Category: Canada

  • MIL-OSI Canada: Manitoba Government Continues to Combat Retail Theft Over Holiday Season

    Source: Government of Canada regional news

    Manitoba Government Continues to Combat Retail Theft Over Holiday Season


    The Manitoba government is continuing to support the efforts of the Winnipeg Police Service (WPS) in combating retail theft throughout the holiday season, Justice Minister Matt Wiebe announced today.

    Were grateful to the Winnipeg Police Service and their members who have made such a positive impact throughout the summer and fall for businesses and community members,” said Wiebe. Over the summer, people in the Exchange District, Osborne Village, the West End and other parts of the city have said they feel safer. We look forward to maintaining that momentum throughout the holiday season.”

    In addition to building on the success of the retail theft and violent crime overtime initiative, 12 new provincially funded Winnipeg police officers begin patrols next month to provide a visible presence and engage with the community in specified areas. The minister noted the use of overtime for focused enforcement and crime prevention will continue.

    “Over the last number of months, WPS members have renewed their connection with the community through engagements and interactions that help foster trust and confidence,” said acting chief Arthur Stannard, Winnipeg Police Service. “The Winnipeg Police Service appreciates the support of the Manitoba government and the funding that has helped make this possible. I would also extend further thanks to the citizens, business owners, and our police officers for their efforts and commitments to enhance the safety of our communities.”

    The enhanced police response to retail crime and violence is another important component of efforts to ensure safety in core areas of Winnipeg, the minister noted. Related initiatives include nearly $1.5 million from the Manitoba government, mayor’s office and the Downtown Winnipeg BIZ for the Downtown Community Safety Partnership and development of a voluntary safe sobering centre at N’Dinawemak – Our Relatives’ Place at 190 Disraeli Fwy.

    “The impact of the retail theft initiative has been phenomenal, as provincial funding has allowed Winnipeg Police Service to more effectively respond to the safety and security issues retail stores have been facing for too long,” said John Graham, director of government relations (prairie region), Retail Council of Canada. “We are grateful that this support will continue and help support retailers as they head into the very busy and important holiday shopping season.”

    Over the summer and fall, the Manitoba government has provided $1.9 million to support an increased police presence in areas identified by the WPS.

    – 30 –

    MIL OSI Canada News

  • MIL-OSI USA: China-Based Chemical Manufacturing Companies and Employees Indicted for Alleged Fentanyl Manufacturing and Distribution

    Source: US State of California

    Today, the Justice Department announced the unsealing of indictments against eight China-based chemical companies and eight employees charging federal crimes, including attempted distribution of synthetic opioids and precursor chemicals used in the production of fentanyl, and money laundering. The indictments were filed under seal in the Middle District of Florida over the past year.

    “Today, the Justice Department announced charges against eight China-based companies and eight individuals we allege are responsible for trafficking precursor chemicals that cartels use to manufacture lethal fentanyl,” said Attorney General Merrick B. Garland. “The global fentanyl supply chain, which ends with the deaths of Americans, often starts with chemical companies based in China. In order to break this critical link in the fentanyl supply chain, the Justice Department has aggressively investigated and prosecuted these companies. We will continue to target every organization and individual that fuels the deadly drug trade.”

    As described in the unsealed indictments, the defendants openly advertised their ability to thwart border officials and deliver the synthetic opioids or the chemicals used to make fentanyl to the Middle District of Florida and elsewhere in the United States. The defendants deliberately engaged in evasive activities, such as mislabeling the contents of shipments to ensure the illicit chemicals and controlled substances went undetected. As a result, these companies were able to sell a stable supply of precursor chemicals to clients in Mexico and the United States for years. One of the companies even represented that every month it sends “more than 20 kilograms to the United States, Africa, Canada, and other countries.” 

    “Today’s indictments against eight China-based chemical companies and eight Chinese nationals are further evidence of DEA’s unwavering commitment to disrupt every aspect of the global fentanyl supply chain,” said Administrator Anne Milgram of the Drug Enforcement Administration (DEA). “For the third time in over a year, DEA investigations have resulted in charges against chemical companies and individuals in China who we allege are supplying chemicals to the cartels to make deadly fentanyl. While they may go to great lengths to try to evade our detection, DEA will use every tool and authority we have to save American lives.”

    The indictments target the evolving tactics of drug traffickers, who often adapt to tightening restrictions on the production and sale of fentanyl. For example, when China banned the production of fentanyl in 2019, China-based companies began producing and selling fentanyl precursors, the ingredients needed to manufacture the drug. These China-based companies distribute fentanyl precursors throughout the world, including to the United States and to Mexico, where drug cartels such as the Sinaloa Cartel and Cartel Jalisco Nueva Generación combine the chemicals into fentanyl and other synthetic opioids that they then distribute throughout the United States and the rest of the world.

    “These indictments are part of our continuing commitment to the protection of our country from the deadly scourge of fentanyl,” said U.S. Attorney Roger B. Handberg for the Middle District of Florida. “Along with our partners at the Drug Enforcement Administration, we will be relentless in our pursuit of China-based chemical companies and their employees who are knowingly manufacturing and exporting fentanyl precursors that cause thousands of deaths every year in the United States.”

    The Justice Department acknowledges the efforts of the People’s Republic of China, Ministry of Public Security. The following indicted companies are now out of operation: Jiangsu Jiyi Chemical, Tianjin Furuntongda Tech Co. Ltd, Wuhan Jinshang Import & Export Trading Co. Ltd., Hubei Shanglin Trading Co., and Wuhan Mingyue Information Technology.

    In addition, the People’s Republic of China has recently scheduled three key chemicals, which in turn provides additional tools for the People’s Republic of China to regulate the chemicals’ production and distribution. DEA Administrator Milgram said, “I would also like to recognize the work done by the People’s Republic of China’s Ministry of Public Security in taking action to schedule protonitazene, piperidone, and 1-BOC-4-AP, which were not scheduled at the time of these investigations, but have now been scheduled.”

    The DEA investigated the cases.

    Assistant U.S. Attorneys David Chee, David Pardo, Lauren Stoia, and Adam McCall and Special Assistant U.S. Attorney Ashley Haynes for the Middle District of Florida are prosecuting the cases.

    These cases are part of an Organized Crime Drug Enforcement Task Forces (OCDETF) operation. OCDETF identifies, disrupts, and dismantles the highest-level criminal organizations that threaten the United States using a prosecutor-led, intelligence-driven, multi-agency approach. Additional information about the OCDETF Program can be found at www.justice.gov/OCDETF.

    Case Summaries

    In January, Guangzhou Tengyue Chemical Co. Ltd., based in Guangzhou, Guangdong Province, China, was charged with attempted importation of protonitazene, along with Chinese national Xiaojun Huang, who allegedly maintained a Bitcoin wallet for the remittance of payments for illicit synthetic opioids on the company’s behalf.

    In January, Hubei Shanglin Trading Co., based in Wuhan, Hubei Province, China, was charged with attempted international money laundering, along with Chinese national Zhihan Wang, who was the alleged registered owner of a Bitcoin wallet associated with the company utilized to complete the sale of fentanyl precursors.

    In November 2023, Jiangsu Jiyi Chemical, based in Beijing, Hebei Province, China, was charged with attempted importation of protonitazene, along with Ji Zhaohui, a Chinese national, who was the alleged holder of the Bitcoin wallet associated with the company.

    In January, Tianjin Furuntongda Tech Co. Ltd, based in Tianjin, Hebei Province, China, was charged with attempted importation of fentanyl precursors, along with Wenxing Gao, a Chinese national, who was the alleged registered agent of Tianjin Furuntongda and the owner of a cryptocurrency wallet associated with the company.

    In November 2023, Wuhan Jinshang Import & Export Trading Co. Ltd., based in Wuhan, Hubei Province, China, was charged with attempted importation of protonitazene, attempted importation of a fentanyl precursor, and attempted international money laundering, along with Wenying Nie, a Chinese national, who was the alleged holder of a Bitcoin wallet associated with the company.

    In January, Wuhan Mingyue Information Technology, based in Wuhan, Hubei Province, China, was charged with attempted importation of fentanyl precursors and attempted international money laundering, along with Chinese national Huanhuan Song, who was the alleged recipient of funds via Western Union on the company’s behalf and the alleged holder of a cryptocurrency wallet associated with the company.

    In June, Henan Oumeng Trade Co. Ltd., based in Zhengzhou, Henan Province, China, was charged with attempted importation of protonitazene and attempted international money laundering, along with Yinxia Zhao, a Chinese national, who was the alleged holder of the Bitcoin wallet associated with the company.

    In June, Shanghai Senria New Materials Co. Ltd., doing business as Shanghai Senria Biotechnology Co. Ltd., based in the Fengxian District of Shanghai, China, was charged with attempted importation of protonitazene and attempted international money laundering, along with Zhenbo Han, a Chinese national, who was the alleged holder of the Bitcoin wallet associated with the company.

    An indictment is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    MIL OSI USA News

  • MIL-OSI Security: Coldbrook — Missing youth: Help the RCMP find Tyson Taylor

    Source: Royal Canadian Mounted Police

    October 25, 2024, Coldbrook, Nova Scotia… Kings District RCMP is asking for the public’s assistance in locating 15-year-old Tyson Taylor.

    Tyson is described as 5-foot-11, 175 lbs., with brown hair and blue eyes. Investigators believe he may be in the Berwick area.

    When someone goes missing, it has deep and far-reaching impacts for the person and those who know them. We ask that people spread the word through respectfully.

    Anyone with information on the whereabouts of Tyson Taylor is asked to contact Kings District RCMP at 902-679-5555. If you wish to remain anonymous, call Nova Scotia Crime Stoppers, toll free, at 1-800-222-TIPS (8477), submit a secure web tip at www.crimestoppers.ns.ca, or use the P3 Tips App.

    File #: 2024-1568992

    –30–

    Sgt. Deepak Prasad

    Public Information Officer
    Nova Scotia RCMP

    rcmpns-grcne@rcmp-grc.gc.ca

    MIL Security OSI

  • MIL-OSI Security: China-Based Chemical Manufacturing Companies and Employees Indicted for Alleged Fentanyl Manufacturing and Distribution

    Source: United States Attorneys General 7

    Today, the Justice Department announced the unsealing of indictments against eight China-based chemical companies and eight employees charging federal crimes, including attempted distribution of synthetic opioids and precursor chemicals used in the production of fentanyl, and money laundering. The indictments were filed under seal in the Middle District of Florida over the past year.

    “Today, the Justice Department announced charges against eight China-based companies and eight individuals we allege are responsible for trafficking precursor chemicals that cartels use to manufacture lethal fentanyl,” said Attorney General Merrick B. Garland. “The global fentanyl supply chain, which ends with the deaths of Americans, often starts with chemical companies based in China. In order to break this critical link in the fentanyl supply chain, the Justice Department has aggressively investigated and prosecuted these companies. We will continue to target every organization and individual that fuels the deadly drug trade.”

    As described in the unsealed indictments, the defendants openly advertised their ability to thwart border officials and deliver the synthetic opioids or the chemicals used to make fentanyl to the Middle District of Florida and elsewhere in the United States. The defendants deliberately engaged in evasive activities, such as mislabeling the contents of shipments to ensure the illicit chemicals and controlled substances went undetected. As a result, these companies were able to sell a stable supply of precursor chemicals to clients in Mexico and the United States for years. One of the companies even represented that every month it sends “more than 20 kilograms to the United States, Africa, Canada, and other countries.” 

    “Today’s indictments against eight China-based chemical companies and eight Chinese nationals are further evidence of DEA’s unwavering commitment to disrupt every aspect of the global fentanyl supply chain,” said Administrator Anne Milgram of the Drug Enforcement Administration (DEA). “For the third time in over a year, DEA investigations have resulted in charges against chemical companies and individuals in China who we allege are supplying chemicals to the cartels to make deadly fentanyl. While they may go to great lengths to try to evade our detection, DEA will use every tool and authority we have to save American lives.”

    The indictments target the evolving tactics of drug traffickers, who often adapt to tightening restrictions on the production and sale of fentanyl. For example, when China banned the production of fentanyl in 2019, China-based companies began producing and selling fentanyl precursors, the ingredients needed to manufacture the drug. These China-based companies distribute fentanyl precursors throughout the world, including to the United States and to Mexico, where drug cartels such as the Sinaloa Cartel and Cartel Jalisco Nueva Generación combine the chemicals into fentanyl and other synthetic opioids that they then distribute throughout the United States and the rest of the world.

    “These indictments are part of our continuing commitment to the protection of our country from the deadly scourge of fentanyl,” said U.S. Attorney Roger B. Handberg for the Middle District of Florida. “Along with our partners at the Drug Enforcement Administration, we will be relentless in our pursuit of China-based chemical companies and their employees who are knowingly manufacturing and exporting fentanyl precursors that cause thousands of deaths every year in the United States.”

    The Justice Department acknowledges the efforts of the People’s Republic of China, Ministry of Public Security. The following indicted companies are now out of operation: Jiangsu Jiyi Chemical, Tianjin Furuntongda Tech Co. Ltd, Wuhan Jinshang Import & Export Trading Co. Ltd., Hubei Shanglin Trading Co., and Wuhan Mingyue Information Technology.

    In addition, the People’s Republic of China has recently scheduled three key chemicals, which in turn provides additional tools for the People’s Republic of China to regulate the chemicals’ production and distribution. DEA Administrator Milgram said, “I would also like to recognize the work done by the People’s Republic of China’s Ministry of Public Security in taking action to schedule protonitazene, piperidone, and 1-BOC-4-AP, which were not scheduled at the time of these investigations, but have now been scheduled.”

    The DEA investigated the cases.

    Assistant U.S. Attorneys David Chee, David Pardo, Lauren Stoia, and Adam McCall and Special Assistant U.S. Attorney Ashley Haynes for the Middle District of Florida are prosecuting the cases.

    These cases are part of an Organized Crime Drug Enforcement Task Forces (OCDETF) operation. OCDETF identifies, disrupts, and dismantles the highest-level criminal organizations that threaten the United States using a prosecutor-led, intelligence-driven, multi-agency approach. Additional information about the OCDETF Program can be found at www.justice.gov/OCDETF.

    Case Summaries

    In January, Guangzhou Tengyue Chemical Co. Ltd., based in Guangzhou, Guangdong Province, China, was charged with attempted importation of protonitazene, along with Chinese national Xiaojun Huang, who allegedly maintained a Bitcoin wallet for the remittance of payments for illicit synthetic opioids on the company’s behalf.

    In January, Hubei Shanglin Trading Co., based in Wuhan, Hubei Province, China, was charged with attempted international money laundering, along with Chinese national Zhihan Wang, who was the alleged registered owner of a Bitcoin wallet associated with the company utilized to complete the sale of fentanyl precursors.

    In November 2023, Jiangsu Jiyi Chemical, based in Beijing, Hebei Province, China, was charged with attempted importation of protonitazene, along with Ji Zhaohui, a Chinese national, who was the alleged holder of the Bitcoin wallet associated with the company.

    In January, Tianjin Furuntongda Tech Co. Ltd, based in Tianjin, Hebei Province, China, was charged with attempted importation of fentanyl precursors, along with Wenxing Gao, a Chinese national, who was the alleged registered agent of Tianjin Furuntongda and the owner of a cryptocurrency wallet associated with the company.

    In November 2023, Wuhan Jinshang Import & Export Trading Co. Ltd., based in Wuhan, Hubei Province, China, was charged with attempted importation of protonitazene, attempted importation of a fentanyl precursor, and attempted international money laundering, along with Wenying Nie, a Chinese national, who was the alleged holder of a Bitcoin wallet associated with the company.

    In January, Wuhan Mingyue Information Technology, based in Wuhan, Hubei Province, China, was charged with attempted importation of fentanyl precursors and attempted international money laundering, along with Chinese national Huanhuan Song, who was the alleged recipient of funds via Western Union on the company’s behalf and the alleged holder of a cryptocurrency wallet associated with the company.

    In June, Henan Oumeng Trade Co. Ltd., based in Zhengzhou, Henan Province, China, was charged with attempted importation of protonitazene and attempted international money laundering, along with Yinxia Zhao, a Chinese national, who was the alleged holder of the Bitcoin wallet associated with the company.

    In June, Shanghai Senria New Materials Co. Ltd., doing business as Shanghai Senria Biotechnology Co. Ltd., based in the Fengxian District of Shanghai, China, was charged with attempted importation of protonitazene and attempted international money laundering, along with Zhenbo Han, a Chinese national, who was the alleged holder of the Bitcoin wallet associated with the company.

    An indictment is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    MIL Security OSI

  • MIL-OSI: Blue Ribbon Income Fund Announces Monthly Distributions

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Oct. 24, 2024 (GLOBE NEWSWIRE) — (TSX: RBN.UN) Blue Ribbon Income Fund (the “Fund”) announces distributions in the amount of $0.04 per unit per month for record dates from October to December 2024.

    Record Date   Payment Date
    October 31, 2024   November 14, 2024
    November 29, 2024   December 13, 2024
    December 31, 2024   January 15, 2025

    Since the Fund’s inception in September 1997, the Fund has paid cash distributions of $21.69 per unit.  

