Category: Canada

MIL-OSI: Hut 8 Schedules Second Quarter 2025 Earnings Release and Conference Call

Source: GlobeNewswire (MIL-OSI)

MIAMI, July 07, 2025 (GLOBE NEWSWIRE) — Hut 8 Corp. (Nasdaq | TSX: HUT) (“Hut 8” or the “Company”), an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive use cases such as Bitcoin mining and high-performance computing, today announced it will release financial results for the second quarter of 2025 before the market opens on August 7, 2025. The Company will host a conference call and webcast to review the results on the same day at 8:30 a.m. ET.

Conference Call and Webcast Details

Date: Thursday, August 7, 2025
Time: 8:30 a.m. ET

Investors can join the live webcast here. Analysts can register here.

Supplemental Materials and Upcoming Communications

The Company expects to make available on its website materials designed to accompany the discussion of its results, along with certain supplemental financial information and other data. For important news and information regarding the Company, including investor presentations and timing of future investor conferences, visit the Investor Relations section of the Company’s website, https://hut8.com/investors, and its social media accounts, including on X and LinkedIn. The Company uses its website and social media accounts as primary channels for disclosing key information to its investors, some of which may contain material and previously non-public information.

About Hut 8

Hut 8 Corp. is an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive use cases such as Bitcoin mining and high-performance computing. We take a power-first, innovation-driven approach to developing, commercializing, and operating the critical infrastructure that underpins the breakthrough technologies of today and tomorrow. Our platform spans 1,020 megawatts of energy capacity under management across 15 sites in the United States and Canada: five ASIC Colocation and Managed Services sites in Alberta, New York, and Texas, five high performance computing data centers in British Columbia and Ontario, four power generation assets in Ontario, and one non-operational site in Alberta. For more information, visit www.hut8.com and follow us on X at @Hut8Corp.

Hut 8 Corp. Investor Relations
Sue Ennis
ir@hut8.com

Hut 8 Corp. Public Relations
Gautier Lemyze-Young
media@hut8.com

The MIL Network –

July 8, 2025
MIL-OSI Canada: Parliamentary Secretary Oliphant to travel to the Republic of Moldova and Bosnia and Herzegovina

Source: Government of Canada News (2)

July 7, 2025 – Ottawa, Ontario – Global Affairs Canada

The Honourable Anita Anand, Minister of Foreign Affairs, today announced that the Honourable Robert Oliphant, Parliamentary Secretary to the Minister of Foreign Affairs, will visit the Republic of Moldova, as well as Bosnia and Herzegovina, from July 8 to 12, 2025.

In Chișinău, Moldova, Parliamentary Secretary Oliphant will meet with senior government officials and parliamentarians, as well as with representatives from international organizations, to explore ways for Canada and Moldova to further cooperate on security and stability in the Euro-Atlantic region.

Parliamentary Secretary Oliphant will then travel to Sarajevo, Bosnia and Herzegovina, where he will meet with senior officials to discuss ways for Canada to continue to support Bosnia and Herzegovina’s institutional reform efforts and Euro-Atlantic integration. He will also attend a commemorative event marking the 30th anniversary of the genocide in Srebrenica, Bosnia and Herzegovina, during which over 8,000 Bosniak men and boys were killed by Bosnian Serb forces.

MIL OSI Canada News –

July 8, 2025
MIL-OSI USA: Tiffany, Finstad Lead Letter Urging Canada to Mitigate Wildfire Risk

Source: United States House of Representatives – Representative Tom Tiffany (WI-07)

WASHINGTON, DC – Today, Reps. Tom Tiffany (WI-07), Brad Finstad (MN-01), Tom Emmer (MN-06), Michelle Fischbach (MN-07), Glenn Grothman (WI-06), and Pete Stauber (MN-08) sent a letter to Canada’s Ambassador urging stronger forest management practices to mitigate wildfire risk. The call for action comes after yet another wave of Canadian wildfire smoke affecting the Upper Midwest.

The lawmakers wrote, “As I’m sure you know, this is not the first year Canadian wildfire smoke has been an issue. In 2023, Canada had its worst year for wildfires on record, last year’s fire season was considered one of the worst, and this year seems to be a continuation of these previous years. While we know a key driver of this issue has been a lack of active forest management, we’ve also seen things like arson as another way multiple large wildfires have ignited in Canada. With all the technology that we have at our disposal, both in preventing and fighting wildfires, this worrisome trend can be reversed if proper action is taken.”

They added that hazardous air quality has disrupted daily life, “Our constituents have been limited in their ability to go outside and safely breathe due to the dangerous air quality the wildfire smoke has created. In our neck of the woods, summer months are the best time of the year to spend time outdoors recreating, enjoying time with family, and creating new memories, but this wildfire smoke makes it difficult to do all those things.”

The Members closed by urging the Ambassador to raise the issue with key Canadian agencies, including Natural Resources Canada and the Canadian Forest Service.

You can read the full letter here.

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MIL OSI USA News –

July 8, 2025
MIL-OSI Canada: Minister Sidhu meets with Alberta counterpart and industry leaders to discuss trade, innovation and investment

Source: Government of Canada News (2)

July 7, 2025 – Calgary, Alberta – Global Affairs Canada

The Honourable Maninder Sidhu, Minister of International Trade, spent 3 days in Calgary, Alberta, working with provincial leaders and business representatives to strengthen trade and investment opportunities for Canadian businesses.

On Thursday, July 3, Minister Sidhu met with Joseph Schow, Alberta’s Minister of Jobs, Economy, Trade and Immigration. They discussed how the federal and provincial governments can work together to advance trade diversification and promotion, including through Team Canada trade missions.

Minister Sidhu delivered remarks at the Canada-United Arab Emirates (UAE) Business Council board meeting, highlighting recent progress in the growing Canada-UAE trade relationship.

On Friday, July 4, the Minister toured local facilities that are at the forefront of using advanced technologies. At Carbon Upcycling Technologies, he saw world-leading carbon-capture and conversion technology in action. He then toured Carbonova, an innovative company that turns greenhouse gases into valuable products for a range of industries. The Minister also visited De Havilland Aircraft of Canada Limited’s leading manufacturing facility and saw first-hand their proud Canadian operations, including the production of aircraft headed to the EU and Colombia. He then led a round-table discussion with aerospace and defence industry leaders.

During the Calgary Stampede, Minister Sidhu met with members of Canadian Manufacturers & Exporters and the Canadian Chamber of Commerce to discuss key trade priorities, particularly those of interest to Western Canadian business leaders.

Throughout the trip, Minister Sidhu highlighted the advantages of Canada’s economic resilience and global trade relationships, as well as how the Trade Commissioner Service can help Canadian businesses explore international markets and opportunities.

MIL OSI Canada News –

July 8, 2025
MIL-OSI Analysis: Could new pipelines shield Canada from U.S. tariffs? The answer is complicated

Source: The Conversation – Canada – By Torsten Jaccard, Assistant Professor of Economics, University of British Columbia

It should come as no surprise that United States President Donald Trump’s tariff threats have renewed interest in building pipelines that don’t rely on access to the American market. Almost four million barrels of crude oil cross the Canada-U.S. border each day, generating revenue of more than $100 billion per year — a quarter of Alberta’s GDP.

A February survey by the Angus Reid Institute found that half of Canadians believe the federal government isn’t doing enough to expand pipeline capacity. Meanwhile, two-thirds said they would back reviving the Energy East project — a cancelled pipeline that would have transported oil from western Canada to New Brunswick and Québec.

But would new pipelines truly insulate Canada from the threat of U.S. tariffs? And how much new pipeline capacity is necessary? Despite the apparent urgency of approving new infrastructure projects, these questions remain surprisingly unexplored.

In a recent paper I co-authored with researcher Jotham Peters, which is currently under revision, we applied formal economic modelling techniques to parse through the costs and benefits of new pipelines, and in particular to understand the role of American tariffs in shaping these costs and benefits.

How tariffs could hit Canadian oil producers

In a worst-case scenario where the U.S. follows through on its threat of a 10 per cent tariff on Canadian oil exports, Canadian producers could lose as much as $14 billion in annual revenue — roughly a 10 per cent decrease.

Simply put, Canada’s existing pipeline network severely limits access to markets other than the U.S., and as a consequence oil producers bear the full brunt of American tariffs.

But what if Northern Gateway and Energy East — two previously cancelled pipelines that would have brought Canadian oil to tidewater — had been built?

If Northern Gateway and Energy East were operational in 2025, Canada would be more resilient, but not completely immune, to U.S. tariffs. Instead of a $14 billion loss, tariffs would reduce annual revenue by $9 billion.

Ultimately, the combined capacity of Northern Gateway and Energy East, which would be 1.625 million barrels per day, pales in comparison to the four million barrels per day of existing pipeline capacity connecting Canadian producers with American refineries.

Closing this gap would require an expansion of east-west pipeline capacity far beyond the cancelled pipelines of the last decade.

The economic case for pipelines

So have the recent shifts in U.S. trade policy fundamentally altered the economic case in favour of new east-west pipelines? As with most economic analyses, the answer is complicated.

On the one hand, any progress that mitigates the significant cost of U.S. tariffs are likely dollars well spent. Building new pipelines strengthens the bargaining power of Canadian producers, which carries an additional benefit of potentially increasing the return on each barrel sold to our southern neighbour.

There’s also a long-term capacity issue. Existing pipelines may reach their limit by 2035. In the absence of new pipelines, any new production after 2035 would either need to be transported by rail at a higher cost, or left in the ground.

On the other hand, if the U.S. never follows through on tariffs on energy exports — or if future administrations do not share Trump’s affinity for chaotic trade policy — Canada could end up right back where it started when these projects were cancelled.

All pipelines carry some economic benefit, but such benefits were not enough in 2016 and 2017 to warrant the construction of the Northern Gateway and Energy East pipelines.

Inflated construction costs threaten benefits

The elephant in the room is whether a significant expansion in pipeline capacity could realistically be achieved at reasonable cost. Recent evidence suggests it could be a challenge.

The Trans Mountain expansion project, for instance, was initially estimated to cost $5.4 billion in 2013. By the time it was completed in 2024, the final price tag had ballooned to $34 billion — a cost overrun of 380 per cent when accounting for inflation.

