Category: Canada

  • MIL-OSI: Flow Capital Announces 2024 Annual Financial Results

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, May 01, 2025 (GLOBE NEWSWIRE) — Flow Capital Corp. (TSXV:FW), a leading provider of flexible growth capital and alternative debt solutions, announces its unaudited financial and operating results for the for the three-months (Q4 2024) and year ended December 31, 2024.

    Q4 2024 Performance Highlights

    • 44% increase in Loan Interest Revenue to $2.7 million.
    • 61% increase in Recurring Free Cash Flow to $545,591
    • $0.018 in Recurring Free Cash Flow per share

    Full Year 2024 Performance Highlights

    • 31% increase in Loan Interest Revenue to $9.3 million.
    • 88% increase in Recurring Free Cash Flow to $1.9 million.
    • $0.061 in Recurring Free Cash Flow per share
    • 13% increase in Total Assets to $72.0 million.
    • A record $28.5 million in new capital deployment during the year.
    • Book Value per share up from $1.19 to $1.20.

    “This was another strong quarter, capping off a record year for Flow Capital. Q4 2024 represented the 6th consecutive quarter of sequential quarter-to-quarter Loan Interest Revenue growth. More importantly, we are growing our revenue while consistently generating positive free cash flow. 2024 represents the 5th straight year where we have generated positive recurring cash flow, generating a record $1.9 million during the year. We feel that our results are indicative of the growth and profitability our business model can support,” said Alex Baluta, CEO of Flow Capital.

    Detailed Financial Results are available on our website at www.flowcap.com/investor-relations/2024 or on www.sedar.com.

    Results of Operations

    (1)Recurring Free Cash Flow is an internally defined, non-IFRS measure calculated as loan interest revenue less loan amortization income, one-time payments, salaries, professional fees, office and general administrative expenses, and financing expenses. See the section “Use of Non-IFRS Financial Measures”.

    (2)Calculated by taking Total Shareholders’ Equity as reported on the Statements of Financial Position over the number of outstanding shares at period end. See the section “Use of Non-IFRS Financial Measures”.

    Conference Call Details

    Flow Capital will host a conference call to discuss these results at 9:00 a.m. Eastern Time, on Wednesday, May 2, 2025. Participants should call +1 800-717-1738 or +1 289-514-5100 and ask an operator for the Flow Capital Earnings Call, Conference ID 90558. Please dial in 10 minutes prior to the call to secure a line. A replay will be available shortly after the call. To access the replay, please dial +1 888-660-6264 or +1 289-819-1325 and enter passcode 90558#. The replay recording will be available until 11:59 p.m. ET, May 14, 2025.

    An audio recording of the conference call will be also available on the investors’ page of Flow Capital’s website at www.flowcap.com/investor-relations/2024

    About Flow Capital

    Flow Capital Corp. is a publicly listed provider of flexible growth capital and alternative debt solutions dedicated to supporting high-growth companies. Since its inception in 2018, the company has provided financing to businesses in the US, the UK, and Canada, helping them achieve accelerated growth without the dilutive impact of equity financing or the complexities of traditional bank loans. Flow Capital focuses on revenue-generating, VC-backed, and founder-owned companies seeking $2 to $10 million in capital to drive their continued expansion.

    Learn more at www.flowcap.com

    For further information, please contact:

    Flow Capital Corp.

    Alex Baluta
    ‎Chief Executive Officer
    alex@flowcap.com 
    47 Colborne St, Suite 303, 
    Toronto, Ontario M5E 1P8

    Non-IFRS Financial Measures

    This press release includes references to the non-IFRS financial measure “Recurring Free Cash Flow.” This financial measure is employed by the Company to measure its operating and economic performance, to assist in business decision-making, and to provide key performance information to senior management. The Company believes that, in addition to conventional measures prepared in accordance with IFRS, certain investors and analysts use this information to evaluate the company’s operating and financial performance. This financial measure is not defined under IFRS, nor does it replace or supersede any standardized measure under IFRS. Other companies in our industry may calculate this measure differently than we do, limiting its usefulness as a comparative measure. Reconciliations of non-IFRS measures to the nearest IFRS measure can be found in this press release under “Reconciliation of Non-IFRS Measures.”

    Reconciliation of Non-IFRS Measures

    The table below reconciles Recurring Free Cash Flow for the periods indicated.

    Recurring Free Cash Flow is an internally defined, non-IFRS measure calculated as loan interest and royalty income less loan amortization income, one-time payments, salaries, professional fees, office and general administrative expenses, and financing expenses.

     Forward-Looking Information and Statements

    Certain statements herein may be “forward-looking” statements that involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Flow or the industry to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether such results will be achieved. A number of factors could cause actual results to vary significantly from the results discussed in the forward-looking statements. These forward-looking statements reflect current assumptions and expectations regarding future events and operating performance and are made as of the date hereof and Flow assumes no obligation, except as required by law, to update any forward-looking statements to reflect new events or circumstances.

    The MIL Network

  • MIL-OSI USA: 100 Days of Fighting Fake News

    Source: US Federal Emergency Management Agency

    Headline: 100 Days of Fighting Fake News

    lass=”text-align-center”> From Stories on Criminals to Statistics, DHS has been Holding the Media Accountable for Spreading Disinformation to the American people 
    WASHINGTON— During President Trump’s 100 days in office, the Department of Homeland Security published a non exhaustive list of facts, to help set the record straight on numerous false and misleading stories that have spread around news coverage and social media

    The list can be found below:
    The Facts on Noteworthy Individuals Deported or Prevented from Entering the U

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    The Deportation Of American Citizens

    The media has FALSELY claimed that ICE is deporting US citizen children of illegal aliens

    This is false

    In both cases the mother made the determination to take her children with her back to Honduras

    DHS takes our responsibility to protect children seriously and will continue to work with federal law enforcement to ensure that children are safe and protected

    The Trump Administration is giving parents in this country illegally the opportunity to self-deport and take control of their departure process with the potential ability to return the legal, right way and come back to live the American dream

    The CBP Home app is a free and easy way to self deport

    Kilmar Abrego Garcia – The “Maryland Man”

    Garcia is NOT an American citizen

    He is a citizen of El Salvador who had been living in the country illegally

    In 2019, two courts – an immigration court and an appellate immigration court – ruled that he was not only a member of MS-13, but that he was in our country illegally

    There was a deportation order for him dating back to 2019

    Further details about Garcia’s history prove that he is far from innocent

    In 2020, his wife filed a petition for protection citing three separate instances of violence
    In 2021, his wife filed for a restraining order against him due to domestic violence

    In 2022, Garcia was pulled over by Tennessee Highway Patrol with 8 people crammed into one car

    Despite telling the officers that they were going on a trip from Houston, Texas to Temple Hills, Maryland, there was no sign of luggage in the car

    It was later revealed that the vehicle Garcia was driving during this stop was registered to another illegal alien who had been convicted of human trafficking, Jose Roman Hernandez Reyes

    The media further claimed that the Supreme Court ordered the Trump Administration to return Garcia to the United States

    This is another falsehood

    The Supreme Court unanimously overturned that judge’s ruling but instead said that the United States should “facilitate” Garcia’s return

    This would only be possible if the government of El Salvador decided to return him, in which case the United States would have to provide transportation

    It’s up to Salvadoran President Nayib Bukele and the government of El Salvador if they want to return him

    But as President Bukele said during his Oval Office visit with President Trump, he has no intention of releasing a terrorist and sending him back to the United States

    When President Trump declared MS-13 a foreign terrorist organization, Abrego Garcia became no longer eligible for any form of immigration relief in the United States

    He had a valid deportation order

    Furthermore, the Supreme Court also held that EVEN IF El Salvador returned this MS-13 member to the United States, we could deport him a second time

    NO version of this legally ends with him ever living in the U

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    , because he is a citizen of El Salvador

    The foreign policy of the United States is conducted by the President – not by a court – and no court in the United States has the power to conduct the foreign policy of the United States

    Dr

    Rasha Alawieh – “The Brown University Assistant Professor”

    Dr

    Rasha Alawieh was an assistant professor at Brown University

    She was in the United States with an H-1B visa

    She was deported back to her home country of Lebanon after she admitted to attending the funeral of Hassan Nasrallah, a brutal terrorist who led Hezbollah and was responsible for killing hundreds of Americans

    The media tried to portray Alawieh’s case as an example of a “lawful immigrant” being deported

    But they completely ignored her direct and alarming ties to radical Islamic terrorism, including her veneration of a dead terrorist leader

    Alfredo “Alex” Orellana – “The Caregiver”

    Alfredo “Alex” Orellana has multiple charges on his record from 2012 to 2019, including: distributing drugs, drug possession, assault and battery, failure to appear to court (twice), theft at the second degree, and larceny

    He has since been arrested and faces deportation

    The New York Times wrote a lengthy article on Orellana’s case

    Their article painted a picture of a loving 31-year-old caregiver who was the “best friend” of a 28-year-old autistic man

    They also pointed to the fact that Orellana had a green card

    The press tried to paint him as a victim who was a caretaker, despite violent charges on his record

    Jerce Reyes Barrios – “The Venezuelan Soccer Player”

    Jerce Reyes Barrios was in the United States illegally

    He was a member of the vicious Tren de Aragua gang, and he was deported to El Salvador

    He has tattoos that are consistent with those indicating membership in the vicious Tren de Aragua gang

    His own social media indicates that he is a Tren de Aragua member

    That hasn’t stopped the media, however

    They tried to whip up a frenzy over this deported criminal gang member, publishing wild claims that he was deported because of a tattoo of a soccer team on his arm

    The facts are the facts

    Our intelligence assessments go beyond just social media and tattoos

    We are confident in our findings

    Nascimento Blair – “The Ex-Con”

    Blair was an illegal alien living in the United States who was tried and convicted for kidnapping and sentenced to 15 years in prison

    The New York Times published a fawning profile about this criminal illegal alien

    In 2008, he was ordered removed out of the country

    However, because of the Biden administration’s open border policies, this criminal illegal alien was released onto the streets of New York

    The Trump administration is putting the American people first by getting this criminal illegal alien off the streets and out of our country

    “The French Scientist Denied Entry Over His Political Views”

    In March, a French scientist was denied entry into the United States

    The researcher in question was in possession of confidential information on his electronic device from Los Alamos National Laboratory

    This was in clear violation of a non-disclosure agreement – something he admitted to taking without permission and attempted to conceal to authorities

    The mainstream media ran with the baseless narrative that this individual was blocked from entering the U

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    because of social media posts that were critical of President Trump

    This lie was even echoed by France’s Minister for Higher Education, Philippe Baptiste

    His political beliefs were not considered at all in his removal

    Marie Lepère and Charlotte Pohl – “German Tourists Turned Away on Vacation”

    Two German tourists were denied entry after attempting to enter the U

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    under false pretenses

    Both claimed they were touring California but later admitted that they intended to work

    One used a Visitor visa, while the other used the Visa Waiver Program

    Under U

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    immigration laws, work is prohibited for these visas

    The media version of events depicted two young women who tried to go on a five-week backpacking trip through the United States

    The media claimed that the two – aged 18 and 19 – were “deported” because they simply wanted to go on a fun, loosely-planned trip

    These travelers weren’t deported—they were denied entry

    And the reason for their removal was visa fraud, not because of the planning nature of their so-called “vacation

    Jose Hermosillo – “The American Citizen Detained by Border Patrol”

    Hermosillo turned himself in to immigration authorities on April 8

    He approached Border Patrol in Tucson, Arizona and declared that he had entered the U

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    illegally

    He completed a sworn statement identifying as a Mexican citizen who had entered unlawfully

    He was processed and appeared in court on April 11

    Afterwards, he was held by the U

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    Marshals in Florence, Arizona

    A few days later, his family presented documents showing U

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    citizenship

    The charges were dismissed, and he was released to his family

    The media, instead of reporting the facts, created a false and baseless story that an American citizen was illegally detained

    Hermosillio’s arrest was the direct action of his own actions and statements

    When his citizenship was confirmed, he was promptly released back to his family

    Kseniia Petrova – “The Russian Scientist Trying to Cure Cancer”

    Kseniia Petrova, a Russian researcher working for Harvard University, was lawfully detained after lying to federal officers about carrying substances into the country

    A subsequent K9 inspection uncovered undeclared petri dishes, containers of unknown substances, and loose vials of embryonic frog cells, all without proper permits

    Messages found on her phone revealed she planned to smuggle the materials through customs without declaring them

    She knowingly broke the law and took deliberate steps to evade it

    But upon her detainment, the media rushed to defend her by claiming that her research could help to cure cancer

    The facts of the matter are simple: Petrova broke the law and actively planned to do so

    Her research does not make her exempt from the laws of our country

    Renato Subotic – “The MMA Coach”

    Subotic is an MMA coach who entered the United States under a visa waiver program that prohibits compensation – only travel reimbursements are allowed

    When Subotic was detained under American law, the media claimed that he was thrown in prison and deported for no real reason

    Here are the facts: Subotic couldn’t meet the requirement to prove he wasn’t being compensated for participating at a high-dollar, multi-day event

    The law is clear: the burden of proof is on the traveler

    Since he couldn’t provide detailed answers or the necessary documentation for compensation related to the work event, he was held until the next available flight out the following day

    Ricardo Jesus Prada Vasquez – The “Disappearing” Delivery Driver

    Yet again, the media has manufactured a fake controversy on behalf of a terrorist gang member and criminal illegal alien

    Ricardo Jesus Prada Vasquez is a Venezuelan national and confirmed member of Tren De Aragua

    He entered the United States illegally on November 29, 2024 at the Brownsville, Texas Port of Entry via the CBP One App

    The Biden administration, like it did with so many other dangerous criminals, released Prada Vasquez back into the United States

    On January 15th, Prada was encountered trying to enter the U

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    from Canada

    He was detained, investigated, and confirmed as a member of TDA and a public safety threat

    On February 27, a judge ordered him removed from the U

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    He was then removed to El Salvador

    The media, however, has falsely claimed that Prada Vasquez was an innocent delivery driver who was “disappeared” by the government

    Prada Vasquez was living and working in the U

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    illegally, he was a member of a criminal gang designated as a terrorist organization, and was deported with full compliance with American law

    Jeanette Vizguerra – “The Activist Who Needed Sanctuary”

    Jeanette Vizguerra is a convicted criminal alien from Mexico who has a final order of deportation issued by a federal immigration judge

    She illegally entered the United States near El Paso, Texas, on Dec

    24, 1997, and has received legal due process in U

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    immigration court

    The media, however, has tried to turn her into a martyr

    They claim she was an “activist” who needed “sanctuary

    ” In reality, she getting famous and making money for breaking the law

    Under President Trump, this is a nation of laws

    We will find, arrest, and deport illegal aliens, no matter how famous the media thinks they are

    Vizguerra was in the United States illegally

    She was convicted of breaking the law

    She was deported

    If you come to our country illegally, we will deport you, and you will never return

    The safest option for illegal aliens is to self-deport, so they still have the opportunity to return and live the American dream

    The Facts on Those Who Have Abused The Privilege of a Student Visa 

    Yunseo Chung – “The Columbia Student”

    Yunseo Chung, who was born in South Korea, is a Columbia University student who engaged in concerning conduct on-campus

    This includes her being arrested by NYPD during a pro-Hamas protest at Barnard College

    Mahmoud Khalil – “The Activist Leader at Columbia”

    Mahmoud Khalil, a former Columbia University graduate student from Syria, is one of the ringleaders of the vicious, anti-American, anti-Semitic protests at Columbia University

    His activities are aligned with Hamas, a designated terrorist organization

    On March 9, 2025, in support of President Trump’s executive orders prohibiting anti-Semitism, and in coordination with the Department of State, U

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    Immigration and Customs Enforcement arrested Khalil

    But upon his arrest, radical student protesters at Columbia and across the country have attempted to turn him into a martyr, waving signs and banners bearing his likeness

    Taking over private buildings, inciting violence, harassing Jewish students, defacing buildings, and passing out terrorist propaganda do not constitute free speech

    A judge ruled that Khalil’s deportation can move forward

    He will be removed from our country

    Mohsen Mahdawi – “The Palestinian at Columbia University”

    Mahdawi is a Palestinian who has been living in the United States on a visa while he was studying at Columbia University

    Like many other anti-Israel student protesters, supporters in the media tried to claim that Mahdawi was a victim of political persecution

    But his rhetoric on the war in Israel proves his terrorist sympathies

    In the wake of October 7, Mahdawi said he could empathize with Hamas’s attack on Israel

    He appeared on “60 Minutes” justifying the massacre

    He organized and led pro-Hamas protests on Columbia University’s campus, harassed Jewish students, and openly displayed his support for a terrorist organization

    Leqaa Kordia – “The Palestinian at Columbia University”

    Leqaa Kordia was another Columbia Student who actively participated in anti-American, pro-terrorist activities on campus

    However, her arrest had nothing to do with her radical activities

    Kordia was arrested for immigration violations due to having overstayed her F-1 student visa, which had been terminated on January 26, 2022 for lack of attendance

    Dogukan Gunaydin – “The University of Minnesota Student”

    Dogukan Gunaydin, a graduate student at the University of Minnesota,was arrested after a visa revocation by the State Dept

    related to a prior criminal history for a DUI

    Contrary to the mainstream media’s quick speculation that he was arrested due to his involvement in student protests, his protest activity had nothing to do with his detainment

    Badar Khan Suri – “The Georgetown Foreign Exchange Student”

    Suri was a foreign exchange student at Georgetown University actively spreading Hamas propaganda and promoting antisemitism on social media

    The media calls him a “scholar” who was innocent of any wrongdoing, even though he was married to the daughter of a senior advisor for to Hamas terrorist group

    Momodou Taal – “The Cornell University Student”

    Taal was unapologetic in his pro-terrorist views

    Taal, a foreign student studying at Cornell University, participated in pro-Hamas protests on campus

    He has a pinned post on his X profile that talks about a so-called “Zionist genocide,” and also states “Long live the student intifada!”

    Other Fake News Narratives Corrected 

    The Biden Administration’s inflated deportation numbers

    DHS uncovered what should be a massive scandal: the Biden administration was cooking the books on ICE arrest data

    They were purposefully misleading the American public by categorizing individuals processed and released into the interior of the United States as ICE arrests

    Of course, the media ignored this fact

    Instead, they falsely claimed that the Biden administration had carried out more arrests than the Trump administration

    Tens of thousands of cases recorded as “arrests” were, in fact, instances where illegal aliens were simply processed and released into American communities

    Many of these were violent criminals and gang members

    The previous administration counted these as arrests even though no immigration enforcement action was taken

    During fiscal year 2024, ICE made 113,431 arrests but the vast majority of those were what we call “pass-through” arrests

    They are called pass-through arrests because ICE didn’t take enforcement actions against these aliens

    They just passed through ICE before they were released in the U

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    interior and told to report to an ICE office

    None of the arrests made by ICE since January 20th are pass-through arrests

    The difference between recent arrests and those from Biden’s last year is that, now we’re taking enforcement actions against each and every illegal alien arrested

    ICE Boston Militia rumors:

    The media eagerly fed and spread a false social media rumor that an ICE agent who conducted arrests of criminal illegal aliens in New England was a “militia leader” from Arizona

    The reality? He is a federal law enforcement office who has worked with ICE to help keep New England communities safe for years

    This claim was not only false, but also inflammatory and places the safety of federal officers in jeopardy

    Our ICE officers are facing 300% increase in assaults while carrying out enforcement operations

    Due process and treatment rumors in CECOT:

    These aliens HAVE had due process – we have a stringent law enforcement assessment in place that abides by due process under the U

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    Constitution

    The reality is that prison isn’t supposed to be fun

    It’s a necessary measure to protect society and punish bad guys

    It is not meant to be comfortable

    What’s more: prison can be avoided by self-deportation

    CBP Home makes it simple and easy

    If you are a criminal alien and we have to deport you, you could end up in Guantanamo Bay or CECOT

    Leave now

    DOGE and ICE allegedly collecting sensitive data from the Centers for Medicare and Medicaid Services

    The Biden administration flooded the U

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    with tens of millions of illegal immigrants, many of which are exploiting the American taxpayer by illegally getting Medicare and other benefits meant for law-abiding Americans

    President Trump consistently promised to protect Medicare for eligible beneficiaries

    To keep that promise, DOGE, CMS, and DHS are exploring an initiative to ensure that illegal aliens are not receiving these benefits not meant for them

    The media claimed that ICE is working with the Department of Government Efficiency (DOGE) to access sensitive personal information in order to identify illegal aliens

    These claims are meant to frighten the American people, when in reality this process is working to keep them and their benefits safe from exploitation by illegal aliens

    ICE HSI presence at schools

    ICE’s Homeland Security Investigations (HSI) works relentlessly to protect Americans, especially children, who are put in danger by illegal alien activity

    This includes investigations into potential child sex trafficking

    But the media has tried to spin their investigative work into the idea that they are going to elementary schools to arrest children

    HD Cooke Elementary School, Washington D

    C

    At the HD Cooke Elementary School in Washington D

    C

    , ICE did not conduct any enforcement action at the school

    HSI agents were present at the school unrelated to any kind of enforcement action

    Russel Elementary and Lillian Elementary in Los Angeles:

    At two different elementary schools in Los Angeles, California, HSI officers were conducting wellness checks on children who arrived unaccompanied at the border

    It had nothing to do with immigration enforcement

    DHS is leading efforts to conduct welfare checks on these children to ensure that they are safe and not being exploited, abused, and sex trafficked

    Unlike the previous administration, President Trump and Secretary Noem take the responsibility to protect children seriously and will continue to work with federal law enforcement to reunite children with their families

