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Category: Finance

  • MIL-OSI Russia: February achievements of athletes from GUU

    Translartion. Region: Russians Fedetion –

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

    We haven’t reported anything about the achievements of athletes from the State University of Management for a long time, we are correcting the situation.

    Hockey

    The new 2025 year has started off stunningly for the GUU hockey team! GUUSI won three out of three games in the regular tournament of the Moscow Student Hockey League of the XXXVII Moscow Student Sports Games. The teams of MADI, EMERCOM and the Financial University were defeated (8:4, 15:2, 6:3, respectively). The atmosphere at all the games was simply incredible. The team showed excellent preparation, demonstrating strength and coherence in each attack.

    We wish you to continue in the same spirit and strive for new victories! And to help our guys morally, we invite you to their next game, which will take place on February 15 at 18:15 at the Yuzhny Led arena at the address: ul. Marshal Savitsky, 7. GUSI will play against the RANEPA team.

    Basketball

    On February 2, the GUU women’s basketball team defeated the Eagles Team with a score of 70:64. The game was held in the WBL LOV Division of the Amateur Basketball League – ABL.

    Volleyball

    On February 11, the women’s team of the State University of Management confidently beat the team from Moscow University of Finance and Law with a score of 3:1. The game was held as part of the 2nd stage of the XXXVII Moscow Student Sports Games.

    eSports

    On February 9, a friendly tournament “Battle of Universities” was held in the Tekken 8 competitive program. The following universities took part in the competition: GUU, Plekhanov Russian University of Economics, RANEPA, MAI, MSU, HSE. Our team of cyber athletes took 8th place out of 16 possible. This is the golden mean, and we know that many more victories await us ahead.

    We wish all our athletes good luck and high results in future tournaments!

    Subscribe to the TG channel “Our GUU” Date of publication: 02/13/2025

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

    MIL OSI Russia News –

  • MIL-OSI: Notice of the Annual General Meeting of Nokia Corporation

    Source: GlobeNewswire (MIL-OSI)

    Nokia Corporation
    Stock Exchange Release
    13 February 2025 at 15:00 EET

    Notice of the Annual General Meeting of Nokia Corporation

    Notice is given to the shareholders of Nokia Corporation (“Nokia” or the “Company”) of the Annual General Meeting to be held on Tuesday, 29 April 2025 at 13:00 EEST at Finlandia Hall, Mannerheimintie 13e, Helsinki, Finland.

    The reception of persons who have registered for the Meeting and the distribution of voting tickets will commence at 12:00 noon EEST. After the Meeting coffee will be served.

    Shareholders can also exercise their voting rights by voting in advance. Instructions for advance voting are presented in this notice under section C.

    Shareholders may follow the Annual General Meeting through a webcast. Following the webcast is not considered participation or exercise of shareholders’ rights in the Meeting. Instructions regarding the webcast are available in this notice under section C. and later on the Company’s website at www.nokia.com/agm2025.

    A. Matters on the agenda of the Annual General Meeting

    At the Annual General Meeting, the following matters will be considered:

    1. Opening of the Meeting

    2. Matters of order for the Meeting

    3. Election of a person to scrutinize the minutes and a person to supervise the counting of votes

    4. Recording the legal convening of the Meeting

    5. Recording the attendance at the Meeting and adoption of the list of votes

    6. Presentation of the Annual Accounts, the review by the Board of Directors and the auditor’s report for the financial year 2024

    – Review by the President and CEO and presenting the auditor’s report and the assurance report of the sustainability statement

    7. Adoption of the Annual Accounts

    8. Resolution on the use of profit shown on the balance sheet and authorization of the Board of Directors to decide on the distribution of dividend and assets from the reserve for invested unrestricted equity

    The Board of Directors proposes to the Annual General Meeting that based on the balance sheet to be adopted for the financial year ended on 31 December 2024, no dividend is distributed by a resolution of the Annual General Meeting. Instead, the Board proposes to be authorized to resolve in its discretion on the distribution of an aggregate maximum of EUR 0.14 per share as dividend from the retained earnings and/or as assets from the reserve for invested unrestricted equity.

    The authorization would be used to distribute dividend and/or assets from the reserve for invested unrestricted equity in four installments during the period of validity of the authorization unless the Board of Directors decides otherwise for a justified reason. The authorization would be valid until the opening of the next Annual General Meeting. The Board would make separate resolutions on the amount and timing of each distribution of the dividend and/or assets from the reserve for invested unrestricted equity so that the preliminary record and payment dates will be as set out below. The Company shall make a separate announcement of each such Board resolution.

    Preliminary record dates Preliminary payment dates
    5 May 2025 12 May 2025
    29 July 2025 7 August 2025
    28 October 2025 6 November 2025
    3 February 2026 12 February 2026

    Each installment based on the resolution of the Board of Directors will be paid to a shareholder registered in the Company’s shareholders’ register maintained by Euroclear Finland Oy on the record date of the payment.

    9. Resolution on the discharge of the members of the Board of Directors and the President and CEO from liability for the financial year 2024

    10. Presentation and adoption of the Remuneration Report

    The Remuneration Report 2024 will be available on the Company’s website at www.nokia.com/agm2025 on week 11 of 2025. The Remuneration Report is presented to the AGM and adopted through an advisory resolution.

    11. Presentation and adoption of the Remuneration Policy

    The Board of Directors proposes that the Annual General Meeting shall adopt the updated Remuneration Policy. The updated Remuneration Policy is available on the Company’s website at www.nokia.com/agm2025 as of today and published as an attachment to this notice. The Remuneration Policy is adopted through an advisory resolution.

    12. Resolution on the remuneration of the members of the Board of Directors

    On the recommendation of the Corporate Governance and Nomination Committee, the Board proposes to the Annual General Meeting that the annual fees payable to Board members for a term ending at the close of the next Annual General Meeting are kept at the current levels:

    • EUR 440 000 for the Chair of the Board;
    • EUR 210 000 for the Vice Chair of the Board;
    • EUR 185 000 for each member of the Board;
    • EUR 30 000 each for the Chairs of the Audit Committee and the Personnel Committee and EUR 20 000 for the Chairs of the Technology Committee and the Strategy Committee as an additional annual fee; and
    • EUR 15 000 for each member of the Audit Committee and the Personnel Committee and EUR 10 000 for each member of the Technology Committee and the Strategy Committee as an additional annual fee.

    The Board proposes that approximately 40% of the annual fee be paid in Nokia shares. The rest of the annual fee would be paid in cash to cover taxes arising from the remuneration. The Directors shall retain until the end of their directorship such number of shares that they have received as Board remuneration during their first three years of service on the Board. If the term of a Board member terminates before the Annual General Meeting of 2026, the Board has a right to decide upon potential reclaim of the annual fees as it deems appropriate.

    In addition, the Board proposes that the meeting fees for Board and Committee meetings remain at their current level. The meeting fees are based on travel required between the Board member’s home location and the location of a meeting and paid for a maximum of seven meetings per term as follows:

    • EUR 5 000 per meeting requiring intercontinental travel; and
    • EUR 2 000 per meeting requiring intracontinental travel.

    Only one meeting fee is paid if the travel entitling to the fee includes several meetings of the Board and the Committees. Moreover, it is proposed that members of the Board shall be compensated for travel and accommodation expenses as well as other costs directly related to Board and Committee work.

    13. Resolution on the number of members of the Board of Directors

    On the recommendation of the Corporate Governance and Nomination Committee, the Board proposes to the Annual General Meeting that the number of Board members be ten (10). However, should any number of the candidates proposed by the Board not be available for election to the Board, the proposed number of Board members shall be decreased accordingly.

    14. Election of members of the Board of Directors

    On the recommendation of the Corporate Governance and Nomination Committee, the Board proposes to the Annual General Meeting that for a term until the close of the next Annual General Meeting, the following persons are elected as Board members in an individual election:

    1)    Timo Ahopelto (current member);
    2)    Sari Baldauf (current member, Chair);
    3)    Elizabeth Crain (current member);
    4)    Thomas Dannenfeldt (current member);
    5)    Pernille Erenbjerg (new member candidate);
    6)    Lisa Hook (current member);
    7)    Timo Ihamuotila (new member candidate);
    8)    Mike McNamara (current member);
    9)    Thomas Saueressig (current member); and
    10)    Kai Öistämö (current member).

    The biographical details of all Board member candidates are presented on the Company’s website at www.nokia.com/agm2025.

    The Corporate Governance and Nomination Committee has assessed that the proposed Board members enable the efficient functioning of the Board and are qualified both collectively and individually based on their skills, experience and other personal qualities, taking into account the diversity principles established by the Board as well as the current and anticipated future needs of the Company.

    All proposed Board members have given their consent to be elected to the Board and been determined to be independent of Nokia and its significant shareholders under the Finnish Corporate Governance Code and the rules of the New York Stock Exchange, as applicable.

    The Corporate Governance and Nomination Committee intends to propose in the assembly meeting of the new Board of Directors to be held after the Annual General Meeting that Sari Baldauf be re-elected as Chair of the Board and Timo Ihamuotila be elected as Vice Chair, subject to their election to the Board.

    15. Resolution on the remuneration of the auditor

    On the recommendation of the Audit Committee, the Board of Directors proposes to the Annual General Meeting that the auditor to be elected for the financial year 2026 be reimbursed based on the purchase policy approved by the Board’s Audit Committee and the invoice approved by the Company.

    16. Election of auditor for the financial year 2026

    The Board of Directors proposes to the Annual General Meeting that the shareholders would elect the auditor for the financial year commencing next after the election. On the recommendation of the Audit Committee, the Board of Directors proposes to the Annual General Meeting that Deloitte Oy be re-elected as the auditor of the Company for the financial year 2026.

    Deloitte Oy has informed the Company that the key audit partner would be Authorized Public Accountant Jukka Vattulainen.

    17. Resolution on the remuneration of the sustainability reporting assurer

    On the recommendation of the Audit Committee, the Board of Directors proposes to the Annual General Meeting that the assurer of the sustainability reporting elected for financial year 2026 be reimbursed based on the purchase policy approved by the Board’s Audit Committee and the invoice approved by the Company.

    18. Election of the sustainability reporting assurer for the financial year 2026

    The Board of Directors proposes to the Annual General Meeting that the shareholders would elect the assurer carrying out the assurance of the sustainability reporting for the financial year commencing next after the election. On the recommendation of the Audit Committee, the Board of Directors proposes to the Annual General Meeting that Authorized Sustainability Audit Firm Deloitte Oy be re-elected as the sustainability reporting assurer for the financial year 2026.

    Deloitte Oy has informed the Company that in the event it is elected, the key sustainability partner will be Authorized Public Accountant (KHT) and Authorized Sustainability Auditor (KRT) Jukka Vattulainen.

    19. Authorization to the Board of Directors to resolve to repurchase the Company’s own shares

    The Board of Directors proposes that the Annual General Meeting authorize the Board of Directors to resolve to repurchase a maximum of 530 million shares, which corresponds to less than 10% of the Company’s total number of shares. The repurchases under the authorization are proposed to be carried out by using funds in the unrestricted equity, as resolved by the Board of Directors, which means that the repurchases will reduce the distributable funds of the Company.

    The price paid for the shares under the authorization shall be based on the market price of the Nokia shares on the securities markets on the date of the repurchase or a price otherwise formed in a competitive process. Shares may be repurchased to be cancelled, held to be reissued, transferred further or for other purposes resolved by the Board of Directors. The Company may enter into derivative, share lending or other arrangements customary in capital market practice. The shares may be repurchased otherwise than in proportion to the shares held by the shareholders (directed repurchase). The Board shall resolve on all other matters related to the repurchase of Nokia shares.

    It is proposed that the authorization be effective until 28 October 2026 and terminate the authorization for repurchasing the Company’s shares granted by the Annual General Meeting on 3 April 2024 to the extent that the Board has not previously resolved to repurchase shares based on such authorization.

    20. Authorization to the Board of Directors to resolve to issue shares and special rights entitling to shares

    The Board of Directors proposes that the Annual General Meeting authorize the Board of Directors to resolve to issue in total a maximum of 530 million shares through issuance of shares or special rights entitling to shares under Chapter 10, Section 1 of the Finnish Companies Act in one or more issues during the effective period of the authorization. The Board of Directors may issue either new shares or treasury shares held by the Company. The proposed maximum amount corresponds to less than 10% of the Company’s total number of shares.

    Shares and special rights entitling to shares may be issued in deviation from the shareholders’ pre-emptive rights within the limits set by law. The authorization may be used to develop the Company’s capital structure, diversify the shareholder base, finance or carry out acquisitions or other arrangements, settle the Company’s equity-based incentive plans or for other purposes resolved by the Board of Directors. The Board of Directors shall resolve on all terms and conditions of the issuance of shares and special rights entitling to shares under Chapter 10, Section 1 of the Finnish Companies Act.

    It is proposed that the authorization be effective until 28 October 2026 and terminate the authorization for issuance of shares and special rights entitling to shares resolved at the Annual General Meeting on 3 April 2024.

    21. Closing of the Meeting

    B. Documents of the Annual General Meeting

    This notice and all the proposals by the Board of Directors relating to the agenda of the Meeting, including the updated Remuneration Policy, are available on the Company’s website at www.nokia.com/agm2025. The Remuneration Report as well as the “Nokia in 2024” annual report, which includes the Company’s Annual Accounts, the review by the Board of Directors including the sustainability statement, the auditor’s report and the assurance report of the sustainability statement, are available on the above-mentioned website on week 11 of 2025. The proposals by the Board of Directors and all other meeting documents will be available also at the Meeting. The minutes of the Annual General Meeting will be available on the Company’s above-mentioned website at latest on 13 May 2025.

    C. Instructions for the participants of the Annual General Meeting

    1. The right to participate and registration

    Each shareholder who is registered on the record date of the Meeting on 15 April 2025, in the register of shareholders of the Company maintained by Euroclear Finland Oy, has the right to participate in the Annual General Meeting 2025. A shareholder, whose shares are registered on their Finnish book-entry account, is automatically registered in the register of shareholders of the Company. The shareholders who do not have a Finnish book-entry account, please refer to the section 4. Holders of nominee-registered shares or the section 5. Holders of American Depositary Receipts (ADR) for further instructions.

    The registration period for the Annual General Meeting commences on 11 March 2025 at 10:00 EET. A shareholder, with a Finnish book-entry account, who wishes to participate in the Annual General Meeting, must register for the Meeting by giving prior notice of attendance no later than on 22 April 2025 at 16:00 EEST by which time the registration needs to be received by the Company. Such notice of registration can be given:

    a)   through the Company’s website at www.nokia.com/agm2025

    Registration by natural persons requires strong electronic authentication. In connection with the online registration the shareholder may also authorize a proxy representative and vote in advance. Registration by legal persons as shareholders requires them to provide the business identification code and the number of their Finnish book-entry account. For further information, please refer to the section 3. Proxy representatives and powers of attorney.

    b)   by letter to Nokia Corporation, Register of Shareholders, P.O. Box 226, Fl-00045 NOKIA GROUP; or

    c)   by telephone to +358 20 770 6870 from Monday to Friday at 09:00 to 16:00 (Finnish time).

    In connection with the registration, a shareholder is required to notify their name, personal identification number / birth date or the relevant business identification code, address, telephone number, the name of a possible assistant and the name and the personal identification number/birth date of a possible proxy representative.

    2. Advance voting

    Shareholders with a Finnish book-entry account may vote in advance on certain items on the agenda of the Annual General Meeting through the Company’s website at www.nokia.com/agm2025, either in connection with their registration or separately.

    The advance voting will open on 11 March 2025 at 10:00 EET and end on 22 April 2025 at 16:00 EEST.

    For natural persons, voting in advance requires strong electronic authentication through personal online banking credentials or a mobile certificate.

    Legal entities voting in advance requires them to provide the business identification code and the number of their Finnish book-entry account. In case a legal entity uses the electronic Suomi.fi authorization service, strong electronic authentication of the authorized individual is required either with personal online banking credentials or a mobile certificate. For further information, please refer to the section 3. Proxy representatives and powers of attorney.

    A proposal subject to advance voting is considered to have been presented unchanged at the Annual General Meeting.

    Shareholders who have voted in advance who wish to exercise their right to ask questions, demand a vote at the Annual General Meeting or vote on a possible counterproposal under the Finnish Companies Act must participate in the Annual General Meeting at the meeting venue in person or by way of proxy representation.

    Further instructions relating to the advance voting will be later available on the Company’s website at www.nokia.com/agm2025.

    For holders of nominee-registered shares, please note that the voting is carried out via the account manager of their custodian. The account manager may cast votes on behalf of the holders of nominee-registered shares that they represent in accordance with the voting instructions provided by the holders of nominee-registered shares during the registration period for the nominee-registered shares.

    3. Proxy representatives and powers of attorney

    A shareholder may participate in the Annual General Meeting by proxy. A proxy representative shall produce a dated proxy authorization document or otherwise in a reliable manner demonstrate their right to represent the shareholder. Should a shareholder participate in the Meeting by means of several proxy representatives representing the shareholder with shares in different book-entry accounts, the shares by which each proxy representative represents the shareholder shall be identified in connection with the registration for the Meeting.

    Proxy authorization documents should be delivered by email to agm@nokia.com or by letter to Nokia Corporation, Register of Shareholders, P.O. Box 226, Fl-00045 NOKIA GROUP at the latest by 22 April 2025 at 16:00 EEST. In case the proxy document is sent as a copy, we kindly ask the authorized person to present the original document at the Meeting venue. In addition to the delivery of proxy documents the shareholder or their proxy shall separately register for the Annual General Meeting.

    A template for the proxy document is available on the company’s website at www.nokia.com/agm2025.

    Shareholders may also use the electronic Suomi.fi authorization service instead of the traditional proxy authorization document. In this case, the shareholder authorizes a representative in the Suomi.fi service by using the mandate theme “Representation at the General Meeting”. More information available at www.suomi.fi/e-authorizations.

    4. Holders of nominee-registered shares

    A holder of nominee-registered shares has the right to participate in the Annual General Meeting by virtue of such shares, based on which they on the record date of the Annual General Meeting, i.e. on 15 April 2025, would be entitled to be registered in the shareholders’ register of the Company held by Euroclear Finland Oy. The right to participate in the Meeting requires, in addition, that the shareholder on the basis of such shares has been registered into the temporary shareholders’ register held by Euroclear Finland Oy at the latest by 24 April 2025 by 14:00 EEST. As regards nominee-registered shares this constitutes due registration for the Annual General Meeting.

    A holder of nominee-registered shares is advised to request without delay necessary instructions regarding the temporary registration in the shareholders’ register of the Company, the issuing of proxy authorization documents and registration for the Annual General Meeting from their custodian bank.

    The account manager of the custodian bank shall temporarily register a holder of nominee-registered shares, who wants to participate in the Annual General Meeting, into the shareholders’ register of the Company, and if necessary, arrange advance voting on behalf of the holder of nominee-registered shares in accordance with their voting instructions at latest by the time stated above, 24 April 2025 at 14:00 EEST.

    In order to take into consideration possible voting instructions of a holder of nominee registered shares at the Annual General Meeting, it is required that the shareholder has registered and is present or represented at the Annual General Meeting.

    For the sake of clarity, it is noted that holders of nominee-registered shares cannot register for the Annual General Meeting on the Company’s website, but they must be registered by their custodians instead. Further information on these matters can also be found on the Company’s website www.nokia.com/agm2025.

    5. Holders of American Depositary Receipts (ADR)

    A holder of American Depositary Shares (ADR) intending to vote at the Meeting shall without delay notify the Depositary Bank of Nokia, Citibank, N.A., of their intention and shall comply with the instructions provided by Citibank, N.A.

    6. Other instructions and information

    Information on the General Meeting required by the Finnish Companies Act and the Securities Markets Act is available on the Company’s website at www.nokia.com/agm2025. Pursuant to Chapter 5, Section 25 of the Finnish Companies Act, a shareholder who has given prior notice of attendance and is present at the Annual General Meeting has the right to request information with respect to the matters to be considered at the Meeting.

    The shareholders, their representatives and possible assistants are required to prove their identity at the entrance. The personal data collected will only be used in connection with the identity authentications and necessary registrations at the Annual General Meeting and related to it. For more information, please refer to the privacy statement of the Annual General Meeting on the Company’s aforementioned website.

    The Meeting venue can be easily reached by public transportation connections. The shareholders are asked to note that parking is subject to a charge at the nearby parking facilities.

    The Meeting will be conducted primarily in Finnish, but some presentations, such as the review by the President and CEO, will be held in English. Simultaneous translation will be available into Finnish, English and Swedish.

    Shareholders may follow the Meeting via a webcast and ask questions on the agenda items during the AGM through the webcast platform. Following the webcast is not considered participation or exercise of shareholders’ rights in the Meeting. No questions asked through the webcast are deemed to be presented pursuant to Chapter 5, Section 25 of the Finnish Companies Act. The questions may be considered in the Annual General Meeting in connection with each agenda item to the extent deemed appropriate by the Chair of the Meeting. More information on following the webcast will be later available on the Company’s website at www.nokia.com/agm2025.

    Changes in the number of shares held after the record date of the Annual General Meeting shall not have an effect on the right to participate in the Meeting nor on the number of votes held by a shareholder in the Meeting.

    On the date of this notice of the Annual General Meeting the total number of shares in Nokia Corporation is 5 605 850 345, representing the same number of votes.

    13 February 2025

    Nokia Corporation
    BOARD OF DIRECTORS

    About Nokia
    At Nokia, we create technology that helps the world act together.

    As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs, which is celebrating 100 years of innovation.

    With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future.

    Inquiries:

    Nokia Communications
    Phone: +358 10 448 4900
    Email: press.services@nokia.com
    Maria Vaismaa, Global Head of External Communications

    Nokia Investor Relations
    Phone: +358 931 580 507
    Email: investor.relations@nokia.com

    Attachment

    The MIL Network –

  • MIL-OSI: GraniteShares launches new leveraged ETFs on Intel, Dell and Qualcomm

    Source: GlobeNewswire (MIL-OSI)

    GraniteShares 2x Long QCOM Daily ETF (QCML)

    GraniteShares 2x Long DELL Daily ETF (DLLL)

    GraniteShares 2x Long INTC Daily ETF (INTW)

    New York, New York, Feb. 13, 2025 (GLOBE NEWSWIRE) — GraniteShares launches another three leveraged single stock ETFs to its growing suite of funds. The ETFs provide investors leveraged exposure to Dell (DELL), Intel (INTC) and Qualcomm (QCOM).

    On February 13, 2025, GraniteShares introduces:

    • GraniteShares 2x Long QCOM Daily ETF (QCML)
    • GraniteShares 2x Long DELL Daily ETF (DLLL)
    • GraniteShares 2x Long INTC Daily ETF (INTW)

    Each of these funds is designed for those who are bullish on the artificial intelligence (AI) revolution and are looking for enhanced ways to trade Qualcomm, Dell Technologies, and Intel. By leveraging their performance with a two-times multiplier, investors have an opportunity to amplify gains or losses on upward or downward movements.

    GraniteShares continues to be a pioneer in the leveraged single-stock ETFs space. This launch expands its offerings significantly to twenty three short and leveraged single stock ETFs.

    Link to Prospectus: https://graniteshares.com/media/iyrbedwg/graniteshares-etf-trust-s-l-single-stock-etfs-prospectus.pdf

    What Makes These ETFs Unique?

    These three new ETFs represent the first leveraged single stock ETFs on these names. Leveraged single stock ETFs have proved themselves to be popular with investors as they can be bought and sold from ordinary brokerage accounts. Although the ETFs are leveraged, there are no margin calls for investors and investors control when to buy or sell. Many leveraged single stock ETFs have an active options ecosystem allowing for futher ways to trade around the underlying stock.

    YieldBoost: https://graniteshares.com/institutional/us/en-us/etfs/tsyy/

    Graniteshares recently entered the options income space with an innovative new offering called YieldBoost. The first ETF in the YieldBoost offering; GraniteShares YieldBoost TSLA (TSYY) is an ETF that sells put options to generate income for investors. TSYY made its first distribution in late January and as at Feb 7th, 2025 has an annualized yield of 35.11%, a 30-Day SEC Yield of -3.03%, & 7.9% Total Return in Just Over a Month as of January 31, 2025!

    About GraniteShares:

    GraniteShares is a global investment firm dedicated to creating and managing ETFs. Headquartered in New York City, GraniteShares provides products on U.S., U.K, German, French & Italian stock exchanges. The firm is a market leader in leveraged single-stock ETFs and provides innovative, cutting-edge investment solutions for the high conviction investor.

