Category: Economy

  • MIL-OSI: TC Energy provides results of Series 3 and Series 4 conversion elections

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, June 23, 2025 (GLOBE NEWSWIRE) — News Release – TC Energy Corporation (TSX:TRP) (NYSE:TRP) (TC Energy or the Company) today announced that 104,778 of its 9,997,177 fixed rate Cumulative Redeemable First Preferred Shares, Series 3 (Series 3 Shares) have been elected for conversion on June 30, 2025, on a one-for-one basis, into floating rate Cumulative Redeemable First Preferred Shares, Series 4 (Series 4 Shares); and 1,822,829 of its 4,002,823 Series 4 Shares have been elected for conversion, on a one-for-one basis, into Series 3 Shares.

    As a result of the conversions, TC Energy will have 11,715,228 Series 3 Shares and 2,284,772 Series 4 Shares issued and outstanding. The Series 3 Shares and Series 4 Shares will continue to be listed on the Toronto Stock Exchange (TSX) under the symbols TRP.PR.B and TRP.PR.H, respectively.

    The Series 3 Shares will pay on a quarterly basis for the five-year period beginning on June 30, 2025, as and when declared by the Board of Directors of TC Energy, a fixed dividend at an annualized rate of 4.102 per cent.

    The Series 4 Shares will pay a floating rate quarterly dividend for the five-year period beginning on June 30, 2025, as and when declared by the Board of Directors of TC Energy. The dividend rate for the Series 4 Shares for the first quarterly floating rate period commencing June 30, 2025 to but excluding Sept. 29, 2025 is 3.924 per cent and will be reset every quarter.

    Holders of Series 3 Shares and Series 4 Shares will have the opportunity to convert their shares again on July 2, 2030 (adjusted from June 30, 2030 to account for applicable business days) and on June 30 in every fifth year thereafter as long as the shares remain outstanding. For more information on the terms of, and risks associated with an investment in the Series 3 Shares and the Series 4 Shares, please see the prospectus supplement dated March 4, 2010 which is available on sedarplus.ca or on our website.

    About TC Energy
    We’re a team of 6,500+ energy problem solvers connecting the world to the energy it needs. Our extensive network of natural gas infrastructure assets is one-of-a-kind. We seamlessly move, generate and store energy and deliver it to where it is needed most, to homes and businesses in North America and across the globe through LNG exports. Our natural gas assets are complemented by our strategic ownership and low-risk investments in power generation.

    TC Energy’s common shares trade on the Toronto (TSX) and New York (NYSE) stock exchanges under the symbol TRP. To learn more, visit us at TCEnergy.com.

    FORWARD-LOOKING INFORMATION
    This release contains certain information that is forward-looking and is subject to important risks and uncertainties (such statements are usually accompanied by words such as “anticipate”, “expect”, “believe”, “may”, “will”, “should”, “estimate”, “intend” or other similar words). Forward-looking statements in this document are intended to provide TC Energy security holders and potential investors with information regarding TC Energy and its subsidiaries, including management’s assessment of TC Energy’s and its subsidiaries’ future plans and financial outlook. All forward-looking statements reflect TC Energy’s beliefs and assumptions based on information available at the time the statements were made and as such are not guarantees of future performance. As actual results could vary significantly from the forward-looking information, you should not put undue reliance on forward-looking information and should not use future-oriented information or financial outlooks for anything other than their intended purpose. We do not update our forward-looking information due to new information or future events, unless we are required to by law. For additional information on the assumptions made, and the risks and uncertainties which could cause actual results to differ from the anticipated results, refer to the most recent Quarterly Report to Shareholders and Annual Report filed under TC Energy’s profile on SEDAR+ at www.sedarplus.ca and with the U.S. Securities and Exchange Commission at www.sec.gov.

    -30-

    Media Inquiries:
    Media Relations
    media@tcenergy.com
    403-920-7859 or 800-608-7859

    Investor & Analyst Inquiries:
    Gavin Wylie / Hunter Mau
    investor_relations@tcenergy.com
    403-920-7911 or 800-361-6522

    PDF available: http://ml.globenewswire.com/Resource/Download/6554a6c4-a979-42f6-9a7c-a0e5afc39774

    The MIL Network

  • MIL-OSI Russia: Financial News: In Almost Half of Russian Regions, Price Growth in May Was Nearly 4% Year-On-Year

    Translation. Region: Russian Federal

    Source: Central Bank of Russia –

    In 59 of 85 Russian regions, prices in May rose less than in April, and in 6 regions they fell. According to the Bank of Russia, in 41 regions, the price increase, excluding seasonality, was close to 4% or lower on an annualized basis.

    The growth of food prices has slowed in 49 regions. Fruit and vegetable products and sugar have become noticeably cheaper, and the prices of pasta and cereals have continued to decline.

    Non-food products fell in price in 41 regions, with the biggest decline being in the price of appliances and electronics.

    The rate of price growth has decreased most noticeably in the services sector. Price dynamics have slowed in 65 regions, mainly due to transport services.

    According to Rosstat, annual inflation in Russia fell to 9.9% in May. In the vast majority of regions (66), it also slowed down. The Bank of Russia will continue to reduce inflation, maintaining high rates in the economy. According to our forecast, annual inflation will return to 4% in 2026.

    For more information on inflation in each region, seeinformation and analytical materials, published on the website of the Bank of Russia.

    Preview photo: Mariia Orlovskaya / Shutterstock / Fotodom

    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 access to What the Source Is Stating and Does Not Reflect

    HTTPS: //VVV.KBR.ru/Press/Event/? ID = 24722

    MIL OSI Russia News

  • MIL-OSI Russia: The government will allocate over 33 billion rubles to create university campuses in a number of regions

    Translation. Region: Russian Federal

    Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

    Order dated June 9, 2025 No. 1479-r

    In 2025–2027, more than 33 billion rubles will be allocated from the federal budget to a number of regions to create a network of modern university campuses as part of the new national project “Youth and Children”. The order on the distribution of these funds was signed by Prime Minister Mikhail Mishustin.

    The funds will be sent to the regions whose applications for the creation of campuses were approved by the Ministry of Education and Science as a result of a competitive selection. These are Perm Krai, Novgorod and Tyumen Oblasts.

    Document

    Order dated June 9, 2025 No. 1479-r

    The campuses will be multifunctional spaces with co-working spaces, classrooms, sports facilities, libraries, accommodation for students, postgraduates, teachers and researchers, and technology parks. The creation of such student campuses will not only provide additional opportunities to improve the level of research and education, but will also contribute to the development of areas adjacent to the campus and ensure cultural interaction between the city and university environments.

    Part of the funds for the creation of campuses will be invested by businesses and the regions themselves. Interaction with investors will be built on the model of public-private partnership or on the basis of concession agreements.

    The decision taken was discussed atmeeting with deputy prime ministers on June 23“By 2030, 25 such spaces should be put into operation, intended primarily for the implementation of significant educational and scientific projects, deepening the relationship between education, science and the economy, taking into account the specifics of the region where the campus is located,” noted Mikhail Mishustin.

    The head of government called this project large-scale, complex and extremely important and instructed Deputy Prime Minister Dmitry Chernyshenko to personally monitor the quality of the implementation of planned activities, the efficiency of spending funds provided by the federal budget, and compliance with established deadlines.

    Work on creating university campuses based on public-private partnerships is being carried out on the instructions of the head of state, which he gave following a joint meeting of the State Council and the Presidential Council for Science and Education, held in 2021.

    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.

    MIL OSI Russia News

  • MIL-OSI: Diversified Energy and Carlyle Enter Strategic Partnership to Invest in Up to $2 Billion of PDP Energy Assets

    Source: GlobeNewswire (MIL-OSI)

    BIRMINGHAM, Ala. and NEW YORK, June 23, 2025 (GLOBE NEWSWIRE) — Diversified Energy Company PLC (LSE: DEC; NYSE: DEC) (“Diversified,” or “DEC”), a leading publicly traded natural gas and liquids production company, and global investment firm Carlyle (NASDAQ: CG) have today announced a strategic partnership to invest in up to $2 billion in existing proved developed producing (PDP) natural gas and oil assets across the United States.

    This exclusive partnership will combine Carlyle’s deep credit and structuring expertise, led by Carlyle’s asset-backed finance (ABF) team, with Diversified’s market-leading operating capabilities and differentiated business model of acquiring and optimizing portfolios of existing long-life oil and gas assets to generate reliable production and consistent cash flow.

    The partnership enhances Diversified’s access to capital in an attractive acquisition market. Under the terms of the agreement, Diversified will serve as the operator and servicer of the newly acquired assets. As investments occur, Carlyle intends to pursue opportunities to securitize these assets, seeking to unlock long-term, resilient financing for this critical segment of the nation’s energy infrastructure.

    “We are excited to partner with Carlyle, a leader in the asset-backed finance space. This arrangement significantly enhances our ability to pursue and scale strategic acquisitions in what we believe is a highly compelling environment for PDP asset consolidation,” said Rusty Hutson, Jr., CEO of Diversified Energy. “We continue to see a robust pipeline of opportunities and the growing need for operational scale and efficiency. With Carlyle’s support, we are well-positioned to capitalize on these trends while aiming to generate sustainable cash flow and value for our shareholders.”

    “Diversified is a leading operator of long-life energy assets and a pioneer in bringing PDP securitizations to institutional markets,” said Akhil Bansal, Head of Asset-Backed Finance at Carlyle. “We are excited to bring institutional capital to high-quality, cash-yielding energy assets that are core to US domestic energy production and energy security. This partnership underscores Carlyle’s ability to originate differentiated investment opportunities through proprietary sourcing channels and seek access to stable, yield-oriented energy exposure.”

    Carlyle Asset-Backed Finance (“Carlyle ABF”) is a group within Carlyle’s Global Credit platform focused on private fixed income and asset-backed investments. The highly experienced team leverages the knowledge, sourcing, structuring, and breadth of the entire Carlyle investment platform to help deliver tailored asset-focused financing solutions to businesses, specialty finance companies, banks, asset managers, and other originators and owners of diversified pools of assets. Carlyle ABF has deployed approximately $8 billion since 2021 and has approximately $9 billion in assets under management as of March 31, 2025.

    About Diversified Energy Company PLC
    Diversified is a leading publicly traded energy company focused on natural gas and liquids production, transport, marketing, and well retirement. Through our differentiated strategy, we acquire existing, long-life assets and invest in them to improve environmental and operational performance until retiring those assets in a safe and environmentally secure manner. Recognized by ratings agencies and organizations for our sustainability leadership, this solutions-oriented, stewardship approach makes Diversified the Right Company at the Right Time to responsibly produce energy, deliver reliable free cash flow, and generate shareholder value.

    About Carlyle
    Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across its business and conducts its operations through three business segments: Global Private Equity, Global Credit, and Carlyle AlpInvest. With $453 billion of assets under management as of March 31, 2025, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies, and the communities in which we live and invest. Carlyle employs more than 2,300 people in 29 offices across four continents. Further information is available at www.carlyle.com. Follow Carlyle on X @OneCarlyle and LinkedIn at The Carlyle Group

    Media Contacts

    Diversified Energy Company PLC
    Doug Kris
    Senior Vice President, Investor Relations & Corporate Communications
    (973) 856 2757
    dkris@dgoc.com

    Carlyle
    Kristen Ashton
    Corporate Communications
    (212) 813-4763
    Kristen.ashton@carlyle.com

    Forward-Looking Statements
    This announcement contains forward-looking statements, including statements regarding the expected results of the strategic partnership and future results, which speak only as of the date of this release. They reflect Diversified’s current expectations and are based on assumptions and subject to risks and uncertainties that may cause actual results to differ materially, including the factors described in Diversified’s filings with the U.S. Securities and Exchange Commission. 

    The MIL Network

  • MIL-OSI: Liquidia Receives $50 Million from Healthcare Royalty (HCRx) Following First Commercial Sale of YUTREPIA™

    Source: GlobeNewswire (MIL-OSI)

    MORRISVILLE, N.C., June 23, 2025 (GLOBE NEWSWIRE) — Liquidia Corporation (NASDAQ: LQDA), a biopharmaceutical company developing innovative therapies for patients with rare cardiopulmonary disease, today announced the receipt of an additional $50.0 million under its sixth amendment to its financing agreement (HCR Agreement) with Healthcare Royalty (HCRx) upon the U.S. District Court for the Middle District of North Carolina denying United Therapeutics Corporation’s request for a preliminary injunction and temporary restraining order in its complaint filed against Liquidia and the first commercial sale of YUTREPIA™ (treprostinil) inhalation powder.

    Michael Kaseta, Liquidia’s Chief Financial Officer and Chief Operating Officer, said: “We are grateful for the continued partnership with HCRx and pleased with the early stages of YUTREPIA’s launch. The proceeds from HCRx will further accelerate our launch execution, advance our clinical pipeline, and support the expansion of future manufacturing operations, including the build-out of our newly leased manufacturing facility. Our early momentum and strong financial position reinforce our belief in Liquidia’s ability to achieve profitability without the need for additional capital.”

    Clarke Futch, Chairman and Chief Executive Officer of HCRx added: “Today’s news reflects an important milestone in Liquidia’s commercial execution of YUTREPIA and further strengthens our confidence in the company’s long-term vision. We are pleased to support Liquidia as it further advances the commercial launch of YUTREPIA and prepares to expand future manufacturing capabilities to meet growing market demand in the years ahead.”

    Under the terms of the HCR agreement, Liquidia has now received $175.0 million of the $200.0 million in total potential funding. An additional $25.0 million remains available upon the mutual agreement of the parties, if Liquidia achieves aggregate net sales of YUTREPIA in excess of $100.0 million at any time on or prior to June 30, 2026. The additional $50.0 million that HCRx funded is subject to a fixed payment schedule through 2033. Aggregate payments to HCRx are capped at 175% of the total amounts funded. A true-up payment may be required if HCRx’s internal rate of return falls below a minimum threshold on the date the cap is reached, which is 13% for this funding of $50.0 million.

    About Pulmonary Arterial Hypertension (PAH)
    Pulmonary arterial hypertension (PAH) is a rare, chronic, progressive disease caused by narrowing, thickening or stiffening of the pulmonary arteries that can lead to right heart failure and eventually death. Currently, an estimated 45,000 patients are diagnosed and treated in the United States. There is currently no cure for PAH, so the goals of existing treatments are to alleviate symptoms, maintain or improve functional class, delay disease progression, and improve quality of life.

    About Pulmonary Hypertension Associated with Interstitial Lung Disease (PH-ILD)
    Pulmonary hypertension (PH) associated with interstitial lung disease (ILD) includes a diverse collection of up to 200 different pulmonary diseases, including interstitial pulmonary fibrosis, chronic hypersensitivity pneumonitis, connective tissue disease-related ILD, and chronic pulmonary fibrosis with emphysema (CPFE) among others. Any level of PH in ILD patients is associated with poor 3-year survival. A current estimate of PH-ILD prevalence in the United States is greater than 60,000 patients, though population size in many of these underlying ILD diseases is not yet known due to factors including underdiagnosis and lack of approved treatments until March 2021, when inhaled treprostinil was first approved for this indication.

