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Category: GlobeNewswire

  • MIL-OSI: Narda-MITEQ Awarded Prototype to Optimize Power Dividers in Growler Aircrafts for DoN

    Source: GlobeNewswire (MIL-OSI)

    LOS ANGELES, June 18, 2025 (GLOBE NEWSWIRE) — Naval Air Systems Command (NAVAIR) Program Manager Air (PMA)–265 and Naval Surface Warfare Center, Crane Division (NSWC Crane), in partnership with NSTXL through the S²MARTS OTA, have announced a prototype award to optimize Power Dividers for the EA–18G aircraft. NAVAIR is qualifying a new design and source of supply for the Power Dividers, which are utilized in the ALQ-218(V)2 Tactical Jamming Subsystem Receiver (TJSR). The prototyping and qualification will be awarded to Narda-MITEQ.

    Prior to the award, NAVAIR participated in an event in which organizations interested in submitting could engage with NAVAIR and ask questions about the opportunity, as well as clarify government needs. The Strategic & Spectrum Missions Advanced Resilient Trusted Systems (S²MARTS) Other Transaction Authority (OTA), the agreement vehicle for the opportunity, hosted the event as well as an industry networking event to encourage teaming. OTAs are a modern, efficient prototyping vehicle suitable for opportunities like Power Dividers that need to move quickly.

    The S2MARTS OTA is managed by National Security Technology Accelerator (NSTXL). NSTXL is a consortium manager focused on revolutionizing government innovation. With accelerated prototyping processes through OTAs, DoD can make leading technologies like power dividers available to the Warfighter faster than ever.

    About S2MARTS
    The Strategic & Spectrum Missions Advanced Resilient Trusted Systems (S²MARTS), managed by NSTXL, is the premier rapid OT agreement vehicle for the Department of Defense (DoD) in trusted microelectronics, strategic & spectrum mission, and other critical mission areas. The Naval Surface Warfare Center (NSWC), Crane Division created S²MARTS to grow and engage an elite network of innovators, shorten the path to defense prototype development, and advance national security efforts.

    For media inquiries contact:
    NSTXL Press
    press@nstxl.org

    The MIL Network –

  • MIL-OSI: Carbon Streaming Announces Annual General Meeting Results

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, June 18, 2025 (GLOBE NEWSWIRE) — Carbon Streaming Corporation (Cboe CA: NETZ) (OTCQB: OFSTF) (FSE: M2Q) (“Carbon Streaming” or the “Company”) today held its annual general meeting of shareholders (the “Meeting”), where each of the five nominees proposed as directors and listed in the Company’s management proxy circular dated May 6, 2025 were elected as directors.  

    A total of 16,029,044 common shares were voted in respect of the election of directors at the Meeting, representing approximately 30.32% of the votes attached to all outstanding common shares.

    At the Meeting, the shareholders of the Company also approved the appointment of Deloitte LLP as auditor and authorized the directors to fix their remuneration.

    The detailed results of the vote for the election of directors are set out below: 

    Nominee Outcome of Vote Voted Voted (%)
    Marcel de Groot Approved 12,531,540 For
    2,499,687 Withheld    		 83.370%
    16.630%
    Olivier P. Garret Approved 12,518,740 For
    2,512,487 Withheld    		 83.285%
    16.715%
    Marin Katusa Approved 12,585,416 For
    2,445,811 Withheld    		 83.728%
    16.272%
    Alice Schroeder Approved 12,517,415 For
    2,513,812 Withheld    		 83.276%
    16.724%
    Sam Wong Approved 13,937,826 For
    1,093,401 Withheld    		 92.726%
    7.274%
           

    For complete voting results on all matters approved at the Meeting, please see the Company’s Report of Voting Results dated June 18, 2025 available on SEDAR+ at www.sedarplus.ca.

    About Carbon Streaming

    Carbon Streaming’s focus is on projects that generate high-quality carbon credits and have a positive impact on the environment, local communities, and biodiversity, in addition to their carbon reduction or removal potential.

    ON BEHALF OF THE COMPANY:
    Marin Katusa, Chief Executive Officer
    Tel: 365.607.6095
    info@carbonstreaming.com
    www.carbonstreaming.com

    Investor Relations
    investors@carbonstreaming.com

    Media
    media@carbonstreaming.com

    Neither Cboe Canada Inc. nor its Market Regulator (as that term is defined in the Listing Manual of Cboe Canada Inc.) accepts responsibility for the adequacy or accuracy of this release.

    The MIL Network –

  • MIL-OSI: Carbon Streaming Announces Annual General Meeting Results

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, June 18, 2025 (GLOBE NEWSWIRE) — Carbon Streaming Corporation (Cboe CA: NETZ) (OTCQB: OFSTF) (FSE: M2Q) (“Carbon Streaming” or the “Company”) today held its annual general meeting of shareholders (the “Meeting”), where each of the five nominees proposed as directors and listed in the Company’s management proxy circular dated May 6, 2025 were elected as directors.  

    A total of 16,029,044 common shares were voted in respect of the election of directors at the Meeting, representing approximately 30.32% of the votes attached to all outstanding common shares.

    At the Meeting, the shareholders of the Company also approved the appointment of Deloitte LLP as auditor and authorized the directors to fix their remuneration.

    The detailed results of the vote for the election of directors are set out below: 

    Nominee Outcome of Vote Voted Voted (%)
    Marcel de Groot Approved 12,531,540 For
    2,499,687 Withheld    		 83.370%
    16.630%
    Olivier P. Garret Approved 12,518,740 For
    2,512,487 Withheld    		 83.285%
    16.715%
    Marin Katusa Approved 12,585,416 For
    2,445,811 Withheld    		 83.728%
    16.272%
    Alice Schroeder Approved 12,517,415 For
    2,513,812 Withheld    		 83.276%
    16.724%
    Sam Wong Approved 13,937,826 For
    1,093,401 Withheld    		 92.726%
    7.274%
           

    For complete voting results on all matters approved at the Meeting, please see the Company’s Report of Voting Results dated June 18, 2025 available on SEDAR+ at www.sedarplus.ca.

    About Carbon Streaming

    Carbon Streaming’s focus is on projects that generate high-quality carbon credits and have a positive impact on the environment, local communities, and biodiversity, in addition to their carbon reduction or removal potential.

    ON BEHALF OF THE COMPANY:
    Marin Katusa, Chief Executive Officer
    Tel: 365.607.6095
    info@carbonstreaming.com
    www.carbonstreaming.com

    Investor Relations
    investors@carbonstreaming.com

    Media
    media@carbonstreaming.com

    Neither Cboe Canada Inc. nor its Market Regulator (as that term is defined in the Listing Manual of Cboe Canada Inc.) accepts responsibility for the adequacy or accuracy of this release.

    The MIL Network –

  • MIL-OSI: PSB Holdings, Inc. announces semi-annual cash dividend of $0.34 per share

    Source: GlobeNewswire (MIL-OSI)

    WAUSAU, Wis., June 18, 2025 (GLOBE NEWSWIRE) — PSB Holdings, Inc. (OTCQX: PSBQ), parent company of Peoples State Bank, is pleased to announce that on June 17, 2025, its Board of Directors declared a regular semi-annual cash dividend of $0.34 per share of the Company’s common stock. The dividend is payable July 31, 2025 to shareholders of record as of July 11, 2025 and represents an increase of 6.3% over the $0.32 per share semi-annual cash dividend declared on December 17, 2024. The current dividend continues a 60-year tradition of cash dividends to PSB shareholders including 32 consecutive years of increased cash dividends declared per share.

    PSB President and CEO Scott M. Cattanach said, “We remain optimistic for continued strong financial performance through the end of 2025 and are pleased to announce a $0.34 per share semi-annual cash dividend to holders of our common stock. We thank our shareholders for their continued support.”

    About PSB Holdings, Inc.

    PSB Holdings, Inc. is the parent company of Peoples State Bank. Peoples is a community bank headquartered in Wausau, Wisconsin, serving northcentral and southeastern Wisconsin from twelve full-service banking locations in Marathon, Oneida, Vilas, Portage, Milwaukee and Waukesha counties and a loan production office in Dane county. Peoples also provides investment and insurance products, along with retirement planning services, through Peoples Wealth Management, a division of Peoples. PSB Holdings, Inc. is traded under the stock symbol PSBQ on the OTCQX Market. More information about PSB, its management, and its financial performance may be found at www.psbholdingsinc.com. 

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on current expectations, estimates and projections about PSB’s business based, in part, on assumptions made by management and include, without limitation, statements with respect to the potential growth of PSB, its future profits, expected stock repurchase levels, future dividend rates, future interest rates, and the adequacy of its capital position. Forward-looking statements can be affected by known and unknown risks, uncertainties, and other factors, including, but not limited to, strength of the economy, the effects of government policies, including interest rate policies, risks associated with the execution of PSB’s vision and growth strategy, including with respect to current and future M&A activity, and risks associated with global economic instability relating to the COVID-19 pandemic and its effect on PSB and Peoples, and their customers, and other risks. The forward-looking statements in this press release speak only as of the date on which they are made and PSB does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release.

    Investor Relations Contact
    PSB Holdings, Inc.
    1905 Stewart Avenue
    Wausau, WI 54401
    888.929.9902
    InvestorRelations@bankpeoples.com 

    The MIL Network –

  • MIL-OSI: Embassy Bancorp, Inc. Announces Annual Cash Dividend

    Source: GlobeNewswire (MIL-OSI)

    BETHLEHEM, Pa., June 18, 2025 (GLOBE NEWSWIRE) — Embassy Bancorp, Inc. (OTCQX: EMYB) announced today that its Board of Directors has declared an annual cash dividend of $0.48 per share, payable on July 15, 2025, to shareholders of record on June 27, 2025. This represents an over 14% increase over last year’s dividend and our 16th consecutive year of paying a dividend.

    “I’m proud to share our annual dividend and the continued strength of our performance,” said David M. Lobach, Jr., Chairman, President, and Chief Executive Officer. “Our consistent dividend payments reflect not only our financial stability but also our unwavering commitment to delivering long-term value to our shareholders.

    Over the past year, we’ve been honored with several prestigious recognitions. For the 10th consecutive year, we were named Reader’s Choice Best Bank by The Morning Call, serving the Lehigh Valley. We were also recognized as Best Bank and Best Mortgage Company in Lehigh Valley Style Magazine’s Who’s Who in Business. Additionally, we earned a 5-star rating from Bauer Financial and were ranked 45th among the top 100 publicly traded community banks with assets under $2 billion by American Banker Magazine, based on a three-year average return on equity.

    These accolades are a testament to our deep-rooted focus on customer service, community engagement, and the dedication of our exceptional team. As an independent, community-focused bank, we remain committed to our founding vision: to serve the Lehigh Valley with integrity, responsiveness, and a long-term perspective. We believe this positions us well for continued growth and success for all our stakeholders.”

    About Embassy Bancorp, Inc.

    With over $1.7 billion in assets, Embassy Bancorp, Inc. is the parent company of Embassy Bank For the Lehigh Valley, a full-service community bank operating ten branch offices in the Lehigh Valley area of Pennsylvania. As of June 30, 2024, the Federal Deposit Insurance Corporation’s Summary of Deposits indicates that the Bank holds the 4th spot in deposit market share in Lehigh and Northampton Counties combined. For more information, visit www.embassybank.com.

    Safe Harbor for Forward-Looking Statements

    This document may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results and trends could differ materially from those set forth in such statements due to various risks, uncertainties and other factors. Such risks, uncertainties and other factors that could cause actual results and experience to differ from those projected include, but are not limited to, the following: ineffectiveness of the company’s business strategy due to changes in current or future market conditions; the effects of competition, and of changes in laws and regulations, including industry consolidation and development of competing financial products and services; interest rate movements; changes in credit quality; difficulties in integrating distinct business operations, including information technology difficulties; volatilities in the securities markets; and deteriorating economic conditions, and other risks and uncertainties, including those detailed in Embassy Bancorp, Inc.’s filings with the Securities and Exchange Commission (SEC). The statements are valid only as of the date hereof and Embassy Bancorp, Inc. disclaims any obligation to update this information.

