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Category: Business

  • MIL-OSI Global: The child boss in ‘Severance’ reveals a devastating truth about work and child-rearing in the 21st century

    Source: The Conversation – USA – By Anna Mae Duane, Professor of English, University of Connecticut

    Miss Huang is, in many ways, capitalism’s ideal child. Apple TV+

    In the second season of “Severance,” there’s an unexpected character: a child supervisor named Miss Huang, who matter-of-factly explains she’s a child “because of when I was born.”

    Miss Huang’s deadpan response is more than just a clever quip. Like so much in the Apple TV+ series, which has broken viewership records for the streaming service, I think it reveals a devastating truth about the role of work in the 21st century.

    As a scholar of childhood studies, I also see historical echoes: What constitutes a “child” – and whether one gets to claim childhood at all – has always depended on when and where a person is born.

    An age of innocence?

    Americans are deeply invested in the idea of childhood as a time of innocence, with kids protected by doting adults from the harsh realities of work and making ends meet.

    However, French historian Philippe Ariès famously argued that childhood, as many understand it today, simply did not exist in the past.

    The 14th-century painting ‘Madonna of Veveri’ depicts a young child with adultlike proportions.
    The Print Collector/Getty Images

    Using medieval art as one resource, Ariès pointed out that children were often portrayed as miniature adults, without special attributes, such as plump features or silly behaviors, that might mark them as fundamentally different from their older counterparts.

    Looking at baptism records, Ariès also discovered that many parents gave siblings the same name, and he explained this phenomenon by suggesting that devastatingly high child mortality rates prevented parents from investing the sort of love and affection in their children that’s now considered a core component of parenthood.

    While historians have debated many of Ariès’ specific claims, his central insight remains powerful: Our modern understanding of childhood as a distinct life stage characterized by play, protection and freedom from adult responsibilities is a relatively recent historical development. Ariès argued that children didn’t emerge as a focus of unconditional love until the 17th century.

    Kids at work

    The belief that a child deserves a life free from the stress of the workplace came along still later.

    After all, if Miss Huang had been born in the 19th century, few people would question her presence in the workplace. The Industrial Revolution yielded accounts of children working 16-hour days and accorded no special protection because of their tender age and emotional vulnerability. Well into the 20th century, children younger than Miss Huang routinely worked in factories, mines and other dangerous environments.

    To today’s viewers of “Severance,” the presence of a child supervisor in the sterile, oppressive workplace of the show’s fictional Lumon Industries feels jarring precisely because it violates the deeply held belief that children are occupants of a separate sphere, their innocence shielding them from the dog-eat-dog environs of competitive workplaces.

    Lewis Hine’s 1908 photograph of girls working at Newberry Mills in Newberry, S.C.
    Library of Congress

    Childhood under threat

    As a child worker, Miss Huang might seem like an uncanny ghost of a bygone era of childhood. But I think she’s closer to a prophet: Her role as child-boss warns viewers about what a work-obsessed future holds.

    Today, the ideal childhood – access to play, care and a meaningful education – is increasingly under threat.

    As politicians and policymakers insist that children are the future, many of them refuse to support the intensive caregiving required to transform newborns into functioning adults. As philosopher Nancy Fraser has argued, capitalism relies on someone doing that work, while assigning it little to no monetized value.

    Child-rearing in the 21st century exists within a troubling paradox: Mothers provide unpaid child care for their own children, while those who professionally care for others’ children – predominantly women of color and immigrants – receive meager compensation for this essential work.

    In other words, economic elites and the politicians they support say they want to cultivate future workers. But they don’t want to fund the messy, inefficient, time-consuming process that raising modern children requires.

    The show’s name comes from a “severance” procedure that workers undergo to separate their work memories from their personal ones. It offers a darkly comic version of work-life balance, with Lumon office workers able to completely disconnect their work selves from their personalities off the clock. Each is distinct: A character’s “innie” is the person they are at the job, and their “outtie” is who they are at home.

    I see this as an apt metaphor for how market capitalism seeks to separate the slow, patient work required to raise children and care for other loved ones from the cold-eyed pursuit of economic efficiency. Parents are expected to work as if they don’t have children and raise children as if they don’t work.

    The result is a system that makes traditional notions of childhood – with its unwieldy dependencies, its inefficient play and its demands for attention and care – increasingly untenable.

    Capitalism’s ideal child

    Plummeting global fertility rates around the world speak to this crisis in child care, with the U.S., Europe, South Korea and China falling well below the birth rate required to replace the existing population.

    Even as Elon Musk frets about women choosing not to have children, he seems eager to restrict any government aid that would provide the time or resources that raising children requires.

    Accessible health care, affordable, healthy food and stable housing are out of the reach of many. The current administration’s quest for what it calls “government efficiency” is poised to shred safety net programs that help millions of low-income children.

    In the midst of this dilemma, Miss Huang offers a surreal solution to the problems children pose in 2025.

    She is, in many ways, capitalism’s ideal child. Already a productive worker as a tween, she requires no parent’s time, no teacher’s patience and no community’s resources. Like other workers and executives at Lumon, she seems to have shed the inefficient entanglements of family, love and play.

    In this light, Miss Huang’s clever insistence that she is a child “because of when I was born” is darkly prophetic. In a world where every moment must be productive, where caregiving is systematically devalued and where human relationships are subordinated to market logic, Miss Huang represents a future where childhood survives only as a date on a birth certificate. All the other attributes are economically impractical.

    Viewers don’t yet know if she’s severed. But at least from the perspective of the other workers in the show, Miss Huang works ceaselessly and, in doing so, proves that she is no child at all.

    Or rather, she is the only kind of child that America’s economic system allows to thrive.

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

    – ref. The child boss in ‘Severance’ reveals a devastating truth about work and child-rearing in the 21st century – https://theconversation.com/the-child-boss-in-severance-reveals-a-devastating-truth-about-work-and-child-rearing-in-the-21st-century-249123

    MIL OSI – Global Reports –

  • MIL-OSI Global: Learning ethics − one Marvel movie at a time

    Source: The Conversation – USA – By James Calvin Davis, Professor of Religion, Middlebury

    Philosophically, there’s more to many superhero movies than first meets the eye. Daniel Fung/SOPA Images/LightRocket via Getty Images

    Uncommon Courses is an occasional series from The Conversation U.S. highlighting unconventional approaches to teaching.

    Title of course:

    Ethics in the MCU

    What prompted the idea for the course?

    As a die-hard fan of the Marvel Cinematic Universe, I rewatch the movies and series on a regular basis. As an ethicist, I can’t help but notice that the MCU raises some really tough moral questions.

    Yes, the movies are about monsters and magic and things exploding, but they are also about racial prejudice, power and obligation, artificial intelligence, biotechnological enhancement and colonization. They center complicated questions about right and wrong, moral character and unintended consequences.

    The more I rewatched them, the more I was convinced that this would be a great way to introduce students to the study of ethics. So when my time came again to offer a first-year seminar, I constructed one around watching superheroes at work. Leading new college students through an ethical analysis of Marvel movies seemed like an opportunity to work on useful intellectual skills in a low-pressure environment. Not a bad way to start college!

    What does the course explore?

    I structured the course around specific moral questions and then used an MCU film or series to get the students thinking about those questions.

    For instance, the challenges faced by the female protagonist in “Captain Marvel” gave us an opportunity to talk more broadly about gender, empowerment and respect for women’s leadership, as did the brutal reaction to the movie by some comic book bros.

    The antagonist in “Black Panther” takes over the African country of Wakanda in order to ignite a global anticolonial uprising, and we used his perspective to think about the ethics of racial oppression, reparations and violent resistance.

    Captain America’s best friend, Bucky Barnes, who was captured and brainwashed into serving as a covert assassin for decades, has to deal with the consequences of his actions once he recovers his true self. Bucky’s situation invited us to talk about the relationship between intention and complicity in our moral judgments.

    And the most fascinating conversation I had in the entire semester was about the utilitarian calculus of the supervillain Thanos, who appears in the “Infinity War” and “Endgame” films. Overpopulation led to the destruction of Thanos’ home planet, and his fear that the whole cosmos could meet a similar fate drives him to wipe out half of all life in the universe.

    Was he justified? Our discussions explored the ethical limits of utilitarian calculations. To my shock, half of the class eventually came to the conclusion that Thanos may have had a moral point.

    Why is this course relevant now?

    While it is helpful to talk about moral responsibility theoretically, or with reference to real headlines, narrative is another useful way to get students to think about the ethical choices people make and how we make them. This is one way the arts and humanities can serve the liberal arts project, preparing young people for democratic citizenship.

    Stories serve as fictional but concrete “case studies” through which students can think about themselves and others as moral actors. By focusing on other characters, stories encourage our moral imagination and empathy. Rather than reducing ethical issues to abstraction, stories remind us that moral choices are made within particular circumstances and relationships.

    What materials does the course feature?

    Our main “texts” for the semester were movies and series we watched and discussed with certain moral questions in mind. In conjunction, we read short pieces on ethical theory to give students a tool kit for analyzing those issues. Authors ranged from classical writers such as Aristotle and 19th-century philosopher John Stuart Mill to more modern perspectives such as Martin Luther King Jr., theologian James Cone and philosopher Martha Nussbaum.

    We also read parts of two awesome books making similar connections: “The Politics of the Marvel Cinematic Universe,” edited by Nicholas Carnes and Lilly J. Goren, and “Marveling Religion,” edited by Jennifer Baldwin and Daniel White Hodge.

    What will the course prepare students to do?

    I hope the course provides students a fun chance to develop capacities for ethical thinking at the beginning of their college career. Public discourse in the United States, which is the focus of my teaching and scholarship, could use more citizens with greater skill in moral discernment, and these days we all could use more fun. Why not do something that is entertaining but also has intellectual integrity and social usefulness?

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

    – ref. Learning ethics − one Marvel movie at a time – https://theconversation.com/learning-ethics-one-marvel-movie-at-a-time-247308

    MIL OSI – Global Reports –

  • MIL-OSI United Kingdom: Sniffer dogs help to seize illegal vapes and cigarettes

    Source: City of Coventry

    Sniffer dogs, have been helping Coventry Police and Council Trading Standards Officers to hunt down thousands of illegal vapes and cigarettes, during city raids.

    The Council and Police’s local neighbourhood teams have joined forces with four-legged working cocker spaniels Sky and Louis – both are trained to sniff out hidden compartments of tobacco, vapes and money.

    The tobacco detection dogs have been offering a helping paw as part of a crackdown at shops across Coventry.

    The dogs helped sniff out illicit goods at five city centre premises and even indicated that there was tobacco behind false walls, inside furniture and inside vehicles, which officers eventually accessed to find the goods inside.

    At one location a substantial amount of N2O, better known as Nox or Noz, was also seized and will now be investigated by the Police.

    Each incident where illicit goods were recovered will be now investigated.  

    Councillor Abdul Salam Khan, Cabinet member for Police and Deputy Leader at Coventry City Council, said:

    “Our Trading Standards team go above and beyond in their pursuit of illegal vapes and cigarettes, as is shown with this very successful operation.

    “Hiring Sky and Louis, who did an excellent job, was a fantastic way of protecting the health of our residents and keeping local children safe from underage sales.

    “With the ongoing help of partners, West Midlands Police we are very effective in dealing with this problem.

    “Anyone who knows of retailers selling illegal goods, or selling age restricted goods to children, can tell our Trading Standards team about it via our online reporting form found by searching ‘Coventry Trading Standards’.”

    Wednesday, 5th March 2025

    MIL OSI United Kingdom –

  • MIL-OSI: Byrna Technologies Announces Preliminary Fiscal First Quarter 2025 Record Revenue of $26.2 Million

    Source: GlobeNewswire (MIL-OSI)

    ANDOVER, Mass., March 05, 2025 (GLOBE NEWSWIRE) — Byrna Technologies Inc. (“Byrna” or the “Company”) (Nasdaq: BYRN), a technology company, specializing in the development, manufacture, and sale of innovative less-lethal personal security solutions, today announced select preliminary financial results for the fiscal first quarter ended February 28, 2025.

    Preliminary First Quarter Results
    Based on preliminary unaudited results, the Company expects total revenue for the fiscal first quarter of 2025 to be $26.2 million, representing a 57% increase compared to $16.7 million in the fiscal first quarter of 2024. The significant year-over-year growth in first quarter revenue is primarily attributable to the continued success of Byrna’s marketing strategies and increased production levels at Byrna’s Fort Wayne, Indiana factory.

    As a result, Byrna’s e-commerce channels were up $6.7 million over last year, representing 74% of Byrna’s total sales for the quarter. To meet heightened demand and support its growth initiatives for 2025, Byrna produced a record 68,916 launchers in the first quarter, a 26% increase from the fourth quarter of 2024 and a 219% increase year-over-year. Dealer sales also experienced strong growth, rising $1.9 million year-over-year.

    Management Commentary
    “We are gratified to see the growth in Q1, as this is the first year-over-year quarterly comparison where we were comparing our performance against a prior year quarter where we had implemented our celebrity endorsement strategy,” said Byrna CEO Bryan Ganz. “Historically, Q1 has been our slowest quarter, yet sales decreased only 6% sequentially from what is our seasonally strongest quarter of the fiscal year. This success is a testament to the growing brand awareness that we have built since pivoting our marketing strategy in 2023.

    “To support our ambitious growth targets, we produced a record 68,916 launchers in the quarter. With new celebrity influencers including Megyn Kelly, Lara Trump, and Donald Trump Jr., an expanding retail store presence, the kickoff of our store-within-a-store partnership with Sportsman’s Warehouse, and the launch of the Compact Launcher, we are well-positioned to continue our strong growth trajectory throughout 2025.”

    Preliminary Fiscal First Quarter 2025 Sales Breakdown:      
    Sales Channel ($ in millions) Q1 2025 Q1 2024 % Change
    Web 19.4  12.7  53 %
    Byrna Dedicated Dealers 4.4  2.5  76 %
    Law Enforcement / Schools / Pvt Security 0.0  0.0  0 %
    Retail Stores 0.3  0.2  53 %
    International 2.0  1.3  56 %
    Total Sales 26.2  16.7  57 %


    Tariff Exposure Update
    Byrna remains well-positioned to navigate evolving trade policies with minimal impact on its cost structure. As previously stated, Byrna sources no critical components from Mexico or Canada, and its limited exposure to China is mitigated by a dual-sourcing strategy. The Company is on track to move most, if not all of the current supply chain to the United States in 2025, reinforcing its commitment to domestic manufacturing. Additionally, higher tariffs on Chinese goods could benefit Byrna by raising costs for competitors that rely on China for production.

    Conference Call
    Byrna plans to report its full financial results for the fiscal first quarter in April, which will be accompanied by a conference call to discuss the results and address questions from investors and analysts. The conference call details will be announced prior to the event.

    About Byrna Technologies Inc.
    Byrna is a technology company specializing in the development, manufacture, and sale of innovative non-lethal personal security solutions. For more information on the Company, please visit the corporate website here or the Company’s investor relations site here. The Company is the manufacturer of the Byrna® SD personal security device, a state-of-the-art handheld CO2 powered launcher designed to provide a non-lethal alternative to a firearm for the consumer, private security, and law enforcement markets. To purchase Byrna products, visit the Company’s e-commerce store.

    Forward-Looking Statements
    This news release contains “forward-looking statements” within the meaning of the securities laws. All statements contained in this news release, other than statements of current and historical fact, are forward-looking. Often, but not always, forward-looking statements can be identified by the use of words such as “plans,” “expects,” “intends,” “anticipates,” and “believes” and statements that certain actions, events or results “may,” “could,” “would,” “should,” “might,” “occur,” “be achieved,” or “will be taken.” Forward-looking statements include descriptions of currently occurring matters which may continue in the future. Forward-looking statements in this news release include, but are not limited to, our statements related to preliminary revenue results for the first fiscal quarter 2025, the timing of the release of full financial results for the quarter, expectations for future sales growth and demand trends, the impact of marketing strategies, the anticipated performance of new products and retail store expansion, and the Company’s ability to sustain momentum throughout 2025.Forward-looking statements are not, and cannot be, a guarantee of future results or events. Forward-looking statements are based on, among other things, opinions, assumptions, estimates, and analyses that, while considered reasonable by the Company at the date the forward-looking information is provided, inherently are subject to significant risks, uncertainties, contingencies, and other factors that may cause actual results and events to be materially different from those expressed or implied.

    Any number of risk factors could affect our actual results and cause them to differ materially from those expressed or implied by the forward-looking statements in this news release, including, but not limited to, disappointing market responses to current or future products or services; prolonged, new, or exacerbated disruption of the Company’s supply chain; the further or prolonged disruption of new product development; production or distribution or delays in entry or penetration of sales channels due to inventory constraints, competitive factors, increased shipping costs or freight interruptions; prototype, parts and material shortages, particularly of parts sourced from limited or sole source providers; determinations by third party controlled distribution channels not to carry or reduce inventory of the Company’s products; determinations by advertisers to prohibit marketing of some or all Byrna products; the loss of marketing partners or endorsers; potential cancellations of existing or future orders including as a result of any fulfillment delays, introduction of competing products, negative publicity, or other factors; product design defects or recalls; litigation, enforcement proceedings or other regulatory or legal developments; changes in consumer or political sentiment affecting product demand; regulatory factors including the impact of commerce and trade laws and regulations; import-export related matters or tariffs, sanctions or embargos that could affect the Company’s supply chain or markets; delays in planned operations related to licensing, registration or permit requirements; and future restrictions on the Company’s cash resources, increased costs and other events that could potentially reduce demand for the Company’s products or result in order cancellations. The order in which these factors appear should not be construed to indicate their relative importance or priority. We caution that these factors may not be exhaustive; accordingly, any forward-looking statements contained herein should not be relied upon as a prediction of actual results. Investors should carefully consider these and other relevant factors, including those risk factors in Part I, Item 1A, (“Risk Factors”) in the Company’s most recent Form 10-K, should understand it is impossible to predict or identify all such factors or risks, should not consider the foregoing list, or the risks identified in the Company’s SEC filings, to be a complete discussion of all potential risks or uncertainties, and should not place undue reliance on forward-looking information. The Company assumes no obligation to update or revise any forward-looking information, except as required by applicable law.

    Investor Contact:
    Tom Colton and Alec Wilson
    Gateway Group, Inc.
    949-574-3860
    BYRN@gateway-grp.com

    The MIL Network –

  • MIL-OSI: Asphalt Ridge Option Period to Acquire Remaining 17.75% Working Interest Extended to April 10, 2025 and non-binding Letter of Intent to acquire Novacor oil and gas assets extended to March 15, 2025.

    Source: GlobeNewswire (MIL-OSI)

    Bakersfield, CA, March 05, 2025 (GLOBE NEWSWIRE) — Trio Petroleum Corp (NYSE American: “TPET”, “Trio” or the “Company”), a California-based oil and gas company, today provided updates on its Asphalt Ridge Project in Uintah County, Utah, and its intent to acquire a 100% working interest in certain petroleum and natural gas properties held by Novacor Exploration Ltd. which are located in the prolific Lloydminster, Saskatchewan heavy oil region.

    Asphalt Ridge Project

    TPET announced on January 5, 2024, that it had secured an option (the “Option”) to acquire a 20% interest in a sweet (i.e., low sulfur content), heavy-oil and tar-sand development project at Asphalt Ridge, located near the town of Vernal in Uintah County, northeastern Utah. We announced on June 11, 2024, the successful drilling and completion of the first two exploratory wells at the project, the HSO 2-4 and HSO 8-4 and that the wells encountered substantial oil-bearing pay zones in the Rimrock and Asphalt Ridge tar-sands (over 190’of oil-pay in HSO 2-4 and over 100’ of oil-pay in HSO 8-4).

    TPET currently owns a 2.25% working interest in 960 acres at Asphalt Ridge, and under the Option may acquire up to an additional 17.75% working interest in the same 960 acres and also a 20% interest in an adjacent 1,920 acres, and also has a right of first refusal to participate in an additional approximate 30,000 acres of the greater Asphalt Ridge Project on terms offered to other third parties. TPET has secured an Option extension and now has until April 10, 2025, to exercise its right to acquire the remaining 17.75% interest in the initial 960 acres. 

    The Asphalt Ridge Project is known to be one of the largest heavy-oil and tar-sand deposits in North America outside of Canada, making it a potential giant oilfield, and is unique given its low wax and negligible sulfur content, which is expected to make the oil very desirable for many industries, including shipping. A typical project well has an estimated ultimate recovery (“EUR”) of 300,000 barrels of oil with an initial production rate of approximately 40 barrels of oil per day.

    Novacor Exploration Ltd Oil and Gas Assets

    TPET announced on December 19, 2024, that it had entered into a non-binding Letter of Intent (“LOI”) for the acquisition of a 100% working interest in certain petroleum and natural gas properties held by Novacor Exploration Ltd. (“Novacor”), which are located in the prolific Lloydminster, Saskatchewan heavy oil region (the “Acquisition”). “The Lloydminster area has seen noteworthy activity from top produces both large and small as the areas thermal and heavy oil projects are key operational focuses for public companies from Cenovus and Strathcona to Lycos Energy, along with a healthy pool of private companies. Unlike other more costly plays in Canada, Lloydminster “per well” costs are not prohibitive for many small producers as the wells are generally shallow, with an average true vertical depth of just under 1830 feet.” (BOE Report February 27, 2024). In the event that Trio consummates the Acquisition, it believes that it could strategically position itself to expand its operations into one of North America’s most promising heavy oil basins, with upside potential for long term production and reserve growth. Since the Novacor assets are in the heavy oil area, they offer economical development. Market accessibility combined with a favorable regulatory process makes this area very attractive for continued and future development within these lands.

