NewzIntel.com

Category: Canada

  • MIL-OSI Canada: New and updated curriculum units on Residential Schools launched for Yukon students

    Source: Government of Canada regional news

    The Government of Yukon’s Department of Education is launching two Social Studies curriculum units – one new and one updated – for Grades 5 and 10, focusing on the history and legacy of Indian Residential Schools in the Yukon and Canada. These resources, designed to provide students with a deeper understanding of the impacts of residential schools, represent a significant step toward truth and reconciliation in the Yukon’s education system.

    • Read more about New and updated curriculum units on Residential Schools launched for Yukon students
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    MIL OSI Canada News –

  • MIL-OSI Canada: New Conservation and Action Plan released for Aishihik bison population

    Source: Government of Canada regional news

    The Government of Yukon has released a new Conservation and Action Plan for the Aishihik bison population. The new collaborative plan articulates a longer-term vision and recommendations for conservation and management of the Aishihik bison population.

    The plan promotes:

    • Read more about New Conservation and Action Plan released for Aishihik bison population
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    MIL OSI Canada News –

  • MIL-OSI Security: Whitehorse — Crime Reduction Unit arrests repeat offender

    Source: Royal Canadian Mounted Police

    At approximately 4 pm on October 16, 2024, members of Yukon Crime Reduction Unit, assisted by Whitehorse Detachment General Investigation Section arrested 34-year-old Marcus Hickey. Mr. Hickey was wanted on an un-endorsed warrant for two counts of breaching a release order.

    Hickey resisted arrest and subsequently struck an officer in the eye. Both Mr. Hickey and the officer were evaluated at Whitehorse General Hospital for minor injuries.

    Mr. Hickey while in the process of being transported from Whitehorse General Hospital to the Arrest Processing Unit, pushed police and attempted to grab items on the officer’s duty belt. Mr. Hickey then attempted to flee from police by running away but was quickly caught and arrested.

    Mr. Hickey was charged with: attempting to disarm a police officer, two counts of assault on a police officer, two counts of resist arrest, and escape lawful custody.

    Mr. Hickey currently has 31 charges before the courts. His next appearance is October 30, 2024.

    MIL Security OSI –

  • MIL-Evening Report: Scurvy is largely a historical disease but there are signs it’s making a comeback

    Source: The Conversation (Au and NZ) – By Lauren Ball, Professor of Community Health and Wellbeing, The University of Queensland

    Matilda Wormwood/Pexels

    Scurvy is is often considered a historical ailment, conjuring images of sailors on long sea voyages suffering from a lack of fresh fruit and vegetables.

    Yet doctors in developed countries have recently reported treating cases of scurvy, including Australian doctors who reported their findings today in the journal BMJ Case Reports.

    What is scurvy?

    Scurvy is a disease caused by a severe deficiency of vitamin C (ascorbic acid), which is essential for the production of collagen. This protein helps maintain the health of skin, blood vessels, bones and connective tissue.

    Without enough vitamin C, the body cannot properly repair tissues, heal wounds, or fight infections. This can lead to a range of symptoms including:

    • fatigue and weakness
    • swollen, bleeding gums or loose teeth
    • joint and muscle pain and tenderness
    • bruising easily
    • dry, rough or discoloured skin (reddish or purple spots due to bleeding under the skin)
    • cuts and sores take longer to heal
    • anaemia (a shortage of red blood cells, leading to further fatigue and weakness)
    • increased susceptibility to infections.

    It historically affected sailors

    Scurvy was common from the 15th to 18th centuries, when naval sailors and other explorers lived on rations or went without fresh food for long periods. You might have heard some of these milestones in the history of the disease:

    • in 1497-1499, Vasco da Gama’s crew suffered severely from scurvy during their expedition to India, with a large portion of the crew dying from it

    • from the 16th to 18th centuries, scurvy was rampant among European navies and explorers, affecting notable figures such as Ferdinand Magellan and Sir Francis Drake. It was considered one of the greatest threats to sailors’ health during long voyages

    • in 1747, British naval surgeon James Lind is thought to have conducted one of the first clinical trials, demonstrating that citrus fruit could prevent and cure scurvy. However, it took several decades for his findings to be widely implemented

    • in 1795, the British Royal Navy officially adopted the practice of providing lemon or lime juice to sailors, dramatically reducing the number of scurvy cases.

    Evidence of scurvy re-emerging

    In the new case report, doctors in Western Australia reported treating a middle-aged man with the condition. In a separate case report, doctors in Canada reported treating a 65-year old woman.

    There’s an abundance of vitamin C in our food supply, but some people still aren’t getting enough.
    Rebecca Kate/Pexels

    Both patients presented with leg weakness and compromised skin, yet the doctors didn’t initially consider scurvy. This was based on the premise that there is abundant vitamin C in our modern food supply, so deficiency should not occur.

    On both occasions, treatment with high doses of vitamin C (1,000mg per day for at least seven days) resulted in improvements in symptoms and eventually a full recovery.

    The authors of both case reports are concerned that if scurvy is left untreated, it could lead to inflamed blood vessels (vasculitis) and potentially cause fatal bleeding.

    Last year, a major New South Wales hospital undertook a chart review, where patient records are reviewed to answer research questions.

    This found vitamin C deficiency was common. More than 50% of patients who had their vitamin C levels tested had either a modest deficiency (29.9%) or significant deficiency (24.5%). Deficiencies were more common among patients from rural and lower socioeconomic areas.

    Now clinicians are urged to consider vitamin C deficiency and scurvy as a potential diagnosis and involve the support of a dietitian.

    Why might scurvy be re-emerging?

    Sourcing and consuming nutritious foods with sufficient vitamin C is unfortunately still an issue for some people. Factors that increase the risk of vitamin C deficiency include:

    • poor diet. People with restricted diets – due to poverty, food insecurity or dietary choices – may not get enough vitamin C. This includes those who rely heavily on processed, nutrient-poor foods rather than fresh produce

    • food deserts. In areas where access to fresh, affordable fruits and vegetables is limited (often referred to as food deserts), people may unintentionally suffer from a vitamin C deficiency. In some parts of developing countries such as India, lack of access to fresh food is recognised as a risk for scurvy

    • the cost-of-living crisis. With greater numbers of people unable to pay for fresh produce, people who limit their intake of fruits and vegetables may develop nutrient deficiencies, including scurvy

    Capsicums are a good source of vitamin D but they’re not cheap.
    Pexels/Jack Sparrow

    • weight loss procedures and medications. Restricted dietary intake due to weight loss surgery or weight loss medications may lead to nutrient deficiencies, such as in this case report of scurvy from Denmark

    • mental illness and eating disorders. Conditions such as depression and anorexia nervosa can lead to severely restricted diets, increasing the risk of scurvy, such as in this case report from 2020 in Canada

    • isolation. Older adults, especially those who live alone or in nursing homes, may have difficulty preparing balanced meals with sufficient vitamin C

    • certain medical conditions. People with digestive disorders, malabsorption issues, or those on restrictive medical diets (due to severe allergies or intolerances) can develop scurvy if they are unable to absorb or consume enough vitamin C.

    How much vitamin C do we need?

    Australia’s dietary guidelines recommend adults consume 45mg of vitamin C (higher if pregnant or breastfeeding) each day. This is roughly the amount found in half an orange or half a cup of strawberries.

    When more vitamin C is consumed than required, excess amounts leave the body through urine.

    Signs of scurvy can appear as early as a month after a daily intake of less than 10 mg of vitamin C.

    Eating vitamin C-rich foods – such as oranges, strawberries, kiwifruit, plums, pineapple, mango, capsicum, broccoli and Brussels sprouts – can resolve symptoms within a few weeks.

    Vitamin C is also readily available as a supplement if there are reasons why intake through food may be compromised. Typically, the supplements contain 1,000mg per tablet, and the recommended upper limit for daily Vitamin C intake is 2,000mg.

    Lauren Ball receives funding from the National Health and Medical Research Council, Queensland Health and Mater Misericordia. She is a Director of Dietitians Australia, a Director of Food Standards Australia and New Zealand, a Director of the Darling Downs and West Moreton Primary Health Network and an Associate Member of the Australian Academy of Health and Medical Sciences.

    – ref. Scurvy is largely a historical disease but there are signs it’s making a comeback – https://theconversation.com/scurvy-is-largely-a-historical-disease-but-there-are-signs-its-making-a-comeback-241894

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Asia-Pac: Speech by FS at Bloomberg Global Regulatory Forum in New York (English only) (with photos)

    Source: Hong Kong Government special administrative region

         Following is the speech by the Financial Secretary, Mr Paul Chan, at the Bloomberg Global Regulatory Forum in New York, yesterday (October 22, New York time): Mike (Founder of Bloomberg L.P. & Bloomberg Philanthropies, Mr Michael Bloomberg), Mr Cotzias (Global Head of External Relations of Bloomberg, Mr Constantin Cotzias), distinguished guests, ladies and gentlemen,     Good afternoon. I’m pleased to be here, in New York City, in fall. And delighted to hear that baseball, more than politics, is still the talk of the town.      Well, baseball and finance. For that, for hosting today’s Global Regulatory Forum, for consistently driving high-powered discussion on the future of global finance, my thanks to Bloomberg.     Last year’s Forum took place for the first time in Hong Kong, when we discussed how to navigate complexity and unlock opportunities. A year on, many things in the financial world have changed, and I’m pleased to bring you some positive updates about our city.Hong Kong: strong fundamentals     Despite several challenging years, from social violence to the pandemic, Hong Kong is back, back once again with a stable, welcoming and promising business environment.      Our strong fundamentals continue to be internationally recognised. Hong Kong ranks once again among the top three global financial centres, behind only New York and London.      Canada’s Fraser Institute has again ranked Hong Kong the world’s freest economy.      The International Monetary Fund and credit-rating agencies have reaffirmed Hong Kong’s institutional framework, our quality regulation and economic and financial resilience.      These commendations are echoed by the global investor community. Total banking deposits in Hong Kong, for example, have grown 5 per cent, or US$100 billion, this year to date, reaching more than US$2 trillion.      Our asset-and-wealth-management sector is also growing. We are managing over US$4 trillion in assets, and over half of that value was sourced from investors outside Hong Kong and the Chinese Mainland.      Coupled with easing interest rate cycles and the Mainland’s stimulus package to inject liquidity to the banking sector and provide more support to the real estate sector, our stock market has gone on a rally, rising some 15 per cent in the past month or so.       From late September to early October, we have seen strong net buys from American and European investors, constituting some 85 per cent of the buy side by value. And 90 per cent of those investors are long-term fund managers and investment banks.     International investors have good reason to be confident in Hong Kong. Our singular “one country, two systems” arrangement is here to stay, here for the long term.      That clear and compelling commitment has been reiterated, time and again, by President Xi Jinping. Indeed, the arrangement was designed not for short-term expediency but for the long-term interests of our country. It is clear that the Mainland is fully embracing high-level opening up, evident in the conclusions of state and party meetings in Beijing in the past year or so. The Mainland will support Hong Kong in remaining as a “super connector”, to assist in realising the country’s vision.      We can, and will, continue to do just that, thanks to the advantages that define Hong Kong’s international character: our common law tradition, a judiciary that exercises powers independently; the free flow of goods, capital, talent and information; a currency pegged to the US dollar; and business practices that align with the best international standards.     For so long, we have built our success as an international financial, trade and shipping centre on these merits, and they will continue to underpin Hong Kong’s development in the future.      Robust financial regulation     But still, Hong Kong is a small, fully open and externally-oriented economy. That means we are prone to external shocks and volatility. The trials and tribulations in the Asian Financial Crisis in 1998, the Global Financial Crisis of 2008, and the market squeeze during the onset of the COVID pandemic, are good lessons to learn.      Each time we weathered a crisis, we grew more resilient, but the take home message for us is clear: first, we need to identify systemic weaknesses and vulnerabilities, and address them. Second, establish multi-sectoral risk detection and monitoring systems to raise alarm against potential crises. Third, build in a strong buffer to allow us to respond to the unknowns.       This is particularly valid for Hong Kong which implements a linked exchange rate system. Hong Kong dollar is pegged to the US dollar, and therefore we must have sufficient monetary depth to enforce our convertibility undertakings and defend our currency board system. To ensure we have ample liquidity as we need it, we have a foreign exchange reserve of more than US$420 billion at our disposal.      In light of rising geopolitical and economic challenges, we’ve established a high-level, cross-market, co-ordinated and round-the-clock monitoring mechanism. It covers all sectors of the financial market and gathers all financial regulators, allowing us to detect looming risks.     I’m glad to report that over the past few years, our financial markets have been functioning in an orderly manner, despite volatility that might appear from time to time. The role of regulators in market development     Good regulation, of course, is only half the story. For the ultimate goal of regulation is to promote the healthy and sustainable development of the financial market. Good market development, in my view, is equally important, and it is the best means to future-proof our financial systems.      This requires the regulatory regime be agile and forward-looking. This requires the regime to respond to market and economic changes, embrace and empower technological innovation, and create the conditions for markets to thrive.      It’s why in Hong Kong, regulators have been given a dual mandate, serving both as regulators and market enablers.      Our listing regime reform is a good case in point. Back in 2018, the Government and the financial regulators made bold decisions to allow pre-profit or pre-revenue biotech companies, and new economy companies with weighted voting rights structures, to list on our stock exchange. The idea was met with doubt initially. But today the facts speak for themselves: new economy companies constitute only 13 per cent of the total number of listed companies, but their capitalisation accounts for 26 per cent. These reforms have not only broadened our market’s appeal but also put Hong Kong as a leading listing hub for innovative enterprises.     Reform is an ongoing process. For instance, last year we introduced a new Chapter in our listing rules to facilitate the listing of specialist technology companies.     Looking ahead, two key areas will be vital for Hong Kong’s financial future: enhancing our financial connectivity with the world, and embracing innovation.Enhancing Connectivity      Connectivity has always been the trump card of Hong Kong – although “trump” may be a word that you may now love or hate. For long, we have been the premier listing platform for Mainland companies going global. The launch of the “Stock Connect” 10 years ago was a landmark in forging close connectivity between the two markets. Its very significance was to allow foreign investors to make use of the Hong Kong Stock Exchange, and all the regimes, regulation and practices with which they are familiar, to access the Mainland’s stock market. Today, over 70 per cent of the A-share holdings by foreign investors were acquired through the Stock Connect. The Scheme has been continuously expanding, now covering bonds, ETFs, derivatives such as swap contracts.      Just in April this year, the China Securities Regulatory Commission announced four further measures to expand the Connect Schemes, including enlarging the scope of ETFs Connect, covering REITs in Stock Connect, and more. Meanwhile, it also made clear that they will support leading Mainland companies to list on the Hong Kong Stock Exchange. Obviously our IPO market has seen a rebound. In the first nine months this year, we raised more than US$7.1 billion, ranking fourth globally thus far.       Looking ahead, Hong Kong is also strengthening connections with other markets in the ASEAN countries, the Middle East and the Belt and Road countries. For instance, next week, we will be seeing the launch of two ETFs on the Saudi Stock Exchange investing in the Hong Kong Stock market.     So Hong Kong’s role as a connector of markets will only grow stronger. And with this, our financial regulators will continue to make it their strategic priorities to enhance collaboration with regulatory counterparts for timely and effective responses. Embracing innovation      Ladies and gentlemen, another area essential to our future is innovation.      In Hong Kong, we’re taking a balanced regulatory approach to enable financial innovation.      For example, last year, we introduced a regulatory regime for digital assets, along the principle of “same activity, same risks, same regulation”. The key feature is to put in place guardrails for investor protection, while enabling financial innovation to thrive in a responsible and sustainable manner.      So far, three firms have been issued with virtual asset trading platform licences, and we are expecting more in the next couple of months.      Besides, legislation will be introduced later this year for the regulation of stablecoins.      Then there’s also AI (artificial intelligence), which is reshaping the financial services industry, driving new products and services that enhance efficiency, security and customer experience.      Like blockchain and other new technologies, we must address the potential challenges of AI, such as cybersecurity, data privacy and the protection of intellectual property rights.      To that end, we will publish a policy statement next week. We will work to provide a clear supervisory framework and create a conducive and sustainable market environment.      Concluding remarks     Ladies and gentlemen, alongside changing global financial landscape comes far-reaching opportunity. Judging from Hong Kong’s experience, capturing such opportunities calls for the mentality of policy makers to focus not just on regulation compliance but also market development. For some, this may require a paradigm shift. But in our view, it will be an essential path to future-proof our financial markets, ensuring their long-term sustainable growth.      Finally, I wish to convey my thanks again to Bloomberg for inviting me to this Forum. I wish you all the best of business and health in the coming year. Thank you.

    MIL OSI Asia Pacific News –

  • MIL-OSI: Pulse Seismic Inc. Reports Q3 2024 Results and Approves Regular Quarterly Dividend

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, Oct. 22, 2024 (GLOBE NEWSWIRE) — Pulse Seismic Inc. (TSX:PSD) (OTCQX:PLSDF) (“Pulse” or the “Company”) is pleased to report its financial and operating results for the three and nine months ended September 30, 2024. The unaudited condensed consolidated interim financial statements, accompanying notes and MD&A are being filed on SEDAR (http://www.sedar.com) and will be available on Pulse’s website at http://www.pulseseismic.com.

    Today, Pulse’s Board of Directors approved a regular quarterly dividend of $0.015 per common share. The total dividend will be approximately $764,000 based on Pulse’s 50,904,663 common shares outstanding as of October 22, 2024, and will be paid on November 28, 2024, to shareholders of record on November 14, 2024. This dividend is designated as an eligible dividend for Canadian income tax purposes. For non-resident shareholders, Pulse’s dividends are subject to Canadian withholding tax.

