Category: Business

MIL-OSI USA: ICYMI: HHS Folds to Grassley Oversight, Reverses Course on $89 Billion Biden-Era Contract Awarded to Shady Nonprofit

US Senate News:

Source: United States Senator for Iowa Chuck Grassley

Washington Free Beacon: HHS to Reevaluate $89 Billion Contract Awarded to Shadowy University of California Nonprofit
Sen. Chuck Grassley hails agency’s decision to reverse Biden’s ‘outrageous’ award
Andrew Kerr
April 30, 2025

The National Institutes of Health is having second thoughts about a behemoth $89 billion contract it awarded to a seemingly dormant California nonprofit organization during the final days of former president Joe Biden’s term.

The National Cancer Institute, a subsidiary of the NIH, awarded a 25-year, $89 billion contract to the Alliance for Advancing Biomedical Research to operate a cancer research lab at Maryland’s Fort Detrick on January 17, just three days before Biden left office. The reward marked a remarkable turn of fortune for the nascent nonprofit organization, which shares close ties to the University of California’s National Laboratories but hadn’t raised or spent a penny since its founding in 2022, according to its available Form 990 tax filings. The nonprofit group exists with the “specific purpose to operate exclusively for the benefit of, to perform the functions of, and/or to carry out the purposes of The Regents of the University of California,” according to its 2022 tax filing.

But the Alliance for Advancing Biomedical Research now risks seeing its multibillion-dollar taxpayer-funded windfall slip through its fingers, according to an April 8 notice obtained by the Washington Free Beacon, showing that the Department of Health and Human Services—NIH’s parent agency—is reevaluating all the original bids for the contract and will possibly award it to another company.

The agency’s move came just weeks after Sen. Chuck Grassley (R., Iowa) sent a letter in late February to the NIH demanding to know why the agency awarded the massive contract to an untested nonprofit with close ties to the University of California, a system that, according to the senator, not only has a history of spending around 40 percent of its federal research funding on administrative costs, but also has a dubious record of leaving its laboratories open to national security breaches by the Chinese Communist Party.

“It’s outrageous Biden’s NIH shoved a nearly $90 billion contract out the door just days before President Trump returned to office,” Grassley told the Free Beacon. “Even worse, the money would have flowed to an organization that can’t clearly protect itself from adversaries like China. I’m very glad HHS heeded my calls to reverse course and is now re-evaluating its initial proposal. I urge the department to ensure efficient use of taxpayer dollars as it works to defeat cancer and save lives.”

…

The nonprofit’s close ties to the University of California was of great concern to Grassley, who noted in his February 26 letter to NIH acting director Matthew Memoli that the university has a record of keeping about 40 percent of its federal research funding for research costs, a figure that far exceeds the Trump administration’s cap on such expenditures at 15 percent.

“It is critical to ensure taxpayer-funded research dollars are actually spent on research, not university administrative expenses,” Grassley wrote in his letter.

Grassley also said he was concerned about the University of California’s well-documented failure to protect its labs from security breaches by China’s government.

“It has been reported that between 1987 and 2021, at least 162 scientists who had worked at Los Alamos [National Laboratory] returned to China to support a variety of domestic research and development programs, including at least 59 who were involved with China’s talent programs,” Grassley wrote. “It appears that the University of California’s inability to keep China out of U.S. R&D is an issue that spans nearly four decades.”

…

HHS notified Leidos on April 9 that NIH had taken the “voluntary corrective action” to reevaluate the initial contract proposals and possibly make a new reward determination, according to a letter obtained by the Free Beacon.

…

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MIL OSI USA News –

May 1, 2025
MIL-OSI USA: Mesa Man Indicted for Torching Tesla Property

Source: US State Government of Utah

Today, a federal grand jury in Phoenix returned a five-count indictment against Ian William Moses, 35, of Mesa, Arizona for Maliciously Damaging Property and Vehicles in Interstate Commerce by Means of Fire.

The charging documents filed in the case allege that Moses was at the Tesla dealership in Mesa shortly before 2 a.m. on Monday, April 28, wearing a dark hooded sweatshirt, tan ballcap, grey pants, black boots, and a black mask. He also carried a red plastic gas can and a black backpack. While in the Tesla parking lot, Moses was captured on video as he placed fire starter logs next to the dealership building. Moses then poured gasoline onto the starter logs, the building, and three Tesla vehicles. At around 1:38 a.m., Moses ignited the starter logs, causing a fire that destroyed a silver Tesla Cybertruck. Video shows Moses leaving the dealership on a dark colored bicycle shortly thereafter.

Mesa police officers arrested Moses approximately a quarter mile from the Tesla dealership at around 3 a.m., still dressed in the same clothes as he was seen wearing at the scene. After his arrest, officers found a hand drawn map of the area in Moses’ pocket, which included a box with the letter “T” marking the dealership’s location.

“If you engage in domestic terrorism, this Department of Justice will find you, follow the facts, and prosecute you to the fullest extent of the law,” said Attorney General Pamela Bondi. “No negotiating.”

“ATF’s Special Agents and forensic investigators, working with the FBI and local partners, quickly recovered and analyzed critical evidence following this deliberate attack,” said ATF Acting Director Dan Driscoll. “This attack poses a serious threat to public safety and the ATF remains committed to aggressively pursuing anyone who endangers our communities through violence or destruction.”

“There is nothing American about burning down someone else’s business because you disagree with them politically,” said U.S. Attorney Timothy Courchaine for the District of Arizona. “These ongoing attacks against Tesla are not protests, they are acts of violence that have no place in Arizona or anywhere else. If someone targets Tesla with violence, they will be found and confronted with the full force of the law.”

“I would like to recognize the dedicated work of the Mesa Police and Mesa Fire Departments on this case,” stated ATF Special Agent in Charge Brendan Iber. “Cooperation with our law enforcement partners acts as a multiplier in our efforts to remove violent criminals from the streets and make our communities safer. The professionalism and extensive investigative knowledge of the police and fire investigators within our arson taskforce cannot be overstated.”

“My office will be engaged in this investigation, and I’m pleased to be able to share our expertise,” said Maricopa County Attorney Rachel Mitchell. “We have a high level of success in prosecuting these types of crimes. My office stands ready to assist our federal law enforcement partners in the prosecution of this individual.”

“I would like to recognize the outstanding efforts of the Superstition District Patrol officers who played a crucial role in this investigation. Their swift action in identifying and monitoring the suspicious van parked near the dealership was critical to the success of this operation. I am truly grateful for their diligent police work,” said Mesa Police Chief Ken Cost. “Special thanks also go to the Mesa Police specialty units and the partnering agencies involved. Your collaboration was instrumental in bringing this suspect to justice and enhancing the safety of our community.”

Each count of conviction for Malicious Damage to Property in Interstate Commerce carries a minimum penalty of five years and up to a maximum penalty of 20 years in prison and a fine of $250,000.

The investigation in this case is being conducted by the Bureau of Alcohol, Tobacco, Firearms and Explosives, the FBI, Mesa Police Department, and the Maricopa County Attorney’s Office. Assistant U.S. Attorney Raymond K. Woo, District of Arizona, Phoenix, is handling the prosecution.

An indictment is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

MIL OSI USA News –

May 1, 2025
MIL-OSI: Aimfinity Investment Corp. I Announces Transition from Nasdaq to OTC Markets and New Monthly Extension for Business Combination

Source: GlobeNewswire (MIL-OSI)

Wilmington, DE, April 30, 2025 (GLOBE NEWSWIRE) — Aimfinity Investment Corp. I (the “AIMA”) (Nasdaq: AIMAU), a special purpose acquisition company, today announced that, as anticipated, AIMA received a notice from The Nasdaq Stock Market LLC (“Nasdaq” or the “Exchange”), stating that in accordance with Nasdaq rules, its securities will be delisted from the Exchange. At the open of trading on Monday, May 5, 2025, AIMA’s securities will be suspended on Nasdaq and are expected to begin trading on the OTC Markets under the tickers “AIMAU,” “AIMBU,” and “AIMAW”, for its units, new units and warrants, respectively.

AIMA’s previously announced business combination (the “Business Combination”) with Docter Inc. (“Docter”), a Taiwanese health technology company, which received shareholder approval on March 27, 2025, will not be materially affected by the venue change, as AIMA and Docter remain committed to working closely to secure Nasdaq listing approval for the post-combined entity and to close the Business Combination as soon as practicable.

In addition, in order to extend the date by which AIMA must complete the Business Combination from April 28, 2025 to May 28, 2025, on April 28, 2025, I-Fa Chang, manager of the sponsor of AIMA, deposited into AIMA’s trust account (the “Trust Account”) an aggregate of $55,823.80, or $0.05 per Class A ordinary share held by public shareholders of AIMA (the “Monthly Extension Payment”).

Pursuant to AIMA’s fourth amended and restated memorandum and articles of association (“Current Charter”), effective January 9, 2025, AIMA may extend the date by which AIMA must complete the Business Combination on a monthly basis from January 28, 2025 until October 28, 2025 or such earlier date as may be determined by its board of directors by depositing the Monthly Extension Payment for each month into the Trust Account. This is the fourth of nine monthly extensions available under the Current Charter of AIMA.

About Aimfinity Investment Corp. I

Aimfinity Investment Corp. I is a special purpose acquisition company (SPAC) focused on merging with high-growth potential businesses and facilitating their entry into the capital markets.

About Docter Inc.

Docter Inc. is a leading health technology company dedicated to developing innovative health monitoring solutions that enhance the accessibility and efficiency of global healthcare services.


Additional Information and Where to Find It

As previously disclosed, on October 13, 2023, AIMA entered into that certain Agreement and Plan of Merger (as may be amended, supplemented or otherwise modified from time to time, the “Merger Agreement”), by and between AIMA, Docter, Aimfinity Investment Merger Sub I, a Cayman Islands exempted company and wholly-owned subsidiary of AIMA (“Purchaser”), and Aimfinity Investment Merger Sub II, Inc., a Delaware corporation and wholly-owned subsidiary of Purchaser (“Merger Sub”), pursuant to which AIMA is proposing to enter into a business combination with Docter involving an reincorporation merger and an acquisition merger. This press release does not contain all the information that should be considered concerning the proposed business combination and is not intended to form the basis of any investment decision or any other decision in respect of the business combination. AIMA’s shareholders and other interested persons are advised to read, when available, the proxy statement/prospectus and the amendments thereto and other documents filed in connection with the proposed business combination, as these materials will contain important information about AIMA, Purchaser or Docter, and the proposed business combination. The proxy statement/prospectus and other relevant materials for the proposed business combination have been mailed to shareholders of AIMA as of the record date of February 25, 2025, established for voting on the proposed business combination. Such shareholders will also be able to obtain copies of the proxy statement/prospectus and other documents filed with the SEC, without charge, once available, at the SEC’s website at www.sec.gov, or by directing a request to AIMA’s principal office at 221 W 9th St, PMB 235 Wilmington, Delaware 19801.

Forward-Looking Statements

This press release contains certain “forward-looking statements” within the meaning of the Securities Act of 1933, as amended (the “Securities Act”) and the Securities Exchange Act of 1934, as amended. Statements that are not historical facts, including statements about the proposed transactions described herein, and the parties’ perspectives and expectations, are forward-looking statements. Such statements include, but are not limited to, statements regarding the proposed transaction, including the anticipated initial enterprise value and post-closing equity value, the benefits of the proposed transaction, integration plans, expected synergies and revenue opportunities, anticipated future financial and operating performance and results, including estimates for growth, the expected management and governance of the combined company, and the expected timing of the proposed transactions. The words “expect,” “believe,” “estimate,” “intend,” “plan” and similar expressions indicate forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to various risks and uncertainties, assumptions (including assumptions about general economic, market, industry and operational factors), known or unknown, which could cause the actual results to vary materially from those indicated or anticipated.

Such risks and uncertainties include, but are not limited to: (i) risks related to the expected timing and likelihood of completion of the proposed business combination, including the risk that the transaction may not close due to one or more closing conditions to the transaction not being satisfied or waived, such as regulatory approvals not being obtained, on a timely basis or otherwise, or that a governmental entity prohibited, delayed or refused to grant approval for the consummation of the transaction or required certain conditions, limitations or restrictions in connection with such approvals; (ii) risks related to the ability of AIMA and Docter to successfully integrate the businesses; (iii) the occurrence of any event, change or other circumstances that could give rise to the termination of the applicable transaction agreements; (iv) the risk that there may be a material adverse change with respect to the financial position, performance, operations or prospects of AIMA or Docter; (v) risks related to disruption of management time from ongoing business operations due to the proposed transaction; (vi) the risk that any announcements relating to the proposed transaction could have adverse effects on the market price of AIMA’s securities; (vii) the risk that the proposed transaction and its announcement could have an adverse effect on the ability of Docter to retain customers and retain and hire key personnel and maintain relationships with their suppliers and customers and on their operating results and businesses generally; (viii) risks relating to the medical device industry, including but not limited to governmental regulatory and enforcement changes, market competitions, competitive product and pricing activity; and (ix) risks relating to the combined company’s ability to enhance its products and services, execute its business strategy, expand its customer base and maintain stable relationship with its business partners.

