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WEST PALM BEACH, Fla. (AP) — Canadian Prime Minister Justin Trudeau said Saturday he had an “excellent conversation” with Donald Trump at his Mar-a-Lago club after the president-elect’s threat to impose significant tariffs on two of America’s leading trade partners raised alarms in Ottawa and Mexico City . It was unclear, as Trudeau headed back to Canada from Florida, whether the conversation had alleviated Trump’s concerns. A person familiar with the details of the leaders’ hastily arranged meeting Friday night said it was a “positive wide-ranging dinner that lasted three hours.” The official, who was not authorized to discuss the matter publicly and spoke to The Associated Press on condition of anonymity, said topics included trade, border security, fentanyl, defense, Ukraine, NATO, China, the Mideast and pipelines, as well as the the Group of Seven meeting in Canada next year. The Republican president-elect has threatened to impose tariffs on products from Canada and Mexico if the countries don’t stop what he called the flow of drugs and migrants across their borders. He said he would impose a 25% tax on all products entering the U.S. from Canada and Mexico as one of his first executive orders when he takes office in January. Trudeau says it was “an excellent conversation” As he was leaving his West Palm Beach hotel, Trudeau stopped briefly to answer a reporter’s question about the dinner meeting, saying it was “an excellent conversation.” Trump’s transition team did not respond to questions about what the leaders had discussed. Trump, during his first term as president, once called Trudeau “weak” and “dishonest,” but it was the prime minister who was the first G7 leader to visit Trump since the Nov. 5 election. “Tariffs are a crucial issue for Canada and a bold move was in order. Perhaps it was a risk, but a risk worth taking,” Daniel Béland, a political science professor at McGill University in Montreal. Among those at the dinner were Howard Lutnick, Trump’s pick for commerce secretary; North Dakota Gov. Doug Burgum, in line to lead the Interior Department; and Mike Waltz, Trump’s choice to be his national security adviser. Accompanying Trudeau were Canada’s public safety minister, Dominic LeBlanc, whose responsibilities include border security, and Katie Telford, Trudeau’s chief of staff. Trudeau had said earlier Friday that he would resolve the tariffs issue by talking to Trump. Mexican President Claudia Sheinbaum said a day earlier after speaking with Trump that she is confident a tariff war with the United States will be averted. Trudeau said Trump got elected because he promised to bring down the cost of groceries but now he’s talking about adding 25% to the cost of all kinds of products including potatoes from Prince Edward Island in Atlantic Canada. “It is important to understand that Donald Trump, when he makes statements like that, he plans on carrying them out. There’s no question about it,” Trudeau said before his leaving for Florida. “Our responsibility is to point out that he would not just be harming Canadians, who work so well with the United States, but he would actually be raising prices for Americans citizens as well and hurting American industry and business,” he added. To Nelson Wiseman, professor emeritus at the University of Toronto, Trump “doesn’t need convincing that new tariffs on Canadian products would not be in U.S. interests. He knows that, but cannot say it because it would detract from what he has said publicly. His goal is to project the image that he gets action when he talks.” Those tariffs could essentially blow up the North American trade pact that Trump’s team negotiated during his first term. Trudeau noted they were able to successfully renegotiate the deal, which he calls a “win win” for both countries. Trump speaks about fentanyl from Mexico and Canada Trump made the tariff threat Monday while citing an influx of migrants entering the country illegally, even though the numbers at the Canadian border pale in comparison to those at the U.S.-Mexico border. Trump also spoke about fentanyl from Mexico and Canada, even though seizures from the Canadian border are few in comparison to the Mexican border. Canadian officials say lumping Canada in with Mexico is unfair but say they are ready to make new investments in border security. When Trump imposed higher tariffs during his first term in office, other countries responded with retaliatory tariffs of their own. Canada, for instance, announced billions of new duties in 2018 against the U.S. in a response to new taxes on Canadian steel and aluminum. Canada is the top export destination for 36 U.S. states. Nearly $3.6 billion Canadian (US $2.7 billion) worth of goods and services cross the border each day. By Rob Gillies And Fatima Hussein READ ALSO:None
NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE'S REPUBLIC OF CHINA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT. Oslo, 9 December 2024: Reference is made to the stock exchange announcement published by Vow ASA (the " Company ") on 19 November 2024 regarding the approval by the extraordinary general meeting of the Company of a fully underwritten rights issue of 166,666,666 new shares in the Company (the " Offer Shares "), at a subscription price of NOK 1.50 per share (the " Rights Issue "). In connection with the Rights Issue, a total of 9,910,929 new shares, each at a subscription price of NOK 1.50 (the " Underwriting Commission Shares ") shall be delivered to the underwriters pursuant to the subscription and underwriting agreement dated 27 September 2024 as settlement of their entitlement to commission under said agreement. In accordance with the authorisation granted to the board of directors at the extraordinary general meeting held on 19 November 2024, the board of directors has today resolved to increase the share capital by NOK 926,671.8615 by the issuance of 9,910,929 new shares, each with a nominal value of NOK 0.0935 and a subscription price of NOK 1.50. The subscription price of NOK 1.50 per Underwriting Commission Share is equal to the subscription price in the Rights Issue. The share capital increase relating to the issuance of the Underwriting Commission Shares is expected to be registered with the Norwegian Register of Business Enterprises on or about 18 December 2024, and the Underwriting Commission Shares are expected to