Source: Government of Canada – Prime Minister
6:00 p.m. The Prime Minister will host a media availability following the Cabinet Policy Forum and take questions from the press.
West Block
Parliament Hill
Notes for media:
Open coverage
US Senate News:
Source: United States Senator for Rhode Island Jack Reed
“In the wake of the Bybit hack, it is essential that the United States redouble its efforts to prevent North Korean crypto theft.”
WASHINGTON, DC – Today, U.S. Senators Elizabeth Warren (D-MA), Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee, and Jack Reed (D-RI), a senior member of the committee, sent a letter to Secretary of the Treasury Scott Bessent and Attorney General Pam Bondi requesting information on efforts to combat increasingly aggressive and frequent cyber-attacks by ransomware groups based in North Korea.
In February, the Lazarus Group, a hacker syndicate backed by the North Korean government, stole approximately $1.5 billion in digital currency from Bybit, a popular cryptocurrency exchange. In the letter, the senators warn the attack marks a dangerous escalation in North Korea’s use of crypto theft to evade sanctions and fund its weapons programs — a direct threat to U.S. national security and global stability.
“In the wake of this attack—the ‘largest crypto theft of all time’—we write to request information regarding your efforts to combat increasingly aggressive and frequent cyber-attacks by ransomware groups based in North Korea,” wrote the senators.
They continued: “North Korea relies on cryptocurrency theft to subvert U.S.-led international sanctions and to undermine the security of the United States and our Indo-Pacific allies… These stolen assets have helped keep the regime afloat and supported continued investments in its nuclear and conventional weapons programs. Reports suggest there are potentially thousands of North Korean-affiliated crypto hackers around the globe.”
The senators press the agencies on how they are responding to the evolving tactics of North Korean hackers and what tools they need to prevent future attacks. This comes as Senate Republicans attempt to advance the GENIUS Act — legislation that, as currently drafted, would dramatically expand the stablecoin market with few guardrails and inadequate national security protections. A vote on the bill could come as early as later today.
Full text of the letter follows:
Dear Secretary Bessent and Attorney General Bondi:
On February 21, 2025, the Lazarus Group, a hacker syndicate backed by the Democratic People’s Republic of Korea (North Korea), stole approximately $1.5 billion in digital currency from Bybit, a popular cryptocurrency exchange. In the wake of this attack—the “largest crypto theft of all time”—we write to request information regarding your efforts to combat increasingly aggressive and frequent cyber-attacks by ransomware groups based in North Korea.
North Korea relies on cryptocurrency theft to subvert U.S.-led international sanctions and to undermine the security of the United States and our Indo-Pacific allies. The Annual Threat Assessment of the U.S. Intelligence Community for 2025 states that “North Korea is funding its military development—allowing it to pose greater risks to the United States—and economic initiatives by stealing hundreds of millions of dollars per year in cryptocurrency from the United States and other victims.” Between 2017 and 2023, North Korea stole an estimated $3 billion in crypto hacks, laundering tokens through crypto mixers to effectively mask their origins before funneling the proceeds back to Pyongyang. These stolen assets have helped keep the regime afloat and supported continued investments in its nuclear and conventional weapons programs. Reports suggest there are potentially thousands of North Korean-affiliated crypto hackers around the globe.
In recent years, North Korean hackers have shifted from simplistic crypto theft schemes to more sophisticated tactics. Typically, these attacks center around variations of social engineering schemes, designed to exploit vulnerabilities in tech and crypto companies. Hackers have increasingly found ways to infiltrate crypto firms, often faking credentials, resumes, and documents and disguising themselves as American or foreign nationals eligible for work. According to reports, “[t]hey have pretended to be Canadian IT workers, government officials and freelance Japanese blockchain developers. They will conduct video interviews to get a job, or …masquerade as potential employers.” In addition, hackers have relied on “phishing and supply chain attacks, and…infrastructure hacks which involve private key or seed phrase compromises.”
The Bybit hack reflects a further escalation in North Korea’s ability to execute complex crypto theft schemes. In the attack, hackers pulled approximately $1.5 billion from a “cold” crypto storage wallet—a “piece of hardware…kept mostly isolated from online networks” that, prior to the attack, were “considered to be almost impervious to attacks.”10 According to experts, the attack suggests that “North Korea has either expanded its money laundering infrastructure or that underground financial networks, particularly in China, have enhanced their capacity to absorb and process illicit funds.”11 The hack is expected to have significant impacts on the crypto industry and leaves companies scrambling to bolster cybersecurity. Specifically, “staving off North Korean thefts will likely require much higher spending by crypto exchanges.”
In the wake of the Bybit hack, it is essential that the United States redouble its efforts to prevent North Korean crypto theft. To better understand the scope of North Korea’s reliance on the theft of crypto to evade sanctions and finance its weapons programs and the steps the administration is taking to address this urgent national security concern, we ask that you respond to the following questions by June 2, 2025:
1. Please describe the steps your agency is taking to address threats to U.S. national security posed by North Korea’s theft of cryptocurrency to earn revenue and bypass sanctions.
2. What additional steps, if any, does your agency plan to take in the wake of the Bybit attack to bolster efforts to prevent North Korean cryptocurrency theft?
3. What are the biggest challenges your agency faces in combatting North Korean cryptocurrency theft? What steps can Congress take to bolster and support enforcement efforts to prevent future crypto theft?
Sincerely,
Source: GlobeNewswire (MIL-OSI)
QUEBEC CITY, Canada, May 20, 2025 (GLOBE NEWSWIRE) — LeddarTech® Holdings Inc. (“LeddarTech” or the “Company”) (Nasdaq: LDTC), an AI-powered software company recognized for its innovation in advanced driver assistance systems (ADAS) and autonomous driving (AD), today provided an update regarding its discussions with its lenders under the amended and restated financing offer dated as of April 5, 2023 with Fédération des caisses Desjardins du Québec (“Desjardins” and the financing offer, as amended, the “Desjardins Credit Facility”) and the bridge financing offer dated as of August 16, 2024 with the initial bridge lenders and certain members of management and the board of directors (collectively, the “Bridge Lenders”, and the financing offer, the “Bridge Facility”). While the Company continues to be in active discussions with Desjardins and its Bridge Lenders, it has not reached an agreement providing for additional financing for the Company or relief from the minimum cash, equity financing and process plan covenants contained in the Desjardins Credit Facility and Bridge Facility.
In an effort to preserve cash and afford the Company additional time to pursue discussions with its lenders, the Company also announced a reduction of its workforce through temporary layoffs of approximately 138 individuals, in all of its locations and across all departments within the organization, representing approximately 95% of the Company’s total workforce. Such measure will provide the Company with additional time to continue to actively evaluate potential alternatives relating to a restructuring of its obligations, a sale of the business or certain of its assets, strategic investments and/or any other alternatives, including seeking creditor protection under the Companies’ Credit Arrangement Act. There can be no assurance that the Company will be successful in pursuing and implementing any such alternatives, nor any assurance as to the outcome or timing of any such alternatives.
About LeddarTech
A global software company founded in 2007 and headquartered in Quebec City with additional R&D centers in Montreal and Tel Aviv, Israel, LeddarTech develops and provides comprehensive AI-based low-level sensor fusion and perception software solutions that enable the deployment of ADAS, autonomous driving (AD) and parking applications. LeddarTech’s automotive-grade software applies advanced AI and computer vision algorithms to generate accurate 3D models of the environment to achieve better decision making and safer navigation. This high-performance, scalable, cost-effective technology is available to OEMs and Tier 1-2 suppliers to efficiently implement automotive and off-road vehicle ADAS solutions.
LeddarTech is responsible for several remote-sensing innovations, with over 190 patent applications (112 granted) that enhance ADAS, AD and parking capabilities. Better awareness around the vehicle is critical in making global mobility safer, more efficient, sustainable and affordable: this is what drives LeddarTech to seek to become the most widely adopted sensor fusion and perception software solution.
Additional information about LeddarTech is accessible at www.leddartech.com and on LinkedIn, Twitter (X), Facebook and YouTube.
Forward-Looking Statements
Certain statements contained in this Press Release may be considered forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (which forward-looking statements also include forward-looking statements and forward-looking information within the meaning of applicable Canadian securities laws), including, but not limited to, statements relating to LeddarTech’s selection by the OEM referred to above, anticipated strategy, future operations, prospects, objectives and financial projections and other financial metrics, as well as expectations regarding the anticipated performance, adoption and commercialization of its products. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “may,” “will,” “should,” “would,” “expect,” “anticipate,” “plan,” “likely,” “believe,” “estimate,” “project,” “intend” and other similar expressions among others. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation, our ability to continue to maintain compliance with Nasdaq continued listing standards following our transfer to the Nasdaq Capital Market, as well as: (i) the risk that LeddarTech and the OEM referred to above are unable to agree to final terms in definitive agreements; (ii) the volume of future orders (if any) from this OEM, actual revenue derived from expected orders, and timing of revenue, if any; (iii) our ability to timely access sufficient capital and financing on favorable terms or at all; (iv) our ability to maintain compliance with our debt covenants, including our ability to enter into any forbearance agreements, waivers or amendments with, or obtain other relief from, our lenders as needed; (v) our ability to execute on our business model, achieve design wins and generate meaningful revenue; (vi) our ability to successfully commercialize our product offering at scale, whether through the collaboration agreement with Texas Instruments, a collaboration with a Tier 2 supplier or otherwise; (vii) changes in our strategy, future operations, financial position, estimated revenues and losses, projected costs and plans; (viii) changes in general economic and/or industry-specific conditions; (ix) our ability to retain, attract and hire key personnel; (x) potential adverse changes to relationships with our customers, employees, suppliers or other parties; (xi) legislative, regulatory and economic developments; (xii) the outcome of any known and unknown litigation and regulatory proceedings; (xiii) unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism, outbreak of war or hostilities and any epidemic, pandemic or disease outbreak, as well as management’s response to any of the aforementioned factors; and (xiv) other risk factors as detailed from time to time in LeddarTech’s reports filed with the U.S. Securities and Exchange Commission (the “SEC”), including the risk factors contained in LeddarTech’s Form 20-F filed with the SEC. The foregoing list of important factors is not exhaustive. Except as required by applicable law, LeddarTech does not undertake any obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
Contact:
Chris Stewart, Chief Financial Officer, LeddarTech Holdings Inc.
Tel.: + 1-514-427-0858, chris.stewart@leddartech.com
Leddar, LeddarTech, LeddarVision, LeddarSP, VAYADrive, VayaVision and related logos are trademarks or registered trademarks of LeddarTech Holdings Inc. and its subsidiaries. All other brands, product names and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.
LeddarTech Holdings Inc. is a public company listed on the Nasdaq under the ticker symbol “LDTC.”
Source: Samsung
Samsung Electronics today announced the addition of new pieces from Disney’s iconic portfolio to the Samsung Art Store,1 offering TV users worldwide a stunning new way to enjoy beloved visuals from Disney, Pixar, Star Wars and National Geographic — all in crystal-clear 4K resolution.
“We’re thrilled to expand our collaboration with Disney to offer their most beloved artwork to our global community of Art Store users,” said Heeyeong Ahn, Vice President of the Visual Display Business at Samsung Electronics. “By offering a diverse range of artistic content that transcends genres and generations, we aim to enrich the everyday lives of our users with art.”
The new Disney Collection transforms living rooms into immersive digital galleries, featuring classic and contemporary works that celebrate storytelling, adventure and the beauty of our planet. From the heartwarming tales of Disney princesses from films like “The Little Mermaid,” “Snow White,” and “Tangled” to the legendary “Star Wars saga” and the breathtaking wildlife of “Planet Earth,” the collection also offers fans a chance to discover new favorites — all through the lens of stunning digital art.
Samsung Art Store, a global digital art subscription platform available on Samsung TVs, now offers over 3,500 curated artworks from more than 800 artists and 70 world-class galleries and museums. First launched in 2017 with The Frame, the Art Store experience is now available on 2025 Samsung AI-powered Neo QLED and QLED TVs,2 giving more viewers access to premium art in 4K resolution.
In addition to this latest Disney collaboration, users can easily enjoy masterpieces from world-renowned museums such as the Museum of Modern Art (MoMA), the Metropolitan Museum of Art and the Musée d’Orsay, as well as a variety of contemporary and modern artworks showcased at Art Basel, from the comfort of their homes. The service also includes curated selections handpicked by professional art experts on a monthly basis, enhancing the overall viewing experience.
For more information, visit www.samsung.com.
1 The Disney Collection is now available in selected countries across Asia, North America (including the United States and Canada), and Europe, where the Samsung Art Store is supported.
2 For models Q7F and above.
Source: GlobeNewswire (MIL-OSI)
TORONTO, May 20, 2025 (GLOBE NEWSWIRE) — Purpose Investments Inc. (“Purpose”) is pleased to announce distributions for the month of May 2025 for its open-end exchange traded funds and closed-end funds (“the Funds”).
