Category: Finance

MIL-OSI: ES Bancshares, Inc. Announces First Quarter 2025 Results; Continues Positive Trend of Net Income and Net Interest Margin Expansion

Source: GlobeNewswire (MIL-OSI)

STATEN ISLAND, N.Y., April 18, 2025 (GLOBE NEWSWIRE) — ES Bancshares, Inc. (OTCQX: ESBS) (the “Company”) the holding company for Empire State Bank, (the “Bank”) today reported net income of $546 thousand, or $0.08 per diluted common share, for the quarter ended March 31, 2025, compared to a net income of $466 thousand, or $0.07 per diluted common share for the quarter ended December 31, 2024.

Key Quarterly Financial Data								2025 Highlights
Performance Metrics	1Q25		4Q24			1Q24		• The Cost of Funds for the three months ended March 31, 2025, improved to 2.69% from 2.87% in the prior linked quarter. • For 3 months ended March 31, 2025, the Company’s net interest margin increased to 2.68% compared to 2.50% for the 3 months ended December 31, 2024. • The Company sold $3 million in SBA 7a loan during the quarter, resulting in a gain on loan sale. • The Company generated $236 thousand more in net interest income from the prior quarter. • Book value for the quarter ended March 31, 2025, totaled $6.97 per share increasing for the fourth consecutive quarter.
Return on average assets (%)		0.35		0.29		(0.07	)
Return on average equity (%)		4.53		3.94		(0.90	)
Return on average tangible equity (%)		4.59		3.99		(0.91	)
Net interest margin (%)		2.68		2.50		2.12

Income Statement (a)	1Q25		4Q24			1Q24
Net interest income	$	4,112	$	3,876	$	3,203
Non-interest income	$	349	$	372	$	215
Net income	$	546	$	466	$	(103	)
Earnings per diluted common share	$	0.08	$	0.07	$	(0.02	)

Balance Sheet (a)	1Q25		4Q24			1Q24
Average total loans	$	568,508	$	566,031	$	567,526
Average total deposits	$	506,524	$	512,925	$	486,323
Book value per share	$	6.97	$	6.89	$	6.75
Tangible book value per share	$	6.89	$	6.81	$	6.67
(a) In thousands except for per share amounts

Phil Guarnieri, Director, and Chief Executive Officer of ES Bancshares said, “The first quarter of 2025 showed continued growth in net income, which is a result of management’s focus on interest rates and our containment of non-interest expenses. The recent turmoil in the market due to the uncertainty of tariffs is causing unforeseen challenges but our flexibility allows us to adapt to these changing economic conditions.”

Selected Balance Sheet Information:

March 31, 2025 vs. December 31, 2024

As of March 31, 2025, total assets were $631.5 million, a decrease of $5.2 million, or 0.8%, as compared to total assets of $636.7 million on December 31, 2024. The decrease can be attributed to a slightly smaller loan portfolio.

Loans receivable, net of Allowance for Credit Losses on Loans totaled $561.4 million, an increase of 0.4% from December 31, 2024. As of March 31, 2025, the Allowance for Credit Losses on Loans as a percentage of gross loans was 0.91%.

Nonperforming assets, which includes nonaccrual loans and foreclosed real estate were $5.5 million or 0.86% of total assets, as of March 31, 2025, increasing from $5.3 million or 0.84% of total assets at December 31, 2024. The ratio of nonaccrual loans to loans receivable was 0.96%, as of March 31, 2025, and 0.94% for December 31, 2024. The increase from December 31, 2024, was primarily due to two commercial loans being placed on non-accrual status. One loan has a SBA guaranty and the other loan has a 50% loss sharing agreement.

Total liabilities decreased $6.0 million to $583.2 million at March 31, 2025, from $589.2 million at December 31, 2024. The decrease can be attributed to a decrease in core deposits partially offset by overnight Federal Home Loan (FHLB) borrowings and growth in brokered deposits. The reduction in deposits was driven by a decrease in interest-bearing deposits, specifically 1031 exchange accounts as those deposits are short-term in nature.

As of March 31, 2025, the Bank’s Tier 1 capital leverage ratio, common equity tier 1 capital ratio, Tier 1 capital ratio and total capital ratios were 9.46%, 13.81%, 13.81% and 15.06%, respectively, all in excess of the ratios required to be deemed “well-capitalized.” During the first quarter of 2025 the Company did not repurchase shares under its stock repurchase program. Book value per common share was $6.97 at March 31, 2025 compared to $6.89 at December 31, 2024. Tangible common book value per share (which represents common equity less goodwill, divided by the number of shares outstanding) was $6.89 at March 31, 2025 compared to $6.81 at December 31, 2024.

Financial Performance Overview:

Three Months Ended March 31, 2025, vs. December 31, 2024

For the three months ended March 31, 2025, the Company net income totaled $546 thousand compared to a net income of $466 thousand for the three months ended December 31, 2024. The increase can be attributed to higher net interest income partially offset by lower non-interest income and higher non-interest expenses, quarter over quarter.

Net interest income for the three months ended March 31, 2025, increased $236 thousand, to $4.1 million from $3.9 million at three months ended December 31, 2024. The Company’s net interest margin widened by eighteen basis points to 2.68% for the three months ended March 31, 2025, as compared to 2.50% for the three months ended December 31, 2024. The increase in margin can be attributed to a reduction of 12 basis points in the Company’s average cost for its interest-bearing liabilities.

There was a $30 thousand reversal for credit losses taken for the three months ended March 31, 2025, compared to a provision for credit losses of $2 thousand for the three months ended December 31, 2024. The reversal for credit losses was due to lower ACL for investments and off-balance sheet positions, partially offset by an increase in the ACL for loans.

Non-interest income decreased $23 thousand, to $349 thousand for the three months ended March 31, 2025, compared with non-interest income of $372 thousand for the three months ended December 31, 2024. The majority of the decreases can be attributed to lower service charges and fees and lower gain on loan sales.

Non-interest expenses totaled $3.7 million for the three months ended March 31, 2025, compared to $3.6 million for the three months ended December 31, 2024. The largest fluctuations quarter over quarter were due to a $88 thousand increase in professional fees, due to larger legal expenses, an increase in compensation and benefits due to additional hires, and increased advertising expenses, partially offset by $47 thousand decrease in other expenses.

About ES Bancshares Inc.
ES Bancshares, Inc. (the “Company”) is incorporated under Maryland law and serves as the holding company for Empire State Bank (the “Bank”). The Company is subject to regulation by the Board of Governors of the Federal Reserve System while the Bank is primarily subject to regulation and supervision by the New York State Department of Financial Services. Currently, the Company does not transact any material business other than through the Bank, its subsidiary.

The Bank was organized under federal law in 2004 as a national bank regulated by the Office of the Comptroller of the Currency. The Bank’s deposits are insured up to legal limits by the FDIC. In March 2009, the Bank converted its charter to a New York State commercial bank charter. The Bank’s principal business is attracting commercial and retail deposits in New York and investing those deposits primarily in loans, consisting of commercial real estate loans, and other commercial loans including SBA and mortgage loans secured by one-to-four-family residences. In addition, the Bank invests in mortgage-backed securities, securities issued by the U.S. Government and agencies thereof, corporate securities and other investments permitted by applicable law and regulations.

We operate from our five Banking Center locations, a Loan Production Office and our Corporate Headquarters located in Staten Island, New York. The Company’s website address is www.esbna.com. The Company’s annual report, quarterly earnings releases and all press releases are available free of charge through its website, as soon as reasonably practicable.

Forward-Looking Statements

This release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. For this purpose, any statements contained in this release that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, words such as “may”, “will”, “expect”, “believe”, “anticipate”, “estimate” or “continue” or comparable terminology, are intended to identify forward-looking statements. These statements by their nature involve substantial risks and uncertainties, and actual results may differ materially depending on a variety of factors, many of which are not within ES Bancshares, Inc’s. control. The forward-looking statements included in this release are made only as of the date of this release. We have no intention, and do not assume any obligation, to update these forward-looking statements.

Investor Contact:
Peggy Edwards, Corporate Secretary
(845) 451-7825

ES Bancshares, Inc.
Consolidated Statements of Financial Condition
(in thousands)
		March 31,		December 31,
		2025		2024
		\|—-(unaudited)—-\|
Assets
Cash and cash equivalents	$	22,794		26,713
Securities, net		22,249		22,336
Loans receivable, net:
Real estate mortgage loans		542,524		545,569
Commercial and Lines of Credit		19,617		14,418
Home Equity and Consumer Loans		386		398
Deferred costs		3,978		4,084
Allowance for Loan Credit Losses		(5,150	)	(5,137	)
Total loans receivable, net		561,355		559,330
Accrued interest receivable		2,641		2,628
Investment in restricted stock, at cost		4,778		4,335
Goodwill		581		581
Bank premises and equipment, net		4,635		4,845
Repossessed assets		–		–
Right of use lease assets		5,677		5,894
Bank Owned Life Insurance		5,527		5,489
Other Assets		1,274		4,589
Total Assets	$	631,511		636,739

Liabilities & Stockholders’ Equity
Non-Interest-Bearing Deposits		105,162		97,490
Interest-Bearing Deposits		369,660		395,593
Brokered Deposits		23,025		20,750
Total Deposits		497,847		513,833
Bond Issue, net of costs		11,797		11,787
Borrowed Money		59,898		50,083
Lease Liability		5,959		6,172
Other Liabilities		7,701		7,313
Total Liabilities		583,202		589,188
Stockholders’ equity		48,309		47,551
Total liabilities and stockholders’ equity	$	631,511		636,739

	ES Bancshares, Inc.
	Consolidated Statements of Income
	(in thousands)

	Three Months Ended
	March 31, 2025			December 31, 2024		March 31, 2024
	\|————–(unaudited)————–\|
Interest income
Loans	$	7,478		$	7,405	$	7,208
Securities		213			224		115
Other interest-earning assets		243			373		263
Total Interest Income		7,934			8,002		7,586
Interest expense
Deposits		3,118			3,436		3,585
Borrowings		704			690		798
Total Interest Expense		3,822			4,126		4,383
Net Interest Income		4,112			3,876		3,203
(Rev)Prov for Credit Losses		(30	)		2		39
Net Interest Income after (Rev)Prov for Credit Losses		4,142			3,874		3,164
Non-interest income
Service charges and fees		175			192		172
Gain on loan sales		132			139		1
Gain on extinguishment of Sub-debt		–			–		–
Other		42			41		42
Total non-interest income		349			372		215
Non-interest expenses
Compensation and benefits		1,689			1,662		1,721
Occupancy and equipment		669			618		668
Data processing service fees		315			295		326
Professional fees		335			247		181
FDIC & NYS Banking Assessments		113			132		97
Advertising		89			64		75
Insurance		53			56		50
Other		471			518		337
Total non-interest expense		3,734			3,592		3,455
Income prior to tax expense		757			654		(76	)
Income taxes		211			188		27
Net Income	$	546		$	466	$	(103	)

	ES Bancshares, Inc.
	Average Balance Sheet Data
	For the Three Months Ended (dollars in thousands)
	March 31, 2025						December 31, 2024						September 30, 2024
	Avg Bal		Interest		Average		Avg Bal		Interest		Average		Avg Bal		Interest		Average
	Rolling		Rolling				Rolling		Rolling				Rolling		Rolling
Assets	3 Mos.		3 Mos.		Yield/Cost		3 Mos.		3 Mos.		Yield/Cost		3 Mos.		3 Mos.		Yield/Cost
Interest-earning assets:
Loans receivable	$	568,508	$	7,478	5.26	%	$	564,745	$	7,405	5.24	%	$	566,031	$	7,315	5.17	%
Investment securities		22,839		213	3.73	%		22,898		224	3.91	%		22,480		218	3.87	%
Other interest-earning assets		21,343		243	4.55	%		31,135		373	4.69	%		31,656		428	5.29	%
Total interest-earning assets		612,690		7,934	5.18	%		618,778		8,002	5.17	%		620,167		7,961	5.13	%
Non-interest earning assets		19,077						18,048						17,919
Total assets	$	631,767					$	636,826					$	638,086
Liabilities and Stockholders’ Equity
Interest-bearing liabilities:
Interest-bearing checking	$	36,869	$	31	0.34	%	$	32,800	$	27	0.33	%	$	33,512	$	55	0.65	%
Savings accounts		205,503		1,443	2.85	%		217,746		1,695	3.09	%		200,248		1,728	3.42	%
Certificates of deposit		166,005		1,644	4.02	%		166,368		1,714	4.09	%		173,577		1,891	4.32	%
Total interest-bearing deposits		408,377		3,118	3.10	%		416,914		3,436	3.27	%		407,337		3,674	3.58	%
Borrowings		50,124		514	4.16	%		50,189		499	3.94	%		52,984		519	3.89	%
Subordinated debenture		11,793		190	6.44	%		11,784		191	6.43	%		13,726		201	5.81	%
Total interest-bearing liabilities		470,294		3,822	3.30	%		478,887		4,126	3.42	%		474,047		4,394	3.68	%
Non-interest-bearing demand deposits		98,147						96,011						104,782
Other liabilities		15,188						14,581						13,046
Total non-interest-bearing liabilities		113,335						110,592						117,828
Stockholders’ equity		48,138						47,347						46,211
Total liabilities and stockholders’ equity	$	631,767					$	636,826					$	638,086
Net interest income			$	4,112					$	3,876					$	3,567
Average interest rate spread					1.88	%					1.75	%					1.46	%
Net interest margin					2.68	%					2.50	%					2.30	%

Five Quarter Performance Ratio Highlights		Three Months Ended
Five Quarter Performance Ratio Highlights		March 31, 2025		December 31, 2024		September 30, 2024		June 30, 2024		March 31, 2024
Performance Ratios (%) – annualized
	Return(loss) on Average Assets		0.35		0.29		0.36		0.10		(0.07	)
	Return(loss) on Average Equity		4.53		3.94		4.98		1.37		(0.90	)
	Return(loss) on Average Tangible Equity		4.59		3.99		5.04		1.38		(0.91	)
	Efficiency Ratio		83.71		84.58		81.70		92.86		101.08
Yields / Costs (%)
	Average Yield – Interest Earning Assets		5.18		5.17		5.13		5.16		5.03
	Average Cost – Interest-bearing Liabilities		3.30		3.42		3.69		3.86		3.82
	Net Interest Margin		2.68		2.50		2.30		2.21		2.12
Capital Ratios (%)
	Equity / Assets		7.65		7.47		7.44		7.12		7.34
	Tangible Equity / Assets		7.56		7.38		7.36		7.03		7.26
	Tier I leverage ratio (a)		9.46		9.31		9.18		9.30		9.52
	Common equity Tier I capital ratio (a)		13.81		13.68		13.67		13.81		13.63
	Tier 1 Risk-based capital ratio (a)		13.81		13.68		13.67		13.81		13.63
	Total Risk-based capital ratio (a)		15.06		14.93		14.92		15.06		14.88
Stock Valuation
	Book Value	$	6.97	$	6.89	$	6.85	$	6.74	$	6.75
	Tangible Book Value	$	6.89	$	6.81	$	6.77	$	6.65	$	6.67
	Shares Outstanding (b)		6,927		6,900		6,878		6,884		6,834
Asset Quality (%)
	ACL / Total Loans		0.91		0.91		0.90		0.90		0.89
	Non Performing Loans / Total Loans		0.96		0.94		0.91		0.22		0.24
	Non Performing Assets / Total Assets		0.86		0.84		0.81		0.19		0.21

	(a) Ratios at Bank level (b) Shares information presented in thousands

The MIL Network –

April 19, 2025

MIL-OSI: Prospect Capital Corporation Announces Results of Cash Tender Offer For Any and All of its Outstanding 3.706% Notes due 2026

Source: GlobeNewswire (MIL-OSI)

NEW YORK, April 18, 2025 (GLOBE NEWSWIRE) — Prospect Capital Corporation (the “Company”) today announced the results of its previously announced cash tender offer (the “Tender Offer”) to purchase any and all of the outstanding notes listed below. The Tender Offer was made pursuant to an Offer to Purchase dated April 9, 2025 (the “Offer to Purchase”), which set forth the terms and conditions of the Tender Offer, and the accompanying notice of guaranteed delivery (the “Notice of Guaranteed Delivery”).

As of the previously announced expiration time of 5:00 p.m., New York City time, on April 17, 2025 (the “Expiration Time”), according to information provided by D.F. King & Co., Inc., the Information and Tender Agent for the Tender Offer, a total of $142,961,000 aggregate principal amount of Notes (defined below) had been validly tendered and not validly withdrawn in the Tender Offer. This amount includes $8,732,000 tendered pursuant to the guaranteed delivery procedures described in the Offer to Purchase and the Notice of Guaranteed Delivery, which remains subject to the holders’ performance of the delivery requirements under such procedures. Withdrawal rights for the Notes expired at 5:00 p.m., New York City time, on April 17, 2025. The table below sets forth the aggregate principal amount and percentage of the Notes validly tendered and not validly withdrawn by the Expiration Time that will be accepted for purchase by the Company (the “Eligible Notes”).

Title of Security CUSIP / ISIN Nos. Outstanding Principal
Amount Principal Amount
Tendered

3.706% Notes due 2026
(the “Notes”) 74348TAU6 /
US74348TAU60 $342,947,000 $142,961,000

The consideration to be paid for the Eligible Notes is $990.00 for each $1,000 principal amount of Eligible Notes, plus accrued and unpaid interest on the Eligible Notes, if any, from the applicable last interest payment date up to, but not including, the settlement date, which date is expected to be April 22, 2025.

The Company has retained RBC Capital Markets, LLC to serve as the Dealer Manager for the Tender Offer. Questions and requests for assistance regarding the Tender Offer should be directed to RBC Capital Markets, LLC at +1 (212) 618-7843 (collect) or +1 (877) 381-2099 (toll free).

The Company has retained D.F. King & Co., Inc. to serve as the Information and Tender Agent for the Notes in the Tender Offer.

The Tender Offer is being made pursuant to the terms and conditions contained in the Offer to Purchase, a copy of which may be obtained from D.F. King & Co., Inc. at (212) 269-5550 (Banks and Brokers) or (800) 967-5068 (toll free), or via psec@dfking.com.

Copies of the Offer to Purchase and Retail Processing Fee Form are also available at the following web address: https://www.dfking.com/psec/.

This announcement is for informational purposes only and is not an offer to purchase or sell or a solicitation of an offer to purchase or sell, with respect to any securities. The solicitation of offers to buy the Notes is only being made pursuant to the terms of the Offer to Purchase, as it may be amended or supplemented. The Tender Offer is not being made in any state or jurisdiction in which such offer would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. None of the Company, the Dealer Manager, or the Information and Tender Agent are making any recommendation as to whether or not holders should tender their Notes in connection with the Tender Offer.

About Prospect Capital Corporation

Prospect Capital Corporation is a business development company that focuses on lending to and investing in private businesses. Prospect’s investment objective is to generate both current income and long-term capital appreciation through debt and equity investments.

Prospect has elected to be treated as a business development company under the Investment Company Act of 1940 (“1940 Act”). Prospect is required to comply with regulatory requirements under the 1940 Act as well as applicable NASDAQ, federal and state rules and regulations. Prospect has elected to be treated as a regulated investment company under the Internal Revenue Code of 1986.

