Category: Economy

MIL-OSI Security: Business Partner Brothers Sentenced to Federal Prison for their Roles in $2.8M COVID Fraud Scheme

Source: Office of United States Attorneys

CHARLESTON, S.C. — Three brothers have been sentenced to federal prison after pleading guilty to wire fraud conspiracy and wire fraud. Two brothers, William Chan, 40, and Siu Chan, 32, both of Georgia, pleaded guilty to a wire fraud conspiracy. The third brother, Ka Ho Chan, 33, who also resides in Georgia, pleaded guilty to two counts of wire fraud. The brothers, along with other family members, operate a string of restaurants in the Charleston area.

Evidence obtained in the investigation revealed that beginning in March 2020, the Chan brothers applied for Paycheck Protect Program (PPP) and Emergency Injury Disaster Loans (EIDL) funds using false representations and fraudulent documentation.

The evidence presented for William and Siu Chan revealed that at least 22 PPP and EIDL loans were applied for and received totaling more than $2.5 million. The investigation further revealed that a handful of the loans applied for by William and Siu were legitimate applications but the funds we not used for legitimate business purposes once funded. For example, the Government uncovered evidence that the brothers used PPP and EIDL loan funds to make personal car purchases and pay personal credit card expenses.

Ka Ha Chan pleaded to a separate information charging him with wire fraud for an EIDL loan and grant he received. Moreover, in Ka Ha Chan’s plea agreement, he agreed to a restitution figure between $300,000 to $350,000 based on his receipt of fraudulent loan proceeds applied for by his brothers during their conspiracy. The evidence revealed that all the funds received by Ka Ho, though his own wire fraud scheme, and the funds he received from his brothers were not used for legitimate business purposes and were used for personal expenses, such as vehicle purchases and personal credit cards.

“These defendants exploited a program intended to help struggling businesses during a critical time. Their greed led them to defraud the government and taxpayers, diverting millions of dollars intended for legitimate economic relief,” said Acting U.S. Attorney Brook B. Andrews for the District of South Carolina. “This sentencing sends a clear message: those who attempt to profit from pandemic aid through fraud will be held accountable.”

“We will not tolerate those who exploit programs designed to support small businesses, and these defendants are now facing the consequences for their actions,” said Steve Jensen, Special Agent in Charge of the FBI Columbia field office. “The FBI remains committed to identifying, investigating, and holding accountable those who attempt undermine our financial institutions for personal gain.”

United States District Richard M. Gergel sentenced William Chan to 24 months imprisonment, to be followed by a three-year term of court-ordered supervision. Siu Chan was sentenced to 24 months imprisonment, to be followed by a three-year term of court-ordered supervision. Ka Ho Chan was sentenced to 12 months and one day imprisonment, to be followed by a three-year term of court-ordered supervision.

There is no parole in the federal system. The total amount of fraudulent loans and misuse of EIDL and PPP loan funds presented to the court during sentencing exceeded $2.8 million. In advance of sentencing, efforts had been made by the brothers to pay restitution. As a result, the outstanding restitution owed in the amount of $1,268,386.50 was ordered.

On May 17, 2021, the Attorney General established the COVID-19 Fraud Enforcement Task Force to marshal the resources of the Department of Justice in partnership with agencies across government to enhance efforts to combat and prevent pandemic-related fraud. The Task Force bolsters efforts to investigate and prosecute the most culpable domestic and international criminal actors and assists agencies tasked with administering relief programs to prevent fraud by, among other methods, augmenting and incorporating existing coordination mechanisms, identifying resources and techniques to uncover fraudulent actors and their schemes, and sharing and harnessing information and insights gained from prior enforcement efforts. For more information on the Department’s response to the pandemic, please visit https://www.justice.gov/coronavirus.

Anyone with information about allegations of attempted fraud involving COVID-19 can report it by calling the Department of Justice’s National Center for Disaster Fraud (NCDF) Hotline at 866-720-5721 or via the NCDF Web Complaint Form at: https://www.justice.gov/disaster-fraud/ncdf-disaster-complaint-form.

This case was investigated by the FBI Columbia Field Office and Small Business Administration. Assistant U.S. Attorney Amy Bower is prosecuting the case.

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MIL Security OSI –

March 4, 2025
MIL-OSI Africa: Nigeria’s 2025 budget has major flaws and won’t ease economic burden

Source: The Conversation – Africa – By Stephen Onyeiwu, Professor of Economics & Business, Allegheny College

There are doubts as to whether Nigerian president Bola Tinubu’s N54.99 trillion (US$36.6 billion) 2025 budget will lay a solid foundation for addressing some of the country’s current economic challenges.

Economist Stephen Onyeiwu unpacks these challenges and sets out why the 2025 budget won’t change Nigeria’s economic landscape (though it has some silver linings).

What are Nigeria’s four biggest economic challenges?

Firstly, Nigeria’s economy has grown at a subdued average rate of about 3% for the past three years.

Though comparable to global economic growth, this rate of growth is insufficient to create jobs and alleviate poverty. The official unemployment rate is 4.3%.

Only 15% of those employed, however, are in the formal sector as wage earners. About 93% of Nigerians are engaged in informal sector activities. They’re doing low-income and vulnerable jobs, with no social protection.

Secondly, Nigerians are struggling with a high cost of living. Inflation has remained high for three years, as have interest rates.

The exchange rate has been elevated and volatile. The result has been rising food, fuel and housing costs.

Thirdly, the country has not been able to attract enough foreign investment to generate high-paying jobs in the formal sector. Foreign direct investment to Nigeria has been declining. It fell from US$8.6 billion in 2009 to US$1.8 billion in 2023.

Reasons for the decline are the high cost of doing business in Nigeria, insecurity, poor infrastructure and macroeconomic instability.

Fourthly, poverty rates are high. This is due to unemployment and the lack of safety nets. The poverty rate rose from 33.2% in 2020 to 47.2% in 2024. The number of poor people is expected to increase by 13 million in 2025, largely due to inflation.

Will the 2025 budget help?

There are a number of serious flaws in it which suggest it won’t.

Tinubu said the 2025 budget “was designed to ensure macro-economic stability, poverty reduction, promoting economic stability, developing human capital and addressing insecurity.”

But the allocation of funds does not reflect these priorities. The allocations to personnel and overheads far exceed allocations to capital expenditures – things that build the economy’s productive capacity.

A key challenge for Nigeria is how to shift resources from consumption to production. The 2025 budget reinforces the longstanding consumerist nature of the economy.

China spends about 45% of GDP on capital formation. This has spurred and sustained the country’s high growth rates for decades. Nigeria’s allocation to capital expenditure in the 2025 budget is about 19%.

In his budget speech the president said his administration’s goal was to

“get our manufacturing sector humming again and ultimately increase the competitiveness of our economy.”

But the federal ministries that should be driving this effort – industry and education – weren’t allocated enough for capital expenditure.

Nor did the budget prioritise things that would ease the economic burden of Nigerians.

A big chunk of the budget (about 35.4%) goes to servicing debt. Indeed, about 65% of the 2025 budget will finance debt repayment, personnel costs and overheads.

Another concern is that the government intends to borrow N9.22 trillion (US$6.2 billion) to finance the budget, higher than the N7.83 trillion (US$5.2 billion) borrowed in the previous year.

Borrowing to finance a budget increases the interest rate and makes private-sector borrowing costly. Businesses can’t access funds that would enable them to invest and boost economic growth, reduce inflation, create jobs and alleviate poverty.

Are there any silver linings?

There are some.

It is commendable that the Federal Ministry of Communications & the Digital Economy was allocated about N450 billion (US$300 million) for capital expenditure, compared to just N33 billion (US$22 million) for recurrent expenditure. The administration is signalling its commitment to building capacity in the IT sector. This is important because Nigeria needs to promote a knowledge-based economy that would diversify away from hydrocarbons.

Another encouraging aspect of the budget is that the ratio of budget deficit to GDP (3.89%) is lower than the average 5% prior to 2024. Although the administration will borrow to cover the deficit, it’s borrowing less than before relative to GDP. This signals an intention to be more financially prudent than previous administrations, assuming it won’t resort to supplementary budgets.

What needs to happen now?

The 2025 budget is anything but pro-poor. Most of its provisions benefit the elites, contractors and public employees.

Much will be used to pay politicians and their aides at the National Assembly and workers in the government ministries and agencies.

Money allocated to capital expenditure will be used to pay contractors for government projects.

Nigerians in the informal sector will not feel a direct impact. There should have been more proactive measures to address unemployment and poverty.

Sustainable development requires a strong rural economy. While the manufacturing and services sectors are critical for structural transformation and job creation, they can’t develop without a vibrant agricultural sector.

Strengthening the rural economy of Nigeria requires raising the productivity of farmers so that they can supply food to urban workers at affordable prices. This helps keep inflation and wage rates low.

Raising the productivity of rural people raises their incomes and alleviates poverty.

Higher rural incomes increase farmers’ purchasing power, leading to an increase in the demand for goods and services produced in the manufacturing sector. When rural people earn more, there’s less reason to migrate to urban areas.

Less migration implies less pressure on urban social services, the labour market and the informal sector.

More funds need to be allocated to sectors and activities that raise the productive capacity of the economy. This will involve reducing governance costs and using the savings to boost food production, agro-processing and manufacturing.

The key to stabilising the Nigerian economy is massive food production, which will reduce food inflation. Coupled with agro-processing, food production will boost exports, reduce food imports and strengthen the value of the naira.

A stronger naira will reduce inflation and interest rates.

In conclusion, the 2025 budget does not solve Nigeria’s endless cycle of deficits and debts. Neither does it lay the foundation for structural transformation, economic diversification, sustainable economic growth, employment generation and poverty alleviation.

It will leave the economic landscape unchanged.

– Nigeria’s 2025 budget has major flaws and won’t ease economic burden
– https://theconversation.com/nigerias-2025-budget-has-major-flaws-and-wont-ease-economic-burden-250713

MIL OSI Africa –

March 4, 2025
MIL-OSI Africa: Who’s my dad? In South Africa that’s a complex question – report tracks the rise of ‘social fathers’

Source: The Conversation – Africa – By Wessel Van Den Berg, Research fellow, Stellenbosch University

The State of South Africa’s Fathers 2024 report is published by the new Tataokhona project at Stellenbosch University. The project focuses on research and interventions related to fathers and fatherhood. This is the third edition of this report, and offers valuable insights into the evolving realities of fatherhood in South Africa. Co-authors Wessel van den Berg, Mandisa Malinga, Kopano Ratele and Tawanda Makusha explain why it’s critical to examine the changing role of men in families.

What were some of the key findings of the report?

The report presents data from the General Household Survey 2023 and a survey of adult caregivers in South Africa, also done in 2023.

One of the key findings is that 76% of children in South Africa live with an adult male in the household. This is often overlooked when the media and researchers focus on children’s co-residence with fathers.

However, fewer children live with their biological fathers than with other men. The percentage of children who live with their biological fathers has dropped from 45.3% in 1996 to 35% in 2023.

This decline is linked to broader societal factors, including economic instability, migration patterns, and shifts in traditional family structures.

Never have so few children been recorded as living with their biological fathers, nor have so many lived with other men like uncles, grandfathers, older brothers or mothers’ new partners.

As researchers, policymakers and other development practitioners, we need to explore the contribution men make in their families, biological or otherwise.

The case studies and contributions from authors across the country underscore that while physical presence is important, the quality of engagement between the father figure and child is even more crucial.

Encouraging positive father-child relationships through legal, workplace and social policy changes could help mitigate the known effects of not living together.

Figure.

What did the survey reveal about who provides for children?

Traditionally, fatherhood has been closely linked to financial provision. However, economic hardships and shifting gender roles are reshaping this expectation.

Co-residence goes down as income goes down. Many fathers, particularly those facing unemployment or economic hardship, struggle to maintain active participation in their children’s lives.

Many fathers are also forced to migrate to find work.

Those men who cannot provide do not see any other role for themselves in children’s lives, and so they disengage.

Data from the State of the World’s Fathers 2023 survey showed that in South Africa 85% of women financially supported their biological children, compared to 80% of men. Most children are supported by both parents, but mothers bear a higher financial burden than fathers.

Women are also more likely than men to provide for non-biological children (50% vs 44%).

These figures highlight the growing financial responsibilities shouldered by women and the need to redefine fatherhood beyond economic provision.

The increasing financial burden on women also reveals deep-seated inequalities in wage distribution and employment opportunities.

Many fathers who wish to support their children financially face obstacles such as unemployment and precarious work conditions.

While some men have adapted by taking on caregiving roles, society still puts pressure on them to prioritise financial contribution over direct caregiving.

This paradox creates stress and identity struggles for many fathers. It reinforces the need for supportive policies like paid parental leave and father-focused caregiving initiatives.

Read more: Men say they are spending more time on household chores, and would like to do more – survey of 17 countries

What does the survey tell us about ‘social fathers’?

With only a minority of children living with their biological fathers, social fathers – men who provide care despite not being biologically related to the child – have become increasingly significant. The State of the World’s Fathers 2023 survey found for example that of the men who care for children whom they had not biologically fathered, 51.1% of the men played with the children, 50.2% provided financial support, and 40.2% read books with them.

The report emphasises that 40% of children reside with men who are not their biological fathers, a trend that has grown since 1996. We believe these men can and should be encouraged to step into the role of social fathers. They include grandfathers, uncles, stepfathers, teachers and community leaders who contribute to children’s emotional and material well-being.

However, social fathers lack legal recognition and support in South Africa. This makes it harder for them to access resources that could help them provide better care.

Policymakers and community organisations must recognise and formalise the contributions of social fathers to ensure children receive consistent and supportive care.

Social fathers need to be recognised.

What happens now?

Many men struggle to find their place in a rapidly evolving society where gender expectations are no longer fixed.

The rise of feminism and women’s empowerment has rightly expanded opportunities for women, but has left a gap in guiding men towards constructive ways of engaging with these changes.

Read more: Unpaid care work still falls on women: seven steps that could shift the balance

Additionally, it remains true that more women than men are unemployed. This is primarily due to societal expectations that women should be homemakers or primary caregivers.

Policies that recognise diverse forms of fatherhood will be essential in fostering positive father-child relationships for future generations.

– Who’s my dad? In South Africa that’s a complex question – report tracks the rise of ‘social fathers’
– https://theconversation.com/whos-my-dad-in-south-africa-thats-a-complex-question-report-tracks-the-rise-of-social-fathers-249763

MIL OSI Africa –

March 4, 2025
MIL-OSI United Nations: Fifth Trees in Dry Cities Coalition Meeting and Consultation on Guidance on Integrating Urban Trees into Policy and Plans
Source: United Nations Economic Commission for Europe

Since its launch at COP28 in Dubai, the Trees in Dry Cities Coalition has been advancing its Action Plan, focusing on key priorities for implementation. Building on discussions at COP16 in Riyadh, particularly on policy and finance, this meeting will:
- Discuss the technical guide on integrating urban forestry into national planning frameworks and its practical application to link local and national policy.
- Assess progress on the Action Plan and explore next steps for policy alignment and implementation.
- Provide a briefing on the finance stream, summarizing key takeaways from the dedicated webinar.
The Fifth Meeting of the Coalition will serve as a checkpoint for implementation progress and provide a space for open discussion on key actions for 2025.

MIL OSI United Nations News –
March 4, 2025
MIL-OSI Global: How Jeff Bezos brought the Washington Post’s global reputation into question

Source: The Conversation – UK – By Colleen Murrell, Full Professor in Journalism, Dublin City University

The Washington Post still conjures up, for some, the promise of fiercely independent investigative journalism that can unseat a corrupt president. In what became one of the biggest stories of the 20th century, Richard Nixon (1969-74) was forced to resign the presidency in 1974, halfway through his second term, following an investigation by Post reporters Carl Bernstein and Bob Woodward.

After months of work the reporting team linked Nixon and his campaign staff to illegal donations, and to the bugging and sabotage of political opponents including a break-in at the offices of the Democratic National Committee in the Watergate building, Washington DC. Their work won a Pulitzer prize.

This kicked off decades of investigative journalism and breaking stories that has cemented the Post’s global reputation.

So the recent memo by billionaire owner of the Post, Jeff Bezos, declaring that the newspaper’s opinion section will now be restricted to pieces supporting “personal liberties and free markets” (and not opposing viewpoints) came as a shock not only to loyal liberal readers and to some journalists, but also to those who see the Post as a bastion of media freedom. Bezos said on X that differing opinions can be “left to be published by others”.

The decision by Bezos prompted the opinion editor David Shipley to resign and Elon Musk to tweet “Bravo, @JeffBezos!” The paper’s newly appointed economics reporter Jeff Stein also took to X to respond to Bezos’s tweeted memo by calling it a “massive encroachment” by his new boss.

He added: “I still have not felt encroachment on my journalism on the news side of coverage, but if Bezos tries interfering with the news side I will be quitting immediately and letting you know.” Some sources suggest that the Post has lost 75,000 digital subscribers since the decision was announced.

The trailer for the film All the President’s Men, based on reporting from the Washington Post.

To many the Post’s reputation was already becoming tarnished. Bezos rocked his readership back in October 2024 when he refused to endorse a candidate in the presidential election for the first time in 36 years.

According to the paper the decision led to 250,000 readers cancelling their subscriptions. Woodward and Bernstein said the decision “ignores the Washington Post’s own overwhelming reportorial evidence on the threat Donald Trump poses to democracy”.

And so it came as no surprise at Trump’s inauguration that Bezos could be seen seated prominently beside his fellow tech billionaires Meta’s Mark Zuckerberg, X’s Elon Musk and Google’s Sundar Pichai.

