NewzIntel.com

Category: Canada

  • MIL-OSI Security: Canadian Cybercriminal Sentenced to One Year in Prison for NFT Theft Scheme

    Source: US FBI

    ALEXANDRIA, Va. – A Canadian was sentenced yesterday to a year in prison for conspiracy to commit wire fraud, wire fraud, and conspiracy to commit aggravated identity theft.

    According to court documents, in May 2022, Cameron Albert Redman, 22, of Mississauga, Ontario, formed a scheme to steal non-fungible tokens (NFTs) by gaining unauthorized access to the X accounts of various digital artists. The conspirators used the artists’ online identities to direct the artists’ followers to fraudulent websites. There, victims would seek to claim new NFTs from the digital artists. Though victims thought they were authorizing a transaction to receive NFTs into their digital wallets, they unknowingly enabled the conspirators to remove cryptocurrency and NFTs from their wallets.

    Within a few days, Redman and his co-conspirators defrauded over 200 victims and profited over $794,000.

    Erik S. Siebert, U.S. Attorney for the Eastern District of Virginia, and Reid Davis, Special Agent in Charge of the FBI Washington Field Office’s Criminal Division, made the announcement after sentencing by U.S. District Judge Leonie M. Brinkema.

    The Justice Department’s Office of International Affairs provided substantial assistance to secure the arrest and March 2025 extradition from Portugal of Redman. The Royal Canadian Mounted Police Cybercrime Investigation Team, Central Region, provided valuable assistance in this case.

    Assistant U.S. Attorney Zoe Bedell prosecuted the case.

    A copy of this press release is located on the website of the U.S. Attorney’s Office for the Eastern District of Virginia. Related court documents and information are located on the website of the District Court for the Eastern District of Virginia or on PACER by searching for Case No. 1:25-cr-129.

    MIL Security OSI –

  • MIL-OSI Security: Canadian Cybercriminal Sentenced to One Year in Prison for NFT Theft Scheme

    Source: US FBI

    ALEXANDRIA, Va. – A Canadian was sentenced yesterday to a year in prison for conspiracy to commit wire fraud, wire fraud, and conspiracy to commit aggravated identity theft.

    According to court documents, in May 2022, Cameron Albert Redman, 22, of Mississauga, Ontario, formed a scheme to steal non-fungible tokens (NFTs) by gaining unauthorized access to the X accounts of various digital artists. The conspirators used the artists’ online identities to direct the artists’ followers to fraudulent websites. There, victims would seek to claim new NFTs from the digital artists. Though victims thought they were authorizing a transaction to receive NFTs into their digital wallets, they unknowingly enabled the conspirators to remove cryptocurrency and NFTs from their wallets.

    Within a few days, Redman and his co-conspirators defrauded over 200 victims and profited over $794,000.

    Erik S. Siebert, U.S. Attorney for the Eastern District of Virginia, and Reid Davis, Special Agent in Charge of the FBI Washington Field Office’s Criminal Division, made the announcement after sentencing by U.S. District Judge Leonie M. Brinkema.

    The Justice Department’s Office of International Affairs provided substantial assistance to secure the arrest and March 2025 extradition from Portugal of Redman. The Royal Canadian Mounted Police Cybercrime Investigation Team, Central Region, provided valuable assistance in this case.

    Assistant U.S. Attorney Zoe Bedell prosecuted the case.

    A copy of this press release is located on the website of the U.S. Attorney’s Office for the Eastern District of Virginia. Related court documents and information are located on the website of the District Court for the Eastern District of Virginia or on PACER by searching for Case No. 1:25-cr-129.

    MIL Security OSI –

  • MIL-OSI Analysis: Here’s how you can make your garden a safe and biodiverse space for urban wildlife

    Source: The Conversation – Canada – By Ann Dale, Professor Emerita, Environment & Sustainability, Royal Roads University

    Simple things like avoiding chemical pesticides and leaving leaves where they fall can help make your garden a more welcoming environment for wildlife and support biodiversity. (Jeffrey Hamilton/Unsplash)

    Biodiversity is essential to mitigating and adapting to climate change, enhancing the resilience of ecosystems and safeguarding the ecological functions that all living beings depend on for survival.

    There is little doubt that we are at a critical point in the loss of biodiversity in Canada with thousands of species currently in danger of disappearing, while global experts continue to warn about Earth’s ongoing sixth mass extinction.

    As a response to the cascading climate crisis, wildlife habitat gardens have grown in popularity. These are spaces designed to attract and sustain local wildlife, and include efforts such as rewilded meadows, pollinator patches, rain gardens, naturalized lawns and others.

    Cultivating a garden for biodiversity is not an all-in or nothing task. In fact, there is a wide range of simple actions anyone can take to regenerate and conserve biodiversity right at home.

    We are currently organizing a biodiversity public literacy campaign at the National Environmental Treasure, a people’s trust fund devoted to funding Canadian environmental organizations.

    Last year, we partnered with Prof. Nina-Marie Lister and the Ecological Design Lab at Toronto Metropolitan University on their Bylaws for Biodiversity research, along with Nature Canada and FLAP Canada, to develop Gardening for Biodiversity resources.

    Supporting biodiversity in your garden

    Educational, ecologically informed signage can help interpret the garden for visitors. These signs serve as a practical tool to share gardening practices and highlight the garden’s environmental benefits with the community.
    (Nina Marie Lister)

    Together, we’ve created a series of free, fact-based guides to help people learn how to cultivate biodiversity and support for wildlife habitat in private gardens.

    This series currently includes four comprehensive booklets, each focusing on key aspects of biodiversity gardening:

    While there are plenty of great garden practices out there, these are five easy and impactful ways to boost biodiversity and cultivate a garden safe for urban wildlife, taken directly from our booklets.

    Use alternatives to pesticides

    Pesticides in your garden can harm beneficial insects and can be detrimental to the environment, wildlife and human health. Instead of using chemical-based pesticides, try natural alternatives like biopesticides, horticultural oils and insecticidal soaps that can be just as effective.

    Likewise, attracting predatory insects and wildlife into your garden who will actively feed on the harmful pest is also an effective starting point as this is a process of pest-control that occurs naturally in healthy ecosystems.

    There are also DIY pesticides, such as sea salt spray, water-vinegar mixtures and coffee grounds.

    A rewilded habitat meadow featuring a selection of native wildflowers and habitat logs left to enrich the soil, support pollinators and offer seating for visitors.
    (Nina Marie Lister)

    Leave the leaves

    Decomposing plant litter, like fallen dead leaves, tree bark, needles and twigs, is an important component of maintaining soil health, nutrient cycling and biodiversity.

    By choosing to leave the leaves in your garden, you will support the variety of species who overwinter in them, from bees and caterpillars, to butterflies, spiders and more.

    Prioritize pollinator-attractive plants

    In addition to pollination, insects are beneficial for a variety of other reasons including for pest control, seed dispersal and decomposition.

    The best way to attract insects largely depends on which insect you are trying to attract. But as a general rule, it is always a good practice to source plants locally and prioritize native species.

    Next best to native plants are benign ornamentals and non-natives. Cultivating a diverse range of flowers, especially native plants and herbs, promotes a resilient ecosystem. It also helps natives out-compete invasive species and to reverse the downward trends of mass species decline.



    Read more:
    How to fight Insectageddon with a garden of native plants

    Make your garden safe for birds

    Birds contribute to healthy ecosystems: they pollinate plants, disperse seeds and prey on insects. Unfortunately, North American bird populations are experiencing a rapid decline due to habitat loss, degradation and other global pressures.

    Aadopting bird-safe gardening practices offers a powerful way to combat these threats and support biodiversity conservation on a local scale. Beyond core habitat elements, additional practices can enhance the garden’s appeal to birds.

    Organic gardening without pesticides or herbicides, keeping cats indoors, removing potential entanglement hazards and using bird-collision prevention markers on reflective surfaces can not only attract birds, but also ensure their safety as well.

    Birds contribute to healthy ecosystems: they pollinate plants, disperse seeds and prey on insects.
    (Unsplash/Richard Bell)

    Advocate for biodiversity

    Although there’s been a growing movement toward more biodiversity-supporting practices, outdated municipal bylaws and enforcement policies continue to limit the potential of habitat gardens.

    These disputes over the scope and application of bylaws have brought attention to various legal contradictions and outcomes that negatively impact progress on biodiversity recovery, all the while undermining and negating related environmental objectives on private land.

    By advocating and encouraging your municipal leaders to adopt science-based biodiversity-supportive bylaws, you help to establish the legal frameworks and political agendas that directly impact long-term ecological health and promote sustainable development and the regeneration of biodiversity.

    Ann Dale receives funding from the CRC Secretariat, the Social Sciences and Humanities Research Council of Canada and the Hewlett Foundation.

    Sabrina Careri 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. Here’s how you can make your garden a safe and biodiverse space for urban wildlife – https://theconversation.com/heres-how-you-can-make-your-garden-a-safe-and-biodiverse-space-for-urban-wildlife-261151

    MIL OSI Analysis –

  • MIL-OSI Analysis: Accessible, high-quality summer programs and Black joy support Black children’s return to school

    Source: The Conversation – Canada – By Ardavan Eizadirad, Associate Professor, Faculty of Education, Wilfrid Laurier University

    Summer is popularly imagined as bringing joy to all young people. Yet it is not an equal break or of the same quality for all students.

    Learning loss is the decline in academic skills and knowledge that can occur when students are not engaged in structured learning, especially during extended breaks like summer.

    It disproportionately impacts Black and low-income students who face greater systemic disadvantages within the education system.

    Black families face challenges in accessing culturally relevant and affirming summer opportunities. As work by education researcher Obianuju Juliet Bushi and others has documented, for many Black families, the question isn’t just “what will my child do this summer?” It’s “where can my child go to be safe, affirmed and supported?”



    Read more:
    Where can Black children go in summer? Black families face disparities and need equitable options

    Without access to affordable enrichment programs during the summmer, many students fall behind in reading and math, further widening the opportunity gap when school resumes in September.

    As the manager of research with the charitable, Black-led non-profit organization Youth Association for Academics, Athletics and Character Education (YAAACE) in the Jane Finch area of Toronto, I share insights about how culturally responsive community programs can address opportunity gaps, and how parents in Black families can support their kids’ successful transition back to school.

    This article draws on insights from conversations I have had with various YAAACE program participants, parents and educators, as well as leadership, including Devon Jones, Nene, and Dave Mitchell.



    Read more:
    If I could change one thing in education: Community-school partnerships would be top priority

    Anti-Black racism in education

    Despite Canada’s reputation for multiculturalism, systemic anti-Black racism remains deeply embedded in the education system, contributing to unequal opportunities for students.

    The opportunity gap refers to the unequal access to resources, supports and learning experiences that affect students’ ability to succeed, often based on race, income and geography.

    In March 2025, the Ontario Human Rights Commission released a report, “Dreams Delayed: Addressing Systemic Anti-Black Racism and Discrimination in Ontario’s Public Education System.”

    The findings confirmed that Ontario’s schools are saturated with systemic barriers for Black children and their families. These barriers include: disproportionate discipline; being streamed into non-academic tracks; lack of Black leadership in schools; Eurocentric curriculum; insufficient disaggregated identity-based data collection; and lack of access to culturally affirming environments.



    Read more:
    ‘Dreams delayed’ no longer: Report identifies key changes needed around Black students’ education

    The cost is devastating and contributes to academic underachievement, racial trauma, disengagement and the reproduction of the school-to-prison pipeline.

    This is particularly the case in low-income communities.

    Centring Black excellence

    Black youth often face higher exposure to poverty, systemic underemployment, community violence and the emotional weight of intergenerational trauma and racism.

    While these experiences shape the mental health and academic outcomes of students, schools often lack culturally relevant supports or trauma-informed responses.

    Summer programs are one important part of countering anti-Black racism in schools. These can support student transitions by mitigating learning loss and helping to close the opportunity gap.

    Programs that centre Africentricity and Black excellence led by staff with lived experiences provide culturally responsive and emotionally supportive environments that affirm Black identities.



    Read more:
    Ontario can close students’ access and opportunity gaps with community-led projects

    This builds confidence in Black students and ensures students return to school in the fall better prepared to thrive academically, socially, emotionally and culturally.

    Community-driven youth programs

    Since 2007, YAAACE has provided academic, athletic, family supports, employment and mentorship to more than 1,000 children and families annually across Toronto. Its programs are led by Black educators and mentors who reflect the community and understand the lived experiences of the youth they serve in low-income communities like the Jane and Finch neighbourhood.

    YAAACE’s seven-week Summer Institute offers a model that affirms identity, cultivates belonging and accelerates achievement. Each summer, approximately 300 students from grades 3 through 12 attend the institute, which blends literacy and numeracy instruction with culturally responsive learning, arts-based programming, robotics, mentorship and athletics.

    Students are taught by Ontario certified teachers and supported by Black staff and practitioners trained in trauma-informed care. For families who can’t afford camp fees, the program is free or subsidized.

    This is a results-based, community-driven intervention that mitigates the opportunity gap for Black students from low-income communities by creating access to experiential learning opportunities. It’s also violence prevention and intervention that builds character and supports students, with a focus on the early years.

