NewzIntel.com

Category: Economy

  • MIL-OSI: Rapid7 to Report Third Quarter 2024 Financial Results on November 6

    Source: GlobeNewswire (MIL-OSI)

    BOSTON, Oct. 10, 2024 (GLOBE NEWSWIRE) — Rapid7, Inc. (NASDAQ: RPD), a leader in extended risk and threat detection, today announced that the company will release its third quarter 2024 financial results on Wednesday, November 6, 2024, after the financial markets close.

    The company will host a conference call that same day to discuss its results and business outlook at 4:30 p.m. Eastern Time. The call will be accessible by telephone at +1 888-330-2384 (toll-free) or +1 240-789-2701 with the event code 8484206.

    The conference call will also be available live via webcast on the company’s website at https://investors.rapid7.com. A webcast replay of the call will be available at https://investors.rapid7.com.

    About Rapid7
    Rapid7 (Nasdaq: RPD) is on a mission to create a safer digital world by making cybersecurity simpler and more accessible. We empower security professionals to manage a modern attack surface through our best-in-class technology, leading-edge research, and broad, strategic expertise. Rapid7’s comprehensive security solutions help more than 11,000 global customers unite cloud risk management and threat detection to reduce attack surfaces and eliminate threats with speed and precision. For more information, visit our website, check out our blog, or follow us on LinkedIn or Twitter.

    Rapid7 Investor Contact:
    Elizabeth Chwalk
    Senior Director
    Investor Relations
    investors@rapid7.com
    (617) 865-4277

    Rapid7 Press Contact:
    Kelly Crummey
    Corporate Communications
    press@rapid7.com
    (617) 921-8089

    The MIL Network –

  • MIL-OSI: SuRo Capital Corp. Third Quarter 2024 Preliminary Investment Portfolio Update

    Source: GlobeNewswire (MIL-OSI)

    Continues to Execute on AI Strategy with Significant New Investments

    Net Asset Value Anticipated to be $6.50 to $7.00 Per Share

    NEW YORK, Oct. 10, 2024 (GLOBE NEWSWIRE) — SuRo Capital Corp. (“SuRo Capital”, the “Company”, “we”, “us”, and “our”) (Nasdaq: SSSS) today provided the following preliminary update on its investment portfolio for the third quarter ended September 30, 2024.

    “For over a decade, SuRo Capital has been the public’s gateway to curated venture capital. This access, once reserved only for venture capitalists, has provided exposure to some of the largest, most compelling, and highly sought after private companies in the world before they become publicly traded. Our current portfolio offers exposure to the infrastructure for artificial intelligence, growing consumer brands, and exciting consumer and enterprise software names, among others,” said Mark Klein, Chairman and Chief Executive Officer of SuRo Capital.

    Mr. Klein continued, “This year has been one of the most active investment periods for SuRo Capital in the last decade. During the quarter, we made a $17.5 million investment in OpenAI (via ARK Type One Deep Ventures Fund LLC), one of the largest artificial intelligence developers in the world, and increased our position in CoreWeave, an AI cloud computing provider, via a $5.0 million secondary transaction. Subsequent to quarter-end, we made a $12.0 million investment in VAST Data (via IH10, LLC), an AI infrastructure data platform focused on providing enhanced productivity and simple data management for the AI-powered world, and increased our investment in CoreWeave with an additional $5.0 million secondary,” said Mark Klein, Chairman and Chief Executive Officer of SuRo Capital.

    “With these new investments and our existing investment in CW Opportunity 2 LP we have invested nearly $55.0 million into some of the leading AI infrastructure companies. Given AI’s significant addressable market, we believe dedicating a significant portion of our portfolio to AI infrastructure will prove to be successful for our shareholders,” Mr. Klein continued.

    “Finally, during the quarter, our Board of Directors approved a repurchase program of up to $35.0 million for our 6.00% Notes due 2026 and the issuance of up to $75.0 million of private 6.50% Convertible Notes due 2029, with an initial issuance of up to $25.0 million. We believe the refinancing of a portion of our current debt to a longer-dated convertible instrument with favorable terms strengthens our balance sheet, provides greater flexibility to invest capital beyond 2026, and will ultimately maximize shareholder value in the long term,” concluded Mr. Klein.

    As previously reported, SuRo Capital’s net assets totaled approximately $162.3 million, or $6.94 per share, at June 30, 2024, and approximately $212.0 million, or $8.41 per share, at September 30, 2023. As of September 30, 2024, SuRo Capital’s net asset value is estimated to be between $6.50 to $7.00 per share, based on presently available information.

    Investment Portfolio Update
    As of September 30, 2024, SuRo Capital held positions in 36 portfolio companies – 32 privately held and 4 publicly held, some of which may be subject to certain lock-up provisions.

    During the three months ended September 30, 2024, SuRo Capital made the following investments:

    Portfolio Company Investment Transaction Date Amount(1)
    OpenAI Global, LLC –
    ARK Type One Deep Ventures Fund LLC(2)    		 Convertible Equity via
    Class A Interest    		 9/25/2024 $17.5 million
    CoreWeave, Inc. Common Shares 9/26/2024 $5.0 million

    __________________
    (1)   Amount invested does not include any capitalized costs or prepaid management fees or fund expenses, if applicable.
    (2)   SuRo Capital is invested in the Convertible Equity of OpenAI Global, LLC through its investment in the Class A Interest of ARK Type One Deep Ventures Fund LLC.   ARK Type One Deep Ventures Fund LLC’s sole portfolio asset for Class A Interest holders is the Convertible Equity of OpenAI Global, LLC.

    During the three months ended September 30, 2024, SuRo Capital exited or received proceeds from the following investments:

    Portfolio Company Transaction
    Date    		 Quantity Average Net
    Share Price    (1)    		 Net
    Proceeds    		 Realized
    Gain/(Loss)
    Churchill Sponsor VII LLC 8/18/2024 N/A N/A $- $(0.3 million)
    OneValley, Inc. (f/k/a NestGSV, Inc.)(2) 8/29/2024 N/A N/A $3.0 million $(6.6 million)
    PSQ Holdings, Inc. (d/b/a PublicSquare) – Public Common Shares(3) Various 359,845 $2.82 $1.0 million $0.7 million
    SPBRX, INC. (f/k/a GSV Sustainability Partners, Inc.)(4) 9/30/2024 N/A N/A $0.4 million $(6.8 million)
    YouBet Technology, Inc. (d/b/a FanPower)(5) 8/22/2024 N/A N/A $- $(0.8 million)

    __________________
    (1)   The average net share price is the net share price realized after deducting all commissions and fees on the sale(s), if applicable.
    (2)   On August 29, 2024, SuRo Capital sold its remaining position in OneValley, Inc. (f/k/a NestGSV, Inc.).
    (3)   As of September 30, 2024, SuRo Capital held 1,616,187 remaining PSQ Holdings, Inc. (d/b/a PublicSquare) public common shares.
    (4)   On September 20, 2024, SPBRX, INC. (f/k/a GSV Sustainability Partners, Inc.) dissolved its business and made a final distribution.(5)   Investment made through SuRo Capital Sports, LLC.

    Subsequent to quarter-end through October 10, 2024, SuRo Capital made the following investments:

    Portfolio Company Investment Transaction Date Amount(1)
    CoreWeave, Inc. Series A Preferred 10/8/2024 $5.0 million
    VAST Data, Ltd. – IH10, LLC(2) Series B Preferred via
    Membership Interest    		 10/9/2024 $12.0 million

    __________________
    (1)   Amount invested does not include any capitalized costs or prepaid management fees or fund expenses, if applicable.
    (2)   SuRo Capital is invested in the Series B Preferred Shares of VAST Data, Ltd. through its investment in the Membership Interest of IH10, LLC. IH10, LLC’s sole portfolio asset is interest in the Series B Preferred Shares of VAST Data, Ltd. through a special purpose vehicle.

    SuRo Capital’s liquid assets were approximately $39.5 million as of September 30, 2024, consisting of cash and securities of publicly traded portfolio companies not subject to lock-up restrictions at quarter-end.

    As of September 30, 2024, there were 23,378,002 shares of the Company’s common stock outstanding.

    Convertible Note Purchase Agreement
    On August 6, 2024, SuRo Capital entered into a Note Purchase Agreement (the “Note Purchase Agreement”), by and between the Company and the purchaser identified therein (the “Purchaser”), pursuant to which we may issue up to a maximum of $75.0 million in aggregate principal amount of 6.50% Convertible Notes due 2029 (the “Convertible Notes”). Pursuant to the Note Purchase Agreement, on August 14, 2024 we issued and sold, and the Purchaser purchased, $25.0 million in aggregate principal amount of the Convertible Notes (the “Initial Notes”). Under the Note Purchase Agreement, upon mutual agreement between the Company and the Purchaser, we may issue additional Convertible Notes for sale in subsequent offerings to the Purchaser (the “Additional Notes”), or issue additional notes with modified pricing terms (the “New Notes”), in the aggregate for both the Additional Notes and the New Notes, up to a maximum of $50.0 million in one or more private offerings.

    Interest on the Convertible Notes will be paid quarterly in arrears on March 30, June 30, September 30, and December 30, at a rate of 6.50% per year, beginning September 30, 2024. The Convertible Notes will mature on August 14, 2029, and may be redeemed in whole or in part at any time or from time to time at our option on or after August 6, 2027 upon the fulfillment of certain conditions. The Convertible Notes will be convertible into shares of our common stock at the Purchaser’s sole discretion at an initial conversion rate of 129.0323 shares of our common stock per $1,000 principal amount of the Convertible Notes, subject to adjustments and limitations as provided in the Note Purchase Agreement.   The net proceeds from the offering of the Convertible Notes will be used to repay outstanding indebtedness, make investments in accordance with our investment objective and investment strategy, and for other general corporate purposes. The Note Purchase Agreement includes customary representations, warranties, and covenants by the Company.

    Subsequent to quarter-end, pursuant to the Note Purchase Agreement, on October 9, 2024 we issued and sold, and the Purchaser purchased, $5.0 million in aggregate principal amount of the Additional Notes. The Additional Notes are treated as a single series with the Initial Notes and have the same terms as the Initial Notes. The Additional Notes are fungible and rank equally with the Initial Notes. Upon issuance of the Additional Notes, the outstanding aggregate principal amount of our Convertible Notes became $30.0 million.

    Note Repurchase Program
    On August 6, 2024, SuRo Capital’s Board of Directors approved a discretionary note repurchase program (the “Note Repurchase Program”) which allows the Company to repurchase up to 46.67%, or $35.0 million in aggregate principal amount, of our 6.00% Notes due 2026 (the “6.00% Notes”) through open market purchases, including block purchases, in such manner as will comply with the provisions of the Investment Company Act of 1940, as amended (the “1940 Act”) and the Securities Exchange Act of 1934, as amended (the “Exchange Act”). As of September 30, 2024, we had repurchased 1,010,136 of the 6.00% Notes due 2026 under the Note Repurchase Program.

    Subsequent to quarter-end through October 10, 2024, we repurchased an additional 201,446 of the 6.00% Notes due 2026 under the Note Repurchase Program. The aggregate principal dollar amount of 6.00% Notes that may yet be repurchased by SuRo Capital under the Note Repurchase Program is approximately $4.7 million.

    Share Repurchase Program
    Under the Share Repurchase Program, the Company may repurchase its outstanding common stock in the open market, provided it complies with the prohibitions under its insider trading policies and procedures and the applicable provisions of the 1940 Act and the Exchange Act.

    Since inception of the Share Repurchase Program in August 2017, SuRo Capital has repurchased over 6.0 million shares of its common stock for an aggregate purchase price of approximately $39.3 million. This does not include repurchases under various tender offers during this time period. The dollar value of shares that may yet be purchased by SuRo Capital under the Share Repurchase Program is approximately $20.7 million. The Share Repurchase Program is authorized through October 31, 2024.

    Preliminary Estimates and Guidance
    The preliminary financial estimates provided herein are unaudited and have been prepared by, and are the responsibility of, the management of SuRo Capital. Neither our independent registered public accounting firm, nor any other independent accountants, have audited, reviewed, compiled, or performed any procedures with respect to the preliminary financial data included herein. Actual results may differ materially.

    The Company expects to announce its third quarter ended September 30, 2024 results in November 2024.

    Forward-Looking Statements
    Statements included herein, including statements regarding SuRo Capital’s beliefs, expectations, intentions, or strategies for the future, may constitute “forward-looking statements”. SuRo Capital cautions you that forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those projected or implied in these statements. All forward-looking statements involve a number of risks and uncertainties, including the impact of any market volatility that may be detrimental to our business, our portfolio companies, our industry, and the global economy, that could cause actual results to differ materially from the plans, intentions, and expectations reflected in or suggested by the forward-looking statements. Risk factors, cautionary statements, and other conditions which could cause SuRo Capital’s actual results to differ from management’s current expectations are contained in SuRo Capital’s filings with the Securities and Exchange Commission. SuRo Capital undertakes no obligation to update any forward-looking statement to reflect events or circumstances that may arise after the date of this press release.

    About SuRo Capital Corp.
    SuRo Capital Corp. (Nasdaq: SSSS) is a publicly traded investment fund that seeks to invest in high-growth, venture-backed private companies. The fund seeks to create a portfolio of high-growth emerging private companies via a repeatable and disciplined investment approach, as well as to provide investors with access to such companies through its publicly traded common stock. SuRo Capital is headquartered in New York, NY and has offices in San Francisco, CA. Connect with the company on X, LinkedIn, and at http://www.surocap.com.

    Contact
    SuRo Capital Corp.
    (212) 931-6331
    IR@surocap.com

    The MIL Network –

  • MIL-OSI: Alpine Banks of Colorado announces common shareholder dividend

    Source: GlobeNewswire (MIL-OSI)

    GLENWOOD SPRINGS, Colo., Oct. 10, 2024 (GLOBE NEWSWIRE) — Alpine Banks of Colorado (OTCQX: ALPIB) announced today that a quarterly cash dividend of $0.20 per Class B nonvoting common share will be paid on October 28, 2024, to shareholders of record at the close of business on October 21, 2024. Per the Articles of Incorporation, dividends on the Class B nonvoting common stock shall be declared by the Board of Directors equal to one-one-hundred-fiftieth (1/150th) of the amount per share declared by the Board of Directors for each share of Class A voting common stock. Alpine Banks of Colorado Class B nonvoting common shares are publicly traded on the OTCQX® Best Market under the symbol “ALPIB.”

    Additionally, a quarterly cash dividend of $30.00 per Class A voting common share will be paid on October 28, 2024, to shareholders of record at the close of business on October 21, 2024. Alpine Banks of Colorado Class A voting common shares are not publicly traded.

    The dividend of $30.00 per Class A voting common share and $0.20 per Class B nonvoting common share is unchanged from the dividend paid in the previous quarter.

