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Category: Canada

  • MIL-OSI: CarGurus Report Finds Consumer Demand for Affordability and Fuel Efficiency Shaping Today’s Auto Market

    Source: GlobeNewswire (MIL-OSI)

    Mid-year auto market analysis reveals how tariffs and ongoing demand for affordability have influenced vehicle supply, pricing, and demand so far this year

    BOSTON, June 17, 2025 (GLOBE NEWSWIRE) — CarGurus (Nasdaq: CARG), the No. 1 visited digital auto platform for shopping, buying, and selling new and used vehicles1, today released its 2025 Mid-Year Auto Market Review. The analysis highlights the impact of tariff uncertainty, shifting inventory dynamics, and evolving consumer preferences on the new and used vehicle market.

    “So far this year, the auto market has been shaped by dramatic shifts in consumer behavior fueled by shifting policies and economic uncertainty,” said Kevin Roberts, Director of Economic and Market Intelligence at CarGurus. “These pressures have amplified what car shoppers demand most: affordability and efficiency. While vehicle prices have mostly held steady despite tariffs, it remains to be seen how long the current balance of pricing and demand can last, especially as value-driven options become harder to find.”

    • Tariff-driven sales surge has reduced affordable new inventory: New vehicle sales spiked 48% year-over-year in the days after the March tariff announcement as buyers raced to beat potential price increases. While sales demand has since normalized to more seasonal patterns, the affordable segment is showing lasting impacts. Listings for new cars under $30,000 have dropped by 15% since late March, with compacts and crossovers like the Honda Civic, Buick Encore GX, Jeep Compass, and Mazda CX-30 seeing the steepest declines.
    • The average new vehicle price is holding steady: While over 60% of new vehicle listings today are post-tariff inventory, the average new car price has remained relatively stable at approximately $49,600. Model-level price changes tell a more nuanced story, with luxury SUVs seeing some of the largest price increases since tariffs went into effect in April and electric vehicles (EVs) posting the biggest price decreases.
    • Aged new car inventory may offer value: Despite the Spring sales surge, 2024 and older model-year vehicles are maintaining a high share of inventory — approaching levels not seen since 2020. At mid-year, over 7% of new car listings were 2024 or older, with Ford trucks and SUVs among the top models with older model year supply, creating a chance for shoppers to find a potential deal on pre-tariff inventory.
    • Used inventory reaches multi-year highs, but value has been redefined: Despite abundant used car supply, 3- to 4-year-old models — the sweet spot for value-conscious buyers — remain scarce and priced at a premium due to lingering effects of pandemic-era production disruptions. For those in the market for a used car under $20,000, options are increasingly older and higher mileage. At both ends of the age spectrum, however, fuel-efficient models (spanning hybrids, EVs, and compacts) lead the pack in demand.
    • Hybrids stand out for pricing and demand: Hybrids continued to lead new vehicle sales growth in 2025, buoyed by strong demand and attractive pricing. Average list prices for new hybrids decreased by about $1,400 year-over-year, helping drive a 43% increase in retail sales compared to 2024. Notably, hybrid and gas models are now the most commonly cross-shopped combinations, as shoppers increasingly prioritize practicality and affordability.

    For a deeper look at these trends and more, the full 2025 Mid-Year Review is available here: https://cargur.us/1dRcr8

    About CarGurus, Inc.

    CarGurus (Nasdaq: CARG) is a multinational, online automotive platform for buying and selling vehicles that is building upon its industry-leading listings marketplace with both digital retail solutions and the CarOffer online wholesale platform. The CarGurus platform gives consumers the confidence to purchase and/or sell a vehicle either online or in-person, and it gives dealerships the power to accurately price, effectively market, instantly acquire, and quickly sell vehicles, all with a nationwide reach. The company uses proprietary technology, search algorithms, and data analytics to bring trust, transparency, and competitive pricing to the automotive shopping experience. CarGurus is the most visited automotive shopping site in the U.S. 1

    CarGurus also operates online marketplaces under the CarGurus brand in Canada and the U.K. In the U.S. and the U.K., CarGurus also operates the Autolist and PistonHeads online marketplaces, respectively, as independent brands.

    To learn more about CarGurus, visit www.cargurus.com, and for more information about CarOffer, visit www.caroffer.com.

    CarGurus® is a registered trademark of CarGurus, Inc., and CarOffer® is a registered trademark of CarOffer, LLC. All other product names, trademarks and registered trademarks are the property of their respective owners.

    1Similarweb: Traffic Report [Cars.com, Autotrader, TrueCar, CARFAX Listings (defined as CARFAX Total visits minus Vehicle History Reports traffic)], Q1 2025, U.S.

    Media Contact:
    Maggie Meluzio
    Director, Public Relations & External Communications
    pr@cargurus.com

    Investor Contact:
    Kirndeep Singh
    Vice President, Investor Relations
    investors@cargurus.com

    The MIL Network –

  • MIL-OSI: Locus Technologies Integrates with the Latest USGS Produced Water Database

    Source: GlobeNewswire (MIL-OSI)

    The enriched software drives contextual business intelligence for the oil and gas industry 

    MOUNTAIN VIEW, Calif., June 17, 2025 (GLOBE NEWSWIRE) — Locus Technologies, the sustainability and Environmental Health and Safety (EHS) compliance software leader, announced its new integration with the U.S. Geological Survey’s (USGS) National Produced Waters Geochemical Database, simplifying compliance reporting for the oil and gas sector and enabling benchmarking against independent, scientifically validated data. Through this integration, geochemical records and water-related data from oil and gas wells across major U.S. basins—particularly those associated with hydraulic fracking—will be available to users of Locus Environmental Information Management (EIM) software, Locus GIS+, Locus Platform, and the company’s Produced Water App. The integration enriches geospatial analysis and accelerates strategic planning, placing an organization’s operational compliance and analytical data in the context of 100+ years of aggregated government records and 28 years of anonymized Locus data.

    “This is a game changer for oil and gas companies as they responsibly manage produced water,” said Neno Duplan, founder and CEO of Locus Technologies. “We are positioning enterprises to focus their resources on substantive action plans rather than on aggregating siloed information. By leveraging open data intelligently, Locus continues to lead in delivering not just software—but the knowledge and context our customers need to succeed in today’s ESG- and CSRD-driven landscape.”

    Locus software users tap chemistry sampling results from produced water and other deep formations from as early as 1905. The data spans 155 parameters, including metals, volatiles, gases, salts, radionuclides, and field readings, from 113,135 locations across the US and southern Canada. The publicly available dataset, released by USGS in December 2023, is the latest compilation and includes well descriptions, dates, rock properties, physical properties of the water, organic chemistry, and much more.

    “It’s incredibly powerful, enabling customers to instantly generate visualizations of their data compared to USGS by region, depth, and chemistry, define regional chemical profiles and reuse thresholds, or flag anomalies in water quality trends – in seconds,” said Duplan. “We’ve aggregated the largest curated dataset available for AI and machine learning in the oil and gas water quality domain, and our integrated AI tools yield unprecedented insight and predictive power for Locus customers to manage their water metrics and quality.”

    To learn more about Locus software and this integration, please visit http://www.locustec.com.

    About Locus Technologies
    Locus Technologies, the global environmental, social, governance (ESG), sustainability, and EHS compliance software leader, empowers companies of every size and industry to be credible with ESG reporting. From 1997, Locus pioneered enterprise software-as-a-service (SaaS) for EHS compliance, water management, and ESG credible reporting. Locus apps and software solutions improve business performance by strengthening risk management and EHS for organizations across industries and government agencies. Organizations ranging from medium-sized businesses to Fortune 500 enterprises, such as Sempra, Corteva, Chevron, DuPont, Chemours, San Jose Water Company, The Port Authority of New York and New Jersey, Port of Seattle, and Los Alamos National Laboratory, have selected Locus. Locus is headquartered in Mountain View, California. For further information regarding Locus and its commitment to excellence in SaaS solutions, please visit http://www.locustec.com or email info@locustec.com.

    Media Contact:
    Brenda Mahedy
    Locus Technologies
    media@locustechnologies.net 

    The MIL Network –

  • MIL-OSI: Värde Launches Fund Finance Platform

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, June 17, 2025 (GLOBE NEWSWIRE) — Värde Partners, a leading global alternative investment firm specializing in credit and credit-related assets, today announced the launch of its fund finance platform.

    Building on Värde’s broader asset-based finance strategy, the platform is an extension of Värde’s capabilities designed to address the increased demand for subscription lines (“sublines”) and other fund finance-related products. The firm’s fund finance strategy aims to support bank origination through natural distribution channels in addition to meeting borrower demands for more structured financing solutions, both of which will expand lending capacity to the market.

    Värde launches its fund finance platform with $300 million of strategic equity capital from Canada Pension Plan Investment Board (CPP Investments), through subsidiaries of CPPIB Credit Investments Inc., in addition to other Värde-dedicated capital. The platform has already closed a forward flow agreement with a large global bank to bolster the bank’s subline origination capacity.

    Brad Bauer, Managing Partner and CEO of Värde, said: “We deeply appreciate the support and collaboration of our longstanding partners as we developed the infrastructure to expand this offering to the broader market. The launch of this platform enables us to expand our relationships with bank partners while creating exposure to what we believe to be an attractive investment opportunity.”

    Missy Dolski, Global Head of Fund Finance and Capital Markets at Värde, said: “We see the rising demand for fund finance products as creating a durable, highly scalable opportunity as private capital and, therefore, fund financing needs continue to grow. The emergence of non-traditional long-term capital providers into the over $1 trillion subline lending market is a transformative development in a space that has not had a significant capital markets solution which we believe ultimately benefits underlying borrowers.”

    David Colla, Managing Director, Head of Capital Solutions Group at CPP Investments, said: “As demand for fund financing grows, we view subline lending markets as a compelling opportunity for investors like CPP Investments with long-term capital available for deployment. This transaction is an important and strategic step in building a strong partnership with Värde, who brings expertise in this space, and we look forward to working with them to generate attractive risk-adjusted returns for the benefit of CPP contributors and beneficiaries.”

    Värde has over 30 years of experience investing in private credit markets, including originating bespoke financing solutions through contractual cash flow lending and forward flow financing. Värde is also an experienced investor in significant risk transfer (“SRT”) transactions and other private capital solutions in partnership with banks. Since 2008, Värde has deployed $13 billion through its asset-based finance strategy.

    About Värde Partners
    Värde Partners is a leading global investment firm specializing in credit and credit-related assets. Founded in 1993, the firm has invested more than $100 billion across the credit quality and liquidity spectrum and currently manages $17 billion in assets. With local investment teams and partnerships in North America, Europe and Asia Pacific, Värde invests across private and public markets with a focus on real estate, asset-based finance and corporate credit. For more information, please visit www.varde.com.

    About CPP Investments
    Canada Pension Plan Investment Board (CPP Investments™) is a professional investment management organization that manages the Fund in the best interest of the more than 22 million contributors and beneficiaries of the Canada Pension Plan. In order to build diversified portfolios of assets, investments are made around the world in public equities, private equities, real estate, infrastructure and fixed income. Headquartered in Toronto, with offices in Hong Kong, London, Mumbai, New York City, San Francisco, São Paulo and Sydney, CPP Investments is governed and managed independently of the Canada Pension Plan and at arm’s length from governments. At December 31, 2024, the Fund totalled C$699.6 billion. For more information, please visit www.cppinvestments.com or follow us on LinkedIn, Instagram or on X @CPPInvestments.

    Media Contacts

    Värde Partners
    communications@varde.com

    CPP Investments
    Frank Switzer, Public Affairs & Communications
    T: +1 416 523 8039
    fswitzer@cppib.com

    The MIL Network –

  • MIL-OSI: The Keg Royalties Income Fund Enters into Arrangement Agreement

    Source: GlobeNewswire (MIL-OSI)

    Not for distribution to U.S. News wire services or dissemination in the U.S.

    VANCOUVER, British Columbia, June 17, 2025 (GLOBE NEWSWIRE) — The Keg Royalties Income Fund (the “Fund”) (TSX: KEG.UN) today announced that, further to the non-binding letter of intent previously announced on May 5, 2025 (the “LOI”), it has entered into an arrangement agreement (the “Arrangement Agreement“) with 1543965 B.C. Ltd. (the “Purchaser“) an affiliate of Fairfax Financial Holdings Limited (collectively with its affiliates, “Fairfax”) pursuant to which the Purchaser has agreed to acquire all of the issued and outstanding units of the Fund (“Units”) other than Units already owned by Fairfax, for a price of $18.60 per Unit (the “Purchase Price”), payable in cash (the “Transaction”). The Transaction is not subject to a financing condition. The Fund will continue to pay its monthly cash distribution to unitholders (“Unitholders”) until the Transaction is completed, including a prorated cash distribution for the month in which the closing of the Transaction (the “Closing”) occurs, as well as a special cash distribution based on the Fund’s historical practice of paying annual special distributions, prorated for the portion of the fiscal year completed as of the Closing.

    Kip Woodward, Chairman of the Fund, commented, “The Transaction offers the Fund’s unitholders a substantial premium at a compelling valuation, as well as immediate liquidity. It also provides the Keg business with additional financial flexibility in the hands of a committed, well-capitalized owner with a long-term perspective. We are very pleased to have reached this definitive agreement with Fairfax for our unitholders, following our announcement of the non-binding LOI last month.”

    Benefits of the Transaction to Unitholders

    The Transaction, if completed, will provide numerous benefits to Unitholders, including the following:

    • Compelling Value and Significant Premium – the Purchase Price represents a 30.8% premium to the closing price for the Units on May 2, 2025 (the last trading day prior to the announcement of the LOI), and a 34.7% premium to the 20-day volume weighted average trading price as of that date.
    • Certainty and Immediate Liquidity – the Purchase Price is 100% payable in cash, with no financing condition, providing Unitholders with certainty and immediate liquidity.
    • Continued Distributions to Closing – the Fund will continue to pay its monthly cash distribution to Unitholders of $0.0946 per Unit until the Transaction is completed, including a prorated monthly distribution for the month in which the Closing occurs, as well as a special cash distribution based on the Fund’s historical practice of paying annual special distributions, with such special cash distribution being set at $0.055 per Unit for the 2025 fiscal year, prorated for the portion of the fiscal year completed as of the Closing.

    Trustee Recommendation

    The Transaction is the product of extensive, arm’s length negotiations that took place between the board of trustees of the Fund (the “Trustees”) and representatives of Fairfax. Throughout the negotiations, the Trustees were advised by independent and highly qualified legal and financial advisors.

