NewzIntel.com

Category: CTF

  • MIL-OSI USA: Durbin Meets With Nominee To Serve As Chairman Of CFTC

    US Senate News:

    Source: United States Senator for Illinois Dick Durbin
    May 14, 2025
    WASHINGTON – U.S. Senate Democratic Whip Dick Durbin (D-IL) today met with Brian Quintenz, who has been nominated to serve as Chairman of the Commodity Futures Trading Commission (CFTC).  During their meeting, Durbin emphasized the need for regulation and steady oversight on cryptocurrency, as well as explicit consumer protections within the industry.  As a member of the Senate Appropriations Committee, Durbin also discussed funding that is needed to enforce cryptocurrency regulation at CFTC.
    “As cryptocurrency rises in popularity, it’s critical that we institute oversight and regulations that adequately protect consumers,” said Durbin.  “Today, I met with Brian Quintenz, President Trump’s nominee to serve as Chairman of CFTC, to reiterate that, if confirmed, he must put American consumers first and ensure that the digital asset market plays fair.”
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    MIL OSI USA News –

  • MIL-OSI USA: Hickenlooper Honors Rev. James Peters, Jr.

    US Senate News:

    Source: United States Senator John Hickenlooper – Colorado
    WASHINGTON – Today, U.S. Senator John Hickenlooper released the following statement to honor the passing of longtime civil rights leader, Reverend James Peters, Jr.
    “James was truly one of the greatest men I’ve ever known – standing tall in a room full of giants.
    “I will always remember our trip to Montgomery to visit the National Memorial for Peace and Justice. His unwavering compassion and leadership helped guide our country – and Denver – toward a brighter future.”
    Hickenlooper with Rev. Peters outside of the National Memorial for Peace and Justice in Montgomery.
    Reverend Peters was a founding member of the Southern Christian Leadership Conference and worked with Martin Luther King Jr. in the civil rights movement of the 1950s and 1960s. He served as pastor of New Hope Baptist Church in the Denver metropolitan area for 28 years and previously chaired the Colorado Civil Rights Commission. He passed away on Saturday.

    MIL OSI USA News –

  • MIL-OSI USA: Bipartisan Jewish American Heritage Month Resolution Passes the House

    Source: United States House of Representatives – Representative Debbie Wasserman Schultz (FL-23)

    “As we celebrate the 20th year of Jewish American Heritage Month, I am proud to open the doors of understanding to everyone about all the remarkable contributions that generations of Jewish Americans made to shape our nation’s history, culture and society,” said Wasserman Schultz. “This celebration is also one of the most effective ways to combat rising antisemitism, as Jews and non-Jews alike come to learn about all the amazing Jewish Americans who served in pivotal government and military posts, won Nobel prizes, led universities and corporations, developed lifechanging inventions, authored great American novels, and worked to advance America’s noble experiment in democracy. I am so proud to join my bipartisan House colleagues in this effort.”

    Washington D.C. – Today, a resolution led by U.S. Reps. Debbie Wasserman Schultz (FL-25), Mariannette Miller-Meeks (IA-01), Troy A. Carter, Sr. (LA-02), and Brian Fitzpatrick (PA-01) to recognize Jewish American Heritage Month (JAHM) passed the House of Representatives in a 421 to 1 vote. JAHM aims to recognize the significant contributions of Jewish Americans to the society and culture of the United States.

    “As we celebrate the 20th year of Jewish American Heritage Month, I am proud to open the doors of understanding to everyone about all the remarkable contributions that generations of Jewish Americans made to shape our nation’s history, culture and society,” said Wasserman Schultz. “This celebration is also one of the most effective ways to combat rising antisemitism, as Jews and non-Jews alike come to learn about all the amazing Jewish Americans who served in pivotal government and military posts, won Nobel prizes, led universities and corporations, developed lifechanging inventions, authored great American novels, and worked to advance America’s noble experiment in democracy. I am so proud to join my bipartisan House colleagues in this effort.”

    “Jewish Americans have helped shape every corner of our nation—from science and technology to public service and the arts. As antisemitism rises at home and abroad, we must lead with strength, clarity, and unity,” said Miller-Meeks. “I’m proud to cosponsor this resolution to honor the contributions of Jewish Americans and to reaffirm our commitment to combating hate in all its forms.”

    “Jewish American Heritage Month is a time to celebrate the rich contributions of Jewish Americans to our nation. As we continue to see antisemitism and other forms of hatred on the rise, this resolution both honors Jewish American heritage and sends a powerful message of solidarity and support to Jewish communities across the country,” said Carter. “By educating ourselves about Jewish history and culture, we deepen our understanding of America’s diversity and reaffirm our commitment to combatting prejudice in all its forms.”

    “Jewish American heritage is woven into the fabric of our nation’s history. With the House’s passage of this bipartisan resolution, we’re not just recognizing those contributions—we’re making clear that antisemitism has no place in our country,” said Fitzpatrick. “As Co-Chair of the Bipartisan Task Force for Combating Antisemitism, I’ll continue leading efforts to ensure Jewish history is honored, Jewish communities are protected, and hate is confronted head-on.”

    This year’s JAHM resolution was endorsed by AJC, ADL, The Jewish Federations of North America, National Council on Jewish Women, and Jewish Council for Public Affairs.

    The United States observes JAHM annually each May to encourage all Americans to learn more about Jewish culture and pay tribute to the generations of Jewish Americans who have helped shape American history. With antisemitism on the rise in our country, fueled by the spread of hatred, disinformation, and Holocaust distortion online, JAHM provides an opportunity to celebrate Jewish voices and bring together all our communities in the fight against antisemitism and hate.

    JAHM was first introduced as a resolution in the U.S. House of Representatives by Wasserman Schultz, and in the U.S. Senate by the late Arlen Specter in 2006. Passing unanimously, it was then established by presidential proclamation and has since been renewed every May by Presidents George W. Bush, Barack Obama, Donald Trump, and Joseph Biden.

    Read the full resolution here.

    Watch Rep. Wasserman Schultz’s floor speech on the resolution here.

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    MIL OSI USA News –

  • MIL-OSI USA: Brownley Introduces Legislation to Improve Federal Government Use of Renewable Energy Certificates

    Source: United States House of Representatives – Julia Brownley (D-CA)

    Washington, DC – Today, Congresswoman Julia Brownley (D-CA) reintroduced the Renewable Energy Certificate Study Act, legislation that directs the Government Accountability Office (GAO) to evaluate how federal agencies use Renewable Energy Certificates (RECs) and their efficacy in advancing our nation’s clean energy goals. While RECs, certifications that one megawatt-hour (MWh) of electricity was generated from a renewable source and delivered to the grid, have become a common tool for meeting renewable energy targets, there is still limited information on whether they are delivering real and measurable climate benefits. Brownley’s bill aims to provide Congress with the data needed to ensure that RECs are being used effectively, transparently, and in a way that maximizes environmental impact.

    “Renewable Energy Certificates were created to help expand and stimulate the growth of the green energy market. Currently, RECs offer federal agencies and other entities a flexible tool to meet statutory and administrative energy procurement requirements, helping reduce emissions without the complexities of procuring renewable energy directly,” said Congresswoman Brownley.

    “As the single largest energy user in the United States, the federal government has a responsibility to use RECs as intended. My bill calls for federal agencies to evaluate the effectiveness of RECs and assess the extent of their use across the federal government, which will provide Congress with critical data to improve federal energy policy.

    “My bill will ensure the wise and effective use of taxpayer funds, while also improving RECs market-wide and helping to build a stronger, more sustainable clean energy future.”

    Under requirements in the Energy Policy Act of 2005 and the Biden Administration’s Executive Order on Catalyzing Clean Energy Industries and Jobs Through Federal Sustainability, federal agencies have worked to increase the percentage of energy they procured from climate-friendly sources. To accomplish these goals, many federal agencies turned to RECs. However, research and reporting have raised concerns that RECs may not be meaningfully reducing emissions as intended. The Renewable Energy Certificate Study Act addresses these concerns by directing the GAO to analyze the effectiveness of RECs in advancing federal clean energy objectives.

    The text of the Renewable Energy Certificate Study Act can be found here.

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    Issues: 119th Congress, Climate Crisis, Energy and Environment

    MIL OSI USA News –

  • MIL-OSI USA: Brownley Introduces Legislation to Ensure Timely Housing Assistance for Disaster Survivors

    Source: United States House of Representatives – Julia Brownley (D-CA)

    Washington, DC – Today, Congresswoman Julia Brownley (D-CA) introduced the FEMA Temporary Housing Assistance Improvement Act, legislation to ensure that disaster survivors can access temporary housing assistance from the Federal Emergency Management Agency (FEMA) without delays caused by the determination of their insurance status.

    “From the recent wildfires in California to hurricanes and floods across the country, natural disasters are becoming more frequent and more destructive,” said Congresswoman Brownley. “When families are forced to evacuate or lose their homes, they’re already facing immense stress and uncertainty. They deserve immediate support, not bureaucratic delays while FEMA determines their insurance status.

    “Survivors should not be penalized for having insurance. They should be able to access help without unnecessary obstacles. My bill ensures that temporary housing assistance reaches people when they need it most, so they can begin to rebuild their lives as possible and get the support they need without unnecessary delays.”

    Under current law, FEMA cannot provide temporary housing assistance to individuals with insurance unless it is confirmed that their policy does not cover the same expenses. Survivors often face weeks or months of delay waiting for insurance determinations, leaving them without critical housing support.

    Brownley’s legislation addresses this problem by clarifying that pending or potential insurance coverage should not delay FEMA’s ability to provide temporary housing. The bill would ensure that assistance is provided quickly and equitably to all eligible disaster survivors, regardless of insurance status.

    Background

    FEMA’s Temporary Housing Assistance program, offered through the Individuals and Households Program, provides rental assistance and other forms of shelter to individuals impacted by Presidentially-declared disasters. However, under FEMA’s current interpretation of the Stafford Act, individuals with insurance must wait for a determination before accessing these resources.

    The FEMA Temporary Housing Assistance Improvement Act would streamline FEMA’s process, accelerate the delivery of aid, and eliminate unnecessary administrative barriers.

    Read the full text of the bill here.

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    Issues: 119th Congress, Disaster Relief

    MIL OSI USA News –

  • MIL-OSI Canada: Statement by Global Affairs Canada on decision of International Civil Aviation Organization Council to hold Russia responsible for downing of Flight MH17

    Source: Government of Canada News

    May 14, 2025 – Ottawa, Ontario – Global Affairs Canada

    Global Affairs Canada today issued the following statement:

    “Canada welcomes the recent decision of the UN’s International Civil Aviation Organization (ICAO) Council on the downing of Malaysia Airlines Flight MH17 on July 17, 2014.

    “The council has found that Russia is responsible for the downing of the aircraft and that Russia breached the obligation not to use weapons against a civil aircraft in flight under Article 3 bis of the Convention on International Civil Aviation, commonly known as the Chicago Convention. In the coming weeks, the council will consider what form of reparation is in order.

    “This historic decision—the first one made by the council on the merits of a legal dispute in the ICAO’s history of almost 80 years—follows proceedings initiated in 2022 by Australia and the Netherlands against Russia in response to the tragedy of Flight MH17 being shot down over eastern Ukraine, killing all 298 people on board, including one Canadian.

    “We commend the council for fulfilling its responsibility to uphold the rule of law in civil aviation and for reaffirming that violations of it will not go unanswered.

    “Our thoughts remain with the families and loved ones of all those who lost their lives aboard Flight MH17. Canada continues to support efforts to ensure that justice is served and to reinforce international mechanisms that protect civilian lives.”

    MIL OSI Canada News –

  • MIL-OSI Canada: HMCS William Hall Departs for Operation CARIBBE

    Source: Government of Canada News (2)

    May 14, 2025 – Ottawa, ON – National Defence / Canadian Armed Forces

    On May 14, 2025, His Majesty’s Canadian Ship (HMCS) William Hall will depart from Halifax, Nova Scotia, to join Operation CARIBBE, Canada’s contribution to the U.S.-led enhanced counter-narcotics operations under the Joint Interagency Task Force South.

    As noted in its name, Operation CARIBBE specifically aims to detect and interdict illicit drug trafficking in the Caribbean region. The Canadian Armed Forces (CAF) contribute naval and air capabilities to support these efforts, working closely with international partners to disrupt the flow of narcotics and enhance the safety and security of North America, the Caribbean, and South America. Operation CARIBBE underscores Canada’s commitment to international efforts aimed at curbing illicit trafficking and enhancing regional security.

