Category: Finance

MIL-OSI Russia: B2B platform KIFA and RDIF agree to develop digital trade between China and Russia

Translation. Region: Russian Federal

Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

Source: People’s Republic of China – State Council News

St. Petersburg, June 18 (Xinhua) — KIFA, a B2B digital trade platform operating in the Eurasian Economic Union (EAEU) and China, and the Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund, have agreed to partner to jointly develop digital trade between China and Russia and further expand trade between the two countries.

The corresponding agreement was signed on Wednesday on the sidelines of the St. Petersburg International Economic Forum (SPIEF).

“In the new reality, high technology is becoming one of the key factors for success, and KIFA is proud of its contribution to the modernization of trade and economic relations between China and Russia. Trusting strategic cooperation with RDIF, in turn, will play one of the key roles in this process. Together we will be able to implement ambitious projects aimed at strengthening economic ties between our countries,” said Sun Tianshu, founder of the KIFA B2B platform and Chairman of the Board of Directors of KIFA PJSC.

“China is the leader in terms of trade turnover with Russia, and a stable system of mutual trade has been built between our countries, including in the field of e-commerce. RDIF is focused on supporting the entry of Russian and Chinese companies into the markets of the two countries, in this regard, the partnership with KIFA is an important stage in the development of digital cross-border trade. Providing entrepreneurs of the two countries with broad opportunities for simple and effective interaction in a digital environment with a transparent process at all stages and gaining access to new large markets will make a significant contribution to the further increase in bilateral trade volumes,” said RDIF CEO Kirill Dmitriev.

As noted, the development of digital trade between China and Russia and its modernization thanks to advanced tools and the use of artificial intelligence make it possible to achieve more transparent, efficient and convenient processes for each entrepreneur. The expansion of the range of goods and the reduction of costs, in turn, stimulate the growth of trade turnover between China and Russia, which is one of the strategic objectives of bilateral relations.

KIFA is a leading innovation platform that modernizes cross-border trade through the application of digital technology and artificial intelligence, and creates a new digital trading world between China and Russia. –0–

MIL OSI Russia News –

June 19, 2025

MIL-OSI Russia: IMF Executive Board Concludes 2025 Article IV Consultation with Mauritius

Source: IMF – News in Russian

June 18, 2025

The Mauritian economy continues to exhibit resilience with growth at 4.7 percent in 2024 and contained inflation. The growth outlook remains favorable, though risks are to the downside.
Mauritius needs to recalibrate the macroeconomic policy mix to rebuild fiscal space. The monetary policy framework needs to be strengthened while continued monitoring of macro-financial risks is essential to maintain financial stability.
Advancing key reforms to foster external competitiveness and private sector-led growth while enhancing climate resilience will reduce external imbalances.

Washington, DC: The Executive Board of the International Monetary Fund (IMF) completed the Article IV Consultation for Mauritius.[1]

Mauritius’ economy remains resilient. Real GDP grew by 4.7 percent in 2024, from 5.0 percent in 2023, driven by services, construction, and tourism. Headline inflation (12-month average) declined to
2.5 percent in March 2025 from 7.0 percent in 2023, helped by easing international food and energy prices and lower fuel excise duties. The external current account deficit widened in 2024 to
6.5 percent of GDP, mostly reflecting higher imports and freight costs. Gross foreign reserves increased to US$8.5 billion by end-2024, covering almost 12 months of imports. Looking ahead, the country needs to address fiscal and structural challenges, notably the high public debt, significant public investment needs, low productivity, and an ageing society.

The outlook for growth is favorable. Real GDP growth is projected to soften to 3.0 percent in 2025 due to weakening external demand, easing tourism activity, and the drought. Over the medium term, growth is expected at around 3.4 percent, reflecting demographic headwinds and labor shortages. Inflation is projected to average 3.6 percent in 2025 and remain within BOM’s target range over the medium term. The external current account deficit is projected to reduce to 4.7 percent of GDP in 2025—reflecting lower oil prices, as exports grow modestly amid the slowdown in global demand—and to increase in 2026 due to subdued exports, but gradually decline thereafter. The primary fiscal deficit (excluding grants) for FY24/25 is projected to worsen by 3.4 ppt of GDP relative to FY23/24, to 6.5 percent of GDP, mostly driven by higher compensation of employees, social benefits, and grants and transfers. The stock of public sector debt is projected at around 88 percent of GDP at end-June 2025, and to gradually decline in the medium term.

Risks to the outlook are on the downside, including from global uncertainty, tariff wars, higher-than-anticipated fuel and food prices, and extreme climate shocks.

Executive Board Assessment^{^[2]}

The economy has recovered solidly from the pandemic and the outlook is favorable, but fiscal and structural challenges remain. The recovery has been driven by services, construction, and tourism. The medium-term outlook is favorable but held back by demographic headwinds and labor shortages. Mauritius is facing fiscal and structural challenges from high public debt, significant public investment needs for climate, low productivity, and an ageing society. Risks to the outlook are on the downside including from high global uncertainty, highlighting the importance of addressing fiscal and external imbalances to increase the resilience of the economy.

Fiscal policy should pursue frontloaded growth-friendly consolidation to shore up fiscal credibility, helping rebuild fiscal space while protecting the most vulnerable. Tax revenue should be increased and current and ESFs’ spending contained while safeguarding critical social spending and growth-enhancing capital spending. Pension system reform remains key to support fiscal sustainability, especially given the ageing of Mauritius’ population. Strengthening public financial management, including by streamlining ESFs, will support fiscal consolidation, transparency, and good governance.

BOM should start to gradually phase out its ownership of MIC and strengthen the implementation of the monetary policy framework by resuming uncapped issuance of 7-Day BOM bills (at the key policy rate). BOM should stand ready to tighten the monetary policy stance should inflationary pressures reemerge. BOM should adopt amendments to the BOM Act, including to ensure fiscal backing, to protect central bank independence. Ministry of Finance and BOM are encouraged to strengthen the commitment on their mutual agreement for BOM independence. Mauritius should continue to rely on exchange rate flexibility and FX purchases when opportunities arise, and in line with the monetary policy framework, to help further build foreign reserves buffers to ensure ability to respond to large external shocks.

Mauritius’ external position at end-2024 is assessed as weaker than the level implied by fundamentals and desirable policies, and structural reforms to foster external competitiveness are needed to reduce external imbalances. Steady progress in strengthening the AML/CFT framework is welcome and should be sustained, including provisions related to non-resident and cross-border activity. Financial sector risks should continue to be closely monitored including of the real estate sector. Ongoing efforts to improve external sector statistics, including measurement of the GBCs sector, should be sustained. Statistical gaps and discrepancies should be addressed to improve the quality and credibility of macroeconomic statistics.

Mauritius should advance structural reforms that boost investment and innovation to secure longer-term private sector-led growth. Priorities include strengthening workers’ skills through better education and narrowing gender gaps as well as advancing climate adaptation efforts to support economic resilience.

Mauritius: Selected Economic Indicators


		2020	2021	2022	2023	2024	2025	2026	2027	2028	2029	2030
						Est.	Proj.	Proj.	Proj.	Proj.	Proj.	Proj.


	(Annual percent change, unless otherwise indicated)
National income, prices and employment
Real GDP		-14.5	3.4	8.7	5.0	4.7	3.0	3.4	3.4	3.4	3.4	3.4
Real GDP per capita		-14.6	3.6	8.9	5.1	4.9	3.2	3.6	3.6	3.6	3.7	3.8
GDP per capita (in U.S. dollars)		9,011	9,087	10,235	11,188	11,883	12,448	13,287	14,183	15,128	16,131	17,190
GDP deflator		2.6	3.2	9.6	6.6	3.8	3.8	3.7	3.7	3.6	3.6	3.6
Consumer prices inflation (period average)		2.5	4.0	10.8	7.0	3.6	3.6	3.6	3.5	3.5	3.5	3.5
Consumer prices inflation (end of period)		2.7	6.8	12.2	3.9	2.9	3.9	3.5	3.5	3.5	3.5	3.5
Unemployment rate (percent)		9.2	9.1	6.8	6.1	5.8	5.9	5.9	5.9	5.9	5.9	5.9

		(Annual percent change)
External sector
Exports of goods and services, f.o.b.		-23.8	5.2	45.7	4.0	3.0	1.7	2.3	7.1	6.2	6.5	7.4
Of which: tourism receipts		-73.8	-23.8	313.1	29.7	6.0	-4.6	5.3	7.7	8.6	8.1	7.7
Imports of goods and services, f.o.b.		-29.1	16.0	32.9	-0.3	6.4	0.7	4.7	5.3	4.9	4.3	5.3
Nominal effective exchange rate (annual average)		-8.0	-8.0	3.6	0.5	-1.4	…	…	…	…	…	…
Real effective exchange rate (annual average)		-7.6	-7.5	6.2	1.7	-0.6	…	…	…	…	…	…
Terms of trade		5.1	-12.0	-5.1	8.3	0.0	2.3	2.0	0.7	0.5	0.5	0.4


Money and credit
Net foreign assets		16.4	18.6	-3.6	-0.3	18.3	1.5	2.7	2.5	2.1	2.2	3.0
Domestic credit		7.9	15.6	13.1	9.7	13.7	7.2	6.5	6.3	6.1	6.0	5.9
Net claims on government		8.8	34.8	24.6	26.1	31.3	13.2	7.7	6.0	5.3	4.5	3.7
Credit to non-government sector		2.7	0.4	-0.6	8.0	8.3	6.0	6.9	7.2	7.1	7.1	7.1
Broad money		17.7	8.6	4.1	7.8	12.9	6.4	7.6	8.5	8.4	8.4	7.9
Income velocity of broad money (M2)		0.8	0.8	0.9	0.9	0.9	0.9	0.9	0.9	0.9	0.9	0.9

		(Percent of GDP, unless otherwise indicated)
Central government finances ¹
Overall borrowing requirement ²		-22.1	-5.5	-4.7	-6.1	-10.4	-5.4	-3.7	-3.4	-2.9	-2.4	-2.0
Primary balance (excluding grants)		-16.5	-4.9	-2.7	-3.1	-6.5	-3.0	-1.3	-0.3	0.1	0.4	0.5
Revenues (incl. grants)		21.6	24.2	24.5	24.0	25.7	27.0	27.3	27.5	27.5	27.5	27.4
Expenditure, excl. net lending		40.4	31.1	29.4	29.7	35.2	32.3	31.2	30.3	29.9	29.4	28.9
Domestic debt of central government		67.5	61.9	57.3	58.7	64.4	65.8	65.7	65.3	64.5	64.0	63.7
External debt of central government		15.8	14.0	13.8	12.7	14.8	14.9	14.8	14.7	14.6	14.3	13.9

Investment and saving ⁴
Gross domestic investment		18.2	19.8	19.8	20.2	21.0	22.0	22.4	22.5	22.5	22.5	22.5
Public		4.1	4.1	3.9	3.9	3.8	4.1	4.2	4.3	4.3	4.3	4.3
Private ³		14.1	15.7	15.8	16.3	17.2	17.9	18.2	18.2	18.2	18.2	18.2
Gross national savings		11.6	12.6	17.1	22.4	23.4	23.8	25.0	26.1	26.5	26.2	26.4
Public		-7.9	-5.6	-2.0	-2.4	-4.5	-4.0	-1.7	-0.7	-0.1	0.4	0.8
Private		19.5	18.2	19.2	24.8	28.0	27.8	26.7	26.8	26.6	25.9	25.6
External sector
Balance of goods and services		-10.7	-16.1	-14.8	-11.7	-13.2	-12.3	-13.0	-12.2	-11.6	-10.5	-9.6
Exports of goods and services, f.o.b.		35.1	36.7	47.6	45.3	43.9	42.7	41.0	41.2	41.1	41.2	41.7
Imports of goods and services, f.o.b.		-45.8	-52.7	-62.4	-56.9	-57.2	-55.0	-54.0	-53.4	-52.7	-51.7	-51.2
Current account balance		-8.9	-13.1	-11.1	-5.1	-6.5	-4.7	-6.1	-5.0	-4.3	-3.7	-3.0
Capital and financial account		3.3	23.3	13.4	-0.9	14.5	6.1	9.1	6.7	5.9	5.2	4.6
Overall balance		-4.4	10.2	2.8	-5.5	7.3	1.4	2.9	1.8	1.6	1.5	1.6
Total external debt		110.7	134.0	132.2	131.6	139.2	128.9	119.3	110.8	102.2	94.1	87.1
Gross international reserves (millions of U.S. dollars)		7,242	7,805	7,740	7,254	8,510	8,675	9,163	9,475	9,781	10,083	10,420
Months of imports of goods and services, f.o.b.		14.3	11.6	11.6	10.2	11.8	11.6	11.6	11.4	11.3	11.2	11.1

Memorandum items:
GDP at current market prices (billions of Mauritian rupees)		448.9	478.8	570.3	638.3	694.0	742.3	796.0	853.3	914.0	979.0	1,048.7
GDP at current market prices (millions of U.S. dollars)		11,408	11,484	12,908	14,101	14,953	15,641	16,662	17,748	18,890	20,082	21,326
Public sector debt, fiscal year (percent of GDP)⁴		91.9	86.1	81.8	81.5	88.3	89.1	88.1	86.9	85.3	83.9	82.7

Foreign and local currency long-term debt rating (Moody’s)		Baa1	Baa2	Baa3	Baa3	Baa3	Baa3	…	…	…	…	…


Sources: Country authorities; and IMF staff estimates and projections.
¹GFSM 2001 concept of net lending/net borrowing, includes special and other extrabudgetary funds. Fiscal data reported for fiscal years (e.g, 2019=2019/20).
² Following the GFSM 2014, Sections 5.111.5.116, the transfers from the BOM to the Central Government are considered as financing.
³ Excludes changes in inventories in 2022 and outer years.
⁴ The public debt series has been reclassified starting in the 2024 AIV Mission to allow consolidation of central government securities held by non-financial public corporations

[1] Under Article IV of the IMF’s Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. A staff team visits the country, collects economic and financial information, and discusses with officials the country’s economic developments and policies. On return to headquarters, the staff prepares a report, which forms the basis for discussion by the Executive Board.

[2] The Executive Board takes decisions under its lapse-of-time procedure when the Board agrees that a proposal can be considered without convening formal discussions.

IMF Communications Department

MEDIA RELATIONS

PRESS OFFICER: Kwabena Akuamoah-Boateng

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

https://www.imf.org/en/News/Articles/2025/06/18/pr-25204-mauritius-imf-concludes-2025-article-iv-consultation

MIL OSI

MIL OSI Russia News –

June 19, 2025

MIL-OSI USA: Virginia Man Sentenced for Attempted Church Shooting

Source: US State of North Dakota

A Virginia man was sentenced today in Alexandia for his attempt to carry out a mass shooting at a Haymarket, Virginia church, for carrying a gun during that attempt, and for transmitting threats over the internet. Rui Jiang, 36, of Fairfax, Virginia, was sentenced to 25 years in prison and five years of supervised release. Jiang was previously convicted by a jury in March 2025.

According to evidence presented at trial, Jiang began posting online threats against the Park Valley Church on the evening of Sept. 23, 2023, which made clear his intention to kill congregants. The next morning, police searched for Jiang in response to a concerned citizen’s call. Officers located Jiang at the church while Sunday services were underway. Jiang was armed with a semiautomatic handgun, two magazines of ammunition, and two knives. He had additional ammunition, knives, and a canister of bear spray in his nearby car. During a search of Jiang’s apartment, police discovered copies of a manifesto, signed by Jiang, which read in part, “I am here deny (sic) the love lives blessed by God to these lucky men, by taking out these men . . .To the families of those men about to be slain – I am sorry for what I have done and about to do (sic).”

