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Category: Economy

  • MIL-OSI Asia-Pac: Fraudulent mobile application related to Bank of Singapore Limited

    Source: Hong Kong Government special administrative region

    The following is issued on behalf of the Hong Kong Monetary Authority:

    The Hong Kong Monetary Authority (HKMA) wishes to alert members of the public to a press release issued by Bank of Singapore Limited relating to a fraudulent mobile application (App), which has been reported to the HKMA. A hyperlink to the press release is available on the HKMA website.

    The HKMA wishes to remind the public that banks will not send SMS or emails with embedded hyperlinks which direct them to the banks’ websites to carry out transactions. They will not ask customers for sensitive personal information, such as login passwords or one-time password, by phone, email or SMS (including via embedded hyperlinks).

    Anyone who has provided his or her personal information, or who has conducted any financial transactions, through or in response to the App concerned, should contact the bank using the contact information provided in the press release, and report the matter to the Police by contacting the Crime Wing Information Centre of the Hong Kong Police Force at 2860 5012.

    MIL OSI Asia Pacific News –

    April 2, 2025

  • MIL-OSI Asia-Pac: Fraudulent website and internet banking login screen related to Shanghai Commercial Bank Limited

    Source: Hong Kong Government special administrative region

    The following is issued on behalf of the Hong Kong Monetary Authority:

    The Hong Kong Monetary Authority (HKMA) wishes to alert members of the public to a press release issued by Shanghai Commercial Bank Limited relating to a fraudulent website and an internet banking login screen, which have been reported to the HKMA. A hyperlink to the press release is available on the HKMA website.

    The HKMA wishes to remind the public that banks will not send SMS or emails with embedded hyperlinks which direct them to the banks’ websites to carry out transactions. They will not ask customers for sensitive personal information, such as login passwords or one-time password, by phone, email or SMS (including via embedded hyperlinks).
     
    Anyone who has provided his or her personal information, or who has conducted any financial transactions, through or in response to the website or login screen concerned, should contact the bank using the contact information provided in the press release, and report the matter to the Police by contacting the Crime Wing Information Centre of the Hong Kong Police Force at 2860 5012.

    MIL OSI Asia Pacific News –

    April 2, 2025

  • MIL-OSI Asia-Pac: Welcome remarks by SDEV at opening ceremony of International Water Pioneers Summit (English only)

    Source: Hong Kong Government special administrative region

    Welcome remarks by SDEV at opening ceremony of International Water Pioneers Summit (English only) 
    Honourable Minister Li Guoying (the Minister of Water Resources), distinguished guests, ladies and gentlemen,
     
    A very warm welcome to all of you to Hong Kong and to this International Water Pioneers Summit. It is my honour to join prestigious water leaders on this significant occasion and to benefit from discussions among experts.
     
    First of all, I would like to take this opportunity to extend my sincere gratitude to the co-organisers, including Hong Kong branch of the Chartered Institution of Water and Environmental Management, the Hong Kong Institution of Engineers and the Hong Kong branch of the Chartered Institute of Plumbing and Heating Engineering. I thank them for their collaboration and generous effort to make the Summit possible. My heartfelt thanks also goes to the Minister of Water Resources of China and his team for their presence in this Summit. Your presence means a lot to us. I also wish to thank all our distinguished speakers and moderators from the Mainland and overseas for accepting our invitations and travelling to Hong Kong to participate in this Summit. We are honoured to welcome an exceptional lineup of speakers and moderators from nine countries across four continents here today. They are distinguished experts and leaders of international water and health organisations and senior government officials. With these renowned leaders sharing their insights, I am sure the upcoming exchanges would be inspiring and rewarding.
     
    From the Hong Kong Palace Museum to the theme of the Summit
     
    Today’s venue, the Hong Kong Palace Museum showcasing the rich tapestry of Chinese art and culture, is a setting particularly fit for the Summit. Water is the essence of life and the cornerstone of human civilisation. It also has symbolic meanings in the Chinese culture. Most of you would have come across the Exhibition of Chinese Water Culture in the foyer before entering this Auditorium. The exhibition explains the origin, symbolism, philosophy and wisdom of water through the lens of Chinese culture. It also reminds us how water has shaped human civilisation, culture and connections.
     
    The supply of Dongjiang water from the Mainland is a showcase of the Chinese water culture. It is not just an engineering achievement to address Hong Kong’s water demand. More importantly, it is a touching demonstration of the core value in Chinese culture, “血濃於水” in Chinese, which means “family connections are inseparable”. The supply of Dongjiang water underscores the deep bonding between our country and Hong Kong as a special administrative region, as well as the unwavering love of our Motherland for Hong Kong. The extended spirit of unity and the sense of mission extending beyond the family to make the world a better place, serves as a guiding principle for us to work together to foster a community of life against the global water challenges.
     
    With the growing impacts of global climate change and increasing pressure on how best we should use the finite resources around the world, the sustainable management of water is no longer optional but imperative. The theme of the Summit, “Smart Water · High-Quality Development”, is undoubtedly very close to our hearts as it captures the urgency and importance of our having to overcome challenges we face nowadays. We need collective responses. We need innovative and actionable solutions. We also need forward-thinking strategies. Today’s Summit comes in time.

    The theme of the Summit – “Smart Water · High-Quality Development”
     
    So how can we achieve “Smart Water · High-Quality Development”? Our morning session will focus on the high-quality development of water supply and technologies in response to global crises, the essential co-ordination of water, economy, and ecology for sustainable growth, and the transformative role of digital technologies and artificial intelligence in enhancing water management.
     
    And we all know that the reliability and safety of water supplies are crucial to public health. So in the afternoon session, our speakers will lead us in delving into crucial strategies and technological advances for developing low-carbon, as well as green urban and rural water systems. We will also touch on recent developments in drinking water safety, and the challenges and opportunities in protecting health through water, adaptability, sanitation, and hygiene (WASH).
     
    The special panel discussion – Belt and Road
     
    The Belt and Road Initiative proposed by President Xi Jinping in 2013 has connected countries, regions and continents through advancing infrastructure development and strengthening collaboration in various aspects. To bolster high-quality co-operation in water management among countries along the Belt and Road, a special panel discussion is arranged in this Summit to showcase successful examples of collaboration and highlight how shared expertise and resources can pave the way for sustainable water management across borders.
     
    Special keynote speeches on the Dongjiang Water Supply
     
    Another highlight of today’s programme is the special keynote session on the Dongjiang water supply to Hong Kong, which is scheduled to take place later in the afternoon. I am sure that the renowned speakers would provide valuable insights on this mega water supply project, the achievement in safeguarding the water quality of the Dongjiang water and a great strive taken over the years in advancing the operation and maintenance through smart technologies.
     
    Ladies and gentlemen, the significance of this Summit lies not only in the exchange of knowledge but also in the spirit of collaboration it fosters. Water is not just a resource, it is a lifeline of the ecosystems, economies and communities to where we belong.
     
    As we embark on today’s discussions, let us remember that the challenges we face can only be solved through collective efforts. I encourage everyone here to actively engage in the discussions. Once again, a warm welcome to all of you and I wish the Summit every success. Thank you.
    Issued at HKT 13:23

    NNNN

    CategoriesMIL-OSI

    MIL OSI Asia Pacific News –

    April 2, 2025

  • MIL-OSI Asia-Pac: India’s Coal Sector has Crossed the One Billion Tonne Milestone in Cumulative Production for the Financial Year 2024-25

    Source: Government of India

    India’s Coal Sector has Crossed the One Billion Tonne Milestone in Cumulative Production for the Financial Year 2024-25

    Coal Dispatch has also Demonstrated Remarkable Progress

    Posted On: 01 APR 2025 4:13PM by PIB Delhi

    In a remarkable achievement, India’s coal sector has crossed the One Billion Tonne (BT) milestone in cumulative production for the financial year 2024-25. This unprecedented feat underscores the Ministry of Coal’s relentless efforts to enhance production, streamline dispatches, and strengthen the nation’s energy security.

    The cumulative coal production in FY 2024-25 has now crossed the One Billion Tonne (BT) mark, reaching1047.57 (Provisional), compared to 997.83 MT in FY 2023-24, recording a substantial growth of 4.99%. Commercial & Captive, and other entities have also recorded a stupendous coal production of 197.50 MT (Provisional), reflecting a growth of 28.11% over the same period last year recorded at154.16 MT.

    Similarly, coal dispatch has also demonstrated remarkable progress, The cumulative coal dispatch in FY 2024-25 has also exceeded the One BT milestone, reaching 1024.99MT (Provisional), as compared to 973.01 MT in FY 2023-24, reflecting a significant increase of 5.34%. Dispatch from Commercial, Captive, and other entities also witnessed a significant rise, reaching 196.83MT (provisional), with a growth of 31.39% compared to the corresponding period of previous year which was recorded at 149.81 MT.

    This milestone highlights India’s progress in ramping up domestic coal production while ensuring efficient distribution to meet growing energy demands. The Ministry of Coal remains committed to fostering self-reliance, reducing import dependency, and driving sustainable mining practices to bolster the nation’s energy security and economic resilience.

    ****

    Sunil Kumar Tiwari

    (Release ID: 2117280) Visitor Counter : 53

    MIL OSI Asia Pacific News –

    April 2, 2025

  • MIL-OSI Asia-Pac: Speech by CE at International Water Pioneers Summit (English only)

    Source: Hong Kong Government special administrative region

    Following is the speech by the Chief Executive, Mr John Lee, at International Water Pioneers Summit today (April 1):
     
    Honourable Li Guoying, Minister of Ministry of Water Resources, Honourable Wang Weizhong, Governor of Guangdong Province, Honourable Zheng Yanxiong, Director of the Liaison Office of the Central People’s Government in the Hong Kong Special Administrative Region, Honourable Xiang Bin, Member of the Office Leadership of the Hong Kong and Macao Work Office of the Communist Party of China Central Committee, distinguished guests, ladies and gentlemen,
     
    Good morning. I am pleased to join you today for the opening of the International Water Pioneers Summit. Gathered here are nearly 400 high-profile professionals and senior government officials from Hong Kong, Mainland China, Asia and around the world. Present here to celebrate the 60th anniversary of Dongjiang’s water supply to Hong Kong, and to work together to ensure a sustainable water supply for us all.
     
    Hong Kong’s water story is one of transformation, illustrating how a city with limited water resource, can turn geographic and resource limitations, into engineering triumphs.
     
    Hong Kong’s water story is also one of deep and abiding ties. Because without the strong bonds and blood relation between Hong Kong and the Mainland, the engineering, and the water it made possible, would not have taken place. Certainly not in the 1960s.
     
    As for the engineering, the main challenge was geography. Dongjiang is more than 50 kilometres away from Hong Kong. That meant building an 83-kilometre water channel, crossing half a dozen mountains. The water had to be lifted, via multi-stage pumping stations, from two metres above sea level to 46 metres at the highest point.
     
    And the project was completed in less than one year. At 4pm on the 1st of March 60 years ago, the supply of Dongjiang water to Hong Kong began.
     
    For the past six decades, Dongjiang has provided 70 to 80 per cent of the water needed by Hong Kong.
     
    And the engineering feats continued. Because of our increasing demand for water, the Dongjiang-Shenzhen Water Supply Scheme, as it is presently known, was expanded three times from the 1970s to the 1990s. It was improved again in the early 2000s. These raised Hong Kong’s annual water supply ceiling from the original 68.2 million cubic metres, to today’s 820 million cubic metres, a rise of 12 times.
     
    We are eternally grateful for the enormous commitment, and technical ingenuity, by the country and all our compatriots involved.
     
    We like Dongjiang water. For good reasons. It meets the highest national standard for surface water used for human consumption. No less essential, it continues to flow, fuelling Hong Kong’s economic miracle, supporting our economy and community, while helping to ensure our city’s sustainable development and long-term prosperity.

    The theme of this Summit is “Smart Water, High-Quality Development”. That tells me that if we want to ensure a sustainable water supply, we need to invest in its future, and do it innovatively.
     
    Hong Kong has long been recognised for its infrastructure prowess. Indeed, Hong Kong’s infrastructure was ranked among the top 10, globally, in the World Competitiveness Yearbook last year.
     
    Our major water supply projects include High Island Reservoir, Hong Kong’s largest reservoir, and the Tseung Kwan O Desalination Plant, the first waterworks in Hong Kong to adopt advanced reverse osmosis desalination technology.
     
    As an international centre of innovation and technology, we are keen on applying I&T to water management. Last year, we set up a Digital Water Office to drive the digitalisation of our water supply services.
     
    The Office promotes the use of smart devices, digital twin technology and artificial intelligence, to gradually gain full automation of operations in our waterworks installations.
     
    Innovation in infrastructure development will power our water-secure future. Our goal is to establish Hong Kong as an international infrastructure centre, that serves our city and China, our country.
     
    Speaking of our country, let me add that it has built numerous water conservancy projects. And I’m sure you’ll hear more about them in today’s Summit.
     
    I am grateful to the organisers of today’s International Water Pioneers Summit. Grateful, too, to our distinguished speakers and moderators, here in Hong Kong from all over the world.
     
    While you’re here, I invite you to take full advantage of all that Hong Kong has to offer, in arts and culture. You can start right here, in West Kowloon Cultural District, Hong Kong’s largest arts development.
     
    Ladies and gentlemen, I wish you all a rewarding summit and an enjoyable and memorable stay in Hong Kong.
     
    Thank you.

    MIL OSI Asia Pacific News –

    April 2, 2025

  • MIL-OSI Asia-Pac: Arrangements for reassignment of spectrum in 2.5/2.6 GHz band and related spectrum utilization fee

    Source: Hong Kong Government special administrative region

         The Communications Authority (CA) announced today (April 1) its decision to reassign 50 MHz of spectrum in the 2.5/2.6 GHz band by way of auction for the provision of public mobile services upon the expiry of its existing assignments. The Secretary for Commerce and Economic Development (SCED) also announced his decision on the method for determining the related spectrum utilization fee (SUF).

         The existing assignments of the relevant spectrum are due to expire in May 2028. In arriving at the decisions about the reassignment arrangements of the spectrum and the related SUF, the CA and the SCED have considered thoroughly the views and comments received in the public consultation conducted between September and October last year.

