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Category: Artificial Intelligence

  • MIL-OSI: Progress MOVEit Recognized in G2’s Best IT Infrastructure Products List for Third Consecutive Year

    Source: GlobeNewswire (MIL-OSI)

    Managed file transfer solution recognized for excellence based on user reviews

    BURLINGTON, Mass., April 01, 2025 (GLOBE NEWSWIRE) — Progress (Nasdaq: PRGS), the trusted provider of AI-powered digital experience and infrastructure software, today announced that its Progress® MOVEit® managed file transfer (MFT) software has been recognized with a 2025 Best Software Award from G2 in the Best IT Infrastructure Products category. Out of 6,562 total products in this category, and 1,856 eligible for the 2025 awards, MOVEit was one of only 13 products to retain a spot on the list from last year, highlighting its continued leadership in the MFT and IT infrastructure sectors.

    The G2 Best Software Awards rank the world’s best software companies and products based on authentic, timely reviews from real users and publicly available market presence data. The continued recognition of MOVEit software highlights its value in helping organizations transfer sensitive files more securely and efficiently while promoting compliance with industry standards.

    MOVEit software has continually evolved to meet the growing demands of secure file transfer, providing businesses with a trusted, scalable and efficient solution. It is recognized for its leadership and innovation, offering increased reliability in secure file transfers.

    In addition to this year’s recognition, MOVEit software is:

    • The only MFT solution to make the Best IT Infrastructure list more than once—and for three consecutive years (2023, 2024, 2025).
    • 20-time leader in G2’s quarterly MFT report since spring 2020, solidifying its position as the go-to solution for managed file transfer.
    • Trusted by enterprises worldwide to automate and protect sensitive file transfers across highly regulated industries including banking and financial services, healthcare, insurance, and government.

    Core Features That Set MOVEit Software Apart

    • Security and Compliance: Provides advanced encryption, access controls and compliance certifications, including ISO 27001, SOC 2 Type 2, FIPS 140-2, GDPR, HIPAA and PCI 4.0.
    • File Transfer Automation: Reduces manual errors and increases efficiency through workflow automation.
    • Broad Visibility and Control: Helps organizations maintain consistent oversight—from high-level task tracking to granular audit logs.
    • Scalability and High Availability: Offers flexible cloud and on-premises deployment options with built-in high availability and disaster recovery solutions for secure, uninterrupted file transfers at scale.

    Unlike traditional methods, such as FTP and email, MOVEit promotes secure, automated and compliant file transfer for businesses looking to reduce inefficiencies and risk.

    For more information about Progress MOVEit, visit www.progress.com/moveit.

    About Progress
    Progress (Nasdaq: PRGS) empowers organizations to achieve transformational success in the face of disruptive change. Our software enables our customers to develop, deploy and manage responsible AI-powered applications and digital experiences with agility and ease. Customers get a trusted provider in Progress, with the products, expertise and vision they need to succeed. Over 4 million developers and technologists at hundreds of thousands of enterprises depend on Progress. Learn more at www.progress.com.

    Progress and MOVEit are trademarks or registered trademarks of Progress Software Corporation and/or one of its subsidiaries or affiliates in the U.S. and other countries. Any other trademarks contained herein are the property of their respective owners. 

    Press Contact:
    Kim Baker
    Progress
    +1-800-477-6473
    pr@progress.com

    The MIL Network –

    April 2, 2025

  • MIL-OSI: Check Point Software to Announce 2025 First Quarter Financial Results on April 23, 2025

    Source: GlobeNewswire (MIL-OSI)

    TEL AVIV, Israel, April 01, 2025 (GLOBE NEWSWIRE) — Check Point® Software Technologies Ltd. (NASDAQ: CHKP), a leading provider of cyber security solutions globally, today announced that it will release its financial results for the first quarter ended March 31, 2025, on Wednesday, April 23, 2025, before the U.S. financial markets open. Management will host a video conference call with the investment community at 8:30 AM EST/5:30 AM PST on April 23, 2025. A live video webcast of the call will be hosted on the company’s website at http://www.checkpoint.com/ir.

    To follow this and other Check Point news visit:

    About Check Point Software Technologies Ltd.
    Check Point Software Technologies Ltd. (www.checkpoint.com) is a leading AI-powered, cloud-delivered cyber security platform provider protecting over 100,000 organizations worldwide. Check Point leverages the power of AI everywhere to enhance cyber security efficiency and accuracy through its Infinity Platform, with industry-leading catch rates enabling proactive threat anticipation and smarter, faster response times. The comprehensive platform includes cloud-delivered technologies consisting of Check Point Harmony to secure the workspace, Check Point CloudGuard to secure the cloud, Check Point Quantum to secure the network, and Check Point Infinity Core Services for collaborative security operations and services.

    ©2025 Check Point Software Technologies Ltd. All rights reserved

    INVESTOR CONTACT:   MEDIA CONTACT:
    Kip E. Meintzer   Gil Messing
    Check Point Software   Check Point Software
    +1.650.628.2040   +1.650.628.2260
    ir@checkpoint.com   press@checkpoint.com

    The MIL Network –

    April 2, 2025

  • MIL-OSI: Presidio Unveils AI-Powered Solutions to Transform Fan Engagement and Increase Monetization for Sports and Media Industries

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, April 01, 2025 (GLOBE NEWSWIRE) — Presidio, a leading technology services and solutions provider, today announced the launch of its Sports, Media and Entertainment practice with new, innovative tailored cloud-based, AI-powered solutions and services. As organizations in these industries look for new ways to engage viewers, increase revenue, and deliver richer fan experiences, Presidio’s new Captivate suite of AI-powered metadata solutions is designed to transform content discovery, audience interaction, and betting engagement.

    Built on Presidio’s proven expertise with industry leaders including the National Hockey League (NHL) and DraftKings, Captivate is an innovative audience experience solution with accelerators that leverage AWS for scalability, flexibility, and intelligence to drive immersive experiences and dynamic monetization opportunities specifically for the Sports, Media and Entertainment industries. By integrating AI-driven content curation with real-time data processing, Presidio Captivate enables organizations to deliver tailored, high-impact experiences faster and more efficiently. These include:

    • AI Metadata Extraction: automatically extracts rich metadata from live streams and digital video archives to allow for enhanced discoverability and personalized content experiences. 
    • Virtual Panel for Video Optimization: a virtual control room allows the ability to dynamically adjust camera angles and visual elements in real-time. This ensures high-quality viewing experiences by automatically adapting to varying network conditions and audience demands.
    • Second Screen Application: creates interactive audience experiences with real-time stats, behind-the-scenes insights, social media engagement and exclusive offers on second screens or embedded within existing apps.

    “We’ve worked with Presidio on a wide range of innovative projects spanning modernizing our IT infrastructure, developing and managing mission-critical applications and enhancing streaming and production experiences for fans. Their cloud-first solutions, combined with deep expertise in media workflows, have allowed us to advance the NHL and transform the way we engage with fans, deliver content, and operate as a league,” said Grant Nodine, NHL Senior Vice President, Technology.

    “Our extensive success solving technology challenges for high-profile sports, media and entertainment customers provides invaluable insights into their specific and continuously evolving challenges. From ideation to execution across AI-powered fan experiences to optimizing operations and everything in between, we’re helping our customers excel in a rapidly shifting and competitive market,” said Roger Sherwood, Industry Practice Director at Presidio.

    Discover how Captivate is redefining fan engagement here and if you’re attending NAB 2025 April 5–9, 2025 attend our session in the AWS theater “Unlocking the Future of Fan Engagement with Presidio & the NHL”

    About Presidio

    At Presidio, speed and quality meet technology and innovation. Presidio is a trusted ally for organizations across industries with a decades-long history of building traditional IT foundations and deep expertise in AI and automation, security, networking, digital transformation, and cloud computing. Presidio fills gaps, removes hurdles, optimizes costs, and reduces risk. Presidio’s expert technical team develops custom applications, provides managed services, enables actionable data insights and builds forward-thinking solutions that drive strategic outcomes for clients globally. For more information, visit www.presidio.com.

    The MIL Network –

    April 2, 2025

  • MIL-OSI United Kingdom: Breaking AI to Make it Better: DASA’s investment in the future of AI assurance

    Source: United Kingdom – Executive Government & Departments

    Case study

    Breaking AI to Make it Better: DASA’s investment in the future of AI assurance

    Advai, an AI focussed SME, is leading the way in military and commercial AI safety.

    How DASA and Dstl funding helped Advai become an AI Safety Leader

    • DASA’s and Dstl’s investment helped Advai build the UK’s first dedicated AI assurance capability before the generative AI boom
    • Advai’s solutions range from physical patches that degrade AI computer visions systems, to a system which can automatically retrain AI models out in the field
    • Advai’s evolution saw them develop into a UK leader in military and commercial AI safety, influencing national policy and standards

    When AI assurance saves lives

    Artificial Intelligence (AI) is revolutionising modern life and with the boom of large language models (LLMs) and generative AI, its impact on defence and security is growing more each day. Yet as militaries worldwide rush to implement AI systems, an equally crucial challenge emerges: how to protect them.

    Understanding the challenge

    Advai’s CEO David Sully, who brought public sector experience to this critical challenge, explains:

    Everyone was talking about AI unlocking value, but nobody was asking what happens when AI goes wrong and why it does so.

    AI systems need rigorous examination to understand exactly when and how they might fail. This insight led to Advai’s simple but powerful mission: “We don’t make AI – we break it.”

    Advai’s early vision: Adversarial AI

    Beginning in 2020, DASA recognised the strategic importance of AI assurance and funded Advai through multiple innovative projects, starting with the development of Adversarial AI attack and defence methods for Computer Vision and Natural Language Processing (NLP).

    What exactly is Adversarial AI? Adversarial AI involves finding ways to make AI systems fail or produce incorrect outputs, essentially “breaking” AI to understand its vulnerabilities. Similar to testing safety equipment – before trusting it, you need to know exactly under what conditions it might fail.

    Advai’s initial projects aimed to develop methods of confusing AI while being undetected by humans. Such tools are invaluable for identifying weaknesses in any AI systems.

    Adversarial AI in defence: Physical patches

    Building on their expertise, Advai embarked on another project alongside the Defence Science and Technology Laboratory (Dstl) to develop Physical Adversarial Patches to manipulate computer vision systems. This innovative technology uses printable patterns capable of disrupting AI recognition systems. David Sully explains:

    We can apply a filter so an object is labelled as something completely different, or disappear entirely. An automated AI-based drone might read a van as a tree or fail to detect a vehicle entirely.

    Advai are just completing a second phase of this work, directly with Dstl, to significantly advance the concept of adversarial patterns. Significantly, says Sully:

    We can create an adversarial texture on a ‘blackbox’ as well as ‘whitebox’ basis. Additionally, the textures can be optimised to be visually similar to existing patterns, avoiding the problem of creating visually-jarring patches.

    Ahead of the curve

    When generative AI and large language models exploded onto the scene in 2021, Advai was already deeply experienced in AI assurance and had a head start in understanding how these systems work. Their early work provided crucial insights that transferred directly to new challenges in language model security, Advai’s leadership notes:

    No one saw the generative AI explosion coming, but our focus on AI robustness gave us a huge advantage in understanding how to manage and assure these systems.

    Commercial impact

    From its defence origins, Advai has expanded to serve commercial customers needing to ensure their AI systems are trustworthy and secure. Some of their tools and achievements include:

    • Independent verification and benchmarking
    • Live monitoring systems for AI vulnerability detection
    • Automated stress testing procedures
    • Protection against private information extraction

    The company’s work has influenced national policy, and contributed to the Turing Institute’s framework for AI security, in-turn helping to raise political awareness about AI safety. Advai also acted as an examiner for the Defence Cyber Marvel 2024 competition, organised by the Army Cyber Association.

    The future of AI safety and DASA’s crucial role

    Today, Advai stands at the forefront of AI assurance, planning to strengthen their defence sector credibility while promoting a “safety-first, not safety-last” approach. Their roadmap includes greater commercialisation using their scalable platform. But this evolution comes with challenges. Advai CEA, David Sully emphasises:

    Most of the world’s leading AI research is happening in the private sector behind closed doors rather than in universities. For AI assurance to have a chance of keeping up, companies like Advai need support from stakeholders like DASA to help ensure the UK has a domestic capability in AI safety.

    Advai is a demonstration of what is achievable by DASA. We have created a genuinely world-leading AI company, working across UK defence and security. As we expand, Advai is increasingly enabling and protecting critical commercial companies. Our ambition is for Advai to be the biggest player in AI Assurance, generating the most advanced IP and technology as a sovereign UK entity, all of which can be traced back to this initial funding and support.

    Advai’s adversarial AI expertise was highlighted when they demonstrated their technology to Secretary of State for Defence, John Healey and Chancellor, Rachel Reeves during a visit to Wellington Barracks, Westminster on 26 March 2025.

    The Secretary of State for Defence John Healey (left), Chief of the Defence Staff Admiral Tony Radakin (centre) and the Chancellor of the Exchequer Rachel Reeves (right), visit Wellington Barracks in London.

    The road ahead

    As AI technology continues to evolve, so do its potential vulnerabilities. The problems and adversaries keep changing, requiring AI safety to evolve just as quickly. Advai’s journey from research to commercial success demonstrates how early government investment in critical technologies can create lasting national capabilities. Their story shows that in the race to develop artificial intelligence, ensuring its trustworthiness and security is just as important as advancing its capabilities. Sully concludes:

    The world is still coming to terms with generative AI and LLMs, let alone generative AI assurance. But thanks to DASA’s early vision, we’re ready to meet these challenges and ensure that as AI becomes more powerful, it also becomes more trustworthy.

    Updates to this page

    Published 1 April 2025

    MIL OSI United Kingdom –

    April 2, 2025

  • MIL-OSI: Brand Engagement Network to Present at the AI & Technology Virtual Investor Conference April 3rd

    Source: GlobeNewswire (MIL-OSI)

    WILMINGTON, Del., April 01, 2025 (GLOBE NEWSWIRE) — Brand Engagement Network Inc. (BEN) (NASDAQ: BNAI), an innovator in AI-driven customer engagement solutions, today announced that CEO Paul Chang, will present live at the AI & Technology Virtual Investor Conference hosted by VirtualInvestorConferences.com, on April 3, 2025

    DATE: April 3, 2025
    TIME: 1:00 PM
    LINK: REGISTER HERE
    Available for 1×1 meetings: April 3rd, 4th, and 7th

    This will be a live, interactive online event where investors are invited to ask the company questions in real-time. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available after the event.

    It is recommended that online investors pre-register and run the online system check to expedite participation and receive event updates.  

    Learn more about the event at www.virtualinvestorconferences.com.

    Why BEN?

    • High-Growth Market Leader: BEN is positioned to capture opportunities in the $30B conversational AI industry with tailored, impactful solutions. Unlike generalist AI models that rely on expensive GPUs, BEN AI’s small language models run efficiently on CPUs, offering unmatched scalability and cost-effectiveness for businesses.
    • Proven Innovation and Technology: With 21 granted and 28 pending patents, BEN leads in personalization, adaptive AI, and secure integration. Cataneo’s MYDAS platform optimizes advertising for major broadcasters like Disney and BBC, unlocking new revenue streams.
    • Industry Versatility: BEN’s scalable AI-powered solutions transform customer engagement across industries, including automotive, healthcare, and media, creating measurable impact and value.
    • Commitment to Trust and Security: BEN AI ensures transparency, reliability, and U.S.-based data security with HIPAA and SOC2 compliance. Its Virginia-hosted servers and offline capabilities make it ideal for regulated industries like healthcare.
    • Visionary Leadership: BEN’s leadership team has the expertise to drive industry transformation and maintain its position at the forefront of customer engagement.

    Recent Company Highlights:

    • Transformational Acquisition: BEN recently announced the acquisition of Cataneo GmbH, a media technology leader managing over €5 billion in annual media spend. This $19.5 million deal combines BEN’s Generative AI with Cataneo’s Mydas platform, setting a new benchmark in global media engagement and interactive advertising.
    • AI-Driven Radio Advertising with Vybroo & Grupo Siete: BEN and Cataneo GmbH partnered with Vybroo and Grupo Siete on a pilot program to modernize radio advertising in Mexico by streamlining ad placement and optimizing campaign performance.
    • Cox Automotive Partnership: BEN successfully integrated its Digital AI Assistant with Cox Automotive’s Dealer.com, enhancing customer engagement and dealership operations through personalized, multimodal experiences.
    • Expanding Market Reach: BEN continues to explore new verticals and applications for its AI solutions, positioning the company to capture untapped opportunities and deliver sustained growth.

    About Brand Engagement Network (BEN)
    Brand Engagement Network Inc. (NASDAQ: BNAI) innovates in AI-powered customer engagement, delivering safe, intelligent, and scalable solutions. Its proprietary Engagement Language Model (ELM™) and Retrieval-Augmented Generation (RAG) architecture enable highly personalized interactions supported by customers’ curated data in closed-loop environments. BEN develops AI-driven engagement solutions for the life sciences, automotive, and retail industries, featuring AI-powered avatars for outbound campaigns, inbound customer service, and real-time recommendations. With a global AI research and development team, BEN provides secure cloud-based or on-premises deployments, granting complete control of the technology stack and ensuring compliance with GDPR, CCPA, HIPAA, and SOC 2 Type 1 standards. The company holds 21 patents, with 28 pending, demonstrating its commitment to advancing AI-driven consumer engagement. For more information, visit www.beninc.ai.

    About Virtual Investor Conferences®
    Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors.

    Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access.  Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.

    BEN Contacts:
    Investor Relations
    Susan Xu
    E: sxu@allianceadvisors.com
    P: 778-323-0959

    Media Contact
    Amy Rouyer
    E: amy@beninc.ai
    P: 503-367-7596

    Virtual Investor Conferences
    John M. Viglotti
    SVP Corporate Services, Investor Access
    OTC Markets Group
    (212) 220-2221
    johnv@otcmarkets.com

    The MIL Network –

    April 2, 2025

  • MIL-OSI: BioLargo to Present at the AI & Technology Virtual Investor Conference April 3, 2025

    Source: GlobeNewswire (MIL-OSI)

    WESTMINSTER, Calif., April 01, 2025 (GLOBE NEWSWIRE) — BioLargo, Inc. (OTCQX:BLGO), a company that creates and commercializes sustainable technologies to solve tough environmental and cleantech challenges, today announced that Dennis P. Calvert, CEO of BioLargo, will present live at the AI & Technology Virtual Investor Conference hosted by VirtualInvestorConferences.com, on April 3, 2025

    DATE: April 3, 2025
    TIME: 12:00 PM EDT
    LINK: Register Here

    This will be a live, interactive online event where investors are invited to ask the company
    questions in real-time. If attendees are not able to join the event live on the day of the
    conference, an archived webcast will also be made available after the event.