The Coastal GasLink pipeline, which transports natural gas, faced similar issues. It was initially projected to cost $4 billion in 2012 and was completed in 2023 at a final cost of $14.5 billion, with an inflation-adjusted overrun of 180 per cent.

While some of these costs were circumstantial — a major flood affected Trans Mountain, for example — increased efficiency in pipeline construction is necessary for the economic benefits of new pipelines to be realized, regardless of U.S. trade policy.

Beyond economics costs

While our research explores the economic impact of new pipelines in the face of U.S. tariffs, we acknowledge there are other issues that need to be considered.

Chief among them is ensuring Canada meets its constitutional obligation to consult First Nations on decisions, like natural resources projects, that affect their communities and territories. Although this lies beyond our area of expertise, it will inevitably be an important element of consideration for any new pipeline developments.

Read more:
The complicated history of building pipelines in Canada

The environmental impacts of new pipelines are another key concern. These impacts range from local exposure to oil spills to upstream greenhouse gas emissions associated with oil production. While these varying and complex impacts are also beyond the scope of our current work, future research should focus on quantifying the potential environmental impacts of new pipelines.

Our research cannot say whether any new pipeline project is good, bad or in Canada’s national interest. But we can help Canadians reach an informed decision about how changes in U.S. trade policy may or may not alter the economic case for new pipelines in this country.

While Canada would undoubtedly be in a stronger position to respond to U.S. tariffs were Northern Gateway and Energy East operational in 2025, it would still find itself significantly exposed to Trump’s tariff threats.

Fully removing this exposure would require not one but seven pipelines equivalent to Northern Gateway. Whether that’s a goal worth pursuing is a broader question — one we hope our research can help Canadians and policymakers reach on their own.

Torsten Jaccard receives funding from the Social Sciences and Humanities Research Council of Canada.

– ref. Could new pipelines shield Canada from U.S. tariffs? The answer is complicated – https://theconversation.com/could-new-pipelines-shield-canada-from-u-s-tariffs-the-answer-is-complicated-259660

MIL OSI Analysis –

July 8, 2025
MIL-OSI: Canoe EIT Income Fund Announces July 2025 Monthly Distribution

Source: GlobeNewswire (MIL-OSI)

CALGARY, Alberta, July 07, 2025 (GLOBE NEWSWIRE) — Canoe EIT Income Fund (the “Fund”) (TSX – EIT.UN) announces the July 2025 monthly distribution of $0.10 per unit. Unitholders of record on July 22, 2025, will receive distributions payable on August 15, 2025.

About Canoe EIT Income Fund
Canoe EIT Income Fund is one of Canada’s largest closed-end investment funds, designed to maximize monthly distributions and capital appreciation by investing in a broadly diversified portfolio of high quality securities. The Fund is listed on the TSX under the symbol EIT.UN, and is actively managed by Robert Taylor, Senior Vice President and Chief Investment Officer, Canoe Financial.

About Canoe Financial
Canoe Financial is one of Canada’s fastest growing independent mutual fund companies managing approximately $20.0 billion in assets across a diversified range of award-winning investment solutions. Founded in 2008, Canoe Financial is an employee-owned investment management firm focused on building financial wealth for Canadians. Canoe Financial has a significant presence across Canada, including offices in Calgary, Toronto and Montreal.

For further information, please contact:
Investor Relations
1–877–434–2796
www.canoefinancial.com
info@canoefinancial.com

Not for Distribution to U.S. Newswire Services or for Dissemination in the United States of America.

The Fund makes monthly distributions of an amount comprised in whole or in part of Return of Capital (ROC) of the net asset value per unit. A ROC reduces the amount of your original investment and may result in the return to you of the entire amount of your original investment. ROC that is not reinvested will reduce the net asset value of the fund, which could reduce the fund’s ability to generate future income. You should not draw any conclusions about the fund’s investment performance from the amount of this distribution.

Commissions, trailing commissions, management fees and expenses all may be associated with investment funds. Please read the information filed about the fund on www.sedar.com before investing. Investment funds are not guaranteed and past performance may not be repeated.

This communication is not to be construed as a public offering to sell, or a solicitation of an offer to buy securities. Such an offer can only be made by way of a prospectus or other applicable offering document and should be read carefully before making any investment. This release is for information purposes only. Investors should consult their Investment Advisor for details and risk factors regarding specific strategies and various investment products.

The MIL Network –

July 8, 2025
MIL-OSI: Canoe EIT Income Fund Announces July 2025 Monthly Distribution

Source: GlobeNewswire (MIL-OSI)

CALGARY, Alberta, July 07, 2025 (GLOBE NEWSWIRE) — Canoe EIT Income Fund (the “Fund”) (TSX – EIT.UN) announces the July 2025 monthly distribution of $0.10 per unit. Unitholders of record on July 22, 2025, will receive distributions payable on August 15, 2025.

About Canoe EIT Income Fund
Canoe EIT Income Fund is one of Canada’s largest closed-end investment funds, designed to maximize monthly distributions and capital appreciation by investing in a broadly diversified portfolio of high quality securities. The Fund is listed on the TSX under the symbol EIT.UN, and is actively managed by Robert Taylor, Senior Vice President and Chief Investment Officer, Canoe Financial.

About Canoe Financial
Canoe Financial is one of Canada’s fastest growing independent mutual fund companies managing approximately $20.0 billion in assets across a diversified range of award-winning investment solutions. Founded in 2008, Canoe Financial is an employee-owned investment management firm focused on building financial wealth for Canadians. Canoe Financial has a significant presence across Canada, including offices in Calgary, Toronto and Montreal.

For further information, please contact:
Investor Relations
1–877–434–2796
www.canoefinancial.com
info@canoefinancial.com

Not for Distribution to U.S. Newswire Services or for Dissemination in the United States of America.

The Fund makes monthly distributions of an amount comprised in whole or in part of Return of Capital (ROC) of the net asset value per unit. A ROC reduces the amount of your original investment and may result in the return to you of the entire amount of your original investment. ROC that is not reinvested will reduce the net asset value of the fund, which could reduce the fund’s ability to generate future income. You should not draw any conclusions about the fund’s investment performance from the amount of this distribution.

Commissions, trailing commissions, management fees and expenses all may be associated with investment funds. Please read the information filed about the fund on www.sedar.com before investing. Investment funds are not guaranteed and past performance may not be repeated.

This communication is not to be construed as a public offering to sell, or a solicitation of an offer to buy securities. Such an offer can only be made by way of a prospectus or other applicable offering document and should be read carefully before making any investment. This release is for information purposes only. Investors should consult their Investment Advisor for details and risk factors regarding specific strategies and various investment products.

The MIL Network –

July 8, 2025
MIL-OSI Canada: Province boosts tax credit for game developers

Source: Government of Canada regional news

Diana Gibson, Minister of Jobs, Economic Development and Innovation –

“B.C.’s digital sector and gaming industry ranges from massive corporations to small, dedicated teams. We are building an ecosystem where everyone can thrive and compete globally. With this increased tax credit, our groundbreaking Integrated Marketplace Initiative, and events like Web Summit Vancouver, we’re securing B.C.’s position as a global hub for innovation, talent and creative excellence in interactive entertainment.”

Spencer Chandra Herbert, Minister of Tourism, Arts, Culture and Sport –

“Our game developers have made many smash hits and beautiful works of art that are well-known in the industry and around the world. With this strengthened tax credit, more of your favourite games are about to be made in B.C., creating jobs and boosting our economy.”

Loc Dao, executive director, DigiBC –

“The permanent increase to the interactive digital media tax credit demonstrates the Province’s commitment to being a global leader in creative technology and a premier destination for interactive-digital-media investment and talent. This change will help accelerate the growth of the industry in B.C., enabling our companies to make long-term strategic decisions and attracts international studios looking for stable, supportive environments.”

Remy Siu, founder and creative director, Sunset Visitor –

“B.C. interactive digital media tax credit (IDMTC) was a crucial part of making 1000xRESIST a reality. It helped us reach the finish line when resources were scarce. We couldn’t be happier to see the increases to the credit going forward. It allows us to continue to find, support and highlight local B.C. talent.”

Heidy Motta, COO, Coldblood Inc. –

“The increase of the IDMTC to 25% makes a real difference for indie studios like ours. It helps us keep working on Neverway and focus on delivering the best experience we can to players. Support like this is a big reason why Canada has such a strong presence in the global game industry.”

Raphael van Lierop, founder and creative director, Hinterland –

“This makes a big difference for independent studios with significant development staff in B.C., like Hinterland, as we work on Blackfrost, the sequel to The Long Dark. I appreciate the leadership shown by Brenda Bailey, herself a former game developer, in continuing to push this program forward over the past several years. It’s had a huge impact and helps keep B.C. competitive in this globally significant industry that has such tremendous cultural relevance.”

MIL OSI Canada News –

July 8, 2025
MIL-Evening Report: Quitting the quit-aid: people trying to stop vaping nicotine need more support – here are some strategies to help

Source: The Conversation (Au and NZ) – By Joya Kemper, Associate Professor in Marketing, University of Canterbury

Getty Images

New Zealand is among a number of countries that encourage vaping (the use of e-cigarettes) as a tool to help people stop smoking tobacco. But what happens when people want to quit vaping?

Nicotine vapes can be addictive. While they have helped many New Zealanders quit smoking cigarettes, others – including people who never smoked – now find themselves wanting to quit vaping.

To better understand how and why people try to quit, we surveyed more than 1,000 people in Aotearoa New Zealand who have used nicotine vapes.

The findings from our study point to a need for support that treats vaping cessation like quitting smoking because for many, the challenges are similar.

We focused on New Zealanders aged 16 and over who had vaped nicotine. Of the 1,119 respondents, 401 currently vaped and 718 had quit vaping. Around one in eight had never smoked tobacco at all.

We found using vapes for more than two years and with nicotine concentrations above 3% was linked to higher dependence on vaping. Most current or past vapers wanted to stop, and more than three-quarters of participants had made up to three serious attempts to quit vaping.

How people try to stop vaping

Some people wanted to quit vaping because what began as a tool to support quitting smoking has become a new source of frustration or worry.

The most common reasons to stop vaping were concerns about current or future health, disliking the feeling of being dependent, and the cost of vaping products. These motivations echo the reasons many people cite for quitting smoking, suggesting that people who vape (like most people who smoke) do not want to remain hooked on nicotine, even if it helped them quit cigarettes.

