NewzIntel.com

Category: Finance

  • MIL-OSI: Kindcard, Inc. Launches Payments Marketplace

    Source: GlobeNewswire (MIL-OSI)

    BOCA RATON, Fla., April 23, 2025 (GLOBE NEWSWIRE) — Kindcard, Inc. (OTC Markets: KCRD) (“Kindcard” and the “Company”), an innovative FinTech and PayTech company which provides alternative payments solutions to businesses across a wide variety of merchant verticals through its wholly owned subsidiary, Deb, Inc. (“DEB”) (www.debpayments.com), today announced that the Company through its strategic partnership with Bloxcross, Inc. (www.blox.global) (“Blox”) has onboarded its initial merchant accounts utilizing the Blox worldwide digital technology platform.

    Michael Rosen, CEO of Kindcard, stated, “Our Deb platform in combination with Blox has actively been introducing our all-in-one Payments Marketplace to industry resellers, referral partners and end user clients.” Mr. Rosen continued, “We have experienced an enthusiastic response to our ‘Deb powered by Blox’ approach to provisioning a platform that encompasses traditional card processing with the ability to offer digital payments online and in-store, business and consumer wallets, currency conversion, and payouts worldwide.”

    Diego Baez, CEO of Blox, stated, “Having focused our efforts on the buildout of our Blox digital payments platform with a focus on B2B transactions worldwide, our launch of this strategic partnership with Deb, including Deb’s introductions to its payments industry partners and clients under Deb’s all-in-one Payments Marketplace, has been exciting for our organization, and we look forward to continued mutual growth as strategic partners.”

    To learn more about DEB, please visit: www.debpayments.com

    About Kindcard, Inc.:

    Kindcard, Inc. (OTC Markets: KCRD) (“Kindcard” and the “Company”) is engaged in designing, partnering and taking to market safer, faster, and more competitive and secure ways for businesses and consumers to transact business in the ever-growing world economy. www.kindcard.com

    Kindcard is subject to the information and reporting requirements of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and, in accordance with the Exchange Act, the Company files periodic reports, documents, and other information with the Securities and Exchange Commission (the “Commission”) relating to our business, financial statements, and other matters. These filings are available to the public on the Commission’s website at http://www.sec.gov.

    About Bloxcross, Inc.:

    Bloxcross, Inc. (www.blox.global) (“Blox”) is a fintech innovator redefining cross-border payments through a blockchain-integrated network that prioritizes speed, security, and accessibility. With operations spanning over 32 countries and more than $350 million in total payment volume processed to date, Blox delivers robust solutions including Blox Pay and Blox Trade Finance. These services empower businesses and institutions with real-time settlement capabilities and seamless international trade.

    Safe Harbor Provision

    This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, that are intended to be covered by the safe harbor created thereby. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “will,” “expects,” “intends,” “plans,” “projects,” “estimates,” “anticipates,” or “believes” or the negative thereof or any variation thereon or similar terminology or expressions. These forward-looking statements are based upon current estimates and assumptions. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from results proposed in such statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can provide no assurance that such expectations will prove to have been correct. Important factors that could cause actual results to differ materially from the Company’s expectations include, but are not limited to, those factors set forth in the Company’s Annual Report on Form 10-K for the year ended January 31, 2024 and its other filings and submissions with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, the Company assumes no obligation to update or revise any forward-looking statements. This press release includes forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition, and also includes selected operating results presented without the context of accompanying financial results.

    These forward-looking statements include, among others, statements with respect to our objectives and strategies to achieve those objectives, as well as statements with respect to our beliefs, plans, expectations, anticipations, estimates or intentions. These forward-looking statements are based on our current expectations. We caution that all forward-looking information is inherently uncertain and actual results may differ materially from the assumptions, estimates or expectations reflected or contained in the forward-looking information, and that actual future performance will be affected by a number of factors, including economic conditions, technological change, regulatory change and competitive factors, many of which are beyond our control. Therefore, future events and results may vary significantly from what we currently foresee. We are under no obligation (and we expressly disclaim any such obligation) to update or alter the forward-looking statements whether as a result of new information, future events or otherwise.

    Contact: Kindcard, Inc. (888) 888-0708

    Info@kindcard.com

    Investor Relations:

    Info@kindcard.com

    The MIL Network –

  • MIL-OSI United Kingdom: Greens call for end to King’s property tax break

    Source: Scottish Greens

    23 Apr 2025 Finance

    The Monarchy is an costly and archaic institution.

    More in Finance

    Scottish Green MSP Ross Greer has tabled proposals to end the King’s exclusive 100% tax exemption when buying property in Scotland.

    Mr Greer has lodged proposals to the Housing (Scotland) Bill that would close the loophole allowing the King to purchase property in Scotland without paying any Land and Buildings Transaction Tax (LBTT).

    Any other family buying a property worth over £145,000 would pay LBTT at 5-12%, depending on the value of the property.

    This is one of several tax exemptions enjoyed by the monarchy. They are also exempt from taxes reserved to the UK Government including corporation tax, capital gains tax and inheritance tax.

    Mr Greer said:

    “It’s simply unjustifiable that one of the richest men in the country gets a free pass from paying tax because of the family he was born into.

    “The Scottish Greens would obviously scrap the monarchy in a heartbeat, but even royalists must agree that this is an absurd and undeserved perk for someone more than capable of paying his fair share towards our public services.

    “The Crown is an expensive relic, and an insult to democracy. One family should not be allowed to exempt itself from whichever laws it doesn’t want to follow.

    “The Scottish Parliament may not have the power to end every tax perk enjoyed by the Windsors, but we can end this one and set an example for the UK Government to follow.

    “My proposals are a modest but important step towards a fairer Scotland. If Parliament agrees, it would be a powerful statement against entrenched power and privilege.

    “It’s long past time that we challenged rather than pandered to elites who want one rule for themselves and another for the rest of us.”

    MIL OSI United Kingdom –

  • MIL-OSI Security: Russell Laffitte Pleads Guilty to Conspiracy, Wire Fraud, Bank Fraud, and Misapplying Bank Funds

    Source: Federal Bureau of Investigation (FBI) State Crime Alerts (c)

    CHARLESTON, S.C. — Former banker Russell Lucius Laffitte, 54, of Estill, has pleaded guilty in federal court to conspiracy to commit wire fraud and bank fraud; wire fraud; bank fraud; and three counts of misapplication of bank funds.

    “Russell Laffitte and Alex Murdaugh abused their positions of power to victimize people who trusted them,” said Ben Garner, Chief of the U.S. Attorney’s Office Criminal Division. “As of today, both have pleaded guilty and accepted responsibility for their crimes in federal court. We appreciate the exhaustive work of our partners at the FBI, SLED, and South Carolina Attorney General’s Office to ensure justice for Laffitte and Murdaugh’s victims.”

    Laffitte was an officer and executive at Palmetto State Bank in Hampton, South Carolina. His co-conspirator, Alex Murdaugh, was a personal injury attorney at a law firm in Hampton.

    As part of his guilty plea, Laffitte admitted that he agreed to serve as conservator and personal representative for several of Murdaugh’s clients, knowing that he would personally profit from doing so. Beginning in 2011, Laffitte began extending himself and Murdaugh loans from conservator accounts Laffitte was charged with managing. Laffitte did not disclose the loans to the conservatees, despite owing them a fiduciary duty.

    Around that time, Murdaugh devised a scheme to obtain money belonging to his clients. In furtherance of the scheme, Murdaugh directed law firm employees to make clients’ checks payable to Palmetto State Bank. The checks were drawn on the law firm’s client trust account, identified the clients on the memo lines, and corresponded to amounts set forth in the clients’ disbursement sheets.

    As to two of Murdaugh’s clients, Laffitte—their conservator—saw their disbursement sheets and knew that the bank was supposed to receive their settlement funds. Murdaugh presented the clients’ checks to Laffitte and directed that they be used for Murdaugh’s personal benefit, including to pay off loans Laffitte had extended from conservator accounts. Laffitte negotiated nine separate transactions for Murdaugh’s benefit, knowing that the funds belonged to the clients.

    Laffitte also aided and abetted the structuring of transactions from a second check belonging to one of the clients, disbursing the funds at Murdaugh’s direction and for Murdaugh’s personal benefit.

    As to a third client of Murdaugh’s, Laffitte negotiated 12 separate transactions, disbursing $1,325,000 in client settlement funds for Murdaugh’s benefit. Despite knowing they were client funds, Laffitte allowed Murdaugh to use the funds to repay Murdaugh’s personal loans, repay loans Laffitte extended from a conservator account, purchase vehicles and equipment, and receive cash back. Laffitte also deposited some of the funds into Murdaugh’s personal account.

    Laffitte received $75,000 in conservator fees and $35,000 in personal representative fees from these three clients. He intentionally failed to report this income on his tax returns, knowing that he could hide the income because the fee checks were drafted to Palmetto State Bank rather than to him personally. Laffitte also structured transactions to avoid reporting requirements and intentionally failed to file suspicious activity reports.

    In 2015, Laffitte misapplied bank funds by extending over $284,000 from a line of credit that was supposed to be for farming to repay Murdaugh’s remaining loans from the conservatorship.

    Laffitte also misapplied bank funds on two other occasions. In July 2021, he extended Murdaugh a $750,000 loan for the stated purpose of beach house renovations. But Laffitte authorized a $350,000 wire transfer to an attorney and then transferred $400,000 of “loan proceeds” to Murdaugh’s account to cover over $367,000 in overdraft, knowing that these funds had nothing to do with beach house renovations.

    In October 2021, the law firm uncovered that Murdaugh had stolen from clients. Laffitte knew he had negotiated stolen checks at Murdaugh’s direction despite knowing the funds did not belong to Murdaugh. Laffitte then paid the law firm $680,000 in bank funds without the knowledge or consent of the full bank Board of Directors or Executive Committee in an attempt to settle the matter with the law firm.

    A federal jury previously convicted Laffitte of these same six charges in 2022. His conviction was overturned by the Fourth Circuit Court of Appeals in late 2024.

    Under the terms of the plea agreement, Laffitte agrees to pay $3,555,884.80 in criminal restitution before sentencing. Laffitte also agrees that his guilty plea prohibits him from controlling or participating in the conduct of any federally insured bank or credit union, and he cannot serve as a director or officer of any such bank or credit union without permission.

    If Laffitte complies with the plea agreement’s terms, the parties agree that the appropriate sentence is five years in prison, and the Government agrees not to file any additional related charges against Laffitte.

    United States District Judge Richard M. Gergel accepted the guilty plea and will impose a sentence at a later date.

    The case was investigated by the FBI Columbia Field Office and South Carolina Law Enforcement Division. Assistant U.S. Attorneys Emily Limehouse, Kathleen Stoughton, and Winston Holliday are prosecuting this case.

    ###

    MIL Security OSI –

  • MIL-OSI: XRP News: XenDex Announces $XDX Token Sale As SEC Drops Ripple (XRP) Lawsuit

    Source: GlobeNewswire (MIL-OSI)

    SYDNEY, Australia, April 23, 2025 (GLOBE NEWSWIRE) — XenDex is thrilled to announce the first AI-powered all-in-one decentralized exchange (DEX) built on XRP, combining non-custodial lending and borrowing, AI copy trading, and DAO governance in a single user-centric platform.

    Currently, excitement grows across the crypto industry amid SEC dropping the XRP Ripple Lawsuit. A new decentralized finance project, XenDex is seizing the moment to reshape the XRP Ledger ecosystem. With XRP (which is designed for speed, scalability, and community participation) gaining mainstream attention once again and institutional capital eyeing the asset class, XenDex is poised to become a major infrastructure player on the XRP Ledger and is set to redefine how users trade, earn, and govern on-chain.

    Buy $XDX Token Now

    The new Ripple based DeFi is ready to offer its native token for sale, ready to raise major funds in record time for advancement and further development of the project. The new XRP project has become the talk of the XRP community and investors are already jumping onboard, convinced XDX will deliver massive returns and position itself as XRP’s breakout altcoin by 2025.

    XenDex promotes itself as a transformative platform combining the power of Artificial Intelligence (AI) with an ultra-fast and low-fee XRP Ledger (XRP).

    Join XenDex Presale

    XenDex has officially revealed that the $XDX token is ready for sale through its website XenDex.net, offering early adopters first access to one of XRP’s most ambitious DeFi platforms to date. The $XDX token serves as the utility and governance currency powering all features across the XenDex ecosystem.

    The token sale begins when Ripple Labs officially concludes its long-running legal battle with the U.S. Securities and Exchange Commission (SEC) which marks a monumental moment for both XRP holders and the broader cryptocurrency industry. This has fueled optimism across the Ripple community. Institutional interest, growing liquidity, and infrastructure upgrades are aligning — and XenDex is launching at the perfect time to capture this surge in demand.

    Features of XenDex

    • Lending & Borrowing – Access liquidity or earn passive income via secure, smart contract-based loans.
    • AI Copy Trading – Automatically mirror top traders in real-time using our AI-powered copy engine.
    • Spot & Perpetual Trading – Trade instantly via an embedded AMM with zero custodial risk.
    • Liquidity Farming & Staking – Earn $XDX rewards for providing liquidity or staking tokens.
    • DAO Governance – Every $XDX token holder can vote on key upgrades, listings, and ecosystem decisions.
    • Cross-Chain Compatibility – Future support for Ethereum, BNB, Cardano, and more.

    Tokenomics at a Glance

    • Token Ticker: $XDX
    • Total Supply: 1,000,000,000
    • Presale Allocation: 300,000,000 XDX
    • Utilities: Governance, staking, platform fees, airdrops, and more.

    Buy XDX Tokens

    Smart contracts are currently undergoing comprehensive audits, and the platform will be fully non-custodial with transparent DAO-based governance. Early adopters participating in the presale will benefit from staking rewards, airdrops, and priority access to upcoming product launches.

