Category: Canada

  • MIL-OSI Canada: Minister LeBlanc meets with U.S. Senate Congressional Delegation

    Source: Government of Canada News

    July 21, 2025 – Ottawa, Ontario – Global Affairs Canada

    Today, the Honourable Dominic LeBlanc, President of the King’s Privy Council for Canada and Minister responsible for Canada-U.S. Trade, Intergovernmental Affairs and One Canadian Economy, met with a U.S. Senate Congressional Delegation to discuss opportunities to strengthen the longstanding and unique trade and investment relationship between Canada and the United States.

    During his discussion with Senators Ron Wyden (Oregon), Lisa Murkowski (Alaska), Maggie Hassan (New Hampshire), and Catherine Cortez Masto (Nevada), Minister LeBlanc underscored the importance of maintaining an open and stable trade environment between our deeply integrated economies to support mutual growth, prosperity and security. The minister conveyed his commitment to work with U.S. Congressional leaders to advance shared trade and investment goals.

    Associated links

    MIL OSI Canada News

  • MIL-OSI: Draganfly Announces Closing of US$25.0 Million Registered Direct Offering

    Source: GlobeNewswire (MIL-OSI)

    Saskatoon, SK., July 21, 2025 (GLOBE NEWSWIRE) — Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO) (FSE: 3U8A) (“Draganfly” or the “Company”), an award-winning developer of drone solutions, software, and robotics, today announced the closing of its previously announced registered direct offering of 4,672,895 units of the Company (the “Units”), at a price of US$5.35 per Unit, for gross proceeds of approximately US$25.0 million, before deducting placement agent discounts and offering expenses (the “Offering”).

    Each Unit consists of one common share in the capital of the Company (each, a “Common Share”) and one common share purchase warrant (each, a “Warrant”). The Warrants entitle the holder thereof to purchase one Common Share at an exercise price of CA$7.3579 (the Canadian dollar equivalent of US$5.35) per Common Share, are exercisable immediately and will expire five years following the date of issuance.

    Maxim Group LLC acted as sole placement agent for the Offering.

    Draganfly currently intends to use the net proceeds from the Offering for general corporate purposes, including to fund its capabilities to meet demand for its new products including growth initiatives and/or for working capital requirements including the continuing development and marketing of the Company’s core products, potential acquisitions and research and development.

    The Offering was made pursuant to an effective shelf registration statement on Form F-10, as amended, (File No. 333-271498) previously filed with and subsequently declared effective by the U.S. Securities and Exchange Commission (“SEC”) on July 5, 2023 and the Company’s Canadian short form base shelf prospectus dated June 30, 2023 (the “Base Shelf Prospectus”). Draganfly offered and sold the securities in the United States only. No securities were offered or sold to Canadian purchasers.

    A prospectus supplement and accompanying Base Shelf Prospectus relating to the Offering and describing the terms thereof was filed with the applicable securities commissions in the Canadian provinces of British Columbia, Saskatchewan and Ontario, and with the SEC in the United States and is available for free by visiting the Company’s profiles on the SEDAR+ website maintained by the Canadian Securities Administrators at www.sedarplus.ca or the SEC’s website at www.sec.gov, as applicable. Copies of the prospectus supplement and accompanying Base Shelf Prospectus relating to the Offering may be obtained by contacting Maxim Group LLC, at 300 Park Avenue, 16th Floor, New York, NY 10022, Attention: Syndicate Department, or by telephone at (212) 895-3745 or by email at syndicate@maximgrp.com.

    This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

    About Draganfly

    Draganfly Inc. (NASDAQ: DPRO; CSE: DPRO; FSE: 3U8A) is a pioneer in drone solutions, AI-driven software, and robotics. With over 25 years of innovation, Draganfly has been at the forefront of drone technology, providing solutions for public safety, agriculture, industrial inspections, security, mapping, and surveying. The Company is committed to delivering efficient, reliable, and industry-leading technology that helps organizations save time, money, and lives.

    Media Contact
    media@draganfly.com

    Company Contact
    Cameron Chell, Chief Executive Officer
    Tel: (306) 955-9907
    Email: info@draganfly.com

    Forward Looking Statements

    Certain statements contained in this news release may constitute “forward-looking statements” or “forward-looking information” within the meaning of applicable securities laws. Such statements, based as they are on the current expectations of management, inherently involve numerous important risks, uncertainties and assumptions, known and unknown. In this news release, such forward-looking statements include, but are not limited to, statements regarding the intended use of proceeds of the Offering. These forward looking statements are subject to numerous factors, many of which are beyond Draganfly’s control, including but not limited to, those important factors disclosed previously and from time to time in Draganfly’s filings with the securities regulatory authorities in the Canadian provinces of British Columbia, Ontario and Saskatchewan and with the SEC. Actual future events may differ from the anticipated events expressed in such forward-looking statements. Draganfly believes that expectations represented by forward-looking statements are reasonable, yet there can be no assurance that such expectations will prove to be correct. The reader should not place undue reliance, if any, on any forward-looking statements included in this news release. These forward-looking statements speak only as of the date made, and Draganfly is under no obligation and disavows any intention to update publicly or revise such statements as a result of any new information, future event, circumstances or otherwise, unless required by applicable securities laws.‎ Investors are cautioned not to unduly rely on these forward-looking statements and are encouraged to read the Offering documents, as well as Draganfly’s continuous disclosure documents, including its current annual information form, as well as its audited annual consolidated financial statements which are available on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov/edgar.

    The MIL Network

  • MIL-OSI: Skillful Application of Fundamental Principles Yields Standout Results: TrustCo Announces Net Income Up 19.8%; Net Interest Income up 10.5%

    Source: GlobeNewswire (MIL-OSI)

    Executive Snapshot:

    • Bank-wide financial results:
      • Key metrics for the second quarter 2025:
        • Net income of $15.0 million, or $0.79 diluted earnings per share, increased 19.8% compared to $12.6 million, or $0.66 diluted earnings per share for the second quarter 2024
        • Net interest income of $41.7 million, up 10.5% from $37.8 million for the second quarter 2024
        • Net interest margin of 2.71%, up 18 basis points from 2.53% in second quarter of 2024
        • Average loans were up $115.6 million for the second quarter 2025 compared to the second quarter 2024
        • Average deposits were up $173.4 million for the second quarter 2025 compared to the second quarter 2024
    • Capital position and key ratios:
      • Consolidated equity to assets increased to 10.91% as of June 30, 2025 from 10.73% as of June 30, 2024
      • Book value per share as of June 30, 2025 was $36.75, up from $34.46 as of June 30, 2024
      • 169 thousand shares of TrustCo common stock were purchased under the stock repurchase program during the second quarter 2025
    • Trustco Financial Services and Wealth Management income:
      • Fees increased to $1.8 million, or by 13.0%, compared to second quarter 2024
      • Assets under management increased to $1.19 billion, or by 8.2%, compared to second quarter 2024

    GLENVILLE, N.Y., July 21, 2025 (GLOBE NEWSWIRE) — TrustCo Bank Corp NY (TrustCo, NASDAQ: TRST) today announced strong financial results for the second quarter of 2025 underscored by rising net interest income, continued margin expansion, and accelerated loan growth across key portfolios. Net interest income increased 10.5% year over year to $41.7 million, driven by the ongoing repricing of the loan portfolio at higher yields and disciplined management of deposit costs, which remained well-controlled despite sustained competitive pressures. Net interest margin expanded to 2.71% from 2.53% in the prior year period, reflecting improved asset yields and prudent deposit pricing strategies. This resulted in second quarter 2025 net income of $15.0 million or $0.79 diluted earnings per share, compared to net income of $12.6 million or $0.66 diluted earnings per share for the second quarter 2024. Loan growth gained momentum during the quarter, with total average loans increasing $115.6 million or 2.3% for the second quarter 2025 over the same period in 2024. This growth signals increasing borrower confidence and supports the Bank’s strategic focus on high quality relationship lending.        

    Overview

    Chairman, President, and CEO, Robert J. McCormick said “Part of our long-term strategy is having the right mix of products available so that we can sell the right thing, to the right customer, at the right time. It is our ability to do this with agility and skill that has produced the standout results announced today. We saw double digit growth in our return metrics year over year, as return on average assets improved 17%, and return on average equity grew 12.5%. Our margin improved 7% year over year, in tandem with a 12% year over year improvement in adjusted efficiency ratio. Our ability to sell home equity products at a time of high market demand for the flexibility they offer has been key to this success. Home equity credit lines are up 18% year over year. Likewise, we strategically grew commercial loans 11% year over year – which we have done without exposure to risky multi-family loans or other industry-specific concentrations. We lowered non-performing loans to total loans by 7% year over year, and booked a second consecutive quarter of net recoveries. These exceptional results in the first half of 2025 provide a foundation for positive momentum moving into 2026.”

    Details

    As the year continues to progress, we are seeing increased opportunities to deploy our resources effectively. Some efforts include loan originations, targeted investments in technology and digital banking infrastructure, and strategic growth in key markets. Average loans were up $115.6 million, or 2.3%, in the second quarter 2025 over the same period in 2024. Average residential loans and HECLs, our primary lending focus, were up $27.9 million, or 0.6%, and $64.7 million, or 17.8%, respectively, in the second quarter 2025 over the same period in 2024. Average commercial loans also increased $25.8 million, or 9.2%, in the second quarter 2025 over the same period in 2024. We believe that this upward trend reflects improving economic confidence among borrowers, strong credit quality, and the Bank’s focus on relationship lending. The sustained growth in the loan portfolio will likely enhance net interest income in the quarters ahead. Average deposits were up $173.4 million, or 3.3%, for the second quarter 2025 over the same period in 2024, primarily as a result of an increase in time deposits, interest bearing checking accounts, and demand deposits. The Bank’s continued emphasis on relationship banking, combined with competitive product offerings and digital capabilities, has contributed to a stable deposit base that supports ongoing loan growth and expansion.

    During the second quarter of 2025, we remained committed to returning value to shareholders through a disciplined share repurchase program, which reflects our confidence in the long-term strength of the franchise and our focus on capital optimization. TrustCo purchased 169 thousand, or 0.9%, of total shares outstanding of TrustCo common stock under the previously announced stock repurchase program during the second quarter of 2025. Our approach ensures every dollar of capital is working to generate solid returns, strengthen customer relationships, and enhance shareholder value. As of June 30, 2025, our equity to asset ratio was 10.91%, compared to 10.73% as of June 30, 2024. Book value per share as of June 30, 2025 was $36.75, up 6.6% compared to $34.46 a year earlier.

    Net interest income was $41.7 million for the second quarter 2025, an increase of $4.0 million, or 10.5%, compared to the second quarter of 2024, driven by loan growth at higher interest rates, increase in interest on federal funds sold and other short-term investments, and less interest expense on deposit products, partially offset by lower investment interest income. The net interest margin for the second quarter 2025 was 2.71%, up 18 basis points from 2.53% in the second quarter of 2024. The yield on interest earnings assets increased to 4.19% in the second quarter of 2025, up 13 basis points from 4.06% in the second quarter of 2024. The cost of interest bearing liabilities decreased to 1.91% in the second quarter 2025, down from 1.97% in the second quarter 2024. The Bank is well positioned to continue delivering strong net interest income performance even as the Federal Reserve signals a potential easing cycle in the months ahead. Our balance sheet is built for resilience and flexibility, with a favorable asset mix and a stable deposit base that we believe positions us to thrive across interest rate environments. In addition to new loan originations, we are seeing ongoing opportunities to reprice portions of our existing loan book as higher-rate loans replace paydowns and early payoffs, helping us maintain attractive yields. With loan demand accelerating and funding costs stabilizing, we believe there is meaningful upside to net interest income in the coming quarters. Our proactive asset-liability management strategy gives us confidence in sustaining margin strength and driving consistent profitable growth.

    Non-interest income, net of net gains on equity securities, increased to $4.9 million as compared to $4.3 million for the second quarter of 2024. This increase was primarily attributable to wealth management and financial services fees, which increased by 13.0% to $1.8 million, driven by strong client demand and higher assets under management. These revenues represent 37.5% of non-interest income for the second quarter of 2025. The majority of this fee income is recurring, supported by long-term advisory relationships and a growing base of managed assets. Non-interest expense increased $236 thousand over the second quarter of 2024.

    Asset quality remains strong and has been consistent over the past twelve months. The Company recorded a provision for credit losses on loans of $650 thousand in the second quarter of 2025. The ratio of allowance for credit losses on loans to total loans was 0.99% as of both June 30, 2025 and 2024. The allowance for credit losses on loans was $51.3 million as of June 30, 2025, compared to $49.8 million as of June 30, 2024. Nonperforming loans (NPLs) were $17.9 million as of June 30, 2025, compared to $19.2 million as of June 30, 2024. NPLs were 0.35% and 0.38% of total loans as of June 30, 2025 and 2024, respectively. The coverage ratio, or allowance for credit losses on loans to NPLs, was 286.2% as of June 30, 2025, compared to 259.4% as of June 30, 2024. Nonperforming assets (NPAs) were $19.0 million as of June 30, 2025, compared to $21.5 million as of June 30, 2024.  

    A conference call to discuss second quarter 2025 results will be held at 9:00 a.m. Eastern Time on July 22, 2025. Those wishing to participate in the call may dial toll-free for the United States at 1-833-470-1428, and for Canada at 1-833-950-0062, Access code 258501. A replay of the call will be available for thirty days by dialing toll-free for the United States at 1-866-813-9403, Access code 410483.   The call will also be audio webcast at  https://events.q4inc.com/attendee/979003710, and will be available for one year.

    About TrustCo Bank Corp NY

    TrustCo Bank Corp NY is a $6.3 billion savings and loan holding company and through its subsidiary, Trustco Bank, operated 136 offices in New York, New Jersey, Vermont, Massachusetts, and Florida as of June 30, 2025.

    In addition, the Bank’s Wealth Management Department offers a full range of investment services, retirement planning and trust and estate administration services. The common shares of TrustCo are traded on the NASDAQ Global Select Market under the symbol TRST.

    Forward-Looking Statements

    All statements in this news release and the related earnings call that are not historical are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as “anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “will” and similar references to future development, results or periods. Examples of forward-looking statements include, among others, statements we make regarding our expectations for our future performance, including our expectations regarding the impact of our loan portfolio’s growth, loan demand and funding cost on net interest income, and the anticipated effects of our capital management strategy, including our stock repurchase program. Forward-looking statements are based on management’s current expectations as well as certain assumptions and estimates made by, and information available to, management at the time the statements are made. Such forward-looking statements are subject to factors and uncertainties that could cause actual results to differ materially for TrustCo from the views, beliefs and projections expressed in such statements, and many of the risks and uncertainties are heightened by or may, in the future, be heightened by volatility in financial markets and macroeconomic or geopolitical concerns related to inflation, changes in United States and foreign trade policy, continued elevated interest rates and ongoing armed conflicts (including the Russia/Ukraine conflict and the conflict in Israel and surrounding areas). TrustCo wishes to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The following important factors, among others, in some cases have affected and in the future could affect TrustCo’s actual results and could cause TrustCo’s actual financial performance to differ materially from that expressed in any forward-looking statement: future changes in interest rates; external economic factors, such as changes in monetary policy, ongoing inflationary pressures and continued elevated prices; exposure to credit risk in our lending activities; the risk of weakness in residential real estate markets; our increasing commercial loan portfolio; the sufficiency of our allowance for credit losses on loans to cover actual loan losses; our ability to meet the cash flow requirements of our depositors or borrowers or meet our operating cash needs to fund corporate expansion and other activities; claims and litigation pertaining to fiduciary responsibility and lender liability; the enforcement of federal cannabis laws and regulations and its impact on our ability to provide services in the cannabis industry; our dependency upon the services of the management team; our disclosure controls and procedures’ ability to prevent or detect errors or acts of fraud; the adequacy of our business continuity and disaster recovery plans; the effectiveness of our risk management framework; the impact of any expansion by us into new lines of business or new products and services; an increase in the prevalence of fraud and other financial crimes; the impact of severe weather events and climate change on us and the communities we serve, including societal responses to climate change; environmental, social and governance risks, as well as diversity, equity, and inclusion-related risks, and their impact on our reputation and relationships; the chance of a prolonged economic downturn, especially one affecting our geographic market area; instability in global economic conditions and geopolitical matters, as well as volatility in financial markets; the soundness of other financial institutions; U.S. government shutdowns, credit rating downgrades, or failure to increase the debt ceiling; fluctuations in the trust wealth management fees we receive as a result of investment performance; the impact of regulatory capital rules on our growth; changes in laws and regulations, including changes in cybersecurity or privacy regulations; restrictions on data collection and use; our compliance with the USA PATRIOT Act, Bank Secrecy Act, and other laws and regulations that could result in material fines or sanctions; changes in tax laws; limitations on our ability to pay dividends; TrustCo Realty Corp.’s ability to qualify as a real estate investment trust; changes in accounting standards; competition within our market areas; consumers and businesses’ use of non-banks to complete financial transactions; our reliance on third-party service providers; the impact of data breaches and cyber-attacks; the development and use of artificial intelligence; the impact of a failure in or breach of our operational or security systems or infrastructure, or those of third parties; the impact of an unauthorized disclosure of sensitive or confidential client or customer information; the impact of interruptions in the effective operation of our computer systems; the impact of anti-takeover provisions in our organizational documents; the impact of the manner in which we allocate capital; and other risks and uncertainties set forth in our public filings made with the Securities and Exchange Commission (the “SEC”), including our most recent Annual Report on Form 10-K for the year ended December 31, 2024, our Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, and our Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2025 to be filed with the SEC. The forward-looking statements contained in this news release represent TrustCo management’s judgment as of the date of this news release. TrustCo disclaims, however, any intent or obligation to update forward-looking statements, either as a result of future developments, new information or otherwise, except as may be required by law.