The ex-distribution date for all Open-End Funds is May 28, 2025. The ex-distribution date for all closed-end funds is May 30, 2025.
| Open-End Funds | Ticker Symbol |
Distribution per share/unit |
Record Date |
Payable Date |
Distribution Frequency |
|
| Apple (AAPL) Yield Shares Purpose ETF – ETF Units | APLY | $0.1667 | 05/28/2025 | 06/03/2025 | Monthly | |
| Purpose Canadian Financial Income Fund – ETF Series | BNC | $0.1225¹ | 05/28/2025 | 06/03/2025 | Monthly | |
| Berkshire Hathaway (BRK) Yield Shares Purpose ETF – ETF Units | BRKY | $0.1000 | 05/28/2025 | 06/03/2025 | Monthly | |
| Purpose Bitcoin Yield ETF – ETF Units | BTCY | $0.0850 | 05/28/2025 | 06/03/2025 | Monthly | |
| Purpose Bitcoin Yield ETF – ETF Non-Currency Hedged Units | BTCY.B | $0.0970 | 05/28/2025 | 06/03/2025 | Monthly | |
| Purpose Bitcoin Yield ETF – ETF USD Units | BTCY.U | US $0.0815 | 05/28/2025 | 06/03/2025 | Monthly | |
| Purpose Credit Opportunities Fund – ETF Units | CROP | $0.0875 | 05/28/2025 | 06/03/2025 | Monthly | |
| Purpose Credit Opportunities Fund – ETF USD Units | CROP.U | US $0.0975 | 05/28/2025 | 06/03/2025 | Monthly | |
| Purpose Ether Yield – ETF Units | ETHY | $0.0405 | 05/28/2025 | 06/03/2025 | Monthly | |
| Purpose Ether Yield ETF – ETF Non-Currency Hedged Units | ETHY.B | $0.0500 | 05/28/2025 | 06/03/2025 | Monthly | |
| Purpose Ether Yield ETF – ETF Units Non-Currency Hedged USD Units | ETHY.U | US $0.0395 | 05/28/2025 | 06/03/2025 | Monthly | |
| Purpose Global Flexible Credit Fund – ETF Units | FLX | $0.0461 | 05/28/2025 | 06/03/2025 | Monthly | |
| Purpose Global Flexible Credit Fund – Non-Currency Hedged – ETF Units | FLX.B | $0.0551 | 05/28/2025 | 06/03/2025 | Monthly | |
| Purpose Global Flexible Credit Fund – Non-Currency Hedged USD – ETF Units | FLX.U | US $0.0385 | 05/28/2025 | 06/03/2025 | Monthly | |
| Purpose Global Bond Class – ETF Units | IGB | $0.0860¹ | 05/28/2025 | 06/03/2025 | Monthly | |
| Microsoft (MSFT) Yield Shares Purpose ETF – ETF units | MSFY | $0.1100 | 05/28/2025 | 06/03/2025 | Monthly | |
| Purpose Enhanced Premium Yield Fund – ETF Series | PAYF | $0.1375¹ | 05/28/2025 | 06/03/2025 | Monthly | |
| Purpose Total Return Bond Fund – ETF Series | PBD | $0.0590¹ | 05/28/2025 | 06/03/2025 | Monthly | |
| Purpose Core Dividend Fund – ETF Series | $0.1050¹ | 05/28/2025 | 06/03/2025 | Monthly | ||
| Purpose Enhanced Dividend Fund – ETF Series | PDIV | $0.0950¹ | 05/28/2025 | 06/03/2025 | Monthly | |
| Purpose Real Estate Income Fund – ETF Series | PHR | $0.0720¹ | 05/28/2025 | 06/03/2025 | Monthly | |
| Purpose International Dividend Fund – ETF Series | PID | $0.0780 | 05/28/2025 | 06/03/2025 | Monthly | |
| Purpose Monthly Income Fund – ETF Series | PIN | $0.0830¹ | 05/28/2025 | 06/03/2025 | Monthly | |
| Purpose Multi-Asset Income Fund – ETF Units | PINC | $0.0840 | 05/28/2025 | 06/03/2025 | Monthly | |
| Purpose Conservative Income Fund – ETF Series | PRP | $0.0600¹ | 05/28/2025 | 06/03/2025 | Monthly | |
| Purpose Premium Yield Fund – ETF Series | PYF | $0.1100¹ | 05/28/2025 | 06/03/2025 | Monthly | |
| Purpose Premium Yield Fund Non-Currency Hedged – ETF Series | PYF.B | $0.1230¹ | 05/28/2025 | 06/03/2025 | Monthly | |
| Purpose Premium Yield Fund Non-Currency Hedged – ETF USD Series | PYF.U | US $0.1200¹ | 05/28/2025 | 06/03/2025 | Monthly | |
| Purpose Core Equity Income Fund – ETF Series | RDE | $0.0875¹ | 05/28/2025 | 06/03/2025 | Monthly | |
| Purpose Emerging Markets Dividend Fund – ETF Units | REM | $0.0950 | 05/28/2025 | 06/03/2025 | Monthly | |
| Purpose Canadian Preferred Share Fund – ETF Units | RPS | $0.0950 | 05/28/2025 | 06/03/2025 | Monthly | |
| Purpose US Preferred Share Fund – ETF Series | RPU | $0.0940 | 05/28/2025 | 06/03/2025 | Monthly | |
| Purpose US Preferred Share Fund Non-Currency Hedged – ETF Units2 | RPU.B / RPU.U | $0.0940 | 05/28/2025 | 06/03/2025 | Monthly | |
| Purpose Strategic Yield Fund – ETF Units | SYLD | $0.0970 | 05/28/2025 | 06/03/2025 | Monthly | |
| AMD (AMD) Yield Shares Purpose ETF – ETF Series | YAMD | $0.2000 | 05/28/2025 | 06/03/2025 | Monthly | |
| Amazon (AMZN) Yield Shares Purpose ETF- ETF Units | YAMZ | $0.4000 | 05/28/2025 | 06/03/2025 | Monthly | |
| Broadcom (AVGO) Yield Shares Purpose ETF – ETF Series | YAVG | $0.1500 | 05/28/2025 | 06/03/2025 | Monthly | |
| Coinbase (COIN) Yield Shares Purpose ETF – ETF Series | YCON | $0.3000 | 05/28/2025 | 06/03/2025 | Monthly | |
| Costco (COST) Yield Shares Purpose ETF – ETF Series | YCST | $0.1000 | 05/28/2025 | 06/03/2025 | Monthly | |
| Alphabet (GOOGL) Yield Shares Purpose ETF – ETF Units | YGOG | $0.2500 | 05/28/2025 | 06/03/2025 | Monthly | |
| Tech Innovators Yield Shares Purpose ETF – ETF Series | YMAG | $0.2000 | 05/28/2025 | 06/03/2025 | Monthly | |
| META (META) Yield Shares Purpose ETF – ETF Series | YMET | $0.1600 | 05/28/2025 | 06/03/2025 | Monthly | |
| Netflix (NFLX) Yield Shares Purpose ETF – ETF Series | YNET | $0.1100 | 05/28/2025 | 06/03/2025 | Monthly | |
| NVIDIA (NVDA) Yield Shares Purpose ETF – ETF Units | YNVD | $0.7500 | 05/28/2025 | 06/03/2025 | Monthly | |
| Palantir (PLTR) Yield Shares Purpose ETF – ETF Series | YPLT | $0.2500 | 05/28/2025 | 06/03/2025 | Monthly | |
| Tesla (TSLA) Yield Shares Purpose ETF – ETF Units | YTSL | $0.5500 | 05/28/2025 | 06/03/2025 | Monthly | |
| UnitedHealth Group (UHN) Yield Shares Purpose ETF – ETF Series | YUNH | $0.1100 | 05/28/2025 | 06/03/2025 | Monthly | |
| Closed-End Funds | Ticker Symbol |
Distribution per share/unit |
Record Date |
Payable Date |
Distribution Frequency |
|
| Big Banc Split Corp, Class A | BNK | $0.1200¹ | 05/30/2025 | 06/13/2025 | Monthly | |
| Big Banc Split Corp – Preferred Shares | BNK.PR.A | $0.0700¹ | 05/30/2025 | 06/13/2025 | Monthly | |
Estimated May 2025 Distributions for Purpose USD Cash Management Fund, Purpose Cash Management Fund, Purpose High Interest Savings Fund, and Purpose US Cash Fund
The May 2025 distribution rates for Purpose USD Cash Management Fund, Purpose Cash Management Fund, Purpose High Interest Savings Fund, and Purpose US Cash Fund are estimated to be as follows:
| Open-End Fund | Ticker Symbol |
Final distribution per unit |
Record Date |
Payable Date |
Distribution Frequency |
|
| Purpose USD Cash Management Fund – ETF Units | MNU.U | US $ 0.3528 | 05/28/2025 | 06/03/2025 | Monthly | |
| Purpose Cash Management Fund – ETF Units | MNY | $0.2370 | 05/28/2025 | 06/03/2025 | Monthly | |
| Purpose High Interest Savings Fund – ETF Units | PSA | $0.1068 | 05/28/2025 | 06/03/2025 | Monthly | |
| Purpose US Cash Fund – ETF Units | PSU.U | US $ 0.3495 | 05/28/2025 | 06/03/2025 | Monthly | |
Purpose expects to issue a press release on or about May 27, 2025, which will provide the final distribution rate for Purpose USD Cash Management Fund, Purpose Cash Management Fund, Purpose High Interest Savings Fund, and Purpose US Cash Fund. The ex-distribution date will be May 28, 2025.
| (1) | Dividend is designated as an “eligible” Canadian dividend for purposes of the Income Tax Act (Canada) and any similar provincial and territorial legislation. |
| (2) | Purpose US Preferred Share Fund Non-Currency Hedged – ETF Units have both a CAD and USD purchase option. Distribution per unit is declared in CAD, however, the USD purchase option (RPU.U) distribution will be made in the USD equivalent. Conversion into USD will use the end-of-day foreign exchange rate prevailing on the ex-distribution date. |
About Purpose Investments Inc.
Purpose Investments is an asset management company with more than $21 billion in assets under management. Purpose Investments has an unrelenting focus on client-centric innovation and offers a range of managed and quantitative investment products. Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Unlimited, an independent technology-driven financial services company.
For further information please contact:
Keera Hart
Keera.Hart@kaiserpartners.com
905-580-1257
Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. Please read the prospectus and other disclosure documents before investing. Investment funds are not covered by the Canada Deposit Insurance Corporation or any other government deposit insurer. There can be no assurance that the full amount of your investment in a fund will be returned to you. If the securities are purchased or sold on a stock exchange, you may pay more or receive less than the current net asset value. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.
Source: United Kingdom – Executive Government & Departments
A study published in BMJ Open looks at the association between herpes simplex virus type 1 and the risk of Alzheimer’s disease.
Dr Sheona Scales, Director of Research at Alzheimer’s Research UK:
“There’s an increasing amount of evidence that suggests our body’s response to certain viruses could put us at an increased risk of developing Alzheimer’s disease in later life.
“These recent findings from a large study using US health records propose that infection with HSV-1 – a common virus that causes cold sores – may be associated with an increased risk of Alzheimer’s disease. The researchers also state that taking medicines to treat HSV-1 infections could reduce the risk, but this is still very early work and needs more investigation.
“Despite the large sample size, this research has limitations partly due to only using health records and administrative claims data. Most people infected with HSV-1 don’t have any symptoms so some infections might not have been recorded. Infections predating the information recorded are also not available. Although cases were matched with controls, diagnosing Alzheimer’s disease, especially in the early stages, remains a challenge.
“The study authors found that some people receiving medicines to treat HSV-1 infections had a lower risk of Alzheimer’s disease, however a lot more work is needed to unpick this.
“We know there are 14 established risk factors for dementia, and there’s not enough evidence to include infections in this list. This study doesn’t tell us if infections are causing the risk, it only shows an association. Further research is needed to understand what the underlying biology around this is.”
Prof Cornelia van Duijn, Professor of Epidemiology at the Nuffield Department of Population Health, University of Oxford, said:
“Again a carefully conducted study adding to the growing evidence that various common viruses may determine the risk of Alzheimer’s disease, in particular in the elderly (70+ years).
“Matching Alzheimer’s patients carefully with controls in the IQVIA PharMetrics Plus claims database, the study further shows that treating those with an active herpes simplex 1 (HSV-1) infection with antiherpetic medication reduces the risk and postpones the onset of Alzheimer’s disease.
“Smaller but significant effects are also seen for HSV-2 and varicella zoster virus (VZV). With many GPs and the population being unaware of the dementia related benefits of treating HSV infections and preventing VZV activation through vaccination, it is time to call for actions informing those working in primary care as well as the population at large.”
Dr David Vickers, Cumming School of Medicine, University of Calgary, Canada, said:
“Declining HSV-1 rates in the U.S. since the late-70’s challenge the authors’ claim that Alzheimer’s disease (AD) will surge without intervention. This pharma-funded research exaggerates the role of HSV-1, failing to appreciate its absence in 99.56% of AD cases. The observed 17% hazard reduction with antiherpetic drugs translates to a mere nine-month delay in AD onset, offering no meaningful relief to the US$305 billion costs for treatment.
“The study’s data source makes its findings ungeneralisable, and it overstates a minor infection as a ‘public health priority’ to justify unnecessary treatment.”
Prof Tara Spires-Jones, Director of the Centre for Discovery Brain Sciences at the University of Edinburgh, said:
“This study reports that diagnosis of herpes simplex virus type 1 (HSV-1) infection is associated with increased risk of diagnosis of Alzheimer’s disease-related dementia. Scientists examined data from almost 700,000 people in a medical insurance claims database and found that in addition to an increased proportion of people with Alzheimer’s disease having a diagnosis of HSV-1, people with HSV-1 who were treated for the viral infection with “antiherpetic” medication were less likely to develop Alzheimer’s than those who did not have treatment.
“This is a well-conducted study adding to strong data in the field linking HSV-1 and other viral infections to increased risk of developing Alzheimer’s disease, but it is important to note that HSV-1 infection, which is extremely common in the population, is by no means a guarantee that someone will develop Alzheimer’s.
“Why viral infections may increase risk of dementia is not fully understood, but the most likely explanation is that infections increase inflammation in the body and contribute to age-related brain inflammation. More research is needed to understand the best way to protect our brains from Alzheimer’s disease as we age, including a better understanding of links between viral infection and Alzheimer’s risk.”
Dr Richard Oakley, Director of Research and Innovation at Alzheimer’s Society, said:
“This study adds to the growing interest in a possible link between the virus that causes cold sores and Alzheimer’s disease. Results from this observational study suggested that people with recorded cold sore infections were more likely to develop Alzheimer’s disease, and interestingly those prescribed antiviral drugs had a slightly lower risk.
“But this doesn’t prove that cold sores cause Alzheimer’s disease, or that antivirals prevent it. The data came from insurance records, often based on self-reported symptoms which may miss or misclassify infections, and didn’t track how often people had cold sores or how consistently they took medication.
“Much more research is needed to explore exactly how viruses might be involved and before we can draw firm conclusions. It is critical we explore every avenue to understand the complex causes of the diseases which cause dementia – infections are a growing area of interest.
“If you are worried about a cold sore or your general health, be sure to seek the appropriate help from a health professional.”
From the Spanish SMC:
Prof Alberto Ascherio, Professor of Epidemiology and Nutrition at the Harvard T.H. Chan School of Public Health (United States) and Professor of Medicine at Harvard Medical School, said:
“This is a high-quality study that stands out mainly for its sample size. The results confirm previous findings that people with a history of cold sores have a higher risk of developing Alzheimer’s disease and that this risk appears to be reduced in people who receive antiviral treatment.
“This is an observational study based on electronic data of varying quality, so the conclusions cannot be considered definitive. For example, the vast majority of cold sore episodes are not reported in medical records, so the study’s conclusions apply to a highly selected subgroup of individuals with clinical episodes of cold sores, perhaps due to clinical severity or the presence of other factors. For this reason, it would be premature for people with cold sores to worry about having an increased risk of Alzheimer’s disease. However, there is growing evidence that viral infections may affect the risk of Alzheimer’s disease, and it is important to initiate more definitive research.”
From the Australian SMC:
Prof Ashley Bush, Clinical Lead Mental Health Mission at The Florey, Australia, said:
“This is an important, large, case-control epidemiology study that shows that people suffering with Alzheimer’s disease or with other Alzheimer-like dementia (e.g. fronto-temporal dementia) are substantially (about 80%) more likely to have been infected with the viruses that cause cold sores, genital herpes, chicken pox or shingles. Further, people who were taking antivirals for cold sores were 17% less likely to develop Alzheimer’s disease over a 15 year period.
“These findings come in the wake of another recent report1 that showed that shingles vaccination decreased the probability of a new dementia diagnosis during the follow-up period of 7 years by 2%. Some scientists like Prof Ruth Itzhaki in Manchester and the late Rob Moir at Harvard have proposed that dementias like Alzheimer’s are provoked by viral infection. Herpes virus lives dormant in nerve cells, and it is thought that the pathology of the dementia is brought about by a defence to these infection gone wrong.
