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Category: GlobeNewswire

  • MIL-OSI: Plantro Requisitions Shareholder Meeting of Dye & Durham, Nominates Three Highly-Qualified Individuals to Initiate Sale of Company

    Source: GlobeNewswire (MIL-OSI)

    Nearly $1 Billion in Shareholder Value Destroyed Under Engine Led Board Since December 2024

    Governance Failures: Four CEOs and Two CFOs in Six Months, an Entrenched Board Ignoring Credible Bids, Insiders Granted ~5% of the Company in Egregious $10 Stock Options, and Investors Actively Directing Management

    If the Current Board and its Misguided Strategy Remain in Place, Shareholders Risk Further Losses – It is Time to Immediately Initiate a Sale Process and Unlock a Change of Control Premium for Shareholders

    Today, a Financial Services Sale for ~$590 million or ~11x EBITDA Still Leaves Leverage at ~4.5x, with No Path to Sub-3x Until 2031

    ST. HELIER, Jersey, July 07, 2025 (GLOBE NEWSWIRE) — Plantro Ltd. (“Plantro” or the “Concerned Shareholder”) one of the largest shareholders of Dye & Durham Limited (“Dye & Durham” or the “Company”) (DND: TSX) which owns approximately 11% of the Company, today announced that it has requisitioned a special meeting of Dye & Durham shareholders (the “Special Meeting”) and nominated three highly qualified individuals for the Company’s board of directors (the “Board”): Brian J. Bidulka, David Danziger, and Martha Vallance. The requisition also calls for the removal of Board Chair Arnaud Ajdler, and directors Tracey E. Keates, and Ritu Khanna, from the Board.

    The value destruction at Dye & Durham since December of 2024 has reached crisis proportions and threatens the Company’s future. The current Board, steered by Engine Capital (“Engine”), EdgePoint Wealth Management Inc. (“EdgePoint”) and OneMove Capital Ltd. (“OneMove”) (together, the “Engine Activist Group”) has presided over the destruction of nearly $1 billion in shareholder value.

    The Engine Activist Group and the Board have pursued a misguided and haphazard strategy of customer price cuts and overspending. This has led to sharp declines in Adjusted EBITDA, cash flow, and rising debt, as evidenced by the Company’s recent quarterly results and a new debt covenant being imposed. As global real estate markets recently weakened, the Board doubled down on its strategy instead of adjusting course. This has caused a liquidity crisis, forcing the Company to aggressively draw on its revolving credit facility to make its April 2025 interest payment. With no clear or credible plan in place, leverage is expected to approach 6.0x Adjusted EBITDA by September 30, 20251.

    Remaining public is no longer a viable option. If the current Board remains unchanged, the Company will continue down the same failed path, resulting in further shareholder losses. A full sale of the Company is the only way to realize a control premium for current shareholders and restore stability in the business.

    Unfortunately, the current Board and the Engine Activist Group have fought for the past nine months against the sale of the Company or even presenting an offer to shareholders to consider. Before taking control, the Engine Activist Group publicly rejected multiple all-cash offers obtained by the prior board of approximately $25 per share. After the 2024 annual general meeting, as the stock declined significantly, Plantro submitted an offer to acquire the Company for $20 a share in February 2025. This offer was similarly rejected, and Plantro was threatened with litigation for privately submitting it. Furthermore, in April 2025, according to media reports, the Board refused to engage with Advent International, a credible well-funded buyer, who formally submitted offers of approximately $20 per share. The Board has also continued to deny basic due diligence access, actively undermining the possibility of negotiating higher bids.

    As outlined below, and in a presentation available at www.SellDnD.com, a sale of Dye & Durham is the only viable risk-adjusted path, free from execution risk, remaining for shareholders to preserve and maximize their value. Plantro invites its fellow shareholders to join in the push for urgent change. If elected, the Plantro nominees intend to immediately pursue a well-governed and thoughtful process to sell the Company without delay TO THE BUYER WILLING TO PAY THE HIGHEST PRICE.

    Stopgap Solutions Won’t Protect Shareholders: Dye & Durham Cannot Afford to Wait Any Longer and the Company Should Be Sold.

    The Engine Activist Group will try to sell you a half-baked plan — an asset sale and a plea for more time; but they are wrong. Just months ago, a sale of the Financial Services business may have been a viable path to reduce leverage, however, their misguided strategy and poor execution has damaged the business to the point where a sale of the Financial Services business would do little to reduce debt. Even if the Company sells additional assets, there are no realistic paths to reduce leverage below 4.0x any time soon.

    The Engine Activist Group and Engine-led Board have no plan to deliver anywhere near a $20 per share price on a risk- or time-adjusted basis. All they will do is sell you vague and hypothetical outcomes. Shareholders need to immediately realize a sale of the entire Company for the large control premium available for the following reasons:

    • It is Too Risky Not to Sell: A misguided and haphazard strategy, coupled with poor execution has led to significantly declining financial performance and excessive borrowing over the last six months. This has resulted in a new 5.8x debt covenant being imposed on the business, which sell-side analysts estimate the Company will be precariously close to breaching in the coming quarters2, putting shareholder equity at real risk of further erosion.
    • Divesting Financial Services Doesn’t Solve the Problem: Today, a sale of the Financial Services business at ~11x Adjusted EBITDA still leaves leverage at ~4.5x, with no path to sub-3x until 20313. Further, speculative claims of multiple expansion following a sale of the Financial Services business are unfounded as the Company will be a smaller, declining business, with leverage too high for public market investors to tolerate.
    • Generous Assumptions Point to a Lower Share Price: Waiting is not an option. Assuming the Company maintains its current 7.9x trading multiple the implied share price in Q3 FY2026 will be between $4.77 and $7.444, with the low-end of the range assuming the Company misses revenue estimates by only 5%.
    • There Are Still Credible Interested Buyers at the Table Right Now: Given the current negative trajectory, shareholders should pursue a full sale to capture an attractive all-cash change-of-control premium. Credible private equity buyers with the right expertise, risk appetite, and who bring the appropriate capital structure, are interested in acquiring the Company right now.

    The Engine Activist Group Has Usurped the Board and Now Dye & Durham is Not Suited to Operate as a Public Company.

    A revolving door of executives has destabilized the business and eradicated irreplaceable institutional memory at the worst possible time. The Company is now on its fourth CEO in six months, and its second CFO. Numerous other executives and employees at all levels have left or been terminated, with employee turnover now reportedly reaching 25%, compared to low single digits previously, creating paralysis and leaving the business rudderless. Retaining even a portion of this critical institutional knowledge would have informed better decision making and helped avoid multiple strategic blunders.

    In what appears to be an act of desperation, the Board delegated the recruitment of a new CEO and CFO to the principal of OneMove and a representative of EdgePoint, and in doing so appointed an unproven first-time CEO, with no public company or capital allocation experience, and a new CFO. They then granted the pair nearly 5% of the Company in options priced at just $10 per share. The pair stand to pocket over $30 million simply for getting shareholders back to where they were in December 2024.

    Plantro understands there is also ongoing infighting at the Board level that has a created a situation where management cannot operate effectively, and established governance structures are breaking down. Plantro has learned the Company was recently forced to engage an independent third party mediator to help navigate basic internal operations as a result of repeated shareholder-level interference with management. This kind of shareholder “skip-level” behaviour, where investors directly bypass a board of directors and provide instruction directly to management, is confusing and creates potential for further executive attrition. It is also virtually unheard of in a public company and raises serious concerns about accountability and proper oversight.

    Plantro’s Highly Qualified Nominees Are Committed to Leading a Process to Sell Dye & Durham.

    The Plantro nominees collectively bring experience in M&A, capital allocation, operations, technology, governance, public and private board service, and direct senior experience at Dye & Durham (which is necessary given excessive executive turnover under the Engine Activist Group). Together they have the right mix of skills, experience, expertise, and shareholder-centric perspective to stabilize Dye & Durham, and immediately commence a well-governed and thoughtful process to sell the Company for the highest price possible.

    Each of Plantro’s highly qualified individuals is independent of Plantro and each other, and will act as true fiduciaries with a mandate to preserve and maximize shareholder value:

    • Brian J. Bidulka, CPA, CA, is a corporate director and chartered accountant with extensive experience in technology, finance, and business analytics. Brian is the former Chief Financial Officer of Research in Motion. He has also served in senior executive roles at major Canadian companies including Porter Airlines, Postmedia, George Weston Limited, and Molson Coors. Currently, he is a member of the board at Andrew Peller Limited, and is also a board member and treasurer of Canada Basketball.
    • David Danziger, CPA, CA, is an experienced finance leader and corporate director with an extensive background in audit, accounting, and management consulting. Previously, he was the Senior Vice President, Assurance, and the National Leader of Public Companies at MNP LLP, Canada’s fifth largest accounting firm. David continues to serve as a Senior Advisor for MNP LLP working on special projects and supporting the Public Company Audit Team nationally. David has served as a director for a range of technology, mining, and life sciences companies listed on the TSX, TSXV, CSE, and NYSE.
    • Martha Vallance is a corporate director with significant experience in M&A, capital markets and technology. Most recently, Martha was the Chief Operating Officer of Dye & Durham after previously establishing and leading the company’s Corporate Development function and has deep knowledge of the company’s strategy and operations. Prior to this, Martha spent over 12 years in Investment & Corporate Banking at BMO Capital Markets, most recently holding a series of senior roles within both the Mergers & Acquisitions and Equity Capital Markets teams. In addition, Martha served as a Director on the Board of TSX-listed TMAC Resources and was also a member of the Special Committee during the sale of the company which concluded in January 2021.

    Plantro proposes that shareholders support incumbent directors Hans T. Gieskes, the recently deposed independent chairman of the Board, Anthony P. Kinnear, Sid Singh, and Eric Shahinian to maintain continuity on the Board. Both Gieskes and Singh served as interim CEOs of the Company, and collectively, these individuals have relevant C-Suite, public company, and capital markets experience at other companies.

    Plantro remains supportive of management and believes stability is required to execute a successful sales process and restore value to shareholders.

    Shareholders Need to Make their Voices Heard

    There is no debate – Dye & Durham does not have a viable long-term path as a public company and must be sold. The Board and management will claim they need more time, but the status quo for shareholders is simply intolerable. While the business drifts and headwinds build, the risks to Dye & Durham and its shareholders continue to accumulate. The time for decisive action has arrived.

    Plantro has heard from many shareholders who share its contention that the Company must run a formal sale process to preserve and maximize shareholder value. Now is the time to speak up. It is imperative that shareholders communicate their views directly to the Board and urge them to call and hold the Special Meeting without delay so the Company can be sold. Alternatively, the Board can spare shareholders the cost and distraction of a proxy contest, appoint the Plantro nominees to the Board, and commence a formal sale process immediately.

    Please visit www.SellDnd.com to view Plantro’s presentation to fellow shareholders and other important materials.

    Other Information Concerning the Plantro Nominees

    To the knowledge of Plantro, no Plantro nominee is, at the date hereof, or has been, within ten (10) years before the date hereof: (a) a director, chief executive officer or chief financial officer of any company that (i) was subject to a cease trade order, an order similar to a cease trade order or an order that denied the relevant company access to any exemption under securities legislation that was in effect for a period of more than thirty (30) consecutive days (each, an “order”), in each case that was issued while the Plantro nominee was acting in the capacity as director, chief executive officer or chief financial officer, or (ii) was subject to an order that was issued after the Plantro nominee ceased to be a director, chief executive officer or chief financial officer and which resulted from an event that occurred while that person was acting in the capacity as director, chief executive officer or chief financial officer; (b) a director or executive officer of any company that, while such Plantro nominee was acting in that capacity, or within one (1) year of such Plantro nominee ceasing to act in that capacity, became bankrupt, made a proposal under any legislation relating to bankruptcy or insolvency or was subject to or instituted any proceedings, arrangement or compromise with creditors or had a receiver, receiver manager or trustee appointed to hold its assets; or (c) someone who became bankrupt, made a proposal under any legislation relating to bankruptcy or insolvency, or became subject to or instituted any proceedings, arrangement or compromise with creditors, or had a receiver, receiver manager or trustee appointed to hold the assets of such Plantro nominee.

    To the knowledge of Plantro, as at the date hereof, no Plantro nominee has been subject to: (a) any penalties or sanctions imposed by a court relating to securities legislation, or by a securities regulatory authority, or has entered into a settlement agreement with a securities regulatory authority; or (b) any other penalties or sanctions imposed by a court or regulatory body that would likely be considered important to a reasonable securityholder in deciding whether to vote for a Plantro nominee.

    To the knowledge of Plantro, none of the directors or officers of Plantro, or any associates or affiliates of the foregoing, or any of the Plantro nominees or their respective associates or affiliates, has: (a) any material interest, direct or indirect, in any transaction since the commencement of the Company’s most recently completed financial year or in any proposed transaction which has materially affected or will materially affect the Company or any of its subsidiaries; or (b) any material interest, direct or indirect, by way of beneficial ownership of securities or otherwise, in any matter proposed to be acted on at the Special Meeting, other than the re-constitution of the Board.

    Plantro beneficially owns and controls 7,374,510 common shares representing approximately 11% of the outstanding shares of the Company. Martha Vallance beneficially owns and controls 38,600 common shares, representing approximately 0.06% of the outstanding shares of the Company. She also holds options to acquire an additional 425,433 common shares. Assuming full exercise of these options, she would beneficially own and control 464,033 common shares, representing approximately 0.69% of the then-outstanding shares of the Company, on a partially diluted basis. While the other Concerned Shareholder Nominees may purchase shares in the future, not of the other Concerned Shareholder Nominees currently hold any units of the Company.

    Additional Information

    The information contained in this news release does not and is not meant to constitute a solicitation of a proxy within the meaning of applicable corporate and securities laws. Although Plantro has requisitioned the Special Meeting, there is currently no record or meeting date and shareholders are not being asked at this time to execute a proxy in favour of the Plantro nominees or any other matter to be acted upon at the Special Meeting. In connection with the Special Meeting, Plantro may file a dissident information circular (the “Information Circular”) in due course in compliance with applicable corporate and securities laws.

    Notwithstanding the foregoing, Plantro is voluntarily providing the disclosure required under section 9.2(4) of National Instrument 51-102 – Continuous Disclosure Obligations (“NI 51-102”) and has filed this news release containing disclosure prescribed by applicable corporate law and disclosure required under section 9.2(6) of NI 51-102 in respect of Engine’s director nominees, in accordance with corporate and securities laws applicable to public broadcast solicitations. This news release is available under the Company’s profile on SEDAR+ at www.sedarplus.ca.

    This news release and any solicitation made by Plantro in advance of the Special Meeting is, or will be, as applicable, made by Plantro and not by or on behalf of the management of the Company. All costs incurred for any solicitation will be borne by Plantro, provided that, subject to applicable law, Plantro may seek reimbursement from the Company of Plantro’s out-of-pocket expenses, including proxy solicitation expenses and legal fees, incurred in connection with a successful reconstitution of the Board.

    Plantro is not soliciting proxies in connection with the Special Meeting at this time, and shareholders are not being asked at this time to execute proxies in favour of the Plantro nominees (in respect of the Special Meeting) or any matter to be acted upon at the Special Meeting. Proxies may be solicited by Plantro pursuant to an Information Circular sent to shareholders after which solicitations may be made by or on behalf of Plantro, by mail, telephone, fax, email or other electronic means as well as by newspaper or other media advertising, and in person by directors, officers and employees of Plantro, who will not be specifically remunerated therefor. Plantro may also solicit proxies in reliance upon the public broadcast exemption to the solicitation requirements under applicable Canadian corporate and securities laws, conveyed by way of public broadcast, including through press releases, speeches or publications, and by any other manner permitted under applicable corporate and securities laws. Plantro may engage the services of one or more agents and authorize other persons to assist in soliciting proxies on behalf of Plantro.

    Plantro has retained Morrow Sodali (Canada) Ltd. (“Sodali”) as its proxy advisor to assist Plantro in soliciting shareholders should Plantro commence a formal solicitation of proxies, for which Sodali will receive a fee not to exceed $200,000 plus a per call fee and certain success fees, together with reimbursement for reasonable and out-of-pocket expenses, and will be indemnified against certain liabilities and expenses, including certain liabilities under securities laws. Sodali’s responsibilities will principally include advising Plantro on governance best practices, where applicable, liaising with proxy advisory firms, developing and implementing shareholder engagement strategies, and advising with respect to meeting and proxy protocol.

    Plantro is not requesting that Dye & Durham shareholders submit a proxy at this time. Once Plantro has commenced a formal solicitation of proxies in connection with the Special Meeting, proxies may be revoked by instrument in writing by the shareholder giving the proxy or by its duly authorized officer or attorney, or in any other manner permitted by law (including subsection 110(4) of the Business Corporations Act (Ontario)). None of Plantro or, to its knowledge, any of its associates or affiliates, has any material interest, direct or indirect, (i) in any transaction since the beginning of Dye & Durham’s most recently completed financial year or in any proposed transaction that has materially affected or would materially affect Dye & Durham or any of its subsidiaries; or (ii) by way of beneficial ownership of securities or otherwise, in any matter proposed to be acted on at the Special Meeting, other than the election of directors to the Board.

    Dye & Durham’s principal office address is 25 York St., Suite 1100, Toronto, Ontario, M5J 2V5. A copy of this news release may be obtained on Dye & Durham’s SEDAR profile at www.sedar.com.

    Disclaimer for Forward-Looking Information

    Certain information in this news release may constitute “forward-looking information” within the meaning of applicable securities legislation. Forward-looking statements and information generally can be identified by the use of forward-looking terminology such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “should,” “plans,” “continue,” or similar expressions suggesting future outcomes or events. Forward-looking information in this news release may include, but is not limited to, statements of Plantro regarding (i) how Plantro intends to exercise its legal rights as a shareholder of the Company, and (ii) its plans to make changes at the Board of the Company.

    Although Plantro believes that the expectations reflected in any such forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements including, without limitation, the risks that (i) the Company may use tactics to thwart the rights of Plantro as a shareholder and (ii) the actions being proposed and the changes being demanded by Plantro, may not take place for any reason whatsoever. Except as required by law, Plantro does not intend to update these forward-looking statements.

    About Plantro

    Plantro is a privately held company, with an established track record of making successful investments in undervalued and high quality legal, financial, and information services businesses.

    Media Contact

    Gagnier Communications
    Riyaz Lalani / Dan Gagnier
    Plantro@gagnierfc.com

    ____________________________________
    1    Source: CapIQ: based off of analyst consensus adjusted EBITDA estimates and Plantro’s calculations which are available within the investor presentation on www.SellDnD.com
    2The Company’s Consolidated First Lien Net Leverage Ratio will be materially higher in two quarters from now when it loses the ability to offset $185 million in restricted cash it holds to repay its 2026 convertible debentures, against its senior debt. Based on sell-side consensus estimates, the Company will be much closer to breaching its Consolidated First Lien Net Leverage Ratio covenant, should it remain in place.
    3Assumes 0.5% annual Adjusted EBITDA growth after the sale of financial services based off trailing 9-month results as at Q3 FY25; Further details on Plantro’s assumptions and calculations are available within the investor presentation on www.SellDnD.com
    4Future share price applies current EV / LTM EBITDA multiple to LTM EBITDA ending March 31, 2026 based on research consensus estimates and adjusting for net debt forecasted as at March 31, 2026 with cash flow assumptions as further detailed in the presentation available at www.SellDnD.com.

    The MIL Network –

  • MIL-OSI: Electude, the leader in automotive and truck e-learning, announces partnership with Elite Tuned School

    Source: GlobeNewswire (MIL-OSI)

    BRAINTREE, Mass., July 07, 2025 (GLOBE NEWSWIRE) — Electude North America is pleased to announce it has formed a partnership with Elite Tuned School to distribute its Elite Tuned Performance courses via the Electude LMS.