“This was the closest of calls. But for the determination of a concerned citizen; the exceptional police work by the Anne Arundel, Fairfax, and Prince William County Police Departments; and the steadfast vigilance of the church security team, this would have ended in unimaginable tragedy,” said Assistant Attorney General Harmeet K. Dhillon of the Justice Department’s Civil Rights Division. “The Justice Department will relentlessly investigate and prosecute attacks on our nation’s houses of worship.”

“The freedom to worship without fear is one of the bedrock principles of our Nation,” said U.S. Attorney Erik S. Siebert for the Eastern District of Virginia. “Rui Jiang set out to violate that principle by entering a church during a religious service armed with the intent to murder innocent parishioners. This unspeakable act, only thwarted by brave law enforcement officers and civilians, has no place in our Republic and will always be a priority of my office.”

“The church shooting that was thwarted because of the vigilance of concerned citizens is a reminder that when communities and law enforcement agencies work together, we can prevent targeted acts of violence.” said Assistant Director in Charge Steven J. Jensen of the FBI Washington Field Office.

The Federal Bureau of Investigation investigated the case, with substantial assistance from the Prince William County and Fairfax County Police Departments. The Anne Arundel County Police Department also assisted. Assistant U.S. Attorneys Nicholas A. Durham and Troy A. Edwards Jr., for the Eastern District of Virginia and Trial Attorney Kyle Boynton of the Criminal Section of the Civil Rights Division prosecuted the case.

MIL OSI USA News –

June 19, 2025
MIL-OSI USA: Eastside Rollin’ 20s Crips Members and Associates Indicted, Including Murder, Robbery, Fentanyl Distribution and Firearms Offenses

Source: US State of North Dakota

A twelve-count indictment was unsealed today in the Eastern District of Virginia charging nine members of the Eastside Rollin’ 20s Crips (RTC) violent street gang with crimes including a drug conspiracy, murder in aid of racketeering, firearms offenses, and a racketeering conspiracy involving murder, attempted murder, armed robbery, conspiring to distribute large quantities of pressed fentanyl pills, narcotics trafficking, identity fraud, and the illegal use and straw purchasing of firearms.

According to the indictment, the RTC is a subunit or “set” of the Crips national street gang. The indictment alleges RTC members and associates committed numerous violent acts on behalf of the RTC, including a June 2022 murder in Alexandria, Virginia; a July 2021 attempted shooting of several individuals in the District of Columbia; an August 2021 armed robbery and pistol whipping of an individual in Hollywood, Florida; and a January 2021 attempted murder of two individuals in Winston-Salem, North Carolina. To finance and promote the RTC’s criminal activities, the indictment alleges that RTC members and associates obtained and distributed multi-kilogram quantities of pressed fentanyl pills. The indictment also alleges that, as part of the gang’s criminal activity, the RTC recruited children and encouraged them to commit crimes on behalf of the gang, including acts of violence and drug trafficking.

“As alleged, RTC members unleashed a wave of violence across three states and the District of Columbia, extending down the East Coast to Florida,” said Matthew R. Galeotti, Head of the Justice Department’s Criminal Division. “Their commission of brutal, indiscriminate acts over perceived slights on social media reflects a particularly dangerous form of gang activity. The Criminal Division remains firmly committed to prosecuting menacing gangs and ensuring the safety of our communities.”

“The offenses alleged in this indictment represent the spectrum of danger presented by nationwide criminal enterprises,” said U.S. Attorney Erik S. Siebert for the Eastern District of Virginia. “Any of these elements alone – from violence to illegal drugs to identity theft – is enough to destroy communities and lives, and these organizations employ them without compunction. Through coordination with our federal, state, and local law enforcement partners, we are determined to eradicate criminal gangs and protect our citizens from the detriment they bring.”

“DEA is committed to protecting Americans by investigating and taking down major violators of drug laws who operate within the United States and around the world,” said Special Agent in Charge Ibrar Mian of the DEA Washington Field Division. “As demonstrated by today’s indictment, drug trafficking, firearms, and violence are undeniably connected, which is why we continue to address these threats with the full force of the federal government. The tenacious and hard-working men and women of DEA are combatting the illicit manufacture and distribution of drugs, removing illicit firearms from American streets, helping to put public threats in jail, and restoring safety in our communities.”

“Today’s announcement indicates a significant step towards making it even more clear that the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) along with our partner agencies are committed to protecting our communities from violent crime,” said Special Agent in Charge Anthony Spotswood of the ATF Washington Field Division. “There just isn’t a place for criminal behavior in our neighborhoods. Although this is very early on in the judicial process, we remain optimistic that all of those involved will be held accountable for their actions.”

If convicted, the defendants face penalties including: up to life in prison or the death penalty for murder in aid of racketeering and use of a firearm during a crime of violence causing death; up to life in prison for racketeering conspiracy, conspiracy to distribute 400 grams or more of fentanyl, possession of a firearm in furtherance of drug trafficking, and use of a firearm during or in relation to drug trafficking; up to 25 years in prison for straw purchasing of firearms; up to 20 years in prison for possession with intent to distribute fentanyl; and up to 10 years in prison for conspiracy to commit murder in aid of racketeering. Actual sentences for federal crimes are typically less than the maximum penalties. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

The Drug Enforcement Administration; Bureau of Alcohol, Tobacco, Firearms and Explosives; Virginia State Police; and Arlington County Police Department are investigating the case with the assistance of the U.S. Attorney’s Office for the Western District of Pennsylvania; U.S. Attorney’s Office for the District of Columbia; United States Postal Inspection Service; FBI; Immigration and Customs Enforcement Homeland Security Investigations (ICE-HSI); U.S. Customs and Border Protection; Fairfax County Police Department; Prince William County Police Department; Prince William County’s Office of the Commonwealth’s Attorney; Prince William County Parks and Recreation; United States Attorney’s Office for the Eastern District of North Carolina; Loudoun County Sheriff’s Office; Shenandoah County Sheriff’s Office; Stafford County Sherriff’s Office; Manassas Park Police Department; George Mason University Police Department; Chesterfield County Police Department; Del City, OK, Police Department; Valley Brook, OK, Police Department; Tonto Apache Police Department; Sumter County, SC, Sheriff’s Office; Hollywood, FL, Police Department; Nash County, NC, Sheriff’s Office; Winston-Salem, NC, Police Department; and Nebraska State Patrol.

Trial Attorney César S. Rivera-Giraud of the Criminal Division’s Violent Crime and Racketeering Section and Assistant U.S. Attorneys Edgardo J. Rodriguez and Ryan B. Bredemeier for the Eastern District of Virginia are prosecuting the case.

This case is part of Operation Take Back America, a nationwide initiative that marshals the full resources of the Department of Justice to repel the invasion of illegal immigration, achieve the total elimination of cartels and transnational criminal organizations, and protect our communities from the perpetrators of violent crime. Operation Take Back America streamlines efforts and resources from the Department’s Project Safe Neighborhood and Organized Crime Drug Enforcement Task Forces (OCDETFs), which identify, disrupt, and dismantle the highest-level criminal organizations that threaten the United States, using a prosecutor-led, intelligence-driven, multi-agency approach. Additional information about the OCDETF Program can be found at www.justice.gov/OCDETF.

An indictment is merely an accusation. Defendants are presumed innocent until proven guilty.

MIL OSI USA News –

June 19, 2025
MIL-OSI: Condor Provides an Operations Update

Source: GlobeNewswire (MIL-OSI)

CALGARY, Alberta, June 18, 2025 (GLOBE NEWSWIRE) — Condor Energies Inc. (“Condor” or the “Company”) (TSX: CDR), a Canadian based, internationally focused energy transition company with active operations in Central Asia is pleased to provide an update.

UZBEKISTAN

Production for June has averaged 11,350 boepd to date which is slightly above the first quarter of 2025 average of 11,179 boepd. Production rates in the second quarter of 2025 have been partially restricted due to unplanned downstream infrastructure maintenance at non-Company operated facilities and recent workovers that were focused on data gathering to enhance geologic and reservoir modeling for the upcoming drilling campaign. The resulting second quarter production to-date is 10,332 boepd. Well workover activities have since returned to production-add opportunities and the downstream facilities are fully operational.

A drilling rig is scheduled to mobilize in July 2025 and begin a multi-well drilling campaign that will target numerous play types within a diverse prospect inventory. A combination of vertical, horizontal and Uzbekistan’s first multi-lateral wells will penetrate under-developed reservoirs in the existing fields. In addition to penetrating the currently producing Jurassic Carbonates, the first well will be a vertical well drilled to the basement rocks to evaluate the deeper under-explored Jurassic Clastics and the potential for a fractured basement play type. The second well is intended to be a horizontal well with up to a 1500-meter lateral section. Wells are planned to be completed with modern stimulation techniques to further increase production rates.

The Company has also installed and commissioned four in-field flowline water separation systems to remove produced fluids at the field gathering network rather than at the production facilities. This reduces flowline pressure that can lead to higher reservoir flow rates. A fifth in-field flowline unit is being installed and expected to be commissioned in early July 2025. Engineering design work is also ongoing for field compression that could further boost production rates.

KAZAKHSTAN

As previously disclosed, the Company has purchased its first modular LNG facility (the “First Facility”) which is capable of producing 48,000 gallons (80 MT) of LNG per day. Fabrication of the First Facility is on track to be completed in the fourth quarter of 2025 and begin LNG production in the second quarter of 2026. The LNG off-taker agreement is expected to be executed shortly.

ABOUT CONDOR ENERGIES INC

Condor Energies Inc is a TSX-listed energy transition company that is uniquely positioned on the doorstep of European and Asian markets with three distinct first-mover energy security initiatives: increasing natural gas and condensate production from its existing fields in Uzbekistan; an ongoing project to construct and operate Central Asia’s first LNG ‘lower carbon fuel’ diesel substitution facility in Kazakhstan; and a separate initiative to develop and produce critical minerals from brines in Kazakhstan. Condor has already built a strong foundation for reserves, production and cashflow growth while also striving to minimize its environmental footprint.

FORWARD-LOOKING STATEMENTS

Certain statements in this news release constitute forward-looking statements under applicable securities legislation. Such statements are generally identifiable by the terminology used, such as “anticipate”, “appear”, “believe”, “intend”, “expect”, “plan”, “estimate”, “budget”, “outlook”, “scheduled”, “may”, “will”, “should”, “could”, “would”, “in the process of” or other similar wording. Forward-looking information in this news release includes, but is not limited to, information concerning: the timing and ability of well workovers to increase production; the timing and ability to mobilize the drilling rig; the timing and ability to execute a multi-well drilling campaign and the timing and ability to target multiple play types; the timing and ability to evaluate the deeper Jurassic Clastic zones; the timing and ability to penetrate basement rocks and the timing and ability of the basement rocks to be a fractured prospective basement play type; the timing and ability to implement modern stimulation techniques to increase production rates; the timing and ability of the in-field flowline separators to reduce pressure and lead to higher flow rates; the timing and ability to commission the fifth in-field flowline separator; the timing and ability of field compression to boost production rates; the timing and ability of the First Facility to produce 48,000 gallons (80 MT) of LNG per day; the timing and ability to complete fabrication of the First Facility and begin LNG production; the timing and ability to execute an LNG off-taker agreement; and the timing and ability to fund the various planned activities.

ABBREVIATIONS

The following is a summary of abbreviations used in this news release:

boepd Barrels of oil equivalent per day*

LNG Liquefied Natural Gas

MT Metric tonnes

* Barrels of oil equivalent (“boe”) are derived by converting gas to oil in the ratio of six thousand standard cubic feet (“Mscf”) of gas to one barrel of oil based on an energy conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Given the value ratio based on the current price of crude oil as compared to natural gas is significantly different from the energy equivalency of 6 Mscf to 1 barrel, utilizing a conversion ratio at 6 Mscf to 1 barrel may be misleading as an indication of value, particularly if used in isolation.

The TSX does not accept responsibility for the adequacy or accuracy of this news release.

For further information, please contact Don Streu, President and CEO or Sandy Quilty, Vice President of Finance and CFO at 403-201-9694.

The MIL Network –

June 19, 2025
MIL-OSI USA: Energy Secretary Wright Testifies Before Senate Energy and Natural Resources Committee on FY2026 Budget Request

Source: US Department of Energy

WASHINGTON— U.S. Secretary of Energy Chris Wright testified today before the U.S. Senate Committee on Energy and Natural Resources on the Department of Energy’s Fiscal Year 2026 budget request.

Earlier this month, Secretary Wright testified before the U.S. House Energy Subcommittee to outline the department’s FY2026 request. He also appeared last month before both the U.S. Senate and U.S. House Appropriations Subcommittees on Energy and Water Development to outline department priorities and provide a comprehensive overview of the budget.

The FY2026 Budget delivers on President Trump’s directive to restore American energy dominance, unleash every American energy advantage, and bring commonsense back to Washington. It returns non-defense discretionary spending to the most disciplined levels since 2017 and redirects over $15 billion away from the Green New Scam— a reckless Biden-era agenda that drives up costs, weakens reliability, and undermines U.S. energy strength. The department remains committed to being responsible stewards of American taxpayer dollars while protecting the affordable, abundant, and reliable energy our nation depends on. For more details, view the budget toplines here.

Secretary Wright’s opening remarks:

Thank you, Chairman Lee, Ranking Member Heinrich, and Members of the Committee, it is an honor to appear before you today as Secretary of Energy to discuss the President’s Fiscal Year 2026 Budget request for the Department of Energy.

Under President Trump’s leadership, our priorities for the Department are clear—to achieve American energy dominance, bolster our national security, meet our Cold War legacy cleanup commitments and unleash historic innovation, including AI, for our nation and world.

We are driven by a bedrock conviction that an affordable, reliable, secure energy supply is the foundation of a strong and prosperous nation. When America leads in energy, we lead in prosperity, security and human flourishing.

We are committed to advancing our critical missions while cutting red tape, increasing efficiency, and ensuring we are better stewards of taxpayer dollars.

The President’s FY26 budget will ensure taxpayer resources are allocated appropriately and cost-effectively. We will invest DOE’s resources in technologies and sources that support affordable, reliable, and secure energy and provide a return on investment for the American taxpayers. DOE has several tools at its disposal that can advance these emerging energy technologies, and I thank the committee for their leadership in establishing a new “Energy Dominance Financing Program” for DOE’s Loan Program Office as part of the One Big Beautiful Bill. This will enable DOE to return to its core mission of supporting projects that are most critical to America’s energy security while maintaining responsible stewardship of taxpayer dollars—something DOE failed to do in the previous administration.

It is deeply concerning how many billions of dollars were rushed out the door without proper due diligence in the final days of the Biden administration. DOE is undertaking a thorough review of financial assistance that identifies waste of taxpayer dollars, protects America’s national security and advances President Trump’s commitment to unleash American energy dominance. As a result, we recently announced the termination of 24 projects totaling over $3.7 billion in taxpayer-funded financial assistance. These projects failed to meet the economic, national security or energy security standards necessary to sustain DOE’s investment, and the taxpayers should not be forced to subsidize them.

Instead, we are advancing a policy of energy addition—fully leveraging affordable, reliable and secure resources that have powered our country for generations. The United States is blessed with an abundance of coal, oil, and natural gas, and our Administration is committed to using them to meet growing energy needs of the American people.

Every one of these resources was unleashed through the world-changing power of American innovation. Our National Labs are the engine that drives research and development to expand our energy dominance. We will prioritize research that supports true technological breakthroughs and maintains America’s global competitiveness.

America must play a leading role commercialization of reliable, safe and secure nuclear energy, and we are taking steps to accelerate innovation in this sector. DOE is working to advance the rapid deployment of next-generation nuclear technology, including small modular reactors.

