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Category: Canada

  • MIL-OSI: Enerflex Ltd. Announces Leadership Transition

    Source: GlobeNewswire (MIL-OSI)

    MARC ROSSITER STEPS DOWN AS PRESIDENT, CEO, AND DIRECTOR

    PREET DHINDSA NAMED INTERIM CEO

    REAFFIRMS 2025 OUTLOOK AND CONCURRENTLY ANNOUNCES EXPANSION OF DIRECT SHAREHOLDER RETURNS

    CALGARY, Alberta, March 19, 2025 (GLOBE NEWSWIRE) — Enerflex Ltd. (TSX: EFX) (NYSE: EFXT) (“Enerflex” or the “Company”) today announced that Marc Rossiter has stepped down as President, CEO, and Director, effective immediately.

    Preet Dhindsa, Enerflex’s current Senior Vice President and CFO, will serve as Interim Chief Executive Officer. Mr. Dhindsa joined Enerflex in October 2023 and is a seasoned executive with more than 25 years of experience, primarily in the energy and financial services industries.

    Joe Ladouceur, Vice President Treasury, Tax & Insurance, will serve as Interim CFO.

    The Board is undertaking a comprehensive search to identify the Company’s next CEO and has retained a leading executive search firm to assist with this process.

    Kevin Reinhart, Chair of the Board of Directors, stated, “As we look to the future and position Enerflex to create shareholder value over the long-term, the Board decided that now is the right time to undertake a leadership transition. We thank Marc for his more than 25 years of dedicated service and commitment to Enerflex, including the last six years as CEO, and wish him the best in his future endeavors.”

    Mr. Rossiter said, “Leading Enerflex has been a true privilege, and I’m incredibly proud of all that we’ve accomplished together to propel the business forward over the past six years. Thanks to the dedication of a talented team, Enerflex is well-positioned to build on its positive momentum and I believe the Company has a bright future.”

    Mr. Reinhart added, “Preet has been instrumental in Enerflex’s efforts to “Simplify, Optimize, and Grow” and we are fortunate to have him serve as Interim Chief Executive Officer. With the support and collaboration of a deep bench of executive talent, we are confident in Preet’s ability to lead Enerflex in this interim period as we complete our search for a permanent CEO.

    Enerflex’s near-term priorities remain unchanged and include: (1) enhancing the profitability of core operations; (2) leveraging the Company’s leading position in core operating countries to capitalize on expected increases in natural gas and produced water volumes; and (3) maximizing free cash flow to further strengthen Enerflex’s financial position, provide direct shareholder returns, and invest in selective customer supported growth opportunities.”

    Mr. Dhindsa commented, “I am excited to continue working closely with the Board, management, and our colleagues across the Company. Our focus remains on generating sustainable free cash flow, further improving balance sheet health, and positioning the Company for long-term growth and value creation. With the Company operating within its target leverage range, Enerflex is positioned to increase direct shareholder returns, as reflected by (1) the previously announced 50% increase of the Company’s quarterly dividend and (2) today’s concurrent announcement of the Company’s intention to implement a normal course issuer bid.”

    OUTLOOK

    All amounts presented are in U.S. Dollars (“USD”) unless otherwise stated.

    Enerflex is reaffirming its outlook for 2025, which reflects:

    1. Steady demand across the Company’s business lines and geographic regions, although Enerflex continues to closely monitor geopolitical tensions across North America, including the potential impact of tariffs. Based on currently available information, the direct impact of tariffs on Enerflex’s business is expected to be mitigated by the Company’s diversified operations and proactive risk management.
    2. Approximately 65% of the Company’s gross margin before depreciation and amortization is generated by the highly contracted Energy Infrastructure product line and the recurring nature of its After-Market Services business.
    3. The expectation that Engineered Systems’ gross margin before depreciation and amortization will be more consistent with the historical long-term average for this business line and that near-term revenue is expected to remain steady.
    4. A disciplined capital program in 2025, with total capital expenditures of $110 million to $130 million. Growth capital spending of $40 million to $60 million will focus on customer supported opportunities in the US and Middle East.

    About Preet Dhindsa

    Since joining Enerflex, Preet has spearheaded several corporate initiatives including improving balance sheet health and enhancing the global finance function. Prior to joining Enerflex, Preet served as Executive Vice President and Chief Financial Officer at ENMAX Corporation, a regulated utility with energy generation and retail lines of business. Prior thereto, Preet was Senior Vice President and Chief Financial Officer, Global Banking & Markets (GBM), at Scotiabank, leading international finance teams. Preet began his career as a professional accountant with KPMG and holds a Bachelor of Science degree in Mathematics & Statistics from Western University and a Graduate Diploma in Accounting from Wilfrid Laurier University. Preet is a Chartered Professional Accountant and Chartered Director.

    About Joe Ladouceur

    Prior to joining Enerflex, Joe served as President and CEO of Platinum Energy Services Ltd. until he successfully managed its sale in 2022. With over 30 years of experience in the finance and energy industries, Joe has held numerous executive leadership roles with Canadian E&P, energy services, and equipment fabrication companies. He began his career with Royal Bank of Canada and RBC Dominion Securities, where he was involved in corporate banking and global energy projects. Joe holds an Honors Business Administration degree with a major in finance from the Ivey Business School in London, Ontario, a Master of Business Administration from KU Leuven in Belgium, and an Honorary Fellowship from St. Mary’s University in Calgary.

    ADVISORY REGARDING FORWARD-LOOKING INFORMATION

    This news release contains “forward-looking information” within the meaning of applicable Canadian securities laws and “forward-looking statements” (and together with “forward-looking information”, “FLI”) within the meaning of the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are FLI. The use of any of the words “anticipate”, “believe”, “could”, “estimate”, “expect”, “future”, “intend”, “may”, “plan”, “potential”, “predict”, “should”, “will” and similar expressions, (including negatives thereof) are intended to identify FLI.

    In particular, this news release includes (without limitation) forward-looking information and statements pertaining to:

    • the Company’s near-term priorities and its positioning for long-term growth and value creation;
    • the CEO transition and the CEO search, including with respect to the time it will take to complete the CEO search and the impact the CEO search and the CEO transition may have on the Company and its operations;
    • the Company’s intention to implement a normal course issuer bid, the terms and conditions of such bid, the anticipated receipt of all required regulatory approvals, and the timing associated therewith;
    • disclosures under the heading “Outlook” including:
      • expectations for steady demand across the Company’s business lines and geographic regions;
      • the potential impact of tariffs and the expectation that such impact will be mitigated by the Company’s diversified operations and proactive risk management;
      • the highly contracted Energy Infrastructure product line and the recurring nature of After-Market Services will, together, account for approximately 65% of Enerflex’s gross margin before depreciation and amortization;
      • the expectation that Engineered Systems gross margin before depreciation and amortization will be more consistent with the historical long-term average for this business line and that near term revenue will remain steady;
      • total capital expenditures in 2025 being $110 million to $130 million with growth capital spending of $40 million to $60 million focused on customer supported opportunities in the US and Middle East; and
    • the ability of Enerflex to continue to pay a sustainable quarterly cash dividend.

    FLI reflects management’s current beliefs and assumptions with respect to such things as the impact of general economic conditions; commodity prices; the markets in which Enerflex’s products and services are used; general industry conditions, forecasts, and trends; changes to, and introduction of new, governmental regulations, laws, and income taxes; increased competition; availability of qualified personnel; political unrest and geopolitical conditions; and other factors, many of which are beyond the control of Enerflex. More specifically, Enerflex’s expectations in respect of its FLI are based on a number of assumptions, estimates and projections developed based on past experience and anticipated trends, including but not limited to:

    • Enerflex has the financial capacity, regulatory compliance, and board approval necessary to pursue a normal course issuer bid and that market conditions will support such a buyback program within the anticipated timeframe;
    • any tariffs imposed will have a manageable impact on our operations and cost structure and increased domestic energy production will offset any negative effects of such tariffs;
    • market dynamics, including increased energy demand, infrastructure development, and production activity, will drive growth in natural gas and produced water volumes across Enerflex’s core operating countries;
    • market conditions, customer activity, and industry fundamentals will support stable demand across our business lines and geographic regions throughout 2025;
    • the high level of contractual commitments within the Energy Infrastructure product line and the predictable, recurring revenue from After-Market Services will continue;
    • existing customer contracts within the Energy Infrastructure product line will remain in effect and with no material cancellations or renegotiations over their remaining terms;
    • Enerflex will maintain sufficient cash flow, profitability, and financial flexibility to support the ongoing payment of a sustainable quarterly cash dividend, subject to market conditions, operational performance, and board approval.

    As a result of the foregoing, actual results, performance, or achievements of Enerflex could differ and such differences could be material from those expressed in, or implied by, the FLI. The principal risks, uncertainties and other factors affecting Enerflex and its business are identified under the heading “Risk Factors” in: (i) Enerflex’s Annual Information Form for the year ended December 31, 2024, dated February 27, 2025; and (ii) Enerflex’s Annual Report dated February 26, 2025, copies of which are available under the electronic profile of the Company on SEDAR+ and EDGAR at www.sedarplus.ca and www.sec.gov/edgar, respectively.

    The FLI included in this news release are made as of the date of this news release and are based on the information available to the Company at such time and, other than as required by law, Enerflex disclaims any intention or obligation to update or revise any FLI, whether as a result of new information, future events, or otherwise. This news release and its contents should not be construed, under any circumstances, as investment, tax, or legal advice.

    The outlook provided in this news release is based on assumptions about future events, including economic conditions and proposed courses of action, based on Management’s assessment of the relevant information currently available. The outlook is based on the same assumptions and risk factors set forth above and is based on the Company’s historical results of operations. The outlook set forth in this news release was approved by Management and the Board of Directors. Management believes that the prospective financial information set forth in this news release has been prepared on a reasonable basis, reflecting Management’s best estimates and judgments, and represents the Company’s expected course of action in developing and executing its business strategy relating to its business operations. The prospective financial information set forth in this news release should not be relied on as necessarily indicative of future results. Actual results may vary, and such variance may be material.

    ABOUT ENERFLEX

    Enerflex is a premier integrated global provider of energy infrastructure and energy transition solutions, deploying natural gas, low-carbon, and treated water solutions – from individual, modularized products and services to integrated custom solutions. With over 4,600 engineers, manufacturers, technicians, and innovators, Enerflex is bound together by a shared vision: Transforming Energy for a Sustainable Future. The Company remains committed to the future of natural gas and the critical role it plays, while focused on sustainability offerings to support the energy transition and growing decarbonization efforts.

    Enerflex’s common shares trade on the Toronto Stock Exchange under the symbol “EFX” and on the New York Stock Exchange under the symbol “EFXT”. For more information about Enerflex, visit www.enerflex.com.

    For investor and media enquiries, contact:

    Preet S. Dhindsa
    Interim Chief Executive Officer
    E-mail: PDhindsa@enerflex.com

    Jeff Fetterly
    Vice President, Corporate Development and Capital Markets
    E-mail: JFetterly@enerflex.com

    The MIL Network –

  • MIL-OSI: Enerflex Ltd. Announces Normal Course Issuer Bid

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, March 19, 2025 (GLOBE NEWSWIRE) — Enerflex Ltd. (TSX: EFX) (NYSE: EFXT) (“Enerflex” or the “Company”) today announced Board approval to implement a Normal Course Issuer Bid (“NCIB”).

    The Company intends to make an application to the Toronto Stock Exchange (“TSX”) to implement a NCIB that would permit the Company to purchase for cancellation, through the facilities of the TSX, alternative Canadian trading systems or the New York Stock Exchange, common shares representing up to 5% of the public float over a period of twelve months. The NCIB is subject to acceptance by the TSX and will be conducted in accordance with the rules and policies of the TSX and applicable securities laws.

    Preet Dhindsa, Enerflex’s  Interim CEO stated, “With the Company operating within its target leverage range, Enerflex is positioned to increase direct shareholder returns. This is reflected through: (1) the previously announced 50% increase of the Company’s quarterly dividend; and (2) today’s announcement of the Company’s intention to implement a NCIB.”

    Enerflex believes that: (1) the repurchase of common shares would be an effective use of its cash resources and in the best interests of Enerflex and its shareholders; and (2) the current market price of its common shares does not fully reflect their underlying value.

    Further details regarding the NCIB will be provided following TSX approval.

    ADVISORY REGARDING FORWARD-LOOKING INFORMATION

    This news release contains “forward-looking information” within the meaning of applicable Canadian securities laws and “forward-looking statements” (and together with “forward-looking information”, “FLI”) within the meaning of the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are FLI. The use of any of the words “intend”, “will”, “may”, and similar expressions, are intended to identify FLI. In particular, this news release includes (without limitation) FLI and statements pertaining to the Company’s intention to implement a NCIB, the terms and conditions of such bid, the anticipated receipt of all regulatory approvals including the approval of the TSX, and the timing associated therewith and the Company’s positioning to increase direct shareholder returns.

    FLI reflects management’s current beliefs and assumptions with respect to such things as the impact of general economic conditions; commodity prices; the markets in which Enerflex’s products and services are used; general industry conditions, forecasts, and trends; changes to, and introduction of new, governmental regulations, laws, and income taxes; increased competition; availability of qualified personnel; political unrest and geopolitical conditions; and other factors, many of which are beyond the control of Enerflex. More specifically, Enerflex’s expectations in respect of its FLI are based on a number of assumptions, estimates and projections developed based on past experience and anticipated trends, including that Enerflex has the financial capacity, regulatory compliance, and board approval necessary to pursue a NCIB and that market conditions will support such a buyback program within the anticipated timeframe. As a result of the foregoing, actual results, performance, or achievements of Enerflex could differ and such differences could be material from those expressed in, or implied by, the FLI. The principal risks, uncertainties and other factors affecting Enerflex and its business are identified under the heading “Risk Factors” in: (i) Enerflex’s Annual Information Form for the year ended December 31, 2024, dated February 27, 2025; and (ii) Enerflex’s Annual Report dated February 26, 2025, copies of which are available under the electronic profile of the Company on SEDAR+ and EDGAR at www.sedarplus.ca and www.sec.gov/edgar, respectively.

    Readers are cautioned that the foregoing list of assumptions and risk factors should not be construed as exhaustive. The FLI included in this news release are made as of the date of this news release and are based on the information available to the Company at such time and, other than as required by law, Enerflex disclaims any intention or obligation to update or revise any FLI, whether as a result of new information, future events, or otherwise. This news release and its contents should not be construed, under any circumstances, as investment, tax, or legal advice.

    ABOUT ENERFLEX

    Enerflex is a premier integrated global provider of energy infrastructure and energy transition solutions, deploying natural gas, low-carbon, and treated water solutions – from individual, modularized products and services to integrated custom solutions. With over 4,600 engineers, manufacturers, technicians, and innovators, Enerflex is bound together by a shared vision: Transforming Energy for a Sustainable Future. The Company remains committed to the future of natural gas and the critical role it plays, while focused on sustainability offerings to support the energy transition and growing decarbonization efforts.

    Enerflex’s common shares trade on the Toronto Stock Exchange under the symbol “EFX” and on the New York Stock Exchange under the symbol “EFXT”. For more information about Enerflex, visit www.enerflex.com.

    For investor and media enquiries, contact:

    Preet S. Dhindsa
    Interim Chief Executive Officer
    E-mail: PDhindsa@enerflex.com

    Jeff Fetterly
    Vice President, Corporate Development and Capital Markets
    E-mail: JFetterly@enerflex.com

    The MIL Network –

  • MIL-OSI Canada: Statement from the Deputy Clerk of the Privy Council and National Security and Intelligence Advisor to the Prime Minister

    Source: Government of Canada News

    Ottawa, March 19, 2025 – Today, Canada’s Deputy Clerk to the Privy Council, and National Security and Intelligence Advisor to the Prime Minister, Nathalie G. Drouin, issued the following statement:

    “Today, I convened a meeting of G7 National Security Advisors (NSAs) and Ukraine to discuss the ongoing peace talks, and how G7 NSAs can support Ukraine now and moving forward, in discussions to end Russia’s unjustified war of aggression against Ukraine.

    “I welcomed the progress of the United States (U.S.) to advance a ceasefire, including recent discussions between Ukraine and the U.S. We discussed how a ceasefire must be respected, and robust and credible security arrangements are needed to ensure that Ukraine can deter and defend against any renewed acts of aggression. The importance of economic and humanitarian support was also highlighted as important to promote the recovery and reconstruction of Ukraine.

    “I reaffirmed Canada’s unwavering support for Ukraine and that Russia must be held to account for their acts of aggression against Ukraine. I underscored that as part of Canada’s G7 presidency, Ukraine remains a priority as the G7 works together to achieve a durable peace and to ensure that Ukraine remains democratic, free, strong, and prosperous.

    “I look forward to remaining in close and regular contact with the G7 NSAs and Ukraine on this pressing issue. 

    MIL OSI Canada News –

  • MIL-OSI China: China, US museum leaders gather in Chicago for more cooperation

    Source: China State Council Information Office 3

    Museum leaders from China, the United States and Canada gathered Wednesday at the Field Museum in downtown Chicago to seek more exchanges and cooperation.