    Elite Tuned School is proud to bring three cutting-edge tuning and calibration courses to Electude’s platform, providing a progressive path to introduce students to modern engine calibration and diagnostics using HP Tuners:

    • Diagnostics & Calibration Essentials – A foundational course introducing students to engine control systems, diagnostics, sensor functions, and entry-level calibration strategies.
    • High Performance I: Naturally Aspirated Tuning – Focused on building performance calibrations for NA platforms, this course covers airflow modeling, fueling, spark control, and base file development.
    • High Performance II: Boosted Performance Calibration – Designed for advanced students, this course explores forced induction tuning strategies, including MAP scaling, injector setup, spark adjustments, dyno operation, and real-world base file builds.

    These courses are designed to fit into high school and post-secondary automotive programs, offering real-world tuning knowledge in an engaging, structured format.

    Mike Carnahan, Co-Founder, Elite Tuned School, said: “Partnering with Electude allows us to put powerful, real-world calibration training directly into classrooms across the country. The goal has always been to make tuning education more accessible and practical—and this collaboration brings that vision to life for the next generation of automotive professionals.” Darrell Christopher, Regional Director for Electude North America, said “A number of our customers teach automotive hi-performance courses and partnering with the team at Elite Tuned School was a natural for us. In addition, our Electude Classroom e-learning course is the perfect companion to get hi-performance students the tools they need for success!”

    Elite Tuned School Elite Tuned Performance courses are available to educational institutions through the United States now. These courses require are a separate purchase in addition to any other Electude e-learning courses a school or college may be using. Your Electude business development manager can get you started!

    About Electude: Electude has been a global innovation leader in automotive technology education for over 30 years. Electude is in use today globally by over 900,000 students and over 50,000 instructors in 70 nations, translated into 35 languages. Using an integrative, highly interactive gamified learning method, Electude has revolutionized the automotive education industry by empowering vocational students to learn effectively and give instructors custom time-saving tools. Electude North America provides a localized version of Electude to customers in the United States, Canada and the Caribbean. Visit www.electude.com for more information.

    About Elite Tuned School:

    Elite Tuned School is a leader in high-performance automotive education, offering a unique, real-world approach to engine calibration using the latest software and strategies. Built by professional tuners, Elite Tuned delivers hands-on, industry-relevant instruction for aspiring professionals and enthusiasts alike. With a focus on diagnostics, base file creation, forced induction strategies, and dyno integration, Elite Tuned empowers students to calibrate with confidence and understanding. Questions? Reach us at: Electude@EliteTuned.com.

    The MIL Network –

  • MIL-OSI: EXL named a Leader in Everest Group Data and AI Services Specialists PEAK Matrix® Assessment 2025

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, July 07, 2025 (GLOBE NEWSWIRE) — EXL [NASDAQ: EXLS], a global data and AI company, has been named the top Leader in the Everest Group Analytics and Artificial Intelligence (AI) Services Specialists PEAK Matrix® Assessment 2025, for the second consecutive year.

    The Everest Group report examined 32 leading providers who derive more than 50% of their revenue from analytics and AI services on their ability to meet enterprise needs and deliver scalable, secure and high-impact AI and data solutions. EXL secured the top-right Leader position in the assessment for its robust generative AI capabilities, domain-led expertise and IP to accelerate client time-to-value.

    “EXL has invested in advancing its data and AI capabilities, with an emphasis on domain-specific applications across insurance, healthcare, and retail,” said Vishal Gupta, partner at Everest Group. “This is reflected in solutions such as EXL Claims Assist, which leverages GenAI to streamline insurance claims processing. Its growing IP portfolio, including platforms like XTRAKTO.AI™ for intelligent document processing and EXL Code Harbor™ for AI-assisted code generation, enables faster implementation and greater operational efficiency. In addition, its collaboration with NVIDIA, leveraging platforms such as the NVIDIA NeMo™ and AI Enterprise to power offerings such as EXL Insurance LLM™ and EXL Smart Agent Assist™, strengthens its ability to build and scale high-performance AI solutions. These efforts have contributed to EXL’s positioning as a Leader in Everest Group’s Data and AI Services Specialists PEAK Matrix® Assessment 2025.”

    “Many companies have adopted AI, but only the true leaders in the space are going several steps further to integrate AI across enterprise workflows, leveraging the power of this technology to truly transform their operating models,” said Anand “Andy” Logani, chief digital and AI officer at EXL. “EXL’s consistent performance in the Everest Group PEAK Matrix is an affirmation of our efforts to not just play in the AI space, but to be the world leader in helping our clients unlock the full power of AI to improve their businesses.”

    To read more about the Everest Group 2025 report, click here for the custom version of the report. For more information about EXL’s analytics and AI solutions, click here.

    About EXL

    EXL (NASDAQ: EXLS) is a global data and AI company that offers services and solutions to reinvent client business models, drive better outcomes and unlock growth with speed. EXL harnesses the power of data, AI, and deep industry knowledge to transform businesses, including the world’s leading corporations in industries including insurance, healthcare, banking and capital markets, retail, communications and media, and energy and infrastructure, among others. EXL was founded in 1999 with the core values of innovation, collaboration, excellence, integrity and respect. We are headquartered in New York and have approximately 60,000 employees spanning six continents. For more information, visit www.exlservice.com.

    Cautionary Statement Regarding Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. You should not place undue reliance on those statements because they are subject to numerous uncertainties and factors relating to EXL’s operations and business environment, all of which are difficult to predict and many of which are beyond EXL’s control. Forward-looking statements include information concerning EXL’s possible or assumed future results of operations, including descriptions of its business strategy. These statements may include words such as “may,” “will,” “should,” “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate” or similar expressions. These statements are based on assumptions that we have made in light of management’s experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. You should understand that these statements are not guarantees of performance or results. They involve known and unknown risks, uncertainties and assumptions. Although EXL believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect EXL’s actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. These factors, which include our ability to maintain and grow client demand, our ability to hire and retain sufficiently trained employees, and our ability to accurately estimate and/or manage costs, rising interest rates, rising inflation and recessionary economic trends, are discussed in more detail in EXL’s filings with the Securities and Exchange Commission, including EXL’s Annual Report on Form 10-K. You should keep in mind that any forward-looking statement made herein, or elsewhere, speaks only as of the date on which it is made. New risks and uncertainties come up from time to time, and it is impossible to predict these events or how they may affect EXL. EXL has no obligation to update any forward-looking statements after the date hereof, except as required by federal securities laws.

    Contacts
    Media
    Keith Little
    +1 703-598-0980
    media.relations@exlservice.com

    Investor Relations
    John Kristoff
    +1 212 209 4613
    IR@exlservice.com

    The MIL Network –

  • MIL-OSI: EXL named a Leader in Everest Group Data and AI Services Specialists PEAK Matrix® Assessment 2025

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, July 07, 2025 (GLOBE NEWSWIRE) — EXL [NASDAQ: EXLS], a global data and AI company, has been named the top Leader in the Everest Group Analytics and Artificial Intelligence (AI) Services Specialists PEAK Matrix® Assessment 2025, for the second consecutive year.

    The Everest Group report examined 32 leading providers who derive more than 50% of their revenue from analytics and AI services on their ability to meet enterprise needs and deliver scalable, secure and high-impact AI and data solutions. EXL secured the top-right Leader position in the assessment for its robust generative AI capabilities, domain-led expertise and IP to accelerate client time-to-value.

    “EXL has invested in advancing its data and AI capabilities, with an emphasis on domain-specific applications across insurance, healthcare, and retail,” said Vishal Gupta, partner at Everest Group. “This is reflected in solutions such as EXL Claims Assist, which leverages GenAI to streamline insurance claims processing. Its growing IP portfolio, including platforms like XTRAKTO.AI™ for intelligent document processing and EXL Code Harbor™ for AI-assisted code generation, enables faster implementation and greater operational efficiency. In addition, its collaboration with NVIDIA, leveraging platforms such as the NVIDIA NeMo™ and AI Enterprise to power offerings such as EXL Insurance LLM™ and EXL Smart Agent Assist™, strengthens its ability to build and scale high-performance AI solutions. These efforts have contributed to EXL’s positioning as a Leader in Everest Group’s Data and AI Services Specialists PEAK Matrix® Assessment 2025.”

    “Many companies have adopted AI, but only the true leaders in the space are going several steps further to integrate AI across enterprise workflows, leveraging the power of this technology to truly transform their operating models,” said Anand “Andy” Logani, chief digital and AI officer at EXL. “EXL’s consistent performance in the Everest Group PEAK Matrix is an affirmation of our efforts to not just play in the AI space, but to be the world leader in helping our clients unlock the full power of AI to improve their businesses.”

    To read more about the Everest Group 2025 report, click here for the custom version of the report. For more information about EXL’s analytics and AI solutions, click here.

    About EXL

    EXL (NASDAQ: EXLS) is a global data and AI company that offers services and solutions to reinvent client business models, drive better outcomes and unlock growth with speed. EXL harnesses the power of data, AI, and deep industry knowledge to transform businesses, including the world’s leading corporations in industries including insurance, healthcare, banking and capital markets, retail, communications and media, and energy and infrastructure, among others. EXL was founded in 1999 with the core values of innovation, collaboration, excellence, integrity and respect. We are headquartered in New York and have approximately 60,000 employees spanning six continents. For more information, visit www.exlservice.com.

    Cautionary Statement Regarding Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. You should not place undue reliance on those statements because they are subject to numerous uncertainties and factors relating to EXL’s operations and business environment, all of which are difficult to predict and many of which are beyond EXL’s control. Forward-looking statements include information concerning EXL’s possible or assumed future results of operations, including descriptions of its business strategy. These statements may include words such as “may,” “will,” “should,” “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate” or similar expressions. These statements are based on assumptions that we have made in light of management’s experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. You should understand that these statements are not guarantees of performance or results. They involve known and unknown risks, uncertainties and assumptions. Although EXL believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect EXL’s actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. These factors, which include our ability to maintain and grow client demand, our ability to hire and retain sufficiently trained employees, and our ability to accurately estimate and/or manage costs, rising interest rates, rising inflation and recessionary economic trends, are discussed in more detail in EXL’s filings with the Securities and Exchange Commission, including EXL’s Annual Report on Form 10-K. You should keep in mind that any forward-looking statement made herein, or elsewhere, speaks only as of the date on which it is made. New risks and uncertainties come up from time to time, and it is impossible to predict these events or how they may affect EXL. EXL has no obligation to update any forward-looking statements after the date hereof, except as required by federal securities laws.

    Contacts
    Media
    Keith Little
    +1 703-598-0980
    media.relations@exlservice.com

    Investor Relations
    John Kristoff
    +1 212 209 4613
    IR@exlservice.com

    The MIL Network –

  • MIL-OSI: Transfix Launches Smart Uploads and Routing Guide to Modernize End-to-End Freight Pricing and Procurement

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, July 07, 2025 (GLOBE NEWSWIRE) — Transfix, a leading freight technology company, today announced the launch of two powerful features, Smart Uploads and Routing Guide, that together redefine the pricing and procurement experience for freight brokers. Built into the Transfix Solutions Console, these AI-driven tools eliminate manual bottlenecks from RFP management and carrier booking, helping brokers price smarter, respond faster, and execute more reliably in a volatile market.

    “Freight brokers have long been stuck between inconsistent RFP formats on one end and fragmented carrier networks on the other,” said Jonathan Salama, CEO and Co-founder of Transfix. “With Smart Uploads and Routing Guide, we’re modernizing the entire pricing and procurement lifecycle, from ingestion to execution, by combining automation with actionable intelligence. This is a huge step toward building freight’s first Quote Management System.”

    Modernizing Freight from File to Final Mile

    Together, Smart Uploads and Routing Guide represent a full-stack solution for the freight industry’s most persistent pain points: messy data, manual workflows, inconsistent pricing, and unreliable carrier performance.

    Smart Uploads: AI-Driven RFP Ingestion

    Now available within the Transfix Solutions Console, Smart Uploads automatically converts shipper-submitted RFPs into a clean, structured format, regardless of the original spreadsheet layout. The AI identifies key fields, flags ambiguities, and preserves the original file for full traceability, saving brokers hours of formatting time and eliminating costly errors.

    A future release will introduce Smart Downloads, allowing users to export pricing responses in the shipper’s original format, ensuring a seamless, round-trip RFP process.

    Key Benefits of Smart Uploads include:

    • Instant AI Mapping: Automatically aligns shipper RFP formats to Transfix’s proprietary pricing system
    • Error Visibility: Flags problematic fields for review without halting progress
    • Faster Turnaround: Slashes manual prep time so brokers can respond sooner
    • Higher Accuracy: Reduces costly data entry errors

    Routing Guide: Operational Intelligence for Carrier Selection

    Also launched today, Routing Guide enables brokers to lock in that pricing intelligence with consistent, high-performing carrier assignments. Using historical data, brokers can build high-quality networks, automate recurring freight, and reduce fraud by surfacing only vetted, trusted partners. Brokers can also set rate-optimizing margins and preferences by day or lane, ensuring reliable service with every booking.

    Key Benefits of Routing Guide include:

    • Stronger Partnerships: Prioritize top-performing carriers by lane
    • Faster Execution: Eliminate manual vetting for recurring loads
    • Reduced Fraud: Rely on trusted partners and minimize risk
    • Better KPIs: Improve delivery performance and margin outcomes

    With both tools now live in the Transfix Solutions Console, freight brokers gain a strategic, end-to-end advantage in today’s competitive market. By transforming messy, error-prone spreadsheets into actionable pricing and pairing those rates with the best carriers for the job, Transfix is delivering on its vision to create the industry’s first fully-integrated Quote Management System (QMS).

    To learn more about Transfix and its freight solutions, visit www.transfix.io.

    About Transfix
    Transfix, Inc. is a freight technology leader dedicated to empowering brokers and 3PLs with innovative AI-driven pricing and load management solutions. Our Custom Rate Prediction Suite delivers tailored, highly accurate spot and contract rate forecasts, streamlined RFP workflows, and automated bidding tools that save time and improve margins. With over a decade of brokerage expertise and a commitment to data privacy, Transfix provides real-time insights and custom models that give brokers a competitive edge while ensuring their data remains proprietary and confidential. Transform your operations with the trusted partner in freight technology.

    Media Contact:
    Amber Good
    LeadCoverage
    amber@leadcoverage.com

    The MIL Network –

  • MIL-OSI: Transfix Launches Smart Uploads and Routing Guide to Modernize End-to-End Freight Pricing and Procurement

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, July 07, 2025 (GLOBE NEWSWIRE) — Transfix, a leading freight technology company, today announced the launch of two powerful features, Smart Uploads and Routing Guide, that together redefine the pricing and procurement experience for freight brokers. Built into the Transfix Solutions Console, these AI-driven tools eliminate manual bottlenecks from RFP management and carrier booking, helping brokers price smarter, respond faster, and execute more reliably in a volatile market.

    “Freight brokers have long been stuck between inconsistent RFP formats on one end and fragmented carrier networks on the other,” said Jonathan Salama, CEO and Co-founder of Transfix. “With Smart Uploads and Routing Guide, we’re modernizing the entire pricing and procurement lifecycle, from ingestion to execution, by combining automation with actionable intelligence. This is a huge step toward building freight’s first Quote Management System.”

    Modernizing Freight from File to Final Mile

    Together, Smart Uploads and Routing Guide represent a full-stack solution for the freight industry’s most persistent pain points: messy data, manual workflows, inconsistent pricing, and unreliable carrier performance.

    Smart Uploads: AI-Driven RFP Ingestion

    Now available within the Transfix Solutions Console, Smart Uploads automatically converts shipper-submitted RFPs into a clean, structured format, regardless of the original spreadsheet layout. The AI identifies key fields, flags ambiguities, and preserves the original file for full traceability, saving brokers hours of formatting time and eliminating costly errors.

    A future release will introduce Smart Downloads, allowing users to export pricing responses in the shipper’s original format, ensuring a seamless, round-trip RFP process.

    Key Benefits of Smart Uploads include:

    • Instant AI Mapping: Automatically aligns shipper RFP formats to Transfix’s proprietary pricing system
    • Error Visibility: Flags problematic fields for review without halting progress
    • Faster Turnaround: Slashes manual prep time so brokers can respond sooner
    • Higher Accuracy: Reduces costly data entry errors

    Routing Guide: Operational Intelligence for Carrier Selection

    Also launched today, Routing Guide enables brokers to lock in that pricing intelligence with consistent, high-performing carrier assignments. Using historical data, brokers can build high-quality networks, automate recurring freight, and reduce fraud by surfacing only vetted, trusted partners. Brokers can also set rate-optimizing margins and preferences by day or lane, ensuring reliable service with every booking.

    Key Benefits of Routing Guide include:

    • Stronger Partnerships: Prioritize top-performing carriers by lane
    • Faster Execution: Eliminate manual vetting for recurring loads
    • Reduced Fraud: Rely on trusted partners and minimize risk
    • Better KPIs: Improve delivery performance and margin outcomes

    With both tools now live in the Transfix Solutions Console, freight brokers gain a strategic, end-to-end advantage in today’s competitive market. By transforming messy, error-prone spreadsheets into actionable pricing and pairing those rates with the best carriers for the job, Transfix is delivering on its vision to create the industry’s first fully-integrated Quote Management System (QMS).

    To learn more about Transfix and its freight solutions, visit www.transfix.io.

    About Transfix
    Transfix, Inc. is a freight technology leader dedicated to empowering brokers and 3PLs with innovative AI-driven pricing and load management solutions. Our Custom Rate Prediction Suite delivers tailored, highly accurate spot and contract rate forecasts, streamlined RFP workflows, and automated bidding tools that save time and improve margins. With over a decade of brokerage expertise and a commitment to data privacy, Transfix provides real-time insights and custom models that give brokers a competitive edge while ensuring their data remains proprietary and confidential. Transform your operations with the trusted partner in freight technology.

    Media Contact:
    Amber Good
    LeadCoverage
    amber@leadcoverage.com

    The MIL Network –

  • MIL-OSI: BIO-Europe® 2025 Gathers Global Life Sciences Leaders in Vienna

    Source: GlobeNewswire (MIL-OSI)

    MUNICH, Germany, July 07, 2025 (GLOBE NEWSWIRE) — The 31st annual edition of BIO-Europe, the premier partnering conference for the global biopharmaceutical industry organized by EBD Group, will take place in Vienna, Austria, from November 3 – 5, 2025, followed by a digital partnering experience on November 11 – 12.

    BIO-Europe continues to serve as a cornerstone event for life science dealmaking and brings together key decision-makers to spark innovation, investment, and partnerships. The 2025 edition is expected to welcome 5,700+ participants from 2,900 companies worldwide, including top-level management from the world’s top 50 pharma firms. Attendees will engage in over 30,000 one-to-one meetings, advancing therapeutic innovation and dealmaking across the ecosystem.

    “In times when uncertainty and complexity shape the global landscape, strategic collaboration is more vital than ever,” said Claire Macht, European Portfolio Director for EBD Group. “BIO-Europe provides a high-impact platform where partnerships flourish – across borders, disciplines, and development stages. Innovation in life sciences doesn’t happen in isolation, it happens when people connect, share ideas, and transform vision into action. Vienna’s vibrant ecosystem and scientific excellence make it the ideal setting for shaping the future of healthcare together.”