         “Spectrum in the 2.5/2.6 GHz band belongs to the mid-band spectrum within the 1-7 GHz range, which provides longer range propagation than the high-band spectrum above 7 GHz, and wider bandwidth than the low-band spectrum below 1 GHz, thereby meeting both network coverage and capacity demands. It possesses the potential to support mobile broadband services and other innovative applications adopting fourth generation, fifth generation mobile services or beyond,” a spokesman for the CA said.

         On the relevant SUF, the SCED decided to prescribe that it will be determined by auction, with the auction reserve price to be specified nearer the time of the auction after taking into account all relevant factors. To provide greater financial flexibility to spectrum assignees, the assignees will be given a choice to pay the SUF either by lump sum payment upfront or by annual instalments in the reassignment period of about 10 years and 10 months.

         The Government needs to make necessary amendments to the relevant subsidiary legislation to provide legal basis for the reassignment arrangements and the decision to levy the SUF in relation to the above-mentioned spectrum. Subject to the completion of amendments to the relevant subsidiary legislation, the CA targets to conduct the auction in the fourth quarter of this year.

         For details of the arrangements for the spectrum reassignment and the related SUF, please refer to the joint statement published by the SCED and the CA today.

    MIL OSI Asia Pacific News –

    April 2, 2025

  • MIL-OSI: Ring Energy Announces the Closing of the Lime Rock Permian Basin Assets Acquisition

    Source: GlobeNewswire (MIL-OSI)

    THE WOODLANDS, Texas, April 01, 2025 (GLOBE NEWSWIRE) — Ring Energy, Inc. (NYSE American: REI) (“Ring” or the “Company”) announced that it has completed its previously-announced acquisition (the “Transaction”) of the Central Basin Platform (“CBP”) assets of Lime Rock Resources IV, LP (“Lime Rock”) on March 31, 2025. Lime Rock’s CBP operations are located in the Permian Basin in Andrews County, Texas, and are focused on the development of approximately 17,700 net acres where the majority are similar to Ring’s existing CBP assets in the Shafter Lake area, and the remaining acreage exposes the Company to new active plays.

    KEY HIGHLIGHTS

    • HIGHLY ACCRETIVE: 2,300 barrels of oil equivalent per day (“Boe/d”) (>80% oil) of low-decline net production from ~101 gross wells driving $34 million of 2025E Adjusted EBITDA1
      • Accretive to key Ring per share financial and operating metrics, and attractively valued at <85% of Proved Developed (“PD”) PV-101,2
    • INCREASED SCALE AND OPERATIONAL SYNERGIES: ~17,700 net acres (100% HBP) mostly contiguous to Ring’s existing footprint
      • Expands legacy CBP footprint with seamless integration and identified cost reduction opportunities
    • MEANINGFUL ADJUSTED FREE CASH FLOW (“AFCF”)1 GENERATION: Supported by $120 million of oil-weighted PD PV-101,2reserves
      • Higher AFCF, shallow decline and reduced reinvestment rate accelerates debt reduction
    • STRENGTHENS HIGH-RETURN INVENTORY PORTFOLIO: >40 gross locations that immediately compete for capital
      • Improves inventory of proven drilling locations with superior economics in active development areas
    • CREATES A STRONGER AND MORE RESILIENT COMPANY
      • Solidifies position as a leading conventional Permian consolidator while strengthening the operational and financial base

    Mr. Paul D. McKinney, Chairman of the Board and Chief Executive Officer, commented, “We are pleased to announce the closing of our acquisition of Lime Rock’s CBP assets in the Permian Basin. The majority of these assets are similar to the conventional-focused CBP assets in our core Shafter Lake operations, which will allow us to quickly integrate the assets into our operations. The acquisition further consolidates assets in core counties in the CBP defined by shallow declines, high margin production and undeveloped inventory that immediately competes for capital, and provide for near-term opportunities for field level synergies and cost savings. As in the past, we will continue to execute our value focused proven strategy that we believe best positions the Company for long-term success.”

    TRANSACTION CONSIDERATION

    After taking into account preliminary purchase price adjustments, consideration for the Transaction consisted of:

    • A cash payment of approximately $63.6 million net of the $5 million deposit payment made in February;
    • $10.0 million deferred cash payment due on or about December 31, 2025; and
    • The issuance of approximately 6.5 million shares of common stock.

    The cash payment at closing was funded with cash on hand and borrowings under Ring’s senior revolving credit facility.

    ADVISORS        

    Greenhill, a Mizuho affiliate, acted as sole financial advisor to Ring in connection with the acquisition and Jones & Keller, P.C. served as legal counsel. Truist Securities served as financial advisor to Lime Rock and Kirkland & Ellis LLP served as legal counsel.

    ABOUT RING ENERGY, INC.

    Ring Energy, Inc. is an oil and gas exploration, development, and production company with current operations focused on the development of its Permian Basin assets. For additional information, please visit www.ringenergy.com.

    NON-GAAP INFORMATION

    Certain financial information utilized by the Company are not measures of financial performance recognized by accounting principles generally accepted in the United States (“GAAP”).

    The Company defines “Adjusted EBITDA” as net income (loss) plus net interest expense (including interest income and expense), unrealized loss (gain) on change in fair value of derivatives, ceiling test impairment, income tax (benefit) expense, depreciation, depletion and amortization, asset retirement obligation accretion, transaction costs for executed acquisitions and divestitures (A&D), share-based compensation, loss (gain) on disposal of assets, and backing out the effect of other income. Company management believes Adjusted EBITDA is relevant and useful because it helps investors understand Ring’s operating performance and makes it easier to compare its results with those of other companies that have different financing, capital, and tax structures. Adjusted EBITDA should not be considered in isolation from or as a substitute for net income, as an indication of operating performance or cash flows from operating activities or as a measure of liquidity. Adjusted EBITDA, as Ring calculates it, may not be comparable to Adjusted EBITDA measures reported by other companies. In addition, Adjusted EBITDA does not represent funds available for discretionary use. The Company cannot provide a reconciliation of 2025E Adjusted EBITDA without unreasonable efforts because it is unable to predict with reasonable certainty the ultimate outcome of certain significant items required for reconciliation. These items are uncertain, depend on various factors and could have a material impact on GAAP reported results.

    The Company defines “Adjusted Free Cash Flow” or “AFCF” as Net Cash Provided by Operating Activities less changes in operating assets and liabilities (as reflected on our Condensed Statement of Cash Flows), plus transaction costs for executed acquisitions and divestitures (A&D), current income tax expense (benefit), proceeds from divestitures of equipment for oil and natural gas properties, loss (gain) on disposal of assets, and less capital expenditures, bad debt expense, and other income. For this purpose, our definition of capital expenditures includes costs incurred related to oil and natural gas properties (such as drilling and infrastructure costs and lease maintenance costs) but excludes acquisition costs of oil and gas properties from third parties that are not included in our capital expenditures guidance provided to investors. Our management believes that Adjusted Free Cash Flow is an important financial performance measure for use in evaluating the performance and efficiency of our current operating activities after the impact of capital expenditures and net interest expense (including interest income and expense, excluding amortization of deferred financing costs) and without being impacted by items such as changes associated with working capital, which can vary substantially from one period to another. Other companies may use different definitions of Adjusted Free Cash Flow.

    PV-10 is a non-GAAP financial measure that differs from a financial measure under GAAP known as “standardized measure of discounted future net cash flows” in that PV-10 is calculated without including future income taxes. The Company believes the presentation of PV-10 provides useful information because it is widely used by investors in evaluating oil and natural gas companies without regard to specific income tax characteristics of such entities. PV-10 is not intended to represent the current market value of the Company’s estimated proved reserves. PV-10 should not be considered in isolation or as a substitute for the standardized measure as defined under GAAP. The Company also presents PV-10 at strip pricing, which is PV-10 adjusted for price sensitivities. Since GAAP does not prescribe a comparable GAAP measure for PV-10 of reserves adjusted for pricing sensitivities, it is not practicable for the Company to reconcile PV-10 at strip pricing to a standardized measure or any other GAAP measure.

    SAFE HARBOR STATEMENT

    This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements involve a wide variety of risks and uncertainties, and include, without limitation, statements with respect to the Company’s strategy and prospects. The forward-looking statements include statements about the expected benefits to the Company and its shareholders from the Transaction; the Company’s future reserves, production, financial position, business strategy, revenues, earnings, costs, capital expenditures and debt levels of the Company, and plans and objectives of management for future operations. Forward-looking statements are based on current expectations and subject to numerous assumptions and analyses made by Ring and its management considering their experience and perception of historical trends, current conditions and expected future developments, as well as other factors appropriate under the circumstances. However, whether actual results and developments will conform to expectations is subject to a number of material risks and uncertainties, including but not limited to: the Company’s ability to successfully integrate the oil and gas properties to be acquired in the Transaction and achieve the anticipated benefits from them; risks relating to unforeseen liabilities of Ring or the assets acquired in the Transaction; declines in oil, natural gas liquids or natural gas prices; the level of success in exploration, development and production activities; adverse weather conditions that may negatively impact development or production activities particularly in the winter; the timing of exploration and development expenditures; inaccuracies of reserve estimates or assumptions underlying them; revisions to reserve estimates as a result of changes in commodity prices; impacts to financial statements as a result of impairment write-downs; risks related to the level of indebtedness and periodic redeterminations of the borrowing base and interest rates under the Company’s credit facility; Ring’s ability to generate sufficient cash flows from operations to meet the internally funded portion of its capital expenditures budget; the impacts of hedging on results of operations; the effects of future regulatory or legislative actions; cost and availability of transportation and storage capacity as a result of oversupply, government regulation or other factors; and Ring’s ability to replace oil and natural gas reserves. Such statements are subject to certain risks and uncertainties which are disclosed in the Company’s reports filed with the Securities and Exchange Commission (“SEC”), including its Form 10-K for the fiscal year ended December 31, 2024, and its other SEC filings. Ring undertakes no obligation to revise or update publicly any forward-looking statements, except as required by law.

    CONTACT INFORMATION

    Al Petrie Advisors

    Al Petrie, Senior Partner

    Phone: 281-975-2146

    Email: apetrie@ringenergy.com

    FOOTNOTES

    1. Represents a non-GAAP financial measure that should not be considered a substitute for any GAAP measure. See section in this release titled “Non-GAAP Information” for a more detailed discussion.
    2. Proved reserves determined by internal management estimates based on NYMEX strip pricing as of February 19, 2025.

    The MIL Network –

    April 2, 2025

  • MIL-OSI: TransUnion Completes Acquisition of Credit Prequalification and Distribution Platform Monevo

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, April 01, 2025 (GLOBE NEWSWIRE) — TransUnion (NYSE:TRU) today announced the completion of the acquisition of Monevo from Quint Group Limited. The news follows January’s announcement that TransUnion had signed a definitive agreement to acquire U.K.-based Monevo, a credit prequalification and distribution platform that empowers lenders and banks to deliver highly personalized credit offers to consumers via comparison websites and other third parties. TransUnion had previously held 30% of the equity of Monevo after acquiring a minority stake in 2021.

    “We are delighted to welcome Monevo into the TransUnion family,” said Steve Chaouki, President, U.S. Markets, TransUnion. “We anticipate that Monevo’s platform will enhance our portfolio and our proposition to lenders. Prequalification, or eligibility, is critical to the consumer lending process, which supports our mission to make trust possible in global commerce and helps us to deliver on our wider goal of using Information for Good®.”

    Monevo’s platform enables comparison websites and other online brands known as publishers to embed highly personalized credit offers, predominantly in the U.K. and U.S. markets. Working with over 150 banks and credit providers globally, Monevo’s centralized technology and decisioning infrastructure integrates lenders and publishers, allowing them to deliver better outcomes to consumers who are searching online for credit offers. Those consumers are able to see their likelihood of being approved for credit products before applying with lenders, instilling confidence and removing unnecessary searches that have the potential to impact their credit scores adversely.

    “Monevo’s proposition enables credit distribution for some of the world’s largest banks and lenders, supporting our aim to improve access to credit for consumers,” said Madhu Kejriwal, Regional President, TransUnion U.K. & Europe. “We expect that the acquisition will further enable publishers and lenders to benefit from improved economics, while consumers experience a more compelling and personalized online credit shopping experience – receiving tailored offers that won’t impact their credit scores.”

    “Today Monevo powers credit distribution for some of the world’s largest banks and lenders, achieved through a world-class technology platform and powerful, mutually beneficial relationships in both the U.S. and U.K. markets,” said Greg Cox, Founder & CEO of Quint Group and Monevo. “This acquisition is the natural next step for Monevo. With TransUnion, we expect that the business will be able to leverage new resources and access new markets, allowing it to continue to realise its potential and improve access to credit on a global scale.”

    The terms of the transaction have not been disclosed. The transaction was funded via existing cash-on-hand and is not expected to have a material impact on leverage, liquidity or TransUnion’s 2025 operating results.

    About TransUnion (NYSE: TRU)

    TransUnion is a global information and insights company with over 13,000 associates operating in more than 30 countries, including the United Kingdom. We make trust possible by ensuring each person is reliably represented in the marketplace. We do this by providing an actionable view of consumers, stewarded with care.

    Through our acquisitions and technology investments we have developed innovative solutions that extend beyond our strong foundation in core credit into areas such as marketing, fraud, risk and advanced analytics. As a result, consumers and businesses can transact with confidence and achieve great things. We call this Information for Good® — and it leads to economic opportunity, great experiences and personal empowerment for millions of people around the world.

    For more information, visit www.transunion.com

    TransUnion Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the current beliefs and expectations of TransUnion’s management and are subject to significant risks and uncertainties. Actual results may differ materially from those described in the forward-looking statements. Any statements made in this press release that are not statements of historical fact, including statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements include information concerning possible or assumed future results of operations, including our guidance and descriptions of our business plans and strategies. These statements often include words such as “anticipate,” “expect,” “guidance,” “suggest,” “plan,” “believe,” “intend,” “estimate,” “target,” “project,” “should,” “could,” “would,” “may,” “will,” “forecast,” “outlook,” “potential,” “continues,” “seeks,” “predicts,” or the negatives of these words and other similar expressions.