    About Alpine Banks of Colorado
    Alpine Banks of Colorado, through its wholly owned subsidiary Alpine Bank, is a $6.5 billion, independent, employee-owned organization founded in 1973 with headquarters in Glenwood Springs, Colorado. Alpine Bank employs 890 people and serves 170,000 customers with personal, business, wealth management*, mortgage, and electronic banking services across Colorado’s Western Slope, mountains, and Front Range. Alpine Bank has a five-star rating – meaning it has earned a superior performance classification – from BauerFinancial, an independent organization that analyzes and rates the performance of financial institutions in the United States. Shares of the Class B nonvoting common stock of Alpine Banks of Colorado trade under the symbol “ALPIB” on the OTCQX® Best Market. Learn more at http://www.alpinebank.com.

    *Alpine Bank Wealth Management services are not FDIC insured, may lose value and are not guaranteed by the bank.

    The MIL Network –

  • MIL-OSI: SPS Commerce Announces Date of Third Quarter 2024 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    MINNEAPOLIS, Oct. 10, 2024 (GLOBE NEWSWIRE) — SPS Commerce, Inc. (NASDAQ: SPSC), a leader in retail supply chain cloud services, today announced that it will issue its financial results for the third quarter ended September 30, 2024, after the market close on Thursday, October 24, 2024. SPS Commerce will host a call to discuss the results at 3:30 p.m. Central Time (4:30 p.m. Eastern Time) on the same day.

    To access the call, please dial 1-833-816-1382, or outside the U.S. 1-412-317-0475 at least 15 minutes prior to the 3:30 p.m. CT start time. Please ask to join the SPS Commerce Q3 2024 conference call. A live webcast of the call will also be available at http://investors.spscommerce.com under the Events and Presentations menu. The replay will also be available on our website at http://investors.spscommerce.com.

    About SPS Commerce

    SPS Commerce is the world’s leading retail network, connecting trading partners around the globe to optimize supply chain operations for all retail partners. We support data-driven partnerships with innovative cloud technology, customer-obsessed service and accessible experts so our customers can focus on what they do best. To date, more than 120,000 companies in retail, grocery, distribution, supply, and logistics have chosen SPS as their retail network. SPS has achieved 94 consecutive quarters of revenue growth and is headquartered in Minneapolis. For additional information, contact SPS at 866-245-8100 or visit http://www.spscommerce.com.

    SPS COMMERCE, SPS, SPS logo and INFINITE RETAIL POWER are marks of SPS Commerce, Inc. and registered in the U.S. Patent and Trademark Office, along with other SPS marks. Such marks may also be registered or otherwise protected in other countries. 

    Contact:

    Investor Relations
    The Blueshirt Group
    Irmina Blaszczyk
    Lisa Laukkanen
    SPSC@blueshirtgroup.com
    415-217-4962  

    SPS-F

    The MIL Network –

  • MIL-OSI: SECU Foundation Awards $760,000 in Capacity Building Grants to 19 North Carolina Non-Profits

    Source: GlobeNewswire (MIL-OSI)

    RALEIGH, N.C., Oct. 10, 2024 (GLOBE NEWSWIRE) — The SECU Foundation Board of Directors recently approved $760,000 in Mission Development Grants (MDGs) to benefit 19 North Carolina non-profits, each receiving $40,000. Funding for this cohort focused on technology education, support against domestic violence, housing and homelessness, child advocacy and youth services, healthcare services, and crisis intervention.

    MDG funding began eight years ago and has since become an integral part of the Foundation’s annual grantmaking process. The award-winning program has laid the groundwork for the Foundation to expand its criteria for two additional capacity building programs – Rural Opportunity and Disaster Response grants. These small dollar high-value grants are helping to strengthen the infrastructure and sustainability of non-profits that provide vital services to their communities, particularly in underserved and rural areas.

    “The MDG program has added a layer of depth to our funding strategy that is helping organizations with strategic planning efforts to hopefully achieve more than they thought possible,” said SECU Foundation Executive Director Jama Campbell. “The success of this program speaks to the critical need for this type of funding among non-profits, and we couldn’t be more pleased to be part of their journey and future success.”

    Grantees representing 19 North Carolina counties include:

    Several grantees shared thoughts on how the SECU Foundation funding will help support their organizations and advance their work:

    • Henderson County Free Medical Clinic Director Pauline Carpenter said, “The Mission Development Grant of $40,000 will significantly enhance our organizational capacity. This grant empowers us to expand our reach, strengthen our strategic planning, and bolster our fundraising and marketing efforts, ensuring the sustainability of our vital services to the community.”
    • Home of Refuge Outreach Inc. Executive Director Melissa Galloway said, “We are honored to receive a Mission Development Grant from SECU Foundation. Our mission is to ‘bridge the gap between the community and homelessness,’ and this grant will be instrumental in our expansion efforts, significantly enhancing our ability to implement strategies and achieve our goals. As we continue to pursue meaningful change in our community, this support will help us grow and strengthen our impact in addressing homelessness. We are deeply grateful for this partnership and the confidence it represents in our work.”
    • Janice Faye’s Ranch Founder Joy Canady said, “Through equine-assisted learning activities shared with kids in crisis and their families, horses are helping humans heal. The Mission Development Grant will allow Janice Faye’s Ranch to further its cause in transforming lives and allow expansion for serving kids and their families. Thank you for allowing this much-needed service to help our organization thrive and continue moving forward in Sampson County and the surrounding areas.”
    • Able to Serve Founding Executive Director Carlton McDaniel Jr. said, “Able to Serve is so thankful to SECU Foundation and its commitment to recognizing that people of all abilities need a place to thrive in our community. Their support helps provide growth opportunities for adults with disabilities through community building, service projects, and life skill development. This grant expedites our process of strengthening our development efforts through wisdom, training, and additional resources to grow strategically. These efforts will equip our organization to match the growing demand for more programs for adults with disabilities in our community.”

    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 $56 billion in assets. It serves more than 2.8 million members through 275 branch offices, over 1,100 ATMs, Member Services Support via phone, http://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

    The MIL Network –

  • MIL-OSI: TrustCo to Release Third Quarter 2024 Results on October 21, 2024; Conference Call on October 22, 2024

    Source: GlobeNewswire (MIL-OSI)

    GLENVILLE, N.Y., Oct. 10, 2024 (GLOBE NEWSWIRE) — TrustCo Bank Corp NY (TrustCo, Nasdaq: TRST) today announced that it will release third quarter 2024 results after the market close on October 21, 2024. Results are released on the 21st of the reporting months (January, April, July and October), or on the next day that equity markets are open if the 21st falls on a Friday, weekend or holiday. A conference call to discuss the results will be held at 9:00 a.m. Eastern Time on October 22, 2024. Those wishing to participate in the call may dial toll-free for the United States at 1-833-470-1428, and for Canada at 1-833-950-0062, Access code 034120.   A replay of the call will be available for thirty days by dialing toll-free for the United States at 1-866-813-9403, Access code 285814.

    The call will also be audio webcast at https://events.q4inc.com/attendee/854762065, and will be available for one year. The earnings press release will be posted on the Company’s Investor Relations website at: https://trustcobank.q4ir.com/corporate-overview/corporate-profile/default.aspx. Other information, including the Company’s most recent annual report, proxy statement and filings with the Securities and Exchange Commission can also be found at this website.

    TrustCo Bank Corp NY is a $6.1 billion savings and loan holding company and through its subsidiary, Trustco Bank, operates 138 offices in New York, New Jersey, Vermont, Massachusetts, and Florida. For more information, visit http://www.trustcobank.com.

    In addition, the Bank’s Wealth Management Department offers a full range of investment services, retirement planning and trust and estate administration services.

    The common shares of TrustCo are traded on The NASDAQ Global Select Market under the symbol TRST.

    Forward-Looking Statements

    All statements in this news release that are not historical are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as “anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “will” and similar references to future developments, results or periods. TrustCo wishes to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made, and such forward-looking statements are subject to factors and uncertainties that could cause actual results to differ materially for TrustCo from the views, beliefs and projections expressed in such statements. Examples of these include, but are not limited to: volatility in financial markets and the soundness of other financial institutions; U.S. government shutdowns, credit rating downgrades, or failure to increase the debt ceiling; changes in interest rates; the effects of inflation and inflationary pressures and changes in monetary and fiscal policies and laws, including changes in the Federal funds target rate by, and interest rate policies of, the Federal Reserve Board; ongoing armed conflicts (including the Russia/Ukraine conflict and the conflict in Israel and surrounding areas); the risks and uncertainties under the heading “Risk Factors” in our most recent annual report on Form 10-K and, if any, in our subsequent quarterly reports on Form 10-Q; the other financial, operational and legal risks and uncertainties detailed from time to time in TrustCo’s cautionary statements contained in its filings with the Securities and Exchange Commission; and the effect of all of such items on our operations, liquidity and capital position, and on the financial condition of our borrowers and other customers. The forward-looking statements contained in this news release represent TrustCo management’s judgment as of the date of this news release. TrustCo disclaims, however, any intent or obligation to update forward-looking statements, either as a result of future developments, new information or otherwise, except as may be required by law.

    Subsidiary: Trustco Bank NASDAQ — TRST

    Contact:    Robert Leonard
    Executive Vice President
    (518) 381-3693
         

    The MIL Network –

  • MIL-OSI: One-Stop Trading Platform Trado Deploys on Flow EVM Mainnet

    Source: GlobeNewswire (MIL-OSI)

    Singapore, Oct. 10, 2024 (GLOBE NEWSWIRE) — One-Stop Trading Platform Trado announced today the successful deployment on Flow EVM mainnet. Being the premier exchange on Flow , Trado emphasizes security, efficiency, and user satisfaction. 

    Designed to process transactions rapidly, Trado reduces delays and enhances operational efficiency, creating a pleasant trading experience. By consistently innovating and prioritizing user needs, Trado establishes a new standard for seamless and secure crypto trading within the DeFi ecosystem.

    What is Trado?

    Trado is an on-chain platform dedicated to trading and liquidity management, currently offering both spot and perpetual trading. Trado is engineered to deliver an experience similar to centralized exchanges (CEX) within the decentralized finance (DeFi) ecosystem. With Trado’s robust security protocols, users can trade assets safely and seamlessly, ensuring a straightforward and hassle-free experience.

    About Trado Spot

    Trado Spot is embedded with iZUMi’s original Discretized-Liquidity-AMM model, provides users with a next-generation liquidity management technology to maximize capital efficiency by realizing Limit Order while maintaining 100% on-chain composability and self-custody.

    • Liquidity Farm

    Improve yields with Discretized Liquidity, eliminate rewards for idle liquidity, make liquidity farm in an efficient and lasting way

    • Limit Order

    Fully on-chain Limit Order function driven by DL-AMM, Trade at precise prices and no fee need to be paid

    About Trado Perpetual

    Trado Perpetual offers a powerful and flexible trading environment on the Flow blockchain, enabling users to engage in high-leverage derivatives trading. With dual trading modes — AMM and order book — Trado Perpetual provides options for different trading strategies, Trado Perpetual ensures a seamless trading experience that caters to both novice and experienced traders.

    The AMM system provides continuous liquidity for perpetual contracts, enabling fast and efficient trades with minimal slippage.

    • Order Book Mode

    The on-chain order book allows precise trading at specific prices, giving traders full control over their strategies while maintaining decentralization.

    Partnership with Flow Blockchain

    Trado partners closely with Flow to support its users by providing a highly efficient method of on-chain trading. Flow is a proof of stake blockchain designed to be the foundation of Web3 and the open metaverse, supporting consumer-scale decentralized applications, NFTs, DeFi, DAOs, PFP projects, and more. Powered by Cadence, an original programming language built specifically for digital assets, Flow empowers developers to innovate and push the limits that will bring the next billion to Web3.

    Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.

    The MIL Network –

  • MIL-OSI: Abraxas Power Corp and Exploits Valley Renewable Energy Corporation Announce Strategic Master Lease Option Agreement for the Port of Botwood

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Oct. 10, 2024 (GLOBE NEWSWIRE) — Abraxas Power Corp. (“Abraxas”), a leading energy transition developer, and its subsidiary Exploits Valley Renewable Energy Corporation (“EVREC”), are pleased to announce the signing of a Master Lease Option Agreement (the “Agreement”) with Exploits Marine and Logistics Inc. and Exploits Valley Port Corporation for use of the Port of Botwood in EVREC’s green hydrogen and ammonia project in central Newfoundland.

    The Agreement, which spans a term of thirty years, will facilitate EVREC’s green hydrogen and ammonia production and operations related to the transmission and loading of green ammonia onto marine transport vessels for shipment to Europe and other global markets. The Agreement includes extension terms that allow EVREC to extend the lease for additional five-year terms.

    “This Agreement marks another major milestone in the development of our project and is a pivotal step towards building out the key infrastructure as the project continues through the development phase,” said Dean Comand, President and COO of Abraxas Power. “We are excited to collaborate with Exploits Marine and the Port Corporation to create a state-of-the-art facility that will not only enhance our operational capacity but also contribute to global sustainable energy goals.”

    The parties have also signed a five-year Construction Lease Option Agreement to facilitate the necessary activities that will lead up to commercial operation of the project.

    Scott Sceviour, Chair of the Exploits Valley Port Corporation added “Our partnership with EVREC is a testament to our shared vision of fostering innovation in the renewable energy sector and re-energizing our community’s economic outlook by providing shared infrastructure for other developments expected within the region. We are dedicated to collaborating on the infrastructure necessary for their success and to promoting environmentally responsible practices in our community.”

    Botwood Mayor James Sceviour added “We are pleased to continue working with EVREC on such an important and significant project for central Newfoundland. Investments at the local level not only fuel the global transition to sustainable energy but also ignites economic growth for other developments, creates jobs, and fosters resilience in our communities.”

    About Abraxas Power:

    Abraxas Power is a pioneering energy transition developer focused on decarbonizing hard-to-abate sectors and creating value by solving the current and future challenges of the energy transition. Abraxas Power’s broad mandate allows it to see opportunities across technologies and geographies to transform the global energy industry. Our team has extensive experience in leading, financing, and solving the challenges associated with energy transition, and a proven track record of delivering complex, large-scale development projects across various disciplines, including renewable power and storage, hydrogen and ammonia production, industrial and precious metals, large-scale project construction, and operations at scale. The team possesses strong project finance and capital markets experience and has a history of creating value for shareholders, stakeholders, and the communities they live in. Abraxas has signed strategic partnerships with various global strategics and technology providers.

    Abraxas has secured over US$9 billion in capital projects through competitive government awards over the past year in furtherance of the energy transition, including our marquis Exploits Valley Renewable Energy Corporation (“EVREC”) project.

    To learn more, visit http://www.abraxaspower.com 

    The MIL Network –

  • MIL-OSI: Origin Bancorp, Inc. Announces Third Quarter 2024 Earnings Release and Conference Call

    Source: GlobeNewswire (MIL-OSI)

    RUSTON, La., Oct. 10, 2024 (GLOBE NEWSWIRE) — Origin Bancorp, Inc. (NYSE: OBK) (“Origin”), the financial holding company for Origin Bank, plans to issue third quarter 2024 results after the market closes on Wednesday, October 23, 2024, and hold a conference call to discuss such results on Thursday, October 24, 2024, at 8:00 a.m. Central Time (9:00 a.m. Eastern Time). The conference call will be hosted by Drake Mills, Chairman, President and CEO of Origin, William J. Wallace, IV, Chief Financial Officer of Origin, and Lance Hall, President and CEO of Origin Bank.

