NewzIntel.com

Category: Canada

  • MIL-OSI: Ninepoint Partners Announces Estimated May 2025 Cash Distributions for Ninepoint Cash Management Fund – ETF Series

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, May 23, 2025 (GLOBE NEWSWIRE) — Ninepoint Partners LP (“Ninepoint Partners”) today announced the estimated May 2025 cash distribution for the ETF Series of Ninepoint Cash Management Fund (the “Fund”). Ninepoint Partners expects to issue a press release on or about May 29, 2025, which will provide the final distribution rate. The record date for the cash distribution is May 30, 2025, payable on June 6, 2025.

    All estimates in this document are based on the accounting data as of May 22, 2025. Due to subscriptions and/or redemptions and/or other factors, the final May 2025 distribution may differ from these estimates and the difference could be material. The information included in this letter is for reference purposes only. Please reconcile all information against your official client statements. This is not intended to be a statement for official tax reporting purposes or any form of tax advice.

    The actual taxable amounts of distributions for 2025, including the tax characteristics of the distributions, will be reported to CDS Clearing and Depository Services Inc. in early 2026. Securityholders can contact their brokerage firm for this information.

    The per-unit estimated May 2025 distribution is detailed below:

    Ninepoint ETF Series Ticker   Cash Distribution per
    unit    		   Notional Distribution
    per unit    		 CUSIP
    Ninepoint Cash Management Fund NSAV   $0.11822   $0.00000 65443X105

    About Ninepoint Partners

    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 Partners LP, please visit www.ninepoint.com or for inquiries regarding the offering, please contact us at (416) 943-6707 or (866) 299-9906 or invest@ninepoint.com.

    Ninepoint Partners LP is the investment manager to the Ninepoint Funds (collectively, the “Funds”). Commissions, trailing commissions, management fees, performance fees (if any), and other expenses all may be associated with investing in the Funds. Please read the prospectus carefully before investing. The information contained herein does not constitute an offer or solicitation by anyone in the United States or in any other jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation. Prospective investors who are not resident in Canada should contact their financial advisor to determine whether securities of the Fund may be lawfully sold in their jurisdiction.

    Please note that distribution factors (breakdown between income, capital gains and return of capital) can only be calculated when a fund has reached its year-end. Distribution information should not be relied upon for income tax reporting purposes as this is only a component of total distributions for the year. For accurate distribution amounts for the purpose of filing an income tax return, please refer to the appropriate T3/T5 slips for that particular taxation year. Please refer to the prospectus or offering memorandum of each Fund for details of the Fund’s distribution policy.

    The payment of distributions and distribution breakdown, if applicable, is not guaranteed and may fluctuate. The payment of distributions should not be confused with a Fund’s performance, rate of return, or yield. If distributions paid by the Fund are greater than the performance of the Fund, then an investor’s original investment will shrink. Distributions paid as a result of capital gains realized by a Fund and income and dividends earned by a Fund are taxable in the year they are paid. An investor’s adjusted cost base will be reduced by the amount of any returns of capital. If an investor’s adjusted cost base goes below zero, then capital gains tax will have to be paid on the amount below zero.

    Sales Inquiries:

    Ninepoint Partners LP
    Neil Ross
    416-945-6227
    nross@ninepoint.com 

    The MIL Network –

  • MIL-OSI Canada: Prime Minister Carney speaks with Prime Minister of Norway Jonas Gahr Støre

    Source: Government of Canada – Prime Minister

    Today, the Prime Minister, Mark Carney, spoke with the Prime Minister of Norway, Jonas Gahr Støre.

    Prime Minister Støre congratulated Prime Minister Carney on his election. The prime ministers discussed deepening trade, commercial, and defence partnerships, including on transatlantic and Arctic security. They also reaffirmed their support for a just and lasting peace in Ukraine that respects its sovereignty and territorial integrity.

    The leaders agreed to remain in close contact.

    Associated Link

    MIL OSI Canada News –

  • MIL-OSI Economics: Members consider China’s request for panel to examine Canadian surtax measures

    Source: World Trade Organization

    The DSB Chair, Ambassador Clare Kelly (New Zealand), announced at the start of the meeting that Canada’s request for a panel in DS636, “China — Additional Import Duties on Certain Agricultural and Fishery Products from Canada”, had been removed from the agenda at the request of Canada.

    DS627: Canada — Measures on Certain Products of Chinese Origin

    China submitted its first request for the establishment of a dispute panel with respect to the surtax measures imposed by Canada on certain products of Chinese origin, including electric vehicles and steel and aluminium products. The request also cites Canada’s alleged decision to impose measures on certain solar products, critical minerals, semiconductors, permanent magnets and natural graphite imported from China. China also cited in its panel request any other Canadian surtax measures on products or materials that originate in China.

    China and Canada held consultations in April 2025 but failed to resolve the dispute, China said, prompting its request for the panel. China said the measures are in direct breach of Canada’s WTO obligations. China said it remains open to working with Canada to resolve the dispute amicably in accordance with WTO rules.

    Canada said it engaged with China in a constructive manner during the consultations. It is unfortunate that China has included in its panel request claims related to certain solar products, critical minerals, semiconductors, permanent magnets and natural graphite imported from China, Canada said, noting that there are no Canadian surtax measures on these products.

    Canada said its surtax measures on electric vehicles, steel and aluminium products are justified under the General Agreement on Tariffs and Trade and that it was fully prepared to defend these measures. In light of this, Canada said it is not ready to accept the establishment of a panel. Canada remains committed to maintaining constructive dialogue with China and to the rules-based multilateral trading system, it added.

    The DSB took note of the statements and agreed to revert to the matter if requested by a member.

    Appellate Body appointments

    Colombia, speaking on behalf of 130 members, introduced for the 87th time the group’s proposal to start the selection processes for filling vacancies on the Appellate Body. The extensive number of members submitting the proposal reflects a common interest in the functioning of the Appellate Body and, more generally, in the functioning of the WTO’s dispute settlement system, Colombia said.

    The United States said it does not support the proposal and noted its longstanding concerns with WTO dispute settlement that have persisted across US administrations. The US cited as an example its concern over rulings containing interpretations deviating from the text of WTO agreements and creating precedents. It emphasized that the dispute settlement system was intended to resolve specific disputes rather than create new rules for members. The US reiterated that fundamental reform of WTO dispute settlement is needed and that it will reflect on the extent to which it is possible to achieve such a reformed WTO dispute settlement system.

    More than 20 members took the floor to comment, one speaking on behalf of a group of members. Several members urged others to consider joining the Multi-party interim appeal arrangement (MPIA), a contingent measure to safeguard the right to appeal in the absence of a functioning Appellate Body. A number welcomed the decision of Malaysia and Paraguay to join the MPIA.

    Colombia, on behalf of the 130 members, said it regretted that for the 87th occasion members have not been able to launch the selection processes. Ongoing conversations about reform of the dispute settlement system should not prevent the Appellate Body from continuing to operate fully, and members shall comply with their obligation under the Dispute Settlement Understanding to fill the vacancies as they arise, Colombia said for the group.

    Dispute settlement reform

    The DSB Chair said that, as members would recall from the last General Council (GC) meeting on 20-21 May, the GC Chair Ambassador Saqer Abdullah Almoqbel (Kingdom of Saudi Arabia) had informed members about his intention to consult with interested delegations on advancing work in three key areas, including dispute settlement reform. The consultations are now ongoing, the DSB Chair said.

    Surveillance of implementation

    The United States presented status reports with regard to DS184, “US — Anti-Dumping Measures on Certain Hot-Rolled Steel Products from Japan”,  DS160, “United States — Section 110(5) of US Copyright Act”, DS464, “United States — Anti-Dumping and Countervailing Measures on Large Residential Washers from Korea”, and DS471, “United States — Certain Methodologies and their Application to Anti-Dumping Proceedings Involving China.”

    The European Union presented a status report with regard to DS291, “EC — Measures Affecting the Approval and Marketing of Biotech Products.”

    Indonesia presented its status reports in DS477 and DS478, “Indonesia — Importation of Horticultural Products, Animals and Animal Products.” 

    Next meeting

    The next regular DSB meeting will take place on 23 June 2025.

    Share

    MIL OSI Economics –

  • MIL-OSI USA: ICE investigation leads to indictment of 8 individuals with ties to China in transnational elder fraud scheme

    Source: US Immigration and Customs Enforcement

    PROVIDENCE, R.I. — A federal indictment returned in U.S. District Court in Providence charges eight individuals for their roles in orchestrating and executing an elaborate transnational fraud and money laundering scheme targeting elderly citizens in the United States and Canada.

    The U.S. Immigration and Customs Enforcement-led investigation identified approximately 300 individuals in at least 37 states who have been defrauded. At this time, victims are estimated to have suffered known losses exceeding $5 million. However, investigators have identified a bank account through which approximately $16 million in additional suspected fraud funds appear to have been laundered.

    According to the charging documents, members of the conspiracy sent pop-up messages to seniors’ computers, often styled to appear as if they were originating from a well-known technology company. The messages contained various false claims, including that that the victims’ financial accounts had been compromised, that their computers had been hacked, or that the victims had been identified as the target of a criminal investigation.

    The pop-up message contained information that directed victims to call a “live agent,” who informed the victims that their financial assets were at risk or could be garnished, but the agent could assist in protecting their assets. During a series of calls, victims were connected with others who falsely claimed to be “representatives” of the victim’s financial institutions or government agencies, including the Federal Trade Commission and Federal Reserve Bank. Those “representatives” were, in fact, members of the conspiracy.

    During these calls, some victims were instructed that, in order to protect their assets, they should initiate a transfer of their funds from their accounts via wire transfers and cryptocurrency transfers to accounts controlled by agencies the scammers purportedly represented. Other victims were told to withdraw their funds in cash, purchase gold bars and turn them over to a purported government courier who would come to their home for transfer to a secure government location. Still others were told to simply turn the cash over to a courier for safe keeping by the government.

    The indictment charges:

    • Nanjun Song 27, of Brooklyn, New York, a Chinese national who has allegedly overstayed a B2 visa, with conspiracy to commit wire fraud and conspiracy to commit money laundering. ICE Homeland Security Investigations Las Vegas arrested the defendant. He is detained in federal custody in Rhode Island.
    • Jirui Liu, 23, of Scarborough, Ontario, Canada, a citizen of China and Canada, whose U.S. visa has expired, with conspiracy to commit wire fraud and conspiracy to commit money laundering. HSI Providence arrested the defendant with assistance from the Connecticut State Police and Narragansett Police Department. He is detained in federal custody in Rhode Island.
    • Xiang Li, 37, of Flushing, New York, a Chinese national and with conspiracy to commit wire fraud and conspiracy to commit money laundering. HSI Providence with HSI New York and the New York City Police Department arrested the defendant. He was detained in New York and is being transferred to Rhode Island.
    • Xuehai Sun, 37, of Flushing New York, a Chinese national, with conspiracy to commit wire fraud. HSI Providence with HSI New York and the NYPD arrested the defendant and he appeared that day in U.S. District Court for the Eastern District of New York.
    • Fangzheng Wang, 24, of Westborough, Massachusetts, a Chinese national, with conspiracy to commit wire fraud. HSI Providence with HSI New England arrested the defendant and he is detained in federal custody in Rhode Island.
    • Cynthia Jia Sun, 25, of Houston, Texas, with conspiracy to commit wire fraud. HSI Houston with the Texas Department of Public Safety and is in federal custody in Houston arrested the defendant. She is awaiting transfer to Rhode Island.
    • Zhenyang Xin, 25, of Hamilton, Ontario, Canada, a Chinese national, with conspiracy to commit wire fraud. An arrest warrant has been issued for the defendant.
    • Wing Kit Ho, 22, of Markham, Ontario, Canada, a Canadian citizen born in Hong Kong, with conspiracy to commit wire fraud. An arrest warrant has been issued for the defendant.

    A federal indictment is merely an accusation. A defendant is presumed innocent unless and until proven guilty.

    HSI Providence and the Internal Revenue Service – Criminal Investigation led the investigation with assistance from and HSI New England, HSI New York, HSI Houston, and HSI Los Angeles, the Narragansett Police Department, East Providence Police Department, Texas Department of Public Safety, New York Police Department, Connecticut State Police. The United States Attorney’s Offices in the Eastern District of New York and Southern District of Texas provided valuable assistance.