    About YUTREPIA™ (treprostinil) Inhalation Powder 
    YUTREPIA is an inhaled dry-powder formulation of treprostinil delivered through a convenient, low-effort, palm-sized device. YUTREPIA was designed using Liquidia’s PRINT® technology, which enables the development of drug particles that are precise and uniform in size, shape and composition, and that are engineered for enhanced deposition in the lung following oral inhalation. Liquidia has completed the INSPIRE trial (NCT03399604), or Investigation of the Safety and Pharmacology of Dry Powder Inhalation of Treprostinil, an open-label, multi-center phase 3 clinical study of YUTREPIA in patients diagnosed with PAH who are naïve to inhaled treprostinil or who are transitioning from Tyvaso® (nebulized treprostinil). YUTREPIA is currently being studied in the ASCENT trial (NCT06129240), or An Open-Label ProSpective MultiCENTer Study to Evaluate Safety and Tolerability of Dry Powder Inhaled Treprostinil in PH, with the objective of informing YUTREPIA’s dosing and tolerability profile in patients with PH-ILD. YUTREPIA was previously referred to as LIQ861 in investigational studies.

    INDICATION
    YUTREPIA (treprostinil) inhalation powder is a prostacyclin analog indicated for the treatment of:

    • Pulmonary arterial hypertension (PAH; WHO Group 1) to improve exercise ability. Studies establishing effectiveness predominately included patients with NYHA Functional Class III symptoms and etiologies of idiopathic or heritable PAH (56%) or PAH associated with connective tissue diseases (33%).
    • Pulmonary hypertension associated with interstitial lung disease (PH-ILD; WHO Group 3) to improve exercise ability. The study establishing effectiveness predominately included patients with etiologies of idiopathic interstitial pneumonia (IIP) (45%) inclusive of idiopathic pulmonary fibrosis (IPF), combined pulmonary fibrosis and emphysema (CPFE) (25%), and WHO Group 3 connective tissue disease (22%).

    SELECTED SAFETY INFORMATION: WARNINGS AND PRECAUTIONS 

    • Treprostinil is a pulmonary and systemic vasodilator. In patients with low systemic arterial pressure, treatment with Treprostinil may produce symptomatic hypotension.
    • Treprostinil inhibits platelet aggregation and increases the risk of bleeding.
    • Co-administration of a cytochrome P450 (CYP) 2C8 enzyme inhibitor (e.g., gemfibrozil) may increase exposure (both Cmax and AUC) to treprostinil. Co-administration of a CYP2C8 enzyme inducer (e.g., rifampin) may decrease exposure to treprostinil. Increased exposure is likely to increase adverse events associated with treprostinil administration, whereas decreased exposure is likely to reduce clinical effectiveness.
    • Like other inhaled prostaglandins, YUTREPIA may cause acute bronchospasm. Patients with asthma or chronic obstructive pulmonary disease (COPD), or other bronchial hyperreactivity, are at increased risk for bronchospasm. Ensure that such patients are treated optimally for reactive airway disease prior to and during treatment. 
    • Most common adverse reactions with YUTREPIA (≥10%) are cough, headache, throat irritation and dizziness.

    Prescribing Information and Instructions for Use for YUTREPIA (treprostinil) inhalation powder are available at YUTREPIA.com.

    About Liquidia Corporation
    Liquidia Corporation is a biopharmaceutical company developing innovative therapies for patients with rare cardiopulmonary disease. The company’s current focus spans the development and commercialization of products in pulmonary hypertension and other applications of its proprietary PRINT® Technology. PRINT enabled the creation of YUTREPIA™ (treprostinil) inhalation powder, a drug that has been approved for the treatment of pulmonary arterial hypertension (PAH) and pulmonary hypertension associated with interstitial lung disease (PHILD). The company is also developing L606, an investigational sustained-release formulation of treprostinil administered twice-daily with a next-generation nebulizer and currently markets generic Treprostinil Injection for the treatment of PAH. To learn more about Liquidia, please visit www.liquidia.com.

    About HealthCare Royalty
    HealthCare Royalty is a leading royalty acquisition company focused on commercial or near-commercial biopharmaceutical products. With offices in Stamford, Conn., San Francisco, Boston, London and Miami. HCRx has invested $5+ billion in over 90 biopharmaceutical products since inception. For more information, visit https://www.hcrx.com. HEALTHCARE ROYALTY® and HCRx® are registered trademarks of HealthCare Royalty Management, LLC.

    Cautionary Statements Regarding Forward-Looking Statements
    This press release may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release other than statements of historical facts, including statements regarding our future results of operations and financial position, our strategic and financial initiatives, our business strategy and plans and our objectives for future operations, are forward-looking statements. Such forward-looking statements, including statements regarding clinical trials, clinical studies and other clinical work (including the funding therefor, anticipated patient enrollment, safety data, study data, trial outcomes, timing or associated costs), regulatory applications and related submission contents and timelines; our ability to successfully commercialize our products, including YUTREPIA, for which we obtain FDA or other regulatory authority approval; the acceptance by the market of our products, including YUTREPIA, and their potential pricing and/or reimbursement by third-party payors, if approved (in the case of our product candidates) and whether such acceptance is sufficient to support continued commercialization or development of our products; the successful development or commercialization of our products, including YUTREPIA; our revenue from product sales and whether or not we may become profitable in the near term, or at all; future competitive or other market factors that may adversely affect the commercial potential for YUTREPIA; and our ability to execute on our strategic or financial initiatives, involve significant risks and uncertainties and actual results could differ materially from those expressed or implied herein. Despite the approval of YUTREPIA by the FDA, it is possible that commercialization of YUTREPIA may be blocked or delayed in connection with legal proceedings that have been initiated or that may in the future be initiated, or we may be required to pay damages, including royalties, in connection with our commercial launch, as a result of these legal proceedings. We may be unable to achieve the net sales milestone necessary to receive additional funding under the HCRx agreement and, even if we do achieve the net sales milestone, additional funding is contingent upon the agreement of both HCRx and us. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “would,” and similar expressions are intended to identify forward-looking statements. We have based these forward-looking statements largely 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, short-term and long-term business operations and objectives and financial needs. These forward-looking statements are subject to a number of risks discussed in our filings with the SEC, as well as a number of uncertainties and assumptions. Moreover, we operate in a very competitive and rapidly changing environment and our industry has inherent risks. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties and assumptions, the future events discussed in this press release may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. Nothing in this press release should be regarded as a representation by any person that these goals will be achieved, and we undertake no duty to update our goals or to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise.

    Tyvaso® is a registered trademark of United Therapeutics Corporation.

    Contact Information

    Investors:
    Jason Adair
    Chief Business Officer
    919.328.4350
    Jason.adair@liquidia.com

    Media:
    Patrick Wallace
    Director, Corporate Communications
    919.328.4383
    patrick.wallace@liquidia.com

    The MIL Network

  • MIL-OSI: Service CU Launches Service Ventures to Drive Innovation in the Credit Union Ecosystem

    Source: GlobeNewswire (MIL-OSI)

    PORTSMOUTH, N.H., June 23, 2025 (GLOBE NEWSWIRE) — Service Ventures, an independent investment arm of Service Credit Union, has officially launched to allow the credit union to drive its mission of improving members’ financial well-being while also helping their experience.

    Service Ventures invests in solutions that empower credit unions to deliver exceptional member experiences. The firm seeks partnerships with startups that share a commitment to enhancing service, accessibility, and operational excellence across the credit union landscape.

    In its early stage, Service Ventures has already made strategic investments in several innovative companies, including member engagement platform Larky, deposit management solution Modern FI CUSO, conversational AI assistant Posh AI, and wealth technology company WealthCabinet. More information on each of these companies can be found at service.vc/portfolio.

    Service Ventures is led by General Partner Brian Regan. Before joining Service Ventures in 2024, Brian co-founded Strake, a cloud optimization company. Prior to that, Brian worked for VMWare’s Security Business Unit, where he focused on mergers and acquisitions, partnerships, and business planning initiatives.

    “Service Ventures will fuel the next generation of companies that help credit unions better serve their members,” Regan said. “We’re focused on ethical, member-first solutions and are excited to bring visionary founders into the fold of opportunity within the cooperative banking space.”

    About Service Ventures

    Service Ventures is the independent venture capital arm of Service Credit Union, a $6+ billion financial institution serving more than 350,000 members worldwide. Service Ventures invests in innovative financial technology companies that align with the credit union philosophy of people helping people and fosters partnerships that drive meaningful impact across the financial services landscape.

    About Service Credit Union

    Service Credit Union is dedicated to providing a banking experience that improves our members’ lives and the communities in which they live. Established in 1957 to provide affordable credit to the Pease Air Force Base community, and now the largest credit union in New Hampshire, with over $6 billion in assets and 50 branch locations in the New England Region and Germany, we continue to provide a better future to our members all over the world. To learn more about Service Credit Union, please visit www.servicecu.org.

    Contact:
    Chris Banker
    cbanker@servicecu.org (603) 923-0904

    The MIL Network

  • MIL-OSI New Zealand: GPs to receive record funding boost

    Source: New Zealand Government

    General practices are set to benefit from the largest funding boost in New Zealand’s history – because frontline care starts with your local GP, Health Minister Simeon Brown says. 

    “This Government is focused on real results. When you are able to see your doctor or nurse earlier, you stay healthier and out of hospital. That’s better for patients, better for the system, and exactly what we are here to deliver,” Mr Brown says.

    “Too many New Zealanders have struggled to get care because their local GP isn’t taking new patients, or the next available appointment is weeks away. This funding boost is about turning things around. It’s part of our $1.37 billion investment in Health New Zealand through Budget 2025 – backing your local family doctor to see more patients, reduce wait times, and deliver care faster to those who need it most.

    “The funding agreement reached with the sector yesterday reflects another significant step forward and will support GPs to continue to improve access to timely, quality healthcare.”

    Under the agreement, GPs will receive a 13.89 per cent funding uplift this year. This brings the total Government funding increase for GP clinics this financial year to $175 million – more than double the highest annual increase seen since capitation was first rolled out.

    “This reflects our ongoing commitment to strengthen and invest in frontline services to ensure New Zealanders can get access to the timely, quality healthcare they deserve.

    “We have already announced major investments to boost the number of doctors and nurses working in primary care. This funding boost will enable GP clinics to recruit and retain the additional workers as they graduate.”

    This funding increase provides: 
     

    • $59 million capitation increase for the number of patients enrolled with individual general practices
    • $60 million for improved patient access to appointments, and to encourage practices to provide more data to enable more performance-based funding
    • $30 million performance-based funding for improved immunisation outcomes, specifically ensuring more babies receive their first vaccine doses at the six-week milestone
    • $26 million in additional funding to help GPs keep fees capped for community service card holders and those on low incomes and to prevent fee increases for under-14s.

    “Supporting GP clinics to deliver minor planned care procedures closer to patients in the community takes pressure directly off our hospitals.

    “That’s why a further $5 million to expand access to minor planned care procedures in the community will be made available to the sector once implementation details are worked through. This will reduce wait time for procedures such as minor gynaecological procedures, skin excisions, iron infusions, and oncology infusions.

    “Childhood immunisations are a key priority for this Government. We want to see 95 per cent of enrolled children fully immunised and we know GPs play a critical role in achieving that. That’s why this agreement includes performance payments for clinics that lift childhood immunisation rates by up to ten percentage points, or to 95 per cent of their enrolled population, with partial payment for partial achievement. 

    “This agreement marks a significant and positive step forward for the primary care system. It responds directly to consistent feedback from the sector over the past year about the need for a more sustainable and responsive funding model.

    “I expect this investment to deliver real results – including shorter wait times, easier access to care, and better health outcomes for patients.”

    The collection of more primary care data will further support a more effective funding approach and ensure resources are targeted at improving patient outcomes. 

    “This is part of the Government’s broader plan to rebuild and strengthen the foundations of our health system, with primary care at the centre, and to focus on performance and delivery.

    “This is the largest investment in general practice in decades – but more importantly, it’s tied to better results. Shorter wait times. Higher immunisation rates. More patients getting the care they need in the community. 

    “This is how you rebuild a health system – not with slogans, but with funding, focus, and delivery. 

    “I would like to thank the primary care sector representatives, including GenPro, GPNZ and Kāhui Tautoko who have worked with Health New Zealand in good faith on this record uplift,” Mr Brown says.

    MIL OSI New Zealand News

  • MIL-Evening Report: More women are using medical cannabis – but new research shows barriers push some into illegal markets

    Source: The Conversation (Au and NZ) – By Vinuli Withanarachchie, PhD candidate, College of Health, Te Kunenga ki Pūrehuroa – Massey University

    Getty Images

    The number of women using medicinal cannabis is growing in New Zealand and overseas. They use cannabis treatment for general conditions such as pain, anxiety, inflammation and nausea, as well as gynaecological conditions, including endometriosis, pelvic floor conditions, and menopause.

    However, their experiences with medicinal cannabis remain under-explored in research and overlooked in policy and regulation. As our work shows, they face several gender-specific barriers to accessing medicinal cannabis. Some of these hurdles lead women to seeking cannabis from illegal markets.

    New Zealand introduced the medicinal cannabis scheme five years ago to enable access to legal, safe and quality-controlled cannabis products for any condition a doctor would deem suitable for a prescription.

    A recent analysis found the number of medicinal cannabis products dispensed has increased more than 14-fold since 2020, with more than 160,000 prescriptions administered during 2023/2024.

    In the first two years of the scheme, women were the primary recipients of medicinal cannabis prescriptions. Between 2022 and 2023, the number of prescriptions issued to female patients doubled to 47,633.

    Our findings from a large-scale national survey show that although women perceive physicians as supportive of prescribing medicinal cannabis, they were less likely to have prescriptions than men. This is similar to findings from Australia.

    Potential reasons include the cost of visiting health professionals, unpaid care-giving duties, lower workforce participation and a pay disparity – all creating barriers to accessing health services.

    Women were also more likely not to disclose their medicinal cannabis use to others, citing it would be less accepted by society because of their gender.

    Gendered risks in illegal cannabis markets

    Our latest study aligned with Australia in finding that women often seek cannabis from illegal sources because of perceived lower prices. Many could not financially sustain accessing legal prescriptions because medicinal cannabis is not funded by New Zealand’s drug-buying agency Pharmac.

    Study participants discussed the health risks of accessing illegal cannabis such as consuming products without knowing how strong they are or whether they have been contaminated with harmful substances.

