Category: Canada

MIL-OSI Asia-Pac: SFST’s speech at “Hong Kong Night” business networking reception and seminar in Vancouver, Canada (English only) (with photo)

Source: Hong Kong Government special administrative region

SFST’s speech at “Hong Kong Night” business networking reception and seminar in Vancouver, Canada (English only) (with photo)
Distinguished guests, industry leaders and innovators, friends in Canada and from around the world,

Good evening, everyone. Thanks for having me today for this very special occasion, called “Hong Kong Night”. I must say I always wonder why we have “Hong Kong night” in broad daylight. I suppose it could be a distinctive feature of this city which everybody loves. Just now, our colleague from Cathay Pacific mentioned to me that there will be a draw right after for tickets so I’m sure that explains why you are all here.

Let me give you some flavour in terms of how Hong Kong has been faring, and also at the same time some talking points that you may want to share after this session. I want to give you an overview in terms of how Hong Kong has done so far in financial services under my portfolio, and also in particular the reason why I’m here in Vancouver because this is my last stop, after Toronto and also Ottawa. Through this visit, I had the opportunity to see many people at the government, regulators and also financial institutions. What I am impressed most is that it’s really a place where people are looking for a change. You already have a new government. At the same time, you are looking for ways to diversify, in terms of your economy, and also in terms of financial activities. So I think Hong Kong comes at the right time, where it’s a very viable option, either you are a corporate, an individual, or even an investor, to consider that in the context of diversification.

Before I further proceed, maybe first of all, let me give you an overview of how Hong Kong’s been faring so far. I’ve been asked a lot in terms of the impact of tariffs on Hong Kong. I understand that there will be a fireside chat by Rocky (the Director and Head of Policy Research of the Financial Services Development Council, Dr Rocky Tung) later on, and I’ll leave that to the experts. But that said, Hong Kong being a service economy, I must say we don’t have much to export. At the same time, we are a free economy as stipulated in our Basic Law. So far so good in terms of our resilience, I would say, in the broader context of geopolitical change.

More specifically, in our capital market, recently we do see an upsurge in our stock market. Right now, our average daily turnover is exceeding US$32 billion, and also we’ve welcomed a number of key mega IPOs (initial public offerings), like the recent one is CATL (Contemporary Amperex Technology Co Limited). It’s a major or global battery manufacturer for EVs (electric vehicles), and they just got listed at the same time, offering a shares equivalent to the size of around HK$41 billion. And funny enough, when you look at the composition of the investors, we have those from the US. At the same time, we also have investors from the Middle East, where the Kuwait Sovereign Wealth Fund, what we call the KIA, Kuwait Investment Authority, actually put in US$500 million in that offer. So you can see that despite all the talk about the deglobalisation or decoupling, finance, in particular, capital formation takes place, and also monies after returns.

Of course, that is not alone in terms of what we are welcoming. We also welcome Canadian companies to list in Hong Kong as well. Right now, we have around six Canadian companies already listed in Hong Kong, like Manulife and also some of the mining and oil and gas companies. I do very much welcome many more listings, especially from this part of the world, where it could be tech, could be mining, or for other types of new economic activities.

The second part I want to highlight, apart from how Hong Kong has been faring, is in terms of my observations so far this year, so far in my visit. Apart from the general ones that I just highlighted, I do see a number of areas that Hong Kong and Canada can work together. First of all, wealth management, because I got the chance to see and meet a number of insurance companies and banks from this part of the world. In fact, many of them are heavily invested and also have a strong presence in Hong Kong, like Manulife, which takes up 27 per cent of our Mandatory Provident Fund, a pension service system in Hong Kong. And also Sun Life, which is in collaboration with Dah Sing Bank in Hong Kong through the bank insurance businesses. Also we have CIBC (Canadian Imperial Bank of Commerce) and others that already have a strong presence in corporate banking in Hong Kong.

Many people see wealth management as an emerging trend, an area where we should work together. Because in the way that we see the world, like all of you, people are looking for ways to diversify. Many of the traditional markets where people want to park their wealth in the Anglo-Saxon world, people are still changing their minds in terms of whether they should diversify through geography or through products. In either way, Hong Kong is an option, because we have been the largest offshore cross-boundary wealth management centre so far in Asia, and we are looking to be the biggest one in the world. It is an area that we are very keen to develop further. Right now, we have 2 700 single family offices. We are going to have facilitated at least 200 more family offices by the end of this year. Also, we are going to have more tax concessions for family offices to cover private credit, carbon credit, and virtual assets. I will leave these details to our Invest Hong Kong colleagues. They will have all the details. All I want to say is wealth management, in particular in terms of family offices and high-net-worth individuals, is an area that I think Hong Kong can walk closely together with this country.

The second area that I think is important to note in terms of collaboration is about what the host mentioned just now – the Web Summit Vancouver. The reason that I’m here is because we just passed a law to regulate stablecoin issues in Hong Kong. It is a big topic, not just in Hong Kong, but regionally, because many people see virtual assets as speculative. But that said, stablecoins being underpinned by fiat currency is a different animal, which potentially can be used in the form of payment. At a time when the US dollar or US-related assets are being questioned, I think many of the alternatives, also at the same time, in the form of stablecoins, have that role to play.

In that regard, I have more to share in terms of our ecosystem effort to build an ecosystem in Hong Kong for our virtual assets. We have already 10 virtual asset exchanges, and also at the same time, we are going to issue licenses for stablecoin issuers. And very soon, we will also regulate these virtual asset custodians. For anyone of you who are participating, in this space, I do urge you to look at what Hong Kong has done and also at the same time how you can leverage the opportunities for your own development.

Last but not least, in terms of what I want to inform this group is having debriefed all of you about what Hong Kong has done in terms of wealth management and virtual assets and also fintech in general, I’m sure that you do see a lot of need to come to Hong Kong. So even though you may not be able to get those free tickets, I’m sure you’re all rich enough to buy your own and also give yourself a reason to come to Hong Kong soon. And anytime, anywhere, you’re most welcome. Thank you.
Issued at HKT 16:49

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CategoriesMIL-OSI

MIL OSI Asia Pacific News –

May 31, 2025
MIL-OSI: Matador Technologies Inc. Announces $1.5 Million Strategic Investment by Arrington Capital

Source: GlobeNewswire (MIL-OSI)

TORONTO, May 30, 2025 (GLOBE NEWSWIRE) — Matador Technologies Inc. (“Matador” or the “Company”) (TSXV: MATA, OTCQB: MATAF), a Bitcoin-focused company, announces the closing of a CAD$1.5 million investment from Arrington Capital, a digital asset management firm, as part of its non-brokered private placement offering of units (“Units”) at $0.62 per Unit (the “Offering”). The Offering was announced on May 22, 2025.

As part of this first tranche, the Company issued 2,419,354 Units. Each Unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one additional common share at $0.77 for a period of 12 months from issuance. The warrants include an acceleration clause: if the closing price of the Company’s common shares on the TSX Venture Exchange (“TSXV”) equals or exceeds $1.15 for five consecutive trading days following four months and one day after the closing date, the Company may accelerate the expiry to 30 days after issuing a related press release.

Arrington Capital (https://www.arringtoncapital.com/), co-founded by Michael Arrington, is an investor in blockchain and digital asset ventures. Their investment supports Matador’s development of financial technologies focused on Bitcoin and tokenized real-world assets.

“We’re thrilled to welcome Arrington Capital as a strategic investor,” said Deven Soni, CEO of Matador Technologies Inc. “Their deep conviction in the Bitcoin ecosystem and global perspective on digital assets align perfectly with Matador’s vision. This investment enhances our ability to accelerate development of Bitcoin-native financial products and scale our platform globally.”

“This is more than just a capital raise—it’s a signal that the world’s top digital asset investors see the same future we do,” said Mark Moss, Chief Visionary Officer at Matador.

Matador is currently the only public Canadian company developing gold and precious metal products on the Bitcoin network. Its treasury strategy includes holdings in both Bitcoin and gold.

The securities issued in this tranche are subject to a statutory hold period expiring on September 30, 2025. Net proceeds of the Offering are expected to be allocated approximately one-third to each of the following: (i) the purchase of Bitcoin; (ii) gold acquisition and the Company’s Grammies initiative; and (iii) general corporate purposes. The Offering remains subject to final approval by the TSX Venture Exchange.

For additional information, please contact:

Media Contact:
Sunny Ray
President
Email: sunny@matador.network

Phone: 647-496-6282

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

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

Cautionary Statement Regarding Forward-Looking Information

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

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

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

The MIL Network –

May 30, 2025
MIL-OSI: OTC Markets Group Welcomes Badger Infrastructure Solutions Ltd. to OTCQX

Source: GlobeNewswire (MIL-OSI)

NEW YORK, May 30, 2025 (GLOBE NEWSWIRE) — OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced Badger Infrastructure Solutions Ltd. (TSX: BDGI; OTCQX: BDGIF), North America’s largest provider of non-destructive excavating and related services, has qualified to trade on the OTCQX^® Best Market. Badger Infrastructure Solutions Ltd. upgraded to OTCQX from the Pink^® market.

Badger Infrastructure Solutions Ltd. begins trading today on OTCQX under the symbol “BDGIF.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

Upgrading to the OTCQX Market is an important step for companies seeking to provide transparent trading for their U.S. investors. For companies listed on a qualified international exchange, streamlined market standards enable them to utilize their home market reporting to make their information available in the U.S. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws.

“We are excited to be added to the OTCQX^® Best Market, which provides the opportunity to broaden our market access, enhance liquidity, and strengthen our U.S. investor presence. This move enhances our visibility within the U.S. investment community and provides a convenient way for investors to trade our shares in their own currency and local market. It positions us to expand our investor base as we continue to build sustainable, scalable growth while delivering exceptional service and value to our customers and stakeholders,” said Rob Blackadar, Badger Infrastructure’s President & CEO.

About Badger Infrastructure Solutions Ltd.
Badger Infrastructure Solutions Ltd. is North America’s largest provider of non-destructive excavating and related services. Badger works for contractors and facility owners in a broad range of infrastructure industries and in general commercial construction. Badger’s customers typically operate near high concentrations of underground power, communication, water, gas and sewer lines, where safety and economic risks are high and where non-destructive excavation provides a safe alternative for certain customer excavation requirements. The Company’s key technology is the Badger HydrovacTM, which uses a pressurized water stream to liquify the soil cover, which is then removed with a powerful vacuum system and deposited into a storage tank. Badger is unique in the non-destructive excavation industry because it designs and manufactures all of its hydrovac units at its plant in Red Deer, AB, which has an annual production capacity of more than 350 hydrovac units. To complement the Badger Hydrovac, the Company has a select number of specialty units, including combo trucks, sewer and flusher units, and Air Vacs. The Company is headquartered in Calgary, AB, has a U.S. administrative office and training centre in Brownsburg, IN, a suburb of Indianapolis, IN, and services customers from approximately 140 field locations across both Canada and the United Sates.

About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX^® Best Market, OTCQB^® Venture Market and Pink^® Open Market.

Our OTC Link^® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets.

OTC Link ATS, OTC Link ECN, OTC Link NQB, and MOON ATS™ are each an SEC regulated ATS, operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member SIPC.

To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.

Subscribe to the OTC Markets RSS Feed

Media Contact:
OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com

The MIL Network –

May 30, 2025
MIL-OSI Asia-Pac: SFST meets Canadian officials

Source: Hong Kong Information Services

Secretary for Financial Services & the Treasury Christopher Hui met financial officials in Ottawa on Wednesday and business representatives in Vancouver yesterday, as he continued a five-day visit to Canada.

Mr Hui met Canadian Deputy Minister of Finance Chris Forbes on Wednesday. They discussed the challenges posed by unilateralism and protectionism, and how Hong Kong and Canada might collaborate to achieve mutual benefits in areas such as the gold market and virtual assets.

Mr Hui told Mr Forbes that as global economic gravity continues to shift eastwards, Hong Kong has been exploring new growth areas and expanding international co-operation. He said this includes efforts by a working group to promote gold market development.

In a meeting with Canada’s Superintendent of Financial Institutions Peter Routledge, Mr Hui spoke of Hong Kong’s perseverance in upholding a robust regulatory regime across different financial institutions and financial products.

Mr Routledge praised Hong Kong for its advanced development in the area of digital assets, stating that it sets an example for other regions.

Mr Hui then met Senator Woo Yuen-pau at Parliament Hill and brief hum on Hong Kong’s effort in maintaining its status as an international financial centre through various measures.

He mentioned the recent affirmations of Hong Kong’s credit ratings by Fitch, S&P and Moody’s, adding that these fully demonstrate Hong Kong’s resilience in maintaining stability amid increasing global economic and financial uncertainties.

During his short stay in Ottawa, Mr Hui also paid a courtesy call to China’s Ambassador to Canada Wang Di.

Mr Wang said Hong Kong has its own distinctive advantages which can enable it to be a bridgehead in driving closer ties between China and Canada in addition to fostering direct co-operation between Hong Kong and Canada.

In Vancouver yesterday, Mr Hui met Fraser Institute Board Chair Mark Scott and some other prominent business figures to update them on Hong Kong’s financial development.

Mr Hui welcomed the think-tank’s ranking of Hong Kong as the world’s freest economies in its Economic Freedom of the World 2024 Annual Report.

Later, he spoke at a business lunch hosted by the Hong Kong-Canada Business Association (Vancouver Chapter), and participated in a fireside chat.

Mr Hui then met representatives of the Canadian Imperial Bank of Commerce and briefed them on development in areas such as wealth management and digital assets in Hong Kong.