    Under the theme of “Now/Next: Make an Impact Together,” leaders from more than 20 museums in China, the United States and Canada exchanged views on topics such as “Museum Collaboration during the New Globalization Era: Opportunities and Challenges,” “Exhibiting Asian Art and Culture in the East and West,” “Research and Exhibiting the Art and Archaeology Collections: Collaborations between Museums and Academia” and “AI, the New Digital Age: Reshaping the Future of Museums” at the Pritzker China-U.S. Museum Leadership Forum.

    The Pritzker Art Collaborative and the Chinese Museums Association, the U.S. and Chinese sponsors of the forum, signed a memorandum of understanding (MOU) at the forum, aiming to further promote exchanges among the museums in the two countries.

    In his welcome and opening speech, David Pritzker, director and chief curator of the Pritzker Art Collaborative, said the aim of hosting the forum is to build trust and collaboration, as “the best way to build trust is to have shared experience.”

    The Pritzker Art collaborative was originally created to collaborate with the Dunhuang Academy. “During that time we became very close with a number of museums around China and also with the Chinese Museums Association,” Pritzker said.

    By signing the MOU, “we would like to organize more events to bring museum directors in the U.S. and in China together to speak, to share, to get to know one another,” Pritzker said. “The Pritzker Art collaborative can be a bridge to try to make it happen.”

    “Museums are windows for the learning of civilizations,” said Chinese Consul General Wang Baodong in Chicago in his opening remarks. “The forum is a highlight of the China-U.S. cultural dialogue.”

    “We firmly believe that the improvement and development of China-U.S. relations are the common wishes of the people of the two countries,” wang said.

    A program has been funded jointly by the China Museums Association and the Tencent Foundation to bring Chinese museum professionals to the United States for fellowships from six months to one year.

    Douglas Dillon, chairman of the Department of Asian Art of The Metropolitan Museum of Art in New York City, expressed the hope that U.S. museum professionals may go to China in the future to get a better understanding of Chinese museums.

    “Chinese museums are developing very fast, in the way they display and the method they restore relics. There are lots that we can learn,” Dillon said.

    MIL OSI China News –

  • MIL-Evening Report: Trump is ignoring the power of nationalism at his own peril

    Source: The Conversation (Au and NZ) – By David Smith, Associate Professor in American Politics and Foreign Policy, US Studies Centre, University of Sydney

    US President Donald Trump has exploited American nationalism as effectively as anyone in living memory. What sets him apart is his use of national humiliation as a political emotion. Any presidential candidate can talk their country up, but Trump knows how to talk his country down.

    Trump’s consistent message has been that American problems – trade deficits, job losses, illegal immigration, crime and even drug addiction – are the result of deliberate acts by other countries. The really humiliating part is that American politicians let it happen.

    Many Americans have welcomed Trump’s message that their country’s problems can be solved by reestablishing international dominance. They see this nationalist approach as an overdue corrective to the “globalist” foreign policies of the post-second world war era.

    But people in other countries also have feelings of national pride and aspire to be free from foreign domination. This should be obvious, but so far Trump is ignoring the power of nationalism in other countries even as he harnesses it in his own. This makes his foreign policy job a lot harder.

    How Canadians have rallied against Trump

    Take the example of Canada.

    When Trump was elected to his second term in November 2024, it seemed certain there would soon be a Canadian prime minister who was more aligned with him than Justin Trudeau. Trudeau’s unpopularity had dragged the Liberal Party down, and the populist Conservative leader Pierre Poilievre looked set to win the this year’s election.

    As he prepared for a trade war with Canada, Trump could have concentrated his fire on his enemies in the doomed Liberal government. Instead, he spent months insulting Canada’s national identity. He repeatedly said Canada should be the “51st state of the US”, calling Trudeau “governor”.

    Trump says ‘Canada was meant to be our 51st state’ in a Fox News interview.

    Americans can dismiss Trump’s talk of annexing Canada as a joke, but Canadians can’t. Regardless of whether Trump would ever follow through with attempting an annexation, his language is an attack on Canadian sovereignty. No one with any sense of national pride would tolerate it.

    An Angus Reid poll found the number of people saying they had a “deep emotional attachment” to Canada rose from 49% to 59% from December 2024 to February 2025. That emotional attachment is visible in everything from “buy Canadian” campaigns to Canadians booing the US national anthem at hockey games.

    The Liberals, under new leader Mark Carney, are also experiencing a remarkable bounce-back in the polls.

    Another Angus Reid poll shows that voting intention for the Liberals has surged from 16% in December to 42% now. They are now leading the Conservatives, who have 37% support. Some are now anticipating a snap election could be called in days.

    Ontario Premier Doug Ford, who has sometimes been likened to Trump, has also led a ferocious pro-Canadian resistance to American tariffs, getting his own re-election boost.

    Trump’s defenders often claim his chaotic bluster is simply a negotiating tactic, a way of spooking others into accepting terms more favourable to him. If so, this tactic is backfiring in Canada.

    Trade wars require sacrifices. Citizens must pay more for the sake of protecting their countries’ industries. Canadians seem a lot more willing to make that sacrifice than Americans, who are mostly confused that their friendly neighbour has suddenly been recast as an enemy.

    The importance of national identity

    Other countries have shown they will not cave easily, either, as Trump puts their national identity at stake.

    Demanding to buy another country’s territory, as Trump keeps doing with Greenland, a self-governing territory under Danish control, may be even more insulting than threatening to take it, as he keeps doing with Panama. Each time Greenlanders, Danes and Panamanians refuse Trump, his credibility erodes further.

    Trump talks about the territory of other countries in terms of “real estate”, even suggesting the United States should “redevelop” Gaza after evicting the Palestinians.

    But sovereign land is not real estate. In a world of nation-states defined by territory, even sparsely inhabited territory has “sacred value”. This is particularly true for peoples seeking statehood on their land.

    “Sacred values” are things people see as non-negotiable because they are linked to their sense of identity and moral order in the world. Researchers warn that offering money in exchange for sacred values is deeply offensive, and likely to harm, rather than help, negotiations.

    There is a reason why governments hardly ever sell their territory to other countries anymore. Empires may have done in this in the past, but not nations. They view their lands, and the people who live on them, as inalienable from the nation.

    Trump clearly doesn’t understand this concept. He has shown no empathy for Ukraine, a country whose territory actually has been invaded. He accused Ukrainian President Volodomyr Zelenskyy of wanting to prolong the war so he could “keep the gravy train going”, as if harvesting US aid dollars was the real reason Ukrainians were fighting for their country’s existence.

    Trump’s contempt for Ukraine, Canada, Greenland, Gaza, Denmark and Panama has reverberations far beyond these places. It signals that his brand of American nationalism has no place for anyone else’s national aspirations or sovereignty.

    This will not promote the deal-making Trump wants because no one trusts an unstable, imperial power to stick to its agreements. It would be painful for many countries to reduce their dependence on the United States, but it would be more painful to give away their national dignity.

    David Smith 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. Trump is ignoring the power of nationalism at his own peril – https://theconversation.com/trump-is-ignoring-the-power-of-nationalism-at-his-own-peril-252299

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI: North American Construction Group Ltd. Announces Results for the Fourth Quarter and Year Ended December 31, 2024

    Source: GlobeNewswire (MIL-OSI)

    ACHESON, Alberta, March 19, 2025 (GLOBE NEWSWIRE) — North American Construction Group Ltd. (“NACG”) (TSX:NOA/NYSE:NOA) today announced results for the fourth quarter and year ended December 31, 2024. Unless otherwise indicated, figures are expressed in Canadian dollars with comparisons to prior periods ended December 31, 2023.

    Fourth Quarter 2024 Highlights:

    • Combined revenue of $372.7 million, compared to $405.4 million in the same period last year. Reported revenue of $305.6 million, compared to $328.3 million in the same period last year, was generated by our wholly owned subsidiaries as incremental scopes and strong equipment utilization of 82% in Australia were more than offset by lower demand for our Canadian heavy equipment fleet when comparing to 2023 Q4.
    • Our net share of revenue from equity consolidated joint ventures was $67.1 million in 2024 Q4 and compared to $77.1 million in the same period last year as the consistency in the Fargo and MNALP joint ventures were offset by lower scopes being completed within the Nuna Group of Companies.
    • Adjusted EBITDA of $103.7 million and margin of 27.8% compared favorably to the prior period operating metrics of $101.1 million and 24.9%, respectively, as operational excellence in both Australia and Canada drove margin improvements.
    • Combined gross profit for the quarter was $54.3 million and a margin of 14.6%. When adjusting for $10.1 million of integration costs incurred and $8.9 million of claims extinguished to secure long-term contracts, the resulting 19.7% reflects operational performance and compares favorably to 18.3% posted in the same period last year.
    • Cash flows generated from operating activities of $97.0 million were lower than the $168.6 million generated in the prior period as higher cash generation from the strong EBITDA was offset by the temporary impact of changes to working capital in the quarter.
    • Free cash flow generated in the quarter was $50.5 million as operational earnings were offset by routine capital maintenance and cash interest expenses with working capital and capital work in process balances generating positive cash in the quarter.
    • Net debt was $856.2 million at December 31, 2024, a decrease of $26.3 million from September 30, 2024, as free cash flow generation and the impact of a stronger CAD/AUD exchange rate were offset by growth spending, the NCIB program, and the dividend payment .
    • Additional highlights include: i) in November, we were awarded a $125 million heavy civil construction project primarily to construct diversion channels; ii) in December, we announced an extended and amended regional services contract, valued at $500 million, with a major producer in the oil sands region; iii) also in December, we were awarded a $100 million early works contract by a copper producer in the Australian state of New South Wales; iv) by the end of the year, we surpassed the 60% completion mark at the Fargo-Moorhead flood diversion project; and v) completed go-live activities for the ERP system in Australia during the quarter.

    Joe Lambert, President and CEO, stated, “Once again, I would like to thank our operations team for their safe and efficient performance this quarter. The recent contract awards in Australia and Canada speak for themselves but are a testament to the quality and reputation of our operating teams. We’re off to a fast and robust start this year, and we couldn’t be more excited about completing the work our customers have awarded us. We see opportunities and tailwinds in the heavy civil infrastructure and mining industries in Australia and North America and are diligently advancing efforts to win scopes based on the reputation we have in the respective regions.”

    Consolidated Financial Highlights
        Three months ended   Year ended
        December 31,   December 31,
    (dollars in thousands, except per share amounts)     2024       2023       2024       2023  
    Revenue   $ 305,590     $ 328,282     $ 1,165,787     $ 964,680  
    Cost of sales     218,834       220,672       789,056       678,528  
    Depreciation     44,765       41,990       166,683       131,319  
    Gross profit   $ 41,991     $ 65,620     $ 210,048     $ 154,833  
    Gross profit margin     13.7 %     20.0 %     18.0 %     16.1 %
    General and administrative expenses (excluding stock-based compensation)(i)     13,696       18,702       47,245       41,016  
    Stock-based compensation expense     5,625       (496 )     8,706       15,828  
    Operating income     22,544       45,944       153,330       96,330  
    Interest expense, net     14,401       14,007       59,340       36,948  
    Net income     4,808       17,646       44,085       63,141  
                     
    Adjusted EBITDA(i)     103,714       101,136       390,258       296,963  
    Adjusted EBITDA margin(i)(ii)     27.8 %     24.9 %     27.6 %     23.2 %
                     
    Per share information                
    Basic net income per share   $ 0.18     $ 0.66     $ 1.65     $ 2.38  
    Diluted net income per share   $ 0.19     $ 0.58     $ 1.52     $ 2.09  
    Adjusted EPS(i)   $ 1.00     $ 0.87     $ 3.73     $ 2.83  

    (i) See “Non-GAAP Financial Measures”.
    (ii)Adjusted EBITDA margin is calculated using adjusted EBITDA over total combined revenue.

        Three months ended   Year ended
        December 31,   December 31,
    (dollars in thousands)     2024       2023       2024       2023  
    Consolidated Statements of Cash Flows                
    Cash provided by operating activities   $ 96,989     $ 168,569     $ 217,607     $ 278,090  
    Cash used in investing activities     (75,764 )     (137,756 )     (274,683 )     (244,879 )
    Effect of exchange rate on changes in cash     1,400       (4,532 )     353       (5,994 )
    Add back of growth and non-cash items included in the above figures:                
    Acquisition of MacKellar(i)     —       51,671       —       51,671  
    Acquisition costs     —       5,934       —       7,095  
    Buyout of BNA Remanufacturing LP     4,210       —       4,210       —  
    Growth capital additions(ii)     23,646       35,941       84,633       40,416  
    Capital additions financed by leases(ii)     —       (931 )     (14,157 )     (28,159 )
    Free cash flow(ii)   $ 50,481     $ 118,896     $ 17,963     $ 98,240  

    (i)Acquisition of MacKellar is the purchase price less cash acquired.
    (ii)See “Non-GAAP Financial Measures”.

    Results for the Three Months Ended December 31, 2024

    Revenue from wholly-owned entities was $305.6 million, down from $328.3 million in the same period last year. The quarter-over-quarter reduction reflects a reduction in overall work scopes in the Heavy Equipment – Canada segment due to a reduction in equipment utilization to 54%, compared to 65% in 2023 Q4, largely offset by improved performance in the Heavy Equipment – Australia segment. Revenue generated in that segment of $160.3 million includes a strong contribution from MacKellar of $155.4 million, up from $122.5 million in Q4 of last year, as the group commences work on new contracts and increases equipment utilization at existing sites. Eliminations in the quarter largely relate to equipment maintenance performed by the Heavy Equipment – Canada segment on MacKellar equipment.

    Gross profit was $42.0 million, representing 13.7% of revenue, compared to $65.6 million and a 20.0% gross margin in the same period last year. The decline was primarily driven by lower contributions from the Heavy Equipment – Canada segment. Cost of sales for the quarter totaled $218.8 million, down from $220.7 million in the prior-period, reflecting lower overall revenue levels. Gross profit in the Heavy Equipment – Canada segment was impacted by the $8.9 million customer claim extinguishment as part of a four-year $500 million contract extension executed in December 2024. Gross profit in the Heavy Equipment – Australia segment was impacted by $10.1 million of integration costs, primarily transportation of haul trucks from North America to Australia.

    General and administrative expenses (excluding stock-based compensation expense) were $13.7 million, or 4.5% of revenue, for the three months ended December 31, 2024, down from $18.7 million, or 5.7% of revenue, in the same period last year. The current year decrease is due to the inclusion of non-recurring MacKellar acquisition costs totaling $5.9 million in the prior year, offset by spend related to increased activity levels in the Heavy Equipment – Australia segment.

    Cash related interest expense of $13.7 million represents an average cost of debt of 6.7% (compared to $13.2 million and 8.8%, respectively, for the three months ended December 31, 2023). The increase in interest expense is primarily attributed to a higher balance on the Credit Facility, along with greater equipment financing—mainly from the addition of MacKellar—partially offset by the elimination of our customer supply chain financing arrangement late in Q3.

    Net income of $4.8 million in Q4 2024, compared to $17.6 million in the same period last year, was lower due to the lower gross profit factors discussed above, partially offset by lower general and administrative expenses and improved results from the equity joint ventures.

    Free cash flow in the quarter was $50.5 million, driven primarily by adjusted EBITDA of $103.7 million less sustaining capital spending of $47.7 million and cash interest paid of $13.7 million.

    Liquidity

    Including equipment financing availability and factoring in the amended Credit Facility agreement, total available capital liquidity of $275.3 million includes total liquidity of $170.6 million, $86.7 million of unused finance lease borrowing availability, and $17.9 million of unused other borrowing availability as at December 31, 2024. Liquidity is primarily provided by the terms of our $522.6 million credit facility which allows for funds availability based on a trailing twelve-month EBITDA as defined in the agreement, and is now scheduled to expire in October 2027.

    Business Updates

    Strategic Focus Areas for 2025

    • Safety – maintain our uncompromising commitment to health and safety while elevating the standard of excellence in the field, particularly with regards to front-line leadership training;
    • Operational excellence – put into action practical and experienced-based protocols to ensure predictable high-quality project execution in Australia;
    • Execution – enhance equipment availability in Canada through improved fleet maintenance, equipment telematics and reliability programs, technical improvements and management systems;
    • Integration – utilize recently implemented ERP at MacKellar Group to optimize business processes to lower overall costs and improve working capital management;
    • Organic growth – based on strong site operating performance, leverage customer satisfaction to earn contract extensions and expansions;
    • Diversification – pursue diversification of customers and resources through strategic partnerships, industry expertise and investment in Indigenous joint ventures; and
    • Sustainability – further develop and deliver into our environmental, social and governance goals.

    Outlook for 2025

    The following table provides projected key measures for 2025 and actual results of 2024 and 2023. The measures for 2025 are predicated on contracts currently in place, including expected renewals and the heavy equipment fleet that we own and operate.

    Key measures   2023 Actual   2024 Actual   2025 Outlook
    Combined revenue(i)   $1.3B   $1.4B   $1.4 – $1.6B
    Adjusted EBITDA(i)   $297M   $390M   $415 – $445M
    Sustaining capital(i)   $169M   $166M   $180 – $200M
    Adjusted EPS(i)   $2.83   $3.73   $3.70 – $4.00
    Free cash flow(i)   $90M   $18M   $130 – $150M
                 
    Capital allocation            
    Growth spending(i)   $40M   $85M   $65 – $75M
    Net debt leverage(i)   1.7x   2.2x   Targeting 1.7x

    (i)See “Non-GAAP Financial Measures”.

