Category: Business

  • MIL-OSI: Viva Gold to Present at the Precious Metals & Critical Metals Hybrid Investor Conference on May 22nd

    Source: GlobeNewswire (MIL-OSI)

    VANCOUVER, British Columbia, May 19, 2025 (GLOBE NEWSWIRE) — Viva Gold Corp (TSXV: VAU, OTCQB: VAUCF) (“Viva,” or the “Company”), the 100% owner and developer of the Tonopah Gold Project in Nevada, today announced that the Company’s Chief Executive Officer Jim Hesketh will present live at the Precious Metals & Critical Metals Hybrid Investor Conference, hosted by VirtualInvestorConferences.com, on May 22nd , 2025.

    DATE: May 22nd, 2025
    TIME: 9:30 AM EDT
    LINK: REGISTER HERE

    This will be a live, interactive in-person and online event where investors are invited to ask the company questions in real-time. If you would like to attend in-person, please email johnv@otcmarkets.com for an attendee pass. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available after the event.

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

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

    Recent Company Highlights

    • Successful drilling campaigns that continue to deliver high gold grades at shallow depths
    • Several meaningful catalysts on the horizon, including an updated resource and Preliminary Economic Analysis study
    • Viva plans to begin feasibility work and commence the 12-month permitting process later this year


    About Viva Gold Corp.

    The Tonopah project sits in the middle of gold mining country about a half hour drive south of the Round Mountain mine owned by Kinross Gold and controls a major land position on the prolific Walker Lane Trend in Western Nevada. Viva has built a high confidence gold mineral resource at Tonopah since commencing work in 2018. The Company plans to update the resource model and initiate feasibility study in 2025, both of which are major catalysts and value creation events for shareholders.

    Viva Gold is led by CEO James Hesketh, a 40-year veteran in the mining space who has led the development and construction of eight other mines around the world throughout his career. James has surrounded himself with equally experienced mining professionals both on the management team and the board.

    The Tonopah Gold Project, a potential open pit, heap leach/mill opportunity, has all the hallmarks of a successful mining development project with early access to high grade mineralization, tested gold recovery, and key infrastructure in place. The project is supported by compelling economic PEA study.

    Viva Gold trades on the TSX Venture exchange “VAU”, on the OTCQB “VAUCF” and on the Frankfurt exchange “7PB”. Viva currently has ~145.5 million shares outstanding and boasts a best-in-class management team and board with decades of gold exploration and production experience. The Company is advancing its high-grade Tonopah Gold Project in mining friendly Nevada with the support of several institutional shareholders. More information can be found on https://www.sedarplus.ca and please visit our website: www.vivagoldcorp.com.

    Viva is committed to developing the Tonopah Gold Project in an environmentally and socially responsible fashion. These values are aligned with management’s core values and permeate throughout our decision-making process.

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

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

    Neither 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.

    CONTACTS:

    James Hesketh, President & CEO
    (720) 291-1775
    jhesketh@vivagoldcorp.com

    Graham Farrell, Investor Relations
    (416) 842-9003
    graham.farrell@vivagoldcorp.com

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

    The MIL Network

  • MIL-OSI: Form 8.3 – [CRANEWARE PLC – 16 05 2025] – (CGWL)

    Source: GlobeNewswire (MIL-OSI)

    FORM 8.3

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

    1.        KEY INFORMATION

    (a)   Full name of discloser: CANACCORD GENUITY WEALTH LIMITED (for Discretionary clients)
    (b)   Owner or controller of interests and short positions disclosed, if different from 1(a):
            The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.
    N/A
    (c)   Name of offeror/offeree in relation to whose relevant securities this form relates:
            Use a separate form for each offeror/offeree
    CRANEWARE PLC
    (d)   If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: N/A
    (e)   Date position held/dealing undertaken:
            For an opening position disclosure, state the latest practicable date prior to the disclosure
    16 MAY 2025
    (f)   In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
            If it is a cash offer or possible cash offer, state “N/A”
    N/A

    2.        POSITIONS OF THE PERSON MAKING THE DISCLOSURE

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

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

    Class of relevant security: 1p ORDINARY
      Interests Short positions
    Number % Number %
    (1)   Relevant securities owned and/or controlled: 1,714,350 4.8415    
    (2)   Cash-settled derivatives:        
    (3)   Stock-settled derivatives (including options) and agreements to purchase/sell:        
    TOTAL: 1,714,350 4.8415    

    All interests and all short positions should be disclosed.

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

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

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

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

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

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

    (a)        Purchases and sales

    Class of relevant security Purchase/sale Number of securities Price per unit
    1p ORDINARY SALE 420 2235p
    1p ORDINARY SALE 300 2242.5p
    1p ORDINARY SALE 315 2259p
    1p ORDINARY SALE 300 2267p
    1p ORDINARY PURCHASE 860 2188.4999p
    1p ORDINARY PURCHASE 4,490 2189.2999p
    1p ORDINARY PURCHASE 3,000 2225p
    1p ORDINARY PURCHASE 3,600 2232.109p

    (b)        Cash-settled derivative transactions

    Class of relevant security Product description
    e.g. CFD
    Nature of dealing
    e.g. opening/closing a long/short position, increasing/reducing a long/short position
    Number of reference securities Price per unit
    NONE        

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

    (i)        Writing, selling, purchasing or varying

    Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type
    e.g. American, European etc.
    Expiry date Option money paid/ received per unit
    NONE              

    (ii)        Exercise

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

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

    Class of relevant security Nature of dealing
    e.g. subscription, conversion
    Details Price per unit (if applicable)
    NONE      

    4.        OTHER INFORMATION

    (a)        Indemnity and other dealing arrangements

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

    NONE

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

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

    NONE

    (c)        Attachments

    Is a Supplemental Form 8 (Open Positions) attached? NO
    Date of disclosure: 19 MAY 2025
    Contact name: MARK ELLIOTT
    Telephone number: 01253 376539

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

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

    The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

    The MIL Network

  • MIL-Evening Report: Former Canberra diplomat Ali Kuzak dies on the way to Palestine

    Ali Kazak: born Haifa, 1947; died May 17 2025, Thailand

    By Helen Musa in Canberra

    Former Palestinian diplomat and long-time Canberra identity Ali Kazak died on Saturday en route to Palestine.

    Sources at the Canberra Islamic Centre report that he was recovering from heart surgery and died during a stopover in Thailand.

    Kazak was born in Haifa in 1947 and grew up in Syria as a Palestinian refugee. He and his mother were separated from his father when Israel was created in 1948 and Kazak was only reunited with his father in 1993.

    In 1968, while at Damascus University, Kazak had been invited to join the Palestine National Liberation Movement (Fateh) and joined its political wing.

    He migrated to Australia in 1970 where he became the founder, publisher and co-editor of the Australian newspaper, Free Palestine, also authoring among many books, The Jerusalem Question and Australia and the Arabs.

    Kazak was the driving force behind the establishment in 1981 of the Palestine Human Rights Campaign and was appointed by the PLO executive committee as the PLO’s representative to Australia, NZ and the Pacific region.

    In 1982, he established the Palestine Information Office, which was recognised by the Australian government in 1989 as the office of the Palestine Liberation Organisation, and then further recognised in 1994 as the General Palestinian Delegation.

    As Palestinian Ambassador, Kazak initiated the establishment of the NSW State and Australian Federal Parliamentary Friends of Palestine, as well as the Victorian, South Australian and NZ Parliamentary Friends of Palestine.

    Always a passionate advocate, in 1986 he became the first person to call for adjudication by the Australian Press Council of stereotyped reporting of Palestinians.

    After retiring from diplomacy, he became the managing director of the consultancy company Southern Link International, but continued to comment on Palestinian affairs and Gaza.

    His most recent article was published in the Pearls and Irritations: John Menadue’s Public Policy journal on May 16, titled The third Nakba in Israel’s war of genocide: Why does the Albanese government shirk its responsibility?

    Arrangements are being made to return his body from Thailand to Australia for internment.

    Helen Musa is the Canberra City News arts editor. This article was first published by City News.

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI Video: G20 Breakfast-Round Table on the Empowerment of Women and Disability Inclusion in the Banking Sector

    Source: Republic of South Africa (video statements-2)

    DWYPD hosts G20 Breakfast-Round Table on the Empowerment of Women and Disability Inclusion in the Banking Sector

    https://www.youtube.com/watch?v=gFpQF5QtQa0

    MIL OSI Video

  • MIL-OSI United Kingdom: Family Fun day set to celebrate community at Fratton Bridge Centre

    Source: City of Portsmouth

    Portsmouth City Council, through its Business Enterprise Centres, is thrilled to invite residents to a Fratton Family Fun day. This event is a free celebration of community taking place on Saturday 24 May from 11am–3pm at Fratton Bridge Centre which has recently undergone a refurbishment.

    This family event will take over Fratton Bridge Centre and includes Punch & Judy, a mesmerizing magic show, and craft activities alongside face painting, community performances, local history and gaming sessions.  Families are also invited to help create an art installation that will celebrate Fratton’s community.

    The event marks a milestone in the transformation of Fratton Bridge Centre, which was acquired by the Council in September 2023 with support from the Government’s Future High Streets Fund. The centre has since undergone refurbishment, including upgrades to retail spaces, a new welcoming entrance, and the arrival of new businesses and community organisations such as The Pompey Cycle Hub, Fratton Together, the Parenting Network, and the Electric Dreamz interactive technology exhibition centre.

    Cllr Steve Pitt, Leader of the council with responsibilities for economic development said:

    “The refurbishment has re-energised Fratton Bridge Centre.  By working together with community and local business we are committed to revitalising our high streets.  Events like the Fratton Family Fun Day are a great way to bring people together and celebrate the positive changes happening in our city.”

    The refurbishment of Fratton Bridge Centre is part of a wider regeneration effort to enhance the area through improvements to the high street and investments in new homes and employment opportunities.

    Fratton Family Fun is a free event. For programme details visit rediscoverportsmouth.co.uk/fratton-bridge

    MIL OSI United Kingdom

  • MIL-OSI: Duck Creek Technologies Announces Tyler Jones as Chief Marketing Officer

    Source: GlobeNewswire (MIL-OSI)

    BOSTON, May 19, 2025 (GLOBE NEWSWIRE) — Duck Creek Technologies, the global intelligent solutions provider defining the future of property and casualty (P&C) and general insurance, announces the appointment of Tyler Jones as Chief Marketing Officer (CMO). As CMO, Jones will be responsible for overseeing Duck Creek’s strategic marketing and branding efforts, driving the company’s global expansion and leadership as a provider of P&C insurance software and services.

    “Tyler is a seasoned marketer and leader who understands how to deliver value to our customers and partner ecosystem,” said Mike Jackowski, Chief Executive Officer of Duck Creek Technologies. “He has a wealth of experience building and scaling world-class marketing organizations for cloud-based software companies. I am thrilled to welcome him to the Duck Creek team and look forward to working with him to accelerate our growth and expand our market leadership.”

    With over two decades of experience at the intersection of technology, insurance, and customer experience, Tyler joins Duck Creek from CLARA Analytics, where he led growth initiatives and commercial partnership programs that drive the adoption of AI-powered solutions.

    “I am honored and excited to join Duck Creek at this pivotal time in the insurance industry,” said Tyler Jones. “Duck Creek is a visionary company that is transforming the way insurers operate and serve their customers. I am impressed by the company’s culture, products, and customer-centric approach. I look forward to collaborating with the talented Duck Creek team and partners to amplify our brand, engage our audiences, and drive business outcomes.”

    Tyler held pivotal roles at Kaiser Permanente and AIG, where he spearheaded large-scale digital transformations. At Kaiser Permanente, he led a $250 million multiyear overhaul of the revenue cycle and consumer medical billing systems. As Global Head of Data Strategy at AIG, he focused on leveraging data to inform strategic decisions and enhance customer experiences.

    At CLARA Analytics, Tyler continued to drive customer-centric strategies, ensuring that clients achieved optimal value from the company’s AI platform. His leadership was instrumental in CLARA’s mission to deliver compelling ROI to customers within months of implementation.

    Jones holds an undergraduate degree in marketing from the University of Utah and a Master of Business Administration from the UCLA Anderson School of Management.

    About Duck Creek Technologies
    Duck Creek Technologies is the global intelligent solutions provider defining the future of the property and casualty (P&C) and general insurance industry. We are the platform upon which modern insurance systems are built, enabling the industry to capitalize on the power of the cloud to run agile, intelligent, and evergreen operations. Authenticity, purpose, and transparency are core to Duck Creek, and we believe insurance should be there for individuals and businesses when, where, and how they need it most. Our market-leading solutions are available on a standalone basis or as a full suite, and all are available via Duck Creek OnDemand. Visit www.duckcreek.com to learn more. Follow Duck Creek on our social channels for the latest information – LinkedIn and X.

    Media Contacts:
    Marianne Dempsey/Tara Stred
    duckcreek@threeringsinc.com

    The MIL Network

  • MIL-OSI: BIO-key and Cloud Distribution Co. Partner to Expand IAM and Biometric Security Solutions Across the Middle East

    Source: GlobeNewswire (MIL-OSI)

    WALL, N.J. and RIYADH, Saudi Arabia, May 19, 2025 (GLOBE NEWSWIRE) — BIO-key International, Inc. (NASDAQ: BKYI), a global leader in Identity and Access Management (IAM) and biometric authentication solutions, is pleased to announce a strategic partnership with Cloud Distribution Co., a prominent Value-Added Distributor (VAD) headquartered in Saudi Arabia, with operations across the Middle East. Cloud Distribution joins BIO-key’s Channel Alliance Partner (CAP) program to deliver BIO-key’s full suite of IAM and biometric authentication solutions to enterprises and public institutions in Saudi Arabia, the UAE, and across the region. This partnership strengthens BIO-key’s local capabilities while enabling Cloud Distribution to expand its cybersecurity portfolio with innovative, high-impact identity technologies.

    As part of this strategic collaboration, Cloud Distribution Co. has committed dedicated in-country resources to support BIO-key’s expansion in the region. A Pre-Sales Engineer, a Business Development Manager (BDM), and a Project Manager—based in Riyadh—will be part of Cloud Distribution’s team fully focused on BIO-key. This investment reflects Cloud Distribution’s clear bet on BIO-key’s growth and long-term value in the Middle East market, ensuring local expertise, responsive support, and successful deployments.

    Cloud Distribution will lead sales enablement, partner development, and technical execution for the following BIO-key technologies:

    • PortalGuard® – a comprehensive IAM platform supporting MFA, SSO, and centralized access management
    • Passkey:YOU™ – a FIDO2-compliant passwordless solution
    • PIN:You™ – a secure, tokenless, user-friendly PIN-based authentication method
    • WEB-key – a proven biometric engine for strong authentication
    • Identity-Bound Biometrics (IBB) – binding access to the individual, not the device
    • Certified biometric scanners including PIV-Pro and EcoID II

    “We are proud to partner with BIO-key and bring their cutting-edge identity and biometric authentication solutions to our growing portfolio. At Cloud Distribution, we prioritise cybersecurity technologies that address modern threats with innovation and scalability. Our investment in local resources dedicated to BIO-key reflects our belief in their vision and our commitment to delivering value across the region,” said Thamer Abdallah, CEO & Founder of Cloud Distribution Co.

    “Our partnership with Cloud Distribution reflects our dedication to the Middle East—not only through innovative solutions but also through strategic alliances with partners who share our vision. The addition of dedicated Cloud Distribution resources for BIO-key in Riyadh is a smart and impactful move that ensures we remain close to our customers and ready to scale,” said Alex Rocha, International Managing Director at BIO-key.

    About Cloud Distribution Co. (https://dcloud.com.sa)
    Cloud Distribution Co., part of the Ideal Group, is a leading Saudi-based Value-Added Distributor of cybersecurity and infrastructure solutions across the Middle East. Known for its deep technical expertise, local presence, and focus on innovation, Cloud Distribution supports its partner network with best-in-class technologies and services that drive secure digital transformation.

    About BIO-key International, Inc. (www.BIO-key.com)
    BIO-key is revolutionizing authentication and cybersecurity with biometric-centric, multi-factor identity and access management (IAM) software securing access for over forty million users. BIO-key allows customers to choose the right authentication factors for diverse use cases, including phoneless, tokenless, and passwordless biometric options. Its cloud-hosted or on-premise PortalGuard IAM solution provides cost-effective, easy-to-deploy, convenient, and secure access to computers, information, applications, and high-value transactions.

    BIO-key Safe Harbor Statement
    All statements contained in this press release other than statements of historical facts are “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 (the “Act”). The words “estimate,” “project,” “intends,” “expects,” “anticipates,” “believes” and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management’s beliefs, as well as assumptions made by, and information currently available to, management pursuant to the “safe-harbor” provisions of the Act. These statements are not guarantees of future performance or events and are subject to risks and uncertainties that may cause actual results to differ materially from those included within or implied by such forward-looking statements. These risks and uncertainties include factors set forth under the caption “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2024 and other filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, we undertake no obligation to disclose any revision to these forward-looking statements, whether as a result of new information, future events, or otherwise.

    Investor Contacts
    William Jones, David Collins
    Catalyst IR
    BKYI@catalyst-ir.com or 212-924-9800

    The MIL Network

  • MIL-OSI: Patriot Bank Expands Its Board and Senior Leadership Team

    Source: GlobeNewswire (MIL-OSI)

    • Richard Smith, Jeff Seabold and Thedora Nickel elected Directors.
    • Paul Simmons appointed EVP, Chief Credit Officer
    • Nicole L. Wells appointed SVP, Head of Operations
    • Rebecca Mais appointed SVP, High Net Worth and Specialty Deposits
    • Raquel Gillett appointed SVP, Digital Transformation and Risk Analytics

    STAMFORD, Conn., May 19, 2025 (GLOBE NEWSWIRE) — Patriot Bank, N.A. (“Patriot Bank”), the wholly owned subsidiary of Patriot National Bancorp, Inc. (NASDAQ: PNBK), is pleased to announce the election of Richard Smith, Jeffrey Seabold and Thedora Nickel to serve on the Patriot Bank’s Board of Directors and the appointment of the following leaders to the management team:

    • Paul Simmons as Executive Vice President, Chief Credit Officer
    • Nicole L. Wells as Senior Vice President, Head of Operations
    • Rebecca Mais as Senior Vice President, High Net Worth and Specialty Deposits
    • Raquel Gillett as Senior Vice President, Digital Automation and Risk Analytics

    These appointments strengthen Patriot Bank’s leadership team as the organization focuses on delivering exceptional banking services to high-net-worth clients and the fiduciaries who serve them.

    “We are delighted to welcome Richard, Jeff, Teddy, Paul, Nicole, Rebecca, and Raquel to their new roles,” said Steven Sugarman, Chief Executive Officer of Patriot Bank. “Their collective expertise and vision will advance Patriot’s mission to empower our clients while delivering exceptional value to our shareholders.”

    Richard Smith, Director

    Richard Smith brings 40 years of banking expertise, specializing in private banking for high-net-worth individuals. Beginning his career as a banking analyst with Manufacturers Hanover in New York, he later held senior roles at Imperial Bank and Comerica Bank in Southern California. In 2005, Smith founded The Private Bank of California and served as its President. After its sale to Banc of California in 2012, he was named President of Banc of California’s Private Banking Division. Smith serves on the Board of CalPrivate Bank, the Zimmer Children’s Museum, and the Westside Food Bank in Los Angeles.

    “It is a privilege to join Patriot Bank’s Board of Directors,” said Smith. “Patriot Bank’s commitment to serving high net worth clients and their advisors aligns with my passion for fostering strong client relationships.”

    Jeffrey Seabold, Director

    Jeff Seabold is an accomplished entrepreneur, investor, and executive leader with almost 30 years of experience in corporate strategy, business development, and executive management. He has a proven history in real estate finance and commercial banking.

    Mr. Seabold is the Co-Founder and a Director of The Change Company CDFI LLC and Change Lending LLC, a certified Community Development Financial Institution (CDFI) focused on home lending. Previously, Mr. Seabold was the Co-Founder and Executive Vice Chairman of Banc of California, Inc., a publicly traded bank holding company and federally chartered national bank headquartered in Irvine, California. Seabold was also the Founder of CS Financial, Inc., a national mortgage finance company, Co-Founder for Camden Capital Partners, LLC, a bridge & mezzanine real estate lender and servicer, and the Founder of Camden Escrow, Inc., a real estate settlement services provider.