    Conference Call and Live Webcast

    To participate in the live conference call, please dial +1 (929) 272-1574 (U.S. Local / International 1); +1 (857) 999-3259 (U.S. Local / International 2); +1 (800) 528-1066 (U.S. Toll Free), enter Conference ID: 84865 and request to be joined into the Origin Bancorp, Inc. (OBK) call. A simultaneous audio-only webcast may be accessed via Origin’s website at http://www.origin.bank under the investor relations, News & Events, Events & Presentations link or directly by visiting https://dealroadshow.com/e/ORIGINQ324.

    Conference Call Webcast Archive

    If you are unable to participate during the live webcast, the webcast will be archived on the Investor Relations section of Origin’s website at http://www.origin.bank, under Investor Relations, News & Events, Events & Presentations.

    About Origin Bancorp, Inc.

    Origin Bancorp, Inc. is a financial holding company headquartered in Ruston, Louisiana. Origin’s wholly owned bank subsidiary, Origin Bank, was founded in 1912 in Choudrant, Louisiana. Deeply rooted in Origin’s history is a culture committed to providing personalized relationship banking to businesses, municipalities, and personal clients to enrich the lives of the people in the communities it serves. Origin provides a broad range of financial services and currently operates more than 60 locations from Dallas/Fort Worth, East Texas and Houston, North Louisiana, Mississippi, South Alabama and the Florida Panhandle. For more information, visit http://www.origin.bank.

    Contact Information
    Investor Relations
    Chris Reigelman
    318-497-3177
    chris@origin.bank

    Media Contact
    Ryan Kilpatrick
    318-232-7472
    rkilpatrick@origin.bank

    The MIL Network –

  • MIL-OSI: VINCENT GELLE APPOINTED DEPUTY CHIEF EXECUTIVE OFFICER OF MOBILIZE FINANCIAL SERVICES, RCI BANQUE’S COMMERCIAL BRAND

    Source: GlobeNewswire (MIL-OSI)

    October 10th, 2024

    PRESS RELEASE

    VINCENT GELLE APPOINTED DEPUTY CHIEF EXECUTIVE OFFICER OF MOBILIZE FINANCIAL SERVICES, RCI BANQUE’S COMMERCIAL BRAND

    Mobilize Financial Services announces the appointment of Vincent Gellé as Deputy Chief Executive Officer, effective October 4 th.

    This appointment is part of the new organization sought by Martin Thomas to ensure that Mobilize Financial Services, the financial arm of the Renault Group brands, meets the challenges of the sector and strengthens its position as market leader.

    Martin Thomas, CEO, Mobilize Financial Services: “Mobilize Financial Services is giving itself the means to write a new chapter in its development in a particularly demanding context. I’m delighted that Vincent Gellé, who has worked his way up through the Group in a variety of positions both in France and internationally, can continue to bring us his expertise in this new role.”

            

    Born in 1978, Vincent Gellé graduated from ESSEC business school in 2000. He joined RCI Banque in 2001, holding a number of financial and commercial positions in France and abroad.
    He began his career in the UK in 2001 with Renault Financial Services, before joining RCI Banque’s head office in 2005 as Financial Controller. From 2008, Vincent Gellé successively held the positions of Administrative and Financial Director in South Korea, then Group Performance Control Director. In 2016, he continued his career in Japan with Nissan’s Finance Department, then in Russia as Sales & Martketing Director of RN Bank.
    He then joined Mobilize Financial Services headquarters in France, where he has held the role of VP, Accounting and Group Performance Control since August 2023. He is a member of the RCI Banque Executive Committee.

    About Mobilize Financial Services   
    Attentive to the needs of all its customers, Mobilize Financial Services, a subsidiary of Renault Group, creates innovative financial services to build sustainable mobility for all. Mobilize Financial Services, which began operations nearly 100 years ago, is the commercial brand of RCI Banque SA, a French bank specializing in automotive financing and services for customers and networks of Renault Group, and also for the brands Nissan and Mitsubishi in several countries.  
    With operations in 35 countries and nearly 4,000 employees, Mobilize Financial Services financed more than 1,2 million contracts (new and used vehicles) in 2023 and sold 3,9 million services. At the end of June 2024, average earning assets stood at 54,9 billion euros of financing and pre-tax earnings at 553 million euros.   
    Since 2012, the Group has deployed a deposit-taking business in several countries. At the end of June 2024, net deposits amounted to 29,4 billion euros, or 50 % of the company’s net assets.   
    To find out more about Mobilize Financial Services: http://www.mobilize-fs.com/  
    Follow us on Twitter: @Mobilize_FS 

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    The MIL Network –

  • MIL-OSI: Societe Generale: shares and voting rights as of 30 September 2024

    Source: GlobeNewswire (MIL-OSI)

    NUMBER OF SHARES COMPOSING CURRENT SHARE CAPITAL AND TOTAL NUMBER OF VOTING RIGHTS AS OF 30 SEPTEMBER 2024

    Regulated Information

    Paris, 10 October 2024

    Information about the total number of voting rights and shares pursuant to Article L.233-8 II of the French Commercial Code and Article 223-16 of the AMF General Regulations.

    Date Number of shares composing current share capital Total number of
    voting rights

    30 September 2024

    		 800,316,777

    Gross: 886,278,991

    Press contact:

    Jean-Baptiste Froville_+33 1 58 98 68 00_ jean-baptiste.froville@socgen.com
    Fanny Rouby_+33 1 57 29 11 12_ fanny.rouby@socgen.com

    Societe Generale

    Societe Generale is a top tier European Bank with more than 126,000 employees serving about 25 million clients in 65 countries across the world. We have been supporting the development of our economies for nearly 160 years, providing our corporate, institutional, and individual clients with a wide array of value-added advisory and financial solutions. Our long-lasting and trusted relationships with the clients, our cutting-edge expertise, our unique innovation, our ESG capabilities and leading franchises are part of our DNA and serve our most essential objective – to deliver sustainable value creation for all our stakeholders.

    The Group runs three complementary sets of businesses, embedding ESG offerings for all its clients:

    • French Retail, Private Banking and Insurance, with leading retail bank SG and insurance franchise, premium private banking services, and the leading digital bank BoursoBank.
    • Global Banking and Investor Solutions, a top tier wholesale bank offering tailored-made solutions with distinctive global leadership in equity derivatives, structured finance and ESG.
    • Mobility, International Retail Banking and Financial Services, comprising well-established universal banks (in Czech Republic, Romania and several African countries), Ayvens (the new ALD I LeasePlan brand), a global player in sustainable mobility, as well as specialized financing activities.

    Committed to building together with its clients a better and sustainable future, Societe Generale aims to be a leading partner in the environmental transition and sustainability overall. The Group is included in the principal socially responsible investment indices: DJSI (Europe), FTSE4Good (Global and Europe), Bloomberg Gender-Equality Index, Refinitiv Diversity and Inclusion Index, Euronext Vigeo (Europe and Eurozone), STOXX Global ESG Leaders indexes, and the MSCI Low Carbon Leaders Index (World and Europe).

    For more information, you can follow us on Twitter/X @societegenerale or visit our website societegenerale.com.

    Attachment

    The MIL Network –

  • MIL-OSI: Phunware to Participate in Webull Virtual Corporate Connect Webinar

    Source: GlobeNewswire (MIL-OSI)

    AUSTIN, Texas, Oct. 10, 2024 (GLOBE NEWSWIRE) — Phunware, Inc. (“Phunware” or the “Company”) (NASDAQ: PHUN), a leader in enterprise cloud solutions for mobile applications, announces that it will participate in the Webull LIVE! with Corporate Connect: Technology Investment Webinar on Wednesday, October 16, 2024 at 2pm ET. Phunware CEO Mike Snavely will present an overview of the Company and its strategic path forward and then participate in a Q&A session with investors.

       
    Presentation Date: October 16, 2024
    Time: 2pm ET
    Webinar Link: Click here to register
       

    About Phunware
    Leading hospitality brands partner with Phunware to delight their guests with personalized mobile experiences. Phunware’s mobile applications and SDKs leverage patented wayfinding and contextual engagement to guide guests to the right experience at the right time. Hotels, resorts, casinos, and convention centers can integrate their most important business systems to unify the guest journey, boost loyalty, and drive new revenue across their properties.

    https://www.phunware.com/solutions/hospitality/

    Safe Harbor
    This press release includes forward-looking statements. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations and financial position, business strategy and plans, and our objectives for future operations, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “expose,” “intend,” “may,” “might,” “opportunity,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “will,” “would” and similar expressions that convey uncertainty of future events or outcomes are intended to identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. For example, Phunware is using forward-looking statements when it discusses the proposed offering and the timing and terms of such offering and its intended use of proceeds from such offering should it occur. 

    The forward-looking statements contained in this press release are based on our current expectations and beliefs concerning future developments and their potential effects on us. Future developments affecting us may not be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) and other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those factors described under the heading “Risk Factors” in our filings with the SEC, including our reports on Forms 10-K, 10-Q, 8-K and other filings that we make with the SEC from time to time. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. These risks and others described under “Risk Factors” in our SEC filings may not be exhaustive.

    Phunware Media Inquiries: 
    MZ Group, North America
    Joe McGurk, Managing Director
    917-259-6895
    PHUN@mzgroup.us

    Phunware Investor Relations: 
    CORE IR
    516-222-2560
    investorrelations@phunware.com

    The MIL Network –

  • MIL-OSI: Cloudera Expands Industry-Leading Enterprise AI Ecosystem with New Partners

    Source: GlobeNewswire (MIL-OSI)

    New partners Anthropic, Google Cloud, and Snowflake join Cloudera’s AI Ecosystem at EVOLVE24 New York event

    Ecosystem of technology providers makes it easier, more economical, and safer for enterprises to maximize the value of AI initiatives

    SANTA CLARA, Calif. and NEW YORK, Oct. 10, 2024 (GLOBE NEWSWIRE) — Cloudera, a hybrid platform for data, analytics, and AI, today announced the expansion of its Enterprise AI Ecosystem during its annual data and AI conference, EVOLVE24 New York. This initiative brings together a diverse group of industry-leading AI providers to deliver comprehensive, end-to-end AI solutions for customers that help to maximize the value of AI.

    Large enterprises have special requirements for running AI applications at scale, including:

    • Demonstrating business value that justifies the total cost of ownership within a reasonable timeframe.
    • Adhering to strict security and privacy standards to protect sensitive data and maintain compliance.
    • Maintaining the flexibility to deploy a diverse range of models from a broad selection of vendors in the optimal environment for each use case – where the supporting data often resides.

    At last year’s EVOLVE conference, Cloudera launched the Enterprise AI Ecosystem, with these founding members:

    • NVIDIA who provides full-stack accelerated computing for the development and deployment of AI workloads both in private and public clouds. Cloudera’s recent announcement highlighted the expansion of its Cloudera’s AI Inference Service through the integration of NVIDIA NIM, part of the NVIDIA AI Enterprise software platform, a set of easy-to-use microservices designed for secure, reliable deployment of high-performance AI model inferencing across clouds, data centers and workstations.
    • Amazon Web Services (AWS) with Amazon Bedrock, which allows customers to build and scale generative AI applications with a single API.
    • Pinecone for its leading vector database, which underpins the most common technical AI use cases: Retrieval-Augmented Generation (RAG) and semantic search.

    Over the last year, the Enterprise AI Ecosystem has generated significant inbound interest and a steady flow of requests for Cloudera to build on its existing AI partners and establish new ones. Now Cloudera is proud to introduce its newest set of AI Ecosystem partners at EVOLVE24 New York. They are:

    • Google Cloud: Google Cloud’s Vertex AI Model Garden provides a centralized hub for discovering, customizing, and deploying a diverse range of models. This includes a selection of over 150 first-party, open, and third-party foundation models, including Google’s Gemini, Chirp, Imagen, and more. Google Cloud’s infrastructure also supports Cloudera’s DataHub platform, which serves as the data foundation for building AI applications.

      Additionally, for the first ecosystem collaboration, Cloudera released an Accelerator for Machine Learning Project (AMP) entitled “Summarization with Gemini from Vertex AI” to help customers quickly deploy a summarization use case that takes advantage of the cost effectiveness and performance of Gemini Pro Models accessed from the Vertex AI Model Garden via API.

    • Anthropic: Anthropic’s Claude large language models (LLMs) are ideal for code generation, vision analysis, data insight and text generation use cases. Anthropic’s family of Claude models will allow Cloudera users to balance performance and cost, while their commitment to AI safety research helps to ensure reliable, unbiased, and non-harmful outputs. Cloudera is releasing an AMP entitled “Image Analysis with Anthropic’s Claude LLM” that will significantly reduce the time to develop a production image analysis application. Cloudera is also making Claude its default foundational model for its Cloudera AI Coding Co-pilot.
    • Snowflake: Cloudera and Snowflake, the AI Data Cloud company, are building on their strategic collaboration, also announced at EVOLVE24, with Snowflake’s Arctic Embed models, which excel at SQL generation and offer strong cost-performance ratios. Snowflake’s Iceberg-enabled platform provides interoperability with Cloudera, facilitating the sharing of data to feed AI use cases. Cloudera is actively working on product integrations with Snowflake, which can be read about here.

    “We pioneered the Enterprise AI Ecosystem to cater to the complex and continually evolving enterprise-grade security, privacy, authorization, and LLM demands of major organizations; this involves a complete suite of solutions across accelerated compute, semantic querying, vector embeddings, multi-modal agents, RAG applications, fine-tuning, and frontier models,” stated Abhas Ricky, Chief Strategy Officer at Cloudera. “AI researchers and practitioners have since deployed 400+ cutting-edge AI accelerators (AMPs) and numerous agentic applications supporting high-value use cases such as voice of customer analysis, invoice reconciliation, and underwriting automation. Together we are delivering a fully integrated Enterprise AI platform, built on leading models and knowledge bases, to further production-ready high fidelity solutions delivered with experts by your side.”

    “OCBC has delivered dozens of Gen AI applications into production leveraging Cloudera AI and technologies from The Enterprise AI Ecosystem members,” said Adrien Chenailler, Head of Data Science and AI at OCBC Bank. “Our call center transcription application transcribes thousands of hours of calls daily and has led to a significant reduction in average call handling time. We have reduced the investment in research time of our Relationship Managers with GenAI. We’re delighted that Cloudera continues to expand their Enterprise AI Ecosystem because it delivers proven solution architectures that get us from prototype to production faster.”

    “Our partnership with Cloudera helps organizations extract hidden value in their enterprise data, including complex sources like images,” said Kate Jensen, Head of Growth and Revenue at Anthropic. “The new Image Analysis capability turns visual data from images, charts or graphics into actionable insights, while Claude as the default model for Cloudera AI Coding Assistant, and potential other use cases such as Text to SQL and NLP Co-pilots provides customers with a powerful AI assistant that boosts productivity and uncovers new opportunities in their data. Together, we’re transforming raw data into actionable intelligence, empowering businesses to make smarter decisions faster.”