    Unitholders are reminded that the Fund offers a distribution reinvestment plan (“DRIP”) which provides unitholders with the ability to automatically reinvest distributions, commission free, and realize the benefits of compound growth. Unitholders can enroll in the DRIP program by contacting their investment advisor.

    For further information, please contact your investment advisor, call Brompton’s investor relations line at 416-642-6000 (toll-free at 1-866-642-6001), email info@bromptongroup.com or visit our website at www.blueribbonincomefund.com.

    You will usually pay brokerage fees to your dealer if you purchase or sell units of the investment fund on the Toronto Stock Exchange or other alternative Canadian trading system (an “exchange”). If the units are purchased or sold on an exchange, investors may pay more than the current net asset value when buying units of the investment fund and may receive less than the current net asset value when selling them.

    There are ongoing fees and expenses associated with owning units of an investment fund. An investment fund must prepare disclosure documents that contain key information about the fund. You can find more detailed information about the Fund in the public filings available at www.sedarplus.ca. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

    Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this press release and to other matters identified in public filings relating to the Fund, to the future outlook of the Fund and anticipated events or results and may include statements regarding the future financial performance of the Fund. In some cases, forward-looking information can be identified by terms such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “predict”, “potential”, “continue” or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and we assume no obligation to update or revise them to reflect new events or circumstances.

    The MIL Network

  • MIL-OSI Canada: Ministry statement on lives lost to poisoned drugs in August and September

    Source: Government of Canada regional news

    Media Contacts

    Ministry of Mental Health and Addictions

    Media Relations
    778 587-3237

    https://news.gov.bc.ca/31759

    MIL OSI Canada News

  • MIL-OSI: Sustainable Power & Infrastructure Split Corp. Increases Class A Share Distribution

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Oct. 24, 2024 (GLOBE NEWSWIRE) — Sustainable Power & Infrastructure Split Corp. class A shares (the “Class A Shares”) have delivered a 66.6% year-to-date return and a 13.5% per annum return since inception in May 2021(1). As a result of this strong performance, a positive outlook for the sectors Sustainable Power & Infrastructure Split Corp. (the “Fund”) invests in and dividend growth from the Fund’s portfolio holdings, Brompton Funds is pleased to announce an increase to the monthly distribution rate from $0.06667 to $0.085 per Class A Share. The new distribution rate for the Class A Shares of $1.02 per annum, or 10.5%(2) based on the TSX closing price of $9.70 on October 23, 2024, represents a 27.5% increase from the previous level of $0.80 per annum.

    Brompton Funds announces a distribution payable November 14, 2024 to the Fund’s Class A shareholders of record at the close of business on October 31, 2024:

      Ticker Amount per Share
    Sustainable Power & Infrastructure Split Corp. PWI $0.085

    The Fund invests in a globally diversified and actively managed portfolio (the “Portfolio”) consisting primarily of dividend-paying securities of power and infrastructure companies whose assets, products and services Brompton Funds Limited, the manager, believes are facilitating the multi-decade transition toward decarbonization and environmental sustainability. The Portfolio may include investments in companies operating in the areas of renewable power (wind, solar, hydroelectric), green transportation (electric vehicles, energy transportation and storage, railroads, carbon capture), energy efficiency (smart grids, smart meters, building efficiency), and communications (communication networks, 5G wireless technology), among others.

    The Fund’s Class A Shares have significantly outperformed the S&P Global Infrastructure Total Return Index and the MSCI World Total Return Index year-to-date, over 1-year, 3-years, and since inception(1).

    Annual Compound Returns(1) YTD 1-Year 3-Year Inception
     
    Sustainable Power & Infrastructure Split Corp. (TSX: PWI) 66.6 % 101.5 % 16.1 % 13.5 %  
    S&P Global Infrastructure Total Return Index 18.0 % 30.8 % 9.6 % 8.2 %  
    MSCI World Total Return Index 19.3 % 32.9 % 9.6 % 9.4 %  


    About Brompton Funds

    Founded in 2000, Brompton is an experienced investment fund manager with income and growth focused investment solutions including exchange-traded funds (ETFs) and other Toronto Stock Exchange (“TSX”) traded investment funds. For further information, please contact your investment advisor, call Brompton’s investor relations line at 416-642-6000 (toll-free at 1-866-642-6001), email info@bromptongroup.com or visit our website at www.bromptongroup.com.

    (1)Returns are for the periods ended September 30, 2024 and are unaudited. Inception date May 21, 2021. The table shows the Fund’s compound returns on a Class A Share for each period indicated, compared with the S&P Global Infrastructure Total Return Index (“Infrastructure Index”), and the MSCI World Index (“MSCI Index”) (together the “Indices”). The Infrastructure Index tracks 75 companies from around the world, chosen to represent the listed infrastructure industry and related operations. The index includes three distinct infrastructure clusters: energy, transportation, and utilities. The MSCI Index captures large‑ and mid‑cap representation across 23 developed markets countries and covers approximately 85% of the free float‑adjusted market capitalization in each country. The Fund is actively managed; therefore, its performance is not expected to mirror that of the Indices, which have more diversified portfolios and include a substantially larger number of companies. Furthermore, the Indices performance is calculated without the deduction of management fees, fund expenses and trading commissions whereas the performance of the Class A Shares is calculated after deducting such fees and expenses. Additionally, the performance of the Class A Shares is impacted by the leverage provided by the Fund’s preferred shares. The performance information shown is based on the net asset value per Class A Share and assumes that cash distributions made by the Fund during the periods shown were reinvested at net asset value per Class A Share in additional Class A Shares of the Fund. Past performance does not necessarily indicate how the Fund will perform in the future.

    (2)No distributions will be paid on the Class A Shares if (i) the distributions payable on the Preferred Shares are in arrears, or (ii) in respect of a cash distribution, after the payment of a cash distribution by the Fund the NAV per unit would be less than $15.00.

    You will usually pay brokerage fees to your dealer if you purchase or sell shares of the investment funds on the TSX or other alternative Canadian trading system (an “exchange”). If the shares are purchased or sold on an exchange, investors may pay more than the current net asset value when buying shares of the investment fund and may receive less than the current net asset value when selling them.

    There are ongoing fees and expenses associated with owning shares of an investment fund. An investment fund must prepare disclosure documents that contain key information about the fund. You can find more detailed information about the Fund in the public filings available at www.sedarplus.ca. The indicated rates of return are the historical annual compounded total returns including changes in share value and reinvestment of all distributions and do not take into account certain fees such as redemption costs or income taxes payable by any securityholder that would have reduced returns. Investment funds are not guaranteed, their values change frequently, and past performance may not be repeated.

    Certain statements contained in this document constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this document and to other matters identified in public filings relating to the Fund, to the future outlook of the Fund and anticipated events or results and may include statements regarding the future financial performance of the Fund. In some cases, forward-looking information can be identified by terms such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “predict”, “potential”, “continue” or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and we assume no obligation to update or revise them to reflect new events or circumstances.

    Certain information contained herein (the “Information”) is sourced from/copyright of MSCI Inc., MSCI ESG Research LLC, or their affiliates (“MSCI”), or information providers (together the “MSCI Parties”) and may have been used to calculate scores, signals, or other indicators. The Information is for internal use only and may not be reproduced or disseminated in whole or part without prior written permission. The Information may not be used for, nor does it constitute, an offer to buy or sell, or a promotion or recommendation of, any security, financial instrument or product, trading strategy, or index, nor should it be taken as an indication or guarantee of any future performance. Some funds may be based on or linked to MSCI indexes, and MSCI may be compensated based on the fund’s assets under management or other measures. MSCI has established an information barrier between index research and certain Information. None of the Information in and of itself can be used to determine which securities to buy or sell or when to buy or sell them. The Information is provided “as is” and the user assumes the entire risk of any use it may make or permit to be made of the Information. No MSCI Party warrants or guarantees the originality, accuracy and/or completeness of the Information and each expressly disclaims all express or implied warranties. No MSCI Party shall have any liability for any errors or omissions in connection with any Information herein, or any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages.

    The MIL Network

  • MIL-OSI: Xtract One Announces Annual Fiscal 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Oct. 24, 2024 (GLOBE NEWSWIRE) — Xtract One Technologies Inc. (TSX: XTRA) (OTCQX: XTRAF) (FRA: 0PL) (“Xtract One” or the “Company”) a leading technology-driven threat detection and security solution that prioritizes the patron access experience by leveraging artificial intelligence (AI), today announced its annual results for the year ended July 31, 2024. All information is in Canadian dollars unless otherwise indicated.

    “What a year it’s been! With record results across the board, we continue to make progress towards profitability through operational execution and higher top line growth,” stated Peter Evans, Chief Executive Officer of Xtract One. “Revenue for the year was $16.4 million – quadruple that of last year – while our combined backlog rose to $26.8 million, reflecting strong demand across all vertical markets. We’re positioning the Company for continued expansion going forward as we are seeing growing interest from all types of customers – stadiums and arenas to schools, business centers, and factories – putting us on track for even greater performance in fiscal 2025.”

    “To add further momentum to this success, the recent introduction of Xtract One Gateway will significantly expand our addressable market, and win rate in those markets, by improving the Company’s competitive positioning. Xtract One Gateway will allow high-traffic facilities like schools, convention centers, and commercial properties to quickly screen patrons who may have laptops, tablets or other large metallic objects while still accurately detecting weapons. As the only product on the market with these capabilities, it’s clearly transformational for us and the industry.”

    Fiscal 2024 Annual Highlights

    • Record revenue of $16.4 million for the year ended July 31, 2024 versus $4.1 million in the prior fiscal year
    • Gross profit margin of 63% for the year ended July 31, 2024 versus 60% in the prior fiscal year
    • Total contract value of new bookings1 was $29.8 million for the year ended July 31, 2024 as compared to $15.0 million during the prior fiscal year
    • Platform contractual backlog was $13.8 million at the end of fiscal 2024 as compared to $4.1 million at the end of fiscal 2023. This excludes an additional $13.0 million of agreements pending installation1 at the end of fiscal 2024 versus $10.4 million at the end of fiscal 2023
    • Loss and comprehensive loss was $11.1 million for the year ended July 31, 2024 as compared to $16.3 million for the prior year
    • Subsequent to July 31, 2024, the Company launched Xtract One Gateway, with advanced bi-directional configurable screening and proprietary sensors, for precise weapons detection at locations where users carry a medium volume of personal items such as laptops

    Fourth Quarter Highlights

    • Record quarterly revenue of $5.6 million for the three months ended July 31, 2024 versus $1.8 million in the prior year period
    • Gross profit margin of 65% for the fourth quarter versus 70% in the prior year period
    • Total contract value of new bookings1 was $5.6 million for the three months ended July 31, 2024 as compared to $5.2 million for the prior year period
    • Loss and comprehensive loss was $2.4 million for the three months ended July 31, 2024 as compared to $3.3 million for the same period in fiscal 2023

    This press release should be read in conjunction with the Company’s Annual Consolidated Financial Statements, prepared in accordance with International Financial Reporting Standards (“IFRS”) and the Company’s Management’s Discussion and Analysis for the years ended July 31, 2024 and 2023, which can be found under the Company’s profile on SEDAR+ at www.sedarplus.ca.

    Conference Call Details

    Xtract One will host a conference call to discuss its results on October 25, 2024 at 10:00 am ET. Peter Evans, CEO and Director, and Karen Hersh, CFO and Corporate Secretary, will provide an overview of the financial results along with management’s outlook for the business, followed by a question-and-answer period.

    The webcast and presentation will be accessible on the Company’s website. The webcast can be accessed here and the telephone number for the conference call is 844-481-3016 (412-317-1881 for international callers).

    About Xtract One Technologies

    Xtract One Technologies is a leading technology-driven provider of threat detection and security solutions leveraging AI to deliver seamless and secure experiences. The Company makes unobtrusive weapons and threat detection systems that enable facility operators to prioritize and deliver improved “Walk-right-In” experiences while providing unprecedented safety. Xtract One’s innovative portfolio of AI-powered Gateway solutions excels at allowing facilities to discreetly screen and identify weapons and other threats at points of entry and exit without disrupting the flow of traffic. With solutions built to serve the unique market needs for schools, hospitals, arenas, stadiums, manufacturing, distribution, and other customers, Xtract One is recognized as a market leader delivering the highest security in combination with the best individual experience. For more information, visit www.xtractone.com or connect on Facebook, X, and LinkedIn.

    For further information, please contact:

    Xtract One Inquiries: info@xtractone.com, http://www.xtractone.com    
    Media Contact: Kristen Aikey, JMG Public Relations, 212-206-1645, kristen@jmgpr.com
    Investor Relations: Chris Witty, Darrow Associates, 646-438-9385, cwitty@darrowir.com

    1Supplementary Financial Measures
    The Company utilizes specific supplementary financial measures in this earnings release to allow for a better evaluation of the operating performance of the Company’s business and facilitates meaningful comparison of results in the current period with those in prior periods and future periods. Supplementary financial measures do not have any standardized meaning prescribed under IFRS and therefore may not be comparable to measures presented by other companies. Supplementary financial measures presented in this earnings release include ‘Agreements pending installation’ and ‘Total contract value of new bookings.’ Agreements pending installation reflects total value of signed contracts awarded to the Company that has not been installed at the customer site. ‘Total contract value of new bookings’ is comprised of all new contracts signed and awarded to the Company, regardless of the performance obligations outstanding as of the end of the reporting period. Total contract value is the aggregate value of sales commitments from customers as at the end of the reporting period without consideration of the Company’s completion of the associated performance obligations outlined in each contract.

    Forward Looking Statements

    This news release contains forward-looking statements within the meaning of applicable securities laws that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipates”, “expects”, “believes”, and similar expressions or the negative of these words or other comparable terminology. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include but are not limited to the risks detailed from time to time in the continuous disclosure filings made by the Company with securities regulations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements only as expressly required by applicable law.

    No securities exchange or commission has reviewed or accepts responsibility for the adequacy or accuracy of this release.

    Consolidated Statements of Loss and Comprehensive Loss for the Years Ended July 31, 2024 and 2023

    The following table is extracted from the Company’s consolidated financial statements and presented in Canadian dollars to demonstrate the Statements of Loss and Comprehensive loss for the years ended July 31, 2024 and 2023:

            2024       2023    
                 
    Revenue          
    Platform revenue   $ 15,969,996     $ 3,596,999    
    Xtract revenue     388,011       514,245    
    Total revenue   $ 16,358,007     $ 4,111,244    
                 
    Cost of revenue          
    Platform cost of revenue   $ 5,858,611     $ 1,383,623    
    Xtract cost of revenue     241,377       242,724    
    Total cost of revenue   $ 6,099,988     $ 1,626,347    
                 
    Gross profit   $ 10,258,019     $ 2,484,897    
                 
    Operating expenses          
    Selling and marketing   $ 5,593,432     $ 4,566,130    
    General and administration     7,479,609       6,813,847    
    Research and development     8,265,043       7,078,280    
    Loss on inventory write-down     175,042       346,374    
    Loss on retirement of assets     95,066       181,107    
    Total operating expenses   $ 21,608,192     $ 18,985,738    
                 
    Loss from operations     (11,350,173 )     (16,500,841 )  
                 
    Other income (loss)          
    Unrealized gain on investments           58,333    
    Realized loss on investment           (55,082 )  
    Interest and other income     285,318       161,117    
                 
    Loss and comprehensive loss for the year     $ (11,064,855 )   $ (16,336,473 )  
                 
    Weighted average number of shares     203,820,258       176,664,492    
                 
    Basic and diluted loss per share   $ (0.05 )   $ (0.09 )  
                 

    Consolidated Statements of Financial Position as at July 31, 2024 and 2023

    The following table is extracted from the Company’s consolidated financial statements and presented in Canadian dollars to demonstrate the Company’s financial position as at July 31, 2024 and July 31, 2023:

        July 31, 2024   July 31, 2023
    Assets      
    Current assets      
      Cash and cash equivalents $ 8,628,521     $ 8,327,449  
      Receivables   3,862,199       847,429  
      Prepaid expenses and deposits   949,012       1,026,668  
      Current portion of deferred cost of revenue   371,309        
      Inventory   3,688,246       1,602,971  
             
          17,499,287       11,804,517  
             
    Property and equipment   2,135,956       2,063,817  
    Intangible assets   4,465,755       4,843,700  
    Non-current portion of deferred cost of revenue   496,868        
    Right of use assets   344,304       286,796  
             
    Total assets $ 24,942,170     $ 18,998,830  
             
    Liabilities      
    Current liabilities      
      Accounts payable and accrued liabilities $ 3,991,292     $ 2,519,350  
      Current portion of deferred revenue   3,443,524       968,509  
      Current portion of lease liability   190,400       232,483  
             
          7,625,216       3,720,342  
             
    Non-Current liabilities      
      Non-current portion of deferred revenue   3,155,579       411,232  
      Non-current portion of lease liability   190,526       124,358  
             
        $ 10,971,321     $ 4,255,932  
             
    Shareholders’ equity      
      Share capital $ 144,372,452     $ 135,823,337  
      Contributed surplus   16,163,950       14,420,259  
      Accumulated deficit   (146,565,553 )     (135,500,698 )
             
        $ 13,970,849     $ 14,742,898  
             
    Total liabilities and shareholders’ equity $ 24,942,170     $ 18,998,830  
             


    Consolidated Statements of Cash Flows for the Years Ended July 31, 2024 and 2023

    The following table is extracted from the Company’s consolidated financial statements and presented in Canadian dollars to demonstrate the Company’s cash flows for the years ended July 31, 2024 and 2023:

              2024       2023    
    Cash flow used in operating activities          
      Loss and comprehensive loss for the year   $ (11,064,855 )   $ (16,336,473 )  
      Adjustment for:          
        Share-based compensation     1,036,744       950,536    
        Depreciation     1,303,571       923,764    
        Amortization     805,900       805,900    
        Finance cost     22,420       42,237    
        Loss on inventory     175,042       346,374    
        Loss on retirement of assets     95,066       181,107    
        Other income           (20,000 )  
        Realized loss on investments           55,082    
        Unrealized gain on investments           (58,333 )  
                   
              (7,626,112 )     (13,109,806 )  
      Changes in non-cash working capital          
        Receivables     (3,014,770 )     1,047,727    
        Prepaid expenses and deposits     77,656       (358,018 )  
        Inventory     (4,522,739 )     (2,198,583 )  
        Deferred cost of revenue     250,853          
        Accounts payable and accrued liabilities     1,471,942       (99,732 )  
        Deferred revenue     5,219,362       1,183,090    
                   
      Cash used in operating activities     (8,143,808 )     (13,535,322 )  
                   
    Cash flow used in investing activities          
      Acquisition of intangible assets     (427,955 )        
      Acquisition of right of use asset     (1,800 )        
      Purchase of property and equipment           (32,539 )  
      Disposal of investment – Gemina Labs           397,001    
                   
      Cash (used in) received from investing activities     (429,755 )     364,462    
                   
    Cash flow from financing activities          
      Proceeds on issue of share capital, net of share issue costs   9,256,062       15,583,660    
      Lease payments     (381,427 )     (362,672 )  
                   
      Cash received from financing activities     8,874,635       15,220,988    
                   
    Net increase in cash for the year   $ 301,072     $ 2,050,128    
                   
    Cash beginning of the year     8,327,449       6,277,321    
                   
    Cash end of the year   $ 8,628,521     $ 8,327,449    
                   

    The MIL Network

  • MIL-OSI Canada: Speaking notes for the Honourable Marc Miller, Minister of Immigration, Refugees and Citizenship: Government of Canada reduces immigration

    Source: Government of Canada News

    Speech

    Check against delivery. This speech has been translated in accordance with the Government of Canada’s official languages policy and edited for posting and distribution in accordance with its communications policy.