Caution Concerning Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, whose safe harbor for forward-looking statements does not apply to business development companies. These forward-looking statements include statements regarding expectations as to the completion of the transaction contemplated by the Tender Offer. Any such statements, other than statements of historical fact, are highly likely to be affected by other unknowable future events and conditions, including elements of the future that are or are not under our control, and that we may or may not have considered; accordingly, such statements cannot be guarantees or assurances of any aspect of future performance. Actual developments and results are highly likely to vary materially from any forward-looking statements. Such statements speak only as of the time when made, and we undertake no obligation to update any such statement now or in the future.

For further information, contact:

Grier Eliasek, President and Chief Operating Officer
grier@prospectcap.com
Telephone (212) 448-0702

The MIL Network –

April 19, 2025
MIL-OSI United Kingdom: Council set to ensure essential work done as part of schools PFI hand back

Source: City of Stoke-on-Trent

Published: Thursday, 17th April 2025

Stoke-on-Trent City Council is prepared to step in to ensure essential improvements to the city’s school buildings reach completion as part of the hand back process for its Private Finance Initiative.

The council is set to fund a “backstop” position of up to £3.5 million to fund works that may not be completed by the PFI contractor, Transform Schools Stoke Ltd (TSSL), and other identified work.

The money – which would come from an existing capital reserve that is no longer needed for schools growth – signals the council’s firm commitment to ensuring works get done, and that all children are provided with good school environments where they can thrive.

It comes as the 25-year contract draws to a close and is intended to give all parties security and confidence to move forward together and bring this chapter to a close

The council intends to enter a further agreement with TSSL to agree a final programme of hand back works is completed that prioritises timely delivery of the most important works.

That would allow the contractor additional time, where justified, beyond the current contract end date of 25 October to complete outstanding or overrunning works, and to satisfactorily resolve any quality issues.

Stoke-on-Trent’s schools PFI contract is the biggest in the country covering the delivery of maintenance services to 88 school buildings. It was one of the first such PFI deals to get off the ground in the country – and as such it gave the council fewer levers and controls than the contracts which were to follow.

Nevertheless, the council is determined to make sure the transition is as robust and as smooth as possible as the contract comes to an end and is working collaboratively with TSSL to achieve a successful handover.

Councillor Alastair Watson, Cabinet Member for Financial Sustainability and Corporate Resources at Stoke-on-Trent City Council, said: “The priority here is to work with schools and trusts to ensure they get the safe, warm and dry works they are expecting, and to the standard we all require for our city’s children.”

MIL OSI United Kingdom –

April 19, 2025
MIL-OSI Asia-Pac: CBIC issues revised instructions for processing applications for GST registration by CBIC formations

Source: Government of India

CBIC issues revised instructions for processing applications for GST registration by CBIC formations

Revised guidelines to field formations will reduce compliance burden on taxpayers and facilitate rule-based transparency

Posted On: 18 APR 2025 11:37AM by PIB Delhi

Several grievances have been received by the Central Board of Indirect Taxes and Customs (CBIC), Department of Revenue, Ministry of Finance, regarding difficulties being faced by applicants during the GST registration process, mainly on account of queries raised by officers on the grounds of seeking additional documents.

To resolve these grievances and to smoothen GST registration process, CBIC has issued instructions on 17^th April, 2025 (Instruction No. 03/2025-GST) to the officers for processing GST registration applications. Officers have been instructed to strictly adhere to the prescribed list of documents provided in registration application form. Requisite documents in specific cases to be uploaded with registration application form have also been delineated in the instructions. Officers have been directed not to issue notices based on presumptive grounds, minor discrepancies, or for additional documents that are not essential for processing applications. Officers have been also directed to seek approval of the concerned Deputy/Assistant Commissioner in cases where document apart from the listed documents is required to be sought.

The Zonal Principal Chief Commissioner/Chief Commissioners have been advised to devise mechanism to closely monitor and issue suitable trade notices, wherever required. It has also been advised that the strict action should be taken against the officers deviating from these instructions.

This will further facilitate in the process of getting GST registration, ease compliance burden, and promote ease of doing business.

Please follow the following links for detailed instructions:

HTTPS://TAXINFORMATION.CBIC.GOV.IN/VIEW-PDF/1000532/ENG/INSTRUCTIONS

CLICK HERE FOR ALTERNATE LINK OF INSTRUCTION NO. 03/2025-GST

****

NB/KMN

(Release ID: 2122619) Visitor Counter : 77

MIL OSI Asia Pacific News –

April 18, 2025
MIL-OSI: MEXC Announces Listing of Initia (INIT) with a 115,000 INIT and 50,000 USDT Prize Pool
Source: GlobeNewswire (MIL-OSI)

VICTORIA, Seychelles, April 18, 2025 (GLOBE NEWSWIRE) — MEXC, a leading global cryptocurrency exchange, announced the listing of Initia (INIT) on April 24, 2025 (UTC), accompanied by a celebratory event featuring a 115,000 INIT and 50,000 USDT prize pool for new and existing users.

Initia is the first interwoven optimistic‑rollup network, reconstructing multichain architecture with native interoperability and shared liquidity. As a full‑stack Layer 1+2 platform, Initia supports both EVM & Move VM, enabling seamless cross‑ecosystem collaboration. Developed by veterans from top DeFi and blockchain security teams and backed by YZi Labs(Binance Labs), Hack VC, Delphi Digital, and Theory Ventures.

$INIT is the native utility token of the Initia ecosystem, powering key functions such as gas payments, staking, governance, cross-chain transfers, and liquidity provision. Through these utilities, $INIT drives user participation and supports the growth of a secure and decentralized Initia ecosystem.

To celebrate the listing, MEXC will launch an Airdrop+ event, running from April 18 to May 4, 2025 (UTC). The event will include the following activities:
- Deposit and share 90,000 INIT (exclusive to new users)
- Spot Challenge – Trade to share 10,000 INIT (for all users)
- Futures Challenge – Trade to share 50,000 USDT in futures bonus (for all users)
- Invite new users and share 15,000 INIT (for all users)
MEXC has established itself as a leading exchange by consistently offering users early access to high-potential crypto assets. In 2024 alone, the platform listed 2,376 new tokens, including 1,716 initial listings. According to the latest TokenInsight report, MEXC led the industry with 461 spot listings between November 1, 2024, and February 15, 2025. During this period, the exchange maintained a high listing frequency, consistently ranking among the top six platforms, demonstrating its agility in capturing emerging market trends. MEXC will continue to expand its asset offerings and help users seize timely opportunities in the fast-moving crypto market.

For full event details and participation rules, please visit here.

About MEXC
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Source

Contact :
Lucia Hu
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The MIL Network –
April 18, 2025
MIL-OSI Russia: Students of the State University of Management held a seminar for the Day of United Actions in Memory of the Genocide of the Soviet People

Translartion. Region: Russians Fedetion –

Source: State University of Management – Official website of the State –

On April 17, 2025, a seminar dedicated to the Day of United Actions in Memory of the Victims of the Genocide of the Soviet People by the Nazis and their Collaborators during the Great Patriotic War was held at the Institute of Economics and Finance of the State University of Management.

This memorable date is celebrated throughout the country on April 19. It was on April 19, 1943 that the Decree of the Presidium of the Supreme Soviet of the USSR was issued “On measures of punishment for German-fascist villains guilty of murder and torture of the Soviet civilian population and captured Red Army soldiers, for spies, traitors to the homeland from among Soviet citizens and for their accomplices.” This decree became the legal basis for investigative actions to establish the crimes of the Nazis against citizens of the Soviet Union.

The Extraordinary State Commission for the Establishment and Investigation of the Crimes of the Nazi Invaders collected 250,000 testimonies about the occupiers’ crimes and compiled 56,000 reports on them. It was calculated that the enemy destroyed 1,710 cities and towns, burned more than 70,000 villages, and destroyed about 6 million buildings, thus depriving 25 million people of shelter. The damage to the national economy of the USSR amounted to 679 billion rubles.

Today it is especially important to preserve the memory of the victims of that war, in order to prevent the development of neo-fascism. For this purpose, the IFE held a thematic seminar in the form of reports by first-year students on the eve of the memorable date. A total of nine reports were made at the seminar.

The first of them was dedicated to the unofficial symbol of fascist atrocities against the civilian population – the village of Khatyn, burned down along with all its inhabitants. In her report “Khatyn: An Unhealed Wound of the Belarusian Land”, student Alla Korobkova spoke about the terrible events of the spring of 1943. Each time, talking about the tragedy of the Soviet people during the Great Patriotic War, the students also recalled modern events, because exactly 81 years after the Khatyn tragedy, on March 22, 2024, a terrible terrorist attack occurred in the Crocus City Hall.

The echo of modern times was also heard in the report by Elizaveta Kotova and Diana Popova, “The Feat of Youth in the Fight against Genocide of the Peoples of the USSR.” In their report, the girls told about the feat of the Young Guard. Krasnodon, where the guys lived and fought the fascists, is still in the frontline zone today. Diana Popova noted after the seminar: “The event dedicated to the victims of genocide makes us think about the heroism and responsibility of the Soviet people. Its unity and endurance should still find a response in the hearts of people and especially the younger generation.”

Mikhail Semakov Mikhail in his report “Babi Yar Concentration Camp: Symbol of Nazi Terror in the Occupied Territory of the USSR” spoke about the terrible tragedy of 1941, when the Nazis and local collaborators shot about 150 thousand people, with more than 30 thousand people killed in the first two days of mass shootings.

Anna Feshchenko and Anna Evtyukhina in their report drew attention to the living conditions of civilians in the occupied lands: hunger, terror and deprivation. During the discussion of the report, the children recalled the Salaspils children’s concentration camp – a blood factory, where about 3,500 liters of blood were pumped out of children kept in inhumane conditions over three years.

In addition to stories about the atrocities of the fascists, the children noted the fortitude and heroism of the Soviet people. Thus, Nikolai Stroyev in his report “Resistance and Survival: How Soviet Citizens Fought Genocide During the Great Patriotic War” noted the fact that genocide did not break the Soviet people, but on the contrary, raised them to fight the invaders.

Dmitry Kamchatov and Diana Mikhailova spoke about the trial of fascist ideologists at the Nuremberg Trials. Diana Mikhailova noted: “The students conveyed important historical information with dignity, awakening deep respect for the past. The event left a strong impression and emphasized the need to preserve the memory of tragic events.”

The seminar continues the series of events held by the IEF for the 80th anniversary of the Victory. Students noted the importance of the meetings. Dmitry Kamchatov said: “Events of a social and educational nature are in demand more than ever. The very fact of holding such meetings shows the involvement of students in cultural programs. During today’s meeting, speakers and listeners mastered important material on the topic. It is worth noting the active participation of the IEF Directorate in the discussion and coverage of this topic in the Year of the Defender of the Fatherland.”

Let us recall that last week we celebrated the Day of Liberation of Prisoners of Nazi Concentration Camps.

The crimes committed by the fascist occupiers have no statute of limitations, and we have no right to forget them.

#Scientific regiment

Subscribe to the TG channel “Our GUU” Date of publication: 04/18/2025

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

MIL OSI Russia News –

April 18, 2025
MIL-OSI Russia: The prospects for the development of investment and construction activities in Russia were discussed at the State University of Management

Translartion. Region: Russians Fedetion –

Source: State University of Management – Official website of the State –

On April 16, the State University of Management hosted the annual round table “Prospects for the Development of Investment and Construction Activities in Russia”, organized by the Department of Economics and Management in Construction with the participation of the NP NO TCA.

The event was attended by representatives of small and medium-sized businesses in the investment and construction sector, heads of engineering, consulting companies and the Scientific and Research Center “Construction”.

The round table included several sessions, including “Small and medium-sized businesses in construction: prospects and challenges” and “Experience and prospects of interaction between representatives of the real sector of the economy and the department: a practice-oriented approach, trends in the development of investment and construction activities and their impact on personnel training.”

The official opening of the event began with a greeting to the participants of the round table from the Deputy Minister of Economic Development of the Russian Federation, a graduate of the State University of Management Tatyana Ilyushnikova, in which she noted that the growth of small and medium-sized businesses in the investment and construction complex in recent years is associated with their high flexibility and rapid adaptation to modern economic conditions. The Deputy Minister emphasized that small and medium businesses are becoming an increasingly important sector of the economy and a key factor in the sustainability of regions.

Andrey Tarakanov, Director of the Department for the Development of Small and Medium-Sized Entrepreneurship and Tax Incentives of the Ministry of Economic Development of Russia, spoke about the tasks of the SME sector for the period 2025-2030.

“The President has set a goal: by 2030, real income per employee of small and medium-sized businesses should grow faster than GDP by 20%. This should be done by strengthening the role of small businesses in structural changes in the economy and in the development of the technological agenda,” noted Andrei Tarakanov.

The President of the National Association of Technological and Price Auditors Anna Lupashko gave a report on the capabilities of the FGIS services “Unified Digital Platform “National Spatial Data System”.

In the second session, the head of the Department of Economics and Management in Construction, Olga Astafieva, reflected on the experience of interaction between representatives of the real sector of the economy and the department.

“As part of project-based learning, students perform work at the request of our partners. Today, the round table presented the results of the interaction between the Scientific and Research Center “Construction” and the department, within which our students developed a methodology for assessing the commercial potential of an innovative project in construction. Based on the methodology, it is possible to identify factors of project attractiveness, forecast project development opportunities, assess risks and possible financial losses,” Olga Astafieva noted.

During the round table, it was emphasized that the implementation of such practices will allow the formation of practical skills and competencies in cooperation with companies in the investment and construction complex, including small and medium-sized businesses.

At the end of the meeting, the participants noted the importance and necessity of developing the department’s educational programs: “Economics and Management of Investment and Construction Activities” (bachelor’s degree), “Management of Investment and Construction Business” and “Investment and Construction Business Engineering” (master’s degree) for the development and strengthening of human resources.

Subscribe to the TG channel “Our GUU” Date of publication: 04/18/2025

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

MIL OSI Russia News –

April 18, 2025
MIL-OSI Security: Miske Enterprise Member Sentenced to 7 Years in Federal Prison for Racketeering Conspiracy and Role in Kidnapping and Murder of Johnathan Fraser

Source: Office of United States Attorneys

HONOLULU – Acting United States Attorney Kenneth M. Sorenson announced that Delia Fabro-Miske, 30, of Honolulu, was sentenced yesterday in federal court by U.S. District Judge Derrick K. Watson to 84 months of imprisonment, followed by 3 years of supervised release for racketeering conspiracy. Fabro-Miske pled guilty on January 12, 2024, in the middle of jury selection, to conspiring to conduct and participate in the conduct of the affairs of a racketeering enterprise, the “Miske Enterprise,” through racketeering activity that included bank fraud, obstruction of justice, and wire fraud.

Fabro-Miske admitted that she and codefendant Michael J. Miske committed bank fraud by submitting fraudulent paperwork in order to obtain leases for two vehicles that were used for one of Miske’s businesses. Fabro-Miske also obstructed a joint investigation into another of Miske’s businesses, Kamaaina Termite and Pest Control (“KTPC”), which was conducted by the Environmental Protection Agency and the Hawaii Department of Agriculture (“HDA”). At Miske’s direction, Fabro-Miske submitted to HDA falsified fumigation logs, which claimed that she was the certified applicator of chemicals on hundreds of jobs. In reality, most of the listed jobs were completed by unlicensed applicators. Fabro-Miske also fraudulently obtained Social Security Administration (“SSA”) survivor benefits at Miske’s direction by having her wages at KTPC decreased below the SSA benefits income threshold. At the same time, Miske paid Fabro-Miske in benefits that were not reported to the SSA or Internal Revenue Service.

Additionally, according to information provided to the Court, in or about 2017, Miske placed Fabro-Miske in charge of his businesses in an attempt to preserve and conceal his assets in anticipation of federal prosecution. In practice, Fabro-Miske carried out Miske’s wishes and acted at his direction. Fabro-Miske assisted in a fraudulent scheme committed through Miske’s businesses, which involved submitting false filings to the Department of Commerce and Consumer Affairs that permitted the businesses to operate under fraudulently obtained and maintained licenses. Miske Enterprise members then falsely represented to customers that Miske’s businesses were properly licensed. Between 2017 and 2020, the businesses generated millions of dollars in income annually. As the head of Miske’s businesses, Fabro-Miske was also responsible for the proper and safe application of pesticides and other chemicals at customers’ homes. Information provided to the Court, however, showed that fumigations were regularly conducted without proper supervision or chemicals. Chief Judge Watson stated that Fabro-Miske’s work at Miske’s businesses “funded any number of crimes that we heard months and months of testimony” about in Miske’s trial, and her assistance “allowed Mr. Miske to run rampant in this community.”

Finally, the Court determined that Fabro-Miske was also responsible for participating in a conspiracy with other Miske Enterprise members to kidnap and murder 21-year-old Johnathan Fraser. According to information provided to the Court, Caleb Miske – Miske’s son and Fabro-Miske’s husband – and Fraser were driving together when the two were involved in a car crash in November 2015. Caleb Miske ultimately passed away from his injuries, and Miske blamed Fraser for his son’s death and enlisted several Miske Enterprise members to assist in his plan to murder Fraser. As part of that plan, Miske directed Fabro-Miske to rekindle her friendship with Fraser and his girlfriend and to lure them into living with her at an apartment paid for by Miske. On July 30, 2016, Fabro-Miske took Fraser’s girlfriend on a “spa day” paid for by Miske, ensuring that Fraser would be isolated when he was kidnapped. Fraser was never seen again after that day. Due to Miske’s death in December 2024, Chief Judge Watson explained that “the person most involved in Mr. Fraser’s demise will not ever be sentenced by this Court.” While Chief Judge Watson found that Fabro-Miske did not “directly and personally kill” Fraser and determined her to be a minimal participant in the kidnapping and murder conspiracy, he noted that there was “no doubt” that her actions led to Fraser’s murder and that the circumstances painted a “strong and clear picture” of a conspiracy to commit kidnapping murder in aid of racketeering.

Fabro-Miske was charged alongside twelve other defendants, all of whom pled guilty except for Miske, who proceeded to trial and was found guilty of racketeering conspiracy, murder, and 11 other felony charges on July 18, 2024. Seven other members and associates of the Miske Enterprise pled guilty to various offenses in related cases.

“Delia Fabro-Miske was an integral member of the Miske Enterprise, which terrorized, exploited, and defrauded our community for decades. She participated in Miske’s bank frauds, social security fraud, falsification of fumigation records, and the concealment of Miske’s illegally obtained assets, and was a vital cog in the plot to murder of Johnathan Fraser. Fabro-Miske’s sentence yesterday demonstrates that those who occupy even the lower rungs of Hawaii’s criminal enterprises will pay a steep price when they face justice in federal court,” said Acting U.S. Attorney Ken Sorenson. “The dismantling of the Miske Enterprise represents one of the most significant law enforcement efforts in the history of Hawaii law enforcement, and it would not have been possible without the tremendous and dedicated work of our partners at the Honolulu Division of the Federal Bureau of Investigation, Internal Revenue Service, Homeland Security Investigations, and Environmental Protection Agency, among many others.”

“Ms. Fabro-Miske was a key member in the Miske Enterprise fraud schemes, actively participating in defrauding the government and taxpayers,” said FBI Honolulu Special Agent in Charge David Porter. “This sentencing reflects years of collaboration between FBI Honolulu and our law enforcement partners. The FBI remains steadfast in its commitment to dismantle violent criminal enterprises, hold their members accountable, and pursue justice for victims.”