    In less than 70 days, Secretary Noem and Secretary Kennedy have already reunited nearly 5,000 unaccompanied children with a relative or safe guardian

    Immigrant children detained at Old McDonald Farm in New York

    In early April, a raid was carried out on a dairy farm in New York after the execution of a federal criminal warrant for an illegal alien in possession of + distributing child sexual abuse materials

    Upon the execution of the search warrant at Old McDonalds Farm in Sackets Harbor, New York, authorities encountered seven additional illegal aliens on the premises, including a mother and her three children

    We immediately began conducting an investigation to ensure these children are not being sexually exploited

    But rather than address the very real evidence of child sexual abuse, the media chose to focus on the fact that a woman and her three children were taken into custody

    DHS takes its responsibility to protect children seriously and our ICE officers are working every day to remove pedophiles from American communities

    TDA members being identified via tattoos

    Some have claimed that DHS’ assessments of TDA and other gang memberships are based solely on the tattoos that certain illegal aliens have

    DHS intelligence assessments go well beyond just gang affiliate tattoos and social media

    Tren De Aragua is one of the most violent and ruthless terrorist gangs on planet earth

    They rape, maim, and murder for sport

    President Trump and Secretary Noem will not allow criminal gangs to terrorize American citizens

    We are confident in our law enforcement’s intelligence, and we aren’t going to share intelligence reports and undermine national security every time a gang member denies he is one

    That would be insane

    MIL OSI USA News

  • MIL-OSI USA: 100 Days of Making America Safe Again

    Source: US Federal Emergency Management Agency

    Headline: 100 Days of Making America Safe Again

    WASHINGTON – In just 100 days, President Trump and Secretary Noem have delivered major victories addressing the crisis at the southern border, removing violent criminal illegal aliens from American communities, and stopping the flow of illicit drugs into our homeland

    He’s accomplished more in 100 days than most presidents achieve in an entire term

    PROMISES MADE, PROMISES KEPT:   

    Thanks to President Trump, we have the most secure border in American history

    On day one, President Trump declared a national emergency at the southern border

    President Trump immediately reinstated “Remain in Mexico” and ended catch and release

    Daily border encounters have plunged 95% since President Trump took office

    Under President Trump’s leadership, Secretary Noem and Secretary Kennedy have reunited nearly 5,000 unaccompanied children with a safe relative or guardian

    Migrants are turning BACK before they even reach our border— migration through Panama’s Darien Gap is down 99

    99%

    President Trump is finishing the border wall

    The Department of Homeland Security (DHS) already has 85 miles of new construction either planned or under construction

    United States (U

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    ) Customs and Border Protection (CBP) and the U

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    Coast Guard (USCG) have seized nearly 232,000 pounds of fentanyl and other illicit drugs—stopping them from ever reaching American communities

    President Trump is fulfilling his promise to carry out mass deportations—starting with the worst of the worst

    The Trump Administration empowered our brave men and women in law enforcement to use common sense to do their jobs effectively

    DHS repealed Biden-era rules that allowed criminal aliens to hide from law enforcement in places like schools and churches to avoid arrest

      
    DHS returned to using the term “illegal alien” which is the statutory language

    President Trump will not allow political correctness to hinder law enforcement

    President Trump mobilized the federal government to help with immigration enforcement

    DHS deputized the Texas National Guard, Drug Enforcement Administration (DEA), Bureau of Prisons, U

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    Marshals, the Bureau of Alcohol, Tobacco, Firearms and Explosives, members of the State Department and the Internal Revenue Service (IRS) to assist with immigration operations

    Operation Tidal Wave, the first 287(g) enforcement operation coordinated with state and federal law enforcement partners, resulted in over 800 arrests

    DHS has secured 579 signed agreements with state and local partnerships under 287(g)

    President Trump and Secretary Noem are empowering state and local law enforcement to get these criminal illegal aliens off our streets

    The Trump Administration has arrested over 158,000 illegal aliens in 2025 alone, including more than 600 members of Tren de Aragua

    Under President Trump, U

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    Immigration Customs and Enforcement (ICE) is targeting the worst of the worst, 75% of their arrests are criminal illegal aliens with convictions or pending charges

     
    To fulfill President Trump’s promise to carry out mass deportations, the administration is now detaining some of the most dangerous illegal aliens, including violent criminals and members of terrorist gangs, at Guantanamo Bay

    At President Trump’s direction, DHS deported nearly 300 Tren de Aragua and MS-13 terrorists to the Terrorism Confinement Center (CECOT) Prison in El Salvador, where they no longer pose a threat to the American people

    At President Trump’s direction, Secretary Noem launched a multimillion-dollar nationwide and international ad campaign, urging illegal aliens to leave the U

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    voluntarily or face deportation with no chance of return

    President Trump ended the CBP One app that allowed more than one million aliens to illegally enter the U

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    The Trump Administration replaced this disastrous program with the CBP Home app, which has a new self-deportation reporting feature for aliens illegally in the country

    So far, thousands of illegal aliens have used the app to self-deport

    The Trump Administration is enforcing the Alien Registration Act which requires aliens to register with the federal government

    If illegal aliens fail to comply, they face fines and imprisonment

    Deportations have already exceeded 142,000—this is just the beginning

    President Trump is putting the safety of Americans first and delivering justice for victims of illegal aliens and drug cartels

    President Trump signed the Laken Riley Act, which mandates the federal detention of illegal aliens accused of theft, burglary, assaulting a law enforcement officer, or any crime resulting in death or serious bodily injury

    President Trump designated international drug cartels and other criminal gangs, such as MS-13 and Tren de Aragua, as Foreign Terrorist Organizations

    This enables a whole-of-government approach to dismantle their drug and human trafficking operations

    The days of unchecked cartel and gang violence are over

    The Trump Administration secured the extradition of 29 Mexican drug cartel members who are facing charges including racketeering, drug-trafficking, murder, illegal use of firearms, money laundering, and other crimes

    Some of these individuals include:

    Rafael Caro Quintero, alleged to have been among those responsible for the 1985 murder of DEA agent Enrique “Kiki” Camarena and others

    This cartel kingpin unleashed violence, destruction, and death across the U

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    and Mexico and spent four decades atop DEA’s most wanted fugitives list

    Martin Sotelo, alleged to have participated in the 2022 murder of Deputy Sheriff Ned Byrd

    Antonio Oseguera Cervantes, alleged to have helped lead the Cártel de Jalisco Nueva Generación

    Ramiro Perez Moreno and Lucio Hernandez Lechuga, alleged to be high-ranking members of Los Zetas

    The Trump Administration extradited Eswin Mejia, an illegal alien arrested for killing 21-year-old Sarah Root in a drunk driving crash, from Honduras

    President Trump reopened the Victims of Immigration Crime Engagement (VOICE) office, which was shuttered by the Biden Administration

    President Trump and Secretary Noem are standing up for the victims of illegal alien crime and ensuring they have access to much needed resources and support they deserve

    President Trump is restoring integrity and common sense to our legal immigration system

    President Trump ended the broad abuse of humanitarian parole and returned the program to a case-by-case basis

    As part of this effort, Secretary Noem terminated the Cuba, Haiti, Nicaragua, and Venezuela parole programs

    President Trump restored integrity to our immigration system by returning the Temporary Protect Status (TPS) immigration program to its original status: temporary

    No longer will this program be abused and exploited by illegal aliens

    Secretary Noem rescinded the previous administration’s extension of Venezuelan, Haitian, and Afghan TPS

    President Trump is returning common sense to our legal immigration system and national security by revoking visas of terrorist sympathizers

    Those who glorify and support terrorists who kill Americans are not welcome in the U

    S

    Some examples include:

    ICE arrested Mahmoud Khalil, a former Columbia University graduate student who led activities aligned with Hamas and passed out pro-Hamas propaganda flyers

    Dr

    Rasha Alawieh was deported after she admitted to attending the funeral of Hassan Nasrallah, a brutal terrorist who led Hezbollah and was responsible for killing hundreds of Americans

    ICE arrested Badar Khan Suri, a Georgetown foreign exchange student whose father-in-law is a senior advisor to Hamas

    To keep America safe, DHS is now conducting enhanced vetting of visa applicants, including monitoring foreign aliens’ social media accounts to identify any support for terrorist organizations

    President Trump is using tariffs as a negotiating tool to force other countries to take decisive action that puts American safety, prosperity, and national security first

    President Trump announced reciprocal tariffs on countries that have been ripping off America for years

    Unfair trade practices made our supply chain dependent on foreign adversaries, eroded our industrial base, and hurt American workers

    This has gravely impacted our national security

    Now, President Trump is fighting back and putting America first

    President Trump’s tariffs forced Mexico to deploy 10,000 troops on our southern border to stop the flow of fentanyl and illegal aliens into our country and Canada to add thousands of personnel to the northern border

    Under President Trump, Secretary Noem refocused DHS to its core mission of protecting the American homeland and eliminating government waste

    The USCG eliminated an ineffective information technology (IT) program, saving nearly $33 million, and is now focusing resources where they’re most needed to protect our homeland

    The Trump Administration stopped aliens on the Terror Watchlist from receiving Medicaid benefits

    Secretary Noem ended the Building Resilient Infrastructure and Communities (BRIC) FEMA grant program that was wasteful and ineffective

    This resulted in nearly a billion dollars being directed to the Disaster Relief Fund

    To stop policies that were magnets for illegal immigration, DHS froze all funding to non-governmental organizations that facilitate illegal immigration and announced a partnership with the U

    S

    Department of Housing and Urban Development to ensure taxpayer dollars do not go to housing illegal aliens

    Secretary Noem ended collective bargaining for the Transportation Security Administration’s (TSA) Transportation Security Officers, which constrained TSA’s chief mission to safeguard our transportation systems and keep Americans safe

    Bottom Line: President Trump campaigned on border security and immigration enforcement, the American people voted for it, and Secretary Noem and DHS are delivering beyond anyone’s expectations

    President Trump and Secretary Noem will continue fighting every day to secure our border and keep American communities safe

    This is just the beginning of a new Golden Age of America

    MIL OSI USA News

  • MIL-OSI: Climb Channel Solutions Launches Global Partnership with Accelsius LLC

    Source: GlobeNewswire (MIL-OSI)

    EATONTOWN, N.J., May 01, 2025 (GLOBE NEWSWIRE) — Climb Channel Solutions, an international specialty technology distributor and wholly owned subsidiary of Climb Global Solutions, Inc. (NASDAQ: CLMB), is excited to announce its new partnership with Accelsius.

    Accelsius is a leader in next-generation liquid cooling solutions for high-performance computing environments. This partnership further strengthens Climb’s commitment to delivering innovative emerging technologies to its channel partners, equipping them with cutting-edge tools to meet the growing demands of AI, cloud, and data-intensive workloads.

    “Accelsius delivers the highest-performance, most protective liquid cooling technology available today,” said Josh Claman, CEO of Accelsius. “Our proprietary two-phase, direct-to-chip system not only handles the densest AI learning and inference workloads —it does so with unmatched energy efficiency and hardware protection. By partnering with Climb Channel Solutions, we’re extending that value through a channel-first approach that enables more partners to differentiate, scale, and lead in the data center market of tomorrow.”

    Accelsius employs a 100% channel-driven go-to-market strategy, focused on enabling partners with advanced technology, comprehensive training, and dedicated support. The decision to partner with Climb Channel Solutions reflects this commitment. Known for their expertise in emerging technologies and their ability to cultivate strong, technical channel relationships, Climb is well-positioned to help scale deployment of Accelsius’ NeuCool™ solution. Together, the two companies will empower resellers, integrators, and service providers to deliver two-phase, direct-to-chip liquid cooling to market more rapidly and effectively, addressing the increasing demand for sustainable, high-performance infrastructure.

    “At Climb, we’re committed to expanding our portfolio with cutting-edge technologies that address the evolving needs of today’s data-driven world,” said Dale Foster, CEO of Climb Channel Solutions. “Our partnership with Accelsius strengthens our position in the high-performance infrastructure space and gives our partners access to innovative solutions designed to meet the growing demand for data center technologies.”

    Those interested in distribution services and solutions should contact Climb by phone at +1.800.847.7078 (US), or +1.888.523.7777 (Canada), or by email at Sales@ClimbCS.com.

    About Climb Channel Solutions and Climb Global Solutions

    Climb Channel Solutions is a global specialty technology distributor focusing on Security, Data Management, Connectivity, Storage & HCI, Virtualization & Cloud, and Software & Application Lifecycle. What sets Climb apart is our commitment to transform distribution by providing emerging and established IT technologies, flexible financing, real-time quoting, best of breed channel operations, speed to market, and exceptional service to our partners worldwide. Climb Channel Solutions is a wholly owned subsidiary of Climb Global Solutions (NASDAQ: CLMB). Experience the Climb difference and learn how our people-first approach empowers VARs and MSPs to grow, scale, and accelerate their business. Visit www.ClimbCS.com, call 1-800-847-7078, and connect with us on LinkedIn!

    For Media & PR inquiries contact:
    Climb Channel Solutions
    Media Relations
    media@ClimbCS.com

    Investor Relations Contact:
    Elevate IR
    Sean Mansouri, CFA
    T: 720-330-2829
    CLMB@elevate-ir.com

    About Accelsius

    Founded by Innventure, Inc. (NASDAQ:INV), Accelsius empowers data center and edge operators to achieve their business, financial, and sustainability goals through advanced cooling solutions. The proprietary NeuCool platform provides best-in-class thermal efficiencies through a safe, two-phase liquid cooling system that scales from single racks to entire data centers. For more information, visit www.accelsius.com or follow us on LinkedIn.

    For Media & PR inquiries contact:
    Treble

    McKenzie Covell

    accelsius@treblepr.com

    The MIL Network

  • MIL-OSI: Orezone Provides Update on RCF Block Trade to Australian Funds

    Source: GlobeNewswire (MIL-OSI)

    VANCOUVER, British Columbia, May 01, 2025 (GLOBE NEWSWIRE) — Orezone Gold Corporation (TSX: ORE, OTCQX: ORZCF) (the “Company” or “Orezone”) is pleased to report that the recent block trade of 40 million common shares at a price of C$1.15 per share by Resource Capital Fund VII L.P. (“RCF”) was placed into institutional funds based in Australia.

    This sale of shares aligns with the Company’s intention to complete a secondary listing on the Australian Securities Exchange (“ASX”) to expand the Company’s market profile and trading liquidity through access to an incremental pool of retail and institutional investors including specialist mining focused funds.

    Currently, 14% of the Company’s share registry is held by Australian based institutional funds, which is expected to increase after the proposed secondary listing on the ASX is completed by the end of June 2025.

    RCF became a strategic shareholder of Orezone in April 2018 during the early-stage development of the Bomboré Gold Mine and also participated in the subsequent debt financing of the Phase I oxide construction. RCF remains a strong supporter and significant shareholder of Orezone for the Phase II hard rock expansion currently underway at the Bomboré Gold Mine.

    Immediately following the disclosed sale, RCF holds 32.4 million Orezone common shares and a US$25 million convertible debenture maturing on October 15, 2026.

    About Orezone Gold Corporation

    Orezone Gold Corporation (TSX: ORE OTCQX: ORZCF) is a West African gold producer engaged in mining, developing, and exploring its flagship Bomboré Gold Mine in Burkina Faso. The Bomboré mine achieved commercial production on its oxide operations on December 1, 2022, and is now focused on its staged hard rock expansion that is expected to materially increase annual and life-of-mine gold production from the processing of hard rock mineral reserves. Orezone is led by an experienced team focused on social responsibility and sustainability with a proven track record in project construction and operations, financings, capital markets and M&A.

    The technical report entitled Bomboré Phase II Expansion, Definitive Feasibility Study is available on SEDAR+ and the Company’s website.

    Contact Information

    Patrick Downey
    President and Chief Executive Officer

    Kevin MacKenzie
    Vice President, Corporate Development and Investor Relations

    Tel: 1 778 945 8977 / Toll Free: 1 888 673 0663
    info@orezone.com / www.orezone.com

    For further information please contact Orezone at +1 (778) 945-8977 or visit the Company’s website at www.orezone.com.

    The Toronto Stock Exchange neither approves nor disapproves the information contained in this news release.

    Qualified Persons

    The scientific and technical information in this news release was reviewed and approved by Mr. Rob Henderson, P. Eng, Vice-President of Technical Services and Mr. Dale Tweed, P. Eng., Vice-President of Engineering, both of whom are Qualified Persons as defined under NI 43-101 – Standards of Disclosure for Mineral Projects.

    Cautionary Note Regarding Forward-Looking Statements

    This press release contains certain information that may constitute “forward-looking information” within the meaning of applicable Canadian Securities laws and “forward-looking statements” within the meaning of applicable U.S. securities laws (together, “forward-looking statements”).  Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “potential”, “possible” and other similar words, or statements that certain events or conditions “may”, “will”, “could”, or “should” occur.  Forward-looking statements in this press release include, but are not limited to, statements with respect to the Company’s intention to list on the ASX by the end of June 2025.

    All such forward-looking statements are based on certain assumptions and analyses made by management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management and the qualified persons believe are appropriate in the circumstances.

    All forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements including, but not limited to, delays caused by pandemics, terrorist or other violent attacks (including cyber security attacks), the failure of parties to contracts to honour contractual commitments, unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; social or labour unrest; changes in commodity prices; unexpected failure or inadequacy of infrastructure, the possibility of unanticipated costs and expenses, accidents and equipment breakdowns, political risk, unanticipated changes in key management personnel and general economic, market or business conditions, the failure of exploration programs, including drilling programs, to deliver anticipated results and the failure of ongoing and uncertainties relating to the availability and costs of financing needed in the future, and other factors described in the Company’s most recent annual information form and management discussion and analysis filed on SEDAR+. Readers are cautioned not to place undue reliance on forward-looking statements.

    Although the forward-looking statements contained in this press release are based upon what management of the Company believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this press release.

    The MIL Network

  • MIL-OSI: Lantronix to Report Fiscal 2025 Third Quarter Results on May 8, 2025

    Source: GlobeNewswire (MIL-OSI)

    IRVINE, Calif., May 01, 2025 (GLOBE NEWSWIRE) — Lantronix Inc. (the “Company”) (NASDAQ: LTRX), a global leader of compute and connectivity for IoT solutions enabling AI Edge Intelligence, today announced it will release financial results from its fiscal 2025 third quarter, ended March 31, 2025, after the close of the market on Thursday, May 8, 2025.

    Management will host an investor conference call and audio webcast at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time) on May 8, 2025. To access the live conference call, investors should dial 1-844-802-2442 (U.S.) or 1-412-317-5135 (international) and indicate they are participating in the Lantronix fiscal 2025 third-quarter call. The webcast will be available simultaneously via the investor relations section of the Company’s website.

    Investors can access a conference call replay starting at approximately 8:00 p.m. Pacific Time on May 8, 2025, on the Lantronix website. A telephonic replay will also be available through May 15, 2025, by dialing 1-877-344-7529 (US) or 1-412-317-0088 (international) or Canada Toll-Free 855-669-9658 and entering passcode 3110521.

    About Lantronix

    Lantronix Inc. is a global leader of compute and connectivity IoT solutions that target high-growth markets, including Smart Cities, Enterprise and Transportation. Lantronix’s products and services empower companies to succeed in the growing IoT markets by delivering customizable solutions that enable AI Edge Intelligence. Lantronix’s advanced solutions include Intelligent Substations infrastructure, Infotainment systems and Video Surveillance, supplemented with advanced Out-of-Band Management (OOB) for Cloud and Edge Computing.

    For more information, visit the Lantronix website.

    Lantronix Media Contact:        
    Gail Kathryn Miller
    Corporate Marketing &
    Communications Manager
    media@lantronix.com

    Lantronix Analyst and Investor Contact:        
    investors@lantronix.com

    © 2025 Lantronix Inc. All rights reserved. Lantronix is a registered trademark, and SLB and SLC are trademarks of Lantronix Inc. Other trademarks and trade names are those of their respective owners.

    This press release was published by a CLEAR® Verified individual.

    The MIL Network

  • MIL-OSI: Bitfarms Provides April 2025 Production and Operations Update

    Source: GlobeNewswire (MIL-OSI)

    – New private debt facility with a division of Macquarie Group for up to $300 million to fund initial HPC project development at Panther Creek, validating the attractiveness of Bitfarms’ potential HPC data center development pipeline-

    –Operational hashrate of 19.5 EHuM and fleet efficiency of 19 w/TH–

    This news release constitutes a “designated news release” for the purposes of the Company’s second amended and restated prospectus supplement dated December 17, 2024, to its short form base shelf prospectus dated November 10, 2023.

    TORONTO, Ontario, May 01, 2025 (GLOBE NEWSWIRE) — Bitfarms Ltd. (NASDAQ/TSX: BITF), a global energy and compute infrastructure company, today issued its latest monthly production report. All financial references are in U.S. dollars.

    CEO Ben Gagnon stated, “In April, we secured an attractive financing facility for up to $300 million with a division of Macquarie Group, one of the world’s largest and most reputable infrastructure investors. These funds will be used solely to fund HPC data center development at our Panther Creek location. Panther Creek has the scale, location, power availability, and fiber connectivity that we expect will attract notable HPC counterparties. This site also has the quickest energization timeline of our three PA sites, and we are already working on the Site Map Plans, development timelines and renderings needed in order to begin to build out the powered land.

    “We are confident this partnership will not only accelerate our buildout at Panther Creek, but also open doors to future opportunities with Macquarie as we look to scale our project and potentially expand to other sites within our portfolio. Amidst the surging AI revolution and the growing demand for power and infrastructure, this financing arrives at a pivotal time. We believe the analyses provided by our strategic partners, ASG and WWT, along with Macquarie’s due diligence and industry expertise, validate our HPC opportunity thesis at Panther Creek, strengthen our HPC pipeline and strategy, and position Bitfarms as a market leader in sourcing and developing large-scale, high-quality HPC data center projects.