    HMCS William Hall’s deployment follows the recent success of HMCS Harry DeWolf, which assisted the United States Coast Guard (USCG) in seizing 750 kilograms of cocaine in the Caribbean Sea on March 1, 2025. This operation, supported by Colombian air and maritime assets, highlighted the strong interoperability and cooperation between the Royal Canadian Navy, the USCG, and other regional partners.

    MIL OSI Canada News –

  • MIL-OSI USA: ICYMI: In Response to Deadly Port Newark Fire, Rep. Sherrill Introduces Bill To Protect Firefighters

    Source: United States House of Representatives – Congresswoman Mikie Sherrill (NJ-11)

    On Monday, Congresswoman Mikie Sherrill introduced legislation to keep firefighters safe in crisis situations by improving equipment, training, and staffing for departments’ emergency rescue teams.

    In addition to bipartisan support from Congressman Don Bacon, Sherrill’s legislation earned the endorsement of the New Jersey Firefighters Mutual Benevolent Association, International Association of Fire Chiefs, and National Fallen Firefighters Foundation.
     

    NJ Spotlight News: Help planned for fighting port fires

    By: Ben Hulac | May 12, 2025
     

    • Legislation to craft a new national strategy for fighting port fires like the 2023 blaze that killed two firefighters at the Newark port has a good shot at becoming law, according to its lead sponsor, Rep. Mikie Sherrill (D-11th).
       
    • Fighting fires on ships demands particular knowledge and skills, said Sherrill […]
       
    • The two Newark firefighters who responded to and died from the fire two years ago on an Italian cargo ship did not have special training, she said. This bill would include specific measures to better train firefighters for combat maritime fires.
       
    • “They had not been given any specialized training,” Sherrill said in an interview with NJ Spotlight News. “Had they had a lesson in maritime training, I think it would have made a big difference. I think they would be alive today.”
       
    • Experts with the National Transportation Safety Board, an independent federal agency that dispatches investigators to emergency sites, found thick smoke disoriented the two firefighters — Wayne Brooks Jr. and Augusto Acabou — who could not find their way out of the vessel as the fire burned.
       
    • Six other emergency responders were hurt. The fire burned for five days. The probable cause was a Jeep the ship crew used to push other vehicles on board, the NTSB found.
       
    • Liquids from the Jeep’s transmission boiled over and ignited the blaze, investigators said. “Also contributing to the severity of the fire was the Newark Fire Division’s lack of marine vessel firefighting training, which resulted in an ineffective response and led to the firefighter casualties,” the NTSB said in its final report, released in April.
       
    • The port of Newark and New York is the largest by volume on the East Coast and the third largest in the country, behind Los Angeles and Long Beach, Calif.
       
    • Sherrill’s Republican co-sponsor on the bill is Don Bacon, a former Air Force general from Nebraska and one of the few moderate members of his party in the House. 
       
    • The bill directs the U.S. Fire Administration, a division of the Department of Homeland Security, to establish a “comprehensive strategy to improve equipment, training, and staffing standards,” including for groups of firefighters that respond to fires at ports.
       
    • Moving around on a ship can be tricky given the tight quarters and segmented structure, Sherrill said, referencing fire training sessions she completed during her Navy career.
       
    • “When you get on ships, it can be very, very hard to get in and out. They’re compartmentalized for various reasons,” Sherrill said. “So getting throughout the ship is difficult.”
       
    • The bill contains no funding, which could make passage easier.
       
    • Bills expire at the end of each Congress, which last for two years, and must pass the House and Senate before the president can sign them into law.

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    MIL OSI USA News –

  • MIL-OSI New Zealand: Launching the Auckland University of Technology Innovation Fund

    Source: NZ Music Month takes to the streets

    Tēnā koutou katoa,
    Thank you for inviting me to join you today. 
    Vice-Chancellor Damon Salesa, AUT Council Members, leadership, AUT Ventures staff and the start up community joining us here this morning – I appreciate your warm welcome. 
    It’s a real pleasure to help launch the AUT Innovation Fund.
    This fund is exactly the kind of initiative we want to see more of under the Government’s Going for Growth plan. New Zealand needs to back smart ideas, new technology, and the people behind them. That’s how we create better jobs, stronger businesses, and a more diverse economy.
    Our universities are central to this. They’re not just places of teaching and learning—they’re also where innovation happens. That’s why I’m pleased to see this fund focusing on turning research into real-world outcomes, including new companies, products, and services.
    It’s also good to see the fund supports sharing the benefits with researchers and students through intellectual property. When people know their ideas can go somewhere—and that they’ll be recognised and rewarded—it encourages creativity, ambition, and impact.
    AUT already has a track record in this space through AUT Ventures. It’s great to see that work now expanding, with new backing to support ideas like Spherelose and businesses like Conical. These are just some of the early examples of what’s possible.
    As Minister for Universities—and also for Science, Innovation and Technology—I see a big opportunity to better connect our universities with the wider research and business community. That’s why we’re making some of the biggest changes to our science system in 30 years. And we’re doing it in a way that recognises the vital role universities play.
    At the same time, we’re also updating the Tertiary Education Strategy—a roadmap for the future of our universities and vocational providers. It will set out the Government’s priorities for the sector and the changes we’d like to see over the next few years.
    We expect to focus on four main areas:

    Access and Participation – making sure people from all backgrounds can get the skills they need.
    Achievement – supporting students to complete their study and succeed afterwards.
    Impact and Innovation – making sure research and teaching support the economy and wider society.
    Integration and Collaboration – encouraging stronger links between universities, business, and other research groups.

    We’re also considering a fifth area: international partnerships, to grow our global connections.
    Early engagement is already underway, including with Universities New Zealand. Wider consultation will follow later this year.
    I know the changes underway in the sector are big. I want to acknowledge that. But small steps won’t deliver the kind of transformation New Zealand needs—especially in how we grow our economy and support our people.
    We’ve always had world-class ideas in this country. The challenge has been turning them into world-class outcomes that benefit New Zealanders. The AUT Innovation Fund is a practical step toward solving that challenge—taking great ideas and helping them go further.
    So, I want to thank AUT for stepping up, and I look forward to seeing what comes from this work.
    Ngā mihi nui, and all the best for the fund and its future success.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Serious crash, Kahikatea Drive, Hamilton

    Source: New Zealand Police

    Emergency services are responding to a serious crash in Hamilton this morning, which is blocking the road near Waikato Hospital.

    The two vehicle collision has occurred around the intersection of Ohaupo and Kahikatea Drive in Melville. The road will be blocked for sometime.

    Indications are there are serious injuries. 

    MIL OSI New Zealand News –

  • MIL-OSI USA: SBA Relief Available to Arkansas Small Businesses, Private Nonprofits and Residents Affected by Severe Storms and Tornadoes

    Source: United States Small Business Administration

    SACRAMENTO, Calif. – In response to a Presidential disaster declaration issued May 8, the U.S. Small Business Administration (SBA) announced the availability of low interest federal disaster loans to Arkansas small businesses, private nonprofit (PNP) organizations and residents affected by severe storms and tornadoes occurring March 14-15.

    The disaster declaration covers the Arkansas counties of Greene, Hot Spring, Independence, Izard, Jackson, Lawrence, Randolph, Sharp, and Stone.

    Businesses and nonprofits are eligible to apply for business physical disaster loans and may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.

    Homeowners and renters are eligible to apply for home and personal property loans and may borrow up to $100,000 to replace or repair personal property, such as clothing, furniture, cars, and appliances. Homeowners may apply for up to $500,000 to replace or repair their primary residence.

    Applicants may be eligible for a loan increase of up to 20% of their physical damages, as verified by the SBA, for mitigation purposes. Eligible mitigation improvements include insulating pipes, walls and attics, weather stripping doors and windows, and installing storm windows to help protect property and occupants from future disasters.

    SBA’s Economic Injury Disaster Loan (EIDL) program is available to eligible small businesses, small agricultural cooperatives, nurseries and PNPs impacted by financial losses directly related to this disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for aquaculture enterprises.

    EIDLs are for working capital needs caused by the disaster and are available even if the business or PNP did not suffer any physical damage. They may be used to pay fixed debts, payroll, accounts payable, and other bills not paid due to the disaster.

    “One distinct advantage of SBA’s disaster loan program is the opportunity to fund upgrades reducing the risk of future storm damage,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “I encourage businesses and homeowners to work with contractors and mitigation professionals to improve their storm readiness while taking advantage of SBA’s mitigation loans.”

    Interest rates can be as low as 4% for small businesses, 3.62% for PNPs and 2.75% for homeowners and renters with terms up to 30 years. Interest does not begin to accrue, and payments are not due until 12 months from the date of the first loan disbursement. The SBA sets loan amounts and terms based on each applicant’s financial condition.

    As soon as Federal-State Disaster Recovery Centers open throughout the affected area, SBA will provide one-on-one assistance to disaster loan applicants. Additional information and details on the location of disaster recovery centers is available by calling the SBA Customer Service Center at (800) 659-2955.

    To apply online, visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

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    About the U.S. Small Business Administration

    The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

    MIL OSI USA News –

  • MIL-OSI USA: Governor Polis Signs Bills to Increase Access to Health Care and Emergency Services

    Source: US State of Colorado

    DENVER – Today, Governor Polis signed new laws that will increase access to emergency healthcare, explore new ways to save Coloradans money on health care.

    Governor Polis signed SB25-130 – Providing Emergency Medical Services, sponsored by Senators Gonzales and Weissman, and Representatives Froelich and Zokaie and SB25-045 – Health-Care Payment System Analysis, sponsored by Senator Marchman, and Representatives McCormick and Boesenecker.

    “Every Coloradan deserves access to health care they can afford. Since taking office, this has been a top focus of my administration and I’m proud of the progress we are making to reduce costs and increase access,” said Governor Jared Polis.

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    MIL OSI USA News –

  • MIL-OSI USA: DAS Office of Economic Analysis Presents the May Economic Outlook and Revenue Forecast

    Source: US State of Oregon

    arl Riccadonna, state chief economist and Michael Kennedy, senior economist of the Department of Administrative Services (DAS) Office of Economic Analysis (OEA), presented the latest economic outlook and revenue forecast to the Senate Committee on Finance and Revenue. The quarterly revenue forecasts serve to open the revenue forecasting process to public review and is the basis for much of the Oregon state government budgeting process.

    What is different about this forecast?

    The Office of Economic Analysis provides quarterly forecasts for the State of Oregon’s major revenue sources, including all sources contributing to the General Fund (Personal and Corporate Income Tax, etc.), Lottery and the Corporate Activity Tax. In May of odd years, OEA’s revenue forecast establishes the anticipated resource levels for the next biennium’s adopted budget.

    The May 2025 economic outlook brings more uncertainty and slower growth as risk factors continue to widen. Key points include:

    • The national economy was projected to grow 2% for 2025 in the previous forecast; that growth is now projected to be 0.8%, less than half the original estimate.
    • The outlook is now characterized as sluggish growth, a significant slowing in economic growth that results in a rising unemployment rate. This is distinct from a recession, which is characterized as a broad-based decline in economic activity. The probability of recession is currently estimated by OEA at 25%.
    • Oregon’s economy continues to be bound to national trends for growth and inflation.
    • Oregon’s heightened sensitivity to trade has a direct impact on personal income taxes and state labor trends although less of an impact on corporate taxes.

    Revenue Forecast

    The May revenue forecast projects the 2023-25 General Fund ending balance to be $2.17 billion, with revenues decreasing by $162.3 million.

    In the 2025-27 biennium, General Fund revenues decreasing by $337 million from the March forecast.

    About the Office of Economic Analysis

    The state chief economist oversees the Office of Economic Analysis within the Department of Administrative Services and provides objective forecasts of the state’s economy, revenue, populations, corrections population and Youth Authority population. These forecasts are used across state government, and by the public for a variety of reasons, notably to inform the state budgeting process. For more information about the Office of Economic Analysis and recent forecasts visit https://www.oregon.gov/das/oea/pages/index.aspx.