    As the market looks toward a possible XRP ETF launch, projects like XenDex are building the infrastructure needed to support this wave of adoption. With its blend of automation, community empowerment, and high-speed execution, XenDex is positioning itself as the primary DeFi gateway for XRP-based assets.

    Join the Movement Now!

    Website: xendex.net
    Presale – https://xendex.net/presale/
    Telegram: t.me/XenDexCommunity
    Twitter/X: https://x.com/xendex_xrp

    Contact:
    Frank Richards
    Frank@xendex.net

    Disclaimer: This is a paid post provided by XenDex. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3f59d62f-81ec-4c60-a99b-145716270a5a

    The MIL Network –

  • MIL-OSI: CORRECTION – Middlefield Global Dividend Growers ETF Distributions

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, April 23, 2025 (GLOBE NEWSWIRE) — In a release issued today by Middlefield Sustainable Global Dividend ETF (TSX: MDIV), please note the source should have read as Middlefield Global Dividend Growers ETF. The corrected release follows:

    Middlefield Global Dividend Growers ETF (TSX: MDIV) (the “Fund”) is pleased to announce that distributions for the second quarter of 2025 will be payable to unitholders of Middlefield Global Dividend Growers ETF as follows:

    Record Date Payable Date Distribution Per
    Trust Unit
    April 30, 2025 May 15, 2025 $0.06
    May 31, 2025 June 13, 2025 $0.06
    June 30, 2025 July 15, 2025 $0.06


    The trust units trade on the Toronto Stock Exchange under the symbol     MDIV.

    The Fund offers a distribution reinvestment plan (“DRIP”) for unitholders which provides unitholders with the ability to automatically reinvest distributions, commission free, and realize the benefits of compound growth. Unitholders can enroll in the DRIP program by contacting their investment advisor.

    Middlefield

    Founded in 1979, Middlefield is a specialist equity income asset manager with offices in Toronto, Canada and London, England. Our investment team utilizes active management to select high-quality, global companies across a variety of sectors and themes. Our product offerings include proven dividend-focused strategies that span real estate, healthcare, innovation, infrastructure, energy, diversified income and more. We offer these solutions in a variety of product types including ETFs, Mutual Funds, Closed-End Funds, Split-Share Funds and Flow-through LPs.

    For further information, please visit our website at www.middlefield.com or contact Nancy Tham in our Sales and Marketing Department at 1.888.890.1868.

    This press release contains forward-looking information. The forward-looking information contained in this press release is based on historical information concerning distributions and dividends paid on the securities of issuers historically included in the portfolio of the Fund. Actual future results, including the amount of distributions paid by the Fund, may differ from the monthly distribution amount. Specifically, the income from which distributions are paid may vary significantly due to: changes in portfolio composition; changes in distributions and dividends paid by issuers of securities included in the Fund’s portfolio from time to time; there being no assurance that those issuers will pay distributions or dividends on their securities; the declaration of distributions and dividends by issuers of securities included in the portfolio will generally depend upon various factors, including the financial condition of each issuer and general economic and stock market conditions; the level of borrowing by the Fund; and the uncertainty of realizing capital gains.  The risks, uncertainties and other factors that could influence actual results are described under “Risk Factors” in the Fund’s prospectus and other documents filed by the Fund with the Canadian securities regulatory authorities. The forward-looking information contained in this press release constitutes the Fund’s current estimate, as of the date of this press release, with respect to the matters covered hereby. Investors and others should not assume that any forward-looking statement contained in this press release represents the Fund’s estimate as of any date other than the date of this press release.

    The MIL Network –

  • MIL-OSI Security: Houston Man Sentenced to Federal Prison for Smith County ATM Burglaries

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

    TYLER, Texas – A Houston man has been sentenced to prison for federal violations in the Eastern District of Texas, announced Acting U.S. Attorney Abe McGlothin, Jr.

    Julius Lawan Lockett, Jr., 30, pleaded guilty to conspiracy to commit bank theft and was sentenced to 14 months in federal prison and ordered to pay restitution of $243,540.85 and forfeiture of $79,850 by U.S. District Judge J. Campbell Barker on April 17, 2025.

    According to information presented in court, Lockett conspired with others to burglarize ATMs (automated teller machines) in the Smith County area.  On March 28, 2021, Lockett and Jermone Christopher Mayes, Jr., drove from Houston to Tyler to steal U.S. currency from ATMs in the area.  Using a Ford F-250 truck which had been stolen in Smith County, they attached chains to the truck and to an ATM at Chase Bank at South Southwest Loop 323 in Tyler.  The ATM was pulled open and approximately $159,700 was stolen.

    On January 29, 2025, Mayes was sentenced to 33 months in federal prison for his role in the conspiracy.

    This case was investigated by the FBI and the Tyler Police Department and prosecuted by Assistant U.S. Attorney Alan R. Jackson.

     

    ###

    MIL Security OSI –

  • MIL-OSI Security: Texarkana Federal Inmate Sentenced in Prison Methamphetamine Conspiracy

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

    TEXARKANA, Texas – A federal inmate man has been sentenced to additional time in federal prison for drug trafficking violations in the Eastern District of Texas, announced Acting U.S. Attorney Abe McGlothin, Jr.

    Jimmy Barrientos, 38, of Grand Prairie, pleaded guilty to conspiracy to distribute methamphetamine in prison and was sentenced to 100 months in federal prison by U.S. District Judge Robert W. Schroeder, III, on April 15, 2025.

    According to information presented in court, Barrientos, an inmate at the Federal Correctional Institution (FCI) in Texarkana, instructed Catherine Gamez to bring methamphetamine with her during prisoner visitation.  On September 25, 2022, Gamez brought a portion of a condom containing approximately 20 grams of actual methamphetamine into the federal prison when she came to visit Barrientos.  Once Gamez entered the visitation room, she hid the condom containing methamphetamine in the soap dispenser in the restroom of the visitation room at the prison. FCI personnel recovered the condom from the soap dispenser and provided it to federal law enforcement.  Gamez pleaded guilty to the same offense in 2024 and is awaiting sentencing.

    This case was investigated by the FBI’s Texarkana Field Office and prosecuted by Assistant U.S. Attorney James Noble.

    ###

    MIL Security OSI –

  • MIL-OSI Security: MEDIA ADVISORY: DHS and Country Star John Rich Team Up for Urgent Livestream about Protecting Kids from Online Predators

    Source: US Department of Homeland Security

    WASHINGTON — Wednesday night, Know2Protect — the national campaign dedicated to combating child exploitation and online threats — will host a high-impact livestream event featuring Department of Homeland Security Special Agent Dennis Fetting and country music star John Rich.

    Together, they will discuss how families and communities can better protect children from online predators—and what steps we can all take to stay informed and proactive.

    EVENT DETAILS

    WHAT: Livestream: Protecting Kids Online – A Conversation with John Rich & HSI 

    WHEN: Tuesday, April 23, 2025, 7:00 pm CT / 8:00 pm ET 

    WHERE: Watch on X @Know2Protect and @JohnRich 

    WHO: Hosted by Know2Protect with guests:

    • Special Agent Dennis Fetting, DHS Homeland Security Investigations
    • John Rich, Award-Winning Country Musician 

    MEDIA INVITATION

    Media are encouraged to:

    • Tune in and share the livestream with their audiences
    • Schedule post-event interviews with DHS and HSI leadership to dive deeper into the realities of online child exploitation and what law enforcement is doing to stop it

    To request interviews or additional information, please contact: Tanya Roman at 202-963-9738.

    Join the conversation. Share the message. Let’s unite to protect children from online predators. Together we can stop online child exploitation. Follow the countdown and event updates: @Know2Protect

    ###

    MIL Security OSI –

  • MIL-OSI: XRP News: XploraDEX Enters Day 2 of Token Distribution—Presale Still Open as Early Investors Rush to Join XRPL’s Smartest DEX

    Source: GlobeNewswire (MIL-OSI)

    ZURICH, Switzerland, April 23, 2025 (GLOBE NEWSWIRE) — The second day of $XPL Token distribution is underway, and momentum is only accelerating. As wallets across the XRP community continue to receive their allocations, a final wave of investor activity is sweeping into the XploraDEX presale window—still open for a limited time.

    After kicking off its token distribution just 24 hours ago, XploraDEX has triggered a new surge of excitement across social media, wallet trackers, and trading circles. With over 76% of $XPL tokens already allocated, this moment marks the final phase of the presale and the official transition into XRPL’s first live AI-powered DEX ecosystem.

    Buy $XPL Token Now

    While early adopters are already seeing tokens in their wallets, new investors still have time to join at presale pricing—but not for long. This is the last stretch before $XPL lists on decentralized exchanges at a higher price point and staking, governance, and dashboard access go fully live.

    Here’s what’s happening today:

    • Batch 2 of $XPL token distribution is now in progress
    • Presale window remains open during the 7-day distribution phase
    • Thousands of wallets already activated for staking and governance
    • Community buzz and whale wallet activity continue to climb

    Participate in $XPL Presale

    XploraDEX isn’t just delivering tokens—it’s delivering access. The platform blends real-time AI insights with on-chain execution, giving users:

    • Automated trading strategies based on machine learning
    • Early access to Launchpad deals for new XRPL projects
    • Smart portfolio management and live performance alerts
    • Staking pools, rewards programs, and discounted trading fees

    With each day of distribution, the window to be early grows smaller. Traders joining now aren’t just buying into a vision—they’re gaining direct access to infrastructure already rolling out in real time.

    Join $XPL Presale

    Why this matters:

    Most projects wait until post-launch to deliver utility. XploraDEX is building in public—and distributing tokens while opening platform features step by step. Investors who secure $XPL during this window will have first-mover access to DeFi’s most intelligent trading protocol on XRPL.

    This is more than a presale update. It’s a countdown.

    Secure Your $XPL Tokens Before the Presale Closes: https://sale.xploradex.io

    Live Updates on Launch: Website | $XPL Token Presale | X | Telegram

    Contact:
    Oliver Muller
    oliver@xploradex.io
    contact@xploradex.io

    Disclaimer: This press release is provided by the XploraDEX. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.

    Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.

    Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3efe82bd-887c-4b49-99f2-7e444e3aee59

    The MIL Network –

  • MIL-OSI: XRP News: XenDex Presale Begins As XRP ETF Builds Momentum

    Source: GlobeNewswire (MIL-OSI)

    SYDNEY, April 23, 2025 (GLOBE NEWSWIRE) — XenDex is thrilled to announce the first AI-powered all-in-one decentralized exchange (DEX) built on XRP, combining non-custodial lending and borrowing, AI copy trading, and DAO governance in a single user-centric platform.

    Currently, excitement grows across the crypto industry amid increasing speculation of a pending XRP Spot ETF launch, a new decentralized finance project, XenDex is seizing the moment to reshape the XRP Ledger ecosystem.With XRP (which is designed for speed, scalability, and community participation) gaining mainstream attention once again and institutional capital eyeing the asset class, XenDex is poised to become a major infrastructure player on the XRP Ledger and is set to redefine how users trade, earn, and govern on-chain.

    Buy $XDX Token Now

    The new Ripple based platform is ready to offer its presale, ready to raise major funds in record time, the new XRP project has become the talk of the XRP community and investors are already jumping onboard, convinced XDX will deliver massive returns and position itself as XRP’s breakout altcoin by 2025.

    XenDex promotes itself as a transformative platform combining the power of Artificial Intelligence (AI) with an ultra-fast and low-fee XRP Ledger (XRPL).

    Join XenDex Presale

    XenDex has officially revealed its $XDX token presale will commence on April 22, 2025, offering early adopters first access to one of XRP’s most ambitious DeFi platforms to date. The $XDX token serves as the utility and governance currency powering all features across the XenDex ecosystem.

    The buzz around a potential XRP ETF approval has fueled optimism across the Ripple community. Institutional interest, growing liquidity, and infrastructure upgrades are aligning — and XenDex is launching at the perfect time to capture this surge in demand.

    Features of XenDex

    • Lending & Borrowing – Access liquidity or earn passive income via secure, smart contract-based loans.
    • AI Copy Trading – Automatically mirror top traders in real-time using our AI-powered copy engine.
    • Spot & Perpetual Trading – Trade instantly via an embedded AMM with zero custodial risk.
    • Liquidity Farming & Staking – Earn $XDX rewards for providing liquidity or staking tokens.
    • DAO Governance – Every $XDX token holder can vote on key upgrades, listings, and ecosystem decisions.
    • Cross-Chain Compatibility – Future support for Ethereum, BNB, Cardano, and more.

    Tokenomics at a Glance

    • Token Ticker: $XDX
    • Total Supply: 1,000,000,000
    • Presale Allocation: 300,000,000 XDX
    • Utilities: Governance, staking, platform fees, airdrops, and more.

    Buy XDX Tokens

    Smart contracts are currently undergoing comprehensive audits, and the platform will be fully non-custodial with transparent DAO-based governance. Early adopters participating in the presale will benefit from staking rewards, airdrops, and priority access to upcoming product launches.

    As the market looks toward a possible XRP ETF launch, projects like XenDex are building the infrastructure needed to support this wave of adoption. With its blend of automation, community empowerment, and high-speed execution, XenDex is positioning itself as the primary DeFi gateway for XRP-based assets.

    Join the Movement Now!

    Website: xendex.net
    Presale – https://xendex.net/presale/
    Telegram: t.me/XenDexCommunity
    Twitter/X: https://x.com/xendex_xrp

    Contact:
    Frank Richards
    Frank@xendex.net

    Disclaimer: This is a paid post provided by XenDex. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/60b77089-cac2-4335-91ba-8e81462cc098

    The MIL Network –

  • MIL-OSI Security: Upstate Man Sentenced to Federal Prison for Distributing Child Sexual Abuse Material

    Source: Office of United States Attorneys

    GREENVILLE, S.C. — Daniel Turner Widner, 26, of Roebuck, was sentenced to 15 years in federal prison for distributing child sexual abuse material. *

    Evidence presented at the sentencing hearing established that Widner was the moderator of an online chat group focused on the trading of child sexual abuse material. An undercover law enforcement officer infiltrated the group and posed as an 11-year-old girl. Widner sent the officer multiple images of child sexual abuse material. Believing he was chatting with a minor, Widner asked the undercover officer to be his girlfriend and to send him compromising pictures.

