Category: Business

MIL-OSI: Descartes Announces Fiscal 2026 First Quarter Financial Results

Source: GlobeNewswire (MIL-OSI)

Record Services Revenues

WATERLOO, Ontario and ATLANTA, June 04, 2025 (GLOBE NEWSWIRE) — The Descartes Systems Group Inc. (TSX:DSG) (Nasdaq:DSGX) announced its financial results for its fiscal 2026 first quarter (Q1FY26). All financial results referenced are in United States (US) currency and, unless otherwise indicated, are determined in accordance with US Generally Accepted Accounting Principles (GAAP).

“Our first quarter of fiscal 2026 showed strong annual growth, consistent with our communicated plans,” said Edward J. Ryan, Descartes’ CEO. “This is a challenging and uncertain economic and trade environment for shippers, carriers and logistics services providers. They face challenges on how, when, or if, to react to changes in global trade relationships, tariffs, sanctions and economic forecasts. We continue to see strong interest in our domain expertise and our solutions to help companies navigate the complex trade landscape. We remain committed to growing our business with prudent investments and cost discipline to build the premier network and technology for logistics-intensive businesses.”

Q1FY26 Financial Results
As described in more detail below, key financial highlights for Descartes’ Q1FY26 included:

Revenues of $168.7 million, up 12% from $151.3 million in the first quarter of fiscal 2025 (Q1FY25) and up 1% from $167.5 million in the previous quarter (Q4FY25);
Revenues were comprised of services revenues of $156.6 million (93% of total revenues), professional services and other revenues of $11.8 million (7% of total revenues) and license revenues of $0.3 million (less than 1% of total revenues). Services revenues were up 14% from $137.8 million in Q1FY25 and consistent with $156.5 million in Q4FY25;
Cash provided by operating activities of $53.6 million, down from $63.7 million in Q1FY25 and down from $60.7 million in Q4FY25;
Income from operations of $46.2 million, up 9% from $42.4 million in Q1FY25 and down from $47.1 million in Q4FY25;
Net income of $36.2 million, up 4% from $34.7 million in Q1FY25 and down from $37.4 million in Q4FY25. Net income as a percentage of revenues was 21%, compared to 23% in Q1FY25 and 22% in Q4FY25;
Earnings per share on a diluted basis of $0.41, up 2% from $0.40 in Q1FY25 and down from $0.43 in Q4FY25; and
Adjusted EBITDA of $75.1 million, up 12% from $67.0 million in Q1FY25 and consistent with $75.0 million in Q4FY25. Adjusted EBITDA as a percentage of revenues was 45%, compared to 44% in Q1FY25 and 45% in Q4FY25.

Adjusted EBITDA and Adjusted EBITDA as a percentage of revenues are non-GAAP financial measures provided as a complement to financial results presented in accordance with GAAP. We define Adjusted EBITDA as earnings before interest, taxes, depreciation, amortization, stock-based compensation (for which we include related fees and taxes) and other charges (for which we include restructuring charges, acquisition-related expenses, and contingent consideration incurred due to better-than-expected performance from acquisitions). These items are considered by management to be outside Descartes’ ongoing operational results. We define Adjusted EBITDA as a percentage of revenues as the quotient, expressed as a percentage, from dividing Adjusted EBITDA for a period by revenues for the corresponding period. A reconciliation of Adjusted EBITDA and Adjusted EBITDA as a percentage of revenues to net income determined in accordance with GAAP is provided later in this release.

The following table summarizes Descartes’ results in the categories specified below over the past 5 fiscal quarters (unaudited; dollar amounts, other than per share amounts, in millions):

	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25
Revenues	168.7	167.5	168.8	163.4	151.3
Services revenues	156.6	156.5	149.7	146.2	137.8
Gross margin	76%	76%	74%	75%	77%
Cash provided by operating activities	53.6	60.7	60.1	34.7	63.7
Income from operations	46.2	47.1	45.8	45.9	42.4
Net income	36.2	37.4	36.6	34.7	34.7
Net income as a % of revenues	21%	22%	22%	21%	23%
Earnings per diluted share	0.41	0.43	0.42	0.40	0.40
Adjusted EBITDA	75.1	75.0	72.1	70.6	67.0
Adjusted EBITDA as a % of revenues	45%	45%	43%	43%	44%

Cash Position
At April 30, 2025, Descartes had $176.4 million in cash. Cash decreased by $59.7 million in Q1FY26. The table set forth below provides a summary of cash flows for Q1FY26 in millions of dollars:

	Q1FY26
Cash provided by operating activities	53.6
Additions to property and equipment	(1.9)
Acquisitions of subsidiaries, net of cash acquired	(112.3)
Issuances of common shares, net of issuance costs	3.6
Payment of withholding taxes on net share settlements	(6.5)
Effect of foreign exchange rate on cash	3.8
Net change in cash	(59.7)
Cash, beginning of period	236.1
Cash, end of period	176.4

Acquisition of 3GTMS
On March 24, 2025, Descartes acquired all of the shares of 3GTMS, a leading provider of transportation management solutions. The purchase price for the acquisition was approximately $112.7 million, net of cash acquired, which was funded from cash on hand.

Cost Reduction Initiatives
Considering the economic and global trade uncertainty many Descartes customers are facing, Descartes has undertaken cost reduction initiatives designed to reduce its cost base. The plan is designed to reduce Descartes’ global workforce by approximately 7% and eliminate various other operating expenses. As a result, Descartes expects to incur restructuring charges of approximately $4 million in the second quarter of fiscal 2026 (Q2FY26), which will also impact cash generated from operations in Q2FY26. Once completed, Descartes anticipates annualized cost savings of approximately $15 million.

Management Update
Descartes is pleased to announce the appointment of William Green as Executive Vice President, Global Sales. Mr. Green has served as Descartes’ Senior Vice President for North American Sales since August 2020. Mr. Green has previously held senior commercial roles at Salesforce, PROLIFIQ and CDC Software (now Aptean). “We’re excited for Bill to extend his leadership of our growth successes in North America to our global commercial operations,” said Mr. Ryan.

Andrew Roszko, Descartes’ Chief Commercial Officer, will depart the company in Q2FY26 to pursue another opportunity. Mr. Roszko was appointed EVP Global Sales in February 2019 and appointed Chief Commercial Officer in June 2022. “Andrew has been a valuable contributor to Descartes’ commercial development. We wish him well in his future endeavors,” said Mr. Ryan.

Conference Call
Members of Descartes’ executive management team will host a conference call to discuss the company’s financial results at 5:30 p.m. ET on Wednesday, June 4. Designated numbers are +1 289 514 5100 for North America and +1 800 717 1738 for international, using conference ID 26605.

The company will simultaneously conduct an audio webcast on the Descartes website at www.descartes.com/descartes/investor-relations. Phone conference dial-in or webcast login is required approximately 10 minutes beforehand.

Replays of the conference call will be available until June 11, 2025, by dialing +1 289 819 1325 or Toll-Free for North America using +1 888 660 6264 with Playback Passcode: 26605#. An archived replay of the webcast will be available at www.descartes.com/descartes/investor-relations.

About Descartes

Descartes (Nasdaq:DSGX) (TSX:DSG) is the global leader in providing on-demand, software-as-a-service solutions focused on improving the productivity, security and sustainability of logistics-intensive businesses. Customers use our modular, software-as-a-service solutions to route, track and help improve the safety, performance and compliance of delivery resources; plan, allocate and execute shipments; rate, audit and pay transportation invoices; access global trade data; file customs and security documents for imports and exports; and complete numerous other logistics processes by participating in the world’s largest, collaborative multimodal logistics community. Our headquarters are in Waterloo, Ontario, Canada and we have offices and partners around the world. Learn more at www.descartes.com, and connect with us on LinkedIn and X (Twitter).

Descartes Investor Contact
Laurie McCauley
(519) 746-2969
investor@descartes.com

Cautionary Statement Regarding Forward-Looking Statements This release may contain forward-looking information within the meaning of applicable securities laws (“forward-looking statements”) that relates to Descartes’ expectations concerning future revenues and earnings, and our projections for any future reductions in expenses or growth in margins and generation of cash; our assessment of the potential impact of geopolitical events, such as the ongoing conflict between Russia and Ukraine (the “Russia-Ukraine Conflict”), and between Israel and Hamas (“Israel-Hamas Conflict”), or other potentially catastrophic events, on our business, results of operations and financial condition; our assessment of the potential impact of tariffs, sanctions and other actions by individual countries on global trade and our business; continued growth and acquisitions including our assessment of any increased opportunity for our products and services as a result of trends in the logistics and supply chain industries; rate of profitable growth and Adjusted EBITDA margin operating range; demand for Descartes’ solutions; growth of Descartes’ Global Logistics Network (“GLN”); customer buying patterns; customer expectations of Descartes; development of the GLN and the benefits thereof to customers; and other matters. These forward-looking statements are based on certain assumptions including the following: global shipment volumes continuing at levels generally consistent with those experienced historically; the Russia-Ukraine Conflict and Israel-Hamas Conflict not having a material negative impact on shipment volumes or on the demand for the products and services of Descartes by its customers and the ability of those customers to continue to pay for those products and services; countries continuing to implement and enforce existing and additional customs and security regulations relating to the provision of electronic information for imports and exports; countries continuing to implement and enforce existing and additional trade restrictions and sanctioned party lists with respect to doing business with certain countries, organizations, entities and individuals; Descartes’ continued operation of a secure and reliable business network; the stability of general economic and market conditions, currency exchange rates, and interest rates; equity and debt markets continuing to provide Descartes with access to capital; Descartes’ continued ability to identify and source attractive and executable business combination opportunities; Descartes’ ability to develop solutions that keep pace with the continuing changes in technology, and our continued compliance with third party intellectual property rights. These assumptions may prove to be inaccurate. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Descartes, or developments in Descartes’ business or industry, to differ materially from the anticipated results, performance or achievements or developments expressed or implied by such forward-looking statements. Such factors include, but are not limited to, Descartes’ ability to successfully identify and execute on acquisitions and to integrate acquired businesses and assets, and to predict expenses associated with and revenues from acquisitions; the impact of network failures, information security breaches or other cyber-security threats; disruptions in the movement of freight and a decline in shipment volumes including as a result of the impact of current and future trade barriers, including tariffs, further protectionist measures and reactive countermeasure or contagious illness outbreaks; a deterioration of general economic conditions or instability in the financial markets accompanied by a decrease in spending by our customers; the ability to attract and retain key personnel and the ability to manage the departure of key personnel and the transition of our executive management team; changes in trade or transportation regulations that currently require customers to use services such as those offered by Descartes; changes in customer behaviour and expectations; Descartes’ ability to successfully design and develop enhancements to our products and solutions; departures of key customers; the impact of foreign currency exchange rates; Descartes’ ability to retain or obtain sufficient capital in addition to its debt facility to execute on its business strategy, including its acquisition strategy; disruptions in the movement of freight; the potential for future goodwill or intangible asset impairment as a result of other-than-temporary decreases in Descartes’ market capitalization; and other factors and assumptions discussed in the section entitled, “Certain Factors That May Affect Future Results” in documents filed with the Securities and Exchange Commission, the Ontario Securities Commission and other securities commissions across Canada, including Descartes’ most recently filed Management’s Discussion and Analysis. If any such risks actually occur, they could materially adversely affect our business, financial condition or results of operations. In that case, the trading price of our common shares could decline, perhaps materially. Readers are cautioned not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Forward-looking statements are provided for the purpose of providing information about management’s current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. We do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.

Reconciliation of Non-GAAP Financial Measures – Adjusted EBITDA and Adjusted EBITDA as a percentage of revenues

We prepare and release quarterly unaudited and annual audited financial statements prepared in accordance with GAAP. We also disclose and discuss certain non-GAAP financial information, used to evaluate our performance, in this and other earnings releases and investor conference calls as a complement to results provided in accordance with GAAP. We believe that current shareholders and potential investors in our company use non-GAAP financial measures, such as Adjusted EBITDA and Adjusted EBITDA as a percentage of revenues, in making investment decisions about our company and measuring our operational results.

The term “Adjusted EBITDA” refers to a financial measure that we define as earnings before certain charges that management considers to be non-operating expenses and which consist of interest, taxes, depreciation, amortization, stock-based compensation (for which we include related fees and taxes) and other charges (for which we include restructuring charges, acquisition-related expenses, and contingent consideration incurred due to better-than-expected performance from acquisitions). Adjusted EBITDA as a percentage of revenues divides Adjusted EBITDA for a period by the revenues for the corresponding period and expresses the quotient as a percentage.

Management considers these non-operating expenses to be outside the scope of Descartes’ ongoing operations and the related expenses are not used by management to measure operations. Accordingly, these expenses are excluded from Adjusted EBITDA, which we reference to both measure our operations and as a basis of comparison of our operations from period-to-period. Management believes that investors and financial analysts measure our business on the same basis, and we are providing the Adjusted EBITDA financial metric to assist in this evaluation and to provide a higher level of transparency into how we measure our own business. However, Adjusted EBITDA and Adjusted EBITDA as a percentage of revenues are non-GAAP financial measures and may not be comparable to similarly titled measures reported by other companies. Adjusted EBITDA and Adjusted EBITDA as a percentage of revenues should not be construed as a substitute for net income determined in accordance with GAAP or other non-GAAP measures that may be used by other companies, such as EBITDA. The use of Adjusted EBITDA and Adjusted EBITDA as a percentage of revenues does have limitations. In particular, we have completed six acquisitions since the beginning of fiscal 2025 and may complete additional acquisitions in the future that will result in acquisition-related expenses and restructuring charges. As these acquisition-related expenses and restructuring charges may continue as we pursue our consolidation strategy, some investors may consider these charges and expenses as a recurring part of operations rather than expenses that are not part of operations.

The table below reconciles Adjusted EBITDA and Adjusted EBITDA as a percentage of revenues to net income reported in our unaudited Consolidated Statements of Operations for Q1FY26, Q4FY25, Q3FY25, Q2FY25, and Q1FY25, which we believe is the most directly comparable GAAP measure.