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    MIL OSI USA News –

  • MIL-OSI USA: Welch, Jayapal to Host Viewing of No Other Land at the U.S. Capitol

    US Senate News:

    Source: United States Senator Peter Welch (D-Vermont)
    WASHINGTON, D.C. – U.S. Senator Peter Welch (D-Vt.) and Representative Pramila Jayapal (WA-07) will host a panel discussion and special Capitol Hill viewing of the Academy Award winning documentary film, “No Other Land” for Members of Congress, congressional staff, civil society leaders, and members of the press. The panel of experts, moderated by journalist Mehdi Hasan, will discuss the film, settler violence in the West Bank, the expansion of Israeli settlements, and shifts in U.S. policy.  
    Event: Panel Discussion and Viewing of “No Other Land” Date and Time: Monday, May 19, 2025 at 7:00PM Location: South Orientation Theater (CVC 241), Capitol Visitor Center Panel: U.S. Senator Peter Welch (D-Vt.), Representative Pramila Jayapal (WA-07); Zaha Hassan; Dr. Debra Shushan; and Josh Paul; moderated by Mehdi Hasan. 
    RSVP: Please RSVP using this LINK 
    Entry Instructions: Please see Capitol Visitor Guidelines here. Use the main entrance near the intersection of East Capitol St NE and First St NE (by the Supreme Court and Library of Congress). Follow the signage down to the Capitol Visitor Center entrance, to the lower floor of the Visitor Center. 
    Winner of the Academy Award for Best Documentary Feature Film, “No Other Land” is directed by a collective of directors from Palestine and Israel—Basel Adra, Hamdan Ballal, Yuval Abraham, and Rachel Szor. The Oscar winning documentary follows Palestinian activist Basel Adra as he documents the demolition of his community in Masafer Yatta. It is a powerful testament to shared resistance, human rights, and the enduring struggle for justice. 
    Senator Welch and Representative Jayapal have co-led several efforts on issues related to the West Bank, including legislation to fund UNRWA. In April, Senator Welch and Representative Jayapal led 29 of their bicameral colleagues in raising the alarm over escalating violence in the West Bank. In a letter to Secretary of State Marco Rubio, the lawmakers urged the Trump Administration to immediately reinstate sanctions against individuals who perpetrate violence that undermines regional stability and security in the West Bank. The bicameral letter was in response to the violent assault of Hamdan Ballal, a director of “No Other Land.” On March 24, 2025, Mr. Ballal was attacked by a group of Israeli settlers in the village of Susiya in the occupied West Bank. Following this attack, Israeli Defense Forces arrested and detained Mr. Ballal.  

    MIL OSI USA News –

  • MIL-OSI USA: Kennedy, Ricketts, colleagues applaud President Trump’s push to dismantle Iran’s nuclear program

    US Senate News:

    Source: United States Senator John Kennedy (Louisiana)
    WASHINGTON – Sen. John Kennedy (R-La.) today joined Sen. Pete Ricketts (R-Neb.) and 50 Republican colleagues in sending a letter to President Donald Trump applauding the president’s efforts to secure a deal with Iran that dismantles its nuclear program.
    Key excerpts of the letter are below:
    “During your first term you withdrew the United States from the deeply broken Joint Comprehensive Plan of Action (JCPOA) and imposed maximum pressure on the regime. As you said then, a fatal flaw of the deal was that it ‘allowed Iran to continue enriching uranium and, over time, reach the brink of a nuclear breakout.’ The JCPOA allowed Iran to sell oil, provided waivers allowing third countries to help Iran build out its nuclear program, and included the termination of United Nations sanctions on the regime.”
    . . .
    “Tragically, the Biden administration systematically undid that pressure, functionally re-implementing the nuclear deal. They immediately rescinded your decision to reimpose U.N. sanctions, allowed Iran to sell oil at JCPOA-levels, and even re-issued waivers allowing Iran to build out its nuclear program. As you predicted, those policies indeed allowed Iran to reach the brink of nuclear breakout, which is where they are today.” 
    . . .
    “We cannot afford another agreement that enables Iran to play for time, as the JCPOA did. The Iranian regime should know that the administration has Congressional backing to ensure their ability to enrich uranium is permanently eliminated.
    “As always we stand ready to provide you and your administration whatever resources you need to advance American national security interests.”
    Sens. Ted Cruz (R-Texas), Tom Cotton (R-Ark.), John Thune (R-S.D.), Jim Risch (R-Idaho), Mike Crapo (R-Idaho), Jim Justice (R-W.Va.), Steve Daines (R-Mont.), John Curtis (R-Utah), John Cornyn (R-Texas), Kevin Cramer (R-N.D.), Chuck Grassley (R-Iowa), Dave McCormick (R-Pa.), James Lankford (R-Okla.), Tim Scott (R-S.C.), Susan Collins (R-Maine), Markwayne Mullin (R-Okla.), Tim Sheehy (R-Mont.), Rick Scott (R-Fla.), Cynthia Lummis (R-Wyo.), Jim Banks (R-Ind.), John Hoeven (R-N.D.), John Boozman (R-Ark.), Jon Husted (R-Ohio), John Barrasso (R-Wyo.), Roger Wicker (R-Miss.), Thom Tillis (R-N.C.), Shelly Moore Capito (R-W.Va.), Mike Lee (R-Utah), Katie Britt (R-Ala.), Marsha Blackburn (R-Tenn.), Ashley Moody (R-Fla.), Ted Budd (R-N.C.), Mitch McConnell (R-Ky.), Dan Sullivan (R-Alaska), Joni Ernst (R-Iowa), Cindy Hyde-Smith (R-Miss.), Mike Rounds (R-S.D.), Deb Fischer (R-Neb.), Bill Cassidy (R-La.), Todd Young (R-Ind.), Tommy Tuberville (R-Ala.), Bernie Moreno (R-Ohio), Jerry Moran (R-Kan.), Lisa Murkowski (R-Alaska), Bill Hagerty (R-Tenn.), Eric Schmitt (R-Mo.), Roger Marshall (R-Kan.), Josh Hawley (R-Mo.), Ron Johnson (R-Wis.) and Lindsey Graham (R-S.C.) also signed the letter.
    Read the full letter here.

    MIL OSI USA News –

  • MIL-OSI USA: Ernst Eliminating Unemployment Handouts to Millionaires

    US Senate News:

    Source: United States Senator Joni Ernst (R-IA)
    Published: May 14, 2025
    WASHINGTON – U.S. Senator Joni Ernst (R-Iowa) is ending the gravy train for the idle rich after a shocking report revealed that individuals earning more than a million dollars annually received over $271 million in unemployment insurance during the first two years of the Biden administration.
    Senate DOGE Caucus Chair Ernst’s Ending Unemployment Payments to Jobless Millionaires Act will disqualify anyone making a million dollars or more from being eligible for unemployment income support.
    “Our nation’s safety net shouldn’t be strained by subsidizing the lifestyles of the self-sufficient,” said Ernst. “Able-bodied millionaires shouldn’t expect handouts paid for by overtaxed and overworked Americans. The freebies for free-loading fat cats are over.”
    A Congressional Research Service analysis of tax returns from individuals and households reporting incomes of a million dollars or more found:
    In 2021, 14,972 millionaires collected $213.6 million of unemployment payments, about $14,267 each.
    In 2022, 5,773 millionaires were paid $57.6 million in jobless benefits, nearly $10,000 each.
    Click here to view the bill text.

    MIL OSI USA News –

  • MIL-OSI USA: Ernst Details How to Fuel the Great American Industrial Comeback

    US Senate News:

    Source: United States Senator Joni Ernst (R-IA)
    WASHINGTON – Today, at a U.S. Senate Committee on Small Business and Entrepreneurship hearing, Chair Joni Ernst (R-Iowa) discussed how Congress can continue to fuel the manufacturing boom across America by reigniting investment in small manufacturers.
    Ernst highlighted that small manufacturers are the key to the great American industrial comeback because they make up 98% of all manufacturing firms in the United States.
    Watch Chair Ernst’s remarks here.
    Ernst’s full remarks:
    “I am excited to hold this hearing to discuss opportunities to reignite investment in small American manufacturers and ensure our industrial future is built right here, at home.
    “America is and has always been a nation of builders — men and women who roll up their sleeves, put in a hard day’s work, and take pride not just in what they make, but what it means for their families, their communities, and their country. That entrepreneurial spirit is in our DNA.
    “For far too long, Washington looked the other way as factories and farms shut down and the jobs that once sustained many U.S. families were shipped overseas.
    “Despite the importance of domestic industrial production to our national security, production of critical goods was off shored to foreign countries.
    “In doing so, we’ve made ourselves dependent on an international supply chains offering fast, mass-produced goods — mostly coming from China.
    “This came at a cost. Not just economic, but strategic.
    “In January of this year, the U.S. recorded a $29.7 billion trade deficit with China —we’ve been massively reliant on our chief adversary for the goods and services we consume.
    “Today, the manufacturing sector comprises only 10.1 percent of America’s gross domestic product, a figure trailing most other industrialized nations.
    “We’ve left ourselves economically beholden to the rest of the world and hollowed out our industrial core that once employed millions of Americans.
    “We cannot accept that status quo.
    “I believe in a great American comeback, one driven by the world’s most talented workforce and a new era of domestic manufacturing ensuring this nation’s economic security.
    “We can make ‘Made in America’ the norm instead of the exception.
    “Thanks to President Trump’s leadership, we are already seeing the early signs of a manufacturing revival and industrial boom in Iowa and all across the country.
    “No group is more eager to lead this charge than small manufacturers, who make up 98 percent of all manufacturing firms in the United States.
    They are ready to build, ready to grow, and they want to do it here – in the United States.
    “But Washington needs to do its part.
    “It’s time Congress acts to ensure that the federal government does not stand in the way of small manufacturers.
    “We must empower them by providing them the tools they need to generate new jobs – to rebuild and fortify American supply chain stability, and to reduce our reliance on other countries, including adversaries.
    “However, breaking ground on new manufacturing facilities or upgrading existing ones is a major investment.
    “In many cases, these projects require long-term financing options, which can be particularly difficult for small businesses to access.
    “That is why I was proud to introduce the Made in America Manufacturing Finance Act, along with another member of this Committee, Senator Coons.
    “This bipartisan legislation would double the SBA-backed loan limit from $5 million to $10 million for small manufacturers.
    “By allowing manufacturers to access greater capital my legislation encourages small manufacturers to invest in their operations and support the training and expansion of our manufacturing workforce.
    “This is about leveling the playing field for American manufacturers on the world stage. It is a straightforward, commonsense, and bipartisan solution to unlock the potential small manufacturers have to secure our national and economic security.
    “I am also interested in how we can leverage another SBA program—the Small Business Investment Company (SBIC) to support small manufacturers.
    “This program supports the flow of private capital to small businesses across the country.
    “I am grateful that we’re joined today by Mr. Mickelson, from Iowa, and Mr. Geis, from Missouri, who invest in small businesses across the heartland through the SBIC program.
    “I look forward to hearing from all our witnesses about how we can best align SBA programs and private investment to spark America’s next industrial boom.
    “The independence, prosperity, and security of our next generation depends on it.
    “Thanks to our witnesses for being here today and I look forward to your testimony.”

    MIL OSI USA News –

  • MIL-OSI USA: Hoeven Pays Tribute to Nation’s Law Enforcement Officers on Senate Floor

    US Senate News:

    Source: United States Senator for North Dakota John Hoeven
    05.14.25
    Senate Passes Hoeven-Backed Resolution Designating National Police Week
    WASHINGTON – Senator John Hoeven (R-N.D.) delivered remarks on the Senate floor to pay tribute to the nation’s law enforcement officers. Hoeven delivered the remarks after the Senate unanimously passed a resolution he introduced with Senators Chuck Grassley (R-Iowa) and Dick Durbin (D-Ill.) designating May 12 through 17 as National Police Week, and reaffirming the Senate’s steadfast support for law enforcement officers across the nation.
    “We can never fully repay our police officers for such enormous sacrifices, but we can continue to show respect for our law enforcement, honor those we’ve lost and recognize the sacrifices of their families and loved ones,” said Hoeven.
    “To honor our men and women in blue, I helped introduce a resolution in the Senate commemorating National Police Week, and paying tribute to their bravery. National Police Week provides us with the opportunity to come together as a nation to honor the peace officers who put their lives on the line to protect and serve our communities.”
    Hoeven, Grassley and Durbin are joined by Senators Lindsey Graham (R-S.C.), Angus King (I-Maine), Ashley Moody (R-Fla.), Catherine Cortez Masto (D-Nev.), Susan Collins (R-Maine), Ben Ray Lujan (D-N.M.), Tim Sheehy (R-Mont.), Richard Blumenthal (D-Conn.), John Kennedy (R-La.), Christopher Coons (D-Del.), Tim Scott (R-S.C.), Ruben Gallego (D-Ariz.), Jim Risch (R-Idaho), Peter Welch (D-Vt.), Mitch McConnell (R-Ky.), Tim Kaine (D-Va.), Tommy Tuberville (R-Ala.), Amy Klobuchar (D-Minn.), Rand Paul (R-Ky.), Raphael Warnock (D-Ga.), Mike Crapo (R-Idaho), Brian Schatz (D-Hawaii), Cynthia Lummis (R-Wyo.), Alex Padilla (D-Calif.), Jim Justice (R-W.Va.), John Fetterman (D-Pa.), Katie Britt (R-Ala.), Jacky Rosen (D-Nev.), Jerry Moran (R-Kan.), Sheldon Whitehouse (D-R.I.), John Barrasso (R-Wyo.), Jeanne Shaheen (D-N.H.), Shelley Moore Capito (R-W.Va.), Kirsten Gillibrand (D-N.Y.), Rick Scott (R-Fla.), Jon Ossoff (D-Ga.), Pete Ricketts (R-Neb.), Tammy Duckworth (D-Ill.), Jim Banks (R-Ind.), Mark Kelly (D-Ariz.), Kevin Cramer (R-N.D.), Andy Kim (D-N.J.), Joni Ernst (R-Iowa), Tammy Baldwin (D-Wis.), Ted Budd (R-N.C.), Gary Peters (D-Mich.), Thom Tillis (R-N.C.), Maria Cantwell (D-Wash.), Cindy Hyde-Smith (R-Miss.), Mark Warner (D-Va.), Roger Marshall (R-Kan.), Elissa Slotkin (D-Mich.), Steve Daines (R-Mont.), Margaret Hassan (D-N.H.), Marsha Blackburn (R-Tenn.), Adam Schiff (D-Calif.), Deb Fischer (R-Neb.), Michael Bennet (D-Colo.), Lisa Murkowski (R-Alaska), Bill Hagerty (R-Tenn.), John Cornyn (R-Texas), Mike Lee (R-Utah), Mike Rounds (R-S.D.), John Thune (R-S.D.), Bernie Moreno (R-Ohio), Ted Cruz (R-Texas), Tom Cotton (R-Ark.), Jon Husted (R-Ohio), James Lankford (R-Okla.), Roger Wicker (R-Miss.), Eric Schmitt (R-Mo.), Markwayne Mullin (R-Okla.), Todd Young (R-Ind.), Josh Hawley (R-Mo.), Dan Sullivan (R-Alaska), Dave McCormick (R-Pa.), Cory Booker (D-N.J.), Bill Cassidy (R-La.) and John Boozman (R-Ark.). 
    Full text of the resolution can be found here. 