    TRUSTCO BANK CORP NY
    GLENVILLE, NY
     
    FINANCIAL HIGHLIGHTS
     
    (dollars in thousands, except per share data)
    (Unaudited)
      Three months ended
      6/30/2025
      3/31/2025
      6/30/2024
    Summary of operations          
    Net interest income $ 41,746     $ 40,373     $ 37,788  
    Provision for credit losses   650       300       500  
    Net gains on equity securities               1,360  
    Noninterest income, excluding net gains on equity securities   4,852       4,974       4,291  
    Noninterest expense   26,223       26,329       26,459  
    Net income   15,039       14,275       12,551  
               
    Per share          
    Net income per share:          
    – Basic $ 0.79     $ 0.75     $ 0.66  
    – Diluted   0.79       0.75       0.66  
    Cash dividends   0.36       0.36       0.36  
    Book value at period end   36.75       36.16       34.46  
    Market price at period end   33.42       30.48       28.77  
               
    At period end          
    Full time equivalent employees   733       740       753  
    Full service banking offices   136       136       138  
               
    Performance ratios          
    Return on average assets   0.96 %     0.93 %     0.82 %
    Return on average equity   8.73       8.49       7.76  
    Efficiency ratio (GAAP)   56.27       58.06       60.91  
    Adjusted Efficiency ratio (1)   55.15       58.00       62.84  
    Net interest spread   2.28       2.21       2.09  
    Net interest margin   2.71       2.64       2.53  
    Dividend payout ratio   45.27       47.97       54.57  
               
    Capital ratios at period end          
    Consolidated equity to assets   10.91 %     10.85 %     10.73 %
    Consolidated tangible equity to tangible assets (1)   10.91 %     10.84 %     10.72 %
               
    Asset quality analysis at period end          
    Nonperforming loans to total loans   0.35 %     0.37 %     0.38 %
    Nonperforming assets to total assets   0.30       0.33       0.35  
    Allowance for credit losses on loans to total loans   0.99       0.99       0.99  
    Coverage ratio (2)   2.9x       2.7x       2.6x  
               
               
    (1) Non-GAAP Financial Measure, see Non-GAAP Financial Measures Reconciliation.
    (2) Calculated as allowance for credit losses on loans divided by total nonperforming loans.          
    FINANCIAL HIGHLIGHTS, Continued      
     
    (dollars in thousands, except per share data)      
    (Unaudited)      
      Six Months Ended
      06/30/25
      06/30/24
    Summary of operations      
    Net interest income $ 82,119       74,366  
    Provision for credit losses   950       1,100  
    Net gains on equity securities         1,360  
    Noninterest income, excluding net gains on equity securities   9,826       9,134  
    Noninterest expense   52,552       51,362  
    Net income   29,314       24,677  
           
    Per share      
    Net income per share:      
    – Basic $ 1.54       1.30  
    – Diluted   1.54       1.30  
    Cash dividends   0.72       0.72  
    Book value at period end   36.75       34.46  
    Market price at period end   33.42       28.77  
           
    Performance ratios      
    Return on average assets   0.94 %     0.81  
    Return on average equity   8.61       7.65  
    Efficiency ratio (GAAP)   57.16       60.53  
    Adjusted Efficiency ratio (1)   56.56       61.40  
    Net interest spread   2.24       2.05  
    Net interest margin   2.68       2.48  
    Dividend payout ratio   46.58       55.51  
           
    (1) Non-GAAP Financial Measure, see Non-GAAP Financial Measures Reconciliation.      
    CONSOLIDATED STATEMENTS OF INCOME
                       
    (dollars in thousands, except per share data)                  
    (Unaudited)                  
      Three months ended
      6/30/2025   3/31/2025   12/31/2024   9/30/2024     6/30/2024  
    Interest and dividend income:                  
    Interest and fees on loans $ 54,557     $ 53,450     $ 53,024     $ 52,112     $ 50,660  
    Interest and dividends on securities available for sale:                  
    U. S. government sponsored enterprises   614       596       680       718       909  
    State and political subdivisions                           1  
    Mortgage-backed securities and collateralized mortgage                  
    obligations – residential   1,613       1,483       1,418       1,397       1,451  
    Corporate bonds   210       260       358       361       362  
    Small Business Administration – guaranteed                  
    participation securities   75       81       84       90       94  
    Other securities   8       7       6       2       2  
    Total interest and dividends on securities available for sale   2,520       2,427       2,546       2,568       2,819  
                       
    Interest on held to maturity securities:                  
    obligations – residential   54       57       59       62       65  
    Total interest on held to maturity securities   54       57       59       62       65  
                       
    Federal Home Loan Bank stock   129       151       152       153       147  
                       
    Interest on federal funds sold and other short-term investments   7,212       6,732       6,128       6,174       6,894  
    Total interest income   64,472       62,817       61,909       61,069       60,585  
                       
    Interest expense:                  
    Interest on deposits:                  
    Interest-bearing checking   536       558       397       311       288  
    Savings   733       734       719       770       675  
    Money market deposit accounts   2,086       1,989       2,024       2,154       2,228  
    Time deposits   19,195       18,983       19,680       18,969       19,400  
    Interest on short-term borrowings   176       180       187       194       206  
    Total interest expense   22,726       22,444       23,007       22,398       22,797  
                       
    Net interest income   41,746       40,373       38,902       38,671       37,788  
                       
    Less: Provision for credit losses   650       300       400       500       500  
    Net interest income after provision for credit losses   41,096       40,073       38,502       38,171       37,288  
                       
    Noninterest income:                  
    Trustco Financial Services income   1,818       2,120       1,778       2,044       1,609  
    Fees for services to customers   2,266       2,645       2,226       2,482       2,399  
    Net gains on equity securities                     23       1,360  
    Other   768       209       405       382       283  
    Total noninterest income   4,852       4,974       4,409       4,931       5,651  
                       
    Noninterest expenses:                  
    Salaries and employee benefits   11,876       11,894       12,068       12,134       12,520  
    Net occupancy expense   4,518       4,554       4,563       4,271       4,375  
    Equipment expense   1,918       1,944       2,404       1,757       1,990  
    Professional services   1,886       1,726       1,782       1,863       1,570  
    Outsourced services   2,460       2,700       3,051       2,551       2,755  
    Advertising expense   304       361       590       339       466  
    FDIC and other insurance   1,136       1,188       1,113       1,112       797  
    Other real estate expense, net   522       28       476       204       16  
    Other   1,603       1,934       2,118       1,969       1,970  
    Total noninterest expenses   26,223       26,329       28,165       26,200       26,459  
                       
    Income before taxes   19,725       18,718       14,746       16,902       16,480  
    Income taxes   4,686       4,443       3,465       4,027       3,929  
                       
    Net income $ 15,039     $ 14,275     $ 11,281     $ 12,875     $ 12,551  
                       
    Net income per common share:                  
    – Basic $ 0.79     $ 0.75     $ 0.59     $ 0.68     $ 0.66  
                       
    – Diluted   0.79       0.75       0.59       0.68       0.66  
                       
    Average basic shares (in thousands)   18,965       19,020       19,015       19,010       19,022  
    Average diluted shares (in thousands)   18,994       19,044       19,045       19,036       19,033  
    CONSOLIDATED STATEMENTS OF INCOME, Continued
     
    (dollars in thousands, except per share data)
    (Unaudited)
      Six Months Ended
      06/30/25   06/30/24
    Interest and dividend income:      
    Interest and fees on loans $ 108,007       100,464  
    Interest and dividends on securities available for sale:      
    U. S. government sponsored enterprises   1,210       1,815  
    State and political subdivisions         1  
    Mortgage-backed securities and collateralized mortgage      
    obligations – residential   3,096       2,945  
    Corporate bonds   470       838  
    Small Business Administration – guaranteed      
    participation securities   156       194  
    Other securities   15       5  
    Total interest and dividends on securities available for sale   4,947       5,798  
           
    Interest on held to maturity securities:      
    Mortgage-backed securities-residential   111       133  
    Total interest on held to maturity securities   111       133  
           
    Federal Home Loan Bank stock   280       299  
           
    Interest on federal funds sold and other short-term investments   13,944       13,644  
    Total interest income   127,289       120,338  
           
    Interest expense:      
    Interest on deposits:      
    Interest-bearing checking   1,094       528  
    Savings   1,467       1,387  
    Money market deposit accounts   4,075       4,570  
    Time deposits   38,178       39,077  
    Interest on short-term borrowings   356       410  
    Total interest expense   45,170       45,972  
           
    Net interest income   82,119       74,366  
           
    Less: Provision for credit losses   950       1,100  
    Net interest income after provision for credit losses   81,169       73,266  
           
    Noninterest income:      
    Trustco Financial Services income   3,938       3,425  
    Fees for services to customers   4,911       5,144  
    Net gains on equity securities         1,360  
    Other   977       565  
    Total noninterest income   9,826       10,494  
           
    Noninterest expenses:      
    Salaries and employee benefits   23,770       23,947  
    Net occupancy expense   9,072       8,986  
    Equipment expense   3,862       3,728  
    Professional services   3,612       3,030  
    Outsourced services   5,160       5,256  
    Advertising expense   665       874  
    FDIC and other insurance   2,324       1,891  
    Other real estate expense, net   550       90  
    Other   3,537       3,560  
    Total noninterest expenses   52,552       51,362  
           
    Income before taxes   38,443       32,398  
    Income taxes   9,129       7,721  
           
    Net income $ 29,314       24,677  
           
    Net income per common share:      
    – Basic $ 1.54       1.30  
           
    – Diluted   1.54       1.30  
           
    Average basic shares (in thousands)   18,992       19,023  
    Average diluted shares (in thousands)   19,019       19,033  
    CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
     
    (dollars in thousands)
    (Unaudited)
      6/30/2025
      3/31/2025
      12/31/2024
      9/30/2024
      6/30/2024
    ASSETS:                  
                       
    Cash and due from banks $ 45,218     $ 48,782     $ 47,364     $ 49,659     $ 42,193  
    Federal funds sold and other short term investments   668,373       707,355       594,448       473,306       493,920  
    Total cash and cash equivalents   713,591       756,137       641,812       522,965       536,113  
                       
    Securities available for sale:                  
    U. S. government sponsored enterprises   71,241       65,942       85,617       90,588       106,796  
    States and political subdivisions   18       18       18       26       26  
    Mortgage-backed securities and collateralized mortgage                  
    obligations – residential   221,721       219,333       213,128       222,841       218,311  
    Small Business Administration – guaranteed                  
    participation securities   12,945       13,683       14,141       15,171       15,592  
    Corporate bonds   29,943       24,779       44,581       54,327       53,764  
    Other securities   698       698       700       701       688  
    Total securities available for sale   336,566       324,453       358,185       383,654       395,177  
                       
    Held to maturity securities:                  
    Mortgage-backed securities and collateralized mortgage                  
    obligations-residential   4,836       5,090       5,365       5,636       5,921  
    Total held to maturity securities   4,836       5,090       5,365       5,636       5,921  
                       
    Federal Reserve Bank and Federal Home Loan Bank stock   6,601       6,507       6,507       6,507       6,507  
                       
    Loans:                  
    Commercial   314,273       302,753       286,857       280,261       282,441  
    Residential mortgage loans   4,394,317       4,380,561       4,388,302       4,382,674       4,370,640  
    Home equity line of credit   435,433       419,806       409,261       393,418       370,063  
    Installment loans   12,678       13,017       13,638       14,503       15,168  
    Loans, net of deferred net costs   5,156,701       5,116,137       5,098,058       5,070,856       5,038,312  
                       
    Less: Allowance for credit losses on loans   51,265       50,606       50,248       49,950       49,772  
    Net loans   5,105,436       5,065,531       5,047,810       5,020,906       4,988,540  
                       
    Bank premises and equipment, net   38,129       37,178       33,782       33,324       33,466  
    Operating lease right-of-use assets   36,322       34,968       36,627       37,958       38,376  
    Other assets   106,894       108,681       108,656       98,730       102,544  
                       
    Total assets $ 6,348,375     $ 6,338,545     $ 6,238,744 $ 6,109,680     $ 6,106,644  
                       
    LIABILITIES:                  
    Deposits:                  
    Demand $ 784,351     $ 793,306     $ 762,101     $ 753,878     $ 745,227  
    Interest-bearing checking   1,045,043       1,067,948       1,027,540       988,527       1,029,606  
    Savings accounts   1,082,489       1,094,968       1,086,534       1,092,038       1,144,427  
    Money market deposit accounts   467,087       478,872       465,049       477,113       517,445  
    Time deposits   2,111,344       2,061,576       2,049,759       1,952,635       1,840,262  
    Total deposits   5,490,314       5,496,670       5,390,983       5,264,191       5,276,967  
                       
    Short-term borrowings   82,370       82,275       84,781       91,450       89,720  
    Operating lease liabilities   39,350       38,324       40,159       41,469       42,026  
    Accrued expenses and other liabilities   43,536       33,468       46,478       43,549       42,763  
                       
    Total liabilities   5,655,570       5,650,737       5,562,401       5,440,659       5,451,476  
                       
    SHAREHOLDERS’ EQUITY:                  
    Capital stock   20,097       20,097       20,097       20,058       20,058  
    Surplus   259,490       259,182       258,874       257,644       257,490  
    Undivided profits   462,158       453,931       446,503       442,079       436,048  
    Accumulated other comprehensive income (loss), net of tax   1,663       (132 )     (3,861 )     (6,600 )     (14,268 )
    Treasury stock at cost   (50,603 )     (45,270 )     (45,270 )     (44,160 )     (44,160 )
                       
    Total shareholders’ equity   692,805       687,808       676,343       669,021       655,168  
                       
    Total liabilities and shareholders’ equity $ 6,348,375     $ 6,338,545     $ 6,238,744 $ 6,109,680     $ 6,106,644  
                       
    Outstanding shares (in thousands)   18,851       19,020       19,020       19,010       19,010  
    NONPERFORMING ASSETS
               
    (dollars in thousands)
    (Unaudited)
      6/30/2025
      3/31/2025
      12/31/2024
      9/30/2024
      6/30/2024
    Nonperforming Assets                                      
                                           
    New York and other states*                                      
    Loans in nonaccrual status:                                      
    Commercial $ 684     $ 688     $ 343     $ 466     $ 741  
    Real estate mortgage – 1 to 4 family   14,048       14,795       14,671       15,320       14,992  
    Installment   34       139       108       163       131  
    Total nonperforming loans   14,766       15,622       15,122       15,949       15,864  
    Other real estate owned   1,136       2,107       2,175       2,503       2,334  
    Total nonperforming assets $ 15,902     $ 17,729     $ 17,297     $ 18,452     $ 18,198  
               
    Florida          
    Loans in nonaccrual status:          
    Commercial $     $     $     $ 314     $ 314  
    Real estate mortgage – 1 to 4 family   3,132       3,135       3,656       3,176       2,985  
    Installment   12       3       22       5       22  
    Total nonperforming loans   3,144       3,138       3,678       3,495       3,321  
    Other real estate owned                            
    Total nonperforming assets $ 3,144     $ 3,138     $ 3,678     $ 3,495     $ 3,321  
               
    Total          
    Loans in nonaccrual status:          
    Commercial $ 684     $ 688     $ 343     $ 780     $ 1,055  
    Real estate mortgage – 1 to 4 family   17,180       17,930       18,327       18,496       17,977  
    Installment   46       142       130       168       153  
    Total nonperforming loans   17,910       18,760       18,800       19,444       19,185  
    Other real estate owned   1,136       2,107       2,175       2,503       2,334  
    Total nonperforming assets $ 19,046     $ 20,867     $ 20,975     $ 21,947     $ 21,519  
               
               
    Quarterly Net (Recoveries) Chargeoffs          
               
    New York and other states*          
    Commercial $     $ (3 )   $ 62     $ 65     $  
    Real estate mortgage – 1 to 4 family   (121 )     41       (316 )     104       (74 )
    Installment   18       4       41       11       (2 )
    Total net chargeoffs (recoveries) $ (103 )   $ 42     $ (213 )   $ 180     $ (76 )
               
    Florida          
    Commercial $     $ (315 )   $ 314     $     $  
    Real estate mortgage – 1 to 4 family                           17  
    Installment   94       15       1       42       7  
    Total net (recoveries) chargeoffs $ 94     $ (300 )   $ 315     $ 42     $ 24  
               
    Total          
    Commercial $     $ (318 )   $ 376     $ 65     $  
    Real estate mortgage – 1 to 4 family   (121 )     41       (316 )     104       (57 )
    Installment   112       19       42       53       5  
    Total net (recoveries) chargeoffs $ (9 )   $ (258 )   $ 102     $ 222     $ (52 )
               
               
    Asset Quality Ratios          
               
    Total nonperforming loans (1) $ 17,910     $ 18,760     $ 18,800     $ 19,444     $ 19,185  
    Total nonperforming assets (1)   19,046       20,867       20,975       21,947       21,519  
    Total net (recoveries) chargeoffs (2)   (9 )     (258 )     102       222       (52 )
               
    Allowance for credit losses on loans (1)   51,265       50,606       50,248       49,950       49,772  
               
    Nonperforming loans to total loans   0.35 %     0.37 %     0.37 %     0.38 %     0.38 %
    Nonperforming assets to total assets   0.30 %     0.33 %     0.34 %     0.36 %     0.35 %
    Allowance for credit losses on loans to total loans   0.99 %     0.99 %     0.99 %     0.99 %     0.99 %
    Coverage ratio (1)   286.2 %     269.8 %     267.3 %     256.9 %     259.4 %
    Annualized net (recoveries) chargeoffs to average loans (2)   0.00 %     -0.02 %     0.01 %     0.02 %     0.00 %
    Allowance for credit losses on loans to annualized net chargeoffs (2) N/A N/A 123.2x 56.3x N/A
     
    * Includes New York, New Jersey, Vermont and Massachusetts.
    (1) At period-end
    (2) For the three-month period ended
    DISTRIBUTION OF ASSETS, LIABILITIES AND SHAREHOLDERS’ EQUITY –
    INTEREST RATES AND INTEREST DIFFERENTIAL
     
    (dollars in thousands)                              
    (Unaudited) Three months ended   Three months ended
      June 30, 2025   June 30, 2024
      Average   Interest     Average     Average   Interest     Average  
      Balance         Rate     Balance         Rate  
    Assets                              
                                   
    Securities available for sale:                              
    U. S. government sponsored enterprises $ 73,468     $ 614       3.34 %   $ 113,844     $ 909       3.20 %  
    Mortgage backed securities and collateralized mortgage                              
    obligations – residential   244,628       1,613       2.62       250,517       1,451       2.30  
    State and political subdivisions   18       0       6.77       26       1       6.75  
    Corporate bonds   25,707       210       3.26       55,065       362       2.63  
    Small Business Administration – guaranteed                              
    participation securities   14,083       75       2.14       17,436       94       2.15  
    Other   697       8       4.59       694       2       1.15  
                                   