I am proud to report that we have officially ended the previous administration’s reckless pause on LNG export permits and have returned to regular order for reviewing and approving new permits. DOE will also work to replenish the Strategic Petroleum Reserve—a national asset that protects our security in times of crisis—and I want to thank this committee for prioritizing funding to refill the SPR in the One Big Beautiful Bill.

We are advancing President Trump’s pledge to lower the cost of living and expand choice by rightsizing DOE’s approach to home efficiency standards and regulations. Under the President’s direction, we’ve begun slashing more than 47 regulations as part of the largest deregulatory effort in history. These actions are projected to save the American people approximately $11 billion while restoring consumer freedom and lowering costs.

The responsible stewardship and modernization of the nation’s nuclear weapons systems is paramount for this Administration. DOE is focused on addressing critical upgrades for the U.S. nuclear stockpile and maintaining our engine powerhouses for submarines and aircraft carriers. Both tasks will become even more crucial in the next few years.

Our nuclear innovation as a nation began with the Manhattan Project, and the next Manhattan Project is clearly AI. DOE has a significant role to play in driving AI innovation for scientific discovery and national security. Our agency has world-class high-performance computing capabilities, including four of the world’s top ten supercomputers.

Harnessing our energy potential to power global AI leadership while meeting growing demand will be the challenge of our time. But America doesn’t back down from big challenges or big builds.

As Secretary of Energy, I am honored by the responsibility to help meet the American people’s growing energy needs and lead the world in energy development. I appreciated the opportunity to work with many of you on this committee to unlock America’s full energy potential and drive down costs for families with the One Big Beautiful Bill, and I look forward to continuing to work together to achieve President Trump’s energy dominance agenda.

Thank you for the opportunity to testify before the committee today.

MIL OSI USA News –

June 19, 2025
MIL-OSI: First Bank Announces Completion of $35 Million Subordinated Debt Offering

Source: GlobeNewswire (MIL-OSI)

HAMILTON, N.J., June 18, 2025 (GLOBE NEWSWIRE) — First Bank (the “Bank”) (NASDAQ: FRBA) today announced the closing of a $35.0 million private placement of fixed-to-floating rate subordinated notes. The Bank plans to use the proceeds to redeem its outstanding $30.0 million of subordinated notes and for general corporate purposes.

The notes have a maturity date of June 30, 2035, and carry a fixed rate of interest of 7.125% for the first five years. Thereafter, the notes will pay interest at a floating rate, reset quarterly, equal to the then current three-month Secured Overnight Financing Rate (“SOFR”) plus 343 basis points. The notes may be redeemed at the option of the Bank, without penalty, on or after June 30, 2030. The notes have been structured to qualify as Tier 2 capital for regulatory purposes.

President and Chief Executive Officer Patrick L. Ryan discussed the offering: “We are pleased to announce the successful completion of our subordinated debt offering. This new capital will allow us to retire our existing subordinated notes at a lower interest rate and enhance our capital base to support our continued growth without the dilutive impact of issuing additional shares of common stock. Furthermore, the tax-deductible nature of the instrument, combined with low interest rate, makes the overall cost of capital quite attractive.”

Piper Sandler & Co. served as sole placement agent for the private offering. First Bank was advised by Luse Gorman, PC and Piper Sandler & Co. was advised by Silver, Freedman, Taff & Tiernan LLP.

About First Bank
First Bank is a New Jersey state-chartered bank with 27 full-service branches in Cinnaminson, Delanco, Denville, Ewing, Fairfield, Flemington, Hamilton, Lawrence, Monroe, Pennington, Randolph, Somerset, Trenton, Williamstown, Morristown and Summit, New Jersey, Doylestown, Trevose, Warminster, West Chester, Paoli, Malvern, Coventry, Devon, Lionville, Media, Pennsylvania, and Palm Beach, Florida. With $3.88 billion in assets as of March 31, 2025, First Bank offers a traditional range of deposit and loan products to individuals and businesses mainly throughout the New York City to Philadelphia corridor. First Bank’s common stock is listed on the Nasdaq Global Market exchange under the symbol “FRBA”.

This news release contains certain forward-looking statements, either expressed or implied, which are provided to assist the reader in understanding anticipated future financial performance. These statements involve certain risks, uncertainties, estimates and assumptions made by management, which are subject to factors beyond First Bank’s control and could impede its ability to achieve these goals. These factors include those listed under Item 1A-Risk Factors in our Annual Report on Form 10-K for the period ended December 31, 2024 and our Quarterly Report on Form 10-Q for the period ended March 31 2025, many of which are out of our control. If one or more events related to these or other risks or uncertainties materialize, or if First Bank’s underlying assumptions prove to be incorrect, actual results may differ materially from what First Bank anticipates. Accordingly, you should not place undue reliance on any such forward-looking statements.

Contact
Andrew Hibshman, Chief Financial Officer
(609) 643-0058, andrew.hibshman@firstbanknj.com

The MIL Network –

June 19, 2025
MIL-OSI: First Bank Announces Completion of $35 Million Subordinated Debt Offering

Source: GlobeNewswire (MIL-OSI)

HAMILTON, N.J., June 18, 2025 (GLOBE NEWSWIRE) — First Bank (the “Bank”) (NASDAQ: FRBA) today announced the closing of a $35.0 million private placement of fixed-to-floating rate subordinated notes. The Bank plans to use the proceeds to redeem its outstanding $30.0 million of subordinated notes and for general corporate purposes.

The notes have a maturity date of June 30, 2035, and carry a fixed rate of interest of 7.125% for the first five years. Thereafter, the notes will pay interest at a floating rate, reset quarterly, equal to the then current three-month Secured Overnight Financing Rate (“SOFR”) plus 343 basis points. The notes may be redeemed at the option of the Bank, without penalty, on or after June 30, 2030. The notes have been structured to qualify as Tier 2 capital for regulatory purposes.

President and Chief Executive Officer Patrick L. Ryan discussed the offering: “We are pleased to announce the successful completion of our subordinated debt offering. This new capital will allow us to retire our existing subordinated notes at a lower interest rate and enhance our capital base to support our continued growth without the dilutive impact of issuing additional shares of common stock. Furthermore, the tax-deductible nature of the instrument, combined with low interest rate, makes the overall cost of capital quite attractive.”

Piper Sandler & Co. served as sole placement agent for the private offering. First Bank was advised by Luse Gorman, PC and Piper Sandler & Co. was advised by Silver, Freedman, Taff & Tiernan LLP.

About First Bank
First Bank is a New Jersey state-chartered bank with 27 full-service branches in Cinnaminson, Delanco, Denville, Ewing, Fairfield, Flemington, Hamilton, Lawrence, Monroe, Pennington, Randolph, Somerset, Trenton, Williamstown, Morristown and Summit, New Jersey, Doylestown, Trevose, Warminster, West Chester, Paoli, Malvern, Coventry, Devon, Lionville, Media, Pennsylvania, and Palm Beach, Florida. With $3.88 billion in assets as of March 31, 2025, First Bank offers a traditional range of deposit and loan products to individuals and businesses mainly throughout the New York City to Philadelphia corridor. First Bank’s common stock is listed on the Nasdaq Global Market exchange under the symbol “FRBA”.

This news release contains certain forward-looking statements, either expressed or implied, which are provided to assist the reader in understanding anticipated future financial performance. These statements involve certain risks, uncertainties, estimates and assumptions made by management, which are subject to factors beyond First Bank’s control and could impede its ability to achieve these goals. These factors include those listed under Item 1A-Risk Factors in our Annual Report on Form 10-K for the period ended December 31, 2024 and our Quarterly Report on Form 10-Q for the period ended March 31 2025, many of which are out of our control. If one or more events related to these or other risks or uncertainties materialize, or if First Bank’s underlying assumptions prove to be incorrect, actual results may differ materially from what First Bank anticipates. Accordingly, you should not place undue reliance on any such forward-looking statements.

Contact
Andrew Hibshman, Chief Financial Officer
(609) 643-0058, andrew.hibshman@firstbanknj.com

The MIL Network –

June 19, 2025
MIL-OSI: Oportun Releases Investor Presentation Highlighting Strategic Progress

Source: GlobeNewswire (MIL-OSI)

Outlines proactive steps taken by Board and management to drive long-term stockholder value

Urges stockholders to vote “FOR” Oportun’s two nominees – CEO Raul Vazquez and Carlos Minetti – on the GREEN proxy card

SAN CARLOS, Calif., June 18, 2025 (GLOBE NEWSWIRE) — Oportun (Nasdaq: OPRT), a mission-driven financial services company, today released an investor presentation in connection with the Company’s upcoming Annual Meeting of Stockholders, scheduled to be held on July 18, 2025. The presentation and additional important information related to the Annual Meeting are available at VoteForOportun.com.

Oportun’s Board of Directors encourages stockholders to review the Company’s proxy statement carefully and vote “FOR” the Company’s nominees – CEO Raul Vazquez and Carlos Minetti – using the GREEN proxy card or GREEN voting instruction form.

If you have any questions about how to vote your shares, please call the firm assisting us with the solicitation of proxies:

INNISFREE M&A INCORPORATED
Stockholders may call:
(877) 800-5195 (toll-free from the U.S. and Canada) or
+1 (412) 232-3651 (from other countries)

About Oportun

Oportun (Nasdaq: OPRT) is a mission-driven financial services company that puts its members’ financial goals within reach. With intelligent borrowing, savings, and budgeting capabilities, Oportun empowers members with the confidence to build a better financial future. Since inception, Oportun has provided more than $20.3 billion in responsible and affordable credit, saved its members more than $2.4 billion in interest and fees, and helped its members set aside an average of more than $1,800 annually. For more information, visit Oportun.com.

Investor Contact
Dorian Hare
(650) 590-4323
ir@oportun.com

Innisfree M&A Incorporated
Scott Winter / Gabrielle Wolf / Jonathan Kovacs
(212) 750-5833

Media Contact
FGS Global
John Christiansen / Bryan Locke
Oportun@fgsglobal.com

The MIL Network –

June 19, 2025
MIL-OSI: Greystone Housing Impact Investors LP Extends General Line of Credit Facility

Source: GlobeNewswire (MIL-OSI)

OMAHA, Neb., June 18, 2025 (GLOBE NEWSWIRE) — Greystone Housing Impact Investors LP (NYSE: GHI) (the “Partnership”) announced today that on June 12, 2025, it amended its existing $50 million secured revolving Line of Credit facility (“LOC”). The LOC is secured by the Partnership’s joint venture equity investments. BankUnited, N.A. serves as sole arranger and administrative agent.

The amendment extended the maturity date to June 2027, with two additional one-year extension options, increased the maximum allowable seniors housing joint venture equity investments the Partnership can make to 30% of eligible encumbered assets, and increased the Partnership’s maximum allowable limited guaranties of debt associated with its joint venture equity investments.

An affiliate of the Partnership’s general partner provides a deficiency guaranty for the facility. The affiliate does not charge the Partnership a fee for the deficiency guaranty.

“The amendment to our general LOC provides valuable liquidity and enhances our operational flexibility to make additional joint venture equity investments in the seniors housing segment,” said Kenneth C. Rogozinski, Chief Executive Officer of the Partnership.

About Greystone Housing Impact Investors LP

Greystone Housing Impact Investors LP was formed in 1998 under the Delaware Revised Uniform Limited Partnership Act for the primary purpose of acquiring, holding, selling and otherwise dealing with a portfolio of mortgage revenue bonds which have been issued to provide construction and/or permanent financing for affordable multifamily, seniors and student housing properties. The Partnership is pursuing a business strategy of acquiring additional mortgage revenue bonds and other investments on a leveraged basis. The Partnership expects and believes the interest earned on these mortgage revenue bonds is excludable from gross income for federal income tax purposes. The Partnership seeks to achieve its investment growth strategy by investing in additional mortgage revenue bonds and other investments as permitted by its Second Amended and Restated Limited Partnership Agreement, dated December 5, 2022, taking advantage of attractive financing structures available in the securities market, and entering into interest rate risk management instruments. Greystone Housing Impact Investors LP press releases are available at www.ghiinvestors.com.

Safe Harbor Statement

Information contained in this press release contains “forward-looking statements,” which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties include, but are not limited to, risks involving current maturities of our financing arrangements and our ability to renew or refinance such maturities, fluctuations in short-term interest rates, collateral valuations, mortgage revenue bond investment valuations and overall economic and credit market conditions. For a further list and description of such risks, see the reports and other filings made by the Partnership with the Securities and Exchange Commission, including but not limited to, its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. Readers are urged to consider these factors carefully in evaluating the forward-looking statements. The Partnership disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

MEDIA CONTACT:
Karen Marotta
Greystone
212-896-9149
Karen.Marotta@greyco.com

INVESTOR CONTACT:
Andy Grier
Senior Vice President
402-952-1235

The MIL Network –

June 19, 2025
MIL-OSI: John Pucin Appointed to Board of Directors of NSTS Bancorp, Inc. and North Shore Trust and Savings

Source: GlobeNewswire (MIL-OSI)

WAUKEGAN, Ill., June 18, 2025 (GLOBE NEWSWIRE) — NSTS Bancorp, Inc. (the “Company”), the holding company for North Shore Trust and Savings (the “Bank”), announced today that Mr. John S. Pucin has been appointed to the Board of Directors of both the Company and the Bank. Mr. Pucin was appointed to fill the vacancy in the class of directors whose term expires at the Company’s annual stockholder meeting in 2027.

Mr. Pucin currently serves as Senior Vice President and Corporate Counsel for Caine & Weiner Company, Inc. and the managing partner of the Law Office of John S. Pucin, P.C. He graduated from Xavier University with a B.S.B.A./Finance and from the Capital University Law School with a Juris Doctor degree. Mr. Pucin has been a member of the Commercial Law League for over twenty years and is a past chair of the Midwest Region.

“We are excited to have Mr. Pucin join our board. Mr. Pucin’s legal and management experience makes him a valuable resource and a qualified addition to the Company,” said Mr. Stephen G. Lear, Chairman, President and Chief Executive Officer of the Company.

About NSTS Bancorp, Inc. and North Shore Trusts and Savings

NSTS Bancorp Inc. is the holding company of North Shore Trust and Savings. As of March 31, 2025, North Shore Trust and Savings had approximately $282.7 million in assets and operates from its headquarters and main banking office in Waukegan, Illinois, as well as two additional full-service branch offices located in Waukegan and Lindenhurst, Illinois, respectively. For over 100 years, North Shore Trust and Savings has served the local communities where it operates and has deep and longstanding relationships with its businesses and retail customers as well as local municipalities.

Contact:

Stephen G. Lear
Chairman, President and Chief Executive Officer
slear@northshoretrust.com
(847) 336-4430

The MIL Network –

June 19, 2025
MIL-OSI: John Pucin Appointed to Board of Directors of NSTS Bancorp, Inc. and North Shore Trust and Savings

Source: GlobeNewswire (MIL-OSI)

WAUKEGAN, Ill., June 18, 2025 (GLOBE NEWSWIRE) — NSTS Bancorp, Inc. (the “Company”), the holding company for North Shore Trust and Savings (the “Bank”), announced today that Mr. John S. Pucin has been appointed to the Board of Directors of both the Company and the Bank. Mr. Pucin was appointed to fill the vacancy in the class of directors whose term expires at the Company’s annual stockholder meeting in 2027.

Mr. Pucin currently serves as Senior Vice President and Corporate Counsel for Caine & Weiner Company, Inc. and the managing partner of the Law Office of John S. Pucin, P.C. He graduated from Xavier University with a B.S.B.A./Finance and from the Capital University Law School with a Juris Doctor degree. Mr. Pucin has been a member of the Commercial Law League for over twenty years and is a past chair of the Midwest Region.