    “I’m proud to join the Board of Directors at Patriot Bank and support its mission of delivering personalized, high-quality banking solutions,” said Seabold. “Throughout my career, I have seen the value of building lasting relationships based on trust, service, and understanding. I look forward to contributing my experience to help Patriot Bank deepen its connection with clients and to build a trusted financial partner for our clients.”

    Thedora Nickel, Director

    Thedora Nickel has over 30 years of banking leadership experience, with deep expertise in domestic and international operations, client service, and organizational transformation. She currently serves as Executive Director of The Change Company and Change Lending. Prior to this role, Nickel was Chief Administrative Officer at Banc of California where she led the strategic direction of key enterprise and operational functions. She previously held several senior leadership positions at Bank of America over a 25-year career, most recently as SVP, Group Operations Executive, overseeing national research, resolution, and reconcilement functions in support of the bank’s bank centers, capture sites, and cash vaults. Earlier, she led the Transaction Services West Region with responsibility for over two thousand employees and five processing units. A certified Six Sigma Executive, Nickel also dedicates her time mentoring MBA students at the University of California, Irvine and serves on the board of The Whole Child, a non-profit organization serving vulnerable families in Los Angeles County.

    “I’m honored to join Patriot Bank’s Board of Directors,” said Nickel. “With my experience driving operational excellence and delivering client-focused solutions, I look forward to helping the organization build a strong foundation for sustainable growth.”

    Paul Simmons, Executive Vice President, Chief Credit Officer

    Paul Simmons is a seasoned banking executive with over 35 years of experience in commercial lending, credit, and financial services. Prior to joining Patriot Bank, Mr. Simmons served as Executive Vice President and Chief Credit Officer of Sunwest Bank, Silvergate Bank and Banc of California. He has overseen all aspects of credit administration, asset quality, and lending operations. He also held senior leadership positions at Citigroup, GE Capital, Apollo Real Estate Advisors, and Zions Bancorporation. A graduate of Brigham Young University, Simmons is recognized for his strategic acumen and breadth of experience.

    “I’m honored to join Patriot Bank as its Chief Credit Officer,” said Simmons. “Over my career, I have been fortunate to lead credit organizations at banks of all sizes — always with a focus on building strong credit cultures, managing risk with discipline, and partnering with lending teams to drive smart, sustainable growth. I am excited to be a part of this high-performing executive team to bring that same approach to Patriot Bank and to contribute to Patriot Bank’s turnaround focused on serving our clients with excellence.”

    Nicole L. Wells, Senior Vice President, Head of Operations

    With over 30 years of experience in banking and financial services, Nicole L. Wells joins Patriot Bank as its Senior Vice President and Head of Operations. She served as Head of Strategic Retail Operations at Santander Bank, N.A. in Greater Boston, a role she started in September 2020. Previously, Ms. Wells served as SVP, Private Banking Operations at Banc of California. Wells also held roles at Bank of America, Countrywide Bank, Western Federal Credit Union, and Citibank. Wells holds an M.P.A. in Public Administration with a focus on Organizational Leadership from California State University-Dominguez Hills and completed the Executive Education Program at Columbia Business School.

    “I am delighted to join Patriot Bank and lead its bank operations,” said Wells. “My experience in driving strategic business enablement, simplification, and process excellence will support the Bank’s commitment to delivering seamless, client-focused services.”

    Rebecca Mais, Senior Vice President, High Net Worth and Specialty Deposits

    Rebecca Mais joins Patriot Bank as its Senior Vice President, High Net Worth and Specialty Deposits. Ms. Mais, bringing over 17 years of experience, leading Private Banking and Non-Profit divisions. Previously, she held leadership roles at Banc of California, Bank of Hope and Commerce Bank, where she specialized in market expansion and developing customized deposit solutions for high-net-worth individuals, centers-of-influence, and specialized sectors, including real estate, entertainment, Institutional Banking, Non-Profits, RIA and Business Management Services. Mais is passionately committed to the families and communities we serve and is the Board Secretary of the Westside Food Bank Non-Profit. She is a highly engaged, results-driven, and client-centric leader who is recognized for her ability to drive deposit growth and foster long-term client relationships. Mais holds an Executive M.B.A. from Pepperdine University’s Graziadio School of Business and a B.S. in Business Administration/Fashion Merchandising from Philadelphia University.

    “It’s a privilege to work with such an incredible team to deliver tailored financial solutions that meet the unique needs of our remarkable clients,” said Mais. “I look forward to building Patriot into a client-focused bank able to empower the communities we serve.”

    Raquel Gillett, Senior Vice President, Digital Transformation and Risk Analytics

    Raquel Gillett joins Patriot Bank as its Senior Vice President of Digital Transformation and Risk Analytics, bringing over 20 years of experience in banking and financial services. Previously, she served in senior roles at The Change Company, COR Clearing, Banc of California, California National Bank, and Southern Pacific. She has led technology-driven process improvements as well as overseen financial controls. Ms. Gillett is highly experienced implementing innovative digital risk and reporting solutions, integrating systems, and optimizing reporting frameworks.

    “I am thrilled to join Patriot Bank to lead its digital transformation, leveraging technology to empower our bankers to serve our clients safely and with operational excellence. Strengthening our risk analytics will allow Patriot to pursue our mission and vision safely and soundly,” Gillett said.

    For more information about Patriot Bank, please visit www.bankpatriot.com.

    Media Contact:

    Kirsten Hoekman
    Patriot Bank, N.A.
    Phone: (203) 252-5905
    Email: khoekman@bankpatriot.com

    The MIL Network

  • MIL-OSI: 180 Degree Capital Corp. Issues Q1 2025 Shareholder Letter

    Source: GlobeNewswire (MIL-OSI)

    MONTCLAIR, N.J., May 19, 2025 (GLOBE NEWSWIRE) — 180 Degree Capital Corp. (NASDAQ:TURN) today issued the following Q1 2025 Shareholder Letter:

    Fellow Shareholders,

    As discussed in our press release issued on April 14, 2025, we ended the first quarter of 2025 with a net asset value per share (“NAV”) of $4.42. We are pleased with our performance in Q1 2025, that we believe favorably positions 180 Degree Capital as we continue to make progress on the steps required to complete our proposed Business Combination with Mount Logan Capital Inc. (“Mount Logan”). For those of you who may not have had a chance to listen to our joint call with the team from Mount Logan or to review the presentation deck that summarizes the proposed transaction, both can be found at https://ir.180degreecapital.com/ir-calendar/detail/2908/180-degree-capital-and-mount-logan-capital-proposed-merger. Our excitement for the potential of this transaction to create value for our shareholders has only grown since we announced this proposed Business Combination and conducted this joint call.

    We noted in a press release issued on May 7, 2025, that we filed an amended preliminary joint proxy statement/prospectus on Schedule 14A with the Securities and Exchange Commission (“SEC”) regarding our proposed Business Combination with Mount Logan includes Mount Logan’s financial statements which were prepared in accordance with accounting principles generally accepted in the US, or US GAAP. The conversion of Mount Logan’s financial statements from International Financial Reporting Standards, or IFRS, to US GAAP is an important milestone as now we are in a position to be able to speak freely with current and potential investors regarding historical financial performance and apples-to-apples comparisons of Mount Logan to its publicly traded peers. This conversion to US GAAP also resulted in favorable improvements in historical financial metrics, including an increase in Mount Logan’s reported fee-related earnings in 2024 under IFRS to approximately $9.1 million under US GAAP, and an increase in the reported shareholder equity value of Mount Logan as of December 31, 2024, under IFRS to approximately $104.1 million under US GAAP.

    We believe that the availability of Mount Logan’s US GAAP financial statements will add to the strong indications of support we have received from initial conversations with our shareholders following the filing of our initial joint proxy statement/prospectus in late March 2025. We believe our investors who have signed voting agreements and/or provided indications of support already understood the potential that we believe exists to create significant value for shareholders of 180 Degree Capital through this Business Combination even before Mount Logan’s US GAAP financial statements were available. We appreciate all of this support and patience as we move steadily through the SEC review process, toward the start of soliciting votes, and the ultimate goal of the completion of our proposed Business Combination.

    As mentioned earlier, our belief about the potential of our proposed Business Combination to create significant shareholder value for 180 Degree Capital shareholders has only grown stronger since our initial announcement in January 2025. This belief is amplified by numerous significant shareholders who have voiced their support for our proposed Business Combination to us, as well as new shareholders who were drawn to invest in 180 Degree Capital based on what we believe to be a shared view that our proposed Business Combination is a unique opportunity for future value creation. We continue to believe that converting to an operating company will make 180 Degree Capital’s net asset value a floor for our stock price rather than the ceiling as it is for most closed-end funds. The pro forma combination of our businesses, based on 180 Degree Capital’s net asset value and Mount Logan’s equity value, respectively as of December 31, 2024, less estimated merger-related expenses and other estimated adjustments, yields a combined entity with an estimated shareholder equity value of nearly $140 million. While the ultimate ratio of ownership between 180 Degree Capital and Mount Logan shareholders will be based on 180 Degree Capital’s net asset value at closing of the Business Combination, if the transaction closed on December 31, 2024, the portion of this equity value ascribed to 180 Degree Capital shareholders would equate to more than 180 Degree Capital’s net asset value as of that date. This fact is only one of the multitude of reasons we are so excited about this proposed transaction and its potential opportunity to create meaningful value for 180 Degree Capital’s shareholders.

    To remind everyone of our original views and comments included in our Q4 2024 Shareholder Letter issued on February 14, 2025, Mount Logan has the following attributes that we believe will provide value to 180 Degree Capital shareholders:

    • Mount Logan has what we believe to be an outstanding management team comprised of its CEO, Ted Goldthorpe, its Co-Presidents, Matthias Ederer and Henry Wang, and its CFO, Nikita Klassen;
    • Mount Logan’s asset management platform has approximately $2.4+ billion of assets under management (as of September 30, 2024) that we believe generates predictable fee revenue that can be used to benefit the growth of the combined company and its shareholders;
    • Mount Logan has operational leverage and unique investment access through its association with BC Partners, a leading global private equity and credit firm;
    • Mount Logan is focused on what we believe is the fast-growing market of private credit;
    • We believe that Mount Logan remains undiscovered by the majority of investors due to it being listed on the Cboe Canada exchange rather than a US national exchange; and
    • We believe Mount Logan is significantly undervalued by public market investors.

    For 35 years, I have been a value investor attempting to uncover great companies that I believe are trading below their intrinsic value. As we spent more time with Ted and his colleagues over the past 10 months, it became abundantly clear to us that: 1) we believe Mount Logan is one of these great undiscovered and undervalued companies and 2) the combination of our two companies has the potential to unlock substantial value for 180 Degree Capital shareholders by:

    1. Providing a path to a combined entity that, based on combined shareholder equity as of December 31, 2024, and an estimated distribution of ownership as of the date of the announcement of the Business Combination, would result in 180 Degree Capital shareholder’s portion of the combined shareholder equity being higher than our NAV as of the date of signing of the definitive agreement on January 16, 2025, and as of March 31, 2025.

      For those of our investors who feel more comfortable assessing value based on net asset value/book value, we note that publicly traded comparable companies to what would be our combined company often trade at multiples of book value rather than discounts. For those investors who are comfortable or more interested in valuing based on operating company metrics, we believe the valuation of our combined business will be based on a multiple of fee-related revenues attributed to earnings from the management of permanent and semi-permanent capital vehicles. Other similar businesses commonly trade at significantly higher multiples of operating metrics than the multiple implied by the value of Mount Logan set by the terms of our proposed Business Combination.

    2. Changing to an asset-light operating company that leverages an association with BC Partners enables economies of scale that are not possible at 180 Degree Capital’s current size; and
    3. Substantially increasing the available capital for us to be able to leverage our relationships with small and microcapitalization public companies, to develop capital structure solutions that seek to unlock value and generate favorable risk-adjusted returns.

    As the table below shows, we believe our shareholders have benefited from our ability to generate positive returns on our investments since we took over management of 180 Degree Capital. These returns were offset by material declines in the legacy private portfolio that we inherited.

    Public Portfolio
    Contribution to Change in NAV
    (Q4 2016-Q1 2025)
    Legacy Private Portfolio
    Contribution to Change in NAV
    (Q4 2016-Q1 2025)
    +$3.35/share -$2.41/share
      TURN Public Portfolio Gross Total (Excluding SMA Carried Interest) TURN Public Portfolio Gross Total (Including SMA Carried Interest) Change in NAV Change in Stock Price Russell Microcap Index Lipper Peer Group Average
    Inception to Date
    Q4 2016 – Q1 2025
    +198.7% +218.3% -37.0% -4.1% +44.3% +66.1%

    On a relative basis, our gross total return for Q1 2025 of +4.5% compares favorably to the –14.4% total return for the Russell Microcap Index.1 The difference between our gross total return and our net total return, or change in NAV, of -4.7% to $4.42 as of March 31, 2025, was primarily the result of expenses related to our Business Combination, including almost $300,000 in additional professional fees resulting from the public efforts to derail our proposed Business Combination. Our day-to-day operating expenses declined by over 30% from Q1 2024.

    Public Portfolio Performance in Q1 2025

    The slide below shows the basis for our investment performance in Q1 2025:

    Ticker Symbol Shares Owned @ 12/31/24 Net Shares Purchased (Sold) During Quarter Shares Owned @ 3/31/25 Value @ 12/31/24 Cash (Invested) Received from Sales / Dividends Value @ 3/31/25 Value + Cash Received Total Q/Q Net Change % Change
    ACNT 377,750 (10,890) 366,860 $4,223,245 $133,731 $4,644,448 $4,778,179 $554,934 13.1%
    AREN 992,992 0 992,992 $1,330,609 $0 $1,717,876 $1,717,876 $387,267 29.1%
    AVNW 0 10,200 10,200 $0 ($210,768) $195,534 $195,534 ($15,234) (7.2%)
    BCOV 1,053,580 (1,053,580) 0 $4,583,073 $4,688,431 $0 $4,688,431 $105,358 2.3%
    CVGI 410,000 0 410,000 $1,016,800 $0 $471,500 $471,500 ($545,300) (53.6%)
    IVAC 1,046,597 (1,046,597) 0 $3,558,430 $4,293,141 $0 $4,293,141 $734,711 20.6%
    LTRX 656,139 12,572 668,711 $2,703,293 ($34,949) $1,665,090 $1,665,090 ($1,073,151) (39.2%)
    MAMA 0 20,000 20,000 $0 ($122,552) $130,200 $130,200 $7,648 6.2%
    PBPB 1,091,206 0 1,091,206 $10,279,161 $0 $10,377,369 $10,377,369 $98,209 1.0%
    PBPB/WS 80,605 0 80,605 $351,558 $0 $327,256 $327,256 ($24,301) (6.9%)
    RFIL 472,506 0 472,506 $1,847,498 $0 $2,216,053 $2,216,053 $368,555 19.9%
    SCOR 400,451 0 400,451 $2,338,634 $0 $2,751,098 $2,751,098 $412,465 17.6%
    SNCR 854,788 0 854,788 $8,205,965 $0 $9,308,641 $9,308,641 $1,102,677 13.4%
    SNCR-RS 12,000 12,000 24,000 $103,665 $0 $222,784 $222,784 $119,119 114.9%
    Total Other   $0 ($193,561) $185,350 $185,350 ($8,211) (4.2%)
    Total Public Portfolio $40,541,931 $8,553,473 $34,213,199 $43,328,502 $2,224,746  
    Public Portfolio Gross Total Return (Excluding Carried Interest from SMA) 4.5%
    Public Portfolio Gross Total Return (Including Carried Interest from SMA) 4.5%

    I, as the largest individual shareholder of 180 Degree Capital, and Daniel as a top-ten shareholder, could not be more excited about the future of the combined entity. We are not the only ones who understand the potential for value creation from this Business Combination. Some of our largest shareholders have signed either voting agreements or non-binding indications of support, that when combined with ownership of management and the board, account for approximately 27% of our outstanding shares in the aggregate. We appreciate the time and consideration these shareholders spent to understand the merits of this proposed Business Combination and their support for it. We also appreciate the time and interest of new shareholders who have become interested in 180 Degree Capital’s common stock because of the proposed Business Combination.

    We believe the proposed Business Combination to be the best opportunity to build value for all shareholders of 180 Degree Capital. We believe strongly in its future under the leadership of Ted and his colleagues. I have been an investor in the public markets for 35 years, during which time investors entrusted me with billions of dollars of capital. We are interested in building true value for shareholders over the short and long term. We believe this combination achieves both of these objectives. We look forward to discussing these updates to our preliminary joint proxy statement/prospectus and to having robust conversations with all of our current and potential future shareholders. Feel free to reach out to us at any time and thank you, as always, for your support.

    All the best,

    Kevin M. Rendino
    Chairman and Chief Executive Officer

    The table below summarizes 180 Degree Capital’s performance over periods of time through the end of Q1 20251:

      Quarter 1 Year 5 Year Inception to Date
      Q1 2025 Q1 2024- Q1 2025 Q1 2020- Q1 2025 Q4 2016- Q1 2025
    TURN Public Portfolio Gross Total Return
    (Excluding SMA Carried Interest)
    4.5% 5.6% -6.8% 198.7%
    TURN Public Portfolio Gross Total Return
    (Including SMA Carried Interest)
    4.5% 0.8% 43.8% 218.3%
             
    Change in NAV -4.7% -14.3% -30.5% -37.0%
             
    Change in Stock Price 8.2% -7.5% -2.6% -4.1%
             
    Russell Microcap Index -14.4% -7.0% 76.1% 44.3%
    Russell Microcap Growth Index -17.8% -5.0% 43.5% 29.6%
    Russell Microcap Value Index -11.3% -6.0% 106.7% 57.7%
    Russell 2000 Index -9.5% -4.0% 86.2% 65.3%
    Lipper Peer Group -10.1% -6.6% 113.2% 66.1%


    About 180 Degree Capital Corp.

    180 Degree Capital Corp. is a publicly traded registered closed-end fund focused on investing in and providing value-added assistance through constructive activism to what we believe are substantially undervalued small, publicly traded companies that have potential for significant turnarounds. Our goal is that the result of our constructive activism leads to a reversal in direction for the share price of these investee companies, i.e., a 180-degree turn. Detailed information about 180 Degree Capital and its holdings can be found on its website at www.180degreecapital.com.

    Press Contact:
    Daniel B. Wolfe
    Robert E. Bigelow
    180 Degree Capital Corp.
    973-746-4500
    ir@180degreecapital.com

    Additional Information and Where to Find It

    In connection with the proposed Business Combination, 180 Degree Capital intends to file with the SEC and mail to its shareholders a proxy statement on Schedule 14A (the “Proxy Statement”), containing a form of WHITE proxy card. In addition, the surviving Delaware corporation, Mount Logan Capital Inc. (“New Mount Logan”) plans to file with the SEC a registration statement on Form S-4 (the “Registration Statement”) that will register the exchange of New Mount Logan shares in the Business Combination and include the Proxy Statement and a prospectus of New Mount Logan (the “Prospectus”). The Proxy Statement and the Registration Statement (including the Prospectus) will each contain important information about 180 Degree Capital, Mount Logan, New Mount Logan, the Business Combination and related matters. SHAREHOLDERS OF 180 DEGREE CAPITAL AND MOUNT LOGAN ARE URGED TO READ THE PROXY STATEMENT AND PROSPECTUS CONTAINED IN THE REGISTRATION STATEMENT AND OTHER DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE APPLICABLE SECURITIES REGULATORY AUTHORITIES AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT 180 DEGREE CAPITAL, MOUNT LOGAN, NEW MOUNT LOGAN, THE BUSINESS COMBINATION AND RELATED MATTERS. Investors and security holders may obtain copies of these documents and other documents filed with the applicable securities regulatory authorities free of charge through the website maintained by the SEC at https://www.sec.gov and the website maintained by the Canadian securities regulators at www.sedarplus.ca. Copies of the documents filed by 180 Degree Capital are also available free of charge by accessing 180 Degree Capital’s investor relations website at https://ir.180degreecapital.com.