    Further investigation led authorities to discover Widner’s home address, and a search warrant was conducted. All of Widner’s electronic devices were seized and law enforcement found over 80,000 images of child sexual abuse material on his devices.

    Chief U.S. District Judge Timothy M. Cain sentenced Widner to 15 years’ imprisonment and lifetime supervised release.

    This case was investigated by the Department of Homeland Security, Office of Investigations. Assistant U.S. Attorney Bill Watkins prosecuted the case.

    This case was brought as part of Project Safe Childhood, a nationwide initiative designed to protect children from online exploitation and abuse. Led by the United States Attorneys Offices, Project Safe Childhood marshals federal, state and local resources to better locate, apprehend, and prosecute individuals who exploit children via the Internet, as well as identify and rescue victims. For more information, please visit www.projectsafechildhood.gov.

    ###

    NOTE: The term “child pornography” is currently used in federal statutes and is defined as any visual depiction of sexually explicit conduct involving a person less than 18 years old. While this phrase still appears in federal law, “child sexual abuse material” is preferred, as it better reflects the abuse that is depicted in the images and videos and the resulting trauma to the child. The Associated Press Stylebook also discourages the use of the phrase “child pornography.”

    MIL Security OSI –

  • MIL-OSI: WISeKey Expands Implementation of Digital Identity Solutions from Seychelles to Africa: Empowering Nations with Secure National ID Systems

    Source: GlobeNewswire (MIL-OSI)

    WISeKey Expands Implementation of Digital Identity Solutions from Seychelles to Africa: Empowering Nations with Secure National ID Systems

    Geneva, Switzerland – April 23, 2025 — WISeKey International Holding Ltd (“WISeKey”) (SIX: WIHN, NASDAQ: WKEY), a leading global cybersecurity, blockchain, and IoT company, today announces that following the successful implementation of “SeyID” in the Seychelles, it is extending proven digital identity solutions to other African nations to help them modernize and secure their national identification systems.

    Since 2022, WISeKey has collaborated with the government of Seychelles to launch SeyID, a comprehensive, secure, and user-friendly digital ID platform. Designed to integrate seamlessly with both public and private sector services, SeyID is now serving as a model for other African nations looking to establish or upgrade their national identity infrastructure.

    A Blueprint for Digital Transformation

    The SeyID platform leverages WISeKey’s trusted WISeID digital identity technology, which provides citizens with a mobile-accessible, secure virtual ID linked to key public services. These include healthcare, government portals, and the tourism industry, vital economic pillars for Seychelles.

    Through SeyID, citizens are able to complement their traditional physical ID cards with a virtual identity stored securely on their smartphones, making authentication easier and services more accessible. Tourists visiting Seychelles can also generate a digital Tourist ID using SeyID, which offers a frictionless digital experience while allowing visitors to access local services. This innovation has positioned Seychelles as a digital pioneer in the African region, providing a strong example of how national digital identity platforms can support economic growth and government efficiency.

    Scaling the Model Across Africa

    WISeKey is now in discussions with several African governments to replicate the SeyID model, tailoring it to meet local needs and regulatory frameworks. These next-generation digital ID solutions aim to:

    • Promote Financial Inclusion by enabling secure digital onboarding and Know Your Customer (KYC) compliance for banking services;
    • Streamline Public Administration by digitizing identity verification for social programs, healthcare, and education;
    • Enhance Tourism and Cross-Border Travel with digital tourist ID systems similar to that of Seychelles; and,
    • Protect Citizen Data with robust Swiss-grade cybersecurity and encryption.

    Use Cases: National Digital IDs as Catalysts for Economic Growth

    1. Digital Financial Services:
      A national digital ID allows unbanked populations to open bank accounts, access credit, and use mobile payment platforms securely, boosting participation in the formal economy and reducing reliance on cash.
    2. e-Government Services:
      Digital IDs facilitate efficient delivery of public services such as tax filing, business registration, land ownership verification, and social welfare programs, increasing transparency and reducing corruption.
    3. Agricultural Supply Chains:
      Farmers can register digitally to receive subsidies, track inputs, and access markets. This fosters trust, increases productivity, and reduces fraud in government support schemes.
    4. Healthcare Access:
      Verified digital IDs help in creating unified health records, ensuring that citizens receive timely, targeted, and secure healthcare, even across borders through regional interoperability.
    5. Job Market Activation:
      With a verifiable identity, citizens can access vocational training, apply for jobs online, and participate in gig economy platforms, driving workforce participation and economic inclusion.
    6. Entrepreneurship & Innovation:
      Startups and SMEs can benefit from streamlined licensing and easier access to investment through identity-based digital platforms, reducing bureaucratic delays and stimulating innovation.
    7. Tourism Growth:
      Digital tourist IDs simplify visa issuance, hotel check-ins, and tourist service access, creating a smoother visitor experience and increasing tourism revenues.
    8. Education & Youth Empowerment:
      Digital IDs allow students to enroll in programs, access e-learning platforms, and validate academic credentials, enhancing skills development for the digital economy.
    9. A Human-Centered, Privacy-First Approach

    WISeKey’s approach is grounded in respecting human dignity and data privacy. All identities created under its platforms are anchored in the OISTE.ORG Root of Trust, a globally recognized cryptographic trust model that guarantees sovereign control over digital identities.

    With the support of international development agencies and local governments, WISeKey is set to deliver customized digital ID solutions that are interoperable, future-proof, and aligned with international standards for data protection and digital governance.

    As Africa accelerates its digital transformation, WISeKey’s expansion beyond Seychelles marks a critical step in ensuring that secure, inclusive, and innovative identity solutions are at the heart of the continent’s technological and economic future.

    For more information, visit www.wisekey.com or follow WISeKey on LinkedIn and Twitter.

    About WISeKey

    WISeKey International Holding Ltd (“WISeKey”, SIX: WIHN; Nasdaq: WKEY) is a global leader in cybersecurity, digital identity, and IoT solutions platform. It operates as a Swiss-based holding company through several operational subsidiaries, each dedicated to specific aspects of its technology portfolio. The subsidiaries include (i) SEALSQ Corp (Nasdaq: LAES), which focuses on semiconductors, PKI, and post-quantum technology products, (ii) WISeKey SA which specializes in RoT and PKI solutions for secure authentication and identification in IoT, Blockchain, and AI, (iii) WISeSat AG which focuses on space technology for secure satellite communication, specifically for IoT applications, (iv) WISe.ART Corp which focuses on trusted blockchain NFTs and operates the WISe.ART marketplace for secure NFT transactions, and (v) SEALCOIN AG which focuses on decentralized physical internet with DePIN technology and house the development of the SEALCOIN platform.

    Each subsidiary contributes to WISeKey’s mission of securing the internet while focusing on their respective areas of research and expertise. Their technologies seamlessly integrate into the comprehensive WISeKey platform. WISeKey secures digital identity ecosystems for individuals and objects using Blockchain, AI, and IoT technologies. With over 1.6 billion microchips deployed across various IoT sectors, WISeKey plays a vital role in securing the Internet of Everything. The company’s semiconductors generate valuable Big Data that, when analyzed with AI, enable predictive equipment failure prevention. Trusted by the OISTE/WISeKey cryptographic Root of Trust, WISeKey provides secure authentication and identification for IoT, Blockchain, and AI applications. The WISeKey Root of Trust ensures the integrity of online transactions between objects and people. For more information on WISeKey’s strategic direction and its subsidiary companies, please visit www.wisekey.com.

    Disclaimer
    This communication expressly or implicitly contains certain forward-looking statements concerning WISeKey International Holding Ltd and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of WISeKey International Holding Ltd to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. WISeKey International Holding Ltd is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.

    This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and it does not constitute an offering prospectus within the meaning of the Swiss Financial Services Act (“FinSA”), the FinSa’s predecessor legislation or advertising within the meaning of the FinSA. Investors must rely on their own evaluation of WISeKey and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of WISeKey.

    Press and Investor Contacts

    WISeKey International Holding Ltd
    Company Contact: Carlos Moreira
    Chairman & CEO
    Tel: +41 22 594 3000
    info@wisekey.com     		 WISeKey Investor Relations (US) 
    The Equity Group Inc.
    Lena Cati
    Tel: +1 212 836-9611
    lcati@equityny.com

    The MIL Network –

  • MIL-OSI: Double Deposit Bonus. 100x Leverage. No KYC. Crypto Futures Trading Made Easy on BexBack.

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, April 23, 2025 (GLOBE NEWSWIRE) — With Bitcoin’s price fluctuating below $100,000, many analysts predict a prolonged period of high volatility in the crypto market. Holding spot positions may struggle to generate short-term profits in such conditions. As a result, 100x leverage futures trading has become the preferred tool for seasoned investors looking to maximize potential gains in this volatile market. BexBack Exchange is ramping up its efforts to offer traders unmatched promotional packages. The platform now features a 100% deposit bonus, a $50 welcome bonus for new users, and 100x leverage on cryptocurrency trading, providing exceptional opportunities for investors.

    Advantages of 100x Leverage Crypto Futures

    1. Amplified Profits: Control large positions with a small amount of capital, capturing more profits from market fluctuations.
    2. Low Capital Requirement: Participate in high-value trades with minimal investment, lowering the entry barrier.
    3. Increased Market Opportunities: Profit quickly from price fluctuations, especially in volatile markets.
    4. High Capital Efficiency: Leverage enables better use of your capital, expanding your investment potential.
    5. Profit from Both Up and Down Markets: Adapt to any market conditions, with opportunities to profit whether the market goes up or down.

    What Is 100x Leverage and How Does It Work?

    Simply put, 100x leverage allows you to open larger trading positions with less capital. For example:

    Suppose the Bitcoin price is $100,000 that day, and you open a long contract with 1 BTC. After using 100x leverage, the transaction amount is equivalent to 100 BTC.

    One day later, if the price rises to $105,000, your profit will be (105,000 – 100,000) * 100 BTC / 100,000 = 5 BTC, a yield of up to 500%.

    With BexBack’s deposit bonus

    BexBack offers a 100% deposit bonus. If the initial investment is 2 BTC, the profit will increase to 10 BTC, and the return on investment will double to 1000%.

    Note: Although leveraged trading can magnify profits, you also need to be wary of liquidation risks.

    How Does the 100% Deposit Bonus Work?
    The deposit bonus from BexBack cannot be directly withdrawn but can be used to open larger positions and increase potential profits. Additionally, during significant market fluctuations, the bonus can serve as extra margin, effectively reducing the risk of liquidation.

    About BexBack?

    BexBack is a leading cryptocurrency derivatives platform that offers 100x leverage on BTC, ETH, ADA, SOL, and XRP futures contracts. It is headquartered in Singapore with offices in Hong Kong, Japan, the United States, the United Kingdom, and Argentina. It holds a US MSB (Money Services Business) license and is trusted by more than 500,000 traders worldwide. Accepts users from the United States, Canada, and Europe. There are no deposit fees, and traders can get the most thoughtful service, including 24/7 customer support.

    Why recommend BexBack?

    No KYC Required: Start trading immediately without complex identity verification.

    100% Deposit Bonus: Double your funds, double your profits.

    High-Leverage Trading: Offers up to 100x leverage, maximizing investors’ capital efficiency.

    Demo Account: Comes with 10 BTC in virtual funds, ideal for beginners to practice risk-free trading.

    Comprehensive Trading Options: Feature-rich trading available via Web and mobile applications.

    Convenient Operation: No slippage, no spread, and fast, precise trade execution.

    Global User Support: Enjoy 24/7 customer service, no matter where you are.

    Lucrative Affiliate Rewards: Earn up to 50% commission, perfect for promoters.

    Take Action Now—Don’t Miss Another Opportunity!

    If you missed the previous crypto bull run, this could be your chance. With BexBack’s 100x leverage and 100% deposit bonus and $50 bonus for new users (complete one trade within one week of registration), you can be a winner in the new bull run.

    Sign Up Now on BexBack — Break the 100x Leverage and KYC Barriers, Get Double Deposit Bonus and $50 Welcome Bonus Instantly

    Website: www.bexback.com

    Contact: business@bexback.com

    Contact:
    Amanda
    business@bexback.com

    Disclaimer: This content is provided by BexBack. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.
    Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.
    Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    Photos accompanying this announcement are available at:

    https://www.globenewswire.com/NewsRoom/AttachmentNg/97e079f0-51fe-4aa5-b650-32ad25c0ed46

    https://www.globenewswire.com/NewsRoom/AttachmentNg/bbe9b29b-6864-4490-9a02-19682e29647f

    https://www.globenewswire.com/NewsRoom/AttachmentNg/938714d4-0d45-4127-8bbe-a1186c371fe9

    https://www.globenewswire.com/NewsRoom/AttachmentNg/899c3f9f-d215-4359-a869-2814e0aa694c

    The MIL Network –

  • MIL-OSI: EverGen Infrastructure Corp. Announces Private Placement of Common Shares and Entering Into of Share Purchase and Reorganization Agreement

    Source: GlobeNewswire (MIL-OSI)

    Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities Laws.

    VANCOUVER, British Columbia, April 23, 2025 (GLOBE NEWSWIRE) — EverGen Infrastructure Corp. (“EverGen” or the “Company”) (TSXV: EVGN) is pleased to announce that it has entered into a share purchase and reorganization agreement (the “Agreement”) on April 22, 2025, with Ask America, LLC (the “Purchaser”), an arm’s length limited liability company existing under the laws of New Jersey. Pursuant to the terms of the Agreement, the Purchaser has agreed to act as the lead investor in a private placement of common shares of the Company (“Common Shares”) for total gross proceeds of up to CAD$7,000,000 (the “Private Placement”). A copy of the Agreement will be accessible on the Company’s SEDAR+ profile at www.sedarplus.ca.