“It is unlikely that viral infection can explain all causes of dementia, but these recent papers implicate the infections are playing a role in accelerating these diseases. It certainly encourages more research in this direction and as to whether lifelong antivirals should be considered as preventive therapy for people who have had one of these infections.”
1 (Pomirchy M, Bommer C, Pradella F, Michalik F, Peters R, Geldsetzer P. Herpes Zoster Vaccination and Dementia Occurrence. JAMA. 2025 Apr 23; Epub 2025 Apr 23)
Prof Brenda Gannon, Professor of the Health Economics of Ageing at the University of Queensland, said:
“This research provides further evidence for the link between the common cold sores from HSV1 and Alzheimer’s Disease. The study now proposes that people with HSV who are treated with anti-viral medicine are less likely to develop AD. Using large scale administrative data from the US, the findings are suggestive of a protective effect of anti-viral treatment. This could be beneficial for Australians who suffer from the common cold sores and who would benefit from anti-viral treatment for their cold sores. It does not mean it could reduce the probability of AD.
“Further research would be required to ensure the study is more widely representative, since the authors note that not all populations are included in the data, e.g. those over 65 who receive free health care (Medicare). The study does not provide detail on who may benefit, for example does it help disadvantaged groups more, and who does it work together with other non-pharmacological treatments for lifestyle improvement.
“Overall, the study indicates some potential, but much more research would be required to determine if the anti-viral therapies for people with cold cores, is in fact going to reduce their probability of getting Alzheimer’s disease.
“As the authors state, it does not indicate cause and effect, but they do find it a potential avenue to explore further.
“The study did not include public involvement – but inclusion of the public, even on an advisory capacity would be useful, to help design the research questions and relevant factors included in the study.
“From a health economics perspective, it is unlikely that anti-viral therapy would be funded for the Australian population, until further evidence on effectiveness in prevention and then cost-effectiveness overall, including additional use of health care resources, is provided. More details on the health and socio-economics status of individuals are also warranted, to help determine who may benefit from the therapy.”
‘Association between herpes simplex virus type 1 and the risk of Alzheimer’s disease: a retrospective case control study’ by Yunhao Liu et al. was published in BMJ Open at 23.30 on Tuesday 20 May.
DOI: 10.1136/bmjopen-2024-093946
Declared interests
Cornelia van Duijn: “I receive funding from GSK (related to VZV vaccination) and NovoNordisk (unrelated to virus treatment/prevention), and have received funding from JNJ/Jansen Pharmaceutics (unrelated to virus treatment/prevention).”
David Vickers: “I have no interests or conflicts, financial or otherwise, to declare.”
Tara Spires-Jones: “I have no conflicts with this study but have received payments for consulting, scientific talks, or collaborative research over the past 10 years from AbbVie, Sanofi, Merck, Scottish Brain Sciences, Jay Therapeutics, Cognition Therapeutics, Ono, and Eisai. I am also Charity trustee for the British Neuroscience Association and the Guarantors of Brain and serve as scientific advisor to several charities and non-profit institutions.”
Ashley Bush: “I have no relevant conflicts.”
Brenda Gannon: “No COI”
For all other experts, no reply to our request for DOIs was received.
US Senate News:
Source: United States Senator for Illinois Dick Durbin
May 20, 2025
WASHINGTON – U.S. Senate Democratic Whip Dick Durbin (D-IL), a member of the Senate Appropriations Committee, today participated in a Subcommittee hearing entitled “A Review of the President’s Fiscal Year 2026 Budget Request for the U.S. Department of State.” During the hearing, Durbin questioned Secretary of State Marco Rubio about the humanitarian crisis happening in Gaza and whether the response from the State Department has been adequate. According to UN estimates, 14,000 babies in Gaza could die in the next 48 hours if aid does not reach Gaza.
“Three countries—France, United Kingdom, and Canada—made a statement, which I would like to summarize. You probably know it already. They said the resumption of aid into Gaza by Israel [is] ‘wholly inadequate.’ The United Kingdom paused free-trade talks with Israel and sanctioned Israeli settlers. And in the joint message by these three countries, allies of the United States, [they said] ‘If Israel does not cease the renewed military offensive and lift restrictions on humanitarian aid, we will take further, concrete action in response.’ Are we on the wrong side of history in watching this unfold and not responding as these three countries have?” Durbin asked.
Secretary Rubio responded, “We are not prepared to respond the way these countries have.” He also continued to state that there is “an immediate, acute challenge of food and aid not reaching people and existing distribution systems that could get them there. So, we continue to work.” Secretary Rubio also continued to say that there should be a shared goal of defeating Hamas and ensuring the Palestinian people receive the aid they desperately need.
“I agree with you. I think what you just said should be our policy. But I do not think we should use these people—these Palestinians, particularly these children—as just a casualty of war. This is a designed attack by Israel into Gaza. This is a designed decision by Israel not to provide humanitarian aid, food, medicine, [and] water. We provide quite a bit of money to Israel for its own defense and other purposes. Shouldn’t we be more forthcoming to speak out about this humanitarian crisis?” Durbin asked.
Durbin concluded, “What are we waiting for? The children are dying.”
Today, Durbin joined Senator Peter Welch (D-VT) in cosponsoring a resolution calling on the Trump Administration to use all diplomatic tools at its disposal to bring an end to the blockade of food and lifesaving humanitarian aid to address the needs of civilians in Gaza. In the resolution, Senators express grave concern about the ongoing humanitarian crisis in Gaza, including the imminent starvation of tens of thousands of children.
Video of Durbin’s questions in Committee is available here.
Audio of Durbin’s questions in Committee is available here.
Footage of Durbin’s question in Committee is available here for TV stations.
-30-
At this year’s Western Premiers’ Conference, Premier Smith will champion Alberta’s priorities and work alongside fellow leaders to advance shared goals, including economic growth, job creation and the development of new economic corridors in every direction, including oil and gas pipelines, to secure long-term prosperity for all Canadians.
The Premiers will also discuss the state of Canada’s federation and set a clear path forward with the new federal government. Key topics will include expanding markets in the face of global uncertainty, accelerating nation-building projects, advancing economic and energy corridors, strengthening and fortifying the Arctic and improving access to affordable housing.
“This is a critical moment for Alberta and for the West. We cannot afford federal overreach into provincial jurisdiction to continue, or damaging federal policies to impact the upward trajectory of our economies. I will be at the table to advocate for Alberta’s interests, particularly the importance of new pipelines, in an effort to put the power of our economy back in the hands of western Canadians.”
The Western Premiers’ Conference is held annually and gathers Premiers and governments from Canada’s four western provinces (British Columbia, Alberta, Saskatchewan, Manitoba) and three territorial governments (Northwest Territories, Yukon, Nunavut) to work together on advancing western interests in the Canadian federation.
The Western Premiers’ Conference operates by consensus and the chair rotates on an annual basis. This year’s conference will be hosted by Premier of Northwest Territories R.J. Simpson.
Media are invited to a press conference following the conclusion of the Western Premiers’ Conference.
Western Premiers’ Conference Media Availability:
WHEN: Thursday, May 22, 2025, 3-3:30 MST
WHERE: Caribou Room, Chateau Nova, Yellowknife
Media are required to RSVP. Local media will be provided accreditation at the venue. Out of town media will be provided a meeting link.
To RSVP, please contact:
Cabinet Communications
Government of the Northwest Territories
[email protected]
Source: US State of New York
overnor Kathy Hochul today announced awards for a total of 30 transformational projects for the Capital Region as part of two economic development programs: the Downtown Revitalization Initiative and NY Forward. Thirteen projects were announced for Lake George, the Round 7 winner of a $10 million DRI award; 11 projects were announced for Hoosick Falls, a Round 2 winner of a $4.5 million NY Forward award; and six projects were announced for Schuylerville, also a Round 2 winner of a $4.5 million NY Forward award.
“Through the Downtown Revitalization Initiative and NY Forward, we are empowering local leaders, driving smart growth, and creating vibrant, resilient downtowns where people want to live, work, and visit. This is how we build a stronger New York — one community at a time,” Governor Hochul said. “These 30 transformative projects are a testament to our commitment to strengthening communities across the Capitol Region.”
Town/Village of Lake George
The Town and Village of Lake George’s vision focuses on improving the quality of life and sense of place for the Canada Street corridor and adjacent waterfront. The DRI projects will create a more vibrant and prosperous downtown, assist a growing population and enhance the “visitor experience.”
The 13 Lake George DRI projects, totaling $9.7 million, include:
Village of Hoosick Falls
The Village of Hoosick Falls’ vision focuses on creating safe, walkable and accessible corridors that will serve as transformative connectors among past and future public, private and non-profit projects. Connecting these projects will transform Hoosick Falls into a cohesive economic generator to grow the job and population base locally, with positive ripple effects for the Capital Region’s vision and strategies.
The 11 Hoosick Falls NY Forward Projects, totaling $4.5 Million, include:
Village of Schuylerville
The Village of Schuylerville’s vision focuses on building upon previous investments and partnerships to increase housing opportunities that will attract more residents; offer new public park and event amenities; create more commercial tourist attractions and overnight lodging; and improve historic signage and wayfinding.
The 6 Schuylerville NY Forward Projects, totaling $4.5 Million, include:
In the FY2025 Enacted Budget, Governor Hochul made the “Pro-Housing Community” designation a requirement for cities, towns and villages to access up to $650 million in State discretionary programs, including the Downtown Revitalization Initiative and New York Forward. To date, more than 300 municipalities across the State have become certified. To further support localities that are doing their part to address the housing crisis, Governor Hochul secured $100 million in the FY2026 Enacted Budget to create a Pro-Housing Supply fund to assist certified Pro-Housing Communities with critical infrastructure projects necessary to create new housing, such as sewer and water infrastructure upgrades.
New York Secretary of State Walter T. Mosley said, “When we invest in our downtowns, we’re investing in the heart of our communities. Through the Downtown Revitalization Initiative and NY Forward program, we’re not just funding projects – we’re fostering vibrant, walkable neighborhoods that spur economic growth, enhance quality of life for residents and preserve the unique character of each municipality and region. These signature programs exemplify our commitment to ensuring that every New Yorker, in every corner of our State, has the opportunity to succeed and thrive.”
Empire State Development President, CEO, and Commissioner Hope Knight said, “The Downtown Revitalization Initiative and NY Forward programs are transforming communities across New York State by turning local visions into bold investments to generate place-based economic development. These projects will create new opportunities for businesses, support vibrant public spaces, and attract residents and visitors alike – laying the foundation for sustainable growth and stronger regional economies.”
New York State Homes and Community Renewal Commissioner RuthAnne Visnauskas said, “All across this State, the Downtown Revitalization Initiative and NY Forward programs are strategically prioritizing communities, growing economies with targeted awards, creating more housing opportunities that improve affordability for New Yorkers where it is most needed, and building on the diverse character of our neighborhoods. By working with local and municipal partners, these awards continue Governor Hochul’s commitment to developing the full potential of our downtowns as economic drivers and attractive places to live.”
CREDC Co-Chairs Ruth Mahoney and Dr. Havidán Rodríguez said, “The 30 regionally informed and strategic DRI and NY Forward projects will make Lake George, Hoosick Falls and Schuylerville even more vibrant for residents and visitors alike. Whether it’s adding housing, increasing recreational opportunities, or creating spaces for more businesses to grow and thrive, the entire Capital Region will benefit from the vision these initiatives are supporting and making a reality, both now and for a sustainable future.”
Assemblymember Scott Bendett said, “The allocation of $4.5 million for development, and redevelopment in the Village of Hoosick Falls is welcome news for residents who have gone through so much in recent years. This year already brought the good news of a new water supply to the village, and with 11 new, state-funded projects on the horizon, there is even more to look forward to. I appreciate the state taking notice of opportunities in our smaller municipalities, and taking action to see them through.”
Assemblymember Carrie Woerner said, “The Village of Schuylerville is on the rise! I applaud the vision of the Schuylerville Village Mayor and Trustees, and the community members who contributed to this plan to move the Village forward. With thanks to Governor Hochul for her leadership in supporting the re-investment in historic downtowns across the state.”
Village of Lake George Mayor Ray Perry said, “We at the Village of Lake George and the entire Lake George community are ecstatic to see these projects move forward! We are extremely thankful to the Governor and her team to be able to improve upon the Lake George experience for our residents as well as our visitors! I’m happy to say that there are great things to come!”
Town of Lake George Supervisor Vincent Crocitto said, “We would like to thank the state for believing in Lake George. This initiative represents a shared vision of revitalization that honors the unique character of Lake George while embracing innovation and economic opportunity, with the support of our town, village, county, local business partners and leadership from the state, we’re ready to make meaningful progress for our community.”
Village of Hoosick Falls Mayor Dan Schuttig said, “The New York Forward program will provide an incredible, transformative opportunity for the Village of Hoosick Falls. I would like to thank Governor Kathy Hochul for leading the effort to revitalize upstate communities. I would also like to thank the local committee for their hard work putting together such incredible projects that will forever improve the lives of Village residents. This is the first step of many towards the revitalization of our beautiful village here on the Hoosic River!!”
Village of Schuylerville Mayor Dan Carpenter said, “We are incredibly grateful to Governor Hochul for her continued commitment to the economic revitalization of small upstate communities like ours. This $4.5 million investment through the NY Forward program will allow Schuylerville to build on our historic charm and community spirit by creating new housing opportunities, enhancing our parks and public spaces, and expanding our commercial and cultural attractions. From the long-awaited Village Community Center to the reconnection of the Old Champlain Canal, these transformative projects will benefit residents and visitors alike. We are excited to get to work and bring these visions to life.”
DRI and NY Forward communities developed Strategic Implementation Plans (SIPs), which create a vision for the future of their downtown and identify and recommend a slate of complementary, transformative and implementable projects that support that vision. The SIPs are guided by a Local Planning Committee (LPC) comprised of local and regional leaders, stakeholders and community representatives, with the assistance of an assigned consultant and DOS staff, all of whom conduct extensive community outreach and engagement when determining projects. The projects selected for funding from the SIP were identified as having the greatest potential to jumpstart revitalization and generate new opportunities for long-term growth.
About the Downtown Revitalization Initiative
The Downtown Revitalization Initiative was created in 2016 to accelerate and expand the revitalization of downtowns and neighborhoods in all ten regions of the state to serve as centers of activity and catalysts for investment. Led by the Department of State with assistance from Empire State Development, Homes and Community Renewal and NYSERDA, the DRI represents an unprecedented and innovative “plan-then-act” strategy that couples strategic planning with immediate implementation and results in compact, walkable downtowns that are a key ingredient to helping New York State strengthen its economy, as well as to achieving the State’s bold climate goals by promoting the use of public transit and reducing dependence on private vehicles. Through nine rounds, the DRI has awarded a total of $900 million to 91 communities across every region of the State.