    In connection with their review of the Transaction, the Trustees retained Fort Capital Partners (“Fort Capital”) as its independent valuator in accordance with Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“). Fort Capital delivered an oral opinion to the Trustees that, as of June 16, 2025, and subject to certain assumptions, limitations and qualifications to be set forth in the written formal valuation that will be included in the management information circular (the “Circular“) that will be sent to the Unitholders in connection with the special meeting to be called to approve the Transaction (the “Special Meeting“), the fair market value of the Units is in the range of $16.50 to $19.50 per Unit (the “Formal Valuation“). Fort Capital has also delivered an oral fairness opinion to the Trustees that, as of June 16, 2025, and subject to the assumptions, limitations and qualifications to be set forth in Fort Capital’s written fairness opinion that will be included in the Circular, the consideration to be received by the Unitholders (other than Fairfax) pursuant to the Transaction is fair, from a financial point of view, to the Unitholders (other than Fairfax) (the “Fort Capital Fairness Opinion“).

    Additionally, Capital West Partners (“Capital West”), financial advisor to the Trustees, provided an oral fairness opinion to the Trustees stating that, as of June 16, 2025, and subject to certain assumptions, limitations and qualifications to be set forth in Capital West’s written fairness opinion that will be included in the Circular, the consideration to be received by the Unitholders (other than Fairfax) pursuant to the Transaction is fair, from a financial point of view, to the Unitholders (other than Fairfax) (together with the Fort Capital Fairness Opinion, the “Fairness Opinions“).

    The Trustees of the Fund, after receiving legal and financial advice, the Fairness Opinions and the Formal Valuation, have unanimously determined that the Transaction is in the best interests of the Fund and fair to the Unitholders (other than Fairfax) and unanimously recommend that the Unitholders vote in favour of the Transaction.

    Copies of the Formal Valuation and the Fairness Opinions, as well as additional details regarding the terms and conditions of the Transaction, will be contained in the Circular, which will be filed with applicable Canadian securities regulators, made available on the SEDAR+ profile of the Fund at www.sedarplus.ca and mailed to the Unitholders in connection with the Special Meeting.

    Transaction Structure and Details

    The Transaction is structured as a statutory plan of arrangement under the Business Corporations Act (British Columbia), pursuant to which, among other things, the Purchaser will acquire all of the issued and outstanding Units, other than Units already owned by Fairfax, for the Purchase Price payable in cash.

    The Transaction is expected to close in the third quarter of this year and is subject to customary closing conditions, including court approval, the approval of the Unitholders (as further described below), approval of the Toronto Stock Exchange and regulatory approval under the Competition Act (Canada).

    Completion of the Transaction will be subject to the approval of (i) more than two-thirds (66 2/3%) of the votes cast by Unitholders present in person or represented by proxy at the Special Meeting and (ii) the majority of the votes cast by Unitholders present in person or represented by proxy at the Special Meeting, excluding the votes of Fairfax (which currently owns approximately 33.92% of the Units on a fully-diluted basis, including securities exchangeable into Units (“Exchangeable Units”)) and any other Unitholders whose votes are required to be excluded for the purposes of “minority approval” under MI 61-101. Further details regarding the applicable voting requirements will be contained in the Circular.

    The Trustees and certain other Unitholders, including individuals who are directors and/or officers of certain subsidiaries of the Fund, and, as previously announced, the largest holder of outstanding Units (without taking into account any Exchangeable Units held by Fairfax), have agreed to vote their respective Units, if any, in favour of the resolution approving the Transaction, subject to certain customary conditions set forth in voting and support agreements (the “Support Agreements”). These Unitholders who have entered into Support Agreements currently hold an aggregate of approximately 14.7% of the issued and outstanding Units on an undiluted basis (representing approximately 9.9% of the issued and outstanding Units on a fully diluted basis, including the Exchangeable Units).

    Advisors

    Capital West Partners and Lawson Lundell LLP are acting as financial advisor and legal advisor, respectively, to the Trustees in respect of the Transaction. Torys LLP is acting as legal advisor to Fairfax in respect of the Transaction.

    Forward Looking Information

    This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) within the meaning of applicable securities laws. This information includes, but is not limited to, statements concerning the Fund’s objectives, its strategies to achieve those objectives, as well as statements made with respect to the Trustees’ beliefs, plans, estimates, projections and intentions, and similar statements concerning anticipated future events, results, circumstances, performance or expectations that are not historical facts. In some cases, forward-looking information can be identified by the use of forward-looking terminology such as “expects”, “estimates”, “intends”, “anticipates”, “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might”, “will”, “will be taken”, “occur” or “be achieved”. In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent the Trustees’ expectations, estimates and projections regarding future events or circumstances. Forward-looking information in this news release, which includes, among other things, statements relating to the Transaction (including statements in respect of the consummation of the Transaction, the payment of cash distributions, and the satisfaction of the conditions precedent thereto, in each case, if at all), is necessarily based on a number of opinions and assumptions that the Trustees considered appropriate and reasonable as of the date such statements are made in light of their experience, current conditions and expected future developments, including the assumption that the Transaction can be completed on acceptable terms and that any conditions precedent can be satisfied.

    Risks and uncertainties related to the Transaction include, but are not limited to: the possibility that the Transaction will not be completed on the terms and conditions currently contemplated; failure of the Fund and Fairfax to obtain the required regulatory, court, stock exchange and Unitholder approvals for, or satisfy other conditions to effect, the Transaction; the risk that the Transaction may involve unexpected costs, liabilities or delays; the risk of a change in general economic conditions; the risk that, prior to the completion of the Transaction, the business of KRL (as defined below) may experience significant disruptions; the risk that any legal proceedings may be instituted against the Fund or determined adversely to the interests of the Fund; and other risk factors contained in filings made by the Fund with the Canadian securities regulators, including the Fund’s annual information form dated March 25, 2025 and financial statements and related management discussion and analysis for the financial year ended December 31, 2024 filed with the securities regulatory authorities in certain jurisdictions of Canada and available at www.sedarplus.ca.

    Although the Trustees have attempted to identify important risk factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other risk factors not presently known to them or that they presently believe are not material that could also cause actual results or future events to differ materially from those expressed in such forward- looking information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. No forward-looking statement is a guarantee of future results. Accordingly, you should not place undue reliance on forward-looking information, which speaks only as of the date made. The forward-looking information contained in this news release represents the Fund’s expectations as of the date of this news release (or as the date they are otherwise stated to be made) and are subject to change after such date. However, the Fund disclaims any intention or obligation or undertaking to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws in Canada. All of the forward-looking information contained in this news release is expressly qualified by the foregoing cautionary statements.

    About The Keg Royalties Income Fund

    The Fund is a limited purpose, open-ended trust established under the laws of the Province of Ontario that, through The Keg Rights Limited Partnership, a subsidiary of the Fund, owns certain trademarks and other related intellectual property used by Keg Restaurants Ltd. (“KRL”). Vancouver-based KRL is the leading operator and franchisor of steakhouse restaurants in Canada and has a substantial presence in select regional markets in the United States. KRL has been named the number one restaurant company to work for in Canada in the latest edition of Forbes “Canada’s Best Employers 2025” survey.

    About Fairfax Financial Holdings Limited

    Fairfax Financial Holdings Limited is a holding company which, through its subsidiaries, is primarily engaged in property and casualty insurance and reinsurance and the associated investment management.

    The MIL Network –

  • MIL-OSI: Combining Sustainable Growth with Performance: Boralex Announces Its Strategic Plan and Financial Objectives for 2030

    Source: GlobeNewswire (MIL-OSI)

    MONTRÉAL, June 17, 2025 (GLOBE NEWSWIRE) — Boralex inc. (“Boralex” or the “Company”) (TSX: BLX) announces its Strategic Plan and Financial Objectives for 2030.

    2030 Strategy Highlights

    • Acceleration of organic growth, leveraging our high-quality pipeline of projects and growth path
    • Maintain disciplined financial management with precise expected returns indicators, a solid balance sheet, flexible and agile financing and the introduction of a cash flows per share growth objective.  
    • Three simplified pillars: growth, efficiency and long-term differentiation.
    • Two markets in strong leadership position: Canada, with strong growth potential in Quebec and Ontario, and France, with significant potential to optimize revenues and cash flows from operating assets.
    • Two expanding markets: certain U.S. states, including solar in New York State, and the United Kingdom through the development of a long-term growth platform.
    • Increase in the weighted average remaining contract duration1 from 11 years in 2024 to 14 years by 2030.
    • Keeping up the pace of growth: double the Company’s installed capacity2 every five years within a diverse, inclusive, and responsible work environment aimed at a net-zero trajectory by 2050.

    “We are very proud to present the results of our 2030 strategic planning exercise. In a context where climate risk remains one of the main business risks globally, our strategy aims to combine sustainable growth with performance through the production of renewable and affordable energy,” said Patrick Decostre, President and Chief Executive Officer of Boralex. “By executing this plan, we are unlocking the full potential of our business model, which will allow us to seize the most promising opportunities in the four markets where we are already active and where demand for renewable energy is growing rapidly,” he added.

    “This growth, supported by a development projects pipeline and growth path of 8 GW, will be carried out in a disciplined manner and will continue to focus on securing long-term power purchase agreements with an increasingly diversified customer base. Moreover, the increase in the weighted average remaining duration of our contracts from 11 to 14 years will enable us to implement highly competitive financing structures and reinvest these long-term secured funds into an increasing number of profitable projects in the coming years,” Mr. Decostre continued.

    Boralex’s 2030 Strategy is rooted in a long-term value creation perspective, as it will enable targeted investments in projects that will materialize not only over the next five years, but also in following years, replicating the approach adopted in the 2021-2025 Strategic Plan. The 2030 Strategy builds on the significant efforts made over the past five years to create a high-quality development portfolio, enabling us to set fully organic growth targets over which we have greater control. As a result, this approach carries a lower level of risk compared to the previous plan, which relied on an important expected portion coming from mergers and acquisitions.

    Financial Objectives and Main Business Indicators 2025–20303

    100% Organic financial objectives

    • Compound annual growth rate (CAGR)4 of operating income between 12% to 14%, consolidated EBITDA(A)4 between 7% to 9% and combined EBITDA(A)4 between 8% to 10%.
    • CAGR of cash flows related to operating activities per share4 and of discretionary cash flows per share4 between 8% to 10%.

    Main business indicators

    • Total planned investments4 of $6.8 billion plus $1.2 billion for projects scheduled to be commissioned after 2030.
    • Minimum levered internal rate of return (IRR)4 on investments threshold between 10% and 12% adjusted for specific risks by region and technology as well as changes in cost of capital.
    • Payout ratio4 of 20% to 40% of discretionary cash flows.

    “Boralex will continue to grow by applying the same financial discipline that has driven its success in recent years. We will become even more agile by further diversifying our sources of financing. This will include a proactive approach to capital recycling for our most mature assets or those with high value-creation potential, as well as evaluating partnerships for larger-scale projects,” said Bruno Guilmette, Senior Vice President and Chief Financial Officer of Boralex.

    “Our 100% organic financial objectives reflect the high potential of our development pipeline and growth path, which has nearly tripled over the past five years. We are also introducing a new target in this plan: the growth of discretionary cash flows per share—a metric aligned with investor expectations and with the variable compensation of our employees. We are therefore highly confident that these objectives, combined with our discipline, will enable Boralex to maximize value creation for its shareholders and all stakeholders,” Mr. Guilmette added.

    Investor Day 2025

    Boralex presented its 2030 Strategy and objectives to a group of investors, financial analysts, and bankers gathered in Toronto. The presentation was also broadcast live for business partners who were unable to attend in person. On this occasion, the executive team and regional leaders outlined the key elements and financial targets of the 2030 Strategy, the various growth opportunities and outlooks by region and technology, as well as the company’s approach to risk management and sustainability. A replay of the event and all presentation materials are available on Boralex’s website in the Investors section.

    About Boralex

    At Boralex, we have been providing affordable renewable energy accessible to everyone for over 30 years. As a leader in the Canadian market and France’s largest independent producer of onshore wind power, we also have facilities in the United States and in the United Kingdom. Over the past five years, our installed capacity has increased by more than 50% to 3.2 GW. We are developing a portfolio of projects in development and construction of 8 GW in wind, solar and storage projects, guided by our values and our corporate social responsibility (CSR) approach. Through profitable and sustainable growth, Boralex is actively participating in the fight against global warming. Thanks to our fearlessness, discipline, expertise and diversity, we continue to be an industry leader. Boralex’s shares are listed on the Toronto Stock Exchange under the ticker symbol BLX. 

    For more information, visit boralex.com or sedarplus.com. Follow us on Facebook and LinkedIn.

    Non-IFRS and other financial measures

    Performance measures

    In order to assess the performance of its assets and reporting segments, Boralex uses various performance measures. Management believes that these measures are widely accepted financial indicators used by investors to assess the operational performance of a company and its ability to generate cash through operations. The non-IFRS and other financial measures also provide investors with insight into the Corporation’s decision making as the Corporation uses these non-IFRS financial measures to make financial, strategic and operating decisions. It is important to note that the non-IFRS financial measures should not be considered as substitutes for IFRS measures. They are primarily derived from the audited consolidated financial statements, but do not have a standardized meaning under IFRS; accordingly, they may not be comparable to similarly named measures used by other companies. In addition, these non-IFRS financial measures are not audited and have important limitations as analytical tools. Investors are therefore cautioned not to consider them in isolation or place undue reliance on ratios or percentages calculated using these non-IFRS financial measures.

    Non-GAAP financial measures
    Specific financial measure Use Composition Most directly comparable IFRS measure
    Financial data – Combined (all disclosed financial data) To assess the performance and the ability of a company to generate cash from its operations and investments in joint ventures and associates. Results from the combination of the financial information of Boralex Inc. under IFRS and the share of the financial information of the Interests.

    Interests in joint ventures and associates, Share in earnings (losses) of joint ventures and associates and Distributions received from joint ventures and associates are then replaced with Boralex’s respective share in the financial statements of the Interests (revenues, expenses, assets, liabilities, etc.).