    “Our Bitcoin business is strong, and we remain bullish on mining economics with our newly upgraded mining fleet.  We have no need nor plans for a large miner purchase in 2025 or 2026, enabling us to focus our efforts on developing U.S. energy and HPC infrastructure, which we believe will create lasting shareholder value.”

    April 2025 Select Operating Highlights

    Key Performance Indicators April 2025 March 2025
    (proforma)
    Total BTC earned 268 280
    Month End Operating EHuM 19.5 19.5
    BTC/Avg. EH/s 16 17
    Average Operating EHuM 17.2 16.4
    Energized Capacity (MW) 461 461
    Watts/Terahash Efficiency (w/TH) 19 19
    • 19.5 EHuM operational at April 30, 2025.
    • 17.2 EHuM average operational, up 5% M/M.
    • 16 BTC/average EHuM, 6% lower M/M.
    • 268 BTC earned, 4% lower M/M.
    • 8.9 BTC earned daily on average, equal to ~$837,000 per day based on a BTC price of $94,000 at April 30, 2025.

    April 2025 Financial Update

    • Treasury of 1,005 BTC, down from 1,140 BTC last month and representing $94 million based on the Bitcoin price of $94,000 at April 30, 2025.

    About Bitfarms Ltd.
    Founded in 2017, Bitfarms is a global energy and compute infrastructure company that develops, owns, and operates vertically integrated HPC and Bitcoin mining data centers. Bitfarms currently has 15 operating Bitcoin data centers situated in four countries: the United States, Canada, Argentina and Paraguay.

    Powered primarily by environmentally friendly hydro-electric and long-term power contracts, Bitfarms is committed to using sustainable and often underutilized energy infrastructure.

    To learn more about Bitfarms’ events, developments, and online communities:

    www.bitfarms.com
    https://www.facebook.com/bitfarms/
    https://x.com/Bitfarms_io
    https://www.instagram.com/bitfarms/
    https://www.linkedin.com/company/bitfarms/

    Glossary of Terms

    • Y/Y or M/M= year over year or month over month
    • BTC or BTC/day = Bitcoin or Bitcoin per day
    • EH or EH/s = Exahash or exahash per second
    • EHuM = Exahash Under Management, which includes Bitfarms’ proprietary hashrate and hashrate being hosted by Bitfarms for third-party hosting clients
    • MW or MWh = Megawatts or megawatt hour
    • GW or GWh= Gigawatts or gigawatt hour
    • w/TH = Watts/Terahash efficiency (includes cost of powering supplementary equipment)
    • HPC/AI = High Performance Computing / Artificial Intelligence
    • Energized capacity= Power available

    Forward-Looking Statements

    This news release contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) that are based on expectations, estimates and projections as at the date of this news release and are covered by safe harbors under Canadian and United States securities laws. The statements and information in this release regarding the North American energy and compute infrastructure strategy, opportunities relating to the potential of the Company’s data centers for HPC/AI opportunities, the potential to deploy the proceeds of the Macquarie Group financing facility at the Panther Creek location, the merits and ability to secure long-term contracts associated with HPC/AI customers, the success of the Company’s HPC/AI strategy in general and its ability to capitalize on growing demand for AI computing while securing predictable cash flows and revenue diversification, the Company’s energy pipeline and its anticipated megawatt growth, the Company’s ability to drive greater shareholder value, projected growth, target hashrate, and other statements regarding future growth, plans and objectives of the Company are forward-looking information.

    Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “prospects”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information.

    This forward-looking information is based on assumptions and estimates of management of Bitfarms at the time they were made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of Bitfarms to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors, risks and uncertainties include, among others: an inability to apply the Company’s data centers to HPC/AI opportunities on a profitable basis; a failure to secure long-term contracts associated with HPC/AI customers on terms which are economic or at all; the construction and operation of new facilities may not occur as currently planned, or at all; expansion of existing facilities may not materialize as currently anticipated, or at all; an inability to satisfy the Panther Creek location related milestones which are conditions to loan drawdowns under the Macquarie Group financing facility; an inability to deploy the proceeds of the Macquarie Group financing facility to generate positive returns at the Panther Creek location; new miners may not perform up to expectations; revenue may not increase as currently anticipated, or at all; the ongoing ability to successfully mine digital currency is not assured; failure of the equipment upgrades to be installed and operated as planned; the availability of additional power may not occur as currently planned, or at all; expansion may not materialize as currently anticipated, or at all; the power purchase agreements and economics thereof may not be as advantageous as expected; potential environmental cost and regulatory penalties due to the operation of the former Stronghold plants which entail environmental risk and certain additional risk factors particular to the former business and operations of Stronghold including, land reclamation requirements may be burdensome and expensive, changes in tax credits related to coal refuse power generation could have a material adverse effect on the business, financial condition, results of operations and future development efforts, competition in power markets may have a material adverse effect on the results of operations, cash flows and the market value of the assets, the business is subject to substantial energy regulation and may be adversely affected by legislative or regulatory changes, as well as liability under, or any future inability to comply with, existing or future energy regulations or requirements, the operations are subject to a number of risks arising out of the threat of climate change, and environmental laws, energy transitions policies and initiatives and regulations relating to emissions and coal residue management, which could result in increased operating and capital costs and reduce the extent of business activities, operation of power generation facilities involves significant risks and hazards customary to the power industry that could have a material adverse effect on our revenues and results of operations, and there may not have adequate insurance to cover these risks and hazards, employees, contractors, customers and the general public may be exposed to a risk of injury due to the nature of the operations, limited experience with carbon capture programs and initiatives and dependence on third-parties, including consultants, contractors and suppliers to develop and advance carbon capture programs and initiatives, and failure to properly manage these relationships, or the failure of these consultants, contractors and suppliers to perform as expected, could have a material adverse effect on the business, prospects or operations; the digital currency market; the ability to successfully mine digital currency; it may not be possible to profitably liquidate the current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on operations; an increase in network difficulty may have a significant negative impact on operations; the volatility of digital currency prices; the anticipated growth and sustainability of hydroelectricity for the purposes of cryptocurrency mining in the applicable jurisdictions; the inability to maintain reliable and economical sources of power to operate cryptocurrency mining assets; the risks of an increase in electricity costs, cost of natural gas, changes in currency exchange rates, energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which Bitfarms operates and the potential adverse impact on profitability; future capital needs and the ability to complete current and future financings, including Bitfarms’ ability to utilize an at-the-market offering program ( “ATM Program”) and the prices at which securities may be sold in such ATM Program, as well as capital market conditions in general; share dilution resulting from an ATM Program and from other equity issuances; the risks of debt leverage and the ability to service and eventually repay the Macquarie Group financing facility; volatile securities markets impacting security pricing unrelated to operating performance; the risk that a material weakness in internal control over financial reporting could result in a misstatement of financial position that may lead to a material misstatement of the annual or interim consolidated financial statements if not prevented or detected on a timely basis; risks related to the Company ceasing to qualify as an “emerging growth company”; risks related to unsolicited investor interest, takeover proposals, shareholder activism or proxy contests relating to the election of directors; historical prices of digital currencies and the ability to mine digital currencies that will be consistent with historical prices; and the adoption or expansion of any regulation or law that will prevent Bitfarms from operating its business, or make it more costly to do so. For further information concerning these and other risks and uncertainties, refer to Bitfarms’ filings on www.sedarplus.ca (which are also available on the website of the U.S. Securities and Exchange Commission (the “SEC”) at www.sec.gov), including the management’s discussion & analysis for the year-ended December 31, 2024 Although Bitfarms has attempted to identify important factors that could cause actual results to differ materially from those expressed in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended, including factors that are currently unknown to or deemed immaterial by Bitfarms. There can be no assurance that such statements will prove to be accurate as actual results, and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on any forward-looking information. Bitfarms does not undertake any obligation to revise or update any forward-looking information other than as required by law. Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the Toronto Stock Exchange, Nasdaq, or any other securities exchange or regulatory authority accepts responsibility for the adequacy or accuracy of this release.

    Investor Relations Contact:

    Bitfarms
    Tracy Krumme
    SVP, Head of IR & Corp. Comms.
    +1 786-671-5638
    tkrumme@bitfarms.com

    Media Contact: 

    Bitfarms
    Caroline Brady Baker 
    Director, Communications   
    cbaker@bitfarms.com 

    The MIL Network

  • MIL-OSI: Westhaven Announces Brokered Private Placement for Gross Proceeds of up to C$4.0 Million

    Source: GlobeNewswire (MIL-OSI)

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

    VANCOUVER, British Columbia, May 01, 2025 (GLOBE NEWSWIRE) — Westhaven Gold Corp. (TSX-V:WHN) (“Westhaven” or the “Company”) is pleased to announce that the Company has entered into an agreement with Red Cloud Securities Inc. (the “Agent”) to act as sole agent and bookrunner in connection with a best efforts, private placement (the “Offering“) for aggregate gross proceeds of up to C$4,000,000 from the sale of any combination of the following, provided that at least 50% of the gross proceeds of the Offering, which includes the potential gross proceeds of the Agent’s Option (as defined below), will be raised from the sale of Units (as defined herein):

    • units of the Company (each, a “Unit”) at a price of C$0.12 per Unit;
    • common shares of the Company that will qualify as “flow-through shares” within the meaning of subsection 66(15) of the Income Tax Act (Canada) (each, a “FT Share”) at a price of C$0.135 per FT Share; and
    • flow-through units of the Company to be sold to charitable purchasers (each, a “Charity FT Unit”, and collectively with the Units and FT Shares, the “Offered Securities”) at a price of C$0.18 per Charity FT Unit.

    Each Unit will consist of one common share of the Company (each, a “Unit Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Charity FT Unit will consist of one FT Share and one half of one Warrant. Each whole Warrant shall entitle the holder to purchase one common share of the Company (each, a “Warrant Share”) at a price of C$0.18 at any time on or before that date which is 24 months after the closing date of the Offering.

    The Agent will have an option, exercisable in full or in part, up to 48 hours prior to the closing of the Offering, to sell up to an additional C$600,000 in Offered Securities (the “Agent’s Option”).

    The Offered Securities will be offered by way of the “accredited investor” and “minimum amount investment” exemptions under NI 45-106 in the provinces of Alberta, British Columbia, Manitoba, Ontario and Saskatchewan. The Units may also be sold in offshore jurisdictions and in the United States on a private placement basis pursuant to one or more exemptions from the registration requirements of the United States Securities Act of 1933 (the “U.S. Securities Act“), as amended. The Unit Shares, FT Shares and Warrant Shares issuable from the sale of Offered Securities will be subject to a hold period ending on the date that is four months plus one day following the closing date of the Offering under applicable Canadian securities laws.

    The Company intends to use the net proceeds from the sale of Units for working capital and general corporate purposes. The gross proceeds from the issuance of the FT Shares will be used for Canadian exploration expenses on the Company’s projects in British Columbia and will qualify as “flow-through mining expenditures”, as defined in subsection 127(9) of the Income Tax Act (Canada) (the “Qualifying Expenditures”), which will be incurred on or before December 31, 2026 and renounced to the subscribers with an effective date no later than December 31, 2025 in an aggregate amount not less than the gross proceeds raised from the issue of the FT Shares.

    The Offering is scheduled to close on or around May 15, 2025, or such other date as the Company and the Agent may agree, and is subject to certain conditions including, but not limited to, receipt of all necessary approvals including the approval of the TSX Venture Exchange.

    The Company will pay to the Agent a cash commission of 6% of the gross proceeds raised in respect of the Offering, including any exercise of the Agent’s Option (the “Agent’s Commission”). In addition, the Company will issue to the Agent warrants of the Company (each warrant, a “Broker Warrant”), exercisable for a period of 24 months following the Closing Date, to acquire in aggregate that number of common shares of the Company which is equal to 6% of the number of Offered Securities sold under the Offering, including any exercise of the Agent’s Option, at an exercise price equal to C$0.12 per common share.

    To the extent that any directors and/or officers of the Company participate in the Offering, such participation will constitute a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“). The Company expects any participation by directors and officers in the Offering will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to sections 5.5(a) and 5.7(1)(a) of MI 61-101 based on the fact that neither the fair market value of the Units, FT Shares or Charity FT Units subscribed for by directors and officers, nor the consideration for such securities to be paid by them, will exceed 25% of the Company’s market capitalization.

    The securities offered have not been, nor will they be, registered under the U.S. Securities Act, as amended, or any state securities law, and may not be offered, sold or delivered, directly or indirectly, within the United States, or to or for the account or benefit of U.S. persons, absent registration or an exemption from such registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful.

    On behalf of the Board of Directors

    WESTHAVEN GOLD CORP.

    “Gareth Thomas”

    Gareth Thomas, Director

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

    About Westhaven Gold Corp.

    Westhaven is a gold-focused exploration company targeting low sulphidation, high-grade, epithermal style gold mineralization within Canada’s newest gold district, the Spences Bridge Gold Belt. Westhaven controls ~61,512 hectares (~615 square kilometres) within four gold properties spread along this underexplored belt. The Shovelnose Gold Project is the most advanced property, with an updated 2025 Preliminary Economic Assessment that validates the Project’s potential as a robust, low cost and high margin 11-year underground gold mining opportunity with average annual life-of-mine gold production of 56,000 ounces and having a Cdn$454 million after-tax NPV6% and 43.2% IRR (base case parameters of US$2,400 per ounce gold, US$28 per ounce silver and CDN/US$ exchange rate of $0.72). Initial capital costs are projected to be Cdn$184 million with a payback period of 2.1 years. Please see Westhaven’s news release dated March 3rd, 2025 (Link: March 3, 2025 News Release) for details of the updated PEA. The technical report supporting this disclosure can be found under the Company’s profile on Sedar+ (www.sedarplus.ca) and on the Company’s website. The Shovelnose Gold Project is situated off a major highway, near power, rail, large producing mines, pipelines and within commuting distance from the city of Merritt, which translates into low-cost exploration and development. Qualified Person: The technical and scientific information in this news release has been reviewed and approved by Peter Fischl, P.Geo, who is a Qualified Person for the Company under the definitions established by National Instrument 43-101 Standards of Disclosure for Mineral Projects. Westhaven trades on the TSX Venture Exchange under the ticker symbol WHN. For further information, please call 604-681-5558 or visit Westhaven’s website at www.westhavengold.com.

    Forward-Looking Statements:

    This press release contains “forward-looking information” within the meaning of applicable Canadian and United States securities laws, which is based upon the Company’s current internal expectations, estimates, projections, assumptions and beliefs. The forward-looking information included in this press release are made only as of the date of this press release. Such forward-looking statements and forward-looking information include, but are not limited to, statements concerning the Company’s expectations with respect to the Offering; the use of proceeds of the Offering; completion of the Offering and the date of such completion. Forward-looking statements or forward-looking information relate to future events and future performance and include statements regarding the expectations and beliefs of management based on information currently available to the Company. Such forward-looking statements and forward-looking information often, but not always, can be identified by the use of words such as “plans”, “expects”, “potential”, “is expected”, “anticipated”, “is targeted”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.

    Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others, and without limitation: that the Offering may not close within the timeframe anticipated or at all or may not close on the terms and conditions currently anticipated by the Company for a number of reasons including, without limitation, as a result of the occurrence of a material adverse change, disaster, change of law or other failure to satisfy the conditions to closing of the Offering; the Company will not be able to raise sufficient funds to complete its planned exploration program; that the Company will not derive the expected benefits from its current program; the Company may not use the proceeds of the Offering as currently contemplated; the Company may fail to find a commercially viable deposit at any of its mineral properties; the Company’s plans may be adversely affected by the Company’s reliance on historical data compiled by previous parties involved with its mineral properties; mineral exploration and development are inherently risky industries; the mineral exploration industry is intensely competitive; additional financing may not be available to the Company when required or, if available, the terms of such financing may not be favourable to the Company; fluctuations in the demand for gold or gold prices generally; the Company may not be able to identify, negotiate or finance any future acquisitions successfully, or to integrate such acquisitions with its current business; the Company’s exploration activities are dependent upon the grant of appropriate licenses, concessions, leases, permits and regulatory consents, which may be withdrawn or not granted; the Company’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; there is no guarantee that title to the properties in which the Company has a material interest will not be challenged or impugned; the Company faces various risks associated with mining exploration that are not insurable or may be the subject of insurance which is not commercially feasible for the Company; the volatility of global capital markets over the past several years has generally made the raising of capital more difficult; inflationary cost pressures may escalate the Company’s operating costs; compliance with environmental regulations can be costly; social and environmental activism can negatively impact exploration, development and mining activities; the success of the Company is largely dependent on the performance of its directors and officers; the Company’s operations may be adversely affected by First Nations land claims; the Company and/or its directors and officers may be subject to a variety of legal proceedings, the results of which may have a material adverse effect on the Company’s business; the Company may be adversely affected if potential conflicts of interests involving its directors and officers are not resolved in favour of the Company; the Company’s future profitability may depend upon the world market prices of gold; dilution from future equity financing could negatively impact holders of the Company’s securities; failure to adequately meet infrastructure requirements could have a material adverse effect on the Company’s business; the Company’s projects now or in the future may be adversely affected by risks outside the control of the Company; the Company is subject to various risks associated with climate change, the Company is subject to general global risks arising from epidemic diseases, the ongoing conflicts in Ukraine and the Middle East, rising inflation, tariffs and interest rates and the impact they will have on the Company’s operations, supply chains, ability to access mining projects or procure equipment, supplies, contractors and other personnel on a timely basis or at all is uncertain; as well as other risk factors in the Company’s other public filings available at www.sedarplus.ca. Readers are cautioned that this list of risk factors should not be construed as exhaustive. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. The Company cannot guarantee future results, performance, or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information. The Company undertakes no duty to update any of the forward-looking information to conform such information to actual results or to changes in the Company’s expectations, except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information. The forward-looking information contained in this offering document is expressly qualified by this cautionary statement.

    The MIL Network

  • MIL-OSI: TC Energy reports solid first quarter 2025 results

    Source: GlobeNewswire (MIL-OSI)

    Expect to place approximately $8.5 billion of projects into service in 2025, tracking to roughly 15 per cent under budget

    Announced $2.4 billion of new natural gas and nuclear power generation growth projects

    CALGARY, Alberta, May 01, 2025 (GLOBE NEWSWIRE) — TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) released its first quarter results today. François Poirier, TC Energy’s President and Chief Executive Officer commented, “As natural gas and electricity are forecasted to drive the majority of growth in final energy consumption through 2035, we are pleased to announce two new growth projects that represent strategic investments in North America’s energy future. We have approved the Northwoods project on our ANR system, designed to serve electric generation demand in the U.S. Midwest, including data centres and overall economic growth.” Poirier continued, “Demonstrating our commitment to delivering long-lived value through investment in high-quality, emission-less nuclear power generation, we have also sanctioned Unit 5 at Bruce Power for its Major Component Replacement. Backed by long-term contracts with credible counterparties and attractive build multiples1, these projects collectively highlight our disciplined strategy and our ability to capture high-value, low-risk opportunities across our portfolio.”

    Financial Highlights
    (All financial figures are unaudited and in Canadian dollars unless otherwise noted)

    • First quarter 2025 financial results from continuing operations2:
      • Comparable earnings3 of $1.0 billion or $0.95 per common share compared to $1.1 billion or $1.02 per common share in first quarter 2024
      • Net income attributable to common shares of $1.0 billion or $0.94 per common share compared to $1.0 billion or $0.95 per common share in first quarter 2024
      • Comparable EBITDA2 of $2.7 billion, similar to first quarter 2024
      • Segmented earnings of $2.0 billion compared to $1.9 billion in first quarter 2024
    • Reaffirming 2025 outlook:
      • Comparable EBITDA is expected to be $10.7 to $10.9 billion4
      • Comparable earnings per common share (EPS) outlook remains consistent with our 2024 Annual Report, and is expected to be lower than 2024
      • Capital expenditures are anticipated to be $6.1 to $6.6 billion on a gross basis, or $5.5 to $6.0 billion of net capital expenditures5
    • Declared a quarterly dividend of $0.85 per common share for the quarter ending June 30, 2025.

    Operational Highlights

    • Canadian Natural Gas Pipelines deliveries averaged 27.6 Bcf/d, up eight per cent compared to first quarter 2024
      • Total NGTL System deliveries set a new record of 17.8 Bcf on February 18, 2025
      • Canadian Mainline receipts averaged 5.0 Bcf/d, an increase of 14 per cent compared to first quarter 2024
    • U.S. Natural Gas Pipelines daily average flows were 31.0 Bcf/d, up five per cent compared to first quarter 2024
      • GTN set a new all-time record of 3.2 Bcf on February 19, 2025
      • Deliveries to LNG facilities averaged 3.5 Bcf/d, up five per cent compared to first quarter 2024
    • Mexico Natural Gas Pipelines flows averaged 3.1 Bcf/d, six per cent higher than first quarter 2024
      • Set a daily flow record of 4.1 Bcf on March 31, 2025
    • Bruce Power achieved 87 per cent availability in first quarter 2025, reflecting a planned outage on Unit 5
    • Cogeneration power plant fleet achieved 98.6 per cent availability in first quarter 2025, attributed to fewer forced outages and spring outages completed successfully ahead of plan.