    Contact: Lynne M. Neel (610) 882-8800

    The MIL Network –

  • MIL-OSI: Ring Energy Announces Credit Facility Extension and Amendment

    Source: GlobeNewswire (MIL-OSI)

    THE WOODLANDS, Texas, June 18, 2025 (GLOBE NEWSWIRE) — Ring Energy, Inc. (NYSE American: REI) (“Ring” or the “Company”) today announced that the borrowing base was affirmed at $585 million under its $1.0 billion senior secured credit facility (the “Credit Facility”). In addition, the Credit Facility term was extended to June 2029, and Bank of America, N.A. was named as new Administrative Agent.

    KEY HIGHLIGHTS

    • Entered into a Third Amended and Restated Credit Agreement with a borrowing base of $585 million;
    • Extended Credit Facility term 34 months to June 2029, supported by an 11-member banking syndicate;
    • Reflects a 25 basis point reduction in the Applicable Margin pricing grid; and
    • Next regularly scheduled bank redetermination to occur during the fall of 2025.

    Paul D. McKinney, Chairman of the Board and Chief Executive Officer, commented, “Ring has worked to strengthen our balance sheet and improve the quality of assets supporting our Credit Facility. We value the ongoing support from our bank group and are pleased to have Bank of America as our new administrative agent. Despite oil and gas price volatility in 2025, our asset base enabled us to maintain a sufficient borrowing base, with only a slight reduction from last year.  We continue to focus on generating free cash flow through cost reductions, divestitures of non-core assets, and acquiring high-margin, low-break-even assets, using excess cash to reduce debt and create value for stockholders across commodity price cycles.”

    We further expanded our banking relationships by adding Citibank, N.A. to the syndicate which now includes Bank of America, N.A., Citizens Bank, N.A., KeyBanc National Association, Mizuho Bank, Ltd., Truist Bank, U.S. Bank National Association, Cathay Bank, First Horizon Bank, Amegy Bank and Goldman Sachs Lending Partners, LLC.

    About Ring Energy, Inc.

    Ring Energy, Inc. is an oil and gas exploration, development, and production company with current operations focused on the development of its Permian Basin assets. For additional information, please visit www.ringenergy.com.

    Safe Harbor Statement

    This 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 involve a wide variety of risks and uncertainties, and include, without limitation, statements with respect to the Company’s strategy and prospects, the Company’s efforts to manage commodity price volatility, and other areas of focus. Forward-looking statements are based on current expectations and subject to numerous assumptions and analyses made by Ring and its management considering their experience and perception of historical trends, current conditions and expected future developments, as well as other factors appropriate under the circumstances. However, whether actual results and developments will conform to expectations is subject to a number of material risks and uncertainties. Such statements are subject to certain risks and uncertainties which are disclosed in the Company’s reports filed with the Securities and Exchange Commission (“SEC”), including its Form 10-K for the fiscal year ended December 31, 2024, and its other SEC filings. Ring undertakes no obligation to revise or update publicly any forward-looking statements, except as required by law.

    Contact Information

    Al Petrie Advisors
    Al Petrie, Senior Partner
    Phone: 281-975-2146
    Email: apetrie@ringenergy.com

    The MIL Network –

  • MIL-OSI: Condor Provides an Operations Update

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, June 18, 2025 (GLOBE NEWSWIRE) — Condor Energies Inc. (“Condor” or the “Company”) (TSX: CDR), a Canadian based, internationally focused energy transition company with active operations in Central Asia is pleased to provide an update.

    UZBEKISTAN

    Production for June has averaged 11,350 boepd to date which is slightly above the first quarter of 2025 average of 11,179 boepd. Production rates in the second quarter of 2025 have been partially restricted due to unplanned downstream infrastructure maintenance at non-Company operated facilities and recent workovers that were focused on data gathering to enhance geologic and reservoir modeling for the upcoming drilling campaign. The resulting second quarter production to-date is 10,332 boepd. Well workover activities have since returned to production-add opportunities and the downstream facilities are fully operational.

    A drilling rig is scheduled to mobilize in July 2025 and begin a multi-well drilling campaign that will target numerous play types within a diverse prospect inventory. A combination of vertical, horizontal and Uzbekistan’s first multi-lateral wells will penetrate under-developed reservoirs in the existing fields. In addition to penetrating the currently producing Jurassic Carbonates, the first well will be a vertical well drilled to the basement rocks to evaluate the deeper under-explored Jurassic Clastics and the potential for a fractured basement play type. The second well is intended to be a horizontal well with up to a 1500-meter lateral section. Wells are planned to be completed with modern stimulation techniques to further increase production rates.

    The Company has also installed and commissioned four in-field flowline water separation systems to remove produced fluids at the field gathering network rather than at the production facilities. This reduces flowline pressure that can lead to higher reservoir flow rates. A fifth in-field flowline unit is being installed and expected to be commissioned in early July 2025. Engineering design work is also ongoing for field compression that could further boost production rates.

    KAZAKHSTAN

    As previously disclosed, the Company has purchased its first modular LNG facility (the “First Facility”) which is capable of producing 48,000 gallons (80 MT) of LNG per day. Fabrication of the First Facility is on track to be completed in the fourth quarter of 2025 and begin LNG production in the second quarter of 2026. The LNG off-taker agreement is expected to be executed shortly.

    ABOUT CONDOR ENERGIES INC

    Condor Energies Inc is a TSX-listed energy transition company that is uniquely positioned on the doorstep of European and Asian markets with three distinct first-mover energy security initiatives: increasing natural gas and condensate production from its existing fields in Uzbekistan; an ongoing project to construct and operate Central Asia’s first LNG ‘lower carbon fuel’ diesel substitution facility in Kazakhstan; and a separate initiative to develop and produce critical minerals from brines in Kazakhstan. Condor has already built a strong foundation for reserves, production and cashflow growth while also striving to minimize its environmental footprint.

    FORWARD-LOOKING STATEMENTS

    Certain statements in this news release constitute forward-looking statements under applicable securities legislation. Such statements are generally identifiable by the terminology used, such as “anticipate”, “appear”, “believe”, “intend”, “expect”, “plan”, “estimate”, “budget”, “outlook”, “scheduled”, “may”, “will”, “should”, “could”, “would”, “in the process of” or other similar wording. Forward-looking information in this news release includes, but is not limited to, information concerning: the timing and ability of well workovers to increase production; the timing and ability to mobilize the drilling rig; the timing and ability to execute a multi-well drilling campaign and the timing and ability to target multiple play types; the timing and ability to evaluate the deeper Jurassic Clastic zones; the timing and ability to penetrate basement rocks and the timing and ability of the basement rocks to be a fractured prospective basement play type; the timing and ability to implement modern stimulation techniques to increase production rates; the timing and ability of the in-field flowline separators to reduce pressure and lead to higher flow rates; the timing and ability to commission the fifth in-field flowline separator; the timing and ability of field compression to boost production rates; the timing and ability of the First Facility to produce 48,000 gallons (80 MT) of LNG per day; the timing and ability to complete fabrication of the First Facility and begin LNG production; the timing and ability to execute an LNG off-taker agreement; and the timing and ability to fund the various planned activities.

    ABBREVIATIONS

    The following is a summary of abbreviations used in this news release:

    boepd Barrels of oil equivalent per day*
    LNG Liquefied Natural Gas
    MT Metric tonnes

    * Barrels of oil equivalent (“boe”) are derived by converting gas to oil in the ratio of six thousand standard cubic feet (“Mscf”) of gas to one barrel of oil based on an energy conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Given the value ratio based on the current price of crude oil as compared to natural gas is significantly different from the energy equivalency of 6 Mscf to 1 barrel, utilizing a conversion ratio at 6 Mscf to 1 barrel may be misleading as an indication of value, particularly if used in isolation.

    The TSX does not accept responsibility for the adequacy or accuracy of this news release.

    For further information, please contact Don Streu, President and CEO or Sandy Quilty, Vice President of Finance and CFO at 403-201-9694.

    The MIL Network –

  • MIL-OSI: First Bank Announces Completion of $35 Million Subordinated Debt Offering

    Source: GlobeNewswire (MIL-OSI)

    HAMILTON, N.J., June 18, 2025 (GLOBE NEWSWIRE) — First Bank (the “Bank”) (NASDAQ: FRBA) today announced the closing of a $35.0 million private placement of fixed-to-floating rate subordinated notes. The Bank plans to use the proceeds to redeem its outstanding $30.0 million of subordinated notes and for general corporate purposes.

    The notes have a maturity date of June 30, 2035, and carry a fixed rate of interest of 7.125% for the first five years. Thereafter, the notes will pay interest at a floating rate, reset quarterly, equal to the then current three-month Secured Overnight Financing Rate (“SOFR”) plus 343 basis points. The notes may be redeemed at the option of the Bank, without penalty, on or after June 30, 2030. The notes have been structured to qualify as Tier 2 capital for regulatory purposes.

    President and Chief Executive Officer Patrick L. Ryan discussed the offering: “We are pleased to announce the successful completion of our subordinated debt offering. This new capital will allow us to retire our existing subordinated notes at a lower interest rate and enhance our capital base to support our continued growth without the dilutive impact of issuing additional shares of common stock. Furthermore, the tax-deductible nature of the instrument, combined with low interest rate, makes the overall cost of capital quite attractive.”

    Piper Sandler & Co. served as sole placement agent for the private offering. First Bank was advised by Luse Gorman, PC and Piper Sandler & Co. was advised by Silver, Freedman, Taff & Tiernan LLP.

    About First Bank
    First Bank is a New Jersey state-chartered bank with 27 full-service branches in Cinnaminson, Delanco, Denville, Ewing, Fairfield, Flemington, Hamilton, Lawrence, Monroe, Pennington, Randolph, Somerset, Trenton, Williamstown, Morristown and Summit, New Jersey, Doylestown, Trevose, Warminster, West Chester, Paoli, Malvern, Coventry, Devon, Lionville, Media, Pennsylvania, and Palm Beach, Florida. With $3.88 billion in assets as of March 31, 2025, First Bank offers a traditional range of deposit and loan products to individuals and businesses mainly throughout the New York City to Philadelphia corridor. First Bank’s common stock is listed on the Nasdaq Global Market exchange under the symbol “FRBA”.

    This news release contains certain forward-looking statements, either expressed or implied, which are provided to assist the reader in understanding anticipated future financial performance. These statements involve certain risks, uncertainties, estimates and assumptions made by management, which are subject to factors beyond First Bank’s control and could impede its ability to achieve these goals. These factors include those listed under Item 1A-Risk Factors in our Annual Report on Form 10-K for the period ended December 31, 2024 and our Quarterly Report on Form 10-Q for the period ended March 31 2025, many of which are out of our control. If one or more events related to these or other risks or uncertainties materialize, or if First Bank’s underlying assumptions prove to be incorrect, actual results may differ materially from what First Bank anticipates. Accordingly, you should not place undue reliance on any such forward-looking statements.

    Contact
    Andrew Hibshman, Chief Financial Officer
    (609) 643-0058, andrew.hibshman@firstbanknj.com

    The MIL Network –

  • MIL-OSI: First Bank Announces Completion of $35 Million Subordinated Debt Offering

    Source: GlobeNewswire (MIL-OSI)

    HAMILTON, N.J., June 18, 2025 (GLOBE NEWSWIRE) — First Bank (the “Bank”) (NASDAQ: FRBA) today announced the closing of a $35.0 million private placement of fixed-to-floating rate subordinated notes. The Bank plans to use the proceeds to redeem its outstanding $30.0 million of subordinated notes and for general corporate purposes.

    The notes have a maturity date of June 30, 2035, and carry a fixed rate of interest of 7.125% for the first five years. Thereafter, the notes will pay interest at a floating rate, reset quarterly, equal to the then current three-month Secured Overnight Financing Rate (“SOFR”) plus 343 basis points. The notes may be redeemed at the option of the Bank, without penalty, on or after June 30, 2030. The notes have been structured to qualify as Tier 2 capital for regulatory purposes.

    President and Chief Executive Officer Patrick L. Ryan discussed the offering: “We are pleased to announce the successful completion of our subordinated debt offering. This new capital will allow us to retire our existing subordinated notes at a lower interest rate and enhance our capital base to support our continued growth without the dilutive impact of issuing additional shares of common stock. Furthermore, the tax-deductible nature of the instrument, combined with low interest rate, makes the overall cost of capital quite attractive.”