“Our investigators follow the money because criminal organizations profit at the expense of public safety,” said Adam Jobes, Special Agent in Charge of IRS Criminal Investigation’s Seattle Field Office. “Ms. Fabro-Miske’s racketeering conviction is a reminder that, in the end, crime really doesn’t pay.”

“The sentencing of Ms. Fabro-Miske underscores HSI’s commitment to disrupting and dismantling criminal organizations in Hawaii,” said HSI Special Agent in Charge Lucy Cabral-DeArmas. “HSI will continue to hold accountable those who significantly harm our communities by breaking federal laws. By bringing justice to the Miske Enterprise, HSI sends the message that we will not tolerate any violent activity on our islands.”

“By falsifying documents, defendant obstructed EPA and the state’s criminal investigation of a pesticide applicator that illegally applied restricted use pesticides,” said Benjamin Carr, Special Agent in Charge for the Environmental Protection Agency’s Criminal Investigation Division in Hawaii. “Yesterday’s sentencing reflects the seriousness of defendant’s fraudulent conduct and the importance of complying with pesticide reporting requirements so EPA and Hawaii Department of Agriculture can keep our communities safe.”

This prosecution was part of an Organized Crime Drug Enforcement Task Forces (OCDETF) investigation. OCDETF identifies, disrupts, and dismantles the highest-level drug traffickers, money launderers, gangs, and transnational criminal organizations that threaten the United States by using a prosecutor-led, intelligencedriven, multi-agency approach that leverages the strengths of federal, state, and local law enforcement agencies against criminal networks.

This case was investigated by the Federal Bureau of Investigation, the Internal Revenue Service Criminal Investigation, Homeland Security Investigations, the Criminal Investigation Division of the Environmental Protection Agency, and the Bureau of Alcohol, Tobacco, Firearms, and Explosives, with assistance from the Honolulu Police Department, the Drug Enforcement Administration, the Coast Guard Investigative Service, the United States Marshals Service Fugitive Task Force, the Cybercrime Lab of the Department of Justice Criminal Division Computer Crime and Intellectual Property Section, the Hawaii Criminal Justice Data Center, the Honolulu Fire Department, the Hawaii National Guard, 93rd Civil Support Team, the Office of Investigations–Office of the Inspector General for the Social Security Administration, and the Department of Justice Office of the Inspector General.

Assistant U.S. Attorneys Mark Inciong, Michael Nammar, KeAupuni Akina, and Aislinn Affinito prosecuted the case.

MIL Security OSI –

April 18, 2025
MIL-OSI: CONVENING NOTICE TO THE EXTRAORDINARY AND ORDINARY GENERAL MEETING OF SHAREHOLDERS
Source: GlobeNewswire (MIL-OSI)

UNIFIEDPOST GROUP

Public limited liability company (“naamloze vennootschap” / “société anonyme“) under Belgian law

Registered office at Avenue Reine Astrid 92A, 1310 La Hulpe, Belgium

Company number 0886.277.617

Register of Legal Entities Walloon Brabant

www.unifiedpost.com

CONVENING NOTICE TO THE EXTRAORDINARY AND ORDINARY GENERAL MEETING OF SHAREHOLDERS

The Board of Directors of Unifiedpost Group SA/NV (the Company) has the honour of inviting its shareholders and holders of warrants to attend the Extraordinary and Ordinary General Shareholders’ meeting (the General Meeting), which will be held at Buzzynest, Avenue Reine Astrid 92A, La Hulpe, on Tuesday 20 May 2025 at 19:00 (CET) to consider and vote on the items as listed in the agenda as set out below.

Applicable formalities are detailed at the end of this convening notice. Shareholders may, to the extent indicated, also use the ABN AMRO platform (www.abnamro.com/evoting) to complete all participation formalities and vote by proxy at the General Meeting.

Part 1: Agenda of the Extraordinary General Meeting

The Extraordinary General Meeting will only validly deliberate on the items of its agenda if at least half of the capital is present or represented, in accordance with article 7:153 of the Belgian Companies and Associations Code. If this condition is not met, a new Extraordinary General Meeting with the same agenda will be convened for 17 June 2025. This second Extraordinary General Meeting will validly deliberate irrespective of the number of shares present or represented.

1. Proposal to amend the Articles of Association – Change of the Company Name.

Proposed resolution: Proposal to amend Article 1 of the Articles of Association to change the name of the Company from Unifiedpost Group to Banqup Group.

Part 2: Agenda of the Ordinary General Meeting

1. Communication of the Board of Directors’ annual report and the statutory auditor’s report on the statutory financial statements for the financial year closed on 31 December 2024.

Comment of the Board of Directors: pursuant to articles 3:5 and 3:6 of the Belgian Code on Companies and Associations, the Board of Directors has drafted an annual report in which it accounts for its management. Furthermore, the statutory auditor has drafted a detailed report in accordance with articles 3:74 and 3:75 of the Belgian Code on Companies and Associations. Both reports are available for consultation on the website as from the date of this convening notice. These reports do not need to be approved by the shareholders.

2. Approval of the remuneration report as included in the annual report of the Board of Directors on the statutory financial statements closed on 31 December 2024.

Proposed resolution: approval of the remuneration report for the financial year closed on 31 December 2024.

3. Approval of the statutory financial statements closed on 31 December 2024 including the proposed allocation of the result.

Proposed resolution: approval of the statutory financial statements closed on 31 December 2024 showing a profit in the amount of EUR 37.288.229,77 and of the proposed allocation of the result of EUR 72.931.775,84 as losses carried forward.

4. Communication of the consolidated financial statements of the Company for the financial year closed on 31 December 2024 as well as the annual report of the Board of Directors and the statutory auditor’s report on those consolidated financial statements.

Comment of the Board of Directors: pursuant to article 3:32 of the Belgian Code on Companies and Associations, the Board of Directors has drafted a report on the 2024 consolidated financial statements. Furthermore, the statutory auditor has drafted a detailed report pursuant to article 3:80 of the Belgian Code on Companies and Associations. Both reports are available for consultation on the website as from the date of this convening notice. These reports do not need to be approved by the shareholders.

5. Ratification of the appointment and nomination of Company directors.

Comment of the Board of Directors: in accordance with Article 7:88 of the Companies and Associations Code and Article 16 of the Company’s Articles of Association, and after advise of the Nomination and Remuneration Committee, the Board of Directors unanimously decided to accept:
1. the co-option of Crescemus BV, with company number 0521.873.163, permanently represented by Pieter Bourgeois, as non-executive director, following the resignation of AS Partners BV, permanently represented by Stefan Yee. The co-option took effect on 23 October 2024 and will end immediately after the Ordinary General Meeting of 2026.
2. the co-option of PDMT Investments LLC, with company number 45-2043440, permanently represented by Peter Mulroy, as non- executive, independent director, following the resignation of Sopharth BV, permanently represented by Philippe De Backer. The co-option took effect on 23 October 2024 and will end immediately after the Ordinary General Meeting of 2026. The Board of Directors confirms that, based on the information available to the Company, PDMT Investments LLC, permanently represented by Peter Mulroy, qualifies as an independent director in accordance with the independence criteria set out in Article 7:87, §1 of the Belgian Companies and Associations Code, the 2020 Belgian Corporate Governance Code, and the Company’s Corporate Governance Charter.
Proposed resolutions:
1. the General Meeting decides to ratify the appointment by cooptation of Crescemus BV, with company number 0521.873.163, permanently represented by Pieter Bourgeois, as non- executive director of the Company as of 23 October 2024. In accordance with article 7:88 §1 of the Companies and Associations Code, the General Meeting decides to deviate from the default rule that the mandate of a co-opted director ends when the original mandate would have ended, and instead decides to appoint Crescemus BV, with company number 0521.873.163, permanently represented by Pieter Bourgeois as non- executive director of the Company for a term that will end immediately after the Ordinary General Meeting of 2029. The curriculum vitae of Mr. Pieter Bourgeois is available for consultation on the website. The director will receive an annual remuneration in accordance with the approved remuneration policy.
2. the General Meeting decides to ratify the appointment by cooptation of PDMT Investments LLC, with company number 45-2043440, permanently represented by Peter Mulroy, as non- executive and independent director of the Company as of 23 October 2024. In accordance with article 7:88 §1 of the Companies and Associations Code, the General Meeting decides to deviate from the default rule that the mandate of a co-opted director ends when the original mandate would have ended, and instead decides to appoint PDMT Investments LLC, with company number 45-2043440, permanently represented by Peter Mulroy as non- executive, independent director of the Company for a term that will end immediately after the Ordinary General Meeting of 2029. The Board of Directors confirms that, based on the information available to the Company, PDMT Investments LLC, permanently represented by Peter Mulroy, qualifies as an independent director in accordance with the independence criteria set out in Article 7:87, §1 of the Belgian Companies and Associations Code, the 2020 Belgian Corporate Governance Code, and the Company’s Corporate Governance Charter The curriculum vitae of Mr. Peter Mulroy is available for consultation on the website. The director will receive an annual remuneration in accordance with the approved remuneration policy.
6. Nomination of Company directors.

Proposed resolutions:
1. the General Meeting decides to appoint Quilaudem BV, with company number 0795.086.135, permanently represented by Nathalie Van Den Haute, as non executive director of the Company, for a term of 4 years, that will end immediately after the Ordinary General meeting of 2029. The curriculum vitae of Mrs. Nathalie Van Den Haute is available for consultation on the website. The director will receive an annual remuneration in accordance with the approved remuneration policy.
2. the General Meeting decides to appoint Ahok BV, with company number 0457.927.595, permanently represented by Koen Hoffman, as non- executive, independent director of the Company, for a term of 4 years, that will end immediately after the Ordinary General Meeting of 2029. The Board of Directors confirms that, based on the information available to the Company, Ahok BV, permanently represented by Koen Hoffman qualifies as an independent director in accordance with the independence criteria set out in Article 7:87, §1 of the Belgian Companies and Associations Code, the 2020 Belgian Corporate Governance Code, and the Company’s Corporate Governance Charter. The curriculum vitae of Mr. Koen Hoffman is available for consultation on the website. The director will receive an annual remuneration in accordance with the approved remuneration policy.
3. the General Meeting decides to appoint Leanne Kemp, as non- executive, independent director of the Company, for a term of 4 years, that will end immediately after the Ordinary General Meeting of 2029. The Board of Directors confirms that, based on the information available to the Company, Leanne Kemp qualifies as an independent director in accordance with the independence criteria set out in Article 7:87, §1 of the Belgian Companies and Associations Code, the 2020 Belgian Corporate Governance Code, and the Company’s Corporate Governance Charter. The curriculum vitae of Mrs. Leanne Kemp is available for consultation on the website. The director will receive an annual remuneration in accordance with the approved remuneration policy.
4. the General Meeting decides to appoint Beco Global Consulting LLC, with company number 33-1666922, permanently represented by Nicolas de Beco, as executive director of the Company, for a term of 4 years, that will end immediately after the Ordinary General Meeting of 2029. The curriculum vitae of Mr. Nicolas de Beco is available for consultation on the website. The director will receive an annual remuneration in accordance with the approved remuneration policy.
7. Approval of the updated Remuneration Policy.

Proposed resolution: approval of the updated Remuneration Policy which is available for consultation on the website.

8. Discharge to all members of the Board of Directors of the Company that were in charge for the execution of their mandate in 2024.

Proposed resolution: approval to grant discharge to all individual members of the Board of Directors that were in charge in 2024 for the execution of their mandate for the financial year closed on 31 December 2024.

9. Discharge to the statutory auditor.

Proposed resolution: approval to grant discharge to BDO Réviseurs D’Entreprises SCRL (CBE 0431.088.289), represented by Mrs. Ellen Lombaerts, for the execution of its mandate as statutory auditor of the Company during the financial year closed on 31 December 2024.

10. Approval of the re-nomination of BDO as statutory auditor of the Company from the date of this General Meeting until the General Meeting of 2028.

Proposed resolution: approval of the re-nomination of BDO Réviseurs D’Entreprises SCRL, represented by Mrs. Ellen Lombaerts, as statutory auditor of the Company as of the date of this General Meeting until the General Meeting of 2028. The fee for this assignment amounts to EUR 400.000,00 per year (excluding VAT, expenses, and IBR contribution). This fee includes the audit of the statutory annual accounts, the consolidated annual accounts, and the review of the company’s half-year figures (statutory and consolidated).

11. Appointment of the commissioner responsible for the “assurance” of the CSRD sustainability report for the year 2025.

Proposed resolution: in accordance with the recommendation by the Board of Directors and upon recommendation of the Audit Committee, the appointment of BDO Réviseurs D’Entreprises SRL (CBE 0431.088.289), represented by Mrs. Ellen Lombaerts, responsible for the “assurance” of the sustainability report of the CSRD, for a period of one year. The fee amounts to EUR 70.000,00 per year (excluding VAT, expenses, IBR contribution and any flat- rate expense allowance for technology and compliances costs) for this assignment.

12. Power of Attorney.

Proposed resolution: granting of a power of attorney to Mr. Mathias Baert and Mrs. Hilde Debontridder, choosing as address Avenue Reine Astrid 92A, 1310 La Hulpe, Belgium, as extraordinary proxy holders, with the right to act individually and with powers of sub-delegation, to whom they grant the power, to represent the Company regarding the fulfilment of the filing and disclosure obligations as set out in the Belgian Code on Companies and Associations and all other applicable legislation. This power of attorney entails that the aforementioned extraordinary proxy holders may take all necessary and useful actions and sign all documents relating to these filing and disclosure obligations, including but not limited to filing the aforementioned decisions with the competent registry of the commercial court, with a view to publication thereof in the Annexes to the Belgian Official Gazette.

Practical provisions

Voting and majority

Shareholders who have validly notified their participation in the General Meeting may vote at the meetings. Shareholders may vote (i) in advance in accordance with the instructions set down below, or (ii) where they have not voted in advance, vote during the meetings.

Each share shall have one vote. The proposed resolution under agenda item 1 of part 1 of the agenda shall be passed if this is approved by a majority of 75% of the votes validly cast by the shareholders or their representatives. The proposed resolutions under agenda items 1 to 12 of part 2 of the agenda shall be passed if they are approved by a simple majority of 50% of the votes validly cast by the shareholders or their representatives.

Admission conditions

The right to attend the General Meeting and to exercise voting rights during such meeting shall be granted solely based on the administrative registration of the shares in the shareholder’s name at 23:59:59 (CET) on 6 May 2025 at the latest, after processing of all entries and deletions as of that date, either (i) through the registration of the registered shares in the Company’s shares register, or (ii) in the event of dematerialized shares, by their registration in the accounts of a certified account holder or intermediary, irrespective of the number of shares that the shareholder is holding on the actual date of the General Meeting. The time and date stated above are deemed to be the registration date.

In the event of dematerialized shares, the registration of such shares in the accounts of the relevant certified account holder or intermediary shall be proven through a certificate from the relevant certified account holder or intermediary stating how many dematerialized shares were registered in its accounts in the shareholder’s name on the registration date.

The shareholders shall report on 14 May 2025 at 23:59:59 (CET) at the latest if they wish to participate in the General Meeting. This must be reported via (i) www.abnamro.com/evoting, (ii) by e-mail to secretary.general@unifiedpost.com or (iii) by letter to Unifiedpost Group SA, to the attention of Mathias Baert, Company Secretary, Avenue Reine Astrid 92A, 1310 La Hulpe, Belgium. In the case of dematerialized shares, a statement must be provided by the intervention of a financial intermediary acting on the instruction of the shareholder via www.abnamro.com/intermediary. The intermediaries concerned need to submit a declaration before 15 May 2025 by 13:00 (CET) at the latest that the number of shares held by the participant on the record date and the registration of the shares were notified to ABN AMRO. In addition, the intermediaries are also requested to include the full address details of the relevant underlying shareholders in order to be able to verify in an efficient manner their holding on the record date.

When informing the Company of their intention to participate in the General Meeting in accordance with the previous paragraph, shareholders shall indicate the number of shares in the Company which (i) were held by the represented shareholder at 23:59:59 (CET) on 6 May 2025, after processing of all entries and deletions as of that date, and (ii) with which they intend to vote at the General Meeting, including the name of the representative or intermediary and its contact details (phone number and e-mail).

Holders of warrants are permitted to attend the General Meeting (but not to vote) on the condition of compliance with the admission conditions applicable to shareholders.

The shareholders or their representatives or proxy holders or warrant holders who have fulfilled the participation formalities and have indicated that they intend to physically attend the General Meeting will receive an access card via their financial intermediary in case of dematerialized shares or via ABN AMRO in case of registered shares.

The possibility of submitting agenda items and/or proposed resolutions

In accordance with article 7:130 of the Belgian Code on Companies and Associations, one or more shareholders that jointly hold at least 3% of the capital shall have the right to add items on the agenda of the General Meeting and to submit proposed resolutions concerning such (added) items on the agenda. Such requests are to be submitted by e-mail to secretary.general@unifiedpost.com, no later than on 28 April 2025. More detailed information on the conditions for making use of this option is available on the Company’s website.

On 5 May 2025 at the latest, the agenda, with any such additions, will be published in the Belgian Official Gazette, a national newspaper and a European-wide medium.

Right to ask questions

In accordance with article 7:139 of the Belgian Code on Companies and Associations, shareholders who complied with the above conditions for admission may submit questions in writing concerning the agenda items to the directors and/or the statutory auditor. Such questions are to be submitted by e-mail to secretary.general@unifiedpost.com or by letter to Unifiedpost Group SA, to the attention of Mathias Baert, Company Secretary, Avenue Reine Astrid 92A, 1310 La Hulpe, Belgium and this no later than on 14 May 2025. It will also be possible for shareholders who are physically attending the General Meeting to ask questions during the General Meeting.

These questions, as well as the questions set forth by the shareholders during the General Meeting, will be answered in the course of the General Meeting by, depending on the case, the directors or the statutory auditor. The directors or, as the case may be, the statutory auditor will foresee a reasonable amount of time to answer any questions (+/- 1 hour). Insofar as the communication of data or facts is of a nature to be detrimental to the business interests of the Company or the confidentiality to which the director or Unifiedpost Group have committed themselves, the directors may refuse to answer such questions. The statutory auditor of the Company may also refuse to answer such questions if the communication of data or facts is of a nature to be detrimental to the business interests of the Company or the confidentiality to which the statutory auditor or Unifiedpost Group have committed themselves.

More detailed information on the right to ask questions is available on the Company website (www.unifiedpost.com).

Proxies and voting instructions

Shareholders who wish to be represented by a different person at the General Meeting can indicate this via www.abnamro.com/evoting or via their financial intermediary in case of dematerialized shares no later than 14 May 2025 at 17:00 (CET). In addition, shareholders can make use of the proxy form as prepared by the Board of Directors. This proxy form is available via the website of the Company and the Company’s registered office. This proxy must be filed at the Company’s registered office, for the attention of the Board of Directors, or sent by email to ava@nl.abnamro.com, in either case no later than at 17:00 (CET) on 14 May 2025.

In the event of any discrepancy between the different language versions of this convening notice and the other documents relating to the General Meeting, the French version will prevail.