But is all lost? The Washington Post has always had its share of bold and outspoken reporters and commentators and, on Friday, Post columist Dana Milbank wrote a strongly worded opinion piece in which he said that readers were worried that Bezos’s words, “are cover for a plan to turn this into a MAGA-Friendly outlet”.

He added: “If we as a newspaper, and as a country, are to defend [Bezos’s] twin pillars, then we must redouble our fight against the single greatest threat to ‘personal liberties and free markets’ today: Donald Trump.”

Jeff Bezos brings in new rules on what can and cannot be published in the Washington Post’s opinion pages.

Has this latest move by Bezos simply made clear an editorial position which is ordinarily inferred but not made explicit? Will reporters be free to conduct investigations into Amazon’s work practices while at the same time extolling free market objectives? As yet no one knows for sure.

Coverage changes?

In January the newspaper’s Pulitzer prize-winning cartoonist, Ann Telnaes, resigned after the Post refused to publish a satirical cartoon of a group of tech and media billionaires (that included Bezos and Meta boss Mark Zuckerberg) laying bags of cash before a statue of Trump.

Telnaes described the refusal to publish as “dangerous for a free press”. Ironically it was David Shipley who claimed at the time that he had decided against publication due to “repetition”, rather than because the cartoon mocked Bezos.

Nevertheless, Post reporters have continued to focus national coverage on the wide-ranging effects of Trump’s executive orders, the sacking of senior military leaders and Doge’s culling of resources and jobs in the public sector. Neither has it escaped the new administration’s changes to media access.

On February 7 the Department of Defense announced the Post would be removed from its office in the Pentagon’s “Correspondents Corridor” along with CNN, plus the New York Times, NPR and NBC which were evicted earlier to make room for pro-Trump media organisations.

The Post today

In 2024, the Post took home three Pulitzer prizes for journalism, including one for David E. Hoffman “for a compelling and well-researched series on new technologies and the tactics authoritarian regimes use to repress dissent in the digital age, and how they can be fought”.

The past few years have been financially bruising for the paper and in 2023 the paper announced it had lost US$77 million (£69 million). In its latest round of cuts in January this year it laid off 100 employees.

Back when Bezos took over the paper in August 2013 the New York Times quoted a fellow tech entrepreneur, Redfin CEO Glenn Kelman, as saying in a now prophetic line: “It used to be that in Silicon Valley we just built the platforms and someone else wrote the content. But that is changing. The lines have been blurred for a long time, and this is just another step in that process.”

Twelve years on the “broligarchy” may not be writing the content, but is it restricting it? In these uneasy times in Washington there appears to be a growing erosion of press freedom as the new administration moves to limit access to the White House for mainstream media such as the Associated Press in favour of pro-Trump media.

Whether the Post will come down on the side of press freedom or is banking on an eventual post-Trump bump to stem its declining sales is unclear.

Colleen Murrell received funding from Irish regulator Coimisiún na Meán (2021-4) for research for the annual Reuters Digital News Report Ireland.

– ref. How Jeff Bezos brought the Washington Post’s global reputation into question – https://theconversation.com/how-jeff-bezos-brought-the-washington-posts-global-reputation-into-question-251172

MIL OSI – Global Reports –

March 4, 2025
MIL-OSI USA: Fact Sheet: President Donald J. Trump Addresses the Threat to National Security from Imports of Timber, Lumber, and their Derivative Products

US Senate News:

Source: The White House
SECURING AMERICA’S LUMBER SUPPLY: Today, President Donald J. Trump signed an Executive Order launching an investigation into how imports of timber, lumber, and their derivative products threaten America’s national security and economic stability.
The Order directs the Secretary of Commerce to initiate a Section 232 investigation under the Trade Expansion Act of 1962.
This investigation will assess the national security risks arising from the United States’ increasing dependence on imported timber, lumber, and derivative products like paper, furniture, and cabinetry, and the potential need for trade remedies to safeguard domestic industry.
The investigation will culminate in a report identifying vulnerabilities in the lumber supply chain and providing recommendations to enhance the resilience of America’s domestic wood products industry.
ADDRESSING THE THREAT TO NATIONAL SECURITY: President Trump recognizes that an overreliance on foreign timber, lumber, and their derivative products could jeopardize the United States’ defense capabilities, construction industry, and economic strength.
Timber and lumber are essential materials for national security, economic stability, and industrial resilience.
Lumber plays a vital role in civilian construction and military infrastructure.
The U.S. military spends over ten billion dollars annually on construction and is testing innovative wood products such as cross-laminated timber.

The United States has been a net importer of lumber since 2016, despite having the practical production capacity to supply 95% of the United States’ 2024 softwood consumption.
Foreign supply chains and major exporters increasingly fill U.S. demand, creating vulnerabilities to disruptions.
America’s reliance on imported lumber is exacerbated by foreign government subsidies and predatory trade practices, which undermine the competitiveness of the U.S. wood products industry.
STRENGTHENING AMERICAN INDUSTRY: This Executive Order builds on previous actions taken by the Trump Administration to ensure U.S. trade policy serves the nation’s long-term interests.
On Day One, President Trump initiated his America First Trade Policy to make America’s economy great again.
President Trump signed proclamations to close existing loopholes and exemptions in order to restore a true 25% tariff on steel and elevate the tariff to 25% on aluminum.
President Trump implemented a 10% additional tariff on imports from China in response to China’s role in importing illegal drugs to the United States.
President Trump unveiled the “Fair and Reciprocal Plan” on trade to restore fairness in U.S. trade relationships and counter non-reciprocal trade agreements.
President Trump signed a memorandum to safeguard American innovation, including the consideration of tariffs to combat digital service taxes (DSTs), fines, practices, and policies that foreign governments levy on American companies.
President Trump launched a Section 232 investigation into how copper imports threaten America’s national security and economic stability.

MIL OSI USA News –

March 4, 2025
MIL-OSI United Kingdom: Conclusion of UK presidency of the International Holocaust Remembrance Alliance: Lord Pickles’ speech
Source: United Kingdom – Government Statements

Speech

Conclusion of UK presidency of the International Holocaust Remembrance Alliance: Lord Pickles’ speech

International Holocaust Remembrance Alliance Chair Lord Pickles spoke about the UK’s achievements over the past year and handed over the presidency to Israel.
In February 1980, I first watched a sunrise over Jerusalem. Whenever I’ve returned to this wonderful city over the past 45 years, I still feel that feeling of warmth and wonderment.

As we stand at the Crossroads of Generations, there is no better place on Earth to draw together the future of remembrance.

The UK presidency aimed to bring out the best in the International Holocaust Remembrance Alliance (IHRA), engender confidence in difficult times, and, above all, to strengthen the organisation.

During our year, following a general election, Britain’s government changed from the Conservatives to Labour. There were many disagreements on political issues during the campaign, but there was complete unity on the need to fight antisemitism and to further Holocaust education and remembrance.

Both governments were clear that our presidency would put the interest of IHRA and remembrance before narrow national interest. I hope you agree that we have met those responsibilities.

Those of us who attended the poignant 80th-anniversary ceremony of the liberation of Auschwitz-Birkenau in January know that we will never see the like again. Ten years from now, at the 90th anniversary, it is unlikely there will be Holocaust survivors to speak.

We are now the custodians of their memory. We must remember and tell the truth. We must uphold our founding document, the Stockholm Declaration, which is as relevant today as 25 years ago.

IHRA is a consensus organisation, which can be frustrating at times. But there is an upside – it requires the skills of listening and debate. IHRA is not a place for the repetition of prepared statements, it is a place where experts speak the truth to government.

One feature of the past year was bringing remembrance closer to local communities. The ‘My Hometown’ initiative asked young people to research what happened in their towns during the Holocaust. It showed them that history is not distant – it is personal.

The ‘Holocaust in 80 Objects’ project used artefacts to tell the stories of victims and survivors. It reminded us that the Holocaust is not just statistics – it is millions of individual interlocking lives.

Under our leadership, the IHRA-UNESCO Capacity Building Training expanded. It now includes diplomatic networks and embassy staff. Those shaping international discourse must understand the dangers of Holocaust distortion.

This work has left a lasting impact – embedding Holocaust memory into education, public policy, and diplomacy. The move to new technologies that allows memory preservation will ensure that future generations can still connect with survivor voices.

I hope Israel can build on the AI conference we hosted in London. We must unlock the potential of AI, if we don’t our opponents certainly will.

IHRA is the only international organisation focusing on Holocaust remembrance, education and research. That is worth holding on to. To remain relevant, we must be adequately resourced.

I am grateful that the Israeli presidency has pledged there will be proposals to make our finances sustainable when we meet in Jerusalem in June.

I wish Israel a successful presidency. With Dani at the helm and with the support of Ruty and Yossi, Richelle, and Rob Rozette, I look forward to 2025 with confidence.

Finally, I wish for 3 things. As the United Kingdom passes the flickering torch of Holocaust remembrance to Israel:

may its light shine bright over Jerusalem

may it illuminate the Crossroads of the Generations

may it show us the right path

Updates to this page

Published 3 March 2025
MIL OSI United Kingdom –
March 4, 2025
MIL-OSI United Nations: At a time of war, nations must stop global order from crumbling: UN rights chief

Source: United Nations 2

“Our world is going through a period of turbulence and unpredictability, reflected in growing conflict and divided societies,” Türk told the Human Rights Council.

“We cannot allow the fundamental global consensus around international norms and institutions, built painstakingly over decades, to crumble before our eyes.”

The weapons of war

Presenting his global update covering more than 30 countries, the High Commissioner described as “outrageous” the fact that legal safeguards for non-combatants were being repeatedly ignored.

“Civilians are deliberately attacked. Sexual violence and famine are used as weapons of war,” Mr. Türk said. “Humanitarian access is denied, while weapons flow across borders and circumvent international sanctions. And humanitarian workers are targeted. In 2024, a record 356 humanitarian workers were killed while providing aid to people in some of the world’s most appalling crises.”

Unbearable price

In Sudan, the High Commissioner once again condemned devastating bomb attacks launched in heavily built-up areas with total impunity, by the parties to the conflict.

All the while, the world’s worst humanitarian catastrophe deepens, threatening regional stability, he maintained: “Civilians are paying an unbearable price, in a naked struggle for power and resources. All countries must use their influence to apply pressure on the parties and their allies, to stop the war, embark on an inclusive dialogue, and transition to a civilian-led Government.”

Ukraine’s people need peace

Turning to Ukraine, whose future material support from the United States appeared unclear following televised disagreements between Presidents Trump and Zelensky at a White House meeting on Friday, Mr. Türk opposed any peace deal that excluded Ukraine.

“Three years since the full-scale Russian invasion, people continue to suffer appallingly…Any discussions about ending the war must include Ukrainians and fully respect their human rights. Sustainable peace must be based on the United Nations Charter and international law.”

Civilian casualties in Ukraine rose by 30 per cent between 2023 and 2024, the High Commissioner continued, as he accused Russia’s armed forces of systematically targeting Ukraine’s energy infrastructure with coordinated strikes, causing widespread disruptions to essential services.

“Relentless attacks with aerial glide bombs, long-range missiles and drones have placed civilians in a state of constant insecurity and fear,” Mr. Türk noted.

Ukrainian prisoners also continue to face summary executions and “widespread and systematic torture” by Russian forces, he continued.

Gaza ceasefire focus

In the Occupied Palestinian Territory, the UN rights chief insisted that the fragile ceasefire holds in Gaza “and becomes the basis for peace”.

He also insisted that aid deliveries into Gaza should resume immediately, just as Israel announced a halt to aid flowing into the shattered enclave, having proposed extending the first phase of the ceasefire which ended at the weekend and which would allow Israeli troops to stay in Gaza.

UN aid chief Tom Fletcher responded with alarm to the Israeli decision, insisting that the ceasefire “must hold”.

In an online appeal, he added: “International humanitarian law is clear: We must be allowed access to deliver vital lifesaving aid. We can’t roll back the progress of the past 42 days. We need to get aid in and the hostages out.”

Back in the Council, Mr. Türk explained that the Gaza had been “razed” by constant Israeli bombardment in response to the “horrific” Hamas-led attacks on Israel that sparked the war in October 2023. “Any solution to the cycles of violence must be rooted in human rights, including the right to self-determination, the rule of law and accountability. All hostages must be freed; all those detained arbitrarily must be released; and humanitarian aid into Gaza must resume immediately.”

West Bank alert

Reflecting deep concerns by humanitarians and the human rights community about Israeli military raids on Palestinian settlements in the West Bank, the UN High Commissioner insisted that Israel’s “unilateral actions and threats of annexation in the West Bank, in violation of international law, must stop”.

Mr. Türk also condemned the use of “military weapons and tactics, including tanks and airstrikes, against Palestinians”. Equally worrying was “the destruction and emptying of refugee camps, the expansion of illegal settlements, the severe restrictions on movement and the displacement of tens of thousands of people”.

DR Congo devastation

Turning to the conflict in eastern Democratic Republic of the Congo, the High Commissioner underscored that entire communities in North and South Kivu had been devastated.

“In the past five weeks, thousands of people have reportedly been killed during attacks by the M23 armed group, backed by the Rwandan Armed Forces, in intense fighting against the Armed Forces of the DRC and their allies,” the UN rights chief said, pointing to reports of rape, sexual slavery and summary executions.

“More than half a million people have been forced to flee this year, adding to almost 7.8 million people already displaced in the country,” Mr. Türk said. “The violence must stop, violations by all parties must be investigated, and dialogue must resume.”

© WFP/Michael Castofas

More than half a million people have been forced to flee DR Congo this year.

Deadliest year in Myanmar

Moving on to the ongoing escalation of violence in Myanmar sparked by the military coup on 1 February 2021, the UN rights chief noted that 2024 was the deadliest year for civilians since the junta takeover.

“The military ramped up brutal attacks on civilians as their grip on power eroded, with retaliatory airstrikes and artillery shelling of villages and urban areas…and the forcible conscription of thousands of young people,” he said, before calling for the supply of arms and finance to the country’s military’s to be “cut decisively”.

Haiti spiral

The UN rights chief also expressed deep concerns about chronic lawlessness and heavily armed clashes in Haiti involving gangs that humanitarians warned last week recruit children as young as eight. More than 5,600 people were killed last year and thousands more were injured or kidnapped, Mr. Türk told the Human Rights Council.

“Full implementation of the Security Council‘s arms embargo and support to the Multinational Security Support Mission are crucial to resolving this crisis,” he insisted.

Yemen

On Yemen, the High Commissioner noted that amid ongoing hostilities, nearly 20 million Yemenis need humanitarian support. Mr. Türk also expressed his outrage at the death of a UN World Food Programme colleague in detention earlier this month. “All 23 UN staff – including eight colleagues from my own Office – who are arbitrarily detained by the Houthis must be released immediately.”

In a half-hour address to the Council that traditionally highlights the most worrying emergencies in the world and the need to tackle their root causes, the UN rights chief issued a call for greater global solidarity and accountability for crimes as a way to push back against those who would violate fundamental freedoms.

“We all have a responsibility to act – through our consumption habits, our social media use, and our political and social engagement,” he told the Council’s 47 Member States.

“We can trace a clear line between the lack of accountability for airstrikes on hospitals in Syria in the 2010s, attacks on healthcare facilities in Yemen, and the destruction of health systems in Gaza and Sudan,” he continued.

Toys of tech oligarchs

Equally alarming is the rise of unelected and unregulated “tech oligarchs” who reflect the new global power dynamic, Mr. Türk warned, before urging governments to fulfil their primary purpose of protecting their people from unchecked power.

Today’s tech oligarchs “have our data: they know where we live, what we do, our genes and our health conditions, our thoughts, our habits, our desires and our fears…And they know how to manipulate us,” the High Commissioner insisted.

Electioneering tactics

“I have followed recent election campaigns in Europe, North America and beyond with increasing trepidation. Single-issue soundbites devoid of substance oversimplify complex issues and are often based on scapegoating, disinformation, and dehumanization,” he continued.

“Dehumanization is a well-worn step towards treating an entire group as outsiders, unworthy of the basic rights we all enjoy. It is a dangerous precursor to hate and violence and must be called out whenever it occurs.”

UN Human Rights Council/Marie Bambi

Volker Türk, UN High Commissioner for Human Rights, presents his latest report on the obligation to ensure accountability and justice in the Occupied Palestinian Territory.

Toxic influence on gender equality

The High Commissioner also voiced his concern about the resurgence of toxic ideas about masculinity and efforts to glorify gender stereotypes, especially among young men.

To blame for this are “misogynistic influencers” with millions of followers on social media who “are hailed as heroes”, Mr. Türk said.

Online and offline, their ideas push back against gender equality and result in “violence and hateful rhetoric against women, women’s rights defenders, and women politicians”, the High Commissioner continued.

In a message of solidarity with people who have been left “feeling alienated and abandoned” by such malign influences, Mr. Türk insisted that the United Nations was by their side. “Your concerns are our concerns, because they are about human rights: to education, to health, to housing, to free speech, and access to justice. Human rights are about people’s daily concerns for their families and their future. We must cherish the values of respect, unity and solidarity; and work together for a safer, more just, more sustainable world. We can and will persevere,” he concluded.

MIL OSI United Nations News –

March 4, 2025
MIL-OSI United Nations: Consultation on Guidance on Integrating Urban Trees into Policy and Plans and Fifth Trees in Dry Cities Coalition Meeting
Source: United Nations Economic Commission for Europe

Since its launch at COP28 in Dubai, the Trees in Dry Cities Coalition has been advancing its Action Plan, focusing on key priorities for implementation. Building on discussions at COP16 in Riyadh, particularly on policy and finance, this meeting will:
- Discuss the technical guide on integrating urban forestry into national planning frameworks and its practical application to link local and national policy.
- Assess progress on the Action Plan and explore next steps for policy alignment and implementation.
- Provide a briefing on the finance stream, summarizing key takeaways from the dedicated webinar.
The Fifth Meeting of the Coalition will serve as a checkpoint for implementation progress and provide a space for open discussion on key actions for 2025.