    Project Highlights

    • The Southeast Gateway pipeline is ready for service. CFE has agreed to our contracted rate and accepted all requirements for in-service. Approval of our regulated rates from the Comisión Nacional de Energía (CNE) is expected by the end of May, at which time we anticipate the in-service of the Southeast Gateway pipeline. While 100 per cent of our capacity is contracted with the CFE and we have no requests for interruptible service, approval of the regulated rate by the CNE is normal course prior to commencing service. The 1.3 Bcf/d, 715-kilometre natural gas pipeline was constructed approximately 13 per cent under the original cost estimate in less than three years from the project’s final investment decision
    • Approved the Northwoods project, an expansion project on our ANR system designed to provide 0.4 Bcf/d of capacity to serve natural gas-fired electric generation demand in the U.S. Midwest, including data centres and overall economic growth. The project has an anticipated in-service date of late 2029 with an estimated cost of approximately US$0.9 billion, and expects to deliver a compelling build multiple in the range of five to seven times
    • Received approval of the Unit 5 Major Component Replacement (MCR) final cost and schedule estimate from the Ontario Independent Electricity System Operator (IESO) on April 2, 2025. The $1.1 billion Unit 5 MCR is expected to commence in fourth quarter 2026 with a return to service in early 2030
    • ANR and GLGT each filed Section 4 Rate Cases with FERC requesting an increase to their respective maximum transportation rates expected to become effective November 1, 2025, subject to refund. We will pursue a collaborative process to find a mutually beneficial outcome with our customers through settlement.
        three months ended
    March 31
    (millions of $, except per share amounts)     2025       20241  
             
    Income        
    Net income (loss) attributable to common shares from continuing operations     978       988  
    per common share – basic   $ 0.94     $ 0.95  
             
    Segmented earnings (losses)        
    Canadian Natural Gas Pipelines     516       501  
    U.S. Natural Gas Pipelines     1,109       1,043  
    Mexico Natural Gas Pipelines     211       212  
    Power and Energy Solutions     135       252  
    Corporate     (5 )     (61 )
    Total segmented earnings (losses)     1,966       1,947  
             
    Comparable EBITDA from continuing operations        
    Canadian Natural Gas Pipelines     890       846  
    U.S. Natural Gas Pipelines     1,367       1,306  
    Mexico Natural Gas Pipelines     233       214  
    Power and Energy Solutions     224       320  
    Corporate     (5 )     (16 )
    Comparable EBITDA from continuing operations     2,709       2,670  
    Depreciation and amortization     (678 )     (635 )
    Interest expense included in comparable earnings     (840 )     (780 )
    Allowance for funds used during construction     248       157  
    Foreign exchange gains (losses), net included in comparable earnings     (10 )     43  
    Interest income and other     51       75  
    Income tax (expense) recovery included in comparable earnings     (292 )     (281 )
    Net (income) loss attributable to non-controlling interests included in comparable earnings     (177 )     (171 )
    Preferred share dividends     (28 )     (23 )
    Comparable earnings from continuing operations     983       1,055  
    Comparable earnings per common share from continuing operations   $ 0.95     $ 1.02  
             
        three months ended
    March 31
    (millions of $, except per share amounts)     2025       2024  
             
    Cash flows2        
    Net cash provided by operations3     1,359       2,042  
    Comparable funds generated from operations3,4     1,949       2,436  
    Capital spending5     1,809       1,897  
    Disposition of equity interest, net of transaction costs6           (38 )
             
    Dividends declared        
    per common share   $ 0.85   7 $ 0.96  
             
    Basic common shares outstanding(millions)        
    – weighted average for the period     1,039       1,037  
    – issued and outstanding at end of period     1,040       1,037  
    1. Results reflect continuing operations.
    2. Includes continuing and discontinued operations.
    3. Represents three months of Liquids Pipelines earnings in first quarter 2024 compared to Liquids Pipelines earnings of nil for the three months ended March 31, 2025. Refer to the Discontinued operations section and the 2024 Annual Report for additional information.
    4. Comparable funds generated from operations is a non-GAAP measure used throughout this news release. This measure does not have any standardized meaning under GAAP and therefore is unlikely to be comparable to similar measures presented by other companies. The most directly comparable GAAP measure is net cash provided by operations. For more information on non-GAAP measures, refer to the Non-GAAP Measures section of this news release.
    5. Capital spending reflects cash flows associated with our Capital expenditures, Capital projects in development and Contributions to equity investments. Refer to Note 4, Segmented information of our Condensed consolidated financial statements for additional information.
    6. Included in the Financing activities section of the Condensed consolidated statement of cash flows.
    7. Reflects TC Energy’s proportionate allocation following the spinoff Transaction.

    CEO Message
    Throughout the first three months of 2025, TC Energy showcased the strength of our business and our position as an industry leading natural gas and power and energy solutions company. While evolving macroeconomic conditions continue to contribute to market uncertainty, we have reaffirmed our 2025 outlook based on our highly contracted, low-risk business with 97 per cent of our comparable EBITDA underpinned by rate-regulation and/or long-term take-or-pay contracts. We delivered strong operational and financial results, achieving approximately one per cent growth in both comparable EBITDA and segmented earnings compared to first quarter 2024, despite removing a second unit from service at Bruce Power for its MCR. These results continue to demonstrate the overall resiliency of our business. We remain focused on maximizing the value of our assets through safety and operational excellence, executing our selective portfolio of growth projects and ensuring financial strength and agility as we deliver solid growth, low risk and repeatable performance for our shareholders.

    The Southeast Gateway pipeline is now ready for service, representing a significant milestone in project execution. The 1.3 Bcf/d, 715-kilometre natural gas pipeline was constructed approximately 13 per cent under the original cost estimate in less than three years from the project’s final investment decision. Our partner and customer, CFE, has agreed to our contracted rate and accepted all requirements for in-service. We are jointly working with the CNE and the Secretary of Energy to obtain the approval of the regulatory rates, required for interruptible service. While 100 per cent of our capacity is contracted with the CFE and we have no requests for interruptible service, approval of the regulated rate by the CNE is normal course and required by Mexican regulation prior to commencing service. We expect to receive CNE approval by the end of May, at which time we anticipate the in-service of the Southeast Gateway pipeline. Southeast Gateway in-service will represent an important inflection point for TC Energy, contributing significant long-term contracted cash flow to our overall growth profile. The Government of Mexico has announced plans to bring approximately 29 gigawatts of new installed capacity online by 2030, including approximately 8.5 gigawatts of capacity from new natural gas plants6. The Southeast Gateway project is a critical component of this plan, strategically positioned to support operations of 10 of 14 planned natural gas power plants that support the country’s transition to lower-emitting, more reliable sources of energy while driving economic growth and energy security.

    As natural gas and electricity are forecasted to drive the majority of growth in final energy consumption through 2035, TC Energy’s portfolio of natural gas and power assets are presented with attractive in-corridor opportunities with visibility through the end of the decade. Reflecting this opportunity, we have sanctioned the Northwoods project on our ANR system in the range of a five to seven times build multiple. Under a 20 year, take-or-pay contract, the estimated US$0.9 billion project is designed to serve natural gas-fired electric generation demand in the U.S. Midwest, including data centres and overall economic growth. The estimated in-service date of the 0.4 Bcf/d capacity project is late 2029. The Northwoods project exemplifies our strategic focus on executing high value, in-corridor, low-risk projects at attractive build multiples, underpinned by long-term take-or-pay contracts with creditworthy counterparties, allowing us to continue to deliver solid growth, low risk and repeatable performance.

    Looking forward, led by a three-fold increase in LNG exports, strong growth in power generation driven by coal-to-gas conversions and data centre demand, we expect our assets will play a pivotal role in the delivery of reliable, affordable and sustainable energy. Our origination pipeline remains one of the most robust we have seen in decades, with several projects in advanced stages of development, largely related to coal-to-gas conversions and data centre demand growth. Over the past six months, we have sanctioned approximately $4 billion of new capital projects and believe we have line of sight to an increased cadence of project announcements in the second half of 2025 and into 2026. While we anticipate the majority of incremental capital would be weighted toward the end of the decade, we have added capital expenditures in 2025 and 2026 that further enhances our comparable EBITDA growth profile in 2027 and beyond, while ensuring the safety and reliability of our systems. These investments directly support service provided to our customers and their requests for capacity additions. Consistent with our disciplined approach to capital allocation, we expect projects to align with our target of five to seven times build multiples and underpinned by long-term contracts with strong counterparties.

    As electricity demand in Ontario is anticipated to grow 75 per cent by 20507, Bruce Power continues play a critical role. On April 2, 2025, we received approval of the Unit 5 MCR final cost and schedule estimate from the Ontario IESO. The $1.1 billion Unit 5 MCR is expected to commence in fourth quarter 2026 with a return to service in early 2030. As we progress the refurbishment program at Bruce Power, the team remains focused on achieving the highest level of reliability, availability and safety performance at the site. On January 31, 2025, Unit 4 was removed from service to commence its MCR program, with a return to service expected in 2028. Unit 3 MCR and Unit 4 MCR continue to advance on plan for both cost and schedule. The average 2025 plant availability percentage, excluding the Unit 3 and Unit 4 MCR programs, is expected to be in the low-90 per cent range, and reflects planned maintenance on Unit 2 anticipated in the third quarter of 2025. The MCR program provides TC Energy with line of sight to meaningful growth capital at attractive returns through the end of the decade, backed by a long-term contract to 2064 with the Ontario IESO.

    We continue to expect approximately $8.5 billion of projects to be placed into service in 2025, which includes the Southeast Gateway pipeline project. Our focus on project execution is a cornerstone of our strategic priorities. For the remaining projects anticipated to be placed in service in 2025, we are tracking to schedule and below initial cost estimates. High-grading projects remains a priority to optimize returns to maximize value. We will continue to sanction projects with a compelling risk/return profile to fill our $6.0 billion annual net capital expenditure limit and extend the duration of our project backlog, ensuring visibility to growth opportunities through 2030. Through this, we can continue to organically grow comparable EBITDA to support our three to five per cent dividend growth target and further reduce leverage over time.

    TC Energy’s Board of Directors approved a quarterly common share dividend of $0.85 per common share for the quarter ending June 30, 2025, equivalent to $3.40 per common share on an annualized basis.

    Teleconference and Webcast
    We will hold a teleconference and webcast on Thursday, May 1, 2025 at 6:30 a.m. (MDT) / 8:30 a.m. (EDT) to discuss our first quarter 2025 financial results and Company developments. Presenters will include François Poirier, President and Chief Executive Officer; Sean O’Donnell, Executive Vice-President and Chief Financial Officer; and other members of the executive leadership team.

    Members of the investment community and other interested parties are invited to participate by calling 1-833-752-3826 (Canada/U.S.) or 1-647-846-8864 (International toll). No passcode is required. Please dial in 15 minutes prior to the start of the call. Alternatively, participants may pre-register for the call here. Upon registering, you will receive a calendar booking by email with dial in details and a unique PIN. This process will bypass the operator and avoid the queue. Registration will remain open until the end of the conference call.

    A live webcast of the teleconference will be available on TC Energy’s website at TC Energy — Events and presentations or via the following URL: https://www.gowebcasting.com/13942. The webcast will be available for replay following the meeting.

    A replay of the teleconference will be available two hours after the conclusion of the call until midnight EDT on May 8, 2025. Please call 1-855-669-9658 (Canada/U.S.) or 1-412-317-0088 (International toll) and enter passcode 6585702.

    The unaudited interim Condensed consolidated financial statements and Management’s Discussion and Analysis (MD&A) are available on our website at www.TCEnergy.com and will be filed today under TC Energy’s profile on SEDAR+ at www.sedarplus.ca and with the U.S. Securities and Exchange Commission on EDGAR at www.sec.gov.

    About TC Energy
    We’re a team of 6,500+ energy problem solvers connecting the world to the energy it needs. Out extensive network of natural gas infrastructure assets is one-of-a-kind. We seamlessly move, generate and store energy and deliver it to where it is needed most, to home and businesses in North America and across the globe through LNG exports. Our natural gas assets are complemented by our strategic ownership and low-risk investments in power generation.

    TC Energy’s common shares trade on the Toronto (TSX) and New York (NYSE) stock exchanges under the symbol TRP. To learn more, visit us at www.TCEnergy.com.

    Forward-Looking Information
    This release contains certain information that is forward-looking and is subject to important risks and uncertainties and is based on certain key assumptions. Forward-looking statements are usually accompanied by words such as “anticipate”, “expect”, “believe”, “may”, “will”, “should”, “estimate” or other similar words. Forward-looking statements in this document may include, but are not limited to, statements related to expectations with respect to Southeast Gateway, including receipt of CNE approval, in-service date, cash flows and other impacts, expectations related to Northwoods project, including expected in-service dates and related expected capital expenditures, expected comparable EBITDA and comparable earnings in total and per common share and the sources thereof, expectations with respect to Bruce Power, including the MCR program and associated cost and schedule estimates, expectations with respect to the approximate value of projects to be placed in-service in 2025, expectations with respect to identified FERC rate cases, including timelines, processes and outcomes, expectations with respect to our strategic priorities, and the execution thereof, expectations with respect to our ability to maximize the value of our assets through safety and operational excellence, expected cost and schedules for planned projects, including projects under construction and in development and the associated capital expenditures, expectations about energy demand levels and drivers thereof, expectations about our ability to execute our identified portfolio of growth projects and ensure financial strength and agility, our ability to deliver solid growth, low risk and repeatable performance, our expected net capital expenditures, including timing, and expected industry, market and economic conditions, and ongoing trade negotiations, including their expected impact on our business, customers and suppliers. Our forward-looking information is subject to important risks and uncertainties and is based on certain key assumptions. Forward-looking statements and future-oriented financial information in this document are intended to provide TC Energy security holders and potential investors with information regarding TC Energy and its subsidiaries, including management’s assessment of TC Energy’s and its subsidiaries’ future plans and financial outlook. All forward-looking statements reflect TC Energy’s beliefs and assumptions based on information available at the time the statements were made and as such are not guarantees of future performance. As actual results could vary significantly from the forward-looking information, you should not put undue reliance on forward-looking information and should not use future-oriented information or financial outlooks for anything other than their intended purpose. We do not update our forward-looking information due to new information or future events, unless we are required to by law. For additional information on the assumptions made, and the risks and uncertainties which could cause actual results to differ from the anticipated results, refer to the most recent Quarterly Report to Shareholders and the 2024 Annual Report filed under TC Energy’s profile on SEDAR+ at www.sedarplus.ca and with the U.S. Securities and Exchange Commission at www.sec.gov and the “Forward-looking information” section of our Report on Sustainability and our GHG Emissions Reduction Plan which are available on our website at www.TCEnergy.com.

    Non-GAAP and Supplementary Financial Measure
    This release contains references to the following non-GAAP measures: comparable EBITDA, comparable earnings, comparable earnings per common share and comparable funds generated from operations. These non-GAAP measures do not have any standardized meaning as prescribed by GAAP and therefore may not be comparable to similar measures presented by other entities. These non-GAAP measures are calculated by adjusting certain GAAP measures for specific items we believe are significant but not reflective of our underlying operations in the period. These comparable measures are calculated on a consistent basis from period to period and are adjusted for specific items in each period, as applicable except as otherwise described in the Condensed consolidated financial statements and MD&A. Refer to: (i) each business segment and the discontinued operations section for a reconciliation of comparable EBITDA to segmented earnings (losses); (ii) Consolidated results section and the discontinued operations section for reconciliations of comparable earnings and comparable earnings per common share to Net income attributable to common shares and Net income per common share, respectively; and (iii) Financial condition section for a reconciliation of comparable funds generated from operations to Net cash provided by operations. Refer to the Non-GAAP Measures section of the MD&A in our most recent quarterly report for more information about the non-GAAP measures we use. The MD&A is included with, and forms part of, this release. The MD&A can be found on SEDAR+ at www.sedarplus.ca under TC Energy’s profile.

    This release contains references to build multiple, which is non-GAAP ratio which is calculated using capital expenditures and comparable EBITDA, of which comparable EBITDA is a non-GAAP measure. We believe build multiple provides investors with a useful measure to evaluate capital projects.

    This release also contains references to net capital expenditures, which is a supplementary financial measure. Net capital expenditures represent capital costs incurred for growth projects, maintenance capital expenditures, contributions to equity investments and projects under development, adjusted for the portion attributed to non-controlling interests in the entities we control. Net capital expenditures reflect capital costs incurred during the period, excluding the impact of timing of cash payments. We use net capital expenditures as a key measure in evaluating our performance in managing our capital spending activities in comparison to our capital plan.

    Download full report here: https://www.tcenergy.com/siteassets/pdfs/investors/reports-and-filings/annual-and-quarterly-reports/2025/tce-2025-q1-quarterly-report.pdf

    Media Inquiries:
    Media Relations
    media@tcenergy.com
    403.920.7859 or 800.608.7859

    Investor & Analyst Inquiries:
    Gavin Wylie / Hunter Mau
    investor_relations@tcenergy.com
    403.920.7911 or 800.361.6522


    1 Build multiple is a non-GAAP ratio calculated by dividing capital expenditures by comparable EBITDA. Please note our method for calculating build multiple may differ from methods used by other entities. Therefore, it may not be comparable to similar measures presented by other entities. For more information on non-GAAP measures and the supplementary financial measure, refer to the Non-GAAP and Supplementary financial measure section of this news release.
    2 Prior year results have been recast to reflect the Liquids Pipelines business as a discontinued operation as a result of the Spinoff Transaction.
    3 Comparable EBITDA, comparable earnings and comparable earnings per common share are non-GAAP measures used throughout this news release. These measures do not have any standardized meaning under GAAP and therefore are unlikely to be comparable to similar measures presented by other companies. The most directly comparable GAAP measures are Segmented earnings, Net income attributable to common shares and Net income per common share, respectively. We do not forecast Segmented earnings. For more information on non-GAAP measures, refer to the Non-GAAP Measures section of this news release.
    4 Based on USD/CAD foreign exchange rate of 1.35.
    5 Net capital expenditures are adjusted for the portion attributed to non-controlling interests and is a supplementary financial measure used throughout this news release. For more information on non-GAAP measures and the supplementary financial measure, refer to the Non-GAAP and Supplementary financial measure section of this news release.
    6 Source: Government of Mexico, CFE fourth quarter 2024 investor presentation
    7 Source: Ontario Independent Electricity System Operator (IESO)

    The MIL Network

  • MIL-OSI USA: Governor Newsom announces launch of new AI tool to supercharge the approval of building permits and speed recovery from Los Angeles Fires

    Source: US State of California 2

    Apr 30, 2025

    What you need to know: The state of California is providing LA City and County a new AI-powered e-check software free of charge to speed the pace at which local governments are approving building permits.

    LOS ANGELES – Leveraging the power of private sector innovation, Governor Gavin Newsom today announced the launch of a new artificial intelligence-driven software to aid Los Angeles City and County in accelerating the approval process for rebuilding permits to help communities recover more quickly from the Eaton and Palisades fires. 

    “The current pace of issuing permits locally is not meeting the magnitude of the challenge we face. To help boost local progress, California is partnering with the tech sector and community leaders to give local governments more tools to rebuild faster and more effectively.”

    Governor Gavin Newsom

    The software, created by Archistar, will be provided free of charge to the local governments and to users through a partnership between the state and philanthropic partners including LA Rises and Steadfast LA with contributions from Autodesk and Amazon.

    “Bringing AI into permitting will allow us to rebuild faster and safer, reducing costs and turning a process that can take weeks and months into one that can happen in hours or days,” said Steadfast LA Chairman Rick Caruso. “Working with our coalition partner Mike Hopkins and Amazon, I’m proud Steadfast LA identified Archistar as the right company to develop and apply this game-changing technology. Now we can work with great philanthropic organizations, including LA Rises, to provide this critical tool at no cost to taxpayers. We will continue bringing forward new technology and ideas to cut through red tape and expedite this recovery.”

    While the state has no direct role in the local permit approval process, Governor Newsom has worked aggressively to cut red tape, remove obstacles, and provide every available resource to local governments so they can fast-track permits and rebuild quickly. 

    The software uses computer vision, machine learning, and automated rulesets to instantly check designs against local zoning and building codes in the assessment process for building permits. This technology will allow property owners to pre-check their building plans before submission to ensure they submit valid plans, thus avoiding frustrating delays and expediting the review process once received by city or county staff.

    Once fully implemented by local leaders, this e-check tool will improve efficiency, accuracy, transparency, and speed of the rebuilding process from the Eaton and Palisades fire while also improving the experience for disaster survivors.

    “Getting residents home quickly and safely is my top priority,” said Los Angeles Mayor Karen Bass. “Last week, I signed an Executive Directive to spearhead an AI pilot program to streamline the permitting process for Palisades residents. With the announcement of this AI solution, we’re infusing new technologies into City Hall processes to ensure nothing stands in the way of families getting home – and to keep our recovery effort on track to be the fastest in modern California history. I thank Governor Newsom and our County partners for their collaboration on this exciting effort.”

    The County of Los Angeles has also committed to using the software and passed a Board Resolution to establish a unified permitting authority for the Altadena one-stop recovery center.

    “I’m excited to see Los Angeles County embrace innovative technology like Archistar to accelerate the rebuilding process in Altadena and neighboring communities recovering from the Eaton Fire,” said Los Angeles County Board of Supervisors Chair Kathryn Barger. “This AI tool has the potential to save homeowners valuable time by helping them submit code-compliant plans from the start. I appreciate Governor Newsom’s stewardship of this opportunity and SoCal Grantmakers for their fiduciary support. Their help—along with collaboration from our County’s permitting departments—helped make this opportunity possible. Our collective work will help ensure we’re delivering real, efficient solutions to those working hard to rebuild their lives. Our wildfire survivors deserve nothing less.”