    Private Placement

    Pursuant to the terms of the Agreement, the Company intends to complete the Private Placement of up to an aggregate of 11,666,667 Common Shares at a price of $0.60 per Common Share with the Purchaser and other subscribers for total gross proceeds of up to CAD$7,000,000. In connection with the Private Placement, Purchaser has agreed to subscribe for and purchase 8,333,333 Common Shares in the Private Placement, for gross aggregate proceeds of CAD$5,000,000 (the “Share Purchase”) on the terms and conditions set forth in the Agreement. Upon execution of the Agreement, the Purchaser paid a deposit of CAD$1,800,000 to the Company for the Share Purchase, with the remaining CAD$3,200,000 to be paid by the Purchaser to the Company upon closing of the Private Placement. The Common Shares issued pursuant to the Private Placement will be subject to a four month hold period. The Company anticipates using the proceeds of the Private Placement for working capital and general corporate purposes.

    Pursuant to the terms of the Agreement, subject to and concurrent with the closing of the Private Placement, the majority of the executive officers and directors of the Company will resign and be replaced with a new management team consisting of Chase Edgelow as Chief Executive Officer, Ron Green as Chief Operating Officer, with Sean Hennessey continuing as Chief Financial Officer and a new board of directors of the Company (the “Board”) consisting of: Chase Edgelow, Varun Anand, Blake Almond, and Mischa Zajtmann (collectively, the “Change of Management”). The foregoing changes will constitute a “Change of Management” (as defined in the policies of the TSX Venture Exchange). The closing of the Private Placement may also result in the Purchaser becoming a new “Control Person” of the Company (as defined in the policies of the TSX Venture Exchange). The completion of the Private Placement and the Change of Management is expected to occur in early May 2025.

    It is also anticipated that, prior to closing of the Private Placement, 1,211,026 options, warrants and other equity settled incentive securities held by current and former members of the Company’s management and the Board will be surrendered for cancellation. Upon completion of the Private Placement, EverGen will have issued and outstanding up to 25,686,352 Common Shares (up to 25,806,225 Common Shares on a fully diluted basis).

    New Management Team & Board

    The new management team and board brings unparalleled knowledge of the Company and its assets, a focused strategy dedicated to improving operational efficiencies and cost structure, and a long-term vision to continue to grow EverGen into a highly strategic and valuable infrastructure platform.

    Chase Edgelow (Director & Chief Executive Officer): Brings a direct hands-on approach as co-founder and former CEO of EverGen, along with 20 years of financial and operational expertise in the energy and infrastructure sectors. He is the founding partner of Chase Capital, a private capital platform dedicated to investing in, advising and growing businesses with a focus on the circular economy and energy transition. He spent over a decade with Macquarie Group specializing in sourcing, structuring and managing private energy and infrastructure investments on behalf of Macquarie and other co-investment partners, in addition to providing traditional M&A, capital raising and advisory services for corporate clients. Holds a degree in Engineering Physics from Queen’s University and is a Chartered Financial Analyst (CFA) charterholder and Professional Engineer of Alberta (non-practising).

    Ron Green (Chief Operating Officer): An accomplished leader with over 30 years of experience in the energy & infrastructure sectors, specializing in operational excellence and team development. Proven track record of driving success in turnaround situations, with expertise in optimizing operations and aligning strategic incentives. Throughout his career, Mr. Green has held key executive roles, including CEO of Promeita Energy, Vice President of Rockwater Energy Solutions, Chief Operating Officer of Pure Energy Services Ltd., and Executive Vice President of Delaney Energy. In addition to his executive leadership roles, Mr. Green is a founding board member of Beyond Energy Services & Technology Corp, which he has guided from a start-up to a >$100m revenue business. He is a graduate of Queens University’s Executive Program and Northern Alberta Institute of Technology. With extensive experience in operational leadership and people management, he is a trusted expert in driving sustainable growth and value creation.

    Sean Hennessy (CFO): Sean is a chartered accountant with over 15 years of finance and accounting experience in the clean energy and infrastructure industries, which includes ten years at Altera Infrastructure (previously Teekay Offshore Partners), a global energy infrastructure group and a Brookfield Business Partners portfolio company. Sean obtained his Chartered Accountant designation at PwC New Zealand, where he worked in both the tax and assurance practices, before transitioning to Canada. He is experienced with financial reporting for public companies under both IFRS and US GAAP, on both the New York Stock Exchange and the Toronto Stock Exchange. Sean completed a Bachelor of Commerce and Administration (Accounting, Finance and Commercial Law) degree and a Bachelor of Science (Mathematics) degree at Victoria University of Wellington.

    Varun Anand (Director): Varun serves as the Outsourced Chief Investment Officer and representative of ASK America LLC. He brings over a decade of global investment experience across public and private markets, with a strong track record of identifying and executing high-quality infrastructure opportunities. An award-winning portfolio manager, Varun has developed particular expertise in the renewable energy sector, having invested extensively in both Canadian and international renewable energy assets. During his tenure at Starlight Capital, he led the investment in the Company’s IPO in 2021 and built one of its largest shareholder positions by 2022. Varun holds a Bachelor of Mathematics with a Finance specialization from the University of Waterloo and is a Chartered Financial Analyst (CFA).

    Blake Almond (Director): Blake has 17 years of experience in M&A and private & public capital markets including 8 years focused on organics, bioenergy and other circular economy infrastructure assets. He spent 10 years with Macquarie Capital in Sydney where he executed M&A and public & private capital markets deals in bioenergy and natural resources. Today he leads the financial advisory business Circ Partners where he advises global infrastructure private equity funds and industrial sponsor clients on circular economy infrastructure investments. Notably, while at Macquarie Capital, Blake advised on cross-border M&A transactions between Canada and Australia including Viterra Inc on the A$1.6bn acquisition of ABB Grain Ltd and Eldorado Gold Corporation on the A$2.1bn acquisition of Sino Gold Mining Limited. Blake is a Member of the Australian Organics Recycling Association (AORA) and the Waste Management and Resource Recovery Association of Australia (WMRR).

    Mischa Zajtmann (Director): Mischa has 15 years of experience providing consulting and executive management expertise for Canadian and American listed companies in the resource sector with projects in South America, Africa, and Asia. He is a co-founder of EverGen. Mischa was a corporate securities lawyer who began his career at Blake, Cassels & Graydon LLP, focused primarily on corporate securities transactions, including M&A and corporate finance. He has advised both purchasers and target companies in a wide variety of M&A transactions—including issuers listed on the Toronto Stock Exchange and TSX Venture Exchange and underwriters, in connection with public offerings and private placements of equity securities, regulatory compliance, and general corporate and commercial matters. Mischa has a Juris Doctor Degree from the University of Saskatchewan Law School and is a member of the British Columbia Bar.

    Corporate Strategy

    With a strengthened balance sheet following the private placement and the appointment of the new management team and board, EverGen is strategically positioned to unlock substantial shareholder value. The Company’s immediate focus is on driving operational excellence, enhancing capital efficiency, and establishing a foundation for scalable growth through the following key pillars:

    Operational Excellence to Maximize Returns: Deployment of performance-driven systems and accountability frameworks across core facilities to drive margin expansion and operational reliability.

    Cost Optimization and Capital Discipline: Allocation of capital to high-impact optimization projects aimed at reducing operating volatility and improving unit economics. Overhead will be streamlined, and opportunities to lower financing costs will be actively pursued to reinforce a lean, agile cost structure.

    Strategic Growth: Upon stabilization of core operations, the Company will leverage industry relationships and execution capabilities to re-initiate disciplined project development and pursue accretive partnership opportunities that support long-term growth and shareholder value creation.

    Shareholder and Stock Exchange Approvals

    Completion of the Private Placement and the Change of Management is subject to approval of the TSX Venture Exchange and disinterested holders of Common Shares holding more than 50% of the Common Shares giving consent to the Private Placement and the Change of Management, in accordance with the policies and requirements of the TSX Venture Exchange by executing a written consent (the “Shareholder Written Consent”).

    EverGen Board Approval and Recommendation

    EverGen previously announced on February 28, 2025 that the Board formed a special independent committee (the “Special Committee”) to evaluate and review potential strategic transactions with the goal of maximizing value for EverGen shareholders and other stakeholders of the Company. Based on the recommendation of the Special Committee, the Board has unanimously approved the Agreement and the Private Placement and has determined that the completion of the Change of Management and the Private Placement is in the best interests of EverGen. The Board recommends that the EverGen shareholders execute the Shareholder Written Consent. Any EverGen shareholder wishing to obtain and execute the Shareholder Written Consent should contact EverGen as set forth below.

    About EverGen Infrastructure Corp.

    EverGen, Canada’s Renewable Natural Gas Infrastructure Platform, is combating climate change and helping communities contribute to a sustainable future. Headquartered on the West Coast of Canada, EverGen is an established independent renewable energy producer which acquires, develops, builds, owns and operates a portfolio of Renewable Natural Gas, waste to energy, and related infrastructure projects. EverGen is focused on Canada, with continued growth expected across other regions in North America and beyond.

    For more information about EverGen Infrastructure Corp. and our projects, please visit www.evergeninfra.com.

    About ASK America LLC

    ASK America LLC is backed by a multi-generational U.S. family office with several decades of investment experience across a broad spectrum of asset classes. The family office has amassed substantial assets under management, fueled by the success of its wholly owned consumer products business as well as the consistent growth of its investment portfolio. Through ASK America LLC, the group brings a combination of operational acumen and patient, long-term capital to its partnerships, with a steadfast commitment to fostering sustainable growth and delivering superior risk-adjusted returns.

    Cautionary Statements Regarding Forward Looking Information

    This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “will”, “estimates”, “believes”, “intends” “expects” and similar expressions which are intended to identify forward-looking information or statements. More particularly and without limitation, this press release contains forward looking statements and information concerning: the completion of the Private Placement and the terms thereof, including the issuance of Common Shares, the completion of the Change of Management, the acceptance of the TSX Venture Exchange of the Private Placement and the Change of Management, the offering price of the Common Shares, the cancellation of certain options, warrants and other equity settled incentive securities of the Company, and receipt of the Shareholder Written Consent. EverGen cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of EverGen, including expectations and assumptions concerning EverGen, the Private Placement, the Change of Management, the timely receipt of all required TSX Venture Exchange, shareholder and regulatory approvals and exemptions (as applicable, including the Shareholder Written Consent) and the satisfaction of other closing conditions. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of EverGen. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

    The forward-looking statements contained in this press release are made as of the date of this press release, and EverGen does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.

    This press release is not an offer of the securities for sale in the United States. The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”)) or any U.S. state securities laws and may not be offered or sold in the United States absent registration or an available exemption from the registration requirement of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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

    Contacts
    EverGen Infrastructure Corp.
    Co-founder & Chief Executive Officer
    Mischa Zajtmann
    604-202-7004
    mischa@evergeninfra.com 

    The MIL Network –

  • MIL-OSI Asia-Pac: Foreign Minister Lin and Tuvaluan Deputy Prime Minister Nelesone witness signing of agreements on labor cooperation and seafarer training and certification

    Source: Republic of China Taiwan

    Foreign Minister Lin and Tuvaluan Deputy Prime Minister Nelesone witness signing of agreements on labor cooperation and seafarer training and certification

    Date：2025-04-16
    Data Source：Department of East Asian and Pacific Affairs

    April 16, 2025  
    No. 097  

    Minister of Foreign Affairs Lin Chia-lung met with a Tuvaluan delegation led by Deputy Prime Minister and Minister of Finance and Economic Development Panapasi Nelesone and his wife, Madame Corinna Laafai, at the Taipei Guest House on April 15. Together, they witnessed the signing of two bilateral agreements—one on labor cooperation and another on the recognition of training and certification of seafarers. These agreements, which were signed respectively by Minister of Labor Hung Sun-han and Minister of Transportation and Communications Chen Shih-kai for Taiwan and by Minister of Foreign Affairs, Labour and Trade Paulson Panapa for Tuvalu, aim to deepen bilateral exchanges and cooperation in such domains as labor affairs, fisheries, and seafarer certification. 

    Following the signing ceremony, Minister Lin hosted a banquet for the delegation at the Taipei Guest House. In his speech, he warmly welcomed them and thanked the government of Tuvalu for its long-standing and unwavering support of Taiwan’s international participation, including speaking up for Taiwan at major international events. Minister Lin expressed special appreciation to the Ministry of Labor (MOL) and the Ministry of Transportation and Communications (MOTC) for coordinating with the Ministry of Foreign Affairs (MOFA) to facilitate the signing of the two agreements. He indicated that they bolstered Taiwan-Tuvalu cooperation and marked the concrete implementation of the Diplomatic Allies Prosperity Project under the policy of integrated diplomacy. He also noted that they aligned with the concept of every ministry serving as a foreign ministry and every citizen as a diplomat. Minister Lin emphasized that MOFA had actively consolidated the diverse capabilities of government agencies and civil society, leveraging overall national strength to enhance cooperation between Taiwan and its diplomatic allies. Moving forward, he pledged to work hand in hand with the government of Tuvalu to expand exchanges across a variety of domains to promote economic prosperity and the well-being of the peoples of both countries. 

    Speaking at the banquet, Deputy Prime Minister Nelesone stated that in 46 years as diplomatic allies, Taiwan and Tuvalu had jointly responded to numerous challenges and created myriad opportunities for close cooperation in such areas as health care, agriculture, education, and basic infrastructure. He affirmed that the two nations had built a diplomatic alliance founded on freedom and democracy, adding that they shared strong bonds and were like family. On behalf of the government and people of Tuvalu, he sincerely thanked Taiwan for its long-term support of his nation’s development and reaffirmed Tuvalu’s staunch commitment to backing Taiwan’s international participation. He expressed the hope that both countries would continue working together to advance their diplomatic partnership, setting an example for the world.