MIL OSI United Nations News –
March 4, 2025
MIL-OSI: C.W. Williams Community Health Center Awarded $500,000 Grant for New Medical Facility in Charlotte

Source: GlobeNewswire (MIL-OSI)

CHARLOTTE, N.C., March 03, 2025 (GLOBE NEWSWIRE) — SECU Foundation has awarded a $500,000 capital grant to C.W. Williams Community Health Center (CWWCHC) to support the construction of a new medical facility that will serve low-income and uninsured residents in a nine-county region of southwest North Carolina. The new facility will expand the non-profit’s reach to 25,000 patients annually, a 92% capacity increase.

CWWCHC, a Federally Qualified Community Health Center, reports that more than 20% of their area’s population lives in poverty. Its data shows 42% of their patients are uninsured and 66% live on incomes below 200% of the federal poverty level. Through the new facility, CWWCHC will provide a comprehensive care model that integrates primary, preventative, educational, and support services in one location, reducing barriers to care.

“The C.W. Williams Community Health Center has been an important resource for southwestern North Carolina since 1981, providing reliable, high-quality care for marginalized populations,” said SECU Foundation Board Chair Chris Ayers. “We are pleased to support the construction of this state-of-the-art facility, which will help them increase capacity and meet the growing needs for their services.”

“As we continue to grow and flourish, C.W. Williams Community Health Center continues to provide the best quality health care and social services,” said CWWCHC CEO Debra Weeks. “This year, thanks in part to SECU Foundation, we will focus on nutritional health, maternal health, and behavioral health, making a positive impact in communities that are struggling. Funding is leveraged across every facet of our operations, so this grant will be reinvested in services and staffing to ensure quality healthcare to all, regardless of their ability to pay.”

About SECU and SECU Foundation

A not-for-profit financial cooperative owned by its members, and federally insured by the National Credit Union Administration (NCUA), SECU has been providing employees of the state of North Carolina and their families with consumer financial services for 87 years. SECU is the second largest credit union in the United States with $53 billion in assets. It serves more than 2.8 million members through 275 branch offices, 1,100 ATMs, Member Services Support via phone, www.ncsecu.org, and the SECU Mobile App. The SECU Foundation, a 501(c)(3) charitable organization funded by the contributions of SECU members, promotes local community development in North Carolina primarily through high-impact projects in the areas of housing, education, healthcare, and human services. Since 2004, SECU Foundation has made a collective financial commitment of over $300 million for initiatives to benefit North Carolinians statewide.

Contact: Jama Campbell, Executive Director, secufoundation@ncsecu.org

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/dd79a796-5f5d-42d8-be09-ee4aa3f7e78c

The MIL Network –

March 4, 2025
MIL-OSI: Strata Decision Technology and Snowflake Transform Healthcare Financial Analytics with Comprehensive Data Integration

Source: GlobeNewswire (MIL-OSI)

CHICAGO, March 03, 2025 (GLOBE NEWSWIRE) — Strata Decision Technology, a leader in the development of cloud-based financial planning, decision support, and performance analytics solutions for healthcare, today announced its collaboration with Snowflake, the AI Data Cloud Company, to create one of the largest comparable healthcare financial databases in the United States. This strategic initiative aims to deliver efficient access to near real-time and historical financial insights, with early adopters already beginning to access data directly through Snowflake.

The collaboration enables Strata to scale its data capabilities by unifying its diverse data assets — which include financial, operational, clinical, cost and margin, and claims data — within Snowflake’s robust, cloud-based data platform. This unified approach helps eliminate data siloes and provides healthcare organizations with a single source of truth for financial decision-making.

“Strata is rapidly innovating its data capabilities, and Snowflake is a key part of our innovation strategy,” said Jonathan Adams, Chief Technology Officer at Strata. “This collaboration strengthens Strata’s ability to deliver unique value and greater analytics horsepower for customers by offering among the largest and most diverse sets of healthcare data in the country.”

“At Snowflake, we’re committed to providing healthcare organizations with a platform that transforms how they leverage their most valuable asset — their data,” said Joe Warbington, Industry Principal, Healthcare at Snowflake. “Our work with Strata Decision Technology demonstrates how Snowflake can empower healthcare financial analytics at scale, helping providers make more informed strategic decisions that ultimately improve patient care and reduce costs.”

Ongoing integration of Strata’s data within Snowflake allows Strata to make its data more accessible to healthcare customers within StrataJazz and Axiom, its cloud-based enterprise performance management software platforms. As a result, both StrataJazz and Axiom customers get the benefits of more efficient scaling in response to organizations’ mounting data needs, and flexible data sharing to merge data from across multiple source systems and vendors. Snowflake also enables faster processing to accommodate increasingly complex data models, including Artificial Intelligence (AI) capabilities, Large Language Model (LLM) processes, and Machine Learning (ML).

Strata is creating a comprehensive healthcare intelligence ecosystem within Snowflake by strategically integrating multiple high-value datasets. This includes healthcare performance and patient volume data from StrataSphere, and hospital and physician benchmarking data from Comparative Analytics. In the coming months, Strata also will bring its proprietary 835 Remit and 837 All-Payor Claims Data (APCD) into Snowflake. To ensure data quality and consistency across these diverse datasets, Strata is leveraging AI and ML on Snowflake to ensure that common definitions and standards are applied to make the data consistent and comparable.

Strata also is leveraging Snowflake’s capabilities to advance its patient data integration strategy through secure tokenization of thoroughly cleansed and de-identified patient encounter and claims information. This innovative approach allows healthcare organizations to trace comprehensive patient journeys across multiple providers and facilities while maintaining strict privacy standards. By connecting all-payor claims data — which cover approximately 70% of patients — with granular encounter data in Snowflake’s easy, connected, and trusted data platform, Strata delivers unprecedented visibility into the complete patient care continuum. This unified view enables more personalized care planning and strategic resource allocation.

The integration also facilitates more accurate insights. For example, by combining claims data with demographic data, healthcare leaders can generate more rigorous volume projections to help guide them in making more informed strategic decisions. Similarly, merging claims and patient encounter data will help organizations identify patterns in patient behaviors, including where they may be losing patients to market competitors.

Strata’s collaboration with Snowflake emerged from Strata’s strategic initiative to future-proof its solutions amid explosive growth in customer data requirements. It is allowing Strata to move away from the limitations of its legacy StrataJazz on-premise SQL Server databases toward a highly scalable cloud architecture that meets the increasingly complex analytics needs of modern healthcare organizations.

Using Snowflake’s elasticity and performance, Strata can now scale its operations to deliver more accurate and efficient data and analytics capabilities for the customers it serves.

About Strata Decision Technology
Strata Decision Technology, LLC provides an innovative, cloud-based platform for software, and data and service solutions to help healthcare organizations acquire insights, accelerate decisions, and enhance performance in support of their missions. More than 2,300 organizations rely on Strata’s StrataJazz and Axiom solutions for market-leading service and enterprise performance management software, data, and intelligence solutions. To learn more about Strata and why the company has been named the market leader for Business Decision Support for more than 15 consecutive years, please go to www.stratadecision.com.

Strata Social Networks
LinkedIn: Strata Decision Technology

Media contact:
Sally Brown, Inkhouse
strata@inkhouse.com

The MIL Network –

March 4, 2025
MIL-OSI: Parker Blackwood Advisers Reports Australian Economy Showing Signs of Recovery

Source: GlobeNewswire (MIL-OSI)

PERTH, Australia, March 03, 2025 (GLOBE NEWSWIRE) — Parker Blackwood Advisers, a leading financial services provider has commented on the latest Australian economic trajectory that will be under the spotlight this week as fresh data is set to provide a critical assessment of the nation’s growth prospects. The December quarter national accounts, due for release by the Australian Bureau of Statistics (ABS) on Wednesday, are expected to confirm a modest acceleration in economic activity following a period of subdued expansion.

Consensus forecasts indicate that the economy likely expanded by 0.5% in the December quarter, up from 0.3% in the prior three-month period. If realized, this would translate to an annual GDP growth rate of 1.2% for 2024—a marked improvement from the 0.8% recorded in the September quarter but still well below the long-term historical average of over 3%.

“Productivity constraints and subdued private sector investment continue to weigh on economic momentum,” said Nathan Jones, Chief Investment Officer at Parker Blackwood Advisers. “While fiscal policy and household spending provide some stability, sustained growth requires stronger business investment and improvements in labour productivity—key factors the RBA will be closely monitoring in its policy deliberations.”

Investors will also scrutinize the Reserve Bank of Australia’s (RBA) February meeting minutes, scheduled for release on Tuesday. The central bank’s decision to cut interest rates for the first time in over four years signaled a shift in monetary policy, and market participants will be seeking further clarity on the likelihood of additional easing measures in the coming months.

Beyond GDP and monetary policy, Parker Blackwood Advisers note that key data releases will shed light on Australia’s property market and government finances. CoreLogic’s monthly Home Value Index, due on Monday, will reveal whether the recent housing downturn persisted into February, while building approvals data on Thursday will gauge progress toward the federal government’s ambitious 1.2 million-home construction target over five years.

Additionally, retail trade figures on Tuesday, international trade data on Thursday, and household spending indicators on Friday will offer a broader view of consumer activity and economic strength. The government’s fiscal position will also be under scrutiny, with the market anticipating a current account deficit of $13.4 billion when balance of payments data is released.

With a pivotal week ahead for economic data and central bank insights, investors and policymakers alike will be closely watching for signals on Australia’s growth trajectory and policy outlook in 2024.

About Parker Blackwood Advisers
Founded in 2013, Parker Blackwood Advisers is a premier financial services provider based in Perth, Australia. With a focus on personalised investment strategies, the firm offers a broad range of wealth management solutions, including asset allocation, investment management, and financial planning. Managing over $4.7 billion in assets, Parker Blackwood Advisers is dedicated to helping clients achieve their financial goals through tailored, expert guidance.

Disclaimer
Parker Blackwood Advisers is a trading name of PBA Corporation Pty Ltd (ABN: 98 162 183 244), holder of AFSL 434-071. Investing carries risks, including potential loss of capital. Information provided is general and not financial advice. Past performance is not a guarantee of future results.

Mr. Paul Allen
Head of Marketing
paul.allen@pb-investment.com
08 6275 0960
Exchange Tower,
Level 17/2 The Esplanade
Perth WA, 6000

Source: Parker Blackwood Advisers

The MIL Network –

March 4, 2025
MIL-OSI United Kingdom: Young people invited to apply for Mayor’s Bursary

Source: Northern Ireland – City of Derry

Young people invited to apply for Mayor’s Bursary

3 March 2025

The Mayor of Derry City and Strabane District Council, Councillor Lilian Seenoi Barr, has announced the launch of a Young Person’s Bursary – a £500 contribution aimed at supporting the growth and development of one young person with a talent or skill they wish to nurture but who may lack the financial means to do so.

The bursary is open to young people across the entire Derry City and Strabane District Council area and is designed to offer a helping hand to someone from a low-income, socially disadvantaged, or vulnerable background.
It could support the development of artistic abilities such as music or drama or help a young person build employability skills that will benefit their future.

Speaking at the launch, Mayor Barr expressed her enthusiasm for providing meaningful support to a young person with ambitions to grow and thrive.
“The Young Person’s Bursary is a small but important contribution, a hand up to help a young person in our community develop their potential. Whether it’s a creative talent like music or drama or an employability skill they wish to strengthen, this bursary is about allowing them to build their confidence, enhance their abilities, and pursue their dreams.
“Engaging with young people and giving them a voice has been a key focus of my Mayoral year, and I’m delighted to offer this support. While applications must come from organisations that support children and young people aged 0-18 years from disadvantaged backgrounds within the Derry City and Strabane District Council area, they must specifically nominate the individual young person who will benefit from the bursary.
“Individual young people cannot apply directly but are encouraged to reach out to the organisations they are involved with to express their interest in being considered. Schools can also apply. I hope this bursary will empower the successful candidate to overcome challenges, build their skills, and become more actively involved in their local community.”

The Mayor has recorded a video message to invite young people to apply that can be viewed on her social media pages.
For more information on the criteria and details on how to apply visit here
The deadline for applications is Friday March 28^th 2025.

MIL OSI United Kingdom –

March 4, 2025
MIL-OSI USA: Omalizumab treats multi-food allergy better than oral immunotherapy

Source: US Department of Health and Human Services – 2

News Release
Monday, March 3, 2025

High rate of oral immunotherapy side effects in NIH trial explains superiority of omalizumab.

A clinical trial has found that the medication omalizumab, marketed as Xolair, treated multi-food allergy more effectively than oral immunotherapy (OIT) in people with allergic reactions to very small amounts of common food allergens. OIT, the most common approach to treating food allergy in the United States, involves eating gradually increasing doses of a food allergen to reduce the allergic response to it. Thirty-six percent of study participants who received an extended course of omalizumab could tolerate 2 grams or more of peanut protein, or about eight peanuts, and two other food allergens by the end of the treatment period, but only 19% of participants who received multi-food OIT could do so. Researchers attributed this difference primarily to the high rate of allergic reactions and other intolerable side effects among the participants who received OIT, leading a quarter of them to discontinue treatment. When the participants who discontinued therapy were excluded from the analysis, however, the same proportion of each group could tolerate at least 2 grams of all three food allergens.
The findings were published in an online supplement to The Journal of Allergy and Clinical Immunology and presented at the 2025 American Academy of Allergy, Asthma & Immunology/World Allergy Organization Joint Congress in San Diego on Sunday, March 2, 2025.
“People with highly sensitive multi-food allergy previously had only one treatment option—oral immunotherapy—for reducing their allergic response to moderate amounts of those foods,” said Jeanne Marrazzo, M.D., M.P.H., director of NIH’s National Institute of Allergy and Infectious Diseases (NIAID), the study’s funder and regulatory sponsor. “This study shows that omalizumab is a good alternative because most people tolerate it very well. Oral immunotherapy remains an effective option if treatment-related adverse effects are not an issue.”
Omalizumab works by binding to the allergy-causing antibody called immunoglobulin E in the blood and preventing it from arming key immune cells responsible for allergic reactions. This renders these cells much less sensitive to stimulation by any allergen.
The current study is the second stage of a landmark clinical trial that found a 16-week course of omalizumab increased the amount of peanut, tree nuts, egg, milk and wheat that multi-food allergic children as young as 1 year could consume without an allergic reaction. This next stage of the trial was designed to directly compare omalizumab with OIT for the first time.
At 10 locations across the United States, the study team enrolled 177 children and adolescents ages 1 to 17 years and three adults ages 18 to 55 years, all with confirmed allergy to less than half a peanut and similarly small amounts of at least two other common foods among milk, egg, cashew, wheat, hazelnut or walnut. After completing the first stage of the trial, 117 individuals entered the second stage of the trial.
Upon beginning Stage 2, all participants received injections of omalizumab for eight weeks. Then the participants were randomly divided in half and placed into one of two groups. Group A received omalizumab injections and multi-allergen OIT for eight weeks, while group B received omalizumab injections and placebo OIT for eight weeks. Subsequently, group A received placebo injections and multi-allergen OIT for 44 weeks, while group B continued to receive omalizumab injections and placebo OIT for 44 weeks. Neither the participants nor the investigators knew who was in which treatment group.
Group A received omalizumab before and during their early months of OIT because data from prior studies suggested that pretreatment with the medication would significantly augment the safety of OIT, and continuing omalizumab during the early months of OIT would provide additional benefit.
During the study treatment period, 29 of 59 participants in group A discontinued therapy: 15 due to allergic reactions—some severe—or other intolerable symptoms of OIT, and 14 for other reasons, including aversion to the study foods or the burden of participating in the trial. No participants in group B had allergic reactions or other side effects from omalizumab that led them to discontinue therapy, but seven participants in group B left the study mainly due to the burden of participating in it. In all, 30 of the original 59 members of group A (51%) and 51 of the original 58 members of group B (88%) completed treatment.
After the study treatment period, the clinical trial team tested whether the participants who completed therapy could eat at least 2 grams of peanut protein and their two other study foods without an allergic reaction. Twenty-one of the original 58 participants in group B, or 36%, could tolerate at least 2 grams of all three foods, while only 11 of the original 59 participants in group A (the OIT-treated group), or 19%, could do so. When evaluating only the participants who completed therapy, however, the same proportion of each group could tolerate at least 2 grams of all three foods.
These results showed that omalizumab was more effective than OIT at treating multi-food allergy in people who originally had a very low tolerance to common food allergens. Investigators attributed this outcome mainly to the high rate of allergic reactions and other side effects leading to treatment discontinuation among the OIT-treated participants, despite receiving omalizumab before and during the early months of therapy.
The trial is called Omalizumab as Monotherapy and as Adjunct Therapy to Multi-Allergen OIT in Food Allergic Children and Adults, or OUtMATCH. The NIAID-funded Consortium for Food Allergy Research (CoFAR) is conducting the trial under the leadership of Robert Wood, M.D., and R. Sharon Chinthrajah, M.D. Dr. Wood is the Julie and Neil Reinhard Professor of Pediatric Allergy and Immunology and director of the Pediatric Clinical Research Unit at the Johns Hopkins University School of Medicine, Baltimore. Dr. Chinthrajah is an associate professor of medicine and of pediatric allergy and clinical immunology and the co-director of the Sean N. Parker Center for Allergy and Asthma Research at Stanford University School of Medicine, Stanford, California.
NIAID funds the ongoing trial with additional financial support from and collaboration with Genentech, a member of the Roche Group, and Novartis Pharmaceuticals Corporation. The two companies collaborate to develop and promote omalizumab and are supplying it for the trial.
Further information about the OUtMATCH trial is available at ClinicalTrials.gov under study identifier NCT03881696.
NIAID conducts and supports research—at NIH, throughout the United States, and worldwide—to study the causes of infectious and immune-mediated diseases, and to develop better means of preventing, diagnosing and treating these illnesses. News releases, fact sheets and other NIAID-related materials are available on the NIAID website.
About the National Institutes of Health (NIH): NIH, the nation’s medical research agency, includes 27 Institutes and Centers and is a component of the U.S. Department of Health and Human Services. NIH is the primary federal agency conducting and supporting basic, clinical, and translational medical research, and is investigating the causes, treatments, and cures for both common and rare diseases. For more information about NIH and its programs, visit www.nih.gov.
NIH…Turning Discovery Into Health®

Reference
RA Wood et al. Treatment of multi-food allergy with omalizumab compared to omalizumab-facilitated multi-allergen OIT. Journal of Allergy and Clinical Immunology DOI: 10.1016/j.jaci.2024.12.1022 (2025).