    Cycle of empowerment

    YAAACE’s Inspire Academy Mathematics Program provides early access to high school math courses. Grade 8 graduates earn a high school math credit through an intensive summer course led by a team of teachers and teacher assistants in a supportive, inclusive environment. In cases where students are behind provincial standards, they receive additional supports with low staff-to-student ratios.

    Based on assessments administered by the teachers and reports provided to all the parents, students leave the institute more confident in their academics, better prepared to return to school and grounded culturally in who they are. Families report higher levels of engagement and lower levels of stress knowing their children are in safer, affirming spaces.

    Many of YAAACE’s youth return as peer leaders and mentors, reinforcing a cycle of empowerment.

    Programs like YAAACE do not just help kids do better in school. They also reduce long-term costs to the health-care, justice and social service systems by interrupting cycles of trauma and marginalization before they escalate.

    Tips for parents

    Summer is a crucial time to support children’s learning and well-being, especially for Black families navigating systems that often overlook their strengths.

    Below are three practical ways to support your child during the summer break and when school starts in September.

    Centre empowering examples of Black identity and culture: Expose your children to books, films, music and conversations that celebrate Black history and excellence, Africentricity and positive role models. Affirming cultural roots builds pride, resilience and a sense of belonging in systems that too often erase or distort those narratives from stereotypical perspectives.

    Create routines that balance learning and Black joy: Set daily routines that include reading, writing or problem solving but just as much make space for rest, play, creativity and movement rooted in Black joy. Learning should be holistic and joyful. It’s important as parents, guardians and community leaders that we not only talk about this but more importantly model it.

    ‘Refresh, Revive, Thrive: Black Joy in Education’ with Andrew B. Campbell, assistant professor at the University of Toronto.

    Stay engaged and be an advocate: Get to know your child’s teachers and school administrators, review school policies to be familiar with how to navigate them (for example, getting accommodations for your child’s needs) and request culturally affirming resources. Don’t hesitate to raise concerns, as your advocacy helps create more supportive learning environments and shows your child that their success is worth fighting for.

    Partnerships with Black-led organizations

    Trauma-informed, culturally responsive education must become a system-wide standard.

    This becomes a reality by building long-term partnerships with Black-led community organizations. It means embedding mental health supports and curriculum content that reflect the cultural identities and lived realities of Black diasporas. And it means collecting disaggregated race-based data to track progress and guide informed decision-making.

    It starts by funding proven data-driven programs, training educators and holding systems accountable to measurable outcomes.

    Ardavan Eizadirad receives funding from Social Sciences and Humanities Research Council (SSHRC).

    – ref. Accessible, high-quality summer programs and Black joy support Black children’s return to school – https://theconversation.com/accessible-high-quality-summer-programs-and-black-joy-support-black-childrens-return-to-school-261908

    MIL OSI Analysis –

  • MIL-OSI United Nations: ‘Delivering better’: New ECOSOC president emphasises climate action, food security

    Source: United Nations 2

    Mr. Thapa said that the motto of his presidency will be “Delivering Better,” which requires strengthening partnerships and multilateralism to achieve more effective implementation of initiatives, including the 2030 Agenda adopted 15 years ago.  

    “Delivering better is not an option — it is an imperative. It is our pathway to restoring trust in multilateralism, bridging divides, empowering the most vulnerable and translating commitments into action,” he said.  

    Four vice-presidents were also elected for the coming year: Amar Bendjama (Algeria), Héctor Gómez Hernández (Spain), Wellington Darío Bencosme Castaños (Dominican Republic) and Paruyr Hovhannisyan (Armenia).

    80 years of ECOSOC 

    The UN Economic and Social Council (ECOSOC) is one of the six principal organs of the United Nations, responsible for promoting international economic and social cooperation and development.

    It has 54 member States, elected by the General Assembly for three-year terms on a rotating basis, with seats distributed by region.

    ECOSOC coordinates the work of UN specialized agencies, commissions and bodies on issues ranging from sustainable development and human rights. It also serves as a central platform for fostering debate, forging consensus, and promoting action on global economic and social issues.

    For Mr. Thapa, this body is central to shaping the world’s development agenda and ensuring that no one is left behind.  

    “ECOSOC is our place. It needs dedication, participation and active engagement of all UN membership and stakeholders,” he said.  

    Five ways to deliver better

    While “delivering better” will be the motto of Mr. Thapa’s presidency, he outlined five specific areas upon which he and the Council will focus in the coming year.

    With over 735 million people worldwide experiencing hunger, his first priority area is transforming agriculture to strengthen rural resilience and end hunger.  

    Digital entrepreneurship and youth engagement are tied to this — and are his second priority area. He noted the “youth bulge” in many developing countries which he said will be a powerful demographic asset if it can be taken advantage of.  

    Like ECOSOC presidents before him, his third priority area deals with climate action and resilience. This time, however, he would like ECOSOC to focus specifically on glacier lakes and floods.  

    His final two priority areas are reforming the international financial architecture so that it is more inclusive and commemorating the 80th anniversary of ECOSOC.  

    Mr. Thapa noted that he and ECOSOC’s membership will be working to achieve these challenges in the midst of multiple, interlinking crises including accelerating climate change, rising geopolitical tensions and decreasing trust in the multilateral system.  

    “These challenges are systemic and interconnected. They demand integrated, inclusive and forward-looking responses,” Mr. Thapa said.  

    Fix, repair, mend

    Before Mr. Thapa’s remarks, Bob Rae, the outgoing president of ECOSOC and Canada’s Ambassador to the UN, reflected on his tenure. He acknowledged that the world is currently in a time of great hardship and genuine anguish.  

    But he said that it must be the job of ECOSOC — and UN Member States more broadly — to not only give voice to this anguish and hardship but to actually find solutions for it as well.  

    “We hear a lot in the UN discourse about how things are broken, how things have fallen apart, how things are unhinged … But our job is to fix, it’s to repair, it’s to mend, it’s to allow things to heal, it’s to make change happen,” Mr. Rae said.  

    Both Mr. Thapa and Mr. Rae affirmed that multilateralism can work and that ECOSOC should play a unique role in rewriting the narrative surrounding international cooperation.  

    “We must reaffirm our collective belief in the power of multilateralism — not as an abstract ideal, but as a pragmatic tool for delivering better outcomes for all,” Mr. Thapa said.  

    MIL OSI United Nations News –

  • MIL-OSI Economics: Services trade growth slows in first quarter of 2025

    Source: World Trade Organization

    Services exports in Europe and North America increased by only 3% year-on-year in the first quarter of 2025, down from 8% and 11% respectively in the first quarter of 2024. In contrast, strong growth was sustained in Asia at 9%.

    The overall slowdown in services trade was mainly due to “Other commercial services,” a category that encompasses a wide variety of mostly digitally deliverable services ranging from financial to professional services (Chart 1). In 2024, “Other commercial services” accounted for some 60% of global services trade, with Europe contributing 40% of those exports (Chart 2).

    Chart 1: Commercial services trade growth by main sector, 2024Q1-2025Q1
    Year-on-year % change

    Note: Services trade measured as exports.
    Source: WTO-UNCTAD estimates.

    Chart 2: Structure of world exports of commercial services, 2024
    % shares

    Source: WTO-UNCTAD estimates.

    Chart 3 shows a deceleration across selected subsectors of “Other commercial services” in the first quarter of 2025 compared with the same period of 2024. Growth in “Other business services,” covering various professional, technical and trade-related services, as well as research and development services, moderated. The United States posted a subdued 4% year-on-year increase in “Other business services” following an 8% expansion in the same period of 2024. Exports by the European Union remained flat in US dollar terms, although they rose by 4% when measured in euros.

    Financial services exports grew by only 3% year-on-year in the first quarter of 2025, reflecting reduced investment activity amid increased global economic uncertainty. The sector was also affected by exchange rate movements, which dampened US dollar-denominated growth. Exports from both the European Union and the United States rose just 2% year-on-year while Switzerland’s exports fell by 3%. The United Kingdom, on the contrary, posted a robust 10% year-on-year increase sustained by double digit growth in exports to the United States (+13%).

    Intellectual property related services expanded by 4% year-on-year in the first three months of 2025 in comparison with a 7% growth in the same quarter of 2024. Global trade in IP-related services remains highly concentrated, with the European Union and the United States accounting for nearly 70% of exports in 2024. EU exports, measured in US dollars, rose by just 3% year-on-year, held back by exchange rate volatility, despite stronger underlying growth of 6% in euro terms.

    Global construction exports fell by 15% year-on-year in the first quarter of 2025, reversing part of the strong 25% growth recorded during the same period in 2024. The decline reflects weaker performance across several key economies, including China (-25%), which alone accounted for over 28% of global construction exports in 2024, the Republic of Korea (-15%), and the European Union (-6%). The downturn in the first quarter likely reflects delayed investment due to uncertainty and rising costs.

    Computer services exports were only marginally affected by the broader slowdown, as strong global demand for artificial intelligence (AI), digital transformation, and cybersecurity solutions continued to drive growth. This momentum is expected to persist, supported by ongoing business adaptation to new technologies and rising consumer preferences for digital services. During the period, India’s computer services exports grew by 13%, while Ireland recorded a 9% increase.

    Chart 3: Other commercial services exports by selected subsector, 2024 and Q1 2025
    Year-on-year % change

    Note: Sectors are ranked according to their relative share in services trade in 2024.
    Source: WTO estimates for Q1 2025 and Q1 2024; WTO-UNCTAD estimates for 2024.

     As for the other main sectors of commercial services, global transport exports were up 3% year-on-year in the first quarter of 2025, following rapid growth especially in the third and fourth quarter of 2024 due to frontloading. Asia recorded the fastest growth, up 10%, driven by a 31% rise in China, while Singapore and the Republic of Korea posted modest gains of 2%. Payments for shipping services increased by 19% in South and Central America and the Caribbean, as demand for goods surged.

    Despite a difficult economic and geopolitical context, international travel expanded by 5% year-on-year in the first quarter of 2025. For the first time since the pandemic, international tourist arrivals were 3% above 2019 levels according to UN Tourism data. In Asia, travel receipts grew by 13%, driven by China (+96%), Viet Nam (+33%), Japan (+25%) and Thailand (+18%) as tourism continues to recover in the region. By contrast, North America’s travel receipts fell by 1%.

    Services trade performance varied across major traders in the first five months of 2025 according to available monthly statistics. Double digit exports growth was recorded in Asian economies such as China (+13%, through June), India (+12%) and Japan (+11%). In North America, the United States and Canada saw diverging trends. US service exports rose by 5%, while Canada recorded a 6% decline. The EU’s service exports to non-member countries rose by 3%, while imports from outside the Union grew more sharply, increasing by 6%. The United Kingdom recorded marked growth, with exports up 9% and imports rising by 13%.

    Chart 4: Services export and import growth of selected economies, January-May 2025
    Year-on-year % change

    Note: Statistics for Brazil, China and Pakistan refer to January-June.
    Source : National sources and Eurostat.

    Quarterly statistics are estimates as of time of publication and subject to frequent revisions. They are available for download at WTO Stats, as well as monthly statistics. Annual services trade data and related visualizations can be accessed at WTO | Statistics — Global Services Trade Data Hub and WTO | World Trade Statistics 2024.

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    MIL OSI Economics –

  • MIL-OSI Canada: Lancement du Mois du patrimoine acadien

    Source: Government of Canada regional news

    À partir de la gauche, Kyle MacQuarrie, député d’Inverness; Allister Surette, sénateur; Tim Houston, premier ministre; Colton LeBlanc, ministre des Affaires acadiennes et de la Francophonie; Jules Chiasson, directeur général de la Fédération acadienne de la Nouvelle-Écosse; et Réjean Aucoin, sénateur. (Province de la Nouvelle-Écosse)

    MIL OSI Canada News –

  • MIL-OSI Canada: Acadian Heritage Month Launch

    Source: Government of Canada regional news

    From left, Kyle MacQuarrie, MLA for Inverness; Sen. Allister Surette; Premier Tim Houston; Colton LeBlanc, Minister of Acadian Affairs and Francophonie; and Jules Chiasson, Executive Director of the Fédération acadienne de la Nouvelle-Écosse; and Sen. Réjean Aucoin (Province of Nova Scotia)

    MIL OSI Canada News –

  • MIL-OSI Canada: Long-term repairs set to begin on North Beach rockslide

    A major step toward long-term stabilization of the slope beside Highway 97 between Callan Road and Okanagan Lake Provincial Park is underway, ensuring the reliability of the highway for Okanagan residents and visitors.

    A $23.2-million contract has been awarded to Emil Anderson Construction Inc. to complete the next phase of work. Construction is expected to begin in fall 2025 and finish in spring 2027.

    Long-term stabilization work will return the highway to its original four-lane configuration. This includes building a retaining wall and catchment area at the base of the slope, along with a concrete wall next to the highway for added reinforcement. Additional rock anchors will also be installed to secure the slope, followed by repairs to the road’s surface and drainage improvements.

    This work will provide lasting support for the hillside and help prevent rockfall impacts, ensuring the ongoing safety and reliability of this key transportation corridor.

    This investment builds on extensive geotechnical work following the rockslide in August 2023, which deposited significant rock and debris onto the highway and forced an immediate closure.