The day concluded with a business networking reception and seminar organised by Invest Hong Kong (Canada).

Addressing the audience, Mr Hui highlighted the Government’s dedication to integrate Web3 innovations into the real economy by introducing a licensing regime for fiat-referenced stablecoin issuers, and to foster the development of Web3 and digital assets.

He also mentioned Hong Kong’s determination to expand the financial value chain to sustain the world-class status of its financial markets. Two forward-looking moves are to build an international gold trading market and create a commodity trading ecosystem in Hong Kong, he said.

Mr Hui added that, with Canada enjoying a prominent position in the global gold market and the Toronto Stock Exchange being the world’s pre-eminent stock exchange for mining companies, co-operation between Hong Kong and Canada can establish an East-West financial corridor for the world.

MIL OSI Asia Pacific News –

May 30, 2025
MIL-OSI Africa: African Mining Week (AMW) to Spotlight Opportunities in South Africa’s Platinum Group Metals (PGM) Market

Source: Africa Press Organisation – English (2) – Report:

CAPE TOWN, South Africa, May 30, 2025/APO Group/ —

The upcoming African Mining Week (AMW) – Africa’s premier gathering for mining stakeholders, taking place from October 1-3, 2025, in Cape Town – will feature a dedicated panel exploring investment and growth opportunities within the country’s platinum group metals (PGM) market. Titled, South Africa’s Strategic Influence in the Global PGM Market, the panel session will spotlight national initiatives designed to strengthen the country’s PGM value chain – an industry that already accounts for approximately 80% of global supplies.

As South Africa strengthens its position as the world’s leading producer of PGM, the session will foster greater collaboration among industry stakeholders. Speakers are expected to address challenges and opportunities across the value chain, identifying strategies for accelerating production and consolidating the country’s position as a major global supplier.

African Mining Week serves as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energies 2025 conference from October 1-3 in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@energycapitalpower.com.

South Africa’s PGM market offers significant opportunities for mining companies and investors. In May 2025, mining firm Ivanhoe Mines reached a significant milestone by driving underground development into the high-grade platinum, palladium, rhodium, nickel, gold and copper orebody at the Platreef Mine in Mokopane. First production at the project is targeted for Q4, 2025, followed by Phase 2 within two years after first production. The project, containing over 95 million tons of PGMs, aims to produce 450,000 ounces annually in Phase 2.

Meanwhile, Canada-based Platinum Group Metals Ltd. recently announced plans to raise $1.8 billion through a private placement to advance the Waterburg Project in South Africa. The project holds proven and probable reserves of 246.2 million tons of platinum, palladium, rhodium and hold at an average grade of 2.96 grams per ton. With aims to diversify its product portfolio and enhance revenue generation, mining Group Pelagic Resources launched the development of a new PGM concentrator at its Kookfontein Mine in February this year. Designed by exploration company Nuco Chrome in early 2024, the concentrator is currently in an advanced development stage and is expected to be commissioned in the first half of 2025.

Other major PGM developments in South Africa include the 40-million-ounce Bengwenyama Project by Southern Palladium, which completed a pre-feasibility study in October last year, confirming a 14% increase in PGM reserves. Meanwhile, Vanadium Resources Ltd. recently signed an agreement with China Energy Engineering International Group for the provision of engineering, procurement and construction services for the Steelpoortdrift Vanadium Project. The open pit mine and treatment facility will be developed for the exploitation of 680 million tons of vanadium resources in the Bushveld Complex. Additionally, Northam Platinum Holdings is reviving the Eland Mine Complex in the North West Province, with aims to increase PGM production from 100,000 ounces annually in 2025 to 180,000 ounces by 2028.

Amid this growth, AMW will serve as a key platform to unpack these developments and explore new strategies being implemented to attract investment and boost production. The event will bring together South African regulators, mining executives and global partners to shape the future of the country’s PGM sector.

MIL OSI Africa –

May 30, 2025
MIL-OSI United Kingdom: Joint Statement of the Multilateral Sanctions Monitoring Team (MSMT) on the first report covering DPRK-Russia military cooperation
Source: United Kingdom – Executive Government & Departments

Press release

Joint Statement of the Multilateral Sanctions Monitoring Team (MSMT) on the first report covering DPRK-Russia military cooperation

Several countries gave a joint statement following the publication of the first report of the Multilateral Sanctions Monitoring Team (MSMT).
Australia, Canada, France, Germany, Italy, Japan, Netherlands, New Zealand,
Republic of Korea, the UK and the USA gave a statement following the publication of the first report of the Multilateral Sanctions Monitoring Team (MSMT):

We, the participating states of the Multilateral Sanctions Monitoring Team (MSMT), released today its first report. This multilateral mechanism was established in October 2024 to monitor and report on the implementation of United Nations sanctions measures on the Democratic People’s Republic of Korea (DPRK). The report is available on the official MSMT website.

The report, which focuses primarily on unlawful DPRK-Russia military cooperation including arms transfers and Russia’s training of DPRK troops, consolidates information provided by MSMT participating states on violations and evasions of sanction measures stipulated in relevant United Nations Security Council resolutions (UNSCRs). The report also contains information provided by open source intelligence organizations.

This report is a product of our efforts to address the monitoring gap arising from the disbandment of the UN Security Council’s 1718 Committee Panel of Experts in April 2024 which was caused by Russia’s veto in March 2024. The report will assist with the full implementation of UN sanctions by the international community. The opportunity for dialogue to reestablish the Panel of Experts as a central element of the UN sanctions framework remains open, provided the Panel is restored to the full form it had prior to disbandment.

With the release of the first MSMT report, we underscore once again our shared determination to fully implement relevant UNSCRs. We urge the DPRK to engage in meaningful diplomacy, and call on all states to join global efforts to maintain international peace and security in the face of ongoing threats from the DPRK and those that facilitate its illicit activities in contravention of relevant UNSCRs.

We will continue our efforts to monitor the implementation of UNSCRs on the DPRK and raise awareness of ongoing attempts to violate and evade UN sanctions.

Media enquiries

Email newsdesk@fcdo.gov.uk

Telephone 020 7008 3100

Email the FCDO Newsdesk (monitored 24 hours a day) in the first instance, and we will respond as soon as possible.

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Published 30 May 2025
MIL OSI United Kingdom –
May 30, 2025

MIL-OSI: High Arctic Overseas Announces 2025 First Quarter Results

Source: GlobeNewswire (MIL-OSI)

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW

CALGARY, Alberta, May 30, 2025 (GLOBE NEWSWIRE) — High Arctic ‎Overseas Holdings Corp. (TSXV: HOH) (“High Arctic Overseas” or the “Corporation”) has released its first quarter 2025 financial and operating results. The unaudited condensed interim consolidated financial statements (the “Financial Statements”) and management’s discussion & analysis (“MD&A”) for the quarter ended March 31, 2025, will be available on SEDAR+ at www.sedarplus.ca. All amounts are denominated in United States dollars (“USD”), unless otherwise indicated.

The common shares of the Corporation began trading on the TSXV on August 16, 2024 under the trading symbol HOH.

Mike Maguire, Chief Executive Officer commented on the Corporation’s first quarter 2025 financial and operating results:

“Having established High Arctic Overseas Holdings Corp. with dedicated Management and a resilient core business, this Corporation is well placed to participate meaningfully in anticipated future major project developments.

Our experience combined with ideal drilling equipment for the challenging PNG environment positions us well.

I remain excited about our prospects to play a strategic role servicing the major projects anticipated in PNG over the second half of the decade.”

2025 FIRST QUARTER HIGHLIGHTS

Drilling rig 103 remains suspended and drilling rigs 115 and 116 remain cold-stacked;
Manpower and rental services maintained similar activity levels to Q4 2024;
Revenue and operating margins significantly reduced compared to Q1 2024, largely as a result of rig 103 operating in Q1 2024 versus being suspended in Q1 2025; and
Disciplined cashflow management resulted in exiting Q1 2025 with working capital of over $20 million.

Business strategy

Our business strategy focused on Papua New Guinea is underpinned by the following cornerstones:

Leveraging our core PNG planning and logistics capability to diversify ‎our service offerings;
Deploying idle assets into profitable operations;
Strengthening local content & participation in the PNG finance and investment communities;
An established and efficient corporate structure; and
Seeking opportunities to expand and root the business in the Australasian region.

2025 Strategic Objectives

Relentless focus on safety excellence and quality service delivery;
Reduce general and administrative expenditures;
Grow the manpower business in Papua New Guinea;
Maximize potential participation in future major Papua New Guinea projects; and
Pursue expansionary transactions that increase shareholder value.

Since the Corporation and HAES-Cyprus were both wholly-owned by HWO, the transfer of all of the outstanding ordinary shares of HAES-Cyprus to the Corporation was deemed a common control transaction. The Corporation’s Financial Statements are presented under the continuity of interests basis. Financial and operational results contained within this Press Release present the historic financial position, results of operations and cash flows of HAES-Cyprus for all prior periods up to August 12, 2024, under HWO’s control. The financial position, results of operations and cash flows from April 1, 2024 (the date of incorporation of the Corporation) to August 12, 2024, include both HAES-Cyprus and the Corporation on a combined basis and from August 12, 2024, forward include the results of the Corporation on a consolidated basis upon completion of the Arrangement.

For reporting purposes in the Financial Statements, the MD&A and this Press Release, it is assumed that the Corporation held the PNG business prior to August 12, 2024, and as such, information provided includes the financial and operating results for the three months ended March 31, 2025, including all comparative periods.

In the above results discussion, the three months ended March 31, 2025 may be referred to as the “quarter” or “Q1 2025” and the comparative three months ended March 31, 2024 may be referred to as “Q1 2024”. References to other quarters may be presented as “QX 20XX” with X/XX being the quarter/year to which the commentary relates.

FIRST QUARTER 2025 SELECT FINANCIAL AND OPERATIONAL RESULTS OVERVIEW

	Three months ended March 31,
(thousands of USD except per share amounts)		2025		2024
Operating results:
Revenue		2,510		11,134
Net income (loss)		(1,225)		2,501
Per share (basic and diluted) ⁽¹⁾⁽²⁾	($0.10)		$0.20
Operating margin ⁽³⁾		714		4,315
Operating margin as a % of revenue ⁽³⁾		28.4%		38.8%
EBITDA ⁽³⁾		(286)		3,588
Per share (basic and diluted) ⁽¹⁾⁽²⁾	($0.02)		$0.29
Adjusted EBITDA ⁽³⁾		(202)		3,530
Adjusted EBITDA as a % of revenue ⁽³⁾		(8.0%)		31.7%
Per share (basic and diluted) ⁽¹⁾⁽²⁾	($0.02)		$0.28
Operating income (loss) ⁽³⁾		(998)		2,720
Per share (basic and diluted) ⁽¹⁾⁽²⁾	($0.08)		$0.22
Cash flow:
Cash flow from operating activities		(825)		5,348
Per share (basic and diluted) ⁽¹⁾⁽²⁾	($0.07)		$0.43
Funds flow from operations ⁽³⁾		(256)		3,314
Per share (basic and diluted) ⁽¹⁾⁽²⁾	($0.02)		$0.27
Capital expenditures		74		550

(thousands of USD except per share amounts and common shares outstanding)	March 31, 2025		December 31, 2024
Financial position:
Working capital ⁽³⁾		20,212		20,602
Cash and cash equivalents		13,902		14,930
Total assets		34,133		35,287
Shareholder’s equity		29,766		30,953
Per share ⁽⁴⁾	$2.39		$2.49
Common shares outstanding		12,448,166		12,448,166
_{⁽¹⁾For periods when the Corporation incurred a net loss the shares outstanding under the Corporation’s equity incentive plans for the periods presented are excluded from the calculation of diluted weighted average number of common shares as the outstanding options were anti-dilutive.} _{⁽²⁾For the purposes of computing per share amounts, the number of common shares outstanding for the periods prior to the Arrangement is deemed to be the number of shares issued by the Corporation to the shareholders of HWO upon completion of the Arrangement. See “2024 Corporate Reorganization” section of this Press Release and the Corporation’s Financial Statements for additional details.} _{⁽³⁾Readers are cautioned that Operating margin, Operating margin as a % of revenue, EBITDA (Earnings before interest, tax, depreciation, and amortization), Adjusted EBITDA, Adjusted EBITDA as a % of revenue, Operating income (loss), Funds flow from operations and Working capital do not have a standardized meanings prescribed by IFRS. See “Non IFRS Measures” in this Press Release for additional details on the calculations of these measures.} _{⁽⁴⁾Shareholders’ equity per share calculated based on the number of common shares outstanding as at the relevant date.}

Operating Results

	Three months ended March 31,
(thousands of USD, unless otherwise noted)	2025	2024
Revenue	2,510	11,134
Operating expenses	(1,796)	(6,819)
Operating margin ⁽¹⁾	714	4,315
Operating margin percentage ⁽¹⁾	28.4%	38.8%
⁽¹⁾_{See “Non-IFRS Measures”}

Customer-owned rig 103 has been suspended since the second half of 2024 compared to being operational in the first 5.5 months in 2024. As such, the majority of Q1 2025 revenue is from the provision of equipment rental and skilled personnel to key customers within PNG’s oil and gas industry. While minor, the Corporation is seeing increased equipment rental revenues from other industries within PNG. As noted above, revenues for Q1 2024, were inclusive of rig 103 drilling activities plus revenue from the provision of equipment rental and skilled personnel into PNG’s oil and gas industry.

The Corporation owns two heli-portable drilling rigs (Rigs 115 and 116) which remain preserved and maintained ready for deployment.