	Q1FY26	Q4FY25	Q3FY25	Q2FY25	Q1FY25
Net income, as reported on Consolidated Statements of Operations	36.2	37.4	36.6	34.7	34.7
Adjustments to reconcile to Adjusted EBITDA:
Interest expense	0.2	0.2	0.2	0.2	0.3
Investment income	(1.9)	(1.9)	(2.9)	(2.7)	(4.1)
Income tax expense	11.7	11.4	11.9	13.6	11.5
Depreciation expense	1.5	1.5	1.4	1.4	1.4
Amortization of intangible assets	19.1	19.4	17.5	17.4	15.0
Stock-based compensation and related taxes	4.9	5.4	5.6	5.8	4.3
Other charges	3.4	1.6	1.8	0.2	3.9
Adjusted EBITDA	75.1	75.0	72.1	70.6	67.0

Revenues	168.7	167.5	168.8	163.4	151.3
Net income as % of revenues	21%	22%	22%	21%	23%
Adjusted EBITDA as % of revenues	45%	45%	43%	43%	44%

The Descartes Systems Group Inc. Condensed Consolidated Balance Sheets (US dollars in thousands; US GAAP; Unaudited)

	April 30,	January 31,
	2025	2025
ASSETS
CURRENT ASSETS
Cash	176,411	236,138
Accounts receivable (net)
Trade	60,456	53,953
Other	15,646	16,931
Prepaid expenses and other	43,100	45,544
	295,613	352,566
OTHER LONG-TERM ASSETS	27,366	24,887
PROPERTY AND EQUIPMENT, NET	13,944	12,481
RIGHT-OF-USE ASSETS	7,721	7,623
DEFERRED INCOME TAXES	4,867	3,802
INTANGIBLE ASSETS, NET	368,122	321,270
GOODWILL	992,257	924,755
	1,709,890	1,647,384
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES
Accounts payable	23,154	20,650
Accrued liabilities	73,151	79,656
Lease obligations	3,402	3,178
Income taxes payable	9,535	9,313
Deferred revenue	109,608	104,230
	218,850	217,027
LEASE OBLIGATIONS	4,533	4,718
DEFERRED REVENUE	2,196	978
INCOME TAXES PAYABLE	6,540	5,531
DEFERRED INCOME TAXES	25,834	34,127
	257,953	262,381

SHAREHOLDERS’ EQUITY
Common shares – unlimited shares authorized; Shares issued and outstanding totaled 85,782,830 at April 30, 2025 (January 31, 2025 – 85,605,969)	574,816	568,339
Additional paid-in capital	498,092	503,133
Accumulated other comprehensive loss	(21,243)	(50,497)
Retained earnings	400,272	364,028
	1,451,937	1,385,003
	1,709,890	1,647,384

The Descartes Systems Group Inc. Consolidated Statements of Operations (US dollars in thousands, except per share and weighted average share amounts; US GAAP; Unaudited)

	Three Months Ended
	April 30,	April 30,
	2025	2024

REVENUES	168,739	151,348
COST OF REVENUES (exclusive of amortization presented separately below)	39,747	35,413
GROSS MARGIN	128,992	115,935
EXPENSES
Sales and marketing	18,850	17,471
Research and development	25,069	22,191
General and administrative	16,312	14,948
Other charges	3,449	3,918
Amortization of intangible assets	19,114	15,024
	82,794	73,552
INCOME FROM OPERATIONS	46,198	42,383
INTEREST EXPENSE	(236)	(273)
INVESTMENT INCOME	1,962	4,059
INCOME BEFORE INCOME TAXES	47,924	46,169
INCOME TAX EXPENSE (RECOVERY)
Current	12,251	12,318
Deferred	(571)	(816)
	11,680	11,502
NET INCOME	36,244	34,667
EARNINGS PER SHARE
Basic	0.42	0.41
Diluted	0.41	0.40
WEIGHTED AVERAGE SHARES OUTSTANDING (thousands)
Basic	85,677	85,274
Diluted	87,577	87,116

The Descartes Systems Group Inc. Condensed Consolidated Statements of Cash Flows (US dollars in thousands; US GAAP; Unaudited)

	Three Months Ended
	April 30,	April 30,
	2025	2024
OPERATING ACTIVITIES
Net income	36,244	34,667
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation	1,450	1,358
Amortization of intangible assets	19,114	15,024
Stock-based compensation expense	4,366	3,769
Other non-cash operating activities	(34)	96
Deferred tax recovery	(571)	(816)
Changes in operating assets and liabilities	(6,966)	9,643
Cash provided by operating activities	53,603	63,741
INVESTING ACTIVITIES
Additions to property and equipment	(1,862)	(1,764)
Acquisition of subsidiaries, net of cash acquired	(112,327)	(139,973)
Cash used in investing activities	(114,189)	(141,737)
FINANCING ACTIVITIES
Payment of debt issuance costs	(38)	(38)
Issuance of common shares for cash, net of issuance costs	3,558	4,231
Payment of withholding taxes on net share settlements	(6,487)	(6,745)
Cash used in financing activities	(2,967)	(2,552)
Effect of foreign exchange rate changes on cash	3,826	(1,482)
Decrease in cash	(59,727)	(82,030)
Cash, beginning of period	236,138	320,952
Cash, end of period	176,411	238,922

The MIL Network –

June 5, 2025

MIL-OSI: AGF Reports May 2025 Assets Under Management and Fee-Earning Assets

Source: GlobeNewswire (MIL-OSI)

TORONTO, June 04, 2025 (GLOBE NEWSWIRE) — AGF Management Limited reported total assets under management (AUM) and fee-earning assets¹ of $53.5 billion as at May 31, 2025.

AUM ($ billions)	May 31, 2025	April 30, 2025	% Change Month-Over-Month		May 31, 2024	% Change Year-Over-Year
Total Mutual Fund	$31.0	$29.3			$26.9
Exchange-traded funds + Separately managed accounts	$2.8	$2.8			$1.8
Segregated accounts and Sub-advisory	$6.4	$6.2			$6.4
AGF Private Wealth	$8.6	$8.3			$8.0
Subtotal (before AGF Capital Partners AUM and fee-earning assets¹)	$48.8	$46.6			$43.1
AGF Capital Partners	$2.6	$2.6			$2.6
Total AUM	$51.4	$49.2	4.5	%	$45.7	12.5	%
AGF Capital Partners fee-earning assets¹	$2.1	$2.1			$2.1
Total AUM and fee-earning assets¹	$53.5	$51.3	4.3	%	$47.8	11.9	%

Average Daily Mutual Fund AUM	$30.6	$28.6			$26.9

¹ Fee-earning assets represent assets in which AGF has carried interest ownership and earns recurring fees but does not have ownership interest in the managers.

Mutual Fund AUM by Category ($ billions)	May 31, 2025	April 30, 2025	May 31, 2024
Domestic Equity Funds	$4.5	$4.3	$4.2
U.S. and International Equity Funds	$19.5	$18.0	$15.9
Domestic Balanced Funds	$0.1	$0.1	$0.1
U.S. and International Balanced Funds	$1.4	$1.4	$1.5
Domestic Fixed Income Funds	$2.0	$2.0	$1.7
U.S. and International Fixed Income Funds	$3.2	$3.2	$3.2
Domestic Money Market	$0.3	$0.3	$0.3
Total Mutual Fund AUM	$31.0	$29.3	$26.9

AGF Capital Partners AUM and fee-earning assets ($ billions)	May 31, 2025	April 30, 2025	May 31, 2024
AGF Capital Partners AUM	$2.6	$2.6	$2.6
AGF Capital Partners fee-earning assets	$2.1	$2.1	$2.1
Total AGF Capital Partners AUM and fee-earning assets	$4.7	$4.7	$4.7

About AGF Management Limited

Founded in 1957, AGF Management Limited (AGF) is an independent and globally diverse asset management firm. Our companies deliver excellence in investing in the public and private markets through three business lines: AGF Investments, AGF Capital Partners and AGF Private Wealth.

AGF brings a disciplined approach, focused on incorporating sound, responsible and sustainable corporate practices. The firm’s collective investment expertise, driven by its fundamental, quantitative and private investing capabilities, extends globally to a wide range of clients, from financial advisors and their clients to high-net worth and institutional investors including pension plans, corporate plans, sovereign wealth funds, endowments and foundations.

Headquartered in Toronto, Canada, AGF has investment operations and client servicing teams on the ground in North America and Europe. With over $53 billion in total assets under management and fee-earning assets, AGF serves more than 815,000 investors. AGF trades on the Toronto Stock Exchange under the symbol AGF.B.

AGF Management Limited shareholders, analysts and media, please contact:

Nick Smerek
VP, Financial Planning & Analysis
416-865-4337, InvestorRelations@agf.com

The MIL Network –

June 5, 2025

MIL-OSI: AGF Management Limited to Release Second Quarter 2025 Financial Results on June 25, 2025

Source: GlobeNewswire (MIL-OSI)

TORONTO, June 04, 2025 (GLOBE NEWSWIRE) — AGF Management Limited (TSX: AGF.B) will release its financial results for Q2 2025 on Wednesday, June 25, 2025 at approximately 7:00 a.m. ET. AGF will hold a conference call and webcast to discuss these results at 11:00 a.m. ET.

The discussion will feature remarks by Kevin McCreadie, Chief Executive Officer and Chief Investment Officer, and Ken Tsang, Chief Financial Officer. Judy G. Goldring, President and Head of Global Distribution, and Ash Lawrence, Head of AGF Capital Partners, will also be available for the question-and-answer period with investment analysts following the presentation.

The live audio webcast with supporting materials will be available in the Investor Relations section of AGF’s website at www.agf.com or at https://edge.media-server.com/mmc/p/m4th2gij. Alternatively, the call can be accessed over the phone by registering here or in the Investor Relations section of AGF’s website at www.agf.com, to receive the dial-in numbers and unique PIN.

A complete archive of this discussion along with supporting materials will be available at the same webcast address within 24 hours of the end of the conference call.

About AGF Management Limited

Founded in 1957, AGF Management Limited (AGF) is an independent and globally diverse asset management firm. Our companies deliver excellence in investing in the public and private markets through three business lines: AGF Investments, AGF Capital Partners and AGF Private Wealth.

AGF brings a disciplined approach, focused on incorporating sound, responsible and sustainable corporate practices. The firm’s collective investment expertise, driven by its fundamental, quantitative and private investing capabilities, extends globally to a wide range of clients, from financial advisors and their clients to high-net worth and institutional investors including pension plans, corporate plans, sovereign wealth funds, endowments and foundations.

Headquartered in Toronto, Canada, AGF has investment operations and client servicing teams on the ground in North America and Europe. With over $53 billion in total assets under management and fee-earning assets, AGF serves more than 815,000 investors. AGF trades on the Toronto Stock Exchange under the symbol AGF.B.

AGF MANAGEMENT LIMITED SHAREHOLDERS, ANALYSTS AND MEDIA, PLEASE CONTACT:

Nick Smerek
VP, Financial Planning & Analysis
(416) 865-4337, InvestorRelations@agf.com

The MIL Network –

June 5, 2025
MIL-OSI: Monroe Capital Corporation Announces Second Quarter Distribution of $0.25 Per Share

Source: GlobeNewswire (MIL-OSI)

CHICAGO, June 04, 2025 (GLOBE NEWSWIRE) — Monroe Capital Corporation (the “Company”) (NASDAQ: MRCC) announced today that its Board of Directors has declared a distribution of $0.25 per share for the second quarter of 2025, payable on June 30, 2025 to stockholders of record as of June 16, 2025. In October 2012, the Company adopted a dividend reinvestment plan that provides for reinvestment of distributions on behalf of its stockholders, unless a stockholder elects to receive cash prior to the record date. When the Company declares a cash distribution, stockholders who have not opted out of the dividend reinvestment plan prior to the record date will have their distribution automatically reinvested in additional shares of the Company’s capital stock. The specific tax characteristics of the distribution will be reported to stockholders on Form 1099 after the end of the calendar year and in the Company’s periodic report filed with the Securities and Exchange Commission.

About Monroe Capital Corporation

Monroe Capital Corporation is a publicly-traded specialty finance company that principally invests in senior, unitranche and junior secured debt and, to a lesser extent, unsecured debt and equity investments in middle-market companies. The Company’s investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation. The Company’s investment activities are managed by its investment adviser, Monroe Capital BDC Advisors, LLC, which is an investment adviser registered under the Investment Advisers Act of 1940, as amended, and an affiliate of Monroe Capital LLC. To learn more about Monroe Capital Corporation, visit www.monroebdc.com.

About Monroe Capital LLC

Monroe Capital LLC (including its subsidiaries and affiliates, together “Monroe”) is a premier asset management firm specializing in private credit markets across various strategies, including direct lending, technology finance, venture debt, alternative credit solutions, structured credit, real estate and equity. Since 2004, the firm has been successfully providing capital solutions to clients in the U.S. and Canada. Monroe prides itself on being a value-added and user-friendly partner to business owners, management, and both private equity and independent sponsors. Monroe’s platform offers a wide variety of investment products for both institutional and high net worth investors with a focus on generating high quality “alpha” returns irrespective of business or economic cycles. The firm is headquartered in Chicago and has 11 locations throughout the United States, Asia and Australia.

Monroe has been recognized by both its peers and investors with various awards including Private Debt Investor as the 2024 Lower Mid-Market Lender of the Year, Americas and 2023 Lower Mid-Market Lender of the Decade; Inc.’s 2024 Founder-Friendly Investors List; Global M&A Network as the 2023 Lower Mid-Markets Lender of the Year, U.S.A.; DealCatalyst as the 2022 Best CLO Manager of the Year; Korean Economic Daily as the 2022 Best Performance in Private Debt – Mid Cap; Creditflux as the 2021 Best U.S. Direct Lending Fund; and Pension Bridge as the 2020 Private Credit Strategy of the Year. For more information and important disclaimers, please visit www.monroecap.com.