    It is recommended that online investors pre-register and run the online system check to expedite participation and receive event updates.  

    Learn more about the event at www.virtualinvestorconferences.com.

    About BioLargo, Inc.

    BioLargo, Inc. (OTCQX:BLGO) is a cleantech and life sciences innovator and engineering services solution provider. Our core products address PFAS contamination, achieve advanced water and wastewater treatment, control odor and VOCs, improve air quality, enable energy-efficiency and safe on-site energy storage, and control infections and infectious disease. Our approach is to invent or acquire novel technologies, develop them into product offerings, and extend their commercial reach through licensing and channel partnerships to maximize their impact. See our website at www.BioLargo.com.

    About Virtual Investor Conferences®
    Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors.

    Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access.  Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.

    CONTACTS:
    BioLargo, Inc.
    Dennis P. Calvert
    President and CEO, BioLargo, Inc.
    888-400-2863

    Virtual Investor Conferences
    John M. Viglotti
    SVP Corporate Services, Investor Access
    OTC Markets Group
    (212) 220-2221
    johnv@otcmarkets.com

    The MIL Network –

    April 2, 2025

  • MIL-OSI: Societe Generale offer to purchase certain of its debt securities

    Source: GlobeNewswire (MIL-OSI)

    SOCIETE GENERALE OFFER TO PURCHASE CERTAIN OF ITS DEBT SECURITIES

    Press release

    Paris, April 1, 2025

    NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN ANY JURISDICTION WHERE OR TO WHOM IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT.

    Societe Generale announces today the launch of an offer to purchase for cash (the “Offer”) any and all of its outstanding Undated Deeply Subordinated Resettable Interest Rate Notes (the “Notes”), upon the terms and subject to the conditions set forth in the offer to purchase dated April 1, 2025 (the “Offer to Purchase”) and the related notice of guaranteed delivery.

    The following table sets forth the Notes subject to the Offer and the key economic terms of the Offer:

    CUSIP No. ISIN Title of Security Principal Amount Outstanding Amount to be Accepted Tender Offer Consideration
    83368J FA3 F43628 B41 US83368JFA34 USF43628B413 Undated Deeply Subordinated Resettable Interest Rate Notes (the “Notes”) $1,250,000,000 Any and all $1,007 (1)

     (1)   The amount to be paid for each $1,000 principal amount of Notes validly tendered and not validly withdrawn and accepted for purchase, excluding accrued and unpaid interest.

    The Offer will commence on April 1, 2025 and will expire at 5:00 p.m. (New York City time) on April 7, 2025 unless it is extended or terminated by Societe Generale. The expected guaranteed delivery date is 5:00 p.m. (New York City time) on April 9, 2025. The deadlines set by any intermediary may be earlier than the above deadline.

    Consideration for Notes validly tendered and not validly withdrawn and accepted for payment pursuant to the Offer is $1,007 per $1,000 principal amount of Notes. In addition, Societe Generale will pay all accrued and unpaid interest on the Notes purchased pursuant to the Offer up to, but not including, the settlement date.

    The purpose of the Offer is to efficiently manage Societe Generale’s regulatory capital while providing liquidity to Holders.

    The Notes are governed by English law, which, following the UK’s withdrawal from the European Union, has become a third country law. Because the Notes do not include a contractual recognition of bail-in clause, the Notes will cease to qualify as Additional Tier 1 on June 28, 2025.

    If any Notes remain outstanding after the consummation of the Offer, Societe Generale intends to consider future optional redemption rights in respect of the Notes in accordance with their terms and conditions, including pursuant to condition 8.3 “Redemption upon the occurrence of a Capital Event” for which it has received the European Central Bank’s permission. Any future decision by Societe Generale to redeem the Notes then outstanding will be made on an economic basis, considering current and future regulatory value, relative funding cost, rating agency considerations, and having regard to the prevailing circumstances at the relevant time.

    With respect to the other notes issued by Societe Generale and governed by English law listed below, which will cease to qualify as Tier 2 on June 28, 2025, Societe Generale intends to consider future optional redemption rights in accordance with their terms and conditions, including pursuant to condition 7.2 “Redemption upon the occurrence of a Capital Event” and condition 6(c) “Redemption upon the occurrence of a Capital Event with respect to Subordinated Notes”, as the case may be:

    • USD 1,000,000,000 Subordinated 4.750% Notes due November 24, 2025 (144A ISIN: US83367TBR95, RegS ISIN: USF8586CBS01)
    • AUD 150,000,000 4.875% Subordinated Tier 2 Notes due October 13, 2026 (ISIN: XS1503159219)
    • EUR 70,000,000 fixed rate resettable callable Subordinated Tier 2 Notes due October 21, 2026 (ISIN: XS1308623658)

    Societe Generale and SG Americas Securities, LLC are acting as Dealer Managers for the Offer, and D.F. King Ltd. is acting as Tender and Information Agent. For detailed terms of the Offer, please refer to the Offer to Purchase which, subject to offer and distribution restrictions, can be obtained from the Dealer Managers and the Tender and Information Agent. Questions regarding the Offer may be directed to the Dealer Managers and the Tender and Information Agent at the contact details set forth below:

    D.F. King Ltd.
    Email: SGCIB@dfkingltd.com
    Offer Website: https://clients.dfkingltd.com/sgcib

    In New York

    48 Wall Street, 22nd Floor
    New York, New York 10005
    United States of America

    Banks and Brokers, Call Collect: (212) 269 5550

    All others, Call Toll-Free: (800) 848-2998

    		 In London

    51 Lime Street
    London EC3M 7DQ
    United Kingdom

    Tel: +44 20 7920 9700

    		  
    Societe Generale

    17, cours Valmy

    BP 18236

    92987 Paris la Défense Cedex

    France

    Tel: +33 (0)1 42 13 32 40

    Email: liability.management@sgcib.com

    		 SG Americas Securities, LLC

    245 Park Avenue

    New York, New York 10167

    United States

    Tel: + 1 (212) 278-7631

    Toll-Free: 1 (855) 881 2108

    Press contacts:
    Jean-Baptiste Froville_+33 1 58 98 68 00_ jean-baptiste.froville@socgen.com

    Fanny Rouby_+33 1 57 29 11 12_ fanny.rouby@socgen.com

    Societe Generale

    Societe Generale is a top tier European Bank with around 119,000 employees serving more than 26 million clients in 62 countries across the world. We have been supporting the development of our economies for 160 years, providing our corporate, institutional, and individual clients with a wide array of value-added advisory and financial solutions. Our long-lasting and trusted relationships with the clients, our cutting-edge expertise, our unique innovation, our ESG capabilities and leading franchises are part of our DNA and serve our most essential objective – to deliver sustainable value creation for all our stakeholders.

    The Group runs three complementary sets of businesses, embedding ESG offerings for all its clients:

    • French Retail, Private Banking and Insurance, with leading retail bank SG and insurance franchise, premium private banking services, and the leading digital bank BoursoBank.
    • Global Banking and Investor Solutions, a top tier wholesale bank offering tailored-made solutions with distinctive global leadership in equity derivatives, structured finance and ESG.
    • Mobility, International Retail Banking and Financial Services, comprising well-established universal banks (in Czech Republic, Romania and several African countries), Ayvens (the new ALD I LeasePlan brand), a global player in sustainable mobility, as well as specialized financing activities.

    Committed to building together with its clients a better and sustainable future, Societe Generale aims to be a leading partner in the environmental transition and sustainability overall. The Group is included in the principal socially responsible investment indices: DJSI (Europe), FTSE4Good (Global and Europe), Bloomberg Gender-Equality Index, Refinitiv Diversity and Inclusion Index, Euronext Vigeo (Europe and Eurozone), STOXX Global ESG Leaders indexes, and the MSCI Low Carbon Leaders Index (World and Europe).

    In case of doubt regarding the authenticity of this press release, please go to the end of the Group News page on societegenerale.com website where official Press Releases sent by Societe Generale can be certified using blockchain technology. A link will allow you to check the document’s legitimacy directly on the web page.

    For more information, you can follow us on Twitter/X @societegenerale or visit our website societegenerale.com.

    Cautionary Statement Regarding Forward-Looking Statements

    This press release includes statements that constitute forward-looking statements. Such statements can be understood through words and expressions like “will,” “expect,” “project,” “anticipate,” “should,” “intend,” “probability,” “risk,” “target,” “goal,” “objective,” “estimate,” “future,” “commitment,” “commit,” “focus,” “pledge” and similar expressions. They include, but are not limited to, statements regarding the conduct and completion of the Offers. However, risks, uncertainties and other important factors may lead to developments and results that differ materially from those anticipated, expected, projected or assumed in forward-looking statements, including those discussed in the Offer to Purchase under the heading “Risk Factors” and under similar headings in other documents that are incorporated by reference into the Offer to Purchase. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this press release, and Societe Generale undertakes no obligation to update or revise any forward-looking statements, regardless of new information, future events or otherwise, except as required by applicable law.

    Offer Restrictions
    This press release does not constitute an offer to buy or the solicitation of an offer to sell Notes, and tenders of Notes for purchase pursuant to the Offer will not be accepted from Holders in any circumstances in which such offer or solicitation is unlawful, including under applicable securities or “blue sky” laws.

    United Kingdom
    The communication of the press release and any other documents or materials relating to the Offer is not being made, and such documents and/or materials have not been approved, by an authorized person for the purposes of section 21 of the Financial Services and Markets Act 2000 (the “FSMA”). Accordingly, such documents and/or materials are not being distributed to, and must not be passed on to, the general public in the United Kingdom. This electronic transmission is made only to, or directed only at (1) those persons in the United Kingdom falling within the definition of investment professionals (as defined in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Financial Promotion Order”)), (2) those persons falling within Article 43(2) of the Financial Promotion Order, including existing members and creditors of the Societe Generale, or (3) any other persons to whom it may otherwise be lawfully made under the Financial Promotion Order (together being referred to as “relevant persons”), and must not be acted on or relied upon by persons other than relevant persons. Any investment activity referred to in this communication is available only to relevant persons and will be engaged in only with relevant persons.

    Republic of Italy
    None of the Offer, this press release or any other documents or materials relating to the Offer have been or will be submitted to the clearance procedure of the Commissione Nazionale per le Società e la Borsa (CONSOB) pursuant to Italian laws and regulations and therefore the Offer may only be made or promoted, directly or indirectly, in or into the Republic of Italy as exempted Offer pursuant to Article 101-bis, paragraph 3-bis of Legislative Decree no. 58 of February 24, 1998, as amended (the “Financial Services Act”) and article 35-bis, paragraph 4 of CONSOB Regulation No. 11971 of May 14, 1999, as amended.
    Holders or beneficial owners of the Notes that are resident and/or located in the Republic of Italy can tender Notes for purchase in the Offer through authorized persons (such as investment firms, banks or financial intermediaries permitted to conduct such activities in the Republic of Italy in accordance with the Financial Services Act, CONSOB Regulation No. 20307 of 15 February 2018, as amended from time to time, and Legislative Decree No. 385 of 1 September 1993, as amended) and in compliance with applicable laws and regulations or with requirements imposed by CONSOB, the Bank of Italy or any other Italian authority.
    Each intermediary must comply with the applicable laws and regulations concerning information duties vis-à-vis its clients in connection with the Notes or Societe Generale or this press release or any other documents or materials relating to the Offer.

    European Economic Area
    This press release does not constitute a prospectus for the purposes of the Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017, as amended (the “Prospectus Regulation”) and has not been approved, filed or reviewed by the Commission de surveillance du secteur financier (“CSSF”) in Luxembourg, nor has the CSSF issued any report regarding the accuracy or adequacy of this press release.
    In any European Economic Area Member State (each, a “Relevant State”), this press release is only addressed to and is only directed at qualified investors in that Relevant State within the meaning of Article 2(e) of the Prospectus Regulation.
    This press release has been prepared on the basis that the Offer in any Relevant State will be made pursuant to an exemption under the Prospectus Regulation from the requirement to produce a prospectus.
    Each person in a Relevant State who receives any communication in respect of the Offer contemplated in this press release will be deemed to have represented, warranted and agreed to and with each Dealer Manager and Societe Generale that it is a qualified investor within the meaning of Article 2(e) of the Prospectus Regulation.

    Attachment

    • 20250401-Press-Release-Societe-Generale_USD-Launch-purchase-debts-securities

    The MIL Network –

    April 2, 2025

  • MIL-OSI Europe: Christine Lagarde: The transformative power of AI

    Source: European Central Bank

    Welcome address by Christine Lagarde, President of the ECB, at the ECB conference on “The transformative power of AI: economic implications and challenges” in Frankfurt, Germany.

    Frankfurt, 1 April 2025

    It is a pleasure to welcome you to our conference on the transformative power of AI.

    In the early stages of a new technological breakthrough, it is often hard to discern fact from fiction. We struggle to imagine the ways in which the new technology will be used. And even if we predict the direction of technological change correctly, we rarely get the timeline or the size of the impacts right.

    Today, we sometimes hear claims that AI is improving so fast that we are only a few years away from the nature of work being radically reformed. But we also hear arguments that the same barriers that slowed down the adoption of all past technologies will also delay AI adoption.

    I cannot claim to know which vision will prove to be correct. But the early evidence is promising and, in my view, we must act on the basis that we are facing an economic revolution. This attitude will be particularly important here in Europe.

    On this side of the Atlantic, we are still paying the price for having been too slow to capitalise on the last major digital revolution, the internet. The tech sector explains around two-thirds of the productivity gap between the EU and the United States since the turn of the century.

    And now we are faced with a technology that can improve its own performance through self-learning mechanisms and feedback loops, enabling even more rapid advances and innovations. The risks of underestimating the potential of AI, and falling behind again, are simply too great to be ignored.

    What’s more, we are facing a new geopolitical environment in which we can no longer be sure that we will have frictionless access to new technologies developed overseas. This new reality strengthens the case for Europe to establish itself at the technological frontier.

    There are two main areas where we should expect, and prepare for, major changes in the economy.

    The first is productivity.

    We can already see the productivity effects of AI in sectors like the US tech sector, where output is expanding while employment is falling.[1] But we are still in the early phase of the “productivity J-curve”, where new technologies diffuse to the wider economy and are reflected in GDP.

    As such, estimates about the productivity gains of AI vary widely – but even at the lower end they would be a game changer for Europe.

    One widely accepted methodology estimates that the euro area could see a boost to total factor productivity (TFP) of around 0.3 percentage points per year over the next ten years.[2] Compare that with the past decade, when annual TFP growth averaged just 0.5%.

    Other estimates point to much larger gains, with productivity expected to grow 1.5 percentage points faster annually if AI is widely adopted over the next decade.[3]

    Whether Europe can achieve such productivity gains will depend on whether we can improve the environment for AI innovation and diffusion.

    This comes down to funding, regulation and energy.

    As I have been arguing for some time, Europe’s relatively small venture capital ecosystem is a major hindrance to building foundational models in the EU.[4] Between 2018 and 2023, around €33 billion was invested in AI companies in the EU, compared with more than €120 billion in their US peers.[5]

    Building and developing this technology also requires considerable investment in data centres, and the EU currently has around 4 times fewer dedicated sites than the US.[6]

    At the same time, ECB research finds that regulation and a lack of institutional quality are particularly detrimental to the expansion of high-tech sectors relative to more mature technologies. Investing in radical technologies is highly risky and needs a different set of framework conditions.[7]

    The adoption of AI, for example, depends on access to data pools to train models, which requires smart regulation to avoid data fragmentation while ensuring data protection. It also requires good institutions as, for instance, effective legal systems are needed to defend a non-patentable asset like a set of AI prompts.

    Our research shows that if the EU’s average institutional delivery were raised to the level of best practice, AI-intensive sectors would see their share in investment rise by more than 10 percentage points.[8]

    Finally, unless we see major breakthroughs in efficiency, Europe’s energy supply constraints could pose a challenge to the diffusion of AI through the economy in the future.

    The power consumption of data centres is expected to triple in Europe by the end of the decade.[9] AI training and inference is extremely energy-intensive.[10] And this surge in demand comes at a time when the green transition is also increasing the demand for electricity, for example for charging battery electric vehicles.

    There is now a clear policy agenda in Europe to address these barriers. It is widely recognised that we need to build a savings and investment union to jump-start European venture capital, that we must simplify complex digital regulations and improve permitting speeds, and that we have to massively increase investment in data centres, fibre-optic networks and electricity grids.

    But for Europe to make the most of the AI revolution, how the productivity gains from AI are harnessed also matters. Labour productivity can be increased either by reducing labour inputs relative to outputs, or by raising outputs relative to inputs. The employment implications of each route are vastly different.

    This brings me to the second area of major change: the effect of AI on labour markets.

    According to ECB research, between 23% and 29% of workers in Europe are highly exposed to AI.[11] This does not necessarily herald a “job apocalypse”. It is reasonable to expect that AI will follow historical patterns by displacing some jobs while creating new one.[12]

    But there are two new questions that this technology poses.

    First, will the pace of technological change be faster than in previous transitions? This question is critical for Europe, as our social model and traditionally high levels of job protection make it hard to see how a transition that leads to massive job reallocations could avoid a major backlash.

    The key factor will be whether AI leans more towards job displacement via its “automation potential”, or towards changes in the nature of work via its “augmentation potential”. In the augmentation scenario, workers will still need to adapt to changing roles and tasks, but the transition will likely be easier.

    Recent research by the ILO finds that only a small share of jobs – around 5% in advanced economies – meet the criteria for high automation. But a much larger share – over 13% – meet the criteria for high augmentation.[13]

    The second question is about the distribution of gains.

    Early studies suggested that AI could increase the productivity of lower-skilled workers the most.[14] But newer studies looking at more complex tasks – like scientific research[15], running a business[16]and investing[17]– tell a different story. High performers benefit disproportionately and, in some cases, less productive workers see no improvements at all.

    So even if AI augments more than it automates, we are likely to see an increase in labour market inequality. Demand for higher-skilled workers who can use AI most effectively will rise, while those less able to learn new skills could suffer.

    All told, I do see a path for Europe to adopt AI without fracturing its social model. But it will require massive complementary investments in skills to prevent a rise in inequality.

    Crucially, this will not require everyone to become coders, which would probably set the bar too high. According to the OECD, most workers who will be exposed to AI will not need specialised AI skills to get ahead in their careers.

    In fact, the most sought-after skills in highly exposed jobs will be linked to management and business – skills that many people have the capacity to learn.[18]

    The CEO of Anthropic, Dario Amodei, has described the potential capabilities of AI as being like “a country of geniuses in a data centre”.[19] If this proves to be correct, it is both an awesome prospect for humanity and a daunting one for individual workers.

    I believe we must act today, and especially in Europe, with the mindset that this future will likely come to pass. We must remove all the barriers that will prevent us from being at the forefront of this revolution.

    But we must also prepare for the human and climate impacts of this transition, and we need to start now.