    Total securities available for sale   358,601       2,520       2.81       437,582       2,819       2.58  
                                   
    Federal funds sold and other short-term Investments   648,457       7,212       4.46       506,493       6,894       5.48  
                                   
    Held to maturity securities:                              
    Mortgage backed securities and collateralized mortgage                              
    obligations – residential   4,970       54       4.37       6,054       65       4.28  
                                   
    Total held to maturity securities   4,970       54       4.37       6,054       65       4.28  
                                   
    Federal Home Loan Bank stock   6,591       129       7.83       6,340       147       9.27  
                                   
    Commercial loans   306,373       4,261       5.56       280,559       3,765       5.37  
    Residential mortgage loans   4,387,181       43,236       3.94       4,359,232       40,819       3.75  
    Home equity lines of credit   428,933       6,830       6.39       364,210       5,814       6.42  
    Installment loans   12,523       230       7.35       15,395       262       6.86  
                                   
    Loans, net of unearned income   5,135,010       54,557       4.25       5,019,396       50,660       4.04  
                                   
    Total interest earning assets   6,153,629     $ 64,472       4.19       5,975,865     $ 60,585       4.06  
                                   
    Allowance for credit losses on loans   (50,777 )                 (49,454 )            
    Cash & non-interest earning assets   204,006                   181,688              
                                   
                                   
    Total assets $ 6,306,858                 $ 6,108,099              
                                   
                                   
    Liabilities and shareholders’ equity                              
                                   
    Deposits:                              
    Interest bearing checking accounts $ 1,039,242     $ 536       0.21 %   $ 1,009,048     $ 288       0.11 %  
    Money market accounts   470,824       2,086       1.78       524,068       2,228       1.71  
    Savings   1,087,467       733       0.27       1,145,922       675       0.24  
    Time deposits   2,085,329       19,195       3.69       1,873,139       19,400       4.17  
                                   
    Total interest bearing deposits   4,682,862       22,550       1.93       4,552,177       22,591       2.00  
    Short-term borrowings   81,055       176       0.87       93,703       206       0.89  
                                   
    Total interest bearing liabilities   4,763,917     $ 22,726       1.91       4,645,880     $ 22,797       1.97  
                                   
    Demand deposits   777,956                   735,262              
    Other liabilities   73,903                   76,258              
    Shareholders’ equity   691,082                   650,699              
                                   
    Total liabilities and shareholders’ equity $ 6,306,858                 $ 6,108,099              
                                   
    Net interest income     $ 41,746                 $ 37,788          
                                   
    Net interest spread           2.28 %             2.09 %  
                                   
                                   
    Net interest margin (net interest income to                              
    total interest earning assets)           2.71 %             2.53 %  
    DISTRIBUTION OF ASSETS, LIABILITIES AND SHAREHOLDERS’ EQUITY –
    INTEREST RATES AND INTEREST DIFFERENTIAL, Continued
                                     
    (dollars in thousands)                                
    (Unaudited) Six Months Ended     Six Months Ended  
      June 30, 2025     June 30, 2024  
      Average   Interest       Average     Average   Interest     Average  
      Balance           Rate     Balance         Rate  
    Assets                                
                                     
    Securities available for sale:                                
    U. S. government sponsored enterprises $ 74,071       1,210       3.27 %   $ 119,908       1,815       3.03 %
    Mortgage backed securities and collateralized mortgage                                
    obligations – residential   242,083       3,096       2.56       254,665       2,945       2.31  
    State and political subdivisions   18             6.77       26       1       6.82  
    Corporate bonds   32,823       470       2.86       64,345       838       2.60  
    Small Business Administration – guaranteed                                
    participation securities   14,540       156       2.15       17,830       194       2.18  
    Mortgage backed securities and collateralized mortgage                                
    obligations – commercial                                    
    Other   698       15       4.30       695       5       1.44  
                                     
    Total securities available for sale   364,233       4,947       2.72       457,469       5,798       2.53  
                                     
    Federal funds sold and other short-term Investments   631,148       13,944       4.46       502,072       13,644       5.47  
                                     
    Held to maturity securities:                                
    Mortgage backed securities and collateralized mortgage                                
    obligations – residential   5,101       111       4.35       6,192       133       4.29  
                                     
    Total held to maturity securities   5,101       111       4.35       6,192       133       4.29  
                                     
    Federal Home Loan Bank stock   6,549       280       8.55       6,271       299       9.54  
                                     
    Commercial loans   302,173       8,426       5.58       278,871       7,425       5.33  
    Residential mortgage loans   4,386,418       85,851       3.92       4,359,351       81,236       3.73  
    Home equity lines of credit   421,498       13,265       6.35       358,607       11,277       6.32  
    Installment loans   12,744       465       7.36       15,761       526       6.72  
                                     
    Loans, net of unearned income   5,122,833       108,007       4.22       5,012,590       100,464       4.01  
                                     
    Total interest earning assets   6,129,864       127,289       4.16       5,984,594       120,338       4.03  
                                     
    Allowance for credit losses on loans   (50,627 )                   (49,139 )            
    Cash & non-interest earning assets   202,590                     188,364              
                                     
                                     
    Total assets $ 6,281,827                   $ 6,123,819              
                                     
                                     
    Liabilities and shareholders’ equity                                
                                     
    Deposits:                                
    Interest bearing checking accounts $ 1,038,733       1,094       0.21 %   $ 999,589       528       0.11 %
    Money market accounts   469,952       4,075       1.75       534,378       4,570       1.72  
    Savings   1,088,408       1,467       0.27       1,152,241       1,387       0.24  
    Time deposits   2,069,998       38,178       3.72       1,881,535       39,077       4.18  
                                     
    Total interest bearing deposits   4,667,091       44,814       1.94       4,567,743       45,562       2.01  
    Short-term borrowings   82,125       356       0.87       93,510       410       0.88  
                                     
    Total interest bearing liabilities   4,749,216       45,170       1.92       4,661,253       45,972       1.98  
                                     
    Demand deposits   769,923                     730,781              
    Other liabilities   76,308                     83,105              
    Shareholders’ equity   686,380                     648,680              
                                     
    Total liabilities and shareholders’ equity $ 6,281,827                   $ 6,123,819              
                                     
    Net interest income       82,119                   74,366          
                                     
    Net interest spread             2.24 %             2.05 %
                                     
                                     
    Net interest margin (net interest income to                                
    total interest earning assets)             2.68 %             2.48 %

    Non-GAAP Financial Measures Reconciliation

    Tangible book value per share is a non-GAAP financial measure derived from GAAP-based amounts. We calculate tangible book value by excluding the balance of intangible assets from total shareholders’ equity divided by shares outstanding. We believe that this is consistent with the treatment by bank regulatory agencies, which exclude intangible assets from the calculation of risk-based capital ratios. Additionally, we believe that this measure is important to many investors in the marketplace who are interested in relative changes from period to period in equity exclusive of changes in intangible assets.

    Tangible equity as a percentage of tangible assets at period end is a non-GAAP financial measure derived from GAAP-based amounts. We calculate tangible equity and tangible assets by excluding the balance of intangible assets from total shareholders’ equity and total assets, respectively. We calculate tangible equity as a percentage of tangible assets at period end by dividing tangible equity by tangible assets at period end. We believe that this is consistent with the treatment by bank regulatory agencies, which exclude intangible assets from the calculation of risk-based capital ratios. Additionally, we believe that this measure is important to many investors in the marketplace who are interested in relative changes from period to period in equity and total assets, each exclusive of changes in intangible assets.

    Adjusted efficiency ratio is a non-GAAP measures of expense control relative to revenue from net interest income and non-interest fee income. We calculate the efficiency ratio by dividing total non-interest expense by the sum of net interest income and total non-interest income. We calculate the adjusted efficiency ratio by dividing total noninterest expenses as determined under GAAP, excluding other real estate expense, net, by net interest income and total noninterest income as determined under GAAP, excluding net gains on equity securities. We believe that this provides a reasonable measure of primary banking expenses relative to primary banking revenue. Additionally, we believe this measure is important to investors looking for a measure of efficiency in our productivity measured by the amount of revenue generated for each dollar spent.

    We believe that these non-GAAP financial measures provide information that is important to investors and that is useful in understanding our financial results. Our management internally assesses our performance based, in part, on these measures. However, these non-GAAP financial measures are supplemental and not a substitute for an analysis based on GAAP measures. As other companies may use different calculations for these measures, this presentation may not be comparable to other similarly titled measures reported by other companies. A reconciliation of the non-GAAP measures of tangible book value to shares outstanding, tangible equity as a percentage of tangible assets, and efficiency ratio to the most directly comparable GAAP measures is set forth below.  

    NON-GAAP FINANCIAL MEASURES RECONCILIATION              
                   
    (dollars in thousands)              
    (Unaudited)              
        6/30/2025   3/31/2025   6/30/2024      
    Tangible Book Value Per Share              
                   
    Equity (GAAP)   $ 692,805     $ 687,808     $ 655,168        
    Less: Intangible assets     553       553       553        
    Tangible equity (Non-GAAP)   $ 692,252     $ 687,255     $ 654,615        
                   
    Shares outstanding     18,851       19,020       19,010        
    Tangible book value per share     36.72       36.13       34.44        
    Book value per share     36.75       36.16       34.46        
                   
    Tangible Equity to Tangible Assets              
    Total Assets (GAAP)   $ 6,348,375     $ 6,338,545     $ 6,106,644        
    Less: Intangible assets     553       553       553        
    Tangible assets (Non-GAAP)   $ 6,347,822     $ 6,337,992     $ 6,106,091        
                   
    Consolidated Equity to Assets (GAAP)     10.91 %     10.85 %     10.73 %      
    Consolidated Tangible Equity to Tangible Assets (Non-GAAP)     10.91 %     10.84 %     10.72 %      
                   
        Three months ended   Six Months Ended
    Efficiency and Adjusted Efficiency Ratios   6/30/2025 3/31/2025 6/30/2024   6/30/2025     6/30/2024  
    Net interest income (GAAP) A $ 41,746     $ 40,373     $ 37,788     $ 82,119     $ 74,366  
    Non-interest income (GAAP) B   4,852       4,974       5,651       9,826       10,494  
    Less: Net gains on equity securities                 1,360             1,360  
    Revenue used for efficiency ratio (Non-GAAP) C $ 46,598     $ 45,347     $ 42,079     $ 91,945     $ 83,500  
                   
    Total noninterest expense (GAAP) D $ 26,223     $ 26,329     $ 26,459     $ 52,552     $ 51,362  
    Less: Other real estate expense, net E   522       28       16       550       90  
    Expense used for efficiency ratio (Non-GAAP) F $ 25,701     $ 26,301     $ 26,443     $ 52,002     $ 51,272  
                   
    Efficiency Ratio (GAAP) D/(A+B)   56.27 %     58.06 %     60.91 %     57.16 %     60.53 %
    Adjusted Efficiency Ratio (Non-GAAP) F/C   55.15 %     58.00 %     62.84 %     56.56 %     61.40 %

    Subsidiary: Trustco Bank

    Contact: Robert Leonard
      Executive Vice President
      (518) 381-3693

    The MIL Network

  • MIL-OSI: Arizona Sonoran to Present at the Metals & Mining Virtual Investor Conference July 23

    Source: GlobeNewswire (MIL-OSI)

    CASA GRANDE, Ariz. and TORONTO, July 21, 2025 (GLOBE NEWSWIRE) — Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”), an emerging US-based copper developer, today announces that George Ogilvie, President, CEO and Director, will present live at the Metals & Mining Virtual Investor Conference hosted by VirtualInvestorConferences.com on July 23, 2025.

    DATE: July 23
    TIME: 12:30 pm ET
    LINK: REGISTER HERE
    Available for 1×1 meetings: July 28

    This will be a live, interactive online event where investors are invited to ask the company questions in real-time. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available after the event.

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

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

    Recent Company Highlights:

    • Well-funded with recent C$57.6 million financings (June 20, 2025, July 10, 2025)
    • Advancing to PFS in 2025
    • Brownfield open pit project with significant in place infrastructure
    • Lower-risk copper cathode developer on private land in Arizona


    Neither the TSX nor the regulating authority has approved or disproved the information contained in this press release.

    About Arizona Sonoran Copper Company (www.arizonasonoran.com | www.cactusmine.com)
    ASCU is a copper exploration and development company with a 100% interest in the brownfield Cactus Project. The Project, on privately held land, contains a large-scale porphyry copper resource and a recent 2024 PEA proposes a generational open pit copper mine with robust economic returns. Cactus is a lower risk copper developer benefitting from a State-led permitting process, in place infrastructure, highways and rail lines at its doorstep and onsite permitted water access. The Company objective is to develop Cactus and become a mid-tier copper producer with low operating costs, that could generate robust returns and provide a long-term sustainable and responsible operation for the community, investors and all stakeholders. The Company is led by an executive management team and Board which have a long-standing track record of successful project delivery in North America complemented by global capital markets expertise.

    About Virtual Investor Conferences®
    Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors. Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access. Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.

    For more information:
    Alison Dwoskin, Director, Investor Relations
    647-233-4348
    adwoskin@arizonasonoran.com

    George Ogilvie, President, CEO and Director
    416-723-0458
    gogilvie@arizonasonoran.com

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

    Cautionary Statements regarding Forward-Looking Statements and Other Matters
    Forward-Looking Statements 
    All statements, other than statements of historical fact, contained or incorporated by reference in this press release constitute “forward-looking statements” and ” “forward-looking information” (collectively, “forward-looking statements”) within the meaning of applicable Canadian and United States securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “anticipated”, “become”, “believe”, “continuing”, “developer”, “emerging”, “forward”, “generational”, “long-term”, “looking”, “may”, “objective”, “ongoing”, “PEA”, “PFS”, “potential”, “pre-feasibility”, “preliminary”, “project”, “projected”, “proposes”, “provide”, “risk”, “study”, ”subject to”, and “will”, “or variations of such words, and similar such words, expressions or statements that certain actions, events or results can, could, may, should, would, will (or not) be achieved, occur, provide, result or support in the future, or which, by their nature, refer to future events. In some cases, forward-looking information may be stated in the present tense, such as in respect of current matters that may be continuing, or that may have a future impact or effect.  Forward-looking statements include those relating to the Company’s presentation at the Metals & Mining Virtual Investor Conference on July 23, 2025; the Company being well-funded, the ongoing pre-feasibility study (or PFS) in respect of the Cactus Project and the timing thereof); the 2024 PEA and results thereof (including risk, economic returns, operating costs, production, and proposal of a generational open pit copper mine); and the Company’s strategic and other objectives (including development of the Cactus Project, becoming a mid-tier copper producer with low operating costs, that could generate robust returns and provide a long-term sustainable and responsible operation for the community, investors and all stakeholders, and any other continuing or future successes). Although the Company believes that such statements are reasonable, there can be no assurance that those forward-looking statements will prove to be correct, and any forward-looking statements by the Company are not guarantees of future actions, results or performance. Forward-looking statements are based on assumptions, estimates, expectations and opinions, which are considered reasonable and represent best judgment based on available facts, as of the date such statements are made. If such assumptions, estimates, expectations and opinions prove to be incorrect, actual and future results may be materially different than expressed or implied in the forward-looking statements.  The assumptions, estimates, expectations and opinions referenced, contained or incorporated by reference in this press release which may prove to be incorrect include those set forth or referenced in this press release, as well as those stated in the technical report for the Cactus Project filed on August 27, 2024 (the “2024 PEA Technical Report”), the Company’s Annual Information Form dated March 27, 2025 (the “AIF”), Management’s Discussion and Analysis (together with the accompanying financial statements) disclosed for the year ended December 31, 2024 and filed for quarter(s) already ended in 2025 (collectively, the “2024-25 Financial Disclosure”), and the Company’s other applicable public disclosure (collectively, “Company Disclosure”), all available on the Company’s website at www.arizonasonoran.com and under its issuer profile at www.sedarplus.ca. Forward-looking statements are inherently subject to known and unknown risks, uncertainties, contingencies and other factors which may cause the actual results, performance or achievements of ASCU to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks, uncertainties, contingencies and other factors include, among others, the “Risk Factors” in the AIF, and the risks, uncertainties, contingencies and other factors identified in the 2024 PEA Technical Report and the 2024-25 Financial Disclosure. The foregoing list of risks, uncertainties, contingencies and other factors is not exhaustive; readers should consult the more complete discussion of the Company’s business, financial condition and prospects that is provided in the AIF, the 2024-25 Financial Disclosure and other Company Disclosure. Although ASCU has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this press release (or as otherwise expressly specified) and ASCU disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements referenced or contained in this press release are expressly qualified by these Cautionary Statements as well as the Cautionary Statements in the AIF, the 2024 PEA Technical Report and the 2024-25 Financial Disclosure, all available on the Company’s website at www.arizonasonoran.com and under its issuer profile at www.sedarplus.ca.

    Preliminary Economic Assessments
    The Preliminary Economic Assessment (or “2024 PEA”) referenced in this press release and summarized in the 2024 PEA Technical Report is only a conceptual study of the potential viability of the Cactus Project and the economic and technical viability of the Cactus Project has not been demonstrated. The 2024 PEA is preliminary in nature and provides only an initial, high-level review of the Cactus Project’s potential and design options; there is no certainty that the 2024 PEA will be realized. For further detail on the Cactus Project and the 2024 PEA, including applicable technical notes and cautionary statements, please refer to the Company’s press release dated August 7, 2024 and the 2024 PEA Technical Report, both available on the Company’s website at www.arizonasonoran.com and under its issuer profile at www.sedarplus.ca.

    The MIL Network

  • MIL-OSI: Arizona Sonoran to Present at the Metals & Mining Virtual Investor Conference July 23

    Source: GlobeNewswire (MIL-OSI)

    CASA GRANDE, Ariz. and TORONTO, July 21, 2025 (GLOBE NEWSWIRE) — Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”), an emerging US-based copper developer, today announces that George Ogilvie, President, CEO and Director, will present live at the Metals & Mining Virtual Investor Conference hosted by VirtualInvestorConferences.com on July 23, 2025.

    DATE: July 23
    TIME: 12:30 pm ET
    LINK: REGISTER HERE
    Available for 1×1 meetings: July 28

    This will be a live, interactive online event where investors are invited to ask the company questions in real-time. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available after the event.