Availability of documents

All documents relating to the General Meeting (including this convening notice and the aforementioned proxy form) which the law requires to make available to shareholders are accessible on the Company’s website as from 18 April 2025 in French and English.

Privacy notice

The Company is responsible for the processing of the personal data it receives from shareholders, holders of other securities issued by the Company (if any) and proxy holders in the context of the General Meeting of the shareholders in accordance with the applicable data protection legislation. The processing of such personal data will in particular take place for the organization, analysis and management of the participation and voting procedure in relation to the General Meeting, in accordance with the applicable legislation and the Company’s Privacy Policy available at https://www.unifiedpost.com/. These personal data will be transferred to third parties for the purpose of providing assistance in the management of participation and voting procedures, and for analyzing the composition of the shareholder base of the Company. The personal data will not be stored any longer than necessary in light of the aforementioned objectives. Shareholders, holders of other securities issued by the Company and proxy holders can find the Company’s Privacy Policy on the Company’s website. This Privacy Policy contains detailed information regarding the processing of the personal data of, among others, shareholders, holders of other securities issued by the Company and proxy holders, including the rights that they can assert towards the Company in accordance with the applicable data protection legislation. The aforementioned can exercise their rights with regard to their personal data provided to the Company by contacting the Company’s Data Protection Officer via gdpr@unifiedpost.com.

Contact details Unifiedpost Group SA/NV

Public limited liability company (“naamloze vennootschap” / “société anonyme“) under Belgian law with registered office at Avenue Reine Astrid 92A, 1310 La Hulpe, Belgium and registered with the Crossroads Bank for Enterprises under number 0886.277.617.

E-mail: secretary.general@unifiedpost.com

Website: www.unifiedpost.com

Attachments

The MIL Network –
April 18, 2025
MIL-OSI USA: Cantwell Statement on Seafood-Related Executive Order

US Senate News:

Source: United States Senator for Washington Maria Cantwell
04.17.25
Cantwell Statement on Seafood-Related Executive Order
EDMONDS, WA – Today, U.S. Senator Maria Cantwell (D-WA), ranking member of the Senate Committee on Commerce, Science, and Transportation and senior member of the Senate Finance Committee, released this statement regarding President Trump’s executive order related to seafood and fisheries.
“You can’t manage and grow American fisheries when you fire the very scientists and fishery managers who are charged with supporting the more than one million jobs that rely on sustainable fisheries. This executive order comes on the heels of the leaked Trump Administration draft budget which would slash the National Marine Fisheries Service budget by 27 percent and eliminate the Habitat Conservation Program and the Pacific Coastal Salmon Recovery Fund, which fishermen rely on to restore salmon and other fish populations. The administration’s actions are hurting fishing families, not helping them.”

MIL OSI USA News –

April 18, 2025
MIL-OSI USA: Cantwell, Baldwin, Blunt Rochester Demand Answers on Lutnick’s Failure to Protect Minority Business Development Agency
US Senate News:
Source: United States Senator for Washington Maria Cantwell

04.17.25

Cantwell, Baldwin, Blunt Rochester Demand Answers on Lutnick’s Failure to Protect Minority Business Development Agency

As Trump tariffs batter U.S. economy, Lutnick RIFs entire agency that helps boost minority entrepreneurship, ignite economic opportunity & create jobs in rural, suburban & urban communities across the country

WASHINGTON, D.C. – U.S. Senators Maria Cantwell, Ranking Member of the Senate Committee on Commerce, Science and Transportation, Tammy Baldwin (D-Wis.) and Lisa Blunt Rochester (D-Del.) wrote to Trump Commerce Secretary Howard Lutnick demanding documents and full accounting of his actions to shutter the Minority Business Development Agency (MBDA) despite vowing not to support efforts to dismantle it. Today’s letter follows a March 24 letter from Sens. Cantwell and Blunt Rochester, warning Lutnick of the devastating impacts a reduction in force would have on small businesses and the nation’s economy.

“Since sending that letter, our offices have received information indicating the Trump Administration sent reduction-in-force (RIF) notices to every MBDA employee—effectively shuttering an agency that Congress has authorized,” the senators wrote today. “If true, this action would not only prevent MBDA from successfully carrying out its congressionally mandated programs and duties; it would appear to contradict the testimony you provided during your confirmation hearing.”

During his confirmation hearing before the Commerce Committee, Lutnick said he did not support dismantling the agency which was created by President Nixon in 1969 and codified into law by Congress with bipartisan support in 2021. The MBDA is responsible for promoting the growth and global competitiveness of minority owned businesses, including by assisting these businesses with access to capital, contracts, markets and business networks through partnerships with private and public entities. In Fiscal Year 2024 alone, the MBDA helped the country’s more than 12 million minority businesses access over $1.5 billion in capital and create or retain approximately 23,000 jobs.

The full letter is below and here.

Secretary Lutnick:

In a letter sent on March 25, 2025, you were urged to honor your testimony before the Senate Committee on Commerce, Science, and Transportation affirming you do not support efforts to dismantle the Minority Business Development Agency (MBDA).^[1] Since sending that letter, our offices have received information indicating the Trump Administration sent reduction-in-force (RIF) notices to every MBDA employee—effectively shuttering an agency that Congress has authorized. If true, this action would not only prevent MBDA from successfully carrying out its congressionally mandated programs and duties; it would appear to contradict the testimony you provided during your confirmation hearing. Accordingly, we demand a clear and complete explanation of your Department’s actions regarding the MBDA.

As explained in the March 25, 2025, letter, the MBDA is a vital driver of economic growth for America’s minority-owned businesses.^[2] Congress statutorily authorized the agency in a bipartisan manner in 2021 to ensure American entrepreneurs facing historical barriers to business ownership had access to key tools and resources to spur innovation, open new businesses, and create good-paying jobs. In Fiscal Year 2024 alone, the MBDA helped the country’s more than 12 million minority businesses access over $1.5 billion in capital and create or retain approximately 23,000 jobs.^[3] Mindful of the MBDA’s record of success and congressional mandate, we urged you not to move forward with a RIF that would reduce MBDA’s personnel to as few as 3 full-time equivalent (FTE) employees.

Alarmingly, information provided to our offices makes clear the RIF your Department initiated at the MBDA was even more sweeping than we had feared, leaving the agency with effectively no staff. As a result, it is unclear to whom, if anyone, MBDA Business Centers are reporting or who is currently implementing MBDA’s congressionally mandated programs and duties. Your Department appears to have dismantled the MBDA without any act of Congress—disregarding the programs and initiatives the Administration is directed by statute to implement.

The Commerce Committee has a duty to conduct oversight of the agencies and programs under its jurisdiction to ensure they are implemented and operating as Congress intended. Accordingly, please provide the following documents and information no later than May 1, 2025:
- A complete description of the current staffing at MBDA, including the number of FTE employees presently working at the agency (if any), how many FTE employees are presently on administrative leave, and how many MBDA FTE employees have been sent RIF notices since January 20, 2025.
- Copies of all RIF notices sent to MBDA FTE employees since January 20, 2025.
- A complete description of all actions taken by the Department to comply with President Trump’s March 14, 2025, executive order, “Continuing the Reduction of the Federal Bureaucracy.”
- A copy of the report required in the above-referenced March 14, 2025, Executive Order from MBDA to the Director of the Office of Management and Budget confirming compliance with the Executive Order and explaining which of its components or functions are statutorily required and to what extent.
- An explanation of how the Department’s actions regarding the MBDA are consistent with the Administration’s statutory obligations under the Minority Business Development Act of 2021 (Division K of the Infrastructure Investment and Jobs Act, P.L. 117-58).
- An explanation of how the Department’s actions regarding the MBDA during your tenure as Commerce Secretary are consistent with your testimony to the Commerce Committee on January 29, 2025, and in your responses to the corresponding questions for the record. In your response, please specifically address the testimony you provided when asked if you support dismantling the MBDA, to which you responded, “I do not.”
Sincerely,

[1] Hearing, “Nomination Hearing – U.S. Secretary of Commerce”, U.S. Senate Committee on Commerce, Science, and Transportation, (Jan. 29, 2025); https://www.commerce.senate.gov/2025/1/full-committee-nomination-hearing_2_3.

[2] Press Release, “Cantwell, Blunt Rochester Demand Commerce Secretary Lutnick Protect Minority Business Development Agency from Trump’s Overreach”, U.S. Senate Committee on Commerce, Science, and Transportation, (Mar. 24, 2025); https://www.commerce.senate.gov/2025/3/cantwell-blunt-rochester-demand-commerce-secretary-lutnick-protect-minority-business-development-agency-from-trump-s-overreach.

[3] “Annual Performance Summary, Fiscal Year 2024,” Minority Business Development Agency, (accessed Mar. 24, 2025); https://www.mbda.gov/sites/default/files/2025-03/fy-2024-annual-performance-report.pdf.
MIL OSI USA News –
April 18, 2025
MIL-OSI Security: Cherokee County man sentenced to federal prison in drug trafficking conspiracy

Source: United States Bureau of Alcohol Tobacco Firearms and Explosives (ATF)

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

Robert Jessie Martin, 47, pleaded guilty to conspiracy to manufacture and distribute methamphetamine and was sentenced to 220 months in federal prison by U.S. District Judge J. Campbell Barker on April 17, 2025. Judge Barker also entered an order forfeiting to the government Martin’s 75 acre property located in Cherokee County.

According to information presented in court, Martin conspired with others to distribute five kilograms or more of a mixture or substance containing a detectable amount of methamphetamine and 500 grams or more of actual methamphetamine. As part of the conspiracy, Martin set up rotary tablet pill presses on his property near Alto to manufacture and press out hundreds of thousands of counterfeit pills laced with methamphetamine that were then distributed throughout the United States for profit. Martin recruited and supplied wholesale and mid-level distributors of the pills he manufactured.

On July 11, 2023, law enforcement executed a federal search and arrest warrant on Martin’s property located near Alto and seized five firearms, five rotary pill presses, 111.22 grams of actual methamphetamine, approximately 7,669 grams of methamphetamine in powder form, and 29,283 methamphetamine-laced pills.

This case was investigated by Homeland Security Investigations (HSI); HSI Currency Narcotics Enforcement Team-Houston; the Bureau of Alcohol, Tobacco, Firearms and Explosives; the U.S. Drug Enforcement Administration; the Cherokee County Sheriff’s Office; the Jacksonville Police Department; and the Texas Department of Public Safety. This case was prosecuted by Assistant U.S. Attorney Allen Hurst.

###

MIL Security OSI –

April 18, 2025

MIL-OSI Security: Leader and Money Launderer for the KDY Drug Trafficking Crew Sentenced to 160 Months in Federal Prison

Source: United States Bureau of Alcohol Tobacco Firearms and Explosives (ATF)

WASHINGTON – Kenneth Amedola Olugbenga, 29, a leader of and money launderer for the violent Kennedy Street Crew (KDY), was sentenced today to 160 months in federal prison for his role in a massive drug trafficking organization that operated open-air markets in Northwest Washington D.C.

The sentencing was announced by U.S. Attorney Edward R. Martin, Jr., Chief Pamela Smith of the Metropolitan Police Department (MPD), Agent in Charge Ibrar A. Mian of the Drug Enforcement Administration (DEA) Washington Division, Special Agent in Charge Kareem Carter, of the Internal Revenue Service – Criminal Investigation Washington D.C. Field Office , and ATF Special Agent in Charge Anthony Spotswood of the Bureau of Alcohol, Tobacco, Firearms, and Explosives – Washington Field Division.

Olugbenga, of Washington D.C., pleaded guilty Sept. 20, 2024, to a two-count Superseding Information, charging him with conspiracy to distribute 500 grams or more of cocaine, cocaine base, and marijuana and for possessing a firearm in furtherance of a drug trafficking offense. In addition to the 160-month prison sentence, U.S. District Judge Beryl A. Howell ordered Olugbenga to serve four years of supervised release. Judge Howell also ordered Olugbenga to forfeit $374,598.00 as part of his sentence.

KDY members operated open-air drug markets on an 11-block stretch of Kennedy Street in Northwest Washington, D.C., as well as surrounding streets. Like many drug trafficking organizations (DTOs), KDY armed itself with fire power to facilitate the drug trade defend its territory from rival crews and commit other violent crimes. Olugbenga was arrested in June 2023 as part of a coordinated arrest operation in this case and has remained in federal custody since his arrest.

According to court documents, and by his own admission, Olugbenga served as an organizer and leader of the Kennedy Street Crew. Olugbenga was one of the originators of KDY’s drug trafficking operation via commercial flights from California. He served as the lead money launderer for the crew, establishing phony companies that included an auto detailing business to project an illusion of legitimacy for the crew’s drug trafficking. From 2019 until the date of his arrest, Olugbenga also used a local casino to launder $1.8 million in illegal proceeds from drug trafficking. In addition, Olugbenga used one of the phony businesses to apply for and receive a forgivable Economic Injury Disaster Loan (EIDL) from the Small Business Administration during the COVID-19 pandemic. He used the SBA funds to buy more bulk narcotics.

Olugbenga took nearly six dozen roundtrip flights to the West Coast over the course of the four-year conspiracy and spent more than $21,000 on one-way airline tickets in one year alone.

Olugbenga was a bulk supplier of cocaine, both powdered and crack, along with marijuana. He regularly referred customers to other KDY drug trafficking operations when they sought pills or other narcotics that he himself was unable to readily access. He tracked drug expenses and debts within the crew, pooling resources and noting law enforcement seizures over the course of the four-year conspiracy.

He also engaged in drug activity on KDY turf. Within the open-air drug market in Kennedy Street territory, MPD officers conducted 15 controlled purchases from Olugbenga totaling 52.3 grams of cocaine base.

On February 20, 2023, in the 500 block of Emerson Street NW, the MPD’s Fourth District Crime Suppression Team observed a Ford Econoline van driving recklessly as it swerved into oncoming traffic to pass a bicyclist. This van was the same vehicle that Olugbenga had been seen using around the open-air drug market on Kennedy Street since the beginning of the investigation. MPD officers attempted to stop the van, chasing it as it fled. The vehicle eventually stopped near the intersection of 7th and Longfellow Streets NW. Olugbenga abandoned the van and fled on foot. The van was subsequently searched, and law enforcement recovered distribution quantities of crack cocaine and marijuana, a loaded Glock handgun, a drug ledger, and a brochure for one of Olugbenga’s shell companies.

On June 27, 2023, law enforcement arrested Olugbenga and served search warrants at two residences associated with him. At his residence in KDY territory, officers recovered five kilos of marijuana, nearly a kilo of cocaine, and various scales.

Of the 17 KDY members charged in connection with the investigation, 16 have now been sentenced. Co-defendant Jovan Williams, aka Chewy, will be sentenced tomorrow, April 18.

This investigation was conducted under the auspices of the Organized Crime Drug Enforcement Task Force. OCDETF identifies, disrupts, and dismantles the highest-level drug traffickers, money launderers, gangs, and transnational criminal organizations that threaten the United States by using a prosecutor-led, intelligence-driven, multi-agency approach that leverages the strengths of federal, state, and local law enforcement agencies against criminal networks.

This case was investigated by the Metropolitan Police Department, the DEA’s Washington Division, the IRS Criminal Investigation Washington, D.C. Field Office, and ATF’s Washington Field Division.

The matter is being prosecuted by Assistant U.S. Attorneys Matthew W. Kinskey and Sitara Witanachchi, of the of the Violence Reduction and Trafficking Offenses Section of the U.S. Attorney’s Office for the District of Columbia.

KDY DEFENDANTS

NAME	AGE	CHARGES/SENTENCES
Kenneth Ademola Olugbenga	29	Sentenced March 17, 2025, to 360 Months in Prison after Pleading Guilty to Conspiracy to Distribute and Possess with the Intent to Distribute 500 Grams or more of Cocaine Base, and a Detectable Amount of Marijuana; and Possessing a Firearm in Furtherance of a Drug Trafficking Offense.
Khali Ahmed Brown, aka “Migo Lee”	24	Sentenced January 16, 2025, to 168 Months after Pleading Guilty to Conspiracy to Distribute 100 Kilograms or More of Marijuana and 400 Grams or More of Fentanyl and Oxycodone; Possession of a Firearm in Furtherance of a Drug Trafficking Offense; and Assault with a Dangerous Weapon.
Keion Michael Brown	21	Sentenced January 16, 2025, to 147 Months for Conspiracy to Distribute 100 Kilograms or More of Marijuana and Oxycodone and Possessing a Firearm in Furtherance of a Drug Trafficking Crime.
Miasiah Jamal Brown, aka “Michael Jamal Crawford”	23	Sentenced August 16, 2024, to Five Years for Possessing a Firearm in Furtherance of a Drug Trafficking Crime.
Tristan Miles Ware, aka “Greedy”	24	Sentenced December 13, 2024, to 120 Months for Conspiracy to Distribute 100 Kilos of Marijuana; and Possessing a Firearm During a Drug Trafficking Crime.
Jovan Williams, aka “Chewy” and “Choo”	20	Sentencing Scheduled for April 18, 2025. Pleaded Guilty to Conspiracy to Distribute 100 Kilograms or More of Marijuana and Armed Carjacking.
Herman Eric-Bibmin Signou, aka “Herman Signour”	25	Sentenced March 22, 2024, to 40 Months for Conspiracy to Distribute and Possess with Intent to Distribute 100 Kilograms of More of Marijuana
Cameron Xavier Reid	28	Sentenced May 31, 2024, to 60 Months for Conspiracy to Distribute 100 Kilograms of More of Marijuana.
Warren Lawrence Fields, III, aka B-Dub	26	Sentenced May 16, 2024, to 60 Months for Possessing a Firearm During a Drug Trafficking Offense and for Conspiracy to Commit Money Laundering.
Juwan Demetrius Clark, aka “Squirrel”	28	Sentenced January 10, 2025, to 37 Months for Conspiracy to Commit Money Laundering.
Aaron DeAndre Mercer, aka “Curby,”	34	Sentenced September 13, 2024, to 120 Months for Conspiracy to Distribute 400 Grams or More of Fentanyl, Marijuana, and Cocaine Base.
David Penn, aka “Turtle”	32	Sentenced November 15, 2024, to 220 Months for Conspiracy to Distribute Marijuana, 40 Grams or More of Fentanyl, and a Mixture of Cocaine Base; and Two Counts of Possessing a Firearm in Furtherance of a Drug Trafficking Offense.
Ronald Lynn Dorsey, aka “Ron G” and “HBGeezy”	31	Sentenced September 13, 2024, to 30 Months for Conspiracy to Commit Money Laundering.
Antonio Reginald Bailey, aka “Boy Boy,” and “Fellow King”	24	Sentenced February 8, 2024, to 24 Months for Receiving a Firearm While Under Indictment.
Anthony Trayon Bailey, aka “Fat Ant,” and “Bizzle”	29	Sentenced April 26, 2024, to 15 Months for Conspiracy to Distribute 100 Kilograms or More of Marijuana, 400 Grams or More of Fentanyl, and a Mixture and Substance Containing a Detectable Amount of Cocaine Base.
Angel Enrique Suncar, aka “Coqui”	31	Sentenced December 12, 2024, to 60 Months for Possessing a Firearm During a Drug Trafficking Crime.
Adebayo Adediji Green	31	Sentenced August 16, 2024, to 60 Months for Possessing a Firearm in Furtherance of a Drug Trafficking Crime.