    I trust that this conference will generate the ideas we need to move forwards.

    MIL OSI Europe News –

    April 2, 2025

  • MIL-OSI: Vocodia Holdings Corp. Issues CEO Letter and Discusses Outlook for 2025

    Source: GlobeNewswire (MIL-OSI)

    BOCA RATON, Fla., April 01, 2025 (GLOBE NEWSWIRE) — Vocodia Holdings Corp. (OTC: VHAI) (“Vocodia”), a leader in AI software development focusing on practical AI applications, announced today that Brian Podolak, Co-founder, Chairman and CEO, has issued a letter to the shareholders of Vocodia Holdings Corp. The full text is as follows:

    To My Fellow Stockholders,

    2024 was our first year as a public company—and the most difficult in our history.

    We faced market headwinds, financial constraints, and operational challenges that tested our team, our technology, and our vision. In September 2024, our stock was delisted from the CBOE and now trades on the OTC Markets. As a public company, this is not where we want to be, but I am a firm believer that with adversity also comes opportunity.

    As we enter 2025, I am optimistic about our company’s future. We have made meaningful progress, laid critical groundwork, and built real technology My focus now is on generating positive momentum, driving disciplined execution, and getting our company back on track—one milestone at a time.

    While our share price has declined, our mission remains strong. And while our access to capital remains tight, our opportunity in artificial intelligence is wide open.

    I want to walk you through where we are, what we have accomplished, and where we are going without sugarcoating anything.

    We have built real technology that solves real problems.

    Call centers are broken. Wait times are too long, quality is inconsistent, and costs are high. Most businesses know this, but they have not found a reliable, scalable way to fix it.

    Vocodia is solving that problem with Digital Intelligent Sales Agents (DISAs)—AI-powered voice bots that can do the work of human call center reps faster, cheaper, and with better results.

    • Our DISAs handle sales, service, and support across dozens of industries. They do not need breaks. They do not need sleep. And they do not complain. But they do sound human, adapt to natural conversations, and follow scripts with perfect recall.

    We have raised capital. We have invested wisely. We have moved fast.

    In 2024, we raised approximately $6 million through our IPO, giving us the runway to accelerate development and expand our sales pipeline. Our executive team personally invested $400,000 in that offering because we believe in what we are building. We are not just leading this company—we are betting on it.

    We are tightening up our operations and expanding our cap table.

    We have made tough decisions to reduce unnecessary spending and streamline our organizational structure. We have scaled back where necessary and doubled down where it matters—product development, platform stability, and customer delivery.

    We are also working closely with Alpine Securities Corporation, whom we engaged in March, to explore strategic pathways for financing, uplisting, and maximizing long-term shareholder value. We believe a more robust capital structure and a more visible market listing are both achievable—and necessary.

    We are earning recognition. And we are telling our story.

    In January, our AI platform was featured in USA Today as a solution to eliminate call center hold times—a powerful validation of our mission and technology. More recently, we formed a joint venture with Traccom Inc. to apply our Narrative AI to event monitoring and logistics—a sign of how flexible and far-reaching our technology can be.

    We are no longer just a tech startup. We are an AI infrastructure company with enterprise-grade tools that solve billion-dollar problems in telecom, retail, utilities, insurance, and more.

    Where do we go from here?

    I will not pretend that the road ahead will be easy. AI is competitive, the market is volatile, capital is still expensive, and we have much to prove.

    But I will say this: we are executing a plan grounded in real revenue, real customers, and real technology. We are not swinging blindly. We are building something with lasting value, and we believe the market will eventually reflect that value.

    Yes, we need to grow, communicate more consistently, and win back the trust of shareholders who have been disappointed by stock performance. And we will.

    The foundation is in place, the platform is scalable, the product is live, and the opportunity is massive.

    Thank you.

    To those of you who have stuck with us through the highs and lows, thank you. Your support means everything. We do not take it for granted, and we work every day to earn it.

    Vocodia’s best days are ahead of us—not behind. Let’s go build something great.

    With respect and determination,

    Brian Podolak

    Co-founder, Chairman & CEO

    Vocodia Holdings Corp.

    About Vocodia Holdings Corp.

    Vocodia is an AI software company that develops practical AI solutions, making them easily accessible for businesses through cloud-based platforms. These solutions are cost-effective and scalable to enterprise levels. Vocodia specializes in conversational AI, providing scalable enterprise-level AI sales and customer service solutions. Their Digital Intelligent Sales Agents (DISAs) are designed to sound and feel human, performing tasks that require human-like conversation, thereby reducing labor costs and enhancing communication effectiveness. For more information, please visit: http://www.vocodia.com

    Forward-Looking Statements

    This release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: “anticipate,” “intend,” “plan,” “believe,” “project,” “estimate,” “expect,” strategy,” “future,” “likely,” “may,”, “should,” “will” and similar references to future periods. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the risks and uncertainties more fully in the section captioned “Risk Factors” in the Company’s Registration Statement on Form S-1 related to the public offering (SEC File No. File No. 333-269489) and other reports we file with the SEC. As a result of these matters, changes in facts, assumptions not being realized or other circumstances, our actual results may differ materially from the expected results discussed in the forward-looking statements contained in this press release. Forward-looking statements contained in this announcement are made as of this date and undertake no duty to update such information except as required under applicable law.

    Investor Relations Contact: 
    ir@vocodia.com

    The MIL Network –

    April 2, 2025

  • MIL-OSI: High Wire Reports 2024 Continuing Operations Revenue Up 21% to Record $8.38 Million

    Source: GlobeNewswire (MIL-OSI)

    BATAVIA, Ill., April 01, 2025 (GLOBE NEWSWIRE) — High Wire Networks, Inc. (OTCQB: HWNI), a leading global provider of managed cybersecurity and wholesale telecommunications transport, reported results from continuing operations for the quarter and year ended December 31, 2024. All comparisons are for the same year-ago period unless otherwise noted.

    On June 27, 2024, High Wire announced the sale of its technology services business. The following financial results from continuing operations exclude this divested business and provide only the results from the company’s continuing managed cybersecurity and technology enablement business. GAAP results for the full year 2024 can be found at www.sec.gov in the company’s annual report as filed on Form 10-K.

    2024 Financial Highlights

    • Implemented a virtualized platform at Secure Voice Corp to enhance gross margin performance and scale revenue-generating capacity, achieving profitability and strong cash flow.
    • Achieved sustained year-over-year growth from 2023 to 2024 of 21%, with 2025 on track to continue the upward trajectory.
    • Increased Overwatch monthly recurring revenue (MRR) by 134% over the past six months, reflecting strong market demand and value delivery.
    • Sold the technology enablement services business to a leading provider of technology infrastructure services in an all-cash deal. The sale allows the company to focus on its managed security solutions line of business.

    2024 Managed Cybersecurity Highlights

    • Developed streamlined service bundles and simplified pricing models to empower Channel partners, resulting in a robust deal pipeline, a strengthened backlog, and improved partner alignment.
    • Expanded vendor partnerships to consolidate cost structures and deliver more competitive pricing to the Channel.
    • Continued strategic investments in the Channel ecosystem to unlock untapped market segments and create a sustainable competitive edge for both partners and their customers.

    2024 Operational Highlights

    • In Q3, Overwatch executed a strategic leadership transformation, appointing Ed Vasko, CISSP, as Chief Executive Officer (30+ years in cybersecurity), Mark Dallmeier as Chief Revenue Officer (27 years in revenue growth strategy), Michael Lieder as Senior Director of Service Delivery (10+ years in operational leadership), and Kim Jones, CISM CISSP, as Chief Information Security Officer (38 years in cybersecurity and risk management).
    • Revitalized the sales leadership team and sales motion under new executive guidance to align with enterprise-level growth objectives. Redefined the sales and marketing strategies, rebuilt the team, and repositioned the brand to focus on upmarket opportunities and larger, high-value deals.
    • Redesigned the Service Delivery architecture to streamline operations and lay the foundation for the organization-wide hyperautomation initiative planned for 2025.
    • Launched a new portfolio of professional services to provide added value for partners and their customers, enhancing both revenue potential and customer success.

    2024 Awards

    • Frost & Sullivan ranked High Wire Networks as one of the Top 12 Managed Security Service Providers (MSSPs) in the categories of growth and innovation. The report noted that High Wire is a relatively new market entrant but is growing incredibly fast thanks to its partner-focused strategy, flexibility, and portfolio underpinned by open XDR.
    • Named to CRN MSP 500 list of Nation’s Top IT Managed Service Providers, which recognizes leading MSPs “whose forward-thinking approach to providing managed services is changing the landscape of the IT channel.”
    • Added to CRN 2024 Women of the Channel list, which honors the most “influential women in leadership at some of the country’s most prominent IT integrators, managed service providers, and value-added resellers for their channel advocacy and dedication to helping their customers and technology partners thrive.”

    Management Commentary

    “2024 was a pivotal year for High Wire Networks. The divestiture of our technology enablement services business was a critical strategic move. While we successfully returned that segment to profitability for the first time since COVID-19 severely impacted its revenues, it consumed disproportionate management time and resources and was not cash-efficient. The project-based nature of the business created unpredictable revenue cycles and made it difficult to maintain resource productivity,” stated High Wire Networks CEO Mark Porter.

    “By completing the transaction, we significantly reduced our liabilities, positioning the company for our planned move to a National Exchange. With our Net Shareholder Equity now within striking distance, we are well on our way to achieving that milestone. As reflected in our public filings, this remains a major strategic priority, and one that we believe will be a key driver of future success and long-term shareholder value.”

    “We also rebuilt the Overwatch leadership team from the ground up, assembling what we believe is the strongest cybersecurity leadership team in the country. Their predecessors laid a solid foundation by guiding the business through its startup phase and getting it ready to scale. Now, with proven leaders in place, we’re poised to drive substantial organic growth and aggressively pursue acquisitions of other managed security revenue streams.

    Thanks to our early investments in AI-driven automation, we can scale revenues without significant increases in headcount. That’s a powerful advantage—it will enable us to reach profitability organically while accelerating margin expansion as we grow through acquisition.”

    Porter added, “Secure Voice Corp had an outstanding year and is well-positioned for even greater success in 2025. We expect to see continued improvements in gross margins, which will drive stronger operating income and increased free cash flow from that business unit.”

    “We are moving forward with a relentless pursuit of increasing gross profit and managing costs through AI-driven automation capabilities, creating an unfair advantage for our partners and their clients,” Porter concluded.

    Full Year 2024 Financial Summary (based on results from Continuing Operations)

    Revenue in 2024 totaled $8.4 million, up 21% from $6.9 million in 2023. The increase was primarily due to a substantial increase in revenues from the company’s Overwatch managed cybersecurity recurring revenue.

    Total operating expenses decreased to $16.9 million (which included non-cash expenses of $0.8 million in depreciation and amortization, $1.2 million in goodwill impairment charges and $0.8 million of stock-based compensation as well as additional one-time expenses of $1.0 million), compared to $18.8 million in 2023. The decrease was due to a reduction in goodwill and intangible impairment charges from 2023, as well as cost optimization opportunities, following the Company’s ability to focus its efforts solely on the cybersecurity segment.

    Net income for 2024 totaled $0.4 million, which included $9.7 million in net income from discontinued operations, compared to a net loss of $14.5 million in 2023.

    About High Wire Networks

    High Wire Networks, Inc. (OTCQB: HWNI) is a fast-growing, award-winning global provider of managed cybersecurity. Through more than 200 channel partners, it delivers trusted managed services for nearly 1,100 managed security customers. Its end customers include hundreds of Fortune 500 companies and the nation’s largest government agencies.

    The company’s Overwatch by High Wire Networks™ platform offers a range of subscription services for threat prevention, detection, and response, meeting the security and compliance requirements of organizations large and small. The company’s IT enablement services provide the foundation for growing its higher-margin Overwatch business.

    High Wire was recently ranked by Frost & Sullivan as a Top 12 Managed Security Service Provider in the Americas. It was also recently named to CRN’s MSP 500 and Elite 150 lists of the nation’s top IT-managed service providers.

    Learn more at HighWireNetworks.com. Follow the company on Twitter, view its extensive video series on YouTube, or connect on LinkedIn.

    Forward-Looking Statements

    The above news release contains forward-looking statements. The statements contained in this document that are not statements of historical fact, including but not limited to, statements identified by the use of terms such as “anticipate,” “appear,” “believe,” “could,” “estimate,” “expect,” “hope,” “indicate,” “intend,” “likely,” “may,” “might,” “plan,” “potential,” “project,” “seek,” “should,” “will,” “would,” and other variations or negative expressions of these terms, including statements related to expected market trends and the Company’s performance, are all “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. These statements are based on assumptions that management believes are reasonable based on currently available information, and include statements regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performances and are subject to a wide range of external factors, uncertainties, business risks, and other risks identified in filings made by the company with the Securities and Exchange Commission. Actual results may differ materially from those indicated by such forward-looking statements. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company’s expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based except as required by applicable law and regulations.

    Company Contact
    Mark Porter, CEO
    High Wire Networks
    Tel +1 (952) 974-4000

    Media Relations
    Lori Aleman
    Director of Marketing
    High Wire Networks
    Tel +1 (952) 974-4000

    Investor Relations
    Ronald Both or Grant Stude
    CMA Investor Relations
    Tel +1 (949) 432-7557

    The MIL Network –

    April 2, 2025

  • MIL-OSI: Turbo Energy’s SUNBOX Home All-In-One Energy Storage System Meets U.S.’s Highest Standards for Safety, Reliability and Performance

    Source: GlobeNewswire (MIL-OSI)

    Company Granted UL Certifications After Undergoing U.S.’s Most Demanding Testing and Evaluation Processes

    Company Advances U.S. Market Launch with Planned Installations in Five States

    VALENCIA, Spain, April 01, 2025 (GLOBE NEWSWIRE) — Turbo Energy, S.A. (NASDAQ:TURB) (“Turbo Energy” or the “Company”), a global provider of leading-edge, AI-optimized solar energy storage technologies and solutions, today announced that it has completed one of the most rigorous safety certification processes in the United States and received Underwriters Laboratories (“UL”) 5500 and 9540 certifications for its innovative SUNBOX Home all-in-one solar energy storage system for residential applications. The UL certification mark is one of the most widely recognized product accreditations in the U.S. and is regarded a pre-requisite for permitting and insurance purposes. 

    Now available in the U.S., SUNBOX Home is a complete intelligent solar energy storage system powered by Turbo Energy’s patented AI algorithms and processes that allow homeowners to fully optimize the energy efficiency of their solar power panel installations

    Commenting on the mission critical milestone, Mariano Soria, Chief Executive Officer of Turbo Energy, stated, “This UL certification is one of the most important criteria in the permitting of new technologies for use in homes and businesses, affirming that our solutions meet rigorous safety standards and regulatory requirements. Moreover, with the award of these certifications, Turbo Energy is empowered to take a significant step forward in our Company’s expansion strategy aimed at penetrating and ultimately dominating the U.S. market for highly advanced, user-friendly solar energy storage solutions.”

    In collaboration with its U.S. partner Connection Holdings, Turbo Energy is in the process of launching SUNBOX Home in the U.S. with units already shipped stateside and initial residential installations being scheduled as part of the Company’s planned American beta initiative being conducted in California, Florida, Georgia, Louisiana and Texas.    

    SUNBOX Home is an all-in-one back-up solar energy storage solution for split phase installations, modular with energy storage capacity up to 20.48 kWh. Supported by Turbo Energy’s proprietary, cloud-based SaaS solution powered by Artificial Intelligence, SUNBOX Home users benefit from intelligent data collection, optimized stored energy management and predictive analytics which provide real-time insight into weather and electricity price forecasts, solar panel performance, energy consumption and material cost savings opportunities, among other key metrics.

    Underwriters Laboratories was established in 1894 and is the world’s largest non-profit product safety certification organization, with global name recognition and acceptance. Products intended to be used in homes and businesses must be listed by a Nationally Recognized Testing Laboratory (“NRTL”) such as Underwriters Laboratories which are accredited by the US Occupational Safety and Health Administration (“OSHA”). Turbo Energy teamed with Intertek Group, plc, one of the world’s leading total quality assurance providers, to manage its testing, inspection and certification processes, resulting in SUNBOX Home’s UL certification for safety, quality and performance.

    About Turbo Energy, S.A.

    Founded in 2013, Turbo Energy is a globally recognized pioneer of proprietary solar energy storage technologies and solutions managed through Artificial Intelligence. Turbo Energy’s elegant all-in-one and scalable, modular energy storage systems empower residential, commercial and industrial users expanding across Europe, North America and Latin America to materially reduce dependence on traditional energy sources, helping to lower electricity costs, provide peak shaving and uninterruptible power supply and realize a more sustainable, energy-efficient future. A testament to the Company’s commitment to innovation and industry disruption, Turbo Energy’s introduction of its flagship SUNBOX represents one of the world’s first high performance, competitively priced, all-in-one home solar energy storage systems, which also incorporates patented EV charging capability and powerful AI processes to optimize solar energy management. Turbo Energy is a proud subsidiary of publicly traded Umbrella Global Energy, S.A., a vertically integrated, global collective of solar energy-focused companies. For more information, please visit www.turbo-e.com.

    Forward-Looking Statements

    Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on current beliefs, expectations and assumptions regarding the future of the business of the Company, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control, including the risks described in our registration statements and annual report under the heading “Risk Factors” as filed with the Securities and Exchange Commission. Actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Any forward-looking statements contained in this press release speak only as of the date hereof, and Turbo Energy, S.A. specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

    For more information, please contact:
    At Turbo Energy, S.A.
    Dodi Handy, Director of Communications
    Phone: 407-960-4636
    Email: dodihandy@turbo-e.com 

    Attachment

    • U.S., SUNBOX Home 

    The MIL Network –

    April 2, 2025

  • MIL-OSI: Banzai to Host Fourth Quarter and Full Year 2024 Financial Results Conference Call on Tuesday, April 15, 2025 at 5:30 p.m. Eastern Time

    Source: GlobeNewswire (MIL-OSI)

    SEATTLE, April 01, 2025 (GLOBE NEWSWIRE) — Banzai International, Inc. (NASDAQ: BNZI) (“Banzai” or the “Company”), a leading marketing technology company that provides essential marketing and sales solutions, will hold a conference call on Tuesday, April 15, 2025, at 5:30 p.m. Eastern Time to discuss its financial results for the fourth quarter and full year ended December 31, 2024, as well as review ongoing initiatives and anticipated 2025 milestones.

    Banzai Founder & CEO Joe Davey and Interim CFO Alvin Yip will host the conference call, followed by a question-and-answer session. The conference call will be accompanied by a presentation, which can be viewed during the webcast or accessed via the investor relations section of the Company’s website here.

    To access the call, please use the following information:

    A replay of the webcast and the presentation utilized during the call will be available in the Company’s investor relations section here.