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

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

    Recent Company Highlights:

    • Well-funded with recent C$57.6 million financings (June 20, 2025, July 10, 2025)
    • Advancing to PFS in 2025
    • Brownfield open pit project with significant in place infrastructure
    • Lower-risk copper cathode developer on private land in Arizona


    Neither the TSX nor the regulating authority has approved or disproved the information contained in this press release.

    About Arizona Sonoran Copper Company (www.arizonasonoran.com | www.cactusmine.com)
    ASCU is a copper exploration and development company with a 100% interest in the brownfield Cactus Project. The Project, on privately held land, contains a large-scale porphyry copper resource and a recent 2024 PEA proposes a generational open pit copper mine with robust economic returns. Cactus is a lower risk copper developer benefitting from a State-led permitting process, in place infrastructure, highways and rail lines at its doorstep and onsite permitted water access. The Company objective is to develop Cactus and become a mid-tier copper producer with low operating costs, that could generate robust returns and provide a long-term sustainable and responsible operation for the community, investors and all stakeholders. The Company is led by an executive management team and Board which have a long-standing track record of successful project delivery in North America complemented by global capital markets expertise.

    About Virtual Investor Conferences®
    Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors. Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access. Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.

    For more information:
    Alison Dwoskin, Director, Investor Relations
    647-233-4348
    adwoskin@arizonasonoran.com

    George Ogilvie, President, CEO and Director
    416-723-0458
    gogilvie@arizonasonoran.com

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

    Cautionary Statements regarding Forward-Looking Statements and Other Matters
    Forward-Looking Statements 
    All statements, other than statements of historical fact, contained or incorporated by reference in this press release constitute “forward-looking statements” and ” “forward-looking information” (collectively, “forward-looking statements”) within the meaning of applicable Canadian and United States securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “anticipated”, “become”, “believe”, “continuing”, “developer”, “emerging”, “forward”, “generational”, “long-term”, “looking”, “may”, “objective”, “ongoing”, “PEA”, “PFS”, “potential”, “pre-feasibility”, “preliminary”, “project”, “projected”, “proposes”, “provide”, “risk”, “study”, ”subject to”, and “will”, “or variations of such words, and similar such words, expressions or statements that certain actions, events or results can, could, may, should, would, will (or not) be achieved, occur, provide, result or support in the future, or which, by their nature, refer to future events. In some cases, forward-looking information may be stated in the present tense, such as in respect of current matters that may be continuing, or that may have a future impact or effect.  Forward-looking statements include those relating to the Company’s presentation at the Metals & Mining Virtual Investor Conference on July 23, 2025; the Company being well-funded, the ongoing pre-feasibility study (or PFS) in respect of the Cactus Project and the timing thereof); the 2024 PEA and results thereof (including risk, economic returns, operating costs, production, and proposal of a generational open pit copper mine); and the Company’s strategic and other objectives (including development of the Cactus Project, becoming a mid-tier copper producer with low operating costs, that could generate robust returns and provide a long-term sustainable and responsible operation for the community, investors and all stakeholders, and any other continuing or future successes). Although the Company believes that such statements are reasonable, there can be no assurance that those forward-looking statements will prove to be correct, and any forward-looking statements by the Company are not guarantees of future actions, results or performance. Forward-looking statements are based on assumptions, estimates, expectations and opinions, which are considered reasonable and represent best judgment based on available facts, as of the date such statements are made. If such assumptions, estimates, expectations and opinions prove to be incorrect, actual and future results may be materially different than expressed or implied in the forward-looking statements.  The assumptions, estimates, expectations and opinions referenced, contained or incorporated by reference in this press release which may prove to be incorrect include those set forth or referenced in this press release, as well as those stated in the technical report for the Cactus Project filed on August 27, 2024 (the “2024 PEA Technical Report”), the Company’s Annual Information Form dated March 27, 2025 (the “AIF”), Management’s Discussion and Analysis (together with the accompanying financial statements) disclosed for the year ended December 31, 2024 and filed for quarter(s) already ended in 2025 (collectively, the “2024-25 Financial Disclosure”), and the Company’s other applicable public disclosure (collectively, “Company Disclosure”), all available on the Company’s website at www.arizonasonoran.com and under its issuer profile at www.sedarplus.ca. Forward-looking statements are inherently subject to known and unknown risks, uncertainties, contingencies and other factors which may cause the actual results, performance or achievements of ASCU to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks, uncertainties, contingencies and other factors include, among others, the “Risk Factors” in the AIF, and the risks, uncertainties, contingencies and other factors identified in the 2024 PEA Technical Report and the 2024-25 Financial Disclosure. The foregoing list of risks, uncertainties, contingencies and other factors is not exhaustive; readers should consult the more complete discussion of the Company’s business, financial condition and prospects that is provided in the AIF, the 2024-25 Financial Disclosure and other Company Disclosure. Although ASCU has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this press release (or as otherwise expressly specified) and ASCU disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements referenced or contained in this press release are expressly qualified by these Cautionary Statements as well as the Cautionary Statements in the AIF, the 2024 PEA Technical Report and the 2024-25 Financial Disclosure, all available on the Company’s website at www.arizonasonoran.com and under its issuer profile at www.sedarplus.ca.

    Preliminary Economic Assessments
    The Preliminary Economic Assessment (or “2024 PEA”) referenced in this press release and summarized in the 2024 PEA Technical Report is only a conceptual study of the potential viability of the Cactus Project and the economic and technical viability of the Cactus Project has not been demonstrated. The 2024 PEA is preliminary in nature and provides only an initial, high-level review of the Cactus Project’s potential and design options; there is no certainty that the 2024 PEA will be realized. For further detail on the Cactus Project and the 2024 PEA, including applicable technical notes and cautionary statements, please refer to the Company’s press release dated August 7, 2024 and the 2024 PEA Technical Report, both available on the Company’s website at www.arizonasonoran.com and under its issuer profile at www.sedarplus.ca.

    The MIL Network

  • MIL-OSI: CarGurus To Report Second Quarter 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    BOSTON, July 21, 2025 (GLOBE NEWSWIRE) — CarGurus, Inc. (Nasdaq: CARG), the No. 1 visited digital auto platform for shopping, buying, and selling new and used vehicles1, announced it will issue a press release reporting financial results for the quarter ended June 30, 2025, after the close of the market on August 7, 2025.

    CarGurus will host a conference call and live webcast to discuss those financial results for investors and analysts at 5:00 p.m. Eastern Time on August 7, 2025. To access the conference call, dial (877) 451-6152 for the U.S. or Canada, or (201) 389-0879 for international callers. The webcast will be available live on the Investors section of the company’s website at https://investors.cargurus.com.

    An audio replay of the call will also be available to investors beginning at approximately 8:00 p.m. Eastern Time on August 7, 2025, until 11:59 p.m. Eastern Time on August 21, 2025, by dialing (844) 512-2921 for the U.S. or Canada, or (412) 317-6671 for international callers, and entering passcode 13754096. In addition, an archived webcast will be available on the Investors section of the company’s website at https://investors.cargurus.com.

    About CarGurus, Inc.

    CarGurus (Nasdaq: CARG) is a multinational, online automotive platform for buying and selling vehicles that is building upon its industry-leading listings marketplace with both digital retail solutions and the CarOffer online wholesale platform. The CarGurus platform gives consumers the confidence to purchase and/or sell a vehicle either online or in-person, and it gives dealerships the power to accurately price, effectively market, instantly acquire, and quickly sell vehicles, all with a nationwide reach. The company uses proprietary technology, search algorithms, and data analytics to bring trust, transparency, and competitive pricing to the automotive shopping experience. CarGurus is the most visited automotive shopping site in the U.S.1

    In addition to the U.S. marketplace, the company operates online marketplaces under the CarGurus brand in Canada and the U.K., as well as independent online marketplace brands Autolist in the U.S. and PistonHeads in the U.K.

    To learn more about CarGurus, visit www.cargurus.com, and for more information about CarOffer, visit www.caroffer.com.

    CarGurus® is a registered trademark of CarGurus, Inc., and CarOffer® is a registered trademark of CarOffer, LLC. All other product names, trademarks, and registered trademarks are the property of their respective owners.

    1Similarweb: Traffic Report [Cars.com, Autotrader, TrueCar, CARFAX Listings (defined as CARFAX Total visits minus Vehicle History Reports traffic)], Q1 2025, U.S.

    Investor Contact:
    Kirndeep Singh
    Vice President, Head of Investor Relations
    investors@cargurus.com

    Media Contact:
    Maggie Meluzio
    Director, Public Relations & External Communications
    pr@cargurus.com

    The MIL Network

  • MIL-OSI: CarGurus To Report Second Quarter 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    BOSTON, July 21, 2025 (GLOBE NEWSWIRE) — CarGurus, Inc. (Nasdaq: CARG), the No. 1 visited digital auto platform for shopping, buying, and selling new and used vehicles1, announced it will issue a press release reporting financial results for the quarter ended June 30, 2025, after the close of the market on August 7, 2025.

    CarGurus will host a conference call and live webcast to discuss those financial results for investors and analysts at 5:00 p.m. Eastern Time on August 7, 2025. To access the conference call, dial (877) 451-6152 for the U.S. or Canada, or (201) 389-0879 for international callers. The webcast will be available live on the Investors section of the company’s website at https://investors.cargurus.com.

    An audio replay of the call will also be available to investors beginning at approximately 8:00 p.m. Eastern Time on August 7, 2025, until 11:59 p.m. Eastern Time on August 21, 2025, by dialing (844) 512-2921 for the U.S. or Canada, or (412) 317-6671 for international callers, and entering passcode 13754096. In addition, an archived webcast will be available on the Investors section of the company’s website at https://investors.cargurus.com.

    About CarGurus, Inc.

    CarGurus (Nasdaq: CARG) is a multinational, online automotive platform for buying and selling vehicles that is building upon its industry-leading listings marketplace with both digital retail solutions and the CarOffer online wholesale platform. The CarGurus platform gives consumers the confidence to purchase and/or sell a vehicle either online or in-person, and it gives dealerships the power to accurately price, effectively market, instantly acquire, and quickly sell vehicles, all with a nationwide reach. The company uses proprietary technology, search algorithms, and data analytics to bring trust, transparency, and competitive pricing to the automotive shopping experience. CarGurus is the most visited automotive shopping site in the U.S.1

    In addition to the U.S. marketplace, the company operates online marketplaces under the CarGurus brand in Canada and the U.K., as well as independent online marketplace brands Autolist in the U.S. and PistonHeads in the U.K.

    To learn more about CarGurus, visit www.cargurus.com, and for more information about CarOffer, visit www.caroffer.com.

    CarGurus® is a registered trademark of CarGurus, Inc., and CarOffer® is a registered trademark of CarOffer, LLC. All other product names, trademarks, and registered trademarks are the property of their respective owners.

    1Similarweb: Traffic Report [Cars.com, Autotrader, TrueCar, CARFAX Listings (defined as CARFAX Total visits minus Vehicle History Reports traffic)], Q1 2025, U.S.

    Investor Contact:
    Kirndeep Singh
    Vice President, Head of Investor Relations
    investors@cargurus.com

    Media Contact:
    Maggie Meluzio
    Director, Public Relations & External Communications
    pr@cargurus.com

    The MIL Network

  • MIL-OSI USA: In Letter to Trump, Cantwell Unveils 5-Point Plan to Improve Nation’s Weather Readiness in the Face of NOAA Cuts

    US Senate News:

    Source: United States Senator for Washington Maria Cantwell

    07.21.25

    In Letter to Trump, Cantwell Unveils 5-Point Plan to Improve Nation’s Weather Readiness in the Face of NOAA Cuts

    Cantwell to Trump: “We have a once-in-a-lifetime opportunity to create the world’s best weather forecasting system…”

    WASHINGTON, D.C. – Senator Maria Cantwell (D-Wash), ranking member of the Senate Committee on Commerce, Science, and Transportation – the committee that oversees the National Oceanic and Atmospheric Administration (NOAA) and the National Weather Service (NWS) – today sent a letter to President Donald Trump outlining her five-point plan to bolster the United States’ weather readiness.

    “Communities across the United States are experiencing more frequent, intense, and costly flash floods, hurricanes, tornadoes, atmospheric rivers, landslides, heatwaves, and wildfires,” Sen. Cantwell wrote. “The lessons from Kerrville, Palisades, Asheville, Lahaina, and too many other natural disasters are that providing Americans with more timely and accurate weather information can avoid billions in property losses and save lives. We have a once-in-a-lifetime opportunity to create the world’s best weather forecasting system that would provide Americans with much more detailed and customized alerts days instead of minutes ahead of a looming extreme weather event.”

    Sen. Cantwell’s five recommendations for President Trump are:

    1. Modernize Weather Data Collection: The United States needs to collect and compile more data by land, air, space, and sea by modernizing our weather data infrastructure and other tools, including better radars, hurricane hunters, weather satellites, and ocean buoys.
    • Radar: Upgrading the nation’s aging Doppler radar network will enable meteorologists to deliver more accurate forecasts and provide longer warning lead times. Higher resolution data from new technology called phased array radar can “see” into the storm in ways not visible on current radar. It can zoom in on the most dangerous features of extreme weather and scan the atmosphere in under a minute, six times faster than current radar, to detect rapid changes like tornado formation or microbursts. NOAA is planning to replace the current outdated Doppler network but lacks the resources necessary to develop the best radar technology and infrastructure at the pace we need them to.
    • Hurricane Hunters: NOAA studies have found that including data collected by the Hurricane Hunters improved forecast accuracy by at least 10 to 15 percent. NOAA needs to rebuild its Hurricane Hunter aircraft fleet by replacing the current WP-3D Hurricane Hunter aircraft that have been in service since the 1970s and will be decommissioned by 2030. NOAA’s 2022 Aircraft Plan calls for four new C-130 aircraft to meet this mission, and the bipartisan National Defense Authorization Act for Fiscal Year 2023 (P.L. 117-263, § 11708(b)) included authorization for up to six new aircraft.
    • Weather Satellites: NOAA’s satellites are its “eyes in the sky” that stay locked in place above the United States and give scientists continuous data on storms as they develop. NOAA needs to expand these capabilities with the next generation of weather satellites like the Geostationary Extended Observations (GeoXO) satellite system. Updated satellites will be able to track lightning strikes that start wildfires and smoke which impacts air quality and human health.
    • Buoys and Ocean Data: NOAA’s Integrated Ocean Observing System (IOOS) is a network of buoys, gliders, high frequency radar arrays, and other instruments that gather ocean data critical for weather forecasting, search and rescue, and navigation. we need to modernize and recapitalize aging infrastructure and better integrate ocean data into our weather forecasting models. Enacting the Integrated Ocean Observation System Reauthorization Act of 2025 (S.2126), bipartisan legislation sponsored by Senators Roger Wicker and Cantwell, will help maintain and resource IOOS infrastructure and networks.
    1. World Leading Analytics: We need to catch up with and surpass European weather forecasting capabilities, which will require more supercomputing and improvements in data analytics including assimilation.
    • We want the best forecasts in the world, but the U.S. models are often outperformed by the European model.
    • NOAA needs to increase its focus and investment in supercomputing, data analytics, and data assimilation, a key technique in weather forecasting that combines real-world observations with a numerical weather model.
    • Better forecasts are in reach, we just need to invest in the people and the computing power to be competitive.
    1. Cutting Edge Research: As our communities experience more frequent and extreme weather, now is the time to invest in additional cutting-edge basic and applied research.
    • For decades, NOAA’s Office of Oceanic and Atmospheric Research (OAR) has supported next-generation science and technology that enables increasingly adept forecasting products and services that save lives from extreme weather events.
    • While NOAA’s OAR only accounts for about 10 percent of the agency’s funding, its work has far-reaching impacts including better flash flood and precipitation prediction, developing next generation hurricane models, and improving extreme heat planning scenarios.
    • The office also focuses on ways to better communicate extreme weather threats to the public. For example, NOAA’s National Severe Storm Laboratory in Oklahoma is testing a new tornado and extreme weather early warning system. Even though it’s still in the testing phase, in March the system provided Missouri communities two hours of lead time, allowing 120 people to seek shelter before a dangerous EF-3 tornado touched down. Current tornado warnings only give communities 13 minutes of warning on average.
    1. Modernizing Alert Systems: We must strengthen and expand weather emergency communication channels to keep the public informed and help first responders prepare and react to natural disasters.
    • Americans need more timely, relevant, and actionable information so they know when to get out of harm’s way. Investments like upgrading NOAA’s weather radio technology from obsolete copper technologies to Internet or satellite-based systems are vital to providing reliable and continuous weather and emergency alerts.
    • Expanding NOAA’s VHF broadcasts to reach rural areas that other systems do not reliably cover will provide irreplaceable hazard alerts for campers, tourists, hunters, and tribal members, as well as mining, forestry, and agriculture workers living in remote areas.
    • However, no single alert technology should be considered sufficient in an emergency. We should augment both public and private alert communications and embrace multi-channel delivery systems to ensure messages reach users via their preferred platforms, whether that is through FM and AM radio, apps, websites, SMS, push notifications, television, or social media. The private sector can provide value-added information including more customized alerts and warnings and giving people additional ways to access critical and timely information.
    • Expanding current FEMA programs to build out local sirens and provide first responders with crucial flood maps and satellite images will also significantly enhance local disaster response capabilities.
    1. Advance Bipartisan Legislation: The bipartisan Weather Act Reauthorization Act of 2024 would strengthen weather research and forecasting and expand commercial data partnerships.
    • A bipartisan bill Chairman Ted Cruz and I introduced last year, the Weather Act Reauthorization Act of 2024 (S. 5601), would modernize the essential research programs you signed into law in the 2017 Weather Act and establish new programs to advance forecasting, strengthen emergency preparedness, and support farmers and resource managers with better tools for agriculture and water management.
    • The legislation would take the critical first steps in addressing NOAA’s aging radar network by directing the agency to design and deploy the next generation of weather radar technology. It also expands and codifies public-private partnerships to acquire and utilize innovative data sources, supporting efforts like the Commercial Data Program. Former House Science Chairman Frank Lucas and Ranking Member Zoe Lofgren introduced a bipartisan companion bill in the House (H.R. 3816) last month, which will be marked up by the full Committee this Wednesday.

    This morning, Sen. Cantwell joined CNN’s Pamela Brown to discuss her plan to improve the nation’s weather readiness. The interview is HERE.