“We are excited to have Mr. Pucin join our board. Mr. Pucin’s legal and management experience makes him a valuable resource and a qualified addition to the Company,” said Mr. Stephen G. Lear, Chairman, President and Chief Executive Officer of the Company.

About NSTS Bancorp, Inc. and North Shore Trusts and Savings

NSTS Bancorp Inc. is the holding company of North Shore Trust and Savings. As of March 31, 2025, North Shore Trust and Savings had approximately $282.7 million in assets and operates from its headquarters and main banking office in Waukegan, Illinois, as well as two additional full-service branch offices located in Waukegan and Lindenhurst, Illinois, respectively. For over 100 years, North Shore Trust and Savings has served the local communities where it operates and has deep and longstanding relationships with its businesses and retail customers as well as local municipalities.

Contact:

Stephen G. Lear
Chairman, President and Chief Executive Officer
slear@northshoretrust.com
(847) 336-4430

The MIL Network –

June 19, 2025
MIL-OSI: The Herzfeld Caribbean Basin Fund, Inc. Announces Results of Special Meeting of Stockholders; Approval of Conversion of Fund to CLO Equity Strategy
Source: GlobeNewswire (MIL-OSI)

MIAMI BEACH, FLA., June 18, 2025 (GLOBE NEWSWIRE) — The Herzfeld Caribbean Basin Fund, Inc. (NASDAQ: CUBA) (the “Fund”) today announced that the Fund’s Stockholders have approved the Fund’s conversion from its current investment strategy to focus on a “CLO Equity Strategy”. The approval was voted for at a Special Meeting of Stockholders held on June 17, 2025, with approximately 96% of the votes cast in favor of the changes.

With this change, the Fund’s primary investment objective will change to a total return strategy with a secondary objective of generating high current income for stockholders. In accordance with the change in investment objective, the Fund will focus on investing in equity and junior debt tranches of collateralized loan obligations, or “CLOs”. CLOs are portfolios of collateralized loans consisting primarily of below investment grade U.S. senior secured loans with a large number of distinct underlying borrowers across various industry sectors.

The three proposals approved by the Fund’s stockholders at the special meeting were:
- Proposal 1: approval of an amended and restated investment advisory agreement between the Fund and Thomas J. Herzfeld Advisors, Inc. (the “Adviser”) to permit the Adviser to receive a fee based on “managed assets” and an incentive fee.
- Proposal 2: approval to revise the Fund’s investment objective from obtaining “long term capital appreciation” to a primary objective of “maximizing risk adjusted total returns” with a secondary objective of “generating high current income;” and to reclassify the Fund’s investment objective as non-fundamental.
- Proposal 3: approval to amend the fundamental policies of the Fund related to borrowing, the issuance of senior securities, underwriting securities issued by other persons, industry concentration, the purchase or sale of real estate, the purchase or sale of commodities, and making loans to other persons.
The changes approved by the Fund’s Stockholders will go into effect July 1, 2025.

Cecilia Gondor, Chairperson of the Fund’s Board of Directors commented: “This marks an important day in the long history of our Fund and the beginning of what we hope is a bright future for our Fund investors. I want to thank my fellow board members and our Chairman Emeritus, Tom Herzfeld, for the hard work that was undertaken in managing this transition.”

About Thomas J. Herzfeld Advisors, Inc.

Thomas J. Herzfeld Advisors, Inc., founded in 1984, is an SEC registered investment advisor, specializing in investment analysis and account management in closed-end funds.

More information about the advisor can be found at www.herzfeld.com.

Past performance is no guarantee of future performance. An investment in the Fund is subject to certain risks, including market risk. In general, shares of closed-end funds often trade at a discount from their net asset value and at the time of sale may be trading on the exchange at a price which is more or less than the original purchase price or the net asset value. An investor should carefully consider the Fund’s investment objective, risks, charges and expenses. Please read the Fund’s disclosure documents before investing.

Forward-Looking Statements

This press release, and other statements that TJHA or the Fund may make, may contain forward looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to the Fund’s or TJHA’s future financial or business performance, strategies or expectations. Forward-looking statements are typically identified by words or phrases such as “trend,” “potential,” “opportunity,” “pipeline,” “believe,” “comfortable,” “expect,” “anticipate,” “current,” “intention,” “estimate,” “position,” “assume,” “outlook,” “continue,” “remain,” “maintain,” “sustain,” “seek,” “achieve,” and similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,” “may” or similar expressions. TJHA and the Fund caution that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made, and TJHA and the Fund assume no duty to and do not undertake to update forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements and future results could differ materially from historical performance. With respect to the Fund, the following factors, among others, could cause actual events to differ materially from forward-looking statements or historical performance: (1) changes and volatility in political, economic or industry conditions, particularly with respect to Cuba and other Caribbean Basin countries, the interest rate environment, foreign exchange rates or financial and capital markets, which could result in changes in demand for the Fund or in the Fund’s net asset value; (2) the relative and absolute investment performance of the Fund and its investments; (3) the impact of increased competition; (4) the unfavorable resolution of any legal proceedings; (5) the extent and timing of any distributions or share repurchases; (6) the impact, extent and timing of technological changes; (7) the impact of legislative and regulatory actions and reforms, including the Dodd-Frank Wall Street Reform and Consumer Protection Act, and regulatory, supervisory or enforcement actions of government agencies relating to the Fund or TJHA, as applicable; (8) terrorist activities, international hostilities and natural disasters, which may adversely affect the general economy, domestic and local financial and capital markets, specific industries or TJHA or the Fund; (9) TJHA’s and the Fund’s ability to attract and retain highly talented professionals; (10) the impact of TJHA electing to provide support to its products from time to time; (11) the impact of problems at other financial institutions or the failure or negative performance of products at other financial institutions; and (12) the effects of an epidemic, pandemic or public health emergency, including without limitation, COVID-19. Annual and Semi-Annual Reports and other regulatory filings of the Fund with the SEC are accessible on the SEC’s website at www.sec.gov and on TJHA’s website at www.herzfeld.com/cuba, and may discuss these or other factors that affect the Fund. The information contained on TJHA’s website is not a part of this press release.

TJHA has received certain nominations or awards by third-parties as reflected herein. Investors should review the criteria for each nomination or award as reflected on the third-party’s webpage. In addition, the nominations and awards reflect past performance of the nominee or award designee and may not reflect the current performance or status of any such firm or individual and may no longer be applicable. Morningstar award content presented with permission and licensing fee. Contact us for more information on how the ratings are apportioned and for full disclosures regarding third party news and awards.

Contact:
Thomas Morgan
Chief Compliance Officer
The Herzfeld Caribbean Basin Fund, Inc.
1-305-777-1660

The MIL Network –
June 19, 2025
MIL-OSI: The Herzfeld Caribbean Basin Fund, Inc. Announces Results of Special Meeting of Stockholders; Approval of Conversion of Fund to CLO Equity Strategy
Source: GlobeNewswire (MIL-OSI)

MIAMI BEACH, FLA., June 18, 2025 (GLOBE NEWSWIRE) — The Herzfeld Caribbean Basin Fund, Inc. (NASDAQ: CUBA) (the “Fund”) today announced that the Fund’s Stockholders have approved the Fund’s conversion from its current investment strategy to focus on a “CLO Equity Strategy”. The approval was voted for at a Special Meeting of Stockholders held on June 17, 2025, with approximately 96% of the votes cast in favor of the changes.

With this change, the Fund’s primary investment objective will change to a total return strategy with a secondary objective of generating high current income for stockholders. In accordance with the change in investment objective, the Fund will focus on investing in equity and junior debt tranches of collateralized loan obligations, or “CLOs”. CLOs are portfolios of collateralized loans consisting primarily of below investment grade U.S. senior secured loans with a large number of distinct underlying borrowers across various industry sectors.

The three proposals approved by the Fund’s stockholders at the special meeting were:
- Proposal 1: approval of an amended and restated investment advisory agreement between the Fund and Thomas J. Herzfeld Advisors, Inc. (the “Adviser”) to permit the Adviser to receive a fee based on “managed assets” and an incentive fee.
- Proposal 2: approval to revise the Fund’s investment objective from obtaining “long term capital appreciation” to a primary objective of “maximizing risk adjusted total returns” with a secondary objective of “generating high current income;” and to reclassify the Fund’s investment objective as non-fundamental.
- Proposal 3: approval to amend the fundamental policies of the Fund related to borrowing, the issuance of senior securities, underwriting securities issued by other persons, industry concentration, the purchase or sale of real estate, the purchase or sale of commodities, and making loans to other persons.
The changes approved by the Fund’s Stockholders will go into effect July 1, 2025.

Cecilia Gondor, Chairperson of the Fund’s Board of Directors commented: “This marks an important day in the long history of our Fund and the beginning of what we hope is a bright future for our Fund investors. I want to thank my fellow board members and our Chairman Emeritus, Tom Herzfeld, for the hard work that was undertaken in managing this transition.”

About Thomas J. Herzfeld Advisors, Inc.

Thomas J. Herzfeld Advisors, Inc., founded in 1984, is an SEC registered investment advisor, specializing in investment analysis and account management in closed-end funds.

More information about the advisor can be found at www.herzfeld.com.

Past performance is no guarantee of future performance. An investment in the Fund is subject to certain risks, including market risk. In general, shares of closed-end funds often trade at a discount from their net asset value and at the time of sale may be trading on the exchange at a price which is more or less than the original purchase price or the net asset value. An investor should carefully consider the Fund’s investment objective, risks, charges and expenses. Please read the Fund’s disclosure documents before investing.

Forward-Looking Statements

This press release, and other statements that TJHA or the Fund may make, may contain forward looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to the Fund’s or TJHA’s future financial or business performance, strategies or expectations. Forward-looking statements are typically identified by words or phrases such as “trend,” “potential,” “opportunity,” “pipeline,” “believe,” “comfortable,” “expect,” “anticipate,” “current,” “intention,” “estimate,” “position,” “assume,” “outlook,” “continue,” “remain,” “maintain,” “sustain,” “seek,” “achieve,” and similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,” “may” or similar expressions. TJHA and the Fund caution that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made, and TJHA and the Fund assume no duty to and do not undertake to update forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements and future results could differ materially from historical performance. With respect to the Fund, the following factors, among others, could cause actual events to differ materially from forward-looking statements or historical performance: (1) changes and volatility in political, economic or industry conditions, particularly with respect to Cuba and other Caribbean Basin countries, the interest rate environment, foreign exchange rates or financial and capital markets, which could result in changes in demand for the Fund or in the Fund’s net asset value; (2) the relative and absolute investment performance of the Fund and its investments; (3) the impact of increased competition; (4) the unfavorable resolution of any legal proceedings; (5) the extent and timing of any distributions or share repurchases; (6) the impact, extent and timing of technological changes; (7) the impact of legislative and regulatory actions and reforms, including the Dodd-Frank Wall Street Reform and Consumer Protection Act, and regulatory, supervisory or enforcement actions of government agencies relating to the Fund or TJHA, as applicable; (8) terrorist activities, international hostilities and natural disasters, which may adversely affect the general economy, domestic and local financial and capital markets, specific industries or TJHA or the Fund; (9) TJHA’s and the Fund’s ability to attract and retain highly talented professionals; (10) the impact of TJHA electing to provide support to its products from time to time; (11) the impact of problems at other financial institutions or the failure or negative performance of products at other financial institutions; and (12) the effects of an epidemic, pandemic or public health emergency, including without limitation, COVID-19. Annual and Semi-Annual Reports and other regulatory filings of the Fund with the SEC are accessible on the SEC’s website at www.sec.gov and on TJHA’s website at www.herzfeld.com/cuba, and may discuss these or other factors that affect the Fund. The information contained on TJHA’s website is not a part of this press release.

TJHA has received certain nominations or awards by third-parties as reflected herein. Investors should review the criteria for each nomination or award as reflected on the third-party’s webpage. In addition, the nominations and awards reflect past performance of the nominee or award designee and may not reflect the current performance or status of any such firm or individual and may no longer be applicable. Morningstar award content presented with permission and licensing fee. Contact us for more information on how the ratings are apportioned and for full disclosures regarding third party news and awards.

Contact:
Thomas Morgan
Chief Compliance Officer
The Herzfeld Caribbean Basin Fund, Inc.
1-305-777-1660

The MIL Network –
June 19, 2025
MIL-OSI: KDSA Investment Partners Acquires Williams Distributors

Source: GlobeNewswire (MIL-OSI)

SPOKANE, Wash., June 18, 2025 (GLOBE NEWSWIRE) — KDSA Investment Partners (“KDSA”), a food and beverage-focused investment firm, announced today that it has acquired Spokane-based Williams Distributors (“Williams”), the leading direct-store-delivery (“DSD”) distributor of ice cream, frozen pizza and frozen foods in the Northwest. The transaction marks a significant milestone for both companies and a major step forward in KDSA’s strategy to build a rapidly growing and scaled independent DSD platform. The investment was completed in partnership with Greyrock Capital Group.

Founded in 1992 by Roger Williams and led for the past six years by his son, Tony Williams, Williams operates a full-service DSD distribution network across Eastern Washington, Montana, Idaho, Northeast Oregon, and Northern Wyoming. The company services over 2,000 customer locations, including regional grocers, convenience stores, and independent retailers.

“This is a major step forward for KDSA,” said David Knopf, Co-Managing Partner of KDSA and new Chaiman of Williams Distributors. “Williams has built a terrific business grounded in customer service and trust, reliability and strong supplier partnerships. It’s a great fit with our long-term vision, and we’re excited to support the team in this next phase of growth.”

As part of the transition, Tim Valdez, an Operating Partner at KDSA, has been named CEO of Williams. A seasoned DSD executive, Valdez previously served as President of Cold Front Distribution. Tony Williams, who has successfully served the company for over two decades, will remain President through the end of the year and continue as a strategic advisor and brand ambassador.

“I’m incredibly proud of what we’ve built at Williams,” said Tony Williams, former owner and current President. “We’ve spent decades earning trust in our markets by focusing on best-in-class, flawless customer service. KDSA shares that same mindset. With their support and under Tim’s leadership, I’m confident the business will continue to thrive for years to come.”

“Williams is a standout operation with a great team and a loyal customer base,” added Tim Valdez, incoming CEO. “We’re stepping into a very strong position with significant opportunity ahead. Our focus will be on maintaining exceptional service while expanding our reach and capabilities across the region.”

The acquisition underscores KDSA’s commitment to partnering with founder-led and family-owned businesses that combine deep local roots with long-term potential. KDSA plans to support Williams through ongoing infrastructure investments, talent expansion, and targeted organic and inorganic growth across the Northwest and Mountain West.

Greenberg Traurig served as legal counsel to KDSA. Witherspoon Brajcich McPhee served as legal advisor to Williams.

About Williams Distributors
Founded in 1992 by Roger Williams, Williams Distributors is the largest independent, full-service direct-store-delivery (DSD) provider of frozen food products in the Northwest. The company operates across Eastern Washington, Northeast Oregon, Idaho, Montana, and Northern Wyoming, serving more than 2,000 customer locations. Williams is known for its strong customer relationships, reliable service, and exclusive distribution partnerships with leading frozen food brands.

About KDSA Investment Partners
KDSA Investment Partners is a private investment firm focused on acquiring and growing founder-led and family-owned businesses in the food and beverage industry. The firm combines deep operational expertise, sector-specific investing experience, and a network of experienced operators to support long-term, sustainable growth in its portfolio companies. For more information, visit www.kdsapartners.com.