    “While Pulse’s third quarter sales were not as robust as in 2023, it is common in our business to have significant variances between quarterly and annual results, which is why we focus on keeping costs low and maintaining a strong balance sheet,” stated Neal Coleman, Pulse’s President and CEO. “Already in October, we have completed another $2.7 million in sales, bringing year to date total revenue to $20.5 million,” Coleman continued. “We have consistently generated positive quarterly free cashflow and remain committed to providing a significant return of capital to shareholders. Pulse has declared $0.10875 per share in dividends up to today and bought back nearly 1.7 million shares under the NCIB in the first three quarters of the year. Total capital returned to shareholders is approximately 92% of the shareholder free cashflow generated as of September 30, 2024,” he concluded.

    HIGHLIGHTS FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2024

    • A regular quarterly dividend of $0.015 per share and a special dividend of $0.05 per share were declared and paid in the third quarter. For the nine-month period, regular quarterly dividends totalled $0.04375 per share. Regular and special dividends declared and paid in the first three quarters of 2024 totalled $4.8 million;
    • In the nine-month period ended September 30, 2024, Pulse purchased and cancelled, through its normal course issuer bid, 3.2% of the shares outstanding at December 31, 2023, for a total of 1,686,300 common shares at a total cost of approximately $3.7 million (at an average cost of $2.17 per common share including commissions);
    • At September 30, 2024, Pulse was debt-free and held cash of $7.5 million;
    • Shareholder free cash flow(a) was $1.1 million ($0.02 per share basic and diluted) for the third quarter of 2024 compared to $2.8 million ($0.05 per share basic and diluted) for the comparable period in 2023. Shareholder free cash flow was $10.0 million ($0.19 per share basic and diluted) for the nine months ended September 30, 2024, compared to $13.9 million ($0.26 per share basic and diluted) for the nine months ended September 30, 2023;
    • EBITDA(a) was $1.1 million ($0.02 per share basic and diluted) for the three months ended September 30, 2024, compared to $3.3 million ($0.06 per share basic and diluted) for the three months ended September 30, 2023. EBITDA was $11.7 million ($0.23 per share basic and diluted) for the nine months ended September 30, 2024, compared to $16.8 million ($0.32 per share basic and diluted) for the nine months ended September 30, 2023;
    • For the three months ended September 30, 2024, there was a net loss of $1.4 million ($0.03 per share basic and diluted) compared to net earnings of $393,000 ($0.01 per share basic and diluted) for the three months ended September 30, 2023. Net earnings for the nine months ended September 30, 2024, was $2.6 million ($0.05 per share basic and diluted) compared to net earnings of $6.7 million ($0.13 per share basic and diluted) for the nine months ended September 30, 2023; and
    • Total revenue was $2.7 million for the three months ended September 30, 2024, compared to $5.1 million for the three months ended September 30, 2023. For the nine months ended September 30, 2024, total revenue was $17.8 million compared to $22.3 million for the nine months ended September 30, 2023.
     
    SELECTED FINANCIAL AND
    OPERATING INFORMATION    		          
               
               
    (Thousands of dollars except per share data, Three months ended
    September 30,    		 Nine months ended
    September 30,    		 Year ended
    numbers of shares and kilometres of seismic data) 2024 2023 2024 2023 December 31,
      (Unaudited) (Unaudited) 2023
    Revenue        
    Data library sales 2,726 5,103 17,803 22,266 39,127
               
    Amortization of seismic data library 2,278 2,273 6,827 6,833 9,103
    Net earnings (loss) (1,405) 393 2,617 6,700 15,007
    Per share basic and diluted (0.03) 0.01 0.05 0.13 0.28
    Cash provided by operating activities 2,665 10,564 11,860 16,524 23,524
    Per share basic and diluted 0.05 0.20 0.23 0.31 0.44
    EBITDA (a) 1,064 3,289 11,711 16,839 30,431
    Per share basic and diluted (a) 0.02 0.06 0.23 0.32 0.57
    Shareholder free cash flow (a) 1,061 2,793 9,968 13,883 24,829
    Per share basic and diluted (a) 0.02 0.05 0.19 0.26 0.47
               
    Capital expenditures          
    Seismic data – – 225 – –
    Property and equipment 45 14 45 28 28
    Total capital expenditures 45 14 270 28 28
               
    Dividends          
    Regular dividends 766 731 2,255 2,138 2,862
    Special dividends 2,548 7,992 2,548 7,992 18,519
    Total dividends 3,314 8,723 4,803 10,130 21,381
               
    Normal course issuer bid          
    Number of shares purchased and cancelled 519,500 853,158 1,686,300 945,506 1,005,006
    Cost of shares purchased and cancelled 1,245 1,670 3,653 1,830 1,943
               
    Weighted average shares outstanding          
    Basic and diluted 51,071,111 53,135,041 51,640,483 53,436,340 53,237,569
    Shares outstanding at period-end     50,935,563 52,681,363 52,621,863
               
    Seismic library          
    2D in kilometres     829,207 829,207 829,207
    3D in square kilometres     65,310 65,310 65,310
               

    FINANCIAL POSITION AND RATIO

    		          
          September 30, September 30, December 31,
    (Thousands of dollars except ratio)     2024 2023 2023
    Working capital     7,460 7,820 7,468
    Working capital ratio     3.8:1 2.3:1 1.5:1
    Cash and cash equivalents     7,414 9,821 15,948
    Total assets     22,374 34,727 41,249
    Trailing 12-month (TTM) EBITDA (b)     25,303 17,306 30,431
    Shareholders’ equity     19,351 28,225 25,655
               

    (a) The Company’s continuous disclosure documents provide discussion and analysis of “EBITDA”, “EBITDA per share”, “shareholder free cash flow” and “shareholder free cash flow per share”. These financial measures do not have standard definitions prescribed by IFRS and, therefore, may not be comparable to similar measures disclosed by other companies. The Company has included these non-GAAP financial measures because management, investors, analysts and others use them as measures of the Company’s financial performance. The Company’s definition of EBITDA is cash available to invest in growing the Company’s seismic data library, pay interest and principal on long-term debt when applicable, purchase its common shares, pay taxes and the payment of dividends. EBITDA is calculated as earnings (loss) from operations before interest, taxes, depreciation and amortization. EBITDA per share is defined as EBITDA divided by the weighted average number of shares outstanding for the period. The Company believes EBITDA assists investors in comparing Pulse’s results on a consistent basis without regard to non-cash items, such as depreciation and amortization, which can vary significantly depending on accounting methods or non-operating factors such as historical cost. Shareholder free cash flow further refines the calculation by adding back non-cash expenses and deducting net financing costs and current income tax expense from EBITDA. Shareholder free cash flow per share is defined as shareholder free cash flow divided by the weighted average number of shares outstanding for the period.
    (b) TTM EBITDA is defined as the sum of EBITDA generated over the previous 12 months and is used to provide a comparable annualized measure.
    These non-GAAP financial measures are defined, calculated and reconciled to the nearest GAAP financial measures in the Management’s Discussion and Analysis.

    OUTLOOK

    So far in 2024, there have been a variety of factors influencing industry conditions which impact Pulse’s revenue generation. While land sales in Alberta at September 30, 2024 were approximately $300 million, down slightly from the $318 million for the same period in 2023, they remain significantly higher than in recent years going back to 2014. There are several notable infrastructure improvements which will lead to increased offtake capacity for Canadian oil and gas, such as the recent completion of the TMX pipeline expansion and the 2025 forecast completion of LNG Canada’s natural gas export facility. 2024 has also brought improvements in oil prices and an expectation by some for increasing natural gas prices in 2025. These positives, are offset by the factors that create uncertainty for the future, including economic, political, and environmental concerns. Pulse, as always, has low visibility regarding future seismic data library sales levels, regardless of industry conditions. The Company remains focused on business practices that have served throughout the full range of conditions. The Company maintains a strong balance sheet, has zero debt, no capital spending commitments, and a disciplined and rigorous approach to evaluating growth opportunities. This 15-person company, led by an experienced and capable management team, operates with a low-cost structure and focuses on developing excellent client relations as well providing exceptional customer service. Pulse’s strong financial position, high leverage to increased revenue in its EBITDA margin and careful management of its cash resources have resulted in the return of capital to shareholders through regular and special dividends and the repurchase of its shares.

    CORPORATE PROFILE

    Pulse is a market leader in the acquisition, marketing and licensing of 2D and 3D seismic data to the western Canadian energy sector. Pulse owns the largest licensable seismic data library in Canada, currently consisting of approximately 65,310 square kilometres of 3D seismic and 829,207 kilometres of 2D seismic. The library extensively covers the Western Canada Sedimentary Basin, where most of Canada’s oil and natural gas exploration and development occur.

    For further information, please contact:
    Neal Coleman, President and CEO
    Or
    Pamela Wicks, Vice President Finance and CFO
    Tel.: 403-237-5559
    Toll-free: 1-877-460-5559
    E-mail: info@pulseseismic.com.
    Please visit our website at http://www.pulseseismic.com

    This document contains information that constitutes “forward-looking information” or “forward-looking statements” (collectively, “forward-looking information”) within the meaning of applicable securities legislation. Forward-looking information is often, but not always, identified by the use of words such as “anticipate”, “believe”, “expect”, “plan”, “intend”, “forecast”, “target”, “project”, “guidance”, “may”, “will”, “should”, “could”, “estimate”, “predict” or similar words suggesting future outcomes or language suggesting an outlook.

    The Outlook section herein contain forward-looking information which includes, but is not limited to, statements regarding:

    >   The outlook of the Company for the year ahead, including future operating costs and expected revenues;
    >   Recent events on the political, economic, regulatory, public health and legal fronts affecting the industry’s medium- to longer-term prospects, including progression and completion of contemplated pipeline projects;
    >   The Company’s capital resources and sufficiency thereof to finance future operations, meet its obligations associated with financial liabilities and carry out the necessary capital expenditures through 2024;
    >   Pulse’s capital allocation strategy;
    >   Pulse’s dividend policy;
    >   Oil and natural gas prices and forecast trends;
    >   Oil and natural gas drilling activity and land sales activity;
    >   Oil and natural gas company capital budgets;
    >   Future demand for seismic data;
    >   Future seismic data sales;
    >   Pulse’s business and growth strategy; and
    >   Other expectations, beliefs, plans, goals, objectives, assumptions, information and statements about possible future events, conditions, results and performance, as they relate to the Company or to the oil and natural gas industry as a whole.
     

    By its very nature, forward-looking information involves inherent risks and uncertainties, both general and specific, and risks that predictions, forecasts, projections and other forward-looking statements will not be achieved. Pulse does not publish specific financial goals or otherwise provide guidance, due to the inherently poor visibility of seismic revenue. The Company cautions readers not to place undue reliance on these statements as a number of important factors could cause the actual results to differ materially from the beliefs, plans, objectives, expectations and anticipations, estimates and intentions expressed in such forward-looking information. These factors include, but are not limited to:

    >   Uncertainty of the timing and volume of data sales;
    >   Volatility of oil and natural gas prices;
    >   Risks associated with the oil and natural gas industry in general;
    >   The Company’s ability to access external sources of debt and equity capital;
    >   Credit, liquidity and commodity price risks;
    >   The demand for seismic data and;
    >   The pricing of data library licence sales;
    >   Cybersecurity;
    >   Relicensing (change-of-control) fees and partner copy sales;
    >   Environmental, health and safety risks;
    >   Federal and provincial government laws and regulations, including those pertaining to taxation, royalty rates, environmental protection, public health and safety;
    >   Competition;
    >   Dependence on key management, operations and marketing personnel;
    >   The loss of seismic data;
    >   Protection of intellectual property rights;
    >   The introduction of new products; and
    >   Climate change.
     

    Pulse cautions that the foregoing list of factors that may affect future results is not exhaustive. Additional information on these risks and other factors which could affect the Company’s operations and financial results is included under “Risk Factors” in the Company’s most recent annual information form, and in the Company’s most recent audited annual financial statements, most recent MD&A, management information circular, quarterly reports, material change reports and news releases. Copies of the Company’s public filings are available on SEDAR at www.sedar.com.

    When relying on forward-looking information to make decisions with respect to Pulse, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Furthermore, the forward-looking information contained in this document is provided as of the date of this document and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking information, except as required by law. The forward-looking information in this document is provided for the limited purpose of enabling current and potential investors to evaluate an investment in Pulse. Readers are cautioned that such forward-looking information may not be appropriate, and should not be used, for other purposes.

    PDF available: http://ml.globenewswire.com/Resource/Download/684389a6-5b96-4478-ba47-39eb0d1160a8

    The MIL Network –

  • MIL-OSI United Nations: 4 ways countries are strengthening women’s participation in security efforts

    Source: United Nations – Peacekeeping

    Written by Elssa Gbeily, a Strategic Communications Intern from Belgium and Lebanon focusing on gender issues with the UN Department of Peace Operations. She has a background in gender, peace and security.

    The full, equal and meaningful participation of women in all peacekeeping areas has been found to make our operations more effective and lets us better reflect and engage with the communities we serve. However, according to the latest data available, women still make up approximately 10% of peacekeeping’s police and military personnel.

    As UN military and police personnel are contributed by Member States, drawing from their own security institutions, troop and police contributors are critical to closing this gender gap. To help empower women peacekeepers and increase their numbers, UN Member States have committed to promote equal opportunity for all in their own security and defence institutions by identifying and removing barriers to women serving. This is making their own security sectors stronger while also leading to the deployment of more diverse military and police contingents to peacekeeping missions.

    On 17 October, the UN released its first-ever report on this issue, “Towards Equal Opportunity for Women in the Defence Sector.” It highlights that, despite the efforts of Member States to achieve gender equality, challenges and barriers still exist, making this a key issue for all. The report also showcases some innovative solutions that countries are using to boost women’s participation. Here are four standout best practices from the report:

    1. India: expanding opportunities for women in the armed forces

    India, a top contributor to UN peace operations, has made significant strides toward integrating women into its military forces. In 2020, the Indian Army began offering women permanent positions, giving them equal opportunities for career advancement. By 2022, the National Defence Academy admitted its first female cadets, symbolizing progress in building gender-equal pathways in military leadership.

    2. Canada: reforming military culture to promote inclusivity

    Canada is spearheading military reforms to eliminate gender bias and address sexual misconduct. In 2021, they established a Chief of Professional Conduct and Culture (CPCC to foster a safe and respectful environment for all service members. This cultural shift enhances the operational effectiveness of Canadian forces and, in turn, strengthens Canada’s peacekeeping deployments by ensuring inclusive participation.

    Colonel Marie-Ève Bégin, the Director General of the CPCC, highlighted that “the creation of [this new structure] shows our commitment to improving our organization’s culture.”

    3. Uruguay: empowering women in the armed forces through family support

    Uruguay has introduced initiatives to support women in its military, with a focus on deployment, helping them balance military service with caregiver responsibilities. With support from the Elsie Initiative Fund, the Ministry of Defence provides scholarships to cover childcare and elder care costs for deployed women and single parent families, regardless of gender, ensuring that caregiver obligations do not hinder participation in military operations and peacekeeping deployments.

    4. Ghana: training women for leadership in peacekeeping

    Ghana, another of UN Peacekeeping’s top troop-contributing countries, is addressing the challenge of advancing women’s careers in the national army by focusing on skills development, including in operational and tactical fields that are traditionally male-dominated, as well as on leadership opportunities.

    “We should continue to challenge gender stereotypes, call out discrimination, draw attention to biases and seek out inclusion,” says Commodore Faustina Anokye, the highest-ranking female officer in the history of the Ghanaian navy who also served as Deputy Force Commander of the UN peacekeeping mission in the Western Sahara (MINURSO).

    A global commitment to inclusive security

    Removing barriers to women who want to serve in the defence sector is a key way Member States are meeting their commitment to promote gender equality in peacekeeping missions. “If these institutions are not inclusive and representative,” said Alexandre Zouev, Assistant Secretary-General for Rule of Law and Security Institutions, “our gender parity efforts in peacekeeping will inevitably fall short.”

    Departments across the UN, through their Security Sector Reform (SSR) initiatives, are supporting Member States’ efforts to promote women’s participation in their defence sectors. The UN has also launched the Braking Barriers, Building Peace advocacy campaign, which is promoting equal opportunities in defence and security sectors around the world.  Through this work, the UN and its Member State partners are making peacekeeping more representative and responsive to diverse security needs, which is especially critical in today’s complex conflict environments.

    By committing to gender equality, the UN and its Member States are building more inclusive societies and enhancing sustainable peace and security for all.

    —

    This story is part of the “Action for Peacekeeping” (A4P) story series, which reports on efforts by the UN, its Member States, and other partners to strengthen peacekeeping operations, and the impact they have for people living in conflict areas.

    Women, Peace and Security is a key area of the A4P agenda and its implementation strategy A4P+, which seeks to enhance accountability to our peacekeepers. Supporting women’s full, equal, and meaningful participation in peace and political processes is central to enhancing operational effectiveness in peacekeeping and sustaining peace.

    MIL OSI United Nations News –

  • MIL-OSI USA News: Remarks by President  Biden on the Response to Hurricane Milton | St. Pete Beach,  FL

    Source: The White House

    Residential Area
    St. Pete Beach, Florida

    11:34 A.M. EDT

    THE PRESIDENT:  Hello, folks. 

    I just met a number of the homeowners, been wiped out, and the — everything from the Coast Guard to the fire department.  It’s a hell of a deal.

    I’m here in Florida for the second time in two weeks and — to survey the damage from another catastrophic storm: Hurricane Milton.  Thankfully, the storm’s impact was not as cataclysmic as had — we had predicted.  But on top of two [one] before it, it just keeps s- — seem we got to get — getting worse. 