A further list and description of risks and uncertainties can be found in the prospectus filed with the Securities and Exchange Commission (the “SEC”) on April 26, 2022 relating to AIMA’s initial public offering (File No. 333-263874), the annual report of AIMA on Form 10-K for the fiscal year ended on December 31, 2024, filed with the SEC on April 15, 2025, and in the final prospectus/proxy statement filed with the SEC on March 6, 2025 relating to the proposed transactions (File No. 333-284658) (the “Final Prospectus”), and other documents that the parties may file or furnish with the SEC, which you are encouraged to read. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements relate only to the date they were made, and AIMA, Docter, and their subsidiaries or affiliates undertake no obligation to update forward-looking statements to reflect events or circumstances after the date they were made except as required by law or applicable regulation.

Additional Information and Where to Find It

In connection with the proposed transactions described herein, Purchaser filed the Final Prospectus with the SEC on March 6, 2025. The proxy statement and a proxy card has been mailed to AIMA’s shareholders of record as of February 25, 2025. Shareholders of AIMA will also be able to obtain a copy of the Final Prospectus without charge from AIMA. The Final Prospectus may also be obtained without charge at the SEC’s website at www.sec.gov. INVESTORS AND SECURITY HOLDERS OF AIMA ARE URGED TO READ THESE MATERIALS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS IN CONNECTION WITH THE PROPOSED TRANSACTIONS THAT AIMA WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT AIMA, DOCTER AND THE PROPOSED TRANSACTIONS.

Participants in the Solicitation

AIMA, Docter, and their respective directors, executive officers, other members of management, and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies of AIMA’s shareholders in connection with the proposed transactions described herein. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of AIMA’s shareholders in connection with the proposed business combination is set forth in the Final Prospectus.

No Offer or Solicitation

This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of any potential transaction and does not constitute an offer to sell or a solicitation of an offer to buy any securities of AIMA, Purchaser or Docter, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act or an exemption therefrom.

Contact Information:

Aimfinity Investment Corp. I
I-Fa Chang
Chief Executive Officer
221 W 9th St, PMB 235
Wilmington, Delaware 19801
ceo@aimfinityspac.com

The MIL Network –

May 1, 2025

MIL-OSI: Prospera Energy Announces 2024 Financial Results

Source: GlobeNewswire (MIL-OSI)

CALGARY, Alberta, April 30, 2025 (GLOBE NEWSWIRE) — Prospera Energy Inc. (TSX.V: PEI, OTC: GXRFF) (“Prospera”, “PEI” or the “Corporation”)

In Q4 2024, Prospera Energy underwent a strategic transformation under new leadership, shifting its focus toward reactivating existing wells within its core Saskatchewan heavy oil assets. This realignment is designed to improve production reliability and predictability, ultimately strengthening cash flow and overall financial stability. As part of this strategic shift, interim CEO Shubham Garg was appointed Chairman of the Board, and Darren Jackson assumed the role of Chief Operating Officer. As these changes take effect, PEI expects to benefit from increased access to financing, more efficient capital deployment, and enhanced financial performance in 2025. Prospera will host a live webinar conference call on May 1, 2025, at 11:00 a.m. MST to discuss 2024 results and the Company’s ongoing strategy: Click here to register.

PEI has submitted its year-end financial information for 2024, which will be showcased on April 29^th, 2025, within the Company’s issuer profile on SEDAR+ at www.Sedarplus.ca.

Operational highlights for 2024 are as follows:

Realized $18.1 million in sales revenue in 2024, compared to $13.1 million in 2023.
Realized average gross sales of 652 boe/d in 2024, an increase of 29% from 2023 levels of 505 boe/d.
Realized average sales prices of $75.95/boe in 2024, compared to $71.48/boe in 2023.
Realized a positive operating netback of $6,013,280 in 2024, compared to $3,356,773 in 2023.
Realized positive funds flow provided by operations of $2,623,166 in 2024, compared to $190,823 in 2023.
Completed two working interest acquisitions in core Saskatchewan assets, resulting in a 17% increase in the average working interest in the region. As of December 31, 2024, PEI’s average working interest across all properties is 97% on a production weighted basis.
PEI’s 2024 third party reserves report highlights include the following:
- NPV before tax for PDP reserves increased 3% from $27.1MM to $28.0MM at a 10% discount rate.
- NPV before tax for PDNP reserves doubled from $8.5MM to $18.9MM at a 10% discount rate.
- NPV before tax for 1P reserves increased 24% from $89.9MM to $111.4MM at a 10% discount rate.
- NPV before tax for 2P reserves increased 20% from $133.3MM to $159.3MM at a 10% discount rate.
- Gross 2P reserves increased by 26% from 5,403 to 6,793 Mboe (98% liquids).
In 2024 PEI raised $16.5m in financing:
- $12.2 million through the issuance of senior debt.
- $3.4 million through the issuance of a GORR.
- $0.9 million through the issuance of promissory notes with warrants.
Increased Property and Equipment balance to $47.8 million from $39.3 million on December 31, 2023.


Operating netback	2024	2023
Total petroleum and natural gas sales	18,126,190	13,183,464
Royalties	(1,483,792)	(1,365,520)
Operating costs	(10,629,118)	(8,461,171)
Operating netback	6,013,280	3,356,773

Operating netback ($/BOE)	2024	2023
Sales	75.95	71.48
Royalties	(6.22)	(7.40)
Operating costs	(44.54)	(45.88)
Operating netback	25.19	18.20

Assets ($)	2024	2023
Current assets
Cash	364,083	118,933
Trade and other receivables	1,874,548	3,244,596
Prepaid expenses and deposits	393,207	548,443
Inventory	564,802	521,426
Total current assets	3,196,640	4,433,398
Non-current assets
Trade and other receivables	1,676,252	4,387,826
Deposits	1,283,422	1,015,400
Property and equipment	47,776,659	39,331,690
Total assets	53,932,973	49,168,314

About Prospera

Prospera Energy Inc. is a publicly traded Canadian energy company specializing in the exploration, development, and production of crude oil and natural gas. Headquartered in Calgary, Alberta, Prospera is dedicated to optimizing recovery from legacy fields using environmentally safe and efficient reservoir development methods and production practices. The company’s core properties are strategically located in Saskatchewan and Alberta, including Cuthbert, Luseland, Hearts Hill, and Brooks. Prospera Energy Inc. is listed on the TSX Venture Exchange under the symbol PEI and the U.S. OTC Market under GXRFF.

Prospera reports gross production at the first point of sale, excluding gas used in operations and volumes from partners in arrears, even if cash proceeds are received. Gross production represents Prospera’s working interest before royalties, while net production reflects its working interest after royalty deductions. These definitions align with ASC 51-324 to ensure consistency and transparency in reporting.

It is important to note that BOEs (barrels of oil equivalent) may be misleading, particularly if used in isolation. The BOE conversion ratio of 6 Mcf:1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

For Further Information:

Shawn Mehler, PR
Email: investors@prosperaenergy.com

Chris Ludtke, CFO
Email: cludtke@prosperaenergy.com

Shubham Garg, Interim CEO, Chairman of the Board
Email: sgarg@prosperaenergy.com

FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements relating to the future operations of the Corporation and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will,” “may,” “should,” “anticipate,” “expects” and similar expressions. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding future plans and objectives of the Corporation, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Although Prospera believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Prospera can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, risks associated with the oil and gas industry in general (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks), commodity price and exchange rate fluctuations and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Prospera. As a result, Prospera cannot guarantee that any forward-looking statement will materialize, and the reader is cautioned not to place undue reliance on any forward- looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release, and Prospera does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by Canadian securities law.

Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

The MIL Network –

May 1, 2025

MIL-OSI Security: Mesa Man Indicted for Torching Tesla Property

Source: United States Attorneys General 1

Today, a federal grand jury in Phoenix returned a five-count indictment against Ian William Moses, 35, of Mesa, Arizona for Maliciously Damaging Property and Vehicles in Interstate Commerce by Means of Fire.

The charging documents filed in the case allege that Moses was at the Tesla dealership in Mesa shortly before 2 a.m. on Monday, April 28, wearing a dark hooded sweatshirt, tan ballcap, grey pants, black boots, and a black mask. He also carried a red plastic gas can and a black backpack. While in the Tesla parking lot, Moses was captured on video as he placed fire starter logs next to the dealership building. Moses then poured gasoline onto the starter logs, the building, and three Tesla vehicles. At around 1:38 a.m., Moses ignited the starter logs, causing a fire that destroyed a silver Tesla Cybertruck. Video shows Moses leaving the dealership on a dark colored bicycle shortly thereafter.

Mesa police officers arrested Moses approximately a quarter mile from the Tesla dealership at around 3 a.m., still dressed in the same clothes as he was seen wearing at the scene. After his arrest, officers found a hand drawn map of the area in Moses’ pocket, which included a box with the letter “T” marking the dealership’s location.

“If you engage in domestic terrorism, this Department of Justice will find you, follow the facts, and prosecute you to the fullest extent of the law,” said Attorney General Pamela Bondi. “No negotiating.”

“ATF’s Special Agents and forensic investigators, working with the FBI and local partners, quickly recovered and analyzed critical evidence following this deliberate attack,” said ATF Acting Director Dan Driscoll. “This attack poses a serious threat to public safety and the ATF remains committed to aggressively pursuing anyone who endangers our communities through violence or destruction.”

“There is nothing American about burning down someone else’s business because you disagree with them politically,” said U.S. Attorney Timothy Courchaine for the District of Arizona. “These ongoing attacks against Tesla are not protests, they are acts of violence that have no place in Arizona or anywhere else. If someone targets Tesla with violence, they will be found and confronted with the full force of the law.”

“I would like to recognize the dedicated work of the Mesa Police and Mesa Fire Departments on this case,” stated ATF Special Agent in Charge Brendan Iber. “Cooperation with our law enforcement partners acts as a multiplier in our efforts to remove violent criminals from the streets and make our communities safer. The professionalism and extensive investigative knowledge of the police and fire investigators within our arson taskforce cannot be overstated.”

“My office will be engaged in this investigation, and I’m pleased to be able to share our expertise,” said Maricopa County Attorney Rachel Mitchell. “We have a high level of success in prosecuting these types of crimes. My office stands ready to assist our federal law enforcement partners in the prosecution of this individual.”

“I would like to recognize the outstanding efforts of the Superstition District Patrol officers who played a crucial role in this investigation. Their swift action in identifying and monitoring the suspicious van parked near the dealership was critical to the success of this operation. I am truly grateful for their diligent police work,” said Mesa Police Chief Ken Cost. “Special thanks also go to the Mesa Police specialty units and the partnering agencies involved. Your collaboration was instrumental in bringing this suspect to justice and enhancing the safety of our community.”

Each count of conviction for Malicious Damage to Property in Interstate Commerce carries a minimum penalty of five years and up to a maximum penalty of 20 years in prison and a fine of $250,000.

The investigation in this case is being conducted by the Bureau of Alcohol, Tobacco, Firearms and Explosives, the FBI, Mesa Police Department, and the Maricopa County Attorney’s Office. Assistant U.S. Attorney Raymond K. Woo, District of Arizona, Phoenix, is handling the prosecution.

An indictment is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

MIL Security OSI –

May 1, 2025
MIL-OSI Security: Security News: Mesa Man Indicted for Torching Tesla Property

Source: United States Department of Justice 2

Today, a federal grand jury in Phoenix returned a five-count indictment against Ian William Moses, 35, of Mesa, Arizona for Maliciously Damaging Property and Vehicles in Interstate Commerce by Means of Fire.

The charging documents filed in the case allege that Moses was at the Tesla dealership in Mesa shortly before 2 a.m. on Monday, April 28, wearing a dark hooded sweatshirt, tan ballcap, grey pants, black boots, and a black mask. He also carried a red plastic gas can and a black backpack. While in the Tesla parking lot, Moses was captured on video as he placed fire starter logs next to the dealership building. Moses then poured gasoline onto the starter logs, the building, and three Tesla vehicles. At around 1:38 a.m., Moses ignited the starter logs, causing a fire that destroyed a silver Tesla Cybertruck. Video shows Moses leaving the dealership on a dark colored bicycle shortly thereafter.

Mesa police officers arrested Moses approximately a quarter mile from the Tesla dealership at around 3 a.m., still dressed in the same clothes as he was seen wearing at the scene. After his arrest, officers found a hand drawn map of the area in Moses’ pocket, which included a box with the letter “T” marking the dealership’s location.