About Greyrock Capital Group
Since 2002, Greyrock has invested subordinated debt and equity in over 85 companies across a broad range of industries in partnership with equity sponsors and management teams. Greyrock currently invests out of its sixth independent fund and has offices in Chicago, IL, Walnut Creek, CA and the New York metro area. For more information, visit www.greyrockcapitalgroup.com

For inquiries, please contact:
David Knopf
Co-Managing Partner, KDSA
dknopf@kdsapartners.com

The MIL Network –

June 19, 2025
MIL-OSI: KDSA Investment Partners Acquires Williams Distributors

Source: GlobeNewswire (MIL-OSI)

SPOKANE, Wash., June 18, 2025 (GLOBE NEWSWIRE) — KDSA Investment Partners (“KDSA”), a food and beverage-focused investment firm, announced today that it has acquired Spokane-based Williams Distributors (“Williams”), the leading direct-store-delivery (“DSD”) distributor of ice cream, frozen pizza and frozen foods in the Northwest. The transaction marks a significant milestone for both companies and a major step forward in KDSA’s strategy to build a rapidly growing and scaled independent DSD platform. The investment was completed in partnership with Greyrock Capital Group.

Founded in 1992 by Roger Williams and led for the past six years by his son, Tony Williams, Williams operates a full-service DSD distribution network across Eastern Washington, Montana, Idaho, Northeast Oregon, and Northern Wyoming. The company services over 2,000 customer locations, including regional grocers, convenience stores, and independent retailers.

“This is a major step forward for KDSA,” said David Knopf, Co-Managing Partner of KDSA and new Chaiman of Williams Distributors. “Williams has built a terrific business grounded in customer service and trust, reliability and strong supplier partnerships. It’s a great fit with our long-term vision, and we’re excited to support the team in this next phase of growth.”

As part of the transition, Tim Valdez, an Operating Partner at KDSA, has been named CEO of Williams. A seasoned DSD executive, Valdez previously served as President of Cold Front Distribution. Tony Williams, who has successfully served the company for over two decades, will remain President through the end of the year and continue as a strategic advisor and brand ambassador.

“I’m incredibly proud of what we’ve built at Williams,” said Tony Williams, former owner and current President. “We’ve spent decades earning trust in our markets by focusing on best-in-class, flawless customer service. KDSA shares that same mindset. With their support and under Tim’s leadership, I’m confident the business will continue to thrive for years to come.”

“Williams is a standout operation with a great team and a loyal customer base,” added Tim Valdez, incoming CEO. “We’re stepping into a very strong position with significant opportunity ahead. Our focus will be on maintaining exceptional service while expanding our reach and capabilities across the region.”

The acquisition underscores KDSA’s commitment to partnering with founder-led and family-owned businesses that combine deep local roots with long-term potential. KDSA plans to support Williams through ongoing infrastructure investments, talent expansion, and targeted organic and inorganic growth across the Northwest and Mountain West.

Greenberg Traurig served as legal counsel to KDSA. Witherspoon Brajcich McPhee served as legal advisor to Williams.

About Williams Distributors
Founded in 1992 by Roger Williams, Williams Distributors is the largest independent, full-service direct-store-delivery (DSD) provider of frozen food products in the Northwest. The company operates across Eastern Washington, Northeast Oregon, Idaho, Montana, and Northern Wyoming, serving more than 2,000 customer locations. Williams is known for its strong customer relationships, reliable service, and exclusive distribution partnerships with leading frozen food brands.

About KDSA Investment Partners
KDSA Investment Partners is a private investment firm focused on acquiring and growing founder-led and family-owned businesses in the food and beverage industry. The firm combines deep operational expertise, sector-specific investing experience, and a network of experienced operators to support long-term, sustainable growth in its portfolio companies. For more information, visit www.kdsapartners.com.

About Greyrock Capital Group
Since 2002, Greyrock has invested subordinated debt and equity in over 85 companies across a broad range of industries in partnership with equity sponsors and management teams. Greyrock currently invests out of its sixth independent fund and has offices in Chicago, IL, Walnut Creek, CA and the New York metro area. For more information, visit www.greyrockcapitalgroup.com

For inquiries, please contact:
David Knopf
Co-Managing Partner, KDSA
dknopf@kdsapartners.com

The MIL Network –

June 19, 2025
MIL-OSI: Red Cat Holdings Announces Closing of $46.75 Million Registered Direct Offering of Common Stock
Source: GlobeNewswire (MIL-OSI)

SAN JUAN, Puerto Rico, June 18, 2025 (GLOBE NEWSWIRE) — Red Cat Holdings, Inc. (Nasdaq: RCAT) (“Red Cat” or “Company”), a drone technology company integrating robotic hardware and software for military, government, and commercial operations, has successfully closed the previously announced registered direct offering with certain institutional investors for the purchase and sale of 6,448,276 shares of common stock resulting in gross proceeds of approximately $46.75 million, before deducting placement agent fees and other offering expenses. The offering closed on June 18, 2025.

The Company intends to use net proceeds from the offering for general corporate and working capital purposes, including but not limited to operating expenditures related to its new unmanned surface vessel division.

“We believe this financing positions Red Cat for significant growth in the drone industry and will accelerate our product development and production for our newly formed Unmanned Surface Vessels (USVs) division for the maritime autonomy market,” said Jeff Thompson, Founder, Chairman and Chief Executive Officer of Red Cat.

Recent Operational Highlights
- Expansion of our manufacturing capacity by moving the Edge 130 production to a new, larger facility that will produce 150 Edge 130s per month and is in process of doubling the Black Widow production capacity, enabling an eventual production of 1,000 per month.
- We have been diligently working to identify top talent and manufacturing capacity for our USV division to meet end market demand for maritime applications.
- Reiterate 2025 annual revenue guidance of $80 to $120 million for calendar year 2025, which consists of:
  - $25 to $65 million in SRR-related Black Widow sales
  - $25 million in Non-SRR Black Widow sales
  - $25 million in Edge 130 sales
  - $5m in Fang FPV sales
Northland Capital Markets acted as the exclusive placement agent and Ladenburg Thalmann served as financial advisor for the transaction.

The offering is being made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-283242), which was declared effective by the Securities and Exchange Commission (the “SEC”) on December 11, 2024. A final prospectus supplement and the accompanying prospectus relating to the registered direct offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov. Additionally, when available, electronic copies of the final prospectus supplement and the accompanying prospectus may be obtained, when available, from Northland Securities, Inc., 150 South Fifth Street, Suite 3300, Minneapolis, MN.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Red Cat Holdings, Inc.

Red Cat (Nasdaq: RCAT) is a drone technology company integrating robotic hardware and software for military, government, and commercial operations. Through two wholly owned subsidiaries, Teal Drones and FlightWave Aerospace, Red Cat has developed a leading-edge Family of Systems. This includes the flagship Black Widow™, a small unmanned ISR system that was awarded the U.S. Army’s Short Range Reconnaissance (SRR) Program of Record contract. The Family of Systems also includes TRICHON™, a fixed wing VTOL for extended endurance and range, and FANG™, the industry’s first line of NDAA compliant FPV drones optimized for military operations with precision strike capabilities. Learn more at www.redcat.red.

Safe Harbor Forward-Looking Statements

This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Such statements include, but are not limited to, statements relating to our intended use of proceeds from the offering, annual revenue guidance, future manufacturing capacities and future market demand. Forward-looking statements are based on Red Cat Holdings, Inc.’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” in the Form 10-KT filed with the Securities and Exchange Commission on March 31, 2025. Forward-looking statements contained in this announcement are made as of this date, and Red Cat Holdings, Inc. undertakes no duty to update such information except as required under applicable law.

Contact:

INVESTORS:
E-mail: Investors@redcat.red

NEWS MEDIA:
Phone: (347) 880-2895
Email: peter@indicatemedia.com

The MIL Network –
June 19, 2025
MIL-OSI: Red Cat Holdings Announces Closing of $46.75 Million Registered Direct Offering of Common Stock
Source: GlobeNewswire (MIL-OSI)

SAN JUAN, Puerto Rico, June 18, 2025 (GLOBE NEWSWIRE) — Red Cat Holdings, Inc. (Nasdaq: RCAT) (“Red Cat” or “Company”), a drone technology company integrating robotic hardware and software for military, government, and commercial operations, has successfully closed the previously announced registered direct offering with certain institutional investors for the purchase and sale of 6,448,276 shares of common stock resulting in gross proceeds of approximately $46.75 million, before deducting placement agent fees and other offering expenses. The offering closed on June 18, 2025.

The Company intends to use net proceeds from the offering for general corporate and working capital purposes, including but not limited to operating expenditures related to its new unmanned surface vessel division.

“We believe this financing positions Red Cat for significant growth in the drone industry and will accelerate our product development and production for our newly formed Unmanned Surface Vessels (USVs) division for the maritime autonomy market,” said Jeff Thompson, Founder, Chairman and Chief Executive Officer of Red Cat.

Recent Operational Highlights
- Expansion of our manufacturing capacity by moving the Edge 130 production to a new, larger facility that will produce 150 Edge 130s per month and is in process of doubling the Black Widow production capacity, enabling an eventual production of 1,000 per month.
- We have been diligently working to identify top talent and manufacturing capacity for our USV division to meet end market demand for maritime applications.
- Reiterate 2025 annual revenue guidance of $80 to $120 million for calendar year 2025, which consists of:
  - $25 to $65 million in SRR-related Black Widow sales
  - $25 million in Non-SRR Black Widow sales
  - $25 million in Edge 130 sales
  - $5m in Fang FPV sales
Northland Capital Markets acted as the exclusive placement agent and Ladenburg Thalmann served as financial advisor for the transaction.

The offering is being made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-283242), which was declared effective by the Securities and Exchange Commission (the “SEC”) on December 11, 2024. A final prospectus supplement and the accompanying prospectus relating to the registered direct offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov. Additionally, when available, electronic copies of the final prospectus supplement and the accompanying prospectus may be obtained, when available, from Northland Securities, Inc., 150 South Fifth Street, Suite 3300, Minneapolis, MN.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Red Cat Holdings, Inc.

Red Cat (Nasdaq: RCAT) is a drone technology company integrating robotic hardware and software for military, government, and commercial operations. Through two wholly owned subsidiaries, Teal Drones and FlightWave Aerospace, Red Cat has developed a leading-edge Family of Systems. This includes the flagship Black Widow™, a small unmanned ISR system that was awarded the U.S. Army’s Short Range Reconnaissance (SRR) Program of Record contract. The Family of Systems also includes TRICHON™, a fixed wing VTOL for extended endurance and range, and FANG™, the industry’s first line of NDAA compliant FPV drones optimized for military operations with precision strike capabilities. Learn more at www.redcat.red.

Safe Harbor Forward-Looking Statements

This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Such statements include, but are not limited to, statements relating to our intended use of proceeds from the offering, annual revenue guidance, future manufacturing capacities and future market demand. Forward-looking statements are based on Red Cat Holdings, Inc.’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” in the Form 10-KT filed with the Securities and Exchange Commission on March 31, 2025. Forward-looking statements contained in this announcement are made as of this date, and Red Cat Holdings, Inc. undertakes no duty to update such information except as required under applicable law.

Contact:

INVESTORS:
E-mail: Investors@redcat.red

NEWS MEDIA:
Phone: (347) 880-2895
Email: peter@indicatemedia.com

The MIL Network –
June 19, 2025
MIL-OSI Canada: Tribunal Initiates Final Injury Inquiry—Polyethylene terephthalate from China and Pakistan

Source: Government of Canada News (2)

Ottawa, Ontario, June 18, 2025—The Canadian International Trade Tribunal today initiated an inquiry to determine whether the dumping of polyethylene terephthalate from China and Pakistan and the subsidizing of the above-mentioned goods from China have caused injury or retardation or are threatening to cause injury. This final injury inquiry was initiated further to a notice received from the Canada Border Services Agency stating that preliminary determinations had been made respecting the dumping and subsidizing of the above-mentioned goods.

On October 15, 2025, the Tribunal will determine whether the dumping and subsidizing have caused injury or retardation or are threatening to cause injury to the domestic industry.

The Tribunal is an independent quasi-judicial body that reports to Parliament through the Minister of Finance. It hears cases on dumped and subsidized imports, safeguard complaints, complaints about federal government procurement and appeals of customs and excise tax rulings. When requested by the federal government, the Tribunal also provides advice on other economic, trade and tariff matters.

Any interested person, association or government that wishes to participate in the Tribunal’s inquiry may do so by filing Form I—Notice of Participation.

MIL OSI Canada News –

June 19, 2025
MIL-OSI Canada: Tribunal Continues Orders—Circular Copper Tube from Brazil, Greece, China, South Korea and Mexico

Source: Government of Canada News (2)

Ottawa, Ontario, June 18, 2025—The Canadian International Trade Tribunal today continued its orders made on September 25, 2019, in expiry review RR‑2018‑005, concerning the dumping of circular copper tube from Brazil, Greece, China, South Korea and Mexico, and the subsidizing of these goods from China.

The Tribunal found that the expiry of the orders was likely to result in injury. As such, the Tribunal continued its orders. The Canada Border Services Agency will therefore continue to impose anti-dumping and countervailing duties on these goods.

The Tribunal is an independent quasi-judicial body that reports to Parliament through the Minister of Finance. It hears cases on dumped and subsidized imports, safeguard complaints, complaints about federal government procurement and appeals of customs and excise tax rulings. When requested by the federal government, the Tribunal also provides advice on other economic, trade and tariff matters.

MIL OSI Canada News –

June 19, 2025
MIL-OSI USA: Former Fort Hood soldiers sentenced to federal prison for alien smuggling as result of ICE El Paso investigation

Source: US Immigration and Customs Enforcement

ALPINE, Texas — A former U.S. Army soldier stationed at Fort Hood was sentenced in a federal court in Pecos, Texas, to 33 months in prison for aiding and abetting the transportation of illegal aliens for financial gain.

U.S. Immigration and Customs Enforcement investigated the case with the assistance from the U.S. Border Patrol, and the Department of the Army Criminal Investigation Division, Central Texas Field Office.

“The sentencing of these individuals underscores the serious consequences of engaging in human smuggling,” said Special Agent in Charge Jason T. Stevens of ICE Homeland Security Investigations El Paso. “Recruiting fellow soldiers to participate in illegal activities, culminating in a reckless high-speed chase with law enforcement, is a blatant betrayal of duty and public trust. HSI alongside our law enforcement partners, remain committed to dismantling smuggling networks and ensuring those responsible face justice.”

According to court documents, Enrique Jauregui, 26, organized a smuggling event in 2024, recruiting fellow soldiers Angel Palma, 21, and Emilio Mendoza-Lopez, 22. Jauregui provided Palma and Mendoza-Lopez with the location information to pick up illegal aliens to smuggle, supported them with encouraging messages and instructions, and intended to pay the two co-conspirators after they dropped off the illegal aliens.

On Nov. 27, 2024, Palma and Mendoza-Lopez drove from Fort Hood (known at the time as Fort Cavazos) to Presidio, Texas, to pick up three illegal aliens before leading Border Patrol agents on a high-speed chase. At one point, the defendants hit a marked Border Patrol vehicle with an agent inside, causing injuries. Palma and Mendoza-Lopez, along with the three illegal aliens, fled the vehicle on foot. All were apprehended except for Palma, who was located at a hotel in Odessa, Texas, and eventually arrested.

All three co-defendants pleaded guilty in early 2025. Palma and Mendoza-Lopez were each sentenced in May to 24 months in federal prison. In addition to their imprisonment, Palma, Mendoza-Lopez, and Jauregui were also sentenced to three years of supervised release. Jauregui was also ordered to pay a $10,000 fine. U.S. District Judge David Counts presided over the hearings.

“These three individuals turned their backs on their values in a way that put our nation at risk, and put at risk the lives of others, including the lives of law enforcement officers,” said U.S. Attorney Justin Simmons for the Western District of Texas. “Everyone in this district, regardless of whether you wear the uniform or not, should take note: if you seek to enrich yourself by moving illegal aliens into or through this country, you will face the consequences of federal prosecution and will likely find yourself in federal prison.”