    “Together, government and philanthropy are standing with our community to ensure a safe, swift, and lasting recovery from the Palisades and Eaton Fires,” said Supervisor Lindsey P. Horvath. “With new AI-powered tools and LA County’s One-Stop Permitting Centers, we’re cutting red tape to help residents rebuild and return home sooner. I’m grateful to Governor Newsom, Steadfast LA, and LA Rises for their investment in our recovery.”

    The technology is already being used by more than 25 forward-looking municipalities across the United States, Canada, and Australia, including cities like Vancouver, Austin, Houston and Seattle as well as states like Colorado, British Columbia (Canada) and New South Wales (Australia). In addition to providing the software free of charge in Los Angeles, the tool is now available on a statewide contract that any local government can now access quickly to streamline their own plan review process. 

    Today’s announcement is part of a broader effort to cut red tape and harness innovation in the LA fire recovery process. 

    Cutting red tape

    Governor Newsom issued an executive order to streamline the rebuilding of homes and businesses destroyed — suspending permitting and review requirements under the California Environmental Quality Act (CEQA) and the California Coastal Act. The Governor also issued an executive order further cutting red tape by reiterating that permitting requirements under the California Coastal Act are suspended for rebuilding efforts and directing the Coastal Commission not to issue guidance or take any action that interferes with or conflicts with the Governor’s executive orders. Additionally, he signed an executive order to cut more red tape and continue streamlining rebuilding, recovery, and relief for survivors. The Governor also issued an executive order removing bureaucratic barriers, extending deadlines, and providing critical regulatory relief to help fire survivors rebuild, access essential services, and recover more quickly.

    Efficient, engaged, effective

    Since the start of his administration in 2019, Governor Newsom has made efficiency and engagement a top priority, implementing new technologies and practices that make government more efficient and responsive to the people it serves. In 2019, the Governor established the Office of Data Innovation to help advance this important work. 

    As the birthplace of tech, California is at the forefront in the study and implementation of AI in government. In 2023, Governor Newsom issued an executive order directing state agencies to utilize Generative AI technologies to improve state services and help solve important issues. Since that time, the state has integrated AI and other efficiency solutions to make state government work faster and even more effective.

    To help provide the Los Angeles community with a stronger voice in the rebuilding and recovery efforts, Governor Newsom launched Engaged California, a new platform that gives Californians a unique opportunity to share their thoughts and connect with other people on topics that are important to them. It creates new opportunities for Californians to connect with their government to inform and shape policy through honest, respectful discussions.

    The program was launched in February with the first use case focusing on the impacts of the Los Angeles wildfires.
     

    Partnerships Key 

    Today’s announcement was made possible through partnerships with philanthropic and community organizations who are aiding wildfire recovery in Los Angeles.

    Autodesk is a global leader in design and make technology, empowering innovators across architecture, engineering, construction, product design, manufacturing, and media.

    Steadfast LA is a civic nonprofit organization dedicated to accelerating the rebuilding of Los Angeles after the devastating wildfires by bringing together top leaders, bold ideas, and effective solutions to get things done right and fast.

    LA Rises is a unified recovery initiative that brings together private sector leaders to support rebuilding efforts led by the city of Los Angeles, Los Angeles County and the State of California. In January, the Governor enlisted Dodgers Chairman Mark Walter, business leader and basketball legend Earvin “Magic” Johnson, and Casey Wasserman, LA28 Chairperson and President to lead and recruit others to this private sector and philanthropic effort.

    Track LA’s recovery, including the latest air quality results, at CA.gov/LAfires.

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  • MIL-OSI USA: Governor Newsom announces appointments 4.29.25

    Source: US State of California 2

    Apr 29, 2025

    SACRAMENTO – Governor Gavin Newsom today announced the following appointments:

    Kristina “Kris” Thayer, of Raleigh, North Carolina, has been appointed Director of The Office of Environmental Health Hazard Assessment. Thayer has been Director of the Director of the Integrated Risk Information System Division at the United States Environmental Protection Agency since 2019, where she has held multiple positions since 2017, including Director of the Integrated Risk Information System and Director of the Chemical and Pollution Assessment Division. She held multiple positions at the National Toxicology Program at the National Institute of Environmental Health Sciences from 2003 to 2017, including Deputy Director of the Division of Analysis, Director of the Office of Health Assessment and Translation, Director of the Center for the Evaluation of Risks to Human Reproduction, Staff Scientist at the Center for the Evaluation of Risk to Human Reproduction, Deputy Director of the Office of Risk Assessment Research, and Staff Scientist in the Office of Liaison and Scientific Review. Thayer is a member of the Society of Toxicology. She earned a Doctor of Philosophy degree in Biological Sciences from the University of Missouri, Columbia and a Bachelor of Science degree in Psychology from Pennsylvania State University, University Park. This position requires Senate confirmation, and compensation is $217,000. Thayer is a Democrat.

    Jason D. Johnson, of Redlands, has been appointed Undersecretary of Operations at the California Department of Corrections and Rehabilitation. Johnson has been Acting Undersecretary of Operations since 2024 at the California Department of Corrections and Rehabilitation, where he has held several positions since 2006, including Director of the Division of Adult Parole Operations, Chief Deputy Regional Administrator, Parole Administrator I, Parole Agent III Supervisor, Parole Agent II Supervisor, and Parole Agent I. Johnson was a Probation Officer II at San Bernardino County Probation Department from 2001 to 2006. He is a member of the Los Angeles County Police Chiefs’ Association, the Orange County Chiefs’ and Sherriffs’ Association, and the National Association of Blacks in Criminal Justice. Johnson earned a Master of Business Administration from the University of Redlands and a Bachelor of Arts in Criminal Justice from California State University, Fullerton. This position requires Senate confirmation, and the compensation is $239,796. Johnson is a Democrat.

    Joshua Prudhel, of Ceres, has been appointed Warden of Sierra Conservation Center, where he has been serving as Acting Warden since 2024. Prudhel was Chief Deputy Administrator at California State Prison, Sacramento from 2022 to 2024. He was a Correctional Administrator at California State Prison, Corcoran in 2022. Prudhel was Acting Chief Deputy Administrator at Correctional Training Facility from 2021 to 2022. He was a Correctional Administration at California State Prison, Corcoran from 2020 to 2021. Prudhel was Captain at California Health Care Facility from 2016 to 2020, where he was previously a Correctional Lieutenant from 2014 to 2016. He was a Correctional Lieutenant at California State Prison, Corcoran from 2011 to 2014, where he was previously a Correctional Sergeant from 2008 to 2011. Prudhel was a Correctional Sergeant at Deuel Vocational Institution from 2007 to 2008, and at Correctional Training Facility from 2005 to 2007. He was a Correctional Officer at San Quentin Rehabilitation Center from 2003 to 2005, and at Richard A. Mcgee Correctional Training Center from 2002 to 2003. Prudhel is a member of the California Correctional Supervisors Organization. This position does not require Senate confirmation, and the compensation is $193,524. Prudhel is a Republican.

    Megan Mekelburg, of Sacramento, has been appointed Deputy Secretary for Legislation at the California Natural Resources Agency. Mekelburg has been Deputy Appointments Secretary in the Office of Governor Gavin Newsom since 2024. She was Senior Associate at Environmental & Energy Consulting from 2023 to 2024. Mekelburg was Legislative Director in the Office of Senator Aisha Wahab in the California State Senate in 2023. She held multiple roles in the Office of Senator Josh Newman in the California State Senate from 2021 to 2023, including Legislative Director and Acting Chief of Staff. Mekelburg held multiple roles in the Office of Senator Henry Stern in the California State Senate from 2019 to 2021, including Legislative Aide and Executive Assistant. She earned a Master of Arts degree in Public Policy and Administration from California State University, Sacramento and a Bachelor of Arts degree in Sociology from University of California, Davis. This position does not require Senate confirmation, and the compensation is $160,008. Mekelburg is a Democrat.

    Matthew Sage, of Fair Oaks, has been appointed Commander of the State Threat Assessment Center at the Governor’s Office of Emergency Services. Sage has been the Deputy Commander of Intel/Analysis at the Governor’s Office of Emergency Services since 2023. He was an Account Executive at Echo Analytics Group from 2021 to 2022. He was a Supervisory Intelligence Specialist at the Department of the Army from 2015 to 2021. Sage was an Operations and Integrations Officer at Dyncorp International from 2012 to 2015. He was a Staff Officer at Sytera LLC. from 2011 to 2012. Sage was an Atmospherics Manager at AECOM/McNeill Technologies in 2011. He served as rank E-5 in the United States Army from 2006 to 2010. This position does not require Senate confirmation, and the compensation is $161,062. Sage is registered without party preference.

    Davina Hurt, of Belmont, has been appointed to the California Water Commission. Hurt has been the California Climate Policy Director at Pacific Environment since 2025. She was an Attorney/Civic Advocate at Davina Hurt Esq. from 2005 to 2024. Hurt held multiple positions with the City of Belmont from 2015 to 2024, including Mayor, Vice Mayor, and City Councilmember. She was a Campaign Manager at the Democratic Volunteer Center from 2014 to 2015. Hurt was a Securities Case Assistant at Heller Ehrman White and McAuliffe LLP from 2004 to 2005. She was a Senior Counsel and Civic Advocate at Tyson and Mendes LLP in 2004. Hurt was a Law Clerk at Bay Area Legal Aid from 2002 to 2004. She was a Law Clerk at the United States District Court for Northern District of California from 2002 to 2003. Hurt was a Summer Associate at Milberg, Weiss, Bershad, Hynes & Lerach LLP in 2002. She earned a Juris Doctor Degree from Santa Clara University School of Law and a Bachelor of the Arts degree in History and Political Science from Baylor University. This position requires Senate confirmation, and compensation is $100 per diem. Hurt is a Democrat.

    Peter Stern, of San Francisco, has been appointed to the California Horse Racing Board. Stern has been Chief Revenue Officer at Skedulo and an Advisor at Berkeley SkyDeck since 2025. He held several roles at Authorium from 2024 to 2025, including Advisor and Executive Vice President. He was the Co-Founder of VoiceBrain from 2021 to 2023. He was a Commissioner at California State Lottery Commission from 2019 to 2022. He held several positions at Inxeption from 2017 to 2021, including Executive Vice President of Business Operations and Senior Vice President of Corporate Development. Stern was the Airport Commissioner at the San Francisco International Airport from 2010 to 2019. He was Chief Revenue Officer at Skedulo from 2015 to 2017. Stern was the Chief Revenue Officer at Autopilot from 2013 to 2015. Stern was the Vice President of Sales at Kenandy, Inc. from 2011 to 2013. He held numerous positions at Salesforce from 2007 to 2011, including Vice President of Enterprise Corporate Sales and Corporate Sales Manager. Stern was Regional Manager at Oracle from 2005 to 2007. He was an Account Executive at Macromedia from 2002 to 2004. Stern was an Account Executive at Oracle from 2000 to 2000. This position requires Senate confirmation, and the compensation is $100 per diem. Stern is registered without party preference.

    Dyan Whyte, of Berkeley, has been appointed to the California State Mining and Geology Board. Whyte has been the Chief Financial Officer at Dataway US since 2019. She held multiple positions at the California Regional Water Quality Control Board, San Francisco Bay Region from 1988 to 1999, including Assistant Executive Officer and Senior Engineering Geologist. Whyte earned a Master of Science degree in Environmental Geology from University of California, Berkeley and a Bachelor of Science degree in Environmental Studies and Geology from California State University, Sonoma. This position requires Senate confirmation, and the compensation is $100 per diem. Whyte is a Democrat.

    Press Releases, Recent News

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  • MIL-OSI USA: Governor Newsom deploys first-in-the-nation GenAI technologies to improve efficiency in state government

    Source: US State of California 2

    Apr 29, 2025

    What you need to know: California continues to improve efficiency and engagement in state government by advancing its first-in-the-nation project to integrate cutting-edge artificial intelligence technology into state operations.

    Los Angeles, California – California continues to implement Governor Gavin Newsom’s Executive Order on Generative Artificial Intelligence (GenAI), today with Governor Newsom announcing the state has entered into three new agreements to utilize GenAI to reduce highway congestion, improve roadway safety, and enhance customer service in a state call center. 

    The announcement today, made at Accenture headquarters in Los Angeles, is part of Governor Newsom’s ongoing strategy to implement technologies and practices that make state operations more efficient and responsive to the people it serves. In 2023, Governor Newsom issued an executive order directing state agencies to utilize GenAI technologies to improve state services and help solve important issues. Since that time, the state has integrated AI and other efficiency solutions to make state government work faster and even more effective.

    GenAI is here, and it’s growing in importance every day. We know that state government can be more efficient, and as the birthplace of tech it is only natural that California leads in this space. In the Golden State, we know that efficiency means more than cutting services to save a buck, but instead building and refining our state government to better serve all Californians.

    Governor Gavin Newsom

    Leading in efficiency 

    California is leading in the effort to implement AI and other technologies into state government operations, quickly adopting projects through its new innovative procurement method, Request for Innovative Ideas (RFI2). RFI2 allows the state to quickly test technology through safe and secure environments, providing the state and the innovator community valuable insights while protecting state data. RFI2 was adopted by the state in 2019, after Governor Newsom sought to improve the onerous state purchasing process and help the state to more efficiently adopt these new technologies.

    Leading in engagement

    Governor Newsom has also implemented new technologies through the Office of Data and Innovation, including the groundbreaking new Engaged California project. This first-in-the-nation digital democracy platform is currently being used to help the community in the Los Angeles wildfire recovery. Today, Governor Newsom will also host a roundtable event in the LA area to meet with stakeholders integral in the Engaged California project — and to discuss projects for expansion statewide. 

    “We are committed to harnessing the latest technologies to better serve Californians. With GenAI, we’re improving government service while also showing the benefits this California-based industry can bring to governments all over the world.” California Government Operations Agency Secretary Nick Maduros

    Projects moving forward today include:

    GenAI to reduce highway congestion 

    The California Department of Transportation (Caltrans) released a problem statement to process and interpret complex data to improve its traffic pattern analysis, address bottlenecks, and enhance overall traffic management. To solve this issue, Azure Open AI, GenAI technology developed by Microsoft and utilized by Accenture, LLP, used a vast amount of data from authentic, well-recognized sources to analyze potential transportation scenarios and develop solutions, including reducing traffic congestion, enhancing incident response, and improving transit reliability. 

    The next phase of this project will analyze real-time and historical data from roadways to predict traffic bottlenecks, detect incidents faster, and identify locations for safety enhancements. This cutting-edge solution will empower Caltrans to improve mobility and reduce traffic delays across the state.

    “California is a global leader in GenAI innovation, and the signing of these contracts provides the state an essential tool to help solve some of our most pressing transportation challenges. Under Governor Newsom’s leadership, California is enthusiastically advancing this cutting-edge technology and will now harness its power to help save lives and streamline mobility for all people.” California Transportation Secretary Toks Omishakin 

    GenAI for traffic safety 

    Caltrans will also be using GenAI to investigate near misses of injuries/fatalities to identify risky areas and monitor interventions designed to increase safety of vulnerable road users, including bike riders and pedestrians. Under the contract, Deloitte Consulting, LLP used Gemini GenAI technology to help identify high-collision locations and recommended targeted safety improvements across the highway system to proactively address road safety risks — especially for vulnerable road users. 

    By analyzing various datasets—including crash records, roadway conditions, and equity indicators—GenAI uncovered patterns, prioritized safety interventions, and delivered data-driven insights to help the department better protect all Californians on the road. In the next phase, the tool will expand upon the datasets to better identify and address locations in need of safety upgrades which will be evaluated by the department prior to taking any actions. 

    “These historic contracts exemplify Caltrans’ commitment to innovation and being a national leader in adopting new technologies to improve lives and communities. Using GenAI through smart, responsible implementation will be a game changer in developing solutions to ease traffic gridlock and reduce deaths and serious injuries on our roadways.” Caltrans Director Tony Tavares

    GenAI to enhance customer service

    The California Department of Tax and Fee Administration (CDTFA) will use GenAI to swiftly search more than 16,000 pages of reference materials and assist staff in providing responses to taxpayers via telephone and live chat. 

    During a pilot project carried out over the last 10 months, Claude, a next-generation AI assistant developed by Anthropic, was utilized by Symsoft Solutions LLC to reduce the time it takes to handle an average CDTFA customer inquiry. Typically, during peak tax filing periods, an additional 280 staff from throughout the department are temporarily reassigned to provide backup to the call center. With this new technology, CDTFA will be able to continue providing excellent customer service while limiting the need for disruptions from staff reassignments. 

    “California is demonstrating that GenAI can help us improve the way we do business for Californians.  This project will serve as a proof point moving forward to see if we can scale this technology across state government call centers.” CDTFA Director Trista Gonzalez.

    GenAI, the California way

    California will continue to implement GenAI for the benefit of all Californians, presenting additional challenges and calling for new GenAI projects by AI innovators. The second round brings the state closer to possibly using GenAI for operational efficiencies in housing, workforce planning, and bill analysis. The work is ongoing, and the state anticipates wrapping up this second round by summer 2025.  

    For more information about why California is the home of GenAI, visit GenAI.ca.gov.

    GenAI for productivity

    Also in response to the Governor’s executive order to help implement AI solutions to make state government more efficient, effective, and productive, the state is now implementing additional AI solutions for state departments. The state recently launched a first-in-the-nation State Digital Assistance AI tool through the California Department of Technology, which will be provided to eight state departments through a pilot program. The departments will utilize the tool through a pilot program to test how GenAI can help increase productivity by assisting staff to quickly develop images, and summarize and analyze state data.

    California has also rolled out Microsoft 365 Copilot chat for state departments, which is being offered at no cost to the state for the pilot period. Copilot Chat is a GenAI assistant to enhance staff productivity by streamlining information analysis, assisting with content creation, answering questions, and more. 

    Harnessing the power of AI

    AI is already changing the world, and California will play a pivotal role in defining that future. Home to Silicon Valley and the birthplace of the tech industry, California continues to dominate as the leader in AI. The state is home to 32 of 50 top AI companies worldwide.

    In addition to California’s efforts to deploy GenAI in state government, Governor Newsom co-hosted a GenAI summit in May 2024 with leaders across academia, industry, civil society, and government to discuss how the state can best use this transformative technology on behalf of Californians. 

    First of-its-kind effort with NVIDIA

    In August 2024, the state partnered with NVIDIA to launch a first-of-its-kind AI collaboration. The initiative, signed by Governor Gavin Newsom and NVIDIA founder & CEO Jensen Huang, aims to train students, educators and workers; support job creation and promote innovation; and use AI to solve challenges that can improve the lives of Californians.

    Staying ahead of threats 

    Last year, Governor Newsom also signed a series of bills to crack down on sexually explicit deepfakes and require AI watermarking, protect performers’ digital likenesses, and combat deepfake election content.

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  • MIL-OSI USA: California sues Trump administration for dismantling AmeriCorps

    Source: US State of California 2

    Apr 29, 2025

    What you need to know: California is filing a lawsuit today against the Trump administration for dismantling AmeriCorps, which puts service and volunteer programs across the country and in California at risk.

    SACRAMENTO — Today, Governor Gavin Newsom and Attorney General Rob Bonta announced that California, along with other states, is suing the Trump administration over recent DOGE efforts to dismantle AmeriCorps – the federal agency vital to supporting volunteer and service efforts in California and across the country.  

    As the federal government cuts AmeriCorps programs, the state is recruiting for the California Service Corps program — already the largest service corps in the nation, surpassing the size of the Peace Corps.

    Service sits at the very core of who we are as Americans. California is suing the Trump administration to defend thousands of hardworking service members and the communities they serve.

    These actions by President Trump and Elon Musk not only threaten our funding – they vandalize our values. We’re going to fight to stop them.

    Governor Gavin Newsom

    In the complaint today, the Attorney General Bonta and a multistate coalition argue that by abruptly canceling critical grants and gutting AmeriCorps’ workforce, the Trump Administration is effectively shuttering the national volunteer agency and ending states’ abilities to support AmeriCorps programs within their borders. 

    “AmeriCorps volunteers bring out the best in America and in our communities. By abruptly canceling critical grants and gutting AmeriCorps’ workforce and volunteers, DOGE is dismantling AmeriCorps without any concern for the thousands of people who are ready and eager to serve their country — or for those whose communities are stronger because of this public service,” said Attorney General Bonta. “In California, AmeriCorps volunteers build affordable housing, clean up our environment, and address food insecurity in communities across our state. California has repeatedly taken action to hold the Trump Administration and DOGE accountable to the law — and we stand prepared to do it again to protect AmeriCorps and the vital services it provides.”

    In 2024, at least 6,150 California members served at more than 1,200 locations, including schools, food banks, homeless shelters, health clinics, youth centers, veterans’ facilities, and other nonprofit and faith-based organizations. When the devastating fires struck Los Angeles earlier this year, AmeriCorps members were on the ground, distributing supplies and supporting families. The agency’s shutdown ends these efforts.

    “DOGE isn’t just cutting jobs — they’re attacking the very people who keep California strong,” said GO-Serve Director Josh Fryday. “They’re coming after the service members who responded to the LA fires, the tutors helping our kids and the young leaders caring for our seniors. It’s outrageous, it’s illegal and we won’t back down. In California, we’re not just defending service — we’re strengthening it. California is doubling down, and we trust the courts will strike this down and uphold the values we fight for every day.” 

    California Service Corps is the largest service force in the nation, consisting of four paid service programs:   

     Combined, it is a force larger than the Peace Corps and is mobilized at a time when California is addressing post-pandemic academic recovery, rebuilding from the LA fires and planning for the future of the state’s workforce. 

    In the 2023-24 service year, AmeriCorps members in California: 

    • Provided 4,397,674 hours of service
    • Tutored/mentored 73,833 students
    • Supported 17,000 foster youth with education and employment 
    • Planted 39,288 trees

    Members helped 26,000 households impacted by the LA fires and packed 21,000 food boxes.