    MIL OSI USA News –

  • MIL-OSI USA: Senator Coons meets with Chief of the National Guard Bureau

    US Senate News:

    Source: United States Senator for Delaware Christopher Coons
    WASHINGTON – U.S. Senator Chris Coons (D-Del.), Ranking Member of the Senate Appropriations Subcommittee on Defense, met yesterday with General Steven Nordhaus, Chief of the National Guard Bureau.
    During their meeting, Senator Coons discussed ways he can support the National Guard through his new role as the lead Senate Democrat in charge of defense spending. Senator Coons also pressed General Nordhaus about Delaware’s National Guard priorities, including the provision of C-130J cargo planes to the Delaware National Guard and the expansion of the State Partnership Program (SPP), which links National Guard units from states across the country with the militaries of partner nations for mutual training, disaster relief, and other purposes. Delaware is paired with Trinidad and Tobago through the SPP.
    “National Guard units around the country serve vital functions for our nation across a number of areas from disaster relief to military readiness to joining the fight on the front lines when called upon,” said Senator Coons. “I enjoyed meeting with General Nordhaus to better understand how the Senate can fund the National Guard more effectively and ensure that every state, including Delaware, benefits from hosting National Guard units.”

    MIL OSI USA News –

  • MIL-OSI Security: Florida Financial Advisor Sentenced for Promoting Illegal Tax Shelter and Stealing Client Funds

    Source: United States Department of Justice

    A Florida financial advisor was sentenced today to eight years in prison for orchestrating a nearly decade-long scheme to promote an illegal tax shelter and to steal client funds.

    The following is according to court documents and statements made in court: Stephen T. Mellinger III, of Delray Beach, was a financial advisor, insurance salesman, and securities broker operating in Florida, Michigan, Mississippi, and elsewhere. Beginning in late 2013, Mellinger conspired with others to promote an illegal tax shelter whereby clients would claim false tax deductions for so-called “royalty payments” to fraudulently reduce their taxes. In reality, the “royalty payments” were merely a circular flow of money designed to give the appearance of genuine business expenses. Typically, a client would send money to bank accounts controlled by Mellinger and his co-conspirators, who then sent the money, minus a fee, to a different bank account that the client controlled. Tax shelter participants retained control of the money they transferred, while falsely deducting the transfers as business expenses on their tax returns.

    In total, Mellinger and his co-conspirators helped clients prepare tax returns that claimed over $106 million in false tax deductions, which caused a tax loss to the IRS of approximately $37 million. Mellinger and a co-conspirator, who was a relative, collectively earned approximately $3 million in fees from the scheme.

    In January 2016, Mellinger learned that several of his clients were under investigation and that the United States had started seizing their funds. Mellinger and the relative subsequently stole more than $2.1 million from some of the clients, a portion of which Mellinger used to buy a home in Delray Beach.

    In addition to the prison sentence, U.S. District Judge Keith Starrett for the Southern District of Mississippi ordered Mellinger to serve three years of supervised release and to pay approximately $37 million in restitution to the United States.

    Acting Deputy Assistant Attorney General Karen E. Kelly of the Justice Department’s Tax Division, Matthew R. Galeotti, Head of the Justice Department’s Criminal Division, Acting U.S. Attorney Patrick Lemon for the Southern District of Mississippi, Special Agent in Charge Demetrius Hardeman of IRS Criminal Investigation’s Atlanta Field Office, and Deputy Inspector General for Investigations and Director of DCIS Kelly P. Mayo made the announcement.

    IRS Criminal Investigation and the Department of Defense Office of Inspector General’s Defense Criminal Investigative Service (DCIS) are investigating the case.

    Trial Attorneys Richard J. Hagerman, William Montague and Matthew Hicks of the Tax Division, Trial Attorneys Emily Cohen and Jasmin Salehi Fashami of the Criminal Division’s Money Laundering and Asset Recovery Section (MLARS), and Assistant U.S. Attorney Charles W. Kirkham for the Southern District of Mississippi are prosecuting the case.

    MIL Security OSI –

  • MIL-OSI: $HAREHOLDER ALERT: The M&A Class Action Firm Continues To Investigate The Merger – DNB, BRDG, LNSR, SSBK

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, May 14, 2025 (GLOBE NEWSWIRE) — Monteverde & Associates PC (the “M&A Class Action Firm”), has recovered millions of dollars for shareholders and is recognized as a Top 50 Firm in the 2024 ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating:

    • Dun & Bradstreet Holdings, Inc. (NYSE: DNB), relating to the proposed merger with Clearlake Capital Group, L.P. Under the terms of the agreement, Dun & Bradstreet shareholders will receive $9.15 in cash for each share of common stock they own.

    ACT NOW. The Shareholder Vote is scheduled for June 12, 2025.
            
    Click here for more https://monteverdelaw.com/case/dun-bradstreet-holdings-inc-dnb/. It is free and there is no cost or obligation to you.

    • Bridge Investment Group Holdings Inc. (NYSE: BRDG), relating to the proposed merger with Apollo. Under the terms of the agreement, Bridge stockholders and Bridge OpCo unitholders will receive 0.07081 shares of Apollo stock for each share of Bridge Class A common stock and each Bridge OpCo Class A common unit, respectively.

    ACT NOW. The Shareholder Vote is scheduled for June 17, 2025.

    Click here for more https://monteverdelaw.com/case/bridge-investment-group-holdings-inc-brdg/. It is free and there is no cost or obligation to you.

    • LENSAR, Inc. (NASDAQ: LNSR), relating to the proposed merger with Alcon. Under the terms of the agreement, LENSAR shareholders will receive $14.00 per share, with an additional non-tradeable contingent value right offering up to $2.75 per share in cash conditioned on the achievement of certain milestones.

    Click here for more https://monteverdelaw.com/case/lensar-inc-lnsr/. It is free and there is no cost or obligation to you.

    • Southern States Bancshares, Inc. (NASDAQ: SSBK), relating to the proposed merger with FB Financial Corporation. Under the terms of the agreement, Southern States’ shareholders will receive 0.800 shares of FB Financial common stock for each share of Southern States stock.

    Click here for more https://monteverdelaw.com/case/southern-states-bancshares-inc-ssbk/. It is free and there is no cost or obligation to you.

    NOT ALL LAW FIRMS ARE THE SAME. Before you hire a law firm, you should talk to a lawyer and ask:

    1. Do you file class actions and go to Court?
    2. When was the last time you recovered money for shareholders?
    3. What cases did you recover money in and how much?

    About Monteverde & Associates PC

    Our firm litigates and has recovered money for shareholders…and we do it from our offices in the Empire State Building. We are a national class action securities firm with a successful track record in trial and appellate courts, including the U.S. Supreme Court. 

    No company, director or officer is above the law. If you own common stock in any of the above listed companies and have concerns or wish to obtain additional information free of charge, please visit our website or contact Juan Monteverde, Esq. either via e-mail at jmonteverde@monteverdelaw.com or by telephone at (212) 971-1341.

    Contact:
    Juan Monteverde, Esq.
    MONTEVERDE & ASSOCIATES PC
    The Empire State Building
    350 Fifth Ave. Suite 4740
    New York, NY 10118
    United States of America
    jmonteverde@monteverdelaw.com
    Tel: (212) 971-1341

    Attorney Advertising. (C) 2025 Monteverde & Associates PC. The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com).  Prior results do not guarantee a similar outcome with respect to any future matter.

    The MIL Network –

  • MIL-OSI: After iOS Traction, AI Pet Travel App Kruiz, Announces Android Launch

    Source: GlobeNewswire (MIL-OSI)

    Irvine, California, May 14, 2025 (GLOBE NEWSWIRE) — Co-founders Brad Pauer and Angela Le had confirmed—twice—that their dog could fly in-cabin on a trip to London. But a last-minute policy change at Heathrow Airport left them stranded, out thousands of dollars, and without options. That single moment sparked the creation of Kruiz—the first AI-powered travel assistant built to transform how pet parents explore the world with their animals.

    And now, after a successful iOS launch in April, Kruiz is officially coming to Android by the end of May 2025—something many users have been asking for since day one.

    “We’ve heard from Android users around the world: ‘When is it our turn?’” says Brad Pauer, CEO and co-founder. “This launch is about inclusion, accessibility, and delivering on our promise to make pet travel effortless for every kind of traveler.”

    From Frustration to Innovation

    For millions of pet parents, travel still feels like a gamble. Airline policies shift without notice. Fees and forms are buried in PDFs. A single oversight—like showing up with the wrong-sized carrier—can derail an entire trip.

    Kruiz solves that. Built by real pet travelers, not travel agents, Kruiz aggregates the most up-to-date travel rules and policies, combining verified data sources and AI to give pet parents instant, personalized guidance on airline fees, documentation, carrier sizes, and more—all through an intuitive chatbot experience.

    Think of it as ChatGPT, but trained specifically for pet travel—and backed by a community that’s been in your shoes.

    A Movement, Not Just an App

    Before even launching publicly, Kruiz secured 10+ strategic partnerships, won the Audience Choice Award at UC Berkeley’s LAUNCH Accelerator, and validated deep market interest. Now live on iOS, the app has seen rapid early adoption with hundreds of users in its first few weeks—a strong signal of product-market fit ahead of its Android release in May 2025.

    But beyond awards and downloads, Kruiz is resonating for a deeper reason: it speaks directly to the overlooked traveler. The kind who sees pets as family, not cargo. The kind who just wants someone—anyone—to make things easier.

    “Pet travel has always been fragmented,” said Pauer. “We’re not just filling a gap—we’re reimagining what the travel experience can feel like: stress-free and inclusive.”

    What’s Next

    With the Android release now on deck, Kruiz is also preparing to roll out new features in summer 2025—including hotel and flight booking, car rentals, and international travel support. Kruizy, the AI assistant at the heart of the app, continues to learn and adapt with every user interaction.

    And while the technology is powerful, the mission stays simple: give pet parents peace of mind, wherever they go.

    The Kruiz Android app will be available for download in the Google Play Store by the end of May 2025.

    To learn more, visit Kruiz.co or follow @letskruiz on Instagram, TikTok, and LinkedIn.

    The MIL Network –

  • MIL-OSI United Nations: In Berlin, broad backing for UN peacekeeping as global threats mount

    Source: United Nations – Peacekeeping

    By Vibhu Mishra

    More than 130 countries and international partners threw their weight behind UN peacekeeping at a high-level ministerial summit in Berlin on Wednesday, pledging military, tech and political support.

    UN Secretary-General António Guterres meanwhile warned that peace operations are under growing strain and must adapt to meet today’s rising threats.

    The two-day conference on peacekeeping, hosted by the Government of Germany, brought together over 1,000 participants – including defence and foreign ministers – to reaffirm commitment to the UN’s flagship tool for maintaining peace and stability.