    Founded in 2016, GraniteShares is an ETF provider focused on providing innovative, cutting-edge alternative investment solutions. Its U.S. ETF offerings include a broad-based commodity index fund, physically backed gold and platinum funds and a high-income pass-through securities index fund.

    GraniteShares also offers a suite of leveraged single stock ETFs, including those targeting NVIDIA, Coinbase and Tesla. The company has over $9 billion in assets under management as of February 6th, 2025.

    For complete information about GraniteShares YieldBOOST ETF, please visit:
    https://graniteshares.com/institutional/us/en-us/

    Media Contact:

    GraniteShares Inc.
    Attn: Media Relations
    222 Broadway, 21 Floor,
    New York, NY, 10038
    844-476-8747
    info@graniteshares.com

    RISK FACTORS AND IMPORTANT INFORMATION

    This material must be preceded or accompanied by a Prospectus. Carefully consider the Fund’s investment objectives, risk factors, charges and expenses before investing. Please read the prospectus before investing.

    The Fund is not suitable for all investors. The investment program of the funds is speculative, entails substantial risks and include asset classes and investment techniques not employed by most ETFs and mutual funds. Investments in the ETFs are not bank deposits and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.The Fund is designed to be utilized only by knowledgeable investors who understand the potential consequences of seeking daily leveraged (2X) investment results, understand the risks associated with the use of leverage and are willing to monitor their portfolios frequently. For periods longer than a single day, the Fund will lose money if the Underlying Stock’s performance is flat, and it is possible that the Fund will lose money even if the Underlying Stock’s performance increases over a period longer than a single day. An investor could lose the full principal value of his/her investment within a single day.

    The Fund seeks daily leveraged investment results and is intended to be used as short-term trading vehicles. This Fund attempts to provide daily investment results that correspond to the respective long leveraged multiple of the performance of its underlying stock (a Leverage Long Fund).

    Investors should note that such Leverage Long Fund pursues daily leveraged investment objectives, which means that the Fund is riskier than alternatives that do not use leverage because the Fund magnifies the performance of its underlying stock. The volatility of the underlying security may affect a Funds’ return as much as, or more than, the return of the underlying security.

    Because of daily rebalancing and the compounding of each day’s return over time, the return of the Fund for periods longer than a single day will be the result of each day’s returns compounded over the period, which will very likely differ from 200% of the return of the Underlying Stock over the same period. The Fund will lose money if the Underlying Stock’s performance is flat over time, and as a result of daily rebalancing, the Underlying Stock volatility and the effects of compounding, it is even possible that the Fund will lose money over time while the Underlying Stock’s performance increases over a period longer than a single day.

    Shares are bought and sold at market price (not NAV) and are not individually redeemed from the ETF. There can be no guarantee that an active trading market for ETF shares will develop or be maintained, or that their listing will continue or remain unchanged. Buying or selling ETF shares on an exchange may require the payment of brokerage commissions and frequent trading may incur brokerage costs that detract significantly from investment returns.

    An investment in the Fund involves risk, including the possible loss of principal. The Fund is non-diversified and includes risks associated with the Fund concentrating its investments in a particular industry, sector, or geographic region which can result in increased volatility. The use of derivatives such as futures contracts and swaps are subject to market risks that may cause their price to fluctuate over time. Risks of the Fund include Effects of Compounding and Market Volatility Risk, Leverage Risk, Market Risk, Counterparty Risk, Rebalancing Risk, Intra-Day Investment Risk, Other Investment Companies (including ETFs) Risk, and risks specific to the securities of the Underlying Stock and the sector in which it operates. These and other risks can be found in the prospectus.

    This information is not an offer to sell or a solicitation of an offer to buy shares of any Funds to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. Please consult your tax advisor about the tax consequences of an investment in Fund shares, including the possible application of foreign, state, and local tax laws. You could lose money by investing in the ETFs. There can be no assurance that the investment objective of the Funds will be achieved. None of the Funds should be relied upon as a complete investment program.

    The MIL Network –

  • MIL-OSI: Locafy Introduces Localizer, a Powerful Solution to Boost Local Search Visibility and Drive Partner-Led Growth

    Source: GlobeNewswire (MIL-OSI)

    • Recurring revenue growth from partners exceeds $35,000 per month after a few weeks
    • $25,000 in monthly cost reductions anticipated after converting salaried sales staff to Partners program
    • Scalable-location based digital marketing solution appeals to multi-location businesses

    PERTH, Australia, Feb. 13, 2025 (GLOBE NEWSWIRE) — Locafy Limited (Nasdaq: LCFY, LCFYW) (“Locafy” or the “Company”), a globally recognized leader in location based digital marketing solutions, with market leading SEO capabilities, today announced the launch of Localizer, a powerful solution designed to help businesses improve their online visibility and rank higher in local search results.

    With 46% of Google searches seeking local products and services, businesses absent from Page 1 search results miss substantial revenue opportunities. While traditional SEO approaches demand significant time and resources, Localizer provides an innovative, scalable solution to enhance local search visibility—at a fraction of the time and cost.

    “The majority of organic traffic to local businesses websites comes through Google’s Local Pack or via organic search results – our Localizer product delivers local search prominence and visibility in both,” said Locafy CEO Gavin Burnett.

    Transition to a Partner-Led Model
    As part of Locafy’s broader strategic shift, the Company is transitioning its resellers into its partner program “Partners,” where partners manage the client relationship. At the same time, Locafy oversees technology service delivery and maintains the billing relationship. This model fosters a more scalable approach while empowering partners to grow their businesses with Locafy’s innovative solutions without having to worry about service delivery.

    Additionally, key salespeople of the Company have transitioned from salaried positions to partners, further reducing fixed costs while creating a direct incentive to drive revenue. This shift has already begun yielding results, with Locafy’s new partners generating over $35,000 in new monthly recurring revenue and a strong pipeline of additional opportunities. At the same time, cost reductions in direct sales staff of more than $25,000 per month will come into full effect in the June quarter.

    Localizer: A Smarter Approach to Local SEO
    Locafy’s Localizer is a turnkey local SEO solution that accelerates businesses’ search rankings by optimizing their presence across multiple digital touchpoints. The four-step approach includes:

    • Syndicating Business Listings – Distributing consistent, authoritative business profiles across 120+ directories, apps, maps, and voice search platforms
    • Deploying Optimized Landing Pages – Creating independent, high-ranking web pages that target valuable local keywords without modifying existing business websites
    • Enhancing Google Business Profile Visibility – Optimizing GBP and applying SEO technology to boost Local Pack rankings, where nearly 44% of mobile search clicks occur
    • Publishing Relevant Articles – Producing high-quality content that targets key search intent categories to increase brand authority and organic search prominence

    The Localizer product is at the forefront of Partners as Locafy winds down older product versions, focusing on a standard location-based digital marketing solution with articles available as an add-on module. The combination of listings, landing pages and local pack covers all the search query intent of consumers – transactional, navigational, commercial and information. Each component provides the opportunity for online visibility depending on the search intent of the consumer.

    Scalable Solutions for Multi-Location Businesses
    Locafy anticipates strong demand for Localizer, particularly among larger, multi-location businesses. The platform provides a comprehensive, cost-efficient digital marketing solution that can be deployed at scale, helping brands improve their local search performance while ensuring consistency across multiple locations.

    “With Localizer, we’re not only offering a cutting-edge location based digital marketing solution but also redefining how businesses engage with digital marketing and SEO through our partner program, Partners,” added Burnett. “By aligning incentives and streamlining service delivery, we are positioning Locafy for accelerated growth while empowering our partners to succeed.”

    “We’ve only just started with the transition process and we believe it has yielded great results so far. We aim to get across all existing resellers by the end of the March quarter and complete the transition process by then.”

    For more information about Locafy’s technology, including educational blogs and case studies, please visit Locafy’s investor relations website at investor.locafy.com.

    About Locafy
    Locafy (Nasdaq: LCFY, LCFYW) is a globally recognized software-as-a-service technology company specializing in local search engine marketing. Founded in 2009, Locafy’s mission is to revolutionize the US$700 billion SEO sector. We help businesses and brands increase search engine relevance and prominence in a specific proximity using a fast, easy, and automated approach. For more information, please visit www.locafy.com.

    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 “subject to”, “believe,” “anticipate,” “plan,” “expect,” “intend,” “estimate,” “project,” “may,” “will,” “should,” “would,” “could,” “can,” the negatives thereof, variations thereon and similar expressions, or by discussions of strategy, although not all forward-looking statements contain these words. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, they do involve assumptions, risks, and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s filings with the Securities and Exchange Commission (the “SEC”), including the Company’s Annual Report on Form 20-F, filed with the SEC on November 12, 2024, as amended, and available on its website (www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

    Investor Relations Contact
    Matt Glover
    Gateway Group, Inc.
    (949) 574-3860
    LCFY@gateway-grp.com 

    The MIL Network –

  • MIL-OSI: 1m Launches Risk Intelligence Network to Help Healthcare Providers Respond to Federal Policy Changes

    Source: GlobeNewswire (MIL-OSI)

    Initiative equips providers with critical data and intelligence to navigate shifting federal policies on healthcare funding, reimbursement and eligibility

    More than fifteen health systems engaged in the first week

    NEW YORK, Feb. 13, 2025 (GLOBE NEWSWIRE) — 1m, a data and analytics technology company serving the risk management needs of healthcare organizations, today announced the launch of a national standardized risk assessment to help healthcare providers stay ahead of critical changes in federal healthcare policy. The initiative will include leading healthcare providers across the country to provide an objective and data-based analysis of emerging risks and their potential impact. More than fifteen health systems are already engaged and preparing to participate.

    The assessment will be made available to participating healthcare providers. Interested parties can contact intelligence@1mplatform.com to inquire about participating.

    “Health systems are scrambling to assess the flurry of policy shifts and emerging risks independently,” said Chris Giuliano, co-CEO and CTO of 1m. “We’ve seen this reactive cycle before—in response to COVID-19, cybersecurity threats, and inflation. It’s time to break the cycle. This intelligence network will standardize risk assessments and help providers align on responsive strategies.”

    1m will survey a consortium of health systems to create an anonymized national healthcare risk dataset. That data will be used to create standardized reports and executive-ready guidance for risk managers, business leaders and boards. The initial assessments will focus on the recent policy changes proposed by Congress and the new administration, and their potential impact on providers, e.g.:

    • Medicaid funding cuts and eligibility requirements
    • Medicare funding cuts and drug pricing negotiations
    • Reductions related to the Affordable Care Act (ACA)
    • Inflationary pressures as a result of new tariffs
    • Cuts in funding for public health agencies
    • Impact of immigration policy on staffing

    All participating health systems will have access to the in-depth, data-driven outputs, including:

    • Consensus risk assessments
    • Information on risk quantification methods
    • Benchmarking insights showing the distribution of responses across peer organizations
    • A catalog of common mitigation strategies for each risk
    • Highlighted expert insights summarizing the most valuable qualitative feedback
    • Executive and Board-ready presentations summarizing results
    • The option for 1m to customize the results for their organization

    The initial survey will be conducted during the month of February, with results available to participating organizations in early March.  

    1m recently raised a Series A financing, announced in December 2024, which included participation from five leading healthcare systems.

    About 1m

    1m is a data and analytics technology company serving large healthcare organizations through a B2B SaaS model. Led by former Goldman Sachs healthcare investment bankers Jeff Ellis and Chris Giuliano, 1m is setting the standard for risk management in healthcare, with an end-to-end risk management solution designed for Enterprise Risk, Internal Audit, Compliance, and Finance teams. The platform leverages robust data, analytics and monitoring tools that integrate seamlessly into existing risk management workflows to deliver timely, high-ROI decision support.

    For more information, visit https://www.1mplatform.com/.

    The MIL Network –

  • MIL-OSI: Magnite to Participate in the Susquehanna Financial Group 14th Annual Technology Conference

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Feb. 13, 2025 (GLOBE NEWSWIRE) — Magnite (Nasdaq: MGNI), the largest independent sell-side advertising company, today announced that members of its executive team will host in-person investor meetings at the Susquehanna Financial Group 14th Annual Technology Conference in New York City on Thursday, February 27, 2025.

    About Magnite

    We’re Magnite (NASDAQ: MGNI), the world’s largest independent sell-side advertising company. Publishers use our technology to monetize their content across all screens and formats including CTV, online video, display, and audio. The world’s leading agencies and brands trust our platform to access brand-safe, high-quality ad inventory and execute billions of advertising transactions each month. Anchored in bustling New York City, sunny Los Angeles, mile high Denver, historic London, colorful Singapore and down under in Sydney, Magnite has offices across North America, EMEA, LATAM, and APAC.

    Investor Relations Contact
    Nick Kormeluk, 949-500-0003
    nkormeluk@magnite.com

    The MIL Network –

  • MIL-OSI: Flirting with Fraud: Why Sextortion Is the Most Devastating Dating Scam

    Source: GlobeNewswire (MIL-OSI)

    RESTON, Va., Feb. 13, 2025 (GLOBE NEWSWIRE) — Sextortion has emerged as one of the most dangerous forms of romance scams, preying on online daters and, tragically, claiming the lives of teenagers. Fraudsters use fake profiles to lure victims into sharing intimate content, only to threaten exposure unless a ransom is paid. Regula, a global developer of identity verification (IDV) solutions, shares a vision of how social media and dating platforms can strengthen protections to safeguard users.

    Romance scams come in many forms, exploiting trust and emotional vulnerability to defraud victims. Their common tactics include:

    • Catfishing: Scammers create fake identities to build trust and manipulate victims.
    • Military Scams: Fraudsters pose as deployed soldiers seeking financial assistance.
    • Inheritance Scams: Victims are deceived with false claims of large inheritances requiring upfront fees.
    • Pig-Butchering (Crypto Investment) Scams: Scammers feign romantic interest to lure victims into fraudulent investment schemes.

    However, according to reports from leading child safety organizations, including the National Center for Missing and Exploited Children (NCMEC) and Thorn, sextortion is one of the most severe threats, with cases surging at an alarming rate. The FBI reported over 12,000 complaints in 2023 alone, resulting in millions in financial losses, severe psychological trauma, and, in some cases, even fatalities. Younger users and those new to online dating are particularly vulnerable.

    Common sextortion tactics include:

    • Fake Identities: Scammers pose as attractive singles, influencers, or even celebrities to build quick trust.
    • Rapid Escalation: Conversations quickly shift from introductions to intimate exchanges.
    • Blackmail Threats: Once explicit content is shared, scammers demand money, cryptocurrency, or further compromising images under the threat of exposure.
    • AI-Driven Deception: Some scams leverage deepfake videos or AI-powered chatbots to manipulate victims.

    The Role of Identity Verification in Preventing Sextortion

    Sextortion thrives in environments where fake profiles and anonymity enable bad actors to operate freely. Social media and dating platforms play a critical role in combating this threat—through proactive moderation, AI-powered content monitoring, and user education. Stronger identity verification during registration is also a valuable tool in this arsenal, but it must be implemented thoughtfully, balancing fraud prevention with user privacy and accessibility.

    Different online platforms use varying levels of verification, ranging from strongest to weakest:

    1. ID & Biometric Verification – Matching government-issued IDs with real-time selfies for authentication.
    2. Real-Time Selfies Without ID Validation – Confirming a live presence but without a verified identity document.
    3. Basic Checks – Verification through phone numbers, email, or linked social media accounts.
    4. Self-Reported Identity Without Validation – The least secure method, relying solely on user-provided information.

    How Biometric and ID Verification Strengthens Security:

    • Eliminating Fake Profiles: Biometric checks make it significantly harder for scammers to create fake accounts.
    • Anti-Spoofing Technology: Prevents impersonation by detecting fraudulent attempts using photos or masks.
    • Liveness Detection: Confirms a real person is present, preventing AI-generated deception.

    “When faced with strong verification measures, scammers don’t simply disappear—they move to less secure platforms where they can continue their schemes unchecked. Standardizing biometric ID verification across multiple platforms would make it significantly harder for them to do so, creating a safer ecosystem across social media, dating apps, and other online services.” – Jan Stepnov, Identity Verification Expert at Regula.

    Empowering Users to Stay Safe

    While platforms must take stronger security measures, users can also protect themselves by:

    • Being Cautious of Fast-Moving Relationships: Avoid engaging in intimate exchanges early in conversations.
    • Interacting with Verified Users: Prioritize connections with verified profiles.
    • Reporting Suspicious Activity: Flagging blackmail attempts and scam behavior.
    • Never Paying Ransoms: Complying with extortion often leads to further threats.

    For more insights on how identity verification is transforming online dating security, visit Regula’s blog.

    About Regula
    Regula is a global developer of forensic devices and identity verification solutions. With our 30+ years of experience in forensic research and the most comprehensive library of document templates in the world, we create breakthrough technologies for document and biometric verification. Our hardware and software solutions allow over 1,000 organizations and 80 border control authorities globally to provide top-notch client service without compromising safety, security, or speed. Regula has been repeatedly named a Representative Vendor in the Gartner® Market Guide for Identity Verification. Learn more at www.regulaforensics.com.

    Contact:
    Kristina – ks@regulaforensics.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8d16b999-71c6-46ed-a789-1848992ac0a1

    The MIL Network –

  • MIL-OSI: red violet to Announce Fourth Quarter and Full Year 2024 Financial Results on February 27, 2025

    Source: GlobeNewswire (MIL-OSI)

    BOCA RATON, Fla., Feb. 13, 2025 (GLOBE NEWSWIRE) — Red Violet, Inc. (NASDAQ: RDVT), a leading analytics and information solutions provider, announced today that it will report its financial results for the fourth quarter and full year ended December 31, 2024 after the close of the U.S. financial markets on Thursday, February 27, 2025.

    The Company will host its earnings call on Thursday, February 27, 2025 at 4:30pm ET to discuss its quarterly and full year results and provide a business update.

    The participant registration and webcast information are listed below. The earnings call will be simultaneously webcast on the Investors section of the red violet website at www.redviolet.com. Please login at least 15 minutes prior to the start of the call to ensure adequate time for any downloads that may be required.

    Please note participants must register to receive their unique dial-in number credentials. A general dial-in number will not be provided.

    PARTICIPANT REGISTRATION & WEBCAST INFORMATION
    WHEN: THURSDAY, FEBRUARY 27, 2025 at 4:30pm ET
    Participant Registration:  Click Here
    Webcast URL:  Click Here

    Following the completion of the earnings call, an archived webcast of the earnings call will be available on the Investors section of the red violet website at www.redviolet.com.

    About red violet®

    At red violet, we build proprietary technologies and apply analytical capabilities to deliver identity intelligence. Our technology powers critical solutions, which empower organizations to operate with confidence. Our solutions enable the real-time identification and location of people, businesses, assets and their interrelationships. These solutions are used for purposes including identity verification, risk mitigation, due diligence, fraud detection and prevention, regulatory compliance, and customer acquisition. Our intelligent platform, CORE™, is purpose-built for the enterprise, yet flexible enough for organizations of all sizes, bringing clarity to massive datasets by transforming data into intelligence. Our solutions are used today to enable frictionless commerce, to ensure safety, and to reduce fraud and the concomitant expense borne by society. For more information, please visit www.redviolet.com.

    Company Contact:
    Camilo Ramirez
    Red Violet, Inc.
    561-757-4500
    ir@redviolet.com

    Investor Relations Contact:
    Steven Hooser
    Three Part Advisors
    214-872-2710
    ir@redviolet.com

    The MIL Network –

  • MIL-OSI: WhiteBIT Freezes Over $150M: How the Exchange is Fighting Crypto Crime

    Source: GlobeNewswire (MIL-OSI)

    VILNIUS, Lithuania, Feb. 13, 2025 (GLOBE NEWSWIRE) — WhiteBIT cryptocurrency exchange announced today that it has successfully secured over $150 million in at-risk cryptocurrency funds in 2024, further solidifying WhiteBIT’s role as a key partner in the fight against digital crime.

    According to the Chainalysis 2024 Crypto Crime Report, stolen crypto funds reached $2.2 billion globally, a 21.07% increase from the previous year. The number of hacking incidents rose from 282 in 2023 to 303 over the same period, reflecting an ongoing challenge for the industry in preventing and addressing security breaches.

    High-Profile Recoveries

    WhiteBIT’s efforts have been central to resolving several significant cases involving stolen crypto assets. As a result of these efforts, the company has safeguarded $4.8 million in stolen funds.

    The exchange successfully secured funds tied to XRP in an investigation involving Ripple co-founder Chris Larsen. In response to the Coinspaid breach, WhiteBIT froze significant amounts of cryptocurrency, helping to mitigate losses for the affected users. Additionally, the exchange acted swiftly during the TAO Holder case, identified by blockchain investigator ZachXBT, blocking a large sum of USDC and supporting law enforcement efforts in their recovery process.

    In April, cryptocurrency exchange Rain.com fell victim to a $16 million hack orchestrated by the North Korean hacking group Lazarus. Investigators collaborating with the FBI traced $760,000 in stolen SOL to WhiteBIT. In September, WhiteBIT had successfully returned the funds to the FBI pursuant to a Court Order, further aiding in the recovery process.

    Anti-Money Laundering Practices 

    WhiteBIT is dedicated to collaborating with law enforcement agencies globally to enhance security and protect users from fraudulent activities. The team places a strong emphasis on transparency and streamlined communication, ensuring that law enforcement can easily connect when needed.

    “Our approach goes beyond standard AML practices,” stated a representative from WhiteBIT’s Compliance department. “We leverage OSINT (Open-Source Intelligence) to uncover suspicious activities meticulously, utilize custom-built monitoring systems to detect and halt fraudulent transactions, and conduct manual investigations to ensure detailed and accurate assessments of flagged cases.”

    Insights on Cybercrime in 2024

    According to experts from WhiteBIT’s Compliance Department, the most common types of incidents on the exchange are as follows:

    1. Hacking of wallets through technical means—such as phishing, viruses, keyloggers, and direct hacking—accounts for 40% of the incidents on the exchange;
    2. Social engineering scams: Another 40% is attributed to scams involving promises of easy investment returns, often disguised as legitimate opportunities. They typically involve sophisticated tactics, including fake websites and multiple individuals interacting with victims to build trust;
    3. Scrolling scams: 10% of victims are lured through crypto-related Telegram channels. Initially, they make small profits, which leads to repeated investments, but eventually, the scammers disappear with the funds;
    4. The remaining 10% of incidents involve fake versions of the WhiteBIT website and compromised accounts.

    WhiteBIT’s Compliance department representative explains: “Weak passwords and lack of two-factor authentication (2FA) significantly increase the risk of compromising the accounts. At WhiteBIT, we mitigate these risks by storing 96% of funds in cold wallets, enforcing 2FA, and securing private keys with advanced encryption protocols.”

    Security Standards

    WhiteBIT is ranked among the top 5 most secure crypto exchanges globally by CER.live and is the first crypto exchange to achieve the CCSS Level 3 certification—the highest security standard in the crypto industry at the moment. This distinction underscores the exchange’s proactive efforts to safeguard users and assets against increasingly sophisticated cyber threats.

    WhiteBIT remains at the forefront of crypto security, combining innovation, compliance, and swift action to tackle emerging threats. In a year marked by record-breaking crypto crime, WhiteBIT’s efforts have not only safeguarded millions but also set a benchmark for the entire industry.

    About WhiteBIT

    WhiteBIT is the second largest exchange globally by traffic, offering over 700 trading pairs, 330 assets, and supporting 9 fiat currencies. Founded in 2018, the platform is a part of WhiteBIT Group that serves more than 35 million customers worldwide. WhiteBIT collaborates with Visa, FACEIT, FC Barcelona, and the Ukrainian National Football team. WhiteBIT is among the five most secure crypto exchanges according to CER.live and is the first and only crypto exchange to achieve the CCSS Level 3 certification — the highest cryptocurrency security standard in the industry to date. The company is dedicated to driving the widespread adoption of blockchain technology worldwide.

    This material does not pertain solely to the company’s European transactions but applies to the activities of all WhiteBIT Group companies globally.

