Category: Business

MIL-OSI Australia: Appointments to the Tax Practitioners Board
Source: Australian Treasurer

The Albanese Government is committed to ensuring the Tax Practitioners Board (TPB) has the expertise to effectively regulate tax practitioners and uphold professional and ethical standards.

The Government has made the following reappointments and appointments of part‑time members of the TPB:
- Reappointed Mr Steven Dobson for a one‑year period
- Reappointed Ms Debra Anderson for a two‑year period
- Appointed Ms Joanna Bird, Ms Amanda Gascoigne and Ms Merran Kelsall AO each for a three‑year period
These appointments bring a diverse range of skills and experience to support the TPB’s critical role in maintaining public trust in the tax profession.

Ms Anderson has been a member of the TPB since 18 February 2019. She is an experienced tax agent and former Business Activity Statement (BAS) agent who has operated a tax advisory business for approximately 20 years.

Mr Dobson has been a member of the TPB since 30 March 2022. He works in an associated industry to tax practitioners where he has operated a financial advisory business for over 20 years. He has experience on various Western Australian Government boards.

Ms Bird is an experienced financial services regulator, lawyer and academic. She was a senior executive at ASIC for 10 years. Currently she is a self‑employed consultant providing advice on financial market and services regulation. Ms Bird is also an Adjunct Professor in law at the University of New South Wales and Monash University.

Ms Gascoigne is an experienced tax agent, governance professional, and educator. She founded and operated a regional accounting firm for 18 years, providing tax and advisory services to small businesses. She is also actively involved in mentoring and supporting accountants in professional development.

Ms Kelsall is an experienced governance professional, CEO and academic. She was the Chair and CEO of the Auditing and Assurance Standards Board; a member of the International Auditing and Assurance Standards Board; a partner at BDO; and Professor of Practice at the University of New South Wales Business School. Currently Ms Kelsall is on various boards.

The TPB is the national body responsible for the registration and regulation of tax practitioners. Its work supports public trust and confidence in the integrity of the tax profession by ensuring that tax agent services are provided to the community in accordance with appropriate standards of professional and ethical conduct.

MIL OSI News –
March 19, 2025
MIL-OSI Economics: Speech by Dr. Akinwumi A. Adesina, President and Chairman of the Boards of Directors African Development Bank Group, at the High-Level Conference on…

Source: African Development Bank Group

[PROTOCOLS]

Your Excellencies,

Honourable Ministers,

Distinguished delegates,

Ladies and Gentlemen,

Good morning.

I am delighted to join you all today at this high-level conference, focusing on smallholder farmers.

On behalf of the African Development Bank Group, I wish to convey our profound gratitude to our host, His Excellency President William Ruto, his government and the people of Kenya for their generous support for hosting this High-Level Conference in Nairobi.

I would have joined you for the sessions at this high-level conference yesterday, but I had a very important engagement at the State House, Kenya. It was such a great honour, yesterday for His Excellency President William Ruto to confer on me the Chief of the Order of the Golden Heart (C.G.H), Kenya’s highest national honour and distinction.

I wish to express my deepest gratitude once again to President Ruto for this exceptional honour, given only to 19 Heads of State and Government and global leaders since 1963.

I am especially delighted that the conferment of this honour was given the same day that farmers and agribusinesses of Africa are gathered right here at the High-level conference on ‘Scaling Financing for Smallholder Farmers”.

As you know, I am a great supporter of African farmers and agribusinesses. So, I wish to ask that you all join me in thanking President Ruto for this great honour.

Your Excellencies, ladies and gentlemen,

I wish to commend our partners, the Pan African Farmers’ Organization (PAFO) and all the partner organizations that have worked tirelessly with our teams from the African Development Bank to organize this high-level conference.

We meet here in Nairobi to reposition and expand opportunities for Africa’s smallholder farmers who contribute over 80% of the continent’s food production.

I will be speaking to you today on: “Progress Since Dakar 2 Feed Africa Summit: a portrait of success in building coalitions for supporting smallholder farmers to transform African economies”.

Your Excellencies, ladies and gentlemen,

Africa will be the epicentre of feeding the world, since 65% of the uncultivated arable land left in the world is in Africa. Therefore, what Africa does with its agriculture will determine the future of food in the world.

It is with this goal of unleashing the potential of Africa to feed itself, and to do so with pride, that the African Development Bank, in partnership with the Government of Senegal and the African Union, organized the Feed Africa Summit (or Dakar 2) in 2023.

The theme of the Summit was on Achieving Food Sovereignty and Resilience. Attended by 34 heads of state and government, Dakar 2 showed the political commitment of governments towards ensuring food security and food sovereignty in Africa.

Many of you were there!

At the heart of Dakar 2 were 41 Presidential Boardrooms that launched Country Food and Agriculture Delivery Compacts outlining national production targets, enabling policies, smallholder farmers’ support, rural infrastructure development, and innovative financing solutions.

Dakar 2 gave us a renewed sense of purpose and marked a turning point in Africa’s pursuit of food security through the power of partnerships and cooperation.

Dakar 2 showed us the power of partnerships. At the Dakar 2 Feed Africa Summit, development partners committed $30 billion to support the Compacts, with the African Development Bank Group pledging $10 billion.

In less than a year after the Dakar 2 Feed Africa summit, financial commitments from development partners from around the world increased to $72 billion.

This is unprecedented in the history of agriculture in Africa.

Since then, the African Development Bank has made tremendous progress in our combined continental quest to Feed Africa, approving 77 operations valued at $3.9 billion to support the implementation of Compacts in 32 countries.

This year, the African Development Bank plans to approve an additional $1.72 billion in project investments and policy-based operations.

Central to the Compacts is the Bank’s flagship initiative, the Technologies for African Agricultural Transformation (TAAT) which aims to double food production by providing proven technologies to more than 40 million smallholder farmers by 2025.

The TAAT platform has delivered heat-tolerant wheat varieties, drought-tolerant maize varieties, and high-yield rice varieties, as well as capacity building, training and other related services to 25 million farmers across the continent.

Our efforts with partners have increased Africa’s crop production by an estimated 120 million tonnes of additional food. A total of $1.7 billion in investments has been influenced by TAAT’s climate-smart technologies – and about 247 million Africans have better nutrition today, due to TAAT.

TAAT is also a key driver of the African Development Bank’s $1.5 billion African Emergency Food Production Facility approved in 2022 to avert a looming food crisis following global geopolitical tensions. The facility is a continental initiative to support 20 million smallholder farmers in 35 countries to access certified seeds and fertilizer to produce 38 million metric tons of food.

As of December 2024, the African Emergency Food Production Facility had delivered 459,000 tons of seed, distributed 2.8 million tonnes of fertilizer to 12.3 million farmers. It has supported the production of 37.6 million metric tons of additional food in Africa. are on course to meeting and even surpassing the target we set just about two years ago.

Excellencies, ladies and gentlemen,

We are working hard to connect farmers to market off-takers, and to accelerate the processing and value addition to food and agricultural commodities. We are doing this through the development and roll out of Special Agro-Industrial Processing Zones.

The African Development Bank has committed $934.51 million to the Special Agro-Industrial Processing Zones, which has been matched with co-financing from our partners amounting to $938.27 million. Currently, we have 27 ongoing Special Agro-Industrial Processing Zones projects across 11 countries.

However, despite lots of progress being made, one area that continues to remain a challenge for farmers, especially smallholder farmers, and small and medium sized agribusinesses, is lack of access to finance.

There exists an annual financing deficit of $75 billion for farmers and small and medium enterprises. Data from 35 lenders found a perception of higher risks and lower returns by commercial banks to lending to agriculture-linked small and medium enterprises.

Therefore, we must find efficient ways to “de-risk” lending to farmers and small and medium enterprises. This can be achieved by absorbing incremental risk and thereby increasing lenders’ risk appetite and by leveraging outside private sector finance into the agricultural sector.

The three major investment channels deployed effectively by the African Development Bank in addressing these challenges include: (1) the Affirmative Finance Action for Women in Africa (AFAWA), (2) the African Fertilizer Financing Mechanism, and (3) the Inputs Supplier Risk Sharing Program.

First: as of February 2025, the Affirmative Finance Action for Women in Africa program had approved $2.52 billion in financing for over 24,000 of Africa’s women-led businesses. This has been achieved through partnerships with the Africa Guarantee Fund which now works with over 185 financial institutions across 44 African countries.

Second: The African Fertilizer Financing Mechanism has implemented trade credit guarantee projects in 8 countries, including Tanzania, Nigeria, Ghana, Côte d’Ivoire, Zimbabwe, Kenya, Uganda and Mozambique. The $17.1 million trade credit guarantee was leveraged by 4.7 times, including 13 times leverage in Tanzania. It has enabled the distribution of 125,193 metric tons of fertilizer worth $62.8 million, which benefited 776,971 smallholder farmers during the 2019–2024 seasons. These projects also facilitated access to finance for over 126 hub agro-based enterprises involved in fertilizer distribution, with women beneficiaries representing 36% of the African Fertilizer Financing Mechanism projects.

And the third channel is the African Development Bank’s new $600 million Inputs Supplier Risk Sharing Program. This is to support the development of more robust agricultural inputs market systems through de-risking of the inputs supply ecosystem. This is focusing on Uganda, Kenya, Tanzania, Ghana and Zambia. Initially this will be undertaken through the deployment of a risk sharing mechanism, backed by the Bank’s Partial Credit Guarantee instrument, to attract private sector, and donor resources for the development of a sustainable agricultural-inputs market system.

Your Excellencies, ladies and gentlemen,

In addition, the African Development Bank is working with Mastercard and other partners on developing the “Mobilizing Access to the Digital Economy,” or the MADE Alliance Africa. The Bank’s first phase commitment includes $300 million to the MADE Alliance Africa’s initial five years of programming. By doing so, the African Development Bank aims to bring 3 million farmers in Kenya, Tanzania and Nigeria into the digital economy.

I am pleased to inform you that we will be consulting with our Board of Directors of the African Development Bank to establish a $500 million facility to unlock $10 billion of financing for smallholder farmers, as well as small and medium sized agribusiness enterprises.

This will include the use of trade credit guarantees, first loss coverage, blended finance, and origination incentives that defray the high transaction costs of serving enterprises, as well as technical assistance.

Your Excellencies, ladies and gentlemen,

From Dakar 2 Feed Africa summit to Nairobi ‘Scaling up finance for farmers” conference today, we stand on the threshold of making history by pushing the boundaries of innovation and building extensive collaborative alliances to accelerate action towards bridging the financing gap facing smallholder farmers and small and medium sized agribusinesses.

The African Development Bank remains fully committed to collaborating with the Pan African Farmers’ Organization and its subsidiary farmers’ organizations, as well as development partners and financial institutions, to fully unlock financing for smallholder farmers and small and medium sized agribusiness enterprises.

Together, let us expand access to finance at scale for farmers and small and medium sized agribusinesses.

Together, let us provide strong policy support for farmers.

Africa must never abandon its farmers.

Together, let us unleash the potential of agriculture in Africa.

Let us make Africa the breadbasket of the world.

And together, let us feed Africa, with pride!

Thank you very much.

MIL OSI Economics –

March 19, 2025
MIL-OSI Economics: Global and African Financial Experts Urge Action to Enhance Smallholder Farmer Financing

Source: African Development Bank Group

Leading global and African financial experts have issued a resounding call to align financial structures with the needs of smallholder farmers.

Speaking at a two-day conference on financing Africa’s smallholder farmers in Nairobi, Kenya, the experts underscored the crucial role of government intervention in creating an enabling environment for financial institutions to expand agricultural lending.

The conference represents a pivotal step in mobilizing the billions needed annually to support Africa’s smallholder farmers, who make up some 80% of the continent’s farming population but control less than 5% of agricultural land.

African Development Bank Group President Dr. Akinwumi Adesina delivered the keynote address, highlighting a glaring disconnect: while agriculture contributes 30% to Africa’s GDP, it accounts for only 6% of commercial bank lending.

“Smallholder farmers around the world are the same, except those from Africa face difficult odds — poor access to markets, finance, information, infrastructure, and inputs—none of which we can’t address collectively,” Adesina said.

A key highlight of Tuesday’s session was a panel discussion featuring Alice Albright, former CEO of the Millennium Challenge Corporation (MCC); Brian Milder, Founder and CEO of Aceli Africa; and Jules Ngankam, Group CEO of the African Guarantee Fund. Moderated by former international broadcaster Yvonne Ndege, the panel explored practical designs for sustainable financing mechanisms to bridge the financing gap in agriculture.

Panelists identified several critical barriers to adequate financing. These include risk misperceptions in agricultural lending, high transaction costs for rural financial services, mismatches between standard loan products and agricultural business cycles, lack of formal financial records and collateral, and inequitable value chain structures that limit farmer profitability.

Milder shared a success story from Tanzania, where targeted interventions enabled Tanzania Commercial Bank to increase its agricultural lending share from 2% to much higher levels while simultaneously quadrupling rural bank deposits.

He also highlighted the stark contrast between the 14% yield on Kenyan government bonds and the mere 3% average return on agricultural SME lending, illustrating the urgent need for solutions that make agricultural finance more attractive to investors.

“Capital is like water—it runs downhill,” Milder noted. “We need solutions that consider the full profitability equation, including transaction costs, risk, and capital costs for financial intermediaries.”

Albright drew on her experience developing the International Finance Facility for Immunization, which has raised $9.7 billion, to emphasize the need to clearly define financing challenges, assess risks, and build political will among governments.

“We must articulate the public policy rationale for financing smallholder farmers and address key design challenges, including risk management and cost efficiency,” Albright stated. “With political will, innovative financial instruments, and strategic partnerships, we can establish a robust financing ecosystem that ensures capital flows where it is needed most.”

Ngankam provided insights into how risk mitigation strategies could unlock financing for smallholder farmers. He emphasized the necessity of financial products tailored to different agricultural value chains.

MIL OSI Economics –

March 19, 2025
MIL-OSI Economics: African Development Bank and Germany Sign €18.4 million financing agreement in support of NEPAD-IPPF to boost infrastructure project preparation in…

Source: African Development Bank Group

The African Development Bank and Kreditanstalt für Wiederaufbau (KfW), the German state-owned investment and development bank, have signed an agreement for a contribution of €18.4 million to the NEPAD – Infrastructure Project Preparation Facility (NEPAD-IPPF) Special Fund.

The funding, which brings KfW’s contribution to NEPAD-IPPF to $58.14 million, will support the facility’s drive to achieve its key priorities including the second Priority Action Plan under the Programme for Infrastructure Development in Africa (PIDA PAP2) through 2030. The New Partnership for Africa’s Development Infrastructure Project Preparation Facility (NEPAD-IPPF), a multi-donor Special Fund, hosted by the African Development Bank, is a leading project preparation facility in Africa, which plays a catalytic role in providing technical and financial assistance for the preparation of regional infrastructure projects and programs.

The agreement was signed in Abidjan, Côte d’Ivoire, by Christoph Tiskens, KfW’s Director for Eastern Africa and the African Union, and Mike Salawou, African Development Bank Director for Infrastructure and Urban Development. The signing of the agreement follows the German government’s 2024 announcement of the replenishment.

Tiskens commended the achievements of NEPAD-IPPF. He said, “The NEPAD-IPPF Special Fund has had remarkable success throughout the year, demonstrating significant progress in advancing regional infrastructure development in Africa. This replenishment aims to support infrastructure development with a focus on areas such as climate change, gender, Agenda 2063, the African Continental Free Trade Area (AfCFTA), and a stronger focus on attaining the Sustainable Development Goals.” He affirmed the German Government’s commitment to its partnership with the African Development Bank.

Salawou said: “This replenishment marks a significant milestone in our long-standing partnership with Germany to advance infrastructure development and financing in Africa. With this support, NEPAD-IPPF will be better capitalized to scale up and speed up the preparation of transformational cross-border and climate-smart infrastructure projects, ensuring they are bankable and investment ready,”

He added: “This is an important step in accelerating implementation of the African Continental Free Trade Area (AfCFTA), regional integration, and economic growth. The Bank therefore values this partnership and will continue to strengthen it.”

MIL OSI Economics –

March 19, 2025
MIL-OSI United Kingdom: Multimillion-pound investment gives rocket boost to South West space sector
Source: United Kingdom – Executive Government & Departments

Press release

Multimillion-pound investment gives rocket boost to South West space sector

Minister Jones has announced a multimillion-pound investment in Bristol’s space sector from leading German space company OHB.
New multimillion-pound investment from leading German space company OHB to support Plan for Change by creating specialist jobs in Bristol.

OHB’s UK expansion sees job-boosting new subsidiary at Bristol & Bath Science Park to develop cutting-edge satellite and spacecraft tech.

Industry Minister Sarah Jones announces investment in keynote speech at opening of Farnborough International Space Show.

The South West will benefit from a multimillion-pound investment from leading German space company OHB, creating up to 50 specialist jobs in Bristol working on satellites and exploration spacecraft, and supporting the government’s Plan for Change in delivering more skilled jobs, higher living standards, and productivity growth in every part of the United Kingdom.

Industry Minister Sarah Jones will announce the investment in a speech to the Farnborough International Space Show today [19 March], welcoming the news as a major win for the South West’s world-leading aerospace cluster, and the latest vote of confidence in the UK’s investment environment.

The Farnborough International Space Show, supported by ADS – the trade association for the UK’s aerospace, defence, security and space sectors – will be a significant event for the space industry, with 50 different countries exhibiting and many high-value commercial deals expected to be signed.

OHB’s initial multimillion-pound investment will create a new UK subsidiary based at Bristol and Bath Science Park to develop cutting-edge tech for satellites and spacecraft, and was secured by the Department for Business and Trade working together with the Space West cluster, Invest Bristol & Bath and the UK Space Agency.

Industry Minister Sarah Jones is expected to say:

The UK is open for business, and today’s investment from OHB is a major win for Bristol’s world-leading aerospace and tech industry which will create high-skilled local jobs and ensure the UK remains a partner of choice for space agencies around the world.

This is the latest vote of confidence in our Industrial Strategy, which will give our space sector the certainty it needs to stay at the cutting edge of global innovation, driving growth and good jobs across the UK and showing our Plan for Change is working.

The British space sector generates £18.9 billion each year, supporting over 50,000 jobs, and will be a top priority in the Government’s Industrial Strategy, which has identified advanced manufacturing and digital & technologies as key growth-driving sectors.

The UK’s space workforce is also highly qualified and more than twice as productive (2.3x) as the average UK worker, while the global space market is expected to be worth over £1 trillion by 2035, according to the latest figures from global management consultancy McKinsey.

OHB CEO Marco Fuchs said:

I am truly glad that we have finally established a presence in one of Europe’s key space markets. The Bristol region, with its high-tech cluster, provides a great environment for OHB to develop innovative and competitive space products and systems from the UK for the national and European markets.

West of England Mayor Dan Norris said:

Today’s announcement means more high skilled jobs for local people – and that’s fantastic news. OHB SE setting up shop in the West of England is a big win for our region and a real rocket boost for our space industry.

I’m really proud that they’ve chosen the Bristol & Bath Science Park as their UK base. We’re proving once again that this is the place to be for world-class innovation, job creation, and serious economic growth.

Kevin Craven, CEO of ADS welcomed the announcement:

The UK space sector – a jewel in the UK’s advanced manufacturing crown – has seen impressive growth in recent years. The space economy in the UK spans a wide range of capabilities employing around 50,000 people, with strengths in small satellite technology, sustainability, and emerging areas such as in-space manufacturing, artificial intelligence, and quantum computing.

Representing more than 500 businesses operating in space, ADS wholeheartedly welcomes the ongoing commitment to developing our sector throughout the country. Space will secure the UK’s domestic, future and technological advantage!

Background:

For further details on OHB and their UK investment, please contact the company directly at timo.stuffler@ohb.de.

See McKinsey’s full research report on the projected value of the global space economy here: https://www.mckinsey.com/featured-insights/themes/the-space-economy-is-projected-to-reach-1-8-trillion-by-2035.

Share this page

The following links open in a new tab

Share on Facebook (opens in new tab)

Share on Twitter (opens in new tab)

Updates to this page

Published 19 March 2025
MIL OSI United Kingdom –
March 19, 2025

MIL-OSI: Purpose Investments Inc. Announces March 2025 Distributions

Source: GlobeNewswire (MIL-OSI)

TORONTO, March 18, 2025 (GLOBE NEWSWIRE) — Purpose Investments Inc. (“Purpose”) is pleased to announce distributions for the month of March 2025 for its open-end exchange-traded funds and closed-end funds (“the Funds”).

The ex-distribution date for all Open-End Funds is March 27, 2025. The ex-distribution date for all closed-end funds is March 31, 2025.