    And bu- — you know, but for some individuals, it was cataclysmic — all those folks who not only lost their homes but, more importantly, those folks who lost their lives, lost family members, lost all their personal belongings.  Entire neighborhoods were flooded, and millions — millions were without power.

    Earlier this morning, I did an aerial tour of Saint Petersburg and the battered coastline.  I flew over Tropicana Field and — where the Tampa Bays play — Rays play, and the roof was almost completely off.  But thank God not many people were injured.

    I spoke with first responders who’ve been working around the clock.  I also met with small-business owners here and homeowners who’ve taken a real beating — these back-to-back storms.  And they’re heartbroken and exhausted, and their expenses are piling up.

    And I know from experience how devastating it is to lose your home.  Several years ago, my home was struck by lightning.  It didn’t all burn down, but we were out of the home for seven months while it was being repaired.  The thing I was most concerned about was not just the home; it was all those things, all those — all those pictures I saved, my — and my daughter had drawn when she was little, all the — all the family photographs, all the albums, all the things that really matter.  

    Folks, the — the fact is that when you lose your wedding ring and the old photos of your children, family keepsakes, things that can’t be replaced — but sometimes, from my own experience, that’s the part that hurts the most.

    And I’m standing next to the mayor of Pete’s Beach and the Chairwoman Peters.  Both their homes were damaged in Hurricane Milton.  The mayor’s home flooded, family vehicles washed away.  The county chair’s home had experienced significant damage in the past two storms previous.  They just finished rebuilding and settling back in, and now they have to do it all over again.   

    Both their families lost precious personal belongings, but they’ve stepped up not only to look out for themselves but to help other families, help their neighbors.  You know, that’s the resilience of the people of West Florida.

    And I want to thank them and all the public officials who suffered consequential losses because of the storm but who are out there doing things to help other people who had serious losses.  It matters.  The American people should know the sacrifices they’re making.

    You know, they’ve been steadfast partners as well.  We’ve been in frequent contact.

    And it’s in moments like this we come together to take care of each other, not as Democrats or Republicans but as Americans — Americans who need help and Americans who would help you if you were in the same situation.  We are one United States — one Unites States.

    I also came here to talk about all the progress we have made together.  This is a whole-of-government effort, from state and local to FEMA to U.S. Coast Guard, Army Corps of Engineers, the Energy Department, Environmental Protection Agency, Department of Defense, just to name a few.

    FEMA has delivered 1.2 million meals, over 300,000 liters of water, 2 million gallons of fuel.  And so far, we’ve installed 100 satellite terminals to restore communications in impacted areas so families can ton- — contact their loved ones to be sure everything is okay and be able to reach out for help as well.

    Speaking of help, so far, we’ve opened 10 disaster recovery centers in Florida, with more to come, so people can have one stop to meet with officials, get the federal help they’re entitled to that’s available to them, such as direct, immediate financial aid and no [low-]interest payment loans, mortgage relief, and so much more.

    You can also go online to DisasterAssistance.gov — DisasterAssistance.gov — or call 1-800-621-FEMA — F-E-M-A.

    Yesterday, after I signed the major disaster declaration, more than 250,000 Floridians registered for help — 250,000 — the most in sin- — any — a single day ever in the history of this country — 250,000.

    I know you’re concerned about the debris removal, and it’s obvious why.  We’re prioritizing debris removal and working with the state and local partners to clear roads, to get wreckage into — of the two hurricanes off properties, and so more folks can return home and businesses can receive much-needed deliveries of food, fuel, medicine, and other essentials.  That’s a priority for me.

    Power has also been restored to over 2 million people in a matter of days.  And thanks to tens of thousands of power workers from 43 states and Canada working nonstop, even more people will have more power restored soon. 

    Today, I’m proud to announce $612 million to six new cutting-edge projects to support communities impacted by Hurricane Helene and Milton.  That includes $47 million for Gainesville Regional Utilities and another $47 million for Florida Power & Light.

    This funding will not only restore power, but it’ll make the region’s power system stronger and more capable and reduce the frequency and duration of power outages while extreme weather events become more frequent. 

    In fact, we’ve been able to restore power quicker because of critical infrastructure investments were made both when I was vice president and president to harden the grid.  For folks at home, “the grid” means the electrical power system that transmits energy from the — where it’s produced in a power plant to where it’s used in homes and businesses. 

    We’ve been hardening the grid, like b- — like burying transmission lines underground, replacing wood power poles with concrete or composite poles so they don’t snap in the wind.

    Energy Secretary Granholm is here with me today leading this effort, and she’ll tell you more about it and other cutting-edge technologies on the grid in a moment.

    Let me close with this.  I’m here to porsonally — personally say thank you to the brave first responders — and I don’t want to underestimate that — brave first responders, men and women in uniform, utility workers.  (Inaudible) look at the number that showed up from around the country — from Canada — California, Nebraska, all over the country — to come here to help. 

    Men and women in uniform, as I said; health care personnel; neighbors helping neighbors; and so many more people.  This is all a team effort, folks.  You made a big difference.  And it’s saved lives.

    But there’s much more to do, and we’re going to do everything we can to get power back into your homes, not only helping you recover but to help you build back stronger.

    God bless you all.  And may God protect our first responders and protect our troops.

    Now I’m going to turn this over to Secretary Granholm.  Madam Secretary. 

    11:42 A.M. EDT

    MIL OSI USA News –

  • MIL-OSI USA News: FACT SHEET: U.S. Achievements in the Global Fight Against  Corruption

    Source: The White House

    Corruption poses a grave and enduring threat to U.S. national interests and those of our partners. When officials abuse their entrusted power for personal or political gain, the interests of authoritarians and corrupt actors win – at the expense of citizens, honest businesses, and healthy societies. As the Biden-Harris Administration took office, this longstanding challenge had metastasized. In some countries, oligarchs were teaming up with foreign kleptocrats to warp policy and procurement decisions in exchange for kickbacks – with no accountability. Corrupt officials were laundering stolen assets through the U.S. and global financial systems, while local investigators were ill-equipped to follow the money. Reformers in countries saddled with corruption had scarce public resources to actually address development needs. The Biden-Harris Administration tacked these challenges starting Day One, to ensure democracy delivers and corrupt actors are held to account.

    The first National Security Study Memorandum of the Biden-Harris Administration established countering corruption as a “core U.S. national security interest,” leading to the issuance in December 2021 of the first United States Strategy on Countering Corruption. Since then, the United States has taken action at home and around the world to curb illicit finance, hold corrupt actors accountable, forge multilateral partnerships, and equip frontline leaders to take on transnational corruption. The result has been historic progress in protecting the U.S. financial system from money-laundering, including in the residential real estate sector, while enhancing corporate transparency. This Administration has mobilized record levels of foreign assistance dedicated to anti-corruption, including $339 million in Fiscal Year 2023 alone – almost double the yearly average during the previous four years. This new assistance has unlocked support for anti-corruption institutions, leveled the playing field for law-abiding businesses, enabled journalists to team up across borders, and more. Expanded law enforcement cooperation and capacity-building have generated convictions of corrupt actors as well as the seizure, forfeiture, and return of criminal proceeds, while new anti-corruption offices at the Department of State (State) and the U.S. Agency for International Development (USAID) energized diplomatic and stakeholder engagement. The United States imposed sanctions on more than 500 individuals and entities for corruption and related activities, and established – for the first time in any jurisdiction globally – a new visa restriction for those who enable corrupt activity.

    U.S. progress on anti-corruption has produced concrete benefits for the American people and stakeholders around the world – enhancing prosperity, economic security, safety, and democracy, as outlined below. To bolster and sustain this work, the U.S. government has also modernized its approach to addressing corruption as a cross-cutting priority. Today, Deputy National Security Advisor for International Economics Daleep Singh will highlight the benefits of this work to American businesses and workers at a White House anti-corruption roundtable with leaders from 15 major U.S. companies.

    Advancing economic opportunity abroad

    • Improving the business enabling environment: U.S. assistance advanced governments’ capacity to prevent, detect, investigate, and prosecute corruption, while encouraging anti-bribery compliance. State expanded its Fiscal Transparency Innovation Fund – to help willing partners improve budget transparency – while holding countries to account for progress in its Fiscal Transparency Report. In the past two years alone, a newly expanded State-Federal Bureau of Investigations (FBI) program facilitated U.S. collaboration with foreign counterparts on more than 50 transnational corruption and money laundering cases with a U.S. nexus. In coordination with State, experienced legal advisors from the U.S. Department of Justice (DOJ) assisted foreign justice partners around the world in investigating and prosecuting corruption and money laundering cases, and recovering assets. And DOJ’s Kleptocracy Asset Recovery Initiative, in partnership with the FBI and the Department of Homeland Security, has recovered more than $1.7 billion and returned or assisted in returning more than $1.6 billion for the benefit of the people harmed by the corruption.
    • Enforcing our bans on foreign bribery and money-laundering – and pressing other countries to do the same: To enable honest companies to compete overseas, the United States upheld its commitments under the OECD Anti-Bribery Convention by enforcing its foreign bribery and related laws and working with partners to monitor other countries’ progress in implementing the Convention, which celebrated its 25th anniversary in 2024. Since the start of the Administration, DOJ has imposed more than $3.5 billion in total monetary sanctions under the Foreign Corruption Practices Act (FCPA) in 16 corporate resolutions, and announced charges against more than 70 individuals. For instance, this April the former Comptroller General of Ecuador was convicted of money laundering relating to his receipt of over $10 million in bribes from, among others, the Brazil-based construction conglomerate Odebrecht S.A. The Securities and Exchange Commission continued civil enforcement of the FCPA, with approximately $1 billion in total monetary sanctions in 22 corporate resolutions, spanning conduct in 24 countries, since the start of the Administration. DOJ is also enforcing the recently enacted Foreign Extortion Prevention Act, which criminalizes demands for bribes by foreign officials from U.S. companies and others. In addition, this August DOJ announced a new Corporate Whistleblower Awards Pilot Program to uncover and prosecute corporate crime – with a particular focus on foreign and domestic corruption, as well as violations by financial institutions of their obligations to take steps to detect and deter money laundering.
    • Seizing windows of opportunity: U.S. assistance has become more agile via the establishment of USAID’s Anti-Corruption Response Fund (providing flexible support to countries experiencing new opportunities or backsliding), the State-DOJ Global Anti-Corruption Rapid Response Fund (providing assistance and case mentoring to foreign partners on short notice), and USAID’s Democracy Delivers initiative (which has marshalled $500 million in funding from the United States and others to help reformers deliver, including on their anti-corruption commitments). These innovations, informed by USAID’s Dekleptification Guide, are enabling the U.S. government to more nimbly pivot toward environments where local momentum can be bolstered by outside assistance.
    • Bolstering integrity in high-risk sectors: In April 2024, the United States and its partners launched the Blue Dot Network – a mechanism to certify infrastructure projects that have met global standards for quality and sustainability, including transparency in procurement and provisions to limit opportunities for corruption. The United States also supported the launch of PROTECT, a collective action project to address corruption risk in the supply chain for critical minerals.
    • Strengthening corruption safeguards in the Indo-Pacific: In June, the United States and thirteen other partners held a signing ceremony, after concluding eight rounds of negotiations in record time, for the Indo-Pacific Economic Framework for Prosperity (IPEF) Fair Economy Agreement. The Agreement aims to create a more transparent, predictable trade and investment environment across IPEF partners’ markets, including through binding obligations to prevent and combat corruption. The Department of Commerce (Commerce) and State are accelerating implementation by offering new anti-corruption technical assistance to IPEF partners, including workshops on procurement corruption.
    • Dialoguing with the private sector: In 2021, State launched the Galvanizing the Private Sector as Partners in Combatting Corruption initiative, which connects companies and governments to strengthen business integrity and encourage governance reform. Commerce’s International Trade Administration organized the 2024 forum of the Business Ethics for Asia-Pacific Economic Cooperation (APEC) Small and Medium Enterprises Initiative – the world’s largest public-private partnership on ethical business conduct – at which stakeholders formalized policy recommendations on business integrity in public procurement.

    Protecting the U.S. financial system from abuse

    • Expanding corporate transparency: To deter kleptocrats and criminals from laundering money through anonymous shell companies, the Department of the Treasury (Treasury) operationalized a new filing system for certain companies operating in the United States to report their beneficial owners – the real people who own or control them – pursuant to the bipartisan Corporate Transparency Act. Treasury held hundreds of outreach events across all states and territories, reaching thousands of stakeholders, to enable companies to quickly and easily comply with this reporting requirement.
    • Closing loopholes for money-laundering: Treasury finalized rules to close two major loopholes in the U.S. financial system: (1) to increase transparency in the U.S. residential real estate sector, to ensure that law-abiding homebuyers are not disadvantaged by individuals laundering their ill-gotten gains, and (2) to safeguard the investment adviser industry from illicit finance. Treasury also proposed a rule to modernize financial institutions’ anti-money-laundering/countering the financing of terrorism (AML/CFT) programs, to make them more effective and risk-based. Together, these rulemakings represent historic advances for the U.S. AML/CFT regime, in line with international standards, that will help the United States urge other countries to undertake similar reforms to curb illicit finance. The Biden-Harris Administration has also called on Congress to close even more loopholes that facilitate money-laundering by passing the ENABLERS Act.
    • Blocking assets and denying entry to corrupt actors: Since the start of the Administration, Treasury has designated more than 500 individuals and entities for corruption and related activities, across six continents. That includes blocking the assets of 20 individuals and 48 companies in Fiscal Year 2024 for corruption in Afghanistan, Guatemala, Guyana, Paraguay, Western Balkans, and Zimbabwe. In tandem, State publicly issued corruption-related visa restrictions for 76 foreign officials and family members in Fiscal Year 2024, and 292 over the course of the Administration. These actions have protected the U.S. financial system from corrupt actors and promoted accountability in domestic jurisdictions. For example, just one week after the U.S. issuance of a public visa restriction on former Director of Bosnia-Herzegovina (BiH) Intelligence Services Osman Mehmedagic for significant corruption, he was arrested by BiH authorities for abuse of office.
    • Taking aim at enablers of corruption: In December 2023, President Biden issued an historic Presidential Proclamation establishing a visa restriction for those who facilitate and enable significant corruption and their immediate family members. This new visa restriction complements existing commitments to use sanction and law enforcement capabilities to target private enablers of public corruption. Earlier this year, the FBI and DOJ secured a guilty plea and a criminal penalty of $661 million from Gunvor – one of the largest commodities trading firms in the world – for facilitating bribery of Ecuadorian officials and laundering those bribes through U.S. banks. In addition, USAID launched new activities to incentivize integrity within professions that serve as gatekeepers to the international financial system.
    • Upholding international standards: The United States has helped lead efforts to expand anti-corruption work at the Financial Action Task Force (FATF), including improving assessment tools, mitigating risks associated with “golden passport” programs, and highlighting how non-financial sectors can be abused by corrupt actors.

    Keeping America and our partners safe

    • Addressing corruption risk in the security sector: Security sector corruption can divert essential supplies, empower malign actors, threaten the safety of U.S. service members, and undermine U.S. military missions writ large. In the past year, the Department of Defense (DOD) incorporated corruption risk into its security cooperation planning – subjecting certain proposals to further scrutiny and identifying risk mitigation measures as needed. State also created new resources to weigh corruption risk as part of security sector assistance decision-making. In addition, State’s Global Defense Reform Program and DOD’s institutional capacity building programs advanced more transparent, accountable, and professional defense institutions. DOD continued running a training course on combatting corruption for partner military commanders and civilian leaders.
    • Tackling organized crime and corruption: Transnational criminal organizations often rely on corruption to enable their criminal activities and evade accountability – which fuels narcotrafficking into the United States, human smuggling, cybercrimes, and more. The U.S. government is deploying anti-corruption tools to target criminal networks and their financial enablers, in line with the 2023 White House Strategy to Combat Transnational Organized Crime.
    • Standing up to Russia’s aggression: The United States has adapted to address the wartime needs of Ukraine’s anti-corruption stakeholders, as they close off a key vector for Russian dominance and advance Ukraine’s democratic future. In 2023, Ukrainian anti-corruption investigators and prosecutors achieved an 80 percent increase in prosecutions and a 50 percent increase in convictions, plus opened cases against high-ranking officials including the former head of the Ukrainian Supreme Court.  With U.S. support, Ukraine has advanced significant reforms on asset disclosure, launched a whistleblower portal, strengthened the National Anti-Corruption Bureau, and enhanced transparency and integrity in reconstruction.
    • Securing a greener future: The United States has integrated an anti-corruption lens across sectors, with particular emphasis on addressing corruption vulnerabilities that threaten a secure, just energy transition for all. This includes USAID support to the Extractive Industries Transparency Initiative (EITI), increased mining transparency in the Democratic Republic of Congo and Zambia, and innovations that address transnational corruption in green energy mineral supply chains across 15 countries.
    • Protecting global health: Corruption curtails the ability of states to respond to pandemics and undercuts access to basic healthcare. USAID is tackling this challenge by releasing cutting-edge guidance on anti-corruption in the health sector and launching integrated programming. For example, in Liberia the United States is working with the government to curb theft of pharmaceuticals through civil society monitoring, law enforcement trainings, and public awareness campaigns.
    • Addressing the root causes of migration: Combating corruption is a core component of improving conditions in El Salvador, Guatemala, and Honduras – so people do not feel compelled to leave their homes, in line with the U.S. Strategy for Addressing the Root Causes of Migration in Central America. Recent U.S. actions have included training up to 27,000 justice sector stakeholders in those countries to more effectively address corruption.

