NewzIntel.com

Category: Canada

  • MIL-OSI: Portland Investment Counsel Inc. Announces Alternative Fund Risk Rating Changes

    Source: GlobeNewswire (MIL-OSI)

    BURLINGTON, Ontario, March 27, 2025 (GLOBE NEWSWIRE) — Portland Investment Counsel Inc. (“Portland”) announced today a change to the risk rating of Portland 15 of 15 Alternative Fund and Portland Replacement of Fossil Fuels Alternative Fund (the “Funds”). Portland determines the risk rating for the Funds in accordance with the methodology required by the Canadian Securities Administrators. As a result of its annual review of the investment risk level of the Funds, Portland has determined the risk rating for the Funds will be changing as follows:

    Fund Current Risk Rating New Risk Rating
    Portland 15 of 15 Alternative Fund Medium Medium to High
    Portland Replacement of Fossil Fuels Alternative Fund Medium Medium to High
         

    This change will be reflected in the Funds’ Simplified Prospectus and Fund Facts, which will be filed with Canadian Securities Administrators in connection with the Funds’ 2025 annual renewal.

    There are no changes to the investment objectives or strategies of the Funds.

    For further information, on Portland and the Funds, please visit www.portlandic.com or contact Client Services at 1-888-710-4242, option #1, or email at clientservices@portlandic.com.

    The MIL Network –

  • MIL-OSI Security: Vegreville — RCMP Central Alberta Crime Reduction Unit arrest three individuals after a pursuit and carjack attempt

    Source: Royal Canadian Mounted Police

    On Jan. 30, 2025, at approximately 1:30 a.m., a Peterbilt semi-truck was stolen from Edmonton. When it was discovered stolen at roughly 8 a.m., it was immediately reported to Edmonton Police Service, and the truck was subsequently tracked with an installed GPS device by the company. Members of the Vegreville RCMP were dispatched to the area, where they located the semi-truck and attempted to stop it, but it fled from police. No pursuit was initiated.

    With the help of the RCMP helicopter, RCMP were able to observe the semi as it drove through the towns of Lamont, Alta., Chipman, Alta., and Bruderheim Alta., before officers were able to successfully deploy a tire deflation device, and after traveling a short distance, the semi stopped. The driver of the semi exited the truck and immediately attempted to carjack another vehicle before being subdued by responding officers. Two other occupants attempted to flee on foot but were also apprehended.

    A search of the semi incidental to the arrest as well as a bag tossed by the occupants revealed:

    • Government ID cards and cheques belonging to at least 6 individuals;
    • tools commonly used for property crime;
    • Approximately 13 grams of Crystal Meth.

    The driver, a 46-years-old male resident of Edmonton, was taken to hospital where he received medical treatment, he is facing the following charges:

    · Possession of Property obtained by Crime over $5000;

    · Possession of Break & Enter instruments;

    · Possession of Identity Documents (x6);

    · Fail to Comply with Release Order;

    · Criminal Flight;

    · Dangerous Operation of a Motor Vehicle;

    · Possession a Weapon for a Dangerous Purpose;

    · Theft of Motor Vehicle;

    · Mischief over $5000; and

    · Possession of a Controlled Substance (Methamphetamine).

    The 46-year-old individual was taken before a justice of the peace and remanded with their next court date set for Feb. 10, 2025, at the Alberta Court of Justice in Vegreville.

    A 49-years-old individual, a resident of Sturgeon County, Alta., is facing the following charges:

    · Possession of Property obtained by Crime over $5000;

    · Possession of Break & Enter instruments; and

    · Six counts of Possession of Identity Documents.

    The 49-year-old individual was taken before a justice of the peace and remanded in custody with their next court date set for Feb. 10, 2025, at the Alberta Court of Justice in Vegreville.

    A 37-years-old individual, a resident of Sturgeon County, is facing the following charges:

    · Possession of Property obtained by Crime over $5000;

    · Possession of Break & Enter instruments; and

    · Six counts of Possession of Identity Documents.

    The 37-year-old individual was released on a $2,000.00 Promise to Pay Release Order with a next appearance date set for Feb. 24, 2025, to appear at the Alberta Court of Justice in Vegreville.

    “Offenders such as these commit crime almost continuously until they are caught.,” says Cpl. Troy Savinkoff,” arrests like this is protects the public from being their next victim.”

    The RCMP continue to investigate and anyone with information regarding this crime is asked to contact the Vegreville RCMP at (780) 631-2750. If you wish to remain anonymous, you can contact Crime Stoppers at 1‐800‐222‐8477 (TIPS), online at www.P3Tips.com or by using the “P3 Tips” app available through the Apple App or Google Play Store.

    RCMP encourage the public to report any criminal or suspicious activity to police. Reports tell us where to look, who to look for, and where to patrol in the future. If you see a crime in progress, dial 911.

    MIL Security OSI –

  • MIL-OSI Security: Drayton Valley — Drayton Valley RCMP lay charges after stolen vehicle found

    Source: Royal Canadian Mounted Police

    On Jan. 22, 2025, Drayton Valley RCMP responded to a report that a truck had been stolen in the area of 50 Street, in Drayton Valley.

    Surveillance was obtained from a local business, which relayed to the Central Alberta District Crime Reduction Unit (CAD CRU). Later that same day, CAD CRU members who were assisting the Rimbey RCMP, observed what they believed to be this same stolen truck, along with a second stolen truck, in the area of Highway 22 in Clearwater County, Alta. near Alder Flats, Alta.

    Air Services was requested to assist, and the two vehicles were located shortly after, and the two trucks fled the area upon RCMP arrival. A tire deflation device was deployed, and was successful in stopping the vehicles momentarily until the drivers eventually abandoned the truck stolen from Drayton Valley, fleeing in the second vehicle to a residence, dropping off one occupant near Alder Flats to a residence, and then tried to hide the stolen vehicle in a forested area, fleeing on foot to another residence.

    A 30-year-old individual, a resident of Brazeau County, Alta., was charged with: possession of property obtained by crime over $5000 x2, possession of break in instruments, flight from police officer, possession of weapons for dangerous purpose, dangerous operation of motor vehicle, operation of motor vehicle while prohibited, failure to comply with alcohol/drug recognition demand, and traffic safety act related warrants.

    The 30-year-old individual was brought before a justice of the peace, where he was remanded with a court date of Feb. 12, 2025, in the Alberta Court of Justice in Breton, Alta.

    A 35-year-old individual, a resident of Brazeau County, who was out on a conditional sentencing order, was charged with: possession of property obtained by crime over $5000 x2, possession of break in instruments and flight from police officer.

    The 35 year od individual was brought before a justice of the peace, where he was remanded with a court date of Feb. 12, 2025, in the Alberta Court of Justice in Breton.

    A 38-year-old individual, a resident of Brazeau County, was charged with: possession of property obtained by crime over $5000 x2, possession of break in instruments and failure to comply with release order conditions x 2, as well as her 5 warrants for possession of stolen property x2, flight from police officer and failure to attend court x2.

    The 38-year-old individual was brought before a justice of the peace, where he was remanded with a court date of Feb. 12, 2025, in the Alberta Court of Justice in Breton.

    The Drayton Valley RCMP is seeking the public’s assistance in identifying the location of, or sightings of crimes in the area. Anyone with information in relation to this incident or any other crimes is asked to please contact the Drayton Valley RCMP at 780-542-4456 or your local police. If you wish to remain anonymous, you can contact Crime Stoppers at 1-800-222-8377 (TIPS), online at www.P3Tips.com or by using the “P3 Tips” app available through the Apple App or Google Play Store.

    MIL Security OSI –

  • MIL-OSI Security: Evansburg — Evansburg RCMP lay charges on male after reported kidnapping

    Source: Royal Canadian Mounted Police

    On Feb. 2, 2025, Evansburg RCMP responded to a third-party report where it was believed an adult victim had been kidnapped at gunpoint in the area of Highway 16A and Range Road 81 in Evansburg.

    Acting on this reported information, RCMP deployed significant resources, including dozens of members from Evansburg RCMP, Edson RCMP Traffic Unit, Edson RCMP, Whitecourt RCMP, Mayerthorpe RCMP, Parkland RCMP, Drayton Valley RCMP, Hinton RCMP, Barrhead RCMP, Saddle Lake RCMP, Real Time Operation Centre, RCMP Air Services, Alberta’s Remotely Piloted Aircraft Systems (RPAS), Major Crimes Unit, Emergency Response Team, and the Federal Serious & Organized Crime Unit.

    RCMP located the vehicle and attempted a traffic stop, but the driver fled at an extremely high rate of speed, especially considering the road conditions; due to the perceived danger of the to the victim, a pursuit was initiated. RCMP were able to make contact with the vehicle, resulting in the driver fleeing on foot; the victim was secured safely with RCMP members.

    RPAS and members began attempts at locating the suspect in a rural residential area, north of Range Road 150. The suspect was located running behind a shed, and the suspect attempted to break into a residence but was confronted by the homeowner, containment was initiated and shortly after, the suspect came out of the forest in surrender.

    A 50-year-old individual, a resident of Onoway, Alta., was charged with flight from police, dangerous operation of a motor vehicle, resist/obstruct a police officer, mischief under $5000, break and enter to a residence and forcible confinement.

    The 50-year-old individual was brought before a justice of the peace, where he was remanded with a court date of Feb. 5, 2025, at the Alberta Court of Justice in Stony Plain, Alta.

    This investigation is still ongoing, and the RCMP would like to extend gratitude to community members for their assistance thus far.

    The Evansburg RCMP is seeking the public’s assistance with any information regarding the incident and any dashcam footage if available. Anyone with information in relation this incident is asked to please contact the Evansburg RCMP at 780-727-4446 or your local police. If you wish to remain anonymous, you can contact Crime Stoppers at 1-800-222-8377 (TIPS), online at www.P3Tips.com or by using the “P3 Tips” app available through the Apple App or Google Play Store.

    Background:

    Feb. 2, 2025

    Evansburg RCMP issuing shelter in place for rural area east of Edson – Update

    Evansburg RCMP have lifted the shelter place for the area east of Edson on Range Road 150.

    A suspect has been taken into custody and police are not searching for any others.

    A release with additional details is anticipated. RCMP thank the public for their cooperation.

    Background:

    Feb. 2, 2025

    Evansburg RCMP issuing shelter in place for rural area east of Edson

    Evansburg RCMP is advising residents in the area east of Edson to shelter in place and not to open their doors to unknown persons.

    RCMP are responding to an unfolding event north of the Yellowhead Highway, on Range Road 150 and south of Township Road 532D.

    Residents of the area are asked to remain indoors, lock their residences and stay away from windows while officers respond.

    There are a significant number of resources focused on responding to this unfolding event. Please refrain from posting photos of responding officers on social media or those stationary in this vicinity.

    An update will be provided when further information is available.

    MIL Security OSI –

  • MIL-OSI Security: Woking — Spirit River RCMP find stolen vehicles, firearms and drugs in successful search warrant

    Source: Royal Canadian Mounted Police

    On Feb. 27, 2025, Spirit River RCMP began an investigation into a property in the area of 45 Ave in Woking, where stolen property was suspected to be stored.

    A search warrant was approved, and on March 1, 2025, Spirit River RCMP, assisted by Remotely Piloted Aircraft System (RPAS) from Grande Prairie Crime Reduction Unit, and members from the Containment Unit, who entered the property to collect the stolen property.

    RCMP located stolen property including 6 vehicles -and 3 additional with tampered VIN’s still under investigation-, a mower, trailers, skidoo’s, license plates, gas cards, various tools, several firearms, ammunition, suspected cocaine and methamphetamine, and approximately four pounds of cannabis.

    Spirit River RCMP are requesting public assistance with locating one suspect in relation to this incident, Kyle Dale Hudson (41), a resident of Woking, who is wanted for 15 offenses related to this file including: possession of property obtained by crime, altering a VIN, and firearms offenses; additionally, Hudson has three warrants out of Grande Prairie, Alta., for driving offenses and failure to appear to court.

    Hudson is described as:

    • 41-years-old
    • Approximately 5 foot 8 inches
    • Approximately 240 pounds
    • Brown short cut hair
    • Brown eyes
    • Fair to medium skin tone
    • Tattoo on left hand saying “Kyle”
    • Has been known to travel to BC and the Northwest Territories

    If you see Hudson, do not approach. Call 911.

    Spirit River RCMP appreciates any public assistance thus far and encourages any community members to contact them, should they have any information they believe may be helpful.

    This investigation is still ongoing and RCMP would like to extend gratitude to community members for their assistance thus far.

    The Spirit River RCMP is seeking the public’s assistance in identifying the location of, or sightings of Hudson. Anyone with information in relation to Hudson is asked to please contact the Spirit River RCMP at 780-864-3533 or your local police. If you wish to remain anonymous, you can contact Crime Stoppers at 1-800-222-8377 (TIPS), online at www.P3Tips.com or by using the “P3 Tips” app available through the Apple App or Google Play Store.

    MIL Security OSI –

  • MIL-OSI Global: Women are reclaiming their place in baseball

    Source: The Conversation – USA – By Callie Maddox, Associate Professor of Sport Leadership and Management, Miami University

    For most baseball fans, hope springs eternal on Opening Day.

    Many of those fans – more than you might think – are women.

    A 2024 survey found that women made up 39% of those who attended or watched Major League Baseball games, and franchises have taken notice. The Philadelphia Phillies offer behind-the-scenes tours and clinics for their female fans, while the Boston Red Sox and New York Yankees offer fantasy camps that are geared to women.

    The number of women working professionally in baseball has also grown. Kim Ng made history in 2020 when she became the first woman general manager of an MLB team, the Miami Marlins. As of 2023, women made up 30% of central office professional staff and 27% of team senior administration jobs. In addition, 43 women held coaching and managerial jobs across the major and minor league levels – a 95% increase in just two years.

    As a fan and scholar of the game, I’m happy to see more women watching baseball and working in the industry. But it still nags at me that the girls and women who play baseball don’t get much recognition, particularly in the U.S.

    Women take the field

    In the U.S., baseball is seen as a sport for boys and men. Girls and women, on the other hand, are supposed to play softball, which uses a bigger ball and has a smaller field.

    It wasn’t always this way.

    Women have been playing baseball in the U.S. since at least the 1860s. At women’s colleges such as Smith and Vassar, students organized baseball teams as early as 1866. The first professional women’s baseball team was known as the Dolly Vardens, a team of Black players formed in Philadelphia in 1867. Barnstorming teams, known as Bloomer Girls, traveled across the country to play against men’s teams from the 1890s to the 1930s, providing the players with independence and the means to make a living.

    American women have been playing baseball since at least the 1860s.
    Ullstein Bild/Getty Images

    The All-American Girls Professional Baseball League, founded by Philip K. Wrigley in 1943, also offered women the chance to play professionally. The league, which inspired the 1992 film “A League of Their Own,” enforced rigid norms of femininity expected at the time. Players were required to wear skirts and makeup while playing and were fined if they engaged in any behavior deemed “unladylike.” Teams were open only to white women and light-skinned Latinas. Black women were not allowed to play, a policy that reflected the segregation of the Jim Crow era.

    Three Black women – Connie Morgan, Mamie “Peanut” Johnson and Toni Stone – did play in the otherwise male Negro Leagues in the early 1950s. However, their skills were often downplayed by claims that they’d been signed to generate ticket sales and boost interest in the struggling league.

    The All-American Girls Professional Baseball League folded in 1954, and by the late-1950s women’s participation in baseball had dwindled.

    Girls funneled into softball

    Softball was invented in Chicago in 1887 as an indoor alternative to baseball.

    Originally aimed at both men and women, it eventually became the accepted sport for girls and women due to its smaller field, larger ball and underhand pitching style – aspects deemed suitable for the supposedly weaker and more delicate female body.

    The passage of Title IX in 1972 further pushed the popularization of fast-pitch softball, as participation in high school and college increased markedly. In 1974, the National Organization for Women filed a lawsuit against Little League Baseball because the league’s charter excluded girls from playing. The lawsuit was successful, and girls were permitted to join teams.

    In response, Little League created Little League Softball as a way to funnel girls into softball instead of baseball. As political scientist Jennifer Ring has pointed out, this decision reinforced the gendered division of each sport and “cemented the post-Title IX segregated masculinity of baseball.”

    Girls can still play baseball, but most are encouraged to eventually switch to softball if they want to pursue college scholarships. If they want to keep playing baseball, they have to constantly confront stubborn cultural beliefs and assumptions that they should be playing softball instead.

    Instead of encouraging girls to play baseball, Little League launched Little League Softball to direct girls away from the sport.
    Chris Ryan/Corbis via Getty Images

    A global game

    You might be surprised to learn that the U.S. fields a national women’s baseball team that competes in the Women’s Baseball World Cup. But they receive scant media attention and remain unknown to most baseball fans.

    In a 2019 article published in the Journal of Sport and Social Issues, I argued that the U.S. has experienced inconsistent success on the global stage because of a lack of infrastructure, limited resources and persistent gendered assumptions that hamper the development of women’s baseball. Other countries such as Japan, Canada and Australia have established solid pathways that allow girls and women to pursue baseball from the youth level through high school and beyond.

    That being said, opportunities for girls to play baseball are increasing in the U.S. thanks to the efforts of organizations such as Baseball for All and DC Girls Baseball.

    Approximately 1,300 girls play high school baseball, and a handful of young women play on men’s college baseball teams each year. In recent years, numerous women’s collegiate club baseball teams have been established; there’s even an annual tournament to crown a national champion.

    Japanese pitcher Yukari Isozaki competes during the 2010 Women’s Baseball World Cup in Venezuela.
    AP Photo/Fernando Llano

    Pro league in the works

    Momentum continues to build.

    MLB recently appointed Veronica Alvarez as its first girls baseball ambassador, who will oversee development programs such as the Trailblazers Series and the Elite Development Invitational. A new documentary film, “See Her Be Her,” is touring the country to celebrate the growth of women’s baseball and raise awareness of the challenges these athletes face.

    Perhaps most significantly, the Women’s Pro Baseball League announced that it is planning to start play in summer 2026 with six teams located in the northeastern U.S. Over 500 players from 11 countries have registered with the league, with a scouting camp and player draft scheduled for later this year.

    Should the league have success, it will mark a revitalization of women’s professional baseball in the U.S., a nod to the rich history of the women’s game and a commitment to securing opportunities for the girls and women who continue to defy cultural norms to play the game they love.

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

    – ref. Women are reclaiming their place in baseball – https://theconversation.com/women-are-reclaiming-their-place-in-baseball-252590

    MIL OSI – Global Reports –

  • MIL-OSI Global: Wild marmots’ social networks reveal controversial evolutionary theory in action

    Source: The Conversation – USA – By Conner Philson, Executive Director, UCSB Natural Reserve System, University of California, Santa Barbara

    A small group of wild yellow-bellied marmots near the Rocky Mountain Biological Laboratory in Colorado. D.T. Blumstein

    It probably feels obvious that having a close friend can influence your well-being. But do the groups that you’re a part of also affect your well-being? For example, does the culture of your work colleagues influence your productivity?

    It may seem like the answer is also an obvious “yes.” But the idea that a group’s composition or structure can affect the individuals in it has been among the most controversial ideas in biology.

    This phenomenon, called multilevel selection, is an extension of natural selection: the process by which organisms with traits better suited to their environment are more likely to survive and reproduce. Over generations, these advantageous traits – behavioral, morphological or physiological – become more common in the population.

    In the traditional view of how evolution works, natural selection acts on an individual organism’s traits. For instance, mammals with more friends typically live longer lives and have more offspring. The trait under selection in this case is the number of social connections.

    Multilevel selection proposes that at the same time selection is happening on the traits of individuals, selection also acts on the traits of groups. Here’s an example: Living in a more social and interconnected group may be beneficial for the members of that group, meaning the group’s traits are under selection. In nature, this means individuals in well-connected groups may live longer lives and have more offspring because well-connected groups may be better at finding limited resources or detecting predators. The traits of the group as a whole are what’s under selection in this case.

    Multilevel selection could even select for traits that seem at odds at the individual and group levels. For instance, it could mean that selection favors individuals that are more reserved while at the same time favoring groups that are very social, or vice versa.

    Multilevel selection has been a controversial idea since Charles Darwin first suggested that groups likely affect individuals in his 1871 book “The Descent of Man.”

    The only evidence for multilevel selection acting simultaneously on individuals’ social relationships and on social groups comes from laboratory experiments. Experiments like these are vital to the scientific process, but without evidence for multilevel selection in wild animals, the 154-year-old debate rages on. As two field biologists interested in the evolution of behavior, we investigated multilevel selection in the wild by studying yellow-bellied marmots.