“This sentencing demonstrates the strong partnership between Army CID, Homeland Security Investigations, and the U.S. Border Patrol,” said Special Agent in Charge Lane Allen of the Department of the Army Criminal Investigation Division’s Central Texas Field Office. “Maintaining the readiness and integrity of our fighting force remains our top priority.”

Assistant U.S. Attorney Kevin Cayton prosecuted the case.

This case is part of Operation Take Back America, a nationwide initiative that marshals the full resources of the Department of Justice to repel the invasion of illegal immigration, achieve the total elimination of cartels and transnational criminal organizations, and protect our communities from the perpetrators of violent crime. Operation Take Back America streamlines efforts and resources from the Department’s Organized Crime Drug Enforcement Task Forces and Project Safe Neighborhood.

MIL OSI USA News –

June 19, 2025
MIL-OSI USA: Durbin: Instead Of Conducting Critical Oversight, Judiciary Committee Republicans Are Holding Partisan Hearing Armchair Diagnosing Former President Biden

US Senate News:

Source: United States Senator for Illinois Dick Durbin

June 18, 2025

WASHINGTON – U.S. Senate Democratic Whip Dick Durbin (D-IL), Ranking Member of the Senate Judiciary Committee, slammed Senate Judiciary Committee Republicans for holding a partisan hearing today where they plan to armchair diagnose former President Biden. In his opening remarks, Durbin called out the lack of oversight the Committee has conducted so far under the Trump Administration, despite the numerous, critical challenges facing the nation that are under the Committee’s jurisdiction.

By this date in Durbin’s first year as Chair, the Committee had already held two major oversight hearings with Biden Administration agency heads, including one with FBI Director Wray on domestic terrorism threats. So far, the Republican majority on this Committee has not held a single oversight hearing.

“This Committee has oversight responsibility over the Department of Justice, the Federal Bureau of Investigation, and the Department of Homeland Security. We have a constitutional duty to hold these agencies accountable with public hearings,” Durbin said. “In the last week alone, several events have demanded this Committee’s immediate attention: the horrific assassination in Minnesota, the treatment of our colleague Senator Padilla by federal agents in Los Angeles, and President Trump’s unprecedented deployment of the U.S. military in Los Angeles.”

Durbin continued, “We should hear without delay from Attorney General Bondi and FBI Director Patel about what they are doing to address the unacceptable political violence in our country, including threats to Article III judges and justices, as well as members of Congress. And we need to hear from Homeland Security Secretary Noem about the treatment of our colleagues, Senator Padilla, and this Administration’s mass deportation campaign against immigrants. But instead of exercising this constitutional oversight duty, my Republican colleagues are holding this hearing. Apparently, armchair diagnosing former President Biden is more important than the current issues of grave concern that I have mentioned.”

Durbin went on to note just a few examples of issues that the Senate Judiciary Committee should be addressing.

“The Trump Administration has removed dozens of senior career prosecutors and FBI officials with decades of national security expertise, leaving our nation more vulnerable to terrorism and other national security threats. This should be explained to this Committee,” Durbin said. “The Justice Department has diverted hundreds of law enforcement agents away from combatting cartels, drug trafficking, and gun violence to participate in President Trump’s mass deportation campaign. This should be addressed in an open hearing of this Committee.”

Durbin continued, “The Justice Department is also turning a blind eye to corruption. The Administration has gutted the Department of Justice’s Public Integrity Section, which oversees political corruption cases, just as the President’s shameful crypto scheme unfolds. And the Administration has removed the Department of Justice’s career ethics officials and shut down the office charged with investigating misconduct by DOJ attorneys.”

Durbin then called out how his Republican colleagues are eager to discuss President Biden’s pardons, but are ignoring the actual pardon crisis of President Trump’s “pay-to-play” scheme. Durbin highlighted the story of Paul Walczak, whom President Trump pardoned after Walczak pleaded guilty in 2024 to withholding more than $7 million of taxes from his employees’ paychecks and failing to pay the IRS.

“What warranted Mr. Walczak’s swift pardon by President Trump? His pardon application explicitly cited millions of dollars his mother raised for President Trump’s campaigns and other efforts to support the President. But that was not enough,” Durbin said. “It was three weeks after Mr. Walczak’s mother attended a $1 million a person Trump fundraiser in April of this year that Mr. Walczak was miraculously receiving his pardon—and now he no longer must pay $4.4 million to the taxpayers of this country. That’s one example of the many pardons granted to President Trump’s wealthy donors and political supporters.”

Durbin continued, “And, of course, these pay-to-play pardons are in addition to the more than 1,500 January 6 rioters who received blanket pardons from President Trump, including 169 who violently assaulted law enforcement officials.”

Durbin concluded, “If my colleagues are truly interested in issues of presidential succession and disability under the 25th Amendment, I would suggest they embark on this constitutional journey with a proposed amendment, not today’s political adventure.”

Video of Durbin’s opening statement is available here.

Audio of Durbin’s opening statement is available here.

Footage of Durbin’s opening statement is available here for TV Stations.

-30-

MIL OSI USA News –

June 19, 2025
MIL-OSI Africa: Gabonese President Brice Oligui Nguema and African Development Bank’s (AfDB) Akinwumi Adesina Inaugurate Water Pumping Station for Greater Libreville
- “Ten years without clean water: erased! Ten years without hope: forgotten! Ten years of suffering: over!”—Adesina to residents of Libreville’s outlying neighborhoods.
- Adesina Receives Gabon’s Highest Civilian Honor
Gabonese President Brice Oligui Nguema and African Development Bank Group President Dr. Akinwumi Adesina (www.AfDB.org) on Monday jointly inaugurated a new drinking water pumping station, marking the end of a decade-long water crisis in PK5, a densely populated district of Libreville.

The new PK5 pumping station, with a daily capacity of 57,600 cubic meters, is designed to deliver clean water to 128,000 residents across seven northern districts of the capital.

“These past few weeks, we’ve finally felt like citizens of real capital. Water is flowing from our taps at last,” said Sandrine Onanga, a 33-year-old mother living in PK5. “It has been eight years since we last saw a drop of water. We had even forgotten what a tap looked like,” added Astrid Momboukou, who joined the crowd to witness the inauguration of the facility.

For years, taps had run dry in parts of Libreville. “That’s all behind us now. No more lugging water jugs for kilometers. No more waiting late into the night for police tankers to deliver water every two or three days,” said Sandrine, smiling under the light rain that fell over Libreville that Monday.

The new station was inaugurated in the presence of senior government officials, members of the diplomatic corps, development partners, and an enthusiastic local population. It forms part of the Integrated Drinking Water Supply and Sanitation Program for Libreville (PAIEPAL). The program, with a total investment of €117.4 million, is financed through a €75.4 million loan from the African Development Bank and a €42 million loan from the Africa Growing Together Fund (AGTF), backed by the People’s Bank of China and administered by the Bank.

The program aims to improve access to potable water and sanitation services in Libreville, strengthen sector governance, and build capacity for long-term transformation.

The initiative ensures that more than 300,000 people—approximately 31% of Libreville’s 967,095 residents—now have sustainable and permanent access to clean water. The beneficiary communes include Libreville, Akanda, Owendo, and Ntoum.

Adesina emphasized the life-changing impact of the new pumping station: “Ten years without drinking water: erased! Ten years without hope: forgotten! Ten years of suffering: ended!”

The Bank, a reliable and strategic partner for Gabon

Adesina also highlighted the Bank’s unwavering development support for Gabon during his ten-year tenure. “From 1974 to 2014, the Bank approved $1 billion in financing for Gabon. Since my election in 2015, we have committed an additional $1.5 billion—1.5 times the previous 40-year total,” he said.

According to Philippe Tonangoye, Gabon’s Minister for Universal Access to Water and Energy, the project has significantly improved water infrastructure. It involved renewing 150 kilometers of pipelines, upgrading and extending another 150 kilometers of distribution networks, building and rehabilitating multiple water towers, and installing around 60 public standpipes across Libreville and surrounding areas.

“The African Development Bank spared no effort to make this program a reality,” said Minister Tonangoye. “Some of these installations had not seen a single drop of water in ten years. My gratitude goes to the Bank for its commitment to Gabon.”

President Adesina receives top Gabonese honor

Ahead of the inauguration, Gabonese President Oligui Nguema conferred on Adesina the insignia of Grand Officer of the Order of the Gabonese Merit, one of Gabon’s highest civilian honors, in a ceremony witnessed by his wife, Grace Adesina.

Recognized for his visionary leadership, Akinwumi Adesina—dubbed “Africa’s Chief Optimist”—will complete his second and final ten-year term as President of the African Development Bank Group on 31 August. Since 2015, he has led transformative projects across Africa under the Bank’s five strategic priorities, the “High 5s” (https://apo-opa.co/4n9ysad).

Through these priorities, 565 million people have seen their lives transformed. In the water sector alone, 63 million people gained access to clean water and 34 million to sanitation services.

Flagship projects in Gabon

For decades, the Bank has supported Gabon’s socioeconomic development by helping diversify strategic sectors. It is now Gabon’s leading infrastructure partner.

Among flagship projects, the Bank financed the New Owendo International Port. With a capacity of four million tonnes per year, this multi-purpose port (minerals, timber, containers) has reduced handling costs by 30% and become a critical link in Gabon’s logistics chain. In this context, the Gabonese President took Dr. Adesina on a tour of the La Baie des Rois Special Investment Zone, located 18 km from the port. The maritime façade of the Gabonese capital aims to be modern to attract international real estate investors to revitalize the country’s economy and create wealth for the population.

The Bank is also helping Gabon develop the Kinguélé Aval hydroelectric power station—the country’s first energy PPP—which will add 40 megawatts of reliable, affordable, and clean energy. It is also financing the Ndende-Doussala road, a key segment of the Libreville-Brazzaville corridor that will connect Gabon and Congo and boost regional integration.

With an active portfolio of $61.26 million, the African Development Bank Group’s strategy in Gabon focuses on two priority areas: supporting the development of sustainable infrastructure to drive industrialization, and strengthening economic governance and the business climate to promote social inclusion.

Following the inauguration, President Oligui Nguema and Akinwumi Adesina visited two families in separate districts that were once severely impacted by water shortages. They also toured the National School for Hearing-Impaired Children, which serves hundreds of students. Since gaining access to clean drinking water, the school has seen a significant improvement in hygiene conditions.

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

Contact:
Romaric Ollo Hien
Communication and External Relations Department
media@afdb.org

About the African Development Bank Group:
The African Development Bank Group (AfDB) is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 44 African countries with an external office in Japan, the AfDB contributes to the economic development and the social progress of its 54 regional member states.

For more information: www.AfDB.org

MIL OSI Africa –
June 19, 2025
MIL-OSI USA: Ahead of Juneteenth, Momentum Grows for H.R. 40, Pressley’s Historic Reparations Legislation

Source: United States House of Representatives – Congresswoman Ayanna Pressley (MA-07)

Bill Would Form Commission to Develop Reparations Proposals for African American Descendants of Enslaved People

Legislation Now Has Support of Over 100 National and Grassroots Organizations

H.R. 40 Press Conference | H.R. 40 Bill Text | H.R. 40 Briefing Photos | H.R. 40 Briefing One-Pager

WASHINGTON – Today, ahead of the Juneteenth holiday and a national celebration of Black joy and emancipation, Congresswoman Ayanna Pressley (MA-07) affirmed the strength of the reparations movement and announced growing support for H.R.40, legislation that she is championing to address the harmful legacy of slavery and establish a federal commission to develop reparations proposals for African American descendants of enslaved people. The legislation now has the support of more than 100 national and grassroots organizations and 85 members of Congress.

In February, during Black History Month, Rep. Pressley and Senator Cory Booker reintroduced H.R. 40, serving as a powerful counterweight to the unprecedented onslaught against diversity, equity, and inclusion (DEI) initiatives from the Trump Administration and a call to action to address the systemic oppression of Black people. Last week, Rep. Pressley hosted a briefing on H.R. 40 to provide congressional staffers and their offices an expanded look into the bill, its 36-year legislative journey – led by Congressman John Conyers and Congresswoman Sheila Jackson Lee – and its vital role in the reparative justice movement.

“The state of our reparations movement is strong and in this moment of heightened anti-Blackness in America, we are more resolved than ever,” said Congresswoman Pressley, lead House sponsor of H.R. 40. “H.R. 40 is racial justice, economic justice, and a moral imperative, and it is deeply necessary to confront America’s damning history of systemic racism head-on. I’m proud of the growing, broad, and intersectional support behind our bill and I am grateful to our grassroots organizations for their partnership in pushing to get this critical legislation over the finish line.”

Support for reparations has grown nationwide, with state and local officials taking action, including in Massachusetts, Illinois, Tennessee, North Carolina and Oklahoma. H.R. 40 now has endorsements from over 100 national and grassroots organizations.

“We are delighted that Congresswoman Ayanna Pressley has picked up the torch from Cong. Sheila Jackson Lee and Cong. John Conyers, Jr. to continue the historic push to achieve long overdue reparations for African Americans.” – National African American Reparations Commission

“At this pivotal moment in the United States’ existence and identity, we proudly stand with Rep. Ayanna Pressley in the reintroduction of H.R. 40, which if enacted will provide concrete ways to implement reparations,” said Dreisen Heath, Why We Can’t Wait Reparations Coalition. “Providing reparations is a routine practice by the federal government from providing remedy in perpetuity to Holocaust survivors to providing free healthcare to 9/11 victims and veterans exposed to toxic waste waters. By embracing what H.R. 40 legislation will produce, we are not only educating the public on the truth but also energizing a strong movement towards reflection and accountability. While states and cities advance their own reparative efforts, the federal government can no longer neglect and obscure its responsibility to do right by Black Americans, and by extension the rest of the country.

“The National Urban League, for over a century, has witnessed firsthand the devastating impact of systemic racism on countless lives. We have championed social and economic justice for Black Americans, striving to overcome the enduring legacy of slavery. For too long, we have avoided a full and honest reckoning with this history. A federal commission to study the vestiges of slavery, from the harrowing experiences of enslaved people to the ongoing struggles of their descendants, is not just overdue, it is essential. This examination is not about dwelling on the past but about better understanding the present. By understanding how the lingering effects of slavery continue to shape our society and policies, we can finally create a level playing field and unlock the full potential of our nation,” said the National Urban League. “The National Urban League fully supports H.R. 40, a bill establishing a commission to study and develop reparations proposals for Black Americans, as it represents a crucial step towards reconciliation and redress. We urge Congress to swiftly pass this vital legislation. The time for inaction is over. The time for justice is now.”

“Eradicating poverty requires understanding its root causes and the economic injustices that plague Black communities today can be directly traced to the legacy of slavery and Jim Crow laws,” said Margaret Huang, President and CEO of the Southern Poverty Law Center. “This commission would be an important step toward grappling with how our country failed to support so many Americans after slavery and segregation ended. We need to take an honest look at the ugly history of racial discrimination that has denied so many Black and Brown families, particularly in the Deep South, economic opportunities to sustain their families.”

“This legislation is not symbolic, it’s structural,” said Ebonie Riley, Senior Vice President of Policy & Strategic Partnerships at the National Action Network. “In a moment where the very language of equity is under assault, this bill confronts the unfinished business of this nation: the deliberate extraction of wealth, labor, and life from Black Americans. Under the leadership of Rev. Al Sharpton, NAN has consistently called for federal action that reflects the scale of harm inflicted. Reparations are a matter of economic policy, legal obligation, and historical accountability.”