Open-End Funds	Ticker Symbol	Distribution per share/unit	Record Date	Payable Date	Distribution Frequency
Apple (AAPL) Yield Shares Purpose ETF – ETF Units	APLY	$0.1667	03/27/2025	04/02/2025	Monthly
Purpose Canadian Financial Income Fund – ETF Series	BNC	$0.1225¹	03/27/2025	04/02/2025	Monthly
Purpose Global Bond Fund – ETF Units	BND	$0.0840	03/27/2025	04/02/2025	Monthly
Berkshire Hathaway (BRK) Yield Shares Purpose ETF – ETF Units	BRKY	$0.1000	03/27/2025	04/02/2025	Monthly
Purpose Bitcoin Yield ETF – ETF Units	BTCY	$0.0850	03/27/2025	04/02/2025	Monthly
Purpose Bitcoin Yield ETF – ETF Non-Currency Hedged Units	BTCY.B	$0.0970	03/27/2025	04/02/2025	Monthly
Purpose Bitcoin Yield ETF – ETF USD Units	BTCY.U	US $0.0815	03/27/2025	04/02/2025	Monthly
Purpose Credit Opportunities Fund – ETF Units	CROP	$0.0875	03/27/2025	04/02/2025	Monthly
Purpose Credit Opportunities Fund – ETF USD Units	CROP.U	US $0.0975	03/27/2025	04/02/2025	Monthly
Purpose Ether Yield – ETF Units	ETHY	$0.0405	03/27/2025	04/02/2025	Monthly
Purpose Ether Yield ETF – ETF Non-Currency Hedged Units	ETHY.B	$0.0500	03/27/2025	04/02/2025	Monthly
Purpose Ether Yield ETF – ETF Units Non-Currency Hedged USD Units	ETHY.U	US $0.0395	03/27/2025	04/02/2025	Monthly
Purpose Global Flexible Credit Fund – ETF Units	FLX	$0.0461	03/27/2025	04/02/2025	Monthly
Purpose Global Flexible Credit Fund – Non-Currency Hedged – ETF Units	FLX.B	$0.0551	03/27/2025	04/02/2025	Monthly
Purpose Global Flexible Credit Fund – Non-Currency Hedged USD – ETF Units	FLX.U	US $0.0385	03/27/2025	04/02/2025	Monthly
Purpose Global Bond Class – ETF Units	IGB	$0.0860¹	03/27/2025	04/02/2025	Monthly
Microsoft (MSFT) Yield Shares Purpose ETF – ETF units	MSFY	$0.1100	03/27/2025	04/02/2025	Monthly
Purpose Active Balanced Fund – ETF Units	PABF	$0.1650	03/27/2025	04/02/2025	Quarterly
Purpose Active Conservative Fund – ETF Units	PACF	$0.1900	03/27/2025	04/02/2025	Quarterly
Purpose Active Growth Fund – ETF Units	PAGF	$0.1550	03/27/2025	04/02/2025	Quarterly
Purpose Enhanced Premium Yield Fund – ETF Series	PAYF	$0.1375¹	03/27/2025	04/02/2025	Monthly
Purpose Total Return Bond Fund – ETF Series	PBD	$0.0590¹	03/27/2025	04/02/2025	Monthly
Purpose Core Dividend Fund – ETF Series	PDF	$0.1050¹	03/27/2025	04/02/2025	Monthly
Purpose Enhanced Dividend Fund – ETF Series	PDIV	$0.0950¹	03/27/2025	04/02/2025	Monthly
Purpose Real Estate Income Fund – ETF Series	PHR	$0.0720¹	03/27/2025	04/02/2025	Monthly
Purpose International Tactical Hedged Equity Fund – ETF Series	PHW	$0.1500	03/27/2025	04/02/2025	Quarterly
Purpose International Dividend Fund – ETF Series	PID	$0.0780	03/27/2025	04/02/2025	Monthly
Purpose Monthly Income Fund – ETF Series	PIN	$0.0830¹	03/27/2025	04/02/2025	Monthly
Purpose Multi-Asset Income Fund – ETF Units	PINC	$0.0840	03/27/2025	04/02/2025	Monthly
Purpose Diversified Real Asset Fund – ETF Series	PRA	$0.2100	03/27/2025	04/02/2025	Quarterly
Purpose Conservative Income Fund – ETF Series	PRP	$0.0600¹	03/27/2025	04/02/2025	Monthly
Purpose Premium Yield Fund – ETF Series	PYF	$0.1100¹	03/27/2025	04/02/2025	Monthly
Purpose Premium Yield Fund Non-Currency Hedged – ETF Series	PYF.B	$0.1230¹	03/27/2025	04/02/2025	Monthly
Purpose Premium Yield Fund Non-Currency Hedged – ETF USD Series	PYF.U	US $0.1200¹	03/27/2025	04/02/2025	Monthly
Purpose Core Equity Income Fund – ETF Series	RDE	$0.0875¹	03/27/2025	04/02/2025	Monthly
Purpose Emerging Markets Dividend Fund – ETF Units	REM	$0.0950	03/27/2025	04/02/2025	Monthly
Purpose Canadian Preferred Share Fund – ETF Units	RPS	$0.0950	03/27/2025	04/02/2025	Monthly
Purpose US Preferred Share Fund – ETF Series	RPU	$0.0940	03/27/2025	04/02/2025	Monthly
Purpose US Preferred Share Fund Non-Currency Hedged – ETF Units²	RPU.B / RPU.U	$0.0940	03/27/2025	04/02/2025	Monthly
Purpose Strategic Yield Fund – ETF Units	SYLD	$0.0970	03/27/2025	04/02/2025	Monthly
AMD (AMD) Yield Shares Purpose ETF – ETF Series	YAMD	$0.2000¹	03/27/2025	04/02/2025	Monthly
Amazon (AMZN) Yield Shares Purpose ETF- ETF Units	YAMZ	$0.4000	03/27/2025	04/02/2025	Monthly
Alphabet (GOOGL) Yield Shares Purpose ETF – ETF Units	YGOG	$0.2500	03/27/2025	04/02/2025	Monthly
META (META) Yield Shares Purpose ETF – ETF Series	YMET	$0.1600¹	03/27/2025	04/02/2025	Monthly
NVIDIA (NVDA) Yield Shares Purpose ETF – ETF Units	YNVD	$0.7500	03/27/2025	04/02/2025	Monthly
Tesla (TSLA) Yield Shares Purpose ETF – ETF Units	YTSL	$0.5500	03/27/2025	04/02/2025	Monthly
Costco (COST) Yield Shares Purpose ETF – ETF Series	YCST	$0.1000¹	03/27/2025	04/02/2025	Monthly
Palantir (PLTR) Yield Shares Purpose ETF – ETF Series	YPLT	$0.2500¹	03/27/2025	04/02/2025	Monthly
UnitedHealth Group (UHN) Yield Shares Purpose ETF – ETF Series	YUNH	$0.1100¹	03/27/2025	04/02/2025	Monthly
Coinbase (COIN) Yield Shares Purpose ETF – ETF Series	YCON	$0.3000¹	03/27/2025	04/02/2025	Monthly
Netflix (NFLX) Yield Shares Purpose ETF – ETF Series	YNET	$0.1100¹	03/27/2025	04/02/2025	Monthly
Broadcom (AVGO) Yield Shares Purpose ETF – ETF Series	YAVG	$0.1500¹	03/27/2025	04/02/2025	Monthly
Tech Innovators Yield Shares Purpose ETF – ETF Series	YMAG	$0.2000¹	03/27/2025	04/02/2025	Monthly

Closed-End Funds	Ticker Symbol	Distribution per share/unit	Record Date	Payable Date	Distribution Frequency
Big Banc Split Corp, Class A	BNK	$0.1200¹	03/31/2025	04/14/2025	Monthly
Big Banc Split Corp, Class A	BNK.PR.A	$0.0700¹	03/31/2025	04/14/2025	Monthly

Estimated March 2025 Distributions for Purpose USD Cash Management Fund, Purpose Cash Management Fund, Purpose High Interest Savings Fund, and Purpose US Cash Fund

The March 2025 distribution rates for Purpose USD Cash Management Fund, Purpose Cash Management Fund, Purpose High Interest Savings Fund, and Purpose US Cash Fund are estimated to be as follows:

Fund Name	Ticker Symbol	Estimated Distribution per unit	Record Date	Payable Date	Distribution Frequency
Purpose USD Cash Management Fund – ETF Units	MNU.U	US $0.3440	03/27/2025	04/02/2025	Monthly
Purpose Cash Management Fund – ETF Units	MNY	$0.2657	03/27/2025	04/02/2025	Monthly
Purpose High Interest Savings Fund – ETF Units	PSA	$0.1105	03/27/2025	04/02/2025	Monthly
Purpose US Cash Fund – ETF Units	PSU.U	US $0.3374	03/27/2025	04/02/2025	Monthly

Purpose expects to issue a press release on or about March 26, 2025, which will provide the final distribution rate for Purpose USD Cash Management Fund, Purpose Cash Management Fund, Purpose High Interest Savings Fund, and Purpose US Cash Fund. The ex-distribution date will be March 27, 2025.

(1) Dividend is designated as an “eligible” Canadian dividend for purposes of the Income Tax Act (Canada) and any similar provincial and territorial legislation.
(2) Purpose US Preferred Share Fund Non-Currency Hedged – ETF Units have both a CAD and USD purchase option. Distribution per unit is declared in CAD; however, the USD purchase option (RPU.U) distribution will be made in the USD equivalent. Conversion into USD will use the end-of-day foreign exchange rate prevailing on the ex-distribution date.

About Purpose Investments Inc.

Purpose Investments is an asset management company with more than $22 billion in assets under management. Purpose Investments has an unrelenting focus on client-centric innovation and offers a range of managed and quantitative investment products. Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Unlimited, an independent technology-driven financial services company.

For further information, please email us at info@purposeinvest.com

Media inquiries:
Keera Hart
keera.hart@kaiserpartners.com
905-580-1257

Commissions, trailing commissions, management fees, and expenses may all be associated with investment fund investments. Please read the prospectus and other disclosure documents before investing. Investment funds are not covered by the Canada Deposit Insurance Corporation or any other government deposit insurer. There can be no assurance that the full amount of your investment in a fund will be returned to you. If the securities are purchased or sold on a stock exchange, you may pay more or receive less than the current net asset value. Investment funds are not guaranteed; their values change frequently, and past performance may not be repeated.

The MIL Network –

March 19, 2025

MIL-OSI: Quick Custom Intelligence Launches Advanced Real-Time Host Management Features

Source: GlobeNewswire (MIL-OSI)

SAN DIEGO, March 18, 2025 (GLOBE NEWSWIRE) — Quick Custom Intelligence (QCI), the premier provider of real-time analytics and customer engagement solutions for the gaming and hospitality industries, today announced the launch of its latest enhancements to the QCI Platform. These enhancements address industry challenges related to coding and offer management, dynamic host incentive programs, and cross-platform communication—capabilities that set QCI apart from their competitors.

Comprehensive Integration with Casino Management Systems for Coding and Offer Management

QCI’s updated platform streamlines the intricate process of coding offers, importing and pushing lists, and integrating directly with casino management systems. By providing robust programmatic interfaces, the platform enables properties to seamlessly manage complex coding requirements and deliver tailored offers to guests in real time. This level of integration and flexibility empowers operators to maximize their campaign performance and guest engagement.

Lynette O’Connell, VP of Customer Success for QCI, commented “With this enhanced integration, casinos can now execute highly targeted campaigns with greater accuracy and efficiency. By simplifying offer management and streamlining complex coding, we’re empowering operators to maximize guest engagement and ROI.”

Dynamic Metrics Adjustments and Tiering for Host Incentive Programs

Building on QCI’s core principle of real-time customization, the platform now offers advanced functionality to dynamically adjust player metrics and targets—such as theo net freeplay and comps—and reassign goal parameters based on mid-quarter book changes. These new tools enable properties to create adaptive host incentive programs with tiered goals and thresholds, ensuring that every incentive structure remains both profitable and continually optimized. Targets are cascaded down to the player level, giving hosts clear direction on who to engage and how to manage their players effectively.

Nick Salemi, Sr. Customer Engagement Manager for QCI, stated “One of the biggest compliments I hear about our software is how easy it makes managing host books and their targets. Player development leaders can focus on coaching and developing their teams, knowing the math behind host targets is accurate. If player relationships change, managers can trust that the data and targets will reflect those updates. From a host’s perspective, my favorite insight to highlight is the relationship between ADT and visit frequency, showing just how valuable each guest and visit truly is.”

Seamless Host Communication and Task Management Across Platforms

Responding to the industry need for a unified host workflow, QCI’s latest enhancements centralize text message tracking, email integration (including Outlook), and real-time task assignments under one intuitive user interface. Hosts and property managers can collaborate more efficiently, gain immediate visibility into host activities, and document performance for comprehensive reporting—far surpassing capabilities offered by QCI competitors.

Julie Margeson, Sr. Customer Engagement Manage for QCI, explained “Collaboration between Hosts, Slots, and Marketing is transforming how casinos engage with their customers. Slots teams coordinate with Hosts and players when games are added or removed from the floor, Hosts gain visibility into non-redeemers for Marketing campaigns, and Marketing creates targeted campaigns to promote new Slot Floor sections—inviting select players to generate excitement around new areas or games. By working together, these teams ensure players stay informed, enhance retention, and deliver a seamless, holistic customer experience rather than addressing isolated aspects of their journey.”

Executive Commentary

“In today’s rapidly evolving gaming environment, operators need agile solutions that bridge all aspects of player development—from comprehensive coding in IGT to dynamic host management and communications,” said Dr. Ralph Thomas, CEO of Quick Custom Intelligence. “We are committed to providing these high-level capabilities in a seamless platform so that our partners can maximize their revenue and strengthen player relationships.”

ABOUT QCI
Quick Custom Intelligence (QCI) has pioneered the revolutionary QCI Enterprise Platform, an artificial intelligence platform that seamlessly integrates player development, marketing, and gaming operations with powerful, real-time tools designed specifically for the gaming and hospitality industries. Our advanced, highly configurable software is deployed in over 250 casino resorts across North America, Australia, New Zealand, Canada, Latin America, and Europe. The QCI AGI Platform, which manages more than $35 billion in annual gross gaming revenue, stands as a best-in-class solution, whether on-premises, hybrid, or cloud-based, enabling fully coordinated activities across all aspects of gaming or hospitality operations. QCI’s data-driven, AI-powered software propels swift, informed decision-making vital in the ever-changing casino industry, assisting casinos in optimizing resources and profits, crafting effective marketing campaigns, and enhancing customer loyalty. QCI was co-founded by Dr. Ralph Thomas and Mr. Andrew Cardno and is based in San Diego, with additional offices in Las Vegas, St. Louis, Dallas, Denver and Phoenix. Main phone number: (858) 299.5715. Visit us at www.quickcustomintelligence.com.

ABOUT Dr. Ralph Thomas
Dr. Ralph Thomas is the Co-Founder and Chief Executive Officer of Quick Custom Intelligence. Ralph is a product visionary in applied analytics and the founder of two companies that deliver solutions in casino gaming, education, and adult learning. As a gaming industry veteran, Dr. Thomas has substantial experience implementing analytics into single and multi-property gaming companies to drive tangible and measurable gains to the bottom line and has built business intelligence tools for multibillion-dollar casinos. Dr. Thomas is co-author of seven books and over 80 articles on applied analytics and data science in gaming, an inventor on dozens of patents, and understands gaming from raw data up through casino operations, giving him a unique, 360-degree view of the industry.

ABOUT Lynette O’Connell
Lynette’s expertise is comprised of 20 years of high-volume gaming operations experience in CRM, database marketing, analysis, and loyalty club development. She leads the QCI customer team as well as being the customer advocate at QCI, focused on customer adoption, best practices, gathering feedback, and working to ensure that the customer’s goals are achieved satisfactorily, thus helping to increase sales as well. She defines and optimizes the customer’s journey post-installation, helping them develop best practices and working with them to measure success and see the ROI in QCI products.

ABOUT Nick Salemi
Nick earned a B.S. in Business Management and followed that up with a decade working in customer related roles from hockey teams to video technology companies, eventually finding his place in the casino gaming industry. He then focused on casino operations specifically as it pertains to customer loyalty and retention by delivering a positive experience and managing these relationships. He now brings all of this experience to the QCI Customer Success Team.

ABOUT Julie Margeson
Julie is a diversely skilled Technical Engineer with over 20 years of experience helping businesses in the casino industry maintain smooth operations and an optimal workflow. She is committed to applying emerging technologies to streamline product development and business operations. Her extensive background includes several years spent at top casinos in Las Vegas including The Cosmopolitan, Wynn, Encore and The Mirage. Now she brings her exceptional industry skills to work with the QCI Customer Success Team.

Contact:
Laurel Kay, Quick Custom Intelligence
Phone: 858-349-8354

The MIL Network –

March 19, 2025
MIL-OSI Canada: Canada Supports Tree-Planting Activities in Gatineau and Across Quebec
Source: Government of Canada News (2)

News release

Today, the Honourable Jonathan Wilkinson, Minister of Energy and Natural Resources, along with the Honourable Steven Guilbeault, Minister of Canadian Culture and Identity, Parks Canada and Quebec Lieutenant, announced more than $16 million in funding for four tree-planting projects that will bring environmental, health and social benefits to both urban and rural communities across the province of Quebec.
March 18, 2025 Gatineau, Quebec Natural Resources Canada

Today, the Honourable Jonathan Wilkinson, Minister of Energy and Natural Resources, along with the Honourable Steven Guilbeault, Minister of Canadian Culture and Identity, Parks Canada and Quebec Lieutenant, announced more than $16 million in funding for four tree-planting projects that will bring environmental, health and social benefits to both urban and rural communities across the province of Quebec.

The City of Gatineau and the City of Saint-Jean-sur-Richelieu are receiving funding for urban tree-planting projects that will plant new trees on public lands, helping to capture carbon, increase biodiversity and cool areas vulnerable to extreme heat.

With the funding announced today, the City of Gatineau will:
- increase its urban tree canopy to 30 percent by planting 80,000 new trees in all the city’s communities over the next six years;
- establish urban forests that will help improve air and soil quality, support biodiversity and contribute to the health and well-being of citizens; and
- create five new jobs in the region, as well as long-term contracts for forest maintenance over the years.
The City of Saint-Jean-sur-Richelieu will carry out its own tree-planting project that will:
- plant 70,000 new trees and increase its urban tree canopy to 20 percent, with the longer-term goal of 30-percent tree cover;
- beautify the city by planting trees and establishing micro-forests along roadways, riverbanks and in existing forests; and
- sequester carbon while increasing the city’s resilience to the effects of climate change.
Two more federally funded projects across the province will contribute toward reforestation and afforestation in rural areas of Quebec:
- Harpur Farm LTD is receiving funds to plant 251,000 trees in western Quebec, afforesting more than 208 acres of marginal lands and reforesting 41 acres in degraded woodlands. In collaboration with Nature Conservancy Canada, this project will expand the critical Plaisance–Tremblant ecological corridor, to allow wildlife to move freely north–south and will establish multi-species forests with edible forest products such as nuts, acorns, fruit and maple syrup.
- Pepinière Forestière Tshitassinu is receiving funds to develop a 100-percent automated, Indigenous-led tree nursery in Mashteuiatsh, Lac-Saint Jean, that will be able to produce more than 10 million seedlings per year. The proponent will set up 30 state-of-the-art greenhouses to produce seedlings to reforest the boreal forest.
These projects are being supported in part by Canada’s 2 Billion Trees (2BT) program. This program is dedicated to working with governments and organizations across the country to support the expansion of Canada’s forests while creating sustainable jobs in communities.
Quotes

“Trees are essential to our lives: they clean the air we breathe, they make the outdoors even more enjoyable, they provide new habitats for wildlife, and they help us adapt to a changing climate. The Government of Canada is pleased to be supporting municipalities and private organizations in Quebec in their efforts to increase urban green spaces and forests. By planting the right tree in the right place, we are creating a greener, healthier and more-resilient Canada for generations to come.”

The Honourable Jonathan Wilkinson
Minister of Energy and Natural Resources

“Trees are one of the most effective ways to fight climate change and tackle biodiversity loss. We’re helping communities across the country become greener and more sustainable. In the cities of Gatineau and Saint-Jean-sur-Richelieu, this means planting tens of thousands of new trees — reducing pollution, improving air quality and combating urban heat islands, especially during extreme heat. This initiative will increase the urban tree canopy by over 20 percent in both cities and increase the quality of life for families. With over $12 billion invested in conservation and climate solutions since 2015, our government is building a greener, more sustainable future for generations to come.”

The Honourable Steven Guilbeault
Minister of Canadian Culture and Identity, Parks Canada and Quebec Lieutenant

“Thanks to this investment from the federal government, Gatineau is taking another step toward implementing its Urban Forestry Plan and building a more sustainable city to reduce vulnerability to climate change. Planting 80,000 new trees is more than just an environmental initiative — it’s a concrete commitment to enhancing the quality of life for our residents by creating cooler, more attractive and accessible neighborhood’s and public spaces. With this vision, the city of Gatineau is accelerating the balance between urban development and the preservation of natural spaces.”

Maude Marquis-Bissonnette
Mayor, City of Gatineau

“Valuable to our community, this funding allows us to increase our efforts to green our territory, one of the main objectives of our Tree Policy. As a City, we are working to provide a greener, more resilient and sustainable environment for our citizens in a context where climate change is already having a real impact. This support is a new incentive in achieving these collective goals, whose impacts will be felt quickly and well beyond our generation.”

Andrée Bouchard
Mayor, Saint-Jean-sur-Richelieu

“Harpur Farms is a multi-generational family forestry business. We strongly believe that ‘great societies are those where people plant trees in whose shade they will never sit’. It is our privilege to work with a partner who shares the same long-term view.”

Jordan Harpur
President, Harpur Farms Ltd.

“First Nations want to play an active role in forest industry activities — especially in land management, forest reforestation and the production of forest seedlings to be planted on our Nitassinan (Territory) — and, above all, to leave an incredible legacy to our future generations.”

Ricardo Arias
President and Founder, Pepinière Forestière Tshitassinu

Quick facts
- The Government of Canada is contributing $2.7 million toward the City of Gatineau’s urban tree-planting project. The project is expected to plant 80,000 trees throughout the city by March 31, 2031.
- The City of Saint-Jean-sur-Richelieu received $2 million in funding from Canada’s 2BT program to plant 70,000 trees by March 31, 2031.
- Harpur Farm LTD received $1.9 million from Canada’s 2BT program to plant 251,000 trees on 208.5 acres of marginal lands and 41.9 acres in degraded woodlands.
- Canada’s 2BT program is funding $10 million to Pepinière Forestière Tshitassinu to build a fully automated Indigenous-led forest nursery.
- These projects are being supported by Canada’s 2 Billion Trees program. 2BT is part of the Government of Canada’s broader approach to nature-based climate solutions. The program is dedicated to working together with provinces, territories, local communities, non-and for-profit organizations and Indigenous Peoples across the country to ensure that the benefits of tree planting will endure for generations.
- 2BT engages with applicants to understand their plans for preparing sites, how they are selecting species and how they plan to monitor after planting. Funding recipients report every year, and the program has a long-term monitoring plan to monitor the progress and the health of the trees. By ensuring the initial job is done well, nature can then thrive, maintaining the long-term health of forested sites.
- As of September 2024, the Government of Canada has secured or is negotiating agreements with partners to plant over 716 million trees.
Associated links

Contacts

Natural Resources Canada
Media Relations
343-292-6096
media@nrcan-rncan.gc.ca

Joanna Sivasankaran
Director of Communications
Office of the Minister of Energy and Natural Resources
Joanna.Sivasankara@nrcan-rncan.gc.ca

Rachel Rivard
Manager – Public Relations, Gatineau
819 243-2345, ext 4001
rivard.rachel@gatineau.ca

Marie-Pier Gagnon
Digital Strategy and Media Relations Advisor, Saint-Jean-sur-Richelieu
450 357-2098, ext 2078
m.gagnon@sjsr.ca

Carl Simoncelli
Vice-President, Harpur Farms Ltd.
514-282-1996
carl.simoncelli@taoco.com

Ricardo Arias
President and Founder, Pepinière Forestière Tshitassinu
418-275-4545, ext 22
arias.ricardo175@gmail.com

Follow us on LinkedIn

MIL OSI Canada News –
March 19, 2025
MIL-OSI Canada: With U.S. tariffs on the horizon, Province strengthens forestry sector
Source: Government of Canada regional news

While on tour in the Okanagan this week listening to people’s priorities and and concerns and sharing how the Province is fighting back against U.S. President Donald J. Trump’s economic threats, Ravi Parmar, Minister of Forests, gathered with workers and members of the Salmon Arm community to celebrate the official opening of Canoe Forest Products’ new kiln.

The new kiln was made possible with funding from the Province’s BC Manufacturing Jobs Fund (BCMJF).

“When a giant throws punches, you don’t fight with one hand tied behind your back. That’s why we’re taking strong action to protect B.C. jobs, industries and workers,” said Parmar. “B.C.’s local wood-manufacturing companies like Canoe Forest Products are at the heart of our communities and are the best of what ‘Made in Canada’ has to offer.”

Canoe received more than $2.2 million in November 2023 to commission a new kiln, boosting both production and sustainability at its operation in Salmon Arm and help protect 200 good-paying jobs. Canoe has been a stalwart member of B.C.’s forestry sector for more than 60 years and is part of the Gorman Group, made up of four facilities across the province in Salmon Arm (Canoe), West Kelowna (Gorman Brothers) and Revelstoke (Downie and Selkirk).

Parmar accompanied Canoe employees, community guests, and Nick Arkle, chief executive officer of the Gorman Group, at an opening ribbon-cutting ceremony. The ceremony included a tour of Canoe’s new kiln and meeting Canoe employees.

“Having Minister Parmar today at the ribbon cutting for the commissioning of the new dryer at Canoe Forest Products is important in recognizing the B.C. government’s support through the Manufacturing Jobs Fund,” said Arkle. “This investment strengthens our operations through increased efficiency of cost and quality, while supporting local jobs and the long-term sustainability of our business.”

The new kiln will transform Canoe’s long-term business as a softwood sheathing, veneer and specialty-plywood manufacturer, allowing the company to diversify the species of wood it processes and reduce its reliance on Douglas fir. It will also reduce greenhouse gas emissions by 10% through the drying process.

“We’re actively supporting local manufacturers to create sustainable jobs, diversify product lines and scale up operations throughout B.C.,” said Diana Gibson, Minister of Jobs, Economic Development and Innovation. “The BC Manufacturing Jobs Fund has been a catalyst for growing local economies, helping companies innovate and diversify, and strengthening our supply chains.”

As part of a listening and learning tour of the Thompson Okanagan, Parmar is also visiting three other recipients of BCMJF grants. Tolko Industries received $8 million to help expand Tolko’s Heffley Creek operation. Family-run Gilbert Smith Forest Products in Barriere received $1.1 million to support facility modernization and new equipment. AcuTruss Industries Ltd. in Vernon received $100,000 to support the purchase and commissioning of equipment to manufacture precision cut I-joists through automation, while creating 12 new jobs.

