Category: GlobeNewswire

MIL-OSI: Wix Reports First Quarter 2025 Results

Source: GlobeNewswire (MIL-OSI)

Strong start to year with Q1’25 total bookings of $511 million, up 12% y/y, with very robust top of funnel demand in the quarter and new cohort strength continuing through April and early May
Q1’25 total revenue of $474 million exceeded expectations, up 13% y/y, driven by accelerating Self Creators growth accompanied by solid Partners momentum as Studio adoption continued to ramp healthily
Launched Wixel, a new standalone AI-powered visual design platform that brings the most advanced creative tools into a single intuitive interface and puts complete visual editing control into the hands of everyone – marking Wix’s milestone foray into creation beyond websites
Achieved FCF margin of 30% in Q1’25 as we continued to maintain a resilient operating cost structure amidst robust top-line performance
Increased share repurchase board authorization to a total of $400 million under current program

NEW YORK — Wix.com Ltd. (Nasdaq: WIX) (the “Company”), the leading SaaS website builder platform¹, today reported financial results for the first quarter of 2025. In addition, the Company provided its outlook for the second quarter and an updated outlook for full year 2025. Please visit the Wix Investor Relations website at https://investors.wix.com to view the Q1’25 Shareholder Update and other materials.

“This year we are setting out to reimagine and expand the online creation experience and have set the bar high with the milestone release of Wixel, which I believe will democratize digital creation,” said Avishai Abrahami, Wix Co-founder and CEO. “We have been transforming web development since 2006 and are now organically extending our user-first design expertise, AI leadership and focus on accessibility to beyond websites. What you see today is the first version of our standalone next-gen visual design platform, representing the culmination of years of development in advanced design and AI and unifying the best models, intuitive UI, and powerful high-end features into one cohesive platform. Importantly, with Wixel, anyone, regardless of skill level, can now create beautiful visuals with just a few clicks. We have an ambitious roadmap for Wixel ahead and I’m excited to see how Wixel starts to reshape the design world.”

Lior Shemesh, CFO at Wix, added, “Our strong first quarter results demonstrate the critical value of the Wix platform to anyone and everyone requiring an online presence globally amid an ever evolving macro environment, particularly SMBs. Top of funnel demand was very strong with Q1’25 new user cohort bookings finishing 12% higher than the bookings generated by the Q1’24 cohort in its first quarter. This acceleration in new cohort growth was almost entirely driven by better fundamentals, particularly an increased number of users, as well as product innovation. Encouragingly, these strong cohort trends have continued through April and early May, bolstering confidence in 2H bookings and revenue growth acceleration as additional cohorts layer on through the year. As a result of this new cohort strength and healthy existing user behavior, bookings grew a solid 12% y/y and revenue growth of 13% y/y finished above expectations in Q1. Durability was broad based across our segments with our Partners business delivering 24% y/y revenue growth, fueled by ongoing market share gains driven by Studio, as well as another consecutive quarter of Self Creators growth acceleration as AI continued to remove friction for more users in the website creation journey.”

Q1 2025 Financial Results

Total revenue in the first quarter of 2025 was $473.7 million, up 13% y/y
Creative Subscriptions revenue in the first quarter of 2025 was $337.7 million, up 11% y/y
- Creative Subscriptions ARR increased to $1.373 billion as of the end of the quarter, up 10% y/y
Business Solutions revenue in the first quarter of 2025 was $136.0 million, up 18% y/y
- Transaction revenue² was $58.9 million, up 19% y/y
Partners revenue³ in the first quarter of 2025 was $171.6 million, up 24% y/y
Total bookings in the first quarter of 2025 were $510.9 million, up 12% y/y
- Creative Subscriptions bookings in the first quarter of 2025 were $369.5 million, up 10% y/y
- Business Solutions bookings in the first quarter of 2025 were $141.4 million, up 15% y/y
Total gross margin on a GAAP basis in the first quarter of 2025 was 68%
- Creative Subscriptions gross margin on a GAAP basis was 83%
- Business Solutions gross margin on a GAAP basis was 30%
Total non-GAAP gross margin in the first quarter of 2025 was 69%
- Creative Subscriptions gross margin on a non-GAAP basis was 84%
- Business Solutions gross margin on a non-GAAP basis was 31%
GAAP net income in the first quarter of 2025 was $33.8 million, or $0.61 per basic share and $0.57 per diluted share
Non-GAAP net income in the first quarter of 2025 was $93.9 million, or $1.69 per basic share and $1.55 per diluted share
Net cash provided by operating activities for the first quarter of 2025 was $145.5 million, while capital expenditures totaled $3.1 million, leading to free cash flow of $142.4 million
In January, we completed $200 million of share repurchases, repurchasing 868,026 Wix ordinary shares in total at an approximate volume-weighted average price per share of $230.41
Total employee count at the end of Q1’25 was 5,275

Increase to Share Repurchase Program

Wix’s Board of Directors has authorized an increase to its program to repurchase the Company’s securities (ordinary shares and/or convertible notes) by an additional amount of up to $200 million, on top of the $200 million previously approved by the Board on February 26th, 2025 (which has not been used to date). This approval brings the repurchase authorization under the program to a total amount of up to $400 million.