    Between October 2023 and June 2024, crews removed unstable rock through controlled blasting, easing pressure on the slope. By fall 2024, more than 100 rock anchors were installed as part of Phase 1 of stabilization efforts.

    Any impacts to Highway 97 traffic during construction will be communicated via traffic advisories and posted to Drive BC: https://www.drivebc.ca/

    Drivers are asked to use caution through the area, obey posted speed limits and follow the directions of traffic-control personnel.

    MIL OSI Canada News –

  • MIL-OSI Canada: One Arrow First Nation and Canada reach farming benefits settlement

    Source: Government of Canada News (2)

    July 31, 2025 — One Arrow First Nation, Treaty 6 Territory, Saskatchewan — Crown-Indigenous Relations and Northern Affairs Canada and One Arrow First Nation

    Today, Chief Janine Baldhead of One Arrow First Nation and the Honourable Rebecca Alty, Minister of Crown-Indigenous Relations, announced a settlement agreement resolving the Nation’s Agricultural Benefits claim, also known as a Cows and Plows settlement. 

    Under this agreement, the Government of Canada will pay $124 million in compensation to One Arrow First Nation for failing to fulfill its Treaty 6 obligations to provide the Nation with farming tools, plows, crop seeds, livestock, and other supplies. 

    These agricultural benefits were meant to facilitate One Arrow First Nation’s transition to a strong, self-sustaining community through farming. However, as a result of Canada’s failure to meet its Treaty obligations, the Nation did not have the equipment it needed to support its members. 

    Settling specific claims is an important part of Canada’s ongoing efforts to advance reconciliation by rebuilding trust and strengthening its relationships with First Nations. By providing fair compensation in recognition of unkept promises, Canada is taking responsibility and working toward a better future. This work is guided by the United Nations Declaration on the Rights of Indigenous Peoples Act.

    MIL OSI Canada News –

  • MIL-OSI Canada: Joint Statement on Iranian State Threat Activity in Europe and North America

    Source: Government of Canada News

    July 31, 2025 – Ottawa, Ontario – Global Affairs Canada

    The following statement is released by the governments of Albania, Austria, Belgium, Canada, Czechia, Denmark, Finland, France, Germany, the Netherlands, Spain, Sweden, the United Kingdom, and the United States:

    “Albania, Austria, Belgium, Canada, Czechia, Denmark, Finland, France, Germany, the Netherlands, Spain, Sweden, the United Kingdom and the United States condemn the growing number of state threats from Iranian intelligence services in our respective territories.

    “We are united in our opposition to the attempts of Iranian intelligence services to kill, kidnap, and harass people in Europe and North America in clear violation of our sovereignty. These Services are increasingly collaborating with international criminal organisations to target journalists, dissidents, Jewish citizens, and current and former officials in Europe and North America. This is unacceptable.   

    “We consider these types of attacks, regardless of the target, as violations of our sovereignty. We are committed to working together to prevent these actions from happening and we call on the Iranian authorities to immediately put an end to such illegal activities in our respective territories.”

    MIL OSI Canada News –

  • MIL-OSI: Vancity reports strong Q2 results, early evidence of transformation to Vancity 2.0

    Source: GlobeNewswire (MIL-OSI)

    TERRITORIES OF MUSQUEAM, SQUAMISH AND TSLEIL-WAUTUTH NATIONS and VANCOUVER, British Columbia, July 31, 2025 (GLOBE NEWSWIRE) — Vancity delivered strong financial results at the end of the second quarter that ended on June 30, 2025, highlighting growth across key areas for the credit union. This solid performance reveals wins for a new strategy aimed at growing with impact and delivering exceptional member experience. 

    Core revenues climbed to $307.5 million by June 30th, representing a 24% increase compared to 2024 and marking continued growth in revenues and profitability in 2025. This includes $157.6 million added in the second quarter. Income before tax and distributions grew to $46.6 million year-to-date, with the second quarter adding $25.1 million. Member deposits increased by $97.8 million — $63.5 million in the second quarter — with a notable increase in both retail and commercial demand deposits, while net retail mortgage lending jumped by $387.2 million since the beginning of this year. This improving financial performance means more resources available to support people in these uncertain times, as 30% of Vancity’s net profits go back to members and communities.

    “Vancity 2.0 is our vision to be an industry leader delivering outstanding member experience, while staying fiercely committed to making a big difference in this world,” said Wellington Holbrook, President and CEO of Vancity. “These results are telling us our strategy is working — we’re restoring profitability after a challenging year in 2024 and building a stronger credit union to be an innovative leader for the future.” 

    Vancity’s work has also yielded real, positive impacts in 2025 on vital issues facing members and communities. Year-to-date growth in net retail mortgages supported more than 3000 families and individuals with their home-ownership needs, including 452 loans to help first-time home buyers enter the housing market. At the same time, in the first half of this year alone Vancity financed 900 units of affordable housing — that’s 900 more families who will be able to access a home they can afford.

    Vancity has also been focused on building a more resilient local economy in light of economic uncertainty and trade concerns. Reflecting this commitment, Vancity provided $689.7 million in financing for local businesses in 2025, as of June 30th. This includes support extended to 188 women or non-binary small-business owners with loans through its women’s entrepreneurship program in Q2, bringing the total to 320 so far this year. A partnership with WeBC that provides financing and wrap-around supports for women and non-binary entrepreneurs, this program means more people have fairer access to financing while also supporting the diversity of Canada’s economy at a critical time.

    “For Vancity, results aren’t just about numbers — they’re about people, “said Holbrook. “Strong financial results mean we can do more — fund more units of affordable housing, extend more support for the Indigenous economy, drive more investment back into communities, and support more entrepreneurs building local small businesses that make our economy more resilient. At a time when people need support more than ever, we’re here for them.”  

    This marks the first time Vancity has released its quarterly results, a move the credit union will replicate going forward as it continues its transformation.

    Amidst this strong performance, Vancity remains focused on connecting with members and communities in neighbourhoods across its service areas and beyond. In the second quarter, Vancity sponsored major events like the Vancouver Sun Run and Vancity Innovation House, a partnership with Frontier Collective during Web Summit Vancouver. Vancity branches participated in local community events across the lower mainland and on Vancouver Island, as well as participated in significant community celebrations like Surrey Vaisakhi, Vancouver Vaisakhi, Qmunity Pride Breakfast, and more.

    Vancity is also doubling down on serving and supporting members through uncertain times and re-investing in the experience of members as a central priority — including investing in a new digital platform expected to launch by the end of this year. This comes on the heels of enhancements in technology in 2024 to better serve members, from new products to improvements to existing services, as well as operational efficiencies to create smoother, member-centred experiences for everyone Vancity serves.

    About Vancity
    Vancity is a values-based financial co-operative serving the needs of its 570,000 member-owners and their communities, with offices and more than 50 branches located in Metro Vancouver, the Fraser Valley, Victoria, Squamish and Alert Bay, within the territories of the Coast Salish and Kwakwaka’wakw people. With $36 billion in assets plus assets under administration, Vancity is one of Canada’s largest credit unions. Vancity uses its assets to help improve the financial well-being of its members while at the same time helping to develop healthy communities that are socially, economically and environmentally sustainable.

    Media Relations | Vancity
    mediarelations@vancity.com
    T: 778-837-0394

    Forward-Looking Statements
    This news release contains forward-looking statements that reflect Vancity’s current expectations regarding future events, performance, and results. Those statements are based on assumptions, estimates, and projections that management considers reasonable in light of historical trends, current conditions, and expected future developments. However, forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond Vancity’s control, including but not limited to changes in economic and geopolitical conditions, interest rates, regulatory requirements, and competitive factors. Actual results may differ from those expressed or implied in these statements. Vancity does not undertake any obligation to update or revise forward-looking statements, except as required by applicable laws. Readers are cautioned not to place undue reliance on these forward-looking statements. 

    The MIL Network –

  • MIL-OSI Canada: British Columbia harvester fined over a million dollars and receives a six-year jail sentence for illegal fishing and sale of sea cucumber

    Source: Government of Canada News (2)

    July 31, 2025                                                                

    Nanaimo, BC – Fisheries and Oceans Canada (DFO) is committed to the enforcement of the Fisheries Act and is working with partners to strengthen surveillance, monitoring, and prosecution of serious fisheries violations.

    The Honourable Justice Crerar of the British Columbia Supreme Court has sentenced Scott Steer, a repeat offender with a history of serious violations under the Fisheries Act, for illegal sea cucumber harvesting and sale. The sentencing follows Mr. Steer’s conviction on January 8, 2025, on multiple counts related to the unlawful harvest and sale of sea cucumbers between July 2019 and June 2020. 

    Penalties include:

    • a six-year jail sentence for Scott Steer to be served consecutively;
    • a global fine of $1,105,718 dollars ($1,005,718 and an additional $100,000 fine for the corporate offenders) for which Mr. and Mrs. Steer are jointly liable which is to be paid by monthly installment over 20 years; and
    • forfeiture of all items seized during the investigation, other than Mrs. Steer’s two phones, including two vessels, two vehicles, a trailer and many items related to fishing.

    Mr. Steer has an extensive history of fisheries violations that have resulted in numerous convictions, prohibitions, fines, and jail sentences. He had previously been prohibited by the Courts in 2016 from possessing or acquiring fishing gear, being onboard any fishing vessel, or applying for a fishing license until 2038. Despite these prohibitions, he actively orchestrated an illegal fishing operation, acquiring and outfitting vessels, recruiting crew, forging DFO records, and selling unlawfully harvested sea cucumbers.

    The court found that Mr. Steer’s illegal activities resulted in the sale of over 87,000 pounds of sea cucumbers, generating more than $1 million in revenue through fraudulent transactions with a Vancouver-based processing company. Justice Crerar determined that 1215419 B.C. Ltd. was a sham corporation used to circumvent Mr. Steer’s prohibitions and court orders, and that Mrs. Steer was fully involved in the scheme.

    Fisheries and Oceans Canada reminds the public that illegal fishing threatens the sustainability of Canada’s fisheries and urges anyone with information on potential violations to report them to DFO’s toll-free violation reporting line at 1-800-465-4336 or by email at DFO.ORR-ONS.MPO@dfo-mpo.gc.ca.

    MIL OSI Canada News –

  • MIL-OSI: NCS Multistage Holdings, Inc. Announces Second Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    Second Quarter Results

    • Total revenues of $36.5 million, a 23% year-over-year improvement
    • Net income of $0.9 million and diluted earnings per share of $0.34, which includes a positive impact of $1.4 million related to the release of our deferred tax valuation allowance in Canada
    • Adjusted EBITDA of $2.2 million, a $1.3 million year-over-year improvement   
    • $25.4 million in cash and $7.7 million of total debt as of June 30, 2025

    HOUSTON, July 31, 2025 (GLOBE NEWSWIRE) — NCS Multistage Holdings, Inc. (Nasdaq: NCSM) (the “Company,” “NCS,” “we” or “us”), a leading provider of highly engineered products and support services that facilitate the optimization of oil and natural gas well construction, well completions and field development strategies, today announced its results for the quarter ended June 30, 2025.

    Review and Outlook

    NCS’s Chief Executive Officer, Ryan Hummer commented, “Our team at NCS has continued to enable strong operational and financial performance in an industry and market environment marked by uncertainty. Our revenue and Adjusted EBITDA for the second quarter exceeded the high end of the expectations we provided in our last earnings call and our year-over-year revenue improvement for the quarter of 23% outperformed industry activity levels, demonstrating the value we bring to our customers.

    Furthermore, our revenue and Adjusted EBITDA for the first six months of 2025 have improved by $12.9 million, or 18%, and $3.4 million, or 49%, respectively, as compared to 2024, as we continue to benefit from our core strategies of building upon our leading market positions, capitalizing on international and offshore opportunities and commercializing innovative solutions to complex customer challenges.

    We have maintained our strong balance sheet, ending the second quarter with over $25 million in cash and over $17 million in availability under our undrawn credit facility and only $8 million in debt, comprised entirely of capital leases.

    We’re also excited to announce today’s acquisition of Reservoir Metrics, LLC, and its related entities (“ResMetrics”). ResMetrics, a leader in reservoir analysis utilizing chemical tracer technology, is a profitable and rapidly growing business serving a high-quality customer base in the U.S. and internationally. For the trailing twelve months ended June 30, 2025, ResMetrics’ unaudited revenue was over $10 million with an EBITDA margin of over 30%. We believe that ResMetrics’ business is highly complementary with NCS’s tracer diagnostics service line, and we look forward to working with the ResMetrics team to deliver valuable and actionable reservoir insights to our customers. This all-cash transaction represents a strategic fit for NCS operationally, a strategic use of our balance sheet, and adds to our talented team.

    This has been a strong start to 2025 for NCS and we remain cautiously optimistic about the second half of the year. That optimism is tempered by market conditions that have continued to deteriorate, with continued U.S. rig count declines, a slower than normal rig count recovery in Canada following spring break-up, the potential for an oversupplied oil market in late 2025 as announced OPEC+ oil supply increases materialize, and ongoing uncertainties related to tariffs and trade.

    I want to extend my continued appreciation to the outstanding teams at NCS and Repeat Precision and welcome the ResMetrics team to NCS. Our results, and the opportunities ahead, reflect the vision, ability and commitment of our people and our aligned pursuit of NCS’s strategic priorities. We have the right people, the right technology, and the right strategies in place to deliver tangible benefits to our customers, develop industry solutions, and create shareholder value.”