Participants used a variety of strategies to quit, including abrupt cessation (“cold turkey”), switching to other forms of reduced-harm nicotine (such as nicotine patches, gums, lozenges, mouth sprays), and tapering down nicotine levels. Many also relied on support from whānau (family) and friends.

These strategies mirror those used in smoking cessation.

Our participants reiterate the importance of personal strategies, building on previous work on interventions that target vaping cessation.

Some people did quit vaping and had no problem quitting. However, others struggled. Triggers that cause a relapse to vaping are similar to those many people who smoke experience, including stress and symptoms of nicotine withdrawal.

Being around others who vape is also a trigger for relapse. These factors highlight the social and psychological effects of vaping, just as they have long been recognised in tobacco addiction research.

Importantly, these triggers appeared consistent across different groups regardless of age, gender, cultural background or smoking history. Whether someone vaped to stop smoking or whether vaping was the first nicotine product they tried, quitting came with similar challenges.

Better support for vaping cessation

Our study suggests many New Zealanders are now trying to quit nicotine vapes, and some face real barriers to doing so.

We think existing smoking-cessation support and medications could play a useful role. These tools include behavioural support, such as building self-belief in the ability to quit, identifying key triggers (and strategies to avoid them), stress management strategies, and access to tapering schedules (cutting down the frequency of vaping over time or gradually reducing nicotine concentration).

As previous work shows, the type of support needed may differ between older tobacco smokers and the growing population of teens taking up vaping.

Vaping as an exit from tobacco smoking should still be offered to people who smoke. Once vaping is taken up, it should be promoted as a medium-term, step-down tactic (3–12 months), while ensuring that relapse to smoking is avoided. Such a strategy aligns with vaping-cessation guidance provided in the United Kingdom, Canada and New Zealand.

But it’s clear the landscape has shifted. Vaping is no longer just used to quit smoking; vapes are used by people who have never smoked.

For some, vaping becomes a habit they want to quit in its own right, but it may not always be easy given the addictive nature of nicotine. We need dedicated support for vaping cessation to address this growing concern.

Findings from our survey have been key to the development of a New Zealand vaping-cessation clinical trial currently underway. People who are interested in quitting vaping can find out more and register their interest.

This study was supported by a grant from the University of Auckland, Faculty of Medical and Health Sciences Research and Development Fund.

Amanda Palmer has received funding from the US National Institutes of Health and Hollings Cancer Center at the Medical University of South Carolina.

Bodo Lang has received funding from the Health Research Council of NZ.

Chris Bullen receives funding from the Health Research Council of NZ, Ministry of Health and US NIH for research projects on smoking and vaping and personal funding from Kenvue Asia for cochairing ASEAN smoking-cessation leadership meetings. He co-chairs the smokefree expert advisory group for Health Coalition Aotearoa.

George Laking has received funding from the Health Research Council of NZ.

Jamie Brown has received (most recently in 2018) unrestricted funding to study smoking cessation from Pfizer and J&J, which manufacture medically licensed smoking cessation medications.

Lion Shahab received personal fees from a grant funded by the US National Cancer Institute as part of his role as a member of an external scientific advisory committee outside of the submitted work. He also acted as a paid reviewer for grant awarding bodies and as a paid consultant for health-care companies and, in the past, has received honoraria for talks, an unrestricted research grant, and travel expenses to attend meetings and workshops by producers of smoking cessation medication (Pfizer/Johnson&Johnson).

Natalie Walker has received personal fees from a grant funded by the US National Cancer Institute as part of her role as a member of the external scientific advisory committee. She is involved in a grant (in-kind) supported by the National Health and Medical Research Council of Australia. She also received grants from the Health Research Council of NZ and funds from the US National Institute for Health and the Food and Drug Administration tobacco regulatory science grant. She has acted as a paid reviewer for grant awarding bodies. She has no financial links with tobacco companies, e-cigarette manufacturers, or their representatives.

Vili Nosa has received funding from the Health Research Council of NZ.

– ref. Quitting the quit-aid: people trying to stop vaping nicotine need more support – here are some strategies to help – https://theconversation.com/quitting-the-quit-aid-people-trying-to-stop-vaping-nicotine-need-more-support-here-are-some-strategies-to-help-259899

MIL OSI Analysis – EveningReport.nz –

July 8, 2025
MIL-OSI Canada: HMC Ships Edmonton and Yellowknife Depart for NATO Mine Countermeasures Mission in Europe

Source: Government of Canada News (2)

July 7, 2025 – Ottawa, Ontario – National Defence / Canadian Armed Forces

Today, His Majesty’s Canadian Ships (HMCS) Edmonton and Yellowknife departed Halifax to begin their deployment on Operation REASSURANCE, where they will join Standing NATO Mine Countermeasures Group One (SNMCMG1). From July to October 2025, the ships will operate in European waters, advancing NATO’s maritime security and mine countermeasure operations.

This deployment demonstrates Canada’s unwavering commitment to NATO and to the security of the Euro-Atlantic region. As Kingston-class Maritime Coastal Defence Vessels, HMCS Edmonton and Yellowknife are equipped with advanced mine countermeasure capabilities, including REMUS 100 Autonomous Underwater Vehicles and Royal Canadian Navy clearance diving teams. Their mission will focus on detecting and neutralizing historic sea mines, ensuring safe navigation, and protecting critical undersea infrastructure.

Canada’s leadership within SNMCMG1 is a key element of our contribution to NATO’s collective deterrence and defence posture. The professionalism, capability, and operational readiness of Royal Canadian Navy personnel aboard HMCS Edmonton and Yellowknife reinforce Canada’s role as a reliable Ally and security partner.

MIL OSI Canada News –

July 8, 2025
MIL-OSI Canada: Saskatchewan Commits $20 Million to Initiate the Rebuilding Process for Communities Devastated by Wildfire
Source: Government of Canada regional news

Released on July 7, 2025

Today, the Government of Saskatchewan announced a commitment of $20 million to support communities and individuals affected by this year’s devastating wildfires. Through the Saskatchewan Public Safety Agency (SPSA), a dedicated Recovery Task Team (RTT) has been established to lead the province’s wildfire recovery efforts.

The RTT – which is led by the SPSA and comprised of representatives from the Ministries of Government Relations, Social Services, and Environment, and Crown Corporations – has conducted a preliminary needs assessment alongside communities that were devastated by wildfire, including Denare Beach, East Trout Lake and others. That assessment identified debris removal and site clean-up as the top priorities. This work will help communities initiate the recovery process.

“We know that the road to recovery begins with clearing the way to prepare for rebuilding,” Corrections, Policing and Public Safety Minister Tim McLeod, K.C., said. “This funding is about safely rebuilding lives and supporting our communities every step of the way. I would like to thank the community leaders and the Recovery Task Team who have put in countless hours the last few weeks to start the recovery process together.”

The Government of Saskatchewan has identified three priority areas for recovery support, with an estimated total cost of $20 million expected to be used as follows:
- Debris removal and environmental testing;
- Create, expand, or maintain landfills near impacted communities; and
- Project management support to assist local recovery efforts.
The majority of this funding will be delivered through the Provincial Disaster Assistance Program (PDAP). Where PDAP support does not fully cover community needs, additional assistance will be provided.

The funding is available to communities and individuals who sustained losses during the provincial emergency declaration period (May 29 to June 26, 2025), or who were under a local state of emergency at the time of their loss.

The funding announced today is not intended to cover environmental testing or clean-up already provided by personal or business insurance. Individuals and businesses should contact their insurance provider if they haven’t already done so.

-30-

For more information, contact:

MIL OSI Canada News –
July 8, 2025
MIL-OSI Canada: New affordable homes open in Qualicum Beach

Source: Government of Canada regional news

People living in Qualicum Beach with low to moderate incomes have access to 56 new affordable homes with the opening of the Residences at Qualicum Station.

“With costs rising, it’s more important than ever that people have an affordable, stable place to call home,” said Ravi Kahlon, B.C.’s Minister of Housing and Municipal Affairs. “More new rentals are being built than ever, helping families, seniors and individuals build and strengthen ties to the community they love. We’ll keep working with all levels of government to get homes built that fit people’s needs and budgets.”

Located at 136 Village Way W., the new building features an apartment building with studio, one-, two- and three-bedroom units, as well as seven three-bedroom town homes, each with their own fenced yard. Rents vary based on income and unit size, starting at $445 for a studio. Rents are subsidized for 70% of the units in the building so that rent is set at 30% of gross monthly income. The remainder of the units are at market rent for people with moderate incomes, ranging from $1,100 for a studio, to $2,200 for a three-bedroom unit.

The homes were built with a budget of approximately $22 million. They were delivered by the Province, through BC Housing, using the Community Housing Fund in partnership with the Government of Canada, through Canada Mortgage Housing Corporation (CMHC). The Town of Qualicum Beach, along with the Qualicum-Parksville Kiwanis Housing Society and the Federation of Canadian Municipalities also supported the development.

“The federal government is pleased to have contributed more than $12 million through the Affordable Housing Fund to this important project,” said Stephanie McLean, Canada’s Secretary of State (Seniors) and MP for Esquimalt-Saanich-Sooke. “With this investment, more residents in Qualicum Beach will have access to affordable, sustainable homes where they can put down roots and build a future. This project demonstrates how partnerships between all levels of government and non-profit organizations are helping to address the housing challenge for Canadians.”

The building is owned by the Qualicum-Parksville Kiwanis Housing Society and was designed to support people struggling to find affordable housing in the community, including seniors, families and people with disabilities. The building opened in May 2025 and is accepting rental applications.

“The Town of Qualicum Beach is proud to contribute to the development of the Residences at Qualicum Station, a key advancement in affordable housing in our community,” said Teunis Westbroek, mayor of Qualicum Beach. “This development ensures our residents have access to safe and affordable homes, creating a stronger, more inclusive community.”

This project is part of a $19-billion housing investment by the B.C. government. Since 2017, the Province has more than 93,250 homes delivered or underway, including 280 new homes in Oceanside.

Quotes:

Dana Lajeunesse, B.C.’s parliamentary secretary for accessibility —

“Seniors, families and people with disabilities in Qualicum Beach should have access to safe, affordable housing where they feel welcomed and supported. This project shows how all levels of government can work collaboratively with the non-profit housing sector to build inclusive communities and make our province stronger and more accessible to everyone.”