    Conference Call and Webcast

    Management will hold a conference call and webcast to discuss our financial results for the three months and year ended December 31, 2024, tomorrow, Thursday, March 20, 2025, at 9:00 am Eastern Time (7:00 am Mountain Time).

    The call can be accessed by dialing:

    Toll free: 1-800-717-1738
    Conference ID: 71653

    A replay will be available through April 20, 2025, by dialing:

    Toll Free: 1-888-660-6264
    Conference ID: 71653
    Playback Passcode: 71653

    A slide deck for the webcast will be available for download the evening prior to the call and will be found on the company’s website at www.nacg.ca/presentations/

    The live presentation and webcast can be accessed at:

    https://onlinexperiences.com/scripts/Server.nxp?LASCmd=AI:4;F:QS!10100&ShowUUID=70DEA77D-C2B3-4C4B-80EF-A1303C5C95BF

    A replay will be available until April 20, 2025, using the link provided.

    Basis of Presentation

    We have prepared our consolidated financial statements in conformity with accounting principles generally accepted in the United States (“US GAAP”). Unless otherwise specified, all dollar amounts discussed are in Canadian dollars. Please see the Management’s Discussion and Analysis (“MD&A”) for the three months and year ended December 31, 2024, for further detail on the matters discussed in this release. In addition to the MD&A, please reference the dedicated 2024 Q4 Results Presentation for more information on our results and projections which can be found on our website under Investors – Presentations.

    Change in significant accounting policy – Basis of presentation

    During the first quarter of 2024, we changed our accounting policy for the elimination of its proportionate share of profit from downstream sales to affiliates and joint ventures to record through equity earnings in affiliates and joint ventures on the Consolidated Statements of Operations and Comprehensive Income. Prior to this change, we eliminated our proportionate share of profit on downstream sales to affiliates and joint ventures through revenue and cost of sales. The change in accounting policy simplifies the presentation for downstream profit eliminations and has no cumulative impact on retained earnings. We have accounted for the change retrospectively in accordance with the requirements of US GAAP Accounting Standards Codification (“ASC”) 250 by restating the comparative period. For details of retrospective changes, refer to note 25 in the consolidated financial statements.

    Accounting pronouncements recently adopted

    Segment reporting

    The Company adopted the new standard for segment reporting that is effective for the fiscal year beginning January 1, 2024. In November 2023, the FASB issued ASU 2023-07, Segment Reporting: Improvements to Reportable Segment Disclosures. This accounting standard update was issued to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The Company has updated its disclosures to reflect the additional requirements.

    Recent accounting pronouncements not yet adopted

    Joint venture formations

    In August 2023, the FASB issued ASU 2023-05, Business Combinations – Joint Venture Formations. This accounting standard update was issued to create new requirements for valuing contributions made to a joint venture upon formation. This standard is effective January 1, 2025, with early adoption permitted. We are assessing the impact the adoption of this standard may have on its consolidated financial statements.

    Income taxes

    In December 2023, the FASB issued ASU 2023-09, Income Taxes: Improvements to Income Tax Disclosures. This accounting standard update was issued to increase transparency by improving income tax disclosures primarily related to the rate reconciliation and income taxes paid information. This standard is effective for the fiscal year beginning January 1, 2025, with early adoption permitted. We are assessing the impact the adoption of this standard may have on its consolidated financial statements.

    Stock compensation

    In March 2024, the FASB issued ASU 2024-01, Compensation – Stock Compensation. This accounting standard update was issued to reduce complexity in determining if profit interest awards are subject to Topic 718 and to reduce diversity in practice. This standard is effective for annual statements for the fiscal year beginning January 1, 2025. The Company is assessing the impact the adoption of this standard may have on its consolidated financial statements.

    Debt with conversion options

    In November 2024, the FASB issued ASU 2024-04, Debt – Debt with Conversion and Other Options. This accounting standard update was issued to improve the relevance and consistency in application of the induced conversion guidance in Subtopic 470-20. This standard is effective for annual statements for the fiscal year beginning January 1, 2026. The Company is assessing the impact the adoption of this standard may have on its consolidated financial statements.

    Expense disaggregation

    In November 2024, the FASB issued ASU 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures. This accounting standard update was issued to require public entities to disclose additional information about specific expense categories in the notes to financial statements. This standard is effective for annual statements for the fiscal year beginning January 1, 2027. We are assessing the impact the adoption of this standard may have on its consolidated financial statements.

    Forward-Looking Information

    The information provided in this release contains forward-looking statements. Forward-looking statements include statements preceded by, followed by or that include the words “anticipate”, “believe”, “expect”, “should” or similar expressions and include guidance with respect to financial metrics provided in our outlook for 2025.

    The material factors or assumptions used to develop the above forward-looking statements include, and the risks and uncertainties to which such forward-looking statements are subject, are highlighted in the MD&A for the three months and year ended December 31, 2024. Actual results could differ materially from those contemplated by such forward-looking statements because of any number of factors and uncertainties, many of which are beyond NACG’s control. Undue reliance should not be placed upon forward-looking statements and NACG undertakes no obligation, other than those required by applicable law, to update or revise those statements. For more complete information about NACG, please read our disclosure documents filed with the SEC and the CSA. These free documents can be obtained by visiting EDGAR on the SEC website at www.sec.gov or on the CSA website at www.sedarplus.ca and on our company website at www.nacg.ca.

    Non-GAAP Financial Measures

    This press release presents certain non-GAAP financial measures, non-GAAP ratios, and supplementary financial measures that may be useful to investors in analyzing our business performance, leverage, and liquidity. A non-GAAP financial measure is defined by relevant regulatory authorities as a numerical measure of an issuer’s historical or future financial performance, financial position or cash flow that is not specified, defined or determined under the issuer’s GAAP and that is not presented in an issuer’s financial statements. A “non-GAAP ratio” is a ratio, fraction, percentage or similar expression that has a non-GAAP financial measure as one or more of its components. Non-GAAP financial measures and ratios do not have standardized meanings under GAAP and therefore may not be comparable to similar measures presented by other issuers. They should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. A “supplementary financial measure” is a financial measure disclosed, or intended to be disclosed, on a periodic basis to depict historical or future financial performance, financial position or cash flows that does not fall within the definition of a non-GAAP financial measure or non-GAAP ratio. The non-GAAP financial measures and ratios we present include, “adjusted EBIT”, “adjusted EBITDA”, “adjusted EBITDA margin” “adjusted EPS”, “adjusted net earnings”, “backlog”, “capital additions”, “capital expenditures, net”, “capital inventory”, “capital work in progress”, “cash liquidity”, “cash related interest expense”, “cash provided by operating activities prior to change in working capital”, “combined backlog”, “combined gross profit”, “combined gross profit margin”, “equity investment depreciation and amortization”, “equity investment EBIT”, “equity method investment backlog”, “free cash flow”, “general and administrative expenses (excluding stock-based compensation)”, “growth capital”, “growth spending”, “invested capital”, “margin”, “net debt”, “net debt leverage”, “share of affiliate and joint venture capital additions”, “sustaining capital”, “total capital liquidity”, “total combined revenue”, and “total debt”. We also use supplementary financial measures such as “gross profit margin” and “total net working capital (excluding cash and current portion of long-term debt)” in our MD&A. Each non-GAAP financial measure used in this press release is defined under “Financial Measures” in our Management’s Discussion and Analysis filed on EDGAR on the SEC website at www.sec.gov or on the CSA website at www.sedarplus.ca and on our company website at www.nacg.ca.

    Reconciliation of total reported revenue to total combined revenue
        Three months ended   Year ended
        December 31,   December 31,
    (dollars in thousands)     2024     2023(ii)     2024       2023(ii)  
    Revenue from wholly-owned entities per financial statements   $ 305,590     $ 328,282     $ 1,165,787     $ 964,680  
    Share of revenue from investments in affiliates and joint ventures     134,348       169,662       517,137       686,299  
    Elimination of joint venture subcontract revenue     (67,200 )     (92,522 )     (267,595 )     (369,891 )
    Total combined revenue(i)   $ 372,738     $ 405,422     $ 1,415,329     $ 1,281,088  

    (i) See “Non-GAAP Financial Measures”.
    (ii)The prior year amounts are adjusted to reflect a change in presentation. See “Accounting Estimates, Pronouncements and Measures”.

    Reconciliation of reported gross profit to combined gross profit
        Three months ended   Year ended
        December 31,   December 31,
    (dollars in thousands)     2024   2023(ii)     2024   2023(ii)
    Gross profit from wholly-owned entities per financial statements   $ 41,991   $ 65,620   $ 210,048   $ 154,833
    Share of gross profit from investments in affiliates and joint ventures     12,283     8,670     49,455     49,638
    Combined gross profit(i)   $ 54,274   $ 74,290   $ 259,503   $ 204,471

    (i) See “Non-GAAP Financial Measures”.
    (ii)The prior year amounts are adjusted to reflect a change in presentation. See “Accounting Estimates, Pronouncements and Measures”.

    Reconciliation of net income to adjusted net earnings, adjusted EBIT and adjusted EBITDA
        Three months ended   Year ended
        December 31,   December 31,
    (dollars in thousands)     2024       2023       2024       2023  
    Net income   $ 4,808     $ 17,646     $ 44,085     $ 63,141  
    Adjustments:                
    Stock-based compensation expense (benefit)     5,625       (496 )     8,706       15,828  
    Loss on disposal of property, plant and equipment     126       1,470       767       1,659  
    Write-down on assets held for sale     —       —       4,181       —  
    Change in fair value of contingent obligation from adjustments to estimates     9,464       —       36,049       —  
    (Gain) loss on derivative financial instruments     (4,797 )     916       (3,952 )     (6,063 )
    Equity investment (gain) loss on derivative financial instruments     (201 )     (713 )     2,633       (1,362 )
    Equity investment restructuring costs     —       —       4,517       —  
    Loss on equity investment customer bankruptcy claim settlement     —       —       —       759  
    Loss on extinguishment of customer claim     8,866       —       8,866       —  
    Post-acquisition asset relocation and integration costs     10,111       —       10,111       —  
    Acquisition costs     —       5,934       —       7,095  
    Tax effect of the above items     (7,197 )     (1,589 )     (16,169 )     (5,829 )
    Adjusted net earnings(i)   $ 26,805     $ 23,168     $ 99,794     $ 75,228  
    Adjustments:                
    Tax effect of the above items     7,197       1,589       16,169       5,829  
    Interest expense, net     14,401       14,007       59,340       36,948  
    Equity investment EBIT(i)(iii)     5,076       1,622       12,228       24,929  
    Equity earnings in affiliates and joint ventures(iii)     (5,754 )     (2,236 )     (15,299 )     (25,199 )
    Change in fair value of contingent obligations     4,797       4,681       17,157       4,681  
    Income tax expense     (375 )     10,930       15,950       22,822  
    Adjusted EBIT(i)   $ 52,147     $ 53,761     $ 205,339     $ 145,238  
    Adjustments:                
    Depreciation and amortization     45,093       42,277       167,937       132,516  
    Write-down on assets held for sale     —       —       (4,181 )     —  
    Equity investment depreciation and amortization(i)     6,474       5,098       21,163       19,209  
    Adjusted EBITDA(i)   $ 103,714     $ 101,136     $ 390,258     $ 296,963  
    Adjusted EBITDA margin(i)(ii)     27.8 %     24.9 %     27.6 %     23.2 %

    (i) See “Non-GAAP Financial Measures”.
    (ii)Adjusted EBITDA margin is calculated using adjusted EBITDA over total combined revenue.
    (iii)The prior year amounts are adjusted to reflect a change in presentation. See “Accounting Estimates, Pronouncements and Measures”.

    Reconciliation of equity earnings in affiliates and joint ventures to equity investment EBIT
        Three months ended   Year ended
        December 31,   December 31,
    (dollars in thousands)     2024     2023(ii)     2024       2023(ii)  
    Equity earnings in affiliates and joint ventures   $ 5,754     $ 2,236     $ 15,299     $ 25,199  
    Adjustments:                
    Gain on disposal of property, plant and equipment     (237 )     (22 )     (595 )     (57 )
    Interest expense (income), net     460       (268 )     (877 )     (1,183 )
    Income tax (recovery) expense     (901 )     (324 )     (1,599 )     970  
    Equity investment EBIT(i)   $ 5,076     $ 1,622     $ 12,228     $ 24,929  

    (i) See “Non-GAAP Financial Measures”
    (ii)The prior year amounts are adjusted to reflect a change in presentation. See “Accounting Estimates, Pronouncements and Measures”.

    About the Company

    North American Construction Group Ltd. is a premier provider of heavy civil construction and mining services in Australia, Canada, and the U.S. For over 70 years, NACG has provided services to the mining, resource and infrastructure construction markets.

    For further information contact:

    Jason Veenstra, CPA, CA
    Chief Financial Officer
    North American Construction Group Ltd.
    (780) 960.7171
    ir@nacg.ca
    www.nacg.ca

    Consolidated Balance SheetsAs at December 31
    (Expressed in thousands of Canadian Dollars)
          2024       2023  
    Assets        
    Current assets        
    Cash   $ 77,875     $ 88,614  
    Accounts receivable     166,070       97,855  
    Contract assets     4,135       35,027  
    Inventories     74,081       64,962  
    Prepaid expenses and deposits     7,676       7,402  
    Assets held for sale     683       1,340  
          330,520       295,200  
    Property, plant and equipment     1,246,584       1,142,946  
    Operating lease right-of-use assets     12,722       12,782  
    Investments in affiliates and joint ventures     84,692       81,435  
    Intangible assets     9,901       6,971  
    Other assets     9,845       7,144  
    Total assets   $ 1,694,264     $ 1,546,478  
    Liabilities and shareholders’ equity        
    Current liabilities        
    Accounts payable   $ 110,750     $ 146,190  
    Accrued liabilities     77,908       72,225  
    Contract liabilities     1,944       59  
    Current portion of long-term debt     84,194       81,306  
    Current portion of contingent obligations     39,290       22,501  
    Current portion of operating lease liabilities     1,771       1,742  
          315,857       324,023  
    Long-term debt     719,399       611,313  
    Contingent obligations     88,576       93,356  
    Operating lease liabilities     11,441       11,307  
    Other long-term obligations     44,711       41,001  
    Deferred tax liabilities     125,378       108,824  
          1,305,362       1,189,824  
    Shareholders’ equity        
    Common shares (authorized – unlimited number of voting common shares; issued and outstanding – December 31, 2024 – 27,704,450 (December 31, 2023 – 27,827,282))     228,961       229,455  
    Treasury shares (December 31, 2024 – 1,000,328 (December 31, 2023 – 1,090,187))     (15,913 )     (16,165 )
    Additional paid-in capital     20,819       20,739  
    Retained earnings     156,125       123,032  
    Accumulated other comprehensive loss     (1,090 )     (407 )
    Shareholders’ equity     388,902       356,654  
    Total liabilities and shareholders’ equity   $ 1,694,264     $ 1,546,478  
    Consolidated Statements of Operations and
    Comprehensive Income    For the years ended December 31
    (Expressed in thousands of Canadian Dollars, except per share amounts)
          2024       2023(i)  
    Revenue   $ 1,165,787     $ 964,680  
    Cost of sales     789,056       678,528  
    Depreciation     166,683       131,319  
    Gross profit     210,048       154,833  
    General and administrative expenses     55,951       56,844  
    Loss on disposal of property, plant and equipment     767       1,659  
    Operating income     153,330       96,330  
    Equity earnings in affiliates and joint ventures     (15,299 )     (25,199 )
    Interest expense, net     59,340       36,948  
    Change in fair value of contingent obligations     53,206       4,681  
    Gain on derivative financial instruments     (3,952 )     (6,063 )
    Income before income taxes     60,035       85,963  
    Current income tax (benefit) expense     (3,280 )     6,841  
    Deferred income tax expense     19,230       15,981  
    Net income     44,085       63,141  
    Other comprehensive income        
    Unrealized foreign currency translation loss     683       713  
    Comprehensive income   $ 43,402     $ 62,428  
             
    Per share information        
    Basic net income per share   $ 1.65     $ 2.38  
    Diluted net income per share   $ 1.52     $ 2.09  

    (i)The prior year amounts are adjusted to reflect a change in presentation. See “Accounting Estimates, Pronouncements and Measures”.

    The MIL Network –

  • MIL-OSI USA: Shaheen Tours Furniture Manufacturer in Lisbon to Discuss Energy Efficiency Upgrades, Visits Mount Cabot Maple in Lancaster During Maple Month

    US Senate News:

    Source: United States Senator for New Hampshire Jeanne Shaheen

    (Lancaster, NH) – U.S. Senator Jeanne Shaheen (D-NH), Ranking Member of the U.S. Senate Appropriations Subcommittee on Agriculture, Rural Development, Food and Drug Administration and Related Agencies, toured DCI Furniture in Lisbon to learn more about how the business is using federal funding to make energy efficiency upgrades. Later, Shaheen visited Mount Cabot Maple in Lancaster to celebrate Maple Month and hear about the challenges facing the Granite State’s maple industry. Photos from today’s events can be found here.