    Our newly published study provides support for this contested concept, suggesting that the structure of the groups marmots are members of may matter for survival just as much as, if not more than, the friendly one-on-one relationships they have with other marmots.

    Conner Philson observing the marmots’ social behavior.
    G. Johnson

    Spying on marmots’ social lives

    It’s taken a century and a half to answer the question of multilevel selection because you need an incredible amount of data to have an adequate sample size to address it.

    Scientists at the Rocky Mountain Biological Laboratory in Crested Butte, Colorado, have been studying the marmots nearby since 1962. This research is the second-longest study of individually identifiable wild mammals in the world.

    Each year, the team ensures that all marmots are individually marked. We trap them so we can give them unique ear tags and paint a mark on their back that lets us identify them from afar. Then trained “marmoteers,” as we call them, spend about 1,000 hours a year watching these chunky cat-sized rodents through binoculars and spotting scopes.

    Since 2003, the team has paid particular attention to the marmots’ social interactions and relationships. Our analysis of multilevel selection was based on 42,369 unique affiliative social interactions – behaviors such as playing and grooming – between 1,294 individuals from 180 social groups, with group sizes ranging from two to 35 marmots. We also tracked how long marmots lived – up to 16 years in some cases – and how many offspring individual animals had each year.

    Using this data, we mapped out the marmots’ social networks. Our goal was to identify how many social relationships each marmot had, who was connected to whom, and the overall structure of each group.

    From year to year, marmots formed different small social networks, connecting with various other individuals.
    Maldonado-Chaparro et al, Behavioral Ecology, 2015.

    Understanding all these marmot connections let us ask two crucial questions. First, how do social relationships affect individual survival and reproduction – that is, what individual traits are under selection? Second, how do social groups affect individual survival and reproduction – in other words, what group traits are under selection?

    Importantly, we didn’t ask these two questions in isolation – we asked them at the same time. After all, marmots are influenced simultaneously by both their social relationships and the social groups they’re part of. Our statistical approach, which researchers call contextual analysis, tells us how much social relationships and social groups matter relative to each other.

    New evidence changes the debate

    It can be tricky to distinguish how group-level selection differs from traditional individual-level selection. It’s like a more complex version of thinking about the relationships that affect an individual. Instead of just your own behavior affecting you, your group – a product of many individuals – is affecting you.

    Our new analysis shows that there is indeed multilevel selection for social behavior in the wild. We found that not only do both social relationships and social groups affect individual animals’ survival and reproduction, but social groups matter just as much, if not more. We calculated the selection gradient, a measure of how strong the selection is on a trait, to be 0.76 for individual traits, while for group traits it was 1.03.

    Four juvenile yellow-bellied marmots play together.
    D.T. Blumstein

    Interestingly, the type of impact on survival and reproduction wasn’t always the same across the two levels. In some cases, selection favored marmots with fewer social relationships while favoring marmots living in more social and connected groups. In human terms, think of an introvert at a really bustling party.

    Evolution and multilevel selection are complex natural processes, so these types of complicated findings are not unexpected.

    Multilevel selection is relevant for human groups, too, which come in many forms, whether friend groups, local communities, businesses we frequent or work at, economies or even entire nations. Our marmot study suggests it’s not uniquely human for groups at every level to have consequences for individual success.

    This work was supported by the UCLA, American Society of Mammalogists, Animal Behaviour Society, Rocky Mountain Biological Laboratory (RMBL), the Natural Sciences and Engineering Research Council of Canada, the University of Ottawa, National Geographic Society, and the U.S. National Science Foundation.

    Daniel T. Blumstein received funding from UCLA, the Rocky Mountain Biological Laboratory (RMBL), the National Geographic Society, and the U.S. National Science Foundation. He is the President of the Board of Trustees at the RMBL where the research was conducted.

    – ref. Wild marmots’ social networks reveal controversial evolutionary theory in action – https://theconversation.com/wild-marmots-social-networks-reveal-controversial-evolutionary-theory-in-action-252710

    MIL OSI – Global Reports –

  • MIL-OSI Security: Cadotte Lake — Peace Regional RCMP lay charges after firearm complaint

    Source: Royal Canadian Mounted Police

    On Jan. 31, 2025, at approximately 10 a.m., Peace Regional RCMP responded to a report that a male may be in the area of the first entrance of Cadotte Lake, and was said to have a firearm.

    The RCMP’s Crime Reduction Team was near the area with Police Dog Services, assisting Peace Regional RCMP members, and quickly secured the area, ensuring the safety of community members in this area.

    RCMP learned of a new location of the suspect and attended a residence in the area of Simon Lake, Alta. Here, RCMP contained the residence, where they located a 26-year-old individual, a resident of Simon Lake.

    The individual was charged with: aggravated assault, unauthorized possession of a firearm, possession of weapon for dangerous purpose, possession of firearm when unauthorized and four counts of resisting/obstructing a police officer, as well as two warrants, for assault causing bodily harm and uttering threats.

    The individual was brought before a justice of the peace, where they were remanded with a court date of Feb. 3, 2025, at the Alberta Court of Justice in Peace River, Alta.

    RCMP were able to seize a sawed-off shotgun and ammunition.

    This investigation is still ongoing, and the RCMP would like to extend gratitude to community members for their assistance thus far.

    The Peace Regional RCMP is seeking the public’s assistance in identifying the location of, or sightings of crimes in the area. Anyone with information in relation to any firearms related crimes is asked to please contact the Peace Regional RCMP at 780-624-6611 or your local police. If you wish to remain anonymous, you can contact Crime Stoppers at 1-800-222-8377 (TIPS), online at www.P3Tips.com or by using the “P3 Tips” app available through the Apple App or Google Play Store.

    MIL Security OSI –

  • MIL-OSI Security: Didsbury — Didsbury RCMP and Airdrie Crime Reduction Unit charge male with numerous drug offences

    Source: Royal Canadian Mounted Police

    On Oct. 16, 2024, Didsbury RCMP initiated an investigation after information was received that suspects were using a butane extractor as well as in possession of multiple controlled substances. Didsbury RCMP requested assistance from Airdrie RCMP Crime Reduction Unit (CRU).

    The investigation resulted in two search warrants being executed. With the assistance of the RCMP’s Clandestine Lab Enforcement and Response (CLEAR) Team, Didsbury RCMP and Old’s CRU, a search warrant was executed at a residence in Carstairs, Alta. while Airdrie CRU executed a search warrant at an Airdrie business.

    During the search of the Carstairs residence, a butane extractor (called a BHO lab by CLEAR) was located. This extractor is volatile in nature if not monitored/operated correctly, and possessed an explosion/fire risk to the public of Carstairs. Also seized at this residence was the following:

    • Approximately 250 illicit cannabis plants
    • Approximately 10 pounds of psilocybin (magic mushrooms)
    • Three firearms
    • A taser
    • Multiple ounces of cannabis extracts

    During the search of the Airdrie business, a male suspect was arrested. At the time the suspect was in possession of the following:

    • 55.9 grams suspected cocaine, pre-packaged for 3 individual sales;
    • 6.4 grams of suspected MDMA, pre-packaged for 13 individual sales;
    • Approx. 48 grams of suspected psilocybin mushrooms
    • Assorted regulated CBD/THC products (balms and tinctures);
    • 26 packages of illicit cannabis edibles;
    • Approx. 1.3 kgs of cannabis believed to be possessed for illicit sales;
    • 567 g of suspected hash believed to be possessed for illicit sales;
    • Approx. 160 grams of suspected cannabis extracts believed to be possessed for illicit sales;
    • A taser

    A 59-year-old individual, a resident of Carstairs, has been charged with the following:

    • Assault
    • Uttering threats (x2)
    • Trafficking Controlled Substance (MDMA)
    • Possession of a prohibited weapon knowing its possession is unauthorized (Taser)
    • Possession of property obtained by crime
    • Possession of a prohibited weapon contrary to Order (x3)
    • Careless use (storage) of a firearm (x2)
    • Possession of a firearm knowing its possession is unauthorized (x2)
    • Possession for the purpose of trafficking (PPT) controlled substance (x4) Cocaine, Psilocybin and MDMA
    • Making shatter with the use of butane (production of cannabis by the use of an organic solvent) – S.12(1)(B) Cannabis Act (CA)
    • Possessing shatter made personally (not made by governing body) – Sec. 8(1)(b) Cannabis Act.
    • Trafficking (sell) illicit Cannabis – Sec. 10(1)(a) CA.
    • Possession for the purpose of trafficking (selling) illicit Cannabis – Sec. 10(2) CA.
    • An organization is prohibited from possessing cannabis – Sec. 8(1)(f) CA

    After a judicial interim release hearing, the individual was released on $500 bail to appear in Alberta Court of Justice in Airdrie on April 10, 2025.

    The investigation continues.

    MIL Security OSI –

  • MIL-OSI Security: Milton — RCMP dismantles Cannabis network that had approximately 17,000 illegal plants

    Source: Royal Canadian Mounted Police

    Ontario RCMP have seized and destroyed cannabis grown at three large-scale illegal grow sites. The RCMP’s Greater Toronto Area Trans-National Serious & Organized Crime Section (GTA-TSOC) has charged six individuals for operating a complex illicit cannabis production and distribution network in Ontario.

    This investigation began in the Summer of 2022, after the Ontario Provincial Police (OPP) referred the matter for investigation to the RCMP. During the investigation, approximately 17,000 cannabis plants were seized and destroyed. The RCMP estimate that these operations could have an annual production value of over $16 million dollars. Each of the sites were staffed with full-time live-in workers, none of whom have legal status to work and grow cannabis in Canada. The criminal network was also linked to the operation of two other illicit cannabis production sites in Ontario which were dismantled by the OPP and the Toronto Police Service. The criminal network exported the illicit cannabis to the United States and Hong Kong, with further plans to expand distribution into Europe.

    The RCMP allege millions of dollars in profits from this operation were laundered through the Canadian banking system by a sophisticated identity fraud scheme. They applied for Health Canada authorizations to produce medicinal cannabis using the identity of individuals who were not aware of the applications. These authorizations were then used to obtain commercial leases and expand the group’s cannabis production.

    As a result of the investigation, the following individuals were charged:

    Shao Bo “Barry” Xie (age 45) of Toronto, Ontario

    • Unlawful cultivation of cannabis, contrary to Section 12 of the Cannabis Act (x3);
    • Unlawful possession of cannabis for the purpose of selling, contrary to Section 10 of the Cannabis Act;
    • Conspiracy to cultivate cannabis, contrary to Section 12 of the Cannabis Act and Section 465 of the Criminal Code;
    • Conspiracy to sell cannabis, contrary to Section 10 of the Cannabis Act and Section 465 of the Criminal Code;
    • Conspiracy to export cannabis, contrary to Section 11 of the Cannabis Act and Section 465 of the Criminal Code;
    • Possession of property/proceeds of crime, contrary to Section 354 of the Criminal Code;
    • Conceal/convert proceeds of crime, contrary to Sec 462.31 of the Criminal Code;
    • Identity Theft, contrary to Section 402.1 of the Criminal Code;
    • Use forged document, contrary to Section 368 of the Criminal Code;
    • Make false document, contrary to Section 366 of the Criminal Code;
    • Conspiracy to impersonate for advantage, contrary to Section 403 and Section 465 of the Criminal Code; and
    • Conspiracy to use forged document, contrary to Section 368 and Section 465 of theCriminal Code.

    Feng Gao (age 42) of Toronto, Ontario

    • Unlawful cultivation of cannabis, contrary to Section 12 of the Cannabis Act;
    • Conspiracy to cultivate cannabis, contrary to Section 12 of the Cannabis Act and Section 465 of the Criminal Code;
    • Conspiracy to sell cannabis, contrary to Section 10 of the Cannabis Act and Section 465 of the Criminal Code;
    • Conspiracy to export cannabis, contrary to Section 11 of the Cannabis Act and Section 465 of the Criminal Code;
    • Possession of property/proceeds of crime, contrary to Section 354 of the Criminal Code;
    • Conceal/convert proceeds of crime, contrary to Sec 462.31 of the Criminal Code;
    • Identity Theft, contrary to Section 402.1 of the Criminal Code;
    • Conspiracy to impersonate for advantage, contrary to Section 403 and Section 465 of the Criminal Code; and
    • Conspiracy to use forged document, contrary to Section 368 and Section 465 of the Criminal Code.

    Shan “Sam” Gao (age 34) of Toronto, Ontario

    • Unlawful cultivation of cannabis, contrary to Section 12 of the Cannabis Act;
    • Conspiracy to cultivate cannabis, contrary to Section 12 of the Cannabis Act and Section 465 of the Criminal Code;
    • Conspiracy to sell cannabis, contrary to Section 10 of the Cannabis Act and Section 465 of the Criminal Code;
    • Conspiracy to export cannabis, contrary to Section 11 of the Cannabis Act and Section 465 of the Criminal Code;
    • Possession of property/proceeds of crime, contrary to Section 354 of the Criminal Code;
    • Use forged document, contrary to Section 368 of the Criminal Code;
    • Make false document, contrary to Section 366 of the Criminal Code;
    • Conspiracy to impersonate for advantage, contrary to Section 403 and Section 465 of the Criminal Code; and
    • Conspiracy to use forged document, contrary to Section 368 and Section 465 of the Criminal Code.

    Xu Han (age 26) of Toronto, Ontario

    • Unlawful cultivation of cannabis, contrary to Section 12 of the Cannabis Act;
    • Conspiracy to cultivate cannabis, contrary to Section 12 of the Cannabis Act and Section 465 of the Criminal Code;
    • Conspiracy to sell cannabis, contrary to Section 10 of the Cannabis Act and Section 465 of the Criminal Code;
    • Conspiracy to export cannabis, contrary to Section 11 of the Cannabis Act and Section 465 of the Criminal Code;
    • Possession of property/proceeds of crime, contrary to Section 354 of the Criminal Code;
    • Conspiracy to impersonate for advantage, contrary to Section 403 and Section 465 of the Criminal Code; and
    • Conspiracy to use forged document, contrary to Section 368 and Section 465 of the Criminal Code.

    Fang Han (age 30) of Toronto, Ontario

    • Unlawful cultivation of cannabis, contrary to Section 12 of the Cannabis Act;
    • Conspiracy to cultivate cannabis, contrary to Section 12 of the Cannabis Act and Section 465 of the Criminal Code;
    • Conspiracy to sell cannabis, contrary to Section 10 of the Cannabis Act and Section 465 of the Criminal Code;
    • Conspiracy to export cannabis, contrary to Section 11 of the Cannabis Act and Section 465 of the Criminal Code;
    • Possession of property/proceeds of crime, contrary to Section 354 of the Criminal Code; and
    • Conceal/convert proceeds of crime, contrary to Sec 462.31 of the Criminal Code.

    Zdena “Denise” Mesko (age 61) of Sarnia, Ontario

    • Identity Theft, contrary to Section 402.1 of the Criminal Code;
    • Use forged document, contrary to Section 368 of the Criminal Code;
    • Possession of property/proceeds of crime, contrary to Section 354 of the Criminal Code;
    • Conspiracy to impersonate for advantage, contrary to Section 403 and Section 465 of the Criminal Code; and
    • Conspiracy to use forged document, contrary to Section 368 and Section 465 of the Criminal Code

    All of the accused were arrested at the RCMP Toronto West Detachment and released on an undertaking. Their first court appearance is scheduled to be held on May 7th, 2025, at the Ontario Court of Justice located at 10 Armoury Street in Toronto, Courtroom 1001 at 09:00 a.m.

    The RCMP would like to thank a number of law enforcement and partner agencies including the Ontario Provincial Police-led Provincial Joint Forces Cannabis Enforcement Team (OPP-PJFCET), Peel Regional Police Service (PRPS), Toronto Police Service (TPS), Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), Canada Border Services Agency (CBSA), Health Canada, and the United States Homeland Security Investigations (HSI).

    “The collaboration and teamwork between the RCMP Federal Police and our provincial and municipal law enforcement partners underscores our collective commitment to battling transnational organized crime at all levels in Ontario, Canada and abroad.”
    Inspector Nicole Noonan, Officer in charge of Federal Policing – Transnational, Serious & Organized Crime, Toronto West Detachment, Royal Canadian Mounted Police

    Law enforcement agencies work diligently to make our communities a safer place to live but your assistance in remaining vigilant and informing us of any suspicious activities will help us be even more effective. If you have any information in relation to illicit cannabis production, you can contact your local police, the Ontario RCMP at 1-800-387-0020 or anonymously through Crime Stoppers at 1-800-222-8477 (TIPS), at any time.

    MIL Security OSI –

  • MIL-OSI: Altus Group Releases Its 2025 Canadian Cost Guide

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, March 27, 2025 (GLOBE NEWSWIRE) — Altus Group Limited (“Altus Group” or the “Company”) (TSX: AIF), a leading provider of asset and fund intelligence for commercial real estate (“CRE”), today released its 2025 Canadian Cost Guide, an annual assessment of real estate development and infrastructure construction hard costs across all asset classes in major Canadian cities.

    For decades, industry professionals have relied on Altus Group’s Cost Guide to enhance the accuracy and predictability of construction cost estimates and evaluate project risks. Leveraging Altus’ insights from over 6,200 development projects spanning over 1.5 million square feet with a collective value exceeding C$521 billion, the Cost Guide covers hard costs of real estate development and infrastructure projects, delivering detailed insights by asset class, city, and on a per-square-foot or per-unit basis. Construction costs are influenced by both global and local economic conditions, market trends and advancements in building materials, practices and methods. The Cost Guide takes these factors into account to provide a resource for initial budgeting or as a benchmark for estimating costs across various regions and building types.

    “The 2025 Canadian Cost Guide shows that cost increases have been leveling off over the past year and are now more in line with general inflation,” said Colin Doran, Head of Development Advisory, Americas at Altus Group. “The big question is whether that stability will hold. With shifting trade policies, upcoming building code changes, and labour negotiations on the horizon, developers are facing a new wave of complexity—and that’s on top of already high construction costs. Staying agile and tapping into real-time data will be key to navigating what’s ahead.”

    “The threat of new tariffs could throw a wrench into the 2025 cost outlook,” added Peter Norman, Vice President and Economic Strategist at Altus Group. “Even if the immediate impact is muted, it’s still a wild card. It really depends on what goods are affected, how long tariffs stick around, and whether there’s any retaliation—all of which could drive costs even higher.”

    A copy of Altus Group’s 2025 Canadian Cost Guide can be downloaded here. To read an article with commentary on the 2025 Cost Guide from our experts, click here.

    The Cost Guide is for informational purposes only; readers are advised to consult with a qualified professional for advice on specific projects.

    About Altus Group

    Altus Group is a leading provider of asset and fund intelligence for commercial real estate. We deliver intelligence as a service to our global client base through a connected platform of industry-leading technology, advanced analytics, and advisory services. Trusted by the largest CRE leaders, our capabilities help commercial real estate investors, developers, lenders, and advisors manage risks and improve performance returns throughout the asset and fund lifecycle. Altus Group is a global company headquartered in Toronto with approximately 1,900 employees across North America, EMEA and Asia Pacific. For more information about Altus (TSX: AIF) please visit altusgroup.com.

    FOR FURTHER INFORMATION PLEASE CONTACT:

    Elizabeth Lambe
    Director, Global Communications, Altus Group
    (416) 641-9787
    elizabeth.lambe@altusgroup.com

    The MIL Network –

  • MIL-OSI: TransUnion Study Finds U.S. Data Breach Severity Reaches New High

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, March 27, 2025 (GLOBE NEWSWIRE) — Despite the volume of U.S. data breaches declining in 2024 from highs reached a year prior, data breach severity reached levels never seen since TransUnion’s measurement began in 2020. These findings were revealed as part of the newly-released TransUnion® (NYSE: TRU)  H1 2025 Update to the State of Omnichannel Fraud Report.

    In 2024, the number of primary data breaches dipped to 2,577 from 2,842 the year prior, while third-party data breaches fell precipitously to 515 from 2,731 in 2023. However, the severity of those data breaches increased by 34% from one year earlier, with the primary US Breach Risk Score (BRS)1 rising from 4.1 to 5.6 and third party rising from 4.2 to 5.2. Breach Risk Score is measured on a 1–10 scale, where 1 represents the least severe and 10 most.

    A primary data breach represents a direct attack on an organization. A third-party data breach, also known as a supply-chain attack, value-chain attack, or backdoor breach, is when an attacker accesses an entity’s network via third-party vendors or suppliers — payroll processing or medical billing, for instance.