    		 Respective financial data –Consolidated
    Discretionary cash flows To assess the cash generated from operations and the amount available for future development or to be paid as dividends to common shareholders while preserving the long-term value of the business. Net cash flows related to operating activities before “change in non-cash items related to operating activities,” less:

    (i) distributions paid to non-controlling shareholders;
    (ii) additions to property, plant and equipment (maintenance of operations);
    (iii) repayments on non-current debt (projects) and repayments to tax equity investors;
    (iv) principal payments related to lease liabilities;
    (v) adjustments for non-operational items; plus
    (vi) development costs (from the statement of earnings).

    		 Net cash flows related to operating activities
    Non-GAAP financial measures – Non-GAAP ratios
    Specific financial measure Use Composition
    Discretionary cash flows per share To assess the amount per share available for future development or to be paid as dividends to common shareholders while preserving the long-term value of the business as well as to assess operating results.

    Financial objective 2030

    		 The discretionary cash flows amount divided by the weighted average number of basic outstanding shares.
    Payout ratio To assess ability to sustain current dividends as well as ability to fund its future development.

    Main business indicator 2030

    		 The amount of dividends paid to shareholders divided by the discretionary cash flows amount.
    Other financial measures – Total of segment measures
    Specific financial measure Most directly comparable IFRS measure
    EBITDA(A) Operating income
    Other financial measures – Total of segment measures
    Specific financial measure Most directly comparable IFRS measure
    Compound annual growth rate (CAGR) The CAGR is a growth rate indicating the annual variation as if the growth had been constant throughout the period for a period of more than one fiscal year.
    Net Cash flows related to operating activities per share

    Financial objective 2030    		 The amount of cash flows from operating activities is divided by the weighted average number of basic outstanding shares.
    Total planned investments

    Main business indicator 2030

    		 Total planned investments represent the sums that will need to be invested to complete the projects up to commissioning.
    Internal rate of return (IRR)

    Main business indicator 2030

    		 The IRR is a profitability indicator that measures the average annual return of an investment, taking into account levered cash flows.


    Assumptions regarding forward-looking information

    Assumptions and risk factors regarding the forward-looking information in our 2030 strategic targets are presented below.

    Assumptions regarding forward-looking information
    Forward-looking information Key assumptions Most relevant risk factors
    2030 Installed capacity Results solely from the contribution of organic projects, excluding the impact of potential merger and acquisition transactions. Lag in commissioning time if obtaining the required permits is more complicated and takes longer than expected and if the Corporation encounters issues related to the availability of materials.
    Weighted average residual duration of contracts 2030 Growth of installed capacity according to the strategic plan and obtaining targeted contracts for new projects that will be commissioned. Delay in the commissioning of organic projects and contractual conditions different from those initially planned.
    Projects under construction Investments, EBITDA(A) and forecasted discretionary cash flows to meet the target IRR of 10% to 12% set by management for projects under construction. Possible variation in construction costs related to the complexity of work, the supply of materials and equipment and availability of labour necessary for the construction of projects.
    2030 Operating Result and EBITDA(A) 2030 Prices of energy sales or feed-in premium contracts, proportion of production sold at market prices, annual anticipated production, cost structures to support growth. Competition in requests for proposals, lag in commissioning time for organic projects and completion of merger and acquisition transactions, price curve volatility and weather conditions impacting the total volume of power generated by the Corporation.
    Cash flow per share 2030 Largely related to the expected EBITDA(A), and to project financing ranging from 70% to 80% of the total planned investment and the number of shares outstanding. Possible fluctuations related to deviations in the expected EBITDA(A) target and market conditions for financing and issuing new equity instruments


    Disclaimer regarding forward-looking statements

    Certain statements contained in this release, including those related to results and performance for future periods, installed capacity targets, EBITDA(A) and discretionary cash flows, the Corporation’s strategic plan, business model and growth strategy, organic growth and growth through mergers and acquisitions, obtaining an investment grade credit rating, payment of a quarterly dividend, the Corporation’s financial targets, the projects commissioning dates, the portfolio of renewable energy projects, the Corporation’s Growth Path, the bids for new storage and solar projects and its Corporate Social Responsibility (CSR) objectives are forward-looking statements based on current forecasts, as defined by securities legislation. Positive or negative verbs such as “will,” “would,” “forecast,” “anticipate,” “expect,” “plan,” “project,” “continue,” “intend,” “assess,” “estimate” or “believe,” or expressions such as “toward,” “about,” “approximately,” “to be of the opinion,” “potential” or similar words or the negative thereof or other comparable terminology, are used to identify such statements.

    Forward-looking statements are based on major assumptions, including those about the Corporation’s return on its projects, as projected by management with respect to wind and other factors, opportunities that may be available in the various sectors targeted for growth or diversification, assumptions made about EBITDA(A) margins, assumptions made about the sector realities and general economic conditions, competition, exchange rates as well as the availability of funding and partners. While the Corporation considers these factors and assumptions to be reasonable, based on the information currently available to the Corporation, they may prove to be inaccurate.

    Boralex wishes to clarify that, by their very nature, forward-looking statements involve risks and uncertainties, and that its results, or the measures it adopts, could be significantly different from those indicated or underlying those statements, or could affect the degree to which a given forward-looking statement is achieved. The main factors that may result in any significant discrepancy between the Corporation’s actual results and the forward-looking financial information or expectations expressed in forward-looking statements include the general impact of economic conditions, fluctuations in various currencies, fluctuations in energy prices, the risk of not renewing PPAs or being unable to sign new corporate PPA, the risk of not being able to capture the US or Canadian investment tax credit, counterparty risk, the Corporation’s financing capacity, cybersecurity risks, competition, changes in general market conditions, industry regulations and amendments thereto, particularly the legislation, regulations and emergency measures that could be implemented for time to time to address high energy prices in Europe, litigation and other regulatory issues related to projects in operation or under development, as well as certain other factors considered in the sections dealing with risk factors and uncertainties appearing in Boralex’s MD&A for the fiscal year ended December 31, 2024.

    Unless otherwise specified by the Corporation, forward-looking statements do not take into account the effect that transactions, non-recurring items or other exceptional items announced or occurring after such statements have been made may have on the Corporation’s activities. There is no guarantee that the results, performance or accomplishments, as expressed or implied in the forward-looking statements, will materialize. Readers are therefore urged not to rely unduly on these forward-looking statements.

    Unless required by applicable securities legislation, Boralex’s management assumes no obligation to update or revise forward- looking statements in light of new information, future events or other changes.

    For more information

    Source: Boralex inc.        

    1 The weighted average remaining duration also includes non-activated contracts for newly commissioned sites.
    2 Installed capacity reflects 100% of Boralex’s subsidiaries in which Boralex is the controlling shareholder. It also reflects Boralex’s share in entities over which it does not have control, and which are accounted for using the equity method.
    3 For more information on the key assumptions and risk factors related to the targets of the 2030 strategic plan, refer to the section Non-IFRS financial measures and other financial measures of this press release.
    4 The compound annual growth rate, cash flows from operating activities per share, total planned investments, and internal rate of return are additional financial measures. The Combined is a non-GAAP financial measure and does not have a standardized definition under IFRS. Therefore, this measure may not be comparable to similar measures used by other companies. Discretionary cash flows per share and the payout ratio are non-GAAP ratios and do not have a standardized definition under IFRS. EBITDA(A) is a total of sector measures. In 2024, net cash flows from operating activities amounted to $411 million, after adjusting to exclude the change in accounts payable related to the inframarginal rent contribution, representing an amount of $196 million. This adjustment primarily reflects a payment made during the third quarter of the fiscal year. The inframarginal rent contribution is no longer applicable in 2025. For more details, refer to the section Non-GAAP Financial Measures and Other Financial Measures in this press release.

    The MIL Network –

  • MIL-OSI: Fengate Asset Management and Tilbury Properties achieve financial close on new student residence in Ontario

    Source: GlobeNewswire (MIL-OSI)

    SARNIA, Ontario, June 17, 2025 (GLOBE NEWSWIRE) — Fengate Asset Management (Fengate), in partnership with Tilbury Properties (Tilbury), today announced financial close on a new student residence at Lambton College in Sarnia. The residence will provide much-needed accommodation to 311 college students when it opens in September 2027.

    Fengate and Tilbury were selected to design, construct, finance, operate, and maintain the new on-campus residence following a competitive procurement process. Fengate is managing the investment on behalf of the Fengate Infrastructure Yield Fund and its affiliated entities, including an investment by LiUNA’s Pension Fund of Central and Eastern Canada.

    Located in the heart of Lambton County, Lambton College is a globally recognized leader in education, innovation, and applied research. As the sole post-secondary institution in the region, the College plays a vital role in the community, driving economic development and diversification, propelling social and environmental innovation, and providing quality education to domestic and international students to ensure a thriving skilled workforce.

    “Fengate looks forward to bringing its deep institutional project experience to this new campus residence to provide modern, sustainable accommodation opportunities to Lambton College students in 2027,” said Mac Bell, Managing Director, Infrastructure Investments at Fengate.

    Fengate delivered and is operating the Emily Carr University of Art + Design in British Columbia (B.C.) – the only specialized post-secondary institution in B.C. In 2023, the firm also completed a public-private partnership bundle of six schools in Prince George’s County, Maryland, to provide state-of-the-art schools and 8,000 new desks for K-8 and middle school students.

    “Tilbury is proud to partner with Lambton College on this exciting new student residence,” said Michael Kaye, Founding Partner at Tilbury. “This thoughtfully designed project will modernize the College’s on-campus housing and support the academic and personal success of students for decades to come.”

    Specializing in purpose-built student accommodation, Tilbury takes a collaborative, hands-on approach with its post-secondary partners. The company prides itself on tailoring each project to meet the unique needs of academic institutions, creating exceptional living and learning environments. In September 2025, Tilbury will open a 452-bed residence and dining hall at the University of Windsor, further demonstrating its leadership in on-campus housing development.

    The new campus residence at Lambton College will incorporate energy-efficient systems and sustainable building materials to minimize environmental footprint and will include landscaped green spaces to enhance the campus environment.

    Construction is scheduled to start later this month.

    About Fengate

    Fengate is a leading alternative investment manager focused on infrastructure, private equity and real estate strategies, with more than $10 billion of capital commitments under management. The firm has been investing in infrastructure since 2006 with a focus on mid-market greenfield and brownfield infrastructure assets in the transportation, social, energy transition and digital sectors. Fengate is one of North America’s most active infrastructure investors and developers with a portfolio of more than 50 assets. Learn more at www.fengate.com.

    About Tilbury

    Tilbury Properties is a Canadian real estate development firm focused on purpose-built student housing. Founded in 2020, the company has over 1,000 student beds in various stages of development, making it one of the leading developers in Canada’s student housing sector. Learn more at www.tilburyprop.com.

    Media Contact

    Maddison Sharples
    Vice President, Communications and Marketing
    Fengate Asset Management
    +1 416-254-3326
    Maddison.Sharples@fengate.com

    The MIL Network –

  • MIL-OSI: Fengate Asset Management and Tilbury Properties achieve financial close on new student residence in Ontario

    Source: GlobeNewswire (MIL-OSI)

    SARNIA, Ontario, June 17, 2025 (GLOBE NEWSWIRE) — Fengate Asset Management (Fengate), in partnership with Tilbury Properties (Tilbury), today announced financial close on a new student residence at Lambton College in Sarnia. The residence will provide much-needed accommodation to 311 college students when it opens in September 2027.

    Fengate and Tilbury were selected to design, construct, finance, operate, and maintain the new on-campus residence following a competitive procurement process. Fengate is managing the investment on behalf of the Fengate Infrastructure Yield Fund and its affiliated entities, including an investment by LiUNA’s Pension Fund of Central and Eastern Canada.

    Located in the heart of Lambton County, Lambton College is a globally recognized leader in education, innovation, and applied research. As the sole post-secondary institution in the region, the College plays a vital role in the community, driving economic development and diversification, propelling social and environmental innovation, and providing quality education to domestic and international students to ensure a thriving skilled workforce.

    “Fengate looks forward to bringing its deep institutional project experience to this new campus residence to provide modern, sustainable accommodation opportunities to Lambton College students in 2027,” said Mac Bell, Managing Director, Infrastructure Investments at Fengate.

    Fengate delivered and is operating the Emily Carr University of Art + Design in British Columbia (B.C.) – the only specialized post-secondary institution in B.C. In 2023, the firm also completed a public-private partnership bundle of six schools in Prince George’s County, Maryland, to provide state-of-the-art schools and 8,000 new desks for K-8 and middle school students.

    “Tilbury is proud to partner with Lambton College on this exciting new student residence,” said Michael Kaye, Founding Partner at Tilbury. “This thoughtfully designed project will modernize the College’s on-campus housing and support the academic and personal success of students for decades to come.”

    Specializing in purpose-built student accommodation, Tilbury takes a collaborative, hands-on approach with its post-secondary partners. The company prides itself on tailoring each project to meet the unique needs of academic institutions, creating exceptional living and learning environments. In September 2025, Tilbury will open a 452-bed residence and dining hall at the University of Windsor, further demonstrating its leadership in on-campus housing development.

    The new campus residence at Lambton College will incorporate energy-efficient systems and sustainable building materials to minimize environmental footprint and will include landscaped green spaces to enhance the campus environment.

    Construction is scheduled to start later this month.

    About Fengate

    Fengate is a leading alternative investment manager focused on infrastructure, private equity and real estate strategies, with more than $10 billion of capital commitments under management. The firm has been investing in infrastructure since 2006 with a focus on mid-market greenfield and brownfield infrastructure assets in the transportation, social, energy transition and digital sectors. Fengate is one of North America’s most active infrastructure investors and developers with a portfolio of more than 50 assets. Learn more at www.fengate.com.

    About Tilbury

    Tilbury Properties is a Canadian real estate development firm focused on purpose-built student housing. Founded in 2020, the company has over 1,000 student beds in various stages of development, making it one of the leading developers in Canada’s student housing sector. Learn more at www.tilburyprop.com.

    Media Contact

    Maddison Sharples
    Vice President, Communications and Marketing
    Fengate Asset Management
    +1 416-254-3326
    Maddison.Sharples@fengate.com

    The MIL Network –

  • MIL-OSI: Intermex and the New York Red Bulls Join Forces to Bring Financial Services to Northeastern Communities Through the Shared Passion for Soccer

    Source: GlobeNewswire (MIL-OSI)

    MIAMI, June 17, 2025 (GLOBE NEWSWIRE) — International Money Express, Inc. (NASDAQ: IMXI) (“Intermex” or the “Company”), a leading money remittance provider to Latin America and the Caribbean, today announced a new official partnership with the New York Red Bulls, one of Major League Soccer’s most dynamic and community-focused clubs. This collaboration brings together two organizations committed to serving and celebrating the diverse cultural richness of the Latino community, using soccer as a powerful platform for connection.