    Defending democracy by rooting out corruption

    • Tackling electoral corruption: When candidates can be bankrolled by foreign adversaries and institutions captured by kleptocrats, citizens lose faith in their governments—or even in democracy itself. In response, USAID has launched new programs to bolster electoral integrity, strengthen independent media, and increase the transparency of political finance in high-risk locations.
    • Lifting up civil society and independent media: The U.S. government has substantially expanded support to frontline activists and journalists, including through the Global Anti-Corruption Consortium. In addition, a new State Department initiative is training hundreds of journalists in transnational corruption investigations, while USAID’s new investigative journalist networks in Asia and Southern Africa are building capacity to track corruption across sectors and across borders. The Secretary of State established a new award for Anti-Corruption Champions, which has honored dozens of courageous civil society leaders and embattled reformers. In 2022, the United States also hosted the largest regular gathering of civil society activists fighting corruption – the International Anti-Corruption Conference – in Washington, DC, with keynote remarks from APNSA Jake Sullivan.
    • Protecting sovereignty: Authoritarian actors like Russia and the PRC use bribery to interfere in the policy, procurement, debt, and electoral processes of other countries – undermining both sovereignty and democracy. The United States is standing up to this tactic by building the resilience of frontline actors to detect and deflect foreign-backed strategic corruption, educating partners about the kleptocrats’ playbook, harnessing sanction tools to deter threats, and increasing collaboration between practitioners working on anti-corruption and those addressing foreign malign influence – both within the USG and with likeminded partners. For example, in June the United States joined with Canada and the UK to expose Russia’s use of corruption and covert financing, among other tactics, to undermine democratic processes in Moldova.
    • Restoring trust in American democracy: The Biden-Harris Administration has established the strongest ethics standards of any U.S. presidency. On his first day in office, the President signed an Executive Order requiring administration officials to take a stringent ethics pledge, which extends lobbying bans, limits shadow lobbying, and makes ethics waivers more transparent. The Administration also restored longstanding democratic norms by protecting DOJ cases from political interference, releasing the President’s and Vice-President’s taxes, and voluntarily disclosing White House visitor logs. And in the last year, the Office of Government Ethics finalized rules updating the standards for ethical conduct and legal expense funds for executive branch employees.
    • Protecting American democracy from malign finance: Just as we defend democracy around the world, the U.S. government is working to keep American democracy safe from foreign adversaries. Actions to curb money laundering in the United States can help reduce the ability of foreign and domestic actors to make illegal campaign contributions and evade U.S. election laws. President Biden has called on Congress to go even further by passing the DISCLOSE Act, which would curb the ability of foreign entities and special interests to use dark money loopholes to influence our elections.
    • Revitalizing participation in the Open Government Partnership (OGP): The United States rejoined the Steering Committee of OGP – a platform for civil society and governments to forge joint commitments and learn from each other– and provided assistance for OGP’s work on anti-corruption. Domestically, the United States has turbocharged OGP implementation by creating the U.S. Open Government Secretariat at the General Services Administration, an Open Government Federal Advisory Committee, an Interagency Community of Practice – spanning federal, state, local, tribal, and territorial governments, and engaged with hundreds of stakeholders to exchange lessons and expand transparency, accountability, and public participation. The United States also launched the first-ever Request for Information to feed into the 6th U.S. OGP National Action Plan and announced development of a toolkit to help federal agencies more meaningfully engage with the public.

    Modernizing and coordinating U.S. government efforts to fight corruption

    • Institutionalizing anti-corruption as an enduring priority: Over the past four years, Departments and Agencies have made substantial organizational improvements to elevate corruption concerns. For example:
      • The State Department’s new Office of the Coordinator on Global Anti-Corruption leads the integration of anti-corruption priorities into bilateral and other policy processes, conducts targeted diplomatic engagements, and drives strategic planning, including through the Department’s senior-level Anti-Corruption Policy Board. In the past year, the Office jumpstarted implementation of the Combating Global Corruption Act and completed an analysis of anti-corruption assistance to inform future State Department decision-making.
      • USAID’s new Anti-Corruption Center, within the newly established Bureau for Democracy, Human Rights, and Governance, serves as a hub of technical expertise and thought leadership – driving the integration of corruption considerations across USAID’s portfolio, supporting USAID Missions in developing localized approaches, managing a suite of programming focused on transnational corruption, and using its convening power and policy insights to forge strategic partnerships. Since 2022, USAID has released its first-ever Anti-Corruption Policy, which outlines a cross-sectoral approach to constraining opportunities for corruption, raising the costs of corruption, and incentivizing integrity – plus a host of tools to drive uptake across USAID.
      • FBI’s International Corruption Unit expanded an agreement with the State Department to deploy six regional anti-corruption advisors to strategic locations around the world, where they organize regional working groups with local law enforcement officials, provide case-base mentorship, and facilitate coordination with the International Anti-Corruption Coordination Centre.

    Expanded interagency capacity has been complemented by the National Security Council’s establishment of a dedicated Director for Anti-Corruption position, for the first time, to ensure whole-of-government coordination and advance anti-corruption within key policy processes.

    • Leading in multilateral fora: The United States has regained its leadership role in the international bodies that shape anti-corruption norms globally and can sustain momentum across time. In particular, the United States stepped into the presidency of the UN Convention against Corruption Conference of States Parties (UNCAC COSP), proudly hosting in December 2023 thousands of stakeholders in Atlanta, Georgia, led by the U.S. Representative to the United Nations Linda Thomas-Greenfield. As part of its commitment to championing the role of non-governmental actors in the fight against corruption, the United States facilitated record civil society participation in UNCAC working group meetings, hosted the first UNCAC Private Sector Forum, and supported inclusive implementation of UNCAC commitments in Latin America, East Africa, and Southeast Asia. The United States also participated in several peer reviews of our own anti-corruption practices over the last three years, and proudly made these results public. Alongside these multilateral fora, we convened the Global Forum on Asset Recovery action series to accelerate practitioner cooperation across the United States, Algeria, Honduras, Iraq, Moldova, Nigeria, Seychelles, Ukraine, the United Kingdom, and Zambia.
    • Understanding corruption dynamics: The Intelligence Community developed and disseminated new resources to bolster intelligence prioritization, collection and analysis on corrupt actors and their networks. USAID commissioned research on topics like countering corruption through social and behavioral change and State initiated an interagency anti-corruption learning agenda and a small grants program to support it.
    • Deepening external partnerships: The United States convened a series of coordination meetings with other bilateral donors and philanthropies in order to harmonize our anti-corruption approaches and galvanized anti-corruption resources across the donor community through the Integrity for Development campaign. USAID’s Countering Transnational Corruption Grand Challenge for Development brought together technologists, businesses, activists, and others to collaboratively address concrete corruption challenges.

    ###

    MIL OSI USA News –

  • MIL-OSI Canada: Statement from Minister of Community Services Richard Mostyn on the ShakeOut earthquake drill

    Source: Government of Canada regional news

    Minister of Community Services Richard Mostyn has issued the following statement:  

    “Yesterday, at 10:17 am, Yukoners joined millions worldwide in the Great ShakeOut earthquake drill. This important event teaches participants how to stay safe during an earthquake by practising, ‘Drop, Cover and Hold’.

    “Earthquakes can happen at any time, and most of the land in our territory is in a medium to high-risk zone for earthquakes. That’s why this drill is crucial for helping reduce the risk of injury.

    • Read more about Statement from Minister of Community Services Richard Mostyn on the ShakeOut earthquake drill
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    MIL OSI Canada News –

  • MIL-OSI Canada: Statement from Premier Pillai on the passing of Elder Patrick James

    Source: Government of Canada regional news

    Premier Ranj Pillai has issued the following statement:

    “It is with great sadness that I mark the passing of beloved Elder Patrick James.

    “Mr. James was a former Chief of Carcross/Tagish First Nation who was involved in negotiating the Self-Government Agreement and championed the recovery of the Southern Lakes caribou over 30 years ago.

    • Read more about Statement from Premier Pillai on the passing of Elder Patrick James
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    MIL OSI Canada News –

  • MIL-OSI Canada: The Government of Yukon provides update on October 18 on the Eagle gold mine

    Source: Government of Canada regional news

    The Government of Yukon provides an update to Yukoners regarding the progress of the remediation work and environmental monitoring at the Eagle Gold heap leach failure.

    On site, the berm is now 30 per cent complete. The pit pond extension is now complete adding 70,000 m3 of water storage bringing the total to 216,000 m3 built since the Receiver has been on site.

    • Read more about The Government of Yukon provides update on October 18 on the Eagle gold mine
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    MIL OSI Canada News –

  • MIL-OSI Canada: Statement from Minister of Tourism and Culture John Streicker on the Yukon’s collaborative heritage preservation efforts

    Source: Government of Canada regional news

    Minister of Tourism and Culture John Streicker has issued the following statement:

    “The Yukon is home to fascinating and internationally significant human and natural history. Protecting, preserving and interpreting that history is a core component of the Government of Yukon’s mandate. We do all of it in collaboration with Yukon First Nations – ensuring that everyone from youth to Elders to other community members have opportunities for involvement and knowledge exchange.

    • Read more about Statement from Minister of Tourism and Culture John Streicker on the Yukon’s collaborative heritage preservation efforts
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    MIL OSI Canada News –

  • MIL-OSI Canada: Minister Anandasangaree to announce Agricultural Benefits specific claims settlements with nine First Nations under Treaties 5, 6, and 10

    Source: Government of Canada News

    Minister Anandasangaree and Minister Boisonnault to announce Agricultural Benefits specific claims settlements with 9 First Nations under Treaties 5, 6, and 10.

    Enoch, Alberta — Please be advised that the Honourable Gary Anandasangaree, Minister of Crown-Indigenous Relations, and the Honourable Randy Boissonnault, Minister of Employment, Workforce Development and Official Languages, Grand Chief Cody Thomas of the Confederacy of Treaty No. 6 First Nations and Chief of Enoch Cree Nation, Frog Lake First Nation Chief Greg Desjarlais, and Kehewin Cree Nation Chief Trevor John, will hold a media availability to acknowledge and discuss Agricultural Benefits specific claims settlements.

    Media participation: 
    Media representatives are asked to RSVP to RCAANC.media.CIRNAC@sac-isc.gc.ca.

    Media representatives are invited to preposition 20 minutes before the start time of the media availability in the Glen Peacock room on the 9th floor of the River Cree Resort and Casino.

    Date: Friday, October 18, 2024

    Time: 3:00 p.m. (MT)

    Where: 
    Glen Peacock room 
    River Cree Resort and Casino
    300 East Lapotac Boulevard, 
    Enoch, AB T7X 3Y3

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

    MIL OSI Canada News –

  • MIL-OSI New Zealand: Unreported in New Zealand

    Source: ACT Party

    The Haps

    The Solicitor General backed down on prosecution guidelines that told prosecutors to ‘think carefully’ about someone’s race before prosecuting. It shows New Zealand has really changed. Not so long ago such policies bucketed down and people felt helpless. Now we are getting real change.

    CPI inflation at 2.2 per cent, amidst the 1-3 per cent target band, is the news we’ve been waiting for. Inflation first broke out in 2021, with high interest rates following close behind. It’s taken less than a year of the new Government, one mini-budget, and one budget to get it under control. Now the way is clear for significant further rate cuts at the next Reserve Bank announcement on November 27.

    Unreported in New Zealand

    Last week, the Nobel Prize in economics was awarded to three economists, Acemoglu, Johnson, and Robinson “for studies of how institutions are formed and affect prosperity.” You won’t have read about this in the New Zealand press, besides syndicated cut and paste jobs, even though it is about colonisation, institutions, and prosperity.

    The official Nobel Citation says: The richest 20 per cent of the world’s countries are now around 30 times richer than the poorest 20 per cent. Moreover, the income gap between the richest and poorest countries is persistent; although the poorest countries have become richer, they are not catching up with the most prosperous. Why? This year’s laureates have found new and convincing evidence for one explanation for this persistent gap – differences in a society’s institutions.

    The economists studied many countries’ histories over the last 400 years, focusing on the influence of European countries that colonised most of the world. They conclude that what kind of set-up, or institutions, those colonising countries left has a strong bearing on the colonised countries’ prosperity today.

    They divide countries into two types. There are inclusive countries, that give people equal rights, to vote, own property, and operate under the rule of law. There are extractive countries, set up to extract natural resources and benefit a small number of people.

    The extractive countries tend to be the ones that weren’t very welcoming to colonisers, for example if there was a lot of malaria. In these cases, e.g. African ones, a small number of settlers arranged to get the wealth out of the ground, and that was about it.

    The alternative is inclusive countries, with free markets, the rule of law and democracy. The United States is the obvious example, along with Australia, New Zealand, and Canada. These countries attracted settlers in large numbers and there were too many of them to simply exploit natural resources. Instead they created inclusive institutions.

    There is a twist, an historic reversal of fortunes. The countries that were relatively poorer before colonisation, and ended up adopting more colonial institutions, are now relatively wealthier.

    Another important observation is that history is not static. Over time, countries liberalise. Colonial institutions were not set down in a state of perfection, far from it. But they were capable of improvement, widening voting rights, compensating for past wrongs, and enhancing civil liberties.

    You are probably starting to get a sense of why this work has not been discussed in the NZ Press. It finds that institutions matter if you want people to be prosperous. It doesn’t matter where you start, it’s where you finish that counts, and that depends on adopting the best institutions, democracy, the rule of law, property rights, free speech, and all of those values that allow people to flourish.

    No doubt New Zealand universities will be holding book burnings in case these Nobel Prize winners’ ideas make students ‘feel unsafe.’ The same institutions trained the journalists, which may be why there’s been so little discussion about this.

    Nonetheless, somewhere in our future is a country where free and open debate is not only allowed but cherished. It would be a country where we can discuss what works to create prosperity.

    The central lesson of these economists’ work is really that wealth is not given or taken, it is not ‘owned’ rightfully by any historic group. It can be created, to the point that everyone is richer than 200 years ago, but some people are 30 times richer. The trick is to adopt the right institutions, the policies that work, as quickly as possible, and those institutions are democracy, free markets, the rule of law, and equal rights for all.

    MIL OSI New Zealand News –

  • MIL-OSI: Wendel announces a transformational transaction in line with its strategic roadmap

    Source: GlobeNewswire (MIL-OSI)

    PRESS RELEASE – OCTOBER 22, 2024

    Wendel announces a transformational transaction
    in line with its strategic roadmap

    • Acquisition of Monroe Capital LLC dramatically expands Wendel’s Asset Management platform and rebalances its business model towards more recurring cash flows and growth
    • Wendel’s Asset Management platform will represent c.€31 billion1 of AuM in private assets and is expected to generate c.€160 million2 of Fee Related Earnings and c.€185 million of total pre-tax profit in 2025

    Wendel (MF-FP) today announced that it has entered into a definitive partnership agreement including the acquisition of 75% of Monroe Capital LLC (“Monroe Capital” or “the Company”), and a sponsoring program of $800 million to accelerate Monroe Capital’s growth, and will invest in GP commitment for up to $200 million.

    For Wendel, the acquisition of a controlling stake in Monroe Capital, a private credit market leader focused on the U.S. lower middle market that has established an outstanding track record, would represent a significant and transformational advancement of the strategy it announced in March 2023 to develop its third-party asset management platform to complement its longstanding principal investments business.

    This transaction follows Wendel’s recent acquisition of IK Partners, a European leader in middle market private equity, as it seeks to build a scaled third-party asset management platform, based on strong performing General Partners with distinctive and focused expertise, an entrepreneurial mindset and an emphasis on the middle market. The embedded organic growth of those acquisitions will be complemented by Wendel’s unique value proposition which includes:

    • Capital to sponsor new strategies and fund organic and inorganic initiatives ($800 million in the sponsoring program and up to $200m of GP commitment for Monroe Capital)
    • Wendel’s network to develop long term strategic partnerships with highly regarded LPs (Wendel and Monroe Capital intend for AXA-IM Prime to participate in the transaction)
    • Cross selling opportunities by combining the expertise and client bases of GPs
    • Development of centralized fundraising platform to address new markets

    The transaction is subject to the satisfaction of closing conditions and receipt of regulatory approvals. It is expected to be completed in the first half of 2025.

    A private credit leader in the U.S. middle market with a demonstrated strong track record across market cycles

    Founded in 2004 by Ted Koenig, Monroe Capital provides private credit solutions to borrowers in the U.S. and Canada, managing $19.53 billion of assets across 45+ investment vehicles. Monroe Capital’s strategic verticals are Lower Middle Market Direct Lending, Alternative Credit, Software & Technology, Real Estate, Venture Debt, Independent Sponsor and Middle Market CLOs. Each vertical has demonstrated strong investment performance and offers potential for significant organic growth.

    Through July 1, 2024, Monroe Capital has directly originated over 700 transactions, has invested over $44 billion and has earned c.10% gross unlevered IRR4 for its directly originated transactions. Monroe Capital’s LP base is very broad and diversified, including public pensions, insurance companies, family offices and high net worth individuals from across the globe.

    The firm, which is headquartered in Chicago, maintains eleven offices, of which nine are in the U.S., one in Abu Dhabi, UAE and one in Seoul, South Korea. Monroe Capital has grown to a team of over 270 employees, including 110 investment professionals.

    A transaction aligning strategic interests of all stakeholders over the long-term

    The envisaged transaction is a strategic partnership in which Monroe Capital’s teams — who remain committed for the long term — will continue to operate independently and autonomously in day-to-day management of current markets and strategies, under the same brand. Monroe Capital’s Investment Committee also would remain fully independent.