Forward-Looking Statements

This press release may contain certain forward-looking statements. Any such statements, other than statements of historical fact, are likely to be affected by other unknowable future events and conditions, including elements of the future that are or are not under the Company’s control, and that the Company may or may not have considered; accordingly, such statements cannot be guarantees or assurances of any aspect of future performance. Actual developments and results are highly likely to vary materially from these estimates and projections of the future. Such statements speak only as of the time when made, and the Company undertakes no obligation to update any such statement now or in the future.

SOURCE: Monroe Capital Corporation

The MIL Network –

June 5, 2025
MIL-OSI: RadarFirst’s 2025 Privacy Benchmarking Report Reveals Industry-Specific Risks and Response Gaps in Regulatory Preparedness
Source: GlobeNewswire (MIL-OSI)

PORTLAND, Ore., June 04, 2025 (GLOBE NEWSWIRE) — RadarFirst, the leader in Regulatory Risk Management technology announces the release of the 2025 Privacy Incident Management Benchmarking Report, revealing how healthcare, finance, retail, and public sector organizations are navigating rising breach complexity and regulatory pressure.

As global privacy laws tighten and timelines compress, the report emphasizes that regulatory resilience depends on operational precision. The findings indicate a widening performance gap between organizations that utilize structured, automated incident response workflows and those that still rely on manual or reactive methods.

“Privacy incidents are no longer rare or isolated—they’re operational events,” said Lauren Wallace, General Counsel and Chief Privacy Officer at RadarFirst.

“This year’s data shows that teams investing in automation and defensible risk assessment are achieving faster, more consistent, and more trusted outcomes.”

Key Industry Insights from the 2025 Report:

Healthcare
- 19.4% of external incidents in healthcare resulted in notifiable breaches—nearly double the rate of internal incidents.
- HIPAA’s 60-day window is creating pressure for accurate triage and documentation, especially when third-party vendors are involved.
Financial Services
- High volumes of electronic incidents and shorter breach notification windows are driving the urgency for automation.
- Radar Privacy users in finance achieved an 83.7% on-time notification rate, compared to manual processes that default to over-reporting.
Government & Public Sector
- Agencies are grappling with multi-jurisdictional compliance and limited internal resources.
- Smaller-scale but high-risk verbal and paper-based disclosures remain a significant compliance vulnerability.
Retail & Consumer Services
- Single-person, human-error incidents accounted for 81.7% of reported events across industries, heavily impacting customer-facing roles.
- Retail organizations are under increased pressure to ensure brand trust and avoid over-disclosure.
Cross-Industry Trends
- 91.3% of all incidents stemmed from non-malicious human error.
- Organizations leveraging Radar Privacy cut breach resolution time by 40%, from 24.3 to 14.6 days since 2018.
- Structured privacy teams using automated tools saved an average of 9.7 days between discovery and risk assessment.
Building upon the findings from the 2024 report, the latest data indicates a continued trend toward faster breach resolution among organizations utilizing RadarFirst’s solutions. In 2024, the median time to data breach resolution for RadarFirst customers was 21.5 days, down from previous years.

The full 2025 Privacy Incident Management Benchmarking Report is available now at https://www.radarfirst.com/resources/2025-privacy-incident-management-benchmarking-report

About RadarFirst

RadarFirst is the intelligent incident response platform that helps organizations simplify and automate breach decision-making. With patented workflows, real-time risk assessments, and industry-leading compliance intelligence, RadarFirst empowers organizations to reduce risk, improve defensibility, and protect trust.

Media Contact:

Alexis Kramer-Ainza
Marketing Manager
alexis.kramer@radarfirst.com
480-938-7358

The MIL Network –
June 5, 2025
MIL-OSI: Canoe EIT Income Fund Announces June 2025 Monthly Distribution

Source: GlobeNewswire (MIL-OSI)

CALGARY, Alberta, June 04, 2025 (GLOBE NEWSWIRE) — Canoe EIT Income Fund (the “Fund”) (TSX – EIT.UN) announces the June 2025 monthly distribution of $0.10 per unit. Unitholders of record on June 20, 2025, will receive distributions payable on July 15, 2025.

About Canoe EIT Income Fund
Canoe EIT Income Fund is one of Canada’s largest closed-end investment funds, designed to maximize monthly distributions and capital appreciation by investing in a broadly diversified portfolio of high quality securities. The Fund is listed on the TSX under the symbol EIT.UN, and is actively managed by Robert Taylor, Senior Vice President and Chief Investment Officer, Canoe Financial.

About Canoe Financial
Canoe Financial is one of Canada’s fastest growing independent mutual fund companies managing approximately $20.0 billion in assets across a diversified range of award-winning investment solutions. Founded in 2008, Canoe Financial is an employee-owned investment management firm focused on building financial wealth for Canadians. Canoe Financial has a significant presence across Canada, including offices in Calgary, Toronto and Montreal.

For further information, please contact:
Investor Relations
1–877–434–2796
www.canoefinancial.com
info@canoefinancial.com

Not for Distribution to U.S. Newswire Services or for Dissemination in the United States of America.

The Fund makes monthly distributions of an amount comprised in whole or in part of Return of Capital (ROC) of the net asset value per unit. A ROC reduces the amount of your original investment and may result in the return to you of the entire amount of your original investment. ROC that is not reinvested will reduce the net asset value of the fund, which could reduce the fund’s ability to generate future income. You should not draw any conclusions about the fund’s investment performance from the amount of this distribution.

Commissions, trailing commissions, management fees and expenses all may be associated with investment funds. Please read the information filed about the fund on www.sedar.com before investing. Investment funds are not guaranteed and past performance may not be repeated.

This communication is not to be construed as a public offering to sell, or a solicitation of an offer to buy securities. Such an offer can only be made by way of a prospectus or other applicable offering document and should be read carefully before making any investment. This release is for information purposes only. Investors should consult their Investment Advisor for details and risk factors regarding specific strategies and various investment products.

The MIL Network –

June 5, 2025
MIL-Evening Report: Taylor Swift now owns all the music she has ever made: a copyright expert breaks it down

Source: The Conversation (Au and NZ) – By Wellett Potter, Lecturer in Law, University of New England

On Friday, Taylor Swift announced she now owns all the music she has ever made. This reported US$360 million acquisition includes all the master recordings to her first six albums, music videos, concert films, album art, photos and unreleased material.

The purchase of this catalogue from private equity firm Shamrock Capital is a profoundly happy event for Swift. She has expressed how personal and difficult it was not to own these works.

In her announcement, Swift acknowledged that it was due to her fans purchasing her rerecorded music (known as “Taylor’s Version”) and the financial success of the record-breaking Eras Tour which enabled this purchase.

The story behind “Taylor’s Version” and why she didn’t own the catalogue to her original six albums is due to copyright, music industry practices and contractual terms. Let’s break it down.

What’s in a music catalogue?

When it comes to valuing a music catalogue, it largely comes down to two types of rights: master rights and publishing rights.

Master rights are rights pertaining to the ownership of the actual sound recordings – the final recorded version. These are called “masters” because they’re the original source from which all copies are made.

Under traditional music industry contracts, record labels usually hold ownership of masters and associated materials. This can be music videos, tour videos, unreleased works, photographs and album covers.

Through licensing, the label controls the use of this material and retains the majority of the royalties. In return, the label provides the artist with financial backing, recording resources and marketing.

Publishing rights, on the other hand, relate to the underlying composition – the music and lyrics. The rights to music publishing usually belong to the songwriter, regardless of who performs the song.

Publishing rights govern how a song can be used and who earns royalties from that use. For example, a song may be played on a streaming platform, covered in a live performance or licensed for a commercial or film.

Swift’s contracts

Swift was 15-years-old when she was signed to Scott Borchetta’s Big Machine record label.

The agreed contractual terms were typical of the music industry. In exchange for the financial support to make, record and promote her subsequent albums and tours, Big Machine held the rights to Swift’s master recordings and associated materials in her first six albums. Her relationship with the label lasted 13 years.

As a songwriter, Swift retained separate publishing rights to her songs (the music and lyrics) from her first six albums, which she licensed through Sony/ATV Music Publishing.

In 2018, Swift was reportedly offered to re-sign with Big Machine, in a deal which would involve her “earning” the rights to one original album for each new one she produced.

Swift did not renew her contract and moved to Republic Records (Universal Music Group), who allow her to own her masters. She also moved to Universal Music Publishing Group for her music publishing.

Subsequent sales

In June 2019, Big Machine’s catalogue was sold to Scooter Braun’s Ithaca Holdings, for a reported US$330 million, with US$140 million representing Swift’s catalogue.

Swift described this as her “worst case scenario”, as she had a tumultuous history of alleged bullying from Braun. She also alleged she found out about the acquisition at the time it was announced to the world, without being given the opportunity to purchase her catalogue.

Throughout 2019 and 2020 it was reported she attempted to regain ownership, but negotiations fell through.

In October 2020, Swift’s catalogue was sold to Shamrock Capital, a private equity firm, for an estimated US$300+ million. In recent years, private equity firms have been purchasing music catalogues as profitable long-term financial assets, rather than for artistic or cultural reasons.

These events led Swift to rerecord her first six albums, branding them “Taylor’s Version”. Four have been released.

Swift rerecorded her albums, branding them ‘Taylor’s Version’.
melissamn/Shutterstock

She was able to create new versions of her songs, with their own intellectual property rights attached.

As owner of these new masters, she has control over where these songs are used, and she receives a greater portion of the income from the streams, downloads and licensing.

The decision was enormously successful. Mobilising her fans’ support via social media, they prioritised purchasing “Taylor’s Version” over the original masters, diluting the value of the originals.

Successful futures

Swift has repeatedly emphasised the need for artists to retain control over their work and to receive fair compensation. In a 2020 interview she said she believes artists should always own their master records and licence them back to the label for a limited period.

This would mean the label could monetise, control and manage the recordings for a certain time, but the artist retains the ownership. They eventually gain back full control, rather than handing over permanent rights to the label.

Swift’s experience has sparked conversations within the industry, prompting emerging artists to approach record labels with caution and advocate for fairer deals and ownership rights. Olivia Rodrigo negotiated her contract with Swift’s saga as a cautionary tale.

Purchasing her catalogue and masters gives Swift autonomy about how the rights to all of her music is used. Her fans are likely to continue to support her and purchase both the originals and “Taylor’s Version”, so the value of her original albums may rise.

And, in the long-run, her new acquisition will likely make her much wealthier.

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

– ref. Taylor Swift now owns all the music she has ever made: a copyright expert breaks it down – https://theconversation.com/taylor-swift-now-owns-all-the-music-she-has-ever-made-a-copyright-expert-breaks-it-down-257965

MIL OSI Analysis – EveningReport.nz –

June 5, 2025
MIL-Evening Report: Australian kids BYO lunches to school. There is a healthier way to feed students

Source: The Conversation (Au and NZ) – By Liesel Spencer, Associate Professor, School of Law, Western Sydney University

Getty Images/ courtneyk

Australian parents will be familiar with this school morning routine: hastily making sandwiches or squeezing leftovers into containers, grabbing a snack from the cupboard and a piece of fruit from the counter.

This would be unheard of in many other countries, including Finland, Sweden, Scotland, Wales, Brazil and India, which provide free daily school meals to every child.

Australia is one of the few high-income countries that does not provide children with a daily nutritious meal at school.

As families increasingly face food insecurity and a cost-of-living crisis, here’s how school lunches could help.

School lunches are important

During the week, children get a third of their daily food intake at school. What they eat during school hours has a significant impact on their health.

Australian children have much higher rates of obesity than children in countries with healthy lunch programs.

As children’s diets affect physical and cognitive development, and mental health, poor diet can also affect academic performance.

International research shows universal school meal programs – where all children are provided with a healthy meal at school each day – can improve both health and educational outcomes for students.

The problem with BYO lunchboxes

In Australia, children either bring a packed lunch or buy food at the school canteen. But the vast majority of these lunches don’t meet kids’ dietary needs.

As a 2022 Flinders University report notes, more than 80% of Australian primary school lunches are of poor nutritional quality. Half of students’ school-day food intake comes from junk food and fewer than one in ten students eat enough vegetables.

While these figures are based on 2011–2012 data, subsequent national survey data does not show significant improvements in children’s healthy diet indicators, including fruit and vegetable consumption. Time pressures on carers mean pre-packaged food can be a default lunchbox choice.

At the same time, many families with school students are not able to provide their children with healthy lunches. Food insecurity — not having regular access to enough safe, healthy and affordable food — affects an estimated 58% of Australian households with children, and 69% of single-parent households.

Hot weather also raises food safety concerns, as it’s hard to keep fresh food cool in schoolbags.

School meals programs in Australia

There are some historical examples of providing food to children at school in Australia. This includes the school milk program which ran from 1950s to 1970s. There were also wartime experiments in the 1940s. For example, the Oslo lunch (a cheese and salad sandwich on wholemeal bread, with milk and fruit) was provided at school to improve the health of children.

Today, there is a patchwork of school food programs run by not-for-profit organisations providing breakfast and/or lunch, and various schemes, including kitchen garden and school greenhouse programs.

There are also pilot schemes providing hot meals. For example, in Tasmania, the current pilot school lunch program feeds children in participating schools a hot lunch on some days of the week with state government support. Evaluation of the program showed strong benefits: healthier eating, calmer classrooms, better social connections from eating lunch together, and less food waste.

The 2023 parliamentary inquiry into food security recommended the federal government work with states and territories to consider the feasibility of a school meals program.

In May, the South Australian parliament opened an inquiry into programs in preschools and schools to ensure children and young people don’t go hungry during the day.

What would it take to introduce school meals?

Rolling out universal school meal programs across Australian schools would require cooperation between government and private sectors.

It could build on what already exists – including canteens, school gardens, food relief and breakfast clubs – to create a more consistent and inclusive system.

There’s a strong evidence base to guide this, both from Australian pilot programs and international examples.