    Factors that could cause actual results to differ materially from those described in the forward-looking statements include: failure to realise the synergies and other benefits expected from the acquisition of Monevo;  the possibility that the acquisition, including the integration of Monevo, may be more costly to complete than anticipated; business disruption following the acquisition closing; risks related to disruption of management time from ongoing business operations and other opportunities due to the acquisition; the effects of pending and future legislation and regulatory actions and reforms; macroeconomic and industry trends and adverse developments in the debt, consumer credit and financial services markets and other macroeconomic factors beyond TransUnion’s control; risks related to TransUnion’s indebtedness, including our ability to make timely payments of principal and interest and our ability to satisfy covenants in the agreements governing our indebtedness; and other one-time events and other factors that can be found in our Annual Report on Form 10-K for the year ended December 31, 2024, and any subsequent Quarterly Report on Form 10-Q or Current Report on Form 8-K, which are filed with the Securities and Exchange Commission and are available on TransUnion’s website (www.transunion.com/tru) and on the Securities and Exchange Commission’s website (www.sec.gov). Many of these factors are beyond our control. The forward-looking statements contained in this press release speak only as of the date of this press release. We undertake no obligation to publicly release the result of any revisions to these forward-looking statements to reflect the impact of events or circumstances that may arise after the date of this press release.

    Contact Dave Blumberg
    TransUnion
    E-mail david.blumberg@transunion.com
    Telephone 312-972-6646

    The MIL Network –

    April 2, 2025

  • MIL-OSI: YieldMax™ ETFs Announces Distributions on BIGY ($0.4582) and SOXY ($0.4266)

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO and MILWAUKEE and NEW YORK, April 01, 2025 (GLOBE NEWSWIRE) — YieldMax™ today announced distributions for the YieldMax™ Target 12™ ETFs listed in the table below. The Fund seeks to generate income with a 12% target annual income level.


    ETF
    Ticker    1    		 ETF Name Distribution
    Frequency    		 Distribution 
    per Share    		 Distribution
    Rate    2    		 30-Day
    SEC Yield3    		 ROC4 Ex-Date &
    Record Date    		 Payment
    Date
    BIGY YieldMax™ Target 12™ Big
    50 Option Income ETF    		   Monthly   $0.4582 12.00% 0.03% 0.00% 4/2/25 4/3/25
    SOXY YieldMax™ Target 12™
    Semiconductor Option
    Income ETF    		 Monthly $0.4266 12.00% 0.00% 0.00% 4/2/25 4/3/25

    You are not guaranteed a distribution under the ETFs. Distributions for the ETFs (if any) are variable and may vary significantly from period to period and may be zero.

    Investors in the Funds will not have rights to receive dividends or other distributions with respect to the underlying reference asset(s).

    1 Each ETF’s strategy will cap potential gains if its reference asset’s shares increase in value, yet subjects an investor to all potential losses if the reference asset’s shares decrease in value. Such potential losses may not be offset by income received by the ETF.

    2 The Distribution Rate shown is as of close on March 31, 2025. The Distribution Rate is the annual distribution rate an investor would receive if the most recent distribution, which includes option income, remained the same going forward. The Distribution Rate is calculated by annualizing an ETF’s Distribution per Share and dividing such annualized amount by the ETF’s most recent NAV. The Distribution Rate represents a single distribution from the ETF and does not represent its total return. Distributions may also include a combination of ordinary dividends, capital gain, and return of investor capital, which may decrease an ETF’s NAV and trading price over time. As a result, an investor may suffer significant losses to their investment. These Distribution Rates may be caused by unusually favorable market conditions and may not be sustainable. Such conditions may not continue to exist and there should be no expectation that this performance may be repeated in the future.

    3 The 30-Day SEC Yield represents net investment income, which excludes option income, earned by such ETF over the 30-Day period ended February 28, 2025, expressed as an annual percentage rate based on such ETF’s share price at the end of the 30-Day period.

    4 ROC refers to Return of Capital. The ROC percentage is the portion of the distribution that represents an investor’s original investment.

    Each Fund has a limited operating history and while each Fund’s objective is to provide current income, there is no guarantee the Fund will make a distribution. Distributions are likely to vary greatly in amount.

    Standardized Performance

    For BIGY, click here. For SOXY, click here.

    Important Information

    This material must be preceded or accompanied by the prospectus. For all prospectuses, click here.

    Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about each Fund, visit our website at www.YieldMaxETFs.com. Read the prospectus or summary prospectus carefully before investing.

    There is no guarantee that any Fund’s investment strategy will be properly implemented, and an investor may lose some or all of its investment in any such Fund.

    Tidal Financial Group is the adviser for all YieldMax™ ETFs.

    THE FUND, TRUST, AND ADVISER ARE NOT AFFILIATED WITH ANY UNDERLYING REFERENCE ASSET.

    Risk Disclosures

    Investing involves risk. Principal loss is possible.

    Call Writing Strategy Risk. The path dependency (i.e., the continued use) of the Fund’s call writing strategy will impact the extent that the Fund participates in the positive price returns of the underlying reference asset and, in turn, the Fund’s returns, both during the term of the sold call options and over longer periods.

    Counterparty Risk. The Fund is subject to counterparty risk by virtue of its investments in options contracts. Transactions in some types of derivatives, including options, are required to be centrally cleared (“cleared derivatives”). In a transaction involving cleared derivatives, the Fund’s counterparty is a clearing house rather than a bank or broker. Since the Fund is not a member of clearing houses and only members of a clearing house (“clearing members”) can participate directly in the clearing house, the Fund will hold cleared derivatives through accounts at clearing members.

    Derivatives Risk. Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, or funds (including ETFs), interest rates or indexes. The Fund’s investments in derivatives may pose risks in addition to, and greater than, those associated with directly investing in securities or other ordinary investments, including risk related to the market, imperfect correlation with underlying investments or the Fund’s other portfolio holdings, higher price volatility, lack of availability, counterparty risk, liquidity, valuation and legal restrictions.

    Options Contracts. The use of options contracts involves investment strategies and risks different from those associated with ordinary portfolio securities transactions. The prices of options are volatile and are influenced by, among other things, actual and anticipated changes in the value of the underlying instrument, including the anticipated volatility, which are affected by fiscal and monetary policies and by national and international political changes in the actual or implied volatility or the reference asset, the time remaining until the expiration of the option contract and economic events.

    Distribution Risk. As part of the Fund’s investment objective, the Fund seeks to provide current income. There is no assurance that the Fund will make a distribution in any given period. If the Fund does make distributions, the amounts of such distributions will likely vary greatly from one distribution to the next.

    High Portfolio Turnover Risk. The Fund may actively and frequently trade all or a significant portion of the Fund’s holdings. A high portfolio turnover rate increases transaction costs, which may increase the Fund’s expenses.

    Liquidity Risk. Some securities held by the Fund, including options contracts, may be difficult to sell or be illiquid, particularly during times of market turmoil.

    Non-Diversification Risk. Because the Fund is “non-diversified,” it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund.

    New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.

    Price Participation Risk. The Fund employs an investment strategy that includes the sale of call option contracts, which limits the degree to which the Fund will participate in increases in value experienced by the underlying reference asset over the Call Period.

    Inflation Risk. Inflation risk is the risk that the value of assets or income from investments will be less in the future as inflation decreases the value of money. As inflation increases, the present value of the Fund’s assets and distributions, if any, may decline.

    YieldMax™ ETFs are distributed by Foreside Fund Services, LLC. Foreside is not affiliated with Tidal Financial Group, or YieldMax™ ETFs.

    © 2025 YieldMax™ ETFs

    The MIL Network –

    April 2, 2025

  • MIL-OSI: Trust Stamp files its 2024 10-K and gives forward-looking revenue and expense guidance

    Source: GlobeNewswire (MIL-OSI)

    Atlanta, GA, April 01, 2025 (GLOBE NEWSWIRE) — Trust Stamp announces that:

    1. It filed its 10-K report for the 2024 Financial Year after the Nasdaq market closed on March 31st, 2025.
    2. Q4 2024 Revenue was $1.50m increased from $0.51m for Q3 of 2024 and $0.58m for Q4 of 2023.
    3. Estimates of anticipated revenue from existing contracted customers for FY 2025 are believed to exceed $5.0m and do not include projected revenue from contracted customers that are not yet revenue-generating.
    1. Expenses reductions for the balance of 2025 are estimated to result in new savings of $0.1m per month versus expenses in 2024.
    1. Cash burn for Q1 of 2025 is estimated at $0.75m with an average burn over the balance of FY 2025 estimated at $0.2m per month based solely on revenue from existing customers that are both contracted and currently revenue-generating.

    Inquiries:
    Trust Stamp                                                   Email: Shareholders@truststamp.ai 

    About Trust Stamp

    Trust Stamp, is a global provider of AI-powered services for use in multiple sectors including banking and finance, regulatory compliance, government, healthcare, real estate, communications, and humanitarian services. Its technology empowers organizations via advanced solutions that reduce fraud, tokenize and secure data, securely authenticate users while protecting personal privacy, reduce friction in digital transactions, and increase operational efficiency, enabling customers to accelerate secure financial inclusion and reach and serve a broader base of users worldwide.

    Located in eight countries across North America, Europe, Asia, and Africa, Trust Stamp trades on the Nasdaq Capital Market (Nasdaq: IDAI).

    Safe Harbor Statement: Caution Concerning Forward-Looking Remarks 

    All statements in this release that are not based on historical fact are “forward-looking statements” including within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The information in this announcement may contain forward-looking statements and information related to, among other things, the company, its business plan and strategy, and its industry. These statements reflect management’s current views with respect to future events-based information currently available and are subject to risks and uncertainties that could cause the company’s actual results to differ materially from those contained in the forward-looking statements. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. The company does not undertake any obligation to

    The MIL Network –

    April 2, 2025

  • MIL-OSI: Bitfarms Provides March 2025 Production and Operations Update

    Source: GlobeNewswire (MIL-OSI)

      – Operational hashrate of 19.5 EHuM and fleet efficiency of 19 w/TH–
    -Completes acquisition of Stronghold Digital Mining & sale of Yguazu, Paraguay data center-
    -Appoints two new key HPC/AI and Infrastructure Executives-

    This news release constitutes a “designated news release” for the purposes of the Company’s second amended and restated prospectus supplement dated December 17, 2024, to its short form base shelf prospectus dated November 10, 2023.

    TORONTO, April 01, 2025 (GLOBE NEWSWIRE) — Bitfarms Ltd. (NASDAQ/TSX: BITF), a global energy and compute infrastructure company, today issued its latest monthly production report. All financial references are in U.S. dollars.

    CEO Ben Gagnon stated, “March was a very productive month for Bitfarms. We successfully closed both our transformative acquisition of Stronghold Digital Mining, the largest M&A deal between two public miners in our industry, and the strategic sale of our 200 MW Yguazu data center. Through these transactions, we have rebalanced our portfolio to the U.S. where we expect to achieve greater yields per MW, reduced our average cost of power across our portfolio, minimized our 2025 capex requirements, and secured highly desirable sites that will enable us to diversify beyond Bitcoin mining into HPC/AI and energy generation.

    “In addition, we advanced our HPC/AI strategy with both the appointments of James Bond, SVP of HPC, and Craig Hibbard, SVP of Infrastructure, and the continued evaluation of our three Pennsylvania sites for potential HPC conversion. Initial studies from our strategic partners confirmed that all three sites are well-suited: they are strategically located near other data center campuses and peering hubs and they have the necessary power, land and fiber infrastructure to support HPC. We expect to receive full, detailed feasibility studies in Q2. With the steps we’ve taken in Q1, we now have the properties, internal team, and strategic engineering and marketing advisors in place, taking a holistic approach to advancing our HPC/AI business.”

    SVP of Global Mining Operations Alex Brammer said, “During March we grew our operational hashrate 21% to 19.5 EHuM and reached our Q2 efficiency target of 19 w/TH three months ahead of schedule. Our energy portfolio is now larger and more efficient, with stronger operating economics and significant U.S. growth potential.”

    March 2025 Select Operating Highlights

    Key Performance Indicators March 2025
    (proforma)    		 February
    2025
    Total BTC earned 280 213
    Month End Operating EHuM 19.5 16.1
    BTC/Avg. EH/s 17 16
    Average Operating EHuM 16.4 13.4
    Energized Capacity (MW) 461 437
    Watts/Terahash Efficiency (w/TH) 19 20
    • 19.5 EHuM operational at March 31, 2025, up 21% M/M.
    • 16.4 EHuM average operational, up 22% M/M.
    • 17 BTC/average EHuM, 6% higher M/M.
    • 280 BTC earned on a proforma basis, 31% higher M/M.
    • 9.0 BTC earned daily on average, equal to ~$738,000 per day based on a BTC price of $82,000 at March 31, 2025.

    March 2025 Financial Update

    • Total liquidity of $132 million, including approximately $39 million in cash at March 31, 2025.
    • Treasury of 1,140 BTC, down from 1,260 BTC last month and representing $93.4 million based on the Bitcoin price of $82,000 at March 31, 2025.

    About Bitfarms Ltd.
    Founded in 2017, Bitfarms is a global energy and compute infrastructure company that develops, owns, and operates vertically integrated energy generation and data centers. Bitfarms currently has 15 operating data centers situated in four countries: the United States, Canada, Argentina and Paraguay.

    To learn more about Bitfarms’ events, developments, and online communities:

    www.bitfarms.com
    https://www.facebook.com/bitfarms/
    https://x.com/Bitfarms_io
    https://www.instagram.com/bitfarms/
    https://www.linkedin.com/company/bitfarms/

    Glossary of Terms

    • Y/Y or M/M= year over year or month over month
    • BTC or BTC/day = Bitcoin or Bitcoin per day
    • EH or EH/s = Exahash or exahash per second
    • EHuM = Exahash Under Management, which includes Bitfarms’ proprietary hashrate and hashrate being hosted by Bitfarms for third-party hosting clients
    • MW or MWh = Megawatts or megawatt hour
    • GW or GWh= Gigawatts or gigawatt hour
    • w/TH = Watts/Terahash efficiency (includes cost of powering supplementary equipment)
    • HPC/AI = High Performance Computing / Artificial Intelligence
    • Energized capacity= Power available

    Forward-Looking Statements

    This news release contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) that are based on expectations, estimates and projections as at the date of this news release and are covered by safe harbors under Canadian and United States securities laws. The statements and information in this release regarding the benefits of the acquisition of Stronghold Digital Mining, Inc., the ability to enhance the business of the Company through adding additional human resources to HPC/AI strategies, its revenue diversification strategy, the North American energy and compute infrastructure strategy, opportunities relating to the potential of the Company’s data centers for HPC/AI opportunities, the merits and ability to secure long-term contracts associated with HPC/AI customers, the success of the Company’s HPC/AI strategy in general and its ability to capitalize on growing demand for AI computing while securing predictable cash flows, the Company’s energy pipeline and its anticipated megawatt growth, the Company’s ability to drive greater shareholder value, projected growth, target hashrate, and other statements regarding future growth, plans and objectives of the Company are forward-looking information.

    Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “prospects”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information.

    This forward-looking information is based on assumptions and estimates of management of Bitfarms at the time they were made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of Bitfarms to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors, risks and uncertainties include, among others: an inability to successfully integrate the business of Stronghold Digital Mining, Inc. as contemplated, or at all; an inability to apply the Company’s data centers to HPC/AI opportunities on a profitable basis; a failure to secure long-term contracts associated with HPC/AI customers on terms which are economic or at all; the construction and operation of new facilities may not occur as currently planned, or at all; expansion of existing facilities may not materialize as currently anticipated, or at all; new miners may not perform up to expectations; revenue may not increase as currently anticipated, or at all; the ongoing ability to successfully mine digital currency is not assured; failure of the equipment upgrades to be installed and operated as planned; the availability of additional power may not occur as currently planned, or at all; expansion may not materialize as currently anticipated, or at all; the power purchase agreements and economics thereof may not be as advantageous as expected; potential environmental cost and regulatory penalties due to the operation of the former Stronghold plants which entail environmental risk and certain additional risk factors particular to the former business and operations of Stronghold including, land reclamation requirements may be burdensome and expensive, changes in tax credits related to coal refuse power generation could have a material adverse effect on the business, financial condition, results of operations and future development efforts, competition in power markets may have a material adverse effect on the results of operations, cash flows and the market value of the assets, the business is subject to substantial energy regulation and may be adversely affected by legislative or regulatory changes, as well as liability under, or any future inability to comply with, existing or future energy regulations or requirements, the operations are subject to a number of risks arising out of the threat of climate change, and environmental laws, energy transitions policies and initiatives and regulations relating to emissions and coal residue management, which could result in increased operating and capital costs and reduce the extent of business activities, operation of power generation facilities involves significant risks and hazards customary to the power industry that could have a material adverse effect on our revenues and results of operations, and there may not have adequate insurance to cover these risks and hazards, employees, contractors, customers and the general public may be exposed to a risk of injury due to the nature of the operations, limited experience with carbon capture programs and initiatives and dependence on third-parties, including consultants, contractors and suppliers to develop and advance carbon capture programs and initiatives, and failure to properly manage these relationships, or the failure of these consultants, contractors and suppliers to perform as expected, could have a material adverse effect on the business, prospects or operations; the digital currency market; the ability to successfully mine digital currency; it may not be possible to profitably liquidate the current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on operations; an increase in network difficulty may have a significant negative impact on operations; the volatility of digital currency prices; the anticipated growth and sustainability of hydroelectricity for the purposes of cryptocurrency mining in the applicable jurisdictions; the inability to maintain reliable and economical sources of power to operate cryptocurrency mining assets; the risks of an increase in electricity costs, cost of natural gas, changes in currency exchange rates, energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which Bitfarms operates and the potential adverse impact on profitability; future capital needs and the ability to complete current and future financings, including Bitfarms’ ability to utilize an at-the-market offering program ( “ATM Program”) and the prices at which securities may be sold in such ATM Program, as well as capital market conditions in general; share dilution resulting from an ATM Program and from other equity issuances; volatile securities markets impacting security pricing unrelated to operating performance; the risk that a material weakness in internal control over financial reporting could result in a misstatement of financial position that may lead to a material misstatement of the annual or interim consolidated financial statements if not prevented or detected on a timely basis; risks related to the Company ceasing to qualify as an “emerging growth company”; risks related to unsolicited investor interest, takeover proposals, shareholder activism or proxy contests relating to the election of directors; historical prices of digital currencies and the ability to mine digital currencies that will be consistent with historical prices; and the adoption or expansion of any regulation or law that will prevent Bitfarms from operating its business, or make it more costly to do so. For further information concerning these and other risks and uncertainties, refer to Bitfarms’ filings on www.sedarplus.ca (which are also available on the website of the U.S. Securities and Exchange Commission (the “SEC”) at www.sec.gov), including the management’s discussion & analysis for the year-ended December 31, 2024 Although Bitfarms has attempted to identify important factors that could cause actual results to differ materially from those expressed in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended, including factors that are currently unknown to or deemed immaterial by Bitfarms. There can be no assurance that such statements will prove to be accurate as actual results, and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on any forward-looking information. Bitfarms does not undertake any obligation to revise or update any forward-looking information other than as required by law. Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the Toronto Stock Exchange, Nasdaq, or any other securities exchange or regulatory authority accepts responsibility for the adequacy or accuracy of this release.

    Investor Relations Contact:

    Bitfarms
    Tracy Krumme
    SVP, Head of IR & Corp. Comms.
    +1 786-671-5638
    tkrumme@bitfarms.com

    Media Contact: 

    Bitfarms
    Caroline Brady Baker 
    Director, Communications   
    cbaker@bitfarms.com 

    The MIL Network –

    April 2, 2025

  • MIL-OSI: Cielo Announces Relocation of First Planned Facility to British Columbia and Provides Update on Proposed Asset Acquisition and Corporate Matters

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, April 01, 2025 (GLOBE NEWSWIRE) — Cielo Waste Solutions Corp. (TSXV:CMC; OTC PINK:CWSFF) (“Cielo” or the “Company”) provides an update on certain business and corporate matters.

    First Planned Waste to Fuels Facility – Scrap Railway Ties to Green Hydrogen

    In light of changes in market conditions, the Company announces its intention to relocate its first planned commercial waste to fuel facility for the processing of scrap railway ties from Carseland, Alberta to British Columbia, and a transition in fuel to be produced from Renewable Diesel to Green Hydrogen. This shift remains aligned with the Company’s commitment to commercialize renewable energy initiatives.

    This strategic pivot allows Cielo to explore funding opportunities through the British Columbia Low Carbon Fuel Standard (BCLCFS) credit program, which offers financial incentives for reducing carbon emissions.

    Cielo is engaged in advanced discussions with a technology provider on a project in British Columbia that will utilize scrap railway ties as feedstock to produce Green Hydrogen for use in the British Columbia market.

    “As Cielo completes a shift in our strategy, we also continue to be flexible in our project execution. We are willing and prepared to pivot as the political and technological landscapes change. In addition, as the demand for renewable fuels changes, Cielo understands the need to revise our approach to meet market demand,” said Ryan C. Jackson, CEO of Cielo. “This decision was not made in haste. We believe it is an important step forward in ensuring our resources are dedicated to projects that have the highest potential for success in the short term and sustainable growth in the long term.”

    Rocky Mountain Clean Fuels Acquisition Update

    In light of the foregoing changes, the Company also announces that it will not proceed with the previously announced proposed acquisition (the “Proposed Acquisition”) by Cielo of an Enhanced Gas to Liquids (“EGTLTM”) facility located in Carseland, Alberta (the “EGTLTMFacility”), currently owned and operated by Rocky Mountain Clean Fuels Inc. (“RMCFI”), which deploys patented Enhanced Gas-To-Liquids technology.

    The Company had previously announced its intention to complete a proposed transaction with RMCFI with a view to enhancing the process deployed at the EGTL™ Facility and diversifying the inputs used to process synthetic diesel and jet fuel. Cielo had intended to build a gasifier on the land adjacent to the EGTL™ Facility.

    Due to ongoing market uncertainty and after careful evaluation, Cielo has determined that the uncertainty around the regulatory landscape and shifting market conditions present significant challenges to advancing the Proposed Acquisition in a manner that aligns with the Company’s long-term strategic goals. The project development agreement between Cielo and RMCFI that had been acquired under the Asset Purchase Agreement with Expander (each as defined below) has expired.

    Cielo remains focused on executing its broader strategy of sustainable and profitable fuel production, including new opportunities in Green Hydrogen and other low-carbon initiatives. The Company continues to explore alternative partnerships and funding opportunities to drive its commitment to innovation and environmental sustainability.

    Expander Energy Dispute Resolution

    In November 2023, pursuant to an asset purchase agreement dated September 15, 2023, as amended and restated on November 8, 2023 (the “Asset Purchase Agreement”) between Cielo and Expander Energy Inc (“Expander”), Cielo acquired certain assets and liabilities of Expander to use and operate Expander’s patented EBTL™ and BGTL™ technologies (the “Transaction”).

    Concurrently with the closing of the Transaction, Cielo and Expander executed a license agreement (the “License Agreement”), providing Cielo with an exclusive license in Canada to use Expander’s patented EBTL™ and BGTL™ technologies and related intellectual property for all feedstocks, as well as an exclusive license in the United States for creosote and treated wood waste (the “Licensed Technologies”).

    As a result of recent disagreements between Cielo and Expander on various matters, the Company has notified Expander of its intention to initiate a dispute resolution process in accordance with the terms of the License Agreement. Prior to this, Cielo had received from Expander notices of breach (collectively the “Notices”) with regard to the Asset Purchase Agreement, the License Agreement and a master service agreement executed between Cielo and Expander upon closing of the Transaction. Among other things, the Notices include Expander’s advice that Expander intends to terminate the License Agreement upon a second notice, which Cielo may expect to receive in or after April 2025. Cielo intends to dispute some or all of the assertions made in the Notices and intends to have its own commercial, financial and strategic concerns related to the Licensed Technologies addressed. The Company will continue to provide material updates as they become available.

    “Through this challenging but in our view necessary juncture, we remain dedicated in our mission of investing in innovation in the renewable fuels sector,” said Mr. Jackson. “As we navigate these discussions, our priority is to act in the best interests of our shareholders and stakeholders while maintaining a constructive approach to resolving these matters.”

    Cielo will continue to execute its existing business strategy and technological advancements, while ensuring its leadership role in sustainable waste-to-energy solutions.

    Director Resignation

    Cielo announces that James H. Ross has resigned from its Board of Directors, effective immediately. The Company thanks Mr. Ross for his contributions and leadership during his tenure and wishes him success in his future endeavors.

    Mr. Ross was appointed to the Board of Directors in November 2023 pursuant to the Asset Purchase Agreement with Expander.

    Annual General Meeting

    As previously announced, Cielo had cancelled its rescheduled annual general meeting of shareholders (the “AGM”) to be held on December 19, 2024 due to a Canada Post Strike. Pursuant to the Business Corporations Act (British Columbia), the Company was required to hold the AGM on or before December 31, 2024 (the “Original AGM Deadline”), however it was determined that rescheduling the AGM for a date on or before the Original AGM Deadline was not feasible given the continuing postal strike and mailing requirements. As a result, the Company had made application to request an extension, which was granted until June 30, 2025. Cielo intends to hold the AGM in June 2025 and will provide additional details as they become available.

    Corporate Update Webinar

    Cielo is pleased to announce a corporate update webinar (the “Webinar”) with CEO, Ryan C. Jackson and CFO, Jasdeep K.B. Dhaliwal, scheduled for April 10th, 2025. This event is intended to provide shareholders and stakeholders with updates on the Company’s strategic initiatives and future outlook. Further details will be released prior the date of the Webinar.

    ABOUT CIELO

    Cielo Waste Solutions is a publicly traded company focused on transforming waste materials into high-value renewable fuels. Cielo seeks to address global waste challenges while contributing to the circular economy and reducing carbon emissions. Cielo is fueling renewable change with a mission to be a leader in the wood by-product-to-fuels industry by using environmentally friendly, economically sustainable and market-ready technologies. Cielo is committed to helping society ‘change the fuel, not the vehicle’, which we believe will contribute to generating positive returns for shareholders. Cielo shares are listed on the TSX Venture Exchange under the symbol “CMC,” as well as on the OTC Pink Market under the symbol “CWSFF.”

    For further information please contact:

    Cielo Investor Relations

    Ryan Jackson, CEO
    Phone: (403) 348-2972
    Email: investors@cielows.com

    CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

    This news release contains certain forward-looking statements and forward-looking information (collectively referred to herein as “forward-looking statements”) within the meaning of applicable Canadian securities laws. All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “anticipate”, “achieve”, “could”, “believe”, “plan”, “intend”, “objective”, “continuous”, “ongoing”, “estimate”, “outlook”, “expect”, “may”, “will”, “project”, “should” or similar words, including negatives thereof, suggesting future outcomes.

    Forward-looking statements are subject to both known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, that may cause the actual results, level of activity, performance, or achievements of the Company to be materially different from those expressed or implied by such forward looking statements. Forward-looking statements and information are based on plans, expectations and estimates of management at the date the information is provided and are subject to certain factors and assumptions. Cielo is making forward-looking statements, including but not limited to with respect to: the change of location of the first planned commercial facility and the focus on Green Hydrogen; the exploration and use of financial incentives in British Columbia; that the Company will not proceed with the Proposed Acquisition; the Company’s strategic focus; the Company’s intention to continue to explore alternative partnerships and funding opportunities; the dispute resolutions process with Expander, Cielo’s intentions with respect thereto and that the Company will provide further updates as they become available; that Cielo will continue to execute its existing business strategy and technological advancements, while ensuring its leadership role in sustainable waste-to-energy solutions; the AGM and the timing thereof; and the Webinar and the date thereof.

    Investors should continue to review and consider information disseminated through news releases and filed by the Company on SEDAR+. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended.

    Forward-looking statements are not a guarantee of future performance and involve a number of risks and uncertainties, some of which are described herein. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company’s actual performance and results to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Any forward-looking statements are made as of the date hereof and, except as required by law, the Company assumes no obligation to publicly update or revise such statements to reflect new information, subsequent or otherwise.

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

    The MIL Network –

    April 2, 2025

  • MIL-OSI: CECO Environmental Announces Completion of the Divestiture of Its Fluid Handling Business to May River Capital

    Source: GlobeNewswire (MIL-OSI)

    ADDISON, Texas, April 01, 2025 (GLOBE NEWSWIRE) — CECO Environmental Corp. (Nasdaq: CECO), a leading environmentally focused, diversified industrial company whose solutions protect people, the environment and industrial equipment, today announced it has completed the previously announced divestiture of its Fluid Handling business (also known as its Global Pump Solutions, or GPS, business) contained in its Industrial Process Solutions segment to May River Capital, effective March 31, 2025.