    Speech was delivered on October 24, 2024 in Ottawa, Ontario.

    Bonjour tout le monde. Good morning. Thank you for being here today.

    I’ll begin by acknowledging that we are gathering on the traditional and unceded territory of the Algonquin Anishinaabeg People.

    I’d like to acknowledge the Prime Minister, and my colleagues for being here today.

    Immigration is essential for our country’s economy and accounts for almost 100% of Canada’s labour force growth. In response to the global pandemic and labour shortages, we brought in temporary measures to attract some of the world’s best and brightest to study and work in Canada, which supported the urgent needs of businesses.

    The plan worked by helping our economy navigate a challenging period and recover more quickly.

    Since then, our economy and the world have changed. While we see signs of improvement, families and communities across the country continue to face challenges.

    The pressures on housing and social services require a more sustainable approach to welcoming newcomers. It is also clear that Canadians want the federal government to better manage the immigration system.

    For the first time, the Immigration Levels Plan includes targets for temporary residents, such as international students and temporary foreign workers, as well as for permanent residents. This more comprehensive approach to welcoming newcomers will help preserve the integrity of our immigration system, respond to the needs and challenges of communities, and set up newcomers for success by having adequate resources to support them.

    Temporary Resident Programs

    Over the last two years, 60% of all newcomers were temporary residents, including international students, temporary workers, and some arriving through humanitarian programs.

    This fast growth resulted in Canadians and newcomers facing challenges and integrity issues that we have already begun to address.

    Today’s plan fulfills the commitment I made earlier this year: to reduce volumes of temporary residents coming and staying in Canada.

    This brings temporary resident planning in line with permanent resident programs, providing greater predictability and transparency to our immigration system.

    For international students, we worked with partners to

    • implement a cap on international students
    • tighten controls on study permits, including the requirement for provincial attestation letters
    • limit access to work permits for graduates – including private-public partnerships that were driving up program admissions

    The changes have worked: in the first nine months of the year, we had fewer international students coming to Canada – down 43% compared to 2023. The result is that local communities face lower rental prices in parts of the country that saw large numbers of students in recent years, and international students are receiving better services and support. For example, in Vancouver, one- and two-bedroom apartment rental prices are down more than 10%, and Toronto over 8%.

    With my colleague, Minister Boissonnault, the government ended temporary pandemic measures regarding the Temporary Foreign Worker Program by bringing in restrictions and controls to limit access for companies employing low-wage workers.

    These changes will help our partners, including provinces, territories and municipalities, align their capacities and allow populations to grow at a more sustainable pace as we encourage institutions to do their part in better welcoming newcomers.

    Our plan reaffirms the government’s commitment to reduce non‑permanent resident volumes to 5% of Canada’s population by the end of 2026.

    With these reduction measures, Canada’s temporary population will decrease over the next few years as significantly more temporary residents will transition to permanent residents or leave Canada compared to new ones arriving. Specifically, compared to each previous year, we will see Canada’s temporary population decline by

    • 445,901 in 2025
    • 445,662 in 2026
    • a modest increase of 17,439 in 2027

    Our actions to-date and levels plan for 2025 will mean that the number of newcomers will decrease over the next few years because significantly more temporary residents will leave Canada compared to those new arrivals.

    Permanent Resident Programs

    It’s clear that our country still needs newcomers to help grow our economy, fill skills and labour gaps, and address challenges like building new homes and providing quality health care.

    With our aging population and people living longer, we need more workers to support important social programs like health care, public pensions and infrastructure.

    But we see the pressures facing our country and are adapting our policies so that Canadians and newcomers alike have access to the quality jobs, homes, and support they need to thrive.

    We have listened to Canadians. That is why we are adjusting the plan and reducing our permanent resident targets. The plan focuses on attracting skilled workers, helping reunite families, and resettling refugees.

    Canada will reduce its permanent immigration targets to align with our economic needs

    • from 500,000 down to 395,000 in 2025;
    • from 500,000 to 380,000 in 2026; and
    • setting a target of 365,000 in 2027.

    These lower permanent resident targets are expected to reduce the housing supply gap by about 670,000 units by the end of 2027.

    We will prioritize permanent resident spots for temporary residents like international students or temporary workers who are already in Canada, by facilitating their transition.

    This means over 40% of permanent residents will come from temporary residents that are already in Canada. These skilled, educated newcomers can continue to support the workforce and economy, without placing additional demands on our social services. Newcomers with experience in Canada show greater long-term success.

    Adjustments will be made to our economic immigration streams to prioritize the transition of workers already here to permanent residence and to be responsive to labour market needs – our In‑Canada Focus. We will put emphasis on our federal economic priorities in programs including provincial nominee programs, the Canadian Experience Class, and regional immigration programs to attract the workers we need such as those in health care and trades occupations.

    Canadians are proud of our country’s reputation as a leader in refugee resettlement. While our refugee resettlement targets are reduced as a result of overall reductions, our commitment to some of the world’s most vulnerable people remains.

    We also understand the importance of reuniting families and loved ones, including spouses, children, parents, and grandparents. That’s why we are continuing to allocate almost 24% of our overall permanent resident admissions to family immigration in 2025.

    And we continue to strengthen Francophone communities outside Quebec. We will target nearly 30,000 French-speaking newcomers in 2025, representing over 8.5% of total admissions, rising to 9.5% in 2026, and 10% of newcomers in 2027.

    This means that despite the decrease in overall PR targets, the number of Francophone newcomers that we hope to settle outside Quebec will continue to increase year over year. This will help support our plan to restore the demographic weight of Francophone communities outside of Quebec.

    Regularization

    Regarding undocumented individuals in Canada, we have been clear that a broad program would not be pursued. However, we will set a small number of admissions for individuals that would be regularized through an initiative focused on those that worked in essential service industries.

    Conclusion

    I want Canadians to know we are listening. We’re aware of our country’s current challenges and are stepping up to address Canada’s evolving needs.

    Our immigration plan will support our economy while responding to the pressures that families and communities are facing today.

    Canada’s immigration plan for the next three years will pause our population growth in the short term to maintain well‑managed and sustainable growth for the long term.

    Our changes over the last year are working. Today’s plan will build on our support for communities and employers while upholding our humanitarian commitments and Canadian values.

    We will pause growth from immigration for two years. It will allow us to get back on pre-pandemic population growth trajectory by 2027 so that over the long term we can continue to grow our economic and social prosperity through immigration.

    We are making immigration work and leveraging our existing programs so that everyone has access to the quality jobs, homes, and supports they need. We are supporting newcomers’ integration and giving them a fair shot in Canada.

    Thank you.

    MIL OSI Canada News

  • MIL-OSI Security: Moosomin First Nation — Battlefords RCMP seek public assistance locating missing 13-year-old female

    Source: Royal Canadian Mounted Police

    On October 23, 2024 at approximately 11:20 p.m., Battlefords RCMP received a report of a missing 13-year-old female, Nicole Katcheech.

    Nicole was last seen on October 23, 2024 at approximately 8:00 a.m. on Moosomin First Nation.

    Nicole is described as approximately 5’6″ tall and 170 lbs. She has brown eyes and dark brown – almost black – hair. Nicole was last seen wearing a black zip up sweater with silver details on it, light grey sweatpants, and a black and brown backpack. She also has a scar on her collarbone. A photo of her is attached.

    If you have seen Nicole or know where she is, contact Battlefords RCMP at 310-RCMP (7267). Information can also be submitted anonymously by contacting Saskatchewan Crime Stoppers at 1-800-222-TIPS (8477) or www.saskcrimestoppers.com.

    MIL Security OSI

  • MIL-OSI Security: RM of Grahamdale, Manitoba  — Gypsumville RCMP discharge firearm in stolen vehicle investigation

    Source: Royal Canadian Mounted Police

    On October 24, 2024, at approximately 12:00 pm, Gypsumville RCMP were patrolling for a stolen vehicle that was linked to a series of criminal activities that occurred overnight in the city of Thompson.

    Officers located the stolen vehicle on Highway 6 south of Pinaymootang First Nation and attempted a traffic stop. The driver refused to pull over.

    After a short pursuit, the vehicle came to a stop on Highway 6. The male suspect exited the stolen vehicle with a firearm and attempted to carjack a stopped car. At this time, an officer discharged their firearm, striking the male suspect.

    The suspect was then able to get into the stopped car and drive a short distance before coming to a stop in the ditch along Highway 6 where he was taken into custody.

    The suspect, a 39-year-old male from Thompson, was provided immediate medical attention by officers and transported by STARS to hospital with serious injuries.

    The officers involved did not sustain any physical injuries.

    The Independent Investigation Unit of Manitoba has taken carriage of the investigation.

    MIL Security OSI

  • MIL-OSI Global: MAiD and marginalized people: Coroner’s reports shed light on assisted death in Ontario

    Source: The Conversation – Canada – By Karandeep Sonu Gaind, Professor of Psychiatry, University of Toronto

    People who chose medically assisted death when they were not terminally ill were more likely to be marginalized than those who chose MAiD when death was already imminent. (Shutterstock)

    Earlier this month, the Office of the Chief Coroner for Ontario released new reports highlighting some of the reasons some Canadians have chosen medical assistance in dying (MAiD, which in Canada involves euthanasia — meaning medically-administered injection rather than self-administered — over 99.9 per cent of the time).

    The reports have received international attention for what they highlight, including patients being euthanized despite untreated mental illness and addictions, unclear medical diagnoses and suffering fuelled by housing insecurity, poverty and social marginalization.

    Some are shocked by what these reports reveal, but none should be surprised. This is what happens when you let the foxes run the henhouse, as Canada has arguably done by allowing right-to-die advocacy to shape policy and replace evidence.

    Canada’s medical assistance in dying (MAiD) laws, introduced for those in terminal situations, were expanded by the Trudeau government in 2021 to allow death by MAiD via “Track 2” to Canadians struggling with disabilities who were not dying. In 2023, Track 2 represented 2.6 per cent of the 4,644 MAiD deaths in Ontario, or 116 people.

    I am not a conscientious objector. I am a psychiatrist and previously chaired my former hospital’s MAiD team. However, I believe we’ve experienced a bait and switch: laws initially intended to compassionately help Canadians avoid suffering a painful death have metastasized into policies facilitating suicides of other Canadians seeking death to escape a painful life.

    The coroner’s reports show how far over the cliff we’ve fallen with Track 2 MAiD.

    Marginalization and MAiD

    Many have warned for years that when facilitated suicide is expanded to those with disabilities who have decades left to live, it is impossible to filter out suffering due to poverty, loneliness and other marginalization fueling MAiD requests. The medical disability becomes the foot in the door to open eligibility for MAiD, but social suffering pushes the marginalized through that door to seek state-sponsored death for their life struggles.

    The coroner’s report uses a marginalization index based on area of residence (similar to the way impacts on marginalized populations were identified during COVID-19) to divide the population into five levels, each representing 20 per cent of the population. The data shows a much higher proportion of Track 2 MAiD recipients come from highly marginalized categories than Track 1 MAiD recipients, or the general population.

    People in the lowest “material resource” category (i.e. poverty) represent 20 per cent of the general population, but they make up 28.4 per cent of Track 2 MAiD recipients, compared to 21.5 per cent of Track 1 recipients.

    People in the lowest 20 per cent of the population with the worst housing instability made up 48.3 per cent of Track 2 MAiD recipients, compared to 34.3 per cent of Track 1 recipients. Track 2 recipients were also far more likely to come from the most vulnerable 20 per cent of the population in terms of age and labour force participation, with 56.9 per cent of Track 2 MAiD recipients coming from this category compared to 41.8 per cent of Track 1 MAiD recipients.

    Gender gaps of more women than men receiving Track 2 MAiD are also emerging.

    Additionally the report shed light on specific cases of concern, including people receiving Track 2 MAiD for social and housing vulnerability, and for unclear reasons while still suffering from inadequately treated mental illness and addictions.

    This includes a man with a history of suicidal ideation and untreated addictions whose psychiatrist asked during a session whether he was aware of MAiD. After being approved, he was “personally transported (by the MAiD provider) in their vehicle to an external location for the provision of MAiD”.

    Denialism

    Policy mistakes can occur, but these marginalized deaths result from wilful avoidance and denial of evidence-based cautions. I have previously written of the lack of safeguards and absence of evidence informing MAiD expansion.

    Beyond the evidence in the coroner’s report, there are clear signs of this denial:

    It doesn’t concern me, in the sense that I don’t think anybody knows what it means. We can make all sorts of hypotheses about what it might mean, but nobody really knows. What I would caution you about is drawing inferences, like the one in your question with respect to male-to-female suicide ratios, because we don’t know what it means.” (It should be noted that there is longstanding evidence of a 2:1 gender gap of more women than men attempting suicide when mentally ill, most of whom do not die by suicide and do not try again.)

    These repeated refusals to have our MAiD expansion be informed by evidence have led to a MAiD house of cards wilfully blind to suicide risks.

    Denialism of all sorts is dangerous. Canada’s expanded MAiD policies have fallen prey to a new form of it: suicide denialism. What else can it be called when expansion ideologues repeatedly ignore and deny the fact that some Canadians are getting Track 2 MAiD fuelled not by illness suffering, but by known suicide risk factors of social deprivation?

    ‘Social murder’

    People in the lowest ‘material resource’ category represent 20 per cent of the general population, but they make up 28.4 per cent of Track 2 MAiD recipients, compared to 21.5 per cent of Track 1 recipients.
    (Shutterstock)

    Some expansion advocates have already creatively dismissed concerns about the coroner reports. The head-scratching argument is that since marginalization leads to higher death rates of the marginalized anyway (gently referred to as “decedents”), the fact that Track 2 MAiD is provided to marginalized people at the same or slightly lower rates than their usual high “decedent” rates means MAiD is not a risk to the marginalized. There is even the bold suggestion that “MAiD narrows the gap between privileged and deprived.”

    The remarkable blind spot of this privileged perspective is obvious: none of the marginalized receiving Track 2 MAiD would have died if they had not gotten MAiD; even their own MAiD assessors predicted they would have over another decade of life to live (otherwise they would have been Track 1).

    Arguing that a higher proportion of marginalized people dying from Track 2 MAiD is acceptable because they die at similar rates anyway is disturbing and revealing. Most people in Canada are aware of the issue of Indigenous youth disenfranchisement and suicide. Consider the natural implications of this dangerous argument. Death rates for First Nations youth under 20 are three to five times higher than youth death rates for non-Indigenous populations, driven by suicide and unintentional injuries. Does MAiD expansionist logic suggest that it would be acceptable to provide high levels of Track 2 MAiD to First Nations 19-year-olds since their social disenfranchisement puts them at higher risk of death anyway?

    Claiming that state-facilitated death fuelled by social deprivation is acceptable since more marginalized people die from social deprivation and structural inequities anyway is indistinguishable from eugenics.