    About Banzai

    Banzai is a marketing technology company that provides AI-enabled marketing and sales solutions for businesses of all sizes. On a mission to help their customers grow, Banzai enables companies of all sizes to target, engage, and measure both new and existing customers more effectively. Customers who use Banzai’s product suite include Autodesk, Dell Technologies, New York Life, Thermo Fisher Scientific, Thinkific, and ActiveCampaign, among thousands of others. Learn more at www.banzai.io. For investors, please visit https://ir.banzai.io.

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements often use words such as “believe,” “may,” “will,” “estimate,” “target,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “propose,” “plan,” “project,” “forecast,” “predict,” “potential,” “seek,” “future,” “outlook,” and similar variations and expressions. Forward-looking statements are those that do not relate strictly to historical or current facts. Examples of forward-looking statements may include, among others, statements regarding Banzai International, Inc.’s (the “Company’s”): future financial, business and operating performance and goals; annualized recurring revenue and customer retention; ongoing, future or ability to maintain or improve its financial position, cash flows, and liquidity and its expected financial needs; potential financing and ability to obtain financing; acquisition strategy and proposed acquisitions and, if completed, their potential success and financial contributions; strategy and strategic goals, including being able to capitalize on opportunities; expectations relating to the Company’s industry, outlook and market trends; total addressable market and serviceable addressable market and related projections; plans, strategies and expectations for retaining existing or acquiring new customers, increasing revenue and executing growth initiatives; and product areas of focus and additional products that may be sold in the future. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Forward-looking statements are not guarantees of future performance, and our actual results of operations, financial condition and liquidity and development of the industry in which the Company operates may differ materially from those made in or suggested by the forward-looking statements. Therefore, investors should not rely on any of these forward-looking statements. Factors that may cause actual results to differ materially include changes in the markets in which the Company operates, customer demand, the financial markets, economic, business and regulatory and other factors, such as the Company’s ability to execute on its strategy. More detailed information about risk factors can be found in the Company’s Annual Report on Form 10-K and the Company’s Quarterly Reports on Form 10-Q under the heading “Risk Factors,” and in other reports filed by the Company, including reports on Form 8-K. The Company does not undertake any duty to update forward-looking statements after the date of this press release.

    Investor Relations
    Chris Tyson
    Executive Vice President
    MZ Group – MZ North America
    949-491-8235
    BNZI@mzgroup.us
    www.mzgroup.us

    Media
    Rachel Meyrowitz
    Director, Demand Generation, Banzai
    media@banzai.io

    The MIL Network –

    April 2, 2025

  • MIL-OSI Russia: HSE Opens Applications for Online Master’s Programs

    Translartion. Region: Russians Fedetion –

    Source: State University Higher School of Economics – State University Higher School of Economics –

    The admissions campaign for 32 master’s programs of the HSE online campus started on April 1, five of which are opening enrollment for the first time. We tell you more about which programs are available for study entirely online.

    The Higher School of Economics is the leader among universities in the Russian Federation and the CIS in terms of the number of educational programs implemented online and the number of students studying in them. Since the launch of the country’s first English-language online Master’s degree program, Master of Data Science, in 2020, the number of students admitted to the first year has increased 12-fold.

    In December 2024, HSE was among the 11 global universities that are leaders in online education according to the Online Learning Rankings 2024 of Times Higher Education magazine, and also became the only Russian university to win gold.

    In 2025, five more new programs will be added to the portfolio, most of which are cross-disciplinary and meet the needs of emerging markets.

    The program “Applied Linguistics: Foreign Language Teaching and Translation in the Digital Environment” includes two specializations to choose from. Students can study digital methods of teaching foreign languages or the development of educational programs EdTech and professionally oriented automated translation and language localization. The program “Instructional Design: Theory and Practice of Learning”, which is close in scope, will train specialists capable of designing educational experiences and developing programs, courses and training materials.

    Another new online program, “Chinese Language in Intercultural Business Communication,” is aimed at training personnel with knowledge of the Chinese language, cultural and social aspects, as well as business approaches for effective interaction with partners from China in order to build business, scientific, and educational contacts between the countries.

    The Digital Marketing program will provide future masters with knowledge and skills at the intersection of marketing, data analysis and digital technologies for the implementation of advertising campaigns in the digital environment. And graduates of the Digital Engineering for Computer Games program will have competencies in developing games and gaming software with in-depth knowledge of engine features.

    A total of 32 programs became available for submission of documents from April 1, most of which are implemented entirely online, and for three, in addition to the online track, an offline track is also available. Applicants can choose an unlimited number of educational programs. The acceptance of documents for the online master’s program will last until August 8 or September 15, depending on the chosen program.

    Master’s programs with application deadline until August 8, 2025:

    «Big data analytics“;

    «Artificial Intelligence in Marketing and Product Management“;

    «Artificial intelligence“;

    «Applied Linguistics: Foreign Language Teaching and Translation in the Digital Environment“, HSE University – St. Petersburg (new program);

    «Applied social psychology“;

    «Design and development of high-load information systems“, National Research University Higher School of Economics – Saint Petersburg;

    «Psychoanalysis and psychoanalytic psychotherapy» (offline and online tracks);

    «Psychoanalysis and psychoanalytic business consulting» (offline and online tracks);

    «Digital Engineering for Computer Games» (new program);

    «Economic analysis“.

    Programs for which application submission is available until September 15, 2025:

    «Investments in financial markets“;

    «Data Engineering“;

    «Interactive design“;

    «IT lawyer“, HSE University – Perm;

    «Cybersecurity“;

    «Chinese Language in Intercultural Business Communication» (new program);

    «Master of Science in Data Science“;

    «Marketing management“;

    «Instructional Design: Theory and Practice of Learning» (new program);

    «Management in creative industries“;

    «Innovative Business Management“;

    «Organization and Project Management“, HSE University – Nizhny Novgorod;

    «Strategic Communications Management“;

    «Digital Product Management“;

    «Digital Urbanism and City Analytics“;

    «Digital Marketing“, HSE University – Nizhny Novgorod (new program);

    “Artifice to the intelligentsian Andi Computer Vision”, National Research University Higher School of Economics – Nizhny Novgorod;

    “Date analysts And Social Statistix“;

    “Lay those“;

    “Master of Busineses Analytics“;

    “Master of the Finance“;

    “Master of OF InterNATIONAL BUSINESS” (offline and online tracks).

    For each program is installed list of entrance examinations, the most common format is a portfolio competition. All of them are held remotely. Training is carried out according to standards: 2 years are allocated for a master’s degree. Upon completion of the final qualifying work, graduates will receive a state diploma indicating full-time education in Russian and English. You can sign up for a consultation to learn more about the programs, the possibility of obtaining an educational loan, and ask other questions at page.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

    April 2, 2025

  • MIL-OSI: Defiance Launches SMCZ: 2X Short ETF for Super Micro Computer, Inc.

    Source: GlobeNewswire (MIL-OSI)

    MIAMI, April 01, 2025 (GLOBE NEWSWIRE) — Defiance ETFs introduces SMCZ, the Defiance Daily Target 2X Short SMCI ETF, a 2X inverse single-stock ETF designed to provide amplified inverse exposure to Super Micro Computer, Inc. (Nasdaq: SMCI). This ETF offers traders a way to seek enhanced downside exposure to Supermicro without requiring a margin account.

    SMCZ seeks daily investment results that correspond to twice (200%) the inverse of the daily percentage change of Super Micro Computer, Inc., a leader in high-performance server and storage solutions with a strong focus on supporting AI workloads.

    “SMCZ offers investors a way to seek inverse leveraged exposure to Supermicro, a key player in the AI hardware space,” said Sylvia Jablonski, CEO of Defiance ETFs. “As Supermicro continues to support the AI revolution through its energy-efficient infrastructure and scalable server solutions, this ETF provides a tactical tool for traders looking to express a bearish or hedged view on the company’s short-term market performance.”

    For more information, visit DefianceETFs.com.

    The Fund is not intended to be used by, and is not appropriate for, investors who do not intend to actively monitor and manage their portfolios. The Fund pursues a daily inverse leveraged investment objective, which means that the Fund is riskier than alternatives that do not use leverage because the Fund magnifies the inverse performance of the Underlying Security. The Fund is not suitable for all investors. The Fund is designed to be utilized only by knowledgeable investors who understand the potential consequences of seeking daily leveraged inverse (2X) investment results, understand the risks associated with the use of leverage, and are willing to monitor their portfolios frequently. For periods longer than a single day, the Fund will lose money if the Underlying Security’s performance is flat, and it is possible that the Fund will lose money even if the Underlying Security’s performance declines over a period longer than a single day. An investor could lose the full principal value of their investment within a single day.

    An investment in SMCZ is not an investment in Super Micro Computer, Inc.

    About Defiance ETFs

    Founded in 2018, Defiance is at the forefront of ETF innovation. Defiance is a leading ETF issuer specializing in thematic, income, and leveraged ETFs. Our first-mover leveraged single-stock ETFs empower investors to take amplified positions in high-growth companies, providing precise leverage exposure without the need to open a margin account.

    IMPORTANT DISCLOSURES
    Defiance ETFs LLC is the ETF sponsor. The Fund’s investment adviser is Tidal Investments, LLC (“Tidal” or the “Adviser”).

    The Fund’s investment objectives, risks, charges, and expenses must be considered carefully before investing. The prospectus and summary prospectus contain this and other important information about the investment company. Please read the prospectus and / or summary prospectus carefully before investing. Hard copies can be requested by calling 833.333.9383.

    Investing involves risk. Principal loss is possible. As an ETF, the funds may trade at a premium or discount to NAV. Shares of any ETF are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. A portfolio concentrated in a single industry or country, may be subject to a higher degree of risk.

    There is no guarantee that the Fund’s investment strategy will be properly implemented, and an investor may lose some or all of its investment.

    Total return represents changes to the NAV and accounts for distributions from the fund.

    Underlying Security Risk. The underlying security is subject to many risks that can negatively impact the Fund.

    Fixed Income Securities Risk. When the Fund invests in fixed income securities, the value of your investment in the Fund will fluctuate with changes in interest rates. Typically, a rise in interest rates causes a decline in the value of fixed income securities owned by the Fund.

    Leverage Risk. Leverage may increase the risk of loss and cause fluctuations in the market value of the Fund’s portfolio to have disproportionately large effects or cause the NAV of the Fund generally to decline faster than it would otherwise.

    Derivatives Risk. Derivatives may be more sensitive to changes in market conditions and may amplify risks.

    Compounding and Market Volatility Risk. The Fund’s performance for periods greater than a trading day will be the result of each day’s returns compounded over the period, which is likely to differ from -200% of the Underlying Security’s performance, before fees and expenses. Compounding has a significant impact on funds that are inverse leveraged and that rebalance daily.

    Single Issuer Risk. Issuer-specific attributes may cause an investment in the Fund to be more volatile than a traditional pooled investment which diversifies risk or the market generally. The value of the Fund, which focuses on an individual security, may be more volatile than a traditional pooled investment or the market as a whole and may perform differently from the value of a traditional pooled investment or the market as a whole.

    Swap Agreements. The use of swap transactions is a highly specialized activity, which involves investment techniques and risks different from those associated with ordinary portfolio securities transactions. These risks may prevent the Fund from achieving its leveraged investment objective, even if the Underlying Security later reverses all or a portion of its movement.

    Options Contracts. The use of options contracts involves investment strategies and risks different from those associated with ordinary portfolio securities transactions. The prices of options are volatile and are influenced by, among other things, actual and anticipated changes in the value of the underlying instrument, including the anticipated volatility, which are affected by fiscal and monetary policies and by national and international political, changes in the actual or implied volatility or the reference asset, the time remaining until the expiration of the option contract and economic events. The value of the options contracts in which the Fund invests are substantially influenced by the value of the Underlying Security.

    Counterparty Risk. The Fund is subject to counterparty risk by virtue of its investments in derivatives which exposes the Fund to the risk that the counterparty will not fulfill its obligation to the Fund.

    Non-Diversification Risk. Because the Fund is “non-diversified,” it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund. As a result, a decline in the value of an investment in a single issuer or a smaller number of issuers could cause the Fund’s overall value to decline to a greater degree than if the Fund held a more diversified portfolio.

    New Fund Risk. As of the date of this prospectus, the Fund has no operating history and currently has fewer assets than larger funds. Like other new funds, large inflows and outflows may impact the Fund’s market exposure for limited periods of time.

    Diversification does not ensure a profit nor protect against loss in a declining market.

    Brokerage Commissions may be charged on trades.

    Distributed by Foreside Fund Services, LLC

    Contact Information
    David Hanono
    info@defianceetfs.com
    833.333.9383

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/99f2ac6a-c809-4231-9e32-8f7ded8edc28

    The MIL Network –

    April 2, 2025

  • MIL-OSI: BigCommerce Becomes NAED Corporate Partner to Advance Digital Innovation in Electrical Distribution, a Key B2B Market

    Source: GlobeNewswire (MIL-OSI)

    AUSTIN, Texas, April 01, 2025 (GLOBE NEWSWIRE) — BigCommerce (Nasdaq: BIGC), a leading provider of open, composable commerce solutions for B2C and B2B brands and retailers, today announced its corporate partnership with the National Association of Electrical Distributors (NAED), reinforcing BigCommerce’s commitment to driving digital transformation and growth in the electrical distribution industry.

    “This partnership reflects BigCommerce’s commitment to the electrical distribution sector, with a specific focus on empowering manufacturers and distributors to embrace digital-first strategies, to drive growth,” said Lance Owide, general manager of B2B at BigCommerce. “As buying behaviors evolve and operational complexity increases, BigCommerce is committed to helping electrical distributors modernize their sales channels, streamline back-office processes and leverage data to enhance customer experiences.”

    By aligning with NAED, BigCommerce will help ignite innovation within the electrical distribution industry, enabling businesses to stay competitive and future-ready to successfully navigate the digital landscape. The partnership comes as BigCommerce continues to invest in its B2B commerce capabilities to support manufacturers, distributors and wholesalers seeking to improve efficiency and digitize their operations quickly on modest budgets.

    “We’re thrilled to welcome BigCommerce as an NAED corporate partner,” said Scott Wagner, director of industry transformation at NAED. “Their engagement in the recent NAED Eastern Regional Conference, including thought leadership on AI from BigCommerce’s Paul Dabrowski, highlights their commitment to helping distributors navigate the rapidly evolving tech landscape. We look forward to collaborating with BigCommerce to drive innovation and support the future of the industry.”

    As part of its ongoing commitment, BigCommerce will focus on key NAED initiatives, including the Digital Center of Excellence and workforce development programs. The company understands the talent shortages and retention challenges facing distributors and will work alongside NAED to develop strategies for attracting and nurturing the next generation of professionals.

    NAED’s Digital Center of Excellence will provide NAED members with the resources to enhance online sales, streamline operations, and optimize customer experiences. BigCommerce is excited to collaborate with NAED to drive modernization and success in electrical distribution.

    Learn more about BigCommerce’s B2B solutions here.

    About BigCommerce

    BigCommerce (Nasdaq: BIGC) is a leading open SaaS and composable ecommerce platform that empowers brands, retailers, manufacturers and distributors of all sizes to build, innovate and grow their businesses online. BigCommerce provides its customers sophisticated professional-grade functionality, customization and performance with simplicity and ease-of-use. Tens of thousands of B2C and B2B companies across 150 countries and numerous industries rely on BigCommerce, including Coldwater Creek, Harvey Nichols, King Arthur Baking Co., MKM Building Supplies, United Aqua Group and Uplift Desk. For more information, please visit www.bigcommerce.com or follow us on X and LinkedIn.

    BigCommerce® is a registered trademark of BigCommerce Pty. Ltd. Third-party trademarks and service marks are the property of their respective owners.

    Media Contact:
    Brad Hem
    pr@bigcommerce.com

    The MIL Network –

    April 2, 2025

  • MIL-OSI: NANO Nuclear Energy Bolsters its Regulatory Licensing Team with the Addition of Veteran Nuclear Professional Brent Hamilton as Director of Quality Assurance

    Source: GlobeNewswire (MIL-OSI)

    New York, N.Y., April 01, 2025 (GLOBE NEWSWIRE) — NANO Nuclear Energy Inc. (NASDAQ: NNE) (“NANO Nuclear” or “the Company”), a leading advanced nuclear energy and technology company focused on developing clean energy solutions, today announced the appointment Brent Hamilton as its Director of Quality Assurance.

    This appointment continues a series of important additions to NANO Nuclear’s engineering, scientific and regulatory licensing personnel as the Company seeks to progress its proprietary, advanced nuclear micro reactor designs through construction, demonstration, regulatory licensing and ultimately commercialization.

    Mr. Hamilton has over 26 years of quality control, quality engineering, and quality assurance experience, primarily in nuclear construction for commercial nuclear, Department of Energy projects, and nuclear fuel manufacturing. In these roles, he gained extensive experience in the development of Quality Management Systems and their implementation. Each were focused on meeting key regulatory licensing regulatory requirements, including those included as part 10 CFR Part 50, Appendix B; 10 CFR Part 70; 10 CFR Part 830; DOE O 414.1D; and/or CSA N286. His experience and knowledge are expected to be of great benefit in the identification of critical project attributes and the development of processes to validate them.

    “It is an honor to assume this role and contribute my expertise in implementing robust quality assurance programs for NANO Nuclear’s reactors in development,” said Brent Hamilton, Director of Quality Assurance of NANO Nuclear. “My background spans multiple nuclear initiatives, and I firmly believe that the U.S. nuclear industry’s future depends on innovative, dedicated teams like the one at NANO Nuclear. I look forward to helping ensure that all of NANO Nuclear’s technologies are built to the highest quality standards as we advance our plans.”

    Figure 1 – NANO Nuclear Energy Inc. Appoints Brent Hamilton as its Director of Quality Assurance.

    Mr. Hamilton is expected to bring invaluable insight and guidance as NANO Nuclear’s reactor development projects move forward. Mr. Hamilton has held quality leadership positions in projects such as: early site work for the Plutonium Processing Facility at the Savannah River National Laboratory (SRNL); development of manufacturing scale processes for TRISO fuel and establishment of a pilot facility in Oak Ridge, Tennessee; and construction of the Spent Fuel Handing Project (SFHP) for the Naval Reactors Facility in Idaho. Mr. Hamilton has spent many years involved with the construction of the AP1000 reactor projects in Georgia and South Carolina and the Depleted Uranium Hexafluoride Conversion Facility in Kentucky.

    “NANO Nuclear is rapidly expanding its roster with veteran nuclear energy professionals who have in-depth experience working closely with the U.S. Department of Energy, and Brent’s arrival reflects that trend and our commitment to retaining the best talent we can,” said Jay Yu, Founder and Chairman of NANO Nuclear. “His expertise aligns perfectly with our vision to advance our reactor designs to the next stage of development and I’m confident he will be a key contributor to NANO Nuclear’s growth.”