###

MIL OSI USA News –

March 4, 2025
MIL-OSI: Risk Strategies Appoints Melissa Lewis as Chief Operating Officer, Commercial Lines
Source: GlobeNewswire (MIL-OSI)

BOSTON, March 03, 2025 (GLOBE NEWSWIRE) — Risk Strategies, a leading national specialty insurance brokerage and risk management and consulting firm, today announced Melissa Lewis has been appointed to succeed Drew Carnase as Chief Operating Officer, Commercial Lines. Carnase is retiring after over 30 years in the industry.

Lewis came to Risk Strategies in 2023, developing a unification strategy for assimilating acquisitions and spearheading the creation of the firm’s Integration Management Office. She then built a Business Operations team designed to help leaders implement corporate initiatives, maximize time spent supporting teams and clients, and drive growth.

“Melissa is a transformational leader who has made us better with everything she’s touched,” said John Scroope, National Director of Retail Operations, Risk Strategies. “She is absolutely the right person to succeed Drew and push the Commercial Lines operations to the next level in terms of innovation, support, and growth.”

In her new role as Chief Operating officer, Commercial Lines, Lewis will focus on:
- Generating profitable growth while expanding market share for the firm
- Building out effective support systems for sales and service teams
- Ensuring consistent delivery of a market-leading client experience
- Inspiring an energized commitment to focus, ownership, and accountability
“I am excited to take on this new challenge,” said Lewis. “I feel confident that my industry experience, the groundwork Drew has laid, and the firm’s culture of collaboration and entrepreneurship will ensure success in both the near and long term.”

Prior to Risk Strategies, Lewis held increasingly responsible positions over the course of more than 30 years, including serving as Regional Operating Officer and Head of Client Service, North America for a top five broker. Based in Overland Park, Kansas, she is a native of the state and holds an associate degree in paralegal studies from Brown Mackie College.

To learn more about Risk Strategies, please visit www.riskstrategies.com.

About Risk Strategies

Risk Strategies, part of Accession Risk Management Group, is a North American specialty brokerage firm offering comprehensive risk management services, property and casualty insurance and reinsurance placement, employee benefits, private client services, consulting services, and financial & wealth solutions. The 9th largest U.S. privately held broker, we advise businesses and personal clients, have access to all major insurance markets, and 30+ specialty industry and product line practices and experts in 200+ offices – Atlanta, Boston, Charlotte, Chicago, Dallas, Grand Cayman, Kansas City, Los Angeles, Miami, Montreal, Nashville, New York City, Philadelphia, San Francisco, Toronto, and Washington, DC. RiskStrategies.com

Media Contact

Alana Bannan

Senior Account Executive

(720) 400-8025

Rsc@matternow.com

The MIL Network –
March 4, 2025
MIL-OSI: Creatd, Inc. Finalizes $8.3M Flewber Acquisition, Unveils AI-Powered Flyte to Transform the Private Air Travel Industry
Source: GlobeNewswire (MIL-OSI)
- $8.3M acquisition fuels strategic transformation, leveraging Creatd’s tech, data, and AI capabilities
- Streamlined operations position Flyte for rapid expansion and profitability
- Flyte redefines on-demand air travel with a focus on regional connectivity, private charters, and curated getaways
NEW YORK, March 03, 2025 (GLOBE NEWSWIRE) — Creatd, Inc. (OTC: CRTD) has officially closed its acquisition of Flewber Global, Inc. for $8.3 million and is guiding its transformation into Flyte, Inc., a next-generation regional air mobility platform. Through Creatd’s strategic oversight, Flyte is optimizing operations, enhancing its AI-driven booking technology, and positioning itself for long-term profitability in the $28.5 billion regional air mobility market.

Streamlined Operations, Focused Growth

Flyte is built around three high-margin revenue verticals:
- Hops: A more visionary approach to regional business travel, leveraging underutilized airports to bypass congested commercial hubs.
- Luxe: On-demand private jet charters with white-glove service and optimized routes.
- Escapes: Curated travel experiences that combine flights with premium hospitality partners.
With a streamlined business model and enhanced operational efficiencies, Flyte has the potential to scale rapidly while maintaining financial discipline.

Leveraging Tech, Data, and AI for Profitability

Flyte’s AI-driven booking system, real-time flight analytics, and route optimization technology are designed to increase efficiency and elevate customer experience, ensuring high-margin, sustainable growth.

“Regional air mobility is entering a new era, and Flyte is positioned at the forefront of that transformation,” said Jeremy Frommer, CEO of Creatd. “By integrating our expertise in AI, data, and operational efficiency, we are driving Flyte toward cash-flow positivity and long-term market leadership.”

Expanding Partnerships & Market Reach

Flyte is actively growing its network of corporate travel programs, luxury hospitality brands, and exclusive destination partners. Secured seat-block agreements with key partners ensure consistent demand and recurring revenue.

“Flewber was just the beginning—Flyte is our future,” said Marc Sellouk, CEO of Flewber. “With Creatd’s backing, we are building a technology platform that connects travelers with their destinations more efficiently, whether for business, leisure, or a premium luxury experience.”

Investor Outlook & Next Steps

The transition from Flewber to Flyte is underway, with an updated investor presentation available here: https://www.creatd.com/presentations. 2025 marks a pivotal year as Flyte expands its footprint, strengthens profitability, and accelerates its market penetration.

About Creatd:

Creatd, Inc. is a publicly traded holding company that focuses on investments and operations across technology, media, advertising, and consumer sectors. By leveraging its expertise in structured finance and acquisitions, Creatd identifies and nurtures opportunities within small-cap companies, driving growth and innovation across its diverse portfolio. For more information, visit https://www.creatd.com/

About Flyte:

Flyte, Inc., previously Flewber Global, Inc. is a pioneering private aviation company dedicated to revolutionizing air travel through accessibility, convenience, and technology-driven innovation. By leveraging a seamless booking platform and a unique on-demand model, Flyte provides travelers with a more efficient and cost-effective alternative to traditional private jet charters. For more information, visit http://www.flewber.com/

Contact:
ir@creatd.com

Forward Looking Statements: This statement includes forward-looking statements, which are based on current expectations, beliefs, and assumptions about future events and are subject to uncertainties and risks that could cause actual results to differ materially. These statements often contain terms like “expected,” “anticipated,” and “estimated.” Factors influencing future outcomes are unpredictable and may emerge over time. We do not commit to updating any forward-looking statement post its publication date. Our SEC filings provide further details and risk disclosures.

The MIL Network –
March 4, 2025
MIL-OSI: ZOOZ Power: Leading Charge Point Operator in China to install ZOOZ Power’s Boosting System, Marking Strategic Entry into the World’s Largest EV Market

Source: GlobeNewswire (MIL-OSI)

Tel-Aviv, Israel, March 03, 2025 (GLOBE NEWSWIRE) — ZOOZ Power Ltd. (Nasdaq: ZOOZ, TASE: ZOOZ), a leading provider of flywheel-based power boosters and energy management systems for enabling ultra-fast EV charging solutions, announced today that it has shipped its first power-boosting system, the ZOOZTER^™-100, to China. The commercial arrangements were made through a related party of ZOOZ Power in China. The site where ZOOZTER^™-100 will be installed was developed by Yixiaoju Technology Co., Ltd, a company that operates numerous locations within the Orange Charging (Xiaoju) network. Orange Charging, a sub-brand of DiDi’s energy sector, is China’s largest charging network, operating over 115,000 fast chargers. As the foremost mobility services platform in China and a publicly traded company in the U.S. with a market cap of $24.3 billion, DiDi’s ecosystem offers a significant opportunity for ZOOZ Power to extend its presence in this rapidly growing market.

China’s electric vehicle (EV) market is experiencing unprecedented growth, with EVs accounting for nearly 50% of total car sales in 2024⁽¹⁾. This surge highlights the increasing demand for efficient charging solutions. In addition to enhancing the capabilities of Yixiaoju’s charging station, the Shanghai pilot installation will also serve as a vehicle for market penetration of ZOOZ Power’s flywheel-based power-boosting technology coupled with ZOOZ’s proven Energy Management System to the Chinese market. By providing a reliable and highly efficient solution for high-power EV charging, ZOOZ Power aims to support the expansion of ultra-fast charging networks while reducing the strain on local electricity grids.

“Shipping our first system to China is a significant step in ZOOZ Power’s penetration into the Chinese market,” said Erez Zimerman, CEO of ZOOZ Power. “China is the undisputed leader in electric vehicle adoption and charging infrastructure, and we see tremendous potential for our technology in this market. We are thrilled to have an opportunity to demonstrate the benefits of our sustainable power-boosting solution to China’s top EV players. This is just the beginning of our journey in China, and we look forward to further opportunities to contribute to the country’s ambitious electrification goals.”

ZOOZ Power’s innovative flywheel-based technology enables ultra-fast charging even in locations with limited grid capacity, eliminating the need for expensive grid upgrades and while maximizing charging station effectiveness. The company’s solution has already been deployed in multiple locations across Europe and North America, and this latest move signals its strategic focus on expanding into China’s rapidly growing EV market.

About ZOOZ Power

ZOOZ is the leading provider of Flywheel-based Power Boosting and Energy Management solutions, enabling the widespread deployment of ultra-fast charging infrastructure for electric vehicles (EVs) while overcoming existing grid limitations.

ZOOZ pioneers its unique flywheel-based power-boosting technology, enabling efficient utilization and power management of a power-limited grid at an EV charging site. Its Flywheel technology allows high-performance, reliable, and cost-effective ultra-fast charging infrastructure.

ZOOZ Power’s sustainable, power-boosting solutions are built with longevity and the environment in mind, helping its customers and partners accelerate the deployment of fast-charging infrastructure, thus facilitating improved utilization rates, better efficiency, greater flexibility, and faster revenues and profitability growth. ZOOZ is publicly traded on NASDAQ and TASE under the ticker ZOOZ
For more information, please visit: www.zoozpower.com/

Investor Contact:
Miri Segal – CEO
MS-IR LLC
msegal@ms-ir.com

Media enquiries:
Media@zoozpower.com

Forward-Looking Statement

This press release contains “forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended, and the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on the current beliefs, expectations, and assumptions of ZOOZ Power. All statements other than statements of historical facts contained in this press release, including statements regarding ZOOZ Power, and any of ZOOZ Power’s strategy, future operations and statements related to the collaboration between ZOOZ Power and “ON” charging network (including any plans to implement ZOOZ Power’s solution and upgrade an additional site of “ON” on Route 6) are forward-looking statements. These statements involve known and unknown risks, uncertainties and other important factors that may cause ZOOZ Power’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks and other risks and uncertainties are more fully discussed in the “Risk Factors” section of ZOOZ’s most recent Annual Report on Form 20-F as filed with the U.S. Securities and Exchange Commission (“SEC”) as well as other documents that may be subsequently filed by the Company from time to time with the SEC. The words “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements include, but are not limited to, statements relating to deployment of public ultra-fast charging infrastructure, the potential outcome of ZOOZ Power’s collaborations with third parties for installation of its flywheel-based power boosting solution, statements regarding the opportunity for ZOOZ Power to extend its presence in China, statements regarding growth in the Chinese market, statements regarding the expansion of ultra-fast charging networks and conditions in Israel and in the Middle East, including the effect of the evolving nature of the ongoing “Swords of Iron” war, may adversely affect ZOOZ Power’s operations. These forward-looking statements are only estimations, and ZOOZ Power may not actually achieve the plans, intentions or expectations disclosed in any forward-looking statements, so you should not place undue reliance on any forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in forward-looking statements made in this Press Release. Management of ZOOZ Power has based these forward-looking statements largely on current expectations and projections about future events and trends that such persons believe may affect ZOOZ Power’s business, financial condition and operating results. Forward-looking statements contained in this Press Release are made as of the date hereof, and none of ZOOZ Power or any of its representatives or any other person undertakes any duty to update such information except as may be expressly required under applicable law.

¹ https://www.asiafinancial.com/one-in-nearly-every-two-cars-sold-in-china-was-electric-in-2024

The MIL Network –

March 4, 2025
MIL-OSI: Jeito Capital announces significant participation in $187 million Series A financing for Callio Therapeutics to advance innovative multi-payload ADC programs designed to maximize therapeutic benefit for cancer patients
Source: GlobeNewswire (MIL-OSI)

Jeito Capital announces significant participation in $187 million Series A financing for Callio Therapeutics to advance innovative multi-payload ADC programs designed to maximize therapeutic benefit for cancer patients
- Callio Therapeutics is a biotechnology company developing multi-payload ADCs with technology and programs exclusively in-licensed from Singapore-based Hummingbird Bioscience
- Investment will contribute to achieve clinical proof-of-concept for
  Callio’s HER-2-targeted dual-payload ADC and a second undisclosed ADC program
- Jeito’s investment reinforces its commitment to cutting-edge oncology innovations addressing treatment resistance and improving patient outcomes
Paris, March 3^rd2025 – Jeito Capital (“Jeito”), a global leading independent Private Equity fund dedicated to biopharma, announced today its significant participation in the $187 million (€180.2 million¹) Series A financing round in Callio Therapeutics (“Callio”), a newly launched biotechnology company focused on realizing the promise of multi-payload antibody-drug conjugates (ADCs) to improve cancer therapy.

Callio Therapeutics was founded by Frazier Life Sciences to develop next-generation multi-payload antibody-drug conjugates (ADCs) based on technology and programs exclusively in-licensed from Singapore-based Hummingbird Bioscience. The company is led by co-founder and CEO Piers Ingram, PhD, alongside a founding management team with deep expertise in ADC development bringing experience from leading biotechnology and biopharmaceutical companies (including Hummingbird Bioscience, ProfoundBio, Silverback Therapeutics, SeaGen, Medarex, and Genentech).

The $187 million Series A financing was led by Frazier Life Sciences with significant participation from Jeito alongside an investment syndicate including Novo Holdings A/S Omega Funds, ClavystBio, Platanus, Norwest, Pureos Bioventures, SEEDS Capital and EDBI. The strength of this syndicate underscores the broad confidence in Callio’s innovative ADC platform and its potential to reshape cancer therapy.

Callio Therapeutics will use the proceeds from the Series A financing to achieve clinical proof-of-concept for its HER2-targeted dual-payload ADC and a second undisclosed ADC program, all designed to maximize therapeutic benefit for cancer patients by overcoming the limitations of single-payload therapies. By enabling the targeted delivery of rational drug combinations to tumor cells, Callio’s approach has the potential to significantly enhance efficacy and address resistance mechanisms.

Rachel Mears, Partner at Jeito will join Callio’s Board of Director as Board member.

Through this investment, Jeito reinforces its commitment to supporting transformative oncology innovations that address key resistance mechanisms in cancer treatment. Callio’s differentiated multi-payload ADC platform aligns with Jeito’s investment thesis of backing high-potential biopharma companies developing next-generation therapies with the potential for global leadership.

Dr Rafaèle Tordjman, MD, PhD, Founder and CEO of Jeito Capital said: “We are pleased to support Callio Therapeutics as it advances its differentiated multi-payload ADC platform to address some of the biggest challenges in oncology. As long-standing investors in this therapeutic area, we recognize the quality and potential of Callio’s approach to overcome resistance mechanisms and improve outcomes for patients with hard-to-treat cancers. At Jeito, we believe that strategic collaboration and bold innovation are key to accelerating the next generation of targeted therapies, and we look forward to working alongside the Callio team to bring these advances to patients in need. “

Rachel Mears, Parner at Jeito Capital added: “Callio is a highly innovative company that benefits from an experienced management team and deep expertise in oncology, where new therapies remain highly needed for those suffering from various forms of cancer. We look forward to collaborating with Callio’s team through our collective knowledge and expertise in both ADC and oncology with the ambition to go faster to patients with high unmet needs. “

Piers Ingram, PhD, co-founder and Chief Executive Officer of Callio Therapeutics concluded: “We are delighted to be launching Callio Therapeutics with this very strong syndicate of investors. Multi-payload ADCs have the potential to enable the targeted delivery of rational drug combinations to cancer cells, and may provide significantly enhanced efficacy. This new generation of ADC therapies may meaningfully improve outcomes for patients.”

About Jeito Capital
Jeito Capital is a global leading Private Equity fund with a patient benefit driven approach that finances and accelerates the development and growth of ground-breaking medical innovation. Jeito empowers and supports managers through its expert, integrated, multi-talented team and through the investment of significant capital to ensure the growth of companies, building market leaders in their respective therapeutic areas with accelerated patients’ access globally, especially in Europe and the United States. Jeito Capital has €534 million under management and a rapidly growing portfolio of investments. Jeito Capital is based in Paris with a presence in Europe and the United States.
For more information, please visit www.jeito.life or follow us on LinkedIn or X.

