Core Viewpoint - Volt Carbon Technologies Inc. has initiated its 2024 exploration program at the Mount Copeland property, focusing on Rare Earth Elements (REE) and Molybdenum, with promising targets identified for sampling and analysis [1][2]. Exploration Program Overview - The exploration program will concentrate on sampling the tailings pond, which is believed to contain REE mineralization, and re-sampling the West extension, which previously showed good width and elevated REE levels [2] - The program aims to recover resources efficiently through targeted sampling and laboratory analyses, leveraging the geologically favorable conditions of the Mount Copeland property [2]. Historical Data and Potential - Historical geochemical analyses indicate significant REE and Niobium (Nb) potential across various zones, with notable findings from previous drilling and rock samples [3] - A 2010 geochemical analysis reported high-grade REE concentrations, including 13.1% Cerium (Ce), 10.2% Lanthanum (La), and 1.77% Neodymium (Nd) from a sample taken 400 meters east of the King Resources molybdenum mine site [3]. Qualified Persons Statement - The technical content of the news release has been reviewed by Andris Kikauka, P.Geo., a Qualified Person with over 30 years of experience in mineral exploration [8]. Update on Flow-Through Financing - The July 22, 2024, news release indicated adjustments to Finder Warrants, with the exercise price now set at $0.05 [9]. Company Overview - Volt Carbon is a publicly traded company focused on carbon science, energy storage, and green energy, with mining claims in Ontario, Quebec, and British Columbia [10].

REE's P7-C software-defined Class 4 electric vehicles are now available for purchase in all 50 states through a 4-year contract awarded to National Auto Fleet Group Sourcewell is a government agency dedicated to streamlining the procurement process by fulfilling the bidding requirements on behalf of their members REE is ready to take orders immediately from this new customer base TEL AVIV, Israel, July 30, 2024 (GLOBE NEWSWIRE) -- REE Automotive Ltd. (Nasdaq: REE), an automotive technology company and provi ...

Financial Data and Key Metrics Changes - The company ended Q1 2024 with liquidity of $77.5 million, which includes cash, cash equivalents, and short-term investments, along with a $15 million long-term credit facility [65] - GAAP net loss for Q1 narrowed to $25.2 million, a 29% decrease quarter-over-quarter and a 12% decrease year-over-year [66] - Non-GAAP net loss decreased by 33% quarter-over-quarter to $21.7 million and decreased by 10% year-over-year [66] - Free cash flow burn continued to decrease in Q1 2024 with a 6% reduction quarter-over-quarter, consistent with a 25% year-over-year decrease in full year 2023 [66] Business Line Data and Key Metrics Changes - The company commenced deliveries of the world's first full by-wire, software-driven, certified medium-duty demo trucks to customers across North America, including major fleets like U-Haul and Penske [52][53] - The order book is valued at approximately $50 million, representing orders from dealers and fleets [56][14] - The company has delivered five vehicles to date, with expectations for more deliveries as production scales [9] Market Data and Key Metrics Changes - The company is experiencing strong demand in the commercial vehicle segment, with a noted difference in adaptation rates compared to the passenger vehicle segment [16][17] - The market response to the Powered by REE and REEcorner technology has been very positive, indicating potential leadership in the commercial vehicle segment [55] Company Strategy and Development Direction - The company's go-to-market strategy focuses on "complete, not compete," working with large fleet operators and automotive manufacturers [53] - The company aims to ramp up production and deliveries to meet the growing demand for electrification in the commercial truck market [62] - The operational focus for the year includes managing a smooth transition into ramping manufacturing and deliveries [62] Management's Comments on Operating Environment and Future Outlook - Management believes that the majority of the heavy lifting is behind them, with expectations for achieving bill of material parity upon production in the low hundreds of vehicles and EBITDA breakeven in the low to mid-thousands [63] - The company is evaluating working capital financing options to scale production effectively [64] - Management expressed confidence in the potential for follow-on orders from early customers, which will be crucial for scaling production [36] Other Important Information - The company has been selected by Airbus to develop and validate a fully autonomous program based on its full by-wire technology, further solidifying its technological leadership [61] - The company expects to generate cash from the UK government as part of a grant plan, amounting to roughly $7 million between Q2 to Q3 [38] Q&A Session Summary Question: What are the priorities this year regarding unit deliveries? - The company aims to fulfill its order book and deliver as many vehicles as possible to large fleets like Penske and U-Haul, which have significant potential for future orders [71] Question: How are customers evaluating the product for follow-on orders? - Different fleets have varying criteria for evaluations, but positive feedback from demo rides indicates strong potential for follow-on orders as customers experience the technology [35] Question: What is the expected impact of the U-Haul and Penske agreements? - The partnerships with U-Haul and Penske are expected to significantly impact sales, with the company confident that these relationships will translate into orders over time [72]