    This investigation is an initiative of the Rhode Island Homeland Security Task Force, a multiagency task force focused on intelligence-driven, multi-jurisdictional operations to disrupt and dismantle the most significant drug traffickers, money launderers, gangs and transnational criminal organizations.

    MIL OSI USA News –

  • MIL-OSI: Ninepoint Partners Announces May 2025 Cash Distributions for ETF Series Securities

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, May 23, 2025 (GLOBE NEWSWIRE) — Ninepoint Partners LP (“Ninepoint Partners”) today announced the May 2025 cash distributions for its ETF Series securities. The record date for the distributions is May 30, 2025. All distributions are payable on June 6, 2025.

    The per-unit May 2025 distributions are detailed below:


    About Ninepoint Partners

    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 Partners LP, please visit www.ninepoint.com or for inquiries regarding the offering, please contact us at (416) 943-6707 or (866) 299-9906 or invest@ninepoint.com.

    Ninepoint Partners LP is the investment manager to the Ninepoint Funds (collectively, the “Funds”). Commissions, trailing commissions, management fees, performance fees (if any), and other expenses all may be associated with investing in the Funds. Please read the prospectus carefully before investing. The information contained herein does not constitute an offer or solicitation by anyone in the United States or in any other jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation. Prospective investors who are not resident in Canada should contact their financial advisor to determine whether securities of the Fund may be lawfully sold in their jurisdiction.

    Please note that distribution factors (breakdown between income, capital gains and return of capital) can only be calculated when a fund has reached its year-end. Distribution information should not be relied upon for income tax reporting purposes as this is only a component of total distributions for the year. For accurate distribution amounts for the purpose of filing an income tax return, please refer to the appropriate T3/T5 slips for that particular taxation year. Please refer to the prospectus or offering memorandum of each Fund for details of the Fund’s distribution policy.

    The payment of distributions and distribution breakdown, if applicable, is not guaranteed and may fluctuate. The payment of distributions should not be confused with a Fund’s performance, rate of return, or yield. If distributions paid by the Fund are greater than the performance of the Fund, then an investor’s original investment will shrink. Distributions paid as a result of capital gains realized by a Fund and income and dividends earned by a Fund are taxable in the year they are paid. An investor’s adjusted cost base will be reduced by the amount of any returns of capital. If an investor’s adjusted cost base goes below zero, then capital gains tax will have to be paid on the amount below zero.

    Sales Inquiries:

    Ninepoint Partners LP
    Neil Ross
    416-945-6227
    nross@ninepoint.com

    The MIL Network –

  • MIL-OSI Canada: Fort St. James hospital name reflects First Nations heritage

    Source: Government of Canada regional news

    The new hospital in Fort St. James is now called Nats’oojeh [Nat-Soo-Jay] Hospital and Health Centre, reflecting the Dakelh First Nations heritage.

    The name was chosen in consultation with the guidance of Elders and language experts from the Nak’azdli, Binche, Tl’azt’en, Yekooche and Takla First Nations. Nats’oojeh means “everyone healing” in the Dakelh language. The larger meaning is healing through medicine, holistic care, looking after loved ones and helping each other.

    Dakelh First Nations were engaged throughout the design process to help ensure the hospital is welcoming and reflective of their cultures and health practices. This includes a spiritual space, smudging area, healing garden, traditional plants and medicines. The building has theme and design elements such as nature and the changing seasons, Indigenous art, and signage in Dakelh, including written words and syllabics.

    “Nats’oojeh Hospital and Health Centre is more than just a building, it’s a place where community, culture and care come together under one roof,” said Josie Osborne, Minister of Health. “I’m grateful to the Elders and experts who have guided the process of selecting a name for this facility that reflects the values of the community it serves.”

    The new facility, which opened Jan. 14, 2025, is three times the size of the previous hospital. It has 27 beds, including 18 long-term-care and nine acute-care beds, and an expanded emergency department with two treatment rooms, a trauma bay and an ambulance bay. Additionally, there is a bigger laboratory and diagnostic imaging spaces.

    “The Nats’oojeh Hospital and Health Centre represents a strong foundation for health and healing in Fort St. James and surrounding communities,” said Bowinn Ma, Minister of Infrastructure. “Its new name, chosen in consultation with local First Nations, reflects a deep spirit of collaboration and care — bringing together traditional knowledge, cultural respect and modern infrastructure to support a healthier future for everyone.”

    The previous hospital opened in 1972 and was outdated in terms of space, size, functionality and technology. It had 12 beds and no decontamination room or dedicated area to receive, assess or triage patients in the emergency department. The facility also had only two treatment bays, one trauma room and no ambulance bay.

    “Nats’oojeh Hospital and Health Centre is a powerful expression of what’s possible when we work together with Indigenous partners. This facility is more than a new hospital; it’s a place of healing, connection and cultural safety,” said Colleen Nyce, chair, Northern Health. “The name Nats’oojeh reflects the spirit of collaboration and respect that guided this project from the beginning, and we are honoured to support care that is rooted in community, tradition and wellness.”

    The total capital cost of the project is $158.3 million, including $139.9 million funded by the Province through Northern Health and an $18.4-million contribution from the Stuart-Nechako Regional Hospital District.

    “This major investment reflects a strong commitment to rural health care. The new hospital and health centre will help attract and retain essential medical staff, improve access to quality care, and reduce the need for travel,” said Judy Greenaway, chair, Stuart-Nechako Regional Hospital District. “It’s rewarding to see years of advocacy and planning realized in this beautiful facility. We’re grateful to the Province of B.C. and Northern Health for their support.”

    Demolition of the old hospital began in March 2025.

    MIL OSI Canada News –

  • MIL-OSI Canada: Promoting Alberta on the world stage

    Source: Government of Canada regional news (2)

    MIL OSI Canada News –

  • MIL-OSI USA: Cramer Travels to Ottawa with Bipartisan Delegation, Visits Canadian Leadership

    US Senate News:

    Source: United States Senator Kevin Cramer (R-ND)

    ***Click here for media resources.***

    OTTAWA, CANADA – U.S. Senator Kevin Cramer (R-ND), co-chair of the Canada-United States Interparliamentary Group and the Senate American Canadian Economy and Security (ACES) Caucus, joined a bipartisan group of senators in traveling to Ottawa this week to reaffirm and strengthen the partnership between the two countries. Canada and the United States share a unique relationship. The two countries have fostered one of the most significant bilateral trading relationships in the world, one characterized by their close economic and national security ties.

    The delegation met with Prime Minister Mark Carney, Foreign Minister Anita Anand, U.S. Ambassador to Canada Pete Hoekstra, Canada’s Minister of Industry Mélanie Joly, and representatives from industry and business groups. The overarching theme of the trip centered on advancing mutual priorities such as defense and security cooperation through the North Atlantic Treaty Organization (NATO), Arctic readiness, cross-border economic integration, addressing trade disruptions, and coordinated responses to global challenges.

    “The United States and Canada share more than a border,” said Cramer.“From national security to commerce, we have both interests and challenges in common, working through them with open, frank dialogue. It was an honor to join my colleagues as part of this delegation to Ottawa. I was encouraged by the meetings, and the Prime Minister’s transparent and thoughtful words were smart and instructive. I look forward to working with our friends, business partners, and neighbors in Canada to strengthen our relationship and address mutual issues facing our great countries.”

    While in Ottawa, Cramer visited with Ambassador Hoekstra about establishing a relationship focused on fostering fair trade. More than half of North Dakota’s exports are directed toward Canada. In 2024 alone, North Dakota exported $3.9 billion in goods to Canada, representing 70% of the state’s global exports. As former State Tourism and Economic Development Director in North Dakota, Cramer brought that perspective to additional discussions about the declines northern border states are experiencing in trade and tourism and emphasized the need to find a solution benefitting both nations.

    The visit included a lunch with Canadian Foreign Minister Anand and a meeting with Canada’s Minister of Industry Mélanie Joly. Discussions included updates on further safeguards for the military readiness of NATO, and a review of the member states agreement in 2014 to commit two percent of their national gross domestic product (GDP) to defense spending. However, Canada only allocated 1.37% of its GDP to defense in 2024, prompting Cramer and his colleagues to send a letter to then-Secretary of Defense Lloyd Austin, asking him to examine whether a member of the NATO “has achieved defense spending of not less than 2 percent of its gross domestic product” when considering U.S. investments.

    In addition to meeting with government officials, Cramer and colleagues participated in a roundtable with the Business Council of Canada, American Chamber of Commerce, and other leading Canadian companies.

    Cramer was recently appointed co-chair of the Canada-United States Interparliamentary Group and introduced a bipartisan resolution with fellow ACES co-chair U.S. Senator Angus King (I-ME). The resolution recognizes the U.S.-Canada partnership and its shared interests in economic, energy and critical minerals, and national security. Among other provisions, it reaffirms the bilateral and international alliance between the two countries, which allows both countries to face common threats together and uphold common values, including democracy, human rights, and the rule of law.

    MIL OSI USA News –

  • MIL-OSI USA: Klobuchar Meets With Canadian Prime Minister Carney Regarding Trade

    US Senate News:

    Source: United States Senator Amy Klobuchar (D-Minn)
    Senator Part of First Bipartisan Delegation to Meet with a Canadian Prime Minister in Canada in Five Years   
    Canadian Prime Minister and Klobuchar also talked ongoing women’s pro hockey finals with Minnesota Frost and Ottawa Charge tied in series 
    MINNESOTA— Today, U.S. Senator Amy Klobuchar met with newly elected Canadian Prime Minister Mark Carney in Ottawa to discuss rebuilding trade relations with Canada. This meeting came at a critical time in response to the ongoing tariff issues between the two countries since Donald Trump assessed tariffs on Canada and other nations Klobuchar was one of a bipartisan group of five U.S. senators, and the first group of lawmakers to meet with a prime minister in Canada in five years.
    Joining Klobuchar were Senators Jeanne Shaheen, Tim Kaine, Kevin Cramer, and Peter Welch.
    Senator Klobuchar is Co-Chair of the Canada-U.S. Inter-Parliamentary Group along with Republican Senator Cramer of North Dakota.  
    “Canada is Minnesota’s neighbor, top trading partner and close friend. We share a deep bond grounded in trust and a shared commitment to democracy,” said Klobuchar. “I also made clear there is bipartisan commitment to restoring stability, credibility, and sanity to our trade policy with Canada.”
    In addition to discussing tariffs, Klobuchar also commended the Prime Minister for his decision to spend an hour with the bipartisan delegation and focus on issues ranging from tourism to energy policy.
    When discussing the ongoing women’s pro hockey finals between the Minnesota Frost and the Ottawa Charge, she noted to Prime Minister Carney that diplomacy can only go so far: “Go Minnesota Frost,” she said. 
    Klobuchar and her colleagues also met with Foreign Minister Anita Anand, Minister of National Defense David McGuinty, Minister of Industry Mélanie Joly, the Business Council of Canada, and other leading Canadian companies and business groups. 
    This week, Klobuchar joined Cramer and Kaine in introducing a bipartisan resolution to recognize the U.S.-Canada partnership and its shared interests in economic, energy and critical minerals, and national security.
    In April, Klobuchar’s bipartisan resolution with Kaine and Senator Mark Warner (D-VA) to reverse President Trump’s across-the-board tariffs on Canadian goods passed the Senate. 
    Photos available HERE.

    MIL OSI USA News –

  • MIL-OSI United Kingdom: Heads of G7 Export Credit Agencies – Meeting Communiqué – 2025

    Source: United Kingdom – Government Statements

    News story

    Heads of G7 Export Credit Agencies – Meeting Communiqué – 2025

    The meeting of the heads of G7 Export Credit Agencies met in London, United Kingdom to discuss international trade.

    The leaders of official export credit agencies (ECAs) of the G7 nations (Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States of America) met in London on 19-20 May, hosted by UK Export Finance, to discuss recent business trends and challenges.

    Serving national customers was at the heart of the meeting. Discussions took place on strengthening supply chains with a focus on critical and raw materials, enhancing domestic support programmes, and adapting to evolving economic and policy landscapes.

    The group also talked about the evolving ECA landscape, the challenges arising from increasing overlap of trade and development, the increasing need to focus on support in emerging markets and mobilise private finance.

