Category: Finance

MIL-OSI United Kingdom: expert reaction to Apple pulling data protection tool for UK users

Source: United Kingdom – Executive Government & Departments

February 21, 2025

Scientists comment on Apple removing their advanced data protection tool for UK users.

Dr Rameez Asif, Associate Professor of Cyber and Blockchain, University of East Anglia, said:

“iCloud users are the most affected by this news, as the removal of Advanced Data Protection (ADP) weakens the encryption for their cloud-stored data.”

“Apple has announced that it will remove its Advanced Data Protection (ADP) feature in the UK due to new regulations that would require tech companies to provide government access to encrypted data. This move comes in response to the Investigatory Powers Act (IPA) 2016, which the UK government is seeking to amend, further tightening rules on end-to-end encryption and requiring companies to notify authorities of any security feature changes before rolling them out.

“Apple’s ADP is its highest level of iCloud encryption, offering end-to-end encryption for iCloud backups, photos, and more, meaning that not even application layer Apple can access the data. The UK government’s demand for access to such encrypted user data has led Apple to pre-emptively withdraw the feature from UK users rather than compromise its security policies.”

How significant is the removal of this data protection tool?

“The removal of Apple’s Advanced Data Protection (ADP) in the UK is highly significant, as it weakens the strongest level of encryption available to iCloud users, making their backups, photos, and sensitive data more vulnerable to government access and potential cyber threats. This move highlights the growing tension between user privacy and government surveillance, setting a precedent that could influence other countries to demand similar access. It also raises concerns about digital sovereignty, as companies may choose to limit security features in regions with restrictive laws rather than compromise global encryption standards.”

Are there other data protection in place that protects UK populations data on apple devices?

“Yes, despite the removal of Advanced Data Protection (ADP) in the UK, Apple still implements several robust security and privacy measures on its devices. End-to-end encryption remains in place for sensitive data such as iMessage, FaceTime, Health data, passwords stored in iCloud Keychain, and Apple Pay transactions. Additionally, on-device encryption ensures that data stored locally on iPhones, iPads, and Macs is protected by user passcodes and biometric authentication (Face ID/Touch ID). Apple’s App Tracking Transparency (ATT) and Privacy Labels provide users with greater control over app data collection.”

What does this mean for security of our data on apple devices in the UK / how much less secure is our data now?

“The removal of Advanced Data Protection (ADP) in the UK reduces the overall security of data stored in iCloud, as it removes end-to-end encryption for iCloud backups, photos, and other cloud-based data. Without this protection, Apple can be compelled to comply with government demands for access to user data, potentially making it more vulnerable to surveillance or unauthorized access. However, local data stored on devices (such as messages, contacts, and health information) is still protected by on-device encryption and remains secure, as long as the user has strong passcodes and biometric authentication enabled. While this change affects cloud-stored data, device-level security and other privacy measures like App Tracking Transparency still offer significant protections, but overall, users in the UK face slightly diminished data privacy compared to other regions with ADP still active.”

Does the idea the UK Government suggests of a “backdoor” in encryption really work because surely it undermines the whole idea behind end-to-end encryption?

“The concept of a “backdoor” in encryption, as suggested by some governments, undermines the very foundation of end-to-end encryption by intentionally introducing a method for third parties, such as law enforcement, to access encrypted data. While the idea is that a backdoor would allow authorized access to encrypted content when necessary, it inherently creates vulnerabilities, as any method that can be used by one party can potentially be exploited by malicious actors. This weakens the security of the system and increases the risk of unauthorised access, either through hacking or misuse.”

Dr Junade Ali, Fellow at the Institution of Engineering and Technology (IET) and cyber security expert, said:

“It’s important to remember that the most useful built-in cybersecurity tools remain available to Apple users. This development largely affects UK Apple device users who require the most significant levels of protection for data stored in Apple’s iCloud service.

“However, users should be aware that other features like ‘Stolen Device Protection’ mode (protection where someone steals your device and knows your password) and ‘Lockdown’ mode (an extreme protection mode for those under the most sophisticated threats) still appear to be available. These are the built-in tools which are most useful to Apple device users who need higher levels of protection.

“At the Institution of Engineering and Technology, we recommend basic steps for most users which can radically reduce the risk of most cyberattacks. This includes using a password manager to generate long, unique passwords for each website, using Two-Factor Authentication to generate login codes, installing the latest updates and backing up key data.

“Cybersecurity tools, like almost any form of engineering, can be used for good as well as bad. Addressing the challenges posed by technological development requires policy makers, engineers and society to work together. In isolation, policy solutions or technical solutions will never suffice.”

Professor Oli Buckley, a Professor in Cyber Security at Loughborough University, said:

“Apple removing their Advanced Data Protection (ADP) in the UK is a significant move because it takes away the strongest form of security on iCloud, which offered true end-to-end encryption. This meant that not even Apple had any means of viewing your files and photos.

“There is still encryption on Apple devices, things like iMessage and other on-device data encryption still exist, but now data specifically stored in iCloud (which has a huge number of users) will be accessible to Apple and potentially government agencies through legal requests.

“Whenever a ‘backdoor’ exists for one purpose, like law enforcement, there’s always a risk it will be exploited for more malicious purposes. A key factor of end-to-end encryption is that only the communicating parties have the ability to decrypt the content and introducing any special access not only weakens trust in the system, it can also provide an attack vector for cybercriminals.

“Ultimately, once a door exists, it’s only a matter of time before it’s found and used maliciously. Removing ADP is not just a symbolic concession but a practical weakening of iCloud security for UK users.”

Prof Alan Woodward, Visiting Professor of Computing, University of Surrey, said:

What is the protection tool being removed and what is its function?

“The extra protection that Apple have added is rather like End to End Encryption where only the participants in a dialogue have the ability to decrypt messages. In the case of iCloud only the user had the keys: Apple did not. Previously, and for those who have not opted in to the feature, Apple could also read whatever you placed or backed up to the iCloud. Apple have now said that they are removing the option to use this extra security for UK users only.”

How significant is the removal of this data protection tool?

“It is very significant for anyone interested in security and privacy. By trying to mandate to Apple that they withdraw this security option globally the UK government have succeeded in weakening security in one corner of the Internet for UK based users. It was naive of the UK government to think telling Apple what to do globally would work: the UK users now have the worst of all worlds.”

Are there other data protection in place that protects UK populations data on apple devices?

“All the other security features previously on Apple devices remain. All that is being removed is the ability to secure data in the iCloud so that only the user can access it.”

What does this mean for security of our data on apple devices in the UK / how much less secure is our data now?

“Users data is no less secure on the devices. This applies only to the iCloud. However, anyone who wants to ensure the long term security an privacy of their data will not be using the iCloud. What users do need to be aware of is that some data on your mobile device can be backed up to the iCloud, including iMessages. Users will need to ensure this is not enabled if they do not want their data in the iCloud.”

Does the idea the UK Government suggests of a “backdoor” in encryption really work because surely it undermines the whole idea behind end-to-end encryption?

“Ever since the Encryption Debate began security professionals have said that if you weaken encryption (or security in general) for your enemies you also do so for your friends. What the UK government is weakened the security of the corner of the Internet, in spectacular fashion, for the UK users alone. What has been done is not so much a back door as it is removing the door altogether. Apple had put this feature in place precisely because they knew that users did not like the idea that if compelled to do so Apple could read their iCloud data. Hence, ADP meant that only the user could access their won data. The UK government has caused UL users to take a step backward so that Apple could once again be required to read the iCloud data.”

Declared interests

For all experts, no reply to our request for DOIs was received.

MIL OSI United Kingdom –

February 25, 2025
MIL-OSI: Wrap Acquires W1 Global: Expands Managed Services with Former FBI, DEA, and DoD Leadership to Accelerate Made-in-America End-to-End Solutions
Source: GlobeNewswire (MIL-OSI)

This news follows: Wrap Unveils Managed Safety and Response (MSR) Connected Ecosystem in Virginia

TEMPE, Ariz., Feb. 24, 2025 (GLOBE NEWSWIRE) — Wrap Technologies (NASDAQ: WRAP) (“Wrap” or, the “Company”) today announced it has completed the acquisition of W1 Global, LLC (“W1”) a preeminent professional services and consulting firm led by an executive team of former high-ranking law enforcement and U.S. Intelligence Community professionals, with deep competencies in complex international criminal investigation, regulatory matters and compliance issues.

The acquisition of W1 is expected to increase Wraps access to the skill and experience of this distinguished group, as well as expand the international reach of its MSR Connected Ecosystem. It is also expected to support a tech-enabled enhancement of the suite of professional and consulting services that W1 has provided to its clients all over the world.

Wrap’s acquisition has now assembled a deep team of senior leaders from both the public sector and national security agencies:
- Professional Services will be led by Bill McMurry, a career law enforcement and intelligence professional. Mr. McMurry is a retired FBI Supervisory Special Agent who served in the FBI’s New York Office for twenty-four years. Mr. McMurry worked closely with the US DOJ, DEA, ATF, HSI, OFAC, DOD and the USIC to develop a national strategy to implement a whole of government response to combat the threat posed by Transnational Organized Crime.
- Managed Safety and Response will be led by Jim DeStefano, former Assistant Special Agent in Charge of a Special Operations Branch responsible for the New York field division’s preparation for, response to, and recovery from all crisis and special events – including training and tactics in response to emotionally disturbed persons. John Penza, adds experience from state and federal corrections, local law enforcement, and as the former New York Division’s Assistant Special Agent in Charge of the Violent Crimes and Drug Trafficking Branch.
- Investigative, Regulatory and Compliance professional services will be supported by Ric Bachour, a former local and state police officer, U.S. Marine, and Purple Heart recipient. His international experience includes leadership roles in the DEA Sensitive Undercover Operations Unit, Special Operations, and DEA’s Foreign and Domestic Field Offices.
Additional Talent Pipeline and International Go-To-Market

Wrap anticipates accessing a deep talent pool as individuals transition from long government tenures, marking the first of many strategic talent acquisitions to meet growing market demands.

The W1 Global transaction is expected to position Wrap for international expansion by leveraging W1’s global network and expertise in investigative services. This in-country support network, consisting of former government personnel, provides valuable entry points for global distribution while aligning with U.S. resources and support systems.

End-to-End Ecosystem

The W1 Global transaction creates an end-to-end ecosystem with two key business lines: leveraging top talent to deliver comprehensive Managed Safety and Response (MSR) solutions and expanding tech-enabled professional services to enhance client support. Both companies’ clients demonstrate a strong appetite for each other’s services—Wrap’s international clients show significant interest in investigative services, while W1 Global’s clients are keen on Wrap’s BolaWrap, drones, and expanding cyber solutions within the MSR portfolio. This strategic combination effectively meets the market demand for integrated safety and technology-driven professional services, driving growth and enhancing client support.

Scot Cohen, Chairman and Chief Executive Officer of Wrap, commented, “The acquisition of W1 Global is a transformational step in establishing Wrap as a leader in Managed Safety and Response services. It is expected to drive immediate revenue growth, be accretive, and create synergies with our existing business, including the revamped BolaWrap program, while supporting our expanding global channel system.”

Bill McMurry, Chief Executive Officer of W1 Global, commented, “W1 and Wrap can now deliver comprehensive MSR solutions with expert consulting, integration, and customization. By combining cutting-edge technology like the BolaWrap with professional services, we hope to ensure seamless implementation and continuous support. Our deep industry expertise is expected to allow us to optimize safety solutions for public safety agencies, effectively addressing complex challenges.”

About Wrap Technologies, Inc.

Wrap Technologies, Inc. (Nasdaq: WRAP) is a leading global provider of advanced public safety solutions, integrating ultramodern technology, cutting-edge tools, and comprehensive services to address the complex, modern day challenges facing public safety organizations around the world. Guided by a no-harm principle, Wrap is dedicated to developing groundbreaking solutions that empower public safety agencies to safeguard the communities they serve in a manner that fosters stronger relationships, driving safer outcomes, empowering public safety and communities to move forward together.

Wrap’s BolaWrap^® solution encompasses an innovative and patented hand-held remote restraint device, strategically engineered with Wrap’s no-harm guiding principle to proactively deter escalation by deploying a Kevlar^® tether that safely restrains individuals from a distance. Combined with BolaWrap^® training, certified by the esteemed International Association of Directors of Law Enforcement Standards and Training (IADLEST), Wrap enables officers from over 1000 agencies across the U.S. and 60 countries around the world, with the expertise to effectively use BolaWrap^® as an early intervention measure, mitigating potential risks and injuries, averting tragic outcomes, with the goal to save lives with each wrap.

Wrap Reality™, the Company’s advanced virtual reality training system, is a fully immersive training simulator and comprehensive public safety training platform that equips first responders with the discipline and practice to prevent escalation, de-escalate conflicts, and apply appropriate tactical use-of-force measures to better perform in the field. By offering a growing range of real-life scenarios, Wrap Reality™ addresses the dynamic nature of modern law enforcement situations for positive public safety outcomes, building safer communities one decision at a time.

Wrap’s Intrensic solution is a comprehensive, secure and efficient body worn camera and evidence collection and management solution designed with innovative technology to quickly capture, safely handle, securely store, and seamlessly track evidence, all while maintaining full transparency throughout the process. With meticulous consolidation and professional management of evidence, confidence in law enforcement and the justice system soars, fostering trust and reliability in court outcomes. Intrensic’s efficient system streamlines the entire process seamlessly, empowering all public safety providers to focus on what matters, expediting justice with integrity.

Connect with Wrap:
Wrap on Facebook
Wrap on Twitter
Wrap on LinkedIn

Trademark Information

Wrap, the Wrap logo, BolaWrap^®, Wrap Reality™ and Wrap Training Academy are trademarks of Wrap Technologies, Inc., some of which are registered in the U.S. and abroad.  All other trade names used herein are either trademarks or registered trademarks of the respective holders.

Cautionary Note on Forward-Looking Statements – Safe Harbor Statement
This release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Words such as “expect,” “anticipate,” “should”, “believe”, “target”, “project”, “goals”, “estimate”, “potential”, “predict”, “may”, “will”, “could”, “intend”, and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Moreover, forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond the Company’s control. The Company’s actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to: the expected benefits of the acquisition of W1, the Company’s ability to maintain compliance with the Nasdaq Capital Market’s listing standards; the Company’s ability to successfully implement training programs for the use of its products; the Company’s ability to manufacture and produce products for its customers; the Company’s ability to develop sales for its products; the market acceptance of existing and future products; the availability of funding to continue to finance operations; the complexity, expense and time associated with sales to law enforcement and government entities; the lengthy evaluation and sales cycle for the Company’s product solutions; product defects; litigation risks from alleged product-related injuries; risks of government regulations; the business impact of health crises or outbreaks of disease, such as epidemics or pandemics; the impact resulting from geopolitical conflicts and any resulting sanctions; the ability to obtain export licenses for counties outside of the United States; the ability to obtain patents and defend intellectual property against competitors; the impact of competitive products and solutions; and the Company’s ability to maintain and enhance its brand, as well as other risk factors mentioned in the Company’s most recent annual report on Form 10-K, subsequent quarterly reports on Form 10-Q, and other Securities and Exchange Commission filings. These forward-looking statements are made as of the date of this release and were based on current expectations, estimates, forecasts, and projections as well as the beliefs and assumptions of management. Except as required by law, the Company undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations.

Investor Relations Contact:

(800) 583-2652
ir@wrap.com

The MIL Network –
February 25, 2025
MIL-OSI: Halo Investing and NewEdge Investment Solutions Deepen Ties to expand NewEdge Structured Note SMA availability on Leading Wealth Management Platforms

Source: GlobeNewswire (MIL-OSI)

CHICAGO, Feb. 24, 2025 (GLOBE NEWSWIRE) — 2024 was a good year for markets. It was an even better year for Structured Notes, with issuance surging to another record high. Halo Investing (“Halo”), an award-winning platform for protective investing and NewEdge Investment Solutions (“NewEdge”), a GIPS-compliant—division of NewEdge Wealth, LLC with over $4 billion in assets under management, are helping fuel this growth.

A 2023 partnership between the firms made NewEdge’s Structured Note separately managed account (SMA) Strategies available on the Halo platform. Driven by advisor demand and a sign of how quickly the market for Structured Notes is maturing, this week NewEdge announced their suite of Structured Note SMA strategies are now available on investment platforms Envestnet and SMArtX.

“That advisors can now, with just a few simple clicks, add professionally managed Structured Note strategies, cannot be overstated,” said Matt Radgowski, Halo Investing’s CEO. “A few years ago, if an advisor wanted to add Notes to a client portfolio, it could take weeks and countless follow-ups. Those days are gone. Our partnership with NewEdge makes Structured Note investing easier than ever. If you’re still treating these products as operationally complicated, your competitors are eating your lunch.”

“We’re proud to lead the revolution on how investors access and position Structured Notes in their portfolios,” adds NewEdge Structured Note Strategies Portfolio Manager Michaelangelo Dooley, CFP®. “The benefits of Structured Notes for suitable clients are well-documented, but client education and achieving the best execution and portfolio integration has traditionally been cumbersome for financial advisors. With Halo’s support, we are proud to offer advisors across the country our differentiated, managed solutions and provide them a better way to invest in Structured Notes.”

With the help of NewEdge’s portfolio management expertise, Halo Investing leads the distribution and advisor onboarding of NewEdge strategies. Halo’s library of educational resources helps advisors make the most of Structured Notes. If you’re interested in learning more, please email us at marketplace.sales@haloinvesting.com, and the Halo team will follow up.

About Halo Investing
Founded in 2015, Halo Investing is an award-winning technology platform that disrupts how protective investment solutions are used worldwide. Headquartered in Chicago, with an office in Abu Dhabi, Halo is democratizing access to investment solutions, including Structured Notes and annuities, that were previously unavailable to most investors. Halo has received a growing number of honors and was recently named one of Fast Company’s Ten Most Innovative Companies. For more information, please visit: http://www.haloinvesting.com.

Halo Investing, Inc. is not a broker/dealer. Securities offered through Halo Securities, LLC, a SEC registered broker/dealer and member of FINRA/SIPC. Halo Securities, LLC is affiliated with Halo Investing Insurance Services, LLC and Halo Investment Services, LLC. Halo Securities, LLC acts solely as distributor/selling agent and is not the issuer or guarantor of any structured note products.

For media inquiries, please contact:
Halo Investing
Vladislav Moldavskiy
vlad.moldavskiy@haloinvesting.com

About NewEdge Wealth
NewEdge Wealth is a division of NewEdge Capital Group, LLC. NewEdge Capital Group services multiple business lines and supports over 450 financial advisors servicing several thousand households, family offices and institutions. NewEdge Capital Group, LLC, a Barron’s Top 100 RIA Firm and Forbes’ America’s Top RIA Firm*, is the wealth management business unit of EdgeCo Holdings LP, which has over 900 employees.

NewEdge Wealth is designed to meet the needs of ultra high net worth, family office and institutional clients. The division seeks to provide a select group of clients with a personalized level of service and attention designed to help organize and simplify their lives, while also providing access to an expansive menu of institutional caliber products and services — all wrapped in technology that serves as the connective tissue between the client and their advisor to create a stronger, more personal relationship. Investment advisory services are offered through NewEdge Wealth, LLC, a registered investment adviser. Securities are offered through NewEdge Securities, LLC, Member FINRA/SIPC. NewEdge and its affiliates do not render advice on legal, tax and/or tax accounting matters to clients. Each client should consult his/her personal tax and/or legal advisor to learn about any potential tax or other implications that may result from acting on a particular recommendation.

*Barron’s rankings awarded in September 2024 based on prior 12 month data. Forbes/Shook rankings awarded in October 2024 based on data from 3/31/23-3/31/24. Neither NewEdge Wealth nor its employees pay a fee in exchange for these rankings.

Media Inquiries
Donald Cutler or Lorene Yue
Haven Tower Group
424.317.4864 or 424.317.4854
dcutler@haventower.com or lyue@haventower.com

The MIL Network –

February 25, 2025
MIL-OSI: Intapp to Participate in Upcoming Investor Conference

Source: GlobeNewswire (MIL-OSI)

PALO ALTO, Calif., Feb. 24, 2025 (GLOBE NEWSWIRE) — Intapp, Inc. (NASDAQ: INTA), a leading global provider of AI-powered solutions for professionals at advisory, capital markets, and legal firms, today announced that senior management will attend and present at the following upcoming investor conference:

Morgan Stanley Technology, Media & Telecom Conference
Date: Monday, March 3, 2025
Location: San Francisco, California
Presentation: 9:15am PT

A live webcast of the event and archived webcast will be accessible from the “News and Events” section of the company’s investor relations website at https://investors.intapp.com/.