    “We are thrilled to work with Cloudera to integrate Snowflake’s Arctic Embed models into Cloudera AI Inference powered by NVIDIA’s NIM,” said Baris Gultekin, Head of AI, Snowflake. “This collaboration will empower our joint customers to unlock the full potential of generative AI at scale, driving faster insights, enhanced decision-making, and transformative business outcomes. Together, Snowflake and Cloudera are pushing the boundaries of what’s possible with modern data platforms, providing businesses with the agility and intelligence they need to stay ahead in an increasingly AI-driven world.”

    Cloudera’s existing group of Enterprise AI Ecosystem partners, including NVIDIA and AWS, will also be in the spotlight at EVOLVE24 New York, happening today, October 10.

    Click here to learn more about how Cloudera and its partner ecosystem are making it easier, more economical, and safer for enterprises to maximize the value they get from AI.

    About Cloudera

    Cloudera is a hybrid platform for data, analytics, and AI. With 100x more data under management than other cloud-only vendors, Cloudera empowers global enterprises to transform data of all types, on any public or private cloud, into valuable, trusted insights. Our open data lakehouse delivers scalable and secure data management with portable cloud-native analytics, enabling customers to bring GenAI models to their data while maintaining privacy and ensuring responsible, reliable AI deployments. The world’s largest brands in financial services, insurance, media, manufacturing, and government rely on Cloudera to use their data to solve what was impossible—today and in the future.

    To learn more, visit Cloudera.com and follow us on LinkedIn and X. Cloudera and associated marks are trademarks or registered trademarks of Cloudera, Inc. All other company and product names may be trademarks of their respective owners.

    Contact
    Jess Hohn-Cabana
    cloudera@v2comms.com

    The MIL Network –

  • MIL-OSI: American Rebel CEO and American Rebel to be Featured at NHRA FallNationals Pre-Stage Fan Fest October 10 in Waxahachie, Texas

    Source: GlobeNewswire (MIL-OSI)

    CEO Andy Ross to Headline Music Main Stage with American Rebel Light Beer Bus in Attendance

    Nashville, TN, Oct. 10, 2024 (GLOBE NEWSWIRE) — American Rebel Holdings, Inc. (NASDAQ: AREB) (“American Rebel” or the “Company”), America’s Patriotic Brand and the creator of American Rebel Beer (http://www.americanrebelbeer.com), and branded safes, personal security and self-defense products and apparel, today announced the company will be featured at the National Hot Rod Association (“NHRA”) FallNationals Pre-Stage Fan Fest on October 10, 2024 taking place at Railyard Park in Waxahachie, Texas.

    Andy Ross, CEO of American Rebel, is the music headliner at the Pre-Stage Fan Fest, and the American Rebel Light Beer bus will be in attendance for guests. The free event, which begins with food trucks, live music, and activities for the whole family, takes place from 6-9 p.m. at Railyard Park (455 S. College St. Waxahachie, TX 75165). The company also provided American Rebel Light Beer at the previous night’s Champions Dinner.

    “Every year, the Pre-Stage Fan Fest gets bigger and bigger,” said Christie Meyer Johnson, Texas Motorplex co-owner. “We love having so many drivers spend time with the fans before the race starts. Last year, we added the JEGS Allstars participants, and now, we have one of the largest autograph sessions in all motorsports. This year, we have added Andy Ross to the main stage to rock out for all our fans in attendance.”

    The Pre-Stage Fan Fest (https://www.stampedeofspeed.com/event/thursday-jegs-all-stars) is an opportunity for drivers to spend time with the fans before the race starts, with one of the largest autograph sessions in all motorsports. More than 50 NHRA Mission Foods Drag Racing Series stars, including fan-favorites Justin Ashley, Ron Capps, Antron Brown, Texans Steve Torrence and Erica Enders, and Matt and Angie Smith. Reigning 2023 Texas FallNationals champions Matt Hagan, Erica Enders, and Gaige Herrera will be in attendance, as well as local drivers Buddy Hull and Kebin Kinsley.

    “We are thrilled to help kick off the FallNationals for the NHRA and its racing community with an evening of music, food and drinks,” said Andy Ross, Chief Executive Officer of American Rebel. “Our partnership with the NHRA continues to provide strategic opportunities to get our American Rebel Light Beer brand in front of the perfect patriotic fanbase.”

    The Texas NHRA FallNationals at the Texas Motorplex near Dallas is the 18th race on the NHRA Mission Foods Drag Racing Series’ 20-race schedule, and it is the fourth round in the six-race Countdown to the Championship. Tony Stewart Racing (TSR) drivers Tony Stewart (Top Fuel) and Matt Hagan (Funny Car) are both in the Countdown, with 2024 marking Stewart’s first appearance in the NHRA postseason and Hagan’s 13th.

    “To get a win in Texas for the fifth time would be huge. You just obviously want to keep doing well at tracks that treat you well and they (Texas Motorplex) do a really good job promoting the event. We (Leah Pruett and Hagan) have the Champions Dinner on Wednesday night, the Fan Fest on Thursday night that Andy Ross (American Rebel CEO) is going to be singing at. It’s just going to be a great weekend. We have multiple sponsors that will be there with Johnson’s Horsepowered Garage on the car and Andy Ross. It’s going to be a great thing and if we can pull down the fifth win at Texas Motorplex. I think it would be the icing on the cake.”

    About NHRA FallNationals

    The Countdown to the Championship blazes into Texas for the Stampede of Speed week, capped off with the Texas NHRA FallNationals. The Stampede of Speed is a ten-day festival of music, drag racing and amazing fan experiences leading up to the Texas NHRA FallNationals hosted at the historic Texas Motorplex, located just 35 minutes from Dallas and Fort Worth. For more information visit http://www.nhra.com.

    About American Rebel Holdings, Inc.

    American Rebel Holdings, Inc. (NASDAQ: AREB) has operated primarily as a designer, manufacturer and marketer of branded safes and personal security and self-defense products and has recently transitioned into the beverage industry through the introduction of American Rebel Beer by its wholly-owned subsidiary American Rebel Beverages, LLC. The Company also designs and produces branded apparel and accessories. To learn more, visit http://www.americanrebel.com and http://www.americanrebelbeer.com. For investor information, visit http://www.americanrebel.com/investor-relations.

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. American Rebel Holdings, Inc., (NASDAQ: AREB; AREBW) (the “Company,” “American Rebel,” “we,” “our” or “us”) desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “forecasts” “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements primarily on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include continued increase in revenues, actual size of Best Brands, actual sales to be derived from Best Brands, implied or perceived benefits resulting from the Best Brands agreement, actual launch timing and availability of American Rebel Beer in additional markets, our ability to effectively execute our business plan, and the Risk Factors contained within our filings with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2023. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as may be required by law.

    Company Contact:
    info@americanrebel.com

    James “Todd” Porter
    American Rebel Beverages, LLC
    tporter@americanrebelbeer.com

    Investor Relations:
    Brian Prenoveau
    MZ North America
    +1 (561) 489-5315
    AREB@mzgroup.us

    Attachment

    The MIL Network –

  • MIL-OSI: New Report Reveals: Customer Loyalty at Stake for Financial Institutions Due to Rise in Identity-Based Attacks

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Oct. 10, 2024 (GLOBE NEWSWIRE) — HYPR, the Identity Assurance Company, today released its spotlight report “When Trust is Hacked: Customer Identity Security in Finance.” This report sheds light on the persistent threat of credential misuse and authentication vulnerabilities plaguing the financial industry, drawing a direct correlation between the escalating cyber-threat landscape and the growing apprehension among today’s banking customers. The report’s findings underscore the devastating impact of identity-related cyberattacks on customer loyalty, revealing a staggering 80% of respondents would likely abandon their financial institution following a data breach.

    HYPR’s latest report draws on comprehensive insights from two surveys, encompassing both financial service organizations and their customers, with a total of 548 respondents. This robust data set provides a unique and multifaceted perspective on the current state of identity security in the financial sector – revealing that current technologies are simply failing. Alarmingly, within the past year alone, 86% of finance organizations have been targeted by identity-related cyberattacks, with 84% falling victim to identity fraud. Additionally:

    • Financial institutions suffered losses of up to $4.57 million in the last year alone, more than double the $2.19 million reported in 2022 – due to insecure authentication methods.
    • Over three-quarters (77%) faced at least one breach due to credential misuse or authentication weaknesses.
    • Organizations observed a multitude of attacks with phishing attacks leading in prevalence (42%), followed by credential stuffing (29%), identity impersonation (28%), and push notification attacks (27%).

    “The financial sector remains a prime target for cybercriminals, and identity processes remain a major weak point. Institutions must proactively adapt their defenses to outpace evolving threats, or risk eroding customer trust and facing significant financial losses. Inaction is not an option,” said Gehan Dabare, newly appointed HYPR Advisor and leader for IAM at companies such as JPMC, Citi, CVS Health. “Gone are the days of blind trust. Today’s consumers are informed and empowered, demanding transparency, cutting-edge technology, and the peace of mind that comes with knowing their finances are secure.”


    The High Stakes Impact on Customers
    Today’s banking customers are demanding more accountability from their financial institutions, rejecting the unquestioning loyalty of previous generations. The consequences are clear with an overwhelming 80% of customers prepared to switch banks following a data breach. This intolerance for security lapses is even more pronounced among younger customers, with 93% of those under 35 ready to close their accounts. In contrast, more than a quarter of customers aged 45 and older would remain loyal after a breach. These findings emphasize a clear shift in customer priorities across all age groups: security, company values, and technological innovation are now paramount when evaluating banking relationships. Of those surveyed:

    A mere 11% of respondents were aware of breaches affecting their banks, while 63% firmly believed their banks were unscathed, and the remaining quarter were uncertain. This highlights a critical gap in communication from financial institutions during breaches, raising concerns about the effectiveness of their disclosures. In terms of authentication protocols and technology, most respondents (95.5%) are aware of passkeys as an available login technology. Armed with this information, 77% of customers would actively favor a bank offering passkeys over one that doesn’t.

    Yet, despite the growing demand for heightened authentication measures, financial institutions are trailing in their offerings of safer methods. Nearly a quarter (22%) of respondents still repurpose passwords across financial accounts, while close to 90% rely on one-time passwords (SMS, email or voice) and 7% rely solely on a password. This demonstrates the need for modernization in the financial sector’s authentication practices, especially as customers become increasingly aware of and demand stronger security measures.

    “It’s a stark paradox: the financial sector invests heavily in cybersecurity yet remains a prime target. The question isn’t how these attacks happen, but why they persist,” states Bojan Simic, CEO and Co-founder of HYPR. “Our research exposes the dual nature of this challenge: the struggle to implement effective technology amidst rapidly evolving AI-driven threats, and the rising tide of customer expectations demanding both robust security and transparent communication. This is a defining moment for financial institutions to adapt or be left behind.”

    About HYPR
    HYPR, the leader in passwordless identity assurance, delivers the industry’s most comprehensive end-to-end identity security for your workforce and customers. By unifying phishing-resistant passwordless authentication, adaptive risk mitigation, and automated identity verification, HYPR ensures secure and seamless user experiences for everyone.

    Trusted by organizations worldwide, including two of the four largest US banks, leading manufacturers, and critical infrastructure companies, HYPR secures some of the most complex and demanding environments globally.

    Media:
    Fabienne Dawson
    fabienne@hypr.com
    917.374.6860

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/215d6253-f76f-4a3d-86cf-139896d58be2

    The MIL Network –

  • MIL-OSI: Cloudera Partners with Snowflake to Unleash Hybrid Data Management Integration Powered by Iceberg

    Source: GlobeNewswire (MIL-OSI)

    Unveiled at EVOLVE24, the unified platform will reduce total cost of ownership and provide a single source of truth for all enterprise data

    SANTA CLARA, Calif. and NEW YORK, Oct. 10, 2024 (GLOBE NEWSWIRE) — Cloudera, the only true hybrid platform for data, analytics, and AI, today announced an integration with Snowflake, the AI Data Cloud company, to bring enterprises an open, unified hybrid data lakehouse, powered by Apache Iceberg. Now, enterprises can leverage the combination of Cloudera and Snowflake—two best-of-breed tools for ingestion, processing, and consumption of data—for a single source of truth across all data, analytics, and AI workloads.

    Data is a business’s most powerful asset. It drives informed decision-making, provides a competitive advantage, and reveals opportunities for innovation. A 2022 study revealed that 80% of businesses report higher revenue due to real-time data analytics, and 98% report an increase in positive customer sentiment due to leveraging data. However, to fully harness the power of data, businesses need a single, unified source of truth for storing, managing, and governing all enterprise data, regardless of where it resides.

    Cloudera has extended its Open Data Lakehouse interoperability to Snowflake, allowing joint customers seamless access to Cloudera’s Data Lakehouse via its Apache Iceberg REST Catalog. Customers benefit from an optimized data platform powered by Apache Iceberg, which enables them to ingest, prepare, and process their data with best-in-class tools. Also, Snowflake users can now query data stored on Cloudera’s Ozone, an on-premises AWS S3-compatible object storage solution, directly from Snowflake. Customers now have access to all major form factors from one cohesive collaboration, on-premise, and as a platform-as-a-service (PaaS) and software-as-a-service (SaaS).

    In addition to enabling greater interoperability between the two systems, Cloudera customers will experience the ease of Snowflake’s Business Intelligence engine. The Snowflake engine can access data from Cloudera’s Open Data Lakehouse without requiring data duplication or transfer, reducing complexity, streamlining operations, and maintaining data integrity.

    Moreover, this collaboration leads to a reduction in the total cost of ownership of the integrated stack for enterprises. The elimination of data and metadata silos, rationalization of data pipelines, and streamlining of operational efforts are key factors in this cost reduction. These improvements help deliver analytics and AI use cases at scale more efficiently, further enhancing the value proposition for businesses leveraging both Cloudera and Snowflake. This strategic integration not only optimizes analytic workflows but also provides a robust framework for enterprises to drive innovation and gain competitive advantages in their respective markets.

    Additional benefits of this integration include:

    • Managed Iceberg Tables: Iceberg tables enhance data performance and reliability, allowing joint customers to unlock the full potential of their data through better organization, faster queries, and simplified data management, regardless of where the data is stored.
    • Best-of-Breed Engines: Joint customers benefit from top-tier engines to ingest, prepare, and manage their data, enabling seamless management of both artificial intelligence (AI) and business intelligence workloads.
    • Unified Security and Governance: This integration consolidates data security and governance across the entire data lifecycle. Joint customers can apply consistent security measures, track data origin and movement, and manage metadata within a single platform, on-premises or the cloud.

    “By extending our open data lakehouse capabilities through Apache Iceberg to Snowflake, we’re enabling our customers to not only optimize their data workflows but also unlock new opportunities for innovation, efficiency, and growth,” said Abhas Ricky, Chief Strategy Officer of Cloudera. “This will help customers simplify their data architecture, minimize data pipelines, and reduce total cost of ownership of their data estate while reducing security risks. Together, Snowflake and Cloudera are bringing about the next era of data-driven decision-making for every modern organization.”