    There are currently seven producing wells located on the two properties. The wells produce heavy crude oil from the McLaren/Sparky and Lloydminster formation(s). Novacor is the operator of these cash flow positive wells. Current production is approximately 70 barrels per day with potential for 4 additional re-entry wells and two fully equipped locations to be reactivated each capable of an additional 70 barrels in total per day. Trio and Novacor mutually agreed to extend the execution of definitive acquisition documents to March 15, 2025. Trio plans to negotiate an additional extension if documents are not completed and executed by that date.

    About Trio Petroleum Corp

    Trio Petroleum Corp is an oil and gas exploration and development company headquartered in Bakersfield, California, with operations in Monterey County, California, and Uintah County, Utah. In Monterey County, Trio owns a 85.75% working interest in 9,245 acres at the Presidents and Humpback oilfields in the South Salinas Project, and a 21.92% working interest in 800 acres in the McCool Ranch Field. In Uintah County, Trio owns a 2.25% working interest in 960 acres and options to acquire up to an additional 17.75% working interest in the 960 acres, and also a 20% working interest in an adjacent 1,920 acres, and a right of first refusal to participate in up to a 20% working interest in an additional approximate 30,000 acres of the Asphalt Ridge Project with other third parties.

    Cautionary Statement Regarding Forward-Looking Statements

    All statements in this press release of Trio Petroleum Corp (“Trio”) and its representatives and partners that are not based on historical fact are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Acts”). In particular, when used in the preceding discussion, the words “estimates,” “believes,” “hopes,” “expects,” “intends,” “on-track”, “plans,” “anticipates,” or “may,” and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Acts and are subject to the safe harbor created by the Acts. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. While management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, many of which are outside of the Trio’s control, that could cause actual results to materially and adversely differ from such statements. Such risks, uncertainties, and other factors include, but are not necessarily limited to, those set forth in the Risk Factors section of the Trio’s S-1 filed with the Securities and Exchange Commission (SEC). Copies are of such documents are available on the SEC’s website, www.sec.gov. Trio undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

    Investor Relations Contact:
    Redwood Empire Financial Communications
    Michael Bayes
    (404) 809 4172
    michael@redwoodefc.com

    The MIL Network –

  • MIL-OSI Economics: New sales agents accessible in Microsoft 365 Copilot help teams close more deals, faster

    Source: Microsoft

    Headline: New sales agents accessible in Microsoft 365 Copilot help teams close more deals, faster

    Our ambition is to empower every employee with a Copilot and transform every business process with agents. We’re announcing two new agents that apply this ambition to sales—the revenue engine for every business—and can be used right in the flow of work.

    Our ambition is to empower every employee with a Copilot and transform every business process with agents. Today, we’re announcing two new agents that apply this ambition to sales—the revenue engine for every business—that can be used right in the flow of work:

    • Sales Agent turns contacts into qualified leads, letting your reps close the biggest deals while the agent ensures that no lead is left behind. It can work autonomously around the clock to grow your pipeline—researching leads, setting up meetings, and reaching out to customers. For some low-impact leads, it can even complete a sale. The agent draws on your CRM, company data like price sheets, and the web—along with Microsoft 365 data such as emails and meetings—to personalize every response.
    • Sales Chat helps accelerate the sales cycle, from getting up to speed on new accounts to preparing for customer meetings. It gives sales reps actionable takeaways from CRM data, pitch decks, meetings, emails, and the web—so they can spend less time digging and more time selling. All it takes is a simple, natural language prompt like “give me a list of deals that are at risk of falling through,” “what should I know going into tomorrow’s meeting with this customer?” or “help me create a plan to close this deal.”

    These agents can be accessed in both Microsoft 365 Copilot and Microsoft 365 Copilot Chat. They connect to both Microsoft Dynamics 365 and Salesforce, so sales reps can nurture and close deals without even opening their CRM. And they can be fine-tuned to connect to all your business data, ensuring accurate, actionable responses. Both agents will be available in public preview in May.

    Try Microsoft 365 Copilot Chat today

    Companies of all sizes are going big with Copilot and agents

    Nearly 70% of Fortune 500 companies use Copilot, and in the last quarter alone, organizations built more than 400,000 custom agents in Microsoft Copilot Studio. Today, on WorkLab, we’re sharing stories from 31 companies across industries—from The Estée Lauder Companies to Newman’s Own to Holland America Line—using Copilot and agents to optimize costs, grow revenue, and transform their business. Vodafone projects to double or triple the number of requests for proposals its sales team can respond to each week. And Campari Group is cutting marketing campaign copy costs by 18%.

    “We’ve seen tremendous growth since migrating from Salesforce to Dynamics 365 Sales. Our sales organization has experienced an increase of 133% year-over-year revenue per head with 111% year-over-year growth overall. When we layered on Microsoft 365 Copilot, sellers realized 30 minutes of time saved per day, while pipeline generation has increased by 20%.”

    –Richard Thompson, CEO, ANS

    New Microsoft AI Accelerator for Sales program

    To help more customers accelerate their AI transformation, we’re also excited to announce Microsoft AI Accelerator for Sales. This exclusive offering includes access to AI experts at Microsoft to help customers migrate from legacy CRM systems and aid with seller adoption, plus fine-tuning to personalize the output of agents to meet your unique business needs. Participating organizations will have access to AI Accelerator for Sales beginning April 1. Contact your Microsoft representative to learn more.

    MIL OSI Economics –

  • MIL-OSI China: China eases tech M&A loan rules in pilot program to boost innovation

    Source: People’s Republic of China – State Council News

    BEIJING, March 5 — China has announced a series of relaxed rules for merger and acquisition (M&A) loans targeting tech companies in a pilot program aimed at channeling more capital into sci-tech innovation and enhancing China’s technological competitiveness, according to the country’s financial regulator on Wednesday.

    Amid efforts to address long-standing financing challenges for tech companies engaged in strategic mergers, banks participating in the pilot program are now permitted to lend up to 80 percent of transaction values for acquisitions involving controlling stakes in tech firms, up from the previous 60 percent cap, according to China’s National Financial Regulatory Administration.

    Loan repayment periods have also been extended to a maximum of 10 years, compared to the prior seven-year limit.

    Standards for cities, banks and tech firms involved in the pilot program have been formulated based on consultations with the National Development and Reform Commission, the Ministry of Science and Technology, and the Ministry of Industry and Information Technology, according to an administration official.

    The pilot program spans 18 cities, including Beijing, Shanghai, Shenzhen and Chengdu, and focuses on cities with robust innovation ecosystems, such as those within the Beijing-Tianjin-Hebei cluster, the Yangtze River Delta and the Greater Bay Area, as well as regional hubs in Wuhan, the Chengdu-Chongqing area and Xi’an.

    Eligible banks include major state-owned lenders, joint-stock banks and urban commercial banks with strong risk management capabilities, while tech companies eligible for these loans must demonstrate strong research and development capabilities, clear market potential in the commercialization of technologies, and solid credit histories, according to the official.

    The regulator has pledged to monitor fund usage closely, and to cultivate specialized financial teams to ensure the effective implementation of the pilot program, offering functional financial support for tech company M&As.

    MIL OSI China News –

  • MIL-OSI Australia: Operation Protego

    Source: Australian Department of Revenue

    About Operation Protego

    Operation Protego is an ATO-led investigation into large-scale GST fraud that was promoted particularly on social media. The attempted fraud involves an individual:

    • inventing a fake business
    • lodging a fraudulent Australian business number (ABN) application, and
    • submitting fictitious business activity statements (BAS) to attempt to gain a false GST refund.

    In May 2022 we issued warnings to the community to be on the lookout for fraud schemes being promoted through social media and other channels. We advised those who were involved to come forward.

    The most serious offenders of financial crime are referred to the ATO-led Serious Financial Crime Taskforce (SFCT), including individuals involved in Operation Protego. The SFCT is taking firm action against individuals, facilitators and promoters suspected of defrauding the community by inventing fake businesses to claim false GST refunds.

    You need to check the facts – nobody is giving money away for free or offering loans that don’t need to be paid back. Simply speaking, if you don’t operate a business, you don’t need an ABN, and you shouldn’t lodge a BAS. This is fraud.

    For those who may be tempted by the promise of big gains, the ATO has sophisticated risk models. We work with banks, law enforcement agencies and other organisations to share information and detect fraud. We also have access to intelligence through community tip offs, and other information sources. The SFCT brings together the knowledge, resources and experience of relevant law enforcement and regulatory agencies to identify and address the most serious and complex forms of financial crime.

    Latest news

    25 February 2025 – Benjamin West sentenced to 2 years jail

    Benjamin West has been sentenced to 2 years jail. He is to be released after serving 6 months in custody, on a recognisance release order of $500, and to be of good behaviour for 2 years. Mr West was also ordered to pay reparation of $49,226.

    In February 2022, Mr West applied for an Australian Business Number claiming he was providing garden and lawn maintenance services. He then knowingly provided his myGov login details to a third party who lodged 6 business activity statements, allowing Mr West to fraudulently obtain $49,226 in GST refunds before attempting to obtain a further $25,060 which was stopped by the ATO.

    An audit by the ATO determined that he was not operating a legitimate business, and therefore not entitled to the GST refunds he had claimed.

    17 February 2025 – Adam Hohenberger sentenced to 2 years and 3 months jail

    Adam Hohenberger was sentenced to 2 years and 3 months in jail for committing GST fraud. He is to be released after serving 8 months in custody, on a recognisance release order. He must be of good behaviour and be supervised by a probation officer for 19 months.

    Mr Hohenberger was charged with 22 counts of obtaining a financial advantage by deception and 16 counts of attempting to obtain a financial advantage by deception.

    In May 2020, an Australian business number (ABN) was created for a construction repair business in Mr Hohenberger’s name. In 2022, he lodged 98 business activity statements (BAS) receiving over $108,000 he was not entitled to.

    During the audit process it was discovered that Mr Hohenberger did not have the skills required to repair construction machinery and therefore he was not operating a legitimate business.

    Mr Hohenberger was also ordered to repay $108,451 to the ATO.

    29 November 2024 – Thitikorn Thanawong sentenced to 2 years and 8 months jail

    Thitikorn Thanawong recklessly dealt with $296,212 that was the proceeds of indictable crime. She spent the entire amount on holiday expenses, transfers to associates and luxury retail purchases.

    She was sentenced to 2 years and 8 months in jail, to be released on a recognisance release order after serving 10 months, upon entering recognisance of $2,000 and to be of good behaviour for 2 years.

    For more information, see Luxury spender jailed through Operation Protego.

    28 October 2024 – Craig Hamilton sentenced to 2 months and 2 weeks jail

    Craig Hamilton was sentenced to 2 months and 2 weeks jail, released immediately on a security of $500 and to be of good behaviour for 2 years for dealing with the proceeds of indictable crime. Mr Hamilton obtained and dealt with $80,000 of fraudulent funds.

    Mr Hamilton reactivated a past Australian business number (ABN) operating as a construction project manager. In February 2022, 4 business activity statements (BAS) were lodged for the business and he claimed GST refunds that he was not entitled to.

    During the audit process, several red flags were identified:

    • No website or social media presence existed for the business.
    • Reported expenses exceeded his actual earnings.
    • Identical expense amounts were reported every quarter.
    • 80% of his income came from government benefits.

    Mr Hamilton’s bank records also didn’t indicate any business expenses or wages being paid. Instead, his expenses were largely spent on fines and fees, takeout, and supermarket purchases.

    Of the $80,000 obtained, $72,905 was recovered from the bank after Mr Hamilton’s account was frozen. This left a balance of $7,094 which he was ordered to repay.

    16 October 2024 – Tahra Wyntjes sentenced to 4 years jail

    Tahra Wyntjes was sentenced to 4 years jail with a non-parole period of 2 years and 4 months. She was charged with one count of obtaining a financial advantage by deception and one count of attempting to obtain a financial advantage by deception.

    Ms Wyntjes obtained $599,349 in fraudulent GST refunds she was not entitled to and attempted to obtain a further $259,976, which was stopped by ATO officers.

    Ms Wyntjes registered for both an ABN and for GST in November 2021 for a residential cleaning business. Between November 2021 and March 2022, she lodged fraudulent BAS, which ATO officers quickly noticed and began investigating.

    Ms Wyntjes was ordered to repay $599,349 by the court.

    For more information, see Victorian woman sentenced over GST fraud.

    9 October 2024 – Aman Akol sentenced to 6 months jail

    Aman Akol was sentenced to 6 months jail, released on a security of $1,000 and good behaviour for one year. She was charged with one offence of obtaining a financial advantage by deception, and one offence of attempting to obtain a financial advantage by deception.

    Between 20 October 2021 and 2 March 2022, Ms Akol conspired with an online associate to dishonestly lodge 7 BAS for a cleaning business that did not exist. These lodgments resulted in Ms Akol fraudulently obtaining $85,759 in GST refunds she was not entitled to and attempting to obtain a further $27,960.

    Aman Akol is the sister of Arec Akol who was charged and sentenced with similar offences in January 2024.

    6 September 2024 – Lee Sheridan sentenced to 2 years jail

    On 6 September 2024, Lee Sheridan was sentenced to 2 years in jail, to be released after having served 6 months, for dealing with the proceeds of crime (GST fraud).

    Mr Sheridan received and spent fraudulent GST refunds totalling $377,820 after he provided his personal details to an individual who lodged 38 original and revised monthly BAS on his behalf.

    For more information, see Operation Protego holds Perth offender to account.

    31 May 2024 – Joshua Mitchell sentenced to 18 months in jail

    On 31 May 2024, 33-year-old Joshua Mitchell was sentenced to 18 months imprisonment, partially suspended with a $2,000 recognisance, under supervision and good behaviour. Mr Mitchell was also ordered to pay reparation of $24,200.

    Between 11 March 2022 and 2 April 2022, Mr Mitchell dishonestly lodged one original and one revised BAS, for a business that did not exist. He fraudulently obtained a total of $24,200.

    During the same period, he disposed of almost all the proceeds he had fraudulently obtained through payments to associates, streaming services and restaurants.

    26 March 2024 – Lisa McCormick sentenced to 2 years 6 months jail

    Lisa McCormick was sentenced to 2 years and 6 months jail and ordered to repay $39,600 in fraudulent funds. After serving 12 months, she will be released on a security of $5,000 and good behaviour for 18 months.

    Between 3 March 2022 and 30 April 2022, Mrs McCormick lodged 3 fraudulent BAS and as a result, received a GST refund of $39,600 which she was not entitled to. She also tried to obtain a further $9,820.

    While undergoing investigation, Mrs McCormick sent 8 false documents to the ATO which she was later charged over.

    She was charged with 2 counts of obtaining financial advantage by deception, one count of attempt to obtain financial advantage by deception, and one count of using a false document with the intention of dishonestly inducing a Commonwealth public official.

    22 January 2024 – Arec Akol sentenced to 3 months jail

    Arec Akol was sentenced to 3 months jail, released on a security of $5,000 and good behaviour for a year. She was charged with one count of obtaining financial advantage by deception.

    Ms Akol had registered an ABN for a cleaning business which didn’t exist. Seven fraudulent BAS were then lodged between 1 April 2021 and 28 February 2022.

    In total, Ms Akol claimed a GST refund of $69,461 which she was not entitled to. She was ordered to repay this amount in full.

    12 January 2024 – Adam Mitchell sentenced to a community corrections order of 15 months

    Adam Mitchell was sentenced to a community corrections order of 15 months after being charged with one offence of dealing in money or property that was the proceeds of crime worth $10,000 or more.

    Mr Mitchell had registered an ABN in 2017 and registered for GST reporting on 8 April 2022. On 22 April 2022, he lodged a fraudulent BAS claiming a GST refund of $18,000.

    In addition to the community corrections order, Mr Mitchell was ordered to repay the Commonwealth the full amount he had fraudulently claimed.

    17 November 2023 – Wayne Garrett sentenced to 3 years and 4 months jail

    Wayne Garrett was sentenced to 3 years and 4 months in jail with a non-parole period of 1 year and 9 months and ordered to repay $180,095 for GST fraud. He was charged with one count of obtaining a financial advantage by deception, one count of attempting to obtain a financial advantage by deception and one count of joint commission with a person of interest.

    Mr Garrett received $180,095 in GST refunds he was not entitled to. He also attempted to obtain a further $50,644.

    23 October 2023 – Rachel Saville sentenced to 1 year and 8 months jail

    Rachel Saville was sentenced to 1 year and 8 months jail after being charged with 4 counts of obtaining benefit by deception.

    Ms Saville reactivated an ABN for a jewellery and silver manufacturing business on 7 February 2022. Between 21 February 2022 and 26 July 2023, she lodged 63 fraudulent BAS obtaining $73,650 that she was not entitled to.

    Ms Saville also attempted to claim a further $192,983 in fraudulent GST refunds.

    For more information, see Wollongong woman jailed for GST fraud.

    30 August 2023 – Linden Phillips sentenced to 7 and a half years jail

    Linden Phillips was sentenced to 7 years and 6 months in prison with a non-parole period of 5 years. He was changed with obtaining financial advantage by deception, attempt to obtain financial advantage by deception, and deal with the proceeds of crime.

    Mr Phillips lodged false BAS which saw him fraudulently receive more than $830,000.

    For more information, see Mildura man jailed for 7 years for GST fraud.

    Update: Upon appeal, the sentence was reduced on 13 June 2024 to 6 years and 3 months with a non-parole period of 4 years.

    29 August 2023 – Justin McCormick sentenced to 2 years jail

    Justin McCormick was sentenced to 2 years jail with a 12-month non-parole period and ordered to repay almost $110,000 of funds fraudulently obtained. He was charged with 5 offences of dishonestly obtaining a financial advantage by deception from the Commissioner of Taxation.

    Mr McCormick had an ABN which had been registered between 28 March 2009 and 13 February 2015. He then re-registered this ABN on 11 February 2022 with the intent to lodge BAS for a business that did not exist and to claim GST on purchases that were never made.

    As a result of the false information reported in each BAS, McCormick obtained $109,278 in GST refunds, an amount to which he was not entitled.

    For more information, see Perth man jailed as Protego enforcement action continues.

    MIL OSI News –

  • MIL-OSI Australia: Does your NFP need to lodge an income tax return?

    Source: Australian Department of Revenue

    Taxable not-for-profit (NFP) organisations must lodge income tax returns and pay income tax on taxable income.

    The income tax return is different to the NFP self-review return. If you have been self-assessing as income tax exempt and notified us through the self-review return that your NFP is taxable, you must also lodge an income tax return or a non-lodgment advice form to meet your tax obligations for the 2023-24 income year.

    Taxable NFPs with an income year ending 30 June, must lodge their income tax return or non-lodgment advice by 15 May 2025. If your NFP has an ATO-approved substituted accounting period, check your due date to lodge the 2023–24 income tax return as it is determined by your approved balance date. Avoid last minute stress by getting started well before the due date.

    If you think your NFP is not taxable and is eligible to self-assess as income tax exempt, read the guide to Reporting requirements to self-assess income tax exemption.

    How to lodge

    If you are a taxable NFP company with less than $416 in taxable income, you can meet your NFPs lodgment obligation by completing the new downloadable non-lodgment advice form.

    All other taxable NFPs, including partnerships and trusts, must lodge an income tax return. You can lodge:

    If you will be using a new tax agent, you must first nominate them as your registered tax agent. For more detailed information about these steps you can visit how to nominate your registered agent where you can download our PDF guide How to nominate an agent in Online services for business.

    To find out more about how to lodge, check out the Not-for-profit guide to the Company tax return 2024.

    Keep up to date

    We have tailored communications for the NFP sector to keep you up to date with key tax and super information:

    MIL OSI News –

  • MIL-OSI: Arq to Participate in Water Tower Research Fireside Chat Series on March 10, 2025

    Source: GlobeNewswire (MIL-OSI)

    GREENWOOD VILLAGE, Colo., March 05, 2025 (GLOBE NEWSWIRE) — GlobeNewswire – Arq, Inc. (NASDAQ: ARQ) (the “Company” or “Arq”), a producer of activated carbon and other environmentally efficient carbon products for use in purification and sustainable materials, today announced today announced that Bob Rasmus, CEO of Arq, will participate in the Water Tower Research (“WTR”) Fireside Chat Series on Monday, March 10, 2025 at 11:00 AM Eastern Standard Time.

    This event is open access for all investors to participate. Interested parties can register for the event at the following link, https://us06web.zoom.us/webinar/register/1817411013874/WN_XaMXZ4_FSL6WxOD8B2U6mA#/registration.

    The event will also be available through the Events and Presentation section of Arq’s investor relations website at https://ir.arq.com/events-and-presentations. A replay of the webcast will also be available at this website after the event.

    About Arq

    Arq (NASDAQ: ARQ) is a diversified, environmental technology company with products that enable a cleaner and safer planet while actively reducing our environmental impact. As the only vertically integrated producer of activated carbon products in North America, we deliver a reliable domestic supply of innovative, hard-to-source, high-demand products. We apply our extensive expertise to develop groundbreaking solutions to remove harmful chemicals and pollutants from water, land and air. Learn more at: www.arq.com.

    Source: Arq, Inc.

    Investor Contact:

    Anthony Nathan, Arq
    Marc Silverberg, ICR
    investors@arq.com

    The MIL Network –

  • MIL-OSI: Form 8.3 – [Insert name of offeree or offeror]

    Source: GlobeNewswire (MIL-OSI)

    8.3

    PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
    A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
    Rule 8.3 of the Takeover Code (the “Code”)

    1.        KEY INFORMATION

    (a)   Full name of discloser: Rathbones Group Plc
    (b)   Owner or controller of interests and short positions disclosed, if different from 1(a):
            The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.    		  
    (c)   Name of offeror/offeree in relation to whose relevant securities this form relates:
            Use a separate form for each offeror/offeree    		 Assura Plc
    (d)   If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:  
    (e)   Date position held/dealing undertaken:
            For an opening position disclosure, state the latest practicable date prior to the disclosure    		 04/03/2025
    (f)   In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
            If it is a cash offer or possible cash offer, state “N/A”    		 No

    2.        POSITIONS OF THE PERSON MAKING THE DISCLOSURE

    If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

    (a)      Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

    Class of relevant security: 10p Ord
      Interests Short positions
      Number % Number %
    (1)   Relevant securities owned and/or controlled: 153,051,821 4.70%    
    (2)   Cash-settled derivatives:        
    (3)   Stock-settled derivatives (including options) and agreements to purchase/sell:        

            TOTAL:

    		 153,051,821 4.70%    

    All interests and all short positions should be disclosed.

    Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

    (b)      Rights to subscribe for new securities (including directors’ and other employee options)

    Class of relevant security in relation to which subscription right exists:  
    Details, including nature of the rights concerned and relevant percentages:  

    3.        DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

    Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

    The currency of all prices and other monetary amounts should be stated.

    (a)        Purchases and sales

    Class of relevant security Purchase/sale Number of securities Price per unit
    10p Ordinary Shares Sale 25,000 41.0577p
    10p Ordinary Shares Sale 25,000 41.0411p
    10p Ordinary Shares Sale 60,000 41.036p
    10p Ordinary Shares Sale 14,460 41.1551p
    10p Ordinary Shares Sale 13,500 41.1871p
    10p Ordinary Shares Purchase 14,460 41.188p

    (b)        Cash-settled derivative transactions

    Class of relevant security Product description
    e.g. CFD    		 Nature of dealing
    e.g. opening/closing a long/short position, increasing/reducing a long/short position    		 Number of reference securities Price per unit
             

    (c)        Stock-settled derivative transactions (including options)

    (i)        Writing, selling, purchasing or varying

    Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type
    e.g. American, European etc.    		 Expiry date Option money paid/ received per unit
                   

    (ii)        Exercise

    Class of relevant security Product description
    e.g. call option    		 Exercising/ exercised against Number of securities Exercise price per unit
             

    (d)        Other dealings (including subscribing for new securities)

    Class of relevant security Nature of dealing
    e.g. subscription, conversion    		 Details Price per unit (if applicable)
    10p Ordinary Shares Internal transfer from Execution-Only to Discretionary 21,255  
    10p Ordinary Shares Internal transfer from Discretionary to Execution-Only 22,095  
    10p Ordinary Shares Internal transfer from Discretionary to Execution-Only 33,500  
    10p Ordinary Shares Internal transfer from Discretionary to Execution-Only 7,091  

    4.        OTHER INFORMATION

    (a)        Indemnity and other dealing arrangements

    Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
    Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”
    None

    (b)        Agreements, arrangements or understandings relating to options or derivatives

    Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:
    (i)   the voting rights of any relevant securities under any option; or
    (ii)   the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
    If there are no such agreements, arrangements or understandings, state “none”
    None

    (c)        Attachments

    Is a Supplemental Form 8 (Open Positions) attached? No
    Date of disclosure: 05/03/2025
    Contact name: Callum Ridley – Compliance Department
    Telephone number: 0151 243 7037

    Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

    The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

    The Code can be viewed on the Panel’s website at.

    The MIL Network –

  • MIL-OSI: Lofty Unveils AI Copilot to Help Real Estate Professionals Streamline Daily Business Operations

    Source: GlobeNewswire (MIL-OSI)

    PHOENIX, March 05, 2025 (GLOBE NEWSWIRE) — Award-winning real estate technology innovator, Lofty today announced the company’s latest AI Innovation, Lofty AI Copilot. The new offering is designed to eliminate the guess work – and the grind – of managing and converting leads, ensuring agents have time to spend on high-value tasks that will drive the most appointments and transactions. Relied on by some of the most forward-thinking enterprises, brokerages, and agents in the industry, Lofty continues to prioritize practical AI innovations that fit into agent workflows, support brokerage operations, and make running a real estate business easier. To learn more about Lofty AI Copilot and how you can put your business growth functions on autopilot, visit lofty.com/ai/copilot.

    Lofty AI Copilot is architected to help agents be more efficient and productive. By working 24×7, Copilot helps agents streamline daily business operations and maximize productivity by identifying the best opportunities to pursue and prioritizing high-value tasks. The AI tool not only makes working in Lofty easier and less time-consuming, but optimizes every decision made and every action taken to drive the highest volume of transactions with the least amount of effort.

    “Lofty AI Copilot is a next level game changer! It’s reading my emails and adding tasks and appointments for me in my calendar and sending follow up communications to the client as well. I’m excited to see what else this powerful tool can do,” noted Tameka Ross of Liv Real Estate.

    Lofty AI Copilot is comprised of three specialized AI “workers” that include:

    • Navigator – Optimizes user interactions and the overall Lofty experience. Provides insights, recommendations, next steps, anywhere in the platform where a user needs direction. IT also performs and manages a variety of tasks including list filters, communications, and priorities.
    • Copywriter – Creates high-quality content for email and text communications, SEO, blogs, landing pages and more.
    • TechXpert – Provides a conduit to all things Lofty technical support such as product inquiries, billing, customer support, lead imports, and account management.

    Lofty AI Copilot, available today, is part of Lofty’s new and improved framework for delivering AI capabilities in the Lofty platform. Dubbed Lofty AI Workforce, these enhancements feature specialized AI agents to assist with platform navigation, marketing, social media, listing promotion, lead management, and more. The result is that customers can choose where and how to apply AI to their business and do so at their own pace.

    “With the industry’s most comprehensive suite of AI capabilities, our platform offers real estate professionals the flexibility and scalability they need to apply AI in the specific areas of their business where they can reap the most return,” noted Henry Li, Chief Technology Officer at Lofty. “In the coming months, we will release three additional AI agents to complement Lofty AI Copilot. Collectively, these tools will underscore our commitment to helping those in the real estate industry optimize their efforts to grow as they look to drive the highest volume of transactions with the least amount of friction.”

    To learn more about how Lofty’s unmatched AI capabilities can help your business grow, visit lofty.com/ai/overview.

    About Lofty Inc.
    Lofty Inc. (formerly Chime Technologies) provides an AI-powered platform that helps real estate professionals increase their productivity and accelerate business growth. Featuring award-winning technology, the Lofty platform is designed to optimize every step of the real estate journey, from search to settlement. By leveraging one unified hub, customers can automate marketing programs, streamline the sales process, and maximize collaboration between agents empowering them to spend more time building relationships and their business. Headquartered in Phoenix, Arizona, Lofty operates as a US subsidiary of Moatable, Inc. (OTCPK: MTBLY). For more information, visit lofty.com.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/aac50479-4000-4da0-8425-6a2c182fa264.

    The MIL Network –

  • MIL-OSI: CERo Therapeutics Holdings, Inc. to Present Data at the Society for Immunotherapy of Cancer Spring Scientific March 12-14

    Source: GlobeNewswire (MIL-OSI)

    New poster to highlight preclinical data of CER-1236 in ovarian cancer

    SOUTH SAN FRANSCISCO, Calif., March 05, 2025 (GLOBE NEWSWIRE) — CERo Therapeutics Holdings, Inc., (Nasdaq: CERO) (“CERo” or the “Company”) an innovative immunotherapy company seeking to advance the next generation of engineered T cell therapeutics that employ phagocytic mechanisms, announces it will be presenting preclinical results of lead compound CER-1236 in ovarian cancer during the Spring Scientific from the Society for Immunotherapy of Cancer (SITC) in San Diego, March 12-14.

    The poster, titled, “TIM-4-L Expression on Ovarian Cancer Samples can be Targeted by Engineered Chimeric Engulfment Receptor T cells without Toxicity,” will be presented March 13, 2025.  The Company will announce the data concurrently with the presentation at the conference by making the poster available on its website at 9:00AM ET on March 13, 2025.

    Chris Ehrlich, CERo CEO commented, “As we progress toward launching our Phase 1 trial in AML, we continue to present additional data in ovarian cancer along with the substantial data we’ve already presented in Non-Small Cell Lung Cancer (NSCLC). We have significant data in multiple liquid and solid tumors for CER-1236 demonstrating tremendous potential across many cancer types. Moreover, we will not only be testing CER-1236 shortly in AML but anticipate doing so as well in ovarian cancer and non-small cell lung cancer in 2025. We are grateful for the opportunity to share these outcomes and discuss them with the scientific community, look forward to sharing the data concurrently with the meeting, and to providing progress updates on our AML program in the near term.”

    About CERo Therapeutics Holdings, Inc.

    CERo is an innovative immunotherapy company advancing the development of next generation engineered T cell therapeutics for the treatment of cancer. Its proprietary approach to T cell engineering, which enables it to integrate certain desirable characteristics of both innate and adaptive immunity into a single therapeutic construct, is designed to engage the body’s full immune repertoire to achieve optimized cancer therapy. This novel cellular immunotherapy platform is expected to redirect patient-derived T cells to eliminate tumors by building in engulfment pathways that employ phagocytic mechanisms to destroy cancer cells, creating what CERo refers to as Chimeric Engulfment Receptor T cells (“CER-T”). CERo believes the differentiated activity of CER-T cells will afford them greater therapeutic application than currently approved chimeric antigen receptor (“CAR-T”) cell therapy, as the use of CER-T may potentially span both hematological malignancies and solid tumors. CERo anticipates initiating clinical trials for its lead product candidate, CER-1236, in 2024 for hematological malignancies.

    Forward-Looking Statements

    This communication contains statements that are forward-looking and as such are not historical facts. This includes, without limitation, statements regarding the financial position, business strategy and the plans and objectives of management for future operations of CERo the timing and completion of the reverse stock split, and the acceptance and implementation of its proposed plan of compliance with Nasdaq continued listing standards. These statements constitute projections, forecasts and forward-looking statements, and are not guarantees of performance. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. When used in this communication, words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “strive,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. When CERo discusses its strategies or plans, it is making projections, forecasts or forward-looking statements. Such statements are based on the beliefs of, as well as assumptions made by and information currently available to, CERo’s management.

    Actual results could differ from those implied by the forward-looking statements in this communication. Certain risks that could cause actual results to differ are set forth in CERo’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K, filed on April 2, 2024, and the documents incorporated by reference therein. The risks described in CERo’s filings with the Securities and Exchange Commission are not exhaustive. New risk factors emerge from time to time, and it is not possible to predict all such risk factors, nor can CERo assess the impact of all such risk factors on its business, or the extent to which any factor or combination of factors may cause actual results to differ materially from those contained in any forward-looking statements. Forward-looking statements are not guarantees of performance. You should not put undue reliance on these statements, which speak only as of the date hereof. All forward-looking statements made by CERo or persons acting on its behalf are expressly qualified in their entirety by the foregoing cautionary statements. CERo undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

    Contact:
    Chris Ehrlich
    Chief Executive Officer
    chris@cero.bio

    Investors:
    CORE IR
    investors@cero.bio

    The MIL Network –

  • MIL-OSI Economics: Phillips 66 Issues Letter to Shareholders

    Source: Phillips

    Confirms Elliott Investment Management’s Nomination of Director Candidates

    HOUSTON–(BUSINESS WIRE)– Phillips 66 (NYSE:PSX) (the “Company”) today issued the following letter to its shareholders. The Company values shareholder feedback and is fully committed to continuing open engagement with all shareholders. This has been consistently demonstrated and expressed over the course of nearly two dozen meetings with Elliott Investment Management (“Elliott”) since October 2023, including the most recent meeting on March 3, 2025.
    The Company also confirmed Elliott has nominated seven directors for election to Phillips 66’s Board of Directors (the “Board”) at the Company’s 2025 Annual Meeting. As the Company disclosed on February 19, the Board will present its recommendation regarding the director nominations with its definitive proxy statement to be filed with the U.S. Securities and Exchange Commission and made available to all shareholders eligible to vote at the 2025 Annual Meeting.
    Following the proper procedures and in accordance with the Company’s By-Laws, the Board intends to put forward another management proposal to declassify the Board at our 2025 Annual Meeting and notes that it has done so five times since its 2015 Annual Meeting.
    Fellow Shareholders:
    At Phillips 66, we are committed to maximizing value for our shareholders through operational excellence and disciplined capital allocation.
    We have a strong track record since our formation in 2012. We have built out a large-scale, competitive, high return Midstream platform, enhanced our chemicals position through Chevron Phillips Chemical Company (CPChem) and have made sustainable improvement to refining operations. These actions have positioned Phillips 66 as the leading energy business it is today.
    Moreover, these actions have delivered substantial value for our shareholders. This includes total shareholder returns of 474%1 and returning $43 billion to shareholders through dividends and share repurchases. Most importantly, we have done all this while sustaining industry-leading safety performance.
    We Have Made Significant Progress on our Strategic Priorities
    Phillips 66 has taken substantial action to deliver on our objectives that we laid out in 2022, and further enhanced in 2023. Our actions have led to significant progress and achievements, enhancing shareholder returns and operational efficiency. We are a business that will always act decisively when we can realize sustainable long-term growth to the benefit of our shareholders and all stakeholders.
    Delivering strong total shareholder returns of 65%2since Mark Lashier became President and CEO of Phillips 66 on July 1, 2022, significantly outperforming the S&P 500 Energy Index (33%2) and our proxy peer group median (22%2)
    Returning significant capital to shareholders with $13.6 billion in share repurchases and dividends from July 2022 through year-end 2024, exceeding our shareholder distribution target
    Reducing refining costs by $1 per barrelsince 2022 and committing to continued improvement
    Maximizing value from our wellhead-to-market strategyby capturing $500 million of run rate synergies from our DCP Midstream acquisition (above our initial target of $300 million) and increasing our Midstream segment’s adjusted EBITDA by $1.5 billion since 2022
    Maintaining our financial resiliencewith strong investment grade credit ratings (A3 / BBB+), engaging in a business optimization that has resulted in over $3 billion in non-core asset divestitures to date and capturing significant cost reductions since 2022 totaling $1.2 billion on a run-rate basis
    Earning industry recognition for our exemplary safety performancein Midstream, Refining and Chemicals in 2022 and 2023
    We Continue to Strengthen Our Business and Our Board
    Below is an update on a number of our key strategic objectives and the actions underway:
    Optimizing Our Business We have demonstrated a commitment to evolving the business over time. We continue to high-grade our assets and capitalize on our growth platform to generate strong returns and significant free cash flow. We have simplified our business with over $3 billion in divestitures in the past year and returned over $5 billion to shareholders through a combination of share repurchases and dividends. We anticipate that our integrated NGL value chain growth strategy will be significantly strengthened with the pending EPIC acquisition.
    Maintaining a Culture of Continuous Improvement, Operational Excellence and Cost Discipline Our culture of continuous improvement demands, and will continue to demand, that we consistently and rigorously evaluate opportunities to optimize our cost structure and operational efficiency to maximize value for shareholders. While we have successfully reduced refining costs per barrel since 2022, as noted above, we recognize that we have more work to do in operations and costs. We are prioritizing our most competitive refineries and continuing to identify and execute cost-savings opportunities. Recently, we announced that we would cease operations at our Los Angeles Refinery in the fourth quarter of 2025, which will allow us to further high-grade our business. We continue to evaluate additional opportunities for efficiency enhancements.
    Returning Cash to Our Shareholders As previously outlined, our 2025–2027 strategic targets include returning over 50% of net operating cash flow to shareholders while driving strong operational performance, implementing further cost reductions and continuing our focus on disciplined capital allocation.
    Ensuring Strong Corporate Governance and Board Oversight We recognize the importance of strong corporate governance and have taken proactive steps to ensure that our Board remains aligned with shareholder interests and is best positioned to oversee the Company’s strategy. Over the past four years, we have welcomed five new independent directors to the Board, including two in 2024. Bob Pease, a director we identified in partnership with Elliott Investment Management (“Elliott”), brings extensive experience in refining and the energy industry broadly. Grace Puma, our most recent addition to the Board, brings strong supply chain experience. Additionally, as we have many times before in 2015, 2016, 2018, 2021 and 2023, we will be seeking shareholder approval of a management proposal to declassify the Board at our 2025 Annual Meeting. Our Board is committed to an evolution that will be responsive to shareholders and beneficial to the business for the long-term.
    We are Listening to Our Shareholders
    We regularly engage with our shareholders through our cross-functional shareholder engagement program to obtain feedback and respond to investor input. In 2024, we engaged with shareholders representing over 60% of our outstanding shares and we will continue to build on that momentum in 2025. It was in this spirit that we first engaged with Elliott in October 2023, to hear their ideas and work together collaboratively. Constructive discussions led to the realization of a common focus on our ambitious goals to maximize shareholder value. We continued constructive dialogue with Elliott throughout 2024, including adding Bob Pease to our Board in February 2024 with Elliott’s support.
    Despite several attempts to reach agreement on adding another director to Phillips 66’s Board, Elliott has chosen to forego constructive dialogue with us and launch their activist playbook. This included a series of attacks and proposals regarding the monetization of certain business units and, for the first time in our discussions, floating the idea of a separation.
    Nevertheless, we remain fully committed to constructive engagement and finding a path forward with Elliott that will benefit all shareholders.
    On Monday, March 3, our team travelled to New York and met with Elliott to express our continued commitment to finding a constructive path forward and offering to interview their director nominees. The meeting ended with Elliott representatives stating there were no immediate next steps. The next day, Elliott leaked their slate of director nominees to the media, issued a press release and filed a preliminary proxy statement. Our leadership team and Board stand ready to engage constructively when Elliott is ready despite these actions, which showed no genuine interest in engagement with Phillips 66.
    The Board continuously and aggressively evaluates the portfolio and other alternatives with a view to maximizing long-term shareholder value – and is willing to take decisive action to achieve this goal. As always, we seriously and comprehensively review shareholder feedback with a focus on creating long-term value.
    The Bottom Line
    Phillips 66 is dedicated to transparency, accountability, and sustainable value creation for shareholders.
    We have made substantial progress and realize there is more work to be done. We will continue to pursue opportunities that strengthen our position to the benefit of our shareholders. We look forward to your input and to provide further updates on our progress.
    Sincerely,
    Mark E. Lashier Chairman and Chief Executive Officer
    Glenn F. Tilton Lead Independent Director