“If you engage in domestic terrorism, this Department of Justice will find you, follow the facts, and prosecute you to the fullest extent of the law,” said Attorney General Pamela Bondi. “No negotiating.”

“ATF’s Special Agents and forensic investigators, working with the FBI and local partners, quickly recovered and analyzed critical evidence following this deliberate attack,” said ATF Acting Director Dan Driscoll. “This attack poses a serious threat to public safety and the ATF remains committed to aggressively pursuing anyone who endangers our communities through violence or destruction.”

“There is nothing American about burning down someone else’s business because you disagree with them politically,” said U.S. Attorney Timothy Courchaine for the District of Arizona. “These ongoing attacks against Tesla are not protests, they are acts of violence that have no place in Arizona or anywhere else. If someone targets Tesla with violence, they will be found and confronted with the full force of the law.”

“I would like to recognize the dedicated work of the Mesa Police and Mesa Fire Departments on this case,” stated ATF Special Agent in Charge Brendan Iber. “Cooperation with our law enforcement partners acts as a multiplier in our efforts to remove violent criminals from the streets and make our communities safer. The professionalism and extensive investigative knowledge of the police and fire investigators within our arson taskforce cannot be overstated.”

“My office will be engaged in this investigation, and I’m pleased to be able to share our expertise,” said Maricopa County Attorney Rachel Mitchell. “We have a high level of success in prosecuting these types of crimes. My office stands ready to assist our federal law enforcement partners in the prosecution of this individual.”

“I would like to recognize the outstanding efforts of the Superstition District Patrol officers who played a crucial role in this investigation. Their swift action in identifying and monitoring the suspicious van parked near the dealership was critical to the success of this operation. I am truly grateful for their diligent police work,” said Mesa Police Chief Ken Cost. “Special thanks also go to the Mesa Police specialty units and the partnering agencies involved. Your collaboration was instrumental in bringing this suspect to justice and enhancing the safety of our community.”

Each count of conviction for Malicious Damage to Property in Interstate Commerce carries a minimum penalty of five years and up to a maximum penalty of 20 years in prison and a fine of $250,000.

The investigation in this case is being conducted by the Bureau of Alcohol, Tobacco, Firearms and Explosives, the FBI, Mesa Police Department, and the Maricopa County Attorney’s Office. Assistant U.S. Attorney Raymond K. Woo, District of Arizona, Phoenix, is handling the prosecution.

An indictment is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

MIL Security OSI –

May 1, 2025

MIL-OSI Security: Former Antioch Police Officer Found Guilty Of Conspiracy To Distribute Anabolic Steroids And Obstruction Of Justice

Source: Office of United States Attorneys

OAKLAND – A federal jury today convicted former Antioch police officer Devon Wenger of one count of conspiracy to distribute and possess with the intent to distribute anabolic steroids and one count of obstruction of justice. The jury’s verdict follows a three-day trial before Senior U.S. District Judge Jeffrey S. White.

Wenger, 33, was previously employed as a police officer with the Antioch Police Department. According to court documents and evidence presented at trial, Wenger conspired with Daniel Harris, who was at the time also a police officer with the Antioch Police Department, to distribute anabolic steroids to a third individual, and then deleted evidence of this conspiracy from his cellular phone.

“Instead of upholding the law, as he swore an oath to do, Devon Wenger conspired with a fellow officer to sell illegal anabolic steroids. When the FBI arrived at his home to investigate him, he then doubled down by destroying evidence of his crime. Crimes like these by a police officer have a corrosive effect on the public’s trust in law enforcement. Thanks to today’s jury conviction, Mr. Wenger will now face sentencing for his violations of law,” said Acting United States Attorney Patrick D. Robbins.

“When Devon Wenger broke the law and then tried to cover his tracks, he didn’t just commit a crime — he betrayed the trust of the community he was sworn to serve. After learning the FBI was outside his home with a search warrant, he chose to delete evidence rather than come clean. That kind of misconduct corrodes public confidence in law enforcement,” said FBI Special Agent in Charge Sanjay Virmani. “Today’s guilty verdict makes clear that the FBI will hold accountable anyone who abuses the authority and responsibility of public service.”

According to the evidence presented at trial, in February 2022, Wenger set up the sale of anabolic steroids, a Schedule III controlled substance, between Harris and a third individual. Harris was also charged in this case and pleaded guilty to his role in the conspiracy on Sept. 17, 2024. Law enforcement officials seized the package of anabolic steroids destined for Harris before they arrived, although Wenger continued to communicate with Harris about supplying the third individual with anabolic steroids, including offering to give this individual some of Wenger’s own while they waited for the delayed package.

On March 23, 2022, at 8:03 a.m., the Federal Bureau of Investigation (FBI) began calling and sending text messages to Wenger telling him that they were outside of his residence with a warrant. It was not until 9:00 a.m. that Wenger appeared for the FBI to seize Wenger’s cellular phone. Later forensic examination of that device showed that specific entries related to the anabolic steroid distribution conspiracy had been deleted: specifically, all text messages between Wenger and Harris, all text messages between Wenger and the third individual he was trying to supply with steroids, the contacts for both Harris and the third individual, and recent call log entries for Wenger’s most recent phone calls with the third individual.

The jury convicted Wenger of all counts charged in this case: one count of conspiracy to distribute and possess with the intent to distribute anabolic steroids in violation of 21 U.S.C. §§ 846, 841(a)(1), and (b)(1)(E)(i) and one count of destruction, alteration, or falsification of records in federal investigations (obstruction of justice) in violation of 18 U.S.C. § 1519.

Wenger is scheduled to appear on May 6, 2025, for a hearing on whether to remand him to custody pending sentencing. He faces a maximum sentence of 10 years in prison on the conspiracy to distribute anabolic steroids count and 20 years in prison on the obstruction of justice count. Any sentence will be imposed by the Court only after consideration of the U.S. Sentencing Guidelines and the federal statute governing the imposition of a sentence, 18 U.S.C. § 3553.

The case is being prosecuted by the National Security & Special Prosecutions Section and the Oakland Branch of the United States Attorney’s Office. This prosecution is the result of an investigation by the FBI and the Office of the Contra Costa County District Attorney.

* * *

Separately, Wenger is scheduled to appear before Senior U.S. District Judge Jeffrey S. White on May 6, 2025, for a status conference in United States v. Wenger, 23-cr-00269, which charges Wenger with one count of conspiracy against rights in violation of 18 U.S.C. § 241 and one count of deprivation of rights under color of law in violation of 18 U.S.C. § 242. The United States v. Wenger, 23-cr-00269 case is set for trial on July 21, 2025.

These charges against Wenger were brought as part of an investigation into the Antioch and Pittsburgh police departments that resulted in multiple charges against 10 current and former officers and employees of these two police departments for various crimes ranging from the use of excessive force to fraud. The status of these cases, all of which are before Senior U.S. District Judge Jeffrey S. White, is below:

Case Name and Number	Statute(s)	Defendant (Bold: multiple case numbers)	Status
Fraud 23-cr-00264	18 U.S.C. §§ 1349 (Conspiracy to Commit Wire Fraud; 1343 (Wire Fraud)	Patrick Berhan	Sentenced to 30 months custody, 2 years supervised release concurrent with 24-cr-157 on 9/5/24
		Morteza Amiri	Convicted at trial 8/8/24, remanded to custody pending sentencing, which is set for 6/3/25
		Amanda Theodosy a/k/a Nash	Sentenced to 3 months custody, 3 years supervised release 11/15/24
		Samantha Peterson	Sentenced to time served, 3 years supervised release 4/24/24
		Ernesto Mejia-Orozco	Sentenced to 3 months custody, 3 years supervised release on 9/19/24
		Brauli Jalapa Rodriguez	Sentenced to 3 months custody, 3 years supervised release on 10/25/24
Obstruction 23-cr-00267	18 U.S.C. §§ 1519 (Destruction, Alteration, and Falsification of Records in Federal Investigations); 1512(c)(2) (Obstruction of Official Proceedings); 242 (Deprivation of Rights Under Color of Law)	Timothy Manly Williams	Pleaded guilty 11/28/23, status conference 8/19/25
Anabolic Steroid Distribution 23-cr-00268	21 U.S.C. §§ 846 (Conspiracy to Distribute and Possess with Intent to Distribute Anabolic Steroids), 841(a)(1), and (b)(1)(E)(i) (Possession with Intent to Distribute Anabolic Steroids)	Daniel Harris	Pleaded guilty 9/17/24, status conference 8/19/25
Anabolic Steroid Distribution 23-cr-00268	21 U.S.C. §§ 846, 841(a)(1), and (b)(1)(E)(i) (Conspiracy to Distribute and Possess with Intent to Distribute Anabolic Steroids); 18 U.S.C.§ 1519 (Destruction, Alteration, and Falsification of Records in Federal Investigations)	Devon Wenger	Convicted at trial 4/30/25, sentencing pending
Civil Rights 23-cr-00269	18 U.S.C. §§ 241 (Conspiracy Against Rights), 242 (Deprivation of Rights Under Color of Law); § 1519 (Destruction, Alteration, and Falsification of Records in Federal Investigations)	Morteza Amiri	Convicted at trial 3/14/25 on counts 2 and 5, remanded to custody pending sentencing, which is set for 6/3/25
	18 U.S.C. §§ 241 (Conspiracy Against Rights), 242 (Deprivation of Rights Under Color of Law)	Eric Rombough	Pleaded guilty 1/14/25, status conference 8/19/25
	18 U.S.C. §§ 241 (Conspiracy Against Rights), 242 (Deprivation of Rights Under Color of Law)	Devon Wenger	Trial 7/21/25
Anabolic Steroid Distribution 24-cr-00157	21 U.S.C. §§ 841(a)(1) and (b)(1)(E)(i) (Possession with Intent to Distribute Anabolic Steroids)	Patrick Berhan	Sentenced to 30 months custody, 2 years supervised release concurrent with 23-cr-264 on 9/5/24
Bank Fraud 24-cr-00502	18 U.S.C. § 1344(1), (2) (Bank fraud)	Daniel Harris	Pleaded guilty 9/17/24, status conference 8/19/25

MIL Security OSI –

May 1, 2025

MIL-OSI USA: Chairman Mast Applauds U.S.-Ukraine Minerals Deal

Source: US House Committee on Foreign Affairs

Media Contact 202-321-9747

WASHINGTON, D.C. – House Foreign Affairs Committee Chairman Brian Mast issued the following statement after the U.S. and Ukraine signed today’s historic agreement, led by President Trump, to create the United States-Ukraine Reconstruction Investment Fund.

“Thank you, President Trump, for creating American partnerships, instead of American dependents,” Chairman Mast said.

###

MIL OSI USA News –

May 1, 2025
MIL-OSI Security: Colorado Man Charged with Wire Fraud and Identity Theft

Source: Office of United States Attorneys

DENVER – The United States Attorney’s Office for the District of Colorado announces that Julio Melendez, age 31, was indicted by a federal grand jury on ten counts of wire fraud and aiding and abetting; one count of conspiracy to commit wire fraud; and two counts of aggravated identity theft.

According to the indictment, between about March 2020 and about November 2020, Melendez created and executed a payroll fraud scheme against the company where he worked as a project manager. Melendez’s employer was a Maryland-based business that specialized in providing maintenance, custodial, janitorial, and construction services to federal government agencies. During 2020, the company held a contract with a federal agency that obliged the company to provide various services for the agency, including janitorial, grounds keeping, snow removal, and maintenance. While working as a project manager, Melendez was responsible for, among other things, supervising approximately 12 employees, managing employees’ timekeeping, ensuring timesheets were accurate, approving timesheets, ensuring that staff completed their tasks, and ensuring that the company had adequate staff on site at the federal agency.

Among other things, Melendez allegedly conspired with fellow employees under his direct supervision to falsify time sheets and ultimately collect wage payments from their own company for hours and days never worked by the employees. The employees then kicked back a portion of their unearned wages to Melendez as part of the fraud scheme. As a result, the victim company paid approximately $82,000 in wages to employees for services never performed on behalf of the government agency.

The investigation is being conducted by the Office of Inspector General for the U.S. Department of the Treasury. The prosecution is being handled by Assistant United States Attorney Tim Neff.

The charges in the indictment are allegations and the defendant is presumed innocent unless and until proven guilty beyond a reasonable doubt.

Case Number: 25-cr-00103-RMR

MIL Security OSI –

May 1, 2025
MIL-OSI USA: House Passes Rep. John James’ Resolution to Overturn Biden’s California Clean Trucks Rule, Protecting American Truckers and Consumers
Source: United States House of Representatives – Congressman John James (Michigan 10th District)

WASHINGTON, D.C. – Today, the U.S. House of Representatives passed a resolution led by Representative John James (MI-10) utilizing the Congressional Review Act (CRA) to overturn the Biden Administration’s approval of California’s Advanced Clean Trucks rule. This Biden era waiver would allow California to ram its comply-or-die “zero-emission truck” rule down the throat of America– essentially killing Michigan’s trucking industry. It would mandate truck makers to only sell zero-emission trucks which would increase vehicle prices for consumers, increase costs and manufacturing complexities for automakers, and convolute the regulatory environment.