The BCMJF supports forestry-product manufacturers to innovate their business lines and grow their operations, supporting a strong and resilient forestry sector throughout B.C. Building new markets and strengthening existing ones is integral to a strong future for B.C.’s forestry sector and economy.

Quick Facts:
- The BCMJF has committed more than $97 million to forestry-sector manufacturers in the province.
- To date, these investments have incentivized more than $680 million in private sector capital flowing into forestry-product manufacturing.
- Combined, these investments have led to the direct creation and protection of more than 3,500 forestry-sector jobs.
Learn More:

To learn more about Canoe Forest Products, visit: https://www.canoefp.com/

To learn more about how the BC Manufacturing Jobs Fund has supported the B.C. forest sector, visit: https://www2.gov.bc.ca/gov/content/employment-business/economic-development/support-organizations-community-partners/rural-economic-development/manufacturing-jobs-fund

MIL OSI Canada News –
March 19, 2025
MIL-Evening Report: Dozens of surfers fell ill after swimming in seas that turned into a ‘bacterial smoothie’ of sea foam. What was in it?

Source: The Conversation (Au and NZ) – By Ipek Kurtböke, Associate Professor in Microbiology, University of the Sunshine Coast

Anthony Rowland

Two windswept beaches 80km south of Adelaide have been closed to the public after locals reported “more than 100” surfers fell ill on the weekend. Their symptoms included “a sore throat, dry cough and irritated eyes” or blurred vision. Dead sea dragons, fish and octopuses have also washed up on the beaches.

Water samples have been taken for testing and health authorities suspect toxins from an algal bloom may be to blame.

But the “mysterious foam” in the water is a health hazard in its own right.

My research shows people should not go in the sea when it is foaming. These bacterial smoothies can contain more harmful pathogens than a sewage treatment plant – and you wouldn’t go swimming in sewage.

Beware of sea foam

Sea foam doesn’t look dangerous. But looks can be deceiving. This foam is likely to contain a mixture of many different types of microbes and pollutants.

On beaches with lots of sea foam, people should avoid all contact with the water – and definitely avoid surfing or breathing in the contaminated water droplets in the air.

I have been studying sea foams since 2003. In 2021, my PhD student Luke Wright and I published research on our discovery of infectious disease-causing microbes in the sea foams of the Sunshine Coast in Queensland.

Named Nocardiae, these microbes are filamentous bacteria that can cause foaming in wastewater treatment plants, particularly when there’s a high load of fats, oils and greases. We now know the bacteria can cause foaming in the sea too.

We detected 32 strains of Nocardiae in samples of sea foam from beaches at Noosa and south to Caloundra.

Some of these species were new to science. So we named them Nocardia australiensis and Nocardia spumea (“spumea” meaning froth or foam).

Nocardiae bacteria are known to cause skin, lung and central nervous system infections in both humans and animals. But the infection usually only takes hold in people with weakened immune systems. The bacteria can cause abscesses in the brain, lungs and liver.

The incubation time can range between one and six months, depending on the strain of bacteria and the health status of the person involved.

This means it will take some time for people to get infected and show symptoms. Long-term medical monitoring is required to detect the condition, as it can be masked by other disease-causing microbes such as the infectious agent that causes tuberculosis.

Where is the sea foam coming from?

During heavy winds, microbial spores from the soil can end up on the surface of the ocean.

If the water is polluted with floating fats and grease as well as asphaltene, motor oil and hydrocarbons, these spores soon form bacterial colonies or biofilms that go forth and multiply.

That’s because these microbes use pollution as a food source. Seawater is increasingly polluted by runoff from farmland or hard surfaces such as roads. Everything washed into the stormwater drains out to sea. During heavy storms accidental overflow from sewage systems can also occur, as Rockhampton has experienced in the past.

Algae is another food source for these microbes, as they can crack open algae cells to access the nutritious oils inside. Sea foams have been observed in northern France during algal blooms.

Warm water makes matters worse, as the warmth increases the survival rate for Nocardiae. In our laboratory on the Sunshine Coast, we were able to replicate a foaming event. We found foaming started at water temperatures of 24°C and above.

What can be done about it?

Reducing stormwater pollution will reduce the growth of sea foams. Any potential incident of infections of these surfers can raise awareness of the problem.

But sea foam can also be found in pristine environments such as national parks, where it is mostly due to oils leached from trees. We proved this fact at Noosa National Park.

In my experience on the Sunshine Coast, the council and other local authorities have been very receptive to advice on how to fix the problem. They have supported our research and also completed major upgrades at sewage treatment plants over the last 20 years.

Once there’s an outbreak in the environment it is very difficult to control. That’s because ocean is an open system, as opposed to the closed system of a sewage treatment plant, where operators can use special chemicals or mechanical equipment to break the foam down. In open sea it’s impossible. So we just have to wait for it to go away.

In this case, teams of researchers from different disciplines should come together to explore the issue. Microbiologists, marine scientists, meteorologists and chemists should team up to find out what’s going on. Ocean currents should be followed to determine where the pollutants end up.

Sea foam is a global issue

Earlier this month Tropical Cyclone Alfred whipped up sea foam all the way along the coast from South East Queensland to northern New South Wales. I was horrified to see footage of people playing in the thick, sticky sea foam, blissfully unaware of the dangers.

But the problem is not confined to Australia, sea foam can be found at polluted beaches all over the world. Examples include India and Turkey.

I have been telling this story ever since I first observed it on the Sunshine Coast in 2003. Every time there’s a major sea foam event, the media is interested. But research support is also needed in the gaps in between. We scientists need to monitor the shorelines continuously.

As long as humanity continues to produce pollution, the problem will increase. It will also worsen as the world warms, because sea foams like it hot.

Ipek Kurtböke does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

– ref. Dozens of surfers fell ill after swimming in seas that turned into a ‘bacterial smoothie’ of sea foam. What was in it? – https://theconversation.com/dozens-of-surfers-fell-ill-after-swimming-in-seas-that-turned-into-a-bacterial-smoothie-of-sea-foam-what-was-in-it-252506

MIL OSI Analysis – EveningReport.nz –

March 19, 2025
MIL-OSI: WuBlockchain Talks with BitMart Founder Sheldon: From Bitcoin in College to 7 Years of Entrepreneurship and U.S. Regulations

Source: GlobeNewswire (MIL-OSI)

Mahe, Seychelles, March 18, 2025 (GLOBE NEWSWIRE) — Celebrating BitMart’s 7th anniversary, Wu Blockchain—one of the cryptocurrency industry’s leading media platforms—conducted an exclusive interview with BitMart founder Sheldon. The interview provides an in-depth retrospective on Sheldon’s journey from discovering Bitcoin as a college student to founding and scaling BitMart into a global digital asset exchange. It also explores the exchange’s evolution over the past seven years, key industry trends, and insights into the regulatory landscape shaping the future of crypto trading.

The full interview is presented below.

Sheldon, founder of BitMart, first encountered Bitcoin as a college sophomore in 2013 after reading about an ASIC mining breakthrough. That summer, he attended a Bitcoin conference in Hangzhou, meeting industry figures like CZ, Star Xu, Mo Buyi, and James Gong.

After earning his master’s degree in 2017, he founded BitMart, which later secured investment from Fenbushi Capital in 2020. In 2024, BitMart launched its in-house derivatives system. With a CCO in place from day one, the exchange has maintained a relatively light regulatory burden.

BitMart’s user retention hinges on data asset appreciation and interactive services. While Bitcoin’s downside risk appears limited, the broader crypto market remains sluggish. If political leadership shifts in four years, stricter regulations could follow.

Encountering Bitcoin in Sophomore Year: Thought It Was Really Cool

Colin: Sheldon, this year marks the 7th anniversary of BitMart. Congratulations on your continued growth and overcoming numerous challenges along the way. Could you start by briefly introducing your background, including your educational experience and your story before entering the crypto space?

Sheldon: Recently, our platform celebrated its 7th anniversary. The company has actually been established for over 7 years, with about 9 months spent in preparation before our official launch on March 15, 2018, coinciding with the date of 3.15.

Let me briefly introduce my past experiences. I studied computer science at Hangzhou Dianzi University. This background allowed me to come into contact with blockchain early on, given the close relationship between computer science and blockchain. I first encountered Bitcoin in early 2013 while I was a sophomore, filled with interest in new technologies and eager to explore cutting-edge innovations.

At that time, I was still using Renren, a social media platform, where I operated my own small site on a platform called “Renren Xiaozhan,” writing code and collecting interesting news in the tech field to share. One day, I came across a news article about Brooklyn, New York, mentioning two young people who improved ASIC mining algorithms, increasing Bitcoin mining speeds by hundreds of times. This news piqued my interest, and I began to delve deeper into Bitcoin.

At first, I was extremely excited, but to be honest, I only understood computers and programming and had no knowledge of finance. I considered Bitcoin to be a revolutionary technology that could change the world. From the perspective of financial freedom, it made global transfers free and convenient, which was an attractive concept for me at that time. Young people always pursue freedom, and I thought Bitcoin was really cool.

2013 Hangzhou Bitcoin Conference: Met CZ, Star, and Others

Colin: So, did you mine back then?

Sheldon: Yes! While I was still studying, I tried mining using my own computer. The industry was still small back then, and I often met people at offline events. For instance, during the summer of 2013, I attended a Bitcoin conference in Hangzhou and met people like CZ, Star Xu from OK, Jame Gong, Mo Buyi, and Nick Chong. Everyone participated out of enthusiasm for blockchain, and there was quite a bit of interaction, which allowed me to meet many future industry partners.

Colin: Did you continue to explore the industry after that?

Sheldon: During college, I did some blockchain development and even created my own coin, which was quite well-known in 2013. Afterwards, I chose to focus on my studies and went to Stevens Institute of Technology in New Jersey, USA, to pursue a master’s degree in computer science. While academically returning to the traditional computer field, I continued to follow developments in blockchain.

Overall, Bitcoin indeed inspired me, especially the financial innovations it brought. What truly deepened my understanding of this industry was in 2016, when a fellow alumnus from my university, who had gone to the US before me and was working at SAP in Seattle, became the group leader of our overseas alumni association. We often chatted and exchanged views on blockchain and Bitcoin. During those years, I also attempted algorithmic trading and discussed related issues with him.

Sheldon: Later, I read the Ethereum white paper, and after finishing it, I felt invigorated. At that time, Ethereum’s vision was to build a “world computer,” putting computation and storage entirely on-chain. This model was more intuitive compared to Bitcoin, with a grander vision and broader imaginative space, along with richer practical application scenarios.

Colin: Was this in 2015?

Sheldon: It was in the second half of 2016, just before Ethereum’s explosive growth. After reading its white paper, I felt it was a completely new world. Unlike Bitcoin’s philosophy, Ethereum could support smart contracts and had greater extensibility, which elevated my understanding of blockchain to another dimension.

Subsequently, I and some classmates began to try coding and created some small applications on Ethereum. At the same time, I also participated in the cryptocurrency trading frenzy, accumulating some initial capital in the market. I experienced two bull market cycles and made some profits, but compared to those early players fully devoted to the industry, my capital accumulation was not that large.

2017: The Opportunity and Preparation for BitMart’s Establishment

In 2017, after graduating with my master’s degree, the market was particularly favorable for cryptocurrencies. I began considering my next direction and ultimately decided to start a business with some friends I met in 2013. Our idea was to establish a trading platform, so we began preparations in September 2017 and officially launched on March 15 of the following year. During those 8 to 9 months, we faced many challenges, including team building and fundraising. The entire process was quite tortuous, but we managed to launch the exchange right at the end of the bull market.

Since then, BitMart Exchange has officially entered a fast-paced development track. The seven years have been both long and filled with challenges. Joining the crypto space was actually a coincidence, but fundamentally, it was driven by my interest in technology and the intriguing nature of blockchain. On the other hand, my understanding of traditional finance was limited, while blockchain offered a brand-new financial paradigm that could potentially disrupt the traditional financial system from a technical standpoint. Therefore, I ultimately decided to immerse myself in this industry and have persevered ever since.

Colin: What was your strategy when you first started the exchange? Did you have a clear direction at that time?

Sheldon: Our initial idea was quite simple. On one hand, the crypto market was in a rapid development phase, and on the other hand, competition in the exchange industry was not as fierce as it is now, with a high demand for listing coins. From the perspective of market demand, we believed there was significant potential for growth in exchange operations.

Additionally, we identified three core areas in the industry: exchanges, mining, and chips. Ultimately, we chose exchanges as our entrepreneurial direction since the other two fields were not our areas of expertise.

Our competitive strategy has actually remained largely unchanged from that time to now. The core value of an exchange lies in providing a trading venue, liquidity, and quality trading assets, so we decided from the outset to adopt a rich listing strategy. However, in 2017, the industry infrastructure was still underdeveloped, and optimizing product richness, liquidity, and technical foundation was much more challenging than it is today.

At that time, there was a severe shortage of talent in the entire industry. There were almost no real blockchain practitioners, and most of the talent had to be cultivated or solutions had to be explored independently, making technical difficulties relatively high. However, we consistently adhered to our competitive strategy, which has continued to this day.

Our team had a strong global presence, which led to BitMart being highly regarded worldwide. When the exchange launched, it garnered significant attention, and the subsequent user structure remained consistent across the globe.

2017-2021: BitMart’s Journey from Startup to Rapid Development

Colin: If you were to divide BitMart’s 7 to 8 years of development into different phases, how would you define these phases? What are their characteristics?

Sheldon: I believe that BitMart’s development phases are closely linked to changes in the company’s organizational structure, talent framework, and business scale. If we were to categorize the phases, I believe the company is currently in the fourth phase.

The first phase includes the years 2017 to 2019, during which BitMart was in its startup stage as a company. At that time, our team was small, and our business level and market share were still in the early stages of development.

The bear market in 2019 and the market slump in early 2020 were significant tests for the team. The entire industry was extremely cold at that time, leading us to undergo a wave of personnel adjustments, with many early core members choosing to leave due to the changing market environment. I believe that during that phase, every exchange faced immense survival pressure. It was the most challenging period.

Following that, from 2020 to 2021, we entered the second phase, which was a rapid development phase. In early 2020, Fenbushi Capital invested in our equity, which, although not a large amount, was highly significant for us.

In 2020, we upgraded the team comprehensively, and the organizational structure underwent a major adjustment. Many key core members joined at that time and have remained with the company, becoming the backbone of today’s organization, taking on crucial management roles. This organizational adjustment laid the foundation for BitMart’s rapid growth thereafter.

Sheldon: In 2020 and 2021, with the optimization of our talent structure, we also welcomed a bull market. During those two years, asset issuance was exceptionally frantic, and DeFi summer drove the expansion of the entire crypto industry’s asset scale, also creating numerous opportunities for the appreciation of emerging assets. This industry trend directly propelled the business growth of BitMart Exchange.

Especially in mid-2021, our performance data reached an extraordinarily exaggerated growth level, with monthly trading volume increasing by 100 times compared to 2020. In terms of user growth, the number of retail traders and app downloads surged, and we briefly entered the top 20 of the Apple Store, even surpassing PayPal at one point. During that time, BitMart’s daily downloads reached hundreds of thousands, with daily registrations peaking in the tens of thousands, rapidly increasing our market share. It can be said that at that time, our exchange business ranked at least in the top five globally.

Our success primarily relied on a rich asset issuance strategy and the user-friendliness of our platform products.

2022-2023: Strengthening Risk Control and Security Investments

Sheldon: We define the years 2022 and 2023 as the “consolidation phase” of development. The main focus of our investment has been on products, research and development, security, and risk control. We have conducted another round of upgrades and optimizations for our internal management processes, product research systems, operational SOPs, and team structure.

The years 2017 to 2019 were led by the first generation of BitMart’s management team, while 2020 to 2021 saw the introduction of the second generation of core leadership. In 2022 to 2023, we welcomed the third generation of core leadership, gradually moving towards a professional managerial approach, bringing in many key personnel from traditional finance industries and other leading exchanges. At the same time, we also undertook large-scale upgrades and iterations of our technical systems, optimizing the exchange’s infrastructure.

Moreover, the construction of our risk control and security systems has also been further strengthened, with substantial investment in security facilities. To some extent, we view the bear market as an opportunity to focus on internal optimization and enhance overall stability and risk resistance.

2024: Launching an In-house Developed Derivatives System

Sheldon: I believe that the period from 2024 to 2025 will be the fourth development stage for BitMart, marking a new growth phase. The core growth areas during this phase will primarily focus on contracts and derivatives business.

In 2024, we officially launched a brand-new an in-house developed derivatives system, which is a fully in-memory trading clearing and settlement system that greatly enhances trading efficiency and performance. In terms of derivatives products, this system has nearly bridged the gap between us and first-tier exchanges. The launch of this complete clearing and settlement system has made the expansion of our derivatives business much smoother. Over the past year, the growth rate of derivatives trading has been rapid, becoming a new growth engine for the company.

Additionally, to accommodate this growth, we have also made adjustments and optimizations to our fourth-generation leadership team, further introducing new core management. This evolution of organizational structure is actually an inevitable trend, as it is difficult to advance the company to the next stage without adapting the organizational structure to changes in business models.

BitMart’s Core Strategy for Compliant Development

Colin: I remember you have always emphasized compliance. Compared to other trading platforms, your strategy seems somewhat different. How did you formulate your compliance strategy back then?

Sheldon: Yes, BitMart established a CCO (Chief Compliance Officer) from the very beginning. Our core executive team also includes someone specifically responsible for legal affairs. In the early stages, we conducted in-depth analyses of the compliance environment for business development and formulated a comprehensive compliance operation plan, closely cooperating with law firms to ensure our business operations were legal and compliant. Thus, we have a relatively light historical burden.

Sheldon: I believe that the founders of each exchange have different personalities and decision-making styles. As entrepreneurs, the most important thing is to clearly understand what you truly want, what you have, and what you are willing to give up.

Some exchanges choose an extremely aggressive growth model, willing to take compliance risks in pursuit of excess returns. We, on the other hand, clearly chose a more stable development path from the outset, unwilling to take unnecessary legal risks. This reflects the differing considerations of various entrepreneurs regarding risk and return; each exchange will have its unique considerations.

Future Market Expansion Directions: Focus on Asia and Europe

Colin: Has your user base changed? You just mentioned the derivatives business, and in certain markets, you clearly cannot conduct derivatives trading. Has there been any adjustment in the geographic distribution of your users?

Sheldon: Our derivatives business was relatively small before 2024. Compared to derivatives trading, spot trading has relatively lenient regulatory requirements, so we have remained in a relatively controllable state regarding regulatory pressure.

From 2021 to 2024, there has been a noticeable change in our user distribution, shifting from primarily North American users to being dominated by Asian and European markets. Currently, our derivatives trading remains mainly concentrated in the Asian market, where user activity and trading demand are still the highest.

Core Value of Retaining Users Lies in “Appreciation of Data Assets” and “Interactive Services”

Colin: So, how is your overall revenue and profitability situation now? How has the company performed in terms of revenue?

Sheldon: Overall, the situation is quite good. Our ability to list coins has always been strong. If you conduct market research, you will find that we are consistently one of the exchanges with the most and fastest listings in the industry. Our accelerated listing strategy has kept our overall revenue at a relatively stable high level, especially in terms of revenue from spot trading fees, where we have always maintained a leading position.

In 2023, we explicitly proposed a strategy for diversifying our “revenue pillars,” expanding from solely spot revenue to include derivatives revenue. In 2024, the growth of derivatives trading significantly boosted our overall revenue. This has also led to some expansion within our team, though we still maintain streamlined operations. Currently, the company has nearly 500 employees, more than doubling in size compared to 2021.

Colin: Will there be any new changes in the company’s strategy this year?

Sheldon: Yes, BitMart’s core strategy has been evolving, but there is a core vision and mission that has never changed. Over the past five years, during every annual and quarterly meeting, we have repeatedly emphasized our vision—to become the infrastructure of the future Web3 world.

Colin: You mentioned the vision that the company has consistently adhered to. If you were to summarize the core values of BitMart’s development over the years or the most important aspects of corporate culture, how would you define them?

Sheldon: From a user-facing perspective, we have always aimed to provide a free trading venue, offering users the opportunity for asset selection, and creating an open, free, and trustworthy Web3 platform. Therefore, our products and trading tools are always designed from the user’s needs, striving to meet user demands as much as possible in terms of trading experience and asset support. This philosophy has enabled BitMart to maintain a high user retention rate and continuously expand its market.

Colin: What kind of values do you advocate in terms of the company’s internal culture?

Sheldon: The core values of our internal culture can be summarized in five keywords: trust, reliability, simplicity, efficiency, and persistence.

These values permeate the company’s daily communication, strategy formulation, and business execution processes. Whether in team collaboration or decision-making in response to market changes, we consistently adhere to these five core principles.

From the revenue strategy perspective, we are promoting the expansion from spot income to derivatives income to achieve diversified growth. From a long-term strategic viewpoint, this year we also formulated a “decentralized wallet strategy.” In the third quarter of 2025, we plan to launch our own decentralized wallet and integrate it with existing CEX wallets.

For exchanges, the core value of retaining users lies in the “appreciation of data assets” and “interactive services.” The wallet strategy is extremely important to us as it is not merely a storage tool but also serves as the gateway for users to enter the Web3 world. Based on this entry point, we can establish a complete asset appreciation system and provide services such as asset management and information interaction. This aligns with the core direction of our long-term vision and mission.

Colin: Is it necessary to develop a wallet in-house? For instance, acquiring existing on-chain products or wallets might also be a good choice, much like Binance acquiring Trust Wallet back in the day?

Sheldon: Indeed, acquisition is a feasible option, but we have already built substantial technical expertise in this area. Our asset management framework also collaborates with some third-party custodians, such as Copper, Fireblocks, and Cobo. However, our internal team has accumulated significant experience in wallet technology over a long period. The year 2025 is a suitable time, so we decided to develop it in-house rather than pursue an acquisition directly.

The Trend of Integration Between CEX and DEX

Colin: Your strategy is also an issue that all CEXs must face. Just like in 2017 when Binance capitalized on the altcoin market boom, today CEXs may face challenges from DEX and on-chain economies. Do you think this challenge will fundamentally impact CEXs?

Sheldon: I believe that CEX and DEX each have their distinct advantages, and the user groups they serve differ significantly. Currently, it is unlikely that the product forms of the two will fully merge in the short term, but in the medium to long term, CEX and DEX will gradually converge, borrowing from and integrating with each other’s technologies.

For example, many DEXs rely on decentralized backends for clearing and settlement, but the front-end presentation and interaction still use centralized methods. Similarly, CEXs are beginning to integrate decentralized self-custody wallets into their internal centralized wallets, enhancing users’ control over their assets.

I think that in the future, both CEX and DEX will continue to grow in market size and ultimately form a state of integration. DEXs have clear advantages in terms of transparency, self-custody, and censorship resistance, while CEXs still dominate in high-frequency trading, high liquidity, and support for complex trading strategies. Therefore, neither will completely replace the other; instead, they will continually move closer in their respective areas of expertise, forming a complementary relationship.

Colin: Do you think the market space for CEX will become smaller? On one hand, it faces competition from DEX, and on the other, local compliance exchanges are also developing rapidly.

Sheldon: This question needs to be analyzed separately. In terms of absolute market value, the market size of CEXs will continue to grow over the next 5 to 10 years. However, in terms of market share, the outlook may not be as optimistic.

Currently, regulation on DEX is relatively lenient. For instance, the withdrawal of lawsuits against DEX-driven protocols like Uniswap has provided many opportunities for DEX to grow. Therefore, the market share of DEX may continue to rise.

However, the growth of CEXs still relies on the overall expansion of assets in the crypto industry. Especially with the trend of digital financial assets, the advent of the AI era will generate a large number of new data assets, significantly increasing their application and interaction frequency. Overall, the market size of the industry (especially for CEX exchanges) will continue to grow and is unlikely to stagnate at least in the next 5 to 10 years.