Stephanie Higginson, MLA for Ladysmith-Oceanside —

“At a time of economic uncertainty, with costs rising, it’s more important than ever that people have an affordable place to rent. With these 56 new rentals in Qualicum Beach, the people who make our community such a vibrant place to live and work will have a home to call their own.”

Scott Rodway, chair, Qualicum-Parksville Kiwanis Housing Society Board —

“The Qualicum-Parksville Kiwanis Housing Society is pleased to be the developer and operator of the Residences at Qualicum Station. We thank the town, the Province (BC Housing) and the Government of Canada (CMHC) for their support and assistance in completing this much-needed addition to the housing options required to meet the needs of our town’s residents.

Learn More:

To learn more about how rents are set for developments supported through the Community Housing Fund Program, visit: https://www.bchousing.org/projects-partners/Building-BC/CHF

To learn more about the B.C. government’s new Homes for People action plan, visit: https://news.gov.bc.ca/releases/2023HOUS0019-000436

To learn about the steps the Province is taking to tackle the housing crisis and deliver affordable homes for people in British Columbia, visit: https://strongerbc.gov.bc.ca/housing/

A map showing the location of all announced provincially funded housing projects in B.C. is available here: https://www.bchousing.org/projects-partners/Building-BC/homes-for-BC

To learn how BC Housing is helping to build strong, inclusive housing communities, visit: https://www.bchousing.org/podcast

For the most-requested Government of Canada housing information, visit: https://www.canada.ca/en/services/finance/manage/housing.html

Progress on programs and initiatives is updated quarterly here: https://housing-infrastructure.canada.ca/housing-logement/ptch-csd/index-eng.html

To learn more about the Housing and Infrastructure Project Map, which shows the affordable housing projects developed so far, visit: https://housing-infrastructure.canada.ca/gmap-gcarte/index-eng.html

A backgrounder follows.

MIL OSI Canada News –

July 8, 2025
MIL-OSI Canada: Province Moving Forward on Improving Regina Hospital Physician Culture
Source: Government of Canada regional news

Released on July 7, 2025

The Ministry of Health, in collaboration with the Saskatchewan Health Authority (SHA) and Saskatchewan Medical Association (SMA), is taking action to improve workplace culture and environment for the Regina hospital physician community.

The Ministry has received an independent external review commissioned to look into challenges in the work environment in Regina hospitals. The review was conducted by two highly respected medical leaders from Ontario and Nova Scotia and includes a number of recommendations for the Ministry, the SHA, the SMA and the University of Saskatchewan’s College of Medicine to improve the working environment for physicians.

“I want to thank the reviewers for their report and look forward to working in collaboration with our health system partners to implement those recommendations,” Health Minister Jeremy Cockrill said. “We have a shared goal of creating and maintaining a positive, safe and healthy work environment for all employees and physicians and I am confident both short and long-term actions will provide improvements that benefit both physicians and patients.”

The SHA and SMA will be working in collaboration to address the review’s 14 recommendations, including holding engagement sessions with Regina hospital physicians on finalizing an action plan to address recommendations on near-term and longer-term priorities.

Separately, the SHA has taken a number of immediate actions to address some of the recommendations including:
- restructuring the SHA’s Senior Physician Leadership structure, as announced on June 12, 2025;
- working collaboratively with the SMA to finalize practitioner staff bylaws; and
- launching the SHA anti-racism strategy.
“The Saskatchewan Health Authority cares deeply about the workplace experience for all practitioners and employees,” SHA CEO Andrew Will said. “We are fully committed to collaborating with the Saskatchewan Medical Association, Regina hospital physicians and other health system partners to develop an action plan to implement the report’s recommendations.”

“The Saskatchewan Medical Association is committed to collaborating with system leaders to build a better future for physicians in Regina and across the province,” SMA president Dr. Pamela Arnold said. “This review provides an opportunity to reset and build stronger relationships throughout the health system in Regina. It will be critical to involve and engage physicians early and often to help build the trust necessary to do this very important work.”

Longer-term implementation of actions to address recommendations will take place over the next six to 12 months. The external review of Regina hospital physician culture is available at Saskatchewan.ca.

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For more information, contact:

MIL OSI Canada News –
July 8, 2025
MIL-OSI Canada: Breaking ground on CFB Trenton’s new Strategic Tanker Transport Capability

Source: Government of Canada News (2)

July 7, 2025 – Trenton, ON – National Defence / Canadian Armed Forces

Today, the Honourable David McGuinty, Minister of National Defence, participated in a groundbreaking ceremony at Canadian Forces Base (CFB) Trenton to mark the start of construction on a major infrastructure project that will support the Strategic Tanker Transport Capability (STTC) project.

Through an investment of $850 million, the Department of National Defence (DND) is moving forward with significant upgrades and additional infrastructure for the Main Operating Base (MOB) – East at CFB Trenton. These critical infrastructure upgrades will support the arrival and long-term operation of up to seven CC-330 Husky aircraft at CFB Trenton, while a second MOB under development in Edmonton will be able to support up to three and the creation of up to 1,000 jobs in the Trenton and Belleville area.

This first phase of construction, expected to continue into 2026, includes resurfacing the existing runway, aprons and taxiways. Preparations are also underway for the construction of a new two-bay hangar, training facility, fuel depot, and ramp extension. All required construction for the project, including fuelling and defuelling infrastructure, training facilities, and cargo and passenger processing infrastructure is anticipated to be completed by 2033.

MIL OSI Canada News –

July 8, 2025
MIL-OSI USA: Stantec Inc. Agrees to Pay $4M to Resolve Allegations That It Violated the False Claims Act by Submitting False Certifications to the EPA in Grant Applications

Source: US State of California

Stantec Inc. (Stantec) a provider of environmental development and engineering services, with its primary headquarters in Alberta, Canada, along with Cardno Consulting LLC (Cardno), a separate company that Stantec acquired in 2021, have agreed to pay $4 million to resolve allegations that they violated the False Claims Act by submitting or causing the submission of applications to the Environmental Protection Agency (EPA) for Brownfields Assessment Grants that falsely certified compliance with federal procurement regulations.

“Applicants for federal grant funds must comply with applicable procurement requirements” said Assistant Attorney General Brett A. Shumate, head of the Justice Department’s Civil Division. “The department will hold accountable those who undermine the integrity of the federal grant process by falsely certifying compliance with regulations that are designed to prevent unfair competitive advantage.”

“The EPA’s Brownfields Grant Program aims to help communities around the country transform contaminated sites into community assets,” said Acting EPA Inspector General Nicole Murley. “Fair competition is critical to the integrity of this program, and the EPA Office of Inspector General will vigorously pursue allegations of false certifications to protect both the program and the taxpayer dollars that fund it.”

The EPA Brownfields Grant Program provides grants and technical assistance to cities, towns, and other municipalities to assess, safely clean up, and sustainably reuse contaminated properties. The settlement relates to Assessment Grants the EPA awarded from 2014 to 2022. Applicants for EPA Brownfields grants must certify compliance with a requirement that “contractors that develop or draft specifications, requirements, statements of work, or invitations for bids must be excluded from competing on those procurements.”

The United States alleged that, from 2014-2022, Stantec, through its subsidiary Stantec Consulting Services Inc., and Cardno drafted or assisted in the drafting of the requests for proposals and statements of work associated with applications for EPA Brownfields Assessment Grants, and then competed for and won the work for which they had drafted the specifications. The United States alleged that this conduct violated the above requirement and that Stantec and Cardno falsely certified, or caused the communities applying for the grants to certify, that they had complied with it.

The resolution obtained in this matter was the result of a coordinated effort between the Justice Department’s Civil Division, Commercial Litigation Branch, Fraud Section, and the EPA’s Office of Inspector General.

The matter was investigated by Trial Attorney Robin Overby of the Civil Division’s Commercial Litigation Branch (Fraud Section) and Special Agent Brian Scriver of the EPA’s Office of Inspector General.

The claims resolved by the settlement are allegations only and there has been no determination of liability.

MIL OSI USA News –

July 8, 2025
MIL-OSI USA: Stantec Inc. Agrees to Pay $4M to Resolve Allegations That It Violated the False Claims Act by Submitting False Certifications to the EPA in Grant Applications

Source: US State of California

Stantec Inc. (Stantec) a provider of environmental development and engineering services, with its primary headquarters in Alberta, Canada, along with Cardno Consulting LLC (Cardno), a separate company that Stantec acquired in 2021, have agreed to pay $4 million to resolve allegations that they violated the False Claims Act by submitting or causing the submission of applications to the Environmental Protection Agency (EPA) for Brownfields Assessment Grants that falsely certified compliance with federal procurement regulations.

“Applicants for federal grant funds must comply with applicable procurement requirements” said Assistant Attorney General Brett A. Shumate, head of the Justice Department’s Civil Division. “The department will hold accountable those who undermine the integrity of the federal grant process by falsely certifying compliance with regulations that are designed to prevent unfair competitive advantage.”

“The EPA’s Brownfields Grant Program aims to help communities around the country transform contaminated sites into community assets,” said Acting EPA Inspector General Nicole Murley. “Fair competition is critical to the integrity of this program, and the EPA Office of Inspector General will vigorously pursue allegations of false certifications to protect both the program and the taxpayer dollars that fund it.”

The EPA Brownfields Grant Program provides grants and technical assistance to cities, towns, and other municipalities to assess, safely clean up, and sustainably reuse contaminated properties. The settlement relates to Assessment Grants the EPA awarded from 2014 to 2022. Applicants for EPA Brownfields grants must certify compliance with a requirement that “contractors that develop or draft specifications, requirements, statements of work, or invitations for bids must be excluded from competing on those procurements.”

The United States alleged that, from 2014-2022, Stantec, through its subsidiary Stantec Consulting Services Inc., and Cardno drafted or assisted in the drafting of the requests for proposals and statements of work associated with applications for EPA Brownfields Assessment Grants, and then competed for and won the work for which they had drafted the specifications. The United States alleged that this conduct violated the above requirement and that Stantec and Cardno falsely certified, or caused the communities applying for the grants to certify, that they had complied with it.