    Vienna stands out as one of Europe’s most dynamic life sciences locations. The Austrian capital accounts for over half of the nation’s life sciences activity and employs nearly 50,000 people across 754 organizations, including 646 companies and 19 renowned research and education institutions. The sector generated €22 billion in annual revenues in 2023, underscoring the city’s growing influence in the European biotech and pharma industry.1

    “Welcoming BIO-Europe to Vienna is both an honor and a strategic opportunity,” said Philipp Hainzl, Managing Director of LISAvienna. “Austria’s life sciences community is eager to engage with international peers, investors, and innovators. We look forward to showcasing the regional strength in research, entrepreneurship, and collaborative growth on a global stage. Together with our leading biotech innovators, we will contribute to an unforgettable conference experience. Participants are warmly invited to our Welcome Reception at the magnificent Vienna City Hall.” The local host LISAvienna is Vienna’s central life sciences cluster platform operated by Austria Wirtschaftsservice (aws) and the Vienna Business Agency on behalf of the Austrian Federal Ministry of Economy, Energy and Tourism and the City of Vienna.

    Program Highlights

    Inspired by Vienna’s legendary coffeehouse culture and music, BIO-Europe 2025 will offer an engaging program involving expert-led panel discussions, company presentations, including the startup spotlight pitch competition, the Advanced Business Development course, an active exhibition floor, and networking opportunities designed to inspire collaboration across the life science industry.

    A highlight of the event – the Opening Plenary – with David Loew, CEO of Ipsen, and Jeremy Levin, CEO of Ovid Therapeutics, will explore Europe’s evolving role in global healthcare innovation – will it be a symphony or a solo act?

    BIO-Europe serves the entire biopharma ecosystem, with tailored content for early-stage startups, innovators, academic researchers, as well as large pharma and venture investors. Serendipitous networking, both in-person and online, is a hallmark of the experience.

    Partnering and Registration

    Partnering for BIO-Europe opens on September 22, 2025. One-to-one meetings will be powered by partneringONE®, EBD Group’s industry-standard platform that enables delegates to search, request, schedule, and conduct meetings efficiently.

    To enhance access and extend engagement beyond the in-person event, the conference will continue with two days of virtual partnering on November 11-12, allowing participants to connect regardless of time zone or travel constraints.

    Registration is now open (information is available online), with the biggest savings available through the first early bird deadline on July 25, 2025. Additional discounted rates are available until November 2, 2025.

    For more information, please visit the conference website at: https://informaconnect.com/bioeurope/

    Additional links and information:

    Follow BIO-Europe 2025 on X @EBDGroup (hashtag: #BIOEurope) or on LinkedIn.

    About EBD Group

    EBD Group’s mission is to help collaborations get started across the life science value chain. Our range of partnering conferences has grown to become the largest and most productive conference platform in the industry. Each one of our landmark events held in key life science markets around the world is powered by our state-of-the-art partnering software, partneringONE, that enables delegates to efficiently identify and engage with new opportunities via one-to-one meetings. Today our events (BIO-Europe, BIO-Europe Spring®, Biotech Showcase™, ChinaBio® Partnering Forum, Asia Bio Partnering Forum and BioEquity Europe) annually attract more than 15,000 senior life science executives who engage in over 50,000 one-to-one partnering meetings. These vital one-to-one engagements are the wellspring of deals that drive innovation in our industry. EBD Group is an Informa company. For more information, please visit www.ebdgroup.com.

    Media Contacts:

    MC Services AG
    +49 89 2102280
    contact@mc-services.eu

    EBD Group
    Karina Marocco
    kmarocco@ebdgroup.com

    1Vienna Life Science Report 2024/2025

    The MIL Network –

  • MIL-OSI: Form 8.3 – [MARLOWE PLC – 04 07 2025] – (CGWL)

    Source: GlobeNewswire (MIL-OSI)

    FORM 8.3

    PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
    A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
    Rule 8.3 of the Takeover Code (the “Code”)

    1.        KEY INFORMATION

    (a)   Full name of discloser: CANACCORD GENUITY WEALTH LIMITED (for Discretionary clients)
    (b)   Owner or controller of interests and short positions disclosed, if different from 1(a):
            The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.    		 N/A
    (c)   Name of offeror/offeree in relation to whose relevant securities this form relates:
            Use a separate form for each offeror/offeree    		 MARLOWE PLC
    (d)   If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: N/A
    (e)   Date position held/dealing undertaken:
            For an opening position disclosure, state the latest practicable date prior to the disclosure    		 04 JULY 2025
    (f)   In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
            If it is a cash offer or possible cash offer, state “N/A”    		 NO

    2.        POSITIONS OF THE PERSON MAKING THE DISCLOSURE

    If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

    (a)      Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

    Class of relevant security: 50p ORDINARY
      Interests Short positions
    Number % Number %
    (1)   Relevant securities owned and/or controlled: 3,019,790 3.8458    
    (2)   Cash-settled derivatives:        
    (3)   Stock-settled derivatives (including options) and agreements to purchase/sell:        
    TOTAL: 3,019,790 3.8458    

    All interests and all short positions should be disclosed.

    Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

    (b)      Rights to subscribe for new securities (including directors’ and other employee options)

    Class of relevant security in relation to which subscription right exists:  
    Details, including nature of the rights concerned and relevant percentages:  

    3.        DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

    Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

    The currency of all prices and other monetary amounts should be stated.

    (a)        Purchases and sales

    Class of relevant security Purchase/sale Number of securities Price per unit
    50p ORDINARY SALE 845 440p

    (b)        Cash-settled derivative transactions

    Class of relevant security Product description
    e.g. CFD    		 Nature of dealing
    e.g. opening/closing a long/short position, increasing/reducing a long/short position    		 Number of reference securities Price per unit
    NONE        

    (c)        Stock-settled derivative transactions (including options)

    (i)        Writing, selling, purchasing or varying

    Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type
    e.g. American, European etc.    		 Expiry date Option money paid/ received per unit
    NONE              

    (ii)        Exercise

    Class of relevant security Product description
    e.g. call option    		 Exercising/ exercised against Number of securities Exercise price per unit

    (d)        Other dealings (including subscribing for new securities)

    Class of relevant security Nature of dealing
    e.g. subscription, conversion    		 Details Price per unit (if applicable)
    NONE      

    4.        OTHER INFORMATION

    (a)        Indemnity and other dealing arrangements

    Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
    Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”

    NONE

    (b)        Agreements, arrangements or understandings relating to options or derivatives

    Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:
    (i)   the voting rights of any relevant securities under any option; or
    (ii)   the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
    If there are no such agreements, arrangements or understandings, state “none”

    NONE

    (c)        Attachments

    Is a Supplemental Form 8 (Open Positions) attached? NO
    Date of disclosure: 07 JULY 2025
    Contact name: MARK ELLIOTT
    Telephone number: 01253 376539

    Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

    The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

    The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

    The MIL Network –

  • MIL-OSI: SAIC Announces Government Risk Reduction Effort Offering for No-Fail Mission Environments with ServiceNow

    Source: GlobeNewswire (MIL-OSI)

    RESTON, Va., July 07, 2025 (GLOBE NEWSWIRE) — Science Applications International Corp. (NASDAQ: SAIC) announced a strategic collaboration with ServiceNow for a new government risk reduction effort (RRE) offering for mission operations. The new offering will integrate into SAIC’s mission labs to help U.S. armed forces, intelligence and civilian agencies shift their IT risk efforts from a reactive function to autonomous resilience and no-fail mission environments.

    By leveraging the innovation of the ServiceNow AI Platform and integrating it directly into SAIC’s mission labs – collaborative, hands-on environments to design, test and validate solutions against real-world mission scenarios – the two companies are delivering real-time intelligence for decision-making, issue prediction and process automation to drive a critical future of zero outages, downtime or incidents. A pillar of the partnership is enabling customers to directly work with both companies to rapidly develop, test and seamlessly deploy secure, outcome-based IT services – ensuring a faster delivery of capabilities and tools that are scalable to meet today’s demands while anticipating tomorrow’s challenges. 

    “Our collaboration with ServiceNow is focused on bringing commercial grade technology, including agentic AI, that unlock efficiencies to the government,” said Josh Jackson, SAIC executive vice president of Army Business Group. “By combining our mission integration approach with ServiceNow’s innovative AI platform, we’re equipping agencies with the tools they need to accelerate modernization and provide positive user experiences.”

    “By working with SAIC we can deliver transformative solutions to the Army and broader defense and government community by accelerating mission success through innovation, automation and a focused effort to reduce technical debt. Together, with ServiceNow’s AI Platform for business transformation and SAIC’s defense expertise, we’re enabling a more agile, efficient and forward-looking digital future in meeting the government’s mission,” said Mark Jones, Director, Army & Mission Commands at ServiceNow.

    As an Elite partner of ServiceNow, SAIC brings proven capability across multiple product lines and mission environments to deliver transformative solutions at an enterprise scale for exceptional customer success within defense, civilian and intelligence markets. SAIC currently leads the largest federal implementation of ServiceNow through its work on the Army Enterprise Service Management Platform (AESMP) to improve Army operations and processes through enhanced Virtual Agent capabilities and demonstrating the company’s ability to operationalize complex, enterprise-scale solutions at the highest levels of government. The company’s collaboration with ServiceNow also offers the U.S. Navy, civilian agencies and state and local governments access to cutting-edge solutions to meet their mission-critical objectives more effectively.

    For more information about this collaboration and how it supports government digital transformation, visit SAIC.com.

    About SAIC 
    SAIC® is a premier Fortune 500 mission integrator focused on advancing the power of technology and innovation to serve and protect our world. Our robust portfolio of offerings across the defense, space, civilian and intelligence markets includes secure high-end solutions in mission IT, enterprise IT, engineering services and professional services. We integrate emerging technology, rapidly and securely, into mission critical operations that modernize and enable critical national imperatives.

    We are approximately 24,000 strong; driven by mission, united by purpose, and inspired by opportunities. Headquartered in Reston, Virginia, SAIC has annual revenues of approximately $7.5 billion. For more information, visit saic.com. For ongoing news, please visit our newsroom.

    Media Contact: 
    Caralyn Duke
    Caralyn.duke@saic.com

    Forward-Looking Statements
    Forward-Looking Statements Certain statements in this release contain or are based on “forward-looking” information within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by words such as “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “guidance,” and similar words or phrases. Forward-looking statements in this release may include, among others, estimates of future revenues, operating income, earnings, earnings per share, charges, total contract value, backlog, outstanding shares and cash flows, as well as statements about future dividends, share repurchases and other capital deployment plans. Such statements are not guarantees of future performance and involve risk, uncertainties and assumptions, and actual results may differ materially from the guidance and other forward-looking statements made in this release as a result of various factors. Risks, uncertainties and assumptions that could cause or contribute to these material differences include those discussed in the “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Legal Proceedings” sections of our Annual Report on Form 10-K, as updated in any subsequent Quarterly Reports on Form 10-Q and other filings with the SEC, which may be viewed or obtained through the Investor Relations section of our website at saic.com or on the SEC’s website at sec.gov. Due to such risks, uncertainties and assumptions you are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. SAIC expressly disclaims any duty to update any forward-looking statement provided in this release to reflect subsequent events, actual results or changes in SAIC’s expectations. SAIC also disclaims any duty to comment upon or correct information that may be contained in reports published by investment analysts or others.

    The MIL Network –

  • MIL-OSI: SAIC Announces Government Risk Reduction Effort Offering for No-Fail Mission Environments with ServiceNow

    Source: GlobeNewswire (MIL-OSI)

    RESTON, Va., July 07, 2025 (GLOBE NEWSWIRE) — Science Applications International Corp. (NASDAQ: SAIC) announced a strategic collaboration with ServiceNow for a new government risk reduction effort (RRE) offering for mission operations. The new offering will integrate into SAIC’s mission labs to help U.S. armed forces, intelligence and civilian agencies shift their IT risk efforts from a reactive function to autonomous resilience and no-fail mission environments.

    By leveraging the innovation of the ServiceNow AI Platform and integrating it directly into SAIC’s mission labs – collaborative, hands-on environments to design, test and validate solutions against real-world mission scenarios – the two companies are delivering real-time intelligence for decision-making, issue prediction and process automation to drive a critical future of zero outages, downtime or incidents. A pillar of the partnership is enabling customers to directly work with both companies to rapidly develop, test and seamlessly deploy secure, outcome-based IT services – ensuring a faster delivery of capabilities and tools that are scalable to meet today’s demands while anticipating tomorrow’s challenges. 

    “Our collaboration with ServiceNow is focused on bringing commercial grade technology, including agentic AI, that unlock efficiencies to the government,” said Josh Jackson, SAIC executive vice president of Army Business Group. “By combining our mission integration approach with ServiceNow’s innovative AI platform, we’re equipping agencies with the tools they need to accelerate modernization and provide positive user experiences.”

    “By working with SAIC we can deliver transformative solutions to the Army and broader defense and government community by accelerating mission success through innovation, automation and a focused effort to reduce technical debt. Together, with ServiceNow’s AI Platform for business transformation and SAIC’s defense expertise, we’re enabling a more agile, efficient and forward-looking digital future in meeting the government’s mission,” said Mark Jones, Director, Army & Mission Commands at ServiceNow.

    As an Elite partner of ServiceNow, SAIC brings proven capability across multiple product lines and mission environments to deliver transformative solutions at an enterprise scale for exceptional customer success within defense, civilian and intelligence markets. SAIC currently leads the largest federal implementation of ServiceNow through its work on the Army Enterprise Service Management Platform (AESMP) to improve Army operations and processes through enhanced Virtual Agent capabilities and demonstrating the company’s ability to operationalize complex, enterprise-scale solutions at the highest levels of government. The company’s collaboration with ServiceNow also offers the U.S. Navy, civilian agencies and state and local governments access to cutting-edge solutions to meet their mission-critical objectives more effectively.

    For more information about this collaboration and how it supports government digital transformation, visit SAIC.com.

    About SAIC 
    SAIC® is a premier Fortune 500 mission integrator focused on advancing the power of technology and innovation to serve and protect our world. Our robust portfolio of offerings across the defense, space, civilian and intelligence markets includes secure high-end solutions in mission IT, enterprise IT, engineering services and professional services. We integrate emerging technology, rapidly and securely, into mission critical operations that modernize and enable critical national imperatives.

    We are approximately 24,000 strong; driven by mission, united by purpose, and inspired by opportunities. Headquartered in Reston, Virginia, SAIC has annual revenues of approximately $7.5 billion. For more information, visit saic.com. For ongoing news, please visit our newsroom.

    Media Contact: 
    Caralyn Duke
    Caralyn.duke@saic.com

    Forward-Looking Statements
    Forward-Looking Statements Certain statements in this release contain or are based on “forward-looking” information within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by words such as “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “guidance,” and similar words or phrases. Forward-looking statements in this release may include, among others, estimates of future revenues, operating income, earnings, earnings per share, charges, total contract value, backlog, outstanding shares and cash flows, as well as statements about future dividends, share repurchases and other capital deployment plans. Such statements are not guarantees of future performance and involve risk, uncertainties and assumptions, and actual results may differ materially from the guidance and other forward-looking statements made in this release as a result of various factors. Risks, uncertainties and assumptions that could cause or contribute to these material differences include those discussed in the “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Legal Proceedings” sections of our Annual Report on Form 10-K, as updated in any subsequent Quarterly Reports on Form 10-Q and other filings with the SEC, which may be viewed or obtained through the Investor Relations section of our website at saic.com or on the SEC’s website at sec.gov. Due to such risks, uncertainties and assumptions you are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. SAIC expressly disclaims any duty to update any forward-looking statement provided in this release to reflect subsequent events, actual results or changes in SAIC’s expectations. SAIC also disclaims any duty to comment upon or correct information that may be contained in reports published by investment analysts or others.

    The MIL Network –

  • MIL-OSI: USDT-TRC20 and PBK Miner redefine crypto mining through stablecoin-powered cloud contracts

    Source: GlobeNewswire (MIL-OSI)

    LONDON, UNITED KINGDOM, July 07, 2025 (GLOBE NEWSWIRE) — Achieve stable passive income through USDT-TRC20 payouts and AI-optimized mining.  No hardware or complicated setup needed.

    In a market where volatility can wipe out gains overnight, a new alliance is reshaping the future of cryptocurrency mining. USDT-TRC20, the world’s leading dollar-backed stablecoin, has partnered with PBK Miner, a pioneer in AI cloud mining, to launch a disruptive solution: the new cloud mining contract not only supports top digital assets such as ETH, XRP, DOGE, USDC, and SOL, but now also allows users to mine and earn returns with USDT-TRC20. This strategic partnership brings investors the long-awaited rewards – secure passive income, zero technical setup, and true protection from price fluctuations.

    Explore cloud mining options compatible with USDT-TRC20 by clicking here.

    Cloud mining is more stable – pay and earn USDT-TRC20 now

    Cloud mining typically faces two challenges: complexity and volatility. PBK Miner’s 100% remote mining platform has solved the technical hurdles. Now, with USDT-TRC20 settled contracts, it also eliminates market risk. This new product allows users to earn daily rewards in USDT-TRC20 – a fully regulated, USD-pegged stablecoin – regardless of the movement of Bitcoin, Ethereum or other altcoins. With a contract period of just 2 days, anyone can start making a profit without having to purchase equipment or take the risk of a price crash.

    Main features of PBK Miner and USDT-TRC20 cloud mining contracts:

    – USDT-TRC20-based payouts: Users can purchase mining contracts with USDT-TRC20 and withdraw earnings in USDT-TRC20, ensuring stable returns that are not affected by market fluctuations.

    – Daily income: Get a fixed daily income during each contract period

    – Various contract terms: tailored to your goals (short-term or long-term)

    – Zero hardware required: mine from any device (mobile and desktop) – no rigs, no technical difficulties

    Flexible mining options for every budget

    PBKMiner offers various contract tiers to make cryptocurrency mining accessible to everyone.  All current tiers accept and process USDT-TRC20 payments and withdrawals. Whether you’re a newcomer looking for passive income or a seasoned miner prioritizing risk management, we have a plan tailored to your needs.

    $10 Contract – 1 Day – Earn $0.60 per day (Free Signup Bonus)

    $100 Contract – 2 Days – Earn $3.50 per day

    $500 Contract – 5 Days – Earn $6.50 per day

    $5,000 Contract – 30 Days – Earn $77.50 per day

    $30,000 Contract – 45 Days – Earn $525.00 per day

    These options allow users to keep their cryptocurrencies active without sacrificing peace of mind – ideal for those who want steady growth while avoiding price chart pressure.

    Click here to explore more mining contracts.

    What is the difference between using PBK Miner for USDT-TRC20 mining?

    – Stability over speculation: Unlike traditional mining rewards that fluctuate wildly, all revenue is distributed in the form of stable USDT-TRC20, allowing for predictable reinvestment and better financial planning.

    – Massive AI Optimization: Advanced algorithms automatically adjust performance to maximize daily returns on supported assets.

    – Instant access, completely remote: Contracts can be activated in seconds, without any hardware. Mining is managed entirely in the cloud. Mining can be done anytime, anywhere, just using a browser or the PBK Miner app, without any equipment or technical expertise required.

    – Capital Protection: At the end of each contract, the entire principal is returned, reducing financial risk and building long-term confidence.

    How to start using PBK Miner’s USDT-TRC20 contract:

    1. Sign up now – get a $10 bonus and start earning daily USDT-TRC20 rewards. (Click here to sign up)
    2. Choose a plan – try a short-term 2-day contract or explore higher-level options.
    3. Start mining– let the AI ??engine handle everything while daily USDT-TRC20 rewards arrive automatically.

    A safer, smarter way to mine in volatile markets

    Since 2019, PBK Miner has enabled users around the world to earn passive cryptocurrency income through advanced cloud mining. With the integration of USDT-TRC20 rewards, the platform now offers unparalleled income stability – combining innovation, automation, and financial security into a seamless solution. Whether mining ETH, DOGE, XRP, BTC, or other currencies, all rewards are now pegged to the US dollar and protected from sudden market drops.