    During COVID-19, some suggested our social policies linked to marginalized deaths were enabling “social murder,” a term coined by Friedrich Engels in the 19th century describing working conditions causing premature deaths of English workers. How should we describe Canadian policy providing state facilitated deaths to non-dying marginalized individuals fuelled by social suffering?

    I previously wrote about how our MAiD expansion is setting the stage for a future prime minister issuing a national apology. Beyond apologies, tobacco companies recently were held accountable for a $32.5 billion settlement resulting from claims they “knew their product was causing cancer and failed to warn consumers adequately.”

    No medication comes to market without evidence of safety, yet policymakers have ignored known evidence and have instead expanded MAiD while failing to warn Canadians adequately of the risks of premature death posed by Track 2 MAiD to those suffering from social marginalization.

    Social murder is a jarring term. If we don’t want to be charged with providing it, it’s time policymakers honestly acknowledged the suffering for which some marginalized Canadians are receiving state sponsored MAiD, rather than taking refuge behind “small numbers” justifications and suicide denial.

    Karandeep Sonu Gaind is affiliated with the Ontario District Branch of the American Psychiatric Association (president).

    ref. MAiD and marginalized people: Coroner’s reports shed light on assisted death in Ontario – https://theconversation.com/maid-and-marginalized-people-coroners-reports-shed-light-on-assisted-death-in-ontario-241661

    MIL OSI – Global Reports

  • MIL-OSI Canada: Standing up for Alberta’s livestock industry

    Source: Government of Canada regional news

    [embedded content]

    The federal government’s Bill C-293, An Act respecting pandemic prevention and preparedness, is currently moving through the Senate, despite the risks it brings to the agriculture and food industry. Alberta’s government is standing with industry members against this highly intrusive legislation that unfairly singles out the agriculture and food industry and encroaches on Section 95 of the Constitution, which sets agriculture within the exclusive jurisdiction of the province.

    Under the proposed legislation, public health officials would have the authority during a pandemic to close facilities they consider “high risk,” such as livestock operations and meat processing plants, and even “mandate” the consumption of vegetable proteins by Canadians. Not only would this threaten global food security and the role Alberta and Canada play in feeding the world, but it would also open the door for the federal government to tell Canadians what they can eat.

    “Farming is woven into the fabric of our national identity, with modern livestock agriculture playing a vital role. Bill C-293, however, goes so far as to pick winners and losers within the agriculture sector, with potentially wide-reaching, catastrophically damaging regulations and restriction of commercial freedoms for agricultural producers and processors.”

    RJ Sigurdson, Minister of Agriculture and Irrigation

    The proposed legislation also introduces several public health mitigation strategies that may not align with local health data and do not adequately reflect specific regional needs. Provinces and territories have exclusive jurisdiction over the planning, organization and management of their health care systems, including response to public health emergencies, and the federal bill would once again enable the federal government to overreach their constitutional jurisdiction.

    “Local governing bodies are in the best position to create emergency preparedness plans that suit the unique needs of their province and territory. The federal government should be engaging meaningfully with each jurisdiction on any Pandemic Prevention and Preparedness Plan related to Bill C-293 before being implemented.”

    Adriana LaGrange, Minister of Health

    One of the bill’s most alarming aspects is the discretionary power it would grant to officials to shut down agricultural facilities without clear, objective criteria. Such uninformed actions could disrupt not only meat supply chains, but also the wider agricultural operations linked to them, including feed production. This threatens to destabilize related sectors and could trigger cascading effects throughout the entire food system.

    Additionally, the bill seeks to regulate and possibly phase out certain farming practices considered high-risk for pandemic propagation. This could abruptly alter farm and ranch operations, significantly affect producers and processors livelihoods, and negatively impact our economic stability.

    Key Canadian agricultural organizations representing the province’s agriculture sectors are echoing Alberta’s concerns about this bill.

    “Our Alberta family farms are committed to producing safe, high-quality chicken while maintaining the highest standards of biosecurity. We support pandemic preparedness, but Bill C-293 unfairly targets animal agriculture and could threaten the livelihoods of our farm families. We are asking the federal government to ensure this bill is amended so farmers can continue to feed Canadians without facing unnecessary restrictions.”

    David Hyink, chair, Alberta Chicken Producers

    “Alberta Beef Producers supports the overall objective of pandemic preparedness. However, we are disappointed in the current wording of Bill C-293, as it unfairly singles out animal agriculture, despite the industry’s critical role in food security and rural economies. We urge policymakers to amend the bill to reflect a balanced and fair approach that supports emergency preparedness without unfairly targeting a single sector.”

    Doug Roxburgh, vice-chair, Alberta Beef Producers

    The legislation purports to examine pandemic preparedness and apply learnings from COVID-19, but it has dangerously imprecise language that is open to drastic interpretations. For example, the bill provides for measures to “regulate commercial activities that can help reduce pandemic risk, including industrial animal agriculture.” The bill also suggests phasing out “commercial activities that disproportionately contribute to pandemic risk,” which puts Alberta’s agriculture industry at risk, in addition to others.

    Alberta has sent a letter to Alberta senators and the ministers of Agriculture and Agri-Food Canada and Health Canada to relay concerns with the bill’s content. Minister Sigurdson requested that the bill be amended with more flexible language to avoid unintended consequences.

    Canada already has legislation, animal disease surveillance and action plans to ensure farm food safety and biosecurity programs reduce risks associated with zoonotic disease. This new legislation is therefore unnecessary, especially in its current form.

    Quick facts

    • The bill would require the development of a human pandemic prevention and preparedness plan; however, after consultation with the Minister of Agriculture and Agri-Food Canada and provincial governments, the bill alludes to:
      • regulating industrial animal agriculture to reduce any possible contribution to pandemic risk (zoonotic diseases);
      • phasing out farming of livestock species that might pose a high risk; and
      • promoting alternative protein sources for human consumption.
    • The bill also contains measures that would be redundant in noted areas of concern around disease surveillance, regulation of livestock production and antimicrobial resistance.
      • Intensive livestock and poultry production carries some risk for zoonotic diseases like influenza in swine or poultry or coronaviruses in swine or cattle, but Canada’s on-farm food safety and biosecurity programs greatly reduce those risks.
      • The notion of sacrificing Canadian production levels and exports without assessing the disease risk in a global context, by comparing to livestock markets and production systems in other countries, could result in wide-reaching economic and global food security implications.
    • The bill outlines the requirement to form an advisory committee within 90 days after being passed.
      • This may provide some ability to influence the course of direction, but it is unclear what power the advisory committee would have.

    Multimedia

    • Watch the news conference

    MIL OSI Canada News

  • MIL-OSI Canada: Minister Anandasangaree and Anishinabek Nation strengthen Indigenous-led education

    Source: Government of Canada News

    Please be advised that the Honourable Gary Anandasangaree, Minister of Crown-Indigenous Relations, along with Lise Kwekkeboom, Vice Chair of the Kinoomaadziwin Education Body Board, will make an announcement regarding self-governing, Anishinabek Nation-led education.

    North Bay, Ontario — Please be advised that the Honourable Gary Anandasangaree, Minister of Crown-Indigenous Relations, along with Lise Kwekkeboom, Vice Chair of the Kinoomaadziwin Education Body Board, will make an announcement regarding self-governing, Anishinabek Nation-led education.

    The event will begin at 1 p.m. (ET) with an opening prayer, followed by remarks by Anishinabek Nation Grand Council Chief Linda Debassige.

    Minister Anandasangaree will make an announcement at 1:30 p.m. (ET). Followed by remarks from Lise Kwekkeboom, Vice Chair, Kinoomaadziwin Education Body Board and Chief Judy Desmoulin, Long Lake #58 First Nation.

    Media participation:

    Media may arrive at 12:30 p.m. to capture B-roll footage and are welcome to film remarks. Partners kindly ask the media to avoid filming the opening drum circle.

    Following the announcement there will be a question-and-answer (Q&A) session for the media at 2 p.m.

    Date: Friday, October 25, 2024

    Time: 1 p.m. ET

    Media Q&A: 2 p.m. ET

    Where: Suite 100
    132 Osprey Miikan Road
    North Bay, ON  P1B8G5

    Gregory Frame
    Press Secretary
    Office of the Honourable Gary Anandasangaree
    Minister of Crown-Indigenous Relations
    gregory.frame@rcaanc-cirnac.gc.ca

    Eva Brown
    Communications Manager
    Kinoomaadziwin Education Body
    807-372-0270
    eva.brown@a-e-s.ca

    MIL OSI Canada News

  • MIL-OSI USA: Washington Rail Systems to Receive $115M in Infrastructure Upgrades

    US Senate News:

    Source: United States Senator for Washington Maria Cantwell

    10.24.24

    Washington Rail Systems to Receive $115M in Infrastructure Upgrades

    Nine projects awarded include $37.7M for RR that moves Eastern WA wheat, $26.3M for Port of Kalama rail expansion to load grain exports faster; Awards also go to projects in Tacoma, Moses Lake, Chewelah, Rainier, Ferry County, and Puget Sound Rail Corridor

    SPOKANE, WA – Today, U.S. Senators Maria Cantwell (D-WA), chair of the Senate Committee on Commerce, Science, and Transportation, and Patty Murray (D-WA), chair of the Senate Appropriations Committee, announced nine major investments in Washington state’s rail system infrastructure, totaling $115,577,598.

    The improvements will boost railroad capacity all across the state, helping move freight and agricultural products quickly and more safely between our communities and on to international markets.

    The grants come from the Federal Railroad Administration’s (FRA) Consolidated Rail Infrastructure and Safety Improvements (CRISI) Program, which funds projects that improve the safety, efficiency, and reliability of intercity passenger and freight rail.

    The Washington State Department of Transportation (WSDOT) received $37,700,000 million for final design and construction of rehabilitation of the Palouse River & Coulee City Railroad (PCC). This is in addition to a $72.8 million CRISI grant for the railroad project that WSDOT received last year.

    “Wheat farmers in the state rely heavily on the Washington State Grain Train to help export 90 percent of the product they grow. This funding will replace lightweight, 100-year-old, worn rail with 34 miles of upgraded heavyweight track to accommodate heavy railcars, allowing train speeds to double, helping farmers get their goods to market more efficiently,” Sen. Cantwell said.

    “Washington state growers need fast and reliable transportation systems to get their products to market, especially if they want to compete in tough international markets—this is critical for our wheat growers and this major federal investment will help ensure Washington state farmers have the kind of infrastructure they need to succeed,” said Sen. Murray. “This is the Bipartisan Infrastructure Law at work—strengthening supply chains and upgrading our infrastructure so that America can compete and win the 21st century.”

    This PCC project is part of a multi-phase effort to improve the railroad system so it can handle heavier, faster rail cars and better withstand extreme weather conditions. Grant funding will help replace light-weight worn rail and rotten railroad ties, as well as rebuild dilapidated roadway crossings and surface tracks. Federal funds will cover 65% of the total project cost.

    The PCC serves a critical part of the wheat supply chain in Eastern Washington. This project will help ensure rural Eastern Washington agricultural products remain competitive in the global marketplace, by helping products reach customers faster. Rehabilitation of this freight corridor is important to maintain the region’s economic viability. By keeping rail shipments available and competitive, this project will reduce road maintenance, enhance economic development, improve the environment, and bring long-term jobs to rural communities.

    The Port of Kalama received $26,323,386 for a rail expansion project.

    “The Port of Kalama is already one of the largest grain export terminals on the West Coast. This funding will increase the port’s grain terminal efficiency by 25-30 percent meaning that farmers not just from Washington, but as far east as Wisconsin, can get their products to market faster,” Sen. Cantwell said.

    “These new replacement tracks are going to help the Port of Kalama transport even more goods, including grain, from rail to ship, faster than ever by allowing it to store empty trains at the port,” said Sen. Murray. “This is going to be a real boost for trade in the region, and it is exactly what the Bipartisan Infrastructure Law looks like at work—strengthening supply chains and upgrading our infrastructure so that America can compete and win the 21st century.”

    The proposed project will replace rail tracks at the Port of Kalama in Washington. The replacement tracks will support storage of two loaded and two empty trains simultaneously at the port. The project is expected to increase loading efficiency in the direct loading of grain from rail to ship by up to 30 percent. The Port of Kalama will contribute a 20 percent match. Sen. Cantwell wrote a letter in support of the project to U.S. Secretary of Transportation Pete Buttigieg, that letter is available HERE. Sen. Murray wrote a letter of support for the project to U.S. Secretary of Transportation Pete Buttigieg.

    The St. Paul & Pacific Northwest Railroad Company received $23,469,151 to improve track along the railroad’s main line in northeast Washington.

    “The St. Paul & Pacific Northwest railroad transports two million tons of lumber and other goods annually across Eastern Washington. With this funding, the railroad will upgrade and rehabilitate over 80 miles of mainline track, speeding products to market more safely and reliably,” Sen. Cantwell said.

    “This funding is going to help update outdated rail infrastructure that Washington state businesses and consumers rely on—this means safer, more efficient rails while creating good paying jobs,” said Sen. Murray. “This is the Bipartisan Infrastructure Law at work—strengthening supply chains and upgrading our infrastructure so that America can compete and win the 21st century.”

    The proposed project on this line between Chewelah, WA and Columbia Gardens, British Columbia, will replace approximately 18 miles (in two sections) of older jointed rail with 136 lb. continuous welded rail and install approximately 85,000 new concrete and steel rail ties along the entire line. This will upgrade the line to meet FRA Class 3 classification requirements, which improves safety and reliability. St. Paul & Pacific Northwest will contribute a 21 percent match. Sen. Cantwell wrote a letter in support of the project to Sec. Buttigieg, that letter is available HERE. Sen. Murray wrote a letter of support for the project to U.S. Secretary of Transportation Pete Buttigieg.

    The Columbia Basin Railroad Company, which operates between Moses Lake and Connell in central Washington, received $11,552,000 to rehabilitate approximately 10 miles of their railroad line.

    “The Columbia Basin Railroad serves over 50 businesses and is a lifeline for Washington farmers and exporters across Grant, Lincoln, Spokane, Adams, and Whitman counties. This funding will facilitate critically needed track repairs which will enable increased freight capacity and operating speeds,” Sen. Cantwell said.

    “When it comes to the rails our trains travel every day—and which connect companies and communities across Washington state with crucial goods, services, and opportunities—it is important we have safe, reliable tracks,” said Sen. Murray. “By helping to replace some 8,000 cross ties, and 10 miles of rail, this funding will help us make sure the tracks serving the Columbia Basin are in tip top shape and will safely increase operating speeds and capacity. This is the Bipartisan Infrastructure Law at work—strengthening supply chains and upgrading our infrastructure so that America can compete and win the 21st century.”

    The proposed project will replace approximately ten miles of rail and approximately 8,000 cross ties on the Columbia Basin Railroad. This will enhance safety and improve system performance as the project will return the line to a state of good repair, increase operating speeds, and allow for increased capacity to move freight, benefitting over 50 customers served by the Columbia Basin Railroad. Columbia Basin Railroad will contribute a 20 percent match.

    Tacoma Rail received $8,316,000 to replace the engines of four old locomotive with new Tier 4 diesel electric engines that will reduce harmful NOx emissions by about 90 percent. This is in addition to $4.095 million the railroad received last year to replace two high-polluting diesel electric switcher locomotives with two zero-emission battery-electric switcher locomotives. Sen. Murray wrote a letter of support for the project to U.S. Secretary of Transportation Pete Buttigieg.

    “With this grant funding, Tacoma Rail will replace the engines of four old locomotives with new clear diesel electric engines. This will reduce emissions by 200 tons per year and reduce fuel consumption by more than 18,000 gallons of diesel fuel annually. A significant step in contributing to the region’s climate action goals and reducing shipping costs for farmers,” Sen. Cantwell said.

    “This investment will help ensure we reduce carbon emissions while still moving freights as quickly and efficiently as possible—and creating good-paying jobs in the process,” said Sen. Murray. “This is the Bipartisan Infrastructure Law at work—helping us build a stronger clean energy economy while upgrading our national infrastructure.”

    Tier 0 project locomotives are equipped with diesel engines that were built between 1973 and 1992 – before the first federal EPA emission standards for locomotives were developed in 1997. The new engines will eliminate the consumption of more than 18,000 gallons of diesel fuel a year, which is expected to reduce up to 200 short tons of greenhouse gas emissions. These new locomotives will help the City of Tacoma and Port of Tacoma achieve local, county, regional, and state air quality and climate goals.

    WSDOT’s Puget Sound Rail Corridor Improvement Project received $6,451,894.25 to improve safety and help prevent winter weather delays. 

    “The Puget Sound Rail Corridor Improvement Project will upgrade rail switches between Everett and Vancouver, lowering maintenance costs and reducing weather delays for the two million passengers that ride Amtrak and Sound Transit each year,” Sen. Cantwell said.

    “I’m pleased to see this funding come back to Washington state to help keep trains running through our Puget Sound Corridor quickly, smoothly, and safely. Steps to tackle issues like eliminating gaps and preventing ice and snow build up are crucial to keep our tracks open and trains running full steam ahead—which is why this funding is so important. This is the Bipartisan Infrastructure Law at work—strengthening supply chains and upgrading our infrastructure so that America can compete and win the 21st century,” said Sen. Murray.