Defendant Cameron Reid is from Falmouth, VA; all remaining defendants are from Washington, D.C.

Kenneth Olugbenga photographed at the local casino where he laundered illicit drug proceeds.

Olugbenga frequented the open-air drug market in the Kennedy Street Corridor, often with his panel van or one of several sedans he operated.

At Olugbenga’s residence in KDY territory, officers recovered nearly five kilograms of marijuana, and nearly a kilogram of cocaine.

23cr202

MIL Security OSI –

April 18, 2025

MIL-OSI USA: SCHUMER: UNDER GOP PLAN TO CRIPPLE MEDICAID, ROCKLAND COUNTY WOULD BE AMONG HARDEST HIT IN THE COUNTRY, RIPPING AWAY HEALTHCARE, SENIORS COULD BE KICKED OUT OF NURSING HOMES, & LAYOFFS AT LARGEST…

US Senate News:

Source: United States Senator for New York Charles E Schumer
Last Week House Republicans Voted To Advance The Biggest Medicaid Cut In History -$880 BILLION; Senator Says It Would Be A Dagger To Heart Of Rockland County With Over 150,000 On Medicaid, One Of Highest Percentages Of Beneficiaries In The State, Including Nearly Half Its Children
New Reports Show NY-17 Could Lose Whopping $2+ Billion Under GOP Cuts, Hammering Hospitals, Nursing Homes & Clinics – Devastating Regional Healthcare With 31,000 Workers At 15 Hospitals & 51 Nursing Homes
Schumer: Rockland County May Be Where The Fate Of Medicaid In America Is Decided, NY Republicans Must Show Which Side They Are On
On national Medicaid Matters Day of Action, just a week after Congressional Republicans voted for the second time to enact the largest cuts to Medicaid in American history, U.S. Senate Minority Leader Chuck Schumer stood with Hudson Valley healthcare leaders, seniors, nurses, and concerned families at Helen Hayes Hospital to break down how the GOP plan would be a dagger to the heart of Rockland County’s healthcare system.
Schumer detailed how the proposed $880 billion cut from Medicaid could directly impact over 150,000 in Rockland on Medicaid and millions more across the nation ripping away healthcare for seniors and kids alike, devastating Rockland’s largest employers, and forcing counties to fill a massive budget gap. The senator called on NY House Republicans to block Trump’s plan to decimate Medicaid.
“The future of Medicaid in America may be decided right here in the Hudson Valley. If these cuts go through, Rockland County would be hit first and among the hardest in the country. It would blow a crater in the Hudson Valley’s healthcare system. Hospitals like Helen Hayes say they don’t know how they’d recover from the loss of funding. Jawonio, one of Rockland’s largest employers and a lifeline for people with disabilities, gets over 70% of their budget through Medicaid. Many fear these cuts would go so deep it would not only slash services but they could lead to devastating layoffs for the 31,000 healthcare workers in NY-17,” said Senator Schumer. “Seniors could be kicked out of nursing homes, addiction recovery centers decimated worsening the opioid crisis, and nearly 50% of children in the district who rely on Medicaid could be left without a safety net. We are in the fight of our lifetime to block the Republican plan to gut Medicaid by $880 billion. It only takes a few NY House Republicans to stop the largest Medicaid cut in history and we need NY Republicans to show us which side they are on with their actions.”
Schumer said Medicaid is a lifeline and an $880 billion cut could force healthcare facilities to cancel services, lay off staff, rip away healthcare for thousands of seniors and kids, all while forcing counties to fill a huge budget gap resulting from these Medicaid cuts. NY-17 specifically has one of the highest percentages in the state of those covered under Medicaid at 35% and one of the highest percentages of children covered at 46%. According to NYSDOH:
Over 156,000 children are enrolled in Medicaid in NY-17 receiving $742 million in funding. Across NY-17, 62% of children under 6 and 39% of children ages 6-18 are on Medicaid.
Nearly 45,000 seniors in NY-17 receive $1.3 billion in Medicaid benefits.
Over 25,000 people with disabilities in NY-17 are enrolled in Medicaid receiving $1.4 billion.
While the full extent of Republican cuts to Medicaid is not yet known, a study by the Center for American Progress found the current proposal could lead to a whopping more than $2 billion loss for NY-17. The Senator said Rockland has long been a hub for the healthcare sector supporting 31,000 healthcare workers at 15 hospitals & 51 nursing homes, making this proposal especially dire for the region.
The GOP’s $880 billion in cuts would inevitably shift the costs of care to states, resulting in agonizing decisions with county executives and state legislators forced to decide where to make up for the huge budget hole caused by a near insurmountable loss in federal funding. Counties like Rockland could be forced to shoulder the burden of increased costs in Medicaid, using more local dollars to provide coverage because less federal funding will be coming in. Schumer said while some Congressional Republicans claim this plan won’t cut Medicaid, the non-partisan Congressional Budget Office found the GOP plan could not be reached without reducing the funding that goes to Medicaid. There is no way to protect Medicaid benefits if Republicans move ahead with these cuts.
Schumer added, “NY Republicans are tying themselves in knots to try to justify these cuts, but the math shows you cannot move forward with this plan without hurting our seniors, families, and healthcare providers who rely on Medicaid. Trump wants these cuts for one reason: to pay for tax cuts for billionaires. They are trying to use smoke and mirrors with bogus claims of this $880 billion only stopping fraudsters but nobody, especially not in the Hudson Valley, is buying that BS.”
Across the Hudson Valley, thousands of New Yorkers have been rallying to protect Medicaid, and earlier this month, Rockland County legislators unanimously passed a resolution urging Congress to protect Medicaid funding because of how reliant the area is on this funding.
Helen Hayes Hospital is 34% reliant on Medicaid. The hospital, which is one of the oldest and premier rehabilitation centers in the nation, helps treat New Yorkers recovering from disabling injuries and illnesses. Jawonio, Rockland’s 5th biggest employer with over 900 staff, provides 3,500 children and adults with disability, mental health, education, and other services is 73% reliant on Medicaid and said if these cuts went through would slash healthcare services for thousands across the Hudson Valley. In total, 15 Hospitals & 51 Nursing Home facilities across NY-17 could face devastating Medicaid cuts: Westchester Medical Center received $265 million from Medicaid and has over 9,000 employees. St. John’s Riverside Hospital receives $200 million from Medicaid and has nearly 1,800 full-time employees. Blythedale Children’s Hospital receives $75 million from Medicaid and has approximately 462 full-time employees. United Hebrew Geriatric Center receives $15 million from Medicaid and has approximately 271 full-time employees. The New Jewish Home, Sarah Neuman receives $26 million from Medicaid and has approximately 374 full-time employees. Along with many others including community health centers like Refuah and Sun River.
New York State Health Commissioner Dr. James McDonald said, “Medicaid makes healthcare possible for the most vulnerable among us. Cuts to Medicaid hurt everyone. Make no mistake: these proposed Medicaid cuts will broaden health disparities. These cuts aren’t just numbers on a page – they’re going to hurt real people in every corner of New York.”
“Medicaid is essential to ensuring access to rehabilitation and long-term support for people recovering from serious injuries and illnesses, and those living with disabilities,” said Yvonne Evans, Acting Chief Executive Officer of New York State Department of Health’s Helen Hayes Hospital. ”We see daily how important this coverage is for our patients and their families. Protecting Medicaid means protecting health, independence, and dignity and we thank Sen. Schumer, Gov. Hochul and Dr. McDonald for their support.”
“Any potential cuts to Medicaid funding could have devastating effects on both the individuals who rely on it and the providers who support them. Reduced funding could lead to fewer resources…increased workloads…and the inability to provide necessary services. Medicaid is indispensable for people with disabilities,” said Randi Rios-Castro, CEO of Jawonio.
“Everyone deserves high-quality healthcare, including affordable doctors’ appointments and low-cost prescriptions,” said Carolyn Martinez-Class, Campaign Manager for Invest in Our New York. “Taking away 7 million New Yorkers’ ability to live healthy lives, especially to pay for tax breaks for the obscenely rich, is absolutely unacceptable. We expect every New York representative to follow Senator Schumer’s lead by opposing these devastating cuts and standing up for the communities they represent.”
“Westchester Medical Center, Maria Fareri Children’s Hospital, and the Behavioral Health Center are safety-net hospitals serving all patients, regardless of their ability to pay,” said David Lubarsky, MD, MBA, President and CEO of the Westchester Medical Center Health Network (WMCHealth). “As regional referral centers, these hospitals handle over 12,000 transfers annually, providing advanced care to the critically ill. As the largest Medicaid provider in the region, serving one in three Medicaid patients, any cuts to Medicaid would restrict access for underserved Hudson Valley communities, deter preventive care, increase untreated conditions, and heighten reliance on emergency departments. This burdens patients and strains public hospitals. Sustained support is critical to meet our region’s complex healthcare needs.”
Schumer warned that Medicaid serves as a lifeline for more than 7 million New Yorkers and is the primary payer for long-term care in the United States, including at nursing homes and for people living at home. Medicaid pays for services for 2 in 3 nursing home residents. Families will have nowhere else to turn if Medicaid is cut, and millions of people will be left trying to figure out how to access the care and services they rely on every day.
Nearly 1 in 4 Medicaid enrollees are eligible for the program because they are ages 65 and older or have a disability. Proposals to limit federal spending on Medicaid will force states to consider dropping or limiting eligibility or coverage for seniors and people with disabilities to make up for a huge budget hole with fewer federal dollars coming to New York. Loss of Medicaid coverage poses unique challenges for seniors and people with disabilities, people who are likely to live on fixed incomes, have high health care spending, and rely on Medicaid for help with everyday life and for coverage of long-term care.

MIL OSI USA News –

April 18, 2025
MIL-OSI USA: Democratic senators press Social Security Administration on reports of ‘dangerous’ employee cuts

US Senate News:

Source: United States Senator for Massachusetts – Elizabeth Warren

April 14, 2025

Several Democratic senators are demanding answers from the Social Security Administration following reports that the agency may make staff cuts to a significant department within the agency.

The Social Security Administration is reportedly considering additional workforce reductions, including a potential 50% cut in the Office of the Chief Investment Officer. The department, otherwise known as OCIO, is responsible for protecting sensitive data, maintaining benefit claims processing systems, and managing the agency’s website and online portal.

The prospective cuts come as the SSA has already had “ongoing issues” with its website, Sens. Elizabeth Warren, D-Mass., Kirsten Gillibrand, D-N.Y., and Ron Wyden, D-Ore., wrote in a letter dated April 13 to Social Security Administration acting Commissioner Leland Dudek.

“We are concerned these cuts will lead to further website and benefit disruptions, preventing tens of millions of Americans from accessing their hard-earned Social Security and Supplemental Security Income benefits,” the senators wrote.

A Social Security Administration spokesperson acknowledged the agency had received the letter and will respond to the senators.

“There has not been a reduction in workforce. Rather, to improve the delivery of services, staff are being reassigned from regional offices to front-line help – allocating finite resources where they are most needed,” White House spokesperson Elizabeth Huston said in an email to CNBC.

“President Trump will continue to always protect Social Security and there will be no disruptions to service,” Huston said.

The senators, however, cited disruptions for prompting them to write the letter.

The Social Security Administration website has crashed repeatedly and suffered outages, the senators wrote. The lawmakers previously wrote a letter to the agency asking about a March 31 issue that prompted some beneficiaries to receive messages that they are “not receiving payments” and see their account histories disappear.

In addition, the agency’s field offices are also experiencing glitches that impact their ability to serve the public, according to the senators.

The cuts to OCIO would be “intentional – and dangerous,” the lawmakers wrote. The OCIO staff know the agency’s programming language and can keep its systems running, the senators said.

President Donald Trump on March 27 signed an executive order ending collective bargaining for many federal workers. Because OCIO employees are represented by a union, that would affect them. The executive order makes it easier to replace existing employees with complacent personnel from the so-called Department of Government Efficiency, according to the senators.

The Social Security Administration was already at a 50-year staffing low when the Trump administration took office, the lawmakers note. Since then, the agency has announced plans to cut its force by more than 12%.

“We ask that you immediately cease all OCIO firings and act swiftly to restore SSA system and website functionality to prevent any further disruption of Social Security beneficiaries’ access to their account information and benefits,” the senators wrote.

The letter follows an April 10 letter sent by 21 senators, led by Sens. Gillibrand and Wyden, demanding that the Trump administration stop attacks on the agency, following plans for staffing cuts, field office closures and reduced phone services.

Democratic senators have also launched a “war room” to work to fight the changes that are happening at the Social Security Administration. As part of that initiative, the leaders are planning to propose legislation that would provide an emergency $200 per month boost to benefits through the end of the year, according to a source familiar with the situation.

Last week, it was reported that the Social Security Administration would no longer use press releases and “dear colleague” letters to advocacy groups and third parties to communicate with the public, and instead shift its communications exclusively to Elon Musk’s social media platform X. The report also suggested the Social Security Administration plans to reduce its regional workforce by approximately 87%.

White House spokesperson Huston said that that report is “misleading.”

“The Social Security Administration is actively communicating with beneficiaries and stakeholders. There has not been a reduction in workforce,” she said.

By: Lorie Konish
Source: CNBC

MIL OSI USA News –

April 18, 2025
MIL-OSI Security: Owner of Money Service Business Faces Federal Charges for Laundering Drug Proceeds

Source: Office of United States Attorneys

PORTLAND, Ore.—The owner and operator of La Popular, a money service business with locations in Oregon and Washington, was arraigned in federal court today after she was charged with laundering drug proceeds.

Brenda Lili Barrera Orantes, 39, a Guatemalan national residing in Beaverton, Oregon, has been charged by criminal complaint with money laundering.

According to court documents, between 2021 and 2024, Barrera Orantes is alleged to have accepted cash from drug proceeds and wired the funds through La Popular stores in Oregon and Washington. In return, Barrera Orantes charged a ten percent commission. Barrera Orantes is further alleged to have worked with others to divide large sums of money into several smaller transactions and used fictitious sender information to conceal her money laundering activities. Financial records indicate that Barrera Orantes transferred more than $89 million through her La Popular stores, including $18.5 million to regions in Mexico and Honduras that are associated with drug trafficking organizations.

“This investigation has revealed the pivotal role that money service businesses play in laundering the enormous proceeds of trafficking illegal drugs in our community,” said Katie de Villiers, Chief of the Asset Recovery and Money Laundering Division for the District of Oregon. “The amount of dirty money allegedly flowing through these small businesses and back to Mexico and Honduras is truly staggering. We intend to hold accountable the operators of these businesses who profit by assisting drug trafficking organizations in laundering their proceeds.”

“Because crime is such a coordinated effort, it is critical that we respond in kind,” said Special Agent in Charge Adam Jobes, IRS Criminal Investigation (IRS-CI), Seattle Field Office. “IRS-CI specializes in fighting illicit financial activity, and we are proud to partner closely with our law enforcement partners to keep our communities safe.”

“Money laundering allows drug traffickers to thrive in the shadows, and by severing their cash flow we are striking at the very thing that incentivizes their illicit pursuits,” said ICE Homeland Security Investigations Seattle acting Special Agent in Charge Matthew Murphy. “By stopping those that try to conceal criminal profits, communities are protected from the violence, addiction, and instability caused by the drug trade.”

“The defendant in this case is suspected of providing financial support to overseas drug organizations under the guise of business transactions,” said FBI Portland Special Agent in Charge Doug Olson. “These are serious allegations that cause significant harm to our communities. We will never tolerate individuals who profit from activities that support a drug epidemic that harms our citizens.”

On April 16, 2025, investigators executed federal search warrants at Barrera Orantes’ residence and three La Popular stores located in Beaverton, Hillsboro, Oregon, and Vancouver, Washington. Barrera Orantes was arrested in Beaverton without incident.

Barrera Orantes made her first appearance in federal court today before a U.S. Magistrate Judge. She was ordered detained pending further court proceedings.

If convicted, Barrera Orantes faces a maximum sentence of 20 years in federal prison, five years’ supervised release, and a fine of $500,000 or twice the value of the money laundered.

This case is being investigated by the IRS-CI, Homeland Security Investigations (HSI), FBI, and the Westside Interagency Narcotics team. It is being prosecuted by Christopher L. Cardani and Julia Jarrett, Assistant U.S. Attorneys for the District of Oregon.

The Westside Interagency Narcotics team is a High Intensity Drug Trafficking Area (HIDTA) Task Force and is composed of members from the Washington County Sheriff’s Office, Beaverton Police Department, Hillsboro Police Department, FBI, HSI, and the Oregon National Guard. The Oregon-Idaho HIDTA program is an Office of National Drug Control Policy (ONDCP) sponsored counterdrug grant program that coordinates with and provides funding resources to multi-agency drug enforcement initiatives.

A criminal complaint is only an accusation of a crime, and a defendant is presumed innocent unless and until proven guilty.

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

The case was investigated under the Organized Crime Drug Enforcement Task Forces (OCDETF). OCDETF identifies, disrupts, and dismantles the highest-level criminal organizations that threaten the United States using a prosecutor-led, intelligence-driven, multi-agency approach. For more information about Organized Crime Drug Enforcement Task Forces, please visit Justice.gov/OCDETF.

Since 2018, IRS-CI has maintained a Third Party Money Laundering (3PML) Project. This project focuses on Complicit Money Service Businesses (MSB) working for Mexican Drug Trafficking Organizations. The purpose of this project is to develop high-impact 3PML cases for IRS-CI and other agencies across the United States, by utilizing data analytics.

MIL Security OSI –

April 18, 2025
MIL-OSI USA: Cantwell Celebrates Wenatchee Confluence Parkway Groundbreaking, Made Possible by Her Freight-Focused Grant Program

US Senate News:

Source: United States Senator for Washington Maria Cantwell
04.17.25
Cantwell Celebrates Wenatchee Confluence Parkway Groundbreaking, Made Possible by Her Freight-Focused Grant Program
Project is part of the Apple Capital Loop, which received $92M from Cantwell-led program & will help Central WA’s tree fruit growers get their products to market faster; Cantwell: “I can tell you one thing: Wenatchee is on the move”
WENATCHEE – Today, U.S. Senator Maria Cantwell (D-WA), ranking member of the Senate Committee on Commerce, Science, and Transportation and senior member of the Senate Finance Committee, joined local leaders in a groundbreaking celebration for the Confluence Parkway Phase I project, the next step of the Wenatchee Valley’s 15-year effort to expand its transportation network.
“When you’re making infrastructure investment, you should try to prioritize projects that move freight – and that is because they grow jobs, they grow the economy, they help us get products to market,” Sen. Cantwell said. “I just want to give my congratulations today to everybody that’s been working hard on this. I know that the Confluence project obviously is going to solve some of those transportation challenges by reducing that congestion – 4,000 trucks travel through the area each day, as well as 24 trains […] all of this is going to make Wenatchee a little bit better, from this transportation infrastructure investment.”
“What a great day for the Confluence Project. What a great day for Wenatchee,” she continued. “I can tell you one thing: Wenatchee is on the move.”
Phase I of the Confluence Parkway Project will include:
Elimination of two highway rail grade crossings by constructing an underpass at McKittrick Street and an overpass North Miller Street
1.25 miles of new street for motorists, pedestrians, and bicyclists
Extension of McKittrick Street from North Wenatchee Ave to the waterfront
New signalized intersection at Maple Street
New roundabout intersection
Direct access to parks and trails
The Confluence Parkway project is part of the Wenatchee’s transformative Apple Capital Loop, a network of projects that make up the transportation backbone for Chelan and Douglas Counties and includes several key components that provide connectivity for freight, vehicles, bicycles, and pedestrians. Planning for the Apple Capital Loop began 15 years ago when the City of Wenatchee and regional partners started working on a transportation solution to meet the demands of the local Wenatchee Valley, which is the economic, government, medical, and services center of the region. Overall, Apple Capital Loop project will increase the traffic capacity of the Loop by about 60,000 vehicles per day, saving freight and motorists 32 million hours over the next 20 years – that’s 4,000 fewer hours spent in traffic, every day, for the next two decades. The project will also significantly improve wildfire safety for the region by adding two new evacuation routes out of Wenatchee.
In 2021, the project received a $92 million federal grant from the Infrastructure for Rebuilding America (INFRA) program, $80 million of which is being used by this Phase I of the Confluence Parkway project. The reminder will be used to support future phases. The INFRA grant program was imagined, developed, and pushed through Congress by Sen. Cantwell as part of the FAST Act of 2015 and received a 78% funding increase in the 2021 Bipartisan Infrastructure Law, bringing the program’s total funding $8 billion. The INFRA Program provides financial support to nationally and regionally significant freight and highway projects. In 2022, Sen. Cantwell joined then-Department of Transportation Secretary Pete Buttigieg in Wenatchee to celebrate the $92 million INFRA grant award.
The Wenatchee Valley is a key transportation hub for Washington state’s $2.6 billion tree fruit industry. According to the City, $1 billion worth of tree fruit travels through Wenatchee’s transportation network annually in order to reach terminals around the Puget Sound for distribution. This activity has resulted in increased congestion and delayed freight access to nearby cold storage facilities and fruit packing warehouses on North Wenatchee Avenue.
Video of the press conference is available HERE; audio is HERE; and a transcript of Sen. Cantwell’s speech is HERE.