James’ legislation would nullify an overreaching and impractical mandate that threatens American consumers, small businesses, and the nation’s supply chain. The Advanced Clean Trucks rule, if left unchecked, would force costly transitions to electric trucks, driving up prices for goods and disproportionately burdening working families and truckers across the country.

“Michigan is not afraid of the future, but we demand to be a part of it. The Biden Administration left behind comply-or-die Green New Deal mandates that threaten to crush our trucking industry and drive-up costs for hardworking Americans,” said Congressman James. “I know — my family has a trucking company. Republicans are working hard to implement President Trump’s America First agenda, and the first step is repealing the rules and waivers that fueled Bideninflation.”

“The passage of these resolutions is a victory for Americans who will not be forced into purchasing costly EVs because of California’s unworkable mandates,” said Chairmen Brett Guthrie and Morgan Griffith. “If not repealed, the California waivers would lead to higher prices for both new and used vehicles, increase our reliance on China, and strain our electric grid. The passage of these three resolutions will help to protect Americans from some of the worst policies of the Biden-Harris Administration. Thank you to Vice Chairman Joyce, Congressman Obernolte, and Congressman James for your work to ensure that families and businesses can continue choosing the vehicles they need.”

“This is not the United States of California. California should never be given the keys to set policies that impact our interstate supply chains. The trucking industry is grateful to our Congressional leaders who are removing Sacramento from the driver’s seat and restoring common sense to our nation’s environmental policies. ” Said Chris Spear, American Trucking Associations President & CEO.

“The Truck Renting and Leasing Association (TRALA) is urging Congress to adopt the House resolutions this week authored by Congressman John James and his colleagues that would reverse the Biden EPA waivers that allows California to impose electric vehicle (EV) sales mandates,” said Jake Jacoby, Truck Renting and Leasing Association (TRALA) President & CEO. “TRALA wishes to thank Congressman James in his leadership on this critical issue and it asks the…Senate to follow suit and pass the CRAs immediately.”

“America’s small business truck dealers want to sell trucks that their customers want to buy, and those trucks must be affordable and fit their customers’ needs,” said the National Automobile Dealers Association (NADA). “A one-size-fits-all ZEV mandate that restricts then bans the sale of diesel trucks would reduce customer choice without an affordable replacement and could have unintended consequences for the supply chain and the economy.”

This bill is a part of a broader package introduced by the House Energy and Commerce Committee, which included two additional CRA’s:
- H.J. Res. 88, introduced by Congressman John Joyce (PA-13), would reverse the EPA’s decision to approve a waiver granted to California allowing the State to ban the sale of gas-powered vehicles by 2035.
- H.R. Res. 89, introduced by Congressman Jay Obernolte (CA-23), would put an end to the EPA’s decision to allow California to implement its most recent nitrogen oxide (NOx) engine emission standards, which create burdensome and unworkable standards for heavy-duty on-road engines.
The California Clean Truck CRA builds on James’ efforts to push back on the Biden Administration’s burdensome regulations. In 2024, he successfully introduced a CRA to block Biden Administration rules on electric vehicle mandates for light- and medium-duty vehicles, as well as the National Labor Relations Board’s joint employer rule. His latest effort has garnered support from industry leaders, including the American Trucking Associations and the Owner-Operator Independent Drivers Association, who have praised the move to safeguard truckers and the broader economy.

Rep. James’ CRA to nullify the Clean Trucks rule passed the House with 231 bipartisan votes. This is James’ second legislative item to pass the House this week.

Click here to view the CRA text.

###

MIL OSI USA News –
May 1, 2025
MIL-OSI China: China passes new law in major push to bolster private sector

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

BEIJING, April 30 — China’s national lawmakers on Wednesday voted to adopt the country’s first fundamental law dedicated to promoting the private sector, underscoring support for a key part of the world’s second-largest economy.

After over a year of legislative process, the private sector promotion law, passed at a session of the Standing Committee of the National People’s Congress, will take effect on May 20, 2025.

The law stipulates that the promotion of the sustainable, healthy and high-quality development of the private economy is a significant and long-term policy of China.

From ensuring fair market access and financing support to enhancing services and protection of original innovation, the 78-article law cements efforts to encourage, support and guide the growth of the private sector.

The law will provide a clearer and more solid legal guarantee for the private sector, said Li Shuguang, a professor at China University of Political Science and Law.

This marks China’s latest step in strengthening the sector — recognized by the law as a key component of the socialist market economy — amid efforts to tackle economic headwinds both at home and abroad.

Officials and analysts view the formation and adoption of the law as “highly timely and absolutely essential,” given the private sector’s significant role in the economy.

Boosting the private sector should feature prominently on the country’s economic policy agenda: Whether it is to stimulate domestic demand, expand the domestic market, or boost production and improve the quality of supply, private businesses will be a key participant and contributor, according to Anbound, an independent think tank in China.

Private enterprises have long been a key driving force behind China’s economic growth, contributing more than 60 percent of GDP and 80 percent of urban employment. By the end of March 2025, the country’s more-than-57-million registered private enterprises made up over 92 percent of all businesses in China.

From electric vehicle maker BYD to artificial intelligence innovator DeepSeek and robotics pioneer Unitree Robotics, private enterprises have also become key players in China’s push for innovation-driven growth.

Yet, industry insiders note that challenges remain — domestically, private businesses may face financing constraints and invisible market access barriers in some sectors; while abroad, they must navigate increasing impact from external shocks.

The law will transform policy support into legal guarantees, giving entrepreneurs greater reassurance and motivation to keep moving forward, said Qi Xiangdong, chairman of cybersecurity firm Qi-Anxin and vice chairman of the All-China Federation of Industry and Commerce.

“The rule of law is the best business environment,” Qi said.

In February, the country held a high-level symposium on private enterprises, which was widely viewed as a strong signal to boost the confidence and growth of the private sector.

A month later, at the “two sessions”, the country reiterated support for private enterprises, vowing to take effective moves to stimulate the vitality of all market entities.

To support the private sector, China has established a special bureau under the National Development and Reform Commission (NDRC) dedicated to serving the sector’s development. Multiple provincial-level regions, including Guangdong, Shanxi, Qinghai and Zhejiang, have all set up such bureaus.

Efforts to level the playing field are also underway. Last week, the NDRC unveiled the new version of the market access negative list, which specifies fields that are off-limits to both domestic and overseas business entities, reducing the number of items on the list from 117 to 106.

Nan Yi, chairman of Wontai Group, said the law will support private firms’ entry into sectors such as infrastructure and energy, and provide a strong guarantee for their continuous investment in research and development.

“The enactment of this law will inject strong impetus into the sound development of the private economy,” Nan said.

MIL OSI China News –

May 1, 2025
MIL-OSI China: China’s economy demonstrates resilience amid uncertain external environment

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

BEIJING, April 30 — China’s economic output continued to rise in April, though changes in the external trade environment brought a level of disruption to the manufacturing sector, the National Bureau of Statistics (NBS) said on Wednesday.

In April, China’s composite purchasing managers’ index (PMI) stood at 50.2, indicating that overall business activity continued to expand, according to data released by the NBS.

The PMI for the manufacturing sector fell to 49, while the PMI for the non-manufacturing sector came in at 50.4. The composite PMI is calculated based on the weighted average of the two indices.

A reading above 50 indicates expansion, while a reading below 50 reflects contraction.

NBS statistician Zhao Qinghe attributed the manufacturing PMI decline to a high base effect from the previous period’s rapid growth in the sector and drastic changes in the external environment.

Wen Tao, an analyst at the China Logistics Information Center, said that April saw market demand and production cool temporarily amid rising external pressures, which also led to fluctuations in raw materials procurement and market prices.

However, he noted that China’s economic fundamentals remain solid, supported by its supersized domestic market and resilient industrial and supply chains, along with policy measures that have helped sustain steady growth.

Though overall manufacturing activity moderated, certain sectors continued to show resilience and growth.

The PMI for high-tech manufacturing stood at 51.5 percent, well above the overall manufacturing level, with both production and new orders sub-indices exceeding 52 percent, reflecting the sector’s continued strong momentum.

Sectors such as agricultural and sideline food processing, food, liquor, pharmaceuticals, and beverages and refined tea also saw their production and new orders sub-indices come in above 53 percent, driven by the continued release of demand potential in China’s supersized domestic market.

Despite headwinds, business expectations remained in expansion territory, with the production and business activity expectations index standing at 52.1 percent in April.

In particular, enterprises in sectors such as food, liquor, beverages and refined tea, automobiles, and railway, ship and aerospace equipment all saw their expectations indices rise above 58, indicating strong business optimism.

In the non-manufacturing sector, the PMI has stayed above 50 for four consecutive months this year, indicating a stable pace of expansion.

Business activity indices in sectors related to air transport, telecommunications, radio, television and satellite transmission services, internet software and information technology services, and insurance remained above 55, indicating robust growth in overall business volume.

The business activity expectations index came in at 56.4, remaining in a relatively high range, with most services enterprises maintaining a positive outlook.

China’s economy has started 2025 with renewed vigor, with its gross domestic product registering 5.4 percent year-on-year growth in the first quarter.

Chinese policymakers recognized this positive trend at a high-level meeting of the Political Bureau of the Communist Party of China Central Committee last Friday, while cautioning that an economic recovery requires further consolidation to withstand intensifying external shocks.

Looking ahead, it is imperative that the country coordinates domestic economic work with responses to international economic headwinds, and deals with the uncertainty of drastic changes in the external environment with the certainty of its own high-quality development, Zhao said.

MIL OSI China News –

May 1, 2025
MIL-OSI Video: THE TRUMP EFFECT: $8 TRILLION in U.S. Investments and Climbing

Source: United States of America – The White House (video statements)

THE TRUMP EFFECT: $8 TRILLION in U.S. Investments and Climbing

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

MIL OSI Video –

May 1, 2025
MIL-OSI USA: Luján Statement on Senate Vote Rejecting President Trump’s Tariffs

US Senate News:

Source: US Senator for New Mexico Ben Ray Luján

Washington, D.C. – Today, U.S. Senator Ben Ray Luján (D-N.M.), a member of the Senate Committee on Finance, issued the following statement after voting for a bipartisan resolution that would terminate the national emergency that President Trump declared as the basis for his reckless tariffs:

“President Trump’s reckless tariffs have caused the economy to shrink for the first time in three years. Tonight, Democrats and Republicans made it clear that this is not the right course for the American economy.

“In recent weeks, President Trump’s tariffs have wreaked havoc on our business community, farmers, manufacturers, and families. New Mexicans in every corner of the state are facing higher costs, shrinking life savings, and job insecurity. The President – who promised to lower costs on day one – is damaging the American economy and making life more expensive for American families and businesses.

“These tariffs are new and drastic tax increases on hardworking New Mexicans. Democrats and Republicans alike know that President Trump’s tariffs are hurting their states. That’s why I voted with my colleagues on both sides of the aisle to send a clear message to President Trump that these reckless tariffs are taking a toll on the American economy and it must stop now.”

MIL OSI USA News –

May 1, 2025
MIL-OSI United Kingdom: Scotland’s most remote towns and villages get huge broadband upgrade as UK government vows to end digital exclusion plight
Source: United Kingdom – Executive Government & Departments 2

Press release

Scotland’s most remote towns and villages get huge broadband upgrade as UK government vows to end digital exclusion plight

Around 65,000 Scottish homes and businesses, including many in some of the most isolated areas of the United Kingdom, will receive access to fast, reliable broadband.
Broadband upgrade for Scotland’s remote locations.

Around 65,000 homes and businesses in Scotland to gain access to lightning-fast broadband for the first time, helping to break down barriers to opportunity and kickstart economic growth under the Government’s Plan for Change

UK Government signs largest ever contract worth £157 million to bring gigabit-capable internet to the Highlands, Outer Hebrides, and hard-to-reach areas across most of Scotland

Rollout to help break down barriers to opportunity for those struggling to get online and boost local economic growth under the Government’s Plan for Change

Around 65,000 Scottish homes and businesses, including many in some of the most isolated areas of the United Kingdom, will receive access to fast, reliable broadband as government helps break down barriers to opportunity and boost economic growth under the Plan for Change.

Digitally isolated communities across Scotland, where using the web can be almost impossible due to outdated infrastructure, will be able to work, bank, shop and study online without buffering, thanks to gigabit-capable broadband funded by the UK government.