    Financial Review

    Total revenues were $36.5 million for the quarter ended June 30, 2025 compared to $29.7 million for the second quarter of 2024. Revenue growth was driven primarily by increased fracturing systems activity and frac plug sales in Canada and the United States. The increase for Canada occurred despite a decline in Canadian rig counts during 2025, reflecting more activity with customers that remained active during spring break-up. Our international revenues decreased primarily due to reduced tracer diagnostics activity in the Middle East, partially offset by higher sales of well construction products in the Middle East and fracturing systems equipment in the North Sea.

    Compared to the first quarter of 2025, total revenues decreased by 27%, primarily due to a decrease in Canada of 52%, attributable to the normal seasonal decline associated with spring break-up, partially offset by an increase of 67% in international revenues and a 45% increase in U.S. revenues.

    Gross profit was $12.3 million, or a gross margin of 34%, for the second quarter of 2025, compared to $11.3 million, or a gross margin of 38%, for the second quarter of 2024. Gross margin for 2025 declined, reflecting the mix of products sold and services provided during the respective periods. Adjusted gross profit, which we define as total revenues less total cost of sales, exclusive of depreciation and amortization (“DD&A”), was $13.0 million, or an adjusted gross margin of 36%, for the second quarter of 2025, compared to $12.0 million, or 40%, for the second quarter of 2024.

    Selling, general and administrative (“SG&A”) expenses totaled $13.6 million for the second quarter of 2025, a decrease of $1.2 million compared to the same period in 2024, with a decrease in professional fees, lower payroll and employee benefit expenses, and a decrease in research and development expense, partially offset by higher share-based compensation expense attributable to cash settled awards remeasured at the balance sheet date based on the price of our common stock.

    Other income was $1.6 million for the second quarter of 2025 compared to $2.2 million for the second quarter of 2024. The decline in other income reflects a reduction in the amount attributable to the technical services and assistance agreement with our local partner in Oman, as the program ended in November 2024, with no contribution associated with this agreement in the second quarter of 2025. In addition, there was a year-over-year decrease in royalty income earned from licensees for these periods, as the second quarter of 2024 included an initial payment from a new licensee reflecting both current and certain historical volumes.

    Income tax benefit was $1.0 million for the second quarter of 2025 compared to an expense of $0.3 million for the second quarter of 2024. As of June 30, 2025, we reversed a portion of the valuation allowance previously recorded against the deferred tax assets of our Canadian operating subsidiary due to sustained improvements in operating results, including a return to profitability and forecasts of future taxable income that are sufficient to realize the remaining deferred tax assets. The reversal of the valuation allowance resulted in a deferred income tax benefit of $1.4 million during the period ended June 30, 2025. 

    Net income was $0.9 million, or $0.34 per diluted share, for the quarter ended June 30, 2025 compared to a net loss of $(3.1) million, or $(1.21) per share for the quarter ended June 30, 2024. 

    Adjusted EBITDA was $2.2 million for the quarter ended June 30, 2025, an increase of $1.3 million compared to the same period a year ago. This improvement is primarily the result of an increase in revenues and lower SG&A expenses. Adjusted EBITDA margin of 6% for the quarter ended June 30, 2025, compared to 3% for the same period a year ago. 

    Cash flow from operating activities for the six months ended June 30, 2025 was a source of cash of $1.9 million, a $2.2 million decrease compared to the same period in 2024. For the six months ended June 30, 2025, free cash flow less distributions to non-controlling interest was a source of cash of $0.5 million compared to $3.2 million for the same period in 2024. The overall change in free cash flow was largely attributed to our change in net working capital including payment of incentive bonuses and cash-settled awards in the first quarter of 2025 and an increase in the amount distributed to our non-controlling interest in 2025, partially offset by an increase in net income in 2025.

    Liquidity and Capital Expenditures

    As of June 30, 2025, NCS had $25.4 million in cash, $7.7 million in total indebtedness related to finance lease obligations, and a borrowing base under the undrawn asset-based revolving credit facility (“ABL Facility”) of $17.2 million. Our working capital, defined as current assets minus current liabilities, was $87.2 million and $80.2 million as of June 30, 2025 and December 31, 2024, respectively.

    Net working capital, calculated as working capital, less cash and excluding the current maturities of long-term debt, was $64.0 million and $56.4 million as of June 30, 2025 and December 31, 2024, respectively. The increase in net working capital was primarily attributable to an increase in accounts receivable and inventory and a decrease in accrued expenses and other current liabilities due in part to payment of our 2024 incentive bonus and cash-settled awards in the first quarter of 2025, partially offset by an increase in accounts payable. 

    NCS incurred capital expenditures, net of proceeds from the sale of property and equipment, of $0.5 million and $0.4 million for the six months ended June 30, 2025 and 2024, respectively.

    EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted EBITDA Less Share-Based Compensation, Adjusted Gross Profit, Adjusted Gross Margin, Free Cash Flow, Free Cash Flow Less Distributions to Non-Controlling Interest and Net Working Capital are non-GAAP financial measures. For an explanation of these measures and a reconciliation, refer to “Non-GAAP Financial Measures” below.

    Strategic Acquisition of Reservoir Metrics, LLC

    On July 31, 2025, we acquired 100% of the equity interests of ResMetrics, a provider of tracer diagnostics services, for $5.9 million, on a cash-free, debt-free basis, in cash and assumed debt, subject to a working capital adjustment, with an additional earn-out of up to $1.3 million to be paid in early 2026, depending solely on changes in international trade tariff rates for certain chemical imports during 2025. We believe the purchase of ResMetrics will further expand and complement our existing tracer diagnostics offerings.

    Conference Call

    The Company will host a conference call to discuss its second quarter 2025 results and latest earnings guidance on Friday, August 1, 2025 at 7:30 a.m. Central Time (8:30 a.m. Eastern Time). The conference call will be available via a live audio webcast. Participants who wish to ask questions may register for the call here to receive the dial-in numbers and unique PIN. If you wish to join the conference call but do not plan to ask questions, you may join the listen-only webcast here. The live webcast can also be accessed by visiting the Investors section of the Company’s website at ir.ncsmultistage.com. It is recommended that participants join at least 10 minutes prior to the event start.

    The replay will be available in the Investors section of the Company’s website shortly after the conclusion of the call and will remain available for approximately seven days.

    About NCS Multistage Holdings, Inc.

    NCS Multistage Holdings, Inc. is a leading provider of highly engineered products and support services that facilitate the optimization of oil and natural gas well construction, well completions and field development strategies. NCS provides products and services primarily to exploration and production companies for use in onshore and offshore wells, predominantly wells that have been drilled with horizontal laterals in both unconventional and conventional oil and natural gas formations. NCS’s products and services are utilized in oil and natural gas basins throughout North America and in selected international markets, including the North Sea, the Middle East, Argentina and China. NCS’s common stock is traded on the Nasdaq Capital Market under the symbol “NCSM.” Additional information is available on the website, www.ncsmultistage.com.

    Forward Looking Statements

    This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as “anticipates,” “intends,” “plans,” “seeks,” “believes,” “estimates,” “expects” and similar references to future periods, or by the inclusion of forecasts or projections. Examples of forward-looking statements include, but are not limited to, statements we make regarding the outlook for our future business and financial performance. Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, our actual results may differ materially from those contemplated by the forward-looking statements. Important factors that could cause our actual results to differ materially from those in the forward-looking statements include regional, national or global political, economic, business, competitive, market and regulatory conditions and the following: declines in the level of oil and natural gas exploration and production activity in Canada, the United States and internationally; oil and natural gas price fluctuations; significant competition for our products and services that results in pricing pressures, reduced sales, or reduced market share; inability to successfully implement our strategy of increasing sales of products and services into the U.S. and international markets; loss of significant customers; losses and liabilities from uninsured or underinsured business activities and litigation; change in trade policy, including the impact of tariffs; our failure to identify and consummate potential acquisitions; the financial health of our customers including their ability to pay for products or services provided; our inability to integrate or realize the expected benefits from acquisitions; our inability to achieve suitable price increases to offset the impacts of cost inflation; loss of any of our key suppliers or significant disruptions negatively impacting our supply chain; risks in attracting and retaining qualified employees and key personnel; risks resulting from the operations of our joint venture arrangement; currency exchange rate fluctuations; impact of severe weather conditions; our inability to accurately predict customer demand, which may result in us holding excess or obsolete inventory; failure to comply with or changes to federal, state and local and non-U.S. laws and other regulations, including tax policies, anti-corruption and environmental regulations, guidelines and regulations for the use of explosives; impairment in the carrying value of long-lived assets including goodwill; system interruptions or failures, including complications with our enterprise resource planning system, cybersecurity breaches, identity theft or other disruptions that could compromise our information; our inability to successfully develop and implement new technologies, products and services that align with the needs of our customers, including addressing the shift to more non-traditional energy markets as part of the energy transition and the adoption of artificial intelligence and machine learning; our inability to protect and maintain critical intellectual property assets, the inability to protect our current royalty income, or the losses and liabilities from adverse decisions in intellectual property disputes; loss of, or interruption to, our information and computer systems; our failure to establish and maintain effective internal control over financial reporting; restrictions on the availability of our customers to obtain water essential to the drilling and hydraulic fracturing processes; changes in legislation or regulation governing the oil and natural gas industry, including restrictions on emissions of greenhouse gases; our inability to meet regulatory requirements for use of certain chemicals by our tracer diagnostics business; the reduction in our ABL Facility borrowing base or our inability to comply with the covenants in our debt agreements; and our inability to obtain sufficient liquidity on reasonable terms, or at all and other factors discussed or referenced in our filings made from time to time with the Securities and Exchange Commission. Any forward-looking statement made by us in this press release speaks only as of the date on which we make it. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

    Contact

    Mike Morrison
    Chief Financial Officer and Treasurer
    (281) 453-2222
    IR@ncsmultistage.com 

    NCS MULTISTAGE HOLDINGS, INC.
    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
    (In thousands, except per share data)
    (Unaudited)
     
        Three Months Ended     Six Months Ended  
        June 30,     June 30,  
        2025     2024     2025     2024  
    Revenues                                
    Product sales   $ 27,776     $ 19,022     $ 62,842     $ 50,780  
    Services     8,678       10,668       23,617       22,768  
    Total revenues     36,454       29,690       86,459       73,548  
    Cost of sales                                
    Cost of product sales, exclusive of depreciation and amortization expense shown below     18,214       12,209       38,566       31,901  
    Cost of services, exclusive of depreciation and amortization expense shown below     5,242       5,510       13,040       12,105  
    Total cost of sales, exclusive of depreciation and amortization expense shown below     23,456       17,719       51,606       44,006  
    Selling, general and administrative expenses     13,626       14,820       29,821       28,650  
    Depreciation     1,235       1,134       2,439       2,207  
    Amortization     167       167       334       334  
    (Loss) income from operations     (2,030 )     (4,150 )     2,259       (1,649 )
    Other income (expense)                                
    Interest expense, net     (68 )     (115 )     (110 )     (215 )
    Other income, net     1,563       2,203       2,446       3,340  
    Foreign currency exchange gain (loss), net     1,201       (507 )     1,198       (1,005 )
    Total other income     2,696       1,581       3,534       2,120  
    Income (loss) before income tax     666       (2,569 )     5,793       471  
    Income tax (benefit) expense     (1,032 )     270       (359 )     757  
    Net income (loss)     1,698       (2,839 )     6,152       (286 )
    Net income attributable to non-controlling interest     774       256       1,172       739  
    Net income (loss) attributable to NCS Multistage Holdings, Inc.   $ 924     $ (3,095 )   $ 4,980     $ (1,025 )
    Earnings (loss) per common share                                
    Basic earnings (loss) per common share attributable to NCS Multistage Holdings, Inc.   $ 0.36     $ (1.21 )   $ 1.93     $ (0.41 )
    Diluted earnings (loss) per common share attributable to NCS Multistage Holdings, Inc.   $ 0.34     $ (1.21 )   $ 1.84     $ (0.41 )
    Weighted average common shares outstanding                                
    Basic     2,594       2,548       2,581       2,528  
    Diluted     2,734       2,548       2,704       2,528  
     
    NCS MULTISTAGE HOLDINGS, INC.
    CONDENSED CONSOLIDATED BALANCE SHEETS
    (In thousands, except share data)
    (Unaudited)
     