MIL OSI USA News –

April 18, 2025
MIL-OSI Security: Honduran National Sentenced to 10 Years in Federal Prison for Trafficking Fentanyl

Source: Office of United States Attorneys

PORTLAND, Ore.— Juan Jose Varela-Espinoza, 31, a Honduran national residing in Portland, was sentenced Wednesday to 120 months in federal prison and five years’ supervised release for possessing nearly 16 pounds of powdered fentanyl, 57,700 fentanyl pills, and a stolen firearm.

According to court documents, in July 2023, the Multnomah County Dangerous Drug Team (DDT) learned that Varela-Espinoza was distributing thousands of fentanyl pills in Portland.

On July 25, 2023, the U.S. Marshals Service (USMS) requested assistance from Multnomah County DDT with locating and arresting Varela-Espinoza on an outstanding felony warrant for distributing dangerous drugs in Colorado. The same day, law enforcement executed a federal search warrant on Varela-Espinoza’s residence and vehicles. Investigators arrested Varela-Espinoza and seized nearly 16 pounds of powdered fentanyl, 57,700 fentanyl pills, $5,042 in cash, a stolen firearm, ammunition, and two pill press machines.

On August 8, 2023, a federal grand jury in Portland returned a three-count indictment charging Varela-Espinoza with conspiracy to possess and possessing fentanyl with the intent to distribute and possessing a firearm in furtherance of a drug trafficking crime.

On December 10, 2024, Varela-Espinoza pleaded guilty to possessing fentanyl with the intent to distribute.

This case was investigated by the Multnomah County DDT and was prosecuted by Kemp L. Strickland, Assistant U.S. Attorney for the District of Oregon.

The Multnomah County DDT is supported by the Oregon-Idaho High-Intensity Drug Trafficking Area (HIDTA) and is composed of members from the Multnomah County Sheriff’s Office, Multnomah County Parole and Probation, Gresham Police Department, the FBI and USMS.

The Oregon-Idaho HIDTA program is an Office of National Drug Control Policy (ONDCP) sponsored counterdrug grant program that coordinates with and provides funding resources to multi-agency drug enforcement initiatives.

MIL Security OSI –

April 18, 2025

MIL-OSI: Purpose Investments Inc. Announces April 2025 Distributions

Source: GlobeNewswire (MIL-OSI)

TORONTO, April 17, 2025 (GLOBE NEWSWIRE) — Purpose Investments Inc. (“Purpose”) is pleased to announce distributions for the month of April 2025 for its open-end exchange-traded funds and closed-end funds (“the Funds”).

The ex-distribution date for all Open-End Funds is April 28, 2025. The ex-distribution date for all closed-end funds is April 30, 2025.

Open-End Funds	Ticker Symbol	Distribution per share/unit	Record Date	Payable Date	Distribution Frequency
Apple (AAPL) Yield Shares Purpose ETF – ETF Units	APLY	$0.1667	04/28/2025	05/02/2025	Monthly
Purpose Canadian Financial Income Fund – ETF Series	BNC	$0.1225¹	04/28/2025	05/02/2025	Monthly
Purpose Global Bond Fund – ETF Units	BND	$0.0840	04/28/2025	05/02/2025	Monthly
Berkshire Hathaway (BRK) Yield Shares Purpose ETF – ETF Units	BRKY	$0.1000	04/28/2025	05/02/2025	Monthly
Purpose Bitcoin Yield ETF – ETF Units	BTCY	$0.0850	04/28/2025	05/02/2025	Monthly
Purpose Bitcoin Yield ETF – ETF Non-Currency Hedged Units	BTCY.B	$0.0970	04/28/2025	05/02/2025	Monthly
Purpose Bitcoin Yield ETF – ETF USD Units	BTCY.U	US $0.0815	04/28/2025	05/02/2025	Monthly
Purpose Credit Opportunities Fund – ETF Units	CROP	$0.0875	04/28/2025	05/02/2025	Monthly
Purpose Credit Opportunities Fund – ETF USD Units	CROP.U	US $0.0975	04/28/2025	05/02/2025	Monthly
Purpose Ether Yield – ETF Units	ETHY	$0.0405	04/28/2025	05/02/2025	Monthly
Purpose Ether Yield ETF – ETF Non-Currency Hedged Units	ETHY.B	$0.0500	04/28/2025	05/02/2025	Monthly
Purpose Ether Yield ETF – ETF Units Non-Currency Hedged USD Units	ETHY.U	US $0.0395	04/28/2025	05/02/2025	Monthly
Purpose Global Flexible Credit Fund – ETF Units	FLX	$0.0461	04/28/2025	05/02/2025	Monthly
Purpose Global Flexible Credit Fund – Non-Currency Hedged – ETF Units	FLX.B	$0.0551	04/28/2025	05/02/2025	Monthly
Purpose Global Flexible Credit Fund – Non-Currency Hedged USD – ETF Units	FLX.U	US $0.0385	04/28/2025	05/02/2025	Monthly
Purpose Global Bond Class – ETF Units	IGB	$0.0860¹	04/28/2025	05/02/2025	Monthly
Microsoft (MSFT) Yield Shares Purpose ETF – ETF units	MSFY	$0.1100	04/28/2025	05/02/2025	Monthly
Purpose Enhanced Premium Yield Fund – ETF Series	PAYF	$0.1375¹	04/28/2025	05/02/2025	Monthly
Purpose Total Return Bond Fund – ETF Series	PBD	$0.0590¹	04/28/2025	05/02/2025	Monthly
Purpose Core Dividend Fund – ETF Series	PDF	$0.1050¹	04/28/2025	05/02/2025	Monthly
Purpose Enhanced Dividend Fund – ETF Series	PDIV	$0.0950¹	04/28/2025	05/02/2025	Monthly
Purpose Real Estate Income Fund – ETF Series	PHR	$0.0720¹	04/28/2025	05/02/2025	Monthly
Purpose International Dividend Fund – ETF Series	PID	$0.0780	04/28/2025	05/02/2025	Monthly
Purpose Monthly Income Fund – ETF Series	PIN	$0.0830¹	04/28/2025	05/02/2025	Monthly
Purpose Multi-Asset Income Fund – ETF Units	PINC	$0.0840	04/28/2025	05/02/2025	Monthly
Purpose Conservative Income Fund – ETF Series	PRP	$0.0600¹	04/28/2025	05/02/2025	Monthly
Purpose Premium Yield Fund – ETF Series	PYF	$0.1100¹	04/28/2025	05/02/2025	Monthly
Purpose Premium Yield Fund Non-Currency Hedged – ETF Series	PYF.B	$0.1230¹	04/28/2025	05/02/2025	Monthly
Purpose Premium Yield Fund Non-Currency Hedged – ETF USD Series	PYF.U	US $0.1200¹	04/28/2025	05/02/2025	Monthly
Purpose Core Equity Income Fund – ETF Series	RDE	$0.0875¹	04/28/2025	05/02/2025	Monthly
Purpose Emerging Markets Dividend Fund – ETF Units	REM	$0.0950	04/28/2025	05/02/2025	Monthly
Purpose Canadian Preferred Share Fund – ETF Units	RPS	$0.0950	04/28/2025	05/02/2025	Monthly
Purpose US Preferred Share Fund – ETF Series	RPU	$0.0940	04/28/2025	05/02/2025	Monthly
Purpose US Preferred Share Fund Non-Currency Hedged – ETF Units2	RPU.B / RPU.U	$0.0940	04/28/2025	05/02/2025	Monthly
Purpose Strategic Yield Fund – ETF Units	SYLD	$0.0970	04/28/2025	05/02/2025	Monthly
AMD (AMD) Yield Shares Purpose ETF – ETF Series	YAMD	$0.2000	04/28/2025	05/02/2025	Monthly
Amazon (AMZN) Yield Shares Purpose ETF- ETF Units	YAMZ	$0.4000	04/28/2025	05/02/2025	Monthly
Broadcom (AVGO) Yield Shares Purpose ETF – ETF Series	YAVG	$0.1500	04/28/2025	05/02/2025	Monthly
Coinbase (COIN) Yield Shares Purpose ETF – ETF Series	YCON	$0.3000	04/28/2025	05/02/2025	Monthly
Costco (COST) Yield Shares Purpose ETF – ETF Series	YCST	$0.1000	04/28/2025	05/02/2025	Monthly
Alphabet (GOOGL) Yield Shares Purpose ETF – ETF Units	YGOG	$0.2500	04/28/2025	05/02/2025	Monthly
Tech Innovators Yield Shares Purpose ETF – ETF Series	YMAG	$0.2000	04/28/2025	05/02/2025	Monthly
META (META) Yield Shares Purpose ETF – ETF Series	YMET	$0.1600	04/28/2025	05/02/2025	Monthly
Netflix (NFLX) Yield Shares Purpose ETF – ETF Series	YNET	$0.1100	04/28/2025	05/02/2025	Monthly
NVIDIA (NVDA) Yield Shares Purpose ETF – ETF Units	YNVD	$0.7500	04/28/2025	05/02/2025	Monthly
Palantir (PLTR) Yield Shares Purpose ETF – ETF Series	YPLT	$0.2500	04/28/2025	05/02/2025	Monthly
Tesla (TSLA) Yield Shares Purpose ETF – ETF Units	YTSL	$0.5500	04/28/2025	05/02/2025	Monthly
UnitedHealth Group (UHN) Yield Shares Purpose ETF – ETF Series	YUNH	$0.1100	04/28/2025	05/02/2025	Monthly

Closed-End Funds	Ticker Symbol	Distribution per share/unit	Record Date	Payable Date	Distribution Frequency
Big Banc Split Corp, Class A	BNK	$0.1200¹	04/30/2025	05/14/2025	Monthly
Big Banc Split Corp – Preferred Shares	BNK.PR.A	$0.0700¹	04/30/2025	05/14/2025	Monthly

Estimated April 2025 Distributions for Purpose USD Cash Management Fund, Purpose Cash Management Fund, Purpose High Interest Savings Fund, and Purpose US Cash Fund

The April 2025 distribution rates for Purpose USD Cash Management Fund, Purpose Cash Management Fund, Purpose High Interest Savings Fund, and Purpose US Cash Fund are estimated to be as follows:

Fund Name	Ticker Symbol	Estimated Distribution per unit	Record Date	Payable Date	Distribution Frequency
Purpose USD Cash Management Fund – ETF Units	MNU.U	US $ 0.3785	04/28/2025	05/02/2025	Monthly
Purpose Cash Management Fund – ETF Units	MNY	$0.2705	04/28/2025	05/02/2025	Monthly
Purpose High Interest Savings Fund – ETF Units	PSA	$0.1146	04/28/2025	05/02/2025	Monthly
Purpose US Cash Fund – ETF Units	PSU.U	US $ 0.3720	04/28/2025	05/02/2025	Monthly

Purpose expects to issue a press release on or about April 25, 2025 , which will provide the final distribution rate for Purpose USD Cash Management Fund, Purpose Cash Management Fund, Purpose High Interest Savings Fund, and Purpose US Cash Fund. The ex-distribution date will be April 28, 2025.

(1) Dividend is designated as an “eligible” Canadian dividend for purposes of the Income Tax Act (Canada) and any similar provincial and territorial legislation.
(2) Purpose US Preferred Share Fund Non-Currency Hedged – ETF Units have both a CAD and USD purchase option. Distribution per unit is declared in CAD, however, the USD purchase option (RPU.U) distribution will be made in the USD equivalent. Conversion into USD will use the end-of-day foreign exchange rate prevailing on the ex-distribution date.

About Purpose Investments Inc.

Purpose Investments is an asset management company with more than $21 billion in assets under management. Purpose Investments has an unrelenting focus on client-centric innovation and offers a range of managed and quantitative investment products. Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Unlimited, an independent technology-driven financial services company.

For further information please contact:
Keera Hart
Keera.Hart@kaiserpartners.com
905-580-1257

Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. Please read the prospectus and other disclosure documents before investing. Investment funds are not covered by the Canada Deposit Insurance Corporation or any other government deposit insurer. There can be no assurance that the full amount of your investment in a fund will be returned to you. If the securities are purchased or sold on a stock exchange, you may pay more or receive less than the current net asset value. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

The MIL Network –

April 18, 2025

MIL-OSI Security: Tucson Man Sentenced to Six Years in Prison for Firearms Trafficking Offenses

Source: Office of United States Attorneys

TUCSON, Ariz. – Julian Canastillo, 23, of Tucson, was sentenced on April 15, 2025, by United States District Judge John C. Hinderaker to six years in prison, followed by three years of supervised release. Canastillo previously pleaded guilty to six counts of Smuggling Goods from the United States and one count of Possession of a Firearm by a Convicted Felon.

Canastillo was the lead defendant in a 51-count indictment filed on September 15, 2022, charging 10 individuals involved in a firearms trafficking organization based in Tucson. An investigation leading to the indictment revealed a series of transactions linked to the organization for firearms that were later seized in the Republic of Mexico. In total, the Tucson-based organization is connected to more than 200 firearms transactions, and Canastillo alone admitted to smuggling 36 firearms into Mexico.

The Bureau of Alcohol, Tobacco, Firearms and Explosives, Homeland Security Investigations, and Customs and Border Protection Office of Field Operations conducted the investigation in this case. Assistant U.S. Attorneys Angela W. Woolridge, Craig H. Russell, and Matthew C. Cassell, District of Arizona, Tucson, handled the prosecution.

CASE NUMBER: CR-22-01857-001-TUC-JCH
RELEASE NUMBER: 2025-058_Canastillo

# # #

For more information on the U.S. Attorney’s Office, District of Arizona, visit http://www.justice.gov/usao/az/

Follow the U.S. Attorney’s Office, District of Arizona, on Twitter @USAO_AZ for the latest news.

MIL Security OSI –

April 18, 2025
MIL-OSI Security: California Man Sentenced to Federal Prison for Bank Fraud and Aggravated Identity Theft in Oregon and Maine

Source: Office of United States Attorneys

MEDFORD, Ore.—A Romanian national residing in Garden Grove, California, was sentenced to federal prison today for stealing more than $176,000 by installing Automated Teller Machine (ATM) skimming devices throughout Oregon and Maine.

Florin George Ionita, 45, was sentenced to 54 months in federal prison and five years’ supervised release. He was also ordered to pay $176,922 in restitution to his victims.

According to court documents, between June and August 2023, Ionita installed skimming devices on ATMs and used the devices to steal account information and Personal Identification Numbers (PIN) from customers who conducted transactions at the ATMs. Ionita used the stolen information to produce counterfeit debit cards and withdraw cash from victims’ accounts. Over the course of his scheme, Ionita accessed hundreds of bank accounts and stole more than $176,000 from victims in Oregon and Maine.

On August 22, 2023, the Medford Police Department (MPD) received a report of a masked individual installing a skimming device. Investigators received photos of the man and distributed a law enforcement bulletin to identify the unknown individual. The following day, investigators from Kennebunk Police Department in Kennebunk, Maine, identified Ionita and informed MPD investigators of their investigation of Ionita installing skimming devices in Maine. Investigators learned that due to his immigration status, Ionita was required to wear a Global Positioning System (GPS) monitor which confirmed his location at several banks where the ATM skimming devices were installed.

On November 2, 2023, a federal grand jury in Medford returned a nine-count indictment charging Ionita with bank fraud, conspiracy to commit bank fraud, and aggravated identity theft.

On March 20, 2024, a federal grand jury in the District of Maine returned a fifteen-count indictment charging Ionita with bank fraud, conspiracy to commit bank fraud, and aggravated identity theft.

On December 6, 2024, Ionita pleaded guilty to one count each of bank fraud and aggravated identity theft for his crimes in Oregon, and one count each of bank fraud and aggravated identity theft for his crimes in Maine.

This case was investigated by Homeland Security Investigations, the U.S. Secret Service New England Cyber Fraud Task Force, the Medford Police Department Criminal Investigative Division, the Kennebunk Police Department, and the Freeport Police Department. It is being prosecuted by John C. Brassell, Assistant U.S. Attorney for the District of Oregon, with assistance from the U.S. Attorney’s Office for the District of Maine.

MIL Security OSI –

April 18, 2025
MIL-OSI United Kingdom: Homes fit for heroes: Raft of news measures to improve military family housing
Source: United Kingdom – Government Statements

Press release

Homes fit for heroes: Raft of news measures to improve military family housing

Living conditions for families in military housing will be transformed under a new Consumer Charter, as Defence Secretary John Healey promised to “stop the rot” in military housing.
Defence Secretary John Healey visits military housing

New Consumer Charter for families in military homes, delivering on the government’s Plan for Change.

Measures will include higher move-in standards, more reliable repairs, renovation of the worst homes, and a named housing officer for every family – all in place before the one-year anniversary of 36,000 military homes being brought back into public ownership.

Pledge comes alongside the announcement of an independent, expert team appointed to help deliver a rapid Defence Housing Strategy – with work already underway.

The Charter will be part of a new Defence Housing Strategy, to be published later this year, which will set out further plans to improve the standard of service family homes across the country.

Under the Charter, basic consumer rights, from essential property information and predictable property standards, to access to a robust complaints system, will be rapidly introduced. These will be underpinned by new, published satisfaction figures, putting forces families front and centre.

The wider Defence Housing Strategy – overseen by the Defence Secretary and the Minister for Veterans and People, Al Carns – will also turbocharge the development of surplus military land, creating opportunities for Armed Forces homeownership. It will further support the delivery of affordable homes for families across Britain as part of the government’s Plan for Change.