About the NY Forward Program
First announced as part of the 2022 Budget, Governor Hochul created the NY Forward program to build on the momentum created by the DRI. The program works in concert with the DRI to accelerate and expand the revitalization of smaller and rural downtowns throughout the State so that all communities can benefit from the State’s revitalization efforts, regardless of size, character, needs and challenges.
NY Forward communities are supported by a professional planning consultant and team of State agency experts led by DOS to develop a Strategic Investment Plan that includes a slate of transformative, complementary and readily implementable projects. NY Forward projects are appropriately scaled to the size of each community; projects may include building renovation and redevelopment, new construction or creation of new or improved public spaces and other projects that enhance specific cultural and historical qualities that define and distinguish the small-town charm that defines these municipalities. Through three rounds, the NY Forward program has awarded a total of $300 million to 60 communities across every region of the State.
SPECIAL REPORT: By Jeremy Rose
Reading an NBC News report a couple of days ago about a Trump administration plan to relocate 1 million Gazans to Libya reminded me of a conversation between the legendary Warsaw Ghetto leader Marek Edelman and fellow fighter and survivor Simcha Rotem that took place more than quarter of a century ago.
In the conversation, first reported in Haaretz in 2023, Rotem said the Jews who walked into the gas chambers without a fight did so only because they were hungry.
Edelman disagreed, but Rotem insisted. “Listen, man. Marek, I’m surprised by your attitude. They only went because they were hungry. Even if they’d known what awaited them they would have walked into the gas chambers. You and I would have done the same.”
Edelman cut him off. “You would never have gone” [to the gas chamber.] Rotem replied, “I’m not so sure. I was never that hungry.”
Edelman agreed, saying: “I also wasn’t that hungry,” to which Rotem said, “That’s why you didn’t go.”
The NBC report claims that Israeli officials are aware of the plan and talks have been held with the Libyan leadership about taking in 1 million ethnically cleansed Palestinians.. The carrot being offered is the unfreezing of billions of dollars of Libya’s own money seized by the US more than a decade ago.
The Arabic word Sumud — or steadfastness — is synonymous with the Palestinian people. The idea that 1 million Gazans would agree to walk off the 1.4 percent of historic Palestine that is Gaza is inconceivable.
Equally incomprehensible
But then the idea that my great grandmother and other relatives walked into the gas chambers is equally incomprehensible. But we’ve never been that hungry.
The people of Gaza are. No food has entered Gaza for 76 days. Half a million Gazans are facing starvation and the rest of the population (more than 1.5 million people) are suffering from high levels of acute food insecurity, according to the UN.
Last year, Israel’s Finance Minister Bezalel Smotrich was widely condemned when he suggested starving Gaza might be “justified and moral”.
The lack of outrage and urgency being expressed by world leaders — particularly Western leaders — after nearly 11 weeks of Israel actually starving the inhabitants of what retired IDF general Giora Eiland has called a giant concentration camp — is an outrage.
As far as I’m aware there’s been no talk of cutting off diplomatic relations, trade embargos or even cultural boycotts.
Israel — which last time I looked wasn’t in Europe — just placed second in Eurovision. “I’m happy,” an Israeli friend messaged me, “that my old genocidal homeland (Austria) won and not my current genocidal nation.”
A third generation Israeli, she’s one of a tiny minority protesting the war crimes being committed less than 100km from her apartment.
Honourable exceptions
Spanish Prime Minister Pedro Sanchez and Irish President Michael Higgins are honourable exceptions to the muted criticism being expressed by Western leaders, although this criticism has finally been stepped up with the threatened “concrete actions” by the UK, France and Canada, and the condemnation of Israel by 22 other countries — including New Zealand.
Sanchez had declared Israel a genocidal state and said Spain won’t do business with such a nation.
And peaking at a national famine commemoration held over the weekend Higgens said the UN Security Council had failed again and again by not dealing with famines and the current “forced starvation of the people of Gaza”.
He cited UN Secretary-General António Guterres saying “as aid dries up, the floodgates of horror have re-opened. Gaza is a killing field — and civilians are in an endless death loop.”
Nobel Prize winning economist Amartya Sen argued in his 1981 book Poverty and Famines that famines are man-made and not natural disasters.
Unlike Gaza, the famines he wrote about were caused by either callous disregard by the ruling elites for the populations left to starve or the disastrous results of following the whims of an all-powerful leader like Chairman Mao.
He argued that a famine had never occurred in a functioning democracy.
A horrifying fact
It’s a horrifying fact that a self-described democracy, funded and abetted by the world’s most powerful democracy, has been allowed by the international community to starve two million people with no let-up in its bombing of barely functioning hospitals and killing of more than 2000 Gazans since the ban on food entering the strip was put in place. (Many more will have died due to a lack of medicine, food, and access to clean water.)
After more than two months of denying any food or medicine to enter Gaza Israel is now saying it will allow limited amounts of food in to avoid a full-scale famine.
“Due to the need to expand the fighting, we will introduce a basic amount of food to the residents of Gaza to ensure no famine occurs,” Prime Minister Benjamin Netanyahu explained.
“A famine might jeopardise the continuation of Operation Gideon’s Chariots aimed at eliminating Hamas.”
If 19-months of indiscriminate bombardment, the razing to the ground of whole cities, the displacement of virtually the entire population, and more than 50,000 recorded deaths (the Lancet estimated the true figure is likely to be four times that) hasn’t destroyed Hamas to Israel’s satisfaction it’s hard to conceive of what will.
But accepting that that is the real aim of the ongoing genocide would be naïve.
Shamefully indifferent Western world
In the first cabinet meeting following the Six Day War, long before Hamas came into existence, ridding Gaza of its Palestinian inhabitants was top of the agenda.
“If we can evict 300,000 refugees from Gaza to other places . . . we can annex Gaza without a problem,” Defence Minister Moshe Dayan said.
The population of Gaza was 400,000 at the time.
“We should take them to the East Bank [Jordan] by the scruff of their necks and throw them there,” Minister Yosef Sapir said.
Fifty-eight years later the possible destinations may have changed but the aim remains the same. And a shamefully indifferent Western world combined with a malnourished and desperate population may be paving the way to a mass expulsion.
If the US, Europe and their allies demanded that Israel stop, the killing would end tomorrow.
Jeremy Rose is a Wellington-based journalist and his Towards Democracy blog is at Substack.
Source: GlobeNewswire (MIL-OSI)
TORONTO, May 20, 2025 (GLOBE NEWSWIRE) — Partners Value Investments L.P. (the “Partnership”, TSX: PVF.UN TSX:PVF.PR.U) announced today its financial results for the three months ended March 31, 2025. All amounts are stated in U.S. dollars.
The Partnership recorded net income of $24.6 million for the three months ended March 31, 2025, compared to net income of $26.3 million in the prior year quarter. Net income was in line with the prior year quarter as higher investment income and valuation gains were offset by the absence of foreign currency gains and tax recoveries recognized in the prior year quarter. Income of $22.2 million was attributable to the Equity Limited Partners ($0.32 per Equity LP unit) and income of $2.4 million was attributable to Preferred Limited Partners.
As at March 31, 2025, the market prices of a Brookfield Corporation (“BN”, NYSE/TSX: BN) and Brookfield Asset Management Ltd. (“BAM”, NYSE/TSX: BAM) share were $52.41 and $48.45, respectively. As at May 20, 2025, the market prices of a BN and BAM share were $58.98 and $58.82, respectively.
Consolidated Statements of Operations
| (Unaudited) For the three months ended March 31 (Thousands, US dollars) |
|||||||||
| 2025 | 2024 | ||||||||
| Investment income | |||||||||
| Dividends | $ | 26,559 | $ | 24,027 | |||||
| Other investment income | 7,179 | 4,035 | |||||||
| 33,738 | 28,062 | ||||||||
| Expenses | |||||||||
| Operating expenses | (1,352 | ) | (2,437 | ) | |||||
| Financing costs | (2,417 | ) | (2,481 | ) | |||||
| Retractable preferred share dividends | (10,041 | ) | (9,736 | ) | |||||
| (13,810 | ) | (14,654 | ) | ||||||
| Other items | |||||||||
| Investment valuation gains | 7,212 | 924 | |||||||
| Amortization of deferred financing costs | (912 | ) | (884 | ) | |||||
| Foreign currency (losses) gains | (124 | ) | 8,899 | ||||||
| Current taxes (expense) recovery | (361 | ) | 8,069 | ||||||
| Deferred taxes expense | (1,102 | ) | (4,158 | ) | |||||
| Net income | $ | 24,641 | $ | 26,258 | |||||
The information in the following table shows the changes in net book value:
| (Unaudited) For the three months ended March 31 (Thousands, except per unit amounts) |
2025 | 2024 | |||||||||||
| Total | Per Unit | Total | Per Unit | ||||||||||
| Net book value, beginning of period1 | $ | 8,375,682 | $ | 102.80 | $ | 5,783,620 | $ | 70.74 | |||||
| Net income2 | 22,220 | 24,714 | |||||||||||
| Other comprehensive (loss) income2 | (828,447 | ) | 290,050 | ||||||||||
| Adjustment for impact of warrants1 | (173 | ) | (6,120 | ) | |||||||||
| Equity LP repurchases | (2,438 | ) | (3,617 | ) | |||||||||
| Net book value, end of period3 | $ | 7,566,844 | $ | 96.32 | $ | 6,088,647 | $ | 74.52 | |||||
Financial Profile
The Partnership’s principal investments are its interest in approximately 121 million Class A Limited Voting Shares of BN and approximately 31 million Class A Limited Voting Shares of BAM. This represents approximately an 8% interest in BN and a 2% interest in BAM as at March 31, 2025. In addition, the Partnership owns a diversified investment portfolio of marketable securities and private fund interests.
The information in the following table has been extracted from the Partnership’s Consolidated Statements of Financial Position:
Consolidated Statements of Financial Position
| (Unaudited) As at (Thousands, US dollars) |
March 31, 2025 |
December 31, 2024 |
|||||
| Assets | |||||||
| Cash and cash equivalents | $ | 308,077 | $ | 156,977 | |||
| Accounts receivable and other assets | 54,375 | 48,924 | |||||
| Investment in Brookfield Corporation1 | 6,339,885 | 6,949,656 | |||||
| Investment in Brookfield Asset Management Ltd.2 | 1,492,635 | 1,669,488 | |||||
| Investment in Brookfield Wealth Solutions Ltd.3 | 428,584 | 471,787 | |||||
| Other investments carried at fair value | 346,818 | 343,090 | |||||
| $ | 8,970,374 | $ | 9,639,922 | ||||
| Liabilities and equity | |||||||
| Accounts payable and other liabilities | $ | 44,194 | $ | 42,055 | |||
| Corporate borrowings | 208,094 | 208,168 | |||||
| Preferred shares4 | 1,074,573 | 939,057 | |||||
| Deferred tax liability | 9,469 | 7,933 | |||||
| 1,336,330 | 1,197,213 | ||||||
| Equity | |||||||
| Equity Limited Partners | 7,452,974 | 8,261,639 | |||||
| Preferred Limited Partners | 152,040 | 152,040 | |||||
| Non-controlling interests | 29,030 | 29,030 | |||||
| 7,634,044 | 8,442,709 | ||||||
| $ | 8,970,374 | $ | 9,639,922 |
For further information, contact Investor Relations at ir@pvii.ca or 416-643-7621.
Note: This news release contains “forward-looking information” within the meaning of Canadian provincial securities laws and “forward-looking statements” within the meaning of applicable Canadian securities regulations. The words “potential” and “estimated” and other expressions which are predictions of or indicate future events, trends or prospects and which do not relate to historical matters, identify forward-looking information.
Although the Partnership believes that its anticipated future results, performance or achievements expressed or implied by the forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on forward-looking statements and information because they involve known and unknown risks, uncertainties and other factors, many of which are beyond its control, which may cause the actual results, performance or achievements of the Partnership to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements and information.
Factors that could cause actual results to differ materially from those contemplated or implied by forward‐looking statements and information include, but are not limited to: the financial performance of Brookfield Corporation, the impact or unanticipated impact of general economic, political and market factors; the behavior of financial markets, including fluctuations in interest and foreign exchanges rates; limitations on the liquidity of our investments; global equity and capital markets and the availability of equity and debt financing and refinancing within these markets; strategic actions including dispositions; changes in accounting policies and methods used to report financial condition (including uncertainties associated with critical accounting assumptions and estimates); the effect of applying future accounting changes; business competition; operational and reputational risks; technological change; changes in government regulation and legislation; changes in tax laws; risks associated with the use of financial leverage; catastrophic events, such as earthquakes and hurricanes; the possible impact of international conflicts and other developments including terrorist acts; and other risks and factors detailed from time to time in the Partnership’s documents filed with the securities regulators in Canada.
The Partnership cautions that the foregoing list of important factors that may affect future results is not exhaustive. When relying on the Partnership’s forward-looking statements and information, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Except as required by law, the Partnership undertakes no obligation to publicly update or revise any forward-looking statements and information, whether written or oral, that may be as a result of new information, future events or otherwise.
Source: GlobeNewswire (MIL-OSI)
TORONTO, May 20, 2025 (GLOBE NEWSWIRE) — Partners Value Investments Inc. (the “Company”, TSX: PVF.WT, PVF.PR.V, PVF.A) announced today its financial results for the three months ended March 31, 2025. All amounts are stated in U.S. dollars.
The Company recorded net income of $972 million for the three months ended March 31, 2025, compared to a net loss of $175 million in the prior year quarter. The increase in income was primarily due to current period remeasurement gains of $953 million associated with the retractable common shares compared to remeasurement losses of $214 million in the prior year quarter. The Company’s retractable common shares are classified as liabilities due to their cash retraction feature. The remeasurement gains or losses in a given period are driven by the respective depreciation or appreciation of the Partnership unit price as the retractable shares are recognized at fair value based on the quoted price of the Partnership’s Equity LP units. During the quarter, the Partnership unit price decreased by $13.71 compared to an increase of $3.11 in the prior year quarter.
Excluding retractable share and warrant liability remeasurement gains and losses, and dividends paid on retractable shares, Adjusted Earnings for the Company was $30 million for the three months ended March 31, 2025, compared to Adjusted Earnings of $34 million in the prior year quarter. Adjusted Earnings were lower in the current quarter as higher investment income and valuations gains were more than offset by the absence of foreign currency gains and tax recoveries recognized in the prior year quarter.
As at March 31, 2025, the market prices of a Brookfield Corporation (“BN”, NYSE/TSX: BN) and Brookfield Asset Management Ltd. (“BAM”, NYSE/TSX: BAM) share were $52.41 and $48.45, respectively. As at May 20, 2025, the market prices of a BN and BAM share were $58.98 and $58.82, respectively.