    A key feature of the planned partnership will be the commitment of significant capital by Wendel to support Monroe Capital’s present and future funds, as well as the development of new strategies. The contemplated transaction would lead to the full acquisition by Wendel of Monroe Capital over time, with subsequent transactions structured to ensure alignment of interests of all stakeholders:

    (i)      Initial transaction

    As part of the initial transaction, which is expected to be finalized in the first half of 2025, Wendel shall invest $1.13 billion, to acquire 75% of Monroe Capital’s shares (50% from Monroe management and 25% from Bonaccord Capital Partners who is a minority interest owner of Monroe) together with rights to c.20% of the carried interest generated on past and future funds. Monroe management will continue to own 25% of the Company post-closing.

    (ii)      Long-term alignment and subsequent transactions

    This transaction aims to maintain a long term and uncapped alignment of interests between Wendel and Monroe Capital’s 23 partners and employees:

    The initial transaction involving 75% of Monroe Capital would be complemented by an earn-out mechanism in the maximum amount of $255 million, subject to Fee Related Earnings (“FRE”) performance thresholds (Max if CAGR above c.26%) in the period, and if achieved would be paid in cash in 2028.

    The total consideration for the 75% would correspond to c. 14.7x to 18.5x 2025e pre-tax FRE depending on the earn out effectively paid and a 4.2x 2025e pre-tax Performance Related Earnings.

    Wendel will have a path to purchase the remaining 25% of Monroe Capital’s shares in subsequent transactions (put / call mechanisms) that would take place in three instalments over 2028 and 2032 and be payable in cash. The purchase of the remaining 25% shares would be valued through variable purchase multiples determined depending on realized FRE growth.

    (iii)      Capital commitment

    In addition, to accelerate Monroe Capital’s growth, Wendel would seed future new initiatives launched by the Company, with sponsor money, up to a maximum of $800 million in total, thereby supporting Monroe’s growth and diversifying Wendel’s investments in asset classes. In addition, Wendel will fund GP commitment of c.1% of funds to be raised, up to a maximum of $200 million. In total, Wendel will invest $1 billion into Monroe Capital’s funds.

    (iv)      AXA IM Prime’s investment alongside Wendel

    In addition, Wendel and Monroe Capital intend for AXA IM Prime to participate in the transaction. Wendel and AXA IM Prime have longstanding relationship and have jointly worked since inception on the current transaction. Both companies are now in discussion to confirm AXA IM Prime investment (up to $50m) as a minority shareholder, through its GP-stake fund “AXA IM Prime Capital Partners I” (“PCP I”), alongside Wendel in Monroe Capital. AXA Group (CS-FP) is the anchor investor of PCP I and already a significant and historic Limited Partner in Monroe Capital’s funds.

    Wendel to become an Asset Manager alongside its historical Principal Investment activity

    Wendel’s ambition is to build a sizeable Asset Management platform managing investments in multiple private asset classes, alongside its historical Principal Investment activity. The development of the third-party Asset Management platform will provide Wendel with recurring and growing cashflows as well as exposure to multiple and high performing asset classes. As a result, Wendel’s dual business model is expected to generate an attractive and recurring return to shareholders.

    With IK Partners and Monroe Capital, Wendel’s third party private asset management platform will reach c.€31 billion in AUM5, c.€ 455 million revenues, c.€160 million pre-tax FRE (c.€101 million in pre-tax FRE (Wendel share) by 2025 and is expected to reach €150 million (Wendel share) in pre-tax FRE by 2027 through double-digit organic growth.

    This evolution of Wendel’s business model is designed to enable the development, over time, of a value-creating platform with the potential to generate operational synergies.

    The third-party Asset Management platform will be developed alongside Wendel’s Principal Investment strategy, with the objective of generating double-digit Total Shareholder Return.

    Laurent Mignon, Wendel Group CEO, commented:

    “One year after announcing the acquisition of 51% of IK Partners, we are proud to announce the acquisition of 75% of Monroe Capital LLC, creating a strong partnership with a private credit leader in the U.S. lower midmarket. This acquisition marks an important step forward for Wendel’s asset management platform, which we are committed to scaling. Wendel is becoming an asset manager alongside our decades-long activity as a long-term equity investor. Monroe Capital, founded by Ted Koenig in 2004, is a terrific company that has consistently delivered strong performance across various market cycles in North America, bolstered by a surge in demand for private credit solutions and with the scale to capitalize on the growing opportunity set we see in private credit. Monroe Capital is strategically positioned to capitalize on this increasing demand, attracting both institutional and retail investors.

    Through this partnership with Monroe Capital, we are thrilled to collaborate with Ted Koenig, Chairman and CEO, Zia Uddin, President, and their talented teams to support their success and their ability to deliver robust financial performance over the coming years. It will be also a great privilege for Wendel to partner with such a renowned investor as AXA IM Prime.

    Wendel is executing its strategic plan with determination, rigor and financial discipline, as demonstrated by this transformational acquisition, while also focusing on premium assets in our principal investment activities, highlighted by the recent acquisition of Globeducate. Our transformation to a dual-strategy model is now well-grounded, with top partners in asset management such as IK Partners in private equity and now Monroe Capital in private credit. Our priority for the near future will be to build our platform and to work on the rotation of our Principal Investment assets.

    I would like to express my gratitude to the Wendel teams for their unwavering dedication and to the Supervisory Board of Wendel for its constant support in driving this ambitious strategy forward.”

    Theodore L. Koenig, Chairman & CEO of Monroe Capital commented:

    “We are excited to partner with Wendel and AXA IM on this next chapter of Monroe’s growth. Their commitment to our business will provide meaningful and stable capital to thoughtfully scale our platform and better capture the attractive and expanding opportunity in middle market private credit. Specifically, Wendel’s $1 billion commitment will accelerate our client-centric growth strategy and deliver meaningful benefits to our global investor base.”

    UBS acted as exclusive financial advisor to Wendel and Kirkland & Ellis LLP acted as legal counsel to Wendel. Wendel was also assisted by Fenchurch Advisory for this transaction. Goldman Sachs & Co. LLC acted as exclusive financial advisor to Monroe Capital, and Fried, Frank, Harris, Shriver & Jacobson LLP acted as legal counsel to Monroe Capital.

    About Monroe Capital

    Monroe Capital LLC (“Monroe”) is a premier asset management firm specializing in private credit markets across various strategies, including direct lending, technology finance, venture debt, alternative credit solutions, structured credit, real estate and equity. Since 2004, the firm has been successfully providing capital solutions to clients in the U.S. and Canada. Monroe prides itself on being a value-added and user-friendly partner to business owners, management, and both private equity and independent sponsors. Monroe’s platform offers a wide variety of investment products for both institutional and high net worth investors with a focus on generating high quality “alpha” returns irrespective of business or economic cycles. The firm is headquartered in Chicago and maintains 11 offices throughout the United States and Asia.

    About Wendel

    Wendel is one of Europe’s leading listed investment firms. The Group historically has made long-term equity investments in European and North American companies that are leaders in their field, including its current investments ACAMS, Bureau Veritas, Crisis Prevention Institute, Globeducate, IHS Towers, Scalian, Stahl and Tarkett. With Wendel Growth, Wendel also invests via funds or directly in innovative, high-growth companies. In 2023, Wendel announced its intention to build out a third-party private asset management platform to complement its principal investment activities. In the first step in advancing this dual-strategy model, Wendel in May 2024 finalized the acquisition of a 51% stake in IK Partners.

    Agenda

    Thursday, October 24, 2024

    Q3 2024 Trading update – Publication of NAV as of September 30, 2024 (post-market release)

    Friday, December 6, 2024,

    2024 Investor Day.

    Wednesday, February 26, 2025

    Full-Year 2024 Results – Publication of NAV as of December 31, 2024, and Full-Year consolidated financial statements (post-market release)

    Thursday, April 24, 2025

    Q1 2025 Trading update – Publication of NAV as of March 31, 2025 (post-market release)

    Thursday, May 15, 2025

    Annual General Meeting

    Wednesday, July 30, 2025

    H1 2025 results – Publication of NAV as of June 30, 2025, and condensed Half-Year consolidated financial statements (post-market release)

    1 As of September 2024

    2 c.€101m of FRE expected in 2025, Wendel share.

    3 committed and managed capital (as of July 1, 2024)

    4 Across fully exited companies

    5 As of September 2024

    Attachment

    The MIL Network –

  • MIL-OSI New Zealand: Assessments – New Zealand, UK, and Australia lead global list of economies engaging in sustainable trade best practices

    Source: Hinrich-IMD Sustainable Trade Index 2024

    New Zealand has topped the Hinrich-IMD Sustainable Trade Index (STI) 2024 for the third consecutive year, with the United Kingdom (UK) following in second place and Australia securing third. 

    The Index measures how well trade contributes to mutually beneficial and balanced economic, social, and environmental outcomes among 30 trading economies. (ref. https://www.hinrichfoundation.com/research/wp/sustainable/sustainable-trade-index-2024 )

    New Zealand (first) retains its top spot for the third consecutive edition and leads the environmental dataset.

    The UK is second for the third edition in a row. However, it does perform worse than in 2023 in the economic dataset.

    Australia (third) has risen two positions since last year. Its greatest progress is in the environmental dataset.

    Crucially, building “workforce resilience” is becoming a major goal of governments and the private sector worldwide, the report signals. This means having a healthy, educated, and unexploited workforce, which allows economies to better withstand shocks and seize emerging opportunities. “National resilience” and “environmental resilience” are also key concerns.

    “Workforce resilience” is part of a broader trend to encourage “societal resilience,” the authors say. Societal resilience is the effect of investments that foster both economic and social stability. New Zealand, Canada, Australia, Taiwan, and Singapore do best here.

    The Index is a joint project between the Hinrich Foundation and the International Institute for Management Development (IMD) and is in its third year.

    It measures 30 economies, including members and applicants of major trade alliances, such as the Asia-Pacific Economic Cooperation (APEC), the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and the Regional Comprehensive Economic Partnership (RCEP).

    “The STI allows us to track how effectively trading economies are meeting the three pillars of sustainability: economic growth, societal advancement, and environmental stewardship. Achieving balanced outcomes between the three pillars is essential for resilience,” said Kathryn Dioth, CEO of the Hinrich Foundation.

    “By investing in human capital, countries can build adaptable workforces capable of thriving amid economic fluctuations and global challenges,” said Christos Cabolis, Chief Economist of the IMD World Competitiveness Center, which led the research for IMD.

    Other major findings include:

    ·         Global trade is increasingly shaped by protectionist regulations, where economies favor policies that strengthen domestic industries and secure supply chains. This shift toward industrial policy, aimed at building economic resilience, marks a long-term trend, resulting in the fragmentation of the global trading system.

    ·         Addressing climate resilience is complex because tackling climate change often requires regulatory interventions, whereas global trade flourishes with fewer barriers. The emergence of climate and trade agreements that promote trade in environmental goods and services could balance the dual objectives of open trade while addressing climate change. 

    ·         A few mid-ranking economies have shown consistent progress or stability over the last three years (2022-2024). Amongst them, Thailand gained three spots in the STI from 2022 to reach 12th place this year, Vietnam recorded a six-place rise, and Chile held a steady position at 11th across the three years.

    The Index measures 72 data points, categorized into three “pillars”: economic, societal, and environmental, considered by the researchers to be the main axes of sustainable trade. They represent economic growth, societal well-being, and environmental stewardship, respectively.

    A new indicator measuring universal health coverage (UHC) from the WHO’s Global Health Observatory (GHO) was introduced to the societal pillar in this edition.

    About the Hinrich Foundation

    The Hinrich Foundation is an Asia-based philanthropic organization that works to advance mutually beneficial and sustainable global trade. We believe sustainable global trade strengthens relationships between nations and improves people’s lives. We support original research and education programs that build understanding and leadership in global trade. Our approach is independent, fact-based, and objective. We are an authoritative source of knowledge, sharp analysis, and fresh thinking for policymakers, business, media, and scholars engaged in global trade.

    hinrichfoundation.com

    MIL OSI New Zealand News –

  • MIL-OSI: Black Gold Exploration Expands Acreage in Joint Venture with LGX Energy

    Source: GlobeNewswire (MIL-OSI)

    Vancouver, British Columbia, Canada, Oct. 22, 2024 (GLOBE NEWSWIRE) — BGX – Black Gold Exploration Corp. (“Black Gold” or the “Company”) (CSE: BGX) (FSE: P30) is pleased to announce the addition of 822 acres to the package of oil, gas and mineral leases in Clay County and Vigo County, Indiana that are subject to its ongoing joint venture with LGX Energy Corp. (“LGX”), bringing the total leased acreage subject to the JV to 911.9 acres (the “Leases”). When originally announced on August 7, 2024, the leased land package covered only 89.9 acres. This additional land package highlights LGX’s confidence in the JV and sets the stage for a strong long-term working relationship between the parties and success in these regions. The added acreage also strengthens Black Gold’s indirect foothold in one of the most promising oil-producing regions in the Midwest, where LGX is currently producing and is actively engaged in further exploration efforts.

    The acreage is strategically located near LGX’s existing production assets. LGX is utilizing its extensive proprietary 2D seismic data and has now initiated advanced 3D seismic exploration to identify high-potential drilling sites on the Leases, with the goal of significantly boosting oil and gas output in these key counties.

    Oil and Strategic U.S. Investment Opportunities

    With the ongoing conflict in the Middle East, the demand for stable and secure energy sources has intensified. The robust infrastructure in Clay County and Vigo County, combined with LGX’s advanced seismic technology, uniquely positions Black Gold’s joint venture with LGX to take advantage of immediate production opportunities while also setting the stage for future exploration growth. In a volatile energy market, this strategic focus on established regions highlights the potential for sustained returns and enhanced energy security, making it an appealing choice for stakeholders navigating the evolving energy landscape.

    “We are very excited with the larger lease holdings land parcel that LGX Energy Corp. has secured for our joint venture. This acquisition reinforces our commitment to providing stable, domestic energy sources in a market impacted by global instability. We hope that LGX’s advanced exploration efforts with 3D Seismic technology will ensure that we continue to identify high-potential drilling locations,” said Franciso Gulisiano, CEO of Black Gold.

    On behalf of the Company, 
    Francisco Gulisano 
    236-266-5174 
    Chief Executive Officer

    About Us

    BGX – Black Gold Exploration Corp. (CSE: BGX) (FRE: P30) is an oil and gas exploration company dedicated to creating shareholder value through the acquisition, exploration and development of oil and gas projects. BGX currently has assets in Argentina and the United States. For more information visit: https://www.bgxcorp.com.

    Forward-Looking Statements 

     

    The information in this news release includes certain information and statements about management’s view of future events, expectations, plans, and prospects that constitute forward-looking statements. These statements are based upon assumptions that are subject to risks and uncertainties. Forward- looking statements in this news release include, but are not limited to statements respecting: (i) the additional leases setting the stage for a strong long-term working relationship with LGX and strengthening Black Gold’s foothold in one of the most promising oil-producing regions in the Midwest; (ii) the identification of drill targets through 2D and 3D seismic exploration at the Clay and Vigo County properties and the goal of same; (iii) the intensification of demand for stable and secure energy sources; (iv) the Company being positioned to take advantage of immediate production opportunities while also setting the stage for future exploration growth; (v) the potential for sustained returns and enhanced energy security; (vi) the Company’s commitment to providing stable, domestic energy sources in a market impacted by global instability; and (vii) the Company’s strategic focus making it an appealing choice for stakeholders navigating the evolving energy landscape. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statement will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements, or otherwise. For a comprehensive overview of all risks that may impact the Company, please see the Company’s continuous disclosure documents filed on SEDAR+.

    Neither the CSE nor the CSE’s Regulation Services Provider (as that term is defined in the policies of the CSE) accept responsibility for the accuracy of this release.

    The MIL Network –

  • MIL-OSI: Falcon Oil & Gas Ltd. – Beetaloo Operational Update – Stimulation Campaign & Remaining Shenandoah South Pilot Project

    Source: GlobeNewswire (MIL-OSI)

    Falcon Oil & Gas Ltd.

    Beetaloo Operational Update – Stimulation Campaign & Remaining Shenandoah South Pilot Project

    24 January 2025 – Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) is pleased to announce the commencement of stimulation campaign at the Shenandoah S2-2H ST1 (“S2-2H ST1”) and Shenandoah S2-4H (“S2-4H”) wells in the Beetaloo Sub-Basin, Northern Territory, Australia with Falcon Oil & Gas Australia Limited’s (“Falcon”) joint venture partner, Tamboran (B2) Pty Limited (collectively the “Beetaloo JV partners”).

    Key Highlights of the Stimulation Campaign

    • Stimulation campaign will be completed across:
      • S2-2H ST1’s horizontal section of 1,654 metres (5,427 feet) and;
      • S2-4H’s horizontal section of 2,977 metres (9,766 feet).
    • Liberty Energy (NYSE: LBRT) who mobilised equipment and sand to location before the end of last year will carry out the stimulation campaign on behalf of the Beetaloo JV partners.

    Shenandoah South Pilot Project (“Pilot”)
    For the next drilling phase of the Pilot, which involves the drilling and stimulation of the remaining four wells, Falcon has elected to reduce its participating interest (“PI”) from 5% to 0%.

    Key Highlights of the Reduced Participating Interest

    • The election by Falcon to reduce its PI to 0% in the remaining four wells of the Pilot will significantly reduce it’s 2025 capital expenditure.
    • Falcon participated in the Shenandoah S-1H well in 2023 at its 22.5% PI which created a Drill Spacing Unit (“DSU”) of 20,480 acres.
    • Falcon participated in the S2-2H ST1 and the S2-4H wells in 2024 at its reduced 5% PI which created two DSU’s totalling 46,080 acres.
    • The Beetaloo JV partners are planning on creating an enlarged area around the Pilot, known as the First Strategic Development Area (“FSDA”), which would amalgamate the acreage and PIs from the DSUs mentioned above and any further DSUs that may be created as part of the Pilot
    • Depending on the ultimate size of the planned FSDA Falcon’s combined participation entitlement in the FSDA post the Pilot could be up to 10%.
    • Falcon also retains a 22.5% PI in the remaining 4.52 million acres in the Beetaloo, net 1 million acres to Falcon.