    The study found that the 2024 U.S. data breaches targeted more high-quality credentials, and consumers reported being targeted by data harvesting scams in every channel, including email, text, phone and online. Exposed identity data enables cybercriminals to power automated, identity-based attacks on organizations and individuals more readily.

    “The reversal of the multi-year U.S. data breach growth is certainly a step in the right direction. However, the significant jump in data breach severity is a cause for concern,” said Steve Yin, global head of fraud at TransUnion. “Breach severity is a leading indicator of future fraud. This year’s growth in severity means organizations must be even more diligent moving forward and work even harder to defend against the oncoming identity fraud attacks such as those in account creations, social engineering scams, and account takeovers.”

    _______________
    1 The BRS is based on the quantity and severity of the particular identity credentials the affected entity determined to have been exposed.

    While U.S. Data Breach Volume Ticked Down in 2024, Data Breach Severity Reached Record Levels
     
      2020 2021 2022 2023 2024
    Volume
    Primary data Breaches 1,248 1,841 1,834 2,842 2,577
    Third-party data breaches 689 567 1,757 2,731 515
    Average Breach Risk Score
    Primary data Breaches 3.9 4.0 4.0 4.1 5.6
    Third-party data breaches 2.8 3.1 3.4 4.2 5.2
    Source: TransUnion TruEmpower™
     

    These data breaches played a key role in significant financial losses faced by consumers due to fraud. Among consumers TransUnion surveyed in 18 countries and regions in November and December 2024, 29% said they lost money due to online, email, phone or text message fraud in the last year. The newly-released TransUnion (NYSE: TRU) H1 2025 Update to the State of Omnichannel Fraud Report found that the median amount those consumers said they lost due to fraud in the past year was $1,747.

    Communities and Video Gaming Among Top Industries Targeted by Suspected Digital Fraud Globally
    Communities, which include venues such as online dating and forums, had the highest rate of suspected digital fraud2 attempts globally in 2024. Nearly 12% of all attempted communities transactions were suspected to be digital fraud last year. This is closely followed by video gaming (11%), with gaming (including online betting, poker, etc.) at 8% and retail (8%) rounding out the top four.

    The logistics industry, which has seen growth in shipping fraud (often perpetrated by organized crime rings), saw the greatest suspected digital fraud volume growth globally in 2024, up more than 100% over 2023. That being said, the fraud rate remains at a relatively modest 3%. Gaming also saw a significant year-over-year (YoY) volume change, up 20%. Telecommunications (-79%), insurance (-29%) and video gaming (-23%) saw the greatest decreases in suspected digital fraud volume YoY.

    “Digital fraud on community platforms is by no means a new phenomenon. However, in 2024, it appears that fraudsters targeted these areas with a renewed vigor,” said Richard Tsai, senior director of global fraud solutions at TransUnion. “Cybercriminals, taking advantage of the trust inherent on community-based platforms, targeted members with a wide range of scammer solicitations, the most reported type of digital fraud in communities.”

    For transactions where the consumer or fraudster was located in the U.S., gaming continues to see the highest suspected digital fraud rate. About 14% of attempted transactions were suspected to be digital fraud, roughly the same as 2023. This marks the fifth consecutive year since TransUnion began research on this metric five years ago, where 13% or more of attempted gaming transactions in the U.S. were suspected to be digital fraud.

    _______________
    2 The rate or percentage of suspected digital fraud attempts reflects those which TransUnion customers determined met one of the following conditions: 1) denial in real time due to fraudulent indicators, 2) denial in real time for corporate policy violations, 3) fraudulent upon customer investigation, or 4) a corporate policy violation upon customer investigation — compared to all transactions assessed. The country and regional analyses examined transactions in which the consumer or suspected fraudster was located in a select country or region when conducting a transaction. Global statistics represents every country worldwide and not just the select countries and regions.

    Communities Saw the Highest Suspected Digital Fraud Rates in 2024 Globally, While Logistics Saw the Greatest Volume Increase
         
    Industry Suspected digital fraud attempt rate 2024 Change in volume of suspected digital fraud attempts from 2023 to 2024
    Communities (online dating, forums, etc.) 11.6% +9%
    Video gaming 10.8% -23%
    Gaming (online sports betting, poker, etc.) 7.8% +20%
    Retail 7.6% -45%
    Financial services 4.9% +3%
    Telecommunications 3.0% -79%
    Logistics 2.6% +101%
    Insurance 2.0% -29%
    Government 1.7% +6%
    Travel & leisure 0.9% -38%
    Source: TransUnion TruValidate™
         

    As part of the same aforementioned consumer survey, 11% of U.S. respondents indicated that they were targeted by online, email, phone call or text messaging fraud from August to December 2024 and fell victim to it. Four in 10 respondents (41%) indicated that they were aware of being targeted, but did not fall victim. Among those able to identify being targeted, the most commonly reported fraud scheme in the U.S. was smishing. Smishing is a type of phishing that uses text messages to mislead people into giving away personal information. The term combines “SMS” and “phishing”.

    “While cybercriminals will attack at any time using any channel, they appear to focus on channels most popular in the regions they are targeting,” said Yin. “Text messaging remains incredibly popular in the U.S. and, among many demographic groups, is a far more ubiquitous way to communicate with mobile devices than phone calls. As such, it would stand to reason that smishing would be such a common fraud tactic among fraudsters targeting this region.”

    In contrast, nearly half of respondents (48%) indicated that they were not targeted by these types of fraud at all. This raises questions as to whether these respondents were in fact targeted, yet simply unaware.

    India and South Africa Saw the Greatest Percentage of Respondents Falling Victim to Digital Fraud in H2 2024
             
    Country Targeted and fell victim Targeted but didn’t fall victim Not targeted Most reported fraud scheme
    India 13% 41% 46% Identity theft
    South Africa 13% 55% 31% Phishing
    Dominican Republic 12% 24% 64% Vishing
    Kenya 11% 71% 19% Smishing
    Mexico 11% 31% 58% Stolen credit card
    Namibia 11% 52% 37% Vishing
    Philippines 11% 63% 26% Phishing
    Puerto Rico 11% 25% 63% Stolen credit card
    United States 11% 41% 48% Smishing
    Brazil 10% 30% 60% Vishing
    Rwanda 10% 57% 33% Money mule
    Spain 10% 25% 65% Phishing
    Canada 9% 47% 44% Phishing
    Chile 9% 30% 61% Vishing
    Colombia 9% 33% 58% Vishing
    Zambia 9% 70% 21% Smishing
    Hong Kong 6% 45% 48% Phishing
    United Kingdom 6% 44% 50% Phishing
    Source: TransUnion consumer survey
             

    TransUnion came to its conclusions about digital fraud and data breaches based on intelligence from TransUnion TruValidate and TruEmpower respectively.

    Specific country and regional data in the report include the United States, Botswana, Brazil, Canada, Chile, Colombia, the Dominican Republic, Guatemala, Hong Kong, India, Kenya, Mexico, Namibia, the Philippines, Puerto Rico, Rwanda, South Africa, Spain, the United Kingdom and Zambia. Download the TransUnion H1 2025 Update to the State of Omnichannel Fraud Report for more information and insights about the global fraud trends.

    About TransUnion (NYSE: TRU)

    TransUnion is a global information and insights company with over 13,000 associates operating in more than 30 countries. We make trust possible by ensuring each person is reliably represented in the marketplace. We do this with a Tru™ picture of each person: an actionable view of consumers, stewarded with care. Through our acquisitions and technology investments we have developed innovative solutions that extend beyond our strong foundation in core credit into areas such as marketing, fraud, risk and advanced analytics. As a result, consumers and businesses can transact with confidence and achieve great things. We call this Information for Good® — and it leads to economic opportunity, great experiences and personal empowerment for millions of people around the world.

    http://www.transunion.com/business

    Contact       Dave Blumberg
    TransUnion
         
    E-mail   david.blumberg@transunion.com
         
    Telephone   312-972-6646
         

    The MIL Network –

  • MIL-OSI: Element and Arval Celebrate 30 Year Alliance with Release of New Insights Focused on the Future of Fleet and Mobility 

    Source: GlobeNewswire (MIL-OSI)

    • Fleet and mobility stakeholders continue their fleet electrification strategies, with 85 per cent of them now shifting their focus to charging solutions and strategies.
    • 91 per cent of companies anticipate their fleet will either remain stable or grow in the next three years. 
    • Nearly half of the companies recognize that mobility policies and solutions are important levers for talent acquisition and employee retention.

    TORONTO, March 27, 2025 (GLOBE NEWSWIRE) — Element Fleet Management Corp. (TSX:EFN) (“Element” or the “Company”), the largest publicly traded, pure-play automotive fleet manager in the world, together with global alliance partner, Arval, a major player in vehicle leasing and specialist in mobility solutions, are marking the 30th anniversary of the Element-Arval Global Alliance (“EAGA” or the “Alliance”) with new insights published in the 2025 Fleet and Mobility Barometer.

    “Our global alliance uniquely offers our fleet and mobility customers the expertise and relationship management needed to deploy strategies across 55 different countries, ensuring solutions meet local needs and maintain very high quality standards,” says Bart Beckers, Chief Commercial Officer of Arval. “The Element-Arval Global Alliance purpose is to support and assist our international clients to successfully build and run their global fleet strategy.“

    For 30 years the EAGA has been a global leader within fleet and mobility management. To expand its presence in additional geographies, notably in Asia, the Alliance welcomed Sumitomo Mitsui Auto Service (SMAS) in 2023 and now counts eight members. With presence in 55 countries and the Alliance Members managing 4.5 million vehicles, the Alliance delivers comprehensive expertise and resources to empower their international clients across the globe, helping them to manage their fleets at a strategic, tactical, and operational level.

    “We greatly value the extensive relationship we’ve built with Arval and are proud that our global Alliance remains the longest standing across fleet and mobility,” says David Madrigal, Executive Vice President and Chief Commercial Officer. “The insights captured within the annual Fleet and Mobility Barometer we’ve produced together represent one of the many ways we leverage our partnership, shared expertise, and extensive global presence to deliver comprehensive, scalable, and tailored solutions to meet our clients’ needs across the globe.”

    The Fleet and Mobility Barometer (the “Barometer”) is an industry-leading annual publication of the Arval Mobility Observatory and Element-Arval Global Alliance, offering a robust and detailed look into evolving industry trends, and providing country-specific insights, deep-dive policy considerations, as well as industry-leading benchmarking. This year’s report addresses three main areas of fleet and mobility transformation: environmental sustainability, cost efficiency, and employee satisfaction.

    Key insights from the Barometer include:

    1. Companies are overwhelmingly prioritizing environmental sustainability through fleet electrification, with 85 per cent of the companies interviewed having a charging policy or planning to have one in the future. The report also highlights the varying rates of electrification between passenger cars and Light Commercial Vehicles (LCVs), with Europe leading the trend.
    2. Cost efficiency is being observed through innovative methods such as full-service leasing. Despite persistent economic and geopolitical challenges, 91 per cent of companies anticipate their fleet will either remain stable or grow in the next three years.
    3. Employee satisfaction is now at the centre of mobility and fleet transformation, with 45 per cent of companies mentioning human resource needs as the main reason for developing employee mobility policies and solutions. The report emphasizes the key role of telematics and connected vehicle technologies for promoting responsible driving, improving driver behavior, and reducing accidents.

    Initiated by the Arval Mobility Observatory nearly 20 years ago, Element joined the global Barometer in 2023 to expand benchmarking capabilities to include trends across the United States, Canada, Mexico, Australia, and New Zealand. This year’s benchmarking survey involves more than 8,000 interviews with corporate fleet decision-makers across 28 countries and provides a forward-looking perspective on the next three years. 

    To read more about the Element-Arval Global Alliance and the 2025 Fleet and Mobility Barometer, visit Global Fleet Management Solutions | Element-Arval Global Alliance – Element Arval.

    About Element Fleet Management
    Element Fleet Management (TSX: EFN) is the largest publicly traded pure-play automotive fleet manager in the world. As a Purpose-driven company, we provide a full range of sustainable and intelligent mobility solutions to optimize and enhance fleet performance for our clients across North America, Australia, and New Zealand. Our services address every aspect of our clients’ fleet requirements, from vehicle acquisition, maintenance, route optimization, risk management, and remarketing, to advising on decarbonization efforts, integration of electric vehicles and managing the complexity of gradual fleet electrification. Clients benefit from Element’s expertise as one of the largest fleet solutions providers in its markets, offering economies of scale and insight used to reduce operating costs and enhance efficiency and performance. At Element, we maximize our clients’ fleet so they can focus on growing their business. For more information, please visit: www.elementfleet.com

    About Arval:
    Arval is a major actor in full-service vehicle leasing and a specialist in mobility solutions founded in 1989. Arval is fully owned by BNP Paribas and positioned within the Group’s Commercial, Personal Banking & Services division. Arval was leasing nearly 1.8 million vehicles as of the end of 2024. Every day, nearly 8,600 Arval employees in 29 countries offer flexible solutions to make journeys seamless and sustainable for its customers, ranging from large international corporate groups to smaller companies and private customers.

    Arval is a founding member of the Element-Arval Global Alliance. The fleets of all the Alliance members represent more than 4.5 million vehicles in 55 countries.

    Arval has been rewarded with the highest level of the EcoVadis medal, the platinum level, placing its CSR strategy in the Top 1% of the companies assessed.
    www.arval.com

    About BNP Paribas:
    Leader in banking and financial services in Europe, BNP Paribas operates in 64 countries and has nearly 178,000 employees, including more than 144,000 in Europe. The Group has key positions in its three main fields of activity: Commercial, Personal Banking & Services for the Group’s commercial & personal banking and several specialised businesses including BNP Paribas Personal Finance and Arval; Investment & Protection Services for savings, investment and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, the Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy and Luxembourg. The Group is rolling out its integrated commercial & personal banking model across several Mediterranean countries, Türkiye, and Eastern Europe. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group’s performance and stability.
    https://group.bnpparibas/en/

    This press release contains certain forward-looking statements and forward-looking information regarding Element, its business and the fleet industry, which are based upon Element’s current expectations, estimates, projections, assumptions and beliefs. In some cases, words such as “plan”, “expect”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “could”, “predict”, “project”, “model”, “forecast”, “will”, “potential”, “target, “by”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur are intended to identify forward-looking statements and forward-looking information. These statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in the forward-looking statements or information. Forward-looking statements and information in this news release may include, but are not limited to, statements with respect to, among other things, the Company’s expectations regarding new product offerings, including the benefits of the products, client demand and profitability, the Company’s ability to execute on its product plans, and the Company’s expectations regarding the risk and insurance industries. By their nature, these statements require us to make assumptions and are subject to inherent risks and uncertainties that may be general or specific, which give rise to the possibility that our predictions, forecasts, projections, expectations or conclusions will not prove to be accurate, that our assumptions may not be correct. External factors outside of Element’s reasonable control may impact our ability to achieve our goals and expectations, including industry dynamics, legislation and regulatory actions, the failure of third parties to comply with their obligations to us and our affiliates or associates, client decisions and preferences. These and other factors may cause actual results to differ materially from the expectations expressed in the forward-looking statements and may require Element to adjust its initiatives and activities. The forward-looking statements in this news release speak only as of the date hereof and are presented for the purpose of assisting our stakeholders and others in understanding our objectives and strategic priorities and may not be appropriate for other purposes. We do not undertake to update any forward-looking statement except as required by law. In addition, a discussion of some of the material risks affecting Element and its business appears under the heading “Risk Management & Risk Factors” in Element’s Management Discussion and Analysis for the twelve-month period ended December 31, 2023 and the three and nine-month period ended September 30, 2024, and under the heading “Risk Factors” in Element’s Annual Information Form for the year ended December 31, 2023, as well as Element’s other filings with the Canadian securities regulatory authorities, which have been filed on SEDAR+ and can be accessed on Element’s profile on www.sedarplus.com.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/fa484c54-9cb4-4c81-835c-d59ab8841d95

    The MIL Network –

  • MIL-OSI: Brookfield Wealth Solutions Completes Annual Filings

    Source: GlobeNewswire (MIL-OSI)

    BROOKFIELD, NEWS, March 27, 2025 (GLOBE NEWSWIRE) — Brookfield Wealth Solutions Ltd. (NYSE, TSX: BNT) announced today the filing of its 2024 annual report, including audited financial statements for the year ended December 31, 2024, on Form 20-F with the SEC on EDGAR as well as with Canadian securities regulatory authorities on SEDAR+.

    These documents are available at bnt.brookfield.com, on the SEC’s website at www.sec.gov and on Brookfield Wealth Solutions’ SEDAR+ profile at www.sedarplus.ca. Hard copies will be provided to shareholders free of charge upon request.

    About Brookfield Wealth Solutions
    Brookfield Wealth Solutions Ltd. (NYSE, TSX: BNT) is focused on securing the financial futures of individuals and institutions through a range of retirement services, wealth protection products and tailored capital solutions. Each class A exchangeable limited voting share of Brookfield Wealth Solutions is exchangeable on a one-for-one basis with a class A limited voting share of Brookfield Corporation (NYSE, TSX: BN).

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

    Media:
    Kerrie McHugh
    Tel: +1.212.618.3469
    Email: kerrie.mchugh@brookfield.com    		 Investor Relations:
    Rachel Schneider
    Tel: +1.416.369.3358
    Email: rachel.schneider@brookfield.com

    The MIL Network –

  • MIL-OSI Global: Canadians are anxious as they ponder how to vote this election. Which leader can ease their fears?

    Source: The Conversation – Canada – By Lori Turnbull, Professor of Political Science in the Faculty of Management at Dalhousie University, Dalhousie University

    This federal election is being described as the most consequential in modern Canadian history. The country is in a tariff and trade war with its closest ally, the United States, and President Donald Trump is threatening Canada’s sovereignty.

    No wonder Canadians are feeling anxious and fearful. And in times of crisis, people tend to look extra hard for leaders they can trust.

    Liberal Leader Mark Carney, a rookie in politics but an internationally respected economist, is enjoying a wave of momentum. Due to his stints as governor of the Bank of Canada during the 2008-09 financial crash and the Bank of England during Brexit, he’s well-qualified to manage economic roller-coasters. Can his impressive CV help calm the fears of Canadians?

    Conservative Leader Pierre Poilievre, on the other hand, has been connecting with supporters by giving voice to their worries about the economy, jobs, crime and the housing crisis. He’s made people feel heard, but he’s also been accused of building his brand appeal by stoking — rather than soothing — Canadians’ fears about the future.

    Carney’s track record as a fixer could give him the edge now that the election campaign is in full swing and Canada’s fears are being amplified.

    Liberals wildly unpopular

    Before Justin Trudeau announced his plans to leave politics, the next federal election was shaping up to be a showdown between Trudeau and Poilievre, two career politicians with likeability problems and a palpable mutual resentment.

    Each of them often used fear as a tool to warn Canadians about the dangers of electing the other. The mood in the country was sour.

    In July 2024, an Abacus Data poll indicated only 23 per cent of Canadians felt the country was headed in the right direction. The affordability crisis was weighing on people, as 45 per cent of respondents reported having a hard time keeping up with daily expenses due to rising prices.

    The long-standing consensus around the benefits of immigration was crumbling due to the lack of suitable housing for everyone.



    Read more:
    Canada at a crossroads: Understanding the shifting sands of immigration attitudes

    A third of Canadians also self-identified as “political orphans” who felt that none of the political parties truly represented them.

    Most of the public was blaming the Liberals for the broad mismanagement of various important complex policy files, and the Conservatives were the largest beneficiaries of voter frustration. They looked like they had the next election in the bag.

    Dramatically altered landscape

    It’s now March 2025 and the political playing field looks wildly different. Though the aforementioned issues remain salient, Trudeau has resigned and Carney has erased the lead in public support that Poilievre and the Conservatives held not long ago.

    Most polls suggest the parties are in a dead heat while others have Carney pulling ahead. In the hope of winning enough votes to form a majority government — in Carney’s own words, he’s asked the public for a “strong, positive mandate” — he is running on a platform aimed at the political centre to offer a home to those political orphans.

    Carney’s pitching tax cuts, pipeline projects, reduced trade barriers between the provinces and balanced operational spending while running deficits for investments that would grow the economy. He’s done away with the unpopular consumer carbon tax.

    Given that Carney is pulling the Liberals back to the centre, and that there is actually overlap between the Conservatives and the Liberals — both spent the first full day of the campaign promising income tax cuts — it seems the real choice in this election is about leadership rather than dramatically different policy platforms.