Consolidated Statements of Operations
| (Unaudited) For the three months ended March 31 (Thousands, US dollars) |
|||||||||||||||
| 2025 | 2024 | ||||||||||||||
| Investment income | |||||||||||||||
| Dividends | $ | 30,125 | $ | 26,685 | |||||||||||
| Other investment income | 7,177 | 4,035 | |||||||||||||
| 37,302 | 30,720 | ||||||||||||||
| Expenses | |||||||||||||||
| Operating expenses | (1,131 | ) | (2,150 | ) | |||||||||||
| Financing costs | (10,062 | ) | (8,179 | ) | |||||||||||
| Retractable preferred share dividends | (8,380 | ) | (8,240 | ) | |||||||||||
| (19,573 | ) | (18,569 | ) | ||||||||||||
| Other items | |||||||||||||||
| Investment valuation gains | 7,212 | 924 | |||||||||||||
| Retractable share remeasurement gains (losses) | 952,569 | (213,630 | ) | ||||||||||||
| Warrant liability remeasurement (losses) gains | (3,267 | ) | 9,926 | ||||||||||||
| Amortization of deferred financing costs | (912 | ) | (884 | ) | |||||||||||
| Foreign currency gain | 115 | 12,453 | |||||||||||||
| Current tax (expense) recovery | (361 | ) | 8,069 | ||||||||||||
| Deferred tax expense | (1,102 | ) | (4,158 | ) | |||||||||||
| Net income (loss) | $ | 971,983 | $ | (175,149 | ) | ||||||||||
Financial Profile
The Company’s principal investments are its interest in 121 million Class A Limited Voting Shares of BN and approximately 31 million Class A Limited Voting Shares of BAM. This represents approximately an 8% interest in BN and a 2% interest in BAM as at March 31, 2025. In addition, the Company owns a diversified investment portfolio of marketable securities and private fund interests.
The information in the following table has been extracted from the Company’s Consolidated Statements of Financial Position:
Consolidated Statements of Financial Position
| (Unaudited) As at (Thousands, US dollars) |
March 31, 2025 |
December 31, 2024 |
|||||||
| Assets | |||||||||
| Cash and cash equivalents | $ | 308,044 | $ | 156,952 | |||||
| Accounts receivable and other assets | 77,882 | 69,776 | |||||||
| Investment in Brookfield Corporation 1 | 6,339,885 | 6,949,656 | |||||||
| Investment in Brookfield Asset Management Ltd.2 | 1,492,635 | 1,669,488 | |||||||
| Investment in Brookfield Wealth Solutions Ltd.3 | 428,460 | 471,651 | |||||||
| Other investments carried at fair value | 655,069 | 669,397 | |||||||
| $ | 9,301,975 | $ | 9,986,920 | ||||||
| Liabilities and Equity | |||||||||
| Accounts payable and other liabilities | $ | 44,964 | $ | 42,824 | |||||
| Corporate borrowings | 208,094 | 208,168 | |||||||
| Preferred shares4 | 838,560 | 703,044 | |||||||
| Retractable common shares | 6,360,356 | 7,312,467 | |||||||
| Exchangeable shares | 282,186 | — | |||||||
| Warrant liability | 497,252 | 494,710 | |||||||
| Deferred tax liability | 9,469 | 7,933 | |||||||
| 8,240,881 | 8,769,146 | ||||||||
| Equity | |||||||||
| Accumulated deficit | (6,130,077 | ) | (6,821,786 | ) | |||||
| Accumulated other comprehensive income | 7,181,112 | 8,027,580 | |||||||
| Non-controlling interests | 10,059 | 11,980 | |||||||
| $ | 9,301,975 | $ | 9,986,920 | ||||||
For further information, contact Investor Relations at ir@pvii.ca.
Note: This news release contains “forward-looking information” within the meaning of Canadian provincial securities laws and “forward-looking statements” within the meaning of applicable Canadian securities regulations. The words “potential” and “estimated” and other expressions which are predictions of or indicate future events, trends or prospects and which do not relate to historical matters, identify forward-looking information.
Although the Company believes that its anticipated future results, performance or achievements expressed or implied by the forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on forward-looking statements and information because they involve known and unknown risks, uncertainties and other factors, many of which are beyond its control, which may cause the actual results, performance or achievements of the Company to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements and information.
Factors that could cause actual results to differ materially from those contemplated or implied by forward‐looking statements and information include, but are not limited to: the financial performance of Brookfield Corporation, the impact or unanticipated impact of general economic, political and market factors; the behavior of financial markets, including fluctuations in interest and foreign exchanges rates; limitations on the liquidity of our investments; global equity and capital markets and the availability of equity and debt financing and refinancing within these markets; strategic actions including dispositions; changes in accounting policies and methods used to report financial condition (including uncertainties associated with critical accounting assumptions and estimates); the effect of applying future accounting changes; business competition; operational and reputational risks; technological change; changes in government regulation and legislation; changes in tax laws; risks associated with the use of financial leverage; catastrophic events, such as earthquakes and hurricanes; the possible impact of international conflicts and other developments including terrorist acts; and other risks and factors detailed from time to time in the Company’s documents filed with the securities regulators in Canada.
The Company cautions that the foregoing list of important factors that may affect future results is not exhaustive. When relying on the Company’s forward-looking statements and information, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Except as required by law, the Company undertakes no obligation to publicly update or revise any forward-looking statements and information, whether written or oral, that may be as a result of new information, future events or otherwise.
Source: United States House of Representatives – Congresswoman Marcy Kaptur (OH-09)
Washington, DC — Representatives Marcy Kaptur (OH-09), Ro Khanna (CA-17), Anna Paulina Luna (FL-13), and Andy Biggs (AZ-05) introduced the bipartisan Global Fairness in Drug Pricing Act to codify the core provisions of President Trump’s Executive Order into law — ensuring lasting, enforceable reform that permanently delivers lower prices to Americans.
Americans pay the highest prescription drug prices in the world — in some cases, up to ten times more than patients in other comparably developed nations for the same exact medications. President Trump’s executive order, while a step forward, could be tied up in the courts and delayed indefinitely without action from Congress.
“It’s time to stand up to drug companies who are more worried about bolstering profits for their Wall Street investors, than making sure people can afford life-saving medication. The predatory pricing practices of giant, largely faceless, pharmaceutical corporations causes undue burden on Americans just trying their best just to get by,” said Congresswoman Marcy Kaptur (OH-09). “There is no reason my constituents should pay more for their medicine than our Canadian neighbors 59 miles away across our northern border. Our effort to guarantee lowest possible pricing will benefit the well-being of tens of millions of Americans. I’m grateful to Congressman Khanna, Congresswoman Luna, and Congressman Biggs for helping lead this bipartisan effort for the American people who need all the help they can get in lowering their prescription drug costs.”
“Americans are getting ripped off. It’s deeply unfair that we’re paying significantly more for the same prescription drugs than people in other countries,” said Congressman Ro Khanna (CA-17). “Pharmaceutical companies are raking in Billions while patients are rationing their medications or going into crushing debt to get the prescriptions they need. There is bipartisan outrage, and Congress must come together to act. I’m proud to introduce this bipartisan bill with Reps. Luna, Kaptur, and Biggs to lower prices for Americans.”
“For decades, Big Pharma has lined its pockets by ripping off American consumers. Their extraordinarily profitable racket overcharged desperate Americans for life-saving medicine, while charging foreign consumers more reasonable prices,” said Congresswoman Anna Paulina Luna FL-13). “I’m proud to reach across the aisle to codify President Trump’s executive order, which put an end to this disgusting practice. Congress must make sure that pharmaceutical companies are never allowed to extort the sick and needy again.”
The Global Fairness in Drug Pricing Act legislation would:
Require the Department of Commerce and USTR to assess policies that force Americans to subsidize global R&D or suppress fair pricing abroad.
# # #
Source: GlobeNewswire (MIL-OSI)
CALGARY, Alberta, May 20, 2025 (GLOBE NEWSWIRE) — Helium Evolution Incorporated (TSXV:HEVI) (“HEVI” or the “Company“), a Canadian-based helium exploration company focused on developing assets in southern Saskatchewan, today announced the filing of the Company’s interim condensed financial statements and associated management’s discussion and analysis for the three months ended March 31, 2025 (the “Q1 Report”).
Complete details of the Q1 Report are available on SEDAR+ at www.sedarplus.ca, and on HEVI’s website.
Three Months Ended March 31, 2025 Highlights
| Three months ended | ||||||
| Tabular amounts in thousands of Canadian Dollars, except share and per share amounts |
March 31, 2025 |
March 31, 2024 |
||||
| Financial | ||||||
| Net loss | 675 | 239 | ||||
| Net loss per share, basic and diluted | 0.01 | 0.00 | ||||
| Cash | 3,004 | 5,304 | ||||
| Working capital | 1,966 | 4,992 | ||||
| Total assets | 11,683 | 11,293 | ||||
| Total liabilities | 1,500 | 872 | ||||
| Weighted average shares outstanding | ||||||
| Basic and diluted1 | 97,129,085 | 96,033,974 | ||||
| 1The weighted average number of common shares outstanding is not increased for outstanding stock options and warrants when the effect is anti-dilutive. | ||||||
During the first quarter of 2025, HEVI maintained its focus on disciplined operational execution, closing the quarter with $2.0 million in working capital and a strong cash position. Subsequent to quarter-end, the Company completed or announced equity financings totaling approximately $3.4 million, further strengthening its balance sheet and supporting planned development and drilling initiatives for the remainder of 2025.
Operationally, the Company drilled four wells in the Mankota area during the first quarter of 2025, in partnership with North American Helium Inc. (“NAH”), two of which discovered helium. To date, HEVI and NAH have successfully drilled six helium discovery wells, further substantiating the potential of the region.
Building upon this momentum, HEVI and NAH, are progressing with additional development plans in the Mankota area. Notably, NAH has secured a license for a facility (the “Soda Lake Facility”) to tie-in the 9-35 well, the 10-1 well and the 10-36 well in the northern part of the discovery, as shown on the map above. The Soda Lake Facility is expected to be operational in the fourth quarter of 2025, marking a significant milestone for HEVI with its first helium sales volumes. Additional drilling is planned for the second half of 2025 to advance the project further.
Stay Connected to Helium Evolution
Shareholders and other parties interested in learning more about the Helium Evolution opportunity are encouraged to visit the Company’s website, which includes an updated corporate presentation, and are invited to follow the Company on LinkedIn and X for ongoing corporate updates and helium industry information. Helium Evolution also provides an extensive, commissioned ‘deep-dive’ research report prepared by a third party whose background includes serving as a research analyst for several bank-owned and independent investment dealers.
About Helium Evolution Incorporated
Helium Evolution is a Canadian-based helium exploration company holding the largest helium land rights position in North America among publicly-traded companies, focused on developing assets in southern Saskatchewan. The Company has over five million acres of land under permit near proven discoveries of economic helium concentrations which will support scaling the exploration and development efforts across its land base. HEVI’s management and board are executing a differentiated strategy to become a leading supplier of sustainably-produced helium for the growing global helium market.
For further information, please contact:
Statement Regarding Forward-Looking Information
This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.
Forward-looking statements in this document include statements regarding the Company’s expectations regarding the Soda Lake Facility including timing, tie-in of wells to the Soda Lake Facility, the Company’s expectations regarding scalable helium production from its land generally, the Company and/or NAH’s plans to drill more wells, completion of the financing as announced, the Company becoming a leading supplier of sustainably-produced helium, the Company’s belief regarding becoming a key player in the North American helium industry, the Company’s beliefs regarding growth of the global helium market and other statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: NAH may be unsuccessful in drilling commercially productive wells; the Company and/or NAH may choose to defer, accelerate or abandon its exploration and development plans including future drilling; the Company and/or NAH may determine not to bring the helium wells onto production; the Company and/or NAH may abandon, defer or accelerate plans and decisions regarding the Soda Lake Facility; new laws or regulations and/or unforeseen events could adversely affect the Company’s business and results of operations; stock markets have experienced volatility that often has been unrelated to the performance of companies and such volatility may adversely affect the price of the Company’s securities regardless of its operating performance; the financings may not close as anticipated or at all; risks generally associated with the exploration for and production of resources; the uncertainty of estimates and projections relating to expenses and the Company’s working capital position; constraint in the availability of services; commodity price and exchange rate fluctuations; adverse weather or break-up conditions; and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures.
When relying on forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and risks other uncertainties and potential events. The Company 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 reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
An infographic accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ade519ed-7912-4ca5-8b3b-1edfd33a0e89
Source: GlobeNewswire (MIL-OSI)
Tender Offer Amended to up to 9.9% of Class A Shares
Tender Offer Extended Until 5:00pm Eastern Time on June 3, 2025
ST. HELIER, Jersey, May 20, 2025 (GLOBE NEWSWIRE) — Plantro Ltd. (“Plantro”) today announced that it is extending and amending its ongoing all-cash tender offer (the “Tender Offer”) to acquire class A limited voting shares (the “Class A Shares”) in the capital of Information Services Corporation (TSX: ISC) (“ISC” or the “Company”).
Pursuant to the terms of a third amended and restated offer document dated May 20, 2025 (the “Offer Document”), Plantro has increased the consideration under the Tender Offer to $30 per Class A Share, payable in cash (the “Tender Price”). Plantro has also extended the expiry date of the Tender Offer to 5:00pm (Eastern Time) on June 3, 2025, unless the Tender Offer is further varied, extended, or withdrawn in accordance with the terms of the Offer Document (the “Expiry Time”). The maximum number of Class A Shares to be purchased under the Tender Offer has been reduced to 1,398,887 Class A Shares, reflecting that, together with the 435,150 Class A Shares Plantro currently owns, the Tender Offer is for a maximum of 9.9% of ISC’s issued and outstanding Class A Shares.
Due in part to the extreme lack of trading liquidity of the Class A Shares, Plantro reduced the size of the Tender Offer and increased the Tender Price. The Tender Offer is an opportunity for shareholders weary of the ISC board of directors’ continued refusal to take actions to unlock value for shareholders, to realize full and fair value for their Class A Shares.
Plantro notes that the Tender Price of $30 is above the 12-month price target of $28 per Class A Share maintained by the sell-side analyst for ISC’s primary financial advisor and equals the 12-18 month price target provided by a sell-side analyst of the other major Canadian investment bank providing research coverage of the Company.
Finally, based on Plantro’s calculations, the Tender Price values the Company at approximately 20.3x Price to LTM EPS, 19.0x Enterprise Value to LTM Levered Free Cash Flow and 9.6x Enterprise Value to LTM EBITDAi.
Shareholders are urged to consider this attractive opportunity to receive certainty of value and all-cash consideration.
Shareholders of ISC who have already validly deposited and not withdrawn their Class A Shares are not required to take any further action to accept the Tender Offer and will be deemed to have deposited their Class A Shares at the increased Tender Price. No Class A Shares will be taken up and paid for by Plantro pursuant to the Tender Offer until after the Expiry Time.