About Callio Therapeutics
Headquartered in Seattle and Singapore, Callio Therapeutics is focused on realizing the promise of multi-payload antibody-drug conjugates to transform cancer patient outcomes. The company is developing next-generation, multi-payload antibody-drug conjugates (ADCs) that feature differentiated payload and linker technologies that enable targeted delivery of multi agents to tumor cells to maximize therapeutic benefit. Callio Therapeutics’ lead program is a HER2-targeted dual-payload ADC. Callio Therapeutics was created by Frazier Life Sciences, a longstanding investment firm focused on innovative therapeutics, based on ADC technology and programs exclusively in-licensed from Hummingbird Bioscience. For more information , please visit www.calliotx.com and follow Callio Therapeutics on LinkedIn.

Contacts:
Jeito Capital
Rafaèle Tordjman, Founder & CEO
Jessica Fadel, EA
Tel: +33 6 33 44 25 47

Maior
Stéphanie Elbaz – Tel: +33 6 46 05 08 07

ICR Healthcare
Mary-Jane Elliott / Davide Salvi / Kris Lam
Jeito@icrhealthcare.com
Tel: +44 (0) 20 3709 5700

¹EUR/USD exchange rate: 1 EUR = 1.0377 USD date February 7, 2025 (source: Banque de France)

The MIL Network –
March 4, 2025
MIL-OSI: FinWise Bancorp Appoints Jim Noone as Chief Executive Officer of FinWise Bank

Source: GlobeNewswire (MIL-OSI)

MURRAY, Utah, March 03, 2025 (GLOBE NEWSWIRE) — FinWise Bancorp (NASDAQ: FINW) (“FinWise” or the “Company”), parent company of FinWise Bank (the “Bank”), today announced the appointment of Jim Noone to Chief Executive Officer (“CEO”) of the Bank, in addition to his current responsibilities as Bank President. Kent Landvatter will remain Chairman of the Board and CEO of FinWise Bancorp as well as the Executive Chairman of FinWise Bank.

Mr. Noone’s ascension to CEO and President of the Bank comes after seven years of successful leadership at FinWise, including through the Company’s pivotal initial public offering. He joined the Bank in February of 2018, was named Executive Vice President and Chief Credit Officer in June of 2018 and was named President of the Bank in March of 2023. Mr. Noone has over 20 years of financial services experience including commercial banking, investment banking and private equity.

“Jim has been instrumental in helping shape our strategic roadmap, developing our infrastructure and creating innovative banking products that drive customer value. I am confident in his abilities to manage the organization’s day-to-day operations,” said Kent Landvatter, CEO and Chairman of the Board of FinWise Bancorp. “Jim will continue to work closely with me on the Bank’s long-term strategy and market positioning to deliver shareholder value.”

“I am honored and humbled to step into the role of CEO and President of FinWise Bank. Kent’s leadership and mentorship have been a steady guide to me and for the entire executive team. I look forward to continuing to collaborate with Kent, our employees, partners and regulators to deliver the next stage of growth for the Bank,” said Jim Noone. “Our opportunities and relationships have never been stronger. Our commitment to banking innovation and to delivering meaningful and long-term benefits to our employees, our customers and our shareholders remains strong.”

About FinWise

FinWise provides Banking and Payments solutions to fintech brands. The Company is expanding and diversifying its business model by incorporating Payments (MoneyRails ™) and BIN Sponsorship offerings. Its existing Strategic Program Lending business, conducted through scalable API-driven infrastructure, powers deposit, lending and payments programs for leading fintech brands. As part of Strategic Program Lending, FinWise also provides a Credit Enhancement Program, which addresses the challenges that lending and card programs face diversifying their funding sources and managing capital efficiency. In addition, FinWise manages other Lending programs such as SBA 7(a), Owner Occupied Commercial Real Estate, and Leasing, which provide flexibility for disciplined balance sheet growth. Through its compliance oversight and risk management-first culture, the Company is well positioned to guide fintechs through a rigorous process to facilitate regulatory compliance.

https://www.finwise.bank/

Contacts

investors@finwisebank.com
media@finwisebank.com

The MIL Network –

March 4, 2025
MIL-OSI Global: Who’s my dad? In South Africa that’s a complex question – report tracks the rise of ‘social fathers’

Source: The Conversation – Africa – By Wessel Van Den Berg, Research fellow, Stellenbosch University

The State of South Africa’s Fathers 2024 report is published by the new Tataokhona project at Stellenbosch University. The project focuses on research and interventions related to fathers and fatherhood. This is the third edition of this report, and offers valuable insights into the evolving realities of fatherhood in South Africa. Co-authors Wessel van den Berg, Mandisa Malinga, Kopano Ratele and
Tawanda Makusha explain why it’s critical to examine the changing role of men in families.

What were some of the key findings of the report?

The report presents data from the General Household Survey 2023 and a survey of adult caregivers in South Africa, also done in 2023.

One of the key findings is that 76% of children in South Africa live with an adult male in the household. This is often overlooked when the media and researchers focus on children’s co-residence with fathers.

However, fewer children live with their biological fathers than with other men. The percentage of children who live with their biological fathers has dropped from 45.3% in 1996 to 35% in 2023.

This decline is linked to broader societal factors, including economic instability, migration patterns, and shifts in traditional family structures.

Never have so few children been recorded as living with their biological fathers, nor have so many lived with other men like uncles, grandfathers, older brothers or mothers’ new partners.

As researchers, policymakers and other development practitioners, we need to explore the contribution men make in their families, biological or otherwise.

The case studies and contributions from authors across the country underscore that while physical presence is important, the quality of engagement between the father figure and child is even more crucial.

Encouraging positive father-child relationships through legal, workplace and social policy changes could help mitigate the known effects of not living together.

What did the survey reveal about who provides for children?

Traditionally, fatherhood has been closely linked to financial provision. However, economic hardships and shifting gender roles are reshaping this expectation.

Co-residence goes down as income goes down. Many fathers, particularly those facing unemployment or economic hardship, struggle to maintain active participation in their children’s lives.

Many fathers are also forced to migrate to find work.

Those men who cannot provide do not see any other role for themselves in children’s lives, and so they disengage.

Data from the State of the World’s Fathers 2023 survey showed that in South Africa 85% of women financially supported their biological children, compared to 80% of men. Most children are supported by both parents, but mothers bear a higher financial burden than fathers.

Women are also more likely than men to provide for non-biological children (50% vs 44%).

These figures highlight the growing financial responsibilities shouldered by women and the need to redefine fatherhood beyond economic provision.

The increasing financial burden on women also reveals deep-seated inequalities in wage distribution and employment opportunities.

Many fathers who wish to support their children financially face obstacles such as unemployment and precarious work conditions.

While some men have adapted by taking on caregiving roles, society still puts pressure on them to prioritise financial contribution over direct caregiving.

This paradox creates stress and identity struggles for many fathers. It reinforces the need for supportive policies like paid parental leave and father-focused caregiving initiatives.

Read more:
Men say they are spending more time on household chores, and would like to do more – survey of 17 countries

What does the survey tell us about ‘social fathers’?

With only a minority of children living with their biological fathers, social fathers – men who provide care despite not being biologically related to the child – have become increasingly significant. The State of the World’s Fathers 2023 survey found for example that of the men who care for children whom they had not biologically fathered, 51.1% of the men played with the children, 50.2% provided financial support, and 40.2% read books with them.

The report emphasises that 40% of children reside with men who are not their biological fathers, a trend that has grown since 1996. We believe these men can and should be encouraged to step into the role of social fathers. They include grandfathers, uncles, stepfathers, teachers and community leaders who contribute to children’s emotional and material well-being.

However, social fathers lack legal recognition and support in South Africa. This makes it harder for them to access resources that could help them provide better care.

Policymakers and community organisations must recognise and formalise the contributions of social fathers to ensure children receive consistent and supportive care.

What happens now?

Many men struggle to find their place in a rapidly evolving society where gender expectations are no longer fixed.

The rise of feminism and women’s empowerment has rightly expanded opportunities for women, but has left a gap in guiding men towards constructive ways of engaging with these changes.

Read more:
Unpaid care work still falls on women: seven steps that could shift the balance

Additionally, it remains true that more women than men are unemployed. This is primarily due to societal expectations that women should be homemakers or primary caregivers.

Policies that recognise diverse forms of fatherhood will be essential in fostering positive father-child relationships for future generations.

Wessel Van Den Berg works for Equimundo: Center for Masculinities and Social Justice.

Kopano Ratele is a member of the Psychological Society of South Africa.

Mandisa Malinga has previously received research funding from the National Research Foundation of South Africa.

Tawanda Makusha is affiliated with the University of KwaZulu-Natal

– ref. Who’s my dad? In South Africa that’s a complex question – report tracks the rise of ‘social fathers’ – https://theconversation.com/whos-my-dad-in-south-africa-thats-a-complex-question-report-tracks-the-rise-of-social-fathers-249763

MIL OSI – Global Reports –

March 4, 2025
MIL-OSI United Kingdom: New community shop opens for Wolverhampton residents

Source: City of Wolverhampton

Residents in Bushbury and surrounding areas will have the new community shop on their doorstep after it’s relocation from Low Hill Community centre. Anyone in the city will be able to reduce the cost of their weekly shop by popping in for a wide range of food from fresh fruit and vegetables to store cupboard items and fresh bread.

It’s the latest community shop to join the city wide network, which also includes the flagship shop and Pomegranate Café at the Queen’s Building in Victoria Square in the city centre.

Shoppers can save a lot of money every week on groceries by using the community shops instead of major supermarkets.

The council helped create the shops with an initial investment from the government’s Household Support Fund and provides on-going support, but they are run day to day by staff and volunteers at community centres and hubs.

Leader of the City of Wolverhampton Council, Councillor Stephen Simkins said he was glad the council had been able to work with the community to create this new shop.

‘These shops are for everyone who lives in Wolverhampton and have already helped many residents across the city save so much money on their weekly food bills over the last few years.

‘The council is committed to the future of community shops, as they really do offer a way for people to do the best for their families in these difficult times. They also help our local economy, which helps everyone in the city in the long-term.

‘This is just one of the many ways as a council we’re trying to help our citizens deal with the on-going challenges of the high cost of living. Food remains the number one item in regards to cost of living, with which residents need our help.’

Kim Payne, WV10 Consortium Partnership manager said: ‘Opening a community shop here at Fifth Avenue will be a fantastic source of support for local people that will complement other services provided here at the community centre by Bushbury Hill Estate Management board and WV10 Consortium.

‘Please drop by and see what’s on offer, we’ll have plenty of fresh produce and seasonal deals as well as every day essentials for healthy and tasty meals.’

For more information visit WV10 Consortium and for more details about other community shops across the city and other cost of living support available from the council check out our web pages.

Pocket to Plate is another key project the council developed to help residents provide nutritious and tasty food for themselves and their families on a budget.

Community chefs Prince and Simon, who both work out of Fifth Avenue, also join forces with self-taught cook and tiktok star Mitch Lane every Thursday to release new recipes and how to cook them as part of Pocket to Plate.

Follow @pocketoplate now on Instagram, tiktok and youtube to view the latest and keep an eye out for them using produce from the shop to inspire your next home-cooked meal.

MIL OSI United Kingdom –

March 4, 2025
MIL-OSI: Cyabra to Participate in the 37th Annual ROTH Conference on March 17-18

Source: GlobeNewswire (MIL-OSI)

New York, NY, March 03, 2025 (GLOBE NEWSWIRE) — Cyabra Ltd. (Nasdaq: TBMC) a leading AI platform for real-time disinformation detection, today announced its participation in the 37th Annual ROTH Conference on March 17-18, 2025, in Dana Point, CA.

During the conference, Dan Brahmy, Cyabra’s Chief Executive Officer and co-founder, will be available for one-on-one investor meetings on both days. To schedule a meeting, please contact your Roth representative.

Cyabra has entered into a business combination agreement with Trailblazer Merger Corporation I (NASDAQ: TBMC), a blank-check special-purpose acquisition company.

About the 37^thAnnual Roth Conference

This year’s event will consist of 1-on-1 / small group meetings, analyst-selected fireside chats, industry keynotes and panels with executive management attending from approximately 450 private and public companies in a variety of growth sectors including: Business Services, Consumer, Healthcare, Industrial Growth, Insurance, Resources, Sustainability and Technology, Media & Entertainment.

About Cyabra

Cyabra Strategy Ltd. is a real-time AI-powered platform that uncovers and analyzes online disinformation and misinformation by uncovering fake profiles, harmful narratives, and GenAI content across social media and digital news channels. Cyabra’s AI protects corporations and governments against brand reputation risks, election manipulation, foreign interference, and other online threats. Cyabra’s platform leverages proprietary algorithms and NLP solutions, gathering and analyzing publicly available data to provide clear, actionable insights and real-time alerts that inform critical decision-making. Cyabra uncovers the good, bad, and fake online.

For more information, visit www.cyabra.com.

Media Contact:

Jill Burkes
Jill@cyabra.com

Investor Relations Contact:

Miri Segal
MS-IR
msegal@ms-ir.com

About Trailblazer

Trailblazer is a blank check company formed for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or other similar business combination with one or more businesses or entities. For more information, visit: www.trailblazermergercorp.com

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the federal securities laws with respect to certain products and services that are the subject of a proposed transaction (the “Business Combination”) between Trailblazer and Cyabra. All statements other than statements of historical facts contained in this press release, including statements regarding Cyabra’s business strategy, products and services, research and development costs, plans and objectives of management for future operations, and future results of current and anticipated product offerings, are forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including, but not limited to, the following risks relating to the proposed transaction: the ability to complete the Business Combination or, if Trailblazer does not consummate such Business Combination, any other initial business combination; expectations regarding Cyabra’s strategies and future financial performance, including its future business plans or objectives, prospective performance and opportunities and competitors, revenues, products and services, pricing, operating expenses, market trends, liquidity, cash flows and uses of cash, capital expenditures, and Cyabra’s ability to invest in growth initiatives and pursue acquisition opportunities; the occurrence of any event, change or other circumstances that could give rise to the termination of the Business Combination Agreement; the outcome of any legal proceedings that may be instituted against Trailblazer or Cyabra following announcement of the Business Combination Agreement and the transactions contemplated therein; the inability to complete the proposed Business Combination due to, among other things, the failure to obtain Trailblazer stockholder approval; the risk that the announcement and consummation of the proposed Business Combination disrupts Cyabra’s current operations and future plans; the ability to recognize the anticipated benefits of the proposed Business Combination; unexpected costs related to the proposed Business Combination; the amount of any redemptions by existing holders of Trailblazer’s common stock being greater than expected; limited liquidity and trading of Trailblazer’s securities; geopolitical risk and changes in applicable laws or regulations; the size of the addressable markets for Cyabra’s products and services; the possibility that Trailblazer and/or Cyabra may be adversely affected by other economic, business, and/or competitive factors; the ability to obtain and/or maintain the listing of the combined company’s common stock on Nasdaq following the Business Combination; operational risk; and the risks that the consummation of the proposed Business Combination is substantially delayed or does not occur.

Important Information for Investors and Stockholders

In connection with the Business Combination, Trailblazer Holdings, Inc., a subsidiary of Trailblazer (“Holdings”) has filed a registration statement on Form S-4 (the “Registration Statement”) with the United States Securities and Exchange Commission (the “SEC”), which includes a preliminary proxy statement/prospectus, and certain other related documents, which will be both the proxy statement to be distributed to holders of shares of Trailblazer’s common stock in connection with its solicitation of proxies for the vote by its stockholders with respect to the Business Combination and other matters as may be described in the Registration Statement, as well as the prospectus of Holdings relating to the offer and sale of its securities to be issued in the Business Combination. . After the Registration Statement is declared effective, the proxy statement/prospectus will be sent to all Trailblazer stockholders so that they may vote on the Business Combination.

INVESTORS AND STOCKHOLDERS OF TRAILBLAZER ARE URGED TO READ CAREFULLY THE REGISTRATION STATEMENT, PROXY STATEMENT/PROSPECTUS, AND OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SEC WHEN THEY BECOME AVAILABLE, AS THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE BUSINESS COMBINATION AND THE PARTIES INVOLVED.

Trailblazer stockholders are currently able to obtain copies of the preliminary proxy statement/prospectus and other documents filed with the SEC that are incorporated by reference therein, and will be able to obtain the definitive proxy statement/prospectus and other documents filed with the SEC that will be incorporated by reference therein, once available, in all cases without charge, at the SEC’s web site at www.sec.gov, or by directing a request to: Trailblazer at 510 Madison Avenue, Suite 1401, New York, NY 10022, Telephone: 646-747-9618.

Participants in the Solicitation

Cyabra, Trailblazer, and their respective directors and executive officers may be deemed participants in the solicitation of proxies from Trailblazer stockholders regarding the proposed Business Combination. Information about Trailblazer’s directors and executive officers and their ownership of Trailblazer’s securities is set forth in the proxy statement/prospectus pertaining to the proposed Business Combination.

No Offer or Solicitation

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, or a solicitation of any vote or approval. No sale of securities shall occur in any jurisdiction in which such offer, solicitation, or sale would be unlawful before registration or qualification under applicable

The MIL Network –

March 4, 2025
MIL-OSI: Central 1 and Intellect Design Arena Ltd. Conclude Operating Partnership Transaction Digital banking operations transferred as of March 3, 2025

Source: GlobeNewswire (MIL-OSI)

VANCOUVER, British Columbia and TORONTO, March 03, 2025 (GLOBE NEWSWIRE) — Central 1 Credit Union (Central 1) and Intellect Design Arena Ltd. (Intellect) today announced the completion of all necessary closing activities for the operating partnership agreement in which Intellect will assume responsibility for Central 1’s digital banking operations.