    Contact
    WhiteBIT
    pr@whitebit.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e47ba98c-787c-4782-97d1-09ac56e68207

    The MIL Network –

  • MIL-OSI: Arbitral tribunal appointed for the arbitration proceedings concerning the redemption of minority shares in Innofactor Plc

    Source: GlobeNewswire (MIL-OSI)

    Innofactor Plc | Stock Exchange Release | February 13, 2025 at 14:50 EET

    Arbitral tribunal appointed for the arbitration proceedings concerning the redemption of minority shares in Innofactor Plc

    As previously announced, Onni Bidco Oy (“Onni Bidco”) has, by submitting an application to the Redemption Board of the Finland Chamber of Commerce dated December 2, 2024, commenced redemption proceedings in respect of Innofactor Plc’s (“Innofactor”) minority shares by initiating arbitration proceedings in accordance with Chapter 18, Section 3 of the Finnish Companies Act in order to obtain ownership of all the issued and outstanding shares in Innofactor. Onni Bidco served its application to appoint an arbitral tribunal and to initiate arbitration proceedings in accordance with Chapter 18, Section 5 of the Finnish Companies Act on January 7, 2025.

    Onni Bidco has today been informed that the Redemption Board of the Finland Chamber of Commerce has appointed an arbitral tribunal consisting of three members for the arbitration proceedings concerning the redemption of the minority shares in Innofactor. The arbitral tribunal consists of Independent Arbitrator Heidi Merikalla-Teir (chair), Professor Emeritus, LL.D., Trained on the bench Raimo Immonen and D.Sc. (Econ.), CVA Harri Seppänen.

    Investor and media enquiries:

    Veera Vitie (Innofactor), ir@innofactor.com, +358 44 331 0207
    Lasse Lautsuo (Innofactor), ir@innofactor.com, +358 50 480 1597

    Distribution:
    NASDAQ Helsinki
    Main media
    www.innofactor.com

    ABOUT INNOFACTOR

    Innofactor is the leading promoter of the modern digital organization in the Nordic countries for its approximately 1,000 customers in the commercial and public sectors. Innofactor has the widest solution offering and leading know-how in the Microsoft ecosystem in the Nordics. Innofactor’s offering includes planning services for business-critical IT solutions, project deliveries, implementation support and maintenance services, as well as own software and services. Innofactor employs nearly 600 experts in Finland, Sweden, Denmark and Norway. Innofactor’s shares are listed on Nasdaq Helsinki with the ticker symbol IFA1V.

    The MIL Network –

  • MIL-OSI Economics: Envisioning Tomorrow: The Role of CBDCs in Europe’s Digital Financial Ecosystem | Frankfurt Digital Finance Conference

    Source: Bundesbank

    Check against delivery.

    1 Introduction

    Good morning ladies and gentlemen and thank you very much for your warm welcome.

    I am honoured to have been invited back to this year’s Frankfurt Digital Finance Conference in this wonderful building here in Frankfurt’s Palmengarten and to have been asked to hold a keynote to kick off today’s event.

    Allow me to begin my keynote this morning with a quote attributed to Oscar Wilde: The future belongs to those who recognise opportunities before they become obvious. These words, ladies and gentlemen, could not be any better suited to our financial ecosystem. 

    And it is precisely opportunities that I wish to address in my keynote today – the opportunities provided by central bank digital currencies, or CBDCs for short. A subject that is as timely as it is significant.

    2 The future is digital

    We are at the cusp of a new era. One in which the digitalisation of the financial sector is not just an option but a necessity. New technologies are venturing into the realm of payments and new forms of money, such as digital central bank currencies and stablecoins, are also emerging as alternatives to physical cash.

    These developments all pose new challenges for central banks. Ultimately, central banks must continue to ensure secure and efficient payments in line with their mandate and redefine their role in an increasingly digitalised world in order to maintain the public’s trust in our monetary system.

    The question that we therefore now face is: how do we respond to these technological challenges?

    And that is precisely why we in the Eurosystem – by that I mean the European Central Bank and the national central banks of the euro-area member states, including the Bundesbank – are taking a proactive approach to actively help shape the future of Europe’s digital financial ecosystem.

    3 What are we aiming to achieve with the introduction of a digital euro?

    One could argue that the Eurosystem already offers enough sufficiently well-functioning products, be it physical banknotes and coins or cashless payment instruments. After all, these have proven their worth for decades. Yet at the same time, we cannot simply ignore the evolving world around us. In an increasingly digitalised society, we must adapt to the changing needs and demands of consumers and rethink our payment services. 

    Let me outline the three key motivations behind the possible introduction of a retail CBDC in Europe – a digital euro, which we sometimes like to summarise as resilience, autonomy and efficiency.

    Let me first start with resilience. The foundation of an independent and efficient monetary policy is the adoption and use of the euro. By providing our common currency – the euro – in its form as legal tender and as a modern “all-in-one” digital payment solution, we are paving the way for our currency to enter the digital age, making it “future-proof” and fit for purpose in an increasingly digital society.

    The digital euro would thereby help to preserve the euro’s fulfilment of the core monetary functions and shield the euro area from competing foreign currencies as well as foreign – and potentially unregulated – stablecoins by safeguarding the anchor function of central bank money.

    Second, the digital euro is necessary to improve the autonomy of the European payment system. In its current form, the European payments landscape is highly dependent on non-European providers. Almost 25 years after the introduction of the euro, we still do not have a digital payment solution that can be used across the entire euro area and that runs on a European infrastructure, which, in my view, is not compatible with the concept of a single European market. Although a small number of successful payment innovations have emerged across the euro area over the past years, such as iDEAL in the Netherlands or BIZUM in Spain, the reach of these payment solutions usually ends at national borders.

    As a result, payments in Europe are largely dependent on international schemes, primarily those in the United States. At present, just under two thirds of all card payments in the euro area are processed by non-European providers. And I believe that Europe’s dependencies in the digital age are likely to increase if we do not fundamentally take matters into our own hands. 

    Third, is the issue of efficiency. By creating a pan-European payment rail in a technically modern form, we would foster competition and innovation in payments across Europe, which we believe is the best path towards efficiency in payments. The payment initiatives we have today, such as BIZUM or WERO, would be able to integrate the digital euro into their payment applications, thereby enabling them to gain instant European reach.

    4 What would a digital euro be for the common citizen?

    Although the issues I have just touched upon are very important, they are not necessarily of primarily relevance for the daily life of a majority of citizens in Europe. Hence, what would the digital euro be from the perspective of the customer?

    I believe that the digital euro would not just be a commitment to Europe’s autonomy, increase the resilience of our payment system and foster competition and innovation, it would also improve payments and make life easier for the 350 million residents of the euro area.

    The digital euro would serve as an additional means of payment alongside cash. As a digital upgrade of banknotes and coins, it would be an “all-in-one payments solution”, as we like to call it, which means it can be used in almost all everyday payment situations, including at retail checkouts, transactions among family and friends, online purchases, and payments to or from public authorities. Furthermore, it would be the first digital currency which could be used both online and offline. That is to say, also in the event of a loss of internet reception.

    Moreover, the design of the digital euro would ensure that it would offer the highest possible level of user privacy, comparable only to cash. No other digital means of payment in Europe currently offers all these features.

    Despite the many benefits the digital euro would bring for Europe as a whole, we must, nevertheless, proceed with caution. The introduction of a digital euro raises important questions about privacy, security, and the impact on financial stability and monetary policy. We must ensure that the digital euro upholds the highest standards of data protection, that it is resilient against cyber threats, and that it does not have a negative impact on financial stability.

    5 Wholesale CBDC

    Digitalisation raises questions not only in terms of how we intend to continue providing access to central bank money for our European citizens in future, but also in terms of how we intend to supply money to our wholesale customers. It is and will remain essential that we are able to settle digital transactions using new and innovative technologies, such as distributed ledger technology (DLT) in central bank money. An entire ecosystem is currently evolving around the tokenisation of securities, which involves all parts of the financial system.

    Like other financial players, the Bundesbank, and also the Eurosystem as a whole, see the significant benefits that the use of these new technologies can bring. The advantages of DLT, such as automated settlement by means of smart contracts and reduced reconciliation needs, are clear.

    But to fully harness this potential, we also need an innovative settlement mechanism for the cash leg – one which settles transactions in central bank money. We are therefore working on developing wholesale solutions that enable banks to settle DLT–based financial market transactions in central bank money. 

    The Eurosystem recently completed an exploration phase together with the market, which ran from May to November 2024, during which we tested various new technologies for wholesale central bank money settlement using real transactions. The Bundesbank also participated in this exploration phase with its “Trigger solution”, which builds a bridge between DLT platforms and the conventional TARGET payment system. The feedback we have received from the market so far has been very positive. I think we can already say that the exploration phase was a complete success.

    The anticipated benefits of DLT are seen as having the potential to address and overcome the ecosystem’s current shortcomings, such as fragmentation, complexity, over-intermediation, and technological inefficiencies, which hinder the growth of a digital capital markets union. 

    By developing a new ecosystem from the ground up, it could be made more integrated and harmonised, featuring a “common set of rails” – a shared ledger or a network of fully interoperable ledgers – that would guarantee reachability, open access, and compatibility across the services of all participants.

    Our primary focus is now on implementing a short-term wholesale solution to meet the immediate and growing demands of the market. This will buy us some much-needed time to continue working on a vision for a long-term solution for wholesale CBDC. A solution which must ultimately go hand in hand with the evolving financial market ecosystem.

    6 Business-to-business (B2B) payments

    Alongside its work into the possible introduction of a digital euro and the exploration of wholesale CBDC, the ECB, together with the Eurosystem, has also been turning its focus to another area of payments – one which is increasingly gaining traction: business-to-business payments, or B2B payments for short.

    To fully leverage the potential of the evolving payments landscape in the area of CBDCs, last October the ECB organised a special focus workshop on innovations in B2B payments and the role central bank money could play. 

    This workshop provided a one-of-a-kind platform to learn more about the potential use cases out there in the market. Given the high level of interest shown in the first focus workshop, I’m sure this will not be the last one of its kind.

    7 Outlook

    Ladies and gentlemen,

    The introduction of the digital euro and the exploration of wholesale CBDC and B2B use cases are not just a technical exercise, but a clear commitment to the innovative strength and competitiveness of Europe.

    The Bundesbank and the Eurosystem are determined to play an active role in shaping this digital transformation.

    It is, however, crucial that we continue working together and pool our resources and expertise in order to fully exploit the opportunities offered by digitalisation to create a strong, stable and future-proof digital financial ecosystem for Europe.

    Thank you for your attention.

    MIL OSI Economics –

  • MIL-OSI United Kingdom: Business Secretary sets out ambition for further, faster growth

    Source: United Kingdom – Government Statements

    Business Secretary Jonathan Reynolds spoke at Samsung KX in London on 13 February 2025.

    Good morning, and thank you very much for that warm introduction, Alan, and my sincere thanks to the whole team here at Samsung for so generously hosting us, today. 

    It’s actually quite emotional to be honest, it would have been someone like my grandfather who dug out that coal, sent it down here, and a few generations later I get to be on this stage doing this.

    But Samsung is a company synonymous with the best in cutting-edge design and innovation;  and much of it is on full display here within these four walls. 

    It is a fitting venue to discuss this government’s ambition to go further and faster in our growth mission…ensuring that your investments that you outlined here in the UK pay dividends. 

    Three years ago, I gave my first speech as the then Shadow Business Secretary – and I promised we would be both a pro-business and a pro-worker party…  

    …A party rooted not just in the experience of working people, but which recognises, above all else, that you cannot rebuild an economy without a flourishing private sector; backed by an unapologetically pro-business government.  

    I committed to partnering with you in making our offer to the country one you could get behind.  

    And you gave us the ideas, energy and, in some cases, explicit support that was needed to win a strong majority and an even stronger mandate from the British people. A mandate to deliver our Plan for Change.  

    Today, I want to reflect on the progress that we have made as a government. I want to talk candidly about what I believe we need to do; 

    …And I want to provide a clear direction, some reassurance and – I hope – some excitement and optimism about the future.  

    Now I am extremely proud of the work that my department has done in the first seven months of this Government.  

    That includes our record-breaking International Investment Summit…where we secured £63bn of inward investment commitments for the UK… 

    …that was where we published our Industrial Strategy Green Paper… 

    …and where we launched our Industrial Strategy Council expertly led by Clare Barclay. I’m so glad Clare could join us ahead of the council’s meeting later today.  

    Building on from the investment summit, at Davos last month, the Chancellor and I sent a clear message to the international community: that the UK is a great place to invest and do business. We have the lowest corporation tax in the G7, uncapped R&D tax credits, and 100% full expensing on capital allowances.  

    And ahead of our Trade Strategy’s publication, we are leveraging our relationships with Europe, China, India and the Gulf and beyond so businesses can make the UK their base to connect with global markets.  

    And this is important, because in response to the announcements made by the US this week, I want to reiterate that under this government, the UK will always champion free, fair and open trade. That is what is in our national interest. 

    And where we have seen the opportunity for an active government to bring business and workers together, my department has always been on the pitch… 

    …Whether that’s securing a better deal for the workforce at Port Talbot

    …engaging on the takeover of Royal Mail…  

    …Or the renegotiated deal that saw Navantia acquiring Harland and Wolff and protect 1,000 jobs at shipyards across the UK. I will always roll up my sleeves and get involved.

    But – being candid – none of this work in itself is sufficient, if it does not lead across the board to improved business confidence, to greater investment, and to higher household income, in every part of the country. 

    And on that I, and the whole government, recognise the challenge, and we accept it. 

    In the Budget the government had a responsibility to fix the foundations and restore economic stability.  

    And while I recognise that the Budget capped corporation tax, extended capital allowances, and raised the employment allowance threshold from this April, I know it asked a great deal of business. I don’t underestimate that for a second.  

    We will never take that contribution – your contribution – for granted. 

    You are playing your part in fixing this country, in stabilising the public finances, in investing in our people and helping us rebuild our crumbling infrastructure.   

    And we know it is imperative that therefore we clear the path for the private sector to thrive… that we deliver the right conditions for growth.  

    It’s why, on top of the £100 billion of investment unveiled at the Budget, this Government has thrown its full support behind a third runway at Heathrow. 

    It’s why we’re making the Oxford Cambridge growth corridor a success with the right transport and public services to foster growth. 

    It’s why through our expanded Office for Investment and the National Wealth Fund we will be supporting transformative investments throughout the country from West Yorkshire to the West Midlands, and Glasgow and Greater Manchester. 

    The challenges we face as government make all the things we promised to do even more critical.  

    And I relish that. 

    And I don’t believe there are easy answers to complex problems. 

    But I do believe that good policy, good strategies, and good government working hand-in-hand with the private sector, can make a difference. 

    And I want my constituents to feel, and to be, better off. 

    And only a pragmatic, business-orientated government can deliver that. 

    And that to me is what being pro-worker, and pro-business means. 

    And I believe this national UK Government is able to deliver on this mission because, fundamentally, we can offer what no-one else can:  

    First of all, political stability – sadly, a rare commodity in many countries these days. 

    Secondly, openness to the rest of the world – at a time where that is clearly coming under pressure. 

    And most importantly of all, we are offering a willingness to use our mandate in Parliament to transform the business and investor environment. 

    And we are using our Industrial Strategy to ensure that our policies are made with business, for business. 

    As you know, in October last year, we consulted on our Industrial Strategy Green Paper; our blueprint to channel investment and support into our country’s high-growth sectors and high potential places. 

    In that green paper, we posed a series of questions, and you answered in great detail. You told us that you need access to a high-skilled workforce.  

    And that is why we have launched Skills England, bringing in flexibilities for the Growth and Skills levy, allowing for shorter apprenticeships and giving employers more control over training. 

    Meanwhile our Great Britain Working White Paper has already set out detailed plans to support people back into work.  

    And for key sectors such as AI and life sciences, we’ve committed to looking at visa routes for the most highly skilled, ensuring those routes continue to work for the UK. The upcoming Immigration White Paper will set out plans to make our immigration, skills, and visa systems work better and more coherently.   

    You told us that planning has become a by-word for inefficiency.   

    So, we’re making it quicker and simpler for developers to build on brownfield land. 

    We’re making it much easier to build laboratories, gigafactories, data centres, and digital network grid connections.  

    And we’re preventing campaigners from repeatedly launching hopeless legal challenges against planning decisions.   

    You have also told us that access to capital needs drastic improvement.  

    Here again we’re listening and we’re responding. That is why the Government is creating pension megafunds, unlocking billions of pounds of investment. At the same time, we’re delivering on Lord Hill’s Listing Review to allow the FCA to rewrite the UK’s Prospectus Regime for faster fund-raising.

    And, finally, you told us that we need a ‘regulation reset’ in this country.  

    Day in, day out I hear from business leaders who say to me that regulation and regulators are too cumbersome.  

    They’re too slow.  

    They’re too focused on theoretical issues, with little understanding of how businesses and markets actually operate. 

    And I’ve heard that message loud and clear.  

    One of our foremost regulators, the Competition and Markets Authority, has recently made great strides in addressing some of these issues. 

    And today, my department is publishing a consultation on a new Strategic Steer for the CMA to accelerate this work.  

    This isn’t about meaningless platitudes – about the ‘cutting of red tape.’  

    It’s about effective consumer protection, competition law and digital market powers so that we create a level-playing field for businesses to compete on. We need to address genuine harm done by those who are not playing by the rules.  

    Our Strategic Steer asks the CMA to minimise uncertainty for business – by being proactive, transparent, timely, predictable and responsive in its engagement.  

    And I know, under Sarah Cardell and the new Interim Chair, Doug Gurr, the CMA has already taken significant steps in adopting this approach…in always having growth and investment in mind.  

    Its extensive work around the merger of Vodafone and Three is a fantastic example of that…as is the CMA’s launch of a Growth and Investment Council to identify opportunities for greater competition.  

    And there is more to come. 

    I know Sarah and the CMA have set out their plans to deliver real, meaningful reforms to the merger control processes already today. Its eyes are trained firmly on more direct engagement with businesses. On speeding up its decision-making to deliver more certainty for investors. On adopting a faster, more agile approach to protecting competition.  

    I fully endorse these measures because this Government believes in effective, independent institutions. In promoting competition and protecting competition – that is fundamental to our growth mission. And with the current CMA team in place, we want to support them every step of the way in the changes they’re making.  

    I want to see that same level of ambition from our other regulators because right now, I don’t think our regulatory environment is doing enough to drive investor confidence and support growth.  

    So, I’m taking this first step today but watch this space.  

    I’m serious about delivering our wider regulatory reform over the coming weeks and months… 

    …I’m also serious about building the pro-innovation, pro-worker, pro wealth creation economy that we promised at the general election. I know you in the room share that commitment, too. 

    I’m proud of the reforms that we’ve set out in the Employment Rights Bill – of the opportunities they will afford working class families and working-class communities like the one I grew up in.  

    I want everyone to benefit from the stronger economy I know we can have.

    But I always said, however, that we would work with – and not against – business to deliver these generational reforms.  

    I said that we would never introduce changes that would make it harder for firms to hire with confidence.  

    And this is precisely why my department is consulting on many of the key aspects of our Make Work Pay reforms – not least on probationary periods.  

    I want a statutory probation period that lets businesses get a good sense of how new employees are performing.  

    And it’s common sense to ensure that there are lighter touch standards for dismissal during those initial months of people starting a job. 

    I know how important this is for employers. And I get it.  

    It’s why my department will continue to engage face-to-face with business to develop a sensible, balanced proposal before we go out for formal consultation.  

    And we will also consult on the length of the statutory probation period, with our preference being 9 months.  

    We have also made clear that the changes we make to unfair dismissal will come into effect no sooner than the autumn of next year.  

    I want there to be a buffer – a proper, business readiness period – so employers fully understand the details of our reforms, and can prepare long before they enter into force.  

    That is the right thing to do – for both employers and employees.  

    So, let there be no doubt – we are still the party of business.  

    And we are willing to do the difficult things.  

    Be that a third runway at Heathrow, a step change at the CMA, or stopping endless court challenges over the job-creating projects this country needs. 

    We can share our ideas and ambition with each other. 

    Take the big bets.         

    Take some risks.

    Be the disruptors.

    My desire to be your champion in government has never wavered.  

    And it is as resolute now as ever. 

    We have to go further and faster in driving growth.  

    And, friends, together, I know that we will.   

    Thank you very much.

    Updates to this page

    Published 13 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI: Bitget’s Protection Fund Average Hits $648M in January 2025

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, Feb. 13, 2025 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange and Web3 company, has announced that its Protection Fund achieved a valuation of $648 million in January 2025, reflecting sustained growth and stability in the crypto market. The fund, designed to provide financial security for users during volatile market conditions, continues to demonstrate its resilience and importance as Bitcoin and other digital assets experience significant price movements.

    In January 2025, Bitget’s Protection Fund reached a peak valuation of $690 million, maintaining its upward trajectory as Bitcoin traded within a range of $87,000 to $105,000. Throughout January, the Protection Fund maintained an average valuation of approximately $648 million, playing its vital role as a reliable safeguard for user assets amid fluctuating market conditions.

    “The consistent growth of our Protection Fund aligns with our focus on advancing security and building user trust,” said Gracy Chen, CEO of Bitget. “As the crypto market evolves, we remain committed to providing a secure and transparent environment for our users, enabling them to navigate the market with confidence.”

    Launched in 2022 with an initial commitment of $300 million, the Protection Fund has grown steadily, offering users enhanced security during periods of market volatility. This latest valuation reflects Bitget’s robust risk management framework, which ensures the fund remains well-capitalized to protect user assets even during heightened market activity. The fund’s performance in January aligns with broader market trends, including increased institutional interest and regulatory developments that continue to shape the crypto landscape.

    In addition to the Protection Fund, Bitget’s Proof of Reserves maintains a 1:1 reserve ratio, further reinforcing transparency and trust. Recently Bitget was announced on the list of top trusted crypto platforms by Forbes. These initiatives collectively position Bitget as a leading exchange that prioritizes user security and confidence in an ever-changing market environment.

    For detailed Protection Fund and Proof of Reserves reports, visit here.

    About Bitget

    Established in 2018, Bitget is a leading cryptocurrency exchange and Web3 company, serving over 100 million users across 150+ countries and regions. The Bitget exchange is dedicated to empowering users with innovative trading solutions, including its pioneering copy trading feature, while providing 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 offering comprehensive Web3 solutions, including wallet functionality, token swaps, an NFT marketplace, and a DApp browser.

    Bitget continues to drive crypto adoption through strategic partnerships, including its role as the Official Crypto Partner of LALIGA in the EASTERN, SEA, and LATAM markets, as well as its collaboration with Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist), and İlkin Aydın (Volleyball national team). These partnerships aim to inspire global communities 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.

    Photos accompanying this announcement are available at:

    https://www.globenewswire.com/NewsRoom/AttachmentNg/d2b64ea6-fbca-44ae-9700-7e5940d7e572

    https://www.globenewswire.com/NewsRoom/AttachmentNg/57c8be45-47b5-4832-a5b8-4a0be2096c4e

    The MIL Network –

  • MIL-OSI: Abaxx Will Expand Battery Metals Product Suite with Launch of Lithium Carbonate Futures on March 7, 2025

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Feb. 13, 2025 (GLOBE NEWSWIRE) — Abaxx Technologies Inc. (CBOE:ABXX)(OTCQX:ABXXF) (“Abaxx” or the “Company”), a financial software and market infrastructure company, indirect majority shareholder of Abaxx Singapore Pte Ltd. (“Abaxx Singapore”), the owner of Abaxx Commodity Exchange and Clearinghouse (individually, “Abaxx Exchange” and “Abaxx Clearing”), and producer of the SmarterMarkets™ Podcast, today announced that it will be expanding its battery metals product suite with the launch of 3 regional physically-deliverable Lithium Carbonate futures on March 7, 2025.

    Abaxx Lithium Carbonate futures mark a significant development as the world’s first physically deliverable lithium carbonate contracts priced in US dollars. These new contracts provide market participants with standardized and globally accessible pricing benchmarks, better aligning trade flows with physical market realities. By introducing a reliable and transparent mechanism for price discovery, the contracts enhance participants’ ability to manage risk in an increasingly dynamic and critical market. Each regional contract is a US dollar-denominated, DAP contract representing 1 tonne of lithium carbonate and is deliverable at ports in either Singapore, Rotterdam, or Baltimore.

    “The launch of Abaxx’s Lithium Carbonate futures introduces much-needed, physically deliverable benchmarks that reflect real market conditions, providing traders with a precise hedging instrument and greater optionality in managing supply chains,” said Sacha Lifschitz, Director of Metals Markets at Abaxx Exchange. “With contracts deliverable in Singapore, Rotterdam, and Baltimore, we’re aligning with global trade flows to offer more effective risk management and price transparency in a rapidly evolving battery metals market.”