Liquidity and Capital Resources

	Three months ended March 31,
(thousands of USD)	2025	2024
Cash provided by (used in) operations:
Operating activities	(825)	5,348
Investing activities	(74)	(550)
Financing activities	(117)	(124)
Effect of foreign exchange rate changes	(12)	–
Increase (decrease) in cash	(1,028)	4,674

(thousands of USD, unless otherwise noted)	As at March 31, 2025	As at Dec 31, 2024
Current assets	24,230	24,706
Working capital⁽¹⁾	20,212	20,602
Working capital ratio⁽¹⁾	6.0:1	6.0:1
Cash and cash equivalents	13,902	14,930
⁽¹⁾ _{See “Non-IFRS Measures”}

Liquidity and Capital Resources
Cashflows from Operating Activities

For the three months ended March 31, 2025, cash used in operating activities was $825 (Q1 2024 – cash generated was $5,348). The change in operating cash flow was driven by reduced revenue generating activities and changes in non-cash working capital. Changes in non-cash working capital are listed in Note 13 of the Financial Statements and represent temporary differences as inventory is purchased in support of anticipated sales, deferred revenue is earned and related party balances post the Arrangement.

Cashflows from Investing Activities

For the three months ended March 31, 2025, cash used in investing activities was $74 (Q1 2024 – $550). Cash outflows associated with investing activities were directed towards capital expenditures for additional rental assets. The Corporation continues to seek opportunities to invest in additional capital assets, in particular where it can do so with support of customer take-or-pay agreements.

Cash flows from Financing Activities

For the three months ended March 31, 2025, cash used in financing activities was $117 (Q1 2024 – $124). Cash outflows associated with finance activities were directed towards lease obligation payments.

Outlook

Consistent with the outlook provided by the Corporation in Q4 2024 the outlook for the Corporation’s core business in PNG for the remainder of 2025 remains subdued. Current quarter operating results were largely driven by manpower and rental services delivered to its key customers in PNG’s oil and gas industry. With no near-term drilling activity currently contracted, the Corporation expects equipment rental and manpower to continue as the primary revenue generating activity for 2025. The second half of 2025 is expected to see a decline in these activities as certain projects supported by the Corporation are expected to conclude, and customers have deferred non-essential work as they realize low and volatile near-term commodity prices.

The Corporation is buoyed by an increase in recent enquiries for services and requests for pricing which may lead to a future upswing in revenue generating activity. The Corporation remains engaged with its principal customer on planning for future drilling activity and continues to focus on enhancing and optimizing its existing rental fleet deployment and manpower solutions offerings. The Corporation also continues to pursue business expansion opportunities in PNG, participating in requests for tender and actively engaging with potential customers for its services in PNG and the wider region while also taking actions to protect its capability to realize the future potential of the business.

Our rationale for a business strategy focussed on PNG is unchanged. Papua New Guinea possesses substantial deposits of natural resources including significant reserves of oil and natural gas and has emerged as a reliable low-cost energy exporter to Asian markets, particularly for liquefied natural gas (“LNG”). A significant investment in the country’s oil and gas industry was evidenced by the successful construction of the PNG-LNG project in 2014, with the primary partners in the venture being customers of the Corporation. In the period following, the Corporation’s predecessor company committed to the purchase and upgrade of drilling rigs 115 and 116 and expansion of the Corporation’s fleet of rentable equipment including camps, material handling equipment and worksite matting. These investments contributed to a substantive lift in revenues and earnings as PNG enjoyed its highest period of exploration and development activity.

Since the onset of COVID-19 in early 2020, there has been a substantive reduction in drilling services in PNG. This follows some consolidation among the active exploration and production companies and evolving political and economic influences. In the longer term, High Arctic believes PNG is on the precipice of a new round of large-scale projects in the natural resources sector. ‎The next significant ‎LNG project currently being planned is Papua-LNG, a project lead by the French oil and gas super-major TotalEnergies, with a final investment decision anticipated in late 2025. There is an expectation for increased drilling activity through the latter half of this decade, ‎not only to develop wells for the supply of gas to the Papua-LNG export facility, but also to explore for and ‎appraise other discoveries. The signing of a fiscal stability agreement between the P’nyang gas field joint venture and the government of PNG is another positive signal for that expansionary project to follow Papua-LNG.

The Corporation is strategically positioned to support these developments, given its dominant position for drilling and associated services in PNG, existing work relationships with the operating companies, and proximity to the proposed sites of operation. The Corporation’s drilling rigs 115 and 116 are portable by helicopter and have been maintained and preserved for future use.

There are a number of other petroleum projects and substantive nation-building projects including infrastructure, ‎electrification, telecommunications and defense projects planned for the development of PNG. ‎These ‎projects will require access to transport and material handling machinery, quality worksite and temporary ‎road mats and a substantive amount of labour including skilled equipment operators, qualified tradespeople and engineers, ‎geoscientists and other professionals. ‎High Arctic’s business continues to position itself to be a meaningful supplier of services, equipment and manpower for this market.

NON-IFRS MEASURES

This Press Release contains references to certain financial measures that do not have a standardized meaning prescribed by International Financial Reporting Standards (“IFRS”) and may not be comparable to the same or similar measures used by other companies. High Arctic Overseas uses these financial measures to assess performance and believes these measures provide useful supplemental information to shareholders and investors. These financial measures are computed on a consistent basis for each reporting period and include Oilfield services operating margin, EBITDA (Earnings before interest, tax, depreciation and amortization), Adjusted EBITDA, Operating loss, Funds flow from operating activities, Working capital and Net cash. These do not have standardized meanings.

These financial measures should not be considered as an alternative to, or more meaningful than, net income (loss), cash from operating activities, current assets or current liabilities, cash and/or other measures of financial performance as determined in accordance with IFRS.

For additional information regarding non-IFRS measures, including their use to management and investors and reconciliations to measures recognized by IFRS, please refer to the Corporation’s Q1 2025 MD&A, which is available online at www.sedarplus.ca.

About High Arctic ‎Overseas Holdings Corp.

High Arctic Overseas is a market leader in Papua New Guinea providing drilling ‎and specialized well completion services, manpower solutions and supplies rental equipment including rig matting, camps, material ‎handling and drilling support equipment.

For further information, please contact:

Mike Maguire
Chief Executive Officer
1.587.320.1301

High Arctic Overseas Holdings Corp.
Suite 2350, 330–5th Avenue SW
Calgary, Alberta, Canada T2P 0L4
www.higharctic.com
Email: info@higharctic.com

Forward-Looking Statements
This Press Release contains forward-looking statements. When used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “seek”, “propose”, “estimate”, “expect”, and similar expressions are intended to identify forward-looking statements. Such statements reflect the Corporation’s current views with respect to future events and are subject to certain risks, uncertainties, and assumptions. Many factors could cause the Corporation’s actual results, performance, or achievements to vary from those described in this Press Release.

Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this Press Release as intended, planned, anticipated, believed, estimated or expected. Specific forward-looking statements in this Press Release include, among others, statements pertaining to the following: general economic and business conditions; the role of the energy services industry in future phases of the energy industry; the outlook for energy services both globally and within PNG; the impact of conflict in the Middle East and Ukraine; the timing and impact on the Corporation’s business related to potential new large-scale natural resources projects and increased drilling activity in PNG; the impact, if any, related to existing or future changes to government regulations by the government of PNG; the impact, if any, on the Corporation’s future financial and operational results related to non-resource development opportunities in PNG; market fluctuations in commodity prices, and foreign currency exchange rates; restrictions on repatriation of funds held in PNG; expectations regarding the Corporation’s ability to manage its liquidity risk; raise capital and manage its debt finance agreements; projections of market prices and costs; factors upon which the Corporation will decide whether or not to undertake a specific course of operational action or expansion; the Corporation’s ongoing relationship with its major customers; customers’ drilling intentions; the Corporation’s ability to position itself to be a significant supplier of services, equipment and manpower for other resource and non-resources based projects in PNG; the Corporation’s expectations related to financial and operational results in 2025, including the expectation that the equipment rental and manpower services portion of the Corporation’s business will be the primary revenue generating activity for fiscal 2025; the timing and ability of the Corporation to put its own administrative infrastructure in place; the Corporation’s ability to invest in additional capital assets, including the impact on the Corporation’s future financial and operational results; the impact, if any, of geo-political events, changes in government, changes to tariff’s or related trade policies and the potential impact on the Corporation’s ability to execute on its 2025 business plan and strategic objectives; the ability of the Corporation to expand its geographic customer base outside of PNG, and the deploying idle heli-portable drilling rigs 115 and 116 and securing future work with other exploration companies in PNG.

With respect to forward-looking statements contained in this Press Release, the Corporation has made assumptions regarding, among other things, its ability to: maintain its ongoing relationship with major customers; successfully market its services to current and new customers; devise methods for, and achieve its primary objectives; source and obtain equipment from suppliers; successfully manage, operate, and thrive in an environment which is facing much uncertainty; remain competitive in all its operations; attract and retain skilled employees; and obtain equity and debt financing on satisfactory terms and manage liquidity related risks.

The Corporation’s actual results could differ materially from those anticipated in these forward-looking statements as a result of the risk factors set forth in this Press Release and in the Corporation’s annual 2024 MD&A, which is available on SEDAR+.

The forward-looking statements contained in this Press Release are expressly qualified in their entirety by this cautionary statement. These statements are given only as of the date of this Press Release. The Corporation does not assume any obligation to update these forward-looking statements to reflect new information, subsequent events or otherwise, except as required by law.

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

The MIL Network –

May 30, 2025

MIL-OSI New Zealand: McClay to champion NZ’s trade interests at OECD and in Brussels

Source: New Zealand Government

Trade and Investment Minister Todd McClay will travel to Europe this weekend to advance New Zealand’s trade and investment interests

Minister McClay will visit Switzerland, Paris and Brussels for high level ministerial and business meetings.

In Switzerland he will attend the first in person meeting of a new pro-trade group with ministers from UAE, Singapore and Switzerland where he will focus on removing trade barriers and the promotion of paperless trade.

In Paris he will attend the annual OECD Trade Ministers, a CPTPP ministers discussion, ACCTs Ministers meeting, and a WTO Mini Ministerial meeting. He will also hold discussions with ministers from Canada, China, India, Indonesia, Saudi Arabia, USA.

He will also undertake a bilateral French programme and meet the French Minister responsible for Trade.

In Brussels Mr McClay will hold talks with EU Commissioner for Trade, the Commissioner for Agriculture and Food, and EU Vice President responsible for sustainability. He will also speak at an event to mark the first year of the NZ EU FTA.

“One in four Kiwi jobs depend on Trade, and strong trade relationships mean more opportunities for New Zealander.

The Government’s is committed to the ambitious goal of doubling exports by value in the next ten years to deliver higher paying jobs for all New Zealanders,” Mr McClay says.

MIL OSI New Zealand News –

May 30, 2025
MIL-OSI Asia-Pac: SFST meets government financial officials and financial leaders in Ottawa and Vancouver (with photos)

Source: Hong Kong Government special administrative region

The Secretary for Financial Services and the Treasury, Mr Christopher Hui, met with Canadian financial officials in Ottawa, Canada on May 28 (Ottawa time) and continued his visit to Vancouver on May 29 (Vancouver time).

Mr Hui went to Ottawa on May 28 (Ottawa time) to meet with the Canadian Deputy Minister of Finance, Mr Chris Forbes. They discussed the challenges posed by unilateralism and protectionism, and how Hong Kong and Canada could collaborate to achieve mutual benefits in areas such as the gold market and virtual assets. Mr Hui told Mr Forbes that as the global economic gravity continues to shift eastwards, Hong Kong has been exploring new growth areas and expanding international co-operation, including the development of international gold trading currently pursued by the working group on promoting gold market development.
Mr Hui then met with Senator Mr Woo Yuen-pau at the Parliament Hill. He briefed Mr Woo on Hong Kong’s effort in maintaining its status as an international financial centre through various measures. He mentioned the recent affirmations of Hong Kong’s credit ratings by Fitch, S&P and Moody’s, all with “stable” outlooks. These affirmations fully demonstrate Hong Kong’s resilience in maintaining stability amid increasing global economic and financial uncertainties. In addition, both S&P and Moody’s provided positive evaluations of Hong Kong’s credit profile, including its substantial fiscal buffers and foreign exchange reserves, a strong external balance sheet, and high per-capita income levels. Mr Hui said, with its effective policy framework and solid financial market built over the years, Hong Kong is definitely a trusted partner for Canada at a time when the global political and economic landscape is fraught with uncertainties.
On May 29 (Vancouver time), Mr Hui started his visit to Vancouver where he met with Mr Mark Scott who is the Board Chair of Fraser Institute, the most influential think-tank in Canada, and some other prominent business figures to update them of Hong Kong’s latest financial development. The Director, Head (Policy Research) of the Financial Services Development Council, Dr Rocky Tung, also joined the meeting. Mr Hui welcomed that Hong Kong was ranked as the world’s freest economies among 165 economies in Fraser Institute’s Economic Freedom of the World 2024 Annual Report. Among the five areas of assessment, Hong Kong topped in the areas of “Freedom to trade internationally” and “Regulation”, and came third in “Sound money”. Looking ahead, Hong Kong will continue to undertake a series of initiatives covering areas in which it has competitive edges, including stocks, bonds, and asset and wealth management, as well as emerging opportunities such as green and sustainable finance and the development of Web3, with a view to keeping the momentum to boost the high-quality development of Hong Kong’s financial market.