    “Apache Iceberg is a leading choice for customers who want open standards for data, and Cloudera has been an integral part of the Iceberg project,” said Tarik Dwiek, Head of Technology Alliances at Snowflake. “Our partnership expands what’s possible for customers who choose to standardize on Iceberg tables. We are excited to break down silos and deliver a unified hybrid data cloud experience with multi-function analytics to all of our customers.”

    “Through this collaboration, customers gain access to a unified, robust data management platform that provides a single source of truth for all of their data, whether in the cloud or on-premises,” said Sanjeev Mohan, analyst at SanjMo. “This enables them to streamline and secure their data operations while efficiently analyzing and extracting insights across the entire data lifecycle – from ingestion to AI and analytics. It’s a strategic move from two industry giants to partner in a way that will deliver immediate value to businesses.”

    In addition, reaffirming our commitment to advancing Iceberg adoption, Cloudera is excited to announce the technical preview of Cloudera Lakehouse Optimizer. This new service autonomously optimizes your Iceberg tables, further reducing costs while significantly enhancing the performance of your Lakehouse. To learn more about this technical preview, click here.

    About Cloudera
    Cloudera is the only true hybrid platform for data, analytics, and AI. With 100x more data under management than other cloud-only vendors, Cloudera empowers global enterprises to transform data of all types, on any public or private cloud, into valuable, trusted insights. Our open data lakehouse delivers scalable and secure data management with portable cloud-native analytics, enabling customers to bring GenAI models to their data while maintaining privacy and ensuring responsible, reliable AI deployments. The world’s largest brands in financial services, insurance, media, manufacturing, and government rely on Cloudera to use their data to solve what seemed impossible—today and in the future.

    To learn more, visit Cloudera.com and follow us on LinkedIn and X. Cloudera and associated marks are trademarks or registered trademarks of Cloudera, Inc. All other company and product names may be trademarks of their respective owners.

    Contact
    Jess Hohn-Cabana
    cloudera@v2comms.com

    The MIL Network –

  • MIL-OSI: Nasdaq Rises to 5th in RiskTech100 Global Ranking Following Launch of Financial Technology Division

    Source: GlobeNewswire (MIL-OSI)

    Announcement comes ahead of the first anniversary of Nasdaq’s acquisition of Adenza

    Nasdaq also wins two awards for its financial crime management and regulatory reporting technology

    NEW YORK, Oct. 10, 2024 (GLOBE NEWSWIRE) — Nasdaq (Nasdaq: NDAQ) today announced it has jumped to 5th place in Chartis’ annual RiskTech100® global ranking and has won two awards for its financial crime management and regulatory reporting technology. The news comes less than a year after Nasdaq’s acquisition of Adenza and the establishment of its Financial Technology division. Today, as a scaled platform partner Nasdaq draws on deep industry experience, technology leadership and cloud managed services to help 3,500+ banks, brokers, regulators, central banks, financial infrastructure operators, and buy-side firms solve their most complex operational challenges across risk, compliance, and trade management.

    Chartis’ annual RiskTech100® awards and ranking is widely regarded as the most comprehensive independent study of the world’s major players in risk and compliance technology. In 2023 Nasdaq ranked #18 while Adenza placed #10, with this year’s position reflecting the combined power of its technology offering.

    “This is a remarkable achievement less than one year into the integration,” said Tal Cohen, President of Nasdaq. “The financial services industry faces a series of challenges through increased regulatory scrutiny, ongoing market reforms, and ever more sophisticated financial crime, alongside accelerated technology innovation. Our customers consistently tell us that they value the opportunity to partner with brands that they trust, that are highly regulated themselves and can offer insight and expertise beyond the platforms they provide. We welcome the opportunity to support our clients at such a pivotal moment for the industry, and I’m proud to see our achievements recognized by Chartis.”

    Sid Dash, Chief Researcher at Chartis Research, added: “Nasdaq’s acquisitions, individually and collectively, provide comprehensive coverage of the transaction lifecycle, and are appropriately supported with a strong technology and service framework. Indeed, the breadth of its capabilities has moved it into the top five in the risk technology space.”

    A comprehensive portfolio of mission-critical technology

    Nasdaq’s Capital Markets Technology is deeply embedded into client workflows and serves as the backbone of the capital market operations it underpins, serving as one of the world’s largest market infrastructure technology providers to more than 130 financial market operators globally, including over half of the world’s largest exchanges. In addition, Nasdaq Calypso is a truly global front-to-back trade management, multi-asset class platform – spanning trading, clearing, risk management and post-trade processing – with particular strength in OTC products.

    Nasdaq’s Regulatory Technology solutions play a critical role in protecting trust and integrity across the global financial system, helping clients efficiently and effectively comply with an extensive range of regulatory requirements in an increasingly complex and rapidly evolving environment.

    Nasdaq AxiomSL is a comprehensive regulatory reporting and compliance platform, helping clients comply with requirements across 55 countries and 110 regulators. Nasdaq’s market and trade surveillance technology helps firms detect and prevent market abuse across an extensive network of regulators, exchanges, digital assets marketplaces and market participants. Its cloud-based anti-financial crime technology, Nasdaq Verafin, integrates, resolves, and enriches data from hundreds of data sources and thousands of institutions representing more than $9 trillion in collective assets, to help firms more effectively detect fraud and combat criminal activity.

    With Nasdaq’s technology used by 97% of global systematically important banks, half of the world’s top 25 stock exchanges, 35 central banks and regulatory authorities, it touches a significant portion of the global financial system daily.

    Nasdaq’s ranking also included an assessment of their Nasdaq Boardvantage® board management software, Nasdaq Metrio™ sustainability reporting platform, and Sustainable Lens™ ESG AI Research and Benchmarking solution. More details on the products and services can be found here.

    Nasdaq wins two awards for financial crime and regulatory reporting technology

    Alongside the RiskTech100 ranking, Chartis announced Nasdaq has won two industry awards for Managed Services: Financial Crime and Regulatory Reporting: Markets and Securities.

    The award for Managed Services: Financial Crime recognizes Nasdaq Verafin’s leadership in financial crime management, emphasizing its comprehensive suite of anti-money laundering and fraud detection solutions for a large client base. Its unified platform combines financial crime solutions into one service, with scalable architecture serving a broad range of banks.

    The Regulatory Reporting: Markets and Securities award highlights Nasdaq’s leadership in regulatory reporting through AxiomSL, noting its extensive multi-jurisdictional, multi-market reporting, and expertise in adapting to complex regulatory requirements.

    About Nasdaq

    Nasdaq (Nasdaq: NDAQ) is a leading global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions, and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at http://www.nasdaq.com.

    Nasdaq Media Contact: 
    Andrew Hughes 
    +44 (0)7443 100896 
    Andrew.Hughes@nasdaq.com  

    -NDAQG-

    Cautionary Note Regarding Forward-Looking Statements:  

    Information set forth in this press release contains forward-looking statements that involve a number of risks and uncertainties. Nasdaq cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information. Forward-looking statements can be identified by words such as “can” and other words and terms of similar meaning. Such forward-looking statements include, but are not limited to, statements related to the benefits of Nasdaq’s Financial Technology solutions. Forward-looking statements involve a number of risks, uncertainties or other factors beyond Nasdaq’s control. These risks and uncertainties are detailed in Nasdaq’s filings with the U.S. Securities and Exchange Commission, including its annual reports on Form 10-K and quarterly reports on Form 10-Q which are available on Nasdaq’s investor relations website at http://ir.nasdaq.com and the SEC’s website at http://www.sec.gov. Nasdaq undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.  

    The MIL Network –

  • MIL-OSI: Sky Quarry to Begin Trading Publicly on NASDAQ

    Source: GlobeNewswire (MIL-OSI)

    WOODS CROSS, Utah, Oct. 10, 2024 (GLOBE NEWSWIRE) — Sky Quarry Inc. (NASDAQ: SKYQ) (“Sky Quarry,” “SQI,” or the “Company”), an oil production, refining, and development-stage environmental remediation company formed to deploy technologies to facilitate the recycling of waste asphalt shingles and remediation of oil-saturated sands and soils, announced that its common stock will begin trading on the NASDAQ Capital Market today, October 10, 2024, at approximately 11:00am EST under the ticker symbol “SKYQ”.

    On October 9, 2024, Sky Quarry announced it closed a Public Offering of $6,708,030 through the sale of 1,118,005 shares of its Common Stock priced at $6.00 per share.

    Digital Offering, LLC, acted as the lead managing selling agent. Clyde Snow & Sessions, PC acted as counsel to Sky Quarry and Bevilacqua PLLC acted as counsel for the managing selling agent.

    For more information and additional investor materials, please visit the Company’s investor relations website here.

    About Sky Quarry Inc.

    Sky Quarry Inc. and its subsidiaries are, collectively, an oil production, refining, and a development-stage environmental remediation company formed to deploy technologies to facilitate the recycling of waste asphalt shingles and remediation of oil-saturated sands and soils. Our waste-to-energy mission is to repurpose and upcycle millions of tons of asphalt shingle waste, diverting them from landfills. By doing so, we can contribute to improved waste management, promote resource efficiency, conserve natural resources, and reduce environmental impact. For more information, please visit http://www.skyquarry.com.

    Forward-Looking Statements

    This press release may include ”forward-looking statements.” All statements pertaining to our future financial and/or operating results, future events, or future developments may constitute forward-looking statements. The statements may be identified by words such as “expect,” “look forward to,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “estimate,” “will,” “project,” or words of similar meaning. Such statements are based on the current expectations and certain assumptions of our management, of which many are beyond control. These are subject to a number of risks, uncertainties, and factors, including but not limited to those described in disclosures. Should one or more of these risks or uncertainties materialize or should underlying expectations not occur or assumptions prove incorrect, actual results, performance, or our achievements may (negatively or positively) vary materially from those described explicitly or implicitly in the relevant forward-looking statement. We neither intend, nor assume any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading “Risk Factors” and elsewhere in the offering statement filed with the SEC. Forward-looking statements speak only as of the date of the document in which they are contained.

    Investor Relations
    Chris Tyson
    Executive Vice President
    MZ Group – MZ North America
    949-491-8235
    SKYQ@mzgroup.us
    http://www.mzgroup.us

    Company Website

    https://investor.skyquarry.com/

    The MIL Network –

  • MIL-OSI New Zealand: Govt broadly accepts Royal Commission findings

    Source: New Zealand Government

    The Government has broadly accepted the findings of the Royal Commission of Inquiry into Abuse in Care whilst continuing to consider and respond to its recommendations.

    “It is clear the Crown utterly failed thousands of brave New Zealanders. As a society and as the State we should have done better. This Government is determined to do better,” Lead Coordination Minister Erica Stanford says.

    “We broadly accept the findings of the report. Further work is required to respond to those findings that are legal in nature. In the meantime, we are focused on delivering a considered and comprehensive response to the recommendations.”

    The Government is currently working through the 138 recommendations and the 95 recommendations from the 2021 interim report on redress. 

    “Since the tabling of Whanaketia on 24 July, we acknowledged some children and young people experienced torture at the Lake Alice Unit and set up urgent financial assistance to those survivors who are terminally ill.

    “A Crown Response Office has also been established to drive the Government’s ongoing response and the Prime Minister will publicly apologise to abuse in care survivors in Parliament on 12 November,” Ms Stanford says.

    “The abuse perpetuated on survivors for decades is a debt that can never be repaid. I acknowledge the Royal Commission process has spanned six years and survivors would like to see action. The recommendations are complex and it’s important they are considered carefully and respectfully.”

    MIL OSI New Zealand News –

  • MIL-OSI Russia: Financial News: The autumn cycle of webinars “Fintrek” for students and teachers will begin on October 23

    MILES AXLE Translation. Region: Russian Federation –

    Source: Central Bank of Russia –

    In the new season, participants will have 5 webinars with representatives of the Bank of Russia and financial market experts. “Fintrek” is a unique opportunity to learn first-hand why inflation occurs, what generative artificial intelligence is, who are drops and what should a person do who is involved in droppering. They will also tell you where to start your career path and how to achieve success. The topics were selected taking into account the feedback from participants of the last season of “Fintrek”.

    Alexander Auzan, Dean of the Faculty of Economics at Lomonosov Moscow State University, speaker of the 2023 Fintrek fall season, notes: “The financial market is a puzzle of a thousand pieces that can only be assembled by understanding how these pieces are interconnected. The Fintrek webinar series will help students discover these connections with the help of experts who see every detail from the inside, find common ground between them, and assemble them into a single picture.”

    Classes will be held on Wednesdays at 10:00 Moscow time. It is no longer necessary to adjust your plans to the webinar schedule – the recordings will be posted on the Fintrek platform, and you can watch them at any convenient time. You only need to register onproject website.

    Every week, registered participants will be given away a prize of branded merch.

    Upon completion of the classes, students will be able to receive a personal certificate, which will be useful for a personal portfolio. To do this, you need to pass the entrance test until October 23 inclusive, watch all the webinars and successfully pass the final test.

    The autumn season will last until November 20. All information will be posted in the project community VKontakteAndtelegram channelHere you can also send a question to the speakers and receive an answer.

    Students from 1,500 universities from 89 regions of Russia took part in the last season of Fintrek, which took place in the spring of 2024. The most popular topics were “Investment Trends 2024”, “Loans and Installments”.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

    http://vvv.kbr.ru/press/event/?id=21072

    MIL OSI Russia News –

  • MIL-OSI Russia: Financial news: Bank of Russia lifts PSC limit on mortgages until March 31, 2025 (10.10.2024)

    MILES AXLE Translation. Region: Russian Federation –

    Source: Central Bank of Russia –

    The Board of Directors of the Bank of Russia adopted solution from October 10, 2024 to March 31, 2025, there will be no restrictions for credit institutions total cost of credit (TCC) for mortgage consumer loans for the purchase (construction) of housing or land.

    This decision will allow banks to reflect in mortgage rates the latest changes in the situation in the main segments of the financial market, including those that have developed under the influence of decisions on the key rate, without the risk of violating the requirements of the law on the maximum level of the APR. Thus, the possibility of obtaining mortgage loans by borrowers will remain – albeit at higher rates, but without an additional increase in the cost of housing.

    The risks of increasing the debt burden of mortgage borrowers will be limited by the macroprudential surcharges already in effect.

    To enable mortgage lenders to better adapt to changing market conditions, the Bank of Russia is considering the possibility of permanently lifting the limit on the APR in mortgages.

    For other products of credit institutions and all loans of microfinance institutions, credit consumer cooperatives (including agricultural ones) and pawnshops, the limitation of the APR remains.

    When using the material, a link to the Press Service of the Bank of Russia is required.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

    http://vvv.kbr.ru/press/PR/?file=63864183471356979shBANK_SECTOR.htm

    MIL OSI Russia News –

  • MIL-OSI United Kingdom: Press release: Tidalwave of clean energy investment worth billions unlocked ahead of Investment Summit

    Source: United Kingdom – Prime Minister’s Office 10 Downing Street

    Thousands of jobs in green industries announced as the UK Government welcomes more than £24 billion of private investment for pioneering energy projects ahead of the International Investment Summit on 14th October.