Nonetheless, changes in market share may suggest that more emerging entrepreneurs will find greater opportunities in DEX or other DeFi areas.

Bitcoin Market Prediction: Long-Term Target of $1 Million, Short-Term Influenced by Federal Reserve Policies

Colin: You have a lot of observations about the US market, and we’ve discussed the current market state. How do you see the upcoming market trend? What impact might adjustments in US policies have on the market? The US government is indeed loosening regulations and providing greater support to the industry, but at the same time, macro factors like rising inflation may have some influence on the market. How do you view the future market trends? From the company’s perspective, you must also assess these factors, as they will directly impact future investments and growth planning. Additionally, how do you view the opportunities that changes in the US regulatory environment may bring to the industry?

Sheldon: From the perspective of the secondary market, Bitcoin has gradually decoupled from other asset classes, but it still remains highly correlated with US macroeconomic policies. Therefore, in the long term, most people’s view is consistent—Bitcoin will eventually rise to $1 million. However, in the short term, Bitcoin’s price movements are still largely dependent on the Federal Reserve’s interest rate cut policies, the inflow of funds for Bitcoin spot ETFs, and any potential national Bitcoin reserve plans.

Currently, the downside potential for Bitcoin seems limited, and while market liquidity is somewhat constrained, Bitcoin’s fundamentals remain solid. However, aside from Bitcoin, the market situation for other crypto assets is relatively bleak. The market currently lacks new capital influx, and there are no truly valuable “trust-level” protocols or applications emerging from the product side. Therefore, in terms of value creation and liquidity, the entire market remains in a sluggish state.

This recent market surge’s funding primarily comes from traditional financial institutions and the inflow of US ETFs. Bitcoin’s ultimate destination is to be held by banks and a few compliant custodians, rather than flowing into DEXs or unregulated entities as it did in the past. Thus, the overall leverage in the market has significantly decreased. In previous bull markets, offshore exchanges or unregulated entities had very high leverage, leading to market over-expansion, while the deleveraging process frequently resulted in liquidation waves, creating massive volatility. However, in this round, the leverage spillover effect is relatively weak; even though Bitcoin’s turnover rate is high, the proportion of retail holdings has significantly decreased. Consequently, the entire secondary market, especially the altcoin market, remains in a relatively challenging phase.

Sheldon: From the perspective of the US policy environment, the potential return of Trump could bring certain opportunities to the market. In the past, the US government’s regulatory model was primarily enforcement-driven, as the crypto industry has long lacked clear legal foundations. Enforcement mainly relied on securities laws and anti-money laundering regulations. Furthermore, multiple agencies (SEC, CFTC, DOJ, etc.) have regulated the crypto industry under a traditional financial framework, with a very tough stance. This multi-agency regulatory model has led to a significant outflow of domestic companies, causing market funds to remain in a prolonged wait-and-see state.

Trump’s election, while not immediately resulting in new legislation, could positively influence the regulatory attitude. From the legislative process perspective, after a bill is proposed in the House, it needs to be reviewed by the Senate, followed by multiple rounds of amendments. Therefore, forming a stable regulatory framework will take a long time. However, the Trump administration’s attitude might bring short-term positive impacts on the market, especially for institutional investors who are currently hesitant, as this could serve as an important incentive, releasing suppressed market capital and the energy for product innovation.

Currently, enforcement agencies maintain a strong crackdown on illegal activities and financial crimes in the crypto industry. However, in terms of securities regulation, especially regarding innovative businesses involving crypto assets, such as tokenization and DeFi compliance, there is a possibility of greater policy leniency. Overall, the trend suggests that the future US crypto industry will gain a more stable policy environment to a certain extent, rather than being in a high-pressure and uncertain state as in the past few years.

Colin: But are you concerned that US policies may undergo drastic changes with party shifts? For instance, two or four years down the line, if Congress changes, could there be a significant reversal in policy direction?

Sheldon: That possibility does exist, and it can even be said to be highly likely. This four-year period is better described as a postponement of enforcement rather than a cessation. For example, several crypto-related companies were prosecuted right before the election last year, and some significant fines and settlements were also finalized during Biden’s term. If political parties change again in four years, the likelihood of stricter regulatory policies remains high.

About BitMart
BitMart is the premier global digital asset trading platform. With millions of users worldwide and ranked among the top crypto exchanges on CoinGecko, it currently offers 1,700+ trading pairs with competitive trading fees. Constantly evolving and growing, BitMart is interested in crypto’s potential to drive innovation and promote financial inclusion. New users can register here to unlock an $8,000+ welcome bonus.

Disclaimer:
Use of BitMart services is entirely at your own risk. All crypto investments, including earnings, are highly speculative in nature and involve substantial risk of loss. Past, hypothetical, or simulated performance is not necessarily indicative of future results.

The value of digital currencies can go up or down and there can be a substantial risk in buying, selling, holding, or trading digital currencies. You should carefully consider whether trading or holding digital currencies is suitable for you based on your personal investment objectives, financial circumstances, and risk tolerance. BitMart does not provide any investment, legal, or tax advice.

The MIL Network –

March 19, 2025
MIL-OSI: CJMining Expands in North America, Plans to Acquire 53 MW Bitcoin Mining Facility in Oklahoma

Source: GlobeNewswire (MIL-OSI)

Columbus, OH, March 18, 2025 (GLOBE NEWSWIRE) — According to the latest industry analysis from CoinDesk, the Bitcoin mining industry in North America has experienced an annual growth rate of approximately 15%, driven by continuously falling electricity costs. To capitalize on this advantageous trend, globally recognized Bitcoin mining service provider CJMining announced that it has signed a letter of intent to acquire a controlling stake in a 53-megawatt (MW) Bitcoin mining facility located in Oklahoma, United States.

Low-Cost Energy Strategy: Electricity Costs at Just $0.029/kWh

CJMining’s official announcement highlighted that the targeted mining facility is located in a remote, unpopulated area of Oklahoma, equipped with advanced infrastructure including stable power supply, state-of-the-art security systems, and modern mining equipment. The facility utilizes air-cooled Bitcoin mining hardware to maintain high performance and stable hash rates.

CJMining emphasized that the facility boasts an extremely competitive electricity price, averaging around $0.029 per kilowatt-hour (kWh), substantially below North America’s current industry average of approximately $0.04/kWh. This advantage is expected to significantly boost the company’s long-term profitability and competitive position in the mining industry.

The acquisition is subject to several standard conditions, including financial audits and legal due diligence, with completion expected in the first half of 2025. However, the company has acknowledged that the finalization of the deal will depend on satisfactory outcomes of the due diligence process.

CJMining CEO Highlights Strategic Long-Term Vision

In a recent media interview, CJMining’s CEO stated:

“As the Bitcoin mining industry in North America continues its rapid growth, it is crucial for us to leverage strategic low-cost energy advantages and proactively establish operations in high-growth regions. This acquisition is a pivotal step toward achieving CJMining’s ambitious target of reaching 1 gigawatt (GW) of global mining power capacity.”

He further emphasized that the company remains committed to maintaining secure, compliant, and transparent blockchain infrastructure, with future plans to expand operations into additional major digital asset sectors.

Launch of CJMining Pool to Enhance Market Competitiveness

In parallel, CJMining recently launched its proprietary mining pool service—CJMining Pool—offering miners exceptionally competitive commission rates starting at just 0.4%. Miners can easily access the pool services through CJMining’s official application, currently focused exclusively on Bitcoin (BTC) mining.

CJMining Pool provides miners with real-time hash-rate monitoring tools, optimized firmware solutions, and regular equipment maintenance services. Additionally, customized mining solutions are available to institutional clients, aimed at maximizing overall mining profitability.

Community-Driven Strategy: Encouraging Shared Growth

To promote a vibrant mining ecosystem, CJMining has introduced an incentivized referral program encouraging users to invite friends to join Bitcoin mining activities. Participants in the referral program receive additional rewards, effectively boosting their individual earnings and benefiting the overall community.

This approach aligns with current digital marketing trends, with recent studies showing referral-based community growth significantly enhances user engagement and mining profitability compared to traditional methods.

Future Outlook and Market Positioning

As the global Bitcoin mining industry enters a new growth phase in 2025, CJMining’s strategic positioning in North America’s low-cost energy market substantially enhances its competitive edge. Company executives confirmed that CJMining would continue strengthening partnerships with leading ASIC mining equipment manufacturers globally, ensuring technological leadership and maximizing long-term benefits for miners.

For more information, visit https://cjmining.com

Media Contacts:

● Contact: Andrew Jackson

● Organization: CJMining

● Email: support(at)cjmining.com

● Website: https://cjmining.com

Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. Cryptocurrency mining and staking involve risk. There is potential for loss of funds. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.

The MIL Network –

March 19, 2025
MIL-OSI: Dime Announces Expansion in Manhattan With Hire of Jim LoGatto

Source: GlobeNewswire (MIL-OSI)

HAUPPAUGE, N.Y., March 18, 2025 (GLOBE NEWSWIRE) — Dime Community Bancshares, Inc. (NASDAQ: DCOM) (the “Company” or “Dime”), the parent company of Dime Community Bank (the “Bank”), announced today that Jim LoGatto has joined the Company as an Executive Vice President. LoGatto will be responsible for growing Dime’s commercial banking business in Manhattan.

Most recently, LoGatto served as Executive Vice President and Director of US Private Banking at Israel Discount Bank of New York. He also held various executive level positions at Wells Fargo Bank and Independence Community Bank. LoGatto began his career at Irving Trust Company and subsequently joined Republic National Bank where he rose to the position of Managing Director.

Stuart H. Lubow, President and Chief Executive Officer of Dime, said, “We are excited to attract a banker of Jim’s caliber to our organization. Jim is an extremely seasoned banker with a very strong reputation in the Manhattan marketplace. Hiring Jim is consistent with our stated goal of expanding our deposit and lending presence in Manhattan.”

ABOUT DIME COMMUNITY BANCSHARES, INC.

Dime Community Bancshares, Inc. is the holding company for Dime Community Bank, a New York State-chartered trust company with over $14 billion in assets and the number one deposit market share among community banks on Greater Long Island ⁽¹⁾.

Dime Community Bancshares, Inc.
Investor Relations Contact:
Avinash Reddy
Senior Executive Vice President – Chief Financial Officer
Phone: 718-782-6200; Ext. 5909
Email: avinash.reddy@dime.com

____________________
¹ Aggregate deposit market share for Kings, Queens, Nassau & Suffolk counties for community banks with less than $20 billion in assets.

The MIL Network –

March 19, 2025
MIL-OSI Economics: Microsoft and NVIDIA accelerate AI development and performance
Source: Microsoft

Headline: Microsoft and NVIDIA accelerate AI development and performance

Together, Microsoft and NVIDIA are accelerating some of the most groundbreaking innovations in AI. We are excited to continue innovating with several new announcements from Microsoft and NVIDIA that further enhance our full stack collaboration.

Together, Microsoft and NVIDIA are accelerating some of the most groundbreaking innovations in AI. This long-standing collaboration has been at the core of the AI revolution over the past few years, from bringing industry-leading supercomputing performance in the cloud to supporting breakthrough frontier models and solutions like ChatGPT in Microsoft Azure OpenAI Service and Microsoft Copilot.

Today, there are several new announcements from Microsoft and NVIDIA that further enhance the full stack collaboration to help shape the future of AI. This includes integrating the newest NVIDIA Blackwell platform with Azure AI services infrastructure, incorporating NVIDIA NIM microservices into Azure AI Foundry, and empowering developers, startups, and organizations of all sizes like NBA, BMW, Dentsu, Harvey and OriGen, to accelerate their innovations and solve the most challenging problems across domains.

Come see Microsoft at the NVIDIA GTC AI Conference

Empowering all developers and innovators with agentic AI

Microsoft and NVIDIA collaborate deeply across the entire technology stack, and with the rise of agentic AI, they are thrilled to share several new offerings that are available in Azure AI Foundry. First is that Azure AI Foundry now offers NVIDIA NIM microservices. NIM provides optimized containers for more than two dozen popular foundation models, allowing developers to deploy generative AI applications and agents quickly. These new integrations can accelerate inferencing workloads for models available on Azure, providing significant performance improvements, greatly supporting the growing use of AI agents. Key features include optimized model throughput for NVIDIA accelerated computing platforms, prebuilt microservices deployable anywhere, and enhanced accuracy for specific use cases. In addition, we will soon be integrating the NVIDIA Llama Nemotron Reason open reasoning model. NVIDIA Llama Nemotron Reason is a powerful AI model family designed for advanced reasoning.

Epic, a leading electronic health record company, is planning to take advantage of the latest integration of NVIDIA NIM on Azure AI Foundry, improving AI applications to deliver better healthcare and patient results.

The launch of NVIDIA NIM microservices in Azure AI Foundry offers a secure and efficient way for Epic to deploy open-source generative AI models that improve patient care, boost clinician and operational efficiency, and uncover new insights to drive medical innovation. In collaboration with UW Health and UC San Diego Health, we’re also researching methods to evaluate clinical summaries with these advanced models. Together, we’re using the latest AI technology in ways that truly improve the lives of clinicians and patients.

Drew McCombs, VP Cloud and Analytics, Epic

Further, Microsoft is also working closely with NVIDIA to optimize inference performance for popular, open-source language models and ensure they are available on Azure AI Foundry so customers can take full advantage of the performance and efficiency benefits from foundation models. The newest addition of this collaboration is the performance optimization for Meta Llama models using TensorRT-LLM. Developers can now use the optimized Llama models from the model catalog in Azure AI Foundry to experience improvements in throughput without additional steps.

“At Synopsys, we rely on cutting-edge AI models to drive innovation, and the optimized Meta Llama models on Azure AI Foundry have delivered exceptional performance. We’ve seen substantial improvements in both throughput and latency, allowing us to accelerate our workloads while optimizing costs. These advancements make Azure AI Foundry an ideal platform for scaling AI applications efficiently.”

Arun Venkatachar, VP Engineering, Synopsys Central Engineering

At the same time, Microsoft is excited to be expanding its model catalog in Azure AI Foundry even further with the addition of Mistral Small 3.1, an enhanced version of Mistral Small 3, featuring multimodal capabilities and an extended context length of up to 128k.

Microsoft is also announcing the general availability of Azure Container Apps serverless graphics processing units (GPUs) with support for NVIDIA NIM. Serverless GPUs allow enterprises, startups, and software development companies to seamlessly run AI workloads on-demand with automatic scaling, optimized cold start, and per-second billing with scale down to zero when not in use to reduce operational overhead. With the support of NVIDIA NIM, development teams can easily build and deploy generative AI applications alongside existing applications within the same networking, security, and isolation boundary.

Expanding Azure AI Infrastructure with NVIDIA

The evolution of reasoning models and agentic AI systems is transforming the artificial intelligence landscape. Robust and purpose-built infrastructure is key to their success. Today, Microsoft is excited to announce the general availability of Azure ND GB200 V6 virtual machine (VM) series accelerated by NVIDIA GB200 NVL72 and NVIDIA Quantum InfiniBand networking. This addition to the Azure AI Infrastructure portfolio, alongside existing virtual machines that use NVIDIA H200 and NVIDIA H100 GPUs, highlight Microsoft’s commitment to optimizing infrastructure for the next wave of complex AI tasks like planning, reasoning, and adapting in real-time.

As we push the boundaries of AI, our partnership with Azure and the introduction of the NVIDIA Blackwell platform represent a significant leap forward. The NVIDIA GB200 NVL72, with its unparalleled performance and connectivity, tackles the most complex AI workloads, enabling businesses to innovate faster and more securely. By integrating this technology with Azure’s secure infrastructure, we are unlocking the potential of reasoning AI.

Ian Buck, Vice President of Hyperscale and HPC, NVIDIA

The combination of high-performance NVIDIA GPUs with low-latency NVIDIA InfiniBand networking and Azure’s scalable architectures are essential to handle the new massive data throughput and intensive processing demands. Furthermore, comprehensive integration of security, governance, and monitoring tools from Azure supports powerful, trustworthy AI applications that comply with regulatory standards.

Built with Microsoft’s custom infrastructure system and the NVIDIA Blackwell platform, at the datacenter level each blade features two NVIDIA GB200 Grace Blackwell Superchips and NVIDIA NVLink Switch scale-up networking, which supports up to 72 NVIDIA Blackwell GPUs in a single NVLink domain. Additionally, it incorporates the latest NVIDIA Quantum InfiniBand, allowing for scaling out to tens of thousands of Blackwell GPUs on Azure, providing two times the AI supercomputing performance from previous GPU generations based on GEMM benchmark analysis.

As Microsoft’s work with NVIDIA continues to grow and shape the future of AI, the company also looks forward to bringing the performance of NVIDIA Blackwell Ultra GPUs and the NVIDIA RTX PRO 6000 Blackwell Server Edition to Azure. Microsoft is set to launch the NVIDIA Blackwell Ultra GPU-based VMs later in 2025. These VMs promise to deliver exceptional performance and efficiency for the next wave of agentic and generative AI workloads.

Azure AI’s infrastructure, advanced by NVIDIA accelerated computing, consistently delivers high performance at scale for AI workloads as evidenced by leading industry benchmarks like Top500 supercomputing and MLPerf results.^1,2 Recently, Azure Virtual Machines using NVIDIA’s H200 GPUs achieved exceptional performance in the MLPerf Training v4.1 benchmarks across various AI tasks. Azure demonstrated leading cloud performance by scaling 512 H200 GPUs in a cluster, achieving a 28% speedup over H100 GPUs in the latest MLPerf training runs by MLCommons.³ This highlights Azure’s ability to efficiently scale large GPU clusters. Microsoft is excited that customers are utilizing this performance on Azure to train advanced models and get efficiency for generative inferencing.

Empowering businesses with Azure AI Infrastructure

Meter is training a large foundation model on Azure AI Infrastructure to automate networking end-to-end. The performance and power of Azure will significantly scale Meter’s AI training and inference, aiding in the development of models with billions of parameters across text-based configurations, time-series telemetry, and structured networking data. With support from Microsoft, Meter’s models aim to improve how networks are designed, configured, and managed—addressing a significant challenge for progress.

Black Forest Labs, a generative AI start-up with the mission to develop and advance state-of-the-art deep learning models for media, has extended its partnership with Azure. Azure AI services infrastructure is already being used to deploy its flagship FLUX models, the world’s most popular text-to-image media models, serving millions of high-quality images everyday with unprecedented speed and creative control. Building on this foundation, Black Forest Labs will adopt the new ND GB200 v6 VMs to accelerate the development and deployment of its next-gen AI models, pushing the boundaries of innovation in generative AI for media. Black Forest Labs has been a Microsoft partner since its inception, working together to secure the most advanced, efficient, and scalable infrastructure for training and delivering its frontier models.

We are expanding our partnership with Microsoft Azure to combine BFL’s unique research expertise in generative AI with Azure’s powerful infrastructure. This collaboration enables us to build and deliver the best possible image and video models faster and at greater scale, providing our customers with state-of-the-art visual AI capabilities for media production, advertising, product design, content creation and beyond.

Robin Rombach, CEO, Black Forest Labs

Creating new possibilities for innovators across industries

Microsoft and NVIDIA have launched preconfigured NVIDIA Omniverse and NVIDIA Isaac Sim virtual desktop workstations, and Omniverse Kit App Streaming, on the Azure marketplace. Powered by Azure Virtual Machines using NVIDIA GPUs, these offerings provide developers everything they need to get started developing and self-deploying digital twin and robotics simulation applications and services for the era of physical AI. Several Microsoft and NVIDIA ecosystem partners including Bright Machines, Kinetic Vision, Sight Machine, and SoftServe are adopting these capabilities to build solutions that will enable the next wave of digitalization for the world’s manufacturers.

There are many innovative solutions built by AI startups on Azure. Opaque Systems helps customers safeguard their data using confidential computing; Faros AI provides software engineering insights, allowing customers to optimize resources and enhance decision-making, including measuring the ROI of their AI coding assistants; Bria AI provides a visual generative AI platform that allows developers to use AI image generation responsibly, providing cutting-edge models trained exclusively on fully-licensed datasets; Pangaea Data is delivering better patient outcomes by enhancing screening and treatment at the point of care; and Basecamp Research is driving biodiversity discovery with AI and extensive genomic datasets.

Experience the latest innovations from Azure and NVIDIA

Today’s announcements at the NVIDIA GTC AI Conference underscore Azure’s commitment to pushing the boundaries of AI innovations. With state-of-the-art products, deep collaboration, and seamless integrations, we continue to deliver the technology that supports and empowers developers and customers in designing, customizing, and deploying their AI solutions efficiently. Learn more at this year’s event and explore the possibilities that NVIDIA and Azure hold for the future.
- Visit us at Booth 514 at NVIDIA GTC.
Sources:

¹November 2024 | TOP500

²Benchmark Work | Benchmarks MLCommons

³Leading AI Scalability Benchmarks with Microsoft Azure – Signal65
MIL OSI Economics –
March 19, 2025
MIL-OSI United Nations: Resumed Hostilities, Blocked Aid Destroying Ceasefire Gains in Gaza, Security Council Hears

Source: United Nations General Assembly and Security Council

As Israel resumes airstrikes over Gaza and blocks entry of humanitarian aid into the Strip, the modest gains made during the ceasefire are being destroyed, Tom Fletcher, Under-Secretary-General for Humanitarian Affairs and Emergency Relief Coordinator, told the Security Council today.

“Overnight, our worst fears materialized,” he added, noting unconfirmed reports of hundreds of people killed on 17 March. Recalling his recent visit to the Occupied Palestinian Territory and Israel in February, he said that — despite the devastation he saw — “my trip coincided with some of Gaza’s better days” because a ceasefire was in place and humanitarians were delivering hundreds of trucks every day. “Not anymore,” he reported.

Since 2 March, Israeli authorities have halted the entry of all lifesaving supplies, including food, medicine, fuel and cooking gas, for 2.1 million people. Repeated requests to collect aid sitting at the Karem Shalom border crossing have also been systematically rejected, no further hostages have been released and Israel has cut power to southern Gaza’s desalination plant, limiting access to clean water for 600,000 people.

Further, international staff of the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA) are no longer able to rotate into and out of Gaza due to recent Knesset legislation. He also highlighted new registration rules for international non-governmental organizations, as well as a law under consideration to impose high taxes on donations from third States to Israeli humanitarian and human-rights groups.

Also pointing to the urgent crisis in the West Bank, he said that 95 Palestinians have been killed, including 17 children, since the start of 2025. Additionally, Israeli military operations in the northern West Bank have displaced 40,000 Palestinians, while hundreds of Israeli settlers have launched large-scale attacks on Palestinian villages. Outlining three urgent asks, he called on the Council to enable the entry of humanitarian aid and commercial essentials into Gaza, renew the ceasefire and fund the humanitarian response.

Palestine Says Death Returns to Gaza, Israel Says Hamas Responsible

The Permanent Observer for the State of Palestine, noting that this meeting was initially called to discuss Gaza’s humanitarian situation, added: “Now we gather here after a series of deadly Israeli attacks that killed, last night alone, hundreds of Palestinians.” Bombardment, death, devastation, fire and fear are yet again spreading throughout Gaza, he said.

“Ceasefire works — it is the only thing that does,” he stressed, stating that it stopped the bloodshed, allowed the release of hostages and prisoners and enabled the delivery of humanitarian aid. Unilateral, self-serving and irresponsible decisions cannot be used as excuses for breaking it. “While the Trump Administration has prioritized the release of hostages, it is evident that [Prime Minister of Israel Benjamin] Netanyahu’s concern for his political survival far outweighs his concern for the survival of the hostages,” he added.