“The NAACP has supported the creation and passage of HR. 40/S.40 from its introduction by Congressman John Conyers (MI) through its reintroduction by Congresswoman Sheila Jackson Lee (TX) and Senator Cory Booker (NJ) continue to support the passage of this crucial legislation in the 119th Congress,” – NAACP

“The United Methodist Book of Resolutions and the General Board of Church and Society strongly support HR 40 being reintroduced at a time when truth is under attack,” – United Methodist Church General Board of Church and Society

“Black people have been the backbone to the growth and wealth of this nation and of the global economy, and justly, should be recipients of its fruits. Black people can’t achieve equity without the United States acknowledging the historical past and materially addressing past and present harms. Reparatory justice is a must,” –Network Lobby for Catholic Social Justice

“The Council on American-Islamic Relations strongly supports the reintroduction of H.R. 40, recognizing it as a vital measure to confront America’s legacy of slavery and systemic racism head-on. We stand in solidarity with Congresswoman Pressley, Senator Booker, and their colleagues in calling for truth, accountability, and meaningful reparative actions that honor and protect the dignity of Black American communities,” – Council on American-Islamic Relations (CAIR)

“As a church, we understand that the truth shall set us free. We have committed to and embarked on undertaking the work of truth-telling and reconciliation ourselves. H.R. 40/S. 40 would offer the opportunity for our country to begin a process to understand our own history and would present a path forward for repairing historical harms done to African Americans,” – The Episcopal Church

“It has been nearly 40 years since Japanese Americans received redress for being incarcerated unjustly during WWII. Many of us in the Japanese American community recognize that our own experience of institutionalized racism at the hands of our government is part of a pattern that began with chattel slavery since our country’s inception as a British colony. Although slavery ended formally with the Civil War, its legacy persisted through Jim Crow policies well into the 20th century. Mere words of regret and apology for our history of slavery and Jim Crow do nothing to repay the unfulfilled promise of 40 acres and a mule.” – Japanese American Citizens League

“We’re making historic progress advancing reparative justice in local communities nationwide. We stand together in support of HR40, the most promising and just opportunity to repair the harm of the institution of slavery and its uninterrupted legacies to date. The outcomes of the HR40 Commission can result in a comprehensive and tangible portfolio of remedies that transform this nation,” – First Repair

The full list of endorsing organizations include: AjabuSpeaks, All Souls Movement, Alliance of Baptists, American Humanist Association, Amnesty International USA, Bend the Arc: Jewish Action, Black Music Action Coalition, Black Veterans Project, Blackroots Alliance, BLIS Collective, California Black Power Network, Center for LGBTQ Economic Advancement & Research (CLEAR), Colombia Acuerdo de Paz NGO, Council on American-Islamic Relations (CAIR), DC Justice Lab, DC Reparations Coalition, Democrats Abroad Reparations Task Force, Disciples Center for Public Witness (Disciples of Christ), Empowerment Temple, Reparation Education Project, Episcopal City Mission, FirstRepair, Freedom Road Consulting, LLC, Friends Committee on National Legislation, Get Free, Human Rights Watch, Humanity2020 Group LLC, Institute for Justice & Democracy in Haiti, Japanese American Citizens League, Johnson & Klein Law, Justice for the 110, KC Reparations Coalition, Loc Community Association, Loyola Law School, Los Angeles Anti Racism Center (LARC), Make It Plain, Marijuana Justice, Maryknoll Office for Global Concerns, Media 2070, Missionary Oblates of Mary Immaculate, Movement for Black Lives, NAACP, National Action Network Education Team, National African American Reparations Commission , National Black Justice Collective, National Council of Churches, National Council of Jewish Women, National LGBTQ+ Bar Association, National Urban League, NETWORK Lobby for Catholic Social Justice, New Yorkers 4 Reparations, Northampton Reparations Study Commission, Not In Our Town, Princeton, NP/NCRR – Nikkei Progressives & Nikkei for Civil Rights & Redress, Pax Christi Metro DC-Baltimore, Pax Christi USA, RebuildingTheCommun7ty, Reparation Generation, Reparations Finance Lab, Reparations Interfaith Coalition of Massachusetts, Reparations United, Reparations4Slavery, San Francisco Bay Area Black & Jewish Unity Coalition, Sanctuary of Hope, SCOPE LA, Showing Up for Racial Justice, Sisters of Mercy of the Americas Justice Team, South Bend Reparations Working Group (SBRWG), State of Loc Nation Global Public Benefit Corp, Terence Crutcher Foundation, The Episcopal Church, The Southern Poverty Law Center, The United Methodist Church General Board of Church and Society, Tsuru for Solidarity, Tulsa African Ancestral Society, Union for Reform Judaism, Unitarian Universalists for Social Justice, United By Equity, United Church of Christ, USTRHT, Virago Strategies, Why We Can’t Wait Reparations Coalition, Women’s International League for Peace and Freedom, Young LLC.

Co-sponsors of H.R. 40 include: Rep. Adams, Alma S. [D-NC-12], Rep. Balint, Becca [D-VT-At Large], Rep. Barragán, Nanette Diaz [D-CA-44], Rep. Beatty, Joyce [D-OH-3], Rep. Bera, Ami [D-CA-06], Rep. Beyer, Donald S. [D-VA-8], Rep. Bishop, Sanford D. [D-GA-2], Rep. Bonamici, Suzanne [D-OR-1], Rep. Brown, Shontel M. [D-OH-11], Rep. Brownley, Julia [D-CA-26], Rep. Carson, André [D-IN-7], Rep. Carter, Troy A. [D-LA-2], Rep. Casar, Greg [D-TX-35], Rep. Case, Ed [D-HI-1], Rep. Casten, Sean [D-IL-6], Rep. Cherfilus-McCormick, Sheila [D-FL-20], Rep. Chu, Judy [D-CA-28], Rep. Clarke, Yvette D. [D-NY-9], Rep. Cleaver, Emanuel [D-MO-5], Rep. Clyburn, James E. [D-SC-6], Rep. Cohen, Steve [D-TN-9], Rep. Connolly, Gerald E. [D-VA-11], Rep. Alexandria Ocasio-Cortez [D-NY-14], Rep. Jasmine Crockett [D-TX-30], Rep. Davis, Danny K. [D-IL-7], Rep. Dean, Madeleine [D-PA-4], Rep. Doggett, Lloyd [D-TX-37], Rep. Espaillat, Adriano [D-NY-13], Rep. Evans, Dwight [D-PA-3], Rep. Fletcher, Lizzie [D-TX-7], Rep. Foushee, Valerie P. [D-NC-4], Rep. Frost, Maxwell [D-FL-10], Rep. Garcia, Robert [D-CA-42], Rep. Garcia, Sylvia R. [D-TX-29], Rep. Green, Al [D-TX-9], Rep. Hayes, Jahana [D-CT-5], Rep. Himes, James A. [D-CT-4], Rep. Horsford, Steven [D-NV-4], Rep. Jackson, Jonathan L. [D-IL-1], Rep. Jacobs, Sara [D-CA-51], Rep. Jayapal, Pramila [D-WA-7], Rep. Johnson, Henry C. “Hank” [D-GA-4], Rep. Kamlager-Dove, Sydney [D-CA-37], Rep. Kelly, Robin L. [D-IL-2], Rep. Khanna, Ro [D-CA-17], Rep. Landsman, Greg [D-OH-1], Rep. Lee, Summer L. [D-PA-12], Rep. Lieu, Ted [D-CA-36], Rep. McClellan, Jennifer L. [D-VA-4], Rep. McGovern, Jim [D-MA-02], Rep. McIver, LaMonica [D-NJ-10], Rep. Meeks, Gregory W. [D-NY-5], Rep. Meng, Grace [D-NY-6], Rep. Mfume, Kweisi [D-MD-7], Rep. Moore, Gwen [D-WI-4], Rep. Nadler, Jerrold [D-NY-12], Del. Norton, Eleanor Holmes [D-DC-At Large], Rep. Omar, Ilhan [D-MN-5], Rep. Panetta, Jimmy [D-CA-19], Rep. Pingree, Chellie [D-ME-1], Rep. Pocan, Mark [D-WI-2], Rep. Quigley, Mike [D-IL-5], Rep. Ramirez, Delia C. [D-IL-3], Rep. Sánchez, Linda T. [D-CA-38], Rep. Scanlon, Mary Gay [D-PA-5], Rep. Schakowsky, Janice D. [D-IL-9], Rep. David Scott [D-GA-13], Rep. Simon, Lateefah [D-CA-12], Rep. Smith, Adam [D-WA-9], Rep. Stansbury, Melanie A. [D-NM-1], Rep. Stevens, Haley M. [D-MI-11], Rep. Strickland, Marilyn [D-WA-10], Rep. Swalwell, Eric [D-CA-14], Rep. Takano, Mark [D-CA-39], Rep. Thanedar, Shri [D-MI-13], Rep. Thompson, Bennie G. [D-MS-2], Rep. Titus, Dina [D-NV-1], Rep. Tlaib, Rashida [D-MI-12], Rep. Tokuda, Jill N. [D-HI-2], Rep. Torres, Ritchie [D-NY-15], Rep. Trahan, Lori [D-MA-3], Rep. Velázquez, Nydia M. [D-NY-7], Rep. Watson Coleman, Bonnie [D-NJ-12], Rep. Williams, Nikema [D-GA-5], Rep. Wilson, Frederica S. [D-FL-24]

The full text of the bill is available here.

Throughout her time in Congress, Rep. Pressley has championed policies to address the harmful legacy of slavery and support the true liberation of Black America, including Baby Bonds, a People’s Justice Guarantee, student debt cancellation, addressing the Black maternal morbidity crisis, supporting Black-owned microbusinesses, promoting anti-racist public health policy, and more.

In April 2025, Rep. Pressley met with Northeastern University’s Center for Law, Equity, and Race to discuss efforts and further action in a shared push for reparative justice.

Congresswoman Pressley is the lead sponsor of the People’s Justice Guarantee (PJG) – her comprehensive, decarceration-focused resolution that outlines a framework for a fair, equitable and just legal system.

Last year, Rep. Pressley and House Oversight Ranking Member Jamies Raskin introduced the Federal Government Equity Improvement Act and the Equity in Agency Planning Act to codify racial equity across federal agencies and improve government services for underserved communities.

###

MIL OSI USA News –

June 19, 2025
MIL-OSI USA: ICE Tyler joint investigation leads to life in federal prison for Cherokee County man convicted for sex trafficking teens

Source: US Immigration and Customs Enforcement

DALLAS — A Jacksonville, Texas man has been sentenced to life in federal prison for sex trafficking violations, announced U.S. Immigrations Customs Enforcement Homeland Security Investigations Dallas Special Agent in Charge Travis Pickard and acting U.S. Attorney Eastern District Texas Jay R. Combs.

Desnique Deshawn Herndon, 28, was sentenced to seven life sentences by U.S. District Judge J. Campbell Barker June 18. In 2023, Herndon was convicted by a jury of six counts of sex trafficking of children and one count of conspiracy to commit sex trafficking of children following a five-day trial.

“Sex trafficking is one of the most appalling crimes in our society, exploiting the most vulnerable among us. HSI remains committed to identifying traffickers, dismantling their criminal networks, and providing critical support to survivors,” said ICE Homeland Security Investigations Dallas Special Agent in Charge Travis Pickard. “Through our victim-centered investigations, we will spare no resource to protect communities and seek justice for those victimized by this modern-day slavery.”

According to court testimony, beginning in 2019, Herndon trafficked multiple teenage girls for commercial sex acts. Herndon recruited the girls by social media, deceived them by promising riches, and placed them in hotels in the Tyler area. He then posted advertisements on sex trafficking websites showing explicit photos of the girls, offering commercial sex acts. Some of Herndon’s victims were as young as 13 years old. During trial, jurors heard testimony that Herndon used co-conspirators to continue to run his operation while in jail so the victims could earn money to pay his bond.

“Victimizing children through commercial sex trafficking is reprehensible and will be prosecuted vigorously in East Texas,” said acting U.S. Attorney Jay R. Combs. “We will not stand by and watch the lives of young people ruined by predators like Herndon to satisfy the wanton interests of commercial sex customers. Herndon’s life sentence demonstrates our society’s intolerance for such callous disregard for others. I want to thank our many law enforcement partners for their diligent work on this case.”

Three of Herndon’s co-conspirators previously pled guilty for their roles in the offenses. Malcolm Kadeem Roberts, 29, of Tyler, was sentenced Nov. 16, 2023, to over 12 years in federal prison for conspiracy to commit sex trafficking of children. Roberts was also sentenced to 75 years in state prison in Smith County District Court for aggravated sexual assault of a child charges in relation to one of the minor victims in this case. Tavarus D. Watkins, 29, of Jacksonville, was sentenced to 10 years in prison on Nov. 16, 2023, for interstate transport of a minor for illegal sexual activity. Patrick Lamont Cross, Jr, 28, of Palestine, pleaded guilty on Aug. 22, 2022, to conspiracy to commit sex trafficking of children. Cross is scheduled to be sentenced July 10.

This case was investigated by the Homeland Security Investigations Tyler Resident Agent in Charge, supported by the North Texas Trafficking Task Force, FBI Tyler Resident Agent in Charge, Texas DPS Criminal Investigations Division, Texas Attorney General’s Human Trafficking Unit, Tyler Police Department, Henderson County Sherriff’s Office, Cherokee County Sherriff’s Office, Jacksonville Police Department, Smith County Sheriff’s Office, Panola County Sheriff’s Office, Palestine Police Department, Abilene Police Department, and the Texas Department of Public Safety Crime Lab.

This case was prosecuted by Assistant U.S. Attorneys Ryan Locker and Alan Jackson, and Special Assistant U.S. Attorney Bryan Jiral.

Learn more about HSI Dallas’ mission to preserve public safety on X at @HSI_Dallas.

MIL OSI USA News –

June 19, 2025
MIL-OSI USA: Chicago Lab Owner Sentenced to Seven Years in Prison in Connection with $14M COVID-19 Fraud Scheme

Source: US State of California

The owner of a Chicago laboratory has been sentenced today to seven years in prison for his role in a COVID-19 testing fraud scheme.

According to court documents, Zishan Alvi, 46, of Inverness, Ill., owned and operated a laboratory in Chicago that performed testing for COVID-19. In 2021 and 2022, Alvi caused claims to be submitted to the U.S. Department of Health and Human Services’ Health Resources and Services Administration (HRSA) for COVID-19 tests that were either not performed at all or not performed correctly. As part of the scheme, the laboratory released negative test results to patients, even though the laboratory either had not tested the specimens or the results were inconclusive because Alvi had diluted the tests to save on costs, rendering the tests unreliable. Alvi knew that the laboratory was releasing negative results for tests that were not performed or were inconclusive but still caused the laboratory to bill HRSA for those tests. Alvi also lied to laboratory directors to conceal his fraud. As a result of the fraudulent claims, HRSA paid the laboratory more than $14 million.

Alvi pleaded guilty to one count of wire fraud on September 30, 2024. At sentencing, he was also ordered to pay $14,199,217 in restitution, and forfeit approximately $6.8 million in cash, a 2021 Range Rover HSE, and over $630,000 from an E-Trade account.

Matthew R. Galeotti, Head of the Justice Department’s Criminal Division, U.S. Attorney Andrew S. Boutros for the Northern District of Illinois, Special Agent in Charge Douglas S. DePodesta of the FBI Chicago Field Office, and Deputy Inspector General for Investigations Christian J. Schrank, of the U.S. Department of Health and Human Services Office of Inspector General (HHS-OIG) made the announcement.

The FBI and HHS-OIG investigated the case.

Trial Attorney Claire Sobczak Pacelli of the Criminal Division’s Fraud Section and Assistant U.S. Attorney Jared Hasten for the Northern District of Illinois prosecuted the case.