    1 Total Shareholder Return (“TSR”) from May 1, 2012 to March 4, 2025.

    2 Total Shareholder Return (“TSR”) from June 30, 2022 to March 4, 2025.

    About Phillips 66
    Phillips 66 (NYSE: PSX) is a leading integrated downstream energy provider that manufactures, transports and markets products that drive the global economy. The company’s portfolio includes Midstream, Chemicals, Refining, Marketing and Specialties, and Renewable Fuels businesses. Headquartered in Houston, Phillips 66 has employees around the globe who are committed to safely and reliably providing energy and improving lives while pursuing a lower-carbon future. For more information, visit phillips66.com or follow @Phillips66Co on LinkedIn.
    Forward-Looking Statements
    This document contains forward-looking statements within the meaning of the federal securities laws relating to Phillips 66’s operations, strategy and performance. Words such as “anticipated,” “commitments,” “estimated,” “expected,” “planned,” “scheduled,” “targeted,” “believe,” “continue,” “intend,” “will,” “would,” “objective,” “goal,” “project,” “efforts,” “strategies” and similar expressions that convey the prospective nature of events or outcomes generally indicate forward-looking statements. However, the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements included in this news release are based on management’s expectations, estimates and projections as of the date they are made. These statements are not guarantees of future events or performance, and you should not unduly rely on them as they involve certain risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in such forward-looking statements. Factors that could cause actual results or events to differ materially from those described in the forward-looking statements include: changes in governmental policies or laws that relate to our operations, including regulations that seek to limit or restrict refining, marketing and midstream operations or regulate profits, pricing, or taxation of our products or feedstocks, or other regulations that restrict feedstock imports or product exports; our ability to timely obtain or maintain permits necessary for projects; fluctuations in NGL, crude oil, refined petroleum, renewable fuels and natural gas prices, and refining, marketing and petrochemical margins; the effects of any widespread public health crisis and its negative impact on commercial activity and demand for refined petroleum or renewable fuels products; changes to worldwide government policies relating to renewable fuels and greenhouse gas emissions that adversely affect programs including the renewable fuel standards program, low carbon fuel standards and tax credits for renewable fuels; potential liability from pending or future litigation; liability for remedial actions, including removal and reclamation obligations under existing or future environmental regulations; unexpected changes in costs for constructing, modifying or operating our facilities; our ability to successfully complete, or any material delay in the completion of, any asset disposition, acquisition, shutdown or conversion that we have announced or may pursue, including receipt of any necessary regulatory approvals or permits related thereto; unexpected difficulties in manufacturing, refining or transporting our products; the level and success of drilling and production volumes around our midstream assets; risks and uncertainties with respect to the actions of actual or potential competitive suppliers and transporters of refined petroleum products, renewable fuels or specialty products; lack of, or disruptions in, adequate and reliable transportation for our products; failure to complete construction of capital projects on time or within budget; our ability to comply with governmental regulations or make capital expenditures to maintain compliance with laws; limited access to capital or significantly higher cost of capital related to illiquidity or uncertainty in the domestic or international financial markets, which may also impact our ability to repurchase shares and declare and pay dividends; potential disruption of our operations due to accidents, weather events, including as a result of climate change, acts of terrorism or cyberattacks; general domestic and international economic and political developments, including armed hostilities (such as the Russia-Ukraine war), expropriation of assets, and other diplomatic developments; international monetary conditions and exchange controls; changes in estimates or projections used to assess fair value of intangible assets, goodwill and property and equipment and/or strategic decisions with respect to our asset portfolio that cause impairment charges; investments required, or reduced demand for products, as a result of environmental rules and regulations; changes in tax, environmental and other laws and regulations (including alternative energy mandates); political and societal concerns about climate change that could result in changes to our business or increase expenditures, including litigation-related expenses; the operation, financing and distribution decisions of equity affiliates we do not control; and other economic, business, competitive and/or regulatory factors affecting Phillips 66’s businesses generally as set forth in our filings with the Securities and Exchange Commission. Phillips 66 is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.
    Additional Information
    Phillips 66 plans to file a proxy statement and accompanying WHITE proxy card with the U.S. Securities and Exchange Commission (the “SEC”) in connection with its 2025 Annual Meeting of Shareholders (the “2025 Annual Meeting”) and its solicitation of proxies for Phillips 66’s director nominees and for other matters to be voted on. Phillips 66 may also file other relevant documents with the SEC regarding its solicitation of proxies for the 2025 Annual Meeting. PHILLIPS 66 SHAREHOLDERS ARE STRONGLY ENCOURAGED TO READ THE PROXY STATEMENT (AND ANY AMENDMENTS AND SUPPLEMENTS THERETO) AND ACCOMPANYING WHITE PROXY CARD AND ANY OTHER RELEVANT SOLICITATION MATERIALS WHEN THEY BECOME AVAILABLE AS THEY WILL CONTAIN IMPORTANT INFORMATION. Shareholders may obtain copies of the proxy statement, any amendments or supplements to the proxy statement and other documents (including the WHITE proxy card) as and when filed by Phillips 66 with the SEC without charge from the SEC’s website at www.sec.gov. Copies of the documents filed by Phillips 66 with the SEC also may be obtained free of charge at Phillips 66’s investor relations website at https://investor.phillips66.com or upon written request sent to Phillips 66, 2331 CityWest Boulevard, Houston, TX 77042, Attention: Investor Relations.
    Certain Information Regarding Participants
    Phillips 66, its directors, certain of its executive officers and employees may be deemed to be participants in connection with the solicitation of proxies from Phillips 66 shareholders in connection with the matters to be considered at the 2025 Annual Meeting. Information regarding the names of such directors and executive officers and their respective interests in Phillips 66, by securities holdings or otherwise, is available in Phillips 66’s proxy statement for the 2024 annual meeting of shareholders, which was filed with the SEC on April 3, 2024 (the “2024 Proxy Statement”), including in the sections captioned “Executive Compensation Program Overview,” “Director Compensation,” “Compensation Discussion and Analysis,” “Executive Compensation Tables” and “Beneficial Ownership of Phillips 66 Securities.” To the extent that Phillips 66’s directors and executive officers have acquired or disposed of securities holdings since the applicable “as of” date disclosed in the 2024 Proxy Statement, such transactions have been or will be reflected on Statements of Changes in Ownership of Securities on Form 4 or Initial Statements of Beneficial Ownership of Securities on Form 3 filed with the SEC, including: Form 4s filed by Gregory Hayes on April 2, 2024, May 2, 2024, June 4, 2024, July 2, 2024, August 2, 2024, September 4, 2024, October 2, 2024, November 4, 2024, December 4, 2024, January 3, 2025, January 17, 2025, February 4, 2025 and March 4, 2025 ; Form 4s filed by Richard G. Harbison on December 9, 2024, February 11, 2025 and February 13, 2025 ; Form 4s filed by Mark E. Lashier on April 2, 2024, May 16, 2024, December 9, 2024, February 11, 2025 and February 13, 2025 ; Form 4 filed by Glenn F. Tilton on January 17, 2025 ; Form 4s filed by Brian Mandell on December 9, 2024, February 11, 2025 and February 13, 2025 ; Form 4s filed by Kevin J. Mitchell on August 19, 2024, December 9, 2024, February 11, 2025 and February 13, 2025 ; Form 4s filed by Zhanna Golodryga on December 9, 2024, February 11, 2025 and February 13, 2025 ; Form 4 filed by Marna C. Whittington on January 17, 2025 ; Form 4s filed by Vanessa A. Sutherland on January 21, 2025, February 11, 2025 and February 13, 2025 ; Form 4 filed by Douglas T. Terreson on January 17, 2025 ; Form 4 filed by Denise R. Singleton on January 17, 2025 ; Form 4 filed by Denise L. Ramos on January 17, 2025 ; Form 4 filed by Julie L. Bushman on January 17, 2025 ; Form 4 filed by Lisa A. Davis on January 17, 2025 ; Form 4 filed by John E. Lowe on January 17, 2025 ; Form 4/A filed by Gary K. Adams on March 20, 2024 and Form 4 filed by Gary K. Adams on January 17, 2025 ; Form 4 filed by Charles M. Holley on January 17, 2025 ; Form 4 filed by Robert W. Pease on January 17, 2025 ; Form 3 filed by Ann M. Kluppel on May 16, 2024 and Form 4s filed by Ann M. Kluppel on December 9, 2024, February 11, 2025 and February 13, 2025 ; Form 3 filed by Don Baldridge on June 5, 2024 and Form 4s filed by Don Baldridge on December 9, 2024, January 3, 2025, February 13, 2025 and March 3, 2025 ; Form 3 filed by Grace Puma on October 11, 2024 and Form 4s filed by Grace Puma on October 11, 2024 and January 17, 2025. Additional information can also be found in Phillips 66’s Annual Report on Form 10-K for the year ended December 31, 2023, filed with the SEC on February 21, 2024.

    Source: Phillips 66

    MIL OSI Economics –

  • MIL-OSI Global: Influencers have trouble figuring out their tax obligations − and with good reason

    Source: The Conversation – USA – By Sarah Webber, Associate Professor of Accounting, University of Dayton

    If influencer Jimmy Darts got any of this outdoor furniture for free, the IRS would probably see it as income. AP Photo/Chris Pizzello

    The Internal Revenue Service hasn’t issued comprehensive guidance on how the estimated 27 million Americans earning income as influencers should report their income and expenses on their tax returns. That’s leaving people who either make a living or supplement their income by endorsing products and services on social media platforms such as Instagram and YouTube – and their accountants – unsure about the tax consequences of their income and expenses, or what kinds of deductions are legitimate for people in their line of work.

    We, two accounting scholars, published this finding and other things we discovered about the taxation of content creators in the Journal of Accountancy in the fall of 2024.

    We found that the tax treatment of the free products many influencers get in the course of doing their job is especially ambiguous, leaving them unaware of how to correctly file their tax returns.

    While some tax experts argue that freebies, whether they’re objects such as running shoes and headphones or services such as a luxury hotel stay, should be treated as taxable income. Other tax professionals say free goods and services are typically gifts, not income.

    For our research we analyzed tax laws, researched various accounting firms specializing in influencer clients and examined IRS guidance that offers tax advice to accountants and influencers. While specific audits of social media influencers for nondeductible lifestyle expenses are not publicly documented due to confidentiality, there are common areas where influencers may face scrutiny from tax authorities.

    The IRS issued its most relevant guidance in 2006, when it advised entertainers and celebrities who receive “swag bags” containing pricey gifts at the Oscars and other high-profile award ceremonies. Other guidance is based on commonly accepted tax rules for business deductions and income recognition.

    The IRS confirmed that items received this way constitute taxable income that must be reported based on their fair value. This advice offered a starting point for influencer tax rules. In our view, that guidance does not clear up a growing area of uncertainty that affects millions of people and countless companies.

    A CPA offers some advice for influencers who get stuff from brands.

    Why it matters

    Following years of rapid growth, the influencer industry has an estimated market value of more than US$23 billion in 2025. Some experts predict that it will reach $71 billion by 2032 as brands spend billions more on their partnerships with influencers.

    Ideally, all influencers would sign contracts with their business partners outlining the terms of their compensation. In reality, companies send stuff or provide free services to influencers without agreeing with them about anything in advance.

    While the IRS allows gifts to be excluded from income, many influencers receive unsolicited items that generally don’t qualify as gifts. That’s because a true gift requires nothing expected in return.

    In contrast, when influencers get freebies, they’re often expected to promote or acknowledge those products or services on social media. When influencers get things they don’t use, returning them is their best course of action in terms of their possible tax liability.

    Otherwise, those items they didn’t ask for could constitute income they must report unless the items are considered de minimis – very low value – fringe benefits.

    In influencer marketing, this guideline allows influencers to exclude low-cost products or services from their income if their value is too small to track. Frequently receiving many low-value goods or services from the same business, however, could constitute taxable income.

    Influencers’ expenses are also hard to assess because they use many purchases for both personal and business purposes. And business expenses can be deducted on a tax return but not personal ones.

    The tax code is especially strict when it comes to apparel, unless it’s used exclusively for business purposes. This leaves influencers unsure about what they should do when they purchase, say, a cashmere scarf that they promote on TikTok but also wear when they go on errands without any promotional activities. Would that scarf be partially deductible? Not deductible at all? The IRS hasn’t said enough for us – or anyone else – to answer this question.

    Influencers must track everything they get for free and all their work-related expenses paid during the year. Creating a simple record-keeping system tracking for all goods and services received will simplify tax filing. There are some apps for that.

    What still isn’t known

    Neither the IRS nor Congress has indicated whether any guidelines, regulations or laws that would clarify the rules governing influencer taxation are in the works. It’s also unclear when IRS audits of influencers or relevant tax court cases are underway.

    The Research Brief is a short take about interesting academic work.

    The University of Dayton is a partner organization with The Conversation.

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

    – ref. Influencers have trouble figuring out their tax obligations − and with good reason – https://theconversation.com/influencers-have-trouble-figuring-out-their-tax-obligations-and-with-good-reason-250490

    MIL OSI – Global Reports –

  • MIL-OSI Global: COVID-19 is the latest epidemic to show biomedical breakthroughs aren’t enough to eliminate a disease

    Source: The Conversation – USA – By Powel H. Kazanjian, Professor of Infectious Diseases and of History, University of Michigan

    COVID-19 has become a part of modern life that many people don’t pay much attention to. Spencer Platt via Getty Images News

    The COVID-19 pandemic transformed over the past five years from a catastrophic threat that has killed over 7 million people to what most people regard today as a tolerable annoyance that doesn’t require precaution. Nonetheless, COVID-19 continues to kill over 2,000 people per month globally and cause severe illness in the infirm or elderly.

    The evolution of the COVID-19 pandemic – from devastation, to optimism for eradication, to persistent, uneven spread of disease – may seem unprecedented. As an infectious disease doctor and medical historian, however, I see similarities to other epidemics, including syphilis, AIDS and tuberculosis.

    Vaccines, medications and other biomedical breakthroughs are necessary to eliminate epidemic diseases. But as I explore in my book, “Persisting Pandemics,” social, economic and political factors are equally important. On its own, medical science is not enough.

    Syphilis, AIDS and TB have stuck around

    Syphilis is a sexually transmitted disease first identified in 1495. It causes skin rashes and may progress to causing paralysis, blindness or both. For centuries, syphilis weakened nations by disabling parents, workers and soldiers in the prime of their lives. Innovative drugs – first Salvarsan (1909), then penicillin (1943) – offered a path toward eradication when used together with widespread testing.

    A 1940s poster focuses on the medical cure for the disease.
    National Archives, CC BY

    Public health programs conducted from the 1930s through the 2000s, however, failed – not because of the efficacy of the treatments but because of socioeconomic conditions.

    One challenge has been persistent stigma around getting tested for the disease and tracing sexual partners. Poverty is another; it can force women into commercial sex activities and prevent people from learning how to protect themselves from sexually transmitted infections. Population migration due to commerce or war can cause high-risk behaviors such as sexual promiscuity. Women in some cultures lack authority to negotiate for condom use. And governments have not consistently prioritized the sustained funding needed to support efforts to eliminate the disease.

    Despite societal indifference toward syphilis, in the 2020s over 8 million new cases occur globally each year, particularly among racial minorities and low-income populations.

    The history of HIV/AIDS is shorter than that of syphilis, but the trajectory has similarities. Doctors first described HIV/AIDS in 1981, when it was a nearly uniformly fatal sexually transmitted disease. Novel antiretroviral drugs introduced in 1996 offered medical scientists the hope of disease elimination through public health campaigns, centered on widespread testing and treatment, implemented in 2013.

    But these programs, for reasons like with syphilis, are not meeting their treatment targets across all countries, especially among low-income populations and racial minorities. Sustaining funding for health care infrastructure and the multidrug regimens for 39 million people living with HIV poses an added challenge. Today, despite a cavalier public attitude toward the disease, AIDS causes over 630,000 deaths globally. That number will likely increase substantially given the Trump administration’s decision to cut funding for United States Agency for International Development programs.

    Tuberculosis is a third disease that also depleted workforces and weakened nations, particularly in postindustrial revolution 19th-century cities. The disease spread widely because poverty placed people in poorly ventilated working conditions and crowded tenement dwellings. The development of new combination antimicrobial drug regimens offered an avenue for disease eradication in the 1960s.

    Nonetheless, the inability to sustain funding to complete complex treatment courses, problems isolating people who could not afford suitable homes, and poor adherence due to homelessness, incarceration or migration during war or trade have compromised public health campaigns. Despite societal nonchalance, tuberculosis today kills up to 1.6 million globally yearly.

    Memories of the early, emergency phase of the COVID-19 pandemic have faded.
    Stan Grossfeld/The Boston Globe via Getty Images

    The COVID-19 case study

    The trajectories of these epidemics show how campaigns based solely on biomedical approaches that target pathogens are not enough to eliminate disease.

    COVID-19 provides the latest example. In the U.S., the pandemic and its lockdowns disproportionately affected low-income people and racial minorities, especially those employed in front-line jobs that did not allow remote work from home. These groups were more likely to reside in crowded residences with poor ventilation or no space for isolation.

    Despite the rapid development of a breakthrough mRNA vaccine that offered hope for what President Joe Biden euphorically termed “independence from the virus,” the promise never fully materialized.

    Too few people received shots, in large part due to socioeconomic factors.

    Wealthy countries purchased vaccines that lower-income countries could not afford. Allocation difficulties kept vaccines from remote regions of the world.

    Vaccine hesitancy due to mistrust in science, along with sentiment that vaccine mandates violated individual freedoms, also prevented people from getting the shot. Similar attitudes reduced rates of mask-wearing and isolation.

    Consequently, surges that could have been avoided took more lives.

    Drugs and vaccines can’t do it alone

    Modern medical science is unmatched in treating pathogens and disease symptoms. But to stop disease, it’s also critical to address the social, economic and political conditions that enable its spread.

    Public health officials have started to implement a variety of structural solutions:

    A peer educator talks about HIV/AIDS with his colleagues at a maintenance shop in Kenya.
    Wendy Stone/Corbis Historical via Getty Images

    Early 20th-century public health officials had hoped that efficient scientific solutions alone could take the place of 19th-century, pre-germ-theory environmental sanitation efforts. COVID-19, syphilis, HIV/AIDS and tuberculosis show that while biomedical breakthroughs are necessary to eliminate epidemic diseases, sustained focus and resources aimed at helping the most socially and economically vulnerable are essential.

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

    – ref. COVID-19 is the latest epidemic to show biomedical breakthroughs aren’t enough to eliminate a disease – https://theconversation.com/covid-19-is-the-latest-epidemic-to-show-biomedical-breakthroughs-arent-enough-to-eliminate-a-disease-245827

    MIL OSI – Global Reports –

  • MIL-OSI: Nvni Group to Participate in the 37th Annual ROTH Conference

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, March 05, 2025 (GLOBE NEWSWIRE) — Nvni Group Limited (Nasdaq: NVNI) (“Nuvini” or the “Company”), a leading acquirer of private SaaS B2B companies in Latin America, announced today that it will participate in the 37th Annual ROTH Conference being held Sunday, March 16th to Tuesday, March 18th at the Laguna Cliffs Marriott Resort in Dana Point, CA.

    Nuvini’s Chief Executive Officer Pierre Schurmann will be available to host one-on-one meetings with investors during the event. To schedule a meeting, please contact Investor Relations at NVNI@mzgroup.us or your ROTH representative.

    About Nuvini

    Headquartered in São Paulo, Brazil, Nuvini is the leading private serial software business acquirer in Latin America. The Nuvini Group acquires software companies within SaaS markets in Latin America. It focuses on acquiring profitable “business-to-business” SaaS companies with a consolidated business model, recurring revenue, positive cash generation and relevant growth potential. The Nuvini Group enables its acquired companies to provide mission-critical solutions to customers within its industry or sector. Its business philosophy is to invest in established companies and foster an entrepreneurial environment that would enable companies to become leaders in their respective industries. The Nuvini Group’s goal is to buy, retain and create value through long-term partnerships with the existing management of its acquired companies.

    Investor Relations Contact:

    Sofia Toledo
    ir@nuvini.co

    The MIL Network –

  • MIL-OSI: NextNRG, Inc. Announces Estimated 136% Year-over-Year Revenue Growth for January 2025

    Source: GlobeNewswire (MIL-OSI)

    MIAMI, March 05, 2025 (GLOBE NEWSWIRE) — NextNRG, Inc. (“NextNRG” and the “Company”) (Nasdaq: NXXT), a pioneer in utilizing artificial intelligence and machine learning to redefine energy innovation with its cutting-edge utility operating system, smart microgrid solutions, wireless electric vehicle charging, and fuel delivery technologies, today announced record year-over-year (“YoY”) and sequential unaudited revenue growth for the month of January 2025 in its EzFill division. The tables below provide details regarding the YoY and month-over-month (“MoM”) comparisons.

     
      January 2025 – YoY Comparison
        January 2024   January 2025 Growth  
    Revenue $ 2,110,843 $ 4,992,090 136%  
    Gallons   546,292   1,438,824 163%  
       
      January 2025 – MoM Comparison
      December 2024 January 2025 Growth  
    Revenue $ 2,272,058 $ 4,992,090 120%  
    Gallons   620,578   1,438,824 132%  
                 

    NextNRG, Inc. Executive Chairman and CEO, Michael D. Farkas, commented, “This record-breaking month underscores the strength of our carefully designed growth strategy, which we are executing with discipline. We believe the acquisition of Shell Oil’s truck fleet, doubling our operational capacity, strategically positions us to maintain this momentum. January 2025 marked the initiation of fuel deliveries to the world’s leading e-commerce company under a substantial long-term agreement. Additionally, we are experiencing consistent revenue growth across our key markets and fleet accounts nationwide. With the recent financing and share exchange finalized, we believe we are well-equipped to advance the next stage of our strategic expansion.”

    About NextNRG, Inc.

    NextNRG Inc. (NextNRG) is Powering What’s Next by implementing artificial intelligence (AI) and machine learning (ML) into renewable energy, next-generation energy infrastructure, battery storage, wireless electric vehicle (EV) charging, and on-demand mobile fuel delivery to create an integrated ecosystem.

    At the core of NextNRG’s strategy is its Utility Operating System which leverages AI and ML to help make existing utilities’ energy management as efficient as possible; and the deployment of NextNRG Smart Microgrids, which utilize AI-driven energy management alongside solar power and battery storage to enhance energy efficiency, reduce costs, and improve grid resiliency. These microgrids are designed to serve commercial properties, schools, hospitals, nursing homes, parking garages, rural and tribal lands, recreational facilities, and government properties, expanding energy accessibility while supporting decarbonization initiatives.

    NextNRG continues to expand its growing fleet of fuel delivery trucks and national footprint, including the acquisition of Yoshi Mobility’s fuel division and Shell Oil’s trucks, further solidifying its position as a leader in the on-demand fueling industry. NextNRG is also integrating sustainable energy solutions into its mobile fueling operations. The company hopes to be an integral part of assisting its fleet customers in their transition to EV supporting more efficient fuel delivery while advancing clean energy adoption. The transition process is expected to include the deployment of NextNRG’s innovative wireless EV charging solutions.

    To find out more visit: www.nextnrg.com

    Forward-Looking Statements

    This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  Any statement describing NextNRG’s goals, expectations, financial or other projections, intentions, or beliefs is a forward-looking statement and should be considered an at-risk statement. Words such as “expect,” “intends,” “will,” and similar expressions are intended to identify forward-looking statements. Such statements are subject to certain risks and uncertainties, including, but not limited to, those related to NextNRG’s business and macroeconomic and geopolitical events. These and other risks are described in NextNRG’s filings with the Securities and Exchange Commission from time to time. NextNRG’s forward-looking statements involve assumptions that, if they never materialize or prove correct, could cause its results to differ materially from those expressed or implied by such forward-looking statements. Although NextNRG’s forward-looking statements reflect the good faith judgment of its management, these statements are based only on facts and factors currently known by NextNRG. Except as required by law, NextNRG undertakes no obligation to update any forward-looking statements for any reason. As a result, you are cautioned not to rely on these forward-looking statements.

    Investor Relations Contact:

    NextNRG, Inc.
    Sharon Cohen
    SCohen@nextnrg.com

    The MIL Network –

  • MIL-OSI: Magnite’s CTV Supply Leadership Is Unmatched With 99% Market Coverage, Shows Latest Jounce Report

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, March 05, 2025 (GLOBE NEWSWIRE) — Magnite (NASDAQ: MGNI), the largest independent sell-side advertising company, leads the market with 99% of CTV supply coverage and 96% of overall omnichannel supply coverage, according to the latest Jounce Supply Benchmarking Report. Magnite’s comprehensive coverage in the CTV ecosystem maintains a more than 24% lead over the next company in the study.

    Magnite is the only sell-side advertising company that has direct relationships with leading media owners including Disney and Netflix, in addition to long-standing partnerships with publishers including Roku, Warner Bros. Discovery, and others. Magnite has preferred integrations with over 90% of its CTV supply partners, making it the most comprehensive place to access differentiated supply, unique first-party data, and content signals.

    “Magnite helps us make our advertising business more dynamic, more efficient, and more scalable — they’re a valuable partner,” said Miles Fisher, Senior Director, Strategic Advertising Partnerships at Roku. “Their advanced capabilities and programmatic expertise maximize the value of Roku’s premium inventory, while delivering better outcomes for buyers.”