        June 30,     December 31,  
        2025     2024  
    Assets                
    Current assets                
    Cash and cash equivalents   $ 25,372     $ 25,880  
    Accounts receivable—trade, net     34,216       31,513  
    Inventories, net     43,510       40,971  
    Prepaid expenses and other current assets     2,707       2,063  
    Other current receivables     5,165       5,143  
    Total current assets     110,970       105,570  
    Noncurrent assets                
    Property and equipment, net     20,470       21,283  
    Goodwill     15,222       15,222  
    Identifiable intangibles, net     3,356       3,690  
    Operating lease assets     5,468       5,911  
    Deposits and other assets     622       712  
    Deferred income taxes, net     1,869       424  
    Total noncurrent assets     47,007       47,242  
    Total assets   $ 157,977     $ 152,812  
    Liabilities and Stockholders’ Equity                
    Current liabilities                
    Accounts payable—trade   $ 9,997     $ 8,970  
    Accrued expenses     6,803       8,351  
    Income taxes payable     790       683  
    Operating lease liabilities     1,685       1,602  
    Current maturities of long-term debt     2,200       2,141  
    Other current liabilities     2,331       3,672  
    Total current liabilities     23,806       25,419  
    Noncurrent liabilities                
    Long-term debt, less current maturities     5,462       6,001  
    Operating lease liabilities, long-term     4,338       4,891  
    Other long-term liabilities     206       206  
    Deferred income taxes, net     186       186  
    Total noncurrent liabilities     10,192       11,284  
    Total liabilities     33,998       36,703  
    Commitments and contingencies                
    Stockholders’ equity                
    Preferred stock, $0.01 par value, 10,000,000 shares authorized, no shares issued and outstanding at June 30, 2025 and December 31, 2024     —       —  
    Common stock, $0.01 par value, 11,250,000 shares authorized, 2,607,362 shares issued and 2,540,849 shares outstanding at June 30, 2025 and 2,563,979 shares issued and 2,507,430 shares outstanding at December 31, 2024     26       26  
    Additional paid-in capital     448,582       447,384  
    Accumulated other comprehensive loss     (85,916 )     (87,604 )
    Retained deficit     (254,044 )     (259,024 )
    Treasury stock, at cost, 66,513 shares at June 30, 2025 and 56,549 shares at December 31, 2024     (2,211 )     (1,943 )
    Total stockholders’ equity     106,437       98,839  
    Non-controlling interest     17,542       17,270  
    Total equity     123,979       116,109  
    Total liabilities and stockholders’ equity   $ 157,977     $ 152,812  
     
    NCS MULTISTAGE HOLDINGS, INC.
    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
    (In thousands)
    (Unaudited)
      Six Months Ended  
      June 30,  
      2025   2024  
    Cash flows from operating activities            
    Net income (loss) $ 6,152   $ (286 )
    Adjustments to reconcile net income (loss) to net cash provided by operating activities:            
    Depreciation and amortization   2,773     2,541  
    Amortization of deferred loan costs   104     103  
    Share-based compensation   2,837     2,062  
    Provision for inventory obsolescence   191     679  
    Deferred income tax (benefit) expense   (1,398 )   21  
    Gain on sale of property and equipment   (475 )   (340 )
    Provision for (recovery of) credit losses   19     (5 )
    Net foreign currency unrealized (gain) loss   (1,854 )   956  
    Proceeds from note receivable   —     61  
    Changes in operating assets and liabilities:            
    Accounts receivable—trade   (1,827 )   (1,024 )
    Inventories, net   (1,476 )   (1,501 )
    Prepaid expenses and other assets   972     (619 )
    Accounts payable—trade   1,719     1,353  
    Accrued expenses   (1,680 )   1,761  
    Other liabilities   (4,101 )   (2,092 )
    Income taxes receivable/payable   (80 )   429  
    Net cash provided by operating activities   1,876     4,099  
    Cash flows from investing activities            
    Purchases of property and equipment   (745 )   (633 )
    Purchase and development of software and technology   —     (53 )
    Proceeds from sales of property and equipment   271     293  
    Net cash used in investing activities   (474 )   (393 )
    Cash flows from financing activities            
    Payments on finance leases   (1,072 )   (932 )
    Line of credit borrowings   2,338     2,974  
    Payments of line of credit borrowings   (2,338 )   (2,974 )
    Treasury shares withheld   (268 )   (237 )
    Distribution to noncontrolling interest   (900 )   (500 )
    Net cash used in financing activities   (2,240 )   (1,669 )
    Effect of exchange rate changes on cash and cash equivalents   330     (143 )
    Net change in cash and cash equivalents   (508 )   1,894  
    Cash and cash equivalents beginning of period   25,880     16,720  
    Cash and cash equivalents end of period $ 25,372   $ 18,614  
    Noncash investing and financing activities            
    Assets obtained in exchange for new finance lease liabilities $ 723   $ 1,821  
    Assets obtained in exchange for new operating lease liabilities $ 247   $ —  
                 
    NCS MULTISTAGE HOLDINGS, INC.
    REVENUES BY GEOGRAPHIC AREA
    (In thousands)
    (Unaudited)
     
        Three Months Ended     Six Months Ended  
        June 30,     June 30,  
        2025     2024     2025     2024  
    United States                                
    Product sales   $ 11,930     $ 8,550     $ 18,797     $ 16,317  
    Services     1,682       3,241       4,187       5,485  
    Total United States     13,612       11,791       22,984       21,802  
    Canada                                
    Product sales     13,021       8,263       39,864       30,938  
    Services     4,948       3,795       15,823       12,789  
    Total Canada     17,969       12,058       55,687       43,727  
    Other Countries                                
    Product sales     2,825       2,209       4,181       3,525  
    Services     2,048       3,632       3,607       4,494  
    Total other countries     4,873       5,841       7,788       8,019  
    Total                                
    Product sales     27,776       19,022       62,842       50,780  
    Services     8,678       10,668       23,617       22,768  
    Total revenues   $ 36,454     $ 29,690     $ 86,459     $ 73,548  
     

    NCS MULTISTAGE HOLDINGS, INC.
    RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL INFORMATION
    (In thousands, except per share data)
    (Unaudited)

    Non-GAAP Financial Measures 

    EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted EBITDA Less Share-Based Compensation, Adjusted Gross Profit, Adjusted Gross Margin, Free Cash Flow, Free Cash Flow Less Distributions to Non-Controlling Interest and Net Working Capital (our “non-GAAP financial measures”) are not defined under generally accepted accounting principles (“GAAP”), are not measures of net income (loss), income (loss) from operations, gross profit and gross margin (inclusive of DD&A), cash provided by (used in) operating activities, working capital or any other performance measure derived in accordance with GAAP, and are subject to important limitations. Our non-GAAP financial measures may not be comparable to similarly titled measures of other companies in our industry and are not measures of performance calculated in accordance with GAAP. Our non-GAAP financial measures have important limitations as analytical tools and you should not consider them in isolation or as substitutes for analysis of our financial performance as reported under GAAP, and they should not be considered as alternatives to net income (loss), income (loss) from operations, gross profit, gross margin, cash provided by (used in) operating activities, working capital or any other performance measures derived in accordance with GAAP as measures of operating performance or as alternatives to cash flow from operating activities as measures of our liquidity.

    However, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted EBITDA Less Share-Based Compensation, Adjusted Gross Profit, Adjusted Gross Margin, Free Cash Flow, Free Cash Flow Less Distributions to Non-Controlling Interest and Net Working Capital are key metrics that management uses to assess the period-to-period performance of our core business operations or metrics that enable investors to assess our performance from period to period relative to the performance of other companies that are not subject to such factors, or who may provide similar non-GAAP measures in their public disclosures.

    The tables below set forth reconciliations of our non-GAAP financial measures to the most directly comparable measures of financial performance calculated under GAAP:

    NET WORKING CAPITAL

    Net working capital is defined as total current assets, excluding cash and cash equivalents, minus total current liabilities, excluding current maturities of long-term debt. Net working capital excludes cash and cash equivalents and current maturities of long-term debt in order to evaluate the investments in working capital that we believe are required to support our business. We believe that net working capital is useful in analyzing the cash flow and working capital needs of the Company, including determining the efficiencies of our operations and our ability to readily convert assets into cash.

        June 30,     December 31,  
        2025     2024  
    Working capital   $ 87,164     $ 80,151  
    Cash and cash equivalents     (25,372 )     (25,880 )
    Current maturities of long term debt     2,200       2,141  
    Net working capital   $ 63,992     $ 56,412  
     


    NCS MULTISTAGE HOLDINGS, INC.
    RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL INFORMATION
    (In thousands, except per share data)
    (Unaudited)

    ADJUSTED GROSS PROFIT AND ADJUSTED GROSS MARGIN

    Adjusted gross profit is defined as total revenues minus cost of sales, exclusive of depreciation and amortization expense, which we present as a separate line item in our statement of operations. Adjusted gross margin represents adjusted gross profit as a percentage of total revenues.

        Three Months Ended     Six Months Ended  
        June 30,     June 30,  
        2025     2024     2025     2024  
    Total revenues   $ 36,454     $ 29,690     $ 86,459     $ 73,548  
    Total cost of sales, exclusive of depreciation and amortization expense     23,456       17,719       51,606       44,006  
    Total depreciation and amortization associated with cost of sales     729       653       1,444       1,269  
    Gross Profit   $ 12,269     $ 11,318     $ 33,409     $ 28,273  
    Gross Margin     34 %     38 %     39 %     38 %
    Exclude total depreciation and amortization associated with cost of sales     (729 )     (653 )     (1,444 )     (1,269 )
    Adjusted Gross Profit   $ 12,998     $ 11,971     $ 34,853     $ 29,542  
    Adjusted Gross Margin     36 %     40 %     40 %     40 %
     


    NCS MULTISTAGE HOLDINGS, INC.
    RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL INFORMATION
    (In thousands)
    (Unaudited)

    EBITDA, ADJUSTED EBITDA, ADJUSTED EBITDA MARGIN, AND ADJUSTED EBITDA LESS SHARE-BASED COMPENSATION

    EBITDA is defined as net income (loss) before interest expense, net, income tax expense and depreciation and amortization. Adjusted EBITDA is defined as EBITDA adjusted to exclude certain items which we believe are not reflective of ongoing operating performance or which, in the case of share-based compensation, is non-cash in nature. Adjusted EBITDA Margin represents Adjusted EBITDA as a percentage of total revenues. Adjusted EBITDA Less Share-Based Compensation is defined as Adjusted EBITDA minus share-based compensation expense. We believe that Adjusted EBITDA is an important measure that excludes costs that do not reflect the Company’s ongoing operating performance, legal proceedings for intellectual property as further described below, and certain costs associated with our capital structure. We believe that Adjusted EBITDA Less Share-Based Compensation presents our financial performance in a manner that is comparable to the presentation provided by many of our peers.

    We periodically incur legal costs associated with the assertion of, or defense of, intellectual property, which we exclude from our definition of Adjusted EBITDA and Adjusted EBITDA Less Share-Based Compensation, unless we believe that settlement will occur prior to any material legal spend (included in the table below as “Professional Fees”). Although these costs may recur between periods, depending on legal matters then outstanding or in process, we believe the timing of when these costs are incurred does not typically match the settlement or recoveries associated with such matters, and therefore, can distort our operating results. Similarly, we exclude from Adjusted EBITDA and Adjusted EBITDA Less Share-Based Compensation the one-time settlement or recovery payment associated with these excluded legal matters when realized but would not exclude any go forward royalties or payments, if applicable. We expect to continue to incur these legal costs for current matters under appeal and for any future cases that may go to trial, provided that the amount will vary by period. 

        Three Months Ended     Six Months Ended  
        June 30,     June 30,  
        2025     2024     2025     2024  
    Net income (loss)   $ 1,698     $ (2,839 )   $ 6,152     $ (286 )
    Income tax (benefit) expense     (1,032 )     270       (359 )     757  
    Interest expense, net     68       115       110       215  
    Depreciation     1,235       1,134       2,439       2,207  
    Amortization     167       167       334       334  
    EBITDA     2,136       (1,153 )     8,676       3,227  
    Share-based compensation (a)     646       667       1,198       1,433  
    Professional fees (b)     370       677       1,359       930  
    Foreign currency exchange (gain) loss (c)     (1,201 )     507       (1,198 )     1,005  
    Other (d)     272       218       402       398  
    Adjusted EBITDA   $ 2,223     $ 916     $ 10,437     $ 6,993  
    Adjusted EBITDA Margin     6 %     3 %     12 %     10 %
    Adjusted EBITDA Less Share-Based Compensation   $ 1,577     $ 249     $ 9,239     $ 5,560  

    _______________________

    (a) Represents non-cash compensation charges related to share-based compensation granted to our officers, employees and directors.
    (b) Represents non-capitalizable costs of professional services primarily incurred or reversed in connection with our legal proceedings associated with the assertion of, or defense of, intellectual property as further described above as well as the cost incurred for the evaluation of potential strategic transactions.
    (c) Represents realized and unrealized foreign currency exchange gains and losses primarily due to movement in the foreign currency exchange rates during the applicable periods.
    (d) Represents the impact of a research and development subsidy that is included in income tax expense in accordance with GAAP along with other charges and credits.
       


    NCS MULTISTAGE HOLDINGS, INC.
    RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL INFORMATION
    (In thousands)
    (Unaudited)

    FREE CASH FLOW AND FREE CASH FLOW LESS DISTRIBUTIONS TO NON-CONTROLLING INTEREST

    Free cash flow is defined as net cash provided by (used in) operating activities less purchases of property and equipment (inclusive of the purchase and development of software and technology) plus proceeds from sales of property and equipment, as presented in our consolidated statement of cash flows. We define free cash flow less distributions to non-controlling interest as free cash flow less amounts reported in the financing activities section of the statement of cash flows as distributions to non-controlling interest. We believe free cash flow is useful because it provides information to investors regarding the cash that was available in the period that was in excess of our needs to fund our capital expenditures and other investment needs. We believe that free cash flow less distributions to non-controlling interest is useful because it provides information to investors regarding the cash that was available in the period that was in excess of our needs to fund our capital expenditures, other investment needs, and cash distributions to our joint venture partner.