    Guests at the banquet included Deputy Minister of Health and Welfare Lin Ching-yi; Acting Director General of the MOL Workforce Development Agency Chen Shih-chang; Deputy Director General of the Ministry of Agriculture Fisheries Agency Lin Ding-rong; Director General of the MOTC Maritime and Port Bureau Yeh Hsieh-lung; Secretary General of the International Cooperation and Development Fund Huang Yu-lin; and representatives from the business sector. Participants exchanged views on a wide range of issues, including health care, climate change adaptation, and agricultural and fisheries cooperation. (E)

    MIL OSI Asia Pacific News –

  • MIL-OSI United Kingdom: Council scores highly in data protection review

    Source: City of Derby

    Derby City Council has been officially recognised for its hard work to keep residents’ and customers’ data safe.

    During a recent routine audit, the Information Commissioner’s Office (ICO) – the Government body which makes sure organisations comply with data protection law – praised the Council for its high assurance ratings in keeping resident’s data secure.

    The ICO assesses potential risks to data security and the likely impact, considering an organisation’s structure, concerns raised by the ICO or the Council, and risks which affect the sector more widely.

    The recent audit focused on three areas: governance and accountability, cyber security, and personal data breach management and reporting.

    Commenting on the personal data breach management and reporting category, the report noted:

    Derby City Council has demonstrated a strong communication structure with IG (Information Governance) being communicated through multiple channels with effective messaging. This has led to a strong privacy culture, as demonstrated through staff engagement in drop-in sessions and the volume of queries received by the IG team.

    Councillor Kathy Kozlowski, Cabinet Member for Governance and Finance said:

    Ensuring that our resident’s and customer’s data is kept safe and secure is very important to us and I’m pleased that the ICO’s recent audit reflects our commitment to excellence in this area.

    A big thank you to all our colleagues who work hard to ensure that the appropriate processes and practices are in place and followed correctly. Our teams are reviewing the feedback and looking at areas for further improvement to ensure that we can maintain these high standards.

    Our residents can be confident that the information that they share with us is shared in confidence.”

    Several recommendations were also made to support the Council to improve their practices. These are being reviewed by the Council’s Information Governance team and will be implemented over the coming months.

    The full report is available to view on the Information Commissioner’s Office website.

    MIL OSI United Kingdom –

  • MIL-OSI: Premium Global Income Split Corp. Announces Successful Overnight Offering of Preferred Shares and Class A Shares

    Source: GlobeNewswire (MIL-OSI)

    Not for distribution to U.S. newswire services or for dissemination in the United States.

    TORONTO, April 23, 2025 (GLOBE NEWSWIRE) — (TSX: PGIC.PR.A; PGIC) – Premium Global Income Split Corp. (the “Fund”) is pleased to announce a successful overnight treasury offering of 2,100,000 Preferred Shares and 2,100,000 Class A Shares for gross proceeds of approximately $35,175,000. The Preferred Shares and Class A Shares will continue to trade on the Toronto Stock Exchange (the “TSX”) under the existing symbols PGIC.PR.A and PGIC, respectively.

    The offering is expected to close on or about April 30, 2025, and is subject to certain closing conditions including approval by the Toronto Stock Exchange (“TSX”). The Preferred Shares were offered at a price of $10.35 per Preferred Share and the Class A Shares were offered at a price of $6.40 per Class A Share.

    The Fund invests in a diversified portfolio of primarily large capitalization global equity securities actively selected by the Manager. To generate additional returns above the dividend income earned on the Fund’s portfolio, the Fund will selectively write covered call and put options in respect of some or all of the common shares in the Fund’s portfolio. The manager and investment manager of the Fund is Mulvihill Capital Management Inc.

    The Preferred Shares pay fixed cumulative preferential monthly cash distributions in the amount of $0.0625 per Preferred Share representing a yield of 7.50% on the original issue price of $10.00. The Class A Shares pay monthly cash distributions targeted to be 12% per annum based on the initial $8.00 net asset value per Class A Share.

    The syndicate of agents for the offering was co-led by National Bank Financial Inc., CIBC Capital Markets, RBC Capital Markets and Scotiabank.

    For further information, please contact Investor Relations at 416.681.3966, toll free at 1.800.725.7172, email at info@mulvihill.com or visit www.mulvihill.com.

    A short form base shelf prospectus containing important detailed information about the securities being offered has been filed with securities commissions or similar authorities in each of the provinces of Canada. Copies of the short form base shelf prospectus may be obtained from a member of the syndicate. The Fund intends to file a supplement to the short form base shelf prospectus and investors should read the short form base shelf prospectus and the prospectus supplement before making an investment decision. 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.

    You will usually pay brokerage fees to your dealer if you purchase or sell shares of the investment fund on the TSX. If shares of the Fund are purchased or sold on the TSX, investors may pay more than the current net asset value when buying shares of the investment fund and may receive less than the current net asset value when selling them.

    There are ongoing fees and expenses associated with owning shares of an investment fund. An investment fund must prepare disclosure documents that contain key information about the fund. You can find more detailed information about the investment fund in these documents. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated. The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy securities nor will there be any sale of such securities in any state in which such offer, solicitation or sale would be unlawful.

    John Germain, Senior Vice-President & CFO                      Mulvihill Capital Management Inc.
    121 King Street West
    Suite 2600
    Toronto, Ontario, M5H 3T9
         

    The MIL Network –

  • MIL-OSI Global: US universities lose millions of dollars chasing patents, research shows

    Source: The Conversation – USA – By Joshua M. Pearce, John M. Thompson Chair in Information Technology and Innovation and Professor, Western University

    Every year, American universities spend millions of dollars patenting inventions developed on their campuses. Big names such as Stanford and the University of California system lead the pack in patent activity, but hundreds of other universities are also trying to strike gold by monetizing intellectual property. The idea is simple: By investing in patents and selling or licensing them to industry, the university will profit.

    But in practice, this strategy rarely pays off.

    Indeed, the results of a recent study I conducted using full-cost accounting shows the average American research university is losing millions of dollars on patents annually. One school I examined as a case study lost a staggering $9 million on intellectual property investments in one year.

    These findings come at a critical moment. Universities across the U.S. are under serious financial strain and at risk of losing federal funding under the current administration. Speaking as an engineer and innovation expert, I believe universities can no longer afford to be losing money on schemes meant to generate revenue.

    How universities got into the patent business

    The current system was born out of the 1980 Bayh-Dole Act, which standardized federal policy to encourage university grant recipients to patent their inventions. The goal was to commercialize taxpayer-funded research and to make universities money in the process.

    One result was the rapid expansion of technology transfer offices at universities across the country. These offices are designed to support the commercialization of academic research and development.

    On the surface, this strategy might seem promising. Years of data from the Association of University Technology Managers, which surveys tech transfer offices, suggested large, growing revenues from licensing intellectual property.

    But there’s a major caveat: It costs money for a university to do all this, and the association’s figures don’t take all of those costs into account. They exclude big expenses such as the costs of running technology transfer offices and litigation. When these are included, previous research has shown, just under half of the tech transfer offices pay for themselves.

    And even these analyses are incomplete, as they ignore the opportunity costs to faculty participating in the time-consuming patenting process. After all, every hour a professor spends on patenting is an hour not spent writing grant proposals.

    This raises a crucial question: Do university investments in patenting, taking into account all the costs, actually deliver a positive return on investment?

    To answer this, I developed a formula to determine exactly how much universities spend in patenting, including the costs of faculty time. I then applied that formula to an average R1 research university − about halfway down the list of annual National Science Foundation funding − using real numbers.

    The hidden cost of faculty time

    For the case study university, I found that every single cost category exceeded the intellectual property-related income. The opportunity cost for writing patents instead of grants was more than 33 times the income realized.

    This means that the average U.S. university is literally losing millions of dollars pursuing patents. Research universities could increase research income by simply ignoring intellectual property entirely.

    Using this full-cost accounting method is something university administrators would be wise to consider in their decision-making, given the real opportunity costs of faculty time.

    Administrators may argue that because faculty are salaried, there’s no additional cost to making them spend time writing patents. But this ignores reality: Faculty are among the university’s most productive assets. They generate income through tuition and research grants. Their time isn’t free − and using it inefficiently can come at a steep cost.

    My study looked only at one university that happens to have a very high invention disclosure rate and would, if viewed from afar, seem to be doing really well on intellectual property investment. When all costs are accounted for the university, it becomes apparent that its intellectual property policy is causing the school to hemorrhage money.

    The easy-to-follow methodology I set up can be used by any university to determine its intellectual property’s real return on income. Each university will be slightly different, but for the vast majority, the return on investment will be strongly negative.

    As the costs of university education become increasingly challenging for many Americans, I think it’s time to take a hard look at university “investments” in technology transfer with a negative return.

    Joshua M. Pearce has received funding for research from the Natural Sciences and Engineering Research Council of Canada, the Canada Foundation for Innovation, Mitacs, the U.S. Department of Energy and the Advanced Research Projects Agency-Energy, U.S. Department of Defense, The Defense Advanced Research Projects Agency, and the National Science Foundation. His past and present consulting work and research is funded by the United Nations, the National Academies of Science, Engineering and Medicine, and many companies in the energy and solar photovoltaic fields. He does not have any direct conflicts of interest.

    – ref. US universities lose millions of dollars chasing patents, research shows – https://theconversation.com/us-universities-lose-millions-of-dollars-chasing-patents-research-shows-244270

    MIL OSI – Global Reports –

  • MIL-OSI Global: VAT hikes can raise tax without hurting the poor: an economist sets out the evidence

    Source: The Conversation – Africa – By Imraan Valodia, Pro Vice-Chancellor, Climate, Sustainability and Inequality and Director, Southern Centre for Inequality Studies, University of the Witwatersrand

    South Africa’s 2025-6 budget has been subjected to more comment than usual. This is due to the political tensions generated by a proposed increase in value added tax (VAT).

    South Africa’s choices on how it manages the revenue and expenditure issues in the budget are critical for how the larger issues of the country’s debt and its economic policies are handled. As things stand, the economy is locked into a low-growth trajectory which make the debt, revenue and expenditure issues more difficult to deal with.

    This piece draws on a longer article which explores these issues in greater detail. Here, I focus only on the VAT issue.

    The finance minister originally tabled an increase of 2 percentage points, then changed it to 0.5 percentage points. Still, it is threatening to end the country’s government of national unity, which was set up after elections in 2024.



    Read more:
    South Africa’s finance minister wanted to raise VAT: the pros and cons of a tricky tax

    Most commentators, including the political parties that have opposed the proposal, many academics, and non-governmental organisations claiming to represent low-income groups, have argued that an increase in VAT places an undue burden on low-income groups. This would make it regressive.

    Based on work as an academic economist over the past three decades, I believe that the debate has been based largely on conjecture and ideological opposition to VAT, rather than on the evidence of its impact.

    This is a pity as there is empirical evidence rooted in research that a VAT increase is, in fact, not regressive and is therefore a good policy decision.

    Tax experts usually refer to the three Es in taxes – equity, efficiency and ease of administration – for evaluating tax policy proposals. New taxes should ideally promote equity (they should be progressive and not regressive), be efficient and be easy to administer.

    An increase in VAT in South Africa ticks all these boxes.

    First, contrary to what many commentators have been arguing, VAT isn’t always regressive – it depends on how it’s implemented. As proposed by the finance minister it would not be regressive because, while it would add to the burden of low-income households, most of the VAT would be collected from higher-income households. Added to this is that the proposed expansion of the existing list of zero-rated items would protect the lowest-income households.

    Second, VAT is a very efficient tax. For relatively low increases in the rate, government is able to raise a large amount of revenue.

    Finally, the system is easy to administer and adds very little cost to collection.

    Key to its efficacy is the way VAT is implemented, including the choice of products to zero rate, and the political credibility of government.

    The case for a VAT increase

    VAT is a consumption tax, so it only affects the income that a household consumes.

    According to the International Monetary Fund (IMF), VAT is now the mainstay of tax systems in over 160 countries, raising on average one-third of total government revenues.

    In theory, there are good reasons to be concerned about the impact of VAT. First, it can place a high burden on low-income households because they spend a large proportion of their incomes on consumption goods such as food.

    Second, VAT may also place a heavy burden of tax on women. In South Africa and many other countries, women-led households tend to be clustered in the lower end of the income distribution. And women disproportionately take responsibility for feeding and caring for family members.

    So, at least in theory, VAT is a regressive tax. But is it really so in practice?

    Three studies that have explored this issue in some detail have concluded that, in South Africa, VAT is not regressive.

    In 2008, I worked with colleagues in eight countries (South Africa, Ghana, Uganda, Morocco, Mexico, Argentina, India and the United Kingdom) on the gender issues related to tax. In particular we looked at the burden of VAT on low-income and women-headed households.

    Our findings were that, in general, VAT is regressive and discriminates against women, but it depends on how it is implemented.

    In South Africa, the zero-rating of basic consumption goods is very effective, protecting low-income and female-headed households from VAT. It’s an example of a VAT system that is neutral – neither regressive nor progressive.

    A more recent study by South African economist Ingrid Woolard and colleagues reached a similar conclusion in 2018.

    A third study was done in the same year when VAT was increased from 14% to 15%. Following a similar emotive debate, the finance minister appointed an independent committee which I served on and which was chaired by Woolard, to advise on further zero-rating.

    Our conclusion – again – was that zero-rating is highly effective at protecting low-income groups from the deleterious effects of VAT.

    How it’s done matters

    The challenge with zero-rating is that while low-income households benefit, high-income households benefit more (because they spend more, in absolute terms, on zero-rated goods). Large amounts of potential VAT revenue are lost to high-income groups that don’t need protection.

    The trick is to find a basket of goods that low-income households consume a lot of, but which high-income households don’t consume in large quantities. Some typical examples are beans, canned pilchards and cabbage. These are all goods that low-income households consume and high-income households do not.

    National Treasury’s proposals for increasing the basket of goods to be zero-rated are based on solid research.