Decisions would have to be made about regulation and funding – whether to opt for a federally-funded and regulated scheme with federal and state cooperation, or a state-by-state scheme.

Funding mechanisms from international models include fully government-funded, caregiver-paid (but with subsidies for disadvantaged families) and cost-sharing arrangements between government and families.

Costs per child per day are around A$10, factoring in economies of scale. Some pilot programs report lower costs of around $5, but involve volunteer labour.

More research is needed to determine parent and community attitudes and model these funding options, including preventative health benefits.

Delivery models may also vary depending on each school’s size, location and infrastructure. This could include onsite food preparation, central kitchens delivering pre-prepared meals, or partnerships with not-for-profit providers.

Ultimately, providing food at school could save parents valuable time and stress, and ensure all Australian students can access the health and education benefits of a nutritious school meal.

Liesel Spencer has undertaken volunteer work for the Federation of Canteens in Schools (Australia).

Miriam Williams has undertaken volunteer work for the Federation of Canteens in Schools (Australia).

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

– ref. Australian kids BYO lunches to school. There is a healthier way to feed students – https://theconversation.com/australian-kids-byo-lunches-to-school-there-is-a-healthier-way-to-feed-students-257465

MIL OSI Analysis – EveningReport.nz –

June 5, 2025
MIL-Evening Report: Bowel cancer rates are declining in people over 50. But why are they going up in younger adults?

Source: The Conversation (Au and NZ) – By Suzanne Mahady, Associate Professor, Gastroenterologist & Clinical Epidemiologist, Monash University

Thirdman/Pexels

Bowel cancer is the fourth most common cancer in Australia, with more than 15,000 cases diagnosed annually. It’s also the second most common cause of cancer-related death.

Recently, headlines have warned of an uptick in cases among younger adults, noting bowel cancer cases in people under 50 in Australia are among the highest in the world.

While this is very worrying, it’s also important to note the rate of new cases of bowel cancer in Australia overall has actually been falling over the past 20 years or so. Most cases of bowel cancer still occur in adults over 50, and thanks to a national screening program in this age group, rates are declining.

So why are rates increasing in younger people, and what can we do to mitigate the risk?

National screening is working

Australia was one of the first countries to commence population-based screening for bowel cancer. The National Bowel Cancer Screening Program was introduced in 2006. A kit is sent in the mail every two years to adults aged 50–74.

This simple poo test detects microscopic amounts of blood that may indicate the presence of cancer or a precancerous lesion, leading to earlier detection and higher rates of survival.

Despite the effectiveness of the program, participation rates are less than optimal at around 40%. We could see even further declines in rates of bowel cancer if more people took part.

How about younger adults?

In contrast to the falling incidence of bowel cancer in older people, emerging data over the past few years paints a different picture for people under 50.

Research I did with colleagues showed an increase in both bowel and rectal cancer from 1982 to 2014 in Australia in people under 50.

A recent preprint (a study yet to be peer-reviewed) includes data up to 2020, and further supports this trend. It suggests people born in the 1990s have two to three times the risk of bowel cancer compared to those born in the 1950s.

Similar trends have been noted in many countries, however international data suggests the rates of young-onset bowel cancer in Australia are among the highest in the world.

What’s driving this increase?

At the moment the causes are unclear. Some studies have focused on diet and lifestyle, obesity, and consumption of red meat.

However, diet as a cause of any disease is notoriously difficult to study. This is because it requires long-term data on what people eat, and following them up for the development of the disease (called an observational study).

If there are positive findings in the observational study, researchers may then test their hypothesis in a randomised controlled trial where one group eats a certain food (such as red meat) and the other does not, and then compare rates of bowel cancer in each group over time.

Due to the near impossibility of conducting these types of trials – as participants would need to follow strict dietary guidelines for years – dietary causes are challenging to prove.

More recent research has focussed on the potential role of E. coli infection in childhood, proposing that infection with some strains may lead to early DNA changes and subsequent increased cancer risk. Other research is looking at the role of an altered gut microbiome. These hypotheses warrant further work.

Ultimately, we don’t know why bowel cancer rates have been increasing in younger adults.
Andrey_Popov/Shutterstock

What can people do to reduce their risk?

It’s important to watch for any new or concerning symptoms. Any blood in your poo, particularly if it’s a new symptom, or a change in your regular bowel habits, are good reasons to promptly book a doctor’s appointment.

And while the bowel cancer screening kits are sent to adults from age 50 every two years, as of 2024 people aged 45–49 can request a kit to be sent to them.

Because the participation rate in the bowel cancer screening program is less than optimal, people over 50 who receive the kit in the mail are strongly encouraged to do the test as soon as possible. Increasing screening participation rates remains one of the most important ways we can reduce the burden of bowel cancer in Australia.

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

– ref. Bowel cancer rates are declining in people over 50. But why are they going up in younger adults? – https://theconversation.com/bowel-cancer-rates-are-declining-in-people-over-50-but-why-are-they-going-up-in-younger-adults-257728

MIL OSI Analysis – EveningReport.nz –

June 5, 2025
MIL-OSI USA: President Trump Agrees with Senator Warren: Scrap the Debt Limit

US Senate News:

Source: United States Senator for Massachusetts – Elizabeth Warren
June 04, 2025
“If Republicans in Congress were serious about preventing that economic disaster, they would scrap the debt limit entirely like President Trump has called for – not increase it by $4 trillion dollars to finance tax cuts for billionaires and billionaire corporations.”
Washington, D.C. – In response to President Donald Trump’s post, U.S. Senator Elizabeth Warren (D-Mass.), Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee, released the following statement:
“The independent non-partisan Congressional Budget Office confirmed today that Donald Trump’s Big Beautiful Bill will rip away health care from millions of people and increase the debt by $2.4 trillion to fund tax breaks for the ultra-wealthy. That’s a disgusting abomination, as Elon Musk made clear.
“I’ve argued for years that a default on the national debt would be an economic catastrophe that must be avoided by getting rid of the debt limit permanently. If Republicans in Congress were serious about preventing that economic disaster, they would scrap the debt limit entirely like President Trump has called for – not increase it by $4 trillion dollars to finance tax cuts for billionaires and billionaire corporations.”

MIL OSI USA News –

June 5, 2025
MIL-OSI USA: Senator Murray Slams Lutnick for Decimation of NOAA, Illegal Cancellation of Digital Equity Act Funding, More

US Senate News:

Source: United States Senator for Washington State Patty Murray

***WATCH: Senator Murray’s Q&A with Sec. Lutnick***

Washington, D.C. — Today, U.S. Senator Patty Murray (D-WA), Vice Chair of the Senate Appropriations Committee, questioned Commerce Secretary Howard Lutnick at a Senate Appropriations Commerce, Justice, Science, and Related Agencies Subcommittee hearing on the president’s fiscal year 2026 budget request for the Department. Senator Murray slammed what’s happening at the Department and President Trump’s thoughtless tariffs, and grilled Secretary Lutnick on the Department’s decision to completely eliminate the Pacific Coastal Salmon Recovery Fund in the budget request, the Department’s failure to submit required budget justifications to the Committee, and the Trump administration’s decision to cancel billions of dollars of funding from Senator Murray’s Digital Equity Act which passed with overwhelming bipartisan support.

In opening comments, Vice Chair Murray said:

“You know, over the law few months, I am deeply concerned because we have seen: mass firings at NOAA that are really, seriously jeopardizing the weather forecasting that we all count on; funds have been frozen; grants and contracts have been abruptly cancelled; and agencies that were created by Congress in a bipartisan way have been shuttered unilaterally—really ignoring the law—and sweeping, thoughtless tariffs that are crunching small businesses and raising costs for families.

“And we have even seen President Trump illegally block some emergency funding House Republicans included in their yearlong CR which has cut off funding your Department counts on for trade fairness, export controls, NOAA satellites, and more.

“So, needless to say: I don’t think any of this helps advance the Department’s mission to spur economic growth and strengthen America’s competitiveness, and it does leaves me very seriously concerned about whether the Department is going to be able to carry out its job.

“Now, before I turn to my questions, I do want to quickly raise your decision to cancel $48 million in Tech Hub funding for the American Aerospace Materials Manufacturing Center in Eastern Washington and Idaho—alongside several other hubs. We had a chance to talk about this yesterday, but I want you to know I have a lot more questions than I think you answered.

“This hub is really a partnership of industry, academia, the military, and governments at all levels. Cancelling that funding and further delaying progress at the tech hub really damages our defense industrial base and limits our ability to compete with China, as I told you yesterday. So, that is unacceptable, and I look forward to you resolving that as soon as possible.”

[TRUMP REQUESTS TO ELIMINATE SALMON RECOVERY PROGRAM]

Senator Murray began by explaining how important NOAA is to our nation’s fisheries and how important salmon are to Washington state’s way of life, calling out President Trump’s request to zero out funding for a key salmon program: “Now, I do want to ask you while you’re here, one of the agencies you oversee is NOAA. It is absolutely essential to supporting sustainable fisheries, protecting our natural resources, and making sure that we have accurate weather forecasts. Cutting away at NOAA—as you have been doing and as your budget proposes to do further—is going to do serious harm. Among other cuts, your budget would completely eliminate the Pacific Coastal Salmon Recovery Fund. That would be a catastrophic failure—it would abandon our communities, our Tribes, and our industries who rely on salmon. And across the Pacific Northwest, salmon are not just fish—they are a way of life, and they are foundational to our economy and our culture. So, I would like you to explain quickly why you proposed that cut, and I want to ask you, did you consult with our Tribes or fishing communities who count on it before making that decision?”

Secretary Lutnick replied, “The issues are that we do the same thing in multiple ways in NOAA. We have not cut any hydrologists, which are the people who study the water.”

“You eliminated the Pacific Coastal Salmon Recovery Fund. That is what I’m precisely asking you about. Did you talk to our tribes or fishermen before you did that?” Senator Murray pressed.

“Of course,” responded Secretary Lutnick.

Senator Murray said, “Well, I have spoken to the tribes, I’ve talked to the scientists, I’ve talked to the fishermen. No one—no one—in the Pacific Northwest supports those cuts. And I want everyone to know I will not vote for an appropriations bill that eliminates that funding.”

[LACK OF TRANSPARENCY]

Senator Murray then asked about the Department failure to present full budget justifications to Congress, “Now, staying on NOAA facilities like the Northwest Fishery Science Center, which is in Seattle, are really in dire need of investment. For this reason, this CJS Appropriations Subcommittee has long included language requiring the Secretary of Commerce to include the cost estimates for NOAA construction projects of more than $5 million, in the congressional budget justification materials, as well as the 5-year cost estimates for those projects. Are you aware of that requirement?”

“My understanding is we filed our budget according to the CR with exact precision,” Secretary Lutnick replied.

“Well, have you submitted the Department’s FY26 congressional budget justification? It did not include the list of projects, which it’s required to do,” asked Senator Murray.

Secretary Lutnick continued to dodge, “My understanding is the CR had certain obligations for us, and we followed them with precision. That’s my understanding.”

Senator Murray pushed back, “Well, the fact is that you are required by law to submit the NOAA PAC [Procurement, Acquisition and Construction] construction list to Congress with the budget. That wasn’t done. Can we get that list by Friday?”

“I’ll happily take a look at it. And if it’s required, of course, I will send it,” said Secretary Lutnick.

Senator Murray responded, “Okay. It is required.”

[ATTACKS ON DIGITAL EQUITY ACT]

Senator Murray turned her questions about President Trump’s recent announcement he is illegally planning to cancel Digital Equity Act grants, “Mr. Secretary, I wrote a law, it was called the Digital Equity Act, to help close the digital divide—and it passed with overwhelming bipartisan support. Now, the Administration has arbitrarily cancelled billions of dollars for the Digital Equity Act, claiming it’s unconstitutional. This is a program that every state, Democrat and Republican, has applied for—every single state in the country. It distributes laptops in Iowa. It helped people get back online after Hurricane Helene washed away computers and phones in western North Carolina. It’s a program in rural Alabama where they taught seniors—including some who have never used a computer—how to use the internet. I want to ask you, has the Supreme Court declared this bipartisan law unconstitutional? Has any judge?”

Secretary Lutnick sidestepped the question, “It will go through the courts and the courts will decide.”

“No one has declared this unconstitutional—no one. Your job, Mr. Secretary, is to carry out the law that Congress has passed. You don’t get to keep laptops from our kids, because the President doesn’t care about kids in rural communities. My advice to you here—it is a law, it is not unconstitutional, and I would urge you to get those digital equity dollars out the door and save everyone the legal fees, because the law is very clear,” emphasized Senator Murray.

[TRUMP’S THOUGHTLESS TRADE WAR]

Senator Murray concluded by saying, “I just have a few seconds left, and I before I finish, I do want to underscore my state, Washington state, is one of the most trade dependent states in the nation. 40% of our jobs are connected to international trade and President Trump and your Department continue to pursue this chaotic tariff policy that businesses in my state stand to lose billions of dollars. I have heard from businesses across my state, from manufacturers, from small retailers. They are struggling to absorb the cost increases on everything from napkins to car parts. And this uncertainty has really left them scrambling which has delayed investments and caused serious supply chain disruptions, especially at our ports. These actions, in addition, have really harmed our relationships with our key allies like Canada. I heard Senator Collins here earlier talking about Maine being their neighbor—it is our neighbor in Washington state. They are one of our biggest trading partners. And let me be clear, this is causing chaos, disruption, anger. And we have got to get this resolved because farmers, our people and our small businesses and our communities, are really hurting.”