    They also characterised illegal cannabis markets as unsafe and intimidating for women, with little legal protection and the presence of predatory male sellers. Some even described gender-specific experiences of physical assault, intimidation and sexual harassment, particularly when cannabis buying occurred in drug houses or locations controlled by the seller.

    Women accessing medicinal cannabis in illegal markets increasingly relied on female suppliers, viewing them as safer and more reliable. Some also helped connect others to these suppliers and used social media to warn other women of unsafe male suppliers. This created informal women-led support networks for access.

    Accessing legal prescriptions

    Women increasingly use cannabis clinics to access pain treatments.
    Getty Images

    One of our recent studies found many women begin their journeys with medicinal cannabis online via social media, often leading them to cannabis clinics with a strong digital presence. Women are now a growing demographic for specialised medicinal cannabis clinics in New Zealand and in other countries.

    Cannabis clinics have a reputation among medicinal cannabis consumers for being more knowledgeable and positive about treatments than general practitioners and other health providers. Women have been encouraged by positive online testimonies from other women using cannabis treatments for gynaecological and other conditions.

    Female medicinal cannabis patients also described the financial burden of accessing a prescription, including consultation fees and the costs of products as barriers to access.

    Their relationships with their GPs strongly influenced their decision to seek a prescription. Those with prior experiences of having their pain underestimated or misdiagnosed in mainstream care were more likely to source legal medicinal cannabis from cannabis clinics.

    Policy and practice

    The current scientific evidence for using medicinal cannabis for gynaecological conditions is still emerging. Clinical trials are under way in Australia to evaluate cannabis treatment for endometriosis and period pain.

    Women’s reliance on online sources and personal recommendations to learn about medicinal cannabis highlights a gap in public awareness and government education about the legal prescription scheme. Hesitance to discuss and recommend cannabis treatment among GPs also persists as a barrier to access.

    Online peer networks on social media platforms are promoting women’s agency and informing their decision making around medicinal cannabis, but also raise the risks of misinformation.

    Although marketing of medicinal cannabis to women may improve their engagement with the prescription scheme, it may also put them in a vulnerable position where they are encouraged to pursue expensive treatment options which may not be effective.

    The collective findings from our studies indicate complex financial, social and systemic factors affecting safe and equitable access to medicinal cannabis for women. To improve women’s engagement with New Zealand’s medicinal cannabis scheme, we suggest GPs should have informed and non-stigmatising discussions with female patients to explore when medicinal cannabis might be an appropriate treatment option.

    Better access to good official consumer information about medicinal cannabis and greater investment in clinical trials for gynaecological conditions would also improve and support women’s decision making about their health.

    Vinuli Withanarachchie receives funding from the Health Research Council for research on cannabis policy reform.

    Chris Wilkins receives funding from the Health Research Council for studies on cannabis policy and vaping.

    Marta Rychert receives funding for cannabis research from the Royal Society of NZ and the Health Research Council.

    ref. More women are using medical cannabis – but new research shows barriers push some into illegal markets – https://theconversation.com/more-women-are-using-medical-cannabis-but-new-research-shows-barriers-push-some-into-illegal-markets-258797

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI: Ninepoint Partners Announces June 2025 Cash Distributions for ETF Series Securities

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, June 23, 2025 (GLOBE NEWSWIRE) — Ninepoint Partners LP (“Ninepoint Partners”) today announced the June 2025 cash distributions for its ETF Series securities. The record date for the distributions is June 30, 2025. All distributions are payable on July 8, 2025.

    The per-unit June 2025 distributions are detailed below:


    About Ninepoint Partners

    Based in Toronto, Ninepoint Partners LP is one of Canada’s leading alternative investment management firms overseeing approximately $7 billion in assets under management and institutional contracts. Committed to helping investors explore innovative investment solutions that have the potential to enhance returns and manage portfolio risk, Ninepoint offers a diverse set of alternative strategies spanning Equities, Fixed Income, Alternative Income, Real Assets, F/X and Digital Assets.

    For more information on Ninepoint Partners LP, please visit www.ninepoint.com or for inquiries regarding the offering, please contact us at (416) 943-6707 or (866) 299-9906 or invest@ninepoint.com.

    Ninepoint Partners LP is the investment manager to the Ninepoint Funds (collectively, the “Funds”). Commissions, trailing commissions, management fees, performance fees (if any), and other expenses all may be associated with investing in the Funds. Please read the prospectus carefully before investing. The information contained herein does not constitute an offer or solicitation by anyone in the United States or in any other jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation. Prospective investors who are not resident in Canada should contact their financial advisor to determine whether securities of the Fund may be lawfully sold in their jurisdiction.

    Please note that distribution factors (breakdown between income, capital gains and return of capital) can only be calculated when a fund has reached its year-end. Distribution information should not be relied upon for income tax reporting purposes as this is only a component of total distributions for the year. For accurate distribution amounts for the purpose of filing an income tax return, please refer to the appropriate T3/T5 slips for that particular taxation year. Please refer to the prospectus or offering memorandum of each Fund for details of the Fund’s distribution policy.

    The payment of distributions and distribution breakdown, if applicable, is not guaranteed and may fluctuate. The payment of distributions should not be confused with a Fund’s performance, rate of return, or yield. If distributions paid by the Fund are greater than the performance of the Fund, then an investor’s original investment will shrink. Distributions paid as a result of capital gains realized by a Fund and income and dividends earned by a Fund are taxable in the year they are paid. An investor’s adjusted cost base will be reduced by the amount of any returns of capital. If an investor’s adjusted cost base goes below zero, then capital gains tax will have to be paid on the amount below zero.

    Sales Inquiries:

    Ninepoint Partners LP
    Neil Ross
    416-945-6227
    nross@ninepoint.com 

    The MIL Network

  • MIL-OSI: Is It Time for XRP? PFMCrypto Unveils First-Ever XRP Cloud Mining Contracts with Daily Payouts — A New XRP Era Begins

    Source: GlobeNewswire (MIL-OSI)

    Farington, England, June 23, 2025 (GLOBE NEWSWIRE) — A breakthrough in XRP mining is finally here—PFMCrypto unveils a cloud-based, daily-profit model that could redefine passive income in the XRP ecosystem.

    As the digital asset market awaits XRP’s next big move, PFMCrypto has taken a major leap forward by launching its revolutionary XRP cloud mining contracts—an innovative model that brings daily profits to users without requiring any hardware or technical skills. This move has already sparked significant excitement among crypto investors and XRP enthusiasts worldwide.

    For months, XRP has been consolidating within a tight price band, leading many to believe that a breakout is on the horizon. In this context, PFMCrypto’s XRP Mining Contracts offering not only provides a new income stream but also strengthens confidence in XRP’s long-term utility and value.

    XRP Mining Reimagined: Cloud Mining Contracts Designed Specifically for XRP Holders

    Visit the official site: https://pfmcrypto.net 

    XRP’s unique consensus protocol makes traditional proof-of-work (PoW) mining impossible. To address this, PFMCrypto has introduced a simulated mining model—designed specifically for XRP—that rewards users based on smart contract participation, mimicking the earning dynamics of conventional mining.

    The platform offers access to eco-friendly, high-performance mining infrastructure through remote contracts. In addition to XRP, users can mine DOGE, BTC, ETH, BCH, LTC, and SOL, making it a diverse and user-friendly passive income solution.

    “This isn’t just a mining product—it’s a new way to be part of the XRP network,” said PFMCrypto’s CTO. “Our contracts provide real value, real rewards, and real impact—backed by smart-yield technology aligned with XRP’s architecture.”

    Key Features of the PFMCrypto XRP Cloud Mining Contracts

    –  No Hardware Required: Accessible to all users without mining equipment or technical setup

    –  Daily Payouts: Earn mining rewards daily based on your contract participation

    –  Secure Custody: Assets are protected with PFMCrypto’s industry-grade security standards

    –  Flexible Contract Terms: Choose short-, mid-, or long-term options to match your investment strategy

    Custom Plans for Every Investor

    With over 10 contract types, PFMCrypto empowers users to choose plans that align with their goals and budgets. Here are some popular options:

    $10 Plan – 1-Day Term – Earn $0.60

    $100 Plan – 2-Day Term – Earn $3.00/day + $2 bonus

    $1,000 Plan – 9-Day Term – Earn $13.10/day

    $5,000 Plan – 30-Day Term – Earn $78.50/day

    Whether you’re a casual XRP holder or a serious investor, these flexible plans offer a way to earn consistent returns even during market sideways movement.

    Click here to explore all mining contracts.

    Rising Participation Signals Market Confidence

    In June 2025, PFMCrypto reported a surge in user activity, with tens of thousands of new wallets registered during the early access phase. All new users receive a $10 welcome bonus, and daily login rewards add even more earning potential. Analysts view this rapid adoption as a bullish signal for XRP and a sign of growing user demand for income-generating tools in the crypto space.

    What Makes PFMCrypto’s XRP Contracts Unique?

    –  100% Remote Access: No hardware, no technical skills—just log in and activate your plan.

    –  Capital Protection: Contracts guarantee full principal return at maturity.

    –  AI-Driven Profitability: Smart optimization ensures returns even during price stagnation.

    –  Daily Rewards: Predictable XRP payouts improve cash flow and reduce volatility risks.

    How to start mining XRP on PFMCrypto in minutes

    1. Sign Up – Instantly receive a $10 bonus + $0.66 daily login rewards
    2. Activate a Contract – Choose a plan that fits your goals
    3. Start Earning – Watch your XRP balance grow every day

    A smarter way to hold XRP: Get Paid During Market Consolidation

    Founded in 2018, PFMCrypto is a trusted name in the world of cloud-based digital asset mining. With a focus on accessibility, sustainability, and profitability, the platform has helped users across 100+ countries earn passive income from assets like XRP, BTC, BCH, DOGE, LTC, and SOL—all without the high cost of hardware or technical headaches.

    Don’t wait for the next XRP rally—start earning now.

    Begin your XRP mining journey today at: https://pfmcrypto.net 

    Disclaimer: The information provided in this press release does not constitute an investment solicitation, nor does it constitute investment advice, financial advice, or trading recommendations. Cryptocurrency mining and staking involve risks and the possibility of losing funds. It is strongly recommended that you perform due diligence before investing or trading in cryptocurrencies and securities, including consulting a professional financial advisor.

    The MIL Network

  • MIL-OSI: Ninepoint Partners Announces Estimated June 2025 Cash Distributions for Ninepoint Cash Management Fund – ETF Series

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, June 23, 2025 (GLOBE NEWSWIRE) — Ninepoint Partners LP (“Ninepoint Partners”) today announced the estimated June 2025 cash distribution for the ETF Series of Ninepoint Cash Management Fund (the “Fund”). Ninepoint Partners expects to issue a press release on or about June 27, 2025, which will provide the final distribution rate. The record date for the cash distribution is June 30, 2025, payable on July 8, 2025.

    All estimates in this document are based on the accounting data as of June 20, 2025. Due to subscriptions and/or redemptions and/or other factors, the final June 2025 distribution may differ from these estimates and the difference could be material. The information included in this letter is for reference purposes only. Please reconcile all information against your official client statements. This is not intended to be a statement for official tax reporting purposes or any form of tax advice.

    The actual taxable amounts of distributions for 2025, including the tax characteristics of the distributions, will be reported to CDS Clearing and Depository Services Inc. in early 2026. Securityholders can contact their brokerage firm for this information.

    The per-unit estimated June 2025 distribution is detailed below:

    Ninepoint ETF Series Ticker Cash Distribution per
    unit
    Notional Distribution
    per unit
    CUSIP
    Ninepoint Cash
    Management Fund
    NSAV $0.12556 $0.00000 65443X105


    About Ninepoint Partners

    Based in Toronto, Ninepoint Partners LP is one of Canada’s leading alternative investment management firms overseeing approximately $7 billion in assets under management and institutional contracts. Committed to helping investors explore innovative investment solutions that have the potential to enhance returns and manage portfolio risk, Ninepoint offers a diverse set of alternative strategies spanning Equities, Fixed Income, Alternative Income, Real Assets, F/X and Digital Assets.

    For more information on Ninepoint Partners LP, please visit www.ninepoint.com or for inquiries regarding the offering, please contact us at (416) 943-6707 or (866) 299-9906 or invest@ninepoint.com.

    Ninepoint Partners LP is the investment manager to the Ninepoint Funds (collectively, the “Funds”). Commissions, trailing commissions, management fees, performance fees (if any), and other expenses all may be associated with investing in the Funds. Please read the prospectus carefully before investing. The information contained herein does not constitute an offer or solicitation by anyone in the United States or in any other jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation. Prospective investors who are not resident in Canada should contact their financial advisor to determine whether securities of the Fund may be lawfully sold in their jurisdiction.

    Please note that distribution factors (breakdown between income, capital gains and return of capital) can only be calculated when a fund has reached its year-end. Distribution information should not be relied upon for income tax reporting purposes as this is only a component of total distributions for the year. For accurate distribution amounts for the purpose of filing an income tax return, please refer to the appropriate T3/T5 slips for that particular taxation year. Please refer to the prospectus or offering memorandum of each Fund for details of the Fund’s distribution policy.

    The payment of distributions and distribution breakdown, if applicable, is not guaranteed and may fluctuate. The payment of distributions should not be confused with a Fund’s performance, rate of return, or yield. If distributions paid by the Fund are greater than the performance of the Fund, then an investor’s original investment will shrink. Distributions paid as a result of capital gains realized by a Fund and income and dividends earned by a Fund are taxable in the year they are paid. An investor’s adjusted cost base will be reduced by the amount of any returns of capital. If an investor’s adjusted cost base goes below zero, then capital gains tax will have to be paid on the amount below zero.

    Sales Inquiries:

    Ninepoint Partners LP
    Neil Ross
    416-945-6227
    nross@ninepoint.com

    The MIL Network

  • MIL-OSI: ILUS Provides Shareholder Podcast Update on Strategic Progress Across Its Portfolio Companies

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, NY, June 23, 2025 (GLOBE NEWSWIRE) — Ilustrato Pictures International Inc. (OTC: ILUS) (“ILUS” or the “Company”), a mergers and acquisitions company focused on acquiring and scaling businesses in the public safety and industrial sectors, today released a shareholder podcast updating its progress, strategic shifts, and operational milestones across its portfolio companies.

    ILUS shared key updates regarding operational restructuring, financial improvements, and strategic goals as it enters a new phase of focused, scalable growth.