MIL OSI Asia Pacific News –

May 30, 2025
MIL-OSI: Quantum eMotion Announces Brokered LIFE Financing of C$6,000,000

Source: GlobeNewswire (MIL-OSI)

NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

MONTREAL, May 29, 2025 (GLOBE NEWSWIRE) — Quantum eMotion Corp. (“QeM” or the “Corporation”) (TSX.V: QNC; OTCQB: QNCCF) is pleased to announce a best efforts brokered private placement for total gross proceeds of at least C$6,000,000 (the “Offering”), consisting of at least 4,000,000 units of the Corporation (each a “Unit”) at a price of C$1.50 per Unit (the “Offering Price”), pursuant to the listed issuer financing exemption (the “LIFE Exemption”) under Part 5A of National Instrument 45-106 – Prospectus Exemptions (“NI 45-106”).

Each Unit will consist of (i) one common share in the capital of the Corporation (a “Share”), and (ii) one common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to acquire one additional common share (a “Warrant Share”) at a price of C$1.82 for a period of 3 years following the Closing Date (as defined herein).

The Corporation intends to use the net proceeds raised from the Offering to accelerate the pace of its research and development (“R&D”) efforts, expand the R&D team, hire staff for the commercialization initiatives underway and expanding the presence of QeM in the USA and other markets and for general working capital needs.

A.G.P. Canada Investments ULC (“Agent“) is acting as the sole bookrunner and agent for the Offering and A.G.P./Alliance Global Partners is acting as sole U.S. placement agent for the Offering.

Subject to compliance with applicable regulatory requirements and in accordance with NI 45-106, the securities issued pursuant to the LIFE Exemption are expected to be immediately freely tradeable and will not be subject to a hold period under applicable Canadian securities laws. The Units may also be offered to persons in the United States pursuant to exemptions from the registration requirements under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) and all applicable U.S. state securities laws, as well as outside Canada and the United States on a basis which does not require the qualification or registration of any of the Corporation’s common shares or require the Corporation to be subject to any ongoing disclosure requirements under any domestic securities laws.

There is an offering document related to the Offering that can be accessed under the Corporation’s profile at www.sedarplus.ca and on the Corporation website at https://www.quantumemotion.com/. Prospective investors should read this offering document before making an investment decision.

It is expected that closing of the Offering will take place on or about June 2, 2025 (the “Closing Date”). Closing of the Offering is subject to certain conditions including, but not limited to, receipt of all necessary approvals.

As consideration for their services, the Agent will receive an aggregate cash fee equal to 6.0% of the gross proceeds of the Offering. In addition, the Corporation will issue to the Agent non-transferable warrants (the “Agent Warrants”) representing 4.0% of the aggregate number of Units issued pursuant to the Offering. Each Agent Warrant will entitle the holder to purchase one common share of the Corporation at price of C$1.66 for a 30-month period from the date of issuance.

This press release is not an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act” ), and such securities may not be offered or sold to, or for the account or benefit of, persons in the United States or U.S. persons absent registration or an applicable exemption from U.S. registration requirements. “United States” and “U.S. persons” have the meanings ascribed to them in Regulation S under the U.S. Securities Act.

About Quantum eMotion

The Company’s mission is to address the growing demand for affordable hardware and software security for connected devices. Thanks to its patented Quantum Random Number Generator, QeM has become a pioneering force in classical and quantum cybersecurity solutions. This security solution exploits quantum mechanics’ built-in unpredictability and promises to provide enhanced protection for high-value assets and critical systems. For further information, please visit our website at https://www.quantumemotion.com/ or contact us at: info@quantumemotion.com

The Company intends to target highly valued Financial Services, Healthcare, Blockchain Applications, Cloud-Based IT Security Infrastructure, Classified Government Krown Technologies and Communication Systems, Secure Device Keying (IOT, Automotive, Consumer Electronics) and Quantum Cryptography.

For further information, please visit our website at https://www.quantumemotion.com/ or contact:

Francis Bellido, Chief Executive Officer

Tel: 514.956.2525

Email: info@quantumemotion.com

Website: www.quantumemotion.com

Cautionary Note regarding Forward-Looking Statements

This news release contains “forward-looking information” within the meaning of applicable securities laws, which is based upon the Corporation’s current internal expectations, estimates, projections, assumptions and beliefs. Such forward-looking statements and forward-looking information include, but are not limited to, statements concerning the Corporation’s expectations with respect to the use of proceeds and the use of the available funds following completion of the Offering, the completion of the Offering, if it is to be completed at all; the expected Closing Date; and the completion of the Corporation’s business objectives, and the timing, costs, and benefits thereof. Forward-looking statements or forward-looking information relate to future events and future performance and include statements regarding the expectations and beliefs of management based on information currently available to the Corporation. Such forward-looking statements and forward-looking information often, but not always, can be identified by the use of words such as “plans”, “expects”, “potential”, “is expected”, “anticipated”, “is targeted”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements or forward-looking information are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements or forward-looking information, including, without limitation, risks and uncertainties relating risks inherent to the cybersecurity industry, the value of the Corporation’s intangible assets, completing proof of concept studies, protecting intangible assets rights, timing and availability of external financing on acceptable terms or at all, the possibility that future results will not be consistent with the Corporation’s expectations, increases in costs, changes in legislation and regulation, changes in economic and political conditions and other risks involved in the cybersecurity industry and inherent to new technologies, such as risk of obsolescence, slow adoption and competing technological advances; and those risks set out in the Corporation’s public documents filed on SEDAR+ at www.sedarplus.ca.

Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or forward-looking information. Although the Corporation has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that could cause results not to be as anticipated, estimated or intended. For more information on the Corporation and the risks and challenges of its business, investors should review the Corporation’s annual filings that are available at www.sedarplus.ca. The Corporation provides no assurance that forward-looking statements or forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements and information. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Corporation disclaims any intent or obligation to update any forward-looking information.

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.

The MIL Network –

May 30, 2025
MIL-Evening Report: ER Report: A Roundup of Significant Articles on EveningReport.nz for May 30, 2025

ER Report: Here is a summary of significant articles published on EveningReport.nz on May 30, 2025.

French politicians in New Caledonia to stir the political melting pot
By Patrick Decloitre, RNZ Pacific correspondent French Pacific desk French national politicians have been in New Caledonia as the territory’s future remains undecided. Leaders from both right-wing Les Républicains (LR) and Rassemblement National (RN), — vice-president François-Xavier Bellamy and Marine Le Pen respectively — have been in the French Pacific territory this week. They expressed

Elon Musk promises more risky launches after sixth Starship failure
Source: The Conversation (Au and NZ) – By Sara Webb, Lecturer, Centre for Astrophysics and Supercomputing, Swinburne University of Technology What goes up must come down, and earlier this week yet another of SpaceX’s Starships, the biggest and most powerful type of rocket ever built, came back down to Earth in spectacular fashion. In the

Tracking crime from the cradle: why some people keep breaking the law while most of us never do
Source: The Conversation (Au and NZ) – By Ayda Kuluk, PhD Candidate in Criminology and Criminal Justice, Griffith University Alena Lom/Shutterstock A major Australian study tracking more than 80,000 Queenslanders from birth to adulthood reveals stark differences between men and women in patterns of criminal behaviour. These patterns offer insights into effective crime prevention strategies.

Most of Australia’s conservation efforts ignore climate risks – here are 3 fixes
Source: The Conversation (Au and NZ) – By Yi Fei Chung, PhD Candidate in Environmental Policy, The University of Queensland Imagine replanting various native species only to have them die because the area is too hot or too dry. Or reconnecting woodland habitat only to lose large tracts to bushfire. Well, our new research suggests

Earth’s seasonal rhythms are changing, putting species and ecosystems at risk
Source: The Conversation (Au and NZ) – By Daniel Hernández Carrasco, PhD Candidate in Ecology, University of Canterbury Shutterstock/Colin Stephenson Seasonality shapes much of life on Earth. Most species, including humans, have synchronised their own rhythms with those of Earth’s seasons. Plant growth cycles, the migration of billions of animals, and even aspects of human

Google is going ‘all in’ on AI. It’s part of a troubling trend in big tech
Source: The Conversation (Au and NZ) – By Zena Assaad, Senior Lecturer, School of Engineering, Australian National University Google recently unveiled the next phase of its artificial intelligence (AI) journey: “AI mode”. This new feature will soon be released as a new option to users of Google’s search engine in the United States, with no

People with disability are dying from cancers we can actually prevent, our study shows
Source: The Conversation (Au and NZ) – By Yi Yang, Research Fellow, Social Epidemiology, Melbourne Disability Institute, Melbourne School of Population and Global Health, The University of Melbourne Chona Kasinger/Disabled and Here, CC BY-SA People with disability are missing out on screening programs that could help detect cancer early, and after diagnosis, are less likely

Researchers created a chatbot to help teach a university law class – but the AI kept messing up
Source: The Conversation (Au and NZ) – By Armin Alimardani, Senior Lecturer in Law and Emerging Technologies, University of Wollongong Mikhail Nilov/ Pexels , CC BY “AI tutors” have been hyped as a way to revolutionise education. The idea is generative artificial intelligence tools (such as ChatGPT) could adapt to any teaching style set by

NSW is again cleaning up after major floods. Are we veering towards the collapse of insurability?
Source: The Conversation (Au and NZ) – By Kate Booth, Associate Professor of Human Geography, University of Tasmania Once again, large parts of New South Wales have been devastated by floods. It’s estimated 10,000 homes and businesses may have been damaged or destroyed and the Insurance Council of Australia reports more than 6,000 insurance claims

Talk to Me was a rollercoaster, but the Philippou brothers’ Bring Her Back will trap you in a house of horrors
Source: The Conversation (Au and NZ) – By Jessica Balanzategui, Associate Professor in Media, RMIT University A24 They may have only made two feature films so far, but Danny and Michael Philippou are already being hailed as Australia’s premiere horror auteurs. Their 2023 debut Talk To Me sparked a bidding war between distributors upon its

Grattan on Friday: Trump, tariffs and the Middle East are looming challenges for Albanese
Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra Australia these days receives invitations to big-league international conferences. And so Anthony Albanese will be off soon to the G7 meeting in Alberta, Canada, on June 15-17. For the prime minister, what’s most important about this trip is not so

Radical legal step towards ending impunity for Israel over killing Gaza journalists
Pacific Media Watch Journalists have been targeted, detained and tortured by the Israeli military in Gaza — and Reporters Without Borders (RSF) has now taken a new approach towards bringing justice these crimes. The Paris-based global media freedom NGO has submitted multiple formal requests to the International Criminal Court (ICC) asking that Palestinian journalists who

New Australian data shows most of us have PFAS in our blood. How worried should we be?
Source: The Conversation (Au and NZ) – By Ian A. Wright, Associate Professor in Environmental Science, Western Sydney University New Africa/Shutterstock The Australian Bureau of Statistics (ABS) has this week released new data which tells us about the presence of per- and polyfluoroalkyl substances (PFAS) in Australians’ bodies. The data comes from concentrations measured in

Labor gains Senate seats in Victoria and Queensland, and surges to a national 55.6–44.4 two-party margin
Source: The Conversation (Au and NZ) – By Adrian Beaumont, Election Analyst (Psephologist) at The Conversation; and Honorary Associate, School of Mathematics and Statistics, The University of Melbourne Buttons have been pressed to electronically distribute preferences for the Senate in Victoria, the ACT, Queensland and Western Australia. Labor gained a seat from the Liberals in

Influencer Andrew Tate is charged with a raft of sex crimes. His followers will see him as the victim
Source: The Conversation (Au and NZ) – By Steven Roberts, Professor of Education and Social Justice, Monash University British prosecutors have this week charged social media influencer Andrew Tate with a string of serious sexual offences, including rape and human trafficking, alleged to have been committed in the United Kingdom between 2012 and 2015. This

How the North West Shelf expansion risks further damage to Murujuga’s 50,000-year-old rock art
Source: The Conversation (Au and NZ) – By Benjamin Smith, Professor of Archaeology (World Rock Art), School of Social Sciences, The University of Western Australia Yesterday, new environment minister Murray Watt approved an extension for the North West Shelf liquefied natural gas project. The gas plant at Karratha, Western Australia, will run until 2070. This

UNESCO expresses ‘utmost concern’ at the state of the Great Barrier Reef
Source: The Conversation (Au and NZ) – By Jon C. Day, Adjunct Principal Research Fellow, College of Science and Engineering, James Cook University UNESCO’s World Heritage Committee has again raised grave fears for the future of the Great Barrier Reef, highlighting the problems of water pollution, climate change and unsustainable fishing. The committee this week

Trump’s global trade plans are in disarray, after a US court ruling on ‘Liberation Day’ tariffs
Source: The Conversation (Au and NZ) – By Susan Stone, Credit Union SA Chair of Economics, University of South Australia A US court has blocked the so-called “Liberation Day” tariffs that US President Donald Trump imposed on imported goods from around 90 nations. This puts implementation of Trump’s current trade policy in disarray. The Court

30 years ago Australia confronted its Stolen Generation past – then the Howard government blew it
Source: The Conversation (Au and NZ) – By Anne Maree Payne, Senior Research Fellow, Indigenous Land & Justice Research Group, UNSW Sydney May 2025 marks the 30th anniversary of the establishment of the national inquiry into the forcible removal of Aboriginal and Torres Strait Islander children from their families. Conducted by the Human Rights and

MIL OSI Analysis – EveningReport.nz –

May 30, 2025
MIL-OSI Canada: Friday, May 30, 2025
Source: Government of Canada – Prime Minister

National Capital Region, Canada

11:00 a.m. The Prime Minister will deliver remarks at the Federation of Canadian Municipalities 2025 Annual Conference and Trade Show.