    With over 85 million soccer fans across the United States and Latinos representing nearly 70% of MLS viewership, this partnership with the New York Red Bulls strengthens Intermex’s commitment to remain close to its customers in the northeast region — not only through financial services, but by supporting the sport that represents identity, family, and tradition for millions of Latino households.

    “Intermex was built by Latinos for Latinos. Partnering with the New York Red Bulls allows us to engage directly with the vibrant northeast latin communities we proudly serve, in one of the most culturally diverse regions in the world,” said Marcelo Theodoro, Chief Product, Marketing & Digital Officer at Intermex. “NY Red Bulls represents the cutting edge of the sport, This partnership demonstrates Intermex’s ambition to expand, grow, and redefine what it means to move money and provide financial services with meaning in the digital age.”

    “The Red Bulls and Sports Illustrated Stadium are proud to welcome Intermex to our club and venue,” said Scott Epstein, Head of Corporate Partnerships, New York Red Bulls. “As valued partners, we both pride ourselves on the exceptional customer and fan experience we strive to deliver.”

    Through this partnership, Intermex and the New York Red Bulls will collaborate on in-stadium activations, community outreach events, and cultural initiatives that spotlight the passion, pride, and identity that soccer brings to Latino families across the Tri-State area.

    About Intermex
    Founded in 1994, Intermex applies proprietary technology to enable consumers to send money from the United States, Canada, Spain, Italy, the United Kingdom, and Germany to more than 60 countries. The company facilitates digital money movement through its website and mobile app, as well as through a vast network of retail agents and company-operated stores. Headquartered in Miami, Florida, Intermex also operates international offices in Puebla, Mexico; Guatemala City, Guatemala; London, England; and Madrid, Spain. Learn more at www.intermexonline.com.

    About New York Red Bulls
    The New York Red Bulls are one of 29 teams in Major League Soccer (MLS). The club is owned by the global energy drink and media company Red Bull GmbH and plays its home matches at Red Bull Arena in Harrison, New Jersey. Since joining MLS as a founding member in 1996, the Red Bulls have won three Supporters’ Shields, earned multiple playoff appearances, and continue to serve as a leader in youth development through its Academy system. The club is deeply committed to connecting with the diverse communities of the New York and New Jersey metro area through soccer, community programs, and fan engagement. For more information, visit www.newyorkredbulls.com.

    Investor Relations Contact:
    Alex Sadowski
    Investor Relations Coordinator
    ir@intermexusa.com
    305-671-8000

    The MIL Network –

  • MIL-OSI: Coralogix Raises $115M E Round at $1B+ Valuation to Advance AI-Powered Observability

    Source: GlobeNewswire (MIL-OSI)

    BOSTON, June 17, 2025 (GLOBE NEWSWIRE) — Coralogix, a leading full-stack observability platform provider, today announced a $115 million Series E funding round. The round was led by NewView Capital, a California-based venture growth firm, with participation of the Canada Pension Plan Investment Board (CPPIB) and NextEquity, the venture firm founded by former Apple executives Avie Tevanian and Fred Anderson. The round brings Coralogix’s valuation to over $1 billion.

    All existing investors — including Advent International, Brighton Park Capital, Revaia, Greenfield Partners, Red Dot Capital Partners, O.G. Tech, Joule Capital Partners, and Maor Investments — also returned to support Coralogix’s continued growth and leadership in AI observability.

    Coralogix today announced its new AI agent Olly, the centerpiece of the company’s initiative to extend the value of observability across the enterprise. While traditional observability tools have helped DevOps teams diagnose and troubleshoot system behavior, Olly takes a fundamentally different, agentic approach – actively guiding users through questions, surfacing insights, and recommending next steps. By allowing both technical and non-technical users to access Observability insights, Olly transforms observability into an intelligent system that drives better, faster decisions across the business.

    The announcements follow the company’s December 2024 acquisition of Aporia, an AI observability and guardrails innovator; and the recent launch of Coralogix AI Center, the first AI observability platform that provides insights not only into performance, but also the quality, security and governance of its responses.

    “This funding round accelerates our momentum and helps us push the boundaries of AI-driven observability, enabling smarter decisions and faster innovation across the business,” said Ariel Assaraf, CEO and Co-founder of Coralogix.

    “As we expand our full-stack Observability & Security platform, this round will help us in accelerating the building of the Coralogix AI research center where engineers are already working on how data will be accessed and analyzed in the future,” said Yoni Farin, CTO and Co-founder of Coralogix.

    About Coralogix
    Coralogix is a full-stack observability platform that enables businesses to monitor and manage data in real time, providing instant insights without the need for indexing. The platform supports Log Analytics, application performance monitoring (APM), security information and event management (SIEM), real user monitoring (RUM), and infrastructure monitoring, offering complete visibility into AI performance, security, and governance in a single solution. Coralogix offers a simple pricing model based on data volume, along with world-class support that ensures rapid response times and swift resolutions. To learn more, visit www.coralogix.com.

    PR Contact
    Mark Prindle
    Fusion PR
    mark.prindle@fusionpr.com

    The MIL Network –

  • MIL-OSI USA: UConn to Host 57th North American Power Symposium (NAPS)

    Source: US State of Connecticut

    The University of Connecticut has been selected to host the 57th North American Power Symposium (NAPS), an annual conference mainly sponsored by the Institute of Electrical and Electronics Engineers (IEEE) and the National Science Foundation (NSF). The event will be held in October 2025 at Hartford Marriott Downtown, and for the first time will be co-organized with the Clean Energy Summit, an annual gathering organized by UConn’s Eversource Energy Center in partnership with Eversource Energy.

    The selection of UConn as the host institution was the result of a competitive proposal process in 2022, completed by Professor Zongjie Wang, associate director from the Eversource Energy Center, who will serve as the general chair for NAPS 2025. She will be joined by Professor Diego Cerrai, the interim director of the Eversource Energy Center, who will serve as co-chair.

    Zongjie Wang, associate director, Eversource Energy Center, will serve as the general chair for NAPS 2025 (UConn Photo)

    “NAPS has always been a student-centered conference, and for 2025 we are expanding that mission with new undergraduate-focused awards and international student engagement,” says Wang. “In past years, we have successfully supported many UConn undergraduate students to attend NAPS, where some have won Best Paper and Best Presentation awards.”

    Wang says she has seen, firsthand, how influential and valuable this platform is in shaping student careers.

    “Whether by building confidence, showcasing their research, or opening doors to internships and job offers in the energy sector, this conference provides great value for UConn and our students,” Wang adds. “As the general chair of NAPS 2025, I am committed to further expanding these opportunities by introducing additional undergraduate awards and building stronger academic/industry connections to attract a broader and more diverse pool of future power engineers.”

    Founded in 1969, NAPS is one of the longest-running power engineering conferences in North America, drawing students, faculty, and professionals from across the United States, Canada, and abroad. It serves as a launchpad for emerging scholars and a convening ground for frontier research in power systems, electric grid operations, renewable energy integration, and distribution-transmission coordination. The 2025 NAPS in Hartford will feature paper presentations, poster sessions, panel discussions, technical tutorials, and industry networking opportunities.

    NAPS 2025 will maintain its core academic focus on power systems research while creating stronger bridges to industry. UConn’s College of Engineering (CoE) enhances student experiences through new networking opportunities, career panels, and mentorship sessions involving local, regional, and national partners. The Clean Energy Summit component will showcase innovations in grid modernization, grid resilience, and workforce development, highlighting Connecticut’s leadership in energy policy and utility engagement.

    According to Emmanouil Anagnostou, executive director of UConn Tech Park, integrating the Clean Energy Summit with NAPs further establishes UConn’s key role as a leader in promoting energy conservation, utilization and research.

    “This combined event reflects UConn’s growing role as a regional hub for clean-energy research and workforce development through the Eversource Energy Center, which serves as a bridge between academic research and practical deployment across New England’s energy infrastructure,” Anagnostou says. “The summit will feature the third cohort of students participating in the Eversource-sponsored Clean Energy and Sustainability Innovation Program (CESIP). As part of this program, students research and design solutions centered around a UConn campus-focused initiative or to assist a Connecticut municipality reach their sustainable energy goals.”

    Further details—including speaker announcements, program schedule, and registration—will be posted at the official NAPS 2025 website: Summary – 57th North American Power Symposium 2025. Registration is now open.

    MIL OSI USA News –

  • MIL-OSI Security: Eastern Passage — RCMP warning of cryptocurrency investment scam

    Source: Royal Canadian Mounted Police

    RCMP Halifax Regional Detachment is warning the public about a cryptocurrency investment scam reported in Eastern Passage.

    On June 13, RCMP officers responded to a report of fraud. Investigators learned that a man was contacted through email and then via a social media app to invest in cryptocurrency. The victim was defrauded more than $150,000.

    Cryptocurrency scams are becoming more common and often appear to be legitimate investment platforms. RCMP officers stress the importance of due diligence when considering investment opportunities.

    Avoid becoming a victim:

    • Be cautious: Be wary of anyone offering high-reward, low-risk investment opportunities. If it sounds too good to be true, it’s probably a scam.
    • Do your research: Take the time to investigate an investment opportunity. Anyone who trades or advises on securities in Nova Scotia must be registered with the Nova Scotia Securities Commission (NSSC). If someone isn’t registered with the NSSC or another Canadian securities regulator, it’s likely they’re a scammer.
    • Get advice: Remember that in Canada, cryptocurrencies are currently unregulated and aren’t covered by the Canada Deposit Insurance Corp. When in doubt, seek advice from a reputable financial institution.

    If you or someone you know is a victim of investment fraud, report it to your local police and the Canadian Anti-Fraud Centre.

    File #: 25-83549

    MIL Security OSI –

  • MIL-OSI United Kingdom: Iran-Israel conflict: Foreign Secretary’s statement

    Source: United Kingdom – Executive Government & Departments 3

    Oral statement to Parliament

    Iran-Israel conflict: Foreign Secretary’s statement

    The Foreign Secretary made a statement to the House of Commons on 16 June 2025, updating on the Israel-Iran conflict.

    With permission, Mr Speaker, I will remind the House that the Foreign Office has been responding to 2 crises this past week.

    My Honourable Friend, Minister Falconer, will update on the Government’s extensive efforts to assist those who lost loved ones in Thursday’s devastating Air India plane crash.

    Just 9 days ago, I was in Delhi, strengthening our friendship. Our nations are mourning together. My thoughts are with all those suffering such terrible loss.

    With permission, Madam Deputy Speaker, I will now turn to the Middle East. Early last Friday morning, Israel launched extensive strikes across Iran. Targets including military sites, including the Iranian enrichment facility at Natanz, and key commanders and nuclear scientists.

    The last 72 hours has seen Iranian ballistic missile and drone strikes across Israel, killing at least 21 Israelis and injuring hundreds more. And Israeli strikes have continued, including on targets in Tehran, with the Iranian authorities reporting scores of civilian casualties. 

    Prime Minister Netanyahu has said his operations will “continue for as many days as it takes to remove the threat”. Supreme Leader Khameini has said Israel “must expect severe punishment”.

    Madam Deputy Speaker, in such crisis our first priority is of course the welfare of British nationals. On Friday, we swiftly stood up a crisis team in London and the region, and yesterday I announced that we now advise against all travel to Israel as well as our long-standing travel of not travelling to Iran.

    Madam Deputy Speaker, today I can update the House that we are asking all British nationals in Israel to register their presence with the FCDO, so that we can share important information on the situation and leaving the country.

    And I can announce today that we are further updating our Travel Advice to signpost border crossing points, and sending Rapid Deployment Teams to Egypt and Jordan to bolster our consular presence near the border with Israel, which has already been supporting British nationals on the ground.

    Israel and Iran have closed their airspace until further notice, and our ability therefore to provide support in Iran is extremely limited. British nationals in the region should closely monitor our Travel Advice for further updates.

    Madam Deputy Speaker, the situation remains fast-moving. We expect more strikes in the days to come. This is a moment of grave danger for the region.

    I want to be clear, the United Kingdom was not involved in the strikes against Iran. This is a military action conducted by Israel.

    It should come as no surprise that Israel considers the Iranian nuclear programme an existential threat. Khameini said in 2018 that Israel was a “cancerous tumour” that should be “removed and eradicated”.

    We have always supported Israeli security – that’s why Britain has sought to prevent Iran obtaining a nuclear weapon through extensive diplomacy. We agree with President Trump when he says negotiations are necessary and must lead to a deal.

    That has long been the view, Mr Speaker, of the so-called ‘E3’ – Britain, France and Germany – with whom we have worked so closely on this issue. The view of all of the G7 who have backed the efforts of President Trump’s envoy, Steve Witkoff. And for more than 2 decades, the cross-party view in this House.

    Lord Cameron of Chipping Norton and Lord Hague of Richmond led diplomatic efforts on the issue. Baroness May of Maidenhead and the former Right Honourable Member for Uxbridge did too, and this Government has continued to pursue negotiations, joining France and Germany in 5 rounds of talks with Iran this year alone.

    Ours is a hard-headed realist assessment of how best to tackle this grave threat. Fundamentally, no military action can put and end to Iran’s nuclear capabilities.

    Madam Deputy Speaker, just last week, the International Atomic Energy Agency Board of Governors passed a non-compliance resolution against Iran, the first such IAEA finding in 14 years.

    The Director-General’s Comprehensive Report details Iran’s failure to declare nuclear materials. Iran remains the only state without nuclear weapons accumulating uranium at such dangerously high levels. Its total enriched stockpile is now 40 times the limit in the JCPoA, and their nuclear programme is part of a wider pattern of destabilising activity.

    The Government has taken firm action in response. When they transferred ballistic missiles for use in Russia’s illegal war in Ukraine, we imposed extensive sanctions including against Iran Air, and cancelled our bilateral air services agreement.

    In the face of unacceptable IRGC threats here in the UK – with some 20 foiled plots since 2022 – the CPS has for the first time charged Iranian nationals under the National Security Act, and we have placed the Iranian state, including the IRGC, on the enhanced tier of the new Foreign Influence Registration Scheme.

    Madam Deputy Speaker, a widening war would have grave and unpredictable consequences, including for our partners in Jordan and the Gulf. The horrors of Gaza worsening, tensions in Lebanon, Syria and Iraq rising, the Houthi threat continuing.