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. REE Automotive shares have lost about 8.6% since the beginning of the year versus the S&P 500's gain of 10.4%. What's Next for REE Automotive? While REE Automotive has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers ...

Exhibit 99.1 REE Automotive Reports First Quarter 2024 Financial Results: Deliveries to Customers Have Begun Including to Penske, U-Haul and Airbus Q1 2024 and Recent Highlights: Business: Technology: ● P7-C is the first full by-wire truck to achieve U.S. FMVSS and EPA certifications. P7-C vehicles are now eligible for a U.S. federal tax credit of up to $40,000 per vehicle and are expected to be eligible for over $100,000 of incentives per vehicle with additional state incentives. TEL AVIV (May 30, 2024) – ...

Penske Truck Leasing begins to offer Powered by REE® Electric Vehicles to its customers U-Haul received Powered by REE electric platform and is evaluating it as the first solution to support the electrification of its fleet Airbus and REE collaborate on an autonomous program utilizing REE's P7-C full by-wire and autonomous-ready technology, which opens REE to new autonomous driving markets Demo program underway, with a growing number of trucks already delivered and an increasing number of fleets that contin ...

TEL AVIV, Israel, May 30, 2024 (GLOBE NEWSWIRE) -- REE Automotive Ltd. (Nasdaq: REE) ("REE" or the "Company"), an automotive technology company and provider of full by-wire electric trucks and platforms, today announced its financial results and operational highlights for the three months ended March 31, 2024. "We started 2024 with strong momentum and catalytic milestones, from achieving U.S. certification to starting to deliver trucks against our order book as part of our demo program with our dealers acro ...

Highlights Zircon supply is currently limited but is essential in high-growth industries like ceramics, electronics and nuclear energy, which are experiencing increasing demand globally. Initial and historical exploration assay results indicate the potential for significant Zircon co-product potential alongside Rare Earths (REEs) processing at ARR's flagship Halleck Creek project. Zirconium can be easily separated and upgraded, owing to its density, as part of the REEs preconcentration steps in the Halleck ...

Event: REE's First Quarter Financial Results Conference Call Date: Thursday, May 30, 2024 Time: 8:30 a.m. ET Conference Call Dial-In Webcast Registration Investor Contact Dana Rubinstein Chief Strategy Officer | REE Automotive +972 54-671-2845 investors@ree.auto About REE Automotive TEL AVIV, Israel, May 17, 2024 (GLOBE NEWSWIRE) -- REE Automotive Ltd. (Nasdaq: REE) ("REE" or the "Company"), an automotive technology company and provider of full by-wire electric trucks and platforms, today announced it will ...

TEL AVIV, Israel, May 17, 2024 (GLOBE NEWSWIRE) -- REE Automotive Ltd. (Nasdaq: REE) ("REE" or the "Company"), an automotive technology company and provider of full by-wire electric trucks and platforms, today announced it will report its first quarter 2024 financial results before market open on Thursday, May 30, 2024. A webcast and conference call will be held on the same date at 8:30 a.m. ET to review the Company's financial results for the three months ended March 31, 2024 , discuss recent events and co ...