The Arab Summit endorsed a clear vision and a solid plan for a different trajectory for Gaza and Palestine — “these efforts should be supported, not compromised and sabotaged”, he urged. The international community must also support the Palestinian Government’s assumption of its responsibilities throughout the Occupied Palestinian Territory, the deployment of a UN-mandated mission throughout the Territory, a permanent ceasefire and the two-State solution. “This is a historical moment, where everyone must choose where they stand and what vision they want to see prevail,” he said.

However, Israel’s representative stressed that “the return to fighting is a necessity”, reaffirming his country’s commitment to bring home its hostages and defeat Hamas. Hamas has refused to release hostages and has repeatedly rejected all offers by the United States and mediating countries — even during Ramadan — he said, spotlighting the Israel Defense Forces’ precise attacks on Hamas targets.

For months, Israel took unprecedented steps to facilitate humanitarian aid into Gaza, he asserted, adding that these efforts are “not speculation, not political rhetoric”; they are “documented, verifiable and confirmed by the organizations distributing and supplying the aid”. The hostages still held in brutal captivity by Hamas should be paramount for those truly concerned about humanitarian crises, he said, adding: “Any discussion of humanitarian suffering that does not begin with the hostage release is not an honest discussion.”

“The slander that the people of Gaza are currently starving is quite simply untrue,” he continued, stating that “claims that electricity cut-off has plunged Gaza into humanitarian collapse are greatly exaggerated”. Rather, any suffering in Gaza is due to Hamas’ hijacking of aid for its violent ends. Pointing to certain Council members’ efforts to malign Israel, he stressed: “If this Council wishes to address suffering, then it must demand the immediate and unconditional release of the hostages.”

Some Council Members Also Point to Hamas

Along similar lines, the representative of United States emphasized that the blame for resumed hostilities lies solely with Hamas, which has steadfastly refused “every proposal and deadline they’ve been presented”. Hamas prefers to hold hostages captive and hide amongst the people of Gaza, she said, dismissing the allegation of indiscriminate attacks by the Israel Defense Forces. Underlining the need to tackle Iran’s “malign influence and State sponsorship of terror”, she said that Middle Eastern countries have an “historic opportunity to reshape their region”.

Echoing that, Panama’s delegate said that the suffering in Gaza is the direct consequence of Hamas’ extremist actions, “which unleashed this tragic spiral of violence”. He, too, condemned Hamas’ current refusal to meet the commitments agreed upon and release additional hostages.

France’s representative highlighted the international conference to be held in June, chaired by his country and Saudi Arabia, on the implementation of the two-State solution. The reconstruction plan for Gaza put forward by the Arab League must exclude Hamas from Gaza’s governance, he said. “The terrorist attacks committed by Hamas and other terrorist groups on 7 October 2023 constitute the worst anti-Semitic massacre since the Shoah”, and he therefore reaffirmed France’s solidarity with the Israeli people.

Others Point to Israel’s Responsibility as Occupying Power

Algerians understand the cruelty of occupation “because we endured it for over 130 years”, that country’s delegate recalled. “This deliberate blockade, timed to coincide with the holy month of Ramadan, is a calculated effort to break the resilience of the Palestinian people,” he stressed. Further, he observed that “the Israeli occupying Power is using water — yes, water — as a weapon of war.” Once again, Palestinian blood has become a tool for the calculations of Israeli politicians, and he called on mediator countries to ensure compliance with the ceasefire.

Blocking trucks, cutting off electricity, mistreating non-governmental organizations, preventing Muslims from accessing the Aqsa Mosque compound — “these are all tactics of the oppressor”, stated Pakistan’s representative. The manner in which the Council and the international community respond to such atrocities will have a lasting impact on the nature of the world order. He also pointed out that international humanitarian law prohibits targeting military targets in civilian facilities.

The Republic of Korea’s representative said that Hamas’ refusal to carry out its obligations does not justify blocking humanitarian aid or using it as a bargaining chip. He cited Under-Secretary-General Fletcher’s remarks during a 12 March press briefing: “I said to my colleague: Why are the dogs so fat? And he said: Because the dogs are looking for corpses.” Israel must immediately cease its offensive, he stressed, urging all parties to return to the negotiating table.

The representative of Denmark, Council President for March, spoke in her national capacity to spotlight Israel’s obligation, as the occupying Power, to ensure that the civilian population does not lack food or other basic needs, including water. Sierra Leone’s delegate also noted that Israel, as the occupying Power, has obligations under the Fourth Geneva Convention and international humanitarian law.

They, along with the representatives of the United Kingdom and China, were among the many speakers who underscored the need for an immediate ceasefire. Somalia’s speaker, expressing concern that Israeli strikes in Gaza were taking place during the Muslim holy month of Ramadan, also said that worshipers at the Aqsa Mosque compound must be able to freely and safely perform their religious rituals. The Russian Federation’s delegate warned against delays, noting that many have died because of the Council’s earlier inability to decide on a ceasefire.

Several speakers condemned Israel’s decision to halt humanitarian aid into Gaza. “This decision is illegal,” emphasized Guyana’s representative, who also highlighted the impact on women — many have died from complications related to pregnancy and childbirth because of the restrictions. She also noted the 13 March report of the independent international commission of inquiry on the Occupied Palestinian Territory, which points to Israel’s systematic use of sexual, reproductive and other forms of gender-based violence since 7 October 2023.

Slovenia’s representative, noting that it is roughly one year since the International Court of Justice issued provisional measures relating to humanitarian aid, famine and starvation in the case brought forward by South Africa, said that it is unacceptable that “our conversations are still the same”.

Greece’s delegate added that UNRWA’s role is indispensable with millions in urgent need of primary health services, education and shelter. “War has not left the next generation in Gaza untouched,” he said, noting that thousands of children died, were injured or separated from their families and internally displaced. The unhindered and continuous flow of aid into all parts of Gaza should remain a priority, and he also voiced support for the Arab plan put forth by Egypt.

Also speaking today was the Permanent Observer of the League of Arab States, who urged implementation of the first phase of that plan, adopted during an Arab League meeting in Cairo and later endorsed by a ministerial meeting of the Organization of Islamic Cooperation (OIC). He also urged the Council to activate international oversight mechanisms to guarantee the safe and sustainable delivery of aid and ensure the protection of Palestinian civilians.

MIL OSI United Nations News –

March 19, 2025

MIL-OSI: Purpose Investments Inc. Announces Payouts Relating to the Termination of Purpose Marijuana Opportunities Fund

Source: GlobeNewswire (MIL-OSI)

TORONTO, March 18, 2025 (GLOBE NEWSWIRE) — Purpose Investments Inc. (“Purpose”) announced today additional information regarding the termination of Purpose Marijuana Opportunities Fund (the “Fund”), which was announced on December 27, 2024.

On March 14, 2025, Purpose redeemed all of the issued and outstanding ETF shares, Series A shares and Series F shares of Purpose Marijuana Opportunities Fund. The ETF shares of Purpose Marijuana Opportunities Fund were voluntarily delisted from the CBOE Exchange at the close of business on March 12, 2025.

Fund securityholders will receive the following amounts on or about March 18, 2025, in connection with the termination of the Fund. No action is required to be taken by securityholders to receive such amounts. Purpose confirms that there are no distributions of income or capital gains included in the redemption amount.

Fund	Class / Series of share/unit	Ticker / FundSERV	Redemption Amount (per Share)¹
Purpose Marijuana Opportunities Fund	ETF Shares	MJJ	$2.6593
	Series A Shares	PFC4200	$2.4573
	Series F Shares	PFC4201	$2.6787

¹In Canadian Dollars (CAD) unless stated otherwise.

About Purpose Investments

Purpose Investments is an asset management company with over $23 billion in assets under management. Purpose Investments has an unrelenting focus on client-centric innovation and offers a range of managed and quantitative investment products. Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Unlimited, an independent technology-driven financial services company.

For further information, please email us at info@purposeinvest.com

Media inquiries:
Keera Hart
keera.hart@kaiserpartners.com
905-580-1257

Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. The prospectus contains important detailed information about the investment fund. Please read the prospectus before investing. There is no assurance that any fund will achieve its investment objective, and its net asset value, yield, and investment return will fluctuate from time to time with market conditions. Investment funds are not guaranteed, their values change frequently, and past performance may not be repeated.

The MIL Network –

March 19, 2025

MIL-OSI: LexinFintech Holdings Ltd. Reports Fourth Quarter and Full Year 2024 Unaudited Financial Results

Source: GlobeNewswire (MIL-OSI)

SHENZHEN, China, March 18, 2025 (GLOBE NEWSWIRE) — LexinFintech Holdings Ltd. (“Lexin” or the “Company”) (NASDAQ: LX), a leading technology-empowered personal financial service enabler in China, today announced its unaudited financial results for the quarter ended December 31, 2024.

Mr. Jay Wenjie Xiao, Chairman and Chief Executive Officer of Lexin, commented, “The company remains committed to its prudent operating strategy and has achieved solid progress in its transformation, with key performance indicators showing continuous improvement.

For the fourth quarter, net income was RMB363 million, representing an increase of about 17% quarter-over-quarter, marking the fourth consecutive quarter of improved profitability. Total loan origination reached RMB52 billion, representing approximately a 2% quarter-over-quarter increase, and outstanding loan balance stood at RMB110 billion, all in line with our guidance.

As we advanced our risk management upgrading, we were pleased to see a continuous improvement in asset quality, evidenced by the decline in risk indicators of both newly originated and overall assets. This consistent enhancement in asset quality, along with ongoing operational refinements, has contributed to our sustainable profit growth.

Looking ahead to 2025, in light of the current macroeconomic and industry landscape, we will adhere to our prudent operating strategy, prioritizing asset quality and focusing on profitability enhancement. With this approach, we expect to sustain steady growth in our performance.

In accordance with our semi-annual dividend policy, the board of directors has approved a dividend of US$0.11 per ADS, representing 20% of net income from the second half of 2024. Effective from January 1, 2025, our cash dividend payout ratio will be raised to 25% of net income.”

Mr. James Zheng, Chief Financial Officer of Lexin, commented, “Building upon the solid foundation of the third quarter, we recorded a net income of RMB363 million in the fourth quarter, representing a 17% increase compared to last quarter and 54% increase compared to the net income adjusted for the investment losses in the same period last year, further extending our stable growth trajectory. The net income take rate, calculated as net income divided by the average loan balance, increased from 1.09% in the third quarter to 1.31% in the fourth quarter of 2024, advancing by 22 basis points.”

“Driven by the ongoing optimization of asset quality, further reduction in funding costs, a more balanced revenue mix, and improvement in customer acquisition efficiency, our revenue take rate and net income have continued to improve.”

“Having achieved substantial progress in our transformation, we will continue to execute our prudent operating strategy. Looking ahead, we expect flat to single-digit growth of total loan origination in 2025 in view of the macroeconomic conditions, alongside a significant year-over-year increase in net income driven by margin expansion.”

Fourth Quarter and Full Year 2024 Operational Highlights:

User Base

Total number of registered users reached 228 million as of December 31, 2024, representing an increase of 8.6% from 210 million as of December 31, 2023, and users with credit lines reached 45.1 million as of December 31, 2024, up by 6.8% from 42.3 million as of December 31, 2023.
Number of active users¹ who used our loan products in the fourth quarter of 2024 was 4.7 million, representing a decrease of 0.7% from 4.7 million in the fourth quarter of 2023. Number of active users¹ who used our loan products in 2024 was 8.2 million, representing a decrease of 4.3% from 8.5 million in 2023.
Number of cumulative borrowers with successful drawdown was 33.8 million as of December 31, 2024, an increase of 7.1% from 31.5 million as of December 31, 2023.

Loan Facilitation Business

As of December 31, 2024, we cumulatively originated RMB1,325.1 billion in loans, an increase of 19.1% from RMB1,113.1 billion as of December 31, 2023.
Total loan originations² in the fourth quarter of 2024 was RMB52.0 billion, a decrease of 15.2% from RMB61.2 billion in the fourth quarter of 2023. Total loan originations² in 2024 was RMB212 billion, a decrease of 15.0% from RMB250 billion in 2023.
Total outstanding principal balance of loans³ reached RMB110 billion as of December 31, 2024, representing a decrease of 11.1% from RMB124 billion as of December 31, 2023.

Credit Performance⁴

90 day+ delinquency ratio was 3.6% as of December 31, 2024, as compared with 3.7% as of September 30, 2024.
First payment default rate (30 day+) for new loan originations was below 1% as of December 31, 2024.

Tech-empowerment Service

For the fourth quarter of 2024, we served over 100 business customers with our tech-empowerment service.
In the fourth quarter of 2024, the business customer retention rate⁵ of our tech-empowerment service was over 80%.

Installment E-commerce Platform Service

GMV⁶ in the fourth quarter of 2024 for our installment e-commerce platform service was RMB969 million, representing a decrease of 25.0% from RMB1,292 million in the fourth quarter of 2023. GMV⁶ in 2024 for our installment e-commerce platform service was RMB3,633 million, representing a decrease of 31.3% from RMB5,289 million in 2023.
In the fourth quarter of 2024, our installment e-commerce platform service served over 280,000 users and 400 merchants.

Other Operational Highlights

The weighted average tenor of loans originated on our platform in the fourth quarter of 2024 was approximately 13.1 months, as compared with 12.3 months in the fourth quarter of 2023. The weighted average tenor of loans originated on our platform in 2024 was approximately 12.9 months, as compared with 13.8 months in 2023.
Repeated borrowers’ contribution⁷ of loans across our platform for the fourth quarter of 2024 was 85.3%. Repeated borrowers’ contribution⁷ of loans across our platform for 2024 was 85.7%.

Fourth Quarter 2024 Financial Highlights:

Total operating revenue was RMB3,659 million, representing an increase of 4.3% from the fourth quarter of 2023.
Credit facilitation service income was RMB2,712 million, representing a decrease of 0.5% from the fourth quarter of 2023. Tech-empowerment service income was RMB602 million, representing an increase of 41.0% from the fourth quarter of 2023. Installment e-commerce platform service income was RMB345 million, representing a decrease of 2.9% from the fourth quarter of 2023.
Net income attributable to ordinary shareholders of the Company was RMB363 million, representing an increase of over 100% from the fourth quarter of 2023. Net income per ADS attributable to ordinary shareholders of the Company was RMB2.06 on a fully diluted basis.
Adjusted net income attributable to ordinary shareholders of the Company⁸ was RMB391 million, representing an increase of 37.7% from the fourth quarter of 2023. Adjusted net income per ADS attributable to ordinary shareholders of the Company⁸ was RMB2.22 on a fully diluted basis.

Full Year 2024 Financial Highlights:

Total operating revenue was RMB14,204 million, representing an increase of 8.8% from 2023.
Credit facilitation service income was RMB11,000 million, representing an increase of 13.8% from 2023. Tech-empowerment service income was RMB1,881 million, representing an increase of 14.7% from 2023. Installment e-commerce platform service income was RMB1,322 million, representing a decrease of 24.5% from 2023.
Net income attributable to ordinary shareholders of the Company was RMB1,100 million, representing an increase of 3.2% from 2023. Net income per ADS attributable to ordinary shareholders of the Company was RMB6.49 on a fully diluted basis.
Adjusted net income attributable to ordinary shareholders of the Company⁸ was RMB1,203 million, representing a decrease of 19.0% from 2023. Adjusted net income per ADS attributable to ordinary shareholders of the Company⁸ was RMB7.09 on a fully diluted basis.

__________________________

Active users refer to, for a specified period, users who made at least one transaction during that period through our platform or through our third-party partners’ platforms using the credit line granted by us.
Total loan originations refer to the total principal amount of loans facilitated and originated during the given period.
Total outstanding principal balance of loans refers to the total amount of principal outstanding for loans facilitated and originated at the end of each period, excluding loans delinquent for more than 180 days.
Loans under Intelligent Credit Platform are excluded from the calculation of credit performance. Intelligent Credit Platform (ICP) is an intelligent platform on our “Fenqile” app, under which we match borrowers and financial institutions through big data and cloud computing technology. For loans facilitated through ICP, the Company does not bear principal risk.
Customer retention rate refers to the number of financial institution customers and partners who repurchase our service in the current quarter as a percentage of the total number of financial institution customers and partners in the preceding quarter.
GMV refers to the total value of transactions completed for products purchased on our e-commerce and Maiya channel, net of returns.
Repeated borrowers’ contribution for a given period refers to the principal amount of loans borrowed during that period by borrowers who had previously made at least one successful drawdown as a percentage of the total loan facilitation and origination volume through our platform during that period.
Adjusted net income attributable to ordinary shareholders of the Company, adjusted net income per ordinary share and per ADS attributable to ordinary shareholders of the Company are non-GAAP financial measures. For more information on non-GAAP financial measures, please see the section of “Use of Non-GAAP Financial Measures Statement” and the tables captioned “Unaudited Reconciliations of GAAP and Non-GAAP Results” set forth at the end of this press release.

Fourth Quarter 2024 Financial Results:

Operating revenue increased by 4.3% from RMB3,509 million in the fourth quarter of 2023 to RMB3,659 million in the fourth quarter of 2024.

Credit facilitation service income was RMB2,712 million in the fourth quarter of 2024 as compared to RMB2,727 million in the fourth quarter of 2023. The decrease was driven by the decrease in guarantee income, partially offset by the increases in loan facilitation and servicing fees-credit oriented and financing income.

Loan facilitation and servicing fees-credit oriented increased by 4.2% from RMB1,559 million in the fourth quarter of 2023 to RMB1,624 million in the fourth quarter of 2024. The increase was primarily driven by the increase in takerate of loan facilitation business.

Guarantee income decreased by 18.6% from RMB709 million in the fourth quarter of 2023 to RMB577 million in the fourth quarter of 2024. The decrease was primarily due to the decrease of outstanding balances in the off-balance sheet loans funded by certain institutional funding partners, which are accounted for under ASC 460, Guarantees.

Financing income increased by 11.2% from RMB459 million in the fourth quarter of 2023 to RMB510 million in the fourth quarter of 2024. The increase was primarily driven by the increase in the origination of on-balance sheet loans.

Tech-empowerment service income increased by 41.0% from RMB427 million in the fourth quarter of 2023 to RMB602 million in the fourth quarter of 2024. The increase was primarily driven by the increase of loan facilitation volume through ICP.

Installment e-commerce platform service income was RMB345 million in the fourth quarter of 2024, as compared to RMB356 million in the fourth quarter of 2023.

Cost of sales was RMB353 million in the fourth quarter of 2024, as compared to RMB344 million in the fourth quarter of 2023.

Funding cost decreased by 24.6% from RMB76.2 million in the fourth quarter of 2023 to RMB57.5 million in the fourth quarter of 2024, which was primarily driven by the decrease in the cost of funding to fund the on-balance sheet loans.

Processing and servicing costs increased by 13.4% from RMB514 million in the fourth quarter of 2023 to RMB583 million in the fourth quarter of 2024. This increase was primarily due to an increase in risk management and collection expenses.

Provision for financing receivables was RMB297 million for the fourth quarter of 2024, as compared to RMB180 million for the fourth quarter of 2023. The increase was primarily due to the increase of the outstanding loan balances of on-balance sheet loans.

Provision for contract assets and receivables was RMB154 million in the fourth quarter of 2024, as compared to RMB203 million in the fourth quarter of 2023. The decrease was primarily driven by the decrease of the outstanding loan balances of off-balance sheet loans.

Provision for contingent guarantee liabilities was RMB941 million in the fourth quarter of 2024, as compared to RMB934 million in the fourth quarter of 2023.

Gross profit was RMB1,274 million in the fourth quarter of 2024, as compared to RMB1,258 million in the fourth quarter of 2023.

Sales and marketing expenses was RMB464 million in the fourth quarter of 2024, as compared to RMB430 million in the fourth quarter of 2023. This increase was primarily due to an increase in online advertising costs.

Research and development expenses was RMB151 million in the fourth quarter of 2024, as compared to RMB136 million in the fourth quarter of 2023. The increase was primarily due to increased investment in technology development.

General and administrative expenses decreased by 12.0% from RMB108 million in the fourth quarter of 2023 to RMB95.3 million in the fourth quarter of 2024, primarily as a result of the Company’s expense control measures.

Change in fair value of financial guarantee derivatives and loans at fair value was a loss of RMB144 million in the fourth quarter of 2024, as compared to a loss of RMB248 million in the fourth quarter of 2023. The change was primarily due to the fair value loss from the re-measurement of the expected loss rates, partially offset by the fair value gains realized as a result of the release of guarantee obligation.

Income tax expense was RMB67.6 million in the fourth quarter of 2024, as compared to income tax benefit of RMB9.7 million in the fourth quarter of 2023. The change was primarily due to the increase of income before income tax expense.

Net income increased over 100% from RMB12.1 million in the fourth quarter of 2023 to RMB363 million in the fourth quarter of 2024.

Full Year 2024 Financial Results:

Operating revenue increased by 8.8% from RMB13,057 million in 2023 to RMB14,204 million in 2024.

Credit facilitation service income increased by 13.8% from RMB9,666 million in 2023 to RMB11,000 million in 2024. The increase was driven by the increases in loan facilitation and servicing fees-credit oriented and guarantee income, partially offset by the decrease in financing income.

Loan facilitation and servicing fees-credit oriented increased by 26.5% from RMB5,002 million in 2023 to RMB6,326 million in 2024. The increase was primarily due to the increase in takerate of loan facilitation business.

Guarantee income increased by 5.7% from RMB2,519 million in 2023 to RMB2,664 million in 2024. The increase was primarily due to the increase in cumulative loan origination funded by certain institutional funding partners, which are accounted for under ASC 460, Guarantees.

Financing income decreased by 6.3% from RMB2,145 million in 2023 to RMB2,010 million in 2024. The decrease was primarily due to the decrease in the origination of on-balance sheet loans.

Tech-empowerment service income increased by 14.7% from RMB1,640 million in 2023 to RMB1,881 million in 2024. The increase was primarily due to the increase of loan facilitation volume through ICP.

Installment e-commerce platform service income decreased by 24.5% from RMB1,751 million in 2023 to RMB1,322 million in 2024. The decrease was primarily due to the decrease in transaction volume in 2024.

Cost of sales decreased by 19.3% from RMB1,636 million in 2023 to RMB1,320 million in 2024, which was consistent with the decrease in installment e-commerce platform service income.

Funding cost decreased by 36.5% from RMB514 million in 2023 to RMB326 million in 2024, which was primarily driven by the decrease in the cost of funding to fund the on-balance sheet loans.

Processing and servicing costs increased by 18.4% from RMB1,935 million in 2023 to RMB2,292 million in 2024. This increase was primarily due to an increase in risk management and collection expenses.

Provision for financing receivables was RMB866 million in 2024, as compared to RMB627 million in 2023. The increase was primarily due to the increase of the outstanding loan balances of on-balance sheet loans.

Provision for contract assets and receivables was RMB718 million in 2024, as compared to RMB629 million in 2023. The increase was primarily due to the increase of the outstanding loan balances of off-balance sheet loans.

Provision for contingent guarantee liabilities was RMB3,656 million in 2024, as compared to RMB3,203 million in 2023. The fluctuation was primarily due to the re-measurement of the expected loss rates, which are accounted for under ASC 460, Guarantees.

Gross profit increased by 11.4% from RMB4,513 million in 2023 to RMB5,026 million in 2024.

Sales and marketing expenses was RMB1,787 million in 2024, as compared to RMB1,733 million in 2023.

Research and development expenses was RMB578 million in the quarter of 2024, as compared to RMB513 million in 2023. The increase was primarily due to increased investment in technology development.

General and administrative expenses was RMB374 million in 2024, as compared to RMB387 million in 2023.

Change in fair value of financial guarantee derivatives and loans at fair value was a loss of RMB979 million in 2024, as compared to a loss of RMB206 million in 2023. The change was primarily due to the fair value loss from the re-measurement of the expected loss rates, partially offset by the fair value gains realized as a result of the release of guarantee obligation.

Income tax expense was RMB253 million in 2024, as compared to RMB261 million in 2023. The change was primarily due to the decrease of effective tax rate.