    Philip O’Quigley, CEO of Falcon commented:

    “We are extremely encouraged about the potential of the current stimulation program based on strong gas shows and other data observed whilst drilling both wells. In addition, we are very confident that the experienced US operator, Liberty Energy, will provide us with the greatest opportunity for the best possible outcome from this stimulation program. We look forward to updating the market on the IP30 flow test results as soon as they become available.

    Reducing our participation in the next four wells has a minimal impact on our overall interest in the Beetaloo which remains at 22.5%. This demonstrates the optionality afforded by the DSUs, which enable Falcon to strategically and efficiently deploy its capital. This reduction in our participation in the next four wells significantly reduces our 2025 capital expenditure whilst at the same time leaving us very well positioned to capture the overall success of the Beetaloo.
                                                 

    Ends.

    CONTACT DETAILS:

    Falcon Oil & Gas Ltd.          +353 1 676 8702
    Philip O’Quigley, CEO +353 87 814 7042
    Anne Flynn, CFO +353 1 676 9162
     
    Cavendish Capital Markets Limited (NOMAD & Broker)
    Neil McDonald / Adam Rae +44 131 220 9771
       

    This announcement has been reviewed by Dr. Gábor Bada, Falcon Oil & Gas Ltd’s Technical Advisor. Dr. Bada obtained his geology degree at the Eötvös L. University in Budapest, Hungary and his PhD at the Vrije Universiteit Amsterdam, the Netherlands. He is a member of AAPG.

    About Falcon Oil & Gas Ltd.

    Falcon Oil & Gas Ltd is an international oil & gas company engaged in the exploration and development of unconventional oil and gas assets, with the current portfolio focused in Australia. Falcon Oil & Gas Ltd is incorporated in British Columbia, Canada and headquartered in Dublin, Ireland.

    Falcon Oil & Gas Australia Limited is a c. 98% subsidiary of Falcon Oil & Gas Ltd.

    For further information on Falcon Oil & Gas Ltd. Please visit http://www.falconoilandgas.com

    About Beetaloo Joint Venture (EP 76, 98 and 117)

    Company Interest
    Falcon Oil & Gas Australia Limited (Falcon Australia) 22.5%
    Tamboran (B2) Pty Limited 77.5%
    Total 100.0%

    Shenandoah South Pilot Project -2 Drilling Space Units – 46,080 acres1

    Company Interest
    Falcon Oil & Gas Australia Limited (Falcon Australia) 5.0%
    Tamboran (B2) Pty Limited 95.0%
    Total 100.0%

    1Subject to the completion of the SS2H ST1 and SS4H wells on the Shenandoah South pad 2.

    About Tamboran (B2) Pty Limited
    Tamboran (B1) Pty Limited (“Tamboran B1”) is the 100% holder of Tamboran (B2) Pty Limited, with Tamboran B1 being a 50:50 joint venture between Tamboran Resources Corporation and Daly Waters Energy, LP.

    Tamboran Resources Corporation, is a natural gas company listed on the NYSE (TBN) and ASX (TBN). Tamboran is focused on playing a constructive role in the global energy transition towards a lower carbon future, by developing the significant low CO2 gas resource within the Beetaloo Basin through cutting-edge drilling and completion design technology as well as management’s experience in successfully commercialising unconventional shale in North America.

    Bryan Sheffield of Daly Waters Energy, LP is a highly successful investor and has made significant returns in the US unconventional energy sector in the past. He was Founder of Parsley Energy Inc. (“PE”), an independent unconventional oil and gas producer in the Permian Basin, Texas and previously served as its Chairman and CEO. PE was acquired for over US$7 billion by Pioneer Natural Resources Company.

    Advisory regarding forward-looking statements
    Certain information in this press release may constitute forward-looking information. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking information. Forward-looking information typically contains statements with words such as “may”, “will”, “should”, “expect”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “projects”, “dependent”, “consider” “potential”, “scheduled”, “forecast”, “outlook”, “budget”, “hope”, “suggest”, “support” “planned”, “approximately”, “potential” or the negative of those terms or similar words suggesting future outcomes. In particular, forward-looking information in this press release includes, details on the commencement of stimulation activities at S2-2H ST1 and S2-4H and the respective horizontal sections; Liberty Energy conducting the stimulation campaign; Falcon’s election to reduce its PI for the remaining four wells in the Pilot and it significantly reducing 2025 capital expenditure; the planned creation of the FSDA and Falcon’s combined participation entitlement in the FSDA post the Pilot could be up to 10% with the planned amalgamation of the acreage and PIs.

    This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. The risks, assumptions and other factors that could influence actual results include risks associated with fluctuations in market prices for shale gas; risks related to the exploration, development and production of shale gas reserves; general economic, market and business conditions; substantial capital requirements; uncertainties inherent in estimating quantities of reserves and resources; extent of, and cost of compliance with, government laws and regulations and the effect of changes in such laws and regulations; the need to obtain regulatory approvals before development commences; environmental risks and hazards and the cost of compliance with environmental regulations; aboriginal claims; inherent risks and hazards with operations such as mechanical or pipe failure, cratering and other dangerous conditions; potential cost overruns, drilling wells is speculative, often involving significant costs that may be more than estimated and may not result in any discoveries; variations in foreign exchange rates; competition for capital, equipment, new leases, pipeline capacity and skilled personnel; the failure of the holder of licenses, leases and permits to meet requirements of such; changes in royalty regimes; failure to accurately estimate abandonment and reclamation costs; inaccurate estimates and assumptions by management and their joint venture partners; effectiveness of internal controls; the potential lack of available drilling equipment; failure to obtain or keep key personnel; title deficiencies; geo-political risks; and risk of litigation.

    Readers are cautioned that the foregoing list of important factors is not exhaustive and that these factors and risks are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Falcon assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements unless and until required by securities laws applicable to Falcon. Additional information identifying risks and uncertainties is contained in Falcon’s filings with the Canadian securities regulators, which filings are available at http://www.sedarplus.com, including under “Risk Factors” in the Annual Information Form.

    Any references in this news release to initial production rates are useful in confirming the presence of hydrocarbons; however, such rates are not determinative of the rates at which such wells will continue production and decline thereafter and are not necessarily indicative of long-term performance or ultimate recovery. While encouraging, readers are cautioned not to place reliance on such rates in calculating the aggregate production for Falcon. Such rates are based on field estimates and may be based on limited data available at this time.

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

    The MIL Network –

  • MIL-OSI Economics: Agnico Eagle Announces Successful Take-Up of 94.1% of the Shares of O3 Mining and Mandatory Extension of Offer to February 3, 2025

    Source: Agnico Eagle Mines

    • All-cash offer of $1.67 per share representing a 58% premium to O3 Mining’s closing price on December 11, 2024
    • Agnico Eagle has satisfied the minimum tender condition and has taken-up and acquired 94.1% of the outstanding O3 Mining shares
    • Shareholders who have not already tendered should do so as soon as possible to take advantage of the significant offer as their brokers, banks or other intermediaries likely have tendering cut-off times well in advance of the expiry time of 11:59 p.m. (EST) on February 3, 2025
    • Tender your shares today for prompt payment. Contact Laurel Hill Advisory Group for assistance at 1-877-452-7184 or email assistance@laurelhill.com

    (All amounts expressed in Canadian dollars unless otherwise noted)

    TORONTO, Jan. 24, 2025 /CNW/ – Agnico Eagle Mines Limited (NYSE: AEM, TSX: AEM) (“Agnico Eagle“) and O3 Mining Inc. (TSXV: OIII, OTCQX: OIIIF) (“O3 Mining“) are pleased to jointly announce that Agnico Eagle has taken-up and acquired 110,424,431 common shares of O3 Mining (the “Deposited Shares“), representing approximately 94.1% of the outstanding common shares of O3 Mining (the “Common Shares“) on a basic basis, pursuant to its board-supported take-over bid (the “Offer“) for all of the outstanding Common Shares for $1.67 in cash per Common Share. The aggregate consideration payable for the Deposited Shares is $184,408,800. Agnico Eagle will pay for the Deposited Shares by January 28, 2025. All of the conditions of the Offer have been satisfied or waived.

    Agnico Eagle has extended the expiry time of the Offer by a mandatory period of 10 days to 11:59 p.m. (EST) on February 3, 2025 (the “Expiry Time“) in order to allow the remaining shareholders of O3 Mining to tender their Common Shares to the Offer and receive the all-cash offer price of $1.67 per Common Share.  

    O3 Mining’s President and Chief Executive Officer, Mr. José Vizquerra commented: “We are pleased to achieve this excellent and timely outcome for our shareholders who tendered their Common Shares to the Offer. While providing an opportunity for our shareholders to realize immediate value at a significant premium, the transaction will also enable the efficient advancement of the Marban Alliance project by Agnico Eagle, an experienced operator that has the financial strength, mining expertise and community commitment to take the project to its next stage of development.”

    Full details of the Offer are contained in Agnico Eagle’s take-over bid circular and in O3 Mining’s directors’ circular, which are available under O3 Mining’s profile on SEDAR+ (http://www.sedarplus.ca) and on O3 Mining’s and Agnico Eagle’s respective websites.  Agnico Eagle will file the Notice of Extension extending the Expiry Time to 11:59 p.m. (EST) on February 3, 2025 under O3 Mining’s profile on SEDAR+ (http://www.sedarplus.ca) and on O3 Mining’s and Agnico Eagle’s respective websites and mail the Notice of Extension to shareholders of O3 Mining in accordance with applicable law.  These materials contain important information on how to tender to the Offer.

    Next Steps and How to Tender Your Shares to Receive Prompt Payment

    Following the Expiry Time, Agnico Eagle intends to pursue a second-step transaction to acquire the remaining Common Shares not tendered to the Offer, as described in Agnico Eagle’s take-over bid circular available under O3 Mining’s profile on SEDAR+ (http://www.sedarplus.ca) and on O3 Mining’s and Agnico Eagle’s respective websites. 

    Remaining O3 Mining shareholders are strongly encouraged to tender their Common Shares to the Offer prior to the Expiry Time to ensure that they promptly receive the offer price of $1.67 per Common Share. O3 Mining shareholders whose Common Shares are held through a broker, bank or other intermediary should immediately contact that intermediary for assistance if they wish to accept the Offer – intermediaries have likely established tendering cut-off times that are prior to the Expiry Time.  Shareholders who do not tender prior to the Expiry Time will not receive payment for their Common Shares until the completion of the second-step transaction.

    For information on tendering your Common Shares, please contact Laurel Hill Advisory Group toll free at 1-877-452-7184 or by email at assistance@laurelhill.com.

    Shareholder type:

    How do I tender my Common Shares to the Agnico Eagle Offer?

    Beneficial

    Most O3 Mining shareholders are beneficial shareholders. This means your Common Shares are held through a broker, bank or other financial intermediary, and you do not have a share certificate or DRS advice.

    Contact your bank or your broker immediately and instruct them to tender your Common Shares to the Offer.

    Registered

    You are a registered shareholder if you hold your Common Shares directly and have a share certificate or DRS advice.

    Contact Laurel Hill Advisory Group:
    Phone: 1-877-452-7184
    Email: assistance@laurelhill.com

    For additional information regarding the Offer, please visit: https://www.agnicoeagle.com/Offer-for-O3-Mining/default.aspx and https://o3mining.com/agnico-eagle-mines-limited-offer-for-o3-mining-inc/.

    O3 Mining Board Transition

    In connection with the successful take-up of the Deposited Shares under the Offer, the board of directors of O3 Mining was reconstituted to include representatives of Agnico Eagle.  The O3 Mining board of directors is now comprised of continuing directors Amy Satov and Bernardo Alvarez Calderon and Agnico Eagle representatives Peter Netupsky, Carol Plummer, Jean Robitaille and Chris Vollmershausen.  Peter Netupsky is Vice President, Corporate Development of Agnico Eagle; Carol Plummer is Executive Vice President, Sustainability, People & Culture of Agnico Eagle; Jean Robitaille is Executive Vice President, Chief Strategy & Technology Officer of Agnico Eagle; and Chris Vollmershausen is Executive Vice President, Legal, General Counsel & Corporate Secretary of Agnico Eagle.

    At Agnico Eagle’s request, José Vizquerra and Elijah Tyshynski will continue in their roles as President and Chief Executive Officer and as Chief Financial Officer and Corporate Secretary of O3 Mining, respectively, until the completion of the second-step transaction.

    Additional Early Warning Disclosure Regarding O3 Mining

    Immediately prior to the take-up of the Deposited Shares under the Offer, Agnico Eagle beneficially owned, and exercised control and direction over, 1,057,753 Common Shares, representing approximately 0.9% of the issued and outstanding Common Shares on a basic basis, and 270,000 Common Share purchase warrants (the “Warrants“) exercisable for an aggregate of 270,000 Common Shares at an exercise price of $1.45 per Warrant.  In addition, Agnico Eagle held a convertible senior unsecured debenture in the principal amount of $10,000,000 dated June 19, 2023 (the “Convertible Debenture“).  Assuming the full exercise of all Warrants held by Agnico Eagle and the full conversion of the Convertible Debenture immediately prior to the take-up of Common Shares under the Offer, Agnico Eagle would beneficially own, and exercise control and direction over, 6,205,802 Common Shares, representing approximately 5.1% of the issued and outstanding Common Shares on a partially-diluted basis.

    Agnico Eagle acquired 110,424,431 Deposited Shares pursuant to the Offer, representing all of the Common Shares validly deposited and not withdrawn as of 11:59 p.m. (EST) on January 23, 2025, for aggregate consideration of $184,408,800 in cash.  As a result, as of the date hereof, Agnico Eagle beneficially owns, and exercises control and direction over, an aggregate of 111,482,184 Common Shares, representing approximately 95% of the issued and outstanding Common Shares on a basic basis.  Assuming the full exercise of all Warrants held by Agnico Eagle and the full conversion of the Convertible Debenture, Agnico Eagle would beneficially own, and exercise control and direction over, 116,630,233 Common Shares, representing approximately 95.2% of the issued and outstanding Common Shares on a partially-diluted basis.

    Early Warning Disclosure Regarding Cartier Resources

    Immediately prior to the take-up of the Deposited Shares under the Offer, (i) Agnico Eagle beneficially owned, and exercised control and direction over, 50,749,679 common shares (the “Cartier Shares“) of Cartier Resources Inc. (“Cartier“) and 7,000,000 Cartier Share purchase warrants (the “Cartier Warrants“), representing approximately 15.6% of the issued and outstanding Cartier Shares on a partially-diluted basis assuming the full exercise of the Cartier Warrants held by Agnico Eagle, and (ii) O3 Mining beneficially owned, and exercised control and direction over, 46,273,265 Cartier Shares, representing approximately 12.7% of the issued and outstanding Cartier Shares on a basic basis.

    As a result of Agnico Eagle’s acquisition of control of O3 Mining pursuant to the Offer, as of the date hereof, Agnico Eagle is deemed to beneficially own, and exercise control and direction over, an aggregate of 97,022,944 Cartier Shares, representing approximately 26.7% of the issued and outstanding Cartier Shares on a basic basis.  Assuming the full exercise of all Cartier Warrants held by Agnico Eagle, Agnico Eagle would be deemed to beneficially own, and exercise control and direction over, 104,022,944 Cartier Shares, representing approximately 28.0% of the issued and outstanding Cartier Shares on a partially-diluted basis.

    Agnico Eagle holds its Cartier Shares and Cartier Warrants for investment purposes. Depending on market conditions and other factors, Agnico Eagle may, from time to time, acquire additional Cartier Shares, Cartier Warrants or other securities of Cartier or dispose of some or all of its Cartier Shares, Cartier Warrants or other securities of Cartier that it owns at such time.

    Early Warning Disclosure Regarding STLLR Gold Inc.

    Immediately prior to the take-up of the Deposited Shares under the Offer, O3 Mining beneficially owned, and exercised control and direction over, 12,458,939 common shares (the “STLLR Shares“) of STLLR Gold Inc. (“STLLR“), representing approximately 10.1% of the issued and outstanding STLLR Shares on a basic basis.  Agnico Eagle did not beneficially own, or exercise control or direction over, any STLLR Shares.

    As a result of Agnico Eagle’s acquisition of control of O3 Mining pursuant to the Offer, as of the date hereof, Agnico Eagle is deemed to beneficially own, and exercise control and direction over, 12,458,939 STLLR Shares, representing approximately 10.1% of the issued and outstanding STLLR Shares on a basic basis. 

    Agnico Eagle holds its STLLR Shares for investment purposes. Depending on market conditions and other factors, Agnico Eagle may, from time to time, acquire additional STLLR Shares or other securities of STLLR or dispose of some or all of its STLLR Shares or other securities of STLLR that it owns at such time.

    Early warning reports in respect of the foregoing will be filed by Agnico Eagle in accordance with applicable securities laws. To obtain a copy of each early warning report, please contact:

    Agnico Eagle Mines Limited
    c/o Investor Relations
    145 King Street East, Suite 400
    Toronto, Ontario M5C 2Y7
    Telephone: 416-947-1212
    Email: investor.relations@agnicoeagle.com

    Agnico Eagle’s head office is located at 145 King Street East, Suite 400, Toronto, Ontario M5C 2Y7. O3 Mining’s head office is located at 155 University Avenue, Suite 1440, Toronto, Ontario M5H 3B7. Cartier’s head office is located at 1740, chemin Sullivan, bureau 1000, Val d’Or, Québec J9P 7H1. STLLR’s head office is located at 181 Bay Street, Suite 4260, Toronto Ontario M5J 2V1.