The resolution obtained in this matter was the result of a coordinated effort between the Justice Department’s Civil Division, Commercial Litigation Branch, Fraud Section, and the EPA’s Office of Inspector General.

The matter was investigated by Trial Attorney Robin Overby of the Civil Division’s Commercial Litigation Branch (Fraud Section) and Special Agent Brian Scriver of the EPA’s Office of Inspector General.

The claims resolved by the settlement are allegations only and there has been no determination of liability.

MIL OSI USA News –

July 8, 2025
MIL-OSI Security: Stantec Inc. Agrees to Pay $4M to Resolve Allegations That It Violated the False Claims Act by Submitting False Certifications to the EPA in Grant Applications

Source: United States Attorneys General

Stantec Inc. (Stantec) a provider of environmental development and engineering services, with its primary headquarters in Alberta, Canada, along with Cardno Consulting LLC (Cardno), a separate company that Stantec acquired in 2021, have agreed to pay $4 million to resolve allegations that they violated the False Claims Act by submitting or causing the submission of applications to the Environmental Protection Agency (EPA) for Brownfields Assessment Grants that falsely certified compliance with federal procurement regulations.

“Applicants for federal grant funds must comply with applicable procurement requirements” said Assistant Attorney General Brett A. Shumate, head of the Justice Department’s Civil Division. “The department will hold accountable those who undermine the integrity of the federal grant process by falsely certifying compliance with regulations that are designed to prevent unfair competitive advantage.”

“The EPA’s Brownfields Grant Program aims to help communities around the country transform contaminated sites into community assets,” said Acting EPA Inspector General Nicole Murley. “Fair competition is critical to the integrity of this program, and the EPA Office of Inspector General will vigorously pursue allegations of false certifications to protect both the program and the taxpayer dollars that fund it.”

The EPA Brownfields Grant Program provides grants and technical assistance to cities, towns, and other municipalities to assess, safely clean up, and sustainably reuse contaminated properties. The settlement relates to Assessment Grants the EPA awarded from 2014 to 2022. Applicants for EPA Brownfields grants must certify compliance with a requirement that “contractors that develop or draft specifications, requirements, statements of work, or invitations for bids must be excluded from competing on those procurements.”

The United States alleged that, from 2014-2022, Stantec, through its subsidiary Stantec Consulting Services Inc., and Cardno drafted or assisted in the drafting of the requests for proposals and statements of work associated with applications for EPA Brownfields Assessment Grants, and then competed for and won the work for which they had drafted the specifications. The United States alleged that this conduct violated the above requirement and that Stantec and Cardno falsely certified, or caused the communities applying for the grants to certify, that they had complied with it.

The resolution obtained in this matter was the result of a coordinated effort between the Justice Department’s Civil Division, Commercial Litigation Branch, Fraud Section, and the EPA’s Office of Inspector General.

The matter was investigated by Trial Attorney Robin Overby of the Civil Division’s Commercial Litigation Branch (Fraud Section) and Special Agent Brian Scriver of the EPA’s Office of Inspector General.

The claims resolved by the settlement are allegations only and there has been no determination of liability.

MIL Security OSI –

July 8, 2025
MIL-OSI Security: Stantec Inc. Agrees to Pay $4M to Resolve Allegations That It Violated the False Claims Act by Submitting False Certifications to the EPA in Grant Applications

Source: United States Attorneys General

Stantec Inc. (Stantec) a provider of environmental development and engineering services, with its primary headquarters in Alberta, Canada, along with Cardno Consulting LLC (Cardno), a separate company that Stantec acquired in 2021, have agreed to pay $4 million to resolve allegations that they violated the False Claims Act by submitting or causing the submission of applications to the Environmental Protection Agency (EPA) for Brownfields Assessment Grants that falsely certified compliance with federal procurement regulations.

“Applicants for federal grant funds must comply with applicable procurement requirements” said Assistant Attorney General Brett A. Shumate, head of the Justice Department’s Civil Division. “The department will hold accountable those who undermine the integrity of the federal grant process by falsely certifying compliance with regulations that are designed to prevent unfair competitive advantage.”

“The EPA’s Brownfields Grant Program aims to help communities around the country transform contaminated sites into community assets,” said Acting EPA Inspector General Nicole Murley. “Fair competition is critical to the integrity of this program, and the EPA Office of Inspector General will vigorously pursue allegations of false certifications to protect both the program and the taxpayer dollars that fund it.”

The EPA Brownfields Grant Program provides grants and technical assistance to cities, towns, and other municipalities to assess, safely clean up, and sustainably reuse contaminated properties. The settlement relates to Assessment Grants the EPA awarded from 2014 to 2022. Applicants for EPA Brownfields grants must certify compliance with a requirement that “contractors that develop or draft specifications, requirements, statements of work, or invitations for bids must be excluded from competing on those procurements.”

The United States alleged that, from 2014-2022, Stantec, through its subsidiary Stantec Consulting Services Inc., and Cardno drafted or assisted in the drafting of the requests for proposals and statements of work associated with applications for EPA Brownfields Assessment Grants, and then competed for and won the work for which they had drafted the specifications. The United States alleged that this conduct violated the above requirement and that Stantec and Cardno falsely certified, or caused the communities applying for the grants to certify, that they had complied with it.

The resolution obtained in this matter was the result of a coordinated effort between the Justice Department’s Civil Division, Commercial Litigation Branch, Fraud Section, and the EPA’s Office of Inspector General.

The matter was investigated by Trial Attorney Robin Overby of the Civil Division’s Commercial Litigation Branch (Fraud Section) and Special Agent Brian Scriver of the EPA’s Office of Inspector General.

The claims resolved by the settlement are allegations only and there has been no determination of liability.

MIL Security OSI –

July 8, 2025
MIL-OSI USA: T&I Leaders Introduce Coast Guard Authorization Act of 2025

Source: United States House of Representatives – Congressman Mike Ezell (Mississippi 4th District)

Last week, Coast Guard and Maritime Transportation Subcommittee Chairman Mike Ezell (R-MS), Transportation and Infrastructure Committee Chairman Sam Graves (R-MO), Transportation and Infrastructure Committee Ranking Member Rick Larsen (D-WA), and Coast Guard and Maritime Transportation Subcommittee Ranking Member Salud Carbajal (D-CA) introduced bipartisan legislation to strengthen, support, and authorize funding through 2029 for the United States Coast Guard and its critical missions to safeguard the nation’s borders, facilitate maritime commerce, ensure maritime safety, and more.

“The Coast Guard Authorization Act of 2025 marks a critical step forward in bolstering our national security, modernizing maritime infrastructure, and supporting the dedicated men and women of the United States Coast Guard. I commend Chairman Graves for his vision in shaping this important legislation. Our bipartisan bill equips our service members with the tools, training, and advanced technologies needed to counter emerging threats, secure our borders, and promote safe, efficient maritime commerce. As Chairman of the Subcommittee, I’m proud of the collaborative effort that brought this bill to life and of our shared commitment to ensuring the Coast Guard remains mission-ready. This legislation builds on the Administration’s Force Design 2028 strategy, laying the foundation for a stronger, more agile maritime force,”said Subcommittee Chairman Ezell.

“The Coast Guard is one of our nation’s six armed services, and Congress must provide these brave men and women the support they need to carry out their many missions. That’s exactly what this bill does,” said T&I Committee Chairman Graves. “From protecting our maritime borders, to stemming the tide of illegal migrants and drugs into the country, to ensuring the safety of mariners and much more, this bill supports the important security, safety, and economically critical work of the Coast Guard.”

“The women and men who keep our seas and coastlines safe from my home state of Washington to the Coast Guard Academy in Connecticut deserve our full support, and that’s what this bipartisan bill delivers,” said T&I Committee Ranking Member Larsen. “From preventing oil spills on the U.S.-Canada border near the Puget Sound to ensuring the Coast Guard is prepared for tsunamis to cracking down on the scourge of sexual assault and harassment in the service, this bill will improve the quality of life for Coasties, increase maritime safety and strengthen our national security. I look forward to its swift passage.”

“Every single day, the Coast Guard goes to work to protect seafarers and beachgoers, and reinforce our national defense,” said Subcommittee Ranking Member Carbajal. “This bipartisan bill delivers critical resources for the Coast Guard to carry out its missions, modernize infrastructure and safety systems, and enhance quality of life for our Coasties. Just as importantly, it renews our shared commitment to holding the service accountable for meaningful reforms to root out sexual assault and harassment from its ranks.”

The Coast Guard Authorization Act of 2025 authorizes appropriations for the Service through fiscal year 2029. These authorizations will support Coast Guard operations and the continued recapitalization of its historically underfunded cutter fleet, aviation assets, shoreside facilities, and IT capabilities. The bill modernizes the Coast Guard’s acquisition process, increases transparency and accountability in the Service’s recapitalization efforts, and opens a pathway to the adoption of next-generation autonomous technologies.

The bill, with a provision led by Ezell, also creates greater parity with the other armed services, including the establishment of a Secretary of the Coast Guard and stronger protections for members of the Coast Guard from sexual assault and harassment, based on legislation the T&I Committee introduced last Congress following the Service’s Operation Fouled Anchor.

Furthermore, the legislation strengthens U.S.-Build requirements and improves accountability to better ensure a healthy, robust U.S. shipbuilding industry, while also making changes to maritime safety laws, amending requirements for merchant mariner credentials to facilitate an increase in the pool of qualified U.S. merchant mariners, increasing vessel safety, and improving regulatory processes.

Click here to read the full bill text.

MIL OSI USA News –

July 8, 2025
MIL-OSI Canada: The Government of Canada invests $1.35 million in Calgary’s National accessArts Centre

Source: Government of Canada News (2)

CALGARY, July 7, 2025

Inclusive, accessible spaces and training opportunities are vital to ensuring Canadians of all abilities can express themselves creatively and participate fully in Canada’s cultural sector.

Today, David Myles, Parliamentary Secretary to the Minister of Canadian Identity and Culture and Minister responsible for Official Languages and to the Secretary of State (Nature), announced an investment of $1.35 million in the National accessArts Centre (NaAC), following a tour of the facility. He made this announcement on behalf of the Honourable Steven Guilbeault, Minister of Canadian Identity and Culture and Minister responsible for Official Languages.