About Intapp

Intapp software helps professionals unlock their teams’ knowledge, relationships, and operational insights to increase value for their firms. Using the power of Applied AI, we make firm and market intelligence easy to find, understand, and use. With Intapp’s portfolio of vertical SaaS solutions, professionals can apply their collective expertise to make smarter decisions, manage risk, and increase competitive advantage. The world’s top firms — across accounting, consulting, investment banking, legal, private capital, and real assets — trust Intapp’s industry-specific platform and solutions to modernize and drive new growth.

Investor contact

David Trone
Senior Vice President, Investor Relations
Intapp, Inc.
ir@intapp.com

Media contact

Ali Robinson
Global Media Relations Director
Intapp, Inc.
press@intapp.com

The MIL Network –

February 25, 2025
MIL-OSI: CBAK Energy’s 32140 Cells Capture 19% of Global Market Share, Report Shows

Source: GlobeNewswire (MIL-OSI)

DALIAN, China, Feb. 24, 2025 (GLOBE NEWSWIRE) — CBAK Energy Technology, Inc. (NASDAQ: CBAT) (“CBAK Energy” or the “Company”), a leading manufacturer of lithium-ion and sodium-ion batteries and electric energy solutions in China, today announced its significant global market share in the rapidly growing large cylindrical battery segment, which saw remarkable growth in 2024.

According to the latest report from Start Point Institute of Research (“SPIR Report”), global shipments of Series 32 large cylindrical batteries, which includes the Company’s 32140 cylindrical cells, surged to 102 million units in 2024, with a year-over-year increase of 14.29%. CBAK Energy played a pivotal role in this growth, delivering 19.42 million units of its 32140 large cylindrical batteries, capturing approximately 19% of the global market share of Series 32 batteries.

The SPIR Report further noted that total global shipments of large cylindrical batteries, encompassing both Series 32 and Series 40 cylindrical cells, reached 175 million units in 2024. Of this total, CBAK Energy’s 32140 cylindrical cells accounted for an estimated 11.1% of combined global shipments, underscoring the Company’s substantial contribution to this fast-growing market.

In addition, the SPIR Report highlighted that shipments of other cylindrical battery series, including Series 26, 46, 60, and 66, totaled 500 million units globally in 2024, with Series 26 likely comprising the largest portion. CBAK Energy also made significant strides in this segment, shipping approximately 32.04 million units of its 26650 and 26700 cylindrical batteries in 2024, which represents around 6.4% of the combined global market share.

The global cylindrical battery market as a whole saw impressive growth in 2024, with total shipments reaching 14.61 billion units, marking a 10.9% year-over-year increase, as reported by SPIR. This surge was driven by the growing demand for large cylindrical batteries across a variety of applications, including new energy vehicles, electric two- and three-wheelers, portable power stations, power tools, and drones. CBAK Energy’s commanding market share in Series 32 batteries and large cylindrical batteries highlights the Company’s leadership in providing high-performance, reliable energy storage solutions. To meet the rising demand, both of CBAK Energy’s production lines for 32140 batteries are operating at full capacity. The Company’s 40135 cylindrical cells, classified under the Series 40 battery category, are set to be launched in 2025.

“We are encouraged by our performance in the large cylindrical battery market in 2024,” said Zhiguang Hu, Chief Executive Officer of CBAK Energy. “The significant growth in this segment, driven by increased adoption in electric two-wheelers and portable power solutions, highlights our ability to meet the evolving needs of our customers. Our strong market share reflects our ongoing commitment to innovation, quality, and delivering exceptional energy storage solutions.”

About CBAK Energy
CBAK Energy Technology, Inc. (NASDAQ: CBAT) is a leading high-tech enterprise in China engaged in the development, manufacturing, and sales of new energy high power lithium batteries and raw materials for use in manufacturing high power lithium batteries. The applications of the Company’s products and solutions include electric vehicles, light electric vehicles, electric tools, energy storage, uninterruptible power supply (UPS), and other high-power applications. In January 2006, CBAK Energy became the first lithium battery manufacturer in China listed on the Nasdaq Stock Market. CBAK Energy has multiple operating subsidiaries in Dalian, Nanjing and Shaoxing, as well as a large-scale R&D and production base in Dalian.

For more information, please visit ir.cbak.com.cn.

Safe Harbor Statement
This press release contains “forward-looking statements” that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations and financial position, strategy and plans, and our expectations for future operations, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. We have attempted to identify forward-looking statements by terminology including “anticipates,” “believes,” “can,” “continue,” “could,” “estimates,” “expects,” “intends,” “may,” “plans,” “potential,” “predicts,” “should,” or “will” or the negative of these terms or other comparable terminology. Our actual results may differ materially or perhaps significantly from those discussed herein, or implied by, these forward-looking statements.

The forward-looking statements included in this press release are made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking statements, other than as required by applicable law.

For further inquiries, please contact:
In China:
CBAK Energy Technology, Inc.
Investor Relations Department
Email: ir@cbak.com.cn

The MIL Network –

February 25, 2025
MIL-OSI: FormFactor Announces the Closing of FICT Transaction

Source: GlobeNewswire (MIL-OSI)

LIVERMORE, Calif., Feb. 24, 2025 (GLOBE NEWSWIRE) — FormFactor, Inc. (Nasdaq: FORM) is pleased to announce the closing of its acquisition, together with North Asia private equity firm MBK Partners (“MBKP”), of FICT Limited (“FICT”). As stated on February 5^th, 2025, this transaction secures FormFactor’s access to FICT’s essential technologies for advanced probe cards, strengthens the long-term partnership between the companies, and positions FICT to continue developing leading-edge technologies for its customers in the semiconductor and high-performance computing markets.

FormFactor invested approximately $60M for a 20% non-controlling stake and was granted a seat on the company’s board of directors. This investment is not expected to have a material impact on FormFactor’s operating results.

“FormFactor and MBKP are committed to the success of FICT and FICT’s customers,” commented Mike Slessor, FormFactor CEO. “This transaction solidifies our important collaboration with FICT to build world-class test and packaging consumables, and strengthens the semiconductor test supply chain serving the rapidly accelerating adoption of advanced packaging.”

About FormFactor:

FormFactor, Inc. (NASDAQ: FORM), is a leading provider of essential test and measurement technologies along the full semiconductor product life cycle – from characterization, modeling, reliability, and design de-bug, to qualification and production test. Semiconductor companies rely upon FormFactor’s products and services to accelerate profitability by optimizing device performance and advancing yield knowledge. The Company serves customers through its network of facilities in Asia, Europe, and North America. For more information, visit the Company’s website at www.formfactor.com.

Forward-looking Statements:

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the federal securities laws, including with respect to the Company’s future financial and operating results, and the Company’s plans, strategies and objectives for future operations. These statements are based on management’s current expectations and beliefs as of the date of this release, and are subject to a number of risks and uncertainties, many of which are beyond the Company’s control, that could cause actual results to differ materially from those described in the forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding the expected impact of the transaction on the Company’s operating results, the expected benefit of the transaction to the Company and the industry, and other statements regarding the Company’s business. Forward-looking statements may contain words such as “may,” “might,” “will,” “expect,” “plan,” “anticipate,” “forecast,” and “continue,” the negative or plural of these words and similar expressions, and include the assumptions that underlie such statements. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: changes in demand for the Company’s products; customer-specific demand; market opportunity; anticipated industry trends; the potential impact on the business of FormFactor and FICT due to uncertainties in connection with the acquisition; the retention of employees of FICT following acquisition; the ability of FormFactor to achieve expected benefits from the FICT acquisition; the availability, benefits, and speed of customer acceptance or implementation of new products and technologies; manufacturing, processing, and design capacity, goals, expansion, volumes, and progress; difficulties or delays in research and development; industry seasonality; risks to the Company’s realization of benefits from acquisitions, investments in capacity and investments in new electronic data systems and information technology; reliance on customers or third parties (including suppliers); changes in macro-economic environments; events affecting global and regional economic and market conditions and stability such as military conflicts, political volatility, infectious diseases and pandemics, and similar factors, operating separately or in combination; and other factors, including those set forth in the Company’s most current annual report on Form 10-K, quarterly reports on Form 10-Q and other filings by the Company with the U.S. Securities and Exchange Commission. In addition, there are varying barriers to international trade, including restrictive trade and export regulations such as the US-China restrictions, dynamic tariffs, trade disputes between the U.S. and other countries, and national security developments or tensions, that may substantially restrict or condition our sales to or in certain countries, increase the cost of doing business internationally, and disrupt our supply chain. No assurances can be given that any of the events anticipated by the forward-looking statements within this press release will transpire or occur, or if any of them do so, what impact they will have on the results of operations or financial condition of the Company. Unless required by law, the Company is under no obligation (and expressly disclaims any such obligation) to update or revise its forward-looking statements whether as a result of new information, future events, or otherwise.

Source: FormFactor, Inc.
FORM-F

Investor Contact
Stan Finkelstein
Investor Relations
(925) 290-4273
ir@formfactor.com

The MIL Network –

February 25, 2025
MIL-OSI: Baker Hughes Appoints Ahmed Moghal Chief Financial Officer
Source: GlobeNewswire (MIL-OSI)
- Experienced Baker Hughes finance leader will play key role in driving next phase of strategic transformation and growth
HOUSTON and LONDON, Feb. 24, 2025 (GLOBE NEWSWIRE) — Baker Hughes Company (NASDAQ: BKR) (“Baker Hughes” or the “Company”) on Monday announced that Ahmed Moghal, a highly experienced finance leader who currently serves as chief financial officer (CFO) of our Industrial & Energy Technology (IET) business, has been appointed CFO of the Company, effective immediately. Prior to IET, Moghal held senior positions in various business and corporate roles. In this role, he succeeds Nancy Buese, who, by mutual agreement with the Company, ceased to serve as CFO effective today.

Lorenzo Simonelli, Baker Hughes chairman and chief executive officer, said, “The news we are announcing today reflects the substantial progress Baker Hughes has made in executing our strategic transformation. Reflecting on the financial successes achieved during Horizon 1, we drove record results last year while taking key actions across the Company to significantly expand margins. As we progress into the next horizon, our focus remains on driving profitable growth across the Company as we further exploit our versatile IET portfolio, leverage growth across the natural gas and LNG value chain, scale our new energy and digital businesses, and drive enhanced growth in mature assets solutions.”

He continued, “As we embark on this next phase of growth, it is crucial to have a CFO with deep-domain knowledge across both business segments, a track record of fostering collaboration and strong financial performance, and a comprehensive understanding of our growth strategy. As part of his previous roles in Baker Hughes, and as well as currently leading free cash flow efforts across the Company, Moghal has developed unique insights into our business and broad portfolio that will ensure we efficiently allocate capital to drive profitable growth while remaining focused on continuous margin improvement. We are confident he is the right person to help us deliver on our financial objectives and support a culture of innovation and a growth mindset across the Company.”

The Company reaffirmed its first-quarter and full-year 2025 outlook shared during its 2024 fourth-quarter and full-year earnings conference call on Jan. 31, 2025. This includes projecting another solid year of EBITDA growth, achieving a 20% EBITDA margin for its OFSE segment in 2025 and the IET segment in 2026, and committed to returning 60% to 80% of free cash flow to shareholders.

With Moghal’s appointment, Buese will move to a strategic adviser role and will depart the Company on April 30, 2025.

Simonelli added, “We are grateful to Nancy for the important role she played in executing on key pillars of the first phase of our transformation, including driving operational efficiency and achieving cost reduction objectives to deliver enhanced margin growth and shareholder returns. We wish her all the best in her future endeavors.”

Moghal has served as senior vice president & CFO of the Industrial and Energy Technology business of Baker Hughes since 2023. Prior to this role, he was appointed as the financial planning & analysis leader at the time of the merger of Baker Hughes and GE Oil & Gas in 2017. In his more than two decades of experience, Moghal has worked in several industries globally, driving performance across multiple business models and cycles. He started his career in GE in the Financial Management Program and subsequently Corporate Audit Staff.

About Baker Hughes:

Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.

For more information, please contact:

Investor Relations

Chase Mulvehill
+1 346-297-2561
investor.relations@bakerhughes.com

Media Relations

Adrienne M. Lynch
+1 713-906-8407
adrienne.lynch@bakerhughes.com

The MIL Network –
February 25, 2025

MIL-OSI: JAMining Launches Limited-Time High-Yield Bitcoin Cloud Mining Plan with an Opportunity to Earn up to $10,850 Daily

Source: GlobeNewswire (MIL-OSI)

LONDON, Feb. 24, 2025 (GLOBE NEWSWIRE) — JAMining has announced the launch of its exclusive high-yield Bitcoin cloud mining plan, available for a limited time. This new plan offers users the opportunity to earn up to $10,850 per day without the need for expensive hardware or technical expertise. As cloud mining gains popularity as a passive income stream, JAMining’s latest offering stands out as a timely opportunity for both novice and experienced investors to capitalize on the growing crypto market.

How to Easily Start JAMining Free Cloud Mining？

Cloud mining is a simple and secure way to invest in cryptocurrency, perfect for investors of all levels. Whether you are a beginner or an experienced investor, you can follow the steps below to get started quickly：

“Start making money”

1. Register a JAMining account

Click the “Get Your $100” button and follow the simple steps to complete the registration and start your cloud mining journey

2. Select a contract plan

JAMining provides flexible contract plans to meet the needs of different investors and help you achieve your ideal profit goals. The following are some contract examples:

Contract Amount	Duration	Daily Profit	Total Income	Total Return (Principal + Income)
$100	1 day	1%	$1	$100 + $1
$200	2 days	3.5%	$7	$200 + $7
$500	3 days	1.8%	$9	$500 + $27
$1000	5 days	1.9%	$19	$1000 + $95
$2600	10 days	1.95%	$50.70	$2600 + $507
$10000	20 days	2.1%	$210	$10000 + $4200

3. Monitor earnings

Your daily income will be automatically settled within 24 hours and updated to your account in real time. You can check your income at any time.

4. Invite friends to make money

Invite friends to register and purchase computing power through exclusive invitation codes. You can not only increase your friends’ income, but also get an additional 7% referral reward.

Affiliate Program Highlights:

Long-term benefits: The referrer can continue to profit from every investment of the referred user, no matter when it occurs.
Simple promotion: With the exclusive invitation code, the referrer can easily invite friends to join the platform.
Win-win: Not only help others enter the cryptocurrency field, but also achieve personal wealth growth.

Why choose JAMining？

Advanced technical support

JAMining platform uses the latest mining technology and efficient hardware equipment to provide users with high-yield, low-cost mining services, covering mainstream cryptocurrencies such as Bitcoin and Ethereum.

Flexible investment options

Whether you are a novice small investor or a large-scale fund manager, JAMining can provide you with a tailor-made mining plan to help you maximize your profits.

24/7 security guarantee

The platform uses distributed storage, data encryption and multiple firewall technologies to ensure the security of your assets. In addition, JAMining provides 24-hour customer support to answer your questions at any time.

International (FCA) certification guarantee

JAMining platform has been certified by the UK Financial Conduct Authority (FCA), which means that the platform has reached international standards in terms of security and compliance, greatly enhancing user trust

Summarize

JAMining provides an efficient source of passive income through an easy-to-understand contract purchase method. Whether you are a novice in cryptocurrency or an experienced investor, you can quickly get started on this platform and start automatically growing your crypto assets. JAMining will continue to optimize the platform functions to bring more investment opportunities and value to global users.

Official Website: https://jamining.com/

Email: info@jamining.com

Contact: Apostolakis

Disclaimer: This press release is provided by JAMining. The statements, views, and opinions expressed in this content are solely those of JAMining and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in cloud mining and related opportunities involves significant risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release.

Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/44a94024-5458-46c9-90f5-1858fd4f7d46
https://www.globenewswire.com/NewsRoom/AttachmentNg/c9403551-81ba-49b0-b712-81cada9f484d
https://www.globenewswire.com/NewsRoom/AttachmentNg/a9dd8cba-49b2-45d9-9852-831b846b66f6

The MIL Network –

February 25, 2025

MIL-OSI: Sprout Social Customers Achieved 268% Return on Investment According to New Independent Study
Source: GlobeNewswire (MIL-OSI)

CHICAGO, Feb. 24, 2025 (GLOBE NEWSWIRE) — Sprout Social (Nasdaq: SPT), an industry-leading provider of cloud-based social media management software, today announced the release of a Total Economic Impact™ study conducted by Forrester Consulting. The 2025 study reveals that Sprout Social enabled customers to achieve a return on investment (ROI) of 268% and a net present value (NPV) of $1.3 million over three years with a payback period of less than six months.

The commissioned study conducted by Forrester Consulting on behalf of Sprout Social found that prior to Sprout Social, interviewed customers’ social teams spent 70% of their time scheduling and publishing posts, listening, replying on social media channels, and planning campaigns. By streamlining these processes and providing direct access to key performance and customer insights, the study found that Sprout Social customers saw a 60% productivity lift, enabling social teams to focus on more impactful work that increases audience engagement, improves customer satisfaction and boosts revenue.

Sprout customers saw time savings and significant ROI across owned channels, influencer campaigns and employee advocacy programs.

“Social is now one of the greatest and most important touchpoints an organization has with their customers,” said Scott Morris, CMO of Sprout Social. “Without an intuitive tool, managing campaigns across social–whether on owned channels or through an influencer program–isn’t possible. We’ve built a platform that helps brands make the most of their social investments to develop competitive, scalable strategies that unlock the full potential of social. This study reinforces the value we bring to customers while also underscoring the considerable value and ROI of social.”

Customers reported that Sprout’s unified platform, AI-powered features and reporting capabilities enabled them to refocus their time on more important tasks and develop content and campaigns that better resonated with their audience and generated ROI. The Forrester study also found that a composite organization of interviewed Sprout Social customers realized the following benefits over three years:
- Reduction of 80% in employee time spent on social media reporting.
- Time savings of 60%, worth $1.1 million, on scheduling and publishing posts, social listening, replying on social media channels, and planning campaigns.
- Time savings of 25% on discovering and managing influencers when leveraging Sprout Social Influencer Marketing
- Increased organic traffic and $130,000 in additional revenue by leveraging Employee Advocacy by Sprout Social.
These findings reflect the benefits that brands have seen by utilizing Sprout’s platform. In the study, customers said:

“Sprout Social gives us time to strategize around our content and make it high-quality so that people respond to it. Sprout was able to take the stuff that we were spending a ton of time on so that we can sit down and figure out what’s working and really lean into it.”

“I would have to at least triple the size of my team if I didn’t have Sprout.”

“We’ve had a significant increase in engagement since using Sprout. Even just this past quarter, year over year, we’ve seen a 600% increase in engagement across our social media channels. We have more time to strategize versus time on executing content.”

For more information on the Total Economic Impact™ study of Sprout Social please visit https://sproutsocial.com/insights/data/forrester-tei-study/, and learn more about Sprout Social at sproutsocial.com.

About Sprout Social

Sprout Social is a global leader in social media management and analytics software. Sprout’s intuitive platform puts powerful social data into the hands of approximately 30,000 brands so they can deliver smarter, faster business impact. Named the #1 Best Software Product by G2’s 2024 Best Software Award, Sprout offers comprehensive publishing and engagement functionality, customer care, influencer marketing, advocacy, and AI-powered business intelligence. Sprout’s software operates across all major social media networks and digital platforms. For more information about Sprout Social (NASDAQ: SPT), visit sproutsocial.com.

Social Media Profiles:
www.twitter.com/SproutSocial
www.twitter.com/SproutSocialIR
www.facebook.com/SproutSocialInc
www.linkedin.com/company/sprout-social-inc-/
www.instagram.com/sproutsocial

Contact
Media:
Kaitlyn Gronek
Email: pr@sproutsocial.com
Phone: (773) 904-9674

Investors:
Lexi Johnson
Twitter: @SproutSocialIR
Email: lexi.johnson@sproutsocial.com
Phone: (312) 528-9166

The MIL Network –
February 25, 2025
MIL-OSI: Federal Home Loan Bank of Atlanta Commits $60 Million for Homeownership Grants
Source: GlobeNewswire (MIL-OSI)

ATLANTA, Feb. 24, 2025 (GLOBE NEWSWIRE) — The Federal Home Loan Bank of Atlanta (FHLBank Atlanta) announced today that it is making $60 million in grant funding available through two enhanced programs to help families and individuals purchase or rehabilitate a home. Financial institutions that are members of FHLBank Atlanta can apply for funding to distribute to eligible customers beginning today, Feb. 24, 2025.

“We are pleased to expand our support for homebuyers and homeowners this year, especially in light of challenges including high home prices and recent natural disasters,” said FHLBank Atlanta President and CEO Kirk Malmberg. “These programs have been designed to assist both first-time and repeat homebuyers, low- and moderate-income families, members of public service occupations, and those in declared emergency areas. We anticipate this funding will significantly impact the lives of thousands of people.”