    A spokesperson for PBK Miner (Alison Evans) said: “Our partnership with USDT-TRC20 allows users to mine with peace of mind. It’s not just about earning more, it’s about mining more safely. These contracts combine the best of both worlds: strong mining power and predictable returns.”

    The market may continue to fluctuate, but the returns may not. Visit https://pbkminer.com now to experience a stable and stress-free mining experience.

    Disclaimer: The information provided in this press release does not constitute an investment solicitation, nor does it constitute investment advice, financial advice, or a trading recommendation. Cryptocurrency mining and staking involve risks and may result in loss of funds. It is strongly recommended that you perform due diligence before investing or trading in cryptocurrencies and securities, including consulting a professional financial advisor.

    Media Contact:

    Alison Evans

    PBK Miner

    info@pbkminer.com

    Disclaimer: The information provided in this press release does not constitute an investment solicitation, nor does it constitute investment advice, financial advice, or trading recommendations. Cryptocurrency mining and staking involve risks and the possibility of losing funds. It is strongly recommended that you perform due diligence before investing or trading in cryptocurrencies and securities, including consulting a professional financial advisor.

    The MIL Network –

  • MIL-OSI: USDT-TRC20 and PBK Miner redefine crypto mining through stablecoin-powered cloud contracts

    Source: GlobeNewswire (MIL-OSI)

    LONDON, UNITED KINGDOM, July 07, 2025 (GLOBE NEWSWIRE) — Achieve stable passive income through USDT-TRC20 payouts and AI-optimized mining.  No hardware or complicated setup needed.

    In a market where volatility can wipe out gains overnight, a new alliance is reshaping the future of cryptocurrency mining. USDT-TRC20, the world’s leading dollar-backed stablecoin, has partnered with PBK Miner, a pioneer in AI cloud mining, to launch a disruptive solution: the new cloud mining contract not only supports top digital assets such as ETH, XRP, DOGE, USDC, and SOL, but now also allows users to mine and earn returns with USDT-TRC20. This strategic partnership brings investors the long-awaited rewards – secure passive income, zero technical setup, and true protection from price fluctuations.

    Explore cloud mining options compatible with USDT-TRC20 by clicking here.

    Cloud mining is more stable – pay and earn USDT-TRC20 now

    Cloud mining typically faces two challenges: complexity and volatility. PBK Miner’s 100% remote mining platform has solved the technical hurdles. Now, with USDT-TRC20 settled contracts, it also eliminates market risk. This new product allows users to earn daily rewards in USDT-TRC20 – a fully regulated, USD-pegged stablecoin – regardless of the movement of Bitcoin, Ethereum or other altcoins. With a contract period of just 2 days, anyone can start making a profit without having to purchase equipment or take the risk of a price crash.

    Main features of PBK Miner and USDT-TRC20 cloud mining contracts:

    – USDT-TRC20-based payouts: Users can purchase mining contracts with USDT-TRC20 and withdraw earnings in USDT-TRC20, ensuring stable returns that are not affected by market fluctuations.

    – Daily income: Get a fixed daily income during each contract period

    – Various contract terms: tailored to your goals (short-term or long-term)

    – Zero hardware required: mine from any device (mobile and desktop) – no rigs, no technical difficulties

    Flexible mining options for every budget

    PBKMiner offers various contract tiers to make cryptocurrency mining accessible to everyone.  All current tiers accept and process USDT-TRC20 payments and withdrawals. Whether you’re a newcomer looking for passive income or a seasoned miner prioritizing risk management, we have a plan tailored to your needs.

    $10 Contract – 1 Day – Earn $0.60 per day (Free Signup Bonus)

    $100 Contract – 2 Days – Earn $3.50 per day

    $500 Contract – 5 Days – Earn $6.50 per day

    $5,000 Contract – 30 Days – Earn $77.50 per day

    $30,000 Contract – 45 Days – Earn $525.00 per day

    These options allow users to keep their cryptocurrencies active without sacrificing peace of mind – ideal for those who want steady growth while avoiding price chart pressure.

    Click here to explore more mining contracts.

    What is the difference between using PBK Miner for USDT-TRC20 mining?

    – Stability over speculation: Unlike traditional mining rewards that fluctuate wildly, all revenue is distributed in the form of stable USDT-TRC20, allowing for predictable reinvestment and better financial planning.

    – Massive AI Optimization: Advanced algorithms automatically adjust performance to maximize daily returns on supported assets.

    – Instant access, completely remote: Contracts can be activated in seconds, without any hardware. Mining is managed entirely in the cloud. Mining can be done anytime, anywhere, just using a browser or the PBK Miner app, without any equipment or technical expertise required.

    – Capital Protection: At the end of each contract, the entire principal is returned, reducing financial risk and building long-term confidence.

    How to start using PBK Miner’s USDT-TRC20 contract:

    1. Sign up now – get a $10 bonus and start earning daily USDT-TRC20 rewards. (Click here to sign up)
    2. Choose a plan – try a short-term 2-day contract or explore higher-level options.
    3. Start mining– let the AI ??engine handle everything while daily USDT-TRC20 rewards arrive automatically.

    A safer, smarter way to mine in volatile markets

    Since 2019, PBK Miner has enabled users around the world to earn passive cryptocurrency income through advanced cloud mining. With the integration of USDT-TRC20 rewards, the platform now offers unparalleled income stability – combining innovation, automation, and financial security into a seamless solution. Whether mining ETH, DOGE, XRP, BTC, or other currencies, all rewards are now pegged to the US dollar and protected from sudden market drops.

    A spokesperson for PBK Miner (Alison Evans) said: “Our partnership with USDT-TRC20 allows users to mine with peace of mind. It’s not just about earning more, it’s about mining more safely. These contracts combine the best of both worlds: strong mining power and predictable returns.”

    The market may continue to fluctuate, but the returns may not. Visit https://pbkminer.com now to experience a stable and stress-free mining experience.

    Disclaimer: The information provided in this press release does not constitute an investment solicitation, nor does it constitute investment advice, financial advice, or a trading recommendation. Cryptocurrency mining and staking involve risks and may result in loss of funds. It is strongly recommended that you perform due diligence before investing or trading in cryptocurrencies and securities, including consulting a professional financial advisor.

    Media Contact:

    Alison Evans

    PBK Miner

    info@pbkminer.com

    Disclaimer: The information provided in this press release does not constitute an investment solicitation, nor does it constitute investment advice, financial advice, or trading recommendations. Cryptocurrency mining and staking involve risks and the possibility of losing funds. It is strongly recommended that you perform due diligence before investing or trading in cryptocurrencies and securities, including consulting a professional financial advisor.

    The MIL Network –

  • MIL-OSI: Enovix Announces Preliminary Second Quarter 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    FREMONT, Calif., July 07, 2025 (GLOBE NEWSWIRE) — Enovix Corporation (Nasdaq: ENVX) (“Company” or “Enovix”), a global high-performance battery company, today announced preliminary selected unaudited financial results for the second quarter ended June 29, 2025:

    • Revenue was $7.5 million in the second quarter of 2025, exceeding our guidance range of $4.5 million to $6.5 million and nearly doubled from the second quarter of 2024, driven by customer demand across multiple end markets.
    • GAAP Gross Profit was $0.8 million and non-GAAP Gross Profit was $1.2 million, marking our third consecutive quarter of positive gross profit on both a GAAP and non-GAAP basis. This compares favorably to a gross loss of $0.7 million on a GAAP basis and gross loss of $0.6 million on a non-GAAP basis in the second quarter of 2024.
    • GAAP Operating Loss was $43.8 million and non-GAAP Operating Loss was $27.8 million, beating our guidance range of $31 to $37 million and compared to $88.8 million on a GAAP basis and $31.5 million on a non-GAAP basis in the second quarter of 2024.
    • GAAP Net Loss Attributable to Enovix was $43.3 million, improved from the $115.9 million in the second quarter of 2024. Non-GAAP Net Loss Attributable to Enovix was $28.4 million, as compared to the $24.9 million in the second quarter of 2024.
    • Adjusted EBITDA Loss narrowed to $21.4 million, ahead of our guidance range of $23 million to $29 million, and improved from the $26.4 million in the same period a year ago.
    • GAAP net loss per share attributable to Enovix was $0.22 and non-GAAP net loss per share attributable to Enovix was $0.15, at the favorable end of our guidance range of $0.15 to $0.21 per share and compared to $0.67 on a GAAP basis and $0.14 on a non-GAAP basis in the second quarter of 2024.
    • Cash, cash equivalents, and short-term investments were approximately $203 million as of the quarter ended June 29, 2025, after completing the SolarEdge asset acquisition in South Korea and making other capital expenditure payments principally related to Fab2.

    “This marks our fifth straight quarter exceeding the midpoint of guidance for both revenue and adjusted EBITDA,” said Dr. Raj Talluri, Chief Executive Officer. “We’re executing to plan, building momentum, and positioned to scale significantly as our new products and customers come online.”

    Preliminary and unaudited financial results are provided above and below. Final results remain subject to completion of the company’s standard quarter-end close procedures and potential adjustments. Enovix will host its Q2 2025 earnings call and webcast in late July or early August and details will be announced separately.

    About Enovix

    Enovix is on a mission to deliver high-performance batteries that unlock the full potential of technology products. Everything from IoT, mobile, and computing devices, to the vehicle you drive, needs a better battery. Enovix partners with OEMs worldwide to usher in a new era of user experiences. Our innovative, materials-agnostic approach to building a higher performing battery without compromising safety keeps us flexible and on the cutting-edge of battery technology innovation.

    Enovix is headquartered in Silicon Valley with facilities in India, South Korea and Malaysia. For more information visit https://enovix.com and follow us on LinkedIn.

    Non-GAAP Financial Measures

    Non-GAAP Gross Profit, non-GAAP Operating Loss, Adjusted EBITDA, non-GAAP net loss attributable to Enovix, non-GAAP net loss per share, and other non-GAAP measures are intended as supplemental financial measures of our performance that provide an additional tool for investors to use in evaluating ongoing operating results, trends, and in comparing our financial measures with those of comparable companies.

    However, you should be aware that other companies may calculate similar non-GAAP measures differently. Non-GAAP financial measures have limitations, including that they exclude certain expenses that are required under GAAP, which adjustments reflect the exercise of judgment by management. Reconciliations of each non-GAAP financial measure to the most directly comparable GAAP financial measure can be found in the tables at the end of this press release.

    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. Forward-looking statements generally relate to future events or our future financial or operating performance and can be identified by words such as anticipate, believe, continue, could, estimate, expect, intend, may, might, plan, possible, potential, predict, preliminary, project, setting the stage, should, would and similar expressions that convey uncertainty about future events or outcomes. Forward-looking statements in this press release include, without limitation, our expected performance and preliminary financial results for the second quarter of 2025, including, without limitation, with respect to our second quarter 2025 revenue, GAAP and non-GAAP Gross Profit, GAAP and non-GAAP net operating loss, EBITDA and adjusted EBITDA, GAAP and non-GAAP net loss per share attributable to Enovix, and GAAP and non-GAAP earnings per share attributable to Enovix, as well our expectations regarding building momentum, and positioning to scale significantly as our new products and customers come online.

    Actual results could differ materially from these forward-looking statements as a result of certain risks and uncertainties, including, without limitation, any adjustments, changes or revisions to our financial results arising from our financial closing procedures and the completion of our financial statements for the second quarter of 2025; our ability to improve energy density, cycle life, fast charging, capacity roll off and gassing metrics among our products; our reliance on new and complex manufacturing processes for our operations; our ability to establish sufficient manufacturing operations and improve and optimize manufacturing processes to meet demand, source materials and establish supply relationships, and secure adequate funds to execute on our operational and strategic goals; our reliance on a manufacturing agreement with a Malaysia-based company for many of the facilities, procurement, personnel and financing needs of our operations; our operation in international markets, including our exposure to operational, financial and regulatory risks, as well as risks relating to geopolitical tensions and conflicts, including changes in trade policies and regulations; that we may be required to pay costs for components and raw materials that are more expensive than anticipated, including as a result of trade barriers, trade sanctions, export restrictions, tariffs, embargoes or shortages and other general economic and political conditions, which could delay the introduction of our products and negatively impact our business; our ability to adequately control the costs associated with our operations and the components necessary to build our lithium-ion battery cells; our lengthy sales cycles; the safety hazards associated with our batteries and the manufacturing process; a concentration of customers in the military market and our dependence on these customer accounts; certain unfavorable terms in our commercial agreements that may limit our ability to market our products; our ability to develop, market and sell our batteries, expectations relating to the performance of our batteries, and market acceptance of our products; our ability to accurately estimate the future supply and demand of our batteries, which could result in a variety of inefficiencies in our business; changes in consumer preferences or demands; changes in industry standards; the impact of technological development and competition; and global economic conditions, including tariffs, inflationary and supply chain pressures, and political, social, and economic instability, including as a result of armed conflict, war or threat of war, or trade and other international disputes that could disrupt supply or delivery of, or demand for, our products. For additional information on these risks and uncertainties and other potential factors that could cause actual results to differ from the results predicted, please refer to our filings with the Securities and Exchange Commission (“SEC”), including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of our annual report on Form 10-K and quarterly reports on Form 10-Q and other documents that we have filed, or will file, with the SEC.

    The financial results presented herein are preliminary and based on information known by management as of the date of this press release; final financial results will be included in the Company’s quarterly report on Form 10-Q for the fiscal quarter ended June 29, 2025. As a result, the financial results presented in this press release may change in connection with the finalization of our closing and reporting processes and may not represent the actual financial results for the second quarter ended June 29, 2025. Any forward-looking statements in this press release speak only as of the date on which they are made. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

    Contacts:

    Investors
    Robert Lahey
    ir@enovix.com

    Chief Financial Officer
    Ryan Benton
    ryan.benton@enovix.com

    Reconciliation of Gross Profit to Non-GAAP Gross Profit

    Below is a reconciliation of GAAP gross profit to non-GAAP gross profit (preliminary and unaudited) (in thousands).

        Fiscal Quarters Ended
        June 29, 2025   June 30, 2024
    GAAP gross profit   $         795   $         (655 )
    Stock-based compensation expense             356             95  
    Non-GAAP gross profit   $         1,151   $         (560 )
                   

    Net Loss Attributable to Enovix to Adjusted EBITDA Reconciliation

    While we prepare our consolidated financial statements in accordance with GAAP, we also utilize and present certain financial measures that are not based on GAAP. We refer to these financial measures as “non-GAAP” financial measures. In addition to our financial results determined in accordance with GAAP, we believe that EBITDA and Adjusted EBITDA are useful measures in evaluating its financial and operational performance distinct and apart from financing costs, certain non-cash expenses and non-operational expenses.

    These non-GAAP financial measures should be considered in addition to results prepared in accordance with GAAP but should not be considered a substitute for or superior to GAAP. We endeavor to compensate for the limitation of the non-GAAP financial measures presented by also providing the most directly comparable GAAP measures.

    We use non-GAAP financial information to evaluate our ongoing operations and for internal planning, budgeting and forecasting purposes. We believe that non-GAAP financial information, when taken collectively, may be helpful to investors in assessing its operating performance and comparing its performance with competitors and other comparable companies. You should review the reconciliations below but not rely on any single financial measure to evaluate our business.

    “EBITDA” is defined as earnings (net loss) attributable to Enovix adjusted for interest expense, income tax benefit, depreciation and amortization expense. “Adjusted EBITDA” includes additional adjustments to EBITDA such as stock-based compensation expense, change in fair value of common stock warrants, inventory step-up, impairment of equipment and other special items as determined by management which it does not believe to be indicative of its underlying business trends.

    Below is a reconciliation of net loss attributable to Enovix on a GAAP basis to the non-GAAP EBITDA and Adjusted EBITDA financial measures for the periods presented below (preliminary and unaudited) (in thousands):

      Fiscal Quarters Ended  
      June 29, 2025   June 30, 2024  
    Net loss attributable to Enovix $         (43,347 )   $         (115,872 )  
    Interest income, net           (599 )             (1,635 )  
    Income tax benefit           —                (4,586 )  
    Depreciation and amortization           8,855               5,943    
    EBITDA           (35,091 )             (116,150 )  
    Stock-based compensation expense (1)           14,121               17,932    
    Change in fair value of common stock warrants           5,885               33,660    
    Acquisition cost           663               —     
    Gain on bargain purchase of assets           (6,944 )             —     
    Restructuring cost (1)           —                38,146    
    Adjusted EBITDA $         (21,366 )   $         (26,412 )  

    (1) $1.1 million of stock-based compensation expense is included in the restructuring cost line of the table above for the fiscal quarter ended June 30, 2024.

    Reconciliation of Operating Loss to Non-GAAP Operating Loss and Adjusted EBITDA

    Additionally, below is a reconciliation of GAAP operating loss to non-GAAP operating loss and adjusted EBITDA for the periods presented (preliminary and unaudited) (in thousands).

    These non-GAAP measures may differ from similarly titled measures used by other companies.

      Fiscal Quarters Ended  
      June 29, 2025   June 30, 2024  
             
    GAAP Operating Loss $         (43,750 )   $         (88,750 )  
    Stock-based compensation expense (1)           14,121               17,932    
    Amortization of intangible assets           1,189               1,189    
    Acquisition cost           663               —     
    Restructuring cost (1)           —                38,146    
    Non-GAAP Operating Loss           (27,777 )             (31,483 )  
    Depreciation and amortization (excluding amortization of intangible assets)           7,666               4,754    
    Other income (loss), net           (993 )             242    
    Net loss (income) attributable to non-controlling interest           (261 )             75    
    Adjusted EBITDA $         (21,365 )   $         (26,412 )  

    (1) $1.1 million of stock-based compensation expense is included in the restructuring cost line of the table above for the fiscal quarter ended June 30, 2024.

    Reconciliation of Non-GAAP Net Loss Attributable to Enovix and Non-GAAP Net Loss Per Share Attributable to Enovix

    Below is a reconciliation of GAAP net loss attributable to Enovix to non-GAAP net loss attributable to Enovix for the periods presented (preliminary and unaudited) (in thousands).

    These non-GAAP measures may differ from similarly titled measures used by other companies.

        Fiscal Quarters Ended  
        June 29, 2025   June 30, 2024  
    GAAP net loss attributable to Enovix   $         (43,347 )   $         (115,872 )  
    Stock-based compensation expense (1)             14,121               17,932    
    Change in fair value of common stock warrants             5,885               33,660    
    Amortization of intangible assets             1,189               1,189    
    Acquisition cost             663               —     
    Gain on bargain purchase of assets             (6,944 )             —     
    Restructuring cost (1)             —                38,146    
    Non-GAAP net loss attributable to Enovix shareholders   $         (28,433 )   $         (24,945 )  
               
    GAAP net loss per share attributable to Enovix, basic and diluted   $         (0.22 )   $         (0.67 )  
    GAAP weighted average number of common shares outstanding, basic and diluted             192,675,756               172,399,172    
               
    Non-GAAP net loss per share attributable to Enovix, basic and diluted   $         (0.15 )   $         (0.14 )  
    GAAP weighted average number of common shares outstanding, basic and diluted             192,675,756               172,399,172    

    (1) $1.1 million of stock-based compensation expense is included in the restructuring cost line of the table above for the fiscal quarter ended June 30, 2024.

    The MIL Network –

  • MIL-OSI: iRhythm Technologies Announces Board Member Retirements and New Director Appointments

    Source: GlobeNewswire (MIL-OSI)

    SAN FRANCISCO, July 07, 2025 (GLOBE NEWSWIRE) — iRhythm Technologies, Inc. (NASDAQ:IRTC) , a leading digital health care company focused on creating trusted solutions that detect, predict, and prevent disease, today announced the retirement of two long-serving board members, Mark Rubash and Ralph Snyderman, M.D., effective July 7, 2025. Concurrently, Karen McGinnis and Kevin O’Boyle have accepted appointments to the board of directors.