    A good example of the trade-offs to consider is the case of chicken. Chicken is an important source of protein for low-income households, but also for high-income households. So, if all chicken were zero-rated, this would protect poor households, but a large amount of VAT revenue would be lost.

    In our 2018 zero-rating report, at 2018 prices and consumption patterns, we calculated that zero-rating all chicken products would be equivalent to R1.3 billion (US$67.6 million) but government would lose R4.6 billion (US$244.4 million) to high income households.

    Not a good trade-off.

    However, some chicken products, such as chicken heads and feet, are mostly consumed by low-income groups, and are therefore good candidates for zero-rating.

    The two other Es – efficiency and ease of administration – of taxes are also key to consider.

    On these two considerations, VAT has big advantages.

    It’s very difficult to avoid or evade VAT because it’s collected along the chain of production. There’s evidence that South Africa has very little leakage in the system.

    So it is relatively easy to increase the VAT rate without needing to invest additional resources to collect the tax.

    Credibility is key

    Apart from the economic considerations, tax policy has to be politically credible. People should believe that their tax contributions are being used effectively, and government should be seen to be acting in line with this.

    If people don’t believe in government’s ability to spend wisely, resistance to taxes increases. Then tax avoidance and evasion increases.

    It would be fair to say that, with the high levels of corruption in South Africa’s political system, government’s credibility is low.

    Thus, if VAT is to be increased, government has to do a lot more to improve its credibility and reassure South Africans that the tax revenues will be well spent.

    Imraan Valodia receives funding from a number of foundations and governments that support academic research.

    – ref. VAT hikes can raise tax without hurting the poor: an economist sets out the evidence – https://theconversation.com/vat-hikes-can-raise-tax-without-hurting-the-poor-an-economist-sets-out-the-evidence-254213

    MIL OSI – Global Reports –

  • MIL-OSI Africa: Deputy President calls for transparency, inclusivity in SA’s budget process

    Source: South Africa News Agency

    Deputy President Paul Mashatile has emphasised the importance of collaborative action and transparency in shaping South Africa’s fiscal future. 

    “We have learnt that the current budgetary process is not transparent and inclusive enough, making it difficult for citizens to understand how government goes about the process of taking some of the most critical decisions in allocation of resources, albeit limited resources because of the competing needs,” Masahtile said. 

    Speaking during a virtual address at the 2025 Budget Roundtable, held at the Financial and Fiscal Commission (FFC) offices in Cape Town, on Wednesday, the Deputy President emphasised the need to revisit the concept of a “people’s budget” advocated by anti-apartheid activists, the late Ben Turok and Joanamarrie Fubbs. 

    “What this means is that we need fiscal planning that is inclusive from the start, in terms of the Medium-Term Expenditure Framework and in line with government’s priorities,” he explained.

    “In this case, the budget process as part of fiscal planning must focus on how we address the issues of poverty, unemployment, and inequality specifically.” 

    The country’s second-in-command highlighted the necessity for the budget to reflect fairness and equity, ensuring that vulnerable sectors are not overlooked in the planning process.

    The Deputy President also stressed the critical role of the National Budget as the government’s primary tool for translating policy into action. 

    He noted the historic context of this year’s budget process, highlighting the unprecedented postponement of the Budget Speech, and the subsequent adoption of the 2025 Fiscal Framework and Revenue Proposals by the National Assembly this month. 

    The Deputy President told the attendees about the Cabinet Committee’s formation, which he chairs, tasked with addressing the contentious proposal from the Minister of Finance regarding a VAT increase. 

    The Deputy President acknowledged that, in contrast to other governments around the world that have collapsed due to fiscal disputes, South Africa successfully navigated the challenges and he believesthis underscores South Africa’s strong democracy that is functioning effectively. 

    “Government remains committed to expanding economic growth while improving the quality of life for all citizens.” 

    The Deputy President said equitable resource allocation was particularly timely as South Africa grapples with economic disparities. 

    “Public allocations should be fair, just, and available to all citizens,” he said, reinforcing the government’s commitment to serving all members of society.

    As the budgeting process continues with the looming deadlines for the Division of Revenue Bill and the Appropriation Bill in May and June, Mashatile reiterated the importance of thoughtful engagement and transparent decision-making. 

    He acknowledged the challenges of balancing competing needs, but maintained that, through diligence and collaborative effort, government can chart a path toward a more equitable socio-economic landscape.

    The Deputy President described the 2025 Budget Roundtable as a pivotal moment for shaping a more equitable future. 

    He also touched on another important task that requires fiscal planning and implementing financial strategies to achieve specific economic goals, which is often related to debt management, government spending, and tax policies. 

    This includes considering factors, such as interest rates, economic growth, and structural reforms to ensure a stable and transparent macroeconomic environment. 

    “The goal here is to create a sustainable fiscal position that supports economic growth and manages risks effectively.” – SAnews.gov.za

    MIL OSI Africa –

  • MIL-OSI Africa: SIU updates SCOPA on SABC investigations

    Source: South Africa News Agency

    Head of the Special Investigating Unit (SIU) Advocate Andy Mothibi says there is a need for a focussed and pointed approach to prevent fraud and corruption at the SABC.

    Mothibi was briefing Parliament’s Standing Committee on Public Accounts (SCOPA) on investigations into the public broadcaster on Wednesday.

    The investigations stem from at least two proclamations from 2010 and 2017.

    Over the past few years, the public broadcaster has been rocked by scandal, including the irregular R11 million “success fee” paid to then SABC Chief Operating Officer Hlaudi Motsoeneng, irregular expenditure running into billions of Rands, the controversial R2.4 million Legends Payments and investigations into at least eight contracts, including the sale of SABC archives to MultiChoice.

    “We…are of the view that we need a focussed approach to come up with a focussed prevention plan that will assist the corporation going forward. I have spoken to the current GCEO [Nomsa Chabeli] and we are seeking to ensure that the process gains momentum speedily.”

    The SIU, said Mothibi, wants to see an overall prevention plan implemented.

    The head of the corruption-busting unit described the investigations into the SABC as “intense” and same as the approach which was applied to investigations into other state organs.

    “We have taken the approach that we did at SABC…to do a deep dive in terms of governance investigation and maladministration at all the state institutions that we are investigating particularly the SOEs,” Mothibi said.

    During the presentation, SIU Chief National Investigations Office, Zodwa Xesibe, fleshed out some of the issues unearthed at the public broadcaster including:

    • Bypassing of existing policies and procedures by the Board and senior managers, which led to the financial woes at the SABC.
    • There was a general abuse of power at the SABC by the Board and senior managers, which promoted unethical behaviour and caused a variety of problems.
    • Controls were repetitively bypassed through management override, collusion or abuse of power between those in power, or inaction and passiveness from other officials.

    “The SABC should return to a culture that encourage honest discussions surrounding ethics and ethical challenges with one another and their managers, to allow ethical behaviour.

    “Employees should be empowered by explaining what constitutes unethical behaviour and what the result of such can be on the Corporation. They should also know what their rights are and be encouraged to report such before it becomes a widespread problem,” she said.

    Protections for whistleblowers must also be provided to “encourage employees to report problems and…foster an organisation that is ethical from top to bottom”.

    “Changes should come from the management team by identifying the negative behaviours and substituting them with positive changes. This will allow for better ethical decisions, enforcement of policies and procedures amongst employees, and role-model ethical behaviour.

    “Zero tolerance action to abuse or non-compliance with internal controls should be prioritised, as this would address the culture of abuse and management override in the SABC,” Xesibe said. – SAnews.gov.za

    MIL OSI Africa –

  • MIL-OSI Africa: SA, Lesotho deepen bilateral cooperation at Bi-National Commission

    Source: South Africa News Agency

    President Cyril Ramaphosa says South Africa and Lesotho are making strides in cooperation on water resource management. 

    The President was delivering opening remarks at the occasion of the second session of the Lesotho-South Africa Bi-National Commission (BNC). 

    He highlighted the Lesotho Highlands Water Project as a good example of how two friendly countries can collaborate to the benefit of its peoples. 

    “As neighbours, we have great scope to deepen bilateral cooperation in many areas while maintaining political and economic engagements with all countries. It is our hope that Phase 2 of this project is completed soon,” the President said. 

    President Ramaphosa commended Lesotho’s ongoing efforts to advance the political and constitutional reform agenda.

    He said the relationship between the two countries is characterised by cooperation, good neighbourliness and a mutually beneficial relationship. 

    “This BNC mechanism needs to ensure that the 45 agreements and legal instruments that have been signed are fully implemented. We assemble in this session at a time of new global challenges and uncertainties. 

    “These challenges are not insurmountable. Working together, we should identify opportunities for progress in this rapidly changing environment,” President Ramaphosa said. 

    President Ramaphosa called for South Africa and Lesotho to work together in electricity generation and align both countries’ just energy transition agendas and projects. 

    “Energy security is critical for our two countries. It will play a major role in driving our manufacturing industries, powering our cities, towns and villages and enabling us to adapt to the demands of the new global economy. 

    “We need to redouble our efforts to establish bilateral and regional value chains that are sustainable and economically viable,” he said. 

    The President emphasised that both countries are endowed with mineral resources and must and must prioritise local beneficiation to maximize value.

    He underscored the need to develop strategies within the jurisdictions for critical and rare minerals, which continue to attract global interest.

    Simultaneously, he highlighted the importance of diversifying both countries’ product offerings and service sectors to drive sustainable economic growth.

    In this regard, President Ramaphosa said the establishment of logistics hubs, agro-processing facilities and data centres to support the emerging digital industry, are some of the opportunities that South Africa and Lesotho should harness. 

    “Lesotho hosts many South African companies and we appreciate the conducive environment in which these corporate entities operate. Investments by Basotho companies in the South African economy need to be further promoted.

    “We need to work together to harmonise measures for the movement of our respective citizens across our borders,” the President said. 

    Touching on immigration cooperation, President Ramaphosa said this can be strengthened in a manner that is effective and secure. 

    He called for both countries to address cross-border criminal activities that undermine the harmonious co-existence that both countries and peoples enjoy. 

    “Our respective authorities should remain seized with the threats posed by global organised crime, which fuels illegal mining, drug and human trafficking, arms smuggling, wildlife destruction, illicit financial flows and money laundering,” he said. 

    Moving to education, President Ramaphosa said cooperation in education is fundamental to the two countries’ shared future. 

    “We should make it easy for young Basotho pupils, who live a stone’s throw away from schools on the South African side, to be able to go to school. While this needs to be properly managed, bureaucratic impediments should not prevent the development of these young minds. 

    “South African institutions of higher learning host many Basotho students, who provide the skills and capacity needed by the Kingdom of Lesotho,” the President said. 

    President Ramaphosa recalled that during the days of apartheid,  children of exiled activists and young adults attended schools and institutions of learning in Lesotho. 

    He added that many of South African leaders attended the National University of Lesotho, famously known as Roma. 

    “It is therefore only fitting and proper that we enhance cooperation in the field of education. As South Africa undertook its transition to democracy and was grappling with the process of constitution making and state building, Lesotho was there to support us.

    “Now, as the Kingdom of Lesotho makes progress in its institutional reforms, we stand ready to share our experiences in areas such as strengthening the constitutional architecture, security sector reform, judicial capacity building and other areas of institutional development,” the President said. 

    He added that the two countries’ common heritage and shared destiny require that “we be united in purpose and work towards the upliftment of our peoples.” 

    “Let us work together as peace-loving nations – within SADC (Southern African Development Community), the African Union and the United Nations – to pursue a just global order founded on multilateralism, human rights and respect for international law. 

    “Let us strive together to reform global institutions so that they are inclusive and advance the interests of the Global South,” he said. 

    As the two heads of state opened the Session, President Ramaphosa applauded the Ministers and Senior Officials for their hard work, focus and commitment in preparing the report of this Commission. – SAnews.gov.za

    MIL OSI Africa –

  • MIL-OSI Africa: 2025 Africa’s Travel Indaba a one-stop marketplace

    Source: South Africa News Agency

    The 2025 Africa’s Travel Indaba is not just a trade show. It is a platform to reshape narratives, forge powerful connections and unlock shared value across the continent, says Tourism Minister Patricia de Lille.

    The highly anticipated 2025 Africa’s Travel Indaba was officially launched today at the iconic Moses Mabhida Stadium in Durban, under the theme: “Unlimited Africa”. 

    The event was led by the Minister, senior representatives from the KwaZulu-Natal Provincial Government and Tourism Authority, South African Tourism and the greater tourism sector – underscoring the strategic importance of tourism as a catalyst for inclusive growth.

    Africa’s Travel Indaba serves as a one-stop marketplace for discovering and sourcing a diverse range of African tourism products and experiences. 

    With over 297 unique offerings, 1 200 exhibitors from across 26 African countries and 908 vetted international buyers representing 55 global markets, the event provides tailored networking opportunities and pre-scheduled business to business meetings – already totalling 7 430 confirmed engagements. 

    Buyers gain unmatched access to curated, diverse, authentic, and emerging travel products for their customers.

    The department said exhibitors benefit from premium exposure to global tourism decision-makers. 

    With a completely sold-out exhibition floor, the event presents a high Return on Investment (ROI) environment for launching new products, forming strategic partnerships and entering new markets. 

    In 2024, over 24 000 business meetings took place at Africa’s Travel Indaba, helping transform ideas into deals and exposure into revenue. The platform also empowers SMMEs through mentorship, visibility and access to global buyers.

    The department unpacked some of the economic impact of the event:

     • R226 million in direct economic activity generated in Durban in 2024, with an additional R333 million across the KwaZulu-Natal province.

    • More than 1 000 jobs created through the event.

    • Empowered 120 tourism SMMEs to engage global buyers and media made possible through funding from the Department of Tourism’s Market Access Support Programme. 

    “We are even more excited about this year’s Africa’s Travel Indaba as it comes soon after we launched our new Global Campaign ‘South Africa Awaits – Come Find Your Joy!’ – a celebration of the country’s boundless energy, rich culture and extraordinary experiences,” said de Lille.