    The enterprise value of the transaction is approximately $110 million, paid in cash at closing. The Company intends to use the proceeds from this transaction to pay down debt and to fund future strategic growth investments.

    The GPS business consists of three niche leadership severe service industrial metallic, fiberglass and thermoplastic centrifugal pump brands – Dean, Fybroc and Sethco – which joined the CECO family through an acquisition in 2013. The business operates from strategic locations in Indianapolis, Indiana and Telford, Pennsylvania, and services over 1,500 customers globally.

    “I am pleased to have completed our previously announced divesture of GPS, which enables greater alignment of our portfolio of leading environmental solution businesses against our high growth opportunities in energy and industrial markets,” said Todd Gleason, CECO’s Chief Executive Officer. “We believe that the GPS business is well positioned as a niche leader in its respective end markets and applications, and we also believe that we have found the right buyer and future home to ensure its continued success and development of the GPS team. This sale will – after our recent acquisitions of Verantis Environmental and Profire Energy – create additional capacity for further investment in CECO’s growth and business expansion, and execution of our strategies in Industrial Air, Industrial Water, and the Energy Transition.”

    EC M&A and Koley Jessen were the primary financial and legal advisors to CECO for the transaction. Paul Hastings and TD Securities served as legal and financial counsel to May River Capital.

    ABOUT CECO ENVIRONMENTAL
    CECO Environmental is a leading environmentally focused, diversified industrial company, serving a broad landscape of industrial air, industrial water, and energy transition markets globally through its key business segments: Engineered Systems and Industrial Process Solutions. Providing innovative technology and application expertise, CECO helps companies grow their business with safe, clean, and more efficient solutions that help protect people, the environment and industrial equipment. In regions around the world, CECO works to improve air quality, optimize the energy value chain, and provide custom solutions for applications in power generation, petrochemical processing, refining, midstream gas transport and treatment, electric vehicle and battery production, metals and mineral processing, polysilicon production, battery recycling, beverage can production, and produced and oily water/wastewater treatment along with a wide range of other industrial applications. CECO is listed on Nasdaq under the ticker symbol “CECO.” Incorporated in 1966, CECO’s global headquarters is in Addison, Texas. For more information, please visit www.cecoenviro.com.

    About May River Capital
    May River Capital is a Chicago-based private equity firm focused on partnering with lower middle-market industrial growth businesses. The firm invests in high-performing companies in advanced manufacturing, engineered products and instrumentation, specialized industrial services, and value-added industrial distribution services. For more information, please visit www.mayrivercapital.com.

    SAFE HARBOR STATEMENT
    Any statements contained in this Press Release, other than statements of historical fact, including statements about management’s beliefs and expectations, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, both as amended, and should be evaluated as such. These statements are made on the basis of management’s views and assumptions regarding future events and business performance. We use words such as “believe,” “expect,” “anticipate,” “intends,” “estimate,” “forecast,” “project,” “will,” “plan,” “should” and similar expressions to identify forward-looking statements. Forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Potential risks and uncertainties, among others, that could cause actual results to differ materially are discussed under “Part I – Item 1A. Risk Factors” of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and may be included in subsequently filed Quarterly Reports on Form 10-Q, and include, but are not limited to: the effect of the divestiture of our Global Pump Solutions business on business relationships, operating results, and business generally, disruption of current plans and operations and potential difficulties in employee retention as a result of the transaction, diversion of management’s attention from ongoing business operations in connection with the integration of recent acquisitions, the amount of the costs, fees, expenses and other charges related to the transaction, the achievement of the anticipated benefits of transactions, our ability to successfully integrate acquired businesses and realize the synergies from acquisitions, as well as a number of factors related to our business, including the sensitivity of our business to economic and financial market conditions generally and economic conditions in CECO’s service areas; dependence on fixed price contracts and the risks associated therewith, including actual costs exceeding estimates and method of accounting for revenue; the effect of growth on our infrastructure, resources, and existing sales; the ability to expand operations in both new and existing markets; the potential for contract delay or cancellation as a result of on-going or worsening supply chain challenges or other customer considerations; liabilities arising from faulty services or products that could result in significant professional or product liability, warranty, or other claims; changes in or developments with respect to any litigation or investigation; failure to meet timely completion or performance standards that could result in higher cost and reduced profits or, in some cases, losses on projects; the potential for fluctuations in prices for manufactured components and raw materials, including as a result of tariffs and surcharges, and rising energy costs; inflationary pressures relating to rising raw material costs and the cost of labor; the substantial amount of debt incurred in connection with our strategic transactions and our ability to repay or refinance it or incur additional debt in the future; the impact of federal, state or local government regulations; our ability to repurchase shares of our common stock and the amounts and timing of repurchases; our ability to successfully realize the expected benefits of our restructuring program; economic and political conditions generally; our ability to optimize our business portfolio by identifying acquisition targets, executing upon any strategic acquisitions or divestitures, integrating acquired businesses and realizing the synergies from strategic transactions; and the unpredictability and severity of catastrophic events, including cyber security threats, acts of terrorism or outbreak of war or hostilities or public health crises, as well as management’s response to any of the aforementioned factors. Many of these risks are beyond management’s ability to control or predict. Should one or more of these risks or uncertainties materialize, or should the assumptions prove incorrect, actual results may vary in material aspects from those currently anticipated. Investors are cautioned not to place undue reliance on such forward-looking statements as they speak only to our views as of the date the statement is made. Except as required under the federal securities laws or the rules and regulations of the Securities and Exchange Commission, we undertake no obligation to update or review any forward-looking statements, whether as a result of new information, future events or otherwise.

    Company Contact:
    Peter Johansson
    Chief Financial and Strategy Officer
    888-990-6670

    Investor Relations Contact:
    Steven Hooser and Jean Marie Young
    Three Part Advisors
    214-872-2710
    Investor.Relations@OneCECO.com

    The MIL Network –

    April 2, 2025

  • MIL-OSI: Lantronix Names Tech Industry Veteran Todd Rychecky General Manager and Head of Out-of-Band Management Business

    Source: GlobeNewswire (MIL-OSI)

    IRVINE, Calif., April 01, 2025 (GLOBE NEWSWIRE) — Lantronix Inc. (NASDAQ: LTRX), a global leader of compute and connectivity for IoT solutions enabling Edge AI Intelligence, today announced the appointment of Todd Rychecky as general manager and head of its Out-of-Band (OOB) Management Business Line. With a proven track record in network resilience, SaaS solutions and OOB management, Rychecky will play a pivotal role in expanding Lantronix’s market presence and driving strategic growth in this critical sector.

    Rychecky brings a proven track record of success in the OOB management space, having played a key role in scaling OpenGear’s business as well as leading major strategic deals, including a landmark $100 million network resilience contract. With deep expertise in product positioning, SaaS business models and global sales leadership, Rychecky is well-positioned to drive growth and innovation at Lantronix.

    “This is an exciting time for Lantronix as we continue to position ourselves as a leader in AI-driven networking solutions,” said Mathi Gurusamy, chief strategy and product officer at Lantronix. “With Todd’s deep expertise and strategic vision, we are confident in our ability to scale our Out-of-Band business, enhance our market presence and deliver groundbreaking solutions to our customers.”

    As general manager of Lantronix’s OOB Management Business Line, Rychecky is responsible for:

    • Strategic leadership of Lantronix’s OOB Management business, aligning it with the company’s broader AI and connectivity strategy;
    • Driving revenue growth and profitability, leveraging his extensive experience in scaling technology businesses and building successful sales teams;
    • Expanding Lantronix’s OOB market share through product innovation, strategic partnerships and enhanced customer engagement; and
    • Enhancing financial performance, overseeing P&L and optimizing cost efficiencies.

    Rychecky joins Lantronix at a vital moment as the company leverages AI-driven solutions across its core business lines, including OOB Management, Network Equipment and Industrial IoT.

    With a robust product pipeline, including its LM80, LM83, LM4, SLC8000, EMG7500/8500 and Spider as well as its upcoming innovations SLC9000, LM48 and 5G-enabled LM series, Lantronix offers a comprehensive suite of OOB management solutions. These solutions empower enterprises with secure, resilient network management tools, ensuring uninterrupted connectivity and streamlined IT operations. Additionally, Lantronix’s LEVEL SERVICES provide enterprise customers with customized, high-touch technical support to meet evolving network demands.

    “I am thrilled to join Lantronix at this crucial juncture to lead the company’s Out-of-Band management business to new heights,” said Rychecky. “Lantronix has a strong foundation, cutting-edge AI-driven solutions and an unmatched product portfolio. I look forward to driving innovation, scaling the business and helping our customers achieve greater network resilience and operational efficiency.”

    About Lantronix

    Lantronix Inc. is a global leader of compute and connectivity IoT solutions that target high-growth markets, including Smart Cities, Enterprise and Transportation. Lantronix’s products and services empower companies to succeed in the growing IoT markets by delivering customizable solutions that enable AI Edge Intelligence. Lantronix’s advanced solutions include Intelligent Substations infrastructure, Infotainment systems and Video Surveillance, supplemented with advanced Out-of-Band Management (OOB) for Cloud and Edge Computing.

    For more information, visit the Lantronix website.

    “Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking statements within the meaning of federal securities laws, including, without limitation, statements related to Lantronix products or leadership team. These forward-looking statements are based on our current expectations and are subject to substantial risks and uncertainties that could cause our actual results, future business, financial condition, or performance to differ materially from our historical results or those expressed or implied in any forward-looking statement contained in this news release. The potential risks and uncertainties include, but are not limited to, such factors as the effects of negative or worsening regional and worldwide economic conditions or market instability on our business, including effects on purchasing decisions by our customers; our ability to mitigate any disruption in our and our suppliers’ and vendors’ supply chains due to the COVID-19 pandemic or other outbreaks, wars and recent tensions in Europe, Asia and the Middle East, or other factors; future responses to and effects of public health crises; cybersecurity risks; changes in applicable U.S. and foreign government laws, regulations, and tariffs; our ability to successfully implement our acquisitions strategy or integrate acquired companies; difficulties and costs of protecting patents and other proprietary rights; the level of our indebtedness, our ability to service our indebtedness and the restrictions in our debt agreements; and any additional factors included in our Annual Report on Form 10-K for the fiscal year ended June 30, 2024, filed with the Securities and Exchange Commission (the “SEC”) on Sept. 9, 2024, including in the section entitled “Risk Factors” in Item 1A of Part I of that report, as well as in our other public filings with the SEC. Additional risk factors may be identified from time to time in our future filings. In addition, actual results may differ as a result of additional risks and uncertainties about which we are currently unaware or which we do not currently view as material to our business. For these reasons, investors are cautioned not to place undue reliance on any forward-looking statements. The forward-looking statements we make speak only as of the date on which they are made. We expressly disclaim any intent or obligation to update any forward-looking statements after the date hereof to conform such statements to actual results or to changes in our opinions or expectations, except as required by applicable law or the rules of the Nasdaq Stock Market LLC. If we do update or correct any forward-looking statements, investors should not conclude that we will make additional updates or corrections.

    Lantronix Media Contact:
    Gail Kathryn Miller
    Corporate Marketing &
    Communications Manager
    media@lantronix.com

    Lantronix Analyst and Investor Contact:        
    investors@lantronix.com

    ©2025 Lantronix, Inc. All rights reserved. Lantronix is a registered trademark. Other trademarks and trade names are those of their respective owners.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cd905e61-186c-497b-a86f-26916432a567.

    The MIL Network –

    April 2, 2025

  • MIL-OSI: Renasant Corporation Completes Merger with The First Bancshares, Inc.

    Source: GlobeNewswire (MIL-OSI)

    TUPELO, Miss., April 01, 2025 (GLOBE NEWSWIRE) — Renasant Corporation (NYSE: RNST) (“Renasant” or “the Company”) announced today that it has completed its merger with The First Bancshares, Inc., the parent company of The First Bank (“The First”), effective April 1, 2025.

    Although the merger has been completed, full conversion and integration of The First’s operations into Renasant’s is expected to be completed in early August 2025. Until the conversion is completed, The First’s customers should continue to conduct their banking business as usual, including using existing branches, debit cards, checks, credit cards and ATMs, and making loan payments. The Company has posted Frequently Asked Questions that customers of The First may reference to obtain useful information about the transition, which can be found at www.renasantbank.com/welcome.

    ABOUT RENASANT CORPORATION:
    Renasant Corporation is the parent of Renasant Bank, a 121-year-old financial services institution. Renasant has assets of approximately $26 billion and operates more than 280 banking, lending, mortgage, and wealth management offices throughout the Southeast and offers factoring and asset-based lending on a nationwide basis. Additional information is available on Renasant’s website: www.renasantbank.com.

    NOTE TO INVESTORS:

    Forward-looking statements:
    This press release may contain, or incorporate by reference, statements about Renasant Corporation that constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Words and phrases such as “may,” “approximately,” “continue,” “should,” “expects,” “projects,” “anticipates,” “is likely,” “look ahead,” “look forward,” “believes,” “will,” “intends,” “estimates,” “strategy,” “plan,” “could,” “potential,” “possible” and variations of such words and similar expressions are intended to identify such forward-looking statements. Forward-looking statements include information about Renasant’s future financial performance, business strategy, and projected plans and objectives, including related to the merger transaction involving Renasant and The First, and are based on the current beliefs and expectations of management. Renasant’s management believes these forward-looking statements are reasonable, but they are all inherently subject to significant business, economic and competitive risks and uncertainties, many of which are beyond Renasant’s control. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Prospective investors are cautioned that any forward-looking statements are not guarantees of future performance and involve risks and uncertainties and, accordingly, investors should not place undue reliance on these forward-looking statements, which speak only as of the date they are made.

    Contacts:       For Media:
    John S. Oxford
    Senior Vice President
    Chief Marketing Officer
    (662) 680-1219
    joxford@renasant.com    		       For Financials:
    James C. Mabry IV
    Executive Vice President
    Chief Financial Officer
    (662) 680-1281
    jim.mabry@renasant.com
             

    The MIL Network –

    April 2, 2025

  • MIL-OSI United Nations: 1 April 2025 News release WHO issues its first-ever reports on tests and treatments for fungal infections

    Source: World Health Organisation

    The World Health Organization (WHO) today published its first-ever reports addressing the critical lack of medicines and diagnostic tools for invasive fungal diseases, showing the urgent need for innovative research and development (R&D) to close these gaps.