The NaAC will receive $750,000 through the Canada Cultural Spaces Fund for renovations at the former Scouts Canada building in Calgary, known as the West Hillhurst building—an 8,600-square-foot heritage-designated facility that, alongside a new purpose-built multidisciplinary disability arts hub, will form the NaAC’s new arts learning campus. Renovations will support specialized equipment storage, studio partitions, upgraded lighting and fully accessible visual arts spaces. Once complete, the West Hillhurst building will significantly enhance accessibility, increase programming capacity and allow the NaAC to support more artists while expanding public engagement through community art classes and school programs.

The NaAC will also benefit from $600,000 over three years (2025–2028) under the Canada Arts Training Fund. This investment supports the ongoing operations of the NaAC’s Professional Track Programs. These artist development pathways offer best-in-class specialized training in visual arts, dance, music and performance, and provide residencies, mentorships, performances and leadership development. Tailored to each individual artist, this intensive programming will support more than 20 emerging and established artists with disabilities as they advance their artistic practice across multiple disciplines.

This funding is part of a broader investment by the Government of Canada in Alberta’s arts and culture sector. In total, 10 additional projects across the province are receiving or will receive support, with $1.94 million provided through the Canada Cultural Spaces Fund and $2.67 million through the Canada Arts Training Fund (please see attached backgrounder).

MIL OSI Canada News –

July 8, 2025
MIL-OSI Canada: Backgrounder – Arts and Culture Projects in Alberta Receiving Support through the Canada Cultural Spaces Fund and the Canada Arts Training Fund

Source: Government of Canada News

CALGARY, July 7, 2025

In addition to the investments announced today by David Myles, Parliamentary Secretary to the Minister of Canadian Identity and Culture and Minister responsible for Official Languages and to the Secretary of State (Nature), in support of the National accessArts Centre, the following organizations have also received funding for their projects.

MIL OSI Canada News –

July 8, 2025
MIL-OSI Canada: Change of Command of the Royal Canadian Air Force

Source: Government of Canada News

July 7, 2025 – Ottawa – National Defence / Canadian Armed Forces

Members of the media are invited to attend a ceremony marking the Change of Command of the Royal Canadian Air Force (RCAF) where authority will be transferred from Lieutenant-General (LGen) Eric Kenny to LGen Jamie Speiser-Blanchet. General Jennie Carignan, Chief of the Defence Staff, will preside over the ceremony.

The Honourable David McGuinty, Minister of National Defence will also be in attendance.

Media attending the ceremony will be offered, upon prior request, a media availability with LGen Speiser-Blanchet, incoming RCAF Commander, following the ceremony.

When: Thursday, July 10, 2025, at 10:30 a.m. EDT

Where: Canada Aviation and Space Museum, 11 Aviation Parkway, Ottawa

Notes to editor / news director: 

For more information, to confirm attendance and request an interview with LGen Speiser-Blanchet please contact Captain Yvette Mills, RCAF Public Affairs Officer, at yvette.mills@forces.gc.ca.

Media interested in covering this event are asked to arrive no later than 10:15 a.m. (EDT). For those wishing to attend virtually, the ceremony will be livestreamed via the RCAF Facebook page. The livestream will be for viewing only and no interviews will be provided via the stream.

MIL OSI Canada News –

July 8, 2025
MIL-OSI Analysis: Overuse of riprap to prevent riverbank erosion is harming B.C. rivers

Source: The Conversation – Canada – By Charlotte Milne, PhD Candidate, Institute for Resources, Environment and Sustainability, University of British Columbia

Every spring, melting snow and heavy rainfall brings a higher risk of flooding and riverbank erosion to parts of Canada. Bank erosion is responsible for a significant portion of annual flood damage in Canada, with estimates suggesting the costs could grow as high as $13.6 billion anually by the end of the century.

In British Columbia, erosion is primarily managed by “hardening” riverbanks with large rocks called riprap. These rocks are so prevalent along B.C. rivers that you might think they are part of the natural environment, but they are not.

Hardened riverbanks offer temporary protection from river movement, but riprap can lead to degraded rivers. Erosion is a natural process that helps maintain healthy and diverse river habitat. However, as societies expand, there is more demand to control river movement and prevent erosion.

Through my work as a river scientist and flood risk researcher in New Zealand and Canada, I have witnessed the sometimes devastating impacts of river erosion and have also seen just how lifeless rivers can become when overly restricted.

Of course we need to protect people, property and infrastructure from riverbank erosion. But current erosion management is hurting B.C. rivers.

The problem with riprap

Riprap is essential for stabilizing riverbanks when infrastructure and property are at immediate risk. The rocks are often laid down as “temporary” erosion prevention before or during floods.

The problem is, if you harden one area with riprap, that bank transfers the erosion-hungry current elsewhere, driving the need for further riprap to be installed.

The exact impact that riprap is having on B.C. waterways requires more research, but professionals working in the province’s rivers are already seeing the damage.

During a workshop I led with colleagues from Resilient Waters and Watershed Watch, we found that in a group of 83 river and flood management professionals, 53 had witnessed adverse impacts from riprap use in the province’s Lower Mainland region.

It is now estimated that more than half of the gravel sections of the Fraser River have been hardened through riprap. To date, there has been limited consideration of the environmental consequences of such widespread bank hardening.

Riprap can bury the shallow spawning habitats preferred by many fish. It can prevent the “undercutting” of banks, a process that creates important spaces that salmon species prefer for shelter.

In addition, riprap causes water temperatures to rise as rocks trap heat from sunlight that would normally be shaded by riparian vegetation. That lack of vegetation also means less wood and debris in the rivers, which would normally add essential habitat complexity that is preferred by many fish species.

Riprap also acts as a potential migration barrier for salmon and other species trying to navigate the riverbanks. Finally, as riprap lessens available habitat for indigenous species, it can offer preferential habitat for invasive ones instead.

Given the potential for environmental harm, there have been calls to limit riprap use in British Columbia. Experts have suggested it should only be used in essential cases, ideally in river systems that are already heavily impacted by humans.

Bioengineering, revegetation alternatives

The good news is that there are bank-stabilizing alternatives to riprap.

Bioengineering involves using vegetation to create or support engineered structures. For example, live tree cuttings can be woven together to create wattles or brush mattresses. This process creates living tree walls and coverings that grow and strengthen over time.

Revegetation is another approach, using riparian planting to strengthen riverbanks with root systems. In some cases, this can be as simple as laying down seeds at the right time of year, often with other erosion control options like mulch terraces.

The key to the success of bioengineering and revegetation efforts is that they need to be done proactively. Unlike riprap, which can be installed as an emergency response measure, vegetation needs time to grow.

Next steps for B.C.

Riprap along part of Vancouver’s False Creek in July 2020. Given the potential for environmental harm, there have been calls to limit riprap use in British Columbia.
(Shutterstock)

Is it possible to move on from our over-reliance on riprap in B.C.?

During our workshop, experts discussed what needs to happen to support environmentally friendly bank stabilization options.

First off, we need to be talking about the overuse of riprap more. Currently, decision-makers and property-owners are often unaware of the potential harm that riprap can have on our rivers, or that alternatives exist. While many alternatives won’t be appropriate in extreme erosion cases, for the province’s smaller and healthier rivers, they would be ideal.

For this to happen, the bank-stabilization regulation process in B.C. needs to change. Currently it is hard to receive consent or funding to undertake bank strengthening activities outside of emergency riprap installation.

The B.C. government needs to adapt local guidelines and regulations to allow wider use of alternative methods, prioritizing proactive bank strengthening. They can draw on findings from elsewhere in Canada where alternative bank-stabilization options are already being tested.

Shifting away from a dependence on riprap won’t be easy, but in a province that relies on healthy rivers and fish, it should be a priority.

As one workshop attendee put it: “We don’t want to see sterile kilometres of riprap.”

Charlotte Milne receives funding from the Social Sciences and Humanities Research Council of Canada and the Public Scholars Initiative at UBC. The research mentioned in this article received funding from UBC’s Sustainability Scholars Program and support from Resilient Waters and the Watershed Watch Salmon Society.

– ref. Overuse of riprap to prevent riverbank erosion is harming B.C. rivers – https://theconversation.com/overuse-of-riprap-to-prevent-riverbank-erosion-is-harming-b-c-rivers-255283

MIL OSI Analysis –

July 8, 2025
MIL-OSI Canada: Tagging Bison at Buffalo Pound Provincial Park

Source: Government of Canada regional news

Released on July 7, 2025

Visitors to Buffalo Pound Provincial Park can now easily see where bison are in the park through GPS technology that identifies the herd’s location and displays it on a screen in the Visitor Centre.

Fourteen bison have been fitted with GPS ear tags, which allows park staff to track their movements within the park, monitor the health of the herd, learn more about their grazing patterns and determine if current conservation efforts are effective. The project is a partnership between the Ministries of Parks, Culture, Sport and Agriculture.

“The Bison at Buffalo Pound are part of the area’s history and they play a crucial role in the park’s ecosystem,” Parks, Culture and Sport Minister Alana Ross said. “With this new tracking system, park staff can make sure both the bison and the land remain healthy. It will also help visitors create a deeper connection to nature and the cultural importance of these remarkable animals.”

Bison were first introduced back into the park in 1972. Over the years the size of the herd has fluctuated as park staff learned about grazing patterns and how much space they need. The tracking system was installed to provide better data to support herd management.

“We often receive visitor inquiries about where the bison are in the park,” Buffalo Pound Provincial Park, Park Manager Dave Bjarnason said. “The herd lives on 250 acres of rolling hills and is not always visible from the fence line. The display helps visitors determine if they can find a spot to see them up close, and it gives us another opportunity to educate people about the bison.”

Saskatchewan livestock producers may also benefit from the information gathered at the park. The information will lay the groundwork for future projects about bison grazing behaviour and using technology to track livestock.

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For more information, contact:

MIL OSI Canada News –

July 8, 2025
MIL-OSI Canada: Minister Fraser to speak at Mil-Aero event unveiling expansion plans

Source: Government of Canada News

Dartmouth, Nova Scotia · July 7, 2025 · Atlantic Canada Opportunities Agency (ACOA)

The Honourable Sean Fraser, Minister of Justice and Attorney General of Canada and Minister responsible for the Atlantic Canada Opportunities Agency, will attend and speak at a special celebration to mark a major milestone in the growth of Mil-Aero Electronics, a female-owned Indigenous business in the Aerospace and Defence sector.