    There was a constructive discussion on G7 ECA business under the Arrangement on Officially Supported Export Credits and the Group recognised the need to maintain the level playing field; transparency, relevancy and energy were key issues explored.

    We discussed how best to leverage digital innovation to improve efficiency and better meet customers’ needs. There was agreement that there is a need for investment in AI and digitalisation in order to keep pace with business.

    Acknowledging that we are operating in shifting political times, we agreed that our strength lies in our collaboration. By working together, sharing risks, and trying to resolve challenges together, we can enhance our resilience as ECAs and expand our global outreach, and in doing so we will help support economic growth and stability at home.

    A parallel Growing Professionals programme, now in its fourth year, explored practical innovations in export finance. The initiative brought together seven Growing Professionals from each organisation and aims to foster the next generation of international trade professionals.

    The next meeting is scheduled to be held in Spring 2026 and hosted by US EXIM in Washington.

    Agreed by the Heads of the G7 ECAs/Guardian Authorities.

    Atsuo Kuroda (NEXI, Japan), Bastian Kern (Export Credit Guarantees Germany), Tim Reid (UKEF), Alison Nankivell (EDC, Canada), Armel Castets (Export Finance and Trade Promotion Division, France), James C. Cruse (US EXIM), Paola Valerio (SACE, Italy).

    Updates to this page

    Published 23 May 2025

    MIL OSI United Kingdom –

  • MIL-OSI Security: U.S. Attorney’s Office Secures Guilty Verdict in Nigerian Romance Scheme

    Source: US FBI

    ALBUQUERQUE – Following a four-day trial and less than three hours of deliberation, a federal jury returned a guilty verdict against two Nigerian nationals who participated in an international romance scheme.

    According to court documents and evidence presented at trial, the scheme, which began in January 2016, involved the creation of a fictitious persona named “Glenn Brown” on the dating website eHarmony.com. Olutayo Sunday Ogunlaja, 39, and Abel Adeyi Daramola, 37, both Nigerian nationals, worked with another individual who used this fake profile to initiate a romantic relationship with a victim in Albuquerque, New Mexico and subsequently request money from them. Throughout the course of the fraud, the victim was led to believe that their financial assistance was necessary for “Glenn Brown” to complete a purported construction project in Malaysia and return safely to the United States.

    The victim sent approximately $560,000 to various accounts in the United States, Canada, and Malaysia between January 2016 and April 2017. On September 27, 2016, the victim wired approximately $28,000 to a Woodforest Bank account in the name of Daramola Cars, as instructed by the fraudulent “Glenn Brown” persona. Daramola subsequently wired $18,000 to a seafood importer in Denmark and issued a check for $14,000.

    Daramola denied any knowledge of the romance scheme, however the FBI’s investigation uncovered extensive evidence, including text and WhatsApp correspondence on Daramola‘s phone, revealing his role as a provider of bank accounts for various fraud schemes including romance fraud schemes.

    Ogunlaja‘s involvement included using his Bank of America account for receiving fraudulent funds. Specifically, on March 9 and March 15, 2016, “Glenn Brown” instructed the victim to deposit $20,000 cash into Ogunlaja‘s account. Following these deposits, Ogunlaja made multiple cash withdrawals and transfers to Daramola’s account.

    Following the verdict, the Court ordered that Ogunlaja and Daramola remain on conditions of release pending sentencing, which has not been scheduled. At sentencing, Ogunlaja and Daramola each face up to 20 years in prison.

    There is no parole in the federal system.

    U.S. Attorney Alexander M.M. Uballez and Raul Bujanda, Special Agent in Charge of the FBI Albuquerque Field Office, made the announcement today.

    The FBI Albuquerque Field Office investigated this case. Assistant U.S. Attorney Jeremy Peña is prosecuting the case.

    # # #

    MIL Security OSI –

  • MIL-OSI Security: Canadian Man Charged in Scheme to Commit Cyberattacks

    Source: US FBI

    ANCHORAGE – A federal indictment unsealed today charges a Canadian national with committing cyberattacks.

    According to court documents, Matthew Philbert, 31, of Ottawa, Ontario, Canada, conspired with others known and unknown to the United States to damage computers, and in the course of that conspiracy did damage a computer belonging to the State of Alaska in April 2018.

    In a separate and parallel investigation, the Canadian authorities today also announced cybercrime charges against Philbert. He was arrested on Nov 30, 2021, by Ontario Provincial Police where he remains in custody.

    “Today’s unsealed indictment is a great example of the importance of international partnerships to combat the evolving and growing threat of cybercrimes,” said Acting U.S. Attorney Bryan Wilson of the District of Alaska. “Cybercriminals are a dangerous threat and together with our law enforcement partners, we will use all our available resources to bring cybercriminals who target Alaskans to justice, wherever they are.”

    “Cyber criminals are opportunistic and will target any business or individual they identify as vulnerable. The OPP continues to demonstrate its ability to seamlessly collaborate on integrated police investigations to combat cybercrimes and other illegal activities.” Deputy Commissioner Chuck Cox, Provincial Commander, Ontario Provincial Police (OPP) Investigations and Organized Crime

    Philbert is charged with one count of conspiracy to commit fraud and related activity in connection with computers and one count of fraud and related activity in connection with computers. This indictment in the District of Alaska is part of an ongoing national effort by the Department of Justice to address cybercrimes that target U.S. citizens from abroad.

    Assistant Attorney General Kenneth A. Polite Jr. of the Justice Department’s Criminal Division, Acting U.S. Attorney Bryan Wilson of the District of Alaska, and Special Agent in Charge Antony Jung of the FBI’s Anchorage Field Office made the announcement.

    The FBI’s Anchorage Field Office is investigating the case. Assistant Attorney General Polite and Acting U.S. Attorney Wilson thanked the Canadian and Dutch authorities for their assistance.

    Assistant U.S. Attorney Adam Alexander and Trial Attorney Alden Pelker of the Criminal Division’s Computer Crime and Intellectual Property Section (CCIPS) are prosecuting the case.

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

    ###

    MIL Security OSI –

  • MIL-OSI USA: NASA Supports Artemis Accords Signatories Advancing Exploration

    Source: NASA

    The United States participated in an international Artemis Accords workshop May 21-22 to advance the safe and responsible exploration of the Moon, Mars, and beyond. Hosted by the United Arab Emirates (UAE), which was represented by the UAE Space Agency, the workshop took place at the Abu Dhabi National Exhibition Centre.
    The Artemis Accords are a set of non-binding principles signed by nations for a peaceful and prosperous future in space for all of humanity to enjoy. In October 2020, under the first Trump administration, the accords were created, and since then, 54 countries have joined with the United States in committing to transparent and responsible behavior in space.
    “Following President Trump’s visit to the Middle East, the United States built upon the successful trip through engagement with a global coalition of nations to further implement the accords – practical guidelines for ensuring transparency, peaceful cooperation, and shared prosperity in space exploration,” said acting NASA Administrator Janet Petro. “These accords represent a vital step toward uniting the world in the pursuit of exploration and scientific discovery beyond Earth. NASA is proud to lead in the overall accords effort, advancing the principles as we push the boundaries of human presence in space – for the benefit of all.”
    Participants from 30 countries joined the discussions and a tabletop exercise centered on defining challenges for operating in a complex environment.
    As the Artemis Accords workshop concluded Thursday, participants reaffirmed their commitment to upholding the principles outlined in the accords and to continue identifying best practices and guidelines for safe and sustainable exploration. The first workshop was hosted by Poland in 2023, followed by Canada in 2024.
    Artemis Accords signatories have committed to sharing information about their activities to the United Nations of Committee on the Peaceful Uses of Outer Space and other appropriate channels. Transparency and communication are key to peaceful exploration.
    The Artemis Accords signatories will gather for face-to-face discussions on the margins of the International Astronautical Congress in late September, where workshop recommendations and outcomes will be presented to the Artemis Accords principals. NASA anticipates additional countries will sign in the coming weeks and months.
    The Artemis Accords are grounded in the Outer Space Treaty and other agreements, including the Registration Convention and the Rescue and Return Agreement, as well as best practices for responsible behavior that NASA and its partners have supported, including the public release of scientific data. 
    Learn more about the Artemis Accords at:
    https://www.nasa.gov/artemis-accords

    MIL OSI USA News –

  • MIL-OSI Security: Coordinated action to take down the most dangerous malware variants

    Source: Eurojust

    This week’s actions follow the largest ever operation against botnets from May 2024, Operation Endgame. This year during Endgame 2.0, the measures targeted the successor groups of malware taken down by the authorities and other relevant variants: Bumblebee, Lactrodectus, Qakbot, DanaBot, HijackLoader, Trickbot, and WarmCookie. As these variants are at the beginning of the cyberattack chain, disrupting them damages the entire ‘cybercrime as a service’ ecosystem. 

    The malware taken down this week is known as ‘initial access malware’. It is used for initial infection, helping cybercriminals to enter victims’ systems unnoticed and load more malware onto their devices, such as ransomware. 

    Due to the global nature of cybercrime, cross-border investigations are key for taking action against disruptive cybercrimes. Since 2024, Eurojust has provided essential support to ensure effective judicial cooperation. Coordination by Eurojust ensured that authorities could exchange information and align their investigative efforts. Europol supported the operation from the outset, providing coordination, operational and analytical support, cryptocurrency tracing, and facilitating the real-time exchange of information between the various partners involved.

    ©BKA, Germany, 2024.

    German, French, Dutch, Danish, British, American and Canadian authorities joined forces from 19 to 22 May to take action against the world’s most dangerous malware variants and the perpetrators behind them. In total 37 suspects were identified and international arrest warrants were obtained against 20 individuals criminally charged. Over 300 servers worldwide were taken down and 650 domains were neutralised. During the action week, EUR 3.5 million in cryptocurrency was seized making the total cryptocurrency seized during Endgame EUR 21.2 million. 

    Operation EndGame will now continue with follow up actions announced on the dedicated website from the international coalition. Several key suspects behind the malware operations are now subject to international and public appeals. The German authorities will publish eighteen of them on the EU Most Wanted list as of 23 May.

    The following authorities carried out the operation:

    • Germany: German Federal Criminal Police Office; Public Prosecutor; General’s Office Frankfurt am Main – Cybercrime Office; German Federal Office for Information Security
    • France: PPO Paris section J3 (Cybercrime Unit); BL2C (Cybercrime unit Préfecture de Police); OFAC (National Office against Cybercriminality)
    • Netherlands: Netherlands Public Prosecution Service (National Office); Netherlands Police
    • Denmark: National Special Crime Unit – NSK; NC3 | High Tech Crime
    • United Kingdom: National Crime Agency
    • United States: Federal Bureau of Investigation (FBI); U.S Department of Justice’s Computer Crime and Intellectual Property Section; U.S. Attorney’s Office for the Central District of California
    • Canada: Royal Canadian Mounted Police (RCMP)

    MIL Security OSI –

  • MIL-OSI: Abaxx Singapore Achieves ISO/IEC 27001:2022 Certification for Information Security Management

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, May 23, 2025 (GLOBE NEWSWIRE) — Abaxx Technologies Inc. (CBOE:ABXX)(OTCQX:ABXXF) (“Abaxx” or the “Company”), a financial software and market infrastructure company, majority shareholder of Abaxx Singapore Pte. Ltd. (“Abaxx Singapore”), the owner of Abaxx Commodity Exchange and Clearinghouse (individually, “Abaxx Exchange” and “Abaxx Clearing”), and producer of the SmarterMarkets™ Podcast, today announced that Abaxx Singapore has achieved ISO/IEC 27001:2022 certification for its Information Security Management System (ISMS). The certification confirms that Abaxx Singapore’s exchange and clearing infrastructure meets internationally recognized standards for securing data, managing risk, and supporting operational resilience.

    The certification was awarded by Prescient Security, an independent global cybersecurity firm specializing in information security audits, compliance assessments, and penetration testing. ISO/IEC 27001:2022 is the global standard for information security management systems (ISMS), providing a framework for managing data security risks across people, processes, and technology. It is jointly published by the International Organization for Standardization (ISO) and the International Electrotechnical Commission (IEC).

    As part of the certification process, Abaxx Singapore underwent a comprehensive audit of its IT systems, risk management protocols, and governance controls. The review confirmed alignment with global best practices for establishing, maintaining, and continually improving information security management frameworks.