    That’s why the Government’s firm view, as it was last October in the ballistic missile attack on Israel, is that further escalation in the Middle East is not in Britain’s interests, nor the interests of Israel, Iran or the region.

    There are hundreds of thousands of British nationals living in the region. And with Iran a major oil producer, and one fifth of total world oil consumption flowing through the Straits of Hormuz, escalating conflict poses real risks for the global economy.

    As missiles rain down, Israel has a right to defend itself and its citizens. But our priority now is de-escalation.

    Our message to both Israel and Iran is clear. Step back. Show restraint. Don’t get pulled ever deeper into a catastrophic conflict, whose consequences nobody can control.

    Madam Deputy Speaker, the Prime Minister chaired COBR on the situation last Friday and spoke to PM Netanyahu, President Trump and Saudi Crown Prince Mohammed bin Salman. He is now at the G7 Summit in Canada, discussing with our closest allies how to ease tensions.

    And the Government has deployed additional assets to the region, including jets for contingency support to UK forces and potentially our regional allies concerned about the escalating conflict.

    In the last 72 hours, my Honourable Friend the Minister for the Middle East and I have been flat out trying to carve out space for diplomacy. I have spoken to both Israeli Foreign Minister Sa’ar and Iranian Foreign Minister Araghchi, underlining Britain’s focus on de-escalation.

    I have also met Saudi Foreign Minister Prince Faisal. I’ve had calls with US Secretary Rubio, EU High Representative Kallas and my counterparts from France and Germany, the United Arab Emirates, Qatar, Oman, Jordan, Turkey and Iraq. These conversations are part of a collective drive to prevent a spiralling conflict.

    Madam Deputy Speaker, this new crisis has arisen as the appalling situation in Gaza continues. This weekend, hospitals in Gaza reported over 50 people were killed and more than 500 injured while trying to access food.

    This Government will not take our eye off the humanitarian catastrophe in Gaza. We will not stop calling for aid restrictions to be lifted and an immediate ceasefire. We will not forget about the hostages.

    This morning, I met Yocheved Lifschitz and her family, whose courage and dignity in the face of Hamas’ barbarism was a reminder of the plight of those still cruelly held in Gaza. We will not stop striving to free the hostages and end that war.

    Madam Deputy Speaker, our vision remains unchanged. An end to Iran’s nuclear programme and destabilising regional activity. Israel, secure in its borders and at peace with its neighbours. A sovereign Palestinian state, as part of the two-state solution.

    Diplomacy is indispensable to each of these goals. Britain will keep pressing all sides to choose a diplomatic path out of this crisis.

    I commend this statement to the House.

    Updates to this page

    Published 16 June 2025

    MIL OSI United Kingdom –

  • MIL-OSI: Draganfly’s Commander 3XL Integrated with TB2 Aerospace’s DROPS System Achieves 100% Success Rate During U.S. Army’s SMEX25 Operational Trials

    Source: GlobeNewswire (MIL-OSI)

    In alignment with the Presidential Executive Order “Unleashing American Drone Dominance”

    Golden, CO, June 17, 2025 (GLOBE NEWSWIRE) — TB2 Aerospace LLC, in collaboration with Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO) (FSE: 3U8A) (“Draganfly” or the “Company”), a drone solutions, and systems developer, (NASDAQ: DPRO), is proud to announce the successful deployment and performance of the Drone Recharging Operational Payload System (DROPS) during the U.S. Army’s Sustainment Modernization Experiment 2025 (SMEX25).

    Throughout SMEX25’s week-long field exercises, the DROPS system, integrated with Draganfly’s Commander 3XL, achieved a 100% success rate in autonomously deploying, recovering, and recharging TB2’s tactical resupply pods. The event provided an opportunity to validate real-world operational performance in austere and high-demand scenarios, drawing praise from defence evaluators and technology observers alike.

    “The successful deployment of DROPS at SMEX25 underscores our commitment to advancing autonomous logistics solutions,” said Hank Scott, CEO of TB2 Aerospace. “Our system’s performance in a live operational environment validates its potential to revolutionize military tactical resupply and contested logistics.”

    He added, “The successful integration of the Commander 3XL and DROPS in support of the U.S. Army’s mission is a great example of the advantage we strive to bring to our partners and their stakeholders.”

    Key Capabilities Demonstrated:

    • Autonomous Payload Operations: The Commander 3XL, enabled with DROPS, autonomously captured, transported, and delivered payloads without any manual intervention, streamlining tactical resupply and significantly reducing the need for human logistics support in the field.
    • Platform Agnosticism: DROPS functioned seamlessly across various platforms, confirming its plug-and-play versatility, with special emphasis on its integration with Draganfly’s Commander 3XL platform. The Draganfly 3XL is now ‘DROPS Enabled’, whilst the smaller Draganfly Apex and the larger Heavy Lift are in the process of becoming DROPS Enabled.

    About Draganfly

    Draganfly Inc. (NASDAQ: DPRO; CSE: DPRO; FSE: 3U8A) is a pioneer in drone solutions, AI-driven software, and robotics. With over 25 years of innovation, Draganfly has been at the forefront of drone technology, providing solutions for public safety, agriculture, industrial inspections, security, mapping, and surveying. The Company is committed to delivering efficient, reliable, and industry-leading technology that helps organizations save time, money, and lives.

    Media Contact

    media@draganfly.com

    Company Contact
    Cameron Chell
    Chief Executive Officer
    (306) 955-9907
    Email: info@draganfly.com

    About TB2 Aerospace

    Founded in 2020, TB2 Aerospace is a U.S.-based defence technology innovator developing autonomous logistics and tactical payload systems. The company’s flagship solution, DROPS, is a modular, reconfigurable payload delivery system designed to extend and enhance the operational capabilities of unmanned systems in defense, disaster response, and homeland security applications.

    Annabel Mead
    Communications and Marketing Consultant
    Canny Comms
    ✉ annabel@canny-comms.co.uk

    Partnership Inquiries
    Hank Scott
    Chief Executive Officer, TB2 Aerospace
    ✉ hank@tb2aerospace.com

    Visit www.tb2aerospace.com for more information.

    Forward Looking Statements

    Forward-Looking Statements

    This release contains certain “forward looking statements” and certain “forward-looking ‎‎‎‎information” as ‎‎‎‎defined under applicable securities laws. Forward-looking statements ‎‎‎‎and information can ‎‎‎‎generally be identified by the use of forward-looking terminology such as ‎‎‎‎‎“may”, “will”, “expect”, “intend”, ‎‎‎‎‎“estimate”, “anticipate”, “believe”, “continue”, “plans” or similar ‎‎‎‎terminology. Forward-looking statements ‎‎‎‎and information are based on forecasts of future ‎‎‎‎results, estimates of amounts not yet determinable and ‎‎‎‎assumptions that, while believed by ‎‎‎‎management to be reasonable, are inherently subject to significant ‎‎‎‎business, economic and ‎‎‎‎competitive uncertainties and contingencies. Forward-looking statements ‎‎‎‎include, but are not ‎‎‎‎limited to, statements with respect to DROPS being a game-changing force multiplier for the Department of Defence and its allies as well as Draganfly’s ability to enable DROPS on the Draganfly Apex and the larger Heavy Lift. Forward-‎‎‎‎looking statements and information are subject to various ‎known ‎‎and unknown risks and ‎‎‎‎‎uncertainties, many of which are beyond the ability of the Company to ‎control or ‎‎predict, that ‎‎‎‎may cause ‎the Company’s actual results, performance or achievements to be ‎materially ‎‎different ‎‎‎‎from those ‎expressed or implied thereby, and are developed based on assumptions ‎about ‎‎such ‎‎‎‎risks, uncertainties ‎and other factors set out here in, including but not limited to: the potential ‎‎‎‎‎‎‎impact of epidemics, ‎pandemics or other public health crises, including the ‎COVID-19 pandemic, on the Company’s business, operations and financial ‎‎‎‎condition; the ‎‎‎successful integration of ‎technology; the inherent risks involved in the general ‎‎‎‎securities markets; ‎‎‎uncertainties relating to the ‎availability and costs of financing needed in the ‎‎‎‎future; the inherent ‎‎‎uncertainty of cost estimates; the ‎potential for unexpected costs and ‎‎‎‎expenses, currency ‎‎‎fluctuations; regulatory restrictions; and liability, ‎competition, loss of key ‎‎‎‎employees and other related risks ‎‎‎and uncertainties disclosed under the ‎heading “Risk Factors“ ‎‎‎‎in the Company’s most recent filings filed ‎‎‎with securities regulators in Canada on ‎the SEDAR ‎‎‎‎website at www.sedar.com and with the United States Securities and Exchange Commission (the “SEC”) on EDGAR through the SEC’s website at www.sec.gov. The Company undertakes ‎‎‎no obligation to update forward-‎looking ‎‎‎‎information except as required by applicable law. Such forward-‎‎‎looking information represents ‎‎‎‎‎managements’ best judgment based on information currently available. ‎‎‎No forward-looking ‎‎‎‎statement ‎can be guaranteed and actual future results may vary materially. ‎‎‎Accordingly, readers ‎‎‎‎are advised not to ‎place undue reliance on forward-looking statements or ‎‎‎information.‎

    The MIL Network –

  • MIL-OSI USA: DHS Bolsters America’s Supply Chains, Critical Infrastructure, and Domestic Industry Through Arctic ICE Pact

    Source: US Federal Emergency Management Agency

    Headline: DHS Bolsters America’s Supply Chains, Critical Infrastructure, and Domestic Industry Through Arctic ICE Pact

    epresentatives from the Department of Homeland Security (DHS) met with Canadian and Finnish counterparts as part of a two-day summit for the ongoing Icebreaker Collaboration Effort (ICE Pact), a trilateral agreement to strengthen United States supply chains, increase domestic jobs, and improve U

    S

    shipbuilding capabilities to defend the American people

    “ICE Pact is a key component of America’s economic future

    President Donald Trump and U

    S

    Homeland Security Secretary Kristi Noem understand that economic security is national security,” said Assistant Secretary Tricia McLaughlin

    “By revitalizing U

    S

    shipyards, creating jobs, strengthening industrial capabilities, and opening up the Arctic’s vast potential to American businesses, the Trump administration is putting America’s prosperity and security first

    ” 
    During the two-day event, government leaders discussed with public and private stakeholders plans to advance four key areas: technical expertise and information exchange; workforce development; relations with allies and industry; and research and development

    The three partner countries concluded this successful meeting with a commitment to reconvene in person by the end of the year for a meeting hosted by the U

    S

    government

    Icebreakers are vital for America’s presence in the Arctic, a region increasingly contested by Russia and China due to its growing potential for oil and gas exploration, critical minerals, trade route traffic, fishing, and tourism

    Russia maintains the largest icebreaker fleet in the world with 40-plus icebreakers and has made the Arctic its top naval priority; China is rapidly expanding its presence in this field as well and is collaborating with Russia on Arctic expansion efforts

    In contrast, until last month, the United States Coast Guard operated just two icebreakers

    In late May, the U

    S

    Coast Guard Cutter Storis began its maiden voyage to the Arctic

    ICE Pact will steer more investment into U

    S

    industry to boost our icebreaker fleet

    Plans developed during ICE Pact meetings will allow the U

    S

    , Canada, and Finland to build American-made Arctic and polar icebreakers

    ###

    MIL OSI USA News –

  • MIL-OSI United Kingdom: Boost to UK defence and trade as Carrier Strike Group arrives in the Indo-Pacific

    Source: United Kingdom – Executive Government & Departments

    Press release

    Boost to UK defence and trade as Carrier Strike Group arrives in the Indo-Pacific

    Port visits to Singapore, Indonesia, Japan, and Republic of Korea will boost UK trade and defence cooperation

    UK security and growth has received a boost as the UK-led international Carrier Strike Group (CSG25) began operations in the Indo-Pacific.

    Led by the aircraft carrier, HMS Prince of Wales, CSG25 has undertaken a joint exercise with the Indian Navy, deepening the UK’s defence relationship with a key strategic partner ahead of a port visit to India later this year. 

    The deployment, known as Operation Highmast, includes ships from Canada, Norway and Spain, and has now been joined by a New Zealand Frigate, HMNZS Te Kaha, after entering the Indian Ocean, having passed through the Red Sea. 

    The task group, which left the UK in April, previously completed exercises in the Mediterranean. 

    Minister for the Armed Forces, Luke Pollard said:  

    I am delighted that our Carrier Strike Group and 4,000 Service Personnel, are now operating in the Indo-Pacific region. Working with our Allies and partners, to keep Britain secure at home and strong abroad. 

    This isn’t just about hard power; the upcoming exercises and port visits are about building influence and boosting trade opportunities both for defence and other sectors of our economy which will deliver British jobs and growth, and delivers on the Government’s Plan for Change.

    Commodore James Blackmore, Commander CSG said:  

    The deployment sends a powerful message that the UK and its allies are committed to security and stability in the Indo-Pacific region. It’s a privilege to lead our sailors, marines, soldiers and aircrew as we demonstrate warfighting capability.

    Over the next few months, CSG25 will join British Army and Royal Air Force units to participate in Exercise Talisman Sabre 2025, the Australian-led multinational exercise involving US and many other regional partners. This major exercise builds towards full operational capability of the UK’s carrier strike capability.  

    With two F-35B squadrons embarked, the RAF and Royal Navy are set to redefine the landscape of naval air power, in a move to warfighting readiness in support of NATO, while reinforcing Britain’s commitment to security in the Indo-Pacific region. 

    Port visits to Singapore, Indonesia, Japan and the Republic of Korea will showcase British defence capabilities through trade demonstrations and fairs, directly supporting the Government’s Plan for Change through economic growth. A port visit to Darwin, Australia, provides an opportunity to further develop the AUKUS partnership between Australia, the UK and the United States. 

    The Carrier Strike Group will also host the prestigious Pacific Future Forum in Japan, bringing together defence, security and technology leaders from across the region to discuss shared challenges. 

    The deployment follows the Prime Minister’s historic commitment to increase defence spending to 2.6% of GDP, demonstrating the Government’s commitment to keep the UK secure at home and strong abroad. 

    Keeping the country safe is the Government’s first priority and is the foundation of its Plan for Change. The strength, capability and global reach of the Royal Navy, British Army, and Royal Air Force, demonstrated through Operation Highmast, is critical to the security and stability of the UK, supporting the delivery of the Government’s five missions.