Date: July 8, 2025

Time: 3:00 p.m.

Location:
81 Mount Hope Ave.
Dartmouth, Nova Scotia

MIL OSI Canada News –

July 8, 2025

MIL-OSI: Central 1 Announces Voting Results from 2025 Virtual Annual General and Special Meeting

Source: GlobeNewswire (MIL-OSI)

VANCOUVER, British Columbia, July 07, 2025 (GLOBE NEWSWIRE) — Central 1 Credit Union (“Central 1”) is pleased to announce the voting results from its 2025 virtual Annual General and Special Meeting (“AGM”) held on June 26, 2025.

Class “A” Members passed two special resolutions approving amendments to Central 1’s Constitution and Rules (“Rules”) relating to a change in Board composition and the elimination of the Double Majority.

“In an age where consumers and technology are driving rapid evolution in the financial services industry, modern governance structures are critical to remaining nimble and responsive,” said Shelley McDade, Central 1’s Board Chair. “For Central 1 — and the members and clients it provides important payments, clearing & settlement, and treasury services to — these governance changes will enable robust decision-making, driving progress and impact for Canadian credit unions and other financial service providers who bring banking choice to Canadians.”

Also approved, by ordinary resolution, was the annual appointment of the auditors and resolutions relating to the Director Remuneration cap. Voting on the resolutions closed on July 4, 2025.

In order to be approved, each of the special resolutions were required to receive the approval of: (i) not less than 50% plus one of the Class “A” members voting on the resolution (“one member, one vote”); and (ii) not less than 2/3 of the votes cast by Class “A” members voting on the resolution, on the basis of one vote per Class A share held. All voting was done by electronic ballot.

Below are the voting results on each special resolution:

Special Resolution	Outcome of the Vote	Votes cast by Class “A” Members on the basis of one vote per Class “A” share (%)		Votes cast by Class “A” Members based on one member, one vote (%)
Special Resolution	Outcome of the Vote	Votes For	Votes Against	Votes For	Votes Against
Board Composition Amendments 25-AGM-S-1	Carried	94.42	5.58	90.91	9.09
Double Majority Amendment 25-AGM-S-2	Carried	92.79	7.21	81.82	18.18

Amendments to the Rules provided for by Special Resolution 25-AGM-S-1 (the “Board Composition Amendments”) included, generally, (i) reducing the number of directors on Central 1’s Board to eleven, (ii) seven directors from Class A Member credit unions of which two must be from Small/Medium Class A Members with four unaffiliated directors, (iii) the ability to adjust to six directors from Class A Member credit unions of which one must be from Small/Medium Class A Members with five unaffiliated directors, (iv) all eleven directed elected based on capital, and (v) removal of geographic boundaries.

Amendments to the Rules provided for by Special Resolution 22-AGM-S-2 (the “Double Majority Amendment”) included (i) the elimination of a requirement that amendments to the Rules be approved by a majority of not less than 50% plus one of the members voting on the resolution, and (ii) certain provisions relating to voting procedures with respect to Rule amendments.

Amendments to the Rules approved at the AGM are subject to regulatory approval.

Central 1 announced, at the meeting, that Meridian Credit Union re-appointed Sanjit (Sunny) Sodhi to Central 1’s Board for a third term. The following directors concluded their respective terms on Central 1’s Board of Directors and are thanked for their many contributions to the Board of Directors: Connie Denesiuk, Art Van Pelt, and Cheryl Wallace.

At the close of the 2025 AGM, Central 1’s Board of Directors is composed of the following directors:

Carolyn Burke	Shelley McDade
Paul Challinor	Penny-Lynn McPherson
Barry Delaney	Sunny Sodhi
Shawn Good	Christie Stephenson
Brian Harris	Tom Vandeloo
John Klassen	Russ Voutour

About Central 1

Central 1 cooperatively empowers credit unions and other financial institutions who deliver banking choice to Canadians. With assets of $10.8 billion as of March 31, 2025, Central 1 provides critical payments, treasury and clearing and settlement services at scale to enable a thriving credit union system. We do this by collaborating with our clients, developing strategies, products, and services to support the financial well-being of their more than 5 million diverse customers in communities across Canada. For more information, visit www.central1.com.

Contacts:

Media

Heather Merry
Senior Manager, Communications
Central 1
T 1.800.661.6813 ext. 2355
E communications@central1.com

Investors

Brent Clode
Chief Investment Officer
Central 1
T 905.282.8588 or 1 800 661 6813 ext. 8588
E bclode@central1.com

The MIL Network –

July 8, 2025

MIL-OSI: Fengate highlights responsible investment progress with release of 2024 Sustainability Report
Source: GlobeNewswire (MIL-OSI)

TORONTO, July 07, 2025 (GLOBE NEWSWIRE) — Fengate Asset Management (Fengate) today released its 2024 Sustainability Report (the report), demonstrating the firm’s continued commitment to responsible investment in Canada and the United States (U.S.).

Fengate’s second firmwide sustainability report, the latest report details the significant progress made in several key areas between January and December 2024, including responsible labour, environmental, social, and governance (ESG) data management, climate risk management, and economic impact reporting. The full 2024 Sustainability Report is available here.

“Fengate was founded with a fundamental commitment to upholding our responsibilities to our stakeholders, our environment, and our communities, as we believe responsible investment is critical to delivering long-term, sustainable value,” said Lou Serafini Jr., President and CEO of Fengate. “This report demonstrates that we can achieve impactful results by being thoughtful in the opportunities we pursue, in the decisions we make, and by selecting the right partners to help deliver our projects.”

The report also highlights key accomplishments from across Fengate’s infrastructure, private equity, and real estate businesses. Highlights include:
- Engaging labour responsibly: Fengate Infrastructure’s LAX Consolidated Rent-a-Car (ConRAC) project in Los Angeles was delivered under a Project Labour Agreement (PLA), creating more than 5,000 jobs and generating US$200 million in wages for the local workforce throughout construction. More than 4.1 million union construction labour hours were generated, with all of North America’s Building Trades Unions (NABTU) trades involved.
- Raising the bar for sustainable design: Fengate Real Estate’s Harmony Commons student residence project delivered for the University of Toronto became the largest passive house-certified building in Canada, and the largest passive house dormitory in the world. The building consumes 70% less energy and contributes 90% less GHG emissions per person in peak conditions and eliminates the use of fossil fuels for heating and cooling.
- Moving the needle on the energy transition: With nine renewable energy assets throughout the U.S., Fengate Infrastructure achieved a capacity of 749 megawatts (MW), generating more than 1.9 million megawatt-hours (MWh) of renewable energy in 2024.
- Enhancing nature protection: A third of Fengate Real Estate’s 600-acre Friday Harbour Resort in Innisfil, Ontario, is dedicated nature reserve. Every measure has been taken to ensure that natural wildlife – including 40 species of birds, deer, and red fox – are protected. Additionally, new wetlands have been created to provide enhanced habitat opportunities for a range of flora and fauna.
- Improving resource conservation: Fengate partnered with U-PAK Emerald Energy to divert 100% of landfill waste from the office buildings it manages to achieve zero waste, with 628 metric tonnes of waste diverted, 2,093 tonnes of greenhouse gas (GHG) emissions avoided, and 125 MWh of electricity generated from waste.
- Elevating industry leadership: Fengate was recognized as one of Canada’s Best Managed Companies for the 17th consecutive year, named as one of Canada’s Top Small & Medium Employers, and was recognized by Great Place to Work Canada as a Best Workplace for Financial Services, Women, Inclusion, Mental Wellness, Today’s Youth, Giving Back, and Most Trusted Executive Teams. The firm also achieved a 5/5 PRI (Principles for Responsible Investment) score on policy, governance, and strategy for the 2024 assessment period.
About Fengate
Fengate is a leading alternative investment manager with more than $24 billion in assets under management, focused on infrastructure, private equity, and real estate strategies. With offices in Toronto, Miami, and Houston, and 300 team members across North America, Fengate leverages more than 50 years of entrepreneurial experience to deliver excellent investment results on behalf of its clients. Learn more at www.fengate.com.

Media contact
Dale Gago
Communications and Marketing Business Partner
Fengate Asset Management
dale.gago@fengate.com
437 326 1473

The MIL Network –
July 8, 2025
MIL-OSI: WTW appoints Alena Kharkavets as Head of Claims in North America

Source: GlobeNewswire (MIL-OSI)

NEW YORK, July 07, 2025 (GLOBE NEWSWIRE) — WTW (NASDAQ: WTW), a global advisory, broking and solutions company, today announced that Alena Kharkavets has been appointed North American Head of Claims in its Insurance Consulting and Technology (ICT) business.

Kharkavets comes to WTW from Intact Financial Corporation (TSE: IFC), Canada’s largest provider of property and casualty insurance, where she held progressively senior roles and spent nearly twenty years building deep, end-to-end expertise in pricing, claims, underwriting, M&A, digital distribution and strategy.

Kharkavets will work with clients to advance their claims analytics, embedding data science and AI into claims processes to create better claims outcomes for carriers and their customers. She will also collaborate on projects outside of claims, including leading on the provision of strategic advice to clients on the most effective use of data and analytics to improve decision making across their organizations.

Laura Doddington, Head of Personal and Commercial Lines, North America, Insurance Consulting and Technology, WTW, said: “Alena is a recognized leader in insurance pricing and claims analytics and we are excited to have her join our team. Her deep expertise, technical skills and commitment to data-driven decision making will be major assets to our clients, as we continue to strengthen our position as the leading consulting and technology solutions provider for the insurance industry.”

Alena Kharkavets said: “I am excited to be given the opportunity to work with WTW’s hugely experienced and talented ICT team. I look forward to harnessing and extending WTW’s market-leading technology capabilities and innovations to deliver solutions that generate exceptional value to our clients and build upon WTW’s reputation for excellence.”

About WTW

At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organisations sharpen their strategy, enhance organisational resilience, motivate their workforce and maximise performance.

Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success—and provide perspective that moves you.

Learn more at wtwco.com.