    “Achieving ISO/IEC 27001:2022 certification demonstrates that our exchange and clearing infrastructure aligns with the highest global standards for information security,” said Nancy Seah, CEO of Abaxx Exchange. “For market participants, it provides assurance that the systems supporting trade execution, clearing, and data protection are built on a secure and resilient foundation. It also supports onboarding and ongoing operations with global institutions that require independently audited controls for risk, compliance, and business continuity.”

    About Abaxx Technologies
    Abaxx Technologies is building Smarter Markets: markets empowered by better tools, better benchmarks, and better technology to drive market-based solutions to the biggest challenges we face as a society, including the energy transition.

    In addition to developing and deploying financial technologies that make communication, trade, and transactions easier and more secure, Abaxx is the indirect majority shareholder of Abaxx Singapore Pte. Ltd., the owner of Abaxx Exchange and Abaxx Clearing, and the parent company of wholly owned subsidiary Abaxx Spot Pte. Ltd., the operator of Abaxx Spot.

    Abaxx Exchange delivers the market infrastructure critical to the shift toward an electrified, low-carbon economy through centrally-cleared, physically-deliverable futures contracts in LNG, carbon, battery materials, and precious metals, meeting the commercial needs of today’s commodity markets and establishing the next generation of global benchmarks.

    For more information, visit abaxx.tech | abaxx.exchange | abaxxspot.com | basecarbon.com | smartermarkets.media

    For more information about this press release, please contact:
    Steve Fray, CFO
    Tel: +1 647 490 1590

    Media and Investor inquiries:
    Abaxx Technologies Inc.
    Investor Relations Team
    Tel: +1 647 490 1590
    E-mail: ir@abaxx.tech

    Cautionary Statement Regarding Forward-Looking Information

    This press release includes certain “forward-looking statements” which do not consist of historical facts. Forward-looking statements include estimates and statements that describe Abaxx’s future plans, objectives, or goals, including words to the effect that Abaxx expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “seeking”, “should”, “intend”, “predict”, “potential”, “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, “continue”, “plan” or the negative of these terms and similar expressions. Since forward-looking statements are based on current expectations and assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Abaxx, Abaxx does not provide any assurance that actual results will meet respective management expectations. Risks, uncertainties, assumptions, and other factors involved with forward- looking information could cause actual events, results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking information.

    Forward-looking information related to Abaxx in this press release includes, but is not limited to: Abaxx’s objectives, goals or future plans; focus on risk management; and development of secure infrastructure. Such factors impacting forward-looking information include, among others: risks relating to the global economic climate; dilution; Abaxx’s limited operating history; future capital needs and uncertainty of additional financing; the competitive nature of the industry; currency exchange risks; the need for Abaxx to manage its planned growth and expansion; the effects of product development and need for continued technology change; protection of proprietary rights; the effect of government regulation and compliance on Abaxx and the industry; acquiring and maintaining regulatory approvals for Abaxx’s products and operations; the ability to list Abaxx’s securities on stock exchanges in a timely fashion or at all; network security risks; the ability of Abaxx to maintain properly working systems; reliance on key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; and volatile securities markets impacting security pricing unrelated to operating performance. In addition, particular factors which could impact future results of the business of Abaxx include but are not limited to: operations in foreign jurisdictions; protection of intellectual property rights; contractual risk; third-party risk; clearinghouse risk; malicious actor risks; third- party software license risk; system failure risk; risk of technological change; dependence of technical infrastructure; changes in the price of commodities; capital market conditions; and restriction on labor and international travel and supply chains in addition to the risk factors identified in the Company’s most recent management discussion and analysis filed on SEDAR+. Abaxx has also assumed that no significant events occur outside of Abaxx’s normal course of business.

    Abaxx cautions that the foregoing list of material factors is not exhaustive. In addition, although Abaxx has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, or intended. When relying on forward- looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Abaxx has assumed that the material factors referred to in the previous paragraphs will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The forward-looking statements and information contained in this press release represents the expectations of Abaxx as of the date of this press release and, accordingly, is subject to change after such date. Abaxx undertakes no obligation to update or revise any forward-looking statements and information, whether as a result of new information, future events or otherwise, except as required by law. Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements and information. Cboe Canada does not accept responsibility for the adequacy or accuracy of this press release.

    The MIL Network –

  • MIL-OSI: Brookfield Corporation Announces Renewal of Normal Course Issuer Bid

    Source: GlobeNewswire (MIL-OSI)

    BROOKFIELD, NEWS, May 23, 2025 (GLOBE NEWSWIRE) — Brookfield Corporation (“Brookfield”) (NYSE: BN, TSX: BN) today announced it has received approval from the Toronto Stock Exchange (“TSX”) for the renewal of its normal course issuer bid to purchase up to 143,027,158 Class A Limited Voting Shares (“Class A Shares”), representing 10% of the public float of Brookfield’s outstanding Class A Shares. Purchases under the bid will be made on the open market through the facilities of the TSX, the New York Stock Exchange (“NYSE”), and/or alternative trading systems. The period of the normal course issuer bid will extend from May 27, 2025 to May 26, 2026, or an earlier date should Brookfield complete its purchases. Brookfield will pay the market price at the time of acquisition for any Class A Shares purchased or such other price as may be permitted.

    As at May 15, 2025, the number of Class A Shares issued and outstanding totaled 1,647,846,059 of which 1,430,271,580 shares represented the public float. In accordance with the rules of the TSX, the maximum daily purchase on the TSX under this bid will be 456,420 Class A Shares, which is 25% of 1,825,680 (the average daily trading volume for Class A Shares on the TSX for the six months ended April 30, 2025).

    Of the 142,988,844 Class A Shares approved for purchase under Brookfield’s prior normal course issuer bid that commenced on May 27, 2024 and will expire on May 26, 2025, Brookfield purchased 22,200,979 Class A Shares as of May 15, 2025; 2,835,555 Class A Shares through open market purchases on the TSX and 19,365,424 Class A Shares through open market purchases on the NYSE. The weighted average price that Brookfield paid per Class A Share acquired under this bid was US$51.20.

    Brookfield is renewing its normal course issuer bid because it believes that, from time to time, the market price of its Class A Shares may not fully reflect the underlying value of its business and its future business prospects. Brookfield believes that, in such circumstances, the outstanding Class A Shares represent an attractive investment for Brookfield, since a portion of its excess cash generated on an annual basis can be invested for an attractive risk adjusted return through the issuer bid. All Class A Shares acquired by Brookfield under this bid will be cancelled and/or purchased by a non-independent trustee pursuant to the terms of Brookfield’s long-term incentive plans.

    Brookfield intends to enter into an automatic share purchase plan on or about the week of June 16, 2025 in relation to the normal course issuer bid. The automatic share purchase plan will allow for the purchase of Class A Shares, subject to certain trading parameters, at times when Brookfield ordinarily would not be active in the market due to its own internal trading black-out period, insider trading rules or otherwise. Outside of these periods, Class A Shares will be repurchased in accordance with management’s discretion and in compliance with applicable law.

    About Brookfield Corporation

    Brookfield Corporation is a leading global investment firm focused on building long-term wealth for institutions and individuals around the world. We have three core businesses: Alternative Asset Management, Wealth Solutions, and our Operating Businesses which are in renewable power, infrastructure, business and industrial services, and real estate.

    We have a track record of delivering 15%+ annualized returns to shareholders for over 30 years, supported by our unrivaled investment and operational experience. Our conservatively managed balance sheet, extensive operational experience, and global sourcing networks allow us to consistently access unique opportunities. At the center of our success is the Brookfield Ecosystem, which is based on the fundamental principle that each group within Brookfield benefits from being part of the broader organization. Brookfield Corporation is publicly traded in New York and Toronto (NYSE: BN, TSX: BN).

    Please note that Brookfield Corporation’s previous audited annual and unaudited quarterly reports have been filed on EDGAR and SEDAR+ and can also be found in the investor section of its website at www.brookfield.com. Hard copies of the annual and quarterly reports can be obtained free of charge upon request.

    For more information, please visit our website at www.bn.brookfield.com or contact:                           

    Media: Investor Relations:
    Kerrie McHugh Katie Battaglia
    Tel: (212) 618-3469 Tel: (416) 359-8544
    Email: kerrie.mchugh@brookfield.com Email: katie.battaglia@brookfield.com


    Forward-Looking Statements

    This news release contains “forward-looking information” within the meaning of Canadian provincial securities laws and “forward-looking statements” within the meaning of the U.S. Securities Act of 1933, the U.S. Securities Exchange Act of 1934, “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and in any applicable Canadian securities regulations (collectively, “forward-looking statements”). Forward- looking statements include statements that are predictive in nature, depend upon or refer to future results, events or conditions, and include, but are not limited to, statements which reflect management’s current estimates, beliefs and assumptions regarding the operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, strategies, capital management and outlook of Brookfield Corporation and its subsidiaries, as well as the outlook for North American and international economies for the current fiscal year and subsequent periods, and which in turn are based on our experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. The estimates, beliefs and assumptions of Brookfield Corporation are inherently subject to significant business, economic, competitive and other uncertainties and contingencies regarding future events and as such, are subject to change. Forward-looking statements are typically identified by words such as “expect,” “anticipate,” “believe,” “foresee,” “could,” “estimate,” “goal,” “intend,” “plan,” “seek,” “strive,” “will,” “may” and “should” and similar expressions. In particular, the forward-looking statements contained in this news release include statements referring to the impact of current market or economic conditions on our business, the future state of the economy or the securities market, the anticipated allocation and deployment of our capital, our fundraising targets, and our target growth objectives.

    Although Brookfield Corporation believes that such forward-looking statements are based upon reasonable estimates, beliefs and assumptions, actual results may differ materially from the forward-looking statements. Factors that could cause actual results to differ materially from those contemplated or implied by forward-looking statements include, but are not limited to: (i) returns that are lower than target; (ii) the impact or unanticipated impact of general economic, political and market factors in the countries in which we do business; (iii) the behavior of financial markets, including fluctuations in interest and foreign exchange rates and heightened inflationary pressures; (iv) global equity and capital markets and the availability of equity and debt financing and refinancing within these markets; (v) strategic actions including acquisitions and dispositions; the ability to complete and effectively integrate acquisitions into existing operations and the ability to attain expected benefits; (vi) changes in accounting policies and methods used to report financial condition (including uncertainties associated with critical accounting assumptions and estimates); (vii) the ability to appropriately manage human capital; (viii) the effect of applying future accounting changes; (ix) business competition; (x) operational and reputational risks; (xi) technological change; (xii) changes in government regulation and legislation within the countries in which we operate; (xiii) governmental investigations and sanctions; (xiv) litigation; (xv) changes in tax laws; (xvi) ability to collect amounts owed; (xvii) catastrophic events, such as earthquakes, hurricanes and epidemics/pandemics; (xviii) the possible impact of international conflicts and other developments including terrorist acts and cyberterrorism; (xix) the introduction, withdrawal, success and timing of business initiatives and strategies; (xx) the failure of effective disclosure controls and procedures and internal controls over financial reporting and other risks; (xxi) health, safety and environmental risks; (xxii) the maintenance of adequate insurance coverage; (xxiii) the existence of information barriers between certain businesses within our asset management operations; (xxiv) risks specific to our business segments including asset management, wealth solutions, renewable power and transition, infrastructure, private equity, real estate and corporate activities; and (xxv) factors detailed from time to time in our documents filed with the securities regulators in Canada and the United States.

    We caution that the foregoing list of important factors that may affect future results is not exhaustive and other factors could also adversely affect future results. Readers are urged to consider these risks, as well as other uncertainties, factors and assumptions carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements, which are based only on information available to us as of the date of this news release or such other date specified herein. Except as required by law, Brookfield Corporation undertakes no obligation to publicly update or revise any forward- looking statements, whether written or oral, that may be as a result of new information, future events or otherwise.

    The MIL Network –

  • MIL-OSI United Kingdom: International Day of Solidarity with Political Prisoners in Belarus: Joint Statement to the OSCE, May 2025

    Source: United Kingdom – Executive Government & Departments

    Speech

    International Day of Solidarity with Political Prisoners in Belarus: Joint Statement to the OSCE, May 2025

    UK and 37 other countries call for immediate and unconditional release of political prisoners in Belarus.