    About Abaxx Technologies
    Abaxx is building Smarter Markets — markets empowered by better financial technology and market infrastructure to address our biggest challenges, including the energy transition. In addition to developing and deploying financial technologies that make communication, trade, and transactions easier and more secure, Abaxx is an indirect majority-owner of subsidiaries Abaxx Exchange and Abaxx Clearing, recognized by MAS as a “recognised market operator” (RMO) and “approved clearing house” (ACH), respectively.

    Abaxx Exchange and Abaxx Clearing are a Singapore-based commodity futures exchange and clearinghouse, introducing centrally cleared, physically deliverable commodities futures and derivatives to provide better price discovery and risk management tools for the commodities critical to our transition to a lower-carbon economy.

    For more information please visit abaxx.tech, abaxx.exchange and smartermarkets.media.

    For more information about this press release, please contact:

    Steve Fray, CFO
    Tel: +1 647-490-1590

    Media and investor inquiries:

    Abaxx Technologies Inc.
    Investor Relations Team
    Tel: +1 246 271 0082
    E-mail: ir@abaxx.tech

    Cautionary Statement Regarding Forward-Looking Information

    This press release includes certain “forward-looking statements” which do not consist of historical facts. Forward-looking statements include estimates and statements that describe Abaxx’s future plans, objectives, or goals, including words to the effect that Abaxx expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “seeking”, “should”, “intend”, “predict”, “potential”, “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, “continue”, “plan” or the negative of these terms and similar expressions. Since forward-looking statements are based on current expectations and assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Abaxx, Abaxx does not provide any assurance that actual results will meet respective management expectations. Risks, uncertainties, assumptions, and other factors involved with forward-looking information could cause actual events, results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking information.

    Forward-looking information related to Abaxx in this press release includes, but is not limited to: Abaxx’s objectives, goals or future plans; completion and timing of the launch of its lithium carbonate contracts; benefits of the introduction of its lithium carbonate contracts; introduction of new battery materials products; and, positive impacts from the growth of global battery metal demand. Such factors impacting forward-looking information include, among others: risks relating to the global economic climate; dilution; Abaxx’s limited operating history; future capital needs and uncertainty of additional financing; the competitive nature of the industry; currency exchange risks; the need for Abaxx to manage its planned growth and expansion; the effects of product development and need for continued technology change; protection of proprietary rights; the effect of government regulation and compliance on Abaxx and the industry; acquiring and maintaining regulatory approvals for Abaxx’s products and operations; the ability to list Abaxx’s securities on stock exchanges in a timely fashion or at all; network security risks; the ability of Abaxx to maintain properly working systems; reliance on key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; and volatile securities markets impacting security pricing unrelated to operating performance. In addition, particular factors which could impact future results of the business of Abaxx include but are not limited to: operations in foreign jurisdictions, protection of intellectual property rights, contractual risk, third-party risk; clearinghouse risk, malicious actor risks, third- party software license risk, system failure risk, risk of technological change; dependence of technical infrastructure; and changes in the price of commodities, capital market conditions, restriction on labor and international travel and supply chains, and the risk factors identified in the Company’s most recent management discussion and analysis filed on SEDAR+. Abaxx has also assumed that no significant events occur outside of Abaxx’s normal course of business.

    Abaxx cautions that the foregoing list of material factors is not exhaustive. In addition, although Abaxx has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, or intended. When relying on forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Abaxx has assumed that the material factors referred to in the previous paragraphs will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The forward-looking statements and information contained in this press release represents the expectations of Abaxx as of the date of this press release and, accordingly, is subject to change after such date. Abaxx undertakes no obligation to update or revise any forward-looking statements and information, whether as a result of new information, future events or otherwise, except as required by law. Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements and information. Cboe Canada does not accept responsibility for the adequacy or accuracy of this press release.

    The MIL Network –

  • MIL-OSI: Bitget Lists Story Protocol (IP) with Exclusive Launchpool Rewards and Spot Trading

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, Feb. 13, 2025 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange and Web3 company, has announced the listing of Story Protocol (IP) on its platform, with trading available on the spot market and the launch of an exclusive Launchpool rewards campaign.

    Spot trading for IP will go live on 13 February 2025, 9:00 (UTC) under the IP/USDT pair, allowing users to trade the token seamlessly. In addition, the Launchpool campaign, starting from 13 February 2025, 12:00 (UTC) to 15 February 2025, 12:00 (UTC), will enable users to lock BGB and earn a share of 554,500 IP in rewards. Users can lock a maximum of 30,000 BGB while adhering to a minimum requirement of 5 BGB. Airdrops for both pools are calculated on an hourly basis, determined by each participant’s locked volume in relation to the total locked volume of the pool. This real-time distribution mechanism ensures fairness and transparency throughout the campaign.

    Story is a Layer1 Blockchain that empowers creators by enabling them to register their IP on-chain, ensuring control over their work while streamlining licensing and monetization processes. IP is the native cryptocurrency of Story’s ecosystem. This token is the key to securing the network, processing transactions, and allowing users to participate in governance decisions. With Story, from artists and scientists to businesses and AI developers can fairly and efficiently exchange IP without intermediaries.

    Bitget continues to solidify its role as a top-tier cryptocurrency exchange, offering over 800 listed tokens across spot and derivatives markets. The addition of IP to Launchpool highlights Bitget’s ongoing effort to support innovative projects that value and protect creators’ work in the digital future. Launchpool participants can stake specific tokens to unlock early access to IP, showcasing the platform’s commitment to delivering valuable assets and fostering active engagement.

    For more details on IP Launchpool, 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, users can visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet

    For media inquiries, users may 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/104236c4-8b97-45fc-9786-6da4fc56ceda

    The MIL Network –

  • MIL-OSI USA: Governor Newsom announces appointments 2.12.25

    Source: US State of California 2

    Feb 12, 2025

    Kate Hoit, of Sacramento, has been appointed Deputy Secretary of Communications at the California Department of Veterans Affairs. Hoit has been the PACT Act Enterprise Program Management Office Communications and Outreach Lead at the U.S. Department of Veterans Affairs since 2023. She was a Communications Lead in the Veteran Experience Office, U.S. Department of Veterans Affairs from 2021 to 2023. Hoit was the California State Director at the Vet Voice Foundation from 2018 to 2021. She was the Military Marketing Manager at National University from 2017 to 2018. Hoit was the Director of Content and Communications at Got Your 6 from 2014 to 2017. She was a Public Affairs Specialist at the U.S. Department of Veterans Affairs from 2011 to 2014. Hoit served in the U.S. Army Reserve from 2001 to 2009. She is a Pat Tillman Scholar and a member of the Truman National Security Project. She earned her Master of the Arts Degree in Non-Fiction Writing from Johns Hopkins University, and a Bachelor of the Arts in Journalism from the University at Albany, State University of New York. This position does not require Senate confirmation, and the compensation is $154,860. Hoit is a Democrat.

    Shaun Spillane, of Gold River, has been appointed Chief Deputy Inspector General at the Office of the Inspector General, where he has been Chief Counsel since 2023, and was Attorney IV from 2013 to 2023. Spillane was Labor Relations Counsel II at the California Department of Human Resources from 2009 to 2013. He was a Graduate Student Assistant in the Office of the Inspector General from 2007 to 2009. Spillane earned a Juris Doctor degree from the University of the Pacific, McGeorge School of Law and a Bachelor of Arts degree in Psychology from the University of Michigan. This position does not require Senate confirmation, and the compensation is $201,972. Spillane is registered without party preference.

    Michael “Mike” Detoy, of Hermosa Beach, has been appointed to the California Public Employees’ Retirement System Board of Administration. Detoy has been Councilmember and Mayor of the City of Hermosa Beach since 2019. He has been Fire Captain for the City of Riverside since 2011. Detoy is President of the Riverside City Firefighters Association. He earned a Master of Public Administration degree from California Baptist University and a Bachelor of Science degree in Finance from Santa Clara University. This position does not require Senate confirmation, and the compensation is $100 per diem. Detoy is a Democrat.

    Christopher Gonder, of Brawley, has been appointed to the Commission on Correctional Peace Officer Standards and Training. Gonder has been a Correctional Officer at the California Department of Corrections and Rehabilitation since 2016. He is the Vice President of the California Correctional Peace Officers Association, Calipatria Chapter and President of the Chicano Correctional Workers Association, Calipatria Chapter. This position does not require Senate confirmation, and there is no compensation. Gonder is registered without party preference.

    Hellen Hong, of Los Angeles, has been reappointed to the Civil Rights Council, where she has served since 2021. Hong has been Chief Executive Officer at CalBar Connect since 2020. She was the Director at the Office of Access and Inclusion at the State Bar of California from 2019 to 2020. Hong held multiple executive positions at First Place for Youth from 2014 to 2019. She was the Executive Director of the Los Angeles Center for Law and Justice from 2007 to 2014. Hong was a Public Interest Attorney from 2004 to 2007. She was Assistant Director of State Government Relations at the University of California from 2002 to 2004. Hong earned her Juris Doctor degree from Loyola Law School. This position requires Senate confirmation, and the compensation is $100 per diem. Hong is a Democrat

    Hugh Crooks, of Los Angeles, has been reappointed to the California Veterans Board, where he has served since 2017. Crooks was a Human Resources Operations Manager at the Los Angeles County Registrar-Recorder/County Clerk from 2000 to 2005. Crooks was Head of Administrative and Facility Services at the Los Angeles County Museum of Natural History from 1991 to 2000. He was Safety Police Chief III for the Protective Services Division at the Los Angeles County Safety Police from 1969 to 1991. Crooks was a Rifleman in the U.S. Army from 1967 to 1969. He is a member of the Veterans of Foreign Wars, 9th Infantry Division Society, and the Los Angeles County Sheriff’s Advisory Group. Crooks was a National Executive Committeeman and Chief Financial Officer of the American Legion, Department of California. This position requires Senate confirmation, and the compensation is $100 per diem. Crooks is a Democrat. 

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    Feb 11, 2025

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    Feb 11, 2025

    News What you need to know: Governor Gavin Newsom issued an executive order today ordering the state to ensure that childcare providers impacted by the recent wildfires in Los Angeles are aware of their potential eligibility for Disaster Unemployment Assistance and…

    MIL OSI USA News –

  • MIL-OSI: Twelve Capital and Securis complete merger to create a leader in Insurance-Linked Securities (ILS)

    Source: GlobeNewswire (MIL-OSI)

    ZURICH and LONDON, Feb. 13, 2025 (GLOBE NEWSWIRE) — Twelve Capital and Securis Investment Partners have completed the final steps of the merger, establishing Twelve Securis as a global leader in the field of Insurance-Linked Securities (ILS). This strategic move unites a wealth of expertise, complementary skill sets, and a shared dedication to innovation in insurance investment.

    With USD 8.5 billion in assets under management, Twelve Securis is strategically positioned to expand investment opportunities in catastrophe bonds, private ILS, and broader insurance markets. With a strong focus on performance generation under rigid investment governance, the firm will continue to pioneer investment solutions by integrating proprietary catastrophe risk models with market-leading technology. Its research-driven approach and strong structuring expertise ensure cost-effective, transparent investment vehicles that meet the evolving needs of institutional investors.

    Urs Ramseier, CEO of Twelve Securis, commented: “This merger marks a new era for insurance-linked investments. By bringing together two highly experienced teams with a shared vision, we are strengthening our ability to deliver outstanding investment solutions to our global client base and create long-term value for them.”

    Cyrus Jilla, Chairman of Twelve Securis, said: “We are excited about the creation of Twelve Securis. The firm is strategically positioned to capitalise on new opportunities in the evolving insurance and ILS landscape, leveraging its scale, expertise, and client-centric approach.”

    The transition has been carefully structured to ensure continuity for clients and employees. Twelve Securis remains committed to independence and delivering best-in-class service as it enters this next phase of growth.

    For further information please contact Twelve Securis at:

    +41 44 5000 120
    Kathrin Verbeck
    info@twelvesecuris.com

    About Twelve Securis

    Twelve Securis, formed from the merger of Twelve Capital and Securis Investment Partners, is a leading insurance-focused investment manager. Specialising in Cat Bonds and Private ILS, we offer research-driven investment solutions capturing alternative risk premia. Our extensive team of experts ensures transparency, innovation, and products designed for a diverse global client base.

    www.twelvesecuris.com

    The MIL Network –

  • MIL-OSI: Brookfield Wealth Solutions Announces Year End 2024 Results and Declares Quarterly Distribution Increase

    Source: GlobeNewswire (MIL-OSI)

    BROOKFIELD, NEWS, Feb. 13, 2025 (GLOBE NEWSWIRE) — Brookfield Wealth Solutions (NYSE, TSX: BNT) today announced financial results for the three months and year ended December 31, 2024.

    Sachin Shah, CEO of Brookfield Wealth Solutions, stated, “Our strong results for 2024 underscore our growth over the past year having doubled the size of the business in that time. Our scalable North American annuity platform, coupled with our leading investment capabilities, will serve as the foundation for our business as we expand internationally in 2025.”

    Unaudited
    As of and for the periods ended December 31
    (US$ millions, except per share amounts)    		 Three Months Ended   Year Ended
      2024       2023       2024       2023  
    Total assets $ 140,460     $ 61,643     $ 140,460     $ 61,643  
    Adjusted equity1   12,872       8,969       12,872       8,969  
    Distributable operating earnings1   427       258       1,374       745  
    Net income   576       453       1,247       797  
    Net income per each class A share $ 0.08     $ 0.07     $ 0.32     $ 0.28  

    1.   See Non-GAAP and Performance Measures on page 6 and a reconciliation from net income and reconciliation from equity on page 5.

    2024 Highlights

    • Completed the acquisition of American Equity Investment Life Holding Company (“AEL”), doubling the size of our business
    • Deployed more than $17 billion across our investment portfolio at strong risk-adjusted returns
    • Generated $19 billion in annuity and pension risk transfer (“PRT”) sales across the business, consisting of approximately $14 billion of retail annuity sales, inclusive of a full twelve months of activity at AEL, and $5 billion of PRT deals
    • We closed our first U.K. reinsurance transaction, reinsuring £1.0 billion ($1.3 billion) of pension liabilities

    Operating Update
    We recognized $427 million and $1.4 billion of distributable operating earnings (“DOE”) for the three months and year ended December 31, 2024, respectively, compared to $258 million and $745 million in the prior year periods. The increase in earnings for the current period reflects contributions from our acquisition of AEL as well as higher net investment income resulting from progress made in repositioning assets into higher yielding investment strategies. DOE further benefitted from strong annuity sales during the year.

    We recorded net income of $576 million and $1.2 billion for the three months and year ended December 31, 2024, respectively, compared to net income of $453 million and $797 million in the prior year periods. Net income in the current period is the result of strong operating performance and contributions from our DOE, as well as favorable movement on reserves due to interest rate and equity market movements.

    Today, we are in a strong liquidity position, with approximately $31 billion of cash and short-term liquid investments across our investment portfolios, and another $21 billion of long-term liquid investments. These liquid assets will support the ongoing rotation of our portfolio into higher yielding investment strategies, while ensuring we have sufficient liquidity coverage for our liabilities in the case of any stress events impacting the broader market.

    Regular Distribution Declaration
    The Board declared a 13% increase in the Company’s quarterly return of capital to $0.09 per class A share and class B share (representing $0.36 per annum), payable on March 31, 2025 to shareholders of record as at the close of business on March 14, 2025. This distribution is identical in amount per share and has the same payment date as the quarterly distribution announced today by Brookfield Corporation on the Brookfield class A shares.

    Brookfield Corporation Operating Results
    An investment in class A shares of our company is intended to be, as nearly as practicable, functionally and economically, equivalent to an investment in the Brookfield class A shares. A summary of Brookfield Corporation’s fourth quarter and full year operating results is provided below:

    Unaudited
    For the periods ended December 31
    (US$ millions, except per share amounts)    		 Three Months Ended   Years Ended
      2024       2023       2024       2023  
    Net income of consolidated business1 $ 101     $ 3,134     $ 1,853     $ 5,105  
    Net income attributable to Brookfield shareholders2   432       699       641       1,130  
    Distributable earnings before realizations2,3   1,498       1,209       4,871       4,223  
    – Per Brookfield class A share2,3   0.94       0.76       3.07       2.66  
    Distributable earnings2,3   1,606       1,312       6,274       4,806  
    – Per Brookfield class A share2,3   1.01       0.83       3.96       3.03  

    1.   Consolidated basis – includes amounts attributable to non-controlling interests.
    2.   Excludes amounts attributable to non-controlling interests.
    3.   See Reconciliation of Net Income to Distributable Earnings on page 5 and Non-IFRS and Performance Measures section on page 8 of Brookfield Corporation’s press release dated February 13, 2025.

    Brookfield Corporation net income above is presented under IFRS. Given the economic equivalence, we expect that the market price of the class A shares of our company will be impacted significantly by the market price of the Brookfield class A shares and the business performance of Brookfield as a whole. In addition to carefully considering the disclosure made in this news release in its entirety, shareholders are strongly encouraged to carefully review Brookfield Corporation’s letter to shareholders, supplemental information and its other continuous disclosure filings. Investors, analysts and other interested parties can access Brookfield Corporation’s disclosure on its website under the Reports & Filings section at bn.brookfield.com.

    CONSOLIDATED BALANCE SHEETS

    Unaudited     December 31
    		             December 31  
    (US$ millions)       2024               2023  
    Assets                  
                       
    Insurance invested assets                  
    Cash and cash equivalents $ 12,243         $ 4,308      
    Investments   92,966           39,838      
    Reinsurance funds withheld   1,517           7,248      
    Accrued investment income   860       107,586       280       51,674  
    Reinsurance recoverables and deposit assets       13,195               3,388  
            120,781               55,062  
                       
    Deferred policy acquisition costs       10,696               2,468  
    Other assets       8,983               4,113  
    Total assets       140,460               61,643  
                       
    Liabilities and equity                  
                       
    Policy and contract claims       7,659               7,288  
    Future policy benefits       14,088               9,813  
    Policyholders’ account balances       83,079               24,939  
    Deposit liabilities       1,502               1,577  
    Market risk benefits       3,655               89  
    Unearned premium reserve       1,843               2,056  
            111,826               45,762  
                       
    Corporate borrowings       1,022               1,706  
    Subsidiary borrowings       3,329               1,863  
    Funds withheld for reinsurance liabilities       3,392               83  
    Other liabilities       7,815               3,380  
                       
    Junior preferred shares       —               2,694  
    Non-controlling interest   850           146      
    Class A and class B   1,470           1,591      
    Class C   10,756       13,076       4,418       6,155  
    Total liabilities and equity     $ 140,460             $ 61,643  

    CONSOLIDATED STATEMENTS OF OPERATIONS

    Unaudited
    For the periods ended December 31
    US$ millions    		 Three Months Ended   Year Ended
      2024       2023       2024       2023  
    Net premiums and other policy revenue $ 4,307     $ 1,432     $ 9,048     $ 4,550  
    Net investment income, including funds withheld   1,325       621       4,440       2,121  
    Net investment gains (losses), including funds withheld   115       176       615       241  
    Total revenues   5,747       2,229       14,103       6,912  
                   
    Benefits and claims paid on insurance contracts   (4,003 )     (1,194 )     (8,162 )     (3,939 )
    Interest sensitive contract benefits   (710 )     (355 )     (1,874 )     (687 )
    Amortization of deferred policy acquisition costs   (370 )     (180 )     (1,237 )     (632 )
    Changes in fair value of insurance-related derivatives and embedded derivatives   396       210       234       41  
    Changes in fair value of market risk benefits   299       85       (107 )     166  
    Other reinsurance expenses   (6 )     (5 )     (26 )     (21 )
    Operating expenses   (332 )     (244 )     (1,356 )     (777 )
    Interest expense   (96 )     (68 )     (362 )     (249 )
    Total benefits and expenses   (4,822 )     (1,751 )     (12,890 )     (6,098 )
    Net income before income taxes   925       478       1,213       814  
    Income tax recovery (expense)   (349 )     (25 )     34       (17 )
    Net income for the period $ 576     $ 453     $ 1,247     $ 797  
                   
    Attributable to:              
    Class A and class B shareholders1 $ 4     $ 2     $ 14     $ 5  
    Class C shareholder   559       453       1,200       791  
    Non-controlling interest   13       (2 )     33       1  
      $ 576     $ 453     $ 1,247     $ 797  

    1.   Class A shares receive distributions at the same amount per share as the cash dividends paid on each Brookfield class A share.

    SUMMARIZED FINANCIAL RESULTS

    RECONCILIATION OF NET INCOME TO DISTRIBUTABLE OPERATING EARNINGS

    Unaudited
    For the periods ended December 31
    US$ millions    		 Three Months Ended   Year Ended
      2024       2023       2024       2023  
    Net income $ 576     $ 453     $ 1,247     $ 797  
    Unrealized net investment gains, including funds withheld   (115 )     (176 )     (615 )     (241 )
    Mark-to-market on insurance contracts and other net assets   (367 )     (104 )     589       105  
        94       173       1,221       661  
    Deferred income tax expense (recovery)   260       47       (195 )     14  
    Transaction costs   32       24       213       40  
    Depreciation   41       14       135       30  
    Distributable operating earnings1 $ 427     $ 258     $ 1,374     $ 745  

    RECONCILIATION OF EQUITY TO ADJUSTED EQUITY

    Unaudited
    As of December 31
    US$ millions    		   2024       2023  
    Equity $ 13,076     $ 6,155  
    Add:      
    Accumulated other comprehensive (income) loss   (204 )     120  
    Junior preferred shares   —       2,694  
    Adjusted equity1 $ 12,872     $ 8,969  

    1.   Non-GAAP measure – see Non-GAAP and Performance Measures on page 6.


    Additional Information

    The statements contained herein are based primarily on information that has been extracted from our financial statements for the quarter and year ended December 31, 2024, which have been prepared using generally accepted accounting principles in the United States of America (“US GAAP” or “GAAP”).

    Brookfield Wealth Solutions’ Board of Directors have reviewed and approved this document, including the summarized unaudited consolidated financial statements prior to its release.

    Information on our distributions can be found on our website under Stock & Distributions/Distribution History.

    Brookfield Wealth Solutions Ltd. (NYSE, TSX: BNT) is focused on securing the financial futures of individuals and institutions through a range of wealth protection and retirement services, and tailored capital solutions. Each class A exchangeable limited voting share of Brookfield Wealth Solutions is exchangeable on a one-for-one basis with a class A limited voting share of Brookfield Corporation (NYSE, TSX: BN). For more information, please visit our website at bnt.brookfield.com or contact:

    Communications & Media:
    Kerrie McHugh
    Tel: (212) 618-3469
    Email: kerrie.mchugh@brookfield.com    		   Investor Relations:
    Rachel Schneider
    Tel: (416) 369-3358
    Email: rachel.schneider@brookfield.com

    Non-GAAP and Performance Measures

    This news release and accompanying financial statements are based on US GAAP, unless otherwise noted.

    We make reference to Distributable operating earnings. We define distributable operating earnings as net income after applicable taxes excluding the impact of depreciation and amortization, deferred income taxes related to basis and other changes, and breakage and transaction costs, as well as certain investment and insurance reserve gains and losses, including gains and losses related to asset and liability matching strategies, non-operating adjustments related to changes in cash flow assumptions for future policy benefits, and change in market risk benefits, and is inclusive of returns on equity invested in certain variable interest entities and our share of adjusted earnings from our investments in certain associates. Distributable operating earnings is a measure of operating performance. We use distributable operating earnings to assess our operating results. We also make reference to Adjusted equity. Adjusted equity represents the total economic equity of our Company through our class A, B and C shares, excluding Accumulated other comprehensive income, and the junior preferred shares issued by our Company. We use adjusted equity to assess our return on our equity.

    We provide additional information on key terms and non-GAAP measures in our filings available at bnt.brookfield.com.

    Notice to Readers

    Brookfield Wealth Solutions Ltd. (“Brookfield Wealth Solutions” or “our” or “we”) is not making any offer or invitation of any kind by communication of this news release and under no circumstance is it to be construed as a prospectus or an advertisement.