Net income increased by 3.2% from RMB1,066 million in 2023 to RMB1,100 million in the 2024.

Recent Development

Semi-Annual Dividend
The board of directors of the Company has approved a dividend of US$0.055 per ordinary share, or US$0.11 per ADS, for the six-month period ended December 31, 2024 in accordance with the Company’s dividend policy, which is expected to be paid on May 16, 2025 to shareholders of record (including holders of ADSs) as of the close of business on April 17, 2025 New York time.

Outlook
Looking ahead, while our performance continues to demonstrate positive momentum, we remain prudent in light of ongoing macroeconomic uncertainties. Therefore, for full year 2025, we expect total loan origination to have flat to single-digit year-on-year growth depending on the macroeconomic conditions, alongside a significant increase in net income driven by continuing improvement in asset quality. These forecasts are subject to the impact of macroeconomic factors, and the company may adjust its performance outlook as appropriate based on evolving circumstances.

Conference Call

The Company’s management will host an earnings conference call at 10:00 PM U.S. Eastern time on March 18, 2025 (10:00 AM Beijing/Hong Kong time on March 19, 2025).

Participants who wish to join the conference call should register online at:

https://register-conf.media-server.com/register/BI6702756dbdb741f9b401c583a37bd291

Once registration is completed, each participant will receive the dial-in number and a unique access PIN for the conference call.

Participants joining the conference call should dial in at least 10 minutes before the scheduled start time.

A live and archived webcast of the conference call will also be available at the Company’s investor relations website at http://ir.lexin.com.

About LexinFintech Holdings Ltd.

We are a leading credit technology-empowered personal financial service enabler. Our mission is to use technology and risk management expertise to make financing more accessible for young generation consumers. We strive to achieve this mission by connecting consumers with financial institutions, where we facilitate through a unique model that includes online and offline channels, installment consumption platform, big data and AI driven credit risk management capabilities, as well as smart user and loan management systems. We also empower financial institutions by providing cutting-edge proprietary technology solutions to meet their needs of financial digital transformation.

For more information, please visit http://ir.lexin.com.

To follow us on Twitter, please go to: https://twitter.com/LexinFintech.

Use of Non-GAAP Financial Measures Statement

In evaluating our business, we consider and use adjusted net income attributable to ordinary shareholders of the Company, non-GAAP EBIT, adjusted net income per ordinary share and per ADS attributable to ordinary shareholders of the Company, four non-GAAP measures, as supplemental measures to review and assess our operating performance. The presentation of the non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. We define adjusted net income attributable to ordinary shareholders of the Company as net income attributable to ordinary shareholders of the Company excluding share-based compensation expenses, interest expense associated with convertible notes, and investment income/(loss) and we define non-GAAP EBIT as net income excluding income tax expense, share-based compensation expenses, interest expense, net, and investment income/(loss).

We present these non-GAAP financial measures because they are used by our management to evaluate our operating performance and formulate business plans. Adjusted net income attributable to ordinary shareholders of the Company enables our management to assess our operating results without considering the impact of share-based compensation expenses, interest expense associated with convertible notes, and investment income/(loss). Non-GAAP EBIT, on the other hand, enables our management to assess our operating results without considering the impact of income tax expense, share-based compensation expenses, interest expense, net, and investment income/(loss). We also believe that the use of these non-GAAP financial measures facilitates investors’ assessment of our operating performance. These non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP.

These non-GAAP financial measures have limitations as an analytical tool. One of the key limitations of using adjusted net income attributable to ordinary shareholders of the Company and non-GAAP EBIT is that they do not reflect all items of income and expense that affect our operations. Share-based compensation expenses, interest expense associated with convertible notes, income tax expense, interest expense, net, and investment income/(loss) have been and may continue to be incurred in our business and are not reflected in the presentation of adjusted net income attributable to ordinary shareholders of the Company and non-GAAP EBIT. Further, these non-GAAP financial measures may differ from the non-GAAP financial information used by other companies, including peer companies, and therefore their comparability may be limited.

We compensate for these limitations by reconciling each of the non-GAAP financial measures to the most directly comparable U.S. GAAP financial measure, which should be considered when evaluating our performance. We encourage you to review our financial information in its entirety and not rely on a single financial measure.

Exchange Rate Information Statement

This announcement contains translations of certain RMB amounts into U.S. dollars (“US$”) at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from RMB to US$ were made at the rate of RMB7.2993 to US$1.00, the exchange rate set forth in the H.10 statistical release of the Federal Reserve Board on December 31, 2024. The Company makes no representation that the RMB or US$ amounts referred could be converted into US$ or RMB, as the case may be, at any particular rate or at all.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about Lexin’s beliefs and expectations, are forward-looking statements. These forward-looking statements can be identified by terminology such as “will,” “ expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Among other things, the expectation of the collection efficiency and delinquency, business outlook and quotations from management in this announcement, contain forward-looking statements. Lexin may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Lexin’s goal and strategies; Lexin’s expansion plans; Lexin’s future business development, financial condition and results of operations; Lexin’s expectation regarding demand for, and market acceptance of, its credit and investment management products; Lexin’s expectations regarding keeping and strengthening its relationship with borrowers, institutional funding partners, merchandise suppliers and other parties it collaborates with; general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Lexin’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Lexin does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For investor and media inquiries, please contact:

LexinFintech Holdings Ltd.
IR inquiries:
Will Tan
Tel: +86 (755) 3637-8888 ext. 6258
E-mail: willtan@lexin.com

Media inquiries:
Ruifeng Xu
Tel: +86 (755) 3637-8888 ext. 6993
E-mail: media@lexin.com

SOURCE LexinFintech Holdings Ltd.

LexinFintech Holdings Ltd. Unaudited Condensed Consolidated Balance Sheets
	As of
(In thousands)	December 31, 2023			December 31, 2024
	RMB			RMB			US$
ASSETS
Current Assets
Cash and cash equivalents		2,624,719			2,254,213			308,826
Restricted cash		1,433,502			1,638,479			224,471
Restricted term deposit and short-term investments		305,182			138,497			18,974
Short-term financing receivables, net⁽¹⁾		3,944,000			4,668,715			639,611
Short-term contract assets and receivables, net⁽¹⁾		6,112,981			5,448,057			746,381
Deposits to insurance companies and guarantee companies		2,613,271			2,355,343			322,681
Prepayments and other current assets		1,428,769			1,321,340			181,024
Amounts due from related parties		6,989			61,722			8,456
Inventories, net		33,605			22,345			3,061
Total Current Assets		18,503,018			17,908,711			2,453,485
Non-current Assets
Restricted cash		144,948			100,860			13,818
Long-term financing receivables, net⁽¹⁾		200,514			112,427			15,402
Long-term contract assets and receivables, net⁽¹⁾		599,818			317,402			43,484
Property, equipment and software, net		446,640			613,110			83,996
Land use rights, net		897,267			862,867			118,212
Long‑term investments		255,003			284,197			38,935
Deferred tax assets		1,232,092			1,540,842			211,094
Other assets		861,491			500,363			68,549
Total Non-current Assets		4,637,773			4,332,068			593,490
TOTAL ASSETS		23,140,791			22,240,779			3,046,975

LIABILITIES
Current liabilities
Accounts payable		49,801			74,443			10,199
Amounts due to related parties		2,958			10,927			1,497
Short‑term borrowings		502,013			690,772			94,635
Short‑term funding debts		3,483,196			2,754,454			377,359
Deferred guarantee income		1,538,385			975,102			133,588
Contingent guarantee liabilities		1,808,540			1,079,000			147,822
Accruals and other current liabilities		4,434,254			4,019,676			550,691
Convertible notes		505,450			–			–
Total Current Liabilities		12,324,597			9,604,374			1,315,791
Non-current Liabilities
Long-term borrowings		524,270			585,024			80,148
Long‑term funding debts		455,800			1,197,211			164,017
Deferred tax liabilities		75,340			91,380			12,519
Other long-term liabilities		50,702			22,784			3,121
Total Non-current Liabilities		1,106,112			1,896,399			259,805
TOTAL LIABILITIES		13,430,709			11,500,773			1,575,596
Shareholders’ equity:
Class A Ordinary Shares		199			205			31
Class B Ordinary Shares		41			41			7
Treasury stock		(328,764	)		(328,764	)		(45,040	)
Additional paid-in capital		3,204,961			3,314,866			454,134
Statutory reserves		1,106,579			1,178,309			161,428
Accumulated other comprehensive income		(13,545	)		(29,559	)		(4,050	)
Retained earnings		5,740,611			6,604,908			904,869
Total shareholders’ equity		9,710,082			10,740,006			1,471,379
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY		23,140,791			22,240,779			3,046,975

__________________________
(1) Short-term financing receivables, net of allowance for credit losses of RMB58,594 and RMB102,124 as of December 31, 2023 and December 31, 2024, respectively.

Short-term contract assets and receivables, net of allowance for credit losses of RMB436,136 and RMB409,590 as of December 31, 2023 and December 31, 2024, respectively.

Long-term financing receivables, net of allowance for credit losses of RMB3,087 and RMB1,820 as of December 31, 2023 and December 31, 2024, respectively.

Long-term contract assets and receivables, net of allowance for credit losses of RMB61,838 and RMB30,919 as of December 31, 2023 and December 31, 2024, respectively.

LexinFintech Holdings Ltd. Unaudited Condensed Consolidated Statements of Operations
	For the Three Months Ended December 31,								For the Year Ended December 31,
(In thousands, except for share and per share data)	2023		2024						2023			2024
	RMB		RMB			US$			RMB			RMB			US$
Operating revenue:
Credit facilitation service income	2,727,020			2,712,066			371,552			9,666,120			10,999,931			1,506,984
Loan facilitation and servicing fees-credit oriented	1,558,588			1,624,410			222,543			5,001,881			6,325,924			866,648
Guarantee income	709,422			577,168			79,072			2,519,284			2,663,824			364,942
Financing income	459,010			510,488			69,937			2,144,955			2,010,183			275,394
Tech-empowerment service income	426,882			601,693			82,432			1,640,453			1,881,376			257,747
Installment e-commerce platform service income	355,534			345,074			47,275			1,750,509			1,322,287			181,153
Total operating revenue	3,509,436			3,658,833			501,259			13,057,082			14,203,594			1,945,884
Operating cost
Cost of sales	(344,088	)		(352,749	)		(48,326	)		(1,635,635	)		(1,319,526	)		(180,774	)
Funding cost	(76,195	)		(57,471	)		(7,873	)		(513,869	)		(326,451	)		(44,724	)
Processing and servicing cost	(514,070	)		(583,119	)		(79,887	)		(1,935,016	)		(2,291,904	)		(313,990	)
Provision for financing receivables	(180,475	)		(296,741	)		(40,653	)		(627,061	)		(865,524	)		(118,576	)
Provision for contract assets and receivables	(202,677	)		(153,968	)		(21,094	)		(629,308	)		(718,413	)		(98,422	)
Provision for contingent guarantee liabilities	(933,854	)		(940,740	)		(128,881	)		(3,203,123	)		(3,655,548	)		(500,808	)
Total operating cost	(2,251,359	)		(2,384,788	)		(326,714	)		(8,544,012	)		(9,177,366	)		(1,257,294	)
Gross profit	1,258,077			1,274,045			174,545			4,513,070			5,026,228			688,590
Operating expenses:
Sales and marketing expenses	(429,573	)		(464,263	)		(63,604	)		(1,733,301	)		(1,787,299	)		(244,859	)
Research and development expenses	(135,837	)		(151,081	)		(20,698	)		(513,284	)		(578,243	)		(79,219	)
General and administrative expenses	(108,305	)		(95,335	)		(13,061	)		(387,387	)		(374,481	)		(51,304	)
Total operating expenses	(673,715	)		(710,679	)		(97,363	)		(2,633,972	)		(2,740,023	)		(375,382	)
Change in fair value of financial guarantee derivatives and loans at fair value	(247,526	)		(143,619	)		(19,676	)		(206,368	)		(979,234	)		(134,155	)
Interest expense, net	(10,245	)		(2,560	)		(351	)		(50,483	)		(9,007	)		(1,234	)
Investment loss	(302,128	)		(543	)		(74	)		(303,235	)		(2,417	)		(331	)
Others, net	(22,092	)		13,754			1,884			7,774			58,188			7,972
Income before income tax expense	2,371			430,398			58,965			1,326,786			1,353,735			185,460
Income tax benefit/(expense)	9,726			(67,649	)		(9,268	)		(260,841	)		(253,275	)		(34,699	)
Net income	12,097			362,749			49,697			1,065,945			1,100,460			150,761
Net income attributable to ordinary shareholders of the Company	12,097			362,749			49,697			1,065,945			1,100,460			150,761

Net income per ordinary share attributable to ordinary shareholders of the Company
Basic	0.04			1.09			0.15			3.24			3.32			0.45
Diluted	0.04			1.03			0.14			3.17			3.24			0.44

Net income per ADS attributable to ordinary shareholders of the Company
Basic	0.07			2.18			0.30			6.49			6.64			0.91
Diluted	0.07			2.06			0.28			6.34			6.49			0.89

Weighted average ordinary shares outstanding
Basic	329,297,640			333,182,976			333,182,976			328,523,952			331,403,936			331,403,936
Diluted	331,941,385			351,577,582			351,577,582			359,820,982			339,261,349			339,261,349

LexinFintech Holdings Ltd.
Unaudited Condensed Consolidated Statements of Comprehensive Income

For the Three Months Ended December 31,

For the Year Ended December 31,

(In thousands)

2023

2024

2023

2024

RMB

US$

RMB

US$

Net income

12,097

362,749

49,697

1,065,945

1,100,460

150,761

Other comprehensive income

Foreign currency translation adjustment, net of nil tax

27,841

642

7,297

(16,014

)

(2,194

)

Total comprehensive income

39,938

363,391

49,785

1,073,242

1,084,446

148,567

Total comprehensive income attributable to ordinary shareholders of the Company

39,938

363,391

49,785

1,073,242

1,084,446

148,567

LexinFintech Holdings Ltd. Unaudited Reconciliations of GAAP and Non-GAAP Results
	For the Three Months Ended December 31,							For the Year Ended December 31,
(In thousands, except for share and per share data)	2023			2024				2023			2024
	RMB			RMB		US$		RMB			RMB		US$
Reconciliation of Adjusted net income attributable to ordinary shareholders of the Company to Net income attributable to ordinary shareholders of the Company
Net income attributable to ordinary shareholders of the Company		12,097			362,749		49,697		1,065,945			1,100,460		150,761
Add: Share-based compensation expenses		32,959			27,244		3,732		117,852			94,623		12,963
Interest expense associated with convertible notes		11,943			–		–		73,807			5,695		780
Investment loss		302,128			543		74		303,235			2,417		331
Tax effects on Non-GAAP adjustments ⁽²⁾		(75,440	)		–		–		(75,440	)		–		–
Adjusted net income attributable to ordinary shareholders of the Company		283,687			390,536		53,503		1,485,399			1,203,195		164,835

Adjusted net income per ordinary share attributable to ordinary shareholders of the Company
Basic		0.86			1.17		0.16		4.52			3.63		0.50
Diluted		0.82			1.11		0.15		4.13			3.55		0.49

Adjusted net income per ADS attributable to ordinary shareholders of the Company
Basic		1.72			2.34		0.32		9.04			7.26		0.99
Diluted		1.64			2.22		0.30		8.26			7.09		0.97

Weighted average shares used in calculating net income per ordinary share for non-GAAP EPS
Basic		329,297,640			333,182,976		333,182,976		328,523,952			331,403,936		331,403,936
Diluted		345,913,435			351,577,582		351,577,582		359,820,982			339,261,349		339,261,349

Reconciliations of Non-GAAP EBIT to Net income
Net income		12,097			362,749		49,697		1,065,945			1,100,460		150,761
Add: Income tax (benefit)/expense		(9,726	)		67,649		9,268		260,841			253,275		34,699
Share-based compensation expenses		32,959			27,244		3,732		117,852			94,623		12,963
Interest expense, net		10,245			2,560		351		50,483			9,007		1,234
Investment loss		302,128			543		74		303,235			2,417		331
Non-GAAP EBIT		347,703			460,745		63,122		1,798,356			1,459,782		199,988

(2) To exclude the tax effects related to the investment loss

Additional Credit Information

Vintage Charge Off Curve¹

Dpd30+/GMV by Performance Windows¹

First Payment Default 30+¹

1. Loans facilitated under ICP are excluded from the chart.

The MIL Network –

March 19, 2025

MIL-OSI Australia: NAB welcomes more support for no-interest loans
Source: National Australia Bank
More Australians will be able to access no-interest loans thanks to a $48.7 million funding boost from the Federal Government for the No Interest Loans program (NILs).

The NILs program – delivered by Good Shepherd with capital provided by NAB – has already helped more than one million Australians with over $560 million in interest and fee free loans over the past 21 years.

NAB Executive Sustainability Jessica Forrest

NAB Executive Sustainability Jessica Forrest said NAB is proud to be the bank behind Australia’s longest standing no interest loans program, providing a safe and accessible way for people to borrow money when they need it the most.

“NILs is NAB’s longest-running community partnership, and we’re committed to ensuring more Australians can access credit for life’s essentials.

“This additional funding means even more people on lower incomes can get the support they need without the stress of interest charges or hidden fees.”

No-interest loans of up to $2,000 help cover household essentials like fridges, washing machines, and furniture, as well as education and medical expenses. NILs for Vehicles loans of up to $5,000 can be used for motor vehicles, mobility scooters, registration, and maintenance costs.

“These loans give people a safer alternative to high-cost payday loans and can also assist Australians escaping family, domestic and sexual violence – helping them with financial recovery and independence,” said Ms Forrest.

Notes to the Editor:

Individuals can apply for NILs at over 600 locations across Australia. They are available
to individuals and families who can service the loan and:
- earn less than $70,000 gross annually (before tax) as a single person or $100,000 gross (before tax)
  as a couple or person with dependants, or
- have experienced family or domestic violence in the last 10 years, or
- have a Health Care Card or Pension Card
More information about NILs is available on NAB’s website.
Topics

SEE ALL TOPICS

Media Enquiries

For all media enquiries, please contact the NAB Media Line on 03 7035 5015

MIL OSI News –
March 19, 2025
MIL-OSI USA: Cantwell Leads Seattle Doctors and Patients in Saying No to Medicaid Cuts
US Senate News:
Source: United States Senator for Washington Maria Cantwell
03.18.25

Cantwell Leads Seattle Doctors and Patients in Saying No to Medicaid Cuts

Cantwell releases second snapshot report featuring new data about Medicaid’s crucial role in keeping Seattle-area residents healthy

SEATTLE, WA – Today, U.S. Senator Maria Cantwell (D-WA), senior member of the Senate Finance Committee and ranking member of the Senate Committee on Commerce, Science, and Transportation, held a press conference with Seattle-area health care professionals and patients to discuss the harms that would result from proposed cuts to Medicaid.

“This is a tsunami of cuts coming at the people of Washington and the United States of America,” said Sen. Cantwell, “And I guarantee you this is not a drill.”

Whitney Stohr, advocate and mother of Malachi, who was born with spina bifida, spoke about Medicaid’s role in her son’s treatment: “While I was taking care of him in those early days in the hospital I knew that there was no way my family could afford the care. We couldn’t pay for it then, we couldn’t pay for it now – at least not without Medicaid.”

“For families like mine, for kids like Malachi, Medicaid is the lifeline,” Stohr added.

McKenzi Fish, a childhood cancer survivor and founder of Forever Fighters, who was covered by Medicaid during her fight against Hodgkin lymphoma as a teenager, said: ”Fourteen months of my treatments, scans, medications, and tests would have cost her [single mom] $500,000 … Cancer fighters endure many challenges emotionally, mentally, and physically during their fight. Financial worries and complications should not serve as an additional stress to an already exhausting struggle.”

“Cuts of the magnitude that are being discussed are existential for Harborview,” said Sommer Kleweno-Walley, CEO of Harborview Medical Center. “We simply could not exist as we do today if the proposals being discussed were to move forward.”

On February 25, House Republicans voted to advance President Trump’s budget resolution, which proposes up to an $880 billion cut from Medicaid.

Also today, Sen. Cantwell released a second snapshot report with new data showing the crucial role that Medicaid – known as Apple Health in Washington state – plays in funding Seattle-area health care.

Medicaid funded 22.6% of inpatient care and 18.1% of outpatient care at hospitals in Western Washington in 2023. Western Washington hospitals saw 623,549 Medicaid patients in 2023.

In the Federal Way, Burien, SeaTac, and Kent areas, more than 70% of children are enrolled in Apple Health (Medicaid in the State of Washington).

Medicaid is the largest payer at Seattle Children’s, accounting for over 50% of patients. 39% of Harborview’s revenue came from Medicaid in 2024.

The State of Washington ranks 51st in the nation in patient-to-bed ratio, at 1.6 beds per 1,000 residents. By causing likely closures of hospitals in rural areas, Medicaid cuts would worsen our state’s patient-to-bed ratio.

“We need everyone to call their member of Congress and the White House and say ‘this level of massive cuts to Medicaid is not what we want,’” said Sen. Cantwell.

Last month, Sen. Cantwell released a snapshot report highlighting the impact that slashing Medicaid to fund tax cuts for corporations and the ultra-wealthy would have on the health care system statewide.

That snapshot included new data on the percentage of Medicaid patients in each of the State of Washington’s U.S. congressional districts, as well as by region. In the 7^th Congressional District, 26% of children and 12% of adults are on Medicaid. In the 9^th Congressional District, 56% of children and 21% of adults are on Medicaid.

The other speakers at today’s event were Dr. Jason Deen, Associate Professor of Pediatrics and pediatric cardiologist at the University of Washington; Dr. Ettore Palazzo, CEO of Evergreen Health; and Yi-Hui Chi, Behavioral Health Director at Neighborcare Health. Their comments can be viewed on video.

Video of today’s entire press conference is HERE; video of Sen. Cantwell’s remarks is HERE; photos are HERE; and a transcript is HERE.
MIL OSI USA News –
March 19, 2025
MIL-Evening Report: As the rescued astronauts return, space law is still in orbit over who’s responsible when missions go wrong

Source: The Conversation (Au and NZ) – By Anna Marie Brennan, Senior Lecturer in Law, University of Waikato

Getty Images

Now back on Earth thanks to Space X’s Dragon capsule, astronauts Suni Williams and Butch Wilmore will be breathing fresh air again after a gruelling nine months onboard the International Space Station.

Stranded in June 2024 after their experimental Boeing Starliner spacecraft malfunctioned and was deemed too risky to carry passengers back to Earth, their stay was further extended last week when the recovery mission was postponed due to launchpad problems.

A successful rescue mission will be a relief to NASA, which had the unprecedented task of figuring out how to get the astronauts home. But the crisis has also raised difficult questions about space missions and what happens if they don’t go to plan.

This is complicated by civilians now going into space, including actor William Shatner and business tycoons Jeff Bezos and Richard Branson. Later this year, pop star Katy Perry and talk show host Gayle King will blast off on board Blue Origin’s NS-31 Mission.

Corporations such as SpaceX, Blue Origin, Rocket Lab and Virgin Galactic are increasingly at the forefront of the new space race, but they operate in a legal vacuum as well as an atmospheric one.

With the law not keeping pace with this rapid rise in commercial space exploration and exploitation, just who has a duty to rescue so-called space tourists and astronauts is unclear. Urgent legal reform is needed.

Privatisation of space

International space law contains a special duty for countries to rescue astronauts, regardless of their nationality.

According to the United Nations Agreement on the Rescue of Astronauts, all member countries of the treaty, not just the country that launched the mission, have a duty to take “all necessary steps” to assist spacecraft crew in distress.

This includes missions still in space as well as spacecraft that crash land in another state’s territory or at sea. The state conducting the rescue mission must safely return the astronauts to Earth – and to the country they originally launched from.