    • Thousands of jobs in energy sector to be created across the UK up to £24 billion worth of investment secured ahead of International Investment Summit.
    • Boost for clean energy industries demonstrates vote of confidence in UK and government’s growth mission.
    • Comes as Prime Minister puts investment and growth at heart of first Council of Nations and Regions meeting in Scotland today.

    Thousands of jobs in green industries announced as the UK Government welcomes more than £24 billion of private investment for pioneering energy projects ahead of the International Investment Summit on 14th October.        

    The investments confirmed by private investors today will deliver growth in the clean energy sector across our nations and regions, from Yorkshire to Suffolk and Aberdeen to Stow, representing a huge vote of confidence in the UK and long-term growth.       

    Driven by the government’s clear path to growth creating the conditions for businesses to thrive, the billions worth of investments from leading companies include Iberdrola – one of the biggest energy companies in Europe – doubling their investment in the UK, Orsted unlocking £8bn and GreenVolt £2.5bn of investment in offshore wind farms, and SeAh Wind UK announcing a £225 million expansion of their investment in the North East to build a state-of-the-art wind technology manufacturing facility in Teesside, solidifying the UK’s position as a world leader in the wind power industry.   

    In only 100 days, the government has overturned the nine-year onshore wind ban in 72 hours, consented more solar than ever before, secured the most successful renewable auction round in history, and launched Great British Energy.     

    Prime Minister Keir Starmer said:    

    Today’s investments are a huge vote of confidence in this government and our relentless focus to drive growth across the UK.

    Whether you’re in Scotland, Wales, Northern Ireland or England – we are creating the conditions for businesses to thrive, and our International Investment Summit will be a springboard for every part of the UK to be an engine of innovation and investment.

    Today I’m convening the first ever Council of Nations and Regions, because it is when we work together in the spirit of genuine partnership, that we can deliver the real change people want to see and improve opportunities for all.  

    Iberdrola Executive Chairman Ignacio Galán said:    

    After having invested more than £30bn in the last 15 years, the clear policy direction, stable regulatory frameworks and overall attractiveness of the UK are leading us to double our investments for 2024-28, reaching up to £24bn.

    This is a vote of confidence in the UK’s clear and stable policies and is a major boost to the economy and the path towards green energy security and Net Zero. The benefits of electrification in terms of energy security, industrial development, jobs and decarbonisation are shared ambitions of the UK and Iberdrola.

    The investments demonstrate further progress on the government’s clean energy mission and a major boost to the UK economy three days before the first International Investment Summit on 14 October, which will gather UK leaders, high-profile investors and businesses from across the world to deepen our partnership to drive investment and growth.    

    It also comes as the Prime Minister today convenes the first Council of the Nations and Regions, delivering on a manifesto promise to rewire the way UK Government operates. Focussed on investment and growth, the Council will see First Ministers and Deputy First Minister from the Devolved Governments come together with regional mayors to collaborate and seize opportunities to secure long-term investment and boost growth. The agenda, agreed with attendees, includes discussion on how to boost growth and inward investment across the UK, including through an industrial strategy and the Investment Summit.    

    The Prime Minister will also hold bilateral meetings and a joint meeting with the Devolved Government First Ministers and Deputy First Minister focussed on supporting intergovernmental relations as we continue to reset our relationship and work together to deliver for people across the UK.     

    Today’s investments include:    

    • Iberdrola doubling their investment in the UK, through Scottish Power, from £12bn to £24bn over the next 4 years, which includes £4bn for the East Anglia 2 wind farm off the Suffolk coast which was unlocked by this Government’s expanded allocation at the most recent wind auction round. Iberdrola Executive Chairman Ignacio Galan has also today confirmed that the UK has become their largest Investment destination.
    • Orsted and Greenvolt confirming that the Government’s recent expanded offshore wind auction means their projects will unlock £8bn (Orsted) and £2.5bn (Greenvolt) of investment respectively in their planned offshore wind farms. Orsted says its commitment will see thousands of jobs for local people, while Greenvolt says it will create up to 2800 construction jobs.
    • SeAH Wind has made an additional £225 million investment into wind technology manufacturing in Teesside, thanks to new backing from UK Export Finance, which expects to create 750 direct jobs by 2027. This brings their total investment into the site at Teesworks up to £900 million and will help them make their ongoing factory build – one of the biggest facilities of its kind worldwide – even bigger.
    • Macquarie supporting investment of £1.3bn into new green infrastructure including its Island Green Power solar farm in Stow, as a result of planning consents having been granted by the Government, and its Roadchef portfolio company installing electric car ultra-fast charging points across its sites along the UK motorway network.
    • BW Group proceeding with a £300m investment into a new battery energy storage project in Birmingham.
    • Holtec, a major US advanced nuclear engineering company, has confirmed a significant investment of £325 million in a new factory in South Yorkshire which will supply materials for Hinkley Point C and likely Sizewell C power stations. They say this will create up to 490 direct and 280 indirect jobs annually during the construction phase and 1,200 direct engineering jobs created over 20 years.     

    Mads Nipper, CEO of Ørsted A/S said:    

    The reason we are investing in the UK is that alongside the targets for clean energy, we also see the commitment to creating the policy frameworks required to deliver those targets and a government who wants to work with businesses to enable the investments required.

    Lord Nicol Stephen, Chief Executive of Flotation Energy said:  

    Green Volt is a trailblazing, multibillion pound floating offshore wind project which will kickstart jobs and investment by companies right across the UK offshore supply chain. The choice of our HQ in Aberdeen is clear evidence of our strong commitment to support local jobs and businesses wherever possible.

    Chris Sohn, Chief Executive of SeAH Wind, said:    

    With the proactive support of UKEF, our project is progressing smoothly. As we approach the completion of the factory construction, we are committed to ensuring its successful finalization. We aim to become the first monopile manufacturing company in the UK and make a significant contribution to the UK economy.

    Andreas Sohmen-Pao, Chairman of BW Group, said:     

    BW Group is delighted to announce that its subsidiary BW ESS intends to shortly begin construction on two large battery projects in the Midlands – Hams Hall and Berkswell – with a combined capacity of 600 MW. These projects represent a major step forward in enhancing the UK’s energy infrastructure and supporting the transition to renewables.

    I am encouraged by the UK government’s commitment to the clean energy transition and our announcement today highlights BW Group’s commitment to strengthening our presence in the UK and contributing to the growth of the clean energy sector.

    Shemara Wikramanayake, Chief Executive Officer of Macquarie Group, said:   

    We believe that infrastructure investment helps create strong foundations for economic growth, job creation, better services for the public and stronger communities. We are fully invested in the UK’s success and look forward to playing our part in delivering the investment the country needs.

    Dr Rick Springman, Holtec’s President of Global Clean Energy Opportunities, said:   

    Holtec has been part of the UK’s nuclear fabric for over 30 years. We recognise the UK’s long-term commitment to nuclear energy to drive forward government missions on clean energy and economic growth.

    Our planned advanced manufacturing factory in South Yorkshire will bring thousands of skilled, highly-paid engineering jobs to the region while supporting tens of thousands more in the UK’s wider manufacturing supply chains.

    The potential size of the prize of this investment is significant. Depending on future SMR order books it could open up a £30bn export market over ten years adding billions of pounds to the UK economy. Over the coming months Holtec will be finalising its full factory plans and designs based on its UK and international order book.

    This follows the announcement earlier this week that up to 500 UK manufacturing jobs are set to be supported as bus operator Go Ahead confirms a major £500 million investment to decarbonise its fleet including. This includes creating a new dedicated manufacturing line and partnership with Northern Ireland-based UK bus manufacturer Wrightbus.    

    Yesterday, the Department for Energy Security & Net Zero gave the green light for a new scheme to help unlock billions in investment in energy storage infrastructure. This could see the first significant long duration energy storage facilities in nearly 4 decades, helping to create back up renewable power and bolster the UK’s energy security.    

    And it also builds on the Government confirming funding to launch the UK’s first carbon capture sites in Teesside and Merseyside. Two new carbon capture and CCUS enabled hydrogen projects will create 4,000 new jobs, in a boost for the economy and British industry, helping remove over 8.5 million tonnes of carbon emissions each year – the equivalent of taking around 4 million cars off the road.

    Updates to this page

    Published 10 October 2024

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Tidalwave of clean energy investment worth billions unlocked ahead of Investment Summit

    Source: United Kingdom – Executive Government & Departments

    Thousands of jobs in green industries announced as the UK Government welcomes more than £24 billion of private investment for pioneering energy projects ahead of the International Investment Summit on 14th October.

    • Thousands of jobs in energy sector to be created across the UK up to £24 billion worth of investment secured ahead of International Investment Summit.
    • Boost for clean energy industries demonstrates vote of confidence in UK and government’s growth mission.
    • Comes as Prime Minister puts investment and growth at heart of first Council of Nations and Regions meeting in Scotland today.

    Thousands of jobs in green industries announced as the UK Government welcomes more than £24 billion of private investment for pioneering energy projects ahead of the International Investment Summit on 14th October.        

    The investments confirmed by private investors today will deliver growth in the clean energy sector across our nations and regions, from Yorkshire to Suffolk and Aberdeen to Stow, representing a huge vote of confidence in the UK and long-term growth.       

    Driven by the government’s clear path to growth creating the conditions for businesses to thrive, the billions worth of investments from leading companies include Iberdrola – one of the biggest energy companies in Europe – doubling their investment in the UK, Orsted unlocking £8bn and GreenVolt £2.5bn of investment in offshore wind farms, and SeAh Wind UK announcing a £225 million expansion of their investment in the North East to build a state-of-the-art wind technology manufacturing facility in Teesside, solidifying the UK’s position as a world leader in the wind power industry.   

    In only 100 days, the government has overturned the nine-year onshore wind ban in 72 hours, consented more solar than ever before, secured the most successful renewable auction round in history, and launched Great British Energy.     

    Prime Minister Keir Starmer said:    

    Today’s investments are a huge vote of confidence in this government and our relentless focus to drive growth across the UK.

    Whether you’re in Scotland, Wales, Northern Ireland or England – we are creating the conditions for businesses to thrive, and our International Investment Summit will be a springboard for every part of the UK to be an engine of innovation and investment.

    Today I’m convening the first ever Council of Nations and Regions, because it is when we work together in the spirit of genuine partnership, that we can deliver the real change people want to see and improve opportunities for all.  

    Iberdrola Executive Chairman Ignacio Galán said:    

    After having invested more than £30bn in the last 15 years, the clear policy direction, stable regulatory frameworks and overall attractiveness of the UK are leading us to double our investments for 2024-28, reaching up to £24bn.

    This is a vote of confidence in the UK’s clear and stable policies and is a major boost to the economy and the path towards green energy security and Net Zero. The benefits of electrification in terms of energy security, industrial development, jobs and decarbonisation are shared ambitions of the UK and Iberdrola.

    The investments demonstrate further progress on the government’s clean energy mission and a major boost to the UK economy three days before the first International Investment Summit on 14 October, which will gather UK leaders, high-profile investors and businesses from across the world to deepen our partnership to drive investment and growth.    

    It also comes as the Prime Minister today convenes the first Council of the Nations and Regions, delivering on a manifesto promise to rewire the way UK Government operates. Focussed on investment and growth, the Council will see First Ministers and Deputy First Minister from the Devolved Governments come together with regional mayors to collaborate and seize opportunities to secure long-term investment and boost growth. The agenda, agreed with attendees, includes discussion on how to boost growth and inward investment across the UK, including through an industrial strategy and the Investment Summit.    

    The Prime Minister will also hold bilateral meetings and a joint meeting with the Devolved Government First Ministers and Deputy First Minister focussed on supporting intergovernmental relations as we continue to reset our relationship and work together to deliver for people across the UK.     

    Today’s investments include:    

    • Iberdrola doubling their investment in the UK, through Scottish Power, from £12bn to £24bn over the next 4 years, which includes £4bn for the East Anglia 2 wind farm off the Suffolk coast which was unlocked by this Government’s expanded allocation at the most recent wind auction round. Iberdrola Executive Chairman Ignacio Galan has also today confirmed that the UK has become their largest Investment destination.
    • Orsted and Greenvolt confirming that the Government’s recent expanded offshore wind auction means their projects will unlock £8bn (Orsted) and £2.5bn (Greenvolt) of investment respectively in their planned offshore wind farms. Orsted says its commitment will see thousands of jobs for local people, while Greenvolt says it will create up to 2800 construction jobs.
    • SeAH Wind has made an additional £225 million investment into wind technology manufacturing in Teesside, thanks to new backing from UK Export Finance, which expects to create 750 direct jobs by 2027. This brings their total investment into the site at Teesworks up to £900 million and will help them make their ongoing factory build – one of the biggest facilities of its kind worldwide – even bigger.
    • Macquarie supporting investment of £1.3bn into new green infrastructure including its Island Green Power solar farm in Stow, as a result of planning consents having been granted by the Government, and its Roadchef portfolio company installing electric car ultra-fast charging points across its sites along the UK motorway network.
    • BW Group proceeding with a £300m investment into a new battery energy storage project in Birmingham.
    • Holtec, a major US advanced nuclear engineering company, has confirmed a significant investment of £325 million in a new factory in South Yorkshire which will supply materials for Hinkley Point C and likely Sizewell C power stations. They say this will create up to 490 direct and 280 indirect jobs annually during the construction phase and 1,200 direct engineering jobs created over 20 years.     

    Mads Nipper, CEO of Ørsted A/S said:    

    The reason we are investing in the UK is that alongside the targets for clean energy, we also see the commitment to creating the policy frameworks required to deliver those targets and a government who wants to work with businesses to enable the investments required.

    Lord Nicol Stephen, Chief Executive of Flotation Energy said:  

    Green Volt is a trailblazing, multibillion pound floating offshore wind project which will kickstart jobs and investment by companies right across the UK offshore supply chain. The choice of our HQ in Aberdeen is clear evidence of our strong commitment to support local jobs and businesses wherever possible.

    Chris Sohn, Chief Executive of SeAH Wind, said:    

    With the proactive support of UKEF, our project is progressing smoothly. As we approach the completion of the factory construction, we are committed to ensuring its successful finalization. We aim to become the first monopile manufacturing company in the UK and make a significant contribution to the UK economy.

    Andreas Sohmen-Pao, Chairman of BW Group, said:     

    BW Group is delighted to announce that its subsidiary BW ESS intends to shortly begin construction on two large battery projects in the Midlands – Hams Hall and Berkswell – with a combined capacity of 600 MW. These projects represent a major step forward in enhancing the UK’s energy infrastructure and supporting the transition to renewables.

    I am encouraged by the UK government’s commitment to the clean energy transition and our announcement today highlights BW Group’s commitment to strengthening our presence in the UK and contributing to the growth of the clean energy sector.

    Shemara Wikramanayake, Chief Executive Officer of Macquarie Group, said:   

    We believe that infrastructure investment helps create strong foundations for economic growth, job creation, better services for the public and stronger communities. We are fully invested in the UK’s success and look forward to playing our part in delivering the investment the country needs.