    Mark Rubash has served on the board since 2016, prior to the company’s initial public offering, bringing decades of experience in finance, accounting, and strategy at high-growth technology companies. Ralph Snyderman, M.D., who joined the board in 2017, brought unparalleled clinical expertise and was a driving force in leading iRhythm through complex digital technology challenges early in the company’s trajectory. The leaders decided to leave the board to pursue personal endeavors in their retirement.

    “It has been an extraordinary privilege to serve on the board of iRhythm during a period of tremendous growth and maturation,” said Mr. Rubash. “I’ve seen firsthand how this company continues to pioneer, evolve, and put its values into action. I leave with incredible confidence in management, the board, and the company’s bright future.”

    Dr. Snyderman added, “The eight years I’ve spent on the board of iRhythm have provided some of the most rewarding experiences of my professional life. I’m extremely proud of what iRhythm has accomplished for the benefit of millions of patients globally and am excited to watch the company execute its long-range plan and innovate into the future.”

    iRhythm’s newly appointed board members bring deep financial expertise, business acumen, and strategic operational experience from within the medical and biotechnology industry. With their appointment to the board of directors, both Mr. O’Boyle and Ms. McGinnis have also been appointed to serve as members of the Company’s Audit Committee, and Mr. O’Boyle will serve as a member of the Nominating & Governance Committee.

    “We are profoundly grateful to Mark and Ralph for their service, wisdom, and steadfast leadership during the better part of a decade, playing crucial roles in the establishment of iRhythm as a pioneer in ambulatory cardiac monitoring and digital health innovation,” said Abhi Talwalkar, Chairman of the Board of Directors. “Their guidance has helped navigate a period of substantial company maturation while also helping to shape iRhythm’s long-term vision. At the same time, we are thrilled to welcome Karen and Kevin, whose extensive experiences, global expertise, and unique insights at global medical companies will be invaluable as we enter our next phase of growth.”

    About Karen McGinnis

    Karen McGinnis is an accomplished senior executive and board member with over three decades of experience leading complex international companies across biotechnology, consumer electronics, semiconductor, and technology industries. She has demonstrated expertise in driving results for organizations ranging from under $100 million to over $5 billion in annual revenue, with a proven track record in both growth and turnaround situations. Her most recent executive role was Chief Accounting Officer at Illumina, Inc. (NASDAQ: ILMN) from 2017 to 2021, where she led global accounting and tax operations for the genomics leader. Previously, she served as CEO, board member, and CFO of Mad Catz Interactive, a manufacturing gaming brand of interactive entertainment and computer products, where she successfully executed a global restructuring plan that reduced annual operating expenses and navigated complex liquidation proceedings across eight countries.

    Throughout her career, Ms. McGinnis has built a reputation as a hands-on leader focused on building quality teams, implementing key processes, and maintaining the highest standards of integrity and ethics. Her extensive experience spans strategic planning, acquisitions and integrations, capital raises including IPOs, SEC reporting and compliance, and international operations. McGinnis currently serves on multiple public company boards, including as board member and Audit Committee Chair at Alphatec Holdings (NASDAQ: ATEC) and Absci Corporation (NASDAQ: ABSI), where she previously served as Lead Independent Director.

    Ms. McGinnis holds a bachelor’s degree in accounting from the University of Oklahoma and is a Certified Public Accountant.

    About Kevin O’Boyle

    Kevin O’Boyle brings over 20 years of executive leadership experience, most notably as Executive Vice President and Chief Financial Officer at NuVasive, where he helped grow the company’s market capitalization from $100 million to $2 billion. Under his financial leadership, NuVasive met or exceeded Wall Street expectations for 23 consecutive quarters while achieving an average compound annual growth rate of over 45 percent and expanding Wall Street research coverage from four to 24 analysts. His executive experience also includes CFO and COO roles at Advanced BioHealing, ChromaVision Medical Systems, and Albert Fisher.

    Mr. O’Boyle has served on the boards of directors of multiple public companies over the past decade, notably as Chairman of GenMark Molecular Diagnostics (acquired by Roche) and Audit Committee Chair roles at Wright Medical Group (acquired by Stryker), ZELTIQ (acquired by Allergan), and Nevro (acquired by Globus Medical). He currently serves as Audit Committee Chair at Outset Medical (NASDAQ: OM) and Carlsmed.

    Mr. O’Boyle holds a bachelor’s degree in accounting from Rochester Institute of Technology and completed executive management studies at UCLA Anderson School of Management.

    About iRhythm Technologies
    iRhythm is a leading digital health care company that creates trusted solutions that detect, predict, and prevent disease. Combining wearable biosensors and cloud-based data analytics with powerful proprietary algorithms, iRhythm distills data from millions of heartbeats into clinically actionable information. Through a relentless focus on patient care, iRhythm’s vision is to deliver better data, better insights, and better health for all.

    Investor Contact
    Stephanie Zhadkevich
    investors@irhythmtech.com

    Media Contact
    Kassandra Perry
    irhythm@highwirepr.com

    The MIL Network –

  • MIL-OSI: Enovix Launches AI-1™: A Revolutionary Silicon-Anode Smartphone Battery Platform

    Source: GlobeNewswire (MIL-OSI)

    FREMONT, Calif., July 07, 2025 (GLOBE NEWSWIRE) — Enovix Corporation (Nasdaq: ENVX) (“Enovix”), a leader in advanced silicon battery technology, today announced the launch of the AI-1TM platform, its Artificial Intelligence ClassTM batteries for the next generation of mobile smartphones that require significantly higher total energy storage and power to perform AI functions locally. This revolutionary silicon-anode smartphone battery platform is protected by 190 Enovix architecture-specific patents that enable the use of 100% active silicon anodes. Last week, the company sampled its first 7,350 milliampere-hour (mAh) AI-1 batteries to a leading smartphone OEM for qualification in the first ever 100% silicon-anode battery smartphone launch.

    With energy density exceeding 900 watt-hours per liter (Wh/L) and advanced capabilities for high discharge rate and long cycle life, Enovix believes AI-1 is the highest energy density battery commercially available in the market today. The company’s patented battery architecture overcomes the notorious silicon anode swelling problems, enabling exceptional performance without compromising safety or longevity. The higher energy density provided by the AI-1 enables smartphone manufacturers to take full advantage of AI-enabled applications without requiring frequent charging cycles.  

    AI-1 Performance Highlights*:

    • >900 Wh/L energy density – highest commercially available
    • Fast charging at 3C rates – 20% charged in 5 minutes, 50% charged in 15 minutes
    • 900+ cycles in standard smartphone usage based on initial unit testing
    • High discharge capability across wide temperature ranges – ideal for AI applications
    • Passed Enovix Safety Test Suite (ESTS): drop, tumble, thermal abuse, and external short circuit test

    * Based on internal testing

    “Enovix invented technology that led the industry in energy density for wearables in 2023 thanks to our unique architecture and the use of 100% silicon-anode technology,” said Dr. Raj Talluri, CEO of Enovix. “However, when I joined as CEO, I recognized that the portion of the wearables market immediately available to us would not be enough to support our full revenue plan, so I decided to take the opportunity to introduce our breakthrough battery to the much bigger smartphone market and the Enovix story to the smartphone accounts that I knew well from running Micron’s $6 billion mobile memory division. With the launch of AI Class technology, we are now sampling production AI-1 batteries to those customers who demand not only industry-leading energy density, but have other stringent requirements for cycle life, fast charging, and safety. Enovix is now positioned to support the next generation of smartphones in a 1.2-billion unit market.”

    T.J. Rodgers, Enovix Chairman, said, “The AI Class technology is a breakthrough in utilizing the significant but difficult-to-realize benefits of silicon anodes to win in the AI Class smartphone market. The approximate 80,000 wearable batteries produced in our Fremont fab – and even the fab itself – all had to be re-engineered to meet the challenges of the first AI-1 battery. To move from small wearable batteries – with low power consumption and 500-cycle life – to the big, high-power, AI Class batteries, we had to change the anode (five times), the cathode (three times), the electrolyte (ten-plus times), and even the stainless-steel constraint and separator. Each experimental set took months to create and evaluate, and that effort was only possible because of the scale of our 50-engineer R&D group which touts 30 PhDs. Making these major changes was the primary cause of the delay between my January 3, 2023 presentation to shareholders and the sampling of the AI-1. That two-year delay was frustrating, but we are now on the other side of the problem with 100 R&D man-years of distance added between us and our competitors. We have also discovered that our AI Class process, which produces 900 smartphone Wh/L of energy density, will produce wearable batteries meeting 2023 smartwatch requirements with over 1,000 Wh/L of energy density due to the added capabilities of the AI Class process.

    Rodgers continued, “An AI-1 battery, built in our Malaysian production facility, is shown in Figure 1. While it is only 1.79 cubic inches in volume, it holds 7.35 amp-hours of charge and 26.3 watt-hours of energy. Humans cannot comprehend the high rate of energy use in the AI world because it is dissipated invisibly by charging and discharging the 100 billion transistors on a modern AI chip. In the Figure, we also show the same 26.3 Whrs of energy applied to a human-scale problem, lifting a 4,948-pound truck to a working height of 4.7 feet on a commercially available hydraulic lift – three times on one battery charge.

    Rodgers concluded, “We have over $200 million in the bank and thank our shareholders for supporting us on every step of our journey. I started at Enovix in 2012 and have learned that making a new state-of-the-art battery is a decade-long marathon, a lot more difficult than a one-generation change in semiconductors under Moore’s Law. It all started that way for the Sony corporation, which took 10 years to bring the first lithium-ion battery to market in 1991. Fortunately, we expect future generations of the AI Class technology to reuse this foundation, allowing us to raise the bar on energy density progressively as we transfer each new AI process modification to our Malaysian factory.”

    AI-1 is currently available to select smartphone OEMs. Broader availability is expected later in 2025.

    Figure 1. The first AI-1 cell is just 1.79 cu. in. in volume, yet it contains 26.3 watt-hours of electrical energy, enough to power a typical car lift to raise and lower a 4,948-pound truck to a working height of 4.7 ft – three times per charge.

    About Enovix Corporation

    Enovix is a leader in advancing lithium-ion battery technology with its proprietary cell architecture designed to deliver higher energy density and improved safety. The Company’s breakthrough silicon-anode batteries are engineered to power a wide range of devices from wearable electronics and mobile communications to industrial and electric vehicle applications. Enovix’s technology enables longer battery life and faster charging, supporting the growing global demand for high-performance energy storage. Enovix holds a robust portfolio of issued and pending patents covering its core battery design, manufacturing process, and system integration innovations. For more information, visit https://www.enovix.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. Forward-looking statements generally relate to future events or our future financial or operating performance and can be identified by words such as anticipate, believe, continue, could, estimate, expect, intend, may, might, plan, possible, potential, predict, should, would and similar expressions that convey uncertainty about future events or outcomes. Forward-looking statements in this press release include, without limitation, our expectations that AI-1 represents the highest energy density battery commercially available, that the AI-1 battery enables smartphone manufacturers to take full advantage of AI-enabled applications without compromising battery life, that our unique battery architecture enables exceptional performance without compromising safety or longevity, that the recently shipped smartphone samples exceed industry standards and meet certain demanding standards for fast charging, long cycle life, and temperature resilience, that we lead the industry in energy density for wearables, the benefits and the timing of our first expected commercial product launch, that we have upgraded our prior watch battery product to AI-1 standards and our long-term scale-up plans. Actual results and outcomes could differ materially from these forward-looking statements as a result of certain risks and uncertainties, including, without limitation, those risks and uncertainties and other potential factors set forth in our filings with the SEC, including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of our most recently filed annual report on Form 10-K and quarterly reports on Form 10-Q and other documents that we have filed, or that we will file, with the SEC. For a full discussion of these risks, please refer to Enovix’s filings with the SEC, including its most recent Form 10-K and Form 10-Q, available at https://ir.enovix.com and www.sec.gov. Any forward-looking statements made by us in this press release speak only as of the date on which they are made and subsequent events may cause these expectations to change. We disclaim any obligations to update or alter these forward-looking statements in the future, whether as a result of new information, future events or otherwise, except as required by law.

    Contacts:

    Investors
    Robert Lahey
    ir@enovix.com

    CFO
    Ryan Benton
    rbenton@enovix.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f9db38ec-43e9-4d87-93de-22f1181c5b9d

    The MIL Network –

  • MIL-OSI: Ormat Technologies, Inc. to Host Conference Call Announcing Second Quarter 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    RENO, Nev., July 07, 2025 (GLOBE NEWSWIRE) — Ormat Technologies Inc. (NYSE: ORA) (the “Company” or “Ormat”), a leading geothermal and renewable energy company, today announced that it plans to publish its second quarter financial results in a press release that will be issued on Wednesday, August 6, 2025, after the market closes. In conjunction with this report, the Company has scheduled a conference call to discuss the results at 10:00 a.m. ET on Thursday, August 7, 2025.

    Participants within the United States and Canada, please dial 1-800-715-9871, approximately 15 minutes prior to the scheduled start of the call. If you are calling from outside the United States or Canada, please dial +1-646-960-0440. The access code for the call is 3818407. Please request the “Ormat Technologies, Inc. call” when prompted by the conference call operator. The conference call will also be accompanied by a live webcast, accessed on the Investor Relations section of the Company’s website.

    A replay will be available one hour after the end of the conference call. To access the replay within the United States and Canada, please dial 1-800-770-2030. From outside of the United States and Canada, please dial +1-647-362-9199. Please use the replay access code 3818407. The webcast will also be archived on the Investor Relations section of the Company’s website.

    ABOUT ORMAT TECHNOLOGIES

    With six decades of experience, Ormat Technologies, Inc. is a leading geothermal company, and the only vertically integrated company engaged in geothermal and recovered energy generation (“REG”), with robust plans to accelerate long-term growth in the energy storage market and to establish a leading position in the U.S. energy storage market. The Company owns, operates, designs, manufactures and sells geothermal and REG power plants primarily based on the Ormat Energy Converter – a power generation unit that converts low-, medium- and high-temperature heat into electricity. The Company has engineered, manufactured and constructed power plants, which it currently owns or has installed for utilities and developers worldwide, totaling approximately 3,400 MW of gross capacity. Ormat leveraged its core capabilities in the geothermal and REG industries and its global presence to expand the Company’s activity into energy storage services, solar Photovoltaic (PV) and energy storage plus Solar PV. Ormat’s current total generating portfolio is 1,558MW with a 1,268MW geothermal and solar generation portfolio that is spread globally in the U.S., Kenya, Guatemala, Indonesia, Honduras, and Guadeloupe, and a 290MW energy storage portfolio that is located in the U.S.

    Ormat Technologies Contact:
    Smadar Lavi
    VP, Head of IR and ESG Planning & Reporting
    775-356-9029 (ext. 65726)
    slavi@ormat.com    		 Investor Relations Agency Contact:
    Joseph Caminiti or Josh Carroll
    Alpha IR Group
    312-445-2870
    ORA@alpha-ir.com

    The MIL Network –

  • MIL-OSI: POET Technologies Announces US$25 Million Offering

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, July 07, 2025 (GLOBE NEWSWIRE) — POET Technologies Inc. (“POET” or the “Corporation“) (TSXV: PTK; NASDAQ: POET), a leader in the design and implementation of highly-integrated optical engines and light sources for artificial intelligence networks today announces its intention to complete a non-brokered public offering of 5,000,000 units of the Corporation (the “Units“) at a price of US$5.00 per Unit (the “Issue Price“) for aggregate gross proceeds to the Corporation of US$25 million (the “Offering“). Each Unit will be comprised of one common share of the Corporation (each, a “Common Share“) and one common share purchase warrant of the Corporation (each, a “Warrant“), with each Warrant being exercisable to acquire one Common Share at a price of C$8.16 for a period of five years from the date of issuance.

    The Issue Price represents a discount of approximately 12.0% from the closing price of the Common Shares on the TSX Venture Exchange on Friday, July 4, 2025. The Corporation anticipates using the net proceeds of the Offering for working capital and general corporate purposes.

    The Offering will be made by way of a prospectus supplement (the “Prospectus Supplement“) to the short form base shelf prospectus of the Corporation dated September 6, 2024, which Prospectus Supplement will be prepared and filed by the Corporation prior to the closing of the Offering with the securities regulatory authorities in each of the provinces and territories of Canada, as well as with the U.S. Securities and Exchange Commission as part of the Corporation’s U.S. registration statement on Form F-10 (“Form F-10“) (Registration No. 333-280553) under the U.S.-Canada Multijurisdictional Disclosure System, with such additions thereto and deletions therefrom as may be permitted or required by Form F-10. The Offering is expected to be fully subscribed by a single institutional investor in Canada that qualifies as an “accredited investor” under National Instrument 45-106 – Prospectus Exemptions of the Canadian Securities Administrators.

    The consummation of the Offering remains subject to the receipt of all regulatory approvals, including the approval of the TSX Venture Exchange (the “Exchange“), and the satisfaction of other customary closing conditions. No commission or finder’s fee will be paid in connection with the Offering.

    “We are very fortunate to have had strong interest from institutional, strategic and public market investors over the past 15 months, due largely to a compelling value proposition that combines key technical and commercial achievements with a vast market opportunity, rewarding innovative hardware solutions in Artificial Intelligence networks and systems,” said Thomas Mika, Executive Vice President and Chief Financial Officer of POET. “We have raised over US$100 million in equity capital at increasingly higher prices over the past year and have thereby achieved all of our near-term financing goals for the Corporation.”

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

    About POET Technologies Inc.

    POET is a design and development company offering high-speed optical engines, light source products and custom optical modules to the artificial intelligence systems market and to hyperscale data centers.  POET’s photonic integration solutions are based on the POET Optical Interposer™, a novel, patented platform that allows the seamless integration of electronic and photonic devices into a single chip using advanced wafer-level semiconductor manufacturing techniques. POET’s Optical Interposer-based products are lower cost, consume less power than comparable products, are smaller in size and are readily scalable to high production volumes. In addition to providing high-speed (800G, 1.6T and above) optical engines and optical modules for AI clusters and hyperscale data centers, POET has designed and produced novel light source products for chip-to-chip data communication within and between AI servers, the next frontier for solving bandwidth and latency problems in AI systems.  POET’s Optical Interposer platform also solves device integration challenges across a broad range of communication, computing and sensing applications.  POET is headquartered in Toronto, Canada, with operations in Singapore, Penang, Malaysia and Shenzhen, China.  More information about POET is available on our website at www.poet-technologies.com

    Cautionary Note Regarding Forward-Looking Information

    This news release contains “forward-looking information” (within the meaning of applicable Canadian securities laws) and “forward-looking statements” (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995). Such statements or information are identified with words such as “anticipate”, “believe”, “expect”, “plan”, “intend”, “potential”, “estimate”, “propose”, “project”, “outlook”, “foresee” or similar words suggesting future outcomes or statements regarding any potential outcome. Such statements include, without limitation, the Corporation’s expectations with respect to consummation of the Offering, the Corporation’s ability to complete the Offering on the announced terms, the Corporation’s products, the scalability of the POET Optical Interposer and the success of the Corporation’s products, the Corporation’s ability satisfy all closing conditions and close the Offering within the announced timeline, the investor acquiring all of the Units under the Offering on the terms announced, the Corporation’s use of proceeds for the Offering, the Corporation’s ability to complete the Malaysia expansion, the Corporation’s ability to obtain the final approval of the Exchange, the Corporation being well-capitalized upon the closing of the Offering and the Corporation being able to advance its business objectives. Such forward-looking information or statements are based on a number of risks, uncertainties and assumptions which may cause actual results or other expectations to differ materially from those anticipated and which may prove to be incorrect. Assumptions have been made regarding, among other things, management’s expectations regarding the size of the market for its products, the capability of its operations to produce products on time and at the expected costs, the performance and availability of certain components, and the success of its customers in achieving market penetration for their products. Actual results could differ materially due to a number of factors, including, without limitation, the attractiveness of the Corporation’s product offerings, performance of its technology, the performance of key components, and ability of its customers to sell their products into the market. For further information concerning these and other risks and uncertainties, refer to the Corporation’s filings on SEDAR+ at www.sedarplus.ca and on the website of the U.S. Securities and Exchange Commission at www.sec.gov. Although the Corporation believes that the expectations reflected in the forward-looking information or statements are reasonable, prospective investors in the Corporation’s securities should not place undue reliance on forward-looking statements because the Corporation can provide no assurance that such expectations will prove to be correct. Forward-looking information and statements contained in this news release are as of the date of this news release and the Corporation assumes no obligation to update or revise this forward-looking information and statements except as required by applicable securities laws.