    On Sunday, July 13, Sen. Cantwell joined CBS’s Face the Nation with Margaret Brennan to discuss the importance of funding and staffing for NOAA and the NWS.

    “The more you can move people and resources out of the way of a storm, the more you can predict what might happen, the better prepared we’re going to be. And that’s going to help us save lives, and certainly save dollars,” Sen. Cantwell told Brennan. Video of her segment is HERE and HERE; a transcript is HERE.

    NOAA’s cutting-edge science informs NWS weather forecasts, which help local communities prepare for and respond to events like the recent deadly floods in Central Texas. President Trump’s proposed budget would slash NOAA’s funding by $2.2 billion – a 27% cut – and his DOGE team has caused over 2,000 job losses at the agency since January.

    Earlier this month, Sen. Cantwell questioned Dr. Neil Jacobs, President Donald Trump’s nominee to head NOAA, about his plans to preserve the agency’s mission as the administration continues to hack away at NOAA’s budget, workforce, and programs.

    Last month, Sen. Cantwell joined renowned meteorologists from across the country for a virtual presser to sound the alarm on the NWS cuts, and called on the Trump Administration to restore the agency to full capacity.

    The full text of the letter to President Trump is below:

    July 21, 2025

    The Honorable Donald J. Trump

    The White House

    1600 Pennsylvania Avenue, N.W.

    Washington, DC 20500

    Dear Mr. President,

    Communities across the United States are experiencing more frequent, intense, and costly flash floods, hurricanes, tornadoes, atmospheric rivers, landslides, heatwaves, and wildfires. The lessons from Kerrville, Palisades, Asheville, Lahaina, and too many other natural disasters are that providing Americans with more timely and accurate weather information can avoid billions in property losses and save lives. We have a once-in-a-lifetime opportunity to create the world’s best weather forecasting system that would provide Americans with much more detailed and customized alerts days instead of minutes ahead of a looming extreme weather event.

    There is strong support for making the generational investments necessary to become a weather ready nation that will empower Americans to get out of harm’s way. It will take better weather data collection, world leading analytics, cutting edge research, modernizing alert systems, and a partnership between your Administration and Congress to pass enabling legislation. To that end, I offer the following five recommendations that if pursued on a bipartisan basis would make America the world leader in weather forecasting:

    1) Modernizing Weather Data Collection

    We need to compile more data by land, air, space, and sea by modernizing our weather data collection tools, including better radar, hurricane hunters, weather satellites, and ocean buoys

    Radar: Upgrading the nation’s aging Doppler radar network will enable meteorologists to deliver more accurate forecasts and provide longer warning lead times. It does this with higher resolution data from phased array radar (PAR) to “see” into the storm in ways not visible on current radar. PAR can detect rapid changes in storms like tornado formation or microbursts, improve tracking of hazards like hail, and zoom in on the most dangerous features of extreme weather. These systems can also scan the atmosphere in under a minute, six times faster than current radar, detecting rapid changes in the storm for increased warning lead times and fewer false alarms.

    This new technology should replace the current analog Doppler radar systems from the 1980s, which are increasingly costly to maintain and risks failure every day. NOAA is planning to replace the current outdated Doppler network but lacks the resources necessary to develop the best radar technology and infrastructure at the pace we need them to.

    Hurricane Hunter Aircraft: NOAA studies have found that including data collected by the Hurricane Hunters improved forecast accuracy by at least 10 to 15 percent. However, NOAA needs to rebuild its Hurricane Hunter aircraft fleet by replacing the current WP-3D Hurricane Hunter aircraft that have been in service since the 1970s and will be decommissioned by 2030. New C-130 Hurricane Hunter aircraft are more capable than the half-century old WP-3D aircraft, with the ability to deploy more drones and uncrewed systems, conduct higher resolution scans from more advanced radar, and provide highly accurate wind, temperature, pressure, and humidity measurements from additional sensors.

    NOAA’s 2022 Aircraft Plan calls for four new C-130 aircraft to meet this mission, and the bipartisan National Defense Authorization Act for Fiscal Year 2023 (P.L. 117-263, § 11708(b)) included authorization for up to six new aircraft. While two C-130 aircraft are funded, completing the fleet modernization in fiscal year 2026 will ensure forecasters can utilize this irreplaceable data source to better predict the path and intensity of hurricanes headed toward the United States, which is crucial for first responders to inform evacuations and pre-position emergency resources.

    Weather Satellites: NOAA’s satellites are its “eyes in the sky” that stay locked in place above the United States and give scientists continuous data on storms as they develop. NOAA needs to expand these capabilities with the next generation of weather satellites, the Geostationary Extended Observations (GeoXO) satellite system. Once launched, GeoXO can track lightning strikes that start wildfires, wildfire smoke, red tides that poison fisheries, and generally provide better extreme weather early warning capabilities. For example, if GeoXO had been deployed during the 2023 Canadian wildfire smoke event that blanketed much of the eastern United States, its instruments could have provided hourly, high-resolution maps of smoke pollution, enabling more accurate health advisories and allowing schools, airlines, and outdoor workers to make safer decisions. This year, smoke from massive Canadian wildfires is again posing health risks to Americans across the country. This is new technology that does not exist in today’s satellite system.

    To get these next generation satellites built, NOAA must proceed with the recommendations laid out under your first Administration and build the planned network of six satellites, five instruments, and supporting ground systems. The data from the Lightning Mapper (LMX), Sounder (GXS), Atmospheric Composition (ACX), Imager (GXI), and Ocean Color (OCX) instruments are key and necessary inputs for any world leading forecasting model.

    Buoys and Ocean Data: NOAA’s Integrated Ocean Observing System (IOOS) is a network of buoys, gliders, high frequency radar arrays, and other instruments that gather ocean data critical for weather forecasting, search and rescue, and navigation. The IOOS network provides real-time surface and subsurface ocean temperature measurements that feed into NOAA’s hurricane forecast model to detect rapid intensification of hurricanes and other extreme storms. For example, the above average warm water in the Gulf contributed to the recent flash flooding in Central Texas, while changes to tropical weather patterns and ocean temperatures have contributed to flooding across the country, from the Southwest through the Mid-Atlantic and into the Northeast. Just halfway through the summer, according to the National Weather Service, the country has already experienced twice as many floods in July as usual.

    To preserve and expand the critical real-time data these buoys provide, we need to modernize and recapitalize aging infrastructure and better integrate ocean data into our weather forecasting models. Enacting the Integrated Ocean Observation System Reauthorization Act of 2025 (S.2126), bipartisan legislation Senator Roger Wicker and I introduced, will help maintain and resource IOOS infrastructure and networks.

    2) World Leading Analytics

    Catching up with and surpassing European weather forecasting capabilities will require more supercomputing and improvements in data analytics

    NOAA has long aimed to close the performance gap between its Global Forecast System (GFS) and the European Centre for Medium-Range Weather Forecasts, which often outperforms U.S. forecasts. For example, in October 2012, the European model correctly predicted Hurricane Sandy would turn toward the U.S. East Coast seven to eight days in advance, while the U.S. model initially forecast it would head out to sea, missing the U.S. entirely. Of course, Sandy did hit the U.S., with devastating effects for the entire Mid-Atlantic region, killing 254 people and causing nearly $70 billion in damages. Conversely, in 2015, the European model predicted Hurricane Joaquin would stay offshore, which it did, while the U.S. model forecast a direct hit on the East Coast, prompting costly emergency preparations that were ultimately unnecessary. And in February 2021, when a historic Arctic outbreak plunged Texas and much of the South into record cold with heavy snow and ice, and the European model provided more accurate early guidance on the extent and longevity of the cold air mass. According to NOAA and the Texas Department of State Health Services, at its peak, the power outages that resulted left nearly 10 million people in the cold and dark, unable to cook food, and resulted in more than 200 deaths.

    In order to catch up to Europe’s highly advanced weather modeling, NOAA needs to increase its focus and investment in supercomputing, data analytics, and data assimilation, a key technique in weather forecasting that combines real-world observations with a numerical weather model. We need to take steps to expand the GFS ensemble system with higher resolution and better physics, refine the Unified Forecast System, and streamline the path from research to operations with projects like the Earth Prediction Innovation Center (EPIC) to improve collaboration with external scientists and the private sector. All of this will require Congress to provide NOAA with more supercomputing resources if we are to lead the world in weather forecasting.

    3) Cutting Edge Research

    As our communities experience more frequent and extreme weather, now is the time to invest in additional cutting-edge basic and applied research

    For decades, NOAA’s Office of Oceanic and Atmospheric Research has supported next-generation science and technology that enables increasingly adept forecasting products and services that save lives from extreme weather events. While NOAA research only accounts for about 10 percent of the agency’s funding, its work has far-reaching impacts including better flash flood and precipitation prediction, developing next generation hurricane models, and improving extreme heat planning scenarios. The research arm also operates testbeds where new technologies and models are rigorously evaluated before they are transitioned to NOAA operations or private sector applications.

    The office also focuses on ways to better communicate extreme weather threats to the public. For example, NOAA’s National Severe Storm Laboratory in Oklahoma is testing a new tornado and extreme weather early warning system. Even though it’s still in the testing phase, in March the system provided Missouri communities two hours of lead time, allowing 120 people to seek shelter before a dangerous EF-3 tornado touched down. Current tornado warnings only give communities 13 minutes of warning on average.

    4) Modernizing Alert Systems

    We must strengthen and expand weather emergency communication channels to keep the public informed and help first responders prepare and react to natural disasters

    Americans need more timely, relevant, and actionable information so they know when to get out of harm’s way. Investments like upgrading NOAA’s weather radio technology from obsolete copper technologies to Internet or satellite-based systems are vital to providing reliable and continuous weather and emergency alerts. Expanding NOAA’s VHF broadcasts to reach rural areas that other systems do not reliably cover will provide irreplaceable hazard alerts for campers, tourists, hunters, and tribal members, as well as mining, forestry, and agriculture workers living in remote areas. Expanding current FEMA programs to build out local sirens and provide first responders with crucial flood maps and satellite images will also significantly enhance local disaster response capabilities.

    However, no single alert technology should be considered sufficient in an emergency. We should augment both public and private alert communications and embrace multi-channel delivery systems to ensure messages reach users via their preferred platforms, whether that is through FM and AM radio, apps, websites, SMS, push notifications, television, or social media. The private sector can provide value-added information including more customized alerts and warnings, giving people additional ways to access critical and timely information.

    5) Advancing Bipartisan Legislation

    The bipartisan Weather Act Reauthorization Act of 2024 would strengthen weather research and forecasting and expand commercial data partnerships

    A bipartisan bill Chairman Ted Cruz and I introduced last year, the Weather Act Reauthorization Act of 2024 (S. 5601) would modernize the essential research programs you signed into law in the 2017 Weather Act and establish new programs to advance forecasting, strengthen emergency preparedness, and support farmers and resource managers with better tools for agriculture and water management. The legislation also expands and codifies public-private partnerships to acquire and utilize innovative data sources, supporting efforts like the Commercial Data Program. Former House Science Chairman Frank Lucas and Ranking Member Zoe Lofgren introduced a bipartisan companion bill in the House (H.R. 3816) last month.

    Now is the time to take the tough lessons learned in the wake of the recent natural disasters and human tragedies in places like Texas, North Carolina, and New Mexico and create the world’s best weather prediction system. We must meet the moment or the situation is only going to get worse. The United States used to experience an average of nine extreme weather events every year that cost over $1 billion each, but in the last five years the number of disasters has spiked to an average of 23 per year, and last year it was 27 events. A recent comprehensive government study predicted that extreme weather will cost Americans $1.5 trillion over the next decade, not including loss of life or health-related costs. That’s why the costs of making the once-in-a-lifetime smart investments described above are minuscule compared to savings that better weather forecasting will provide every American.

    Sincerely,

    MIL OSI USA News

  • MIL-OSI Canada: Prime Minister Carney meets with His Majesty King Abdullah II of Jordan

    Source: Government of Canada – Prime Minister

    Today, the Prime Minister, Mark Carney, met with His Majesty King Abdullah II of Jordan during His Majesty’s visit to Canada. This was their first in-person meeting since the Prime Minister took office.

    Prime Minister Carney welcomed His Majesty King Abdullah II to Ottawa. The leaders underscored the long-standing partnership between Canada and Jordan, including in trade, defence, and security. They discussed opportunities to strengthen bilateral commerce and investment as Canada diversifies its trade partners and builds a stronger economy.

    To that end, Prime Minister Carney announced that Canada will allocate $28.4 million to support border security and development efforts in Jordan. This includes helping Jordanian security forces protect against terrorism and transnational crime, using Canadian steel to repair border infrastructure, and reducing global pressures by assisting with education, health, and job creation for refugees.

    The Prime Minister and His Majesty also discussed the situation in the Middle East, including the imperative of a ceasefire in Gaza, called for urgent, life-saving humanitarian aid to reach civilians, and the imperative for stability in Syria.

    His Majesty King Abdullah II thanked Prime Minister Carney for his hospitality, and the leaders looked forward to remaining in close contact.

    Associated links

    MIL OSI Canada News

  • MIL-OSI Canada: Tribunal Terminates Inquiry—Corrosion-resistant Steel Sheet from Türkiye

    Source: Government of Canada News

    Ottawa, Ontario, July 21, 2025—The Canadian International Trade Tribunal today terminated its final injury inquiry to determine whether the dumping of corrosion-resistant steel sheet, originating in or exported from the Republic of Türkiye, by Borçelik Çelik Sanayi Ticaret, has injured Canadian producers. The Tribunal’s inquiry was required by law as a result of the initiation of a dumping investigation by the Canada Border Services Agency (CBSA).

    On July 16, 2025, the CBSA determined that there had been no dumping and terminated its dumping investigation. Therefore, the Tribunal will not continue its final injury inquiry.

    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.

    MIL OSI Canada News

  • MIL-OSI Canada: Minister Dabrusin to make an announcement in Vancouver to highlight the importance of empowering young Canadians to address climate change and support a healthy environment

    Source: Government of Canada News

    Yellowknife, Northwest Territories – July 21, 2025 – Media representatives are advised that the Honourable Julie Dabrusin, Minister of Environment and Climate Change, will make an announcement in Vancouver to highlight the importance of empowering young Canadians to address climate change and support a healthy environment. She will be joined by Ross Beaty, Board Chair of BC Parks Foundation.

    Event: Announcement and media availability
    Date: Tuesday, July 22, 2025
    Time: 9:00 a.m. (PDT)
    Location: General Wolf Elementary School
    4251 Ontario Street
    Vancouver, British Columbia

    To be made aware of any changes, media representatives are encouraged to register for this in-person event by contacting Environment and Climate Change Canada’s Media Relations at media@ec.gc.ca.

    MIL OSI Canada News

  • MIL-OSI Canada: Regrowing Alberta’s Forests

    Source: Government of Canada News

    July 21, 2025
    Calgary, Alberta
    Natural Resources Canada

    The Government of Canada, together with Indigenous communities, private and non-profit sector leaders, and provincial partners, is taking action to regenerate Alberta’s forests — protecting clean air and preserving the province’s vast natural landscapes for generations to come.

    Today, Corey Hogan, Parliamentary Secretary to the Honourable Tim Hodgson, Canada’s Minister of Energy and Natural Resources, announced, in collaboration with Project Forest, The Carbon Farmer and FIND Biomass Inc, a joint investment of over $125 million for four projects that will plant 12 million trees and restore critical habitat for species at risk throughout Alberta, such as caribou.

    Investments will help to create and restore biodiverse forests and wildlife habitat and sequester carbon while creating seasonal and full-time jobs for surrounding communities in Alberta. We are not just planting trees — we are building a stronger, healthier and more-resilient Canada.

    MIL OSI Canada News

  • MIL-OSI Canada: Backgrounder: Regrowing Alberta’s Forests

    Source: Government of Canada News

    On July 21 2025, Corey Hogan, Parliamentary Secretary to the Honourable Tim Hodgson, Canada’s Minister of Energy and Natural Resources, announced a joint investment of over $125 million for four projects that will plant 12 million trees and restore critical habitats for species at risk throughout Alberta.

    Under Canada’s 2 Billion Trees (2BT) Program, the following projects are receiving funding:

    Project name: Alberta Afforestation
    Recipient: The Carbon Farmer
    Location: Peace Country, Alberta
    Funding amount: $13,797,079
    Description: The Carbon Farmer is spearheading a new initiative — Alberta Afforestation — to plant trees across Alberta’s Peace Country, transforming previously cleared agricultural lands into thriving forests on private properties. Working with local farmers and surrounding forest communities, this project will plant over six million trees, create numerous seasonal and full-time jobs for farmers and local professionals, increase wildlife habitat and sequester carbon.

    Project name: Rewilding Canada: Planting Diverse Forests in Partnership with First Nations, Conservation Groups and Research Institutions
    Recipient: Project Forest
    Location: various sites, Alberta
    Funding amount: $2,933,621
    Description: This project aims to transform former agricultural lands into biodiverse forests. By restoring these landscapes, the initiative will deliver a wide range of benefits to Indigenous communities, including:

    • one million new trees planted on various sites across Alberta, including the Siksika Nation reserve;
    • improved soil health, increased biodiversity and restoration of wildlife habitats, including Elk habitats; 
    • support for Indigenous land stewardship, reclamation of cultural heritage and preservation of Indigenous Knowledge; 
    • 10–15 jobs annually in remote communities; and 
    • training opportunities for youth through a partnership with the University of Alberta.

    Project name: High Yield Afforestation
    Recipient: First Indigenous Biomass Future Inc.
    Location: Cardiff, Alberta
    Funding amount: $558,968
    Description:  First Indigenous Biomass Inc., an Indigenous-owned company, is driving forward its project, which is set to plant over 100,000 trees across 65 hectares near Cardiff, revitalizing the land and contributing to long-term environmental and community resilience. The project will:

    • establish a new forest;
    • create jobs for Indigenous women and youth; and
    •  sequester carbon.

    Project name: Caribou Habitat Recovery Program
    Recipient: Government of Alberta
    Location: various sites, Alberta
    Funding amount: $83,718,501
    Description: Through a new agreement between Canada and Alberta, the province is expanding its Caribou Habitat Recovery Program — taking action to reduce habitat fragmentation and support the long-term recovery of caribou populations across Alberta. This expansion will: 

    • plant nearly five million new trees by 2030; 
    • restore vegetation within the 15 caribou ranges in the province; 
    • increase forest resiliency and wildlife diversity and protect species at risk; 
    • create jobs and training opportunities for rural and Indigenous communities; and 
    • support local cultural and spiritual activities, including food collection.