    Fungal diseases are an increasing public health concern, with common infections – such as candida, which causes oral and vaginal thrush – growing increasingly resistant to treatment. These infections disproportionately impact severely ill patients and those with weakened immune systems, including individuals undergoing cancer chemotherapy, living with HIV, and who have had organ transplants.

    “Invasive fungal infections threaten the lives of the most vulnerable but countries lack the treatments needed to save lives,” said Dr Yukiko Nakatani, WHO Assistant Director-General for Antimicrobial Resistance ad interim. “Not only is the pipeline of new antifungal drugs and diagnostics insufficient, there is a void in fungal testing in low- and middle-income countries, even in district hospitals. This diagnostic gap means the cause of people’s suffering remains unknown, making it difficult to get them the right treatments.”

    The fungi in the top ‘critical priority’ category of the WHO’s fungal priority pathogens list (FPPL) are deadly, with mortality rates reaching as high as 88%. Advancements in treatments mean that more people are likely to be living with immunocompromised conditions, which also could mean increases in cases of invasive fungal diseases. This is a complex challenge to manage due to inaccessibility of diagnostic tools, limited availability of antifungal medicines, and a slow and complex R&D process for new treatments.

    Constrained process in developing treatments against deadly fungal infections

    WHO’s report on antifungal drugs highlights that, in the past decade, only four new antifungal drugs have been approved by regulatory authorities in the United States of America, the European Union or China. Currently, nine antifungal medicines are in clinical development to use against the most health-threatening fungi, as detailed in the FPPL.

    However, only three candidates are in phase 3, the final stage of clinical development, meaning few approvals are expected within the next decade. Twenty-two drugs are in preclinical development, an insufficient number to feed a clinical pipeline considering the dropout rates, risks and challenges associated with earlier development stages.

    Issues with current antifungal treatments include serious side effects, frequent drug-drug interactions, limited dosage forms and the need for prolonged hospital stays. The report highlights the urgent need for safer antifungal medicines, possibly reducing requirements for continuous drug monitoring.

    Antifungal medicines that work against a wide range of severe infections caused by fungal priority pathogens are also needed. Children are particularly underserved with few clinical trials exploring paediatric dosing and age-appropriate formulations.

    WHO recommends investing in global surveillance, expanding financial incentives for drug discovery and development, funding basic research to help identify new and unexploited targets on fungi for medicines, and investigating treatments that work by enhancing patients’ immune responses.

    Landscape report of diagnostics for fungal priority pathogens

    The new diagnostics report shows that while commercially available tests exist for fungal priority pathogens, these rely on well-equipped laboratories and trained staff, which means that most people in in low- and middle-income countries (LMICs) do not benefit from them. All countries, but particularly LMICs, need faster, more accurate, cheaper and easier testing for a broad range of fungal priority pathogens, including diagnostic tools that can be used at or near point-of-care.

    There are many challenges with existing antifungal diagnostics; they work only for a limited range of fungi, are insufficiently accurate and take a long time to obtain results. Most of the tests are not well suited to primary and secondary health facilities as certain diagnostics require stable electricity supplies within suitable and equipped laboratories.

    Health workers often have insufficient knowledge about fungal infections as well as the impact of fungi growing more resistant to treatments, resulting in limited ability to perform the testing needed to determine the appropriate treatment. WHO calls for strengthening the global response against invasive fungal diseases and antifungal resistance, and is also developing an implementation blueprint for the FPPL.

    MIL OSI United Nations News –

    April 2, 2025

  • MIL-OSI Europe: Written question – Energy taxation rules – E-001180/2025

    Source: European Parliament

    Question for written answer  E-001180/2025
    to the Commission
    Rule 144
    Michalis Hadjipantela (PPE)

    The Republic of Cyprus, in line with the EU’s energy taxation rules, is expected to impose or expand various environmental taxes on water, fuel and waste management, to meet climate-related targets by encouraging consumers to switch to environmentally friendly alternatives.

    These taxes will drive up costs for households, especially for utilities and transportation, thereby contributing to inflation, the worsening of the energy crisis and further economic uncertainty. These consequences will disproportionately affect lower-income citizens and households, contrary to the EU principle of a socially balanced, just transition.

    The lack of viable alternatives available to consumers in Cyprus, such as greater renewable energy capacity, modernised waste management and better public transport, will place undue stress on the public.

    In the light of the above:

    • 1.Can the Commission provide detailed clarification on whether a deferral of or exemption to the proposed taxes can be granted, under existing or proposed directives?
    • 2.What tools, financial instruments or mechanisms are available to support Cyprus in closing its infrastructure gaps and mitigating the transition costs for households, particularly vulnerable ones?

    Submitted: 19.3.2025

    Last updated: 1 April 2025

    MIL OSI Europe News –

    April 2, 2025

  • MIL-OSI Europe: €50 million in EIB support for Ukraine’s rail border crossings and infrastructure to boost EU connectivity and trade

    Source: European Investment Bank

    • Upgrades on Ukraine’s borders with neighbouring EU countries will help streamline the movement of goods and passengers, and reinforce Ukraine’s role as a transport hub.
    • The project will include repairs to tracks, the relocation of wagon inspections, the reconstruction of an intermodal terminal and new gantry cranes.
    • It is co-financed by the EU Connecting Europe Facility and supported by the EIB’s advisory services.

    The European Investment Bank (EIB) and the government of Ukraine have agreed to direct €50 million of EIB financing to Ukraine’s national railway company, Ukrainian Railways (Ukrzaliznytsia), to upgrade key rail border crossing points with Poland, Slovakia, Hungary and Romania, contributing to the EU-Ukraine Solidarity Lanes initiative to facilitate cross-border connectivity and trade. The agreement was signed by the EIB and the Ministry for Development of Communities and Territories of Ukraine. Backed by an EU guarantee under the Ukraine Facility, the investment will improve freight operations and strengthen Ukraine’s trade and transport links with the European Union. The upgrade is being co-funded through a grant from the European Union under the Connecting Europe Facility (CEF). The initiative is also benefiting from advisory support provided under JASPERS, a joint initiative of the European Commission and the EIB.

    The funding will support the modernisation of border infrastructure and nearby railway sections on the Ukrainian side, helping to increase the volume and speed of goods moving across borders. It includes repairs to worn-out tracks, the relocation of wagon inspections, the reconstruction of an intermodal terminal and the installation of equipment like cranes. Beyond freight operations, the modernisation works will also bring direct benefits to passenger transport, as the upgraded railway tracks will serve both freight and passenger trains, contributing to safer, faster and more efficient cross-border travel.

    This financing is part of the EIB’s broader €150 million support for modernising Ukraine’s railways. In 2022, the first €100 million was provided as part of the EIB’s Ukraine Solidarity Urgent Response to finance emergency repairs and restore essential rail services. It was complemented by a €6.7 million EU grant to address urgent wartime needs.

    EIB Vice-President Teresa Czerwińska, who oversees the Bank’s operations in Ukraine, said: “The EIB has been a long-standing partner of Ukrzaliznytsia – from well before the very first days of the war. With this new support, we are continuing to strengthen Ukraine’s railway infrastructure at a critical time. Upgrading border crossing points and key rail links will help remove bottlenecks, accelerate the flow of goods and support Ukraine’s deeper integration with the European Union.” 

    European Commissioner for Enlargement Marta Kos said: “Today’s agreement between the European Investment Bank and Ukraine is another step towards Ukraine’s gradual integration into the EU. This €50 million investment in the modernisation of key rail border crossing points will strengthen Ukraine’s infrastructure and its connections to the European Union. This is not just an economic measure – it is a political commitment to bring Ukraine even closer to the EU by improving trade, people mobility and transport links. Our message to Ukrainian people is clear: Europe stands with you, today and in the future.”

    Deputy Prime Minister for Restoration of Ukraine – Minister for Development of Communities and Territories of Ukraine Oleksii Kuleba said: “Railway infrastructure has become one of Ukraine’s key lifelines – keeping goods moving, delivering essential services and ensuring strategic links with the European Union. We welcome this €50 million in EIB support, now directed towards upgrading our rail border crossing points. This is a vital step in rebuilding and expanding our border infrastructure. It will unlock new potential for freight flows and bring us even closer to full integration with the European Union.”

    Background information  

    The EIB in Ukraine 

    The EIB Group has supported Ukraine’s resilience, economy and recovery efforts since the first days of Russia’s full-scale invasion, with €2.2 billion already disbursed since 2022. The Bank continues to focus on securing Ukraine’s energy supply, restoring damaged infrastructure and maintaining essential public services across the country. Under a guarantee agreement signed with the European Commission, the EIB is set to invest at least €2 billion more in urgent recovery and reconstruction. This funding is part of the European Union’s €50 billion Ukraine Facility for 2024–2027 and is fully aligned with the priorities of the Ukrainian government.

    MIL OSI Europe News –

    April 2, 2025

  • MIL-OSI Europe: Press release – Parliament urges the EU to defend its interests

    Source: European Parliament 3

    On Tuesday, MEPs discussed trade, defence and competitiveness with Presidents Costa and von der Leyen, pushing for action to strengthen the EU economy and defence.

    European Council President António Costa stressed the leaders’ clear “sense of urgency” to reinforce Europe’s competitiveness and create the conditions for more investment in defence. The 20 March summit was a turning point in the quest for a stronger and sovereign EU, he added. Highlighting that only a more prosperous economy will ensure we have the resources to invest in our defence, he demanded decisive action to close innovation and productivity gaps and cut red tape.

    Commission President Ursula von der Leyen outlined her strategy with regard to the tariffs imposed by the US: “Our objective is a negotiated solution”, she said. However, Europe has “a strong plan to retaliate and we will use it”, she added. Ms von der Leyen also committed to diversify EU relationships with other partners and to “unchain the single market”. She announced that the Commission would be tabling proposals during the coming month to remove single market barriers and prevent new ones from appearing.

    Interventions by MEPs

    With regard to US tariffs, many MEPs stressed the need to boost the EU’s strategic autonomy and resilience. To achieve this, they wanted to see a simplified market economy, to be achieved by reducing the administrative burden. However, some warned that economic reforms should not undermine the green deal’s objectives.

    Referring to Ukraine, many MEPs called for enforcing sanctions on Russia, the use of Russian frozen assets to rebuild Ukraine, and reinforced security commitments for Ukraine. Others stressed that equal attention must be given to the situation in the Middle East, warning against double standards in EU foreign policy.

    Some MEPs criticised Hungary’s stance within the European Council, arguing that by blocking decisions it was undermining the Union’s ability to act effectively in times of crisis. Concerns were also raised over democratic developments in the country, with calls for action to protect fundamental rights and European values.

    On migration, several MEPs stressed the need for a coordinated approach on returns, advocating for safer and more efficient return pathways. They also called for stronger partnerships with countries of origin, to address the root causes of migration.

    You can watch the debate here.

    MIL OSI Europe News –

    April 1, 2025

  • MIL-OSI Europe: Press release – Sustainability and due diligence: MEPs fast-track vote on postponed application

    Source: European Parliament 3

    Having voted to use the urgent procedure, Parliament will decide on Thursday whether to delay application of the new sustainability reporting and due diligence requirements.

    With 427 votes for, 221 against and 14 abstentions, Parliament voted on Tuesday to fast-track its work on the stop-the-clock proposal to postpone the application of social and environmental reporting and due diligence measures.

    Under the proposal to be put to a vote on Thursday, application of social and environmental reporting would be postponed by two years for the second and third waves of companies within its remit.

    As part of the same vote, MEPs will decide whether to delay transposition and application of due diligence measures for one year for the largest companies.

    Next steps

    The Council of the EU, which brings together member states’ ministers, endorsed the Commission proposal on delayed application without changes. If MEPs endorse that text on Thursday, the draft rules would only need formal approval by the Council to enter into force.

    Background

    On 26 February 2025, the European Commission presented the “Omnibus I” simplification package. It comprises, among other files, a directive delaying application of due diligence and sustainability reporting rules, on which MEPs will vote on Thursday, and another directive changing the scope and content of both the due diligence rules and the sustainability reporting requirements. Work on the second of the two directives will now start in Parliament’s Legal Affairs Committee.

    MIL OSI Europe News –

    April 1, 2025

  • MIL-OSI: Hyperscale Data Enters into an Agreement for up to $50 Million in New Equity Financing to Accelerate Buildout of Artificial Intelligence Data Center in Michigan

    Source: GlobeNewswire (MIL-OSI)

    LAS VEGAS, April 01, 2025 (GLOBE NEWSWIRE) — Hyperscale Data, Inc. (NYSE American: GPUS), a diversified holding company (“Hyperscale Data” or the “Company”), today announced it has entered into an agreement for up to $50 million in new equity financing from a single, unaffiliated institutional investor (the “Investor”). The Investor has committed to purchasing up to 50,000 shares of newly designated Series B Convertible Preferred Stock (the “Preferred Transaction”). The capital from the Preferred Transaction will be used to accelerate the buildout of the Company’s state-of-the-art Michigan data center, marking a major milestone in Hyperscale Data’s previously announced growth plans.

    “The Preferred Transaction represents a strong endorsement of our vision and business model,” stated William B. Horne, Chief Executive Officer of Hyperscale Data. “With this infusion of capital, we will be well-positioned to advance construction of our Michigan data center and expand capacity to meet the accelerating demand for scalable, energy-efficient data center infrastructure.”

    The Company’s Michigan data center is being developed as a hyperscale-ready campus designed to serve enterprise, artificial intelligence (“AI”), and high-performance computing (“HPC”) cloud providers with high-density workloads. The facility will feature advanced cooling technologies, robust power infrastructure, and a commitment to sustainable and efficient operations.

    “We are building for the future—laying the groundwork for digital infrastructure that is resilient, efficient, and future-proof,” added Milton “Todd” Ault III, Executive Chairman of Hyperscale Data. “The Preferred Transaction allows us to execute on that vision at speed and scale, while also contributing to economic development and job creation in the local community. The expansion of the overall power capacity at our Michigan data center will begin in the coming months and we will update stockholders as the buildout progresses.”