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

    120 Eglinton Avenue, East, Suite 1107, Toronto, ON, M4P 1E2- Tel: 416-368-9411 – Fax: 416-322-5075

    The MIL Network –

  • MIL-OSI: POET Technologies Announces US$25 Million Offering

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, July 07, 2025 (GLOBE NEWSWIRE) — POET Technologies Inc. (“POET” or the “Corporation“) (TSXV: PTK; NASDAQ: POET), a leader in the design and implementation of highly-integrated optical engines and light sources for artificial intelligence networks today announces its intention to complete a non-brokered public offering of 5,000,000 units of the Corporation (the “Units“) at a price of US$5.00 per Unit (the “Issue Price“) for aggregate gross proceeds to the Corporation of US$25 million (the “Offering“). Each Unit will be comprised of one common share of the Corporation (each, a “Common Share“) and one common share purchase warrant of the Corporation (each, a “Warrant“), with each Warrant being exercisable to acquire one Common Share at a price of C$8.16 for a period of five years from the date of issuance.

    The Issue Price represents a discount of approximately 12.0% from the closing price of the Common Shares on the TSX Venture Exchange on Friday, July 4, 2025. The Corporation anticipates using the net proceeds of the Offering for working capital and general corporate purposes.

    The Offering will be made by way of a prospectus supplement (the “Prospectus Supplement“) to the short form base shelf prospectus of the Corporation dated September 6, 2024, which Prospectus Supplement will be prepared and filed by the Corporation prior to the closing of the Offering with the securities regulatory authorities in each of the provinces and territories of Canada, as well as with the U.S. Securities and Exchange Commission as part of the Corporation’s U.S. registration statement on Form F-10 (“Form F-10“) (Registration No. 333-280553) under the U.S.-Canada Multijurisdictional Disclosure System, with such additions thereto and deletions therefrom as may be permitted or required by Form F-10. The Offering is expected to be fully subscribed by a single institutional investor in Canada that qualifies as an “accredited investor” under National Instrument 45-106 – Prospectus Exemptions of the Canadian Securities Administrators.

    The consummation of the Offering remains subject to the receipt of all regulatory approvals, including the approval of the TSX Venture Exchange (the “Exchange“), and the satisfaction of other customary closing conditions. No commission or finder’s fee will be paid in connection with the Offering.

    “We are very fortunate to have had strong interest from institutional, strategic and public market investors over the past 15 months, due largely to a compelling value proposition that combines key technical and commercial achievements with a vast market opportunity, rewarding innovative hardware solutions in Artificial Intelligence networks and systems,” said Thomas Mika, Executive Vice President and Chief Financial Officer of POET. “We have raised over US$100 million in equity capital at increasingly higher prices over the past year and have thereby achieved all of our near-term financing goals for the Corporation.”

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

    About POET Technologies Inc.

    POET is a design and development company offering high-speed optical engines, light source products and custom optical modules to the artificial intelligence systems market and to hyperscale data centers.  POET’s photonic integration solutions are based on the POET Optical Interposer™, a novel, patented platform that allows the seamless integration of electronic and photonic devices into a single chip using advanced wafer-level semiconductor manufacturing techniques. POET’s Optical Interposer-based products are lower cost, consume less power than comparable products, are smaller in size and are readily scalable to high production volumes. In addition to providing high-speed (800G, 1.6T and above) optical engines and optical modules for AI clusters and hyperscale data centers, POET has designed and produced novel light source products for chip-to-chip data communication within and between AI servers, the next frontier for solving bandwidth and latency problems in AI systems.  POET’s Optical Interposer platform also solves device integration challenges across a broad range of communication, computing and sensing applications.  POET is headquartered in Toronto, Canada, with operations in Singapore, Penang, Malaysia and Shenzhen, China.  More information about POET is available on our website at www.poet-technologies.com

    Cautionary Note Regarding Forward-Looking Information

    This news release contains “forward-looking information” (within the meaning of applicable Canadian securities laws) and “forward-looking statements” (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995). Such statements or information are identified with words such as “anticipate”, “believe”, “expect”, “plan”, “intend”, “potential”, “estimate”, “propose”, “project”, “outlook”, “foresee” or similar words suggesting future outcomes or statements regarding any potential outcome. Such statements include, without limitation, the Corporation’s expectations with respect to consummation of the Offering, the Corporation’s ability to complete the Offering on the announced terms, the Corporation’s products, the scalability of the POET Optical Interposer and the success of the Corporation’s products, the Corporation’s ability satisfy all closing conditions and close the Offering within the announced timeline, the investor acquiring all of the Units under the Offering on the terms announced, the Corporation’s use of proceeds for the Offering, the Corporation’s ability to complete the Malaysia expansion, the Corporation’s ability to obtain the final approval of the Exchange, the Corporation being well-capitalized upon the closing of the Offering and the Corporation being able to advance its business objectives. Such forward-looking information or statements are based on a number of risks, uncertainties and assumptions which may cause actual results or other expectations to differ materially from those anticipated and which may prove to be incorrect. Assumptions have been made regarding, among other things, management’s expectations regarding the size of the market for its products, the capability of its operations to produce products on time and at the expected costs, the performance and availability of certain components, and the success of its customers in achieving market penetration for their products. Actual results could differ materially due to a number of factors, including, without limitation, the attractiveness of the Corporation’s product offerings, performance of its technology, the performance of key components, and ability of its customers to sell their products into the market. For further information concerning these and other risks and uncertainties, refer to the Corporation’s filings on SEDAR+ at www.sedarplus.ca and on the website of the U.S. Securities and Exchange Commission at www.sec.gov. Although the Corporation believes that the expectations reflected in the forward-looking information or statements are reasonable, prospective investors in the Corporation’s securities should not place undue reliance on forward-looking statements because the Corporation can provide no assurance that such expectations will prove to be correct. Forward-looking information and statements contained in this news release are as of the date of this news release and the Corporation assumes no obligation to update or revise this forward-looking information and statements except as required by applicable securities laws.

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

    120 Eglinton Avenue, East, Suite 1107, Toronto, ON, M4P 1E2- Tel: 416-368-9411 – Fax: 416-322-5075

    The MIL Network –

  • MIL-OSI: Novel Digital Test Provides Revolutionary Tool to Assess Brain Chemistry

    Source: GlobeNewswire (MIL-OSI)

    SAN FRANCISCO, July 07, 2025 (GLOBE NEWSWIRE) — For the first time, a study shows a digital assessment can provide a scientific measure of acetylcholine – a key brain chemical whose decline signals the progression of cognitive impairment and Alzheimer’s disease. The assessment (here) can be self-administered and completed in about three minutes on internet-connected devices — with big implications for cognitive aging and dementia. The assessment was developed by Posit Science, the maker of BrainHQ brain training exercises and assessments, and examined as part of an NIH-funded study in collaboration with researchers at McGill University.

    “Currently, it’s impossible for doctors to monitor this brain chemical despite its importance because it requires expensive imaging equipment and special expertise available at few research centers,” said Dr. Henry Mahncke, CEO of Posit Science. “This breakthrough shows a new path for routine monitoring of brain health by doctors and individuals.”

    The brain’s neuromodulatory system produces brain chemicals that impact mood, learning, attention, responsiveness, and memory. Brain scientists have known for decades that the system (and its subsystems that produce various brain chemicals) operate more sluggishly (downregulate) with aging and various health conditions.

    The assessment focuses on the cholinergic system — a subsystem that produces the brain chemical acetylcholine — sometimes called the “pay attention” chemical, because it is produced when you pay attention. The production of acetylcholine is known to down regulate with normal aging, and even more severely with pre-dementia and with Alzheimer’s disease and related dementias (ADRD).

    Cholinergic function is recognized as a key biomarker of overall brain health, regulates the ability of the brain to change (“plasticity”), and is associated with stronger cognitive performance (in sensory processing, attention, learning, memory, and executive function). Poor cholinergic function is linked to the production of plaque and tangles associated with ADRD, as well deficits in other conditions.

    Currently there is no easily accessible way to measure cholinergic function. No standardized blood test to directly measure it exists. Positron Emission Tomography (PET) brain imaging techniques can be used; however, this method is costly, requires specialized expertise, and exposes participants to radiation, limiting its use in clinical practice.

    “We developed a digital cognitive test to be a sensitive measure of brain health. To validate the test, we approached the researchers at The Neuro at McGill University, because it is one of a small number of places on the planet with the imaging technology to measure acetylcholine directly,” said Dr. Henry Mahncke. “In this study, they measured acetylcholine alongside cognitive performance using our assessment.”

    The imaging study enrolled 92 healthy older adults (average age 72). Each was measured using: a BrainHQ assessment (Double Decision); two other validated neuropsychological assessments; and a PET scan using tracer to evaluate cholinergic neurotransmission.

    The study showed better scores on the Double Decision assessment correlated with higher cholinergic function, indicating that the assessment could estimate cholinergic function without the complexity and risk of doing a PET scan. These results align with prior studies showing a significant relationship between cholinergic function and cognitive performance as measured by clinician-administered tools.

    The assessment was brief, taking an average of 3 minutes to complete, and demonstrated good usability with reasonable descriptive and psychometric properties. It was sensitive to age within the narrow band measured of 65-83 years and was not influenced by demographic factors such as years of education or gender.

    The researchers conclude: “The results support the adoption of this scalable form of biomarker-informed cognitive assessment available to individuals with an internet-connected device.”

    “These researchers also are looking at whether our brain exercises can upregulate acetylcholine, which would have a tremendous impact on cognitive aging and ADRD research,” Dr. Mahncke added. “We look forward to learning more.

    BrainHQ exercises have shown benefits in more than 300 studies. Such benefits include gains in cognition (attention, speed, memory, decision-making), in quality of life (depressive symptoms, confidence and control, health-related quality of life) and in real-world activities (health outcomes, balance, driving, workplace activities). BrainHQ is used by leading health and Medicare Advantage plans, by leading medical centers, clinics, and communities, and by elite athletes, the military, and other organizations focused on peak performance. Consumers can try a BrainHQ exercise for free daily at https://www.brainhq.com.

    This research was supported by the National Institute on Aging of the National Institutes of Health under Award Numbers R44AG039965 and 3R44AG039965-06S1. This content is solely the responsibility of the authors and does not necessarily represent the official views of the National Institutes of Health

    The MIL Network –

  • MIL-OSI: CORRECTION: Press Release Announcing Purchased About US$50 Million BNB

    Source: GlobeNewswire (MIL-OSI)

    HONG KONG, July 07, 2025 (GLOBE NEWSWIRE) — Nano Labs Ltd (Nasdaq: NA) (“we,” the “Company” or “Nano Labs”), a leading Web 3.0 infrastructure and product solution provider in China, today announced a correction to the first paragraph of its press release entitled “Nano Labs Has Purchased About US$50 Million BNB, Expands Digital Asset Reserves to around US$160 Million” which was issued on July 3, 2025 (the “Original Press Release”).

    The correction is to the Original Press Release’s first paragraph with the original version reading:

    “HONG KONG, July 03, 2025 (GLOBE NEWSWIRE) — Nano Labs Ltd (Nasdaq: NA) (“we,” the “Company” or “Nano Labs”), a leading Web 3.0 infrastructure and product solution provider in China, today announced the purchase of 74,315 Binance Coin (BNB) tokens through the OTC (Over-The-Counter) format at an average price of approximately US$672.45, with a total transaction value of about US$50 million. Following this transaction, the Company’s cumulative reserve of mainstream digital currencies, including Bitcoin and BNB, has around US$160 million, marking a successful initial step in Nano Labs’ BNB strategic plan and underscoring its commitment to increasing BNB holdings over time.”

    The complete, corrected release follows:

    “HONG KONG, July 03, 2025 (GLOBE NEWSWIRE) — Nano Labs Ltd (Nasdaq: NA) (“we,” the “Company” or “Nano Labs”), a leading Web 3.0 infrastructure and product solution provider in China, today announced the purchase of 74,315 BNB tokens through the OTC (Over-The-Counter) format at an average price of approximately US$672.45, with a total transaction value of about US$50 million. Following this transaction, the Company’s cumulative reserve of mainstream digital currencies, including Bitcoin and BNB, has around US$160 million, marking a successful initial step in Nano Labs’ BNB strategic plan and underscoring its commitment to increasing BNB holdings over time.”

    The Company committed to thoroughly evaluating the security and long-term value of BNB, aiming to acquire up to US$1 billion worth of BNB through convertible notes and private placements in the initial phase. Over the long run, Nano Labs intends to hold 5% to 10% of BNB’s total circulating supply.

    About Nano Labs Ltd

    Nano Labs Ltd is a leading Web 3.0 infrastructure and product solution provider in China. Nano Labs is committed to the development of high throughput computing (“HTC”) chips and high performance computing (“HPC”) chips. Nano Labs has built a comprehensive flow processing unit (“FPU”) architecture which offers solution that integrates the features of both HTC and HPC. In addition, it has established Bitcoin value investment and adopted Bitcoin as primary reserve asset. Nano Labs has established an integrated solution platform covering three main business verticals, including HTC solutions and HPC solutions. The HTC solutions feature its proprietary Cuckoo series chips, which have become alternative Application-Specific Integrated Circuit (“ASIC”) solutions for traditional GPUs. Nano Lab’s Cuckoo series are one of the first near-memory HTC chips available in the market*. For more information, please visit the Company’s website at: ir.nano.cn.

    *        According to an industry report prepared by Frost & Sullivan.

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, the Company’s plan to appeal the Staff’s determination, which can be identified by terminology such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. Such statements are based upon management’s current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control, which may cause the Company’s actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.

    For investor inquiries, please contact:

    Nano Labs Ltd
    ir@nano.cn

    Ascent Investor Relations LLC
    Tina Xiao
    Phone: +1-646-932-7242
    Email: investors@ascent-ir.com

    The MIL Network –

  • MIL-OSI: From Investment to Real Estate: U.S. Accepts Bitcoin for Home Purchases, and LET Mining Helps Asset Growth

    Source: GlobeNewswire (MIL-OSI)

    New York City, NY, July 07, 2025 (GLOBE NEWSWIRE) — As new federal guidelines enable cryptocurrency to qualify as a mortgage asset, U.S. homeowners can now leverage Bitcoin directly in home purchases—with LET Mining poised to support this evolution by helping investors grow and diversify their holdings through efficient, eco‑friendly cloud mining.

    Last week, Federal Housing Finance Agency Director William Pulte directed Fannie Mae and Freddie Mac to consider cryptocurrency holdings on U.S.-regulated centralized exchanges as qualifying assets in mortgage assessments, without requiring conversion to cash. This landmark shift could unlock homeownership opportunities for Bitcoin holders who previously faced forced liquidation or margin loans.

    To capitalize on this growing trend, LET Mining, a crypto‑mining and financial services platform founded in 2021, offers a secure, sustainable path to increase Bitcoin assets through its green‑powered intelligent cloud mining infrastructure. By enabling investors to compound Bitcoin holdings over time, LET Mining empowers users to build crypto reserves that now directly translate into home-buying power.

    How to create more value for BTC through LET Mining
    1. Log in to the website https://letmining.com/ and register an account in one minute. After successful registration, you can get a $12 reward

    LET Mining provides users with cloud computing power contracts with flexible investment strategies. Users have the following options (you can participate with a minimum of $100 worth of BTC)

    ●Experience Contract: Investment amount: $100, contract period: 2 days, daily income of $4, expiration income: $100 + $8
    ●BTC Classic Hash Power: Investment amount: $500, contract period: 5 days, daily income of $6, expiration income: $500 + $30
    ●DOGE Classic Hash Power: Investment amount: $3,500, contract period: 24 days, daily income of $50.4, expiration income: $3,500 + $1,209.6
    ●BTC Advanced Hash Power: Investment amount: $5,000, contract period: 30 days, daily income of $76, expiration income: $5,000 + $2,280
    ●BTC Advanced Hash Power: Investment amount: $10,000, contract period: 45 days, daily income of $173, expiration income: $10,000 + $7,785

    (Click here to view more high-yield contract details)

    3. Automatically obtain income every day and withdraw funds at any time

    “With Bitcoin now qualifying as a mortgage asset, investors need reliable, performance‑driven ways to grow their crypto holdings,” said Lillian Austen, Communications Director at LET Mining. “Our smart, renewable‑energy mining services help users scale their portfolios—and access the American dream through real estate.”

    LET Mining’s smart cloud platform combines smart contracts, AI‑driven currency allocation, and predictive maintenance to ensure maximum mining efficiency. Its data centers rely on renewable energy and industrial-scale economies, reducing costs and carbon footprint while maximizing real output.

    As crypto-backed mortgages and cash‑deal home purchases gain traction, LET Mining also streamlines treasury growth for users. Instead of selling Bitcoin at the time of purchase, investors can continue accumulating via mining and rely on crypto mortgages or cash offers backed by their growing reserves. This reduces tax friction, volatility concerns, and liquidity constraints that previously hindered crypto holders from entering the housing market.

    Industry watchers anticipate only 1% of U.S. home purchases have involved crypto proceeds so far—but that figure is expected to rise sharply as institutional frameworks adapt, and platforms like LET Mining make growth accessible and sustainable.

    About LET Mining
    LET Mining, founded in 2021, is a leading cloud-mining and blockchain financial services provider. The London‑based platform specializes in green‑energy-powered, AI‑enabled mining solutions, enabling everyday investors to grow digital assets through efficient, secure, and compliant means. To learn more, visit https://letmining.com/.

    Media Contact:

    Lillian Austen
    Communications Director, LET Mining
    info@letmining.com

    Attachment

    The MIL Network –

  • MIL-OSI: From Investment to Real Estate: U.S. Accepts Bitcoin for Home Purchases, and LET Mining Helps Asset Growth

    Source: GlobeNewswire (MIL-OSI)

    New York City, NY, July 07, 2025 (GLOBE NEWSWIRE) — As new federal guidelines enable cryptocurrency to qualify as a mortgage asset, U.S. homeowners can now leverage Bitcoin directly in home purchases—with LET Mining poised to support this evolution by helping investors grow and diversify their holdings through efficient, eco‑friendly cloud mining.

    Last week, Federal Housing Finance Agency Director William Pulte directed Fannie Mae and Freddie Mac to consider cryptocurrency holdings on U.S.-regulated centralized exchanges as qualifying assets in mortgage assessments, without requiring conversion to cash. This landmark shift could unlock homeownership opportunities for Bitcoin holders who previously faced forced liquidation or margin loans.

    To capitalize on this growing trend, LET Mining, a crypto‑mining and financial services platform founded in 2021, offers a secure, sustainable path to increase Bitcoin assets through its green‑powered intelligent cloud mining infrastructure. By enabling investors to compound Bitcoin holdings over time, LET Mining empowers users to build crypto reserves that now directly translate into home-buying power.