    “Magnite’s unparalleled CTV footprint opens many doors beyond simply having greater access to inventory,” said Dan Fox, Global Chief Investment Officer at IPG Mediabrands. “As a result of Magnite’s direct relationships with media owners, we gain unique supply-side insights that can optimize targeting and improve performance. The transparency and control Magnite offers ensures we can execute high-quality campaigns with confidence, delivering better outcomes for our clients in an increasingly fragmented media landscape.”

    To better support media owners and buyers, Magnite offers:

    • The built-for-streaming TV ad server SpringServe, that helps media owners meet the challenge of managing high-quality ad experiences across the video landscape.
    • Leading audience and identity tools within Magnite Access, a suite of omnichannel audience products that make it easier for display, online video, and streaming media owners–and their advertising partners–to maximize the value of their data assets.
    • Flexible and efficient routes to video inventory via ClearLine, a self-service solution that provides agencies direct access to premium video inventory on Magnite’s platforms.
    • Award-winning and innovative technology, like Live Stream Acceleration and AI-driven wrapper automation, that solve complex challenges to yield significant benefits for both publishers and advertisers.

    “The results of the Jounce study represent the culmination of the years we’ve spent building deep, strategic relationships with media owners and developing the most advanced tools to drive their success,” said Sean Buckley, President, Revenue at Magnite. “We equip sellers with the technology they need to earn the full value of their inventory while providing turn-key ways for buyers to tap into quality supply. Our role helps both sides of the ecosystem thrive.”

    About Magnite

    We’re Magnite (NASDAQ: MGNI), the world’s largest independent sell-side advertising company. Publishers use our technology to monetize their content across all screens and formats including CTV, online video, display, and audio. The world’s leading agencies and brands trust our platform to access brand-safe, high-quality ad inventory and execute billions of advertising transactions each month. Anchored in bustling New York City, sunny Los Angeles, mile high Denver, historic London, colorful Singapore, and down under in Sydney, Magnite has offices across North America, EMEA, LATAM, and APAC.

    Media Contact:

    Charlstie Veith
    cveith@magnite.com

    Investor Relations Contact:

    Nick Kormeluk
    nkormeluk@magnite.com

    The MIL Network –

  • MIL-OSI: Aktia Bank Plc: Managers’ Transactions – Aleksi Lehtonen

    Source: GlobeNewswire (MIL-OSI)

    Aktia Bank Plc
    Stock Exchange Release
    5 March 2025 at 3.00 p.m.

    Aktia Bank Plc: Managers’ Transactions – Aleksi Lehtonen

    Person subject to the notification requirement
    Name: Lehtonen, Aleksi
    Position: Chief Executive Officer
    Issuer: Aktia Bank Plc
    LEI: 743700GC62JLHFBUND16

    Notification type: INITIAL NOTIFICATION
    Reference number: 743700GC62JLHFBUND16_20250304114903_219

    ____________________________________________

    Transaction date: 2025-03-03
    Venue not applicable
    Instrument type: SHARE
    ISIN: FI4000058870
    Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE

    Transaction details
    (1): Volume: 6,623 Unit price: 0.00 EUR

    Aggregated transactions
    (1): Volume: 6,623 Volume weighted average price: 0.00 EUR

    Aktia Bank Plc

    Further information:
    Oscar Taimitarha, Director, Investor Relations, tel. +358 40 562 2315, ir (at) aktia.fi

    Distribution:
    Nasdaq Helsinki Ltd
    Mass media
    www.aktia.com

    Aktia is a Finnish asset manager, bank and life insurer that has been creating wealth and wellbeing from one generation to the next for 200 years. We serve our customers in digital channels everywhere and face-to-face in our offices in the Helsinki, Turku, Tampere, Vaasa and Oulu regions. Our award-winning asset management business sells investment funds internationally. We employ approximately 850 people around Finland. Aktia’s assets under management (AuM) on 31 December 2024 amounted to EUR 14.0 billion, and the balance sheet total was EUR 11.9 billion. Aktia’s shares are listed on Nasdaq Helsinki Ltd (AKTIA). aktia.com.

    The MIL Network –

  • MIL-OSI: Aktia Bank Plc: Managers’ Transactions – Anssi Huhta

    Source: GlobeNewswire (MIL-OSI)

    Aktia Bank Plc
    Stock Exchange Release
    5 March 2025 at 3.00 p.m.

    Aktia Bank Plc: Managers’ Transactions – Anssi Huhta

    Person subject to the notification requirement
    Name: Huhta, Anssi
    Position: Other senior manager
    Issuer: Aktia Bank Plc
    LEI: 743700GC62JLHFBUND16

    Notification type: INITIAL NOTIFICATION
    Reference number: 743700GC62JLHFBUND16_20250304114926_220

    ____________________________________________

    Transaction date: 2025-03-03
    Venue not applicable
    Instrument type: SHARE
    ISIN: FI4000058870
    Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE

    Transaction details
    (1): Volume: 6,716 Unit price: 0.00 EUR

    Aggregated transactions
    (1): Volume: 6,716 Volume weighted average price: 0.00 EUR

    Aktia Bank Plc

    Further information:
    Oscar Taimitarha, Director, Investor Relations, tel. +358 40 562 2315, ir (at) aktia.fi

    Distribution:
    Nasdaq Helsinki Ltd
    Mass media
    www.aktia.com

    Aktia is a Finnish asset manager, bank and life insurer that has been creating wealth and wellbeing from one generation to the next for 200 years. We serve our customers in digital channels everywhere and face-to-face in our offices in the Helsinki, Turku, Tampere, Vaasa and Oulu regions. Our award-winning asset management business sells investment funds internationally. We employ approximately 850 people around Finland. Aktia’s assets under management (AuM) on 31 December 2024 amounted to EUR 14.0 billion, and the balance sheet total was EUR 11.9 billion. Aktia’s shares are listed on Nasdaq Helsinki Ltd (AKTIA). aktia.com.

    The MIL Network –

  • MIL-OSI: Aktia Bank Plc: Managers’ Transactions – Kati Eriksson

    Source: GlobeNewswire (MIL-OSI)

    Aktia Bank Plc
    Stock Exchange Release
    5 March 2025 at 3.00 p.m.

    Aktia Bank Plc: Managers’ Transactions – Kati Eriksson

    Person subject to the notification requirement
    Name: Eriksson, Kati
    Position: Other senior manager
    Issuer: Aktia Bank plc
    LEI: 743700GC62JLHFBUND16

    Notification type: INITIAL NOTIFICATION
    Reference number: 743700GC62JLHFBUND16_20250304114903_218

    ____________________________________________

    Transaction date: 2025-03-03
    Venue not applicable
    Instrument type: SHARE
    ISIN: FI4000058870
    Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE

    Transaction details
    (1): Volume: 4,469 Unit price: 0.00 EUR

    Aggregated transactions
    (1): Volume: 4,469 Volume weighted average price: 0.00 EUR

    Aktia Bank Plc

    Further information:
    Oscar Taimitarha, Director, Investor Relations, tel. +358 40 562 2315, ir (at) aktia.fi

    Distribution:
    Nasdaq Helsinki Ltd
    Mass media
    www.aktia.com

    Aktia is a Finnish asset manager, bank and life insurer that has been creating wealth and wellbeing from one generation to the next for 200 years. We serve our customers in digital channels everywhere and face-to-face in our offices in the Helsinki, Turku, Tampere, Vaasa and Oulu regions. Our award-winning asset management business sells investment funds internationally. We employ approximately 850 people around Finland. Aktia’s assets under management (AuM) on 31 December 2024 amounted to EUR 14.0 billion, and the balance sheet total was EUR 11.9 billion. Aktia’s shares are listed on Nasdaq Helsinki Ltd (AKTIA). aktia.com.

    The MIL Network –

  • MIL-OSI: Parex Resources Announces 2024 Full-Year Results & Reserves, Declaration of Q1 2025 Dividend, and Appointment of Chief Financial Officer

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, March 05, 2025 (GLOBE NEWSWIRE) — Parex Resources Inc. (“Parex” or the “Company”) (TSX: PXT) is pleased to announce its financial and operating results for the three- and twelve-month periods ended December 31, 2024, as well as the results of its independent reserves assessment as at December 31, 2024. Additionally, the Company declares its Q1 2025 regular dividend of C$0.385 per share and provides a corporate update. All amounts herein are in United States dollars (“USD”) unless otherwise stated.

    Key Highlights

    • Generated annual funds flow provided by operations of $622 million(1) and free funds flow of $275 million(2) in 2024.
    • Evaluated PDP after-tax net asset value per share of C$22.02(3).
    • Added 10 mmboe 1P reserves and 7 mmboe 2P reserves at LLA-34 and Cabrestero through positive technical revisions as well as extensions & improved recovery; 2024 reserves evaluation supported by technology, including waterflood and polymer injection results(8).
    • Tracking to deliver FY 2025 average production guidance of 43,000 to 47,000 boe/d (45,000 boe/d midpoint); YTD average production is 44,500 boe/d(4).
    • Declared a Q1 2025 regular dividend of C$0.385 per share(5) (C$1.54 per share annualized).
    • Commenced a normal course issuer bid (“NCIB”) on January 22, 2025; in 2024, the Company repurchased roughly 5% of its outstanding shares through its prior NCIB.
    • Appointed Cameron Grainger as Chief Financial Officer, effective immediately.
    • Retiring from the Board of Directors are Lisa Colnett and Robert Engbloom as part of standard Board renewal process; in preparation, the Company has approved Mona Jasinski and Jeff Lawson as director nominees for the upcoming Annual General Meeting of Shareholders.

    Imad Mohsen, President & Chief Executive Officer, commented: “In 2024, Parex generated strong financial results from its underlying asset base while achieving its best annual safety performance. Despite challenges, we accomplished multiple strategic milestones throughout the year that reinforce Parex’s long-term sustainability. Building on a strong foundation, as reflected in today’s reserve report, we remain focused on executing our 2025 plan, which is characterized by lower-risk activities and a high-graded set of opportunities. The team at Parex is dedicated to rebuilding market confidence, by delivering steady results, evolving our Colombian portfolio, and strengthening our track record of shareholder returns — while also progressing towards Llanos Foothills exploration in 2026.”

    2024 Full-Year Achievements & Results

    • Achieved multiple strategic milestones throughout the year, in addition to delivering returns to shareholders:
      • Signed definitive agreements in the Llanos Foothills to consolidate Parex’s position, advancing gas and exploration strategies;
      • Implemented waterflood at Cabrestero successfully and continued waterflood progression at LLA-34;
      • Completed polymer injection pilot at Cabrestero with positive results, advancing enhanced oil recovery initiatives;
      • Executed Putumayo business collaboration agreements to add a new core area for the Company; and
      • Returned $186 million to shareholders during the year, which cumulatively results in C$1.5 billion returned to shareholders through dividends and share repurchases over the past five years.
    • Average production of 49,924(6) boe/d, meeting revised FY 2024 guidance range of 49,000 to 50,000 boe/d.
    • Realized net income of $61 million or $0.60 per share basic(7).
    • Generated funds flow provided by operations (“FFO”) of $622 million(1) and FFO per share of $6.14(3)(7).
    • Produced an operating netback of $41.30/boe(3) and an FFO netback of $33.95/boe(3) from an average Brent price of $79.86/bbl.
    • Incurred $348 million(2) of capital expenditures, primarily from activities at LLA-34, Arauca, LLA-32, LLA-122, and Capachos.
    • Delivered the Company’s best safety performance on record, with strong results across all safety metrics, including lagging and leading indicators.

    2024 Fourth Quarter Results

    • Average production was 45,297 boe/d(6).
    • Realized net loss of $69 million or $0.70 per share basic(7), largely a result of non-cash impairments recorded in the period.
    • Generated FFO of $141 million(1) and FFO per share of $1.43(3)(7).
    • Produced an operating netback of $34.90/boe(3) and an FFO netback of $32.39/boe(3) from an average Brent price of $74.01/bbl.
    • Recovered current tax of $6 million in the quarter; for 2025 the Company expects its FFO netback to be supported by lower current tax expenses compared to prior periods due to the Company’s before tax cash flow profile, previous capital expenditures, and certain tax strategies that have been deployed over recent years.
    • Incurred $82 million(2) of capital expenditures, primarily from activities at LLA-34, LLA-32, and Capachos.
    • Generated $59 million of free funds flow(2); working capital surplus was $59 million(1) and cash was $98 million at quarter end.

    2024 Year-End Corporate Reserves Report: Highlights(8)

    For the year ended December 31, 2024, the Company:

    • Increased both proved (“1P”) reserves per share and proved plus probable (“2P”) reserves per share by 6%, while proved developed producing (“PDP”) reserves per share was down 9%, compared to 2023.
      • LLA-34: realized positive technical revisions of 6 mmboe 1P related to waterflood implementation and increased recovery factor.
      • Cabrestero: added 3 mmboe 2P related to improved recovery through implementation of polymer injection.
      • LLA-32: more than doubled 1P and 2P through extensions to 2 mmboe and 4 mmboe, respectively, compared to 2023.
      • Putumayo: added inventory runway and acquired 10 mmboe and 18 mmboe of 1P and 2P, respectively, from Parex earning 50% working interest in four blocks through an enhanced strategic partnership with Ecopetrol S.A(9).
    • Increases in 1P and 2P reserves per share were partially offset by negative technical revisions associated with portfolio management at Arauca as well as a non-core block in the Magdalena basin.
      • Arauca negative technical revisions were 3 mmboe and 6 mmboe of 1P and 2P, respectively.
      • Aguas Blancas negative technical revisions were 2 mmboe and 2 mmboe of 1P and 2P, respectively.
    • Realized PDP reserves replacement ratio of 41%; three-year average PDP reserves replacement ratio was 85%.
      • Lower-than-expected Arauca and corporate exploration results were in-year PDP replacement factors.
    • Improved PDP, 1P and 2P reserve life index by 10%, 26% and 27%, respectively, compared to 2023.
      • Improved metrics supported by a lower absolute production profile that benefited PDP, 1P and 2P metrics, as well as achieving approximately 100% year-over-year reserve replacement in 1P and 2P.
    • Evaluated after-tax PDP, 1P and 2P net asset value per share(3) of C$22.02, C$26.60, and C$35.55, respectively.

    (1) Capital management measure. See “Non-GAAP and Other Financial Measures Advisory.”
    (2) Non-GAAP financial measure. See “Non-GAAP and Other Financial Measures Advisory.”
    (3) Non-GAAP ratio. See “Non-GAAP and Other Financial Measures Advisory.”
    (4) Estimated average production for January 1, 2025 to February 28, 2025; light & medium crude oil: ~9,382 bbl/d, heavy crude oil: ~34,268 bbl/d, conventional natural gas: ~5,100 mcf/d; rounded for presentation purposes.
    (5) Supplementary financial measure. See “Non-GAAP and Other Financial Measures Advisory.”
    (6) See “Operational and Financial Highlights” for a breakdown of production by product type.
    (7) Based on weighted-average basic shares for the period.
    (8) See “2024 Year-End Corporate Reserves Report” sections and “Reserves Advisory” for additional information.
    (9) As previously announced December 11, 2024.

    Operational and Financial Highlights Three Months Ended Year Ended
      Dec. 31,   Dec. 31,   Sep. 30,   December 31,
      2024   2023   2024   2024   2023   2022  
    Operational            
    Average daily production            
    Light Crude Oil and Medium Crude Oil (bbl/d) 9,550   9,700   9,064   8,850   8,417   7,471  
    Heavy Crude Oil (bbl/d) 34,882   46,760   37,777   40,336   45,163   43,008  
    Crude oil (bbl/d) 44,432   56,460   46,841   49,186   53,580   50,479  
    Conventional Natural Gas (mcf/d) 5,190   5,214   4,368   4,428   4,656   9,420  
    Oil & Gas (boe/d)(1) 45,297   57,329   47,569   49,924   54,356   52,049  
                 
    Operating netback ($/boe)            
    Reference price – Brent ($/bbl) 74.01   82.90   78.71   79.86   82.18   99.04  
    Oil & gas sales(4) 63.73   70.55   68.75   69.80   70.71   86.55  
    Royalties(4) (9.43 ) (12.12 ) (10.59 ) (10.99 ) (12.31 ) (17.61 )
    Net revenue(4) 54.30   58.43   58.16   58.81   58.40   68.94  
    Production expense(4) (15.53 ) (13.67 ) (14.81 ) (13.93 ) (10.42 ) (6.88 )
    Transportation expense(4) (3.87 ) (3.54 ) (3.71 ) (3.58 ) (3.43 ) (3.22 )
    Operating netback ($/boe)(2) 34.90   41.22   39.64   41.30   44.55   58.84  
                 
    Funds flow provided by operations netback ($/boe)(2) 32.39   36.81   34.58   33.95   33.59   38.35  
                 
    Financial ($000s except per share amounts)            
                 
    Net income (loss) (69,051 ) 133,783   65,793   60,680   459,309   611,368  
    Per share – basic(6) (0.70 ) 1.28   0.65   0.60   4.32   5.38  
                 
    Funds flow provided by operations(5) 141,201   193,377   151,773   622,233   667,782   724,890  
    Per share – basic(2)(6) 1.43   1.85   1.50   6.14   6.29   6.38  
                 
    Capital expenditures(3) 82,110   91,419   82,367   347,695   483,343   512,252  
                 
    Free funds flow(3) 59,091   101,958   69,406   274,538   184,439   212,638  
                 
    EBITDA(3) (10,419 ) 110,860   167,763   545,362   650,829   953,210  
    Adjusted EBITDA(3) 137,312   201,552   164,002   720,089   817,280   1,066,040  
                 
    Long-term inventory expenditures (2,569 ) (866 ) (6,318 ) 4,773   39,430   140,266  
                 
    Dividends paid 26,658   29,505   28,467   112,184   118,676   75,491  
    Per share – Cdn$(4)(6) 0.385   0.375   0.385   1.53   1.50   0.89  
                 
    Shares repurchased 16,408   22,453   20,723   73,789   105,068   221,464  
    Number of shares repurchased (000s) 1,692   1,220   1,585   5,495   5,628   11,821  
                 
    Outstanding shares (end of period) (000s)            
    Basic 98,339   103,812   100,031   98,339   103,812   109,112  
    Weighted average basic 99,063   104,394   100,891   101,414   106,247   113,572  
    Diluted(8) 99,238   104,502   100,933   99,238   104,502   109,939  
                 
    Working capital surplus(5) 59,397   79,027   37,509   59,397   79,027   84,988  
    Bank debt(7) 60,000   90,000   30,000   60,000   90,000   —  
    Cash 98,022   140,352   147,454   98,022   140,352   419,002  

    (1)  Reference to crude oil or natural gas in the above table and elsewhere in this press release refer to the light and medium crude oil and heavy crude oil and conventional natural gas, respectively, product types as defined in National Instrument 51-101 – Standard of Disclosure for Oil and Gas Activities.
    (2)  Non-GAAP ratio. See “Non-GAAP and Other Financial Measures Advisory”.
    (3)  Non-GAAP financial measure. See “Non-GAAP and Other Financial Measures Advisory”.
    (4)  Supplementary financial measure. See “Non-GAAP and Other Financial Measures Advisory”.
    (5)  Capital management measure. See “Non-GAAP and Other Financial Measures Advisory”.
    (6)  Per share amounts (with the exception of dividends) are based on weighted average common shares.
    (7)  Borrowing limit of $240.0 million as of December 31, 2024.
    (8)  Diluted shares as stated include the effects of common shares and stock options outstanding at the period-end. The December 31, 2024 closing stock price was C$14.58 per share.

    Operational Update

    For the period of January 1, 2025, to February 28, 2025, estimated average production was 44,500 boe/d(5).

    Parex currently has two drilling rigs operating (one operated and one non-operated), with expectations to ramp-up to four drilling rigs in Q2 2025 (three operated and one non-operated).

    The Company’s operations are supportive of a growing H2 2025 production profile, with the following activities:

    • Progressing waterflood and polymer injection programs at LLA-34 and Cabrestero.
      • Cabrestero is fully on waterflood, with plans for a full polymer injection scheme that is supported by pilot results to date.
      • LLA-34 continues to ramp-up waterflood activity and is planning to commence a polymer injection pilot in 2025.
    • Planning to begin LLA-32 drilling campaign in Q2 2025.
      • LLA-32 is located to the north and adjacent to LLA-34 and Cabrestero; Parex drilled three successful wells at LLA-32 in 2024.
    • Advancing near-field exploration program, with the expectation to drill 3-4 prospects in H1 2025.
      • Prospects are generally focused in the Southern Llanos where Parex has had previous basin success.
    • Gaining momentum to achieve initial access in the Putumayo in Q2 2025 as originally anticipated.
      • Per budgeted plans, activity is expected to begin with a workover rig, with a drilling rig added approximately mid-year.

    Operations so far this year are progressing within Management expectations and Parex’s 2025 corporate guidance remains as previously released January 14, 2025, and as set out below:

    Category 2025 Guidance
    Brent Crude Oil Average Price $70/bbl
    Average Production(1) 43,000-47,000 boe/d
    Funds Flow Provided by Operations Netback(1)(2) $26-28/boe
    Funds Flow Provided by Operations(1)(3) $425-465 million
    Capital Expenditures(4) $285-315 million
    Free Funds Flow(4) $145 million (midpoint)

    (1) 2025 assumptions: operational downtime: ~5%; Vasconia differential: ~$5/bbl; production expense: $15-16/bbl; transportation expense: ~$3.50/bbl; G&A expense: ~$4.50/bbl; effective tax rate: 3-6%; see “Non-GAAP and Other Financial Measures Advisory”.
    (2) Non-GAAP ratio. See “Non-GAAP and Other Financial Measures Advisory”.
    (3) Capital management measure. See “Non-GAAP and Other Financial Measures Advisory”.
    (4) Non-GAAP financial measure. See “Non-GAAP and Other Financial Measures Advisory”.
    (5) Estimated average production for January 1, 2025 to February 28, 2025; light & medium crude oil: ~9,382 bbl/d, heavy crude oil: ~34,268 bbl/d, conventional natural gas: ~5,100 mcf/d; rounded for presentation purposes.