    Certain Information Concerning the Participants

    180 Degree Capital, its directors and executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies in connection with the Business Combination. Information about 180 Degree Capital’s executive officers and directors is available in 180 Degree Capital’s Annual Report filed on Form N-CSR for the year ended December 31, 2024, which was filed with the SEC on February 14, 2025, and in its proxy statement for the 2024 Annual Meeting of Shareholders (“2024 Annual Meeting”), which was filed with the SEC on March 1, 2024. To the extent holdings by the directors and executive officers of 180 Degree Capital securities reported in the proxy statement for the 2024 Annual Meeting have changed, such changes have been or will be reflected on Statements of Change in Ownership on Forms 3, 4 or 5 filed with the SEC. These documents are or will be available free of charge at the SEC’s website at https://www.sec.gov. Additional information regarding the persons who may, under the rules of the SEC, be considered participants in the solicitation of the 180 Degree Capital shareholders in connection with the Business Combination will be contained in the Proxy Statement when such document becomes available.

    Mount Logan, its directors and executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies from the shareholders of Mount Logan in favor of the approval of the Business Combination. Information about Mount Logan’s executive officers and directors is available in Mount Logan’s annual information form dated March 13, 2025, available on its website at https://mountlogancapital.ca/investor-relations and on SEDAR+ at https://www.sedarplus.com. To the extent holdings by the directors and executive officers of Mount Logan securities reported in Mount Logan’s annual information form have changed, such changes have been or will be reflected on insider reports filed on SEDI at https://www.sedi.ca/sedi/. Additional information regarding the persons who may, under the rules of the SEC, be considered participants in the solicitation of the Mount Logan shareholders in connection with the Business Combination will be contained in the Prospectus included in the Registration Statement when such document becomes available.

    Non-Solicitation

    This letter and the materials accompanying it are not intended to be, and shall not constitute, an offer to buy or sell or the solicitation of an offer to buy or sell any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made, except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended.

    Forward-Looking Statements

    This letter and the materials accompanying it, and oral statements made from time to time by representatives of 180 Degree Capital and Mount Logan, may contain statements of a forward-looking nature relating to future events within the meaning of federal securities laws. Forward-looking statements may be identified by words such as “anticipates,” “believes,” “could,” “continue,” “estimate,” “expects,” “intends,” “will,” “should,” “may,” “plan,” “predict,” “project,” “would,” “forecasts,” “seeks,” “future,” “proposes,” “target,” “goal,” “objective,” “outlook” and variations of these words or similar expressions (or the negative versions of such words or expressions). Forward-looking statements are not statements of historical fact and reflect Mount Logan’s and 180 Degree Capital’s current views about future events. Such forward-looking statements include, without limitation, statements about the benefits of the Business Combination involving Mount Logan and 180 Degree Capital, including future financial and operating results, Mount Logan’s and 180 Degree Capital’s plans, objectives, expectations and intentions, the expected timing and likelihood of completion of the Business Combination, and other statements that are not historical facts, including but not limited to future results of operations, projected cash flow and liquidity, business strategy, payment of dividends to shareholders of New Mount Logan, and other plans and objectives for future operations. No assurances can be given that the forward-looking statements contained in this press release will occur as projected, and actual results may differ materially from those projected. Forward-looking statements are based on current expectations, estimates and assumptions that involve a number of risks and uncertainties that could cause actual results to differ materially from those projected. These risks and uncertainties include, without limitation, the ability to obtain the requisite Mount Logan and 180 Degree Capital shareholder approvals; the risk that Mount Logan or 180 Degree Capital may be unable to obtain governmental and regulatory approvals required for the Business Combination (and the risk that such approvals may result in the imposition of conditions that could adversely affect New Mount Logan or the expected benefits of the Business Combination); the risk that an event, change or other circumstance could give rise to the termination of the Business Combination; the risk that a condition to closing of the Business Combination may not be satisfied; the risk of delays in completing the Business Combination; the risk that the businesses will not be integrated successfully; the risk that the cost savings and any other synergies from the Business Combination may not be fully realized or may take longer to realize than expected; the risk that any announcement relating to the Business Combination could have adverse effects on the market price of Mount Logan’s common stock or 180 Degree Capital’s common stock; unexpected costs resulting from the Business Combination; the possibility that competing offers or acquisition proposals will be made; the risk of litigation related to the Business Combination; the risk that the credit ratings of New Mount Logan or its subsidiaries may be different from what the companies expect; the diversion of management time from ongoing business operations and opportunities as a result of the Business Combination; the risk of adverse reactions or changes to business or employee relationships, including those resulting from the announcement or completion of the Business Combination; competition, government regulation or other actions; the ability of management to execute its plans to meet its goals; risks associated with the evolving legal, regulatory and tax regimes; changes in economic, financial, political and regulatory conditions; natural and man-made disasters; civil unrest, pandemics, and conditions that may result from legislative, regulatory, trade and policy changes; and other risks inherent in Mount Logan’s and 180 Degree Capital’s businesses. Forward-looking statements are based on the estimates and opinions of management at the time the statements are made. Readers should carefully review the statements set forth in the reports, which 180 Degree Capital has filed or will file from time to time with the SEC and Mount Logan has filed or will file from time to time on SEDAR+.

    Neither Mount Logan nor 180 Degree Capital undertakes any obligation, and expressly disclaims any obligation, to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. Any discussion of past performance is not an indication of future results. Investing in financial markets involves a substantial degree of risk. Investors must be able to withstand a total loss of their investment. The information herein is believed to be reliable and has been obtained from sources believed to be reliable, but no representation or warranty is made, expressed or implied, with respect to the fairness, correctness, accuracy, reasonableness or completeness of the information and opinions. The references and link to the website www.180degreecapital.com and mountlogancapital.ca have been provided as a convenience, and the information contained on such websites are not incorporated by reference into this press release. Neither 180 Degree Capital nor Mount Logan is responsible for the contents of third-party websites.

    1. Past performance is not an indication or guarantee of future performance. Gross unrealized and realized total returns of 180 Degree Capital’s cash and securities of publicly traded companies are compounded on a quarterly basis, and intra-quarter cash flows from investments in or proceeds received from privately held investments are treated as inflows or outflows of cash available to invest or withdrawn, respectively, for the purposes of this calculation. 180 Degree Capital is an internally managed registered closed-end fund that has a portion of its assets that are fair valued on a quarterly basis by the Valuation Committee of its Board of Directors, and 180 Degree Capital does not have an external manager that is paid fees based on assets and/or returns. Please see 180 Degree Capital’s filings with the SEC, including its 2024 Annual Report on Form N-CSR for information on its expenses and expense ratios.

    The MIL Network

  • MIL-OSI: Nuvini Group Announces Participation in the Sidoti Micro-Cap Investor Conference

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, May 19, 2025 (GLOBE NEWSWIRE) — Nuvini Group Limited (Nasdaq: NVNI) (“Nuvini” or the “Company”), a leading acquirer of private B2B SaaS companies in Latin America, today announced that management will participate in the Sidoti Virtual Micro-Cap Conference being held on May 21-22, 2025.

    Nuvini Chief Executive Officer and Founder Pierre Schurmann will present virtually on Thursday, May 22 at 8:30a.m. Eastern Time. A link to the webcast and associated presentation materials can be accessed here and through the Company’s investor relations website.

    Additionally, management will be available for one-on-one meetings throughout the conference. To schedule a one-on-one meeting with Nuvini’s management please contact your Sidoti conference representative or reach out to investor relations at NVNI@mzgroup.us.

    About Nuvini
    Headquartered in São Paulo, Brazil, Nuvini is Latin America’s leading private serial acquirer of B2B SaaS companies. The company focuses on acquiring profitable, high-growth SaaS businesses with strong recurring revenue and cash flow generation. By fostering an entrepreneurial environment, Nuvini enables its portfolio companies to scale and maintain leadership within their respective industries. The company’s long-term vision is to buy, retain, and create value through strategic partnerships and operational expertise.

    Investor Relations Contact
    Sofia Toledo
    ir@nuvini.co

    MZ North America
    NVNI@mzgroup.us

    The MIL Network

  • MIL-OSI: Enphase Energy Launches IQ Energy Management Solution in France

    Source: GlobeNewswire (MIL-OSI)

    FREMONT, Calif., May 19, 2025 (GLOBE NEWSWIRE) — Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company and the world’s leading supplier of microinverter-based solar and battery systems, today introduced IQ® Energy Management that integrates with Enphase solar and battery systems to enable smart management of variable electricity rates and select third-party electric vehicle (EV) chargers, heat pumps, and resistive electric water heaters in France. Homeowners can save money and maximize self-consumption through artificial intelligence (AI)-driven management of key home energy appliances – all controlled from the Enphase® App.

    In France, electrification is booming, with EV deployments up 400% since 2020 and a goal to manufacture one million new heat pumps by 2027. Recent data also shows that approximately 40% of all homes in France – 15 million homes – use electric water heaters, which can represent up to 20% of a household’s energy consumption. The IQ Energy Management solution consists of the IQ® Energy Router™ suite of products which comes with a 5-year warranty in France and works with leading EV chargers, heat pumps, and resistive electric water heaters.

    “Enphase’s IQ Energy Management is a smart solution for managing key home appliances more efficiently,” said Ludovic Vallée, general manager at Sun7, an installer of Enphase products in France. “It helps our customers maximize their solar energy use by intelligently managing EV chargers, heat pumps, and water heaters, ultimately helping users lower their energy costs and boosting energy independence.”

    “As more homeowners in France turn to smart energy solutions, they’re looking for flexibility and savings,” said Kevin Arteaga, manager at SAS Les Panneaux Solaires, an installer of Enphase products in France. “IQ Energy Management with the IQ Energy Router gives them the tools to better manage when and how they use electricity, helping them get the most out of their solar energy systems.”

    “This is a major step forward for smart energy solutions for residential homes in France,” said Alexandre Sibut, co-manager at Activ’Environnement 38, a Platinum level installer of Enphase products in France. “With significant annual savings potential on electricity bills, IQ Energy Management helps our customers to improve their self-consumption rate by steering excess production to critical energy needs and thus optimizing their solar investment.”

    “As part of our vision for smarter, more flexible energy management, we’re proud to offer homeowners in France a powerful solution to get more value from their solar,” said Sabbas Daniel, senior vice president of sales at Enphase Energy. “IQ Energy Management makes it possible to optimize electricity usage across key appliances using the Enphase App, driving savings, self-consumption, and energy resilience – all from one intelligent system.”

    For more information, please visit Enphase’s website for IQ Energy Management and the IQ Energy Router suite of products in France.

    About Enphase Energy, Inc.

    Enphase Energy, a global energy technology company based in Fremont, CA, is the world’s leading supplier of microinverter-based solar and battery systems that enable people to harness the sun to make, use, save, and sell their own power – and control it all with a smart mobile app. The company revolutionized the solar industry with its microinverter-based technology and builds all-in-one solar, battery, and software solutions. Enphase has shipped approximately 81.5 million microinverters, and approximately 4.8 million Enphase-based systems have been deployed in over 160 countries. For more information, visit https://enphase.com/.

    ©2025 Enphase Energy, Inc. All rights reserved. Enphase Energy, Enphase, the “e” logo, IQ, IQ8, and certain other marks listed at https://enphase.com/trademark-usage-guidelines are trademarks or service marks of Enphase Energy, Inc. Other names are for informational purposes and may be trademarks of their respective owners.

    Forward-Looking Statements

    This press release may contain forward-looking statements, including statements related to the expected capabilities and performance of Enphase Energy’s technology and products, including safety, quality, and reliability; Enphase Energy’s expectations of homeowners’ ability to save money and maximize self-consumption through the intelligent management of these key home electricity appliances and statements regarding the timing and availability Enphase Energy’s products in France. These forward-looking statements are based on Enphase Energy’s current expectations and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those contemplated by these forward-looking statements as a result of such risks and uncertainties including those risks described in more detail in Enphase Energy’s most recently filed Annual Report on Form 10-K, and other documents filed by Enphase Energy from time to time with the SEC. Enphase Energy undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations, except as required by law.

    Contact:

    Enphase Energy

    press@enphaseenergy.com

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

    The MIL Network

  • MIL-OSI: Circuits Integrated Hellas Launches Game-Changing Kythrion Satcom Chipset

    Source: GlobeNewswire (MIL-OSI)

    ATHENS, Greece, May 19, 2025 (GLOBE NEWSWIRE) — Circuits Integrated Hellas (CIH), a pioneering innovator in advanced satellite communication (Satcom) technology, today launched Kythrion™, its revolutionary chipset platform engineered to transform the satellite communications (Satcom) landscape. Designed from the ground up to meet the extreme demands of modern aerospace, defense, and connectivity networks, Kythrion sets new benchmarks for performance, miniaturization, and sustainability in flat panel antenna (FPA) design.

    Kythrion is the first integrated solution that combines transmit, receive, and antenna functionality within a proprietary 3D antenna-in-package (AiP) and system-in-package (SiP) architecture. By vertically stacking compound III-V semiconductors like gallium arsenide (GaAs) and gallium nitride (GaN) with silicon technologies, Kythrion delivers over 60% reduction in antenna size, weight, power and cost (SWaP-C), while increasing thermal performance—without the need to overhaul existing manufacturing infrastructure.

    Kythrion addresses the limitations of legacy flat panel phased array antennas, which often account for up to 20% of satellite payload mass and introduce design trade-offs in size, cost, and power. By eliminating unnecessary PCB layers and consolidating RF, logic, and antenna elements in a dense 3D chip, Kythrion enables Satcom operators to do more with less—fitting more advanced sensors on Earth observation platforms, including low Earth-orbit (LEO) satellites, extending mission lifetimes, and reducing launch costs.

    “There is nothing else like Kythrion on the market today,” said Paolo Fioravanti, CIH co-founder and CEO. “It’s a true game-changer—engineered to improve FPA performance; to fundamentally reshape how Satcom platforms are designed, deployed, and scaled; and to contribute to environmental change efforts by enabling better, more consistent capture and analysis of Earth observation data.”

    Users of Earth observation platforms face shrinking data windows and urgent demand for real-time, high-throughput connectivity. With up to 20x bandwidth improvements and dramatic mass reduction, Kythrion empowers satellite operators to integrate more sophisticated payloads—such as high-resolution sensors, multispectral imaging systems, or artificial intelligence (AI)-driven analytics—without requiring larger spacecraft or booster upgrades.

    Kythrion also represents a breakthrough in sustainable design. By leveraging existing semiconductor materials and infrastructure, the platform avoids costly capital-intensive retooling and minimizes carbon-intensive manufacturing inputs. This reuse-first approach aligns with growing industry and government calls for climate-conscious innovation in space technologies.

    “Kythrion is not about reinventing the wheel—it’s about reengineering how we use it,” said Giannis Kontogiannopoulos, CIH co-founder and CTO. “From the materials we source to the missions we enable, we’re making it possible to scale Satcom capabilities sustainably, affordably, and globally. Kythrion positions CIH as a true enabler for next-gen satellite technology.”

    CIH is making Kythrion available as a flexible platform that supports chip sales, design-for-license engagements, or custom integration. The platform is currently undergoing packaging and stress validation, with early-stage demonstrators expected in late Q3 2025 and general availability in Q2 2026. Patent protections are in place for Kythrion’s core design and packaging architecture, with additional filings in development to cover future enhancements.

    CIH executives will be available to meet with attendees interested in learning more about Kythrion and its implications for the future of Satcom technology during Space Meetings Veneto, May 20-22, in Venice, Italy, in Startup Booth 7. CEO Paolo Fioravanti will also present a workshop at the conference, titled “Evolution of SATCOM and Next Hardware Leap in the Eye of a Start-Up,” on Wednesday, May 21, at 10 a.m.

    For more information or to schedule a meeting at the event, contact CIH: info@circuitsintegrated.com.

    About Circuits Integrated Hellas
    Headquartered in Athens, Greece, CIH is revolutionizing space communications with advanced semiconductor technologies, merging III-V materials and silicon in groundbreaking 3D IC stacks for flat panel antennas (FPAs). Focused on miniaturization, cost efficiency, and unparalleled performance, CIH enables next-generation satellite connectivity, powering a future where seamless global communication knows no boundaries. For more information, visit circuitsintegrated.com.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/52d6a2ec-89d3-4ca1-aa0a-56be05437b5e

    The MIL Network

  • MIL-OSI: Oxford Lane Capital Corp. Announces Net Asset Value and Selected Financial Results for the Fourth Fiscal Quarter and Provides April Net Asset Value Update

    Source: GlobeNewswire (MIL-OSI)

    GREENWICH, Conn., May 19, 2025 (GLOBE NEWSWIRE) — Oxford Lane Capital Corp. (NasdaqGS: OXLC) (NasdaqGS: OXLCP) (NasdaqGS: OXLCL) (NasdaqGS: OXLCO) (NasdaqGS: OXLCZ) (NasdaqGS: OXLCN) (NasdaqGS: OXLCI) (NasdaqGS: OXLCG) (“Oxford Lane,” the “Company,” “we,” “us” or “our”) announced today the following financial results and related information:

    • As previously announced, on March 26, 2025, our Board of Directors declared the following distributions on our common stock:
    Month Ending Record Date Payment Date Amount Per Share
    July 31, 2025 July 17, 2025 July 31, 2025 $0.09
    August 31, 2025 August 15, 2025 August 29, 2025 $0.09
    September 30, 2025 September 16, 2025 September 30, 2025 $0.09
     
    • Net asset value (“NAV”) per share as of March 31, 2025 stood at $4.32, compared with a NAV per share on December 31, 2024 of $4.82.
    • In addition, management’s unaudited estimate of the range of the NAV per share of our common stock as of April 30, 2025, is between $3.98 and $4.08. This estimate is not a comprehensive statement of our financial condition or results for the month ended April 30, 2025. This estimate did not undergo the Company’s typical quarter-end financial closing procedures and was not approved by our Board of Directors. We advise you that our NAV per share for the quarter ending June 30, 2025 may differ materially from this estimate, which is given only as of April 30, 2025. See additional information under “Supplemental Information Regarding April Net Asset Value Estimate” below.
    • Net investment income (“NII”), calculated in accordance with U.S. generally accepted accounting principles (“GAAP”), was approximately $75.4 million, or $0.18 per share, for the quarter ended March 31, 2025.
    • Our core net investment income (“Core NII”) was approximately $95.8 million, or $0.23 per share, for the quarter ended March 31, 2025.
      • Core NII incorporates all applicable cash distributions received, or entitled to be received (if any, in either case), on our collateralized loan obligation (“CLO”) equity investments. See additional information under “Supplemental Information Regarding Core Net Investment Income” below.
      • We emphasize that our taxable income may differ materially from our GAAP NII and/or our Core NII, and that neither GAAP NII nor Core NII should be relied upon as indicators of our taxable income.
    • Total investment income for the quarter ended March 31, 2025 amounted to approximately $121.2 million, which represented an increase of approximately $6.7 million from the quarter ended December 31, 2024.
      • For the quarter ended March 31, 2025 we recorded investment income as follows:
        • Approximately $115.3 million from our CLO equity and CLO warehouse investments, and
        • Approximately $5.9 million from our CLO debt investments and other income.
    • Our total expenses for the quarter ended March 31, 2025 were approximately $45.8 million, compared with total expenses of approximately $42.0 million for the quarter ended December 31, 2024.
    • As of March 31, 2025, the following metrics applied (note that none of these metrics represented a total return to shareholders):
      • The weighted average yield of our CLO debt investments at current cost was 15.9%, down from 16.6% as of December 31, 2024.
      • The weighted average effective yield of our CLO equity investments at current cost was 15.9%, down from 16.1% as of December 31, 2024.
      • The weighted average cash distribution yield of our CLO equity investments at current cost was 20.5%, down from 23.9% as of December 31, 2024.
    • For the quarter ended March 31, 2025, we recorded a net decrease in net assets resulting from operations of approximately $120.8 million, or $0.28 per share, comprised of:
      • NII of approximately $75.4 million;
      • Net realized losses of approximately $8.5 million; and
      • Net unrealized depreciation of approximately $187.7 million.
    • During the quarter ended March 31, 2025, we made additional investments of approximately $526.2 million, and received approximately $136.0 million from sales and repayments of our CLO investments.
    • For the quarter ended March 31, 2025, we issued a total of approximately 60.7 million shares of common stock pursuant to an “at-the-market” offering. After deducting the sales agent’s commissions and offering expenses, this resulted in net proceeds of approximately $300.5 million. As of March 31, 2025, we had approximately 453.2 million shares of common stock outstanding and as of April 30, 2025, we had approximately 467.3 million shares of common stock issued and outstanding.
    • On May 15, 2025, our Board of Directors declared the required monthly dividends on our 6.25% Series 2027 Term Preferred Shares, 6.00% Series 2029 Term Preferred Shares, and 7.125% Series 2029 Term Preferred Shares as follows:
    Preferred
    Shares Type
    Per Share
    Dividend
    Amount
    Declared
    Record Dates Payment Dates
    6.25% – Series 2027   $ 0.13020833   June 16, 2025, July 17, 2025, August 15, 2025 June 30, 2025, July 31, 2025, August 29, 2025
    6.00% – Series 2029   $ 0.12500000   June 16, 2025, July 17, 2025, August 15, 2025 June 30, 2025, July 31, 2025, August 29, 2025
    7.125% – Series 2029   $ 0.14843750   June 16, 2025, July 17, 2025, August 15, 2025 June 30, 2025, July 31, 2025, August 29, 2025

    In accordance with their terms, each of the 6.25% Series 2027 Term Preferred Shares, 6.00% Series 2029 Term Preferred Shares, and 7.125% Series 2029 Term Preferred Shares will pay a monthly dividend at a fixed rate of 6.25%, 6.00% and 7.125%, respectively, of the $25.00 per share liquidation preference, or $1.5625, $1.5000 and $1.78125 per share per year, respectively. This fixed annual dividend rate is subject to adjustment under certain circumstances, but will not, in any case, be lower than 6.25%, 6.00% and 7.125% per year, respectively, for each of the 6.25% Series 2027 Term Preferred Shares, 6.00% Series 2029 Term Preferred Shares and 7.125% Series 2029 Term Preferred Shares.