    It concluded on Wednesday with a wide array of pledges, including 88 military and police units, specialized training, and investments in emerging technologies and strategic communications.

    Difference between life and death

    “In trouble spots around the world, ‘blue helmets’ can mean the difference between life and death,” Mr. Guterres said in his opening remarks.

    “Now more than ever, the world needs the United Nations. And the United Nations needs peacekeeping that is fully equipped for today’s realities and tomorrow’s challenges.”

    Germany, which currently contributes troops to UN missions in South Sudan, Lebanon, and Western Sahara, announced €82 million (around $91.7 million) in funding, along with commitments in training, renewable energy solutions and drone technology.

    “Germany continues to be a steadfast supporter of UN peacekeeping,” said Defense Minister Boris Pistorius.

    Broad and diverse commitments

    A total of 74 UN Member States made specific pledges, ranging from uniformed personnel to training and strategic support.

    This includes pledges which will bolster military and police units, including airlift and rapid deployment capabilities (53 national contributions), specialized training (59), technological enhancements (18), advancing the Women, Peace and Security Agenda (38) and safety and protection (16).

    Eleven countries also committed to improving accountability and conduct, including support to the trust fund for victims of sexual exploitation and abuse, and eight nations supporting the UN’s efforts to counter mis- and disinformation through strategic communications.

    Mounting pressures

    At a press conference following the meeting, Secretary-General Guterres acknowledged that peacekeepers operate in an increasingly complex and dangerous environment, citing a record number of global conflicts, the targeting of peacekeepers by drones and improvised explosive devices (IEDs) and the rising threat from disinformation campaigns.

    “We need to ask some tough questions about the mandates guiding these operations, and what the outcomes and solutions should look like,” he said, speaking alongside German Foreign Minister Johann Wadephul and Defence Minister Pistorius.

    “Every context is different, and missions must be adapted accordingly.”

    The UN chief also stressed the importance of sustained financial backing, highlighting that many missions continue to struggle with cash flow shortages due to delayed payments from Member States.

    “It is absolutely essential that all Member States respect their financial obligations, paying their contributions in full and on time,” he said.

    Crucial reforms

    The Berlin meeting feeds into the UN’s broader reform efforts, including an ongoing Review of Peace Operations announced in last year’s Pact for the Future, aimed at making peacekeeping and peace enforcement more flexible, cost-effective, and aligned with real-world needs.

    This year’s Ministerial also coincides with the 80th anniversary of the United Nations and the 10-year anniversary of the 2015 New York Summit on Peacekeeping. It follows similar high-level meetings in Accra, Seoul, Vancouver and London.

    Peacekeeping remains one of the UN’s most visible activities, with over 61,000 uniformed personnel from 119 countries currently deployed across 11 missions, supported by more than 7,000 civilian staff.

    MIL OSI United Nations News –

  • MIL-OSI Canada: February, March 2025 unregulated drug toxicity data released

    According to preliminary data, 132 people in February and 143 people in March 2025 died due to unregulated drug toxicity, as reported by the BC Coroners Service.

    In the first three months of 2025, deaths among those between the ages of 30 and 59 accounted for 67% of drug-toxicity deaths in the province, and 76% were male.

    March marks the sixth consecutive month in which the number of deaths reported to the BC Coroners Service attributed to unregulated drug toxicity was below 160.

    By health authority in 2025, the highest number of unregulated drug deaths were in Fraser and Vancouver Coastal health authorities (141 and 114 deaths, respectively), making up 60% of all such deaths during 2025.

    Consistent with reporting throughout the public-health emergency, fentanyl and its analogues continue to be the most common substance detected in expedited toxicological testing. More than three-quarters of decedents who underwent expedited testing in 2025 were found to have fentanyl in their systems (70%), followed by methamphetamine (50%) and fluorofentanyl (47%).

    It is important to note that data from the report is preliminary and subject to change as additional toxicological results are received and investigations conclude.

    Additional key findings in 2025 include:

    • the number of unregulated drug deaths in February and March equates to approximately 4.7 and 4.6 deaths per day;
    • the cities experiencing the highest number of unregulated drug deaths so far in 2025 are Vancouver (97), Surrey (52) and Greater Victoria (28);
    • the highest rates of deaths reported were in the Interior and Northern Health (35 per 100,000);
    • 45% of deaths reported occurred in a private residence, compared with 20% outdoors; and
    • smoking continues to be the primary mode of consumption of unregulated toxic drugs, with 62% of investigations indicating the decedent smoked their substances.

    Learn More:

    February and March 2025 drug-toxicity deaths: https://app.powerbi.com/view?r=eyJrIjoiNjhiYjgxYzUtYjIyOC00ZGQ2LThhMzEtOWU5Y2Q4YWI0OTc5IiwidCI6IjZmZGI1MjAwLTNkMGQtNGE4YS1iMDM2LWQzNjg1ZTM1OWFkYyJ9

    Youth unregulated drug-toxicity deaths, 2019-23: youth_unregulated_drug_toxicity_deaths_in_bc_2019-2023.pdf (gov.bc.ca)

    BC Coroners Service Death Review Panel: An Urgent Response to a Continuing Crisis: https://www2.gov.bc.ca/assets/gov/birth-adoption-death-marriage-and-divorce/deaths/coroners-service/death-review-panel/an_urgent_response_to_a_continuing_crisis_report.pdf

    BC Ministry of Health mental-health and substance-use supports: https://helpstartshere.gov.bc.ca/

    BC Centre on Substance Use: https://www.bccsu.ca

    MIL OSI Canada News –

  • MIL-OSI Canada: Anthrax Confirmed in Cattle in the RM of Paynton No. 470

    Source: Government of Canada regional news

    Released on May 14, 2025

    Saskatchewan Agriculture is reminding producers to be on the lookout for anthrax in their animals after anthrax was confirmed by laboratory results on May 13 as the cause of death in cattle in the Rural Municipality (RM) of Paynton No. 470. 

    Anthrax is caused by the bacteria Bacillus anthracis, which can survive in spore form for decades in soil. Changes in soil moisture, from flooding and drying, can lead to a build-up of spores on pastures. Spores can concentrate in sloughs and potholes, and the risk of animal exposure to anthrax increases in drier years when these areas dry up and become accessible. Spores can also surface when the ground is excavated or when there is excessive run-off.

    Livestock are infected when they eat forage contaminated with spores. Ruminants such as bison, cattle, sheep and goats are highly susceptible, and horses can also be infected. Swine, birds and carnivores are more resistant to infection, but farm dogs and cats should be kept away from carcasses.

    Affected animals are usually found dead without any signs of illness. Anthrax can be prevented by vaccination. Producers in regions that have experienced previous outbreaks are strongly encouraged to vaccinate their animals each year. If your neighbours have anthrax, you should consider vaccination to protect your animals.

    The carcasses of any animal suspected of having anthrax should not be moved or disturbed and should be protected from scavengers such as coyotes or ravens, to prevent spreading spores in the environment.

    Anyone who suspects anthrax should contact their local veterinarian immediately for diagnosis. All tests must be confirmed by a laboratory diagnosis. All positive test results must be immediately reported to the provincial Chief Veterinary Officer.

    Producers are advised to use caution when handling potentially infected animals or carcasses. Animal cases pose minimal risk to humans, but people can get infected through direct contact with sick animals or carcasses. In cases where people believe they have been exposed to an infected animal, they should contact their local health authority or physician for advice.

    More information on Saskatchewan Agriculture’s anthrax response plan can be found here: https://www.saskatchewan.ca/business/agriculture-natural-resources-and-industry/agribusiness-farmers-and-ranchers/livestock/animal-health-and-welfare/anthrax.

    -30-

    For more information, contact:

    MIL OSI Canada News –

  • MIL-OSI: ArrowMark Financial Corp. Releases Month End Estimated Net Asset Value as of April 2025

    Source: GlobeNewswire (MIL-OSI)

    DENVER, May 14, 2025 (GLOBE NEWSWIRE) — ArrowMark Financial Corp., (NASDAQ: BANX) (“ArrowMark Financial”), today announced that BANX’s estimated and unaudited Net Asset Value (“NAV”) as of April 30, 2025, was $21.74.

    This estimated NAV is not a comprehensive statement of our financial condition or results for the month April 30, 2025.

    About ArrowMark Financial Corp.
    ArrowMark Financial Corp. is an SEC registered non-diversified, closed-end fund listed on the NASDAQ Global Select Market under the symbol “BANX.” Its investment objective is to provide shareholders with current income. BANX pursues its objective by investing primarily in regulatory capital securities of financial institutions. BANX is managed by ArrowMark Asset Management, LLC. To learn more, visit ir.arrowmarkfinancialcorp.com, or contact Destra at 877.855.3434 or by email at BANX@destracapital.com.

    Disclaimer and Risk Factors:
    There is no assurance that ArrowMark Financial will achieve its investment objective. ArrowMark Financial is subject to numerous risks, including investment and market risks, management risk, income and interest rate risks, banking industry risks, preferred stock risk, convertible securities risk, debt securities risk, liquidity risk, valuation risk, leverage risk, non-diversification risk, credit and counterparty risks, market at a discount from net asset value risk and market disruption risk. Shares of closed-end investment companies may trade above (a premium) or below (a discount) their net asset value. Shares of ArrowMark Financial may not be appropriate for all investors. Investors should review and consider carefully ArrowMark Financial’s investment objective, risks, charges and expenses. Past performance does not guarantee future results.

    The Annual Report, Semi-Annual Report and other regulatory filings of the Company with the SEC are accessible on the SEC’s website at www.sec.gov and on the BANX’s website at ir.arrowmarkfinancialcorp.com.

    Contact:
    BANX@destracapital.com

    The MIL Network –

  • MIL-OSI: North American Construction Group Ltd. Announces Results for the First Quarter Ended March 31, 2025

    Source: GlobeNewswire (MIL-OSI)

    ACHESON, Alberta, May 14, 2025 (GLOBE NEWSWIRE) — North American Construction Group Ltd. (“NACG”) (TSX:NOA/NYSE:NOA) today announced results for the first quarter ended March 31, 2025. Unless otherwise indicated, financial figures are expressed in Canadian dollars, and comparisons are to the prior period ended March 31, 2024.

    First Quarter 2025 Highlights:

    • Combined revenue of $391.5 million, the second-highest quarter in company history, compared favorably to $345.7 million in the same period last year and was driven equally by higher heavy equipment fleet commissioned in Australia and higher equipment utilization in Canada.
    • Reported revenue of $340.8 million, compared to $297.0 million in the same period last year, was driven primarily by increased capacity in Australia and a 68% utilization in Canada. However, lower utilization in Australia, due to the high number of rain days in February and March, far exceeding historical average, tempered overall performance.
    • Our net share of revenue from equity consolidated joint ventures was $50.7 million in 2025 Q1, compared to $48.7 million in the same period last year. While the Fargo project saw a quarter-over-quarter increase, this was offset by lower volumes within the Nuna Group of Companies and the discontinuation of the Brake Supply joint venture.
    • Adjusted EBITDA of $99.9 million was a slight increase of $2.5 million, or 3%, compared to the 2024 Q1 result of $97.4 million. However, the operational challenges of excessive rainfall in Australia and an extended bitter cold snap in Canada fully offset the 15% increase in revenue.
    • Combined gross profit of $51.6 million and margin of 13.2% declined compared to the $62.4 million and 18.1% metrics posted in the same period last year. The overall margin decrease reflects the specific impacts of rain and cold weather in Australia and Canada.
    • Cash flows generated from operating activities reached $51.4 million, exceeding the $19.0 million reported in the same period last year, primarily due to a lower working capital draw in the current quarter. Sustaining capital additions of $89.9 million reflect the front-loaded nature of our capital maintenance program in Canada.
    • Free cash flow resulted in a use of cash of $41.6 million in the quarter, driven by the consumption of $24.5 million by our working capital accounts. The working capital draw on cash remains directionally consistent to 2024 Q1 and aligns with the typical seasonal impacts of our annual business cycle.
    • Net debt was $867.5 million at March 31, 2025, an increase of $11.3 million from December 31, 2024, as free cash flow usage and growth spending required debt financing. The cash-related interest rate during the quarter on our debt was 6.2% due to Bank of Canada posted rates and the impact on equipment financing rates.
    • Additional highlights during and after the quarter: i) the Fargo-Moorhead flood diversion project passed the 65% completion mark prior to March 31; ii) successfully commenced the early development work at a copper mine in New South Wales; iii) first operational wins achieved under the new Finning parts and component supply and services agreement; iv) converted $73 million of debentures to 3.0 million common shares; and v) on May 1, completed $225 million of senior unsecured financing to increase liquidity as we advance efforts on heavy civil infrastructure and mining opportunities in Australia and North America.