    In Lisbon, Shaheen visited DCI Furniture, a family-owned furniture manufacturing company, to learn more about how the business is using federal funding to install a new combined heat and power system that uses wood waste for fuel. The project will improve energy efficiency, decrease costs and reduce emissions at the facility.

    “Efficiency is the cheapest, fastest way to meet our energy needs, and DCI Furniture is a poster child for thinking about energy in a smart way,” said Senator Shaheen. “I was pleased to see firsthand how DCI is using federal funding that I’ve championed to make energy efficiency upgrades that will save money, reduce emissions and benefit the local forest-based economy—it’s just the kind of made-in-New Hampshire project we need to see more of.”

    The project has been awarded funding through programs Shaheen champions, including the U.S. Department of Agriculture’s (USDA) Rural Energy for America Program, the U.S. Forest Service’s Community Wood Grant program and Bipartisan Infrastructure Law funding from the U.S. Department of Energy. Shaheen was a lead negotiator of the Bipartisan Infrastructure Law, which made huge investments in energy efficiency, including $550 million for Industrial Research and Assessment Centers and assistance for small- and medium-sized manufacturers to implement efficiency upgrades based upon her longstanding bipartisan legislation with former U.S. Senator Rob Portman. Shaheen also helped introduce legislation to enhance the Forest Service’s Community Wood  Grant program that is providing funding for this project. 

    Later in Lancaster, Shaheen visited Mount Cabot Maple to hear more about how the farm has benefitted from federal funding from USDA Natural Resources Conservation Service and underscore the challenges facing the Granite State’s maple industry in the wake of the Trump Administration’s tariffs on Canada and Mexico and federal funding freeze.

    “Our maple syrup producers are an integral and delicious part of New Hampshire’s identity,” said Senator Shaheen. “It was great to visit Mount Cabot Maple today during Maple Month to tour the farm and learn more about how this North Country staple is weathering the impacts of Trump’s funding chaos and tariffs on Canada.”

    Shaheen co-leads the Market Access, Promotion and Landowner Education Support for Your Regionally Underserved Producers (MAPLE SYRUP) Act with Senator Chris Murphy (D-CT) to extend and expand the federal maple support program, which supports the U.S. maple syrup industry through research and education, natural resource sustainability and the marketing of maple syrup and maple-sap products.

    Shaheen has also been outspoken against the Trump Administration’s reckless tariffs on Canada and Mexico and chaotic funding freeze and cuts. Recently, Shaheen forced a vote in the Senate on her Protecting Americans from Tax Hikes on Imported Goods Act to limit the President’s ability to levy sweeping tariffs that increase costs for American consumers and families. Shaheen has also hosted a series of roundtables and discussions with Granite Staters to better understand and highlight the direct consequences of the Trump administration’s funding chaos and uncertainty. Following the Trump administration’s decision to freeze grants and loans disbursed by the federal government in January, Shaheen immediately condemned the move and spoke on the Senate floor against the decision to freeze federal grants and loans that families, seniors and small businesses rely on for critical, often life-saving services. 

    MIL OSI USA News –

  • MIL-OSI New Zealand: Universities – Canadian philanthropist announces $4m donation to endow NZ scholarships – UoA

    Source: University of Auckland (UoA)

    A $4 million donation from Canadian philanthropist John McCall MacBain has boosted a major scholarship programme for exceptional postgraduate students with the potential to be future leaders for New Zealand. It will ensure the programme can continue long-term, potentially forever.

    The endowed donation was announced at the launch of the 2025 Kupe Leadership Scholarship programme, held at the University of Auckland on 19 March.

    Established in 2018 with funding from the McCall MacBain Foundation, the programme aims to shape future leaders across many disciplines and fields. Students come from universities throughout New Zealand and are selected for their academic excellence and leadership potential.  The scholarships, for postgraduate study at the University of Auckland, provide $22,000 in financial support and a comprehensive mentoring programme, matching students with prominent leaders in their fields.

    So far, 111 students have participated in the programme, 35 funded by the McCall MacBain Foundation, with a further 76 funded by various donors who have each funded one or more scholars.

    Past scholars of the programme have gone on to roles across a wide cross section of careers and to further study. Three have since been awarded prestigious Rhodes Scholarships to Oxford University, with one awarded a Gates Fellowship to Cambridge University.

    “The vision for the programme was to create something truly exceptional, that would emulate the finest programmes on the world stage,” says John McCall MacBain. “It was to ignite a new generation of visionary leaders, driven to shape a better future for New Zealand and the world through bold action, community impact and transformative leadership. As the seventh cohort is being celebrated, I am so proud of how the programme has grown and excited to announce the next stage in our commitment to its growth.”

    With the announcement of the new gift, the McCall MacBain Foundation has committed more than $6.5 million to the Kupe Leadership Scholarship programme. The new funding will mean five of the scholarships awarded each year will be fully funded in perpetuity. This is in addition to the funding from the McCall MacBain Foundation and from donors in New Zealand for year-by-year use. Up to 20 scholarships are awarded each year, with the ultimate goal to have ten of them funded in perpetuity.
     
    “We are deeply grateful to the McCall MacBain Foundation for its ongoing and exceptional commitment,” says University of Auckland Vice-Chancellor Professor Dawn Freshwater.  “The Foundation was an important part of the inspiration and the impetus for the programme from the beginning. Its announcement of endowment funding is transformative, giving the programme a permanence and making it an asset for New Zealand forever.”

    MIL OSI New Zealand News –

  • MIL-OSI: Westport to Issue Q4 and Full Year 2024 Financial Results on March 31, 2025

    Source: GlobeNewswire (MIL-OSI)

    VANCOUVER, British Columbia, March 19, 2025 (GLOBE NEWSWIRE) — Westport Fuel Systems Inc. (TSX: WPRT / Nasdaq: WPRT) (“Westport” or “The Company”) announces that the Company will release 2024 financial results on Monday, March 31, 2025, before market open. A conference call and webcast to discuss the financial results and other corporate developments will be held on the same day: Monday, March 31, 2025.

    Time: 1:30 p.m. ET (10:30 a.m. PT)
    Call Link: https://register-conf.media-server.com/register/BId6a8762a91a74ab1b129f33836d3db21
    Webcast: https://investors.wfsinc.com

    Participants may register up to 60 minutes before the event by clicking on the call link and completing the online registration form. Upon registration, the user will receive dial-in info and a unique PIN, along with an email confirming the details.

    The webcast will be archived on Westport’s website and a replay will be available at https://investors.wfsinc.com.

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

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

    The MIL Network –

  • MIL-OSI: Stack Capital Group Inc. Announces Supplemental Listing of Warrants

    Source: GlobeNewswire (MIL-OSI)

    THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

    TORONTO, March 19, 2025 (GLOBE NEWSWIRE) — Stack Capital Group Inc. (“Stack Capital” or the “Company”) (TSX: STCK) is pleased to announce that the Toronto Stock Exchange (the “TSX”) has accepted for listing 757,948 common share purchase warrants of the Company (the “Warrants”). The Warrants were previously issued on a private placement basis, in two tranches, as part of the issuance of a total of 1,515,908 units of Stack Capital, each unit consisting of one common share and one-half of one Warrant, which closed on October 30, 2024, and November 22, 2024.

    The TSX has advised that the Warrants (CUSIP 85236X153; ISIN CA85236X1539) will be listed for trading on the TSX under the symbol “STCK.WT.A” effective at market open on Monday, March 24, 2025. Each Warrant is exercisable to acquire one common share of Stack Capital (a “Warrant Share”) at any time prior to 4:00 p.m. (Toronto, Ontario time) on October 30, 2027, at an exercise price of $11.00 per Warrant Share, subject to adjustment in certain events. The Warrants were issued pursuant to a warrant indenture dated October 30, 2024, between Stack Capital and Computershare Trust Company of Canada, as warrant agent (the “Warrant Indenture”). A copy of the Warrant Indenture can be found on Stack Capital’s profile on www.sedarplus.ca.

    No securities regulatory authority has either approved or disapproved of the contents of this news release. This news release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any of the securities of Stack Capital in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities laws and may not be offered, sold or delivered, directly or indirectly, within the United States, its possessions and other areas subject to its jurisdiction or for the account or for the benefit of U.S. Persons (as defined under applicable securities laws) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available.

    About Stack Capital

    Stack Capital is an investment holding company and its business objective is to invest in equity, debt and/or other securities of growth-to-late-stage private businesses. Through Stack Capital, shareholders have the opportunity to gain exposure to the diversified private investment portfolio; participate in the private market; and have liquidity due to the listing of the Common Shares on the TSX. At the same time, the public structure also allows Stack Capital to focus its efforts on maximizing long-term performance through a portfolio of high growth businesses, which are not widely available to most Canadian investors. SC Partners Ltd. has taken the initiative in creating Stack Capital and acts as Stack Capital’s administrator and is responsible to source and advise with respect to all investments for Stack Capital.

    For more information, please visit our website at www.stackcapitalgroup.com or contact:
    Brian Viveiros
    VP, Corporate Development, and Investor Relations
    647.280.3307
    brian@stackcapitalgroup.com

    The MIL Network –

  • MIL-OSI Canada: Budget Delivers Record Revenue Sharing and Lowers Property Tax Rates

    Source: Government of Canada regional news

    Released on March 19, 2025

    All Saskatchewan communities and their residents share in the economic success of Saskatchewan through Municipal Revenue Sharing (MRS), which will be a record $361.8 million this year. This is an increase of $21.6 million, or 6.3 per cent, from the 2024-25 Budget.

    “Municipal Revenue Sharing remains a reliable and predictable tool for Saskatchewan municipalities to make investments they need to build strong and vibrant communities,” Government Relations Minister Eric Schmalz said. “Municipal Revenue Sharing can be used by those local governments to invest in services and programs that everyone in Saskatchewan relies on while keeping property taxes as low as possible.”

    MRS provides predictable, unconditional funding to Saskatchewan cities, towns, villages and rural municipalities based on three-quarters of one point of provincial sales tax revenue from two years prior. 

    At $361.8 million, the 2025-26 MRS program is 184 per cent higher than the revenue shared in the inaugural 2007-08 Budget at $127.3 million. More than $4.6 billion in provincial funding has been allocated to support municipalities through this program since 2007-08.

    The Government of Saskatchewan is also reducing the Education Property Tax (EPT) mill rates for all property classes to offset the impact of property revaluation. Total revenue to government will remain unchanged from the 2024-25 Budget, aside from base growth due to new construction in Saskatchewan.

    Property Class

    2024 Mill Rates

    2025 Mill Rates

    Agricultural

    1.42

    1.07

    Residential

    4.54

    4.27

    Commercial/Industrial

    6.86

    6.37

    Resource

    9.88

    7.49

    The reduction in all EPT mill rates is estimated to save Saskatchewan property owners more than $100.0 million annually. 

    For more information on the EPT mill rates, visit: https://www.saskatchewan.ca/residents/taxes-and-investments/property-taxes/education-property-tax-system.

    In addition to a record setting MRS investment, the 2025-26 Budget includes $172.0 million in municipal investments including:

    • $76.5 million for the provincial portion of the Investing in Canada Infrastructure Program (Government Relations);
    • $29.0 million in policing grants (Corrections, Policing and Public Safety);
    • $18.4 million for the Rural Integrated Roads for Growth (Highways);
    • $11.6 million grant to provincial Libraries (Education); and
    • $8.6 million for the Urban Connector Program (Highways).

    Residents can see MRS investment by community on the Saskatchewan dashboard under People and Community. Use the left-right toggle in the dashboard to see the historical investment for the province or by community. 

    -30-

    For more information, contact:

    MIL OSI Canada News –

  • MIL-OSI Canada: Budget Delivers More Access to Mental Health and Addictions Services

    Source: Government of Canada regional news

    Released on March 19, 2025

    A record investment of $623.8 million in the 2025-26 Budget supports mental health and addictions services with a $52.8 million, or 9.2 per cent, increase from 2024-25. This budget delivers on critical supports and investments, making services more accessible to individuals, improving coordination of care, getting people the treatment they need in a timely manner and transitioning to a recovery-oriented system of care.

    Of the overall Health budget, 7.7 per cent is directed to fund mental health and addictions initiatives with $486.7 million dedicated to mental health and $137.1 million for addictions. A new targeted funding increase of $20.1 million will expand access to mental health and addictions services and care for Saskatchewan people.

    An investment of $15.8 million will deliver on the Government of Saskatchewan’s commitment to add 500 addictions treatment spaces across Saskatchewan – double the amount now available in the province. Currently, 221 addictions treatment spaces are operational, with plans to have up to 400 of the 500 dedicated spaces ready by the end of 2025-26. 

    “We will build on the success of our Mental Health and Addictions Action Plan by supporting hundreds of newly established physical and virtual addictions treatment and recovery spaces in seven communities stretching from Estevan to Pinehouse,” Mental Health and Addictions Minister Lori Carr said. “This year, we will unveil expansion plans to ensure Saskatchewan residents can access these services when and where they need them to overcome addiction and live healthy lives.”

    A further $4.3 million in new, targeted funding will: 

    • Increase access to addictions medicine across the province by implementing a new Virtual Access to Addictions Medicine (VAAM) Program and adding supports for the existing Opioid Agonist Therapy Program in the province;
    • Support the development of a central intake and navigation system that patients can contact directly to self-refer for treatment; 
    • Fully fund the HOMEBASE Integrated Youth Services Site and open the final site at Sturgeon Lake First Nation;
    • Fund two additional five-bed homes for youth with chronic mental health and addictions issues;
    • Facilitate the transition to a recovery-oriented system of care model, which provides an improved focus on treatment and recovery; and
    • Increase funding for the Bridgepoint Centre for Eating Disorder Recovery.

    The 2025-26 Budget will provide $6.0 million in new capital funding for expansion of Complex Needs Emergency Shelters (CNES) in new communities. There are currently two 15-bed CNES pilot projects in Regina and Saskatoon that provide individuals in crisis with a safe place to stabilize while being monitored for the negative effects of drugs or alcohol.

    “These shelters have proven to be effective in protecting and supporting individuals who are intoxicated and presenting as a danger to themselves or others,” Carr said. “These facilities keep the individual in crisis safe and help transition them to support services and programs. We are exploring other potential locations that are best served by these facilities, as several Saskatchewan communities are interested in creating a Complex Needs Emergency Shelter to help individuals struggling with addictions and in need of these interventions.”

    The remaining $27.0 million is for increased utilization of hospital-based services, physician visits and prescription drug costs.

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    For more information, contact:

    MIL OSI Canada News –

  • MIL-OSI Canada: 2025-26 Budget: Delivering For You

    Source: Government of Canada regional news

    Released on March 19, 2025

    Saskatchewan’s 2025-26 Provincial Budget is delivering for the people of Saskatchewan.

    Deputy Premier and Finance Minister Jim Reiter tabled a budget today that delivers on the priorities of Saskatchewan people – affordability, health care, education, safer communities and responsible financial management – while addressing the challenges of a growing province.

    “We understand this budget is being delivered at a very volatile time, due to the constantly changing tariff threats from the United States,” Reiter said. “Right now, we do not know what tariffs the U.S. may impose or how long they may last. As a result, it was not possible to build the exact impact of tariffs into the budget.

    “However, we are not letting the tariff threat prevent us from following through on our commitments to the people of Saskatchewan. Our strong financial position means we are well-positioned to weather the impact of any tariffs that may be imposed on Canada and Saskatchewan.”

    As a signal of strong financial management, the Government of Saskatchewan is delivering a balanced budget in 2025-26, with a surplus of $12 million.

    Affordability

    In the 2025-26 Budget, the Government of Saskatchewan continues to take action to ensure the province remains the most affordable place in Canada to live, work, raise a family and start a business.

    The budget reduces income taxes for every resident, family and small business in the province. It also helps make life more affordable for seniors, families with children, persons with disabilities, caregivers, new graduates, first-time homebuyers and people renovating their homes.

    The taxation changes introduced in the 2025-26 Budget, including the initiatives in The Saskatchewan Affordability Act, provide over $250 million in tax savings this year. This is in addition to the more than $2 billion in affordability measures in each and every budget.

    The affordability measures in the 2025-26 Budget include those that help make life more affordable and those that support our growing province. Among the measures are:

    • Raising the basic personal exemption, spousal and equivalent-to-spousal exemption, dependent child exemption and the seniors supplement by $500 a year, for the next four years – over and above the impact of indexation – for the largest personal income tax reduction in the province since 2008;
    • Increasing monthly income assistance benefits by two per cent for Saskatchewan Income Support (SIS) and Saskatchewan Assured income for Disability (SAID) clients;
    • Increasing the Disability Tax Credit and Caregiver Tax Credit by 25 per cent;
    • Doubling the Active Families Benefit refundable tax credit from $150 to $300 per child and doubling the income threshold to qualify to $120,000 to make children’s sports, arts, cultural and recreational activities more affordable for more Saskatchewan families;
    • Reinstating the Home Renovation Tax Credit, which will allow homeowners to save up to $420 annually in home renovation expenses, while seniors undertaking home renovations can save up to $525; 
    • Increasing the Graduate Retention Program benefit by 20 per cent to a maximum of $24,000; and
    • Permanently maintaining the small business tax rate at one per cent, benefiting more than 35,000 small businesses in Saskatchewan and saving them over $50 million in corporate income taxes annually.