    “Our mission is to ensure that all visitors come find their joy across the length and breadth of South Africa and discover all our diverse tourism offerings and our hidden gems in every little town, dorpie and township.” 

    Sibusiso Ndebele, representing KZN Tourism and Film Authority, said this prestigious tourism exhibition is the perfect platform to showcase the destination’s offerings to the thousands of tourism buyers coming from all over the world who will be looking for exciting tourism destinations to sell and package to their customers. 

    “ATI also benefits our emerging tourism entrepreneurs who will have an opportunity to make valuable connections with the global trade that can to propel their tourism businesses to greater heights. 

    “Over the years, we have also spearheaded our Tourism Ambassador programme that gives tourism students opportunities to be on the frontline of tourism and play a pivotal role in welcoming our guests to KZN. We remain hopeful to host the event for the next few decades and make KwaZulu-Natal Africa’s Travel Indaba’s permanent home,” said Ndebele.

    Nkosenhle Madlala, Chairperson of Governance and Human Capital in the eThekwini Metro, said: “As we embark on our preparations for Africa’s Travel Indaba, we are not only celebrating our vibrant culture and stunning landscapes but also reaffirming our unwavering spirit and resilience. Durban stands ready to showcase our hospitality and commitment to excellence in the global tourism sector.”

    Some of the key highlights to look forward to at this year’s Africa’s Travel Indaba are as follows:

    • Business Opportunity Networking Day: Where ideas meet opportunity and emerging trends take shape.

    • AI and tech-focused sessions: Exploring how technology can enhance the tourism customer journey.

    • Cross-border Tourism Collaboration Forums: Supporting regional growth through collective marketing and shared offerings.

    • 12 Independent Airlines and an Airline Pavilion: Boosting air access and route development across Africa.

     With the G20 Summit being hosted in South Africa, on African soil for the first time this year, Africa’s Travel Indaba also sets the stage for positioning the continent as a leading player in global tourism dialogue and as a leader in hosting major events and conferences. 

    “Tourism is not a side act in our economic story – it is centre stage. We invite all delegates to come experience the might of the African continent’s tourism sector while enjoying South Africa’s hospitality in the province of Kwa Zulu-Natal. South Africa awaits – Come find your joy,” said de Lille. – SAnews.gov.za

    MIL OSI Africa –

  • MIL-OSI Africa: VAT hikes can raise tax without hurting the poor: an economist sets out the evidence

    Source: The Conversation – Africa – By Imraan Valodia, Pro Vice-Chancellor, Climate, Sustainability and Inequality and Director, Southern Centre for Inequality Studies, University of the Witwatersrand

    South Africa’s 2025-6 budget has been subjected to more comment than usual. This is due to the political tensions generated by a proposed increase in value added tax (VAT).

    South Africa’s choices on how it manages the revenue and expenditure issues in the budget are critical for how the larger issues of the country’s debt and its economic policies are handled. As things stand, the economy is locked into a low-growth trajectory which make the debt, revenue and expenditure issues more difficult to deal with.

    This piece draws on a longer article which explores these issues in greater detail. Here, I focus only on the VAT issue.

    The finance minister originally tabled an increase of 2 percentage points, then changed it to 0.5 percentage points. Still, it is threatening to end the country’s government of national unity, which was set up after elections in 2024.

    Read more: South Africa’s finance minister wanted to raise VAT: the pros and cons of a tricky tax

    Most commentators, including the political parties that have opposed the proposal, many academics, and non-governmental organisations claiming to represent low-income groups, have argued that an increase in VAT places an undue burden on low-income groups. This would make it regressive.

    Based on work as an academic economist over the past three decades, I believe that the debate has been based largely on conjecture and ideological opposition to VAT, rather than on the evidence of its impact.

    This is a pity as there is empirical evidence rooted in research that a VAT increase is, in fact, not regressive and is therefore a good policy decision.

    Tax experts usually refer to the three Es in taxes – equity, efficiency and ease of administration – for evaluating tax policy proposals. New taxes should ideally promote equity (they should be progressive and not regressive), be efficient and be easy to administer.

    An increase in VAT in South Africa ticks all these boxes.

    First, contrary to what many commentators have been arguing, VAT isn’t always regressive – it depends on how it’s implemented. As proposed by the finance minister it would not be regressive because, while it would add to the burden of low-income households, most of the VAT would be collected from higher-income households. Added to this is that the proposed expansion of the existing list of zero-rated items would protect the lowest-income households.

    Second, VAT is a very efficient tax. For relatively low increases in the rate, government is able to raise a large amount of revenue.

    Finally, the system is easy to administer and adds very little cost to collection.

    Key to its efficacy is the way VAT is implemented, including the choice of products to zero rate, and the political credibility of government.

    The case for a VAT increase

    VAT is a consumption tax, so it only affects the income that a household consumes.

    According to the International Monetary Fund (IMF), VAT is now the mainstay of tax systems in over 160 countries, raising on average one-third of total government revenues.

    In theory, there are good reasons to be concerned about the impact of VAT. First, it can place a high burden on low-income households because they spend a large proportion of their incomes on consumption goods such as food.

    Second, VAT may also place a heavy burden of tax on women. In South Africa and many other countries, women-led households tend to be clustered in the lower end of the income distribution. And women disproportionately take responsibility for feeding and caring for family members.

    So, at least in theory, VAT is a regressive tax. But is it really so in practice?

    Three studies that have explored this issue in some detail have concluded that, in South Africa, VAT is not regressive.

    In 2008, I worked with colleagues in eight countries (South Africa, Ghana, Uganda, Morocco, Mexico, Argentina, India and the United Kingdom) on the gender issues related to tax. In particular we looked at the burden of VAT on low-income and women-headed households.

    Our findings were that, in general, VAT is regressive and discriminates against women, but it depends on how it is implemented.

    In South Africa, the zero-rating of basic consumption goods is very effective, protecting low-income and female-headed households from VAT. It’s an example of a VAT system that is neutral – neither regressive nor progressive.

    A more recent study by South African economist Ingrid Woolard and colleagues reached a similar conclusion in 2018.

    A third study was done in the same year when VAT was increased from 14% to 15%. Following a similar emotive debate, the finance minister appointed an independent committee which I served on and which was chaired by Woolard, to advise on further zero-rating.

    Our conclusion – again – was that zero-rating is highly effective at protecting low-income groups from the deleterious effects of VAT.

    How it’s done matters

    The challenge with zero-rating is that while low-income households benefit, high-income households benefit more (because they spend more, in absolute terms, on zero-rated goods). Large amounts of potential VAT revenue are lost to high-income groups that don’t need protection.

    The trick is to find a basket of goods that low-income households consume a lot of, but which high-income households don’t consume in large quantities. Some typical examples are beans, canned pilchards and cabbage. These are all goods that low-income households consume and high-income households do not.

    National Treasury’s proposals for increasing the basket of goods to be zero-rated are based on solid research.

    A good example of the trade-offs to consider is the case of chicken. Chicken is an important source of protein for low-income households, but also for high-income households. So, if all chicken were zero-rated, this would protect poor households, but a large amount of VAT revenue would be lost.

    In our 2018 zero-rating report, at 2018 prices and consumption patterns, we calculated that zero-rating all chicken products would be equivalent to R1.3 billion (US$67.6 million) but government would lose R4.6 billion (US$244.4 million) to high income households.

    Not a good trade-off.

    However, some chicken products, such as chicken heads and feet, are mostly consumed by low-income groups, and are therefore good candidates for zero-rating.

    The two other Es – efficiency and ease of administration – of taxes are also key to consider.

    On these two considerations, VAT has big advantages.

    It’s very difficult to avoid or evade VAT because it’s collected along the chain of production. There’s evidence that South Africa has very little leakage in the system.

    So it is relatively easy to increase the VAT rate without needing to invest additional resources to collect the tax.

    Credibility is key

    Apart from the economic considerations, tax policy has to be politically credible. People should believe that their tax contributions are being used effectively, and government should be seen to be acting in line with this.

    If people don’t believe in government’s ability to spend wisely, resistance to taxes increases. Then tax avoidance and evasion increases.

    It would be fair to say that, with the high levels of corruption in South Africa’s political system, government’s credibility is low.

    Thus, if VAT is to be increased, government has to do a lot more to improve its credibility and reassure South Africans that the tax revenues will be well spent.

    – VAT hikes can raise tax without hurting the poor: an economist sets out the evidence
    – https://theconversation.com/vat-hikes-can-raise-tax-without-hurting-the-poor-an-economist-sets-out-the-evidence-254213

    MIL OSI Africa –

  • MIL-OSI: LPL Welcomes Synergy Wealth Strategies

    Source: GlobeNewswire (MIL-OSI)

    SAN DIEGO, April 23, 2025 (GLOBE NEWSWIRE) — LPL Financial LLC announced today that financial advisor James “Jim” Verdi, CFP®, has joined LPL Financial’s broker-dealer, Registered Investment Advisor (RIA) and custodial platforms. He reported serving approximately $350 million in advisory, brokerage and retirement plan assets* and joins LPL from Osaic.

    Based in Smithtown, N.Y., Verdi founded Synergy Wealth Strategies in 2008, driven by the mission that investors deserve a reputable, stable and safe place to house their investments. The firm’s name comes from the definition of synergy: the combined power of a group of things when they are working together that is greater than the total power achieved by each working separately. Together with his team, Verdi takes a comprehensive and holistic approach to wealth management to help clients create a more confident financial future for themselves and their families.

    “Our clients’ goals are well thought out and often quite complex. Their portfolios should reflect the same,” Verdi said. “We do not believe in ‘cookie-cutter’ solutions to complex issues. Instead, our investment advisory team spends the time to carefully consider the intricate issues of each individual and utilize the products and services that best suit the specific needs of each client.”

    Looking to enhance their client experience, improve their technological capabilities and grow their business, the Synergy Wealth Strategies team turned to LPL Financial.

    “By partnering with LPL, we can provide large-firm asset management with boutique-firm planning and strategy,” Verdi said. “With LPL’s integrated technology platform, we can access everything we need with a single sign-on, and by using their back-office support, we will be able to spend more time with our clients — where we belong.”

    Scott Posner, LPL Executive Vice President, Business Development, said, “We welcome Jim and his team to the LPL community and wish them success with this next chapter of their business. Like Jim, we understand that the whole is greater than the sum of its parts. To that end, LPL is committed to investing in industry-leading capabilities and strategic resources to help advisors thrive both operationally and strategically. We look forward to supporting Synergy Wealth Strategies for years to come.”

    Related

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

    About LPL Financial

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

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

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

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

    *Value approximated as reported to LPL

    Media Contact: 
    Media.relations@LPLFinancial.com 

    Tracking #723134

    The MIL Network –

  • MIL-OSI: AMD Announces Press Conference at Computex 2025

    Source: GlobeNewswire (MIL-OSI)

    SANTA CLARA, Calif., April 23, 2025 (GLOBE NEWSWIRE) — AMD (NASDAQ: AMD) today announced that it will be hosting a press conference during Computex 2025. The in-person and livestreamed press conference will take place on Wednesday, May 21, 2025, at 11 a.m. UTC+8, Taipei, at the Grand Hyatt, Taipei. The event will showcase the advancements AMD has driven with AI in gaming, PCs and professional workloads.

    AMD senior vice president and general manager of the Computing and Graphics Group Jack Huynh, along with industry partners, will discuss how AMD is expanding its leadership across gaming, workstations, and AI PCs, and highlight the breadth of the company’s high-performance computing and AI product portfolio.

    The livestream will start at 8 p.m. PT/11 p.m. ET on Tuesday, May 20 on AMD.com, with replay available after the conclusion of the livestream event.

    Supporting Resources

    About AMD
    For more than 50 years AMD has driven innovation in high-performance computing, graphics and visualization technologies. Billions of people, leading Fortune 500 businesses and cutting-edge scientific research institutions around the world rely on AMD technology daily to improve how they live, work and play. AMD employees are focused on building leadership high-performance and adaptive products that push the boundaries of what is possible. For more information about how AMD is enabling today and inspiring tomorrow, visit the AMD (NASDAQ: AMD) website, blog, LinkedIn and X pages.

    Contact:
    Stacy MacDiarmid
    AMD Communications
    +1 (512) 658-2265
    Stacy.MacDiarmid@amd.com

    Liz Stine
    AMD Investor Relations
    +1 (720) 652-3965
    Liz.Stine@amd.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b8bea120-f7b8-42a7-a04d-867a67fc0bae

    The MIL Network –

  • MIL-OSI: BTQ Technologies Corp. to Present at the OTCQX Best 50 Virtual Investor Conference April 24th

    Source: GlobeNewswire (MIL-OSI)

    VANCOUVER, British Columbia, April 23, 2025 (GLOBE NEWSWIRE) — BTQ Technologies Corp. (OTCQX: BTQQF) (CBOE CA: BTQ) (FSE: NG3), a global quantum technology company focused on securing mission-critical networks, today announced that Nicolas Roussy Newton, Co-Founder and COO will present live at the AI & Technology Virtual Investor Conference hosted by VirtualInvestorConferences.com, on April 24th, 2025.

    This live presentation, led by COO Nicolas Roussy Newton, will cover BTQ’s strategic growth plan, outline its global research initiatives currently underway and detail recent acquisitions and partnerships aimed at accelerating the commercialization of its advanced post quantum solutions.

    DATE: Thursday April 24, 2025
    TIME: 1:00am EST
    LINK: CLICK HERE TO REGISTER

    This will be a live, interactive online event where investors are invited to ask the company questions in real-time. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available after the event.

    It is recommended that online investors pre-register and run the online system check to expedite participation and receive event updates.

    Learn more about the event at www.virtualinvestorconferences.com.