    Updates to this page

    Published 17 June 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: UN Human Rights Council 59: Sri Lanka Core Group statement for the Interactive Dialogue on the High Commissioner’s Annual Report

    Source: United Kingdom – Executive Government & Departments

    Speech

    UN Human Rights Council 59: Sri Lanka Core Group statement for the Interactive Dialogue on the High Commissioner’s Annual Report

    Sri Lanka Core Group statement for the Interactive Dialogue on the High Commissioner’s Annual Report. Delivered by the UK’s Human Rights Ambassador, Eleanor Sanders.

    Thank you Mr President,  

    This statement is on behalf of the Sri Lanka Core Group comprising Canada, Malawi, Montenegro, North Macedonia, and the United Kingdom.   

    High Commissioner,

    We are grateful for your office’s work on Sri Lanka.

    We welcome the holding of local elections in Sri Lanka in May and note the more peaceful approach taken this year towards events commemorating the loss of life at the end of the armed conflict in 2009.

    At the same time, we remain concerned by the Government’s limited progress in fulfilling its commitments on human rights, accountability, reconciliation, good governance and constitutional reform.

    We urge the Government to address longstanding impunity and to ensure that journalists, human rights defenders and civil society organisations can operate freely and safely. It is crucial that an inclusive and comprehensive reconciliation and accountability process has the confidence of affected communities.

    We are concerned with the continued application of the Prevention of Terrorism Act, despite the Government’s stated intention to abolish it.

    Furthermore, we urge the Government to address the many unresolved cases of enforced disappearance by reinvigorating the Office on Missing Persons.

    We reaffirm our willingness to work constructively with the Government on these issues.    Thank you.

    Updates to this page

    Published 17 June 2025

    MIL OSI United Kingdom –

  • U.S. Hints at Direct Talks with Iran as Israel Intensifies Airstrikes

    Source: Government of India

    Source: Government of India (4)

    U.S. President Donald Trump said he wanted a “real end” to the nuclear problem with Iran and indicated he may send senior American officials to meet with the Islamic Republic as the Israel-Iran air war raged for a fifth straight day.

    He made the comments during his midnight departure from Canada, where he attended the Group of Seven nations summit on Monday, according to comments posted by a CBS News reporter on social media platform X.

    Trump predicted that Israel would not be easing its attacks on Iran. “You’re going to find out over the next two days. You’re going to find out. Nobody’s slowed up so far,” the CBS journalist quoted Trump as saying on Air Force One.

    He said “I may”, on the prospect of sending U.S. Middle East Envoy Steve Witkoff or Vice President JD Vance to meet with Iran.

    Trump is looking for a “complete give up” by Iran, according to a pool report by Politico.

    Washington has said Trump was still aiming for a nuclear deal with Iran, even as the military confrontation unfolds.

    World leaders meeting at the Group of Seven summit called for a de-escalation of the worst-ever conflict between the regional foes, saying Iran was a source of instability and must never have a nuclear weapon while affirming Israel’s right to defend itself.

    Trump, who left the summit early due to the Middle East situation, said his departure had “nothing to do with” working on a deal between Israel and Iran after French President Emmanuel Macron said the U.S. had initiated a ceasefire proposal.

    “Wrong! He has no idea why I am now on my way to Washington, but it certainly has nothing to do with a Cease Fire. Much bigger than that,” Trump wrote on his Truth Social platform late on Monday.

    Israel launched its air war with a surprise attack that has killed nearly the entire top echelon of Iran’s military commanders and its leading nuclear scientists. It says it now has control of Iranian airspace and intends to escalate the campaign in the coming days.

    Trump has consistently said the Israeli assault could end quickly if Iran agreed to U.S. demands that it accept strict curbs on its nuclear programme.

    “Simply stated, IRAN CAN NOT HAVE A NUCLEAR WEAPON. I said it over and over again! Everyone should immediately evacuate Tehran!” Trump said on Monday.

    Iran’s Revolutionary Guards said on Tuesday that a “more powerful” new wave of missiles was recently launched towards Israel, the state news agency reported. A senior Iranian army commander said a new wave of drones would hit Israel.

    Three people were killed and four injured in Iran’s central city of Kashan in an Israeli attack, Iran’s Nournews reported on Tuesday.

    EXPLOSIONS, AIR DEFENCE FIRE

    Iranian media also reported explosions and heavy air defence fire in Tehran early on Tuesday, with smoke rising in the city’s east after an explosion of suspected Israeli projectiles. Air defences were activated also in Natanz, home to key nuclear installations 320 km (200 miles) away, the Asriran news website reported.

    Doctors and nurses have been recalled from leave to carry out their duties, Iranian media reported.

    Khorramabad city MP Reza Sepahvand told the Iranian labour news agency that most incidents happening in Iran are due to “infiltrators” rather than direct action from Israel, adding that 21 people were killed in the western province of Lorestan.

    World oil markets are on high alert for any developments in the conflict that could hit global supply.

    A shipping incident near the Strait of Hormuz, off the coast of the United Arab Emirates early on Tuesday morning was not security related but a result of ships colliding. The UAE coast guard said it had evacuated 24 people from oil tanker ADALYNN following a collision between two ships in the Gulf of Oman, near Hormuz. About a fifth of the world’s total oil consumption passes through the waterway.

    Naval sources have told Reuters that electronic interference with commercial ship navigation systems has surged in recent days around the Strait of Hormuz and the wider Gulf, which is having an impact on vessels sailing through the region.

    Israel’s military said on Tuesday that it killed Iran’s wartime chief of staff. Israel also said it carried out extensive strikes on Iranian military targets including weapons storage sites and missile launchers.

    Iranian officials have reported 224 deaths, mostly civilians, while Israel said 24 civilians had been killed. Israeli Finance Minister Bezalel Smotrich said nearly 3,000 Israelis had been evacuated due to damage from Iranian strikes.

    Sources told Reuters that Tehran had asked Oman, Qatar and Saudi Arabia to urge Trump to pressure Israeli Prime Minister Benjamin Netanyahu to agree to an immediate ceasefire. In return, Iran would show flexibility in nuclear negotiations, according to two Iranian and three regional sources.

    CHINESE URGED TO LEAVE ISRAEL

    “If President Trump is genuine about diplomacy and interested in stopping this war, next steps are consequential,” Iranian Foreign Minister Abbas Araqchi said on X. “Israel must halt its aggression, and absent a total cessation of military aggression against us, our responses will continue.”

    Iran denies seeking nuclear weapons and has pointed to its right to nuclear technology for peaceful purposes, including enrichment, as a party to the Nuclear Non-Proliferation Treaty.

    Israel, which is not a party to the NPT, is the only country in the Middle East widely believed to have nuclear weapons. Israel does not deny or confirm that.

    With security concerns growing and Israeli airspace closed because of the war, the Chinese embassy in Israel urged its citizens to leave the country via land border crossings as soon as possible.

    The conflict escalated on Monday with Israel attacking Iran’s uranium enrichment facilities.

    Rafael Grossi, head of the International Atomic Energy Agency, told the BBC that the Natanz plant sustained extensive damage, likely destroying 15,000 centrifuges, while Iran’s Fordow plant remained largely intact.

    (Reuters) 

  • MIL-OSI: Prospera Energy Announces Operations Update

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, June 17, 2025 (GLOBE NEWSWIRE) — Prospera Energy Inc. (TSX.V: PEI, OTC: GXRFF) (“Prospera”, “PEI” or the “Corporation”)

    Prospera Energy remains committed to providing stakeholders with transparent, timely, and data-driven updates on operational performance and field developments. This monthly report delivers key insights into the company’s production trends, optimization initiatives, and strategic advancements. All production figures represent the Company’s gross sales, reported in accordance with NI 51-101 and applicable industry standards.

    Prospera continues to demonstrate strong operational performance, averaging gross production of 880 boe/d (94% oil) from June 1st to June 15th. This sustained growth follows successful spring break-up maintenance, Cuthbert water tank repairs, and extensive well optimizations completed in late May after lease roads dried up and became accessible. This marks the sixth consecutive operations update reporting production growth. Notably, these figures exclude production from the recently acquired White Tundra Petroleum assets, which is pending acceptance by the TSXV. A comprehensive well-by-well analysis and waterflood optimization review have yielded valuable insights, which are being actively implemented throughout the summer. Concurrently, Prospera’s service rig is diligently addressing the company’s inventory of over 150 workover and reactivation wells across its heavy oil properties, further enhancing operational efficiency.

    Western Canadian Select (WCS) differentials continue to remain at record-low levels, recently trading at less than $9/bbl under US Benchmark West Texas Intermediate (WTI). Given Prospera’s predominantly heavy oil production base, these favorable pricing conditions are contributing to enhanced revenue and cash flow. This improved netback supports the Corporation’s strategy to reallocate capital efficiently into high-impact projects, as it finalizes plans for its Q3 and Q4 service rig programs.

    Cuthbert
    Production at the Cuthbert pool has been stable, averaging 350 boe/d (100% oil) from June 1st to June 15th, driven by ongoing well speed-ups and waterflood optimization efforts along with completion of infrastructure upgrades. Two disposal wells underwent injector cleanouts using solvent-based chemicals, yielding promising initial results that enhance out-of-zone water disposal and improve waterflood pattern efficiency and injection volumes. Additionally, an overhaul of the third injection pump has been completed, positioning it for immediate service. A high-impact remediation project on the 16-28 HZ well is underway, including the installation of a downhole bridge plug to isolate a section of the well previously drilled into coal and water, further optimizing operational performance.

    Hearts Hill
    Production at the Hearts Hill pool continues to trend upward, averaging 245 boe/d (89% oil), with oil cuts steadily improving due to effective load fluid recovery, well speed-ups, and ongoing waterflood optimization efforts. The Corporation is conducting a line-by-line review of all pipelines in the area to validate injection volumes, ensure pipeline integrity, and prepare for further field reactivations. Additionally, Prospera is advancing technical studies on conformance gel injections to mitigate water channeling, while exploring uphole potential in zones, including the proven Sparky sand and the prospective Waseca and Rex sands.

    Luseland
    The Corporation continues to report strong production growth at the Luseland pool, averaging production of 179 boe/d (100% oil), bolstered by successful post-spring break-up workovers and reactivations. Notably, the 01-17 well is consistently producing at 15 bbls/d, while the 03-09 well continues to climb, now producing 17 bbls/d with further upside potential through ongoing optimization efforts. The 04-33 well, carefully managed through a significant sand influx, underscores the company’s operational expertise as it is now producing 22 bbls/d. These achievements reinforce Prospera’s strategic focus on reactivating legacy wells with substantial original oil in place (OOIP). By bringing these wells back online, the company is successfully transforming assets previously classified as No Reserves Associated (NRA), with only Asset Retirement Obligations (ARO), into actively producing wells with meaningful Proved Developed Producing (PDP) reserves and associated cash flow.

    Cash Flow and Key Wells Report
    Prospera is pleased to publish its inaugural cash flow and key wells report on the website which will be a monthly report released at the same time as our monthly operational update. Critical information including monthly revenue, operating costs, and field operating cash flows will be reported along with capital expenditures. Additionally, production updates including detailed information and graphs will be shared on numerous key wells as the company enhances its transparency and further proves out its workover and reactivation model.

    Annual General Meeting
    Prospera Energy Inc. invites shareholders to attend its upcoming Annual General Meeting on June 19th at 11:00 AM MST, held at the Calgary Petroleum Club (Trophy Room), 319 5 Ave SW, Calgary, AB T2P 0L5. Management will provide an overview of recent operational progress and future initiatives. All stakeholders are encouraged to participate.

    Loan Amendment Update
    The Corporation announces a further amendment to its $11,000,000 promissory note, originally dated June 7, 2024, in collaboration with its principal lender. Following previous increases, an additional $1,200,000 has been added, bringing the total principal amount to $16,700,000. The note retains its original terms, including a 12% interest rate and a two-year maturity, with no other changes. This amendment remains subject to acceptance by the TSXV.

    Shares for Debt
    As previously announced on March 25th, 2025, the Corporation settled $72,765.48 in outstanding interest expense owed to debenture holders through the issuance of 1,455,309 common shares at a price of $0.05 per share. The securities are subject to a four month hold period from the date of closing. The transaction was approved by the TSX Venture Exchange.

    About Prospera
    Prospera Energy Inc. is a publicly traded Canadian energy company specializing in the exploration, development, and production of crude oil and natural gas. Headquartered in Calgary, Alberta, Prospera is dedicated to optimizing recovery from legacy fields using environmentally safe and efficient reservoir development methods and production practices. The company’s core properties are strategically located in Saskatchewan and Alberta, including Cuthbert, Luseland, Hearts Hills, and Brooks. Prospera Energy Inc. is listed on the TSX Venture Exchange under the symbol PEI and the U.S. OTC Market under GXRFF.

    Prospera reports gross production at the first point of sale, excluding gas used in operations and volumes from partners in arrears, even if cash proceeds are received. Gross production represents Prospera’s working interest before royalties, while net production reflects its working interest after royalty deductions. These definitions align with ASC 51-324 to ensure consistency and transparency in reporting.

    For Further Information:

    Shawn Mehler, PR
    Email: investors@prosperaenergy.com

    Chris Ludtke, CFO
    Email: cludtke@prosperaenergy.com

    Shubham Garg, Chairman of the Board
    Email: sgarg@prosperaenergy.com

    FORWARD-LOOKING STATEMENTS

    This news release contains forward-looking statements relating to the future operations of the Corporation and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will,” “may,” “should,” “anticipate,” “expects” and similar expressions. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding future plans and objectives of the Corporation, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

    Although Prospera believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Prospera can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, risks associated with the oil and gas industry in general (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks), commodity price and exchange rate fluctuations and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures.

    The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Prospera. As a result, Prospera cannot guarantee that any forward-looking statement will materialize, and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release, and Prospera does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by Canadian securities law.

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

    The MIL Network –

  • Israel Intercepts 30 Iranian Drones as Arab Nations Call for De-escalation

    Source: Government of India

    Source: Government of India (4)

    Israel’s military intercepted and eliminated 30 drones from Iran overnight, the Israel Defense Forces said Tuesday, describing it as the least impactful night by the Iranian attacks since the beginning of this operation. The IDF also reported Iran fired several ballistic missiles toward Israel, though the exact number was not specified.

    Around 20 missiles fired from Iran on Tuesday triggered sirens across Israel, including northern and southern areas, central Israel, Jerusalem, and the West Bank. Reports indicated a direct hit in central Israel, with property damage confirmed by Israeli police, though authorities have not officially confirmed the strike.