    Return of Capital

    Q1 2025 Dividend

    Parex’s Board of Directors has approved a Q1 2025 regular dividend of C$0.385 per share to shareholders of record on March 11, 2025, to be paid on March 18, 2025.

    This quarterly dividend payment to shareholders is designated as an “eligible dividend” for purposes of the Income Tax Act (Canada).

    Normal Course Issuer Bid Update

    As at February 28, 2025, Parex has repurchased approximately 0.3 million shares under its current NCIB at an average price of C$14.30 per share, for a total consideration of roughly C$4 million.

    In 2024, Parex repurchased 5.5 million shares under a prior NCIB, representing approximately 5% of the public float and a return of C$99 million to shareholders.

    2024 Year-End Corporate Reserves Report: Discussion

    The following tables summarize information contained in the independent reserves report prepared by GLJ Ltd. (“GLJ”) dated March 4, 2025 with an effective date of December 31, 2024 (the “GLJ 2024 Report”). All December 31, 2024 reserves presented are based on GLJ’s forecast pricing effective January 1, 2025; all December 31, 2023 reserves presented are based on GLJ’s forecast pricing effective January 1, 2024 and all December 31, 2022 reserves presented are based on GLJ’s forecast pricing effective January 1, 2023. GLJ pricing is available on their website at www.gljpc.com.

    All reserves are presented as Parex’s working interest before royalties and in certain tables set forth below, the columns may not add due to rounding. Additional reserve information as required under NI 51-101 will be included in the Company’s Annual Information Form for the 2024 fiscal year, which is available on SEDAR+.

    Gross Reserves Volumes

                Dec. 31   Change over Dec.
    31,
        2022   2023   2024  
    Reserve Category   Mboe   Mboe   Mboe(1)   2023
    Proved Developed Producing (PDP)   82,788   82,628   71,908   (13 %)
    Proved Developed Non-Producing   11,767   7,252   5,534   (24 %)
    Proved Undeveloped   36,100   22,647   34,678   53 %
    Proved (1P)   130,655   112,528   112,119   — %
    Proved + Probable (2P)   200,704   168,625   169,633   1 %
    Proved + Probable + Possible (3P)   281,595   231,299   245,383   6 %

    (1) 2024 net reserves after royalties are: PDP 62,128 Mboe, proved developed non-producing 4,939 Mboe, proved undeveloped 29,644 Mboe, 1P 96,711 Mboe, 2P 146,645 Mboe and 3P 211,882 Mboe.

    Gross Reserves Reconciliation

        Total 1P   Total 2P   Total 3P 
        Mboe   Mboe   Mboe 
    December 31, 2023   112,528   168,625   231,299  
    Technical Revisions(1)   2,777   (5,434 ) (10,870 )
    Extensions & Improved Recovery(2)   4,760   6,636   9,133  
    Discoveries(3)   160   200   240  
    Acquisitions(4)   10,166   17,877   33,853  
    Production   (18,272 ) (18,272 ) (18,272 )
    December 31, 2024(5)   112,119   169,633   245,383  

    (1) Reserves technical revisions are associated with positive evaluations of LLA-34 and Cabrestero, offset by negative revisions of Arauca, Aguas Blancas, and Capachos.
    (2) Extensions & improved recovery are associated with positive evaluations of Cabrestero, LLA-32, and LLA-34.
    (3) Discoveries are associated with the positive evaluation of LLA-30.
    (4) Acquisitions are associated with the positive evaluations of Occidente, Nororiente and Area Sur.
    (5) The estimates of reserves and future net revenue for individual properties may not reflect the same confidence level as estimates of reserves and future net revenue for all properties, due to the effects of aggregation.

    Reserves Net Present Value After Tax Summary – GLJ Brent Forecast(1)(2)

        NPV15     NPV15     NAV   CAD/sh Change
    over
        December 31,     December 31,     December 31,  
          2023     2024     2024   Dec. 31,
    Reserve Category   (000s)(2)     (000s)(2)     (CAD/sh)(3)   2023(4)
    PDP   $ 1,679,078   $ 1,505,386   $ 22.02   4 %
    Proved Developed Non-Producing     112,298     83,310   $ 1.21   (6 %)
    Proved Undeveloped     201,380     230,174   $ 3.36   38 %
    1P   $ 1,992,757   $ 1,818,870   $ 26.60   5 %
    2P   $ 2,556,169   $ 2,430,060   $ 35.55   10 %
    3P   $ 3,191,329   $ 3,102,864   $ 45.39   12 %

    (1) Net present values (“NPV”) are stated in USD and are discounted at 15 percent. The forecast prices used in the calculation of the present value of future net revenue are based on the GLJ January 1, 2024 and GLJ January 1, 2025 price forecasts, respectively. The GLJ January 1, 2025 price forecast is in the Company’s Annual Information Form for the 2024 fiscal year.
    (2) Includes future development capital (“FDC”) as at December 31, 2023 of $27 million for PDP, $346 million for 1P, $537 million for 2P and $707 million for 3P and FDC as at December 31, 2024 of $23 million for PDP, $440 million for 1P, $595 million for 2P and $740 million for 3P.
    (3) 2024 NAV calculated, as at December 31, 2024, as after tax NPV15 plus working capital of USD$59 million (converted at USDCAD=1.4389), less bank debt of USD$60 million, divided by 98 million basic shares outstanding as at December 31, 2024. Non-GAAP ratio. See “Non-GAAP and Other Financial Measures Advisory”.
    (4) 2023 NAV calculated, as at December 31, 2023, as after tax NPV15 plus working capital of USD$79 million (converted at USDCAD=1.3226), less bank debt of USD$90 million, divided by 104 million basic shares outstanding as at December 31, 2023. Non-GAAP ratio. See “Non-GAAP and Other Financial Measures Advisory”.

    Appointment of Chief Financial Officer

    Following a thorough executive search, Cameron Grainger has been appointed as Chief Financial Officer (“CFO”), effective immediately.

    “We are very pleased to announce Cam as CFO. He is a trusted leader, who has developed an exceptional understanding of our portfolio while providing over 15 years of financial leadership at Parex. I look forward to continuing to work with Cam as he plays an integral role on our leadership team and am confident that he will continue to make significant contributions in support of our strategy,” said Imad Mohsen, President & Chief Executive Officer.

    Mr. Grainger has served as the Company’s interim CFO since September 21, 2024, and prior to, was the Vice President, Finance, as well as Controller. Mr. Grainger has held roles with increasing levels of responsibility at Parex since 2011, and is a Chartered Professional Accountant.

    Board of Directors Update

    The Company announces that Lisa Colnett as well as Robert Engbloom are retiring from the Board of Directors and will not stand for re-election at the upcoming Annual General Meeting of Shareholders (“Meeting”).

    “We want to thank Lisa and Bob for their contributions that have supported Parex’s growth in Colombia and wish them all the best,” commented Wayne Foo, Chair of the Board of Parex.

    In preparation for the upcoming retirements, the Company has approved Mona Jasinski and Jeff Lawson as director nominees at the upcoming Meeting.

    “We are excited to recommend Mona and Jeff to Parex’s Board of Directors, both of whom have a wealth of experience across the energy sector and bring refreshed perspectives,” commented Mr. Foo.

    Ms. Jasinski has over 20 years of human resources, corporate strategy and leadership expertise with experience spanning the energy and chemicals sectors as well as philanthropic boards. She is currently the Senior Vice President, HR & Communications at NOVA Chemicals. Prior to NOVA Chemicals, she built a depth of energy-specific experience, serving as Executive Vice President, People and Culture, at Vermilion Energy for 12 years, and previously held leadership roles at Royal Dutch Shell and TransCanada Pipelines. Ms. Jasinski holds a Master of Business Administration from the University of Calgary and an ICD.D designation from the Institute of Corporate Directors.

    Mr. Lawson has extensive experience in corporate strategy, mergers & acquisitions as well as investments and corporate restructurings across the energy and legal sectors. He is currently the Senior Vice President, Corporate Development and Chief Sustainability Officer at Cenovus Energy. Prior to Cenovus, he spent 15 years at Peters & Co. in a variety of senior finance roles and he was also a securities lawyer at Burnet, Duckworth & Palmer for 14 years where he co-led the securities group and served on the firm’s executive committee. Mr. Lawson holds a Bachelor of Laws from the University of Alberta.

    Q4 2024 and FY 2024 Results – Conference Call & Webcast

    Parex will host a conference call and webcast to discuss its Q4 2024 and FY 2024 results on Thursday, March 6, 2025, beginning at 9:30 am MT (11:30 am ET). To participate in the conference call or webcast, please see the access information below:

    Conference ID: 2908137
    Participant Toll-Free Dial-In Number: 1-646-307-1963
    Participant International Dial-In Number: 1-647-932-3411
    Webcast: https://events.q4inc.com/attendee/690785926


    Annual General Meeting

    Parex anticipates holding its Annual General Meeting of Shareholders on Thursday, May 8, 2025.

    The Notice of Annual General Meeting & Management Proxy Circular is expected to be available on or about March 26, 2025, at www.parexresources.com and SEDAR+.

    About Parex Resources Inc.

    Parex is one of the largest independent oil and gas companies in Colombia, focusing on sustainable conventional production. The Company’s corporate headquarters are in Calgary, Canada, with an operating office in Bogotá, Colombia. Parex shares trade on the Toronto Stock Exchange under the symbol PXT.

    For more information, please contact:

    Mike Kruchten
    Senior Vice President, Capital Markets & Corporate Planning
    Parex Resources Inc.
    403-517-1733
    investor.relations@parexresources.com

    Steven Eirich
    Investor Relations & Communications Advisor
    Parex Resources Inc.
    587-293-3286
    investor.relations@parexresources.com

    NOT FOR DISTRIBUTION OR FOR DISSEMINATION IN THE UNITED STATES

    Reserves Advisory

    The recovery and reserve estimates of crude oil reserves provided in this news release are estimates only, and there is no guarantee that the estimated reserves will be recovered. Actual crude oil reserves may eventually prove to be greater than, or less than, the estimates provided herein. All December 31, 2024 reserves presented are based on GLJ’s forecast pricing effective January 1, 2025. All December 31, 2023 reserves presented are based on GLJ’s forecast pricing effective January 1, 2024. All December 31, 2022 reserves presented are based on GLJ’s forecast pricing effective January 1, 2023.

    Comparatives to the independent reserves report prepared by GLJ dated February 29, 2024 with an effective date of December 31, 2023 (the “GLJ 2023 Report”), and the independent reserves report prepared by GLJ dated February 2, 2023 with an effective date of December 31, 2022 (“GLJ 2022 Report”, and collectively with the GLJ 2024 Report and the GLJ 2023 Report, the “GLJ Reports”). Each GLJ Report was prepared in accordance with definitions, standards and procedures contained in the Canadian Oil and Gas Evaluation Handbook (“COGE Handbook”) and National Instrument 51-101 – Standards of Disclosure for Oil and Gas Activities (“NI 51-101”).

    It should not be assumed that the estimates of future net revenues presented herein represent the fair market value of the reserves. There are numerous uncertainties inherent in estimating quantities of crude oil, reserves and the future cash flows attributed to such reserves.

    “Proved Developed Producing Reserves” are those reserves that are expected to be recovered from completion intervals open at the time of the estimate. These reserves may be currently producing or, if shut-in, they must have previously been on production, and the date of resumption of production must be known with reasonable certainty.

    “Proved Developed Non-Producing Reserves” are those reserves that either have not been on production or have previously been on production but are shut-in and the date of resumption of production is unknown.

    “Proved Undeveloped Reserves” are those reserves expected to be recovered from known accumulations where a significant expenditure (e.g. when compared to the cost of drilling a well) is required to render them capable of production. They must fully meet the requirements of the reserves category (proved, probable, possible) to which they are assigned.

    “Proved” reserves are those reserves that can be estimated with a high degree of certainty to be recoverable. It is likely that the actual remaining quantities recovered will exceed the estimated proved reserves.

    “Probable” reserves are those additional reserves that are less certain to be recovered than proved reserves. It is equally likely that the actual remaining quantities recovered will be greater or less than the sum of the estimated proved plus probable reserves.

    “Possible” reserves are those additional reserves that are less certain to be recovered than probable reserves. There is a 10 percent probability that the quantities actually recovered will equal or exceed the sum of proved plus probable plus possible reserves. It is unlikely that the actual remaining quantities recovered will exceed the sum of the estimated proved plus probable plus possible reserves.

    The term “Boe” means a barrel of oil equivalent on the basis of 6 Mcf of natural gas to 1 barrel of oil (“bbl”). Boe’s may be misleading, particularly if used in isolation. A boe conversation ratio of 6 Mcf: 1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Given the value ratio based on the current price of crude oil as compared to natural gas is significantly different from the energy equivalency of 6:1, utilizing a conversion ratio at 6:1 may be misleading as an indication of value.

    Light crude oil is crude oil with a relative density greater than 31.1 degrees API gravity, medium crude oil is crude oil with a relative density greater than 22.3 degrees API gravity and less than or equal to 31.1 degrees API gravity, and heavy crude oil is crude oil with a relative density greater than 10 degrees API gravity and less than or equal to 22.3 degrees API gravity.

    With respect to F&D costs, the aggregate of the exploration and development costs incurred in the most recent financial year and the change during that year in estimated future development costs generally will not reflect total F&D costs related to reserve additions for that year. The estimates of reserves and future net revenue for individual properties may not reflect the same confidence level as estimates of reserves and future net revenue for all properties, due to the effects of aggregation.

    This press release contains several oil and gas metrics, including reserve replacement, reserve additions including acquisitions, and reserve life index. In addition, the following non-GAAP financial measures and non-GAAP ratios, as described below under “Non-GAAP and Other Financial Measures”, can be considered to be oil and gas metrics: F&D costs, FD&A costs, F&D recycle ratio, FD&A recycle ratio, operating netback, funds flow provided by operations, funds flow provided by operations netback, reserve replacement and NAV.   Such oil and gas metrics have been prepared by management and do not have standardized meanings or standard methods of calculation and therefore such measures may not be comparable to similar measures used by other companies and should not be used to make comparisons. Such metrics have been included herein to provide readers with additional measures to evaluate the Company’s performance; however, such measures are not reliable indicators of the future performance of the Company and future performance may not compare to the performance in previous periods and therefore such metric should not be unduly relied upon. Management uses these oil and gas metrics for its own performance measurements and to provide security holders with measures to compare the Company’s operations over time. Readers are cautioned that the information provided by these metrics, or that can be derived from the metrics presented in this news release, should not be relied upon for investment or other purposes. A summary of the calculations of reserve replacement and RLI are as follows, with the other oil and gas metrics referred to above being described herein under “Non-GAAP and Other Financial Measures”:

    • Reserve additions including acquisitions is calculated by the change in reserves category and adding current year annual production.
    • Reserve replacement is calculated by dividing the annual reserve additions by the annual production.
    • Reserve life index is calculated by dividing the applicable reserves category by the annualized fourth quarter average production.

    2024 Year-End Corporate Reserves Report: Supplemental Reserves Tables

    All reserves are presented as Parex working interest before royalties and in certain tables set forth below, the columns may not add due to rounding.

    Gross Reserves by Area(1)

        1P 2P 3P
    Area   Mboe(1) Mboe(1) Mboe(1)
    LLA-34   63,320 88,823 120,283
    Southern Llanos   20,634 30,487 37,749
    Northern Llanos   12,246 18,007 24,113
    Magdalena   5,754 14,439 29,384
    Putumayo   10,166 17,877 33,853
    Total   112,119 169,633 245,383

    (1) The estimates of reserves and future net revenue for individual properties may not reflect the same confidence level as estimates of reserves and future net revenue for all properties, due to the effects of aggregation.

    Gross Reserves Volumes by Product Type

    Product Type   PDP 1P 2P 3P
    Light & Medium Crude Oil (Mbbl)   10,084 30,138 51,422 84,901
    Heavy Crude Oil (Mbbl)   58,654 76,788 107,161 140,348
    Natural Gas Liquids (Mbbl)   480 1,207 1,643 2,108
    Conventional Natural Gas (MMcf)   16,139 23,915 56,441 108,155
    Oil Equivalent (Mboe)   71,908 112,119 169,633 245,383


    Gross Reserves Volumes Per Share    (1)

        Dec. 31 Change over
    Dec. 31, 2022
        2022 2023 2024(1)
    Year-End Basic Outstanding Shares (000s)   109.1 103.8 98.3 (5 %)
    PDP (boe/share)   0.76 0.80 0.73 (9 %)
    1P (boe/share)   1.20 1.08 1.14 6 %
    2P (boe/share)   1.84 1.62 1.72 6 %
    3P (boe/share)   2.58 2.23 2.50 12 %

    (1) 2024 net reserves after royalties are: PDP 62,128 Mboe, proved developed non-producing 4,939 Mboe, proved undeveloped 29,644 Mboe, 1P 96,711 Mboe, 2P 146,645 Mboe and 3P 211,882 Mboe.

    Reserve Replacement Ratio and Reserve Life Index

        Dec. 31, 2022(1) Dec. 31, 2023(2) Dec. 31, 2024(3) 3-Year
    PDP          
    Reserve Replacement Ratio   112 % 99 % 41 % 85 %
    Reserve Life Index   4.2 years 3.9 years 4.3 years 4.1 years
    1P          
    Reserve Replacement Ratio   128 % 9 % 98 % 77 %
    Reserve Life Index   6.6 years 5.4 years 6.8 years 6.2 years
    2P          
    Reserve Replacement Ratio   110 % (62 %) 106 % 49 %
    Reserve Life Index   10.1 years 8.1 years 10.3 years 9.4 years

    (1) Calculated by dividing the amount of the relevant reserves category by average Q4 2022 production of 54,257 boe/d annualized (consisting of 10,511 bbl/d of light crude oil and medium crude oil, 42,746 bbl/d of heavy crude oil and 6,000 mcf/d of conventional natural gas).
    (2) Calculated by dividing the amount of the relevant reserves category by average Q4 2023 production of 57,329 boe/d annualized (consisting of 9,700 bbl/d of light crude oil and medium crude oil, 46,760 bbl/d of heavy crude oil and 5,214 mcf/d of conventional natural gas).
    (3) Calculated by dividing the amount of the relevant reserves category by estimated average Q4 2024 production of 45,297 boe/d annualized (consisting of 9,550 bbl/d of light crude oil and medium crude oil, 34,882 bbl/d of heavy crude oil and 5,190 mcf/d of conventional natural gas).

    Future Development Capital (“FDC”) (000s)(1)

    Reserve Category 2025 2026 2027 2028 2029+ Total FDC Total
    FDC/boe
    PDP $ 23,467 $ — $ — $ — $ — $ 23,467 $ 0.33
    1P $ 239,609 $ 113,210 $ 73,861 $ 13,000 $ 622 $ 440,302 $ 3.93
    2P $ 241,934 $ 157,800 $ 157,181 $ 17,166 $ 21,317 $ 595,398 $ 3.51

    (1) FDC are stated in USD, undiscounted and based on GLJ January 1, 2025 price forecasts.

    Summary of Reserve Metrics – Company Gross

        2024 3-Year
      PDP 1P 2P PDP 1P 2P
    F&D Costs ($/boe)(1) 45.60 36.11 169.52 27.90 36.91 122.51
    FD&A Costs ($/boe)(1) 45.60 24.75 21.09 27.90 32.21 49.94
    Recycle Ratio – F&D(1) 0.9 x 1.1 x 0.2 x 1.7 x 1.3 x 0.4 x
    Recycle Ratio – FD&A(1) 0.9 x 1.7 x 2.0 x 1.7 x 1.5 x 1.0 x

    (1) Non-GAAP ratio. See “Non-GAAP and Other Financial Measures Advisory”.

    Non-GAAP and Other Financial Measures Advisory

    This press release uses various “non-GAAP financial measures”, “non-GAAP ratios”, “supplementary financial measures” and “capital management measures” (as such terms are defined in NI 52-112), which are described in further detail below. Such measures are not standardized financial measures under IFRS and might not be comparable to similar financial measures disclosed by other issuers. Investors are cautioned that non-GAAP financial measures should not be construed as alternatives to or more meaningful than the most directly comparable GAAP measures as indicators of Parex’s performance.

    These measures facilitate management’s comparisons to the Company’s historical operating results in assessing its results and strategic and operational decision-making and may be used by financial analysts and others in the oil and natural gas industry to evaluate the Company’s performance. Further, management believes that such financial measures are useful supplemental information to analyze operating performance and provide an indication of the results generated by the Company’s principal business activities.

    Set forth below is a description of the non-GAAP financial measures, non-GAAP ratios, supplementary financial measures and capital management measures used in this press release.