    Supplemental Information Regarding April Net Asset Value Estimate

    The fair value of the Company’s portfolio investments may be materially impacted after April 30, 2025 by circumstances and events that are not yet known. To the extent the Company’s portfolio investments are impacted by market volatility in the U.S. or worldwide, the Company may experience a material impact on its future net investment income, the fair value of its portfolio investments, its financial condition and the financial condition of its portfolio investments. Investing in our securities involves a number of significant risks. For a discussion of the additional risks applicable to an investment in our securities, please refer to the section titled “Risk Factors” in our prospectus and the section titled “Principal Risks” in our most recent annual report or semi-annual report, as applicable.

    The unaudited estimate of the range of the NAV per share of our common stock as of April 30, 2025 included in this press release (the “preliminary financial data”) has been prepared by, and is the responsibility of, Oxford Lane Capital Corp.’s management. PricewaterhouseCoopers LLP has not audited, reviewed, compiled, or applied agreed-upon procedures with respect to the preliminary financial data. Accordingly, PricewaterhouseCoopers LLP does not express an opinion or any other form of assurance with respect thereto.

    Supplemental Information Regarding Core Net Investment Income 

    We provide information relating to Core NII (a non-GAAP measure) on a supplemental basis. This measure is not provided as a substitute for GAAP NII, but in addition to it. Our non-GAAP measures may differ from similar measures by other companies, even in the event of similar terms being utilized to identify such measures. Core NII represents GAAP NII adjusted for additional applicable cash distributions received, or entitled to be received (if any, in either case), on our CLO equity investments. Oxford Lane’s management uses this information in its internal analysis of results and believes that this information may be informative in assessing the quality of Oxford Lane’s financial performance, identifying trends in its results and providing meaningful period-to-period comparisons.

    Income from investments in the “equity” class securities of CLO vehicles, for GAAP purposes, is recorded using the effective interest method; this is based on an effective yield to the expected redemption utilizing estimated cash flows, at current cost, including those CLO equity investments that have not made their inaugural distribution for the relevant period end. The result is an effective yield for the investment in which the respective investment’s cost basis is adjusted quarterly based on the difference between the actual cash received, or distributions entitled to be received, and the effective yield calculation. Accordingly, investment income recognized on CLO equity securities in the GAAP statement of operations differs from the cash distributions actually received by the Company during the period (referred to below as “CLO equity adjustments”). 

    Furthermore, in order for the Company to continue qualifying as a regulated investment company for tax purposes, we are required, among other things, to distribute at least 90% of our investment company taxable income annually. While Core NII may provide a better indication of our estimated taxable income than GAAP NII during certain periods, we can offer no assurance that will be the case, however, as the ultimate tax character of our earnings cannot be determined until after tax returns are prepared at the close of a fiscal year. We note that this non-GAAP measure may not serve as a useful indicator of taxable earnings, particularly during periods of market disruption and volatility, and, as such, our taxable income may differ materially from our Core NII.

    The following table provides a reconciliation of GAAP NII to Core NII for the three months ended March 31, 2025:

      Three Months Ended  
    March 31, 2025  
      Amount   Per Share  
    Amount  
    GAAP net investment income…………………………………………   $ 75,354,120      $ 0.18   
    CLO equity adjustments……………………………………….………   20,458,574      0.05   
    Core net investment income……………………………………………   $ 95,812,694      $ 0.23   
                 

    We will host a conference call to discuss our fourth fiscal quarter results today, Monday, May 19, 2025 at 9:00 AM ET. Please call 1-833-470-1428, access code number 818188 to participate. A recording of the conference call will be available for replay for approximately 30 days following the call. The replay number is 1-866-813-9403, and the replay passcode is 138532.  

    A presentation containing additional details regarding our quarterly results of operations has been posted under the Investor Relations section of our website at www.oxfordlanecapital.com

    About Oxford Lane Capital Corp. 

    Oxford Lane Capital Corp. is a publicly-traded registered closed-end management investment company principally investing in debt and equity tranches of CLO vehicles. CLO investments may also include warehouse facilities, which are financing structures intended to aggregate loans that may be used to form the basis of a CLO vehicle.

    Forward-Looking Statements

    This press release contains forward-looking statements subject to the inherent uncertainties in predicting future results and conditions. Any statements that are not statements of historical fact (including statements containing the words “believes,” “plans,” “anticipates,” “expects,” “estimates” and similar expressions) should also be considered to be forward-looking statements. These statements are not guarantees of future performance, conditions or results and involve a number of risks and uncertainties.  Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements. These factors are identified from time to time in our filings with the Securities and Exchange Commission. We undertake no obligation to update such statements to reflect subsequent events, except as may be required by law.

    Contact:
    Bruce Rubin
    203-983-5280

    The MIL Network

  • MIL-OSI: TORRAS Redefines the iPhone Case Market with Ostand, OAir, and OFitness Series — A Fusion of Design, Durability, and Intelligent Functionality

    Source: GlobeNewswire (MIL-OSI)

    LOS ANGELES, May 19, 2025 (GLOBE NEWSWIRE) — TORRAS, a global leader in premium mobile accessories, is once again setting new industry benchmarks with its latest iPhone case lineup, blending aesthetic elegance, user-first innovation, and intelligent engineering. The recently launched Ostand, OAir, and OFitness series for the iPhone 16 Pro/Pro Max are drawing enthusiastic praise from users and tech experts alike, firmly cementing TORRAS’s position as a brand that doesn’t just protect devices—it elevates lifestyles.

    From magnetic stands that outsmart Apple’s own ideas to rugged, fashion-forward finishes designed for movement and self-expression, TORRAS’s new collection is designed for the modern, on-the-go individual who refuses to compromise between form and function.

    Stylish Protection with a Purpose: The Ostand Series
    Leading the charge is the TORRAS Ostand Case, which has been dubbed by Yanko Design as the “magnetic twist Apple didn’t think of.” With an integrated SnapMag™ ring stand, the Ostand offers 360° rotation and 180° foldability, allowing users to prop up their phones for video calls, streaming, or workouts—without sacrificing wireless charging compatibility.
    Android Central recently called it “the best-looking iPhone 16 Pro Max case yet,” praising its ultra-slim profile and premium materials that make the case feel like a natural extension of the iPhone’s design language.

    Built with military-grade shock absorption and TORRAS’s signature X-SHOCK 3.0 corner cushions, the Ostand series combines minimalist aesthetics with uncompromising protection.

    Ultra-Lightweight, Ultra-Breathable: The OAir Series
    Designed for users who crave sleekness without sacrificing durability, the OAir Case reimagines what a super lightweight protective case can be. Weighing just 28g, featuring a dual-layer structure reinforced with aerospace-grade materials. Inspired by the cushioning technology of air-cushioned running shoes, this TORRAS phone case features integrated air pockets within its protective layer for enhanced shock absorption.

    As noted by AppleInsider, the OAir is “rugged, colorful, and versatile,” delivering both durability and creative color combinations that suit a variety of personal styles. Whether for urban commuters or casual creators, the OAir hits the sweet spot between bold expression and trustworthy defense.

    Built for Movement: The OFitness Case
    For users who are constantly on the move, TORRAS introduces the OFitness Case, tailored for athletes, outdoor enthusiasts, and fitness-minded professionals. With a built-in magnetic stand and breathable air channels, this case is optimized for sweaty workouts, fast-paced lifestyles, and ergonomic comfort.

    According to SlashGear, the OFitness is “stylish and practical”—built not just to keep up with your routine, but to enhance it. The case is sweat-resistant, textured for grip, and integrates seamlessly with MagSafe accessories and fitness mounts.

    Technology + Lifestyle: A Design-Driven Approach
    All three case series exemplify TORRAS’s growing focus on “Human-Tech Design”—a philosophy that combines smart materials, thoughtful ergonomics, and future-facing features to create products that feel intuitive and indispensable.

    “We’ve always believed that the best technology is invisible—it enhances your experience without drawing attention to itself,” said at TORRAS. “With the Ostand, OAir, and OFitness series, we’re delivering accessories that are not only functional and protective, but emotionally resonant with how people live, move, and create today.”

    Available Now
    The Ostand, OAir, and OFitness series are now available globally on TORRAS’s official website, Amazon, and select retail partners. The collection supports:
    OAir:iPhone 16promax iPhone16 pro、iPhone15promax;
    OFitness: iPhone16, 16 pro, 16 promax & iPhone15pro,iPhone15 promax

    About TORRAS Founded in 2012, TORRAS is a global lifestyle brand driven by innovation, quality, and user experience. With over 300 patents and a presence in more than 40 countries, TORRAS is committed to reimagining everyday technology accessories through bold design and intelligent function.

    Photos accompanying this announcement are available at https://www.globenewswire.com/NewsRoom/AttachmentNg/46970882-0db2-4620-8442-8ebc3a530248
    https://www.globenewswire.com/NewsRoom/AttachmentNg/4894eb80-7679-42ec-81a0-258a394fd553
    https://www.globenewswire.com/NewsRoom/AttachmentNg/0119200d-9b01-49e6-aa0f-693e83c1200f
    https://www.globenewswire.com/NewsRoom/AttachmentNg/2161512d-d19b-46b7-9baa-54d4678f857e

    The MIL Network

  • MIL-OSI Europe: ASIA/HONG KONG – Cardinal Chow: Pope Leo has been to China several times and is familiar with Chinese culture and reality

    Source: Agenzia Fides – MIL OSI

    Monday, 19 May 2025

    Hong Kong (Agenzia Fides) – Before becoming Successor of Peter, Robert Francis Prevost “visited China several times and got to know the Chinese culture and reality.” This is what Jesuit Cardinal Stephen Chow Sau-yan, Bishop of Hong Kong, said in a video interview with Kung Kao Pao, the weekly newsletter of the Diocese of Hong Kong, following the election of Pope Leo XIV.The video interview is published on the diocesan bulletin website (周守仁樞機盼襄助教宗 落實共議同行 陪伴弱小者 | 本期公教報 | 天主教香港教區週報). Furthermore, Cardinal Chow recounts: “As Cardinal John Tong, Bishop Emeritus of Hong Kong, did in the past when he brought a statue of Our Lady of Sheshan to Pope Francis, following his example, I too gave a small statue of Our Lady of Sheshan to the new Pope, imploring him not to forget the Church in China and the Chinese people. He nodded his head to indicate that he will not forget the Church and the Chinese people,” the Jesuit cardinal added. “I believe he will gladly continue the direction followed by Pope Francis…”Bishop Stephen Chow was created a Cardinal in the consistory of September 30, 2023, along with then-Archbishop Prevost.Cardinal Chow has also expressed his desire to assist the Pope, especially in giving a voice to the weak. He trusts that the Pontiff “will take into account the multicultural nature of Asia. He has visited China on several occasions and has learned about its culture and reality. And he is said to share Pope Francis’ approach to China, which includes communication and dialogue.”“Pope Leo XIV is the man the cardinals considered good for the Church and for the world.” And with great joy, “the cardinals have elected a Pope who willingly listens.” Looking to the future, Cardinal Chow reiterated his “desire to collaborate in the Pope’s mission,” starting with “Hong Kong, where, together with the laity, we will accompany above all the marginalized and the weak, listening to their difficulties and cries, as the new Pope does.” (NZ) (Agenzia Fides, 19/5/2025)
    Share:

    MIL OSI Europe News

  • MIL-OSI United Kingdom: Wolverhampton Green Innovation Corridor opportunities on show at UKREiiF

    Source: City of Wolverhampton

    Delegates will be told about options to be part of the corridor – as a partner, developer, owner occupier or to secure future tenants.

    City of Wolverhampton Council and the University of Wolverhampton are particularly keen to hear from parties interested in joining them in a partnership to redevelop all or part of the corridor, to attract major investment and curate a distinctive innovation district.

    GIC connects key assets at the University of Wolverhampton’s Springfield Campus, Science Park, and the i54 advanced manufacturing business park – the country’s most successful Enterprise Zone.

    It is poised to revolutionise sustainable manufacturing through cutting edge technologies in additive materials, green construction and green computing. It will leverage Wolverhampton and the West Midlands’ internationally recognised advanced manufacturing strengths – particularly in automotive, aerospace and related sectors.

    GIC will provide transformational learning and upskilling opportunities for the people of Wolverhampton, creating pathways to high value jobs and strengthening the talent pool. It will also foster a dynamic, diverse ecosystem of innovation led businesses and entrepreneurs, creating a magnet for investors and the brightest talent.

    The scheme has already secured £27 million funding from UK Government and has attained West Midlands Investment Zone status, helping unlock transformational capital funding, business support and skills programmes.

    GIC will deliver access to internationally recognised research and expertise across green construction, green engineering and green computing and cybersecurity; space and facilities for every stage of business growth, co-location and community; and a drive on green skills.

    Councillor Chris Burden, the council’s Cabinet Member for City Development, Jobs and Skills, said: “Considerable work has been undertaken to develop the GIC proposition and case for investment.

    “The scheme already has a clear sense of direction and ambition and joining us at this stage provides ample opportunity to further shape the scheme and its offer to future occupiers.

    “The council and university have an extensive track record of working together with developers and investors to deliver transformative regeneration projects and we are already in active discussions with businesses seeking to locate at GIC and be part of a community of innovators.”

    Professor Prashant Pillai MBE, University of Wolverhampton, Pro Vice-Chancellor for Research and Knowledge Exchange, said: “Through the Green Innovation Corridor we’re aiming to establish a world leading, research driven innovation district – not just for Wolverhampton, but regionally, nationally, and globally.

    “This will be a district where the public and private sectors, alongside academia, collaborate to create a dynamic ecosystem of innovation.

    “The university has been looking at research around green engineering, green construction for the best part of 20 years and we can use that expertise to help businesses grow through innovation.”

    More information about the Green Innovation Corridor opportunities is available at Invest.

    MIL OSI United Kingdom

  • MIL-OSI: Agenda

    Source: GlobeNewswire (MIL-OSI)

            19th May 2025
    Announcement no 43/2025

    To Jyske Bank A/S and the Board of Jyske Realkredit A/S        
            
    Jyske Realkredit holds an extraordinary General Meeting on Tuesday 3rd June 2025 at 8.30 at Klampenborgvej 205, DK 2800 Lyngby.

    Agenda

    (a)     Proposal from the Supervisory Board:

    Change in the management of Jyske Realkredit A/S
    Niels Erik Jakobsen resigns as Chairman of the Supervisory Board on the 3rd June 2025. The Board proposes Lars Stensgaard Mørch to join the Board on the 3rd June 2025.

    (b)     Any other Business

    The Board has chosen cand. jur. Steen Jul Petersen as Chairman of the General Meeting.

    Yours faithfully,

    Niels Erik Jakobsen
    Chairman

    Please observe that the Danish version of this announcement prevails.

    The MIL Network

  • MIL-OSI: Gilat Reports First Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    Revenues Increased 21% Year-over-Year with Adjusted EBITDA of $7.6 Million

    Reiterates Guidance for 2025

    PETAH TIKVA, Israel, May 19, 2025 (GLOBE NEWSWIRE) — Gilat Satellite Networks Ltd. (NASDAQ: GILT, TASE: GILT), a worldwide leader in satellite networking technology, solutions and services, today reported its results for the first quarter, ended March 31, 2025.

    First Quarter 2025 Financial Highlights

    • Revenues of $92million, up 21% compared with $76.1million in Q12024;
    • GAAP operating loss of $2.7 million,compared with GAAP operating income of $5.4 million in Q1 2024 mainly due to a loss of about $3.6 million from Gilat Stellar Blu’s ramp up process, amortization of purchased intangibles derived from the Stellar Blu acquisition, and other operating expenses, related to earnout liabilities and one-time acquisition-related costs;
    • Non-GAAP operating income of $5.2million, compared with $6.6million in Q1 2024;
    • GAAP net loss of $6.0 million, or $0.11 per share, compared with GAAP net income of $5.0 million, or $0.09 per diluted share, in Q1 2024;
    • Non-GAAP net income of $1.8 million, or $0.03 per diluted share, compared with $6.0 million, or $0.11 per diluted share, in Q1 2024;
    • Adjusted EBITDA of $7.6 million, compared with $9.3 million in Q1 2024, which includes a loss of about $3.6 million from Gilat Stellar Blu’s ramp up process. Adjusted EBITDA, excluding such loss, was $11.2 million.

    Forward-Looking Expectations

    The Company today reiterated its guidance for 2025.

    Expectations are for revenue between $415 and $455 million, representing year-over-year growth of 42% at the midpoint. Adjusted EBITDA is expected to be between $47 and $53 million, representing year-over-year growth of 18% at the midpoint.  

    Management Commentary

    Adi Sfadia, Gilat’s CEO, commented: “Gilat delivered solid Q1 2025 results, demonstrating strong execution across the company and positive impact from our new organizational structure. Gilat Defense is experiencing significant momentum, fueled by growing demand for its broad portfolio of products and services and is becoming an increasingly important contributor to our growth. This growth is supported by macro-geopolitical factors that are driving increased investment in secure, mission-critical communications worldwide.”

    Mr. Sfadia added, “Regarding Gilat Commercial, our IFC business continues to expand as we deliver on customer commitments and grow our market base. Gilat Stellar Blu’s ramp up is on track, and its Sidewinder ESA is now flying on over 150 aircraft, with strong feedback and additional orders expected very soon. We are collaborating with our partners to expand into new applications such as ISR and VVIP aviation. We’re also in the process of developing OEM installation and broader modem compatibility, further establishing Sidewinder as the go-to multi-orbit IFC solution.”

    Mr. Sfadia concluded, “Based on our strong beginning to 2025 and as Stellar Blu’s ramp up finalizes, we are on track to deliver a record year in both revenues and non-GAAP profitability as we capture the expanding opportunities in mission-critical communications and next-generation satellite solutions.”