Rogers Centre

Notes for media:
- Open coverage
- Media interested in participating can contact media@pmo-cpm.gc.ca for details.
MIL OSI Canada News –
May 30, 2025
MIL-OSI USA: Cantwell Convenes Rapid-Response Press Conference on Chaos for Ports, Businesses as Courts Rebuke Trump‘s Ability to Impose Arbitrary Tariffs

US Senate News:

Source: United States Senator for Washington Maria Cantwell
05.29.25
Cantwell Convenes Rapid-Response Press Conference on Chaos for Ports, Businesses as Courts Rebuke Trump‘s Ability to Impose Arbitrary Tariffs
Port of Seattle Commissioner: “If we’re not seen as a reliable partner, it doesn’t mean that trade doesn’t continue – it just doesn’t go through our gateway”; Cantwell praises lower courts’ decisions to end Trump’s illegal tariffs
SEATTLE, WA – Today, U.S. Senator Maria Cantwell (D-WA), ranking member of the Senate Committee on Commerce, Science, and Transportation and senior member of the Senate Finance Committee, joined Port of Seattle Commissioner Fred Felleman and Barry Barr, CEO of local outdoor apparel company KAVU, for a press conference overlooking the Port of Seattle’s Terminal 46 to respond to the chaos caused in the last 24 hours as President Donald Trump scrambles to keep his draconian tariffs in place amid court challenges.
“Two courts have ruled against President Trump’s tariffs. They basically have said he’s exceeded his authority. For almost 24 hours, [business owners] just like Barry heard that good news and thought maybe we were having a reprieve against these terrible actions that are costing consumers more,” Sen. Cantwell said. “American businesses need a rules-based trade system. That means American families would have the certainty, not chaos and not higher prices. We know this: That when you start trade wars, usually that means you end up closing markets.”
“In business, we need predictability. And it’s just been chaos and uncertainty – and we’re not sure what to do or even where to find the information to lead. Especially in sourcing and manufacturing – the timelines are so long and so far out there, several years, and we just don’t know where to go,” Barr said. “This court verdict is a great sign for American consumers. Hopefully prices won’t increase if we can get back to normal tariffs.”
“These trade relationships are sticky, in that when you move to another market, once you set up these supply chains, they don’t all come back. And so this is a very dangerous period of time,” Commissioner Felleman said. “If we’re not seen as a reliable partner, it doesn’t mean that trade doesn’t continue – it just doesn’t go through our gateway or our country.”
Video of the press conference is available HERE; photos are HERE; and a transcript of Sen. Cantwell’s remarks are HERE.
Last night, a three-judge panel of the U.S. Court of International Trade ruled that President Trump illegally overstepped his authority when he imposed tariffs on most U.S. trading partners on April 2, as well as the additional tariffs on goods from China, Mexico, and Canada. The Trump administration appealed the U.S. Court of International Trade’s decision to the U.S. Court of Appeals of the Federal Circuit, which this afternoon put a hold on the ruling while it will consider arguments in the case.
Today, a second federal judge in the U.S. District Court for the District of Columbia also ruled that the President exceeded his authority and issued a preliminary injunction on the collection of the duties, while staying the court’s order for two weeks pending appellate review. The Trump administration also appealed this decision.
In April, Sen. Cantwell introduced the bipartisan Trade Review Act of 2025 to reaffirm Congress’ key role in setting and approving U.S. trade policy, and reestablish limits on the president’s ability to impose unilateral tariffs. Her bill has since picked up 12 additional cosponsors – an equal mix of Republicans and Democrats – and been endorsed by multiple major U.S. business organizations, including the National Retail Federation, which is the largest retail trade association in the world. House members also introduced a bipartisan companion bill. On April 16, Sen. Cantwell joined nine local business owners and leaders at the Port of Seattle to push back against the Trump administration’s chaotic tariffs-first trade policy.
In Washington state, two out of every five jobs are tied to trade and trade-related industries. More information about how those tariffs will affect consumers and businesses in the State of Washington can be found HERE.
For the past four months, President Trump has been sowing economic chaos across the country with unpredictable and ever-changing tariff announcements. His back-and-forth announcements and actions have whipsawed American businesses and consumers, as well as close neighbors and allies.

MIL OSI USA News –

May 30, 2025
MIL-OSI Canada: Statement from Minister Olszewski regarding wildfires in Manitoba

Source: Government of Canada News

May 29, 2025 – Ottawa (Ontario)

Today, the Honourable Eleanor Olszewski, Minister of Emergency Management and Community Resilience and Minister responsible for Prairies Economic Development Canada, issued the following statement:

“Early this morning, I approved two Requests for Federal Assistance from the Government of Manitoba to support evacuation efforts in response to the devastating wildfires threatening Pimicikamak Creen Nation and the Mathias Colomb Cree Nation.

The Government Operations Centre is working with the Canadian Armed Forces, and other federal and provincial partners, to deploy all necessary federal resources, and ensure Manitoba has the supports it needs.

I also wish to express my profound gratitude to the firefighters, first responders, emergency management officials, and local volunteers who continue to help those in need in these communities.”

Associated Links

MIL OSI Canada News –

May 30, 2025
MIL-OSI Canada: Spsa Fire Ban Revised to Prohibit the Use of ATVs and UTVs
Source: Government of Canada regional news

Released on May 29, 2025

Effective as of 5 p.m. on May 29, 2025, the Saskatchewan Public Safety Agency (SPSA) has revised the provincial fire ban to prohibit the use of All Terrain Vehicles and Utility Terrain Vehicles in the following areas of the province:
- All vacant Crown land;
- Provincial parks located within the provincial forest; and,
- The provincial forest, including the Northern Saskatchewan Administrative District.
The fire ban also prohibits any open fires, controlled burns and fireworks in the designated boundary.

“The vast majority of the active fires in the province are caused by human activity,” SPSA Vice-President of Operations Steve Roberts said. “By revising the fire ban to prohibit ATVs and UTVs, we are taking a significant step to reducing the number of fire starts.”

In Saskatchewan, human-caused wildfires typically start in accessible areas near communities and roads. Simple actions like not driving a vehicle on dry grass, drowning campfires until embers are cool and talking to young children about fire safety can make an impact on the number of fires in Saskatchewan.

The SPSA continues to encourage all other municipalities, rural municipalities and communities to examine fire risks in their area and to consider implementing consistent fire bans to prevent unwanted human-caused wildfires.

As of 4 p.m., there are 17 wildfires burning in the province. To date, Saskatchewan has had 207 wildfires, which is 40 more than the same point in time last year of 167. The wildfire 5-year average in Saskatchewan to date is 125.

Anyone who spots a wildfire can call 1-800-667-9660, dial 9-1-1 or contact their closest SPSA Forest Protection Area office.

People can find an interactive fire ban map, frequently asked questions, fire risk maps and fire prevention tips at saskpublicsafety.ca.

A list of fire bans and restrictions in provincial parks and recreation sites can be found here.

Established in 2017, the SPSA is a treasury board crown corporation responsible for wildfire management, emergency management, Sask911, SaskAlert, the Civic Addressing Registry, the Provincial Disaster Assistance Program and fire safety.

-30-

For more information, contact:

MIL OSI Canada News –
May 30, 2025
MIL-OSI Canada: Small but mighty Sunshine Coast community forest stepping up in local economy
Source: Government of Canada regional news

The Sunshine Coast Community Forest is being recognized for its excellence in forestry and its effect on the community, receiving the 2025 Robin Hood Memorial Award for Excellence in Community Forestry on Tuesday, May 27, 2025.

“When you hear about local leaders and the incredible benefits they bring to their community through forestry, you can just tell this is what the future of forestry looks like,” said Ravi Parmar, Minister of Forests. “The Sunshine Coast Community Forest is this future and is leading with a community-first approach that weaves together local economic resiliency with healthy forests to support those who call the Sunshine Coast home.”

The Sunshine Coast Community Forest is one of the smallest in the province, but it has an outsized impact on its community, investing almost $25 million since 2007 in local infrastructure, recreation, economic development and community initiatives across the Sunshine Coast. A recent staple of the community forest, the firewood program, is delivering affordable and sustainably sourced firewood. The program employs people facing barriers in the workforce and provides the firewood at no cost to families facing financial hardship by helping them keep their heat on whether they are elderly, living with a disability or recovering from an injury.

With a commitment to community involvement and transparency, the Sunshine Coast Community Forest is involved in local events, sends out bi-weekly newspaper updates and an email newsletter, has a community advisory panel and carries out field trips for school children, university researchers, government representatives and community members.

“It means a lot to us to be recognized among the many exceptional community forests in B.C.,” said Sara Zieleman, executive director, Sunshine Coast Community Forest. “We’re grateful, first and foremost, to our community with whom we share this success – the many people who generously contribute their time, and the organizations that collaborate with us. This recognition reflects the strength of our partnerships, the dedication of our volunteers and a shared commitment to stewarding the land responsibly. We’re proud to be part of a network of community forests working to create social, ecological and economic benefits across the province.”

The Sunshine Coast Community Forest takes an ecosystem-based management approach that prioritizes forest health, biodiversity and long-term sustainability. It does this by implementing retention systems to reduce the effects of logging, while taking conservation measures to protect wildlife habitats, protect watersheds and reduce the risk of fire.

Community forests are managed by a combination of local governments, community groups and First Nations. At the heart of community forests is a mandate to support local communities and regions, through contributing to a more diversified forest economy and supporting opportunities in recreation, wildlife and watershed management.

The Robin Hood Memorial Award for Excellence in Community Forestry was established in 2016 to honour the life and legacy of the late Robin Hood. Hood was a British Columbian with a passion for local community forestry. Hood was active in the woodlot and community forest communities.

Quotes:

Randy Spyksma, president, BC Community Forest Association (BCCFA) –

“The BCCFA board of directors and staff extend our sincere congratulations to the Sunshine Coast Community Forest (SCCF), the well-deserving recipient of this year’s Robin Hood Memorial Award. The SCCF truly exemplifies excellency in community forestry through dedication to ecosystem-based management, commitment to wildfire risk reduction, and fostering meaningful relationships in their community. We are proud to honour their hard work and the strides they have made in long-term forest stewardship around Sechelt.”

Randene Neill, MLA for Powell River-Sunshine Coast –

“Congratulations to the leaders of the Sunshine Coast Community Forest on their well-deserved award. The leaders of the Sunshine Coast Community Forest exemplify the care and intention we have for our forests locally and across B.C. They fulfil their mission by creating a legacy by balancing the environmental, economic and social aspirations of the community.”

Quick Facts:
- The Sunshine Coast Community Forest is managed by the District of Sechelt and is committed to representation from across the region, with various Sunshine Coast representatives as board members.
- The Sunshine Coast Community Forest was established in 2007 with an allowable annual cut of 20,000 cubic metres.
- There are 62 community forests operating in British Columbia.
- The Community Forest Agreement program contributes more than 2.25 million cubic metres of fibre per year, or 3% of the provincial total cut.
Learn More:

To learn more about the Sunshine Coast Community Forest, visit: https://www.sccf.ca/

To learn more about community forests in B.C., visit:
https://www2.gov.bc.ca/gov/content/industry/forestry/forest-tenures/timber-harvesting-rights/community-forest-agreements

To learn more about the BC Community Forest Association, visit: https://bccfa.ca/

A tribute with more information about Robin Hood’s effect on the community forest program can be found on the BC Community Forest Association website:
http://bccfa.ca/rip-our-beloved-robin-hood

MIL OSI Canada News –
May 30, 2025
MIL-OSI Canada: The road leading up to introduction of bill S-2
Source: Government of Canada News
Backgrounder

In 2018 and 2019, there was a collaborative consultation process on reform with First Nations. Input was received from over 650 participants, representing 395 First Nation communities and/or a tribal councils.
Key Moments:

In 2018 and 2019, there was a collaborative consultation process on reform with First Nations. Input was received from over 650 participants, representing 395 First Nation communities and/or a tribal councils. The conclusion was that Canada should work with First Nations to proactively address issues related to registration and band membership provisions of the Indian Act.

In 2019, An Act to amend the Indian Act in response to the Superior Court of Quebec decision in Descheneaux c. Canada (Procureur général), Bill S-3, came into full force, eliminating various sex-based inequities in the registration provisions of the Indian Act.

In 2020 the Final Report to Parliament on the Review of S-3 acknowledged that residual inequities still remained in the Indian Act. These included the impacts of a family history of enfranchisement on entitlement to registration, an inequity that exists to this day.

In June 2021, on behalf of 16 individual plaintiffs, Juristes Power Law launched a Charter challenge seeking to end the inequities and exclusion faced by families descended from forebears who were enfranchised under earlier versions of the Indian Act. This is referred to as the Nicholas v. AGC civil claim.

In March 2022, the litigation was placed in abeyance, in order to allow the parties to pursue an out of court legislative solution to end the ongoing impacts of enfranchisement.

The Department held over 50 virtual engagement sessions, which included more than 300 participants, from August to December 2022.

Further consultation with First Nations, Indigenous organizations who represent non-status First Nations, and other interested or impacted individuals, will be required to co-develop options to address the broader suite of remaining issues in the registration and band membership provisions of the Indian Act.

On January 6, 2025, Bill C-38 died on the Order Paper, following Parliament dissolution due to the election.
MIL OSI Canada News –
May 30, 2025
MIL-OSI Canada: The honourable Mandy Gull-Masty applauds the introduction of a new bill to address remaining inequities and band membership provisions of the Indian Act

Source: Government of Canada News (2)

May 29, 2025 — Ottawa, unceded Anishinaabeg Territory, Ontario — Indigenous Services Canada

Today, the Honourable Mandy Gull-Masty, Minister of Indigenous Services, announced the introduction of Bill S-2 in the Senate, which addresses some of the remaining inequities in the registration and band membership provisions of the Indian Act.