Several remote islands off Scotland’s west coast will benefit, including thousands of premises across the Outer Hebrides – a chain of over 100 islands where currently just seven per cent of premises can access gigabit broadband, among the lowest in the UK – as well as the isles of Skye, Islay and Tiree.

Rural parts of the Highlands will also be covered by this boost, such as Applecross, an extremely remote peninsula, and Durness, the most north-westerly village on the UK mainland.

The £157 million contract with Openreach is the largest ever under Project Gigabit. It will power up efforts to tackle digital exclusion across the entire UK – delivering the Prime Minister’s Plan for Change, from boosting local economic growth through giving businesses the vital tools they need, to improving access to public services like virtual NHS appointments.

Telecoms Minister Chris Bryant said:

Digital exclusion for people living and working in hard-to-reach areas across Scotland can be a huge obstacle to living a better and healthier life. Elderly and vulnerable people could miss out on the best treatment options in North Ayrshire, while budding entrepreneurs could be held back from their dream of running a successful business in Moray.

With our recent Digital Inclusion Action Plan, we have pledged to take everyone along with us in the digital revolution so that we don’t entrench existing inequalities as technological progress races ahead.

This huge UK Government investment is a commitment to using technology to make lives in Scotland better as well as turbocharging local economies to deliver on our growth mission under the government’s Plan for Change.

Openreach Deputy CEO, Katie Milligan, said:

Full fibre is the UK’s most reliable broadband technology, and more than half of Scotland’s homes can already order it thanks to Openreach. But we believe everyone deserves access to fast, reliable connections, so we’re proud to be helping extend access to communities that would otherwise be left behind. Our new network’s a catalyst for growth and jobs, with experts predicting it’ll bring a £4.4 billion boost to the Scottish economy and a raft of social and environmental benefits. We’re confident we’ll reach as many as 30 million UK premises by 2030, assuming the right economic conditions exist.

Yvonne Boles, Senior Site Manager of Tayside Reserves at RSPB Scotland, said:

We fell between a few gaps in local network improvements, but now we have gigabit capable fibre to the RSPB Loch Leven visitor centre, which has been a game changer for us.

The old internet was constantly going down or being very slow, which impacted our ability to work in the office as well as taking card payments in both the shop and the café.

We wasted so much time on the phone to IT trying to fix things for us. It’s been such a relief and a benefit to have reliable, powerful internet.

The deal was struck under an £800 million agreement with Openreach announced last August as part of wider plans to end the plight of digital exclusion across rural Britain, with work already underway to connect over 227,000 premises in hard-to-reach parts of Wales and England as part of the agreement. The agreement is funded by the UK government who will work alongside the Scottish Government and Openreach to deliver the coverage.

The contract will support significant work already being carried out through the Scottish Government’s R100 programme. It also builds on another Project Gigabit contract in Scotland, awarded in February through a partnership with the Scottish Government, for up to 11,000 premises in the Borders and Midlothian. More contracts are also expected to be signed later this year for Orkney, Shetland and across the east of Scotland.

Scottish Government Business Minister Richard Lochhead said:

This new contract brings even more investment to Scotland and we are committed to working with the UK Government and Openreach to drive efficiencies across both the R100 and Project Gigabit programmes and maximise gigabit coverage.

Through the Digital Scotland Superfast Broadband (DSSB) programme and our ongoing efforts with R100, over one million faster broadband connections have been delivered across Scotland through public investment – developing infrastructure, knowledge and experience that will be essential in ensuring the success of Project Gigabit in Scotland.

Scottish Secretary Ian Murray said:

This £157 million UK Government investment is a game changer for tens of thousands of homes and businesses in the most remote areas of Scotland. Rolling out lightning-fast broadband will equip and inspire local businesses to thrive, enable families to access vital services, and build resilient communities. Our Plan for Change recognises that rural communities are the backbone of our nation and economic growth must reach every corner of Scotland, ensuring that opportunity isn’t determined by postcode but by potential.

Project Gigabit targets places too difficult or expensive for providers to reach in their commercial build and would otherwise be left behind with older digital infrastructure. The world-class networks being built across the UK is laying the foundations needed to kickstart economic growth, creating and supporting thousands of high-skilled jobs, empowering industries of all kinds to innovate and increase productivity by taking up digital technology.

It’s also crucial to the government’s mission to break down barriers to opportunity, ensuring people can access vital services now and in the future, no matter where they are, from government services like Universal Credit and HMRC to online courses for those looking to improve their job prospects through new skills to helping pensioners combat loneliness by catching up with loved ones over higher quality video calls.

DSIT media enquiries

Email press@dsit.gov.uk

Monday to Friday, 8:30am to 6pm 020 7215 3000

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Published 1 May 2025
MIL OSI United Kingdom –
May 1, 2025
MIL-OSI USA: Apr 30, 2025 99% of Brampton Transit Workers Reject Employer’s Reduced Offer — Remain Committed to Strike for Fair Contract!

Source: US Amalgamated Transit Union

BRAMPTON, ON – Frustrated Brampton Transit workers, represented by Amalgamated Transit Union (ATU) Local 1573, have overwhelmingly rejected by 99% the City of Brampton’s latest reduced contract offer.

The vote underscores the commitment of the more than 1,400 union members to uphold their rights and secure a fair contract. Despite extensive negotiations between the ATU and Brampton Transit, including two days of conciliation, talks broke down late last week.

“Brampton Transit, essentially restarted negotiations by reducing wages significantly from their previous offer while adding new concessions to their latest offer,” says Andrew Salabie, President Business of local 1573. “The resounding rejection of our employer’s latest offer has given ATU 1573 a strong strike mandate.”

The ATU takes great pride in providing safe, reliable, and accessible service to all Brampton residents who rely on public transit and will ensure that the public is given a minimum of 72 hours advance notice before strike lines and service disruptions begin.

“We are asking our transit riders to demand that Brampton City Council take control of negotiations before the pending no-board report legal strike position is in place,” Salabie continued.

In March as contract talks stalled, the Union members voted to authorize a strike if necessary. The two sides returned to the table but talks once again broke down.

“Our Brampton Transit members play an important role in ensuring the safe and reliable transit service for our riders across Brampton,” said ATU International President John Costa. “The City of Brampton put an insulting proposal on the bargaining table, demonstrating their disrespect and disdain for these workers and riders. This overwhelming rejection of their proposed contract shows the strength and solidarity of our members in their fight for the fair and just contract they deserve.”

MIL OSI USA News –

May 1, 2025
MIL-OSI USA: WAYNE COUNTY – Governor’s Advisory Commissions Highlight Governor Josh Shapiro’s Proposed Investments to Recruit and Retain Child Care Workers, Expand Access to Quality Services in Honesdale

Source: US State of Pennsylvania

May 01, 2025 – Honesdale, PA

ADVISORY – WAYNE COUNTY – Governor’s Advisory Commissions Highlight Governor Josh Shapiro’s Proposed Investments to Recruit and Retain Child Care Workers, Expand Access to Quality Services in Honesdale

The Governor’s Advisory Commission on Women and Governor’s Advisory Commission on Latino Affairs will be joined by state legislators, local leaders, and childcare advocates to discuss Governor Shapiro’s proposed investment of $55 million to support childcare workforce recruitment and retention bonuses.

During his first two years in office, Governor Shapiro signed into law a historic expansion of the Child and Dependent Care Enhancement Tax Credit and created a new tax credit for businesses who want to contribute to their employees’ child care costs. Those two initiatives helped make child care more affordable – and the Governor’s proposal this year would make child care more available through an investment of $55 million to support child care workforce recruitment and retention grants.

WHO:
Ashley Walkowiak, Executive Director of Governor’s Advisory Commission on Women
Olga Negron, Executive Director of Governor’s Advisory Commission on Latino Affairs
State Senator Rosemary Brown, 40th Legislative District
Kristen Mang, Owner/Director of Tiny Steps Learning Center of Cherry Ridge
Pantea Shademani, Education Director for Wayne Pike Workforce Alliance

WHEN:
Thursday, May 1, 2025 at 11:45AM

WHERE:
Tiny Steps Learning Center of Cherry Ridge
2555 Lake Ariel Highway
Honesdale PA

RSVP: Press who are interested in attending must RSVP to ra-gvgovpress@pa.gov.

MIL OSI USA News –

May 1, 2025
MIL-OSI USA: Rosen Bipartisan Bill to Strengthen U.S. Telecommunications Against Foreign Adversaries Advances Out of Committee

US Senate News:

Source: United States Senator Jacky Rosen (D-NV)

WASHINGTON, DC – Today, in the U.S. Senate Commerce Committee, Senator Jacky Rosen (D-NV) helped advance legislation she introduced with Senator Deb Fischer (R-NE) to strengthen American telecommunications against foreign adversaries. The bipartisan Foreign Adversary Communications Transparency (FACT) Act would require the Federal Communications Commission (FCC) to publicly identify entities that hold FCC licenses, authorizations, or other grants of authority that are owned, wholly or partially, by foreign, adversarial governments. It now awaits consideration on the Senate floor.
“We must protect our nation in every way we can from global adversaries who are trying to hack our systems and access our information,” said Senator Rosen. “I’m glad to see that our bipartisan bill to help protect our telecommunications systems from adversarial nations, including China, Russia, and Iran, passed out of committee today. I’ll keep pushing to secure our networks and strengthen our national security.”
“We cannot let authoritarian and adversarial regimes like China and Russia continue to have silent footholds in our tech and telecommunications markets,” said Senator Fischer. “My bill will direct the FCC to evaluate the communications risks foreign ownership ties pose to America’s national security and ensure that we can respond to these threats. I’m grateful a bipartisan group of my colleagues voted yes on this legislation, and I look forward to its passage on the Senate Floor.”
Senator Rosen has been pushing to reduce the influence of our adversaries and strengthen our national security. Earlier this month, her bipartisan bill to direct the U.S. Department of State and other federal agencies to assess and counter Hezbollah’s influence in Latin America advanced in committee. Rosen also helped introduce the bipartisan No Immigration Benefits for Hamas Terrorists Act to prevent any person who participated in Hamas’s October 7 terrorist attacks from entering the United States. Additionally, Senator Rosen introduced bipartisan legislation to prohibit the use of DeepSeek — a new artificial intelligence (AI) platform with direct ties to the Chinese Communist Party — on all government devices and networks.

MIL OSI USA News –

May 1, 2025
MIL-OSI USA: Video: Kaine Speaks on Senate Floor in Advance of Vote on His Bipartisan Legislation to End Trump’s Global Tariffs

US Senate News:

Source: United States Senator for Virginia Tim Kaine

FULL VIDEO OF KAINE’S FLOOR SPEECH IS AVAILABLE HERE.

WASHINGTON, D.C. – Today, U.S. Senator Tim Kaine (D-VA) spoke on the Senate floor ahead of the Senate’s expected vote later tonight on his bipartisan legislation to repeal President Trump’s across-the-board tariffs that the White House announced on April 2. These tariffs are a national sales tax – in total, Trump’s tariffs will cost the average American household nearly $5,000 per year. In the wake of President Trump’s trade wars, manufacturers have already laid off workers, foreign countries have imposed retaliatory tariffs on U.S. agricultural and manufactured goods, and the economy has contracted.

“The Constitution of the United States puts two powers clearly … within the hands of Congress: the power to tax and the power to conduct trade policy, including the imposition of tariffs,” said Kaine. “But President Trump finds Congress an inconvenience, and he has decided to take both of these powers onto his own shoulders by imposing a national sales tax.”

“President Trump on Inauguration Day inherited the strongest economy on the Planet Earth,” Kaine continued. “We know this morning, that strong economy, which was growing for three years at a very solid pace, is now contracting. It’s not only the contraction of the economy, it’s the chaos of the stock market. It’s declining consumer confidence. It’s projections of recession by Federal Reserve districts and major economists.”

“Last week, I traveled around the Commonwealth of Virginia,” Kaine said. “I talked to businesses everywhere in my state—and they talked about the layoffs, and they talked about the spending cuts, and they talked about the tariffs. And they added those three together and said what those three add up to is chaos—the chaos of unpredictability.”

Kaine continued, “A tariff is nothing more than a sales tax. It’s a sales tax on the products that everyday Americans use, especially groceries and clothing, building supplies. For farmers, the cost of fertilizer that they need as they’re engaging in spring planting … This is a sales tax on everyone in the country, but it’s a sales tax—as all sales tax do—that falls hardest on those who can least afford it.”

“A larger share of manufacturers are reporting declines in new orders … Some of those declines are driven because of the price effect of tariffs, the price effect of retaliatory tariffs, but some are also being driven by the uncertainty. There is a chaos penalty to the economy. When you’re not sure what’s going to happen, you slow your investments, and that’s why you see a decline in manufacturing,” Kaine said. “Businesses want to have predictability.”