MIL OSI USA News –

June 5, 2025
MIL-OSI Security: Coast Guard responds to vessel fire offshore Adak, Alaska

Source: United States Coast Guard

U.S. Coast Guard sent this bulletin at 06/04/2025 05:00 PM EDT

News Release

U.S. Coast Guard 17th District Alaska
Contact: 17th District Public Affairs
Office: (907) 463-2065
After Hours: (907) 463-2065
17th District online newsroom

06/04/2025 04:39 PM EDT

KODIAK, Alaska — The Coast Guard is responding to a vessel fire approximately 300 miles south of Adak, Wednesday. Watchstanders at the Seventeenth Coast Guard District command center received a distress alert Tuesday at approximately 3:15 p.m. reporting a fire aboard the cargo ship Morning Midas, a 600-foot U.K.-flagged cargo vessel with 22 crew members and reportedly carrying several thousand vehicles. Watchstanders immediately issued an Urgent Marine Information Broadcast requesting assistance from vessels in the vicinity of the Morning Midas. Three good Samaritan vessels responded to the incident. Watchstanders also diverted the crew of U.S. Coast Guard Cutter Munro (WMSL 755) to the area, directed the launch of a C-130J Super Hercules aircrew from Coast Guard Air Station Kodiak, and positioned an MH-60T Jayhawk helicopter aircrew in Adak. All 22 crew members aboard the Morning Midas evacuated the ship aboard a life raft and were subsequently rescued by the crew of motor vessel Cosco Hellas, one of the good Samaritan vessels on scene, with no reported injuries. The status of the fire is currently unknown, but smoke is still emanating from the vessel. “As the search and rescue portion of our response concludes, our crews are working closely with the vessel’s parent company, Zodiac Maritime, to determine the disposition of the vessel,” said Rear Admiral Megan Dean, commander of the Coast Guard’s Seventeenth District. “We are grateful for the selfless actions of the three nearby vessels who assisted in the response and the crew of motor vessel Cosco Hellas, who helped save 22 lives.” The Morning Midas is estimated to have approximately 350 metric tons of gas fuel and 1,530 metric tons of very low sulfur fuel oil (VLSFO) onboard. They are also reportedly carrying a total of 3,159 vehicles, with 65 being fully electric vehicles and 681 being partial hybrid electric vehicles. This is based on reports to the Coast Guard and is subject to change pending the development of any new information. The Coast Guard is working with the Morning Midas’s parent company Zodiac Maritime to coordinate recovery efforts of the vessel. Zodiac Maritime can be contacted via email at operations@navigateresponse.com or by phone at 44-20-7283-9915 or 65-6222-6375.

MIL Security OSI –

June 5, 2025
MIL-Evening Report: Woodside’s North West Shelf approval is by no means a one-off. Here are 6 other giant gas projects to watch

Source: The Conversation (Au and NZ) – By Samantha Hepburn, Professor, Deakin Law School, Deakin University

GREG WOOD/AFP via Getty Images

The federal government’s decision to extend the life of Woodside’s North West Shelf gas plant in Western Australia has been condemned as a climate disaster.

The gas lobby claims more gas is needed to secure energy supplies, pointing to predicted gas shortages in parts of Australia in the short term. But given most proposed gas projects are directed at the export market, the problem is likely to persist.

And the science is clear: no fossil fuel projects can be opened if the world is to avoid catastrophic climate change.

Despite this, a slew of polluting gas projects are either poised to begin operating in Australia, or lie firmly in the sights of industry.

How Australia’s gas contributes to climate change

Gas production in Australia harms the climate in two ways.

The first is via “fugitive” emissions – leaks and unintentional releases that occur when gas is being extracted, processed and transported. These emissions are typically methane, which traps more heat in the atmosphere per molecule than carbon dioxide.

Fugitive emissions count towards Australia’s greenhouse gas accounts, comprising about 6% of our total emissions.

So, government approval for new gas projects undermines Australia’s commitment to reaching net-zero emissions. Labor enshrined this goal in legislation in its previous term of government, and all states and territories have also adopted it.

The second climate harm occurs when Australia’s gas is burned for energy overseas. Those emissions do not count towards our national emissions accounts, but they substantially contribute to global warming.

Under national environment law, the federal government is not required to consider the potential harm a project might cause to the global climate. This loophole means fossil fuel developments can continue to win government backing.

Below, I outline six of the biggest gas projects Australia has in the pipeline.

1. Barossa Gas Project

This A$5.6 billion project by energy giant Santos is located in the Timor Sea, about 300km north of Darwin. The Australian government’s offshore energy regulator approved it in April this year.

The project will extract gas from the Barossa field and transport it to a liquified natural gas (LNG) facility in Darwin for processing and export.

The venture would reportedly be among the worst polluting oil and gas projects in the world. On one estimate, it would release about 380 million tonnes of climate pollution over its 25-year life.

2. Scarborough Pluto Train 2

Pluto Train 2 is an extension of Woodside’s existing Scarborough project, centred around a gas field about 375km off WA’s Pilbara coast. A 430-kilometre pipeline would connect that gas to a second LNG train at a facility near Karratha. “Train” refers to the unit in a plant that turns natural gas into liquid.

The project has federal and state approval. It is about 80% complete and scheduled to begin operating by next year. According to Climate Analytics, the expansion would create about 9.2 million tonnes of carbon-dioxide equivalent each year.

3. Surat Phase 2

This coal seam gas project in Gladstone, Queensland, would be operated by Arrow energy – a joint venture between Shell and PetroChina.

It involves substantially expanding existing gas fields by building up to 450 new production wells. The project is expected to supply 130 million cubic feet of gas each day at its peak, and has been opposed by environment groups.

4. Narrabri Gas Project

This $3.6 billion Santos project in northwest New South Wales involves drilling up to 850 coal seam gas wells over 95,000 hectares. The National Native Title Tribunal last month ruled leases for the project could be granted, leaving Santos only a few regulatory barriers to clear.

Environmental groups and Traditional Owners say the project threatens water resources, biodiversity and Indigenous sites. However, the tribunal found the project’s benefits to energy reliability outweighed those concerns.

5. Beetaloo Basin

The Beetaloo Basin is located 500km southeast of Darwin. It covers 28,000 kilometres and is estimated to contain up to 500 trillion cubic feet of gas. A number of companies are vying for the right to develop the huge resource.

It is predicted to emit up to 1.2 billion tonnes over 25 years. A CSIRO report says Beetaloo could be tapped without adding to Australia’s net emissions. However, experts say the report was too optimistic and relies far too heavily on carbon offsets.

6. Browse Basin

Browse Basin, 425 kilometres north of Broome off WA, is considered Australia’s biggest reserve of untapped conventional gas.

Woodside plans to develop the Browse gas fields, but the area is remote and difficult to access. According to the ABC, Woodside’s North West Shelf project is considered the last hope for extracting the valuable resource.

Environmental groups say the project, if approved, would emit 1.6 billion tonnes of climate pollution – three times Australia’s current annual emissions.

The basin is also located near the pristine Scott Reef, a significant coral reef ecosystem.

A major disconnect

The projects listed above, if they proceed, weaken Australia’s efforts to reach its emission reduction goals. And their overall climate impact is truly frightening.

The re-elected Labor government has pledged to revisit attempts to reform national environment laws. This presents a prime opportunity to ensure the climate harms of fossil fuel projects are key to environmental decision making.

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

– ref. Woodside’s North West Shelf approval is by no means a one-off. Here are 6 other giant gas projects to watch – https://theconversation.com/woodsides-north-west-shelf-approval-is-by-no-means-a-one-off-here-are-6-other-giant-gas-projects-to-watch-257899

MIL OSI Analysis – EveningReport.nz –

June 5, 2025
MIL-OSI: Main Street Financial Services Corp. Announces Officer Termination, Appointment

Source: GlobeNewswire (MIL-OSI)

WOOSTER, Ohio, June 04, 2025 (GLOBE NEWSWIRE) — Main Street Financial Services Corp. (OTCQX:MSWV) (the “Company”) today announced that the Board of Directors (the “Board”) has terminated the Company’s President and Chief Executive Officer, Jay R. VanSickle II, effective June 3, 2025. In accordance with Mr. VanSickle’s employment contract, he was terminated without cause and is no longer a member of the Board. The Board has appointed Mark R. Witmer, currently a director and Executive Chair of the Company, as President and Chief Executive Officer. Mr. Witmer will also maintain his role as Chairman of the Board. Mr. Witmer has been a director and Executive Chair of the Company since 2024, following the merger of the Company and Wayne Savings Bancshares, Inc., where he previously served on the board and as Executive Chair since 2021, and has approximately 30 years of community banking experience, including commercial lending, agricultural lending and mortgage banking experience. The Board thanks Mr. VanSickle II for his contributions and looks forward to Mr. Witmer’s leadership.

About MSWV: Main Street Financial Services Corp. is a $1.4 billion holding company headquartered in Wooster, Ohio. Its primary subsidiary, Main Street Bank Corp. was founded in 1899 and provides full-service banking, commercial lending, and mortgage services across its branch infrastructure. Today, Main Street Bank Corp operates 19 branch locations in Wooster, Ohio, Wheeling, West Virginia and other surrounding communities in Ohio and West Virginia.

Statements contained in this news release which are not historical facts may be forward- looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated due to a number of factors. Factors which could result in material variations include, but are not limited to, changes in interest rates which could affect net interest margins and net interest income, competitive factors which could affect net interest income and noninterest income, changes in demand for loans, deposits and other financial services in the Company’s market area; changes in asset quality, general economic conditions as well as other factors discussed in documents filed by the Company from time to time. The Company undertakes no obligation to update these forward-looking statements to reflect events or circumstances that occurred after the date on which such statements were made.

Contact:

Main Street Financial Services Corp.
Mark R. Witmer
President and Chief Executive Officer
330-264-5767
mwitmer@mymainstreetbank.bank

The MIL Network –

June 5, 2025
MIL-OSI: Cipher Mining Announces May 2025 Operational Update

Source: GlobeNewswire (MIL-OSI)

NEW YORK, June 04, 2025 (GLOBE NEWSWIRE) — Cipher Mining Inc. (NASDAQ:CIFR) (“Cipher” or the “Company”) today released its unaudited production and operations update for May 2025.

Key Highlights

Key Metrics May 2025

BTC Mined¹ 179

BTC Sold 64

BTC Held² 966

Deployed Mining Rigs 75,000

Month End Operating Hashrate (EH/s) 13.5

Month End Fleet Efficiency (J/TH) 18.9

¹ Includes May power sales estimates (based on current meter data and nodal prices) equivalent to ~4 bitcoin (using month-end bitcoin price of $104,430) and ~23 BTC mined at JV data centers representing Cipher’s ownership

² Includes ~334 BTC pledged as collateral

Management Commentary for May

As we enter the month of June, Cipher continues to make excellent progress at its Black Pearl site and remains on track for energization this month. The Phase I building is nearly complete and legacy rigs from the Odessa upgrade have now been relocated and racked, waiting for energization. Cipher has also purchased the remaining balance of mining rigs to fill the 150 MW of power capacity at Phase I of Black Pearl and is prepared to deploy the new rigs upon arrival, which we expect in early July. Upon deployment of those new rigs, Cipher expects its hashrate capacity to increase from ~13.5 EH/s currently to ~23.1 EH/s.

Bitcoin Production and Operations Updates for May 2025

Cipher produced ~179¹ BTC in May. As part of its regular treasury management process, Cipher sold ~64 BTC in May, ending the month with a balance of ~966² BTC.

Legacy rigs from the Odessa upgrade have been relocated and installed at the Black Pearl site

About Cipher

Cipher is focused on the development and operation of industrial-scale data centers for bitcoin mining and HPC hosting. Cipher aims to be a market leader in innovation, including in bitcoin mining growth, data center construction and as a hosting partner to the world’s largest HPC companies. To learn more about Cipher, please visit https://www.ciphermining.com/.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the federal securities laws of the United States. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions. Any statements made in this press release that are not statements of historical fact, such as, statements about the Company’s beliefs and expectations regarding its planned business model and strategy, its bitcoin mining and HPC data center development, timing and likelihood of success, capacity, functionality and timing of operation of data centers, expectations regarding the operations of data centers, potential strategic initiatives, such as joint ventures and partnerships, and management plans and objectives, are forward-looking statements and should be evaluated as such. These forward-looking statements generally are identified by the words “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “seeks,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “strategy,” “future,” “forecasts,” “opportunity,” “predicts,” “potential,” “would,” “will likely result,” “continue,” and similar expressions (including the negative versions of such words or expressions).

These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Cipher and its management, are inherently uncertain. Such forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: volatility in the price of Cipher’s securities due to a variety of factors, including changes in the competitive and regulated industry in which Cipher operates, Cipher’s evolving business model and strategy and efforts it may make to modify aspects of its business model or engage in various strategic initiatives, variations in performance across competitors, changes in laws and regulations affecting Cipher’s business, and the ability to implement business plans, forecasts, and other expectations and to identify and realize additional opportunities. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of Cipher’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024 filed with the Securities and Exchange Commission (“SEC”) on February 25, 2025, and in Cipher’s subsequent filings with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Cipher assumes no obligation and, except as required by law, does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

Website Disclosure

The company maintains a dedicated investor website at https://investors.ciphermining.com/ (“Investors’ Website”). Financial and other important information regarding the Company is routinely posted on and accessible through the Investors Website. Cipher uses its Investors’ Website as a distribution channel of material information about the Company, including through press releases, investor presentations, reports and notices of upcoming events. Cipher intends to utilize its Investors’ Website as a channel of distribution to reach public investors and as a means of disclosing material non-public information for complying with disclosure obligations under Regulation FD. In addition, you may sign up to automatically receive email alerts and other information about the Company by visiting the “Email Alerts” option under the Investors Resources section of Cipher’s Investors’ Website and submitting your email address.