Bill S-2 replaces former Bill C-38 which was introduced in December of 2022, but did not receive Royal Assent before Parliament was dissolved in March 2025.

The introduction of this Bill early in the current legislative session reiterates the Government of Canada’s commitment to reconciliation and to eliminating inequities that continue to impact First Nations individuals and families.

Bill S-2 proposes amendments in four key areas: enfranchisement, voluntary deregistration, natal band reaffiliation and membership, and the removal of outdated and offensive language related to dependent persons. These changes respond directly to concerns raised by First Nations and individuals impacted by the Indian Act‘s residual inequities.

If passed, the legislation would ensure that individuals with family histories of enfranchisement are entitled to registration under the Indian Act and extend entitlement to their descendants.

Bill S-2 continues the legacy of former Bill C-38 which was developed from extensive engagement efforts, including over 50 virtual sessions held with First Nations, Indigenous organizations, and other partners. These discussions were instrumental in shaping the proposed amendments. It is estimated that approximately 3,500 individuals could become newly entitled to registration as a result of the changes in the first five years after it passes.

MIL OSI Canada News –

May 30, 2025
MIL-OSI: ReconAfrica Announces First Quarter Filings and Corporate Update
Source: GlobeNewswire (MIL-OSI)

CALGARY, Alberta, May 29, 2025 (GLOBE NEWSWIRE) — Reconnaissance Energy Africa Ltd. (the “Company” or “ReconAfrica”) (TSXV: RECO) (OTCQX: RECAF) (Frankfurt: 0XD) (NSX: REC) announces the filing of its fiscal first quarter disclosure documents for the three-month period ended March 31, 2025, including the unaudited consolidated financial statements and Management’s Discussion and Analysis (“MD&A”), which are available on SEDAR+ at www.sedarplus.ca .

Brian Reinsborough, President and CEO of the Company commented: “ReconAfrica continues to move Prospect I toward spud and management remains excited about this exploration target, which is our largest prospect to be drilled to date. On trend with the Naingopo and Prospect I locations, the Company recently gained access to over five million acres in Angola, and we look forward to working with our partner, ANPG to explore this acreage. Management recognizes its responsibility to all stakeholders to steward the evaluation and exploration process of this vast portfolio with the utmost care. We are keen to continue our work with shareholders, local government, joint venture and community partners.”

Selected Highlights
For the first quarter ended March 31, 2025, and subsequent period, we announced:
- On January 29, 2025, the Namibian Ministry of Mines & Energy approved the previously announced farm-down agreement with BW Energy (“BW”) acquiring a 20% WI in Petroleum Exploration License 073 (“PEL 73”).
- On January 30, 2025, results from the Naingopo exploration well on PEL 73 aided the Company with the selection of Prospect I as the next drill prospect.
- On April 17, 2025, ReconAfrica entered a Memorandum of Understanding (“MOU”) with the National Oil, Gas and Biofuels Agency of Angola (“ANPG”), for a joint exploration project in the Etosha-Okavango basin, located onshore in southeastern Angola. The MOU area, which is contiguous to PEL 73 in Namibia, added 5.2 million acres of exploration lands to the Company’s exploration portfolio.
- On April 30, 2025, an updated NSAI Report was filed on SEDAR+ at www.sedarplus.ca.
- On May 21, 2025, Mark Friesen, CFA joined the Company as Managing Director, Investor Relations and Capital Markets.
Operational Update

Prospect I, located onshore Namibia in Petroleum Exploration License 073 (“PEL 73”), will be the Company’s largest exploration prospect drilled to date. Prioritizing Prospect I as the next drillable prospect was significantly influenced by the drilling results of the Naingopo prospect, which has confirmed the presence of carbonate reservoir, indications of oil observed from the Damara Fold Belt and oil being recovered at surface in the drilling mud system.

The Company has conducted extensive stakeholder and community engagement activities and obtained local consents. The Company is completing permitting requirements and obtaining all regulatory approvals. Pre-construction activities are currently underway, including, de-brushing, de-mining, access road infrastructure development and drill site preparation. ReconAfrica is committed to continuing to work collaboratively with communities, governments and regulators.

Management remains encouraged that the sequence of completing the necessary pre-drill activities on Prospect I is progressing toward spudding the well. Permitting for road and pad construction is proceeding and we expect the rig to move in late June with spud shortly thereafter. Any adjustments to the spud date of Prospect I are logistical in nature with management’s view regarding the prospectivity of the target remaining positive and unchanged from earlier communications.

About ReconAfrica

ReconAfrica is a Canadian oil and gas company engaged in the exploration of the Damara Fold Belt and Kavango Rift Basin in the Kalahari Desert of northeastern Namibia, southeastern Angola and northwestern Botswana, where the Company holds petroleum licences comprising ~13 million contiguous acres. In all aspects of its operations, ReconAfrica is committed to minimal disturbance of habitat in line with international standards and implementing environmental and social best practices in its project areas.

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

For further information contact:

Brian Reinsborough, President and Chief Executive Officer
Mark Friesen, Managing Director, Investor Relations & Capital Markets

IR Inquiries Email: investors@reconafrica.com
Media Inquiries Email: media@reconafrica.com
Telephone: 1-877-631-1160

Cautionary Note Regarding Forward-Looking Statements:

Certain statements contained in this press release constitute forward-looking information under applicable Canadian, United States and other applicable securities laws, rules and regulations, including, without limitation, the timing of permits, timing and sequencing of the next well, actual well results, future drilling activity, resource potential, the updated NSAI Report, the Company’s commitment to minimal disturbance of habitat, in line with best international standards and its implementation of environmental and social best practices in all of its project areas. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on ReconAfrica’s current belief or assumptions as to the outcome and timing of such future events. There can be no assurance that such statements will prove to be accurate, as the Company’s actual results and future events could differ materially from those anticipated in these forward-looking statements as a result of the factors discussed in the “Risk Factors” section in the Company’s annual information form dated April 29, 2025, available under the Company’s profile at www.sedarplus.ca. Actual future results may differ materially. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to ReconAfrica. The forward-looking information contained in this release is made as of the date hereof and ReconAfrica undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

The MIL Network –
May 30, 2025
MIL-OSI Economics: Canada needs a bold electricity plan—now.

Source: – Press Release/Statement:

Headline: Canada needs a bold electricity plan—now.

Electricity Alliance Canada proposes a new federal playbook to secure this country’s economic future.

Op-ed by Electricity Alliance Canada: Vittoria Bellissimo (President and CEO, Canadian Renewable Energy Association), Francis Bradley (President and CEO, Canadian Electricity Association), Michelle Branigan (CEO, Electricity Human Resources Canada), George Christidis (President and CEO, Canadian Nuclear Association), Elisa Obermann (Executive Director of Marine Renewables Canada) and Lorena Patterson (President and CEO, WaterPower Canada)

As Canada welcomes a new federal government, the electricity sector stands at a pivotal juncture. With climate change accelerating, global energy dynamics shifting, the need for electricity increasing, and potential US tariffs waiting in the wings, we cannot afford to lose our national advantage.

Canadians expect affordable, reliable, and secure power—and we, Canada’s electricity industry, intend to deliver it.

Canada’s economy was built on affordable, reliable and abundant power. Today, this country is predominantly powered by clean-energy sources, with hydroelectricity accounting for more than 60 per cent of electricity generation. Renewable energy, such as wind and solar, is growing steadily, alongside energy storage solutions. Nuclear power plays a significant role, especially in Ontario and New Brunswick, with opportunities for expansion in other provinces.

But our current supply won’t be enough. Canada produces around 630 TWh of electricity per year, yet every province and territory is forecasting a much greater need. As we electrify our industries, bring manufacturing back home, and digitize our economy, the pressure on electricity systems will grow. To meet this demand, we must make substantial investments in electricity generation, transmission and distribution, which will bolster employment opportunities across this country.

That’s why we are calling on the new federal government to work with the electricity sector on five urgent priorities.

First and foremost, the electricity industry needs greater clarity so we can move forward at speed. Slow and uncertain approval processes can stymie investment in major projects, leading to delays, cancellations or higher costs. We need an efficient approval process for major electricity projects, and we need to finalize the Clean Economy Investment Tax Credits (ITCs). Further, given the stated intention to proceed with industrial carbon pricing, we recommend a flexible approach to drive environmental gains while promoting innovation and competitiveness without causing regional or sectoral disadvantages.

Secondly, Canada cannot move forward on clean energy without Indigenous communities. From coast to coast to coast, Indigenous-led or co-owned projects have been at the forefront of clean-energy initiatives. The federal government should ensure Indigenous voices are central to decision-making processes, and expand funding tools like the Canada Infrastructure Bank (CIB) and Indigenous Loan Guarantee program to enable Indigenous partners to participate fully and on their own terms, promoting Reconciliation.

Thirdly, Canada has talked for years about energy corridors and grid connections across provinces. Now is the time to turn this talk into action. Canada’s provinces and territories offer diverse energy jurisdictions can benefit from supporting each other. We need collaboration between the federal government, provinces, crown corporations and utilities to support interprovincial energy trade and infrastructure projects, along with interpovincial labour mobility in regulated occupations.

Supply chains are also critical to our success. To build the grid of the future and support Canada’s growth, we need secure and proven supply chains. Globalized supply chains—on which our electricity projects depend—have faced significant challenges over the past year, including international tariffs, increased regulatory requirements and ongoing trade tensions with the US. The federal government needs to help manage risk and secure the electricity sector’s supply chains.

Finally, we need a strong system to train and produce skilled workers. Canada’s growing electricity sector relies on a workforce of well-trained tradespeople and engineers to fill new, high-quality job opportunities. This workforce will build and operate a stable, reliable and resilient system that supports Canada’s economic and environmental goals and provides a good quality of life for Canadians. We appreciate the federal government’s past support, now calling on them to continue to invest in long-term training programs to develop an expanded, world-class workforce.

Affordable, reliable, clean electricity is a strategic Canadian advantage, and the electricity sector is the backbone of our economy. We’ve increased supply while lowering emissions, and we will continue to do so. As we welcome the new federal government, we’re ready to get to work building a strong and resilient electricity system that will meet Canada’s rising demand and secure our economic future. And for this work to succeed, Canada needs a bold electricity plan, now.
The post Canada needs a bold electricity plan—now. appeared first on Canadian Renewable Energy Association.

MIL OSI Economics –

May 30, 2025

MIL-OSI: ThreeD Capital Inc. Releases Results For the Three and Nine Months Ended March 31, 2025

Source: GlobeNewswire (MIL-OSI)

TORONTO, May 29, 2025 (GLOBE NEWSWIRE) — ThreeD Capital Inc. (“ThreeD” or the “Company”) (CSE:IDK / OTCQX:IDKFF) a Canadian-based venture capital firm focused on opportunistic investments in companies in the junior resources and disruptive technologies sectors, is pleased to announce its unaudited results as at and for the three and nine months ended March 31, 2025.

As at March 31, 2025, the Company had cash, investments and digital assets of $37.4 million.

As at March 31, 2025, net asset value per share was $0.53 as compared to $0.86 as at June 30, 2024. (See “Use of Non-GAAP Financial Measures” elsewhere)

Financial Highlights for the three and nine months ending March 31, 2025 with comparatives:

Operating Results	Three months ended March 31,				Nine months ended March 31,
		2025		2024		2025		2024
Net investment and digital assets gains (losses)	$	(4,838,215)	$	4,486,530	$	(6,348,077)	$	7,861,037
Operating, general and administrative expenses		(815,096)		(1,059,859)		(2,812,064)		(2,581,273)
Net income (loss) for the period		(5,463,310)		3,709,026		(8,778,468)		5,902,964
Total comprehensive income (loss) for the period		(5,463,838)		3,708,589		(8,779,393)		5,902,545
Basic earnings (loss) per common share		(0.08)		0.07		(0.15)		0.11
Diluted earnings (loss) per common share		(0.08)		0.07		(0.15)		0.11

Consolidated statement of financial position highlights	March 31, 2025		June 30, 2024
Cash	$	7,567	$	482,146
Investments, at fair value		36,263,127		51,577,705
Digital assets, at fair value less cost to sell		1,097,449		3,156,065
Total assets		41,016,482		56,174,715
Total liabilities		633,307		11,455,313
Share capital, contributed surplus, warrants		156,016,658		151,573,492
Foreign currency translation reserve		874,177		875,102
Deficit		(116,507,660)		(107,729,192)

Sheldon Inwentash, Chairman and CEO, stated “Although ThreeD recognized losses during the quarter, the Company’s portfolio remains fundamentally strong, with key investments continuing to achieve significant milestones and growth targets. This past quarter, we observed encouraging developments across several holdings, particularly in the micropayments, artificial intelligence, and digital asset sectors. As the Company maintains these promising investments, ThreeD also remains focused on expanding its network to pursue new investment opportunities that align with our strategic vision.”

Use of Non-GAAP Financial Measures:

This press release contains references to “net asset value per share” (“NAV”) which is a non-GAAP financial measure. NAV is calculated as the value of total assets less the value of total liabilities divided by the total number of common shares outstanding as at a specific date. The term NAV does not have any standardized meaning according to GAAP and therefore may not be comparable to similar measures presented by other companies. There is no comparable GAAP financial measure presented in ThreeD’s consolidated financial statements and thus no applicable quantitative reconciliation for such non-GAAP financial measure. The Company believes that the measure provides information useful to its shareholders in understanding our performance, and may assist in the evaluation of the Company’s business relative to that of its peers.