    How to create more value for BTC through LET Mining
    1. Log in to the website https://letmining.com/ and register an account in one minute. After successful registration, you can get a $12 reward

    LET Mining provides users with cloud computing power contracts with flexible investment strategies. Users have the following options (you can participate with a minimum of $100 worth of BTC)

    ●Experience Contract: Investment amount: $100, contract period: 2 days, daily income of $4, expiration income: $100 + $8
    ●BTC Classic Hash Power: Investment amount: $500, contract period: 5 days, daily income of $6, expiration income: $500 + $30
    ●DOGE Classic Hash Power: Investment amount: $3,500, contract period: 24 days, daily income of $50.4, expiration income: $3,500 + $1,209.6
    ●BTC Advanced Hash Power: Investment amount: $5,000, contract period: 30 days, daily income of $76, expiration income: $5,000 + $2,280
    ●BTC Advanced Hash Power: Investment amount: $10,000, contract period: 45 days, daily income of $173, expiration income: $10,000 + $7,785

    (Click here to view more high-yield contract details)

    3. Automatically obtain income every day and withdraw funds at any time

    “With Bitcoin now qualifying as a mortgage asset, investors need reliable, performance‑driven ways to grow their crypto holdings,” said Lillian Austen, Communications Director at LET Mining. “Our smart, renewable‑energy mining services help users scale their portfolios—and access the American dream through real estate.”

    LET Mining’s smart cloud platform combines smart contracts, AI‑driven currency allocation, and predictive maintenance to ensure maximum mining efficiency. Its data centers rely on renewable energy and industrial-scale economies, reducing costs and carbon footprint while maximizing real output.

    As crypto-backed mortgages and cash‑deal home purchases gain traction, LET Mining also streamlines treasury growth for users. Instead of selling Bitcoin at the time of purchase, investors can continue accumulating via mining and rely on crypto mortgages or cash offers backed by their growing reserves. This reduces tax friction, volatility concerns, and liquidity constraints that previously hindered crypto holders from entering the housing market.

    Industry watchers anticipate only 1% of U.S. home purchases have involved crypto proceeds so far—but that figure is expected to rise sharply as institutional frameworks adapt, and platforms like LET Mining make growth accessible and sustainable.

    About LET Mining
    LET Mining, founded in 2021, is a leading cloud-mining and blockchain financial services provider. The London‑based platform specializes in green‑energy-powered, AI‑enabled mining solutions, enabling everyday investors to grow digital assets through efficient, secure, and compliant means. To learn more, visit https://letmining.com/.

    Media Contact:

    Lillian Austen
    Communications Director, LET Mining
    info@letmining.com

    Attachment

    The MIL Network –

  • MIL-OSI: NowVertical Announces 2025 Shareholder Meeting Results and Equity Grants

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, July 07, 2025 (GLOBE NEWSWIRE) — NowVertical Group Inc. (TSXV: NOW) (“NOW” or the “Company”), a leading data and AI solutions provider, is pleased to announce the voting results from its Annual General and Special Meeting of Shareholders held on June 27, 2025 (the “Meeting”).

    At the Meeting, all matters of business set out in the Company’s management information circular dated May 16, 2025 (the “Circular”) were approved. Each of the five (5) director nominees proposed by management of the Company were elected to serve as directors of the Company until the close of the next annual meeting of shareholders or until their successor is elected or appointed. Detailed results of the votes are set out below:

      Votes For Votes Withheld/Abstained
    Nominee Number (#) Percent (%) Number (#) Percent (%)
    Sandeep Mendiratta 31,240,059 99.90% 30,000 0.10%
    David Charron 31,255,059 99.95% 15,000 0.05%
    David Doritty 31,203,059 99.79% 67,000 0.21%
    Elaine Kunda 31,003,601 99.15% 266,458 0.85%
    Chris Ford 31,255,059 99.95% 15,000 0.05%

    NOW’s shareholders also voted in favour of: (i) re-appointing Ernst & Young LLP as the Company’s auditors for the ensuing year and authorized the board of directors of the Company to fix their remuneration; (ii) the approval of the 10% rolling omnibus equity incentive plan of the Company (the “Plan”); and (iii) the issuance of 477,459 Class A subordinate voting shares to Andre Garber in settlement of a portion of his wages for the period from January 1, 2021 to December 31, 2021 (the “Debt Settlement Transaction”). The Class A subordinate voting shares issued to Andre Garber will be subject to a statutory hold period of four (4) months and one (1) day from the date of issuance.

    The Debt Settlement Transaction with the Company is considered a “related party transaction” for purposes of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Debt Settlement Transaction will be completed in reliance on exemptions available under MI 61-101 from the formal valuation of MI 61-101. The Company is relying on the exemption from the valuation requirement pursuant to subsection 5.5(a) of MI 61-101 for the insider participation, as the Class A subordinate voting shares do not represent more than 25% of the Company’s market capitalization, as determined in accordance with MI 61-101.

    For further information regarding the Plan and the Debt Settlement Transaction to Mr. Garber, please see the Circular which is available on SEDAR+ at www.sedarplus.com.

    Equity Award Grants

    In addition, the Company further announces the granting of 109,400 incentive stock options (“Options”) and 269,531 restricted share units (“RSUs”) to the non-executive members of the Company’s board of directors, and 1,177,422 performance share units of the Company (“PSUs” and together with the RSUs and the Options, the “Equity Grants”) to certain members of the Company’s management team.

    Each Option will entitle the holder thereof to acquire one (1) Class A subordinate voting share of the Company at an exercise price of CAD$0.64 per share for a period of five (5) years, subject to the terms of the Plan. The Options will vest on the one-year anniversary of the date of grant.

    The RSUs will be issued pursuant to the Plan and will vest on the one-year anniversary of the date of issuance. Each vested RSU will entitle the holder thereof to receive one (1) Class A subordinate voting share of the Company or a cash amount equal to the equivalent of one (1) share.

    The PSUs will be issued pursuant to the Plan and, subject to the achievement of certain performance milestones, will vest on the one-year anniversary of the date of issuance. Each vested PSU will entitle the holder thereof to receive one (1) Class A subordinate voting share of the Company or a cash amount equal to the equivalent of one (1) share.

    The Equity Grants were made as part of NOW’s annual compensation process and are intended to appropriately reward past and ongoing contributions and to incentivize contributions to NOW’s success in the future.

    About NowVertical Group Inc.

    NowVertical is a global data and analytics company which helps clients transform data into tangible business value with AI, fast. Offering a comprehensive suite of solutions and services, the Company enables clients to quickly harness the full potential of their data, driving measurable outcomes and accelerating potential return on investment. Enterprises optimize decision-making, improve operational efficiency, and unlock long-term value from their data using the Company’s AI-Infused first party and third-party technologies. NowVertical is growing organically and through strategic acquisitions.  

    For further details about NowVertical, please visit www.nowvertical.com. 

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

    For further information, please contact:

    Andre Garber
    Chief Development Officer
    IR@nowvertical.com

    Investor Relations: Bristol Capital Ltd.
    Stefan Eftychiou
    stefan@bristolir.com
    +1(905) 326-1888 x60

    This news release contains forward-looking information and forward-looking statements within the meaning of applicable Canadian securities laws (together “forward–looking statements”). Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. Investors are cautioned that forward-looking statements are not based on historical facts but instead reflect the Company’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Forward-looking statements contained in this news release include, without limitation, statements with respect to the vesting of the securities issued under the Equity Grants, the issuance of Class A subordinate voting shares in the capital of the Company, and the achievement of the vesting criteria for the PSUs. Forward-looking statements generally can be identified by the use of forward-looking words such as “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause future results, performance, or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by the forward-looking statements and the forward-looking statements are not guarantees of future performance. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed thereon, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking statements are those risk factors identified in documents filed by the Company under its profile at www.sedarplus.com, including the Company’s managements’ discussion and analysis for the year ended December 31, 2024. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended and such changes could be material. All of the forward-looking statements contained in this press release are qualified by the foregoing cautionary statements, and there can be no guarantee that the results or developments that we anticipate will be realized or, even if substantially realized, that they will have the expected consequences or effects on our business, financial condition or results of operation. Unless otherwise noted or the context otherwise indicates, the forward -looking statements contained herein are provided as of the date hereof, and the Company does not intend, and does not assume any obligation, to update the forward-looking statements except as otherwise required by applicable law. Investors are cautioned that, trading in the securities of the Company should be considered highly speculative.

    The MIL Network –

  • MIL-OSI: NowVertical Announces 2025 Shareholder Meeting Results and Equity Grants

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, July 07, 2025 (GLOBE NEWSWIRE) — NowVertical Group Inc. (TSXV: NOW) (“NOW” or the “Company”), a leading data and AI solutions provider, is pleased to announce the voting results from its Annual General and Special Meeting of Shareholders held on June 27, 2025 (the “Meeting”).

    At the Meeting, all matters of business set out in the Company’s management information circular dated May 16, 2025 (the “Circular”) were approved. Each of the five (5) director nominees proposed by management of the Company were elected to serve as directors of the Company until the close of the next annual meeting of shareholders or until their successor is elected or appointed. Detailed results of the votes are set out below:

      Votes For Votes Withheld/Abstained
    Nominee Number (#) Percent (%) Number (#) Percent (%)
    Sandeep Mendiratta 31,240,059 99.90% 30,000 0.10%
    David Charron 31,255,059 99.95% 15,000 0.05%
    David Doritty 31,203,059 99.79% 67,000 0.21%
    Elaine Kunda 31,003,601 99.15% 266,458 0.85%
    Chris Ford 31,255,059 99.95% 15,000 0.05%

    NOW’s shareholders also voted in favour of: (i) re-appointing Ernst & Young LLP as the Company’s auditors for the ensuing year and authorized the board of directors of the Company to fix their remuneration; (ii) the approval of the 10% rolling omnibus equity incentive plan of the Company (the “Plan”); and (iii) the issuance of 477,459 Class A subordinate voting shares to Andre Garber in settlement of a portion of his wages for the period from January 1, 2021 to December 31, 2021 (the “Debt Settlement Transaction”). The Class A subordinate voting shares issued to Andre Garber will be subject to a statutory hold period of four (4) months and one (1) day from the date of issuance.

    The Debt Settlement Transaction with the Company is considered a “related party transaction” for purposes of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Debt Settlement Transaction will be completed in reliance on exemptions available under MI 61-101 from the formal valuation of MI 61-101. The Company is relying on the exemption from the valuation requirement pursuant to subsection 5.5(a) of MI 61-101 for the insider participation, as the Class A subordinate voting shares do not represent more than 25% of the Company’s market capitalization, as determined in accordance with MI 61-101.

    For further information regarding the Plan and the Debt Settlement Transaction to Mr. Garber, please see the Circular which is available on SEDAR+ at www.sedarplus.com.

    Equity Award Grants

    In addition, the Company further announces the granting of 109,400 incentive stock options (“Options”) and 269,531 restricted share units (“RSUs”) to the non-executive members of the Company’s board of directors, and 1,177,422 performance share units of the Company (“PSUs” and together with the RSUs and the Options, the “Equity Grants”) to certain members of the Company’s management team.

    Each Option will entitle the holder thereof to acquire one (1) Class A subordinate voting share of the Company at an exercise price of CAD$0.64 per share for a period of five (5) years, subject to the terms of the Plan. The Options will vest on the one-year anniversary of the date of grant.

    The RSUs will be issued pursuant to the Plan and will vest on the one-year anniversary of the date of issuance. Each vested RSU will entitle the holder thereof to receive one (1) Class A subordinate voting share of the Company or a cash amount equal to the equivalent of one (1) share.

    The PSUs will be issued pursuant to the Plan and, subject to the achievement of certain performance milestones, will vest on the one-year anniversary of the date of issuance. Each vested PSU will entitle the holder thereof to receive one (1) Class A subordinate voting share of the Company or a cash amount equal to the equivalent of one (1) share.

    The Equity Grants were made as part of NOW’s annual compensation process and are intended to appropriately reward past and ongoing contributions and to incentivize contributions to NOW’s success in the future.

    About NowVertical Group Inc.

    NowVertical is a global data and analytics company which helps clients transform data into tangible business value with AI, fast. Offering a comprehensive suite of solutions and services, the Company enables clients to quickly harness the full potential of their data, driving measurable outcomes and accelerating potential return on investment. Enterprises optimize decision-making, improve operational efficiency, and unlock long-term value from their data using the Company’s AI-Infused first party and third-party technologies. NowVertical is growing organically and through strategic acquisitions.  

    For further details about NowVertical, please visit www.nowvertical.com. 

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

    For further information, please contact:

    Andre Garber
    Chief Development Officer
    IR@nowvertical.com

    Investor Relations: Bristol Capital Ltd.
    Stefan Eftychiou
    stefan@bristolir.com
    +1(905) 326-1888 x60

    This news release contains forward-looking information and forward-looking statements within the meaning of applicable Canadian securities laws (together “forward–looking statements”). Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. Investors are cautioned that forward-looking statements are not based on historical facts but instead reflect the Company’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Forward-looking statements contained in this news release include, without limitation, statements with respect to the vesting of the securities issued under the Equity Grants, the issuance of Class A subordinate voting shares in the capital of the Company, and the achievement of the vesting criteria for the PSUs. Forward-looking statements generally can be identified by the use of forward-looking words such as “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause future results, performance, or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by the forward-looking statements and the forward-looking statements are not guarantees of future performance. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed thereon, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking statements are those risk factors identified in documents filed by the Company under its profile at www.sedarplus.com, including the Company’s managements’ discussion and analysis for the year ended December 31, 2024. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended and such changes could be material. All of the forward-looking statements contained in this press release are qualified by the foregoing cautionary statements, and there can be no guarantee that the results or developments that we anticipate will be realized or, even if substantially realized, that they will have the expected consequences or effects on our business, financial condition or results of operation. Unless otherwise noted or the context otherwise indicates, the forward -looking statements contained herein are provided as of the date hereof, and the Company does not intend, and does not assume any obligation, to update the forward-looking statements except as otherwise required by applicable law. Investors are cautioned that, trading in the securities of the Company should be considered highly speculative.

    The MIL Network –

  • MIL-OSI: NowVertical Announces 2025 Shareholder Meeting Results and Equity Grants

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, July 07, 2025 (GLOBE NEWSWIRE) — NowVertical Group Inc. (TSXV: NOW) (“NOW” or the “Company”), a leading data and AI solutions provider, is pleased to announce the voting results from its Annual General and Special Meeting of Shareholders held on June 27, 2025 (the “Meeting”).

    At the Meeting, all matters of business set out in the Company’s management information circular dated May 16, 2025 (the “Circular”) were approved. Each of the five (5) director nominees proposed by management of the Company were elected to serve as directors of the Company until the close of the next annual meeting of shareholders or until their successor is elected or appointed. Detailed results of the votes are set out below:

      Votes For Votes Withheld/Abstained
    Nominee Number (#) Percent (%) Number (#) Percent (%)
    Sandeep Mendiratta 31,240,059 99.90% 30,000 0.10%
    David Charron 31,255,059 99.95% 15,000 0.05%
    David Doritty 31,203,059 99.79% 67,000 0.21%
    Elaine Kunda 31,003,601 99.15% 266,458 0.85%
    Chris Ford 31,255,059 99.95% 15,000 0.05%

    NOW’s shareholders also voted in favour of: (i) re-appointing Ernst & Young LLP as the Company’s auditors for the ensuing year and authorized the board of directors of the Company to fix their remuneration; (ii) the approval of the 10% rolling omnibus equity incentive plan of the Company (the “Plan”); and (iii) the issuance of 477,459 Class A subordinate voting shares to Andre Garber in settlement of a portion of his wages for the period from January 1, 2021 to December 31, 2021 (the “Debt Settlement Transaction”). The Class A subordinate voting shares issued to Andre Garber will be subject to a statutory hold period of four (4) months and one (1) day from the date of issuance.

    The Debt Settlement Transaction with the Company is considered a “related party transaction” for purposes of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Debt Settlement Transaction will be completed in reliance on exemptions available under MI 61-101 from the formal valuation of MI 61-101. The Company is relying on the exemption from the valuation requirement pursuant to subsection 5.5(a) of MI 61-101 for the insider participation, as the Class A subordinate voting shares do not represent more than 25% of the Company’s market capitalization, as determined in accordance with MI 61-101.

    For further information regarding the Plan and the Debt Settlement Transaction to Mr. Garber, please see the Circular which is available on SEDAR+ at www.sedarplus.com.

    Equity Award Grants

    In addition, the Company further announces the granting of 109,400 incentive stock options (“Options”) and 269,531 restricted share units (“RSUs”) to the non-executive members of the Company’s board of directors, and 1,177,422 performance share units of the Company (“PSUs” and together with the RSUs and the Options, the “Equity Grants”) to certain members of the Company’s management team.

    Each Option will entitle the holder thereof to acquire one (1) Class A subordinate voting share of the Company at an exercise price of CAD$0.64 per share for a period of five (5) years, subject to the terms of the Plan. The Options will vest on the one-year anniversary of the date of grant.

    The RSUs will be issued pursuant to the Plan and will vest on the one-year anniversary of the date of issuance. Each vested RSU will entitle the holder thereof to receive one (1) Class A subordinate voting share of the Company or a cash amount equal to the equivalent of one (1) share.

    The PSUs will be issued pursuant to the Plan and, subject to the achievement of certain performance milestones, will vest on the one-year anniversary of the date of issuance. Each vested PSU will entitle the holder thereof to receive one (1) Class A subordinate voting share of the Company or a cash amount equal to the equivalent of one (1) share.

    The Equity Grants were made as part of NOW’s annual compensation process and are intended to appropriately reward past and ongoing contributions and to incentivize contributions to NOW’s success in the future.

    About NowVertical Group Inc.

    NowVertical is a global data and analytics company which helps clients transform data into tangible business value with AI, fast. Offering a comprehensive suite of solutions and services, the Company enables clients to quickly harness the full potential of their data, driving measurable outcomes and accelerating potential return on investment. Enterprises optimize decision-making, improve operational efficiency, and unlock long-term value from their data using the Company’s AI-Infused first party and third-party technologies. NowVertical is growing organically and through strategic acquisitions.  

    For further details about NowVertical, please visit www.nowvertical.com. 

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

    For further information, please contact:

    Andre Garber
    Chief Development Officer
    IR@nowvertical.com

    Investor Relations: Bristol Capital Ltd.
    Stefan Eftychiou
    stefan@bristolir.com
    +1(905) 326-1888 x60

    This news release contains forward-looking information and forward-looking statements within the meaning of applicable Canadian securities laws (together “forward–looking statements”). Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. Investors are cautioned that forward-looking statements are not based on historical facts but instead reflect the Company’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Forward-looking statements contained in this news release include, without limitation, statements with respect to the vesting of the securities issued under the Equity Grants, the issuance of Class A subordinate voting shares in the capital of the Company, and the achievement of the vesting criteria for the PSUs. Forward-looking statements generally can be identified by the use of forward-looking words such as “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause future results, performance, or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by the forward-looking statements and the forward-looking statements are not guarantees of future performance. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed thereon, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking statements are those risk factors identified in documents filed by the Company under its profile at www.sedarplus.com, including the Company’s managements’ discussion and analysis for the year ended December 31, 2024. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended and such changes could be material. All of the forward-looking statements contained in this press release are qualified by the foregoing cautionary statements, and there can be no guarantee that the results or developments that we anticipate will be realized or, even if substantially realized, that they will have the expected consequences or effects on our business, financial condition or results of operation. Unless otherwise noted or the context otherwise indicates, the forward -looking statements contained herein are provided as of the date hereof, and the Company does not intend, and does not assume any obligation, to update the forward-looking statements except as otherwise required by applicable law. Investors are cautioned that, trading in the securities of the Company should be considered highly speculative.