    It’s no surprise that Carney’s unique professional experience elevates his bid to be prime minister in the current political climate. So far, he’s been a calm presence amid a volatile and developing storm. Despite Conservative efforts to try to diminish him, his credentials speak for themselves.

    This helps him to build trust among voters. At any other time, his snippiness with the media when asked about his financial holdings might cost him some political capital, but in the current moment, he will likely be given a pass.



    Read more:
    Can Mark Carney truly connect with Canadian voters? Canada will now find out

    Poilievre no longer has Trudeau for a target

    As British Prime Minister Harold Macmillan once explained, politics is about “events, dear boy, events.”

    Much to the certain chagrin of Conservatives, the polls suggest this moment was custom-made for Carney.

    Trump’s attacks and threats against Canadian sovereignty tee up Carney’s pitches for Canada’s economic independence perfectly. His campaign material basically writes itself, and his economic gravitas makes him a solid messenger.

    Carney is both reassuring Canadians in this moment of anxiety as well as tapping into Canadian pride, in his own words and through celebrity proxies like comedian Mike Myers who are helping him reach audiences who tuned out Trudeau a long time ago.

    Mike Myers appears with Mark Carney in this ad on Carney’s YouTube channel.

    This is not to count out Poilievre. With the Conservative base firmly behind him, he could be poised to form a government or keep Carney to a minority.

    But the question on the ballot is no longer about Trudeau — it’s about who Canadians trust to lead them through a disruptive and unpredictable time.

    Poilievre has been working tirelessly for years to position himself as the person for the job.

    But the peculiar circumstances of the moment — and the fear and anxiety that Canadians are having trouble shaking amid Trump’s continuing threats — might drive many voters towards the non-politician whose track record as a fixer gives people the reassurance they are looking for.

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

    – ref. Canadians are anxious as they ponder how to vote this election. Which leader can ease their fears? – https://theconversation.com/canadians-are-anxious-as-they-ponder-how-to-vote-this-election-which-leader-can-ease-their-fears-252701

    MIL OSI – Global Reports –

  • MIL-OSI: YieldMax™ Introduces Short Option Income Strategy ETF on MicroStrategy, Inc. (MSTR)

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO and MILWAUKEE and NEW YORK, March 27, 2025 (GLOBE NEWSWIRE) — YieldMax™ announced the launch today of the following ETF:

    YieldMax™ Short MSTR Option Income Strategy ETF (NYSE: WNTR)

    WNTR Overview

    WNTR is an actively managed ETF that seeks to generate current income from a synthetic covered put strategy on MicroStrategy Incorporated (“MSTR”), while providing indirect short (inverse) exposure to the share price of MSTR. WNTR’s potential for gains from decreases in the share price of MSTR is limited, while its potential for losses resulting from increases in the share price of MSTR is up to 100%. WNTR does not invest directly in MSTR and does not directly short MSTR. Investors seeking direct exposure to the price of MSTR should consider an investment other than this Fund.

    WNTR Portfolio Construction

    WNTR’s synthetic covered put strategy consists of the following four elements:

    • Synthetic short exposure to MSTR, consisting of a long at-the-money put option and a short at-the-money call option, which allows WNTR to seek to participate on an inverse, unleveraged basis in changes, up or down, to the share price of MSTR.
    • Covered put writing (where MSTR put options are sold against the synthetic short portion of the strategy), which allows WNTR to generate income.
    • U.S. Treasuries, which are used for collateral for the options, and which also generate income; and;
    • Out-of-the money (“OTM”) call options, which are purchased to seek to cap WNTR’s potential losses from its short exposure to MSTR if MSTR’s share price appreciates significantly in value.

    The loss capping works only if the MSTR share price rises to or above the strike price of the purchased OTM call options. If the MSTR share price increases but stays below the strike price of these options, WNTR will incur losses proportionate to this price increase, which may be up to 100% of your investment.

    Why Invest in WNTR?

    • WNTR seeks to generate current income, which is not dependent on the price depreciation of MSTR.
    • WNTR seeks to benefit when the MSTR share price decreases, however WNTR’s potential corresponding benefit from decreases in the MSTR share price is limited.
    • WNTR’s short exposure to MSTR is not leveraged so does not result in daily resetting.

    WNTR is the newest member of the growing YieldMax™ ETF family and, like all YieldMax™ ETFs, aims to deliver income to investors. With respect to distributions, WNTR will be a Group D ETF and its first distribution is expected to be announced on May 7, 2025. Please see the table below for distribution information for all outstanding YieldMax™ ETFs as of March 26, 2025.

    ETF Ticker1 ETF Name Distribution Frequency Distribution per Share Distribution Rate2,4 30-Day
    SEC Yield3    		 ROC5
    GPTY YieldMax™ AI & Tech Portfolio Option Income ETF Weekly $0.2787 34.92% 0.00% 98.94%
    LFGY YieldMax™ Crypto Industry & Tech Portfolio Option Income ETF Weekly $0.4749 64.18% 0.00% 0.00%
    QDTY YieldMax™ Nasdaq 100 0DTE Covered Call Strategy ETF Weekly $0.2711 – – 55.02%
    RDTY YieldMax™ R2000 0DTE Covered Call Strategy ETF Weekly $0.3037 – – 100.00%
    SDTY YieldMax™ S&P 500 0DTE Covered Call Strategy ETF Weekly $0.2133 – – 0.00%
    ULTY YieldMax™ Ultra Option Income Strategy ETF Weekly $0.0986 77.95% 0.00% 100.00%
    YMAG YieldMax™ Magnificent 7 Fund of Option Income ETFs Weekly $0.0837 27.95% 61.87% 21.53%
    YMAX YieldMax™ Universe Fund of Option Income ETFs Weekly $0.1315 48.21% 85.03% 61.95%
    BIGY YieldMax™ Target 12™ Big 50 Option Income ETF Monthly $0.5025 12.89% 0.03% 100.00%
    SOXY YieldMax™ Target 12™ Semiconductor Option Income ETF Monthly $0.4883 13.14% 0.00% 50.31%
    ABNY YieldMax™ ABNB Option Income Strategy ETF Every 4 weeks $0.4805 47.62% 2.98% 92.39%
    AIYY YieldMax™ AI Option Income Strategy ETF Every 4 weeks $0.3221 81.94% 4.64% 2.09%
    AMDY YieldMax™ AMD Option Income Strategy ETF Every 4 weeks $0.2533 38.83% 4.02% 92.00%
    AMZY YieldMax™ AMZN Option Income Strategy ETF Every 4 weeks $0.4177 32.58% 3.79% 0.00%
    APLY YieldMax™ AAPL Option Income Strategy ETF Every 4 weeks $0.3440 29.76% 3.15% 87.26%
    BABO YieldMax™ BABA Option Income Strategy ETF Every 4 weeks $0.7578 47.94% 2.36% 0.00%
    CONY YieldMax™ COIN Option Income Strategy ETF Every 4 weeks $0.5989 91.19% 4.56% 94.78%
    CRSH YieldMax™ Short TSLA Option Income Strategy ETF Every 4 weeks $0.6458 126.57% 3.00% 98.10%
    CVNY YieldMax™ CVNA Option Income Strategy ETF Every 4 weeks $3.9149 136.69% 0.00% 96.80%
    DIPS YieldMax™ Short NVDA Option Income Strategy ETF Every 4 weeks $0.5851 59.01% 2.90% 96.87%
    DISO YieldMax™ DIS Option Income Strategy ETF Every 4 weeks $0.2879 25.79% 4.48% 51.26%
    FBY YieldMax™ META Option Income Strategy ETF Every 4 weeks $0.5506 40.70% 3.47% 0.00%
    FEAT YieldMax™ Dorsey Wright Featured 5 Income ETF Every 4 weeks $0.6925 24.43% 122.88% 0.00%
    FIAT YieldMax™ Short COIN Option Income Strategy ETF Every 4 weeks $0.6834 102.31% 3.52% 96.91%
    FIVY YieldMax™ Dorsey Wright Hybrid 5 Income ETF Every 4 weeks $0.7092 24.46% 67.34% 0.00%
    GDXY YieldMax™ Gold Miners Option Income Strategy ETF Every 4 weeks $0.6394 50.58% 3.08% 0.00%
    GOOY YieldMax™ GOOGL Option Income Strategy ETF Every 4 weeks $0.3284 34.06% 4.12% 0.00%
    JPMO YieldMax™ JPM Option Income Strategy ETF Every 4 weeks $0.3717 28.22% 3.40% 42.17%
    MARO YieldMax™ MARA Option Income Strategy ETF Every 4 weeks $1.4783 77.02% 4.21% 95.22%
    MRNY YieldMax™ MRNA Option Income Strategy ETF Every 4 weeks $0.1827 73.97% 5.01% 94.71%
    MSFO YieldMax™ MSFT Option Income Strategy ETF Every 4 weeks $0.2845 22.77% 3.53% 83.81%
    MSTY YieldMax™ MSTR Option Income Strategy ETF Every 4 weeks $1.3775 78.55% 0.21% 97.54%
    NFLY YieldMax™ NFLX Option Income Strategy ETF Every 4 weeks $0.4008 29.98% 3.23% 0.00%
    NVDY YieldMax™ NVDA Option Income Strategy ETF Every 4 weeks $0.7874 60.92% 4.02% 100.00%
    OARK YieldMax™ Innovation Option Income Strategy ETF Every 4 weeks $0.3210 50.64% 3.25% 71.26%
    PLTY YieldMax™ PLTR Option Income Strategy ETF Every 4 weeks $5.3257 103.41% 2.63% 97.91%
    PYPY YieldMax™ PYPL Option Income Strategy ETF Every 4 weeks $0.3773 35.12% 4.20% 90.73%
    SMCY YieldMax™ SMCI Option Income Strategy ETF Every 4 weeks $1.9742 114.93% 2.63% 0.00%
    SNOY YieldMax™ SNOW Option Income Strategy ETF Every 4 weeks $0.8119 64.03% 2.45% 0.00%
    SQY YieldMax™ XYZ Option Income Strategy ETF Every 4 weeks $0.5014 57.37% 5.21% 91.68%
    TSLY YieldMax™ TSLA Option Income Strategy ETF Every 4 weeks $0.4638 70.54% 4.69% 94.16%
    TSMY YieldMax™ TSM Option Income Strategy ETF Every 4 weeks $0.5772 49.14% 3.59% 93.02%
    XOMO YieldMax™ XOM Option Income Strategy ETF Every 4 weeks $0.2950 26.24% 3.38% 77.73%
    YBIT YieldMax™ Bitcoin Option Income Strategy ETF Every 4 weeks $0.4357 55.99% 1.61% 97.70%
    YQQQ YieldMax™ Short N100 Option Income Strategy ETF Every 4 weeks $0.4483 55.99% 3.79% 92.77%


    Performance data quoted represents past performance and is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted above. Performance current to the most recent month-end can be obtained by calling     (833) 378-0717.

    Note: DIPS, FIAT, CRSH, YQQQ and WNTR are hereinafter referred to as the “Short ETFs.”

    Distributions are not guaranteed. The Distribution Rate and 30-Day SEC Yield are not indicative of future distributions, if any, on the ETFs. In particular, future distributions on any ETF may differ significantly from its Distribution Rate or 30-Day SEC Yield. You are not guaranteed a distribution under the ETFs. Distributions for the ETFs (if any) are variable and may vary significantly from period to period and may be zero. Accordingly, the Distribution Rate and 30-Day SEC Yield will change over time, and such change may be significant.

    Investors in the Funds will not have rights to receive dividends or other distributions with respect to the underlying reference asset(s).

    1  All YieldMax™ ETFs shown in the table above (except YMAX, YMAG, FEAT, FIVY and ULTY) have a gross expense ratio of 0.99%. YMAX, YMAG and FEAT have a Management Fee of 0.29% and Acquired Fund Fees and Expenses of 0.99% for a gross expense ratio of 1.28%. FIVY has a Management Fee of 0.29% and Acquired Fund Fees and Expenses of 0.59% for a gross expense ratio of 0.88%. “Acquired Fund Fees and Expenses” are indirect fees and expenses that the Fund incurs from investing in the shares of other investment companies, namely other YieldMax™ ETFs. ULTY has a gross expense ratio after the fee waiver of 1.30%. The Advisor has agreed to a fee waiver of 0.10% through at least February 28, 2026.
    2  The Distribution Rate shown is as of close on March 26, 2025. The Distribution Rate is the annual distribution rate an investor would receive if the most recent distribution, which includes option income, remained the same going forward. The Distribution Rate is calculated by annualizing an ETF’s Distribution per Share and dividing such annualized amount by the ETF’s most recent NAV. The Distribution Rate represents a single distribution from the ETF and does not represent its total return. Distributions may also include a combination of ordinary dividends, capital gain, and return of investor capital, which may decrease an ETF’s NAV and trading price over time. As a result, an investor may suffer significant losses to their investment. These Distribution Rates may be caused by unusually favorable market conditions and may not be sustainable. Such conditions may not continue to exist and there should be no expectation that this performance may be repeated in the future.
    3  The 30-Day SEC Yield represents net investment income, which excludes option income, earned by such ETF over the 30-Day period ended February 28, 2025, expressed as an annual percentage rate based on such ETF’s share price at the end of the 30-Day period.
    4  Each ETF’s strategy (except those of the Short ETFs) will cap potential gains if its reference asset’s shares increase in value, yet subjects an investor to all potential losses if the reference asset’s shares decrease in value. Such potential losses may not be offset by income received by the ETF. Each Short ETF’s strategy will cap potential gains if its reference asset decreases in value, yet subjects an investor to all potential losses if the reference asset increases in value. Such potential losses may not be offset by income received by the ETF.
    5  ROC refers to Return of Capital. The ROC percentage is the portion of the distribution that represents an investor’s original investment.

    Each Fund has a limited operating history and while each Fund’s objective is to provide current income, there is no guarantee the Fund will make a distribution. Distributions are likely to vary greatly in amount.

    Standardized Performance

    For YMAX, click here. For YMAG, click here. For TSLY, click here. For OARK, click here. For APLY, click here. For NVDY, click here. For AMZY, click here. For FBY, click here. For GOOY, click here. For NFLY, click here. For CONY, click here. For MSFO, click here. For DISO, click here. For XOMO, click here. For JPMO, click here. For AMDY, click here. For PYPY, click here. For SQY, click here. For MRNY, click here. For AIYY, click here. For MSTY, click here. For ULTY, click here. For YBIT, click here. For CRSH, click here. For GDXY, click here. For SNOY, click here. For ABNY, click here. For FIAT, click here. For DIPS, click here. For BABO, click here. For YQQQ, click here. For TSMY, click here. For SMCY, click here. For PLTY, click here. For BIGY, click here. For SOXY, click here. For MARO, click here. For FEAT, click here. For FIVY, click here. For LFGY, click here. For GPTY, click here. For CVNY, click here. For SDTY, click here. For QDTY, click here. For RDTY, click here.

    Important Information

    This material must be preceded or accompanied by the prospectus. For all prospectuses, click here.

    Tidal Financial Group is the adviser for all YieldMax™ ETFs.

    THE FUND, TRUST, AND ADVISER ARE NOT AFFILIATED WITH ANY UNDERLYING REFERENCE ASSET.

    Risk Disclosures

    Investing involves risk. Principal loss is possible.

    Referenced Index Risk. The Fund invests in options contracts that are based on the value of the Index (or the Index ETFs). This subjects the Fund to certain of the same risks as if it owned shares of companies that comprised the Index or an ETF that tracks the Index, even though it does not.

    Indirect Investment Risk. The Index is not affiliated with the Trust, the Fund, the Adviser, or their respective affiliates and is not involved with this offering in any way. Investors in the Fund will not have the right to receive dividends or other distributions or any other rights with respect to the companies that comprise the Index but will be subject to declines in the performance of the Index.

    Russell 2000 Index Risks. The Index, which consists of small-cap U.S. companies, is particularly susceptible to economic changes, as these firms often have less financial resilience than larger companies. Market volatility can disproportionately affect these smaller businesses, leading to significant price swings. Additionally, these companies are often more exposed to specific industry risks and have less diverse revenue streams. They can also be more vulnerable to changes in domestic regulatory or policy environments.

    Call Writing Strategy Risk. The path dependency (i.e., the continued use) of the Fund’s call writing strategy will impact the extent that the Fund participates in the positive price returns of the underlying reference asset and, in turn, the Fund’s returns, both during the term of the sold call options and over longer periods.

    Counterparty Risk. The Fund is subject to counterparty risk by virtue of its investments in options contracts. Transactions in some types of derivatives, including options, are required to be centrally cleared (“cleared derivatives”). In a transaction involving cleared derivatives, the Fund’s counterparty is a clearing house rather than a bank or broker. Since the Fund is not a member of clearing houses and only members of a clearing house (“clearing members”) can participate directly in the clearing house, the Fund will hold cleared derivatives through accounts at clearing members.

    Derivatives Risk. Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, or funds (including ETFs), interest rates or indexes. The Fund’s investments in derivatives may pose risks in addition to, and greater than, those associated with directly investing in securities or other ordinary investments, including risk related to the market, imperfect correlation with underlying investments or the Fund’s other Index (or ETFs that track the Index’s performance)holdings, higher price volatility, lack of availability, counterparty risk, liquidity, valuation and legal restrictions.

    Options Contracts. The use of options contracts involves investment strategies and risks different from those associated with ordinary Index (or ETFs that track the Index’s performance) securities transactions. The prices of options are volatile and are influenced by, among other things, actual and anticipated changes in the value of the underlying instrument, including the anticipated volatility, which are affected by fiscal and monetary policies and by national and international political, changes in the actual or implied volatility or the reference asset, the time remaining until the expiration of the option contract and economic events.

    Distribution Risk. As part of the Fund’s investment objective, the Fund seeks to provide current income. There is no assurance that the Fund will make a distribution in any given period. If the Fund does make distributions, the amounts of such distributions will likely vary greatly from one distribution to the next. Additionally, monthly distributions, if any, may consist of returns of capital, which would decrease the Fund’s NAV and trading price over time.

    High Index (or Index ETF) Turnover Risk. The Fund may actively and frequently trade all or a significant portion of the Fund’s holdings. A high Index (or Index ETF) turnover rate increases transaction costs, which may increase the Fund’s expenses.

    Liquidity Risk. Some securities held by the Fund, including options contracts, may be difficult to sell or be illiquid, particularly during times of market turmoil.

    Non-Diversification Risk. Because the Fund is “non-diversified,” it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund.

    New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.

    Price Participation Risk. The Fund employs an investment strategy that includes the sale of call option contracts, which limits the degree to which the Fund will participate in increases in value experienced by the underlying reference asset over the Call Period.

    Inflation Risk. Inflation risk is the risk that the value of assets or income from investments will be less in the future as inflation decreases the value of money. As inflation increases, the present value of the Fund’s assets and distributions, if any, may decline.

    Single Issuer Risk. Issuer-specific attributes may cause an investment in the Fund to be more volatile than a traditional pooled investment which diversifies risk or the market generally. The value of the Fund, which focuses on an individual security (ARKK, TSLA, AAPL, NVDA, AMZN, META, GOOGL, NFLX, COIN, MSFT, DIS, XOM, JPM, AMD, PYPL, SQ, MRNA, AI, MSTR, Bitcoin ETP, GDX®, SNOW, ABNB, BABA, TSM, SMCI, PLTR, MARA, CVNA), may be more volatile than a traditional pooled investment or the market as a whole and may perform differently from the value of a traditional pooled investment or the market as a whole.

    Risk Disclosures (applicable only to GPTY)

    Artificial Intelligence Risk. Issuers engaged in artificial intelligence typically have high research and capital expenditures and, as a result, their profitability can vary widely, if they are profitable at all. The space in which they are engaged is highly competitive and issuers’ products and services may become obsolete very quickly. These companies are heavily dependent on intellectual property rights and may be adversely affected by loss or impairment of those rights. The issuers are also subject to legal, regulatory and political changes that may have a large impact on their profitability. A failure in an issuer’s product or even questions about the safety of the product could be devastating to the issuer, especially if it is the marquee product of the issuer. It can be difficult to accurately capture what qualifies as an artificial intelligence company.

    Technology Sector Risk. The Fund will invest substantially in companies in the information technology sector, and therefore the performance of the Fund could be negatively impacted by events affecting this sector. Market or economic factors impacting technology companies and companies that rely heavily on technological advances could have a significant effect on the value of the Fund’s investments. The value of stocks of information technology companies and companies that rely heavily on technology is particularly vulnerable to rapid changes in technology product cycles, rapid product obsolescence, government regulation and competition, both domestically and internationally, including competition from foreign competitors with lower production costs. Stocks of information technology companies and companies that rely heavily on technology, especially those of smaller, less-seasoned companies, tend to be more volatile than the overall market. Information technology companies are heavily dependent on patent and intellectual property rights, the loss or impairment of which may adversely affect profitability.