    MIL OSI Canada News

  • MIL-OSI Economics: Arbitrators issue award in EU-China intellectual property dispute

    Source: WTO

    Headline: Arbitrators issue award in EU-China intellectual property dispute

    This is the second appeal arbitration conducted under the Multi-Party Interim Appeal Arbitration Arrangement (MPIA) to which both China and the European Union are participants.
    Summary of key findings 

    Download:

    In pdf format:

    What is the MPIA?
    The MPIA was agreed upon among its original 18 participating members in April 2020 to provide the possibility of resorting to arbitration under Article 25 of the DSU in case of an appeal in disputes between any two or more participating members. Currently the following WTO members are parties to the MPIA: Australia; Benin; Brazil; Canada; Chile; China; Colombia; Costa Rica; Ecuador; the European Union; Guatemala; Hong Kong, China; Iceland; Japan; Macao, China; Malaysia; Mexico; Montenegro; New Zealand; Nicaragua; Norway; Pakistan; Paraguay; Peru; the Philippines; Singapore; Switzerland; Ukraine; the United Kingdom; and Uruguay.

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    MIL OSI Economics

  • MIL-OSI Economics: Arbitrators issue award in EU-China intellectual property dispute

    Source: WTO

    Headline: Arbitrators issue award in EU-China intellectual property dispute

    This is the second appeal arbitration conducted under the Multi-Party Interim Appeal Arbitration Arrangement (MPIA) to which both China and the European Union are participants.
    Summary of key findings 

    Download:

    In pdf format:

    What is the MPIA?
    The MPIA was agreed upon among its original 18 participating members in April 2020 to provide the possibility of resorting to arbitration under Article 25 of the DSU in case of an appeal in disputes between any two or more participating members. Currently the following WTO members are parties to the MPIA: Australia; Benin; Brazil; Canada; Chile; China; Colombia; Costa Rica; Ecuador; the European Union; Guatemala; Hong Kong, China; Iceland; Japan; Macao, China; Malaysia; Mexico; Montenegro; New Zealand; Nicaragua; Norway; Pakistan; Paraguay; Peru; the Philippines; Singapore; Switzerland; Ukraine; the United Kingdom; and Uruguay.

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    MIL OSI Economics

  • MIL-OSI Economics: Members highlight progress in sustainability discussions, discuss MC14 objectives

    Source: WTO

    Headline: Members highlight progress in sustainability discussions, discuss MC14 objectives

    Ambassador Nadia Theodore of Canada, a co-convener of TESSD, welcomed the “important strides” made by the four working groups — each focused on a different key theme outlined above . As work intensifies in the lead-up to MC14, she noted: “It is useful to recall that, as an incubator of ideas, our aim is to identify where trade policy can best support members’ efforts to achieve their environmental and climate goals and promote more sustainable production and consumption.”
    Progress in working groups
    The facilitators of the four TESSD working groups updated members on progress made in recent technical discussions, with several highlighting advances in drafting outcome documents in preparation for MC14. Feedback from members is currently being incorporated into the outcome documents and revised versions will be circulated ahead of the next working group meetings in October.
    Jean-Marie Meraldi of Switzerland, the facilitator of the Working Group on Trade-Related Climate Measures (TrCMs) highlighted the discussions held in May, which focused on the interoperability of carbon border adjustment mechanisms (CBAMs). Key topics included carbon standards, emissions measurement methodologies, and data exchange frameworks. Members also reviewed the first draft outcome document mapping trade-related climate policies. Work is now underway to refine the document’s structure and incorporate members’ feedback.
    Ben Rake of the United Kingdom, co-facilitator of the Working Group on Environmental Goods and Services (EGS) reported that discussions have proceeded on two fronts: sector-specific topics such as sustainable agriculture and climate adaptation, and horizontal issues, including trade facilitation and regulatory practices. The group continued to develop its analytical summary.  A revised version will be reviewed at the October meeting.
    Taka Sashida of Japan and Nur Karabağ  of Türkiye, the co-facilitators of the Working Group on Economy-Circularity reported that members had recently shared a range of experiences  on promoting circularity in the textiles and battery sectors. Members also discussed a draft outcome document for MC14. They broadly supported compiling members’ practices and trade policy tools to capture trade-related aspects of circularity across four key sectors — textiles, batteries, electronics and renewable energy.
    Tiffany Smith, co-facilitator of the Working Group on Subsidies said members have focused on policy incentives and international cooperation to support the decarbonization of energy-intensive industries — such as steel, aluminium and cement — as well as maritime transport. The first draft outcome document on key elements for subsidy design was introduced, including considerations for subsidy design and member experiences.
    Members and stakeholders welcomed the progress achieved across the four TESSD working groups, with many emphasizing their value in fostering inclusive, practical and technical discussions at the intersection of trade and environmental sustainability. Members supported the continued development of the outcome documents, underscoring the importance of transparency, stakeholder engagement, and the sharing of national experiences.
    They highlighted the need to address both horizontal and sector-specific issues and to include examples from developing members. Some suggested that members begin reflecting on the structure of the four working groups and the content of TESSD work beyond MC14. Some members asserted that TESSD has been successful in catalysing the uptake of multilateral discussions on trade-related climate measures and suggested shifting this work to the Committee on Trade and Environment.
    TESSD publication for MC14
    Ambassador Ronald Saborío of Costa Rica, also a co-convener of TESSD, introduced a draft annotated outline for planned TESSD publication for MC14 (INF/TE/SSD/W/40). The draft aims to consolidate key messages and substantive insights into how trade and trade policy can support climate and environmental goals, including the clean energy transition, decarbonization of industry and transport, climate adaptation, and biodiversity. The document also has a section on lessons learned and key messages for policymakers at both national and multilateral levels, along with a forward-looking vision for TESSD’s future work.
    Delegates welcomed the co-convenors’ draft outline for this overarching MC14 output as a good basis for further discussion, recognizing its value in consolidating five years of substantive work and enhancing transparency and understanding for a wide range of policymakers and stakeholders.
    Some members emphasized the importance of maintaining balance across different objectives, while others called for better integration of cross-cutting themes. Several delegates highlighted the importance of including case studies from members at different levels of development  to reflect diverse experiences. Others stressed that the document should remain non-prescriptive.
    In conclusion, Ambassador Saborío thanked participants for their constructive feedback. He reaffirmed TESSD’s commitment to helping members leverage trade to achieve environmental objectives. He said: “Over the past five years, TESSD has made remarkable progress toward its goals. We have created a platform for meaningful dialogue — one that is innovative, creative, active and transparent.” He encouraged continued collaboration in the lead-up to MC14 and assured members that their inputs would be reflected in the revised outcome document.
    More information
    Guided by its 2021 Ministerial Statement, TESSD seeks to complement the work of the WTO Committee on Trade and Environment and advance discussions at the intersection of trade and environmental sustainability towards identifying concrete actions that members could take individually or collectively. The initiative, which is open to all WTO members, is currently co-sponsored by 78 members representing all regions and all levels of development.

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    MIL OSI Economics

  • MIL-OSI Economics: Members highlight progress in sustainability discussions, discuss MC14 objectives

    Source: WTO

    Headline: Members highlight progress in sustainability discussions, discuss MC14 objectives

    Ambassador Nadia Theodore of Canada, a co-convener of TESSD, welcomed the “important strides” made by the four working groups — each focused on a different key theme outlined above . As work intensifies in the lead-up to MC14, she noted: “It is useful to recall that, as an incubator of ideas, our aim is to identify where trade policy can best support members’ efforts to achieve their environmental and climate goals and promote more sustainable production and consumption.”
    Progress in working groups
    The facilitators of the four TESSD working groups updated members on progress made in recent technical discussions, with several highlighting advances in drafting outcome documents in preparation for MC14. Feedback from members is currently being incorporated into the outcome documents and revised versions will be circulated ahead of the next working group meetings in October.
    Jean-Marie Meraldi of Switzerland, the facilitator of the Working Group on Trade-Related Climate Measures (TrCMs) highlighted the discussions held in May, which focused on the interoperability of carbon border adjustment mechanisms (CBAMs). Key topics included carbon standards, emissions measurement methodologies, and data exchange frameworks. Members also reviewed the first draft outcome document mapping trade-related climate policies. Work is now underway to refine the document’s structure and incorporate members’ feedback.
    Ben Rake of the United Kingdom, co-facilitator of the Working Group on Environmental Goods and Services (EGS) reported that discussions have proceeded on two fronts: sector-specific topics such as sustainable agriculture and climate adaptation, and horizontal issues, including trade facilitation and regulatory practices. The group continued to develop its analytical summary.  A revised version will be reviewed at the October meeting.
    Taka Sashida of Japan and Nur Karabağ  of Türkiye, the co-facilitators of the Working Group on Economy-Circularity reported that members had recently shared a range of experiences  on promoting circularity in the textiles and battery sectors. Members also discussed a draft outcome document for MC14. They broadly supported compiling members’ practices and trade policy tools to capture trade-related aspects of circularity across four key sectors — textiles, batteries, electronics and renewable energy.
    Tiffany Smith, co-facilitator of the Working Group on Subsidies said members have focused on policy incentives and international cooperation to support the decarbonization of energy-intensive industries — such as steel, aluminium and cement — as well as maritime transport. The first draft outcome document on key elements for subsidy design was introduced, including considerations for subsidy design and member experiences.
    Members and stakeholders welcomed the progress achieved across the four TESSD working groups, with many emphasizing their value in fostering inclusive, practical and technical discussions at the intersection of trade and environmental sustainability. Members supported the continued development of the outcome documents, underscoring the importance of transparency, stakeholder engagement, and the sharing of national experiences.
    They highlighted the need to address both horizontal and sector-specific issues and to include examples from developing members. Some suggested that members begin reflecting on the structure of the four working groups and the content of TESSD work beyond MC14. Some members asserted that TESSD has been successful in catalysing the uptake of multilateral discussions on trade-related climate measures and suggested shifting this work to the Committee on Trade and Environment.
    TESSD publication for MC14
    Ambassador Ronald Saborío of Costa Rica, also a co-convener of TESSD, introduced a draft annotated outline for planned TESSD publication for MC14 (INF/TE/SSD/W/40). The draft aims to consolidate key messages and substantive insights into how trade and trade policy can support climate and environmental goals, including the clean energy transition, decarbonization of industry and transport, climate adaptation, and biodiversity. The document also has a section on lessons learned and key messages for policymakers at both national and multilateral levels, along with a forward-looking vision for TESSD’s future work.
    Delegates welcomed the co-convenors’ draft outline for this overarching MC14 output as a good basis for further discussion, recognizing its value in consolidating five years of substantive work and enhancing transparency and understanding for a wide range of policymakers and stakeholders.
    Some members emphasized the importance of maintaining balance across different objectives, while others called for better integration of cross-cutting themes. Several delegates highlighted the importance of including case studies from members at different levels of development  to reflect diverse experiences. Others stressed that the document should remain non-prescriptive.
    In conclusion, Ambassador Saborío thanked participants for their constructive feedback. He reaffirmed TESSD’s commitment to helping members leverage trade to achieve environmental objectives. He said: “Over the past five years, TESSD has made remarkable progress toward its goals. We have created a platform for meaningful dialogue — one that is innovative, creative, active and transparent.” He encouraged continued collaboration in the lead-up to MC14 and assured members that their inputs would be reflected in the revised outcome document.
    More information
    Guided by its 2021 Ministerial Statement, TESSD seeks to complement the work of the WTO Committee on Trade and Environment and advance discussions at the intersection of trade and environmental sustainability towards identifying concrete actions that members could take individually or collectively. The initiative, which is open to all WTO members, is currently co-sponsored by 78 members representing all regions and all levels of development.

    Share

    MIL OSI Economics

  • MIL-OSI Canada: Prime Minister Carney meets with United States senators

    Source: Government of Canada – Prime Minister

    Today, the Prime Minister, Mark Carney, met with a bipartisan delegation of United States senators in Ottawa. The Senator for Oregon, Ron Wyden, the Senator for Alaska, Lisa Murkowski, the Senator for New Hampshire, Maggie Hassan, and the Senator for Nevada, Catherine Cortez Masto, were present.

    The Prime Minister and the senators underscored the significance of the trading relationship between Canada and the U.S., including the important economic impact of Canadian businesses in the senators’ home states. They also discussed the sectors most impacted by the shifting trade landscape and Canada’s recent measures to transform our steel industry. They discussed work to strengthen continental defence and security, as well as Canada’s successes in dismantling illegal drug smuggling and securing the border. The Prime Minister and the senators expressed a shared commitment to tackling the scourge of the fentanyl crisis on both sides of the border.

    As Canada negotiates a new trade and security relationship with the U.S., the Prime Minister affirmed his focus on securing the best deal for Canadians. Last week, senior officials, including the Prime Minister’s Chief of Staff, Marc-André Blanchard, were in Washington, D.C., to advance negotiations. The President of the King’s Privy Council for Canada and Minister responsible for Canada-U.S. Trade, Intergovernmental Affairs and One Canadian Economy, Dominic LeBlanc, will be there this week to continue that work.

    Associated link

    MIL OSI Canada News

  • MIL-OSI Canada: Another Successful Year for The Veteran Service Club Support Program

    Source: Government of Canada regional news

    Released on July 21, 2025

    For the second consecutive year, the Saskatchewan Veterans Service Club Support Program has been fully subscribed in one intake.  

    Introduced in 2019-20, the program provides grants up to $30,000 to organizations such as Legion branches, Army, Navy and Air Force Veterans (ANAVETS) units and more.

    “Saskatchewan’s veterans’ service organizations play a vital role – enriching our communities, preserving local history and working tirelessly on behalf of veterans who have faithfully served our province and our country,” Parks, Culture and Sport Minister Alana Ross said. “We cannot thank these organizations enough for their continued efforts and look forward to continuing to support this amazing work.”

    For 2025-26, grants up to $30,000 were provided to 67 Legion branches, ANAVETS units, and other registered, non-profit veterans organizations across the province.

    Minister Ross was joined in Prince Albert by representatives from Royal Canadian Legion/Saskatchewan Command to see first-hand the improvements at ANAVETS Unit 222 that were funded through the program.

    The grant is used to support facility upgrades, operations, events and other activities to advance the work and help strengthen the long-term sustainability of veteran service organizations throughout the province.  

    Last year, ANAVETS Unit 222, in Prince Albert, received more than $28,400 to help update the plumbing in the lounge. In previous years, Unit 222 received funding to repair electrical and air conditioning, new flooring, replace the furnace, replace the bar counter and upgrade their parking lot lighting.  

    “For 2025-26, Unit 222 received $23,280 to perform renovations to the downstairs auditorium which includes relocation and repair of the stage, building a storage room, as well as other modifications to create a more functional room layout to host larger events,” ANAVETS Unit 222 President Floyd Lavalee said. “Projects like this, as well as previous years, would not have been possible if not for support from the Government of Saskatchewan through the Veterans Service Club Support Program. On behalf of the ANAVETS Unit 222 board, members and staff, we would like to extend a huge thank you for their commitment to provincial Veterans and their families.”

    The program is delivered collaboratively by the Royal Canadian Legion Saskatchewan Command, the Saskatchewan ANAVETS and the Government of Saskatchewan.

    More information about the program, guidelines, applications and eligibility are available through the Royal Canadian Legion Saskatchewan Command.

    -30-

    For more information, contact:

    MIL OSI Canada News

  • MIL-OSI: Northisle Copper & Gold Inc. to Present at the Metals & Mining Virtual Investor Conference July 23

    Source: GlobeNewswire (MIL-OSI)

    VANCOUVER, British Columbia, July 21, 2025 (GLOBE NEWSWIRE) — Northisle Copper & Gold Inc (OTCQX:NTCPF), based in Vancouver, BC, focused on copper, gold, molybdenum and rhenium, today announced that Sam Lee, President & CEO, will present live at the Metals & Mining Virtual Investor Conference hosted by VirtualInvestorConferences.com, on July 23, 2025.

    DATE: July 23
    TIME: 1:00 pm to 1:30 pm ET
    LINK: REGISTER HERE
    Available for 1×1 meetings: July 23 – 29

    This will be a live, interactive online event where investors are invited to ask the company
    questions in real-time. If attendees are not able to join the event live on the day of the
    conference, an archived webcast will also be made available after the event.

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

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

    Recent Company Highlights

    • Northisle Announces Upsize of Financing to C$35 Million; Wheaton Precious Metals to Invest C$5 Million
    • Northisle Announces Near Surface Intercepts and Higher-Grade Intercepts at Depth at West Goodspeed on its North Island Project
    • Northisle Commences Trading on the OTCQX Market Under the Symbol NTCPF
    • Northisle Commences 2025 Drilling and Field Program

    About Northisle Copper & Gold Inc.

    Northisle Copper and Gold Inc. is a Vancouver-based company whose mission is to become Canada’s leading sustainable mineral resource company for the future. Northisle, through its 100% owned subsidiary North Island Mining Corp., owns the North Island Project, which is one of the most promising copper and gold porphyry projects in Canada. The North Island Project is located near Port Hardy, British Columbia on a more than 34,000-hectare block of mineral titles 100% owned by Northisle on a belt stretching 50 kilometres northwest from the now closed Island Copper Mine operated by BHP Billiton. Since 2021, the Company has discovered two significant deposits, expanded resources, demonstrated the economic potential of the project, and is now focused on accelerating the advancement of this compelling project while exploring within this highly prospective land package.

    For more information on Northisle please visit the Company’s website at www.northisle.ca.

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

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

    CONTACTS:
    Northisle Copper & Gold Inc
    Nicholas Van Dyk
    Title: Chief Financial Officer
    Phone: (604) 335-3590
    Email: info@northisle.ca

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

    The MIL Network

  • MIL-OSI Canada: Saskatchewan Invests Over $800,000 In Housing and Supports for Women Leaving Custody

    Source: Government of Canada regional news

    Released on July 21, 2025

    A new multi-year agreement with Elizabeth Fry Society.