Contacts:
Investor Contact:
Courtney Knight
Head of Investor Relations at Cipher Mining
courtney.knight@ciphermining.com

Media Contact:
Ryan Dicovitsky / Kendal Till
Dukas Linden Public Relations
CipherMining@DLPR.com

_____________________________

¹ Includes May power sales estimates (based on current meter data and nodal prices) equivalent to ~4 bitcoin (using month-end bitcoin price of $104,430) and ~23 BTC mined at JV data centers representing Cipher’s ownership

² Includes ~334 BTC pledged as collateral

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4ff3f781-3fd5-4115-b152-137bab28176f

The MIL Network –

June 5, 2025
MIL-OSI: Matador Technologies Inc. Announces Closing of Second Tranche of Non-Brokered Private Placement to Support Bitcoin Acquisition

Source: GlobeNewswire (MIL-OSI)

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES

TORONTO, June 04, 2025 (GLOBE NEWSWIRE) — Matador Technologies Inc. (“Matador” or the “Company”) (TSXV: MATA, OTCQB: MATAF), a Bitcoin-focused technology company, is pleased to announce that it has closed the second tranche of its previously announced non-brokered private placement (the “Offering”), pursuant to which it has issued an aggregate of 2,652,097 units (the “Units”) at a price of $0.62 per Unit, for aggregate gross proceeds of C$1,644,300. The first tranche closed on May 30, 2025, and both tranches are part of the Offering announced on May 22, 2025.

Each Unit consists of one common share and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder to acquire one additional common share of the Company at a price of $0.77 for a period of twelve (12) months from the date of issuance.

The Warrants are subject to an acceleration clause: in the event that the closing price of the Company’s common shares on the TSX Venture Exchange (the “TSXV”) is equal to or exceeds $1.15 for five (5) consecutive trading days at any time following the date which is four months and one day after the closing date, the Company may accelerate the expiry date of the Warrants to the date that is thirty (30) days following the dissemination of a press release announcing such acceleration (the “Acceleration Provisions“).

The securities issued in connection with the second tranche of the Offering are subject to a statutory hold period expiring on October 5, 2025. In connection with the second tranche closing, the Company paid aggregate finders fees of $95,582 and issued an aggregate of 152,165 broker warrants to eligible finders, each broker warrant entitling the holder to acquire one common share of the Company at $0.77 for a period of one year, subject to the Acceleration Provisions.

The net proceeds of the Offering are expected to be allocated approximately one-third to each of the following: (i) the purchase of Bitcoin; (ii) advancing the Company’s gold acquisition and Grammies business initiatives; and (iii) general corporate purposes.

Insiders of the Company subscribed for an aggregate of 200,000 Units in connection with the second tranche closing. Such participation is considered to be a “related party transaction” within the meaning of Multilateral Instrument 61-101-Protection of Minority Security Holders in Special Transactions (“MI 61-101“). The Company has relied upon on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of all related party participation in the Offering as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involves interested parties, exceeds 25% of the Company’s market capitalization (as determined under MI 61-101).

The Offering is subject to the final approval of the TSX Venture Exchange.

For additional information, please contact:

Media Contact:
Sunny Ray
President
Email: sunny@matador.network
Phone: 647-496-6282

About Matador Technologies Inc.

Matador Technologies Inc. is a publicly traded Bitcoin ecosystem company that holds Bitcoin as its primary treasury asset and builds products to enhance the Bitcoin network. Through a self-reinforcing model that combines strategic Bitcoin accumulation, Bitcoin-native product development, and participation in digital asset infrastructure, Matador aims to grow long-term shareholder value without dilution.

The Company’s flagship offering, the Digital Gold Platform, allows users to buy, sell, and trade 1-gram gold units inscribed on the Bitcoin blockchain—bridging traditional value with decentralized technology. With a Bitcoin-first strategy, a debt-free balance sheet, and a clear focus on innovation, Matador is helping shape the future of financial infrastructure on Bitcoin.

Learn more at www.matador.network.

Cautionary Statement Regarding Forward-Looking Information

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.

Forward Looking Statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, including risks associated with the implementation of the Company’s treasury management strategy, receipt of regulatory approvals, the closing of any subsequent tranches of the Offering and the launch of its mobile application as currently proposed or at all. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including with respect to the potential acquisition of Bitcoin and/or US dollars, the pricing of such acquisitions and the timing of future operations. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

The MIL Network –

June 5, 2025
MIL-OSI: Royalty Pharma to Present at the Goldman Sachs 46th Annual Global Healthcare Conference

Source: GlobeNewswire (MIL-OSI)

NEW YORK, June 04, 2025 (GLOBE NEWSWIRE) — Royalty Pharma plc (Nasdaq: RPRX) today announced that it will participate in a fireside chat at the Goldman Sachs 46^th Annual Global Healthcare Conference on Tuesday, June 10, 2025 at 2:00 p.m. ET.

The webcast will be accessible from Royalty Pharma’s “Events” page at https://www.royaltypharma.com/investors/events/. The webcast will also be archived for a minimum of thirty days.

About Royalty Pharma

Founded in 1996, Royalty Pharma is the largest buyer of biopharmaceutical royalties and a leading funder of innovation across the biopharmaceutical industry, collaborating with innovators from academic institutions, research hospitals and non-profits through small and mid-cap biotechnology companies to leading global pharmaceutical companies. Royalty Pharma has assembled a portfolio of royalties which entitles it to payments based directly on the top-line sales of many of the industry’s leading therapies. Royalty Pharma funds innovation in the biopharmaceutical industry both directly and indirectly – directly when it partners with companies to co-fund late-stage clinical trials and new product launches in exchange for future royalties, and indirectly when it acquires existing royalties from the original innovators. Royalty Pharma’s current portfolio includes royalties on more than 35 commercial products, including Vertex’s Trikafta, GSK’s Trelegy, Roche’s Evrysdi, Johnson & Johnson’s Tremfya, Biogen’s Tysabri and Spinraza, AbbVie and Johnson & Johnson’s Imbruvica, Astellas and Pfizer’s Xtandi, Novartis’ Promacta, Pfizer’s Nurtec ODT and Gilead’s Trodelvy, and 15 development-stage product candidates. For more information, visit www.royaltypharma.com.

Royalty Pharma Investor Relations and Communications

+1 (212) 883-6637
ir@royaltypharma.com

The MIL Network –

June 5, 2025
MIL-OSI: Transocean Ltd. Announces Exercise of $100 Million Option for Harsh Environment Semisubmersible

Source: GlobeNewswire (MIL-OSI)

STEINHAUSEN, Switzerland, June 04, 2025 (GLOBE NEWSWIRE) — Transocean Ltd. (NYSE: RIG) (“Transocean”) today announced that a two-well option was exercised for the Transocean Spitsbergen in Norway. The program is expected to commence in the first quarter of 2026 in direct continuation of the rig’s current program and contribute approximately $100 million in backlog, excluding additional services.

About Transocean

Transocean is a leading international provider of offshore contract drilling services for oil and gas wells. The company specializes in technically demanding sectors of the global offshore drilling business with a particular focus on ultra-deepwater and harsh environment drilling services and operates the highest specification floating offshore drilling fleet in the world.

Transocean owns or has partial ownership interests in and operates a fleet of 32 mobile offshore drilling units, consisting of 24 ultra-deepwater floaters and eight harsh environment floaters.

Forward-Looking Statements

The statements described herein that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements could contain words such as “possible,” “intend,” “will,” “if,” “expect,” or other similar expressions. Forward-looking statements are based on management’s current expectations and assumptions, and are subject to inherent uncertainties, risks and changes in circumstances that are beyond our control, and many cases, cannot be predicted. As a result, actual results could differ materially from those indicated by these forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, estimated duration of customer contracts, contract dayrate amounts, future contract commencement dates and locations, planned shipyard projects and other out-of-service time, sales of drilling units, the cost and timing of mobilizations and reactivations, operating hazards and delays, risks associated with international operations, actions by customers and other third parties, the fluctuation of current and future prices of oil and gas, the global and regional supply and demand for oil and gas, the intention to scrap certain drilling rigs, the effects of the spread of and mitigation efforts by governments, businesses and individuals related to contagious illnesses, and other factors, including those and other risks discussed in the company’s most recent Annual Report on Form 10-K for the year ended December 31, 2024, and in the company’s other filings with the SEC, which are available free of charge on the SEC’s website at: www.sec.gov. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated. All subsequent written and oral forward-looking statements attributable to us or to persons acting on our behalf are expressly qualified in their entirety by reference to these risks and uncertainties. You should not place undue reliance on forward looking statements. Each forward-looking statement speaks only as of the date of the particular statement. We expressly disclaim any obligations or undertaking to release publicly any updates or revisions to any forward-looking statement to reflect any change in our expectations or beliefs with regard to the statement or any change in events, conditions or circumstances on which any forward-looking statement is based, except as required by law. All non-GAAP financial measure reconciliations to the most comparative GAAP measure are displayed in quantitative schedules on the company’s website at: www.deepwater.com.

This press release, or referenced documents, do not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and do not constitute an offering prospectus within the meaning of the Swiss Financial Services Act (“FinSA”) or advertising within the meaning of the FinSA. Investors must rely on their own evaluation of Transocean and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of Transocean.

Analyst Contact:
Alison Johnson
+1 713-232-7214

Media Contact:
Pam Easton
+1 713-232-7647

The MIL Network –

June 5, 2025
MIL-OSI USA: ICYMI—Hagerty Joins Varney & Co. on Fox Business to Discuss Budget Reconciliation, Chinese Nationals’ Arrests

US Senate News:

Source: United States Senator for Tennessee Bill Hagerty

WASHINGTON—Today, United States Senator Bill Hagerty (R-TN), a member of the Senate Banking and Foreign Relations Committees, joined Varney & Co. on Fox Business to discuss the budget reconciliation package, along with two Chinese nationals charged with smuggling and potential agroterrorism.

*Click the photo above or here to watch*

Partial Transcript

Hagerty on the need to pass the budget reconciliation package: “We certainly do respect the effort that Elon undertook with respect to government efficiency. We all want to see cost reductions, but I tell you: my number one goal is to avoid what would otherwise be a greater than $4 trillion tax increase on Americans. I talked with Kevin Hassett yesterday, the National Economic Advisor at the White House. Were that to happen, were we not to pass this, we’d have over $4.2 trillion tax increase on America that would cut GDP growth negative six percent. Certainly, the nation, the world, doesn’t need to see that happen. One of the overarching aims here is to create certainty in our tax code to stimulate more capital investment. That’s exactly what will happen if we pass this. And Leader [John] Thune is right, the Congressional Budget Office essentially conducted malpractice last time in 2017 when they tried to estimate the impact of that Tax Cuts and Jobs Act. They missed it by a trillion dollars of revenue. I’m very optimistic; this will help reduce the deficit.”

Hagerty on the prospective positive financial impacts of the budget reconciliation package: “As I talk to CEOs around the country, they want to make investments here in America, but they need certainty in terms of the rule set. We can deliver that through this bill. We need to do it quickly. And if we do it quickly, we’ll be able to see a 2026 that’s going to be an incredible move forward, lots more capital investment. That capital investment begets more employment. That employment and jobs begets more economic activity. It’s a positive feedback loop that will make America grow at a great degree, much higher than the 1.8 percent that the Congressional Budget Office predicts. And if we’re at three percent or better, we’re going to see that deficit begin to close much more rapidly.”

Hagerty on the arrest of two Chinese nationals for smuggling and potential agroterrorism: “We need to be extremely careful, particularly when you think about the movement that we’ve had with Chinese nationals, particularly those affiliated with the [People’s Liberation Army], moving into our university system. That was precisely the case here. And we need to be very, very careful about who comes in, what they’re bringing with them. And make no mistake, and I’m so pleased that [FBI Director] Kash Patel [is] in the position he’s in, because he’s seeing right through all of this. Make no mistake: the Chinese Communist Party is not our friend. This sort of infiltration, this act of agroterrorism is the last thing we need to see on American soil. And the only way to prevent it is by waking up and realizing that we’ve got to be extraordinarily careful as we allow anybody to come into this country.”

MIL OSI USA News –

June 5, 2025
MIL-OSI Russia: Financial news: Reducing the risk of servicing accounts of droppers and technical companies: methodological recommendations of the Bank of Russia

Translation. Region: Russian Federal

Source: Central Bank of Russia –

Bank of Russia draws attention credit institutions that shadow businesses (online casinos, cryptocurrency exchangers, financial pyramids, drug dealers, etc.) use corporate cards for their payments, which are issued to so-called technical companies.

In order to prevent such risks, the regulator recommends that banks analyze money transfers to corporate cards of technical companies from cards of individuals and vice versa.

Banks are also asked to implement online monitoring of client transactions to promptly identify droppers and technical companies. They must assess whether the analyzed clients have counterparties that have previously transferred money to droppers. If the risk is confirmed, the bank can introduce a limit on individual transactions for crediting money in favor of such a client, including outside working hours.

The Bank of Russia is publishing new methodological recommendations in addition to the existing ones tools on combating money laundering and terrorist financing.

Preview photo: Alexander Kazakov / TASS

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

Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

HTTPS: //vv. KBR.ru/Press/Event/? ID = 24675

MIL OSI Russia News –

June 5, 2025
MIL-OSI Russia: Dmitry Grigorenko: The IT industry’s contribution to the Russian economy amounted to 6%

Translation. Region: Russian Federal

Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

Deputy Prime Minister – Chief of the Government Staff Dmitry Grigorenko presented the results of monitoring the IT industry for 2024. The presentation took place as part of a meeting with digital transformation leaders at the Digital Industry of Industrial Russia conference in Nizhny Novgorod.

“Today, digital is everywhere – in public administration, the economy, the social sphere. And the basis of these changes is the developments of our IT companies. The IT industry is actively developing. This is evident, among other things, from the solutions presented at CIPR. At the same time, there was previously no reliable and unified model for assessing the industry that would show the real picture and dynamics. We presented an approach based on departmental data on accredited IT companies. It has been verified by businesses and specialized institutes. Thus, the contribution of the IT industry to Russia’s GDP in terms of gross value added was 6%. This is many times more than previously presented estimates, because they did not include data on large technology companies with a non-core OKVED code. Based on comprehensive and regular monitoring of the IT industry, it is also proposed to analyze the effectiveness of government support measures,” said Dmitry Grigorenko.

In the developed methodology, the IT industry is understood as a set of companies included in the register of accredited organizations operating in the field of information technology (register of IT companies). Aggregated data from the Federal Tax Service, as well as data from the Ministry of Digital Development, the Bank of Russia, the Federal Customs Service and Rosstat are used to monitor the IT industry.