    Joe Lambert, President and CEO stated, “It’s no surprise that severe weather impacts our business, and Q1 2025 proved especially challenging across both geographies. However, we remain optimistic about the more stable conditions expected for the remainder of the year. Our full-year expectations remain intact, and we are eager to execute the contracted scopes for our customers. We continue to see significant opportunities and tailwinds in the heavy civil infrastructure and mining industries in Australia and North America and are diligently advancing efforts to secure new scopes, leveraging our strong reputation in these regions.”

    Consolidated Financial Highlights

        Three months ended    
        March 31,    
    (dollars in thousands, except per share amounts)     2025     2024   Change
    Revenue   $ 340,833     $ 297,026     $ 43,807  
    Cost of sales(i)     242,228       195,670       46,558  
    Depreciation(i)     60,714       47,862       12,852  
    Gross profit(i)   $ 37,891     $ 53,494     $ (15,603 )
    Gross profit margin(i)(ii)     11.1 %     18.0 %   (6.9 )%
    General and administrative expenses (excluding stock-based compensation)(ii)     11,090       10,835       255  
    Stock-based compensation (benefit) expense     (3,408 )     3,608       (7,016 )
    Operating income(i)     30,582       38,480       (7,898 )
    Interest expense, net     13,516       15,597       (2,081 )
    Net income(i)     6,163       11,511       (5,348 )
    Comprehensive income(i)     6,641       10,818       (4,177 )
                 
    Adjusted EBITDA(i)(ii)     99,932       97,386       2,546  
    Adjusted EBITDA margin(i)(ii)(iii)     25.5 %     28.2 %   (2.7 )%
                 
    Per share information            
    Basic net income per share   $ 0.22     $ 0.43     $ (0.21 )
    Diluted net income per share   $ 0.21     $ 0.39     $ (0.18 )
    Adjusted EPS(ii)   $ 0.52     $ 0.79     $ (0.27 )

    (i)The prior year amounts are adjusted to reflect a change in policy. See “Accounting Estimates, Pronouncements and Measures”.
    (ii)See “Non-GAAP Financial Measures”.
    (iii)Adjusted EBITDA margin is calculated using adjusted EBITDA over total combined revenue.

        Three months ended
        March 31,
    (dollars in thousands)     2025       2024  
    Consolidated Statements of Cash Flows        
    Cash provided by operating activities(i)   $ 51,418     $ 18,959  
    Cash used in investing activities(i)     (93,781 )     (66,095 )
    Effect of exchange rate on changes in cash     (1,075 )     (99 )
    Add back of growth and non-cash items included in the above figures:        
    Growth capital additions(ii)     28,066       19,607  
    Capital additions financed by leases(ii)     (26,203 )     (14,156 )
    Free cash flow(i)   $ (41,575 )   $ (41,784 )

    (i)The prior year amounts are adjusted to reflect a change in policy. See “Accounting Estimates, Pronouncements and Measures”.
    (ii)See “Non-GAAP Financial Measures”.

    Declaration of Quarterly Dividend

    On May 14th, 2025, the NACG Board of Directors declared a regular quarterly dividend (the “Dividend”) of twelve Canadian cents ($0.12) per common share, payable to common shareholders of record at the close of business on June 4, 2025. The Dividend will be paid on July 11, 2025, and is an eligible dividend for Canadian income tax purposes.

    Resignation of Vanessa Guthrie

    Effective May 14, 2025, Dr. Vanessa Guthrie, AO, resigned from her position as a director of NACG for personal reasons. Martin Ferron, Chair of the Board, stated “We wish to extend our sincerest thanks to Dr. Guthrie for the insight and perspectives she brought to the company during what was an important transitional period for us as we expanded operations into Australia. We wish her all the best in the future.”

    Results for the Three Months Ended March 31, 2025

    Revenue of $340.8 million represented a $43.8 million (or 15%) increase from 2024 Q1 as Heavy Equipment – Australia and Heavy Equipment – Canada were up 18% and 13%, respectively.

    Revenue within Heavy Equipment – Australia, which is primarily comprised of the MacKellar Group (“MacKellar”), increased $23.8 million quarter-over-quarter primarily due to a 25% increase in the large capacity heavy equipment fleet over the past twelve months. This fleet increase was offset by the 12% decrease in equipment utilization (68% versus 2024 Q1 of 80%) as the high number of rain days experienced in both February and March well exceeded historical averages and operational expectations. The Carmichael mine was significantly affected by rain, receiving over 340 mm of rainfall over the two months, nearly double the historical average and our forecast of 180 mm. Excessive rainfall caused the slowdown of mining activity and the parking of the large capacity heavy mining equipment due to flooding of the lower lying mining areas as well as certain mine, access and service roads requiring additional maintenance.

    Equipment utilization in the oil sands region of 68% drove a 13% increase from 2024 Q1 in the Heavy Equipment – Canada segment. Demand for large capacity heavy equipment was strong for the full quarter, with top-line performance constrained only by extended periods of cold weather and mechanical availability. The Millennium mine currently has approximately 40% of our fleet operating on site and is the primary driver of both equipment utilization and top-line revenue.

    Combined revenue in the quarter of $391.5 million, the second-highest quarter in company history, represented a $45.8 million (or 13%) increase from 2024 Q1. Our share of revenue generated in the quarter by joint ventures and affiliates was $50.7 million, compared to $48.7 million in 2024 Q1 (an increase of 4%) with quarter-over-quarter increases in the Fargo project offset by lower volumes within the Nuna Group of Companies (“Nuna”) as well as the termination of the Brake Supply Joint Venture which occurred in the latter half of 2024. The Fargo project progressed past the 65% completion mark during the quarter with the modest top-line revenue reflecting the expected impact of winter conditions on civil earth-moving scopes.

    Adjusted EBITDA of $99.9 million was a slight increase of $2.5 million, or 3%, from the 2024 Q1 result of $97.4 million as the operational challenges of excessive rainfall in Australia and a bitter extended cold snap in Canada fully offset the 15% increase in revenue. The adjusted EBITDA margin of 25.5% was lower compared to the previous quarter, primarily due to the challenging weather conditions in both segments, which affected operational efficiency. 2024 Q1, which experienced typical seasonal conditions, posted a 28.2% adjusted EBITDA margin with the approximate 3.0% variance being a fair reflection of the weather’s impact to 2025 Q1.

    Excessive rainfall in Australia in February and March impacted operating margins with the Carmichael mine being the most affected in terms of the sheer quantity of rainfall experienced in those two months. Steady margin performance depends on the continuous operation of the primary fleet of large capacity heavy mining equipment. When this equipment is parked due to weather or other interruptions, not only is top-line revenue constrained, but it also becomes an opportune time to perform certain maintenance activities. While these activities support longer-term equipment reliability and utilization, they can increase costs, impacting margins in the current quarter. Additionally, rain days contribute to further cost pressures, as they introduce expenses not typically incurred during normal operations, such as site cleanup, dewatering, and related weather recovery efforts.

    Based on historical precedent, gross margins at that site were over 10% lower than operational expectation and drove the decrease in gross profit margin in this segment from 24.7% in 2024 Q1 to 16.1% in 2025 Q1.

    The extreme cold snap in the oil sands region in February impacted operating margins with all five operating sites being equally affected. This segment gross profit margin of 5.5% was impacted significantly by this cold weather with the correlated high idle time and required additional cost incurred to operate at frigid temperatures for an extended period of time. Using 2024 Q1 and 2023 Q1 as reasonable benchmarks, it is estimated that the cold weather impacted gross profit margin by approximately 5.0% to 7.0%. In addition to the weather, extraordinary early component failures related to the now discontinued component supply agreement with a third-party vendor impacted margins by $4.3 million in the quarter.

    Depreciation of our equipment fleet was 17.8% of revenue in the quarter, compared to 16.1% in 2024 Q1. The Heavy Equipment – Canada fleet averaged approximately 24.0% of revenue due to required high idle time in February. This is offset by depreciation on the Heavy Equipment – Australia fleet, which averaged approximately 12.4% of revenue, largely driven by MacKellar depreciation of 13.0% of revenue in the quarter. On a combined basis, depreciation averaged 17.1% of combined revenue in the quarter, compared to 15.0% in 2024 Q1, due to high depreciation experienced in Canada during the quarter.

    General and administrative expenses (excluding stock-based compensation) were $11.1 million, or 3.3% of revenue, compared to $10.8 million, or 3.6% of revenue, in 2024 Q1. Cash related interest expense incurred on our debt for the quarter was $12.9 million at an average cost of debt of 6.2%, compared to 8.1% in 2024 Q1, as rate decreases posted by the Bank of Canada directly impact our Credit Facility and have a delayed impact on the rates for secured equipment-backed financing.

    Adjusted earnings per share (“EPS”) of $0.52 and adjusted net earnings of $14.5 million were down 34.2% and 31.0% from the prior year figures of $0.79 and $21.0 million, respectively. The $6.5 million decrease in adjusted net earnings is due to the slightly higher EBITDA being more than offset by the higher depreciation expenses, as discussed above, as well as higher interest expenses associated with the fleet acquired and debt assumed upon acquisition of MacKellar.

    Adjusted earnings per share (“EPS”) of $0.52 was down $0.27 per share from the prior year figure of $0.79 per share primarily from the factors mentioned above. Weighted-average common shares outstanding for the first quarters of 2025 and 2024 were 27,859,886 and 26,733,473, respectively.

    Between January 29 and February 28, 2025, approximately 3.0 million common shares were issued to convertible debenture holders for a value of $72.7 million and which contributed approximately $0.02 in the aforementioned quarter-over-quarter adjusted earnings per share variance of $0.27 per share.

    Free cash flow was a use of cash of $41.6 million in the quarter primarily due to the consumption of $24.5 million by our working capital accounts. The working capital draw on cash is directionally consistent to 2024 Q1 and is comparable with past seasonal impacts of our annual business cycle. Adjusted EBITDA generated $99.9 million and when factoring in sustaining capital additions ($89.9 million) and cash interest paid ($16.2 million), $6.2 million of cash was used by the overall business in the quarter.

    Business Updates

    2025 Strategic Focus Areas

    • Safety – maintain our uncompromising commitment to health and safety while elevating the standard of excellence in the field, particularly with regards to front-line leadership training;
    • Operational excellence – put into action practical and experienced-based protocols to ensure predictable high-quality project execution in Australia;
    • Execution – enhance equipment availability in Canada through improved fleet maintenance, equipment telematics and reliability programs, technical improvements and management systems;
    • Integration – utilize recently implemented ERP at MacKellar Group to optimize business processes to lower overall costs and improve working capital management;
    • Organic growth – based on strong site operating performance, leverage customer satisfaction to earn contract extensions and expansions
    • Diversification – pursue diversification of customers and resources through strategic partnerships, industry expertise and investment in Indigenous joint ventures; and
    • Sustainability – further develop and deliver into our environmental, social, and governance goals.

    Liquidity

    Our current liquidity positions us well moving forward to fund organic growth and the required correlated working capital investments. Including equipment financing availability and factoring in the amended Credit Facility agreement, total available capital liquidity of $198.5 million includes total liquidity of $147.2 million and $32.9 million of unused finance lease borrowing availability as at March 31, 2025. Liquidity is primarily provided by the terms of our $524.7 million credit facility which allows for funds availability based on a trailing twelve-month EBITDA as defined in the agreement, and is now scheduled to expire in May 2028.

        March 31,
    2025    		   December 31,
    2024
    Cash   $ 78,241     $ 77,875  
    Credit Facility borrowing limit     524,675       522,550  
    Credit Facility drawn     (421,702 )     (395,844 )
    Letters of credit outstanding     (33,998 )     (33,992 )
    Cash liquidity(i)   $ 147,216     $ 170,589  
    Finance lease borrowing limit     400,000       400,000  
    Other debt borrowing limit     20,000       20,000  
    Equipment financing drawn     (310,362 )     (253,639 )
    Guarantees provided to joint ventures     (58,314 )     (61,675 )
    Total capital liquidity(i)   $ 198,540     $ 275,275  

    (i)See “Non-GAAP Financial Measures”.

    Subsequent to the three months ended March 31, 2025, on April 25, 2025, we announced that we entered into an underwriting agreement to sell, pursuant to a private placement offering, $225 million aggregate principal amount of 7.75% Senior Unsecured Notes due May 1, 2030 (the “Notes”). The agreement closed on May 1, 2025. The Notes were issued at a price of $1,000 per $1,000 of Notes. The Notes will accrue interest at the rate of 7.75% per annum, payable in cash in equal payments semi-annually in arrears each November 1 and May 1, commencing on November 1, 2025. We intend to use the net proceeds of the Offering to repay indebtedness under our existing Credit Agreement, and for general corporate purposes.