    Dr Rick Springman, Holtec’s President of Global Clean Energy Opportunities, said:   

    Holtec has been part of the UK’s nuclear fabric for over 30 years. We recognise the UK’s long-term commitment to nuclear energy to drive forward government missions on clean energy and economic growth.

    Our planned advanced manufacturing factory in South Yorkshire will bring thousands of skilled, highly-paid engineering jobs to the region while supporting tens of thousands more in the UK’s wider manufacturing supply chains.

    The potential size of the prize of this investment is significant. Depending on future SMR order books it could open up a £30bn export market over ten years adding billions of pounds to the UK economy. Over the coming months Holtec will be finalising its full factory plans and designs based on its UK and international order book.

    This follows the announcement earlier this week that up to 500 UK manufacturing jobs are set to be supported as bus operator Go Ahead confirms a major £500 million investment to decarbonise its fleet including. This includes creating a new dedicated manufacturing line and partnership with Northern Ireland-based UK bus manufacturer Wrightbus.    

    Yesterday, the Department for Energy Security & Net Zero gave the green light for a new scheme to help unlock billions in investment in energy storage infrastructure. This could see the first significant long duration energy storage facilities in nearly 4 decades, helping to create back up renewable power and bolster the UK’s energy security.    

    And it also builds on the Government confirming funding to launch the UK’s first carbon capture sites in Teesside and Merseyside. Two new carbon capture and CCUS enabled hydrogen projects will create 4,000 new jobs, in a boost for the economy and British industry, helping remove over 8.5 million tonnes of carbon emissions each year – the equivalent of taking around 4 million cars off the road.

    Updates to this page

    Published 10 October 2024

    MIL OSI United Kingdom –

  • MIL-OSI: Cohen Circle Acquisition Corp. I Announces Pricing of $200,000,000 Initial Public Offering

    Source: GlobeNewswire (MIL-OSI)

    PHILADELPHIA, PA, Oct. 10, 2024 (GLOBE NEWSWIRE) — Cohen Circle Acquisition Corp. I (NASDAQ:CCIRU) (the “Company”) today announced the pricing of its initial public offering of 20,000,000 units at a price of $10.00 per unit. The Company’s units will be listed on the Nasdaq Global Market under the symbol “CCIRU” and will begin trading on October 11, 2024. Each unit issued in the offering consists of one Class A ordinary share of the Company and one-third of one redeemable warrant, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on NASDAQ under the symbols “CCIR” and “CCIRW,” respectively. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. The closing of the offering is anticipated to take place on or about October 15, 2024, subject to customary closing conditions.

    Cantor Fitzgerald & Co. is serving as the sole book-running manager for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 3,000,000 units at the initial public offering price to cover over-allotments, if any. 

    The Company is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company may pursue an acquisition opportunity in any business or industry or at any stage of its corporate evolution. The Company’s primary focus, however, will be to identify companies in the financial services technology (fintech) sector and fintech adjacent sectors that power transformation and innovation. The Company is sponsored by Cohen Circle, LLC, and the management team is led by Betsy Z. Cohen, its Chairman of the Board of Directors, President and Chief Executive Officer.

    A registration statement relating to the units and the underlying securities was declared effective by the Securities and Exchange Commission on October 10, 2024. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

    The offering is being made only by means of a prospectus, copies of which may be obtained by contacting Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Avenue, 5th Floor, New York, New York 10022, email: prospectus@cantor.com. Copies of the registration statement can be accessed for free through the SEC’s website at http://www.sec.gov.

    This press release contains statements that constitute “forward-looking statements,” including with respect to the initial public offering. No assurance can be given that such offering will be completed on the terms described, or at all. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and preliminary prospectus for the offering filed with the Securities and Exchange Commission. The Company undertakes no obligation to update these statements for revisions or changes after the date of this press release, except as required by law.

    Contact Information:

    Cohen Circle Acquisition Corp. I
     info@cohencircle.com

    The MIL Network –

  • MIL-OSI Economics: Jordan — IMF Staff Conclude Article IV Discussions and Reach Staff Level Agreement on the Second Review under the Extended Fund Facility

    Source: International Monetary Fund

    October 10, 2024

    End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF’s Executive Board for discussion and decision.

    • IMF staff and the Jordanian authorities have reached a staff level agreement on the second review under the Extended Fund Facility (EFF). All commitments for the second review under the program have been met, demonstrating the authorities’ steadfast commitment to sound macro-economic policies and continued progress on reforms.
    • Jordan continues to show resilience and maintain macro-economic stability, despite the headwinds caused by the intensifying conflict in the region. Jordan’s economy is expected to grow by 2.3 percent in 2024 and 2.5 percent in 2025. However, strong and timely international support remains important to help Jordan face the external headwinds, and to continue to shoulder the cost of hosting a large number of Syrian refugees.
    • Bringing the Jordanian economy onto a higher growth trajectory is essential to create more jobs and raise prosperity. This requires accelerating structural reforms, while maintaining macro-economic stability, and making significant progress in implementing the authorities’ Economic Modernization Vision.

    Amman: A staff team from the International Monetary Fund (IMF), led by Ron van Rooden, visited Amman during September 30–October 10, 2024, for discussions on the 2024 Article IV consultation and the second review under the arrangement under the IMF’s Extended Fund Facility (EFF), which was approved by the IMF’s Executive Board on January 10, 2024 (Press Release).

    At the conclusion of the mission, Mr. van Rooden issued the following statement:

    “We are pleased to announce that the IMF team and the Jordanian authorities reached a staff-level agreement on the second review of the authorities’ economic reform program supported by the EFF arrangement, approved in January of this year. Program performance continues to be strong, despite a challenging external environment. All quantitative performance criteria and structural benchmarks for the second review were met and steady progress is being made toward achieving the program’s overall objectives, including good progress toward meeting benchmarks for future reviews. The agreement is subject to approval by the IMF’s management and the Executive Board. The completion of this review will make another SDR 97.784 million (about US$131 million) available, out of the previously approved program size of SDR 926.370 million (about US$1.2 billion).  

    “Jordan continues to show resilience and maintain macro-economic stability, despite the headwinds caused by the intensifying conflict in the region. This resilience is the result of the authorities’ continued pursuit of sound macro-economic policies and reform progress. The recent upgrades to Jordan’s credit ratings, the first in over 20 years, testify to the credibility of the authorities’ economic policies.

    “Nonetheless, as the conflict continues and widens, it is having a larger impact on Jordan’s economy than anticipated at the outset of the program. The economy is projected to grow by 2.3 percent this year, with weaker domestic demand offset by a stronger performance in net exports. Growth is projected at 2.5 percent for 2025. Inflation remains low, at 2 percent, thanks to the Central Bank of Jordan’s (CBJ) firm commitment to monetary stability and safeguarding the exchange rate peg. The financial sector remains healthy and well capitalized. The current account deficit is projected to narrow to 4.4 percent of GDP this year, helping to further build the CBJ’s reserve buffers, and to widen slightly to 4.7 percent of GDP in 2025.

    “Government revenues have been adversely affected this year by the weaker domestic demand, as well as a sharper-than-expected drop in the prices of key export commodities. The authorities have taken strong actions to offset the revenue shortfall to contain this year’s central government budget deficit. With this, the authorities are committed to limit this year’s central government primary deficit (excluding grants and transfers to public utilities) to 2.9 percent of GDP, up slightly from 2.7 percent of GDP in 2023. Together with measures taken to limit the operational losses of the utility companies and continued surpluses of the social security system, the overall general government primary deficit (excluding grants) is expected to remain broadly unchanged this year, at 1.3 percent of GDP, compared to 1.4 percent in 2023, and public debt to be contained at just over 90 percent of GDP by end-2024.

    “The authorities are firmly committed to continue to implement sound macro-economic policies to maintain stability and to advance structural reforms needed to further strengthen the resilience of Jordan’s economy and to improve people’s living standards, as envisaged also in their Economic Modernization Vision. Notably, fiscal policy aims to reduce public debt to 80 percent of GDP by 2028 to ensure fiscal sustainability, by advancing a gradual fiscal consolidation, including limiting the central government primary deficit (excluding grants and transfers to the public utilities) to 2 percent of GDP in 2025. With further efforts to improve the finances of the public utilities and continued surpluses of the social security system, the overall general government primary deficit (excluding grants) will be reduced by 1.1 percent of GDP to 0.2 percent of GDP. The CBJ’s monetary policy will continue to be underpinned by its firm commitment to the exchange rate peg to the US dollar and to maintain low inflation, and the CBJ stands ready to undertake policy adjustments as necessary to credibly safeguard monetary and financial stability.

    “The authorities are determined to step up the pace of structural reforms to achieve stronger growth and generate more jobs, which is particularly important given that unemployment remains high, particularly among the youth and women. Reforms will focus on improving the business environment, to attract more investment, by enhancing competition and labor market flexibility, while further strengthening the social safety net. Efforts will also focus on streamlining regulation and digitalization of government services, including tax and customs administration.  

    “The staff team is grateful to the authorities for the candid and constructive discussions. The team met with Prime Minister Hassan, Minister of Finance Shibli, Minister of Planning and International Cooperation Toukan, Minister of Economic Affairs Shehadeh, Governor of the Central Bank of Jordan Al-Sharkas; and other Ministers and senior government and CBJ officials.”

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Angham Al Shami

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    @IMFSpokesperson

    MIL OSI Economics –

  • MIL-OSI: Pieridae to Hold Conference Call and Webcast to Discuss Third Quarter 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN UNITED STATES

    CALGARY, Alberta, Oct. 10, 2024 (GLOBE NEWSWIRE) — Pieridae Energy Limited (“Pieridae” or the “Company”) (TSX: PEA) will release its financial and operating results for the third quarter 2024, on Wednesday, November 6, 2024, after markets close.

    President & Chief Executive Officer Darcy Reding and Chief Financial Officer Adam Gray will discuss the financial results and company developments on an investor conference call and webcast on Thursday, November 7, 2024, at 8:30 a.m. MST / 10:30 a.m. EST.

    To register to participate via webcast please follow this link:

    https://edge.media-server.com/mmc/p/x7jqdags

    Alternatively, to register to participate by telephone please follow this link:

    https://register.vevent.com/register/BI1c44d36dab364545b0c536614eb099d8

    A replay of the webcast will be available two hours after the conclusion of the event and may be accessed using the webcast link above.

    ABOUT PIERIDAE

    Pieridae is a Canadian energy company headquartered in Calgary, Alberta. The Company is a significant upstream producer and midstream custom processor of natural gas, natural gas liquids, condensate, and sulphur from the Canadian Foothills and adjacent areas in Alberta and in northeast British Columbia. Pieridae’s vision is to provide responsible, affordable natural gas and derived products to meet society’s energy security needs. Pieridae’s Common Shares trade on the TSX under the symbol “PEA”.

    For further information, visit http://www.pieridaeenergy.com, or please contact:

    Darcy Reding, President and Chief Executive Officer
    Telephone: (403) 261-5900    		 Adam Gray, Chief Financial Officer
    Telephone: (403) 261-5900
       
    Investor Relations
    investors@pieridaeenergy.com    		  

    The MIL Network –

  • MIL-OSI Global: ‘Cajun Navy’ volunteers who participate in search-and-rescue operations after hurricanes are forming long-lasting organizations

    Source: The Conversation – USA – By Kyle Breen, Assistant Professor of Sociology, Texas A&M International University

    Volunteers with Savage Freedoms Relief Operation coordinates aid in Swannanoa, on Oct. 7, 2024, after Hurricane Helene severely damaged the North Carolina town. Allison Joyce/AFP via Getty Images

    The volunteers who take part in search-and-rescue operations and then support disaster survivors belong to organizations that have become more formal and established over the past decade. That’s what we found after spending more than four years volunteering alongside eight of these groups to better understand their role and the motivations of the people who participate in these efforts.

    We did this research as part of a larger team of sociologists, an urban planning scholar and emergency management specialists. All of us worked alongside civilian volunteer search-and-rescue groups from Louisiana and Texas between 2017 and 2022 during and after many hurricanes, including Harvey and Laura, the winter storm known as Uri and other major disasters.

    While we volunteered with these organizations, we observed them in action and interviewed their leaders and volunteers to learn why they were making the time and taking personal risks to save others. Many cited their personal values, expressed their need to belong to a group, and said it had helped them find a sense of purpose. Others shared that they were motivated by their personal circumstances and experiences or feelings of guilt, or that this kind of volunteering gave them a deep sense of satisfaction.

    “I lost everything I owned in Katrina. They deemed my family’s property uninhabitable,” said a boater we’ll call Dylan to protect his anonymity. “I can’t sit here after knowing what it is to lose everything.”

    Some volunteers said that one reason why they have repeatedly done this work is to counter stereotypes about people who engage in these efforts. When he’s heard people say, “Oh you’re just out there, doing it for the spotlight,” said Roger, he told us he wants to respond by saying, “Yeah, dude. If you flood, call me, I’ll come get you.”

    While the organizations we researched were based in Louisiana and Texas, the volunteers who participate in these efforts come from across the U.S. and, in some cases, other countries. One volunteer we met was from the United Kingdom.

    After Hurricane Helene destroyed roads in western North Carolina, rescue squads delivered aid by donkey and helicopter.

    Why it matters

    Since Hurricane Katrina struck the Gulf Coast in 2005, volunteers have been participating in search-and-rescue efforts after big disasters – especially in that region. But these volunteers come from all over.

    Many of these groups are known as “Cajun Navy” organizations. Whether or not these organizations use the Cajun Navy branding in their names they share, a common mission of helping others in emergencies.

    These volunteers aren’t just operating boats and helicopters. Others serve as dispatchers, handle logistics, and run social media operations.

    Over time, some of the organizations have begun to team up with local emergency responders, signing memorandums of understanding with them. They partner with government agencies while assisting in disaster response and relief efforts, but they primarily operate with autonomy and are able to travel where they perceive the need is greatest.

    This kind of group tends to dissolve after a disaster is over, instead of evolving into an established nonprofit.

    But many of the eight groups we studied have become nonprofits or are in the process of doing so.

    How we do our work

    We were able to do this research by becoming volunteers ourselves. We took part in dispatch operations on the ground and remotely, and we supported logistics planning. We also observed and, in some cases, participated in search-and-rescue training and operations in the water and on land.

    The Research Brief is a short take about interesting academic work.

    Kyle Breen received funding from the National Science Foundation for this research. He currently holds funding from the Social Sciences and Humanities Research Council of Canada and the Canadian Institutes of Health Research for other research projects.