FHLBank Atlanta is committing $40 million through its 2025 Affordable Housing Program (AHP) Homeownership Set-aside Program. Each member financial institution can access up to $750,000 to distribute through three products:
- First-time Homebuyer: Provides up to $17,500 in downpayment, closing cost, or rehabilitation assistance to first-time homebuyers in connection with the purchase of an existing home. This is an increase from $12,500 offered in 2024.
- Community Partners: Provides up to $20,000 in downpayment, closing cost, counseling, or rehabilitation assistance in connection with the purchase or purchase and rehabilitation of an existing home by employed or retired law enforcement officers, educators, firefighters, health care workers, veterans and surviving spouses, and other first responders. This is an increase from $15,000 offered in 2024.
- Community Rebuild and Restore: Provides up to $25,000 in funding for the rehabilitation of an existing owner-occupied home in Major Disaster Declaration areas as designated by the Federal Emergency Management Agency (FEMA) or by a local, state, or other federal government agency. This funding per unit is up from $10,000 in 2024.
FHLBank Atlanta is contributing $20 million to promote affordable housing through its Workforce Housing Plus+ Program, developed for borrowers with incomes between 80.01% and 120% of the area median income (AMI).
- Member financial institutions can access up to $500,000 each and disburse grants up to $15,000 per eligible borrower for downpayment and closing costs.
- Homes must be the primary residence of each grant recipient and located in FHLBank Atlanta’s district, which includes Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and the District of Columbia.
“As a member of FHLBank Atlanta, we have access to a range of affordable housing programs, including downpayment assistance, which reduces barriers to homeownership for many people,” said Paul Phillips, President and CEO of Freedom First Federal Credit Union. “By applying for FHLBank Atlanta funding to distribute, we are creating a ripple effect of positive change – empowering local individuals and families to invest in their futures and build generational wealth while strengthening communities. As a community development financial institution (CDFI), these programs are a powerful way that we fulfill our mission to help people prosper and help communities thrive.”

Visit the FHLBank Atlanta website for full detail and eligibility requirements for the 2025 Homeownership Set-aside Program and Workforce Housing Plus+ Program. Funds to member institutions are available on a first-come, first-served basis. Borrower contribution and credit counseling are required for most products.

If you need assistance connecting with a member financial institution, or for more information, call the Bank’s Community Investment Services department at 1.800.536.9650, option 3.

About FHLBank Atlanta
FHLBank Atlanta offers competitively-priced financing, community development grants, and other banking services to help member financial institutions make affordable home mortgages and provide economic development credit to neighborhoods and communities. The Bank’s members – its shareholders and customers – are commercial banks, credit unions, savings institutions, community development financial institutions, and insurance companies located in Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and the District of Columbia. FHLBank Atlanta is one of 11 district Banks in the Federal Home Loan Bank System. Since 1990, the FHLBanks have awarded approximately $9.1 billion in Affordable Housing Program funds, assisting more than 1.2 million households.

For more information, visit our website at www.fhlbatl.com.

CONTACT: Sheryl Touchton
Federal Home Loan Bank of Atlanta
stouchton@fhlbatl.com

The MIL Network –
February 25, 2025
MIL-OSI Security: Iron River Man Sentenced To 84 Months In Federal Prison For Drug Possession And Drug Trafficking

Source: Office of United States Attorneys

GRAND RAPIDS – Acting U.S. Attorney for the Western District of Michigan Andrew Birge today announced that Matthew Joseph Sheehan, 45, of Iron River, was sentenced to 84 months in federal prison for possessing methamphetamine with intent to distribute.

According to court records, investigators received information that Sheehan was traveling out of state to obtain illicit drugs for distribution in the Upper Peninsula, including methamphetamine, MDMA, and cocaine. In June 2023, Sheehan was pulled over in Iron County for a traffic infraction. During the traffic stop, officers found nearly a pound of methamphetamine, a smaller quantity of cocaine, and more than $6,000 in cash. A subsequent search of Sheehan’s residence recovered additional drugs and over $37,000.

The Michigan State Police, Upper Peninsula Substance Enforcement Team (UPSET), Drug Enforcement Administration, Department of Homeland Security Investigations, Iron River Police Department, and Iron County Sheriff’s Office investigated this case.

# # #

MIL Security OSI –

February 25, 2025
MIL-OSI: TruGolf Links to Launch Revolutionary Hybrid Golf Concept for Franchisees

Source: GlobeNewswire (MIL-OSI)

Nexus Golf Invests for Minority Stake in TruGolf Links Subsidiary

Salt Lake City, Utah, Feb. 24, 2025 (GLOBE NEWSWIRE) — TruGolf Links, the franchise subsidiary of TruGolf Holdings, announced it’s bringing an innovative, fully patented hybrid golf simulator solution to the franchise market. This cutting-edge technology, five years in development, puts simulator technology onto physical golf courses allowing for a new, tech infused way of playing golf. Merging the virtual and physical worlds of golf has been recently popularized by the high-profile TGL (Tomorrow Golf League) giving proof that the golfing world is open to new and different playing formats. This groundbreaking product is made possible by TruGolf Links long standing close relationship with Nexus Golf. To further that relationship, Nexus Golf has announced a strategic investment in TruGolf Links.

With this breakthrough, regional developers will have access to a next-generation indoor-outdoor golf experience, allowing consumers in their area to engage with the sport in an entirely new way. By merging advanced simulation technology with real-world gameplay, this hybrid solution offers a compelling and immersive alternative to traditional golf, making the sport more accessible, interactive, and engaging for players of all skill levels. It also will change the business equation for golf course operators, expanding operating hours, better leveraging existing infrastructure and creating new revenue streams. Hybrid golf technology will allow for full length golf to be played at night without lighting an entire golf course. Night golf is currently limited to smaller par 3 golf courses.

“The decision to invest for a minority stake in TruGolf Links and reinforce our partnership was easy and obvious given our shared mission of redefining what is possible in golf through technology.” Said Tim Vale, Owner of Nexus Golf, LLC and Inventor of Nexus Hybrid Golf. Nexus Golf will invest $2 million in TruGolf Links and has already made the first tranche of the investment.

TruGolf Links, the fast-growing franchise subsidiary of TruGolf Holdings, has positioned itself as a leader in the evolution of golf entertainment. With Nexus Golf’s backing, the brand is set to accelerate its expansion, providing franchise partners with a unique opportunity to deliver a broad array of customer solutions while capitalizing on the growing demand for immersive, technology-driven golf experiences.

“This is a game-changer for the sport and the business of golf,” said Ben Litalien, Chief Development Officer at TruGolf Holdings. “By integrating the hybrid simulator concept into our franchise model, we are empowering regional developers to redefine the golf experience for a new generation of players. The Hybrid Golf product solves virtually every problem in golf including the time it takes to play, lost golf balls, land required, maintenance costs, intimidation factor and more.”

The patented hybrid golf simulator solution will be rolled out across TruGolf Links franchise locations, creating new revenue streams for entrepreneurs while giving golf enthusiasts an exciting, modern way to enjoy the game year-round. We anticipate the first hybrid franchise location to be operational by the end of 2025.

For more information on TruGolf Links franchise opportunities and the Nexus Golf investment, contact:

Ben Litalien
Chief Development Officer
TruGolf Links
franchise@trugolflinks.com
1-888-845-4657
trugolflinks.com

About Nexus Golf

Nexus Golf is a forward-thinking solutions company dedicated to advancing the future of golf through technology. Nexus Golf’s mission is to make the game more fun and accessible for consumers and more profitable for business owners.

About TruGolf Links Franchising

While the company offers individual franchises, the focus of its expansion efforts is with Regional Developers who acquire a territory of 1M or more in population, open a flagship location within that territory, then develop the territory with additional units they own or with independent franchisees. Regional Developers are compensated for attracting franchisees and providing support locally to all TruGolf Links locations within their territory.

For more information about TruGolf Links franchise program, visit: www.trugolflinks.com/franchising.

The MIL Network –

February 25, 2025
MIL-OSI: Gabelli Dividend & Income Trust Trustees Have Approved Spin-Off of Gabelli Preferred Securities Trust Focusing on Preferred Securities

Source: GlobeNewswire (MIL-OSI)

RYE, N.Y., Feb. 24, 2025 (GLOBE NEWSWIRE) — The Board of Trustees of The Gabelli Dividend & Income Trust (NYSE: GDV) (the “Fund” or “GDV”) has approved the spin off a newly created closed-end fund (Gabelli Preferred Securities Trust or “GPS”) whose investment objective will be to seek income and capital appreciation by investing in preferred securities. As investor preferences change and vary across portions of the capital structure, the Fund, which has focused on common equity, is considering additional allocation to preferred securities.

The Fund would contribute approximately $150 million of its cash and/or securities to GPS and would then distribute all of the shares of GPS pro rata to the common shareholders of GDV. GPS will seek to have its shares listed on the New York Stock Exchange. Following the spin off, GPS is expected to deploy leverage, the amount of which is to be determined.

It is expected that GDV’s distribution policy will remain unchanged. The Board of Trustees of GPS will determine the distribution rate of the new closed-end fund at the time of the spin-off.

The transaction is expected to be voted upon at a meeting of shareholders of the Fund following requisite regulatory approvals. There are no assurances that such shareholder and regulatory approvals will be received.

The Board of Trustees of the Fund will determine the amount of cash and/or securities to be contributed, the number of shares to be distributed, and the record and distribution dates, which will be announced at a later time.

For more information regarding this press release, call:

Investor Relations Team
Carter Austin, Laurissa Martire, David Schachter, and Bethany Uhlein
(914) 921-5070

This press release is not intended to, and does not constitute an offer to purchase or sell any securities; nor is this press release intended to solicit a proxy from any shareholder. The solicitation of proxies in connection with the special meeting of shareholders to effect the transaction will only be made by a final, effective Registration Statement on Form N-14, which includes a definitive Proxy Statement/Prospectus, after the Registration Statement is declared effective by the Securities and Exchange Commission (the “SEC”). This Registration Statement has yet to be filed with the SEC. After the Registration Statement is filed with the SEC, it may be amended or withdrawn and the Proxy Statement/Prospectus will not be distributed to shareholders unless and until the Registration Statement is declared effective by the SEC.

The Fund and its trustees, officers and employees and the Fund’s investment adviser and its officers and employees and other persons may be deemed to be participants in the solicitation of proxies in connection with the special meeting of shareholders. Investors and shareholders may obtain more detailed information regarding the direct and indirect interests of the Fund’s trustees, officers and employees and other persons by reading the Proxy Statement/Prospectus relating to the special meeting of shareholders when it is filed with the SEC.

Investors and security holders of the Fund are urged to read the Proxy Statement/Prospectus and other documents filed with the SEC carefully and in their entirety when they become available because these documents will contain important information about the transaction. Investors should consider the investment objective, risks, charges and expenses of the Fund carefully. The Proxy Statement/Prospectus will contain information with respect to the investment objective, risks, charges and expenses of the Fund and other important information about the Fund.

Security holders may obtain free copies of the Registration Statement and Proxy Statement/Prospectus and other documents (when they become available) filed with the SEC at the SEC’s web site at www.sec.gov. In addition, free copies of the Proxy Statement/Prospectus and other documents filed with the SEC may also be obtained after the Registration Statement becomes effective by calling the Fund at (914) 921-5070.

THE GABELLI DIVIDEND & INCOME TRUST
Investor Relations Team:
Carter Austin
Laurissa Martire
David Schachter
Bethany Uhlein

(914) 921-5070
ClosedEnd@gabelli.com

The Fund also files annual and semi-annual reports and other information with the SEC. You may request a free copy of our annual and semiannual reports or request other information about us and make shareholder inquiries by calling (914) 921-5070. You may also obtain copies of the Fund’s annual and semi-annual reports (and other information regarding the Fund) from the SEC’s website (http://www.sec.gov).

About The Gabelli Dividend & Income Trust

The Gabelli Dividend & Income Trust is a diversified, closed-end management investment company with $3.0 billion in total net assets whose primary investment objective is to provide a high level of total return with an emphasis on dividends and income. The Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (OTCQX: GAMI).

NYSE – GDV
CUSIP – 36242H104

The MIL Network –

February 25, 2025
MIL-OSI: Blockchain is Growing Fast, and Cloud Mining is a Popular Investment – ION Mining Expands Global Operations with High-Yield Contracts
Source: GlobeNewswire (MIL-OSI)

LONDON, Feb. 24, 2025 (GLOBE NEWSWIRE) — ION Mining, a leading global cloud mining platform, is excited to announce its latest cloud mining plans for 2025, designed to offer investors and cryptocurrency enthusiasts higher returns, enhanced sustainability, and greater accessibility. With the rapid expansion of the cryptocurrency market, ION Mining continues to revolutionize Bitcoin and Ethereum mining with cutting-edge technology and environmentally friendly solutions.

Introducing New High-Yield Mining Contracts

To meet the growing demand for secure and profitable cloud mining, ION Mining has launched exclusive 2025 mining contracts, offering competitive returns and a seamless user experience:
- Basic Cloud Computing Plan – Invest $300, earn $27.3 in 5 days
- Classic Cloud Computing Plan – Invest $1,200, earn $388.8 in 15 days
- Advanced Cloud Computing Plan – Invest $5,000, earn $1,155 in 10 days
- Super Cloud Computing Plan – Invest $11,000, earn $8,118 in 30 days
Each contract ensures a full return of the initial investment at the end of the term, allowing users to reinvest or withdraw their earnings with complete flexibility.

Why Choose ION Mining?

Founded in 2017 and headquartered in the UK, ION Mining is authorized and regulated by the UK Financial Services Authority (FCA), providing a secure and compliant platform for users worldwide. With over 100 global data centers across North America, Eastern Europe, the Middle East, and South America, ION Mining guarantees a stable and transparent mining environment.

Key benefits of ION Mining include:
- Instant Access & Zero-Cost Trial – New users receive a $15 bonus upon registration, allowing them to test the platform risk-free.
- State-of-the-Art Technology – Utilizing industry-leading mining hardware such as Bitmain and NVIDIA for maximum efficiency.
- Eco-Friendly Mining Operations – Powered by renewable energy sources, reducing environmental impact and operational costs.
- No Hidden Fees – Transparent pricing structure with no unexpected maintenance or withdrawal charges.
A Sustainable Future in Cryptocurrency Mining

As part of its commitment to sustainability, ION Mining is expanding its use of green energy solutions, ensuring an eco-conscious approach to cryptocurrency mining. By leveraging solar and wind power, ION Mining reduces carbon footprints while maintaining profitability for its users.

Join ION Mining and Start Earning Today!

ION Mining provides a secure, efficient, and lucrative solution for individuals looking to generate passive income in the cryptocurrency space. Whether you’re a beginner or an experienced investor, ION Mining’s flexible plans cater to all financial goals. Don’t miss the opportunity to be part of the next evolution in cloud mining.

For more information and to start mining today, visit: https://ionmining.com/

Contact:
Email: info@ionmining.com
Website: https://ionmining.com/

About ION Mining:
ION Mining is a global leader in cloud mining solutions, offering secure, efficient, and sustainable cryptocurrency mining services. Established in 2017, ION Mining is fully regulated and continues to set industry standards in innovation and transparency.

Disclaimer: This press release is provided by ION Mining. The statements, views, and opinions expressed in this content are solely those of the sponsor and do not necessarily reflect the views of this media platform. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered as financial, investment, or trading advice. Investing in cloud mining and related opportunities involves significant risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions.

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/1fec530c-720f-4cda-ad75-9ef83f4e7ebb

https://www.globenewswire.com/NewsRoom/AttachmentNg/fb1d4172-f7c7-47cb-a4e2-d008a395d950

https://www.globenewswire.com/NewsRoom/AttachmentNg/f981166c-5cbc-4ddd-bf3d-17ce8638dc31

The MIL Network –
February 25, 2025
MIL-OSI: Abacus Life Announces Private Exchange of Outstanding Public Warrants

Source: GlobeNewswire (MIL-OSI)

ORLANDO, Fla., Feb. 24, 2025 (GLOBE NEWSWIRE) — Abacus Life, Inc. (“Abacus” or the “Company”) (NASDAQ: ABL), a pioneering alternative asset manager specializing in leveraging longevity and actuarial technology to offer uncorrelated investment opportunities, today announced that it has entered into warrant exchange agreements (each, an “Exchange Agreement”) with certain holders (the “Holders”) of its outstanding publicly traded warrants (the “Public Warrants”) to purchase shares of the Company’s common stock, par value $0.0001 per share (“Common Stock”). Pursuant to their respective Exchange Agreements, the Holders agreed to surrender an aggregate of 4,930,745 Public Warrants in exchange for an aggregate of 1,134,071 shares of newly issued Common Stock, representing a ratio of 0.23 shares per warrant.¹

The Public Warrants to purchase shares of Common Stock from the Company were issued in connection with the Company’s initial public offering and entitle holders to purchase up to 17,250,000 shares of Common Stock, at an exercise price of $11.50 per share. Each redeemable whole Public Warrant entitles the holder thereof to purchase one share of common stock at a price of $11.50 per full share, subject to adjustment as described in the warrant agreement pursuant to which the Public Warrants were originally issued. The Public Warrants represent a freestanding financial instrument traded on The Nasdaq Stock Market LLC under the symbol “ABLLW” and are legally detachable and separately exercisable from the related underlying shares of Common Stock.

About Abacus

Abacus is a pioneering global alternative asset manager and market maker specializing in uncorrelated financial products. The Company leverages its longevity data and actuarial technology to purchase life insurance policies from consumers seeking liquidity. This creates a high-return asset class uncorrelated to market fluctuations for institutional investors.

With nearly $3 billion in assets under management, including pending acquisitions, Abacus is the only publicly traded global alternative asset manager focused on lifespan-based financial products.

Forward Looking Statements

All statements in this press release (and oral statements made regarding the subjects of this press release) other than historical facts are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties and factors that could cause actual results to differ materially from such statements, many of which are outside the control of Abacus. Forward-looking information includes but is not limited to statements regarding the proposed transaction, including the expected closing of the proposed transaction; Abacus’s financial and operational outlook; Abacus’s operational and financial strategies, including planned growth initiatives and the benefits thereof, Abacus’s ability to successfully effect those strategies, and the expected results therefrom. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “expect,” ‎‎”intend,” “anticipate,” “goals,” “prospects,” “will,” “would,” “will continue,” “will likely result,” and similar expressions (including the negative versions of such words or expressions).

While Abacus believes that the assumptions concerning future events are reasonable, it cautions that there are inherent difficulties in predicting certain important factors that could impact the future performance or results of its business. The factors that could cause results to differ materially from those indicated by such forward-looking statements include, but are not limited to: the ‎fact that Abacus’s loss reserves are bases on estimates and may be inadequate to cover ‎its actual losses; the failure to properly price Abacus’s insurance policies; the ‎geographic concentration of Abacus’s business; the cyclical nature of Abacus’s industry; the ‎impact of regulation on Abacus’s business; the effects of competition on Abacus’s business; the failure of ‎Abacus’s relationships with independent agencies; the failure to meet Abacus’s investment ‎objectives; the inability to raise capital on favorable terms or at all; the ‎effects of acts of terrorism; and the effectiveness of Abacus’s control environment, including the identification of control deficiencies.

These forward-looking statements are also affected by the risk factors, forward-looking statements and challenges and uncertainties set forth in documents filed by Abacus with ‎the SEC from time to time, including the Annual ‎Report on Form 10-K, as amended, and Quarterly Reports on Form 10-Q and subsequent ‎periodic reports. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Abacus cautions you not to place undue reliance on the ‎forward-looking statements contained in this press release. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Abacus assumes no obligation and, except as required by law, does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Abacus does not give any assurance that it will achieve its expectations.

Contacts:

Robert Phillips – SVP Investor Relations
rob@abacuslife.com
(321) 290-1198

David Jackson – IR/Capital Markets Associate
djackson@abacuslife.com
(321) 299-0716

Abacus Life Public Relations
press@abacuslife.com

^{________________________________
1} Bracketed figures to be confirmed.

The MIL Network –

February 25, 2025
MIL-OSI: reAlpha Acquires GTG Financial, Inc.

Source: GlobeNewswire (MIL-OSI)

DUBLIN, Ohio, Feb. 24, 2025 (GLOBE NEWSWIRE) — reAlpha Tech Corp. (“reAlpha”) (Nasdaq: AIRE), a real estate technology company developing and commercializing artificial intelligence (“AI”) technologies, today announced the acquisition of GTG Financial, Inc. (“GTG Financial”), a mortgage brokerage company founded by Glenn Groves, a U.S. Marine and industry leader. GTG Financial is licensed to operate in seven U.S. states, including California, which will expand reAlpha’s geographic footprint to a total of 28 U.S. states and strengthen its operational capacity.

The acquisition of GTG Financial marks another step in reAlpha’s strategy to further enhance its mortgage operations and provide a more seamless home financing experience within the reAlpha platform, its AI-powered real estate platform. By incorporating GTG Financial’s experience in the real estate industry and its added workforce of loan officers, reAlpha anticipates that it will be able to bolster its overall operational capacity, expand its loan processing capabilities and offer mortgage lending and refinancing services to homebuyers more efficiently.