    I am delivering this statement on behalf of the following participating States, who are members of the Informal Group of Friends of Democratic Belarus: Belgium, Bulgaria, Canada, Croatia, Czechia, Cyprus, Denmark, Estonia, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Latvia, Lithuania, Luxemburg, Montenegro, the Netherlands, Norway, Portugal, Romania, Slovenia, Spain, Sweden, Ukraine, the United Kingdom, and my own country Poland. 

    The following participating States are also joining this statement: Albania, Austria, Bosnia and Herzegovina, Liechtenstein, Malta, Moldova, North Macedonia, San Marino and Switzerland.  

    Since the death of political prisoner and activist Vitold Ashurak in prison on 21 May 2021, we mark the International Day of Solidarity with Political Prisoners in Belarus annually.  

    Since May 2021, at least seven more political prisoners have died in the regime’s captivity: Mikalai Klimovich, Ales Pushkin, Vadzim Khrasko, Ihar Lednik, Aliaksandr Kulinich, Dmitry Schletgauer and Valiantsin Shtermer. They were unjustly persecuted for their political opinions, and failed to receive adequate medical attention and care. 

    In June last year, a group of 38 participating states invoked the Vienna Human Dimension mechanism and questioned many individual cases related to prisoners’ dignity, access to medication and medical care, to legal counsel of their own choosing, to effective remedies and a fair legal trial, as well as contacts with their families. The Belarus authorities did not bring any meaningful response to these questions nor has Belarus made progress on the recommendations of either the 2020 or 2023 Moscow Mechanism reports. 

    Some of those prisoners have since then been released, after completion of their sentences or through pardons, however the arbitrary detention of citizens for exercising their human rights persists. As of May 15, 2025, VIASNA estimates that there were 1189 political prisoners in Belarus. Many of them have serious health issues, disabilities, are over the age of 60, and are suffering from mental disorders. Many of them are subjected to torture and ill-treatment, including deprivation of necessary medical assistance. The UN Committee against Torture reported that torture in these prisons is systemic, habitual, widespread and deliberate with a pattern of impunity for perpetrators. 

    This is the day to remember them all. A day to reiterate our call for the Belarusian authorities:  

    • to stop repressing individuals for exercising their rights to freedom of expression, to freedom of association and to peaceful assembly;  

    • to release all political prisoners immediately and unconditionally, and to ensure their rehabilitation.  

    This is also the day to express our solidarity with relatives and friends of political prisoners, who are subject to political and administrative repression in Belarus and in exile, as part of a wider brutal crackdown on opposition figures, human rights defenders, civil society representatives, journalists and other media actors, and other citizens who dare voice any opposition or dissent.  

    In the face of this disregard of OSCE principles and commitments by the Belarusian authorities, we will continue to support the Belarusian people’s aspiration for a free, democratic and independent Belarus.

    Updates to this page

    Published 23 May 2025

    MIL OSI United Kingdom –

  • MIL-OSI: AGF Investments Announces May 2025 Cash Distributions for AGF Enhanced U.S. Equity Income Fund, AGF Total Return Bond Fund and AGF Systematic Global Infrastructure ETF

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, May 23, 2025 (GLOBE NEWSWIRE) — AGF Investments Inc. (AGF Investments) (TSX:AGF.B) today announced the May 2025 cash distributions for AGF Enhanced U.S. Equity Income Fund*, AGF Total Return Bond Fund* and AGF Systematic Global Infrastructure ETF, which pay monthly distributions. Unitholders of record on May 30, 2025 will receive cash distributions payable on June 5, 2025.

    Details regarding the final “per unit” distribution amounts are as follows:

    ETF Ticker Exchange Cash Distribution Per Unit ($)
    AGF Enhanced U.S. Equity Income Fund* AENU Cboe Canada Inc. $0.129939
    AGF Total Return Bond Fund* ATRB Cboe Canada Inc. $0.092000
    AGF Systematic Global Infrastructure ETF QIF Cboe Canada Inc. $0.142740

    *AGF Enhanced U.S. Equity Income Fund and AGF Total Return Bond Fund are mutual funds with an ETF series option.

    Further information about the AGF ETFs can be found at AGF.com.

    This information is not intended to provide legal, accounting, tax, investment, financial, or other advice, and should not be relied upon for providing such advice. Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. Please read the prospectus before investing. Investment funds are not guaranteed, their values change frequently, and past performance may not be repeated.

    AGF ETFs are ETFs offered by AGF Investments Inc. ETFs are listed and traded on organized Canadian exchanges and may only be bought and sold through licensed dealers.

    About AGF Management Limited

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

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

    Headquartered in Toronto, Canada, AGF has investment operations and client servicing teams on the ground in North America and Europe. With over $51 billion in total assets under management and fee-earning assets, AGF serves more than 815,000 investors. AGF trades on the Toronto Stock Exchange under the symbol AGF.B.

    About AGF Investments

    AGF Investments is a group of wholly owned subsidiaries of AGF Management Limited, a Canadian reporting issuer. The subsidiaries included in AGF Investments are AGF Investments Inc. (AGFI), AGF Investments America Inc. (AGFA), AGF Investments LLC (AGFUS) and AGF International Advisors Company Limited (AGFIA). The term AGF Investments may refer to one or more of these subsidiaries or to all of them jointly. This term is used for convenience and does not precisely describe any of the separate companies, each of which manages its own affairs.

    AGF Investments entities only provide investment advisory services or offers investment funds in the jurisdiction where such firm and/or product is registered or authorized to provide such services.

    AGF Investments Inc. is a wholly-owned subsidiary of AGF Management Limited and conducts the management and advisory of mutual funds in Canada.

    Media Contact

    Amanda Marchment
    Director, Corporate Communications
    416-865-4160
    amanda.marchment@agf.com  

    The MIL Network –

  • MIL-OSI United Kingdom: Scottish shipbuilding security and economy boost as warship named

    Source: United Kingdom – Executive Government & Departments

    News story

    Scottish shipbuilding security and economy boost as warship named

    Ceremony attended by the Prince and Princess of Wales. Smashing a whisky bottle against the hull for good luck, Her Royal Highness formally named HMS Glasgow

    Thousands of Scottish shipbuilders are delivering innovative warships that will protect Britain’s vital interests for decades to come, as HMS Glasgow was officially named in a ceremony at BAE Systems’ Glasgow shipyards (Thurs 22 May).

    HMS Glasgow is the first of eight Type 26 frigates, representing a £7.9 billion investment in British shipbuilding, directly supporting 1,700 skilled jobs in Glasgow and a further 2,300 roles across the UK maritime supply chain until 2035.

    Minister for Defence Procurement and Industry Maria Eagle said:

    The Type 26 programme demonstrates how Scotland’s world-class shipbuilding expertise contributes to both our national security and economic prosperity, delivering on the government’s Plan for Change. With thousands of high-skilled jobs supported in Glasgow and beyond, this programme showcases Scotland’s vital role in UK defence manufacturing.

    HMS Glasgow will provide critical protection for the UK’s continuous at-sea deterrent and Carrier Strike Group with unparalleled anti-submarine warfare capabilities, ensuring maritime security well into the 2060s.

    The Type 26 programme has transformed into a 29-ship global endeavour after Australia and Canada selected the design for their future frigates, creating significant export opportunities for the UK supply chain.

    Defence spending in Scotland currently totals £2.1 billion annually, supporting over 11,000 industry jobs and employing more than 14,000 military and civilian personnel across strategic sites including HMNB Clyde, RAF Lossiemouth and the Clyde shipbuilding centre.

    Scottish Secretary Ian Murray said:

    It was an honour to represent the UK Government at the naming of the first of the Royal Navy’s new Type 26 frigates, HMS Glasgow. Scotland is the beating heart of military shipbuilding, with eight Type 26 ships being built by BAE Systems in Glasgow and five Type 31 frigates by Babcock International in Rosyth.

    Economic growth and national security are UK Government priorities and our multi-billion pound investment in Scotland’s best in world shipbuilding and wider defence sectors will play a crucial role in delivering our Plan for Change by supporting thousands of skilled jobs and investing in our communities for years to come. The skills, expertise and innovation in Scottish shipyards is clear to see and our new Brand Scotland campaign will build on that success and help the sector export its world-class technology internationally.

    The eight City class frigates will form the backbone of the Royal Navy’s surface fleet once construction is completed by the mid-2030s, replacing the aging Type 23 ASW frigates with vessels equipped with sophisticated weapons systems, advanced sensors and state-of-the-art communications technology.

    As part of the Government’s Plan for Change, the defence industry will continue to drive innovation and job creation across Scotland, supporting a broad range of economic benefits including apprenticeships, skills development and regional prosperity.

    All eight Type 26 frigates will be based at HMNB Devonport in Plymouth following completion, with HMS Glasgow expected to be operational by 2028.

    Updates to this page

    Published 23 May 2025

    MIL OSI United Kingdom –

  • MIL-OSI: MINT Income Fund Announces Normal Course Issuer Bid

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, May 23, 2025 (GLOBE NEWSWIRE) — MINT Income Fund (the “Fund”) (TSX: MID.UN) announced that it has filed a notice with the Toronto Stock Exchange (the “TSX”) and received its approval to make a normal course issuer bid (“NCIB”). Purchases pursuant to the NCIB will be made in the open market through the facilities of the TSX and Alternative Canadian Trading Systems. This NCIB will commence on May 27, 2025 and will terminate on May 26, 2026. In accordance with the Declaration of Trust by which the Fund is governed, market purchases pursuant to its NCIB may be effected by the Fund.

    The Fund had 10,052,580 units issued and outstanding as at May 13, 2025, including 10,031,982 units in the public float. The Fund may, during the 12 month period commencing May 27, 2025 purchase on the TSX up to 1,003,198 units, being 10% of the public float and may not, in any 30 day period, purchase more than 201,051 units, being 2% of the units issued and outstanding. The Fund will hold in treasury for resale all units purchased pursuant to the bid. As at May 13, 2025 the Fund had purchased 18,700 units on the TSX and Alternative Canadian Trading Systems at an average price of $6.96 per unit under its previously approved normal course issuer bid. The Fund had the ability to purchase up to 1,089,755 units under its last NCIB. The manager of the Fund believes that such purchases are in the best interest of the Fund and are a desirable use of its available funds.

    The Fund trades on the Toronto Stock Exchange under the symbol “MID.UN”.

    For further information visit our website at www.middlefield.com or contact the undersigned:

    Nancy Tham
    Managing Director, Sales and Marketing
    (416) 847-5349

    May 23, 2025

    This press release may contain forward-looking information, including with respect to future purchases of Units by the Fund. The forward-looking information contained in this press release constitutes current expectations, as of the date of this press release, with respect to the matters covered hereby. Investors and others should not assume that any forward-looking statement contained in this press release represents an estimate as of any date other than the date of this press release.

    The MIL Network –

  • MIL-OSI Canada: Statement by Prime Minister Carney commemorating the Komagata Maru incident

    Source: Government of Canada – Prime Minister

    Today, the Prime Minister, Mark Carney, issued the following statement commemorating the Komagata Maru incident:

    “In 1914, the Komagata Maru steamship anchored in Vancouver’s harbour after a long journey across the Pacific. The 376 people aboard – of Sikh, Muslim, and Hindu faiths – arrived seeking refuge and dignity.

    “Canadian authorities however, using exclusionary and discriminatory laws, refused them entry. For two months, passengers were detained on the ship and denied access to food, water, and medical care. When they were forced to return to India, many were imprisoned or killed there.

    “The Komagata Maru tragedy is a stark reminder of how, in moments of our history, Canada fell short of the values we hold dear. We cannot rewrite the past, but we must confront it; to act with purpose, to ensure that such injustices are never repeated, and to build a stronger future where inclusion is not a slogan, but a reality – lived, practised, and defended.

    “Let this solemn anniversary serve as a call of remembrance and conscience. To honour the past is to learn from it, and to learn from it is to act.”

    MIL OSI Canada News –

  • MIL-OSI Global: West Nile virus found in the UK for the first time – what you need to know

    Source: The Conversation – UK – By Paul Hunter, Professor of Medicine, University of East Anglia

    Kwangmoozaa/Shutterstock.com

    For the first time, traces of the West Nile virus have been found in mosquitoes in the UK, according to a report published this week by the UK Health Security Agency.