    The proposed project will eliminate potentially dangerous gaps between rails and install electrically powered heaters on turnouts to prevent ice and snow buildup. This will enhance resilience, safety, and performance. The Washington State Department of Transportation and BNSF will contribute a 50 percent match.

    Rainier Rail received $1,765,167 to improve four bridges in Western Washington, including the Minnesota St. Bridge in Rainier, WA.

    “Rainier Rail provides important transportation connections for goods including aircraft materials and animal feed moving through western Washington. This project will improve their track capacity and replace aging rail ties to ensure they can continue serving customers in our state,” Sen. Cantwell said.

    “This investment will help modernize existing infrastructure so that Rainier Rail can accommodate more freight, getting more goods to where they need to go more quickly,” said Sen. Murray. “This is the Bipartisan Infrastructure Law at work—strengthening supply chains and upgrading our infrastructure so that America can compete and win the 21st century.”

    The bridge improvements include replacement of structural components, increasing clearance on the Minnesota St. Bridge, installing larger rail to accommodate 286,000 lb. railcars, and replacing aging rail ties. The project will create a safer, more resilient, and environmentally sustainable rail network in the region as it will address safety concerns, environmental preservation, capacity limitations, climate resilience, and supply chain efficiency. Rainier Rail will contribute a 21 percent match.

    A portion of two other grants announced today will fund rail upgrades in Washington state.

    OmniTRAX received $50,570,400 to replace of railroad ties on four OmniTRAX-owned short lines across four states – including a line in Ferry County.

    “Kettle Falls Railroad is a strategic rail asset in Ferry County, supporting millions of dollars in economic activity in Washington state. This funding will install new ties along nearly 30 miles of rail enabling freight to move more reliably and efficiently in Northeast Washington,” Sen. Cantwell said.

    “This funding will help deliver timely infrastructure updates in Washington state—meaning safer, more efficient, and more resilient railways,” said Sen. Murray. “This is the Bipartisan Infrastructure Law at work—strengthening supply chains and upgrading our infrastructure so that America can compete and win the 21st century.”

    OmniTRAX will install 24,513 ties on approximately 29.9 miles of the KFR San Poil Subdivision near Danville, Washington. The line connects Kettle Falls to Grand Forks, Canada. The project will harden rail assets and update infrastructure, which will benefit rail users served by the short lines. OmniTRAX will contribute a 20 percent match. Sen. Cantwell wrote a letter in support of the project to Sec. Buttigieg, that letter is available HERE. Sen. Murray wrote a letter of support for the project to U.S. Secretary of Transportation Pete Buttigieg.

    Watco Companies received $19,843,062 to replace diesel locomotives with battery electric, zero emission locomotives at their facilities, including the Packaging Corporation of America in Washington.

    “With this funding we are replacing old diesel locomotives with clean battery electric, zero emission locomotives—that helps us cut down on harmful emissions and unhealthy pollution from diesel,” said Sen. Murray. “This is the Bipartisan Infrastructure Law at work—helping us build a stronger clean energy economy while upgrading our national infrastructure.”

    The U.S. Department of Transportation is providing $2.477 billion in CRISI grants to 122 projects across the nation this year.

    Sen. Cantwell secured $5 billion over 5 years for the CRISI program in her Surface Transportation Investment Act which was included in the 2021 Bipartisan Infrastructure Law, tripling annual funding for the program.

    The funding for the CRISI program comes from a mixture of annual appropriations and the Bipartisan Infrastructure Law—as Senate Appropriations Chair, Sen. Murray authors the annual appropriations bills and, as then Assistant Majority Leader, she played a critical role in passing the Bipartisan Infrastructure Law. Sen. Murray secured a total of $2.97 billion for the Federal Railroad Administration in the fiscal year 2024 government funding bill she negotiated and passed into law and set aside $100,000,000 specifically for the competitive CRISI grants.

    Sen. Murray also passed into law major reforms and oversight provisions to address the rail safety deficiencies identified in the East Palestine, Ohio, train derailment, providing a $27.3 million increase for FRA’s safety and operations budget for rail safety inspectors in the Fiscal Year 2024 government funding bills. Murray also included language directing specific research requirements for: (1) wayside detection technology, operational alert thresholds, and rail carrier response protocols to inform and verify the technologies capabilities and establish industry-wide standards; and (2) long-train operational safety to evaluate equipment safety standards for brake systems and wheel performance to inform the development of continuous component monitoring. Sen. Murray also increased funding for the Pipeline and Hazardous Materials Safety Administration’s (PHMSA) emergency preparedness grants to $46.825 million and required the agency to conduct research to improve the survivability of placards identifying hazardous materials on trains. Sen. Murray is currently negotiating and working to pass into law Fiscal Year 2025 funding bills and the Senate funding bill Sen. Murray passed out of committee builds on these efforts to improve rail safety and strengthen rail safety funding.

    MIL OSI USA News

  • MIL-OSI Global: South Africa amended its research guidelines to allow for heritable human genome editing

    Source: The Conversation – Canada – By Françoise Baylis, Distinguished Research Professor, Emerita, Dalhousie University

    New genome editing technologies mean that the genetic modification of embryos is a scientific possibility, and laws governing its practice require extensive public consultation. (Shutterstock)

    A little-noticed change to South Africa’s national health research guidelines, published in May of this year, has put the country on an ethical precipice. The newly added language appears to position the country as the first to explicitly permit the use of genome editing to create genetically modified children.

    Heritable human genome editing has long been hotly contested, in large part because of its societal and eugenic implications. As experts on the global policy landscape who have observed the high stakes and ongoing controversies over this technology — one from an academic standpoint (Françoise Baylis) and one from public interest advocacy (Katie Hasson) — we find it surprising that South Africa plans to facilitate this type of research.

    In November 2018, the media reported on a Chinese scientist who had created the world’s first gene-edited babies using CRISPR technology. He said his goal was to provide children with resistance to HIV, the virus that causes AIDS. When his experiment became public knowledge, twin girls had already been born and a third child was born the following year.

    The fate of these three children, and whether they have experienced any negative long-term consequences from the embryonic genome editing, remains a closely guarded secret.

    Controversial research

    Considerable criticism followed the original birth announcement. Some argued that genetically modifying embryos to alter the traits of future children and generations should never be done.

    Genetically modifying embryos to alter the traits of future children and generations has immense societal impacts.
    (Shutterstock)

    Many pointed out that the rationale in this case was medically unconvincing – and indeed that safe reproductive procedures to avoid transmitting genetic diseases are already in widespread use, belying the justification typically given for heritable human genome editing. Others condemned his secretive approach, as well as the absence of any robust public consultation, considered a prerequisite for embarking on such a socially consequential path.

    In the immediate aftermath of the 2018 revelation, the organizing committee of the Second International Summit on Human Genome Editing joined the global uproar with a statement condemning this research.

    At the same time, however, the committee called for a “responsible translational pathway” toward clinical research. Safety thresholds and “additional criteria” would have to be met, including: “independent oversight, a compelling medical need, an absence of reasonable alternatives, a plan for long-term follow-up, and attention to societal effects.”

    Notably, the additional criteria no longer included the earlier standard of “broad societal consensus.”

    Nobel laureate David Baltimore, chair of the organizing committee for the Second International Summit on Human Genome Editing, talks about the importance of public global dialogue on gene editing.

    New criteria

    Now, it appears that South Africa has amended its Ethics in Health Research Guidelines to explicitly envisage research that would result in the birth of gene-edited babies.

    Section 4.3.2 of the guidelines on “Heritable Human Genome Editing” includes a few brief and rather vague paragraphs enumerating the following criteria: (a) scientific and medical justification; (b) transparency and informed consent; (c) stringent ethical oversight; (d) ongoing ethical evaluation and adaptation; (e) safety and efficacy; (f) long-term monitoring; and (g) legal compliance.

    While these criteria seem to be in line with those laid out in the 2018 summit statement, they are far less stringent than the frameworks put forth in subsequent reports. This includes, for example, the World Health Organization’s report Human Genome Editing: Framework for Governance (co-authored by Françoise Baylis).

    Alignment with the law

    Further, there is a significant problem with the seemingly permissive stance on heritable human genome editing entrenched in these research guidelines. The guidelines clearly require the research to comply with all laws governing heritable human genome research. Yet, the law and the research guidelines in South Africa are not aligned, which entails a significant inhibition on any possible research.

    This is because of a stipulation in section 57(1) of the South African National Health Act 2004 on the “Prohibition of reproductive cloning of human beings.” This stipulates that a “person may not manipulate any genetic material, including genetic material of human gametes, zygotes, or embryos… for the purpose of the reproductive cloning of a human being.”

    When this act came into force in 2004, it was not yet possible to genetically modify human embryos and so it’s not surprising there’s no specific reference to this technology. Yet the statutory language is clearly wide enough to encompass it. The objection to the manipulation of human genetic material is therefore clear, and imports a prohibition on heritable human genome editing.

    Ethical concerns

    The question that concerns us is: why are South Africa’s ethical guidelines on research apparently pushing the envelope with heritable human genome editing?

    In 2020, we published alongside our colleagues a global review of policies on research involving heritable human genome editing. At the time, we identified policy documents — legislation, regulations, guidelines, codes and international treaties — prohibiting heritable genome editing in more than 70 countries. We found no policy documents that explicitly permitted heritable human genome editing.

    It’s easy to understand why some of South Africa’s ethicists might be disposed to clear the way for somatic human genome editing research. Recently, an effective treatment for sickle cell disease has been developed using genome editing technology. Many children die of this disease before the age of five and somatic genome editing — which does not involve the genetic modification of embryos — promises a cure.

    Somatic genome editing may provide a cure for sickle cell disease.
    (Shutterstock)

    Implications on future research

    But that’s not what this is about. So, what is the interest in forging a path for research on heritable human genome editing, which involves the genetic modification of embryos and has implications for subsequent generations? And why the seemingly quiet modification of the guidelines?

    How many people in South Africa are aware that they’ve just become the only country in the world with research guidelines that envisage accommodating a highly contested technology? Has careful attention been given to the myriad potential harms associated with this use of CRISPR technology, including harms to women, prospective parents, children, society and the gene pool?

    Is it plausible that scientists from other countries, who are interested in this area of research, are patiently waiting in the wings to see whether the law in South Africa prohibiting the manipulation of human genetic material will be an insufficient impediment to creating genetically modified children? Should the research guidelines be amended to accord with the 2004 statutory prohibition?

    Or if, instead, the law is brought into line with the guidelines, would the result be a wave of scientific tourism with labs moving to South Africa to take advantage of permissive research guidelines and laws?

    We hope the questions we ask are alarmist, as now is the time to ask and answer these questions.

    Katie Hasson, Associate Director at the Center for Genetics and Society, co-authored this article.

    Françoise Baylis is affiliated with the International Science Council, the UNESCO World Commission on the Ethics of Scientific Knowledge and Technology (COMEST) and the Royal Society of Canada.

    ref. South Africa amended its research guidelines to allow for heritable human genome editing – https://theconversation.com/south-africa-amended-its-research-guidelines-to-allow-for-heritable-human-genome-editing-241136

    MIL OSI – Global Reports

  • MIL-Evening Report: Wrongly convicted of a crime? Your ability to clear your name can come down to your postcode

    Source: The Conversation (Au and NZ) – By Kylie Lingard, Senior lecturer, University of Wollongong

    Shutterstock

    If you’re found guilty of a crime, it’s a basic principle of Australian law that you have a right to appeal.

    But having a right and being able to exercise it are two different things, especially when it comes to fresh evidence casting doubt on your conviction.

    In Australia, your ability to challenge a conviction with fresh evidence depends on where you live, because each state and territory has different rules. Too often, it also depends on the resources someone can access, including money and knowledge of the legal system.

    Everyone should have the same opportunities to clear their name, so how can we make accessing appeals more equitable?

    State by state

    Direct pathways to appeal differ between the states and territories.

    In all postcodes, it’s difficult to get appeal courts to consider fresh evidence in the first instance.

    South Australia, Tasmania, Victoria, Western Australia, Queensland and the ACT allow multiple appeal applications if “fresh and compelling” evidence emerges after your first appeal. Since 2013, six convictions have been quashed this way, including Henry Keogh’s in SA after the state coroner recanted trial evidence.

    Tasmania and WA allow subsequent appeals only for serious offences, while SA has no such restriction.

    New South Wales and the Northern Territory don’t allow subsequent appeals, so people there have less direct access to the courts if wrongly convicted.

    There are, however, indirect ways people can seek an appeal with fresh evidence.

    In all states, you can ask the government to refer your case back to an appeal court. For example, the Victorian Attorney-General referred Faruk Orman’s case after evidence emerged about his lawyer’s misconduct. Referral decisions are made in secret and not reviewable.

    In the ACT, you can ask the Supreme Court for a judicial inquiry into your conviction. If you get an inquiry, the inquiry officer can refer your case back to the appeal court if they find reasonable doubt. This led to David Eastman’s conviction being quashed.

    These inquiries are only available if the issue can’t be properly addressed in an appeal, for example because the time for filing an appeal has lapsed. But, the ACT introduced subsequent appeals in 2024 which have no time limit, so it is unclear whether this pathway is still usable.

    In NSW, you can ask the government for an inquiry, but decisions are made in secret and open to political and media influence. This pathway led to Kathleen Folbigg’s acquittal.

    You can also ask the NSW Supreme Court for an inquiry or direct referral of your case back to the appeal court. This path is available for all offences and sentences and decisions are public. Since 2014, 59 conviction review applications to the NSW Supreme Court have resulted in one inquiry order and six referrals, with three successful appeals.

    The inquiry (currently underway) involves the Croatian Six, convicted in 1981 for conspiracy to bomb sites in Sydney. After many failed attempts, they finally secured an inquiry with fresh evidence casting doubt on police and witnesses’ trial evidence.

    These different pathways across the country create an uneven playing field, where some wrongfully convicted people may have more opportunities to clear their name than others.

    The right resources

    Access to appeals doesn’t just depend on location. It’s also about resources.

    To succeed in getting an appeal via any of the above pathways, you need the power to obtain documents and the resources to gather other evidence. You also need the ability to prepare a strong case. That’s before you even get to court.

    Judicial inquiries have investigatory powers and resources, but are expensive. For example, the Eastman inquiry cost the ACT government $12 million.

    The United Kingdom and New Zealand have independent bodies called Criminal Cases Review Commissions. Scotland has its own version.




    Read more:
    Kathleen Folbigg pardon shows Australia needs a dedicated body to investigate wrongful convictions


    These commissions have the power to compel evidence and resources to investigate claims of wrongful conviction at no cost to applicants. They also have the power to refer cases back to the courts. While these commissions don’t refer many cases overall, about 70% of of cases referred in the UK are successful on appeal.

    But, even for commissions, a strong initial application is important. In the UK, the Cardiff University Innocence Project engages law students to investigate claims of innocence and prepare applications for claims with merit.

    Canada and the United States don’t have criminal case review commissions. Innocence Projects there review claims of innocence and help prepare applications for government or court review.

    This is similar to the work of the few innocence clinics in Australia, such as those at RMIT and Griffith universities.

    Innocence initiatives around the world work with limited investigatory resources and powers compared with those of a review commission. In the absence of a such a commission in Australia, second appeals are useful, but they are expensive to run, hard to access and don’t address the resource issue.

    The free NSW Supreme Court pathway doesn’t address the resource issue either. But it can lead to an inquiry or referral, is open and accountable, and comes with guiding criteria and discretion to make short shrift of baseless applications.

    My research suggests free pathways to appeal are important justice mechanisms for the wrongly convicted, but they work best when applicants have legal help to prepare a clear and concise application. Involving law students to help edit applications could make it easier for decision-makers to review cases and help applicants without lawyers get a fairer chance to be heard.

    Kylie Lingard 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. Wrongly convicted of a crime? Your ability to clear your name can come down to your postcode – https://theconversation.com/wrongly-convicted-of-a-crime-your-ability-to-clear-your-name-can-come-down-to-your-postcode-240310

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI: Cenovus to hold third-quarter conference call and webcast on October 31

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, Oct. 24, 2024 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX:CVE) (NYSE: CVE) will release its third-quarter 2024 results on Thursday, October 31. The news release will provide consolidated third-quarter operating and financial information. The company’s financial statements will be available on Cenovus’s website, cenovus.com.

    Conference call: 8 a.m. MT (10 a.m. ET)

    To join the conference call, please dial 1-888-307-2440 (toll-free in North America) or 647-694-2812 to reach a live operator who will place you into the call. A live audio webcast will also be available and archived for approximately 30 days.

    Cenovus Energy Inc.

    Cenovus Energy Inc. is an integrated energy company with oil and natural gas production operations in Canada and the Asia Pacific region, and upgrading, refining and marketing operations in Canada and the United States. The company is focused on managing its assets in a safe, innovative and cost-efficient manner, integrating environmental, social and governance considerations into its business plans. Cenovus common shares and warrants are listed on the Toronto and New York stock exchanges, and the company’s preferred shares are listed on the Toronto Stock Exchange. For more information, visit cenovus.com.

    Find Cenovus on Facebook, X, LinkedIn, YouTube and Instagram.