    NACG’s outlook for 2025

    The following table provides projected key measures for 2025. These measures are predicated on contracts currently in place, including expected renewals, and the heavy equipment fleet that we own and operate.

    Key measures   2025
    Combined revenue(i)   $1.4 – $1.6B
    Adjusted EBITDA(i)   $415 – $445M
    Sustaining capital(i)   $180 – $200M
    Adjusted EPS(i)   $3.70 – $4.00
    Free cash flow(i)   $130 – $150M
         
    Capital allocation    
    Growth spending(i)   $65 – $75M
    Net debt leverage(i)   Targeting 1.7x

    (i)See “Non-GAAP Financial Measures”.

    Conference Call and Webcast

    Management will hold a conference call and webcast to discuss our financial results for the quarter ended March 31, 2025, tomorrow, Thursday, May 15, 2025, at 7:00 am Mountain Time (9:00 am Eastern Time).

    The call can be accessed by dialing:
          Toll free: 1-800-717-1738
          Conference ID: 42703

    A replay will be available through June 12, 2025, by dialing:
          Toll Free: 1-888-660-6264
          Conference ID: 42703
          Playback Passcode: 42703

    The Q1 2025 earnings presentation for the webcast will be available for download on the company’s website at www.nacg.ca/presentations/

    The live presentation and webcast can be accessed at:

    https://onlinexperiences.com/scripts/Server.nxp?LASCmd=AI:4;F:QS!10100&ShowUUID=5E415713-29A1-4D60-A023-BF0345BED32F

    A replay will be available until June 12, 2025, using the link provided.

    Basis of Presentation

    We have prepared our consolidated financial statements in conformity with accounting principles generally accepted in the United States (“US GAAP”). Unless otherwise specified, all dollar amounts discussed are in Canadian dollars. Please see the Management’s Discussion and Analysis (“MD&A”) for the quarter ended March 31, 2025, for further detail on the matters discussed in this release. In addition to the MD&A, please reference the dedicated Q1 2025 Results Presentation for more information on our results and projections which can be found on our website under Investors – Presentations.

    Change in significant accounting policy – Classification of multi-use tires

    Effective in the first quarter of 2025, we have changed our accounting policy for the classification of multi-life tires. These tires are now recognized as property, plant, and equipment on the Consolidated Balance Sheets and are amortized through depreciation on the Consolidated Statements of Operations and Comprehensive Income. Previously, multi-life tires were classified as inventories and expensed through cost of sales when placed into service. This change in accounting policy provides a more accurate reflection of the role of multi-life tires as components of the heavy equipment in which they are utilized, aligning the accounting treatment with the economic substance of their use.

    We have applied this change retrospectively in accordance with Accounting Standards Codification (“ASC”) 250, Accounting Changes and Error Corrections, by restating the comparative period. For further details regarding the retrospective adjustments, refer to Note 16 in the consolidated financial statements for the period ended March 31, 2025.

    Forward-Looking Information

    The information provided in this release contains forward-looking statements. Forward-looking statements include statements preceded by, followed by or that include the words “anticipate”, “believe”, “expect”, “should” or similar expressions.

    The material factors or assumptions used to develop the above forward-looking statements include, and the risks and uncertainties to which such forward-looking statements are subject, are highlighted in the MD&A for the three months ended March 31, 2025. Actual results could differ materially from those contemplated by such forward-looking statements because of any number of factors and uncertainties, many of which are beyond NACG’s control. Undue reliance should not be placed upon forward-looking statements and NACG undertakes no obligation, other than those required by applicable law, to update or revise those statements. For more complete information about NACG, please read our disclosure documents filed with the SEC and the CSA. These free documents can be obtained by visiting EDGAR on the SEC website at www.sec.gov or on the CSA website at www.sedarplus.com.

    Non-GAAP Financial Measures

    This press release presents certain non-GAAP financial measures because management believes that they may be useful to investors in analyzing our business performance, leverage and liquidity. The non-GAAP financial measures we present include “adjusted EBIT”, “adjusted EBITDA”, “adjusted EBITDA margin”, “adjusted EPS”, “adjusted net earnings”, “capital additions”, “capital work in progress”, “cash liquidity”, “cash provided by operating activities prior to change in working capital”, “cash related interest expense”, “combined gross profit”, “combined gross profit margin”, “equity investment depreciation and amortization”, “equity investment EBIT”, “free cash flow”, “general and administrative expenses (excluding stock-based compensation)”, “gross profit margin”, “growth capital”, “margin”, “net debt”, “net debt leverage”, “sustaining capital”, “total capital liquidity”, “total combined revenue”, and “total debt”. A non-GAAP financial measure is defined by relevant regulatory authorities as a numerical measure of an issuer’s historical or future financial performance, financial position or cash flow that is not specified, defined or determined under the issuer’s GAAP and that is not presented in an issuer’s financial statements. These non-GAAP measures do not have any standardized meaning and therefore are unlikely to be comparable to similar measures presented by other companies. They should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. Each non-GAAP financial measure used in this press release is defined and reconciled to its most directly comparable GAAP measure in the “Non-GAAP Financial Measures” section of our Management’s Discussion and Analysis filed concurrently with this press release.

    Reconciliation of total reported revenue to total combined revenue

        Three months ended
        March 31,
    (dollars in thousands)     2025       2024  
    Revenue from wholly-owned entities per financial statements   $ 340,833     $ 297,026  
    Share of revenue from investments in affiliates and joint ventures     136,237       125,838  
    Elimination of joint venture subcontract revenue     (85,566 )     (77,151 )
    Total combined revenue(i)   $ 391,504     $ 345,713  

    (i)See “Non-GAAP Financial Measures”.

    Reconciliation of reported gross profit to combined gross profit

        Three months ended
        March 31,
    (dollars in thousands)     2025       2024  
    Gross profit from wholly-owned entities per financial statements   $ 37,891     $ 53,494  
    Share of gross profit from investments in affiliates and joint ventures     13,677       8,935  
    Combined gross profit(i)(ii)   $ 51,568     $ 62,429  

    (i)See “Non-GAAP Financial Measures”.
    (ii)The prior year amounts are adjusted to reflect a change in policy. See “Accounting Estimates, Pronouncements and Measures”.

    Reconciliation of net income to adjusted net earnings, adjusted EBIT and adjusted EBITDA

        Three months ended
        March 31,
    (dollars in thousands)     2025       2024  
    Net income(i)   $ 6,163     $ 11,511  
    Adjustments:        
    Stock-based compensation (benefit) expense     (3,408 )     3,608  
    (Gain) loss on disposal of property, plant and equipment     (974 )     261  
    Change in fair value of contingent obligations from adjustments to estimates     (1,317 )     1,438  
    Loss on derivative financial instruments     6,912       —  
    Equity investment loss on derivative financial instruments     1,019       1,954  
    Equity investment restructuring costs     —       4,517  
    Depreciation expense relating to early component failures     4,274       —  
    Post-acquisition asset relocation and integration costs     1,640       —  
    Tax effect of the above items     208       (2,260 )
    Adjusted net earnings(i)(ii)     14,517       21,029  
    Adjustments:        
    Tax effect of the above items     (208 )     2,260  
    Interest expense, net     13,516       15,597  
    Equity investment EBIT(ii)     3,310       (3,768 )
    Equity (earnings) loss in affiliates and joint ventures     (3,283 )     1,512  
    Change in fair value of contingent obligations     4,347       3,955  
    Income tax expense     4,244       4,467  
    Adjusted EBIT(i)(ii)     36,443       45,052  
    Adjustments:        
    Depreciation(i)     60,714       47,862  
    Amortization of intangible assets     601       310  
    Depreciation expense relating to early component failures     (4,274 )     —  
    Equity investment depreciation and amortization(ii)     6,448       4,162  
    Adjusted EBITDA(i)(ii)   $ 99,932     $ 97,386  
    Adjusted EBITDA margin(i)(ii)(iii)     25.5 %     28.2 %

    (i)The prior year amounts are adjusted to reflect a change in policy. See “Accounting Estimates, Pronouncements and Measures”.
    (ii)See “Non-GAAP Financial Measures”.
    (iii)Adjusted EBITDA margin is calculated using adjusted EBITDA over total combined revenue.

    Reconciliation of equity earnings in affiliates and joint ventures to equity investment EBIT

        Three months ended
        March 31,
    (dollars in thousands)     2025       2024  
    Equity (loss) earnings in affiliates and joint ventures   $ 3,283     $ (1,512 )
    Adjustments:        
    Loss (gain) on disposal of property, plant and equipment     2       (175 )
    Interest income     (29 )     (573 )
    Income tax expense (benefit)     54       (1,508 )
    Equity investment EBIT(i)   $ 3,310     $ (3,768 )

    (i)See “Non-GAAP Financial Measures”.

    About the Company

    North American Construction Group Ltd. is a premier provider of heavy civil construction and mining services in Australia, Canada, and the U.S. For 70 years, NACG has provided services to the mining, resource and infrastructure construction markets.

    For further information contact:

    Jason Veenstra, CPA, CA
    Chief Financial Officer
    North American Construction Group Ltd.
    (780) 960-7171
    IR@nacg.ca
    www.nacg.ca

    Interim Consolidated Balance Sheets

    (Expressed in thousands of Canadian Dollars)
    (Unaudited)

        March 31,
    2025    		   December 31,
    2024(i)
    Assets        
    Current assets        
    Cash   $ 78,241     $ 77,875  
    Accounts receivable     186,850       166,070  
    Contract assets     19,676       4,135  
    Inventories     74,242       69,027  
    Prepaid expenses and deposits     6,523       7,676  
    Assets held for sale     782       683  
          366,314       325,466  
    Property, plant and equipment, net of accumulated depreciation of $503,486 (December 31, 2024 – $500,303)     1,314,635       1,251,874  
    Operating lease right-of-use assets     11,539       12,722  
    Investments in affiliates and joint ventures     86,341       84,692  
    Intangible assets     10,072       9,901  
    Other assets     5,581       9,845  
    Total assets   $ 1,794,482     $ 1,694,500  
    Liabilities and shareholders’ equity        
    Current liabilities        
    Accounts payable   $ 138,700     $ 110,750  
    Accrued liabilities     59,454       78,010  
    Contract liabilities     6,734       1,944  
    Current portion of long-term debt     150,301       84,194  
    Current portion of contingent obligations     40,139       39,290  
    Current portion of operating lease liabilities     1,475       1,771  
          396,803       315,959  
    Long-term debt     663,622       719,399  
    Contingent obligations     91,107       88,576  
    Operating lease liabilities     10,612       11,441  
    Other long-term obligations     42,792       44,711  
    Deferred tax liabilities     127,615       125,378  
          1,332,551       1,305,464  
    Shareholders’ equity        
    Common shares (authorized – unlimited number of voting common shares; issued and outstanding – March 31, 2025 – 30,601,681 (December 31, 2024 – 27,704,450))     298,858       228,961  
    Treasury shares (March 31, 2025 – 1,004,074 (December 31, 2024 – 1,000,328))     (16,036 )     (15,913 )
    Additional paid-in capital     20,856       20,819  
    Retained earnings     158,877       156,271  
    Accumulated other comprehensive loss     (624 )     (1,102 )
    Shareholders’ equity     461,931       389,036  
    Total liabilities and shareholders’ equity   $ 1,794,482     $ 1,694,500  

    (i)The prior year amounts are adjusted to reflect a change in policy. See “Accounting Estimates, Pronouncements and Measures”.

    Interim Consolidated Statements of Operations and Comprehensive Income

    (Expressed in thousands of Canadian Dollars, except per share amounts)
    (Unaudited) 

        Three months ended
        March 31,
          2025     2024(i)  
    Revenue   $ 340,833     $ 297,026  
    Cost of sales     242,228       195,670  
    Depreciation     60,714       47,862  
    Gross profit     37,891       53,494  
    General and administrative expenses     7,682       14,443  
    Amortization of intangible assets     601       310  
    (Gain) loss on disposal of property, plant and equipment     (974 )     261  
    Operating income     30,582       38,480  
    Interest expense, net     13,516       15,597  
    Equity (earnings) loss in affiliates and joint ventures     (3,283 )     1,512  
    Loss on derivative financial instruments     6,912       —  
    Change in fair value of contingent obligations     3,030       5,393  
    Income before income taxes     10,407       15,978  
    Current income tax expense     1,777       4,296  
    Deferred income tax expense     2,467       171  
    Net income   $ 6,163     $ 11,511  
    Other comprehensive income        
    Unrealized foreign currency translation (gain) loss     (478 )     693  
    Comprehensive income   $ 6,641     $ 10,818  
    Per share information        
    Basic net income per share   $ 0.22     $ 0.43  
    Diluted net income per share   $ 0.21     $ 0.39  

    (i)The prior year amounts are adjusted to reflect a change in policy. See “Accounting Estimates, Pronouncements and Measures”.