    The Government of Saskatchewan is investing $280,000 annually from 2025 to 2028 into the Elizabeth Fry Society of Saskatchewan to support the delivery of the Wikowin Supportive Housing Program. This program will help ensure that women leaving custody or under community supervision have access to safe, affordable housing and the supports they need to successfully reintegrate into the community. 

    “Reintegration is not easy, but it is possible with the right supports. Without a safe place to go, many individuals risk falling back into the justice system,” Corrections, Policing and Public Safety Minister Tim McLeod K.C said. “Through this investment, the Elizabeth Fry Society will help give women the footing they need to move forward and avoid returning to custody, which ultimately contributes to safer communities across the province.”

    As part of this program, Elizabeth Fry Society will provide consistent supervision of women residing at the property and provide a range of wraparound services, including addictions services, income assistance and where appropriate, family reunification. By targeting key risk factors and preparing participants for independent living, the program aims to reduce recidivism and promote successful reintegration.

    “This funding will allow us to provide safe, supportive housing for women leaving custody, women who deserve an opportunity to make meaningful change for themselves and their future,” Elizabeth Fry Society Executive Director Nicole Obrigavitch said. “We are grateful for this partnership with the Government of Saskatchewan, which reflects a shared commitment to doing things differently and supporting pathways to stability and healing.”

    This agreement builds on the province’s continued work with the Elizabeth Fry Society, including a separate $330,000 two-year investment announced last year to expand their presence in women’s correctional facilities to deliver culturally appropriate programs and supports to help clients succeed in their communities. The Government of Saskatchewan remains committed to strengthening the justice system’s efficiency through initiatives and collaborations like these.

    -30-

    For more information, contact:

    MIL OSI Canada News

  • MIL-OSI Canada: Canada signs $300 million grant to launch one of the world’s largest Indigenous-led land conservation projects

    Source: Government of Canada News (2)

    Today, the Honourable Julie Dabrusin, Minister of Environment and Climate Change, and Danny Yakeleya, Chair of the Our Land for the Future Trust, signed a historic grant agreement to launch NWT: Our Land for the Future, one of the largest Indigenous-led land conservation initiatives in the world. Backed by $375 million in new investments, including $300 million from Canada and $75 million from philanthropic partners, NWT: Our Land for the Future will support Indigenous-led stewardship and conservation across some of the world’s most intact boreal and tundra ecosystems while creating hundreds of good, culturally meaningful jobs across the territory.

    Indigenous partners to NWT: Our Land for the Future aim to conserve and steward up to 380,000 square kilometres of land and inland water, which is nearly 30% of the territory, including the protection and conservation of over 2% of Canada in new terrestrial and freshwater areas. This represents a space almost seven times the size of Nova Scotia.

    Key activities and initiatives that could receive funding include:

    • Indigenous Guardians, with support for operations, training, recruitment, and career development of Guardians who monitor ecological health, protect cultural sites, and safeguard sensitive areas and species.
    • Establishing and stewarding Protected Areas, Conserved Areas, and Indigenous Protected and Conserved Areas (IPCAs), both new and existing.
    • Climate action, including research, impact assessments, adaptation strategies, and mitigation activities related to climate change.
    • Local and regional conservation-based economic developments, such as Indigenous harvesting economies, ecotourism, cultural tourism, traditional arts, and artisanal enterprises will not only contribute to environmental preservation but also provide sustainable economic opportunities for Indigenous communities and the region at large.

    This groundbreaking partnership involves 21 Indigenous governments and organizations, the Government of Canada, the Government of the Northwest Territories, and private donors working together to advance Indigenous-led stewardship in the North for the benefit of all Canadians.

    Today marks a pivotal moment in our efforts toward climate action and conservation. NWT: Our Land for the Future stands out as one of the largest Indigenous-led land conservation efforts globally, aiming to foster sustainable practices and economic growth throughout the Northwest Territories. This initiative, led and governed by Indigenous peoples, will advance large-scale, long-term conservation, stewardship, and economic development throughout the Northwest Territories. It will generate hundreds of good, culturally meaningful jobs, sustaining Indigenous ways of life for generations to come and drive climate action and resilience. This initiative shows the progress possible through a tailored regional approach, engaging communities to identify important ecological and cultural areas. This not only provides clarity for industries but also streamlines conservation planning and project approvals. Initiatives like this will make it possible to protect these natural spaces for future generations.

    MIL OSI Canada News

  • MIL-OSI Canada: NWT: Our Land for the Future

    Source: Government of Canada News

    A transformative Indigenous-led conservation initiative in the Northwest Territories

    NWT: Our Land for the Future is one of the world’s largest Indigenous-led land conservation initiatives. With a focus on environmental protection, cultural revitalization, and sustainable economic development, the initiative will support long-term stewardship of the Northwest Territories’ land and water. It brings together 21 Indigenous governments and organizations in the Northwest Territories, the Government of Canada, the Government of the Northwest Territories, and private donors in a collaborative approach.

    Our Land for the Future is a Project Finance for Permanence (PFP) initiative, with federal support first announced at COP15 in December 2022. Project Finance for Permanence initiatives unite governments and private donors to create large-scale, lasting investments that protect ecosystems, sustain local economies, and advance Indigenous leadership. By taking a big-picture approach, Project Finance for Permanence initiatives deliver broad, lasting benefits for both people and the land.

    The Government of Canada is investing $300 million, with private donors contributing an additional $75 million. Donors have committed to match $1 for every $4 of federal investment. This represents the largest single investment in a Project Finance for Permanence initiative in Canada to date.

    The $375 million is being managed through the Our Land for the Future Trust. Indigenous government-appointed directors will make the key decisions about how funds are disbursed each year, guided by an annual operating plan approved by all partners. These funds will support the protection of vast, ecologically significant areas in the Northwest Territories; strengthen Indigenous leadership; and help build a resilient, Northern economy.

    This initiative will help diversify the Northern economy. It will bring millions of dollars into the territory and create hundreds of culturally meaningful jobs. This will mean many jobs in more communities, not just concentrated in Yellowknife.

    Indigenous governments and partners to the Our Land for the Future agreement are the sole beneficiaries of the Trust and will aim to conserve and steward up to 380,000 square kilometres of land and inland water. This includes protecting over 2% of Canada in new terrestrial and freshwater areas, representing a space almost seven times the size of Nova Scotia and contributing significantly to the national goal of conserving 30% of land and water by 2030.

    Key activities and initiatives that could receive funding include:

    Indigenous Guardians

    • Support for Indigenous Guardians initiatives to monitor land, water, and wildlife health; safeguard cultural sites; and contribute to environmental stewardship.

    Climate action and resilience

    • Climate-related research—such as impact assessments, adaptation planning, and mitigation strategies—to address challenges like wildfires and water scarcity.

    Sustainable economic development

    • Advance conservation-based economies, including ecotourism, traditional harvesting, artisanal enterprises, and land-based cultural programs.
    • Create hundreds of culturally meaningful jobs annually across Northwest Territories’ communities.

    Partners of NWT: Our Land for the Future

    • Gwich’in Tribal Council
    • North Slave Métis Alliance
    • Tłı̨chǫ Government
    • Délı̨nę Got’ı̨nę Government
    • Fort Good Hope Dene and Métis
    • Tulita Dene and Métis
    • Yellowknives Dene First Nation, Dettah
    • Yellowknives Dene First Nation, Ndilo
    • Smith’s Landing First Nation
    • Łutsël K’é Dene First Nation
    • Deninu K’ue First Nation
    • Northwest Territory Métis Nation
    • Fort Resolution Métis Government
    • Dehcho First Nations
    • Tthets’éhk’edélî First Nation
    • Ka’a’gee Tu First Nation
    • Nahɂą Dehé Dene Band
    • Pehdzeh Ki First Nation
    • Sambaa K’e First Nation
    • Acho Dene Koe First Nation
    • Kátł’odeeche First Nation
    • Government of Canada
    • Government of the Northwest Territories
    • The Pew Charitable Trusts
    • The Waltons Trust
    • Metcalf Foundation

    MIL OSI Canada News

  • MIL-OSI Submissions: As Canada’s economy faces serious challenges, the Indigenous economy offers solutions

    Source: The Conversation – Canada – By Mylon Ollila, PhD Candidate in Indigenous Economic Policy, Université du Québec en Abitibi-Témiscamingue (UQAT)

    Canada faces economic headwinds due to geopolitical change, including a trade war with its closest economic partner, the United States.

    Canada’s policymakers are searching for new, sustainable sources of economic strength. One such source is already here and is being overlooked: the emerging Indigenous economy. It has the potential to boost Canada’s economy by more than $60 billion a year.

    But Indigenous Peoples are still largely seen as an economic liability to manage instead of an opportunity for growth. It is time for a mindset shift. For it to happen, the federal government should remove unfair economic barriers and invest in closing the employment and income gap.

    Canada’s future depends on Indigenous Peoples

    Economic growth is projected to decline over the coming years for developed nations, with Canada expected to have the lowest GDP of the 38 OECD countries by 2060. As growth stalls, living standards will decline and governments will face increased fiscal pressure.

    Compounding this challenge is Canada’s aging labour force. The number of people aged 65 and over is growing six times faster than the number of children aged 14 and under — those who will be entering the job market in the coming years. This demographic shift places additional pressure on pensions, the health-care system and the economy.




    Read more:
    Enabling better aging: The 4 things seniors need, and the 4 things that need to change


    But these gloomy projections often overlook one of Canada’s comparative advantages: a young Indigenous population, growing at a rate outpacing the non-Indigenous population. While Indigenous Peoples comprise five per cent of Canada’s population, they only contribute 2.4 per cent of the total GDP.

    A BNN Bloomberg feature about the Indigenous economy in Canada.

    If Indigenous Peoples could participate in the economy at the same rate as non-Indigenous Canadians, their GDP contribution could increase from about $55 billion to well over $100 billion annually.

    Despite this potential, Canada has largely failed to invest in Indigenous Peoples and reform the colonial structures that create inequality.

    While some progress has been made, such as the First Nations Fiscal Management Act that offers communities tools to strengthen their economies, progress is still too slow.

    Economic barriers hold back First Nations

    There are two parts to every economy: economic advantages and the institutions that make those advantages actionable. Some institutions lower the costs of doing business and encourage investment, while others do the opposite. Investment naturally flows to places that have both economic advantages and low costs of doing business.

    In Canada, strong property rights lower the costs of doing business and support the finance of business ventures. An efficient tax system creates predictability and allows governments to provide services. Business-grade infrastructure reduces logistical costs. All these institutions work together to support Canada’s economic development.

    In contrast, First Nations communities are constrained by Canadian institutions. The Indian Act limits First Nations’ authority over their own affairs, segregating them from mainstream finance mechanisms. Unclear legal jurisdiction between federal, provincial and Indigenous governments and weak property rights discourage business investments.

    Limited authority and fiscal powers mean First Nations governments cannot provide services at national standards and must depend on other governments.

    Compounding these issues is the fragmented, insufficient and culturally inappropriate nature of federal support systems. First Nations people have economic advantages and an entrepreneurial spirit, but they are burdened with unfair economic barriers, such as inadequate infrastructure, limited access to capital and administrative hurdles.

    Investing in Indigenous economies is vital

    In 1997, the Royal Bank of Canada predicted that not investing in Indigenous Peoples would widen the socioeconomic gap. As predicted, this is what happened.

    Canada has consistently chosen to manage poverty instead of investing in growth. While financial support for Indigenous Peoples more than doubled over the last decade, it only resulted in modest improvement in living standards.

    The RoadMap Project, a national initiative led by the First Nations Financial Management Board and other Indigenous organizations, proposes a pathway to economic reconciliation. Investing in the Indigenous economy means supporting Indigenous training, providing access to capital for Indigenous organizations and reforming the institutions that continue to impose systemic barriers.

    Education is one of the most effective ways to reduce poverty, improve health outcomes and drive economic development. The federal government should therefore support training programs designed to meet Indigenous needs.

    Online learning could help remote communities achieve educational goals, but its success depends on major investments in high-speed internet access, which remains lacking in many areas.

    Indigenous organizations are best positioned to understand and respond to local training needs. That is why Indigenous control over revenue transfers and program design must be central to any future investments in education. To support this, the federal government should partner with Indigenous education institutions to develop common goals and values.

    Financing and supporting Indigenous growth

    Indigenous Peoples develop new businesses at nine times the Canadian average, but only receive 0.2 per cent of available credit. Most Indigenous enterprises are small and cannot grow without viable financing options.

    Yet, individual Indigenous entrepreneurs and First Nations governments face challenges securing loans and financial support.

    Internationally, development banks have been used to fill credit gaps when the private sector is unable to meet the needs of emerging economies.

    In Canada, the First Nations Financial Management Board and other Indigenous organizations are calling for a similar solution: the creation of an Indigenous Development Finance Organization. By lending to Indigenous governments and businesses, this finance organization could bridge the gap between the financial markets and the Indigenous economy.

    While investments in capacity and development finance are urgent needs, only the dismantling of economic barriers and increased access to effective institutions can assure Indigenous development.

    Legislation such as the First Nations Fiscal Management Act and the Framework Agreement on First Nation Land Management can support Indigenous economies through taxation, budgeting, land codes and financial laws. They offer a pathway between the Indian Act framework and self-government, without waiting on lengthy negotiations.

    Growing stronger together

    Canada’s economic future will remain uncertain if short-term solutions keep being prioritized while ignoring the growth potential of the Indigenous economy. Improvements to the status quo are no longer sufficient.

    The federal government must support Indigenous-led initiatives like the RoadMap Project to foster shared growth and prosperity for Indigenous Peoples and all Canadians alike. Investments are needed to narrow the employment and income gap through new supports for capacity, access to capital and institutional reform.

    Mylon Ollila is a Senior Strategist for the First Nations Financial Management Board.

    Hugo Asselin does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    ref. As Canada’s economy faces serious challenges, the Indigenous economy offers solutions – https://theconversation.com/as-canadas-economy-faces-serious-challenges-the-indigenous-economy-offers-solutions-261252

    MIL OSI

  • MIL-OSI Submissions: More than just a bad date: Navigating harms on LGBTQ+ dating apps

    Source: The Conversation – Canada – By Christopher Dietzel, Postdoctoral fellow, the DIGS Lab, Concordia University

    It is crucial to think about what you can do promote your safety while using dating apps, and before you click the download button. (Shutterstock)

    Dating apps like Tinder, Bumble and Grindr have become a ubiquitous part of modern dating for young people looking to meet potential partners. However, many Gen Z users are increasingly forgoing dating apps, feeling burnt out by the whole process.




    Read more:
    Why in-person dating is making a comeback — and why Gen Z is struggling with it


    Dating apps have been plagued with concerns about harassment, sexual and gender-based violence, romance scams and other safety issues. These risks are elevated for LGBTQ+ people who can experience hate crimes, physical violence and other harms when using dating apps.

    With anti-LGBTQ+ movements rising in Canada, the United States and around the world, it is important to understand the potential dangers of online dating and how LGBTQ+ people can promote their safety.

    We recently conducted an online survey that looks into LGBTQ+ people’s experiences with dating apps in Canada as part of a research project at Concordia University’s Digital Intimacy, Gender & Sexuality (DIGS) Lab. We analyzed 624 participant responses that reveal the different harms LGBTQ+ users face and the strategies they use to mitigate those harms.


    Dating today can feel like a mix of endless swipes, red flags and shifting expectations. From decoding mixed signals to balancing independence with intimacy, relationships in your 20s and 30s come with unique challenges. Love IRL is the latest series from Quarter Life that explores it all.

    These research-backed articles break down the complexities of modern love to help you build meaningful connections, no matter your relationship status.


    Harms against LGBTQ+ dating app users

    LGBTQ+ dating users can experience a variety of harms, including unwanted sexual advances, harassment, coercion, discrimination and catfishing.

    The most common types of harms that participants experienced were sexual harms (like receiving unsolicited sexual content, sexual harassment and sexual assault), emotional harms (like bullying and threatening behavior) and social harms (like discrimination and exclusion). Sexual harm was more common online and emotional harm was more common in person.

    Many trans and non-binary participants were insulted with slurs and told their identity was not real by other dating app users. Some people they matched with would also verbally attack them or make death threats. Other trans and non-binary participants reported that people were often nice and friendly online, but then would harass them in person.

    Like other studies have found, objectification and fetishization were also common for trans and non-binary users.

    Racialized LGBTQ+ users said people often made racist comments or used slurs against them. Racial stereotyping and fetishizing was also common. For example, one participant said that she received “comments about my body based on my race and implications of what a Black woman could do with her lips.”

    As an example of the discrimination Asian men experience, one participant said “white people tend to fetishize Asian bodies and assume they’re submissive.” Other research has similarly found that racial exclusion and racial fetishization are common on dating apps.

    There were participants who reported being drugged or sexually assaulted when they met someone in person. Unfortunately, many people who use dating apps say that they have experienced sexual violence online or in person.

    Younger LGBTQ+ users reported feeling pressured or coerced into doing sexual acts by older users. For example, one participant said they felt pushed into doing sexual acts they were not comfortable with.

    Sextortion is on the rise among youth, and dating apps can facilitate sextortion and romance scams.

    Strategies for staying safe

    If you or someone you know uses dating apps, there are steps you can take to make your experience safer.

    The LGBTQ+ people in our study employed strategies like verifying someone’s identity through video calls or by checking out their social media profiles. When meeting someone in person for the first time, participants would choose to meet in a public space and share their location with family or close friends.

    These are some examples of common strategies, often encouraged by dating app companies, that you can employ to promote your safety.

    Safety is not just the individual’s responsibility, however. Dating app companies need to keep their users safe, and participants from the survey gave suggestions to make dating apps safer. For instance, many recommended better content moderation systems to filter out inappropriate messages and problematic users.

    Participants wanted features to make it easier for marginalized communities to connect and avoid people who harass or discriminate. They also wanted better enforcement and stricter consequences for people who violated an app’s community guidelines, like making it impossible, not just harder, for banned users to get back on the apps.

    Some dating apps have recently implemented new safety features, but many users find their moderation systems inadequate.

    Protecting your privacy

    Dating apps have also been criticized for prioritizing profits over users’ security and well-being. That said, users do not want dating apps to police their every move. Too much moderation can impede authenticity and spontaneity.

    Another thing to think about is how new technology is being incorporated into the apps you use and what that means for your safety and privacy. Artificial intelligence (AI) is becoming more popular and accessible, and dating app companies are integrating this technology into their platforms to help manage user safety.