    To listen to the full shareholder podcast, please visit: https://youtu.be/d5DA9IPffK0

    ILUS Company Overview: Reset, Refocus, and Rebuild

    After navigating two challenging years in 2023 and 2024, ILUS is entering a new chapter of strategic growth and consolidation. Key themes from the shareholder podcast included:

    • Audits: ILUS and SAML have transitioned to a U.S.-based auditing firm, enhancing compliance and aligning with future uplisting goals. The company is currently finalizing a comprehensive two-year re-audit and related consolidations to bring all financial filings fully up to date.
    • Business Model Realignment: ILUS has restructured several legacy operations and consolidated its footprint, including relocating core operations to a central facility in Jacksonville, Florida, to streamline production and reduce costs.
    • Strategic Value Creation: ILUS continues to evaluate uplist, spinoffs, partnerships, and dividend-based structures to unlock and return shareholder value.

    ILUS also highlighted its positions in external entities, including Fusion Fuel Green PLC (Nasdaq: HTOO). Additionally, the podcast introduced ILUV Capital, a business development company (BDC) under consideration that may operate alongside ILUS to deliver alternative pathways for a return for ILUS Shareholders should it materialize.

    Portfolio Highlights

    SAML to ILUS Industries Transition

    SAML, an ILUS portfolio company, is currently undergoing a rebranding process:

    • A name change to ILUS Industries is underway.
    • Nick Link is serving as interim CEO, with the search for a permanent CEO currently in progress.
    • ILUS Industries will provide a focused platform for vertical growth and additional merger activity.

    Emergency Response Technologies (ERT)

    Will sit as a subsidiary under ILUS Industries, controlled by ILUS Industries

    ERT remains a core pillar of ILUS’s strategy, advancing innovation in the fire, public safety, and industrial markets.

    • Firebug Product Line: Production is underway at the Jacksonville facility, focused on wildfire response, battery fire suppression, and public safety, which will also alleviate any tariff risk.
    • E-Raptor EV Range: The desk top R&D and new design of the new electric vehicle are complete. Production will begin in Serbia, with partial U.S. assembly at ILUS’s Jacksonville site.
    • Expansion into Vertical Markets: ERT is actively developing distribution networks and product offerings in the industrial, safety, and agricultural sectors for this product and will seek an acquisition of a distribution network for this product.

    Fusion Fuel Green (HTOO)

    ILUS recently completed the sale of QIND to Fusion Fuel Green PLC (Nasdaq: HTOO):

    • As part of the realignment, JP Backwell transitioned from SAML to assume the role of CEO at HTOO.
    • ILUS now holds approximately 35 million shares of Nasdaq-listed HTOO equity as an asset on its Balance Sheet while:
      • The transaction eliminated QIND’s debt from ILUS’s balance sheet and relieved ILUS of related consolidation and reporting burdens.
      • ILUS retains indirect exposure to QIND’s future performance.

    Replay Solutions (Resource Recovery & E-Waste)

    A wholly owned subsidiary of ILUS Industries

    Replay is now launching its environmentally sustainable operations:

    • E-waste processing is set to begin in Serbia, with future expansion planned into additional regions, including Egypt, the UAE, and later the USA in 2026.
    • Equipment and machinery have been manufactured and are awaiting shipment to operational locations.
    • Has signed a non-binding Memorandum of Understanding (MOU) with a Dubai-based refinery for the potential acquisition of a substantial volume of marine sludge oil, intended for processing into recycled oil products and lubricants. Additionally, Replay is conducting due diligence on a second acquisition target. There is no guarantee that either of these acquisitions will materialize.
    • Research and development are underway for a tyre pyrolysis facility to diversify Replay’s recycling capabilities, for the conversion of tyres into oil and lubricants.

    Strategic and Financial Outlook

    • ILUS has materially strengthened its financial position through the QIND/ HTOO transaction and strategic restructuring.
    • The organization now manages a portfolio of increasingly bankable businesses supporting improved capital access.
    • With enhanced balance sheet strength and operational scale, ILUS is increasingly improving and readying itself for a potential IPO or uplist in the future.
    • ILUS intends to establish a BDC company called As ILUV Capital either within ILUS or standalone, with ILUS Shareholders receiving benefits in some way to be defined. As this matures, ILUS may be in a position to explore dividends or share buybacks, consistent with its vision of long-term shareholder return.

    Summary and Closing Remarks

    • ILUS has postponed the upcoming shareholder meeting to ensure stronger participation and alignment.
    • With two difficult years behind it, ILUS is focused on ensuring the next three years reflect sustained growth, transparency, and execution.
    • ILUS management expressed gratitude for shareholders’ support and patience and looks forward to connecting in person during planned meetings later this year.

    For further information on ILUS, please see its communication channels:

    Website: https://ilus-group.com
    X: @ILUS_INTL
    Email: IR@Ilus-Group.com
    Source: ILUS

    Contact:
    IR@Ilus-group.com
    (917) 522-3202)

    Forward-Looking Statement

    Certain information set forth in this press release contains “forward-looking information”, including “future-oriented financial information” and “financial outlook”, under applicable securities laws (collectively referred to herein as forward-looking statements). Except for statements of historical fact, the information contained herein constitutes forward-looking statements and includes, but is not limited to, the (i) projected financial performance of the Company; (ii) completion of, and the use of proceeds from, the sale of the shares being offered hereunder; (iii) the expected development of the Company’s business, projects, and joint ventures; (iv) execution of the Company’s vision and growth strategy, including with respect to future M&A activity and global growth; (v) sources and availability of third-party financing for the Company’s projects; (vi) completion of the Company’s projects that are currently underway, in development or otherwise under consideration; (vii) renewal of the Company’s current customer, supplier and other material agreements; and (viii) future liquidity, working capital, and capital requirements. Forward-looking statements are provided to allow potential investors the opportunity to understand management’s beliefs and opinions in respect of the future so that they may use such beliefs and opinions as one factor in evaluating an investment. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Although forward-looking statements contained in this presentation are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements. The Securities and Exchange Commission (“SEC”) has provided guidance to issuers regarding the use of social media to disclose material nonpublic information. In this regard, investors and others should note that we announce material financial information via official Press Releases, in addition to SEC filings, press releases, Questions & Answers sessions, public conference calls, and webcasts also may take time from time to time. We use these channels as well as social media to communicate with the public about our company, our services, and other issues. It is possible that the information we post on social media could be deemed to be material information. Therefore, considering the SEC’s guidance, we encourage investors, the media, and others interested in our company to review the information we post on the following social & media channels: Website: https://ilus-group.com X: @ILUS_INTL

    The MIL Network

  • MIL-OSI: LPL Financial Reports Monthly Activity for May 2025

    Source: GlobeNewswire (MIL-OSI)

    SAN DIEGO, June 23, 2025 (GLOBE NEWSWIRE) — LPL Financial LLC (“LPL Financial”), a wholly owned subsidiary of LPL Financial Holdings Inc. (Nasdaq: LPLA) (the “Company”), today released its monthly activity report for May 2025.

    Total advisory and brokerage assets at the end of May were $1.85 trillion, an increase of $66.6 billion, or 3.7%, compared to the end of April 2025.

    Total organic net new assets for May were $6.5 billion, translating to a 4.4% annualized growth rate. This included $1.0 billion of assets that off-boarded as part of the previously disclosed planned separation from misaligned large OSJs. Prior to these impacts, organic net new assets were $7.5 billion, translating to a 5.0% annualized growth rate.

    Total client cash balances at the end of May were $49.2 billion, a decrease of $2.6 billion compared to the end of April 2025. Net buying in May was $13.5 billion.

    (End of period $ in billions, unless noted) May April Change May Change
    2025 2025 M/M 2024 Y/Y
    Advisory and Brokerage Assets          
    Advisory assets 1,021.6 978.6 4.4% 809.4 26.2%
    Brokerage assets 832.9 809.4 2.9% 657.0 26.8%
    Total Advisory and Brokerage Assets 1,854.5 1,787.9 3.7% 1,466.4 26.5%
               
    Organic Net New Assets          
    Organic net new advisory assets 8.3 6.9 n/m 9.9 n/m
    Organic net new brokerage assets (1.8) (0.8) n/m 1.3 n/m
    Total Organic Net New Assets 6.5 6.1 n/m 11.2 n/m
               
    Acquired Net New Assets          
    Acquired net new advisory assets 0.0 0.0 n/m 0.0 n/m
    Acquired net new brokerage assets 0.0 0.0 n/m 0.0 n/m
    Total Acquired Net New Assets 0.0 0.0 n/m 0.0 n/m
               
    Total Net New Assets          
    Net new advisory assets 8.3 6.9 n/m 9.9 n/m
    Net new brokerage assets (1.8) (0.8) n/m 1.3 n/m
    Total Net New Assets 6.5 6.1 n/m 11.2 n/m
               
    Net brokerage to advisory conversions 2.2 1.7 n/m 1.2 n/m
               
    Client Cash Balances          
    Insured cash account sweep 33.4 35.2 (5.1%) 31.8 5.0%
    Deposit cash account sweep 10.6 10.7 (0.9%) 9.0 17.8%
    Total Bank Sweep 44.0 45.9 (4.1%) 40.8 7.8%
    Money market sweep 3.9 4.2 (7.1%) 2.3 69.6%
    Total Client Cash Sweep Held by Third Parties 47.9 50.2 (4.6%) 43.1 11.1%
    Client cash account 1.3 1.6 (18.8%) 1.3 —%
    Total Client Cash Balances 49.2 51.8 (5.0%) 44.5 10.6%
               
    Net buy (sell) activity 13.5 10.4 n/m 15.0 n/m
               
    Market Drivers          
    S&P 500 Index (end of period) 5,912 5,569 6.2% 5,278 12.0%
    Russell 2000 Index (end of period) 2,066 1,964 5.2% 2,070 (0.2%)
    Fed Funds daily effective rate (average bps) 433 433 —% 533 (18.8%)
               

    For additional information regarding these and other LPL Financial business metrics, please refer to the Company’s most recent earnings announcement, which is available in the quarterly results section of investor.lpl.com.

    Contacts

    Investor Relations
    investor.relations@lplfinancial.com

    Media Relations
    media.relations@lplfinancial.com

    About LPL Financial

    LPL Financial Holdings Inc. (Nasdaq: LPLA) is among the fastest growing wealth management firms in the U.S. As a leader in the financial advisor-mediated marketplace, LPL supports over 29,000 financial advisors and the wealth management practices of approximately 1,200 financial institutions, servicing and custodying approximately $1.8 trillion in brokerage and advisory assets on behalf of approximately 7 million Americans. The firm provides a wide range of advisor affiliation models, investment solutions, fintech tools and practice management services, ensuring that advisors and institutions have the flexibility to choose the business model, services, and technology resources they need to run thriving businesses. For further information about LPL, please visit www.lpl.com.

    Securities and advisory services offered through LPL Financial LLC (“LPL Financial”) and LPL Enterprise, LLC (“LPL Enterprise”), both registered investment advisers and broker-dealers. Member FINRA/SIPC.

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

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

    The MIL Network

  • MIL-OSI Canada: SGI Delivers Steady Fiscal Management in 2024-25

    Source: Government of Canada regional news

    Released on June 23, 2025

    SGI has released its 2024-25 Annual Reports, detailing a year marked by resilience, innovation, strategic investments, and a continued commitment to community safety and customer service.  

    “In 2024-25, SGI faced economic pressures, caused by rising claim costs, inflation, higher vehicle repair costs and extreme weather,” Minister Responsible for SGI Jeremy Harrison said. “Despite this, SGI’s strategic investment approach delivered affordable auto insurance rates and an $18.0 million dividend to support our government’s investments in services and infrastructure that benefit Saskatchewan families, communities and businesses.” 

    Saskatchewan Auto Fund*  

    Despite challenges, the Auto Fund maintained its commitment to affordability, customer service and traffic safety.   

    Auto Fund highlights for 2024-25 include: 

    • $1.170 billion in total net claims incurred.
    • $1.127 billion in gross premium written.
    • $181.1 million in discounts to customers through the Safe Driver Recognition (SDR) and Business Recognition programs.
    • $257.7 million in investment earnings.
    • The Auto Fund continued to provide customers among the lowest auto insurance rates, on average, in Canada.
    • The Provincial Traffic Safety Fund grant program awarded $2.9 million in grants to 137 Saskatchewan community projects for road safety improvements. 
    • $726.9 million in the Rate Stabilization Reserve, after a reduction of $198.0 million.

    *The Saskatchewan Auto Fund is the self-sustaining, compulsory auto insurance plan administered by SGI on behalf of the province. The Auto Fund operates on a break-even basis over time. 

    SGI CANADA**

    SGI CANADA reported solid financial performance, achieving net income of $43.2 million. This allowed the company to return a dividend of $18.0 million to the people of Saskatchewan. 

    Other SGI CANADA highlights in 2024-25: 

    • $1.425 billion in gross premium written.
    • Premium growth of 3.8 per cent (all provinces).
    • $132.9 million in investment earnings.
    • $97.3 million in net catastrophe claim losses.  
    • A multi-year, $2.0 million commitment to YWCA Regina to help fund the healing lodge at the new kikaskihtânaw Centre for Women and Families. 

    **SGI CANADA is the competitive side of SGI, offering property and casualty insurance in Saskatchewan, Alberta, Manitoba, Ontario and British Columbia. SGI CANADA sells products through a network of close to 300 brokers who operate in more than 1,800 locations. 

    To see SGI’s full annual reports, visit: 

    Auto Fund: sgi.sk.ca/news-title=2024-25-financial-statements.

    SGI CANADA: sgicanada.ca/news-title=2024-25-financial-statements.

    -30-

    For more information, contact:

    Heather Hubic
    SGI
    Regina
    Phone: 306-751-1837
    Email: mediainquiries@sgi.sk.ca
    Cell: 306-510-0404

    MIL OSI Canada News

  • MIL-OSI Canada: Lotteries and Gaming Saskatchewan Delivers Record Payments and Dividends

    Source: Government of Canada regional news

    Released on June 23, 2025

    Lotteries and Gaming Saskatchewan’s (LGS’s) 2024-25 Annual Report, released today, shows net income before payments to the province’s General Revenue Fund (GRF) of $358.5 million on revenue of $742.6 million. Payments to the GRF were $135.0 million, resulting in net income after payments to the GRF of $223.5 million.

    The report, covering LGS’s first full year of operations, also shows dividends to LGS’s shareholder, Crown Investments Corporation (CIC), of $190.0 million, which is the largest annual dividend declared by any commercial Crown corporation in CIC’s history.

    LGS delivered this success on behalf of the people and businesses of Saskatchewan in partnership with its four gaming operators – SaskGaming, the Saskatchewan Indian Gaming Authority (SIGA), Western Canada Lottery Corporation (WCLC), and Sask Sport.

    “The record payments provided by Lotteries and Gaming Saskatchewan in 2024-25 delivered a better quality of life for Saskatchewan families,” Minister Responsible for LGS Jeremy Harrison said. “More than 12,000 sport, culture and recreation groups benefited from $71.9 million in payments and $7.8 million in charitable gaming grants supported over 2,700 non-profit and charitable organizations throughout our province. Historic dividends also enabled our government to make important investments in priority areas including affordability, health care, education and community safety.”