    “Brent is a highly experienced professional who brings a comprehensive understanding of nuclear reactor development, particularly our newly acquired KRONOS MMR™ Energy System and portable LOKI MMR™ from his tenure at Ultra Safe Nuclear Corporation,” said James Walker, Chief Executive Officer of NANO Nuclear. “His continuity in this area will be essential as we work to quickly move our reactors through the next stages of development. I am pleased to welcome a professional of his caliber to our expanding team.”

    About NANO Nuclear Energy, Inc.

    NANO Nuclear Energy Inc. (NASDAQ: NNE) is an advanced technology-driven nuclear energy company seeking to become a commercially focused, diversified, and vertically integrated company across five business lines: (i) cutting edge portable and other microreactor technologies, (ii) nuclear fuel fabrication, (iii) nuclear fuel transportation, (iv) nuclear applications for space and (v) nuclear industry consulting services. NANO Nuclear believes it is the first portable nuclear microreactor company to be listed publicly in the U.S.

    Led by a world-class nuclear engineering team, NANO Nuclear’s reactor products in development include patented KRONOS MMR™ Energy System, a stationary high-temperature gas-cooled reactor that is in construction permit pre-application engagement U.S. Nuclear Regulatory Commission (NRC) in collaboration with University of Illinois Urbana-Champaign (U. of I.), “ZEUS”, a solid core battery reactor, and “ODIN”, a low-pressure coolant reactor, and the space focused, portable LOKI MMR™, each representing advanced developments in clean energy solutions that are portable, on-demand capable, advanced nuclear microreactors.

    Advanced Fuel Transportation Inc. (AFT), a NANO Nuclear subsidiary, is led by former executives from the largest transportation company in the world aiming to build a North American transportation company that will provide commercial quantities of HALEU fuel to small modular reactors, microreactor companies, national laboratories, military, and DOE programs. Through NANO Nuclear, AFT is the exclusive licensee of a patented high-capacity HALEU fuel transportation basket developed by three major U.S. national nuclear laboratories and funded by the Department of Energy. Assuming development and commercialization, AFT is expected to form part of the only vertically integrated nuclear fuel business of its kind in North America.

    HALEU Energy Fuel Inc. (HEF), a NANO Nuclear subsidiary, is focusing on the future development of a domestic source for a High-Assay, Low-Enriched Uranium (HALEU) fuel fabrication pipeline for NANO Nuclear’s own microreactors as well as the broader advanced nuclear reactor industry.

    NANO Nuclear Space Inc. (NNS), a NANO Nuclear subsidiary, is exploring the potential commercial applications of NANO Nuclear’s developing micronuclear reactor technology in space. NNS is focusing on applications such as the LOKI MMR™ system and other power systems for extraterrestrial projects and human sustaining environments, and potentially propulsion technology for long haul space missions. NNS’ initial focus will be on cis-lunar applications, referring to uses in the space region extending from Earth to the area surrounding the Moon’s surface.

    For more corporate information please visit: https://NanoNuclearEnergy.com/

    For further NANO Nuclear information, please contact:

    Email: IR@NANONuclearEnergy.com
    Business Tel: (212) 634-9206

    PLEASE FOLLOW OUR SOCIAL MEDIA PAGES HERE:

    NANO Nuclear Energy LINKEDIN

    NANO Nuclear Energy YOUTUBE

    NANO Nuclear Energy X PLATFORM

    Cautionary Note Regarding Forward Looking Statements

    This news release and statements of NANO Nuclear’s management in connection with this news release contain or may contain “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. In this context, forward-looking statements mean statements related to future events, which may impact our expected future business and financial performance, and often contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “potential”, “will”, “should”, “could”, “would” or “may” and other words of similar meaning. In this press release, forward-looking statements include those related to the anticipated benefits to NANO Nuclear of the appointment of Mar. Hamilton, as well as the Company’s regulatory plans in general, as described herein. These and other forward-looking statements are based on information available to us as of the date of this news release and represent management’s current views and assumptions. Forward-looking statements are not guarantees of future performance, events or results and involve significant known and unknown risks, uncertainties and other factors, which may be beyond our control. For NANO Nuclear, particular risks and uncertainties that could cause our actual future results to differ materially from those expressed in our forward-looking statements include but are not limited to the following: (i) risks related to our U.S. Department of Energy (“DOE”) or related state or non-U.S. nuclear fuel licensing submissions, (ii) risks related the development of new or advanced technology and the acquisition of complimentary technology or businesses, including difficulties with design and testing, cost overruns, regulatory delays, integration issues and the development of competitive technology, (iii) our ability to obtain contracts and funding to be able to continue operations, (iv) risks related to uncertainty regarding our ability to technologically develop and commercially deploy a competitive advanced nuclear reactor or other technology in the timelines we anticipate, if ever, (v) risks related to the impact of U.S. and non-U.S. government regulation, policies and licensing requirements, including by the DOE and the U.S. Nuclear Regulatory Commission, including those associated with the recently enacted ADVANCE Act, and (vi) similar risks and uncertainties associated with the operating an early stage business a highly regulated and rapidly evolving industry. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this news release. These factors may not constitute all factors that could cause actual results to differ from those discussed in any forward-looking statement, and NANO Nuclear therefore encourages investors to review other factors that may affect future results in its filings with the SEC, which are available for review at www.sec.gov and at https://ir.nanonuclearenergy.com/financial-information/sec-filings. Accordingly, forward-looking statements should not be relied upon as a predictor of actual results. We do not undertake to update our forward-looking statements to reflect events or circumstances that may arise after the date of this news release, except as required by law.

    Attachment

    • NANO Nuclear Energy Inc.

    The MIL Network –

    April 2, 2025

  • MIL-OSI: LeddarTech Enters Into Further Amendments to Credit Facility and Bridge Financing Offer and Announces Receipt of Nasdaq Deficiency Notice

    Source: GlobeNewswire (MIL-OSI)

    QUEBEC CITY, Canada, April 01, 2025 (GLOBE NEWSWIRE) — LeddarTech® Holdings Inc. (“LeddarTech”) (Nasdaq: LDTC), an automotive software company that provides patented disruptive AI-powered low-level sensor fusion and perception software technology, LeddarVision™, today announced that it has entered into:

    • a seventeenth amending agreement (the “Seventeenth Amending Agreement”) with Fédération des caisses Desjardins du Québec (“Desjardins”) with respect to the amended and restated financing offer dated as of April 5, 2023 (the “Desjardins Credit Facility”), pursuant to which Desjardins has agreed to, among other things, (i) temporarily postpone payment of interest for the months of July through December 2024 until the earlier of (x) the date of the final disbursement of one or several equity investments in the borrower for minimum gross proceeds amount of US$35,000,000 in the aggregate (the “Short-Term Outside Date”), and (y) May 23, 2025; and (ii) decrease the minimum cash covenant under the Desjardins Credit Facility to C$1,800,000;
    • a fifth amending agreement (the “Fifth Amending Agreement”) with the initial bridge lenders and certain members of management and the board of directors (collectively, the “Bridge Lenders”) with respect to the bridge financing offer dated as of August 16, 2024 (the “Bridge Financing Offer”) pursuant to which the Bridge Lenders have agreed to, among other things, extend the maturity of the bridge loan to the earlier of (x) May 23, 2025 and (y) the business day following the Short-Term Outside Date.

    The Seventeenth Amending Agreement to the Desjardins Credit Facility and the Fifth Amending Agreement to the Bridge Financing Offer also provide that LeddarTech must initiate and produce a plan at the satisfaction of Desjardins and the other initial Bridge Lenders regarding a refinancing, recapitalization or any suitable transaction (the “Plan”). LeddarTech continues to fully consider all potential sources of financing and/or other alternatives. There is no certainty that LeddarTech will be able to raise additional funds and there can be no assurance that LeddarTech will be successful in pursuing and implementing any such alternatives (including the Plan), nor any assurance as to the outcome or timing of any such alternatives.

    In addition, the Seventeenth Amending Agreement to the Desjardins Credit Facility provides for a monthly payment by LeddarTech to Desjardins of C$125,000, which monthly fee is earned and payable on the first day of each month, until the Short-Term Outside Date, which must occur on or prior to May 23, 2025. The payment of the monthly fees applicable for the month of August 2024 and for the months up until (and including) January 2025 is postponed to the earlier of (x) the Short-Term Outside Date and (y) May 23, 2025.

    The foregoing descriptions of the Seventeenth Amending Agreement to the Desjardins Credit Facility and the Fifth Amending Agreement to the Bridge Financing Offer do not purport to be complete and are qualified in their entirety by reference to such amendments, copies of which will be filed under LeddarTech’s SEDAR+ and EDGAR profiles at www.sedarplus.ca and www.sec.gov, respectively.

    Receipt of Nasdaq Deficiency Notice

    LeddarTech also announces that it has received a letter from the Listing Qualifications Department of the Nasdaq Stock Market LLC indicating that, based upon the closing bid price of LeddarTech’s common shares for the 30 consecutive business day period from February 14, 2025 to March 28, 2025, LeddarTech did not comply with the minimum market value of listed securities (“MVLS”) of US$35,000,000 (the “Listing Requirement”). The letter also indicated that LeddarTech will be afforded a period of 180 calendar days to regain compliance.

    LeddarTech intends to actively monitor the MVLS of its common shares and will evaluate available options to regain compliance with the Listing Requirement. However, there can be no assurance that LeddarTech will be able to regain compliance with such Listing Requirement or maintain compliance with any of the other Nasdaq Capital Market continued listing requirements. Readers should also refer to the press release issued by LeddarTech on March 21, 2025 with respect to the non-compliance with the minimum bid price of US$1.00 per share required for continued listing on the Nasdaq Capital Market.

    The letter has no immediate effect on the listing of LeddarTech’s common shares, which will continue to be listed and traded on the Nasdaq Capital Market under the symbol “LDTC,” subject to LeddarTech’s compliance with the other continued listing requirements of the Nasdaq Capital Market.

    The foregoing also should be read in conjunction with the disclosures set forth in LeddarTech’s Report of Foreign Private Issuer on Form 6-K as filed with the Securities and Exchange Commission and under LeddarTech’s SEDAR+ profile on the date hereof, and LeddarTech’s Annual Report on Form 20-F for the year ended September 30, 2024 as filed with the Securities and Exchange Commission and under LeddarTech’s SEDAR+ profile on December 26, 2024, including the disclosures set forth under “Item 3.D – Key Information – Risk Factors” contained therein.

    About LeddarTech

    A global software company founded in 2007 and headquartered in Quebec City with additional R&D centers in Montreal and Tel Aviv, Israel, LeddarTech develops and provides comprehensive AI-based low-level sensor fusion and perception software solutions that enable the deployment of ADAS, autonomous driving (AD) and parking applications. LeddarTech’s automotive-grade software applies advanced AI and computer vision algorithms to generate accurate 3D models of the environment to achieve better decision making and safer navigation. This high-performance, scalable, cost-effective technology is available to OEMs and Tier 1-2 suppliers to efficiently implement automotive and off-road vehicle ADAS solutions.

    LeddarTech is responsible for several remote-sensing innovations, with over 170 patent applications (87 granted) that enhance ADAS, AD and parking capabilities. Better awareness around the vehicle is critical in making global mobility safer, more efficient, sustainable and affordable: this is what drives LeddarTech to seek to become the most widely adopted sensor fusion and perception software solution.

    Additional information about LeddarTech is accessible at www.leddartech.com and on LinkedIn, Twitter (X), Facebook and YouTube.

    Forward-Looking Statements

    Certain statements contained in this Press Release may be considered forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (which forward-looking statements also include forward-looking statements and forward-looking information within the meaning of applicable Canadian securities laws), including, but not limited to, statements relating to LeddarTech’s anticipated strategy, future operations, prospects, objectives and financial projections and other financial metrics. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “may,” “will,” “should,” “would,” “expect,” “anticipate,” “plan,” “likely,” “believe,” “estimate,” “project,” “intend” and other similar expressions among others. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation: (i) our ability to continue to maintain compliance with Nasdaq continued listing standards following our transfer to the Nasdaq Capital Market; (ii) our ability to timely access sufficient capital and financing on favorable terms or at all; (iii) our ability to maintain compliance with our debt covenants, including our ability to enter into any forbearance agreements, waivers or amendments with, or obtain other relief from, our lenders as needed; (iv) discussions regarding potential alternatives relating to refinancing, recapitalization or any suitable transaction (including the Plan); (v) our ability to execute on our business model, achieve design wins and generate meaningful revenue; (vi) our ability to successfully commercialize our product offering at scale, whether through the collaboration agreement with Texas Instruments, a collaboration with a Tier 2 supplier or otherwise; (vii) changes in our strategy, future operations, financial position, estimated revenues and losses, projected costs and plans; (viii) changes in general economic and/or industry-specific conditions; (ix) our ability to retain, attract and hire key personnel; (x) potential adverse changes to relationships with our customers, employees, suppliers or other parties; (xi) legislative, regulatory and economic developments; (xii) the outcome of any known and unknown litigation and regulatory proceedings; (xiii) unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism, outbreak of war or hostilities and any epidemic, pandemic or disease outbreak, as well as management’s response to any of the aforementioned factors; and (xiv) other risk factors as detailed from time to time in LeddarTech’s reports filed with the U.S. Securities and Exchange Commission (the “SEC”), including the risk factors contained in LeddarTech’s Form 20-F filed with the SEC. The foregoing list of important factors is not exhaustive. Except as required by applicable law, LeddarTech does not undertake any obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

    Contact:
    Chris Stewart, Chief Financial Officer, LeddarTech Holdings Inc.

    Tel.: + 1-514-427-0858, chris.stewart@leddartech.com

    Leddar, LeddarTech, LeddarVision, LeddarSP, VAYADrive, VayaVision and related logos are trademarks or registered trademarks of LeddarTech Holdings Inc. and its subsidiaries. All other brands, product names and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.

    LeddarTech Holdings Inc. is a public company listed on the Nasdaq under the ticker symbol “LDTC.”

    The MIL Network –

    April 2, 2025

  • MIL-OSI: ISS Recommends Shareholders Vote “FOR” Amplify’s Proposed Acquisition of Assets from Juniper Capital

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, April 01, 2025 (GLOBE NEWSWIRE) — Amplify Energy Corp. (NYSE: AMPY) (“Amplify” or the “Company”) announced that Institutional Shareholder Services (“ISS”), a leading independent proxy advisory firm, has recommended that shareholders vote “FOR” the Company’s proposed merger with Juniper Capital’s upstream Rocky Mountain portfolio companies. The Company issued the following statement in response to ISS’ recommendation:

    The Amplify Board of Directors (the “Board”) and management team are pleased that ISS agrees our pending merger will promote continued growth and long-term shareholder value. ISS took the time to discuss the merger with us, evaluated its benefits and assessed any potential concerns through its independent review process. We appreciate that, after conducting its diligence, ISS recommended FOR our proposed merger.

    In its report, ISS concluded1 that: “[Amplify] appears to have run a reasonable process and the proposed transaction, which was the best option available following discussions with multiple parties, appears to be better than a standalone scenario given increased scale, projected free cash flow accretion, synergy opportunities, and the increased optionality for portfolio optimization.”

    We believe this transaction represents a compelling opportunity to enhance long-term shareholder value by significantly strengthening Amplify’s financial position, diversifying its asset base, and creating operational efficiencies. We anticipate the proposed merger will:

    • Drive free cash flow and value accretion:
      • 2025 free cash flow per share projected to increase from $0.50 per share to greater than $0.70 per share2
      • Total proved reserve value projected to increase ~89%, from $688 million to $1.3 billion3
    • Increase portfolio flexibility:
      • New Rockies asset base allows Amplify the opportunity to accelerate value creation through portfolio optimization
      • Lower operating cost to improve resiliency of asset base in low or high commodity price environment
    • Enhance organic growth potential:
      • Juniper assets include multi-year inventory of identified, high quality undeveloped drilling locations
      • Proved undeveloped drilling locations adjacent to premier public company operators
    • Unlock meaningful operating synergies:
      • Pro-forma Adjusted EBITDA per BOE expected to increase 40% due to higher oil weighting and lower cost structure4
      • Pro-forma G&A per BOE expected to decrease >20% due to economies of scale5
    • Preserve shareholder value:
      • Increased free cash flow and scale, along with expected refinancing, projected to increase liquidity and flexibility
      • Free cash flow provides optionality to reduce leverage and return capital to shareholders

    The Board continues to recommend that shareholders vote “FOR” the two proposals regarding the merger. The Special Meeting of Shareholders to approve the proposals is scheduled to take place virtually on April 14, 2025, at 9:00 a.m. Central Time. The methods for voting and submitting proxies are described in the distributed proxy materials for the Special Meeting.

    About Amplify Energy
    Amplify Energy Corp. is an independent oil and natural gas company engaged in the acquisition, development, exploitation and production of oil and natural gas properties. Amplify’s operations are focused in Oklahoma, the Rockies (Bairoil), federal waters offshore Southern California (Beta), East Texas / North Louisiana, and the Eagle Ford (Non-op). For more information, visit www.amplifyenergy.com.

    Forward-Looking Statements
    This press release includes “forward-looking statements.” All statements, other than statements of historical fact, included in this press release that addresses activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. Terminology such as “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “continue,” “predict,” “potential,” “project” and similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements about the Company’s expectations of plans, goals, strategies (including measures to implement strategies), objectives and anticipated results with respect thereto. These statements address activities, events or developments that we expect or anticipate will or may occur in the future, including things such as projections of results of operations, plans for growth, goals, future capital expenditures, competitive strengths, references to future intentions and other such references. These forward-looking statements involve risks and uncertainties and other factors that could cause the Company’s actual results or financial condition to differ materially from those expressed or implied by forward-looking statements. Without limiting the generality of the foregoing, forward-looking statements contained in this press release specifically include the expectations of plans, strategies, objectives and growth and anticipated financial and operational performance of the Company and its affiliates. Please read the Company’s filings with the Securities and Exchange Commission (the “SEC”), including “Risk Factors” in the Company’s Annual Report on Form 10-K, and if applicable, the Company’s Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, which are available on the Company’s Investor Relations website at https://www.amplifyenergy.com/investor-relations/default.aspx or on the SEC’s website at http://www.sec.gov, for a discussion of risks and uncertainties that could cause actual results to differ from those in such forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements in this press release are qualified in their entirety by these cautionary statements. Except as required by law, the Company undertakes no obligation and does not intend to update or revise any forward-looking statements, whether as a result of new information, future results or otherwise.

    Cautionary Note on Reserves and Resource Estimates
    The SEC permits oil and gas companies, in their filings with the SEC, to disclose only proved, probable and possible reserves. Any reserve estimates provided in this press release that are not specifically designated as being estimates of proved reserves may include estimated reserves or locations not necessarily calculated in accordance with, or contemplated by, the SEC’s latest reserve reporting guidelines. You are urged to consider closely the oil and gas disclosures in the Company’s Annual Report on Form 10-K and our other reports and filings with the SEC.