    Key Recent Announcements

    • Gilat Receives Over $15 Million in Orders from Leading Satellite Operators
    • Gilat Receives a Multimillion Order from a Global Defense Organization
    • Gilat Receives over $11 Million Defense Contract from a Leading UAV Company
    • Gilat Awarded Up to $23 Million Multi-Year Contract to Service Satellite Transportable Terminal Units for US DoD Customers
    • Gilat Receives $6 Million Defense Contract to Provide Military Communications solutions in Asia-Pacific
    • Gilat Receives $4 Million in Orders for Advanced Portable Satellite Terminals from Global Defense Customers
    • Gilat Awarded Over $5 Million to Support Critical Connectivity for Defense Forces

    Conference Call Details

    Gilat’s management will discuss its first quarter 2025 results and business achievements and participate in a question-and-answer session:

    Date: Monday, May 19, 2025
    Start: 09:00 AM EST / 16:00 IST
    Dial-in: US: 1-888-407-2553
      International: +972-3-918-0609

    A simultaneous webcast of the conference call will be available on the Gilat website at http://www.gilat.com and through this link: https://veidan.activetrail.biz/gilatq1-2025.

    The webcast will also be archived for a period of 30 days on the Company’s website and through the link above.

    Non-GAAP Measures

    The attached summary unaudited financial statements were prepared in accordance with U.S. Generally Accepted Accounting Principles (GAAP). To supplement the consolidated financial statements presented in accordance with GAAP, the Company presents non-GAAP presentations of gross profit, operating expenses, operating income, income before taxes on income, net income, Adjusted EBITDA, and earnings per share. The adjustments to the Company’s GAAP results are made with the intent of providing both management and investors with a more complete understanding of the Company’s underlying operational results, trends, and performance. Non-GAAP financial measures mainly exclude, if and when applicable, the effect of stock-based compensation expenses, amortization of purchased intangibles, lease incentive amortization, other non-recurring expenses, other integration expenses, other operating expenses (income), net, and income tax effect on the relevant adjustments.

    Adjusted EBITDA is presented to compare the Company’s performance to that of prior periods and evaluate the Company’s financial and operating results on a consistent basis from period to period. The Company also believes this measure, when viewed in combination with the Company’s financial results prepared in accordance with GAAP, provides useful information to investors to evaluate ongoing operating results and trends. Adjusted EBITDA, however, should not be considered as an alternative to operating income or net income for the period and may not be indicative of the historic operating results of the Company; nor is it meant to be predictive of potential future results. Adjusted EBITDA is not a measure of financial performance under GAAP and may not be comparable to other similarly titled measures for other companies. Reconciliation between the Company’s net income and adjusted EBITDA is presented in the attached summary financial statements.

    Non-GAAP presentations of gross profit, operating expenses, operating income, income before taxes on income, net income, adjusted EBITDA and earnings per share should not be considered in isolation or as a substitute for any of the consolidated statements of operations prepared in accordance with GAAP, or as an indication of Gilat’s operating performance or liquidity.

    About Gilat

    Gilat Satellite Networks Ltd. (NASDAQ: GILT, TASE: GILT) is a leading global provider of satellite-based broadband communications. With over 35 years of experience, we create and deliver deep technology solutions for satellite, ground and new space connectivity and provide comprehensive, secure end-to-end solutions and services for mission-critical operations, powered by our innovative technology. We believe in the right of all people to be connected and are united in our resolution to provide communication solutions to all reaches of the world.

    Our portfolio includes a diverse offering to deliver high value solutions for multiple orbit constellations with very high throughput satellites (VHTS) and software defined satellites (SDS). Our offering is comprised of a cloud-based platform and high-performance satellite terminals; high performance Satellite On-the-Move (SOTM) antennas; highly efficient, high-power Solid State Power Amplifiers (SSPA) and Block Upconverters (BUC) and includes integrated ground systems for commercial and defense, field services, network management software, and cybersecurity services.

    Gilat’s comprehensive offering supports multiple applications with a full portfolio of products and tailored solutions to address key applications including broadband access, mobility, cellular backhaul, enterprise, defense, aerospace, broadcast, government, and critical infrastructure clients all while meeting the most stringent service level requirements. For more information, please visit: www.gilat.com

    Certain statements made herein that are not historical are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. The words “estimate”, “project”, “intend”, “expect”, “believe” and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties. Many factors could cause the actual results, performance or achievements of Gilat to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, changes in general economic and business conditions, inability to maintain market acceptance to Gilat’s products, inability to timely develop and introduce new technologies, products and applications, rapid changes in the market for Gilat’s products, loss of market share and pressure on prices resulting from competition, introduction of competing products by other companies, inability to manage growth and expansion, loss of key OEM partners, inability to attract and retain qualified personnel, inability to protect the Company’s proprietary technology and risks associated with Gilat’s international operations and its location in Israel, including those related to the hostilities between Israel and Hamas. For additional information regarding these and other risks and uncertainties associated with Gilat’s business, reference is made to Gilat’s reports filed from time to time with the Securities and Exchange Commission. We undertake no obligation to update or revise any forward-looking statements for any reason.

    Contact:

    Gilat Satellite Networks
    Hagay Katz, Chief Products and Marketing Officer
    hagayk@gilat.com

    Alliance Advisors

    GilatIR@allianceadvisors.com
    Phone: +1 212 838 3777

    GILAT SATELLITE NETWORKS LTD.      
    CONSOLIDATED STATEMENTS OF INCOME (LOSS)      
    U.S. dollars in thousands (except share and per share data)      
        Three months ended
     March 31,
       
          2025       2024  
        Unaudited
             
    Revenues $ 92,037     $ 76,078  
    Cost of revenues   63,639       48,024  
             
    Gross profit   28,398       28,054  
             
    Research and development expenses, net   11,621       9,319  
    Selling and marketing expenses   8,202       7,077  
    General and administrative expenses   6,784       8,077  
    Other operating expenses (income), net   4,538       (1,810 )
             
    Total operating expenses   31,145       22,663  
             
    Operating income (loss)   (2,747 )     5,391  
             
    Financial income (expenses), net   (936 )     513  
             
    Income (loss) before taxes on income   (3,683 )     5,904  
             
    Taxes on income   (2,313 )     (940 )
             
    Net income (loss) $ (5,996 )   $ 4,964  
             
    Earnings (losses) per share (basic and diluted) $ (0.11 )   $ 0.09  
             
    Weighted average number of shares used in              
    computing earnings (losses) per share (Basic and Diluted)   57,037,671       57,016,585  
             
    GILAT SATELLITE NETWORKS LTD.
    RECONCILIATION BETWEEN GAAP AND NON-GAAP CONSOLIDATED STATEMENTS OF INCOME (LOSS)
    FOR COMPARATIVE PURPOSES
    U.S. dollars in thousands (except share and per share data)
        Three months ended   Three months ended
        March 31, 2025   March 31, 2024  
        GAAP   Adjustments (*)   Non-GAAP   GAAP   Adjustments (*)   Non-GAAP  
        Unaudited   Unaudited
                               
    Gross profit $ 28,398   810   $ 29,208   $ 28,054   726   $ 28,780
    Operating expenses 31,145   (7,090)   24,055   22,663   (499)   22,164
    Operating income (loss) (2,747)   7,900   5,153   5,391   1,225   6,616
    Income (loss) before taxes on income (3,683)   7,900   4,217   5,904   1,225   7,129
    Net income (loss) $ (5,996)   7,823   $ 1,827   $ 4,964   1,050   $ 6,014
                             
    Earnings (losses) per share (basic and diluted) $ (0.11)   $ 0.14   $ 0.03   $ 0.09   $ 0.02   $ 0.11
                             
                             
    Weighted average number of shares used in computing earnings (losses) per share                      
      Basic 57,037,671       57,037,671   57,016,585       57,016,585
      Diluted 57,037,671       58,005,232   57,016,585       57,108,734
                             
                             
     (*)  Adjustments reflect the effect of stock-based compensation expenses as per ASC 718, amortization of purchased intangibles, other operating income (expenses), net, other integration expenses and income tax effect on such adjustments which is calculated using the relevant effective tax rate.  
                             
            Three months ended           Three months ended    
            March 31, 2025           March 31, 2024    
            Unaudited           Unaudited    
                             
    GAAP net income (loss)   $ (5,996)           $ 4,964    
                           
    Gross profit                    
    Stock-based compensation expenses   173           150    
    Amortization of purchased intangibles   600           507    
    Other integration expenses   37           69    
          810           726    
    Operating expenses                    
    Stock-based compensation expenses   901           717    
    Stock-based compensation expenses related to business combination   607           1,324    
    Amortization of purchased intangibles   884           257    
    Other operating expenses (income), net *)   4,538           (1,810)    
    Other integration expenses   160           11    
            7,090           499    
                             
    Taxes on income   (77)           (175)    
                             
    Non-GAAP net income   $ 1,827           $ 6,014    
                             
                             
    *) Including M&A expenses related to business combinations in the amounts of $2,205 and $318 for the three months ended March 31, 2025 and 2024, respectively
                             
    GILAT SATELLITE NETWORKS LTD.      
    SUPPLEMENTAL INFORMATION      
    U.S. dollars in thousands      
           
           
    ADJUSTED EBITDA:      
           
       Three months ended
       March 31,
       2025     2024 
      Unaudited
           
    GAAP net income (loss) $ (5,996 )   $ 4,964  
    Adjustments:      
    Financial expenses (income), net   936       (513 )
    Taxes on income   2,313       940  
    Stock-based compensation expenses   1,074       867  
    Stock-based compensation expenses related to business combination   607       1,324  
    Depreciation and amortization (*)   3,962       3,481  
    Other operating expenses (income), net   4,538       (1,810 )
    Other integration expenses   197       80  
           
    Adjusted EBITDA $ 7,631     $ 9,333  
           
    (*) Including amortization of lease incentive      
           
    SEGMENT REVENUES:      
           
       Three months ended
       March 31,
        2025       2024  
      Unaudited
           
    Commercial $ 64,220     $ 41,193  
    Defense   23,011       17,230  
    Peru   4,806       17,655  
           
    Total revenues $ 92,037     $ 76,078  
           
    GILAT SATELLITE NETWORKS LTD.      
    CONSOLIDATED BALANCE SHEETS      
    U.S. dollars in thousands      
           
      March 31,   December 31,
        2025       2024  
      Unaudited   Audited
           
    ASSETS      
           
    CURRENT ASSETS:      
    Cash and cash equivalents $ 63,783     $ 119,384  
    Restricted cash   470       853  
    Trade receivables, net   49,164       49,600  
    Contract assets   33,394       24,941  
    Inventories   59,431       38,890  
    Other current assets   34,395       21,963  
           
       Total current assets   240,637       255,631  
           
    LONG-TERM ASSETS:      
    Restricted cash   13       12  
    Long-term contract assets   7,450       8,146  
    Severance pay funds   5,847       5,966  
    Deferred taxes   9,912       11,896  
    Operating lease right-of-use assets   6,400       6,556  
    Other long-term assets   8,539       5,288  
           
    Total long-term assets   38,161       37,864  
           
    PROPERTY AND EQUIPMENT, NET   69,878       70,834  
           
    INTANGIBLE ASSETS, NET   64,928       12,925  
           
    GOODWILL   169,444       52,494  
           
    TOTAL ASSETS $ 583,048     $ 429,748  
           
    GILAT SATELLITE NETWORKS LTD.      
    CONSOLIDATED BALANCE SHEETS (Cont.)      
    U.S. dollars in thousands      
           
      March 31,   December 31,
        2025       2024  
      Unaudited   Audited
           
    LIABILITIES AND SHAREHOLDERS’ EQUITY      
           
    CURRENT LIABILITIES:      
    Current maturities of long-term loan $ 3,000     $  
    Trade payables   20,364       17,107  
    Accrued expenses   48,245       45,368  
    Advances from customers and deferred revenues   71,701       18,587  
    Operating lease liabilities   2,865       2,557  
    Other current liabilities   24,617       17,817  
           
       Total current liabilities   170,792       101,436  
           
    LONG-TERM LIABILITIES:      
    Long-term loans   57,469       2,000  
    Accrued severance pay   6,536       6,677  
    Long-term advances from customers and deferred revenues   254       580  
    Operating lease liabilities   3,608       4,014  
    Other long-term liabilities   44,875       10,606  
           
       Total long-term liabilities   112,742       23,877  
           
    SHAREHOLDERS’ EQUITY:      
    Share capital – ordinary shares of NIS 0.2 par value   2,736       2,733  
    Additional paid-in capital   944,657       943,294  
    Accumulated other comprehensive loss   (6,411 )     (6,120 )
    Accumulated deficit   (641,468 )     (635,472 )
           
    Total shareholders’ equity   299,514       304,435  
           
    TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 583,048     $ 429,748  
           
    GILAT SATELLITE NETWORKS LTD.      
    CONSOLIDATED STATEMENTS OF CASH FLOWS      
    U.S. dollars in thousands      
           
      Three months ended
      March 31,
      2025   2024
      Unaudited
    Cash flows from operating activities:      
    Net income (loss) $ (5,996 )   $ 4,964  
    Adjustments required to reconcile net income (loss)      
     to net cash provided by (used in) operating activities:      
    Depreciation and amortization   3,905       3,425  
    Stock-based compensation expenses   1,681       2,191  
    Accrued severance pay, net   (22 )     (55 )
    Deferred taxes, net   1,984       451  
    Decrease (increase) in trade receivables, net   4,528       (8,797 )
    Decrease (increase) in contract assets   (7,798 )     6,248  
    Decrease in other assets and other adjustments (including short-term, long-term      
    and effect of exchange rate changes on cash, cash equivalents and restricted cash)   18,390       3,507  
    Increase in inventories   (11,456 )     (3,193 )
    Decrease in trade payables   (7,828 )     (666 )
    Decrease in accrued expenses   (6,358 )     (1,240 )
    Decrease in advances from customers and deferred revenues   (1,096 )     (2,754 )
    Increase in other liabilities   3,454       139  
    Net cash provided by (used in) operating activities   (6,612 )     4,220  
           
    Cash flows from investing activities:      
    Purchase of property and equipment   (1,490 )     (793 )
    Investment in other asset   (2,500 )      
    Acquisitions of subsidiary, net of cash acquired   (104,943 )      
    Net cash used in investing activities   (108,933 )     (793 )
           
    Cash flows from financing activities:      
    Repayment of short-term debt, net         (2,744 )
    Proceeds from long-term loan, net of associated costs   58,970        
    Net cash provided by (used in) financing activities   58,970       (2,744 )
           
    Effect of exchange rate changes on cash, cash equivalents and restricted cash   592       (268 )
           
    Increase (decrease) in cash, cash equivalents and restricted cash   (55,983 )     415  
           
    Cash, cash equivalents and restricted cash at the beginning of the period   120,249       104,751  
           
    Cash, cash equivalents and restricted cash at the end of the period $ 64,266     $ 105,166  
           

    The MIL Network

  • MIL-OSI Global: Introducing The Conversation and the BBC’s Secrets of the Sea – my journey to meet six marine scientists pioneering ocean solutions

    Source: The Conversation – UK – By Anna Turns, Senior Environment Editor

    Senior environment editor Anna Turns with BBC radio producer Jo Loosemore CC BY-NC-ND

    After a long drive to Godrevy lighthouse near St Ives in Cornwall, the wind is blowing and the waves are crashing. I’m here with BBC radio producer Jo Loosemore, on a roadtrip to meet some of the marine scientists researching how ocean health is vital to our future.

    As we squeeze between crevices in the cliffs to shelter from the elements at Godrevy beach, I interview Ed Gasson, a glaciologist at the University of Exeter. His story is full of surprises.

    Jo Loosemore with Anna Turns on Godrevy beach.
    Ed Gasson, CC BY-NC-ND

    This corner of north Cornwall is one I have visited many times, usually on bright, sunny days during weekend getaways or family holidays. I’ve gazed at the lighthouse, enjoyed spotting seals on the rocks beneath, and sat with both icecream and binoculars in hand on the benches by the coast path.

    But I had never looked closely at these cliffs below, until now. And I could never have guessed that this coastline had any connections to the ice age, the Antarctic or sea-level rise.

    In a collaboration between The Conversation and BBC South West, Secrets of the Sea is a new series that showcases local stories with global significance. World experts based across Devon and Cornwall are at the forefront of marine research into seaweeds and seagrass, seabed restoration and offshore shellfish farming.

    Prepping to record inside the National Maritime Museum of Cornwall.
    Jo Loosemore, CC BY-NC-ND

    From the rocky foreshore in Torquay to the mussel-covered pontoons of Plymouth harbour, I’ve been speaking to scientists about their work, their passions and the potential for our oceans to hold the key to climate resilience. Healthier seas mean our planet will be much better able to weather the stormy seas of the climate crisis.

    Each of the six radio programmes and accompanying articles delves into a different aspect of our oceans. Through 19th-century archives, in tiny test tubes on a lab bench, or inside a walk-in fridge full of marine fungi, this series explores creative ways to study ocean health. So, join me on BBC Sounds and here at The Conversation to go beneath the waves with a sense of wonder – and optimism.

    Listen to a mini-series of four short episodes on BBC Radio Devon from May 20-23 here. The full six-part series will air weekly from May 23 at 8.30pm on BBC Radio Devon and BBC Radio Cornwall.



    Local science, global stories.

    In collaboration with the BBC, Anna Turns travels around the West Country coastline to meet ocean experts making exciting discoveries beneath the waves.

    This article is part of a series, Secrets of the Sea, exploring how marine scientists are developing climate solutions.


    ref. Introducing The Conversation and the BBC’s Secrets of the Sea – my journey to meet six marine scientists pioneering ocean solutions – https://theconversation.com/introducing-the-conversation-and-the-bbcs-secrets-of-the-sea-my-journey-to-meet-six-marine-scientists-pioneering-ocean-solutions-249981

    MIL OSI – Global Reports

  • MIL-OSI: AMD Announces Agreement to Divest ZT Systems Data Center Infrastructure Manufacturing Business to Sanmina

    Source: GlobeNewswire (MIL-OSI)

    • $3 billion in cash and stock, inclusive of a contingent payment of up to $450 million
    • AMD retains ZT Systems’ rack-scale AI solutions design and customer enablement expertise to accelerate quality and time-to-deployment for cloud customers
    • Divestiture and preferred NPI manufacturing partnership with Sanmina consistent with intentions announced at the time of ZT Systems acquisition

    SANTA CLARA, Calif., May 19, 2025 (GLOBE NEWSWIRE) — AMD (NASDAQ: AMD) today announced it has entered into a definitive agreement to sell ZT Systems’ U.S.-headquartered data center infrastructure manufacturing business to Sanmina (NASDAQ: SANM), a leading integrated manufacturing solutions company. As part of the transaction, Sanmina becomes a preferred new product introduction (NPI) manufacturing partner for AMD cloud rack and cluster-scale AI solutions. AMD will retain ZT Systems’ world-class design and customer enablement teams to accelerate the quality and time-to-deployment of AMD AI systems for cloud customers.

    Sanmina will purchase the manufacturing business from AMD for $3 billion in cash and stock, inclusive of a contingent payment of up to $450 million and subject to customary adjustments for working capital and other items. The transaction is expected to close near the end of 2025, subject to regulatory approvals and customary closing conditions. The intent to seek a strategic partner to acquire ZT Systems’ world-class data center infrastructure manufacturing business was announced in August 2024 at the time of the original acquisition announcement.

    “By combining the deep experience of our AI systems design team with our new preferred NPI partnership with Sanmina, we expect to strengthen our U.S-based manufacturing capabilities for rack and cluster-scale AI systems and accelerate quality and time-to-market for our cloud customers,” said Forrest Norrod, executive vice president and general manager, Data Center Solutions business unit at AMD. “The ZT Systems manufacturing business and its expert team remain a very important and strategic partner to AMD. We look forward to working with Sanmina to deliver world-class design, quality and manufacturing of AMD AI solutions supported by our open ecosystem approach.”

    Sanmina is a U.S.-headquartered leading integrated manufacturing solutions provider serving the fastest growing segments of global Electronic Manufacturing Services (EMS), offering end-to-end design, manufacturing, logistics and repair solutions for OEMs across a variety of industries.

    “ZT Systems’ liquid cooling capabilities, high-quality manufacturing capacity and significant cloud and AI infrastructure experience are the perfect complement to Sanmina’s global portfolio, mission-critical technologies and vertical integration capabilities,” said Jure Sola, Chairman and CEO of Sanmina Corporation. “Together, we will be better able to deliver a competitive advantage to our customers with solutions for the entire product lifecycle. We look forward to our ongoing partnership with AMD as we work together to set the standard for quality and flexibility to benefit the entire AI ecosystem.”