    Risk Disclosure (applicable only to MARO)

    Digital Assets Risk: The Fund does not invest directly in Bitcoin or any other digital assets. The Fund does not invest directly in derivatives that track the performance of Bitcoin or any other digital assets. The Fund does not invest in or seek direct exposure to the current “spot” or cash price of Bitcoin. Investors seeking direct exposure to the price of Bitcoin should consider an investment other than the Fund. Digital assets like Bitcoin, designed as mediums of exchange, are still an emerging asset class. They operate independently of any central authority or government backing and are subject to regulatory changes and extreme price volatility.

    Risk Disclosures (applicable only to BABO and TSMY)

    Currency Risk: Indirect exposure to foreign currencies subjects the Fund to the risk that currencies will decline in value relative to the U.S. dollar. Currency rates in foreign countries may fluctuate significantly over short periods of time for a number of reasons, including changes in interest rates and the imposition of currency controls or other political developments in the U.S. or abroad.

    Depositary Receipts Risk: The securities underlying BABO and TSMY are American Depositary Receipts (“ADRs”). Investment in ADRs may be less liquid than the underlying shares in their primary trading market.

    Foreign Market and Trading Risk: The trading markets for many foreign securities are not as active as U.S. markets and may have less governmental regulation and oversight.

    Foreign Securities Risk: Investments in securities of non-U.S. issuers involve certain risks that may not be present with investments in securities of U.S. issuers, such as risk of loss due to foreign currency fluctuations or to political or economic instability, as well as varying regulatory requirements applicable to investments in non-U.S. issuers. There may be less information publicly available about a non-U.S. issuer than a U.S. issuer. Non-U.S. issuers may also be subject to different regulatory, accounting, auditing, financial reporting and investor protection standards than U.S. issuers.

    Risk Disclosures (applicable only to GDXY)

    Risk of Investing in Foreign Securities. The Fund is exposed indirectly to the securities of foreign issuers selected by GDX®’s investment adviser, which subjects the Fund to the risks associated with such companies. Investments in the securities of foreign issuers involve risks beyond those associated with investments in U.S. securities.

    Risk of Investing in Gold and Silver Mining Companies. The Fund is exposed indirectly to gold and silver mining companies selected by GDX®’s investment adviser, which subjects the Fund to the risks associated with such companies.

    The Fund invests in options contracts based on the value of the VanEck Gold Miners ETF (GDX®), which subjects the Fund to some of the same risks as if it owned GDX®, as well as the risks associated with Canadian, Australian and Emerging Market Issuers, and Small-and Medium-Capitalization companies.

    Risk Disclosures (applicable only to YBIT)

    YBIT does not invest directly in Bitcoin or any other digital assets. YBIT does not invest directly in derivatives that track the performance of Bitcoin or any other digital assets. YBIT does not invest in or seek direct exposure to the current “spot” or cash price of Bitcoin. Investors seeking direct exposure to the price of Bitcoin should consider an investment other than YBIT.

    Bitcoin Investment Risk: The Fund’s indirect investment in Bitcoin, through holdings in one or more Underlying ETPs, exposes it to the unique risks of this emerging innovation. Bitcoin’s price is highly volatile, and its market is influenced by the changing Bitcoin network, fluctuating acceptance levels, and unpredictable usage trends.

    Digital Assets Risk: Digital assets like Bitcoin, designed as mediums of exchange, are still an emerging asset class. They operate independently of any central authority or government backing and are subject to regulatory changes and extreme price volatility. Potentially No 1940 Act Protections. As of the date of this Prospectus, there is only a single eligible Underlying ETP, and it is an investment company subject to the 1940 Act.

    Bitcoin ETP Risk: The Fund invests in options contracts that are based on the value of the Bitcoin ETP. This subjects the Fund to certain of the same risks as if it owned shares of the Bitcoin ETP, even though it does not. Bitcoin ETPs are subject, but not limited, to significant risk and heightened volatility. An investor in a Bitcoin ETP may lose their entire investment. Bitcoin ETPs are not suitable for all investors. In addition, not all Bitcoin ETPs are registered under the Investment Company Act of 1940. Those Bitcoin ETPs that are not registered under such statute are therefore not subject to the same regulations as exchange traded products that are so registered.

    Risk Disclosures (applicable only to the Short ETFs)

    Investing involves risk. Principal loss is possible.

    Price Appreciation Risk. As part of the Fund’s synthetic covered put strategy, the Fund purchases and sells call and put option contracts that are based on the value of the underlying reference asset. This strategy subjects the Fund to certain of the same risks as if it shorted the underlying reference asset, even though it does not. By virtue of the Fund’s indirect inverse exposure to changes in the value of the underlying reference asset, the Fund is subject to the risk that the value of the underlying reference asset increases. If the value of the underlying reference asset increases, the Fund will likely lose value and, as a result, the Fund may suffer significant losses.

    Put Writing Strategy Risk. The path dependency (i.e., the continued use) of the Fund’s put writing (selling) strategy will impact the extent that the Fund participates in decreases in the value of the underlying reference asset and, in turn, the Fund’s returns, both during the term of the sold put options and over longer periods.

    Purchased OTM Call Options Risk. The Fund’s strategy is subject to potential losses if the underlying reference asset increases in value, which may not be offset by the purchase of out-of-the-money (OTM) call options. The Fund purchases OTM calls to seek to manage (cap) the Fund’s potential losses from the Fund’s short exposure to the underlying reference asset if it appreciates significantly in value. However, the OTM call options will cap the Fund’s losses only to the extent that the value of the underlying reference asset increases to a level that is at or above the strike level of the purchased OTM call options. Any increase in the value of the underlying reference asset to a level that is below the strike level of the purchased OTM call options will result in a corresponding loss for the Fund. For example, if the OTM call options have a strike level that is approximately 100% above the then-current value of the underlying reference asset at the time of the call option purchase, and the value of the underlying reference asset increases by at least 100% during the term of the purchased OTM call options, the Fund will lose all its value. Since the Fund bears the costs of purchasing the OTM calls, such costs will decrease the Fund’s value and/or any income otherwise generated by the Fund’s investment strategy.

    Counterparty Risk. The Fund is subject to counterparty risk by virtue of its investments in options contracts. Transactions in some types of derivatives, including options, are required to be centrally cleared (“cleared derivatives”). In a transaction involving cleared derivatives, the Fund’s counterparty is a clearing house rather than a bank or broker. Since the Fund is not a member of clearing houses and only members of a clearing house (“clearing members”) can participate directly in the clearing house, the Fund will hold cleared derivatives through accounts at clearing members.

    Derivatives Risk. Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, or funds (including ETFs), interest rates or indexes. The Fund’s investments in derivatives may pose risks in addition to, and greater than, those associated with directly investing in securities or other ordinary investments, including risk related to the market, imperfect correlation with underlying investments or the Fund’s other portfolio holdings, higher price volatility, lack of availability, counterparty risk, liquidity, valuation and legal restrictions.

    Options Contracts. The use of options contracts involves investment strategies and risks different from those associated with ordinary portfolio securities transactions. The prices of options are volatile and are influenced by, among other things, actual and anticipated changes in the value of the underlying reference asset, including the anticipated volatility, which are affected by fiscal and monetary policies and by national and international political, changes in the actual or implied volatility or the reference asset, the time remaining until the expiration of the option contract and economic events.

    Distribution Risk. As part of the Fund’s investment objective, the Fund seeks to provide current income. There is no assurance that the Fund will make a distribution in any given period. If the Fund does make distributions, the amounts of such distributions will likely vary greatly from one distribution to the next.

    High Portfolio Turnover Risk. The Fund may actively and frequently trade all or a significant portion of the Fund’s holdings.

    Liquidity Risk. Some securities held by the Fund, including options contracts, may be difficult to sell or be illiquid, particularly during times of market turmoil.

    Non-Diversification Risk. Because the Fund is “non-diversified,” it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund.

    New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.

    Price Participation Risk. The Fund employs an investment strategy that includes the sale of put option contracts, which limits the degree to which the Fund will participate in decreases in value experienced by the underlying reference asset over the Put Period.

    Single Issuer Risk. Issuer-specific attributes may cause an investment in the Fund to be more volatile than a traditional pooled investment which diversifies risk or the market generally. The value of the Fund, for any Fund that focuses on an individual security (e.g., TSLA, COIN, NVDA, MSTR), may be more volatile than a traditional pooled investment or the market as a whole and may perform differently from the value of a traditional pooled investment or the market as a whole.

    Inflation Risk. Inflation risk is the risk that the value of assets or income from investments will be less in the future as inflation decreases the value of money. As inflation increases, the present value of the Fund’s assets and distributions, if any, may decline.

    Risk Disclosures (applicable only to YQQQ)

    Index Overview. The Nasdaq 100 Index is a benchmark index that includes 100 of the largest non-financial companies listed on the Nasdaq Stock Market, based on market capitalization.

    Index Level Appreciation Risk. As part of the Fund’s synthetic covered put strategy, the Fund purchases and sells call and put option contracts that are based on the Index level. This strategy subjects the Fund to certain of the same risks as if it shorted the Index, even though it does not. By virtue of the Fund’s indirect inverse exposure to changes in the Index level, the Fund is subject to the risk that the Index level increases. If the Index level increases, the Fund will likely lose value and, as a result, the Fund may suffer significant losses. The Fund may also be subject to the following risks: innovation and technological advancement; strong market presence of Index constituent companies; adaptability to global market trends; and resilience and recovery potential.

    Index Level Participation Risk. The Fund employs an investment strategy that includes the sale of put option contracts, which limits the degree to which the Fund will benefit from decreases in the Index level experienced over the Put Period. This means that if the Index level experiences a decrease in value below the strike level of the sold put options during a Put Period, the Fund will likely not experience that increase to the same extent and any Fund gains may significantly differ from the level of the Index losses over the Put Period. Additionally, because the Fund is limited in the degree to which it will participate in decreases in value experienced by the Index level over each Put Period, but has significant negative exposure to any increases in value experienced by the Index level over the Put Period, the NAV of the Fund may decrease over any given period. The Fund’s NAV is dependent on the value of each options portfolio, which is based principally upon the inverse of the performance of the Index level. The Fund’s ability to benefit from the Index level decreases will depend on prevailing market conditions, especially market volatility, at the time the Fund enters into the sold put option contracts and will vary from Put Period to Put Period. The value of the options contracts is affected by changes in the value and dividend rates of component companies that comprise the Index, changes in interest rates, changes in the actual or perceived volatility of the Index and the remaining time to the options’ expiration, as well as trading conditions in the options market. As the Index level changes and time moves towards the expiration of each Put Period, the value of the options contracts, and therefore the Fund’s NAV, will change. However, it is not expected for the Fund’s NAV to directly inversely correlate on a day-to-day basis with the returns of the Index level. The amount of time remaining until the options contract’s expiration date affects the impact that the value of the options contracts has on the Fund’s NAV, which may not be in full effect until the expiration date of the Fund’s options contracts. Therefore, while changes in the Index level will result in changes to the Fund’s NAV, the Fund generally anticipates that the rate of change in the Fund’s NAV will be different than the inverse of the changes experienced by the Index level.

    YieldMax™ ETFs are distributed by Foreside Fund Services, LLC. Foreside is not affiliated with Tidal Financial Group, or YieldMax™ ETFs.

    © 2025 YieldMax™ ETFs

    The MIL Network –

  • MIL-OSI: Bitfarms Reports Fourth Quarter 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    – Revenue of $56 million, up 21% Y/Y –
    – Gross mining margin of 47%, down from 57% from Q4 2023 –
    – 18.6 EHuM up 186% from Q4 2023-
    – Current efficiency of 19w/TH a 45% improvement from Q4 2023-
    -Total energy pipeline of ~1.4 GW, ~80% based in the U.S.-
    -Completed acquisition of Stronghold Digital Mining & sale of Yguazu, Paraguay data center-

    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 and BROSSARD, Québec, March 27, 2025 (GLOBE NEWSWIRE) — Bitfarms Ltd. (Nasdaq/TSX: BITF), a global vertically integrated Bitcoin data center company, reported its financial results for the fourth quarter ended December 31, 2024. All financial references are in U.S. dollars.  

    CEO Ben Gagnon stated, “Bitfarms is a completely different company than we were at the beginning of 2024. Across nearly every metric, we have rapidly transformed from the international Bitcoin miner to a North American energy and compute company.  We now have one of the largest portfolios of flexible MW in the PJM market among Bitcoin miners and are well-positioned to capitalize on macro tailwinds and surging demand for U.S. power and infrastructure. From January 2024, we’ve grown our energized capacity over 90% to 461 MW and secured a multi-year pipeline of over 1.4 GW, nearly 80% of which is based in the U.S and over 90% of which is based in North America.

    “Just last week, we closed both the transformative acquisition of Stronghold Digital Mining, the largest M&A deal between two public miners in our industry, and the strategic sale of our 200 MW Yguazu data center, our largest constructed site. Thus far this quarter, we  advanced our HPC/AI strategy with the engagement of two new advisors,  hired two new critical team members, an SVP of HPC and an SVP of Infrastructure, and significantly improved our hashrate, reaching 18.6 EHuM, which we expect will generate operating cash flow through 2026 and beyond.

    “While we remain confident in the significant upside potential of our BTC mining operations and continue to maximize the value of our assets, our revenue diversification strategy—both in the U.S. and with HPC/AI—is geared toward driving greater shareholder value. We aim to secure long-term, predictable cash flows from a well-capitalized HPC/AI customer, while diversifying our revenue streams, reducing our dependency on BTC price volatility, and capitalizing on the growing demand for AI computing. Our two recent strategic transactions, the Stronghold acquisition and the Yguazu data center sale, demonstrate execution of this strategy,” concluded Mr. Gagnon.

    SVP of Mining Operations Alex Brammer stated, “We’ve made significant progress with our mining operations over the past year, nearly tripling our hashrate and improving our efficiency by over 40%. This momentum continues to accelerate. In the last three months alone, we grew our hashrate over 40% to 18.6 EH/s and reached our first half efficiency target of 19 w/TH three months ahead of schedule. This was achieved through the energization of two North American sites, new miner deliveries and continued optimizations across all of our sites.”

    CFO Jeff Lucas stated, “The recent acquisition of Stronghold and sale of Yguazu have expanded our growth opportunities and strengthened our financial profile. Our identified capex requirements for 2025 are now 20% lower than previously planned and we have no plans for large miner purchases in 2025 or 2026; instead, we will be deploying this capital towards developing U.S. energy and HPC infrastructure. We expect that this shift in our strategy will enable us to raise capital more cost-effectively and to secure steadier earnings streams and greater operating margins, the culmination of which we expect will drive long-term shareholder value.”

    Anticipated Megawatt Growth

    Mining Operations

    • Current hashrate of 18.6 EHuM, up from 6.5 EHuM in Q4 2023
    • Current efficiency of 19 w/TH, a 45% improvement from Q4 2023

    Recent Strategic Developments 

    • Completed previously announced acquisition of Stronghold Digital Mining, Inc.
    • Completed previously announced sale of 200 MW data center in Yguazu, Paraguay to HIVE Digital Technologies 
    • Secured two strategic partners, ASG and World Wide Technology, to advance HPC/AI business
    • Strengthened Management team with two new strategic hires, James Bond, SVP of HPC/AI, and Craig Hibbard, SVP of Infrastructure 
    • Initiated Bitcoin One program following the success of Synthetic HODL program in 2024, which achieved a 135% return since the program’s inception in Q4 2023 through December 31, 2024.

    Q4 2024 Financial Highlights

    • Total revenue of $56 million, up 21% Y/Y
    • Gross mining margin of 47%, down from 57% in Q4 2023
    • General and administrative expenses of $18 million, compared to $13 million in Q4 2023
    • Operating loss of $16 million compared to an operating loss of $13 million in Q4 2023
    • Net income of $15 million, or $0.03 per basic and diluted share compared to a net loss of $62 million or $0.21 per basic and diluted share in Q4 2023
    • Adjusted EBITDA* of $14 million, or 25% of revenue, down from $16 million or 35% of revenue in Q4 2023
    • The Company earned 654 BTC at an average direct cost of production per BTC* of $40,800
    • Total cash cost of production per BTC* was $60,800 in Q4 2024

    Liquidity**
    As of March 26, 2025, the Company had total liquidity of approximately $135 million. 

    Q4 2024 and Recent Financing Activities

    • Sold 502 BTC at an average price of $81,400 for total proceeds of $41 million in Q4 2024 and sold 117 of the 414 BTC earned during January and February 2025, generating total proceeds of $11 million. A portion of the funds was used to pay capital expenditures to support the Company’s growth and efficiency improvement objectives.
    • As of March 26, 2025, the Company held 1,093 Bitcoin.
    • Raised $50 million in net proceeds during Q4 2024 bringing the total net proceeds to $314 million through March 26, 2025 under the Company’s 2024 at-the-market equity offering program.
    Quarterly Operating Performance      
      Q4 2024 Q3 2024 Q4 2023
    Total BTC earned                       654                       703                    1,236
    Average Watts/Average TH efficiency***                         22                         23                         35
    BTC sold                       502                       461                    1,135
      As of December 31, As of September 30, As of December 31,
      2024 2024 2023
    Operating EH/s                      12.8                      11.3                         6.5
    Operating capacity (MW)                       394                       310                       240
    Quarterly Average Revenue**** and Cost of Production per BTC*
      Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023
    Avg. Rev****/BTC $82,400 $60,900 $65,800 $52,400 $36,400
    Direct Cost*/BTC $40,800 $36,600 $30,600 $18,400 $14,400
    Total Cash Cost*/BTC $60,800 $53,700 $47,600 $27,900 $23,300

    * Gross mining profit, gross mining margin, EBITDA, EBITDA margin, Adjusted EBITDA, Adjusted EBITDA margin, Direct Cost per BTC and Total Cash Cost per BTC are non-IFRS financial measures or ratios and should be read in conjunction with, and should not be viewed as alternatives to or replacements of measures of operating results and liquidity presented in accordance with IFRS. Readers are referred to the reconciliations of non-IFRS measures included in the Company’s MD&A and at the end of this press release.
    ** Liquidity represents cash and balance of unrestricted digital assets.
    *** Average watts represent the energy consumption of miners.
    **** Average revenue per BTC is for mining operations only and excludes Volta revenue.

    Conference Call 

    Management will host a conference call today at 8:00 am EST. All Q4 2024 materials will be available before the call and can be accessed on the ‘Financial Results’ section of the Bitfarms investor site.  

    The live webcast and a webcast replay of the conference call can be accessed here. To access the call by telephone, register here to receive dial-in numbers and a unique PIN to join the call.

    Non-IFRS Measures*
    As a Canadian company, Bitfarms follows International Financial Reporting Standards (IFRS) which are issued by the International Accounting Standard Board (IASB). Under IFRS rules, the Company does not reflect the revaluation gains on the mark-to-market of its Bitcoin holdings in its income statement. It also does not include the revaluation losses on the mark-to-market of its Bitcoin holdings in Adjusted EBITDA, which is a measure of the cash profitability of its operations and does not reflect the change in value of its assets and liabilities.

    The Company uses Adjusted EBITDA to measure its operating activities’ financial performance and cash generating capability.

    About Bitfarms Ltd.
    Founded in 2017, Bitfarms is a global Bitcoin data center company that contributes its computational power to one or more mining pools from which it receives payment in Bitcoin. Bitfarms develops, owns, and operates vertically integrated mining farms with in-house management and company-owned electrical engineering, installation service, and multiple onsite technical repair centers. The Company’s proprietary data analytics system delivers best-in-class operational performance and uptime.