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  • MIL-OSI China: Millennium-old sites on Silk Road open in China, offer gateway to history

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

    LANZHOU, May 1 — Two major archaeological sites along the ancient Silk Road opened to the public in northwest China on Thursday, the first day of the May Day holiday, offering new choices for travelers keen to explore the exchanges between Eastern and Western civilizations over a millennium ago.

    One of these newly opened sites, the Tuyugou Grottoes, is located in the city of Turpan, Xinjiang Uygur Autonomous Region. This complex, built around the fifth century, boasts 157 caves carved into cliffs, three temples and nine pagodas.

    Five caves and a Buddhist temple at the grottoes have opened to the public, offering 300 visitor slots per day, said Liu Yi, a cultural relics preservation official of Turpan’s cultural heritage bureau.

    Ten archaeological excavations since 2010 at the site have unearthed abundant artifacts, including Buddhist scriptures in multiple languages as well as documents like taxation records and loan contracts.

    China has invested more than 77 million yuan (about 10.7 million U.S. dollars) in restoring and reinforcing these grottoes in recent years.

    “The Tuyugou Grottoes are a vivid testimony to the cultural and religious exchanges in the Turpan Basin,” said Xia Lidong, associate researcher at the Institute of Archaeology, Chinese Academy of Social Sciences.

    The ruins of Xuanquanzhi in the city of Dunhuang, Gansu Province, also opened to the public on Thursday.

    Dating back some 2,000 years to the Western Han Dynasty, the site back then served as a comprehensive post station for mail and information deliveries, as well as the reception of messengers, officials and foreign guests. It is one of the Silk Road sites that were added to the UNESCO World Heritage List in 2014.

    Following excavations in the early 1990s, the site was accessible only to research teams. Thanks to investments totaling over 309 million yuan, China strengthened preservation of the site and developed tourism facilities.

    “Through its remarkable efforts in cultural preservation, China has reminded the world that heritage is not static. It lives, breathes and teaches,” said Qaiser Nawab, chairman of the Belt and Road Initiative for Sustainable Development.

    Addressing the needs of international tourists, the site’s guiding and interpretation services are available in multiple languages.

    Samuel Fanning, a tourist and history lover from Canada, was attracted by Turpan’s ancient architecture.

    “I planned to stay in Xinjiang for seven days, but it will end up being 12 days. I think this can speak to how enjoyable it is to visit here,” Fanning said, adding that he will also visit Dunhuang.

    Qiu Jian, head of the Gansu provincial cultural heritage bureau, revealed that global interest in the ancient Silk Road is steadily rising.

    “Through the gradual opening of more cultural heritage sites, we aim to present an overall and more diverse picture of the Silk Road culture to the public,” said Qiu.

    MIL OSI China News

  • MIL-Evening Report: Tourism to the US is tanking. Flight Centre is facing a $100m hit as a result

    Source: The Conversation (Au and NZ) – By Anita Manfreda, Senior Lecturer in Tourism, Torrens University Australia

    Doubletree Studio/Shutterstock

    Flight Centre, one of the world’s largest travel agencies, has warned it could lose more than A$100 million in earnings this year, citing weakening demand for travel to the United States.

    In a statement to the Australian Securities Exchange (ASX) this week, the company pointed to “volatile trading conditions” linked to changes in US entry policies.

    This is the first major indication from an Australian company that travel to the US is becoming a serious concern. It follows growing consumer fears linked to US immigration checks, reports of tourists being detained, and rising costs.

    Australian visitor numbers to the US fell by 7% in March compared with the same time last year – the sharpest fall since the COVID pandemic.

    Australians are not the only ones staying away. New US data for March show sharp drops in visitors from key markets: Germany (down 28%), Spain (25%), the United Kingdom (18%) and South Korea (15%), to name a few. In total, inbound tourism fell 11.6%.

    Even Canadian travellers, traditionally the US’s most reliable market, dropped by more than 900,000 or 17% in March, as growing numbers of Canadians opt to boycott US holidays.

    What was once a reliable flow of high-spending international travellers is becoming a much quieter stream.

    America’s welcome mat is wearing thin

    The US, long marketed as the land of opportunity and adventure, is increasingly perceived as unwelcoming. Tighter border scrutiny, aggressive immigration enforcement, and a sharp shift in political tone have made travellers wary.

    The international arrivals terminal at Atlanta airport: Tourists are rethinking their US travel plans.
    Shutterstock

    While the Flight Centre statement used careful language, its chief executive Graham Turner was clear, saying:

    People from Europe, the United Kingdom and Australia really don’t want to go to the States, given what’s happening there. We’re hearing more and more people don’t want to go through passport control.

    Reports of tourists being detained, shackled and deported at US airports over minor alleged visa issues or misunderstandings have circulated widely. In some cases, visitors have had their phones and electronic devices searched without clear cause. For many travellers, that is a risk not worth taking.

    Governments have started to respond. Several countries, including New Zealand, Germany, France, Denmark and Finland, have updated their official travel advice for the US, urging citizens to exercise caution when visiting. The message filtering through international media is clear: the US is not as easy, safe or welcoming as it once seemed.

    But while diplomatic warnings grow louder, the economic costs of America’s hardening stance are only beginning to register.

    Tourism: America’s forgotten export

    While President Donald Trump has slapped tariffs on goods imports from most countries, he has ignored the contribution of services trade to the economy. The US actually runs a surplus in services such as education and tourism. Trump has dismissed the decline in visitors as “not a big deal”.

    The trade wars have focused on goods – cars, steel, farm products – but the service sector, which makes up a larger share of the economy, bears the hidden costs.

    Tourism is the US’ biggest service export, contributing more than US$2.3 trillion to the economy and one in ten jobs. That’s a bigger contribution than manufacturing jobs, which account for about 8% of total US employment.

    As a driver of economic prosperity, tourism isn’t simply about leisure; it sustains local businesses, rural economies and millions of livelihoods.

    A double blow to the tourism experience

    While the decline in arrivals has been widely reported, the experience for those who still choose to visit is also likely to change.

    Tourism relies on global supply chains, from food to hotel amenities to rental car fleets. Trade war tariffs have raised input costs across the board. Hotels, restaurants, airlines and attractions are passing those higher costs onto customers.

    Miami Beach, Florida: Tourism accounts for one in ten American jobs.
    MDV Edwards/Shutterstock

    Labour shortages are intensifying the problem. Nearly 20% of the US hospitality workforce was born overseas. Cuts to seasonal work visas and heightened deportation fears have left many businesses struggling to find staff, compounding existing labour shortages.

    The burden is heaviest on small- and medium-sized enterprises, which form the bedrock of the US economy and play a central role in accommodation, dining and local tourism experiences.

    A quiet but costly erosion

    Tourism is not just a big part of the economy; it’s also a soft power, shaping how the world perceives a nation through its culture, values and hospitality.

    Every visitor who feels unwelcome, scrutinised or disappointed is not just a lost sale, but a lost connection.

    Research group Tourism Economics forecasts the US could lose up to US$10 billion in international travel spending in 2025 if current trends continue.

    And while manufacturing job announcements grab headlines, the slow erosion of America’s tourism brand may leave a longer, deeper scar on its culture, its communities and its place in the world.

    The Flight Centre downgrade is not an isolated warning. It is a symptom of a broader shift, one that risks turning visitors away for good.

    And for thousands of US businesses, workers and communities – and now Australian ones too – the losses may not be so easily shrugged off.

    The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    ref. Tourism to the US is tanking. Flight Centre is facing a $100m hit as a result – https://theconversation.com/tourism-to-the-us-is-tanking-flight-centre-is-facing-a-100m-hit-as-a-result-255498

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI USA: Rosen Votes to Reverse Trump’s Cost-Spiking Tariffs, Extreme Republicans Block It

    US Senate News:

    Source: United States Senator Jacky Rosen (D-NV)
    WASHINGTON, DC – Today, U.S. Senator Jacky Rosen (D-NV) voted to pass a bipartisan Congressional resolution to reverse Trump’s chaotic, across-the-board tariffs on goods from around the world that have raised prices for families and hurt Nevada’s businesses and economy. Unfortunately despite these efforts, extreme Republicans voted to block its passage. Since the beginning of his term, Trump has imposed tariffs on nearly every country in the world, creating uncertainty and devastating the economy. Reports today highlighted that, due to Trump’s economic policies, the economy shrank for the first time since 2022.
    “Trump’s reckless, sweeping tariffs are having disastrous effects on hardworking families, small businesses, and Nevada’s tourism economy,” said Senator Rosen. “These tariffs are not only raising the costs of everyday essentials, they are also squeezing families’ budgets and leading to lower visitation numbers for tourist destinations like Las Vegas. I voted to pass this bipartisan resolution in the Senate to reverse Trump’s tariffs, and I’m extremely disappointed that my Republican colleagues decided to block it. I won’t stop fighting against this Administration’s chaotic policies that hurt hardworking families.”
    In the Senate, Senator Rosen has been fighting back against President Trump’s reckless tariffs and the destructive impacts they’re having on Nevada’s economy. Earlier this month, she visited Orucase, a local outdoor recreation small business in Reno, to discuss how President Trump’s across-the-board tariffs are harming Nevada’s economy. Rosen also recently led Senate colleagues in demanding that the Trump Administration reverse course on tariffs and provide relief for small businesses. Additionally, Senator Rosen helped pass a resolution in the Senate to overturn Trump’s tariffs on Canada.

    MIL OSI USA News

  • MIL-OSI USA: SPC May 1, 2025 0100 UTC Day 1 Convective Outlook

    Source: US National Oceanic and Atmospheric Administration

    SPC AC 010058

    Day 1 Convective Outlook
    NWS Storm Prediction Center Norman OK
    0758 PM CDT Wed Apr 30 2025

    Valid 010100Z – 011200Z

    …THERE IS A SLIGHT RISK OF SEVERE THUNDERSTORMS TONIGHT ACROSS
    PARTS OF SRN AND ERN TX…NRN LA…ERN AR…NWRN MS…WRN TN…SERN
    MO…SRN IL AND SRN IN…

    …SUMMARY…
    The risk for strong to severe thunderstorm development may continue
    into late evening across parts of the southeastern Great Plains into
    Mid South and lower Ohio Valley, before waning overnight.

    …01Z Update…
    A notable mid-level short wave trough emerging from the Southwest
    has reached the southern Great Plains and is forecast to pivot
    northeastward toward the middle Mississippi Valley overnight,
    downstream of similar amplitude trough digging across the
    Canadian/U.S. border. The lead perturbation has been preceded by
    extensive convection the past day or two across the southern Great
    Plains, which has substantially stabilized the boundary layer across
    much of north Texas and Oklahoma.

    The leading edge of the convective outflow has remained a focus for
    vigorous thunderstorm development. While this boundary may be
    slowing or gradually stalling south of Longview and Temple TX, 3-4+
    mb 2-hourly surface pressure rises are now evident in 00Z surface
    observations in a corridor across the Shreveport LA, El Dorado and
    Little Rock AR vicinities, with more modest falls (1-1.5 mb
    2-hourly) at Memphis TN and Walnut Ridge AR. Based on this, it
    appears that the gust front will advance eastward across the
    Mississippi River through late evening. As it does, it may continue
    to be accompanied by gusts approaching or briefly exceeding severe
    limits, but less unstable updraft inflow probably will gradually
    contribute to weakening convective trends.

    It does appear that at least a modest surface low is in the process
    of forming downstream of the lead short wave trough, across
    southwestern Missouri. As this feature migrates northeastward
    tonight, models indicate that a belt of 30-35+ kt southerly flow
    around 850 mb, now extending across southeastern Texas through the
    Mid South, will shift across the lower Ohio Valley toward the lower
    Great Lakes region. Despite the strengthening wind fields and
    shear, ongoing thunderstorm development near a surface warm front,
    east-northeast of St Louis toward the Cincinnati area, is not
    expected to undergo substantive further intensification, and
    probably will begin to wane as the boundary-layer stabilizes with
    the loss of heating, and better low-level moisture return becomes
    cut off by the progression of the convective outflow to the south.

    Across Texas, weakening wind fields/shear and forcing for ascent
    probably will lead to weakening convective trends by late evening,
    as the boundary-layer stabilizes with the loss of daytime heating.

    ..Kerr.. 05/01/2025

    CLICK TO GET WUUS01 PTSDY1 PRODUCT

    NOTE: THE NEXT DAY 1 OUTLOOK IS SCHEDULED BY 0600Z

    MIL OSI USA News

  • MIL-OSI: Clear Blue Technologies Announces Fiscal 2024 Results & Provides Corporate Update

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, April 30, 2025 (GLOBE NEWSWIRE) — Clear Blue Technologies International Inc. (TSXV: CBLU) (FRANKFURT: OYA), the Smart Power Company, announces its financial results for fiscal 2024 (“F2024”). A complete set of Financial Statements and Management’s Discussion & Analysis (“MD&A”) has been filed at www.sedarplus.ca. All dollar amounts are denominated in Canadian dollars.

    F2024 Financial Results

    • Bookings increased to $5,071,105, an increase of 105%, when compared to $2,469,846 as of December 31, 2023, with delivery anticipated over the next three years.
    • TFQ revenue was $2,758,295, a 49% decrease from $5,403,589 in F2023.
    • TFQ recurring revenue was $759,261 a 2% increase from $747,148 in F2023.
    • TFQ Gross Profit decreased to $1,349,792 compared to $2,471,345 in the comparable period, a 45% decrease. The gross margin percentage increased to 49% from 46% in F2023.
    • Non-IFRS Adjusted EBITDA for the period was ($2,960,457) as compared to ($1,959,397) for the previous period, an 51% degradation from the comparative period of 2023. This was due to the reduced revenue result in 2024 as well as the movement of intangible (R&D) assets from the balance sheet for 2024.
    • Cash as of December 31, 2024, was $339,905 and remained stable thru Q1.
    • As of December 31, 2024, the Company had approximately $1.8M remaining from its IRAP Green Fund contract. At this time, it expects to receive $1.3M of that amount by the end of Q2 2025.

    Corporate Update & Financial Outlook

    The final quarter of 2024 was a very challenging one for Clear Blue. Due to the previously mentioned (Q3MD&A) uncertainty around contracted grant funding from the Canadian Federal Government, the company was forced to make material changes to avoid a catastrophic result.

    The company implemented a series of significant measures to enhance its financial position:

    • The workforce was reduced, and senior personnel accepted substantial reductions in compensation.
    • Cloud operations were moved to open-source platforms to reduce cost.
    • Debt levels were lowered through a successful debt conversion initiative.
    • These outcomes were achieved through comprehensive negotiations with key stakeholders.

    As a result of these actions:

    • The company emerged from a challenging period with a streamlined balance sheet.
    • Cash flow improved, and the company is now positioned for robust growth.
    • In total, cost reductions exceeded $3 million, exclusive of an additional $1 million in interest savings realized through the debt conversion.

    As a result, the Company expects a more balanced cash flow profile in the near term, enabling it to allocate resources toward core growth initiatives and operational execution. The positive impact of these measures is expected to support a trajectory toward sustainable cash generation, while reducing near-term cash repayment obligations. Management remains confident in the Company’s ability to drive further revenue expansion and capitalize on long-term growth opportunities.

    Clear Blue 2.0 – A Strong Foundation for 2025

    Broadly, in this industry, growth has been driven by increased investment in the “Green and AI” sectors, as well as a strong drive to reduce costs and dependence upon diesel fuel. Clear Blue has established relationships with marquee customers across the globe which reduces the dependence on US customers.

    Clear Blue enters 2025 with strong momentum, reporting $5,866,625 in bookings—a 138% increase over 2024

    Over the past six months, the Company has announced three major agreements, further reinforcing its growth trajectory. While Clear Blue is not issuing formal guidance at this time, these projects—combined with a robust sales pipeline across its five-product portfolio—position the Company well to drive revenue growth and achieve positive EBITDA in 2025. “It’s great to get back to selling, forming partnerships, producing, and deploying with customers,” said Miriam Tuerk, CEO of Clear Blue. “Our focus now is to monetize the opportunities ahead and deliver strong results, quarter by quarter.”

    Please join our earnings call Thursday May 1st at 11:00 am EDT to hear more.

    Registration Link

    https://us06web.zoom.us/webinar/register/WN_yLCwKEZnTLKhrAlYtqG51g

    For more information, contact:

    Miriam Tuerk, Co-Founder and CEO
    +1 416 433 3952
    miriam@clearbluetechnologies.com

    www.clearbluetechnologies.com/en/investors

    About Clear Blue Technologies International

    Clear Blue Technologies International, the Smart Off-Grid™ company, was founded on a vision of delivering clean, managed, “wireless power” to meet the global need for reliable, low-cost, solar and hybrid power for lighting, telecom, security, Internet of Things devices, and other mission-critical systems. Today, Clear Blue has thousands of systems under management across 37 countries, including the U.S. and Canada. (TSXV: CBLU) (FRA: 0YA) (OTCQB: CBUTF)

    Legal Disclaimer

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

    This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release. Such securities have not been, and will not be, registered under the U.S. Securities Act, or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or “U.S. Persons”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.

    Forward-Looking Statement

    This press release contains certain “forward-looking information” and/or “forward-looking statements” within the meaning of applicable securities laws. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only Clear Blue’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Clear Blue’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. The forward-looking information contained herein may include, but is not limited to, information concerning financial results and future upcoming contracts.

    By identifying such information and statements in this manner, Clear Blue is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Clear Blue to be materially different from those expressed or implied by such information and statements.

    An investment in securities of Clear Blue is speculative and subject to several risks including, without limitation, the risks discussed under the heading “Risk Factors” in Clear Blue’s listing application dated July 12, 2018. Although Clear Blue has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information and forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended.

    In connection with the forward-looking information and forward-looking statements contained in this press release, Clear Blue has made certain assumptions. Although Clear Blue believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release. All subsequent written and oral forward- looking information and statements attributable to Clear Blue or persons acting on its behalf is expressly qualified in its entirety by this notice.”

    This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release. Such securities have not been, and will not be, registered under the U.S. Securities Act, or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or “U.S. Persons”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.

    The MIL Network

  • MIL-OSI USA: Cortez Masto Joins Bipartisan Effort to Stop President Trump’s Harmful Tariffs, Protect Nevada Businesses

    US Senate News:

    Source: United States Senator for Nevada Cortez Masto

    Washington, D.C. – Today, U.S. Senator Catherine Cortez Masto (D-Nev.) released the following statement after voting to repeal Donald Trump’s reckless, blanket global tariffs that are hurting Nevada small businesses and families. Despite bipartisan support, Senate Republicans blocked the measure.

    “President Trump’s reckless policies are raising costs on hardworking families and threatening Nevada small businesses. While I believe targeted tariffs on our adversaries can be a useful tool to protect American jobs and support our national security, these blanket tariffs do the opposite,” said Senator Cortez Masto. “The president is abusing his power to bypass both Congress and common sense. Today, I joined my colleagues on both sides of the aisle in a vote to rein in Donald Trump, and I’ll continue to fight for our businesses and workers.”

    This resolution received bipartisan support, and if enacted, it would have terminated the emergency that Trump declared, reversed Trump’s new taxes of 10 percent on all imported goods, and ended his threat of additional tariffs of up to 49 percent on products Americans buy from other countries.

    Senator Cortez Masto has continued to push the Trump Administration to address the impacts of Trump’s tariffs on working families and Nevada small businesses. Earlier this month, the Senator wrote a letter to the Administration demanding they provide their plan to mitigate the economic stress caused by the implementation of President Donald Trump’s tariffs and other executive actions. During a Senate Finance Committee hearing, Cortez Masto pressed U.S. Trade Representative Greer about the impacts of President Trump’s blanket tariffs on Nevadans, particularly those employed in the tourism and hospitality industry. The Senator introduced the Tariff Transparency Act to require the U.S. International Trade Commission to publicly investigate how Donald Trump’s recent tariffs on imports from Mexico and Canada will impact the American people.

    MIL OSI USA News

  • MIL-OSI Global: The global costs of the US-China tariff war are mounting. And the worst may be yet to come

    Source: The Conversation – Global Perspectives – By Kai He, Professor of International Relations, Griffith University

    The United States and China remain in a standoff in their tariff war. Neither side appears willing to budge.

    After US President Donald Trump imposed massive 145% tariffs on Chinese imports in early April, China retaliated with its own tariffs of 125% on US goods.

    US Treasury Secretary Scott Bessent said this week it’s up to China to de-escalate tensions. China’s Foreign Ministry, meanwhile, said the two sides are not talking.

    The prospect of economic decoupling between the world’s two largest economies is no longer speculative. It is becoming a hard reality. While many observers debate who might “win” the trade war, the more likely outcome is that everyone loses.

    A convenient target

    Trump’s protectionist agenda has spared few. Allies and adversaries alike have been targeted by sweeping US tariffs. However, China has served as the main target, absorbing the political backlash of broader frustrations over trade deficits and economic displacement in the US.

    The economic costs to China are undeniable. The loss of reliable access to the US market, coupled with mounting uncertainty in the global trading system, has dealt a blow to China’s export-driven sectors.

    China’s comparative advantage lies in its vast manufacturing base and tightly integrated supply chains. This is especially true in high-tech and green industries such as electric vehicles, batteries and solar energy. These sectors are deeply dependent on open markets and predictable demand.

    New trade restrictions in Europe, Canada and the US on Chinese electric vehicles, in particular, have already caused demand to drop significantly.

    China’s GDP growth was higher than expected in the first quarter of the year at 5.4%, but analysts expect the effect of the tariffs to soon bite. A key measure of factory activity this week showed a contraction in manufacturing.