“We are excited to welcome GTG Financial to the reAlpha group,” said Piyush Phadke, Chief Financial Officer of reAlpha. “This acquisition will strengthen our mortgage operations, allowing us to scale and more efficiently provide lending services through our AI-powered homebuying platform. By acquiring GTG Financial, we are continuing to advance our vision of a fully streamlined, technology-driven real estate experience.”

GTG Financial will retain its brand identity under the leadership of its founder, Glenn Groves, while leveraging reAlpha’s resources and generative AI platform, which is expected to enhance loan processing efficiency and support a more seamless home financing experience.

Glenn Groves, Chief Executive Officer of GTG Financial, added: “I believe that reAlpha’s AI-driven platform is redefining real estate by simplifying and eliminating traditional barriers in the homebuying process. We’re proud to be part of this transformation and committed to driving its long-term success. GTG Financial will be officially powered by Be My Neighbor, one of reAlpha’s subsidiaries, strengthening our mortgage services and operational efficiency.”

Christopher Griffith, Chief Executive Officer of Be My Neighbor, and a fellow U.S. Marine, echoed the sentiment: “Real success in M&A comes from aligned leadership. I believe that, as Marines, Glenn and I share the same values of discipline, integrity and execution, making this partnership a natural fit.”

For additional details concerning the terms of the acquisition of GTG Financial, please refer to reAlpha’s Current Report on Form 8-K, which will be filed with the U.S. Securities and Exchange Commission (the “SEC”).

About GTG Financial Inc.

GTG Financial, Inc. is a mortgage brokerage company founded by Glenn Groves, committed to helping individuals and families achieve their homeownership dreams, with a focus on transparency, customer service, and financial empowerment.

About reAlpha Tech Corp.

reAlpha Tech Corp. (Nasdaq: AIRE) is a real estate technology company developing an end-to-end commission-free homebuying platform. Utilizing the power of AI and an acquisition-led growth strategy, reAlpha aims to offer an affordable, streamlined experience for homebuyers. For more information, visit www.reAlpha.com.

About the reAlpha Platform

reAlpha’s AI-powered, commission-free homebuying platform enables buyers to navigate the homebuying process with ease. With the tagline “No Fees. Just Keys.™”, reAlpha is dedicated to eliminating traditional barriers and making homeownership more accessible and transparent. The platform’s generative AI assistant, “Claire,” supports homebuyers throughout the journey, from property search to closing, offering insights, market trends, and 24/7 assistance.

Forward-Looking Statements

The information in this press release includes “forward-looking statements”. Forward-looking statements include, among other things, statements about the GTG Financial acquisition; the anticipated benefits of the GTG Financial acquisition; reAlpha’s ability to anticipate the future needs of the short-term rental market; future trends in the real estate, technology and artificial intelligence industries, generally; and reAlpha’s future growth strategy and growth rate. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “could”, “might”, “plan”, “possible”, “project”, “strive”, “budget”, “forecast”, “expect”, “intend”, “will”, “estimate”, “anticipate”, “believe”, “predict”, “potential” or “continue”, or the negatives of these terms or variations of them or similar terminology. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: reAlpha’s limited operating history and that reAlpha has not yet fully developed its AI-based technologies; reAlpha’s ability to commercialize its developing AI-based technologies; whether reAlpha’s technology and products will be accepted and adopted by its customers and intended users; reAlpha’s ability to integrate the business of GTG Financial into its existing business and the anticipated demand for GTG Financial’s services; reAlpha’s ability to successfully enter new geographic markets; reAlpha’s ability to obtain the necessary regulatory and legal approvals to expand into additional U.S. states and maintain, or obtain, brokerage licenses in such states; reAlpha’s ability to generate additional sales or revenue from having access to, or obtaining, additional U.S. states brokerage licenses; reAlpha’s ability to enhance its, and its subsidiaries’, loan processing efficiency by leveraging its AI-powered platform and overall resources; reAlpha’s ability to expand its loan processing capabilities through the acquisition of GTG Financial; reAlpha’s ability to offer mortgage lending and refinancing services to homebuyers more efficiently through its platform as a result of the acquisition of GTG Financial; the inability to maintain and strengthen reAlpha’s brand and reputation; reAlpha’s ability to scale its operational capabilities to expand into additional geographic markets; the potential loss of key employees of its acquired companies; reAlpha’s inability to accurately forecast demand for short-term rentals and AI-based real estate focused products; the inability to execute business objectives and growth strategies successfully or sustain reAlpha’s growth; the inability of reAlpha’s customers to pay for reAlpha’s services; changes in applicable laws or regulations, and the impact of the regulatory environment and complexities with compliance related to such environment; and other risks and uncertainties indicated in reAlpha’s SEC filings. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. Although reAlpha believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. reAlpha’s future results, level of activity, performance or achievements may differ materially from those contemplated, expressed or implied by the forward-looking statements, and there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking statements. For more information about the factors that could cause such differences, please refer to reAlpha’s filings with the SEC. Readers are cautioned not to put undue reliance on forward-looking statements, and reAlpha does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Investor Relations Contact:
Adele Carey, VP of Investor Relations
investorrelations@realpha.com

Media Contact:
Fatema Bhabrawala, Director of Public Relations
fbhabrawala@allianceadvisors.com

The MIL Network –

February 25, 2025
MIL-OSI: Apollo to Acquire Bridge Investment Group

Source: GlobeNewswire (MIL-OSI)

Scaled Investment Platform Expands Apollo’s Origination Capabilities in Residential and Industrial Real Estate

Bridge Manages $50 Billion of High-Quality AUM in Complementary Sectors Aligned with Apollo’s Long-Term Growth Strategy

NEW YORK and SALT LAKE CITY, Feb. 24, 2025 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) and Bridge Investment Group Holdings Inc. (NYSE: BRDG) (“Bridge” or the “Company”) today announced they have entered into a definitive agreement for Apollo to acquire Bridge in an all-stock transaction with an equity value of approximately $1.5 billion.

Founded in 2009, Bridge is an established leader in residential and industrial real estate as well as other specialized real estate asset classes. Led by an experienced senior leadership team and over 300 dedicated investment professionals with significant real estate investment and operating expertise, Bridge’s forward-integrated model, nationwide operating platform and data-driven approach have fostered organic growth and consistently produced desirable outcomes across asset classes.

Bridge will provide Apollo with immediate scale to its real estate equity platform and enhance Apollo’s origination capabilities in both real estate equity and credit, which is expected to benefit Apollo’s growing suite of hybrid and real estate product offerings. Bridge manages approximately $50 billion of high-quality AUM in real estate products targeting both institutional and wealth clients and is expected to be highly synergistic with Apollo’s existing real estate equity strategies and leading real estate credit platform. The transaction is expected to be immediately accretive to Apollo’s fee-related earnings upon closing.

Apollo Partner and Co-Head of Equity David Sambur said, “We are pleased to announce this transaction with Bridge, which is highly aligned with Apollo’s strategic focus on expanding our origination base in areas of our business that are growing but not yet at scale. Led by a respected real estate team including Executive Chairman Bob Morse and CEO Jonathan Slager, Bridge brings a seasoned team with deep expertise and a strong track record in their sectors. Their business will complement and further augment our existing real estate capabilities, and we believe we can help scale Bridge’s products by leveraging the breadth of our integrated platform. We look forward to working with Bob and the talented Bridge team as we seek to achieve the strategic objectives we laid out at our recent Investor Day.”

Bridge Executive Chairman Bob Morse said, “We are proud to be joining Apollo and its industry-leading team, who share our commitment to performance and excellence. This transaction will allow the Bridge and Apollo teams to grow on the strong foundation that Bridge has built since 2009 as we work to pursue meaningful value and impact for our investors and communities. With Apollo’s global integrated platform, resources, innovation and established expertise, we are confident that Bridge will be positioned for the next phase of growth amid growing demand across the alternative investments space.”

Transaction Details
Under the terms of the transaction, Bridge stockholders and Bridge OpCo unitholders will receive, at closing, 0.07081 shares of Apollo stock for each share of Bridge Class A common stock and each Bridge OpCo Class A common unit, respectively, valued by the parties at $11.50 per each share of Bridge Class A common stock and Bridge OpCo Class A common unit, respectively.

Upon the closing of the transaction, Bridge will operate as a standalone platform within Apollo’s asset management business, retaining its existing brand, management team and dedicated capital formation team. Bob Morse will become an Apollo Partner and lead Apollo’s real estate equity franchise.

A special committee of independent directors for Bridge (the “Special Committee”), advised by its own independent legal and financial advisors, reviewed, negotiated and unanimously recommended approval of the merger agreement by the Bridge Board of Directors, determining that it was in the best interests of Bridge and its stockholders not affiliated with Bridge management and directors. Acting upon the recommendation of the Special Committee, the Bridge Board of Directors approved the merger agreement. The transaction is expected to close in the third quarter of 2025, subject to customary closing conditions for transactions of this nature, including approval by a majority of the Class A common stock and Class B common stock of Bridge, voting together and the receipt of regulatory approvals. Certain members of Bridge management and their affiliates, collectively owning approximately 51.4% of the outstanding voting power of the Class A common stock and Class B common stock of Bridge, have entered into voting agreements in connection with the transaction and have agreed to vote in favor of the transaction in accordance with the terms therein. Subject to and upon completion of the transaction, shares of Bridge common stock will no longer be listed on the New York Stock Exchange and Bridge will become a privately held company.

Further information regarding terms and conditions contained in the definitive merger agreement will be made available in Bridge’s Current Report on Form 8-K, which will be filed in connection with this transaction.

Bridge Fourth Quarter and Full-Year 2024 Earnings
Bridge will no longer be holding its fourth quarter and full-year 2024 earnings conference call and webcast scheduled for February 25, 2025, due to the pending transaction.

Advisors
BofA Securities, Citi, Goldman, Sachs & Co. LLC, Morgan Stanley & Co. LLC and Newmark Group are acting as financial advisors, Paul, Weiss, Rifkind, Wharton & Garrison LLP is acting as legal counsel and Sidley Austin LLP is acting as insurance regulatory counsel to Apollo. J.P. Morgan Securities LLC is serving as financial advisor to Bridge and Latham & Watkins LLP is acting as legal counsel. Lazard is serving as financial advisor to the special committee of the Bridge Board of Directors and Cravath, Swaine & Moore LLP is acting as legal counsel.

Statement Regarding Forward-Looking Information

This press release contains statements regarding Apollo, Bridge, the proposed transactions and other matters that are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include, but are not limited to, discussions related to the proposed transaction between Apollo and the Company, including statements regarding the benefits of the proposed transaction and the anticipated timing and likelihood of completion of the proposed transaction, and information regarding the businesses of Apollo and the Company, including Apollo’s and the Company’s objectives, plans and strategies for future operations, statements that contain projections of results of operations or of financial condition and all other statements other than statements of historical fact that address activities, events or developments that Apollo and the Company intends, expects, projects, believes or anticipates will or may occur in the future. Such statements are based on management’s beliefs and assumptions made based on information currently available to management. All statements in this communication, other than statements of historical fact, are forward-looking statements that may be identified by the use of the words “outlook,” “indicator,” “may,” “will,” “should,” “expects,” “plans,” “seek,” “anticipates,” “plan,” “forecasts,” “could,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other similar expressions, but not all forward- looking statements include such words. These forward-looking statements are subject to certain risks, uncertainties and assumptions, many of which are beyond the control of Apollo and the Company, that could cause actual results and performance to differ materially from those expressed in such forward-looking statements. Factors and risks that may impact future results and performance include, but are not limited to, those factors and risks described under the section entitled “Risk Factors” in Apollo’s and the Company’s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q and such reports that are subsequently filed with the Securities and Exchange Commission (the “SEC”).

The forward-looking statements are subject to certain risks, uncertainties and assumptions, which include, but are not limited to, and in each case as a possible result of the proposed transaction on each of Apollo and the Company: the ultimate outcome of the proposed transaction between Apollo and the Company, including the possibility that the Company’s stockholders will not adopt the merger agreement in respect of the proposed transaction; the effect of the announcement of the proposed transaction; the ability to operate Apollo’s and the Company’s respective businesses, including business disruptions; difficulties in retaining and hiring key personnel and employees; the ability to maintain favorable business relationships with customers and other business partners; the terms and timing of the proposed transaction; the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement and the proposed transaction; the anticipated or actual tax treatment of the proposed transaction; the ability to satisfy closing conditions to the completion of the proposed transaction (including the adoption of the merger agreement in respect of the proposed transaction by the Company’s stockholders); other risks related to the completion of the proposed transaction and actions related thereto; the ability of Apollo and the Company to integrate the businesses successfully and to achieve anticipated synergies and value creation from the proposed transaction; global market, political and economic conditions, including in the markets in which Apollo and the Company operate; the ability to secure government regulatory approvals on the terms expected, at all or in a timely manner; the global macro-economic environment, including headwinds caused by inflation, rising interest rates, unfavorable currency exchange rates, and potential recessionary or depressionary conditions; cyber-attacks, information security and data privacy; the impact of public health crises, such as pandemics and epidemics and any related company or government policies and actions to protect the health and safety of individuals or government policies or actions to maintain the functioning of national or global economies and markets; litigation and regulatory proceedings, including any proceedings that may be instituted against Apollo or the Company related to the proposed transaction; and disruptions of Apollo’s or the Company’s information technology systems.

These risks, as well as other risks related to the proposed transaction, will be included in the Registration Statement (as defined below) and Joint Proxy Statement/Prospectus (as defined below) that will be filed with the SEC in connection with the proposed transaction. While the list of factors presented here is, and the list of factors to be presented in the Registration Statement and Joint Proxy Statement/Prospectus are considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Other unknown or unpredictable factors also could have a material adverse effect on Apollo’s and the Company’s business, financial condition, results of operations and prospects. Accordingly, readers should not place undue reliance on these forward-looking statements. These forward-looking statements are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. Except as required by applicable law or regulation, neither Apollo nor the Company undertakes (and each of Apollo and the Company expressly disclaim) any obligation and do not intend to publicly update or review any of these forward-looking statements, whether as a result of new information, future events or otherwise.

No Offer or Solicitation

This press release is not intended to and does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities or the solicitation of any vote in any jurisdiction pursuant to the proposed transactions or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act. Subject to certain exceptions to be approved by the relevant regulators or certain facts to be ascertained, the public offer will not be made directly or indirectly, in or into any jurisdiction where to do so would constitute a violation of the laws of such jurisdiction, or by use of the mails or by any means or instrumentality (including without limitation, facsimile transmission, telephone and the internet) of interstate or foreign commerce, or any facility of a national securities exchange, of any such jurisdiction.

Additional Information Regarding the Transaction and Where to Find It

This press release is being made in respect of the proposed transaction between Apollo and the Company. In connection with the proposed transaction, Apollo intends to file with the SEC a registration statement on Form S-4, which will constitute a prospectus of Apollo for the issuance of Apollo common stock (the “Registration Statement”) and which will also include a proxy statement of the Company for the Company stockholder meeting (together with any amendments or supplements thereto, and together with the Registration Statement, the “Joint Proxy Statement/Prospectus”). Each of Apollo and the Company may also file other relevant documents with the SEC regarding the proposed transaction. This document is not a substitute for the Registration Statement or Joint Proxy Statement/Prospectus or any other document that Apollo or the Company may file with the SEC. The definitive Joint Proxy Statement/Prospectus (if and when available) will be mailed to stockholders of the Company.

INVESTORS ARE URGED TO READ IN THEIR ENTIRETY THE REGISTRATION STATEMENT, THE JOINT PROXY STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS THAT MAY BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Investors will be able to obtain free copies of the Registration Statement and Joint Proxy Statement/Prospectus (if and when available) and other documents containing important information about Apollo, the Company and the proposed transaction, once such documents are filed with the SEC through the website maintained by the SEC at http://www.sec.gov. Copies of the documents filed with, or furnished to, the SEC by Apollo will be available free of charge by accessing the Investor Relations section of Apollo’s website at https://ir.apollo.com. Copies of the documents filed with, or furnished to, the SEC by the Company will be available free of charge by accessing the Investor Relations section of the Company’s website at https://www.bridgeig.com. The information included on, or accessible through, Apollo’s or the Company’s website is not incorporated by reference into this communication.

Participants in the Solicitation

Apollo, the Company, and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the Company’s stockholders in respect of the proposed transaction. Information about the directors and executive officers of Apollo, including a description of their direct or indirect interests, by security holdings or otherwise, is contained in its Proxy Statement on Schedule 14A, dated April 26, 2024 (the “Apollo Annual Meeting Proxy Statement”), which is filed with the SEC. Any changes in the holdings of Apollo’s securities by Apollo’s directors or executive officers from the amounts described in the Apollo Annual Meeting Proxy Statement have been or will be reflected in Initial Statements of Beneficial Ownership of Securities on Form 3 (“Form 3”), Statements of Changes in Beneficial Ownership on Form 4 (“Form 4”) or Annual Statements of Changes in Beneficial Ownership of Securities on Form 5 (“Form 5”) subsequently filed with the SEC and available at the SEC’s website at www.sec.gov. Information about the directors and executive officers of the Company, including a description of their direct or indirect interests, by security holdings or otherwise, is contained in its Proxy Statement on Schedule 14A, dated March 21, 2024 (the “Company Annual Meeting Proxy Statement”), which is filed with the SEC. Any changes in the holdings of the Company’s securities by the Company’s directors or executive officers from the amounts described in the Company Annual Meeting Proxy Statement have been or will be reflected on Forms 3, Forms 4 or Forms 5, subsequently filed with the SEC and available at the SEC’s website at www.sec.gov. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the Registration Statement and the Joint Proxy Statement/Prospectus and other relevant materials to be filed with the SEC regarding the proposed transaction when such materials become available. Investors should read the Registration Statement and the Joint Proxy Statement/Prospectus carefully when available before making any voting or investment decisions.

About Apollo
Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of December 31, 2024, Apollo had approximately $751 billion of assets under management. To learn more, please visit www.apollo.com.

About Bridge Investment Group
Bridge is a leading alternative investment manager, diversified across specialized asset classes, with approximately $50 billion of assets under management as of December 31, 2024. Bridge combines its nationwide operating platform with dedicated teams of investment professionals focused on select verticals across real estate, credit, renewable energy and secondaries strategies.

Contacts

For Apollo:

Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
212-822-0540
ir@apollo.com

Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
212-822-0491
communications@apollo.com

For Bridge:

Shareholder Relations:
Bonni Rosen Salisbury
Bridge Investment Group Holdings Inc.
shareholderrelations@bridgeig.com

Media:
Charlotte Morse
Bridge Investment Group Holdings Inc.
(877) 866-4540
charlotte.morse@bridgeig.com

H/Advisors Abernathy
Eric Bonach / Dan Scorpio
(917) 710-7973 / (646) 899-8118
eric.bonach@h-advisors.global / dan.scorpio@h-advisors.global

The MIL Network –

February 25, 2025
MIL-OSI: Red Cat Holdings Proud to Announce Teal’s Black Widow™ and FlightWave’s Edge 130 Selected as Winners of the Blue UAS Refresh

Source: GlobeNewswire (MIL-OSI)

SAN JUAN, Puerto Rico, Feb. 24, 2025 (GLOBE NEWSWIRE) — Red Cat Holdings, Inc. (Nasdaq: RCAT) (“Red Cat” or the “Company”), a drone technology company integrating robotic hardware and software for military, government, and commercial operations, today announced that its Black Widow drone and FlightWave Edge 130 were included on the list of 23 platforms and 14 unique components and capabilities selected as winners of the Blue UAS Refresh. The platforms will undergo National Defense Authorization Act (NDAA) verification and cyber security review with the ultimate goal of joining the Blue UAS List.

Over the coming months, the Blue UAS List and Blue UAS Framework will expand with new additions. The inclusion of the Black Widow and Edge 130 as winners of the Refresh further validates Red Cat’s commitment to delivering NDAA-compliant unmanned systems for defense and government applications.

“We applaud the DIU’s ongoing diligence and focus on U.S. drone manufacturing,” said Jeff Thompson, Red Cat CEO. “The inclusion of both Teal’s Black Widow and FlightWave’s Edge 130 in the NDAA verification and cyber security review underscores our dedication to providing safe and secure solutions for the U.S. military and the warfighters that use them. As national security concerns around drone technology continue to grow, our systems ensure that the military and government agencies have access to reliable, mission-ready platforms.”

Teal’s Black Widow is Red Cat’s small unmanned aerial system (sUAS) designed for short-range reconnaissance (SRR) missions. The system, which was down selected for the U.S. Army’s SRR Program of Record contract, provides military operators with improved situational awareness, autonomous capabilities, and rugged performance in contested environments. The company recently announced a partnership with Palantir to integrate Visual Navigation software (VNav) into Red Cat’s Black Widow drones.