    Property owners will also receive relief in this year’s budget. All education property tax mill rates will be reduced to absorb the increase in property assessment values and ensure this assessment year is revenue neutral for the province in each property class. This change will save property owners in the province more than $100 million annually.

    This is in addition to the Government of Saskatchewan extending the carbon tax exemption on home heating, which is expected to save the average Saskatchewan family approximately $480 in 2025.

    Health Care

    The 2025-26 Budget delivers better patient access and safer, more responsive care for Saskatchewan residents.

    Over the last two years, the Government of Saskatchewan has invested $15.7 billion in health care in the province. In the 2025-26 Budget:

    • The Ministry of Health receives a record $8.1 billion, an increase of $485 million, or 6.4 per cent;
    • The Saskatchewan Health Authority receives an increase of $261 million, or 5.6 per cent, for a record $4.9 billion budget; and
    • The Saskatchewan Cancer Agency receives $279 million, an increase of $30 million, or 12.2 per cent.

    This funding will provide better access to acute care programs and services to improve patient outcomes, such as:

    • Reducing surgical wait times as part of an ambitious plan to perform 450,000 procedures over four years; and
    • Realigning services at Saskatoon City Hospital to address inpatient capacity pressures by opening more than 100 beds.

    Mental health and addictions programs and services receive $624 million – 7.7 per cent of the overall Health budget – to deliver critical support and investments in Saskatchewan, including an increase of $20 million for targeted initiatives. This includes continued progress on the multi-year Mental Health and Addictions Action Plan, and expanded access to mental health and addictions services and care by delivering on the commitment to add 500 addictions treatment spaces across the province, doubling the public health system’s capacity.

    To ensure the professionals are in place to provide health care services, this year’s budget accelerates the hiring of health care professionals through the Health Human Resources Action Plan.

    The 25-26 Budget also invests in steady and significant progress on multiple infrastructure projects.

    Due to the positive response to the Regina Urgent Care Centre, planning is underway for additional urgent care centres in Moose Jaw, Prince Albert and North Battleford, as well as second urgent care centres in Regina and Saskatoon. 

    The budget also provides new capital funding for the expansion of Complex Needs Emergency Shelters in new communities, building on the pilot projects in Regina and Saskatoon. 

    Overall, health capital funding will increase by $140 million, for a total of $657 million – the highest ever capital budget to deliver major health infrastructure projects.

    Education

    Kindergarten to Grade 12

    The 2025-26 Budget delivers increased opportunities and supports for kindergarten to Grade 12 students, parents and teachers across Saskatchewan. 

    Over the last two years, more than $5 billion has been invested in kindergarten to Grade 12 education. In this year’s budget, the Ministry of Education receives $3.5 billion, an increase of $184 million, or 5.5 per cent, over the previous year. That includes an increase of $186 million, or 8.4 per cent, in school operating funding for a total of $2.4 billion.

    The 2025-26 Budget also includes an increase of $130 million to fund the new teacher collective agreement and address growing student enrollment and the challenges facing today’s classrooms. 

    Building on the success of last year’s pilot project in eight Saskatchewan schools, the budget provides funding for 50 additional specialized support classrooms throughout the province. The specialized classrooms help reduce interruptions by providing additional supports to students who need them. 

    Student literacy is another area of emphasis in the 2025-26 Budget. Learning to read is one of the most valuable skills developed during childhood and sets the foundation for lifelong academic success. For this reason, this year’s budget provides additional funding to improve kindergarten to Grade 3 reading levels in Saskatchewan.

    The budget delivers on the challenges of student enrolment growth by investing in new schools with a $191 million school capital budget. This includes ongoing funding for the 21 new or consolidated schools and three major renovations underway across Saskatchewan, as well as funding to begin planning for one new replacement school and preplanning for four new schools in the Saskatoon area.

    Post-Secondary

    The 2025-26 Budget also supports students as they advance into post-secondary education. It provides opportunities that will allow students to pursue post-secondary education close to home while focusing on programs that meet the needs of Saskatchewan’s labour force and provincial economy.

    The Ministry of Advanced Education receives $788 million in this year’s budget, with $1.6 billion invested in post-secondary education over the past two years. As part of their budget, universities, technical schools, Indigenous institutions and regional colleges will receive $718 million in operating and capital funding.

    Health care training is a key priority as part of the province’s Health Human Resources Action Plan. New and expanded programs will help build a stronger health care workforce to meet the needs of Saskatchewan residents, including training seats in areas of critical need. This includes supporting:

    • 60 new training seats this year – more than 900 training seats overall – for nurse practitioners, registered psychiatric nurses and medical radiologic technologists; and
    • Four new training programs that will be ready to accept students in fall 2025 (physician assistant) and fall 2026 (speech-language pathology, occupational therapy, respiratory therapy).

    The 2025-26 Budget also delivers work on strategies to address veterinary services in rural and urban communities. This includes working toward an expansion of the Western College of Veterinary Medicine in the future.

    To help ensure predictable and stable funding for the province’s post-secondary institutions, the 2025-26 Budget extends the current multi-year funding agreement for an additional year. The extension will allow government and post-secondary institutions time to work through the potential impacts of the federal government’s reduction of foreign student visas, before engaging in another multi-year funding agreement.

    Community Safety

    The 2025-26 Budget delivers safer communities across the province by enhancing the presence of law enforcement in Saskatchewan. 

    Over the last two years, $2 billion has been invested into community safety. For the upcoming fiscal year, the Ministry of Corrections, Policing and Public Safety will receive $798 million, including $119 million for the Saskatchewan Public Safety Agency, while the Ministry of Justice and Attorney General will receive $271 million.

    Increases to the Municipal Police Grant Program will help frontline officers respond to more calls for service, while increased funding for the RCMP will support operations in the province and the RCMP First Nations Policing Program. The budget also includes funding for previous commitments for approximately 100 new municipal police officers, 14 new Safer Communities and Neighbourhoods personnel and funding for the Saskatchewan Police College to train more officers in the province.

    This enhanced law enforcement presence extends to the border with the United States. The Saskatchewan Border Security Plan was introduced in January 2025 to mobilize Provincial Protective Services officers to work in partnership with provincial policing services and federal agencies to boost law enforcement near the border.

    To complement the increased presence of law enforcement personnel, the 2025-26 Budget includes funding to improve safety for correctional staff, offenders and the public, as well as address capacity concerns at correctional facilities. 

    Additional investments will be made in interpersonal violence programs and services, including second-stage housing. The budget also delivers funding to create a more accessible court system for municipal bylaw offences and ensuring cases are complete and ready to move to trial more quickly. 

    Delivering More For You

    The 2025-26 Budget delivers on the priorities of affordability, health care, education, community safety and fiscal responsibility. However, it delivers more than that. Some of the other important initiatives in this year’s budget include:

    • A record $362 million in municipal revenue sharing, an increase of $22 million, or 6.3 per cent, from 2024-25.
    • New funding to start multi-year repair and renovation projects for 285 Saskatchewan Housing Corporation-owned units in Saskatoon, Regina and Prince Albert.
    • Funding for expanded homelessness services developed through the Provincial Approach to Homelessness. This includes investments in the Rental Development Program to partner with third-party organizations to develop new supportive housing units for people who need additional support to live independently.
    • Over the past two years, funding from the Ministry of Social Services has created 120 new emergency shelter spaces, 155 new supportive housing spaces, new street outreach services and an expanded income assistance mobile workforce serving clients on-site at more than 30 community-based organization locations.
    • A grant to the Food Banks of Saskatchewan to fulfill the Government of Saskatchewan’s two-year commitment to help families and food banks with high food costs.
    • A $20 million increase across government in funding for community-based organizations.
    • The creation of a new Saskatchewan Young Entrepreneur Bursary, which is an annual grant of $285,000 for a maximum of 57 bursaries distributed to support youth entrepreneurship in the province.
    • The creation of a new Small and Medium Enterprise Investment Tax Credit, a 45 per cent non-refundable tax credit for individuals or corporations that invest in the equity of an eligible Saskatchewan small and medium size enterprise.
    • Introduction of the Low Productivity and Reactivation Oil Well Program to encourage industry to make new capital investments in low-producing and inactive horizontal oil wells.
    • Investment in capital projects that will improve our provincial transportation system, including:
      • Passing lanes for Highway 10 between Fort Qu’Appelle and Melville, and Highway 17 north of Lloydminster;
      • Highway 39 twinning at Weyburn; 
      • Ongoing corridor improvements on Highway 5 east of Saskatoon; and 
      • Improvements of more than 1,000 kilometres of provincial highways.

    Fiscal Responsibility

    The surplus forecast for the 2025-26 Budget leaves Saskatchewan in one of the strongest financial positions among provinces.

    The surplus is driven by forecast revenues of $21.1 billion, an increase of $1.2 billion, or 6 per cent, compared to last year. Total expense is projected to be $21.0 billion, which is an increase of $909 million, or 4.5 per cent, from the 2024-25 Budget.

    Non-Renewable Resources revenue accounts for 12.8 per cent of total expense in this year’s budget. 

    Another sign of Saskatchewan’s strong financial position is the province’s net debt position, which remains the second lowest net debt-to-GDP ratio among Canadian provinces at 14.6 per cent. 

    The Government of Saskatchewan’s prudent financial management is also reflected in the province’s credit ratings. Saskatchewan currently maintains the second-best credit rating among the provinces when the ratings from the three major agencies – Moody’s Investors Service, Morningstar DBRS and S&P Global – are considered.

    Saskatchewan’s strong financial position in this year’s budget is buoyed by the provincial economy’s solid performance in 2024. Building upon this momentum, the Saskatchewan economy is expected to continue to grow in 2025 with real GDP projected to grow by 1.8 per cent according to the average private-sector forecast. 

    For more information on the 2025-26 Provincial Budget, please review the budget materials and ministry news releases on saskatchewan.ca/budget. 

    -30-

    For more information, contact:

    MIL OSI Canada News –

  • MIL-OSI Canada: Innovation Saskatchewan Delivering Research Infrastructure to Strengthen Global Leadership

    Source: Government of Canada regional news

    Released on March 19, 2025

    Innovation Saskatchewan, the provincial government’s innovation agency, is investing in research infrastructure to support Saskatchewan’s world-class research community.

    The 2025-26 Budget includes a $3.0 million commitment to the Canadian Light Source (CLS) and an additional $4.1 million commitment to the Vaccine and Infectious Disease Organization (VIDO) for enhancements to equipment and infrastructure.

    These targeted investments will strengthen existing facilities foundational to the province’s research landscape, making it easier for innovators to develop ideas in Saskatchewan, attract and retain top talent and share high-demand solutions with the world.

    “Saskatchewan is a global leader in cutting-edge research and technological innovation,” Minister Responsible for Innovation Saskatchewan Warren Kaeding said. “By investing in the province’s world-class research community, we are accelerating made-in-Saskatchewan solutions to global challenges, creating jobs and driving economic growth to achieve our 2030 Growth Plan goals.”

    A cornerstone of Saskatchewan’s research leadership is its network of world-class research centres, including CLS, a major international research facility home to Canada’s only synchrotron and one of the most advanced in the world, and VIDO, a global leader in infectious disease and vaccine research for over half a century.

    The additional $3.0 million for CLS matches federal funding to add new state-of-the-art equipment essential to continuing reliable and sustainable operations. The funding ensures CLS will remain at the forefront of research innovation and enhance its ability to advance scientific discovery.

    The additional $4.1 million commitment for VIDO builds on Innovation Saskatchewan’s $15.0 million commitment in 2021 to expand capabilities for the organization to become Canada’s Centre for Pandemic Research. This includes upgrading facilities to containment Level 4 standards – the highest level possible. Once completed, VIDO will be Canada’s only non-governmental facility capable of handling the world’s most dangerous pathogens, elevating Saskatchewan’s role in global health security.

    “For decades, Saskatchewan has strategically built a dynamic research ecosystem and CLS and VIDO are central to that vision,” Innovation Saskatchewan CEO Kari Harvey said. “Strengthening our commitments will broaden our impact, securing our province’s future and cementing our reputation as a global research leader.”

    In addition to the 2025-26 research investment, Innovation Saskatchewan continues planning for the redevelopment of the Galleria, the flagship building at its Innovation Place research and technology park in Saskatoon. The west wing is being transformed into a multi-tenant space for scaling companies – particularly those in agtech and other key sector industries – with integrated laboratories, pilot plant space and other specialized infrastructure to support Saskatchewan’s growing technology sector.    

    -30-

    For more information, contact:

    MIL OSI Canada News –

  • MIL-OSI Canada: 2025-26 Health Budget Delivers Record Funding for Better Patient Access, More Responsive Care

    Source: Government of Canada regional news

    Released on March 19, 2025

    The 2025-26 Budget delivers on key health care commitments including better access to acute and emergency care, team-based primary care and continuing care services. This year’s budget also supports progress on the Mental Health and Addictions Action Plan, accelerates health care workforce hiring and continues building on future infrastructure projects, including new hospitals, long-term care homes and additional urgent care centres. 

    The record Ministry of Health budget is $8.07 billion, an increase of $484.6 million, or 6.4 per cent, over the previous year. The Saskatchewan Health Authority will receive a $261.1 million increase, or 5.6 per cent, for a total record budget of $4.94 billion. 

    “This year’s budget delivers on key commitments to deliver more timely access to our health care system,” Health Minister Jeremy Cockrill said. “Our government will provide significant budget investments to increase access to acute care in Saskatoon, perform more surgeries, increase access to specialized diagnostic imaging and invest in programs that connect all Saskatchewan residents to a primary health care provider.

    “This budget also expands glucose monitoring coverage to vastly improve quality of life and ease financial impacts for nearly 10,000 Saskatchewan people with diabetes. We will open the highly anticipated Breast Health Centre in Regina to provide a full range of services and wraparound support for women experiencing a challenging diagnosis.”

    The 2025-26 Budget provides better access to acute health care services for safer, more responsive patient care with total investment increases of $88.1 million. 

    Plans to ramp up surgical volumes this year through a $15.1 million investment increase will kickstart ambitious plans to perform 450,000 procedures over four years and reduce surgical wait times. This investment will introduce the innovative robot-assisted surgery program at Pasqua Hospital in Regina and enhance other services to meet this aggressive four-year surgical target.

    Optimizing space and realigning services at Saskatoon City Hospital will help address capacity pressures in Saskatoon with a multi-phased approach to open more than 100 acute care beds. This $30.0 million investment will support physical space upgrades to expand acute care and convert outpatient and other spaces to inpatient units.

    Emergency Medical Services (EMS) will receive a $6.6 million increase for additional paramedics in the system and Diagnostic Imaging will receive a $6.0 million boost to increase specialized medical imaging volumes to continue gains made in patient wait times.

    Other 2025-26 acute care investment increases include: 

    • $7.6 million for enhanced and expanded pediatric care, including specialist recruitment in areas of endocrinology, rheumatology and other specialties. The budget will also support additional multidisciplinary staff and physicians in pediatric gastroenterology, allergy and immunology, and cardiology programs, as well as enhancements to physician staffing at the Neonatal Intensive Care Unit in Prince Albert;
    • $6.6 million for HealthLine 811’s Virtual ER Physician Program to expand support to a minimum of 25 small-to-medium rural Emergency Department locations;
    • $4.3 million to bolster the province’s kidney health programs to better meet patient demand for hemodialysis services closer to home;
    • $2.0 million for enhanced laboratory medicine services; 
    • $1.9 million to complete and fully staff the new Breast Health Centre in Regina; and
    • $1.9 million to support operational costs for the Regina Urgent Care Centre. 

    “Rural and northern Saskatchewan receive important focus in this budget with extensive kidney health enhancements and staffing for satellite hemodialysis services in rural locations, including Meadow Lake, North Battleford, Tisdale and Fort Qu’Appelle,” Rural and Remote Minister Lori Carr said. “A virtual ER physician program demonstrating great success will expand to more rural communities at risk of service disruptions this year, and increases to EMS will improve response times and stabilize services across the province.” 

    The 2025-26 Budget will deliver better and more prompt patient access to team-based primary care settings and preventative care initiatives to meet the health care needs of Saskatchewan people with a $42.4 million increased investment. 

    A $5.0 million increase will support primary care improvements, including the expansion of a new model of care called Patient Medical Homes to new communities following a successful pilot in Swift Current that demonstrated better access to primary care for patients. 

    In addition, a $7.1 million increase is provided for immunizations and program enhancements. Beginning April 1, 2025, nearly 10,000 Saskatchewan patients managing diabetes will benefit from a $23.0 million investment for a Glucose Monitoring Expansion Program for young adults aged 25-and-under and seniors aged 65-plus. 

    The 2025-26 Budget also includes new funding to support the transition to HPV self-screening for cervical cancer, make progress on a provincial lung cancer screening program, lower breast cancer screening eligibility to age 43 and support operations to add a second mobile mammography bus that will increase capacity for women in rural and northern Saskatchewan. 

    The 2025-26 Budget will further provincial commitments to accelerate the hiring and growth of the health care professional workforce in the third year of the ambitious, multi-year Health Human Resources Action Plan to recruit, train, incentivize and retain employees.