“So how did we get here? From an economy on Inauguration Day that was the strongest in the world—when President Trump stood 50 yards from here and said it was a golden age—to an economy that has nothing but red lights and question marks all over it?” Kaine asked. “We got here because one individual decided to bypass Congress to take both the taxing power and the trade power into his own hands without a debate, without a committee hearing, without deliberation, without considering what people thought about the plan, and that one man and his decisions have taken a chainsaw to the American economy.

Kaine concluded, “We must turn this around, and the good news is the Senate has the ability to turn it around … All the economic trends are pointing the same direction. We should take a different path on the economy before it gets worse. The vote we will have later today gives the Senate—the greatest deliberative body in the world—the chance to stand up and say ‘Let’s take a different path.’”

Earlier this month, bipartisan legislation led by Kaine to reverse President Trump’s tariffs on Canadian goods, which amount to a 25 percent tax on imports, passed the Senate.

MIL OSI USA News –

May 1, 2025
MIL-OSI: Westport Announces Lock-Up Agreements in Support of the Light-Duty Divestment Transaction

Source: GlobeNewswire (MIL-OSI)

VANCOUVER, British Columbia, April 30, 2025 (GLOBE NEWSWIRE) — Westport Fuel Systems Inc. (“Westport” or the “Company”) (TSX:WPRT / Nasdaq:WPRT), has entered into lock-up agreements with certain of its shareholders, executives and board members representing an aggregate of approximately 2.0 million shares, or 11.4% of the currently issued and outstanding shares, to vote in favour of the special resolution approving the sale of Westport Fuel Systems Italia S.r.l. (the “Lock-Up Agreements”).

“These Lock-Up Agreements are a significant vote of confidence in Westport’s strategic direction and growth potential. I am thankful to our key shareholders and our Board, for their continued support as we execute our plans to reduce the complexity of Westport’s business and move forward focusing on providing affordable solutions for hard to decarbonize segments of the heavy-duty truck and industrial application, supported by a strengthened balance sheet,” said Dan Sceli, Chief Executive Officer, Westport Fuel Systems.”

Recap of the Transaction

On March 31, 2025 Westport announced it had entered into a binding agreement (the “Agreement”) to sell its interest in Westport Fuel Systems Italia S.r.l., which includes the Light-Duty segment, including the light-duty OEM, delayed OEM, and independent aftermarket businesses, to a wholly-owned investment vehicle of Heliaca Investments Coöperatief U.A. (“Heliaca Investments”), a Netherlands based investment firm supported by Ramphastos Investments Management B.V. a prominent Dutch venture capital and private equity firm (the “Transaction”).

The Transaction provides for a base purchase price of $73.1 million (€67.7 million), subject to certain adjustments, and potential earnouts of up to an estimated $6.5 million (€6.0 million) if certain conditions are achieved, in accordance with the terms of the Agreement.

Under the terms of the Agreement, Heliaca Investments through its subsidiary will acquire Westport’s Light-Duty segment, including its related assets and customer contracts. The Transaction is subject to shareholder approval and other customary closing conditions and is expected to close in late Q2 of 2025.

The proceeds from the proposed Transaction are expected to enable Westport to significantly improve its financial stability, while also supporting key growth initiatives focused on providing solutions for hard-to-decarbonize mobility and industrial applications. Following closing, Westport intends to align its cost structure to be more reflective of a smaller, more efficient organization, while also seeking further opportunities for efficiency gains.

About Westport Fuel Systems

At Westport Fuel Systems, we are driving innovation to power a cleaner tomorrow. We are a leading supplier of advanced fuel delivery components and systems for clean, low-carbon fuels such as natural gas, renewable natural gas, propane, and hydrogen to the global transportation industry. Our technology delivers the performance and fuel efficiency required by transportation applications and the environmental benefits that address climate change and urban air quality challenges. Headquartered in Vancouver, Canada, with operations in Europe, Asia, North America, and South America, we serve our customers in approximately 70 countries with leading global transportation brands. At Westport Fuel Systems, we think ahead. For more information, visit www.wfsinc.com.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements, including statements regarding the closing of, and timing for closing of, the Transaction, shareholder approval of the Transaction, the anticipated benefits of the Transaction, including potential earn-out payments, the ability to strengthen our balance sheet and align our cost structure, the ability to capitalize on growth initiatives, the ability to transition to a smaller, more efficient organization and our expectations regarding the future success of our business. Other forward-looking statements included in the release include those relating to Westport’s future strategic plans, business opportunities and use of the Transaction proceeds. These statements are neither promises nor guarantees but involve known and unknown risks and uncertainties and are based on both the views of management and assumptions that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activities, performance, or achievements expressed in or implied by these forward-looking statements. These risks, uncertainties, and assumptions include those related to completion and satisfaction of all conditions to closing of the Transaction set out in the Agreement, governmental policies, regulation and approval, the achievement of the performance criteria required for the earn out described above, purchase price adjustments contained in the Agreement, the demand our products, as well as other risk factors and assumptions that may affect our actual results, performance, or achievements, as discussed in our most recent Annual Information Form and other filings with securities regulators. Readers should not place undue reliance on any such forward-looking statements, which speak only as of the date they were made. We disclaim any obligation to publicly update or revise such statements to reflect any change in our expectations or in events, conditions, or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in these forward-looking statements except as required by National Instrument 51-102. The contents of any website referenced in this press release are not incorporated by reference herein.

Investor Inquiries:
Investor Relations
T: +1 604-718-2046
E: invest@wfsinc.com

The MIL Network –

May 1, 2025
MIL-OSI: Automotive Finco Corp. Files Audited Consolidated Financial Statements For The Years ended December 31, 2024 and December 31, 2023

Source: GlobeNewswire (MIL-OSI)

Not for distribution to United States newswire services or for dissemination in the United States. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States.

TORONTO, April 30, 2025 (GLOBE NEWSWIRE) — Automotive Finco Corp. (NEX: AFCC-H) (the “Company”) today announced that it has filed audited consolidated financial statements for the years ended December 31, 2024 and December 31, 2023. The statements, together with the Management Discussion and Analysis, can be found on the Company’s SEDAR+ profile at www.sedarplus.ca.

About Automotive Finco Corp.

Automotive Finco Corp. is a finance company focused exclusively on the auto retail sector. In addition to its interest in Automotive Finance Limited Partnership, the Company may also pursue other direct investments and financing opportunities across the auto retail sector.

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.

For further information please refer to the Company’s website at www.autofincocorp.com or contact Shannon Penney, Chief Financial Officer, at shannon.penney@rogers.com or (905) 619-4996.

The MIL Network –

May 1, 2025
MIL-OSI: Freehold Royalties Announces Refinement of Business Structure with Termination of the Management Agreement

Source: GlobeNewswire (MIL-OSI)

CALGARY, Alberta, April 30, 2025 (GLOBE NEWSWIRE) — Freehold Royalties Ltd. (Freehold or the Company) (TSX:FRU) and Rife Resources Management Ltd. (Rife) have mutually agreed to terminate the management agreement and associated services that Rife has historically provided Freehold.

Effective May 1, 2025, Freehold will have a fully dedicated executive team and employee base and will no longer use the shared or advisory services of Rife to conduct its business. Freehold will not pay any termination fees or future management fees to Rife and the Company does not anticipate any meaningful differences in its go-forward cost structure.

The Freehold executive team will be the seasoned and familiar team that has built the Company into the high margin North American royalty business that we are today. David Spyker will continue as President and CEO, David Hendry as CFO and VP Finance until his successor is named, Rob King as COO along with VP’s Susan Nagy and Colin Strem leading our asset optimization and acquisition initiatives and Lisa Farstad leading corporate services. They will be supported by 46 full time employees with technical, financial and asset management expertise. The leadership and employee continuity will ensure a seamless and stable transition to the revised governance and operating model, while focusing 100% of their talents into continuing to build the North American royalty platform.

“With the strategic positioning and business growth of Freehold over the past five years, our Board of Directors felt it was the right time to evolve from the management arrangement that has been in place since 1996”, said Marvin Romanow, Chairman of Freehold. “Having a dedicated team solely focused on Freehold’s assets and strategies will streamline our operations and simplify our governance as we drive sustained value creation for our shareholders and continue to position Freehold as a leading North American royalty company.”

“CN Investment Division (CNID), through Rife, has been a skilled provider of the leadership and resources required to manage the Freehold business since its’ IPO in 1996 and has always been the Company’s largest shareholder. As Freehold has grown considerably in recent years, including its’ successful entry into the premier resource basins in the United States, now is the ideal time to revise its’ governance and facilitate a new business structure. CNID fully supports this transition and is excited about the next chapter in Freehold’s story. CNID remains committed to the energy and royalties’ sector and continues to be a strong supporter of Freehold through its long-standing ownership and representation on the Board of Directors” said Mathieu Roy, Managing Director Real Assets at CNID, investment advisor of the CN Pension Trust Funds, and a Freehold board member. CNID will continue to have a nomination right for one director under a new governance agreement which is expected to be in place by year-end 2025.

The termination date for the management agreement will be December 31, 2025. With the dedicated leadership and employee team in place from May 1, 2025, the Company will work on an orderly and efficient transition of systems, software, workflows, files and office space. Freehold’s sharpened focus, dedicated leadership and energized team mark a new era of possibilities as we continue our journey of business excellence.

For further information contact

Freehold Royalties Ltd.

Forward-Looking Statements

This news release offers our assessment of Freehold’s future plans and operations as at April 30, 2025 and contains forward-looking information including, without limitation, with regards to: the expectation that the Company will not pay any termination fees or future management fees; the expectation that the Company will not have any meaningful differences in its go forward cost structure; the anticipated leadership team of Freehold; the effective date of termination of the management agreement; certain terms associated with termination of the management agreement; the expected benefits of the termination of the management agreement; the expectation that there will be seamless and stable integration of the new governance structure; the intent to continue to build the North American royalty platform; the expectation that a new governance agreement will be agreed to prior to year-end December 31, 2025 that will continue to give CNID a nomination right for one director.

This forward-looking information is provided to allow readers to better understand our business and prospects and may not be suitable for other purposes. By its nature, forward-looking information is subject to numerous risks and uncertainties, some of which are beyond our control, including the demand for oil and natural gas, general economic conditions, the impacts of tariffs and other retaliatory trade actions taken by the United States, Canada and other countries; industry conditions, the impact of the Russia-Ukraine war and the Israel-Hamas-Hezbollah conflict on the global economy and commodity prices, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, royalties, environmental risks, taxation, regulation, changes in tax or other legislation, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility, our ability to access sufficient capital from internal and external sources. Certain terms relating to the termination of the management agreement and the transition to independent management of Freehold are yet to be negotiated and determined by Freehold and Rife and, as such, there is a risk that the transition may not occur in the manner or on the terms as contemplated herein. Risks are described in more detail in Freehold’s annual information form for the year ended December 31, 2024 which is available under Freehold’s profile on SEDAR+ at www.sedarplus.ca.

The forward-looking information contained in this press release is based on certain assumptions including that Freehold and Rife will successfully negotiate and determine all transitional matters required for Freehold to successfully operate under independent management and certain other assumptions identified herein. You are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward looking information. We can give no assurance that any of the events anticipated will transpire or occur, or if any of them do, what benefits we will derive from them. The forward-looking information contained herein is expressly qualified by this cautionary statement. Our policy for updating forward-looking statements is to update our key operating assumptions quarterly and, except as required by law, we do not undertake to update any other forward-looking statements.

The MIL Network –

May 1, 2025
MIL-OSI: Republic Digital Acquisition Company Announces the Pricing of Upsized $264,000,000 Initial Public Offering

Source: GlobeNewswire (MIL-OSI)

New York, NY, April 30, 2025 (GLOBE NEWSWIRE) — Republic Digital Acquisition Company (the “Company”) announced today the pricing of its upsized initial public offering of 26,400,000 units at a price of $10.00 per unit. The units are expected to be listed on The Nasdaq Global Stock Market LLC (“Nasdaq”) and begin trading on May 1, 2025, under the ticker symbol “RDAGU.” Each unit consists of one Class A ordinary share and one-half of one redeemable warrant, each whole warrant entitling the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share, subject to certain adjustments. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. An amount equal to $10.00 per unit will be deposited into a trust account upon the closing of the offering. Once the securities constituting the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on Nasdaq under the symbols “RDAG” and “RDAGW,” respectively. The offering is expected to close on May 2, 2025, subject to customary closing conditions. The Company has granted the underwriters a 45-day option to purchase up to an additional 3,960,000 units at the initial public offering price to cover over-allotments, if any.

The Company is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company may pursue an acquisition opportunity in any business or industry but expects to focus on a target in fintech, software and cryptocurrency industries.