    Piper Sandler & Co. served as sole placement agent for the private offering. First Bank was advised by Luse Gorman, PC and Piper Sandler & Co. was advised by Silver, Freedman, Taff & Tiernan LLP.

    About First Bank
    First Bank is a New Jersey state-chartered bank with 27 full-service branches in Cinnaminson, Delanco, Denville, Ewing, Fairfield, Flemington, Hamilton, Lawrence, Monroe, Pennington, Randolph, Somerset, Trenton, Williamstown, Morristown and Summit, New Jersey, Doylestown, Trevose, Warminster, West Chester, Paoli, Malvern, Coventry, Devon, Lionville, Media, Pennsylvania, and Palm Beach, Florida. With $3.88 billion in assets as of March 31, 2025, First Bank offers a traditional range of deposit and loan products to individuals and businesses mainly throughout the New York City to Philadelphia corridor. First Bank’s common stock is listed on the Nasdaq Global Market exchange under the symbol “FRBA”.

    This news release contains certain forward-looking statements, either expressed or implied, which are provided to assist the reader in understanding anticipated future financial performance. These statements involve certain risks, uncertainties, estimates and assumptions made by management, which are subject to factors beyond First Bank’s control and could impede its ability to achieve these goals. These factors include those listed under Item 1A-Risk Factors in our Annual Report on Form 10-K for the period ended December 31, 2024 and our Quarterly Report on Form 10-Q for the period ended March 31 2025, many of which are out of our control. If one or more events related to these or other risks or uncertainties materialize, or if First Bank’s underlying assumptions prove to be incorrect, actual results may differ materially from what First Bank anticipates. Accordingly, you should not place undue reliance on any such forward-looking statements.

    Contact
    Andrew Hibshman, Chief Financial Officer
    (609) 643-0058, andrew.hibshman@firstbanknj.com

    The MIL Network –

  • MIL-OSI: Artificial Intelligence Risk, Inc. and Fynancial, Inc. Awarded “Best in Show” at RIA Edge for “Fyn”, the First Agentic AI Powered Assistant for Financial Advisors

    Source: GlobeNewswire (MIL-OSI)

    Greenwich, CT, June 18, 2025 (GLOBE NEWSWIRE) — Artificial Intelligence Risk, Inc. and Fynancial, Inc. were jointly awarded Best in Show at Wealth Management EDGE 2025 in Boca Raton, FL for Fyn, an agentic AI powered assistant for financial advisors.

    Fyn, launched this month in a JV between AI Risk and Fynancial simplifies day-to-day advisor workflows by combining firm data, client activity, and platform integrations into one intelligent command center. 

    Artificial Intelligence Risk, Inc., a firm specializing in AI governance, risk, compliance, and cybersecurity (GRCC), partnered with Fynancial to build out the AI agents for Fyn and operate within a robust safety framework that includes permission-based access, hallucination filtering, agent testing, and role-based control over sensitive data. AI Risk has a patent pending on AI GRCC – a governance, risk, compliance and cybersecurity platform specifically for Gen AI.

    Reflecting on the award, Alec Crawford, CEO and Co-Founder of Artificial Intelligence Risk Inc., notes, “I am so proud of the team effort between Artificial Intelligence Risk, Inc. and Fynancial. Winning shows not just the power of our agentic AI platform to help financial advisors, but also the necessity of having AI governance, risk, compliance, and cyber security at the heart of enterprise AI. That’s what we do.”

    Learn more about Artificial Intelligence Risk Inc.

    About Artificial Intelligence Risk 
    Artificial Intelligence Risk (AI Risk, Inc.) is the leader in AI governance, risk, compliance, and cybersecurity (AI GRCC) software, offering the first comprehensive advanced platform for generative-AI safety, security, and regulatory compliance. Founded in 2023 by Alec Crawford, Frank Fitzgerald and Joe McMann, AI Risk’s team has decades of experience in artificial intelligence, financial services, risk management, and compliance. The company focuses on rapid (one hour) private cloud deployment and strict data confidentiality, enabling secure and regulatory-compliant use of AI and generative-AI technologies for high-risk organizations across the globe. For more information, please visit aicrisk.com. 

    About Fynancial 
    Fynancial is a mobile-first digital experience platform that redefines how advisors and clients connect. Fully white-labeled and integrated across an RIA’s existing tech stack, Fynancial enables secure messaging, real-time meeting scheduling, document sharing, and personalized push notifications, all through a firm-branded app. By centralizing communication and integrating with platforms like Orion, Tamarac, Addepar, and Black Diamond, Fynancial delivers a seamless, high-engagement experience that helps advisors scale trust, drive referrals, and modernize client service.

    Contact: 

    Alec Crawford, CEO 

    aleccrawford@aicrisk.com 

    The MIL Network –

  • MIL-OSI: Artificial Intelligence Risk, Inc. and Fynancial, Inc. Awarded “Best in Show” at RIA Edge for “Fyn”, the First Agentic AI Powered Assistant for Financial Advisors

    Source: GlobeNewswire (MIL-OSI)

    Greenwich, CT, June 18, 2025 (GLOBE NEWSWIRE) — Artificial Intelligence Risk, Inc. and Fynancial, Inc. were jointly awarded Best in Show at Wealth Management EDGE 2025 in Boca Raton, FL for Fyn, an agentic AI powered assistant for financial advisors.

    Fyn, launched this month in a JV between AI Risk and Fynancial simplifies day-to-day advisor workflows by combining firm data, client activity, and platform integrations into one intelligent command center. 

    Artificial Intelligence Risk, Inc., a firm specializing in AI governance, risk, compliance, and cybersecurity (GRCC), partnered with Fynancial to build out the AI agents for Fyn and operate within a robust safety framework that includes permission-based access, hallucination filtering, agent testing, and role-based control over sensitive data. AI Risk has a patent pending on AI GRCC – a governance, risk, compliance and cybersecurity platform specifically for Gen AI.

    Reflecting on the award, Alec Crawford, CEO and Co-Founder of Artificial Intelligence Risk Inc., notes, “I am so proud of the team effort between Artificial Intelligence Risk, Inc. and Fynancial. Winning shows not just the power of our agentic AI platform to help financial advisors, but also the necessity of having AI governance, risk, compliance, and cyber security at the heart of enterprise AI. That’s what we do.”

    Learn more about Artificial Intelligence Risk Inc.

    About Artificial Intelligence Risk 
    Artificial Intelligence Risk (AI Risk, Inc.) is the leader in AI governance, risk, compliance, and cybersecurity (AI GRCC) software, offering the first comprehensive advanced platform for generative-AI safety, security, and regulatory compliance. Founded in 2023 by Alec Crawford, Frank Fitzgerald and Joe McMann, AI Risk’s team has decades of experience in artificial intelligence, financial services, risk management, and compliance. The company focuses on rapid (one hour) private cloud deployment and strict data confidentiality, enabling secure and regulatory-compliant use of AI and generative-AI technologies for high-risk organizations across the globe. For more information, please visit aicrisk.com. 

    About Fynancial 
    Fynancial is a mobile-first digital experience platform that redefines how advisors and clients connect. Fully white-labeled and integrated across an RIA’s existing tech stack, Fynancial enables secure messaging, real-time meeting scheduling, document sharing, and personalized push notifications, all through a firm-branded app. By centralizing communication and integrating with platforms like Orion, Tamarac, Addepar, and Black Diamond, Fynancial delivers a seamless, high-engagement experience that helps advisors scale trust, drive referrals, and modernize client service.

    Contact: 

    Alec Crawford, CEO 

    aleccrawford@aicrisk.com 

    The MIL Network –

  • MIL-OSI: Oportun Releases Investor Presentation Highlighting Strategic Progress

    Source: GlobeNewswire (MIL-OSI)

    Outlines proactive steps taken by Board and management to drive long-term stockholder value

    Urges stockholders to vote “FOR” Oportun’s two nominees – CEO Raul Vazquez and Carlos Minetti – on the GREEN proxy card

    SAN CARLOS, Calif., June 18, 2025 (GLOBE NEWSWIRE) — Oportun (Nasdaq: OPRT), a mission-driven financial services company, today released an investor presentation in connection with the Company’s upcoming Annual Meeting of Stockholders, scheduled to be held on July 18, 2025. The presentation and additional important information related to the Annual Meeting are available at VoteForOportun.com.

    Oportun’s Board of Directors encourages stockholders to review the Company’s proxy statement carefully and vote “FOR” the Company’s nominees – CEO Raul Vazquez and Carlos Minetti – using the GREEN proxy card or GREEN voting instruction form.

    If you have any questions about how to vote your shares, please call the firm assisting us with the solicitation of proxies:

    INNISFREE M&A INCORPORATED
    Stockholders may call:
    (877) 800-5195 (toll-free from the U.S. and Canada) or
    +1 (412) 232-3651 (from other countries)

    About Oportun

    Oportun (Nasdaq: OPRT) is a mission-driven financial services company that puts its members’ financial goals within reach. With intelligent borrowing, savings, and budgeting capabilities, Oportun empowers members with the confidence to build a better financial future. Since inception, Oportun has provided more than $20.3 billion in responsible and affordable credit, saved its members more than $2.4 billion in interest and fees, and helped its members set aside an average of more than $1,800 annually. For more information, visit Oportun.com.

    Investor Contact
    Dorian Hare
    (650) 590-4323
    ir@oportun.com

    Innisfree M&A Incorporated
    Scott Winter / Gabrielle Wolf / Jonathan Kovacs
    (212) 750-5833

    Media Contact
    FGS Global
    John Christiansen / Bryan Locke
    Oportun@fgsglobal.com

    The MIL Network –

  • MIL-OSI: Greystone Housing Impact Investors LP Extends General Line of Credit Facility

    Source: GlobeNewswire (MIL-OSI)

    OMAHA, Neb., June 18, 2025 (GLOBE NEWSWIRE) — Greystone Housing Impact Investors LP (NYSE: GHI) (the “Partnership”) announced today that on June 12, 2025, it amended its existing $50 million secured revolving Line of Credit facility (“LOC”). The LOC is secured by the Partnership’s joint venture equity investments. BankUnited, N.A. serves as sole arranger and administrative agent.

    The amendment extended the maturity date to June 2027, with two additional one-year extension options, increased the maximum allowable seniors housing joint venture equity investments the Partnership can make to 30% of eligible encumbered assets, and increased the Partnership’s maximum allowable limited guaranties of debt associated with its joint venture equity investments.

    An affiliate of the Partnership’s general partner provides a deficiency guaranty for the facility. The affiliate does not charge the Partnership a fee for the deficiency guaranty.

    “The amendment to our general LOC provides valuable liquidity and enhances our operational flexibility to make additional joint venture equity investments in the seniors housing segment,” said Kenneth C. Rogozinski, Chief Executive Officer of the Partnership.

    About Greystone Housing Impact Investors LP

    Greystone Housing Impact Investors LP was formed in 1998 under the Delaware Revised Uniform Limited Partnership Act for the primary purpose of acquiring, holding, selling and otherwise dealing with a portfolio of mortgage revenue bonds which have been issued to provide construction and/or permanent financing for affordable multifamily, seniors and student housing properties. The Partnership is pursuing a business strategy of acquiring additional mortgage revenue bonds and other investments on a leveraged basis. The Partnership expects and believes the interest earned on these mortgage revenue bonds is excludable from gross income for federal income tax purposes. The Partnership seeks to achieve its investment growth strategy by investing in additional mortgage revenue bonds and other investments as permitted by its Second Amended and Restated Limited Partnership Agreement, dated December 5, 2022, taking advantage of attractive financing structures available in the securities market, and entering into interest rate risk management instruments. Greystone Housing Impact Investors LP press releases are available at www.ghiinvestors.com.