An independent methodology for assessing the IT industry was developed by ANO Digital Economy with the support of the Ministry of Digital Development. According to the results of 2024, the contribution of accredited IT companies to the Russian economy amounted to 6%. The IT industry is actively supported by the state, and for every ruble of state support invested, 2 rubles were received in taxes.

Monitoring is planned to be carried out on an ongoing basis with the possibility of expanding the list of indicators.

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

MIL OSI Russia News –

June 5, 2025
MIL-OSI Russia: Marat Khusnullin: More than 5 thousand km of roads have been restored in the reunited regions

Translation. Region: Russian Federal

Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

The restoration of motorways in the reunited regions is proceeding at an active pace, taking into account both the strategic importance of the backbone network of highways and the demand for inter-municipal and intra-city roads. Over 5 thousand km have already been repaired, Deputy Prime Minister Marat Khusnullin reported.

“Last week, Prime Minister Mikhail Mishustin signed an order to allocate more than 7.6 billion rubles to the budgets of the DPR, LPR, Zaporizhzhya and Kherson regions for road repairs. This will allow us to bring another 240 km up to standard. At the same time, to date, in the reunited regions, we have made high-quality road surfaces on more than 5 thousand km. Now, for example, under the supervision of Avtodor, asphalt laying has been completed on two more highways in the Kherson region,” said Marat Khusnullin.

The Deputy Prime Minister added that the first road, more than 50 km long through the settlement of Ivanovka, connects two strategic highways: Odessa – Melitopol – Novoazovsk and R-280 “Novorossiya”. The second – Novaya Kakhovka – Armyansk – goes from Chaplinka and adjoins the Odessa – Melitopol – Novoazovsk road.

“In general, we have good readiness of roads in the Kherson region according to the 2025 program. More than 125 km of the lower layer and about 120 km of the upper layer of asphalt concrete have been laid. In fact, the current year’s program in the region has been completed by about 70%. Now the main focus will be on the arrangement of roads: marking, installing barrier fencing, sidewalks and bus stops for local residents will be provided in certain areas. Currently, about 150 people and more than 230 units of equipment are involved in the Kherson region,” said Vyacheslav Petushenko, Chairman of the Board of the state-owned company Avtodor.

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

MIL OSI Russia News –

June 5, 2025
MIL-OSI NGOs: Skipping straws, biking to work: do our small actions still matter for the planet?

Source: Greenpeace Statement –

Soon after I first joined Greenpeace in the 2010s, I realized I had a steep learning curve ahead of me. I just didn’t expect that learning eco-conscious living (weighing the environmental impact of everyday choices such as what to eat, bring, do, or throw away) would feel like such a crash course. Back then it was about walking the talk, as is expected of everyone in environmental campaigning. It felt mandatory, and I often felt obliged to be performative.

I still remember where the unease came from. I’d known quite a bit about how massive the climate crisis was and how deeply it’s tied to systems that were already failing us in the Global South. Basically, we’re just trying to survive the climate crisis and all other symptoms of unjust, oppressive systems, in an economy that limits our choices (do you know how insufferable it is to commute in Metro Manila, how dangerous it could be to bike, or how largely inaccessible and expensive plant-based meals are?) And yet somehow, we are the ones expected to go the extra mile to save the planet? That didn’t sit right with me.

This conflictedness only deepened as I learned more about the “grand narrative of guilt” pushed by corporations. These are tropes that are, when placed alongside reality, paradoxical at best (think recycling and carbon footprints — when only 9% of plastic waste has ever been recycled, and just 57 companies were responsible for 80% of global fossil fuel and cement-related CO₂ emissions from 2016 to 2022).

There should be no doubt that these narratives were designed to deflect responsibility for corporations’ massive environmental, social, cultural, and economic impacts and shift the attention onto us instead. After years of exposure, this messaging sticks in one’s head like the voice of a controlling, gaslighting ex: How much plastic packaging is in that bag of groceries? Was that vacation really worth the environmental cost of flying? You say you care about the planet, so why are you still eating meat?

Surely we wouldn’t want to play into the corporate guilt-tripping narrative. At one point, I wondered if the best act of defiance might be to live our most convenient lives unapologetically and focus all our energy on actions that more directly contribute to driving system change. By this, I mean civic and public engagement efforts such as signing petitions, joining protests, or voting for environmentally conscious leaders.

Yet one of our constant reminders at Greenpeace is this: every action counts. And each time I am reminded, I don’t doubt it. Perhaps because even though I know the narrative of individual responsibility is marred by greedy intentions, it still wouldn’t feel right to dismiss personal action completely. I’ve seen small actions spark change in people again and again, from a community leader forming a flood response group, to a youth activist organizing artivism workshops or meetups for exchanging climate stories.

Over time, I realized personal actions are not meant to carry the weight of the world, just as they’re not the end goal. Even so, when done consistently and taken as part of something larger, they are powerful and can push the needle toward systemic change, in more ways than one. Here are some little epiphanies on my end:

Habits can start or hasten culture shifts. Everyday habits like refusing single-use plastic, choosing to bike to work, or eating less meat can shift culture. Culture shifts don’t always have to start in boardrooms or policy halls. In fact, they usually begin in communities, where an individual or a group quietly leads by example, and challenges what’s normal.

A gateway to deeper engagement. Lifestyle shifts can lead to deeper involvement in the advocacy, especially as people seek like-minded friends and learn more about the issues. And the more they know about the campaigns, the more confident they become and the more willing to share their time and energy to the cause.

Walking the talk as a strategy. For many of us in environmental campaigning, walking the talk is not just a moral stance. It is a strategic choice that strengthens our credibility and demonstrates integrity. It shows that our demands for change are reflected in the way we live and act. This kind of alignment matters, and is also why we call on the national government to turn their climate pronouncements on the international stage into consistent and concrete action at home.

Igniting creative resistance. The saying “necessity is the mother of invention” holds true in movement building as well. When faced with challenges, including environmental ones, people find ways to be resourceful. They collaborate, adapt, and respond. And whether intentionally or not, many end up contributing through the skills, talents, and tools they have in support of collective action.

Reclaiming identity through agency. Realizing one’s agency often begins at a personal level. Along the way, individual actions can become a means to reconnect with culture and history, to affirm one’s values, and to commit to the kind of person one aspires to be. It also becomes a way of unlearning environmentally harmful practices promoted by corporations. For example, sari-sari store (small neighborhood store) owners who joined Greenpeace’s Kuha Sa Tingi project reconnected with the original Filipino “tingi” culture (the practice of buying goods in small, affordable, quantities) through reuse and refill systems.

Making power listen. Collective personal actions can create pressure for decision-makers, institutions, and even corporations to act. They may not replace structural change, but they send clear signals, if not outright communicate, public demand for solutions which in due course can unlock systemic change.

You might want to check out Greenpeace Philippines’ petition called Courage for Climate, a drive in support of real policy and legal solutions in the pursuit of climate justice.

Courage for Climate

The climate crisis may seem hopeless, but now is the time for courage, not despair. Join Filipino communities taking bold action for our planet.

Make an Act of Courage Today!

MIL OSI NGO –

June 5, 2025
MIL-OSI USA: Markey, Leader Schumer, Wyden, Merkley Seek Information on Republican Reconciliation Bill’s Potential to Close Rural Hospitals
US Senate News:
Source: United States Senator for Massachusetts Ed Markey

Letter Text (PDF)

Washington (June 4, 2025) – Senator Edward J. Markey (D-Mass.), a member of the Health, Education, Labor, and Pensions (HELP) Committee, Democratic Leader Chuck Schumer (D-N.Y), Senator Ron Wyden (D-Ore.), Ranking Member of the Finance Committee, and Senator Jeff Merkley (D-Ore.), Ranking Member of the Budget Committee, today wrote to Mark Holmes, PhD, Director of the Cecil G. Sheps Center for Health Services Research at the University of North Carolina at Chapel Hill, requesting analysis of the impact of House Republicans’ budget bill’s proposed cuts to federal spending on health programs, on rural hospitals, and their surrounding communities.

In the letter the lawmakers write, “The independent, nonpartisan Congressional Budget Office estimates this bill and other regulatory actions by the Trump administration will lead to nearly 14 million Americans losing their health insurance and shifting billions of dollars in health care costs to states. In short, the House-passed budget reconciliation bill is expected to have substantial and devastating impacts to health care access for working families across America, particularly in rural communities. We are deeply concerned that these cuts will increase uncompensated care and make it more difficult for rural hospitals to continue providing services to all patients, paying workers, and keeping their doors open.”

The lawmakers continue, “The magnitude of federal cuts to health programs will inevitably devastate health access for millions of Americans who will see their local hospitals forced to reduce services or close altogether. To help us better understand the devastation of these cuts, we are interested in the Sheps Center’s expert analysis of how this bill will impact rural hospitals and the communities they serve.”

The lawmakers request responses to the following questions by June 11, 2025:
1. Which U.S. rural hospitals treat the highest share of Medicaid recipients? Please identify these hospitals by name, state, and congressional district.
1. How many rural hospitals are currently in financial distress or at risk of closure? Please identify these hospitals by state and congressional district and whether these hospitals are eligible for any Medicare rural hospital designation.
1. If the health care cuts in the House-passed budget reconciliation bill were to become law, would the rural hospitals with the highest share of Medicaid recipients or that are currently in financial distress face risk of closure or having to reduce services (including obstetric and behavioral health care, emergency room services, etc.)
MIL OSI USA News –
June 5, 2025
MIL-OSI USA: Sen. Markey, Rep. Cohen Introduce Legislation to Make America’s Streets Safer for Everyone

US Senate News:

Source: United States Senator for Massachusetts Ed Markey

Bill Text (PDF)

Washington (June 4, 2025) – Senator Edward J. Markey (D-Mass.), a member of the Senate Commerce, Science, and Transportation Committee, and Representative Steve Cohen (TN-09), a senior member of the House Transportation and Infrastructure Committee, today reintroduced the Complete Streets Act, which would transform America’s public roads. The bill would require states to direct a portion of their federal highway funding toward the creation of a Complete Streets Program. A “Complete Street” provides safe and accessible transportation options for children, seniors, and people with disabilities by prioritizing infrastructure for pedestrians, bicyclists, and public transit users. The bill would also require future construction projects on public roads to be designed for the safety of all its road users.

“The skyrocketing number of pedestrian and cyclist deaths in our country is a crisis. This moment calls for us to ensure our roads are designed with safety – not speed – as our top priority,” said Senator Markey. “I am grateful for Representative Cohen’s partnership to ensure we prioritize roadway safety and accessibility over a reliance on fast, fossil-fueled vehicles. Let’s build complete streets and complete communities and accelerate into a safer, more accessible future for all.”

“In recent years, we have seen a dramatic increase in the number of pedestrians killed by vehicles, especially in Memphis. Our country is seeing a national safety crisis on our roads. We need streets that can accommodate all means of transportation, from foot traffic and strollers to bicycles, scooters, cars, light trucks and 18-wheelers. The Complete Streets Act will transform communities and make it safer for everyone to make ‘complete’ use of our roadways and adjacent infrastructure,” said Congressman Cohen.

The Complete Streets Act is cosponsored in the Senate by Senators Richard Blumenthal (D-Conn.), Raphael Warnock (D-Ga.), Brian Schatz (D-Hawaii), and Martin Heinrich (D-N.M.), and in the House by Representatives Jake Auchincloss (MA-04), Adriano Espaillat (NY-13), Valerie Foushee (NC-04), and Dina Titus (NV-01).

Under the Complete Streets Act, eligible local and regional entities can use funds from their state’s Complete Streets Program for technical assistance and capital funding to build safe street projects such as sidewalks, bike lanes, crosswalks, and bus stops. The legislation would also phase in a requirement for states to incorporate Complete Streets elements into all new construction and reconstruction.

The legislation is endorsed by the National Complete Streets Coalition, Transportation for America, Advocates for Highway and Auto Safety, GreenLatinos, and the League of American Bicyclists.

Senator Markey and Representative Cohen first introduced the Complete Streets Act in 2019. Elements of the Complete Streets Act were incorporated into the Infrastructure Investment and Jobs Act which created the Safe Streets for All grant program. In 2024, Massachusetts received $25 million in funding from the Safe Streets for All program to make roads safer in communities like Lynn, Boston, Fitchburg, and Haverhill.

MIL OSI USA News –

June 5, 2025
MIL-OSI USA: UConn School of Pharmacy Makes Major Push to Raise Pharmaceutical Industry Career Awareness

Source: US State of Connecticut

During the 2024-2025 academic year, the UConn School of Pharmacy fielded a team that placed sixth out of 70 schools or college of pharmacy nationally in the annual Industry Pharmacists Organization (IPhO). The competition is based on a group of students from a school or college of pharmacy working together at a mock pharmaceutical company to submit a plan to launch a brand-new drug onto the US market. This is even more impressive since the UConn School of Pharmacy is in the 30^th percentile for class sizes nationally.

Lahar Miriyapalli helped lead the UConn student group and says, “This year, we had an incredible team of 35 participants, led by my amazing functional area co-leads: Brian Portela, Caitlin Raimo, Rachel Antonelli, Mona El-Mouwfi, and Melinda Fan. The competition gives students a chance to build real-world skills and present information the way a pharmaceutical company would. It’s a great way to explore the roles and responsibilities within the industry and gives us the chance to practice some of the key functions these companies carry out.”

This success coincides with the release of a new elective course “Pharmaceutical Industry Fundamentals for Pharmacists,” where pharmaceutical industry experts across the country participated as panelists discussing the roles and responsibilities of pharmacists in areas such as medical communications, pharmacoeconomics, pharmacometrics, regulatory affairs, medical affairs, and research and development. Student also learned about how to position themselves for success in an industry-based career through specialized summer internships, advanced pharmacy practice experiences, and industry fellowships as well as specialized opportunities at the UConn School of Pharmacy including independent research, leadership tracks, and assuming executive board positions in pharmacy organizations. On April 15, 12 of our pharmaceutical industry panelists came to the School of Pharmacy for a half day in person event where they met with students in rotating small groups to provide individual mentorship, review CVs and cover letters, and discuss the value of networking. Students were so appreciative of being able to tap into the expertise of these mentors.