    China’s economic growth has also been weighed down by structural headwinds, including industrial overcapacity (when a country’s production of goods exceeds demand), an ageing population, rising youth unemployment and persistent regional disparities. The property sector — once a pillar of the country’s economic rise — has become a source of financial stress. Local government debt is mounting and a pension crisis is looming.

    Negotiations with the US might be desirable to end the tariff war. However, unilateral concessions on Beijing’s part are neither viable nor politically palatable.

    Regional coordination

    Trump’s tariff wars have done more than strain bilateral relationships; they have shaken the foundations of the global trading system.

    By sidelining the World Trade Organization and embracing a transactional approach to bilateral trade, the US has weakened multilateral norms and emboldened protectionist tendencies worldwide.

    One unintended consequence of this instability has been the resurgence of regional arrangements. In Asia, the Regional Comprehensive Economic Partnership (RCEP), backed by China and centred on the ASEAN bloc in Southeast Asia, has emerged as a credible alternative for economic cooperation.

    Meanwhile, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) continues to expand, with the United Kingdom joining late last year.

    Across Latin America, too, regional blocs are exploring new avenues for integration, hoping to buffer themselves against the shocks of resurgent protectionism.

    But regionalism is no panacea. It cannot replicate the scale or efficiency of global trade, nor can it restore the predictability on which exporters depend.

    Looming dangers

    The greater danger is the world drifting into a Kindleberger Trap — a situation in which no power steps forward to provide the leadership necessary to sustain global public goods, or a stable trading system.

    Economist Charles Kindleberger’s account of the Great Depression remains instructive: it was not the presence of conflict but the absence of leadership that brought about the global economy’s systemic collapse.

    Without renewed global coordination, the economic fragmentation triggered by Trump’s tariff wars could give way to something far more dangerous than a recession – rising geopolitical and military tensions that no region can contain.

    The political landscape is already fraught. The Chinese Communist Party, for instance, has long tethered its legitimacy to the promise of eventual unification with Taiwan. Yet the costs of using force remain prohibitively high.

    Taiwanese President Lai Ching-te’s recent designation of China as a “foreign hostile force” have sharpened tensions. Beijing’s response has been calibrated – military exercises intended more as a warning than a prelude to conflict.

    However, the intensifying trade war with the US may become the final straw that exhausts Beijing’s patience, leaving Taiwan as collateral damage in a US-China final showdown.

    A role for collective leadership

    China alone is neither able nor inclined to assume the mantle of global leadership. Its current focus is more on domestic priorities – sustaining economic growth and managing social stability – than on foreign policy.

    Yet, Beijing can still play a constructive role in shaping the international environment through its cooperation with Europe, ASEAN and the Global South.

    The objective is not to replace American hegemony, but to support a more multi-polar and collaborative system — one capable of sustaining global public goods in an era of uncertainty.

    Paradoxically, a more coordinated effort by the rest of the world may ultimately help bring the US back into the fold. Washington may rediscover the strategic value of engagement — and return not as the sole leader, but as an indispensable partner.

    In the short term, other states may seek to gain an advantage from the great power standoff. But they should remember that what begins as a clash between giants can quickly engulf bystanders.

    In this volatile landscape, the path forward does not lie in exploiting disorder. Rather, nations must cautiously advance the shared interest in restoring a stable, rules-based global order.

    Kai He receives funding from the Australian Research Council.

    ref. The global costs of the US-China tariff war are mounting. And the worst may be yet to come – https://theconversation.com/the-global-costs-of-the-us-china-tariff-war-are-mounting-and-the-worst-may-be-yet-to-come-254583

    MIL OSI – Global Reports

  • MIL-Evening Report: The global costs of the US-China tariff war are mounting. And the worst may be yet to come

    Source: The Conversation (Au and NZ) – By Kai He, Professor of International Relations, Griffith University

    The United States and China remain in a standoff in their tariff war. Neither side appears willing to budge.

    After US President Donald Trump imposed massive 145% tariffs on Chinese imports in early April, China retaliated with its own tariffs of 125% on US goods.

    US Treasury Secretary Scott Bessent said this week it’s up to China to de-escalate tensions. China’s Foreign Ministry, meanwhile, said the two sides are not talking.

    The prospect of economic decoupling between the world’s two largest economies is no longer speculative. It is becoming a hard reality. While many observers debate who might “win” the trade war, the more likely outcome is that everyone loses.

    A convenient target

    Trump’s protectionist agenda has spared few. Allies and adversaries alike have been targeted by sweeping US tariffs. However, China has served as the main target, absorbing the political backlash of broader frustrations over trade deficits and economic displacement in the US.

    The economic costs to China are undeniable. The loss of reliable access to the US market, coupled with mounting uncertainty in the global trading system, has dealt a blow to China’s export-driven sectors.

    China’s comparative advantage lies in its vast manufacturing base and tightly integrated supply chains. This is especially true in high-tech and green industries such as electric vehicles, batteries and solar energy. These sectors are deeply dependent on open markets and predictable demand.

    New trade restrictions in Europe, Canada and the US on Chinese electric vehicles, in particular, have already caused demand to drop significantly.

    China’s GDP growth was higher than expected in the first quarter of the year at 5.4%, but analysts expect the effect of the tariffs to soon bite. A key measure of factory activity this week showed a contraction in manufacturing.

    China’s economic growth has also been weighed down by structural headwinds, including industrial overcapacity (when a country’s production of goods exceeds demand), an ageing population, rising youth unemployment and persistent regional disparities. The property sector — once a pillar of the country’s economic rise — has become a source of financial stress. Local government debt is mounting and a pension crisis is looming.

    Negotiations with the US might be desirable to end the tariff war. However, unilateral concessions on Beijing’s part are neither viable nor politically palatable.

    Regional coordination

    Trump’s tariff wars have done more than strain bilateral relationships; they have shaken the foundations of the global trading system.

    By sidelining the World Trade Organization and embracing a transactional approach to bilateral trade, the US has weakened multilateral norms and emboldened protectionist tendencies worldwide.

    One unintended consequence of this instability has been the resurgence of regional arrangements. In Asia, the Regional Comprehensive Economic Partnership (RCEP), backed by China and centred on the ASEAN bloc in Southeast Asia, has emerged as a credible alternative for economic cooperation.

    Meanwhile, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) continues to expand, with the United Kingdom joining late last year.

    Across Latin America, too, regional blocs are exploring new avenues for integration, hoping to buffer themselves against the shocks of resurgent protectionism.

    But regionalism is no panacea. It cannot replicate the scale or efficiency of global trade, nor can it restore the predictability on which exporters depend.

    Looming dangers

    The greater danger is the world drifting into a Kindleberger Trap — a situation in which no power steps forward to provide the leadership necessary to sustain global public goods, or a stable trading system.

    Economist Charles Kindleberger’s account of the Great Depression remains instructive: it was not the presence of conflict but the absence of leadership that brought about the global economy’s systemic collapse.

    Without renewed global coordination, the economic fragmentation triggered by Trump’s tariff wars could give way to something far more dangerous than a recession – rising geopolitical and military tensions that no region can contain.

    The political landscape is already fraught. The Chinese Communist Party, for instance, has long tethered its legitimacy to the promise of eventual unification with Taiwan. Yet the costs of using force remain prohibitively high.

    Taiwanese President Lai Ching-te’s recent designation of China as a “foreign hostile force” have sharpened tensions. Beijing’s response has been calibrated – military exercises intended more as a warning than a prelude to conflict.

    However, the intensifying trade war with the US may become the final straw that exhausts Beijing’s patience, leaving Taiwan as collateral damage in a US-China final showdown.

    A role for collective leadership

    China alone is neither able nor inclined to assume the mantle of global leadership. Its current focus is more on domestic priorities – sustaining economic growth and managing social stability – than on foreign policy.

    Yet, Beijing can still play a constructive role in shaping the international environment through its cooperation with Europe, ASEAN and the Global South.

    The objective is not to replace American hegemony, but to support a more multi-polar and collaborative system — one capable of sustaining global public goods in an era of uncertainty.

    Paradoxically, a more coordinated effort by the rest of the world may ultimately help bring the US back into the fold. Washington may rediscover the strategic value of engagement — and return not as the sole leader, but as an indispensable partner.

    In the short term, other states may seek to gain an advantage from the great power standoff. But they should remember that what begins as a clash between giants can quickly engulf bystanders.

    In this volatile landscape, the path forward does not lie in exploiting disorder. Rather, nations must cautiously advance the shared interest in restoring a stable, rules-based global order.

    Kai He receives funding from the Australian Research Council.

    ref. The global costs of the US-China tariff war are mounting. And the worst may be yet to come – https://theconversation.com/the-global-costs-of-the-us-china-tariff-war-are-mounting-and-the-worst-may-be-yet-to-come-254583

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI Canada: Prime Minister Carney speaks with President of the European Council António Costa

    Source: Government of Canada – Prime Minister

    Today, the Prime Minister, Mark Carney, spoke with the President of the European Council, António Costa. President Costa congratulated Prime Minister Carney on his election. With his new government, Prime Minister Carney emphasized Canada’s role as a stable and reliable trading partner. 

    To that end, the leaders agreed to strengthen the close economic relationship between Canada and the European Union.

    Associated Link

    MIL OSI Canada News

  • MIL-OSI Canada: B.C. pronounces provincial day of remembrance and mourning for victims of tragedy at the Lapu Lapu Day Festival

    The Province of British Columbia has declared Friday, May 2, 2025, an official day of remembrance and mourning for the victims of the tragedy at the Lapu Lapu Day Festival in Vancouver on April 26, 2025.  

    Eleven people were killed and dozens more injured while celebrating Filipino culture and history in a senseless attack at the Lapu Lapu Day Festival in Vancouver. As we learn more about the victims, we are also learning their loss is felt deeply across the province.

    This tragedy has had profound impact on the Filipino community in B.C. and many others in Vancouver and throughout the province.

    The day of remembrance and mourning is an opportunity for people in British Columbia to come together, grieve the loss of innocent lives and recognize the contributions the victims made to their communities and the province. It is also a time to offer comfort to all of those impacted, including those who have lost loved ones, those recovering and those who witnessed the horrific scene, and to offer deep appreciation to community partners, the police, paramedics and those working at the hospitals for their dedicated service at a trying time. Hundreds of volunteers and community members are also stepping up to help at a trying time.

    A backgrounder follows.

    People in British Columbia impacted by the tragic events at Vancouver’s Lapu Lapu Day Festival can access the following supports:

    • Anyone who witnessed or experienced trauma at the event is encouraged to access resources through the VPD Victim Services Unit: 604 717-3321 and VictimLinkBC: call or text 1 800 563-0808, or email 211-victimlinkbc@uwbc.ca to be connected to services that can help, including counselling resources. For details, visit: https://victimlinkbc.ca/
    • ICBC supports are available for people who have been injured, as well as witnesses and the family members of those killed, including counselling. For more information, visit: https://icbc.com/about-icbc/newsroom/2025-04-27-lapu-lapu-tragedy
    • B.C.’s crisis line at 310-6789 (no area code needed) is available for anyone who needs mental-health supports. Crisis lines provide immediate support in the moment, as well as connections to ongoing supports.
    • Crime Victim Assistance Program benefits are available to victims, immediate family members and witnesses: https://www2.gov.bc.ca/gov/content/justice/criminal-justice/bcs-criminal-justice-system/if-you-are-a-victim-of-a-crime/victim-of-crime/financial-assistance-benefits
    • School districts are also taking action to support students, staff and families, including making more counsellors available. A list of resources has also been sent out to districts throughout the province to provide to students and their families looking for support.
    • Supports are available for first responders and health-care workers who are on the front lines, and we encourage all workers to reach out to their employers and/or unions if they are struggling.
    • BC Emergency Health Service’s (BCEHS) Critical Incident Management Stress team is providing mental-health and wellness support to employees who have been affected by these events in addition to the support provided by BCEHS leaders and supervisors. 
    • Vancouver Coastal Health (VCH) staff and medical staff can contact the VCH Employee and Family Assistance Program to access confidential counselling and wellness any time, 24/7.

    The Ministry of Emergency Management and Climate Readiness (EMCR) is working closely with the City of Vancouver and meeting with Filipino BC, the Vancouver Emergency Management Agency (VEMA), the Red Cross, United Way and other partners to identify further supports required.

    Those wishing to sign the book of condolences for victims of this tragedy can visit the Hall of Honour at the B.C. legislature or visit: https://submit.digital.gov.bc.ca/app/form/submit?f=f4944988-5402-45a8-bb9c-7b2a95f928d9

    MIL OSI Canada News

  • MIL-OSI: Prospera Energy Announces 2024 Financial Results

    Source: GlobeNewswire (MIL-OSI)

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

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

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

    Operational highlights for 2024 are as follows:

    • Realized $18.1 million in sales revenue in 2024, compared to $13.1 million in 2023.
    • Realized average gross sales of 652 boe/d in 2024, an increase of 29% from 2023 levels of 505 boe/d.
    • Realized average sales prices of $75.95/boe in 2024, compared to $71.48/boe in 2023.
    • Realized a positive operating netback of $6,013,280 in 2024, compared to $3,356,773 in 2023.
    • Realized positive funds flow provided by operations of $2,623,166 in 2024, compared to $190,823 in 2023.
    • Completed two working interest acquisitions in core Saskatchewan assets, resulting in a 17% increase in the average working interest in the region. As of December 31, 2024, PEI’s average working interest across all properties is 97% on a production weighted basis.
    • PEI’s 2024 third party reserves report highlights include the following:
      • NPV before tax for PDP reserves increased 3% from $27.1MM to $28.0MM at a 10% discount rate.
      • NPV before tax for PDNP reserves doubled from $8.5MM to $18.9MM at a 10% discount rate.
      • NPV before tax for 1P reserves increased 24% from $89.9MM to $111.4MM at a 10% discount rate.
      • NPV before tax for 2P reserves increased 20% from $133.3MM to $159.3MM at a 10% discount rate.
      • Gross 2P reserves increased by 26% from 5,403 to 6,793 Mboe (98% liquids).
    • In 2024 PEI raised $16.5m in financing:
      • $12.2 million through the issuance of senior debt.
      • $3.4 million through the issuance of a GORR.
      • $0.9 million through the issuance of promissory notes with warrants.
    • Increased Property and Equipment balance to $47.8 million from $39.3 million on December 31, 2023.
         
    Operating netback 2024 2023
    Total petroleum and natural gas sales 18,126,190 13,183,464
    Royalties (1,483,792) (1,365,520)
    Operating costs (10,629,118) (8,461,171)
    Operating netback 6,013,280 3,356,773
    Operating netback ($/BOE) 2024 2023
    Sales 75.95 71.48
    Royalties (6.22) (7.40)
    Operating costs (44.54) (45.88)
    Operating netback 25.19 18.20
    Assets ($) 2024 2023
    Current assets    
    Cash 364,083 118,933
    Trade and other receivables 1,874,548 3,244,596
    Prepaid expenses and deposits 393,207 548,443
    Inventory 564,802 521,426
    Total current assets 3,196,640 4,433,398
    Non-current assets    
    Trade and other receivables 1,676,252 4,387,826
    Deposits 1,283,422 1,015,400
    Property and equipment 47,776,659 39,331,690
    Total assets 53,932,973 49,168,314
         

    About Prospera

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

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

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

    For Further Information:

    Shawn Mehler, PR
    Email: investors@prosperaenergy.com

    Chris Ludtke, CFO
    Email: cludtke@prosperaenergy.com

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

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

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

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

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

    The MIL Network

  • MIL-OSI Canada: Prime Minister Carney speaks with President of Ukraine Volodymyr Zelenskyy

    Source: Government of Canada – Prime Minister

    Today, the Prime Minister, Mark Carney, spoke with the President of Ukraine, Volodymyr Zelenskyy.

    President Zelenskyy congratulated Prime Minister Carney on his election. The Prime Minister underscored Canada’s commitment to supporting Ukraine in achieving lasting peace and security. The two leaders agreed that a durable peace can only be achieved with Ukraine at the table.

    The leaders agreed to remain in close contact and to meet at the G7 Summit in Kananaskis, Alberta, in June.

    Associated Links

    MIL OSI Canada News

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

    US Senate News:

    Source: United States Senator for Virginia Tim Kaine

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

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

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

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

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

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

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

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

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

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

    MIL OSI USA News

  • MIL-OSI: Westport Announces Lock-Up Agreements in Support of the Light-Duty Divestment Transaction

    Source: GlobeNewswire (MIL-OSI)

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

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

    Recap of the Transaction

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

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

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

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

    About Westport Fuel Systems

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

    Cautionary Note Regarding Forward-Looking Statements

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

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

    The MIL Network

  • MIL-OSI USA: In Senate Floor Speech, Senator Murray Calls Out Trump’s Staggeringly Lawless and Inhumane Immigration Policy

    US Senate News:

    Source: United States Senator for Washington State Patty Murray

    60 Minutes: U.S. sent 238 migrants to Salvadoran mega-prison; documents indicate most have no apparent criminal records

    ***WATCH: Senator Murray’s remarks on the Senate Floor***

    Washington, D.C. – Today U.S. Senator Patty Murray (D-WA), Vice Chair of the Senate Appropriations Committee, took to the Senate floor to deliver a speech on President Trump’s lawless immigration policy. Senator Murray highlighted the absence of any semblance of due process for—in many cases—legal residents with no criminal record being detained and deported—and even sent to a prison in El Salvador with no outside contact and no end date. She also discussed how Trump’s crackdown has caused confusion for international students, fear among farmworkers, and led to U.S. citizens being detained, having their homes raided, and even to some U.S. citizens who are children being deported with their parents.

    Emphasizing the complete lack of transparency from the Trump administration on why the people sent to El Salvador are being detained and what is being done to bring them home, Senator Murray demanded more information from the Trump administration about its recent actions—from the full details of the secret agreement with El Salvador, to the names of all the individuals sent to El Salvador, their current status, what sort of evidence and process has been afforded them, and what sort of contact they can make with lawyers and family. She also pressed for a good faith effort to follow Supreme Court orders, to return everyone wrongly sent to El Salvador, and to establish lines of communication for individuals to speak with their lawyers and families.

    “I heard from one of my Republican colleagues say last week ‘I don’t see any pattern here.’ Well, I ask him now—I ask everyone now—to pay attention to the full picture. Because of course you won’t see the pattern if you just look at one case and you ignore the many, many others,” said Senator Murray. “There is the case of Andry Hernandez Romero, he’s a barber who came here legally, he has no criminal record. There is the case of Arturo Suárez Trejo, he’s a musician, he came here legally, he has no criminal record. There is the case of Merwil Gutiérrez, who—you guessed it—came here legally, no criminal record. In fact, he was apparently grabbed by mistake. One officer reportedly said ‘No, he’s not the one,’ and another said, ‘Take him anyway.’ Trump sent them all to a maximum-security prison in El Salvador—with no trial. Disappeared. They have no contact with their lawyer. No contact with family. We do not know if they are alive, and they don’t know if anyone is even advocating for them. How hopeless that must feel. How dark. So, is that enough of a pattern for my Republican colleagues? Do you still need more?”

    Senator Murray has championed comprehensive and humane immigration reform throughout her Senate career, repeatedly pushing for legislative solutions that would offer a fair pathway to citizenship for the more than 11 million undocumented immigrants living in America, including Dreamers, farmworkers, and those with Temporary Protected Status. During Trump’s first administration, Senator Murray helped lead the charge in pushing back against Trump’s appalling treatment of migrant children and families at the southern border— cosponsoring the Fair Day in Court for Kids Act, which would require unaccompanied children and vulnerable individuals to be provided with legal assistance during immigration court proceedings, the Stop Cruelty to Migrant Children Act to end family separations at the border, and legislation to prevent the separation of families at sensitive locations such as schools, religious institutions, and hospitals, among many other efforts.

    Senator Murray’s remarks, as delivered, are below, and video is HERE:

    “Thank you, M. President.

    “Over the past month we have seen a wave of righteous outrage across the country in response to President Trump’s completely lawless move to disappear hundreds of people to a notorious mega-prison in El Salvador, without even the barest semblance of due process.

    “And as I join my colleagues in calling for the Trump Administration to abide by the Supreme Court ruling, and facilitate the release of Kilmar Abrego Garcia—a man they said, in court, was sent to El Salvador by mistake—I have to emphasize, his case is one of many where Trump has completely shredded our norms and laws. In addition to Garcia, Trump sent off some two hundred people—including innocent people who were in our country legally—to a foreign prison without any due process whatsoever.

    “And they did it all on the basis of some arrangement negotiated in secret and paid for with millions of taxpayer dollars. What we do know, is that many of these people were sent there without any criminal conviction—the Administration actually admitted that! In their own court filing the Trump Administration acknowledged that many of these people have no criminal records in the U.S. And yet, all of these people have now been imprisoned in a foreign country with no end date in sight—unconstitutional doesn’t even begin to cover that.

    “There are so many questions, basic questions, about this that we all should be demanding answers to. At the barest, smallest, slimmest minimum, and I mean as a starting point, the Administration must release more details about this secret agreement where it is paying El Salvador with our taxpayer dollars to imprison people without a trial. Details like: who all is being imprisoned, how long is El Salvador holding these people with  Trump’s orders, how many people is El Salvador going to imprison under this agreement, what outside contact is possible for those people, and how do we learn their status and condition—are they alive, are they healthy? What are those details?

    “Most of these details we do have are from reporting—and news reports say the deal was only for El Salvador to take convicted criminals—so why did Trump send people with no criminal record? And importantly: where in the world is this money coming from? Does anyone here remember voting to pass a single dollar in appropriations to fund a torture prison in El Salvador? Because I sure don’t! And last I checked Congress has the power of the purse.