    Safe Harbor Statement

    Information contained in this press release contains “forward-looking statements,” which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties include, but are not limited to, risks involving current maturities of our financing arrangements and our ability to renew or refinance such maturities, fluctuations in short-term interest rates, collateral valuations, mortgage revenue bond investment valuations and overall economic and credit market conditions. For a further list and description of such risks, see the reports and other filings made by the Partnership with the Securities and Exchange Commission, including but not limited to, its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. Readers are urged to consider these factors carefully in evaluating the forward-looking statements. The Partnership disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

    MEDIA CONTACT:
    Karen Marotta
    Greystone
    212-896-9149
    Karen.Marotta@greyco.com

    INVESTOR CONTACT:
    Andy Grier
    Senior Vice President
    402-952-1235

    The MIL Network –

  • MIL-OSI: John Pucin Appointed to Board of Directors of NSTS Bancorp, Inc. and North Shore Trust and Savings

    Source: GlobeNewswire (MIL-OSI)

    WAUKEGAN, Ill., June 18, 2025 (GLOBE NEWSWIRE) — NSTS Bancorp, Inc. (the “Company”), the holding company for North Shore Trust and Savings (the “Bank”), announced today that Mr. John S. Pucin has been appointed to the Board of Directors of both the Company and the Bank. Mr. Pucin was appointed to fill the vacancy in the class of directors whose term expires at the Company’s annual stockholder meeting in 2027.

    Mr. Pucin currently serves as Senior Vice President and Corporate Counsel for Caine & Weiner Company, Inc. and the managing partner of the Law Office of John S. Pucin, P.C. He graduated from Xavier University with a B.S.B.A./Finance and from the Capital University Law School with a Juris Doctor degree. Mr. Pucin has been a member of the Commercial Law League for over twenty years and is a past chair of the Midwest Region.

    “We are excited to have Mr. Pucin join our board. Mr. Pucin’s legal and management experience makes him a valuable resource and a qualified addition to the Company,” said Mr. Stephen G. Lear, Chairman, President and Chief Executive Officer of the Company.

    About NSTS Bancorp, Inc. and North Shore Trusts and Savings

    NSTS Bancorp Inc. is the holding company of North Shore Trust and Savings. As of March 31, 2025, North Shore Trust and Savings had approximately $282.7 million in assets and operates from its headquarters and main banking office in Waukegan, Illinois, as well as two additional full-service branch offices located in Waukegan and Lindenhurst, Illinois, respectively. For over 100 years, North Shore Trust and Savings has served the local communities where it operates and has deep and longstanding relationships with its businesses and retail customers as well as local municipalities.

    Contact:

    Stephen G. Lear
    Chairman, President and Chief Executive Officer
    slear@northshoretrust.com 
    (847) 336-4430

    The MIL Network –

  • MIL-OSI: John Pucin Appointed to Board of Directors of NSTS Bancorp, Inc. and North Shore Trust and Savings

    Source: GlobeNewswire (MIL-OSI)

    WAUKEGAN, Ill., June 18, 2025 (GLOBE NEWSWIRE) — NSTS Bancorp, Inc. (the “Company”), the holding company for North Shore Trust and Savings (the “Bank”), announced today that Mr. John S. Pucin has been appointed to the Board of Directors of both the Company and the Bank. Mr. Pucin was appointed to fill the vacancy in the class of directors whose term expires at the Company’s annual stockholder meeting in 2027.

    Mr. Pucin currently serves as Senior Vice President and Corporate Counsel for Caine & Weiner Company, Inc. and the managing partner of the Law Office of John S. Pucin, P.C. He graduated from Xavier University with a B.S.B.A./Finance and from the Capital University Law School with a Juris Doctor degree. Mr. Pucin has been a member of the Commercial Law League for over twenty years and is a past chair of the Midwest Region.

    “We are excited to have Mr. Pucin join our board. Mr. Pucin’s legal and management experience makes him a valuable resource and a qualified addition to the Company,” said Mr. Stephen G. Lear, Chairman, President and Chief Executive Officer of the Company.

    About NSTS Bancorp, Inc. and North Shore Trusts and Savings

    NSTS Bancorp Inc. is the holding company of North Shore Trust and Savings. As of March 31, 2025, North Shore Trust and Savings had approximately $282.7 million in assets and operates from its headquarters and main banking office in Waukegan, Illinois, as well as two additional full-service branch offices located in Waukegan and Lindenhurst, Illinois, respectively. For over 100 years, North Shore Trust and Savings has served the local communities where it operates and has deep and longstanding relationships with its businesses and retail customers as well as local municipalities.

    Contact:

    Stephen G. Lear
    Chairman, President and Chief Executive Officer
    slear@northshoretrust.com 
    (847) 336-4430

    The MIL Network –

  • MIL-OSI: The Herzfeld Caribbean Basin Fund, Inc. Announces Results of Special Meeting of Stockholders; Approval of Conversion of Fund to CLO Equity Strategy

    Source: GlobeNewswire (MIL-OSI)

    MIAMI BEACH, FLA., June 18, 2025 (GLOBE NEWSWIRE) — The Herzfeld Caribbean Basin Fund, Inc. (NASDAQ: CUBA) (the “Fund”) today announced that the Fund’s Stockholders have approved the Fund’s conversion from its current investment strategy to focus on a “CLO Equity Strategy”. The approval was voted for at a Special Meeting of Stockholders held on June 17, 2025, with approximately 96% of the votes cast in favor of the changes.

    With this change, the Fund’s primary investment objective will change to a total return strategy with a secondary objective of generating high current income for stockholders. In accordance with the change in investment objective, the Fund will focus on investing in equity and junior debt tranches of collateralized loan obligations, or “CLOs”. CLOs are portfolios of collateralized loans consisting primarily of below investment grade U.S. senior secured loans with a large number of distinct underlying borrowers across various industry sectors.

    The three proposals approved by the Fund’s stockholders at the special meeting were:

    • Proposal 1: approval of an amended and restated investment advisory agreement between the Fund and Thomas J. Herzfeld Advisors, Inc. (the “Adviser”) to permit the Adviser to receive a fee based on “managed assets” and an incentive fee.
    • Proposal 2: approval to revise the Fund’s investment objective from obtaining “long term capital appreciation” to a primary objective of “maximizing risk adjusted total returns” with a secondary objective of “generating high current income;” and to reclassify the Fund’s investment objective as non-fundamental.
    • Proposal 3: approval to amend the fundamental policies of the Fund related to borrowing, the issuance of senior securities, underwriting securities issued by other persons, industry concentration, the purchase or sale of real estate, the purchase or sale of commodities, and making loans to other persons.

    The changes approved by the Fund’s Stockholders will go into effect July 1, 2025.

    Cecilia Gondor, Chairperson of the Fund’s Board of Directors commented: “This marks an important day in the long history of our Fund and the beginning of what we hope is a bright future for our Fund investors. I want to thank my fellow board members and our Chairman Emeritus, Tom Herzfeld, for the hard work that was undertaken in managing this transition.”

    About Thomas J. Herzfeld Advisors, Inc.

    Thomas J. Herzfeld Advisors, Inc., founded in 1984, is an SEC registered investment advisor, specializing in investment analysis and account management in closed-end funds.

    More information about the advisor can be found at www.herzfeld.com.

    Past performance is no guarantee of future performance. An investment in the Fund is subject to certain risks, including market risk. In general, shares of closed-end funds often trade at a discount from their net asset value and at the time of sale may be trading on the exchange at a price which is more or less than the original purchase price or the net asset value. An investor should carefully consider the Fund’s investment objective, risks, charges and expenses. Please read the Fund’s disclosure documents before investing.

    Forward-Looking Statements

    This press release, and other statements that TJHA or the Fund may make, may contain forward looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to the Fund’s or TJHA’s future financial or business performance, strategies or expectations. Forward-looking statements are typically identified by words or phrases such as “trend,” “potential,” “opportunity,” “pipeline,” “believe,” “comfortable,” “expect,” “anticipate,” “current,” “intention,” “estimate,” “position,” “assume,” “outlook,” “continue,” “remain,” “maintain,” “sustain,” “seek,” “achieve,” and similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,” “may” or similar expressions. TJHA and the Fund caution that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made, and TJHA and the Fund assume no duty to and do not undertake to update forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements and future results could differ materially from historical performance. With respect to the Fund, the following factors, among others, could cause actual events to differ materially from forward-looking statements or historical performance: (1) changes and volatility in political, economic or industry conditions, particularly with respect to Cuba and other Caribbean Basin countries, the interest rate environment, foreign exchange rates or financial and capital markets, which could result in changes in demand for the Fund or in the Fund’s net asset value; (2) the relative and absolute investment performance of the Fund and its investments; (3) the impact of increased competition; (4) the unfavorable resolution of any legal proceedings; (5) the extent and timing of any distributions or share repurchases; (6) the impact, extent and timing of technological changes; (7) the impact of legislative and regulatory actions and reforms, including the Dodd-Frank Wall Street Reform and Consumer Protection Act, and regulatory, supervisory or enforcement actions of government agencies relating to the Fund or TJHA, as applicable; (8) terrorist activities, international hostilities and natural disasters, which may adversely affect the general economy, domestic and local financial and capital markets, specific industries or TJHA or the Fund; (9) TJHA’s and the Fund’s ability to attract and retain highly talented professionals; (10) the impact of TJHA electing to provide support to its products from time to time; (11) the impact of problems at other financial institutions or the failure or negative performance of products at other financial institutions; and (12) the effects of an epidemic, pandemic or public health emergency, including without limitation, COVID-19. Annual and Semi-Annual Reports and other regulatory filings of the Fund with the SEC are accessible on the SEC’s website at www.sec.gov and on TJHA’s website at www.herzfeld.com/cuba, and may discuss these or other factors that affect the Fund. The information contained on TJHA’s website is not a part of this press release.

    TJHA has received certain nominations or awards by third-parties as reflected herein. Investors should review the criteria for each nomination or award as reflected on the third-party’s webpage. In addition, the nominations and awards reflect past performance of the nominee or award designee and may not reflect the current performance or status of any such firm or individual and may no longer be applicable. Morningstar award content presented with permission and licensing fee. Contact us for more information on how the ratings are apportioned and for full disclosures regarding third party news and awards.

    Contact:
    Thomas Morgan
    Chief Compliance Officer
    The Herzfeld Caribbean Basin Fund, Inc.
    1-305-777-1660

    The MIL Network –

  • MIL-OSI: The Herzfeld Caribbean Basin Fund, Inc. Announces Results of Special Meeting of Stockholders; Approval of Conversion of Fund to CLO Equity Strategy

    Source: GlobeNewswire (MIL-OSI)

    MIAMI BEACH, FLA., June 18, 2025 (GLOBE NEWSWIRE) — The Herzfeld Caribbean Basin Fund, Inc. (NASDAQ: CUBA) (the “Fund”) today announced that the Fund’s Stockholders have approved the Fund’s conversion from its current investment strategy to focus on a “CLO Equity Strategy”. The approval was voted for at a Special Meeting of Stockholders held on June 17, 2025, with approximately 96% of the votes cast in favor of the changes.

    With this change, the Fund’s primary investment objective will change to a total return strategy with a secondary objective of generating high current income for stockholders. In accordance with the change in investment objective, the Fund will focus on investing in equity and junior debt tranches of collateralized loan obligations, or “CLOs”. CLOs are portfolios of collateralized loans consisting primarily of below investment grade U.S. senior secured loans with a large number of distinct underlying borrowers across various industry sectors.

    The three proposals approved by the Fund’s stockholders at the special meeting were:

    • Proposal 1: approval of an amended and restated investment advisory agreement between the Fund and Thomas J. Herzfeld Advisors, Inc. (the “Adviser”) to permit the Adviser to receive a fee based on “managed assets” and an incentive fee.
    • Proposal 2: approval to revise the Fund’s investment objective from obtaining “long term capital appreciation” to a primary objective of “maximizing risk adjusted total returns” with a secondary objective of “generating high current income;” and to reclassify the Fund’s investment objective as non-fundamental.
    • Proposal 3: approval to amend the fundamental policies of the Fund related to borrowing, the issuance of senior securities, underwriting securities issued by other persons, industry concentration, the purchase or sale of real estate, the purchase or sale of commodities, and making loans to other persons.

    The changes approved by the Fund’s Stockholders will go into effect July 1, 2025.

    Cecilia Gondor, Chairperson of the Fund’s Board of Directors commented: “This marks an important day in the long history of our Fund and the beginning of what we hope is a bright future for our Fund investors. I want to thank my fellow board members and our Chairman Emeritus, Tom Herzfeld, for the hard work that was undertaken in managing this transition.”