About ThreeD Capital Inc.

ThreeD is a publicly-traded Canadian-based venture capital firm focused on opportunistic investments in companies in the junior resources and disruptive technologies sectors. ThreeD’s investment strategy is to invest in multiple private and public companies across a variety of sectors globally. ThreeD seeks to invest in early stage, promising companies where it may be the lead investor and can additionally provide investees with advisory services and access to the Company’s ecosystem.

For further information:

Matthew Davis, CPA

Chief Financial Officer
davis@threedcap.com

Phone: 416-941-8900

The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.

Forward-Looking Statements

This news release contains certain forward-looking statements and forward-looking information (collectively referred to herein as “forward-looking statements”) within the meaning of Canadian securities laws including, without limitation, statements with respect to the future investments by the Company. All statements other than statements of historical fact are forward-looking statements. Undue reliance should not be placed on forward-looking statements, which are inherently uncertain, are based on estimates and assumptions, and are subject to known and unknown risks and uncertainties (both general and specific) that contribute to the possibility that the future events or circumstances contemplated by the forward- looking statements will not occur. Although the Company believes that the expectations reflected in the forward-looking statements contained in this press release, and the assumptions on which such forward-looking statements are made, are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause the Company’s actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, except as required by applicable law. The forward- looking statements contained herein are expressly qualified by this cautionary statement.

The MIL Network –

May 30, 2025

MIL-OSI Canada: Prime Minister Carney speaks with Crown Prince and Prime Minister of Saudi Arabia His Royal Highness Mohammed bin Salman

Source: Government of Canada – Prime Minister

Today, the Prime Minister, Mark Carney, spoke with the Crown Prince and Prime Minister of Saudi Arabia, His Royal Highness Mohammed bin Salman.

The leaders discussed energy security and deepening bilateral trade. They agreed on the imperative of a sustainable peace in the Middle East.

The Prime Minister and the Crown Prince agreed to remain in close contact.

Associated Link

MIL OSI Canada News –

May 30, 2025
MIL-OSI Canada: Prime Minister Mark Carney speaks with Crown Prince and Prime Minister of Saudi Arabia His Royal Highness Mohammed bin Salman

Source: Government of Canada – Prime Minister

Today, the Prime Minister, Mark Carney, spoke with the Crown Prince and Prime Minister of Saudi Arabia, His Royal Highness Mohammed bin Salman.

The leaders discussed energy security and deepening bilateral trade. They agreed on the imperative of a sustainable peace in the Middle East.

The Prime Minister and the Crown Prince agreed to remain in close contact.

Associated Link

MIL OSI Canada News –

May 30, 2025
MIL-OSI Canada: The Sexual Misconduct Support and Resource Centre Now Offers Independent Legal Assistance

Source: Government of Canada News

May 29, 2025 – Ottawa, Ontario – Department of National Defence

The Sexual Misconduct Support and Resource Centre (SMSRC) is expanding its services to include direct legal assistance at no cost to individuals, 18 years and older, who have experienced sexual misconduct in a Department of National Defence (DND)/Canadian Armed Forces (CAF) context.

Starting today, the Independent Legal Assistance (ILA) Program is launching the services of a full-time bilingual independent legal counsel with a background in the prosecution of sexual offences and knowledge of the military justice system.

The ILA Program supports individuals in making informed choices that align with their needs, goals, and circumstances, while helping them understand their rights and options.

Since May 2023, individuals who have experienced sexual misconduct within a DND/CAF context can also apply for reimbursement of eligible legal expenses if they consulted an external lawyer in Canada. Eligible expenses must have been incurred on or after April 1, 2019.

Individuals interested in the ILA Program’s services or in receiving reimbursement for their eligible legal costs can call the SMSRC 24/7 line at 1-844-750-1648 to speak with a counsellor, who will refer them to the ILA Program. They can also email the SMSRC Monday to Friday 7 a.m. to 5 p.m. Eastern Time at DND.SMSRC-CSRIS.MDN@forces.gc.ca.

MIL OSI Canada News –

May 30, 2025
MIL-OSI: Central 1 reports first quarter 2025 financial results
Source: GlobeNewswire (MIL-OSI)

VANCOUVER, British Columbia, May 29, 2025 (GLOBE NEWSWIRE) — Central 1 Credit Union (Central 1) today reported its 2025 first quarter performance reflecting continued strength in its core fee-based revenue streams and a one-time provision associated with the transfer of its Digital Banking business.

“This quarter, we finalized activities to support the transition of the digital banking side of our business, including the transfer of some employees to Intellect Design,” said Sheila Vokey, President & CEO of Central 1. “We are focused on our role to deliver reliable payments through a centralized platform of new APIs, core investments and financial products through our treasury team, and as a connector to critical financial services partners and major banking hosts in Canada. Central 1 remains focused on delivering long-term value through ongoing innovation and operational stability.”

First quarter 2025 compared with the first quarter 2024:
- Net loss, inclusive of provision related to digital banking, was $24.0 million, compared with net income of $28.9 million.
- Adjusted net income of $1.7 million, compared with $28.9 million.
- Net interest income was $17.4 million, compared with $14.5 million.
- Net fair value losses were $7.4 million, compared with net fair value gains of $34.5 million.
- Return on average equity (ROE)¹^,2 of (2.3)%, compared with 3.8%.
- Adjusted ROE^1,2 of 0.8%, compared with 3.8%.
Adjusted net income in the current quarter excludes a provision of $35.1 million (pre-tax).

Core Business Performance:

Digital Banking
In January 2025, Central 1 announced the transfer of digital banking operations to Intellect Design Arena Ltd. (Intellect), and the transaction closed February 28, 2025. Also during the quarter, Central 1 recognized a provision of $35.1 million related to the asset transfer and Central 1’s obligation to provide on-going access to its digital banking infrastructure to Intellect. Central 1 continues to work with Intellect and our clients to support clients’ transition to alternative digital banking providers within a three-to-four-year timeline.

Treasury
Treasury reported net income was $5.4 million for the quarter, reflecting the impact of challenging market conditions, including a broad-based widening of credit spreads and a shift in market sentiment. Widening credit spreads in response to the threat of higher tariffs resulted in unrealized losses on Treasury’s fixed income portfolio of $7.4 million. While these external factors influenced performance compared to the $34.6 million reported in the first quarter of the prior year, results were supported by an increase in net interest income, underscoring the strength and resilience of the core business operations.

Payments
Payments reported a net loss of $1.7 million for the quarter, compared to net income of $1.9 million in the same period last year. This loss reflects strategic investments to accelerate long-term growth, including the ongoing development of enhanced payment capabilities for both new and existing clients. As part of this forward-looking approach, non-interest expenses increased by $5.6 million year-over-year. Total revenue remained consistent with the prior year, highlighting a stable foundation as the division positions itself for future expansion.

In February, Central 1 welcomed a new Chief Payments Officer, Barclay Hancock, who draws on his significant experience in payments across business and financial services to lead the business line as we continue to deliver reliable payments services through our centralized, modular platform of APIs. Central 1 continues to add API availability, including API access to our existing connections with all the major banking hosts in Canada — delivering payments transactions and banking host data for clients regardless of the digital banking provider they use.

Central 1’s first quarter Management’s Discussion and Analysis (MD&A) and Financial Statements have been filed on Central 1’s SEDAR profile at www.sedarplus.com and are also available at www.central1.com/investor-relations.

Notes
^1.This is a non-GAAP financial ratio. Refer to the “Non-GAAP and Other Financial Measures” section of the MD&A for more information.

²^.When calculating the annualized return on average assets and annualized return on average equity, the onerous contract provision was treated as a non-recurring item and therefore was not annualized.

About Central 1
Central 1 cooperatively empowers credit unions and other financial institutions who deliver banking choice to Canadians. With assets of $10.8 billion as of March 31, 2025, Central 1 provides critical payments, treasury and clearing and settlement services at scale to enable a thriving credit union system. We do this by collaborating with our clients, developing strategies, products, and services to support the financial well-being of their more than 5 million diverse customers in communities across Canada. For more information, visit www.central1.com.

Caution Regarding Forward Looking Statements
This press release and announcement contain historical and forward-looking statements. All statements other than statements of historical fact are or may be based on assumptions, uncertainties, and management’s best estimates of future events. Central 1 has based the forward-looking statements on current plans, information, data, estimates, expectations, and projections about, among other things, results of operations, financial condition, prospects, strategies and future events, and therefore undue reliance should not be placed on them. These include, without limitation, statements relating to our financial and non-financial performance objectives, vision and strategic goals and priorities, including focus on capital and cost management, the economic, market and regulatory review and outlook for the Canadian economy and the provincial economies in which our member credit unions operate , the impacts of external events such as international conflicts, protests, natural disasters or pandemics, as well as statements that contain the words “may,” “will,” “intends” and “anticipates” and other similar words and expressions.

Forward-looking statements are based on the opinions and estimates of management at the date the statements are made. Actual results may differ materially from those currently anticipated. Securityholders are cautioned that such forward-looking statements involve risks and uncertainties. Certain important assumptions by Central 1 in making forward-looking statements include, but are not limited to, competitive conditions, economic conditions and regulatory considerations. Important risk factors that could cause actual results and the timing of such results to differ materially from those expressed or implied by such forward-looking statements include economic risks, regulatory risks (including legislative and regulatory developments), risks and uncertainty from the impact of rising or falling interest rates, international conflicts, natural disasters or pandemics, geopolitical uncertainty, information technology and cyber risks, environmental and social risk (including climate change), digital disruption and innovation, reputation risk, competitive risk, privacy, data and third-party related risks, risks related to business and operations, risks relating to the transition of clients to alternative digital banking providers, and other risks detailed from time to time in Central 1’s periodic reports filed with securities regulators. Central 1 is subject to risks associated with evolving U.S. trade and tariff policies, inflationary pressures, interest rate volatility, and potential regulatory changes under the current U.S. administration. Shifts in tariff structures or global trade conditions may adversely affect our cost structure and overall operating environment. Given these risks, the reader is cautioned not to place undue reliance on forward-looking statements. Central 1 undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable laws.

Contacts

Media:
Heather Merry
Senior Manager, Communications
Central 1 Credit Union
T 1.800.661.6813 ext. 2355
E communications@central1.com

Investors:
Brent Clode
Chief Investment Officer
Central 1 Credit Union
T 905.282.8588 or 1.800.661.6813 ext. 8588
E bclode@central1.com

The MIL Network –
May 30, 2025
MIL-OSI: Ninepoint Partners Named Exclusive Canadian Capital Formation Partner for WP Global’s Lower Middle Market Private Equity Mandates

Source: GlobeNewswire (MIL-OSI)

TORONTO, May 29, 2025 (GLOBE NEWSWIRE) — Ninepoint Partners LP (“Ninepoint”), one of Canada’s leading independent investment managers, today announced a new strategic partnership with WP Global Partners LLC (“WP Global”), a private equity investment firm with more than $3.2 billion in assets under management and a distinguished 20-year track record in the U.S. lower middle market.

Through this partnership, Ninepoint Institutional Partners LP, the institutional division of Ninepoint, has been appointed as the exclusive capital formation partner in Canada for certain WP Global lower middle market private equity strategies, including its flagship COREalpha series. The collaboration aims to provide Canadian institutional investors with access to WP Global’s highly curated private equity partnership and co-investment opportunities focused on small and midsize companies across the United States.

Founded in 2005, WP Global‘s team has collectively invested over $5.7 billion across more than 450 funds and $1.6 billion in 145 portfolio companies. WP Global is known for its rigorous manager selection process, thematic co-investments, and consistent performance across multiple market cycles. The firm’s WP COREalpha flagship series targets value creation through a diversified portfolio of private equity partnerships and direct private equity co-investments with a focus on defensible businesses in healthcare, business services, consumer, and specialty manufacturing sectors.

“We are excited to partner with WP Global” said Jalaj Antani, Director, Ninepoint Institutional Partners LP. “We believe WP Global’s decades of experience and notable track record in selecting lower middle market private equity investments will be very appealing for Canadian institutional investors.”

“We are thankful for the collaboration with Ninepoint and are excited to partner with Canadian investors to help them scale down into the attractive and expansive U.S. lower middle market.” said J.F. Berry, Senior Managing Partner at WP Global Partners.

WP Global’s investment philosophy focuses on sectors with strong growth dynamics and low correlation to public markets, including companies with recurring consistent revenue, defensible business models, and clear value creation levers. Through its mandates, WP seeks to build portfolios with long-term resilience and enhanced return potential.

About Ninepoint Partners

Ninepoint Institutional Partners works with Canadian Pension Plans, Foundations, Endowments, Insurance Companies, Family Offices, and other institutional allocators to deliver objective, comprehensive investment management solutions from around the globe. By collaborating with best-in-class managers, we offer access to unique strategies that optimize risk/return profiles in institutional portfolios.

Based in Toronto, Ninepoint Partners LP is one of Canada’s leading alternative investment management firms overseeing approximately $7 billion in assets under management and institutional contracts. Committed to helping investors explore innovative investment solutions that have the potential to enhance returns and manage portfolio risk, Ninepoint offers a diverse set of alternative strategies spanning Equities, Fixed Income, Alternative Income, Real Assets, F/X and Digital Assets.

For more information on Ninepoint, please visit www.ninepoint.com or contact us at 416-362-7172 or 1-888-362-7172 or institutional@ninepoint.com.