    Cenovus contacts:

    Investors Media
    Investor Relations general line
    403-766-7711
    Media Relations general line
    403-766-7751

    The MIL Network

  • MIL-OSI: Legible Announces $2.1 Million Private Placement Unit Offering and Appointment of Chief Technology Officer

    Source: GlobeNewswire (MIL-OSI)

    VANCOUVER, British Columbia, Oct. 24, 2024 (GLOBE NEWSWIRE) — Legible Inc. (CSE: READ) (OTCQB: LEBGF) (FSE: D0T) (“Legible or “the Company”), a leading platform and innovator in digital literature, announces an offering of units (“Units”) for gross proceeds of $2,100,000 by way of a non-brokered private placement (the “Offering”) pursuant to exemptions from applicable securities laws. Each Unit consists of one common share (“Common Share(s)”) and one whole Common Share purchase warrant (“Warrant(s)”) with each Warrant entitling the holder to acquire 1 Common Share at a price of $0.14, at any time prior to 5:00 pm (PST) on the date that is two years from the closing date. If the volume weighted average trading price of the Common shares is at least $0.40 per Common Share for a period of 5 consecutive trading days, the expiry date of the Warrants may be accelerated by the Company to a date that is not less than 14 days after the date that notice of such acceleration is provided to the Warrant holders by way of a press release.

    The Company has received subscription agreements totaling $1.7 Million. Closing may occur in tranches, with the first tranche expected to close on or about October 31, 2024.

    Legible is also pleased to announce the appointment of Mr. Andrew Nelson to the position of Chief Technology Officer. Mr. Nelson is a Senior Software Engineer who brings nearly 20 years of experience in a wide array of technological and business development roles spanning a wide array of industries, having held a number of senior positions. Prior to Mr. Nelson’s appointment as Legible’s CTO, Mr. Nelson held the position of Director of Technology at Legible as of January 2024. Mr. Nelson’s proficiencies in software development, web design, cybersecurity, data analytics, organizational planning, and product development have helped companies create and implement scalable, customer-focused solutions to drive business growth and brand recognition. Mr. Nelson also has extensive executive and board experience.

    Andrew Nelson stated, “I’m incredibly grateful to take on this leadership role at Legible, a company with such a positive mission to revolutionize how people read and interact with digital literature. Our technology roadmap is centered around creating personalized, accessible, and intuitive experiences that seamlessly integrate into everyday life. As CTO, I’m committed to ensuring that our product innovation and leadership align fully with Legible’s mission, enriching the way audiences engage with literature across the globe.”

    Kaleeg Hainsworth, CEO of Legible, commented, “We are deeply grateful for the support of our lead investor, a U.S.-based private financial services corporation, which has committed CDN$1.61 million to this Offering. This funding will strengthen our balance sheet and empower us to ramp up marketing and sales initiatives, fueling the growth of our Legible Unbound Subscription service. At just US$9.99 per month, Legible Unbound is gaining traction by offering unlimited access to a vast and growing catalogue of eBooks and audiobooks. We are thrilled also to welcome Andrew Nelson as our new Chief Technology Officer. Andrew’s sophisticated understanding of user experience, technological trends, and eCommerce will be invaluable as we scale globally across all our verticals. He is experienced, proven, genuinely understands what Legible is achieving, resilient, a fantastic people person, and is greatly respected in his community. Andrew enhances our executive team and supports Legible’s mission to innovate and lead in the digital literary space, now more than ever.”

    Further to Legible’s Press Release dated July 18, 2024 wherein Legible announced its warrant incentive program (the “WIP”), Legible is pleased to announce the WIP resulted in: (i) a total of 3,374,936 warrants being exercised at $0.07 for proceeds of $236,246, which included $180,233 in the settlement of outstanding indebtedness; and (ii) the issuance of new warrants exercisable on or before August 16, 2025 at $0.10 for an additional 3,374,936 common shares. In the event that the volume weighted average trading price of the common shares of Legible on the Canadian Securities Exchange is at least $0.30 for a minimum of 10 consecutive trading days (whether or not trading occurs on all such days), Legible may, in its sole discretion, issue a news release announcing that the exercise period has been reduced to twenty-one (21) days following the date of the issuance of such news release (the “Accelerated Expiry Date”). If such news release is issued, all such warrants that are not exercised prior to 5:00 p.m. Vancouver time on the Accelerated Expiry Date will expire immediately after such time on the Accelerated Expiry Date.

    In addition, further to the Company’s press release dated January 24, 2024, Legible announces the conclusion of its engagement with Investor Cubed Inc. (“Investor Cubed”), which provided investor relations and shareholder communication services, effective immediately. Legible extends its gratitude to Investor Cubed for their contributions and support during the engagement.

    About Legible Inc.

    Legible is a groundbreaking, mobile-centric global company specializing in eBook and audiobook entertainment. Its extensive partnerships encompass four of the Big 5 Publishers, the world’s largest eBook distributors, and outstanding publishers of all sizes, enabling Legible to deliver millions of eBooks and audiobooks, transforming any smart device into a source of cutting-edge infotainment.

    Legible recently released My Model Kitchen – Vol. 2: Vegetables – The Garden of Earthly Delights, the second of 15 video-enriched Living Cookbooks by former supermodel, bestselling author, TV host and celebrity chef Cristina Ferrare, with an AI Sous Chef for each recipe. The Living Cookbooks and Ms. Ferrare have been featured twice on the Drew Barrymore Show and in many other major US media outlets.

    A first mover in the rapidly expanding automotive infotainment market, Legible has partnered with media providers Faurecia Aptoide, Harman Ignite, LiveOne, and Visteon. Legible has the only Android Automotive app that delivers both audiobooks and eBooks to drivers and passengers in tens of millions of vehicles around the globe, positioning Legible at the forefront of the new world of in-car infotainment experiences.

    The 2024 EdTech Breakthrough Award winner for eLearning Innovation of the Year, Legible is reshaping the digital publishing landscape, committed to gaining significant market share through its innovative 21st-century publishing solutions and enriched reading experiences. Visit Legible.com, where eBooks come to life.

    Press Contacts:

    Legible Inc.

    Ms. Deborah Harford
    EVP, Global Strategic Partnerships
    invest@legible.com
    Website: https://invest.legible.com

    Legible Media Relations

    Krupp Kommunications, Inc.
    Ms. Kathy Giaconia
    VP Media Relations
    kgiaconia@kruppagency.com
    1-213-324-5665
    http://www.KruppAgency.com

    Cautionary Note Regarding Forward Looking Information
    This Press Release contains certain statements which constitute forward-looking statements or information (“forward-looking statements”), including statements regarding Legible’s business. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Legible’s control, including the impact of general economic conditions, industry conditions, currency fluctuations, the lack of availability of qualified personnel or management, stock market volatility and the ability to access sufficient capital from internal and external sources. Although Legible believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward- looking information. As such, readers are cautioned not to place undue reliance on the forward- looking information, as no assurance can be provided as to future results, levels of activity or achievements. The forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, Legible does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.

    NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES
    OR FOR DISSEMINATION IN THE UNITED STATES

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/989cb8b1-ce9c-4e00-b6a0-53c60c30fc72

    The MIL Network

  • MIL-OSI USA: US Department of Labor, Office of the Trade Representative seek review of alleged denial of labor rights at Hidalgo, Mexico, cement plant facility

    Source: US Department of Labor

    WASHINGTON – The U.S.-Mexico-Canada Agreement’s Interagency Labor Committee for Monitoring and Enforcement today requested that the Mexican government review an alleged denial of workers’ rights at Odisa Equipment Services, a cement plant machinery manufacturing facility in Hidalgo, Mexico.

    The U.S. Department of Labor and U.S. Trade Representative co-chair the Interagency Labor Committee.

    The request follows a Sept. 23, 2024, petition filed by a union affiliated with the Confederación Regional Obrera Mexicana, a federation of Mexican labor unions. Filed under the USMCA’s Rapid Response Labor Mechanism, or RRM, the petition alleges Odisa interfered with workers’ rights to freedom of association and collective bargaining through the intimidation and dismissal of workers for union activity. 

    “We are deeply concerned by the anti-union activity at the Odisa facility,” said Deputy Undersecretary for International Affairs Thea Lee. “Such practices violate Mexican labor laws and undermine the labor protections established under the U.S.-Mexico-Canada Agreement. We look forward to working closely with the government of Mexico to resolve these denials of rights.”

    The Interagency Labor Committee found sufficient and credible evidence that supports the allegations, resulting in USTR submitting the request for review using the RRM. 

    “This is another example of how the Biden-Harris administration is keeping corporations accountable and lifting up working communities by protecting workers’ rights to freedom of association and collective bargaining,” said Ambassador Katherine Tai. “The United States remains committed to empowering workers through the USMCA, and we look forward to collaborating with the government of Mexico to address the ongoing denials of rights at this facility.”

    The Mexican government has 10 days to decide whether to conduct a review and 45 days to investigate the claims and present its findings. 

    A subsidiary of Odisa, which has manufactured concrete batch plants, truck mixers and material handling equipment for nearly 50 years, Odisa Equipment Services exports material handling equipment, including sheet metal and aluminum goods, to dozens of countries including the U.S. 

    Learn more about the department’s international work.

    MIL OSI USA News

  • MIL-OSI: Visteon Announces Third Quarter 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    VAN BUREN TOWNSHIP, Mich., Oct. 24, 2024 (GLOBE NEWSWIRE) — Visteon Corporation (NASDAQ: VC) today reported third quarter financial results. Highlights include:

    • Sales of $980 million with Growth-over-Market of 6%1
    • Net income of $39 million and adjusted net income of $63 million
    • Adjusted EBITDA of $119 million
    • Launched 30 new products in the quarter and 71 year-to-date
    • New business wins of $4.9 billion year-to-date
    • Net cash of $229 million at quarter end

    Visteon reported solid net sales of $980 million in a challenging production environment. We delivered 6% outperformance relative to customer vehicle production, driven by strong demand for digital cockpit and electrification products. Our market outperformance was offset by lower customer production and reduced customer recoveries resulting from improved semiconductor supply.

    Gross margin in the third quarter was $131 million. Net income attributable to Visteon was $39 million or $1.40 per diluted share and adjusted net income, a non-GAAP measure defined below, was $63 million or $2.26 per diluted share. Net income, as compared to the prior year, includes the favorable impact of strong operational performance and lower net engineering, partially offset by restructuring expense incurred in the third quarter of 2024. Adjusted EBITDA, a non-GAAP measure defined below, was $119 million in the third quarter and reflects the Company’s strong focus on operational execution, commercial excellence, and cost discipline.

    For the first nine months, cash from operations was $224 million, capital expenditures were $96 million and adjusted free cash flow, a non-GAAP measure defined below, was $135 million. The company ended the third quarter with cash of $553 million and debt of $324 million. Our strong balance sheet, with a net cash position of $229 million, provides the flexibility to deliver on our capital allocation priorities.

    Visteon launched 30 new products in the third quarter, with launches across each of its product lines. Key third quarter launches include an infotainment display system on the Tata Punch, highlighting our continued momentum in India; SmartCore(TM) on an electric SUV for Lynk & Co for the European market and the Renault Grand Koleos hybrid for the Korean market; a digital cluster on the Nissan Qashqai, a popular SUV in Europe; and a wireless BMS for the all-electric Jeep Wagoneer.

    Visteon secured $4.9 billion in new business through the first nine months of the year, including $2.5 billion of wins with OEMs in Asia excluding China. Our success in diversifying into adjacent end-markets also continued, with further momentum with two-wheeler and commercial vehicle OEMs. Third quarter wins included a large, curved display for multiple mass market vehicles in Europe for a global OEM, SmartCore™ and display wins for a SUV model for an Indian OEM and for an electric vehicle for a domestic China OEM. We also had a follow-on win for a digital cluster with a two-wheeler OEM in India.

    “Visteon delivered solid sales and growth-over-market in the third quarter, demonstrating our ability to navigate a challenging customer production environment,” said President and CEO Sachin Lawande. “Demand from our customers remains robust for our diverse product portfolio targeting automotive megatrends of digitalization and electrification. Our continued success in securing new business wins and our momentum with two-wheeler and commercial vehicle OEMs provide a strong foundation for future growth.”

    Based on our year-to-date performance and outlook for the fourth quarter, Visteon is updating its full-year 2024 guidance and anticipates sales in the range of $3.85 – $3.90 billion, adjusted EBITDA in the range of $465 – $480 million, and adjusted free cash flow in the range of $165 – $185 million.

    About Visteon

    Visteon is advancing mobility through innovative technology solutions that enable a software-defined and electric future. With next-generation digital cockpit and electrification products, Visteon leverages the strength and agility of its global network with a local footprint to deliver a cleaner, safer and more connected vehicle experience. Headquartered in Van Buren Township, Michigan, Visteon operates in 17 countries worldwide, recorded approximately $3.95 billion in annual sales and booked $7.2 billion of new business in 2023. Learn more at investors.visteon.com/.

    Conference Call and Presentation
    Today, Thursday, October 24, at 9 a.m. ET, the company will host a conference call for the investment community to discuss the quarter’s results and other related items. The conference call is available to the general public via a live audio webcast.

    The dial-in numbers to participate in the call are:

    U.S./Canada: 1-888-330-2508
    Outside U.S./Canada: 1-240-789-2735
    Conference ID: 8897485  

    (Call approximately 10 minutes before the start of the conference.)

    The conference call and live audio webcast, related presentation materials and other supplemental information will be accessible in the Investors section of Visteon’s website.

    Use of Non-GAAP Financial Information

    Because not all companies use identical calculations, adjusted EBITDA, adjusted net income, adjusted EPS, free cash flow and adjusted free cash flow used throughout this press release may not be comparable to other similarly titled measures of other companies.

    In order to provide the forward-looking non-GAAP financial measures for full-year 2024, the company provides reconciliations to the most directly comparable GAAP financial measures on the subsequent slides. The provision of these comparable GAAP financial measures is not intended to indicate that the company is explicitly or implicitly providing projections on those GAAP financial measures, and actual results for such measures are likely to vary from those presented. The reconciliations include all information reasonably available to the company at the date of this press release and the adjustments that management can reasonably predict.

    Forward-looking Information

    This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. The words “will,” “may,” “designed to,” “outlook,” “believes,” “should,” “anticipates,” “plans,” “expects,” “intends,” “estimates,” “forecasts” and similar expressions identify certain of these forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various factors, risks and uncertainties that could cause our actual results to differ materially from those expressed in these forward-looking statements, including, but not limited to:

    • continued and future impacts of the geopolitical conflicts and related supply chain disruptions, including but not limited to the conflicts in the Middle East, Russia and East Asia and the possible imposition of sanctions;
    • significant or prolonged shortage of critical components from our suppliers, including but not limited to semiconductors, and particularly those who are our sole or primary sources;
    • failure of the Company’s joint venture partners to comply with contractual obligations or to exert influence or pressure in China;
    • conditions within the automotive industry, including (i) the automotive vehicle production volumes and schedules of our customers, (ii) the financial condition of our customers and the effects of any restructuring or reorganization plans that may be undertaken by our customers, including work stoppages at our customers, and (iii) possible disruptions in the supply of commodities to us or our customers due to financial distress, work stoppages, natural disasters or civil unrest;
    • our ability to satisfy future capital and liquidity requirements; including our ability to access the credit and capital markets at the times and in the amounts needed and on terms acceptable to us; our ability to comply with financial and other covenants in our credit agreements; and the continuation of acceptable supplier payment terms;
    • our ability to access funds generated by foreign subsidiaries and joint ventures on a timely and cost-effective basis;
    • general economic conditions, including changes in interest rates and fuel prices; the timing and expenses related to internal restructurings, employee reductions, acquisitions or dispositions and the effect of pension and other post-employment benefit obligations;
    • disruptions in information technology systems including, but not limited to, system failure, cyber-attack, malicious computer software (malware including ransomware), unauthorized physical or electronic access, or other natural or man-made incidents or disasters;
    • increases in raw material and energy costs and our ability to offset or recover these costs; increases in our warranty, product liability and recall costs or the outcome of legal or regulatory proceedings to which we are or may become a party;
    • changes in laws, regulations, policies or other activities of governments, agencies and similar organizations, domestic and foreign, that may tax or otherwise increase the cost of, or otherwise affect, the manufacture, licensing, distribution, sale, ownership or use of our products or assets; and
    • those factors identified in our filings with the SEC (including our Annual Report on Form 10-K for the fiscal year ended December 31, 2023, as updated by our subsequent filings with the Securities and Exchange Commission).

    Caution should be taken not to place undue reliance on our forward-looking statements, which represent our view only as of the date of this release, and which we assume no obligation to update. The financial results presented herein are preliminary and unaudited; final financial results will be included in the company’s Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2024. New business wins and re-wins do not represent firm orders or firm commitments from customers, but are based on various assumptions, including the timing and duration of product launches, vehicle production levels, customer price reductions and currency exchange rates.