    The Preferred Transaction will be conducted through a series of monthly closings with the Investor being obligated to fund a minimum of $1 million each month, subject to certain conditions, with the right to accelerate closings. Additional information regarding the securities described above and the terms of the Preferred Transaction will be included in a Current Report on Form 8-K to be filed with the United States Securities and Exchange Commission.

    The preferred shares described above are being issued in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”), and Regulation D promulgated thereunder and, along with the shares of common stock underlying the preferred shares, have not been registered under the Securities Act, or applicable state securities laws. Accordingly, the preferred shares and the underlying shares of common stock issuable upon conversion of the preferred shares may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws.

    This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of shares of the Company’s common stock in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

    For more information on Hyperscale Data and its subsidiaries, Hyperscale Data recommends that stockholders, investors and any other interested parties read Hyperscale Data’s public filings and press releases available under the Investor Relations section at hyperscaledata.com or available at www.sec.gov.

    About Hyperscale Data, Inc.

    Through its wholly owned subsidiaries, Hyperscale Data owns and operates a data center at which it mines digital assets and offers colocation and hosting services for the emerging AI ecosystems and other industries. Hyperscale Data’s subsidiary, Ault Capital Group, Inc. (“ACG”), is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact.

    Hyperscale Data intends to completely divest itself of ACG on or about December 31, 2025, at which time, it would solely be an owner and operator of data centers to support HPC services. Until that happens, the Company provides, through ACG and its wholly and majority-owned subsidiaries and strategic investments, mission-critical products that support a diverse range of industries, including an AI software platform, social gaming platform, equipment rental services, defense/aerospace, industrial, automotive, medical/biopharma and hotel operations. In addition, ACG is actively engaged in private credit and structured finance through a licensed lending subsidiary. Hyperscale Data’s headquarters are located at 11411 Southern Highlands Parkway, Suite 190 Las Vegas, NV 89141.

    Forward-Looking Statements

    This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties.

    Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov and on the Company’s website at hyperscaledata.com.

    Hyperscale Data Investor Contact:
    IR@hyperscaledata.com or 1-888-753-2235

    The MIL Network –

    April 1, 2025

  • MIL-OSI Europe: Briefing – The European Parliament in EU external action – 01-04-2025

    Source: European Parliament

    Based on its Treaties, the European Union (EU) has developed a multifaceted external action policy, and is seen as an important actor far beyond its borders. Through its institutions and Member States, the EU is active in international trade, humanitarian assistance, economic, financial, and technical and development cooperation, as well as through its common foreign and security policy (CFSP) and common security and defence policy (CSDP). Increasingly, the external dimension of internal EU policies has also grown, notably in the economic, climate, energy, migration and digital fields. The role of the European Parliament in the EU’s external action has increased significantly since the 1990s, and especially after the entry into force of the Treaty of Lisbon (2009). Although Parliament’s powers remain relatively limited compared to other EU institutions involved in external action, especially with regard to CFSP and CSDP decision-making (which remain mostly intergovernmental), it nevertheless has considerable legislative, budgetary, agenda-setting and soft powers. Several of Parliament’s powers cut across all policy areas. Notably, it proactively supports multilateralism and conducts extensive parliamentary diplomacy. Parliament contributes to policy framing through its debates, resolutions, recommendations, own-initiative reports and statements. It holds hearings, workshops, debates and organises missions. Members of the Parliament exercise scrutiny of the executive, by holding hearings of and posing questions to the European Commission, the European External Action Service (EEAS), the EU’s High Representative and the Council. Parliament co-legislates on financing the EU’s external action and controls EU institutions’ expenditure, including the EEAS, through the discharge procedure. The Parliament acts on an equal footing with the Council when adopting numerous acts in the fields of trade, development and humanitarian aid, and often external dimensions of internal policies. Since 2009, Parliament’s consent to legally binding international agreements is mandated by the Treaties.

    MIL OSI Europe News –

    April 1, 2025

  • MIL-OSI Europe: Answer to a written question – Boosting support to farmers in view of the challenges of the new CAP – E-000096/2025(ASW)

    Source: European Parliament

    The Vision for Agriculture and Food presented on 19 February 2025[1] contains an ambitious roadmap and the different work streams towards an agri-food system that is attractive, competitive, future-oriented and fair for current and future generations.

    The Commission is of the opinion that working towards a more environmentally sustainable and competitive sector must and can go hand in hand.

    Going forward to achieve both objectives, the vision envisages a more inclusive approach, with a focus to build trust and dialogue across the entire agri-food system in the EU, to work towards solutions that are tailored to specific contexts in a pragmatic way.

    Working towards a sustainable agri-food sector, the transition must integrate economic, environmental and implementation challenges, as well as the need for a just transition in social terms.

    It must also recognise specificities of farming: on the one hand, agriculture will always have a degree of impact on natural resources, with limitations in terms of mitigation compared to other sectors of the economy. On the other, it needs to cater for the resources it depends on.

    Also, situations across regions and territories differ greatly. This calls for well-tailored and targeted solutions. The future Common Agricultural Policy (CAP) for the period post-2027 will consider all these elements.

    Meanwhile, the Commission continues its efforts to simplify the delivery of the current CAP in view of reducing the administrative burden and providing more flexibility to farmers and national administrations.

    The second simplification package of the current CAP is expected for the second quarter of 2025.

    • [1]  https://agriculture.ec.europa.eu/vision-agriculture-food_en#:~:text=Shaping%20the%20future%20of%20farming%20and%20the%20agri-food,entire%20value%20chain%20within%20the%20EU%20and%20globally

    MIL OSI Europe News –

    April 1, 2025

  • MIL-OSI Europe: Written question – Commission White Paper for European Defence – Readiness 2030 – P-001284/2025

    Source: European Parliament

    Priority question for written answer  P-001284/2025
    to the Commission
    Rule 144
    Siegbert Frank Droese (ESN)

    The Commission White Paper for European Defence – Readiness 2030 addresses the need to strengthen the European defence industry. As the current conflict between Ukraine and Russia shows, modern warfare is also a question of manpower. However, the White Paper primarily focuses on creating a better regulatory and financial environment for the defence industry. Furthermore, it makes reference to nuclear weapons only in connection with the threat posed by China and Russia – not in terms of Europe’s own deterrence needs. There does not therefore seem to be any notion as to how the strategic plan set out in the White Paper is to help Europe counter the threats posed by these devastating systems.

    • 1.Does the Commission consider that joint mobilisation remains the prerogative of NATO, given that the European defence strategy depends on the armed forces of its Member States?
    • 2.EUROMIL – the European Organisation of Military Associations and Trade Unions – has called for the introduction of minimum standards for all European armies. Does the Commission regard that as a necessary step towards establishing a common European defence strategy?
    • 3.Should the lack of a nuclear strategy in the Commission White Paper be construed as meaning that Europe is still dependent on NATO as regards nuclear deterrence?

    Submitted: 27.3.2025

    Last updated: 1 April 2025

    MIL OSI Europe News –

    April 1, 2025

  • MIL-OSI Europe: Written question – Justification and conditionality of financial support to South Africa under the Global Gateway initiative – E-001120/2025

    Source: European Parliament

    Question for written answer  E-001120/2025
    to the Commission
    Rule 144
    Milan Zver (PPE)

    The Commission has announced that it will invest EUR 4.7 billion in South Africa under the Global Gateway initiative to support sustainable projects and the development agenda.

    Recent reports point to increasing violence against white farmers in the country, and Amnesty International has reported various human rights violations and high levels of crime and economic inequality. South Africa also faces challenges of corruption and inefficiencies in public services, where international funds are often used in a way that is not transparent.

    • 1.Before approving this comprehensive package, did the Commission take note of these reports and carry out an in-depth analysis to ensure that EU funds do not support or indirectly finance structures that violate human rights?
    • 2.Is the aid linked to respect for human rights and reporting of violence against white farmers and other groups, and what specific monitoring will the Commission carry out to check how the funds are being used and effectively prevent any misuse or siphoning off of the funds into undemocratic structures?
    • 3.The EU currently needs more resources to defend itself and face up to its economic challenges. In light of these priorities, does the Commission consider that an investment of this amount is justified, especially if there is a risk of serious human rights violations, and what action will the Commission take in the event of any misuse?

    Submitted: 17.3.2025

    Last updated: 1 April 2025

    MIL OSI Europe News –

    April 1, 2025

  • MIL-OSI United Kingdom: 1,000 British jobs supported by deal to bolster fleet of sub-hunting helicopters

    Source: United Kingdom – Government Statements

    Press release

    1,000 British jobs supported by deal to bolster fleet of sub-hunting helicopters

    The Royal Navy’s submarine-hunting Merlin helicopters will receive world-class maintenance under a £165 million contract extension, supporting 1,000 skilled UK jobs.

    Merlin Mk4 helicopter

    • £165 million contract with Leonardo to secure upkeep of the Royal Navy’s fleet of 54 Merlin helicopters.
    • Contract supports 1,000 UK jobs with 200 in Somerset and 800 across wider UK supply chain, delivering on the government’s Plan for Change.
    • Merlin helicopters are submarine hunters and capable of intercepting pirates and drug runners, saving the lives of stricken mariners, and delivering stores and people.

    The agreement supports the government’s Plan for Change by bolstering national security and boosting the economy, with the Ministry of Defence ensuring the defence sector is an engine for growth in every nation and region of the UK.

    It will sustain 200 jobs at Leonardo’s helicopters facility in Yeovil, Somerset, and 800 more across the wider UK supply chain, and covers the fleet of 30 Merlin Mk2 maritime patrol helicopters and 24 Merlin Mk4 amphibious and battlefield lift aircraft.

    The deal contributes to the Government’s commitment to secure Britain’s future through the Plan for Change, which is delivering security and renewal by kick-starting economic growth to put more money in working people’s pockets.

    The Mk2 helicopters are submarine hunters and can also carry out search and rescue operations, intercept drug runners and pirates, and support humanitarian relief efforts.

    Armed with Sting-Ray Torpedoes and M3M .50 calibre machine guns, the Mk2 helicopters provide the Royal Navy with anti-submarine and anti-surface support.

    They also use powerful radars high above the Navy’s carrier strike groups for airborne surveillance and control. The Mk4 fleet provides troop transport, casualty evacuation and can carry medium lift loads of up to 3.8 tonnes.

    These versatile aircraft were recently deployed on Operation CLOCKWORK in Norway, which involved the training of Commando Helicopter Force air and ground crew, and will participate in the upcoming Carrier Strike Group (CSG25) deployment.

    Minister for Defence Procurement and Industry, Rt Hon Maria Eagle MP, said:

    Our fleet of world-class Merlin helicopters provide the Royal Navy with a vital advantage over our adversaries, keeping our carrier strike groups safe and enhancing their battle-winning capability.

    This investment demonstrates our unwavering commitment to maintaining cutting-edge defence capabilities that keep us safe, while utilising defence as an engine for economic growth, supporting 1,000 well-paid jobs across the UK.

    As well as jobs based in Somerset, the agreement will support jobs at RNAS Culdrose in Cornwall.

    The UK defence sector underpins our national resilience and is a vital engine for growth, supporting 434,000 jobs across the country. Today’s news follows the announcement of the largest sustained increase in defence spending since the Cold War, as the government will hit 2.5% of GDP spend by April 2027, and has a commitment to hit 3% in the next Parliament.

    Leonardo is the prime contractor for the expert maintenance, with Lockheed Martin and SERCO appointed as key sub-contractors.

    Nigel Colman, Managing Director, Leonardo Helicopters UK, said:

    We’re extremely proud to have provided the UK’s AW101 Merlin fleet from the Home of British Helicopters in Yeovil.

    Working closely with the Ministry of Defence and Royal Navy, we’re keeping the Merlin fleet supported and available, so it’s ready to fly whenever and wherever it’s called upon.

    At the same time, we’re looking towards how Merlin will be supported the in years to come under the Rotary Wing Enterprise (RWE) agreement, which will transform how support will be delivered across the whole UK rotary fleet.

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    Published 1 April 2025

    MIL OSI United Kingdom –

    April 1, 2025

  • MIL-OSI Europe: Germany: NORD/LB and EIB announce EUR 165 Million Partnership to back Renewable Energy investment across Europe

    Source: European Investment Bank

    EIB

    NORD/LB Norddeutsche Landesbank (NORD/LB) and the European Investment Bank (EIB) have today announced a significant partnership aimed at accelerating the transition to clean energy across the European Union.

    The new financing will back new small and medium-sized renewable energy projects throughout Europe.

    Bernhard Kluttig, State Secretary at the Federal Ministry for Economic Affairs and Climate Action, said, “Accelerating investment in renewable energy is not just a crucial step in tackling climate change, it’s also a tremendous opportunity for German and European businesses. This partnership between NORD/LB and the EIB, supporting vital projects like photovoltaics, onshore wind, and battery storage, will strengthen our energy independence and drive innovation and growth in the clean tech sector. Initiatives like these are essential to realizing our climate goals while simultaneously fostering a competitive and sustainable economy.”

    The financing agreement was formally signed at the Hannover Messe by European Investment Bank Vice President Nicola Beer and NORD/LB CEO Jörg Frischholz, in the presence of Bernhard Kluttig State Secretary for Economic Affairs and Climate Action at the Federal Ministry for Economic Affairs and Climate Action.

    Jörg Frischholz, Chief Executive Officer of NORD/LB, said, “As a long-standing partner of the EIB, NORD/LB is pleased to strengthen our partnership to support the green transition and enable our clients to invest in a range of new renewable energy projects. Today’s agreement builds on the success of our cooperation and our shared commitment to support clean energy investment and innovation “.

    Nicola Beer, Vice President of the European Investment Bank, commented, “Backing investment to harness renewable energy across the EU is crucial for delivering the energy transition, improving energy security and as we see here at the Hannover Messe, building on Europe’s clean tech strengths. Together the EIB and NordLB are ensuring that renewable energy can be scaled up across Europe, so that energy prices can come down”.

    Under the initiative, the EIB will provide EUR 125 million and NORD/LB will provide further financing, to strengthen access to finance essential to accelerate deployment of crucial renewable energy infrastructure. The financing will specifically target projects in key areas such as photovoltaic systems, onshore wind farms, and battery storage within European Union countries.

    This builds on the successful deployment of the first part of the initiative over the last year that has supported large-scale wind and solar projects in Germany and France.