____________________
^{1 Based on number of active live sites as reported by competitors’ figures, independent third-party data and internal data as of Q3 2024.}
^{2 Transaction revenue is a portion of Business Solutions revenue, and we define transaction revenue as all revenue generated through transaction facilitation, primarily from Wix Payments, as well as Wix POS, shipping solutions and multi-channel commerce and gift card solutions.}
^{3 Partners revenue is defined as revenue generated through agencies and freelancers that build sites or applications for other users (“Agencies”) as well as revenue generated through B2B partnerships, such as LegalZoom or Vistaprint (“Resellers”). We identify Agencies using multiple criteria, including but not limited to, the number of sites built, participation in the Wix Partner Program and/or the Wix Marketplace or Wix products used (incl. Wix Studio). Partners revenue includes revenue from both the Creative Subscriptions and Business Solutions businesses.}

Financial Outlook

Healthy first quarter results demonstrate impactful product innovation and disciplined execution of our key growth initiatives, including Studio, AI and our focus empowering Self Creators. Notably, new cohort strength remains robust through April and early May against a dynamic macro backdrop. We expect new cohort strength to continue and drive top-line growth acceleration in 2H as additional cohorts layer on throughout the year.

While we are encouraged by our strong Q1 results and robust top of funnel, we are maintaining full year bookings outlook of $2,025 – 2,060 million, up 11-13% y/y. This reflects conservatism due to macro uncertainty, specifically in our Business Solutions segment, with potential volatility offset by fully dissipating FX headwinds.

With these same considerations, we are also maintaining our full year revenue outlook of $1,970 – 2,000 million, up 12-14% y/y.

We expect total revenue in Q2 2025 to be $485 – 489 million, up 11-12% y/y.

For the full year 2025, we continue to expect non-GAAP total gross margin of ~70% and non-GAAP operating expenses to be 47-48% of revenue for the full year.

We continue to expect to generate free cash flow of $590 – 610 million, or ~30-31% of revenue.

As a result, we remain on track to achieve Rule of 45 in 2025 at the high end of our outlook.

Conference Call and Webcast Information

Wix will host a conference call to discuss the results at 8:30 a.m. ET on Wednesday, May 21st, 2025. A live and archived webcast of the conference call will be accessible from the “Investor Relations” section of the Company’s website at https://investors.wix.com/.

About Wix.com Ltd.

Wix is the leading SaaS website builder platform¹ to create, manage and grow a digital presence. Founded in 2006, Wix is a comprehensive platform providing users – self-creators, agencies, enterprises, and more – with industry-leading performance, security, AI capabilities and a reliable infrastructure. Offering a wide range of commerce and business solutions, advanced SEO and marketing tools, the platform enables users to take full ownership of their brand, their data and their relationships with their customers. With a focus on continuous innovation and delivery of new features and products, users can seamlessly build a powerful and high-end digital presence for themselves or their clients.

For more about Wix, please visit our Press Room
Media Relations Contact: PR@wix.com

Share Repurchase Program

Under the Board authorized repurchase program, Company securities may be repurchased from time to time using a variety of methods, which may include open market purchases, privately negotiated transactions or otherwise, all in accordance with U.S. securities laws and regulations, including Rule 10b-18 under the U.S. Securities Exchange Act of 1934, as amended (the “Exchange Act”). The Company may also, from time to time, enter into plans that are compliant with Rule 10b5-1 of the Exchange Act to facilitate repurchases of its securities under this Board authorization. The repurchase program does not obligate the Company to acquire any particular amount of securities, and the repurchase program may be suspended or discontinued at any time at the Company’s discretion. Repurchases under the repurchase program may begin after conclusion of the 30-day period for creditors of the Company to object to the Company’s intent to perform the distribution by way of repurchase in accordance with the Israeli Companies Regulations (Relief for Public Companies Whose Securities are Traded on Stock Exchanges Outside of Israel), 5760-2000 and the Israeli Regulations (Approval of Distribution), 5761–2001. The actual timing, number and value of securities repurchased depend on a number of factors, including the market price of the Company’s ordinary shares, general market and economic conditions, any objections received by the Company from its creditors, the Company’s financial results and liquidity, and other considerations. The Company expects to fund repurchases with cash on hand and future cash generated from its operations.