    “These stellar results were driven by increased guest spending in land-based casinos, online gaming, and VLTs resulting from strong economic conditions in the province,” LGS President and CEO Susan Flett said. “LGS also delivered for local businesses across the province this fiscal year with commissions totalling $61.1 million earned by VLT site contractors and lottery retailers.”

    In 2024-25, proceeds from gaming in Saskatchewan were delivered as follows:

    • $190.0 million in total dividends declared by LGS to be paid to CIC (much of this flows to the GRF to help fund government priorities).
    • $81.2 million to the First Nations Trust which distributes proceeds to Saskatchewan First Nations for a range of purposes that benefit communities.
    • $71.9 million to Sask Sport, SaskCulture, and the Saskatchewan Parks and Recreation Association to help support more than 12,000 sport, culture and recreation groups in communities across Saskatchewan.
    • $47.4 million in commissions earned by more than 560 VLT site contractors across the province.
    • $32.7 million to Community Development Corporations which distribute a portion of profits generated by casinos to First Nation and non-First Nation organizations in the communities in which SIGA casinos are located.
    • $13.7 million in commissions earned by about 1,000 lottery retailers across the province.
    • $11.1 million in community sponsorships and exhibition association payments from Saskatchewan’s two land-based casino operators SIGA and SaskGaming.
    • $7.8 million in charitable gaming grants paid by LGS to nonprofit and charitable organizations across the province.
    • $7.2 million to the Community Initiatives Fund which offers financial support to Saskatchewan community projects.
    • $6.7 million from the lottery licensing fee (paid by Sask Sport to LGS) to the GRF to help fund government priorities.
    • $4.2 million to the Clarence Campeau Development Fund which helps support Métis businesses, entrepreneurs and communities.
    • $3.0 million to the First Nations Addictions Rehabilitation Foundation.

    LGS was established in 2023 as the provider of conduct and management for casinos, VLTs, lotteries and online gaming in Saskatchewan, including oversight of PlayNow, the province’s only legal online gaming platform.

    -30-

    For more information, contact:

    MIL OSI Canada News

  • MIL-OSI USA: Warner & Kaine Call on GOP to Drop Health Care Cuts that will Saddle More Working Families with Medical Debt

    US Senate News:

    Source: United States Senator for Commonwealth of Virginia Mark R Warner

    WASHINGTON – U.S. Sens. Mark R. Warner and Tim Kaine (both D-VA) today urged their colleagues to reject proposed Republican Medicaid cuts that are projected to inflict severe harm on millions of families, citing a new analysis estimating that the GOP’s plans to slash health care would push 5.4 million people – including 2.2 million people currently on Medicaid and 3.2 million people with coverage through the Affordable Care Act – into medical debt and increase the total medical debt that Americans owe by $50 billion – a 15 percent jump.

    “Health coverage is prevention. It’s not just treating illness; it’s protecting families from financial ruin. Republicans are trying to gut Medicaid to give tax breaks to the wealthy, and working families will pay the price with their health, their homes, and their financial futures. We should be focused on expanding access to health care and lowering costs, not ripping coverage away and sticking people with thousands of dollars in new debt. We’re calling on our Republican colleagues to drop this dangerous proposal before it’s too late,” said the senators.

    Recent analysis published by Third Way, a centrist think tank, found that families losing coverage because of the Republican health care cuts could see their medical debt increase by as much as $22,800. The analysis found that, if the GOP plan is enacted, 107,001 more people in Virginia will be saddled with medical debt, and the amount of medical debt across Virginia would increase by $1,001,789,466.

    Medical debt already affects 100 million people in the U.S., amounting to $269 billion in unpaid medical bills. According to a recent Gallup survey, 31 million Americans report having to borrow nearly $74 billion between 2023 and 2024 to pay for health care, and 58 percent of Americans believe they would experience medical debt if faced with a health event. Despite that, Republicans in Congress are pushing a package that, if enacted, will impose the largest cuts to health care in U.S. history and lead to 16 million people in the U.S. losing health insurance coverage.

    Sens. Warner and Kaine have been sounding the alarm about the effects of the GOP plan on Virginia families if Republicans in Congress continue to insist on gutting vital programs in order to pay for tax breaks for the richest Americans, noting that the GOP bill would strip health insurance from more than 302,000 Virginians, cut SNAP benefits, raise energy costs for Virginia households, jeopardize more than 20,000 Virginia jobs, raise taxes on minimum wage workers while giving the richest 0.1% a $188,000 tax cut, make tax filing more expensive, explode the deficit, and devastate rural communities.

    MIL OSI USA News

  • MIL-OSI United Kingdom: PM meeting with President Zelenskyy of Ukraine: 23 June 2025

    Source: United Kingdom – Executive Government & Departments

    Press release

    PM meeting with President Zelenskyy of Ukraine: 23 June 2025

    The Prime Minister welcomed President Zelenskyy to Downing Street this afternoon.

    The Prime Minister welcomed President Zelenskyy to Downing Street this afternoon.

    The Prime Minister began by sharing his condolences with President Zelenskyy on the deaths of five Ukrainians following Russian strikes overnight.

    Looking ahead to the upcoming NATO Summit in The Hague, the leaders welcomed the Secretary General’s focus on the Alliance’s steadfast support, including through significant pledges of financial support from Allies.

    The Prime Minister reiterated the importance of ensuring Ukraine’s Armed Forces had the defensive equipment they needed to push back Russian forces, while also working towards a just and lasting peace.

    Discussing how the UK and Ukraine could go further on military cooperation, the leaders discussed opportunities to expand industrial collaboration between defence companies in both countries.

    Turning to Coalition of the Willing planning, the leaders agreed the grouping should convene virtually in the coming weeks to update members on next steps.

    Both looked forward to seeing one another again at The Hague Summit tomorrow.

    Updates to this page

    Published 23 June 2025

    MIL OSI United Kingdom

  • MIL-OSI Canada: Delivering Growth Through Collaboration and Innovation: SaskTel Reports Net Income of $82.2 Million in 2024-25

    Source: Government of Canada regional news

    Released on June 23, 2025

    Today, SaskTel released both its Annual Report and Sustainability Report for the 2024-25 fiscal year, highlighting its financial results and initiatives and best practices driving sustainability, equity and prosperity for the province of Saskatchewan. Financial results for the 2024-25 fiscal year include net income of $82.2 million and operating revenues of $1,364.9 million. These results show SaskTel’s commitment to delivering competitive services and enhancing its world-class networks to enrich everyday life in Saskatchewan.

    “Our government and SaskTel’s commitment to delivering for Saskatchewan remains as strong as ever,” Minister Responsible for SaskTel Jeremy Harrison said. “The significant investments made by SaskTel in 2024-25 will ensure that more families, businesses, and communities across the province have access to the advanced communications networks and technologies that they need to succeed and grow in a developing smart economy.” 

    “In a time of evolution and change in the telecommunications industry, one thing that remains constant is SaskTel’s commitment to empowering Saskatchewan people, organizations and communities to reach their full potential,” SaskTel President and Chief Executive Officer Charlene Gavel said. “Thanks to the substantial investments made in 2024-25, our ongoing progress toward bringing SaskTel’s 5G and infiNET networks to more communities is already driving new economic activity and helping to ready our province for whatever comes next in the tech landscape.”

    SaskTel’s revenue is composed primarily of wireless network services and equipment revenue (49.5 per cent), fixed broadband and data services (23.4 per cent), wireline communication services (10.6 per cent), and maxTV service (7.2 per cent).

    Financial Highlights

    SaskTel’s financial measures focus on shareholder value, revenue and earnings generation and the efficient use of its capital investments. These measures provide insight into its current financial performance and contribute to its long-term financial stability. 

    SaskTel declared dividends of $32.9 million to Crown Investments Corporation during the fiscal year ending March 31, 2025, while maintaining a debt ratio within industry standards. 

    At the close of the fiscal year 2024-25, SaskTel’s debt ratio increased to 56.5 per cent, an increase of 50 basis points from the previous year. The overall level of net debt increased $99.2 million, primarily to fund continued investment in its fibre and 5G networks through investment in property, plant and equipment and intangible assets.

    Revenue for the fiscal year was $1,364.9 million, an increase of $16.4 million reflecting growth in key business segments including wireless network services and equipment, fixed broadband and data services, maxTV service and IT solutions services. The increase in wireless network services and equipment revenue reflects the growth in SaskTel’s wireless retail subscriber base and increased wholesale revenues. Fixed broadband and data services revenue growth was driven by SaskTel’s Rural Fibre Initiative, which continues to expand the company’s fibre footprint resulting in increased customer connections. IT solutions services revenue growth reflects increased adoption of SaskTel’s cybersecurity solutions, data centre offerings and managed IT services. 

    SaskTel invested $398.5 million of capital in 2024-25 to bring SaskTel infiNET service to more homes and businesses and grow the reach of its 5G wireless network. These investments enhance the reliability and resiliency of SaskTel’s networks and position Saskatchewan for success in the smart economy.

    Wireless spending, including 5G, LTE, and Wi-Fi, accounted for $130.1 million of the $398.5 million total, while $108.5 million was invested in SaskTel’s Fibre-to-the-X program (FTTx). These significant investments, along with the rest of the capital expenditures, have enhanced SaskTel’s systems and networks, our provincial economy and will prepare Saskatchewan to thrive and succeed in a developing smart economy.

    SaskTel’s wireless network covers over 99 per cent of the population with more than 1,000 cell towers, over 700 of which are in rural parts of the province. As of March 31, 2025, SaskTel had converted more than 700 wireless sites to the 5G network, serving 88 per cent of the province’s population with 5G. As this network evolves, it will support things such as the development of smart communities and technological innovations in agriculture, virtual health care and immersive education.

    SaskTel’s FTTx program continued to bring infiNET, SaskTel’s fibre optic network, to homes and businesses across the province. infiNET delivers up to gigabit per second speeds, allowing customers to surf, stream and share more content faster than ever before. As of March 31, 2025, the network was available in 111 communities.

    Further, SaskTel’s Aurora Program was launched last summer following an announcement that the company had received funding from the Federal Government’s Universal Broadband Fund. The program encompasses four significant projects to improve connectivity in Northern Saskatchewan and since the Aurora Program was launched, SaskTel has made significant progress in bringing fibre cabling through the Hanson Lake Road area (Highway 106).

    Sustainability Highlights

    In 2024-25, SaskTel also continued to make a social impact in our province through numerous sponsorships and partnerships as well as the generosity of SaskTel employees. SaskTel contributed $3,094,714 to 1,048 non-profit and charitable organizations, community associations, venues, events and partnerships in 260 communities throughout the province during the 2024-25 fiscal year. 

    At a time when charities and non-profits are seeing growing demand for services, SaskTel’s employees showed their dedication by making a positive difference in their communities through volunteer hours and donations. With nearly 3,700 members, including current and retired employees, SaskTel Pioneers contributed over 25,280 volunteer hours and $1,036,620 in donations to non-profit organizations. SaskTel TelCare, the employee-driven charitable donation program, donated nearly $190,000 to 47 charitable and non-profit organizations operating across Saskatchewan, a number which includes SaskTel’s 50 per cent match.

    Additional SaskTel social impact initiatives include:

    Connecting with Community Challenge

    Through the 2025 Connecting with Community Challenge, SaskTel employees, along with the SaskTel Pioneers raised $15,000 for the Saskatchewan Roughrider Foundation to help fund youth mental wellness programs.

    The Connecting with Community Challenge worked in tandem with Pink Shirt Day and SaskTel Be Kind Online to encourage employees to perform acts of kindness, such as helping colleagues, volunteering, or supporting local causes. Each reported act of kindness counted as a $5 donation toward the Saskatchewan Roughrider Foundation.

    SaskTel Phones for a Fresh Start

    In partnership with the Ministry of SaskBuilds and Procurement, SaskTel Phones for a Fresh Start provided 341 cell phones and $8,000 worth of phone cards to the Provincial Association of Transition Houses and Services of Saskatchewan (PATHS) in 2024-25.

    SaskTel Phones for a Fresh Start provides wireless phones and phone cards to PATHS member agencies to assist individuals fleeing domestic abuse as well as youth transitioning out of permanent or long-term care from the Ministry of Social Services. By collecting and recycling old wireless phones, the program aims to minimize Saskatchewan’s environmental footprint while helping those in need. 

    SaskTel’s Annual Report and Sustainability Report provide comprehensive insights into the company’s financial performance, strategic initiatives and commitment to sustainable practices. These reports not only highlight SaskTel’s achievements and growth over the past year, but also underscore its dedication to transparency, accountability and long-term value creation for our stakeholders. By detailing our efforts in environmental stewardship, social responsibility and governance, we aim to foster trust and demonstrate our unwavering commitment to building a sustainable future for our community and beyond.

    For more information, including the full Annual and Sustainability report, please visit: sasktel.com/about-us.

    -30-

    For more information, contact:

    Media Relations

    MIL OSI Canada News

  • MIL-OSI Canada: Crown Sector Delivered Quality Services and Value for Saskatchewan in 2024-25

    Source: Government of Canada regional news

    Released on June 23, 2025

    Crown Investments Corporation (CIC) and its subsidiary Crowns delivered the second lowest utility bundle in Canada and a record infrastructure investment in 2024-25. CIC’s annual report released today highlights the sector’s commitment to reliable and affordable quality services to customers and strong financial management of Saskatchewan’s Crown corporations. 

    ” Saskatchewan’s Crown sector continues to support the continued growth of our province’s economy through buying local, investing in infrastructure, and delivering essential services to families, communities, businesses and industry,” Crown Investments Corporation Minister Jeremy Harrison said. “Our Crown corporations worked diligently in 2024-25 to deliver some of the most affordable utility costs in the country. The Crowns’ record investments in building and maintaining systems continue to support service reliability, local economies and the demand from growth across the province.”  

    On behalf of its subsidiary Crowns, CIC provided strong financial returns to Saskatchewan, contributing $240 million in dividends to the General Revenue Fund, supporting provincial priorities including affordability measures, health care, education and community safety. Improved earnings at SaskEnergy and the Lotteries and Gaming Saskatchewan contributed to the positive financial result.

    Together, the Crown corporations invested a record $2.2 billion in infrastructure in 2024-25. A large portion of this investment was from SaskPower to support reliable electricity, including the completion of the Great Plains Power Station near Moose Jaw and the construction of the Aspen Power Station near Lanigan. SaskTel continued to strengthen its cellular and fibre optic networks, delivering the fastest internet, Wi-Fi and 5G mobile technologies in Saskatchewan. These capital projects have created an attractive investment environment for the province, provided quality local jobs and supported vendors here at home.

    The sector delivered on Saskatchewan’s priorities – enhancing Indigenous education and employment opportunities, making traffic safety improvements in cities, towns and villages, supporting thousands of non-profit and community organizations and groups, and continuing its contributions to STARS Air Ambulance to provide critical care for seriously ill and injured patients. 