    Follow Visteon:

    https://www.linkedin.com/company/visteon 
    https://twitter.com/visteon 
    https://www.facebook.com/VisteonCorporation 
    https://www.youtube.com/user/Visteon
    https://www.instagram.com/visteon/ 
    https://mp.weixin.qq.com/?lang=en_US 
    https://m.weibo.cn/u/6605315328 
    http://i.youku.com/u/UNDgyMjA1NjUxNg==?spm=a2h0k.8191407.0.0

    VISTEON CORPORATION AND SUBSIDIARIES
    CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
    (In millions except per share amounts)
    (Unaudited)
     
      Three Months Ended   Nine Months Ended
      September 30,   September 30,
        2024       2023       2024       2023  
                   
    Net sales $ 980     $ 1,014     $ 2,927     $ 2,964  
    Cost of sales   (849 )     (871 )     (2,530 )     (2,607 )
    Gross margin   131       143       397       357  
    Selling, general and administrative expenses   (51 )     (52 )     (152 )     (156 )
    Restructuring, net   (28 )           (31 )     (2 )
    Interest expense, net         (1 )           (7 )
    Equity in net income (loss) of non-consolidated affiliates   (3 )     (1 )     (7 )     (8 )
    Other income (expense), net   2       3       7       (4 )
    Income (loss) before income taxes   51       92       214       180  
    Provision for income taxes   (11 )     (21 )     (55 )     (48 )
    Net income (loss)   40       71       159       132  
    Less: Net (income) loss attributable to non-controlling interests   (1 )     (5 )     (7 )     (12 )
    Net income (loss) attributable to Visteon Corporation $ 39     $ 66     $ 152     $ 120  
                   
    Comprehensive income (loss) $ 69     $ 58     $ 153     $ 114  
    Less: Comprehensive (income) loss attributable to non-controlling interests   (7 )     (4 )     (10 )     (6 )
    Comprehensive income (loss) attributable to Visteon Corporation $ 62     $ 54     $ 143     $ 108  
                   
    Basic earnings (loss) per share attributable to Visteon Corporation $ 1.41     $ 2.35     $ 5.51     $ 4.26  
                   
    Diluted earnings (loss) per share attributable to Visteon Corporation $ 1.40     $ 2.32     $ 5.45     $ 4.20  
                   
    Average shares outstanding (in millions)              
    Basic   27.6       28.1       27.6       28.2  
    Diluted   27.9       28.5       27.9       28.6  
    VISTEON CORPORATION AND SUBSIDIARIES
    CONSOLIDATED BALANCE SHEETS
    (In millions)
     
      (Unaudited)    
      September 30,   December 31,
        2024       2023  
    ASSETS      
    Cash and equivalents $ 550     $ 515  
    Restricted cash   3       3  
    Accounts receivable, net   719       666  
    Inventories, net   321       298  
    Other current assets   109       134  
    Total current assets   1,702       1,616  
           
    Property and equipment, net   438       418  
    Intangible assets, net   157       90  
    Right-of-use assets   103       109  
    Investments in non-consolidated affiliates   27       35  
    Deferred tax assets   387       384  
    Other non-current assets   79       75  
    Total assets $ 2,893     $ 2,727  
           
    LIABILITIES AND EQUITY      
    Short-term debt $ 18     $ 18  
    Accounts payable   547       551  
    Accrued employee liabilities   98       99  
    Current lease liability   29       30  
    Other current liabilities   245       233  
    Total current liabilities   937       931  
           
    Long-term debt, net   306       318  
    Employee benefits   143       160  
    Non-current lease liability   79       79  
    Deferred tax liabilities   46       31  
    Other non-current liabilities   109       85  
           
    Stockholders’ equity:      
    Common stock   1       1  
    Additional paid-in capital   1,369       1,356  
    Retained earnings   2,426       2,274  
    Accumulated other comprehensive loss   (263 )     (254 )
    Treasury stock   (2,348 )     (2,339 )
    Total Visteon Corporation stockholders’ equity   1,185       1,038  
    Non-controlling interests   88       85  
    Total equity   1,273       1,123  
    Total liabilities and equity $ 2,893     $ 2,727  
    VISTEON CORPORATION AND SUBSIDIARIES
    CONSOLIDATED STATEMENTS OF CASH FLOWS
    (In millions)
    (Unaudited)
     
      Three Months Ended   Nine Months Ended
      September 30,   September 30,
        2024       2023       2024       2023  
    OPERATING              
    Net income (loss) $ 40     $ 71     $ 159     $ 132  
    Adjustments to reconcile net income (loss) to net cash provided from (used by) operating activities:              
    Depreciation and amortization   25       24       71       79  
    Non-cash stock-based compensation   10       9       31       26  
    Equity in net loss (income) of non-consolidated affiliates, net of dividends remitted   3       1       7       8  
    Tax valuation allowance benefit   (7 )           (7 )      
    Other non-cash items   3       1       10       (3 )
    Changes in assets and liabilities:              
    Accounts receivable   (6 )     (12 )     (55 )     (19 )
    Inventories         6       (23 )     23  
    Accounts payable   (5 )     35       3       (54 )
    Other assets and other liabilities   35       (8 )     28       (23 )
    Net cash provided from (used by) operating activities   98       127       224       169  
    INVESTING              
    Capital expenditures, including intangibles   (28 )     (31 )     (96 )     (82 )
    Acquisition of business, net of cash acquired   (48 )           (48 )      
    Contributions to equity method investments   (1 )     (1 )     (1 )     (1 )
    Loan provided to non-consolidated affiliate               (5 )      
    Other   1       1       2       3  
    Net cash used by investing activities   (76 )     (31 )     (148 )     (80 )
    FINANCING              
    Dividends to non-controlling interests         (12 )           (27 )
    Short-term debt, net         (3 )            
    Repurchase of common stock         (46 )     (20 )     (76 )
    Stock based compensation tax withholding payments         (1 )     (7 )     (16 )
    Proceeds from the exercise of stock options         4             8  
    Principal repayment of term debt facility   (4 )     (4 )     (13 )     (8 )
    Net cash used by financing activities   (4 )     (62 )     (40 )     (119 )
    Effect of exchange rate changes on cash   27       (8 )     (1 )     (8 )
    Net decrease in cash, equivalents, and restricted cash   45       26       35       (38 )
    Cash, equivalents, and restricted cash at beginning of the period   508       459       518       523  
    Cash, equivalents, and restricted cash at end of the period $ 553     $ 485     $ 553     $ 485  

    VISTEON CORPORATION AND SUBSIDIARIES
    RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
    (In millions except per share amounts)
    (Unaudited)

    Adjusted EBITDA: Adjusted EBITDA is presented as a supplemental measure of the Company’s performance that management believes is useful to investors because the excluded items may vary significantly in timing or amounts and/or may obscure trends useful in evaluating and comparing the Company’s operating activities across reporting periods. The Company defines adjusted EBITDA as net income attributable to the Company adjusted to eliminate the impact of depreciation and amortization, provision for (benefit from) income taxes, non-cash stock-based compensation expense, net interest expense, net income attributable to non-controlling interests, net restructuring expense, equity in net (income)/loss of non-consolidated affiliates, gain on non-consolidated affiliate transactions, and other gains and losses not reflective of the Company’s ongoing operations. Because not all companies use identical calculations, this presentation of adjusted EBITDA may not be comparable to similarly titled measures of other companies.

      Three Months Ended   Nine Months Ended   Estimated
      September 30,   September 30,   Full Year
    Visteon:   2024       2023       2024       2023       2024  
    Net income attributable to Visteon Corporation $ 39     $ 66     $ 152     $ 120       202  
    Depreciation and amortization   25       24       71       79       96  
    Provision for income taxes   11       21       55       48       75  
    Non-cash, stock-based compensation expense   10       9       31       26       42  
    Restructuring, net   28             31       2       34  
    Interest expense, net         1             7        
    Net income attributable to non-controlling interests   1       5       7       12       10  
    Equity in net loss (income) of non-consolidated affiliates   3       1       7       8       9  
    Other   2       1       3       15       5  
    Adjusted EBITDA $ 119     $ 128     $ 357     $ 317     $ 4732  
                       

    Adjusted EBITDA is not a recognized term under U.S. GAAP and does not purport to be a substitute for net income as an indicator of operating performance or cash flows from operating activities as a measure of liquidity. Adjusted EBITDA has limitations as an analytical tool and is not intended to be a measure of cash flow available for management’s discretionary use, as it does not consider certain cash requirements such as interest payments, tax payments and debt service requirements. In addition, the Company uses adjusted EBITDA (i) as a factor in incentive compensation decisions, (ii) to evaluate the effectiveness of the Company’s business strategies, and (iii) because the Company’s credit agreements use similar measures for compliance with certain covenants.

    VISTEON CORPORATION AND SUBSIDIARIES
    RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
    (In millions except per share amounts)
    (Unaudited)

    Free Cash Flow and Adjusted Free Cash Flow: Free cash flow and adjusted free cash flow are presented as supplemental measures of the Company’s liquidity that management believes are useful to investors in analyzing the Company’s ability to service and repay its debt. The Company defines free cash flow as cash flow provided from operating activities less capital expenditures, including intangibles. The Company defines adjusted free cash flow as cash flow provided from operating activities less capital expenditures, including intangibles as further adjusted for restructuring related payments. Because not all companies use identical calculations, this presentation of free cash flow and adjusted free cash flow may not be comparable to other similarly titled measures of other companies.

      Three Months Ended   Nine Months Ended   Estimated
      September 30,   September 30,   Full Year
    Visteon:   2024       2023       2024       2023       2024  
    Cash provided from (used by) operating activities $ 98     $ 127     $ 224     $ 169       305  
    Capital expenditures, including intangibles   (28 )     (31 )     (96 )     (82 )     (145 )
    Free cash flow $ 70     $ 96     $ 128     $ 87     $ 160  
    Restructuring related payments   3       2       7       6       15  
    Adjusted free cash flow $ 73     $ 98     $ 135     $ 93     $ 1753  
     

    Free cash flow and adjusted free cash flow are not recognized terms under U.S. GAAP and do not purport to be a substitute for cash flows from operating activities as a measure of liquidity. Free cash flow and adjusted free cash flow have limitations as analytical tools as they do not reflect cash used to service debt and do not reflect funds available for investment or other discretionary uses. In addition, the Company uses free cash flow and adjusted free cash flow (i) as factors in incentive compensation decisions and (ii) for planning and forecasting future periods.

    VISTEON CORPORATION AND SUBSIDIARIES
    RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
    (In millions except per share amounts)
    (Unaudited)

    Adjusted Net Income and Adjusted Earnings Per Share: Adjusted net income and adjusted earnings per share are presented as supplemental measures that management believes are useful to investors in analyzing the Company’s profitability, providing comparability between periods by excluding certain items that may not be indicative of recurring business operating results. The Company believes management and investors benefit from referring to these supplemental measures in assessing company performance and when planning, forecasting and analyzing future periods. The Company defines adjusted net income as net income attributable to Visteon adjusted to eliminate the impact of restructuring expense, loss on divestiture, gain on non-consolidated affiliate transactions, other gains and losses not reflective of the Company’s ongoing operations and related tax effects. The Company defines adjusted earnings per share as adjusted net income divided by diluted shares. Because not all companies use identical calculations, this presentation of adjusted net income and adjusted earnings per share may not be comparable to other similarly titled measures of other companies.

      Three Months Ended   Nine Months Ended
      September 30,   September 30,
        2024       2023       2024       2023  
    Net income attributable to Visteon $ 39     $ 66     $ 152     $ 120  
                   
    Diluted earnings per share:              
    Net income attributable to Visteon $ 39     $ 66     $ 152     $ 120  
    Average shares outstanding, diluted   27.9       28.5       27.9       28.6  
    Diluted earnings per share $ 1.40     $ 2.32     $ 5.45     $ 4.20  
                   
    Adjusted net income and adjusted earnings per share:              
    Net income attributable to Visteon $ 39     $ 66     $ 152     $ 120  
    Restructuring, net   28             31       2  
    Other   2       1       3       15  
    Tax impacts of adjustments   (6 )           (7 )      
    Adjusted net income $ 63     $ 67     $ 179     $ 137  
    Average shares outstanding, diluted   27.9       28.5       27.9       28.6  
    Adjusted earnings per share $ 2.26     $ 2.35     $ 6.42     $ 4.79  
                   

    Adjusted net income and adjusted earnings per share are not recognized terms under U.S. GAAP and do not purport to be a substitute for profitability. Adjusted net income and adjusted earnings per share have limitations as analytical tools as they do not consider certain restructuring and transaction-related payments and/or expenses. In addition, the Company uses adjusted net income and adjusted earnings per share for internal planning and forecasting purposes.

    1 Excludes Y/Y impact of currency fluctuations
    2 Based on mid-point of the range of the Company’s financial guidance
    3 Based on mid-point of the range of the Company’s financial guidance

    The MIL Network

  • MIL-OSI Canada: Minister Joly to participate in ministerial conference on Lebanon in Paris, France

    Source: Government of Canada News (2)

    The conference will focus on three objectives: reaffirming the need for a diplomatic solution to the Israel-Hezbollah conflict in accordance with the United Nations Security Council Resolution 1701, mobilizing the international community to address the urgent needs for protection and emergency relief for the Lebanese people and exploring strategies to enhance support for Lebanon’s institutions, including the Lebanese Armed Forces, which play a crucial role in ensuring the country’s internal stability.

    October 24, 2024 – Ottawa, Ontario – Global Affairs Canada

    Today, the Honourable Mélanie Joly, Minister of Foreign Affairs, announced that she will participate at the International Conference in Support of Lebanon’s People and Sovereignty, taking place in Paris, France today.

    The conference will focus on three objectives: reaffirming the need for a diplomatic solution to the Israel-Hezbollah conflict in accordance with the United Nations Security Council Resolution 1701, mobilizing the international community to address the urgent needs for protection and emergency relief for the Lebanese people and exploring strategies to enhance support for Lebanon’s institutions, including the Lebanese Armed Forces, which play a crucial role in ensuring the country’s internal stability.

    Minister Joly will engage with her counterparts to create space for a diplomatic solution along the Blue Line and help shore up humanitarian assistance to support the needs of the Lebanese people.

    “I look forward to engaging with my counterparts and other senior officials in Paris as we work toward securing an immediate ceasefire. Canada continues to be steadfast in our commitment to peace and the de-escalation of tensions. Families in Southern Lebanon and Northern Israel must be able to safely return to their homes.”

    – Mélanie Joly, Minister of Foreign Affairs

    MIL OSI Canada News

  • MIL-OSI: AGF Investments Announces October 2024 Cash Distributions for AGF Enhanced U.S. Equity Income Fund, AGF Total Return Bond Fund and AGF Systematic Global Infrastructure ETF

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Oct. 24, 2024 (GLOBE NEWSWIRE) — AGF Investments Inc. (AGF Investments) today announced the October 2024 cash distributions for AGF Enhanced U.S. Equity Income Fund*, AGF Total Return Bond Fund* and AGF Systematic Global Infrastructure ETF, which pay monthly distributions. Unitholders of record on October 31, 2024 will receive cash distributions payable on November 6, 2024.

    Details regarding the final “per unit” distribution amounts are as follows:

    ETF Ticker Exchange Cash Distribution Per Unit ($)
    AGF Enhanced U.S. Equity Income Fund* AENU Cboe Canada Inc. $0.138874
    AGF Total Return Bond Fund* ATRB Cboe Canada Inc. $0.123000
    AGF Systematic Global Infrastructure ETF QIF Cboe Canada Inc. $0.138692

    *AGF Enhanced U.S. Equity Income Fund and AGF Total Return Bond Fund are mutual funds with an ETF series option.

    Further information about the AGF ETFs can be found at AGF.com.

    This information is not intended to provide legal, accounting, tax, investment, financial, or other advice, and should not be relied upon for providing such advice. Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. Please read the prospectus before investing. Investment funds are not guaranteed, their values change frequently, and past performance may not be repeated.

    About AGF Management Limited

    Founded in 1957, AGF Management Limited (AGF) is an independent and globally diverse asset management firm. Our companies deliver excellence in investing in the public and private markets through three business lines: AGF Investments, AGF Capital Partners and AGF Private Wealth.

    AGF brings a disciplined approach, focused on incorporating sound, responsible and sustainable corporate practices. The firm’s collective investment expertise, driven by its fundamental, quantitative and private investing capabilities, extends globally to a wide range of clients, from financial advisors and their clients to high-net worth and institutional investors including pension plans, corporate plans, sovereign wealth funds, endowments and foundations.

    Headquartered in Toronto, Canada, AGF has investment operations and client servicing teams on the ground in North America and Europe. With nearly $51 billion in total assets under management and fee-earning assets, AGF serves more than 800,000 investors. AGF trades on the Toronto Stock Exchange under the symbol AGF.B.

    About AGF Investments

    AGF Investments is a group of wholly owned subsidiaries of AGF Management Limited, a Canadian reporting issuer. The subsidiaries included in AGF Investments are AGF Investments Inc. (AGFI), AGF Investments America Inc. (AGFA), AGF Investments LLC (AGFUS) and AGF International Advisors Company Limited (AGFIA). The term AGF Investments may refer to one or more of these subsidiaries or to all of them jointly. This term is used for convenience and does not precisely describe any of the separate companies, each of which manages its own affairs.

    AGF Investments entities only provide investment advisory services or offers investment funds in the jurisdiction where such firm and/or product is registered or authorized to provide such services.

    AGF Investments Inc. is a wholly-owned subsidiary of AGF Management Limited and conducts the management and advisory of mutual funds in Canada.