    Bitfarms currently has 15 operating Bitcoin data centers and two under development situated in four countries: Canada, the United States, Paraguay, and Argentina. Powered predominantly 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/
    http://x.com/Bitfarms_io
     https://www.instagram.com/bitfarms/
     https://www.linkedin.com/company/bitfarms/

    Glossary of Terms

    • BTC BTC/day = Bitcoin or Bitcoin per day
    • EHuM = Exahash Under Management, which includes Bitfarms’ proprietary hashrate and hashrate being hosted by Bitfarms for third-party hosting clients
    • EH or EH/s = Exahash or exahash per second
    • MW or MWh = Megawatts or megawatt hour
    • w/TH = Watts/Terahash efficiency (includes cost of powering supplementary equipment)
    • Q/Q = Quarter over Quarter
    • Y/Y = Year over Year
    • Synthetic HODL™ = the use of instruments that create Bitcoin equivalent exposure
    • HPC/AI = High Performance Computing / Artificial Intelligence

    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 the Company’s energy pipeline and its anticipated megawatt growth in each of the years 2025, 2026 and 2028, its revenue diversification strategy, the success of the Company’s HPC/AI strategy and its ability to capitalize on growing demand for AI computing while securing predictable cash flows, the Company’s ability to drive greater shareholder value,  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: 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; 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; 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 Contacts:

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

    Media Contacts:

    Caroline Brady Baker
    Director, Communications
    cbaker@bitfarms.com 

    Bitfarms Ltd. Consolidated Financial & Operational Results
         
      Three months ended December 31, Year ended December 31,
    (U.S.$ in thousands except where indicated) 2024   2023   $ Change % Change 2024   2023   $ Change % Change
    Revenues    56,163      46,241          9,922   21 % 192,881   146,366        46,515   32 %
    Cost of revenues   (54,776 )   (44,484 )     (10,292 ) 23 % (225,240 ) (167,868 )     (57,372 ) 34 %
    Gross (loss) profit      1,387        1,757            (370 ) (21) %   (32,359 )   (21,502 )     (10,857 ) 50 %
    Gross margin (1) 2 % 4 % —   —   (17) % (15) %  —   —  
                     
    Operating expenses                
    General and administrative expenses   (18,042 )   (13,405 )       (4,637 ) 35 %   (71,240 )   (39,292 )     (31,948 ) 81 %
    Reversal of revaluation loss on digital
    assets    		            —        1,183         (1,183 ) (100) %            —        2,695         (2,695 ) (100) %
    Gain (loss) on disposition of property,
    plant and equipment and deposits    		         270              (2 )           272   nm        (336 )     (1,778 )        1,442   (81) %
    Impairment on short-term prepaid
    deposits, property, plant and
    equipment and assets held for sale    		            —       (2,270 )        2,270   100 %     (3,628 )   (12,252 )        8,624   (70) %
    Operating loss   (16,385 )   (12,737 )       (3,648 ) 29 % (107,563 )   (72,129 )     (35,434 ) 49 %
    Operating margin (1) (29) % (28) % —   —   (56) % (49) % —   —  
                     
    Net financial income (expenses)    21,843     (49,686 )      71,529   144 %    39,210     (37,194 )      76,404   205 %
    Net (loss) income before income taxes      5,458     (62,423 )      67,881   109 %   (68,353 ) (109,323 )      40,970   (37) %
                     
    Income tax recovery      9,707           378          9,329   nm    14,290           401        13,889     nm
    Net (loss) income    15,165     (62,045 )      77,210   124 %   (54,063 ) (108,922 )      54,859   (50) %
                     
    Basic (loss) earnings per share (in U.S. dollars)        0.03         (0.21 )              —           —         (0.13 )       (0.42 )              —           —  
    Diluted earnings (loss) per share (in U.S. dollars)        0.03         (0.21 )              —           —         (0.13 )       (0.42 )              —           —  
    Change in revaluation surplus – digital assets, net of tax    26,421        7,675        18,746   244 %    39,120        9,242        29,878   323 %
    Total comprehensive income (loss), net of tax    41,586     (54,370 )      95,956   176 %   (14,943 )   (99,680 )      84,737   (85 %)
                     
    Gross Mining profit (2)    25,786      25,454             332   1 %    94,469      70,277        24,192   34 %
    Gross Mining margin (2) 47 % 57 %              —   —   50 % 50 %              —   —  
    EBITDA (2)    29,752     (40,542 )      70,294   173 %    68,315     (21,879 )      90,194   412 %
    EBITDA margin (2) 53 % (88)  % —   —   35 % (15) %              —   —  
    Adjusted EBITDA (2)    14,315      16,332         (2,017 ) (12) %    54,661      43,558        11,103   25 %
    Adjusted EBITDA margin (2) 25 % 35 %              —           —   28 % 30 %              —           —  
       
    1 Gross margin and Operating margin are supplemental financial ratios; refer to Section 10 – Non-IFRS and Other Financial Measures and Ratios of the Company’s MD&A.
    2 Gross Mining profit, Gross Mining margin, EBITDA, EBITDA margin, Adjusted EBITDA and Adjusted EBITDA margin are non-IFRS measures or ratios; refer to Section 10 – Non-IFRS and Other Financial Measures and Ratios of the Company’s MD&A.

     

    Bitfarms Ltd. Reconciliation of Consolidated Net Income (loss) to EBITDA and Adjusted EBITDA
     
      Three months ended December 31, Year ended December 31,
    (U.S.$ in thousands except where indicated) 2024   2023   $ Change % Change 2024   2023   $ Change % Change
    Revenues 56,163   46,241        9,922   21 % 192,881   146,366     46,515   32 %
                     
    Net (loss) income before income taxes 5,458   (62,423 )   67,881   nm (68,353 ) (109,323 )   40,970   (37) %
    Interest (income) and expense (290 ) 91         (381 ) (419) % (4,299 ) 2,659      (6,958 ) (262) %
    Depreciation and amortization 24,584   21,790        2,794   13 % 149,727   84,785     64,942   77 %
    Sales tax recovery – depreciation and amortization —   —              —   — % (8,760 ) —      (8,760 ) 100 %
    EBITDA 29,752   (40,542 )   70,294   nm 68,315   (21,879 )   90,194     nm
    EBITDA margin 53 % (88) %            —           —      35 % (15) %            —     nm
    Share-based payment 4,021   3,906           115   3 % 13,949   10,915        3,034   28 %
    Impairment on short-term prepaid deposits, property, plant and equipment and assets held for sale —   2,270      (2,270 ) 100 % 3,628   12,252      (8,624 ) (70) %
    Reversal of revaluation loss on digital assets —   (1,183 )      1,183   100 % —   (2,695 )      2,695   100 %
    Gain on extinguishment of long-term debt and lease liabilities —   —              —   — % —   (12,835 )   12,835   100 %
    (Gain) loss revaluation of warrants (6,314 ) 42,760   (49,074 ) (115) % (19,603 ) 42,974   (62,577 ) (146) %
    Gain on disposition of marketable securities (782 ) (999 )         217   (22) % (2,313 ) (12,245 )      9,932   (81) %
    Service fees not associated with ongoing operations 1,287   —        1,287   100 % 13,766   —     13,766   100 %
    Sales tax recovery – prior years – energy and infrastructure and G&A expenses (1) —   2,485      (2,485 ) 100 % (16,081 ) 9,281   (25,362 ) (273) %
    Net financial (income) expense and other (13,649 ) 7,635   (21,284 ) (279) % (7,000 ) 17,790   (24,790 ) (139) %
    Adjusted EBITDA 14,315   16,332      (2,017 ) (12) % 54,661   43,558     11,103   25 %
    Adjusted EBITDA margin 25 % 35 % —   —   28 % 30 % —   —  

    nm: not meaningful

       
    1 Sales tax recovery relating to energy and infrastructure and general and administrative expenses have been allocated to their respective periods; refer to Note 29b – Additional Details to the Statement of Profit or Loss and Comprehensive Profit or Loss (Canadian sales tax refund) to the Financial Statements. 
    Bitfarms Ltd. Calculation of Gross Mining Profit and Gross Mining Margin
         
      Three months ended December 31, Year ended December 31,
    (U.S.$ in thousands except where indicated) 2024   2023   $ Change % Change 2024   2023   $ Change % Change
    Gross (loss) profit     1,387       1,757          (370 ) (21) % (32,359 ) (21,502 )   (10,857 ) 50 %
    Non-Mining revenues¹ (1,592 ) (1,285 )        (307 ) 24 % (5,102 ) (5,060 )           (42 ) 1 %
    Depreciation and amortization   24,584     21,790        2,794   13 % 149,727     84,785      64,942   77 %
    Sales tax recovery – depreciation and amortization            —              —              —   — % (8,760 )            —       (8,760 ) (100)  
    Electrical components and salaries     1,403       1,095           308   28 %     4,081       4,151             (70 ) (2) %
    Sales tax recovery – prior years – energy and infrastructure²            —       2,211      (2,211 ) 100 % (14,338 )     8,366     (22,704 ) (271) %
    Other             4        (114 )         118   nm     1,220        (463 )       1,683   nm
    Gross Mining profit   25,786     25,454           332   1 %   94,469     70,277      24,192   34 %
    Gross Mining margin 47 % 57 %            —           —      50 % 50 %             —          —     

    nm: not meaningful

    (1 ) Non-Mining revenues reconciliation:
      Three months ended December 31, Year ended December 31,
    (U.S.$ in thousands except where indicated) 2024   2023   $ Change % Change 2024   2023   $ Change % Change
    Revenues       56,163         46,241          9,922   21 %     192,881       146,366         46,515   32 %
    Less Mining related revenues for the purpose of calculating gross Mining margin:                
    Mining revenues³     (54,571 )     (44,956 )       (9,615 ) 21 %   (187,779 )   (141,306 )     (46,473 ) 33 %
    Non-Mining revenues        1,592          1,285             307   24 %        5,102          5,060               42   1 %
    (2 ) Sales tax recovery relating to energy and infrastructure expenses has been allocated to their respective periods; refer to Note 29b – Additional Details to the Statement of Profit or Loss and Comprehensive Profit or Loss (Canadian sales tax refund) to the Financial Statements. 
    (3 ) Mining revenues include revenues from sale of computational power used for hashing calculations and revenues from computational power sold in exchange of services.
    Bitfarms Ltd. Calculation of Direct Cost and Direct Cost per BTC
     
      Three months ended December 31, Year ended December 31,
    (U.S.$ in thousands except where indicated) 2024   2023   $ Change % Change 2024   2023   $ Change % Change
    Cost of revenues    54,776      44,484      10,292   23 % 225,240   167,868      57,372   34 %
    Depreciation and amortization (24,584 ) (21,790 )     (2,794 ) 13 % (149,727 )   (84,785 )   (64,942 ) 77 %
    Sales tax recovery – depreciation and amortization            —              —              —   — %       8,760               —         8,760   100 %
    Electrical components and salaries     (1,403 )     (1,091 )        (312 ) 29 %     (4,081 )     (4,141 )            60   (1) %
    Infrastructure     (1,456 )     (1,607 )          151   (9) %     (5,784 )     (3,909 )     (1,875 ) 48 %
    Sales tax recovery – prior years – energy and infrastructure (1)            —       (2,211 )      2,211   100 %    14,338       (8,366 )    22,704   271 %
    Other        (649 )            —          (649 ) (100) %             —              82             (82 ) (100) %
    Direct Cost    26,684      17,785        8,899   50 %    88,746      66,749      21,997   33 %
    Quantity of BTC earned          654        1,236          (582 ) (47) %       2,914         4,928       (2,014 ) (41) %
    Direct Cost per BTC (in U.S. dollars)    40,800      14,400      26,400   183 %    30,500      13,500      17,000   126 %

    nm: not meaningful

    Bitfarms Ltd. Calculation of Total Cash Cost and Total Cost per BTC
     
      Three months ended December 31, Year ended December 31,
    (U.S.$ in thousands except where indicated) 2024   2023   $ Change % Change 2024   2023   $ Change % Change
    Cost of revenues    54,776      44,484      10,292   23 % 225,240   167,868      57,372   34 %
    General and administrative expenses    18,042      13,405         4,637   35 %    71,240      39,292      31,948   81 %
         72,818      57,889      14,929   26 % 296,480   207,160      89,320   43 %
    Depreciation and amortization   (24,584 )   (21,790 )     (2,794 ) 13 % (149,727 )   (84,785 )   (64,942 ) 77 %
    Non-cash service expense (2)        (688 )             —          (688 ) (100) %     (1,252 )             —       (1,252 ) (100) %
    Sales tax recovery – depreciation and amortization             —               —               —   — %       8,760               —         8,760   100 %
    Electrical components and salaries     (1,403 )     (1,091 )        (312 ) 29 %     (4,081 )     (4,141 )            60   (1) %
    Share-based payment     (4,021 )     (3,906 )        (115 ) 3 %   (13,949 )   (10,915 )     (3,034 ) 28 %
    Service fees not associated with ongoing operations     (1,287 )             —       (1,287 ) (100) %   (13,766 )             —     (13,766 ) (100) %
    Sales tax recovery – prior years – energy and infrastructure and G&A expenses (1)             —       (2,485 )       2,485   100 %    16,081       (9,281 )    25,362   273 %
    Other     (1,078 )          201       (1,279 ) (636) %     (5,659 )          890       (6,549 ) (736) %
    Total Cash Cost    39,757      28,818      10,939   38 % 132,887      98,928      33,959   34 %
    Quantity of BTC earned          654         1,236          (582 ) (47) %       2,914         4,928       (2,014 ) (41) %
    Total Cash Cost per BTC (in U.S. dollars)    60,800      23,300      37,500   161 %    45,600      20,100      25,500   127 %

    nm: not meaningful

       
    1 Sales tax recovery relating to energy and infrastructure and general and administrative expenses have been allocated to their respective periods; refer to Note 29b – Additional Details to the Statement of Profit or Loss and Comprehensive Profit or Loss (Canadian sales tax refund) to the Financial Statements. 
    2 Non-cash service expense, included in infrastructure, which was exchanged for computational power sold.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d24a5e36-6201-4d4f-a4f9-8fdc9aaeb95b

    The MIL Network –

  • MIL-OSI: Currency Exchange International, Corp. Announces Referral Agreement with Agility Forex

    Source: GlobeNewswire (MIL-OSI)

    • Exchange Bank of Canada (“EBC” or the “Bank”) is to refer selected employees and their payment customers in Canada to Agility Forex;

    TORONTO, March 27, 2025 (GLOBE NEWSWIRE) — Currency Exchange International, Corp. (“CXI” or the “Company”) (TSX: CXI) (OTC: CURN), today announced a referral agreement has been entered into with Agility Forex.

    Upon Agility Forex hiring a selected employee, EBC will be referring its corporate payment customers in Canada associated with the employee to Agility Forex for their acceptance. The referral of EBC’s customers and employees to Agility Forex, a B.C. based foreign payments exchange service provider, will mutually benefit all parties and stakeholders.

    “We are optimistic that our referral agreement for select EBC employees and their corporate payment clients is the best outcome for our customers, employees and EBC stakeholders as well as CXI shareholders,” said Randolph Pinna, CEO of CXI and EBC.

    “Agility is pleased to implement this Referral Agreement and welcomes the chance to build new relationships. We are excited to embark on this opportunity to grow and evolve our business with the new selected sales members joining our team,” said Andrew McGuire, CEO of Agility Forex.

    CXI’s long-term outlook remains positive due to the Company’s focus on its growing businesses in the U.S. in conjunction with expected cost savings and anticipated additional new product growth in the U.S. market. The Company will provide further updates as the Canadian business operations are being discontinued as originally announced on February 18, 2025. During this process, EBC is committed to ensuring minimal disruption to all its stakeholders. 

    CXI is grateful to all of EBC’s team members for their contributions over the years and is committed to providing support and guidance to all employees during this transition to ensure a smooth and respectful process.  

    INFOR Financial Inc. acted as financial advisor to CXI in connection with the referral agreement with Agility Forex.

    About Currency Exchange International, Corp.

    Currency Exchange International is in the business of providing comprehensive foreign exchange technology and processing services for banks, credit unions, businesses, and consumers in the United States and select clients globally. Primary products and services include the exchange of foreign currencies, wire transfer payments, Global EFTs, and foreign cheque clearing. Wholesale customers are served through its proprietary FX software applications delivered on its web-based interface, www.cxifx.com (“CXIFX”), its related APIs with core banking platforms, and through personal relationship managers. Consumers are served through Company-owned retail branches, agent retail branches, and its e-commerce platform, order.ceifx.com.

    The Group’s wholly-owned Canadian subsidiary, Exchange Bank of Canada, based in Toronto, Canada, is currently in the process of discontinuing its operations in Canada.

    About Agility Forex

    Agility Forex is a Vancouver-based fintech company that offers small-to-medium size enterprises and individuals currency pricing normally reserved for large corporations. Their proprietary technology allows them to bypass the banks to access the interbank market and offer transparent pricing with no fees or commissions, 24/7 via their easy-to-use platform. C1 Ventures, a venture capital corporation wholly owned by Central 1, a Canadian financial institution with $11.6 billion in assets, owns 28 percent of Agility Forex.

    Contact Information

    For further information please contact:
    Bill Mitoulas
    Investor Relations
    (416) 479-9547
    Email: bill.mitoulas@cxifx.com
    Website: www.cxifx.com

    CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

    This press release includes forward-looking information within the meaning of applicable securities laws. This forward-looking information includes, or may be based upon, estimates, forecasts, and statements as to management’s expectations with respect to, among other things, the merits of a referral agreement for customers and selected employees, the management of employee and customer transitions, the voluntary cessation of operations and discontinuance of Exchange Bank of Canada (EBC), financial performance in fiscal 2025 and 2026, and the associated costs and outcomes of the cessation and discontinuance period in general. Forward-looking statements are identified by the use of terms and phrases such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “preliminary,” “project,” “will,” “would,” and similar terms and phrases, including references to assumptions. 

    Forward-looking information is based on the opinions and estimates of management at the date such information is provided and on information available to management at such time. Forward-looking information involves significant risks, uncertainties, and assumptions that could cause the Company’s actual results, performance, or achievements to differ materially from the results discussed or implied in such forward-looking information. Actual results may differ materially from results indicated in forward-looking information due to a number of factors including, without limitation, an inability to implement the referral agreement for customers and selected employees on a basis which is beneficial to stakeholders, the inability of the Company to complete the cessation of EBC and discontinuance in accordance with applicable regulatory and legal requirements on a basis which is cost effective and protects the goodwill of the Company, an inability to establish direct correspondent banking relationships to support its U.S. payments business on terms which are economic or at all, the impact of delays or challenges in obtaining regulatory approvals, an inability to manage one-time wind-down costs and severance obligations on cost-effective basis, potential disruptions to operations during the transition period. the risk of reduced liquidity during the transition periods and, generally, the potential for unforeseen liabilities arising during or after the cessation of operations and discontinuance of EBC. 

    Additional risks include the ability of the Company to comply with regulatory requirements in general, the competitive nature of the foreign exchange industry, the impact of geo political changes, and trade wars on factors relevant to the Company’s business, currency exchange risks, the need for the Company to manage its planned growth, the effects of product development and the need for continued technological change, protection of the Company’s proprietary rights, the effect of government regulation and compliance on the Company and the industry in which it operates, network security risks, the ability of the Company to maintain properly working systems, theft and risk of physical harm to personnel, reliance on key management personnel, unexpected losses or challenges associated with customer attrition during the discontinuance, global economic deterioration negatively impacting tourism, volatile securities markets impacting security pricing in a manner unrelated to operating performance and impeding access to capital or increasing the cost of capital, as well as the factors identified throughout this press release and in the section entitled “Financial Risk Factors” of the Company’s Management’s Discussion and Analysis for the twelve months ended October 31, 2024. 

    The forward-looking information contained in this press release represents management’s expectations as of the date hereof (or as of the date such information is otherwise stated to be presented) and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events, or otherwise, except as required under applicable securities laws. 

    The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this press release. No stock exchange, securities commission, or other regulatory authority has approved or disapproved the information contained in this press release. 

    The MIL Network –

  • MIL-OSI: Breaking the Mold: Hola Prime Rolls Out MT5 for Next-Gen Traders

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, NY, March 27, 2025 (GLOBE NEWSWIRE) — In a bold move to enhance the trading experience, Hola Prime offers its own licensed MetaTrader 5 (MT5), standing out as one of the few proprietary trading firms to do so. With its advanced capabilities, multi-asset trading, and faster execution, MT5 has become the platform of choice for traders seeking an edge. By pushing past the limitations of outdated systems, Hola Prime is empowering traders with the tools they need to stay ahead.

    Hola Prime is the first prop firm offering On Exchange cryptos in addition to forex and CFDs- all together on MT5. Despite many new trading platforms being available in the market, MT5 continues to be the most preferred trading platform among traders, primarily because of its unmatched capacity of processing millions of transactions in milliseconds.

     Oliver Kane, a professional trader, based out of Australia, shared his experience: “Other platforms restricted my ability to trade multiple assets efficiently. Switching between platforms to trade stocks, commodities, and indices was frustrating. MT5 on Hola Prime allows me to trade all these seamlessly, making a huge difference in my execution.”