Media Contact
Andrew Collis: +44 7932 725 267 | Andrew.Collis@wtwco.com

Arnelle Sullivan: +1 (718) 208-0474 | Arnelle.Sullivan@wtwco.com

The MIL Network –

July 8, 2025
MIL-OSI: WTW appoints Alena Kharkavets as Head of Claims in North America

Source: GlobeNewswire (MIL-OSI)

NEW YORK, July 07, 2025 (GLOBE NEWSWIRE) — WTW (NASDAQ: WTW), a global advisory, broking and solutions company, today announced that Alena Kharkavets has been appointed North American Head of Claims in its Insurance Consulting and Technology (ICT) business.

Kharkavets comes to WTW from Intact Financial Corporation (TSE: IFC), Canada’s largest provider of property and casualty insurance, where she held progressively senior roles and spent nearly twenty years building deep, end-to-end expertise in pricing, claims, underwriting, M&A, digital distribution and strategy.

Kharkavets will work with clients to advance their claims analytics, embedding data science and AI into claims processes to create better claims outcomes for carriers and their customers. She will also collaborate on projects outside of claims, including leading on the provision of strategic advice to clients on the most effective use of data and analytics to improve decision making across their organizations.

Laura Doddington, Head of Personal and Commercial Lines, North America, Insurance Consulting and Technology, WTW, said: “Alena is a recognized leader in insurance pricing and claims analytics and we are excited to have her join our team. Her deep expertise, technical skills and commitment to data-driven decision making will be major assets to our clients, as we continue to strengthen our position as the leading consulting and technology solutions provider for the insurance industry.”

Alena Kharkavets said: “I am excited to be given the opportunity to work with WTW’s hugely experienced and talented ICT team. I look forward to harnessing and extending WTW’s market-leading technology capabilities and innovations to deliver solutions that generate exceptional value to our clients and build upon WTW’s reputation for excellence.”

About WTW

At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organisations sharpen their strategy, enhance organisational resilience, motivate their workforce and maximise performance.

Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success—and provide perspective that moves you.

Learn more at wtwco.com.

Media Contact
Andrew Collis: +44 7932 725 267 | Andrew.Collis@wtwco.com

Arnelle Sullivan: +1 (718) 208-0474 | Arnelle.Sullivan@wtwco.com

The MIL Network –

July 8, 2025
MIL-OSI: Sidetrade: 20 years on the stock market, 20 times its IPO price
Source: GlobeNewswire (MIL-OSI)

Sidetrade, the global leader in AI-powered Order-to-Cash applications, today celebrates 20 remarkable years as a listed company. Founded in Paris, France, the company has become a global leader in Order-to-Cash and has multiplied its market valuation twentyfold since its IPO on July 7, 2005.

On July 7, 2025, in a moment filled with pride and emotion, Sidetrade’s Founder and CEO, Olivier Novasque, visited the Euronext Paris headquarters alongside some of the company’s historic figures to mark two decades of public listing. The traditional market opening bell ceremony highlighted two decades of uninterrupted growth and bold entrepreneurship that have established Sidetrade as a world leader in the Order-to-Cash space. Twenty years after its IPO, Sidetrade stands as a unique French tech success story, built on a foundation of performance, innovation, resilience, and independence.

A founding vision: leveraging technology to power business cash flow
When Olivier Novasque founded Sidetrade in 2000, his goal was to build a valuable, agile company ahead of its time. He foresaw the need to reinvent the financial relationship between customers and suppliers, moving away from a purely administrative model toward one driven by performance. Based on this vision, he laid the foundation for a technology platform designed to deeply transform cash flow generation. Going against the prevailing standards of the time, he rejected the dominant on-premises model and bet on SaaS from the very beginning, an audacious move that proved visionary.

A former finance executive turned entrepreneur, Novasque made the rare choice to raise only essential funds. Instead, he prioritized self-financed growth, aiming to build a high-quality, industrial-grade, tech-driven business.

“I believe the best companies aren’t necessarily those that raise the most money, but those that work tirelessly to execute their vision with rigor, creativity, and resilience,” said Olivier Novasque, CEO and founder at Sidetrade. “Today, I want to honor everyone, past and present, who has contributed to Sidetrade’s journey. I’m proud to be surrounded by an executive team united by a spirit of ambition, innovation, and excellence. Together, with all Sidetraders, we are ushering Order-to-Cash into the age of the Agentic Revolution.”

For years, tech company success was often measured by the size of their fundraising rounds rather than their ability to sustain a viable business model. Sidetrade took a different route, rooting its growth in self-financing. Aside from €2 million raised pre-IPO and a €4.5 million capital increase at IPO, Sidetrade has never resorted to public fundraising or shareholder dilution.

As of today, the company holds nearly €50 million in cash and treasury shares. This performance is the result of a sustained growth strategy and over a decade of investment in artificial intelligence, funded entirely by the company’s ability to generate cash year after year. In 2024, the company delivered a standout performance:
- Revenue growth of +26% (+16% on a comparable basis)
- Operating margin of 15%
- Net income of €7.9 million
- Free cash flow of €8.7 million
This financial discipline has in no way compromised shareholder value creation. Listed at €12.50 in 2005, Sidetrade’s share price has increased twentyfold, reaching €249 as of July 4, 2025. This represents a stock market performance of over +1,800%, more than 11 times that of the CAC Mid & Small index, which rose by +164% over the same period.

A recognized technology leader

Innovation is part of Sidetrade’s DNA. In 2025, the company’s innovation capabilities were recognized by some of the most respected rankings in the sector:
- Named a Leader in Gartner® Magic Quadrant™ for the third consecutive year
- Identified by IDC as a key player in financial automation
- Ranked among Europe’s 150 Most Innovative Companies by Fortune
These accolades highlight the uniqueness of Sidetrade’s technology foundation, which includes a cloud-native architecture, proprietary action-oriented AI, and a one-of-a-kind payment behavior Data Lake, enriched with over $7.2 trillion in intercompany transactions.

From its humble beginnings in a Paris office to a global presence, Sidetrade has followed a trajectory of organic growth reinforced by nine acquisitions. The company has rigorously executed its model while expanding geographically across Germany, the UK, Ireland, the US, Canada, and of course, France. Today, with 65% of revenue generated outside France, Sidetrade supports major enterprises in 85 countries as a partner in their financial transformation.

Sidetrade’s inclusion in the Euronext Tech Leaders index in June 2025 marks more than institutional recognition; it affirms the rise of a European tech champion capable of combining breakthrough innovation with profitable growth to power the next generation of enterprise finance.

“Congratulations to Sidetrade on 20 years of public listing on Euronext,” said Delphine d’Amarzit, Euronext Paris Chairwoman and CEO. “Sidetrade’s remarkable stock market journey is a testament to its sustained growth and demonstrates the power of Euronext to help local SMEs become global mid-cap players while preserving their independence. It perfectly embodies the synergy between entrepreneurial ambition and the excellence of European capital markets, recently underscored by Sidetrade’s entry into the Euronext Tech Leaders index.”

Sidetrade’s unique trajectory, combining technological innovation, financial performance, and capital discipline, is now catching the attention of American institutional investors. “Sidetrade’s stock performance reflects a remarkable growth journey and a robust business model built on high revenue recurrence, operational excellence, and cash generation,” said Jean-Pierre Tabart, Senior Analyst at TP ICAP Midcap. “Above all, we believe the group still holds significant upside potential. Beyond the strength and durability of its fundamentals, a substantial valuation gap remains compared to North American SaaS players. Moreover, the current share price does not reflect the stock’s strategic value, driven by its scarcity—there are very few opportunities in the European market to gain exposure to a true SaaS company—and by Sidetrade’s lead in artificial intelligence, which is expected to further reinforce its technological leadership in the Order-to-Cash space.”

Sidetrade is one of the few long-term success stories on the Euronext stock market. With a robust and exportable model, the company has established itself as a global leader with solutions deployed across multinational companies. This trajectory, built with discipline and vision, is now entering a new chapter: one of AI-augmented finance, where more intelligent, more autonomous, and entirely focused on the AI agent revolution.

Next financial announcement
First Half Year Revenue for 2025: July 16, 2025 (after the stock market closes)

Investor & Media relations @Sidetrade

Christelle Dhrif +33 6 10 46 72 00 cdhrif@sidetrade.com

About Sidetrade (www.sidetrade.com)
Sidetrade (Euronext Growth: ALBFR.PA) provides a SaaS platform designed to revolutionize how cash flow is secured and accelerated. Leveraging its new-generation agentic AI, nicknamed Aimie, Sidetrade analyzes $7.2 trillion worth of B2B payment transactions daily in its Cloud, thereby anticipating customer payment behavior and the attrition risk of 40 million buyers worldwide. Sidetrade has a global reach, with 400+ talented employees based in Europe, the United States, and Canada, serving global businesses in more than 85 countries. Among them: AGFA, BMW Financial Services, Bunzl, DXC, Engie, Inmarsat, KPMG, Lafarge, Manpower, Morningstar, Page, Randstad, Safran, Saint-Gobain, Securitas, Siemens, UGI, Veolia.
For further information, visit us at www.sidetrade.com and follow @Sidetrade on LinkedIn.

Contact Euronext

Flavio Bornancin-Tomasella fbornancin-tomasella@euronext.com

About Euronext

Euronext is the leading European capital market infrastructure, covering the entire capital markets value chain, from listing, trading, clearing, settlement and custody, to solutions for issuers and investors. Euronext runs MTS, one of Europe’s leading electronic fixed income trading markets, and Nord Pool, the European power market. Euronext also provides clearing and settlement services through Euronext Clearing and its Euronext Securities CSDs in Denmark, Italy, Norway, and Portugal. As of March 2025, Euronext’s regulated exchanges in Belgium, France, Ireland, Italy, the Netherlands, Norway, and Portugal host nearly 1,800 listed issuers with around €6.3 trillion in market capitalisation, a strong blue-chip franchise and the largest global centre for debt and fund listings. With a diverse domestic and international client base, Euronext handles 25% of European lit equity trading. Its products include equities, FX, ETFs, bonds, derivatives, commodities and indices.
For the latest news, follow us on X (x.com/euronext) and LinkedIn (linkedin.com/company/euronext).
In the event of any discrepancy between the French and English versions of this press release, only the English version is to be taken into account.

Attachment
- Sidetrade: 20 years on the stock market, 20 times its IPO price
The MIL Network –
July 8, 2025

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