FlightWave’s Edge 130 is a high-endurance vertical takeoff and landing (VTOL) drone engineered for medium-range intelligence, surveillance, and reconnaissance (ISR) operations. Its modular payload system and extended flight capabilities make it a versatile asset for defense and government missions.

Inclusion in the review continues Red Cat’s legacy of having Blue listed solutions, including Teal 2 and Golden Eagle. Pending inclusion in the updated Blue UAS approved list, Red Cat’s drones can continue to be easily procured by the U.S. Department of Defense, federal agencies, and allied partners, eliminating lengthy waiver processes and ensuring rapid deployment to the field.

For more information on Red Cat’s approved Blue UAS products, visit www.redcat.red or the official DIU Blue UAS page at www.diu.mil/blue-uas.

About Red Cat Holdings, Inc.

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

Forward Looking Statements

This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Red Cat Holdings, Inc.’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” in the Form 10-K filed with the Securities and Exchange Commission on July 27, 2023. Forward-looking statements contained in this announcement are made as of this date, and Red Cat Holdings, Inc. undertakes no duty to update such information except as required under applicable law.

Contact:

INVESTORS:
E-mail: Investors@redcat.red

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

The MIL Network –

February 25, 2025
MIL-OSI: CareCloud to Announce Fourth Quarter and Full Year 2024 Results on March 13, 2025

Source: GlobeNewswire (MIL-OSI)

SOMERSET, N.J., Feb. 24, 2025 (GLOBE NEWSWIRE) — CareCloud, Inc. (Nasdaq: CCLD, CCLDO, CCLDP), a leader in healthcare technology and generative AI solutions for medical practices and health systems nationwide, will release its financial results for the fourth quarter and full year ended December 31, 2024 before the market opens on Thursday, March 13, 2025. The Company will follow with a conference call for investors at 8:30 a.m. Eastern Time.

The live webcast of the conference call and related presentation slides can be accessed at ir.carecloud.com/events. An audio-only option is available by dialing 201-389-0920 and referencing “CareCloud Fourth Quarter 2024 Results Conference Call.” Investors who opt for audio-only will need to download the related slides at ir.carecloud.com/events.

A replay of the conference call and related presentation slides will be available approximately three hours after conclusion of the call at the same link. An audio-only option can also be accessed by dialing 412-317-6671 and providing the access code 13751992.

About CareCloud

CareCloud (Nasdaq: CCLD, CCLDP, CCLDO) brings disciplined innovation to the business of healthcare. Our suite of AI and technology-enabled solutions helps clients increase financial and operational performance, streamline clinical workflows and improve the patient experience. More than 40,000 providers count on CareCloud to help them improve patient care, while reducing administrative burdens and operating costs. Learn more about our products and services, including revenue cycle management (RCM), practice management (PM), electronic health records (EHR), business intelligence, patient experience management (PXM) and digital health, at www.carecloud.com.

Follow CareCloud on LinkedIn, X and Facebook.

For additional information, please visit our website at www.carecloud.com. To listen to video presentations by CareCloud’s management team, read recent press releases and view the latest investor presentation, please visit ir.carecloud.com.

SOURCE CareCloud

Company Contact:
Norman Roth
Interim Chief Financial Officer and Corporate Controller
CareCloud, Inc.
nroth@carecloud.com

Investor Contact:
Stephen Snyder
Co-Chief Executive Officer
CareCloud, Inc.
ir@carecloud.com

The MIL Network –

February 25, 2025
MIL-OSI: Orca Energy Group Inc. Announces Prepayment of International Finance Corporation Loan, Settlement of Supplementary Gas Sales Agreement and Judgment of the Tanzanian High Court

Source: GlobeNewswire (MIL-OSI)

TORTOLA, British Virgin Islands, Feb. 24, 2025 (GLOBE NEWSWIRE) — Orca Energy Group Inc. (“Orca” or the “Company” and includes its subsidiaries and affiliates) (TSX-V: ORC.A, ORC.B) announces that it has permanently prepaid the US$60 million investment (the “Loan“) made by International Finance Corporation (“IFC“) in the Company’s operating subsidiary, PanAfrican Energy Tanzania Limited (“PAET“), pursuant to a loan agreement dated October 29, 2015 among IFC, PAET and the Company (the “Loan Agreement“). To effect the foregoing prepayment, the Company paid to IFC US$30.6 million, representing the aggregate outstanding principal of the Loan together with all accrued interest thereon and all other amounts owing in connection with the Loan as of February 21, 2025.

As of the date hereof, the annual variable participating interest granted by PAET to IFC under the terms of the Loan Agreement remains outstanding.

In addition, Orca announces PAET has reached an agreement with Tanzania Petroleum Development Corporation (“TPDC“) and the Tanzania Portland Cement Company Limited (“TPCC“) in respect to the SGSA (defined below). In 2008, PAET, TPDC and TPCC signed a Gas Sale Agreement (“2008 GSA“) for the supply of Additional Gas (defined below) to TPCC’s Wazo Hill plant (“Wazo Hill“). At the same time, TPDC supplied Protected Gas (defined below) to Wazo Hill. In anticipation of the cessation of Protected Gas on July 31, 2024, PAET and TPCC negotiated a Supplementary Gas Sales Agreement (“SGSA“) to supply to Wazo Hill increased volumes of gas to replace Protected Gas. The SGSA is arranged to operate alongside the original 2008 GSA.

The price of natural gas sold to TPCC is based on the contracted prices as set out in the Amendment Agreement No 2 to the 2008 GSA agreed to in October 2017, plus an estimation of the Songas transportation tariff as determined by the energy regulator, Energy and Water Utilities Regulatory Authority. The gas price under the SGSA is lower than that of the 2008 GSA, affording TPCC a commercially viable blended gas price across the two contracts. Initially, TPDC opposed the SGSA, but an agreement was reached with TPDC in January 2025 and the SGSA was executed, effective August 1, 2024.

“Additional Gas” and “Protected Gas” as used in the 2008 GSA and SGSA are defined in the Songo Songo Production Sharing Agreement between TPDC, the Government of Tanzania and PAET and the Gas Agreement between the Government of Tanzania, TPDC, Songas Limited (“Songas“) and PAET.

In addition, Orca announces it has received a judgment (the “Judgment“) from the Tanzanian High Court (Commercial Division) (the “Court“) for a claim brought by a contractor against PAET. The claim was brought by the contractor for losses arising from PAET’s termination of a contract relating to the Company’s 3D seismic acquisition program. The contract was signed in 2022 and works were due to be completed by the end of 2022. However, work only commenced in 2023 and was never completed. Pursuant to the Judgment, the Court ordered specific and general damages in the aggregate of US$23,100,451, plus legal costs and interest at a rate of 7% per annum be paid by PAET to the contractor. PAET respectfully disagrees with the Judgment and is currently preparing to launch an appeal. It is likely PAET will be required to post-security for the full amount of the judgment until the appeal is resolved.

Jay Lyons, Chief Executive Officer, commented:

“We are pleased to have successfully prepaid our US$60 million loan with the IFC. We are grateful to the IFC for their financial support with developing the Songo Songo Field for the benefit of the nation of Tanzania. While we acknowledge the Judgment awarded by the Commercial Court regarding the claim by the contractor, we intend to seek a review of the decision and appeal the Judgment, as the Board remain of the view that the Company’s actions with regard to termination of the contract for the 3D seismic program were legally fair and just.

Taking into account these recent events, Orca continues to possess a robust cash position and is performing in line with previous guidance operationally.”

Orca Energy Group Inc.

Orca Energy Group Inc. is an international public company engaged in natural gas development and supply in Tanzania through PAET. Orca trades on the TSX Venture Exchange under the trading symbols ORC.B and ORC.A.

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.

Forward-Looking Information

Certain information regarding Orca set forth in this news release, including but not limited to Orca’s ability to continue regular distributions to shareholders constitutes “forward-looking information” within the meaning of applicable Canadian securities laws. The words “may”, “will”, “would”, “should”, “could”, “expects”, “plans”, “intends”, “trends”, “indications”, “anticipates”, “believes”, “estimates”, “predicts”, “likely” or “potential” or the negative or other variations of these words or other comparable words or phrases, are intended to identify forward-looking information. More particularly, this news release contains, without limitation, forward-looking information pertaining to the following: timing as to when PAET will submit it appeal; that PAET will be required to post-security in respect of the appeal and the timing of such security; the assessment by the Company of the merits of the seeking the appeal; the Company’s liabilities pursuant to the appeal; and that the Company will continues to be in a robust cash position and will continue to perform operationally in line with previous guidance. Forward-looking information, by its very nature, involves inherent risks and uncertainties and is based on several assumptions, both general and specific. Orca cautions that its assumptions may not materialize and that current economic conditions render such assumptions, although believed reasonable at the time they were made, subject to greater uncertainty. Such forward-looking information is not a guarantee of future performance and involves known and unknown risks, uncertainties and other factors which may cause the actual results or performance of Orca to be materially different from the outlook or any future results or performance implied by such information.

The forward-looking information contained in this news release is provided as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless so required by applicable Canadian securities laws.

The MIL Network –

February 25, 2025

MIL-OSI: JPMorgan Announces Cash Distributions for the JPMorgan ETFs

Source: GlobeNewswire (MIL-OSI)

TORONTO, Feb. 24, 2025 (GLOBE NEWSWIRE) — J. P. Morgan Asset Management (JPMAM)* today announced the final February 2025 cash distributions for the below listed JPMorgan ETFs. The JPMorgan ETFs trade on the Toronto Stock Exchange (TSX). Unitholders of record on March 3, 2025 will receive cash distributions payable on March 7, 2025. Details of the “per unit” distributions are as follows:

JPMorgan ETF name	Ticker symbol	Distribution per unit ($)	Payment frequency
JPMorgan US Equity Premium Income Active ETF	JEPI	0.10777	Monthly
JPMorgan Nasdaq Equity Premium Income Active ETF	JEPQ	0.15646	Monthly

To learn more about the JPMorgan ETFs, please visit www.jpmorgan.com/ca/advisors

For more information, please e-mail: jpmam.canada@jpmorgan.com

About J.P. Morgan Asset Management

J.P. Morgan Asset Management, with assets under management of US$3.5 Trillion¹ (as of September 30, 2024), is a global leader in investment management. J.P. Morgan Asset Management’s clients include institutions, retail investors and high net worth individuals in every major market throughout the world. J.P. Morgan Asset Management offers global investment management in equities, fixed income, real estate, hedge funds, private equity and liquidity. For more information: www.jpmorganassetmanagement.com.

* Legal entity in Canada: JPMorgan Asset Management (Canada) Inc.

¹ Source: J.P. Morgan Asset Management, as of September 30, 2024.

Commissions, trailing commissions, management fees and expenses all may be associated with ETF investments. Please read the prospectus before investing. ETFs are not guaranteed, their values change frequently and past performance may not be repeated.

Past returns are not necessarily indicative of future performance. You should not rely on or view any past performance as a guarantee of future investment performance.

Nasdaq^®, Nasdaq-100 Index^®, Nasdaq 100^® and NDX^® are registered trademarks of Nasdaq, Inc. (which with its affiliates is referred to as the “Corporations”) and are licensed for use by J.P. Morgan Asset Management (Canada) Inc. and J.P. Morgan Investment Management Inc. JPMorgan Nasdaq Equity Premium Income Active ETF has not been passed on by the Corporations as to its legality or suitability. This ETF is not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THIS ETF.

This communication is issued in Canada, by JPMorgan Asset Management (Canada) Inc., which is a registered Portfolio Manager and Exempt Market Dealer in all Canadian provinces and territories except the Yukon and is also registered as an Investment Fund Manager in British Columbia, Ontario, Quebec and Newfoundland and Labrador.

J.P. Morgan Asset Management is the brand for the asset management business of JPMorgan Chase & Co. and its affiliates worldwide.

The MIL Network –

February 25, 2025

MIL-OSI: Allegro MicroSystems Appoints Mike Doogue as President and Chief Executive Officer

Source: GlobeNewswire (MIL-OSI)

MANCHESTER, N.H., Feb. 24, 2025 (GLOBE NEWSWIRE) — Allegro MicroSystems, Inc. (“Allegro”) (Nasdaq: ALGM) a global leader in power and sensing semiconductor solutions for motion control and energy-efficient systems, today announced the appointment of Mike Doogue as President and Chief Executive Officer and as a member of the Board.

Mr. Doogue’s ascension to CEO comes after 27 years of rising through the leadership ranks at Allegro, during which time he enabled many of Allegro’s disruptive technologies, originally as an engineer and later as a business leader. Immediately prior to this promotion, Mr. Doogue served as Allegro’s Executive Vice President and its first Chief Technology Officer (CTO), leading technology development and worldwide operations, which includes manufacturing, procurement, and quality. Mr. Doogue also previously served as the Company’s Senior Vice President of Technology and Products, which included direct oversight of each of the Company’s business units. As a testament to his roots as an engineer and technology innovator, Mr. Doogue personally holds 75 semiconductor-related U.S. patents.

“Mike has been instrumental in shaping our strategy, developing our technology roadmap and creating new, innovative products that drive customer value, and we are confident that he is the right person to drive Allegro to the next level,” said Joseph Martin, Lead Independent Director of the Board of Directors. “The leadership transition we are announcing today represents the culmination of a long-term and thoughtful succession planning process led by our Board. Allegro is extending its technology leadership position and is poised to capitalize on the catalysts for growth across the auto and industrial markets. Mike’s deep knowledge of our business, leadership experience, and vision for the future will help drive Allegro’s success.”

Mr. Doogue succeeds Vineet Nargolwala, who is stepping down as President and Chief Executive Officer and as a member of the Board. Mr. Doogue commented, “I am grateful for the opportunity to lead this incredible Company. Throughout my 27 years at Allegro, I have gained a deep appreciation of the quality of talent across the organization and the Company’s unwavering commitment to “innovation with purpose.” I have spent my career shaping our unique value proposition and competitive advantages, creating significant opportunities moving forward. I am very excited to work closely with Allegro’s talented team to continue driving our technology leadership, advancing our innovation efforts, strengthening our relationship with key customers and delivering strong financial performance. I’d also like to personally thank Vineet as a colleague and for his accomplishments during his tenure with the Company.”

Mr. Nargolwala said, “It has been a privilege to serve as Allegro’s CEO for nearly three years, and I am thankful to our dedicated teams around the globe for their support, collaboration and terrific contributions. I have worked closely with Mike, and I am confident that under his leadership, Allegro is well-positioned for the future.”

About Allegro MicroSystems

Allegro MicroSystems, Inc. is leveraging more than three decades of expertise in magnetic sensing and power ICs to propel automotive, clean energy and industrial automation forward with solutions that enhance efficiency, performance and sustainability. Allegro’s commitment to quality drives transformation across industries, reinforcing our status as a pioneer in “automotive grade” technology and a partner in our customers’ success. For additional information, visit www.allegromicro.com.

Contact

Jalene Hoover
VP of Investor Relations & Corporate Communications
jhoover@allegromicro.com

The MIL Network –

February 25, 2025
MIL-OSI: Bitget Announces Pre-Market Trading for Memhash (MEMHASH)

Source: GlobeNewswire (MIL-OSI)

VICTORIA, Seychelles, Feb. 24, 2025 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange and Web3 company, has introduced Memhash (MEMHASH) to its pre-market trading platform, allowing users to engage in MEMHASH transactions ahead of its official spot market debut.

Bitget’s pre-market trading platform serves as an over-the-counter marketplace, enabling buyers and sellers to negotiate and execute trades for new tokens before their official listing. This setup allows participants to secure potential liquidity and agree on delivery terms in advance. Sellers are not required to possess the new tokens at the time of the transaction but must ensure delivery by the agreed-upon date to avoid penalties.

Memhash is a Telegram mini-game offering rewards through a mining process, allowing users to immediately start earning with a single button in the mini-app on their devices. It combines the simplicity of gaming with the technical sophistication of blockchain, introducing the same Hashcash mechanism as Bitcoin to provide rewards. Thousands of miners’ devices run simultaneously, providing massive computing power during the game. 600,000+ active users contributed computing power with at least one device during the first season, which makes Memhash one of the largest DePIN projects in the world by active user count.

Bitget has become the go-to platform for crypto enthusiasts, offering an extensive range of over 800 coins and 900 trading pairs. Since its introduction in April 2024, Bitget’s pre-market platform has facilitated early access to over 150 high-profile projects such as EigenLayer (EIGEN), Zerolend (ZERO), Notcoin (NOT), and ZkSync (ZKSYNC), providing a unique opportunity for investors to engage with emerging tokens at an early stage. These initiatives have consistently aligned with Bitget’s focus on supporting the growth of blockchain ecosystems, enabling users to engage with innovative projects across Ethereum, Solana, Base, TON, and other leading platforms.

For more information and to participate in the pre-market trading of Memhash (MEMHASH) users can visit here.

About Bitget

Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 100 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, token swap, NFT Marketplace, DApp browser, and more.

Bitget is at the forefront of driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World’s Top Football League, LALIGA, in EASTERN, SEA and LATAM market, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency.

For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet

For media inquiries, please contact: media@bitget.com

Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our Terms of Use.

Contact

Simran Alphonso

media@bitget.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f7eb634c-142a-440d-979f-8f479297b321

The MIL Network –

February 25, 2025
MIL-OSI: Bitget Lists Zoo Adding it to Spot Trading

Source: GlobeNewswire (MIL-OSI)

VICTORIA, Seychelles, Feb. 24, 2025 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange and Web3 company, has announced the listing of Zoo ($ZOO). Zoo is a popular game on the messaging platform Telegram. Spot trading will begin on 25 February, 12:00 (UTC) with withdrawals available on 26 February 2025, 13:00 (UTC).

Launched in December 2024, Zoo is a play-to-earn game on the TON network in which users build and manage virtual zoos to earn ZOO tokens. Players earn in-game Zoo tokens by creating enclosures that attract visitors. Millions of players have built digital zoos within the Telegram mini app from its launch up to the end of the mining phase at the end of Jan 2025.

Previously, it was shared that one in-game Zoo token equaled one Zoo token. However, developers have since clarified that the final token amount will have the last three digits removed. For example, 1,000,000,000 in-game tokens will convert to 1,000,000 ZOO tokens. The airdrop claim period ends on February 25, 09:00 (UTC). Players will subsequently need to claim their tokens on-chain, which includes a fee of 0.1 TON.

Bitget continues to expand its offerings, positioning itself as a leading platform for cryptocurrency trading. The exchange has established a reputation for innovative solutions that empower users to explore crypto within a secure CeDeFi ecosystem. With an extensive selection of over 800 cryptocurrency pairs and a commitment to broaden its offerings to more than 900 trading pairs, Bitget connects users to various ecosystems, including Bitcoin, Ethereum, Solana, Base, and TON. The addition of $ZOO into Bitget’s portfolio marks a significant step toward expanding its ecosystem by embracing niche communities and fostering innovation in decentralized economies, further solidifying its role as a gateway to diverse Web3 projects and cultural movements.

For more details on $ZOO, users can visit here.

About Bitget

Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 100 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, token swap, NFT Marketplace, DApp browser, and more.

Bitget is at the forefront of driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World’s Top Football League, LALIGA, in EASTERN, SEA and LATAM markets, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency.

For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet

For media inquiries, please contact: media@bitget.com

Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our Terms of Use.

Contact

Simran Alphonso

media@bitget.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/23f4384c-21e6-4fd7-acc9-f8ce46ea0a2c

The MIL Network –

February 25, 2025
MIL-OSI: Hyperscale Data Engages Northland Capital Markets to Explore Strategic Options for Michigan Data Center

Source: GlobeNewswire (MIL-OSI)

LAS VEGAS, Feb. 24, 2025 (GLOBE NEWSWIRE) — Hyperscale Data, Inc. (NYSE American: GPUS), a diversified holding company (“Hyperscale Data” or the “Company”), today announced that it has engaged Northland Capital Markets (“Northland”) to assist in evaluating strategic alternatives for its Michigan Data Center (“Michigan Facility”). This engagement underscores the Company’s commitment to unlocking value for stockholders as it explores various pathways, including raising debt or equity for expansion, or forming joint ventures.

Northland brings extensive expertise in the data center sector, having successfully advised on over $6 billion of high-performance computing data center related transactions within the last 12 months, with particular emphasis on assisting bitcoin mining focused clients in their transition to high-performance computing related data centers. Stockholders are encouraged to review Northland’s corporate website which displays their recently completed transactions.