    Fredrik James, another active trader, from Canada, highlighted execution issues on older platforms. “Delays in order processing and the inability to hedge made risk management difficult. Sometimes, slippage would significantly impact my profits. MT5’s faster execution and hedging options have made my trades more precise and efficient, reducing unnecessary losses.”

    Hola Prime’s proprietary MT5 server ensures high security, premium liquidity, and superior performance. MT5 facilitates multi-asset trading across forex, stocks, commodities, indices, and cryptocurrencies. This expanded market access allows traders to diversify their portfolios without needing multiple accounts or platforms. MT5 offers an enhanced order execution model, allowing traders to see real-time bid/ask price levels beyond the standard spread. This feature improves precision in trading, helping traders make informed decisions with greater market transparency.

    MT5 supports algorithmic trading, the use of Expert Advisors (EAs), through the upgraded MQL5 programming language, enabling traders to create custom indicators, scripts, and automated trading strategies. The built-in strategy tester helps optimize automated strategies before deploying them in live markets. With its 64-bit, multi-threaded architecture, MT5 ensures faster order processing and lower latency. The platform integrates an economic calendar, financial news updates, and fundamental analysis tools, allowing traders to make informed decisions based on real-time economic events and market trends without leaving the platform.

    Hola Prime’s MT5 platform is accessible via a powerful web terminal and mobile applications for iOS and Android, ensuring traders can access their accounts anytime, anywhere, without compromising functionality or security.

    Himanshu Chandel, Marketing Director at Hola Prime, emphasized the impact of MT5’s features on traders: “We are always customer-focused in everything we do. With 21 timeframes, over 80 built-in technical indicators, and enhanced algorithmic trading capabilities, MT5 empowers traders with precision and efficiency. It’s designed for those who need high-performance tools to trade complex markets.” He further explained how MT5’s architecture improves execution and market access: “Its 64-bit, multi-threaded system ensures faster trade execution with minimal delays, making it a supremely popular platform, which traders love.”

    Somesh Kapuria, CEO of Hola Prime, stressed the need for advanced platforms in modern trading. “Traders have long been restricted by outdated platforms that don’t support advanced market analysis or multi-asset trading. With MT5, we are equipping them with cutting-edge technology that enhances execution speed, strategy automation, and overall market opportunities.” He further announced that Hola Prime will soon introduce a series of tutorials and guides to help traders maximize MT5’s potential. “Education is key in trading. We want our traders to make the most of MT5’s powerful features, and we’re committed to providing the resources they need to stay ahead.”

    As one of the few proprietary trading firms offering MT5, Hola Prime continues to solidify its position as a leader in the industry. The firm’s proprietary server ensures a secure and efficient trading experience, while exclusive discounts especially on MT5 further enhance its appeal to traders.

    Social Links

    Facebook: https://www.facebook.com/profile.php?id=61565158992654&sk=about_contact_and_basic_info

    Instagram: https://www.instagram.com/holaprime_global/

    YouTube: https://www.youtube.com/channel/UCtVEJa1Ml132Be7tnk-DjeQ

    LinkedIn: https://www.linkedin.com/company/hola-prime/?viewAsMember=true

    X: https://x.com/HolaPrimeGlobal

    Discord: https://discord.gg/TJ7TcHPXBf

    Quora: https://www.quora.com/profile/HolaPrime/

    Reddit: https://www.reddit.com/user/HolaPrime/

    Medium: https://medium.com/@social_46267

    Media Contact

    Company: Hola Prime

    Contact: Media Team

    Email: marketing@holaprime.com

    Website: https://holaprime.com/

    The MIL Network –

  • MIL-OSI Global: How Australia’s government is spending less on consultants – and trying to rebuild the public service

    Source: The Conversation – France – By Emmanuel Josserand, Enseignant-chercheur, Pôle Léonard de Vinci

    The post-Covid era has been marked by a global crackdown on government spending on consultants. This phenomenon hasn’t only concerned France, where the “McKinsey-gate” episode concerning President Emmanuel Macron’s 2017 campaign for the Élysée led to a Senate inquiry and spending cuts.

    Public debates, government inquiries and new laws emerged in many countries, including the UK, US, Canada, New Zealand, Germany and South Africa. Australia has been particularly active and achieved significant savings in consultant and contractor spending. Here’s how it did it.

    Nearly €2 billion in savings

    To understand why the use of consultants has become highly politicized in Australia, we need to go back at least to the 2018 federal elections. The right-wing coalition government was focusing on cutting public spending by reducing public jobs. The Labour opposition argued that this led to the more costly use of consultants.


    A weekly e-mail in English featuring expertise from scholars and researchers. It provides an introduction to the diversity of research coming out of the continent and considers some of the key issues facing European countries. Get the newsletter!

    The controversy continued through the 2022 federal elections, when a newly elected Labour government pledged to save 3 billion Australian dollars (around €1.9 billion) on consultants and the use of external labour. This was also pursued at the regional level. For instance, the state of New South Wales announced savings of over 55% in consultants’ fees for the fiscal year 2023-24.

    The case of Australia highlights four main reasons for reducing consulting costs and improving governance – reasons that are also found in other countries.

    • Expenses exceeding needs

    First, a dramatic increase in government spending on consultants attracted attention. In Australia, it almost tripled between 1988-89 and 2016-17 (after adjustment for inflation) and then tripled again to reach 3.2 billion Australian dollars for management advisory services alone in 2022-23. There is a concern that such costs are far more than what might be justified by a temporary rise in workload or the need for very specific technical expertise, even accounting for the exceptional case of Covid.

    • Hollowing out of the public service

    Second, there is the related question of the hollowing out of the public service. The increase in the use of consultants can trigger a vicious circle in which the government loses its skills, thus becoming even more dependent on consultants. This was the core argument of a recent critique by economists called The Big Con.

    • Lack of assessment

    Third, there are reasons to doubt the overall efficiency and effectiveness of consultants’ interventions, especially in the absence of appropriate assessment by clients of the outcomes of the services provided. Despite the claims of consultants and their paying clients that consulting adds value, it is often impossible to measure value precisely, and, therefore, identify who deserves credit or blame.

    Beyond comparing rates of pay, it is hard to know whether internal options would be more effective than using external consultants. Overall, research provides a very mixed picture, with some work showing external consulting being associated with increased inefficiency.

    • Significant conflicts of interest

    Finally, the capacity of consultants to provide independent advice has been broadly criticised after a series of scandals. This is partly because of conflicts of interest for consultants working for both public and private sector clients that are also often undeclared.

    This concern became especially salient in Australia with the PricewaterhouseCoopers (PwC) tax scandal. The Treasury had hired PwC, one of the “Big 4” consulting firms, to help devise legislation to restrict tax evasion by multinationals. Some PwC partners then shared this information with their private sector clients to help them prepare to avoid the new laws. Such cases are linked to broader concerns about the lack of transparency and professionalism in consulting and the failure of self-regulation, both linked to a reward system in the sector that prioritises generating fee income over ethics and the wider public interest.

    Recommendations from the Senate inquiry

    With a dependency on consulting that was proportionally greater than any other country’s and the resulting diminishment of its public service, Australia was facing a significant challenge and pressure to cut costs. But because of the diminishment of the public service, these cuts risked leaving it unable to fulfil its missions.

    A recent Senate inquiry into the matter provided recommendations on how to improve the contracting process, public reporting on consultant contracts and a new regulatory framework for the consulting industry. It also recommended that any external consulting contract include an approach to transferring knowledge to the Australian public service.

    However, these measures wouldn’t have been enough to reconstruct the capacity of the public service to compensate for significant cuts in their consulting and contractor spending. To solve this problem, the Australian government has started a major rebuilding of the public service.

    Thousands of reallocated roles

    Since 2022, Canberra has reallocated 8,700 roles formerly performed by consultants and external labour hires to public servants across all the major public service agencies. This will be supported by the Australian Public Service Commission’s strategy to develop a flexible workforce that is prepared for the challenges the public service will be facing – notably that of digitalization, an area that has been over-reliant on consultants.

    Another interesting initiative in New South Wales is the establishment of a unit that will aim to redirect government agencies toward in-house expertise instead of consultants. Indeed, recourse to internal consulting units is common in the private sector. The government will also undertake long-term capability and skills planning, notably to identify core public service skills and address competency gaps.

    Will this bring lasting results?

    Australia’s solution is thus a strong commitment to redeveloping the public service with a flexible and planned approach to the management of its human resources. This is a key part of the way forward if cuts to consulting budgets are to be sustained. It is, however, too early to judge if the challenge of redeveloping the public service workforce and making it flexible enough will be met.

    We should also keep in mind that this long-term objective is subject to political changes. With the current opposition leader promising a cut of 10,000 civil servants if his coalition is elected later this year, Labour’s plans for the public workforce might be short-lived.

    Indeed, in Australia and elsewhere, there is a long history of short-lived and failed government efforts to contain the use of external consulting. This is in part because of a lack of civil service capacity to respond to change, but also because consulting firms are adept at persuading those in power – politicians and senior civil servants – that they can solve their problems (and let them take the credit).

    Emmanuel Josserand is affiliated with the Institute for Sustainable Futures, University of Technology Sydney and the Business Insight Institute, Wiltz, Luxembourg.

    Andrew Sturdy et Emmanuel Josserand ne travaillent pas, ne conseillent pas, ne possèdent pas de parts, ne reçoivent pas de fonds d’une organisation qui pourrait tirer profit de cet article, et n’ont déclaré aucune autre affiliation que leur poste universitaire.

    – ref. How Australia’s government is spending less on consultants – and trying to rebuild the public service – https://theconversation.com/how-australias-government-is-spending-less-on-consultants-and-trying-to-rebuild-the-public-service-252748

    MIL OSI – Global Reports –

  • MIL-OSI: VAALCO Energy, Inc. to Host Capital Markets Day Presentation

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, March 27, 2025 (GLOBE NEWSWIRE) — VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) (“Vaalco” or the “Company”) announced that it will host a Capital Markets Day presentation on Wednesday, May 14, 2025. The presentation will begin at 8 a.m. Central Time (2 p.m. London Time) and is expected to conclude by around 12:00 p.m. Central Time. The agenda will include presentations by key members of management on Vaalco’s longer-term vision including growth across its diversified, multi-country asset base.

    Participation in the Capital Markets Day is directed to Vaalco’s shareholders, buy side and sell side analysts, as well as large institutional investors and portfolio managers. The session will be web cast live along with related presentation materials through Vaalco’s web site at www.vaalco.com in the “Investors” section of the web site. A replay will be archived on the site shortly after the presentation concludes.

    Event details including key themes and speakers will be announced closer to the event.

    “Following the last four years of successful stewardship and significant inorganic growth, Vaalco has multiple exciting development projects across our expanded portfolio of assets. These projects are expected to bring a further step change in production, reserves and cash flow generation. We are looking forward to offering the investor community a deep dive into these projects and our Africa-focused growth strategy as a whole.” said George Maxwell, Vaalco’s Chief Executive Officer.

    About Vaalco
    Vaalco, founded in 1985 and incorporated under the laws of Delaware, is a Houston, Texas, USA based, independent energy company with a diverse portfolio of production, development and exploration assets across Gabon, Egypt, Côte d’Ivoire, Equatorial Guinea, Nigeria and Canada.

    For Further Information

    Vaalco Energy, Inc. (General and Investor Enquiries) +00 1 713 543 3422
    Website: www.vaalco.com
       
    Al Petrie Advisors (US Investor Relations) +00 1 713 543 3422
    Al Petrie / Chris Delange  
       
    Buchanan (UK Financial PR) +44 (0) 207 466 5000
    Ben Romney / Barry Archer Vaalco@buchanan.uk.com
       

    Forward Looking Statements
    This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created by those laws and other applicable laws and may also include “forward-looking information” within the meaning of applicable Canadian securities law (collectively “forward-looking statements”). Where a forward-looking statement expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. All statements other than statements of historical fact may be forward-looking statements. The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “forecast,” “outlook,” “aim,” “target,” “will,” “could,” “should,” “may,” “likely,” “plan” and “probably” or similar words may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements in this press release may include, but are not limited to, statements relating to (i) estimates of future drilling, production, sales and costs of acquiring crude oil, natural gas and natural gas liquids; (ii) expectations regarding Vaalco’s ability to effectively integrate assets and properties it has acquired as a result of the Svenska acquisition into its operations; (iii) expectations regarding future exploration and the development, growth and potential of Vaalco’s operations, project pipeline and investments, and schedule and anticipated benefits to be derived therefrom; (iv) expectations regarding future acquisitions, investments or divestitures; (v) expectations of future dividends; (vi) expectations of future balance sheet strength; and (vii) expectations of future equity and enterprise value.

    Such forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by the forward-looking statements. These risks and uncertainties include, but are not limited to: risks relating to any unforeseen liabilities of Vaalco; the ability to generate cash flows that, along with cash on hand, will be sufficient to support operations and cash requirements; risks relating to the timing and costs of completion for scheduled maintenance of the FPSO servicing the Baobab field; and the risks described under the caption “Risk Factors” in Vaalco’s 2024 Annual Report on Form 10-K filed with the SEC on March 17, 2025 and subsequent Quarterly Reports on Form 10-Q filed with the SEC.

    The MIL Network –

  • MIL-OSI: edgeTI to Present at the AI and Technology Virtual Investor Conference on April 3rd

    Source: GlobeNewswire (MIL-OSI)

    ARLINGTON, Va., March 27, 2025 (GLOBE NEWSWIRE) — Edge Total Intelligence Inc. (“edgeTI”, “Company”) (TSXV: CTRL) (OTCQB: UNFYF) (FSE: Q5i), a leading provider of real-time digital twin software, today announces that Jim Barrett, CEO, will present live at the AI and Technology Virtual Investor Conference hosted by VirtualInvestorConferences.com on April 3rd.

    DATE: April 3rd, 2025
    TIME: 3:00 PM ET
    LINK: Register Here

    Available for follow-up 1×1 meetings: April 4th and 6th

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

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

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

    Why learn more about edgeTI?

    • Atypical Investment Opportunity via Early Public TSXV, OTCQB, & FSE: Compared to the estimated digital twin market and percentage of adoption, edgeTI and the entire market is early stage, yet edgeTI brings an investment opportunity typically not available to retail investors and small groups.
    • Active in High-Growth AI-Adjacent Market: Digital Twin Market is projected to grow at 61.3% by MarketsandMarkets. Certain Digital Twins, like edgeTI edgeCore™, are AI adjacent and orchestrate and safeguard AI use in complex use cases.
    • Proven Solution to Latent Delay and Waste in Enterprises and Government: edgeCore targets the intractable problem of delays in switching between marginally connected siloed systems and data. Proven in global enterprises and government, edgeCore resolves the chaos, with fluid, engaging data-driven actionability to deliver the right data and best action in one platform at the speed of relevance.
    • Driving Progress with Visionary Leadership and Advisory Council: edgeTI’s work in the Digital Twin market has been acknowledged by Gartner, S & P Global, and CB Insights. Newly formed Industry Advisory Council of luminaries and proven operators in defense, national security, cybersecurity, energy, logistics, environmental and construction accelerate digital twin awareness, adoption, and best practices.
    • Unique Low-risk Approach Crushes Barriers to Adoption and Limits Digital Sprawl: Rather than leading with massive data projects or ripping and replacing legacy systems to add even more data stores and mega apps, edgeCore disrupts the standard approach to unite data sources and technology assets to accelerate value.

    Recent Company Highlights:

    • edgeTI Provided Update edgeCore Client Proxy (ECP) Progress Focusing on ITSM, Middleware, Cyber Security, and National Defense. ECP enhances integration across various business and AI applications, reflecting edgeTI’s commitment to real-time digital operations and AI-driven Digital Twins.
    • edgeTI enlisted B. Riley Securities, Clear Street, and Sichenzia Ross Ference Carmel LLP to assist in exploring a potential listing on the NASDAQ stock exchange. This strategic move aims to lower the company’s cost of capital, access institutional investment, and align with its significant U.S.-based operations.

    About Edge Total Intelligence (“edgeTI”)
    edgeTI helps customers sustain situational awareness and accelerate action with its real-time digital operations software, edgeCore™ that unites multiple software applications and data sources into one immersive experience called a Digital Twin. Global enterprises, service providers, and governments are more profitable when insight and action are united to deliver fluid journeys via the platform’s low-code development capability and composable operations. With edgeCore, customers can improve their margins and agility by rapidly transforming siloed systems and data across continuously evolving situations in business, technology, and cross-domain operations — helping them achieve the impossible.

    Website: https://edgeti.com
    LinkedIn: www.linkedin.com/company/edgeti
    YouTube: www.youtube.com/user/edgetechnologies

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

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

    CONTACTS:
    Edge Total Intelligence
    Nick Brigman, Analyst and Press Relations
    Phone: 888-771-3343
    Email: ir@edgeti.com

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

    Forward-Looking Information and Statements
    Certain statements in this news release are forward-looking statements or information for the purposes of applicable Canadian and US securities law. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. The reader is cautioned not to place undue reliance on any forward-looking information.

    The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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

    The MIL Network –

  • MIL-OSI China: Trump announces new 25 pct auto tariffs

    Source: China State Council Information Office

    U.S. President Donald Trump on Wednesday announced plans to impose 25 percent auto tariffs — on top of previous duties — on April 2.

    “What we’re going to be doing is a 25 percent tariff for all cars that are not made in the United States,” Trump said in the White House Oval Office.

    “We’re signing today. It goes into effect on April 2. We start collecting on April 3,” Trump told reporters.

    According to a document released by the White House, Trump signed a proclamation invoking Section 232 of the Trade Expansion Act of 1962 to impose a 25 percent tariff on imports of automobiles and certain automobile parts to address “a critical threat to U.S. national security.”

    “The 25 percent tariff will be applied to imported passenger vehicles (sedans, SUVs, crossovers, minivans, cargo vans) and light trucks, as well as key automobile parts (engines, transmissions, powertrain parts, and electrical components), with processes to expand tariffs on additional parts if necessary,” the White House said.

    It also noted that importers of automobiles under the United States-Mexico-Canada Agreement will be given the opportunity to certify their U.S. content, and the 25 percent tariff will only apply to the parts that are not made in the United States.

    The current U.S. tariff on automobiles is generally set at 2.5 percent, while a 25 percent tariff is imposed on light trucks. Vehicles that meet the rules of origin under the US-Mexico-Canada Agreement (USMCA) are exempt from these tariffs. According to the latest announcement, the 25 percent tariff will be added on top of existing duties.

    Trump claimed that the tariffs would encourage more production to relocate to the United States, generate new revenue for the government, and help reduce the national debt. However, economists believe the tariffs will drive up car prices and hurt consumers, who are already facing high prices.

    “This is a major blow to the auto industry. Ford and GM shares are down sharply,” Gary Clyde Hufbauer, a non-resident senior fellow at the Peterson Institute for International Economics, told Xinhua.

    “The higher cost of autos cut demand, especially since consumers are in weak shape financially,” Hufbauer said. “I expect substantial job losses in U.S. auto and parts firms.”

    MIL OSI China News –

  • MIL-OSI USA: Padilla Secures Commitment from EPA Nominee to Help Combat Tijuana River Pollution Crisis

    US Senate News:

    Source: United States Senator Alex Padilla (D-Calif.)