    This news release contains “forward-looking information” within the meaning of Canadian provincial securities laws, “forward-looking statements” within the meaning of Canadian provincial securities laws, “forward-looking statements” within the meaning of the U.S. Securities Act of 1933, the U.S. Securities Exchange Act of 1934, and “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and in any applicable Canadian securities regulations (collectively, “forward-looking statements”). Forward-looking statements include statements that are predictive in nature, depend upon or refer to future results, events or conditions, and include, but are not limited to, statements which reflect management’s current estimates, assumptions and expectations regarding the operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, strategies, capital management and outlook of Brookfield Wealth Solutions, Brookfield Corporation and their respective subsidiaries, as well as the outlook for North American and international economies for the current fiscal year and subsequent periods. Particularly, statements regarding international expansion plans and future capital markets initiatives, including statements relating to the redeployment of capital into higher yielding investments constitute forward-looking statements. In some cases, forward-looking statements can be identified by the use of forward-looking terminology such as “expects,” “anticipates,” “plans,” “believes,” “estimates,” “seeks,” “intends,” “targets,” “projects,” “foresees,” “forecasts” or negative versions thereof and other similar expressions, or future or conditional verbs such as “may,” “will,” “should,” “would” and “could.” In particular, the forward-looking statements contained in this news release include statements referring to the growth of our business, international expansion, investment opportunities and expected future deployment of capital and financial earnings. Although we believe that our anticipated future results, performance or achievements expressed or implied by the forward-looking statements and information are based upon reasonable estimates, assumptions and expectations, the reader should not place undue reliance on forward-looking statements and information because they involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, which may cause the actual results, performance or achievements of Brookfield Wealth Solutions or Brookfield Corporation to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements and information.

    Factors that could cause actual results to differ materially from those contemplated or implied by forward-looking statements include, but are not limited to: (i) investment returns that are lower than target; (ii) the impact or unanticipated impact of general economic, political and market factors in the countries in which we do business; (iii) the behavior of financial markets, including fluctuations in interest and foreign exchange rates and heightened inflationary pressures; (iv) global equity and capital markets and the availability of equity and debt financing and refinancing within these markets; (v) strategic actions including acquisitions and dispositions; the ability to complete and effectively integrate acquisitions into existing operations and the ability to attain expected benefits; (vi) changes in accounting policies and methods used to report financial condition (including uncertainties associated with critical accounting assumptions and estimates); (vii) the ability to appropriately manage human capital; (viii) the effect of applying future accounting changes; (ix) business competition; (x) operational and reputational risks; (xi) technological change; (xii) changes in government regulation and legislation within the countries in which we operate; (xiii) governmental investigations and sanctions; (xiv) litigation; (xv) changes in tax laws; (xvi) ability to collect amounts owed; (xvii) catastrophic events, including but not limited to, earthquakes, hurricanes, epidemics and pandemics; (xviii) the possible impact of international conflicts and other developments including terrorist acts and cyberterrorism; (xix) the introduction, withdrawal, success and timing of business initiatives and strategies; (xx) the failure of effective disclosure controls and procedures and internal controls over financial reporting and other risks; (xxi) health, safety and environmental risks; (xxii) the maintenance of adequate insurance coverage; (xxiii) the existence of information barriers between certain businesses within our asset management operations; (xxiv) risks specific to our business segments; and (xxv) factors detailed from time to time in our documents filed with the securities regulators in Canada and the United States.

    We caution that the foregoing list of important factors that may affect future results is not exhaustive and other factors could also adversely affect its results. Readers are urged to consider the foregoing risks, as well as other uncertainties, factors and assumptions carefully in evaluating the forward-looking information and are cautioned not to place undue reliance on such forward-looking information. Except as required by law, Brookfield Wealth Solutions undertakes no obligation to publicly update or revise any forward-looking statements or information, whether written or oral, that may be as a result of new information, future events or otherwise.

    Past performance is not indicative nor a guarantee of future results. There can be no assurance that comparable results will be achieved in the future, that future investments will be similar to the historic investments discussed herein, that targeted returns, growth objectives, diversification or asset allocations will be met or that an investment strategy or investment objectives will be achieved (because of economic conditions, the availability of investment opportunities or otherwise).

    Certain of the information contained herein is based on or derived from information provided by independent third-party sources. While Brookfield Wealth Solutions believes that such information is accurate as of the date it was produced and that the sources from which such information has been obtained are reliable, Brookfield Wealth Solutions does not make any assurance, representation or warranty, express or implied, with respect to the accuracy, reasonableness or completeness of any of the information or the assumptions on which such information is based, contained herein, including but not limited to, information obtained from third parties, and undue reliance should not be put on them.

    The MIL Network –

  • MIL-OSI: YieldMax™ Unveils New Weekly Pay 0DTE Covered Call Strategy ETF on the Nasdaq 100 Index

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, MILWAUKEE and NEW YORK, Feb. 13, 2025 (GLOBE NEWSWIRE) — YieldMax™ announced the launch today of the following ETF:

    YieldMax™ Nasdaq 100 0DTE Covered Call Strategy ETF (Nasdaq: QDTY)

    QDTY Overview        
    QDTY follows an active management approach that utilizes a synthetic covered call strategy designed to generate weekly income while also providing exposure to the price return of an Index.

    • QDTY is designed to generate weekly income, while also providing exposure to the price return of the Nasdaq 100 Index (the “Index”).
    • QDTY seeks to generate income primarily by utilizing zero days to expiry (“0DTE”) options on the Index and/or passively managed ETFs that tracks the Index’s performance (the “Index ETFs”).

    Index
    The Nasdaq 100 Index is a benchmark index comprising 100 of the largest non-financial companies listed on the Nasdaq Stock Market, based on market capitalization. This large-cap index, heavily weighted towards the technology sector, represents various industries, including consumer discretionary, healthcare, communication services, and industrials, reflecting Nasdaq’s historical strength.

    QDTY’s Option Strategy

    QDTY employs a synthetic covered call strategy by selling and purchasing call options on the Index or Index ETFs. Each business day, typically at market open, the Fund sells out-of-the-money (OTM) call options with zero days to expiration (“0DTE”), which expire the same day they are sold. OTM options have a strike price above the current Index value. QDTY’s synthetic covered call strategy is established by combining the call options sold to generate income with buying call options for exposure to the Index.

    QDTY’s Return Profile and Index Performance

    QDTY earns income by selling out-of-the-money 0DTE call options daily. The premiums from these options add to income but limit participation in Index gains. If the Index rises past the strike price, losses on sold options can offset gains. This strategy balances income generation with limited Index upside exposure while premiums can help mitigate losses if the Index declines.

    QDTY’s Distribution Schedule
    Like all YieldMax™ ETFs, QDTY aims to generate income for investors. With respect to distributions, QDTY aims to make distributions on a weekly basis, and its first weekly distribution is expected to be announced on February 26, 2025.

    Why Invest in QDTY?

    • QDTY seeks to generate weekly income, which is not dependent on the value of the Index (or the Index ETFs).
    • QDTY aims to participate in a portion of the Index gains, which may be capped.

    Important Information

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

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

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

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

    Risk Disclosures

    Investing involves risk. Principal loss is possible.

    Referenced Index Risk. The Fund invests in options contracts that are based on the value of the Index (or the Index ETFs). This subjects the Fund to certain of the same risks as if it owned shares of companies that comprised the Index or an ETF that tracks the Index, even though it does not.

    Indirect Investment Risk. The Index is not affiliated with the Trust, the Fund, the Adviser, or their respective affiliates and is not involved with this offering in any way. Investors in the Fund will not have the right to receive dividends or other distributions or any other rights with respect to the companies that comprise the Index but will be subject to declines in the performance of the Index.

    The Nasdaq 100 Index Risks. The Index’s major risks stem from its high concentration in the technology sector and significant exposure to high-growth, high-valuation companies. A downturn in the tech industry, whether from regulatory changes, shifts in technology, or competitive pressures, can greatly impact the index.

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

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

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

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

    Distribution Risk. As part of the Fund’s investment objective, the Fund seeks to provide current income. There is no assurance that the Fund will make a distribution in any given period. If the Fund does make distributions, the amounts of such distributions will likely vary greatly from one distribution to the next. Additionally, monthly distributions, if any, may consist of returns of capital, which would decrease the Fund’s NAV and trading price over time.

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

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

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

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

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

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

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

    © 2025 YieldMax™ ETFs

    The MIL Network –

  • MIL-OSI: Defiance ETFs Launches Battleshares™ ETFs, Introducing ELON (Tesla vs. Ford) as Flagship Fund

    Source: GlobeNewswire (MIL-OSI)

    MIAMI, Feb. 13, 2025 (GLOBE NEWSWIRE) — Defiance ETFs is excited to introduce Battleshares™ Exchange-Traded Funds (ETFs), an innovative suite of ETFs designed to capture competitive market dynamics and capitalize on strategic market rivalries within leading industries. The suite will feature a range of distinct ETFs, each crafted to help investors benefit from evolving market competition.

    Introducing ELON: The First in the Battleshares™ Series
    The first ETF in the Battleshares™ lineup is the Battleshares™ TSLA vs. F ETF (Ticker: ELON). This actively managed fund embodies market competition, highlighting the dynamic rivalry between what the advisor believes to be an industry disruptor Tesla (TSLA) and legacy competitor Ford (F). The Fund’s strategy involves a leveraged long position in TSLA, generally targeting +200% of the Fund’s net assets, paired with a leveraged short position in F, generally targeting -100% of the Fund’s net assets. ELON provides investors with a unique opportunity to gain exposure to the ongoing transformation within the automotive sector, capitalizing on the divergence between innovation and tradition.

    A Competitive Edge for Forward-Thinking Investors
    Battleshares™ ETFs employ a unique long/short investment strategy, going long on industry innovators while shorting their legacy competitors. This approach enables the funds to potentially generate returns across various market conditions while focusing on single-stock opportunities. The funds will cover sectors such as technology, retail, financial services, and automotive.

    “We are thrilled to introduce Battleshares™ ETFs, starting with ELON,” said Sylvia Jablonski, Chief Executive Officer & CIO of Defiance ETFs. “This suite is designed to empower investors with strategic tools that harness industry disruption and market evolution.”

    Key Features of the Battleshares™ ETFs:

    • Actively Managed Strategies: A long/short investment approach to capitalize on market dynamics.
    • Industry-Specific Focus: Targeting sectors including semiconductors, financial services, and renewable energy.
    • Leveraged Exposure: Structured to magnify returns through leveraged long and short positions.
    • Innovation-Driven: Funds such as ELON prioritize transformative market trends and technological advancements.

    The Battleshares™ TSLA vs. F ETF (Ticker: ELON) will be listed on the NYSE, offering investors a unique opportunity to participate in the competitive dynamics of transformational growth sectors.

    About Defiance ETFs
    Established in 2018, Defiance leads in ETF innovation. Our pioneering leveraged ETFs enable investors to amplify positions in innovative strategies, offering precise leveraged exposure without requiring a margin account.

    For more information about Battleshares™ ETFs and the Battleshares™ TSLA vs. F ETF (Ticker: ELON), please visit https://www.battle-shares.com.

    Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the Fund, please call (866) 532-3886 or visit our website at www.battle-shares.com. Read the prospectus or summary prospectus carefully before investing.

    None of the Fund, the Trust, the Adviser, or their respective affiliates makes any representation to you as to the performance of TSLA or F. THE FUND, TRUST, AND ADVISER ARE NOT AFFILIATED WITH TESLA, INC. or FORD MOTOR COMPANY.

    Investing involves risk. Principal loss is possible. As an ETF, the funds may trade at a premium or discount to NAV. Shares of any ETF are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. A portfolio concentrated in a single industry or country, may be subject to a higher degree of risk. There is no guarantee that the Fund’s investment strategy will be properly implemented, and an investor may lose some or all of its investment.

    TSLA Risk (Long Position). The Fund invests in TSLA either directly or indirectly through derivative instruments (i.e., via options and swaps). Through its long position, the Fund is subject to the risk that TSLA’s share price decreases. If the share price of TSLA decreases, the Fund will likely lose value and, as a result, the Fund may suffer significant losses. Therefore, as a result of the Fund’s exposure to the value of TSLA, the Fund may also be subject to the following risks: Indirect Investment in TSLA Risk. Tesla, Inc. is not affiliated with the Trust, the Fund, the Adviser, or their respective affiliates and is not involved with this offering in any way and has no obligation to consider your Shares in taking any corporate actions that might affect the value of Shares. Investors in the Fund will not have voting rights and will not be able to influence management of Tesla, Inc. but will be exposed to the performance of TSLA (the underlying stock). Investors in the Fund will not have rights to receive dividends or other distributions or any other rights with respect to the underlying stock but will be subject to declines in the performance of the underlying stock. Tesla, Inc. Performance Risk. Tesla, Inc. may fail to meet its publicly announced guidelines or other expectations about its business, which could cause the price of TSLA to decline. Electric Vehicles Risk. The future growth and success of Tesla, Inc. are dependent upon consumers’ demand for electric vehicles, and specifically, its vehicles in an automotive industry that is generally competitive, cyclical and volatile. If the market for electric vehicles in general and Tesla, Inc. vehicles in particular does not develop as Tesla, Inc. expects, develops more slowly than it expects, or if demand for its vehicles decreases in its markets or its vehicles compete with each other, the business, prospects, financial condition and operating results of Tesla, Inc. may be harmed.

    Ford Price Appreciation Risk (Short Position). As part of the Fund’s short strategy, the Fund may sell F shares short, either directly or through the use of derivatives. By virtue of the Fund’s indirect inverse exposure to changes in the share price of F, the Fund is subject to the risk that F’s share price increases. If the share price of F increases, the Fund will likely lose value and, as a result, the Fund may suffer significant losses. The Fund may also be subject to the following risks: Ford’s ability to gain market share in the electric vehicle market may enhance its market position and result in increased stock prices. Market share gains against key competitors, such as TSLA, in the electric vehicle market may further support Ford’s stock performance. Moreover, strategic partnerships and successful acquisitions could drive significant growth and lead to stock appreciation. Favorable macroeconomic and industry conditions, including strong global demand for automobiles, may contribute to robust financial performance for Ford. Ford may benefit from favorable geopolitical developments, including advantageous trade policies or improved relations with key markets, such as China, which could positively impact its operations and stock performance. Conversely, any significant challenges faced by competitors, such as product delays or supply chain issues, may reduce competition and contribute to Ford’s stock outperformance.

    Leveraging Risk. The Fund’s use of leverage amplifies both potential gains and potential losses, which can result in significant volatility and higher risk for investors. Specifically, TSLA, the Fund’s leveraged long position (“Long Position”) and, F, leveraged short position (“Short Position”) expose the Fund to heightened risk if the Long Position performs poorly while the Short Position performs well. If the value of the Long Position declines, the Fund’s leveraged exposure could result in losses that are magnified by the leverage factor, potentially exceeding the losses that would occur in an unleveraged position. For example, if the Fund’s Long Position is at +200% of net assets, a 10% decline in the value of the Long Position could translate into a 20% loss for the Fund’s net asset value attributable to that position. Conversely, if the value of the Short Position increases, the Fund’s leveraged short exposure could also lead to magnified losses. If the Short Position is at -100% of net assets, a 10% rise in the value of the Short Position could result in a 10% loss for the Fund’s net asset value attributable to that position.

    Derivatives Risk. The Fund’s derivative investments carry risks such as an imperfect match between the derivative’s performance and its underlying assets, and the potential for loss of principal, which can exceed the initial investment.

    Non-Diversification Risk. Because the Fund is “non-diversified,” it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund. As a result, a decline in the value of an investment in a single issuer or a smaller number of issuers could cause the Fund’s overall value to decline to a greater degree than if the Fund held a more diversified portfolio.

    New Fund Risk. As of the date of the prospectus, the Fund has no operating history and currently has fewer assets than larger funds. Like other new funds, large inflows and outflows may impact the Fund’s market exposure for limited periods of time. Brokerage Commissions may be charged on trades.

    Distributed by Foreside Fund Services, LLC.

    The MIL Network –

  • MIL-OSI: Blackford Capital Earns M&A Atlas Awards for U.S.A. Deal of the Year and Rising Star Dealmaker

    Source: GlobeNewswire (MIL-OSI)

    GRAND RAPIDS, Mich., Feb. 13, 2025 (GLOBE NEWSWIRE) — Blackford Capital (“Blackford”), a leading lower middle market private equity firm, announced today that it was awarded U.S.A. Deal of the Year at the 16th Annual Americas M&A Atlas Awards, hosted by Global M&A Network, LLC. Rishabh Mukherjee, CFA, Blackford’s Vice President of Deals (T/IPP), was also honored as a 2024 America’s Rising Star Dealmaker.

    The Americas M&A Atlas Awards, presented at a gala held on February 6, recognize the achievements of influential dealmakers and leaders, outstanding firms, and the best growth-delivering transactions of the year. Blackford Capital was also named a finalist for the Private Equity Firm of the Year award.

    Blackford received the U.S.A. Deal of the Year award for the acquisition of Industrial Molding Corporation by its portfolio company Davalor Mold Company, LLC (“Davalor”) from NN, Inc. Industrial Molding Corporation, the first add-on to the Davalor platform, has expanded the company’s breadth of capabilities and strengthened its leadership team, while also serving as a solid foundation for continued expansion and innovation.

    “We are extremely honored to be recognized by Global M&A Network for our team’s success in closing a strategically important deal for our portfolio, particularly in 2024’s more competitive deal environment,” said Martin Stein, Blackford Capital’s founder and managing director. “I sincerely appreciate the hard work of everyone at Blackford who contributed to this accomplishment, and together we will look to build on our achievements from last year.”

    Mr. Mukherjee was also named a 2024 America’s Rising Star Dealmakers by the Global M&A Network, which recognizes brilliant and exceptional young dealmakers for their achievements, dedication, and talents for closing value-creating transactions. Mr. Mukherjee has over seven years of experience in executing complex transactions, as well as a demonstrated ability to deliver projects on both the buy-side and sell-side by working closely with various stakeholders across the entire deal lifecycle.

    “Rishabh’s recognition is truly well-earned,” said Mr. Stein. “He has played an important role in the investment process at Blackford, and his ability to collaborate with stakeholders has brought a people-centered approach to dealmaking. This award is a testament to the impact he has had our firm, and we look forward to his future contributions.”

    For more information, and for a detailed list of all the Award winners for the 16th Americas M&A Atlas Awards and Rising Star Awards, please visit https://globalmanetwork.com.

    About Blackford Capital
    Founded in 2010, Blackford Capital is a private equity investment firm headquartered in Grand Rapids, Michigan. Blackford acquires, manages, and builds founder and family-owned, lower middle-market companies, with a focus on the manufacturing, industrial and distribution industries. Blackford has a track record of exceptional returns, a disciplined and relentless approach to value creation, and a focus on operational excellence and a compelling culture. In 2023 and 2024, Blackford Capital was named to Inc’s list of Founder-Friendly Investors, was recognized by ACG Detroit with the 2023 M&A Dealmaker of the Year Award and awarded the 2023 Small Markets Deal of the Year award by both Buyouts Magazine and the Global M&A Network Atlas Awards. For more information, visit www.blackfordcapital.com.

    Media Contact:
    Lambert by LLYC
    Jennifer Hurson
    (845) 729-3100
    jhurson@lambert.com

    Jackson Lin
    (646) 717-4593
    jlin@lambert.com

    Photos accompanying this announcement are available at:

    https://www.globenewswire.com/NewsRoom/AttachmentNg/f0378d41-fbbe-498c-89f3-40bb9742f6a7

    https://www.globenewswire.com/NewsRoom/AttachmentNg/351310b7-130b-42cc-9524-0597f4a92d29

    The MIL Network –

  • MIL-OSI: CareCloud Transfers Funds for Preferred Stock Dividends

    Source: GlobeNewswire (MIL-OSI)

    SOMERSET, N.J., Feb. 13, 2025 (GLOBE NEWSWIRE) — CareCloud, Inc. (Nasdaq: CCLD, CCLDO, CCLDP), a leader in healthcare technology and generative AI solutions, today announced that it has transferred the funds for the January 2025 dividend payments on its Series A and Series B Cumulative Redeemable Perpetual Preferred Stock.

    As previously disclosed, holders of Series A Preferred Stock will receive 22.917 cents per share, while holders of Series B Preferred Stock will receive 18.229 cents per share based on a record date of January 31, 2025. These payments are expected to be reflected in shareholders’ brokerage accounts between February 18 and February 20, 2025.

    “We appreciate the continued support of our shareholders and remain focused on maintaining financial stability,” said Norman Roth, Interim Chief Financial Officer of CareCloud. “The timely payment of these dividends reflects our commitment to responsible fiscal management and ongoing progress in strengthening our financial position.”

    Dividend details:

    • Expected reflection in accounts: February 18 – February 20, 2025
    • Record date: January 31, 2025
    • Series A Dividend: 22.917 cents per share
    • Series B Dividend: 18.229 cents per share

    Dividends for both Series A and Series B Preferred Stock are cumulative and payable monthly, in arrears, on the 15th of each month or the next business day if the 15th of the month is a bank holiday or weekend. In February, President’s Day is observed on Monday the 17th, therefore the first business day after February 15th is February 18th.

    Shareholders who do not see their dividend payment in their brokerage account by the end of next week are encouraged to contact their broker for assistance. For further inquiries, the CareCloud Investor Relations team can be reached at ir@carecloud.com.

    About CareCloud

    CareCloud 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.

    Forward-Looking Statements

    This press release contains various forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements relate to anticipated future events, future results of operations or future financial performance. In some cases, you can identify forward-looking statements by terminology such as “may,” “might,” “will,” “shall,” “should,” “could,” “intends,” “expects,” “plans,” “goals,” “projects,” “anticipates,” “believes,” “seeks,” “estimates,” “forecasts,” “predicts,” “possible,” “potential,” “target,” or “continue” or the negative of these terms or other comparable terminology.

    Our operations involve risks and uncertainties, many of which are outside our control, and any one of which, or a combination of which, could materially affect our results of operations and whether the forward-looking statements ultimately prove to be correct. Forward-looking statements in this press release include, without limitation, statements reflecting management’s expectations for future financial performance and operating expenditures, expected growth, profitability and business outlook, the impact of pandemics on our financial performance and business activities, and the expected results from the integration of our acquisitions.

    These forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are only predictions, are uncertain and involve substantial known and unknown risks, uncertainties and other factors which may cause our (or our industry’s) actual results, levels of activity or performance to be materially different from any future results, levels of activity or performance expressed or implied by these forward-looking statements. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all of the risks and uncertainties that could have an impact on the forward-looking statements, including without limitation, risks and uncertainties relating to the Company’s ability to manage growth, migrate newly acquired customers and retain new and existing customers, maintain cost-effective global operations, increase operational efficiency and reduce operating costs, predict and properly adjust to changes in reimbursement and other industry regulations and trends, retain the services of key personnel, develop new technologies, upgrade and adapt legacy and acquired technologies to work with evolving industry standards, compete with other companies’ products and services competitive with ours, and other important risks and uncertainties referenced and discussed under the heading titled “Risk Factors” in the Company’s filings with the Securities and Exchange Commission.

    The statements in this press release are made as of the date of this press release, even if subsequently made available by the Company on its website or otherwise. The Company does not assume any obligations to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

    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 –

  • MIL-OSI: Calian Reports Results for the First Quarter

    Source: GlobeNewswire (MIL-OSI)

    (All amounts in release are in Canadian dollars)

    OTTAWA, Ontario, Feb. 13, 2025 (GLOBE NEWSWIRE) — Calian® Group Ltd. (TSX:CGY), a diverse products and services company providing innovative healthcare, communications, learning and cybersecurity solutions, today released its results for the first quarter ended December 31, 2024.

    Q1-25 Highlights:

    • Revenue up 3% to $185 million
    • Gross margin at 31.8%, slightly down from 32.5% last year
    • Adjusted EBITDA1 of $18 million, down from $21 million last year
    • Operating free cash flow1 of $13 million, down from $17 million last year
    • Net debt to adjusted EBITDA1 ratio of 0.6x
    • Repurchased 101,350 shares in consideration of $4.9 million
    • Guidance reiterated
    • Announced new U.S. subsidiary to focus on U.S. government and defence
       
    Financial Highlights Three months ended
    (in millions of $, except per share & margins) December  31,
      2024   20232   %
    Revenue 185.0   179.2   3 %
    Adjusted EBITDA1 17.8   21.4   (17) %
    Adjusted EBITDA %1 9.6 % 11.9 % (230)bps
    Adjusted Net Profit1 10.5   14.0   (25) %
    Adjusted EPS Diluted1 0.88   1.17   (25) %
    Operating Free Cash Flow1 13.1   17.2   (24) %
           
           

    1 This is a non-GAAP measure. Please refer to the section “Reconciliation of non-GAAP measures to most comparable IFRS measures” at the end of this press release.
    2 Certain comparative figures have been reclassified to align with the current year’s presentation. For more information, please see the selected consolidated financial information section of the management discussion and analysis.