        Six Months Ended  
        June 30,  
        2025     2024  
    Net cash provided by operating activities   $ 1,876     $ 4,099  
    Purchases of property and equipment     (745 )     (633 )
    Purchase and development of software and technology     —       (53 )
    Proceeds from sales of property and equipment     271       293  
    Free cash flow   $ 1,402     $ 3,706  
    Distributions to non-controlling interest     (900 )     (500 )
    Free cash flow less distributions to non-controlling interest   $ 502     $ 3,206  

    The MIL Network –

  • MIL-OSI Canada: Supporting innovation research

    Source: Government of Canada regional news (2)

    MIL OSI Canada News –

  • MIL-OSI Canada: Expanded, streamlined HPV vaccine program protects more people against cancers

    Source: Government of Canada regional news

    The Province is broadening access to the free, publicly funded human papillomavirus (HPV) vaccine and simplifying the immunization schedule, ensuring more people in B.C. have the protection they need against HPV-related cancers.

    “The HPV vaccine is a powerful tool to protect health and prevent cancer,” said Josie Osborne, Minister of Health. “By expanding free access and making it easier for people to get immunized, we’re taking another meaningful step forward in our 10-year Cancer Action Plan – reducing cancer rates and improving health outcomes for people across British Columbia.”

    Following guidance from the National Advisory Committee on Immunization and provincial immunization experts, the government is streamlining the immunization process for HPV.

    Starting Thursday, July 31, 2025, the HPV vaccine schedule will shift from two doses to one dose for people age nine to 20. People 21 and older will be eligible for a two-dose series, with six-months between doses. Individuals who are immunocompromised will continue to need a three-dose series.

    With this change, the Province is expanding eligibility for B.C.’s publicly funded HPV immunization program to include all people 19 to 26, plus people 27 to 45 who are living with HIV or who self-identify as belonging to the gay, bisexual, questioning, Two-Spirit, transgender and non-binary communities.

    Those who have undergone post-colposcopy treatments on or after July 31, 2025, are eligible to get the vaccine at any age. A colposcopy is a procedure to check for abnormal areas on the cervix and vagina.

    The HPV vaccine will continue to be offered through voluntary, school-based immunization clinics starting with students in Grade 6 and through multi-grade catch-up clinics, as well as in some community pharmacies for those who may have missed their dose. Other eligible people can get the vaccine from some pharmacies, sexually transmitted infection clinics, public-health units, primary-care providers or a community-health nurse. People living in First Nation communities can contact their community health centre or nursing station to book an appointment.

    “B.C.’s community pharmacists are proud to be an accessible provider of vaccines for British Columbians living in communities, large and small,” said pharmacist Colleen Hogg, chair of the BC Pharmacy Association. “Pharmacists are one of the top immunizers and are there for patients when they need us.”

    This initiative is a part of B.C.’s 10-year Cancer Action Plan to better prevent, detect and treat cancers, and to deliver improved care for people facing cancer now, while preparing for growing needs of the future.

    Learn More:

    For general information and how to book an appointment, visit:
    https://www.healthlinkbc.ca/health-library/health-features/get-hpv-vaccine

    For locating services, including public-health units offering immunizations, visit:
    https://www.healthlinkbc.ca/find-care/find-health-services

    To access your health information online, visit:
    https://www.healthgateway.gov.bc.ca/

    A backgrounder follows.

    MIL OSI Canada News –

  • MIL-OSI USA: Larsen: Trade War with Canada Harms Washington Families

    Source: United States House of Representatives – Congressman Rick Larsen (2nd Congressional District Washington)

    Larsen: Trade War with Canada Harms Washington Families

    Everett, WA, July 31, 2025

    Today, Representative Rick Larsen (WA-02) released the following statement:

    “President Trump’s unnecessary trade war with Canada is hurting families and businesses in Northwest Washington state.  

    • As of last month, Canadian travelers from B.C. to Washington state via Whatcom County have decreased by 43% compared to 2024.
    • Online purchases from U.S. retailers are down 14% and travel purchases in the U.S. are down 27%.
    • Northwest Yarns, a small business in Bellingham, lost 20% of their sales because of Canadian shoppers choosing to spend their money at home. 
    • Point to Point Parcel, a local Point Roberts shipping company that survived 24 years, closed in May because of the President’s reckless tariffs.
    • An international company shifted manufacturing work from Washington state to Canada and a maritime employer moved a project from Bellingham to Canada because of tariff uncertainty.

    “Instead of a pointless trade war, the President should work with Canada to address the challenges facing both Americans and Canadians. A positive, effective agenda would include rebuilding manufacturing jobs, bringing down the cost of living, building stronger cross-border energy and critical minerals sectors, and confronting unfair competition from non-market economies.

    “With Trump’s arbitrary deadline of August 1st approaching, any deal that locks in U.S. tariffs will cause further harm for families in Northwest Washington state. The Administration should be working with Canada to reduce barriers between our two economies, create jobs and lower prices.”

    Rep. Larsen is a member of the New Democrat Coalition Trade and Tariffs Task Force and has been a leader in opposing the Trump administration’s tariffs.

    ###

    MIL OSI USA News –

  • MIL-OSI: Trisura Announces Timing of Second Quarter Results Release and Earnings Conference Call

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, July 31, 2025 (GLOBE NEWSWIRE) — Trisura Group Ltd. (“Trisura” or “Trisura Group”) (TSX: TSU), a leading specialty insurance provider, announces the timing of second quarter 2025 results release and earnings conference call.

    Trisura will release its second quarter 2025 results after market close on Thursday, August 7th, 2025. The company will host a conference call for analysts and investors on Friday, August 8th, 2025 at 9:00 a.m. ET. Conference call participants will be David Clare, President and Chief Executive Officer and David Scotland, Chief Financial Officer.

    To listen to the call via live audio webcast, please follow the link below:
    https://edge.media-server.com/mmc/p/tta4p4qp

    A replay of the call will be available through the link above.

    About Trisura Group

    Trisura Group Ltd. is a specialty insurance provider operating in the Surety, Warranty, Corporate Insurance, Program and Fronting business lines of the market. Trisura has investments in wholly owned subsidiaries through which it conducts insurance operations. Those operations are primarily in Canada and the United States. Trisura Group Ltd. is listed on the Toronto Stock Exchange under the symbol “TSU”.

    Further information is available at https://www.trisura.com. Important information may be disseminated exclusively via the website; investors should consult the site to access this information. Details regarding the operations of Trisura Group Ltd. are also set forth in regulatory filings. A copy of the filings may be obtained on Trisura Group’s SEDAR+ profile at www.sedarplus.ca.

    For more information, please contact:
    Name: Bryan Sinclair
    Tel: 416 607 2135
    Email: bryan.sinclair@trisura.com

    The MIL Network –

  • MIL-OSI: Trupanion to Participate in the Canaccord Genuity 45th Annual Growth Conference

    Source: GlobeNewswire (MIL-OSI)

    SEATTLE, July 31, 2025 (GLOBE NEWSWIRE) — Trupanion, Inc. (Nasdaq: TRUP), a leader in medical insurance for cats and dogs, announced today that Margi Tooth, Chief Executive Officer and President, will participate in a fireside chat at the Canaccord Genuity 45th Annual Growth Conference in Boston, Massachusetts on Wednesday, August 13, 2025 at 9:30 a.m. ET and will participate in meetings with investors throughout the day.

    The presentation will be webcast live and can be accessed on Trupanion’s Investor Relations website at http://investors.trupanion.com.

    About Trupanion

    Trupanion is a leader in medical insurance for cats and dogs throughout the United States, Canada, and certain countries in Continental Europe with over 1,000,000 pets currently enrolled. For over two decades, Trupanion has given pet owners peace of mind so they can focus on their pet’s recovery, not financial stress. Trupanion is committed to providing pet parents with the highest value in pet medical insurance with unlimited payouts for the life of their pets. With its patented process, Trupanion is the only North American provider with the technology to pay veterinarians directly in seconds at the time of checkout. Trupanion is listed on NASDAQ under the symbol “TRUP”. The company was founded in 2000 and is headquartered in Seattle, WA. Trupanion policies are issued, in the United States, by its wholly owned insurance entity American Pet Insurance Company and, in Canada, by Accelerant Insurance Company of Canada or GPIC Insurance Company. Policies are sold and administered in Canada by Canada Pet Health Insurance Services, Inc. dba Trupanion 309-1277 Lynn Valley Road, North Vancouver, BC V7J 0A2 and in the United States by Trupanion Managers USA, Inc. (CA license No. 0G22803, NPN 9588590). Canada Pet Health Insurance Services, Inc. is a registered damage insurance agency and claims adjuster in Quebec #603927. For more information, please visit trupanion.com.

    Contacts 

    Laura Bainbridge, Senior Vice President, Corporate Communications
    Gil Melchior, Director, Investor Relations
    Investor.Relations@trupanion.com

    The MIL Network –

  • MIL-OSI USA: John James Demands Immediate Action from Canada to Stop Toxic Wildfire Smoke Endangering Michiganders

    Source: United States House of Representatives – Congressman John James (Michigan 10th District)

    MICHIGAN — Congressman John James today authored a letter calling on Canadian leaders to take urgent and decisive action to contain the growing wildfire crisis that is poisoning the air and threatening the health of millions across Michigan and the Midwest.

    The 2023 wildfire season in Canada was catastrophic, releasing an unprecedented 647 teragrams of carbon — the equivalent of running over 500 million cars for a full year. This toxic smoke has blanketed cities from Detroit to Minneapolis, contributing to increased hospitalizations, respiratory illnesses, and premature deaths, especially among vulnerable populations such as children with asthma, dialysis patients, and seniors. 

    For three years running, nearly 70 million acres have burned across Canada, the largest cumulative loss on record, turning major U.S. cities into some of the most polluted urban areas in the world.

    Despite the clear public health crisis, Canadian officials have shown alarming disregard. Manitoba’s Premier Wab Kinew recently dismissed the health risks to Americans as “trivial” adding that Americans “enjoying their summers” is not a priority for Manitoba. This lack of urgency undermines decades of cross-border cooperation and damages the U.S.—Canada relationship.

    “Michigan families deserve clean air and respect. Canada’s failure to control these wildfires is not just an environmental issue, it’s a public health emergency that threatens our communities,” said Congressman James. “Our friendship with Canada is strong, but friendship requires respect. And respect means protecting each other’s health, not dismissing it.”

    With over 69 million residents across the Midwest under air quality alerts, and American firefighting teams deployed to help contain Canadian fires, the status quo is no longer acceptable. Congressmen James is urging Natural Resources Canada and the Canadian Forest Service to reform outdated forest management policies and invest in modern technologies to prevent future disasters.

    Click here to read the full letter.

    ###

    MIL OSI USA News –

  • MIL-OSI Canada: Investigation into fatal RCMP shooting in Lac La Biche continues

    Source: Government of Canada regional news (2)

    MIL OSI Canada News –

  • MIL-OSI Canada: Updating Flood Risk Planning for Safe and Strong Community Development

    Source: Government of Canada regional news

    Released on July 31, 2025

    Saskatchewan Adopting 1:200-Year Flood Elevation                                                         

    Ensuring municipalities can plan for the growth of their communities, the Ministry of Government Relations is aligning the regulations of The Planning and Development Act, 2007, to the standard of a one-in-200-year flood event. 

    This change will bring the province into alignment with the Federal Disaster Financial Assistance Arrangements program. A one-in-200-year flood risk is a 0.5 per cent chance of flooding occurring in a given year.  

    “Keeping our communities safe while supporting development is key to a growing province,” Government Relations Minister Eric Schmalz said. “This move confirms our commitment to growing communities, making room for economic development opportunities in this province. Our government will continue to examine how we can harmonize standards across Canada, including for community planning and building.”

    “The Water Security Agency (WSA) is committed to helping municipalities build and grow in a sustainable way,” Minister Responsible for the WSA Daryl Harrison said. “WSA has been engaging with communities across Saskatchewan about flood mapping and helping them balance development and flood mapping.” 

    “The RM of Corman Park welcomes the Government of Saskatchewan’s move to adopt the one-in-200-year flood elevation standard,” R.M. of Corman Park Reeve Joe Hargrave said. “This legislative change not only prioritizes public safety but also strengthens our ability to plan and build with confidence in a changing climate within the flood fringe areas. We appreciate the province’s effort to align with federal guidelines, and we look forward to further guidance and potential provincial support to help municipalities like ours adapt zoning bylaws and building policies in a way that balances safety and local development needs. These new guidelines will help form our upcoming discussions with valley residents who live within the flood plain.” 

    “Ensuring alignment between provincial and municipal efforts is key to maximizing the growth of the province, especially when it comes to critical information tied to safety and real estate development,” Saskatchewan Realtors Association President and CEO Chris Guérette said. “We are pleased to see this kind of alignment in regard to flood protection so property owners, neighbourhoods and municipalities can work together to maximize their growth potential.”

    For communities interested in more information and details on this change, visit: saskatchewan.ca.