    However, AI in online dating raises new concerns about data privacy, content moderation and technological bias — all of which can negatively impact the user experience.

    App terms and conditions are notoriously long and difficult to understand, and most people are unlikely to read them at all.

    However, there is information publicly available to help you understand how your data will be used and stored. There are also features in some apps to help you manage your privacy.

    With evolving technologies and changes in the sociopolitical climate, these safety issues are not going away. In fact, they may become more complicated in the future. It is crucial to think about what you can do promote your safety while using dating apps, both online and in person.

    Christopher Dietzel receives funding from Le Fonds de recherche du Québec – Société et culture (FRQSC).

    André Matar does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    ref. More than just a bad date: Navigating harms on LGBTQ+ dating apps – https://theconversation.com/more-than-just-a-bad-date-navigating-harms-on-lgbtq-dating-apps-252297

    MIL OSI

  • MIL-OSI Canada: Government of Canada grants $1,859,000 to Just For Laughs Festival

    Source: Government of Canada News (2)

    Montréal, Quebec, July 21, 2025

    This year, the Just For Laughs Festival is back in Montréal from July 16 to 27 with new diverse programming where festive comic entertainment is front stage!

    Today, the Honourable Mélanie Joly, Minister of Industry and Minister responsible for Canada Economic Development for Quebec Regions (CED), along with the Honourable Steven Guilbeault, Minister of Canadian Identity and Culture and Minister responsible for Official Languages, announced a total of $1,859,000 in funding for the Just For Laughs Festival.

    CED is providing a non-repayable contribution of $1,359,000 under its Quebec Economic Development Program (QEDP) for the 2025 and 2026 editions of the festival. This assistance serves to support the promotion and marketing of the event, in addition to fostering the development of new products.

    For its part, Canadian Heritage is providing $500,000 through the Canada Arts Presentation Fund to support the 2025 edition of the festival. This funding will allow audiences to access rich bilingual programming, including comedy shows of all kinds.

    Quotes

    “The Just For Laughs Festival is one of our metropolis’s flagship events which, on top of generating significant economic impacts, helps to position Montréal as the world capital of festivals. That is why our government is today announcing significant funding to attract festivalgoers from all walks of life and to provide the public with a renewed experience. Congratulations to the entire team! I invite Montréalers and tourists from home and abroad to take advantage of a rich program that illustrates our diversity and cultural vitality!”

    – The Honourable Mélanie Joly, Minister of Industry and Minister responsible for CED

    “The Just For Laughs Festival is an integral part of Montréal’s cultural life. By showcasing both established artists and emerging talents, this major international event reflects the vitality, creativity and strength of our comedy scene. Our new government is proud to support this festival, which perfectly embodies the richness of our culture. Don’t miss this great opportunity to come together and laugh!”

    – The Honourable Steven Guilbeault, Minister of Canadian Identity and Culture and Minister responsible for Official Languages

    Quick facts

    • Montréal’s Just For Laughs Festival is the largest comedy festival in the world, a must-attend event that, every summer, transforms the metropolis into the world capital of laughter. For over 40 years, it has been celebrating humour in all its forms, bringing together renowned artists, rising stars and the next generation of talent in a rich, daring, inclusive program.
    • CED’s Quebec Economic Development Program helps communities seize economic development and diversification opportunities that are promising for the future.
    • The Canada Arts Presentation Fund provides financial assistance to organizations that professionally present arts festivals or performing arts series. It also supports organizations that offer support to arts presenters.

    Associated links

    Contacts

    For more information (media only), please contact:

    Isabella Orozco-Madison
    Director of Communications
    Office of the Minister of Industry and Minister responsible for Canada Economic Development for Quebec Regions
    isabella.orozco-madison@ised-isde.gc.ca

    Media Relations
    Canada Economic Development for Quebec Regions
    514-283-7443
    media@dec-ced.gc.ca

    Hermine Landry
    Press Secretary
    Office of the Minister of Canadian Identity and Culture and Minister responsible for Official Languages
    hermine.landry@pch.gc.ca

    Media Relations
    Canadian Heritage
    media@pch.gc.ca

    MIL OSI Canada News

  • MIL-OSI Submissions: AI and other future technologies will be necessary — but not sufficient — for enacting the UN’s Pact for the Future

    Source: The Conversation – Canada – By Joyeeta Gupta, Professor, Social and Behavioural Sciences, University of Amsterdam

    In September 2024, members of the United Nations adopted the Pact for the Future at the Summit of the Future, held in New York City. The pact, including its two annexes on the Declaration on Future Generations and the Global Digital Compact, builds on multilateral agreements following the UN 2030 Agenda for Sustainable Development.




    Read more:
    How the United Nations’ Pact for the Future could help heal a fractured world


    The pact commits to “protect the needs and interests of present and future generations through the actions stated in the pact.” These actions address the digital divide, inclusion, digital space that respects human rights and promotes responsible governance of artificial intelligence (AI).

    Additionally, the Declaration on Future Generations includes 10 principles and some actions. The pact also encourages accelerated development of AI, while considering both its positive and negative aspects within a broader aim to protect human rights.

    A 1972 image of the Earth taken during the Apollo 17 mission. Planetary justice means considering human and non-human life, Earth systems and responsible management of resources.
    (NASA)

    Meeting needs

    As the former co-chair of the Earth Commission and current co-chair of the UN 10-member group, I have worked on incorporating justice issues within environmental studies. Along with my colleagues, we recently published an article where we explain how we have developed Earth system boundaries based on the principle of not causing significant harm to others as part of a broader human rights and Earth systems justice approach.

    While the pact acknowledges and builds on the Sustainable Development Goals, it does not adequately take into account the latest science that shows we have crossed many safe and just Earth system boundaries. There’s also a challenge here: if we were to meet everyone’s minimum needs as required by the social Sustainable Development Goals, we will cross boundaries further.

    A human rights approach

    The pact and its annexes make reference to justice, future generations and Africa. Justice is anchored in a human rights approach. The pact only mentions reducing harm in relation to digital platforms and explosive weapons, but this could be strengthened with the addition of the no-harm principle — not causing significant harm to human and non-human others — in other areas such as climate change. Other forms of justice are scarcely accounted for.

    These include epistemic justice (or how different knowledge systems are included), and data justice (the right to create, control, access, apply and profit from data). Procedural justice — the right to information, decision-making, civic space and courts relating to the allocation of resources and responsibilities — is also vital.

    Other important forms of justice include recognition justice, interspecies, and intragenerational justice. Earth system justice is needed to identify and live within Earth system boundaries and equitably share resources and risks.

    The pact notes that “if we do not change course, we risk tipping into a future of persistent crisis and breakdown,” but it does not make reference to the latest science on planetary boundaries.

    Climate justice

    We argue that implementing the pact requires recognizing how boundaries, foundations and inequality are inextricably are linked together. The Earth Commission argues that safe planetary boundaries are not necessarily just. To minimize significant harm to others, it may be necessary to have more stringent targets.

    For example, 1.5 C is the proposed safe climate boundary for climate change, while 1 C is the proposed just boundary since, at this level, already tens of millions of people are exposed to extreme heat and humidity. Eight safe and just boundaries for climate, water, nutrients, biosphere and aerosols have been identified, seven of which have been crossed.




    Read more:
    What are ‘planetary boundaries’ and why should we care?


    In terms of foundations, theoretically, meeting people’s minimum needs would lead to further crossing these boundaries. We need to recognize that living within safe and just boundaries requires meeting everyone’s minimum needs.

    This requires deploying efficient technologies and redistributing resources to make up the deficit. But governments are reluctant to take this approach, probably because it limits the use of resources and sinks.

    Technological support

    Living within climate boundaries will require a just transition. Globally, if we wish to remain below the safe climate boundary, we will have to completely stop using fossil fuels. Since most remaining fossil fuel reserves are in the developing world, this will put a heavy burden on them. At the same time, climate impacts are considerable, so finance for a just energy transformation is needed.

    While the pact restates the importance of the 2030 agenda in bolstering sustainable development, it lacks a credible mechanism for monitoring whether the national pledges are implemented. This will require strong collaboration among policy, science and the private sector.

    There is a wealth of information in Earth observations from space that can assist in monitoring progress. This information, if made available to researchers and policymakers, can be integrated into national, regional and global environmental risk assessments.

    Digital twins are another technological development that can support these assessments. The European Commission’s Digital Twin of the Ocean, for example, is a virtual model. It integrates diverse ocean data sources and leverages the power of big data, advanced computing and AI to provide real-time insights and scenario simulations under a variety of conditions. Such systems can enhance our ability to cope with environmental challenges.

    As AI is likely to dramatically develop in the few two years, it is critical to be ready to shape and use its potential in a positive way to implement the Pact while reducing its dependence on fossil fuels.

    A ‘cash flow crisis’

    Finally, the pact calls for urgent, predictable and stable funding for the UN and developing countries. This will enable UN bodies to deliver services and administer programs in accordance with international law. The UN Secretariat is facing a severe “cash flow crisis,” as major contributors are paying too late or too little.

    The UN Honour Roll lists member states that have paid membership fees in full: 151 of 193 countries paid in full, but only 51 of them on time in 2024. Among 13 countries with assessed fees of more than US$50 million, only Canada, the United Kingdom, the Republic of Korea, Germany and Italy paid on time.

    With most members paying late, and large ones not paying till later or only partially, this severely constrains the ability of the UN to provide planned, impartial and inclusive services to the global community.

    There is also a need for funding to enable developing countries to adapt and transform. But if such funding comes through loans, this may further exacerbate existing developing country debt: in 2023, developing countries made debt repayments of US$1.4 trillion.

    We need redistribution of resources. Until then, it is critical that new technologies such as AI are deployed to help us return within the boundaries and meet minimum needs without exacerbating climate change through its fossil fuels dependence. The UN plays a critical role in facilitating human, environmental and earthy system justice, but shrinking resources hamper its ability to deliver.

    Joyeeta Gupta receives funding from European Research Council and the Dutch Research Council (NWO).

    ref. AI and other future technologies will be necessary — but not sufficient — for enacting the UN’s Pact for the Future – https://theconversation.com/ai-and-other-future-technologies-will-be-necessary-but-not-sufficient-for-enacting-the-uns-pact-for-the-future-247511

    MIL OSI

  • MIL-OSI Canada: Government of Canada to make an announcement to support access to health services for Francophone minority communities

    Source: Government of Canada News

    Media advisory

    July 21, 2025, Moncton, New Brunswick

    The Honourable Marjorie Michel, Minister of Health, accompanied by the Honourable Ginette Petitpas Taylor, Member of Parliament for Moncton—Dieppe, will make an important announcement to support access to health services in French for Francophone communities.

    There will be a media availability immediately following the announcement.

    Date

    July 22, 2025

    Time

    10:00 a.m. (ADT)

    Location

    The event will be held in-person at:

    Université de Moncton
    Moncton Campus
    Léopold-Taillon Pavilion, room 136
    18 Antonine-Maillet avenue
    Moncton, New Brunswick
    E1A -3E9

    Media may also join by Zoom:

    https://hc-sc-gc-ca.zoom.us/j/66028582579
    Passcode: 009354

    Please indicate your name (first and last) and media outlet when joining the event.

    X: @GovCanHealth
    Facebook: Healthy Canadians

    Media Inquiries

    Emilie Gauduchon
    Senior Communications and Issues Advisor
    Office of the Honourable Marjorie Michel
    Minister of Health
    emilie.gauduchon@hc-sc.gc.ca

    Media Relations
    Health Canada
    613-957-2983
    media@hc-sc.gc.ca

    MIL OSI Canada News

  • MIL-OSI Canada: Province Finalizes RCMP Lease in North Battleford, Issues RFP for Building Renovations

    Source: Government of Canada regional news

    Released on July 21, 2025

    The Government of Saskatchewan has finalized a lease agreement with the Royal Canadian Mounted Police (RCMP) for space in the former Saskatchewan Liquor and Gaming Authority (SLGA) Retail Inc. store in North Battleford and has issued a Request for Proposals (RFP) to begin planning major tenant improvements.

    “The lease and upcoming renovations show our supports for long-term investment in public safety infrastructure, while making efficient use of existing government-owned property.” SaskBuilds and Procurement Minister David Marit said, “This is infrastructure that will directly strengthen front-line policing in Saskatchewan.”

    To prepare the space for RCMP’s use, the Ministry of SaskBuilds and Procurement is seeking consultant services to lead the design, documentation and contract administration required for the renovation.

    “This lease agreement is great news for our community.” Health Minister and MLA for North Battleford Jeremy Cockrill said. “By bringing the RCMP into this space and investing in needed renovations, we are supporting community safety creating, local jobs and making good use of existing infrastructure.”

    The former SLGA site, located at 1001 – 101 Street, will be repurposed to enable the RCMP expand its Battlefords detachment. Renovation work will include schematic and detailed design, construction drawings, specifications, tender documents and project oversight during construction.

    The RCMP lease was ratified on July 2, 2025. This project represents a strategic reuse of existing government-owned infrastructure and supports the province’s commitment to community safety.

    SLGA owned 19 of its 34 store properties. The North Battleford location was one of four buildings which were identified to be repurposed for other government organizations. Buildings currently for sale are listed on slga.com.

    “The City of North Battleford is very encouraged that this lease has been signed, allowing this prominent downtown building to be put back into productive use. We are extremely pleased that the RCMP will be expanding its presence in the Battlefords region with the development of a regional RCMP training hub.” North Battleford Mayor Kelli Hawtin said. “This project will bring significant economic benefits to our city and the surrounding areas through the addition of permanent RCMP staff and a steady flow of officers travelling to North Battleford to attend training. We want to thank the provincial government for partnering with the RCMP, and we are eager to see this vision become reality.”

    Renovations are expected to take between 18 and 24 months. The RCMP will begin operations in the building once the upgrades are complete.

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  • MIL-OSI Canada: Governments of Canada and Saskatchewan Announce Changes to 2025 AgriStability Program

    Source: Government of Canada regional news

    Released on July 21, 2025

    Following a virtual meeting of Federal, Provincial and Territorial (FPT) Ministers of Agriculture, Federal Minister of Agriculture and Agri-Food Heath MacDonald and Saskatchewan Minister of Agriculture Daryl Harrison announced Saskatchewan producers will see changes to AgriStability for the 2025 program year. 

    “Now is the time for unity, and we are working together to deliver for producers right across the country to make sure our programs work for them,” MacDonald said. “That is why, at our meeting last week, we agreed to make changes to AgriStability so that producers facing trade uncertainty and dry conditions have more protection.”

    “Supporting producers with immediate changes to AgriStability increases the effectiveness of the program,” Harrison said. “Reliable and effective business risk management programs help protect against large declines in producers’ margins and are an important tool for a strong agricultural sector in Saskatchewan.”

    For the 2025 AgriStability program year, the Saskatchewan Crop Insurance Corporation (SCIC) is immediately implementing program changes to respond to ongoing international trade concerns and strengthen the program’s support for Saskatchewan producers.

    For the 2025 program year only, AgriStability participants will see an increase in the compensation rate from 80 per cent to 90 per cent, meaning producers who access a benefit will now receive 90 cents on every dollar of eligible margin decline, generating larger payments. The margin protection AgriStability can provide is unique to each farm, making it important for producers to understand their historical reference margin. 

    In addition, for the 2025 program year only, the maximum payment cap is doubling, from $3 million to $6 million per operation. This change can provide additional protection for eligible operations. 

    Starting in the 2026 program year, AgriStability will see adjustments to the feed inventory pricing for livestock producers. This permanent change ensures the program appropriately captures the feed inventory valuation method for inventories destined to be used on farm and not sold. This change ensures program calculations properly reflect farm realities, especially in years of dry conditions. 

    In addition, AgriStability allowable expenses are under consideration for the 2026 program year. This includes considering feed expenses from grazing on rented pasture as an eligible expense, which means if a producer rents pasture, AgriStability would capture the value of the feed consumed by livestock and include it as an allowable expense. 

    “The Saskatchewan Association of Rural Municipalities (SARM) has been strongly advocating on behalf of agricultural producers and ranchers, and we are pleased to hear there will be changes made to the AgriStability Program for 2025,” SARM President Bill Huber said. “Offering producers further coverage, including permanent adjustments to feed inventory pricing for 2026, are all welcome additions to the program. Saskatchewan producers are currently facing rising costs, harsh weather conditions causing drought and feed uncertainty. These changes are a good first step in providing support for farming operations at a time when they need it most.”

    “The Saskatchewan Cattle Association (SCA) has long advocated for changes to the eligible feed expenses and changes to the feed inventory pricing for AgriStability,” SCA Chair Chad Ross said. “We applaud the changes announced today, including moving forward with the permanent change to the feed inventory pricing for the 2026 program year. This should make the program more responsive for livestock producers. We will continue to advocate for the allowable feed expenses to become permanent as well.” 

    “The Saskatchewan Stock Growers Association (SSGA) would like to thank Minister Harrison for his consultations and continued work for the livestock sector,” SSGA President Jeff Yorga said. Including feed inventory cost and rental costs is a positive first step towards making AgriStability relevant to producers. As we deal with the effects of a decade long drought, BRM improvements are key to industry sustainability. We look forward to working for producers and advocating for further change.”

    “Farmers, particularly livestock producers, will be pleased with these improvements in risk management,” Agricultural Producers Association of Saskatchewan (APAS) President Bill Prybylski said. “The permanent changes in feed accounting and cost adjustments mean the unique hurdles they face are finally being acknowledged. APAS is thrilled to witness these positive developments and advises all farmers to consider what AgriStability has to offer for protecting their businesses.” 

    The AgriStability Program continues to respond. From 2018 to 2023, AgriStability has paid over $645 million in benefits. Payments are trending higher for the 2024 program year, compared to the past 15 years.

    SCIC reminds Saskatchewan producers that the deadline to enrol in AgriStability for the 2025 program year is extended to July 31, 2025. With a deadline extension to the end of July, producers are well positioned to evaluate the real-time impacts to their operation. They can make the best-informed decision to enrol in AgriStability.

    AgriStability protects Canadian producers against large declines in farming income for reasons such as production loss, increased costs and market conditions. It is one of the Business Risk Management programs under the Sustainable Canadian Agricultural Partnership (Sustainable CAP).

    For more information, producers can call 1-866-270-8450 or visit scic.ca. 

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    For more information, contact:

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