    About Thomas J. Herzfeld Advisors, Inc.

    Thomas J. Herzfeld Advisors, Inc., founded in 1984, is an SEC registered investment advisor, specializing in investment analysis and account management in closed-end funds.

    More information about the advisor can be found at www.herzfeld.com.

    Past performance is no guarantee of future performance. An investment in the Fund is subject to certain risks, including market risk. In general, shares of closed-end funds often trade at a discount from their net asset value and at the time of sale may be trading on the exchange at a price which is more or less than the original purchase price or the net asset value. An investor should carefully consider the Fund’s investment objective, risks, charges and expenses. Please read the Fund’s disclosure documents before investing.

    Forward-Looking Statements

    This press release, and other statements that TJHA or the Fund may make, may contain forward looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to the Fund’s or TJHA’s future financial or business performance, strategies or expectations. Forward-looking statements are typically identified by words or phrases such as “trend,” “potential,” “opportunity,” “pipeline,” “believe,” “comfortable,” “expect,” “anticipate,” “current,” “intention,” “estimate,” “position,” “assume,” “outlook,” “continue,” “remain,” “maintain,” “sustain,” “seek,” “achieve,” and similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,” “may” or similar expressions. TJHA and the Fund caution that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made, and TJHA and the Fund assume no duty to and do not undertake to update forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements and future results could differ materially from historical performance. With respect to the Fund, the following factors, among others, could cause actual events to differ materially from forward-looking statements or historical performance: (1) changes and volatility in political, economic or industry conditions, particularly with respect to Cuba and other Caribbean Basin countries, the interest rate environment, foreign exchange rates or financial and capital markets, which could result in changes in demand for the Fund or in the Fund’s net asset value; (2) the relative and absolute investment performance of the Fund and its investments; (3) the impact of increased competition; (4) the unfavorable resolution of any legal proceedings; (5) the extent and timing of any distributions or share repurchases; (6) the impact, extent and timing of technological changes; (7) the impact of legislative and regulatory actions and reforms, including the Dodd-Frank Wall Street Reform and Consumer Protection Act, and regulatory, supervisory or enforcement actions of government agencies relating to the Fund or TJHA, as applicable; (8) terrorist activities, international hostilities and natural disasters, which may adversely affect the general economy, domestic and local financial and capital markets, specific industries or TJHA or the Fund; (9) TJHA’s and the Fund’s ability to attract and retain highly talented professionals; (10) the impact of TJHA electing to provide support to its products from time to time; (11) the impact of problems at other financial institutions or the failure or negative performance of products at other financial institutions; and (12) the effects of an epidemic, pandemic or public health emergency, including without limitation, COVID-19. Annual and Semi-Annual Reports and other regulatory filings of the Fund with the SEC are accessible on the SEC’s website at www.sec.gov and on TJHA’s website at www.herzfeld.com/cuba, and may discuss these or other factors that affect the Fund. The information contained on TJHA’s website is not a part of this press release.

    TJHA has received certain nominations or awards by third-parties as reflected herein. Investors should review the criteria for each nomination or award as reflected on the third-party’s webpage. In addition, the nominations and awards reflect past performance of the nominee or award designee and may not reflect the current performance or status of any such firm or individual and may no longer be applicable. Morningstar award content presented with permission and licensing fee. Contact us for more information on how the ratings are apportioned and for full disclosures regarding third party news and awards.

    Contact:
    Thomas Morgan
    Chief Compliance Officer
    The Herzfeld Caribbean Basin Fund, Inc.
    1-305-777-1660

    The MIL Network –

  • MIL-OSI: KDSA Investment Partners Acquires Williams Distributors

    Source: GlobeNewswire (MIL-OSI)

    SPOKANE, Wash., June 18, 2025 (GLOBE NEWSWIRE) — KDSA Investment Partners (“KDSA”), a food and beverage-focused investment firm, announced today that it has acquired Spokane-based Williams Distributors (“Williams”), the leading direct-store-delivery (“DSD”) distributor of ice cream, frozen pizza and frozen foods in the Northwest. The transaction marks a significant milestone for both companies and a major step forward in KDSA’s strategy to build a rapidly growing and scaled independent DSD platform. The investment was completed in partnership with Greyrock Capital Group.

    Founded in 1992 by Roger Williams and led for the past six years by his son, Tony Williams, Williams operates a full-service DSD distribution network across Eastern Washington, Montana, Idaho, Northeast Oregon, and Northern Wyoming. The company services over 2,000 customer locations, including regional grocers, convenience stores, and independent retailers.

    “This is a major step forward for KDSA,” said David Knopf, Co-Managing Partner of KDSA and new Chaiman of Williams Distributors. “Williams has built a terrific business grounded in customer service and trust, reliability and strong supplier partnerships. It’s a great fit with our long-term vision, and we’re excited to support the team in this next phase of growth.”

    As part of the transition, Tim Valdez, an Operating Partner at KDSA, has been named CEO of Williams. A seasoned DSD executive, Valdez previously served as President of Cold Front Distribution. Tony Williams, who has successfully served the company for over two decades, will remain President through the end of the year and continue as a strategic advisor and brand ambassador.

    “I’m incredibly proud of what we’ve built at Williams,” said Tony Williams, former owner and current President. “We’ve spent decades earning trust in our markets by focusing on best-in-class, flawless customer service. KDSA shares that same mindset. With their support and under Tim’s leadership, I’m confident the business will continue to thrive for years to come.”

    “Williams is a standout operation with a great team and a loyal customer base,” added Tim Valdez, incoming CEO. “We’re stepping into a very strong position with significant opportunity ahead. Our focus will be on maintaining exceptional service while expanding our reach and capabilities across the region.”

    The acquisition underscores KDSA’s commitment to partnering with founder-led and family-owned businesses that combine deep local roots with long-term potential. KDSA plans to support Williams through ongoing infrastructure investments, talent expansion, and targeted organic and inorganic growth across the Northwest and Mountain West.

    Greenberg Traurig served as legal counsel to KDSA. Witherspoon Brajcich McPhee served as legal advisor to Williams.

    About Williams Distributors
    Founded in 1992 by Roger Williams, Williams Distributors is the largest independent, full-service direct-store-delivery (DSD) provider of frozen food products in the Northwest. The company operates across Eastern Washington, Northeast Oregon, Idaho, Montana, and Northern Wyoming, serving more than 2,000 customer locations. Williams is known for its strong customer relationships, reliable service, and exclusive distribution partnerships with leading frozen food brands.

    About KDSA Investment Partners
    KDSA Investment Partners is a private investment firm focused on acquiring and growing founder-led and family-owned businesses in the food and beverage industry. The firm combines deep operational expertise, sector-specific investing experience, and a network of experienced operators to support long-term, sustainable growth in its portfolio companies. For more information, visit www.kdsapartners.com.

    About Greyrock Capital Group
    Since 2002, Greyrock has invested subordinated debt and equity in over 85 companies across a broad range of industries in partnership with equity sponsors and management teams. Greyrock currently invests out of its sixth independent fund and has offices in Chicago, IL, Walnut Creek, CA and the New York metro area. For more information, visit www.greyrockcapitalgroup.com

    For inquiries, please contact:
    David Knopf
    Co-Managing Partner, KDSA
    dknopf@kdsapartners.com

    The MIL Network –

  • MIL-OSI: KDSA Investment Partners Acquires Williams Distributors

    Source: GlobeNewswire (MIL-OSI)

    SPOKANE, Wash., June 18, 2025 (GLOBE NEWSWIRE) — KDSA Investment Partners (“KDSA”), a food and beverage-focused investment firm, announced today that it has acquired Spokane-based Williams Distributors (“Williams”), the leading direct-store-delivery (“DSD”) distributor of ice cream, frozen pizza and frozen foods in the Northwest. The transaction marks a significant milestone for both companies and a major step forward in KDSA’s strategy to build a rapidly growing and scaled independent DSD platform. The investment was completed in partnership with Greyrock Capital Group.

    Founded in 1992 by Roger Williams and led for the past six years by his son, Tony Williams, Williams operates a full-service DSD distribution network across Eastern Washington, Montana, Idaho, Northeast Oregon, and Northern Wyoming. The company services over 2,000 customer locations, including regional grocers, convenience stores, and independent retailers.

    “This is a major step forward for KDSA,” said David Knopf, Co-Managing Partner of KDSA and new Chaiman of Williams Distributors. “Williams has built a terrific business grounded in customer service and trust, reliability and strong supplier partnerships. It’s a great fit with our long-term vision, and we’re excited to support the team in this next phase of growth.”

    As part of the transition, Tim Valdez, an Operating Partner at KDSA, has been named CEO of Williams. A seasoned DSD executive, Valdez previously served as President of Cold Front Distribution. Tony Williams, who has successfully served the company for over two decades, will remain President through the end of the year and continue as a strategic advisor and brand ambassador.

    “I’m incredibly proud of what we’ve built at Williams,” said Tony Williams, former owner and current President. “We’ve spent decades earning trust in our markets by focusing on best-in-class, flawless customer service. KDSA shares that same mindset. With their support and under Tim’s leadership, I’m confident the business will continue to thrive for years to come.”

    “Williams is a standout operation with a great team and a loyal customer base,” added Tim Valdez, incoming CEO. “We’re stepping into a very strong position with significant opportunity ahead. Our focus will be on maintaining exceptional service while expanding our reach and capabilities across the region.”

    The acquisition underscores KDSA’s commitment to partnering with founder-led and family-owned businesses that combine deep local roots with long-term potential. KDSA plans to support Williams through ongoing infrastructure investments, talent expansion, and targeted organic and inorganic growth across the Northwest and Mountain West.

    Greenberg Traurig served as legal counsel to KDSA. Witherspoon Brajcich McPhee served as legal advisor to Williams.

    About Williams Distributors
    Founded in 1992 by Roger Williams, Williams Distributors is the largest independent, full-service direct-store-delivery (DSD) provider of frozen food products in the Northwest. The company operates across Eastern Washington, Northeast Oregon, Idaho, Montana, and Northern Wyoming, serving more than 2,000 customer locations. Williams is known for its strong customer relationships, reliable service, and exclusive distribution partnerships with leading frozen food brands.

    About KDSA Investment Partners
    KDSA Investment Partners is a private investment firm focused on acquiring and growing founder-led and family-owned businesses in the food and beverage industry. The firm combines deep operational expertise, sector-specific investing experience, and a network of experienced operators to support long-term, sustainable growth in its portfolio companies. For more information, visit www.kdsapartners.com.

    About Greyrock Capital Group
    Since 2002, Greyrock has invested subordinated debt and equity in over 85 companies across a broad range of industries in partnership with equity sponsors and management teams. Greyrock currently invests out of its sixth independent fund and has offices in Chicago, IL, Walnut Creek, CA and the New York metro area. For more information, visit www.greyrockcapitalgroup.com

    For inquiries, please contact:
    David Knopf
    Co-Managing Partner, KDSA
    dknopf@kdsapartners.com

    The MIL Network –

  • MIL-OSI: Red Cat Holdings Announces Closing of $46.75 Million Registered Direct Offering of Common Stock

    Source: GlobeNewswire (MIL-OSI)

    SAN JUAN, Puerto Rico, June 18, 2025 (GLOBE NEWSWIRE) — Red Cat Holdings, Inc. (Nasdaq: RCAT) (“Red Cat” or “Company”), a drone technology company integrating robotic hardware and software for military, government, and commercial operations, has successfully closed the previously announced registered direct offering with certain institutional investors for the purchase and sale of 6,448,276 shares of common stock resulting in gross proceeds of approximately $46.75 million, before deducting placement agent fees and other offering expenses. The offering closed on June 18, 2025.

    The Company intends to use net proceeds from the offering for general corporate and working capital purposes, including but not limited to operating expenditures related to its new unmanned surface vessel division.

    “We believe this financing positions Red Cat for significant growth in the drone industry and will accelerate our product development and production for our newly formed Unmanned Surface Vessels (USVs) division for the maritime autonomy market,” said Jeff Thompson, Founder, Chairman and Chief Executive Officer of Red Cat.