    Recent BTQ Highlights:

    About BTQ
    BTQ was founded by a group of post-quantum cryptographers with an interest in addressing the urgent security threat posed by large-scale universal quantum computers. With the support of leading research institutes and universities, BTQ is combining software and hardware to safeguard critical networks using unique post-quantum services and solutions.

    Connect with BTQ: Website | LinkedIn

    About Virtual Investor Conferences®
    Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors.

    Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access. Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.

    CONTACTS:
    BTQ Technologies Corp.
    Bill Mitoulas
    Investor Relations
    +1.416.479.9547
    bill@btq.com

    Virtual Investor Conferences
    John M. Viglotti
    SVP Corporate Services, Investor Access
    OTC Markets Group
    (212) 220-2221
    johnv@otcmarkets.com

    Neither CBOE Canada nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

    The MIL Network –

  • MIL-OSI: Rapid7 Introduces Intelligence Hub Within Its Command Platform for Threat Intelligence With Curated, Actionable Insights

    Source: GlobeNewswire (MIL-OSI)

    BOSTON, April 23, 2025 (GLOBE NEWSWIRE) — Rapid7 (NASDAQ: RPD), a leader in extended risk and threat detection, today announced the launch of Intelligence Hub, an integrated threat intelligence solution designed to provide security teams with meaningful context and actionable insights for accelerated detection and response.

    Data overload is a major problem for security teams; two-thirds of SOC analysts responding to a recent survey said the number of security alerts they receive had “significantly increased” in the last three years. In addition, 70% said the number of security tools they work with had “significantly increased.”

    Intelligence Hub addresses several key challenges faced by security teams, including siloed intelligence platforms, lack of context, and the inability to prioritize threats effectively. Rapid7 Labs expertly curates the data delivered through Intelligence Hub, which includes sources that are unique to Rapid7 such as the company’s honeypot data and proprietary research. Low-prevalence, high-impact indicators are rigorously verified to minimize false positives and enable automated responses. The intelligence is then delivered directly within the Rapid7 Command Platform, bringing high-fidelity, curated intelligence into the security analyst’s workflow. This approach prioritizes data that can be trusted, ensuring security teams can focus on the threats that matter most.

    “Security organizations are drowning in noise, making timely responses to threats nearly impossible,” said Raj Samani, chief scientist at Rapid7. “Intelligence Hub addresses this challenge by focusing on curated intelligence, providing only the most relevant and verified indicators to enable rapid and effective action.”

    In addition to curated intelligence, Intelligence Hub provides contextualized information that empowers security teams to prioritize threats based on their specific industry, geography, and vulnerabilities, as well as the tactics and techniques of threat actors along with a clearly defined methodology for attribution. This allows for targeted remediation and effective resource allocation.

    Key Benefits of Intelligence Hub:

    • Integrates seamlessly with workflows: Delivers actionable intelligence directly within customers’ existing Command Platform tools—such as Rapid7’s next-gen SIEM, InsightIDR—eliminating context switching and accelerating response.
    • Cuts through the noise: Surfaces only the most relevant threats based on active attacker campaigns, industry targeting, and exploitability.
    • Delivers high-fidelity intelligence: Unifies global threat intelligence expertly curated by Rapid7 Labs researchers from ingestion sources that include data from Rapid7 honeypots, open source communities, and proprietary Labs research.
    • Provides meaningful context: Prioritizes relevant threats based on sector, geography, and vulnerability exploitation for proactive response.

    “In IDC’s October 2024 survey of U.S. organizations, the top three challenges with threat intelligence solutions were cost (42.2%), false positives and alert fatigue (40.0%), and data quality and reliability (39.7%),” said Monika Soltysik, senior research manager at IDC. “Solution providers that are proactively addressing these challenges, like Rapid7, are making it easier for their customers to understand and secure their attack surface.”

    To learn more about Intelligence Hub, click here. Rapid7 will also be demonstrating Intelligence Hub live at RSA Conference in San Francisco, April 28 – May 1.

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

    Rapid7 Media Relations
    Stacey Holleran
    Sr. Manager, Global Communications
    press@rapid7.com
    (857) 216-7804

    Rapid7 Investor Contact
    Elizabeth Chwalk
    Vice President, Investor Relations
    investors@rapid7.com
    (617) 865-4277

    The MIL Network –

  • MIL-OSI: Retirement Industry Disruptor™, Human Interest, Introduces PartnerConnect™, Redefining the 401(k) Experience for Financial Advisors

    Source: GlobeNewswire (MIL-OSI)

    SAN FRANCISCO, April 23, 2025 (GLOBE NEWSWIRE) — Today, Human Interest, a multi award-winning 401(k) provider1, is once again pushing boundaries in the retirement industry by launching PartnerConnect™, an integrated platform that empowers financial advisors to seamlessly create, manage, and monitor their clients’ 401(k) plans and investments from a single dashboard. To build this intuitive digital platform, Human Interest invested over 50,000 hours in product and engineering over the last year in direct consultation with dozens of financial advisors.

    Targeted to both retirement plan advisors and wealth advisors, PartnerConnect includes innovative features that have long been on advisors’ wish lists: the ability to view and manage multiple clients across one platform, tools to quickly design and change custom investment lineups, and the elimination of dozens of manual processes historically associated with setting up 401(k) plans. PartnerConnect is designed to be an integral tool for advisors to help them grow their business and better advise their clients.

    “Advisors are on the front lines of the effort to help investors and businesses navigate our challenging retirement system – and their partnership is crucial to Human Interest’s mission to deliver retirement plans for people from all lines of work,” said Rakesh Mahajan, Chief Revenue Officer at Human Interest. “That’s why we designed PartnerConnect with advisors at the heart of the experience.”

    Hot on the heels of their brazen Customer Experience Guarantee, an industry-leading commitment to service excellence for all 401(k) customers, Human Interest has now taken on legacy providers who expect advisors to toggle between clunky tools, spreadsheets, and endless rounds of phone tag with offshore support teams. Advisors spend nearly 1,000 hours2 a year on administrative and compliance tasks instead of focusing their time on their customers. PartnerConnect is specifically designed to eliminate many of the burdensome, mundane administration tasks that advisors hate.

    “Setting up new plans takes a fair amount of time and several manual processes, including sending emails and documents back and forth. A platform that could automate this process will help me spend less time on administrative work and more time focused on my clients,” said Noel Dulac, Managing Partner, Retirement Fiduciary Group, LLC.

    PartnerConnect integrates plan design, proposal management, fund lineup, and participant data into a single solution, with features that include:

    • A digital-first approach enables advisors to request and review proposals online and onboard new clients directly into the platform, eliminating multiple email threads.
    • An integrated dashboard provides a single view across all retirement plans in an advisor’s book of business, eliminating the need for multiple login accounts.
    • A flexible investment toolkit offers over 3,000 funds, and advisors can easily adjust funds or create lineup templates for replication across multiple plans, eliminating the need to email Excel files manually.
    • Bulk fund mapping allows advisors to select a single fund used across multiple plans and initiate a swap in just five clicks, eliminating the need for creating innumerable support cases for dozens of plans to make the same change.
    • ParticipantIQ™ will spotlight participant milestones (retirement, termination, salary increase, etc.) and help identify new participant engagement opportunities.

    In describing PartnerConnect, Bob Darrow, President at Strive Retirement, commented, “It’s about time the industry created something like this. Most platforms make it too complicated to support our clients and grow our book of business. This platform is comprehensive and easy to use, and will allow us to scale up our service model, delivering even more value to our clients.”

    The retirement savings gap is a significant challenge affecting millions of workers in America, and Human Interest is committed to being part of the solution. PartnerConnect is the latest in a series of innovations transforming the retirement industry, with an unwavering focus on removing barriers that keep people from investing in their future.

    Financial advisors interested in learning more can contact their Human Interest representative or visit our website at humaninterest.com/solutions/partnerconnect/.    

    About Human Interest

    Human Interest, Retirement Industry Disruptor™, is focused on fixing a broken industry that often relies on legacy technology, manual processes, and offshored service models. Human Interest is transforming the way 401(k)s should work, including several industry firsts: eliminating transaction fees3, offering a cash-back incentive program for plan participants, and the first of its kind money-backed customer experience guarantee.

    Human Interest has won several accolades this year, including the 2025 Fast Company Most Innovative Award and the 2025 Stevie Gold Award in Customer Experience. Founded in 2015 and headquartered in San Francisco, Human Interest has helped provide retirement benefits to employees at nearly 35,000 companies and counting. For more information, please visit humaninterest.com.

    Media Contacts
    press@humaninterest.com

    Maura Lafferty
    Firebrand Communications for Human Interest
    humaninterest@firebrand.marketing


    1     Human Interest was awarded the “Gold Stevie Award” medal in the 2025 Stevie AwardsⓇ for Sales & Customer Service in “Customer Experience.” The company was awarded a “Silver Stevie Award” in “Customer Service Employer of the Year.” Winners were determined by the average scores of more than 170 professionals worldwide in the three-month judging process. Read more about the winning organizations here and criteria for the award here. American Business Awards are registered trademarks of Stevie Awards, Inc. Stevie Awards, Inc. is not affiliated with Human Interest. This recognition is not indicative of Human Interest’s future performance.
    Human Interest was awarded the “Gold Stevie Award” medal in the 2025 Stevie AwardsⓇ for Sales & Customer Service in “Customer Experience.” The company was awarded a “Silver Stevie Award” in “Customer Service Employer of the Year.” Winners were determined by the average scores of more than 170 professionals worldwide in the three-month judging process. Read more about the winning organizations: https://stevieawards.com/sales/2025-stevie-award-winners and criteria for the award here: https://stevieawards.com/aba/judging-awards-process. American Business Awards are registered trademarks of Stevie Awards, Inc. Stevie Awards, Inc. is not affiliated with Human Interest. This recognition is not indicative of Human Interest’s future performance.
    Human Interest Inc. is honored to be recognized as one of Fast Company’s Most Innovative Companies in Finance and Personal Finance for 2025. See the full list here.

    2Natixis Global Survey of Financial Professionals, 2024

    3For non-rollover distributions, shipping and handling fees may apply to requests for check issuance and delivery.

    The MIL Network –

  • MIL-OSI: Willis Lease Finance Corporation Fuels Teesside’s Economic Takeoff with Bold Expansion Investment Starting with Construction of a State of the Art Two-Bay Narrowbody Maintenance Hangar

    Source: GlobeNewswire (MIL-OSI)

    COCONUT CREEK, Fla., April 23, 2025 (GLOBE NEWSWIRE) — Willis Lease Finance Corporation (NASDAQ: WLFC) the leading lessor of commercial aircraft engines and global provider of aviation services, is pleased to announce its subsidiary, Willis Aviation Services Limited (“WASL”), a leading aircraft maintenance, repair and overhaul (“MRO”) provider, has commenced construction of an additional two-bay narrowbody hangar at its growing operations at Teesside International Airport (“Teesside”) in Northeastern England. The new hangar will be equipped for 737 and A320 family aircraft, including new-generation models.

    Demand for aircraft heavy maintenance is exceptionally high, with global and European capacity falling short. Airlines must plan ahead to secure maintenance slots, as most MROs are at full capacity, making last-minute bookings difficult. The Company’s expansion plans add capacity to the UK’s MRO sector, addressing this industry gap. The new facility is expected to create a significant number of new highly-skilled jobs at Teesside. In partnership with local universities and colleges, WASL has laid the groundwork to launch training programs for new mechanics and apprentices, creating a sustainable pipeline of talent that supports both immediate operational needs and long-term skill development in the region.

    “We made a promise to create several hundred jobs in Northeast England, and we are proud to be delivering on that commitment. We are following through on our pledge to establish and expand our services in this region and beyond. Our integrated services businesses support third-party customers, as well as the Company’s owned and managed assets, driving meaningful growth and opportunity in the communities we serve,” said Austin C. Willis, Chief Executive Officer of WLFC.

    Willis Lease Finance Corporation
    Willis Lease Finance Corporation (“WLFC”) leases large and regional spare commercial aircraft engines, auxiliary power units and aircraft to airlines, aircraft engine manufacturers and maintenance, repair, and overhaul providers worldwide. These leasing activities are integrated with engine and aircraft trading, engine lease pools and asset management services through Willis Asset Management Limited, as well as various end-of-life solutions for engines and aviation materials provided through Willis Aeronautical Services, Inc. Through Willis Engine Repair Center®, Jet Centre by Willis, and Willis Aviation Services Limited, the Company’s service offerings include Part 145 engine maintenance, aircraft line and base maintenance, aircraft disassembly, parking and storage, airport FBO and ground and cargo handling services. Willis Sustainable Fuels intends to develop, build and operate projects to help decarbonize aviation.

    Except for historical information, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties. Do not unduly rely on forward-looking statements, which give only expectations about the future and are not guarantees. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update them to reflect any change in the Company’s expectations or any change in events, conditions or circumstances on which the forward-looking statement is based, except as required by law. Our actual results may differ materially from the results discussed in forward-looking statements. Factors that might cause such a difference include, but are not limited to: the effects on the airline industry and the global economy of events such as war, terrorist activity and the COVID-19 pandemic; changes in oil prices, rising inflation and other disruptions to world markets; trends in the airline industry and our ability to capitalize on those trends, including growth rates of markets and other economic factors; risks associated with owning and leasing jet engines and aircraft; our ability to successfully negotiate equipment purchases, sales and leases, to collect outstanding amounts due and to control costs and expenses; changes in interest rates and availability of capital, both to us and our customers; our ability to continue to meet changing customer demands; regulatory changes affecting airline operations, aircraft maintenance, accounting standards and taxes; the market value of engines and other assets in our portfolio; and risks detailed in the Company’s Annual Report on Form 10-K and other continuing and current reports filed with the Securities and Exchange Commission. It is advisable, however, to consult any further disclosures the Company makes on related subjects in such filings. These statements constitute the Company’s cautionary statements under the Private Securities Litigation Reform Act of 1995.

     CONTACT: Lynn Mailliard Kohler
      Director, Global Corporate Communications
      (415) 328-4798

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