    The College of Medicine will add 10 more in-province physician training seats for family medicine, anesthesia, plastic surgery and other specialties, for a total of 150 provincial seats, as part of a $7.4 million increase. 

    Supports for 65 new and enhanced permanent full-time nursing positions in 30 rural and northern locations across Saskatchewan for improved nursing stability and reduced reliance on contract nurses will receive a $4.9 million increase.

    In addition, this year’s budget includes an additional $94.6 million increase for physician services to support the province’s efforts to recruit and retain doctors, including funding for negotiated Saskatchewan Medical Association fee increases, increased utilization of services and additional physicians. 

    This year’s budget will continue building momentum on strategic investments and successful programming within the multi-year Mental Health and Addictions Action Plan to improve patient access to professionals and services, delivering the help and support needed to overcome mental health and addictions challenges. This budget provides new capital funding to expand Complex Needs Emergency Shelters into new communities.

    Saskatchewan residents will see steady and significant progress throughout the province on multiple infrastructure projects, such as new hospital builds and long-term care facilities, with a total record capital investment of $656.9 million, a $140.1 million increase over last year.

    Major infrastructure investments include:

    • $322.4 million for Prince Albert Victoria Hospital construction;
    • $40.0 million for Regina Long-Term Care Specialized Beds construction;
    • $33.8 million for construction of the La Ronge Long-Term Care facility;
    • $24.4 million for Weyburn General Hospital construction; 
    • $10.0 million for Grenfell Long-Term Care project construction; and
    • $3.0 million to advance the Saskatoon Urgent Care Centre (UCC), in partnership with Ahtahkakoop Cree Developments.

    Due to the success of Regina’s UCC model in reducing emergency room pressures and providing access to thousands of patients, planning is underway for additional UCCs in Moose Jaw, Prince Albert and North Battleford, as well as second UCCs in Regina and Saskatoon. 

    Additional funding will continue to support ongoing projects, including the Yorkton Regional Health Centre, Rosthern Hospital, Royal University Hospital’s ICU Expansion, Saskatchewan Cancer Agency’s (SCA) Saskatoon Patient Lodge, Esterhazy Integrated Care Facility and long-term care projects in several communities including Regina, the Battlefords, Watson and Estevan.

    Other capital investments include leading-edge and upgraded technology, equipment and innovations to shape the future of health care.

    The 2025-26 Budget will ensure Saskatchewan people receive strengthened continuing care support to remain at home and within their communities for as long as possible. A $7.1 million increase will fund care for all ages – from children with complex medical needs to seniors – to support individuals of all ages and patients in the most appropriate community setting.

    The SCA will continue to deliver access to world-class care with additional funding toward oncology drugs, therapies and treatment options. The SCA will see an increase of $30.4 million, or 12.2 per cent, for a total record budget of $279.3 million. 

    The 2025-26 Budget also delivers on the Government of Saskatchewan’s commitment to provide a Fertility Treatment Tax Credit to improve affordability for individuals and couples to access fertility treatments.

    -30-

    For more information, contact:

    MIL OSI Canada News –

  • MIL-OSI Submissions: Hong Kong: Article 23 law used to ‘normalize’ repression one year since enactment – Amnesty International

    Source: Amnesty International

    Just one year after its passage, Hong Kong’s Article 23 law has further squeezed people’s freedoms and enabled authorities to intensify their crackdown on peaceful activism in the city and beyond, Amnesty International said.

    “Over the past year, Article 23 has been used to entrench a ‘new normal’ of systematic repression of dissent, criminalizing peaceful acts in increasingly absurd ways,” said Amnesty International’s China Director Sarah Brooks.

    “People have been targeted and harshly punished for the clothes they wear as well as the things they say and write, or for minor acts of protest, intensifying the climate of fear that already pervaded Hong Kong. Freedom of expression has never been under greater attack.”

    People convicted and jailed for peaceful expression

    The Safeguarding National Security Ordinance (known as Article 23) took effect on 23 March 2024. Amnesty International’s analysis shows that 16 people have since been arrested for sedition under Article 23. Five of them were officially charged under the law, and the other 11 were released without charge. None of those arrested is accused of engaging in violence, while the authorities have accused two of them of inciting violence without yet disclosing any details.

    Three of the charged individuals – after facing around three months’ pre-trial detention – were convicted for, respectively, wearing a T-shirt and mask printed with protest slogans; criticizing the government online; and writing protest slogans on bus seats. They were sentenced to between 10 and 14 months in prison.

    The remaining two charged people have been held in detention awaiting trial since November 2024 and January 2025, respectively. They are accused of publishing “seditious” posts on social media platforms.

    Article 23 entrenches denial of bail

    The presumption against bail in national security cases, originally imposed by the Beijing-enacted National Security Law (NSL), has now been extended to offences under Article 23. Among the five individuals charged under Article 23, the two who applied for bail had their applications denied because the magistrate believed they may “continue to commit acts endangering national security” – the same reasoning used to deny bail to others prosecuted under the NSL, including newspaper founder Jimmy Lai and opposition politicians.

    The remaining 11 individuals arrested under Article 23 are variously accused of publishing “seditious” posts, commemorating the 1989 Tiananmen crackdown and spreading “disinformation”. Despite having been released by the police without official charge, they remain at risk of prosecution at any time because Article 23 does not impose a time limit on bringing criminal charges.

    “Article 23 has been wielded by the Hong Kong government as a tool to suppress critical voices with the ultimate aim of eradicating them. Alongside the NSL, it has handed the authorities virtually unchecked power to arrest and jail anybody criticizing the government. The result is a Hong Kong where people are forced to second-guess what they say and write, and even what they wear,” Sarah Brooks said.

    “The now default use of pre-trial detention and refusal of bail are alarming examples of how Article 23 has been used to reinforce the repressive tools first introduced under the NSL.”

    ‘National security’ as a trump card overriding established laws

    Article 23 has also been weaponized to impose additional punitive measures against dissidents already serving sentences. Under the existing Prison Rules, last amended in 2014, prisoners with good conduct were eligible for early release after serving two-thirds of their sentences. However, according to new rules set by Article 23, the prison authorities can waive this practice if the release would be “contrary to the interests of national security”.

    Notably, at least two jailed activists have been denied early release, despite the fact that they were not convicted under Article 23 and had already begun serving their sentences before its enactment.

    One of the activists – who was convicted of incitement to wound, a charge unrelated to any national security legislation – was barred from early release despite Article 23 expressly stating that the new rules apply only to prisoners convicted of offences endangering national security.

    “Retroactively denying early release based on vague national security justifications undermines legal certainty and due process. The government’s failure to comply with the very text that it drafted further raises serious concerns about the arbitrary application of Article 23,” Sarah Brooks said.

    Extraterritorial application against overseas activists

    The worrying impact of Article 23 on human rights is not restricted to Hong Kong. Authorities have invoked Article 23’s extraterritorial scope to penalize a total of 13 Hong Kong activists residing overseas, including in the UK, the US, Canada and Australia. These penalties have included the cancellation of passports, suspension of lawyer licenses, removal from company directorships and prohibition of financial transactions, restricting a range of human rights such as their freedom of movement, right to privacy and right to work.

    These measures have been imposed alongside arrest warrants issued under the NSL, each carrying a HK$1 million (US$128,700) bounty, for these 13 individuals and six other overseas activists.

    “By sanctioning activists overseas, the Hong Kong government is attempting to extend its draconian laws beyond its borders to target potentially anyone, anywhere. The situation has resulted in a chilling effect on individuals who persist in exercising their freedom of expression, even after departing from the city. The international community cannot afford to ignore Article 23’s intended extraterritorial reach,” Sarah Brooks said.

    “We urge the Hong Kong and Chinese governments to immediately repeal Article 23, the NSL and any other legislation which violates international human rights laws and standards. We also call on other governments to safeguard the fundamental rights and freedoms of Hongkongers, in particular those actively defending human rights, within their jurisdictions.

    “The rising risk of transnational repression, which Amnesty has documented and which is explicitly tied to Hong Kong’s national security legislation, demands a response by governments worldwide. As a start, that means denouncing incidents of transnational repression and pursuing accountability for criminal acts targeting activists and others in the country of residence.”

    Background

    On 19 March 2024, Hong Kong’s Legislative Council unanimously voted to pass the Safeguarding National Security Ordinance based on Article 23 of the Basic Law, Hong Kong’s mini-constitution.

    The law, which took effect on 23 March 2024, introduced China’s definition of “national security” and “state secrets”, together with other broadly defined offences which further restricted freedom of expression and the right to protest. It also replaced a widely used colonial-era sedition law with its own provisions on sedition which now expressly cover acts or speech which do not incite violence. The maximum prison sentence for sedition was increased from two to seven years, or up to 10 years if involving “collusion with an external force”.

    Amnesty International submitted an analysis of its proposals to the government during the consultation period, concluding that the offences and changes to investigatory powers are contrary to Hong Kong’s human rights obligations. After the law was passed, Amnesty International issued a briefing paperproviding an in-depth analysis of the effects of the law on both Chinese and non-Chinese individuals, in particular via its purported extraterritorial application.

    MIL OSI – Submitted News –

  • MIL-OSI Canada: Minister Bendayan to participate in a Citizenship Ceremony to mark International Francophonie Day

    Source: Government of Canada News

    Media advisory

    Ottawa, March 19, 2025 —The Honourable Rachel Bendayan, in her first ceremony as Minister of Immigration, Refugees and Citizenship, will welcome 64 of Canada’s newest citizens from 31 different countries at this special ceremony to mark International Francophonie Day. MJ Quraishi will preside over the ceremony.

    Thursday, March 20, 2025

    2 p.m. ET

    Notes for media:

    • Media are asked to register in advance for this in-person event by sharing their name, title, email address and outlet with IRCC.Info-Info.IRCC@cic.gc.ca by Thursday, March 20, at 10:00 a.m. ET. Please include “RSVP for March 20 Citizenship Ceremony” in the subject line of the email.
    • Media attending the event in person are asked to arrive no later than 1:45 p.m. ET.
    • Photography and video are permitted during the ceremony.

    For more information (media only):

    Renée LeBlanc Proctor
    Press Secretary
    Office of the Minister
    Immigration, Refugees and Citizenship Canada
    Renee.Proctor@cic.gc.ca

    Media Relations
    Communications Sector
    Immigration, Refugees and Citizenship Canada
    613-952-1650
    media@cic.gc.ca

    MIL OSI Canada News –

  • MIL-OSI Canada: Protecting Alberta from unconstitutional federal overreach

    [. The Critical Infrastructure Defence Amendment Act, 2025, would make amendments to the CIDA to update the definition of essential infrastructure to include facilities where oil and gas production and emission data and records are held, as well as the two-kilometre-deep border zone north of the Alberta-United States border.

    “Our government will continue using every tool we can to defend the best interests of Albertans, our economy, and our industry. These amendments would further assert Alberta’s exclusive provincial jurisdiction to develop its natural resources and ensure our southern border remains secure. We will not tolerate the continuous and unconstitutional overreaches made by the federal government. Alberta will continue its pursuit of doubling our oil and gas production to meet the growing global demand for energy and we will not let Ottawa stand in the way of our province’s future prosperity.”

    Danielle Smith, Premier

    “Whether securing our border or calling on the federal government to scrap its harmful, job-killing emissions cap, our government will always prioritize public safety and defend Alberta’s interests. These amendments will ensure we have the necessary tools to protect our economy, industry and economic prosperity right now and in the years to come.

    Mickey Amery, Minister of Justice and Attorney General

    Updating the Critical Infrastructure Defence Act to include facilities where oil and gas production and emission data and records are held will help protect Alberta’s economy and the province’s ability to continue producing responsible energy to meet the world’s growing demands. These amendments are in line with the Alberta Sovereignty Within a United Canada Act motion, passed in December 2024, which stated that all emissions data be exclusively owned by the province, and if the federal government’s proposed emissions cap is found to be unconstitutional, federal enforcement officers would have no reason to conduct emissions cap inspections or collect data.

    “This production cap will kill tens of thousands of jobs and devastate Alberta’s economy, all while global emissions rise. Protecting Alberta’s emissions data is part of our plan to defend our province if the proposed cap ever becomes law. We will never let the federal Liberal government sacrifice Alberta’s prosperity for their extreme ideological agenda.”

    Rebecca Schulz, Minister of Environment and Protected Areas

    The Critical Infrastructure Defence Act protects essential infrastructure by creating offences under the act for trespassing, interfering with operations or causing damage. Proposed amendments would also explicitly state the act applies to the federal government.

    As part of government’s efforts to strengthen security in the area near the international border, a two-kilometre-deep border zone north of the entire Alberta-United States border was designated as essential infrastructure in the Critical Infrastructure Defence Regulation in January 2025. These legislative changes would further enshrine this in legislation.

    “The proposed amendments are vital to increasing border security along Alberta’s southern USA border. Let this be a message to all potential traffickers, especially those who traffic deadly fentanyl, that Alberta’s southern border is secure. Anyone caught trespassing in the red zone, interfering with, or damaging essential infrastructure, and those who do not have a lawful right to be on the essential infrastructure will be arrested.”

    Mike Ellis, Minister of Public Safety and Emergency Services

    The Critical Infrastructure Amendment Act will combine the definition of essential infrastructure in one place by including the two-kilometre border zone, as designated in the regulation, into the act. These changes would help protect Alberta’s economy, industry and prosperity and ensure peace officers have the tools needed to strengthen security in the area near the international border.

    Related information

    • Bill 45: Critical Infrastructure Defence Amendment Act, 2025

    Related news

    • Protecting Alberta’s economic future from Ottawa (Nov. 26, 2024)

    Multimedia

    • Watch the news conference
    • Listen to the news conference

    MIL OSI Canada News –

  • MIL-OSI New Zealand: InternetNZ – Concern about AI remains high amongst New Zealanders

    Source: InternetNZ

    A recent Internet Insights survey conducted by InternetNZ has revealed that a large majority of New Zealanders (68%) are worried about the potential malicious use of AI and the lack of regulation surrounding it. While only 10% of respondents expressed more excitement than concern, 44% reported feeling more concerned than excited.
    InternetNZ Chief Executive Vivien Maidaborn believes that widespread acceptance of AI is still yet to come, but acknowledges that New Zealanders are taking the initiative to understand AI and its implications.
    Maidaborn stated, “We’re mostly still getting to grips with AI and exploring what it means to us. The concern that New Zealanders are expressing is reasonable, given the lack of awareness and education or Governmental guidance there is about it.”
    The survey also highlighted specific areas of concern, with 68% of respondents highly concerned about AI being used for malicious purposes. Other major concerns included insufficient regulation and laws (62%), inaccurate information from AI (62%), and unintended harm caused by AI (60%).
    Despite these concerns, 73% of New Zealanders admitted to knowing only ‘a little’ about AI, and 12% said they know nothing at all. Misuse of intellectual property was also a concern for 52% of respondents.
    Maidaborn emphasised the need for Government action to protect citizens from potential harm as AI continues to evolve, stating, “The New Zealand public bears the brunt of people creating tools and releasing them to the market without regulation, so we need our government to be thinking about what guidelines, policies, and laws are required to keep us safe and informed.
    “She also highlighted the importance of ensuring that AI benefits New Zealanders, stating, “The main focus for AI needs to be getting it to add value to our lives and to help us as New Zealanders, and that remains yet to be seen.”
    Currently, New Zealand is ranked 40th on the Oxford University Government AI Readiness Index. The United States, Canada, UK, France, and Australia are all in the top ten.

    MIL OSI New Zealand News –

  • MIL-OSI Asia-Pac: Government of India Taking Measures Against Online Pornography

    Source: Government of India

    Government of India Taking Measures Against Online Pornography

    New IT Rules Mandate Faster Removal of Harmful Online Content

    Posted On: 19 MAR 2025 9:44PM by PIB Delhi

    The policies of the Central Government are aimed at ensuring an open, safe, trusted and accountable Internet for its users.

    The Information Technology Act, 2000 (“IT Act”) provides punishment for publishing or transmitting obscene material and material containing sexually explicit act in electronic form. The IT Act also has stringent punishment for publishing or transmitting of material depicting children in sexually explicit act in electronic form.

    Also, the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021 (“IT Rules, 2021”) casts obligations on the intermediaries, including social media intermediaries, to observe due diligence and if they fail to observe such due diligence, they lose the exemption from their liability under law for third-party information or data or communication link hosted by them. Such due diligence includes that in case a significant social media intermediary is providing services primarily in the nature of messaging shall enable the identification of the first originator of the information on its computer resource for the purposes of prevention, detection, investigation, prosecution or punishment of an offence related to rape, sexually explicit material or child sexual abuse material.

    Such due diligence also includes that intermediaries shall remove within 24 hours any content which prima facie exposes the private area of any individual, shows such individual in full or partial nudity or shows or depicts such individual in any sexual act or conduct. Further, the rules provide for the establishment of one or more Grievance Appellate Committee(s) to allow users to appeal against decisions taken by Grievance Officers of social media intermediary on such complaints. 