    Recent Operational Highlights

    • Expansion of our manufacturing capacity by moving the Edge 130 production to a new, larger facility that will produce 150 Edge 130s per month and is in process of doubling the Black Widow production capacity, enabling an eventual production of 1,000 per month.
    • We have been diligently working to identify top talent and manufacturing capacity for our USV division to meet end market demand for maritime applications.
    • Reiterate 2025 annual revenue guidance of $80 to $120 million for calendar year 2025, which consists of:
      • $25 to $65 million in SRR-related Black Widow sales
      • $25 million in Non-SRR Black Widow sales
      • $25 million in Edge 130 sales
      • $5m in Fang FPV sales

    Northland Capital Markets acted as the exclusive placement agent and Ladenburg Thalmann served as financial advisor for the transaction.

    The offering is being made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-283242), which was declared effective by the Securities and Exchange Commission (the “SEC”) on December 11, 2024. A final prospectus supplement and the accompanying prospectus relating to the registered direct offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov. Additionally, when available, electronic copies of the final prospectus supplement and the accompanying prospectus may be obtained, when available, from Northland Securities, Inc., 150 South Fifth Street, Suite 3300, Minneapolis, MN.

    This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, 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 Red Cat Holdings, Inc.

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

    Safe Harbor Forward-Looking Statements

    This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Such statements include, but are not limited to, statements relating to our intended use of proceeds from the offering, annual revenue guidance, future manufacturing capacities and future market demand. Forward-looking statements are based on Red Cat Holdings, Inc.’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” in the Form 10-KT filed with the Securities and Exchange Commission on March 31, 2025. Forward-looking statements contained in this announcement are made as of this date, and Red Cat Holdings, Inc. undertakes no duty to update such information except as required under applicable law.

    Contact:

    INVESTORS:
    E-mail: Investors@redcat.red

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

    The MIL Network –

  • MIL-OSI: Red Cat Holdings Announces Closing of $46.75 Million Registered Direct Offering of Common Stock

    Source: GlobeNewswire (MIL-OSI)

    SAN JUAN, Puerto Rico, June 18, 2025 (GLOBE NEWSWIRE) — Red Cat Holdings, Inc. (Nasdaq: RCAT) (“Red Cat” or “Company”), a drone technology company integrating robotic hardware and software for military, government, and commercial operations, has successfully closed the previously announced registered direct offering with certain institutional investors for the purchase and sale of 6,448,276 shares of common stock resulting in gross proceeds of approximately $46.75 million, before deducting placement agent fees and other offering expenses. The offering closed on June 18, 2025.

    The Company intends to use net proceeds from the offering for general corporate and working capital purposes, including but not limited to operating expenditures related to its new unmanned surface vessel division.

    “We believe this financing positions Red Cat for significant growth in the drone industry and will accelerate our product development and production for our newly formed Unmanned Surface Vessels (USVs) division for the maritime autonomy market,” said Jeff Thompson, Founder, Chairman and Chief Executive Officer of Red Cat.

    Recent Operational Highlights

    • Expansion of our manufacturing capacity by moving the Edge 130 production to a new, larger facility that will produce 150 Edge 130s per month and is in process of doubling the Black Widow production capacity, enabling an eventual production of 1,000 per month.
    • We have been diligently working to identify top talent and manufacturing capacity for our USV division to meet end market demand for maritime applications.
    • Reiterate 2025 annual revenue guidance of $80 to $120 million for calendar year 2025, which consists of:
      • $25 to $65 million in SRR-related Black Widow sales
      • $25 million in Non-SRR Black Widow sales
      • $25 million in Edge 130 sales
      • $5m in Fang FPV sales

    Northland Capital Markets acted as the exclusive placement agent and Ladenburg Thalmann served as financial advisor for the transaction.

    The offering is being made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-283242), which was declared effective by the Securities and Exchange Commission (the “SEC”) on December 11, 2024. A final prospectus supplement and the accompanying prospectus relating to the registered direct offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov. Additionally, when available, electronic copies of the final prospectus supplement and the accompanying prospectus may be obtained, when available, from Northland Securities, Inc., 150 South Fifth Street, Suite 3300, Minneapolis, MN.

    This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, 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 Red Cat Holdings, Inc.

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

    Safe Harbor Forward-Looking Statements

    This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Such statements include, but are not limited to, statements relating to our intended use of proceeds from the offering, annual revenue guidance, future manufacturing capacities and future market demand. Forward-looking statements are based on Red Cat Holdings, Inc.’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” in the Form 10-KT filed with the Securities and Exchange Commission on March 31, 2025. Forward-looking statements contained in this announcement are made as of this date, and Red Cat Holdings, Inc. undertakes no duty to update such information except as required under applicable law.

    Contact:

    INVESTORS:
    E-mail: Investors@redcat.red

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

    The MIL Network –

  • MIL-OSI: Trupanion Announces Winners of the Veterinary Appreciation Day™ Awards

    Source: GlobeNewswire (MIL-OSI)

    SEATTLE, June 18, 2025 (GLOBE NEWSWIRE) — In honor of Veterinary Appreciation Day on June 18, Trupanion, the leading provider of medical insurance for cats and dogs in North America, held its annual awards event to celebrate and recognize the veterinary community for their profound impact on the lives of pets and their families.

    This year, the awards program saw an incredible outpouring of gratitude across North America, receiving more than 47,000 public votes.

    From the thousands of nominees, just 12 winners were chosen based on their significant influence on their veterinary teams, pet parents, and the communities they serve.

    “This year’s record-breaking voter turnout shows how increasingly important veterinary teams throughout the U.S. and Canada are to pet parents, peers, and their broader communities,” said Margi Tooth, President and CEO of Trupanion. “Each of these professionals works tirelessly to keep pets healthy, making picking just twelve honorees from the thousands of talented nominees a truly difficult job. Today, we’re proud to acknowledge and celebrate their achievements.”

    In 2015, Trupanion established June 18 as Veterinary Appreciation Day to celebrate the veterinary community. The annual awards have since become a platform to honor the extraordinary and often unsung efforts of these professionals.

    Here are the 2025 Veterinary Appreciation Day Award Winners.

    United States

    US West

    Veterinarian of the Year

    • Winner: Yafen Zhen, DVM
    • Practice: VCA San Martin Animal Hospital | San Martin, CA


    Veterinary Professional of the Year

    • Winner: Marie Marquez, CSR
    • Practice: VCA Veterinary Care Animal Hospital | Albuquerque, NM


    US Midwest

    Veterinarian of the Year

    • Winner: Jeffrey Baranack, DVM
    • Practice: West Side Animal Hospital | Alliance, OH


    Veterinary Professional of the Year

    • Winner: Ezzy Mercado, CSR
    • Practice: Buffalo Grove Animal Hospital | Buffalo Grove, IL


    US Northeast

    Veterinarian of the Year

    • Winner: Katherine Wheeler, DVM
    • Practice: Back Bay Veterinary Clinic | Boston, MA


    Veterinary Professional of the Year

    • Winner: Maddie LeMarquand, Veterinary Assistant
    • Practice: Heart + Paw – Glen Mills | Glen Mills, PA


    US South

    Veterinarian of the Year

    • Winner: Caitlin Townes, DVM
    • Practice: Paulding Animal Clinic | Dallas, GA


    Veterinary Professional of the Year

    • Winner: Marissa Love, Firefighter, EMT
    • Practice: Country Oaks Animal Hospital | New Port Richey, FL


    Canada

    Canada West

    Veterinarian of the Year

    • Winner: Jody McMurray, DVM, BSc (Ag)
    • Practice: Heartland Veterinary Clinic | Airdrie, AB


    Veterinary Professional of the Year

    • Winner: Leah Penner, RVT, Practice Manager
    • Practice: Pacific Cat Clinic | Victoria, BC


    Canada East

    Veterinarian of the Year

    • Winner: Deirdra Johnson, DVM
    • Practice: CBS Animal Hospital | Conception Bay South, NL


    Veterinary Professional of the Year

    • Winner: Julie Dorney, BSc, RVT, CCRP, CCFT
    • Practice: Gilmour Road Veterinary Services | Puslinch, ON

    “Few professions embody as much compassion, empathy, and dedication as veterinary medicine,” stated Dr. Steve Weinrauch, Chief Veterinary and Product Officer at Trupanion. “While Trupanion celebrates our community daily, the Veterinary Appreciation Day Awards offer a unique platform for fellow professionals and pet parents to express their gratitude. On behalf of Trupanion, I commend these twelve distinguished winners for their unwavering commitment and incredible achievements.”

    Pet lovers everywhere are encouraged to visit vetappreciationday.trupanion.com to learn more about the 2025 winners.

    About Trupanion

    Trupanion is the leader in medical insurance for cats and dogs throughout the United States, Canada, Europe, and Australia with over 1,000,000 pets enrolled. For over two decades, Trupanion has given pet parents peace of mind so they can focus on their pet’s recovery, not financial stress. Trupanion is committed to providing pet parents with the highest value in pet medical insurance with unlimited payouts for the life of their pets. With its patented process, Trupanion is the only North American provider with the technology to pay veterinarians directly in seconds at the time of checkout. Trupanion is listed on NASDAQ under the symbol “TRUP”. The company was founded in 2000 and is headquartered in Seattle, WA. Trupanion policies are issued, in the United States, by its wholly owned insurance entity American Pet Insurance Company and, in Canada, by Accelerant Insurance Company of Canada or GPIC Insurance Company. Trupanion Australia is a partnership between Trupanion and Hollard Insurance Company. Policies are sold and administered in Canada by Canada Pet Health Insurance Services, Inc. dba Trupanion 309-1277 Lynn Valley Road, North Vancouver, BC V7J 0A2 and in the United States by Trupanion Managers USA, Inc. (CA license No. 0G22803, NPN 9588590). Canada Pet Health Insurance Services, Inc. is a registered damage insurance agency and claims adjuster in Quebec #603927. Trupanion Australia is a partnership between Trupanion and Hollard Insurance Company. For more information, please visit trupanion.com. 

    Contacts:

    Corporate Communications
    Corporate.Communications@trupanion.com

    The MIL Network –

  • MIL-OSI: Trupanion Announces Winners of the Veterinary Appreciation Day™ Awards

    Source: GlobeNewswire (MIL-OSI)

    SEATTLE, June 18, 2025 (GLOBE NEWSWIRE) — In honor of Veterinary Appreciation Day on June 18, Trupanion, the leading provider of medical insurance for cats and dogs in North America, held its annual awards event to celebrate and recognize the veterinary community for their profound impact on the lives of pets and their families.

    This year, the awards program saw an incredible outpouring of gratitude across North America, receiving more than 47,000 public votes.

    From the thousands of nominees, just 12 winners were chosen based on their significant influence on their veterinary teams, pet parents, and the communities they serve.

    “This year’s record-breaking voter turnout shows how increasingly important veterinary teams throughout the U.S. and Canada are to pet parents, peers, and their broader communities,” said Margi Tooth, President and CEO of Trupanion. “Each of these professionals works tirelessly to keep pets healthy, making picking just twelve honorees from the thousands of talented nominees a truly difficult job. Today, we’re proud to acknowledge and celebrate their achievements.”

    In 2015, Trupanion established June 18 as Veterinary Appreciation Day to celebrate the veterinary community. The annual awards have since become a platform to honor the extraordinary and often unsung efforts of these professionals.

    Here are the 2025 Veterinary Appreciation Day Award Winners.