It follows the Government’s landmark deal, completed in January, to bring back 36,000 military homes into public ownership, reversing a 1996 sale described by the Public Accounts Committee as “disastrous”, and saving the taxpayer £600,000 per day by eliminating rental payments to a private company.

The announcement follows the Prime Minister Sir Keir Starmer’s pledge to deliver “homes for heroes” and means that under this government, support will be there for veterans at risk of homelessness. This included removing local connection tests for veterans seeking social housing, meaning as of November, veterans will have access to the housing support they need.

Defence Secretary, John Healey MP, said:

Our Armed Forces serve with extraordinary dedication and courage to keep us safe. It is only right that they and their families live in the homes they deserve.

For too long, military families have endured substandard housing without the basic consumer rights that any of us should expect in our homes. That must end and our new Consumer Charter will begin to stop the rot and put families at the heart of that transformation.

We cannot turn around years of failure on forces housing overnight, but by bringing 36,000 military homes back into public ownership, we’ve already taken greater control and are working at pace to drive up standards. This is about providing homes fit for the heroes who serve our nation, and I’m determined to deliver the decent, affordable housing that our forces families have every right to expect.

The new Consumer Charter will include the following commitments:

A strengthened move-in standard so families can have confidence that the home they are moving into will be ready on time and will be clean and functional.

Improved, clearer information for families ahead of a move, including photographs and floor plans of all homes when a family applies for housing.

More reliable repairs, including an undertaking to complete urgent repairs within a set timeline consistent with Awaab’s Law, and a new online portal for service personnel to manage repairs.

Raising the minimum standard of forces family housing with a new programme of works targeted at the worst homes, with up to 1,000 refurbished as a downpayment on the broader programme of renewal to be set out in the Defence Housing Strategy.

Better and clearer communication for families, including a named housing officer for every service family who they can contact for specific housing related queries.

A new, simpler complaints process that will shorten the process to two stages in line with industry best practice, so that service personnel and families have a quicker resolution, backed up by the new Armed Forces Commissioner.

Modernising policies to allow more freedom for families to make improvements, giving them a greater sense of pride in their homes.

These improvements will be in place by the one-year anniversary of the announcement to buy back military homes last December, with final detail to be set out in the Defence Housing Strategy following consultation with military personnel and their families.

Many of the commitments in the Charter will be achieved by driving better performance – and better value for the taxpayer – from existing suppliers of maintenance and support for service family housing.

The new standards will be underpinned by new published customer satisfaction measures and enhanced accountability so families can have confidence in the improvements being made. This will sit alongside an independently conducted stock survey, as recommended by the Kerslake review of military housing which was published last year.

The Defence Housing Strategy will be driven by an independent review team whose members have been announced today, and which will be chaired by former Member of Parliament and housing expert Natalie Elphicke Ross OBE, drawing on expertise from industry and forces families.

In the meantime, the Defence Secretary and the Minister for Veterans and People have instructed the MOD to immediately plan improvements for the new Consumer Charter, as part of a short-term action plan to enhance the family homes after years of neglect.

Natalie Elphicke Ross, Chair of the Defence Housing Strategy Review said:

Our pride in our armed forces must include pride in our military homes. Delivering better housing, boosting home ownership opportunities for service personnel and improving the experiences of service families will be at the heart of our work.

David Brewer, Chief Operating Officer of the Defence Infrastructure Organisation, said:

We are dedicated to making changes that will bring real improvements to the lives of families living in military homes and the plans set out in the new charter are an important step towards doing this.

The advisory team, announced today, brings together an exceptional group of individuals, who through their expertise and experience will help ensure our housing strategy maximises benefits, not just to families living in military homes, but to communities and industry more widely.

Antony Cotton MBE said:

Our Armed Forces community are the backbone of our society, so improving the standard of service family housing is essential if we are to continue to retain and recruit the soldiers, sailors and aviators that protect us selflessly, every day. I welcome this consumer charter as a starting point to give our military families an improved service, and homes they deserve.

Background

The members appointed to the Defence Housing Strategy review team are:

Chair, Natalie Elphicke Ross OBE, Director and Head of Housing at The Housing & Finance Institute. Previously Natalie chaired the New Homes Quality Board on standards and redress for customers of new build homes, co-chaired the Elphicke-House Report 2015 on the role of local authorities in housing supply and served as an expert adviser on the development of the national strategy for estate regeneration. A former law firm partner specialising in housing finance, Natalie’s experience includes advising central and local governments, lenders, developers and housing associations on financing, structuring and delivering homes across all tenures.

Bill Yardley, Chair of McCarthy Stone Shared Ownership Limited. Bill serves as Chair of a regulated residential development company and is a Non- Executive Director at the Defence Infrastructure Organisation, in the Houses of Parliament and at the Surrey Property Group Limited. He has previously worked at board level in the public and private sectors in residential development, regulated housing, property investment, education and the NHS and has been a public member of Network Rail and chaired a charity. Bill has also served as a Crown Representative and on the Government Construction Board.

Cat Calder, Housing Specialist, Army Families Federation. Cat is a housing professional with over 13 years of experience advocating for improved living conditions for families in military accommodation. She has held key positions within the Army Families Federation and has direct experience of military housing, having previously lived in service family accommodation for a number of years.

Nigel Holland, former Divisional Chair, Taylor Wimpey and Non-Executive Director of The Riverside Group. Formerly a Divisional Chair of Taylor Wimpey, one of the UK’s largest residential developers. Nigel is also a Non-Executive Director of The Riverside Group, a major provider of affordable housing, care and support services in England and Scotland, with more than 75,000 homes in management. He has a wealth of experience in the homebuilding industry, leading large-scale developments in the UK and overseas.

Alex Notay, Chair and Commissioner, Radix Big Tent Housing Commission. Alexandra is an internationally recognised expert on housing, placemaking and ESG. She has 20 years’ strategic advisory and investment experience across four continents and in August 2024 took over as Chair of the Radix Big Tent Housing Commission. Until July 2024 she was Placemaking and Investment Director at Thriving Investments, the fund and asset management arm of Places for People Group, overseeing a UK-wide residential strategy.

James Hall, Housing and Land, Greater London Authority. James has over a decade’s experience in housing and development, working with the public, private and not-for-profit sectors. He worked extensively on strategy, policy and communications in Westminster and Whitehall, and most recently worked at the Greater London Authority on housing policy and delivery.

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Published 18 April 2025
MIL OSI United Kingdom –
April 18, 2025
MIL-OSI Security: Carter Lake Man Sentenced to Seven Years in Federal Prison for Child Pornography Charge

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

COUNCIL BLUFFS, Iowa – A Carter Lake man was sentenced on March 12, 2025, to 84 months in in federal prison for receiving child pornography.

According to public court documents and evidence presented at sentencing, the National Center for Missing and Exploited Children received a CyberTip that an account, later determined to be associated with Jay McCall Schnider, 52, received and uploaded files containing child sexual abuse material between April 2020 and July 2023. Law enforcement seized an electronic device during the execution of a search warrant of Schnider’s Carter Lake residence. A forensic examination of the seized electronic device showed that Schnider used the device to receive images and videos containing child sexual abuse material.

After completing his term of imprisonment, Schnider will be required to serve a five-year term of supervised release. There is no parole in the federal system.

United States Attorney Richard D. Westphal of the Southern District of Iowa made the announcement. This case was investigated by the Federal Bureau of Investigation.

This case was brought as part of Project Safe Childhood, a nationwide initiative to combat the growing epidemic of child sexual exploitation and abuse launched in May 2006 by the Department of Justice. Led by U.S. Attorneys’ Offices and the Child Exploitation and Obscenity Section, 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 to identify and rescue victims. For more information about Project Safe Childhood, please visit https://www.justice.gov/psc.

MIL Security OSI –

April 18, 2025
MIL-OSI: Gregory W. Buckley Elected President of Adams Natural Resources Fund

Source: GlobeNewswire (MIL-OSI)

BALTIMORE, April 17, 2025 (GLOBE NEWSWIRE) — Adams Natural Resources Fund, Inc. (NYSE: PEO), one of the nation’s oldest closed-end funds, today announced that Gregory W. Buckley has been elected President of the Fund.

Mr. Buckley has been an Executive Vice President and a portfolio manager of ADX since April 20, 2023. He will continue to serve as a member of the portfolio management team that is currently headed by CEO James P. Haynie.

Mr. Buckley joined Adams Natural Resources Fund in September 2013 as a senior equity analyst covering the energy and utilities sectors. He was promoted to Vice President-Research in April 2015. He is also a Vice President-Research of Adams Diversified Equity Fund, Inc., PEO’s affiliate, since 2019. “Greg has done an excellent job since joining the PEO portfolio management team and has exhibited the dedication and insight that I believe will make him valuable as President of the Fund,” said Mr. Haynie.

Mr. Buckley began covering the energy sector in 1999 and prior to joining Adams Funds worked at BNP Paribas as an Equity Analyst and Portfolio Manager. His experience also includes managing a long/short Energy fund at Citadel LLC and working as an Energy Analyst at Pioneer Investments.

Mr. Buckley holds a Bachelor of Science degree in Finance from Villanova University and an MBA from the Kenan-Flagler Business School at the University of North Carolina.

Adams Natural Resources Fund, Inc. is one of the nation’s oldest and most respected closed-end funds and is the longest-tenured closed-end fund specializing in energy and natural resources stocks.

About Adams Funds
Since 1929, Adams Funds has consistently helped generations of investors reach their investment goals. Adams Funds is comprised of two closed-end funds, Adams Diversified Equity Fund, Inc. (NYSE: ADX) and Adams Natural Resources Fund, Inc. (NYSE: PEO).The Funds are actively managed by an experienced team with a disciplined approach and have paid distributions for more than 90 years across many market cycles. The Funds are committed to paying a minimum annual distribution rate of 8% of NAV paid evenly each quarter throughout the year, providing reliability for long-term shareholders. A portion of any distribution may be treated as paid from sources other than net income, including but not limited to short-term capital gain, long-term capital gain, and return of capital. The final determination of the source of all distributions for tax reporting purposes in a calendar year, including the percentage of qualified dividend income, will be made after year-end. Shares can be purchased through our transfer agent or through a broker. For more information about Adams Funds, please visit: adamsfunds.com.

For further information: adamsfunds.com/about/contact │800.638.2479

The MIL Network –

April 18, 2025
MIL-OSI: Bigstack Opportunities I Inc. Announces Receipt of TSXV Conditional Approval and Filing of Filing Statement

Source: GlobeNewswire (MIL-OSI)

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

TORONTO, April 17, 2025 (GLOBE NEWSWIRE) — Bigstack Opportunities I Inc. (“Bigstack”) (TSXV: STAK.P), a capital pool company as defined under the policies of the TSX Venture Exchange (the “TSXV” or the “Exchange”), is pleased to announce that the TSXV has conditionally approved the previously announced business combination with Reeflex Coil Solutions Inc. (“Reeflex”), as described in Bigstack’s press releases dated November 4, 2024, January 17, 2025 and April 16, 2025 (the “Transaction”), which will constitute Bigstack’s Qualifying Transaction (as such term is defined in Policy 2.4 – Capital Pool Companies of the Corporate Finance Manual of the Exchange).

In connection with the Transaction, Bigstack has filed its filing statement dated April 14, 2025 (the “Filing Statement”) on its SEDAR+ profile. Investors are encouraged to review the Filing Statement on Bigstack’s SEDAR+ profile at www.sedarplus.ca, as well as Bigstack’s press releases dated November 4, 2024, January 17, 2025 and April 16, 2025. The Filing Statement provides detailed information about, among other things, the Transaction, Reeflex, Coil Solutions Inc. (“Coil”), Reeflex’s expected acquisition of Coil pursuant to a share purchase agreement dated April 14, 2025 (the “Share Purchase Agreement”) between Reeflex and all of the shareholders of Coil (the “Coil Acquisition”), and the resulting company following completion of the Transaction (the “Resulting Issuer”).

Assuming all conditions are satisfied, Bigstack and Reeflex anticipate closing of the Transaction to occur on or around May 1, 2025, or such other date as may be agreed to between the parties, and that trading of the Resulting Issuer’s common shares will commence shortly thereafter. Bigstack will issue a further press release once the Exchange issues its bulletin announcing its final approval of the Transaction and the date that trading of the common shares of the Resulting Issuer is expected to commence on the Exchange. The Resulting Issuer’s trading symbol will be “RFX”.

In connection with the Transaction, Bigstack is expected to change its name to “Reeflex Solutions Inc.”

Completion of the Transaction is subject to a number of conditions, including but not limited to, the satisfaction of all conditions provided for in the agreements governing the Transaction, which include representations, warranties, covenants and conditions customary for a transaction of this nature, the receipt of all necessary regulatory, corporate and third party approvals, including final TSXV acceptance, the release of the escrowed proceeds to Reeflex pursuant to the concurrent financing of the Reeflex, as described in Bigstack’s press release dated April 16, 2025, the closing of the Coil Acquisition, and the receipt of approval for the listing of the common shares of the Resulting Issuer by the Exchange, all subject to the completion of the Transaction. There can, however, be no assurance that the Transaction will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative. Shares of Bigstack are currently halted from trading on the Exchange, and trading is not expected to resume until after closing of the Transaction. The TSXV has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

Business and History of Reeflex

Reeflex is a privately-held corporation incorporated under the Business Corporations Act (Alberta) on June 14, 2024. Its head and registered offices are located in Calgary. Reeflex currently has no business operations or assets other than cash and a management team that has been working on the Transaction and the proposed going public structure for the past year. On April 14, 2025, Reeflex entered into the Share Purchase Agreement.

Business and History of Coil

Founded in 2007 in Redcliff, Alberta, Coil specializes in innovative drilling products and services for the global oil and gas industry. In 2010, Coil expanded its operations, opening a second facility in Calgary, Alberta, introducing a line of downhole fracking tools and venturing into custom tool design. In 2012, Coil launched its coil tubing injector line. In 2013, Coil opened a third facility in Red Deer, Alberta. In 2014, Coil developed two distinct models of, and manufactured, its first full coil tubing units. In 2016, Coil expanded sales to Asia, Africa, Australia, North America, South America and Europe. In 2017, Coil designed and built the largest free-standing mast unit in the world. In 2022, Coil established a dedicated manufacturing division in Calgary, Alberta, operating under its tradename, Ranglar, for injectors and mobile equipment. In 2024, Coil completed a reorganization with its shareholders, which resulted in the conversion of preferred shares and debt into common shares. Today, Coil continues to focus on coiled tubing solutions and downhole tools, offering a comprehensive range of services including rentals, sales, training, testing and consulting. With 41 employees, Coil has developed patented products that are distributed worldwide, including a key distributor in Germany and more than 60 active clients. On April 14, 2025, Coil entered into the Share Purchase Agreement.

Overview of Bigstack

Bigstack is a “capital pool company” under the policies of the Exchange and it is intended that the Transaction will constitute the “Qualifying Transaction” of Bigstack, as such term is defined in CPC Policy. The Bigstack Shares are currently listed on the Exchange and Bigstack is a reporting issuer in the provinces of Alberta, British Columbia and Ontario. Bigstack was incorporated under the Business Corporations Act (Ontario) on November 25, 2020.

Additional Information

All information contained in this press release with respect to Reeflex and Coil was provided by Reeflex and Coil, respectively, to Bigstack for inclusion herein. Bigstack and its directors and officers have not independently verified such information and have relied exclusively on Reeflex and Coil for any information concerning Reeflex and Coil.

Forward Looking Information

This press release contains statements that constitute “forward-looking information” (“forward-looking information”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this press release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “anticipate”, “believe”, “estimate”, “expect”, “intend” or variations of such words and phrases or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information.

More particularly and without limitation, this press release contains forward-looking statements concerning the Transaction and its constituents steps, including the Coil Acquisition and the Transaction (including the completion, structure, terms and timing thereof), the expected corporate structure of the Resulting Issuer and its subsidiaries, if any, the future financial performance of the Resulting Issuer or any of the parties, the concurrent financing of Reeflex and the potential release of escrowed proceeds therefrom, and the trading of Bigstack’s securities and any securities of the Resulting Issuer on the TSXV. Although Bigstack believes that the expectations reflected in such forward-looking information are reasonable, it can give no assurance that the expectations of any forward-looking information will prove to be correct. Known and unknown risks, uncertainties and other factors may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: delay or failure to receive regulatory approvals; inability to complete the Concurrent Financing on the terms described herein or at all; and general business, economic, competitive, political and social uncertainties. There can be no certainty that the Transaction and related transactions will be completed on the terms set out in the agreements among the parties and described in press releases of Bigstack or at all. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Except as required by law, Bigstack disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking information or otherwise.

Investors are cautioned that, except as disclosed in the Filing Statement, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this press release.

Bigstack Opportunities I Inc.

For further information, please contact Eric Szustak, the President, Chief Executive Officer, Chief Financial Officer, Corporate Secretary and a director of Bigstack.

Eric Szustak
President, CEO, CFO, Corporate Secretary and Director
Email: eszustak@jbrlimited.com
Telephone: (905) 330-7948

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.

The securities have not been and will not be registered under the United States Securities Act of 1933, as amended and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirement. 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 the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

The MIL Network –

April 18, 2025
MIL-OSI USA: LEHIGH COUNTY – Governor Shapiro to Visit Bethlehem Fire Department to Discuss Proposed Investments to Support Firefighters

Source: US State of Pennsylvania

April 18, 2025 – Bethlehem, PA

ADVISORY – LEHIGH COUNTY – Governor Shapiro to Visit Bethlehem Fire Department to Discuss Proposed Investments to Support Firefighters

Governor Josh Shapiro will visit the Bethlehem Fire Department to discuss his Administration’s commitment to investing in and supporting Pennsylvania’s first responders and firefighters – outlining key proposals in his 2025-26 proposed budget aimed at strengthening fire companies throughout the Commonwealth, including a new $30 million grant program to help fire companies purchase life-saving equipment, recruit and retain firefighters, and meet their unique needs.

As the Governor and his family witnessed firsthand this weekend, Pennsylvania’s professional and volunteer firefighters continue their heroic efforts to respond to crises – running towards danger to keep people safe.

WHO:
Governor Josh Shapiro
Chief Mike Reich, Bethlehem Fire Department
Mayor J. William Reynolds, City of Bethlehem
President Bob Brooks, Pennsylvania Professional Fire Fighters Association
Senator Lisa Boscola
Representative Jeanne McNeill
Representative Jennifer O’Mara

WHEN:
Friday, April 18, 2025 at 11:00 AM
*Press conference to follow a tour of fire department.

WHERE:
Bethlehem Fire Department Company 6
521 West Broad Street
Bethlehem, PA 18018

LIVE STREAM:
pacast.com/live/gov
governor.pa.gov/live/

RSVP: Press who are interested in attending must RSVP with the names and numbers of their team to ra-gvgovpress@pa.gov.

MEDIA CONTACTS:
Governor’s Press Office: ra-gvgovpress@pa.gov

MIL OSI USA News –

April 18, 2025
MIL-OSI Security: Bahamian Alien Smuggler Sentenced to 20 Months in Federal Prison

Source: Office of United States Attorneys

MIAMI – A federal district judge in Miami sentenced a Bahamian national to 20 months in federal prison, followed by three years of supervised release, after previously pleading guilty to alien smuggling in January.