    J. Carlee Purdum received funding from The National Science Foundation for this research and for other ongoing projects.

    – ref. ‘Cajun Navy’ volunteers who participate in search-and-rescue operations after hurricanes are forming long-lasting organizations – https://theconversation.com/cajun-navy-volunteers-who-participate-in-search-and-rescue-operations-after-hurricanes-are-forming-long-lasting-organizations-240769

    MIL OSI – Global Reports –

  • MIL-OSI USA: Warren, Wyden, Porter Call on Treasury, IRS to Improve Direct File by Ending Reliance on ID.me, Making Identity Verification Secure and Accessible

    US Senate News:

    Source: United States Senator for Massachusetts – Elizabeth Warren
    October 09, 2024
    “[Taxpayers] should not be forced to jump through extra, onerous, hoops that private tax prep companies are not required to meet.”
    Text of Letter (PDF)
    Boston, MA – U.S. Senators Elizabeth Warren (D-Mass.), a member of the Senate Finance Committee, Ron Wyden (D-Ore.), Chair of the Senate Finance Committee, and Representative Katie Porter (D-Calif.) wrote to the Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) urging the agencies to make the Direct File tax filing program more accessible by ending reliance on ID.me, which uses a flawed facial recognition software.
    When Direct File, the first free, public, electronic federal tax filing tool in U.S. history, launched, the IRS announced that taxpayers would need to submit to identity verification through ID.me because it met the IRS’ desired level of strictness, “Identity Assurance Level 2” (IAL 2). IAL 2 is the middle of three “levels” of national identity verification standards, and requires an applicant’s face to be compared to a government ID using facial recognition software or by a human. But the facial recognition technology used by ID.me has been shown to be less accurate when dealing with vulnerable groups, including individuals of color, and has been linked to wrongful arrests of black men. This heightened identity verification is required for the Direct File service and not for commercial tax preparation services. 
    “Requiring them to use ID.me is creating yet another needless barrier to exactly these taxpayers who need Direct File most to claim tax benefits, as it has been with other government benefits,” wrote the lawmakers. 
    Private tax preparation companies are not judged against IAL standards but operate at the equivalent of a level 1 by just having users simply assert their identity.  The private tax preparation companies have also egregiously misused private taxpayer information, and Direct File allows taxpayers the option to not give their money and personal information to private companies when filing their taxes. Login.gov, a government-run identity verification alternative, is expected to be compliant with existing IAL 2 standards, making it available for the 2025 tax season. 
    The IRS’ current approach to security does not make sense. 
    “If the threat posed by identity thieves and fraudsters is severe enough to warrant requiring taxpayers to submit to identity verification…then the IRS should require such security protections, across the board, regardless of whether taxpayers use Direct File, commercial services like TurboTax and H&R Block…,” the lawmakers continued. “Alternatively, if the threat posed by identity thieves is not serious enough for the IRS to require commercial tax prep companies to implement burdensome identity verification, then taxpayers using Direct File should not be required to do so either.” 
    The 2024 Direct File pilot was a clear and resounding success, helping taxpayers claim over $90 million in tax refunds and saving taxpayers $5.6 million in estimated filing fees. The IRS recently announced that it will expand service to 24 states and over 30 million taxpayers for the 2025 tax season. In order to keep Direct File serving taxpayers effectively, the lawmakers requested answers from the Treasury and the IRS about the impact of ID.me on taxpayers’ access to Direct File and potential alternatives to ID.me by October 21, 2024. 
    Senator Warren has been at the forefront of holding tax prep firms and Big Tech accountable for their behavior, and pushed for an effective IRS direct free file program:
    In June 2023, Senators Warren and Carper and Representatives Sherman, Porter, and Beyer led a coalition of 99 Democratic lawmakers in sending a letter to Internal Revenue Service (IRS) Commissioner Daniel Werfel and Deputy Treasury Secretary Adewale Adeyemo, applauding the IRS’ announcement of a pilot  of a free tax filing tool next year. 
    In April 2023, Senators Warren and Carper led their colleagues in sending a letter to IRS Commissioner Daniel Werfel urging the agency to simplify the tax process and broaden access to free e-filing options.
    In April 2023, at a hearing of the Senate Finance Committee, Senator Warren questioned Internal Revenue Service (IRS) Commissioner Daniel Werfel about the IRS’s failed Free-File partnership with private tax preparation software companies and called on the agency to implement a direct E-File program that will be truly free and easy for millions of Americans. 
    Commission Werfel agreed with Senator Warren that the gap between the 70% of taxpayers that Free File is supposed to serve and the 2% it actually does is “massive.”  When Senator Warren pointed out that tax prep companies are instead pushing alternative services that should be free, are marketed as free, but are not, Commissioner Werfel also agreed that “the whole process needs to be improved,” that taxpayer rights have been violated, and the IRS has an obligation to make “the tax system easier for taxpayers to navigate.”

    In March 2023, Senators Warren and King wrote a letter with 19 other senators to the Internal Revenue Service and Secretary Yellen expressing strong support for Secretary Yellen’s directive for the IRS not to raise audit rates for small businesses or households making under $400,000 annually. 
    In December 2022, Senators Warren and Wyden, along with Representatives Porter and Sherman sent letters to tax preparation companies H&R Block, TaxAct, and TaxSlayer, plus big tech firms Meta, and Google, amid reports that the tax preparation companies have been secretly transmitting individual taxpayers’ sensitive financial information to Meta and Google.
    In July 2022, Senator Warren led 22 of her colleagues in introducing the Tax Filing Simplification Act of 2022 to simplify the tax filing process for millions of Americans by lowering costs, eliminating red tape for all taxpayers, and saving them hours and hundreds of dollars. 
    During an exchange of the United States Senate Finance Committee in June 2022, U.S. Treasury Secretary Janet Yellen agreed with Senator Warren on the need to create a free tax filing system that actually works for Americans.

    MIL OSI USA News –

  • MIL-OSI Security: FBI San Francisco Releases Local Data from 2023 Cryptocurrency Fraud Report

    Source: Federal Bureau of Investigation (FBI) State Crime News

    With Cybersecurity Awareness Month in full swing, the FBI urges the public to stay vigilant

    The FBI’s 2023 Cryptocurrency Fraud Report reveals that California experienced the highest cryptocurrency-related losses in the nation, totaling $1.15 billion. Within the FBI San Francisco Field Office’s territory, losses amounted to $260,313,902, with 1,226 victims across 15 counties, including Alameda, San Francisco, and Santa Clara. Nationally, the FBI’s Internet Crime Complaint Center received more than 69,000 complaints from the public regarding cyber-enabled crime and financial fraud involving the use of cryptocurrency, with over $5.6 billion in reported losses.

    Criminal actors exploit cryptocurrencies for all schemes, to include tech support, confidence and romance, investment and government impersonation scams. Investment fraud was the most reported cryptocurrency scheme in 2023, and also saw the most reported losses, with about $3.9 billion lost.

    “Cryptocurrency’s rapid adoption has made it a prime target for fraudsters,” said Special Agent in Charge Robert Tripp. “We urge the public to stay vigilant and to report any suspected fraud to the FBI through the Internet Crime Complaint Center at ic3.gov.”

    FBI San Francisco encourages the public to submit reports of fraud, or suspected fraud, through ic3.gov, even if a financial loss did not occur.

    Below are some tips to protect yourself from cryptocurrency schemes:

    • Criminals will seek to instill a sense of urgency and isolation.
    • When receiving an unsolicited call by an unknown caller claiming to work for a well-known company or government agency, hang up, independently research the company or agency’s publicly published phone number and call it to confirm authenticity of the original call.
    • No legitimate law enforcement or government official will call to demand payment via a cryptocurrency kiosk.
    • Never give personally identifying information to anyone without verifying the person is who they say they are.
    • Verify the validity of any investment opportunity strangers or long-lost contacts offer on social media websites. If you have never met an individual in real life, be very cautious of accepting investment advice or opportunities.
    • Be on the lookout for domain or website names that impersonate legitimate financial institutions, especially cryptocurrency exchanges.
    • Fraudulent businesses often use website addresses that mimic real financial institutions, but are often slightly different, to convince people the fraudulent website is legitimate.
    • Do not download or use suspicious-looking apps as a tool for investing unless you can verify the legitimacy of the app.
    • If an investment opportunity sounds too good to be true, it likely is. Be cautious of get-rich-quick schemes.

    If you believe you are a victim of fraud or someone you know—regardless of financial loss—and you are not under imminent threat, please report the fraud to FBI’s Internet Crime Complaint Center at ic3.gov or call FBI San Francisco at (415) 553-7400.

    View the full 2023 Cryptocurrency Fraud Report. 

    For more information or media inquiries, email Media.sf@fbi.gov.

    MIL Security OSI –

  • MIL-OSI USA: Kaptur Announces Over $3 Million in New Federal Funding for NW Ohio Fire Departments

    Source: United States House of Representatives – Congresswoman Marcy Kaptur (OH-09)

    Toledo, Ohio – Today, during National Fire Prevention Week, Congresswoman Marcy Kaptur (OH-09), a senior Member of the House Appropriations Committee and of the House Fire Caucus announced $3,052,523 in critical federal funding she helped to secure. The Department of Homeland Security (DHS) and Federal Emergency Management Agency (FEMA) Assistance to Firefighter Grant (AFG) and Staffing for Adequate Fire and Emergency Response (SAFER) programs will award 9 Fire Departments across Northwest Ohio new funding to ensure that first responders have the resources and manpower they need to protect local communities. These awards will provide essential funding for equipment, protective gear, vehicle acquisition, hiring, and training, enabling fire department to respond more effectively to emergencies and keep both the public and our emergency personnel safe.

    The 9 Fire Departments in Northwest receiving AFG and SAFER funding are:

    • Village of Sherwood Volunteer Fire Department – $75,428
      • The AFG funds will help the Village of Sherwood Volunteer Fire Department in Defiance County to afford operations and safety improvements, including the purchase of 8 new Self Contained Breathing Apparatuses (SCBA’s) and replace outdated ones.
    • City of Wauseon Fire Department – $53,522
      • The AFG funds will allow the City of Wauseon in Fulton County to purchase a Three Drop Source Capture Exhaust System that will help ensure all Fire Apparatus can utilize the system when parked in the bay. This will minimize their staff’s exposure to cancer causing exhaust contaminants. The City of Wauseon share of the cost is $2,676.14.
    • Village of Whitehouse Fire Department – $294,214
      • The AFG funds will be used by the Village of Whitehouse in Lucas County to upgrade operations and safety with new Self Contained Breathing Apparatuses (SCBA’s).
    • City of Vermilion Volunteer Fire Department – $302,182
      • The AFG funds will be used by the City of Vermillion in Erie County to upgrade operations and safety by replacing outdated air packs for firefighters to better and more safely protect residents
    • Village of Kelleys Island Volunteer Fire Department – $75,361
      • The AFG funds will be used by the Village of Kelleys Island in Erie County for operations and equipment, and will replace aged firehose, handline nozzles, and an additional ground monitor. This equipment will not only be an upgrade, but it will be major upgrades that meet current standards replacing outdated hoses that are 20-30 years old, many of which were donated by other fire departments.
    • City of Huron Fire Department – $135,523
      • The AFG funds will be used by the City of Huron in Erie County to replace bunker gear for the entire department. This will ensure the department is compliant with safety and equipment upgrades.
    • Monclova Township Fire Department – $1,013,046
      • The SAFER funds will be used by Monclova Township in Lucas County for the hiring of additional full-time firefighters for their department, including wages and benefits.
    • Village of Oak Harbor, Portage Fire District – $163,428
      • The AFG funds will be used by the Village of Oak Harbor in Ottawa County for operations and safety improvements and upgrades, including the replacement of soon to be outdated Self Contained Breathing Apparatuses (SCBA’s).
    • City of Northwood Fire Department – $939,819
      • The SAFER funds will be used by the City of Northwood in Wood County for the hiring of 3 additional full-time firefighters for their department, including wages and benefits.

    “Our firefighters and first responders are the ones on the frontlines, running toward danger when others are running in the other direction. They deserve nothing less than the best tools and training to stay safe while protecting our communities,” said Congresswoman Kaptur (OH-09). “This funding will give them exactly that — critical gear, better pay, new vehicles, and equipment upgrades to better protect them as they respond to emergencies and safeguard lives across Northwest Ohio.”

    “With the purchase of the SCBA’s this promotes safety for the public and especially for our firefighters by getting equipment we could not afford to replace. SCBA’s are one of the most essential tools of personal protection for the fire rescue personnel, and will allow them to operate more efficiently,” said Village of Sherwood Fire Chief Darrel Rock.

    “This additional Three Drop Source Capture System ensures that all Wauseon Fire Apparatus can utilize the system when parked in the apparatus bay, therefore, minimizing the exposure our staff have to cancer causing exhaust contaminants. It is important that when our staff come to work, they are provided with a work environment that minimizes any negative exposure that could harm them or be taken home to their families,” said Wauseon Fire Chief Phil Kessler.  “The Assistance to Firefighter Grant Program is extremely important to fire departments across the nation. These funds allow us to invest in our staff, the infrastructure and most importantly the community. Most departments would not be able to procure many of these much-needed items.”

    “The Assistance to Firefighters Grant significantly benefits The Village of Whitehouse by providing funds to upgrade Self-Contained Breathing Apparatuses. This upgrade will impact Whitehouse and surrounding areas by improving Firefighter Safety, embracing new technology, and ensuring operational readiness including mutual aid responses,” said Whitehouse Fire Chief Jason Francis. “As funding is challenging for some communities, this award allows us to replace our outdated equipment that would have been challenging based on our current financial situation.”

    “Congresswoman Kaptur’s FEMA Assistance to Firefighters Grant of $302,182  for the City of  Vermilion Volunteer Fire Department was a true game changer for our community,” said Vermillion Mayor Jim Forthofer. “It allows us to replace the outdated air packs to protect our firefighters as they protect our residents. It also releases funds back to the general community for other worthy purposes. Congresswoman Kaptur is a real friend of Vermilion, especially its first responders”

    “Absolutely, we were very fortunate to receive the funding and it is a financial game-changer for the City,” said Vermillion Fire Chief William H. Brown.

    “First of all, I must express our appreciation of this award from not only from our fire department but also our community as a whole. Our community presents itself with unique fire suppression challenges,” said Kelleys Island Assistant Fire Chief Charles Ehrbar. “We are on Kelleys Island on Lake Erie with a little over 120 year-round residences but our summertime population can near 5,000. We have a roster of only 17 volunteer firefighters. The area of the island is approximately 2 miles by 4 miles. We are now experiencing an influx of new builds of larger and taller residential and commercial structures. Being on an island that is accessed only by ferry and aircraft, in the event of a fire incident, our mutual aid is at best one and a half hours for response, if they can respond at all. That being said, we are on our own and must make the best of any situation. This new and updated equipment gives us an advantage of technology and dependability that we certainly did not have prior to this award.”

    “This grant has allowed us to continue serving the citizens and businesses of our service area along with assisting other surrounding fire departments,” said Portage Fire Chief Antonio Hand.

    These new funding announcements follow a $671,428 award for Ney-Washington Township in August 2024, a $952,380 award to the City of Defiance in July 2023, and a $110,014.28 award to the City of Wauseon in June 2023 all secured through FEMA’s AFG program.

    The Assistance to Firefighters Grant program, established in 2001, provides funding to meet the needs of fire departments and non-affiliated emergency medical service organizations. AFG awards are designed to help these agencies obtain the necessary resources to protect the public and emergency personnel from fire-related hazards. In fiscal year 2023 alone, FEMA distributed 1,616 AFG awards, totaling $289.2 Million.

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