    United States

    US West

    Veterinarian of the Year

    • Winner: Yafen Zhen, DVM
    • Practice: VCA San Martin Animal Hospital | San Martin, CA


    Veterinary Professional of the Year

    • Winner: Marie Marquez, CSR
    • Practice: VCA Veterinary Care Animal Hospital | Albuquerque, NM


    US Midwest

    Veterinarian of the Year

    • Winner: Jeffrey Baranack, DVM
    • Practice: West Side Animal Hospital | Alliance, OH


    Veterinary Professional of the Year

    • Winner: Ezzy Mercado, CSR
    • Practice: Buffalo Grove Animal Hospital | Buffalo Grove, IL


    US Northeast

    Veterinarian of the Year

    • Winner: Katherine Wheeler, DVM
    • Practice: Back Bay Veterinary Clinic | Boston, MA


    Veterinary Professional of the Year

    • Winner: Maddie LeMarquand, Veterinary Assistant
    • Practice: Heart + Paw – Glen Mills | Glen Mills, PA


    US South

    Veterinarian of the Year

    • Winner: Caitlin Townes, DVM
    • Practice: Paulding Animal Clinic | Dallas, GA


    Veterinary Professional of the Year

    • Winner: Marissa Love, Firefighter, EMT
    • Practice: Country Oaks Animal Hospital | New Port Richey, FL


    Canada

    Canada West

    Veterinarian of the Year

    • Winner: Jody McMurray, DVM, BSc (Ag)
    • Practice: Heartland Veterinary Clinic | Airdrie, AB


    Veterinary Professional of the Year

    • Winner: Leah Penner, RVT, Practice Manager
    • Practice: Pacific Cat Clinic | Victoria, BC


    Canada East

    Veterinarian of the Year

    • Winner: Deirdra Johnson, DVM
    • Practice: CBS Animal Hospital | Conception Bay South, NL


    Veterinary Professional of the Year

    • Winner: Julie Dorney, BSc, RVT, CCRP, CCFT
    • Practice: Gilmour Road Veterinary Services | Puslinch, ON

    “Few professions embody as much compassion, empathy, and dedication as veterinary medicine,” stated Dr. Steve Weinrauch, Chief Veterinary and Product Officer at Trupanion. “While Trupanion celebrates our community daily, the Veterinary Appreciation Day Awards offer a unique platform for fellow professionals and pet parents to express their gratitude. On behalf of Trupanion, I commend these twelve distinguished winners for their unwavering commitment and incredible achievements.”

    Pet lovers everywhere are encouraged to visit vetappreciationday.trupanion.com to learn more about the 2025 winners.

    About Trupanion

    Trupanion is the leader in medical insurance for cats and dogs throughout the United States, Canada, Europe, and Australia with over 1,000,000 pets enrolled. For over two decades, Trupanion has given pet parents peace of mind so they can focus on their pet’s recovery, not financial stress. Trupanion is committed to providing pet parents with the highest value in pet medical insurance with unlimited payouts for the life of their pets. With its patented process, Trupanion is the only North American provider with the technology to pay veterinarians directly in seconds at the time of checkout. Trupanion is listed on NASDAQ under the symbol “TRUP”. The company was founded in 2000 and is headquartered in Seattle, WA. Trupanion policies are issued, in the United States, by its wholly owned insurance entity American Pet Insurance Company and, in Canada, by Accelerant Insurance Company of Canada or GPIC Insurance Company. Trupanion Australia is a partnership between Trupanion and Hollard Insurance Company. Policies are sold and administered in Canada by Canada Pet Health Insurance Services, Inc. dba Trupanion 309-1277 Lynn Valley Road, North Vancouver, BC V7J 0A2 and in the United States by Trupanion Managers USA, Inc. (CA license No. 0G22803, NPN 9588590). Canada Pet Health Insurance Services, Inc. is a registered damage insurance agency and claims adjuster in Quebec #603927. Trupanion Australia is a partnership between Trupanion and Hollard Insurance Company. For more information, please visit trupanion.com. 

    Contacts:

    Corporate Communications
    Corporate.Communications@trupanion.com

    The MIL Network –

  • MIL-OSI: Canadian Life Companies Split Corp. Overnight Offering Announced

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, June 18, 2025 (GLOBE NEWSWIRE) — Canadian Life Companies Split Corp. (“the Company”) is pleased to announce it will undertake an offering of Preferred Shares (TSX: LFE.PR.B) and Class A Shares (TSX: LFE) of the Company. The offering will be led by National Bank Financial Inc.

    The sales period of this overnight offering will end at 9:00 a.m. EST on June 19, 2025. The offering is expected to close on or about June 26, 2025 and is subject to certain closing conditions including approval by the TSX.

    The Preferred Shares will be offered at a price of $10.55 per Preferred Share to yield 6.64% and the Class A Shares will be offered at a price of $6.35 per Class A Share to yield 18.90%.

    The closing price on the TSX of each of the Preferred Shares and Class A Shares on June 17, 2025 was $10.71 and $6.39, respectively.

    Since inception of the Company, the aggregate dividends declared on the Preferred Shares have been $12.44 per share and the aggregate dividends declared on the Class A Shares have been $9.15 per share, for a combined total of $21.59 per unit. All distributions paid to date have been made in tax advantage eligible Canadian dividends or capital gains dividends.

    The net proceeds of the offering will be used by the Company to invest in an actively managed portfolio primarily consisting of four publicly traded Canadian life insurance companies as follows: Great‐West Lifeco Inc., Industrial Alliance Insurance & Financial Services Inc., Manulife Financial Corporation and Sun Life Financial Inc.

    The Company’s investment objectives are:

    Preferred Shares:

    1. to provide holders of the Preferred Shares with fixed, cumulative preferential monthly cash dividends at a rate equal to the greater of: 7.00% OR Prime Rate plus 2% (max of 9%) annually based on the $10.00 original issue price, and;
    2. on or about December 1, 2030 (subject to further 6 year extensions), to pay the holders of the Preferred Shares the original $10 issue price of those shares.

    Class A Shares:

    1. to provide holders of the Class A Shares with regular monthly cash dividends as the directors of the Company may from time to time determine; and
    2. on or about December 1, 2030 (subject to further 6 year extensions), to pay the holders of Class A Shares such amounts as remain after paying the holders of the Preferred shares the amounts owing to them.


    A prospectus supplement to the Company’s short form base shelf prospectus dated May 1, 2024, containing important detailed information about the Preferred Shares and the Class A Shares being offered will be filed with securities commissions or similar authorities in all provinces of Canada. Copies of the prospectus supplement and the short form base shelf prospectus may be obtained from your registered financial advisor using the contact information for such advisor, or from representatives of the agents listed above. There will not be any sale or any acceptance of an offer to buy the securities being offered until the prospectus supplement has been filed with the Securities Commissions or similar authorities in each of the provinces of Canada.

    Investor Relations: 1-877-478-2372
    Local: 416-304-4443
    www.lifesplit.com
    info@quadravest.com  

    The MIL Network –

  • MIL-OSI: Talonvest Secures $17.8M in Financings for a Four-Property Portfolio

    Source: GlobeNewswire (MIL-OSI)

    NEWPORT BEACH, CA, June 18, 2025 (GLOBE NEWSWIRE) — Talonvest Capital, Inc., a boutique commercial real estate mortgage brokerage firm, is pleased to announce the successful closing of a $17,800,000 refinance loan on behalf of Tierra Corporation for a four-property self storage portfolio located across high-demand markets in Southern California and Arizona. The portfolio includes properties in Riverside, Redlands, and Indio, California, as well as Yuma, Arizona. In total, the facilities span 377,939 net rentable square feet and comprise 2,252 non-climate-controlled drive-up units, 25 climate-controlled units, 4 manager units, and 198 RV parking spaces.

    The non-recourse, CMBS execution loan was structured with a sub-6% fixed interest rate and 10 years of interest-only payments. Art Flaming, Principal of Tierra Corporation, commented, “Talonvest’s deep lender relationships and expert execution were critical in securing favorable terms in a shifting market environment.”

    The Talonvest team responsible for this assignment included Eric Snyder, Britt Taylor, Mason Brusseau, and Lauren Maehler.

    About Talonvest Capital Inc.

    Talonvest Capital is a commercial real estate advisory firm specializing in sourcing cutting-edge lending programs and advising on capital market trends for industrial, self-storage, multifamily, office, and retail property owners. Talonvest Capital offers a unique boutique approach by leveraging the company’s collective institutional knowledge and remaining highly engaged throughout the entire assignment, including the closing process, to deliver tailored capital solutions for their clients. Learn more at https://talonvest.com.

    Contact:
    Carole Stanley
    Talonvest Capital, Inc.
    949.251-9900
    cstanley@talonvest.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/463cc778-fc2a-4d2b-be7f-f34b2beddc9a

    The MIL Network –

  • MIL-OSI: Talonvest Secures $17.8M in Financings for a Four-Property Portfolio

    Source: GlobeNewswire (MIL-OSI)

    NEWPORT BEACH, CA, June 18, 2025 (GLOBE NEWSWIRE) — Talonvest Capital, Inc., a boutique commercial real estate mortgage brokerage firm, is pleased to announce the successful closing of a $17,800,000 refinance loan on behalf of Tierra Corporation for a four-property self storage portfolio located across high-demand markets in Southern California and Arizona. The portfolio includes properties in Riverside, Redlands, and Indio, California, as well as Yuma, Arizona. In total, the facilities span 377,939 net rentable square feet and comprise 2,252 non-climate-controlled drive-up units, 25 climate-controlled units, 4 manager units, and 198 RV parking spaces.

    The non-recourse, CMBS execution loan was structured with a sub-6% fixed interest rate and 10 years of interest-only payments. Art Flaming, Principal of Tierra Corporation, commented, “Talonvest’s deep lender relationships and expert execution were critical in securing favorable terms in a shifting market environment.”

    The Talonvest team responsible for this assignment included Eric Snyder, Britt Taylor, Mason Brusseau, and Lauren Maehler.

    About Talonvest Capital Inc.

    Talonvest Capital is a commercial real estate advisory firm specializing in sourcing cutting-edge lending programs and advising on capital market trends for industrial, self-storage, multifamily, office, and retail property owners. Talonvest Capital offers a unique boutique approach by leveraging the company’s collective institutional knowledge and remaining highly engaged throughout the entire assignment, including the closing process, to deliver tailored capital solutions for their clients. Learn more at https://talonvest.com.

    Contact:
    Carole Stanley
    Talonvest Capital, Inc.
    949.251-9900
    cstanley@talonvest.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/463cc778-fc2a-4d2b-be7f-f34b2beddc9a

    The MIL Network –

  • MIL-OSI: Alaris Equity Partners Income Trust Declares Q2 Distribution

    Source: GlobeNewswire (MIL-OSI)

    NOT FOR DISTRIBUTION IN THE UNITED STATES.
    FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAW.

    CALGARY, Alberta, June 18, 2025 (GLOBE NEWSWIRE) — Alaris Equity Partners Income Trust (“Alaris” or the “Trust”) (TSX: AD.UN) announces that the Board of Trustees of the Trust (the “Board”) has declared a trust distribution (“Distribution”) of $0.34 per trust unit for the second quarter of 2025, representing $1.36 per unit on an annualized basis. The Distribution is payable on July 15, 2025 to unitholders of record on June 30, 2025.

    About Alaris:
    The Trust, through its subsidiaries, invests in a diversified group of private businesses (“Private Company Partners“) primarily through structured equity. The primary goal of our structured equity investments is to deliver stable and predictable returns to our unitholders through both cash distributions and capital appreciation. This strategy is enhanced by common equity positions, which allow us to generate returns in alignment with the founders of our Private Company Partners.

    For further information please contact:
    Investor Relations
    P: (403) 260-1457
    ir@alarisequity.com

    Alaris Equity Partners Income Trust
    Suite 250, 333 24th Avenue S.W.
    Calgary, Alberta T2S 3E6
    www.alarisequitypartners.com

    The MIL Network –

  • MIL-OSI: Credit Unions Sound the Alarm on Student Loan Procrastination — Urge Families to Lock in Flexible Line of Credit Before Fall Deadlines

    Source: GlobeNewswire (MIL-OSI)

    Washington, DC, June 18, 2025 (GLOBE NEWSWIRE) — CU Student Choice, a leading provider of education financing solutions, is renewing its nationwide outreach to help students and families avoid last-minute borrowing pitfalls and long-term debt. Backed by a network of more than 200 credit union partners, the flexible, multi-year education line of credit offers a smart, reusable alternative to traditional private student loans, just as tuition deadlines loom and financial decisions become most critical.

    Flexible Education Line of Credit

    The initiative, offered through the Student Choice platform, aims to give families an alternative to traditional private student loans, which often force borrowers to guess their total cost of attendance upfront and reapply every year.

    “Many families wait until the last minute and feel forced into taking whatever loan they can get,” said Rich Kump, President and CEO, UMassFive College Federal Credit Union. “This approach creates stress and leads to overborrowing. Our education line of credit removes that pressure by providing a reusable safety net so students can borrow as needed, when needed.”