be delivered to the underwriters on or about 19 December 2024. This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. For more information, please contact: Henrik Badin, CEO, Vow ASA Tel: +47 90 78 98 25 Email: [email protected] Tina Tønnessen, CFO, Vow ASA Tel: +47 406 39 556 Email: [email protected] About Vow ASA Vow and its subsidiaries Scanship, C.H. Evensen and Etia are passionate about preventing pollution. The company's world leading solutions convert biomass and waste into valuable resources and generate clean energy for a wide range of industries. Advanced technologies and solutions from Vow enable industry decarbonisation and material recycling. Biomass, sewage sludge, plastic waste and end-of-life tyres can be converted into clean energy, low carbon fuels and renewable carbon that replace natural gas, petroleum products and fossil carbon. The solutions are scalable, standardised, patented, and thoroughly documented, and the company's capability to deliver is well proven. The company is a cruise market leader in wastewater purification and valorisation of waste. It also has strong niche positions in food safety and robotics, and in heat-intensive industries with a strong decarbonising agenda. Located in Oslo, the parent company Vow ASA is listed on the Oslo Stock Exchange (ticker VOW). - IMPORTANT INFORMATION - This announcement does not constitute an offer of securities for sale or a solicitation of an offer to purchase securities of the Company in the United States or any other jurisdiction. Copies of this document may not be sent to jurisdictions, or distributed in or sent from jurisdictions, in which this is barred or prohibited by law. The securities of the Company may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"). The securities of the Company have not been, and will not be, registered under the U.S. Securities Act. Any sale in the United States of the securities mentioned in this communication will be made solely to "qualified institutional buyers" as defined in Rule 144A under the U.S. Securities Act. No public offering of the securities will be made in the United States. Any offering of the securities referred to in this announcement will be made by means of the Prospectus. This announcement is an advertisement and is not a prospectus for the purposes of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 on prospectuses to be published when securities are offered to the public or admitted to trading on a regulated market, and repealing Directive 2003/71/EC (as amended) as implemented in any EEA Member State (the "Prospectus Regulation"). Investors should not subscribe for any securities referred to in this announcement except on the basis of information contained in the Prospectus. Copies of the Prospectus will, following publication, be available from the Company's registered office and, subject to certain exceptions, on the website of the Managers. In any EEA Member State, this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the Prospectus Regulation, i.e., only to investors who can receive the offer without an approved prospectus in such EEA Member State. In the United Kingdom, this communication is only addressed to and is only directed at Qualified Investors who (i) are investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the "Order") or (ii) are persons falling within Article 49(2)(a) to (d) of the Order (high net worth companies, unincorporated associations, etc.) (all such persons together being referred to as "Relevant Persons"). These materials are directed only at Relevant Persons and must not be acted on or relied on by persons who are not Relevant Persons. Any investment or investment activity to which this announcement relates is available only to Relevant Persons and will be engaged in only with Relevant Persons. Persons distributing this communication must satisfy themselves that it is lawful to do so. This document is not for publication or distribution in, directly or indirectly, Australia, Canada, Japan, the United States or any other jurisdiction in which such release, publication or distribution would be unlawful, and it does not constitute an offer or invitation to subscribe for or purchase any securities in such countries or in any other jurisdiction. In particular, the document and the information contained herein should not be distributed or otherwise transmitted into the United States or to publications with a general circulation in the United States of America. The Managers are acting for the Company in connection with the Rights Issue and no one else and will not be responsible to anyone other than the Company for providing the protections afforded to their respective clients or for providing advice in relation to the Rights Issue or any transaction or arrangement referred to in this announcement. Matters discussed in this announcement may constitute forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as "anticipate", "believe", "continue", "estimate", "expect", "intends", "may", "should", "will" and similar expressions. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the Company believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict and are beyond its control. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. The information, opinions and forward-looking statements contained in this announcement speak only as at its date and are subject to change without notice. This announcement is made by and is the responsibility of, the Company. Neither the Managers nor any of their affiliates makes any representation as to the accuracy or completeness of this announcement and none of them accepts any responsibility for the contents of this announcement or any matters referred to herein. This announcement is for information purposes only and is not to be relied upon in substitution for the exercise of independent judgment. It is not intended as investment advice and under no circumstances is it to be used or considered as an offer to sell, or a solicitation of an offer to buy any securities or a recommendation to buy or sell any securities of the Company. No reliance may be placed for any purpose on the information contained in this announcement or its accuracy, fairness or completeness. Neither the Managers nor any of their respective affiliates accepts any liability arising from the use of this announcement.
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