    Advisors
    Morgan Stanley & Co. LLC is acting as exclusive financial advisor to AMD and Latham & Watkins LLP is serving as the company’s legal advisor.

    About AMD
    For more than 55 years AMD has driven innovation in high-performance computing, graphics and visualization technologies. Billions of people, leading Fortune 500 businesses and cutting-edge scientific research institutions around the world rely on AMD technology daily to improve how they live, work and play. AMD employees are focused on building leadership high-performance and adaptive products that push the boundaries of what is possible. For more information about how AMD is enabling today and inspiring tomorrow, visit the AMD (NASDAQ: AMD) website, blog, LinkedIn and X pages. 

    Cautionary Statement

    The statements in this press release includes forward-looking statements concerning Advanced Micro Devices, Inc. (“AMD”), ZT Group Int’l, Inc (“ZT Systems”) and Sanmina Corporation (“Sanmina”), the proposed transaction described herein and other matters. Forward-looking statements may discuss goals, intentions and expectations as to future plans, trends, events, results of operations or financial condition, or otherwise, based on current beliefs and involve numerous risks and uncertainties that could cause actual results to differ materially from expectations. Forward-looking statements speak only as of the date they are made or as of the dates indicated in the statements and should not be relied upon as predictions of future events, as there can be no assurance that the events or circumstances reflected in these statements will be achieved or will occur. Forward-looking statements can often, but not always, be identified by the use of forward-looking terminology including “believes,” “expects,” “may,” “will,” “should,” “seeks,” “intends,” “plans,” “pro forma,” “estimates,” “anticipates,” “designed,” or the negative of these words and phrases, other variations of these words and phrases or comparable terminology. The forward-looking statements relate to, among other things, Sanmina as a preferred NPI strategic partner and expected benefits and results from such preferred strategic partnership; AMD’s ability to accelerate the quality and time-to-deployment of AMD AI systems with ZT Systems design and customer enablement teams, obtaining applicable regulatory approvals, satisfying other closing conditions to the transaction, the expected timing of the transaction, the expected benefits to result from the transaction, AMD’s ability to accelerate AI innovation while providing the choice and open ecosystem options that customers want, the ability of AMD to leverage the systems expertise of the ZT Systems design team while optimizing AMD’s operational structure, and AMD’s ability to drive growth across its data center and AI businesses. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those contemplated by the statements. These risks include, among other things: failure to formalize the contemplated preferred NPI manufacturing partnership between AMD and Sanmina or the failure for such preferred strategic partnership to achieve its anticipated results; failure to accelerate the quality and time-to-deployment of AMD AI systems with ZT Systems design and customer enablement teams; failure to obtain applicable regulatory approvals in a timely manner or otherwise; failure to satisfy other closing conditions to the transaction or to complete the transaction on anticipated terms and timing; negative effects of the announcement of the transaction; risks that AMD will not realize expected benefits from the transaction or may take longer to realize than expected; the risk that disruptions from the transaction will harm business plans and operations; significant transaction costs, or difficulties and/or unknown or inestimable liabilities in connection with the transaction; restrictions during the pendency of the transaction that may impact the ability to pursue certain business opportunities or strategic transactions; the potential impact of the announcement or consummation of the transaction on AMD’s, Sanmina’s or either of their relationships with suppliers, customers, employees and regulators; and demand for AMD’s or Sanmina’s products. For a discussion of factors that could cause actual results to differ materially from those contemplated by forward-looking statements, see the section captioned “Risk Factors” in AMD’s Annual Report on Form 10-K for the fiscal year ended December 28, 2024, subsequent Quarterly Reports on Form 10-Q and other filings with the SEC. While the list of factors presented here is considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. AMD does not assume, and hereby disclaims, any obligation to update forward-looking statements, except as may be required by law.

    Contact:
    Brandi Martina
    AMD Communications
    (512) 705-1720
    Brandi.Martina@amd.com

    Liz Stine
    AMD Investor Relations
    (720) 652-3965
    Liz.Stine@amd.com

    The MIL Network

  • MIL-OSI: LanzaTech Announces First Quarter 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, May 19, 2025 (GLOBE NEWSWIRE) — LanzaTech Global, Inc. (NASDAQ: LNZA) (“LanzaTech” or the “Company”), a carbon management solutions company, today reported its financial and operating results for the first quarter of 2025.

    Key Takeaways:

    • Reported total revenue of $9.5 million for the first quarter of 2025 as compared to $10.2 million for the first quarter of 2024. The year-over-year decrease was driven primarily by lower revenues in the biorefining and Joint Development Agreement (“JDA”) & Contract Research businesses, which was largely offset by a significant increase in CarbonSmart™ revenue.
    • Continued to shift the Company’s core operations from research and development to the global deployment of LanzaTech’s commercially proven technology, with incremental actions being taken to sharpen the business focus, streamline operations, and improve the Company’s cost structure.
    • Closed $40 million of preferred equity capital in May of 2025; however, after completing its assessment as required by Generally Accepted Accounting Principles (“GAAP”), management has concluded that its continuing actions such as ongoing liquidity initiatives, together with the terms of the preferred capital, and the execution of cost reduction plans, do not alleviate substantial doubt about the Company’s ability to continue as a going concern.

    First Quarter 2025 Financial Results
    The table below outlines key results for the first quarter of 2025:

    All amounts in millions ($) Three Months Ended March 31,
        2025       2024  
    Revenue $ 9.5     $ 10.2  
    Cost of revenue   7.5       6.8  
    Gross Profit   2.0       3.4  
    Operating expenses   33.0       29.6  
    Net loss   (19.2 )     (25.5 )
    Adjusted EBITDA loss (1) $ (30.5 )   $ (22.1 )
                   

    (1)   See “Non-GAAP Financial Measures” and “Reconciliations of GAAP Net Loss to Adjusted EBITDA” sections herein for an explanation and reconciliations of non-GAAP measures used throughout this release.

    Revenue

    • Reported total revenue of $9.5 million for the first quarter of 2025 as compared to total revenue of $10.2 million for the first quarter of 2024. The decrease was driven primarily by lower biorefining and JDA & Contract Research revenues year-over-year, which were offset by a significant increase in CarbonSmart revenue:
      • Biorefining revenue for the first quarter of 2025 was $2.9 million as compared to $5.0 million for the first quarter of 2024. The year-over-year decrease was driven primarily by the first quarter of 2024 benefiting from engineering and other services contracts with existing customers which have since reached the completion of their current development phase.
      • JDA & Contract Research revenue for the first quarter of 2025 was $2.4 million as compared to $4.3 million for the first quarter of 2024. The year-over-year decline was attributable to the completion of certain government projects during 2024, compounded by a period of downtime prior to new projects commencing.
      • CarbonSmart revenue for the first quarter of 2025 was $4.2 million as compared to $0.9 million for the first quarter of 2024. The year-over-year increase was attributable to incremental direct fuel sales as a result of establishing licensing arrangements, identifying partners, and developing supply chain infrastructure during the third quarter of 2024.

    Cost of Revenue

    • For the first quarter of 2025, the cost of revenue was $7.5 million as compared to $6.8 million for the first quarter of 2024. The year-over-year increase was driven in part by a change in revenue mix related to a rise in revenue generated by CarbonSmart, which is a lower margin business as compared to biorefining and JDA & Contract Research. Additionally, the biorefining business experienced margin contraction during the first quarter of 2025 as compared to the same period in 2024 as a result of customer mix.

    Operating Expenses

    • For the first quarter of 2025, operating expenses were $33.0 million as compared to $29.6 million for the first quarter of 2024. The year-over-year increase was primarily driven by incremental costs associated with sharpening the business focus, streamlining operations, and evaluating strategic options.

    Net Loss

    • For the first quarter of 2025, net losses were $19.2 million as compared $25.5 million for the first quarter of 2024. Net loss decreased year-over-year primarily as a result of a $17.9 million non-cash gain on financial instruments being recorded in the first quarter of 2025, that was partially offset by expenses incurred associated with evaluating strategic options and a $6.5 million non-cash loss recorded related to equity method investees.

    Adjusted EBITDA Loss

    • For the first quarter of 2025, adjusted EBITDA loss was $30.5 million as compared to $22.1 million for the first quarter of 2024. The increase in adjusted EBITDA loss year-over-year was primarily attributable to higher selling, general and administrative expenses as a result of evaluating strategic options, along with lower revenue and higher cost of sales period-over-period.

    Balance Sheet and Liquidity
    As of March 31, 2025, LanzaTech had $23.4 million in total cash, restricted cash, and investments, compared to total cash of $58.1 million at the end of December 31, 2024. The Company subsequently closed $40 million of preferred equity capital in May of 2025.

    About LanzaTech
    LanzaTech Global, Inc. (NASDAQ: LNZA) is the carbon recycling company transforming waste carbon into sustainable fuels, chemicals, materials, and protein. Using its biorecycling technology, LanzaTech captures carbon generated by energy-intensive industries at the source, preventing it from being emitted into the air. LanzaTech then gives that captured carbon a new life as a clean replacement for virgin fossil carbon in everything from household cleaners and clothing fibers to packaging and fuels. For more information about LanzaTech, please visit https://lanzatech.com.

    Forward Looking Statements
    This press release includes forward-looking statements regarding, among other things, the plans, strategies and prospects, both business and financial, of LanzaTech. These statements are based on the beliefs and assumptions of LanzaTech’s management. Although LanzaTech believes that its plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, LanzaTech cannot assure you that it will achieve or realize these plans, intentions or expectations. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Generally, statements that are not historical facts, including statements concerning possible or assumed future actions, business strategies, events or results of operations, are forward-looking statements. These statements may be preceded by, followed by or include the words “believes,” “estimates,” “expects,” “projects,” “forecasts,” “may,” “will,” “should,” “seeks,” “plans,” “scheduled,” “anticipates,” “intends” or similar expressions. The forward-looking statements are based on projections prepared by, and are the responsibility of, LanzaTech’s management. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside LanzaTech’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements, including the Company’s ability to continue operations as a going concern; the Company’s ability to obtain the stockholder approvals necessary to consummate the subsequent equity financing contemplated by the Series A Convertible Senior Preferred Stock Purchase Agreement, dated May 7, 2025; the Company’s ability to attract new investors and raise substantial additional financing to fund its operations and/or execute on its other strategic options; the Company’s ability to regain compliance with the listing rules of Nasdaq and maintain the listing of its securities on Nasdaq; and the Company’s ability to achieve profitability. LanzaTech may be adversely affected by other economic, business, or competitive factors, and other risks and uncertainties, including those described under the header “Risk Factors” in its Form 10-K for the year ended December 31, 2024, its Form 10-Q for the quarter ended March 31, 2025 and in future SEC filings. New risk factors that may affect actual results or outcomes emerge from time to time and it is not possible to predict all such risk factors, nor can LanzaTech assess the impact of all such risk factors on its business, or the extent to which any factor or combination of factors may cause actual results to differ materially from those contained in any forward-looking statements. Forward-looking statements are not guarantees of performance. You should not put undue reliance on these statements, which speak only as of the date hereof. All forward-looking statements attributable to LanzaTech or persons acting on its behalf are expressly qualified in their entirety by the foregoing cautionary statements. LanzaTech undertakes no obligations to update or revise publicly any forward-looking statements.

    Non-GAAP Financial Measures
    To supplement our financial statements presented in accordance with US GAAP and to provide investors with additional information regarding our financial results, we have presented adjusted EBITDA, a non-GAAP financial measure. Adjusted EBITDA is not based on any standardized methodology prescribed by US GAAP and is not necessarily comparable to similarly titled measures presented by other companies.

    We define adjusted EBITDA as our net loss, excluding the impact of depreciation, interest income, net, stock-based compensation expense, change in fair value of warrant liabilities, change in fair value of Brookfield SAFE liabilities, loss on Brookfield SAFE extinguishment, change in fair value of the FPA Put Option and Fixed Maturity Consideration liabilities, change in fair value of our outstanding convertible note and related transaction costs, change in fair value of Brookfield Loan and(loss) gain from equity method investees. We monitor adjusted EBITDA because it is a key measure used by our management and Board of Directors to understand and evaluate our operating performance, to establish budgets, and to develop operational goals for managing our business. We believe adjusted EBITDA helps identify underlying trends in our business that could otherwise be masked by the effect of certain expenses that we include in net loss. Accordingly, we believe adjusted EBITDA provides useful information to investors, analysts, and others in understanding and evaluating our operating results and enhancing the overall understanding of our past performance and future prospects.

    Adjusted EBITDA is not prepared in accordance with US GAAP and should not be considered in isolation of, or as an alternative to, measures prepared in accordance with US GAAP. There are a number of limitations related to the use of adjusted EBITDA rather than net loss, which is the most directly comparable financial measure calculated and presented in accordance with US GAAP. For example, adjusted EBITDA: (i) excludes stock-based compensation expense because it is a significant non-cash expense that is not directly related to our operating performance; (ii) excludes depreciation expense and, although this is a non-cash expense, the assets being depreciated and amortized may have to be replaced in the future; (iii) excludes gain or losses on equity method investee; and (iv) excludes certain income or expense items that do not provide a comparable measure of our business performance. In addition, the expenses and other items that we exclude in our calculations of adjusted EBITDA may differ from the expenses and other items, if any, that other companies may exclude from adjusted EBITDA when they report their operating results. In addition, other companies may use other measures to evaluate their performance, all of which could reduce the usefulness of our non-GAAP financial measures as tools for comparison.

     
    LANZATECH GLOBAL INC.
    CONSOLIDATED BALANCE SHEETS
    (Unaudited, in thousands, except share and per share data)
     
      March 31,   December 31,
        2025       2024  
    Assets      
    Current assets:      
    Cash and cash equivalents $ 13,778     $ 43,499  
    Held-to-maturity investment securities   7,411       12,374  
    Trade and other receivables, net of allowance   9,058       9,456  
    Contract assets   13,267       18,975  
    Other current assets   14,157       15,030  
    Total current assets   57,671       99,334  
    Property, plant and equipment, net   20,225       22,333  
    Right-of-use assets   28,482       26,790  
    Equity method investment         4,363  
    Equity security investment   14,990       14,990  
    Other non-current assets   4,467       6,873  
    Total assets $ 125,835     $ 174,683  
    Liabilities and Shareholders’ Equity      
    Current liabilities:      
    Accounts payable $ 6,434     $ 5,289  
    Other accrued liabilities   7,506       8,876  
    Warrants   549       3,531  
    Fixed Maturity Consideration and current FPA Put Option liability   4,123       4,123  
    Contract liabilities   5,291       6,168  
    Accrued salaries and wages   2,451       2,302  
    Current lease liabilities   166       158  
    Total current liabilities   26,520       30,447  
    Non-current lease liabilities   30,144       30,619  
    Non-current contract liabilities   5,433       5,233  
    FPA Put Option liability   30,015       30,015  
    Brookfield SAFE liability         13,223  
    Brookfield Loan liability   18,416        
    Convertible Note   15,969       51,112  
    Other long-term liabilities   512       587  
    Total liabilities   127,009       161,236  
           
    Shareholders’ Equity      
    Common stock, $0.0001 par value, 600,000,000 and 600,000,000 shares authorized; 197,897,580 and 194,915,711 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively   19       19  
    Additional paid-in capital   983,991       981,638  
    Accumulated other comprehensive income   3,648       1,393  
    Accumulated deficit   (988,832 )     (969,603 )
    Total shareholders’ equity   (1,174 )     13,447  
    Total liabilities and shareholders’ equity $ 125,835     $ 174,683  
     
    LANZATECH GLOBAL INC.
    CONSOLIDATED STATEMENTS OF OPERATIONS
    (Unaudited, in thousands, except share and per share data)
     
      Three Months Ended March 31,
        2025       2024  
    Revenues:      
    Contracts with customers and grants $ 3,057     $ 6,250  
    CarbonSmart product sales   4,204       863  
    Collaborative arrangements   1,050       2,223  
    Related party transactions   1,172       908  
    Total revenues   9,483       10,244  
    Costs and operating expenses:      
    Contracts with customers and grants(1)   2,902       4,998  
    CarbonSmart product sales(1)   4,136       919  
    Collaborative arrangements(1)   461       796  
    Related party transactions(1)   14       57  
    Research and development expense   16,494       17,061  
    Depreciation expense   781       1,530  
    Selling, general and administrative expense   15,748       11,037  
    Total cost and operating expenses   40,536       36,398  
    Loss from operations   (31,053 )     (26,154 )
    Other income (expense):      
    Interest income, net   438       1,148  
    Other income, net   17,918       179  
    Total other income, net   18,356       1,327  
    Loss before income taxes   (12,697 )     (24,827 )
    Income tax expense          
    Loss from equity method investees, net   (6,532 )     (681 )
    Net loss $ (19,229 )   $ (25,508 )
           
    Other comprehensive loss:      
    Changes in credit risk of fair value instruments   2,696        
    Foreign currency translation adjustments   (441 )     42  
    Comprehensive loss $ (16,974 )   $ (25,466 )
           
    Net loss per common share – basic and diluted $ (0.10 )   $ (0.13 )
    Weighted-average number of common shares outstanding – basic and diluted   196,514,267       196,974,508  
                   
    (1)   exclusive of depreciation              
     
    LANZATECH GLOBAL INC.
    CONSOLIDATED STATEMENTS OF CASH FLOWS
    (Unaudited, in thousands)
     
      Three Months Ended March 31,
        2025       2024  
    Cash Flows From Operating Activities:      
    Net loss $ (19,229 )   $ (25,508 )
    Adjustments to reconcile net loss to net cash used in operating activities:      
    Share-based compensation expense   2,280       2,529  
    Gain on change in fair value of SAFE and warrant liabilities   (2,932 )     (13,277 )
    Loss on Brookfield SAFE extinguishment   6,216        
    Loss on change in fair value of the Brookfield Loan   11,426        
    Loss on change in fair value of the FPA Put Option and the Fixed Maturity Consideration liabilities         13,045  
    Gain on change in fair value of Convertible Note   (35,143 )      
    Provisions for losses on trade and other receivables, net of recoveries   126        
    Depreciation of property, plant and equipment   781       1,530  
    Amortization of discount on debt security investment   (37 )     (360 )
    Non-cash lease expense   490       496  
    Non-cash recognition of licensing revenue   (1,108 )     (641 )
    Loss from equity method investees, net   6,532       681  
    Unrealized (Gain)/Loss on net foreign exchange   275       (224 )
    Changes in operating assets and liabilities:      
    Accounts receivable, net   240       645  
    Contract assets   5,837       (1,029 )
    Accrued interest on debt investment   32       (177 )
    Other assets   895       (3,012 )
    Accounts payable and accrued salaries and wages   1,171       (2,207 )
    Contract liabilities   463       616  
    Operating lease liabilities   (467 )     (485 )
    Other liabilities   1,051       (911 )
    Net cash used in operating activities   (21,101 )     (28,289 )
    Cash Flows From Investing Activities:      
    Purchase of property, plant and equipment   (713 )     (1,480 )
    Proceeds from maturity of debt securities   5,000       10,700  
    Net cash provided by investing activities   4,287       9,220  
    Cash Flows From Financing Activities:      
    Proceeds from issue of equity instruments of the Company         234  
    Repurchase of equity instruments of the Company         (48 )
    Partial settlement of the Brookfield Loan   (12,500 )      
    Net cash (used in)/provided by financing activities   (12,500 )     186  
    Effects of currency translation on cash, cash equivalents and restricted cash   (389 )     48  
    Net decrease in cash, cash equivalents and restricted cash   (29,703 )     (18,835 )
    Cash, cash equivalents and restricted cash at beginning of period   45,737       76,284  
    Cash, cash equivalents and restricted cash at end of period $ 16,034     $ 57,449  
    Supplemental disclosure of non-cash investing and financing activities:      
    Acquisition of property, plant and equipment under accounts payable   255       141  
    Extinguishment of the Brookfield SAFE   13,274        
    Issuance of the Brookfield Loan   (19,490 )      
     
    LANZATECH GLOBAL INC.
    Reconciliation of GAAP Net Loss to Adjusted EBITDA
    (Unaudited, in thousands)
     
      Three Months Ended March 31,
        2025       2024  
    Net Loss $ (19,229 )   $ (25,508 )
    Depreciation   781       1,530  
    Interest income, net   (438 )     (1,148 )
    Stock-based compensation expense and change in fair value of Brookfield SAFE and warrant liabilities (1)   (652 )     (10,748 )
    Loss on Brookfield SAFE extinguishment   6,216        
    Change in fair value of the FPA Put Option and Fixed Maturity Consideration liabilities (net of interest accretion reversal)         13,045  
    Change in fair value of Convertible Note and related transaction costs   (35,143 )      
    Change in fair value of Brookfield Loan   11,426        
    Loss from equity method investees, net   6,532       681  
    Adjusted EBITDA $ (30,507 )   $ (22,148 )
     
    (1)   Stock-based compensation expense represents expense related to equity compensation plans.