    -30-

    For more information, contact:

    MIL OSI Canada News –

  • MIL-OSI Canada: More Than $53 Million for Southwest and Area Highway Improvements Move Export Based Economy

    Source: Government of Canada regional news

    Released on July 31, 2025

    Today, the Government of Saskatchewan provided an update about more than $53 million of highway investments this year in the southwest and area that keep Saskatchewan’s export-based economy moving.

    “These projects are a snapshot of our provincial government’s ongoing commitment and investment to maintain, improve and upgrade our highways,” Education Minister and Swift Current MLA Everett Hindley said on behalf of Highways Minister David Marit. “Our road network is a key link in getting Saskatchewan goods and products throughout the province, across Canada and around the world to support our economy to maintain our quality of life. We appreciate the patience and understanding of all motorists during road construction. Drivers are reminded to be cautious, alert and obey all signage and flag persons when approaching work zones as highway crews and contractors do this important work. We want everyone to get home safely.”

    Provincial highway work includes paving, culvert replacements, grading and various maintenance.

    “The Swift Current and District Chamber of Commerce sincerely appreciates the provincial government’s investment in highways and related infrastructure in the southwest,” Swift Current and District Chamber of Commerce CEO Corla Rokochy said. “Continued investment in our transportation network helps local businesses grow, supports tourism and ensures that communities across southwest Saskatchewan remain connected. We value the Government of Saskatchewan’s ongoing commitment to building and maintaining the infrastructure that drives economic opportunity in our region.”

    “Infrastructure investments like those being made in southwest Saskatchewan are vital to the success of our industry,” Saskatchewan Trucking Association Executive Director Susan Ewart said. “Enhancing key trade routes, such as the Trans-Canada Highway, strengthens supply chains, supports innovation through modern vehicle configurations and ensures goods move safely and efficiently. The Saskatchewan Trucking Association welcomes these improvements and the continued commitment to growing our province’s economic backbone.” 

    Some of the projects in the southwest in the Swift Current and Kindersley areas include:

    • An estimated $12.2 million toward Trans-Canada Highway 1 east of Swift Current to pave about 25 km and to upgrade five culverts. The culverts are under Highway 1 eastbound between Waldeck and 7 km west. The paving portions are in the westbound lanes of Highway 1 from west of the Herbert Access Road to about 3 km east of its junction with Highway 4. Work began in April and was completed in July.
    • About $4.5 million to micro-surface more than 95 km of Highway 1 west of Swift Current. Work is expected to begin around mid-August and be completed this fall.
    • An estimated $14 million for daily routine maintenance from spring to fall this year in the southwest. Examples of that maintenance work, which can occur over a day or two include: shoulder work on Highway 37 from its junction with Highway 18 north to Shaunavon and spot sealing west of Cadillac on Highway 13 earlier this year.
    • An estimated $15.9 million to grade and replace culverts toward upgrading work on more than 24 km of Highway 51 west of Biggar. Work began in July and is expected to be finished by late 2026. Paving for the project has yet to be tendered.
    • An estimated $3.4 million toward improving the driving surface of about a 4.5 km segment of Highway 44 between Glidden and Eston. Work began in May and will be completed this summer.
    • About $3.5 million for surface mixing and paving on approximately 10 km of Highway 13 west of Cadillac. The work is anticipated to start in summer of 2025.

    The start and completion dates of all projects are subject to weather.

    Motorists are reminded to check the Highway Hotline before heading out. Saskatchewan’s provincial road information service provides details about construction zones, ferry crossings, closures and incidents related to wildfires.

    Since 2008, the Government of Saskatchewan has invested more than $13.8 billion in transportation infrastructure, improving over 21,800 kilometres of highways across the province.

    -30-

    For more information, contact:

    Dan Palmer
    Highways
    Regina
    Phone: 306-787-3179
    Email:     dan.palmer@gov.sk.ca

    MIL OSI Canada News –

  • MIL-OSI Canada: Saskatchewan Wildfire Update July 31

    Source: Government of Canada regional news

    Released on July 31, 2025

    As of 11:00 a.m. on Thursday, July 31, there are 57 active wildfires in Saskatchewan. Of those active fires, two are categorized as contained, 13 are not contained, 27 are ongoing assessments and 15 are listed as protecting values. 

    12 communities are currently under an evacuation order: Resort Subdivision of Lac La Plonge; La Plonge Reserve; Northern Village of Beauval; Northern Hamlet of Jans Bay; Resort Subdivision of Ramsey Bay; Patuanak/English River First Nation; Northern Village of Pinehouse; Canoe Lake Cree First Nation/Canoe Narrows; Île-à-la-Crosse; Resort Subdivision of Cole Bay; and Resort Subdivision of Little Amyot Lake. Clearwater River Dene Nation has issued an evacuation order as of this afternoon.

    A full list of evacuated communities can be found on the Active Evacuations webpage. 

    Any evacuees should register through the Sask Evac Web Application and then call 1-855-559-5502 between 8 a.m. and 5 p.m. to have their needs assessed for additional assistance. Individuals who need help registering through the application can call the 855 Line for assistance. 

    Evacuees supported by the Canadian Red Cross should call 1-800-863-6582.

    As a reminder, there is a fire ban that is still in place due to the extreme fire risk. The fire ban encompasses the area north of the provincial forest boundary up to the Churchill River. The fire ban prohibits any open fires, controlled burns and fireworks in the designated boundary. This includes provincial parks, provincial recreation sites and the Northern Saskatchewan Administrative District within those boundaries. 

    A map with fire ban boundaries can be found in the interactive fire ban map. 

    -30-

    For more information, contact:

    MIL OSI Canada News –

  • MIL-OSI: ThreeD Capital Inc. Announces Upsize to its Private Placement Financing

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, July 31, 2025 (GLOBE NEWSWIRE) — ThreeD Capital Inc. (“ThreeD” or the “Company”) (CSE:IDK / OTCQX:IDKFF) a Canadian-based venture capital firm focused on opportunistic investments in companies in the junior resources and disruptive technologies sectors, is pleased to announce that it has upsized its previously announced non-brokered financing (the “Private Placement”).

    The Company now intends to issue up to 11,600,000 units of the Company (“Units”) at a price of $0.06 per Unit, for total gross proceeds of up to $696,000. Each Unit is comprised of one common share and one common share purchase warrant (a “Warrant”). Each whole Warrant entitles the holder thereof to acquire one common share of the Company at an exercise price of $0.15 per common share for a period of 60 months. No commission or finders’ fees are expected paid as part of the Private Placement.

    All securities issued and issuable in connection with the Private Placement will be subject to a four-month and a day hold period. Proceeds received from the Private Placement are intended to be used for general working capital purposes and purchase of investments.

    In connection with the Private Placement, certain directors of the Company (collectively the “Insiders”), intend to purchase a total of 11,600,000 Units. Insiders’ participation in the Private Placement constitutes a “related party transaction” pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is relying on the exemption from the valuation and minority shareholder approval requirements under MI 61-101, as the fair market value of the Insiders’ participation in the Private Placement does not exceed 25% of the market capitalization of the Company.

    The Private Placement remains subject to the approval of the Canadian Securities Exchange.

    About ThreeD Capital Inc.

    ThreeD is a publicly-traded Canadian-based venture capital firm focused on opportunistic investments in companies in the junior resources and disruptive technologies sectors. ThreeD’s investment strategy is to invest in multiple private and public companies across a variety of sectors globally. ThreeD seeks to invest in early stage, promising companies where it may be the lead investor and can additionally provide investees with advisory services and access to the Company’s ecosystem.

    For further information:
    Matthew Davis, CPA
    Chief Financial Officer and Corporate Secretary
    info@threedcap.com
    Phone: 416-941-8900
     

    The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.

    Forward-Looking Statements

    This news release contains certain forward-looking statements and forward-looking information (collectively referred to herein as “forward-looking statements”) within the meaning of Canadian securities laws including, without limitation, statements with respect to the future investments by the Company. All statements other than statements of historical fact are forward-looking statements. Undue reliance should not be placed on forward-looking statements, which are inherently uncertain, are based on estimates and assumptions, and are subject to known and unknown risks and uncertainties (both general and specific) that contribute to the possibility that the future events or circumstances contemplated by the forward-looking statements will not occur. Although the Company believes that the expectations reflected in the forward looking statements contained in this press release, and the assumptions on which such forward-looking statements are made, are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause the Company’s actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, except as required by applicable law. The forward-looking statements contained herein are expressly qualified by this cautionary statement.

    The MIL Network –

  • MIL-OSI: FLINT Announces Second Quarter 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, July 31, 2025 (GLOBE NEWSWIRE) — FLINT Corp. (“FLINT” or the “Company”) (TSX: FLNT) today announced its results for the three and six months ended June 30, 2025. All amounts are in Canadian dollars and expressed in thousands of dollars unless otherwise noted.

    “EBITDAS” and “Adjusted EBITDAS” are not standard measures under IFRS. Please refer to the Advisory regarding Non-GAAP Financial Measures at the end of this press release for a description of these items and limitations of their use.

    “Our continued commitment to quality execution and disciplined business optimization was once again evident this quarter. Despite a year over year decline in revenues, we delivered improved operating results, demonstrating the resilience of our operating model and the strength of our team,” said Barry Card, Chief Executive Officer.

    “Second quarter revenues, gross profit, and Adjusted EBITDAS all increased compared to the first quarter of 2025. Activity levels were slightly lower than the same period last year, with revenues down approximately 10% in that timeframe. At the same time, gross profit in the second quarter of 2025 reached $18.5 million, and Adjusted EBITDAS was $9.6 million, representing increases of 3% and 16%, respectively, over the second quarter of 2024. Given the current economic and geopolitical landscape, we are seeing delays in the timing of work awarded and executed by our customers. As a result, we anticipate activity levels for the remainder of 2025 to remain broadly consistent with the first half of the year,” added Mr. Card.

    SECOND QUARTER HIGHLIGHTS

    • Revenue for the three months ended June 30, 2025 was $148.3 million, representing a decrease of $16.6 million or 10.1% from the same period in 2024 and an increase of $10.4 million or 7.6% from the first quarter of 2025.
    • Gross profit for the three months ended June 30, 2025 was $18.5 million, representing an increase of $0.5 million or 2.9% from the same period in 2024 and an increase of $4.1 million or 28.5% from the first quarter of 2025.
    • Gross profit margin for the three months ended June 30, 2025 was 12.5%, as compared to 10.9% in the same period in 2024 and 10.4% in the first quarter of 2025.
    • Adjusted EBITDAS for the three months ended June 30, 2025 was $9.6 million, representing an increase of $1.3 million or 16.1% from the same period in 2024 and an increase of $4.5 million or 88.3% from the first quarter of 2025.
    • Adjusted EBITDAS margin was 6.5% for the three months ended June 30, 2025, representing an increase of 1.5% from the same period in 2024 and an increase of 2.8% from the first quarter of 2025.
    • Selling, general and administrative (“SG&A”) expenses for the three months ended June 30, 2025 were $9.4 million, representing a decrease of $0.8 million or 7.5% from the same period in 2024 and was consistent with the first quarter of 2025. As a percentage of revenue, SG&A expenses for the three months ended June 30, 2025 was 6.3%, as compared to 6.2% in the same period in 2024 and 6.8% in the first quarter of 2025.
    • Liquidity, including cash and available credit facilities, was $97.4 million at June 30, 2025, as compared to $41.7 million from the same period in 2024, representing an increase of $55.7 million or 133.5%.
    • New contract awards and renewals totaled approximately $56.8 million for the three months ended June 30, 2025 and $8.8 million for the first three weeks of July. Approximately 68% of the work is expected to be completed in 2025.

    SECOND QUARTER FINANCIAL RESULTS

    ($ thousands, except per share amounts) Three months ended June 30, Six months ended June 30,
    2025   2024   % Change   2025   2024   % Change  
                   
    Revenue ($) 148,302   164,922   (10.1 ) 286,183   311,785   (8.2 )
                   
    Gross Profit ($) 18,508   17,978   2.9   32,909   30,988   6.2  
    Gross Profit Margin (%) 12.5   10.9   1.6   11.5   9.9   1.6  
                   
    Adjusted EBITDAS (1) 9,639   8,305   16.1   14,757   11,493   28.4  
    Adjusted EBITDAS Margin (%) 6.5   5.0   1.5   5.2   3.7   1.5  
                   
    SG&A ($) 9,416   10,181   (7.5 ) 18,777   20,237   (7.2 )
    SG&A Margin (%) 6.3   6.2   0.1   6.6   6.5   0.1  
                   
    Net income (loss) from continuing operations ($) 1,106   (588 ) 288.1   (2,226 ) (5,374 ) 58.6  
    Net income (loss) ($) 1,100   (606 ) 281.5   (2,241 ) (5,618 ) 60.1  
                   
    Basic and Diluted:              
    Net income (loss) per share from continuing operations ($) 0.01   0.00   —   (0.02 ) (0.05 ) 59.5  
    Net income (loss) per share ($) 0.01   0.00   —   (0.02 ) (0.05 ) 59.5  
    (1) EBITDAS and Adjusted EBITDAS are not standardmeasures under IFRS and they are defined in the section “Advisory regarding Non-GAAP Financial Measures”
     

    Revenue for the three and six months ended June 30, 2025 was $148,302 and $286,183 compared to $164,922 and $311,785 for the same periods in 2024, representing a decrease of 10.1% and 8.2%. The decrease in revenue was primarily due to the timing of construction and maintenance work as compared to the same periods in 2024.