William B. Horne, CEO of Hyperscale Data, commented, “We are excited to partner with Northland, a highly respected investment bank with deep industry expertise. We are confident in its ability to help us evaluate and execute the best path forward for our Michigan Facility, which sits on 34.5 acres and currently has approximately 30 megawatts of available power and has reached an agreement in principle with the local utility enabling Alliance Cloud Services, LLC, an indirectly wholly owned subsidiary of the Company, to increase its power capacity to approximately 300 megawatts. As we continue our transition into a pure-play data center business, we are considering all strategic options to maximize stockholder value—whether through development, monetization, or strategic partnerships. We look forward to exploring multiple opportunities that align with our long-term growth strategy.”

Hyperscale Data will provide further updates as the process advances.

The completion of the power upgrade is subject to a number of risks and uncertainties, one or more which could result in the project being terminated, including, but not limited to: failure to agree upon terms and execute a definitive agreement; the inability of the Company to raise sufficient funds to pay for the power upgrades; failure to obtain regulatory consents and approvals; the inability to obtain sufficient easements, rights-of-way and land rights necessary to the work to be performed, and other presently unforeseen events or conditions.

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

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

About Hyperscale Data, Inc.

Hyperscale Data is transitioning from a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact to becoming solely an owner and operator of data centers to support high-performance computing services. Through its wholly and majority-owned subsidiaries and strategic investments, Hyperscale Data owns and operates a data center at which it mines digital assets and offers colocation and hosting services for the emerging artificial intelligence ecosystems and other industries. It also provides, through its wholly owned subsidiary, Ault Capital Group, Inc., mission-critical products that support a diverse range of industries, including an artificial intelligence software platform, social gaming platform, equipment rental services, defense/aerospace, industrial, automotive, medical/biopharma and hotel operations. In addition, Hyperscale Data is actively engaged in private credit and structured finance through a licensed lending subsidiary. Hyperscale Data’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141.

Forward-Looking Statements

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

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

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

The MIL Network –

February 25, 2025
MIL-OSI Economics: Apple will spend more than $500 billion in the U.S. over the next four years

Source: Apple

Headline: Apple will spend more than $500 billion in the U.S. over the next four years

February 24, 2025

PRESS RELEASE

Apple will spend more than $500 billion in the U.S. over the next four years

Teams and facilities to expand in Michigan, Texas, California, Arizona, Nevada, Iowa, Oregon, North Carolina, and Washington

Plans include a new factory in Texas, doubling the U.S. Advanced Manufacturing Fund, a manufacturing academy, and accelerated investments in AI and silicon engineering

CUPERTINO, CALIFORNIA Apple today announced its largest-ever spend commitment, with plans to spend and invest more than $500 billion in the U.S. over the next four years. This new pledge builds on Apple’s long history of investing in American innovation and advanced high-skilled manufacturing, and will support a wide range of initiatives that focus on artificial intelligence, silicon engineering, and skills development for students and workers across the country.

“We are bullish on the future of American innovation, and we’re proud to build on our long-standing U.S. investments with this $500 billion commitment to our country’s future,” said Tim Cook, Apple’s CEO. “From doubling our Advanced Manufacturing Fund, to building advanced technology in Texas, we’re thrilled to expand our support for American manufacturing. And we’ll keep working with people and companies across this country to help write an extraordinary new chapter in the history of American innovation.”

As part of this package of U.S. investments, Apple and partners will open a new advanced manufacturing facility in Houston to produce servers that support Apple Intelligence, the personal intelligence system that helps users write, express themselves, and get things done. Apple will also double its U.S. Advanced Manufacturing Fund, create an academy in Michigan to train the next generation of U.S. manufacturers, and grow its research and development investments in the U.S. to support cutting-edge fields like silicon engineering.

The $500 billion commitment includes Apple’s work with thousands of suppliers across all 50 states, direct employment, Apple Intelligence infrastructure and data centers, corporate facilities, and Apple TV+ productions in 20 states. Apple remains one of the largest U.S. taxpayers, having paid more than $75 billion in U.S. taxes over the past five years, including $19 billion in 2024 alone.

Today, Apple supports more than 2.9 million jobs across the country through direct employment, work with U.S.-based suppliers and manufacturers, and developer jobs in the thriving iOS app economy.

Opening a New Manufacturing Facility in Houston

As part of its new U.S. investments, Apple will work with manufacturing partners to begin production of servers in Houston later this year. A 250,000-square-foot server manufacturing facility, slated to open in 2026, will create thousands of jobs.

Previously manufactured outside the U.S., the servers that will soon be assembled in Houston play a key role in powering Apple Intelligence, and are the foundation of Private Cloud Compute, which combines powerful AI processing with the most advanced security architecture ever deployed at scale for AI cloud computing. The servers bring together years of R&D by Apple engineers, and deliver the industry-leading security and performance of Apple silicon to the data center.

Teams at Apple designed the servers to be incredibly energy efficient, reducing the energy demands of Apple data centers — which already run on 100 percent renewable energy. As Apple brings Apple Intelligence to customers across the U.S., it also plans to continue expanding data center capacity in North Carolina, Iowa, Oregon, Arizona, and Nevada.

Doubling Apple’s U.S. Advanced Manufacturing Fund

As part of this new investment, Apple is doubling its U.S. Advanced Manufacturing Fund, which was created in 2017 to support world-class innovation and high-skilled manufacturing jobs across America. The growing commitment will increase the fund from $5 billion to $10 billion, focused on promoting advanced manufacturing and skills development throughout the country.

The fund’s expansion includes a multibillion-dollar commitment from Apple to produce advanced silicon in TSMC’s Fab 21 facility in Arizona. Apple is the largest customer at this state-of-the-art facility, which employs more than 2,000 workers to manufacture the chips in the United States. Mass production of Apple chips began last month.

Silicon used by Apple is designed to bring Apple users incredible features, performance, and power efficiency across their devices. Apple’s suppliers already manufacture silicon in 24 factories across 12 states, including Arizona, Colorado, Oregon, and Utah. The company’s investments in the sector help create thousands of high-paying jobs across the country at U.S. companies like Broadcom, Texas Instruments, Skyworks, and Qorvo.

To date, Apple’s U.S. Advanced Manufacturing Fund has supported projects in 13 states — including Kentucky, Pennsylvania, Texas, and Indiana — that have helped build local businesses, train workers, and create a wide range of innovative manufacturing processes and materials for Apple products.

Growing R&D Investments Across the U.S.

Apple continues to expand its R&D across the U.S. In the past five years, Apple has nearly doubled its U.S.-based advanced R&D spend, and it will continue to accelerate its growth.

Recently, Apple announced the newest addition to its iPhone lineup, iPhone 16e. iPhone 16e delivers fast, smooth performance and breakthrough battery life, thanks to the industry-leading efficiency of the A18 chip and the new Apple C1 — the first cellular modem designed by Apple, and the most power-efficient modem ever on an iPhone. Apple C1 adds a new chapter to the story of Apple silicon and is the result of years of R&D investment, bringing together the work of thousands of engineers. Apple C1 is the start of a long-term strategy that will allow Apple to innovate and optimize the modem system for additional Apple products.

In the next four years, Apple plans to hire around 20,000 people, of which the vast majority will be focused on R&D, silicon engineering, software development, and AI and machine learning. The expanded commitment includes significant investment in Apple’s R&D hubs across the country. This includes growing teams across the U.S. focused on areas including custom silicon, hardware engineering, software development, artificial intelligence, and machine learning.

Supporting American Businesses with a New Manufacturing Academy in Detroit

To help companies transition to advanced manufacturing, Apple will open the Apple Manufacturing Academy in Detroit. Apple engineers, along with experts from top universities such as Michigan State, will consult with small- and medium-sized businesses on implementing AI and smart manufacturing techniques. The academy will also offer free in-person and online courses, with a skills development curriculum that teaches workers vital skills like project management and manufacturing process optimization. The courses will help drive productivity, efficiency, and quality in companies’ supply chains.

Apple has long been committed to investing in education and skills development for American workers and students. That includes ongoing and expanding grant programs for organizations like 4-H, Boys & Girls Clubs of America, and FIRST, which work closely with Apple in communities across the country to create free programming that helps young people learn vital skills like coding.

Apple’s support for the next generation of innovators also includes efforts like the company’s New Silicon Initiative, which prepares students for careers in hardware engineering and silicon chip design. Last year, this program expanded to students at Georgia Tech, and it now reaches students at eight schools across the country. Apple is continuing to expand the initiative, including a new collaboration with UCLA’s Center for Education of Microchip Designers (CEMiD) beginning this year.

About Apple Apple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, AirPods, Apple Watch, and Apple Vision Pro. Apple’s six software platforms — iOS, iPadOS, macOS, watchOS, visionOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, iCloud, and Apple TV+. Apple’s more than 150,000 employees are dedicated to making the best products on earth and to leaving the world better than we found it.

Press Contacts

Nick Leahy

Apple

nleahy@apple.com

Anna Mitchell

Apple

anna_m@apple.com

Apple Media Helpline

media.help@apple.com

MIL OSI Economics –

February 25, 2025
MIL-OSI United Kingdom: Letter from the Minister for Homelessness and Democracy

Source: United Kingdom – Executive Government & Departments

Correspondence

Letter from the Minister for Homelessness and Democracy

A letter from the Minister for Homelessness and Democracy to CSPL Chair, Doug Chalmers on regulating election finance

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Letter from Rushanara Ali MP to Doug Chalmers on regulating election finance

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Rushanara Ali MP, Parliamentary Under-Secretary of State for Homelessness and Democracy, Ministry of Housing, Communities and Local Government, has written to CSPL Chair, Doug Chalmers CB, DSO, OBE in response to his letter of 20 January about CSPL’s 2021 report, Regulating Election Finance.

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MIL OSI United Kingdom –

February 25, 2025

MIL-OSI: Gran Tierra Energy Inc. Announces 2024 Fourth Quarter & Year-End Results

Source: GlobeNewswire (MIL-OSI)

Record Fourth Quarter Production of 41,009 BOEPD
Realized 2024 Net Income of $3 Million ($0.10 per Share, Basic) and 2024 Adjusted EBITDA¹of $367 Million
Delivered Net Cash Provided by Operating Activities of $239.3 million, up 5% from 2023
Generated 2024 Funds Flow from Operations¹of $225 Million and Achieved 2024 Average Working Interest Production of 34,710 BOEPD, up 6% from 2023
Sixth Consecutive Year of 1P Total Company Reserves Growth
Highest Year-End Total Company Reserves in Company History – 167 MMBOE 1P, 293 MMBOE 2P and 385 MMBOE 3P and Achieved 702% 1P, 1,249% 2P and 1,500% 3P Reserves Replacement
Net Asset Value per Share³of $35.22 Before Tax and $19.51 After Tax (1P), and $71.14 Before Tax and $41.03 After Tax (2P)
Achieved Company’s Best Safety Performance on Record in 2024

CALGARY, Alberta, Feb. 24, 2025 (GLOBE NEWSWIRE) — Gran Tierra Energy Inc. (“Gran Tierra” or the “Company”) (NYSE American:GTE) (TSX:GTE) (LSE:GTE) today announced the Company’s financial and operating results for the fourth quarter (“the Quarter”) and year ended December 31, 2024.³ All dollar amounts are in United States (“U.S.”) dollars and all reserves and production volumes are on an average working interest before royalties (“WI”) basis unless otherwise indicated. Production is expressed in barrels of oil equivalent (“boe”) per day (“boepd”), and reserves are expressed in boe or million boe (“MMBOE”), unless otherwise indicated. Gran Tierra’s 2024 year-end reserves were evaluated by the Company’s independent qualified reserves evaluator McDaniel & Associates Consultants Ltd. (“McDaniel”) in a report with an effective date of December 31, 2024 (the “GTE McDaniel Reserves Report”). All reserves values, future net revenue and ancillary information contained in this press release have been prepared by McDaniel and calculated in compliance with Canadian National Instrument 51-101 – Standards of Disclosure for Oil and Gas Activities (“NI 51-101”) and the Canadian Oil and Gas Evaluation Handbook (“COGEH”) and derived from the GTE McDaniel Reserves Report, unless otherwise expressly stated. The following reserves categories are discussed in this press release: Proved Developed Producing (“PDP”), Proved (“1P”), 1P plus Probable (“2P”) and 2P plus Possible (“3P”).

FOURTH QUARTER AND FULL-YEAR 2024 OPERATIONAL AND FINANCIAL HIGHLIGHTS

Message to Shareholders

Gary Guidry, President and Chief Executive Officer of Gran Tierra, commented: “2025 is set to be a transformational year for Gran Tierra as we advance exploration drilling in Ecuador, fulfilling all our commitments in the country while integrating our new entry into Canada. We ended 2024 at record highs across all reserve categories and production, setting a solid foundation for the future. While 2024 was dedicated to investing in resource capture, 2025 and beyond will be focused on execution—unlocking the full potential of our extensive, oil-weighted portfolio, which holds over 293 million BOE of 2P reserves. We are also pleased to confirm that Gran Tierra successfully met its average production guidance target for 2024. Furthermore, in 2024, Gran Tierra demonstrated its confidence in the Company’s future prospects by repurchasing 6.7% of our outstanding shares⁴ of common stock through our normal course issuer bid (“NCIB”) program, showing our dedication to long-term shareholder value creation. With a current before tax 1P net asset value of $35.23 per share, repurchases remain a strategic and efficient way to return capital to our shareholders, while reinforcing our commitment to long-term value creation.

We are excited about the prospects of our 2025 exploration initiatives in Ecuador and Colombia, where we are set to drill between 6 to 8 high-impact exploration wells in our base case. These prospects have the potential to be significant catalysts in our commitment to unlock new reserves and drive sustainable growth. On the development front, we look forward to further appraising our Ecuador discoveries, commencing development of the large Cohembi field, drilling wells in the Montney and appraisal wells in the Clearwater and Central Alberta. With a robust and diverse portfolio of assets, Gran Tierra is poised to capitalize on emerging opportunities and deliver value to all our stakeholders. As we continue to profitably advance our operational and financial goals, we remain deeply committed to the well-being of our employees and the communities where we operate, recognizing their essential role in our success.”

Operational:

Production:
- Gran Tierra achieved 2024 average WI production of 34,710 boepd, representing a 6% increase from 2023, as a result of positive exploration results in Ecuador and two months of production from Canadian operations acquired on October 31, 2024, partially offset by lower production in the Acordionero field caused by downtime related to workovers and deferred production from blockades in Suroriente during the Quarter.
- Building on the Company’s successful development drilling in 2024 and integrating its recently acquired Canadian assets, Gran Tierra expects 2025 production of 47,000-53,000 boepd, as previously forecast. This projected 2025 production increase is expected to result from the Company’s previously forecast 2025 development drilling program of 5-7 gross wells in Suroriente, 2-3 appraisal wells in Ecuador, as well as 6 development wells in Canada. Gran Tierra also plans to drill 6-8 exploration wells in South America in 2025.
2024 Year-End Reserves and Values^3,6:

Before Tax (as of December 31, 2024)	Units	1P	2P	3P
Reserves	MMBOE	167	293	385
Net Present Value at 10% Discount (“NPV10”)	$ million	1,950	3,242	4,517
Net Debt¹	$ million	(683)	(683)	(683)
Net Asset Value (NPV10 less Net Debt) (“NAV”)	$ million	1,267	2,559	3,834
Outstanding Shares	million	35.97	35.97	35.97
NAV per Share	$/share	35.23	71.14	106.62

After Tax (as of December 31, 2024)	Units	1P	2P	3P
Reserves	MMBOE	167	293	385
NPV10	$ million	1,385	2,159	2,930
Net Debt¹	$ million	(683)	(683)	(683)
NAV	$ million	702	1,476	2,247
Outstanding Shares	million	35.97	35.97	35.97
NAV per Share	$/share	19.51	41.03	62.46

As of December 31, 2024, Gran Tierra achieved⁶:
- Before Tax NAV of $1.3 billion (1P), $2.6 billion (2P), and $3.8 billion (3P)
- After Tax NAV of $0.7 billion (1P), $1.5 billion (2P), and $2.2 billion (3P)
- Strong reserves replacement ratios of:
  - 702% 1P, with 1P reserves additions of 89 MMBOE.
  - 1,249% 2P, with 2P reserves additions of 159 MMBOE.
  - 1,500% 3P, with 3P reserves additions of 191 MMBOE.
- NAV per share of $35.23 Before Tax and $19.51 After Tax (1P), and $71.14 Before Tax and $41.03 After Tax (2P). Gran Tierra’s current share price trades at significant discounts across all of the Company’s NAV per share categories.
- Finding, development and acquisition costs (“FD&A”), including change in future development costs (“FDC”), on a per boe basis of $9.74 (1P), $8.11 (2P) and $6.92 (3P).
- FD&A costs excluding change in FDC, on a per boe basis of $4.49 (1P), $2.52 (2P) and $2.10 (3P).
- Canada now represents 46% of 1P and 51% of 2P reserves compared to Gran Tierra’s total reserves.

Financial:

2024 Net Income: Gran Tierra realized a net income of $3.2 million or $0.10 per share (basic and diluted), compared to net loss of $6.3 million, or $(0.19) per share (basic and diluted) in 2023.
2024 Adjusted EBITDA¹: The Company realized Adjusted EBITDA¹ of $366.8 million, a decrease of 8% from $399.4 million in 2023, commensurate with the decrease in the Brent oil price.
2024 Net Cash Provided by Operating Activities: The Company generated net cash provided by operating activities of $239.3 million, an increase of 5% from $228.0 million in 2023.
2024 Funds Flow from Operations¹: Gran Tierra realized funds flow from operations¹ of $224.9 million, compared to $276.8 million in 2023.
2024 Capital Expenditures: Capital expenditures increased by $7.7 million or 3% to $234.2 million compared to 2023 due to a higher number of wells drilled in 2024, which was predominately funded by the Company’s 2024 net cash provided by operating activities of $239.3 million.
Key Metrics During the Quarter: The Company realized net income of $34.2 million, Adjusted EBITDA¹ of $76.2 million, and funds flow from operations¹ of $44.1 million, compared with $1.1 million, $92.8 million, and $60.3 million, respectively, in third quarter 2024 (“the Prior Quarter”). The Company recognized record high quarterly production of 41,009 BOEPD.
Cash Balance: The Company had $103.4 million in cash and cash equivalents as at December 31, 2024 an increase compared to a cash balance of $62.1 million as at December 31, 2023.
Share Buybacks: Since January 1, 2022, through its NCIB programs, the Company has re-purchased 6.8 million shares of Common Stock representing about 19% of shares outstanding as of December 31, 2024.
2024 Operating Costs: Total operating expenses were $202.3 million, compared to $186.9 million in 2023, representing an 8% increase while operating expenses per boe were $16.14, 2% higher when compared to 2023. This increase in 2024 was primarily as a result of higher workovers, and removal of diesel subsidies and higher gas and electricity costs in Colombia, partially offset by lower operating costs in Ecuador as a result of production ramp-up in 2024.
2024 Cash General and Administrative Costs: The Company’s gross cash general and administrative (“G&A”) costs decreased to $3.18 per boe from $3.38 per boe in 2023. Total cash G&A costs were $39.9 million, a decrease of 1% from $40.1 million in 2023, due to lower business development, legal and consulting costs compared to 2023, offset by the addition of two months of G&A from the newly acquired Canadian operation.
Oil, Natural Gas and Natural Gas Liquids (“NGL”) Sales:
- 2024: Gran Tierra’s oil, natural gas and NGL sales decreased 2% to $621.8 million, compared to $637.0 million in 2023. This decrease was primarily driven by a 3% decrease in Brent price and a 6% decrease in sales volumes in Colombia, offset by an increase in sales volumes in Ecuador and two months of production in Canada and lower differentials.
- The Quarter: Gran Tierra generated oil, natural gas and NGL sales of $147.3 million, a decrease of 3% or $4.1 million from the Prior Quarter, primarily driven by a 6% decrease in the Brent oil price, offsetting a 31% increase in production. Oil, natural gas and NGL sales were $39.73 per boe, a 22% decrease from the Prior Quarter primarily as a result of low natural gas prices in Canada.
Operating Netback¹:
- 2024: Gran Tierra’s operating netback¹ of $31.99 per boe was down 13% from $36.72 in 2023.
- The Quarter: The Company’s operating netback¹ of $22.19 per boe was lower by 38% from the fourth quarter 2023 and a decrease of 35% from the Prior Quarter due to increased weighting to natural gas in Canada and lower oil price.

Operational Update

Colombia:
- Suroriente Block: The first well on the Cohembi North pad spud on February 10, 2025, with production expected by the end of the first quarter of 2025.
Ecuador:
- Iguana Block: Gran Tierra is currently drilling the first exploration well in its 6-8 well program with the Iguana SUR-B1 exploration well which was spud on February 4, 2025.
Canada:
- Simonette: The development plan with our new joint venture partner, Logan Energy Corp., has commenced with the first two horizontal wells being drilled. Both wells are planned to be stimulated by the end of February and onstream by the end of the first quarter 2025.
- Central: Gran Tierra has drilled and completed a well in the Nisku with a horizontal lateral length of over 3,000 meters; testing has commenced.
- Clearwater: Gran Tierra has drilled 5 new wells in the Clearwater at East Dawson and Walrus. The program has confirmed the quality of our acreage in the Clearwater play. These wells are expected to come on-stream in the first quarter 2025. A pilot waterflood at Marten Hills will commence with the drilling of a multilateral injector in the first quarter 2025.