    Advisors

    Edgehill Advisory Ltd. is acting as financial advisor to Agnico Eagle. Davies Ward Phillips & Vineberg LLP is acting as legal advisor to Agnico Eagle.

    Maxit Capital is acting as financial advisor to O3 Mining. Bennett Jones LLP is acting as legal advisor to O3 Mining. Fort Capital is acting as financial advisor to the Special Committee of independent directors of O3 Mining. Cassels Brock & Blackwell LLP is acting as legal advisor to the Special Committee.

    The Depositary and Information Agent for the Offer is Laurel Hill Advisory Group. If you have any questions or require assistance with tendering to the Offer, please contact Laurel Hill Advisory Group, by phone at 1-877-452-7187 or by e-mail at assistance@laurelhill.com.

    About O3 Mining Inc.

    O3 Mining Inc. is a gold explorer and mine developer in Québec, Canada, adjacent to Agnico Eagle’s Canadian Malartic mine. O3 Mining owns a 100% interest in all its properties (128,680 hectares) in Québec. Its principal asset is the Marban Alliance project in Québec, which O3 Mining has advanced over the last five years to the cusp of its next stage of development, with the expectation that the project will deliver long-term benefits to stakeholders.

    About Agnico Eagle Mines Limited

    Agnico Eagle is a Canadian based and led senior gold mining company and the third largest gold producer in the world, producing precious metals from operations in Canada, Australia, Finland and Mexico, with a pipeline of high-quality exploration and development projects. Agnico Eagle is a partner of choice within the mining industry, recognized globally for its leading environmental, social and governance practices. Agnico Eagle was founded in 1957 and has consistently created value for its shareholders, declaring a cash dividend every year since 1983.

    Cautionary Note Regarding Forward-Looking Information

    This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation that is based on current expectations, estimates, projections, and interpretations about future events as at the date of this news release. Forward-looking information and statements are based on estimates of management by O3 Mining and Agnico Eagle, at the time they were made, and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information or statements. Forward-looking statements in this news release include, but are not limited to, statements regarding: the Offer, including the anticipated timing of expiration, mechanics, funding, completion, settlement, payment, results and effects of the Offer and the other benefits of the transaction; the advancement of the Marban Alliance project; any second-step transaction, including the timing for any such transaction and Agnico Eagle’s intentions with respect to any such transaction; and Agnico Eagle’s acquisition or disposition of securities of Cartier and/or STLLR in the future. Material factors or assumptions that were applied in formulating the forward-looking information contained herein include, without limitation, the expectations and beliefs of Agnico Eagle and O3 Mining that any second-step transaction will be successful and the ability to achieve goals, including the integration of the Marban Alliance property to the Canadian Malartic land package and the ability to realize synergies arising therefrom. Agnico Eagle and O3 Mining caution that the foregoing list of material factors and assumptions is not exhaustive. Although the forward-looking information contained in this news release is based upon what Agnico Eagle and O3 Mining believe, or believed at the time, to be reasonable expectations and assumptions, there is no assurance that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither O3 Mining, nor Agnico Eagle nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. O3 Mining and Agnico Eagle do not undertake, and assume no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by applicable law. These statements speak only as of the date of this news release. Nothing contained herein shall be deemed to be a forecast, projection or estimate of the future financial performance of Agnico Eagle or any of its affiliates or O3 Mining.

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

    View original content:https://www.prnewswire.com/news-releases/agnico-eagle-announces-successful-take-up-of-94-1-of-the-shares-of-o3-mining-and-mandatory-extension-of-offer-to-february-3–2025–302359489.html

    SOURCE Agnico Eagle Mines Limited

    MIL OSI Economics –

  • MIL-OSI Canada: Minister Joly speaks with U.S. Secretary of State Marco Rubio

    Source: Government of Canada News (2)

    The Honourable Mélanie Joly, Minister of Foreign Affairs, spoke yesterday with Marco Rubio, the United States’ new Secretary of State. The Minister congratulated Secretary Rubio on his appointment to the position and expressed that she is looking forward to working closely with him on priorities shared by the United States and Canada.

    MIL OSI Canada News –

  • MIL-OSI Canada: Canada Invests in Climate Change Adaptation to Keep Communities Safe in Southern Ontario and Across Canada

    Source: Government of Canada News (2)

    Today, Julie Dabrusin, Parliamentary Secretary to the Honourable Jonathan Wilkinson, along with Member of Parliament Bardish Chagger, announced over $4.5 million in funding for nine projects in southern Ontario or with a national reach under Natural Resources Canada’s Climate Change Adaptation Program (CCAP). These projects aim to enhance knowledge and skills among professionals, businesses and communities in southern Ontario and across Canada to adapt to a changing climate, through the development and delivery of tools, resources and training.

    MIL OSI Canada News –

  • MIL-OSI Canada: Government of Canada launches weekly briefings with industry stakeholders on Canada-U.S. economic relationship

    Source: Government of Canada News (2)

    Today, Chris Forbes, Deputy Minister of the Department of Finance Canada, hosted a briefing with Canadian industry and labour stakeholders and provincial and territorial representatives on Canada-U.S. economic issues. Canada’s Deputy Ambassador to the United States of America also joined the call.

    MIL OSI Canada News –

  • MIL-OSI Canada: Statement from the Council of Chief Medical Officers of Health on Nicotine Vaping in Canada as part of National Non-Smoking Week

    Source: Government of Canada News (2)

    Although significant progress has been made in the past several decades in reducing smoking rates in Canada, the Council of Chief Medical Officers of Health (CCMOH) want to highlight that smoking continues to pose a significant risk to the health of Canadians.

    MIL OSI Canada News –

  • MIL-OSI Canada: Statement from the Minister of Mental Health & Addictions and Associate Minister of Health on National Non-Smoking Week

    Source: Government of Canada News (2)

    Today marks the beginning of National Non-Smoking Week begins, a time to raise awareness about the heath risks of smoking and the importance of supporting those on their journey to a smoke-free life. Tobacco use continues to be one of the leading preventable causes of premature death in Canada, claiming approximately 46,000 lives a year.

    MIL OSI Canada News –

  • MIL-OSI USA: Sullivan Highlights Work to Advance Priorities of Alaska Native People at Annual AFN Convention

    US Senate News:

    Source: United States Senator for Alaska Dan Sullivan
    10.18.24
    ANCHORAGE, ALASKA—U.S. Senator Dan Sullivan (R-Alaska), addressing the Alaska Federation of Natives (AFN) annual convention today, spoke about the progress that has been made to advance the interests of Alaska Native people at the federal level in the past year, and highlighted work he is doing with Alaska Native communities to address challenges facing rural Alaska, like the devastating crash of salmon runs in parts of the state, limited access to affordable housing, the youth mental health crisis, and the disturbingly high rates of drug overdose deaths driven by fentanyl.
    [embedded content]
    Senator Sullivan discussed his work with the Alaska Eskimo Whaling Commission (AEWC) to secure the renewal of Alaska whaling captains’ quota at the recent International Whaling Commission (IWC) meeting in Peru; a new Alaska Salmon Research Task Force report created by his 2022 legislation; his team’s relentless efforts that led to a comprehensive ban on Russian seafood imports; and his efforts to address the Department of the Interior’s dismal implementation of his 2019 legislation to deliver Alaska Native Vietnam-era veterans the land allotments they are due.
    Finally, Sen. Sullivan also emphasized the legacy of patriotism of Alaska Native people and the critical ongoing military build-up taking place across Alaska.
    Below is a full transcript of Sen. Sullivan’s remarks.
    It’s an honor for me to be here today. AFN is certainly one of the highlights of the year for me, and for my wife, Julie, who is here in the audience today. I always look to her for my strength. She’s having a great time with her cousins and buying Christmas gifts for our family and friends.
    By the way, we are always amazed by the incredible crafts and artwork on display throughout the convention hall. To all of our skilled artisans, I want you to know I’ve just introduced two new pieces of legislation that I worked with many of you on to protect your rights as Alaska Native artists—and the next generation—to continue the centuries-old practice of using natural materials, like walrus ivory and bird feathers, in your artwork.
    That should be a no-brainer and we’re going to try and get a law passed to make sure that happens.
    I want to thank AFN leadership: Ana, Joe, and a big congratulations to Ben Mallott. We are excited about Ben’s strong leadership and his great experience with AFN. Ben, we are 100% behind you and think you’re going to do a great job here.
    And, of course, I know Julie Kitka has gotten a lot of accolades, and she deserves every single one of them. On the Senate floor back in D.C., I regularly give a speech about a special Alaskan, who we call the “Alaskan of the Week.” I try to get this every week. By the way—[there are] a lot of folks from our Alaska Native community who have been our “Alaskan of the Week.”
    So recently I gave a speech about Julie as our “Alaskan of the Week,” about her great service, and in that speech, I usually love to brag about that person, that Alaskan. But Julie Kitka, always humble, stressed that the great successes of AFN throughout her tenure were accomplished because of partnerships with all of you. She actually said when we were writing the speech, “Nothing I did was ever done alone.”
    Partnership is such a great leadership model. So, Julie Kitka, one more time—thank you for your great leadership. You’ve done such a great job.
    Alaska Travels
    As I always do, my Julie and I spent this past summer traveling to many rural Alaska communities including Saint Paul, Kotzebue, we were up on the Yukon, we were in the Ahtna region, to Nuiqsut and Utqia?vik. As always, we learned so much in our roundtable discussions, especially from our elders.
    We saw beautiful dancing. I tried to dance a little bit myself. That’s always embarrassing. We ate delicious food, met new friends and reconnected with old ones. So, again, to everybody that we were with—and it was with a lot of folks that summer—thank you for the warm, wonderful hospitality that we experienced literally everywhere we went. It is such a blessing of our Native communities.
    And as part of these travels, we were honored to attend Nalukataq in Utqia?vik.
    It’s magic when the whole community comes out to celebrate a cultural practice—subsistence whaling in this case—that Inupiat whalers have sustainably conducted for thousands of years.
    International Whaling Commission Meeting
    And this year, like six years ago, these same whaling captains were able to successfully renew—through very hard work—their quota at the International Whaling Commission (IWC) meeting in Peru.
    That is a big deal and deserves a round of applause. A really big deal. This has been a top priority of mine as your senator. As we know, success is never guaranteed at these International Whaling Commission meetings. The IWC has not always been a friend of our Alaska whaling captains. So before the big IWC meeting that was in Brazil in 2018 and in Peru this year, we all came together and put together a strategy with our whaling captains.
    We met with the U.S. State Department and NOAA to ensure the United States, as a country, had a coordinated strategy to make sure our Alaska Native whaling captains were able to get their IWC quota. That was part of the strategy. Both in 2018 and this past year in 2024, I hosted a reception in the U.S. Capitol. Here’s some photos from that.
    The goal of this reception was to invite the ambassadors, particularly from the countries that have not been friends of Alaska Native whaling, because we need their votes at this international convention. So if you see here at this convention, at one point, both in 2018 and in 2024, I looked across the reception area and literally every whaling captain had a Latin American ambassador with their arm around him.
    This is great lobbying on behalf of the IWC. And it worked! It worked because in Peru, just last month, our Alaska Whaling Eskimo Commission leaders were able to secure the first automatic quota renewal in IWC history. That is a giant triumph for Alaska Natives.
    In that regard, I want to do a big shout-out to AEWC Chair John Hopson Jr., the dynamic father-son duo of Crawford Patkotak, vice chair of the AEWC, and Josiah Patkotak, his son, the mayor of the North Slope Borough, and so many others. They all made it happen again. The children of the North Slope will look back at what the Alaska Eskimo Whaling Commission has achieved in the last 6 years and they will be grateful for decades to come.
    Salmon
    These whaling quotas are the kind of successes we can achieve when we unite behind a common mission.
    It’s more challenging, but this is also the approach I’m taking—working with so many of you—to address our salmon crisis.
    As you all know, we’ve had another banner year in terms of the strength certain salmon runs, like the Bristol Bay sockeye salmon run. But in the Yukon and Kuskokwim and other Interior rivers throughout our state, the runs have once again crashed. Representative Peltola talked very passionately about this yesterday, and our congressional delegation has always worked together to focus on these very important issues.
    I mentioned this to all of you before, but I’ll do it again. Over three decades ago, I was introduced to what salmon means to Native culture and people through my amazing wife Julie and her family’s fish camp near Hess Creek on the Yukon River. As a family, we have so many amazing memories and experiences at Julie’s family’s fish camp, particularly with our three daughters.
    And I know so many people have the same memories, learning how to head and gut and strip and smoke salmon on the banks of the Yukon, learning about their culture, about sharing, about family, about working together, about their heritage. When the Kings are running on the Yukon, it’s the most spiritual place in the world. When the fish aren’t running, and when the smoke houses are empty, it feels like something is very wrong with the universe.
    We experienced that feeling at Julie’s family’s fish camp this summer. We’re all worried—desperately worried—that a whole generation of children will miss out on this vital experience. It is soul wrenching.
    So here’s what I’m working on with all of you and, of course, with our congressional delegation.
    Alaskans can agree—we need to identify and address research prioritization gaps with comprehensive data and the best scientific minds, including Indigenous communities, to figure out the causes of these devastating salmon declines.
    That’s what my bill—the Alaska Salmon Research Task Force Act—does. This bill was passed into law. And here’s what it does. It brings the best minds in the world—state, federal, university, Indigenous, tribal—to figure out what is happening. It includes a specific working group focused on the Yukon and Kuskokwim.
    By the way, it probably doesn’t surprise you, but this bill was my wife Julie’s idea. And the Task Force report was just recently completed. This was required by the law. It’s at my booth and if you want a copy, we would love for you guys to take a look at my booth here at AFN. I want to thank so many in our Alaska Native community who took part in this Task Force and the research and the hard work of this report.
    This is what the Task Force recommends as we move forward. They call it “Gravel to Gravel,” “G to G,” which is a strategic approach that coordinates research where individual projects, regardless of whether they are led by state and federal, university, tribal or NGOs, will share information with other projects on what is happening to our salmon.
    With this critically important report now completed, my team and I will be working with all of you to build a comprehensive, well-funded salmon research program at the federal level on the goal that we all share: Achieving greater abundance and stability in our salmon stocks all across Alaska.
    Now, this won’t happen overnight, but you have my commitment that we will continue to work our hearts out on getting our salmon back in our rivers for our children, and our children’s children.
    We have to get to the bottom of this and address it. I certainly am committed to working with all of you on this.
    Another thing I know we can unite on in terms of a goal with regard to fisheries—which we’re able to achieve recently—is making sure that Russia can no longer flood America’s domestic markets with their cheap, unsustainable fish.
    After a long battle with the Biden administration, I was able to finally get them to ban Russian fish from coming into our country. When the Russians tried to circumvent this ban by sending their fish through Communist China, we shut down that loophole too. This will help all of our coastal communities, many of which are Native communities, and our Alaska fishermen.
    The Russian oligarchs say they’re in a war with Alaska’s fishermen. Well, we’re finally fighting back.
    This includes banning unsafe and often illegal Russian and Chinese trawlers who are likely contributing to depleting our own salmon runs here at home. I’m now pressing leaders from around the world—from Japan, to Canada, to Europe—to ban these fish.
    The world should want Freedom Fish from Alaska, not Communist Fish from China or Russia!
    Report on Children
    Now I want to turn to an incredibly important theme this year: Our Children, Our Future Ancestors. I really want to thank the commissioners, like Gloria O’Neil and Don Gray, and all of those who worked on “The Way Forward: Report of the Alyce Spotted Bear & Walter Soboleff Commission on Native Children.”
    To Gloria’s point during that last session, we certainly want to follow up with the work Gloria and others did in that important report. We don’t want to let that report go onto a shelf and collect dust. That report was spearheaded by legislation that Senator Murkowski wrote, that I co-sponsored. And, as Gloria and Don said, we know that the statistics are not great. As a matter of fact, they’re horrible.
    Too many Alaska Native children are experiencing poverty and abuse. Too many are in the juvenile justice system. Too many are experiencing mental health challenges.
    There have been many reports throughout the decades on the well-being of Alaska Native people. Gloria mentioned that in her comments just a few minutes ago. 30 years ago, if you look at this report my mother-in-law, Mary Jane Fate, worked on—the 1994 report that was also mandated by federal legislation. When she testified before Congress, she stated:
    “Today we find ourselves in a crisis situation. The outrageous school dropouts, high unemployment, hopelessness, and other tragic and sad endings such as the highest rates of suicides and accidents amongst our youth.”
    That was 30 years ago. The situation then was dire and still is if you look at the report that Gloria and Don just authored. But here’s the thing. We cannot lose hope. This is our youth, and we must recognize that there has been progress in the last 30 years since that last report, particularly significant improvement in education, in life expectancy, and in rates of poverty.
    So we must do more working together, and again, I want to thank Gloria and Don for their leadership.
    Mental Health
    One of the key issues in their report is resiliency. We need that, among all Alaskan kids, among all American kids. In that regard, mental health is key.
    As outlined in “The Way Forward” report, 31 percent of Alaska Natives told researchers: “My mental health is poor most of the time or always.” 21 percent of youth in the report said they had been bullied on social media or through texts.
    I know social media can be a great positive for many, particularly for those who live in Rural Alaska. But as we’re building out our historic broadband infrastructure in Rural Alaska, we need to understand that there is a very strong correlation between declining mental health and increasing social media use for all young Alaskans and for all young Americans.
    I have been very focused on this issue and can report important progress back in D.C. A few months ago, the Kids Online Safety and Privacy Act—of which I am an original cosponsor—passed the Senate with over 91 votes. “KOSA,” as we call it, gives parents significantly more control over what their kids are allowed to see online and limits harmful and addictive content that kids are bombarded with online.
    This is a good start, but we must do more to protect our children. We can have the strongest economy in the world, the best quality of life in the world, but none of that means anything if so many of our kids are depressed or considering ending their lives because of what they’re consuming online. We have to get started on this important issue.
    One Pill Can Kill
    Another issue that I’m very focused on that relates to our youth—this is a huge one—is the deadly fentanyl crisis that’s hit our state very hard, especially among our youth.
    The new numbers for 2023 just recently came out. Take a look at these slides. These numbers are shocking! The number one cause of overdose deaths in Alaska—particularly among our young people—are fentanyl overdoses, up roughly 45% from just last year. By the way, in other areas across the country these numbers are dropping dramatically. But in our state, they are continuing to surge. To surge!
    Alaska Natives account for 33% of drug overdose deaths from fentanyl last year. Our kids need to be educated about this lethal drug. That’s why my team and I, working with schools and organizations across the state, have launched the “One Pill Can Kill” campaign.
    What is it? It’s educating our youth that even a tiny, tiny bit—look at how small that is on a pencil tip—a tiny bit of fentanyl can be lethal. They need to know the drugs they buy on the streets or from friends, including marijuana, can be laced with fentanyl and can kill you. They need to know that one pill can kill.
    I would very much like to partner with AFN and other Native organizations across Alaska on this campaign. You can find information about it on my website and at my booth downstairs. But here’s the bottom line: If we can save even one young Alaskan’s life with this campaign, then it will be worth it.
    Housing
    Now, as you all know, raising healthy families with healthy children requires safe, affordable housing. Let’s face it, in pretty much every part of Alaska, especially Rural Alaska, we don’t have that.
    Last August, I hosted the Secretary of Housing and Urban Development in Alaska. A number of you were there at our roundtable that was focused on the outrageously high cost of housing in rural Alaska.
    The Secretary of HUD, she runs a big bureaucracy back in D.C. Unfortunately, we are still waiting for HUD’s recommendations on how to reduce the federal red tape that is a part of the problem of the high cost of housing in Rural Alaska. But here’s the deal. We shouldn’t have to wait. We can do so much of this ourselves.
    I’ve seen incredible innovation in housing during all of my travels throughout Rural Alaska. Last summer, Julie and I saw how Native leaders in Huslia and Hughes were building affordable, beautiful housing—just like in this photo—at much more competitive costs.
    These great leaders in our state weren’t waiting for the D.C. bureaucrats to give them permission to build. I’ll never forget in 2018, when I was in Holy Cross, talking about housing with World War II veteran Luke Demientieff and his son Leonard, a Vietnam veteran. Both are master carpenters. Leonard shared with me some wise words from an elder who had been looking out at the vast expanse of an Alaskan forest. This elder said, “There’s a house in the woods. You just have to go get it. You have to build it.”
    In other words, this community wasn’t waiting for the federal government to act. They got a sawmill and they started building. That is the kind of can-do spirit we need as Alaskans to address this housing shortage.
    Alaska Native Vietnam Veterans Allotments
    I think a number of you know that in my AFN remarks, I like to always talk about—and I certainly don’t have to remind all of you—about Alaska Native Veterans incredible patriotic history of military service to our country. Already this morning, I’ve seen several Alaska Native veterans. If you’re a veteran or a family member of a veteran, could you please stand or raise your hand to be recognized by this audience?
    You all know this, but it bears repeating: Generation after generation, Alaska Native people have served our country in the military at higher rates than any other ethnic group in America. That is what I call special patriotism, particularly when they were still facing shameful discrimination back home.
    Alaska Vietnam veterans really got hit hard. They were serving their country when, let’s face it, a lot of Americans were avoiding service. They came home, and because they were Vietnam Vets, many were treated disgracefully.
    This happened to my good friend Bill Thomas who said one day he was fishing in Haines, the next day he was in bootcamp at Fort Lewis, and then sent to the jungles of Vietnam.
    Nearly two years later, after his combat tour, Bill was flown to California, dazed, the smell of jungle still on his skin, fear still in his gut. On the way to being discharged, he had to drive past a group of protestors, yelling despicable things at him.
    On top of that, Bill, like so many other Alaska Native Vietnam veterans missed the deadline to apply for their Native allotment—the one that they were legally entitled to but missed because they were serving their country in a war overseas. His story was not unique.
    So working with many of you here—I see Benno Cleveland and others—I was able to pass my Vietnam Veterans Allotment Act in 2019 that righted this injustice. That is now the law. It gave our Alaska Native Vietnam veterans the ability to apply for a Native allotment.
    Unfortunately, the implementation of this bill has been dismal, despite Secretary Haaland’s commitment to me on making this a priority of hers.
    In the past four years, the Department of Interior has only certified 38 Alaska Native Vietnam-era [Veteran] allotments out of the over 2,000 Alaska Native Vietnam veterans who were eligible for this. That’s a disgrace and time is running out.
    That’s why I’ve introduced a new bill to extend the Alaska Native Vietnam Veterans Allotment Program for five more years, and importantly, to expand the lands available, particularly in Southeast, where we have such a high number of Vietnam veterans and where it’s been very challenging for our Vietnam veterans to get land close to their home.
    Here’s the challenge on my bill, and I’m going to need AFN’s help on this one: Every radical Lower 48 environmental group is going to come out and try to kill my bill. They don’t want Alaska Natives to have their own land and they certainly don’t want to honor our Vietnam veterans’ heroic service. We all need to fight back against them. Our cause is just. Our cause is so very just on this bill.
    I’m hoping that AFN and others—I’ve asked the Alaska Native Brotherhood, the Alaska Native Sisterhood—we can all work together and support my bill and continue to bring justice to our Alaska Native Vietnam veterans.
    Vietnam Veterans Resolution
    Finally, as it relates to our Vietnam veterans, like Bill Thomas and Benno and so many others, I was recently able to pass a Senate resolution—which, by the way, passed in the Senate unanimously—commending our Vietnam veterans for their courage and sacrifice. The resolution urges the President, on behalf of the Congress, to formally acknowledge the widespread mistreatment of our Vietnam veterans when they came back home.
    It offers a long overdue apology, and it calls for increased education in our schools, for our children, to learn about and understand and respect the courage and sacrifice of these heroes during the Vietnam War.
    Kake and Angoon
    There is another apology that I want to mention. This one also relates to our military. I think many know that I deeply respect our military. Last February, I retired from the Marines Corps after 30 years of service.
    But that doesn’t mean our military is perfect. No organization is perfect.
    I believe that in instances where our country has fallen short of our ideals and has harmed our own citizens, then an apology can be the right thing to do and it’s an important gesture for reconciliation.
    The egregious and unwarranted U.S. military assaults on the Alaska Native people of Kake and Angoon in the late 1800s is such a case.
    When Dr. Rosita Worl brought these historic wrongs to my attention, and mentioned the Tlingit people’s decades-long pursuit of recognition and an apology, I told my team in the Senate that we would work tirelessly with Alaska Native leaders to press this issue at the highest levels of the United States Navy and the Pentagon until these communities received an appropriate apology. That’s what we were able to do.
    Last month, some of you may have seen it, hopefully some of you were there, the U.S. Navy held a ceremony to present the apology in Kake—an official ceremony. There will be another ceremony in Angoon in a few days. Julie and I will be looking forward to attending.
    I am hopeful that these recognition ceremonies will help provide healing and importantly, show our youth that our country is so strong that it can admit its mistakes to become even stronger.
    Arctic and National Security
    Finally, let me turn to an issue that I have heard about from so many of you in your communities and where I want to compliment our brave Alaska-based military.
    We all know it’s becoming an increasingly dangerous world. We are in a new era of authoritarian aggression with dictators in Beijing, Moscow, Iran and North Korea on the march and working together. As Alaskans, we are on the front lines of this new Cold War. We’ve seen this with dramatically increased joint Chinese and Russian patrols in the air and on the seas, near our shores and our skies. You’ve seen these photos—Chinese bombers, Russian subs, Russian fighters near our aircraft. Very aggressive. Our military here has done a great job of protecting our country, just like Alaska Natives have done over the decades.
    Throughout history, our Alaska Native people have courageously served and defended our country. Think about it: the Alaska Territorial Guard, the Eskimo Scouts, the Tlingit code talkers. And of course, as I mentioned earlier, the super high number of Alaska Natives who serve their country in uniform. I’m absolutely confident that with this strong legacy of patriotism and service and a continued build-up of our own military here in Alaska, which I am very focused on, we as a country and as a state will once again prevail over these authoritarian dictatorships.
    Internships
    So let me end with one final plea. It’s related back to the theme of our youth and the theme of this conference. It’s just a pitch from my office. We have a very robust internship program. Representative Peltola yesterday mentioned one young Alaska Native leader, Sam Hiratsuka, who started in my office as an intern. He rose in my office, then went to Mary’s office, and just two days ago, was the youth speaker at the AFN Elders and Youth Conference. Sam is doing a great job and is showing the next generation of leaders how to lead.
    So here’s my pitch: We need more interns, Alaska Native interns. I have information at my booth, and I urge all of you to spread the word.
    We need our Alaska Native people working on Native issues in all branches of our federal government. It’s a great experience for them. They are the future, and we want to encourage that kind of service. With that, to the leadership of AFN, to Julie, and others, thank you again. My Julie and I are very honored to be here.
    We always love coming to AFN. Thank you, everybody.