    The foreign ministers of 20 Arab and Muslim countries, including Egypt, Jordan, Saudi Arabia, UAE, Turkey, and Pakistan, denounced Israel’s attacks on Iran and called for de-escalation in a joint statement. The ministers expressed grave concern over the dangerous escalation in the region and urged all parties to settle disputes peacefully while respecting state sovereignty and territorial integrity. They also emphasized the importance of creating a Middle East free of nuclear weapons and urged countries to join the Non-Proliferation Treaty.

    US President Donald Trump called for the immediate evacuation of all of Tehran, issuing the warning shortly after Israeli forces told residents in northeastern Tehran to leave ahead of planned strikes. The Pentagon announced deployment of additional military capabilities to West Asia to enhance defensive posture amid the escalating conflict.

    Israeli Defense Minister Israel Katz later clarified that Israel has no intention of deliberately harming Tehran’s residents. “There is no intention to physically harm the residents of Tehran as the murderous dictator does to the residents of Israel,” Katz said.

    Israeli Prime Minister Benjamin Netanyahu claimed Monday that the strikes have set Iran’s nuclear program back “years” and said he is in daily contact with Trump, who left the G7 summit in Canada early amid reports he was heading to Washington to work on a ceasefire deal.

  • MIL-Evening Report: View from the Hill: Cancelled Albanese-Trump meeting a setback on tariffs, AUKUS

    Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra

    Anthony Albanese’s failure to get his much-anticipated meeting with US President Donald Trump is not the prime minister’s fault, nor should it be characterised as a “snub” by the president.

    There was always a risk of derailment by outside events, particularly when the scheduled get-together was late in the piece, rather than soon after the president’s arrival in Canada for the G7.

    Nevertheless, the result is something of a debacle for Albanese.

    The prime minister needs to meet the president. Pressing issues – tariffs, AUKUS and defence – require discussion at leadership level. Quite apart from having the two leaders, who’ve never met, establishing some personal relationship.

    It would have been especially desirable for the prime minister to convey, at the highest level, Australia’s views on the importance of and progress on AUKUS, as the month-long US inquiry into the agreement begins. This inquiry, announced last week, is examining whether the pact serves the US’ interests.
    It’s also difficult to see Australia being able to extract concessions on the US tariffs without a discussion between the leaders. Possibly something can be done in phone calls between the two. But they seem as rare as hen’s teeth.

    The Albanese government’s spin is, no matter, there will be a chance for a meeting when Albanese goes to the US in September to address the United Nations leaders’ week. He can make a side trip to Washington.

    Perhaps. But let’s wait to see the invitation to Washington. Many leaders are in the US at that time, wanting to get to the capital.

    Anyway, it’s become increasingly clear Albanese is not keen on facing the now-risky Oval Office ritual. Trump may be in a bad mood. The US journalists present could be feral.

    If Albanese hopes the meeting would be in New York, that would be at the whim of Trump’s schedule.

    Looking back, whatever the counterarguments (that included the complication of an election campaign), the prime minister should have tried very hard to get to Trump earlier, including braving the Oval Office.

    This is not because Australia should kowtow to the Americans, but because any Australian prime minister should engage, as soon as possible, with a new US administration, especially when the president is as volatile as this one.

    When things slip, as they have now, it all becomes trickier to navigate.

    Those with good memories might recall this is not the first time Albanese has found himself victim of a presidential no-show. In 2023, then president Joe Biden was supposed to come to Australia for the Quad, and address the federal parliament.

    Because of a deadlock in negotiations over the US budget, the president didn’t make it. (Later he issued Albanese an invitation for an official visit to Washington, seen as compensation. Not a precedent Albanese should rely on.) The Biden no-show was a big inconvenience but no more, given the very positive relations between the Albanese government and that US administration.

    Some in Labor would think about the Trump issue in domestic political terms – that given Australians don’t like Trump, it’s not that important whether there is a meeting. But that sort of approach is not in Australia’s national interests.

    An exchange at the joint news conference Trump and UK Prime Minister Keir Starmer (who has a deal on tariffs) gave in Canada is instructive.

    Question: On the AUKUS submarine agreement, is that still proceeding?

    Keir Starmer: Yep, we’re proceeding with that. It’s a really important deal to both of us. I think the President is doing a review. We did a review when we came into government, so that makes good sense to me.

    Donald Trump: We’re very long-time partners and allies and friends, and we’ve become friends in a short period of time. He’s slightly more liberal than I am, to put it mildly.

    Starmer: I stand slightly on the left.

    Trump: But for some reason, we get along.

    Starmer: We make it work.

    Somehow, Albanese needs to find a way to “make it work”.

    Michelle Grattan does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. View from the Hill: Cancelled Albanese-Trump meeting a setback on tariffs, AUKUS – https://theconversation.com/view-from-the-hill-cancelled-albanese-trump-meeting-a-setback-on-tariffs-aukus-258968

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: View from the Hill: Cancelled Albanese-Trump meeting a setback on tariffs, AUKUS

    Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra

    Anthony Albanese’s failure to get his much-anticipated meeting with US President Donald Trump is not the prime minister’s fault, nor should it be characterised as a “snub” by the president.

    There was always a risk of derailment by outside events, particularly when the scheduled get-together was late in the piece, rather than soon after the president’s arrival in Canada for the G7.

    Nevertheless, the result is something of a debacle for Albanese.

    The prime minister needs to meet the president. Pressing issues – tariffs, AUKUS and defence – require discussion at leadership level. Quite apart from having the two leaders, who’ve never met, establishing some personal relationship.

    It would have been especially desirable for the prime minister to convey, at the highest level, Australia’s views on the importance of and progress on AUKUS, as the month-long US inquiry into the agreement begins. This inquiry, announced last week, is examining whether the pact serves the US’ interests.
    It’s also difficult to see Australia being able to extract concessions on the US tariffs without a discussion between the leaders. Possibly something can be done in phone calls between the two. But they seem as rare as hen’s teeth.

    The Albanese government’s spin is, no matter, there will be a chance for a meeting when Albanese goes to the US in September to address the United Nations leaders’ week. He can make a side trip to Washington.

    Perhaps. But let’s wait to see the invitation to Washington. Many leaders are in the US at that time, wanting to get to the capital.

    Anyway, it’s become increasingly clear Albanese is not keen on facing the now-risky Oval Office ritual. Trump may be in a bad mood. The US journalists present could be feral.

    If Albanese hopes the meeting would be in New York, that would be at the whim of Trump’s schedule.

    Looking back, whatever the counterarguments (that included the complication of an election campaign), the prime minister should have tried very hard to get to Trump earlier, including braving the Oval Office.

    This is not because Australia should kowtow to the Americans, but because any Australian prime minister should engage, as soon as possible, with a new US administration, especially when the president is as volatile as this one.

    When things slip, as they have now, it all becomes trickier to navigate.

    Those with good memories might recall this is not the first time Albanese has found himself victim of a presidential no-show. In 2023, then president Joe Biden was supposed to come to Australia for the Quad, and address the federal parliament.

    Because of a deadlock in negotiations over the US budget, the president didn’t make it. (Later he issued Albanese an invitation for an official visit to Washington, seen as compensation. Not a precedent Albanese should rely on.) The Biden no-show was a big inconvenience but no more, given the very positive relations between the Albanese government and that US administration.

    Some in Labor would think about the Trump issue in domestic political terms – that given Australians don’t like Trump, it’s not that important whether there is a meeting. But that sort of approach is not in Australia’s national interests.

    An exchange at the joint news conference Trump and UK Prime Minister Keir Starmer (who has a deal on tariffs) gave in Canada is instructive.

    Question: On the AUKUS submarine agreement, is that still proceeding?

    Keir Starmer: Yep, we’re proceeding with that. It’s a really important deal to both of us. I think the President is doing a review. We did a review when we came into government, so that makes good sense to me.

    Donald Trump: We’re very long-time partners and allies and friends, and we’ve become friends in a short period of time. He’s slightly more liberal than I am, to put it mildly.

    Starmer: I stand slightly on the left.

    Trump: But for some reason, we get along.

    Starmer: We make it work.

    Somehow, Albanese needs to find a way to “make it work”.

    Michelle Grattan does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. View from the Hill: Cancelled Albanese-Trump meeting a setback on tariffs, AUKUS – https://theconversation.com/view-from-the-hill-cancelled-albanese-trump-meeting-a-setback-on-tariffs-aukus-258968

    MIL OSI Analysis – EveningReport.nz –

  • Trump says his G7 summit departure not linked to any Israel-Iran ceasefire offer

    Source: Government of India

    Source: Government of India (4)

    Donald Trump said late on Monday his early departure from the Group of Seven nations summit has “nothing to do with” working on a ceasefire between Israel and Iran, refuting comments by French President Emmanuel Macron who said the U.S. president made a ceasefire proposal.

    Macron “mistakenly said that I left the G7 Summit, in Canada, to go back to D.C. to work on a ‘cease fire’ between Israel and Iran,” Trump wrote on his Truth Social platform as he left the G7 summit in Canada to return to Washington.

    “Wrong! He has no idea why I am now on my way to Washington, but it certainly has nothing to do with a Cease Fire. Much bigger than that,” Trump added in the post.

    Macron said earlier on Monday Trump had made an offer for a ceasefire between Israel and Iran. “There is indeed an offer to meet and exchange. An offer was made especially to get a ceasefire and to then kick-start broader discussions,” Macron told reporters at the G7.

    Trump left the G7 summit in Canada early to return to Washington due to the Middle East situation.

    The air war between Iran and U.S. ally Israel – which began on Friday when Israel attacked Iran with air strikes – has raised alarms in a region that had already been on edge since the start of Israel’s military assault on Gaza in October 2023.

    Since the Israeli strikes on Friday, the two Middle Eastern rivals have exchanged blows, with Iranian officials reporting over 220 deaths, mostly civilians, while Israel said 24 civilians were killed.

    Israel, the U.S. and other Western nations have long sought to pressure Iran to curb its nuclear weapons development.

    Tehran denies seeking nuclear weapons and has said it has the right to develop nuclear technology for peaceful purposes, including enrichment, as a party to the Nuclear Non-Proliferation Treaty.

    Israel, which is not a party to the NPT, is the only country in the Middle East widely believed to have nuclear weapons.

    Washington said Trump was still aiming for a nuclear deal with Iran.

    (Reuters)

  • G7 expresses support for Israel, calls Iran source of instability

    Source: Government of India

    Source: Government of India (4)

    The Group of Seven nations expressed support for Israel in a statement issued late on Monday and labeled its rival Iran as a source of instability in the Middle East, with the G7 leaders urging broader de-escalation of hostilities in the region.

    The air war between Iran and Israel – which began on Friday when Israel attacked Iran with air strikes – has raised alarms in a region that had already been on edge since the start of Israel‘s military assault on Gaza in October 2023.

    “We affirm that Israel has a right to defend itself. We reiterate our support for the security of Israel,” G7 leaders said in the statement.

    “Iran is the principal source of regional instability and terror,” the statement added and said the G7 was “clear that Iran can never have a nuclear weapon.”

    Israel attacked Iran on Friday in what it called a preemptive strike to prevent Tehran from developing nuclear weapons. Since then the two Middle Eastern rivals have exchanged blows, with Iranian officials reporting over 220 deaths, mostly civilians, while Israel said 24 civilians were killed.

    Iran denies seeking nuclear weapons and has said it has the right to develop nuclear technology for peaceful purposes, including enrichment, as a party to the Nuclear Non-Proliferation Treaty.

    Israel, which is not a party to the NPT, is the only country in the Middle East widely believed to have nuclear weapons. Israel does not deny or confirm that.

    President Donald Trump planned to leave the G7 summit in Canada early to return to Washington due to the Middle East situation.

    The United States has so far maintained that it is not involved in the Israeli attacks on Iran although Trump said on Friday the U.S. was aware of Israel‘s strikes in advance and called them “excellent.” Washington has warned Tehran not to attack U.S. interests or personnel in the region.

    “We urge that the resolution of the Iranian crisis leads to a broader de-escalation of hostilities in the Middle East, including a ceasefire in Gaza,” the G7 statement said, adding the nations were also ready to coordinate on safeguarding stability in energy markets.

    An Israeli strike hit Iran‘s state broadcaster on Monday while Trump said in a social media post that “everyone should immediately evacuate Tehran.”

    Separately, U.S. Secretary of State Marco Rubio also discussed the Israel–Iran war in phone calls with his British, French and European Union counterparts on Monday.

    Washington said Trump was still aiming for a nuclear deal with Iran.

    (Reuters)

  • G7 expresses support for Israel, calls Iran source of instability

    Source: Government of India

    Source: Government of India (4)

    The Group of Seven nations expressed support for Israel in a statement issued late on Monday and labeled its rival Iran as a source of instability in the Middle East, with the G7 leaders urging broader de-escalation of hostilities in the region.

    The air war between Iran and Israel – which began on Friday when Israel attacked Iran with air strikes – has raised alarms in a region that had already been on edge since the start of Israel‘s military assault on Gaza in October 2023.

    “We affirm that Israel has a right to defend itself. We reiterate our support for the security of Israel,” G7 leaders said in the statement.

    “Iran is the principal source of regional instability and terror,” the statement added and said the G7 was “clear that Iran can never have a nuclear weapon.”

    Israel attacked Iran on Friday in what it called a preemptive strike to prevent Tehran from developing nuclear weapons. Since then the two Middle Eastern rivals have exchanged blows, with Iranian officials reporting over 220 deaths, mostly civilians, while Israel said 24 civilians were killed.

    Iran denies seeking nuclear weapons and has said it has the right to develop nuclear technology for peaceful purposes, including enrichment, as a party to the Nuclear Non-Proliferation Treaty.

    Israel, which is not a party to the NPT, is the only country in the Middle East widely believed to have nuclear weapons. Israel does not deny or confirm that.

    President Donald Trump planned to leave the G7 summit in Canada early to return to Washington due to the Middle East situation.

    The United States has so far maintained that it is not involved in the Israeli attacks on Iran although Trump said on Friday the U.S. was aware of Israel‘s strikes in advance and called them “excellent.” Washington has warned Tehran not to attack U.S. interests or personnel in the region.

    “We urge that the resolution of the Iranian crisis leads to a broader de-escalation of hostilities in the Middle East, including a ceasefire in Gaza,” the G7 statement said, adding the nations were also ready to coordinate on safeguarding stability in energy markets.