    Padilla Secures Commitment from EPA Nominee to Help Combat Tijuana River Pollution Crisis

    WATCH: Padilla highlights importance of federal infrastructure investments to address cross-border sewage flowsWASHINGTON, D.C. — Today, U.S. Senator Alex Padilla (D-Calif.) secured a commitment from Jessica Kramer, nominee for Assistant Administrator for the Office of Water at the Environmental Protection Agency (EPA), to help address the ongoing Tijuana River transboundary pollution crisis and its harmful environmental and public health impacts.
    During a Senate Environment and Public Works Committee nominations hearing, Padilla highlighted the hundreds of millions in federal funding he secured along with the late Senator Dianne Feinstein and the San Diego Congressional delegation to expand and upgrade the South Bay International Wastewater Treatment Plant (SBIWTP) to address harmful sewage flows. Kramer echoed Senator Padilla’s characterization of these transboundary pollution flows as a “crisis” and emphasized the importance of federal infrastructure investments to combat the crisis. Padilla and Kramer agreed that collaboration and communication, with both Mexico and federal partners like the U.S. Army Corps of Engineers and the State Department, is essential to address these harmful cross-border flows.
    The hearing comes after Padilla, Senator Adam Schiff (D-Calif.), and Representatives Scott Peters (D-Calif.-50) and Juan Vargas (D-Calif.-52) recently invited EPA Administrator Lee Zeldin to visit San Diego’s South Bay International Wastewater Treatment Plant (SBITWP) to see firsthand the ongoing environmental and public health consequences of the cross-border Tijuana River sewage crisis on local communities. Administrator Zeldin also recently expressed concern about the flow of sewage flowing across the border, posting about a briefing he received on the crisis and pushing Mexico to “honor its commitments to control this pollution and sewage.”
    PADILLA: I want to begin by expressing my appreciation for EPA Administrator Zeldin’s interest in one of my top EPA priorities, which is finally resolving the Tijuana River sewage crisis. For decades, communities in that part of Southern California have faced persistent both environmental as well as public health impacts of untreated sewage that has flowed across the border. … We recently invited Administrator Zeldin to tour the plant to see firsthand the challenges that we face. So I’d like to just begin by asking you, Ms. Kramer, how familiar you are with this issue, with the projects because assuming you are confirmed, I’d look forward to working with you to bring this project to completion.
    KRAMER: Absolutely. Thank you, Senator, for that question. During my first tenure at EPA under the first Trump Administration, this is, in fact, one of the issues that I worked on. And so EPA had been appropriated that first amount of funding that you referenced, and I was involved in the consideration of the various projects that could be funded to ensure that this transboundary flow crisis — to be completely frank, raw sewage flowing anywhere, in my mind, is a crisis — comes to an end. … I think the challenges that we’re seeing there, one, stems to ensuring that the infrastructure that is in place to ensure that these flows cease, but also two, ensuring that there is communication, robust communication that allows for partnership that is required to ensure that operation and maintenance of those infrastructure investments takes place. And it’s especially easy when it’s in the U.S., and it’s a little bit more challenging when we have infrastructure on the other side of the border that we need to be collaborating on.
    PADILLA: Well, that’s music to my ears, your familiarity with it, your history with it, your commitment to it as a priority. And yes, collaboration is key, not just with partners south of the border, but even within the federal government. We’ve brought to bear U.S. Army Corps of Engineers and the intricacies of the State Department involvement here. So thank you for that.
    KRAMER: Absolutely.
    Senator Padilla also questioned Brian Nesvik, nominee to be Director of the United States Fish and Wildlife Service at the Department of the Interior, highlighting the complexities of California’s water system and threats to the state’s water security and quality in the face of climate change. He urged Nesvik to roll up his sleeves on California water challenges and encouraged him to listen to career professionals at the Fish and Wildlife Service and experts within California’s state agencies to navigate complex water and wildlife issues.
    Video of Padilla’s full line of questioning is available here.
    Since 2018, more than 100 billion gallons of toxic sewage, trash, and unmanaged stormwater have flowed across the United States-Mexico border into the Tijuana River Valley and neighboring communities, forcing long-lasting beach closures and causing harmful impacts on public health, the environment, and water quality. U.S. military personnel, border patrol agents, and the local economy have also suffered harmful impacts from airborne and waterborne transboundary sewage flows. In 2023, sewage flowed across the border at the highest volume in a quarter century, exceeding 44 billion gallons.
    Senator Padilla has prioritized addressing the Tijuana River pollution crisis since he first came to the Senate, recently working with the San Diego Congressional delegation to secure $250 million in the federal disaster relief package to clean up the Tijuana River. This marked the final tranche of funding required to complete the SBIWTP upgrade project. The SBIWTP project broke ground in October 2024, and over the coming years, the SBIWTP will double in capacity, reducing transboundary flows by 90 percent. Importantly, Mexico’s rehabilitated San Antonio de los Buenos wastewater treatment plant is expected to be fully operational by Spring 2025, further reducing flows to California communities. 
    In response to a request from Padilla and the San Diego Congressional delegation, the Centers for Disease Control and Prevention (CDC) recently opened an investigation into the public health impacts of air pollution caused by the ongoing Tijuana River transboundary pollution crisis. Senator Padilla and the delegation also recently secured a $200 million authorization for the Tijuana River Valley Watershed and San Diego County through the Water Resources Development Act of 2024 to help address the ongoing transboundary sewage crisis through stormwater conveyance, environmental and ecosystem restoration, and water quality protection projects. They also delivered over $103 million in additional funding for the International Boundary and Water Commission (IBWC) in the bipartisan FY 2024 appropriations package. Padilla previously successfully secured language in the FY 2023 appropriations package to allow the EPA to unlock $300 million previously secured in the U.S.-Mexico-Canada Agreement to the IBWC for water infrastructure projects. Last year, Padilla and Representatives Peters and Vargas announced bicameral legislation to help combat the Tijuana River sewage pollution crisis.
    More information on the hearing is available here.

    MIL OSI USA News –

  • MIL-OSI Canada: Statement from Minister Anandasangaree to Ashlee Shingoose’s Family and Community

    Source: Government of Canada News

    Taking care: This product may contain information that could be upsetting or triggering for some. The Hope for Wellness Help Line provides immediate, toll-free telephone and online-chat based emotional support and crisis intervention to all Indigenous People in Canada. This service is available 24/7 in English and French, and upon request in Cree, Ojibway, and Inuktitut. Trained counsellors are available by phone at 1-855-242-3310 or by online chat at hopeforwellness.ca.

    Ottawa, Ontario (March 26, 2025) — Minister of Justice and Attorney General of Canada and Minister of Crown-Indigenous Relations and Northern Affairs, Gary Anandasangaree, issued the following statement:

    “Today, the Winnipeg Police Service confirmed the identity of the missing woman who had been named Mashkode Bizhiki’ikwe – Buffalo Woman as Ashlee Shingoose of St. Theresa Point First Nation.

    I offer my deepest condolences to Ashlee’s family, loved ones, and community. As the family takes this time to grieve, we must respect their privacy. This is a heartbreaking loss, and I extend my deepest condolences as you grieve and honour her memory.

    We must all act to end the national crisis of missing and murdered Indigenous women, girls, Two-Spirit, and gender diverse people.”

    MIL OSI Canada News –

  • MIL-OSI USA: Rosen Pushes Back on Attempts to Use AI to Raise Prices

    US Senate News:

    Source: United States Senator Jacky Rosen (D-NV)

    WASHINGTON, DC – U.S. Senator Jacky Rosen (D-NV) sent a letter to Federal Trade Commission (FTC) Chairman Andrew Ferguson expressing concern over the use of artificial intelligence (AI) by corporations to target individuals with different prices for the same products through surveillance pricing. Senator Rosen urged Chair Ferguson to reverse his decision to close a public comment window early so the FTC can fully understand how large retailers are using technology to hurt consumers’ budgets.
    “I write to express my concern with your recent decision to close the public comment window two months early on the FTC’s Request for Information regarding retailers’ use of such surveillance pricing,” wrote Senator Rosen. “I urge you to reopen this public comment period, as it is important for the agency to fully understand how surveillance pricing is potentially driving up costs for consumers.”
    “Recent improvements in artificial intelligence (AI) and the accumulation of specific consumer data like geographic location and demographic information are allowing large corporate retailers to raise prices artificially, inconsistently, and unfairly,” she continued. “With Nevadans already experiencing some of the
    highest grocery prices in the United States, consumers’ ability to compare costs across stores and find the lowest price is important for putting food on the table.”
    The full letter can be found HERE.
    Senator Rosen has been pushing back on the Trump Administration’s actions that raise prices for hardworking Nevadans. Last month, she took to the Senate floor to call out the Trump Administration for its lack of actions to lower grocery prices and address the egg shortage. Senator Rosen has also been urging her colleagues to reject Congressional Republicans’ legislative plans to increase the cost of living for Americans. Additionally, she sent a letter urging the Trump Administration to reverse course on imposing tariffs on Canada and Mexico to prevent housing prices from rising even further. Earlier this month, Senator Rosen strongly criticized President Trump for resuming the implementation of his across-the-board tariffs on imported goods from Mexico and Canada.

    MIL OSI USA News –

  • MIL-OSI China: Canadian government looking for possible retaliation against US auto tariffs

    Source: China State Council Information Office

    Canadian Prime Minister Mark Carney on Wednesday said his government will be looking at its options for possible retaliation against the U.S. auto tariffs, local media reported.

    The liberal leader on his election campaign tour said the tariffs are “a direct attack” against Canadian workers, regardless of how they are applied, according to CBC News.

    “We have anticipated this possibility,” he was quoted as saying. “We will take the steps that are in the interests of Canadian workers, of Canada. We’re going to stand up for Canada. We’re going to be united.”

    Previously Carney announced a “strategic response fund” which is valued at 2 billion Canadian dollars (1.4 billion U.S. dollars) to bolster the country’s auto industry.

    Carney said the money would be used to boost the auto sector’s competitiveness, protect manufacturing jobs, help workers gain expertise and build “a fortified Canadian supply chain.”

    Auto parts often cross the border multiple times, and the added costs of tariffs and counter-tariffs would quickly snowball.

    Carney called that a “huge vulnerability” and promised to build an “all-in-Canada” manufacturing network to build more car parts domestically, limiting how often they cross the border during production.

    “In the new world, that will be an advantage,” he was quoted as saying. “That will help insulate us from President Trump’s trade threats and it will grow the economy.”

    If elected on April 28, Carney said his government would also prioritize and procure Canadian-built vehicles, reported CBC News.

    U.S. President Donald Trump announced plans on Wednesday for a 25-percent tariff on all vehicles not made in the United States as of April 2. 

    MIL OSI China News –

  • MIL-Evening Report: New sentencing laws will drive NZ’s already high imprisonment rates – and budgets – even higher

    Source: The Conversation (Au and NZ) – By Linda Mussell, Senior Lecturer, Political Science and International Relations, University of Canterbury

    Paremoremo Maximum Security Prison near Auckland. Getty Images

    With the government’s Sentencing (Reform) Amendment Bill about to become law within days, New Zealand’s already high incarceration rate will almost certainly climb even higher.

    The new legislation essentially limits how much judges can reduce a prison sentence for mitigating factors (such as a guilty plea, young age or mental ability). A regulatory impact statement from the Ministry of Justice estimated it would result in 1,350 more people in prison.

    This and other law changes are effectively putting more people in prison for longer. By 2035, imprisonment numbers are expected to increase by 40% from their current levels, with significant cost implications. Last year, the Corrections budget was NZ$1.94 billion, up $150 million from the previous year.

    In sheer numbers, the Ministry of Justice projects the prison population will increase from 9,900 to 11,500 prisoners over the next decade. But Minister of Corrections Mark Mitchell recently said government policies could see a peak of 13,900 prisoners over that period.

    New Zealand’s imprisonment rate is already high at 187 per 100,000 people. That’s double the rate of Canada (90 per 100,000), and well above Australia (163 per 100,000) and England (141 per 100,000).

    Accounting for imprisonment and population projections, New Zealand’s prisoner ratio could be between 238 and 263 per 100,000 by 2035. That is higher than the current imprisonment rate in Iran (228 per 100,000).

    The role of remand

    Much of this increase is driven by the number of people awaiting trial or sentencing on remand. This has risen substantially in the past ten years and is expected to keep rising.

    Remand prisoner numbers are projected to nearly equal sentenced prisoners in 2034. Among women and young people, remand numbers are already higher than for sentenced prisoners.

    In October 2024, 89% of imprisoned youth were on remand, a 15% increase in seven years. In December 2024, 53% of women prisoners were on remand, more than double the 24% rate a decade ago. Men on remand comprise 41% of prisoners, nearly double the 21% rate a decade ago.

    Māori are affected most by these increases, making up 81% of imprisoned youth, 67% of imprisoned women and 53% of imprisoned men.

    Some 30% of those on remand are not convicted. Of those who are, data released to RNZ last year showed 2,138 people (15% of remand prisoners) were not convicted of their most serious change, almost double the 2014 figure of 1,075 people.

    Significant court delays can mean people are remanded for a long time. By 2034, it is projected the average remand time will be 99 days, compared with 83 days in February 2024. As well as being a human rights concern, this is very expensive.

    Minister of Corrections Mark Mitchell: prisoner numbers could reach 13,900 over the next decade.
    Getty Images

    Putting more people away for longer

    Crime and imprisonment rates fluctuate independently of each other, as the former Chief Science Advisor acknowledged in a 2018 report. Increasing imprisonment rates are the result of political decisions, not simple arithmetic.

    The Bail Amendment Act 2013 reversed the onus of proof in certain cases, meaning the default rule is that an accused person will not be granted bail. This results in more people being sent to prison while awaiting a hearing, trial or sentencing.

    When this week’s changes to the Sentencing Act come into effect, they will further constrain judges’ discretion, capping sentence reductions for mitigating factors at 40% (unless it would be “manifestly unjust”).

    At the same time, it has become more difficult for prisoners to return to the community. For example, some are kept in prison or recalled because they do not have stable housing. (Dean Wickliffe, currently on a hunger strike over an alleged assault by prison staff, was arrested for breaching parole by living in his car.)

    Last year, Corrections received $1.94 billion in operating and capital budget, a $150 million increase to account for rising imprisonment numbers and prison expansion. There was no meaningful increase in funding for rehabilitation programmes or investment in legal aid.

    Imprisoning people is expensive. The cost of a person on custodial remand has almost doubled since 2015, from $239 a day to $437. For sentenced prisoners, it is $562 per day. This comes to between $159,505 and $205,130 per year to confine one person.

    The Waikeria expansion and beyond

    Corrections has developed a Long-Term Network Configuration Plan to meet anticipated prison population growth. This year’s budget in May will fund 240 high-security beds and 52 health centre beds at Christchurch men’s prison, at a cost of approximately $700-800 million.

    Those 240 beds will fit within 160 cells, meaning “double-bunking”. This is known to have a significant impact to prisoner health and rehabilitation, and can also add to staffing costs.

    Former corrections minister Kelvin Davis acknowledged this before the first 600-bed expansion of Waikeria prison, costed at $750 million in 2018. By June 2023, that had increased by 22% to $916 million.

    The second Waikeria expansion will deliver another 810 beds for an estimated $890 million, although the exact budget has been unclear. These projects will involve public private partnership, a model known for not always delivering the cost savings and service quality initially promised.

    There will be other costs for facilities maintenance, asset management services and financing. And there can be unanticipated costs, too. For example, the government’s partner in the Waikeria expansion, Cornerstone, claimed $430 million against Corrections in 2022 for “time and productivity losses” due to COVID-19.

    These overall trends are happening while the government is also cutting funding for important social services. Shifting resources to improve social supports would be a better option – and one that has worked in Finland – than pouring more money into expanding prisons.

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

    – ref. New sentencing laws will drive NZ’s already high imprisonment rates – and budgets – even higher – https://theconversation.com/new-sentencing-laws-will-drive-nzs-already-high-imprisonment-rates-and-budgets-even-higher-253119

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI USA: Former North Dakota State Senator Sentenced to 10 Years’ Imprisonment for Traveling to Prague to Engage in Commercial Sex with Children

    Source: US State of North Dakota

    A former North Dakota state legislator for 45 years was sentenced today to 10 years in prison for traveling to Prague in the Czech Republic, where he paid to sexually exploit children.

    According to court documents, Raymon (Ray) Everett Holmberg, 81, of Grand Forks, traveled to Prague approximately 14 times between 2011 and 2021. During these trips, while staying at a brothel that catered to men looking to engage in commercial sex with adolescent boys, Holmberg paid for sex acts with boys. During some of the trips, Holmberg used the alias “Sean Evans.” Witnesses told law enforcement that Holmberg did not want his name on the brothel’s registry because he was a North Dakota state legislator. Witnesses also told law enforcement that Holmberg would also visit a public park in front of the main train station in Prague to procure sex from underage boys. 

    Holmberg also used the “Evans” alias to tell friends about his trips and encourage them to travel to Prague. In these communications, Holmberg shared an image of an adolescent boy that he called “his twink,” and said that “no one is ever to [sic] young . . . remember Prague.” He emailed a different friend a link to a brothel in Prague and suggested that they go that summer, writing: “The boys rent at around $60 . . .  (sex is extra).”  Holmberg also wrote: “It will be decadent but oh so much fun bro.  What happens in Prague—Stays in Prague.” Back in the United States, Holmberg boasted about having engaged in sexual activity with boys as young as 12- and 15-years old during his travels.

    According to the government’s sentencing memorandum, Holmberg’s sexual exploitation of minors was not limited to his trips to Prague. Holmberg established an online relationship with a 16-year-old Canadian boy, posing as a boy of a similar age in order to manipulate the Canadian teen into taking images of himself engaging in sexually explicit conduct and sending them to Holmberg.  

    On Aug. 8, 2024, Holmberg pleaded guilty to traveling in foreign commerce for the purpose of engaging in illicit sexual conduct.

    Matthew R. Galeotti, Head of the Justice Department’s Criminal Division and Acting U.S. Attorney Jennifer Puhl for the District of North Dakota made the announcement.

    Homeland Security Investigations, Grand Forks, and the North Dakota Bureau of Criminal Investigations investigated the case.

    Trial Attorney Charles Schmitz of the Justice Department’s Criminal Division, Child Exploitation and Obscenity Section, and Acting U.S. Attorney Jennifer Puhl for the District of North Dakota are prosecuting the case.

    This case was brought as part of Project Safe Childhood, a nationwide initiative to combat the epidemic of child sexual exploitation and abuse launched in May 2006 by the Department of Justice. Led by U.S. Attorneys’ Offices and CEOS, Project Safe Childhood marshals federal, state, and local resources to better locate, apprehend, and prosecute individuals who exploit children via the internet, as well as to identify and rescue victims. For more information about Project Safe Childhood, visit www.justice.gov/psc.

    MIL OSI USA News –

  • MIL-OSI Security: Former North Dakota State Senator Sentenced to 10 Years’ Imprisonment for Traveling to Prague to Engage in Commercial Sex with Children

    Source: United States Attorneys General 2

    A former North Dakota state legislator for 45 years was sentenced today to 10 years in prison for traveling to Prague in the Czech Republic, where he paid to sexually exploit children.

    According to court documents, Raymon (Ray) Everett Holmberg, 81, of Grand Forks, traveled to Prague approximately 14 times between 2011 and 2021. During these trips, while staying at a brothel that catered to men looking to engage in commercial sex with adolescent boys, Holmberg paid for sex acts with boys. During some of the trips, Holmberg used the alias “Sean Evans.” Witnesses told law enforcement that Holmberg did not want his name on the brothel’s registry because he was a North Dakota state legislator. Witnesses also told law enforcement that Holmberg would also visit a public park in front of the main train station in Prague to procure sex from underage boys. 

    Holmberg also used the “Evans” alias to tell friends about his trips and encourage them to travel to Prague. In these communications, Holmberg shared an image of an adolescent boy that he called “his twink,” and said that “no one is ever to [sic] young . . . remember Prague.” He emailed a different friend a link to a brothel in Prague and suggested that they go that summer, writing: “The boys rent at around $60 . . .  (sex is extra).”  Holmberg also wrote: “It will be decadent but oh so much fun bro.  What happens in Prague—Stays in Prague.” Back in the United States, Holmberg boasted about having engaged in sexual activity with boys as young as 12- and 15-years old during his travels.

    According to the government’s sentencing memorandum, Holmberg’s sexual exploitation of minors was not limited to his trips to Prague. Holmberg established an online relationship with a 16-year-old Canadian boy, posing as a boy of a similar age in order to manipulate the Canadian teen into taking images of himself engaging in sexually explicit conduct and sending them to Holmberg.  

    On Aug. 8, 2024, Holmberg pleaded guilty to traveling in foreign commerce for the purpose of engaging in illicit sexual conduct.

    Matthew R. Galeotti, Head of the Justice Department’s Criminal Division and Acting U.S. Attorney Jennifer Puhl for the District of North Dakota made the announcement.

    Homeland Security Investigations, Grand Forks, and the North Dakota Bureau of Criminal Investigations investigated the case.

    Trial Attorney Charles Schmitz of the Justice Department’s Criminal Division, Child Exploitation and Obscenity Section, and Acting U.S. Attorney Jennifer Puhl for the District of North Dakota are prosecuting the case.

    This case was brought as part of Project Safe Childhood, a nationwide initiative to combat the epidemic of child sexual exploitation and abuse launched in May 2006 by the Department of Justice. Led by U.S. Attorneys’ Offices and CEOS, Project Safe Childhood marshals federal, state, and local resources to better locate, apprehend, and prosecute individuals who exploit children via the internet, as well as to identify and rescue victims. For more information about Project Safe Childhood, visit www.justice.gov/psc.

    MIL Security OSI –