Gran Tierra’s Commitment to Go “Beyond Compliance” with Safe and Sustainable Operations

2024 was the Company’s safest year on record. GTE has accumulated a total of 27.8 million person-hours without a Lost Time Injury (LTI), and in 2024, the Company’s Total Recordable Incident Frequency (TRIF) was 0.03, placing Gran Tierra in the top quartile for safety performance across its operating regions.
2024 was another exciting year for the NaturAmazonas project, a partnership founded by Conservation International and Gran Tierra Energy in 2017. The high-quality cocoa produced through this program garnered international attention resulting in a signed commercial agreement with KAOKA, one of the largest buyers of organic cocoa worldwide, to export 12.5 tons of organic deforestation free cocoa. This outcome means additional markets and incomes for producers in Putumayo.
To date, the NaturAmazonas program has seen over 3,500 hectares of the Amazonian rainforest restored including over 1.6 million trees planted. The meliponiculturists (stingless beekeepers) from our Sustainable Productive Landscapes program, own Colombia’s largest number of hives, which is estimated to be 6,000 hives. Their bees contribute to pollination across approximately 24,000 hectares of native forests and cultivated plantations.
The NaturAmazonas project has also benefited more than 4,200 families from the departments of Putumayo, Caquetá and Cauca, who have been trained in conservation techniques and supported the implementation of sustainable economic opportunities such as the production of organic cocoa, honey and açaí.
Gran Tierra has been accepted by the Voluntary Principles Initiative (VPI) as an official member of the Voluntary Principles for Security and Human Rights world-wide initiative.

Corporate Presentation:

Gran Tierra’s Corporate Presentation has been updated and is available at www.grantierra.com.

Financial and Operational Highlights⁵(all amounts in $000s, except per share and boe amounts)

	Year Ended						Three Months Ended
	December 31,			December 31,			December 31,			December 31,			September 30,
		2024			2023			2024			2023			2024
Net Income (Loss)	$	3,216		$	(6,287	)	$	(34,210	)	$	7,711		$	1,133
Net Income (Loss) Per Share – Basic	$	0.10		$	(0.19	)	$	(1.04	)	$	0.24		$	0.04
Net Income (Loss) Per Share – Diluted	$	0.10		$	(0.19	)	$	(1.04	)	$	0.23		$	0.04

Oil, Natural Gas and NGL Sales	$	621,849		$	636,957		$	147,290		$	154,944		$	151,373
Operating Expenses		(202,331	)		(186,864	)		(60,770	)		(47,637	)		(46,060	)
Transportation Expenses		(18,464	)		(14,546	)		(4,279	)		(3,947	)		(3,911	)
Operating Netback¹	$	401,054		$	435,547		$	82,241		$	103,360		$	101,402

G&A Expenses Before Stock-based Compensation	$	39,912		$	40,124		$	8,672		$	11,072		$	9,491
G&A Expenses (Recovery) Stock-Based Compensation		9,707			5,722			3,331			1,974			(3,145	)
G&A Expenses, Including Stock-Based Compensation	$	49,619		$	45,846		$	12,003		$	13,046		$	6,346

EBITDA¹	$	355,690		$	377,550		$	65,247		$	83,634		$	97,365

Adjusted EBITDA¹	$	366,758		$	399,355		$	76,168		$	92,964		$	92,794

Net Cash Provided by Operating Activities	$	239,321		$	227,992		$	26,607		$	69,027		$	78,654

Funds Flow from Operations¹	$	224,941		$	276,785		$	44,129		$	84,663		$	60,338

Capital Expenditures	$	234,236		$	226,584		$	70,413		$	35,826		$	49,779

Free Cash Flow¹	$	(9,295	)	$	50,201		$	(26,284	)	$	48,837		$	10,559

Average Daily Volumes (BOEPD)
Working Interest Production Before Royalties		34,710			32,647			41,009			31,309			32,764
Royalties		(6,820	)		(6,548	)		(7,327	)		(6,417	)		(6,776	)
Production NAR		27,890			26,099			33,682			24,892			25,988
(Decrease) Increase in Inventory		(454	)		(152	)		(712	)		57			(523	)
Sales		27,436			25,947			32,970			24,949			25,465
Royalties, % of WI Production Before Royalties		20	%		20	%		18	%		20	%		21	%

Per boe⁵
Brent	$	79.86		$	82.16		$	74.01		$	82.85		$	78.71
Quality and Transportation Discount		(17.93	)		(14.91	)		(25.45	)		(15.34	)		(14.10	)
Royalties		(12.33	)		(13.55	)		(8.83	)		(13.47	)		(13.58	)
Average Realized Price	$	49.60		$	53.70		$	39.73		$	54.04		$	51.03
Transportation Expenses		(1.47	)		(1.23	)		(1.15	)		(1.38	)		(1.32	)
Average Realized Price Net of Transportation Expenses	$	48.13		$	52.47		$	38.58		$	52.66		$	49.71
Operating Expenses		(16.14	)		(15.75	)		(16.39	)		(16.61	)		(15.53	)
Operating Netback¹	$	31.99		$	36.72		$	22.19		$	36.05		$	34.18
Cash G&A Expenses		(3.18	)		(3.38	)		(2.34	)		(3.86	)		(3.20	)
Severance Expenses		(0.12	)		—			(0.41	)		—			—
Transaction Costs		(0.47	)		—			(1.20	)		—			(0.49	)
Realized Foreign Exchange Gain (Loss)		0.07			(1.43	)		0.07			(0.34	)		0.34
Cash Settlement on Derivative Instruments		0.09			—			0.30			—			—
Interest Expense, Excluding Amortization of Debt Issuance Costs		(5.38	)		(4.21	)		(5.40	)		(5.35	)		(5.65	)
Interest Income		0.29			0.17			0.34			0.10			0.23
Other Cash Gain		0.12			—			0.40			—			—
Net Lease Payments		0.07			0.16			0.07			0.13			0.07
Current Income Tax (Expense) Recovery		(5.53	)		(4.70	)		(2.12	)		2.80			(5.13	)
Cash Netback¹	$	17.95		$	23.33		$	11.90		$	29.53		$	20.35

Share Information (000s)
Common Stock Outstanding, End of Period		35,972			32,247			35,972			32,247			33,288
Weighted Average Number of Common – Basic		32,043			33,470			34,333			32,861			33,287
Weighted Average Number of Common – Diluted		32,043			33,470			34,333			32,921			33,350

	As at December 31
($000s)		2024		2023	% Change
Cash and cash equivalents	$	103,379	$	62,146	66

Credit facility	$	—	$	36,364	(100	)

Senior Notes	$	786,619	$	536,619	47

Additional information on 2024 expenses:

Quality and Transportation Discount: increased in 2024 to $17.93 per boe compared to $14.91 per boe in 2023.
Transportation Expenses: increased by 20% to $1.47 per boe in 2024 from $1.23 per boe in 2023 primarily due to higher sales volumes transported in Ecuador, two months transportation of sales volumes in Canada through pipelines, and an increase in trucking tariffs for Acordionero volumes in 2024.
Royalties: decreased to $12.33 per boe in 2024, from $13.55 per boe in 2023. This decrease was driven by the 3% decrease in the Brent oil price in 2024 relative to 2023.

_{¹ Operating netback, EBITDA, Adjusted EBITDA, funds flow from operations, net debt, free cash flow, and cash netback, are non-GAAP measures and do not have a standardized meaning under GAAP. Cash flow refers to the GAAP line item “net cash provided by operating activities”. Refer to “Non-GAAP Measures” in this press release for descriptions of these non-GAAP measures and reconciliations to the most directly comparable measures calculated and presented in accordance with GAAP.}
_{² NAV per share is calculated as NPV10 (before or after tax, as applicable) of the applicable reserves category minus net debt, divided by the number of shares of Gran Tierra’s common stock issued and outstanding.}
_{³ All dollar amounts are in United States dollars and production and reserves volumes are on an average WI before royalties basis, unless otherwise indicated. Per boe amounts are based on WI sales before royalties. Production is expressed in boepd and reserves are expressed in boe or MMBOE, unless otherwise indicated. For per boe amounts based on net after royalty (“NAR”) production, see Gran Tierra’s Annual Report on Form 10-K filed February 24, 2025}
_{⁴ Outstanding shares based on December 31, 2023 balance of 32,246,501 shares}
_{⁵ Per boe amounts are based on WI sales before royalties. For per boe amounts based on NAR production, see Gran Tierra’s Annual Report on Form 10-K filed on February 24, 2025.}
_{⁶ The after-tax net present value of the Company’s oil and gas properties reflects the tax burden on the properties on a stand-alone basis. It does not consider the corporate tax situation, or tax planning. It does not provide an estimate of the value at the Company level which may be significantly different. The Company’s financial statements should be consulted for information at the Company level.}

Conference Call Information

Gran Tierra will host its fourth quarter and full year 2024 results conference call on Monday, February 24, 2025, at 9:00 a.m. Mountain Time, 11:00 a.m. Eastern Time, and 4:00 p.m. Greenwich Mean Time. Interested parties may register for the conference call by going to the following link: https://register.vevent.com/register/BI73eac887f1ea473fb403e3c298d6860c. Please note that there is no longer a general dial-in number to participate and each individual party must register through the provided link. Once parties have registered, they will be provided a unique PIN and call-in details. There is also a feature that allows parties to elect to be called back through the “Call Me” function on the platform. Interested parties can also continue to access the live webcast from their mobile or desktop devices by going to the following link: https://edge.media-server.com/mmc/p/6sr4wvg8, which is also available on Gran Tierra’s website at https://www.grantierra.com/investor-relations/presentations-events/.

About Gran Tierra Energy Inc.

Gran Tierra Energy Inc., together with its subsidiaries, is an independent international energy company currently focused on oil and natural gas exploration and production in Canada, Colombia and Ecuador. The Company is currently developing its existing portfolio of assets in Canada, Colombia and Ecuador and will continue to pursue additional new growth opportunities that would further strengthen the Company’s portfolio. The Company’s common stock trades on the NYSE American, the Toronto Stock Exchange and the London Stock Exchange under the ticker symbol GTE. Additional information concerning Gran Tierra is available at www.grantierra.com. Except to the extent expressly stated otherwise, information on the Company’s website or accessible from our website or any other website is not incorporated by reference into and should not be considered part of this press release. Investor inquiries may be directed to info@grantierra.com or (403) 265-3221.

Gran Tierra’s Securities and Exchange Commission (the “SEC”) filings are available on the SEC website at http://www.sec.gov. The Company’s Canadian securities regulatory filings are available on SEDAR+ at http://www.sedarplus.ca and UK regulatory filings are available on the National Storage Mechanism website at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

Contact Information

For investor and media inquiries please contact:

Gary Guidry, President & Chief Executive Officer

Ryan Ellson, Executive Vice President & Chief Financial Officer

Tel: +1.403.265.3221

For more information on Gran Tierra please go to: www.grantierra.com.

Forward Looking Statements and Legal Advisories:

This press release contains opinions, forecasts, projections, and other statements about future events or results that constitute forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and financial outlook and forward looking information within the meaning of applicable Canadian securities laws (collectively, “forward- looking statements”), which can be identified by such terms as “believe,” “expect,” “anticipate,” “forecast,” “budget,” “will,” “estimate,” “target,” “project,” “plan,” “should,” “guidance,” “outlook,” “strives” or similar expressions are forward-looking statements. Such forward-looking statements include, but are not limited to, the Company’s strategies and expectations, capital program, drilling plans, cost saving initiatives, future sources of funding for capital expenditures and other activities, future planned operations and production estimates, forecast prices, and the Company’s plans to benefit the environment or communities in which it operates. Statements relating to “reserves” are also deemed to be forward-looking statements, as they involve the implied assessment, based on certain estimates and assumptions, including that the reserves described can be profitably produced in the future.

The forward-looking statements contained in this press release reflect several material factors and expectations and assumptions of Gran Tierra including, without limitation, that Gran Tierra will continue to conduct its operations in a manner consistent with its current expectations, the ability of Gran Tierra to successfully integrate the assets and operations of i3 Energy or realize the anticipated benefits and operating synergies expected from the acquisition of i3 Energy, the accuracy of testing and production results and seismic data, pricing and cost estimates (including with respect to commodity pricing and exchange rates), rig availability, the risk profile of planned exploration activities, the effects of drilling down-dip, the 5-year weighted-average Brent forecast, the effects of waterflood and multi-stage fracture stimulation operations, the extent and effect of delivery disruptions, and the general continuance of current or, where applicable, assumed operational, regulatory and industry conditions in Canada, Colombia and Ecuador and areas of potential expansion, and the ability of Gran Tierra to execute its business and operational plans in the manner currently planned. Gran Tierra believes the material factors, expectations and assumptions reflected in the forward-looking statements are reasonable at this time but no assurance can be given that these factors, expectations and assumptions will prove to be correct.

Among the important factors that could cause actual results to differ materially from those indicated by the forward-looking statements in this press release are: our operations are located in South America and unexpected problems can arise due to guerilla activity, strikes, local blockades or protests; technical difficulties and operational difficulties may arise which impact the production, transport or sale of our products; other disruptions to local operations; global health events; global and regional changes in the demand, supply, prices, differentials or other market conditions affecting oil and gas, including inflation and changes resulting from a global health crisis, geopolitical events, including the ongoing conflicts in Ukraine and the Gaza region, or from the imposition or lifting of crude oil production quotas or other actions that might be imposed by OPEC and other producing countries and resulting company or third-party actions in response to such changes; changes in commodity prices, including volatility or a prolonged decline in these prices relative to historical or future expected levels; the risk that current global economic and credit conditions may impact oil and natural gas prices and oil and natural gas consumption more than we currently predict, which could cause further modification of our strategy and capital spending program; prices and markets for oil and natural gas are unpredictable and volatile; the effect of hedges; the accuracy of productive capacity of any particular field; geographic, political and weather conditions can impact the production, transport or sale of our products; our ability to execute our business plan, which may include acquisitions, and realize expected benefits from current or future initiatives; the risk that unexpected delays and difficulties in developing currently owned properties may occur; the ability to replace reserves and production and develop and manage reserves on an economically viable basis; the accuracy of testing and production results and seismic data, pricing and cost estimates (including with respect to commodity pricing and exchange rates); the risk profile of planned exploration activities; the effects of drilling down-dip; the effects of waterflood and multi-stage fracture stimulation operations; the extent and effect of delivery disruptions, equipment performance and costs; actions by third parties; the timely receipt of regulatory or other required approvals for our operating activities; the failure of exploratory drilling to result in commercial wells; unexpected delays due to the limited availability of drilling equipment and personnel; volatility or declines in the trading price of our common stock or bonds; the risk that we do not receive the anticipated benefits of government programs, including government tax refunds; our ability to comply with financial covenants in its credit agreement and indentures and make borrowings under any credit agreement; and the risk factors detailed from time to time in Gran Tierra’s periodic reports filed with the Securities and Exchange Commission, including, without limitation, under the caption “Risk Factors” in Gran Tierra’s Annual Report on Form 10-K for the year ended December 31, 2024 filed February 24, 2025 and its other filings with the SEC. These filings are available on the SEC website at http://www.sec.gov and on SEDAR+ at www.sedarplus.ca. Although the current guidance, capital spending program and long term strategy of Gran Tierra are based upon the current expectations of the management of Gran Tierra, should any one of a number of issues arise, Gran Tierra may find it necessary to alter its business strategy and/or capital spending program and there can be no assurance as at the date of this press release as to how those funds may be reallocated or strategy changed and how that would impact Gran Tierra’s results of operations and financial position. Forecasts and expectations that cover multi-year time horizons or are associated with 2P reserves inherently involve increased risks and actual results may differ materially.

All forward-looking statements are made as of the date of this press release and the fact that this press release remains available does not constitute a representation by Gran Tierra that Gran Tierra believes these forward-looking statements continue to be true as of any subsequent date. Actual results may vary materially from the expected results expressed in forward-looking statements. Gran Tierra disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. In addition, historical, current and forward-looking sustainability-related statements may be based on standards for measuring progress that are still developing, internal controls and processes that continue to evolve, and assumptions that are subject to change in the future.

The estimates of future production, future net revenue and certain expenses or costs set forth in this press release may be considered to be future-oriented financial information or a financial outlook for the purposes of applicable Canadian securities laws. Financial outlook and future-oriented financial information contained in this press release about prospective operational and financial performance, financial position or cash flows are provided to give the reader a better understanding of the potential future performance of the Company in certain areas and are based on assumptions about future events, including economic conditions and proposed courses of action, based on management’s assessment of the relevant information currently available, and to become available in the future. In particular, this press release contains projected operational and financial information for 2025. These projections contain forward-looking statements and are based on a number of material assumptions and factors set out above. Actual results may differ significantly from the projections presented herein. The actual results of Gran Tierra’s operations for any period could vary from the amounts set forth in these projections, and such variations may be material. See above for a discussion of the risks that could cause actual results to vary. The future-oriented financial information and financial outlooks contained in this press release have been approved by management as of the date of this press release. Readers are cautioned that any such financial outlook and future-oriented financial information contained herein should not be used for purposes other than those for which it is disclosed herein. The Company and its management believe that the prospective operational and financial information has been prepared on a reasonable basis, reflecting management’s best estimates and judgments, and represent, to the best of management’s knowledge and opinion, the Company’s expected course of action. However, because this information is highly subjective, it should not be relied on as necessarily indicative of future results.

Non-GAAP Measures

This press release includes non-GAAP financial measures as further described herein. These non-GAAP measures do not have a standardized meaning under GAAP. Investors are cautioned that these measures should not be construed as alternatives to net income or loss, cash flow from operating activities or other measures of financial performance as determined in accordance with GAAP. Gran Tierra’s method of calculating these measures may differ from other companies and, accordingly, they may not be comparable to similar measures used by other companies. Each non-GAAP financial measure is presented along with the corresponding GAAP measure so as not to imply that more emphasis should be placed on the non-GAAP measure.

Net Debt, as presented as at December 31, 2024 is comprised of $787 million (gross) of senior notes outstanding less cash and cash equivalents of $103 million, prepared in accordance with GAAP. Management believes that net debt is a useful supplemental measure for management and investors in order to evaluate the financial sustainability of the Company’s business and leverage. The most directly comparable GAAP measure is total debt.