But it’s not clear whether private space companies will have a similar duty. Some experts worry space tourists may have no real legal protection.

Space law dates from the 20th century, when the 1967 Outer Space Treaty was adopted. But the original space race involved superpowers, and the possibility of corporations one day crossing the “final frontier” wasn’t even considered.

So, if space tourists become stranded like Williams and Wilmore have been, there’s a possibility – in law at least – they could be left to fend for themselves.

NASA’s Butch Wilmore and Suni Williams on their way to the launch craft of the ill-fated mission in June 2024.
Getty Images

Who is an ‘astronaut’?

Space policy experts are now calling on the international community to adopt a broad interpretation of the term “astronaut” to ensure anyone has a right to be rescued regardless of their legal status.

They’re also calling for new rules to determine who is responsible for rescuing private citizens if they get into trouble. Despite the several treaties and conventions regulating space activity, none address space tourism.

Currently, space tourism involves lower atmosphere travel, but SpaceX’s Elon Musk has talked about sending tourists to Mars. However realistic that is, space law is struggling to keep up with such ambitions.

With the rise of private space missions, there is now a strong argument for the companies involved being required to shoulder or share the associated costs and responsibilities.

Described by the UN Office of Outer Space Affairs as “envoys of humankind”, astronauts undergo years of arduous training before taking part in space missions. They are acutely aware of the risks of space travel – but have embraced it.

The same can’t be said for civilians. Space tourism is still in its early days, but the companies promoting it will need to act responsibly and sustainably. This means making their customers aware of the dangers and implementing rescue procedures and protocols.

Without proper regulatory oversight, however, space tourism companies could require prospective customers to sign legal agreements waiving their right to rescue if they are in danger.

The challenge for space law now is to find a workable compromise between human safety and corporate profit motives.

Anna Marie Brennan does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

– ref. As the rescued astronauts return, space law is still in orbit over who’s responsible when missions go wrong – https://theconversation.com/as-the-rescued-astronauts-return-space-law-is-still-in-orbit-over-whos-responsible-when-missions-go-wrong-252594

MIL OSI Analysis – EveningReport.nz –

March 19, 2025
MIL-OSI: Middlefield Announces Intention to Change Primary Exchange for Innovation Dividend ETF

Source: GlobeNewswire (MIL-OSI)

TORONTO, March 18, 2025 (GLOBE NEWSWIRE) — Middlefield Limited (the “Manager”), the manager of Middlefield Innovation Dividend ETF (TSX:MINN), is pleased to announce its intention to change the primary exchange on which the securities of MINN are listed from the Toronto Stock Exchange (TSX) to Cboe Canada Inc. (“Cboe Canada”), effective on or about April 7th. The Manager has received conditional approval from Cboe Canada to list the Units on its exchange.

It is important to note that the ticker symbol for Middlefield Innovation Dividend ETF will remain unchanged as MINN. Unitholders are assured that no action is required on their part for this listing change to take effect. All investment holdings will continue seamlessly without any disruption to trading activities or the value of the ETF.

About Middlefield

Founded in 1979, Middlefield is a specialist equity income asset manager with offices in Toronto, Canada and London, England. Our investment team utilizes active management to select high-quality, global companies across a variety of sectors and themes. Our product offerings include proven dividend-focused strategies that span real estate, healthcare, innovation, infrastructure, energy, diversified income and more. We offer these solutions in a variety of product types including ETFs, Mutual Funds, Split-Share Funds, Closed-End Funds and Flow-through LPs.

For further information, please visit our website at www.middlefield.com or contact Nancy Tham in our Sales and Marketing Department at 1.888.890.1868.

This press release contains forward-looking information. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, intentions, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “is expected”, “anticipates”, “plans”, “estimates” or “intends” (or negative or grammatical variations thereof), or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved) are not statements of historical fact and may be forward-looking statements. Statements which may constitute forward-looking statements relate to: the proposed timing of the name, objectives and strategies changes and completion thereof; the potential benefits of such changes; and the holding of the unitholder meeting. Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements including as a result of changes in the general economic and political environment, changes in applicable legislation, and the performance of each fund. Additional risks, uncertainties and other factors that could influence actual results are described under “Risk Factors” in the ETFs’ prospectus and other documents filed by the ETFs with the Canadian securities regulatory authorities. The forward-looking information contained in this press release constitutes the ETFs’ current estimate, as of the date of this press release, with respect to the matters covered hereby. Investors and others should not assume that any forward-looking statement contained in this press release represents the ETFs’ estimate as of any date other than the date of this press release.

The MIL Network –

March 19, 2025
MIL-OSI: HTX February Performance Report: Trading Volume Surges, Secured Top 3 Ranking in EUR-Stablecoin Trading Volume

Source: GlobeNewswire (MIL-OSI)

SINGAPORE, March 18, 2025 (GLOBE NEWSWIRE) — Amid February’s cryptocurrency market volatility, HTX demonstrated robust performance, delivering exceptional achievements in trading volume, user engagement, product enhancements, and global market expansion. HTX’s performance during this period has garnered recognition from prominent media outlets, underscoring the platform’s resilience and commitment to providing a robust trading environment.

Stronger Platform Growth with Industry-Wide Recognition

February witnessed a substantial surge in HTX’s trading volume, accompanied by an 8.15% month-over-month rise in HTX App logins, indicating heightened user engagement and platform appeal..

According to CoinDesk Data’s February 27th report, HTX’s global expansion has yielded impressive results, securing a top-three position in EUR-stablecoin trading volume. This achievement underscores HTX’s growing presence and influence within the international digital asset market. Furthermore, HTX has been honored by Forbes as one of the “Top 25 World’s Most Trustworthy Crypto Exchanges of 2025,” a testament to its unwavering commitment to security, regulatory compliance, and user confidence.

HTX also participated in key industry summits during February. At the 2025 HTX DAO Victoria Harbour Night – Journey of Confidence event in Hong Kong, Justin Sun, Global Advisor of HTX, discussed the decentralized stablecoin USDD, emphasizing its innovative mechanisms designed to optimize user returns and enhance the overall user experience. He reaffirmed USDD’s commitment to long-term development, emphasizing robust technology and effective community governance as pillars for sustainable growth.

Maximizing Wealth Creation for Users

In February, HTX listed six new assets, bringing significant wealth growth opportunities for its users, particularly among the high-performers. Specifically, KAITO surged 207% post-listing, BERA increased by 80%, and LAYER rose by 50%. Even amidst recent market fluctuations, HTX continues to provide avenues for wealth creation.

HTX exhibited keen market discernment by being among the first to list TST and SHELL from the BSC ecosystem. TST, a notable BSC project endorsed by CZ, saw HTX respond promptly to its burgeoning popularity, effectively capturing market trends and providing users with a distinct early-mover advantage.

HTX Ventures, recognizing emerging AI opportunities, released its latest research report in February titled “DeepSeek Sparks the AI Sector’s ‘iPhone Moment,’ and Agent Tokens’ Integration into Real Crypto Businesses Accelerates.” This insightful report explores AI technology’s extensive applications within the cryptocurrency sector, providing investors with valuable market foresight while fostering ecosystem growth and pioneering project incubation.

HTX also focused on enhancing its product offerings. The platform revamped the HTX Earn subscription interface, streamlining processes and improving operational convenience for an optimized user experience. Additionally, the USDD Flexible Earn platform was upgraded to support USDT subscriptions at a 1:1 ratio, offering users a 12% APY and ensuring stable returns during market fluctuations. HTX will remain dedicated to continuously improving product functionalities and enriching its offerings.

Safeguarding User Assets as a Priority

HTX has significantly enhanced its security infrastructure throughout February, reinforcing its commitment to protecting user accounts, transactions, and assets.These comprehensive security measures underscore HTX’s unwavering dedication to providing a secure and reliable trading environment for its global user base.

As a pioneer in implementing Merkle Tree Proof of Reserves, HTX has consistently demonstrated its dedication to transparency by publicly disclosing reserve data for 29 consecutive months. The platform recently updated its Merkle Tree Proof of Reserves for March 2025.

Users can access the monthly updated reports and view the platform’s financial status from the “Assets – PoR Reports” page on the HTX official website.

Throughout February, HTX’s customer service team provided exceptional support, assisting 33,743 users and effectively addressing 65,636 inquiries and tickets across various areas such as P2P trading, on-chain transactions, 2FA, asset management, and KYC verification. The team’s dedication to providing professional and timely solutions resulted in an 82% user satisfaction rating in February, fostering a positive and loyal user base.

HTX showcased robust growth in February, driven by significant trading volume increases, innovative product offerings, fortified security measures, and premium user service. With its global expansion and continuous improvements to products and services, HTX is well-positioned to gain a larger market share, offering an enhanced digital asset trading and investment experience to users worldwide.

About HTX

Founded in 2013, HTX has evolved from a virtual asset exchange into a comprehensive ecosystem of blockchain businesses that span digital asset trading, financial derivatives, research, investments, incubation, and other businesses.

As a world-leading gateway to Web3, HTX harbors global capabilities that enable it to provide users with safe and reliable services. Adhering to the growth strategy of “Global Expansion, Thriving Ecosystem, Wealth Effect, Security & Compliance,” HTX is dedicated to providing quality services and values to virtual asset enthusiasts worldwide.

To learn more about HTX, please visit HTX Square or https://www.htx.com/, and follow HTX on X, Telegram, and Discord. For further inquiries, please contact glo-media@htx-inc.com.

Disclaimer: This press release is provided by HTX. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining related opportunities involves significant risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector–including cryptocurrency, NFTs, and mining–complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release.

Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

Photos accompanying this announcement are available at https://www.globenewswire.com/NewsRoom/AttachmentNg/74172104-0c15-4b95-a384-c8203f9bde99

https://www.globenewswire.com/NewsRoom/AttachmentNg/12d9ad00-ee6d-4cd6-ad47-327789a39c80

https://www.globenewswire.com/NewsRoom/AttachmentNg/49fe9ddc-6792-4d5f-80b1-69589c38ec09

The MIL Network –

March 19, 2025
MIL-OSI United Nations: ‘Intolerable’ suffering in Gaza amid deadly airstrikes, continued aid blockade

Source: United Nations MIL OSI b

18 March 2025 Peace and Security

The UN Secretary-General on Tuesday spoke of new “intolerable” suffering for Gazans following the resumption of deadly Israeli airstrikes, underscoring three immediate needs: a renewed ceasefire, unimpeded humanitarian access and the unconditional release of hostages.

“We will not give up on these objectives,” António Guterres said during a press encounter at the UN Office in Geneva.

Airstrikes resume, aid blocked

In a statement issued earlier in the day, UN Deputy Spokesperson, Farhan Haq, said Mr. Guterres was “shocked” by the Israeli strikes, which reportedly killed hundreds overnight.

He issued a strong appeal for both sides to uphold the ceasefire and allow humanitarian assistance to resume.

Worst fears materialised

Briefing the Security Council on the dire humanitarian situation, UN Emergency Relief Coordinator Tom Fletcher confirmed that Israeli forces had resumed widespread airstrikes, accompanied by new evacuation orders.

“Our worst fears materialised,” he said, describing the renewed hostilities as a devastating setback to recent humanitarian efforts – marking the return to “abject fear” in Gaza.

Mr. Fletcher reported that since 2 March, Israeli authorities had cut off all lifesaving supplies – food, medicine, fuel and cooking gas – into the Gaza Strip.

“Food is rotting and medicines are expiring,” he warned, adding “our repeated requests to collect aid sitting at Kerem Shalom crossing have been systematically rejected.”

Ceasefire gains reversed

Mr. Fletcher further warned that that modest humanitarian gains made during the 42-day ceasefire had been wiped out.

“During that period, over 4,000 trucks of aid per week entered Gaza. We reached two million people,” he said, noting also that 600,000 received polio vaccinations and maternity care for 5,000 births.

“The suspension of aid and commercial materials is reversing that progress that we achieved during that brief period. Essential survival resources needed are now being rationed,” he added.

Under-Secretary-General Fletcher briefs the Security Council.

Concerns grow over West Bank

The UN relief chief also highlighted worsening conditions in the West Bank, where 95 Palestinians, including 17 children, have been killed this year.

Israeli military operations have intensified, deploying tanks for the first time in two decades. Around 40,000 Palestinians have been displaced and settlers have launched large-scale attacks on villages.

“I also have grave concerns about the protection of civilians in the West Bank. The situation there is an urgent crisis that must be addressed with the necessary international attention,” Mr. Fletcher said.

Call for urgent action

Mr. Fletcher concluded with a call for ambassadors to take three immediate steps: open Gaza’s border crossings to aid, renew the ceasefire and secure more funding for humanitarian operations.

“The suffering of the people of the region must end. A renewed ceasefire is the best way of protecting civilians – in Gaza, in the occupied Palestinian territory (OPT) and in Israel – releasing hostages and detainees and allowing aid and commercial supplies in,” he said.

MIL OSI United Nations News –

March 19, 2025
MIL-OSI Submissions: Australia – Beyond the belt: New hotspots emerge as movers migrate past commuter communities – CBA

Source: Commonwealth Bank of Australia (CBA)

Regional living prevails as CommBank and the Regional Australia Institute’s latest Regional Movers Index reveals Australians are migrating further afield. 

The latest Regional Movers Index (RMI) report reveals the emergence of several new regional destinations, as communities beyond the traditional ‘commuter belt’ surge in popularity for newcomers. 

The Regional Australia Institute (RAI) CEO Liz Ritchie said the Local Government Areas (LGAs) of Gympie in Queensland, Richmond Valley and Wingecarribee in New South Wales, and East Gippsland in Victoria have made their debut as hotspots in the December 2024 quarter RMI report, highlighting relocators’ appetites for destinations further afield. 

“The desire for regional living remains strong, with 32 per cent more people moving from big cities to regions than in the opposite direction, building on pre-existing data which shows the nation’s migration patterns are changing,” Ms Ritchie said.  

 “Regional Australia is the new frontier, and people are enthusiastic about the career opportunities and lifestyle benefits it offers. The RMI’s net migration index, which measures net population flow into regional Australia, is now sitting 51 per cent above the pre-Covid average.  

 “The emergence of new mover hotspots further out shows this increase of population into Australia’s regions is not isolated to a couple of places, rather that it’s happening all over the country. It’s why we must ensure communities have the infrastructure, funding and support they need to ensure they can continue to welcome new residents.”  

The RMI is a partnership between the RAI and the Commonwealth Bank of Australia (CBA), which analyses quarterly and annual trends in people moving to and from Australia’s regional areas.  

This latest report signifies a change in mover preferences, with communities such as Queensland’s Sunshine Coast, which has been the nation’s most popular regional mover destination for nine consecutive quarters, gradually reducing its share of net internal migration.   

 CBA’s Acting Executive General Manager Regional and Agribusiness Banking, Josh Foster, said while the Sunshine Coast remains a firm favourite, other communities in the Sunshine State are gaining movers like nearby Gladstone, Toowoomba, Fraser Coast, Mackay and Gympie.  

“The lure of the Sunshine State has long attracted both city and regional movers, with the latest RMI proving the appeal of a scenic and often more balanced lifestyle extends beyond metropolitan areas, bringing renewed economic and social benefits to other areas of the state.    

 “This quarter saw the rise in popularity of several new growth hotspots within regional Queensland, demonstrating the diversification of the state’s economy. Fraser Coast’s deep roots in agriculture and Gladstone’s mining and green energy boom are just some of the sectors helping drive increased employment opportunities to these regions. With lower-than-average employment rates and limited housing supply, more investment is needed in construction, manufacturing and property development to support these growing communities.”  

Mr Foster added: “Continued development in roads and transport infrastructure like the Gympie bypass are also integral to improving accessibility to these thriving regions and offer businesses a commercial opportunity to expand or relocate beyond major metro areas. CBA is working closely with local government, key industries and business customers to unlock new areas of investment across the state.” 

 Regional New South Wales and Victoria accounted for 71 per cent of all net regional inflows in the December 2024 quarter, while Queensland’s share stood at 19 per cent and there were small gains made in regional South Australia, Tasmania and Western Australia.   

 Sydneysiders continue to lead the charge into the regions, accounting for 59 per cent of net city outflows, down from 65 per cent in the 2023 December quarter. Whilst Melbournians now account for 40 per cent of net city outflows, up from 35 per cent a year ago.  

 Ms Ritchie said this quarter’s report also highlighted city-dwellers are increasingly relocating to areas which have previously been more popular with regional movers, like Greater Bendigo and Maitland.  

 “It’s critical that decision-makers note this important, contemporaneous data to ensure plans can be made, both now and into the future for these growing communities. The better we are able to project Australia’s population movements, the better we can prepare for them, ensuring the needed skills and services are in the right place, at the right time,” Ms Ritchie said.  

Mr Foster said regional Western Australia also continues to exhibit a strong lure for movers, including Albany, Bunbury, Harvey, Capel and York.  

“Of note, Bunbury in the southwest corner of Western Australia has retained its position as the nation’s fastest growing hotspot for capital movers over the 12 month period to December 2024. The area’s appeal has been supercharged by major infrastructure developments such as the completion of the Wilman Wadandi Highway, helping ease travel times between city-to-region.  

 “The RMI has also shown that in this past quarter, people are willing to go further afield with the south coast LGA of Albany recording the third highest growth in net internal migration. Located almost five hours drive from Perth, Albany offers an idyllic lifestyle, reliable healthcare and education services, as well as strong employment opportunities across several sectors including agriculture, aquaculture, renewable energy and tourism.”  

Mr Foster concluded: “This latest RMI proves that the great regional migration is being felt deep within our regions, with the economic and lifestyle gains no longer contained to areas within commuting distance. With the right commercial and industry investments, this offers a win-win for consumers as well as businesses.”    

The December 2024 quarter saw a seasonal reduction in internal migration across all mover types, as people tend to stay put in the last three months of the year, with capital-to-regional migration as measured by the RMI down by 11 per cent.   

Despite lower mobility across the country, capital-to-regional relocations remain 8 per cent higher than the pre-Covid average and 3 per cent higher than a year ago.  

The reduction also of regional-to-regional and regional-to-capital relocations, suggests more regional movers are choosing to settle where they are, rather than relocate elsewhere.

The Regional Movers Index, launched in 2021, tracks movements between Australia’s regions and capital cities, using Commonwealth Bank data from relocations amongst more than 14.3 million customers. This enables early identification of growth trends and flags places emerging as hot spots needing fresh thinking on housing and infrastructure.   

Data based on CBA customer address changes over the past five years, with prior addresses resided in for at least six months. Greater Capital City/Regional Area based on ABS 1270.0.55.001 GCCSA. An LGA must have recorded net internal migration inflows in 2024 of 50 or more people to be included in the report.

The RMI is used primarily to map population movements between Australia’s regional areas and its capital cities. For this reason, it uses an ABS classification of regional that includes areas in and around other centres of population, including the Gold Coast, Sunshine Coast, Newcastle, Wollongong and Geelong.  

MIL OSI – Submitted News –

March 19, 2025
MIL-OSI Global: Putin makes paltry concession to Ukraine in Trump’s self-aggrandizing ceasefire effort

Source: The Conversation – Canada – By James Horncastle, Assistant Professor and Edward and Emily McWhinney Professor in International Relations, Simon Fraser University

Russian President Vladimir Putin has agreed to a proposal by United States President Donald Trump for Russia and Ukraine to stop attacking each other’s energy infrastructure for 30 days, according to statements by both the White House and the Kremlin.

The deal, however, falls short of an unconditional 30-day ceasefire proposed by U.S. and Ukrainian officials earlier this month.

Russia’s response to the initial U.S. ceasefire proposal has been predictable. Putin has argued that considerable changes need to be made to the original proposal, though he didn’t outright reject it.

Given the earlier proposal is highly vague, this leads to one conclusion. Russia is playing for time to maximize its negotiating position.

Trump’s latest phone call with Putin seemingly didn’t amount to any substantive changes, except for Russia’s agreement to refrain from targeting Ukraine’s energy infrastructure — a concession that might actually benefit Russia.

The winter, when Ukraine is most vulnerable to Russian attacks on its energy infrastructure, is almost done. Russia’s dependence on energy exports to support its war effort, however, remains constant, and any Ukrainian attacks on Russian energy facilities will be framed as a breach by Russian authorities.

Russia exploiting Trump’s desire for peace at any cost will probably be an ongoing trend.

Trump’s goal

The U.S. is playing an important role in peace negotiations. Under former president Joe Biden, this was due to the fact that the U.S. provided Ukraine with arms and moral support.

Like most aspects of American policy, however, Trump dramatically pivoted, even attacking Ukraine’s Volodymyr Zelenskyy in an infamous White House meeting in February. Now Trump is seeking a ceasefire, no matter what form it takes, to build a reputation as a statesman and distract Americans from domestic policy issues.

Read more:
What the U.S. ceasefire proposal means for Ukraine, Russia, Europe – and Donald Trump

This development places Zelenskyy in a political bind. The U.S. in the past provided most of the military aid to Ukraine and the relationship between the Ukrainian leader and Trump is acrimonious.

As such, even if Zelenskyy doesn’t agree with American ceasefire proposals, he must give the appearance of agreement or risk permanently alienating the mercurial Trump. Putin, in the meantime, will exploit any Ukrainian-American tensions.

Current military situation

The first year of the current phase of the Ukraine-Russia war was marked by mobility as both Russia and Ukraine made considerable advances and counteroffensives.

Since the start of 2023, however, the conflict is increasingly defined as a war of attrition and a stalemate.

Many analysts argue that such a war favours Russia. Wars of attrition are defined by slow, grinding advances whereby large casualties are a necessary byproduct for success. Given Russia’s material and personnel advantages, it can afford to suffer higher casualties.

For the past several months, Russian forces have been making slow, steady advances against Ukrainian positions. Russia has suffered significant casualties in these advances, and they may not be sustainable over the long term.

Putin is gambling that Ukraine’s and the international community’s will to fight will be broken by the time this is an issue. Trump’s push for a ceasefire at any cost suggests Putin may have a point.

Any immediate ceasefire agreement between Russia and Ukraine would leave Ukraine occupying Russian soil in the Kursk region, which Russia cannot accept.

Russia’s immediate goal

Ukraine’s 2024 incursion into the Kursk region provided the country and its people with a necessary respite from the war of attrition. Ukrainian forces, attacking an under-defended and unprepared part of the Russian front line, made significant advances into Russia.

Ukraine’s ability to maintain territory around Kursk has also proven to be an embarrassment for Putin and the Russian establishment.

Putin recently said Russian forces encircled Ukrainian forces in the salient, although Ukraine denies it. Regardless of the statement’s validity, it speaks to the importance both parties attach to the battle.

Russia’s reputation

This issue highlights a particular problem for the Russian leadership. Russia has done its utmost to frame its so-called “special military operation” in Ukraine as a success. An example is Russia’s formal annexation of four Ukrainian areas in 2022, despite not actually possessing the territory at the time.

Any perception of the invasion of Ukraine as a failure is a non-starter for a Russian government concerned about its domestic standing.

Ukraine possessing Russian territory, however, leads to questions in Russia about the war’s success. Ukraine, in exchange for relinquishing any Russian territory it seized during the war, would undoubtedly seek the return of Ukrainian territory.

Russia has not even achieved its minimal goals of seizing the four Ukrainian regions it’s officially annexed. Therefore, it’s unlikely Putin would ever agree to the exchange of the territory it has actually already seized in exchange for the Kursk salient.

Putin is following the Russian playbook of negotiating from strength. So long as Ukraine maintains Kursk, Russia will not negotiate in good faith.

While Kursk is the most prominent area of Russia concern, there are other conditions that will become important in the future as Putin seeks to improve Russia’s negotiating position.

It’s a lesson that Trump will soon learn, despite any and all efforts he or his administration make to frame things positively.