    Media Contact
    Amanda Marchment
    Director, Corporate Communications
    416-865-4160
    amanda.marchment@agf.com

    The MIL Network

  • MIL-OSI: Orezone Provides Hard Rock Expansion Update for Its Bomboré Gold Mine

    Source: GlobeNewswire (MIL-OSI)

    VANCOUVER, British Columbia, Oct. 24, 2024 (GLOBE NEWSWIRE) — Orezone Gold Corporation (TSX: ORE, OTCQX: ORZCF) (“Orezone”) is pleased to provide an update on the hard rock expansion at its Bomboré Gold Mine. The hard rock expansion is forecasted to increase annual gold production to over 170,000 ounces, an approximate 50% increase from current levels, with first gold planned in Q4-2025.

    Site works are well-advanced with the plant-site area cleared and all major earthworks complete. Laydown areas have been prepared and are ready to receive construction equipment, offices, and major plant deliveries. Camp upgrades for construction supervision and teams are also now operational.

    Engineering and Procurement

    Lycopodium Minerals Canada (“Lycopodium”) was awarded the engineering and procurement contract and is ahead of schedule on both activities. Lycopodium was selected due to their successful track record of designing and constructing numerous gold plants in West Africa, including the Company’s Phase I oxide plant that is currently in operation and exceeding nameplate design.

    In terms of procurement, the Company has placed over 50% of all packages including CIL tank platework and 95% of all process equipment. This includes the purchase of a 9MW 26’ diameter SAG mill. The SAG mill is a new, pre-owned mill that was never installed and carries a full warranty by the supplier. Substantial savings in costs and schedule are being realized from the purchase of this manufactured mill. The mill shells, heads and ring gear are now being packaged for shipment later this quarter which is well ahead of schedule.

    Site Construction Activities

    The concrete installation contract was recently awarded with mobilization of the batch plant and equipment scheduled for mid-November, three months ahead of schedule.

    The tank platework supply was awarded in September, and bids for the structural steel and general platework are under evaluation and will be awarded in November.

    The main Structural, Mechanical, and Piping installation contract is expected to be awarded in Q1-2025, which again will be ahead of schedule.

    Mining Fleet and Explosives Magazine

    The first shipment of the hard rock fleet by the mining contractor, which includes new trucks and excavators, has arrived in Burkina Faso and will be transported to site in late October. This early delivery will allow for systematic training of operators well ahead of the start of hard rock mining and will facilitate more cost-effective mining of the lower transition material in the near-term. The remaining hard rock fleet will be delivered to site over the coming six to eight months.

    The explosives magazine is in the final stages of completion. Once in service, the Company will be able to purchase and store bulk explosives for mixing and preparation at site, eliminating the need for the more costly pre-mix batch deliveries. A full-service team from AECI will be on site to mix and supply the downhole explosives for blasting of transition and hard rock material.

    Patrick Downey, President & CEO stated, “I am extremely pleased with the fast progress made to date on the hard rock expansion. The team has focused on critical areas to accelerate site activities and to meet or exceed key milestones. We look forward to sharing regular updates on this important expansion.”

    Figure 1: Hard Rock Plant Area

    About Orezone Gold Corporation

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

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

    Patrick Downey
    President and Chief Executive Officer

    Vanessa Pickering
    Manager, Investor Relations

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

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

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

    QUALIFIED PERSONS

    Dale Tweed, P. Eng., VP Engineering and Rob Henderson, P. Eng. VP Technical Services of Orezone, are Qualified Persons under NI 43-101 and have reviewed and approved the scientific and technical information contained in this news release.

    Cautionary Note Regarding Forward-Looking Statements

    This press release contains certain information that may constitute “forward-looking information” within the meaning of applicable Canadian Securities laws and “forward-looking statements” within the meaning of applicable U.S. securities laws (together, “forward-looking statements”). Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “potential”, “possible” and other similar words, or statements that certain events or conditions “may”, “will”, “could”, or “should” occur. Forward-looking statements in this press release include, but are not limited to, statements with respect to the hard rock expansion including the increase in gold production.

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

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

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

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a33214c6-4db5-42c0-8910-83291abd3045

    The MIL Network

  • MIL-OSI Canada: Parliamentary Appearance by the Governor and the Senior Deputy Governor of the Bank of Canada

    Source: Bank of Canada


















  • MIL-OSI: Real Estate Split Corp. Class A Distribution

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Oct. 24, 2024 (GLOBE NEWSWIRE) — Real Estate Split Corp. (TSX: RS) (the “Fund”), is pleased to announce that a distribution for October 2024 will be payable to Class A shareholders of Real Estate Split Corp. as follows:

    Record Date Payable Date Distribution Per
    Equity Share
    October 31, 2024 November 15, 2024 $0.13
         

    The equity shares trade on the Toronto Stock Exchange under the symbol RS.

    For further information, please visit our website at www.middlefield.com or contact our Sales and Marketing Department at 1.888.890.1868.

    This press release contains forward-looking information. The forward-looking information contained in this press release is based on historical information concerning distributions and dividends paid on the securities of issuers historically included in the portfolio of the Fund. Actual future results, including the amount of distributions paid by the Fund, may differ from the monthly distribution amount. Specifically, the income from which distributions are paid may vary significantly due to: changes in portfolio composition; changes in distributions and dividends paid by issuers of securities included in the Fund’s portfolio from time to time; there being no assurance that those issuers will pay distributions or dividends on their securities; the declaration of distributions and dividends by issuers of securities included in the portfolio will generally depend upon various factors, including the financial condition of each issuer and general economic and stock market conditions; the level of borrowing by the Fund; and the uncertainty of realizing capital gains.  The risks, uncertainties and other factors that could influence actual results are described under “Risk Factors” in the Fund’s prospectus and other documents filed by the Fund with the Canadian securities regulatory authorities. The forward-looking information contained in this press release constitutes the Fund’s current estimate, as of the date of this press release, with respect to the matters covered hereby. Investors and others should not assume that any forward-looking statement contained in this press release represents the Fund’s estimate as of any date other than the date of this press release.

    The MIL Network

  • MIL-OSI: E Split Corp. Class A Distribution

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Oct. 24, 2024 (GLOBE NEWSWIRE) — E Split Corp. (TSX: ENS) (the “Fund”) is pleased to announce that a distribution for October 2024 will be payable to Class A shareholders of E Split Corp. as follows:

    Record Date Payable Date Distribution Per
    Equity Share
    October 31, 2024 November 15, 2024 $0.13


    The equity shares trade on the Toronto Stock Exchange under the symbol ENS.

    For further information, please visit our website at www.middlefield.com or contact our Sales and Marketing Department at 1.888.890.1868.

    This press release contains forward-looking information. The forward-looking information contained in this press release is based on historical information concerning distributions and dividends paid on the securities of issuers historically included in the portfolio of the Fund. Actual future results, including the amount of distributions paid by the Fund, may differ from the monthly distribution amount. Specifically, the income from which distributions are paid may vary significantly due to: changes in portfolio composition; changes in distributions and dividends paid by issuers of securities included in the Fund’s portfolio from time to time; there being no assurance that those issuers will pay distributions or dividends on their securities; the declaration of distributions and dividends by issuers of securities included in the portfolio will generally depend upon various factors, including the financial condition of each issuer and general economic and stock market conditions; the level of borrowing by the Fund; and the uncertainty of realizing capital gains.  The risks, uncertainties and other factors that could influence actual results are described under “Risk Factors” in the Fund’s prospectus and other documents filed by the Fund with the Canadian securities regulatory authorities. The forward-looking information contained in this press release constitutes the Fund’s current estimate, as of the date of this press release, with respect to the matters covered hereby. Investors and others should not assume that any forward-looking statement contained in this press release represents the Fund’s estimate as of any date other than the date of this press release.

    The MIL Network

  • MIL-OSI: LNG Energy Group Announces Release of Its Sustainability Report

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Oct. 24, 2024 (GLOBE NEWSWIRE) — LNG Energy Group Corp. (TSXV: LNGE) (TSXV: LNGE.WT) (OTCQB: LNGNF) (FRA: E26) (the “Company” or “LNG Energy Group”) today released its 2023 Sustainability Report (the “Sustainability Report”).

    “I am pleased to report that LNG Energy Group has released its Sustainability Report and has taken a leading role in ESG and sustainability initiatives in Colombia,” comments Pablo Navarro, Chairman and Chief Executive Officer of the Company. “Our Sustainability Report highlights all of our important activities in Colombia and our approach to minimizing our environmental impact while improving the living standards of our local communities.”

    The Sustainability Report presents the Company’s sustainability initiatives in 2023 and into 2024. The Sustainability Report can be accessed on the Company’s website at: https://www.lngenergygroup.com/sustainability.

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

    About LNG Energy Group

    The Company is focused on the acquisition and development of oil and gas exploration and production assets in Latin America.

    For more information, please see below:

    Website:
    www.lngenergygroup.com

    Investor Relations:
    James Morris, Vice-President, Business Development and Investor Relations
    Email: investor.relations@lngenergygroup.com
    Telephone: 205-835-0676

    Find us on social media:
    LinkedIn: https://www.linkedin.com/company/lng-energy-group-inc/  
    Instagram: @lngenergygroup
    X: @LNGEnergyCorp

    CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION:

    This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities laws. All statements other than statements of historical fact are forward-looking statements, and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often using phrases such as “expects”, “anticipates”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends”, or variations of such words and phrases, or stating that certain actions, events or results “may” or “could”, “would”, “should”, “might” or “will” be taken to occur or be achieved, are not statements of historical fact and may be forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include: general business, economic, competitive, political and social uncertainties; delay or failure to receive any necessary board, shareholder or regulatory approvals, factors may occur which impede or prevent LNG Energy Group’s future business plans; and other factors beyond the control of LNG Energy Group. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, LNG Energy Group assumes no obligation to update the forward-looking statements, whether they change as a result of new information, future events or otherwise, except as required by law.

    The MIL Network

  • MIL-OSI: MINT Income Fund Distributions

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Oct. 24, 2024 (GLOBE NEWSWIRE) — MINT Income Fund (TSX: MID.UN) (the “Fund”) is pleased to announce that distributions for the fourth quarter of 2024 will be payable to unitholders of MINT Income Fund as follows:

    Record Date Payable Date Distribution Per Trust Unit
    October 31, 2024 November 15, 2024 $0.04
    November 30, 2024 December13, 2024 $0.04
    December 31, 2024 January 15, 2025 $0.04


    The trust units trade on the Toronto Stock Exchange under the symbol MID.UN.

    The Fund offers a distribution reinvestment plan (“DRIP”) for unitholders which provides unitholders with the ability to automatically reinvest distributions, commission free, and realize the benefits of compound growth. Unitholders can enroll in the DRIP program by contacting their investment advisor.

    Middlefield

    Founded in 1979, Middlefield is a specialist equity income asset manager with offices in Toronto, Canada and London, England. Our investment team utilizes active management to select high-quality, global companies across a variety of sectors and themes. Our product offerings include proven dividend-focused strategies that span real estate, healthcare, innovation, infrastructure, energy, diversified income and more. We offer these solutions in a variety of product types including ETFs, Mutual Funds, Closed-End Funds, Split-Share Funds and Flow-through LPs.

    For further information, please visit our website at www.middlefield.com or contact Nancy Tham in our Sales and Marketing Department at 1.888.890.1868.

    This press release contains forward-looking information. The forward-looking information contained in this press release is based on historical information concerning the distributions and dividends paid on the securities of issuers historically included in the portfolio of the Fund. Actual future results, including the amount of distributions paid by the Fund, may differ from the monthly distribution amount. Specifically, the income from which distributions are paid may vary significantly due to: changes in portfolio composition; changes in distributions and dividends paid by issuers of securities included in the Fund’s portfolio from time to time; there being no assurance that those issuers will pay distributions or dividends on their securities; the declaration of distributions and dividends by issuers of securities included in the portfolio will generally depend upon various factors, including the financial condition of each issuer and general economic and stock market conditions; the level of borrowing by the Fund; and the uncertainty of realizing capital gains. The risks, uncertainties and other factors that could influence actual results are described in the Fund’s prospectus and other documents filed by the Fund with the Canadian securities regulatory authorities. The forward-looking information contained in this press release constitutes the Fund’s current estimate, as of the date of this press release, with respect to the matters covered hereby. Investors and others should not assume that any forward-looking statement contained in this press release represents the Fund’s estimate as of any date other than the date of this press release.

    The MIL Network

  • MIL-Evening Report: Want to build healthier cities? Make room for bird and tree diversity

    Source: The Conversation (Au and NZ) – By Rachel Buxton, Assistant Professor, Department of Biology, Carleton University

    More than five million Canadians — approximately one in eight of us — are living with a mood, anxiety or substance use disorder. The prevalence of mental disorders is on the rise, with a third of those with a disorder reporting unmet or partially met needs for mental health-care services.

    The stresses of the city, where more than 70 per cent of Canadians now live, can increase the risk of poor mental health even further.

    When most people think about caring for their mental health, they may think about getting more exercise, getting more sleep and making sure they’re eating healthy. Increasingly, research is showing that spending time in nature surrounded by plants and wildlife can also contribute to preventing and treating mental illness.

    Our research focuses on the importance of birds and trees in urban neighbourhoods in promoting mental well-being. In our study, we combined more than a decade of health and ecological data across 36 Canadian cities and found a positive association between greater bird and tree diversity and self-rated mental health.

    The well-being benefits of healthy ecosystems will probably not come as a great surprise to urban dwellers who relish days out in the park or hiking in a nearby nature reserve. Still, the findings of our study speak to the potential of a nature-based urbanism that promotes the health of its citizens.




    Read more:
    How the health of honeybee hives can inform environmental policies in Canadian cities


    Birds, trees and human connection

    Across cultures and societies, people have strong connections with birds. The beauty of their bright song and colour have inspired art, music and poetry. Their contemporary cultural relevance has even earned them an affectionate, absurdist internet nickname: “birbs”.

    There’s something magical about catching a glimpse of a bird and hearing birdsong. For many urbanites, birds are our daily connection to wildlife and a gateway to nature. In fact, even if we don’t realize it, humans and birds are intertwined. Birds provide us with many essential services — controlling insects, dispersing seeds and pollinating our crops.

    People have similarly intimate connections with trees. The terms tree of life, family trees, even tree-hugger all demonstrate the central cultural importance trees have in many communities around the world. In cities, trees are a staple of efforts to bring beauty and tranquility.

    When the Australian city of Melbourne gave urban trees email addresses for people to report problems, residents responded by writing thousands of love letters to their favourite trees. Forest bathing, a practice of being calm and quiet among trees, is a growing wellness trend.

    Birds and trees as promoters of urban wellness

    Contact with nature and greenspace have a suite of mental health benefits.

    Natural spaces reduce stress and offer places for recreation and relaxation for urban dwellers, but natural diversity is key. A growing amount of research shows that the extent of these benefits may be related to the diversity of different natural features.

    For example, in the United States, higher bird diversity is associated with lower hospitalizations for mood and anxiety disorders and longer life expectancy. In a European study, researchers found that bird diversity was as important for life satisfaction as income.

    People’s connection to a greater diversity of birds and trees could be because we evolved to recognize that the presence of more species indicates a safer environment — one with more things to eat and more shelter. Biodiverse environments are also less work for the brain to interpret, allowing restoration of cognitive resources.

    To explore the relationship between biodiversity and mental health in urban Canada, we brought together unique datasets. First, we collected bird data sourced from community scientists, where people logged their bird sightings on an app. We then compared this data with tree diversity data from national forest inventories.

    Finally, we compared both of these data sets to a long-standing health survey that has interviewed approximately 65,000 Canadians each year for over two decades.

    We found that living in a neighbourhood with higher than average bird diversity increased reporting of good mental health by about seven per cent. While living in a neighbourhood with higher than average tree diversity increased good mental health by about five per cent.

    Importance of urban birds and trees

    The results of our study, and those of others, show a connection between urban bird and tree diversity, healthy ecosystems and people’s mental well-being. This underscores the importance of urban biodiversity conservation as part of healthy living promotion.

    Protecting wild areas in parks, planting pollinator gardens and reducing pesticide use could all be key strategies to protect urban wildlife and promote people’s well-being. Urban planners should take note.




    Read more:
    Eco-anxiety: climate change affects our mental health – here’s how to cope


    We’re at a critical juncture: just as we are beginning to understand the well-being benefits of birds and trees, we’re losing species at a faster rate than ever before. It’s estimated that there are three billion fewer birds in North America compared to the 1970s and invasive pests will kill 1.4 million street trees over the next 30 years.

    By promoting urban biodiversity, we can ensure a sustainable and healthy future for all species, including ourselves.

    Rachel Buxton receives funding from Natural Sciences and Engineering Research Council of Canada, National Institutes of Health, and Environment and Climate Change Canada.

    Emma J. Hudgins received funding from the Natural Sciences and Engineering Research Council of Canada and the Fonds de Recherche du Québec – Nature et Technologies for this work. She currently receives funding from Plant Health Australia.

    Stephanie Prince Ware has received funding from the Canadian Institutes of Health Research.

    ref. Want to build healthier cities? Make room for bird and tree diversity – https://theconversation.com/want-to-build-healthier-cities-make-room-for-bird-and-tree-diversity-235379

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