Operating netback, as presented is defined as oil, natural gas and NGL sales less operating and transportation expenses. Operating netback per boe, as presented is defined as average realized price per boe less operating and transportation expenses per boe. Cash netback, as presented, is defined as net income or loss adjusted for depletion, depreciation and accretion (“DD&A”) expenses, deferred tax expense or recovery, stock-based compensation expense or recovery, amortization of debt issuance costs, non-cash lease expense, lease payments, unrealized foreign exchange gains or losses, other non-cash gains or losses and other financial instruments gains or losses. Cash netback per boe, as presented, is defined as cash netback over WI sales volumes. Management believes that operating netback and cash netback are useful supplemental measures for investors to analyze financial performance and provide an indication of the results generated by Gran Tierra’s principal business activities prior to the consideration of other income and expenses. See the table entitled Financial and Operational Highlights above for the components of operating netback and operating netback per boe. A reconciliation from net income or loss to cash netback is as follows:

	Year Ended						Three Months Ended
	December 31,						December 31,						September 30,
Cash Netback – Non-GAAP Measure ($000s)		2024			2023			2024			2023			2024
Net (loss) income	$	3,216		$	(6,287	)	$	(34,210	)	$	7,711		$	1,133
Adjustments to reconcile net (loss) income to cash netback
DD&A expenses		230,619			215,584			63,406			52,635			55,573
Deferred tax (recovery) expense		(27,888	)		56,759			4,444			13,517			5,550
Stock-based compensation expense (recovery)		9,707			5,722			3,331			1,974			(3,145	)
Amortization of debt issuance costs		12,918			5,831			3,743			2,437			3,109
Non-cash lease expense		5,923			4,967			1,759			1,479			1,370
Lease payments		(5,035	)		(3,018	)		(1,495	)		(1,100	)		(1,171	)
Unrealized foreign exchange (gain) loss		(7,893	)		(5,085	)		(223	)		2,729			(2,081	)
Other non-cash loss		—			2,312			—			3,281			—
Unrealized derivative instruments loss		3,374			—			3,374			—			—
Cash netback (non-GAAP)	$	224,941		$	276,785		$	44,129		$	84,663		$	60,338

EBITDA, as presented, is defined as net income or loss adjusted for DD&A expenses, interest expense, and income tax expense. Adjusted EBITDA, as presented, is defined as EBITDA adjusted for non-cash lease expense, lease payments, foreign exchange gains or losses, transaction costs, other financial instruments gains or losses, other non-cash gain or loss and stock-based compensation expense. Management uses this supplemental measure to analyze performance and income generated by our principal business activities prior to the consideration of how non-cash items affect that income, and believes that this financial measure is a useful supplemental information for investors to analyze our performance and our financial results. A reconciliation from net income or loss or loss to EBITDA and adjusted EBITDA is as follows:

	Year Ended						Three Months Ended
	December 31,						December 31,						September 30,
EBITDA – Non-GAAP Measure ($000s)		2024			2023			2024			2023			2024
Net (loss) income	$	3,216		$	(6,287	)	$	(34,210	)	$	7,711		$	1,133
Adjustments to reconcile net (loss) income to EBITDA and Adjusted EBITDA
DD&A expenses		230,619			215,584			63,406			52,635			55,573
Interest expense		80,466			55,806			23,752			17,789			19,892
Income tax expense		41,389			112,447			12,299			5,499			20,767
EBITDA (non-GAAP)	$	355,690		$	377,550		$	65,247		$	83,634		$	97,365
Non-cash lease expense		5,923			4,967			1,759			1,479			1,370
Lease payments		(5,035	)		(3,018	)		(1,495	)		(1,100	)		(1,171	)
Foreign exchange loss		(8,808	)		11,822			(496	)		3,696			(3,084	)
Unrealized derivative instruments loss		3,374			—			3,374			—			—
Transaction costs		5,907			—			4,448			—			1,459
Other non-cash gain		—			2,312			—			3,281			—
Stock-based compensation expense (recovery)		9,707			5,722			3,331			1,974			(3,145	)
Adjusted EBITDA (non-GAAP)	$	366,758		$	399,355		$	76,168		$	92,964		$	92,794

Funds flow from operations, as presented, is defined as net income or loss adjusted for DD&A expenses, deferred tax expense or recovery, stock-based compensation expense or recovery, amortization of debt issuance costs, non-cash lease expense, lease payments, unrealized foreign exchange gains or losses, other non-cash gains or losses, and other financial instruments gains or losses. Management uses this financial measure to analyze performance and income or loss generated by our principal business activities prior to the consideration of how non-cash items affect that income or loss, and believes that this financial measure is also useful supplemental information for investors to analyze performance and our financial results. Free cash flow, as presented, is defined as funds flow from operations adjusted for capital expenditures. Management uses this financial measure to analyze cash flow generated by our principal business activities after capital requirements and believes that this financial measure is also useful supplemental information for investors to analyze performance and our financial results. A reconciliation from net income or loss or loss to funds flow from operations and free cash flow is as follows:

	Year Ended						Three Months Ended
	December 31,							December 31,						September 30,
Funds Flow From Operations – Non-GAAP Measure ($000s)		2024			2023				2024			2023			2024
Net (loss) income	$	3,216		$	(6,287	)		$	(34,210	)	$	7,711		$	1,133
Adjustments to reconcile net (loss) income to funds flow from operations
DD&A expenses		230,619			215,584				63,406			52,635			55,573
Deferred tax (recovery) expense		(27,888	)		56,759				4,444			13,517			5,550
Stock-based compensation expense (recovery)		9,707			5,722				3,331			1,974			(3,145	)
Amortization of debt issuance costs		12,918			5,831				3,743			2,437			3,109
Non-cash lease expense		5,923			4,967				1,759			1,479			1,370
Lease payments		(5,035	)		(3,018	)			(1,495	)		(1,100	)		(1,171	)
Unrealized foreign exchange (gain) loss		(7,893	)		(5,085	)			(223	)		2,729			(2,081	)
Other non-cash loss		—			2,312				—			3,281			—
Unrealized derivative instruments loss		3,374			—				3,374			—			—
Funds flow from operations (non-GAAP)	$	224,941		$	276,785			$	44,129		$	84,663		$	60,338
Capital expenditures	$	234,236		$	226,584			$	70,413		$	35,826		$	49,779
Free cash flow (non-GAAP)	$	(9,295	)	$	50,201			$	(26,284	)	$	48,837		$	10,559

DISCLOSURE OF OIL AND GAS INFORMATION

Gran Tierra’s Statement of Reserves Data and Other Oil and Gas Information on Form 51-101F1 dated effective as at December 31, 2024, which includes disclosure of its oil and gas reserves and other oil and gas information in accordance with NI 51-101 and COGEH forming the basis of this press release, is available on SEDAR+ at www.sedarplus.ca. All reserves values, future net revenue and ancillary information contained in this press release as of December 31, 2024 are derived from the GTE McDaniel Reserves Report.

Estimates of net present value and future net revenue contained herein do not necessarily represent fair market value of reserves. Estimates of reserves and future net revenue for individual properties may not reflect the same level of confidence as estimates of reserves and future net revenue for all properties, due to the effect of aggregation. There is no assurance that the forecast price and cost assumptions applied by McDaniel in evaluating Gran Tierra’s reserves and future net revenue will be attained and variances could be material. See Gran Tierra’s press release dated January 23, 2025 for a summary of the price forecasts employed by McDaniel in the GTE McDaniel Reserves Report and other information regarding the disclosed future net revenue.

All evaluations of future net revenue contained in the GTE McDaniel Reserves Report are after the deduction of royalties, operating costs, development costs, production costs and abandonment and reclamation costs but before consideration of indirect costs such as administrative, overhead and other miscellaneous expenses. It should not be assumed that the estimates of future net revenue presented in this press release represent the fair market value of the reserves. There are numerous uncertainties inherent in estimating quantities of crude oil and natural gas reserves and the future cash flows attributed to such reserves. The reserve and associated cash flow information set forth in the GTE McDaniel Reserves Report are estimates only and there is no guarantee that the estimated reserves will be recovered. Actual reserves may be greater than or less than the estimates provided therein.

BOEs have been converted on the basis of six thousand cubic feet (“Mcf”) natural gas to 1 boe of oil. BOEs may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 Mcf: 1 boe is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. In addition, given that the value ratio based on the current price of oil as compared with natural gas is significantly different from the energy equivalent of six to one, utilizing a BOE conversion ratio of 6 Mcf: 1 boe would be misleading as an indication of value.

References to a formation where evidence of hydrocarbons has been encountered is not necessarily an indicator that hydrocarbons will be recoverable in commercial quantities or in any estimated volume. Gran Tierra’s reported production is a mix of light crude oil and medium, heavy crude oil, tight oil, conventional natural gas, shale gas and natural gas liquids for which there is no precise breakdown since the Company’s sales volumes typically represent blends of more than one product type. Well test results should be considered as preliminary and not necessarily indicative of long-term performance or of ultimate recovery. Well log interpretations indicating oil and gas accumulations are not necessarily indicative of future production or ultimate recovery. If it is indicated that a pressure transient analysis or well-test interpretation has not been carried out, any data disclosed in that respect should be considered preliminary until such analysis has been completed. References to thickness of “oil pay” or of a formation where evidence of hydrocarbons has been encountered is not necessarily an indicator that hydrocarbons will be recoverable in commercial quantities or in any estimated volume.

Future Net Revenue

Future net revenue reflects McDaniel’s forecast of revenue estimated using forecast prices and costs, arising from the anticipated development and production of reserves, after the deduction of royalties, operating costs, development costs and abandonment and reclamation costs and taxes but before consideration of indirect costs such as administrative, overhead and other miscellaneous expenses. The estimate of future net revenue below does not necessarily represent fair market value.

Consolidated Properties at December 31, 2024
Proved (1P) Total Future Net Revenue ($ million)
Forecast Prices and Costs
Years	Sales Revenue	Total Royalties		Operating Costs		Future Development Capital		Abandonment and Reclamation Costs		Future Net Revenue Before Future Taxes	Future Taxes		Future Net Revenue After Future Taxes*
2025-2029 (5 Years)	5,139	(981	)	(1,385	)	(1,025	)	(27	)	1,721	(491	)	1,230
Remainder	3,617	(578	)	(1,549	)	(4	)	(377	)	1,109	(370	)	739
Total (Undiscounted)	8,756	(1,559	)	(2,934	)	(1,029	)	(404	)	2,830	(861	)	1,969
Total (Discounted @ 10%)										1,950	(565	)	1,385

Consolidated Properties at December 31, 2024
Proved Plus Probable (2P) Total Future Net Revenue ($ million)
Forecast Prices and Costs
Years	Sales Revenue	Total Royalties		Operating Costs		Future Development Capital		Abandonment and Reclamation Costs		Future Net Revenue Before Future Taxes	Future Taxes		Future Net Revenue After Future Taxes*
2025-2029 (5 Years)	6,620	(1,297	)	(1,583	)	(1,438	)	(25	)	2,277	(791	)	1,486
Remainder	8,685	(1,529	)	(2,967	)	(371	)	(420	)	3,398	(1,082	)	2,316
Total (Undiscounted)	15,305	(2,826	)	(4,550	)	(1,809	)	(445	)	5,675	(1,873	)	3,802
Total (Discounted @ 10%)										3,242	(1,083	)	2,159

Consolidated Properties at December 31, 2024
Proved Plus Probable Plus Possible (3P) Total Future Net Revenue ($ million)
Forecast Prices and Costs
Years	Sales Revenue	Total Royalties		Operating Costs		Future Development Capital		Abandonment and Reclamation Costs		Future Net Revenue Before Future Taxes	Future Taxes		Future Net Revenue After Future Taxes*
2025-2029 (5 Years)	7,490	(1,467	)	(1,672	)	(1,563	)	(25	)	2,763	(1,015	)	1,748
Remainder	13,422	(2,598	)	(4,106	)	(519	)	(439	)	5,760	(1,907	)	3,853
Total (Undiscounted)	20,912	(4,065	)	(5,778	)	(2,082	)	(464	)	8,523	(2,922	)	5,601
Total (Discounted @ 10%)										4,517	(1,587	)	2,930

Definitions

Proved reserves are those reserves that can be estimated with a high degree of certainty to be recoverable. It is likely that the actual remaining quantities recovered will exceed the estimated proved reserves.

Probable reserves are those additional reserves that are less certain to be recovered than proved reserves. It is equally likely that the actual remaining quantities recovered will be greater or less than the sum of the estimated proved plus probable reserves.

Possible reserves are those additional reserves that are less certain to be recovered than Probable reserves. It is unlikely that the actual remaining quantities recovered will be greater or less than the sum of the estimated proved plus probable plus possible reserves. There is a 10% probability that the quantities actually recovered will equal or exceed the sum of Proved plus Probable plus Possible reserves.

Certain terms used in this press release but not defined are defined in NI 51-101, CSA Staff Notice 51-324 – Revised Glossary to NI 51-101 Standards of Disclosure for Oil and Gas Activities (“CSA Staff Notice 51-324”) and/or the COGEH and, unless the context otherwise requires, shall have the same meanings herein as in NI 51-101, CSA Staff Notice 51-324 and the COGEH, as the case may be.

Oil and Gas Metrics

This press release contains a number of oil and gas metrics, including NAV per share, FD&A costs, operating netback, cash netback, and reserves replacement which do not have standardized meanings or standard methods of calculation and therefore such measures may not be comparable to similar measures used by other companies and should not be used to make comparisons. Such metrics have been included herein to provide readers with additional measures to evaluate the Company’s performance; however, such measures are not reliable indicators of the future performance of the Company and future performance may not compare to the performance in previous periods.

NAV per share is calculated as the applicable NPV10 (before or after-tax, as applicable) of the applicable reserves category minus estimated net debt, divided by the number of shares of Gran Tierra’s common stock issued and outstanding. Management uses NAV per share as a measure of the relative change of Gran Tierra’s net asset value over its outstanding common stock over a period of time.
FD&A costs are calculated as estimated exploration and development capital expenditures, including acquisitions and dispositions, divided by the applicable reserves additions both before and after changes in FDC costs. The calculation of FD&A costs incorporates the change in FDC required to bring proved undeveloped and developed reserves into production. The aggregate of the exploration and development costs incurred in the financial year and the changes during that year in estimated FDC may not reflect the total FD&A costs related to reserves additions for that year. Management uses FD&A costs per boe as a measure of its ability to execute its capital program and of its asset quality
Operating netback and cash netback are calculated as described in this press release. Management believes that operating netback and cash netback are useful supplemental measures for the reasons described in this press release.
Reserves replacement is calculated as reserves in the referenced category divided by estimated referenced production. Management uses this measure to determine the relative change of its reserves base over a period of time.

Disclosure of Reserve Information and Cautionary Note to U.S. Investors

Unless expressly stated otherwise, all estimates of proved developed producing, proved, probable and possible reserves and related future net revenue disclosed in this press release have been prepared in accordance with NI 51-101. Estimates of reserves and future net revenue made in accordance with NI 51-101 will differ from corresponding GAAP standardized measures prepared in accordance with applicable SEC rules and disclosure requirements of the U.S. Financial Accounting Standards Board (“FASB”), and those differences may be material. NI 51-101, for example, requires disclosure of reserves and related future net revenue estimates based on forecast prices and costs, whereas SEC and FASB standards require that reserves and related future net revenue be estimated using average prices for the previous 12 months and that the standardized measure reflect discounted future net income taxes related to the Company’s operations. In addition, NI 51-101 permits the presentation of reserves estimates on a “company gross” basis, representing Gran Tierra’s working interest share before deduction of royalties, whereas SEC and FASB standards require the presentation of net reserve estimates after the deduction of royalties and similar payments. There are also differences in the technical reserves estimation standards applicable under NI 51-101 and, pursuant thereto, the COGEH, and those applicable under SEC and FASB requirements.

In addition to being a reporting issuer in certain Canadian jurisdictions, Gran Tierra is a registrant with the SEC and subject to domestic issuer reporting requirements under U.S. federal securities law, including with respect to the disclosure of reserves and other oil and gas information in accordance with U.S. federal securities law and applicable SEC rules and regulations (collectively, “SEC requirements”). Disclosure of such information in accordance with SEC requirements is included in the Company’s Annual Report on Form 10-K and in other reports and materials filed with or furnished to the SEC and, as applicable, Canadian securities regulatory authorities. The SEC permits oil and gas companies that are subject to domestic issuer reporting requirements under U.S. federal securities law, in their filings with the SEC, to disclose only estimated proved, probable and possible reserves that meet the SEC’s definitions of such terms. Gran Tierra has disclosed estimated proved, probable and possible reserves in its filings with the SEC. In addition, Gran Tierra prepares its financial statements in accordance with United States generally accepted accounting principles, which require that the notes to its annual financial statements include supplementary disclosure in respect of the Company’s oil and gas activities, including estimates of its proved oil and gas reserves and a standardized measure of discounted future net cash flows relating to proved oil and gas reserve quantities. This supplementary financial statement disclosure is presented in accordance with FASB requirements, which align with corresponding SEC requirements concerning reserves estimation and reporting.

The Company believes that the presentation of NPV10 is useful to investors because it presents (i) relative monetary significance of its oil and natural gas properties regardless of tax structure and (ii) relative size and value of its reserves to other companies. The Company also uses this measure when assessing the potential return on investment related to its oil and natural gas properties. NPV10 and the standardized measure of discounted future net cash flows do not purport to present the fair value of the Company’s oil and gas reserves. The Company has not provided a reconciliation of NPV10 to the standardized measure of discounted future net cash flows because it is impracticable to do so.

The MIL Network –

February 25, 2025

MIL-OSI: Bitget Introduces Bank Deposits with Callpay Integration, Enabling ZAR Access for South African Users

Source: GlobeNewswire (MIL-OSI)

VICTORIA, Seychelles, Feb. 24, 2025 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange, and Web3 company, is pleased to announce its integration with Callpay, a trusted payment solutions provider, to offer deposit and withdrawal services in South African Rand (ZAR). This integration marks a significant step in Bitget’s mission to enhance accessibility and streamline fiat-to-crypto transactions for users in South Africa and beyond.

The collaboration with Callpay enables Bitget users to seamlessly deposit and withdraw ZAR, providing a secure and efficient gateway for South African traders to transact in the crypto market. This integration reflects Bitget’s ongoing efforts to expand its fiat offerings and cater to underserved markets, ensuring users worldwide can access digital assets with ease.

“Our partnership with Callpay underscores our commitment to making crypto trading more accessible and user-friendly,” said Gracy Chen, CEO at Bitget. “By integrating ZAR deposits and withdrawals, we are empowering South African users with a reliable and convenient way to participate in the global crypto economy.”

Bitget’s integration with Callpay offers several advantages, including instant fiat-to-crypto conversions, zero deposit fees during the promotional period, and a seamless user experience. To celebrate this integration, Bitget is launching an exclusive campaign, offering users up to 25% BGB rebates on ZAR-to-crypto conversions.

The promotion runs from February 24th, 18:00 PM to March 10th, 18:00 PM UTC+8. Participants can register for the campaign by completing identity verification, making a ZAR deposit via Callpay, and converting ZAR to crypto to earn rebates. A total promotion pool of 50,000 BGB will be distributed on a first-come, first-served basis, with each eligible user receiving up to 25% rebates, capped at a maximum of 20 BGB per user.

For detailed instructions on how to deposit ZAR via Callpay, users can visit here.

About Bitget

Bitget is a leading cryptocurrency exchange and Web3 company serving over 100 million users across 150+ countries and regions. The platform offers innovative trading solutions, including copy trading, and provides real-time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Bitget Wallet, a world-class multi-chain crypto wallet, offers comprehensive Web3 solutions, including token swaps, NFT marketplaces, and DApp browsing.

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The MIL Network –

February 25, 2025
MIL-OSI Africa: Mergers and Acquisitions (M&As) Reflect Growing Global Interest in African Mining

Source: Africa Press Organisation – English (2) – Report:

CAPE TOWN, South Africa, February 24, 2025/APO Group/ —

International mining stakeholders are increasing their access to Africa’s mineral resources through joint ventures, acquisitions and stakes in local projects. Meanwhile, African countries and operators are leveraging these partnerships to enhance capital, accelerate project development and meet ambitious production targets.

The upcoming African Mining Week (AMW), taking place in Cape Town this October, will spotlight mergers and acquisitions (M&A), offering African projects a platform to showcase opportunities and providing global investors the stage to present growth strategies for Africa’s expanding mining sector.

Recent research by the Economist Intelligence Unit indicates that foreign investment in Africa’s mining industry is poised for significant growth in 2025, building on strong momentum established in 2024. Several key transactions highlight this trend. Earlier this month, UK-based Altona Rare Earths finalized its acquisition of an 85% stake in Botswana’s Sesana Copper-Silver Project from Ignate Minerals, committing significant capital to accelerate exploration and mine development. In December 2024, Australian mining firm Patriot Lithium acquired a 90% stake in Zambia’s Kitumba Copper Large Scale Exploration License from Newlight Nominees Zambia, enabling increased funding for exploration and production activities. Similarly, in October 2024, Jubilee Metals, a UK-based company, acquired Project G, its second open-pit copper asset in Zambia, as part of a strategy to boost investments and raise copper output to 25,000 tons per year.

Recent M&A activity in Africa’s mining sector is reshaping the industry, improving operational efficiencies and creating new pathways for innovation and technology transfer. For African nations, these investments bring new opportunities for job creation, infrastructure development and access to global markets, fueling economic growth. Additionally, the influx of foreign capital and expertise enhances local capabilities, enabling African countries to harness their natural resources more effectively while addressing challenges like underdeveloped supply chains and limited financing for exploration.

In South Africa, M&A activity reached $10 billion between June 2023 and 2024, with 32 deals closed, compared to 24 year-on-year, according to PwC. Among the notable deals, Kenya’s Marula Mining secured a 51% stake in South Africa’s Mansera Kruisrivier Cobalt Holding Company in July 2024, funding feasibility and aerial studies to advance the project. Meanwhile, China’s Baowu Steel Group acquired stakes in Guinea’s Simandou Project, the world’s largest untapped iron ore deposit, in June 2024. In Mali, Ganfeng Lithium secured an operational stake in the Goulamina Lithium Mine in a $342.7-million deal with Australia’s Leo Lithium in May 2024. The UAE-based International Resource Holdings also entered the market, acquiring Zambia’s Mopani Copper Mines for $1.1 billion in May 2024, enhancing exploration and production capabilities at one of the country’s largest copper facilities.

As African nations focus on boosting mineral production to drive economic growth, M&A activity is expected to intensify, with global partners seeking greater stakes in the continent’s abundant resources. Against this backdrop, the upcoming AMW will play a crucial role in shaping Africa’s M&A landscape by facilitating project showcases, fostering partnerships and advancing deal signings that will define the future of the mining sector.

African Mining Week serves as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energy 2025 conference (https://AECWeek.com/) from October 1 -3. in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@energycapitalpower.com

MIL OSI Africa –

February 25, 2025

Category: Finance

February 21, 2025

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