Non-GAAP Financial Measures and Key Operating Metrics

To supplement its consolidated financial statements, which are prepared and presented in accordance with U.S. GAAP, Wix uses the following non-GAAP financial measures: bookings, cumulative cohort bookings, bookings on a constant currency basis, revenue on a constant currency basis, non-GAAP gross margin, non-GAAP operating income (loss), non-GAAP operating margin, non-GAAP net income (loss), non-GAAP net income (loss) per share, free cash flow, free cash flow on a constant currency basis, free cash flow, as adjusted, free cash flow margins, non-GAAP R&D expenses, non-GAAP S&M expenses, non-GAAP G&A expenses, non-GAAP operating expenses, non-GAAP cost of revenue expense, non-GAAP financial expense, non-GAAP tax expense (collectively the “Non-GAAP financial measures”). Measures presented on a constant currency or foreign exchange neutral basis have been adjusted to exclude the effect of y/y changes in foreign currency exchange rate fluctuations. Bookings is a non-GAAP financial measure calculated by adding the change in deferred revenues and the change in unbilled contractual obligations for a particular period to revenues for the same period. Bookings include cash receipts for premium subscriptions purchased by users as well as cash we collect from business solutions, as well as payments due to us under the terms of contractual agreements for which we may have not yet received payment. Cash receipts for premium subscriptions are deferred and recognized as revenues over the terms of the subscriptions. Cash receipts for payments and the majority of the additional products and services (other than Google Workspace) are recognized as revenues upon receipt. Committed payments are recognized as revenue as we fulfill our obligation under the terms of the contractual agreement. Bookings and Creative Subscriptions Bookings are also presented on a further non-GAAP basis by excluding, in each case, bookings associated with long term B2B partnership agreements. Non-GAAP gross margin represents gross profit calculated in accordance with GAAP as adjusted for the impact of share-based compensation expense, acquisition-related expenses and amortization, divided by revenue. Non-GAAP operating income (loss) represents operating income (loss) calculated in accordance with GAAP as adjusted for the impact of share-based compensation expense, amortization, acquisition-related expenses and sales tax expense accrual and other G&A expenses (income). Non-GAAP net income (loss) represents net loss calculated in accordance with GAAP as adjusted for the impact of share-based compensation expense, amortization, sales tax expense accrual and other G&A expenses (income), amortization of debt discount and debt issuance costs and acquisition-related expenses and non-operating foreign exchange expenses (income). Non-GAAP net income (loss) per share represents non-GAAP net income (loss) divided by the weighted average number of shares used in computing GAAP loss per share. Free cash flow represents net cash provided by (used in) operating activities less capital expenditures. Free cash flow, as adjusted, represents free cash flow further adjusted to exclude one-time cash restructuring charges and the capital expenditures and other expenses associated with the buildout of our new corporate headquarters. Free cash flow margins represent free cash flow divided by revenue. Non-GAAP cost of revenue represents cost of revenue calculated in accordance with GAAP as adjusted for the impact of share-based compensation expense, acquisition-related expenses and amortization. Non-GAAP R&D expenses represent R&D expenses calculated in accordance with GAAP as adjusted for the impact of share-based compensation expense, acquisition-related expenses and amortization. Non-GAAP S&M expenses represent S&M expenses calculated in accordance with GAAP as adjusted for the impact of share-based compensation expense, acquisition-related expenses and amortization. Non-GAAP G&A expenses represent G&A expenses calculated in accordance with GAAP as adjusted for the impact of share-based compensation expense, acquisition-related expenses and amortization. Non-GAAP operating expenses represent operating expenses calculated in accordance with GAAP as adjusted for the impact of share-based compensation expense, acquisition-related expenses and amortization. Non-GAAP financial expense represents financial expense calculated in accordance with GAAP as adjusted for unrealized gains of equity investments, amortization of debt discount and debt issuance costs and non-operating foreign exchange expenses. Non-GAAP tax expense represents tax expense calculated in accordance with GAAP as adjusted for provisions for income tax effects related to non-GAAP adjustments.

The presentation of this financial information is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. The Company uses these non-GAAP financial measures for financial and operational decision making and as a means to evaluate period-to-period comparisons. The Company believes that these measures provide useful information about operating results, enhance the overall understanding of past financial performance and future prospects, and allow for greater transparency with respect to key metrics used by management in its financial and operational decision making.