    The 2024-25 Annual Report for Crown Investments Corporation is available online at www.cicorp.sk.ca.

    -30-

    For more information, contact:

    Media Relations
    Crown Investments Corporation
    Regina
    Phone: 306-787-7732
    Email: Communications@cicorp.sk.ca

    MIL OSI Canada News

  • MIL-OSI Canada: Delivering for Customers, Communities and Saskatchewan: SaskEnergy 2024-25 Annual Report

    Source: Government of Canada regional news

    Released on June 23, 2025

    In 2024-25, SaskEnergy demonstrated its commitment to providing safe, reliable and affordable energy to the residents, businesses and industries of Saskatchewan as the demand for natural gas in the province continues to grow.

    “With Saskatchewan having one of the fastest growing economies in Canada and a record high population, there is an increasing demand for natural gas,” Minister Responsible for SaskEnergy Jeremy Harrison said. “SaskEnergy continues to reliably meet this demand, investing in system expansion, enhancing customer service, supporting energy efficiency and maintaining stable, affordable rates for Saskatchewan families, businesses and industries.”

    In 2024-25, SaskEnergy invested $171 million in system expansion and reliability initiatives. The Corporation completed system expansion projects to serve new and expanding customer operations in enhanced oil recovery, potash production and power generation, as well as projects to support growth and reliability in the Regina area. 

    SaskEnergy leveraged strong operating and financial results, along with ongoing efficiency efforts, to ensure that the average total natural gas bills for residential customers remained competitive in 2024-25, with delivery rates among the lowest in Canada.

    SaskEnergy continues to assist its customers in reducing their energy use, while also lowering their monthly bills. In 2024-25, SaskEnergy maintained its range of energy efficiency incentives for residential and commercial customers, including the Residential Equipment Replacement Rebate, First Nations Furnace Replacement Rebate and Homes Beyond Code rebate. Through these programs, $5 million in rebates were provided to residential and commercial customers who made energy-efficiency improvements to their homes and businesses. 

    “SaskEnergy’s ability to deliver safe, reliable and accessible service, while providing competitive rates and high levels of customer service, to our nearly 415,000 customers is a testament to the hard work and dedication of our more than 1,200 employees across the province,” SaskEnergy President and CEO Mark Guillet said. 

    “While investing in our system and our customer base, we are also dedicated to strengthening Saskatchewan’s economy by investing in its people and businesses. In 2024-25, we purchased nearly $300 million in goods and services from local vendors, which accounted for 66 per cent of our procurement spending. In addition, $33.2 million in contracts were awarded to Saskatchewan businesses with Indigenous ownership or Indigenous workforce representation.”

    In 2024-25, SaskEnergy recorded a net income before unrealized market value adjustments of $82 million, compared to $55 million the year prior. The increase is primarily driven by year-over-year increases in delivery and transportations revenues, as well as higher customer contributions to capital projects.

    SaskEnergy declared a dividend of $31 million to Crown Investments Corporation (CIC) based on income before unrealized market value adjustments. 

    Other highlights for 2024-25 include:

    • Capital spending of $265.8 million net of customer capital contributions.
    • Celebrated the 30th anniversary of SaskEnergy’s Share the Warmth program – marking the milestone by providing grants of up to $1,000 to more than 100 community-based organizations.
    • Supported 622 programs and events in 268 communities through community investment initiatives.
    • Signed a Memorandum of Understanding with the First Nations Power Authority to explore energy security solutions for First Nations communities and increase Indigenous economic participation through cleaner energy initiatives.
    • Achieved $5.6 million in cost savings through efficient procurement practices.
    • Received national recognition for the third consecutive year as one of Canada’s Top 100 Employers.
    • Reduced emissions from its operations by 18,000 tonnes of carbon dioxide equivalent (CO2e). 

    View SaskEnergy’s 2024-25 Annual Report here.

    -30-

    For more information, contact:

    MIL OSI Canada News

  • MIL-OSI USA: CFTC Staff Issues No-Action Letter Extension Regarding Non-U.S. Swap Dealers

    Source: US Commodity Futures Trading Commission

    CFTC Staff Issues No-Action Letter Extension Regarding Non-U.S. Swap Dealers | CFTC

    /PressRoom/PressReleases/9088-25
    Skip to main content

    June 23, 2025

    WASHINGTON, D.C. — The Commodity Futures Trading Commission’s Division of Market Oversight today issued a no-action letter extending the no-action position of CFTC Letter No. 22-14 concerning certain swap reporting requirements of Part 45 and Part 46 of the CFTC’s regulations.  

    The letter applies to certain non-U.S. swap dealers and non-U.S. major swap participants established in Australia, Canada, the European Union, Japan, Switzerland or the United Kingdom, that are not part of an affiliated group in which the ultimate parent entity is a U.S. swap dealer, U.S. major swap participant, U.S. bank, U.S. financial holding company or U.S. bank holding company.  

    -CFTC-

    MIL OSI USA News

  • MIL-OSI Security: Florida Nonprofit Founder and Accountant Charged with Stealing Over $100 Million From Special Needs Victims

    Source: US FBI

    Tampa, FL – United States Attorney Gregory W. Kehoe announces the  unsealing of an indictment charging Leo John Govoni (67, Clearwater) and John Leo Witeck (60, Tampa) in connection with a fraud scheme that involved stealing more than $100 million from, and ultimately bankrupting, a non-profit organization in Clearwater that managed funds for vulnerable individuals with special needs and disabilities.

    Govoni and Witeck are charged with one count of conspiracy to commit wire and mail fraud, three counts of mail fraud, six counts of wire fraud, and one count of conspiracy to commit money laundering. Govoni is also charged separately with one count of bank fraud, one count of illegal monetary transaction, and one count of making a false bankruptcy declaration. The bank fraud offense carries a maximum penalty of 30 years in prison. Each count of wire fraud, mail fraud, conspiracy to commit wire and mail fraud, and the money laundering conspiracy offense carries a maximum penalty of 20 years’ imprisonment. The illegal monetary transaction count carries a maximum penalty of 10 years in federal prison and the false bankruptcy declaration carries a maximum penalty of 5 years’ imprisonment. 

    According to the indictment and court documents, around the year 2000, Govoni co-founded the Center for Special Needs Trust Administration (CSNT), a non-profit that managed funds for individuals with disabilities and other special needs, including those who received settlements, court awards, and other payments. CSNT grew to be one of the largest administrators of special needs trusts in the country, with beneficiaries located in Florida and nationwide. As of February 2024, CSNT managed more than 2,100 special needs trusts containing approximately $200 million in assets.

    As alleged in the indictment, from June 2009 through May 2025, Govoni, Witeck, and their co-conspirators solicited, stole, and misappropriated CSNT client-beneficiary funds—which they treated as a slush fund to enrich themselves and others—and concealed their illegal activities through complex financial transactions and deceit, including sending fraudulent account statements with false balances to disabled victims and their families. Govoni allegedly used stolen money to purchase real estate, travel via private jet, fund a brewery, make deposits in his personal bank accounts, and pay debts. In February 2024, CSNT filed for bankruptcy and disclosed that more than $100 million in client-beneficiary funds was missing from its trust accounts.

    Govoni is also charged with bank fraud related to a $3 million mortgage refinance loan and the alleged laundering of $205,054 of the fraud proceeds to pay off a home equity line of credit on his residence. Govoni is further alleged to have made false declarations to the bankruptcy court related to the CSNT bankruptcy proceedings.

    “Protecting the most vulnerable members of our society is a priority of the U.S. Attorney’s Office,” said U. S. Attorney Gregory W. Kehoe for the Middle District of Florida. “The fraud alleged in this nationwide scheme is unfathomable. Due to the diligence and interagency collaboration by our dedicated law enforcement partners, these crimes will be prosecuted to the fullest extent of the law.”

    “The subjects charged are accused of creating a slush fund to divert millions of dollars away from a nonprofit organization helping people with special needs,” said Assistant Director Jose A. Perez of the FBI Criminal Investigative Division. “Not only were the organization’s resources drained, but the accused subjects betrayed the trust of the community and ultimately bankrupted a lifeline for vulnerable families. The FBI will not tolerate the exploitation of charitable missions for personal enrichment.”

    “The scale and audacity of the alleged fraud in this case are deeply troubling,” said Criminal Investigation Chief Guy Ficco of the IRS. “Stealing funds intended to protect and support people with special needs is as cruel as it is criminal. IRS-CI special agents are dedicated to uncovering complex financial schemes, especially those that prey on the most vulnerable in our society.”

    “The defendant disrupted access to critical services for individuals with disabilities and defrauded federal health care programs with the sole purpose of financing a life of extravagance,” stated Deputy Inspector General for Investigations Christian J. Schrank of the U. S. Department of Health and Human Services Office of Inspector General (HHS-OIG). “HHS-OIG, in collaboration with our law enforcement partners, will continue to hold those who’s illicit actions seek to assail enrollees and the nation’s federal health care programs fully accountable.”

    An indictment is merely a formal charge that a defendant has committed one or more violations of federal criminal law, and every defendant is presumed innocent unless, and until, proven guilty.

    This case was investigated by the Federal Bureau of Investigation, the Internal Revenue Service – Criminal Investigation, the U.S. Department of Health and Human Services – Office of Inspector General, and the Social Security Administration – Office of the Inspector General. It will be prosecuted by Assistant United States Attorneys Jennifer Peresie and Michael Gordon and Department of Justice Trial Attorney Lyndie Freeman of the Criminal Division’s Fraud Section.

    MIL Security OSI

  • MIL-OSI Security: Florida Nonprofit Founder and Accountant Charged with Stealing Over $100 Million From Special Needs Victims

    Source: US FBI

    Tampa, FL – United States Attorney Gregory W. Kehoe announces the  unsealing of an indictment charging Leo John Govoni (67, Clearwater) and John Leo Witeck (60, Tampa) in connection with a fraud scheme that involved stealing more than $100 million from, and ultimately bankrupting, a non-profit organization in Clearwater that managed funds for vulnerable individuals with special needs and disabilities.

    Govoni and Witeck are charged with one count of conspiracy to commit wire and mail fraud, three counts of mail fraud, six counts of wire fraud, and one count of conspiracy to commit money laundering. Govoni is also charged separately with one count of bank fraud, one count of illegal monetary transaction, and one count of making a false bankruptcy declaration. The bank fraud offense carries a maximum penalty of 30 years in prison. Each count of wire fraud, mail fraud, conspiracy to commit wire and mail fraud, and the money laundering conspiracy offense carries a maximum penalty of 20 years’ imprisonment. The illegal monetary transaction count carries a maximum penalty of 10 years in federal prison and the false bankruptcy declaration carries a maximum penalty of 5 years’ imprisonment. 

    According to the indictment and court documents, around the year 2000, Govoni co-founded the Center for Special Needs Trust Administration (CSNT), a non-profit that managed funds for individuals with disabilities and other special needs, including those who received settlements, court awards, and other payments. CSNT grew to be one of the largest administrators of special needs trusts in the country, with beneficiaries located in Florida and nationwide. As of February 2024, CSNT managed more than 2,100 special needs trusts containing approximately $200 million in assets.

    As alleged in the indictment, from June 2009 through May 2025, Govoni, Witeck, and their co-conspirators solicited, stole, and misappropriated CSNT client-beneficiary funds—which they treated as a slush fund to enrich themselves and others—and concealed their illegal activities through complex financial transactions and deceit, including sending fraudulent account statements with false balances to disabled victims and their families. Govoni allegedly used stolen money to purchase real estate, travel via private jet, fund a brewery, make deposits in his personal bank accounts, and pay debts. In February 2024, CSNT filed for bankruptcy and disclosed that more than $100 million in client-beneficiary funds was missing from its trust accounts.

    Govoni is also charged with bank fraud related to a $3 million mortgage refinance loan and the alleged laundering of $205,054 of the fraud proceeds to pay off a home equity line of credit on his residence. Govoni is further alleged to have made false declarations to the bankruptcy court related to the CSNT bankruptcy proceedings.

    “Protecting the most vulnerable members of our society is a priority of the U.S. Attorney’s Office,” said U. S. Attorney Gregory W. Kehoe for the Middle District of Florida. “The fraud alleged in this nationwide scheme is unfathomable. Due to the diligence and interagency collaboration by our dedicated law enforcement partners, these crimes will be prosecuted to the fullest extent of the law.”

    “The subjects charged are accused of creating a slush fund to divert millions of dollars away from a nonprofit organization helping people with special needs,” said Assistant Director Jose A. Perez of the FBI Criminal Investigative Division. “Not only were the organization’s resources drained, but the accused subjects betrayed the trust of the community and ultimately bankrupted a lifeline for vulnerable families. The FBI will not tolerate the exploitation of charitable missions for personal enrichment.”

    “The scale and audacity of the alleged fraud in this case are deeply troubling,” said Criminal Investigation Chief Guy Ficco of the IRS. “Stealing funds intended to protect and support people with special needs is as cruel as it is criminal. IRS-CI special agents are dedicated to uncovering complex financial schemes, especially those that prey on the most vulnerable in our society.”

    “The defendant disrupted access to critical services for individuals with disabilities and defrauded federal health care programs with the sole purpose of financing a life of extravagance,” stated Deputy Inspector General for Investigations Christian J. Schrank of the U. S. Department of Health and Human Services Office of Inspector General (HHS-OIG). “HHS-OIG, in collaboration with our law enforcement partners, will continue to hold those who’s illicit actions seek to assail enrollees and the nation’s federal health care programs fully accountable.”

    An indictment is merely a formal charge that a defendant has committed one or more violations of federal criminal law, and every defendant is presumed innocent unless, and until, proven guilty.

    This case was investigated by the Federal Bureau of Investigation, the Internal Revenue Service – Criminal Investigation, the U.S. Department of Health and Human Services – Office of Inspector General, and the Social Security Administration – Office of the Inspector General. It will be prosecuted by Assistant United States Attorneys Jennifer Peresie and Michael Gordon and Department of Justice Trial Attorney Lyndie Freeman of the Criminal Division’s Fraud Section.

    MIL Security OSI

  • MIL-OSI: Brompton Funds Declares Distributions

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, June 23, 2025 (GLOBE NEWSWIRE) — (TSX: BAAA, BAAA.U) Brompton Funds announces distributions for Brompton Wellington Square AAA CLO ETF payable on July 15, 2025 to unitholders of record at the close of business on June 30, 2025 as follows:

    Ticker Amount Per Unit  
    BAAA Cdn$0.086  
    BAAA.U US$0.08722  
         

    About Brompton Funds
    Founded in 2000, Brompton is an experienced investment fund manager with income and growth focused investment solutions including TSX traded closed-end funds and exchange-traded funds. For further information, please contact your investment advisor, call Brompton’s investor relations line at 416-642-6000 (toll-free at 1-866-642-6001), email info@bromptongroup.com or visit our website at www.bromptongroup.com.