    Important Additional Information Regarding the Mergers Will Be Filed With the SEC.
    In connection with the proposed mergers, the Company has filed a definitive proxy statement. The definitive proxy statement has been sent to the stockholders of record of the Company. The Company may also file other documents with the SEC regarding the mergers. INVESTORS AND SECURITY HOLDERS OF AMPLIFY ARE ADVISED TO CAREFULLY READ THE DEFINITIVE PROXY STATEMENT AND ANY OTHER RELEVANT MATERIALS FILED WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE MERGERS, THE PARTIES TO THE MERGERS AND THE RISKS ASSOCIATED WITH THE MERGERS. Investors and security holders may obtain a free copy of the definitive proxy statement and other relevant documents filed by Amplify with the SEC from the SEC’s website at www.sec.gov. Security holders and other interested parties will also be able to obtain, without charge, a copy of the definitive proxy statement and other relevant documents (when available) by (1) directing your written request to: 500 Dallas Street, Suite 1700, Houston, Texas or (2) contacting our Investor Relations department by telephone at (832) 219-9044 or (832) 219-9051. Copies of the documents filed by the Company with the SEC will be available free of charge on the Company’s website at http://www.amplifyenergy.com.

    Participants in the Solicitation.
    Amplify and certain of its respective directors, executive officers and employees may be considered participants in the solicitation of proxies in connection with the proposed transaction. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of the stockholders of Amplify in connection with the transaction, including a description of their respective direct or indirect interests, by security holdings or otherwise, is included in the definitive proxy statement filed with the SEC. Additional information regarding the Company’s directors and executive officers is also included in Amplify’s Notice of Annual Meeting of Stockholders and 2024 Proxy Statement, which was filed with the SEC on April 5, 2024. These documents are available free of charge as described above.

    Footnotes

    1) Permission to use quotation neither sought nor obtained
    2) Based on Amplify March 5, 2025, guidance and full year 2025 Juniper forecast at flat pricing; (NYMEX WTI, HH) – $71.00, $3.75. Free cash flow is a non-GAAP measure. Amplify believes that a quantitative reconciliation of such forward-looking information to the most comparable financial measure calculated and presented in accordance with GAAP cannot be made available without unreasonable efforts. A reconciliation of this non-GAAP financial measure would require Amplify to predict the timing and likelihood of future transactions and other items that are difficult to accurately predict. This forward-looking measure, or its probable significance, can be quantified with a reasonable degree of accuracy. Accordingly, a reconciliation of the most directly comparable forward-looking GAAP measures is not provided.
    3) 2024 Year End reserves are evaluated at flat pricing: (NYMEX WTI, HH) – $70.00, $3.50
    4) Based on Amplify 3Q24 reported results, 3Q24 Juniper unaudited results adjusted for G&A synergies (pro-forma G&A excluding synergies equal to $3.38/Boe)
    5) Based on Amplify G&A per BOE in 3Q24, assuming $1 MM of incremental G&A post-merger and Juniper production in 3Q24
       

    Contacts

    Amplify Energy

    Jim Frew — Senior Vice President and Chief Financial Officer
    (832) 219-9044
    jim.frew@amplifyenergy.com

    Michael Jordan — Director, Finance and Treasurer
    (832) 219-9051
    michael.jordan@amplifyenergy.com  

    FTI Consulting

    Tanner Kaufman / Brandon Elliott / Rose Zu
    amplifyenergy@fticonsulting.com

    The MIL Network –

    April 2, 2025

  • MIL-OSI Asia-Pac: WAVES ‘Create in India Challenge’ Crosses 85,000 Registrations with 1100 International Participants

    Source: Government of India

    WAVES ‘Create in India Challenge’ Crosses 85,000 Registrations with 1100 International Participants

    750 Finalists from 32 Challenges to participate in WAVES ‘CreatoSphere’ at Mumbai from 1st to 4th May, 2025

    Posted On: 01 APR 2025 3:54PM by PIB Delhi

    The Create in India Challenge (CIC) Season-1, launched as part of the World Audio Visual and Entertainment Summit (WAVES) set to take place at the Jio World Centre in Mumbai from 1st  to 4th May, 2025, has achieved a new milestone of crossing 85,000 registrations including 1,100 International participants. Over 750 finalists, selected after a meticulous selection process, from across 32 diverse challenges, will get a unique opportunity to showcase the outcome and output of their individual challenge, their talent and skills, apart from networking opportunities with business leaders from their respective sector including pitching sessions, and learn from global stalwarts through masterclasses, panel discussions, conferences etc. The winners of the Create in India challenges will be felicitated with ‘WAVES Creator Awards’ in a grand ceremony at Mumbai.

    These challenges have made a powerful entry into the creative landscape, igniting a wave of innovation and engagement across India and beyond, emerging as a premier platform for creative talent on a global scale. Featuring 32 diverse and dynamic challenges including the high-energy Reel Making Competition, the solution-oriented Truth Tell Hackathon, the visionary Young Filmmaker’s Challenge, and the imaginative Comics Creator Championship, CIC offers a unique opportunity for creators to showcase their skills. Other flagship events such as the A.I. Avatar Creator Challenge, WAM! Anime Challenge, Esports Tournament, Trailer Making Competition, Theme Music Competition, and the cutting-edge XR Creator Hackathon further establish CIC as a definitive launchpad for the next generation of storytellers, designers, and digital innovators.

    By uniting creators across disciplines, borders, and generations, CIC not only celebrates India’s creative energy — it has sparked a global dialogue around the future of storytelling and digital expression. With this remarkable foundation, CIC is poised to scale new heights in the seasons ahead, continuing its mission to empower creators and shape the cultural landscape of tomorrow.

    About WAVES

    The first World Audio Visual & Entertainment Summit (WAVES), a milestone event for the Media & Entertainment (M&E) sector, will be hosted by the Government of India in Mumbai, Maharashtra, from May 1 to 4, 2025.

    Whether you’re an industry professional, investor, creator, or innovator, the Summit offers the ultimate global platform to connect, collaborate, innovate and contribute to the M&E landscape.

    WAVES is set to magnify India’s creative strength, amplifying its position as a hub for content creation, intellectual property, and technological innovation. Industries and sectors in focus include Broadcasting, Print Media, Television, Radio, Films, Animation, Visual Effects, Gaming, Comics, Sound and Music, Advertising, Digital Media, Social Media Platforms, Generative AI, Augmented Reality (AR), Virtual Reality (VR), and Extended Reality (XR).

    Have questions? Find answers here  

    Stay updated with the latest announcements from PIB Team WAVES

    Register for WAVES now.

    ******

    **Name of Author

    PIB TEAM WAVES 2025 | Dharmendra Tewari /Navin Sreejith  / | 83

     

    (Release ID: 2117273) Visitor Counter : 70

    MIL OSI Asia Pacific News –

    April 2, 2025

  • MIL-OSI USA: ARMD Solicitations (ULI Proposals Invited)

    Source: NASA

    This ARMD solicitations page compiles the opportunities to collaborate with NASA’s aeronautical innovators and/or contribute to their research to enable new and improved air transportation systems. A summary of available opportunities with key dates requiring action are listed first. More information about each opportunity is detailed lower on this page.
    University Leadership InitiativeStep-A proposals due by June 26, 2025.
    University Student Research ChallengeProposals for Cycle 3 are due by June 26, 2025.

    Advanced Capabilities for Emergency Response Operations
    GENERAL ANNOUNCEMENT OF REQUEST FOR INFORMATION
    Advanced Capabilities for Emergency Response Operations is using this request for information to identify technologies that address current challenges facing the wildland firefighting community. NASA is seeking information on data collection, airborne connectivity and communications solutions, unmanned aircraft systems traffic management, aircraft operations and autonomy, and more. This will support development of a partnership strategy for future collaborative demonstrations.
    Interested parties were requested to respond to this notice with an information package no later than 4 pm ET, October 15, 2023, that shall be submitted via https://nari.arc.nasa.gov/acero-rfi. Any proprietary information must be clearly marked. Submissions will be accepted only from United States companies.
    View the full RFI Announcement here.

    Advanced Air Mobility Mission
    GENERAL ADVANCED AIR MOBILITYANNOUNCEMENT OF REQUEST FOR INFORMATIONThis request for information (RFI) is being used to gather market research for NASA to make informed decisions regarding potential partnership strategies and future research to enable Advanced Air Mobility (AAM). NASA is seeking information from public, private, and academic organizations to determine technical needs and community interests that may lead to future solicitations regarding AAM research and development.
    This particular RFI is just one avenue of multiple planned opportunities for formal feedback on or participation in NASA’s AAM Mission-related efforts to develop these requirements and help enable AAM. 
    The respond by date for this RFI closed on Feb. 1, 2025, at 6 p.m. EST.
    View the full RFI announcement here.

    NASA Research Opportunities in Aeronautics
    NASA’s Aeronautics Research Mission Directorate (ARMD) uses the NASA Research Announcement (NRA) process to solicit proposals for foundational research in areas where ARMD seeks to enhance its core capabilities.
    Competition for NRA awards is open to both academia and industry.
    The current open solicitation for ARMD Research Opportunities is ROA-2023 and ROA-2024.
    Here is some general information to know about the NRA process.

    NRA solicitations are released by NASA Headquarters through the Web-based NASA Solicitation and Proposal Integrated Review and Evaluation System (NSPIRES).
    All NRA technical work is defined and managed by project teams within these four programs: Advanced Air Vehicles Program, Airspace Operations and Safety Program, Integrated Aviation Systems Program, and Transformative Aeronautics Concepts Program.
    NRA awards originate from NASA’s Langley Research Center in Virginia, Ames Research Center in California, Glenn Research Center in Cleveland, and Armstrong Flight Research Center in California.
    Competition for NRA awards is full and open.
    Participation is open to all categories of organizations, including educational institutions, industry, and nonprofits.
    Any updates or amendments to an NRA is posted on the appropriate NSPIRES web pages as noted in the Amendments detailed below.
    ARMD sends notifications of NRA updates through the NSPIRES email system. In order to receive these email notifications, you must be a Registered User of NSPIRES. However, note that NASA is not responsible for inadvertently failing to provide notification of a future NRA. Parties are responsible for regularly checking the NSPIRES website for updated NRAs.

    ROA-2024 NRA Amendments

    Amendment 1
    (Full text here.)
    Amendment 1 to the NASA ARMD Research Opportunities in Aeronautics (ROA) 2024 NRA has been posted on the NSPIRES web site at https://nspires.nasaprs.com.
    The announcement solicits proposals from accredited U.S. institutions for research training grants to begin the academic year. This NOFO is designed to support independently conceived research projects by highly qualified graduate students, in disciplines needed to help advance NASA’s mission, thus affording these students the opportunity to directly contribute to advancements in STEM-related areas of study. AAVP Fellowship Opportunities are focused on innovation and the generation of measurable research results that contribute to NASA’s current and future science and technology goals.
    Research proposals are sought to address key challenges provided in Elements of Appendix A.8.
    Notices of Intent (NOIs) are not required.
    A budget breakdown for each proposal is required, detailing the allocation of the award funds by year. The budget document may adhere to any format or template provided by the applicant’s institution.
    Proposals were due by April 30, 2024, at 5 PM ET.

    Amendment 2UPDATED ON MARCH 31, 2025
    (Full text here.)
    University Leadership Initiative (ULI) provides the opportunity for university teams to exercise technical and organizational leadership in proposing unique technical challenges in aeronautics, defining multi-disciplinary solutions, establishing peer review mechanisms, and applying innovative teaming strategies to strengthen the research impact.
    Research proposals are sought in six ULI topic areas in Appendix D.4.
    Topic 1: Safe, Efficient Growth in Global Operations (Strategic Thrust 1)
    Topic 2: Innovation in Commercial High-Speed Aircraft (Strategic Thrust 2)
    Topic 3: Ultra-Efficient Subsonic Transports (Strategic Thrust 3)
    Topic 4: Safe, Quiet, and Affordable Vertical Lift Air Vehicles (Strategic Thrust 4)
    Topic 5: In-Time System-Wide Safety Assurance (Strategic Thrust 5)
    Topic 6: Assured Autonomy for Aviation Transformation (Strategic Thrust 6)
    This NRA will utilize a two-step proposal submission and evaluation process. The initial step is a short mandatory Step-A proposal, which is due June 26, 2025. Those offerors submitting the most highly rated Step-A proposals will be invited to submit a Step-B proposal. All proposals must be submitted electronically through NSPIRES at https://nspires.nasaprs.com. An Applicant’s Workshop will be held on Thursday April 30, 2025; 1:00-3:00 p.m. ET (https://uli.arc.nasa.gov/applicants-workshops/workshop9) (Page will be live closer to the event.)
    An interested partners list for this ULI is at https://uli.arc.nasa.gov/partners. To be listed as an interested lead or partner, please send electronic mail to hq-univpartnerships@mail.nasa.gov with “ULI Partnerships” in the subject line and include the information required for the table in that web page.

    Amendment 3
    (Full text here)
    Commercial Supersonic Technology seeks proposals for a fuel injector design concept and fabrication for testing at NASA Glenn Research Center.
    The proposal for the fuel injector design aims to establish current state-of-the-art in low NOx supersonic cruise while meeting reasonable landing take-off NOx emissions. The technology application timeline is targeted for a supersonic aircraft with entry into service in the 2035+ timeframe.
    These efforts are in alignment with activities in the NASA Aeronautics Research Mission Directorate as outlined in the NASA Aeronautics Strategic Implementation Plan, specifically Strategic Thrust 2: Innovation in Commercial High-Speed Aircraft.
    Proposals were due by May 31, 2024 at 5 pm EDT.

    Amendment 4UPDATED ON JANUARY 16, 2025
    (Full text here)
    University Student Research Challenge seeks to challenge students to propose new ideas/concepts that are relevant to NASA Aeronautics.  USRC will provide students, from accredited U.S. colleges or universities, with grants for their projects and with the challenge of raising cost share funds through a crowdfunding campaign.  The process of creating and implementing a crowdfunding campaign acts as a teaching accelerator – requiring students to act like entrepreneurs and raise awareness about their research among the public.
    The solicitation goal can be accomplished through project ideas such as advancing the design, developing technology or capabilities in support of aviation, by demonstrating a novel concept, or enabling advancement of aeronautics-related technologies.
    Notices of Intent are not required for this solicitation.
    Proposals for Cycle 3 are due June 26, 2025.
    Proposals can also be submitted later and evaluated in the second and third cycles.
    The USRC Q&A/Info Session and Proposal Workshop will be held on the days/times below. Please join us on TEAMS using the Meeting Link, or call in via +1 256-715-9946,,317928116#.

    USRC Cycle
    Information Session/Q&A Date
    Proposal Due Date

    Cycle 1
    Sept. 20, 2024 at 2 pm ET
    Nov. 7, 2024

    Cycle 2
    Jan. 27, 2025 at 2 pm ET
    March 13, 2025

    Cycle 3
    May 12, 2024 at 2 pm ET
    June 26, 2025

    MIL OSI USA News –

    April 2, 2025

  • MIL-OSI USA: Local and Mainland Egg Prices Comparable in Latest Data for Honolulu

    Source: US State of Hawaii

    Local and Mainland Egg Prices Comparable in Latest Data for Honolulu

    Posted on Mar 31, 2025 in Main

    March 31, 2025
    NR25-07

    HONOLULU – The price of local and mainland eggs in Honolulu rose significantly in the first quarter of this year. However, the price between local and mainland eggs was comparable, according to latest statistics from the Hawai‘i Department of Agriculture (HDOA), Market Analysis and News Branch (MANB).

    Since Jan. 1, 2025, egg prices rose by 20% for local eggs, with a median price of $9.51 per dozen, while the price for imported mainland eggs rose 30% to $9.46, just a few cents difference.

    Hawai‘i still pays significantly higher prices than the rest of the U.S., which averages at $4.90 per dozen. The increase in the price of mainland eggs can be mainly attributed to the highly pathogenic avian influenza (HPAI) which has impacted egg production across the continental U.S.

    January 2025, HDOA released data that indicated that between 2021 and 2024, the price for a dozen locally produced eggs rose by 28.4% from $6.91 to $8.87 while the price of imported mainland eggs increased by 51.8% from $5.50 to $8.35. The data collected between 2023 and 2024 show that local egg prices rose by 2.7% while mainland eggs prices rose by 6.2%.

    “While the increasing price of all eggs is a concern for everyone, it is good to see that local eggs are able to be very competitive in the marketplace,” said Sharon Hurd, chairperson of the Hawai‘i Board of Agriculture. “Of course, the added benefit of locally produced eggs is that they are fresher and we hope that everyone will choose local when available and support our local producers.”

    While HPAI was detected in two locations on O‘ahu in early November 2024, no further detections of the virus have been confirmed and no Hawai‘i egg production facilities have been involved. HDOA continues to work with the local poultry industry to keep HPAI from infecting flocks.

    # # #

    Statistics on Egg Prices, Quarter 1, 2025
    Statistics on Egg Prices, December 2021-2024

    MIL OSI USA News –

    April 2, 2025

  • MIL-OSI United Nations: Global Assessment Report (GAR) 2025

    Source: UNISDR Disaster Risk Reduction

    Disasters, pandemics, and other shocks are becoming more frequent, more intense, and more unpredictable. At the same time, the costs of responding and rebuilding are rising faster than many countries can manage. To avoid falling deeper into debt and disruption, we need a new kind of financial system, one that is ready before the crisis starts, and flexible enough to support recovery after.

    This section explores how governments, businesses, and financial institutions can work together to build that system. It looks at how public and private money can be combined to fund resilience, how better data and regulation can reduce risk, and how financial tools, from insurance to social protection, can help people and economies bounce back stronger.

    Each part offers practical ways to shift from a system that reacts to disasters, to one that plans, protects, and invests in long-term resilience.

    5.1 Scaling Up Blended Finance

    Most countries do not have enough public money to meet their growing disaster and climate risks. But private investors are often hesitant to put money into high-risk areas. Blended finance helps solve this problem by using public or development funding to reduce risk and attract private capital.

    Platforms like GAIA (Global Action on Investment for Adaptation <<https://www.greenclimate.fund/project/fp223>>) aim to make this easier. [add link] GAIA works to bring governments, private investors, and communities together to support projects that reduce disaster risk, protect ecosystems, and build long-term resilience. These platforms make it easier to fund solutions in places that need them most, but that investors might otherwise avoid.

    Blended finance is not just about funding projects. It is about changing how and where money flows, so that resilience becomes part of every investment decision.

    5.2 Corporate Climate Risk Disclosures

    Businesses face growing risks from climate change and disasters, but many still do not fully understand or report them. This creates blind spots for investors, insurers, and regulators. One important step is to make climate risk disclosure part of standard business reporting.