For more information on the non-GAAP financial measures, please see the reconciliation tables provided below. The accompanying tables have more details on the GAAP financial measures that are most directly comparable to non-GAAP financial measures and the related reconciliations between these financial measures. The Company is unable to provide reconciliations of free cash flow, free cash flow margin, free cash flow, as adjusted, bookings, cumulative cohort bookings, non-GAAP gross margin, non-GAAP operating expenses, and non-GAAP tax expense to their most directly comparable GAAP financial measures on a forward-looking basis without unreasonable effort because items that impact those GAAP financial measures are out of the Company’s control and/or cannot be reasonably predicted. Such information may have a significant, and potentially unpredictable, impact on our future financial results.

Wix also uses Creative Subscriptions Annualized Recurring Revenue (ARR) as a key operating metric. Creative Subscriptions ARR is calculated as Creative Subscriptions Monthly Recurring Revenue (MRR) multiplied by 12. Creative Subscriptions MRR is calculated as the total of (i) the total monthly revenue of all Creative Subscriptions in effect on the last day of the period, other than domain registrations; (ii) the average revenue per month from domain registrations multiplied by all registered domains in effect on the last day of the period; and (iii) monthly revenue from other partnership agreements including enterprise partners.

Forward-Looking Statements

This document contains forward-looking statements, within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. Such forward-looking statements may include projections regarding our future performance, including, but not limited to revenue, bookings and free cash flow, and may be identified by words like “anticipate,” “assume,” “believe,” “aim,” “forecast,” “indication,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “subject”, “project,” “outlook,” “future,” “will,” “seek” and similar terms or phrases. The forward-looking statements contained in this document, including the quarterly and annual guidance, are based on management’s current expectations, which are subject to uncertainty, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Important factors that could cause our actual results to differ materially from those indicated in the forward-looking statements include, among others, our ability to attract and retain registered users and partners, and generate new premium subscriptions and additional business solutions as we continuously adjust our marketing strategy and customer care; maintenance of our brand and reputation, and generation of revenue from sources other than premium subscriptions; risks associated with international operations and the use of platform in various countries; risks related to the macroeconomic environment and ongoing global conflicts; security risks and payment risks and fluctuations in foreign currency exchange rates; failures of third-party hardware, software and infrastructure on which we rely, or failure to manage the operation of our infrastructure; adverse market conditions, including inflation, interest rates and other adverse developments that may adversely affect our cash balances and investment portfolio; our history of operating losses and inability to achieve sustained profitability; downturns or upturns in sales are not immediately reflected in full in our operating results; our ability to repurchase our ordinary shares and/or 0.00% Convertible Senior Notes due 2025 pursuant to our repurchase program; our ability to raise capital when needed or on acceptable terms; risks related to acquisitions and investments, pricing decisions, pandemics, natural disasters and other catastrophic events; our ability to develop and introduce new products and services, as well as maintain third-party products and are ability to keep up with rapid changes in design and technology; our ability to attract and retain qualified employees and key personnel; our ability to attract a diversified customer base and increased competition; our ability to maintain compatibility of our platform and solutions with changes in third-party applications and changes to technologies used in our solutions; our ability to acquire and service small business users; risks related to security breaches and unauthorized access to data, cyberattacks; our expectation regarding the uncertain future relationship between the United States and other countries with respect to trade policies, taxes, government regulations, and tariffs; our ability to comply with the regulations applicable to our operations, including new governmental regulations regarding the internet, consumer protection, artificial intelligence (“AI”), privacy and data protection laws and regulations, as well as contractual privacy and data protection obligations; risks relating to intellectual property, including infringements, litigation and claims, and our ability to maintain and protect our intellectual property rights and proprietary information; our expectations regarding the outcome of any regulatory investigation or litigation, including class actions; risks related to the development and integration of AI, generative AI, agentic AI, machine learning, and similar tools into our offerings, and comply with the regulatory environment impacting AI and AI-related activities; risks related to activities of registered users or content of their websites, and risks related to domain names and industry regulations; risks related to compliance with laws and regulations, including those related to economic sanctions, tariffs, export controls, anti-corruption and anti-money laundering, anti-trust, and consumer protection, and changes in these laws and regulations; risks related to tax, including application of indirect taxes, tax laws, changes in tax laws or changes in provision for income tax and examination of income tax returns; risks related to ordinary shares, activist shareholders, and our status as a foreign private issuer; risks related to our incorporation and location in Israel, including conflicts in the area; our expectations regarding future changes in our cost of revenues and our operating expenses on an absolute basis and as a percentage of our revenues; our planned level of capital expenditures and our belief that our existing cash and cash from operations will be sufficient to fund our operations for at least the next 12 months and for the foreseeable future; and our ability to enter into new markets and attracting new customer demographics, including our ability to successfully attract new partners and large enterprise-level users and to grow our activities, including through the adoption of our Wix Studio product, with these customer types as anticipated and other factors discussed under the heading “Risk Factors” in the Company’s annual report on Form 20-F for the year ended December 31, 2024 filed with the Securities and Exchange Commission on March 21, 2025. The preceding list is not intended to be an exhaustive list of all of our forward-looking statements. Any forward-looking statement made by us in this press release speaks only as of the date hereof. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise.