    To ensure a good and healthy entertainment in accordance with the provisions of the Cinematograph Act 1952 and the Cinematograph (Certification) Rules 1983, Central Board of Film Certification (CBFC), regulates the public exhibition of films including adult films. According to the guidelines issued by them, films which are considered unsuitable for exhibition to non-adults shall be certified for exhibition to adult audiences only.

    Further for online publishers of curated content, the IT Rules, 2021 prescribes the code of ethics publishers of online curated content, commonly known as OTT Platforms. This code requires the OTT Platforms to classify content in specified age-appropriate categories, restrict access of age-inappropriate content by children, and implement an age verification mechanism for content classified as “Adult”.

    To further strengthen the mechanism to deal with such cybercrimes in a coordinated manner, the Government has also taken several other measures, including the following:

    (i) The Ministry of Home Affairs operates a National Cyber Crime Reporting Portal (www.cybercrime.gov.in) to enable citizens to report complaints pertaining to all types of cybercrimes, with special focus on cybercrimes against children. The Ministry has also set up the Indian Cyber Crime Coordination Centre (I4C) to deal with all types of cybercrime, including cybercrime against children, in a coordinated and comprehensive manner.

    (ii)  The Ministry of Home Affairs has provided financial assistance to States and Union territories under the Cyber Crime Prevention against Women and Children Scheme for capacity building, including for the setting up of cyber forensic-cum-training laboratories and training of personnel of law enforcement agencies, public prosecutors and judicial officers.

    (iii) Government has from time to time blocked websites containing child sexual abuse material (CSAM), based on lists from Interpol received through the Central Bureau of Investigation, India’s national nodal agency for Interpol.

    (iv) Government has issued an order to Internet Service Providers, directing them to implement Internet Watch Foundation, UK or Project Arachnid, Canada list of CSAM websites/webpages on a dynamic basis and block access to such web pages or websites.

    (v) The Dep artment of Telecommunications has requested Internet Service Providers (ISPs) to spread awareness among their subscribers about the use of parental control filters, and has also directed ISPs with International Long-Distance license to block certain websites found to be containing CSAM.

    (vi) To spread awareness on cybercrime, the Ministry of Home Affairs has taken several steps that include dissemination of messages on cybercrime through the Twitter handle @cyberDost, radio campaigns and publishing of a Handbook for Adolescents/Students.

    (vii) A MoU has been signed between the National Crimes Record Bureau (NCRB), Ministry of Home Affairs (MHA) and National Center for Missing and Exploited Children (NCMEC), USA regarding sharing of Tipline reports on online child explicit material and child sexual exploitation contents from NCMEC. The Tip lines, as received from NCMEC, are being shared with States/UTs online through the National Cybercrime Reporting Portal for taking further action.

    This information was given by the Union Minister of Railways, Information & Broadcasting and Electronics & Information Technology Shri Ashwini Vaishnaw in a written reply in Lok Sabha today.

    ***

    Dharmendra Tewari/Navin Sreejith

    (Release ID: 2113098) Visitor Counter : 36

    MIL OSI Asia Pacific News –

  • MIL-OSI USA: Interview with Michiharu Hyogo, Citizen Scientist and First Author of a New Scientific Paper

    Source: NASA

    Peer-reviewed scientific journal articles are the bedrock of science. Each one represents the culmination of a substantial project, impartially checked for accuracy and relevance – a proud accomplishment for any science team. 
    The person who takes responsibility for writing the paper must inevitably and repeatedly  write, edit, and rewrite its content as they receive comments and constructive criticism from colleagues, peers, and editors. And the process involves much more than merely re-writing the words. Implementing feedback and polishing the paper regularly involves  reanalyzing data and conducting additional analyses as needed, over and over again. The person who  successfully climbs this mountain of effort can then often earn the honor of being named the first author of a peer-reviewed scientific publication. To our delight, more and more of NASA’s citizen scientists have taken on this demanding challenge, and accomplished this incredible feat.
    Michiharu Hyogo is one of these pioneers. His paper, “Unveiling the Infrared Excess of SIPS J2045-6332: Evidence for a Young Stellar Object with Potential Low-Mass Companion” (Hyogo et al. 2025) was recently accepted for publication in the journal Monthly Notices of the Royal Astronomical Society. He conceived of the idea for this paper, performed most of the research using of data from NASA’s retired Wide-field Infrared Survey Explorer (WISE) mission, and submitted it to the journal. We asked him some questions about his life and he shared with us some of the secrets to his success.

    Q: Where do you live, Michi?
    A: I have been living in Tokyo, Japan since the end of 2012. Before that, I lived outside Japan for a total of 21 years, in countries such as Canada, the USA, and Australia.
    Q: Which NASA Citizen Science projects have you worked on?
    A: I am currently working on three different NASA-sponsored projects: Disk Detective, Backyard Worlds: Planet 9, and Planet Patrol.
    Q: What do you do when you’re not working on these projects?
    A: Until March of last year, I worked as a part-time lecturer at a local university in Tokyo. At the moment, I am unemployed and looking for similar positions. My dream is to work at a community college in the USA, but so far, my job search has been unsuccessful. In the near future, I hope to teach while also working on projects like this one. This is my dream.
    Q: How did you learn about NASA Citizen Science?
    A: It’s a very long story. A few years after completing my master’s degree, around 2011, a friend from the University of Hawaii (where I did my bachelor’s degree) introduced me to one of the Zooniverse projects. Since it was so long ago, I can’t remember exactly which project it was—perhaps Galaxy Zoo or another one whose name escapes me.
    I definitely worked on Planet Hunters, classifying all 150,000 light curves from (NASA’s) Kepler observatory. Around the time I completed my classifications for Planet Hunters, I came across Disk Detective as it was launching. A friend on Facebook shared information about it, stating that it was “NASA’s first sponsored citizen science project aimed at publishing scientific papers”.
    At that time, I was unemployed and had plenty of free time, so I joined without giving much thought to the consequences. I never expected that this project would eventually lead me to write my own paper — it was far beyond anything I had imagined.
      Q: What would you say you have gained from working on these NASA projects?A: Working on these NASA-sponsored projects has been an incredibly valuable experience for me in multiple ways. Scientifically, I have gained hands-on experience in analyzing astronomical data, identifying potential celestial objects, and contributing to real research efforts. Through projects like Disk Detective,Backyard Worlds: Planet 9, and Planet Patrol, I have learned how to systematically classify data, recognize patterns, and apply astrophysical concepts in a practical setting.
    Beyond the technical skills, I have also gained a deeper understanding of how citizen science can contribute to professional research. Collaborating with experts and other volunteers has improved my ability to communicate scientific ideas and work within a research community.
    Perhaps most importantly, these projects have given me a sense of purpose and the opportunity to contribute to cutting-edge discoveries. They have also led to unexpected opportunities, such as co-authoring scientific papers — something I never imagined when I first joined. Overall, these experiences have strengthened my passion for astronomy and my desire to continue contributing to the field.
    Q: How did you make the discovery that you wrote about in your paper?
    A: Well, the initial goal of this project was to discover circumstellar disks around brown dwarfs. The Disk Detective team assembled more than 1,600 promising candidates that might possess such disks. These objects were identified and submitted by volunteers from the same project, following the physical criteria outlined within it.
    Among these candidates, I found an object with the largest infrared excess and the fourth-latest spectral type. This was the moment I first encountered the object and found it particularly interesting, prompting me to investigate it further.
    Although we ultimately did not discover a disk around this object, we uncovered intriguing physical characteristics, such as its youth and the presence of a low-mass companion with a spectral type of L3 to L4.
    Q: How did you feel when your paper was accepted for publication?
    A: Thank you for asking this question—I truly appreciate it. I feel like the biggest milestone of my life has finally been achieved!
    This is the first time I genuinely feel that I have made a positive impact on society. It feels like a miracle. Imagine if we had a time machine and I could go back five years to tell my past self this whole story. You know what my past self would say? “You’re crazy.”
    Yes, I kept dreaming about this, and deep down, I was always striving toward this goal because it has been my purpose in life since childhood. I’m also proud that I accomplished something like this without being employed by a university or research institute. (Ironically, I wasn’t able to achieve something like this while I was in grad school.)
    I’m not sure if there are similar examples in the history of science, but I’m quite certain this is a rare event.
    Q: What would you say to other citizen scientists about the process of writing a paper?
    A: Oh, there are several important things I need to share with them. 
    First, never conduct research entirely on your own. Reach out to experts in your field as much as possible. For example, in my case, I collaborated with brown dwarf experts from the Backyard Worlds: Planet 9 team. When I completed the first draft of my paper, I sent it to all my collaborators to get their feedback on its quality and to check if they had any comments on the content. It took some time, but I received a lot of helpful suggestions that ultimately improved the clarity and conciseness of my paper.
    If this is your first time receiving extensive feedback, it might feel overwhelming. However, you should see it as a valuable opportunity—one that will lead you to stronger research results. I am truly grateful for the feedback I received. This process will almost certainly help you receive positive feedback from referees when you submit your own paper. That’s exactly what happened to me.
    Second, do not assume that others will automatically understand your research for you. This seems to be a common challenge among many citizen scientists. First, you must have a clear understanding of your own research project. Then, it is crucial to communicate your progress clearly and concisely, without unnecessary details. If you have questions—especially when you are stuck — be specific.
    For example, I frequently attend Zoom meetings for various projects, including Backyard Worlds: Planet 9 and Disk Detective. In every meeting, I give a brief recap of what I’ve been working on — every single time — to refresh the audience’s memory. This helps them stay engaged and remember my research. (Screen sharing is especially useful for this.) After the recap, I present my questions. This approach makes it much easier for others to understand where I am in my research and, ultimately, helps them provide potential solutions to the challenges I’m facing.
    Lastly, use Artificial Intelligence (AI) as much as possible. For tasks like editing, proofreading, and debugging, AI tools can be incredibly helpful. I don’t mean to sound harsh, but I find it surprising that some people still do these things manually. In many cases, this can be a waste of time. I strongly believe we should rely on machines for tasks that we either don’t need to do ourselves or simply cannot do. This approach saves time and significantly improves productivity.
    Q: Thank you for sharing all these useful tips! Is there anything else you would like to add?
    A: I would like to sincerely thank all my collaborators for their patience and support throughout this journey. I know we have never met in person, and for some of you, this may not be a familiar way to communicate (it wasn’t for me at first either). If that’s the case, I completely understand. I truly appreciate your trust in me and in this entirely online mode of communication. Without your help, none of what I have achieved would have been possible.
    I am now thinking about pushing myself to take on another set of research projects. My pursuit of astronomical research will not stop, and I hope you will continue to follow my journey. I will also do my best to support others along the way.

    MIL OSI USA News –

  • MIL-OSI USA: ESA Previews Euclid Mission’s Deep View of ‘Dark Universe’

    Source: NASA

    With contributions from NASA, the mission is looking back into the universe’s history to understand how the universe’s expansion has changed. 
    The Euclid mission — led by ESA (European Space Agency) with contributions from NASA — aims to find out why our universe is expanding at an accelerating rate. Astronomers use the term “dark energy” to refer to the unknown cause of this phenomenon, and Euclid will take images of billions of galaxies to learn more about it. A portion of the mission’s data was released to the public by ESA released on Wednesday, March 19.
    This new data has been analyzed by mission scientists and provides a glimpse of Euclid’s progress. Deemed a “quick” data release, this batch focuses on select areas of the sky to demonstrate what can be expected in the larger data releases to come and to allow scientists to sharpen their data analysis tools in preparation.
    The data release contains observations of Euclid’s three “deep fields,” or areas of the sky where the space telescope will eventually make its farthest observations of the universe. Featuring one week’s worth of viewing, the Euclid images contain 26 million galaxies, the most distant being over 10.5 billion light-years away. Launched in July 2023, the space telescope is expected to observe more than 1.5 billion galaxies during its six-year prime mission.

    By the end of that prime mission, Euclid will have observed the deep fields for a total of about 40 weeks in order to gradually collect more light, revealing fainter and more distant galaxies. This approach is akin to keeping a camera shutter open to photograph a subject in low light.
    The first deep field observations, taken by NASA’s Hubble Space Telescope in 1995, famously revealed the existence of many more galaxies in the universe than expected. Euclid’s ultimate goal is not to discover new galaxies but to use observations of them to investigate how dark energy’s influence has changed over the course of the universe’s history.
    In particular, scientists want to know how much the rate of expansion has increased or slowed down over time. Whatever the answer, that information would provide new clues about the fundamental nature of this phenomenon. NASA’s Nancy Grace Roman Space Telescope, set to launch by 2027, will also observe large sections of the sky in order to study dark energy, complementing Euclid’s observations.

    Looking Back in Time
    To study dark energy’s effect throughout cosmic history, astronomers will use Euclid to create detailed, 3D maps of all the stuff in the universe. With those maps, they want to measure how quickly dark energy is causing galaxies and big clumps of matter to move away from one another. They also want to measure that rate of expansion at different points in the past. This is possible because light from distant objects takes time to travel across space. When astronomers look at distant galaxies, they see what those objects looked like in the past.
    For example, an object 100 light-years away looks the way it did 100 years ago. It’s like receiving a letter that took 100 years to be delivered and thus contains information from when it was written. By creating a map of objects at a range of distances, scientists can see how the universe has changed over time, including how dark energy’s influence may have varied.
    But stars, galaxies, and all the “normal” matter that emits and reflects light is only about one-fifth of all the matter in the universe. The rest is called “dark matter” — a material that neither emits nor reflects light. To measure dark energy’s influence on the universe, astronomers need to include dark matter in their maps.  
    Bending and Warping
    Although dark matter is invisible, its influence can be measured through something called gravitational lensing. The mass of both normal and dark matter creates curves in space, and light traveling toward Earth bends or warps as it encounters those curves. In fact, the light from a distant galaxy can bend so much that it forms an arc, a full circle (called an Einstein ring), or even multiple images of the same galaxy, almost as though the light has passed through a glass lens.
    In most cases, gravitational lensing warps the apparent shape of a galaxy so subtly that researchers need special tools and computer software to see it. Spotting those subtle changes across billions of galaxies enables scientists to do two things: create a detailed map of the presence of dark matter and observe how dark energy influenced it over cosmic history.
    It is only with a very large sample of galaxies that researchers can be confident they are seeing the effects of dark matter. The newly released Euclid data covers 63 square degrees of the sky, an area equivalent to an array of 300 full Moons. To date, Euclid has observed about 2,000 square degrees, which is approximately 14% of its total survey area of 14,000 square degrees. By the end of its mission, Euclid will have observed a third of the entire sky.
    The dataset released this month is described in several preprint papers available today. The mission’s first cosmology data will be released in October 2026. Data accumulated over additional, multiple passes of the deep field locations will also be included in the 2026 release.
    More About Euclid
    Euclid is a European mission, built and operated by ESA, with contributions from NASA. The Euclid Consortium — consisting of more than 2,000 scientists from 300 institutes in 15 European countries, the United States, Canada, and Japan — is responsible for providing the scientific instruments and scientific data analysis. ESA selected Thales Alenia Space as prime contractor for the construction of the satellite and its service module, with Airbus Defence and Space chosen to develop the payload module, including the telescope. Euclid is a medium-class mission in ESA’s Cosmic Vision Programme.
    Three NASA-supported science teams contribute to the Euclid mission. In addition to designing and fabricating the sensor-chip electronics for Euclid’s Near Infrared Spectrometer and Photometer (NISP) instrument, JPL led the procurement and delivery of the NISP detectors as well. Those detectors, along with the sensor chip electronics, were tested at NASA’s Detector Characterization Lab at Goddard Space Flight Center in Greenbelt, Maryland. The Euclid NASA Science Center at IPAC (ENSCI), at Caltech in Pasadena, California, supports U.S.-based science investigations, and science data is archived at the NASA / IPAC Infrared Science Archive (IRSA). JPL is a division of Caltech.
    For more information about Euclid go to:
    science.nasa.gov/mission/euclid/
    News Media Contact
    ESA Media Relationsmedia@esa.int
    Calla CofieldJet Propulsion Laboratory, Pasadena, Calif.626-808-2469calla.e.cofield@jpl.nasa.gov
    2025-039

    MIL OSI USA News –

  • MIL-OSI Canada: Joint statement: Premier Smith, Minister Jean respond to Build Canada Now letter

    Source: Government of Canada regional news (2)

    MIL OSI Canada News –

  • MIL-OSI Europe: Written question – Massive brain drain from EU universities is an existential threat to Europe’s future – E-001033/2025

    Source: European Parliament

    Question for written answer  E-001033/2025
    to the Commission
    Rule 144
    Nikos Pappas (The Left)

    The European Union is facing a growing brain drain crisis, with the best young scientists, researchers and academics leaving Europe for countries such as the USA, Canada and China. This exodus undermines the EU’s strategic autonomy and its ability to innovate and compete globally.

    Despite investments through Horizon Europe and Erasmus+, the reality is that funding is not enough to make European universities competitive alongside the world’s top institutions. Low salaries, a lack of cutting-edge research opportunities and cumbersome bureaucratic procedures discourage young scientists from staying or returning to Europe.