James Horncastle does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

– ref. Putin makes paltry concession to Ukraine in Trump’s self-aggrandizing ceasefire effort – https://theconversation.com/putin-makes-paltry-concession-to-ukraine-in-trumps-self-aggrandizing-ceasefire-effort-252368

MIL OSI – Global Reports –

March 19, 2025
MIL-OSI Canada: Spring Weight Restrictions on Secondary Highways Begin March 21

Source: Government of Canada regional news

Released on March 18, 2025

With spring thaw beginning, weight restrictions start March 21 on secondary highways to protect key links of Saskatchewan’s road network.

“This annual measure keeps key transportation infrastructure ship shape for the long run so that our highways can move goods to support our export-based economy, which helps sustain our quality of life,” Highways Minister David Marit said.

The 2025 restrictions go into effect at 12:01 a.m., Friday, March 21 in southwest Saskatchewan. They are expected to be phased in throughout the province as it gets warmer. The spring restrictions will remain in place for up to six weeks.

These restrictions protect the surface and ground beneath these roads, which become wet and soften with spring thaw. This reduces allowable vehicle weights on rural municipal roads and secondary-weight provincial highways by 10 to 15 per cent.

For the latest available information about which highways have spring weight restrictions, please visit:

https://www.saskatchewan.ca/business/transportation-and-road-construction/information-for-truckers-and-commercial-trucking-companies/regulations-and-road-restrictions/increased-weights-and-road-restrictions.

The newest order will be under the Spring Road Bans heading. Truckers and shippers are reminded to check regularly.

Technical and regulatory information is also available through the Trucking Inquiry Line at 1-866-933-5290 or outside of Saskatchewan at 306-933-5290.

Rural municipalities are responsible for their own roads and set their own weight limits.

-30-

For more information, contact:

MIL OSI Canada News –

March 19, 2025
MIL-OSI Canada: B.C. supporting food manufacturing, food security
Source: Government of Canada regional news

New support for food and beverage manufacturers throughout the province will create jobs, strengthen local supply chains, establish new B.C.-made products and increase food security for people in British Columbia.

“We are all working together to create new opportunities for B.C.-based food manufacturers that will strengthen our province,” said Diana Gibson, B.C.’s Minister of Jobs, Economic Development and Innovation. “Improving food security and increasing sustainable, local food production is critical for people and families as we continue facing unjustified tariffs from our neighbour to the south.”

Through the BC Manufacturing Jobs Fund (BCMJF), the Province is contributing as much as $6.6 million toward the growth of seven food manufacturing companies in communities throughout the province. These expansion projects are enabling B.C. producers to remain competitive by scaling up and adding new product lines, while creating more than 165 sustainable jobs throughout the province.

Located in Kelowna, Farming Karma Fruit Company Ltd. is a family-owned-and-operated business that manufactures value-added fruit products, such as sparkling fruit beverages, using Okanagan-grown fruit. It will receive as much as $2 million to support the purchase of advanced manufacturing equipment that will bring primary processing in house, increase production and expand its product lines. This investment will help create 32 jobs and strengthen the company’s distribution of made-in-B.C. fruit products across Canada.

“Supporting food manufacturing in B.C. strengthens the economy, creates jobs and builds a resilient food system,” said Avi Gill, CEO and co-founder, Farming Karma Fruit Company. “We’re grateful for the B.C. government’s support in expanding our manufacturing operation and the opportunities it brings. As next-generation farmers, our vision is to lead in creating value-added fruit products, support local farmers, and innovate for the future of farming.”

Operating in the Fraser Valley, One Degree Organic Foods is a family-run organic food producer, specializing in oats, granola, cereals and flours made from organic, non-GMO ingredients sourced from Canadian and international farmers. It will receive as much as $2 million to consolidate its four smaller locations into one larger, centralized facility in Mission, purchase new equipment that will double production capacity to meet growing customer demand and establish new product lines, while creating 32 jobs.

“With the support of the BC Manufacturing Jobs Fund, we are enhancing operational efficiency through a consolidated facility allowing us to better serve our customers,” said Greg Dengin, CFO, One Degree Organic Foods Inc. “This investment increases our capacity and accelerates One Degree Organic Foods’ ability to provide traceable organic products, while strengthening our connection to the Mission community and continuing to support job growth in British Columbia.”

BCMJF funding for food manufacturing projects builds on recent work by the Province to support B.C.’s agriculture and food sector and strengthen food security. A new Premier’s task force, led by leaders representing the food supply chain from farm to table, is looking at ways to enhance B.C.’s agricultural and food economic growth and competitiveness.

Additionally, government continues to support innovation in farming through the BC Centre for Agritech Innovation with 19 new projects, representing nearly 200 new jobs, while creating more sustainable and efficient food production.

“The food and beverage sector is a core part of B.C.’s manufacturing industry, generating over $13 billion in revenue and over 40,000 jobs,” said Lana Popham, B.C.’s Minister of Agriculture and Food. “Through smart investments of equipment, infrastructure and technology, the delicious harvest we reap each year can also be transformed into made-in-B.C. products, keeping jobs and dollars in the province. That’s smart economics, especially in the face of ongoing threats to B.C.’s well-being from the United States.”

Clean and Competitive: A Blueprint for B.C.’s Industrial Future lays out the Province’s work to drive new investment, create new jobs and seize new opportunities in growing clean-energy and sustainable industries. Supporting local manufacturing sectors helps leverage B.C.’s strengths to create good jobs and opportunities in every community and will improve the quality of life for people, while strengthening B.C.’s diverse economy.

Quick Facts:
- The BCMJF supports high-value industrial and manufacturing capital projects across all sectors that create and protect well-paying jobs.
- The BCMJF has committed $146 million toward 132 projects to date, unlocking more than $1 billion in private-sector and other public investment.
  - Every $1 million invested results in $7 million in total direct capital investments in B.C., $590,000 in tax revenue to the Province, and $5.3 million in provincial GDP during the capital construction phase.
- Funded projects will create and protect more than 4,700 jobs throughout B.C.
Learn More:

To learn about the BC Manufacturing Jobs Fund, such as a list of recipients and updated application deadline information, visit:
https://www2.gov.bc.ca/gov/content/employment-business/economic-development/support-organizations-community-partners/rural-economic-development/manufacturing-jobs-fund

To learn more about the economic impact of B.C.’s food and beverage manufacturing sector, visit:
https://www2.gov.bc.ca/gov/content/industry/agriculture-seafood/statistics/agriculture-and-seafood-statistics-publications

To learn more about Clean and Competitive: A Blueprint for B.C.’s Industrial Future, visit:
https://news.gov.bc.ca/files/Clean_and_Competitive.pdf

Two backgrounders follow.

Project descriptions and funding amounts for the five additional BCMJF projects in this batch are listed in Backgrounder 1.

MIL OSI Canada News –
March 19, 2025
MIL-OSI Canada: Update on Calgary’s Green Line LRT project: Minister Dreeshen

Source: Government of Canada regional news (2)

“We are pleased that the Government of Canada has approved the City of Calgary’s revised business case for the Green Line LRT project that meets the provincial requirements of connecting to the Red and Blue Lines downtown, the new event centre, and as far south to Shepard. This approval ensures the matching federal funding commitment of $1.53 billion for this critical project and that construction can finally begin after a decade of delay since 2015.

“The new Green Line alignment saves more than a billion dollars in tunnelling costs with an elevated alignment through downtown and enables the city to add five more stations, increase the length by 76 per cent, and serve 60 per cent more commuters.

“The City of Calgary is responsible for delivering the project. Tenders for construction will go out in spring 2025 with the focus to utilize local construction companies.

“At the same time, the City of Calgary will also begin work immediately on the planning and design development for the downtown segment. This work will be based on the Government of Alberta’s plan and alignment, using 10 Avenue and 2 Street SW. The design is expected to be completed by 2026, leading to construction on the downtown segment beginning in 2027.

“We are pleased to work in collaboration with the City of Calgary in helping to bring forward a project that is in the best interest of Calgary commuters and Alberta taxpayers.”

MIL OSI Canada News –

March 19, 2025
MIL-OSI Canada: Investing nearly $5B in Alberta’s north
[. In the province’s latest budget, $4.4 billion is being allocated in operating expenses and $475 million for capital expenses to Alberta’s north region.

Alberta’s northern communities are vital to the province’s identity, prosperity and success. There is no question, Alberta’s northern communities face unique opportunities and challenges that must be addressed today. Budget 2025, if passed, is meeting the challenges faced by Alberta with continued investments in economic development, education, health, transportation and more.

Jobs, Economy and Trade:

If passed, Budget 2025 strengthens northern Alberta’s workforce and regional economies through strategic supports and investments, including $9 million over the next three years through the Northern and Regional Economic Development Program (NRED) and $1.5 million allocated over three years for the Northern Alberta Development Bursary, to attract and retain skilled professionals to grow and diversify northern economies. Alberta’s government is also investing $111 million in affordability and wage-top-up grants to child care operators in northern Alberta so northern families can access quality child care.

Regarding regional supports, $45 million is being allocated over three years to the Investment and Growth Fund to increase Alberta’s competitiveness and attract investment across the province, including in the north. Budget 2025 invests $3 million in the Alberta Export Expansion Program over three years to enhance access for Alberta-based businesses to international markets for export-ready organizations. Alberta’s government is also investing $235 million in the Alberta Film and Television Tax Credit over the next three years to grow the film and television sector in Alberta, with 30 per cent tax credits available for qualifying northern and rural productions.

“By driving strategic economic development, attracting investment with a business-friendly environment and empowering our northern workforce, our government is ensuring Alberta’s north remains an economic engine, fueling growth and industry diversification for years to come.”

Matt Jones, Minister of Jobs, Economy and Trade

Northern Development:

Alberta’s government has engaged with business owners, municipalities and economic development organizations from communities across northern Alberta who shared their specific barriers to economic growth, such as workforce retention and attraction, transportation, infrastructure and affordable housing. If passed, Budget 2025 makes important investments to address those challenges and create more opportunities for Albertan workers and business owners based in the north.

“Northern Alberta has limitless opportunity. Investing in much-needed supports today, like the Northern and Regional Economic Development Program and Northern Alberta Development Bursary, will empower communities to succeed, setting the foundation for northern communities to thrive for generations to come.”

Tany Yao, parliamentary secretary for small business and northern development

Education:

Last fall, Alberta’s government announced a program to accelerate school construction and build new classroom spaces. If passed, Budget 2025 would invest $225 million over three years for school projects across Alberta, including for planning and design of five new school projects in the north. Alberta’s government is investing in Cold Lake, Fairview, Grand Prairie and two schools in Fort McMurray. In Cold Lake, a new school will replace the Art Smith Aviation Academy, North Star Elementary School and Cold Lake Junior High. An addition to the Grande Prairie Composite High School will make room for more students in the community, while families in Fairview can look forward to new schools to replace existing and aging ones. In Fort McMurray, families can look forward to an addition to Holy Trinity Catholic High School and a modernization of École Dickinsfield School which will accommodate growing student populations.

“Budget 2025, if passed, will provide five new schools and the teachers and staff needed to support them to northern Alberta communities. Alberta’s government remains committed to providing a world-class education to students in every corner of the province.”

Demetrios Nicolaides, Minister of Education

Health:

If passed, Budget 2025 includes $15 million in planning funds for eight new urgent care centres, including in Cold Lake and Fort McMurray. It also includes an increase of $12 million for the existing Rural Remote Northern Program and $12 million annually for physician support programs. Alberta’s government is also upgrading hospitals and facilities across the province and is investing in innovation to make Alberta an in-demand destination for researchers. Capital projects include $80 million over three years for the La Crete Maternity and Community Health Centre, and $18 million over two years to fund furnishings, equipment and IT infrastructure for the new Mountview Health Complex in the town of Beaverlodge, as well as a $170-million capital lease to operate the new facility. Additionally, Budget 2025 includes funding to complete the expansion of the town of Slave Lake’s EMS station.

“Budget 2025 prioritizes the health of people in northern Alberta with investments in urgent care centres and vital infrastructure upgrades. These initiatives will help strengthen communities, improve access to care and support sustainable growth across the region.”

Adriana LaGrange, Minister of Health

Transportation and Economic Corridors:

If passed, Budget 2025 also includes funding for multiple highways and bridges, with funding already announced earlier this month. Alberta’s northern communities are vital to our province’s identity and success, and that is why Budget 2025 invests $1.25 billion in the north to expand emergency routes in northern Alberta – because when disaster strikes, every second counts.

“Alberta’s rapid growth demands bold action. That’s why we are making historic investments in transportation and water infrastructure to keep our communities thriving, businesses competitive and families supported. These projects will create jobs, boost trade and ensure Alberta remains the best place to live, work and build a future.”

Devin Dreeshen, Minister of Transportation and Economic Corridors

Advanced Education:

If passed, Budget 2025 also invests $2 million in 2025-26 for the expansion and upgrades of Keyano College in Fort McMurray to provide an enhanced learning environment for in-demand programs like nursing and paramedicine to help address labour needs in Alberta’s health care system. Budget 2025 also invests $1 million towards planning for the skilled trades expansion at Northwestern Polytechnic in Grande Prairie, which will help meet demand for skilled tradespeople to build Alberta’s growing economy. Further, Budget 2025 allocates a total of almost $9 million for capital maintenance and renewal projects at the following northern Alberta post-secondary institutions:
- Athabasca University
- Keyano College
- Lakeland College
- Northern Lakes College
- Portage College
- Northwestern Polytechnic
“Alberta’s government is ensuring students in northern Alberta and across the province have access to high-quality post-secondary education. That is why we are making significant investments in northern Alberta through Budget 2025 that will upgrade facilities and create more seats in high-demand programs.”

Rajan Sawhney, Minister of Advanced Education

Other Supports:

As extra support for the 2024-2025 Northern and Regional Economic Development (NRED) program, Alberta’s government is pleased to announce an additional $7 million will be allocated towards last year’s grant intake. For 2024-25, NRED will provide over 80 grants worth approximately $10 million.

“The Northern and Regional Economic Development grant supports business growth in Fort McMurray Wood Buffalo. More than 100 local businesses have benefited from programs funded through this grant so far – and we’re very excited to continue the success in 2025.”

Melonie Doucette, director of entrepreneurship and innovation, Fort McMurray Wood Buffalo Economic Development and Tourism

“The 2025 Alberta provincial budget provides continuing support for the work of regional economic development and continues to support the growth of rural Alberta. Investments in infrastructure are key to ensure our commodities move to market and our rural economy continues to grow and provide for the needs of all Albertans today and into the future.”

Gerald S. Aalbers, mayor, City of Lloydminster and chair, Northeast Alberta Information HUB

“The province’s investment in northern Alberta is good news for supporting the region’s continued economic growth and acknowledging the unique difficulties of maintaining infrastructure and delivering services in the rural north. Rural Municipalities of Alberta (RMA) is hopeful that government will work with the region’s rural municipalities to ensure the investments are targeted for maximum community and regional benefit.”

Kara Westerlund, president, RMA

Through strategic investments in the north, Alberta’s government is tackling challenges head-on, laying the foundation for long-term prosperity and success.

Budget 2025 is meeting the challenge faced by Alberta communities with continued investments in education and health, lower taxes for families and a focus on the economy.

Quick facts:

If passed, Budget 2025 invests:
- $264 million in new funding for highway projects across northern Alberta, including:
  - Paving Highway 58 to improve mobility for more than 5,500 local residents, boost economic activity and allow unimpeded access for emergency vehicles.
  - Paving Highway 686 between Peerless Lake and Trout Lake and commencing design work to extend the highway from Fort McMurray to Peerless Lake.
  - Detailed design work to improve safety on Highway 28, a critical transportation route serving the Cold Lake oil sands deposits and the Cold Lake 4th Wing Air Base.
- $225 million over three years for school projects across Alberta, including for planning and design of five new school projects in the north
- $189 million over three years for the Beaverlodge Health Centre replacement
- $111 million is being provided for affordability and wage-top-up grants to child care operators in northern Alberta.
- $101 million over three years to twin Highway 63 North of Fort McMurray
- $87 million over three years for the La Crete bridge
- $80 million over three years for the La Crete Maternity and Community Health Centre
- $2 million in 2025-26 for the expansion and upgrades of Keyano College in Fort McMurray to provide an enhanced learning environment for in-demand programs like nursing and paramedicine to help address labour needs in Alberta’s health care system.
Related information
- NRED Program
- NADB
- Northern Alberta Development Council (NADC)
- Film and Television Tax Credit
Related news
- Enhancing safety and economic growth in the north (March 4, 2025)
- Cultivating economic growth in rural Alberta (May 3, 2024)
Multimedia
- Watch the news conference
MIL OSI Canada News –
March 19, 2025
MIL-OSI USA: U.S. Files Civil Forfeiture Complaint Against Aircraft Used by Nicolás Maduro Moros in Violation of U.S. Sanctions and Export Control Laws

Source: US State of California

Note: View the forfeiture complaint.

The United States today filed a civil forfeiture complaint in the Southern District of Florida against a Dassault Falcon 900 EX aircraft, bearing tail number T7-ESPRT, which was smuggled from the United States under false pretenses and operated for the benefit of Nicolás Maduro Moros (Maduro) and his representatives in the Bolivarian Republic of Venezuela (the Maduro Regime) in violation of U.S. sanctions and export control laws. The aircraft was seized last year in the Dominican Republic at the request of the United States.

Today’s filing alleges that the Dassault Falcon 900 EX aircraft was purchased and maintained in violation of U.S. sanctions against Maduro and the Maduro Regime. According to the complaint, the aircraft is forfeitable based on violations of U.S. law, including the International Emergency Economic Powers Act (IEEPA) and money laundering violations.

Since 2014, the United States has imposed sanctions against targeted individuals, entities, and sectors in Venezuela to address the increasing political oppression and corruption in Venezuela by the Maduro Regime. On March 8, 2015, the President found that the situation in Venezuela constituted an unusual and extraordinary threat to the national security, foreign policy, and economy of the United States and declared a national emergency pursuant to IEEPA to deal with that threat. See Executive Order (E.O.) 13692.

In 2017, 2018, and 2019, President Trump took additional steps regarding the national emergency declared in E.O. 13692. On Aug. 5, 2019, the President issued E.O. 13884 “in light of the continued usurpation of power by Nicolás Maduro and persons affiliated with him, as well as human rights abuses, including arbitrary or unlawful arrest and detention of Venezuelan citizens, interference with freedom of expression, including for members of the media, and ongoing attempts to undermine Interim President Juan Guaidó and the Venezuelan National Assembly’s exercise of legitimate authority in Venezuela.”

E.O. 13884 prohibits the making of any contribution or provision of funds, goods, or services by, to, or for the benefit of any person whose property and interests in property are blocked pursuant to the order, including the Government of Venezuela and the Maduro Regime; the receipt of any contribution or provision of funds, goods, or services from any such person; and, any transaction that evades or avoids, has the purpose of evading or avoiding, causes a violation of, or attempts to violate any of the prohibitions set forth in the order.

The complaint alleges that on or about Jan. 23, 2023, a company purportedly based in the Caribbean island country of St. Vincent and the Grenadines (Foreign Company 1) entered into a contract to purchase the Dassault Falcon 900 EX aircraft from a company in Florida for $13,250,000. The complaint further alleges that the individual in charge of purchasing the aircraft purportedly on behalf of Foreign Company 1 was a Venezuelan national (Foreign Principal 1), who concealed the fact that he was representing or associated with the Maduro Regime.

The complaint further alleges that Foreign Company 1 merely acted as a nominee owner of the Dassault Falcon 900 EX aircraft as it was formed shortly before the purchase, in June 2022, and was struck from the register of St. Vincent companies for failure to pay annual fees two years later, in May 2024.

The complaint further alleges that funds used to purchase the Dassault Falcon 900EX aircraft were sent via multiple wire transfers from different countries, including Malaysia, using both U.S. dollars and euros, and that Foreign Company 1 used an email address with a “.ae” domain from the United Arab Emirates to correspond with the Florida-based seller even though Foreign Company 1’s representatives allegedly had Spanish names and some of the emails contained the phrase “Enviado desde mi iPhone,” or Spanish for “Sent from my iPhone.”

The complaint further alleges that the Dassault Falcon 900 EX aircraft was flown from the United States to St. Vincent on or about April 3, 2023, and approximately five hours later, it departed for Caracas, Venezuela, piloted by two members of the Venezuelan Presidential Honor Guard, and accompanied by a second aircraft that operates out of a Venezuelan military base.

The complaint further alleges that, since May 2023, the Dassault Falcon 900 EX aircraft has flown to and from Venezuela at least 21 times and Maduro has been seen traveling with the aircraft on official visits to other countries, including for a December 2023 prisoner exchange with the United States.

As alleged, in March 2024, the Dassault Falcon 900 EX aircraft was flown to the Dominican Republic for service and maintenance where Foreign Company 1 held itself out to be the owner, concealing from the Dominican-based jet maintenance company that the aircraft had been purchased and operated for benefit of the Maduro Regime.

The complaint further alleges that on at least two occasions in May 2024, Foreign Principal 1, purportedly acting on behalf of Foreign Company 1, and other Venezuelan individuals, including military personnel, attempted to retrieve the Dassault Falcon aircraft from the Dominican Republic.

Following the attempts by the Venezuelan individuals to retrieve the Dassault Falcon 900 EX aircraft, the U.S. government obtained a seizure warrant and requested that the Dominican Republic seize, detain, and transfer the Dassault Falcon aircraft. Pursuant to U.S. request, the aircraft was transported back to the United States on Sept. 2, 2024. That same day, the Maduro Regime issued a statement admitting the Dassault Falcon aircraft “has been used by” Maduro.

A second Dassault Falcon aircraft identified by the Treasury Department’s Office of Foreign Assets Control (OFAC) as blocked property of Petroleos de Venezuela, S.A. (PdVSA), the sanctioned Venezuelan state-owned oil and natural-gas company, and illegally serviced and maintained in violation of U.S. sanctions, also was seized in the Dominican Republic at the request of the United States government on Feb. 6, 2025.

The Department of Commerce Bureau of Industry and Security Miami Field Office is investigating the case, along with the Department of Homeland Security, Homeland Security Investigations (HSI) Santo Domingo.

Assistant U.S. Attorneys Joshua Paster and Jorge Delgado for the Southern District of Florida and Trial Attorney Ahmed Almudallal of the National Security Division’s Counterintelligence and Export Control Section are handling the matter.

The Justice Department’s Office of International Affairs and HSI El Dorado Task Force Miami provided significant assistance in working with authorities in the Dominican Republic. The United States thanks the Dominican Republic for its assistance in this matter.

MIL OSI USA News –

March 19, 2025

Category: Business

Multimillion-pound investment gives rocket boost to South West space sector

Background:

Share this page

Updates to this page

News release

Quotes

Quick facts

Associated links

Contacts

Beware of sea foam

Where is the sea foam coming from?

What can be done about it?

Sea foam is a global issue

Empowering all developers and innovators with agentic AI

Expanding Azure AI Infrastructure with NVIDIA

Empowering businesses with Azure AI Infrastructure

Creating new possibilities for innovators across industries

Experience the latest innovations from Azure and NVIDIA

Palestine Says Death Returns to Gaza, Israel Says Hamas Responsible

Some Council Members Also Point to Hamas

Others Point to Israel’s Responsibility as Occupying Power

Topics

Media Enquiries

Cantwell Leads Seattle Doctors and Patients in Saying No to Medicaid Cuts

Cantwell releases second snapshot report featuring new data about Medicaid’s crucial role in keeping Seattle-area residents healthy

Privatisation of space

Who is an ‘astronaut’?

Airstrikes resume, aid blocked

Worst fears materialised

Ceasefire gains reversed

Concerns grow over West Bank

Call for urgent action

Trump’s goal

Current military situation

Russia’s immediate goal

Russia’s reputation

Jobs, Economy and Trade:

Northern Development:

Education:

Health:

Transportation and Economic Corridors:

Advanced Education:

Other Supports:

Quick facts:

Related information

Related news

Multimedia