    Non-GAAP Financial Measures

    Capital expenditures, is a non-GAAP financial measure which the Company uses to describe its capital costs associated with oil and gas expenditures. The measure considers both property, plant and equipment expenditures and exploration and evaluation asset expenditures which are items in the Company’s statement of cash flows for the period and is calculated as follows:

      For the three months ended   For the year ended
      December 31,   September 30,   December 31,
    ($000s)   2024     2023     2024     2024     2023     2022
    Property, plant and equipment expenditures $ 62,799   $ 50,753   $ 68,406   $ 221,250   $ 310,933   $ 389,979
    Exploration and evaluation expenditures   19,311     40,666     13,961     126,445     172,410     122,273
    Capital expenditures $ 82,110   $ 91,419   $ 82,367   $ 347,695   $ 483,343   $ 512,252


    Free funds flow,     is a non-GAAP financial measure that is determined by funds flow provided by operations less capital expenditures. The Company considers free funds flow to be a key measure as it demonstrates Parex’s ability to fund returns of capital, such as the normal course issuer bid and dividends, without accessing outside funds and is calculated as follows:

      For the three months ended     For the year ended
    		  
      December 31,   September 30,     December 31,
    		  
    ($000s)   2024     2023     2024       2024     2023     2022  
    Cash provided by operating activities $ 67,847   $ 194,242     $ 181,874     $ 569,915   $ 376,471   $ 983,602  
    Net change in non-cash assets and liabilities   73,354     (865 )     (30,101 )     52,318     291,311     (258,712 )
    Funds flow provided by operations   141,201     193,377       151,773       622,233     667,782     724,890  
    Capital expenditures   82,110     91,419       82,367       347,695     483,343     512,252  
    Free funds flow $ 59,091   $ 101,958     $ 69,406     $ 274,538   $ 184,439   $ 212,638  


    EBITDA,     is a non-GAAP financial measure that is defined as net income (loss) adjusted for finance income and expense, other expenses, income tax expense (recovery) and depletion, depreciation and amortization.

    Adjusted EBITDA, is a non-GAAP financial measure defined as EBITDA adjusted for non-cash impairment charges, share-based compensation expense (recovery), unrealized foreign exchange gains (losses), and unrealized gains (losses) on risk management contracts.

    The Company considers EBITDA and Adjusted EBITDA to be key measures as they demonstrate Parex’s profitability before finance income and expenses, taxes, depletion, depreciation and amortization and other non-cash items. A reconciliation from net income to EBITDA and Adjusted EBITDA is as follows:

      For the three months ended
    		     For the year ended
    		  
      December 31,   September 30,     December 31,
    		  
    ($000s)   2024       2023       2024       2024       2023       2022  
    Net income (loss) $ (69,051 )   $ 133,783     $ 65,793     $ 60,680     $ 459,309     $ 611,368  
    Adjustments to reconcile net income (loss) to EBITDA:                      
    Finance income   (998 )     (2,067 )     (963 )     (4,315 )     (14,055 )     (9,015 )
    Finance expenses   4,318       2,878       5,676       18,408       13,834       8,393  
    Other expense   2,208       362       1,818       6,227       2,582       1,315  
    Income tax expense (recovery)   (880 )     (81,929 )     42,767       248,592       (5,070 )     191,798  
    Depletion, depreciation and amortization   53,984       57,833       52,672       215,770       194,229       149,351  
    EBITDA $ (10,419 )   $ 110,860     $ 167,763     $ 545,362     $ 650,829     $ 953,210  
    Non-cash impairment charges   137,841       85,330       —       142,502       142,540       103,394  
    Share-based compensation expense (recovery)   6,149       7,674       (7,994 )     1,462       30,364       19,128  
    Unrealized foreign exchange loss (gain)   2,581       (2,312 )     4,233       29,603       (6,453 )     (9,692 )
    Unrealized loss on risk management contracts   1,160       —       —       1,160       —       —  
    Adjusted EBITDA $ 137,312     $ 201,552     $ 164,002     $ 720,089     $ 817,280     $ 1,066,040  


    Non-GAAP Ratios

    Operating netback per boe, is a non-GAAP ratio the Company considers operating netback per boe to be a key measure as it demonstrates Parex’s profitability relative to current commodity prices. Parex calculates operating netback per boe as operating netback divided by the total equivalent sales volume including purchased oil volumes for oil and natural gas sales price and transportation expense per boe and by the total equivalent sales volume and excludes purchased oil volumes for royalties and operating expense per boe.

    Funds flow provided by operations netback per boe, is a non-GAAP ratio that includes all cash generated from operating activities and is calculated before changes in non-cash working capital, divided by produced oil and natural gas sales volumes. The Company considers funds flow provided by operations netback per boe to be a key measure as it demonstrates Parex’s profitability after all cash costs relative to current commodity prices.

    Finding & Development Costs (F&D costs) per boe and Finding, Development and Acquisition Costs (FD&A costs) per boe, is a non-GAAP ratio that helps to explain the cost of finding and developing additional oil and gas reserves. F&D costs are determined by dividing capital expenditures plus the change in FDC in the period divided by BOE reserve additions in the period. FD&A costs per boe are determined by dividing capital expenditures in the period plus the change in FDC plus acquisition costs divided by BOE reserve additions in the period.

    F&D and FD&A Costs(1)   2024   3-Year
    		  
    ($000s) PDP   1P   2P   PDP 1P   2P  
                 
    Capital Expenditures(2) 347,695   347,695   347,695   1,343,290 1,343,290   1,343,290  
    Capital Expenditures – change in FDC (3,321 ) (69,775 ) (109,856 ) 8,730 (95,935 ) (113,170 )
    Total Capital 344,374   277,920   237,839   1,352,020 1,247,355   1,230,120  
                 
    Net Acquisitions —   —   —   — —   —  
    Net Acquisitions – change in FDC —   164,207   168,739   — 168,739   164,207  
    Total Net Acquisitions —   164,207   168,739   — 168,739   164,207  
                 
    Total Capital including Acquisitions 344,374   442,127   406,578   1,352,020 1,416,094   1,394,327  
                 
    Reserve Additions 7,552   7,697   1,403   48,459 33,797   10,041  
    Net Acquisitions Reserve Additions —   10,166   17,877   — 10,166   17,877  
    Reserve Additions including Acquisitions (Mboe) 7,552   17,863   19,280   48,459 43,963   27,918  
                 
    F&D Costs ($/boe) 45.60   36.11   169.52   27.90 36.91   122.51  
    FD&A Costs ($/boe) 45.60   24.75   21.09   27.90 32.21   49.94  

    (1) All reserves are presented as Parex working interest before royalties.
    (2) Calculated using capital expenditures for the period ended December 31, 2024.

    Recycle ratio, is a non-GAAP ratio that measures the profit per barrel of oil to the cost of finding and developing that barrel of oil. The recycle ratio is determined by dividing the annual operating netback per boe by the F&D costs and FD&A costs in the period.

        2024   3-Year
    		  
      PDP 1P 2P   PDP 1P 2P  
                     
    Operating netback ($/boe) 41.30 41.30 41.30   48.43 48.43 48.43  
                     
    F&D Costs(2) ($/boe) 45.60 36.11 169.52   27.90 36.91 122.51  
    FD&A Costs(2) ($/boe) 45.60 24.75 21.09   27.90 32.21 49.94  
                     
    Recycle Ratio – F&D(1) 0.9 x 1.1 x 0.2 x   1.7 x 1.3 x 0.4 x  
    Recycle Ratio – FD&A(1) 0.9 x 1.7 x 2.0 x   1.7 x 1.5 x 1.0 x  

    (1) Recycle ratio is calculated as operating netback per boe divided by F&D or FD&A as applicable. Three-year operating netback on a per boe basis is calculated using weighted average sales volumes.

    Net Asset Value (“NAV”) per share, is a non-GAAP ratio that combines the 51-101 NPV15 value after tax with the Company’s estimated working capital at the period end date, less bank debt at the period end date, divided by common shares outstanding at the period end date. The Company uses the NAV per share as a way to reflect the Company’s value considering existing working capital on hand, less bank debt, plus the NPV15 after tax value on Oil and Gas Reserves. NAV per share is stated in CAD dollars using an exchange rate of USDCAD=1.4389. NAV is defined as total assets less total liabilities.

    Net Asset Value (“NAV”) per boe, is a non-GAAP ratio that combines the 51-101 NPV15 value after tax with the Company’s estimated working capital at the period end date, less bank debt at the period end date, divided by reserve volumes at the period end date. The Company uses the NAV per boe as a way to reflect the Company’s value considering existing working capital on hand, less bank debt, plus the NPV15 after tax value on Oil and Gas Reserves. Net asset value is defined as total assets less total liabilities.

    Basic funds flow provided by operations per share is a non-GAAP ratio that is calculated by dividing funds flow provided by operations by the weighted average number of basic shares outstanding. Parex presents basic funds flow provided by operations per share whereby per share amounts are calculated using weighted-average shares outstanding, consistent with the calculation of earnings per share.

    Capital Management Measures

    Funds flow provided by operations, is a capital management measure that includes all cash generated from operating activities and is calculated before changes in non-cash assets and liabilities. The Company considers funds flow provided by operations to be a key measure as it demonstrates Parex’s profitability after all cash costs. A reconciliation from cash provided by operating activities to funds flow provided by operations is as follows:

      For the three months ended
    		     For the year ended
    		  
      December 31,   September 30,     December 31,
    		  
    ($000s)   2024     2023       2024       2024     2023     2022  
    Cash provided by operating activities $ 67,847   $ 194,242     $ 181,874     $ 569,915   $ 376,471   $ 983,602  
    Net change in non-cash assets and liabilities   73,354     (865 )     (30,101 )     52,318     291,311     (258,712 )
    Funds flow provided by operations $ 141,201   $ 193,377     $ 151,773     $ 622,233   $ 667,782   $ 724,890  


    Working capital surplus,     is a capital management measure which the Company uses to describe its liquidity position and ability to meet its short-term liabilities. Working capital surplus is defined as current assets less current liabilities.

      For the three months ended   For the year ended
      December 31,   September 30,   December 31,
    ($000s)   2024     2023     2024     2024     2023     2022
    Current assets $ 245,943   $ 337,175   $ 248,208   $ 245,943   $ 337,175   $ 593,602
    Current liabilities   186,546     258,148     210,699     186,546     258,148     508,614
    Working capital surplus $ 59,397   $ 79,027   $ 37,509   $ 59,397   $ 79,027   $ 84,988

    Supplementary Financial Measures

    “Oil and natural gas sales per boe” is determined by sales revenue excluding risk management contracts, as determined in accordance with IFRS, divided by total equivalent sales volume including purchased oil volumes.

    “Royalties per boe” is comprised of royalties, as determined in accordance with IFRS, divided by the total equivalent sales volume and excludes purchased oil volumes.

    “Net revenue per boe” is comprised of net revenue, as determined in accordance with IFRS, divided by the total equivalent sales volume and includes purchased oil volumes.

    “Production expense per boe” is comprised of production expense, as determined in accordance with IFRS, divided by the total equivalent sales volume and excludes purchased oil volumes.

    “Transportation expense per boe” is comprised of transportation expense, as determined in accordance with IFRS, divided by the total equivalent sales volumes including purchased oil volumes.

    “Dividends paid per share” is comprised of dividends declared, as determined in accordance with IFRS, divided by the number of shares outstanding at the dividend record date.

    Dividend Advisory

    The Company’s future shareholder distributions, including but not limited to the payment of dividends and the acquisition by the Company of its shares pursuant to an NCIB, if any, and the level thereof is uncertain. Any decision to pay further dividends on the common shares (including the actual amount, the declaration date, the record date and the payment date in connection therewith and any special dividends) or acquire shares of the Company will be subject to the discretion of the Board of Directors of Parex and may depend on a variety of factors, including, without limitation the Company’s business performance, financial condition, financial requirements, growth plans, expected capital requirements and other conditions existing at such future time including, without limitation, contractual restrictions and satisfaction of the solvency tests imposed on the Company under applicable corporate law. Further, the actual amount, the declaration date, the record date and the payment date of any dividend are subject to the discretion of the Board. There can be no assurance that the Company will pay dividends or repurchase any shares of the Company in the future.

    Advisory on Forward-Looking Statements

    In particular, forward-looking statements contained in this document include, but are not limited to, statements with respect to the Company’s operational and financial position; the Company’s plan, strategy and focus; the focus of the Company’s 2025 operational plan; Parex’s plan of rebuilding market confidence by delivering steady results, evolving its Colombian portfolio and strengthening its track record of shareholder returns, while also progressing towards Llanos Foothills exploration in 2026; Parex’s FY 2025 average production guidance; the anticipated Board nominees at Parex’s upcoming Meeting; the anticipated number of operating and non-operating drilling rigs that Parex will have in Q2 2025; expectations that the Company’s operations are supportive of a growing H2 2025 production profile and the Company’s anticipated activities at certain of its locations, including the anticipated timing thereof; the Company’s 2025 guidance, including anticipated Brent crude oil average price, average production, funds flow provided by operations netback, funds flow provided by operations, capital expenditures and free funds flow; the anticipated terms of the Company’s Q1 2025 regular quarterly dividend including its expectation that it will be designated as an “eligible dividend”; the anticipated date and time of Parex’s 2025 Meeting and the release of its 2024 Annual Information Form; and the anticipated date of Parex’s conference call. In addition, statements relating to “reserves” are by their nature forward-looking statements, as they involve the implied assessment, based on certain estimates and assumptions that the reserves described can be profitably produced in the future. The recovery and reserve estimates of Parex’s reserves provided herein are estimates only and there is no guarantee that the estimated reserves will be recovered.

    These forward-looking statements are subject to numerous risks and uncertainties, including but not limited to, the impact of general economic conditions in Canada and Colombia; determinations by OPEC and other countries as to production levels; volatility in commodity prices; industry conditions including changes in laws and regulations including adoption of new environmental laws and regulations, and changes in how they are interpreted and enforced, in Canada and Colombia; competition; lack of availability of qualified personnel; the results and timelines of exploration and development drilling, test, monitoring and work programs and related activities; obtaining required approvals of regulatory authorities, in Canada and Colombia; risks associated with negotiating with foreign governments as well as country risk associated with conducting international activities; volatility in market prices for oil; fluctuations in foreign exchange or interest rates; environmental risks; changes in income tax laws or changes in tax laws and incentive programs relating to the oil industry; changes to pipeline capacity; ability to access sufficient capital from internal and external sources; risk that Parex’s evaluation of its existing portfolio of development and exploration opportunities is not consistent with its expectations; that production test results may not necessarily be indicative of long term performance or of ultimate recovery; the risk that Parex may not commence exploration activities in the Llanos Foothills area when anticipated, or at all; the risk that Parex’s FY 2025 average production may be less than anticipated; the risk that Parex may have less operating and non-operating drilling rigs in Q2 2025 than anticipated; the risk that Parex’s financial and operating results may not be consistent with its expectations; the risk that the Company may not release its Annual Information Form or hold its 2025 Meeting when anticipated; the risk that Parex may not have sufficient financial resources in the future to provide distributions to its shareholders; the risk that the Board may not declare dividends in the future or that Parex’s dividend policy changes;and other factors, many of which are beyond the control of the Company. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on these and other factors that could affect Parex’s operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR+ website (www.sedarplus.ca).

    Although the forward-looking statements contained in this document are based upon assumptions which Management believes to be reasonable, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. With respect to forward-looking statements contained in this document, Parex has made assumptions regarding, among other things: current and anticipated commodity prices and royalty regimes; availability of skilled labour; timing and amount of capital expenditures; future exchange rates; the price of oil, including the anticipated Brent oil prices; the impact of increasing competition; conditions in general economic and financial markets; availability of drilling and related equipment; effects of regulation by governmental agencies; receipt of partner, regulatory and community approvals; royalty rates; future operating costs; uninterrupted access to areas of Parex’s operations and infrastructure; recoverability of reserves and future production rates; the status of litigation; timing of drilling and completion of wells; on-stream timing of production from successful exploration wells; operational performance of non-operated producing fields; pipeline capacity; that Parex will have sufficient cash flow, debt or equity sources or other financial resources required to fund its capital and operating expenditures and requirements as needed; that Parex’s conduct and results of operations will be consistent with its expectations; that Parex will have the ability to develop its oil and gas properties in the manner currently contemplated; that Parex’s evaluation of its existing portfolio of development and exploration opportunities is consistent with its expectations; current or, where applicable, proposed industry conditions, laws and regulations will continue in effect or as anticipated as described herein; that the estimates of Parex’s production and reserves volumes and the assumptions related thereto (including commodity prices and development costs) are accurate in all material respects; that Parex will be able to obtain contract extensions or fulfill the contractual obligations required to retain its rights to explore, develop and exploit any of its undeveloped properties; that Parex will have sufficient financial resources in the future to pay a dividend and repurchase its shares in the future; that the Board will declare dividends in the future; and other matters.

    Management has included the above summary of assumptions and risks related to forward-looking information provided in this document in order to provide shareholders with a more complete perspective on Parex’s current and future operations and such information may not be appropriate for other purposes. Parex’s actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what benefits Parex will derive. These forward-looking statements are made as of the date of this document and Parex disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

    This press release contains information that may be considered a financial outlook under applicable securities laws about the Company potential financial position, including, but not limited to: the Company’s 2025 guidance, including anticipated funds flow provided by operations netback, funds flow provided by operations, capital expenditures and free funds flow; and the anticipated terms of the Company’s Q1 2025 regular quarterly dividend including its expectation that it will be designated as an “eligible dividend”. Such financial outlook has been prepared by Parex’s management to provide an outlook of the Company’s activities and results. The financial outlook has been prepared based on a number of assumptions including the assumptions discussed above and assumptions with respect to the costs and expenditures to be incurred by the Company, including capital equipment and operating costs, foreign exchange rates, taxation rates for the Company, general and administrative expenses and the prices to be paid for the Company’s production.

    Management does not have firm commitments for all of the costs, expenditures, prices or other financial assumptions used to prepare the financial outlook or assurance that such operating results will be achieved and, accordingly, the complete financial effects of all of those costs, expenditures, prices and operating results are not objectively determinable. The actual results of operations of the Company and the resulting financial results will likely vary from the amounts set forth in the analysis presented in this press release, and such variations may be material. The Company and Management believe that the financial outlook has been prepared on a reasonable basis, reflecting the best estimates and judgments, and represent, to the best of Management’s knowledge, Parex’s expected expenditures and results of operations. However, because this information is highly subjective and subject to numerous risks including the risks discussed above, it should not be relied on as necessarily indicative of future results. Except as required by applicable securities laws, the Company undertakes no obligation to update such financial outlook. The financial outlook contained in this press release was made as of the date of this press release and was provided for the purpose of providing further information about the Company’s potential future business operations. Readers are cautioned that the financial outlook contained in this press release is not conclusive and is subject to change.

    The following abbreviations used in this press release have the meanings set forth below:

    PDP proved developed producing
    1P proved
    2P proved plus probable
    3P proved plus probable plus possible
    bbl one barrel
    bbls barrels
    bbl/d barrels per day
    boe barrels of oil equivalent; one barrel of oil or natural gas liquids for six thousand cubic feet of natural gas
    boe/d barrels of oil equivalent per day
    mbbl thousands of barrels
    mboe thousand barrels of oil equivalent
    mcf thousand cubic feet
    mcf/d thousand cubic feet per day
    mmboe one million barrels of oil equivalent
    mmcf one million cubic feet
    W.I. working interest

    PDF available: 

    http://ml.globenewswire.com/Resource/Download/dc94d190-6b5f-48f2-9d09-33ac94624887

    The MIL Network –

  • MIL-OSI: Region 16 ESC Edge Data Center Grand Opening

    Source: GlobeNewswire (MIL-OSI)

    AMARILLO, Texas, March 05, 2025 (GLOBE NEWSWIRE) — Region 16 Education Service Center (ESC), in collaboration with Duos Edge AI, Inc. (“Duos Edge AI”), a subsidiary of Duos Technologies Group, Inc. (Nasdaq: DUOT), proudly announces the grand opening of an advanced Edge Data Center (“EDC”) on March 18, 2025. In partnership with FiberLight, this milestone marks a transformative leap in connectivity, AI-driven education, and economic development for the Texas Panhandle. The Duos Edge AI EDC will expand digital access for schools, fuel job creation, and strengthen regional infrastructure to support long-term growth and innovation.

    Event Details:

    Date: Tuesday, March 18th, 2025
    Time: 9:00 AM – 1:00 PM CT
    Location: Region 16 ESC, located at 5800 Bell Street in Amarillo, Texas

    To RSVP for the event, please click here.
    To live stream the event, please watch here.

    The grand opening event includes a “ribbon cutting” and will feature an impressive lineup of industry leaders and experts, including Doug Recker, President and Founder, Duos Edge AI; Chuck Ferry, Chief Executive Officer, Duos Technologies Group and New APR Energy; Ron Kormos, Chief Strategy Officer, FiberLight; Tanya Larkin EdD, Executive Director, Region 16. These distinguished speakers will share insights on the future of edge computing, AI integration, and the impact of this new data center on regional development.

    “We’re looking forward to hosting this event, bringing together leaders in the community and industry alike to mark this milestone,” stated Michael Keough, CIO of Region 16 ESC. “It’s the beginning of a new chapter for the Texas Panhandle as we bring enhanced connectivity and resources to the area.”

    The launch event will showcase the cutting-edge technology housed within the new data center, demonstrating how it will drive innovation and economic growth in the region. “This grand opening represents a significant step forward in our mission to bring advanced AI capabilities closer to where data is generated,” said Doug Recker, President and Founder of Duos Edge AI. “We’re thrilled to partner with Region 16 to make this vision a reality.”

    “FiberLight’s partnership with Region 16 and Duos Edge AI goes beyond delivering fiber—it’s about creating a lasting impact,” said Ron Kormos, Chief Strategy Officer at FiberLight. “While our fiber infrastructure will immediately transform learning experiences for students and educators, its long-term benefit will extend across the Texas Panhandle. By establishing a strong fiber backbone, we’re enabling better education and also building the foundation for economic growth, business expansion, and improved public services. This investment will help bridge the digital divide, fostering a more connected and thriving community for years to come.”

    To learn more about Region 16 ESC, please visit www.esc16.net
    To learn more about Duos Edge AI, please visit www.duosedge.ai
    To learn more about FiberLight, please visit www.fiberlight.com

    About Region 16 Education Service Center:
    Located in Amarillo, Texas, Region 16 Education Service Center serves 60 school districts and three charter schools with 226 campuses in a 26,000 square mile area. Region 16 school districts have an average daily attendance of over 83,000 students, with individual districts ranging from fewer than 30 to more than 29,000 students and the total regional school staff numbering more than 12,800.