    Access the full report on the Calian Financials web page.
    Register for the conference call on Thursday, February 13, 2025, 8:30 a.m. Eastern Time.

    “We closed the quarter as expected and are seeing positive momentum across our diverse end markets, while continuing to benefit from the strong contributions of our recent acquisitions in UK, the U.S. and Canada,” said Kevin Ford, Calian CEO. “The accelerating global demand for defence solutions positions Calian’s expanding footprint to play a critical role in the years ahead. Additionally, discussions among Canadian leaders about increasing military investment and accelerating initiatives are a welcome development. We remain on track to deliver another record year and are making progress against our long-term objectives.”

    First Quarter Results

    Revenues increased 3%, from $179 million to $185 million, representing the highest first quarter revenue on record. Acquisitive growth was 8% and was generated by the acquisitions of Decisive Group, the nuclear assets from MDA Ltd and Mabway. Organic growth was down 5%, as growth generated in global Defence was offset by declines in the pace of domestic Defence training and delays in large projects in its Space and IT infrastructure markets.

    Gross margin stood at 31.8% and represents the 11th quarter above the 30% mark. Adjusted EBITDA1 stood at $18 million, down 17% from $21 million last year, primarily impacted by revenue mix and increased investments in our sales and delivery capacity. As a result, adjusted EBITDA1 margin decreased to 9.6%, from 11.9% last year.

    Net profit stood at $(1) million, or $(0.08) per diluted share, down from $6 million, or $0.46 per diluted share last year. This decrease in profitability is primarily due to increases in accounting charges related to amortization and deemed compensation expenses from acquisitions as well as increased operating expenses, which was offset by higher gross profit. Adjusted net profit1 was $10 million, or $0.88 per diluted share, down from $14 million, or $1.17 per diluted share last year.

    Liquidity and Capital Resources

    “In the first quarter we generated $13 million in operating free cash flow1, representing a 73% conversion rate from adjusted EBITDA1,” said Patrick Houston, Calian CFO. “We used our cash and a portion of our credit facility to pay contingent earn out liabilities for $11 million and make capital expenditure investments for $1 million. We also provided a return to shareholders in the form of dividends for $3 million and share buybacks for $5 million. We ended the quarter with a net debt to adjusted EBITDA1 ratio of 0.6x, well-positioned to pursue our growth objectives,” concluded Mr. Houston.

    Normal Course Issuer Bid

    In the three-month period ended December 31, 2024, the Company repurchased 101,350 shares for cancellation in consideration of $4.9 million.

    Announced U.S. Subsidiary to Focus on U.S. Government and Defence

    On December 4, 2024, Calian announced the launch of an independent U.S.-focused subsidiary, Calian US, Inc. It is committed to securing U.S. government contracts by ensuring full compliance with all relevant regulations. To facilitate this, Calian US will be established as an independent subsidiary and will pursue the necessary certifications to operate effectively within the U.S. market.

    Quarterly Dividend

    On February 12, 2025, Calian declared a quarterly dividend of $0.28 per share. The dividend is payable March 12, 2025, to shareholders of record as of February 26, 2025. Dividends paid by the Company are considered “eligible dividend” for tax purposes.

    Guidance Reiterated

    The table below presents the FY25 guidance based on the new definition of adjusted EBITDA.

      Guidance for the year ended September 30, 2025 FY24 Results   YOY Growth at Midpoint
    (in thousands of $) Low   Midpoint   High    
    Revenue 800,000   840,000   880,000   746,611   12 %
    Adj. EBITDA1 96,000   101,000   106,000   92,159   10 %
                       
                       

    This guidance includes the full-year contribution from the Decisive Group acquisition, closed on December 1, 2023, the nuclear asset acquisition from MDA Ltd., closed on March 5, 2024 and the Mabway acquisition, closed on May 9, 2024. It does not include any other further acquisitions that may close within the fiscal year. The guidance reflects another record year for the Company and positions it well to achieve its long-term growth targets.

    At the midpoint of the range, this guidance reflects revenue and adjusted EBITDA1 growth of 12% and 10%, respectively, and an adjusted EBITDA1 margin of 12.0%. It would represent the 8th consecutive year of double-digit revenue growth and record revenue and adjusted EBITDA1 levels.

    About Calian

    www.calian.com

    We keep the world moving forward. Calian® helps people communicate, innovate, learn and lead safe and healthy lives. Every day, our employees live our values of customer commitment, integrity, innovation, respect and teamwork to engineer reliable solutions that solve complex challenges. That’s Confidence. Engineered. A stable and growing 40-year company, we are headquartered in Ottawa with offices and projects spanning North American, European and international markets. Visit calian.com to learn about innovative healthcare, communications, learning and cybersecurity solutions.

    Product or service names mentioned herein may be the trademarks of their respective owners. 

    Media inquiries:
    media@calian.com
    613-599-8600

    Investor Relations inquiries:
    ir@calian.com

    —————————————————————————–
    DISCLAIMER

    Certain information included in this press release is forward-looking and is subject to important risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Such statements are generally accompanied by words such as “intend”, “anticipate”, “believe”, “estimate”, “expect” or similar statements. Factors which could cause results or events to differ from current expectations include, among other things: the impact of price competition; scarce number of qualified professionals; the impact of rapid technological and market change; loss of business or credit risk with major customers; technical risks on fixed price projects; general industry and market conditions and growth rates; international growth and global economic conditions, and including currency exchange rate fluctuations; and the impact of consolidations in the business services industry. For additional information with respect to certain of these and other factors, please see the Company’s most recent annual report and other reports filed by Calian with the Ontario Securities Commission. Calian disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. No assurance can be given that actual results, performance or achievement expressed in, or implied by, forward-looking statements within this disclosure will occur, or if they do, that any benefits may be derived from them.

    Calian · Head Office · 770 Palladium Drive · Ottawa · Ontario · Canada · K2V 1C8
    Tel: 613.599.8600 · Fax: 613-592-3664 · General info email: info@calian.com

    CALIAN GROUP LTD.
    UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
    As at December 31, 2024 and September 30, 2024
    (Canadian dollars in thousands, except per share data)
                   
      December 31,   September 30,
      2024   2024
    ASSETS              
    CURRENT ASSETS              
    Cash and cash equivalents $ 61,040     $ 51,788  
    Accounts receivable   157,542       157,376  
    Work in process   20,205       20,437  
    Inventory   29,442       23,199  
    Prepaid expenses   23,805       23,978  
    Derivative assets   31       32  
    Total current assets   292,065       276,810  
    NON-CURRENT ASSETS              
    Property, plant and equipment   41,234       40,962  
    Right of use assets   41,746       36,383  
    Prepaid expenses   7,157       7,820  
    Deferred tax asset   3,376       3,425  
    Investments   3,875       3,875  
    Acquired intangible assets   123,297       128,253  
    Goodwill   213,925       210,392  
    Total non-current assets   434,610       431,110  
    TOTAL ASSETS $ 726,675     $ 707,920  
    LIABILITIES AND SHAREHOLDERS’ EQUITY              
    CURRENT LIABILITIES              
    Accounts payable and accrued liabilities $ 123,945     $ 124,884  
    Provisions   2,454       3,075  
    Unearned contract revenue   40,263       41,723  
    Lease obligations   5,556       5,645  
    Contingent earn-out   29,709       39,136  
    Derivative liabilities   169       92  
    Total current liabilities   202,096       214,555  
    NON-CURRENT LIABILITIES              
    Debt facility   115,750       89,750  
    Lease obligations   39,425       33,798  
    Unearned contract revenue   17,256       14,503  
    Contingent earn-out   2,773       2,697  
    Deferred tax liabilities   23,738       25,862  
    Total non-current liabilities   198,942       166,610  
    TOTAL LIABILITIES   401,038       381,165  
                   
    SHAREHOLDERS’ EQUITY              
    Issued capital   227,561       225,747  
    Contributed surplus   4,555       6,019  
    Retained earnings   84,038       91,268  
    Accumulated other comprehensive income (loss)   9,483       3,721  
    TOTAL SHAREHOLDERS’ EQUITY   325,637       326,755  
    TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 726,675     $ 707,920  
    Number of common shares issued and outstanding   11,765,055       11,802,364  
    CALIAN GROUP LTD.
    UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF NET PROFIT
    For the three months ended December 31, 2024 and 2023
    (Canadian dollars in thousands, except per share data)
           
      Three months ended
      December  31,
      2024     2023
    Revenue $ 185,047     $ 179,179  
    Cost of revenues   126,246       120,961  
    Gross profit   58,801       58,218  
           
    Selling, general and administrative   38,105       34,145  
    Research and development   2,896       2,719  
    Share based compensation   1,091       1,190  
    Profit before under noted items   16,709       20,164  
           
    Restructuring expense   692       —  
    Depreciation and amortization   11,540       9,006  
    Mergers and acquisition costs   2,320       1,980  
    Profit before interest income and income tax expense   2,157       9,178  
           
    Interest expense   1,783       1,547  
    Income tax expense   1,350       2,106  
    NET PROFIT (LOSS) $ (976)     $ 5,525  
           
    Net profit (loss) per share:      
    Basic $ (0.08)     $ 0.47  
    Diluted $ (0.08)     $ 0.46  
    CALIAN GROUP LTD.
    UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
    For the three months ended December 31, 2024 and 2023
    (Canadian dollars in thousands)
               
      Three months ended
      December 31,
        2024       2023  
    CASH FLOWS GENERATED FROM (USED IN) OPERATING ACTIVITIES          
    Net profit $ (976 )   $ 5,525  
    Items not affecting cash:          
    Interest expense   1,295       1,098  
    Changes in fair value related to contingent earn-out   558       726  
    Lease obligations interest expense   488       449  
    Income tax expense   1,350       2,106  
    Employee share purchase plan expense   174       162  
    Share based compensation expense   917       1,013  
    Depreciation and amortization   11,540       9,006  
    Deemed compensation   1,563       604  
        16,909       20,689  
    Change in non-cash working capital          
    Accounts receivable   (167 )     (11,189 )
    Work in process   232       (898 )
    Prepaid expenses and other   (2,739 )     (74 )
    Inventory   (6,241 )     (2,590 )
    Accounts payable and accrued liabilities   (858 )     15,516  
    Unearned contract revenue   1,294       206  
        8,430       21,660  
    Interest paid   (1,783 )     (1,547 )
    Income tax paid   (2,265 )     (2,575 )
        4,382       17,538  
    CASH FLOWS GENERATED FROM (USED IN) FINANCING ACTIVITIES          
    Issuance of common shares net of costs   881       694  
    Dividends   (3,292 )     (3,314 )
    Draw on debt facility   26,000       56,000  
    Payment of lease obligations   (1,442 )     (1,171 )
    Repurchase of common shares   (4,926 )     (1,357 )
        17,221       50,852  
    CASH FLOWS USED IN INVESTING ACTIVITIES          
    Business acquisitions   (11,215 )     (47,457 )
    Property, plant and equipment   (1,136 )     (2,400 )
        (12,351 )     (49,857 )
               
    NET CASH INFLOW (OUTFLOW) $ 9,252     $ 18,533  
    CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD   51,788       33,734  
    CASH AND CASH EQUIVALENTS, END OF PERIOD $ 61,040     $ 52,267  
                   

    Reconciliation of Non-GAAP Measures to Most Comparable IFRS Measures

    These non-GAAP measures are mainly derived from the consolidated financial statements, but do not have a standardized meaning prescribed by IFRS; therefore, others using these terms may calculate them differently. The exclusion of certain items from non-GAAP performance measures does not imply that these are necessarily nonrecurring. From time to time, we may exclude additional items if we believe doing so would result in a more transparent and comparable disclosure. Other entities may define the above measures differently than we do. In those cases, it may be difficult to use similarly named non-GAAP measures of other entities to compare performance of those entities to the Company’s performance.

    Management believes that providing certain non-GAAP performance measures, in addition to IFRS measures, provides users of the Company’s financial reports with enhanced understanding of the Company’s results and related trends and increases transparency and clarity into the core results of the business. Adjusted EBITDA excludes items that do not reflect, in our opinion, the Company’s core performance and helps users of our MD&A to better analyze our results, enabling comparability of our results from one period to another.

    Adjusted EBITDA

         
        Three months ended
        December 31,
        2024       20231  
    Net profit $ (976 )   $ 5,525  
    Share based compensation   1,091       1,190  
    Restructuring expense   692       —  
    Depreciation and amortization   11,540       9,006  
    Mergers and acquisition costs   2,320       1,980  
    Interest expense   1,783       1,547  
    Income tax   1,350       2,106  
    Adjusted EBITDA $ 17,800     $ 21,354  
                   

    Adjusted Net Profit and Adjusted EPS

         
        Three months ended
        December 31,
        2024       20231  
    Net profit $ (976 )   $ 5,525  
    Share based compensation   1,091       1,190  
    Restructuring expense   692       —  
    Mergers and acquisition costs   2,320       1,980  
    Amortization of intangibles   7,334       5,325  
    Adjusted net profit   10,461       14,020  
    Weighted average number of common shares basic   11,773,465       11,812,574  
    Adjusted EPS Basic   0.89       1.19  
     Adjusted EPS Diluted $ 0.88     $ 1.17  
                   

    Operating Free Cash Flow

         
        Three months ended
        December 31,
        2024       20231  
    Cash flows generated from operating activities (free cash flow) $ 4,382     $ 17,538  
    Adjustments:          
    M&A costs included in operating activities   199       650  
    Change in non-cash working capital   8,479       (971)  
    Operating free cash flow $ 13,060     $ 17,217  
    Operating free cash flow per share – basic   1.11       1.46  
    Operating free cash flow per share – diluted   1.10       1.44  
    Operating free cash flow conversion   73 %     81 %
                   

    Net Debt to Adjusted EBITDA

       
       
      December 31,     September 30,
        2024       20231  
    Cash $ 61,040     $ 52,267  
    Debt facility   115,750       93,750  
    Net debt (net cash)   54,710       41,483  
    Trailing twelve month adjusted EBITDA   88,602       65,987  
    Net debt to adjusted EBITDA   0.6       0.6  
                   

    Operating free cash flow measures the company’s cash profitability after required capital spending when excluding working capital changes. The Company’s ability to convert adjusted EBITDA to operating free cash flow is critical for the long term success of its strategic growth. These measurements better align the reporting of our results and improve comparability against our peers. We believe that securities analysts, investors and other interested parties frequently use non-GAAP measures in the evaluation of issuers. Management also uses non-GAAP measures in order to facilitate operating performance comparisons from period to period, prepare annual operating budgets and assess our ability to meet our capital expenditure and working capital requirements. Non-GAAP measures should not be considered a substitute for or be considered in isolation from measures prepared in accordance with IFRS. Investors are encouraged to review our financial statements and disclosures in their entirety and are cautioned not to put undue reliance on non-GAAP measures and view them in conjunction with the most comparable IFRS financial measures. The Company has reconciled adjusted profit to the most comparable IFRS financial measure as shown above.

    The MIL Network –

  • MIL-OSI Economics: Moody’s Corporation Reports Results for Fourth Quarter and Full Year 2024; Sets Outlook for 2025

    Source: Moody’s

    Headline: Moody’s Corporation Reports Results for Fourth Quarter and Full Year 2024; Sets Outlook for 2025

    Moody’s Corporation Reports Results for Fourth Quarter and Full Year 2024; Sets Outlook for 2025

    NEW YORK–(BUSINESS WIRE)– Moody’s Corporation (NYSE: MCO) today announced results for the fourth quarter and full year 2024, provided its outlook for full year 2025 and updated medium-term guidance.

    The Fourth Quarter and Full Year 2024 Earnings Release and other earnings materials can be found on the Moody’s IR website at ir.moodys.com. In addition, the Earnings Release will be furnished with the Securities and Exchange Commission (SEC) on a Form 8-K and will be available on the SEC website at www.sec.gov.

    “Moody’s delivered a strong finish in Q4, capping a year of incredible achievements with full year revenue growth of 20%,” said Rob Fauber, President and Chief Executive Officer of Moody’s. “We sit at the intersection of deep currents that are transforming the way companies do business and markets function. The investments we’ve made in our platform, data and product innovation, paired with disciplined execution, put us in a position to capitalize on these durable demand drivers for both businesses.”

    Teleconference Details:

    Date and Time

    February 13, 2025, at 11:30 a.m. ET

    Webcast

    The webcast and its replay can be accessed through Moody’s Investor Relations website, ir.moodys.com within “Events & Presentations”.

    Dial In

    U.S. and Canada

    +1-888-596-4144

    Other callers

    +1-646-968-2525

    Passcode

    515 6491

    Dial In Replay

    A replay will be available immediately after the call on February 13, 2025 and until February 20, 2025.

    U.S. and Canada

    +1-800-770-2030

    Other callers

    +1-609-800-9909

    Confirmation code

    515 6491

    For further information, please contact Investor Relations at ir@moodys.com.

    ABOUT Moody’s

    In a world shaped by increasingly interconnected risks, Moody’s (NYSE:MCO) data, insights, and innovative technologies help customers develop a holistic view of their world and unlock opportunities. With a rich history of experience in global markets and a diverse workforce of approximately 16,000 across more than 40 countries, Moody’s gives customers the comprehensive perspective needed to act with confidence and thrive.

    Source: Moody’s Corporation Investor Relations

    MIL OSI Economics –

  • MIL-OSI Asia-Pac: Taking the ‘Vocal for Local’ movement forward, 24th Divya Kala Mela to be organized from 14th – 24th February 2025, at Gulshan Ground, Jammu

    Source: Government of India

    Taking the ‘Vocal for Local’ movement forward, 24th Divya Kala Mela to be organized from 14th – 24th February 2025, at Gulshan Ground, Jammu

    100 Divyang Artisans, Artists and Entrepreneurs from around 20 States/UTs to showcase a diverse array of Products and Cultural Diversity

    Posted On: 13 FEB 2025 4:22PM by PIB Delhi

    The Department of Empowerment of Persons with Disabilities (Divyangjan) (DEPwD), under the Union Ministry of Social Justice and Empowerment, in collaboration with the National Divyangjan Finance and Development Corporation (NDFDC), is set to host the 24th Divya Kala Mela at Gulshan Ground, Jammu, from 14th to 24th February, 2025. The event is scheduled to be inaugurated tomorrow by the Union Minister for Social Justice and Empowerment, Dr. Virendra Kumar, along with esteemed dignitaries and officials.

    An embodiment of Prime Minister Shri Narendra Modi’s vision of ‘Vocal for Local’, this unique and vibrant event aims to showcase the handmade products, skills, and craftsmanship of Divyang (PwD) entrepreneurs and artisans from across the country. The mela will be a grand platform for economic empowerment, offering visitors an unforgettable experience of rich and diverse products from various states, including handicrafts, handlooms, embroidery works, packaged food, eco-friendly products, jewelry, and much more. The fair will be open daily from 11:00 AM to 9:00 PM.

    A Movement Towards Economic Inclusion

    The Divya Kala Mela is a pioneering initiative dedicated to empowering Divyang artisans by providing them with marketing opportunities and a chance to display their exceptional talent. It is part of a nationwide movement, with previous editions successfully held in Delhi, Mumbai, Bhopal, Guwahati, Jaipur, Bengaluru, Chennai, Patna, Nagpur, Pune, and many other cities across the country. The Jammu edition will witness participation from around 100 Divyang artisans and entrepreneurs representing approximately 20 states and Union Territories. The categories of products on display include:

    • Home Décor & Lifestyle
    • Clothing and Textiles
    • Stationery and Eco-friendly Products
    • Packaged and Organic Food
    • Toys and Gifts
    • Personal Accessories, Jewellery, and Clutch Bags

    Cultural Extravaganza & Special Attractions

    The 11-day fair will not only be a shopping destination but also a cultural hub, featuring captivating performances by Divyang artists and renowned professionals. Additionally, visitors can enjoy regional delicacies from across India at the event. A highlight of the event will be a special cultural programme, ‘Divya Kala Shakti’, presented by Divyang artists on 24th February, 2025.

    An Inclusive Experience for All

    In addition to the exhibition and performances, the Mela will feature interactive experience zones tailored for different disabilities, Divyangjan sports activities, and exhibitions of new assistive aids and appliances. This holistic approach ensures that the event is not just a marketplace but a celebration of ability, inclusion, and empowerment.

    *****

    VM

    (Release ID: 2102765) Visitor Counter : 66

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Startups in the North Eastern Region

    Source: Government of India (2)

    Posted On: 13 FEB 2025 2:01PM by PIB Delhi

    The Government, with an intent to build a strong ecosystem for nurturing innovation, startups and encouraging investments in the startup ecosystem of the country launched the Startup India initiative on 16th January 2016. The State-wise number of entities in the NER which have been recognized as startups by DPIIT as on 31st December 2024 are provided below:

    State/UT

    Number of entities which have recognized as startups by DPIIT

    Arunachal Pradesh

    47

    Assam

    1487

    Manipur

    179

    Meghalaya

    62

    Mizoram

    41

    Nagaland

    85

    Sikkim

    12

    Tripura

    141

    Total

    2054

    In addition to the above, North Eastern Development Finance Corporation Ltd., a NBFC under the administrative control of the Ministry of Development of North Eastern Region through the North East Enterprise Development Scheme (NEEDS) scheme has been supporting first-generation entrepreneurs for developing start-up ecosystem of North East Region of India.

    This information was given by the Minister of State of the Ministry of Development of North Eastern Region Dr. Sukanta Majumdar in a written reply to a question in Rajya Sabha today.

    *****

    Samrat/ Dheeraj /Allen:donerpib[at]gmail[dot]com

    (Release ID: 2102674) Visitor Counter : 17

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Probationers of Indian Civil Accounts Service, Indian Post and Telecommunication (Finance & Accounts) Service, Indian Railway Management Service (Accounts) and Indian Postal Service call on the President

    Source: Government of India (2)

    Posted On: 13 FEB 2025 12:20PM by PIB Delhi

    A group of probationers of Indian Civil Accounts Service, Indian Post and Telecommunication (Finance & Accounts) Service, Indian Railway Management Service (Accounts) and Indian Postal Service called on the President of India, Smt Droupadi Murmu at Rashtrapati Bhavan today (February 13, 2025). 

    Speaking on the occasion, the President said that the young officers have the opportunity to contribute directly to nation’s development and prosperity through their domain of functioning, be it managing public finances or ensuring seamless connectivity and communication across the country. She told them that as India moves towards sustainable and inclusive development while focusing on innovation and digital initiatives, young civil servants like them, have an important responsibility to shoulder. 

    The President said that there is an ever-rising expectation among public for greater speed and efficiency in service delivery, along with increased transparency and accountability. To cater to these requirements, it is essential for the government departments to modernize and digitize their systems by making best use of emerging technologies. Such technologies include machine learning, data analytics, blockchain technology and artificial intelligence. She urged young officers to keep themselves abreast of advanced technologies and skills, and strive to create more citizen-centric, efficient and transparent governance systems. She expressed confidence that they will make all efforts not only to excel in their individual careers, but also to contribute to effective delivery of government services to the people of India.

     

    Click here to see the President’s speech

    ***

    MJPS/SR/SKS

    (Release ID: 2102631) Visitor Counter : 40

    MIL OSI Asia Pacific News –

  • MIL-OSI: Brookfield Corporation Reports Record 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    Distributable Earnings Before Realizations Increased 15% to a Record $4.9 billion or $3.07 Per Share

    Quarterly Dividend Raised by 13%

    BROOKFIELD, NEWS, Feb. 13, 2025 (GLOBE NEWSWIRE) — Brookfield Corporation (NYSE: BN, TSX: BN) announced record financial results for the year ended December 31, 2024.

    Nick Goodman, President of Brookfield Corporation, said, “We delivered record financial results in 2024, with strong contributions from each of our businesses. Our asset management business had inflows of over $135 billion, our wealth solutions business is now firmly established as a top-tier annuity writer in the U.S., and our operating businesses continue to generate high-quality and stable cash flows.”

    He continued, “We expect the positive momentum in each of our businesses to continue this year. Our access to scale capital remains very strong and with transaction activity expected to pick up throughout 2025, we are well positioned to continue to generate strong growth in our cash flows and intrinsic value.”

    Operating Results

    Distributable earnings (“DE”) before realizations increased by 24% and 15% on a per share basis compared to the prior year periods.