    A Safety Net, Not a Sales Pitch

    Unlike most private loans that lock borrowers into one lump-sum loan amount year by year, the Student Choice model allows you to draw on funds over multiple academic years* That means students can adjust borrowing based on scholarships, financial aid, or changes in academic plans — avoiding interest on funds they do not need. Even if students don’t plan to borrow right away, having the line of credit in place gives them a financial safety net they can tap into if or when it’s needed. The credit union-backed program also offers:

    • One-time application for multiple years of borrowing*
    • No origination fees or prepayment penalties
    • Support from real credit union representatives
    • Repayment terms of up to 25 years for affordability

    This unique model has already helped 132,000 families finance their college education more confidently and has recently been expanded to support more than 2,000 colleges and universities.

    A Timely Warning for Procrastinators

    A recent report from Sallie Mae shows that more than 50% of families wait until July or later to finalize student financing — often leading to rushed decisions and higher loan balances. Traditional private loans, often promoted through paid aggregator sites, do not always provide the flexibility or transparency needed for smart borrowing decisions.

    “We built this program for families who don’t want to overborrow but also can’t afford to wait,” said Kump. “It’s not about pushing debt. It’s about doing the right thing and putting students in control.”

    Rising Awareness Amid Growing Concern

    As federal student loan headlines dominate the news, from stalled forgiveness debates to rising interest rates on new federal loans – families are facing a confusing and often frustrating borrowing environment. Many students don’t realize until it’s too late that federal loans alone may not cover the full cost of attendance, and traditional private loans often lead with unobtainable, low teaser rates, rigid terms, and limited protections.

    Amid this uncertainty, credit unions are stepping up. Backed by decades of member-first values, these not-for-profit institutions are offering a smarter, more transparent alternative – one that’s designed around flexibility, and long-term financial wellness. With an education line of credit, students and families can secure funding without being forced into borrowing more than they need, offering a calmer path forward during an increasingly chaotic time.

    * Subject to credit approval and annual review. Must meet the school’s Satisfactory Academic Progress (SAP) requirements.

    About CU Student Choice

    CU Student Choice is a credit union service organization (CUSO) that helps credit unions strengthen their role in education finance. Through private loan solutions and borrower education, Student Choice enables institutions to offer fair, flexible student lending that meets real-world needs. Since 2008, more than 132,000 families have accessed funding through Student Choice credit union partners. To learn more, visit StudentChoice.org. NMLS #2123582

    Press inquiries

    CU Student Choice
    https://www.StudentChoice.org
    Mike Weber
    mweber@studentchoice.org
    563-599-1193
    1001 Connecticut Avenue NW, Suite 1001, Washington, DC 20036

    The MIL Network –

  • MIL-OSI: XRP Will Account for 14% of SWIFT’S Transaction Volume; PFM CRYPTO Launches Cloud Mining Contracts for XRP Holders; XRP User Base Surges 360%

    Source: GlobeNewswire (MIL-OSI)

    LOS ANGELES, June 18, 2025 (GLOBE NEWSWIRE) — Liquidity solution has become a focal point of Ripple’s long-term vision. Affirming this, the Ripple CEO predicted that XRP may account for 14% of SWIFT’s global transaction volume at the XRP APEX 2025 conference in Singapore.

    This bold assertion reflects Ripple’s internal desire to use crypto-based liquidity to challenge traditional financial tracks. To support this liquidity-driven solution, PFM Crypto, a leading Cryptocurrency mining platform, launched a 2-day XRP mining contract aimed to inject more XRP into circulation, making the digital asset more accessible to everyday users.

    Click to view PFMCrypto homepage: https://pfmcrypto.net

    “Ripple’s bold assertion sets the tone for the future of decentralized finance, and we are here to align our platform’s offering with that vision by offering users an easy way to mine XRP and contribute to crypto liquidity in general.” said PFMCrypto CEO

    What Is PFMCrypto’s XRP Cloud Mining?
    PFMCrypto cloud mining is a remote cryptocurrency mining solution that supports a wide range of digital assets, including XRP. Users tap into PFMCrypto’s robust computing power to earn profits—without needing to buy mining hardware or manage technical maintenance. By lowering the threshold for mining XRP, PFM Crypto’s 2-day mining contract will directly promote the efficient development of the XRP ecosystem.

    Cryptocurrency mining remains one of the most cost-effective ways to gain value from cryptocurrency assets without users having to bear losses from price fluctuations. Compared to direct purchase, PFM Crypto’s mining model offers a low-risk, low-cost alternative for users interested in entering the XRP ecosystem.

    Get on the PFM Crypto 2-day XRP Mining Plan for Fast, Affordable, and Rewarding Cloud Mining.
    The newly launched 2-day XRP mining contract on PFM Crypto gives crypto miners an instant 24-hour reward – offering new users and crypto enthusiasts a lower barrier entry into cloud mining for as little as $10.

    On PFM Crypto, users get to earn XRP in real-time without the hassle of setting up the hardware or getting the technical knowledge required to manage it – just a secure and easy way to earn XRP. Additionally, the platform also gives new users a whopping $10 welcome bonus with which to start mining.

    Click here to register and claim your $10 welcome bonus.

    Why does PFM Crypto Lead the XRP Cloud Mining?
    While several protocols now offer XRP cloud mining service, PFM Crypto is set apart as the most trusted XRP mining platform in the space. With over 9.2 million users, crypto enthusiasts are reaping rewards every day without restriction.
    Two Things that Set PFM Crypto Offers Apart:
    1. Highest mining rewards: Unlike other platforms where users are subjected to hidden fees that eat deep into their earnings, PFM Crypto guarantees a transparent system that ensures maximum reward for your mining efforts.
    2. Instant withdrawal: Withdrawal is available 24/7 from the moment you join and start earning. Your rewards don’t just accumulate; it is accessible, too.

    Cloud Mining Contract Strategy: Powered by Real Results
    With the launch of the 2-day XRP contract, PFMCrypto is opening its high-performance cloud mining infrastructure to the public—free to access. Since its founding in 2018, the platform has expanded to over 9.2 million active users across 192 countries and regions, delivering exceptional results:
    2-Day Strategy: +6.6% return
    5-Day Strategy: +6.15% return
    15-Day Strategy: +20.7% return
    30-Day Strategy: +55.6% return
    These performance figures are not forecasts—they reflect real-world results from millions of users. This is made possible by PFMCrypto’s AI-powered profit optimization and results-focused mining model.

    Click here to view the full mining contract catalog.

    How to get started on the most trusted Cloud Mining platform in 2025
    1. Sign up on PC or mobile device here
    2. Receive a free $10 welcome bonus
    3. Active the first free cloud computing power with the bonus
    4. See a breakdown of your expected earnings and monitor rewards using its real-time analytical tool
    5. Access your free withdrawal anytime

    About PFMCrypto
    Founded in 2018, PFMCrypto represents a new generation of AI-driven cloud mining, built on data, performance, and trust. With a rapidly growing global user base, PFMCrypto stands out as one of the most promising crypto investment opportunities of the year—especially for investors seeking sustainable, long-term returns over speculation.
    Full details and participation: https://pfmcrypto.net

    Media Contact:

    Amelia Elspeth
    PFMcrypto
    info@pfmcrypto.net

    Photos accompanying this announcement are available at

    https://www.globenewswire.com/NewsRoom/AttachmentNg/29bdd0f1-4894-4e8a-8a6f-4a34608eb729

    https://www.globenewswire.com/NewsRoom/AttachmentNg/24b59cd5-ef80-4b28-a20c-58efbc27da32

    The MIL Network –

  • MIL-OSI: Landis+Gyr Optimizes Total Cost of Ownership with Tessell on Google Cloud Platform as Its Digital Backbone for Smart Metering Applications

    Source: GlobeNewswire (MIL-OSI)

    SAN JOSE, Calif., June 18, 2025 (GLOBE NEWSWIRE) —  Landis+Gyr, a leading global provider of integrated energy management solutions, has successfully optimized its total cost of ownership (TCO) and scaled its operations by migrating mission-critical Oracle workloads to Google Cloud Platform (GCP) with Tessell as its digital backbone. The initiative has empowered Landis+Gyr to modernize its infrastructure, improve real-time data processing, and deliver more intelligent energy solutions to utility customers worldwide.

    Operating across more than 30 countries, Landis+Gyr manages millions of smart meters that help utilities optimize grid performance and improve energy efficiency. Facing a surge in global energy demand and a growing need for real-time grid intelligence, Landis+Gyr recognized the urgency to migrate from legacy, on-premises systems to a more scalable, cloud-native environment.

    However, the migration of complex Oracle workloads—particularly Oracle Head End System (HES) and Meter Data Management (MDM) applications—posed a significant challenge. These systems were running on a Windows-based infrastructure that incurred high licensing costs, performance bottlenecks, and limited scalability.

    The Tessell-GCP Advantage

    Partnering with Tessell, Landis+Gyr executed a cross-platform migration from Windows to Linux while transitioning to GCP’s flexible, high-performance cloud infrastructure. Tessell’s Database-as-a-Service (DBaaS) platform enabled seamless migration of Oracle workloads, delivering:

    • Real-time data ingestion with sub-second latency
    • Over 99.99% application availability
    • 50% reduction in infrastructure costs
    • 60% labor efficiency gains for database administrators
    • Compliance with data residency regulations across regions

    “Tessell’s ability to execute complex Oracle migrations with precision allowed us to unlock significant operational and financial value,” said Martti Kontula, Head of OT & Data at Landis+Gyr. “Our smart metering applications now run with greater agility, enabling us to deliver better insights and services to our customers while setting the foundation for long-term growth.”

    Proof-of-Concept Validates Business Impact

    Before full implementation, Tessell executed a proof-of-concept (PoC) on GCP that validated the benefits of moving to a Linux-based system. The PoC confirmed that Landis+Gyr could meet demanding performance benchmarks including real-time smart meter data ingestion, system uptime, and throughput at scale.

    Transformative Outcomes

    • Increased scalability: GCP’s elastic infrastructure now supports the ingestion and processing of data from millions of smart meters, ensuring responsiveness during peak load times.
    • Reduced licensing and support costs: Transitioning from Windows to Linux eliminated unnecessary licensing fees and reduced maintenance overhead.
    • Streamlined operations: Automation of patching, updates, and lifecycle management freed up internal teams to focus on high-value innovation and analytics.
    • On-time data center exit: Landis+Gyr remains on track to fully decommission its legacy data centers, embracing a scalable cloud-first model.

    Landis+Gyr will continue working with Tessell to strengthen its high availability (HA) and disaster recovery (DR) capabilities, including:

    • Multi-zone, multi-region HA architecture on GCP
    • Automated cross-region DR with minimal data loss
    • Industry-compliant business continuity planning

    “With Tessell’s robust cloud platform and GCP’s global scale, Landis+Gyr is well-positioned to meet the rising demands of the energy sector while supporting its mission of creating a more sustainable and intelligent energy future,” said Bakul Banthia, Co-Founder of Tessell.

    For more information about Tessell and its DBaaS solutions, visit https://www.tessell.com/.

    About Tessell
    Tessell is a multi-cloud DBaaS platform redefining enterprise data management with its comprehensive suite of AI-powered database services. By unifying operational and analytical data within a seamless data ecosystem, Tessell enables enterprises to modernize databases, optimize cloud economics, and drive intelligent decision-making at scale. Through AI and Conversational Data Management (CoDaM), Tessell makes data more accessible, interactive, and intuitive, empowering businesses to harness their data’s full potential easily.

    About Landis+Gyr
    Landis+Gyr is a leading global provider of integrated energy management solutions. We measure and analyze energy utilization to generate empowering analytics for smart grid and infrastructure management, enabling utilities and consumers to reduce energy consumption. Our innovative and proven portfolio of software, services and intelligent sensor technology is a key driver to decarbonize the grid. Having avoided 9 million tons of CO2 in FY 2024, Landis+Gyr manages energy better – since 1896. With sales of USD 1.7 billion in FY 2024, Landis+Gyr employs around 6,300 talented people across five continents. For more information, please visit our website www.landisgyr.com.

    Media Contact
    Len Fernandes
    Firecracker PR for Tessell
    len@firecrackerpr.com

    The MIL Network –