    Here’s what you need to know about the virus and the disease it causes.

    What is West Nile virus?

    West Nile virus is a mosquito-borne virus first identified in Uganda in 1937. It belongs to the same viral family as dengue and yellow fever. The virus is most commonly transmitted by Culex mosquitoes, particularly the species Culex pipiens, which mainly feeds on birds.

    Birds are the primary host for West Nile virus, and the virus spreads in a cycle from infected birds to mosquitoes and then back to birds. Occasionally, mosquitoes can transmit the virus to humans or other animals.

    Most human infections – around 80% – cause no symptoms. When symptoms do occur, they are usually mild: fever, fatigue, headaches, body aches and sometimes nausea. But in rare cases, around one in 150 infections, the virus can cause severe illness, including encephalitis (inflammation of the brain) or meningitis. Older adults, especially those over 50, are most at risk of serious complications.

    The virus cannot normally be spread from person to person, though rare cases of transmission have occurred through blood transfusions or from mother to baby during pregnancy.

    Get your news from actual experts, straight to your inbox. Sign up to our daily newsletter to receive all The Conversation UK’s latest coverage of news and research, from politics and business to the arts and sciences.

    How did it get to the UK?

    Although the exact route isn’t known, experts believe the virus may have arrived in the UK via migratory birds infected elsewhere. The mosquitoes probably picked up the virus after feeding on these birds during their northward journey.

    The detection was made as part of a routine mosquito surveillance programme run by the Animal and Plant Health Agency. Mosquitoes collected from marshlands in south-east England tested positive in PCR (polymerase chain reaction) tests, which detect fragments of the virus’s genetic material.

    It’s important to note that a positive PCR test doesn’t necessarily mean the virus is infectious. After a mosquito becomes infected, the virus needs time – several days – to multiply inside the mosquito before it can be transmitted. And this process is highly temperature dependent.

    Can the virus spread in the UK?

    The UK’s relatively cool climate has, until now, helped keep mosquito-borne diseases at bay. At summer temperatures of around 15°C, it can take up to 100 days for the virus to develop inside a mosquito – longer than the insect’s lifespan. In contrast, in hotter climates (above 30°C), this process can take just a few days.

    For a local outbreak to occur, there would need to be a critical mass of infected birds and mosquitoes, with enough warm weather to sustain multiple cycles of transmission. So far, that hasn’t happened in the UK.

    But climate change could alter the equation. With rising global temperatures and longer, hotter summers, the conditions that allow viruses such as West Nile to spread may become more common in the UK.

    What’s happening elsewhere?

    West Nile virus was once limited to Africa and the Middle East but has spread significantly in recent decades. Large outbreaks have been recorded in countries including Greece, Romania, Israel, Russia and the US.

    The US outbreak began in New York City in 1999 when an unusual number of birds were found dead in a city zoo. A veterinary pathologist at the Bronx Zoo, Tracey McNamara, helped link the bird deaths to the human illnesses being reported.

    Since then, the virus has spread across most of the US, Canada and parts of South America, resulting in over 60,000 reported human cases, 28,000 hospitalisations and more than 3,000 deaths.

    In 2024, 19 European countries reported a total of 1,436 local cases, most in men over 65, with 125 deaths. Most were in Italy, Greece and Spain – countries with hot, mosquito-friendly summers.

    Outbreaks were also reported in birds and horses, which are both susceptible to the virus.

    Should UK residents be concerned?

    While the detection of West Nile virus in UK mosquitoes is noteworthy, experts emphasise that the public health risk remains very low. No human cases have been reported in the UK to date, and current summer temperatures are not yet conducive to sustained transmission.

    The greater risk for most British people probably comes from travel – particularly to southern Europe, where cases are rising.

    Travellers are advised to take standard mosquito precautions: wear light-coloured clothing, long sleeves and trousers, and use insect repellent, especially in the evening when mosquitoes are most active.

    For now, the virus is unlikely to spread widely in the UK. But as climate patterns shift, continued surveillance and public awareness will be key to staying ahead of the risk.

    Paul Hunter consults for the World Health Organization. He receives funding from National Institute for Health Research and has received funding from the World Health Organization and the European Regional Development Fund.

    – ref. West Nile virus found in the UK for the first time – what you need to know – https://theconversation.com/west-nile-virus-found-in-the-uk-for-the-first-time-what-you-need-to-know-257295

    MIL OSI – Global Reports –

  • MIL-OSI: ALRMiner Launches Smarter System to Boost Returns and Cut Energy Use

    Source: GlobeNewswire (MIL-OSI)

    Monmouth, Monmouthshire, May 23, 2025 (GLOBE NEWSWIRE) —

    The platform has evolved to accommodate the needs of its growing customer base throughout the years. ALRMiner introduced their revolutionary Mining Optimization System to enhance operational consistency and decrease  electricity use throughout their global mining operations. The platform of ALR Miner reached 7.9 million users  in 180 countries which represents a major growth milestone.

    This strategic rollout addresses long-standing inefficiencies in cloud mining by enabling real-time resource allocation based on blockchain load, network demand, and power availability. By continually adjusting its operations to match market and environmental dynamics, the platform now delivers greater reward stability without increasing hardware strain or energy consumption.

    The new system evaluates variables such as network congestion, mining difficulty, and local energy cost patterns, rerouting computing capacity accordingly. The impact is immediate: more consistent returns for users and reduced energy draw during low-efficiency cycles.

    “This launch is the result of years of disciplined engineering and field testing,” said Olivia Miller, Director of Communications at ALR Miner. “We’re not just scaling infrastructure—we’re refining the very core of how mining works. Our users expect reliable, transparent results. This system delivers just that, with smarter energy use and more predictable rewards.”

    During the multi-region trial phase, ALR Miner observed a 22% improvement in daily yield accuracy and a 30% reduction in unnecessary power usage across its Canada, Nordic, and Eastern European operations. The company’s design and energy teams coordinated across five time zones to ensure the update seamlessly integrates with every active contract.

    This latest development supports ALR Miner’s overarching commitment to responsible and sustainable growth. Each of its facilities runs on clean energy—predominantly solar, hydroelectric, and wind. The optimization system really enhances this eco-friendly model by adjusting to changes in renewable energy availability on the fly. So when there’s more stress on the grid or whenever the solar energy production drops, the system quickly adapts to keep everything running efficiently without losing any output.

    Here’s What ALR Miner Users Can Expect: 

    • Payouts every day that are more reliable: The system is set up to handle tasks quickly, so returns will stay steady no matter what level of contract you choose. 
    • Aligning with the environment: The platform also runs on renewable energy, which is good for the environment because it means less reliance on fossil fuels.
    • Hassle-Free Integration: Users don’t have to lift a finger; everything runs smoothly on the platform itself. 

    ALR Miner simplifies the mining process for both newcomers and experienced miners alike. There are no hidden fees, no need for personal equipment, and everything is transparent. With its optimization system now launched, ALR Miner is committed to technical integrity, environmental care, and user satisfaction. 

    To get more details or check out contract options, https://alrminer.com

    Media Contact:
     Olivia Miller
    Director of Communications
    media@alrminer.com
    +44 7514 226545

    Company Address:
     ALR Miner Headquarters
    78 Queen Street, Monmouthshire, UK

    Disclaimer: This press release is for informational purposes only and does not constitute financial advice, legal advice, or investment recommendations. Cryptocurrency involves risk and market volatility. Please research or consult a licensed financial advisor before making investment decisions. Alrminer.com and associated parties are not liable for any financial loss incurred.

    Attachment

    The MIL Network –

  • MIL-OSI: TerraVest Industries Inc. Announces Closing of Upsized Bought Deal Offering of Common Shares and Concurrent Closing of the Over-Allotment Option

    Source: GlobeNewswire (MIL-OSI)

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

    TORONTO, May 23, 2025 (GLOBE NEWSWIRE) — TerraVest Industries Inc. (TSX:TVK) (“TerraVest” or the “Company”) is pleased to announce that it has closed its previously announced bought deal treasury offering (the “Offering”) and concurrent closing of the exercise in full of the over-allotment option granted to a syndicate of underwriters (the “Underwriters”) with National Bank Financial Markets, Canaccord Genuity, and Desjardins Capital Markets acting as Co-Bookrunners. Pursuant to the Offering, the Company issued an aggregate 2,001,000 common shares (the “Shares”) at a price of $160.30 per share (the “Offer Price”) for gross proceeds of $320,760,300. The gross proceeds include 261,000 Shares issued at the same Offer Price for gross proceeds of $41,838,300 on the exercise in full of the over-allotment option granted to the Underwriters.

    The net proceeds from the Offering will be initially allocated towards repaying existing debt and supporting general corporate activities, until required for future acquisitions or growth opportunities.

    ABOUT TERRAVEST INDUSTRIES INC.:

    TerraVest is a diversified industrial company that manufactures and sells goods and services to a variety of end-markets. The Company is a market-leading manufacturer of home heating products, propane, anhydrous ammonia (“NH3”) and natural gas liquids (“NGL”) transport vehicles and storage vessels, energy processing equipment and fiberglass storage tanks. TerraVest is focused on acquiring and operating market-leading businesses that will benefit from TerraVest’s financial and operational support. For more information on the Company, please visit https://terravestindustries.com/. Additional information relating to the Company, including all public filings, is available on SEDAR+ (www.sedarplus.ca).

    FOR FURTHER INFORMATION, PLEASE CONTACT:
    Dustin Haw         
    Chief Executive Officer         
    TerraVest Industries Inc.         
    ir@terravestindustries.com

    Caution Concerning Forward-Looking Statements

    This news release contains forward-looking statements. All statements other than statements of historical fact contained in this news release are forward-looking statements, including, without limitation, statements regarding the use of proceeds of the Offering, potential for future acquisitions by TerraVest, our strategic direction and evaluation of the business segments and TerraVest as a whole, TerraVest’s plans with respect to its existing portfolio businesses and long-term acquisition strategy and other plans and objectives of or involving TerraVest. Readers can identify many of these statements by looking for words such as “expects” and “will” or similar terms or variations of these words. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct.

    By their nature, forward-looking statements require us to make assumptions and, accordingly, forward-looking statements are subject to inherent risks and uncertainties. There is significant risk that the forward-looking statements will not prove to be accurate. We caution readers of this news release not to place undue reliance on our forward-looking statements because a number of factors may cause actual future circumstances, results, conditions, actions or events to differ materially from the plans, expectations, estimates or intentions expressed in the forward-looking statements and the assumptions underlying the forward-looking statements.

    Assumptions and analysis about the performance of TerraVest as a whole and its business segments, the markets in which the business segments compete and the prospects and values of the business segments are considered in setting the business plan for TerraVest, plans and/or ability to pay dividends, outlook for operations, financial position, results and cash flows, other plans and objectives and in making related forward-looking statements. Such assumptions include, without limitation, demand for products and services of the business segments in respect of the Canadian and other markets in which the businesses are active will be stable, and that input costs to business segments do not vary significantly from levels experienced historically. Should any of these factors or assumptions vary, actual results may differ materially from the forward-looking statements.

    The MIL Network –

  • MIL-OSI Canada: Premier Going to France for More Trade Talks

    Source: Government of Canada regional news

    Premier Tim Houston will be in France May 24-29 to discuss market and energy opportunities with Michelin Group.

    “Michelin is one of Nova Scotia’s largest employers. They know that Nova Scotia can provide the talent they need to reach their goals, and they already provide jobs to thousands of hard-working Nova Scotians,” said Premier Houston. “As a government, we are pro-business, and we know that Nova Scotia has so much to offer companies that want to innovate and grow. Working together, we can create economic opportunities that make Nova Scotia stronger and more prosperous.”

    Michelin has produced more than 230 million tires in the province since 1971 and is part of Nova Scotia’s advanced manufacturing sector that exports products around the world, to more than 150 countries.

    Advanced manufacturing represents $4.67 billion of exported goods and 7.6 per cent of total provincial gross domestic product. Nova Scotia’s manufacturing infrastructure connectivity and logistics facilities make it the ideal choice for servicing Europe and North America.