    Given that this trend poses a serious threat to the EU’s knowledge economy and its leadership in key areas such as artificial intelligence, biotechnology and climate innovation:

    • 1.Does the Commission recognise brain drain from EU universities as a critical issue for the future of the Union?
    • 2.How does the Commission intend to incorporate into the upcoming review of Horizon Europe mechanisms that will enhance the attraction and retention of scientific talent in Europe, preventing the brain drain of young researchers to third countries?
    • 3.Is the Commission considering the creation of specific funds or targeted programmes to support the European academic community?

    Submitted: 10.3.2025

    Last updated: 19 March 2025

    MIL OSI Europe News –

  • MIL-OSI Global: How Canadian small businesses can expand into Asian markets and reduce their dependence on the U.S.

    Source: The Conversation – Canada – By Michael Joseph Dominic Roberts, Associate Dean & Associate Professor, Faculty of Business and Communications Studies, Mount Royal University

    The recent escalation of trade tensions under United States President Donald Trump has significantly increased uncertainty for Canadian SMEs (small- and medium-sized enterprises), particularly in the high-value service sector.

    Examples of this sector include financial technology and investment services, aerospace and advanced manufacturing, and clean technology sectors focused on renewable energy and sustainable resource management.

    For decades, Canadian businesses have relied on a stable trade relationship with the U.S. But under Trump’s “America First” protectionist policies, that stability has crumbled.

    With tariffs, trade barriers and shifting political dynamics making North American markets increasingly unpredictable, many Canadian businesses are searching for ways to reduce their dependence on the U.S. and expand elsewhere.

    Expanding into Asia

    Asia has emerged as an attractive alternative for businesses due to its rapidly expanding middle class, growing investments in infrastructure and technology, and rising demand for specialized expertise.

    This trend is particularly evident in the energy sector. The Asia-Pacific region — though currently accounting for only eight per cent of the global market — is expected to grow significantly as countries expand energy infrastructure and seek advanced technologies to improve resource extraction for environmental sustainability.



    Read more:
    Trump’s tariff threat is a sign that Canada should be diversifying beyond the U.S.

    This presents promising growth opportunities for Canadian businesses in sectors like engineering consulting, technology, energy and environmental services, where they already have a competitive edge.

    However, entering Asian markets presents unique challenges, requiring businesses to rethink their strategies.

    Breaking into Asian markets

    Expanding into Asian markets is no easy task for SMEs. These businesses face substantial barriers, including significant differences in regulatory environments, business practices and customer expectations.

    For service-based businesses, the challenge is even greater. Unlike physical products, which can be easily displayed and tested, services are harder to quantify and prove to new clients. This makes it more difficult for SMEs to build credibility and demonstrate their value in unfamiliar markets.

    Our recent study explored how Canadian SMEs in the service sector can successfully overcome these barriers when entering Asian markets like China, India and South Korea.

    We brought together industry experts, government officials and senior executives from SMEs already operating successfully in Asia for a two-day workshop. We analyzed their firsthand experiences, challenges and recommendations to develop a clear and actionable framework called the 4P strategy (potential, proposition, presence and policy).

    These four steps offer SMEs a structured approach to understanding local conditions, differentiating offerings, establishing trusted partnerships and gaining government support.

    1. Potential: Understand the local market

    SMEs must understand Asian market regulations, business culture and market structures. Unlike North America’s relatively stable environment, Asian markets often feature rapidly evolving regulations and unpredictable policy changes.

    Businesses should balance these regulatory uncertainties against economic opportunities and be prepared to swiftly adapt when necessary. For example, policy changes in Asian markets, such as shifting foreign investment regulations or evolving environmental standards, can create uncertainty for SMEs operating abroad.

    Companies must remain agile to navigate regulatory shifts while leveraging the relative economic stability of the region.

    Patience and flexibility are also critical. In many Asian markets, business deals take longer to close due to hierarchical, relationship-driven decision-making. SMEs should anticipate these extended timelines and factor them into their planning.

    Our study found that deals that might be finalized quickly in North America can take years to develop in Asia, requiring firms to exercise patience before realizing significant profits. Successful market entry depends on a long-term approach and the ability to adapt to extended gestation periods.

    2. Proposition: Adapt services to fit local needs

    SMEs need to localize their offerings beyond language translation, adapting their branding, marketing and customer-engagement strategies to fit local contexts.

    A clearly defined and differentiated service offering is critical. Businesses must clearly define what sets them apart from local competitors and ensure their services address specific market needs.

    Pricing strategies should also align with local market expectations. Many Asian markets, especially in business-to-business services, are highly price-sensitive. SMEs must balance competitive pricing with value.

    In some cases, businesses may need to use performance-based pricing models — where clients pay based on results rather than a fixed fee — to remain competitive while protecting profit margins.

    3. Presence: Build a local network and partnerships

    A strong local presence is vital for success in Asia. SMEs should invest in trusted local partnerships or regional offices to build credibility, facilitate smoother operations and better understand local customer needs.

    Relationships play a central role in doing business in Asia. Unlike in North America, where successful transactions often lead to partnerships, in Asia, relationships must be built first.

    This relationship-first approach is deeply embedded in business culture, requiring firms to prioritize long-term engagement over immediate gains. Research has shown that trust-building is essential for long-term success in Asian markets, as strong relationships ultimately lead to transactions.

    Canadian SMEs entering these markets should be prepared to shift their approach, recognizing that sustained commitment and relationship-building are key to unlocking business opportunities.

    4. Policy: Take advantage of government support

    Many Canadian SMEs underestimate the extent of available government support and miss out on resources that reduce risks and make it easier to establish a foothold abroad.

    Our study found that SMEs expanding to Asia can access valuable support from government departments and trade commissioners at Canadian embassies. In energy services subsectors, government and non-governmental organizations can assist SMEs in forming partnerships with Asian firms.

    Additionally, agencies like Export Development Canada offer training, financial support and market-entry resources that many SMEs overlook. Taking advantage of these programs can help businesses navigate regulatory challenges and accelerate their international expansion.

    Government-backed programs also support research, development and technology adaptation to help businesses tailor their services to local markets. Our study found that making use of these resources reduces barriers, lowers entry risks and significantly enhances businesses’ likelihood of success in Asia.

    Seizing the opportunity

    Rather than merely serving as an alternative to the increasingly restrictive U.S. market, Asia presents significant growth opportunities for Canadian SMEs but demands strategic patience, adaptability and sustained commitment.

    However, success in Asia won’t come overnight. Unlike the relatively familiar North American market, expanding into Asia requires a patience, adaptability and a willingness to learn a different business culture.

    By adopting the 4P strategies, Canadian businesses can effectively navigate market-entry barriers and position themselves for success in an era of shifting global trade dynamics.

    Etayankara Muralidharan receives funding from Social Sciences and Humanities Research Council (SSHRC).

    Michael Joseph Dominic Roberts 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. How Canadian small businesses can expand into Asian markets and reduce their dependence on the U.S. – https://theconversation.com/how-canadian-small-businesses-can-expand-into-asian-markets-and-reduce-their-dependence-on-the-u-s-251991

    MIL OSI – Global Reports –

  • MIL-OSI Canada: Provincial secondary-suite pilot program update

    Due to uncertain financial times, and with the federal government committing to implement a similar program, the Province’s pilot secondary-suite incentive program will no longer be accepting applications after March 30, 2025.

    Funds allocated from this program will go toward other existing and future BC Housing programs and services aimed at delivering more affordable homes for people, including BC Builds.

    “As we face uncertain economic conditions and an unpredictable tariff situation with the United States, we’re making sure we deliver the best value for people,” said Ravi Kahlon, Minister of Housing and Municipal Affairs. “With the federal government committing to deliver a national secondary-suite program, we are ensuring that we are not duplicating programs so we can use those funds for other programs that give people more housing options.”

    Announced in 2023, the three-year pilot program was designed to provide assistance in the form of a forgivable loan to eligible homeowners who build a secondary suite or accessory dwelling unit on their property.

    In 2024, the federal government announced the intention to launch a similar program, the Canada secondary-suite loan program, enabling homeowners to access low-interest loans of up to $80,000 to add a secondary suite. Homeowners in B.C. who are interested in developing a secondary suite may have the opportunity to apply for loans through the federal program when it is launched.  Applicants who have started the process with the provincial secondary-suite incentive program and who have received all necessary permits and cost estimates will be able to submit their application until March 30, 2025.

    BC Housing will continue to work with approved applicants to process committed funds, register forgivable mortgages and carry out loan forgiveness over the coming years.

    The Province is continuing to focus on creating affordable housing and initiatives that address the housing needs of British Columbians. Since 2017, the Province has nearly 92,000 homes delivered or underway, with actions underway to help deliver thousands more.

    Learn More:

    To learn more about the ending of the secondary suite program, visit: https://www.bchousing.org/housing-assistance/secondary-suite

    MIL OSI Canada News –

  • MIL-OSI Security: Pictou — RCMP investigating suspicious incident in Pictou

    Source: Royal Canadian Mounted Police

    Pictou County District RCMP is asking for the public’s help in identifying a person of interest following a suspicious incident that occurred in Pictou.

    Yesterday, at approximately 10 p.m., RCMP officers responded to a report of an attempted abduction in the area of Denoon St. Investigators learned that an 18-year-old woman was walking home when she was approached by a man who offered her a ride. When the woman declined, the man exited his pickup truck and attempted to grab her.

    The victim was not physically injured and ran for help.

    The man of interest is described as white and in his 60s. At the time of the incident, he had a long white beard and was wearing a camouflage hat with an antlers emblem on the front, a camouflage jacket, and khaki pants.

    The vehicle of interest is described as a white Ford extended cab pickup with a black push bar. The truck was heavily rusted, had a very loud exhaust, and had a burned-out passenger headlight.

    Anyone with information about this incident, or with security camera footage of the area, is asked to contact the Pictou County District RCMP at 902-485-4333. To remain anonymous, call Nova Scotia Crime Stoppers, toll-free, at 1-800-222-TIPS (8477), submit a secure web tip at www.crimestoppers.ns.ca, or use the P3 Tips app.

    MIL Security OSI –

  • MIL-OSI Europe: Canada and France are “peaceful powers and reliable allies”

    Source: France-Diplomatie – Ministry of Foreign Affairs and International Development

    Statement by M. Emmanuel Macron, President of the Republic, ahead of the working lunch with Mr Mark Carney, Prime Minister of Canada (excerpts) (Paris, March 17, 2025)

    = Check against delivery =

    Prime Minister, thank you for being in Paris today; I’d like to welcome you and say how pleased we are to have you here. Firstly, because it’s your first visit and you chose France for this first visit abroad. It’s a huge honour and it also shows the importance of all the challenges we share. On a more personal note, allow me to wish you a very happy birthday, albeit a day late.

    As you powerfully said on Friday when you took office, France – through its culture, way of life and language – is an irreducible part of Canada’s identity, just like the First Peoples and the British legacy. And we’re proud of this. We’re proud of this shared history, we’re proud of having with us an ally in every battle, a nation determined to champion a fairer world, and a people driven by a humanist ideal. During the 80th anniversary of the Normandy Landings, we paid tribute to the courage and exceptional self-sacrifice of a generation of Canadians who came to fight right here in France, like their ancestors at the Battle of Vimy Ridge, for a certain idea of freedom. That generation continues to inspire us, and Canada is a unique friend to us.

    This has been the case since the war of aggression waged by Russia against Ukraine; your country has unfailingly stood by Europe and France and the Ukrainian people. And on Saturday morning we were together at a video conference with our friend the British Prime Minister and all the other allies and partners, to talk about this. The aim of this shared commitment to standing with the Ukrainians has always been to bring about solid, lasting peace, i.e. peace with robust guarantees that will protect Ukraine against any further Russian aggression and ensure the security of the whole of Europe.

    Canada and France are peaceful powers and reliable allies who will take part in this effort together. It is in this spirit that we’ll carry on our support for Ukraine and continue to demand clear commitments from Russia, and take all necessary initiatives to make progress together with our American, European and [other] international partners. And it’s obviously one of the issues the Prime Minister and I will discuss in a moment.

    In the current international context, we also want to be able to develop our most strategic projects with our closest, most loyal partners, because we’re convinced – I believe this goes for both of us – that we are stronger together, better able to ensure that our interests are respected and to exercise our sovereignty to the full. We must be ambitious in the defence and security sectors, but also beyond, in organizing the ecological transition, developing new technology and tightening our links as much as is needed.

    We’ve already had initial successes, as proven by the recent announcement that a consortium including French businesses had been chosen for the first stage of the planned high-speed train between Quebec and Toronto, which is symbolic in every sense. Further proof is the very strong turnout by your investors and businesses at the artificial intelligence summit, which shows Canada’s strong presence and the partnership we have together in this area. Our businesses are also talking about mutual investments in the critical-metals sector – essential building-blocks for any energy transition.

    I know how much you’re also promoting fresh ambition on nuclear energy, which is the focus of long-standing cooperation between our two countries, and on quantum, where our research centres and businesses have knowledge unique in the world, which is going to be developed as part of a bilateral agreement. And after the recent artificial intelligence summit I mentioned, we’re going to continue making active efforts together, because we’re holding successive G7 presidencies, with challenges which await you in a few weeks’ time and which we’ll continue addressing, as we did from Charlevoix to Biarritz a few years ago.

    We’ll also make sure that our friendship is useful in promoting our values and our shared commitments to defending democracies, international solidarity, development, fair trade and protecting the planet. Indeed, I think we both believe that fair trade which respects international rules is a good thing for everyone’s prosperity, and it’s certainly more effective than tariffs, which create inflation and damage production chains and the integration of our economies. We too believe that the freedom of expression so precious to our countries is not the same as an outpouring of hatred, violence, online harassment and opaque algorithms. That’s why your G7 presidency in 2025 should be an opportunity for us to make progress on each of these points and basically uphold together a fair international order, in other words something that is neither the law of the strongest nor isolationism, and that’s why we’re fighting.

    The most important part of all this is still our people-to-people ties, which are both close and warm. Prime Minister, French people love Canada. The French language unites us. (…)

    In any case, Prime Minister, cher Mark, as you’ve understood, we’re welcoming a friend here, we’re welcoming him very joyfully, creating a lot of ambitions and plans together. And having known you for many years, I also know we’re welcoming here a man who loves his country, is committed to serving its interests, and thinks you can serve your country’s interests by being a good comrade on the international stage and forging effective, respectful partnerships.

    That’s the spirit that drives us too. Welcome!./.

    MIL OSI Europe News –

  • MIL-OSI Security: Stephenville — Man remains under investigation by Bay St. George RCMP for local crime spree

    Source: Royal Canadian Mounted Police

    A 31-year-old Stephenville man remains under investigation by Bay St. George RCMP for a number of crimes committed on March 17, 2025.

    Shortly after 5:00 a.m. on Monday, a pickup truck was stolen from a business on Utah Drive and, around the same time, during a break and enter at a nearby business, generators and a number of propane tanks were stolen.

    While investigating the above matters, at approximately 7:00 a.m., police received a report of a stolen all-terrain vehicle (ATV) in Fox Island River. A 2022 Can AM Outlander was stolen from a residential property. The property owner witnessed the theft and followed the suspect. Police attempted to stop the operator of the ATV, who fled the area on the stolen side by side.

    Shortly before 11:00 a.m., Bay St. George RCMP recovered the stolen pickup truck in a snow bank near Crane Place in Stephenville. The abandoned vehicle was left running and was seized as part of the investigation.

    Shortly after this, the stolen Can Am Outlander ATV was observed by its owner, traveling along the T’railway. Police attended the area and, with the assistance of the owner, the ATV was located and recovered in Heatherton. The suspect was arrested nearby without further incident.

    Following these crimes, Bay St. George RCMP received a report of a second ATV that was stolen sometime overnight from a residential property in Point Au Mal, a 2019 black and blue 800 Can Am Commander XT.

    Police are continuing to look for the stolen property, including generators, currently of an unknown make or model, propane tanks and the 2019 Can Am Commander. An image of the Can Am Commander side by side ATV is attached.

    The investigation is continuing with charges anticipated.

    Anyone having information about these crimes or the current location of the stolen property is asked to contact Bay St. George RCMP at 709-643-2118. To remain anonymous, contact Crime Stoppers: #SayItHere 1-800-222-TIPS (8477), visit www.nlcrimestoppers.com or use the P3Tips app.

    MIL Security OSI –

  • MIL-OSI: Bitfarms Schedules Fourth Quarter and Full Year 2024 Conference Call on March 27, 2025

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Ontario, March 19, 2025 (GLOBE NEWSWIRE) — Bitfarms Ltd. (NASDAQ/TSX: BITF), a global Bitcoin and vertically integrated data center company, will report its fourth quarter and full year 2024 financial results on Thursday, March 27 before the market opens. Management will host a conference call on the same day 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.

    About Bitfarms Ltd.

    Founded in 2017, Bitfarms is a global Bitcoin and vertically integrated data center company that sells its computational power to one or more mining pools from which it receives payment in Bitcoin. Bitfarms develops, owns, and operates vertically integrated mining facilities with in-house management and company-owned electrical engineering, installation service, and multiple onsite technical repair centers.

    Bitfarms currently has 15 operating Bitcoin data centersin four countries: the United States, Canada, 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/
    https://x.com/Bitfarms_io
    https://www.instagram.com/bitfarms/
    https://www.linkedin.com/company/bitfarms/

    Investor Relations Contacts:

    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

    The MIL Network –