About WP Global Partners

Founded in 2005, WP Global Partners LLC is a private equity investment firm with over $3.2 billion in assets under management. WP Global focuses on partnership and co-investment strategies across the U.S. lower middle market and its team has invested in more than 450 funds and 145 companies. The firm operates offices in Chicago, New York, Los Angeles, and South Walton. WP Global is recognized for its experienced team, disciplined investment process, and long-standing relationships with premier fund managers.

For more information, visit www.wpglobalpartners.com.

Media Inquiries

Kate Sylvester/Liz Shoemaker
Longacre Square Partners
ninepoint@longacresquare.com

The MIL Network –

May 30, 2025
MIL-OSI Canada: Boosting job support for parents
Alberta’s strength lies in its people, and in the families that call this province home. But for many parents, especially single parents, meeting the demands of raising children and earning an income can be a significant challenge.

Through Budget 2025, Alberta’s government is committing $5.3 million to support programs that help parents find the stable, reliable work they need to ensure Alberta remains the best place to live, work, and raise a family.

“Parents across the province are raising Alberta’s future, and it’s our responsibility to support them in return. Helping parents find stable employment empowers families, strengthens communities and lays the foundation for long-term prosperity. Through this investment, our government is helping connect parents with the tools they need to pursue meaningful work and support their families.”

Jason Nixon, Minister of Assisted Living and Social Services

This investment is increasing employment supports for parents by more than $1 million year-over-year. As Alberta’s government builds toward a stronger future, it’s investing in practical solutions that help parents enter or return to the workforce.

“The Alberta advantage starts with giving everyone an opportunity to pursue meaningful employment. Better access to training and employment services means more parents having the means to put food on their table, raising healthy families who are proud to call Alberta home.”

Joseph Schow, Minister of Jobs, Economy, Trade and Immigration

Of the total $5.3-million commitment, $4.2 million is being invested in Lifemark Health Group’s Empower program, which connects single mothers in Edmonton and Calgary with employment and education opportunities. This program is available at no cost and each participant receives a customized plan to help them meet their goals. The remaining $1.1 million is supporting the Career Advancement and Resources for Employment Success (CARES) program, which provides employment supports to underemployed and unemployed parents in the Edmonton area.

Both programs provide participants with access to career and life skills workshops, employment certifications, volunteer and job placement opportunities, and access to wrap-around services like mental health supports.

“Lifemark is proud to partner with the Government of Alberta to deliver innovative employment programs. By empowering unemployed and underemployed parents with life-changing skills and opportunities to access meaningful employment, we’re helping build brighter futures for their families and stronger, more resilient communities across Alberta.”

Sonya Lockyer, president and CEO, Lifemark Health Group

Alberta’s government is committed to working with service providers across the province to improve employment supports for all Albertans – ensuring Alberta remains the land of opportunity.

Quick facts
- The Empower program offers single mothers career workshops, access to resources such as the Clothing Closet and Community Pantry, learning activities to enhance employability skills, work experience placements and 24 weeks of follow up.
- The CARES program integrates employment assistance with support for child care solutions, offering extended hours on evenings and weekends.
Related information
- Alberta employment supports
- Training and Employment Services
- Employment services directory
Related news
- Helping young Albertans find jobs (May 26, 2025)
- Investing to help Albertans get hired (April 30, 2025)
MIL OSI Canada News –
May 30, 2025
MIL-OSI Canada: Government of Saskatchewan Declares Wildfire State of Emergency

Source: Government of Canada regional news

Released on May 29, 2025

Due to the wildfires affecting communities across Saskatchewan, today Premier Scott Moe, in conjunction with the Saskatchewan Public Safety Agency (SPSA), declared a provincial State of Emergency.

As of this morning, there are 17 active wildfires in Saskatchewan and 15 communities have evacuated. To date this year, there have been 206 wildfires, well above the five-year average of 125.

“We are seeing the devastating effects of wildfires impact communities across our province,” Moe said. “Therefore, today we are making a Provincial Declaration of Emergency to mobilize the resources necessary to safely evacuate Saskatchewan residents and to protect our communities.”

This declaration provides enhanced powers to the Minister and SPSA that may be required to help address this unprecedented start of the fire season.

The province does not take the exercise of these powers lightly, but they are necessary to enhance public safety.

The state of emergency will be in effect for 30 days and can be extended if necessary.

The SPSA has committed to providing daily updates on the current wildfire situation to ensure that Saskatchewan residents are provided with the most up to date information.

Established in 2017, the SPSA is a treasury board crown corporation responsible for wildfire management, emergency management, Sask911, SaskAlert, the Civic Addressing Registry, the Provincial Disaster Assistance Program and fire safety.

Anyone who spots a wildfire can call 1-800-667-9660, dial 9-1-1 or contact their closest SPSA Forest Protection Area office.

-30-

For more information, contact:

Saskatchewan Public Safety Agency (SPSA)
Regina
Phone: 306-798-0094
Email: media.spsa@gov.sk.ca

MIL OSI Canada News –

May 30, 2025
MIL-OSI Security: Russian National and Leader of Qakbot Malware Conspiracy Indicted in Long-Running Global Ransomware Scheme

Source: US FBI

LOS ANGELES – A federal grand jury indictment unsealed today charges a Russian national with leading a group of cyber criminals that developed and deployed the Qakbot malware that infected thousands of computers worldwide, installing ransomware and demanding payment from victims.

Rustam Rafailevich Gallyamov, 48, of Moscow, Russia, is charged with one count of conspiracy to commit computer fraud and abuse, and one count of conspiracy to commit wire fraud. He is believed to be in Russia and is not in custody.

In connection with the charges, the Justice Department filed today a civil forfeiture complaint against more than $24 million in cryptocurrency seized from Gallyamov over the course of the investigation. These actions are the latest step in an ongoing multinational effort by the United States, France, Germany, the Netherlands, Denmark, the United Kingdom, and Canada to combat cybercrime.

“The criminal charges and forfeiture case announced today are part of an ongoing effort with our domestic and international law enforcement partners to identify, disrupt, and hold accountable cybercriminals,” said United States Attorney Bill Essayli for the Central District of California. “The forfeiture action against more than $24 million in virtual assets also demonstrates the Justice Department’s commitment to seizing ill-gotten assets from criminals in order to ultimately compensate victims.”

“Today’s announcement of the Justice Department’s latest actions to counter the Qakbot malware scheme sends a clear message to the cybercrime community,” said Matthew R. Galeotti, Head of the Justice Department’s Criminal Division. “We will not stop holding cybercriminals accountable, even over a course of years, and we will use every legal tool at our disposal to identify you, charge you, forfeit your ill-gotten gains, and disrupt your criminal activity.”

“Mr. Gallyamov’s bot network was crippled by the talented men and women of the FBI and our international partners in 2023, but he brazenly continued to deploy alternative methods to make his malware available to criminal cyber gangs conducting ransomware attacks against innocent victims globally,” said Akil Davis, the Assistant Director in Charge of the FBI’s Los Angeles Field Office. “The charges announced today exemplify the FBI’s commitment to relentlessly hold accountable individuals who target Americans and demand ransom, even when they live halfway across the world.”

According to the indictment, Gallyamov developed, deployed, and controlled the Qakbot malware beginning in 2008. From 2019 onward, Gallyamov allegedly used the Qakbot botnet to infect thousands of victim computers around the world to establish a network or “botnet” of infected computers. Once Gallyamov gained access to victim computers, he provided access to co-conspirators who infected the computers with ransomware, including Prolock, Dopplepaymer, Egregor, REvil, Conti, Name Locker, Black Basta, and Cactus. Gallyamov was paid a portion of the ransoms received from ransomware victims.

The announcement of charges today is the latest step taken by the Justice Department against the Qakbot conspiracy. In August 2023, a U.S.-led multinational operation disrupted the Qakbot botnet and malware. At that time, the Justice Department announced the seizure of illicit proceeds from Gallyamov, including more than 170 bitcoin and more than $4 million of USDT and USDC tokens.

According to the indictment, after the disruption and takedown of the Qakbot botnet, Gallyamov and his co-conspirators continued their criminal activities. Instead of a botnet, they allegedly used different tactics, including “spam bomb” attacks on victim companies, where co-conspirators would trick employees at those victim companies into granting access to computer systems. The indictment alleges that Gallyamov orchestrated spam bomb attacks against victims in the United States as recently as January 2025. It also alleges that Gallyamov and his co-conspirators deployed Black Basta and Cactus ransomware on victim computers.

On April 25, pursuant to a seizure warrant, the FBI seized additional illicit proceeds from Gallyamov, including more than 30 bitcoin and more than $700,000 of USDT tokens. Today, the Department filed a civil forfeiture complaint in the Central District of California against all the illicit proceeds seized from Gallyamov – worth more than $24 million as of today – to forfeit and ultimately return those funds to victims.

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

If convicted, Gallyamov would face a statutory maximum sentence of 25 years in federal prison.

The investigation of Gallyamov was led by the FBI’s Los Angeles Field Office, which worked closely with investigators from Germany’s Bundeskriminalamt (BKA), the Netherlands National Police, the French Police Cybercrime Central Bureau, and Europol. The Justice Department’s Office of International Affairs and the FBI Milwaukee Field Office provided significant assistance.

The case against Gallyamov is being prosecuted by Assistant United States Attorneys Khaldoun Shobaki and Lauren Restrepo of the Cyber and Intellectual Property Crimes Section, and the Criminal Division’s Computer Crime and Intellectual Property Section (CCIPS) Senior Counsel Jessica Peck. Assistant United States Attorney James Dochterman of the Asset Forfeiture and Recovery Section is prosecuting the forfeiture case.

These law enforcement actions were taken in conjunction with Operation Endgame, an ongoing, coordinated effort among international law enforcement agencies aimed at dismantling and prosecuting cybercriminal organizations around the world.

Resources for victims can be found on the following website, which will be updated as additional information becomes available: Qakbot Resources.

MIL Security OSI –

May 30, 2025

MIL-OSI Canada: Strengthening Alberta’s market presence in Southeast Asia

Source: Government of Canada regional news (2)

Given the uncertainty surrounding trade in North America and the potential implications of costly tariffs, diversifying Alberta’s international markets is more important than ever. During this mission, Minster Sigurdson will strengthen relationships with Vietnam and the Philippines to increase trade and investment opportunities. This will directly benefit Alberta producers and processors, improving international connections for the province and opening new markets for Alberta agriculture and food products.

“Expanding on our relationships with international partners is an important step towards the diversification of our agricultural markets. Establishing a strong presence in Southeast Asian markets during this groundbreaking mission will help ensure the long-term success of Alberta’s economy and agri-food sector.”

RJ Sigurdson, Minister of Agriculture and Irrigation

The mission is part of Alberta’s overall plan to position the province as a reliable trade partner and attractive market for investors across the globe.

During his visit, Minister Sigurdson will meet with Philippine and Vietnamese agri-businesses, officials and investors to strengthen ties, promote Alberta’s agri-food exports and boost trade and investment opportunities. He will also meet with prospective buyers to reaffirm Alberta as a consistent supplier of high-quality agriculture and agri-food products to Southeast Asia.

The Alberta government is committed to working with its national and international partners to advance shared interests that can lead to new opportunities for agri-businesses in Alberta and around the world.

The Minister will travel with two staff members. Mission expenses will be posted on the travel and expense disclosure page.

Quick facts

In 2024, Vietnam and the Philippines ranked as the second- and third-largest Southeast Asian markets for Alberta’s agriculture and agri-food exports.
That year, exports to Vietnam were valued at $165.4 million and exports to the Philippines were valued at $91.9 million.
- Major products exported to Vietnam included beef, wheat, feeds of vegetable origin, pork, other crude animal products and processed potatoes.
- Major exports to the Philippines included wheat, pork, prepared animal feeds, beef and other meats.
The Philippines and Vietnam have populations of more than 110 million and 101 million, respectively.
Growing populations, combined with rapid urbanization and rising incomes, are driving increased demand for sustainably produced high-quality food in Southeast Asia. This presents opportunities for Alberta’s agriculture and food products.
Canada and the Philippines are currently exploring a potential free trade agreement that could strengthen trade relations and offer Alberta more opportunities to expand its presence in the Philippine market.
Both Canada and Vietnam are members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), facilitating trade through reduced tariffs and improved market access.

Itinerary for Minister Sigurdson

May 30 – May 31	Travel to Ho Chi Minh City, Vietnam
June 1
June 2	Meet with Consulate of Canada and Agri-food Trade Commissioner Meet with government leaders in Ho Chi Minh City Meet with key Vietnamese animal feed and livestock industry leaders Meet with Vietnamese flour milling company and tour its facility
June 3	Meet with Vietnamese food processor Meet with meat processor Attend Canada Beef retail promotion Attend Canada Beef networking event
June 4	Meet with key Vietnamese investors in consumer-packaged food products Travel to Manila, Philippines
June 5	Meet with Embassy of Canada to Philippines and Canada’s Indo-Pacific Agriculture and Agri-Food Office Meet with Philippines national feed millers’ organization Meet with Philippine leading fast-food investor Meet with a leading provider of animal nutrition in Southeast Asia Meet with Philippine investor in meat processing and ready to eat meals
June 6	Meet with Philippine food manufacturer and distributor Meet with Philippine food and beverage company Attend an Alberta profiling event with Philippine food influencers and writers Meet with a Philippine leading food and beverage company
June 7	Supermarket tour of Albertan and Canadian products Attend Alberta-beef focused promotional event
June 8	Travel back to Alberta

*Subject to change.

MIL OSI Canada News –

May 30, 2025

Category: Canada

Joint Statement of the Multilateral Sanctions Monitoring Team (MSMT) on the first report covering DPRK-Russia military cooperation

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Itinerary for Minister Sigurdson