    Unaudited
    For the periods ended December 31
    (US$ millions, except per share amounts)    		 Three Months Ended   Years Ended
      2024     2023     2024     2023
    Net income of consolidated business1 $ 101   $ 3,134   $ 1,853   $ 5,105
    Net income attributable to Brookfield shareholders2   432     699     641     1,130
                   
    Distributable earnings before realizations2,3   1,498     1,209     4,871     4,223
    – Per Brookfield share2,3   0.94     0.76     3.07     2.66
                   
    Distributable earnings2,3   1,606     1,312     6,274     4,806
    – Per Brookfield share2,3   1.01     0.83     3.96     3.03

    See endnotes on page 8.

    Total consolidated net income was $101 million in the quarter and $1.9 billion for the year. Distributable earnings before realizations were a record $1.5 billion ($0.94/share) for the quarter and $4.9 billion ($3.07/share) for the year.

    Our asset management business generated a 17% increase in fee-related earnings compared to the prior year quarter, benefiting from strong fundraising momentum and the scaling of its credit platform through strategic partnerships.

    Wealth solutions earnings nearly doubled compared to the prior year, on the back of the acquisition of American Equity Life (“AEL”), organic growth and the attractive returns on our investment portfolio.

    Our operating businesses continue to deliver stable and growing cash flows, underpinned by the strong earnings of our renewable power and transition, infrastructure and private equity businesses and 4% growth in same-store net operating income (“NOI”) from our core real estate portfolio.

    During the quarter and for the year, earnings from realizations were $108 million and $1.4 billion, with total DE for the quarter and for the year of $1.6 billion ($1.01/share) and $6.3 billion ($3.96/share), respectively.

    Regular Dividend Declaration

    The Board declared a 13% increase in the quarterly dividend for Brookfield Corporation to $0.09 per share (representing $0.36 per annum), payable on March 31, 2025 to shareholders of record as at the close of business on March 14, 2025. The Board also declared the regular monthly and quarterly dividends on our preferred shares.

    Operating Highlights

    Distributable earnings before realizations were a record $1.5 billion ($0.94/share) for the quarter and $4.9 billion ($3.07/share) for the year, representing an increase of 24% and 15% on a per share basis over the prior year periods, respectively. Total distributable earnings were $1.6 billion ($1.01/share) for the quarter and $6.3 billion ($3.96/share) for the year.

    Asset Management:

    • DE was $694 million ($0.44/share) in the quarter and $2.6 billion ($1.67/share) for the year.
    • Fee-related earnings grew by 17% compared to the prior year quarter, driven by an 18% increase in fee-bearing capital over the prior year to $539 billion as at December 31, 2024. Total inflows were over $135 billion in 2024.
    • Our latest round of flagship funds have raised approximately $40 billion across our second global transition fund strategy, our fifth opportunistic real estate fund strategy, and our flagship opportunistic credit fund strategy. Heading into 2025, we expect to hold final closes for our latest flagship funds and continue to actively deploy capital, which should contribute to strong earnings growth.

    Wealth Solutions:

    • Distributable operating earnings were $421 million ($0.26/share) in the quarter and $1.4 billion ($0.85/share) for the year.
    • Insurance assets increased to over $120 billion, as we originated approximately $19 billion of retail and institutional annuity sales in 2024. We continue to diversify the business by growing our pension risk transfer capabilities and expanding into new markets. An example of this is the completion of our first reinsurance transaction in the U.K., at $1.3 billion which closed in the fourth quarter.
    • The average investment portfolio yield was 5.4%, 1.8% higher than the average cost of capital. As we continue to rotate the investment portfolio, annualized earnings for the business are well positioned to grow from approximately $1.6 billion today to $2 billion in the near term.
    • We are raising close to $2 billion of retail capital per month via our combined wealth solutions platforms.

    Operating Businesses:

    • DE was $562 million ($0.35/share) in the quarter and $1.6 billion ($1.03/share) for the year.
    • Operating Funds from Operations in our renewable power, transition and infrastructure businesses increased by 10% over the prior year. Our private equity business continues to contribute resilient, high-quality cash flows. Our core real estate portfolio continues to grow its same-store NOI, delivering a 4% increase over the prior year quarter.
    • In our real estate business, we signed close to 27 million square feet of office and retail leases during the year. Rents on the newly signed leases were approximately 35% higher compared to those leases expiring in the fourth quarter. Also during the fourth quarter, our DE benefited from monetizing a land parcel within our North American residential operations.
    • As real estate markets continue to recover in the coming years, we expect earnings and valuations of the business to strengthen.

    Earnings from the monetization of mature assets were $108 million ($0.07/share) for the quarter and $1.4 billion ($0.89/share) for the year.

    • During the year, we closed nearly $40 billion of asset sales at strong returns, which include a portfolio of U.S. manufactured housing assets and several renewable power and infrastructure assets globally. With the pick-up in transaction activity, we expect this momentum to accelerate into 2025.
    • Total accumulated unrealized carried interest was $11.5 billion at year end, representing an increase of 13% over the prior year, net of carried interest realized into income. We recognized approximately $400 million of net realized carried interest into income in 2024, and we expect to realize significant carried interest as we actively monetize assets in the coming years.

    We ended the quarter with a record $160 billion of capital available to deploy into new investments.

    • We have record deployable capital of approximately $160 billion, which includes $68 billion of cash, financial assets and undrawn credit lines at the Corporation, our affiliates and our wealth solutions business.
    • Our balance sheet is robust and remains conservatively capitalized. Our corporate debt at the Corporation has a weighted-average term of 14 years and today we have no maturities through to the end of 2025.
    • Over the year, we returned $1.5 billion to shareholders through regular dividends and share repurchases, with total share buybacks of approximately $1 billion. In 2025 so far, we have repurchased over $200 million of shares.
    • We had an active year in the capital markets. We executed approximately $135 billion of financings, including issuing $700 million of 30-year subordinated notes and a $1 billion, 7-year non-recourse loan to a large institutional partner of ours, the proceeds of which will mainly be directed towards share repurchases.

    CONSOLIDATED BALANCE SHEETS

    Unaudited
    (US$ millions)    		   December 31   December 31
        2024     2023
    Assets        
    Cash and cash equivalents   $ 15,051   $ 11,222
    Other financial assets     25,887     28,324
    Accounts receivable and other     40,509     31,001
    Inventory     8,458     11,412
    Equity accounted investments     68,310     59,124
    Investment properties     103,665     124,152
    Property, plant and equipment     153,019     147,617
    Intangible assets     36,072     38,994
    Goodwill     35,730     34,911
    Deferred income tax assets     3,723     3,338
    Total Assets   $ 490,424   $ 490,095
             
    Liabilities and Equity        
    Corporate borrowings   $ 14,232   $ 12,160
    Accounts payable and other     60,223     59,011
    Non-recourse borrowings     220,560     221,550
    Subsidiary equity obligations     4,759     4,145
    Deferred income tax liabilities     25,267     24,987
             
    Equity        
    Non-controlling interests in net assets $ 119,406   $ 122,465  
    Preferred equity   4,103     4,103  
    Common equity   41,874   165,383   41,674   168,242
    Total Equity     165,383     168,242
    Total Liabilities and Equity   $ 490,424   $ 490,095


    CONSOLIDATED STATEMENTS OF OPERATIONS

    Unaudited
    For the periods ended December 31
    (US$ millions, except per share amounts)    		 Three Months Ended   Years Ended
      2024       2023       2024       2023  
    Revenues $ 19,426     $ 24,518     $ 86,006     $ 95,924  
    Direct costs1   (11,977 )     (18,168 )     (58,199 )     (72,334 )
    Other income and gains   52       4,256       1,247       6,501  
    Equity accounted income   1,034       429       2,729       2,068  
    Interest expense              
    – Corporate borrowings   (183 )     (142 )     (727 )     (596 )
    – Non-recourse borrowings              
    Same-store   (3,474 )     (3,903 )     (14,889 )     (14,907 )
    Acquisitions, net of dispositions2   (136 )     —       (319 )     —  
    Upfinancings2   (186 )     —       (680 )     —  
    Corporate costs   (20 )     (16 )     (76 )     (69 )
    Fair value changes   (1,759 )     (1,326 )     (2,520 )     (1,396 )
    Depreciation and amortization   (2,417 )     (2,427 )     (9,737 )     (9,075 )
    Income tax   (259 )     (87 )     (982 )     (1,011 )
    Net income   101       3,134       1,853       5,105  
    Loss (income) attributable to non-controlling interests   331       (2,435 )     (1,212 )     (3,975 )
    Net income attributable to Brookfield shareholders $ 432     $ 699     $ 641     $ 1,130  
                   
    Net income per share              
    Diluted $ 0.25     $ 0.42     $ 0.31     $ 0.61  
    Basic   0.26       0.43       0.31       0.62  

    1. Direct costs disclosed above exclude depreciation and amortization expense.
    2. Interest expense from acquisitions, net of dispositions, and upfinancings completed for the year ended December 31, 2024.

    SUMMARIZED FINANCIAL RESULTS

    DISTRIBUTABLE EARNINGS

    Unaudited
    For the periods ended December 31
    (US$ millions)    		 Three Months Ended   Years Ended
      2024       2023       2024       2023  
    Asset management $ 694     $ 649     $ 2,645     $ 2,554  
                   
    Wealth solutions   421       253       1,350       740  
                   
    BEP   107       102       428       417  
    BIP   84       79       336       319  
    BBU   8       9       35       36  
    BPG   351       218       855       733  
    Other   12       (8 )     (28 )     (43 )
    Operating businesses   562       400       1,626       1,462  
                   
    Corporate costs and other   (179 )     (93 )     (750 )     (533 )
    Distributable earnings before realizations1   1,498       1,209       4,871       4,223  
    Realized carried interest, net   108       100       403       570  
    Disposition gains from principal investments   —       3       1,000       13  
    Distributable earnings1 $ 1,606     $ 1,312     $ 6,274     $ 4,806  

    1. Non-IFRS measure – see Non-IFRS and Performance Measures section on page 8.

    RECONCILIATION OF NET INCOME TO DISTRIBUTABLE EARNINGS

    Unaudited
    For the periods ended December 31
    (US$ millions)    		 Three Months Ended   Years Ended
      2024       2023       2024       2023  
    Net income $ 101     $ 3,134     $ 1,853     $ 5,105  
    Financial statement components not included in DE:              
    Equity accounted fair value changes and other items   448       1,097       2,679       2,902  
    Fair value changes and other   1,685       1,549       2,652       1,952  
    Depreciation and amortization   2,417       2,427       9,737       9,075  
    Disposition gains in net income   (659 )     (4,424 )     (1,234 )     (6,080 )
    Deferred income taxes   82       (416 )     (341 )     (897 )
    Non-controlling interests in the above items1   (2,560 )     (2,064 )     (10,570 )     (7,941 )
    Less: realized carried interest, net   (108 )     (100 )     (403 )     (570 )
    Working capital, net   92       6       498       677  
    Distributable earnings before realizations2   1,498       1,209       4,871       4,223  
    Realized carried interest, net3   108       100       403       570  
    Disposition gains from principal investments   —       3       1,000       13  
    Distributable earnings2 $ 1,606     $ 1,312     $ 6,274     $ 4,806  

    1. Amounts attributable to non-controlling interests are calculated based on the economic ownership interests held by non-controlling interests in consolidated subsidiaries. By adjusting DE attributable to non-controlling interests, we are able to remove the portion of DE earned at non-wholly owned subsidiaries that is not attributable to Brookfield.
    2. Non-IFRS measure – see Non-IFRS and Performance Measures section on page 8.
    3. Includes our share of Oaktree’s distributable earnings attributable to realized carried interest.

    EARNINGS PER SHARE

    Unaudited
    For the periods ended December 31
    (millions, except per share amounts)    		 Three Months Ended   Years Ended
      2024       2023       2024       2023  
    Net income $ 101     $ 3,134     $ 1,853     $ 5,105  
    Non-controlling interests   331       (2,435 )     (1,212 )     (3,975 )
    Net income attributable to shareholders   432       699       641       1,130  
    Preferred share dividends1   (41 )     (43 )     (168 )     (166 )
    Net income available to common shareholders   391       656       473       964  
    Dilutive impact of exchangeable shares of affiliate   3       3       12       5  
    Net income available to common shareholders including dilutive impact of exchangeable shares $ 394     $ 659     $ 485     $ 969  
                   
    Weighted average shares   1,508.3       1,540.1       1,511.5       1,558.5  
    Dilutive effect of conversion of options and escrowed shares using treasury stock method2 and exchangeable shares of affiliate   81.1       40.8       73.1       29.7  
    Shares and share equivalents   1,589.4       1,580.9       1,584.6       1,588.2  
                   
    Diluted earnings per share3 $ 0.25     $ 0.42     $ 0.31     $ 0.61  

    1. Excludes dividends paid on perpetual subordinated notes of $2 million (2023 – $2 million) and $10 million (2023 – $10 million) for the three months and year ended December 31, 2024, which are recognized within net income.
    2. Includes management share option plan and escrowed stock plan.
    3. Per share amounts are inclusive of dilutive effect of mandatorily redeemable preferred shares held in a consolidated subsidiary.

    Additional Information

    The Letter to Shareholders and the company’s Supplemental Information for the three months and year ended December 31, 2024, contain further information on the company’s strategy, operations and financial results. Shareholders are encouraged to read these documents, which are available on the company’s website.

    The statements contained herein are based primarily on information that has been extracted from our financial statements for the periods ended December 31, 2024, which have been prepared using IFRS, as issued by the IASB. The amounts have not been audited by Brookfield Corporation’s external auditor.

    Brookfield Corporation’s Board of Directors has reviewed and approved this document, including the summarized unaudited consolidated financial statements prior to its release.

    Information on our dividends can be found on our website under Stock & Distributions/Distribution History.

    Quarterly Earnings Call Details

    Investors, analysts and other interested parties can access Brookfield Corporation’s 2024 Fourth Quarter Results as well as the Shareholders’ Letter and Supplemental Information on Brookfield Corporation’s website under the Reports & Filings section at www.bn.brookfield.com.

    To participate in the Conference Call today at 10:00 a.m. ET, please pre-register at https://register.vevent.com/register/BIf7f2f2b5bdd84f708b0fc3cd0fd714dd. Upon registering, you will be emailed a dial-in number, and unique PIN. The Conference Call will also be webcast live at https://edge.media-server.com/mmc/p/5vbgiehc. For those unable to participate in the Conference Call, the telephone replay will be archived and available until February 13, 2026. To access this rebroadcast, please visit: https://edge.media-server.com/mmc/p/5vbgiehc. 

    About Brookfield Corporation

    Brookfield Corporation is a leading global investment firm focused on building long-term wealth for institutions and individuals around the world. We have three core businesses: Alternative Asset Management, Wealth Solutions, and our Operating Businesses which are in renewable power, infrastructure, business and industrial services, and real estate.

    We have a track record of delivering 15%+ annualized returns to shareholders for over 30 years, supported by our unrivaled investment and operational experience. Our conservatively managed balance sheet, extensive operational experience, and global sourcing networks allow us to consistently access unique opportunities. At the center of our success is the Brookfield Ecosystem, which is based on the fundamental principle that each group within Brookfield benefits from being part of the broader organization. Brookfield Corporation is publicly traded in New York and Toronto (NYSE: BN, TSX: BN).

    Please note that Brookfield Corporation’s previous audited annual and unaudited quarterly reports have been filed on EDGAR and SEDAR+ and can also be found in the investor section of its website at www.brookfield.com. Hard copies of the annual and quarterly reports can be obtained free of charge upon request.

    For more information, please visit our website at www.bn.brookfield.com or contact:

    Media:
    Kerrie McHugh
    Tel: (212) 618-3469
    Email: kerrie.mchugh@brookfield.com    		   Investor Relations:
    Angela Yulo
    Tel: (416) 943-7955
    Email: angela.yulo@brookfield.com
         

    Non-IFRS and Performance Measures

    This news release and accompanying financial information are based on International Financial Reporting Standards (“IFRS”), as issued by the International Accounting Standards Board (“IASB”), unless otherwise noted.

    We make reference to Distributable Earnings (“DE”). We define DE as the sum of distributable earnings from our asset management business, distributable operating earnings from our wealth solutions business, distributions received from our ownership of investments, realized carried interest and disposition gains from principal investments, net of earnings from our Corporate Activities, preferred share dividends and equity-based compensation costs. We also make reference to DE before realizations, which refers to DE before realized carried interest and realized disposition gains from principal investments. We believe these measures provide insight into earnings received by the company that are available for distribution to common shareholders or to be reinvested into the business.

    Realized carried interest and realized disposition gains are further described below:

    • Realized Carried Interest represents our contractual share of investment gains generated within a private fund after considering our clients’ minimum return requirements. Realized carried interest is determined on third-party capital that is no longer subject to future investment performance.
    • Realized Disposition Gains from Principal Investments are included in DE because we consider the purchase and sale of assets from our directly held investments to be a normal part of the company’s business. Realized disposition gains include gains and losses recorded in net income and equity in the current period, and are adjusted to include fair value changes and revaluation surplus balances recorded in prior periods which were not included in prior period DE.

    We use DE to assess our operating results and the value of Brookfield Corporation’s business and believe that many shareholders and analysts also find these measures of value to them.

    We make reference to Operating Funds from Operations (“Operating FFO”). We define Operating FFO as the company’s share of revenues less direct costs and interest expenses; excludes realized carried interest and disposition gains, fair value changes, depreciation and amortization and deferred income taxes; and includes our proportionate share of FFO from operating activities recorded by equity accounted investments on a fully diluted basis.

    We make reference to Net Operating Income (“NOI”), which refers to the revenues from our operations less direct expenses before the impact of depreciation and amortization within our real estate business. We present this measure as we believe it is a key indicator of our ability to impact the operating performance of our properties. As NOI excludes non-recurring items and depreciation and amortization of real estate assets, it provides a performance measure that, when compared to prior periods, reflects the impact of operations from trends in occupancy rates and rental rates.

    We disclose a number of financial measures in this news release that are calculated and presented using methodologies other than in accordance with IFRS. These financial measures, which include DE, should not be considered as the sole measure of our performance and should not be considered in isolation from, or as a substitute for, similar financial measures calculated in accordance with IFRS. We caution readers that these non-IFRS financial measures or other financial metrics are not standardized under IFRS and may differ from the financial measures or other financial metrics disclosed by other businesses and, as a result, may not be comparable to similar measures presented by other issuers and entities.

    We provide additional information on key terms and non-IFRS measures in our filings available at www.bn.brookfield.com.

    1. Consolidated basis – includes amounts attributable to non-controlling interests.
    2. Excludes amounts attributable to non-controlling interests.
    3. See Reconciliation of Net Income to Distributable Earnings on page 5 and Non-IFRS and Performance Measures section on page 8.

    Notice to Readers

    Brookfield Corporation is not making any offer or invitation of any kind by communication of this news release and under no circumstance is it to be construed as a prospectus or an advertisement.

    This news release contains “forward-looking information” within the meaning of Canadian provincial securities laws and “forward-looking statements” within the meaning of the U.S. Securities Act of 1933, the U.S. Securities Exchange Act of 1934, “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and in any applicable Canadian securities regulations (collectively, “forward-looking statements”). Forward- looking statements include statements that are predictive in nature, depend upon or refer to future results, events or conditions, and include, but are not limited to, statements which reflect management’s current estimates, beliefs and assumptions regarding the operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, strategies, capital management and outlook of Brookfield Corporation and its subsidiaries, as well as the outlook for North American and international economies for the current fiscal year and subsequent periods, and which in turn are based on our experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. The estimates, beliefs and assumptions of Brookfield Corporation are inherently subject to significant business, economic, competitive and other uncertainties and contingencies regarding future events and as such, are subject to change. Forward-looking statements are typically identified by words such as “expect,” “anticipate,” “believe,” “foresee,” “could,” “estimate,” “goal,” “intend,” “plan,” “seek,” “strive,” “will,” “may” and “should” and similar expressions. In particular, the forward-looking statements contained in this news release include statements referring to the impact of current market or economic conditions on our business, the future state of the economy or the securities market, the anticipated allocation and deployment of our capital, our fundraising targets, and our target growth objectives.

    Although Brookfield Corporation believes that such forward-looking statements are based upon reasonable estimates, beliefs and assumptions, actual results may differ materially from the forward-looking statements. Factors that could cause actual results to differ materially from those contemplated or implied by forward-looking statements include, but are not limited to: (i) returns that are lower than target; (ii) the impact or unanticipated impact of general economic, political and market factors in the countries in which we do business; (iii) the behavior of financial markets, including fluctuations in interest and foreign exchange rates and heightened inflationary pressures; (iv) global equity and capital markets and the availability of equity and debt financing and refinancing within these markets; (v) strategic actions including acquisitions and dispositions; the ability to complete and effectively integrate acquisitions into existing operations and the ability to attain expected benefits; (vi) changes in accounting policies and methods used to report financial condition (including uncertainties associated with critical accounting assumptions and estimates); (vii) the ability to appropriately manage human capital; (viii) the effect of applying future accounting changes; (ix) business competition; (x) operational and reputational risks; (xi) technological change; (xii) changes in government regulation and legislation within the countries in which we operate; (xiii) governmental investigations and sanctions; (xiv) litigation; (xv) changes in tax laws; (xvi) ability to collect amounts owed; (xvii) catastrophic events, such as earthquakes, hurricanes and epidemics/pandemics; (xviii) the possible impact of international conflicts and other developments including terrorist acts and cyberterrorism; (xix) the introduction, withdrawal, success and timing of business initiatives and strategies; (xx) the failure of effective disclosure controls and procedures and internal controls over financial reporting and other risks; (xxi) health, safety and environmental risks; (xxii) the maintenance of adequate insurance coverage; (xxiii) the existence of information barriers between certain businesses within our asset management operations; (xxiv) risks specific to our business segments including asset management, wealth solutions, renewable power and transition, infrastructure, private equity, real estate and corporate activities; and (xxv) factors detailed from time to time in our documents filed with the securities regulators in Canada and the United States.

    We caution that the foregoing list of important factors that may affect future results is not exhaustive and other factors could also adversely affect future results. Readers are urged to consider these risks, as well as other uncertainties, factors and assumptions carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements, which are based only on information available to us as of the date of this news release or such other date specified herein. Except as required by law, Brookfield Corporation undertakes no obligation to publicly update or revise any forward- looking statements, whether written or oral, that may be as a result of new information, future events or otherwise.

    Past performance is not indicative nor a guarantee of future results. There can be no assurance that comparable results will be achieved in the future, that future investments will be similar to historic investments discussed herein, that targeted returns, growth objectives, diversification or asset allocations will be met or that an investment strategy or investment objectives will be achieved (because of economic conditions, the availability of appropriate opportunities or otherwise).

    Target returns and growth objectives set forth in this news release are for illustrative and informational purposes only and have been presented based on various assumptions made by Brookfield Corporation in relation to the investment strategies being pursued, any of which may prove to be incorrect. There can be no assurance that targeted returns or growth objectives will be achieved. Due to various risks, uncertainties and changes (including changes in economic, operational, political or other circumstances) beyond Brookfield Corporation’s control, the actual performance of the business could differ materially from the target returns and growth objectives set forth herein. In addition, industry experts may disagree with the assumptions used in presenting the target returns and growth objectives. No assurance, representation or warranty is made by any person that the target returns or growth objectives will be achieved, and undue reliance should not be put on them.

    When we speak about our wealth solutions business or Brookfield Wealth Solutions, we are referring to Brookfield’s investments in this business that supported the acquisitions of its underlying operating subsidiaries.

    The MIL Network –

  • MIL-OSI: Onity Group Announces Full-Year and Fourth Quarter 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    WEST PALM BEACH, Fla., Feb. 13, 2025 (GLOBE NEWSWIRE) — Onity Group Inc. (NYSE: ONIT) (“Onity” or the “Company”) today announced its full-year and fourth quarter 2024 results and provided a business update.