The Fraud Section leads the Criminal Division’s efforts to combat health care fraud through the Health Care Fraud Strike Force Program. Since March 2007, this program, currently comprised of nine strike forces operating in 27 federal districts, has charged more than 5,800 defendants who collectively have billed federal health care programs and private insurers more than $30 billion. In addition, the Centers for Medicare & Medicaid Services, working in conjunction with the Office of the Inspector General for the Department of Health and Human Services, are taking steps to hold providers accountable for their involvement in health care fraud schemes. More information can be found at https://www.justice.gov/criminal-fraud/health-care-fraud-unit.

MIL OSI USA News –

June 19, 2025
MIL-OSI USA: North Dakota Launches ND Gateway, Laying the Foundation for a One-Stop Portal for State Services

Source: US State of North Dakota

In a major step toward modernizing and simplifying the user experience with state government, North Dakota has launched the first phase of ND Gateway. Led by North Dakota Information Technology (NDIT) and other partner agencies, ND Gateway creates a single portal through which business owners and entrepreneurs can access essential state government services.

ND Gateway’s first digital experience gives citizens and business owners access to a centralized source of business tools and resources. It will continue to evolve into a one-stop location for business-related services, including registrations, annual reports, tax and insurance compliance, and general tutorials for North Dakota’s growing economic community.

“This is an exciting first step of many for ND Gateway. Business leaders should spend their time on the needs of their customers and staff, not drowning in redundant layers of bureaucracy. ND Gateway is one more way North Dakota continues to be the best state in the country to do business,” said Evonne Amundson, Chief Business Application Officer. “This portal puts citizens and other users in the hub of business support, with a ‘no wrong door’ approach. If someone currently knows where to get business-related services, they will still have direct access through individual agency websites. But new and returning users alike will find NDGateway.nd.gov a convenient option for services and information.”

Key Features of ND Gateway

Business Interest Form: A convenient way for entrepreneurs and users to share new business ideas with the state, ensuring that potential opportunities are quickly identified and supported.

Business Checklist: A personalized checklist created from five business-related state agencies to guide users through creating or modifying a business in North Dakota.

Starting a Business Form: An updated “Starting a Business” web form from the North Dakota Department of Commerce. This enhanced version immediately connects users to resources at the Small Business Development Center, as well as Commerce’s Community Services and Economic Development & Finance teams.

Five state government agencies are inaugural leaders of ND Gateway: Secretary of State, Office of the State Tax Commissioner, Job Service North Dakota, Workforce Safety & Insurance, and Commerce. Additional agencies and services will be added with the development of future phases.

For more information about ND Gateway, visit NDGateway.nd.gov.

MIL OSI USA News –

June 19, 2025
MIL-OSI: Canadian Life Companies Split Corp. Overnight Offering Announced
Source: GlobeNewswire (MIL-OSI)

TORONTO, June 18, 2025 (GLOBE NEWSWIRE) — Canadian Life Companies Split Corp. (“the Company”) is pleased to announce it will undertake an offering of Preferred Shares (TSX: LFE.PR.B) and Class A Shares (TSX: LFE) of the Company. The offering will be led by National Bank Financial Inc.

The sales period of this overnight offering will end at 9:00 a.m. EST on June 19, 2025. The offering is expected to close on or about June 26, 2025 and is subject to certain closing conditions including approval by the TSX.

The Preferred Shares will be offered at a price of $10.55 per Preferred Share to yield 6.64% and the Class A Shares will be offered at a price of $6.35 per Class A Share to yield 18.90%.

The closing price on the TSX of each of the Preferred Shares and Class A Shares on June 17, 2025 was $10.71 and $6.39, respectively.

Since inception of the Company, the aggregate dividends declared on the Preferred Shares have been $12.44 per share and the aggregate dividends declared on the Class A Shares have been $9.15 per share, for a combined total of $21.59 per unit. All distributions paid to date have been made in tax advantage eligible Canadian dividends or capital gains dividends.

The net proceeds of the offering will be used by the Company to invest in an actively managed portfolio primarily consisting of four publicly traded Canadian life insurance companies as follows: Great‐West Lifeco Inc., Industrial Alliance Insurance & Financial Services Inc., Manulife Financial Corporation and Sun Life Financial Inc.

The Company’s investment objectives are:

Preferred Shares:
1. to provide holders of the Preferred Shares with fixed, cumulative preferential monthly cash dividends at a rate equal to the greater of: 7.00% OR Prime Rate plus 2% (max of 9%) annually based on the $10.00 original issue price, and;
2. on or about December 1, 2030 (subject to further 6 year extensions), to pay the holders of the Preferred Shares the original $10 issue price of those shares.
Class A Shares:
1. to provide holders of the Class A Shares with regular monthly cash dividends as the directors of the Company may from time to time determine; and
2. on or about December 1, 2030 (subject to further 6 year extensions), to pay the holders of Class A Shares such amounts as remain after paying the holders of the Preferred shares the amounts owing to them.
A prospectus supplement to the Company’s short form base shelf prospectus dated May 1, 2024, containing important detailed information about the Preferred Shares and the Class A Shares being offered will be filed with securities commissions or similar authorities in all provinces of Canada. Copies of the prospectus supplement and the short form base shelf prospectus may be obtained from your registered financial advisor using the contact information for such advisor, or from representatives of the agents listed above. There will not be any sale or any acceptance of an offer to buy the securities being offered until the prospectus supplement has been filed with the Securities Commissions or similar authorities in each of the provinces of Canada.

Investor Relations: 1-877-478-2372
Local: 416-304-4443
www.lifesplit.com
info@quadravest.com

The MIL Network –
June 19, 2025
MIL-OSI USA: Reimaging Rochester with Bull’s Head Empowerment Center
Source: US State of New York

overnor Kathy Hochul today announced a transformational $23.6 million project to establish the Bull’s Head Empowerment Center on Clifton Street in Rochester. The Empowerment Center, located within the City’s 12.8-acre Bull’s Head Neighborhood Brownfield Opportunity Area, will see the adaptive reuse and expansion of an existing building into a fully occupied mixed-use center that will house workforce development programming, not-for-profit services, and local businesses. Confirmed tenants include a construction workforce development center, two construction firms, and several non-profit organizations, a 24-hour daycare operated by Action for a Better Community, and a proposed coffee shop. New York State is providing $3 million for the project through the Regional Revitalization Partnership (RRP) initiative.

“The public-private Regional Revitalization Partnership is serving as a national model and catalyst for economic development,” Governor Hochul said. “This investment in the Bull’s Head Empowerment Center in Rochester represents another shining example of the initiative’s success. By targeting these neighborhoods in Rochester, Buffalo and Niagara Falls, New York State is lifting up and transforming disadvantaged communities, building a more equitable future for all New Yorkers.”

The project, led by USC Builds, a certified New York State Minority and Women-Owned Business Enterprise (MWBE) member, serves as an early anchor for the City’s $350 million Bull’s Head Revitalization Plan aimed at helping to create equitable and enhanced job and business opportunities, provide quality housing and improved public infrastructure. The center is expected to be operational in the spring of 2027.

USC Builds President Melissa Suchodolski said, “We are deeply grateful to Empire State Development for this $3 million investment in the Bull’s Head Empowerment Center. This support marks a meaningful step toward realizing our vision for 160 Clifton Street — a space where equity and economic opportunity can take root. By bringing workforce training, affordable childcare and local business support under one roof, we’re laying the foundation for a community resource designed to meet real needs in one of Rochester’s most historically disinvested neighborhoods.”

Action for a Better Community President and CEO Jerome Underwood said, “For anyone who has lived in Rochester for the past 30 years the revitalization of the Bulls Head Plaza has been a long time coming. As we mark Action for a Better Community’s 60th anniversary of services to the Rochester community we are thrilled to be an integral part of this development. ABC looks forward to providing high quality and affordable childcare to those who so desperately need it. We applaud the vision of the development team and the wisdom of the State to fund this crucial project.”

The Empowerment Center is directly adjacent to the West Main Gateway project, which received an RRP investment of $10 million. The project is designed to help revitalize the West Main Street Corridor from West Genesee Street to West Broad Street, a historically significant but long-underinvested area of Rochester.

Phase one of Rochester’s approved RRP includes 14 projects totaling over $40 million in investment across key commercial corridors, riverfront activation, and workforce development. A full list of projects can be found here.

Overall, Rochester is set to receive a combined $80 million RRP investment, which includes major additional investments in the City’s ongoing waterfront efforts, such as ROC the Riverway and High Falls State Park; further support for multi-faceted workforce training programs and facilities; and targeted small business assistance along commercial corridors in that city’s most disadvantaged neighborhoods. OneROC serves as the regional intermediary for the RRP in Greater Rochester, ensuring that investments are strategically aligned, collaborative, and impactful.

Rochester Mayor Malik D. Evans said, “The Bull’s Head Empowerment Center will play a critical role to restore the historic Bull’s Head neighborhood to its place of prominence as Rochester’s western gateway. I want to thank Governor Kathy Hochul and Empire State Development President Hope Knight for making the critical investments to make this project a reality. I’m also grateful for the leadership of USC Builds owner Melissa Suchodolski, who was born and raised in the 19th Ward, for her determination to move this project forward and provide the people of Bulls Head the signs of progress that they deserve.”

The RRP is a $300 million public-private partnership designed to maximize social and economic impact efforts in Rochester, Buffalo and Niagara Falls, by co-investing in projects and programs aimed at improving economic conditions to benefit these communities’ residents and businesses. Overall, New York State has committed $200 million for the initiative and Ralph C. Wilson, Jr. Foundation, along with other philanthropic and corporate partners, have committed $81 million. The remaining $19 million is coming from city and county governments.

The Three Pillars of the Program:
- Fostering small businesses, by providing programs to help improve and grow these enterprises, especially those owned by women and people of color, which expand choices for goods and services to these neighborhoods, revenue and income for community members, and job opportunities.
- Investing in placemaking, by funding improvements to local business districts, rebuilding community anchors and revitalizing neighborhoods.
- Preparing our workforce, by enhancing local residents’ skills and improving their access to opportunities for good-paying jobs.
Additional information is available regarding RRP funding available here.

Empire State Development President, Commissioner and CEO Hope Knight said, “The Regional Revitalization Partnership is a game-changing initiative. This targeted investment in Rochester’s Bull’s Head neighborhood will support the people, places, and businesses that are dedicated to ensuring that this neglected area can now truly thrive. This inclusive, collaborative effort is stimulating economic revitalization in Rochester, Buffalo and Niagara Falls, creating real opportunity for hope one community at a time.”

State Senator Jeremy Cooney said, “The Bull’s Head Empowerment Center will be a gamechanger for workforce development, small businesses, and the continued revitalization of the surrounding neighborhood. I want to thank Governor Hochul and the work of the Regional Revitalization Partnership to make this project a reality and deliver on behalf of our community.”

Assemblymember Harry Bronson said, “The Bull’s Head Empowerment Center represents the transformative impact of partnerships between public and private stakeholders, helping to grow our middle class through workforce development programs, expanding employment opportunities, bolstering our economy, and strengthening our neighborhoods. We must have an economy that works for everyone, and the Regional Revitalization Partnership’s investment creates a multiplier effect that uplifts residents and small businesses.”

Assemblymember Demond Meeks said, “The Bull’s Head Empowerment Center is a long-overdue investment that will help revitalize one of Rochester’s most historic yet underserved neighborhoods. By transforming vacant space into a hub for workforce training, childcare, and local business support, this project will breathe new life into the Bull’s Head area. It’s about restoring pride, creating opportunity, and making sure longtime residents see real, lasting change in their community.”

Monroe County Executive Adam Bello said, “This investment in the Bull’s Head neighborhood will build upon the revitalization of this important section of the West Main Street corridor. The Bull’s Head Empowerment Center will serve as a cornerstone for area residents, providing workforce training, retail businesses and support services. I want to thank Governor Kathy Hochul, Empire State Development President & CEO Hope Knight and the team at USC Builds for coming together to support the redevelopment of this historic neighborhood.”

OneROC President and CEO Joe Stefko said, “The Bull’s Head Empowerment Center embodies exactly what the Regional Revitalization Partnership was designed to do – align public, private, and philanthropic partners to invest in transformational projects and maximize community impact. Thank you to Governor Hochul and Empire State Development for their continued leadership and commitment to bringing new life to a storied Rochester neighborhood and creating space for small businesses, workforce training, and vital community services. OneROC is proud to work alongside USC Builds and the City of Rochester to build on the new West Main Gateway project and make this bold vision a reality.”

About the Regional Revitalization Partnership (RRP)

The Regional Revitalization Partnership (RRP) is a $300M comprehensive economic development strategy and public-private partnership that maximizes impact and leverages additional investment for Buffalo’s East Side, Niagara Falls and Rochester. This community-driven, collaborative strategy takes a holistic approach to economic development and is designed to build community wealth through multiple paths. The RRP was developed in collaboration with New York State Governor Kathy Hochul and Empire State Development (ESD) and is supported by ESL, Evans Bank, Max and Marian Farash Charitable Foundation, Five Star Bank, John R. Oishei Foundation, KeyBank/First Niagara Foundation, William & Sheila Konar Foundation, M&T Bank, Ralph C. Wilson, Jr. Foundation, and partners in the cities of Buffalo, Niagara Falls, and Rochester. RRP program implementation is led by the Center for Regional Strategies.

Accelerating Economic Development in the Finger Lakes

Today’s announcement complements “Finger Lakes Forward,” the region’s comprehensive strategy to generate robust economic growth and community development. The regionally designed plan focuses on investing in key industries including photonics, agriculture‎ and food production, and advanced manufacturing. More information is available here.

MIL OSI USA News –
June 19, 2025
MIL-OSI Russia: Djibouti Implements the Enhanced General Data Dissemination System (e-GDDS)

Source: IMF – News in Russian

June 18, 2025

Washington, DC: With the successful launch of the new data portal—the National Summary Data Page (NSDP)—Djibouti has implemented a key recommendation of the IMF’s Enhanced General Data Dissemination System (e-GDDS) to publish essential macroeconomic and financial data. The e-GDDS is the first tier of the IMF Data Standards Initiatives that promote transparency as a global public good and encourages countries to voluntarily publish timely data that is essential for monitoring and analyzing economic performance.

The launch of the NSDP is a testament to the Djibouti’s commitment to data transparency. It serves as a one-stop portal for disseminating various macroeconomic data compiled by multiple statistical agencies. The published data include statistics on national accounts, prices, government operations, debt, the monetary and financial sector, and the external sector.

The launch of the NSDP was supported by an IMF technical assistance mission, financed by the Government of Japan through the Japan Administered Account for Selected Fund Activities, and conducted in collaboration with the African Development Bank from June 9 to 12, 2025. The mission was hosted by the Central Bank of Djibouti in close collaboration with the Ministry of Budget, the Ministry of Economy and Finance, as well as the National Statistics Institute of Djibouti.

With this reform, Djibouti will join 75 countries worldwide and 35 countries in Africa using the e-GDDS to disseminate standardized data.

Mr. Bert Kroese, Chief Statistician and Data Officer, and Director of the IMF’s Statistics Department, commended the authorities for this major milestone in the Djibouti’s statistical development. He also emphasized that Djibouti would benefit from using the e-GDDS participation as a tool to further improve data transparency. The IMF stands ready to “continue supporting the authorities in further developing their statistical systems.”

IMF Communications Department

MEDIA RELATIONS

PRESS OFFICER: Pemba Sherpa

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

@IMFSpokesperson

https://www.imf.org/en/News/Articles/2025/06/18/pr-25205-djibouti-djibouti-implements-the-e-gdds

MIL OSI

MIL OSI Russia News –

June 19, 2025

boepd	Barrels of oil equivalent per day*
LNG	Liquefied Natural Gas
MT	Metric tonnes