    About Duos Edge AI, Inc. 
    Duos Edge AI, Inc. is a subsidiary of Duos Technologies Group, Inc. (Nasdaq: DUOT). Duos Edge AI’s mission is to bring advanced technology to underserved communities, particularly in education, healthcare, and rural industries, by deploying high-powered edge computing solutions that minimize latency and optimize performance. Duos Edge AI specializes in high-function Edge Data Center (“EDC”) solutions tailored to meet evolving needs in any environment. By focusing on providing scalable IT resources that seamlessly integrate with existing infrastructure, its solutions expand capabilities at the network edge, ensuring data uptime onsite services. With the ability to provide 100 kW+ per cabinet, rapid 90-day deployment, and continuous 24/7 data services, Duos Edge AI aims to position its edge data centers within 12 miles of end users or devices, significantly closer than traditional data centers. This approach enables timely processing of massive amounts of data for applications requiring real-time response and supporting current and future technologies without large capital investments. For more information, visit www.duosedge.ai.

    About Duos Technologies Group, Inc.
    Duos Technologies Group, Inc. (Nasdaq: DUOT), based in Jacksonville, Florida, through its wholly owned subsidiaries, Duos Technologies, Inc., Duos Edge AI, Inc., and Duos Energy Corporation, designs, develops, deploys and operates intelligent technology solutions for Machine Vision and Artificial Intelligence (“AI”) applications including real-time analysis of fast-moving vehicles, Edge Data Centers and power consulting. For more information, visit www.duostech.com, www.duosedge.ai and www.duosenergycorp.com.

    About FiberLight
    FiberLight builds and operates mission-critical high bandwidth networks to ignite our client’s digital transformation. With more than 19,000 route miles of fiber networks and 300,000 pre-qualified near-net buildings, our service portfolio includes high-capacity Ethernet and Wavelength Services, Cloud Connect, Dedicated Internet Access, Dark Fiber, and Wireless Backhaul serving domestic and international telecom companies, wireless, wireline, cable, and cloud providers, as well as key players across enterprise, government, and education. For more information, visit https://www.fiberlight.com.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6411ccbd-6b47-4c24-8034-b1d965f06e10

    This press release was published by a CLEAR® Verified individual.

    The MIL Network –

  • MIL-OSI: Sunrun Earns Best Company’s 2025 Platinum Solar Award and Preferred Partner Award

    Source: GlobeNewswire (MIL-OSI)

    SAN FRANCISCO, March 05, 2025 (GLOBE NEWSWIRE) — Sunrun (Nasdaq: RUN), America’s leading provider of clean energy as a subscription service, has been awarded the 2025 Platinum Solar Award and the exclusive Preferred Partner Award by BestCompany.com, a leading reviews platform that empowers consumers to make confident purchase decisions. These awards recognize Sunrun’s commitment to customer satisfaction, innovation, and industry leadership.

    “Customer obsession is at the core of everything we do at Sunrun. We’ve made significant investments in service and delivering an industry-best customer experience, and we’re honored to be recognized by Best Company for the progress we’ve made,” said Chance Allred, Sunrun’s Chief Experience Officer. “We are laser focused on putting our customers at the center of every decision we make and see every interaction as an opportunity to build trust and long-term value. This customer-first approach is reflected in our strong Net Promoter Scores and the positive experiences customers continue to share with others on review platforms.”

    “We speak with their customers every day. We know what their advocates say about them and we see how excited their customers are to refer them to friends,” said Landon Taylor, CEO of Snoball, Best Company’s review and referral platform. “Sunrun is an excellent choice for the Platinum Solar and Preferred Partner Awards.”

    As part of its selection process, Best Company said that Sunrun stood out because of its proven expertise, innovative partnerships, cutting-edge technology, flexible financing options, commitment to sustainability, comprehensive customer support, and stability.

    “With how much change has occurred in the industry over the last few years, including large companies going out of business and their customers feeling the brunt of that, Sunrun’s financial stability and strength of partnerships was a key contributor to this award,” Best Company said. “They are built for the long haul.”

    The Best Company recognition comes on the heels of Sunrun being named a Sustainability Innovator in Good Housekeeping’s 2025 Home Renovation Awards. Additionally, Sunrun was awarded the 2024 Excellence in Customer Service Award by the Business Intelligence Group and earned a 2024 Silver Stevie® Award for Achievement in Customer Experience.

    These accolades highlight Sunrun’s commitment to providing families across America with clean, affordable, and reliable solar energy. With the industry’s most comprehensive maintenance, monitoring, and repair program—including 24/7 system monitoring, free maintenance and repairs, and a solar performance guarantee—Sunrun continues to extend its brand differentiation by providing customers with a seamless experience and industry-best products and services. In 2024, Sunrun’s Net Promoter Score at the time of installation reached 76 points, a level achieved only by the most trusted and admired consumer brands.

    About Sunrun
    Sunrun Inc. (Nasdaq: RUN) revolutionized the solar industry in 2007 by removing financial barriers and democratizing access to locally-generated, renewable energy. Today, Sunrun is the nation’s leading provider of clean energy as a subscription service, offering residential solar and storage with no upfront costs. Sunrun’s innovative products and solutions can connect homes to the cleanest energy on earth, providing them with energy security, predictability, and peace of mind. Sunrun also manages energy services that benefit communities, utilities, and the electric grid while enhancing customer value. Discover more at www.sunrun.com.

    Media Contact
    Wyatt Semanek
    Director, Corporate Communications
    press@sunrun.com

    Investor & Analyst Contact
    Patrick Jobin
    SVP, Deputy CFO & Investor Relations Officer
    investors@sunrun.com

    The MIL Network –

  • MIL-OSI: red violet Announces Appointment of Greg Strakosch to Board of Directors

    Source: GlobeNewswire (MIL-OSI)

    BOCA RATON, Fla., March 05, 2025 (GLOBE NEWSWIRE) — Red Violet, Inc. (NASDAQ: RDVT), a leading analytics and information solutions provider, today announced the appointment of Greg Strakosch to the red violet Board of Directors, effective March 4, 2025.

    “We are thrilled to welcome Greg to our Board of Directors,” said Derek Dubner, Chairman and CEO of red violet. “His proven track record in scaling technology businesses and deep understanding of market dynamics will be invaluable as we continue to drive our growth and expand our market presence.”

    Mr. Strakosch’s extensive knowledge and expertise encompasses capital markets, public company management, mergers and acquisitions, operations, and governance. As the founder and CEO of two successful startups, including TechTarget (NASDAQ: TTGT), Mr. Strakosch has demonstrated exceptional leadership in guiding companies from inception to substantial growth. Prior to founding TechTarget, Mr. Strakosch was the President of the Technology Division of UCG. He joined UCG when the company acquired Reliability Ratings, a successful IT publishing and research company, which he founded. Before founding Reliability Ratings, Mr. Strakosch worked at EMC Corporation, which he joined when the company had $18 million in revenues. He was there for EMC’s IPO and held various executive roles including opening the first office in Silicon Valley and successfully launching the company’s first mainframe product. Mr. Strakosch graduated from Boston College, where he serves on the Board of Regents. Mr. Strakosch serves on the Board of Governors at Fairfield Prep, is on the Board of Trustees at Cristo Rey Boston High School, serves on the Board of Trustees at Melmark, a human services provider for individuals with developmental disabilities, and serves on the Board of Habitat for Humanity of Collier County.

    “I am honored to join red violet’s Board of Directors,” said Greg Strakosch. “The company’s impressive growth trajectory and dedication to leveraging its differentiated technology and solutions for its business expansion resonate deeply with my professional experiences. I am eager to collaborate with the team to further accelerate red violet’s market presence and success.”

    This appointment reflects red violet’s dedication to strengthening its leadership team with seasoned professionals who can drive strategic initiatives and enhance shareholder value.

    About red violet®

    At red violet, we build proprietary technologies and apply analytical capabilities to deliver identity intelligence. Our technology powers critical solutions, which empower organizations to operate with confidence. Our solutions enable the real-time identification and location of people, businesses, assets and their interrelationships. These solutions are used for purposes including risk mitigation, due diligence, fraud detection and prevention, regulatory compliance, and customer acquisition. Our intelligent platform, CORE™, is purpose-built for the enterprise, yet flexible enough for organizations of all sizes, bringing clarity to massive datasets by transforming data into intelligence. Our solutions are used today to enable frictionless commerce, to ensure safety, and to reduce fraud and the concomitant expense borne by society. For more information, please visit www.redviolet.com.

    FORWARD-LOOKING STATEMENTS

    This press release contains “forward-looking statements,” as that term is defined under the Private Securities Litigation Reform Act of 1995 (PSLRA), which statements may be identified by words such as “expects,” “plans,” “projects,” “will,” “may,” “anticipate,” “believes,” “should,” “intends,” “estimates,” and other words of similar meaning. Such forward looking statements are subject to risks and uncertainties that are often difficult to predict, are beyond our control and which may cause results to differ materially from expectations, including whether Greg Strakosch’s proven track record in scaling technology businesses and deep understanding of market dynamics will be invaluable as the Company continues to drive growth and expand its market presence. Readers are cautioned not to place undue reliance on these forward-looking statements, which are based on our expectations as of the date of this press release and speak only as of the date of this press release and are advised to consider the factors listed above together with the additional factors under the heading “Forward-Looking Statements” and “Risk Factors” in red violet’s Form 10-K for the year ended December 31, 2024 filed on February 27, 2025, as may be supplemented or amended by the Company’s other SEC filings. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.

    Company Contact:
    Camilo Ramirez
    Red Violet, Inc.
    561-757-4500
    ir@redviolet.com

    Investor Relations Contacts:
    Steven Hooser
    Three Part Advisors
    214-872-2710
    ir@redviolet.com

    The MIL Network –

  • MIL-OSI: TransUnion Identifies Increased Risk for Tax Fraud Linked to 970 Data Breaches in 2024

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, March 05, 2025 (GLOBE NEWSWIRE) — Tax refund theft is an annual concern and 2025 brings an elevated risk, according to a TransUnion (NYSE: TRU) analysis. Researchers found that in 2024 there were 970 data breaches in which fraudsters obtained the kinds of personally identifiable information (PII) required for various forms of tax fraud.

    In total, 640 million consumer records were exposed in 2024, containing critical pieces of information like Social Security numbers, address histories, and full names. A recent TransUnion report found full Social Security numbers were exposed in 71% of data breaches in the first half of 2024 alone—up from 57% in all of 2023. The exposed information can help fraudsters file false tax returns in a victim’s name, or access someone’s bank account to intercept their tax return.

    “What we found is that the volume and severity of recent data breaches have created tremendous vulnerability,” said Greg Schlichter, director of research and consulting for TransUnion’s public sector business. “Government agencies, like the IRS, as well as financial institutions and consumers need to be alert to this threat.”

    How government agencies can defeat fraudsters
    Many fraudsters will target call centers to either test the veracity of PII acquired from criminal marketplaces, or to directly impersonate a victim. Call center leaders must look out for suspicious calls—such as those that show signs of spoofing, or those placed through a Voice-over-IP service—even for routine requests like address changes or tax return tracking.

    In addition, fraudsters will access online government portals with stolen PII to validate stolen identity information, file false returns or intercept return status updates. Agencies should employ identity verification and document authentication technologies to flag impersonators who may also use AI to generate photo-realistic credentials.

    “There are a number of fraud prevention tools that agencies can leverage,” said Naureen Ali, U.S. Head of Fraud at TransUnion. “Using call authentication and identity resolution capabilities will make it easier to thwart fraud attempts that use stolen and synthetic identities.”

    The researchers note branded calling tools are likely needed for agencies looking to proactively notify taxpayers whose returns are at risk, given the volume of government impersonation fraud. A recent TransUnion survey found that 62% of consumers won’t answer a call from a number or caller ID name they don’t recognize, even if they’re expecting a call from a government agency.

    The role for banks and consumers
    While the government should look out for fraudsters attempting to falsely file and claim tax returns, banks and other financial institutions should check to confirm that the payee matches the account owner on record. This can help ensure that incoming funds are intended for that customer.

    Even prior to this point, however, banks should already be scrutinizing their deposit account openings to check for potentially fraudulent account creations that are used for criminal activities like drop accounts and mule accounts. Similarly, financial institutions should remain diligent to try to protect their existing deposit accounts from account takeovers.

    Consumers can also protect themselves by monitoring their bank account activity and credit history. When they know their tax refund is due, they can check regularly to ensure it remains in their account. They can also use credit monitoring services to know if fraudsters have created new accounts in their name.

    Learn more about TransUnion’s TruValidate™ Identity Verification Solutions and TruContact™ Trusted Call Solutions.

    Read more about the implications of data breaches on tax fraud here.

    About TransUnion (NYSE: TRU)
    TransUnion is a global information and insights company with over 13,000 associates operating in more than 30 countries. We make trust possible by ensuring each person is reliably represented in the marketplace. We do this with a Tru™ picture of each person: an actionable view of consumers, stewarded with care. Through our acquisitions and technology investments we have developed innovative solutions that extend beyond our strong foundation in core credit into areas such as marketing, fraud, risk and advanced analytics. As a result, consumers and businesses can transact with confidence and achieve great things. We call this Information for Good® — and it leads to economic opportunity, great experiences and personal empowerment for millions of people around the world. http://www.transunion.com/business

    Contact Dave Blumberg
    TransUnion
    E-mail  david.blumberg@transunion.com
    Telephone  312-972-6646

    The MIL Network –

  • MIL-OSI: Standard Lithium to Attend 37th Annual Roth Conference

    Source: GlobeNewswire (MIL-OSI)

    VANCOUVER, British Columbia, March 05, 2025 (GLOBE NEWSWIRE) — Standard Lithium Ltd. (“Standard Lithium”) (TSXV:SLI) (NYSE:A:SLI), a leading near-commercial lithium developer today announced senior leadership will participate in the upcoming 37th Annual Roth Conference.

    Event   37th Annual Roth Conference
    Date March 16 – 18, 2025
    Location The Laguna Cliffs Marriott Resort & Spa, Dana Point, CA
       

    Salah Gamoudi, Chief Financial Officer and Chris Lang, Director of Finance will be hosting one-on-one meetings during the conference. Interested investors should contact their Roth representative or Standard Lithium Investor Relations at investors@standardlithium.com.

    About Standard Lithium Ltd.

    Standard Lithium is a leading near-commercial lithium development company focused on the sustainable development of a portfolio of large, high-grade lithium-brine properties in the United States. The Company prioritizes projects characterized by the highest quality resources, robust infrastructure, skilled labor, and streamlined permitting. Standard Lithium aims to achieve sustainable, commercial-scale lithium production via the application of a scalable and fully integrated Direct Lithium Extraction (“DLE”) and purification process. The Company’s flagship projects are located in the Smackover Formation, a world-class lithium brine asset, focused in Arkansas and Texas. In partnership with global energy leader Equinor, Standard Lithium is advancing the South West Arkansas project, a greenfield project located in southern Arkansas, and actively exploring promising lithium brine prospects in East Texas. Additionally, the Company is advancing the Phase 1A project in partnership with LANXESS Corporation, a brownfield development project located in southern Arkansas. Standard Lithium also holds an interest in certain mineral leases in the Mojave Desert in San Bernardino County, California.

    Standard Lithium trades on both the TSX Venture Exchange and the NYSE American under the symbol “SLI”; and on the Frankfurt Stock Exchange under the symbol “S5L”. Please visit the Company’s website at www.standardlithium.com.

    Media Contact:

    Chris Lang
    Director of Finance
    Standard Lithium Ltd.
    +1 604 409 8154
    investors@standardlithium.com 

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and other similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to intended development timelines, future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals, the reliability of third party information, continued access to mineral properties or infrastructure, fluctuations in the market for lithium and its derivatives, changes in exploration costs and government regulation in Canada and the United States, and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.

    The MIL Network –

  • MIL-OSI: OPTIZMO Returns as Official Content Sponsor for LinkUnite V

    Source: GlobeNewswire (MIL-OSI)

    AUSTIN, Texas, March 05, 2025 (GLOBE NEWSWIRE) — OPTIZMO Technologies, the leading platform for email suppression list management, data security, and compliance solutions, proudly announces its return as the Official Content Sponsor for LinkUnite V. This year’s highly anticipated event will take place at the iconic Newbury Boston from June 11th–13th, bringing women leaders in digital marketing back to the city where the LinkUnite journey began.

    LinkUnite has become a transformative movement uniting women in leadership roles across the digital marketing industry. The annual invite-only event provides a space to cultivate connections, amplify voices, and celebrate innovation. LinkUnite V promises to deliver a unique blend of luxury, history, and inspiration, featuring panels, discussions, and networking opportunities as unforgettable as Boston itself.

    As the Official Content Sponsor, OPTIZMO will return to create more collaborative and impactful video content to spotlight the LinkUnite community. This includes interviews with attendees, sponsors, and panelists, showcasing the event’s energy, insights, and the connections it fosters. OPTIZMO’s COO, Tom Wozniak, and Creative Director, Jonathan Salas, will once again lead the video initiative, capturing and celebrating the journey of women leaders in the digital marketing industry.

    “Being part of LinkUnite from its inception has been a privilege, and we’re honored and excited to return as the Official Content Sponsor for LinkUnite V,” said Khris Thayer, CEO and Co-Founder of OPTIZMO. “This incredible initiative grows stronger every year, and we’re proud to be a part of that growth for years to come.”

    “I am thrilled that we’re bringing our fifth LinkUnite to the beautiful city of Boston! This isn’t just another gathering; it’s a heartwarming reunion in a city that echoes the spirit and warmth of our own incredible circle. I am so excited to create more unforgettable memories with all the amazing ladies of LinkUnite.” — Amanda Farris, CEO & Co-founder of LinkUnite.

    “There’s no place like home! Bringing LinkUnite V to Boston means blending the best of my roots with the future we’re building together. This city has always been about trailblazers and changemakers, just like the women of LinkUnite. Let’s make history in a place that knows how to do just that!” — Sara Malo, President and COO of LinkUnite.

    Hosting the event in Boston is especially meaningful, as the city is the birthplace of the concept of LinkUnite, first coming to life in a few napkin sketches. With The Newbury Boston providing the backdrop and a program designed to inspire, LinkUnite V is set to be another unforgettable experience.

    About OPTIZMO

    OPTIZMO Technologies is the recognized thought leader in the email and online marketing space for email suppression list management, email campaign management, data management, and risk mitigation services relative to email compliance. With an expert staff in pursuit of unrivaled efficiency, innovative technology, and an insatiable desire to problem-solve, clients find a customer-centric business model that not only enhances the way OPTIZMO clients do business but drives the company forward. The company is headquartered in Austin, TX, and has offices and team members in Charleston, Denver, and Brisbane, Australia.

    Media Contact:
    Antonio Jones
    Marketing Manager
    antonio@optizmo.com

    Tom Wozniak
    Chief Operating Officer
    tom@optizmo.com

    The MIL Network –

  • MIL-OSI: Bread Financial Announces Approval of $150 Million Share Repurchase Program

    Source: GlobeNewswire (MIL-OSI)

    COLUMBUS, Ohio, March 05, 2025 (GLOBE NEWSWIRE) — Bread Financial® Holdings, Inc. (NYSE: BFH) (“Bread Financial” or the “Company”) today announced that its Board of Directors (the “Board”) has authorized a new plan to repurchase up to $150 million of shares of its common stock. There is no expiration date for the repurchase plan.

    “Aligned with our capital priorities, we have prudently focused on strengthening our balance sheet over the past five years, including building capital and reducing debt. The issuance of Tier 2 capital and this share repurchase authorization will further strengthen our total capital ratios, while providing capital flexibility for future growth and further optimization of our capital position over time,” said Ralph Andretta, president and chief executive officer of Bread Financial.

    Any decision to repurchase shares will be subject to market conditions and other factors, including legal and regulatory restrictions and required approvals, up to the aggregate amount authorized by the Board. The repurchase plan does not obligate the Company to acquire any specific number of shares and may be suspended or terminated at any time.

    About Bread Financial®
    Bread Financial® (NYSE: BFH) is a tech-forward financial services company that provides simple, personalized payment, lending and saving solutions to millions of U.S. consumers. The Company’s payment solutions, including Bread Financial general purpose credit cards and savings products, empower its customers and their passions for a better life. Additionally, the Company delivers growth for some of the most recognized brands in travel & entertainment, health & beauty, jewelry and specialty apparel through their private label and co-brand credit cards and pay-over-time products providing choice and value to their shared customers.

    Forward-Looking Statements
    This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including, among other things, statements regarding the Company’s intended share repurchases and the expected impact on share count dilution. The Company believes that its expectations are based on reasonable assumptions. Forward-looking statements, however, are based only on currently available information and the Company’s current beliefs, expectations and assumptions, and are subject to a number of risks and uncertainties that are difficult to predict and, in many cases, beyond the Company’s control, including risk and uncertainties described in greater detail under the headings “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s Annual Report on Form 10-K for the most recently ended fiscal year, which may be updated in Item 1A of, or elsewhere in, the Company’s Quarterly Reports on Form 10-Q filed for periods subsequent to such Form 10-K. The Company’s forward-looking statements speak only as of the date made, and it undertakes no obligation, other than as required by applicable law, to update or revise any forward-looking statements, whether as a result of new information, subsequent events, anticipated or unanticipated circumstances or otherwise.

    Contacts

    Brian Vereb — Investor Relations
    Brian.Vereb@breadfinancial.com 

    Susan Haugen — Investor Relations
    Susan.Haugen@breadfinancial.com 

    Rachel Stultz — Media
    Rachel.Stultz@breadfinancial.com  

    The MIL Network –