On Nov. 8, 2024, U.S. Customs and Border Protection (CBP) officers interdicted an alien smuggling vessel approximately six miles off the coast of Miami, Florida. The CBP vessel intercepted Keith Kevin Russell, 46, while he was transporting 18 individuals on his boat from The Bahamas to the United States. Russell initially refused to stop, only stopping when CBP officers shot warning flares near the vessel. The CBP officers brought the individuals from Russell’s boat onboard the United States Coast Guard (USCG) Cutter Richard Etheridge and confirmed that all the individuals were aliens who did not have authorization to enter the United States. The aliens on the vessel were from China, Haiti, Jamaica, and the Bahamas. The Coast Guard officers and Homeland Security Investigations (HSI) special agents also determined that Patrick Angelo Percentie, 45, was a Bahamian alien that had been previously removed from the United States after a conviction for an aggravated felony.

USCG officers brought Russell and Percentie to shore to face charges. The rest of the aliens were returned to the Bahamas. Percentie also pled guilty and received a 16-month prison sentence.

U.S. Attorney Hayden O’Byrne for the Southern District of Florida and Acting Special Agent in Charge José R. Figueroa of HSI, Miami Field Office, announced the sentence.

HSI Miami investigated the case with assistance from CBP and USCG, 7th Coast Guard District. Special Assistant U.S. Attorney Tanner Stiehl is prosecuting the case.

You may find a copy of this press release (and any updates) on the website of the United States Attorney’s Office for the Southern District of Florida at https://www.justice.gov/usao-sdfl.

Related court documents and information may be found on the website of the District Court for the Southern District of Florida at www.flsd.uscourts.gov or at http://pacer.flsd.uscourts.gov, under case number 24-cr-20514.

###

MIL Security OSI –

April 18, 2025
MIL-OSI Security: Iranian National Indicted for Operating Online Marketplace Offering Fentanyl, Other Drugs, and Money Laundering Services

Source: Office of United States Attorneys

CLEVELAND – A federal grand jury has charged Behrouz Parsarad, an Iranian national, for his role as the creator and operator of Nemesis Market, a dark web marketplace designed to enable users to buy and sell illegal drugs and other illicit goods and criminal cyber-services, such as obtaining stolen financial information, fraudulent identification documents, counterfeit currencies, and computer malware.

According to the indictment, Parsarad, 36, of Tehran, Iran, launched Nemesis Market in or around March 2021. Nemesis Market operated on the dark web, a network that uses The Onion Router (TOR) to encrypt traffic and hide users’ Internet Protocol (IP) address. At its peak, Nemesis Market had over 150,000 users and more than 1,100 vendor accounts registered worldwide. Between 2021 and 2024, Nemesis Market processed more than 400,000 orders, including more than 60,000 orders in 2022 and more than 250,000 orders in 2023. Of these, more than 55,000 orders were categorized as stimulants, which included sub-categories for methamphetamine, cocaine, cocaine base (crack), and other controlled substances. More than 17,000 orders were categorized as opioids, which included sub-categories for fentanyl, heroin, and oxycodone. All of the substances covertly purchased by the government and marketed on Nemesis as “isotonitazene,” “M30s” (purporting to be oxycodone), and “Percs” (purporting to be Percocet) were confirmed by laboratory reports to be mixtures and substances containing fentanyl, a Schedule II controlled substance and/or acetylfentanyl, heroin, and/or protonitazene, each a Schedule I controlled substance.

“The allegations in this indictment span over four hundred thousand transactions involving fentanyl, other dangerous drugs, and a wide range of contraband made accessible on the darknet for more than three years,” said Matthew R. Galeotti, Head of the Justice Department’s Criminal Division. “Through cooperation with German and Lithuanian partners, the alleged administrator of this marketplace has been charged, servers and other infrastructure have been seized, and dangerous drugs and other contraband have been stopped from entering the United States. This case demonstrates the Department’s tireless commitment to protecting U.S. communities from the harms caused by fentanyl and darknet marketplaces and pursuing accountability for those who would endanger our communities no matter where they are located.”

“Anyone who tries to profit from the sale of illegal drugs – whether it’s on the streets or online – will face consequences. Whether you sell or help others sell these dangerous drugs, you will be held accountable,” said Acting U.S. Attorney Carol M. Skutnik for the Northern District of Ohio. “I want to acknowledge the excellent investigative work of our federal agency partners here in Ohio who helped us to bring the charges in this case. Together, we remain committed to keeping our neighborhoods safe and our streets free from illegal narcotics.”

“This indictment, made possible by the assistance of our German and Lithuanian allies, underscores the importance of global partnerships and international collaboration,” said FBI Cleveland Acting Special Agent in Charge Charles Johnston. “Nemesis Market, through the darknet, was a borderless powerhouse of criminal activity that not only fueled the drug epidemic, but also a multitude of illegal acts with the capacity to harm our citizens and destroy our communities. The FBI stands firm in its commitment to identify and investigate unlawful individuals and dismantle their networks operating with criminal intent.”

Parsarad is charged with conspiracy to distribute controlled substances and distribution of controlled substances in the Northern District of Ohio and elsewhere. In addition, Parsarad is also charged with money laundering conspiracy for both using proceeds to promote illegal drug dealing and for offering money laundering services through Nemesis Market by mixing cryptocurrencies used to pay for goods and services to obscure their origins. Nemesis users were not allowed to conduct transactions in official, government-backed currencies.

On March 20, 2024, U.S. law enforcement, in cooperation with German and Lithuanian authorities, seized Nemesis Market and stemmed the flow of these drugs into the United States and elsewhere. In March 2025, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced sanctions against Parsarad for his role as the administrator of Nemesis Market. According to OFAC, Nemesis Market facilitated the sale of nearly $30 million worth of drugs between 2021 and 2024.

If convicted, Parsarad faces a mandatory minimum of 10 years in federal prison and a maximum penalty of life.

The FBI Cleveland Division is investigating the case with assistance from the DEA and IRS-CI. The Justice Department’s Office of International Affairs and Cybercrime Liaison Prosecutor to Eurojust provided significant assistance.

Assistant U.S. Attorney Segev Phillips for the Northern District of Ohio and Trial Attorney Gaelin Bernstein of the Criminal Division’s Computer Crime and Intellectual Property Section are prosecuting the case, with substantial assistance from the U.S. Attorneys Offices for the Northern District of Illinois and District of Massachusetts.

This case was investigated as part of an FBI-led interagency Joint Criminal Opioid and Darknet Enforcement (J-CODE) operation. J-CODE brings together experts from the DEA, the Postal Inspection Service, Homeland Security Investigations, as well as the Department of Defense and the Customs and Border Protection, along with the FBI. The Justice Department appreciates the cooperation and significant assistance provided by law enforcement partners in the British Virgin Islands, Germany, Lithuania, and Türkiye.

An indictment is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

MIL Security OSI –

April 18, 2025
MIL-OSI: Purpose Investments Clarifies that It Has Debuted One of the World’s First Solana ETFs with Staking Rewards Accruing Directly to the Fund – Continuing Its Leadership in Global Crypto Innovation
Source: GlobeNewswire (MIL-OSI)

TORONTO, April 17, 2025 (GLOBE NEWSWIRE) — Purpose Investments Inc. (“Purpose”), the firm behind the world’s first spot Bitcoin ETF and spot Ether ETF, is expanding its digital asset suite with the launch of the Purpose Solana ETF (ticker: SOLL). SOLL is one of the first ETFs worldwide to provide direct physical exposure to Solana while delivering staking rewards accruing directly to the fund. With native staking powered by Purpose’s proprietary in-house staking infrastructure, SOLL is designed to deliver the highest staking rewards currently available through spot Solana ETFs in Canada.

Now trading on the TSX, the Purpose Solana ETF reinforces Purpose’s position as a global leader in digital asset ETF innovation and Canada’s largest digital asset ETF manager. Backed by deep expertise and a proven track record, Purpose continues to make digital assets safer and easier for investors to access.

Canada’s Crypto Leader Setting the Standard for Global Innovation

“Solana is pushing the boundaries of blockchain innovation from speed and scalability to real-world decentralized applications,” said Vlad Tasevski, Chief Innovation Officer. “With the Purpose Solana ETF, we’re giving investors efficient, regulated access to this rapidly growing digital ecosystem, with the added benefit of native staking. As the only fund manager operating key aspects of the fund in-house through our technology infrastructure, we’re able to deliver a secure and seamless investment experience, along with more efficient returns and higher yields. This launch builds on the broadest suite of crypto ETFs in the country – and our mission to lead digital asset investing both here in Canada and globally with thoughtful, purpose-built solutions that meet investors where they are and help them move forward with confidence.”

Purpose Solana ETF Key Benefits
- Direct Exposure to Solana: Gain direct exposure to SOL, the native asset of a high-performance platform known for its speed, scalability, and growing developer ecosystem.
- Native Staking Yield: Capture Solana’s staking yield through a regulated ETF structure – without the complexity of setting up wallets or managing on-chain assets.
- Crypto-Native Advantage: Purpose’s in-house validator infrastructure and deep involvement in the Solana ecosystem will help to reduce cost and improve investor staking yield – offering one of the most efficient Solana staking programs on the market.
- Secure, Portfolio-Ready Structure: Held in cold storage with institutional-grade custodians, the ETF trades on the TSX and can be held in registered accounts like RRSPs and TFSAs – no wallets, keys, or crypto exchanges required.
- Uniquely Available With Three Currency Exposures: The ETF is available in CAD hedged units (ticker: SOLL), CAD non-hedged units (ticker: SOLL.B), and USD non-hedged units (ticker: SOLL.U).
“The Purpose Solana ETF provides direct access to Solana’s high-throughput network, with staking integrated through our proprietary validator infrastructure,” said Paul Pincente, VP of Digital Assets. “By internalizing key operational components – including staking and reward management – we reduce counterparty risk, improve net yield capture, and create a more efficient, institutional-grade investment structure. This level of control helps us support a more consistent and streamlined investment experience as the digital asset space continues to evolve.”

Leading Crypto-Native Capability and Unmatched In-House Staking Expertise

At the core of its platform is true crypto-native capability, supported by Purpose Unlimited’s in-house staking infrastructure. Having deep control over the technology will enable greater operational efficiency and the ability to deliver higher yields to investors. This integrated approach is designed to enhance performance and security and positions Purpose as a leader in bringing institutional-grade crypto ETF solutions.

The Broadest Suite of Crypto ETFs in Canada

Purpose offers the most comprehensive suite of digital asset ETFs in Canada, designed to meet the needs of every investor profile, from active traders to long-term allocators and income-focused investors.

Purpose Digital Assets lineup includes:
- Purpose Bitcoin ETF (BTCC) and Purpose Ether ETF (ETHH): The world’s first spot Bitcoin and Ether ETFs, offering regulated access, high liquidity, and a strong track record – backed by advanced features for active traders and tactical allocators.
- Purpose Bitcoin Yield ETF (BTCY) and Purpose Ether Yield ETF (ETHY): Yield-generating ETFs that use covered call strategies to help investors earn income from their Bitcoin and Ether holdings.
- Purpose Ether Staking Corp. ETF (ETHC.B): A staking-focused Ether ETF, giving investors access to Ethereum’s proof-of-stake rewards in a regulated structure.
- Purpose Solana ETF (SOLL): Unlocking direct exposure to a high-speed, low-fee blockchain known for its lightning-fast transactions, developer momentum, and real-world potential with staking rewards accruing directly to the fund.
With the launch of the Purpose Solana ETF, Purpose Investments continues to expand its industry-leading digital asset lineup, providing investors with secure and simple access to blockchain innovation. This new ETF complements Purpose’s existing crypto suite, which includes the world’s first spot Bitcoin ETF and first Ether ETF, offering investors a comprehensive range of digital asset solutions. As blockchain technology transforms financial markets, Purpose remains committed to bridging traditional finance with the future of decentralized and emerging financial technology, helping investors navigate the evolving digital economy with confidence.

To explore the full suite of crypto ETFs, visit the Purpose Digital Assets Suite.

About Purpose Investments

Purpose Investments Inc. is an asset management company with over $22 billion in assets under management, focused on client-centric innovation across ETFs and investment funds. Purpose Investments is a division of Purpose Unlimited, an independent financial technology company led by entrepreneur Som Seif.

For further information, please email us at info@purposeinvest.com.

Media inquiries:
Keera Hart
keera.hart@kaiserpartners.com
905-580-1257

The content of this document is for informational purposes only and is not being provided in the context of an offering of any securities described herein, nor is it a recommendation or solicitation to buy, hold or sell any security. Information contained in this document is not, and under no circumstances is it to be construed as, an offering memorandum, prospectus, advertisement or public offering of securities. No securities commission or similar regulatory authority has reviewed this information, and any representation to the contrary is an offence. The information contained in this document is believed to be accurate and reliable; however, we cannot guarantee that it is complete or current at all times. The information provided is subject to change without notice.

Commissions, trailing commissions, management fees and expenses may all be associated with investment fund investments. Please read the prospectus and other disclosure documents before investing. Crypto assets can be extremely volatile, and there can be no assurance that the full amount of your investment in a fund will be returned to you. If the securities are purchased or sold on a stock exchange, you may pay more or receive less than the current net asset value. Investment funds are not guaranteed, their values change frequently, and past performance may not be repeated. Fund distribution levels and frequencies are not guaranteed and may vary at Purpose Investments’ sole discretion.

Certain statements in this document may be forward-looking. Forward-looking statements (“FLS”) are statements that are predictive in nature, depend on or refer to future events or conditions, or that include words such as “may,” “will,” “should,” “could,” “expect,” “anticipate,” “intend,” “plan,” “believe,” “estimate,” or other similar expressions. Statements that look forward in time or include anything other than historical information are subject to risks and uncertainties, and actual results, actions or events could differ materially from those set forth in the FLS. FLS are not guarantees of future performance and are, by their nature, based on numerous assumptions. Although the FLS contained in this document are based upon what Purpose Investments believes to be reasonable assumptions, Purpose Investments cannot assure that actual results will be consistent with these FLS. The reader is cautioned to consider the FLS carefully and not to place undue reliance on the FLS. Unless required by applicable law, it is not undertaken, and specifically disclaimed, that there is any intention or obligation to update or revise FLS, whether as a result of new information, future events or otherwise.

The MIL Network –
April 18, 2025
MIL-OSI Russia: Jordan — IMF Staff Reach Staff Level Agreement on the Third Review under the Extended Fund Facility and Make Progress Toward a Program Supported under the Resilience and Sustainability Facility
Source: IMF – News in Russian

April 17, 2025

End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF’s Executive Board for discussion and decision.
- Jordan’s economic program supported by an Extended Fund Facility (EFF) arrangement is firmly on track despite considerable external headwinds. The authorities continue to demonstrate strong commitment to sound macro-economic policies and structural reforms to strengthen Jordan’s resilience, confront uncertainty, and accelerate growth.
- After a slowdown in 2024, affected by the spillovers from the conflicts in the region, domestic demand and tourism show signs of recovery. This combined with steadfast implementation of structural reforms to create a more dynamic private sector is expected to bring growth to 2.7 percent in 2025. Inflation is expected to remain around 2 percent, as the CBJ continues to successfully safeguard monetary stability and the peg to the US dollar.
- Substantial progress was made toward agreement on an arrangement under the Resilience and Sustainability Facility to address Jordan’s long-term vulnerabilities in the water and electricity sectors and to enhance its ability to address health emergencies, including future pandemics. Discussions are expected to be continued with the aim to reach agreement soon.
Amman: A staff team from the International Monetary Fund (IMF), led by Ron van Rooden, visited Amman during April 6–17, 2025, for discussions on the third review under the arrangement under the IMF’s Extended Fund Facility (EFF), which was approved by the IMF’s Executive Board on January 10, 2024 (Press Release). Discussions were also held on an arrangement under the Resilience and Sustainability Facility (RSF). At the conclusion of the mission, Mr. van Rooden issued the following statement:

“We are pleased to announce that the IMF team and the Jordanian authorities reached a staff-level agreement on the third review of the authorities’ economic reform program supported by the EFF arrangement, approved in January 2024. Program performance continues to be strong, despite a challenging external environment. All quantitative performance criteria for the third review were met and steady progress is being made toward achieving the program’s overall objectives, including strong progress toward meeting the structural benchmarks for this and future reviews. The agreement is subject to approval by the IMF’s management and the Executive Board. The completion of this review will make SDR 97.784 million (about US$130 million) available, out of the approved program size of SDR 926.370 million (about US$1.2 billion).

“Jordan’s economy continues to show resilience and macro-economic stability has been maintained, despite considerable external headwinds from the conflicts in Gaza and Lebanon and heightened uncertainty, thanks to authorities’ steady pursuit of sound macro-economic policies and international support. Growth slowed somewhat, but still reached 2.5 percent and inflation remained low, at less than 2 percent in 2024. The budget deficit target was met, as strong measures offset the loss in revenues due to lower domestic demand and lower prices of key export commodities. The current account deficit widened somewhat to 5.9 percent of GDP, in part reflecting lower tourism receipts.

“Despite increased global uncertainty, including as a result of higher trade tensions and continued conflicts in the region, growth in Jordan has started to pick up pace and is projected to reach 2.7 percent in 2025, as domestic activity and tourism are recovering and investment inflows have increased. The current account deficit is expected to be contained at 5.5 percent of GDP, with higher tourism receipts offsetting higher imports and possible adverse effects on exports from higher trade barriers. Inflation is expected to remain low, at just over 2 percent, reflecting the CBJ’s unwavering commitment to maintaining monetary stability. The CBJ remains firmly committed to the exchange rate peg to the U.S. dollar, which is supported by strong international reserves. Meanwhile, the banking sector continues to demonstrate resilience, with strong capitalization and sound financial health. Barring additional shocks, growth is expected to pick up pace further in the coming years, to over 3 percent, fueled by several large investment projects, including the Aqaba Amman Conveyor project, while deeper regional economic integration, notably with Syria, Lebanon, and Iraq, could further enhance growth prospects.

“The authorities remain committed to their fiscal policy anchor of placing public debt on a steady downward path, while protecting priority social and development spending. To achieve this, and to cement the progress made in the last few years, the authorities are committed to continuing efforts at mobilizing revenues, improving spending efficiency, and ensuring the financial viability and efficiency of public utilities and the social security corporation (SSC). Steady fiscal consolidation will continue in 2025–28, aiming to bring public debt to 80 percent of GDP by 2028.

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

“Substantial progress was made in discussing policies to address Jordan’s long-term vulnerabilities in the water and electricity sectors and to enhance its ability to address health emergencies, including future pandemics, and which could be supported by an arrangement under the Resilience and Sustainability Facility. Discussions are expected to be continued in the coming days aiming to be concluded in Washington DC.

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

IMF Communications Department

MEDIA RELATIONS

PRESS OFFICER: Angham Al Shami

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

@IMFSpokesperson

https://www.imf.org/en/News/Articles/2025/04/17/pr25113-jordan-imf-staff-reach-sla-3rd-rev-under-eff-make-prog-toward-program-supp-under-rsf

MIL OSI
MIL OSI Russia News –
April 18, 2025

Title of Security	CUSIP / ISIN Nos.	Outstanding Principal Amount	Principal Amount Tendered

3.706% Notes due 2026 (the “Notes”)	74348TAU6 / US74348TAU60	$342,947,000	$142,961,000

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