    The MIL Network –

  • MIL-OSI: Flow Capital Announces Q1 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    Loan Interest Revenue up 45% and Recurring Free Cash Flow up 104% year over year 

    TORONTO, ON, May 14, 2025 (GLOBE NEWSWIRE) — Flow Capital Corp. (TSXV:FW), a leading provider of flexible growth capital and alternative debt solutions, announces its unaudited financial and operating results for the for the three-months ended March 31, 2025.

    Q1 2025 Performance Highlights

    • 45% increase in Loan Interest Revenue to $2.9 million year over year.
    • 104% increase in Recurring Free Cash Flow to $847,111 year over year.
    • $0.028 in Recurring Free Cash Flow per share for the quarter.
    • 13% increase in Total Assets to $74.1 million year over year.
    • $3.2 million in new capital deployment during the quarter.
    • $1.22 book value per share.

    “This was another strong quarter, capping off a record year for Flow Capital. Q1 2025 represented the 7th consecutive quarter of sequential quarter-to-quarter loan interest revenue growth. More importantly, we are growing our revenue while consistently generating positive free cash flow. We have entered our 6th consecutive year of generating positive recurring cash flow, generating $847,111 during the quarter. We believe our continued strong growth indicates the strength of our business model and management’s ability to execute on it.” said Alex Baluta, CEO of Flow Capital.

    Detailed Financial Results are available on our website at www.flowcap.com/investor-relations/2025 or on www.sedar.com/.

    Results of Operations

    Click here to view image

    (1)   Recurring Free Cash Flow is an internally defined, non-IFRS measure calculated as loan interest revenue less loan amortization income, one-time payments, salaries, professional fees, office and general administrative expenses, and financing expenses. See the section “Use of Non-IFRS Financial Measures”.
    (2)   Calculated by taking Total Shareholders’ Equity as reported on the Statements of Financial Position over the number of outstanding shares at period end. See the section “Use of Non-IFRS Financial Measures”.

    Conference Call Details

    Flow Capital will host a conference call to discuss these results at 9:00 a.m. Eastern Time, on Thursday, May 15, 2025. Participants should call +1 800-717-1738 or +1 289-514-5100 and ask an operator for the Flow Capital Earnings Call, Conference ID 61852. Please dial in 10 minutes prior to the call to secure a line. A replay will be available shortly after the call. To access the replay, please dial +1 888-660-6264 or +1 289-819-1325 and enter passcode 61852#. The replay recording will be available until 11:59 p.m. ET, May 29, 2025.

    An audio recording of the conference call will be also available on the investors’ page of Flow Capital’s website at www.flowcap.com/investor-relations/2025

    About Flow Capital

    Flow Capital Corp. is a publicly listed provider of flexible growth capital and alternative debt solutions dedicated to supporting high-growth companies. Since its inception in 2018, the company has provided financing to businesses in the US, the UK, and Canada, helping them achieve accelerated growth without the dilutive impact of equity financing or the complexities of traditional bank loans. Flow Capital focuses on revenue-generating, VC-backed, and founder-owned companies seeking $2 to $10 million in capital to drive their continued expansion.

    Learn more at www.flowcap.com

    For further information, please contact:

    Flow Capital Corp.

    Alex Baluta
    Chief Executive Officer
    alex@flowcap.com

    47 Colborne St, Suite 303,
    Toronto, Ontario M5E 1P8

    Non-IFRS Financial Measures

    This press release includes references to the non-IFRS financial measure “Recurring Free Cash Flow.” This financial measure is employed by the Company to measure its operating and economic performance, to assist in business decision-making, and to provide key performance information to senior management. The Company believes that, in addition to conventional measures prepared in accordance with IFRS, certain investors and analysts use this information to evaluate the company’s operating and financial performance. This financial measure is not defined under IFRS, nor does it replace or supersede any standardized measure under IFRS. Other companies in our industry may calculate this measure differently than we do, limiting its usefulness as a comparative measure. Reconciliations of non-IFRS measures to the nearest IFRS measure can be found in this press release under “Reconciliation of Non-IFRS Measures.”

    Reconciliation of Non-IFRS Measures

    The table below reconciles Recurring Free Cash Flow for the periods indicated.

    Recurring Free Cash Flow is an internally defined, non-IFRS measure calculated as loan interest and royalty income less loan amortization income, one-time payments, salaries, professional fees, office and general administrative expenses, and financing expenses.

    Click here to view image

    Forward-Looking Information and Statements

    Certain statements herein may be “forward-looking” statements that involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Flow or the industry to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether such results will be achieved. A number of factors could cause actual results to vary significantly from the results discussed in the forward-looking statements. These forward-looking statements reflect current assumptions and expectations regarding future events and operating performance and are made as of the date hereof and Flow assumes no obligation, except as required by law, to update any forward-looking statements to reflect new events or circumstances.

    The MIL Network –

  • MIL-OSI: Questerre reports first quarter 2025 results

    Source: GlobeNewswire (MIL-OSI)

    THIS NEWS RELEASE IS NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES OF AMERICA TO UNITED STATES NEWSWIRE SERVICES OR UNITED STATES PERSONS

    CALGARY, Alberta, May 14, 2025 (GLOBE NEWSWIRE) — Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) reported today on its financial and operating results for the quarter ended March 31, 2025.

    Michael Binnion, President and Chief Executive Officer of Questerre, commented, “Three wells at Kakwa North were completed this quarter. Including flush volumes, our daily production has averaged over 3,500 boe per day since the tie-in in early April. We plan to participate in a follow-up three (1.5 net) well program that could begin this fall.”

    He added, “Securing energy supplies and diversifying markets is a priority in Canada following the seismic shift in US trade policy. This is especially true in Quebec where imports account for nearly half their total energy demand. There is a growing consensus in the province that energy infrastructure, including pipelines and LNG export facilities, should be revisited. Our discovery could provide a secure supply of natural gas and help solve their existing electrical energy shortage while reducing Canadian and global emissions.”

    He further added, “We are following the legal process to protect our shareholders’ rights. At a recent hearing, the Justice approved our request to interview several key Government representatives including current and former ministers. The Attorney General is requesting leave to appeal this decision.”

    Highlights

    • Kakwa North wells completed in the quarter and on production in early April bringing production to over 3,500 boe per day
    • Red Leaf completes larger-pilot scale demonstration of technology
    • Average daily production of 1,729 boe per day and net cash flow from operating activities of $3.4 million and adjusted funds flow from operations of $3.5 million

    Production volumes increased marginally in the first quarter of 2025 to 1,729 boe/d from 1,664 boe/d last year. Production volumes will increase further in the second quarter following the tie-in of the three (1.50 net) wells drilled this year at Kakwa North. For the quarter, petroleum and natural gas revenue remained relatively flat and totaled $9.1 million in the period compared to $9.0 million last year. With revenue offsetting expenses, the Company generated no net income for the quarter compared to a loss of $0.2 million last year. Cash flow from operations was $3.4 million (2024: $2.6 million) and adjusted funds flow from operations of $3.5 million (2024: $3 million).

    The Company incurred capital expenditures of $17.9 million for the period (2024: $2.6 million) and reported a working capital surplus of $9.2 million as of March 31, 2025 (2024: $30.2 million).

    The term “adjusted funds flow from operations” and “working capital surplus” are non-IFRS measures. Please see the reconciliation elsewhere in this press release.

    Questerre is an energy technology and innovation company. It is leveraging its expertise gained through early exposure to low permeability reservoirs to acquire significant high-quality resources. We believe we can successfully transition our energy portfolio. With new clean technologies and innovation to responsibly produce and use energy, we can sustain both human progress and our natural environment.

    Questerre is a believer that the future success of the oil and gas industry depends on the balance of economics, environment, and society. We are committed to being transparent and are respectful that the public must be part of making the important choices for our energy future.

    Advisory Regarding Forward-Looking Statements

    This news release contains certain statements which constitute forward-looking statements or information (“forward-looking statements”) including the Company’s views that securing energy security and market access is a priority in Canada following the shift in US trade policy and that its discovery could provide a secure supply of natural gas to Quebec and help solve their existing electric energy shortage while reducing Canadian and global emissions.

    Forward-looking statements are based on several material factors, expectations, or assumptions of Questerre which have been used to develop such statements and information, but which may prove to be incorrect. Although Questerre believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because Questerre 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. Further, events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including, without limitation: the implementation of Bill 21 by the Government of Quebec and certain other risks detailed from time-to-time in Questerre’s public disclosure documents. Additional information regarding some of these risks, expectations or assumptions and other factors may be found in the Company’s Annual Information Form for the year ended December 31, 2024, and other documents available on the Company’s profile at www.sedar.com. The reader is cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof and Questerre undertakes no obligations to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

    Certain information set out herein may be considered as “financial outlook” within the meaning of applicable securities laws. The purpose of this financial outlook is to provide readers with disclosure regarding Questerre’s reasonable expectations as to the anticipated results of its proposed business activities for the periods indicated. Readers are cautioned that the financial outlook may not be appropriate for other purposes.

    (1) For the three-month period ended March 31, 2025, liquids production including light crude and natural gas liquids accounted for 998 bbl/d (2024: 978 bbl/d) and natural gas including conventional and shale gas accounted for 4,388 Mcf/d (2024: 4,114 Mcf/d).

    Barrel of oil equivalent (“boe”) amounts may be misleading, particularly if used in isolation. A boe conversion ratio has been calculated using a conversion rate of six thousand cubic feet of natural gas to one barrel of oil and the conversion ratio of one barrel to six thousand cubic feet is based on an energy equivalent conversion method application at the burner tip and does not necessarily represent an economic value equivalent at the wellhead. Given that the value ratio based on the current price of crude oil as compared to natural gas is significantly different from the energy equivalent of 6:1, utilizing a conversion on a 6:1 basis may be misleading as an indication of value.

    This press release contains the terms “adjusted funds flow from operations” and “working capital surplus” which are non-GAAP terms. Questerre uses these measures to help evaluate its performance.

    As an indicator of Questerre’s performance, adjusted funds flow from operations should not be considered as an alternative to, or more meaningful than, cash flows from operating activities as determined in accordance with GAAP. Questerre’s determination of adjusted funds flow from operations may not be comparable to that reported by other companies. Questerre considers adjusted funds flow from operations to be a key measure as it demonstrates the Company’s ability to generate the cash necessary to fund operations and support activities related to its major assets.

      Three Months Ended March 31,
    ($ thousands)   2025     2024  
    Net cash used in operating activities $ 3,359   $ 2,628  
    Change in non-cash operating working capital   184     345  
    Adjusted Funds Flow from Operations $ 3,543   $ 2,973  
                 

    Working capital surplus is a non-GAAP measure calculated as current assets less current liabilities excluding risk management contracts and lease liabilities.

    The MIL Network –

  • MIL-OSI New Zealand: More jet fuel to be stored near Auckland Airport

    Source: NZ Music Month takes to the streets

    Cabinet has approved regulations that will give fuel companies until 1 November 2026 to increase the jet fuel they hold at or near Auckland Airport to protect New Zealand against unexpected fuel supply disruptions, Associate Energy Minister Shane Jones says.

    “As an island nation far from the rest of the world it is essential New Zealand has uninterrupted access to air travel,” Mr Jones says.

    “In 2019, an inquiry into the 2017 pipeline rupture recommended fuel companies invest in additional storage at or near the Airport ‘without delay’.

    “Since 2019, fuel companies have allowed jet fuel cover to fall below the inquiry’s recommended resilience target of 10 days’ cover at 80 per cent operations, leaving New Zealand susceptible to the impacts of an unexpected fuel supply disruption.

    “The regulations provide the extra impetus fuel companies need to avoid any further delay for investing in additional fuel storage.

    “The 2017 fuel disruption saw almost 300 flights impacted. As our largest and busiest airport, is it essential we have enough jet fuel storage in place near Auckland Airport to help prevent future impacts to air travel in case of unexpected disruptions,” Mr Jones says.

    “Fuel companies have told me they will invest in a new storage tank near Auckland Airport to meet the new requirement. Cabinet’s decision also updates existing rules to ensure fuel companies give government visibility on the amount of readily available jet fuel held near Auckland Airport.

    “Fuel security is a top priority for this Government. This new rule along with our work to develop a fuel security plan will help keep the New Zealand economy moving and connected to the world,” Mr Jones says.

    MIL OSI New Zealand News –