    An Israeli strike hit Iran‘s state broadcaster on Monday while Trump said in a social media post that “everyone should immediately evacuate Tehran.”

    Separately, U.S. Secretary of State Marco Rubio also discussed the Israel–Iran war in phone calls with his British, French and European Union counterparts on Monday.

    Washington said Trump was still aiming for a nuclear deal with Iran.

    (Reuters)

  • MIL-OSI Russia: The UN General Assembly declared December 4 as the day of struggle against unilateral sanctions

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    Source: People’s Republic of China – State Council News

    UNITED NATIONS, June 17 (Xinhua) — The United Nations General Assembly on Monday declared December 4 as the International Day against Unilateral Coercive Measures.

    The adopted resolution calls on States to refrain from adopting, enacting or applying any unilateral economic, financial or trade measures that are not in accordance with international law and the UN Charter and that impede or undermine the full achievement of socio-economic development, particularly in developing countries.

    The document notes that the establishment of the International Day will complement ongoing efforts to raise global awareness of the negative consequences of unilateral coercive measures and will contribute to strengthening international cooperation and solidarity between countries in eliminating the consequences of such sanctions.

    The resolution was supported by 116 delegations, 51 countries voted against, and six abstained. The countries of the Global North voted against, including the EU, Australia, the UK, Canada, Japan and the US. –0–

    MIL OSI Russia News –

  • India advises nationals to evacuate Tehran amid escalating Iran-Israel conflict

    Source: Government of India

    Source: Government of India (4)

    India on Tuesday urged its nationals and Persons of Indian Origin (PIOs) in Iran to evacuate Tehran, shift to safer locations, and remain in close contact with the Indian Embassy amid growing tensions in the region.

    As the Israel-Iran conflict entered its fifth day, hostilities continued to escalate. Several Iranian missiles were fired at Israel, triggering air raid sirens in Haifa and dozens of other cities and communities across northern Israel and the occupied Golan Heights, according to the Israeli military.

    “All Indian nationals and PIOs who can move out of Tehran using their own resources are advised to relocate to a safe location outside the city,” the Indian Embassy in Iran posted on X.

    “All Indian nationals currently in Tehran and not in touch with the Embassy are requested to contact the Embassy of India in Tehran immediately and provide their location and contact numbers. Kindly contact: +989010144557; +989128109115; +989128109109,” the Embassy added.

    The Ministry of External Affairs has also set up a 24×7 Control Room in view of the ongoing developments in Iran and Israel. The helpline numbers shared by the Ministry are: 1800-11-8797 (toll-free), +91-11-23012113, +91-11-23014104, +91-11-23017905, and WhatsApp number +91-9968291988. Emails may be sent to: situationroom@mea.gov.in.

    Meanwhile, U.S. President Donald Trump has also urged people to evacuate Tehran amid the intensifying conflict.

    “Iran should have signed the deal I told them to sign. What a shame, and waste of human life. Simply stated, Iran cannot have a nuclear weapon. I said it over and over again! Everyone should immediately evacuate Tehran!” Trump posted on Truth Social on Tuesday.

    The U.S. President also announced that he would cut short his visit to the Group of Seven (G7) Summit in Canada to closely monitor the situation in the Middle East.

    In the latest developments, Bazan Group—Israel’s largest oil refinery company—announced that all of its facilities at the Haifa Port have been completely shut down due to damage caused by an Iranian missile strike.

  • MIL-Evening Report: The Middle East is a major flight hub. How do airlines keep passengers safe during conflict?

    Source: The Conversation (Au and NZ) – By Natasha Heap, Program Director for the Bachelor of Aviation, University of Southern Queensland

    Screenshot June 17 2025, Courtesy of Flightradar24

    The Middle East is a region of intense beauty and ancient kingdoms. It has also repeatedly endured periods of geopolitical instability over many centuries.

    Today, geopolitical, socio-political and religious tensions persist. The world is currently watching as longstanding regional tensions come to a head in the shocking and escalating conflict between Israel and Iran.

    The global airline industry takes a special interest in how such tensions play out. This airspace is a crucial corridor linking Europe, Asia and Africa.

    The Middle East is now home to several of the world’s largest international airlines: Emirates, Qatar Airways and Etihad Airways. These airlines’ home bases – Dubai, Doha and Abu Dhabi, respectively – have become pivotal hubs in international aviation.

    Keeping passengers safe will be all airlines’ highest priority. What could an escalating conflict mean for both the airlines and the travelling public?

    Safety first

    History shows that the civil airline industry and military conflict do not mix. On July 3 1988, the USS Vincennes, a US navy warship, fired two surface-to-air missiles and shot down Iran Air Flight 655, an international passenger service over the Persian Gulf.

    More recently, on July 17 2014, Malaysian Airlines Flight MH17 was shot down over eastern Ukraine as the battle between Ukrainian forces and pro-Russian separatists continued.

    Understandably, global airlines are very risk-averse when it comes to military conflict. The International Civil Aviation Organization requires airlines to implement and maintain a Safety Management System (SMS).

    One of the main concerns – known as “pillars” – of the SMS is “safety risk management”. This includes the processes to identify hazards, assess risks and implement risk mitigation strategies.

    The risk-management departments of airlines transiting the Middle East region will have been working hard on these strategies.

    Headquartered in Montreal, Canada, the International Civil Aviation Organization has strict requirements and protocols to keep passengers safe.
    meunierd/Shutterstock

    Route recalculation

    The most immediate and obvious evidence of such strategies being put in place are changes to aircraft routing, either by cancelling or suspending flights or making changes to the flight plans. This is to ensure aircraft avoid the airspace where military conflicts are flaring.

    At the time of writing, a quick look at flight tracking website Flightradar24 shows global aircraft traffic avoiding the airspace of Iran, Iraq, Syria, Israel, Jordan, Palestine and Lebanon. The airspace over Ukraine is also devoid of air traffic.

    Rerouting, however, creates its own challenges. Condensing the path of the traffic into smaller, more congested areas can push aircraft into and over areas that are not necessarily equipped to deal with such a large increase in traffic.

    Having more aircraft in a smaller amount of available safe airspace creates challenges for air traffic control services and the pilots operating the aircraft.

    More time and fuel

    Avoiding areas of conflict is one of the most visible forms of airline risk management. This may add time to the length of a planned flight, leading to higher fuel consumption and other logistical challenges. This will add to the airlines’ operating costs.

    There will be no impact on the cost of tickets already purchased. But if the instability in the region continues, we may see airline ticket prices increase.

    It is not just the avoidance of airspace in the region that could place upward pressure on the cost of flying. Airliners run on Jet-A1 fuel, produced from oil.

    If Iran closes the Strait of Hormuz, the “world’s most important oil transit chokepoint”, this could see the cost of oil, and in turn Jet-A1, significantly increase. Increasing fuel costs will be passed on the paying passenger. However, some experts believe such a move is unlikely.

    A major hub

    The major aviation hubs in the Middle East provide increased global connectivity, enabling passengers to travel seamlessly between continents.

    Increased regional instability has the potential to disrupt this global connectivity. In the event of a prolonged conflict, airlines operating in and around the region may find they have increased insurance costs. Such costs would eventually find their way passed on to consumers through higher ticket prices.

    The Middle East is a major connecting hub for global aviation.
    Art Konovalov/Shutterstock

    Passenger confidence

    Across the globe, airlines and governments are issuing travel advisories and warnings. The onus is on the travelling public to stay informed about changes to flight status, and potential delays.

    Such warnings and advisories can lead to a drop in passenger confidence, which may then lead to a drop in bookings both into and onwards from the region.

    Until the increase in instability in the Middle East, global airline passenger traffic numbers were larger than pre-pandemic figures. Strong growth had been predicted in the coming decades.

    Anything that results in falling passenger confidence could negatively impact these figures, leading to slowed growth and affecting airline profitability.

    Despite high-profile disasters, aviation remains the safest form of transport. As airlines deal with these challenges they will constantly work to keep flights safe and to win back passenger confidence in this unpredictable situation.

    Natasha Heap does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. The Middle East is a major flight hub. How do airlines keep passengers safe during conflict? – https://theconversation.com/the-middle-east-is-a-major-flight-hub-how-do-airlines-keep-passengers-safe-during-conflict-259034

    MIL OSI Analysis – EveningReport.nz –

  • PM Modi arrives in Calgary for G7 Summit

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi arrived in Calgary, Canada on Tuesday (local time) to participate in the G7 Summit, where he will meet with global leaders and share India’s views on key international challenges.
     
    As part of his ongoing three-nation tour — which began in Cyprus and will conclude in Croatia — PM Modi said that he would highlight the concerns of the Global South during the Summit. In a post on X, the Prime Minister said, “Landed in Calgary, Canada, to take part in the G7 Summit. Will be meeting various leaders at the Summit and sharing my thoughts on important global issues. Will also be emphasising the priorities of the Global South.”
     
    Ministry of External Affairs spokesperson Randhir Jaiswal said that PM Modi will participate in G7 discussions on the future of energy security. These discussions will focus on diversification, technological innovation, infrastructure, and investment, aimed at ensuring access and affordability in a changing global landscape.
     
    “At the invitation of PM @MarkJCarney, PM @narendramodi arrives in Alberta, Canada for the G7 Summit,” Jaiswal wrote on X. “PM will be participating in @G7 discussions on energy security… and will also hold several bilateral meetings on the sidelines.”
     
    PM Modi’s arrival in Canada comes at a time of diplomatic recalibration between the two nations, following a period of strained relations.
     
    Other invitees to the G7 meeting are Presidents Volodymyr Zelensky of Ukraine, Claudia Sheinbaum of Mexico, Luiz Inacio Lula da Silva of Brazil, and Lee Jae-Myung of South Korea, and Prime Ministers Anthony Albanese of Australia and Cyril Ramaphosa of South Africa.
     
    The G7 Summit is an annual gathering of leaders from the United States, United Kingdom, France, Germany, Japan, Italy, Canada, and the European Union. This year’s edition marks PM Modi’s sixth straight attendance at the Summit.
     
    (ANI)

  • PM Modi arrives in Calgary for G7 Summit

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi arrived in Calgary, Canada on Tuesday (local time) to participate in the G7 Summit, where he will meet with global leaders and share India’s views on key international challenges.
     
    As part of his ongoing three-nation tour — which began in Cyprus and will conclude in Croatia — PM Modi said that he would highlight the concerns of the Global South during the Summit. In a post on X, the Prime Minister said, “Landed in Calgary, Canada, to take part in the G7 Summit. Will be meeting various leaders at the Summit and sharing my thoughts on important global issues. Will also be emphasising the priorities of the Global South.”
     
    Ministry of External Affairs spokesperson Randhir Jaiswal said that PM Modi will participate in G7 discussions on the future of energy security. These discussions will focus on diversification, technological innovation, infrastructure, and investment, aimed at ensuring access and affordability in a changing global landscape.
     
    “At the invitation of PM @MarkJCarney, PM @narendramodi arrives in Alberta, Canada for the G7 Summit,” Jaiswal wrote on X. “PM will be participating in @G7 discussions on energy security… and will also hold several bilateral meetings on the sidelines.”
     
    PM Modi’s arrival in Canada comes at a time of diplomatic recalibration between the two nations, following a period of strained relations.
     
    Other invitees to the G7 meeting are Presidents Volodymyr Zelensky of Ukraine, Claudia Sheinbaum of Mexico, Luiz Inacio Lula da Silva of Brazil, and Lee Jae-Myung of South Korea, and Prime Ministers Anthony Albanese of Australia and Cyril Ramaphosa of South Africa.
     
    The G7 Summit is an annual gathering of leaders from the United States, United Kingdom, France, Germany, Japan, Italy, Canada, and the European Union. This year’s edition marks PM Modi’s sixth straight attendance at the Summit.
     
    (ANI)

  • Iran strikes Israeli broadcaster as Tehran seeks diplomatic exit through Gulf intermediaries

    Source: Government of India

    Source: Government of India (4)

    The Islamic Republic of Iran Broadcasting (IRIB), Iran’s national broadcaster, came under direct attack in what Israeli military officials described as retaliation for strikes on Israeli media infrastructure. The assault on IRIB marks a troubling escalation in the targeting of civilian facilities by both sides.

    On Monday, Iranian missiles struck Israel’s Tel Aviv and the port city of Haifa, destroying homes and causing civilian casualties as the conflict between the two nations entered its fourth consecutive day. In response, Israel launched airstrikes on buildings housing Iranian state-owned media organizations in Tehran, including the IRIB television facility—hit during a live broadcast.

    The intensifying confrontation has prompted urgent diplomatic efforts by Gulf nations and raised alarm among global leaders gathered at the G7 Summit over the risk of a wider regional war.

    Tehran has reached out to Qatar, Saudi Arabia, and Oman, urging these Gulf intermediaries to persuade U.S. President Donald Trump to use his influence on Israel to agree to an immediate ceasefire. In exchange, Iran has signaled openness to renewed flexibility in nuclear negotiations. Gulf leaders and their top diplomats are reportedly engaged in round-the-clock communication with Tehran, Washington, and other capitals in an effort to contain what is now considered the most serious direct confrontation between the two longstanding rivals in West Asia.

    The diplomatic push comes amid ongoing missile and drone strikes targeting each other’s military, nuclear, and civilian infrastructure. Israeli Prime Minister Benjamin Netanyahu on Monday did not rule out a potential strike on Iran’s Supreme Leader Ayatollah Ali Khamenei, stating that such an action could “end the conflict.” However, according to a U.S. official, President Trump has reportedly rejected Israeli plans to assassinate the Iranian leader.

    The Israeli military issued evacuation warnings to residents and personnel in target areas of Tehran before conducting the strikes. Similar warnings were also issued within Israel.

    Speaking at the G7 Summit in Canada, President Trump urged Iran to return to the negotiating table over its nuclear program to help resolve the crisis. “They should talk, and they should talk immediately before it’s too late,” Trump said. While the United States has not provided direct military support to Israel so far, the president has indicated that future involvement remains a possibility.

    Despite mounting destruction and civilian casualties, there are currently no clear signs of de-escalation. Iran has expressed a willingness to return to nuclear negotiations if Israeli attacks cease, but both nations appear entrenched in their positions.

    As a security precaution, the Israeli Civil Aviation Authority has announced a complete closure of airspace over major cities, while Iran has imposed similar restrictions on civilian flights over Tehran and other urban centers. Both militaries have issued evacuation advisories to civilians in high-risk zones, though their effectiveness in preventing casualties remains uncertain.