The Company’s management team is led by Joseph Naggar, the Chief Executive Officer, Chief Investment Officer and Director, and Ian Goodman, its Chief Financial Officer. The Board of Directors also includes Andrew Durgee, Barry Finkelstein, Laya Khadjavi and Robert Matza.

Cantor Fitzgerald & Co. is acting as sole book-running manager for the offering.

The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from Cantor Fitzgerald & Co., Attention: Capital Markets, 110 East 59^th Street, New York, New York 10022, or by email at prospectus@cantor.com, or by accessing the SEC’s website, www.sec.gov.

A registration statement relating to the securities has been filed with the U.S. Securities and Exchange Commission (“SEC”) and became effective on April 30, 2025. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to the expected closing of the proposed initial public offering and search for an initial business combination. No assurance can be given that the offering discussed above will be completed on the terms described, or at all.

Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the “Risk Factors” section of the Company’s registration statement and prospectus for the Company’s initial public offering filed with the SEC. Copies of these documents are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Investor Contacts

Republic Digital Acquisition Company
RDAC-PR@republic.co

The MIL Network –

May 1, 2025
MIL-OSI USA: Chairman Capito Leads Hearing Examining Water Infrastructure Successes from IIJA

US Senate News:

Source: United States Senator for West Virginia Shelley Moore Capito
WASHINGTON, D.C. – Today, U.S. Senator Shelley Moore Capito (R-W.Va.), Chairman of the Senate Environment and Public Works (EPW) Committee, led a hearing examining successes from water infrastructure policies and provisions in the Infrastructure Investment and Jobs Act (IIJA). This hearing serves as the foundation for the EPW Committee’s work to craft bipartisan legislation to reauthorize water infrastructure programs ahead of their expiration next year.
In her opening remarks, Chairman Capito outlined her principles for this reauthorization effort, centered on policies that enhance rural and underserved communities’ ability to deliver water projects, strengthen cooperative federalism, and deliver outcomes that prioritize safe water and reliable infrastructure.
Below is the opening statement of Chairman Shelley Moore Capito (R-W.Va.) as delivered.
“Welcome to today’s hearing to examine the policies to strengthen our nation’s water infrastructure.
“Again, I want to thank the witnesses for joining us and for the important work you do every single day to deliver safe, reliable water and sanitation services in your various communities.
“This is our first hearing to discuss how we can build on the successes of the Infrastructure Investment and Jobs Act, the IIJA, the water infrastructure provisions as we prepare bipartisan legislation to reauthorize those programs.
“In November of 2021 Congress passed the IIJA, which included the Drinking Water and Wastewater Infrastructure Act, a bipartisan bill that was developed and championed by this Committee.
“That legislation represented the largest federal investment in water infrastructure in our nation’s history, delivering more than $50 billion for drinking water, wastewater, and stormwater programs.
“Since then, thousands of projects have started, including projects to upgrade treatment plants, replace aging systems, and support the needs of our small communities.
“In short, this law is moving our nation’s water infrastructure systems forward. Despite this progress, the historic investment of the IIJA expires next year and we must get to work now to build on that progress while addressing any concerns with its implementation.
“As we work together to reauthorize the IIJA’s water programs, I will prioritize policies that strengthen underserved communities’ abilities to deliver water projects, reinforce the cooperative federalism principle embedded in our laws, and focus on outcomes that prioritize safe water and sound infrastructure.
“I can say anecdotally, in my small state of West Virginia, there are still pockets of our communities that don’t have the access to clean water, drinking water that they should and deserve to have.
“Achieving those goals requires us to take a clear-eyed look at the challenges communities face and ensure the tools we have provided are as effective and accessible as possible.
“First, we should seek to simplify the delivery mechanisms for water infrastructure funding. This is a repeating theme in about everything we’ve been looking at. Many small and underserved communities continue to face barriers to access to federal money.
“Communities may struggle with capacity, technical complexity, and long federal timelines of disbursing the funding. This can lead to communities giving up before they can even get a shovel in the ground.
“We can fix these issues by providing targeted technical resources and assistance to help utilities and local governments navigate complex funding applications and simplifying the Environmental Protection Agency’s processes.
“Second, our reauthorization should reinforce what works, including honoring the foundational principle of cooperative federalism. For decades the Clean Water Act and Safe Drinking Water Act have recognized that states, not Washington, are best positioned to understand the infrastructure needs of our communities.
“Federal funding and oversight are important, but implementation must be led by the states. The Biden EPA shifted away from that balance Congress intended between federal support and state leadership, by pushing one-size-fits-all mandates and layering on new criteria that go far beyond what Congress authorized.
“We’ve also seen the increased emphasis on ‘environmental justice’ initiatives, and while the goal of supporting all underserved communities, regardless of background, is broadly supported, implementation of these ‘environmental justice’ initiatives has at times departed from the statute’s original direction and strayed from that broader goal.
“Directing resources to underserved communities was a shared goal when we wrote the IIJA and the commitment remains. But we did not write a law that allows agencies to introduce new eligibility standards or funding formulas that may unintentionally overlook real infrastructure needs or second-guess shared and state priorities.
“That approach is not only counterproductive, it risks leaving behind the very communities these programs were designed to help. Across the country, many low-income and underserved communities continue to grapple with major water infrastructure needs, yet rigid eligibility requirements in recent funding programs left some of them behind.
“That runs counter to the bipartisan goals that we set when this law was written, to ensure all communities have a fair opportunity to benefit from these important programs.
“That’s why we dedicated funds for systems of different sizes and why we provided State Revolving Funds the flexibility for each state to meet their individual needs.
“This Committee worked in a bipartisan way to craft these programs, and going forward, implementation must remain true to the intent, not drift into interpretations that complicate access or confuse applicants.
“My third guiding principle is that a successful bill and implementation of EPA’s water programs must be focused on outcomes. Enacting policies that are consistently driven by successful outcomes will help ensure that every American, no matter where they live, can count on the basic services they deserve.
“That’s what this Committee has always focused on and it’s what I will continue to prioritize as Chairman. I look forward to hearing from our witnesses and to kick off our work to reauthorize and improve our nation’s water infrastructure programs.”

MIL OSI USA News –

May 1, 2025
MIL-OSI USA: Cotton, Colleagues Reintroduce the Living Donor Protection Act

US Senate News:

Source: United States Senator for Arkansas Tom Cotton

FOR IMMEDIATE RELEASEContact: Caroline Tabler or Patrick McCann (202) 224-2353April 30, 2025
Cotton, Gillibrand, and Colleagues Reintroduce the Living Donor Protection Act
Washington, D.C. — Senator Tom Cotton (R-Arkansas) and Senator Kristen Gillibrand (D-New York) today reintroduced the Living Donor Protection Act, legislation that will protect the rights of living organ donors. The Living Donor Protection Act would ensure living donors do not face discrimination from insurance companies, codify Department of Labor (DOL) guidance that covers living donors under the Family Medical Leave Act (FMLA) in the private and civil service, remove barriers to organ donation, and provide certainty to donors and recipients.
Co-sponsoring the legislation are Senators Marsha Blackburn (R-Tennessee), Richard Blumenthal (D-Connecticut), Shelley Moore Capito (R-West Virginia), Chris Coons (D-Delaware), Dick Durbin (D-Illinois), Kristen Gillibrand (D-New York), Cindy Hyde-Smith (R-Mississippi), Tim Kaine (D-Virginia), Mark Kelly (D-Arizona), Angus King (I-Maine), Amy Klobuchar (D-Minnesota), Ben Ray Luján (D-New Mexico), Jeff Merkley (D-Oregon), Pete Ricketts (R-Nebraska), Jacky Rosen (D-Nevada), Jeanne Shaheen (D-New Hampshire), Tina Smith (D-Minnesota), Thom Tillis (R-North Carolina), Raphael Warnock (D-Georgia), Sheldon Whitehouse (D-Rhode Island), and Ron Wyden (D-Oregon). Representatives Jerrold Nadler (New York-12) and Don Bacon (Nebraska-02) are introducing companion legislation in the House.
“Organ donors make an extraordinary sacrifice so someone else can have a new chance at life,” said Senator Cotton. “The Living Donor Protection Act would encourage more donors to step forward by protecting them from adverse consequences like denial of coverage and job loss.”
“It’s a tragedy that so many people die while waiting for life-saving organ donations. We must do more to remove the barriers that keep Americans from donating,” said Senator Gillibrand. “The Living Donor Protection Act would help ensure that the individuals who are willing to save someone’s life through an organ donation can do so without worrying that they’ll face insurance discrimination or that they could lose their job as they recover. I am proud to be introducing this bipartisan legislation and will keep fighting to finally get it passed.”
“Our state is fortunate to have Nebraska Medicine, which has a robust living donor kidney exchange program, performing more kidney chains which involves anonymous donors donating to someone without a compatible living donor, than almost any hospital nationwide. However, some living donors are discriminated against when it comes to rates and provision of life insurance and disability insurance,” said Representative Bacon. “They also don’t always receive adequate time to recover from the surgeries related to their selfless gift. This legislation will help open the doors to more living donors so we can save more lives.”
“When an organ donor decides to donate one of their organs to someone else, they aren’t just saving someone’s life—they’re making one of the most selfless, difficult decisions anyone could ever make. The last thing they need in the midst of that challenging process is to be confronted by needless roadblocks or insurance discrimination,” said Representative Nadler. “These roadblocks can make it economically impossible for potential donors to make that choice and, simply put, they are costing lives. April is National Donate Life Month, and I’m proud to introduce the Living Donor Protection Act to bring awareness to this issue and knock down these needless barriers to lifesaving organ donation.”
Full text of the bill may be found here.
The Living Donor Protection Act would:
Prohibit life, disability, and long-term care insurance companies from denying or limiting coverage and from charging higher premiums for living organ donors.
Amend the Family and Medical Leave Act of 1993 to specifically include living organ donation as a serious health condition for private and civil service employees.
Direct the U.S. Department of Health and Human Services (HHS) to update their material on live organ donation to reflect these new protections and encourage more individuals to consider donating an organ.

MIL OSI USA News –

May 1, 2025
MIL-OSI USA: HARRISBURG – Governor Shapiro to Unveil New Hotline, Website to Protect Pennsylvania Consumers

Source: US State of Pennsylvania

May 01, 2025 – Harrisburg, PA

ADVISORY – HARRISBURG – Governor Shapiro to Unveil New Hotline, Website to Protect Pennsylvania Consumers

Governor Josh Shapiro, Department of Banking and Securities Secretary Wendy Spicher, and Pennsylvania Insurance Department Commissioner Michael Humphreys will join financial protection leaders to announce new tools and resources to help protect Pennsylvanians from financial, insurance, and consumer scams.

As the federal government slashes the Consumer Financial Protection Bureau and steps back its responsibility to protect consumers, the Shapiro Administration is taking action to ensure all Pennsylvanians have continued access to resources and services when facing fraud, predatory practices, or unfair treatment.

WHO:
Governor Josh Shapiro
Secretary Wendy Spicher, Department of Banking and Securities
Commissioner Michael Humphreys, Pennsylvania Insurance Department
Deputy Insurance Commissioner David Buono, Pennsylvania Insurance Department
Debby Freedman, Executive Director of Community Legal Services of Philadelphia
Tom Lynch, President of the Mortgage Bankers Association of Eastern PA
Jonathan Smith, Consumer Services Specialist, Department of Banking and Securities

WHEN:
Thursday, May 1, 2025, at 1:00PM

WHERE:
Pennsylvania Insurance Department
13th Floor of Strawberry Square
1326 Strawberry Street,
Harrisburg, PA 17120
*Press credentials must be presented at security check-in prior to attending the event

LIVE STREAM:
pacast.com/live/gov
governor.pa.gov/live/

RSVP:
Press who are interested in attending must RSVP with the names and phone numbers for each member of their team to ra-gvgovpress@pa.gov.

MIL OSI USA News –

May 1, 2025
MIL-OSI: Scuderia Ferrari and HP Fuse Technology and Design with Special Livery for Miami Grand Prix
Source: GlobeNewswire (MIL-OSI)

News Highlights:
- Scuderia Ferrari and HP collaborate to co-engineer livery wrapping technologies pushing the boundaries of design possibilities in the near future
- Debut of special edition livery for Miami GP to mark the first year of title partnership
- With the latest-generation HP technology, Ferrari is building the working environment of the future in Maranello and at the track
MIAMI, Fla., April 30, 2025 (GLOBE NEWSWIRE) — Scuderia Ferrari and HP Inc. (NYSE: HPQ) today revealed a special co-designed livery, ahead of the Miami Grand Prix, marking the first year of their title partnership. Unveiled this afternoon in downtown Miami by the Scuderia Ferrari HP drivers and Team Principal, Fred Vasseur, the cutting-edge livery is a result of deep collaboration between the two companies, pushing the boundaries of visual design and performance.

The livery combines the Ferrari red with HP’s signature white and electric blue, applied using new, co-engineered technologies that will pave the way for even more striking designs in the future.