    About Wellington Square
    Wellington Square Advisors Inc. (“Wellington Square”) is a Toronto-based independent investment advisory led by portfolio managers Jeff Sujitno and Amar Dhanoya. Wellington Square has invested in CLOs for over 10 years with certain staff having specialized expertise gained from working for CLO managers.

    Commissions, management fees and expenses all may be associated with exchange-traded fund investments.  Please read the prospectus before investing. Exchange-traded funds are not guaranteed, their values change frequently and past performance may not be repeated.

    Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this press release and to other matters identified in public filings relating to the fund, to the future outlook of the fund and anticipated events or results and may include statements regarding the future financial performance of the fund. In some cases, forward-looking information can be identified by terms such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “predict”, “potential”, “continue” or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and we assume no obligation to update or revise them to reflect new events or circumstances.

    The MIL Network

  • MIL-OSI: Brompton Funds Declares Distributions

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, June 23, 2025 (GLOBE NEWSWIRE) — (TSX: BAAA, BAAA.U) Brompton Funds announces distributions for Brompton Wellington Square AAA CLO ETF payable on July 15, 2025 to unitholders of record at the close of business on June 30, 2025 as follows:

    Ticker Amount Per Unit  
    BAAA Cdn$0.086  
    BAAA.U US$0.08722  
         

    About Brompton Funds
    Founded in 2000, Brompton is an experienced investment fund manager with income and growth focused investment solutions including TSX traded closed-end funds and exchange-traded funds. For further information, please contact your investment advisor, call Brompton’s investor relations line at 416-642-6000 (toll-free at 1-866-642-6001), email info@bromptongroup.com or visit our website at www.bromptongroup.com.

    About Wellington Square
    Wellington Square Advisors Inc. (“Wellington Square”) is a Toronto-based independent investment advisory led by portfolio managers Jeff Sujitno and Amar Dhanoya. Wellington Square has invested in CLOs for over 10 years with certain staff having specialized expertise gained from working for CLO managers.

    Commissions, management fees and expenses all may be associated with exchange-traded fund investments.  Please read the prospectus before investing. Exchange-traded funds are not guaranteed, their values change frequently and past performance may not be repeated.

    Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this press release and to other matters identified in public filings relating to the fund, to the future outlook of the fund and anticipated events or results and may include statements regarding the future financial performance of the fund. In some cases, forward-looking information can be identified by terms such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “predict”, “potential”, “continue” or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and we assume no obligation to update or revise them to reflect new events or circumstances.

    The MIL Network

  • MIL-OSI Africa: African Island States Advance Ocean Partnerships and Finance Innovation at United Nations (UN) Ocean Conference


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    In a high-profile gathering during the Third United Nations Ocean Conference (UNOC3), the African Island States Climate Commission (AISCC), in partnership with the United Nations Economic Commission for Africa (ECA) and the Indian Ocean Commission (IOC), convened a High-Level Dialogue aimed at strengthening ocean partnerships and mobilizing innovative finance to support sustainable development across African Small Island Developing States. With participation from ministers, ambassadors, and senior officials representing island nations, United Nations agencies, and global development partners, the Dialogue marked a significant step toward aligning regional leadership, blue economy priorities, and climate finance strategies in pursuit of Sustainable Development Goal 14 (SDG14).

    Held as an official side event in the UNOC3 Blue Zone, the Dialogue was guided by the theme “Strengthening Ocean Partnerships for Resilience and Sustainable Finance: Charting a Blue Future for African Island States and AIS SIDS.”

    Discussions emphasized the unique vulnerabilities of African Island States, the need for coordinated climate and ocean governance, and the urgency of unlocking scalable, long-term financing solutions tailored to the needs of island nations.

    Opening the event, Flavien Joubert, Chair of the AISCC and Minister of Agriculture, Climate Change and Environment for the Republic of Seychelles, described the conference as a unique opportunity for African Island States and Small Islands Developing States (SIDS) to demonstrate global leadership on ocean sustainability. He called for stronger cooperation across SIDS regions and emphasized the central role of the AISCC as an innovative platform for climate action and diplomacy. Minister Joubert highlighted existing partnerships with ECA, IOC, and the Green Climate Fund (GCF) as examples of how African island nations are working together to mobilize resources and build collective resilience. He reaffirmed Seychelles’ commitment to lead the AISCC in a spirit of solidarity and inclusion, “ensuring no island state is left behind.”

    United Nations Under-Secretary-General for Economic and Social Affairs, Li Junhua, who served as Secretary-General of both the UNOC3 and the Fourth International Conference on SIDS (SIDS4), reiterated the UN’s full support for African SIDS. He noted that the Monitoring and Evaluation Framework for the Antigua and Barbuda Agenda for SIDS (ABAS) is nearing completion, and that work is underway to establish governance mechanisms for implementing the Multidimensional Vulnerability Index (MVI). Li also pointed to reforms in the SIDS Partnership Framework as part of ongoing efforts to ensure more effective and accountable cooperation with the international community.

    Nassim Oulmane, Head of the Natural Resources, Green and Blue Economy Section at ECA, stated in his welcoming remarks that this Dialogue builds on momentum from key AISCC high-level events convened at the UNFCCC COP28, COP29, African Climate Summit, and 4th International SIDS Conference. He held that the region must continue strengthening regional and international cooperation, and unlock innovative, scalable solutions through tools like blue bonds and debt-for-ocean swaps, and other innovative mechanisms. “ECA, in partnership with AISCC, is proud to support initiatives like the RESIslands project, funded by the GCF,” he said. “Together, we are advancing integrated approaches to promote ocean health, sustainable development, and climate resilience—leaving no one behind.”

    In the ministerial panel, national leaders from across the region provided a grounded view of both challenges and opportunities. Nilda Borges da Mata, Minister of Environment, Youth and Sustainable Tourism of São Tomé and Príncipe, said that unity among African SIDS is key to advancing sustainable development.

    “When we speak with one voice, we gain strength. When we share knowledge, we gain resilience. And when we cooperate, we attract the resources we need,” she said. Borges da Mata reaffirmed her country’s support for the AISCC as a critical platform to promote regional cooperation on climate and ocean priorities.

    Guinea-Bissau’s Minister of Environment, Biodiversity and Climate Action, Viriato Soares Cassamá, announced that his country will host the next Ministerial Meeting of the AISCC later this year. He revealed the upcoming meeting as a decisive moment for the AISCC to launch a Joint Declaration on Oceans and Climate, a Sustainable Finance Action Plan, and new governance mechanisms that include women, youth, and local voices.

    Maria Ebiaca Moete, State Secretary of Finance, Planning and Economic Development of Equatorial Guinea, emphasized the importance of investment in locally led, community-based solutions. “We see the RESIslands Initiative as a key platform to channel investment into sustainable, locally led projects,” she said. Moete also called for the creation of a dedicated international funding mechanism for island states and urged development partners to design financing instruments that are simpler, more flexible, and more accessible for vulnerable island economies.

    Fabrice David, Junior Minister of Agro-Industry, Food Security, Blue Economy, and Fisheries of Mauritius, called for a shift in perception of SIDS from fragile to formidable. “This is a critical moment for SIDS to show leadership as Big Ocean States,” he said. “SDG14 remains the most underfunded of all global goals. That must change.” Minister David introduced the Blue Finance Hub initiative, developed with support from the Africa Natural Capital Alliance (ANCA) and FSD Africa, which he described as a promising model for catalyzing nature-positive investments in the blue economy, with potential for replication across other African island nations.

    The panel featured senior-level participation from Cabo Verde and Madagascar, too. In addition to the governmental interventions, the event included the United Nations Secretary-General Special Envoy for the Ocean, the Deputy Secretary-General of the Organisation for Economic Co-operation and Development (OECD), the UN Resident Coordinator in Cabo Verde, as well as senior speakers from the Indian Ocean Commission, the Green Climate Fund, the African Union Development Agency (AUDA-NEPAD), the SIDS Hub at the Foreign, Commonwealth & Development Office of the United Kingdom, and the ANCA Secretariat of FSD Africa.

    Throughout the High-Level Dialogue, speakers stressed the urgency of rethinking the global financial system to respond more effectively to the realities of island nations, and the need for AIS SIDS to have a stronger voice in shaping international ocean and climate frameworks. The meeting reaffirmed the role of the AISCC as a unifying body for African Island States, driving forward shared strategies on SDG 14 and building a sustainable, climate-resilient blue future through partnership, innovation, and action.

    Distributed by APO Group on behalf of United Nations Economic Commission for Africa (ECA).

    MIL OSI Africa

  • MIL-OSI United Kingdom: Front line drone technology to fuel UK – Ukraine partnership

    Source: United Kingdom – Executive Government & Departments

    Press release

    Front line drone technology to fuel UK – Ukraine partnership

    A landmark agreement between the UK and Ukraine to share battlefield technology has been reached today, boosting Ukraine’s drone production and linking up the UK’s defence industry with the cutting-edge technology being developed on the front lines in Ukraine.

    A landmark agreement between the UK and Ukraine to share battlefield technology has been reached today, boosting Ukraine’s drone production and linking up the UK’s defence industry with the cutting-edge technology being developed on the front lines in Ukraine.

    Prime Minister Keir Starmer and President Zelenskyy reached the agreement during the Ukrainian leader’s visit to Downing Street today.

    Technology data sets from Ukraine’s front line are set to be plugged into UK production lines, allowing British defence firms to rapidly design and build, at scale, cutting edge military equipment available nowhere else in the world.

    Ukraine is the world leader in drone design and execution, with drone technology evolving, on average, every six weeks.

    The agreement will allow that data to be shared with UK firms to quickly build and produce large numbers of drones for Ukraine’s front lines. It will also ensure a defence dividend continues to be delivered across the country – boosting Ukraine’s defence with deliveries of new equipment, while also supporting British jobs. 

    Initial agreements between defence firms in both countries are expected to be rolled out in the coming weeks, with the aim of delivering Ukraine large numbers of battle-proven drones to continue to stave off Russia’s barbaric invasion over the coming months and years.

    Prime Minister Keir Starmer said:

    By harnessing Ukraine’s battlefield innovation and combining it with British industrial strength, we are not only accelerating support for Ukraine’s defence, we are also delivering security for working people through our Plan for Change.

    This agreement is not just about today’s fight, it’s about building the defence capabilities of tomorrow, together.

    The agreement, which covers the next three years, underscores the unbreakable friendship between the two countries, comes after the two leaders signed the 100-year partnership between the UK and Ukraine in January.

    The UK will also allocate up to £280m of bilateral assistance to Ukraine for financial year 2025-2026 today to keep the country in the fight and ensure Ukrainians living through Russia’s illegal invasion have access to vital support.  

    The funding will support humanitarian, energy, stabilisation, reform, recovery and reconstruction programmes. Today’s extra funding takes the UK’s non-military support to Ukraine since the start of the invasion to over £5bn. This includes £4.1bn in fiscal support, and over £1.2bn in bilateral assistance. 

    The industrial pilots and subsequent orders will be funded through the UK’s £4.5 billion of military support this year. It also delivers on the Strategic Defence Review’s recommendations for the UK Armed Forces to move towards a greater use of autonomy.

    Initially, the industrial partnership is expected to increase information and expertise sharing between the UK and Ukraine on drone-based air defence, but the agreement also paves the way for both countries to work on capabilities for the future, long after the war finishes.

    It comes after strong collaboration between UK and Ukrainian innovation and military teams and builds on the partnerships created through the UK’s joint leadership of the international drone coalition.

    The pilots and subsequent orders will be funded through the UK’s £4.5 billion of military support this year and the UK’s commitment to provide £3bn a year of military support to Ukraine in future years. It also delivers on the Strategic Defence Review’s recommendations for the UK Armed Forces to move towards a greater use of autonomy.

    Updates to this page

    Published 23 June 2025

    MIL OSI United Kingdom

  • MIL-OSI United Nations: Non-Governmental Organizations Brief the Committee on the Elimination of Discrimination against Women on the Situation of Women in Afghanistan, Chad and Botswana 

    Source: United Nations – Geneva

    The Committee on the Elimination of Discrimination against Women was this afternoon briefed by representatives of non-governmental organizations on the situation of women’s rights in Afghanistan, Chad and Botswana, the reports of which the Committee will review this week.  The report of San Marino will also be reviewed this week, but there were no non-governmental organizations speaking on that country. 

     

    Non-governmental organizations speaking on Afghanistan raised concerns relating to restrictive laws against women, the ban on girls’ education, and gender-based crimes enacted by the de-facto authorities, among other issues. 

    Speakers for Chad raised issues including women’s low representation in political and public life, gender stereotypes, and the prevalence of female genital mutilation. 

    The speaker on Botswana discussed the criminalisation of sex workers, mistreatment of gender-based violence victims, and social protection gaps impacting women.

     

    No speakers took the floor in relation to San Marino.   

    The following non-governmental organizations spoke on Afghanistan: Musawah and Strategic Advocacy for Human Rights (SAHR); MADRE and CUNY School of Law; Gender Persecution Working Group (GPWG); Women’s International League for Peace and Freedom; and Afghanistan LGBTIQ+ Organization – ALO. 

    The following non-governmental organizations spoke on Chad: Lutheran World Foundation Chad; and Ligue tchadienne pour les droits des femmes (Chadian League for Women’s Rights).

    Success Capital Organization spoke on Botswana.

    The Committee on the Elimination of Discrimination against Women’s ninety-first session is being held from 16 June to 4 July.  All documents relating to the Committee’s work, including reports submitted by States parties, can be found on the session’s webpage.  Meeting summary releases can be found here.  The webcast of the Committee’s public meetings can be accessed via the UN Web TV webpage.

    The Committee will next meet in public at 10 a.m. on Tuesday, 24 June to consider the fourth periodic report of Afghanistan (CEDAW/C/AFG/4).

     

    Statement by Committee Chair 

     

    NAHLA HAIDAR, Committee Chair, said this was the second opportunity during the present session for non-governmental organizations to provide information on States parties whose reports were being considered during the second week of the session, namely Afghanistan, San Marino, Chad and Botswana.  

    Statements by Non-Governmental Organizations on Afghanistan

    In the discussion on Afghanistan, speakers, among other things, said that since the Taliban assumed control of Afghanistan in 2021, Afghan women and girls had been facing increasing human rights violations.  The de facto authorities had issued decrees restricting women in all aspects of their social, cultural, political and economic life.  The 2024 law on the promotion of virtue and prevention of vice mandated ‘Sharia hijab’ covering the entire body and face of women, a prohibition on women to speak in public, and a strict male relative (mahram) requirement for women when leaving the house.  It created the institution of a morality police (muhtasib) to enforce the law, further increasing the risk of arbitrary detention and arrest by the de-facto authorities.  Among the rights that Afghan women and girls were cruelly denied were the rights to education, to work, and to freedom of peaceful assembly. 