Effective March 3, 2025, operation of Central 1’s Forge, MemberDirect, public website and mobile applications and products, will be transferred to Intellect. Team members from Central 1’s digital banking engineering and service teams will also join the Intellect team to operate Central 1’s digital banking software and support clients as they transition to new digital banking platforms.

Central 1 will continue to provide the technology infrastructure and related services.

“The Intellect team, along with those joining from Central 1, bring a strong commitment to seamless service and collaboration. We are confident that this approach provides the most stable path forward for clients and for Central 1 as transitions to new digital banking platforms take place over the next few years,” said Sheila Vokey, CEO of Central 1.

“We are pleased to welcome the Central 1 team members joining Intellect and reaffirm our deep commitment to credit unions and banks in Canada. As trusted financial partners to millions, credit unions are pivotal in fostering economic resilience and community-driven banking. Their ability to stay ahead in a rapidly evolving landscape depends on a strong digital foundation that balances innovation with stability,” said Rajesh Saxena, CEO of Intellect Global Consumer Banking.

About Central 1: Central 1 cooperatively empowers credit unions and other financial institutions who deliver banking choice to Canadians. With assets of $11.6 billion as of September 30, 2024, Central 1 provides critical payments, treasury and clearing and settlement services at scale to enable the credit union system. We do this by collaborating with our clients, developing strategies, products, and services to support the financial well-being of their more than five million diverse customers in communities across Canada. For more information, visit central1.com. 

About Intellect Design: Intellect is an enterprise-grade financial technology leader, providing composable and intelligent solutions for futuristic global financial institutions across 57 countries. Intellect’s revolutionary First Principles Thinking-based Platform, eMACH.ai, is the most comprehensive, composable, and intelligent open finance platform in the world. With three decades of domain expertise, Intellect Design offers a full spectrum of banking and insurance technology products through four lines of business: Global Consumer Banking (iGCB), Global Transaction Banking (iGTB), IntellectAI and Digital Technology for Commerce (iDTC). Intellect Canada delivers proven Retail and Commercial Banking solutions, including Core Banking and Digital platforms, tailored to meet the unique needs of Canadian financial institutions of all sizes. To know more, visit intellectdesign.com

Caution Regarding Forward Looking Statements
This press release and announcement contains historical, forward-looking statements as well as statements about the timing and completion of closing activities and the nature and quality of the services, collaboration and timing of transitions to new digital banking platforms. All statements and other information about anticipated future events may constitute “forward-looking information” under Canadian securities laws. These include, without limitation, statements relating to Central 1’s intention to wind down its digital banking business, and the timeline and processes relating to the same, Central 1’s plans to transition its clients to alternative digital banking providers, as well as statements that contain the words “may,” “will,” “intends” and “anticipates” and other similar words and expressions.

Forward-looking information are or may be based on assumptions, uncertainties, and management’s best estimates of future events. Central 1 has based the forward-looking statements on current plans, information, data, estimates, expectations, and projections about, among other things, results of operations, financial, condition, prospects, strategies and future events, and therefore undue reliance should not be placed on them. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made. Actual results may differ materially from those currently anticipated. Securityholders are cautioned that such forward-looking statements involve risks and uncertainties. Certain important assumptions by Central 1 in making forward-looking statements include, but are not limited to, competitive conditions, economic conditions and regulatory considerations. Important risk factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include economic risks, regulatory risks (including legislative and regulatory developments), risks and uncertainty from the impact of rising or falling interest rates, information technology and cyber risks, environmental and social risk (including climate change), digital disruption and innovation, reputation risk, competitive risk, privacy, data and third-party related risks, risks related to business and operations, risks relating to the transition of clients to alternative digital banking providers, and other risks detailed from time to time in Central 1’s periodic reports filed with securities regulators. Given these risks, the reader is cautioned not to place undue reliance on forward-looking statements. Central 1 undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable laws.

Contacts

The MIL Network –

March 4, 2025
MIL-OSI: LPL Welcomes Financial Advisor Michael Carmichael

Source: GlobeNewswire (MIL-OSI)

SAN DIEGO, March 03, 2025 (GLOBE NEWSWIRE) — LPL Financial LLC (Nasdaq:LPLA) announced today that financial advisor Michael Carmichael, RFC®, CRPS®, founder of Carmichael Financial, has joined LPL Financial’s broker-dealer, Registered Investment Advisor (RIA) and custodial platforms. He reported serving approximately $190 million in advisory, brokerage and retirement plan assets* and joins LPL from Osaic.

With more than 20 years in financial services, Carmichael is passionate about helping his clients work toward building more secure financial futures. He works with five support staff members to provide a wide range of comprehensive wealth management services, including investments, risk management, tax strategies, retirement income planning and estate planning. They operate from registered offices in Tucson, Ariz., Englishtown, N.J., and Logan, Utah.

Prior to becoming an advisor, Carmichael spent eight years in the U.S. Marine Corps, serving in the Gulf War. He holds fast to the Corps values of honor, courage and commitment, often applying those same principles within his practice.

Carmichael’s aspirations to grow his business and elevate client experiences led him to LPL Financial.

“I’m always looking out for the best interest of my clients, and I believe they are in a better position at LPL, a publicly traded Fortune 500 company that regularly makes significant investments into technology, resources and service,” Carmichael said. “LPL is in growth mode and so is my business. As I look to expand my firm, I appreciate knowing I have the support and M&A experience of LPL behind me. In fact, LPL has already connected me with other advisors looking to retire soon. I am confident that these connections, paired with LPL’s other growth solutions and strategies, will help propel our business forward.”

Scott Posner, LPL Executive Vice President, Business Development, said, “I’d like to extend a warm welcome to Mike and his team. At LPL, we understand that advisors are looking for sophisticated capabilities and the autonomy to build and grow their ideal practice according to their vision. That’s why we invested more than $500 million last year in innovative technology and strategic resources to help their businesses thrive, both operationally and strategically. We look forward to a long-lasting relationship with Carmichael Financial.”

Related

Advisors, learn how LPL Financial can help take your business to the next level.

About LPL Financial

LPL Financial Holdings Inc. (Nasdaq: LPLA) is among the fastest growing wealth management firms in the U.S. As a leader in the financial advisor-mediated marketplace, LPL supports nearly 29,000 financial advisors and the wealth management practices of approximately 1,200 financial institutions, servicing and custodying approximately $1.7 trillion in brokerage and advisory assets on behalf of approximately 6 million Americans. The firm provides a wide range of advisor affiliation models, investment solutions, fintech tools and practice management services, ensuring that advisors and institutions have the flexibility to choose the business model, services, and technology resources they need to run thriving businesses. For further information about LPL, please visit www.lpl.com.

Securities and advisory services offered through LPL Financial LLC (“LPL Financial”), a registered investment advisor and broker-dealer, member FINRA/SIPC. Carmichael Financial and LPL are separate entities.

Throughout this communication, the terms “financial advisors” and “advisors” are used to refer to registered representatives and/or investment advisor representatives affiliated with LPL Financial.

We routinely disclose information that may be important to shareholders in the “Investor Relations” or “Press Releases” section of our website.

*Value approximated based on asset and holding details provided to LPL from end of year, 2024.

Media Contact:
Media.relations@LPLFinancial.com
(704) 996-1840

Tracking #700678

The MIL Network –

March 4, 2025
MIL-OSI: XMS Capital Partners Expands Healthcare Investment Banking Expertise with Addition of Veteran Banker Rick Kimball

Source: GlobeNewswire (MIL-OSI)

CHICAGO, March 03, 2025 (GLOBE NEWSWIRE) — XMS Capital Partners LLC (“XMS”), a global, independent financial services firm focused on M&A, corporate advisory, and asset management services, is pleased to announce the addition of Richard (Rick) Kimball as a Managing Director. His appointment underscores XMS’s commitment to expanding its healthcare investment banking capabilities and delivering exceptional advisory services to clients.

“We are thrilled that Rick has decided to return to investment banking at XMS,” said Ted Brombach, Co-Managing Partner at XMS. “His extensive track record at Goldman Sachs and Morgan Stanley, coupled with his leadership experience as an operating executive, will be instrumental in extending our reach in the healthcare sector. Rick’s strategic insights will enhance the value we bring to clients globally, and we look forward to the impact he will have as we continue to grow.”

“I’m excited to be joining the exceptional team of investment bankers at XMS,” said Rick Kimball. “I have known many of the XMS partners for over 25 years, and we share a client-first approach that has been a cornerstone of success throughout my career. I look forward to contributing my experience in healthcare and capital markets to help drive XMS’s continued success.”

About Rick Kimball

Rick Kimball brings over 35 years of experience in investment banking, venture capital, and capital markets. He was a partner at Goldman Sachs, where he served as Co-Head of Global Healthcare Investment Banking and Co-Head of the Healthcare, Consumer, and Retail Financing Group. Before that, he spent 17 years at Morgan Stanley, leading Healthcare Equity Capital Markets and Healthcare Services Investment Banking. He also co-founded Millennium Technology Partners, a venture capital firm focused on early-stage Internet infrastructure investments.

Beyond investment banking, Rick held leadership roles in healthcare technology. He was the Chief Strategy and Growth Officer at Accretive Health (now R1), overseeing strategy, sales and marketing, and product management. He later served as President of Rymedi, a blockchain-based healthcare technology company. Most recently, he has been a CEO coach, advising executives on strategy, execution, and accountability.

Rick has also served as a trustee of the Brookings Institution in Washington, D.C., and the Ralph Lauren Center for Cancer Care and Prevention in Harlem.

About XMS Capital Partners

Founded in 2006, XMS Capital Partners LLC is a global, independent financial services firm providing M&A, corporate advisory, and asset management services. The firm has offices in Chicago, London, Boston, and Dallas.

For more information, please visit www.xmscapital.com.

Media Contact

Samantha Bailey
XMS Capital Partners
Phone: 312.262.5642
www.xmscapital.com

The MIL Network –

March 4, 2025

MIL-OSI: Westhaven Announces Updated Preliminary Economic Assessment for the Shovelnose Gold Project, British Columbia

Source: GlobeNewswire (MIL-OSI)

After-Tax NPV Doubled to $454 Million

After-Tax IRR of 43.2%

Payback of Initial Capital Costs of 2.1 Years

All amounts are in Canadian Dollars unless otherwise noted

VANCOUVER, British Columbia, March 03, 2025 (GLOBE NEWSWIRE) — Westhaven Gold Corp. (TSX-V:WHN) is pleased to report the completion of an Updated Preliminary Economic Assessment (“PEA”) at its 100% owned 41,634-hectare Shovelnose Gold Property (the “Property”) located within the prospective Spences Bridge Gold Belt (“SBGB”), which borders the Coquihalla Highway 30 kilometres south of Merritt, British Columbia. The PEA outlines a robust, low-cost, rapid pay-back, high margin, 11.1 year underground gold mining opportunity and is based on updated mineral resources that include contributions from the South, Franz and FMN zones.

At a gold price of US$2,400/oz and an exchange rate of C$1.00 to US$0.72, the Shovelnose base case estimate (the “Base Case”) generates an after-tax net present value (NPV) at a 6% discount rate of $454 million and an internal rate of return (IRR) of 43.2%. The proposed mine will operate over an initial 11.1 year mine-life with average annual life-of-mine gold production of 56,000 ounces. Initial capital expenditure to fund construction and commissioning is estimated at $184 million, with a life-of-mine capital cost of $379 million and a payback period of 2.1 years. The all-in sustaining costs (as defined per World Gold Council guidelines, less corporate G&A) are estimated to be US$836 per ounce of gold produced.

Summary Table – Economic Sensitivity to Long Term Gold Price

Long Term Metal Price Variability	Corresponding Gold Price	After Tax NPV (at 6%)	After Tax IRR
*(percentage change)*	*US$/ounce*	*CDN $ millions*	*(%)*
– 20%	1,920	284.3	30.4
– 10%	2,160	369.1	36.9
base case	2,400	453.7	43.2
+ 10%	2,640	538.3	49.5
+ 20%	2,880	622.8	55.7

Gareth Thomas, President & CEO, comments: “Westhaven’s flagship Shovelnose Gold Property is ideally situated, in close proximity to roads, power and infrastructure in a tier 1 mining jurisdiction. Production contribution from both Franz and FMN provide valuable ounces that bring gold production forward in the schedule resulting in payback of initial capital costs in just 2.1 years. Our intention is to continue to advance this cornerstone project in parallel with our ongoing exploration efforts to further expand the gold-silver mineral inventory on this highly prospective land package. The next steps towards rapidly advancing development include further de-risking initiatives such as continued environmental baseline studies, permitting requirements, along with other cost and technical requirements.”

The Company cautions that the results of the PEA are preliminary in nature and include Inferred Mineral Resources that are considered too speculative geologically to have economic consideration applied to them to be classified as Mineral Reserves. There is no certainty that the results of the PEA will be realized. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.

Preliminary Economic Assessment Highlights:

*Base case parameters of US$2,400 per ounce gold, US$28 per ounce silver and CDN$/US$ exchange rate of $0.72.
*All costs are in Canadian dollars unless otherwise specified.

Robust financial metrics.
- Pre-tax Internal Rate of Return (“IRR”) of 56.3%; After-tax IRR of 43.2%.
- Low All-In Sustaining Cost (“AISC”) of $1,161/ounce (“oz”) (US$836/oz) gold equivalent (“AuEq”).
- Low Cash Cost of $872 oz/AuEq (US$ 628/oz AuEq).
- Pre-tax Net Present Value (“NPV”6%) of $730 million (M) and After-tax NPV of $454M.
- Payback period from start of production year at 1.7 years pre-tax and 2.1 years after-tax.
- After-tax (NPV 6%) increases to $634M and After-tax IRR increases to 56.6% using spot prices of US$2,900 gold and US$30 silver.
Low capital-intensive development and operating costs.
- Total Preproduction Capital of $184M.
- Total Life of Mine (“LOM”) Capital Costs of $379M.
- Average operating cost of $142/ tonne processed.
- 92% of total stope mining is cost effective longitudinal and traverse longhole stoping, with only 8% of total mining requiring cut and fill stoping.
11.1-year mine life and ability to expand processing to accommodate satellite discoveries.
- 718,600 total Indicated ounces gold equivalent (“AuEq”) underground Mineral Resource Estimate.

292,000 total Inferred ounces AuEq underground Mineral Resource Estimate.

Production rate of 1,000 tonnes per day (“tpd”).
Total payable metals of 637,000 oz gold (“Au”) and 3,562,000 oz silver (“Ag”).
Average annual production of 56,000 oz Au peaking in year 7 at 68,000 oz Au.

Total mineralized rock production of 4,159,000 tonnes at 5.26 g/t Au and 32 g/t Ag.

Metallurgical recoveries of 91.5% Au and 92.9% Ag.

Community/stakeholder benefits.
- Total projected income taxes paid of $284M.
- Total projected British Columbia mineral taxes paid of $163M.
- More than 130 well-paying local full time jobs created during life of mine.
- Additional employment during construction phase.
- Indirect spin-off benefits during both construction and mine operations.

Mineral Resources, Updated PEA Preparation and Results

The previous public Mineral Resource Estimate (“MRE”) for the South Zone was carried out by P&E Mining Consultants Inc. (“P&E”) with an effective date July 18, 2023. The current underground MRE is reported herein. All drilling and assay data were provided by Westhaven, in the form of Excel data files. The GEOVIA GEMS™ V6.8.4 database compiled by P&E for the February 28, 2025 MRE consisted of 355 surface drill holes, totalling 121,971 metres. A total of 145 drill holes (50,714 metres) were intersected by the Mineral Resource wireframes used in this PEA.

P&E validated the Mineral Resource database in GEMS™ by checking for inconsistencies in analytical units, duplicate entries, interval, length or distance values less than or equal to zero, blank or zero-value assay results, out-of-sequence intervals, intervals or distances greater than the reported drill hole length, inappropriate collar locations, survey and missing interval and coordinate fields. Some minor errors were identified and corrected in the database. The QPs are of the opinion that the supplied database is suitable for Mineral Resource estimation.

Block models were constructed using GEOVIA GEMS™ V6.8.4 modelling software and consist of separate model attributes for estimated Au, Ag and AuEq grade, rock type (mineralization domains), volume percent, bulk density, and classification. The Mineral Resource was classified as Indicated and Inferred based on the geological interpretation, variogram performance and drill hole spacing. The QPs also consider mineralization at the South, Franz and FMN Zones to be potentially amenable to underground mining methods. The revised MRE used for this Updated PEA is reported with an effective date of February 28, 2025 and is tabulated in Table 1.

Table 1
Shovelnose Underground Mineral Resource Estimate @ 1.3 g/t AuEq Cut-off ^(1-⁷⁾
Classification	Zone	Tonnes (k)	Au (g/t)	Contained Au (k oz)	Ag (g/t)	Contained Ag (k oz)	AuEq (g/t)	Contained AuEq
Classification	Zone	Tonnes (k)	Au (g/t)	Contained Au (k oz)	Ag (g/t)	Contained Ag (k oz)	AuEq (g/t)	(k oz)
Indicated	South	3,107	6.18	616.8	33.1	3,302.8	6.56	655.2
	Franz	89	7.44	21.2	30.9	88.0	7.80	22.2
	FMN	241	5.07	39.2	22.5	173.7	5.33	41.2
	Total	3,437	6.13	677.2	32.3	3,564.5	6.50	718.6
Inferred	South	1,386	3.79	168.6	16.5	736.8	3.98	177.2
	Franz	63	3.48	7.1	51.9	105.4	4.09	8.3
	FMN	843	3.49	94.6	37.5	1,017.3	3.93	106.5
	Total	2,292	3.67	270.3	25.2	1,859.5	3.96	292.0

1.		Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
2.		The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.
3.		The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could potentially be upgraded to an Indicated Mineral Resource with continued exploration.
4.		The Mineral Resources were estimated in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions (2014) and Best Practices Guidelines (2019) prepared by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council.
5.		PEA is preliminary in nature and includes Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be classified as Mineral Reserves, and there is no certainty that the PEA will be realized.
6.		The AuEq cut-off of 1.3 g/t was derived from costs of C$82/t mining, C$42/t processing and $18/t G&A. A USD:CDN exchange rate of 0.72 along with US$2,400/oz Au and US$28/oz Ag with respective process recoveries of 91.5% and 92.9%.
7.		The Au/Ag ratio used was 86:1.