    MIL OSI USA News –

  • MIL-OSI Security: Deer Lake — RCMP assisting fire services at a structure fire in Deer Lake

    Source: Royal Canadian Mounted Police

    The Deer Lake RCMP is assisting fire services at a large structure fire in Deer Lake.

    This morning, at approximately 7 a.m., RCMP officers responded to a structure fire at hospitality establishment on Nicholsville Rd. near Main St. At this time, out of an abundance of caution due to a large propane tank on site, officers have evacuated nearby residences and continue to conduct traffic control.

    We are asking the public to avoid the area to allow first responders to do their work.

    Further information will be provided as it becomes available.

    File # 2024-1544681

    MIL Security OSI –

  • MIL-OSI Europe: Joint donor statement on Humanitarian Access in Sudan

    Source: Government of Sweden

    Joint donor statement on Humanitarian Access in Sudan by the UK, USAID, Norway, Sweden, France, Germany, Netherlands, Ireland, Switzerland, Canada and the European Commissioner for Crisis Management.

    The people of Sudan are experiencing one of the world’s worst humanitarian crises. 25 million people, half of Sudan’s population, are in urgent need of assistance. Fighting between the Sudanese Armed Forces (SAF) and Rapid Support Forces (RSF) has forced approximately 11 million from their homes, fleeing horrific violence and severe hunger since the outbreak of conflict 18 months ago. Women and girls are facing severe protection risks, including widespread sexual violence and other grave human rights violations. 

    In August, famine conditions were confirmed in Zamzam camp for internally displaced people – home to over 500,000 people. This marks the third official famine determination in the 21st century. On 9 October, in addition to the ongoing risk of famine in areas of greater Darfur, we were alerted that urban and rural areas of South Kordofan are now at elevated risk of famine due to continuing conflict and siege-like conditions. 

    The conflict between SAF and RSF and the two sides’ systematic obstruction of local and international humanitarian efforts is at the root of this famine. The war has driven civilians from their homes – uprooting them from their livelihoods. People have been increasingly forced into harmful coping strategies, and are more at risk for being trafficked. It has damaged agricultural production and disrupted trade flows and market functionality, resulting in a severe deterioration in the production of and access to food. 

    In Darfur, only a fraction of the aid needed to feed 7 million acutely food insecure people has been allowed in since August. Untold numbers of people have already died, and many more will die as a result. An immediate and coordinated scale-up of assistance, together with full, safe and unhindered humanitarian access to populations in need, is urgently required to mitigate the large-scale loss of life. We condemn that, despite the overwhelming urgency, both SAF and RSF persist in obstructing the humanitarian response. 

    In addition, bureaucratic impediments by both the Sudan’s Humanitarian Aid Commission and the Sudan Agency for Relief and Humanitarian Operations continue to impede the delivery of assistance at the necessary scale. The Sudanese authorities must recognize that it is essential to work in partnership with humanitarian actors in Sudan, allowing them to address the most urgent needs independently and unhindered. Bureaucratic obstacles that are primarily designed to obstruct the delivery of aid, such as delays in issuing visas and travel permits, will continue to prevent life-saving support to the most vulnerable communities – including those seeking safety from the RSF’s assault on El Fasher in Northern Darfur. The recent treatment of the inter-agency Mission in Darfur is unacceptable and underlines this pattern of obstructive behaviour. The UN and partners must be able to engage with all parties to the conflict to ensure that lifesaving aid reaches people in urgent need wherever they are. 

    The parties have a duty to comply with their obligations under international humanitarian law to protect civilians and humanitarian personnel. In practice, this means the removal of all arbitrary restrictions on the Adre border crossing from Chad, including the 3-month time limit, opening of all possible cross-border routes without impediment, and agreeing on routes for humanitarian aid across conflict lines. In this regard, we recall the clear commitment of Chairman of the Sovereign Council, General Al-Burhan, to alleviate and remove all obstacles facing humanitarian actions. 

    We welcome the fulfilment of the humanitarian pledges made during the Paris Conference for Sudan and neighbouring countries on 15 April and recent progress of the Advancing Lifesaving and Peace in Sudan (ALPS) group in improving cross-border and crossline access. We call on the SAF and the RSF to engage and to deliver on their existing commitments and obligations for the sake of the Sudanese people. 

    Last month, world leaders gathered at the UN General Assembly called for the immediate cessation of hostilities and urgent action in support of Sudan. This is needed now more than ever, with the escalation of the hostilities causing displacement, destruction and death. 

    MIL OSI Europe News –

  • MIL-OSI Canada: Advancing agricultural trade relationships

    Source: Government of Canada regional news

    Alberta’s agri-food industry is driven by exports and continues to set consecutive records for agricultural exports, which were valued at $17.9 billion in 2023. The United States is Alberta’s top export market for agriculture and agri-food products, and Mexico is the fourth-largest export market.

    To further strengthen trade relations between Canada, the United States and Mexico, Minister Sigurdson will serve as the Canadian delegation lead at the 2024 Tri-National Agricultural Accord in Arlington, Virginia from Oct. 21 to 23. The annual event is an opportunity for senior provincial and state agricultural officials and industry representatives to come together and work collectively on agricultural trade, market challenges and development issues.

    “The accord represents a longstanding commitment among our three nations to collaborate and advance agricultural trade and development within North America and abroad. I’m honoured to lead the Canadian delegation and work together with our trading partners and industry representatives to maintain a resilient, integrated agricultural sector that’s renowned for bringing high-quality products to the world.”

    RJ Sigurdson, Minister of Agriculture and Irrigation

    Throughout the accord, Minister Sigurdson will continue to build and enhance intergovernmental relations while engaging with key elected and appointed officials from the United States and Mexico. During sessions, he will reaffirm Alberta’s and Canada’s commitment to an integrated and economically viable North American agri-food economy. The minister will also advocate for the agricultural industry in Alberta and Canada, while exploring opportunities to expand trade into new and emerging markets.

    Minister Sigurdson will be accompanied by one staff member and three department representatives. Expenses will be posted on the travel and expense disclosure page.

    Itinerary for Minister Sigurdson

    Oct. 20
    • Minister Sigurdson travels to Arlington, Virginia

    Oct. 21-23
    • Meet with leaders and participate in the Tri-National Agricultural Accord

    Oct. 23
    • Travel to Alberta

    Quick facts

    • Canada and the U.S. share one of the largest bilateral agricultural trade relationships in the world with C$91.9 billion in total agricultural trade in 2023.
      • The U.S. remains Alberta’s largest agri-food export market and accounted for almost 50 per cent of the province’s $17.9 billion in agriculture and agri-food exports in 2023.
      • In 2023, top exports to the U.S. included beef ($3.1 billion), canola/mustard oil (crude) ($1.2 billion), live cattle ($992 million) and processed potatoes ($717 million).
    • In 2023, Alberta-Mexico bilateral agricultural trade was $1.2 billion.
      • Mexico is Alberta’s fourth-largest agri-food export market, following the U.S., China and Japan.
      • In 2023, agriculture and agri-food accounted for about 83 per cent ($749 million) of Alberta’s total exports to Mexico.
      • That year, top exports to Mexico included beef ($258 million), canola seed ($219 million), wheat ($114 million), pork ($49 million) and malt ($36 million).
      • In 2023, Alberta’s imports from Mexico were valued at $437.5 million with fruits and vegetables comprising 83 per cent of these imports.

    MIL OSI Canada News –

  • MIL-OSI Security: Deer lake — Update: RCMP continue to assist fire services in Deer Lake

    Source: Royal Canadian Mounted Police

    The Deer Lake RCMP continue to assist fire services at a hospitality establishment fire in Deer Lake.

    This morning, at approximately 7 a.m., RCMP officers responded to a structure fire on Nicholsville Rd. near Main St. Upon arrival, RCMP officers learned that a woman had been treated for minor injuries by paramedics.

    At this time, fire services continue their work and there’s no public safety risks associated with the propane tank at the scene. RCMP officers will remain at the scene to provide traffic control.

    Investigators are continuing to contact all persons that were in the hotel at the time of the fire. Currently, it’s believed that everyone has been accounted for.

    We continue to ask the public to avoid the area to allow first responders to do their work.

    File # 2024-1544681

    MIL Security OSI –