Other than as set out herein, all other terms of the Tender Offer remain unchanged. Details of the Tender Offer, including instructions for tendering Class A Shares, are included in the Offer Document. The Offer Document and the third amended and restated letter of transmittal dated May 20, 2025 (together with the Offer Document, the “Offer Documents”) will be filed and made available on ISC’s SEDAR+ profile at www.sedarplus.ca. Shareholders of ISC should carefully read the Offer Documents prior to making a decision with respect to the Tender Offer.
About Plantro
Plantro is a privately held company, with an established track record of making successful investments in undervalued and high quality legal, financial, and information services businesses.
Shareholder Questions
Shareholders of ISC who have questions with respect to the Tender Offer, or who need assistance in depositing their Class A Shares, should please contact the depositary or the information agent for the Tender Offer at the contact details below:
Depositary: Odyssey Trust Company
Toll Free (US & Canada): 1-888-290-1175
Calls (All Regions): 587-885-0960
Email: corp.actions@odysseytrust.com
Information Agent: Carson Proxy
North America Toll Free: 1-800-530-5189
Local and Text: 416-751-2066
Email: info@carsonproxy.com
Cautionary Statement Regarding Forward-Looking Information
This press release may contain forward-looking information and forward-looking statements within the meaning of applicable securities laws. Specifically, certain statements contained in this press release, including without limitation statements regarding the Tender Offer, taking up and paying for Class A Shares deposited under the Tender Offer, and the expiry of the Tender Offer, contain “forward-looking information” and are prospective in nature. In some cases, but not necessarily in all cases, forward-looking statements can be identified by the use of forward looking terminology such as “plans”, “targets”, “expects” or “does not expect”, “is expected”, “an opportunity exists”, “is positioned”, “estimates”, “intends”, “assumes”, “anticipates” or “does not anticipate” or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved”. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking statements.
Statements containing forward-looking information are not based on historical facts, but rather on current expectations and projections about future events and are therefore subject to risks and uncertainties that could cause actual results to differ materially from the future outcomes expressed or implied by the statements containing forward-looking information.
Although Plantro believes that the expectations reflected in statements containing forward-looking information herein made by it (and not, for greater certainty, any forward-looking statements attributable to the Company) are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements. Material factors or assumptions that were applied in formulating the forward-looking information contained herein include the assumption that the business and economic conditions affecting the Company’s operations will continue substantially in the current state, including, without limitation, with respect to industry conditions, general levels of economic activity, continuity and availability of personnel, local and international laws and regulations, foreign currency exchange rates and interest rates, inflation, taxes, that there will be no unplanned material changes to the Company’s operations, and that the Company’s public disclosure record is accurate in all material respects and is not misleading (including by omission).
Plantro cautions that the foregoing list of material factors and assumptions is not exhaustive. While these factors and assumptions are considered by Plantro to be appropriate and reasonable in the circumstances as of the date of this press release, they are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, levels of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking information. Many of these assumptions are based on factors and events that are not within the control of Plantro and there is no assurance that they will prove correct.
Important facts that could cause outcomes to differ materially from those expressed or implied by such forward-looking information include, among other things, actions taken by the Company in respect of the Tender Offer, the content of subsequent public disclosures by the Company, the failure to satisfy the conditions to the Tender Offer, general economic conditions, legislative or regulatory changes and changes in capital or securities markets. If any of these risks or uncertainties materialize, or if the opinions, estimates or assumptions underlying the forward-looking information prove incorrect, actual results or future events might vary materially from those anticipated in the forward-looking information. Although Plantro has attempted to identify important risk factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other risk factors not presently known to Plantro or that Plantro presently believes are not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking information.
Statements containing forward-looking information in this press release are based on Plantro’s beliefs and opinions at the time the statements are made, and there should be no expectation that such forward-looking information will be updated or supplemented as a result of new information, estimates or opinions, future events or results or otherwise, and Plantro disclaims any obligation to do so, except as required by applicable law. All of the forward-looking information contained in this press release is expressly qualified by the foregoing cautionary statements.
Non-IFRS Measures
This press release makes reference to certain non-IFRS financial measures. These measures are not recognized measures under IFRS, do not have a standardized meaning prescribed by IFRS and may not be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement IFRS financial measures by providing further understanding of the Company’s results of operations from the Company’s perspective as disclosed by the Company in its public disclosure. The Company’s definitions of non-IFRS measures may not be the same as the definitions for such measures used by other companies or investors in their reporting. Non-IFRS measures have limitations as analytical tools and should not be considered in isolation nor as a substitute for analysis of the Company’s financial information reported under IFRS. Please refer to the Company’s public disclosure documents, which are available on the Company’s profile on SEDAR+ at www.sedarplus.ca for further details regarding its use of non-IFRS measures.
Media Contact: Gagnier Communications
Riyaz Lalani / Dan Gagnier
Email: Plantro@gagnierfc.com
i LTM is last twelve months to March 31, 2025. EPS equates to the sum of ISC’s Earnings per share, diluted for the past four quarters; Levered Free Cash Flow is equal to ISC’s Net cash flow provided by operating activities less: Additions to property, plant and equipment, Additions to intangible assets, Interest paid and Interest paid on lease obligations net of Interest received, and Principal repayments on lease obligations; EBITDA is equal to Net income before Depreciation and amortization, Net finance expense and Income tax expense.
Source: United Nations secretary general
Vice-Chair, Excellencies,
Thank you very much, our Vice-Chair of ECOSOC.
Excellencies,
I continue to deeply appreciate the opportunity to join this segment – as the DSG, but much more importantly as the chair of the UN Sustainable Development Group, that represents over 38 agencies, funds and programs, and does an enormous amount of work to try to fulfil those ambitions of the SDGs and many more. Therefore, this segment really does embody the partnership needed to strengthen the UN development system.
I would like to thank the ECOSOC Bureau, especially the Vice-Chair Ambassador Szcserski, and its members for your continued engagement and leadership. I would also like to give a special welcome to our youth representative, Chelsea Antwan. We look very much forward to hearing your voice.
The Operational Activities for Development segment of the Economic and Social Council still remains one of the most significant segments of ECOSOC.
This segment plays a vital oversight role in reviewing how the United Nations development system is delivering on the promise to support countries in delivering on the Sustainable Development Goals.
We are meeting at a pivotal moment, where the stakes could not be higher. Last year, member States were united in the Pact for the Future and in their commitment to strengthen collective efforts to turbocharge the full implementation of the 2030 Agenda for Sustainable Development.
Following this momentous signal of unity, Member States adopted the 2024 Quadrennial Comprehensive Policy Review, the QCPR—a landmark resolution that sets the strategic direction for the UN development system over the next four years.
The QCPR reflects a shared ambition to build on the progress that has been achieved since the 2018 repositioning of the development system.
The 2024 QCPR reaffirms the central role of sustainable development in the work of the United Nation – and, of course, the urgency of accelerating action to meet the immediate and longer-term needs of countries.
Member States gave critical guidance to strengthen coordination across the system; challenged us to deepen transparency and accountability and sought to breathe new life into the ECOSOC OAS Segment.
We will rise to your challenge. And in return, we ask that you continue to deepen your engagement in this session.
OAS is a critical platform for Member States to hold the system accountable for results, and to share the lessons learned, and offer guidance that helps translate policy into impact on the ground.
This segment is key to ensuring that Resident Coordinators have the tools and the backing they need to lead, and that UN Country Teams are equipped to deliver coherent support, and that development system is more strategic, efficient, effective, and results oriented.
I would like to underscore here that Resident Coordinators coordination, convening and leveraging for the scale and the urgency that is needed to achieve the SDGs. But at the same time, the kind of support we would need for UN Country Teams that will have to rise to operationalize that support that is needed for our countries.
We hope to see UN80 in the coming weeks and months playing a role in making that more efficient and effective.
Quality funding and financing continue to be significant enablers of a unified country team. The 6 transformative pathways are a means of enabling an effective and strategic response in any country.
Critical investments with a catalytic impact are needed across food systems, energy access and affordability, digital connectivity, education, jobs and social protection, and climate change, biodiversity loss, and pollution. The reverberating impact of these investments are needed now more than ever.
UN80 is a further opportunity to strengthen our work in this respect.
I look forward to your engagement throughout this week as we collectively seek to drive forward ambition on the SDGs that will leave no one behind.
Together, we have the opportunity—and we have the responsibility—to ensure that the UN development system delivers fully on the promise for people, for planet, as we work towards a safer, more sustainable and prosperous world.
Over the course of the next year, there are further opportunities for the international community to ground multilateral ambition.
Through the Fourth International Conference on Financing for Development, we seek to agree steps that will unlock large-scale SDG investment to put the goals back on track, and to reform the international financial architecture to make it more inclusive and effective in dealing with the shocks and the crises. And we are watching closely the ambitions that we hope will come out of the current G7 finance ministers meeting in Canada.
The Food Systems Stocktake +4 countries will come together to discuss how to move from plans to action, unlocking strategic investments for food systems transformation across all its dimensions –jobs, nutrition, adaptation to climate change in partnership with the private sector and IFIs. Our co-hosts in Italy and Ethiopia are driving this forward on the continent and beyond.
In the World Social Summit, we look to go beyond what was agreed in Copenhagen and agree to commitments to strengthen the three pillars of social development, as articulated in the SDGs. And we look forward to seeing all of you in Doha.
At COP 30 later this year, we seek to bridge the gap between Baku and Belem by agreeing on actions that can mobilize the $1.3 trillion annually in climate finance by 2035. We will build on the updated Nationally Determined Contribution plans presented by Member States, mainstreaming climate adaptation, mitigation and resilience plans across all sectors of the economy.
Our host, Brazil, has already begun that strategic push with getting the economies, and the green economy, effectively up and running.
I hope that you take most out of this segment, as we will be listening and we will be taking onboard your concerns, your reflections, your ideas, asking us the hard questions, sharing your guidance, and pressing us to go even further.
As I come out of Angola where we held a meeting of all the RCs in Africa, it was evident that progress has been made, but the expectations are so much higher given the crisis that we find ourselves in. I believe we have the tools, we have the Members States commitments and frameworks to help us navigate this.
We are determined to work with you on this as we move forward towards achieving Agenda 2030.
Thank you.
Source: GlobeNewswire (MIL-OSI)
SAN DIEGO, May 20, 2025 (GLOBE NEWSWIRE) — Quick Custom Intelligence (QCI), a leader in advanced casino management solutions, is excited to announce that Prairie Band Casino has chosen the QCI Enterprise Platform to enhance its data-driven operations. This significant move from Viz Explorer to QCI demonstrates Prairie Band Casino & Resort’s commitment to improving the guest experience by leveraging superior analytics and real-time operational insights.
As a prominent gaming destination, Prairie Band Casino & Resort is known for offering exceptional service to its patrons. With the adoption of the QCI Enterprise Platform, the casino will now utilize cutting-edge analytics, player development tools, and streamlined processes to drive performance optimization and guest satisfaction.
John Tuckwin, Marketing Director for Prairie Band Casino & Resort, shared his enthusiasm for the transition: “Our switch to the QCI Enterprise Platform reflects our ongoing mission to provide an exceptional gaming experience. The platform’s ability to deliver real-time data and comprehensive analytics will allow us to make informed decisions that will enhance both our operational efficiency and the overall satisfaction of our guests. This partnership signifies a step forward in Prairie Band Casino & Resort’s goal to stay at the forefront of gaming technology, further solidifying its position as a premier destination in the region.”
Andrew Cardno, CTO of QCI, expressed his enthusiasm for the partnership: “We are thrilled to welcome Prairie Band Casino & Resort to our growing network of gaming properties. Their decision to implement the QCI Enterprise Platform underscores their commitment to innovation, and we look forward to helping them streamline their operations and maximize revenue opportunities.”
Melissa Chiaurro, President of Viz Explorer, also commented on the collaboration:
“We are thrilled to announce our extended partnership with Prairie Band Casino & Resort and their dedicated team. By integrating the QCI Enterprise Platform, they are poised to gain deeper insights into their operations, enabling more informed decision-making and enhanced customer experiences. This collaboration underscores our commitment to supporting Prairie Band Casino & Resort in achieving their business objectives and delivering exceptional service to their guests. We look forward to the continued success of this partnership.”
ABOUT Prairie Band Casino & Resort
Prairie Band Casino & Resort opened January of 1998 and is owned and operated by the Prairie Band Potawatomi Nation. It is located on tribal land just north of Topeka, Kansas. The casino offers more than 1,100 slot machines including Class II games; a 400-seat bingo hall; and 25 table games including blackjack, craps and roulette. There are four dining options, lobby bar, luxury hotel, on-site convenience store and RV park. The 12,000-square-foot Great Lakes Ballroom plays host to concerts and other live performances, and the award-winning Firekeeper Golf Course is only steps away.
ABOUT QCI
Quick Custom Intelligence (QCI) has pioneered the revolutionary QCI AGI Platform, an artificial intelligence platform that seamlessly integrates player development, marketing, and gaming operations with powerful, real-time tools designed specifically for the gaming and hospitality industries. Our advanced, highly configurable software is deployed in over 250 casino resorts across North America, Australia, New Zealand, Canada, Latin America, and Europe. The QCI AGI Platform, which manages more than $35 billion in annual gross gaming revenue, stands as a best-in-class solution, whether on-premises, hybrid, or cloud-based, enabling fully coordinated activities across all aspects of gaming or hospitality operations. QCI’s data-driven, AI-powered software propels swift, informed decision-making vital in the ever-changing casino industry, assisting casinos in optimizing resources and profits, crafting effective marketing campaigns, and enhancing customer loyalty. QCI was co-founded by Dr. Ralph Thomas and Mr. Andrew Cardno and is based in San Diego, with additional offices in Las Vegas, St. Louis, Denver, Dallas, and Phoenix. Main phone number: (858) 299.5715. Visit us at www.quickcustomintelligence.com.
ABOUT Andrew Cardno
Andrew Cardno is a distinguished figure in the realm of artificial intelligence and data plumbing. With over two decades spearheading private Ph.D. and master’s level research teams, his expertise has made significant waves in data tooling. Andrew’s innate ability to innovate has led him to devise numerous pioneering visualization methods. Of these, the most notable is the deep zoom image format, a groundbreaking innovation that has since become a cornerstone in the majority of today’s mapping tools. His leadership acumen has earned him two coveted Smithsonian Laureates, and teams under his mentorship have clinched 40 industry awards, including three pivotal gaming industry transformation awards. Together with Dr. Ralph Thomas, the duo co-founded Quick Custom Intelligence, amplifying their collaborative innovative capacities. A testament to his inventive prowess, Andrew boasts over 150 patent applications.
Across various industries—be it telecommunications with Telstra Australia, retail with giants like Walmart and Best Buy, or the medical sector with esteemed institutions like City Of Hope and UCSD—Andrew’s impact is deeply felt. He has enriched the literature with insights, co-authoring eight influential books with Dr. Thomas and contributing to over 100 industry publications. An advocate for community and diversity, Andrew’s work has touched over 100 Native American Tribal Resorts, underscoring his expansive and inclusive professional endeavors.