    Full-Year 2024:

    • Net income attributable to common stockholders of $33 million, highest since 2013; diluted EPS of $4.13; return on equity (“ROE”) of 8%
    • Adjusted pre-tax income* of $90 million, resulting in adjusted ROE* of 20%
    • $86 billion in total servicing additions ($47 billion in subservicing additions)
    • Book value per share improved $4 year-over-year to $56 as of December 31, 2024
    • Reduced corporate debt by $145 million; debt-to-equity ratio of 2.96 to 1

    Fourth Quarter 2024:

    • Net loss attributable to common stockholders of $29 million; diluted EPS of ($3.63); ROE of (25%); includes previously disclosed $41 million of net corporate debt restructuring charges
    • Adjusted pre-tax income* of $11 million, resulting in annualized adjusted ROE* of 10%
    • $25 billion in total servicing additions ($8 billion in subservicing additions)
    • Successfully executed planned corporate debt restructuring, closed the sale of the Company’s joint venture interest in MAV and the Waterfall asset purchase transaction

    2025 Outlook:

    • Increased adjusted ROE* guidance to 16% – 18%

    * See “Note Regarding Non-GAAP Financial Measures” below

    “In 2024 we delivered powerful financial results, with net income reaching an eleven-year high, adjusted pre-tax income nearly doubling from the prior year, and adjusted ROE exceeding our guidance,” said Onity Group Chair, President and CEO Glen Messina. “The year was marked by several significant milestones, including successfully completing a series of transactions to reduce our corporate debt, lower cost and extend maturities, rebranding to Onity, and expanding our digital capabilities. Fourth quarter results were consistent with the guidance we provided at the end of the third quarter, and even with the previously disclosed debt restructuring costs, we ended the year with book value per share at $56, up $4 from prior year-end.”

    Messina continued, “Our results demonstrate that our best-in-class servicing platform and broad originations capabilities across our balanced business continued to deliver strong operating and financial performance regardless of interest rate cycles. I’d like to thank our global team and business partners who helped to enable a successful year. Looking ahead, I am confident in our strategy, team and capabilities. I believe we are well positioned to accelerate growth, improve returns and deliver substantial value to our customers, business partners and shareholders in 2025 and beyond.”

    Additional Full-Year and Fourth Quarter 2024 Operating and Business Highlights

    • Funded recapture volume for full-year 2024 up 2.5x over 2023; fourth quarter 2024 up 4.2x over fourth quarter 2023 and up 64% over third quarter 2024
    • Originations volume of $30 billion in 2024, up 33% compared to 2023; $10 billion in fourth quarter, up 72% over fourth quarter 2023 and up 12% over third quarter 2024
    • Total servicing UPB of $302 billion at December 31, 2024, up $13 billion over December 31, 2023; sold $15 billion of MSR UPB servicing released above book value
    • Total liquidity (unrestricted cash plus available credit) maintained year-over-year at $248 million as of December 31, 2024
    • MSR fair value change, net of hedge, resulted in a net gain in 2024
    • Extended subservicing agreement for existing MSR Asset Vehicle LLC (“MAV”) portfolio for an initial term of five years; renewed subservicing agreement with Rithm Capital to January 31, 2026
    • Achieved HUD Tier 1 servicer rating for fourth consecutive year; recognized by 2024 Freddie Mac SHARPSM program for subservicing

    Webcast and Conference Call

    Onity will hold a conference call on Thursday, February 13, 2025, at 8:30 a.m. (ET) to review the Company’s full-year and fourth quarter 2024 operating results. All interested parties are welcome to participate. You can access the conference call by dialing (800) 274-8461 or (203) 518-9814 approximately 10 minutes prior to the call; please reference the conference ID “Onity.” Participants can also access the conference call through a live audio webcast available from the Shareholder Relations page at onitygroup.com under Events and Presentations. An investor presentation will accompany the conference call and be available by visiting the Shareholder Relations page at onitygroup.com prior to the call. A replay of the conference call will be available via the website approximately two hours after the conclusion of the call. A telephonic replay will also be available approximately three hours following the call’s completion through February 27, 2025, by dialing (844) 512-2921 or (412) 317-6671; please reference access code 11157783.

    About Onity Group

    Onity Group Inc. (NYSE: ONIT) is a leading non-bank financial services company providing mortgage servicing and originations solutions through its primary brands, PHH Mortgage and Liberty Reverse Mortgage. PHH Mortgage is one of the largest servicers in the country, focused on delivering a variety of servicing and lending programs to consumers and business clients. Liberty is one of the nation’s largest reverse mortgage lenders dedicated to providing loans that help customers meet their personal and financial needs. We are headquartered in West Palm Beach, Florida, with offices and operations in the United States, the U.S. Virgin Islands, India and the Philippines, and have been serving our customers since 1988. For additional information, please visit onitygroup.com.

    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 may be identified by a reference to a future period or by the use of forward-looking terminology. Forward-looking statements are typically identified by words such as “expect”, “believe”, “foresee”, “anticipate”, “intend”, “estimate”, “goal”, “strategy”, “plan” “target” and “project” or conditional verbs such as “will”, “may”, “should”, “could” or “would” or the negative of these terms, although not all forward-looking statements contain these words, and includes statements in this press release regarding our ability to accelerate growth, improve returns and deliver substantial value to our customers, business partners and shareholders in 2025 and beyond. Forward-looking statements by their nature address matters that are, to different degrees, uncertain. Readers should bear these factors in mind when considering such statements and should not place undue reliance on such statements.

    Forward-looking statements involve a number of assumptions, risks and uncertainties that could cause actual results to differ materially. In the past, actual results have differed from those suggested by forward looking statements and this may happen again. Important factors that could cause actual results to differ materially from those suggested by the forward-looking statements include, but are not limited to, the potential for ongoing disruption in the financial markets and in commercial activity generally as a result of U.S. and global political events, changes in monetary and fiscal policy, and other sources of instability; the impacts of inflation, employment disruption, and other financial difficulties facing our borrowers; the adequacy of our financial resources, including our sources of liquidity and ability to sell, fund and recover servicing advances, forward and reverse whole loans, future draws on existing reverse loans, and HECM and forward loan buyouts and put backs, as well as repay, renew and extend borrowings, borrow additional amounts as and when required, meet our MSR or other asset investment objectives and comply with our debt agreements, including the financial and other covenants contained in them; our ability to interpret correctly and comply with current or future liquidity, net worth and other financial and other requirements of regulators, the Federal National Mortgage Association (Fannie Mae), and Federal Home Loan Mortgage Corporation (Freddie Mac) (together, the GSEs), and the Government National Mortgage Association (Ginnie Mae), including our ability to implement a cost-effective response to Ginnie Mae’s risk-based capital requirements by the extended deadline granted to us by Ginnie Mae of May 1, 2025; our ability to timely reduce operating costs, or generate offsetting revenue, in proportion to the industry-wide decrease in originations activity; the impact of cost-reduction initiatives on our business and operations; the impact of our rebranding initiative; the amount of senior debt or common stock or that we may repurchase under any repurchase programs, the timing of such repurchases, and the long-term impact, if any, of repurchases on the trading price of our securities or our financial condition; breach or failure of Onity’s, our contractual counterparties’, or our vendors’ information technology or other security systems or privacy protections, including any failure to protect customers’ data, resulting in disruption to our operations, loss of income, reputational damage, costly litigation and regulatory penalties; our reliance on our technology vendors to adequately maintain and support our systems, including our servicing systems, loan originations and financial reporting systems, and uncertainty relating to our ability to transition to alternative vendors, if necessary, without incurring significant cost or disruption to our operations; the future of our long-term relationship with Rithm Capital Corp. (Rithm); our ability to close acquisitions of MSRs and other transactions, including the ability to obtain regulatory approvals; our ability to grow our reverse servicing business; our ability to retain clients and employees of acquired businesses, and the extent to which acquisitions and our other strategic initiatives will contribute to achieving our growth objectives; increased servicing costs based on increased borrower delinquency levels or other factors; uncertainty related to past, present or future claims, litigation, cease and desist orders and investigations regarding our servicing, foreclosure, modification, origination and other practices brought by government agencies and private parties, including state regulators, the Consumer Financial Protection Bureau (CFPB), State Attorneys General, the Securities and Exchange Commission (SEC), the Department of Justice or the Department of Housing and Urban Development (HUD); the reactions of key counterparties, including lenders, the GSEs and Ginnie Mae, to our regulatory engagements and litigation matters; increased regulatory scrutiny and media attention; any adverse developments in existing legal proceedings or the initiation of new legal proceedings; our ability to effectively manage our regulatory and contractual compliance obligations; our ability to comply with our servicing agreements, including our ability to comply with the requirements of the GSEs and Ginnie Mae and maintain our seller/servicer and other statuses with them; our ability to fund future draws on existing loans in our reverse mortgage portfolio; our servicer and credit ratings as well as other actions from various rating agencies, including any future downgrades; as well as other risks and uncertainties detailed in our reports and filings with the SEC, including our annual report on Form 10-K for the year ended December 31, 2023 and for the year ended December 31, 2024 when available. Anyone wishing to understand Onity’s business should review our SEC filings. Our forward-looking statements speak only as of the date they are made and, we disclaim any obligation to update or revise forward-looking statements whether as a result of new information, future events or otherwise.

    Note Regarding Non-GAAP Financial Measures

    This press release contains references to adjusted pre-tax income (loss) and adjusted ROE, both non-GAAP financial measures.

    We believe these non-GAAP financial measures provide a useful supplement to discussions and analysis of our financial condition, because they are measures that management uses to assess the financial performance of our operations and allocate resources. In addition, management believes that this presentation may assist investors with understanding and evaluating our initiatives to drive improved financial performance. Management believes, specifically, that the removal of fair value changes of our net MSR exposure due to changes in market interest rates and assumptions provides a useful, supplemental financial measure as it enables an assessment of our ability to generate earnings regardless of market conditions and the trends in our underlying businesses by removing the impact of fair value changes due to market interest rates and assumptions, which can vary significantly between periods. However, these measures should not be analyzed in isolation or as a substitute to analysis of our GAAP pre-tax income (loss) or GAAP pre-tax ROE nor a substitute for cash flows from operations. There are certain limitations to the analytical usefulness of the adjustments we make to GAAP pre-tax income (loss) and GAAP pre-tax ROE and, accordingly, we use these adjustments only for purposes of supplemental analysis. Non-GAAP financial measures should be viewed in addition to, and not as an alternative for, Onity’s reported results under accounting principles generally accepted in the United States. Other companies may use non-GAAP financial measures with the same or similar titles that are calculated differently to our non-GAAP financial measures. As a result, comparability may be limited. Readers are cautioned not to place undue reliance on analysis of the adjustments we make to GAAP pre-tax income (loss) and GAAP pre-tax ROE.

    The Company has not provided reconciliations of guidance for adjusted ROE, in reliance on the unreasonable efforts exception provided under Item 10(e)(1)(i)(B) of Regulation S-K. The Company is unable, without unreasonable efforts, to forecast certain items required to develop meaningful comparable GAAP financial measures. These items include the change in fair value of our net MSR exposure due to changes in market interest rates and assumptions which can vary significantly between periods and are difficult to predict in advance in order to include in a GAAP estimate.

    Notables

    In the table below, we adjust GAAP pre-tax income for the following factors: MSR valuation adjustments, expense notables, and other income statement notables. MSR valuation adjustments are comprised of changes to Forward MSR and Reverse mortgage valuations due to rates and assumption changes. Expense notables include significant legal and regulatory settlement expenses, severance and retention costs, LTIP stock price changes, consolidation of office facilities and other expenses (such as costs associated with strategic transactions). Other income statement notables include non-routine transactions that are not categorized in the above.

    Beginning with the three months ended December 31, 2024, for purposes of calculating Income Statement Notables and Adjusted Pre-Tax Income, we changed the methodology used to calculate Other Income Statement Notables to include change in fair value due to interest rates for reverse loan buyouts (reported in gain/loss on loans held for sale, at fair value). We made this change to align with the change to our risk management approach to include changes in fair value of reverse loan buyouts due to interest rates in our MSR hedge strategy, consistent with other notables, such as Forward MSR Valuation Adjustments due to rates and assumption changes, net and Reverse Mortgage Fair Value Change due to rates and assumption changes.

    Other Income Statement Notables (a component of Other Notables) for the first three quarters of 2024 have been revised from prior presentations to reflect the methodology we adopted during the fourth quarter of 2024.

     (Dollars in millions) FY’24 FY’23 Q4’24 Q3’24
    I Reported Net Income (Loss) 34 (64) (28) 21
      A. Income Tax Benefit (Expense) (5) (6) 6 (6)
    II Reported Pre-Tax Income (Loss) [I – A] 39 (58) (34) 28
      Forward MSR Valuation Adjustments due to rates and assumption changes, net (a)(b) 17 (121) 14 (1)
      Reverse Mortgage Fair Value Change due to rates and assumption changes (b)(c) (7) (3) (15) 9
    III Total MSR Valuation Adjustments due to rates and assumption changes, net 10 (124) (1) 8
      Significant legal and regulatory settlement expenses (8) 21 (2) (6)
      Severance and retention (d) (3) (7) (0) (0)
      LTIP stock price changes (e) 1 3 (1) (1)
      Office facilities consolidation (0) 0 (0) (0)
      Other expense notables (f) (1) 2 (0) 0
      B. Total Expense Notables (11) 18 (4) (7)
      C. Gain (loss) on extinguishment of debt (49) 1 (51) 0
      D. Gain on sale of MAV canopy 14   14  
      E. Other Income Statement Notables (g) (13) (2) (3) (5)
    IV Total Other Notables [B + C + D + E] (60) 17 (44) (12)
    V Total Notables (h) [III + IV] (51) (107) (45) (4)
    VI Adjusted Pre-Tax Income (i) [II – V] 90 49 11 31
    a) MSR valuation adjustments that are due to changes in market interest rates, valuation inputs or other assumptions, net of overall fair value gains / (losses) on MSR hedge, including FV changes of Pledged MSR liabilities associated with MSR transferred to MAV, Rithm and others and ESS financing liabilities that are due to changes in market interest rates, valuation inputs or other assumptions, a component of MSR valuation adjustments, net
    b) The changes in fair value due to market interest rates were measured by isolating the impact of market interest rate changes on the valuation model output as provided by our third-party valuation expert
    c) FV changes of loans HFI and HMBS related borrowings due to market interest rates and assumptions, a component of gain on reverse loans held for investment and HMBS-related borrowings, net
    d) Severance and retention due to organizational rightsizing or reorganization
    e) Long-term incentive program (LTIP) compensation expense changes attributable to stock price changes during the period
    f) Includes costs associated with but not limited to rebranding, MAV upsize, and other strategic initiatives and transactions
    g) Contains non-routine transactions including but not limited to early asset retirement and fair value assumption changes on other investments recorded in other income/expense
    h) Certain previously presented notable categories with nil numbers for each period shown have been omitted
    i) Effective in Q4’24, change in fair value due to interest rates for reverse loan buyouts is now recognized as a notable (previously reported in gain/loss on loans held for sale, at fair value); presentation of past periods has been conformed to the current presentation; without this change, adjusted pre-tax income would be $89M in FY’24, $8M in Q4’24 and $35M in Q3’24; see note titled “Note Regarding Non-GAAP Financial Measures” for more information
       

    Adjusted ROE Calculation

    (Dollars in millions) FY’24 FY’23 Q4’24 Q3’24
    I Reported Net Income (Loss) 34 (64) (28) 21
    II Notable Items (51) (107) (45) (4)
    III Income Tax Benefit (Expense) (5) (6) 6 (6)
    IV Adjusted Pre-Tax Income (Loss) [I – II – III] 90 49 11 31
    V Annualized Adjusted Pre-tax Income [IV * 4 for qtr.] 90 49 46 126
      Equity        
      A Beginning Period Equity 402 457 468 446
      C Ending Period Equity 443 402 443 468
      D Equity Impact of Notables 51 107 45 4
      B Adjusted Ending Period Equity [C + D] 493 509 488 472
    VI Average Adjusted Equity [(A + B) / 2] 448 483 478 459
    VII Adjusted ROE (a) [V / VI] 20% 10% 10% 27%
    a) Effective in Q4’24, change in fair value due to interest rates for reverse loan buyouts is now recognized as a notable (previously reported in gain/loss on loans held for sale, at fair value); presentation of past periods has been conformed to the current presentation; without this change, adjusted pre-tax income would be $89M in FY’24, $8M in Q4’24, and $35M in Q3’24; without this change, adjusted ROE would be 20% in FY’24, 7% in Q4’24, and 31% in Q3’24; see note titled “Note Regarding Non-GAAP Financial Measures” for more information
       

    Condensed Consolidated Balance Sheets (unaudited)

    Assets (Dollars in millions) December 31,
    2024    		 December 31,
    2023
    Cash and cash equivalents 184.8 201.6
    Restricted cash 80.8 53.5
    Mortgage servicing rights (MSRs), at fair value 2,466.3 2,272.2
    Advances, net 577.2 678.8
    Loans held for sale, at fair value 1,290.2 677.3
    Loans held for investment, at fair value 11,125.3 7,975.5
    Receivables, net 176.4 154.8
    Investment in equity method investee – 37.8
    Premises and equipment, net 11.0 13.1
    Other assets 111.3 106.2
    Contingent loan repurchase asset 412.2 343.0
    Total Assets 16,435.4 12,513.7
         
    Liabilities, Mezzanine & Stockholders’ Equity (Dollars in millions) December 31,
    2024    		 December 31,
    2023
    Home Equity Conversion Mortgage-Backed Securities (HMBS) related borrowings, at fair value 10,872.1 7,797.3
    Other financing liabilities, at fair value 846.9 900.0
    Advance match funded liabilities 417.1 499.7
    Mortgage loan financing facilities, net 1,528.2 710.6
    MSR financing facilities, net 957.9 916.2
    Senior notes, net 487.4 595.8
    Other liabilities 420.6 349.3
    Contingent loan repurchase liability 412.2 343.0
    Total Liabilities 15,942.5 12,111.9
    Mezzanine Equity 49.9 –
    Stockholders’ Equity 442.9 401.8
    Total Liabilities, Mezzanine and Stockholders’ Equity 16,435.4 12,513.7
         

    Condensed Consolidated Statements of Operations (unaudited)

    (Dollars in millions) For the Years Ended
    December 31,
    2024
    		 December 31,
    2023
    Revenue    
    Servicing and subservicing fees   832.5     947.3  
    Gain on reverse loans held for investment and HMBS-related borrowings, net   42.5     46.7  
    Gain on loans held for sale, net   59.0     40.6  
    Other revenue, net   42.0     32.0  
    Total revenue   976.0     1,066.7  
    MSR valuation adjustments, net   (96.2)     (232.2)  
    Operating expenses    
    Compensation and benefits   232.5     229.2  
    Servicing and origination   52.3     57.3  
    Technology and communications   52.9     52.5  
    Professional services   52.6     22.3  
    Occupancy, equipment and mailing   31.4     31.8  
    Other expenses   14.7     19.0  
    Total operating expenses   436.5     412.1  
    Other income (expense)    
    Interest income   93.3     78.0  
    Interest expense   (288.9)     (273.6)  
    Pledged MSR liability expense   (175.4)     (296.3)  
    Gain (loss) on extinguishment of debt   (49.4)     1.3  
    Earnings of equity method investee   22.9     7.3  
    Other, net   (6.6)     2.8  
    Other income (expense), net   (404.1)     (480.5)  
    Income before income taxes   39.3     (58.1)  
    Income tax expense   5.3     5.6  
    Net Income (Loss)   33.9     (63.7)  
    Preferred stock dividend   (0.5)     –  
    Net Income (Loss) attributable to common stockholders   33.4     (63.7)  
    Basic EPS   $4.28     ($8.34)  
    Diluted EPS   $4.13     ($8.34)  
                 

    For Further Information Contact:

    Investors:
    Valerie Haertel, VP, Investor Relations
    (561) 570-2969
    shareholderrelations@onitygroup.com

    Media:
    Dico Akseraylian, SVP, Corporate Communications
    (856) 917-0066
    mediarelations@onitygroup.com

    The MIL Network –

  • MIL-OSI Europe: EIB invests in new IPAE 3 fund to support entrepreneurship in West Africa and Madagascar

    Source: European Investment Bank

    • The EIB is investing €15 million in the new I&P Afrique Entrepreneurs (IPAE 3) fund to bolster support for small and medium-sized enterprises (SMEs) in Africa.
    • This innovative and high-impact fund is expected to create more than 4 000 direct jobs, at least 40% of which will be for women.
    • The investment, which is funded by the ACP Trust Fund, is in line with the European Union’s Global Gateway strategy.

    During the EIB Group Day, the European Investment Bank (EIB) and Investisseurs & Partenaires (I&P) announced the signing of a financial partnership worth €15 million for the new I&P Afrique Entrepreneurs 3 (IPAE 3) fund. The signing ceremony was attended by EIB Vice-President Ambroise Fayolle as well as Jérémy Hajdenberg and Sébastien Boyé, co-CEOs of Investisseurs & Partenaires (I&P).

    It is an innovative and high-impact fund in Africa, which supports local businesses with high growth potential in key areas for the countries involved. These vital sectors include agriculture, nutrition, health, energy, water, industry and services. The fund has clear impact objectives for the businesses in Africa that it finances. These include creating decent jobs, promoting responsible entrepreneurship, empowering women and fighting climate change.

    The fund is expected to create over 4 000 direct jobs, at least 40% of which will be for women. The fund will also be fully aligned with the criteria of the 2X Challenge supporting women entrepreneurs.

    The EIB – along with the West African Development Bank (BOAD) and Proparco – is among the first to invest in this fund and aims to attract other public and private investors. By supporting the fund, the EIB aims to unlock further investment amounting to 4.5 times the figure invested by the EIB. This is a milestone in financing for SMEs in West Africa and Madagascar, particularly in countries where private equity funds have traditionally faced significant investment challenges. I&P has a local presence in Côte d’Ivoire, Ghana, Senegal and Madagascar, and also covers nearby countries such as Benin and Togo.

    “I am very pleased to have signed this new investment with Investisseurs & Partenaires to support IPAE 3, an innovative and high-impact fund for entrepreneurs in Africa, particularly in West Africa and Madagascar. Our aim is to provide finance for start-ups and to assist them in their development, especially in countries where accessing finance is difficult,” said EIB Vice-President Ambroise Fayolle. He also added: “By taking action, we are helping to create a more responsible form of entrepreneurship and supporting women entrepreneurs. In this way, we are helping to create jobs and develop the business leaders of the future. These are the key objectives of our finance operation in Africa alongside our Team Europe partners.”

    “We are especially proud to continue our long-term partnership with the European Investment Bank, which began almost 20 years ago. As one of the first players to make a formal commitment to IPAE 3, the EIB is playing a decisive role in the success of this round of fundraising, along with the other players involved in this initial closing. The commitment that has been made to IPAE 3 demonstrates that there is confidence in our approach and expertise. IPAE 3 has a unique ambition: to grant finance to capable, responsible and innovative businesses that offer solutions to the biggest challenges facing Africa, while supporting economic inclusion, especially that of women,” said I&P co-CEO Sébastien Boyé.

    This new financing is the fourth operation that the EIB and I&P have signed together, further strengthening the fruitful partnership that has developed between the parties. It brings the total support provided by the EIB to the various funds raised by I&P to €35.25 million.

    This investment was funded by le Fonds fiduciaire pour les États d’Afrique, des Caraïbes et du Pacifique (Fonds fiduciaire ACP) with the support of the European Commission. This is part of Team Europe’s strong commitment to providing finance and support for start-ups in Africa, and more broadly as part of the Global Gateway strategy and its EU-Africa Global Gateway programme, to support sustainable and inclusive growth in Africa.

    The EIB is a key player in development in Africa. Via EIB Global – its arm dedicated to financing outside the European Union – the EIB provided nearly €3.1 billion in investment in 2024 to support concrete and high-impact projects for the continent.

    Please note: This press release is strictly informative and does not constitute an offer nor an invitation to invest in IPAE 3.

    Background information

    European Investment Bank

    The EIB is the long-term lending institution of the European Union, owned by the Member States. It finances investments that contribute to EU policy objectives.

    EIB Global is the EIB Group’s specialised arm devoted to increasing the impact of international partnerships and development finance, and a key partner in the Global Gateway. It aims to support €100 billion of investment by the end of 2027 – one-third of the overall target of this EU strategy. It is designed to foster strong, focused partnership within Team Europe alongside fellow development finance institutions and civil society. EIB Global brings the EIB Group closer to people, companies and institutions through its offices around the world.

    Investisseurs & Partenaires

    For over 20 years, Investisseurs & Partenaires (I&P) has been committed to financing and supporting SMEs in Africa and assisting investment teams to establish themselves on the continent.

    I&P’s activities revolve around three fundamental objectives: to provide finance and assistance to entrepreneurs, to support and develop investment teams, and to bolster the entrepreneurial ecosystem. I&P provides finance for around 50 SMEs each year, and up to now has supported over 300 companies in a variety of sectors. Its team is present in 11 countries: Burkina Faso, Cameroon, Côte d’Ivoire, France, Ghana, Kenya, Madagascar, Mali, Niger, Senegal and Uganda.

    MIL OSI Europe News –