    The Taliban’s near-total ban on girls’ education after grade six and its prohibition of women’s university attendance crushed the dreams of an entire generation.  Women had been dismissed from public employment and faced restrictions in the private sector.  Women in Afghanistan also faced extensive restrictions on mobility and employment, including through the de facto authorities’ interference in the hiring process of non-governmental organization employees.  Women had been stripped of autonomy, dignity, and the means to support themselves and their families.

    Since 2021, women lawyers had not been able to obtain or renew their licenses, and could not legally represent clients in court, including female gender-based violence survivors.  Women in court were forced to rely on male advocates to represent them, meaning they effectively had no access to justice.  The Taliban had also eliminated gender-based violence services and legal protections. 

    Since August 2021, the Taliban had institutionalised gender-based crimes and systematically oppressed women, girls, and lesbian, gay, bisexual, transgender and intersex persons in Afghanistan.  Lesbian, gay, bisexual, transgender and intersex women and transgender men had been subject to forced marriage to men and faced compounded barriers to fleeing gender violence because of mahram requirements.  The Taliban had subjected transgender women to torture, including sexual violence. 

    Women peacefully protesting these injustices had been beaten, detained and tortured, and had undergone surveillance.  The Taliban’s 2021 decree requiring permits for protests, which was used to silence women-led demonstrations, was a direct assault on freedom of assembly.  Taliban members publicly flogged women for purported “adultery” or for “running away from home.” 

    Women and girls were facing gender apartheid in Afghanistan.  United Nations Member States, regional bodies, and international institutions had a collective responsibility to ensure that the Taliban were held accountable for ongoing violations, especially those targeting the rights and freedoms of women and girls.  The Committee should call on Member States to support the International Criminal Court’s efforts to hold the Taliban accountable, and States’ efforts to bring Afghanistan before the International Court of Justice for rights violations, including under the Convention.  States should provide support to the ongoing investigation by the International Criminal Court, the establishment of an independent accountability mechanism, and the codification of gender apartheid as a crime under international law. 

    The Committee was urged to call on the de facto authorities to immediately repeal all decrees restricting freedom of expression, appearance, education and employment, including the mandatory hijab and mahram requirements; end women’s banishment from public spaces; end arbitrary imprisonment and torture, including sexual violence, against women human rights defenders; and demand the release of all women imprisoned for protest, speech or identity.  The de facto authorities in Afghanistan must dismantle systemic gender-based oppression by repealing all discriminatory edicts and fully implementing recommendations from United Nations human rights mechanisms. 

    Statements by Non-Governmental Organizations on Chad

    In the discussion on Chad, speakers among other things, commended the Government of Chad for the progress made in eliminating discrimination against women despite a very difficult environment.  The effective implementation of the Convention continued to be hampered by the consequences of decades of conflict, the persistence of armed violence in the east and south-east of the country, the massive movements of internally displaced persons and refugees, and the continuing humanitarian crisis.

    Following the recommendations made by the Committee to the Chadian State in 2011, several advances had been made through the adoption of laws, strategies and programmes aimed at protecting and promoting women’s rights, including the national gender policy of December 2011, law no. 003/PR/2025 on the prevention and punishment of violence against women and girls, and the adoption of a national action plan for the implementation of Security Council resolution 1325  (2000) by Chad.

    However, the percentage of women participating in public life, politics and the peace process remained low.  The Government of Chad was urged to review relevant legislation to ensure the full and effective participation of women in political and public life; secure the greater inclusion of women in the processes of consultation, national dialogue and reconciliation; and eliminate gender stereotypes and biases.

    Chadian women faced various obstacles such as gender stereotypes, discriminatory cultural norms, harmful religious doctrines, and lack of economic autonomy.  The perception of women’s economic activity by men as a potential source of dowry for a future co-wife was very common.  It was recommended that the Government strengthen the legal and institutional framework for the protection of the rights of women and girls by ratifying the Maputo Protocol.  The Government should also adopt a specific law against female genital mutilation, with effective implementation and monitoring mechanisms.

    According to the 2023 activity report of the Ministry of Women and Early Childhood, there were 241 cases of female genital mutilation, 500 cases of rape, 537 cases of sexual assault, 469 cases of sexual exploitation and 780 cases of early and forced marriage.  Female genital mutilation was still widely practised despite recommendations.  It was important for the Chadian Government to accelerate the adoption, promulgation and popularisation of the Code of the Family and its implementing decree.

    Statement by a Non-Governmental Organization on Botswana

    The speaker on Botswana said Botswana’s history as a peaceful democratic republic post-independence continued to shield its regressions in the respect and fulfilment of human rights.  Unequal distribution of income, electricity cuts, water shortages, and prohibitive connection of utilities for freehold land tenures continued to aggravate poverty. All the while, Botswana was characterised by femicide, technology assisted gender-based violence through social media, the criminalisation of sex workers, narrow legal provisions for abortion, unavailability of safe sex commodities in prisons, corruption, marital rape, and the lack of justiciability of socioeconomic rights despite ratifying the Maputo Protocol.

    Survivors of gender-based violence continued to be ignored and erased whilst also enduring police harassment and brutality at roadblocks despite some protections in law for gender diverse people.  Despite employment laws protecting termination from specific grounds of discrimination, no law protected the worker during probationary periods. Social protection gaps remained for women who were not poor enough for State provisions but were too poor to sustain any dignified life.  There needed to be better conditions, including ensuring that the Committee’s recommendations were accelerated, socialised with grassroots communities, and entrenched within the national gender machinery.

    Questions by Committee Experts

    A Committee Expert asked representatives from Afghanistan for critical analysis regarding the positive decrees, including the ban on forced marriages.  What kind of threats did women in exile face? 

    What obstacles were there to fighting female genital mutilation and child marriage in Chad? How were women’s inheritance rights impacted in Chad? 

    Another Expert asked about the status of the draft Code of the Family in Chad?  How was the plurality of laws playing out with a new Government?  What was the evaluation of the women, peace and security plan? 

    Regarding Botswana, what did the criminalisation of prostitution look like on the ground? Was there any information regarding the trafficking of women and girls?

    A Committee Expert asked if women in Afghanistan could own any property?  With the new law on guardians, how were women engaging with economic institutions? What was the level of participation of women in exports and trade? 

    For Chad, how was gender captured in the macro-economic policies of the country? Were there gender-formative actions, including for procurement and taxation?

    What was the status of the national human rights institution in Botswana?  Had the institution been able to register and become fully compliant with the Paris Principles?  What services did women receive from this institution? 

    Another Expert asked if women in Botswana could transfer cases from the customary court to the magistrate’s court, as per the amended act?

    Responses from Non-Governmental Organizations from Afghanistan

    Speakers from Afghanistan said for women human rights defenders in exile, the Taliban used their families and friends in the country as a weapon against them.  Those who lobbied for the Taliban in Europe also participated in acts of sexual violence and harassment.  The ban of forced marriages was an announcement and not true; the Taliban themselves forced girls into early marriage. 

    Women who had participated in the business sector were facing high taxation costs, and had a limited ability to attend trade events within and outside the country.  In Afghanistan, the sector was predominately operated by male business owners, meaning there was a lack of opportunities for women business owners.  Many women with disabilities now lacked access to the market and livelihood support. 

    Responses from Non-Governmental Organizations from Chad

    Speakers from Chad said women and girls continued to be victims of discrimination inside the family. The Persons and Families Code still had not been adopted.  It had been returned to the administration by the parliament for a rereading.  There were factors, including religious beliefs, which were oppressive; these remained obstacles to adopting this legislation. 

    Family matters were governed by a mix of local customs and civil codes inherited from the colonial period, exposing women and children to discriminatory practices.  Women were generally excluded from decision-making when it came to the peace process and typically participated only as figureheads. Just one woman had participated in peace negotiations.  If women participated in the economy, their savings were used as a dowry and men used this to acquire another woman.   

    There were legal texts in Chad but it was their application which was the issue. Impunity was an everyday issue, including for cases of gender-based violence.  The reform of the Family Code was still a big challenge.  The issue of gender was not understood as a concept in Chad and a lack of political commitment meant gender was not addressed in Chadian society.  There were obstacles and challenges when it came to female genital mutilation and child marriage.  While texts and laws set out punishments, in many communities these practices continued. Customary law trumped Government law. 

    Responses from a Non-Governmental Organization from Botswana

    The speaker from Botswana said petty crimes and other laws were used to detain sex workers. There had been documented evidence of sex workers experiencing sex harassment.  Discrimination against transgender and gender diverse sex workers was compounded.

    Botswana was a transit country, and it was easy to be mobile across border countries, where there was a limited tracking of movement.  The Office of the Ombudsman had been expanded to include a human rights mandate, but it was believed it was not fully compliant with the Paris Principles. Women human rights defenders were not explicitly covered, especially in terms of reports covered by the Ombudsman. Community knowledge remained low regarding certain legislation, and systemic data remained unavailable.

    ___________

    Produced by the United Nations Information Service in Geneva for use of the media; 
    not an official record. English and French versions of our releases are different as they are the product of two separate coverage teams that work independently.

     

     

    CEDAW.25.016E

    MIL OSI United Nations News

  • MIL-OSI USA: Kevin Muhlendorf Named SEC Inspector General

    Source: Securities and Exchange Commission

    The Securities and Exchange Commission today announced that Kevin Muhlendorf will be the agency’s new Inspector General, effective July 28. Mr. Muhlendorf is a former SEC and Justice Department attorney who for the past nine years has been a partner in the white-collar defense and government investigations practice at Wiley Rein LLP in Washington D.C., where he focused on representing individuals and entities in criminal and civil securities enforcement matters. Acting Inspector General Katherine Reilly will return to her role as a Deputy Inspector General.

    In private practice, Mr. Muhlendorf regularly conducted sensitive internal investigations and provided compliance counseling for clients. While on secondment from Wiley Rein for portions of 2023 and 2024, Mr. Muhlendorf served as Acting Inspector General for the Washington Metropolitan Area Transit Authority (WMATA), where he led approximately three dozen auditors and special agents conducting investigations and issuing financial and performance audits. He also designed and implemented a whistleblower award pilot program.

    Since 2015, Mr. Muhlendorf has taught a class on financial fraud investigations as an adjunct professor at Georgetown Law. He is both a Certified Fraud Examiner (CFE) and Certified Compliance & Ethics Professional (CCEP).

    Mr. Muhlendorf’s previous law enforcement experience includes six years as a Trial Attorney and Assistant Chief in the Securities and Financial Fraud Unit of the U.S. Department of Justice’s Criminal Division, Fraud Section, where he investigated and tried complex fraud cases in jurisdictions across the country. Mr. Muhlendorf was a Senior Counsel in the SEC Enforcement Division from 2004 to 2010.

    “Kevin has the ideal combination of experience in internal investigations, compliance programs, and law enforcement to hit the ground running as our new Inspector General and ensure our agency’s operations are transparent, efficient, and effective,” said SEC Chairman Paul S. Atkins. “He is a proven leader – and former inspector general – with a reputation for fairness and objectivity, and we’re pleased to welcome someone with his record of accomplishment back to the SEC.”

    Mr. Muhlendorf said, “The SEC is genuinely committed to its investor protection mission, and I’m grateful for this opportunity to re-enter government service and help the Commission and its staff pursue that mission with efficiency and integrity while protecting taxpayer resources.”

    Mr. Muhlendorf began his legal career as a litigation associate at Steptoe & Johnson LLP after serving as a federal judicial law clerk to Judge John M. Facciola in Washington D.C. He earned his BA in history from the University of Virginia and his law degree from William & Mary Law School.

    Ms. Reilly, who has been serving as Acting Inspector General since May, will return to her role when Mr. Muhlendorf arrives in July.

    “I want especially to thank Katherine for stepping up to serve as Acting Inspector General and continuing her efforts to make our Office of Inspector General as productive as possible. She is exceptionally qualified, and I am very pleased that she continues as part of our inspector general team,” Chairman Atkins said.

    The SEC’s Office of Inspector General is an independent unit that promotes the integrity, efficiency, and effectiveness of the SEC’s critical programs and operations through rigorous and objective oversight.

    Under the Inspector General Act of 1978, inspectors general have a dual and independent reporting relationship to the Commission and Congress. Appointments are made without regard to political affiliation and solely on the basis of integrity and demonstrated ability in accounting, auditing, financial analysis, law, management analysis, public administration, or investigations.

    MIL OSI USA News

  • MIL-OSI Security: Stockton Brothers Indicted for Wire Fraud Conspiracy

    Source: US FBI

    A federal grand jury returned an eight-count indictment against Stockton brothers Hector Perez, 34, and Flavio Perez, 29. Both are charged with wire fraud conspiracy, and Hector Perez is additionally charged with wire fraud and aggravated identity theft, Acting U.S. Attorney Michele Beckwith announced. Both were arrested on June 17, 2025.

    According to court documents, between May 2018 and November 2020, the brothers conducted a wire fraud conspiracy against at least four different victims, which were invoice factoring companies.

    Invoice factoring is a financial service that provides immediate cash flow to a business in exchange for the business’s outstanding invoices. The invoice factoring company, which has bought the outstanding invoices, then has the right to collect the money owed by the debtors on those invoices.

    To execute the scheme, the brothers created corporate entities posing as businesses seeking to sell fabricated debt in the form of fraudulent invoices. The defendants then sold these fraudulent invoices to at least four different factoring companies. As a result of this deception, the victim factoring companies transferred money to bank accounts held under the control of one or both of the defendants. The victim factoring companies would either never get paid on the fake invoices that they had purchased or if they did, would get paid much less than they were due. If they were paid, the money generally came from the defendants, most often via bank accounts held in the names of fictitious Debtors. These payments were designed to disguise the fraud so that the defendants could avoid detection and continue the fraudulent enterprise. From May 2018 through September 2020, the overall loss to the victims totaled more than $1.8 million.

    This case is the product of an investigation by the Federal Bureau of Investigation. Assistant U.S. Attorneys Denise N. Yasinow and Matthew Thuesen are prosecuting the case.

    If convicted, Hector Perez faces a maximum statutory penalty of 20 years in prison and a $250,000 fine for the wire fraud and conspiracy counts, and a mandatory consecutive two-years in prison for the aggravated identity theft count. Flavio Perez faces a maximum statutory penalty of 20 years in prison and a $250,000 fine for the conspiracy count. Any sentence, however, would be determined at the discretion of the court after consideration of any applicable statutory factors and the Federal Sentencing Guidelines, which take into account a number of variables. The charges are only allegations; the defendants are presumed innocent until and unless proven guilty beyond a reasonable doubt.

    MIL Security OSI