Contact:
Laurel Kay, Quick Custom Intelligence
Phone: 858-349-8354
Source: GlobeNewswire (MIL-OSI)
TORONTO, May 20, 2025 (GLOBE NEWSWIRE) — POET Technologies Inc. (“POET” or the “Corporation“) (TSXV: PTK; NASDAQ: POET), the designer and developer of the POET Optical Interposer™, Photonic Integrated Circuits (PICs) and light sources for the data center, tele-communication and artificial intelligence markets, is pleased to announce that, further to its news release dated April 28, 2025, in response to significant interest from a strategic investor and to allow for a more timely execution, it proposes to amend the terms of its previously announced non-brokered public offering to, among other things, increase the offering size to US$30,000,000 and make certain ancillary revisions to the offering structure, which will now be conducted as a non-brokered private placement (as amended, the “Offering”). The Offering Price (as defined herein) remains unchanged and represents a premium to the prevailing market price of the Common Shares on the TSX Venture Exchange (the “Exchange”).
In the revised Offering, the Corporation expects to issue 6,000,000 common shares of the Corporation (the “Common Shares”) and one common share purchase warrant (the “Warrant”) exercisable to acquire up to 6,000,000 Common Shares (the “Warrant Shares”) at a price of C$8.32 per Warrant Share for a period of five years from the date of issue. The combined price of one Common Share and the Warrant (in respect of one Common Share) will be equal to US$5.00 (the “Offering Price”).
The Corporation intends to use the net proceeds of the Offering for working capital and general corporate purposes. No commission or finder’s fee will be paid by the Corporation, and no underwriter or sales agent will be engaged by the Corporation in connection with the Offering. The Corporation expects to complete the Offering on or about May 22, 2025.
All Common Shares and Warrants issued under the Offering are expected to be distributed outside of Canada in reliance on OSC Rule 72-503 – Distributions Outside of Canada and, accordingly, all Common Shares, Warrants and Warrant Shares issued under the Offering will not be subject to a Canadian statutory hold period in accordance with applicable Canadian securities laws. The Offering remains subject to the final acceptance of the Exchange.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About POET Technologies Inc.
POET is a design and development company offering high-speed optical engines, light source products and custom optical modules to the artificial intelligence systems market and to hyperscale data centers. POET’s photonic integration solutions are based on the POET Optical Interposer™, a novel, patented platform that allows the seamless integration of electronic and photonic devices into a single chip using advanced wafer-level semiconductor manufacturing techniques. POET’s Optical Interposer-based products are lower cost, consume less power than comparable products, are smaller in size and are readily scalable to high production volumes. In addition to providing high-speed (800G, 1.6T and above) optical engines and optical modules for AI clusters and hyperscale data centers, POET has designed and produced novel light source products for chip-to-chip data communication within and between AI servers, the next frontier for solving bandwidth and latency problems in AI systems. POET’s Optical Interposer platform also solves device integration challenges across a broad range of communication, computing and sensing applications. POET is headquartered in Toronto, Canada, with operations in Singapore, Penang, Malaysia and Shenzhen, China. More information about POET is available on our website at www.poet-technologies.com
Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking information” (within the meaning of applicable Canadian securities laws) and “forward-looking statements” (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995). Such statements or information are identified with words such as “anticipate”, “believe”, “expect”, “plan”, “intend”, “potential”, “estimate”, “propose”, “project”, “outlook”, “foresee” or similar words suggesting future outcomes or statements regarding any potential outcome. Such statements include, without limitation, the Corporation’s ability to complete the Offering on the terms announced and within the expected timeline, the Corporation’s expectations with respect to its products, the scalability of the POET Optical Interposer and the success of the Corporation’s products, the Corporation’s use of proceeds for the Offering and the Corporation’s ability to obtain the final approval of the Exchange. Such forward-looking information or statements are based on a number of risks, uncertainties and assumptions which may cause actual results or other expectations to differ materially from those anticipated and which may prove to be incorrect. Assumptions have been made regarding, among other things, management’s expectations regarding the size of the market for its products, the capability of its joint venture to produce products on time and at the expected costs, the performance and availability of certain components, and the success of its customers in achieving market penetration for their products. Actual results could differ materially due to a number of factors, including, without limitation, the attractiveness of the Corporation’s product offerings, performance of its technology, the performance of key components, and ability of its customers to sell their products into the market. For further information concerning these and other risks and uncertainties, refer to the Corporation’s filings on SEDAR+ at www.sedarplus.ca and on the website of the U.S. Securities and Exchange Commission at www.sec.gov. Although the Corporation believes that the expectations reflected in the forward-looking information or statements are reasonable, prospective investors in the Corporation’s securities should not place undue reliance on forward-looking statements because the Corporation can provide no assurance that such expectations will prove to be correct. Forward-looking information and statements contained in this news release are as of the date of this news release and the Corporation assumes no obligation to update or revise this forward-looking information and statements except as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. 120 Eglinton Avenue, East, Suite 1107, Toronto, ON, M4P 1E2- Tel: 416-368-9411 – Fax: 416-322-5075
Source: World Trade Organization
The agreement on next steps brings the Steering Committee closer to opening its first Call for Proposals. The Fund will receive funding requests for project grants that will support developing and least developed country (LDC) members to implement the Agreement provided they have ratified it.
The Committee welcomed Barbados, The Gambia, Haiti, Mauritius, Peru, the Philippines, Seychelles, and Sierra Leone as new members to represent beneficiary members while acknowledging the contributions of Djibouti, Fiji, Gabon, Ivory Coast, Nigeria, Peru, Saint Lucia, and Senegal, who served on the Committee since January 2024.
Donor representatives to the Fish Fund will rotate at a later stage. Both donors and beneficiaries may rotate their delegates at any time, provided that at least two LDC members remain on the Committee. All Steering Committee members are required to serve a minimum term of one year.
Eligible and interested members will be able to submit calls for proposals when 101 WTO members have deposited their instruments of ratification. Currently, 99 WTO members have deposited their instruments. After the Call for Proposals is launched, the Secretariat of the Fish Fund will receive proposals for a period of approximately three months, after which all applications will be reviewed and submitted to the Steering Committee.
Deputy Director-General Angela Ellard said:
“It is a pleasure to open today’s meeting and see the tremendous progress made as we near entry into force. Everyone’s hard work – donors, beneficiaries, and partners – has paid off.
The Fund is ready to support the members that have deposited their instruments of ratification and, in so doing, committed to a more environmentally and economically sustainable future and healthier oceans.”
The Steering Committee also approved the Monitoring, Evaluation, and Learning (MEL) Framework for the Fish Fund, a key tool to support the effective implementation of future projects.
Known as the Fish Fund, the WTO Fisheries Subsidies Funding Mechanism was established under Article 7 of the WTO Agreement on Fisheries Subsidies, which was adopted at the 12th Ministerial Conference in 2022. Developing and LDC members that have ratified the Agreement are eligible to submit projects supporting implementation of the Agreement. The Fish Fund will operate in cooperation with relevant international organizations, such as the UN Food and Agriculture Organization (FAO), the International Fund for Agricultural Development (IFAD), and the World Bank.
This was the Steering Committee’s fifth meeting since the Fish Fund became ready to accept voluntary contributions from WTO members in November 2022. The contributing members thus far are Australia, Canada, the European Union, Finland, France, Germany, Iceland, Japan, the Republic of Korea, Liechtenstein, the Netherlands, New Zealand, Norway, Portugal, Spain, Sweden, the United Arab Emirates, and the United Kingdom.
A total of 111 ratifications from WTO members are needed for the Agreement to enter into force. So far,99 instruments of acceptance of the Agreement have been received. The full list is available here.
More information on the Fish Fund is available here.
Source: Government of Canada regional news
The Province is taking the necessary steps to ensure people continue to receive provincial disability and income assistance in the event of a labour dispute at Canada Post.
The contract between Canada Post and the Canadian Union of Postal Workers (CUPW) is expiring. CUPW has issued a 72-hour notice to begin strike activity on Friday, May 23, 2025, at midnight.
In preparation for the May 2025 cheque issue, the Ministry of Social Development and Poverty Reduction is working to ensure the distribution of payments is done in a timely manner and is incorporating lessons learned during the November-December 2024 strike. Despite the mail service disruptions during the 2024 strike, the ministry distributed 98% of monthly payments, aligning with normal distribution rates.
Income and disability assistance
It is vital that people receive their provincial income and disability assistance in a timely manner and the updated distribution plan ensures financial supports will be distributed.
All monthly cheques that are set to be mailed to clients and service providers will instead be sent directly to ministry offices for distribution.
Ministry clients and service providers who are unable to attend the ministry office to pick up their cheque can contact the ministry to make alternative distribution arrangements.
Approximately 88% of people will receive their payments by direct deposit, despite any potential Canada Post service disruption. For those who have not signed up for direct deposit, alternative options are available:
Senior’s Supplement
For seniors, primary financial supports are provided by the federal government through programs such as Old Age Security (OAS) and the Guaranteed Income Supplement (GIS). Any questions about delivery of these supports should be directed to the federal government through Service Canada at 1 800 277-9914
Through the provincial Senior’s Supplement, the B.C. government tops up federal assistance amounts for seniors with low incomes. The Senior’s Supplement ranges from $1 to $100 for singles and $2 to $220.50 for couples.
The provincial Senior’s Supplement, if paid by mailed cheques, will be delivered by Canada Post volunteers as part of the Socio-Economic Cheque Delivery program. This program prioritizes delivery to ensure essential benefits reach seniors who rely on them.
Concerns and contact information
Anyone concerned about not receiving their assistance cheque or Senior’s Supplement, or who has questions, is encouraged to contact the ministry at 1 866 866-0800 to discuss options. To make other arrangements for the Senior’s Supplement, recipients can also email: FASBSENI@gov.bc.ca
Learn More:
Locations and office hours of Ministry of Social Development and Poverty Reduction offices and Service BC offices offering ministry services are available here: https://www2.gov.bc.ca/gov/content?id=5658DF77EF6645308225C98B39112198
For more information about income assistance, visit: https://www2.gov.bc.ca/gov/content?id=618B0DF0FFF4468AA591F48F27E86D10
For more information about disability assistance, visit: https://www2.gov.bc.ca/gov/content?id=F0457B051B5346D284B1C586374CF2E1
For more information about the provincial Senior’s Supplement, visit: https://www2.gov.bc.ca/gov/content/family-social-supports/seniors/financial-legal-matters/income-security-programs/seniors-supplement
For more information about the federal assistance for seniors, such as OAS and GIS, visit: https://www.canada.ca/en/employment-social-development/campaigns/seniors.html
Drivers are advised of upcoming traffic-pattern changes on Highway 1, affecting westbound and eastbound lanes, near the 264th Street interchange.
Effective as early as Friday, May 23, 2025, weather permitting, westbound drivers exiting Highway 1 at 264th Street will be redirected to a new off-ramp that leads to a new signalized intersection, allowing drivers to turn left or right onto 264th Street.
As early as June 13, 2025, eastbound drivers exiting Highway 1 at 264th Street will also begin using a new off-ramp connecting to the new signalized intersection that will allow drivers to turn left or right onto 56th Avenue. Drivers continuing onto 264th Street will need to turn left onto 56th Avenue, then proceed to the signalized intersection at 56th Avenue and 264th Street to turn left or right.
The existing off-ramps for 264th Street will be permanently closed. Drivers will exit the highway approximately 300 metres (westbound) and 500 metres (eastbound) sooner than before.
These changes are needed for the construction of the 264th Street interchange and will be in effect until the new interchange opens, advancing the widening of Highway 1 through the Fraser Valley.
Drivers are reminded to obey all signs and posted speed limits.
For the most up-to-date traffic information, visit: https://www.drivebc.ca/
Source: Government of Canada News
Ottawa, Ontario, May 20, 2025—The Canadian International Trade Tribunal today determined that there is a reasonable indication that the dumping and subsidizing of polyethylene terephthalate originating in or exported from the People’s Republic of China and the Islamic Republic of Pakistan have caused injury to the domestic industry.
The Tribunal’s inquiry was conducted pursuant to the Special Import Measures Act as a result of the initiation of dumping and subsidizing investigations by the Canada Border Services Agency (CBSA). The CBSA will continue its investigations and, by June 17, 2025, will issue preliminary determinations.
The Tribunal is an independent quasi-judicial body that reports to Parliament through the Minister of Finance. It hears cases on dumped and subsidized imports, safeguard complaints, complaints about federal government procurement and appeals of customs and excise tax rulings. When requested by the federal government, the Tribunal also provides advice on other economic, trade and tariff matters.
US Senate News:
Source: United States Senator for Nevada Cortez Masto
Washington, D.C. – U.S. Senator Catherine Cortez Masto (D-Nev.) submitted a letter to the U.S. Department of Commerce in response to their Section 232 National Security Investigation of Imports of Processed Critical Minerals and their Derivative Products calling on the Trump Administration to take strategic action to protect, invest in, and strengthen America’s critical mineral supply chain. The Senator also expressed concern that the Administration’s recent tariff policy has undermined our economic and national security.
“First, critical minerals are deeply important to the economy of Nevada,” the Senator wrote. “It is not an understatement to say that the actions taken in this investigation could impact Nevada more than any other state in the country. Therefore, I encourage you to proceed in a cautious and consultative manner to ensure that any actions taken do not adversely impact my constituents and businesses. Second, I am concerned that President Trump’s trade actions to date work counter to U.S. economic and national security. Blanket tariffs on allies and the chaotic uncertainty of the administration’s trade policy undermine our ability to attract greater U.S. investment and strengthen U.S. critical mineral supply chains.”
Within Nevada is the “lithium loop” – a region within 250 miles of Reno where critical minerals are mined, extracted, and processed; electric vehicles and batteries are produced; and lithium batteries and other materials are recycled. The state has 19 times more lithium deposits than the next highest state, and Nevada is home to Albemarle’s Silver Peak facilities – the only facility with commercial-scale lithium production in the U.S.
“Instead of indiscriminate tariffs on allies, we should be imposing strategic tariffs on adversaries,” the Senator continued. “Instead of eliminating tax credits that catalyze investment and growth, we should be expanding tax credits to ensure America dominates the industries of the future. I stand ready to work with you and the administration on any policies that help Nevadans, particularly in these sectors and supply chains which are so key to my state’s economy.”
Read the full letter here.
Senator Cortez Masto has led efforts in Congress to strengthen our national security and supply chains. Earlier this year, the Senator demanded Secretary of Defense Hegseth and Secretary of the Treasury Bessent provide answers on the national security impacts of President Trump’s tariffs on Canadian goods. She has consistently blocked burdensome taxes on mining and wrote important provisions of the Bipartisan Infrastructure Law to bolster Nevada’s critical mineral supply chain. She’s also introduced bipartisan legislation to strengthen the domestic supply chain for rare-earth magnets, which are critical components of cell phones, computers, defense systems, and electric vehicles, but are almost exclusively made in China.