    Investor Relations Contact
    Kate Walsh
    VP, Investor Relations & Tax
    Investor.Relations@lanzatech.com

    The MIL Network

  • MIL-OSI: Infinium will deploy Electric Hydrogen’s electrolyzer plant at large-scale eFuels facility in Texas

    Source: GlobeNewswire (MIL-OSI)

    PECOS, Texas, May 19, 2025 (GLOBE NEWSWIRE) — Electric Hydrogen, an American manufacturer of high-power electrolyzer plants, announced today that Infinium, a leading producer of commercial eFuels, has selected Electric Hydrogen’s 100 megawatt (MW) HYPRPlant for its large-scale eFuels facility in Texas, Project Roadrunner.

    Electric Hydrogen’s HYPRPlant is a complete solution that lowers hydrogen total installed project cost by up to 60% relative to other electrolyzer solutions. The company manufactures HYPRPlants in the United States: its proprietary electrochemical stacks are built in Electric Hydrogen’s Massachusetts gigafactory while the chemical process modules are manufactured in Texas, drawing on strong local expertise from the oil and gas industry. Electric Hydrogen’s innovative technology and modular manufacturing approach make the HYPRPlant less expensive and more reliable than imported Chinese product, enhancing American energy technology leadership and competitiveness.

    “We are very pleased to be working with Electric Hydrogen and have been impressed with the HYPRPlant design and commercial package,” said Robert Schuetzle, CEO of Infinium. “Low-cost renewable hydrogen is a critical component to eFuel production, and the industry needs the kind of innovation and thoughtful execution we have seen from Electric Hydrogen.”

    Once production begins, Project Roadrunner—expected to be the largest eFuels production facility in the world—will produce sustainable aviation fuel (eSAF), eDiesel and eNaphtha from CO2, power and water for the aviation, heavy-duty trucking, plastics and maritime sectors. The project will bolster American technological advances and bring skilled jobs and economic growth to West Texas. Many of those workers are expected to bring skills and expertise they developed in the oil and gas sector. The facility is projected to commence commercial e-fuels production in 2027.

    “This cutting-edge project exemplifies how low-cost, industrial-scale clean hydrogen production will drive new markets for American-made fuels and support the buildout of domestic manufacturing facilities,” said Raffi Garabedian, Electric Hydrogen’s CEO and Co-founder. “We’re honored to be selected as Infinium’s electrolyzer manufacturer of choice.”

    Brookfield Asset Management and Breakthrough Energy Catalyst are financing partners for Infinium’s Project Roadrunner, making it the world’s first large-scale project-financed eFuels project. The project will supply sustainable aviation fuel over a 10-year period to International Airlines Group (IAG), one of the largest airline companies in the world through subsidiaries Aer Lingus, British Airways, Iberia, LEVEL and Vueling.

    This project announcement follows the unveiling of HYPRPlant, the announcement of Electric Hydrogen’s strategic partnership with Texas-based Titan Production Equipment and the company’s selection as Uniper’s exclusive electrolysis partner for the 200MW Green Wilhemshaven project in Northern Germany.

    To learn more about Electric Hydrogen’s HYPRPlant, visit https://eh2.com/.

    About Electric Hydrogen 
    Electric Hydrogen manufactures, delivers and commissions the world’s most powerful electrolyzers to make clean hydrogen projects economically viable today. The company’s complete HYPRPlant includes all system components required to turn water and electricity into the lowest cost clean hydrogen. Electric Hydrogen has a team of more than 300 people in the United States and Europe. The company was founded in 2020 and is headquartered in Devens, Massachusetts. To learn more about how critical industries leverage Electric Hydrogen’s advanced proton exchange membrane (PEM) technology, visit https://eh2.com/.

    About Infinium
    Infinium is a leading provider of gas conversion solutions and developer of eFuels projects. Our offerings include ultra-low carbon synthetic eFuels, solutions enabling monetization of flare gas and RNG, and patented technology designed to support the rapidly evolving energy industry. Infinium is a company of “firsts”—the first to produce commercial volumes of power-to-liquid clean eFuels; the first to develop and deploy modular gas conversion technology; and the only clean fuels innovator offering end-to-end solutions to customers at every step in their energy journey. Industry leaders including Amazon, American Airlines, Borealis and IAG are customers of Infinium. Learn more at www.infiniumco.com.

    Contact
    V2 Communications for Electric Hydrogen
    electrichydrogen@v2comms.com

    Photos accompanying this announcement are available at:

    https://www.globenewswire.com/NewsRoom/AttachmentNg/3117612d-0390-47a5-95db-6815670b9948

    https://www.globenewswire.com/NewsRoom/AttachmentNg/99612c8f-dd87-434c-af24-cb006611fd8a

    The MIL Network

  • MIL-OSI Russia: Huawei Introduces Laptops Based on Its Own Operating System

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

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

    CHENGDU, May 19 (Xinhua) — Chinese tech giant Huawei on Monday unveiled two new laptops powered by its own operating system (OS) HarmonyOS, marking the debut of the company’s proprietary OS in the personal computer (PC) market.

    The launch of PC models like the Huawei MateBook Pro and MateBook Fold Ultimate Design signal the company’s intention to expand the reach of HarmonyOS beyond smartphones and tablets, entering the PC market that has been dominated for decades by Microsoft Windows and Apple macOS.

    At a launch event in Chengdu, capital of Sichuan Province, southwest China, Huawei CEO Yu Chengdong said that through the deep integration of software, hardware, end devices and cloud technologies, computers based on HarmonyOS will fundamentally change the user experience of using a PC.

    HarmonyOS, or Hongmeng in Chinese, is an open-source operating system designed for a variety of devices and scenarios, including smart screens, tablets, wearables, and cars. It was first launched in August 2019. -0-

    MIL OSI Russia News

  • MIL-OSI: LIS Technologies Inc. to Unleash American Energy: Closing of Third Consecutive Oversubscribed Funding Round of $11.93M and Totaling Over $47M to Rebirth the Only United States Origin and Patented Technology for Laser Uranium Enrichment

    Source: GlobeNewswire (MIL-OSI)

    Oak Ridge, Tennessee, May 19, 2025 (GLOBE NEWSWIRE) — LIS Technologies Inc. (“LIST” or “the Company”), a proprietary developer of advanced laser technology and the only USA-origin and patented laser uranium enrichment company, today announced that it has closed its third consecutive oversubscribed funding round of $11.93 million and now totaling over $47 Million raised to date. The round drew continued support from repeat investors, including Innovating Capital, alongside other prominent, seasoned and industry investors in advanced nuclear technology.

    Due to a growing appetite within the United States for a robust domestic nuclear fuel supply chain, alongside strong support from returning investors, the Company’s recent financing round was oversubscribed. The raise underscores LIST’s position as an emerging leader in the United States enriched uranium fuel market and validates the Company’s success in attracting and retaining top researchers, scientists, regulatory experts and former U.S. national leaders to help drive the revival of the nation’s only patented laser‑enrichment technology.

    “Despite the volatile market conditions of this year, we continue to deliver on our objectives, and investors clearly recognize the value of our progress,” said Jay Yu, Executive Chairman and President of LIS Technologies Inc. “This marks our third consecutive oversubscribed financing round, highlighting investor’s confidence in LIST’s seasoned management team and our mission to revive the only U.S.‑origin, patented laser enrichment technology, which was independently evaluated and determined to meet all elements required for TRL-4, conforming to the Department of Energy guide DOE G 413.3-4A. We are here to answer the call and help build back the United States’ nuclear capabilities, support a reliable, robust domestic fuel supply for current civil nuclear reactors, microreactors, small modular reactors and to truly unleash American energy.”

    In late 2024, LIS Technologies Inc. was selected as one of six domestic companies to participate in the Low-Enriched Uranium (LEU) Enrichment Acquisition Program. This initiative allocates up to $3.4 billion overall, with contracts lasting for up to 10 years. Each awardee is slated to receive a minimum contract of $2 million.

    The Company’s proprietary Condensation Repression Isotope Selective Laser Activation (CRISLA) technology is the world’s only proven U.S.-origin and patented advanced laser enrichment solution. Optimized for Low-Enriched Uranium (LEU), which is crucial for the continued operation of the United States’ current fleet of 94 nuclear reactors, and High-Assay Low-Enriched Uranium (HALEU), which is required to power the next generation of advanced nuclear reactors, CRISLA overcomes many of the complexities and limitations of traditional 16um CO2 lasers, featuring a streamlined design due to its lower absorption and shorter wavelength at 5.3µm. The CRISLA-3G laser isotope separation technology was recently evaluated and determined to meet all elements required for TRL-4, conforming to the Department of Energy guide DOE G 413.3-4A and is protected by a patent from the United States Patent and Trademark Office (USPTO).

    “The success of this and our previous raises underscores the confidence that investors have in our mission, team and technology,” said Christo Liebenberg, Co-Founder and CEO of LIS Technologies Inc. “This raise will enable us to continue growing operations, add more senior technical engineers, regulatory leaders and to rapidly advance our projects, which would be closer to demonstration activities crucial for meeting the Company’s growth objectives.”

    The funding secured in this raise will enable the Company to advance into its next phase of growth. This includes systems engineering, integration and testing of our Test Demonstration Facility in our newly upgraded laboratories in Oak Ridge TN, while also developing LIST’s own proprietary lasers in the United States. Our goal over the next couple years is to not only repeat earlier baseline results, but to optimize it, and then demonstrate that our technology can produce LEU in a single stage, and HALEU in two stages, with fully scaled and industrialized equipment. The funding also allows us to diversify the CRISLA technology into stable isotopes and medical isotopes.

    About LIS Technologies Inc.

    LIS Technologies Inc. (LIST) is a USA based, proprietary developer of a patented advanced laser technology, making use of infrared lasers to selectively excite the molecules of desired isotopes to separate them from other isotopes. The Laser Isotope Separation Technology (L.I.S.T) has a huge range of applications, including being the only USA-origin (and patented) laser uranium enrichment company, and several major advantages over traditional methods such as gas diffusion, centrifuges, and prior art laser enrichment. The LIST proprietary laser-based process is more energy-efficient and has the potential to be deployed with highly competitive capital and operational costs. L.I.S.T is optimized for LEU (Low Enriched Uranium) for existing civilian nuclear power plants, High-Assay LEU (HALEU) for the next generation of Small Modular Reactors (SMR) and Microreactors, the production of stable isotopes for medical and scientific research, and applications in quantum computing manufacturing for semiconductor technologies. The Company employs a world class nuclear technical team working alongside leading nuclear entrepreneurs and industry professionals, possessing strong relationships with government and private nuclear industries.

    In 2024, LIS Technologies Inc. was selected as one of six domestic companies to participate in the Low-Enriched Uranium (LEU) Enrichment Acquisition Program. This initiative allocates up to $3.4 billion overall, with contracts lasting for up to 10 years. Each awardee is slated to receive a minimum contract of $2 million.

    For more information please visit: LaserIsTech.com

    For further information, please contact:
    Email: info@laseristech.com
    Telephone: 800-388-5492
    Follow us on X Platform
    Follow us on LinkedIn

    Forward Looking Statements

    This news release contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. In this context, forward-looking statements mean statements related to future events, which may impact our expected future business and financial performance, and often contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “will”, “should”, “could”, “would” or “may” and other words of similar meaning. These forward-looking statements are based on information available to us as of the date of this news release and represent management’s current views and assumptions. Forward-looking statements are not guarantees of future performance, events or results and involve known and unknown risks, uncertainties and other factors, which may be beyond our control. For LIS Technologies Inc., particular risks and uncertainties that could cause our actual future results to differ materially from those expressed in our forward-looking statements include but are not limited to the following which are, and will be, exacerbated by any worsening of global business and economic environment: (i) risks related to the development of new or advanced technology, including difficulties with design and testing, cost overruns, development of competitive technology, loss of key individuals and uncertainty of success of patent filing, (ii) our ability to obtain contracts and funding to be able to continue operations and (iii) risks related to uncertainty regarding our ability to commercially deploy a competitive laser enrichment technology, (iv) risks related to the impact of government regulation and policies including by the DOE and the U.S. Nuclear Regulatory Commission; and other risks and uncertainties discussed in this and our other filings with the SEC. Only after successful completion of our Phase 2 Pilot Plant demonstration will LIS Technologies be able to make realistic economic predictions for a Commercial Facility. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this news release. These factors may not constitute all factors that could cause actual results to differ from those discussed in any forward-looking statement. Accordingly, forward-looking statements should not be relied upon as a predictor of actual results. We do not undertake to update our forward-looking statements to reflect events or circumstances that may arise after the date of this news release, except as required by law.

    The MIL Network

  • MIL-OSI: Dimensional Fund Advisors Ltd. : Form 8.3 – DALATA HOTEL GROUP PLC – Ordinary Shares

    Source: GlobeNewswire (MIL-OSI)

    FORM 8.3

    IRISH TAKEOVER PANEL

    OPENING POSITION DISCLOSURE/DEALING DISCLOSURE UNDER
    RULE 8.3 OF THE IRISH TAKEOVER PANEL ACT, 1997, TAKEOVER
    RULES, 2022 BY PERSONS WITH INTERESTS IN RELEVANT
    SECURITIES REPRESENTING 1% OR MORE

    1. KEY INFORMATION  
       
    (a) Full name of discloser Dimensional Fund Advisors Ltd. in its capacity as investment advisor and on behalf its affiliates who are also investment advisors (”Dimensional”). Dimensional expressly disclaims beneficial ownership of the shares described in this form 8.3.  
    (b) Owner or controller of interests and short positions disclosed, if different from 1(a)
    The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.
       
    (c) Name of offeror/offeree in relation to whose relevant securities this form relates
    Use a separate form for each offeror/offeree
    Dalata Hotel Group PLC  
    (d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree    
    (e) Date position held/dealing undertaken
    For an opening position disclosure, state the latest practicable date prior to the disclosure
    16 May 2025  
    (f) In addition to the company in 1(c) above, is the discloser also making disclosures in respect of any other party to the offer?
    If it is a cash offer or possible cash offer, state “N/A”
    N/A  
       
    2. INTERESTS AND SHORT POSITIONS  
       
    If there are interests and short positions to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2 for each additional class of relevant security  
    Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)  
       
    Class of relevant security $0.01 ordinary shares (IE00BJMZDW83)  
      Interests Short Positions  
      Number % Number %  
    (1) Relevant securities owned and/or controlled 4,936,564 2.33 %      
    (2) Cash-settled derivatives          
    (3) Stock-settled derivatives (including options) and agreements to purchase/ sell          
      Total 4,936,564 2.33 %      
       
       
    All interests and all short positions should be disclosed.

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

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

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

     
    (a) Purchases and sales  
       
    Class of relevant security Purchase/sale Number of securities Price per unit  
    $0.01 ordinary shares (IE00BJMZDW83) Purchase 6,284 5.3743 EUR  
    There was a Transfer In of 3,580 shares of $0.01 ordinary shares  
       
    (b) Cash-settled derivative transactions  
       
    Class of relevant security Product description e.g. CFD Nature of dealing e.g. opening/ closing a long/ short position, increasing/ reducing a long/ short position Number of reference securities Price per unit  
               
       
    (c) Stock-settled derivative transactions (including options)
     
    (i) Writing, selling, purchasing or varying
     
    Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type e.g. American, European etc. Expiry date Option money paid/ received per unit
                   
       
    (ii) Exercise  
       
    Class of relevant security Product description e.g. call option Exercising/ exercised against Number of securities Exercise price per unit  
               
       
    (d) Other dealings (including transactions in respect of new securities)  
                 
    Class of relevant security Nature of dealing e.g. subscription, conversion, exercise Details Price per unit (if applicable)  
             
       
    4. OTHER INFORMATION  
       
    (a) Indemnity and other dealing arrangements  
       
    Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer.
    Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”
     
    None  
       
    (b) Agreements, arrangements or understandings relating to options or derivatives  
       
    Full details of any agreement, arrangement or understanding between the person disclosing and any other person relating to the voting rights of any relevant securities under any option referred to on this form or relating to the voting rights or future acquisition or disposal of any relevant securities to which any derivative referred to on this form is referenced. If none, this should be stated.  
    None  
       
    (c) Attachments  
       
    Is a Supplemental Form 8 attached? NO  
       
    Date of disclosure 19 May 2025  
    Contact name Thomas Hone  
    Telephone number +44 20 3033 3419  
       

    Public disclosures under Rule 8.3 of the Rules must be made to a Regulatory Information Service.

    The MIL Network

  • MIL-OSI Video: Army Special Operations Helicopters being AWESOME for 12 minutes straight | ASMR | Army Lethality

    Source: US Army (video statements)

    Just because we like you, here’s footage of the 160th Special Operations Aviation Regiment training. You’re welcome.

    Video by 160 PAO

    About the U.S. Army:

    The Army Mission – our purpose – remains constant: To deploy, fight and win our nation’s wars by providing ready, prompt & sustained land dominance by Army forces across the full spectrum of conflict as part of the joint force.

    Interested in joining the U.S. Army?
    Visit: spr.ly/6001igl5L

    Connect with the U.S. Army online:
    Web: https://www.army.mil
    Facebook: https://www.facebook.com/USarmy/
    X: https://www.twitter.com/USArmy
    Instagram: https://www.instagram.com/usarmy/
    LinkedIn: https://www.linkedin.com/company/us-army
    #USArmy #Soldiers #Military #Army

    https://www.youtube.com/watch?v=RE7aInaqK6w

    MIL OSI Video

  • MIL-OSI United Kingdom: PM secures new agreement with EU to benefit British people

    Source: United Kingdom – Executive Government & Departments

    News story

    PM secures new agreement with EU to benefit British people

    UK secures new agreement with the European Union to support British businesses, back British jobs, and put more money in people’s pockets.

    • UK secures new agreement with the European Union to support British businesses, back British jobs, and put more money in people’s pockets.
    • Package will help make food cheaper, slash red tape, open up access to the EU market and add nearly £9 billion to the UK economy by 2040.
    • Prime Minister hails agreement as ‘good for jobs, good for bills, and good for our borders’.

    The Prime Minister has today confirmed a new agreement with the European Union which will deliver on his core mission to grow the economy, back British jobs and put more money in people’s pockets.

    Extensive negotiations over the last six months have led to the third major deal struck by the government in as many weeks, following the US and India – which the Prime Minister says will be “good for jobs, good for bills and good for our borders”.

    As part of the deal, a new SPS agreement will make it easier for food and drink to be imported and exported by reducing the red tape that placed burdens on businesses and led to lengthy lorry queues at the border. This agreement will have no time limit, giving vital certainty to businesses.

    Some routine checks on animal and plant products will be removed completely, allowing goods to flow freely again, including between Great Britain and Northern Ireland. Ultimately this could lower food prices and increase choice on supermarket shelves – meaning more money in people’s pockets. 

    The EU is the UK’s largest trading partner. After the 21% drop in exports and 7% drop in imports seen since Brexit, the UK will also be able to sell various products, such as burgers and sausages, back into the EU again, supporting these vital British industries.

    Closer co-operation on emissions through linking our respective Emissions Trading Systems will improve the UK’s energy security and avoid businesses being hit by the EU’s carbon tax due to come in next year – which would have sent £800 million directly to the EU’s budget.

    Combined, the SPS and Emissions Trading Systems linking measures alone are set to add nearly £9 billion to the UK economy by 2040, in a huge boost for growth.