Co-Engineering for Performance

As part of a series of ongoing joint projects between HP and Scuderia Ferrari engineers, the Miami livery development stands out as a clear example of innovation in action. Engineering teams from both Ferrari in Maranello and HP in Barcelona worked hand in hand and experimented with technologies and materials to achieve the final result.

Innovative techniques were used to produce the film that covers part of the SF-25. These represent a significant step forward over the technology used last year, creating a car wrap that is up to 14% lighter and up to 17% thinner, with increased thermal resistance¹. The film is PVC-free, fully recyclable, and applied using HP’s latest generation of latex technology.

Formula 1 is constantly evolving, and both companies will continue to refine wrap technologies together — making them even more efficient, enabling bolder aesthetics and design innovation while reducing the time required to apply the film.

Miami GP Special Livery

The special livery design for this weekend reflects the evolution of this partnership and the shared effort behind it. For the first time in the Scuderia’s history, the livery on Charles Leclerc’s and Lewis Hamilton’s SF-25s features asymmetric graphic elements. Touches of HP’s signature electric blue appear on the front and rear wings, although Ferrari red is still the dominant color. The wheels are painted white, creating a clean, modern look that embodies the team’s innovative vision.

This livery is not just a styling exercise, it is a tangible celebration of shared ambition – two companies, two visions, united by technology and creativity, working together to push the boundaries of what is possible.

Building the Working Environment of the Future

The collaboration is also transforming how Ferrari works at the track and in Maranello, with the installation of hundreds of HP laptops, monitors, powerful workstations, and printers in the factory and in the team’s mobile offices at the Formula 1 World Championship events. Thanks to this latest generation of high-performance and user-friendly technology, business efficiency, productivity, and collaboration have also been enhanced.

This ongoing partnership between HP and Ferrari exemplifies how technology can enhance work experiences, promoting greater fulfillment and productivity, while HP’s continued technology integration at Ferrari creates a positive working environment for employees to thrive.

In the Fan Zone and on Track

In addition to the special livery reveal, a variety of activities will take place in the HP Experience area at the Wynwood Marketplace, showcasing how HP technology is supporting Scuderia Ferrari, and how it can empower workers and companies around the world to achieve greater work fulfillment. Starting tomorrow, fans heading to the racetrack will also notice that the drivers’ race suits and helmets have been designed to match the special livery created for the Miami race.

“Our collaboration with Ferrari is a testament to how HP is pushing the boundaries of what’s possible,” said Enrique Lores, President and CEO, HP Inc. “Together, we are harnessing technology, performance, and innovation to create and co-engineer exceptional experiences on and off the track. As HP continues to deliver cutting-edge solutions to define the Future of Work, we are setting new standards for collaboration and innovation.”

Benedetto Vigna, CEO Ferrari commented: “It all started one year ago at the Miami Grand Prix and since then, we’ve seen how deeply aligned our two companies are when it comes to the importance of people to boosting innovation, striving for excellence, and pushing boundaries.

“This Grand Prix will mark the return to the place where the collaboration between our two companies began, with a celebration of this journey featuring a bold new asymmetric livery. It is an expression of our shared belief in the power of design, technology, and performance to drive meaningful change.

“Beyond the racetrack, this partnership has also allowed us to elevate how we work every day. Thanks to HP’s cutting-edge devices and technologies, we’ve been able to enhance the efficiency, connectivity, and flexibility of our workspaces, providing every member of our team with the best possible environment in which to perform at their highest level. It’s a symbol of how far we’ve come together, and a glimpse of the road ahead. We’re proud to continue this collaboration with HP as we look to a very promising future.”

About Scuderia Ferrari HP

Scuderia Ferrari is the most successful team in Formula 1 history, having competed in every season since the championship’s inception in 1950. With over 1,100 Grand Prix entries, the team has scored nearly 250 victories, 16 Constructors’ Championships, and 15 Drivers’ Championships. Legendary names such as Michael Schumacher, Niki Lauda, and Alberto Ascari have all contributed to Scuderia Ferrari’s rich and storied legacy. Headquartered in Maranello, Italy, Scuderia Ferrari HP is synonymous with engineering excellence, relentless innovation, and an unwavering passion for motorsport. Its red cars have become a global symbol of performance and prestige — a reflection of the team’s enduring influence both on and off the track.

About HP

HP Inc. is a global technology leader and creator of solutions that enable people to bring their ideas to life and connect to the things that matter most. Operating in more than 170 countries, HP delivers a wide range of innovative and sustainable devices, services and subscriptions for personal computing, printing, 3D printing, hybrid work, gaming, and more. For more information, please visit http://www.hp.com.

Media Contacts

MediaRelations@hp.com
hp.com/go/newsroom

¹ Based on proprietary data and testing from Ferrari and HP and when compared with 2024. Results current as of April 30, 2025.

The MIL Network –
May 1, 2025
MIL-OSI: Business First Bancshares, Inc. Appoints Alejandro M. Sanchez to its Board of Directors

Source: GlobeNewswire (MIL-OSI)

BATON ROUGE, La., April 30, 2025 (GLOBE NEWSWIRE) — Business First Bancshares Inc. (Nasdaq: BFST), the holding company for b1BANK, has announced the appointment of Alejandro M. Sanchez to the Business First Bancshares, Inc. Board of Directors and b1BANK Board of Directors, effective March 27, 2025.

Sanchez is the president and CEO of Salva Financial Group of Florida, a consulting group advising financial institutions on strategic planning, regulatory compliance and crisis management. He also serves as an executive advisor to Nasdaq and holds board positions with Popular, Inc. (Nasdaq: BPOP), the holding company for Popular Bank and Republic Bancorp, Inc. (Nasdaq: RBCAA), the holding company for Republic Bank & Trust, contributing expertise in governance, risk management and audit oversight.

Sanchez led the Florida Bankers Association as president and CEO from 1998 to 2023, advocating for the state’s banking industry. He was nominated by President George W. Bush as one of three Presidential appointees for the Federal Retirement Thrift Investment Board from 2002 to 2010 and was invited by President Obama to serve an additional two years.

“Alex’s deep experience guiding financial institutions through complex regulatory environments and strategic transformations aligns closely with our growth strategy and governance objectives,” said Jude Melville, chairman and CEO of b1BANK. “His leadership and seasoned perspective will help us thoughtfully navigate opportunities and challenges, enhancing our capacity to serve our clients and communities effectively.”

“It is an honor to join the Business First Bancshares board,” said Sanchez. “I look forward to contributing to the company’s strategic vision and ongoing success.”

Sanchez holds a Doctorate from the University of Iowa College of Law and a Bachelor of Science from Troy University. He served in the U.S. Air Force from 1976 to 1981.

About Business First Bancshares Inc.

As of March 31, 2025, Business First Bancshares, Inc., (Nasdaq: BFST) through its banking subsidiary b1BANK, has $7.8 billion in assets, $7.1 billion in assets under management through b1BANK’s affiliate Smith Shellnut Wilson, LLC (SSW) (excludes $0.9 billion of b1BANK assets managed by SSW) and operates Banking Centers and Loan Production Offices in markets across Louisiana and Texas providing commercial and personal banking products and services. b1BANK is a 2024 Mastercard “Innovation Award” winner and multiyear winner of American Banker Magazine’s “Best Banks to Work For.” Visit b1BANK.com for more information.

Media Contact: Misty Albrecht
b1BANK
225.286.7879
Misty.Albrecht@b1BANK.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1b9e3cc0-4786-4497-9e7c-ce188ece6be6

The MIL Network –

May 1, 2025
MIL-OSI Economics: China VC funding value down by more than 50% YoY in Q1 2025, finds GlobalData

Source: GlobalData

China VC funding value down by more than 50% YoY in Q1 2025, finds GlobalData

Posted in Business Fundamentals

The venture capital (VC) funding landscape in China has experienced a notable contraction in the first quarter (Q1) of 2025 wherein deal volume and value have both seen significant declines compared to the same period in previous year. China recorded a year-on-year (YoY) decrease of around 18% in VC deal volume in Q1 2025. The value of VC funding has YoY plummeted even more drastically at more than 50%, according to GlobalData, a leading data and analytics company.

Aurojyoti Bose, Lead Analyst at GlobalData, comments: “The contraction highlights the challenges startups are facing in securing funding for growth and innovation. The downturn could be attributed to several factors, including increased regulatory scrutiny, slowdown in economy, and geopolitical tensions that have made investors more cautious. Although the recent downturn raises concerns related to investor sentiments, the country still holds a significant share of global VC activity.”

An analysis of GlobalData’s Deals Database revealed that despite the decline, China’s share of global deal volume remains substantial, accounting for more than 15% of the total number of VC deals announced globally during the quarter.

But on the other hand, this sharp drop in funding value has resulted in China’s share of global deal value fall from 21.8% in Q1 2024 to 9.3% in Q1 2025. In contrast, the US has seen a remarkable increase in VC funding value, further widening the gap between these two economic powerhouses.

Bose concludes: “While the country remains a vital hub for venture capital, the current environment reflects a recalibration of investor sentiment. The decline in both deal volume and value indicates that investors are becoming more selective, focusing on sectors or start-ups with clear growth potential and sustainable business models.”

Note: Historic data may change in case some deals get added to previous months because of a delay in disclosure of information in the public domain.

MIL OSI Economics –

May 1, 2025
MIL-OSI Economics: Saudi Arabia card payments to surpass $160 billion in 2025 amid digital shift and policy push, forecasts GlobalData

Source: GlobalData

Saudi Arabia card payments to surpass $160 billion in 2025 amid digital shift and policy push, forecasts GlobalData

Posted in Banking

Saudi Arabia’s card payments market is projected to reach SAR615.5 billion ($164.1 billion) in 2025, driven by a growing shift toward digital transactions and declining cash usage. Strong government support, improved payment infrastructure, and increasing consumer preference for contactless and electronic payments are accelerating this transition, reinforcing the Kingdom’s broader goals of financial inclusion and reduced reliance on cash, according to GlobalData, a leading data and analytics company.

GlobalData’s report, “Saudi Arabia Cards and Payments: Opportunities and Risks to 2028,” reveals that the card payment value in the Saudi Arabia registered a growth of 10.1% in 2024 to reach SAR571.2 billion ($152.3 billion), driven by the rise in consumer spending.

However, the current global uncertainty because of latest US tariffs can pose a challenge for the Saudi Arabia’s overall economic growth, resulting in slowdown in the overall card payments value, which is expected to grow by 7.8% in 2025.

Ravi Sharma, Lead Banking and Payments Analyst at GlobalData, comments: “While cash has traditionally been the preferred method of payment in Saudi Arabia, it’s usage is on decline in line with the rising consumer preference for electronic payments. The country has a robust digital payment infrastructure, supported by a developing card market and well-established card acceptance infrastructure. The government is taking steps to enhance the infrastructure by encouraging merchants to adopt at least one electronic payment option apart from cash.”

Cash remains an integral part of the Saudi consumer payments landscape, particularly for lower-value transactions. However, there has been a consistent increase in electronic payment methods. The government aims to reduce the country’s dependence on cash, drive financial inclusion, promote electronic payments, and encourage payment innovation. The Kingdom’s Vision 2030 plan aims to reduce cash transactions and increase the share of electronic payments.

As of April 2025, seven banks in Saudi—Al Rajhi Bank, Riyad Bank, Arab National Bank, Banque Saudi Fransi, the Saudi Investment Bank (SAIB), Bank AlJazira, and Bank AlBilad—had obtained SAMA’s license to provide agent banking services.

The COVID-19 pandemic changed the way Saudi consumers make payments, with an increasing number of consumers preferring contactless payments supported by an improved payment infrastructure.

According to the country’s central bank, number of contactless card payments using mada cards increased from 3.1 billion in 2021 to 4.6 billion in 2024. In terms of value, SAR311.3 billion ($83.01 billion) worth of contactless card transactions were made in 2024 – up from SAR301.6 billion ($80.43 billion) in 2021.

Debit cards dominate the overall card payment space, accounting for 79.9% of the overall card payment value in 2024. The government’s financial inclusion initiatives, consumers’ preference for debt-free payments, and prudent consumer spending have resulted in their dominance. Credit and charge cards, on the other hand, are not very popular primarily due to a religious aversion towards debt.

Sharma concludes: “The Saudi Arabia payment card market is expected to continue grow supported by government initiatives, rising consumer preference for digital payments, and improving banking and payment infrastructure. The card payments value is expected to register a compound annual growth rate (CAGR) of 6.5% between 2025 to 2029 to reach SAR790.5 billion ($210.8 billion) in 2029.”

MIL OSI Economics –

May 1, 2025

Category: Business

Scotland’s most remote towns and villages get huge broadband upgrade as UK government vows to end digital exclusion plight

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