    The Province is currently developing a comprehensive trade action plan to facilitate internal trade, enhance productivity and drive critical sectors with input from businesses and industry. Nova Scotia is focused on making the province more self-reliant by investing in the seafood sector, wind resources and critical minerals.

    Quick Facts:

    • Michelin is one of Nova Scotia’s largest employers with nearly 4,000 direct employees
    • the company’s exports account for nearly one per cent of Nova Scotia’s gross domestic product
    • mission delegates are: Premier Houston; Nicole LaFosse Parker, Chief of Staff and General Counsel; Executive Deputy Minister Tracey Taweel; and Mike McMurray, Executive Director, International Relations and Military Relations

    Additional Resources:

    News release – Premier Heads to Spain, United Kingdom for Trade Mission: https://news.novascotia.ca/en/2025/05/02/premier-heads-spain-united-kingdom-trade-mission

    News release – Michelin Expands in Nova Scotia with Provincial Support: https://news.novascotia.ca/en/2023/03/14/michelin-expands-nova-scotia-provincial-support

    Michelin’s strategic plan for 2030, Michelin in Motion: https://www.michelin.com/en/group/michelin-in-motion-strategy

    Other than cropping, Province of Nova Scotia photos are not to be altered in any way.

    MIL OSI Canada News –

  • MIL-OSI Canada: Premier’s statement on the anniversary of the Komagata Maru incident

    Premier David Eby has issued the following statement on the 111th anniversary of the Komagata Maru incident:

    “On May 23, 1914, a chartered steamer named the Komagata Maru arrived in Vancouver harbour after a long transoceanic voyage from Asia. The 376 Sikh, Muslim and Hindu passengers on board came to Canada in search of opportunity and a better life, like so many others. Instead, they were met with rejection and discrimination.

    “Only a handful of the passengers on board were allowed to disembark. The remainder were confined to the ship, where they endured harsh and deteriorating conditions. Necessities like food and water were restricted, while legal access and communication with supporters on shore was refused by authorities. After two months, the Komagata Maru was escorted by a warship from Vancouver harbour and forced to return to Asia.

    “While the issue has faded from public view, the injustice faced by the passengers and their treatment by Canadian officials remains a dark chapter, especially for South Asian communities in British Columbia.

    “In 2008, the Government of B.C. apologized for the treatment of the passengers. Eight years later, the prime minister delivered an apology in the House of Commons. In 2022, the Government of B.C. funded the South Asian Canadian Legacy Project to raise awareness about the many contributions South Asian Canadians have made to our province’s culture, heritage and economy.

    “We continue to learn from the mistakes of the past. It is our duty to make sure through education and advocacy that we never repeat them.”

    MIL OSI Canada News –

  • MIL-OSI: Announcement of the final result of Nykredit’s recommended voluntary public tender offer for Spar Nord Bank A/S – Nykredit Realkredit A/S

    Source: GlobeNewswire (MIL-OSI)

    THIS ANNOUNCEMENT IS PUBLISHED PURSUANT TO SECTION 21(3) OF EXECUTIVE ORDER NO. 636 OF 15 MAY 2020

    NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR TO ANY JURISDICTION WHERE DOING SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

    Announcement of the final result of Nykredit’s recommended voluntary public tender offer for Spar Nord Bank A/S

    23 May 2025

    Nykredit announces the final result of the recommended voluntary public tender offer for Spar Nord Bank A/S

    In accordance with section 4(1) of the Danish Takeover Order1, Nykredit Realkredit A/S (“Nykredit”) announced on 10 December 2024 that Nykredit intended to submit a voluntary public takeover offer (the “Offer”) to acquire all shares in Spar Nord Bank A/S (“Spar Nord Bank”), with the exception of Spar Nord Bank’s treasury shares, for a cash price of DKK 210 per share, valuing the aggregated issued share capital of Spar Nord Bank at DKK 24.7 billion. As stated in a supplement dated 2 April 2025, the offer price has subsequently been increased to DKK 210.50 per share.

    On 8 January 2025, Nykredit published the offer document regarding the Offer (the “Offer Document”), as approved by the Danish FSA in accordance with section 11 of the Danish Takeover Order. The Offer Document was most recently supplemented in a supplement of 23 April 2025.

    The offer period expired on 20 May 2025 at 23:59 (CEST), and on 21 May 2025 Nykredit announced the preliminary result of the Offer in accordance with section 21(3) of the Danish Takeover Order. The preliminary result of the Offer showed that Nykredit had obtained acceptances which, combined Spar Nord Bank shares held by Nykredit, represent 96.54 per cent of the total share capital and voting rights in Spar Nord Bank, excluding Spar Nord Bank’s holding of treasury shares.

    Final result

    In accordance with section 21(3) of the Danish Takeover Order, Nykredit hereby announces the final result of the Offer.

    The final summation of acceptances shows that Nykredit has obtained acceptances for 72,169,763 shares, equal to 62.87 per cent of the share capital and the associated voting rights in Spar Nord Bank, excluding Spar Nord Bank’s holding of 2,918,044 treasury shares. The acceptances correspond to 61.32 per cent of the total share capital and voting rights in Spar Nord Bank.

    The acceptances received combined with the total of 38,646,475 Spar Nord Bank shares owned by Nykredit represent 96.54 per cent of the total share capital and voting rights in Spar Nord Bank, excluding Spar Nord Bank’s holding of treasury shares. The acceptances received and Nykredit’s holding of Spar Nord Bank shares correspond in total to 94.15 per cent of the total share capital and the total number of voting rights in Spar Nord Bank.

    The relevant regulatory approvals have been obtained, and the final summation of acceptances confirms that the minimum condition for acceptance is also fulfilled. Nykredit therefore considers that all conditions for completion of the Offer have been fulfilled, and Nykredit intends to complete the Offer on the terms and conditions set out in the Offer Document.

    Settlement

    The Offer is expected to be completed on 28 May 2025, on which date the cash consideration will be paid to the designated account of each Spar Nord Bank shareholder who has validly accepted the Offer and who has not validly withdrawn the acceptance of the Offer.

    Compulsory acquisition, delisting and changes to the management and articles of association

    As Nykredit stands to obtain an ownership interest corresponding to more than 90 per cent of the share capital and the associated voting rights in Spar Nord Bank (excluding treasury shares) upon completion of the Offer, it is Nykredit’s intention, as described in section 7.8 of the Offer Document, to initiate and complete a compulsory acquisition of the shares held by the remaining Spar Nord Bank shareholders in pursuance of sections 70-72 of the Danish Companies Act.

    Nykredit furthermore intends to seek to have the Spar Nord Bank shares removed from trading and official listing on Nasdaq Copenhagen A/S as described in section 7.9 of the Offer Document.

    In this connection, Nykredit will request Spar Nord Bank to convene an extraordinary general meeting at which Nykredit, as described in sections 7.4 and 7.5 of the Offer Document, will propose changes to the board of directors of Spar Nord Bank and changes to Spar Nord Bank’s articles of association.

    Detailed information on compulsory acquisition and delisting will be published in separate announcements.

    Additional information

    Contact persons:

    Investor contact:

    Morten Bækmand, Head of Investor Relations, Nykredit (+45 4455 1521)

    Media contact:

    Orhan Gökcen, Head of Press, Nykredit (+45 3121 0639)

    For further information about the Offer, please see: https://www.nykredit.com/en-gb/offer-spar-nord/

    This announcement and the Offer Document (with supplements) are not directed at shareholders of Spar Nord Bank A/S whose participation in the Offer would require the issuance of an offer document, registration or activities other than what is required under Danish law (and, in the case of shareholders in the United States of America, Section 14(e) of, and applicable provisions of Regulation 14E promulgated under, the US Securities Exchange Act of 1934, as amended). The Offer is not made and will not be made, directly or indirectly, to shareholders resident in any jurisdiction in which the submission of the Offer or acceptance thereof would be in contravention of the laws of such jurisdiction. Any person coming into possession of this announcement, the Offer Document or any other document containing a reference to the Offer is expected and assumed to independently obtain all necessary information about any applicable restrictions and to observe these.

    This announcement does not constitute an offer or an invitation to purchase securities or a solicitation of an offer to purchase securities in accordance with the Offer or otherwise. The Offer will be submitted only in the form of the Offer Document (with supplements) approved by the FSA, which sets out the full terms and conditions of the Offer, including information on how to accept the Offer. The shareholders of Spar Nord Bank are advised to read the Offer Document and any related documents as they contain important information.

    Restricted jurisdictions

    The Offer is not made, and acceptance of the Offer to tender Spar Nord Bank shares is not accepted, neither directly nor indirectly, in or from any jurisdiction in which the making or acceptance of the Offer would not be in compliance with the laws of such jurisdiction or would require any registration, approval or any other measures with any regulatory authority not expressly contemplated by the Offer Document (the “Restricted Jurisdictions”). Neither the United States nor the United Kingdom is a Restricted Jurisdiction.

    Restricted Jurisdictions include, but are not limited to: Australia, Canada, Hong Kong, Japan, New Zealand and South Africa.

    Persons obtaining documents or information relating to the Offer (including custodians, account holding institutions, nominees, trustees, representatives, fiduciaries or other intermediaries) should not distribute, communicate, transfer or send these in or into a Restricted Jurisdiction or use mail or any other means of communication in or into a Restricted Jurisdiction in connection with the Offer. Persons (including, but not limited to, custodians, custodian banks, nominees, trustees, representatives, fiduciaries or other intermediaries) intending to communicate this announcement, the Offer Document, supplements or any related document to any jurisdiction outside Denmark or the United States should inform themselves about these restrictions before taking any action. Any failure to comply with these restrictions may constitute a violation of the laws of such jurisdiction, including securities laws. It is the responsibility of all Persons obtaining this announcement, the Offer Document, supplements, an acceptance form and/or other documents relating to the Offer, or into whose possession such documents otherwise come, to inform themselves about and observe all such restrictions.

    Nykredit is not responsible for ensuring that the distribution, dissemination or communication of this announcement, the Offer Document or supplements to shareholders outside Denmark, the United States and the United Kingdom is consistent with applicable law in any jurisdiction other than Denmark, the United States and the United Kingdom.

    Important Information for Shareholders in the United States

    The Offer concerns the shares in Spar Nord Bank, a public limited liability company incorporated and admitted to trading on a regulated market in Denmark, and is subject to the disclosure and procedural requirements of Danish law, including the Danish capital markets act and the Danish takeover order.

    The Offer is being made to shareholders in Spar Nord Bank in the United States in compliance with the applicable US tender offer rules under the U.S. Securities Exchange Act of 1934, as amended, (the “U.S. Exchange Act”), including Regulation 14E promulgated thereunder, subject to the relief available for a “Tier II” tender offer, and otherwise in accordance with the requirements of Danish law and practice

    Accordingly, US Spar Nord Bank shareholders should be aware that this announcement and any other documents regarding the Offer have been prepared in accordance with, and will be subject to, the disclosure and other procedural requirements, including with respect to withdrawal rights, the Offer timetable, settlement procedures and timing of payments of Danish law and practice, which may differ materially from those applicable under US domestic tender offer law and practice. In addition, the financial information contained in this announcement or the Offer Document has not been prepared in accordance with generally accepted accounting principles in the United States, or derived therefrom, and may therefore differ from, or not be comparable with, financial information of US companies.

    In accordance with the laws of, and practice in, Denmark and to the extent permitted by applicable law, including Rule 14e-5 under the U.S. Exchange Act, Nykredit, Nykredit’s affiliates or any nominees or brokers of the foregoing (acting as agents, or in a similar capacity, for Nykredit or any of its affiliates, as applicable) may from time to time, and other than pursuant to the Offer, directly or indirectly, purchase, or arrange to purchase, outside of the United States, shares in Spar Nord Bank or any securities that are convertible into, exchangeable for or exercisable for such shares in Spar Nord Bank before or during the period in which the Offer remains open for acceptance. These purchases may occur either in the open market at prevailing prices or in private transactions at negotiated prices. Any information about such purchases will be announced via Nasdaq Copenhagen and relevant electronic media if, and to the extent, such announcement is required under applicable law. To the extent information about such purchases or arrangements to purchase is made public in Denmark, such information will be disclosed by means of a press release or other means reasonably calculated to inform US shareholders of Spar Nord Bank of such information.