    “You know what else we don’t know? We still don’t know the names of everyone they did this to. Think about that. We don’t even have their names! That information should be released immediately. Today. Because there are families who still have no confirmation where their loved ones are, and the only list we have right now was not even released by the Administration! It was reported by the press.

    “Some families only learned their son was gone, their husband was gone, their father was gone, through photos of them being marched into a torture prison. This is the first, last, and only update we have on just about all of those people. We don’t know if they are alive. We don’t know if they are being treated decently. We don’t even know if they have been moved. Even their lawyers can’t reach them.

    “Here’s what we do know: there are many names on the El Salvador list of people who were here legally, who had no criminal record. That seems to be getting lost in the debate for some of my Republican colleagues. This is not about any one case, or any one person, it is about a lawless system for the President to deny due process. And when you cut out due process, you put innocent people in harm’s way.

    “I heard from one of my Republican colleagues say last week ‘I don’t see any pattern here.’ Well, I ask him now—I ask everyone now—to pay attention to the full picture. Because of course you won’t see the pattern if you just look at one case and you ignore the many, many others.

    “There is the case of Andry Hernandez Romero, he’s a barber who came here legally, he has no criminal record.

    “There is the case of Arturo Suárez Trejo, he’s a musician, he came here legally, he has no criminal record.

    “There is the case of Merwil Gutiérrez, who—you guessed it—came here legally, no criminal record. In fact, he was apparently grabbed by mistake. One officer reportedly said ‘No, he’s not the one,’ and another said, ‘Take him anyway.’

    “Trump sent them all to a maximum-security prison in El Salvador—with no trial. Disappeared. They have no contact with their lawyer. No contact with family. We do not know if they are alive, and they don’t know if anyone is even advocating for them. How hopeless that must feel. How dark. 

    “So, is that enough of a pattern for my Republican colleagues? Do you still need more?

    “Because there’s also Jerce Reyes Barrios, he’s a soccer player, he came here legally. Again—no criminal record.

    “There’s Gustavo Aguilera, a food delivery driver. Legally here. No criminal record.

    “Or Anyelo Sarabia. Here legally. No criminal record.

    “I mean, how many more before my colleagues can actually admit this is a pattern? How many people have to be disappeared with no due process before it becomes a problem? Because for me—one is too many. And the pattern isn’t even over yet. Trump was reportedly ready to disappear even more people to El Salvador—before the Supreme Court put its foot down. In this latest round, the Trump Administration was preparing to disappear a man who came here legally, had no record, except traffic violations!

    “Another was a young man accused of being a gang member because of a photo with a toy water gun. That is the level of so-called ‘evidence’ that gets you locked away in a foreign torture prison under President Trump. And I will keep saying it Mr. President, most of the people they disappeared have no criminal records, and many were even here legally. They came here for a better life, and Trump disappeared them based on nothing more than tattoos that say ‘mom’ and ‘dad,’ or that they celebrate soccer teams, or a daughter’s birth, or autism awareness.

    “And Mr. President, I realize, I keep hammering home that—many of these people are not criminals—and many of these people came here legally. But I do want to remind my colleagues, this question is not whether someone who was vanished to El Salvador without a trace is good or bad, the question is whether everyone in this country—including American citizens—have the rights they were promised in our Constitution.

    “At the end of the day, this is not about who these people are, it is about who we are—whether we are a country of due process, or not. A country of laws, or not.

    “Trump has said where he stands. He literally said ‘We don’t have time’ to give them due process. If the Trump Administration think’s someone is a criminal, if they are really bad and dangerous, prove it in court. Prove it! Just simply prove it! It shouldn’t be hard. That is how this works. Everyone in this country understands that.

    “You can’t just say ‘criminals don’t get due process’—when due process is how you determine who is a criminal in the first place! I mean, in the case of one person they sent to El Salvador, not only did the government’s file against him show no criminal record, it also got his name wrong several times, and used two different identification numbers! Those are pretty major errors to make when you are locking someone away. The kind of errors that due process helps to avoid.

    “That’s not some theory—we are seeing that happen in another case right now. There is a couple that Trump is saying are part of a gang, but instead of just disappearing them with no trial to speak of, the Administration was forced to prove it, to prove it in court. And you know what happened? The government failed. The judge found the government’s claims, ‘completely and wholly unsubstantiated’ and ordered the couple to be released.

    “That just goes to show, if we ignore our laws, if we tear down the guardrails that saved that couple, it’s not criminals who pay the price, it is innocent people. Because due process protects them too! Due process allows us to confirm whether people are lawfully present. Due process lets us confirm whether Trump is about to send them to a foreign prison. Due process lets us confirm whether people are guilty—instead of going off how they look, or what tattoo they have.

    “And at the end of the day, due process means they get an actual determination of guilt or innocence, instead of getting disappeared with a question mark. But no one here was told they are facing ‘X’ years in a foreign prison.

    “There is no end date in El Salvador! Because there was no sentence! Because there was no trial! There was just Trump, ignoring our laws, ignoring our courts, and sending people to gulags to rot, to die, to never be heard from again. How can anyone ignore that outrageous breach of our laws—of our values!

    “And M. President—as a co-equal branch of this government, I want to impress upon my colleagues: It is not just due process that is getting trampled here, it is basic checks and balances. Trump is imprisoning these people under the Alien Enemies Act. He is using a war power. We are not at war! Everyone here should know that. After all, Congress, we, have to vote to declare war. I remember every war vote we have taken in my time here in Congress—and I can tell you—there has never been a vote on this so-called war Trump declared all on his own.

    “As if that weren’t enough, earlier this month the National Intelligence Council, the National Intelligence Council, determined that Venezuela is not directing an ‘invasion’ by gangs. That directly undercuts what Trump claimed when he announced his illegal end run around Congress. Here’s a simple question for everyone, there is no invasion, there is no war, so why is Trump invoking a wartime authority?

    “But add on top of that—that Trump has reached some secret, multi-million-dollar deal to pay El Salvador to imprison these people without a trial. I’m Vice Chair of the Appropriations Committee—I can tell you, we did not include a single cent—not one penny!—for running torture prisons in El Salvador in our last funding bill.

    “Congress has the power of the purse, but Trump is picking our pockets to fund his own personal gulag. And by the way, while we talk about checks and balances, let’s not forget how the Trump Administration is arresting judges, his allies and advisors are attacking judges publicly and calling to impeach those who disagree with him, and of course, Trump is blatantly ignoring the courts. And worse than that, the White House is in open defiance of the Supreme Court.

    “The Supreme Court wrote the Administration must facilitate Mr. Garcia’s release. The White House wrote that he is never coming back.

    “The Supreme Court wrote people being targeted under the Alien Enemies Act must have a reasonable opportunity to file for habeas corpus. The Trump Administration said, ‘no—we will give them 12 hours.’

    “Foreign policy is not an end run around the courts or the constitution. The President cannot just be given unilateral authority to cut completely unethical deals with foreign nations. What happens when a President negotiates in secret to have his political rivals detained abroad? Is that allowed? Can he argue the courts can’t require him to call such a deal off? Or maybe he just denies it and says any agreements are state secrets? Does that work?

    “If President Trump said he would pay El Salvador $6 million to assassinate his rivals—I think we would all agree that is blatantly unconstitutional. And if the court said he had to facilitate a reversal of that deal, and he said ‘well.. it’s a sovereign nation… I can’t stop them from assassinating anyone,’—I think we all would have a huge problem with that. So, do we want to say that is wrong now—or are we going to have to wait until he tries it?

    “What are we waiting for? We cannot just all stand by silent as the President pries open a pandora’s box that is all together unprecedented—and that poses a direct threat to our Republic. And let’s cut through this BS where Trump and El Salvador are both trying to pretend there is no way to facilitate the return of people sent there wrongly.

    “Cause here’s the thing: El Salvador has already sent back people that Trump tried to disappear. El Salvador immediately sent back a Nicaraguan individual. And they sent back women—yeah, Trump tried to disappear women to their all-male torture prison in El Salvador. If anyone wants to try and pretend this was some careful vetting process, pleaseexplain that to me. So it’s not like El Salvador can’t send people back—they have already done that.

    “The Administration should be making clear—one: that these people were wrongly sent, and two: that, as with others wrongly sent, they need to be returned. Though, I want to keep in mind of course, that ‘wrongly sent’ is still an enormous understatement. The reality is these people were completely denied due process. The reality is President Trump is not just disappearing these people to El Salvador, he is disappearing our most basic constitutional rights, and he is doing it in plain sight.

    “Not just in El Salvador either! Right here, in America, his immigration crackdown is upturning lives, and overturning some of our most basic values, like freedom of speech. We have people who are here legally—who are being detained and threatened with deportation. Not for any crime, not for any violence, but for speech, for protest, for things as simple and fundamental as writing an op-ed the Administration disagreed with.

    “In America, the land of the free and the land of free speech, is dissent the bar for deportation now? Is that what this country has come to? What next? How far does Trump’s new standard apply? Can you get deported for saying we shouldn’t invade Canada? Can you get detained for an op-ed saying Greenland is not going to be a state? Are you going to have legal status revoked for admitting Biden won the 2020 election?

    “Because that may seem outrageous—but it also seems perfectly in line with Trump’s new policy which amounts to—disagree with the President and your rights are gone. That is fundamentally un-American.

    “And beyond people who are being targeted for protest, there are thousands of students in this country, that Trump is trying to push out over minor issues; fishing citations, jay walking, speeding tickets, even charges that were dismissed. So far, some 1,800 foreign students are having their visa revoked with little to no explanation, to say nothing of due process.

    “That includes students in Washington state, my homes state, at the UW, at Gonzaga, at Shoreline Community College—where I once worked—my alma mater WSU, and more! It’s not clear whether these students have done anything wrong, and it’s not clear in some cases—what exactly they are supposed to do next. Because when the Administration can’t revoke visas—it has been trying to remove students’ records—something courts have already ruled against.

    “One of the judges really put it best. And I want to read this and quote it to you. This is a judge. ‘I’ve got two experienced immigration lawyers on behalf of a client who is months away from graduation, who has done nothing wrong, who has been terminated from a system that you all keep telling me has no effect on his immigration status, although that clearly is BS. And now, his two very experienced lawyers can’t even tell him whether or not he’s here legally, because the court can’t tell him whether or not he’s here legally, because the government’s counsel can’t tell him if he’s here legally.’

    “M. President, the point seems to be, if we can’t deport you, we can scare and confuse you. And to add even more confusion, DOJ announced they were reversing course on some of this, only to then say they are still working on a plan to push out all these students. And by the way, we are only still scratching the surface of just how inhumane Trump’s immigration crackdown has become.

    “Trump is slashing funds to ensure 26,000 migrant kids have legal assistance—meaning more four-year-olds are being marched in front of immigration judges, expected to make their own legal case with a plushy toy. Trump is also trying to mass cancel protected status for people who came here who were fleeing harsh conditions and dictators. Trump is sending Christian refugees and women back to live under the Taliban—where they will face near certain persecution. Trump is sending ICE officials to elementary schools, where they have tried to gain access by lying about having permission from parents to speak with their kids.

    “ICE officials are arresting people with maximum violence and lawlessness—showing up without a judicial warrant, since the Trump Administration says it is fine to storm into someone’s house without one, showing up in masks, grabbing people off the streets without any badge or identification to distinguish them from a kidnapper, whisking people away in unmarked cars, and even smashing in windshields.

    “M. President, back in my home state of Washington—I have heard from folks who saw that firsthand. Last month, ICE aggressively detained Lelo, a farmworker in my state—and it appears he may have even been targeted because of his advocacy for better working conditions for his fellow farmworkers. They are still denying him bond—despite no criminal charges. I spoke with his wife last week—who watched in horror as they arrested her husband shortly after he dropped her off at work. She told me through tears about how officers broke his window and pushed him against the car. And how, Lelo wants to be free so he can take care of his brothers and sisters and work so they can study. He wants to continue doing his work in the community and with the union. And they are working right now to try and get bond—something I strongly support. This is not someone M. President, with a dangerous record—it is someone with a record of hard work, and of trying to make his community better.

    “Skagit County is known for its agricultural industry—and that industry doesn’t survive without the immigrant farmworkers who help power that local economy. Period.

    “More than that, we are talking about many families who have been here for decades. They are part of our community—they’re not just the people who feed this country. These people work hard, they follow the law. They should not be terrorized as if they were violent criminals. Last week, I met with farmworkers there who told me there have been days they have been afraid to go to work, because an unmarked vehicle was seen in their neighborhood. They are absolutely terrified of being grabbed off the street by ICE and locked up with no semblance of due process, regardless of their legal status.

    “And this situation is not unique to Skagit County or even to my state. It’s happening across the country. Let’s not forget, Trump is trying to deport a cancer researcher to Russia where she fears retaliation for protesting the war in Ukraine. Sending her away would both put her in danger and completely upend groundbreaking cancer research—her colleagues say her role is irreplaceable.

    “But it’s not just cancer research, Trump also deported a little girl, a U.S. citizen, who was on her way to get cancer treatment! She was with her mother, an undocumented immigrant—who was forced to choose between being separated from her 10-year-old daughter or being sent away together. What an unthinkable choice to force on a mother. What an unthinkable thing to do to a child, a citizen, a citizen who is fighting cancer.

    “And Trump has done that twice. That’s right twice, he has deported a mother—along with a kid who is fighting cancer—a kid who is an American citizen. And he is doing that without giving these parents any meaningful time to talk to a lawyer, or a spouse, to figure out what is best for their child. We know that because Trump deported another U.S. citizen last week—that’s right another one. Trump deported a two-year-old, an American citizen. They refused to tell this kids’ father where his wife and kid were being held. They refused to let him talk to his wife for more than a minute. They even forced him to hang up the phone when he tried to give his wife their lawyer’s number. And then, as the judge put it, they seem to have ‘deported a U.S. citizen with no meaningful process.’

    “And now we are hearing about a family in Oklahoma—U.S. citizens who recently moved in who had their home raided by ICE. A mom and her daughters—forced out of their house, in the rain, in underwear. ICE agents seized phones, laptops, even their full life savings—and didn’t leave so much as a number they could call to get their stuff back. That happened to U.S. citizens, who did nothing but move into a new house.

    “These horror stories underscore something important—Trump’s cruel war on immigrants is hurting American citizens too. U.S. citizens are having their spouses ripped away, even servicemembers are seeing their families targeted. They are having their parents ripped away. They are having their lives turned upside down.

    “And—let’s not forget—U.S. citizens are even being detained by this administration. We have several instances now—where American citizens have been caught up in Trump’s immigration crackdown. American citizens have been detained and wrongly locked up—even after someone showed them their birth certificates. Even for days! And let’s keep in mind—if you are a citizen who is mistakenly detained, and you are being denied due process, and you can’t reach someone to show your birth certificate, how are you supposed to get released? What if you are put on the next plane to El Salvador before you get the chance to set the record straight? And let’s not pretend that’s far-fetched.

    “Not when citizens havealready been mistakenly detained. Not when the government hasalready admitted it sent some people to El Salvador by mistake. Now when Trump has already disappeared some people who were here legally, and many people who had no criminal record—with no due process. And not when Trump hasalreadysaid he wants to send U.S. citizens to El Salvador prisons. He was caught on mic telling the President of El Salvador he needs to build more jails, telling him the ‘homegrowns’ are next. What happens when you get sent there, and you can’t contact a lawyer? These are serious questions—what happens? Because if there is nothing we can do for the people there now, what precedent does that set for the people that are sent there next?

    “M. President—I’ve been speaking for a while now and I’ve posed a lot of questions, and I hope my colleagues think about this carefully. So, I am going to wrap it up, but I will end now with just one more.

    “Where will Republicans draw the line? Because we are well past the bounds of law—and we are well past the bounds of basic humanity. So, I hope more of my colleagues will join me in saying enough is enough. And in demanding transparency, accountability, and justice from the Trump Administration. That starts with some very basic things.

    “First—accurate, up-to-date information on the names of people who are being detained in, and deported from, ICE facilities across the country—including by the way, the Northwest ICE Detention Center in Tacoma, so that their loved ones and community members can at least know where they are!

    “And we need a clear list of every person who was disappeared to El Salvador, along with what evidence—if any—the government has. As well as the full terms of whatever agreement the Trump administration has negotiated with El Salvador’s dictator.

    “But it doesn’t stop there. We need to see clear, good faith efforts to abide by court orders, and to bring back everyone wrongfully, unjustly sent to a foreign prison. We need to have lines of communication so these people can talk to their lawyers, or talk to their loved ones, and let us know if they are okay.

    “And we need due process—with evidence, with judges, and a meaningful opportunity for people to present a defense. Let’s be clear we are not saying everyone is innocent. We are saying no more than what the constitution says, no more than what the courts have said time and again: Everyone, in the United States of America, gets due process.

    “Thank you.”

    MIL OSI USA News

  • MIL-OSI: Freehold Royalties Announces Refinement of Business Structure with Termination of the Management Agreement

    Source: GlobeNewswire (MIL-OSI)

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

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

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

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

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

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

    For further information contact

    Freehold Royalties Ltd.

    Forward-Looking Statements

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

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

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

    The MIL Network

  • MIL-OSI USA: Welch Questions Trump’s Nominee to lead Customs and Border Protection: “I hope you can find a way to be really respectful of the long-term traditions that have been very beneficial for Vermonters.”

    US Senate News:

    Source: United States Senator Peter Welch (D-Vermont)

    WASHINGTON, D.C. – U.S. Senator Peter Welch (D-Vt.) questioned Rodney Scott, President Trump’s nominee to be the Commissioner of U.S. Customs and Border Protection in a Senate Finance Committee hearing today.  
    Senator Welch asked how Mr. Scott plans to balance public safety while respecting migrants’ contributions to their communities and our agriculture industry, specifically discussing the recent arrests and detention of eight migrant farmworkers. Senator Welch also pushed the nominee on CBP’s limited hours at Land Ports of Entry between Vermont and Canada, as well as how CBP will work with northern border communities to protect shared traditions and institutions, like the Haskell Free Library and Opera House.  
    Watch the exchange between Senator Welch and Rodney Scott, President Trump’s pick to lead U.S. Customs and Border Protection: 

    Read excerpts of Senator Welch’s questioning below: 
    Sen. Welch: You’ve got a big responsibility, obviously, to have the border secure, criminals to be deported. But there’s also an element where the overreach in the power of prosecution and in the power of law enforcement—as you know better than anyone—is immense, can have some harmful consequences.  
    We’ve got folks working on dairy farms, and we just had one of our most prominent dairy farms—there was an incident there. That farm, by the way, has extremely good relations with CBP folks. These farmers understand the importance of the job. But there was apparently an ‘anonymous tip’ about somebody with a backpack that led to eight farmworkers being arrested—they’re now in detention. We’ve got to milk our cows. We’ve got to have access to labor. None of these folks have any criminal record, and really this is a question about priorities.  
    I’m all with my colleagues here on securing the border. I’m all with my colleagues on deporting criminals. But my goodness, we need farmworkers. How are you going to balance the aggressive efforts of the Trump Administration on the border and make distinctions between where you best can act in order to protect the public and not harm agriculture? 
    Scott: Thank you. So, Customs and Border Protection’s role is a little bit unique in that we’re focused on the interdiction aspect. So, we’re focused on people coming into the United States illegally at the borders or an international border, we’re not doing the interior enforcement aspects. But I will highlight that I don’t support asking law enforcement officers to not enforce the law that’s in front of them. And that’s kind of the challenge. I like highlighting the fact that we have a visa process now where it may not be the easiest on the planet, but it’s not as hard for employers to actually get guestworkers to come in—not a guestworker, but an HB1V… 
    Sen. Welch: This farm did that. But there’s always a dispute and there’s always a suspicion. These people, I spoke to the farmer, none of them have any criminal records, they’re all valued members of the community. And by the way, the economy—this is Franklin County in northern Vermont—has really benefited, obviously, by the wages that are paid, by the money that’s spent, and by maintaining these farms. I mean, these are real-world consequences for real people in Vermont. And I suspect, real people in many other states, especially along the northern border. 
    Scott: If confirmed as Commissioner, I’ll ensure that we enforce all of the laws that CBP enforces—immigration and customs—with humanity and respect and work with the communities. But I can’t apologize for actually enforcing the laws that Congress enacted and put on the books and asked us to enforce. 
    Sen. Welch: I’m not asking you to apologize. And you do have a point, because it’s on Congress that we don’t have a sensible policy on ag workers. That is on us. But you know what? We’ve got to do something about it. It’s horrible, what just happened to this farm—really terrible. These are all good people that are working there, and they’ve been separated from their families.  
    Land ports of entry in Vermont: We have a library that literally—you know about this—is between the border between Canada and in Vermont. And this is one of the challenges you face. Canadians come in the back door, which is on the Canadian side, and Vermonters go in the front door, which is on the Vermont side. And now we’re getting hassled about being able to maintain something that has served that community for 120 years. So, I get it that you’ve got to ‘enforce the law,’ but is it a real issue about Canadians coming into the Canadian side of a Vermont library to get a book? 
    Scott: So, I’m somewhat familiar with that library. I have not visited, but I’ve heard the challenges in both perspectives. The community, the history, the interaction, and then how like many times when we unintentionally create a vulnerability, how criminal elements will exploit it. 
    Sen. Welch: But there’s no criminal elements going to the Haskell Library to check out a book.  
    Scott: Well, they go in there, but it’s not to check out a book, I would agree. But my commitment to you is if confirmed, I will sit down and talk through issues like that. That we’re not going to make decisions in a vacuum. 
    Sen. Welch: I appreciate that. 

    MIL OSI USA News