    Mandatory reporting systems, like those being adopted in the European Union and other regions, help companies identify their exposure to climate risks. This includes physical risks, like floods or heatwaves, and financial risks, such as supply chain disruptions or energy price shocks.

    When risks are made visible, businesses are more likely to act early. Investors can make better decisions, and regulators can help reduce systemic financial risks across the economy.

    5.3 Expanding Regional Insurance Mechanisms

    For many small or vulnerable countries, the cost of disasters is too big to manage alone. Regional insurance pools allow countries to share the risk and access quick funding after a shock. These systems are especially useful for small island states and low-income countries with limited financial reserves.

    Two leading examples are: [links to those initiatives in the web]

    These mechanisms help countries access payouts quickly after hurricanes, earthquakes, or floods. This reduces pressure on public budgets and speeds up recovery. Countries pay into the pool, and when disaster strikes, they get fast, rules-based support. Check how regional insurance helped Dominica recover more quickly from one of the strongest storms ever recorded in the Caribbean.

    Case study: [CCRIF payout after Hurricane Maria in Dominica]

    5.4. Unlocking Green Resilience Bonds

    Green bonds are already used to fund projects that reduce emissions or support clean energy. But they can also support disaster resilience. When these bonds include components like flood protection, climate-smart agriculture, or heat-resilient infrastructure, they become powerful tools for long-term risk reduction.

    Some governments and financial institutions are now designing green resilience bonds that combine climate and disaster goals. These bonds allow investors to support both environmental and social outcomes.

    For example, Costa Rica issued green bonds with a focus on nature-based solutions and climate adaptation. These projects aim to both cut emissions and reduce the impacts of floods and droughts.

    Case study: [Costa Rica’s green bond program]

    5.5. Adaptive Social Protection for Disaster Recovery

    Social protection systems, like cash transfers, food assistance, or public works programs, can be powerful tools for resilience, especially when they are flexible. When designed to scale up during shocks, they can protect people from falling into poverty after a disaster.

    This is called adaptive social protection. It links disaster early warning systems with financial systems that can respond quickly to changing needs. For example, a drought warning might trigger extra cash support for farmers before their crops fail.

    Like in the Philippines, a national social protection program was adapted to respond to typhoon impacts. It helped deliver assistance more quickly and reach the most vulnerable communities during emergencies.

    Case study: [Philippines’ shock-responsive social protection system]

    5.6. How Central Banks Can Support Resilience Finance

    Central banks play a key role in keeping economies stable. As climate risks grow, they can also help make financial systems more resilient. This means looking at how disasters affect inflation, lending, and investment flows, and adjusting policies to support preparedness.

    Central banks can include disaster and climate risks in their stress tests and financial supervision. They can also support green finance guidelines, invest in resilience bonds, or offer incentives for banks that support risk reduction projects.

    Bangladesh’s central bank created a special refinancing scheme to support solar energy, flood-resilient housing, and climate-smart farming. This shows how monetary policy can support resilience at the local level.

    Case study: [Bangladesh Bank’s green refinancing program]

    MIL OSI United Nations News –

    April 2, 2025

  • MIL-OSI Economics: DSTA and Thales Announce AI-Driven Co-Lab to Strengthen Singapore’s Defence Systems

    Source: Thales Group

    Headline: DSTA and Thales Announce AI-Driven Co-Lab to Strengthen Singapore’s Defence Systems

    01 Apr 2025

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    • Defence Science and Technology Agency (DSTA) and Thales announce a joint lab to develop AI-enabled technologies which can augment combat systems currently in use by the Singapore Armed Forces.
    • With an initial focus on solutions for Counter-Unmanned Aircraft Systems (C-UAS) and Advanced Sensing applications, both parties have co-developed advanced AI algorithms that enable combat systems to efficiently handle fast-evolving drone threats.
    • DSTA and Thales signed a Memorandum of Understanding (MoU) in 2022 to deepen and broaden collaboration from development of smart technologies to better supportability of systems. This Co-Lab is another outcome of this MoU that will deepen our collaboration.
    Representatives from DSTA and Thales – ©Thales

    At the 2025 Singapore Defence Technology Summit (Tech Summit), a joint team from DSTA and Thales showcased its recent collaboration on counter-drone technologies, with tangible outcomes that can potentially be integrated into systems currently in-use with the Singapore Armed Forces (SAF).

    Over the last five months, engineers from both organisations co-developed Machine-Learning (ML)-enabled software modules that reduce the rate of false alarms in drone detection. By enhancing a radar’s sensor performance with the help of AI, the algorithms offer operators and end-users heightened situational awareness that enable faster and more accurate drone detection and classification.

    Through this demonstration of a new Concept of Operations (CONOPs) in enhanced radar performance in drones, the team leveraged physics-, knowledge- and data-based AI, bringing together DSTA’s deep domain knowledge of the drone ecosystem and the technical and AI skills of Thales researchers and engineers. The announcement of the Co-Lab represents the next step in the strategic cooperation between DSTA and Thales, underscoring both parties’ ambitions to support the SAF in dealing with emerging and asymmetric threats.

    “The DSTA-Thales Joint Lab marks a strategic step in advancing next-generation defence technologies. By harnessing AI and advanced sensing technologies, we are adopting a more agile approach to capability development, enabling us to tackle evolving threats. This collaboration reinforces DSTA’s commitment to working with global partners to co-develop advanced capabilities, ensuring our defence systems remain robust, adaptive, and future-ready,” said Mr Roy Chan, Deputy Chief Executive (Operations), DSTA.

    “Thales’ AI for critical systems must meet the stringent reliability, safety and security requirements for armed forces worldwide. It is a true recognition when our customers trust us to co-develop solutions alongside them that address the pain points and challenges of the end-user. We have achieved the outcomes of the MoU in a relatively short span of time, with our teams harnessing AI to create solutions with real-world implications. This Co-Lab with DSTA speaks to the years of collaboration between us and our joint commitment to provide the best technologies for the SAF and the Singapore Ministry of Defence.” said Pascale Sourisse, President and CEO, Thales International.

    Thales holds deep expertise and technological mastery in radars, with air traffic management radars used by the majority of civil aviation authorities in the region, as well as operating a Radar Centre of Excellence in Singapore. As a key partner to the SAF for over 50 years, Thales also operates a Defence Hub for services in Singapore, with skilled local expertise on-hand to support DSTA and Mindef for support and maintenance of systems currently in use with the armed forces.

    About Thales

    Thales (Euronext Paris: HO) is a global leader in advanced technologies for the Defence, Aerospace, and Cyber & Digital sectors. Its portfolio of innovative products and services addresses several major challenges: sovereignty, security, sustainability and inclusion.

    The Group invests more than €4 billion per year in Research & Development in key areas, particularly for critical environments, such as Artificial Intelligence, cybersecurity, quantum and cloud technologies. Thales has more than 83,000 employees in 68 countries. In 2024, the Group generated sales of €20.6 billion.

    PRESS contact

    Thales, Corporate Communications Asia

    Jamie CHOW

    jamie.chow@thalesgroup.com

    MIL OSI Economics –

    April 2, 2025

  • MIL-OSI Asia-Pac: Update on Anemia Mukt Bharat

    Source: Government of India

    Update on Anemia Mukt Bharat

    Government supplies fortified rice enriched with essential micronutrients through Targeted Public Distribution System, Pradhan Mantri Poshan Shakti Nirman scheme, Integrated Child Development Services and Other Welfare Schemes in all States/UTs to tackle micronutrient deficiencies

    Rice Fortification initiative was scaled up in a phased manner, and by March 2024, all custom-milled rice has been replaced with fortified rice in every scheme of the Government

    The number of laboratories notified by FSSAI for Fortified Rice, Fortified Rice Kernels and Premix for Fortified Rice Kernels are 57, 35 and 15 respectively

    Posted On: 01 APR 2025 2:14PM by PIB Delhi

    The Government of India implements Anemia Mukt Bharat (AMB) strategy to reduce prevalence of anemia among children and women including pregnant women and lactating mothers in life cycle approach through implementation of six interventions ,which are Prophylactic Iron and Folic Acid supplementation (IFA Syrup provided biweekly to children 6-59 months, IFA Pink tablets provided to children 5-9 years, IFA Blue tablets provided to Adolescent 10-19 years, IFA Red tablets provided weekly to Women of Reproductive age group and IFA Red tablets daily for 180 days provided to pregnant women and lactating mothers), Deworming (Pregnant women provided albendazole tablet in second trimester and all children provided albendazole tablets during National Deworming Day), Intentisified Behavioral Change Communication campaign, Testing for anemia and treatment as per anemia management protocols, mandatory provision of IFA fortified food in public health programmes and addressing non nutritional causes of anemia especially malaria, flourosis and hemoglobinopathies via robust institutional mechanism.

    The States are provided funds by the National Health Mission based on the proposals received in their Annual Programme Implementation Plans. Under NHM, for the FY 2024-25, Rs 805.91 Crores has been allocated to the States/UTs to implement various activities under Anemia Mukt Bharat programme.

    As per information received from the Department of Food and Public Distribution, the Government supplies fortified rice enriched with essential micronutrients such as Iron, Folic acid, Vitamin B12, through Targeted Public Distribution System (TPDS), Pradhan Mantri Poshan Shakti Nirman (PM POSHAN) scheme, Integrated Child Development Services (ICDS) and Other Welfare Schemes (OWS) in all States/UTs to tackle micronutrient deficiencies. The Rice Fortification initiative was scaled up in a phased manner, and by March 2024, all custom-milled rice has been replaced with fortified rice in every scheme of the Government.

    As per information received, the Food Safety and Standards Authority of India has issued a list of FSSAI notified laboratories, approved particularly for testing of fortificants (Iron, Vitamin B12 and Vitamin B9) in Fortified Rice, Fortified Rice Kernels (FRK) and Premix for Fortified Rice Kernels. The number of laboratories notified for Fortified Rice, Fortified Rice Kernels (FRK) and Premix for Fortified Rice Kernels are fifty-seven, thirty-five and fifteen respectively.

    The Union Minister of State for Health and Family Welfare, Smt. Anupriya Patel stated this in a written reply in the Rajya Sabha today.

     

    ****

    MV

    HFW/ Update on Anemia Mukt Bharat/01 April 2025/1

    (Release ID: 2117215) Visitor Counter : 258

    MIL OSI Asia Pacific News –

    April 2, 2025

  • MIL-OSI Asia-Pac: HKMA and GCFFC co-host APAC Fighting Financial Crime Conference 2025 (with photos)

    Source: Hong Kong Government special administrative region

    The following is issued on behalf of the Hong Kong Monetary Authority:
     
    The Hong Kong Monetary Authority (HKMA) and the Global Coalition to Fight Financial Crime (GCFFC) co-hosted the APAC Fighting Financial Crime Conference 2025 today (April 1), under the theme of “Fighting Financial Crime in a More Complex World”.

    The event gathered leading global and regional anti-money laundering (AML) and counter-financing of terrorism (CFT) experts together with participants from across Hong Kong’s AML/CFT ecosystem, including representation from banks, government agencies, financial regulators, and law enforcement agencies. Participants shared insights on how to improve the fight against fraud and financial crime with keynotes, panels and interactive discussions.
     
    Welcoming the participants, Mr Raymond Chan, Executive Director (Enforcement and AML) of the HKMA, said, “Criminality has evolved on the back of the digitalisation of financial services and we must respond quicker and with the same level of innovation, including how we collaborate to share information and leverage artificial intelligence to deliver step changes in the results achieved.”
     
    Mr Keith Yip, Director of Crime and Security of the Hong Kong Police Force, said, “Through relentless collaboration and cutting-edge strategies, we shall prevail in the fight against financial crimes — from cyber-enabled fraud to transnational money laundering. Harnessing data-driven intelligence and global partnerships, we reaffirm our pledge to protect vulnerable communities and disrupt criminal networks, securing a resilient future for all.”
     
    Mr John Cusack, Chair of the GCFFC, thanked the HKMA for bringing leading experts together and said, “We invited leading financial crime fighters from the public, private and third sectors to meet and discuss critical topical and emerging issues under the theme ‘Fighting Financial Crime in a More Complex World’ and we had a lively discussion which helped everyone better understand threats and the best practices and evolving initiatives.”
     
    In a series of panels and breakout sessions, participants shared experience and expertise in maximising opportunities to enhance industry efforts to combat money laundering and financial crime, strengthening protection for customers, and improving the outcomes achieved by the global AML system.
     
    Some of the highlights included:
     

    • a call to action to strengthen efforts to tackle high levels of frauds and scams based on international best practices and the latest developments in the use of technology;
    • the changes banking supervisors have made to AML supervision to improve the outcomes achieved by banks to combat fraud and financial crime;
    • how Hong Kong has been at the forefront of international AML standard setting, in a conversation with Mrs Clarie Lo, former President of the Financial Action Task Force; and
    • how public and private collaboration in the Asia Pacific region is driving a stronger response to fraud and financial crime, for example, the latest development being legislative changes introduced by the HKMA to support information sharing between banks.
               

    MIL OSI Asia Pacific News –

    April 2, 2025

  • MIL-OSI Asia-Pac: Welcome remarks by SDEV at opening ceremony of International Water Pioneers Summit (English only)

    Source: Hong Kong Government special administrative region

    Welcome remarks by SDEV at opening ceremony of International Water Pioneers Summit (English only) 
    Honourable Minister Li Guoying (the Minister of Water Resources), distinguished guests, ladies and gentlemen,
     
    A very warm welcome to all of you to Hong Kong and to this International Water Pioneers Summit. It is my honour to join prestigious water leaders on this significant occasion and to benefit from discussions among experts.
     
    First of all, I would like to take this opportunity to extend my sincere gratitude to the co-organisers, including Hong Kong branch of the Chartered Institution of Water and Environmental Management, the Hong Kong Institution of Engineers and the Hong Kong branch of the Chartered Institute of Plumbing and Heating Engineering. I thank them for their collaboration and generous effort to make the Summit possible. My heartfelt thanks also goes to the Minister of Water Resources of China and his team for their presence in this Summit. Your presence means a lot to us. I also wish to thank all our distinguished speakers and moderators from the Mainland and overseas for accepting our invitations and travelling to Hong Kong to participate in this Summit. We are honoured to welcome an exceptional lineup of speakers and moderators from nine countries across four continents here today. They are distinguished experts and leaders of international water and health organisations and senior government officials. With these renowned leaders sharing their insights, I am sure the upcoming exchanges would be inspiring and rewarding.
     
    From the Hong Kong Palace Museum to the theme of the Summit
     
    Today’s venue, the Hong Kong Palace Museum showcasing the rich tapestry of Chinese art and culture, is a setting particularly fit for the Summit. Water is the essence of life and the cornerstone of human civilisation. It also has symbolic meanings in the Chinese culture. Most of you would have come across the Exhibition of Chinese Water Culture in the foyer before entering this Auditorium. The exhibition explains the origin, symbolism, philosophy and wisdom of water through the lens of Chinese culture. It also reminds us how water has shaped human civilisation, culture and connections.
     
    The supply of Dongjiang water from the Mainland is a showcase of the Chinese water culture. It is not just an engineering achievement to address Hong Kong’s water demand. More importantly, it is a touching demonstration of the core value in Chinese culture, “血濃於水” in Chinese, which means “family connections are inseparable”. The supply of Dongjiang water underscores the deep bonding between our country and Hong Kong as a special administrative region, as well as the unwavering love of our Motherland for Hong Kong. The extended spirit of unity and the sense of mission extending beyond the family to make the world a better place, serves as a guiding principle for us to work together to foster a community of life against the global water challenges.
     
    With the growing impacts of global climate change and increasing pressure on how best we should use the finite resources around the world, the sustainable management of water is no longer optional but imperative. The theme of the Summit, “Smart Water · High-Quality Development”, is undoubtedly very close to our hearts as it captures the urgency and importance of our having to overcome challenges we face nowadays. We need collective responses. We need innovative and actionable solutions. We also need forward-thinking strategies. Today’s Summit comes in time.

    The theme of the Summit – “Smart Water · High-Quality Development”
     
    So how can we achieve “Smart Water · High-Quality Development”? Our morning session will focus on the high-quality development of water supply and technologies in response to global crises, the essential co-ordination of water, economy, and ecology for sustainable growth, and the transformative role of digital technologies and artificial intelligence in enhancing water management.
     
    And we all know that the reliability and safety of water supplies are crucial to public health. So in the afternoon session, our speakers will lead us in delving into crucial strategies and technological advances for developing low-carbon, as well as green urban and rural water systems. We will also touch on recent developments in drinking water safety, and the challenges and opportunities in protecting health through water, adaptability, sanitation, and hygiene (WASH).
     
    The special panel discussion – Belt and Road
     
    The Belt and Road Initiative proposed by President Xi Jinping in 2013 has connected countries, regions and continents through advancing infrastructure development and strengthening collaboration in various aspects. To bolster high-quality co-operation in water management among countries along the Belt and Road, a special panel discussion is arranged in this Summit to showcase successful examples of collaboration and highlight how shared expertise and resources can pave the way for sustainable water management across borders.
     
    Special keynote speeches on the Dongjiang Water Supply
     
    Another highlight of today’s programme is the special keynote session on the Dongjiang water supply to Hong Kong, which is scheduled to take place later in the afternoon. I am sure that the renowned speakers would provide valuable insights on this mega water supply project, the achievement in safeguarding the water quality of the Dongjiang water and a great strive taken over the years in advancing the operation and maintenance through smart technologies.
     
    Ladies and gentlemen, the significance of this Summit lies not only in the exchange of knowledge but also in the spirit of collaboration it fosters. Water is not just a resource, it is a lifeline of the ecosystems, economies and communities to where we belong.
     
    As we embark on today’s discussions, let us remember that the challenges we face can only be solved through collective efforts. I encourage everyone here to actively engage in the discussions. Once again, a warm welcome to all of you and I wish the Summit every success. Thank you.
    Issued at HKT 13:23

    NNNN

    CategoriesMIL-OSI

    MIL OSI Asia Pacific News –

    April 2, 2025

  • MIL-OSI Asia-Pac: Government Cracks Down on Substandard Imports of Goods to Protect Domestic Industry

    Source: Government of India

    Posted On: 01 APR 2025 4:17PM by PIB Delhi

    The Government of India has implemented various measures to curb the import of substandard goods in Indian markets. To protect the domestic industry from the adverse impact of cheaper imports, the Directorate General of Trade Remedies (DGTR), an attached office of Department of Commerce, conducts various investigations (anti-dumping/safeguard (quantitative restrictions)/ countervailing) under the Customs Tariff Act, 1975 and the rules made thereunder on the basis of duly substantiated petition filed by the domestic industry. The Authority at DGTR examines applications filed by the domestic industry and evaluates responses received from importers, exporters and other interested parties in accordance with the provisions of the Customs Tariff Act, 1975. Based on this examination, the DGTR submits its recommendations to the Ministry of Finance for final consideration.