Dr Amy Antipas ’89 discusses research and development with students (C. Michael White / UConn School of Pharmacy Photo).

UConn student Emma Bourgeois said, “Getting the chance to speak with a panel of professionals from various functional areas was truly eye-opening. I was so thankful to receive personalized CV feedback and thoughtful mentorship about pursuing a career in the pharmaceutical industry from professionals who once were in our shoes. The panelists made it evident that building meaningful connections and learning how to network professionally can open doors to future opportunities.”

Even the mentors were personally impacted by meeting with the students. Dr. Margaret Essex commented that, “it is invigorating to work with the next generation of pharmacy professionals. Because of their genuine interest, it is a joy to mentor them about career paths that they may not have imagined.”

The industry pharmacist participants included: Amy Antipas, BS Pharmacy, MS, PhD (Pfizer Inc.), Margaret Essex, BS, Pharm.D., FCPP (Pfizer Inc. retired), Walter McClain, BS, PharmD, MBA, (Pfizer Inc. retired), Carren Jepchumba, Pharm.D. (Eli Lilly), Mary Inguanti, BS, MPH, FACHE (Becton Dickinson), Marie Smith, Pharm.D. (UConn), Amanda Idusuyi, Pharm.D. (Sanofi), Mirina Li, Pharm.D., MS (Adaptive Biotechnologies), Steve Riley, Pharm.D., PhD. (Pfizer Inc.), Chris Tanksi, Pharm.D., MPH, BCCP, BCPS (Pfizer Inc.), Andrew Vilcinskas, Pharm.D. (Sanofi).

Carl Possidente, Pharm.D., a recent retiree from Pfizer, helped to create and coordinate the course with C. Michael White, Pharm.D., Distinguished Professor and Chair of Pharmacy Practice. Dr Possidente says that “During my career I have enjoyed educating pharmacists and health care professionals. It has been rewarding to help students learn about career options within the pharmaceutical industry.”

Dr White says that “Dr Possidente provides the insider’s perspective that I would not be able to replicate if I were doing this course alone. There is a special gravitas that comes from succeeding in the pharmaceutical industry space for so long that cannot be replicated in any other way. His insider view and the insights from so many talented alumni and friends of the UConn School of Pharmacy is what makes this course unique.”

Dr Amanda Idusuyi ’23 discusses marketing and drug information with students (C. Michael White / UConn School of Pharmacy Photo).

Aside from competition placement, another marker of success is how many students are accepted into highly competitive pharmaceutical industry fellowships. Starting in the summer of 2025, seven recent UConn graduates will join these training programs.

Graduating student Rohan Kantesaria says, “Industry fellowships are highly competitive, with a rigorous application process that spans several months. UConn does a great job preparing us for this path through a variety of resources. From guest speakers who share their journeys in the pharmaceutical industry, to a strong alumni network eager to support us, and timely CV reviews and mock interviews, the support has been incredibly helpful. I’m very fortunate to have this strong support system of faculty and peers while navigating this process.”

One way for students to get inside experience in the pharmaceutical industry is through Advanced Pharmacy Practice Experiences. These one-month rotations allow students to be immersed in a pharmaceutical company every day under the supervision of a pharmacist specialist at the company. Overall, 21 students secured either a one- or two-month industry rotation at eight different companies.

MIL OSI USA News –

June 5, 2025
MIL-OSI USA: Disaster Recovery Center Relocated in Butler County

Source: US Federal Emergency Management Agency 2

strong>FRANKFORT, Ky. –A Disaster Recovery Center has been relocated in Butler County to offer in-person support to Kentucky uninsured and underinsured survivors who experienced loss as the result of the April severe storms, straight-line winds, flooding, landslides and mudslides. The new Disaster Recovery Center in Butler County is located at:

Morgantown Elementary School, 210 Cemetery St., Morgantown, KY 42261
Working hours are 9 a.m. to 7 p.m. Central Time, Monday through Saturday and 1 – 7 p.m. Central Time, Sunday.
Disaster Recovery Centers are one-stop shops where you can get information and advice on available assistance from state, federal and community organizations. You can get help to apply for FEMA assistance, learn the status of your FEMA application, understand the letters you get from FEMA and get referrals to agencies that may offer other assistance. The U.S. Small Business Administration representatives and resources from the Commonwealth are also available at the Disaster Recovery Centers to assist you.
FEMA is encouraging Kentuckians affected by the April storms to apply for federal disaster assistance as soon as possible. The deadline to apply is June 25.
You can visit any Disaster Recovery Center to get in-person assistance. No appointment is needed. To find all other center locations, including those in other states, go to fema.gov/drc or text “DRC” and a Zip Code to 43362.
You don’t have to visit a center to apply for FEMA assistance. There are other ways to apply: online at DisasterAssistance.gov, use the FEMA App for mobile devices or call 800-621-3362. If you use a relay service, such as Video Relay Service (VRS), captioned telephone or other service, give FEMA the number for that service.
When you apply, you will need to provide:

A current phone number where you can be contacted.
Your address at the time of the disaster and the address where you are now staying.
Your Social Security Number.
A general list of damage and losses.
Banking information if you choose direct deposit.
If insured, the policy number or the agent and/or the company name.

For more information about Kentucky flooding recovery, visit www.fema.gov/disaster/4860 and www.fema.gov/disaster/4864. Follow the FEMA Region 4 X account at x.com/femaregion4.

MIL OSI USA News –

June 5, 2025
MIL-OSI USA: US Department of Labor and Adidas America reach settlement for $235K in penalties resolving fall hazard and unsafe ladder violations

Source: US Department of Labor

ALBANY, NY – The U.S. Department of Labor has entered into a settlement agreement with Adidas America Inc. that requires the company to pay $235,000 in fines and implement enhanced safety measures at multiple facilities.

The agreement comes after the department’s Occupational Safety and Health Administration conducted a 2024 follow-up inspection at an Adidas warehouse in upstate New York. OSHA initially cited for hazards in 2021 during an inspection that found missing guardrails and an unsafe ladder.

Inspectors returned in 2024 to find that Adidas had not corrected the hazards cited in 2021 and found an additional unsafe ladder violation.

The May 30, 2025, settlement requires Adidas to implement enhanced abatement measures at its facilities in New York, New Jersey, and Puerto Rico, including adopting a comprehensive Safety and Health Management program, retraining employees on fall hazards, assessing and auditing potential fall hazards at each facility, and discontinuing use of overhead storage in the facilities.

Adidas also agreed to pay $235,000 in penalties.

Adidas America Inc. is a subsidiary of Adidas AG, an athletic apparel and footwear corporation headquartered in Herzogenaurach, Bavaria, Germany.

OSHA’s Warehousing page provides solutions to prevent injuries from hazards including forklifts, slips, trips and falls and materials handling. The agency’s stop falls website offers safety information and video presentations in English and Spanish to teach workers about fall hazards and proper safety procedures.

Learn more about OSHA.

MIL OSI USA News –

June 5, 2025
MIL-OSI USA: Public Sector Workers Demand Fix to Healthcare Affordability Crisis

Source: Communications Workers of America

TRENTON, N.J. – Thousands of public sector and State workers gathered at the New Jersey State House Annex today to deliver a message to state lawmakers to put a stop to skyrocketing healthcare costs for New Jersey’s public sector workforce.

Since 2022, healthcare premiums for State workers have increased by 40% while local government workers have seen a 59% compounded increase. The premium increases are putting a huge strain on workers and on the healthcare system itself and are a key driver of the affordability crisis in New Jersey. A typical local government employee earning $65,000 is currently paying over $8,000 for a family plan. With the most recent increases in premiums, that same employee is paying almost $9,500 for that same plan in 2025, effectively eliminating any negotiated salary increase.

A coalition of labor unions, including the Communications Workers of America (CWA), the New Jersey State AFL-CIO, AFSCME NJ, AAUP-AFT, AFT New Jersey, the Council of New Jersey State Colleges, URA-AFT, HPAE, IFPTE, and others, is fighting for legislation to make healthcare more affordable, require fair pricing for healthcare services, and improve the governance and transparency of the State healthcare plan.

“New Jersey’s public sector workers keep our state running every single day, and they should not be punished with unaffordable healthcare costs,” said Dennis Trainor, CWA District 1 Vice President. “It’s time for lawmakers to take real action to rein in healthcare profiteering and deliver the affordability, transparency, and accountability that public workers—and all New Jerseyans—deserve.”

Public sector union workers are fighting for common-sense cost control and solutions like claims auditing, enforcing existing contracts with insurance carriers, and fair pricing that would rein in the costs of care overall, generating enormous savings for the State, local governments, and workers.

“What’s not to like about this proposal?” asked New Jersey State AFL-CIO President Charles Wowkanech. “It has produced massive savings in other states and could save New Jersey taxpayers $1.1 billion annually. It helps to control ever-increasing property taxes by slowing down out-of-control increases in health insurance premiums for public employees. It provides much-needed relief to workers who, during a time of historic inflation, are seeing every penny of their raises get eaten up by double-digit increases in health insurance premiums. Considering the dire condition of the State Health Benefits Plan, I urge the legislature to pass this bill now,” he concluded.

“When we say healthcare, we mean justice. I stand with my brothers and sisters because together, we can make healthcare affordable, accessible, and equitable for everyone,” said Assemblywoman Verlina Reynolds-Jackson (District 15). “No one should have to choose between getting treatment and paying the mortgage, the rent, or the light bill. That’s why I show up. That’s why I fight! Let’s END Chapter 78 TOGETHER!”

“Healthcare costs in New Jersey have skyrocketed, and proposed federal Medicaid cuts would rip away healthcare from hundreds of thousands of New Jerseyans—especially children, seniors, and people with disabilities,” said Assemblyman Cody Miller (District 4). “No one should have to choose between putting food on the table and paying for their medicine or doctor’s visit. That’s why we’re fighting to pass legislation that puts patients before profits. We can make New Jersey a leader in affordable, quality healthcare for every resident.”

“The ever-increasing healthcare costs have devastating financial and emotional effects for our members in the State Benefits Health Program. New Jersey’s working families deserve better. Reference-based pricing in healthcare will provide a fair-market standard that ensures transparency, cost reduction, affordability, and quality healthcare,” said Susanna Tardi, Ph.D., the Executive Vice President of Higher Education, AFTNJ.

“The State needs to embrace the common-sense reforms that public sector unions have been offering for years,” said Steve Tully, AFSCME NJ Executive Director. “These reforms will ensure the long-term stability of the State Health Benefits Plan while making healthcare more affordable for workers and the taxpayers.”

“Healthcare is a human right, and New Jersey public workers need high-quality, affordable coverage to safeguard our health and the rest of the state,” said Christine O’Connell, President of the Union of Rutgers Administrators-American Federation of Teachers, Local 1766. “Public workers have provided countless practical solutions to lower healthcare costs. These common-sense reforms are reflected in the legislative proposal we are calling for today, which is fair for workers, good for the public, and will serve the state more efficiently and effectively than plans being developed by health insurance companies generating profit by denying preventative and necessary medical care.”

“Across New Jersey’s public colleges and universities, faculty—both full-time and part-time—dedicate themselves to the mission of higher education, often contingent workers putting in hours that match or exceed full-time roles. Yet too many are now forced to choose between keeping their healthcare and paying their bills. Premiums in the State Health Benefits Program have surged, putting enormous pressure on those who already qualify while leaving others, like adjunct faculty, completely priced out of access,” said Tom Raggio, Rutgers Adjunct Faculty Union. “Healthcare is not a luxury. It is a human right. This crisis exposes the broken structure of a system where workers who serve our students and institutions are either burdened by unaffordable costs or locked out entirely. We need bold reform—one that not only reins in rising premiums but ensures that all faculty, including adjuncts, are eligible for quality, affordable healthcare based on the work they do—not based on their ability to buy into the system at an unsustainable cost.”

“This legislation seeks to contain consumer pricing with no reduction in benefits, while increasing oversight and transparency at minimal cost to the state,” said HPAE President Debbie White. “It would help contain the spiraling costs of health insurance for our public workers.“

###

About CWA: The Communications Workers of America represents working people in telecommunications, customer service, media, airlines, health care, public service and education, manufacturing, tech, and other fields.

cwa-union.org @cwaunion

MIL OSI USA News –

June 5, 2025
MIL-OSI Security: Coast Guard oversees fuel removal efforts from grounded vessel on Icacos Beach, Puerto Rico

Source: United States Coast Guard

06/04/2025 03:27 PM EDT

Coast Guard Sector San Juan Incident Management personnel, working in consultation with local and federal environmental agencies, are overseeing efforts by specialized companies, Wednesday, to remove a pollution threat from a recreational vessel which grounded ashore on Icacos Beach in Yabucoa, Puerto Rico, Monday. There were no injuries reported or signs of pollution in the water, however, the vessel owner reported there were approximately 110 gallons of gasoline onboard. The Coast Guard is investigating the circumstances that led to this vessel grounding.

For more breaking news follow us on Twitter and Facebook.

MIL Security OSI –

June 5, 2025

Key Metrics	May 2025
BTC Mined¹	179
BTC Sold	64
BTC Held²	966
Deployed Mining Rigs	75,000
Month End Operating Hashrate (EH/s)	13.5
Month End Fleet Efficiency (J/TH)	18.9

Category: Business

What’s in a music catalogue?

Swift’s contracts

Subsequent sales

Successful futures

School lunches are important

The problem with BYO lunchboxes

School meals programs in Australia

What would it take to introduce school meals?

National screening is working

How about younger adults?

What’s driving this increase?

What can people do to reduce their risk?

How Australia’s gas contributes to climate change

1. Barossa Gas Project

2. Scarborough Pluto Train 2

3. Surat Phase 2

4. Narrabri Gas Project

5. Beetaloo Basin

6. Browse Basin

A major disconnect