    Gross profit for the three and six months ended June 30, 2025 was $18,508 and $32,909 compared to $17,978 and $30,988 for the same periods in 2024, representing an increase of 2.9% and 6.2%. Gross profit margin for three and six months ended June 30, 2025 was 12.5% and 11.5%, compared to 10.9% and 9.9% for the same periods in 2024. The increase in gross profit, both on an absolute basis and as a percentage of revenue, was primarily due to the mix of work compared to the same periods in 2024.

    SG&A expenses for the three and six months ended June 30, 2025 were $9,416 and $18,777, in comparison to $10,181 and $20,237 for the same periods in 2024, representing a decrease of 7.5% and 7.2%. As a percentage of revenue, SG&A expenses for the three and six months ended June 30, 2025 were 6.3% and 6.6% compared to 6.2% and 6.5% for the same periods in 2024. The decrease in SG&A expenses is primarily driven by reduced personnel expenses.

    For the three and six months ended June 30, 2025, Adjusted EBITDAS was $9,639 and $14,757 compared to $8,305 and $11,493 for the same periods in 2024. As a percentage of revenue, Adjusted EBITDAS was 6.5% and 5.2% for the three and six months ended June 30, 2025 compared to 5.0% and 3.7% for the same periods in 2024.

    Income from continuing operations for the three and six months ended June 30, 2025 was income of $1,106 and a loss of $2,226 compared to a loss of $588 and a loss of $5,374 for the same periods in 2024. The variance was driven primarily by the increase in gross profit and lower SG&A expenses.

    LIQUIDITY AND CAPITAL RESOURCES

    FLINT has an asset-based revolving credit facility (the “ABL Facility”) providing for maximum borrowings of up to $50.0 million with a Canadian chartered bank. The amount available under the ABL Facility will vary from time to time based on the borrowing base determined with reference to the accounts receivable of FLINT and certain of its subsidiaries. The maturity date of the ABL Facility is April 14, 2027.

    The Company anticipates that its liquidity (cash on hand and available credit facilities) and cash flows from operations will be sufficient to meet its short-term contractual obligations. To maintain compliance with its financial covenants through June 30, 2026, the Company can request approval from the holder of the Senior Secured Debentures to pay interest on the Senior Secured Debentures in kind.

    As at June 30, 2025, the issued and outstanding share capital included 110,001,239 Common Shares, 127,732 Series 1 Preferred Shares, and 40,100 Series 2 Preferred Shares.

    The Series 1 Preferred Shares (having an aggregate value of $127.732 million) are convertible at the option of the holder into Common Shares at a price of $0.35/share and the Series 2 Preferred Shares (having an aggregate value of $40.100 million) are convertible into Common Shares at a price of $0.10/share.

    The Series 1 and Series 2 Preferred Shares have a 10% fixed cumulative preferential cash dividend payable when the Company has sufficient monies to be able to do so, including under the provisions of applicable law and contracts affecting the Company. The Board of Directors of the Company does not intend to declare or pay any cash dividends until the Company’s balance sheet and liquidity position supports the payment. As at June 30, 2025, the accrued and unpaid dividends on the Series 1 and Series 2 shares totaled $118.6 million. Any accrued and unpaid dividends are convertible in certain circumstances at the option of the holder into additional Series 1 and Series 2 Preferred Shares.

    CORPORATE UPDATES

    The annual meeting of holders of common shares of the Corporation was held on June 24, 2025. At the meeting, shareholders approved the election of Sean McMaster, Barry Card, H. Fraser Clarke, Katrisha Gibson, Karl Johannson and Dean MacDonald as directors and the appointment of Ernst & Young LLP as auditors.

    ADDITIONAL INFORMATION

    Our unaudited condensed interim financial statements for the three and six months ended June 30, 2025 and the related Management’s Discussion and Analysis of the operating and financial results can be accessed on our website at www.flintcorp.com and will be available shortly through SEDAR+ at www.sedarplus.ca.

    About FLINT Corp.

    With a legacy of excellence and experience stretching back more than 100 years, FLINT provides solutions for the Energy and Industrial markets including: Oil & Gas (upstream, midstream and downstream), Petrochemical, Mining, Power, Agriculture, Forestry, Infrastructure and Water Treatment. With offices strategically located across Canada and a dedicated workforce, we provide maintenance, construction, wear technology and environmental services that help our customers bring their resources to our world. For more information about FLINT, please visit www.flintcorp.com or contact:

    Barry Card   Jennifer Stubbs
    Chief Executive Officer   Chief Financial Officer
    FLINT Corp.   FLINT Corp.
    (587) 318-0997    
    investorrelations@flintcorp.com    
         

    Advisory regarding Forward-Looking Information

    Certain information included in this press release may constitute “forward-looking information” within the meaning of Canadian securities laws. In some cases, forward-looking information can be identified by terminology such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “estimate”, “predict”, “potential”, “continue” or the negative of these terms or other similar expressions concerning matters that are not historical facts. Specifically, this press release contains forward-looking information relating to: our business plans, strategies and objectives; the sufficiency of our liquidity and cash flow from operations to meet our short-term contractual obligations and maintain compliance with our financial covenants through to June 30, 2026; the payment of interest owing on the Senior Secured Debentures in kind; the Company’s approach to dividends; and that we anticipate activity levels for the remainder of 2025 to remain broadly consistent with the first half of 2025.

    Forward-looking information involves significant risks and uncertainties. A number of factors could cause actual events or results to differ materially from the events and results discussed in the forward-looking information including, but not limited to, compliance with debt covenants, access to credit facilities and other sources of capital for working capital requirements and capital expenditure needs, availability of labour, dependence on key personnel, economic conditions, commodity prices, interest rates, regulatory change, weather and risks related to the integration of acquired businesses. These factors should not be considered exhaustive. Risks and uncertainties about FLINT’s business are more fully discussed in FLINT’s disclosure materials, including its annual information form and management’s discussion and analysis of the operating and financial results, filed with the securities regulatory authorities in Canada and available on SEDAR+ at www.sedarplus.ca. In formulating the forward-looking information, management has assumed that business and economic conditions affecting FLINT will continue substantially in the ordinary course, including, without limitation, with respect to general levels of economic activity, regulations, taxes and interest rates. Although the forward-looking information is based on what management of FLINT consider to be reasonable assumptions based on information currently available to it, there can be no assurance that actual events or results will be consistent with this forward-looking information, and management’s assumptions may prove to be incorrect.

    This forward-looking information is made as of the date of this press release, and FLINT does not assume any obligation to update or revise it to reflect new events or circumstances except as required by law. Undue reliance should not be placed on forward-looking information. Forward-looking information is provided for the purpose of providing information about management’s current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes.

    Advisory regarding Non-GAAP Financial Measures

    The terms ‘‘EBITDAS’’ and “Adjusted EBITDAS” (collectively, the ‘‘Non-GAAP Financial Measures’’) are financial measures used in this press release that are not standard measures under IFRS. FLINT’s method of calculating the Non-GAAP Financial Measures may differ from the methods used by other issuers. Therefore, the Non-GAAP Financial Measures, as presented, may not be comparable to similar measures presented by other issuers.

    EBITDAS refers to income (loss) from continuing operations in accordance with IFRS, before depreciation and amortization, interest expense, income tax expense (recovery) and long-term incentive plan expense. EBITDAS is used by management and the directors of FLINT as well as many investors to determine the ability of an issuer to generate cash from operations. Management believes that in addition to income (loss) from continuing operations and cash provided by operating activities, EBITDAS is a useful supplemental measure from which to determine FLINT’s ability to generate cash available for debt service, working capital, capital expenditures and income taxes. FLINT has provided a reconciliation of income (loss) from continuing operations to EBITDAS below.

    Adjusted EBITDAS refers to EBITDAS excluding restructuring expense, gain on sale of property, plant and equipment, other income and one-time incurred expenses. FLINT has used Adjusted EBITDAS as the basis for the analysis of its past operating financial performance. Adjusted EBITDAS is a measure that management believes (i) is a useful supplemental measure from which to determine FLINT’s ability to generate cash available for debt service, working capital, capital expenditures, and income taxes, and (ii) facilitates the comparability of the results of historical periods and the analysis of its operating financial performance which may be useful to investors. FLINT has provided a reconciliation of income (loss) from continuing operations to Adjusted EBITDAS below.

    Investors are cautioned that the Non-GAAP Financial Measures are not alternatives to measures under IFRS and should not, on their own, be construed as an indicator of performance or cash flows, a measure of liquidity or as a measure of actual return on the shares. These Non-GAAP Financial Measures should only be used with reference to FLINT’s consolidated interim and annual financial statements, which are available on SEDAR+ at www.sedarplus.ca or on FLINT’s website at www.flintcorp.com.

    (In thousands of Canadian dollars) Three months ended June 30,
    		   Six months ended June 30,
    		  
    2025   2024   2025   2024  
             
    Income (loss) from continuing operations 1,106   (588 ) (2,226 ) (5,374 )
    Add:        
    Amortization of intangible assets 64   67   129   135  
    Depreciation expense 2,635   2,715   5,400   5,332  
    Long-term incentive plan expense 900   775   1,900   1,375  
    Interest expense 4,715   4,733   9,244   9,315  
    EBITDAS 9,420   7,702   14,447   10,783  
    Add (deduct):        
    Gain on sale of property, plant and equipment (398 ) (274 ) (712 ) (443 )
    Restructuring expenses 314   581   868   976  
    Other income (171 ) (106 ) (327 ) (421 )
    One-time incurred expenses 474   402   481   598  
    Adjusted EBITDAS 9,639   8,305   14,757   11,493  
                     

    The MIL Network –

  • MIL-OSI Canada: Advocating to unleash our nations’ economic power

    Source: Government of Canada regional news (2)

    MIL OSI Canada News –

  • MIL-OSI Canada: Province takes next step to improve Elk Valley water quality

    Fish, wildlife, ecosystems and communities in the Elk Valley will benefit from an updated plan to improve water quality in the region.

    The Province has updated the Elk Valley Water Quality Plan to improve how B.C. manages the effects of mining on water quality. This is the first time the Elk Valley’s area-based management plan has been amended since it was developed in 2014. The amendment follows a year-long consultation process with governments, First Nations, industry and the public.

    The updated plan includes clear expectations for managing and improving water quality, with goals and guidance for decision-makers. This will help ensure clean water in the Elk Valley and respond to concerns from the community and Ktunaxa First Nations governments.

    The amendment strengthens the ministry’s commitment to protecting the environment and wildlife in the Elk Valley, while supporting an industry crucial to the communities and economy of the region, province and country.

    This amendment is a milestone for the Province, restructuring the plan into a government-led framework for decision-making. The next amendment planned will be a review of the selenium water-quality target for the Koocanusa Reservoir. Planning for this is underway and the Province will continue to engage with partners throughout this process.

    The Elk Valley Water Quality Plan has driven significant investments in water treatment and other strategies to address water quality, and these improvements are starting to become evident. Elk Valley Resources has invested more than $1.5 billion since 2014, and four more water-treatment facilities are being built. These new facilities aim to double the water-treatment capacity at Elk Valley Resources’s mines in the valley by the end of 2027.

    Learn More:

    To learn more about the Elk Valley Area Based Management Plan, including water-quality improvements and the work in progress, visit: https://elkvalleywaterquality.gov.bc.ca/

    MIL OSI Canada News –

  • MIL-OSI Canada: Advocating to unleash our nations’ economic power

    Source: Government of Canada regional news (2)

    MIL OSI Canada News –

  • MIL-OSI Canada: Province takes next step to improve Elk Valley water quality

    Fish, wildlife, ecosystems and communities in the Elk Valley will benefit from an updated plan to improve water quality in the region.

    The Province has updated the Elk Valley Water Quality Plan to improve how B.C. manages the effects of mining on water quality. This is the first time the Elk Valley’s area-based management plan has been amended since it was developed in 2014. The amendment follows a year-long consultation process with governments, First Nations, industry and the public.

    The updated plan includes clear expectations for managing and improving water quality, with goals and guidance for decision-makers. This will help ensure clean water in the Elk Valley and respond to concerns from the community and Ktunaxa First Nations governments.

    The amendment strengthens the ministry’s commitment to protecting the environment and wildlife in the Elk Valley, while supporting an industry crucial to the communities and economy of the region, province and country.

    This amendment is a milestone for the Province, restructuring the plan into a government-led framework for decision-making. The next amendment planned will be a review of the selenium water-quality target for the Koocanusa Reservoir. Planning for this is underway and the Province will continue to engage with partners throughout this process.

    The Elk Valley Water Quality Plan has driven significant investments in water treatment and other strategies to address water quality, and these improvements are starting to become evident. Elk Valley Resources has invested more than $1.5 billion since 2014, and four more water-treatment facilities are being built. These new facilities aim to double the water-treatment capacity at Elk Valley Resources’s mines in the valley by the end of 2027.

    Learn More:

    To learn more about the Elk Valley Area Based Management Plan, including water-quality improvements and the work in progress, visit: https://elkvalleywaterquality.gov.bc.ca/

    MIL OSI Canada News –