    In addition, subject to the applicable laws of Denmark and US securities laws, including Rule 14e-5 under the U.S. Exchange Act, the financial advisers to Nykredit or their respective affiliates may also engage in ordinary course trading activities in securities of Spar Nord Bank, which may include purchases or arrangements to purchase such securities.

    It may not be possible for US shareholders to effect service of process within the United States upon Spar Nord Bank, Nykredit or any of their respective affiliates, or their respective officers or directors, some or all of which may reside outside the United States, or to enforce against any of them judgments of the United States courts predicated upon the civil liability provisions of the federal securities laws of the United States or other US law. It may not be possible to bring an action against Nykredit, Spar Nord Bank and/or their respective officers or directors (as applicable) in a non-US court for violations of US laws. Further, it may not be possible to compel Nykredit and Spar Nord Bank or their respective affiliates, as applicable, to subject themselves to the judgment of a US court. In addition, it may be difficult to enforce in Denmark original actions, or actions for the enforcement of judgments of US courts, based on the civil liability provisions of the US federal securities laws.

    The Offer, if completed, may have consequences under US federal income tax and under applicable US state and local, as well as non-US, tax laws. Each shareholder of Spar Nord Bank is urged to consult its independent professional adviser immediately regarding the tax consequences of the Offer.

    NEITHER THE U.S. SECURITIES AND EXCHANGE COMMISSION NOR ANY SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY IN ANY STATE OF THE U.S. HAS APPROVED OR DECLINED TO APPROVE THE OFFER OR THIS ANNOUNCEMENT, PASSED UPON THE FAIRNESS OR MERITS OF THE OFFER OR PROVIDED AN OPINION AS TO THE ACCURACY OR COMPLETENESS OF THIS ANNOUNCEMENT OR ANY OFFER DOCUMENT. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENCE IN THE UNITED STATES.

    1 Executive Order no. 636 of 15 May 2020

    Attachment

    The MIL Network –

  • MIL-OSI Security: International Investigation Leads to Shutdown of Ransomware Group

    Source: US FBI

    “Radar/Dispossessor” servers and domains successfully dismantled

    On August 12, FBI Cleveland announced the disruption of “Radar/Dispossessor”—the criminal ransomware group led by the online moniker “Brain”—and the dismantling of three U.S. servers, three United Kingdom servers, 18 German servers, eight U.S.-based criminal domains, and one German-based criminal domain.

    Since its inception in August 2023, Radar/Dispossessor has quickly developed into an internationally impactful ransomware group, targeting and attacking small-to-mid-sized businesses and organizations from the production, development, education, healthcare, financial services, and transportation sectors. Originally focused on entities in the United States, the investigation discovered 43 companies as victims of the attacks, from countries including Argentina, Australia, Belgium, Brazil, Honduras, India, Canada, Croatia, Peru, Poland, the United Kingdom, the United Arab Emirates, and Germany. During its investigation, the FBI identified a multitude of websites associated with Brain and his team.

    Ransomware is a type of malicious software, or malware, that encrypts data on a computer making it unusable. A malicious cybercriminal holds the data hostage until the ransom is paid. If the ransom is not paid, the victim’s data remains unavailable. Cybercriminals may also pressure victims to pay the ransom by threatening to destroy the victim’s data or to release it to the public.

    Radar Ransomware follows the same dual-extortion model as other ransomware variants by exfiltrating victim data to hold for ransom in addition to encrypting victim’s systems. Simply, the ransomware identifies and attacks new victims and, re-victimizes current victims.

    Radar/Dispossessor identified vulnerable computer systems, weak passwords, and a lack of two-factor authentication to isolate and attack victim-companies. Once the criminals gained access to the systems, they obtained administrator rights and easily gained access to the files. The actual ransomware was then used for encryption. As a result, the companies could no longer access their own data. Once the company was attacked, if they did not contact the criminal actor, the group would then proactively contact others in the victim company, either through email or phone call. The emails also included links to video platforms on which the previously stolen files had been presented. This was always with the aim of increasing the blackmail pressure and increasing the willingness to pay.

    Finally, the compromise was announced by the attackers on a separate leak page and a countdown set until public release of the victim data if no ransom was paid.

    As ransomware can have many variants, such as this case, the total number of businesses and organizations affected is yet to be determined. The FBI encourages those with information about Brain or Radar Ransomware—or if their business or organization has been a target or victim of ransomware or currently paying a criminal actor—to contact its Internet Crime Complaint Center at ic3.gov or 1-800-CALL-FBI. Your identity can remain anonymous.

    The investigation and joint takedown were conducted in conjunction with the the U.K.’s National Crime Agency, Bamberg Public Prosecutor’s Office, Bavarian State Criminal Police Office (BLKA), and U.S. Attorney’s Office for the Northern District of Ohio.

    MIL Security OSI –

  • MIL-OSI Russia: G7 finance ministers call for solidarity in tackling global challenges

    Translation. Region: Russian Federal

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

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

    OTTAWA, May 23 (Xinhua) — Finance ministers and central bank governors of the Group of Seven (G7) countries called for unity to address current global challenges on Thursday following their annual meeting in Banff, Canada.

    According to a press release from the Department of Finance Canada, a communiqué was issued following the meeting, stressing the importance of G7 unity in the face of complex global challenges.

    The meeting of finance ministers and central bank governors took place ahead of the June G7 summit in Kananaskis, Alberta, Canada. The participants had productive and frank discussions on the global economy, unsustainable global imbalances, development assistance and productivity, the press release said.

    “Canada approaches this 50th meeting with clear priorities, such as stimulating growth and restoring stability to the global economy,” said Finance Minister Francois-Philippe Champagne.

    The G7 is an informal grouping of major global economies designed to coordinate responses to global crises. It includes Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States.

    The Group of Seven finance ministers and central bank governors meet annually to discuss key economic policy issues. –0–

    MIL OSI Russia News –

  • MIL-OSI Security: Friend and Business Partner of GirlsDoPorn Owner Michael Pratt Sentenced to 14 Years in Prison

    Source: US FBI

    NEWS RELEASE SUMMARY – March 19, 2024

    SAN DIEGO – Matthew Isaac Wolfe was sentenced in federal court today to 14 years in prison for his role in a conspiracy with Michael Pratt, owner of the website GirlsDoPorn, and others, to deceive and coerce young women into appearing in pornographic videos. A restitution hearing is scheduled for May 7, 2024 at 10 a.m.

    The conspiracy included recruiting the victims from throughout the United States and Canada using internet advertisements for clothed modeling jobs. Even after the victims learned the gig involved an adult video-shoot, Wolfe admitted to persuading women to appear in the videos by telling them that the videos would never be posted online, that the videos would never be released in the United States, and that no one who knew the women would ever find out about the videos, representations he knew to be false. In truth, the videos were exclusively marketed and distributed on the internet. Not only did Wolfe lie to the women, he also instructed others to do so. Wolfe told co-defendant Theodore Gyi, the cameraman on hundreds of GirlsDoPorn video shoots, that if asked, he should lie to the women and tell them the videos would not be posted on the internet.

    Most of the video shoots took place in San Diego – at local hotels and short-term rental units.  Although the women were promised that the video shoots would be brief, they often took hours. Once the video productions began, some women were not permitted to leave the shooting locations until the videos were completed; some were threatened with lawsuits or cancelled flights home if they did not complete the videos; and others were allegedly forced to perform certain sex acts, which they had earlier declined to do.

    After the victims returned home, still believing that they would remain anonymous, clips of the videos were posted on heavily trafficked adult film sites, like Pornhub, meant to funnel viewers to the full-length versions of the videos on Pratt’s website, GirlsDoPorn. Pratt charged visitors to GirlsDoPorn a subscription fee and generated more than $17 million in revenue. 

    Wolfe pleaded guilty to the conspiracy on July 26, 2022, admitting he moved to the United States from New Zealand in 2011 to work for Pratt and had a wide range of responsibilities. He filmed approximately 100 videos; uploaded finished videos onto the internet; oversaw the company’s financial books; and operated various business entities that were used to promote the business. Wolfe worked at GirlsDoPorn from 2011 until his arrest in October 2019.

    During hearings today and on January 22, 2024, approximately 30 survivors asked a federal judge to impose a significant sentence, describing how the actions of Wolfe and his co-defendants destroyed their lives. Survivors, many of them college students at the time, described answering what they thought were legitimate modeling ads and flying to San Diego for paid modeling gigs, only to be forced to perform sexual acts on camera.

    The women spoke of struggling with substance and alcohol abuse, anxiety and depression, suicidal thoughts and attempts, and post-traumatic stress syndrome in the aftermath of their videos going viral. Some spoke of lost relationships with friends and family; others dropped out of school; and others went into hiding.

    One of the women said: “I was robbed of my privacy, my dignity, and my peace of mind… But worst of all, I was robbed of my identity. I was once viewed as a beautiful, fun-loving and strong woman who was known for her athleticism and ability to make just about anyone laugh. I was a caring friend and a daughter my parents were proud of. Mr. Wolfe shattered who I was…Today I’m taking my identity back. I am not a victim. I’m a survivor.”

    One woman recalled the day she learned that her pornographic video received more than 300 million views on Pornhub, one of the most-visited websites in the world.

    “That ad seemed harmless, but it wrecked my entire life. In an instant, the life I had was gone: My hopes gone, my relationships gone, everything was gone…The fall-out from the videos spread to every part of my life like cancer, and that cancer remains to this day, making it virtually impossible for me to start a new life. I lost my modeling career, my college years, my whole twenties, my name, my career path, my friends, and my family. Everything I had built was gone, and so too was my future. Doors that were once opened were slammed in my face…Matthew Wolfe stole my life, and it wasn’t just my life. He stole hundreds of lives. What kind of price do you put on a life? Mr. Wolfe deserves a jail sentence that accounts for each and every life he has stolen.”

    Another woman told the court: “It’s been nearly 3,650 days of living in a tortuous purgatory, but today marks a major milestone in my recovery. Today there’s a shift in the winds. Today is the day all the survivors get their voices back. Today is the day we get to be heard.”

    Wolfe also admitted he was aware that personal identifying information and social media accounts for some women were being posted on pornwikileaks.com, a site controlled by Pratt and dedicated to “exposing” the true identities of individuals appearing in pornographic videos, causing the victims to be subjected to severe harassment. Even after Wolfe became aware of this, he and others continued to assure prospective models that no one would ever find out about their video shoot or learn their identity.

    “We applaud all survivors who courageously speak out in pursuit of justice,” said U.S. Attorney Tara McGrath. “Their voices rang out in the courtroom today, and we stand beside them in holding Mr. Wolfe accountable for the incredible pain and suffering he caused.”

    “Matthew Wolfe’s willingness to use deception, coercion and intimidation to exploit young women paints a sordid picture of the lengths some people will go just to make money,” said FBI San Diego Special Agent in Charge Stacey Moy. “Wolfe’s sentencing today, and any past or future sentencings related to this case, are small slivers of justice for the victims, but ultimately don’t fully heal the deep pain spawned by Mr. Wolfe and the other defendants.”

    Co-defendant Michael Pratt made his first appearance today after being extradited from Spain following more than three years as an international fugitive. In 2022, Pratt was named to the FBI’s Top Ten Most Wanted list.

    Ruben Andre Garcia, the recruiter and male model, was sentenced to 20 years in prison on June 14, 2021. Theodore Gyi was sentenced to four years in prison on November 9, 2022. Valorie Moser, the office manager, is set for sentencing on August 9, 2024.

    DEFENDANTS                                             Case Number 19cr4488                       

    Michael James Pratt                                        Age:       36                 Unknown

    Matthew Isaac Wolfe                                      Age        37                     San Diego, CA

    Ruben Andre Garcia                                       Age:       31                      San Diego, CA

    Theodore Gyi                                                  Age,       46                        Solana Beach, CA  

    Valorie Moser                                                 Age:       37                       San Diego, CA

    CHARGES

    Count 1

    Conspiracy to Commit Sex Trafficking by Force, Fraud and Coercion, 18 U.S.C. § 1594

    Maximum Penalty:  Life in prison, $250,000 fine.

    INVESTIGATING AGENCIES

    FBI – Southern District of California

    U.S. Marshals Service

    *The charges and allegations contained in an indictment or complaint are merely accusations, and the defendants are considered innocent unless and until proven guilty.

    MIL Security OSI –