    The MIL Network –

  • MIL-OSI: Apollo Names Brian Chu Head of Apollo Portfolio Performance Solutions

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, July 07, 2025 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced that Brian Chu has joined the firm as a Partner and Head of Apollo Portfolio Performance Solutions (APPS). In this role, Chu will lead APPS’ mission to deliver strategic and hands-on operational support across Apollo’s private equity portfolio. He will build on the team’s established value creation model, which combines generalist operating partners and deep functional expertise to unlock transformational growth opportunities for Apollo’s funds’ portfolio companies.

    Chu brings more than 20 years of experience in operational leadership and private equity to Apollo. He most recently served as Senior Managing Director and co-head of the portfolio operations group at Centerbridge Partners, where he led value creation efforts across a portfolio of approximately 30 companies. His career has been defined by close collaboration with management teams and boards to drive growth and implement organizational change. Prior to Centerbridge, he was an Operating Partner at Bain Capital and has held several senior roles in operations and technology.

    Aaron Miller, who led APPS since joining the firm in 2019, will transition to Chairman of APPS. In this role, he will continue to advise on strategic initiatives, work closely with select portfolio companies on high-priority value creation projects and support the continued evolution and expansion of the APPS platform.

    “Brian’s exceptional ability to build high-performing operations teams, combined with his disciplined approach to value creation, makes him the ideal leader to continue building upon the strong foundation that Aaron has established and developed,” said Antoine Munfakh, Partner and Head of Private Equity – North America, and Michele Raba, Partner and Head of Private Equity – Europe. “As our industry increasingly recognizes that outperformance will be driven by improving businesses rather than expanding multiples, the role of APPS has never been more crucial. Scaling our APPS platform has been a game changer for our private equity franchise, transforming the way we partner with outstanding management teams to create tangible value at each stage of the investment lifecycle.”

    “Apollo has built one of the most effective operating platforms in the industry, known for its deep alignment with management and relentless focus on business transformation,” said Brian Chu. “I’m honored to join this talented team and to carry forward the APPS mission—accelerating growth through investments in technology, talent and commercial excellence. I look forward to expanding our capabilities and helping portfolio companies realize their full potential.”

    Miller said, “I’m deeply proud of the culture of innovation, performance and collaboration we’ve built at APPS. Working alongside such a talented group of professionals—and seeing the tangible, lasting value we’ve helped create—has been one of the most fulfilling chapters of my career. I’m excited to support Brian and the team as they take APPS to even greater heights.”

    About Apollo Portfolio Performance Solutions (APPS)

    APPS supports Apollo funds’ portfolio companies throughout every stage of ownership by leveraging deep expertise across critical functional domains, including digital transformation, AI integration, procurement and supply chain optimization. With a team of 35 full-time professionals—comprising both functional specialists and generalist operators—APPS partners closely with company leadership to implement tailored value creation strategies. Through Value Creation Offices (VCOs), the team works with management to ensure rigorous execution and accountability, driving sustained performance improvements and long-term value.

    About Apollo

    Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of March 31, 2025, Apollo had approximately $785 billion of assets under management. To learn more, please visit www.apollo.com.

    Contacts

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

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

    The MIL Network –

  • MIL-OSI: Home Decor Brand Graham & Brown Boosts Operational Efficiency and Growth with BigCommerce

    Source: GlobeNewswire (MIL-OSI)

    AUSTIN, Texas and LONDON, July 07, 2025 (GLOBE NEWSWIRE) — BigCommerce (Nasdaq: BIGC), a leading provider of open, composable commerce solutions for B2C and B2B brands, retailers, manufacturers and distributors, today announced that Graham & Brown, a leading UK wallcoverings and home décor company, has achieved measurable improvements in customer experience, revenue growth, operational efficiency and digital maturity since launching its B2B ecommerce site on BigCommerce.

    In an industry traditionally driven by human touchpoints and manual processes, Graham & Brown recognised a fundamental shift in buyer expectations to increasingly demand the convenience and efficiency of digital self-service. Working with BigCommerce, Graham & Brown built a B2B ecommerce site to improve the buyer experience and its own business operations.

    Achieving revenue growth and market expansion

    This transformation moved quickly from concept to delivery. Within just 12 weeks, Graham & Brown launched a fully functioning B2B ecommerce site in January 2025. Adoption was rapid with 90% of key accounts having embraced the new digital channel, in the first few months, underlying the demand for a more efficient, customer-centric buying experience.

    Building on this early success, Graham & Brown rapidly expanded the platform beyond the UK, launching in Ireland and the broader European market by March. Designed from the outset with global scale in mind, the platform supports multi-currency transactions in GBP, USD, EUR, AUD, and NZD.

    Enhancing customer experience

    Central to Graham & Brown’s digital transformation was a focus on delivering a better customer experience. By engaging real customers in the build process, Graham & Brown gained direct insights into day-to-day user needs, enabling the development of features specifically tailored to the B2B buyer. BigCommerce allowed Graham & Brown to streamline the buyer experience, including a Quick Order tool for frequent, high-volume purchases, real-time visibility into credit balances and industry-specific functionality such as specifying batch numbers for wallpaper orders to ensure exact colour consistency.

    Another standout innovation was the launch of bespoke print-to-order wallpaper mural creation tools for B2B customers. This innovative feature allows trade clients to input custom dimensions and crop and zoom onto the design, to create a bespoke feature wall mural.

    “BigCommerce’s platform has been incredibly successful at delivering and achieving our digital goals from the onset,” said Mike Berry, head of ecommerce at Graham & Brown. “Not only has the platform elevated our customers’ journey by creating a more tailored and personalised experience, but it has also significantly eased the burden on our sales team.”

    Realising operational efficiencies

    The benefits of the new platform have been felt strongly inside the organisation. By shifting routine transactions and inquiries online, Graham & Brown has achieved significant operational efficiencies. The customer service team experienced a reduction in inbound calls, as common questions about stock, pricing and order status were answered by the website’s self-service tools. Likewise, the sales team has seen the typical Monday morning backlog of orders and emails decline.

    “We’re thrilled that Graham & Brown’s B2B website is delivering a tailored, elevated digital experience that meets the unique needs of the home furnishings industry,” said Lance Owide, general manager of B2B at BigCommerce. “Graham & Brown had a vision to use ecommerce to drive operational efficiency, and to power the company’s global growth ambitions, and the results so far have achieved this while staying true to the core values of the brand.”

    To learn more about BigCommerce B2B Edition, click here.

    About BigCommerce

    BigCommerce (Nasdaq: BIGC) is a leading open SaaS and composable ecommerce platform that empowers brands, retailers, manufacturers and distributors of all sizes to build, innovate and grow their businesses online. BigCommerce provides its customers sophisticated professional-grade functionality, customisation and performance with simplicity and ease-of-use. Tens of thousands of B2C and B2B companies across 150 countries and numerous industries rely on BigCommerce, including Coldwater Creek, Harvey Nichols, King Arthur Baking Co., MKM Building Supplies, United Aqua Group and Uplift Desk. For more information, please visit www.bigcommerce.com or follow us on X and LinkedIn.

    BigCommerce® is a registered trademark of BigCommerce Pty. Ltd. Third-party trademarks and service marks are the property of their respective owners.

    Media Contact:
    Brad Hem
    pr@bigcommerce.com 

    The MIL Network –

  • MIL-OSI: Home Decor Brand Graham & Brown Boosts Operational Efficiency and Growth with BigCommerce

    Source: GlobeNewswire (MIL-OSI)

    AUSTIN, Texas and LONDON, July 07, 2025 (GLOBE NEWSWIRE) — BigCommerce (Nasdaq: BIGC), a leading provider of open, composable commerce solutions for B2C and B2B brands, retailers, manufacturers and distributors, today announced that Graham & Brown, a leading UK wallcoverings and home décor company, has achieved measurable improvements in customer experience, revenue growth, operational efficiency and digital maturity since launching its B2B ecommerce site on BigCommerce.

    In an industry traditionally driven by human touchpoints and manual processes, Graham & Brown recognised a fundamental shift in buyer expectations to increasingly demand the convenience and efficiency of digital self-service. Working with BigCommerce, Graham & Brown built a B2B ecommerce site to improve the buyer experience and its own business operations.

    Achieving revenue growth and market expansion

    This transformation moved quickly from concept to delivery. Within just 12 weeks, Graham & Brown launched a fully functioning B2B ecommerce site in January 2025. Adoption was rapid with 90% of key accounts having embraced the new digital channel, in the first few months, underlying the demand for a more efficient, customer-centric buying experience.

    Building on this early success, Graham & Brown rapidly expanded the platform beyond the UK, launching in Ireland and the broader European market by March. Designed from the outset with global scale in mind, the platform supports multi-currency transactions in GBP, USD, EUR, AUD, and NZD.

    Enhancing customer experience

    Central to Graham & Brown’s digital transformation was a focus on delivering a better customer experience. By engaging real customers in the build process, Graham & Brown gained direct insights into day-to-day user needs, enabling the development of features specifically tailored to the B2B buyer. BigCommerce allowed Graham & Brown to streamline the buyer experience, including a Quick Order tool for frequent, high-volume purchases, real-time visibility into credit balances and industry-specific functionality such as specifying batch numbers for wallpaper orders to ensure exact colour consistency.

    Another standout innovation was the launch of bespoke print-to-order wallpaper mural creation tools for B2B customers. This innovative feature allows trade clients to input custom dimensions and crop and zoom onto the design, to create a bespoke feature wall mural.

    “BigCommerce’s platform has been incredibly successful at delivering and achieving our digital goals from the onset,” said Mike Berry, head of ecommerce at Graham & Brown. “Not only has the platform elevated our customers’ journey by creating a more tailored and personalised experience, but it has also significantly eased the burden on our sales team.”

    Realising operational efficiencies

    The benefits of the new platform have been felt strongly inside the organisation. By shifting routine transactions and inquiries online, Graham & Brown has achieved significant operational efficiencies. The customer service team experienced a reduction in inbound calls, as common questions about stock, pricing and order status were answered by the website’s self-service tools. Likewise, the sales team has seen the typical Monday morning backlog of orders and emails decline.

    “We’re thrilled that Graham & Brown’s B2B website is delivering a tailored, elevated digital experience that meets the unique needs of the home furnishings industry,” said Lance Owide, general manager of B2B at BigCommerce. “Graham & Brown had a vision to use ecommerce to drive operational efficiency, and to power the company’s global growth ambitions, and the results so far have achieved this while staying true to the core values of the brand.”

    To learn more about BigCommerce B2B Edition, click here.

    About BigCommerce

    BigCommerce (Nasdaq: BIGC) is a leading open SaaS and composable ecommerce platform that empowers brands, retailers, manufacturers and distributors of all sizes to build, innovate and grow their businesses online. BigCommerce provides its customers sophisticated professional-grade functionality, customisation and performance with simplicity and ease-of-use. Tens of thousands of B2C and B2B companies across 150 countries and numerous industries rely on BigCommerce, including Coldwater Creek, Harvey Nichols, King Arthur Baking Co., MKM Building Supplies, United Aqua Group and Uplift Desk. For more information, please visit www.bigcommerce.com or follow us on X and LinkedIn.

    BigCommerce® is a registered trademark of BigCommerce Pty. Ltd. Third-party trademarks and service marks are the property of their respective owners.

    Media Contact:
    Brad Hem
    pr@bigcommerce.com 

    The MIL Network –

  • MIL-OSI: Home Decor Brand Graham & Brown Boosts Operational Efficiency and Growth with BigCommerce

    Source: GlobeNewswire (MIL-OSI)

    AUSTIN, Texas and LONDON, July 07, 2025 (GLOBE NEWSWIRE) — BigCommerce (Nasdaq: BIGC), a leading provider of open, composable commerce solutions for B2C and B2B brands, retailers, manufacturers and distributors, today announced that Graham & Brown, a leading UK wallcoverings and home décor company, has achieved measurable improvements in customer experience, revenue growth, operational efficiency and digital maturity since launching its B2B ecommerce site on BigCommerce.

    In an industry traditionally driven by human touchpoints and manual processes, Graham & Brown recognised a fundamental shift in buyer expectations to increasingly demand the convenience and efficiency of digital self-service. Working with BigCommerce, Graham & Brown built a B2B ecommerce site to improve the buyer experience and its own business operations.

    Achieving revenue growth and market expansion

    This transformation moved quickly from concept to delivery. Within just 12 weeks, Graham & Brown launched a fully functioning B2B ecommerce site in January 2025. Adoption was rapid with 90% of key accounts having embraced the new digital channel, in the first few months, underlying the demand for a more efficient, customer-centric buying experience.

    Building on this early success, Graham & Brown rapidly expanded the platform beyond the UK, launching in Ireland and the broader European market by March. Designed from the outset with global scale in mind, the platform supports multi-currency transactions in GBP, USD, EUR, AUD, and NZD.

    Enhancing customer experience

    Central to Graham & Brown’s digital transformation was a focus on delivering a better customer experience. By engaging real customers in the build process, Graham & Brown gained direct insights into day-to-day user needs, enabling the development of features specifically tailored to the B2B buyer. BigCommerce allowed Graham & Brown to streamline the buyer experience, including a Quick Order tool for frequent, high-volume purchases, real-time visibility into credit balances and industry-specific functionality such as specifying batch numbers for wallpaper orders to ensure exact colour consistency.

    Another standout innovation was the launch of bespoke print-to-order wallpaper mural creation tools for B2B customers. This innovative feature allows trade clients to input custom dimensions and crop and zoom onto the design, to create a bespoke feature wall mural.

    “BigCommerce’s platform has been incredibly successful at delivering and achieving our digital goals from the onset,” said Mike Berry, head of ecommerce at Graham & Brown. “Not only has the platform elevated our customers’ journey by creating a more tailored and personalised experience, but it has also significantly eased the burden on our sales team.”

    Realising operational efficiencies

    The benefits of the new platform have been felt strongly inside the organisation. By shifting routine transactions and inquiries online, Graham & Brown has achieved significant operational efficiencies. The customer service team experienced a reduction in inbound calls, as common questions about stock, pricing and order status were answered by the website’s self-service tools. Likewise, the sales team has seen the typical Monday morning backlog of orders and emails decline.

    “We’re thrilled that Graham & Brown’s B2B website is delivering a tailored, elevated digital experience that meets the unique needs of the home furnishings industry,” said Lance Owide, general manager of B2B at BigCommerce. “Graham & Brown had a vision to use ecommerce to drive operational efficiency, and to power the company’s global growth ambitions, and the results so far have achieved this while staying true to the core values of the brand.”

    To learn more about BigCommerce B2B Edition, click here.

    About BigCommerce

    BigCommerce (Nasdaq: BIGC) is a leading open SaaS and composable ecommerce platform that empowers brands, retailers, manufacturers and distributors of all sizes to build, innovate and grow their businesses online. BigCommerce provides its customers sophisticated professional-grade functionality, customisation and performance with simplicity and ease-of-use. Tens of thousands of B2C and B2B companies across 150 countries and numerous industries rely on BigCommerce, including Coldwater Creek, Harvey Nichols, King Arthur Baking Co., MKM Building Supplies, United Aqua Group and Uplift Desk. For more information, please visit www.bigcommerce.com or follow us on X and LinkedIn.

    BigCommerce® is a registered trademark of BigCommerce Pty. Ltd. Third-party trademarks and service marks are the property of their respective owners.

    Media Contact:
    Brad Hem
    pr@bigcommerce.com 

    The MIL Network –

  • MIL-OSI: Home Decor Brand Graham & Brown Boosts Operational Efficiency and Growth with BigCommerce

    Source: GlobeNewswire (MIL-OSI)

    AUSTIN, Texas and LONDON, July 07, 2025 (GLOBE NEWSWIRE) — BigCommerce (Nasdaq: BIGC), a leading provider of open, composable commerce solutions for B2C and B2B brands, retailers, manufacturers and distributors, today announced that Graham & Brown, a leading UK wallcoverings and home décor company, has achieved measurable improvements in customer experience, revenue growth, operational efficiency and digital maturity since launching its B2B ecommerce site on BigCommerce.

    In an industry traditionally driven by human touchpoints and manual processes, Graham & Brown recognised a fundamental shift in buyer expectations to increasingly demand the convenience and efficiency of digital self-service. Working with BigCommerce, Graham & Brown built a B2B ecommerce site to improve the buyer experience and its own business operations.

    Achieving revenue growth and market expansion

    This transformation moved quickly from concept to delivery. Within just 12 weeks, Graham & Brown launched a fully functioning B2B ecommerce site in January 2025. Adoption was rapid with 90% of key accounts having embraced the new digital channel, in the first few months, underlying the demand for a more efficient, customer-centric buying experience.

    Building on this early success, Graham & Brown rapidly expanded the platform beyond the UK, launching in Ireland and the broader European market by March. Designed from the outset with global scale in mind, the platform supports multi-currency transactions in GBP, USD, EUR, AUD, and NZD.

    Enhancing customer experience

    Central to Graham & Brown’s digital transformation was a focus on delivering a better customer experience. By engaging real customers in the build process, Graham & Brown gained direct insights into day-to-day user needs, enabling the development of features specifically tailored to the B2B buyer. BigCommerce allowed Graham & Brown to streamline the buyer experience, including a Quick Order tool for frequent, high-volume purchases, real-time visibility into credit balances and industry-specific functionality such as specifying batch numbers for wallpaper orders to ensure exact colour consistency.

    Another standout innovation was the launch of bespoke print-to-order wallpaper mural creation tools for B2B customers. This innovative feature allows trade clients to input custom dimensions and crop and zoom onto the design, to create a bespoke feature wall mural.

    “BigCommerce’s platform has been incredibly successful at delivering and achieving our digital goals from the onset,” said Mike Berry, head of ecommerce at Graham & Brown. “Not only has the platform elevated our customers’ journey by creating a more tailored and personalised experience, but it has also significantly eased the burden on our sales team.”

    Realising operational efficiencies

    The benefits of the new platform have been felt strongly inside the organisation. By shifting routine transactions and inquiries online, Graham & Brown has achieved significant operational efficiencies. The customer service team experienced a reduction in inbound calls, as common questions about stock, pricing and order status were answered by the website’s self-service tools. Likewise, the sales team has seen the typical Monday morning backlog of orders and emails decline.

    “We’re thrilled that Graham & Brown’s B2B website is delivering a tailored, elevated digital experience that meets the unique needs of the home furnishings industry,” said Lance Owide, general manager of B2B at BigCommerce. “Graham & Brown had a vision to use ecommerce to drive operational efficiency, and to power the company’s global growth ambitions, and the results so far have achieved this while staying true to the core values of the brand.”

    To learn more about BigCommerce B2B Edition, click here.

    About BigCommerce

    BigCommerce (Nasdaq: BIGC) is a leading open SaaS and composable ecommerce platform that empowers brands, retailers, manufacturers and distributors of all sizes to build, innovate and grow their businesses online. BigCommerce provides its customers sophisticated professional-grade functionality, customisation and performance with simplicity and ease-of-use. Tens of thousands of B2C and B2B companies across 150 countries and numerous industries rely on BigCommerce, including Coldwater Creek, Harvey Nichols, King Arthur Baking Co., MKM Building Supplies, United Aqua Group and Uplift Desk. For more information, please visit www.bigcommerce.com or follow us on X and LinkedIn.

    BigCommerce® is a registered trademark of BigCommerce Pty. Ltd. Third-party trademarks and service marks are the property of their respective owners.

    Media Contact:
    Brad Hem
    pr@bigcommerce.com 

    The MIL Network –