    Background information

    About NORD/LB

    The NORD/LB Norddeutsche Landesbank is a leading German commercial bank and part of the S-Finance Group. Its core business areas include corporate clients, special financing in the energy and infrastructure sectors as well as commercial real estate financing via Deutsche Hypo, capital market business, association business with savings banks, and private and commercial clients including private banking. The bank has its headquarters in Hannover, Braunschweig, and Magdeburg, with branches in other German cities and international locations including Luxembourg, London, New York, and Singapore.

    About the EIB

    As the EU’s climate bank, the European Investment Bank (EIB) finances projects in four priority areas: climate and environment, development, innovation and skills, small and medium-sized businesses (SMEs), infrastructure. The EIB works closely with EU institutions to implement the European Green Deal.

    NORD/LB
    Germany: NORD/LB and EIB announce EUR 165 Million Partnership to back Renewable Energy investment across Europe
    ©EIB
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    NORD/LB
    NORD/LB and EIB announce EUR 165 Million Partnership to back Renewable Energy investment across Europe
    ©EIB
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    NORD/LB
    Germany: NORD/LB and EIB announce EUR 165 Million Partnership to back Renewable Energy investment across Europe
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    MIL OSI Europe News –

    April 1, 2025

  • MIL-OSI Europe: Greece: EIB supports student housing and campus upgrades of the University of Crete

    Source: European Investment Bank

    EIB

    • EIB to co-finance with a €95 million loan, the construction and operation of student housing and new academic facilities
    • Campuses in cities of Heraklion and Rethymno will benefit from 2,833 new rooms to accommodate up to 4,846 students
    • EIB also providing technical assistance for energy efficiency, climate adaptation, PPP best practices and project management

    The University of Crete in Greece will benefit from €95 million in European Investment Bank (EIB) financing to help build affordable student housing and upgrade campus facilities as part of a pioneering Public-Private Partnership (PPP) project awarded to the AKTOR Group.

    The EIB financing, which is backed by the InvestEU programme, will co-finance the expansion of the university’s campuses in two locations, Heraklion and Rethymno, with 2,833 rooms and apartments to be built, creating up to 4,846 beds. In total, the project will involve the construction of more than 109,000 square meters of student housing and academic spaces, including a new 800-seat amphitheatre at the Rethymnon campus.

    The new buildings created will also be highly energy efficient, performing better than the Nearly Zero Energy Building (NZEB) in Greece, as well as include climate adaptation measures.  

    “Investing in university infrastructure is not just about building new facilities—it’s about shaping the future of education, fostering innovation, and strengthening the social fabric of our communities,” said EIB Vice-President, Yannis Tsakiris. “Greek universities must have the resources to attract and nurture the next generation of talent, and this project is a crucial step in that direction. At the same time, the shortage of affordable and sustainable student housing is a growing challenge across Europe. With this new financing for the University of Crete, we are not only addressing this urgent need but also delivering on our commitment to support education, sustainability, and economic growth. This investment is a tangible example of how the EIB is turning vision into action, ensuring that students have access to modern, energy-efficient spaces where they can learn, live, and thrive.

    ”We are envisioning, planning, and—through important synergies such as the one with the EIB and AKTOR—implementing a broad and coherent plan for the upgrading of public universities,” said Sofia Zacharaki, Minister of Education, Religious Affairs and Sports.“Ensuring access to quality, free housing for thousands of students, in both new and renovated student residences across the country, is a cornerstone of this plan. Through beneficial public-private partnerships for the Greek state, with a total budget of 700 million euros, we are creating new student residences, increasing the number of available beds to 21,000 from the current 12,457, while also undertaking extensive renovations of existing facilities. It is essential—and this is exactly what is being delivered through the project involving student residences and new academic spaces in Crete—that there is long-term provision and commitment to maintenance and technical management, so that, over time, both taxpayers’ money and the smooth functioning of the public university’s legacy are safeguarded, always for the benefit of Greek families, students, learning, and progress.”

    Unlocking sustainable development via PPP

    The University of Crete procured the project through a 30-year PPP agreement, with the contract awarded to the AKTOR Group of Companies and implemented through its subsidiary Talaia Estia SA. The total long-term financing of €190 million is co-financed equally by the EIB and Piraeus Bank.

    Further to the financial contribution EIB has provided technical assistance focused on three pillars:

    • enhancement of the technical specifications associated with energy efficiency, lifecycle global warming potential calculations, climate change adaptation measures and compliance to the EU Taxonomy technical screening criteria
    • cooperation with the Greek PPP Unit in the ongoing development of the contractual framework in accordance with best practices and the experience gained from similar previous projects
    • provision of best practice tools and capacity building for the University’s PPP contract management team to manage the Partnership Agreement during its 30-year tenor, delivered with InvestEU advisory funding support.

    “Collaboration between public and private sectors and institutional banks, such as the EIB, can improve the daily life of citizens, produce sustainable innovations and solve important problems, supporting social progress,” explained AKTOR Group Chairman and CEO, Alexandros Exarchou. “We undertake this ambitious project with great responsibility as it will be the first of its kind in Greece and we aim to mobilize our resources to deliver state-of-the-art facilities that will stand as an example of high quality, green and modern infrastructure. Our youth is our future, and they deserve the finest environment that will allow them to evolve. At AKTOR Group, our mission is to contribute to progress and prosperity through our actions and investments, and we are committed to a sustainable future and creating value for our shareholders and society.”

    ”We are very proud to co-finance this project as we consider education as a key factor for sustainable development,” added Piraeus Executive General Manager, and Head of CIB, Theodore Tzouros. “Piraeus plays a leading role in supporting infrastructure projects, as part of its strategic commitment to contribute to the economic growth and the prosperity of Greek society. This student housing and academic facilities project at the University of Crete has a strong social impact as it will support the students who need affordable housing and will serve the needs of the local community.”

    Tackling the affordable housing issue with concrete solutions

    The lack of affordable and sustainable housing, especially for students, is a growing challenge across Europe, particularly in regions with strong tourism-driven real estate markets such as Crete. This investment will not only expand student accommodation capacity but will also enhance access to higher education for students from lower-income backgrounds, and strengthen the university’s competitiveness, as well as its academic and social impact.

    The announcement comes after the EIB Group announced at the EIB Forum its action plan to support housing, which includes a new housing one-stop-shop portal to provide advice and finance to support innovation in the construction sector, build affordable homes and invest in energy efficiency and the renovation of housing stock across Europe. The EIB Group is planning investments of around €10 billion over next two years with the aim of delivering 1.5 million new or renovated housing units across Europe.

    Background information  

    EIB 

    The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, high-impact investments outside the European Union, and the capital markets union.  

    The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.  

    All projects financed by the EIB Group are in line with the Paris Climate Agreement, as pledged in our Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.  

    Fostering market integration and mobilising investment, the Group supported a record of over €100 billion in new investment for Europe’s energy security in 2024 and mobilised €110 billion in growth capital for startups, scale-ups and European pioneers. Approximately half of the EIB’s financing within the European Union is directed towards cohesion regions, where per capita income is lower than the EU average.

    High-quality, up-to-date photos of our headquarters for media use are available here.

    Greece: EIB supports student housing and campus upgrades of the University of Crete
    Greece: EIB supports student housing and campus upgrades of the University of Crete
    ©EIB
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    Greece: EIB supports student housing and campus upgrades of the University of Crete
    Greece: EIB supports student housing and campus upgrades of the University of Crete
    ©EIB
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    MIL OSI Europe News –

    April 1, 2025

  • MIL-OSI Europe: Written question – Preparedness for the COVID-19 pandemic – E-001040/2025

    Source: European Parliament

    Question for written answer  E-001040/2025/rev.1
    to the Commission
    Rule 144
    Gerald Hauser (PfE)

    In the official answer to my parliamentary question (11265/J), Austria’s Minister of the Interior, Gerhard Karner (ÖVP), stated that four pandemic simulation and preparation exercises had been run in the USA this millennium (Atlantic Storm, CLADE X, Event 201 and Spars Pandemic 2025-2028)[1]. In October 2019, in partnership with the World Economic Forum and the Bill and Melinda Gates Foundation, the Johns Hopkins Center for Health Security simulated a pandemic with a SARS-related coronavirus (Event 201). Moderna’s CEO, Stéphane Bancel, publicly stated that he informed his staff in 2019 that a pandemic would occur in 2020 and that Moderna would have to produce billions of doses of vaccines[2].

    • 1.As of when did the Commission and its agencies (in particular the EMA and the ECDC) know that a pandemic would occur in 2020?
    • 2.Did the Commission and its agencies participate in the above-mentioned simulation exercises or any other such exercises?
    • 3.In what form (human, financial, material, ideological, etc.) did the Commission provide support for simulation exercises to prepare for a pandemic?

    Submitted: 11.3.2025

    • [1] https://www.parlament.gv.at/gegenstand/XXVII/AB/11010
    • [2] https://www.weforum.org/meetings/world-economic-forum-annual-meeting-2023/sessions/state-of-the-pandemic/
    Last updated: 1 April 2025

    MIL OSI Europe News –

    April 1, 2025

  • MIL-Evening Report: It will take more than an Oscar to stop Israel’s West Bank plans

    “I started filming when we started to end.” With these haunting words, Basel Adra begins No Other Land, the Oscar-winning documentary that depicts life in Masafer Yatta, a collection of Palestinian villages in the southern West Bank that are under complete occupation – military and civil – by Israel.

    For Basel and his community, this land isn’t merely territory — it’s identity, livelihood, their past and future.

    No Other Land vividly captures the intensity of life in rural Palestinian villages and the everyday destruction perpetrated by both Israeli authorities and the nearby settler population: the repeated demolition of Palestinian homes and schools; destruction of water sources such as wells; uprooting of olive trees; and the constant threat of extreme violence.

    While this 95-minute slice of Palestinian life opened the world’s eyes, most are unaware that No Other Land takes place in an area of the West Bank that is ground zero for any viable future Palestinian state.

    Designated as “Area C” under the Oslo Peace Accords, it constitutes 60% of the occupied West Bank and is where the bulk of Israeli settlements and outposts are located. It is a beautiful and resource-rich area upon which a Palestinian state would need to rely for self-sufficiency.

    For decades now, Israel has been using military rule as well as its planning regime to take over huge swathes of Area C, land that is Palestinian — lived and worked on for generations.

    This has been achieved through Israel’s High Planning Council, an institution constituted solely of Israelis who oversee the use of the land through permits — a system that invariably benefits Israelis and subjugates Palestinians, so much so that Israel denies access to Palestinians of 99 percent of the land in Area C including their own agricultural lands and private property.

    ‘This is apartheid’
    Michael Lynk, when he was serving as UN Special Rapporteur on the Situation of Human Rights in the Occupied Palestinian Territories, referred to Israel’s planning system as “de-development” and stated explicitly: “This is apartheid”.

    The International Court of Justice recently affirmed what Palestinians have long known: Israel’s planning policies in the West Bank are not only discriminatory but form part of a broader annexation agenda — a violation of international humanitarian law.

    To these ends, Israel deploys a variety of strategies: Israeli officials will deem certain areas as “state lands”, necessary for military use, or designate them as archaeologically significant, or will grant permission for the expansion of an existing settlement or the establishment of a new one.

    Meanwhile, less than 1 percent of Palestinian permit applications were granted at the best of times, a percentage which has dropped to zero since October 2023.

    As part of the annexation strategy, one of Israel’s goals with respect to Area C is demographic: to move Israelis in and drive Palestinians out — all in violation of international law which prohibits the forced relocation of occupied peoples and the transfer of the occupant’s population to occupied land.

    Regardless, Israel is achieving its goal with impunity: between 2023 and 2025 more than 7,000 Palestinians have been forcibly displaced from their homes in Area C due to Israeli settler violence and access restrictions.

    At least 16 Palestinian communities have been completely emptied, their residents scattered, and their ties to ancestral lands severed.

    Israel’s settler colonialism on steroids
     Under the cover of the international community’s focus on Gaza since October 2023, Israel has accelerated its land grab at an unprecedented pace.

    The government has increased funding for settlements by nearly 150 percent; more than 25,000 new Israeli housing units in settlements have been advanced or approved; and Israel has been carving out new roads through Palestinian lands in the West Bank, severing Palestinians from each other, their lands and other vital resources.

    Israeli authorities have also encouraged the establishment of new Israeli outposts in Area C, housing some of the most radical settlers who have been intensifying serious violence against Palestinians in the area, often with the support of Israeli soldiers.

    None of this is accidental. In December 2022, Israel appointed Bezalel Smotrich, founder of a settler organisation and a settler himself, to oversee civilian affairs in the West Bank.

    Since then, administrative changes have accelerated settlement expansion while tightening restrictions on Palestinians. New checkpoints and barriers throughout Area C have further isolated Palestinian communities, making daily life increasingly impossible.

    Humanitarian organisations and the international community provide much-needed emergency assistance to help Palestinians maintain a foothold, but Palestinians are quickly losing ground.

    As No Other Land hit screens in movie houses across the world, settlers were storming homes in Area C and since the Oscar win there has been a notable uptick in violence. Just this week reports emerged that co-director Hamdan Ballal was himself badly beaten by Israeli settlers and incarcerated overnight by the Israeli army.

    Israel’s annexation of Area C is imminent. To retain it as Palestinian will require both the Palestinian Authority and the international community to shift the paradigm, assert that Area C is Palestinian and take more robust actions to breathe life into this legal fact.

    The road map for doing so was laid by the International Court of Justice who found unequivocally that Israel’s occupation of the West Bank and Gaza is unlawful and must come to an end.

    They specified that the international community has obligations in this regard: they must not directly or indirectly aid Israel in maintaining the occupation and they must cooperate to end it.

    With respect to Area C, this includes tackling Israel’s settlement policy to cease, prevent and reverse settlement construction and expansion; preventing any further settler violence; and ending any engagement with Israel’s discriminatory High Planning Council, which must be dismantled.

    With no time to waste, and despite all the other urgencies in Gaza and the West Bank, if there is to be a Palestinian state, Palestinians in Area C must be provided with full support – political, financial, and legal — by local authorities and the international community, to rebuild their lives and livelihoods.

    After all, Area C is Palestine.

    Leilani Farha is a former UN Special Rapporteur on the right to adequate housing and author of the report Area C is Everything. Republished under Creative Commons.

    Article by AsiaPacificReport.nz

    MIL OSI Analysis – EveningReport.nz –

    April 1, 2025
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