    In the current F.Y. 2024-2025 (upto February, 2025), a total of 206 cases against import of substandard goods violating IPR, BIS and FSSAI norms, valued at Rs.206.62 crore, have been booked by Directorate of Revenue Intelligence and Customs field formations under Customs Act, 1962.

    Directorate of Revenue Intelligence and Customs field formations under CBIC keep constant vigil to check import of substandard goods into India. On the detection of such cases, action is taken in accordance with Customs Act, 1962 & other Allied Acts. Further, the Indian Customs Risk Management System (RMS) implements the policies of risk-based selective examination and testing based on the selectivity criteria of the respective regulatory agency, thereby thwarting the attempts of import of substandard goods.

    Further, Section 25 of Food Safety and Standards Act, 2006 and Food Safety and Standards (Import) Regulations, 2017 regulates the import of food articles into the country. The clearance or No Objection Certificate(NOC) issued by the FSSAI is subject to scrutiny of documents, visual inspection, sampling and testing, in order to determine whether or not they conform to the safety and quality standards.

    In addition to the above, with a view to protect its domestic producers and consumers, India has an elaborate and robust legal framework and institutional set up to protect environment, life and health of its people, plants and animals. Adequate provisions exist under the Foreign Trade 2 Policy to protect the Indian consumers and producers as imported goods are subject to domestic laws, rules, orders, regulations, technical specifications, environmental and safety norms. The BIS standards applicable to domestic goods are also applicable to imported goods. Besides, imports of plant & plant-based products are subject to Plant Quarantine measures and sanitary & phyto-sanitary measures, imports of animal & animal-based products are subject to sanitary import permits and imports of food/edible items are subject to FSSAl standards.

    This information was given by the Minister of State for Ministry of Commerce & Industry, Shri Jitin Prasada, in a written reply in the Lok Sabha today.

    ***

    Abhishek Dayal /Abhijith Narayanan/ Ishita Biswas

    (Release ID: 2117283) Visitor Counter : 16

    MIL OSI Asia Pacific News –

    April 2, 2025

  • MIL-OSI Asia-Pac: Speech by CE at International Water Pioneers Summit (English only)

    Source: Hong Kong Government special administrative region

    Following is the speech by the Chief Executive, Mr John Lee, at International Water Pioneers Summit today (April 1):
     
    Honourable Li Guoying, Minister of Ministry of Water Resources, Honourable Wang Weizhong, Governor of Guangdong Province, Honourable Zheng Yanxiong, Director of the Liaison Office of the Central People’s Government in the Hong Kong Special Administrative Region, Honourable Xiang Bin, Member of the Office Leadership of the Hong Kong and Macao Work Office of the Communist Party of China Central Committee, distinguished guests, ladies and gentlemen,
     
    Good morning. I am pleased to join you today for the opening of the International Water Pioneers Summit. Gathered here are nearly 400 high-profile professionals and senior government officials from Hong Kong, Mainland China, Asia and around the world. Present here to celebrate the 60th anniversary of Dongjiang’s water supply to Hong Kong, and to work together to ensure a sustainable water supply for us all.
     
    Hong Kong’s water story is one of transformation, illustrating how a city with limited water resource, can turn geographic and resource limitations, into engineering triumphs.
     
    Hong Kong’s water story is also one of deep and abiding ties. Because without the strong bonds and blood relation between Hong Kong and the Mainland, the engineering, and the water it made possible, would not have taken place. Certainly not in the 1960s.
     
    As for the engineering, the main challenge was geography. Dongjiang is more than 50 kilometres away from Hong Kong. That meant building an 83-kilometre water channel, crossing half a dozen mountains. The water had to be lifted, via multi-stage pumping stations, from two metres above sea level to 46 metres at the highest point.
     
    And the project was completed in less than one year. At 4pm on the 1st of March 60 years ago, the supply of Dongjiang water to Hong Kong began.
     
    For the past six decades, Dongjiang has provided 70 to 80 per cent of the water needed by Hong Kong.
     
    And the engineering feats continued. Because of our increasing demand for water, the Dongjiang-Shenzhen Water Supply Scheme, as it is presently known, was expanded three times from the 1970s to the 1990s. It was improved again in the early 2000s. These raised Hong Kong’s annual water supply ceiling from the original 68.2 million cubic metres, to today’s 820 million cubic metres, a rise of 12 times.
     
    We are eternally grateful for the enormous commitment, and technical ingenuity, by the country and all our compatriots involved.
     
    We like Dongjiang water. For good reasons. It meets the highest national standard for surface water used for human consumption. No less essential, it continues to flow, fuelling Hong Kong’s economic miracle, supporting our economy and community, while helping to ensure our city’s sustainable development and long-term prosperity.

    The theme of this Summit is “Smart Water, High-Quality Development”. That tells me that if we want to ensure a sustainable water supply, we need to invest in its future, and do it innovatively.
     
    Hong Kong has long been recognised for its infrastructure prowess. Indeed, Hong Kong’s infrastructure was ranked among the top 10, globally, in the World Competitiveness Yearbook last year.
     
    Our major water supply projects include High Island Reservoir, Hong Kong’s largest reservoir, and the Tseung Kwan O Desalination Plant, the first waterworks in Hong Kong to adopt advanced reverse osmosis desalination technology.
     
    As an international centre of innovation and technology, we are keen on applying I&T to water management. Last year, we set up a Digital Water Office to drive the digitalisation of our water supply services.
     
    The Office promotes the use of smart devices, digital twin technology and artificial intelligence, to gradually gain full automation of operations in our waterworks installations.
     
    Innovation in infrastructure development will power our water-secure future. Our goal is to establish Hong Kong as an international infrastructure centre, that serves our city and China, our country.
     
    Speaking of our country, let me add that it has built numerous water conservancy projects. And I’m sure you’ll hear more about them in today’s Summit.
     
    I am grateful to the organisers of today’s International Water Pioneers Summit. Grateful, too, to our distinguished speakers and moderators, here in Hong Kong from all over the world.
     
    While you’re here, I invite you to take full advantage of all that Hong Kong has to offer, in arts and culture. You can start right here, in West Kowloon Cultural District, Hong Kong’s largest arts development.
     
    Ladies and gentlemen, I wish you all a rewarding summit and an enjoyable and memorable stay in Hong Kong.
     
    Thank you.

    MIL OSI Asia Pacific News –

    April 2, 2025

  • MIL-OSI Africa: African Development Bank approves $19.85 million grant for emergency support to the most vulnerable in Sudan’s conflict areas

    Source: Africa Press Organisation – English (2) – Report:

    NAIROBI, Kenya, April 1, 2025/APO Group/ —

    The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved a $19.85 million grant to support emergency humanitarian operations in Sudan, with a strong focus on improving women’s livelihoods and easing the impact of the ongoing conflict on communities and infrastructure.                                                              

    The Crisis Response for Women and Affected Communities in Sudan project takes a gender-responsive approach to urgent humanitarian needs. Since April 2023, armed conflict has devastated critical infrastructure and triggered a humanitarian crisis that has disproportionately impacted women and children the hardest.

    In the short term, the Crisis Response for Women and Affected Communities in Sudan project will train and mobilize frontline workers such as health professionals, midwives, water and sanitation specialists, and market facilitators. The project will also restore five health facilities and four emergency centers in conflict zones, as well as construct and rehabilitate 10 water and energy systems in urban and rural settings.

    The Bank financing also facilitates delivery of emergency food aid, from lentils and sorghum to other staples like tea leaves and sugar. Some 60,000 people will receive farming inputs like fertilizers and seeds this year alone. The project will facilitate cash grants to support livelihoods of another 125,000 people, with a focus on women and their dependents, as well as survivors of gender-based violence.

    Overall, the project will benefit 1.5 million Sudanese, or 265,000 households, of which 65 percent are estimated to be led by women. The Bank categorizes the Crisis Response for Women and Affected Communities in Sudan project “Category 1” on its Gender Marker System, indicating “the principal objective of the project directly addresses gender equality and/or women’s empowerment.”

    “Peace, security and stability are urgently needed for Sudanese communities to reach its full potential,” Dr. Beth Dunford, the Bank’s Vice President for Agriculture, Human and Social Development, said about the project.

    “The Crisis Response for Women and Affected Communities in Sudan project will help restore social services and economic opportunities to some of the country’s most vulnerable communities. The Bank financing will also strategically promote inclusive and resilient economic activities,” she added.

    The Bank’s Transition Support Facility (https://apo-opa.co/3DNnQfy) is financing the project. The Facility, introduced in 2008, provides additional concessional resources to countries facing situations of fragility and conflict.

    The International Committee of the Red Cross, or ICRC, will draw on its deep operational experience and long-standing presence in Sudan to implement the Crisis Response for Women and Affected Communities in Sudan project. The ICRC will work through existing staffing and infrastructure, which include specialists in monitoring and evaluation, environment and safeguards, gender, procurement, and communications.

    This Bank crisis response operation, implemented in collaboration with the ICRC, goes beyond short-term humanitarian interventions to invest in long-term resilience and sustainable development with a focus on women and affected communities. It adopts a humanitarian-development-peace nexus approach which blends urgent humanitarian relief with efforts to lay the foundation for long-term development and peace. While addressing the conflict with a rapid response focused on food security and other livelihood support, the project’s focus remains on early recovery tactics for affected communities and displaced populations.

    To date, an estimated eight million Sudanese have been displaced, and another 1.6 million — mostly women and children — have been forced to flee to neighboring countries. Supporting Sudan’s stabilization requires coordinated efforts of combined immediate relief laying the foundation for long-term development and lasting stability. Policy dialogue will be key to ensuring women’s participation in crisis management.

    MIL OSI Africa –

    April 2, 2025

  • MIL-OSI: Ring Energy Announces the Closing of the Lime Rock Permian Basin Assets Acquisition

    Source: GlobeNewswire (MIL-OSI)

    THE WOODLANDS, Texas, April 01, 2025 (GLOBE NEWSWIRE) — Ring Energy, Inc. (NYSE American: REI) (“Ring” or the “Company”) announced that it has completed its previously-announced acquisition (the “Transaction”) of the Central Basin Platform (“CBP”) assets of Lime Rock Resources IV, LP (“Lime Rock”) on March 31, 2025. Lime Rock’s CBP operations are located in the Permian Basin in Andrews County, Texas, and are focused on the development of approximately 17,700 net acres where the majority are similar to Ring’s existing CBP assets in the Shafter Lake area, and the remaining acreage exposes the Company to new active plays.

    KEY HIGHLIGHTS

    • HIGHLY ACCRETIVE: 2,300 barrels of oil equivalent per day (“Boe/d”) (>80% oil) of low-decline net production from ~101 gross wells driving $34 million of 2025E Adjusted EBITDA1
      • Accretive to key Ring per share financial and operating metrics, and attractively valued at <85% of Proved Developed (“PD”) PV-101,2
    • INCREASED SCALE AND OPERATIONAL SYNERGIES: ~17,700 net acres (100% HBP) mostly contiguous to Ring’s existing footprint
      • Expands legacy CBP footprint with seamless integration and identified cost reduction opportunities
    • MEANINGFUL ADJUSTED FREE CASH FLOW (“AFCF”)1 GENERATION: Supported by $120 million of oil-weighted PD PV-101,2reserves
      • Higher AFCF, shallow decline and reduced reinvestment rate accelerates debt reduction
    • STRENGTHENS HIGH-RETURN INVENTORY PORTFOLIO: >40 gross locations that immediately compete for capital
      • Improves inventory of proven drilling locations with superior economics in active development areas
    • CREATES A STRONGER AND MORE RESILIENT COMPANY
      • Solidifies position as a leading conventional Permian consolidator while strengthening the operational and financial base

    Mr. Paul D. McKinney, Chairman of the Board and Chief Executive Officer, commented, “We are pleased to announce the closing of our acquisition of Lime Rock’s CBP assets in the Permian Basin. The majority of these assets are similar to the conventional-focused CBP assets in our core Shafter Lake operations, which will allow us to quickly integrate the assets into our operations. The acquisition further consolidates assets in core counties in the CBP defined by shallow declines, high margin production and undeveloped inventory that immediately competes for capital, and provide for near-term opportunities for field level synergies and cost savings. As in the past, we will continue to execute our value focused proven strategy that we believe best positions the Company for long-term success.”

    TRANSACTION CONSIDERATION

    After taking into account preliminary purchase price adjustments, consideration for the Transaction consisted of:

    • A cash payment of approximately $63.6 million net of the $5 million deposit payment made in February;
    • $10.0 million deferred cash payment due on or about December 31, 2025; and
    • The issuance of approximately 6.5 million shares of common stock.

    The cash payment at closing was funded with cash on hand and borrowings under Ring’s senior revolving credit facility.

    ADVISORS        

    Greenhill, a Mizuho affiliate, acted as sole financial advisor to Ring in connection with the acquisition and Jones & Keller, P.C. served as legal counsel. Truist Securities served as financial advisor to Lime Rock and Kirkland & Ellis LLP served as legal counsel.

    ABOUT RING ENERGY, INC.

    Ring Energy, Inc. is an oil and gas exploration, development, and production company with current operations focused on the development of its Permian Basin assets. For additional information, please visit www.ringenergy.com.

    NON-GAAP INFORMATION

    Certain financial information utilized by the Company are not measures of financial performance recognized by accounting principles generally accepted in the United States (“GAAP”).

    The Company defines “Adjusted EBITDA” as net income (loss) plus net interest expense (including interest income and expense), unrealized loss (gain) on change in fair value of derivatives, ceiling test impairment, income tax (benefit) expense, depreciation, depletion and amortization, asset retirement obligation accretion, transaction costs for executed acquisitions and divestitures (A&D), share-based compensation, loss (gain) on disposal of assets, and backing out the effect of other income. Company management believes Adjusted EBITDA is relevant and useful because it helps investors understand Ring’s operating performance and makes it easier to compare its results with those of other companies that have different financing, capital, and tax structures. Adjusted EBITDA should not be considered in isolation from or as a substitute for net income, as an indication of operating performance or cash flows from operating activities or as a measure of liquidity. Adjusted EBITDA, as Ring calculates it, may not be comparable to Adjusted EBITDA measures reported by other companies. In addition, Adjusted EBITDA does not represent funds available for discretionary use. The Company cannot provide a reconciliation of 2025E Adjusted EBITDA without unreasonable efforts because it is unable to predict with reasonable certainty the ultimate outcome of certain significant items required for reconciliation. These items are uncertain, depend on various factors and could have a material impact on GAAP reported results.

    The Company defines “Adjusted Free Cash Flow” or “AFCF” as Net Cash Provided by Operating Activities less changes in operating assets and liabilities (as reflected on our Condensed Statement of Cash Flows), plus transaction costs for executed acquisitions and divestitures (A&D), current income tax expense (benefit), proceeds from divestitures of equipment for oil and natural gas properties, loss (gain) on disposal of assets, and less capital expenditures, bad debt expense, and other income. For this purpose, our definition of capital expenditures includes costs incurred related to oil and natural gas properties (such as drilling and infrastructure costs and lease maintenance costs) but excludes acquisition costs of oil and gas properties from third parties that are not included in our capital expenditures guidance provided to investors. Our management believes that Adjusted Free Cash Flow is an important financial performance measure for use in evaluating the performance and efficiency of our current operating activities after the impact of capital expenditures and net interest expense (including interest income and expense, excluding amortization of deferred financing costs) and without being impacted by items such as changes associated with working capital, which can vary substantially from one period to another. Other companies may use different definitions of Adjusted Free Cash Flow.

    PV-10 is a non-GAAP financial measure that differs from a financial measure under GAAP known as “standardized measure of discounted future net cash flows” in that PV-10 is calculated without including future income taxes. The Company believes the presentation of PV-10 provides useful information because it is widely used by investors in evaluating oil and natural gas companies without regard to specific income tax characteristics of such entities. PV-10 is not intended to represent the current market value of the Company’s estimated proved reserves. PV-10 should not be considered in isolation or as a substitute for the standardized measure as defined under GAAP. The Company also presents PV-10 at strip pricing, which is PV-10 adjusted for price sensitivities. Since GAAP does not prescribe a comparable GAAP measure for PV-10 of reserves adjusted for pricing sensitivities, it is not practicable for the Company to reconcile PV-10 at strip pricing to a standardized measure or any other GAAP measure.

    SAFE HARBOR STATEMENT

    This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements involve a wide variety of risks and uncertainties, and include, without limitation, statements with respect to the Company’s strategy and prospects. The forward-looking statements include statements about the expected benefits to the Company and its shareholders from the Transaction; the Company’s future reserves, production, financial position, business strategy, revenues, earnings, costs, capital expenditures and debt levels of the Company, and plans and objectives of management for future operations. Forward-looking statements are based on current expectations and subject to numerous assumptions and analyses made by Ring and its management considering their experience and perception of historical trends, current conditions and expected future developments, as well as other factors appropriate under the circumstances. However, whether actual results and developments will conform to expectations is subject to a number of material risks and uncertainties, including but not limited to: the Company’s ability to successfully integrate the oil and gas properties to be acquired in the Transaction and achieve the anticipated benefits from them; risks relating to unforeseen liabilities of Ring or the assets acquired in the Transaction; declines in oil, natural gas liquids or natural gas prices; the level of success in exploration, development and production activities; adverse weather conditions that may negatively impact development or production activities particularly in the winter; the timing of exploration and development expenditures; inaccuracies of reserve estimates or assumptions underlying them; revisions to reserve estimates as a result of changes in commodity prices; impacts to financial statements as a result of impairment write-downs; risks related to the level of indebtedness and periodic redeterminations of the borrowing base and interest rates under the Company’s credit facility; Ring’s ability to generate sufficient cash flows from operations to meet the internally funded portion of its capital expenditures budget; the impacts of hedging on results of operations; the effects of future regulatory or legislative actions; cost and availability of transportation and storage capacity as a result of oversupply, government regulation or other factors; and Ring’s ability to replace oil and natural gas reserves. Such statements are subject to certain risks and uncertainties which are disclosed in the Company’s reports filed with the Securities and Exchange Commission (“SEC”), including its Form 10-K for the fiscal year ended December 31, 2024, and its other SEC filings. Ring undertakes no obligation to revise or update publicly any forward-looking statements, except as required by law.

    CONTACT INFORMATION

    Al Petrie Advisors

    Al Petrie, Senior Partner

    Phone: 281-975-2146

    Email: apetrie@ringenergy.com

    FOOTNOTES

    1. Represents a non-GAAP financial measure that should not be considered a substitute for any GAAP measure. See section in this release titled “Non-GAAP Information” for a more detailed discussion.
    2. Proved reserves determined by internal management estimates based on NYMEX strip pricing as of February 19, 2025.

    The MIL Network –

    April 2, 2025
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