    British steel exports are protected from new EU rules and restrictive tariffs, through a bespoke arrangement for the UK that will save UK steel £25 million per year.  

    The UK will enter talks about access to EU facial images data for the first time, on top of the existing arrangements for DNA, fingerprint and vehicle registration data. This will enhance our ability to catch dangerous criminals and ensure they face justice more quickly. 

    British holidaymakers will be able to use more eGates in Europe, ending the dreaded queues at border control. Pets will also be able to travel more easily, with the introduction of ‘pet passports’ for UK cats and dogs – eliminating the need for animal health certificates for every trip.

    Prime Minister Keir Starmer will say:

    It’s time to look forward. To move on from the stale old debates and political fights to find common sense, practical solutions which get the best for the British people.

    We’re ready to work with partners if it means we can improve people’s lives here at home.

    So that’s what this deal is all about – facing out into the world once again, in the great tradition of this nation. Building the relationships we choose, with the partners we choose, and closing deals in the national interest. Because that is what independent, sovereign nations do.

    Today will also see the agreement of the new Security and Defence Partnership, which will pave the way for the UK defence industry to participate in the EU’s proposed new £150 billion Security Action for Europe (SAFE) defence fund – supporting thousands of British jobs and boosting growth.

    At a time of increasing global uncertainty and volatility, this will formalise UK-EU co-operation on defence to ensure Europe’s safety and security.

    Minister for European Union Relations and lead Government negotiator, Nick Thomas-Symonds said:

    Today is a historic day, marking the opening of a new chapter in our relationship with the EU that delivers for working people across the UK.

    Since the start of these negotiations, we have worked for a deal to make the British people safer, more secure and more prosperous. Our new UK-EU Strategic Partnership achieves all three objectives. It delivers on jobs, bills and borders. Today is a day of delivery. Britain is back on the world stage with a Government in the service of working people.

    The UK and the EU have also agreed to co-operate further on a youth experience scheme – which could see young people able to work and travel freely in Europe again. The scheme, which would be capped and time-limited, would mirror existing schemes the UK has with countries such as Australia and New Zealand.

    The Prime Minister is clear that bringing down migration remains an absolute priority for him, which is why today’s agreement also majors on further work on finding solutions to tackle illegal migration – including on returns and a joint commitment to tackle channel crossings.

    The UK and EU have also reached a new twelve year agreement that protects Britain’s fishing access, fishing rights and fishing areas with no increase in the amount of fish EU vessels can catch in British waters, providing stability and certainty for the sector. The UK will also back coastal communities by investing £360 million into our fishing industry to go towards new technology and equipment to modernise the fleet, training to help upskill the workforce, and funding to help revitalise coastal communities, support tourism and boost seafood exports. The British fleet will also benefit from the SPS agreement which slashes costs and red tape to help exports.

    This agreement meets the red lines set out in the government’s manifesto – no return to the single market, no return to the customs union, and no return to freedom of movement.

    The UK will continue to hold talks with the European Union on the details of each commitment.

    Updates to this page

    Published 19 May 2025

    MIL OSI United Kingdom

  • MIL-OSI Europe: Pope Leo: a united and missionary Church which becomes a ‘leaven’ for a reconciled world

    Source: Agenzia Fides – MIL OSI

    Sunday, 18 May 2025   pope  

    VaticanMedia

    Vatican City (Agenzia Fides) – “you have made us for yourself, and our heart is restless until it rests in you”, said Pope Leo XIV,addressing the many people gathered in St. Peter’s Square, the pilgrims who have come from all over the world to be close to him at the Mass marking the beginning of his Petrine ministry as Bishop of Rome. He looked out at the people, the representatives of the official delegations, the sister Churches, and other faith communities, and began his homily by quoting St. Augustine.Before the solemn Eucharistic celebration, which took place in the parvis of the Vatican Basilica, Pope Leo prayed at the tomb of St. Peter together with the Patriarchs of the Eastern Churches.During the Eucharistic celebration, the solemn presentation of the insignia marking the beginning of the pontificate took place. Cardinal Mario Zenari placed the pallium around the Pope’s neck. Cardinal Luis Antonio Tagle presented him with the Fisherman’s Ring.In his homily, Pope Leo spoke about the task that awaits him and the entire Church in a torn and wounded world.The “intense emotions” in these daysThe death of Pope Francis, according to the Bishop of Rome, and the “intense emotions” in these days, “has filled our hearts with sadness.” These were “difficult hours” in which “we felt like the crowds that the Gospel says were “like sheep without a shepherd”. Then, on Easter Sunday, we received his final blessing and, in the light of the resurrection, we experienced the days that followed in the certainty that the Lord never abandons his people, but gathers them when they are scattered and guards them “as a shepherd guards his flock”.”In the Conclave, the Cardinals, “from different backgrounds and experiences,” placed in God’s hands “the desire to elect the new Successor of Peter, the Bishop of Rome, a shepherd capable of preserving the rich heritage of the Christian faith and, at the same time, looking to the future, in order to confront the questions, concerns and challenges of today’s world.”The Love of God comes first”I was chosen, without any merit of my own,” Pope Leo said, “and I come to you as a brother, who desires to be the servant of your faith and your joy, walking with you on the path of God’s love, for he wants us all to be united in one family.” For “love and unity” are “the two dimensions of the mission entrusted to Peter by Jesus.”The mission that Christ entrusted to Peter and the first disciples, Pope Leo said, referring to the Gospel, “is the mission he received from the Father: to be a “fisher” of humanity in order to draw it up from the waters of evil and death.” And Peter, according to the Bishop of Rome, his successor, can only fulfill this task “because his own life was touched by the infinite and unconditional love of God, even in the hour of his failure and denial.” Only “if you have known and experienced this love of God, which never fails, will you be able to feed my lambs. Only in the love of God the Father will you be able to love your brothers and sisters with that same ‘more’, that is, by offering your life for your brothers and sisters.”Peter is thus “entrusted with the task of “loving more” and giving his life for the flock.” His successors are also called to this task, “because,” Pope Leo continues, “the Church of Rome presides in charity and its true authority is the charity of Christ.” Therefore, it is never a question of “capturing others by force, by religious propaganda or by means of power. Instead, it is always and only a question of loving as Jesus did.””Christ himself,” says Pope Leo, quoting the Apostle Peter in the Acts of the Apostles, “is the stone that was rejected by you, the builders, and has become the cornerstone” on which the Church is built. And if “the rock is Christ, Peter must shepherd the flock without ever yielding to the temptation to be an autocrat, lording it over those entrusted to him.” “On the contrary,” the new Bishop of Rome continued, “he is called to serve the faith of his brothers and sisters, and to walk alongside them.”A united Church for a reconciled world”I would like,” Pope Leo addressed his brothers and sisters, “that our first great desire be for a united Church, a sign of unity and communion, which becomes a leaven for a reconciled world.” In our time, Pope Leo admits, we still see “too much discord, too many wounds caused by hatred, violence, prejudice, the fear of difference, and an economic paradigm that exploits the Earth’s resources and marginalises the poorest.” Christians are called to be “a small leaven of unity, communion and fraternity within the world. We want to say to the world, with humility and joy: Look to Christ! Come closer to him! Welcome his word that enlightens and consoles! Listen to his offer of love and become his one family: in the one Christ, we are one,” the Pope exhorts, referring to the words of St. Augustine, which he has chosen as his episcopal motto. He thus points to the path “to follow together, among ourselves but also with our sister Christian churches, with those who follow other religious paths, with those who are searching for God, with all women and men of good will, in order to build a new world where peace reigns!”A “missionary Church” that allows itself to be made restless by historyThis is the “missionary spirit,” Pope Leo continued, “that must animate us; not closing ourselves off in our small groups, nor feeling superior to the world. We are called to offer God’s love to everyone, in order to achieve that unity which does not cancel out differences but values the personal history of each person and the social and religious culture of every people.” The missionary Church, which can grow “in the light and power of the Holy Spirit,” is “a Church that opens its arms to the world, proclaims the word, allows itself to be made “restless” by history, and becomes a leaven of harmony for humanity.” “Together, as one people, as brothers and sisters, let us walk towards God and love one another”, Pope Leo urges at the conclusion of his homily.Before the Regina Coeli prayer, Pope Leo emphasized that during the Mass he “strongly felt the spiritual presence of Pope Francis accompanying us from heaven.” “Reflecting on our participation in the communion of saints, I recall that yesterday in Chambéry, France, the priest Camille Costa de Beauregard, was beatified. He lived from the end of the 1800s to the beginning of the 1900s, and was a witness of great pastoral charity.”The Bishop of Rome also turned his thoughts to the brothers and sisters “who are suffering because of war. In Gaza, the surviving children, families and elderly are reduced to starvation. In Myanmar, new hostilities have cut short innocent young lives. Finally, war-torn Ukraine awaits negotiations for a just and lasting peace,” Pope Leo XIV said. (GV) (Agenzia Fides, 18/5/2025)
    Share:

    MIL OSI Europe News

  • MIL-OSI: Toobit Strengthens European Presence as Platinum Sponsor of Dutch Blockchain Week 2025

    Source: GlobeNewswire (MIL-OSI)

    GEORGE TOWN, Cayman Islands, May 19, 2025 (GLOBE NEWSWIRE) — Toobit, an award-winning cryptocurrency exchange, will be participating in the upcoming Dutch Blockchain Week 2025 (DBW25) happening from May 19 to 25 as a Platinum Sponsor. The exchange will also be hosting a booth happening at the event’s Dutch Blockchain Summit, which will be held at Amsterdam’s Meervaart Theater on May 21 and 22.

    DBW25 is one of Europe’s leading blockchain gatherings, bringing together industry leaders, developers, investors, and regulators to explore innovations in digital assets and decentralized technologies. Organized by the BCNL Foundation, the largest Web3 ecosystem in the Netherlands, the event will serve as a hub for collaboration and knowledge-sharing, showcasing the evolving role of blockchain technology in finance and beyond.

    “We’re excited to be part of Dutch Blockchain Week, where some of the most important conversations around blockchain technology take place,” said Mike Williams, Chief Communication Officer of Toobit. “We look forward to building on meaningful discussions and exploring new innovations and opportunities in the space.”

    Toobit’s participation in the event comes on the heels of its successful participation in Web3 Amsterdam earlier this year, where the exchange similarly took on the role of Platinum Sponsor. The cryptoasset exchange had then mentioned its burgeoning presence in the Netherlands, as well as its intent to reach out to physically meet and engage its collaborators within the European crypto ecosystem.

    Dutch Blockchain Week provides a key platform for discussing emerging trends in security, accessibility, and innovations in crypto trading. Toobit joins a global network of professionals shaping the future of digital finance, contributing to the industry’s ongoing evolution. At the event, Toobit will also showcase its latest trading solutions, explore partnerships, and connect with the broader blockchain community.

    For more information on Dutch Blockchain Week 2025, visit https://dutchblockchainweek.com/

    About Toobit

    Toobit is where the future of crypto trading unfolds—an award-winning cryptocurrency derivatives exchange built for those who thrive exploring new frontiers. With deep liquidity and cutting-edge technology, Toobit empowers traders worldwide to navigate the digital asset markets with confidence. We offer a fair, secure, seamless, and transparent trading experience, ensuring every trade is an opportunity to discover what’s next.

    For more information about Toobit, visit: Website | X | Telegram | LinkedIn | Discord | Instagram

    Contact: Davin C.

    Email: market@toobit.com

    Website: www.toobit.com

    Disclaimer: This is a paid post and is provided by Toobit. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.

    Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0ea5067d-f871-42b3-9943-971a00218907

    The MIL Network

  • MIL-OSI United Kingdom: Education Secretary gives keynote speech at Education World Forum

    Source: United Kingdom – Executive Government & Departments

    Speech

    Education Secretary gives keynote speech at Education World Forum

    Education Secretary Bridget Phillipson’s speech on the use of EdTech to improve opportunity in education at the Education World Forum.

    Hello everyone, and thank you all for being here.

    It’s wonderful to see everyone together in the same place – the biggest gathering of education ministers anywhere in the world!

    And what a fitting location. Just next door is the Methodist Central Hall, where almost 80 years ago the United Nations General Assembly met for the first time.

    And we also sit in the shadow of Westminster Abbey, a place which marks the memories of so many inspirational figures, men and women who still light up our classrooms centuries on.

    Isaac Newton, Stephen Hawking, and Charles Darwin are all buried there.

    Jane Austen and the three Brontë sisters each have a plaque – next to the statue of William Shakespeare.

    And close by lies the grave of Charles Dickens, whose stories I grew up reading, whose characters I loved.

    Oliver Twist, David Copperfield, Pip and his great expectations.

    The abandoned children of Victorian London, held back, time and again, by the tough luck of a bad start.

    I was always drawn to Dickens because he was never afraid to confront social injustice.

    The daily, grinding poverty that kept opportunity out of the reach of millions.

    There’s been plenty of progress since those darker days.

    And thankfully, London looks very different today.

    But much of the inequality, the injustice remains.

    Opportunity still lies beyond the grasp of too many people – here in this country and around the world too.

    We have so far to go on our journey to cut the link between background and success.

    That’s our job as education leaders, to give not just some children but all children the opportunity to succeed, regardless of background, to make that old dream new again for each generation.

    There are well over a hundred countries and territories represented here today. Well over a hundred different education systems. Well over a hundred different sets of challenges.

    But we can come together around one common cause. Opportunity.

    That’s what education is all about. Opportunity for all children – to learn, to discover, to go on and live a good life.

    So that every child knows, deep down in their bones, that success belongs to them.

    That’s my mission for the children of this country, it’s the mission of our government. Because background shouldn’t mean destiny.

    But the barriers we face are huge – here in the UK and across the globe.

    250 million children still out of school around the world.

    70% of children in low- and middle-income countries unable to read at the end of their basic education.

    A pandemic that saw schools all over the world close their gates, classrooms empty, playgrounds silent, a global generation of children falling behind.

    Challenges of this scale demand the fresh solutions of the future, not the stale systems of the past.

    We must squeeze every last drop of value out of every last pound of funding.

    And technology will lead the way.

    The opportunities of EdTech are huge. It’s a wave of innovation that can lift the learning of billions.

    But to be clear about what technology can do, first we need to be clear what it cannot do.

    It can’t replace great teachers.

    They are the heart, they are the soul of every school.

    That was true 500 years ago. It’ll be true in 500 more.

    Education is a deeply human gift, given by one generation to the next.

    Opportunity passed from one generation to the next.

    But EdTech can take that gift and make it stronger, spread it further, share it with more children.

    It can be the radical force that brings the very best education into every city, every town, every village, every school, every classroom in the world.

    It can help us to reach learners who might otherwise be left out – because they have a disability, their parents are poor, they don’t speak a certain language, or simply because they’re a girl.

    EdTech can help us tear down those barriers.

    Here in this country, we’re using it to free up teachers time to spend more time teaching.

    For children that means more attention, higher standards, better life chances.

    For teachers – less paperwork, lower stress, fewer drains on their valuable time. 

    My department is continuing to support Oak National Academy, an online hub of resources for teachers, whose AI lesson assistant is helping teachers to plan personalised lessons in minutes.

    Making the most of teacher time is one of the challenges we all face.

    Another is attendance – getting children back in the classroom, especially since covid.

    Our response is rooted in our world-class data, where schools can use an interactive dashboard to drive early intervention.

    And it’s working. We’ve lost 3 million fewer days to absence this year than last.

    And now we’re using AI to go further and faster.

    Just last week we launched a brand new AI-powered tool, which we think is amongst the first of its kind in the world.

    Every mainstream school in the country can access reports right now to benchmark their attendance against 20 similar schools.

    They highlight what schools are doing well, and where they need targeted intervention and support.

    That’s the kind of cutting-edge insight schools need to get attendance moving.

    But, despite its huge power, we know that AI isn’t a magic wand.

    EdTech can light up the next century of education – and I believe it will – but there are no guarantees.

    So getting AI on the right track now is the most important challenge for global education in a generation.

    And we have far to go to deliver the scale of progress that I know is possible.

    Our evidence-base is too narrow, too shallow, too concentrated in certain parts of the world, too focused on certain parts of the system.

    More research is needed; better research is needed.

    On impact.

    On value.

    On sustainability.

    And on safety.

    We need to come together to grow a global, collective consensus – a suite of effective tools, built on top-class evidence.

    That’s how, together, we can make sure EdTech and AI deliver the very best learning for children.

    And on this the UK will lead the way.

    This government’s EdTech hub – led by our Foreign, Commonwealth and Development Office – brings together research and policy organisations working to bridge the EdTech evidence gap.

    The Hub is here to support and empower government leaders, giving you the evidence that you need to roll out and scale up EdTech effectively and responsibly.

    The Hub is leading, and the UK is funding, the AI Observatory and Action Lab – supporting leaders in low- and middle-income countries to use AI in education.

    And we are continuing the change here at home with our new Content Store Project.

    We’re pooling a vast range of high-quality content – from curriculum guidance to teaching resources, from lessons plans to anonymised pupil work.

    And we’re making it available to AI companies to train their tools – so that they can generate top quality content for use in our classrooms.

    And we’re putting AI to work in a way that’s most useful for teachers, and most beneficial for students.

    But now we want to go further, to share our expertise, to work with our partners around the world to grow that collective consensus.

    So I am delighted to announce today that we are funding the development of global guidelines for generative AI in education.

    Working closely with partners at the OECD, we are shaping the global consensus on how generative AI can be deployed safely and effectively to boost education around the world.

    But everyone here today will know that guidelines are only ever as good as their implementation.

    Because what really matters is firm action in our classrooms, not abstract promises on a page.

    That’s why today I can announce that the UK will host an international summit on generative AI in education in 2026.

    Education leaders from around the world will come together to implement these guidelines – for the benefit of our children, young people and learners the world over.

    And we’ll continue to build the evidence base at home too.

    So I’m pleased to announce today that my department is investing more than a million pounds to test the Edtech we’re using in schools and colleges.

    Working with the Open Innovation Team, we’ll be engaging the sector to understand what works.

    We’ll look at how tools, including AI, can improve things like staff workload, pupil outcomes and inclusivity.

    Evidence must be at the heart of all we do, on EdTech and right across education.

    Here in the UK, we’re lucky to have the Education Endowment Foundation.

    The Foundation is at the forefront of research on how children learn.

    And my officials work hand in hand with their experts to make sure all our policies and programmes are driven by the very best evidence.

    We need to be at the top of our game.

    We’ve spoken about the challenges specific to education, but there are wider global challenges, that spill into our schools and colleges.

    Growing economic uncertainty, shifting labour markets, the flood of disinformation around social media.

    These are shared challenges that demand shared solutions.

    Solutions powered by technology, backed by evidence.

    But collaboration is key. We can’t do this alone.

    Learning from each other, sharing evidence, sharing data.

    The UK is here to convene, to accelerate and to celebrate all that is best in global education.

    And in the coming months we’ll publish our refreshed International Education Strategy.

    At its heart will be collaboration.

    Building partnerships that are meaningful, partnerships that matter, partnerships that, above all else, make a difference in the lives of the people we serve.

    That’s what sets apart those men and women whom we remember in Westminster Abbey. They made a difference in people’s lives.

    The scientists and engineers, the poets and playwrights, the doctors and nurses.

    Most of their deeds were done and dusted centuries ago. But their legacy lives on.

    EdTech is now bringing the wonders of the Abbey to a whole new generation of children.

    From the Anglo-Saxons to the Tudors, from the majesty of coronations to the drudgery of everyday medieval life.

    Abbey experts run virtual classrooms and virtual tours for schools unable to visit in person – so that every child can learn about this building which has been at the heart of our national life for a thousand years.

    So that no child has to miss out.

    That’s what EdTech is all about, what education is all about, opportunity for all of our children.

    Because let’s not forget, this is for them.

    For every child, for every young person, for every adult around the world who deserves the opportunity to learn.

    That’s why we have to get this right.

    That’s why so many of you have come here today from so far away.

    And that’s why I am so thankful that you have.

    Because together I know that we can make a difference.

    So it gives me great pleasure to welcome you to the Education World Forum 2025.

    And I look forward to working together with you as we build stronger, bolder, better education together.

    Thank you.

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    Updates to this page

    Published 19 May 2025

    MIL OSI United Kingdom