Botanical Beach in Juan de Fuca Park will be closed for 24 hours to provide time, space and privacy for members of the Pacheedaht First Nation to harvest marine resources and reconnect with an important part of their territory.
The temporary closure for recreational visitors begins at 4 p.m. on Saturday, May 24, and ends at 4 p.m. on Sunday, May 25, 2025. During this time, people can visit other day-use areas in Juan de Fuca Park, such as Mystic Beach, Sombrio Beach and China Beach.
Located near Port Renfrew, Botanical Beach is one of four main areas in Juan de Fuca Park, which spans 47 kilometres along the southern coast of Vancouver Island. The beach is known for tide pools that display a variety of marine flora and fauna, such as red, purple and orange starfish, sea urchins, white gooseneck barnacles, blue mussels, green sea anemones and sea cucumbers.
To Pacheedaht, Botanical Beach is known as “Big Wave Beach,” and the marine and intertidal resources it supports are at the heart of Pacheedaht territory and culture.
Historically, Pacheedaht had a village called li:xʷa, located just above Botanical Beach. The village facilitated Pacheedaht’s stewardship of the area and its rich marine resources that continue to sustain Pacheedaht culture. These resources are now challenging for members to access due to the popularity of Botanical Beach.
The temporary closure is part of a joint initiative by BC Parks and the Pacheedaht First Nation to collaboratively manage Juan de Fuca Park. For more information about the park, visit: https://bcparks.ca/juan-de-fuca-park/
Source: Royal Canadian Mounted Police
Clarenville RCMP is looking to arrest wanted man, 40-year-old Danny Cooper, of Princeton, NL, who is believed to be in St. John’s.
Cooper is wanted in relation to a large number of criminal offences, including:
A photo of Cooper is attached.
Anyone having information about the current location of Danny Cooper is asked to contact Clarenville RCMP at 709-466-3211. To remain anonymous, contact Crime Stoppers: #SayItHere 1-800-222-TIPS (8477), visit www.nlcrimestoppers.com or use the P3Tips app.
Source: US GOIAM Union
The IAM Union has confirmed that an IAM Union Local 695 (District 160) member and lawful U.S. permanent resident, Maximo Londonio, is being held in custody by U.S. Customs and Border Protection at Seattle-Tacoma International Airport.
Londonio has been detained since May 15 after returning home from a trip with his wife and young daughter to celebrate their 20th wedding anniversary and see family in the Philippines. Londonio is a lead fork lift driver at Crown Cork & Seal, an IAM-represented manufacturing facility in Lacey, Wash., where he has worked since 2017. Coworkers describe him as a well-liked and dedicated to his job.
The IAM Union is currently working with the employer to maintain Londonio’s job, as well as allied organizations to secure his release.
“Like so many across our country, our IAM Union Brother Maximo is simply trying to be the best husband and father he can be and provide for his family,” said IAM Union International President Brian Bryant. “To our knowledge, there has been no evidence to support the U.S. government’s continued detention of Maximo. We call for his immediate release.”
“Our union is a family – and we will speak up any time we see the human rights of our members are violated,” said IAM Union Western Territory General Vice President Robert “Bobby” Martinez. “We will continue to call for his release until Maximo is free and united with his family.”
The IAM Union (International Association of Machinists and Aerospace Workers) is one of North America’s largest and most diverse industrial trade unions, representing approximately 600,000 active and retired members in the aerospace, defense, airlines, shipbuilding, railroad, transit, healthcare, automotive, and other industries across the United States and Canada.
goIAM.org | @IAM_Union
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US Senate News:
Source: United States Senator for Rhode Island Jack Reed
WASHINGTON, DC — This week, U.S. Senators Jeanne Shaheen (D-NH), Ranking Member of the Senate Foreign Relations Committee, Jack Reed (D-RI), Ranking Member of the Senate Armed Services Committee and Mark Warner (D-VA), Vice Chairman of the Senate Select Committee on Intelligence, sent a letter to President Donald Trump expressing concern about the Administration’s tariff policy and its harmful impact on U.S. national security.
The leading national security Senators warned that tariffs announced this year will cost American households thousands of dollars, increase inflation and undermine longstanding U.S. alliances and partnerships—ultimately harming U.S. national security interests. They urged President Trump to reassess the long-term national security consequences of a trade policy that isolates the U.S. from its closest partners.
“We are writing to express our deep concern over your Administration’s tariff policy and its harmful impact on U.S. national security,” wrote the Senators. “The tariffs announced this year will raise trade barriers to their highest level in more than a century, costing the average American household $4,900 per year, increasing inflation to as high as 5.5 percent and risking bankruptcy for small businesses across the country.”
“Global stock markets have experienced wild fluctuations and companies have paused shipments to the United States, laid off workers and delayed new investments and expansion due to the uncertainty these tariffs have caused,” continued the Senators. “Yet this decision has an additional consequence: it undermines longstanding U.S. alliances and partnerships and harms our national security interests. We urge you to assess the long-term national security implications of your short-sighted, impulsive tariff agenda.”
“As the Senate considers the Administration’s fiscal year 2026 budget request, we will hold a number of hearings,” concluded the Senators. “We expect Administration officials to speak to the impact of U.S. tariff actions on our alliances and partnerships as part of that process. If your tariff tirade continues to spiral, ‘America First’ may result in ‘America Alone,’ leaving our citizens less safe and our Nation less strong and less prosperous.”
Full text of the letter follows:
Dear President Trump,
We are writing to express our deep concern over your Administration’s tariff policy and its harmful impact on U.S. national security. The tariffs announced this year will raise trade barriers to their highest level in more than a century, costing the average American household $4,900 per year, increasing inflation to as high as 5.5 percent and risking bankruptcy for small businesses across the country. Global stock markets have experienced wild fluctuations and companies have paused shipments to the United States, laid off workers and delayed new investments and expansion due to the uncertainty these tariffs have caused. Yet this decision has an additional consequence: it undermines longstanding U.S. alliances and partnerships and harms our national security interests. We urge you to assess the long-term national security implications of your short-sighted, impulsive tariff agenda.
The April 2nd Executive Order has been deeply felt by partners and allies across the world. All NATO allies have been affected, in addition to Indo-Pacific partners whom the United States relies upon to deliver the “free and open Indo-Pacific” that Secretary of State and National Security Advisor Marco Rubio has continued to call for. However, the rationale for these tariffs remains unclear to both Americans and our allies. While the April 9th announcement to pause some tariffs and apparent willingness to negotiate was a positive step, it remains unclear what goals this negotiation is meant to achieve and thus what actions countries should be prepared to take. In addition, the ten percent universal tariff appears likely to remain in place, weakening relationships with our allies and partners.
Some of our allies, arguably our most critical allies who have stood by us in our most challenging times, have announced economic counter measures against the United States. European Commission President Ursula Von Der Leyen has said the European Union is readying its “first package of countermeasures,” while Canadian Prime Minister Mark Carney has noted “we are going to fight these tariffs” after having warned that Canada’s “trade and security relations are too reliant on the United States. We must diversify.” We are also concerned that US-EU negotiations show no sign of progress, with reports that the Trump Administration refuses to engage in good faith with America’s largest trading partner.
At the same time as the Administration is imposing new tariffs, we are also urging our European and Indo-Pacific partners to increase defense spending. The Administration has called on NATO allies to increase their defense spending to 5 percent of their gross domestic product and Taiwan to increase their defense spending to 10 percent; only to turn around and undermine such an effort by threatening a trade war that stifles economic growth and raises costs. We are already seeing reports that partners will have to diversify away from U.S. parts in weapons production and procurement and critical security partnerships, like AUKUS, could end up too expensive to pursue.
The tariffs are also likely in conflict with our U.S. treaty commitments. For instance, the tariffs imposed on NATO members could be a violation of Article II of the North Atlantic Treaty, which calls on all NATO partners to “eliminate conflict in their international economic policies,” and “encourage economic collaboration.” The same language exists in our mutual defense treaty with Japan. The Administration must explain to how the tariff announcements are in accordance with U.S. treaty commitments.
Our networks of allies and partners are our greatest competitive advantage. We must work to foster greater unity and resolve to address the most pressing national security challenges together. Your administration’s policy approach is undermining such efforts. Strategic competition with the People’s Republic of China (PRC) will be far harder to win alone. As we learned in 2022, following Russia’s illegal full-scale invasion of Ukraine, we can impose significant economic pain when the United States, the European Union, and our Indo-Pacific partners act in unison. We are stronger together. And launching a trade war against our allies and partners undermines that strength. We urge you to rethink this harmful policy.
As the Senate considers the Administration’s fiscal year 2026 budget request, we will hold a number of hearings. We expect Administration officials to speak to the impact of U.S. tariff actions on our alliances and partnerships as part of that process. If your tariff tirade continues to spiral, “America First” may result in “America Alone,” leaving our citizens less safe and our Nation less strong and less prosperous.
Sincerely,
Source: Royal Canadian Mounted Police
A middle-aged woman was arrested by RCMP NL on May 19, 2025, after police responded to a disturbance and residential fire at a home in Davidsville.
Shortly after 5:00 p.m. on Monday, police received a report of a residential disturbance. A woman inside the home threatened another occupant and was damaging the property. As officers were responding, they received further information that the home was now on fire.
Upon arrival at the residence in Davidsville, police determined that the home, which was fully engulfed in flames, had been safely vacated and that no one was injured. The woman was arrested for uttering threats and was transported to the James Paton Memorial Regional Health Centre in Gander for an assessment under the Mental Health Care and Treatment Act. She was committed into care at the hospital.
Fire and Emergency Services were engaged. The investigation is continuing with further charges possible.
Source: GlobeNewswire (MIL-OSI)
Middlefield Canadian Income PCC Net Asset Value
Middlefield Canadian Income PCC
Middlefield Canadian Income – GBP PC
(a protected cell company incorporated in Jersey with registration number 93546)
Legal Entity Identifier: 2138007ENW3JEJXC8658
Correction: Net Asset Value announcement
Correction to the announcement made at 14:00 on 19 May 2025: The full corrected announcement is as per below:
Net Asset Value
As at the close of business on 16 May 2025 the estimated unaudited Net Asset Value per share was 130.15 pence (including accrued income).
Investments in the Company’s portfolio have been valued on a bid price basis.
Enquiries:
JTC Fund Solutions (Jersey) Limited
01534 700 000
Source: The Conversation – Canada – By Megan Bradley, Full Professor, Political Science and International Development Studies, McGill University
The international humanitarian system is in freefall. Following the dramatic funding cuts initiated by Donald Trump’s administration in the United States, deliveries of essential food, medicines and clean water to those in need have halted and stockpiles are dwindling. Aid agencies are scrambling to figure out how to do less with less, even as global needs are mounting.
Read more:
The growing threat to U.S. democracy will literally cost lives
Those displaced inside their own countries, as a result of conflict or natural disaster, have been particularly hard hit by this upheaval.
Internally displaced persons already fall through the cracks of the humanitarian system, despite dramatically outnumbering those who cross borders as refugees.
Worldwide, there are an estimated 43.7 million refugees, compared to 83.4 million internally displaced people. Yet media coverage still focuses on those fleeing their country as refugees, while internally displaced people remain less visible and beholden to national governments that have the primary responsibility to assist them.
Some governments, such as Ukraine’s, work hard to meet this challenge but need outside support. In countries like Myanmar and Afghanistan, governments are complicit in displacing their own citizens, necessitating stronger international leadership.
The Office of the United Nations High Commissioner for Refugees (UNHCR) was established to protect and assist refugees. But from as early as the 1970s — as a result of calls from the UN General Assembly to address displacement crises — it has also become a leading entity in the international response to internally displaced persons.
Advocacy from the UN Special Rapporteur on Human Rights of Internally Displaced Persons (established in the early 1990s), and more recently from the UN Secretary-General’s High Level Panel on Internally Displaced Persons and the work of the Office of the UN Special Advisor on Solutions to Internal Displacement, has also promoted increased attention to the issue and advocated workable solutions.
This progress is now at risk in the face of U.S. humanitarian aid cuts.
The danger today is not that the UNHCR and other humanitarian leaders will treat internally displaced people as unimportant or undeserving of help. Instead, ground could be lost through a return to the UNHCR’s traditional, narrow refugee mandate. Responsibility for internally displaced persons could be shirked as many UN agencies are also under stress.
This will further increase the marginalization of internally displaced people and expose them to heightened levels of insecurity, poverty and disease.
The UNHCR is far from the only international organization involved with internally displaced persons. The International Organization for Migration is another important player, particularly in natural disasters, and other agencies, including the UN Development Programme, support longer-term development solutions.
Yet the UNHCR is the core protection agency for those who are forcibly displaced and its leadership is critical to ensuring a comprehensive response to both refugees and those displaced within their own country’s borders.
In the face of a 30 per cent reduction in operating expenses in its headquarters and regional bureaus, the UNHCR faces some agonizing choices. But these cuts must not produce a competition between internally displaced persons and refugees in humanitarian assistance.
Experience has shown that effective responses must consider displacement dynamics not only across but also within borders — especially since many refugees are internally displaced before they seek safety abroad and many face internal displacement if they return to their countries of origin.
The good news is that the UNHCR remains committed to supporting inter-agency co-operation on solutions for internally displaced people, following up on the work of the Office of the UN Special Advisor.
However, the head of the UNHCR has not yet publicly and clearly reaffirmed his agency’s commitment to standing up for internally displaced people alongside refugees in this moment of flux in the humanitarian sector.
As the UNHCR reduces its commitments and shrinks its operations, there could be a void of senior leadership on internal displacement at headquarters and in the field. This means the agency’s response may be determined by regional and country directors with different levels of comfort with and commitment to internally displaced persons.
The irony is that the UNHCR routinely calls for governments dealing with internal displacement crises to clearly allocate responsibility for effective responses. Today’s budget crisis is no excuse for the UNHCR not to walk its own talk.
In the face of declining resources but mounting humanitarian needs, the UNHCR and its donors should prioritize preserving their investment in strengthened, reliable and rights-based responses to internally displaced persons — not only for the sake of these citizens, but also as an integral element of a comprehensive response to refugee situations.
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The UNHCR should recognize and insist that refugee response requires an effective response to those displaced internally and vice versa. As a core part of this approach, the agency should also enhance its support for local efforts led by internally displaced people themselves, recognizing they can be, and have been, at the forefront of more effective solutions to their displacement.
The UNHCR’s funding cuts are putting the agency in a pared-down holding pattern until the next high commissioner of the organization is chosen later this year. A key criterion for selecting the next leader should be their vision for sustaining engagement with internally displaced persons alongside refugees in this moment of global turmoil.
Megan Bradley receives funding from SSHRC.
Jennifer Welsh receives funding from the Social Science and Research Council of Canada and the European Research Council.
– ref. Falling back into the shadows? How to keep internal displacement on the humanitarian agenda – https://theconversation.com/falling-back-into-the-shadows-how-to-keep-internal-displacement-on-the-humanitarian-agenda-255856