A financial model was developed to estimate the Life of Mine (“LOM”) plan and considered only underground mining of Mineral Resources at the South, Franz and FMN Zones. Other known gold-silver mineralization at the Shovelnose Gold Property, currently being evaluated by Westhaven, are not included.

The LOM plan covers a 13.1-year period (2 years pre-production and 11.1 years of production). Currency is in Q1 2025 Canadian dollars unless otherwise stated. Inflation has not been considered in the financial analysis.

The Updated PEA outlines a production mine life of 11.1 years with average annual production of 56,000 ounces gold and 312,000 ounces silver at average respective cash costs and all-in sustaining costs (“AISC”) per ounce gold equivalent of $1,161(US$836). The PEA considers the payable recovery of 637,000 oz gold and 3,562,000 oz silver from an underground operation, at average respective mine production grades of 5.26 g/t and 32 g/t.

Revenue

The commercially saleable product generated by the Project is a gold/silver doré. Westhaven would be paid once the doré has been delivered to a smelter and refinery, off-site.

The NSR payables were based on the following parameters:
Dore Payable (Includes refining and smelting)
Au 99%
Ag 90%

The CDN$/US$ exchange rate used in the PEA is 0.72.

Subtotal Revenue
Au (US$) $1,529M
Ag (US$) $100M
Net revenue
CDN$ $2,201M

The revenue generation by the Shovelnose Project, on a yearly basis, is presented in Table 2.

Table 2 Summary of Base Case Total Revenue Generation
Item / Year	Yr -1	Yr 1	Yr 2	Yr 3	Yr 4	Yr 5	Yr 6	Yr 7	Yr 8	Yr 9	Yr 10	Yr 11	Yr 12	Total
Tonnes (k)	133.7	330.4	367.5	365.3	365.3	365.3	365.3	365.3	365.3	365.3	365.3	365.3	40.0	4,158.8
Grade (g/t) – Au	3.98	5.43	4.94	5.52	5.16	5.55	5.59	6.35	5.24	5.05	5.42	4.26	3.93	5.26
– Ag	27	26	73	32	25	29	36	32	23	25	29	23	25	32
Au koz Payable	15.5	52.2	52.8	58.7	54.8	59.0	59.4	67.6	55.8	53.8	57.6	45.3	4.6	637.2
Ag koz Payable	98.1	232.9	722.4	310.0	242.0	282.3	352.4	316.4	222.8	244.8	287.4	223.6	26.6	3,561.8
Subtotal Rev.-Au (US$)M	37.2	125.4	126.8	140.8	131.6	141.7	142.6	162.2	133.9	129.0	138.3	108.8	11.0	1,529.3
-Ag (US$)M	2.7	6.5	20.2	8.7	6.8	7.9	9.9	8.9	6.2	6.9	8.0	6.3	0.7	99.7
Subtotal Rev. (Cdn$) M	55.4	183.2	204.3	207.6	192.2	207.8	211.8	237.6	194.6	188.8	203.2	159.8	16.3	2,262.5
Net Royalty (Cdn$) M	5.9	4.6	5.1	5.2	4.8	5.2	5.3	5.9	4.9	4.7	5.1	4.0	0.4	61.1
Net Revenue (Cdn$) M	49.5	178.6	199.1	202.4	187.4	202.6	206.5	231.7	189.7	184.0	198.2	155.8	15.9	2,201.4

Note Yr = Year

The QPs have estimated the net revenues assuming Westhaven has taken advantage of available royalty buy-outs. There is a 2% Net Smelter Return (“NSR”) royalty on the Shovelnose Gold Property held by Franco-Nevada Corp. which Westhaven has the option to buy down to a 1.5% NSR for US$3M. There is a 2% NSR held by Osisko Gold Royalties Ltd. which Westhaven has the option to buy down to a 1% NSR for $500,000.

Costs

Operating costs:
Total average cost		$142/t processed
Cash Cost / AuEq oz (Cdn$/oz AuEq)		$872/oz AuEq (US$628/oz)
All-in sustaining cost (“AISC”)(Cdn$/oz AuEq)		$1,161/oz AuEq (US$836/oz)

Capital costs:
LOM		$379M
Sustaining CAPEX		$195M

LOM capital costs include the cost of all mine development; process plant, mine equipment; surface infrastructure; underground infrastructure; a closure cost; a salvage credit; and a 20% contingency.

Stoping methods utilized are transverse longhole, longitudinal longhole and cut & fill. The average vein widths to be mined are 16.2m, 6.6m and 3.0m respectively.

Mining unit costs by method are $143.81/t for transverse, $144.94 for longitudinal long hole, and $142.82/t for cut & fill stoping.

The proportion of mining method during the life of mine is 65% longitudinal longhole, 27% for transverse longhole mining and 8% cut and fill.

Table 3 Base Case Cash Flow Summary
ITEM	DESCRIPTION / YEAR		UNITS		YR – 2		YR – 1	YR 1		YR 2		YR 3	YR 4	YR 5	YR 6	YR 7			YR 8		YR 9		YR 10	YR 11	YR 12		TTL
Production			kt				134	330		368		365	365	365	365	365			365		365		365	365	40		4,159
			Au (g/t)				3.9	5.4		4.9		5.5	5.2	5.6	5.6	6.4			5.2		5.1		5.4	4.3	3.9		5.3
			Ag (g/t)				27	26		73		32	25	29	36	32			23		25		29	23	25		32

Revenue			M$			50		179		199		202	187	203	206		232	190				184	198	156	16	2,201

Opex	Expensed Stope Development (Contractor)		M$			11		6		11		13	9	2	6		2	9				3	9	5	1	88
	Longitudinal LH Stoping		M$			1		3		3		2	3	3	2		2	2				3	3	4	0.4	30
	Transverse LH Stoping		M$							1		2	1	1	2		2	2				1				12
	Cut and Fill Stoping		M$			1		2		0.2		1	0.1	1				1					1	1	0.1	7
	Mine G&A		M$			3		5		5		5	5	5	5		5	5				5	5	5	1	62
	Paste Backfill		M$			1		1		2		3	3	3	3		3	3				3	3	3	1	34
	Process Plant		M$			6		14		15		15	15	15	15		15	15				15	15	15	2	173
	Transport and Place Tailings		M$			1		12		2		1	1	1	1		1	1				1	1	1	0.1	12
	U/G Ore Haulage		M$			1		4		6		8	8	8	8		9	8				7	8	8	1	84
	Surface Ore Haulage		M$			1		1		1																3
	Backhaul Paste Backfilll to FMN		M$			0.1		0.4		0.2																1
	Stopckpile Rehandling		M$			1		1		1		1	1	1	1		1	1				1	1	1	0.1	14
	G&A		M$					6		6		6	6	6	6		6	6				6	6	6	1	71
	Total Opex with Contingency		M$			25		45		55		58	53	47	50		47	4				47	53	50	6	589

Capex	Mine Development (Contractor) Waste		M$			19		21		38		16	9		6		1	6				1	8	3		126
	Process Plant		M$		50	25				4			4		4			4					3			94
	Owner’s Cost		M$		3	5																				8
	Mining Equipment		M$			11		7		7			2	2	12		1	5				2	3	4		54
	U/G Infrastructure		M$			1		2		1		1		1	1		1	1				1	1	1		13
	Surface Infrastructure		M$			48		5		2				2	5			2					5	2		72
	EPCM		M$		9	10																				19
	Closure & Salvage		M$			5		0.5		0.5		0.5	0.5	0.5	0.5		0.5	0.5				0.5	0.5	0.5	-16	-6
	Total Capex with Contingency		M$		62	122		35		52		18	15	4	28		4	18				4	21	10	-16	379

Taxes	Income Tax		M$					11		25		24	23	30	31		38	27				28	30	21	-4	284
	Mineral Tax		M$			0		3		3		12	16	20	17		24	16				18	17	13	3	163
	Total Taxes		M$			0		14		28		37	39	50	48		62	43				46	47	34	0	447

After-Tax Cash Flow		M$		-62		-97			85		63	90	80	102	80		118			75		87	77	62	26	785
After-Tax Cumulative Cash Flow		M$		-62		-160			-75		-11	78	158	260	340		458			533		620	697	759	785

After-tax IRR			%				43.2
After-tax NPV @ 6%			M$				454

Cash Flow Sensitivity Analysis

The following after-tax cash flow analysis was completed:

Net Present Value (“NPV”) (at 5%, 6%, 7%, 8%, 9% and 10% discount rates).
Internal Rate of Return (“IRR”).
Payback period.

The summary of the results of the cash flow sensitivity analysis is presented in Table 4

Table 4 Base Case Cash Flow Sensitivity Analysis
Description	Discount Rate	Units	Value
Undiscounted After-Tax CF	0%	(M$)	785
Internal Rate of Return		%	43.2
After-Tax NPV at	5%	(M$)	496
	Base Case 6%	(M$)	454
	7%	(M$)	415
	8%	(M$)	380
	9%	(M$)	348
	10%	(M$)	319
After-Tax Total Project Payback (including pre-production)		Years	4.1

The Project was evaluated on an after-tax cash flow basis which generates a net undiscounted cash flow estimated at $785M. This results in an after-tax IRR of 43.2% and an after-tax NPV of $454 M when using a 6% discount rate. In the base case scenario, the Project has a payback period of 4.1 years from the start of the Project. The average life-of-mine cash cost is $872/oz AuEq (US$628/oz AuEq), at an average operating cost of $142/t processed. The average life-of-mine all-in sustaining cost (“AISC”) is estimated at $1,161/oz AuEq (US$836/oz AuEq).

Sensitivity Analysis

Project risks can be identified in both economic and non-economic terms. Key economic risks were examined by running cash flow sensitivities to: gold metal price; silver metal price; gold process plant head grade; gold metallurgical recovery; operating costs; and capital costs.

Each of the sensitivity items were varied up and down by 10% and 20% to assess the effect they would have on the NPV at a 6% discount rate. The value of each parameter, at 80%, 90%, 100% base case, 110% and 120%, is presented in Table 5.

Table 5
NPV Sensitivity Parameter Values
Parameter	80%	90%	100%	110%	120%
Au Metal Price US$/oz	1,920	2,160	2,400	2,640	2,880
Ag Metal Price US$/oz	22.40	25.20	28.00	30.80	33.60
Au Head Grade g/t	4.21	4.73	5.26	5.79	6.31
Au Met Recovery %	N/A	82.4%	91.5%	N/A	N/A
Capex $M	304	342	379	417	455
Opex $M	471	530	589	648	707

The resultant after-tax NPV @ 6% values of each of the sensitivity parameters at 80% to 120% are presented in Table 6.

Table 6
After-Tax NPV Sensitivity to Base Case at 6% Discount Rate (M$)
Parameter	80%	90%	100%	110%	120%
Au Metal Price	284	369	454	538	623
Ag Metal Price	442	448	454	459	465
Au Head Grade	284	369	454	538	623
Au Met Recovery	N/A	369	454	N/A	N/A
Capex	515	484	454	423	392
Opex	502	478	454	429	405

Cautionary Statement

The Updated PEA is considered by P&E Mining Consultants Inc. (“P&E”) to meet the requirements as defined in Canadian National Instrument (“NI”) 43-101 Standards of Disclosure for Mineral Projects. This PEA is preliminary in nature and includes Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be classified as Mineral Reserves, and there is no certainty that the PEA will be realized. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no guarantee that Westhaven Gold Corp. will be successful in obtaining any or all of the requisite consents, permits or approvals, regulatory or otherwise for the Project to be placed into production. The PEA was prepared in accordance with the requirements of NI 43-101 and has an effective date of February 28, 2025. A technical report relating to the PEA, prepared in accordance with NI 43-101, will be filed on SEDAR and posted on the company’s website within 45 days of this news release.

On behalf of the Board of Directors
WESTHAVEN GOLD CORP.

“Gareth Thomas”

Gareth Thomas, President, CEO & Director

Qualified Person Statement

The Preliminary Economic Assessment for the Shovelnose Gold Property – South Zone was prepared by James L. Pearson, P.Eng., D. Grant Feasby, P.Eng., Yungang Wu, P.Geo., Antoine Yassa, P.Geo., Brian Ray, P.Geo. and Eugene Puritch, P.Eng., FEC, CET of P&E Mining Consultants Inc., Brampton, Ontario, all Independent Qualified Persons as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects. The PEA results are based on important assumptions made by the Qualified Persons who prepared the PEA. These assumptions, and the justifications for them, will be described in the PEA Technical Report that the Company will file on SEDAR and post on the Company’s website within 45 days of this news release. Mr. Puritch has reviewed and approved the technical contents of this news release.

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

About Westhaven Gold Corp.

Westhaven is a gold-focused exploration company advancing the high-grade discovery on the Shovelnose project in Canada’s newest gold district, the Spences Bridge Gold Belt. Westhaven controls ~61,512 hectares (~615 square kilometres) with four gold properties spread along this underexplored belt. The Shovelnose property is situated off a major highway, near power, rail, large producing mines, and within commuting distance from the city of Merritt, which translates into low-cost exploration. Westhaven trades on the TSX Venture Exchange under the ticker symbol WHN. For further information, please call 604-681-5558 or visit Westhaven’s website at www.westhavengold.com

Forward-Looking Statements

The TSX Venture Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release.

Certain information contained herein constitutes “forward-looking information” under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the results of the Preliminary Economic Assessment, the Mineral Resource Estimate future planned activities, future mineral production and future growth potential for the Company and its projects. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “will” or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made, and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Assumptions have been made regarding, among other things, the price of gold and other precious metals; costs of exploration and development; the estimated costs of development of exploration projects; the Company’s ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms. Although management of Westhaven Gold Corp. have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward‐looking statements or forward-looking information. Such factors include, without limitation: the Company’s dependence on one group of mineral projects; precious metals price volatility; regulatory, consent or permitting delays; risks relating to reliance on the Company’s management team and outside contractors; risks regarding mineral resources and reserves; the Company’s inability to obtain insurance to cover all risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding the failure to generate sufficient cash flow from operations; risks relating to project financing and equity issuances; risks and unknowns inherent in all mining projects, including the inaccuracy of reserves and resources, metallurgical recoveries and capital and operating costs of such projects; laws and regulations governing the environment, health and safety; operating or technical difficulties in connection with mining or development activities; employee relations, labour unrest or unavailability; the Company’s interactions with surrounding communities; the speculative nature of exploration and development, including the risks of diminishing quantities or grades of reserves; stock market volatility; conflicts of interest among certain directors and officers; and the factors identified under the caption “Risk Factors” in the Company’s management discussion and analysis. There can be no assurance that such forward-looking statements or information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.

Westhaven’s Properties across the Spences Bridge Gold Belt

2025 PEA Proposed Development Zones

Shovelnose Proposed Mine Site Development & Infrastructure Layout

Maps accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/ed38b683-123a-44cf-86f5-1c63049a9351

https://www.globenewswire.com/NewsRoom/AttachmentNg/b5ea66ea-6e4d-49c3-b1ae-78624a357568

https://www.globenewswire.com/NewsRoom/AttachmentNg/2652ea09-9d55-45a5-b6e2-346b3e1ddea5

The MIL Network –

March 4, 2025

MIL-OSI: No. 6/2025 – Managers’ transactions

Source: GlobeNewswire (MIL-OSI)

Nasdaq Copenhagen
Nikolaj Plads 6
DK-1067 Copenhagen K

Copenhagen, 3 March 2025
ANNOUNCEMENT no.6/2025

Managers’ transactions

Pursuant to Article 19 of the market abuse regulation Cemat A/S hereby announces the following information received 28 February 2025.

Details of the person discharging managerial responsibilities/person closely associated
Name:	Joanna Lucyna Iwanowska-Nielsen
Reason for the notification:
Position/status:	Member of the board of directors in Cemat A/S
Initial notification/Amendment:	Initial
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
Name:	Cemat A/S
LEI:	213800899MWAZT9KQZ78
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
Description of the financial instrument, type of instrument:	Shares
Identification code:	ISIN DK0010271584
Nature of the transaction:	Purchase of shares
Price(s):	DKK 1.00
Volume (s):	12,365
Aggregated information:
Aggregated volume	12,365
	DKK 12,365, equivalent to DKK 1.00 per share
Date of the transaction:	28 February 2025
Place of the transaction:	Nasdaq Copenhagen, XCSE

Cemat A/S

Jaroslaw Pawel Lipinski
CEO

This announcement has been prepared in a Danish-language and an English-language

version. In case of doubt, the Danish version prevails.

Attachment

Announcement no. 6 – 03.03.2025

The MIL Network –

March 4, 2025

MIL-OSI Global: We need to switch to heat pumps fast – but can they overcome this problem?

Source: The Conversation – UK – By Jack Marley, Environment + Energy Editor, UK edition

StockMediaSeller/Shutterstock

People in the UK need to adopt heat pumps and electric vehicles as fast as they once embraced refrigerators, mobile phones and internet connection according to a new report by the Climate Change Committee (CCC).

This government watchdog says the next 15 years will be critical for decarbonising the UK, one of the world’s largest (and earliest) carbon polluters. Eighty-seven percent of its climate-heating emissions must be eliminated by 2040 to keep the country on track for net zero emissions by mid-century, per the report. The majority (60%) of these cuts are expected to come via a single source: electricity.

This roundup of The Conversation’s climate coverage comes from our award-winning weekly climate action newsletter. Every Wednesday, The Conversation’s environment editor writes Imagine, a short email that goes a little deeper into just one climate issue. Join the 40,000+ readers who’ve subscribed.

Out of possible alternatives to a fossil fuelled economy, electrification has emerged as the favoured solution of experts at the CCC.

Ran Boydell, an associate professor in sustainable development at Heriot-Watt University, agrees. “Home boilers will very soon move into the realm of nostalgia,” he says.

Read more:
UK ban on boilers in new homes rules out hydrogen as a heating source

The reason why heat pumps are increasingly touted as the future of home heating – and not retooled boilers that burn hydrogen instead of methane – is efficiency.

Boydell points out that green hydrogen fuel is made using electricity from solar and wind farms. We could eliminate emissions a lot quicker, he argues, if that electricity went directly to heat pumps instead.

Electricity can be turned into a fuel – or power appliances directly.
Piyaset/Shutterstock

“This is because you end up with only two-thirds of the energy in the hydrogen that you started with from the electricity,” he says.

Likewise, battery-powered vehicles have an advantage that has allowed them to race ahead of hydrogen fuel cells to comprise almost a fifth of all new vehicles sold in the UK in 2024.

“An electric vehicle can be recharged wherever there is access to a plug socket,” say Tom Stacey and Chris Ivory, supply chain experts at Anglia Ruskin University. “The infrastructure that exists to support hydrogen vehicles is limited in comparison and will require extensive investment to introduce.”

Read more:
The days of the hydrogen car are already over

If the route to zero emissions is largely settled, we need to travel it quickly.

Electric dreams

One of the fastest energy transitions in history occurred over a decade in South Korea, according to energy system researchers James Price and Steve Pye (UCL). Between 1977 and 1987, the generation of electricity from oil in the east Asian country collapsed – from roughly 7 million gigawatt-hours to nearly 7,000 – and was replaced with, among other sources, nuclear power.

There are historic analogues for the rapid shift necessary to arrest climate change. But a zero-carbon power sector, which the UK government aims to achieve by 2030, is just the start.

Read more:
For developing world to quit coal, rich countries must eliminate oil and gas faster – new study

“Wind and solar, which provide more than 28% of the UK’s electricity, will soon overtake gas as the main generation source as more wind farms come online,” say energy system modeller Andrew Crossland and engineer Jon Gluyas, both of Durham University.

“But successive governments have failed to achieve the same result in homes and communities where so much high-carbon gas is burned, despite their decarbonisation being critical to net zero.”

Read more:
Is Britain on track for a zero-carbon power sector in six years?

Crossland and Gluyas note that solar panels, batteries and heat pumps can be installed “in days” to rapidly cut emissions, and that doing so would create “skilled jobs across the country”. As things stand, however, it would also present a severe challenge to the grid.

Mechanical engineer Florimond Gueniat of Birmingham City University predicts that converting UK transport to battery power wholesale would require expanding grid capacity by 46% – the equivalent of erecting 5,800 skyscraper-sized wind turbines. And that’s even accounting for the greater efficiency of electric vehicles, which waste less of the energy we put into them compared with oil-powered cars.

Read more:
Switching to electric vehicles will push the power grid to the brink

A massive upgrade to the electricity network is needed, and ordinary people have a part to play. Charging cars could serve as batteries that grid operators draw from during a supply pinch. The same goes for the power generated by solar panels on top of houses.

“Such policies in Germany have … already offset 10% of the national demand,” says Gueniat.

Getting to net zero requires the public’s involvement. But some of the CCC’s advice may be difficult to swallow. Not least the implication that people will have to eat 35% less meat and dairy in 2050 compared with 2019.

Read more:
The UK must make big changes to its diets, farming and land use to hit net zero – official climate advisers

So are people ready for a world that runs on electrons alone? Aimee Ambrose, a professor of energy policy at Sheffield Hallam University, thinks heat pumps will struggle to compete with the inviting warmth of wood stoves and coal fires. Over three years she spoke with hundreds of people in the UK, Finland, Sweden and Romania and found strong attachments to high-carbon fuels even among people committed to solving climate change.

The allure of the wood stove is hard to ignore.
Jaromir Chalabala/Shutterstock

Read more:
Heat pumps have a cosiness problem

Human behaviour is the most difficult variable for experts who study climate change to model. There will certainly be drawbacks to abandoning fossil fuelled conveniences at breakneck speed. Yet, there are bound to be benefits too – some of which might only materialise once we get going.

In mid-April 2020, while much of humanity was under some form of lockdown to halt the spread of COVID-19, atmospheric chemist Paul Monks of the University of Leicester was marvelling at the sudden drop in air pollution, which kills millions of people each year and is predominantly caused by burning coal, oil and gas.

“If there is something positive to take from this terrible crisis, it could be that it’s offered a taste of the air we might breathe in a low-carbon future,” he said.

Read more:
Coronavirus: lockdown’s effect on air pollution provides rare glimpse of low-carbon future

– ref. We need to switch to heat pumps fast – but can they overcome this problem? – https://theconversation.com/we-need-to-switch-to-heat-pumps-fast-but-can-they-overcome-this-problem-249658

MIL OSI – Global Reports –

March 4, 2025
MIL-OSI Global: Governments can keep raiding takeaways and nail bars, but businesses will still employ undocumented migrants

Source: The Conversation – UK – By Aida Hajro, Chair in International Business, University of Leeds, and Founding Co-Director of Migration, Business & Society, University of Leeds

hxdbzxy/Shutterstock

The UK is far from the only country to be caught in a heated debate over its migration system and border security. Unfortunately, it is unlikely to get its response right, because the UK debate ignores a fundamental truth: migration trends largely follow economic cycles and labour demand.

It is well-documented that immigration increases during periods of economic growth and declines during downturns. Furthermore, Brexit has aggravated the UK’s labour shortages – a pinch being felt across nearly every work sector.

Nearly 40% of UK businesses have not been able to grow or take advantage of new opportunities because of these labour shortages.

Public discussions, including recent news coverage, tend to focus on border control and enforcement while overlooking the economic realities that shape migration. Past and present UK governments have largely failed to address the fact that migration is driven by the needs of UK businesses – and is often facilitated by informal recruitment systems, due to the lack of efficient legal migration channels.

Our recent research backs up the idea that demand for labour is a major driver of both documented and undocumented (also known as “irregular”) immigration. Despite not being legally allowed to work, undocumented migrants are still sought after because of the shortages.

Read more:
Irregular, not illegal: what the UK government’s language reveals about its new approach to immigration

Efforts to “crack down” on irregular migration often fail because businesses – especially in sectors like agriculture, healthcare, construction and the service industry – continue to rely on these workers. So without addressing labour shortages and recruitment practices, policies to restrict migration won’t work.

But who bears the cost of migration? It’s not the UK government.

Like most countries, the UK requires prospective workers to obtain a work visa while they are still in their country of origin. Getting this paperwork done is costly and complicated. A worker needs to apply, certify translations of the required documents, in some cases undergo a medical examination, cover travel expenses, pay the visa application fee, and show proof that they have enough personal savings to support themselves in the UK.

For example, Nepalese workers pay around £6,000 to emigrate to Europe. This can amount to four years of wages for low-income workers there.

To get to the UK, many rely on licensed recruitment agencies, known as “sponsors”. However, neither these sponsors nor the employers who desperately need workers are legally required to cover the costs of migration. For instance, the UK’s seasonal worker scheme, designed to provide much-needed labour for agriculture, does not require employers to pay for visa fees or recruitment expenses.

This is a major weakness in the system, as it leaves the burden of migration costs on prospective workers – people who are ready to take on low-paid and seasonal jobs that UK citizens often avoid. To pay their way, many of these workers borrow from private money-lenders in their home countries, whose monthly interest rates can be excessive. Unsurprisingly, some turn to people smugglers.

These smugglers often operate a business model that offers shortcuts for entering the UK, frequently making false promises about the length of employment and wages on offer. Studies show that most migrants are aware of the severe risks involved in using these illicit services, yet they still do due to the lack of better alternatives.

The Employer Pays Principle

Crossing the Channel is not the primary source of undocumented migration into the UK. The main issue is people overstaying legally granted visas, as the renewal process is complex and costly.

It is no secret in the business world that migrant workers are exposed to significant costs just to access employment. To address this, the Institute for Human Rights and Business – a UK-based thinktank – introduced the Employer Pays Principle (EPP). This asserts that the costs of migration should be paid not by the workers but by employers. Leading corporations in the UK including Unilever, Morrisons, Waitrose and IHG Hotels & Resorts have adopted EPP.

However, embracing this principle can be much more challenging for small and medium-sized enterprises (SMEs). The more-than-800 premises, including nail salons and takeaways, raided across the UK in January 2025 are unlikely to have the human resources and financial means to cover migration costs for the workers they need. Issuing civil penalty notices and demanding that SMEs pay £60,000 per worker if found liable will not solve the problem of undocumented workers.

In general, punitive policies do not stop migration. They simply make it more precarious for already vulnerable people.

And the government’s social media campaigns in countries like Vietnam and Albania, aimed at discouraging people from illegal travel to the UK, are also unlikely to work. The EU tried similar policies between 2015 and 2019 at a cost of nearly €45 million (£37 million) – and they largely failed.

The UK government has run campaigns aimed at discouraging would-be migrants from Vietnam.

To prevent undocumented migration, firms in need of workers should take responsibility for covering the actual costs of migration. Large firms should be legally required to do so, while for SMEs, the UK government could consider ways to improve access to financing and advisory services. It should also consider incentives and rewards for companies that have voluntarily adopted the EPP or introduced other good practices.

Important next steps

It is possible to estimate the cost of responsibly recruiting a migrant worker from a specific country to the UK. Providing clear and open access to this information would be another important step towards facilitating legal migration routes. After all, universities, consultancies and non-governmental organisations are collecting this data. Cross-sector partnerships could save time and money.

Social media campaigns should prioritise educating potential migrants about UK immigration laws and their rights. This would be more valuable than focusing on the risks of undocumented journeys.

It is also crucial to evaluate whether educational campaigns are more effective than those aimed at deterring migration. The government should remain open to abandoning any overseas social media campaigns that don’t demonstrate cost-effectiveness.

The solution starts with accepting the realities of migration and acknowledging labour market forces. Then, creating the right regulatory environment will reduce the human cost of irregular migration, while supporting UK businesses to find the workers they need.

The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

– ref. Governments can keep raiding takeaways and nail bars, but businesses will still employ undocumented migrants – https://theconversation.com/governments-can-keep-raiding-takeaways-and-nail-bars-but-businesses-will-still-employ-undocumented-migrants-250947

MIL OSI – Global Reports –

March 4, 2025
MIL-OSI Banking: Howard Lee: Keynote address – Asia Pacific Loan Market Association Global Loan Market Summit

Source: Bank for International Settlements

Tibor (Papp, Chair of APLMA), distinguished guests, ladies and gentlemen,

Let me first thank APLMA for inviting me here today. The loan markets were full of challenges in 2024. Geopolitical conflicts, high interest rate environment and uneven economic performances across regions have put pressure on loan demand in the Asia Pacific. Despite the uncertain environment, 2024 will probably be remembered as the starting point of mass adoption of Generative A.I. (GenA.I.) technologies. A few market statistics for putting this into perspective. Globally, fueled by the GenA.I. race, syndicated loans surged 35% to roughly USD 6 trillion, marking the highest volume on record. There was a 70% increase in syndicated loans in the high technology industry¹.

The spike in loan demand last year was mostly observed in the North American market. But we have also seen more GenA.I. innovations in other parts of the world, such as the sudden emergence of the cost-effective DeepSeek last month. To support GenA.I. development, large investments will be required for data centers and communication technology. We are probably still in the first inning of what is to come from GenA.I., and GenA.I. related syndicated loan transactions will likely be a running theme in the loan market for years to come.

Harnessing Gen A.I.: A Smarter, Data-Driven Future

With GenA.I.’s unique capabilities in processing vast amounts of documents and unstructured data, as well as its ability to handle cross-media inputs and outputs, such as text, audio and graphics, the technology has the potential to revolutionise the operation of financial institutions, from customer-facing functions such as remote account onboarding and customer chatbots, to middle and back-office operations for risk management, fraud detection and automation of work processes.

At the HKMA, we are committed to promoting responsible GenA.I. adoption, and ensuring that innovation aligns with ethical standards and regulatory requirements. As a banking regulator, we are tasked not only with safeguarding the integrity and stability of financial systems but also with fostering an environment where innovation can flourish.

Regulatory innovation is more than just introducing new rules; it involves creating an adaptable framework that encourages experimentation while ensuring consumer protection and market integrity. By collaborating with the industry, we aim to better understand the application of emerging technologies in the financial sector. We have adopted an “explorer” mindset, embracing innovative thinking even at an early stage.

We have recently launched our GenA.I. Sandbox in collaboration with the Cyberport². Within that, banks may partner with technology companies to test new ideas that leverage the latest GenA.I. technologies, refine innovative strategies and obtain early supervisory feedback.

A total of 15 use cases from 10 banks and 4 technology partners have been selected as the inaugural participants in the GenA.I. Sandbox. Notable use cases include augmenting credit assessment and fraud detection by automated processing of unstructured data, and enhancing customer service to handle more personalised and complex enquiries. This initiative ensures that we harness the benefits of A.I. while mitigating potential risks, facilitating innovation in a controlled environment.

Sustainability: The New Frontier in Finance

Development of GenA.I. goes hand-in-hand with increase in power demand. In addition to investments in digital infrastructure, we will also see increase in investments for power generation and transmission. With rising temperatures and a rapidly changing global climate, it is imperative such increase in power demand is met in a sustainable manner.

Our Sustainable Finance Action Agenda outlines a vision for integrating sustainability at the core of our financial system. It calls on all banks to strive to achieve Net Zero in their operations by 2030 and in their financed emissions by 2050, reflecting Hong Kong’s commitment to a greener economy.

Green and sustainable finance is closely tied to financial innovation. For instance, tokenisation technology could help solve long-standing challenges such as double counting in carbon credits, a key issue in carbon trading. This could unlock new business models and create opportunities for businesses and investors to engage in sustainable practices. We have also assisted the HKSAR Government in issuing two tokenised green bonds, creating demonstrative effect and promoting broader technology adoption in the capital market.

As announced by the Financial Secretary in his Budget Speech this morning, the Government will regularise the issuance of tokenised bond. So the HKMA is preparing for issuing the third tranche and will also continue to encourage private issuances through the Digital Bond Grant Scheme.

At the same time, the Financial Secretary also announced a bond issuance programme of $150 billion to $195 billion per year in the next five years. The Government debt-to-GDP ratio will remain at manageable levels of 12 to 16.5%. The proceeds will be used to invest in infrastructure but not fund Government recurrent expenditure. So this would bring more opportunities to the debt capital market and provide good quality assets for investors.

On the investment front, the HKMA is prioritising ESG investments across all asset classes under the Exchange Fund, striving toward the Net Zero target by 2050 while contributing to a sustainable economy. Our investment approach integrates both quantitative indicators and the long-term sustainable value of investments.

Infrastructure Financing for a Sustainable and Digital Future

Even with its vast scale, funding raised from the syndicated loan market may not be enough to support the global transition to a digital and sustainable future. More needs to be done to channel market capital into high-quality infrastructure development. In 2019, the Hong Kong Mortgage Corporation (HKMC) entered the infrastructure financing business, aiming to address the funding gap in the infrastructure market through securitisation.

So far, the HKMC has successfully issued two series of infrastructure loan-backed securities in the institutional market, with total value of over US$800 million. The securitisation issues received a strong response from investors, and promoted the development of local debt market.

In alignment with our vision for Hong Kong to play a central role in supporting green and sustainable financing needs in Asia and globally, both securitisation issues include sustainability tranches which are backed by sustainable, green and social assets, and issued in accordance with the HKMC’s Social, Green and Sustainability Financing Framework.

Conclusion

Looking ahead, we envision a future where new technologies will not only enhance connectivity among users, data, and services but also drives economic progress across sectors.

As we continue to evolve as regulators, it is imperative that we remain agile and responsive to the changing landscape. The journey of regulatory innovation and market transformation is one of immense opportunity and responsibility. By working together, we can create a financial ecosystem that is innovative, sustainable, and inclusive.

Thank you for your attention. I look forward to engaging with you in meaningful discussions that will shape our collective future. Once again, I thank APLMA for today’s invitation.

MIL OSI Global Banks –

March 4, 2025

Category: Economy

What are Nigeria’s four biggest economic challenges?

Will the 2025 budget help?

Are there any silver linings?

What needs to happen now?

What were some of the key findings of the report?

What did the survey reveal about who provides for children?

What does the survey tell us about ‘social fathers’?

What happens now?

Coverage changes?

The Post today

Conclusion of UK presidency of the International Holocaust Remembrance Alliance: Lord Pickles’ speech

Updates to this page

The weapons of war

Unbearable price

Ukraine’s people need peace

Gaza ceasefire focus

West Bank alert

DR Congo devastation

Deadliest year in Myanmar

Haiti spiral

Yemen

Toys of tech oligarchs

Electioneering tactics

Toxic influence on gender equality

Young people invited to apply for Mayor’s Bursary

What were some of the key findings of the report?

What did the survey reveal about who provides for children?

What does the survey tell us about ‘social fathers’?

What happens now?

Electric dreams

The Employer Pays Principle

Important next steps

Harnessing Gen A.I.: A Smarter, Data-Driven Future

Sustainability: The New Frontier in Finance

Infrastructure Financing for a Sustainable and Digital Future

Conclusion