Wix.com Ltd.
CONSOLIDATED STATEMENTS OF OPERATIONS – GAAP
(In thousands, except loss per share data)

	Three Months Ended
	March 31,
		2025		2024
	(unaudited)
Revenues
Creative Subscriptions	$	337,676	$	304,293
Business Solutions		135,975		115,483
		473,651		419,776

Cost of Revenues
Creative Subscriptions		56,067		54,803
Business Solutions		95,725		82,494
		151,792		137,297

Gross Profit		321,859		282,479

Operating expenses:
Research and development		127,497		124,245
Selling and marketing		111,563		107,234
General and administrative		45,394		41,330
Total operating expenses		284,454		272,809
Operating income		37,405		9,670
Financial income, net		5,832		18,884
Other income, net		64		211

Income before taxes on income		43,301		28,765
Income tax expenses		9,535		4,763
Net income	$	33,766	$	24,002

Basic net income per share	$	0.61	$	0.43

Basic weighted-average shares used to compute net income per share		55,708,670		56,098,997

Diluted net income per share	$	0.57	$	0.41

Diluted weighted-average shares used to compute net income per share		60,384,510		58,647,238

Wix.com Ltd.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)

	Period ended
	March 31,			December 31,
		2025			2024
Assets	(unaudited)			(audited)
Current Assets:
Cash and cash equivalents	$	653,276		$	660,939
Short-term deposits		112,078			106,844
Restricted deposits		793			773
Marketable securities		304,555			338,593
Trade receivables		47,328			44,674
Prepaid expenses and other current assets		59,132			128,577
Total current assets		1,177,162			1,280,400

Long-Term Assets:
Prepaid expenses and other long-term assets		31,343			27,021
Property and equipment, net		125,450			128,155
Marketable securities		6,183			6,135
Intangible assets, net		20,680			22,141
Goodwill		49,329			49,329
Operating lease right-of-use assets		395,513			399,861
Total long-term assets		628,498			632,642

Total assets	$	1,805,660		$	1,913,042

Liabilities and Shareholders’ Deficiency
Current Liabilities:
Trade payables	$	38,032		$	47,077
Employees and payroll accruals		78,983			143,131
Deferred revenues		698,343			661,171
Current portion of convertible notes, net		573,674			572,880
Accrued expenses and other current liabilities		79,546			63,246
Operating lease liabilities		29,369			27,907
Total current liabilities		1,497,947			1,515,412
Long Term Liabilities:
Deferred revenues		96,461			89,271
Deferred tax liability		1,066			1,965
Other long-term liabilities		19,414			16,021
Operating lease liabilities		359,389			369,159
Total long-term liabilities		476,330			476,416

Total liabilities		1,974,277			1,991,828

Shareholders’ Deficiency
Ordinary shares		107			107
Additional paid-in capital		1,923,576			1,840,574
Treasury shares		(1,225,165	)		(1,025,167	)
Accumulated other comprehensive loss		641			7,242
Accumulated deficit		(867,776	)		(901,542	)
Total shareholders’ deficiency		(168,617	)		(78,786	)

Total liabilities and shareholders’ deficiency	$	1,805,660		$	1,913,042

Wix.com Ltd.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)

	Three Months Ended
	March 31,
		2025			2024
	(unaudited)
OPERATING ACTIVITIES:
Net income	$	33,766		$	24,002
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation		6,137			6,442
Amortization		1,461			1,483
Share based compensation expenses		60,261			58,142

Amortization of debt discount and debt issuance costs		794			790
Changes in accrued interest and exchange rate on short term and long term deposits		(224	)		880
Amortization of premium and discount and accrued interest on marketable securities, net		3,557			597

Remeasurement loss (gain) on Marketable equity		–			(3,367	)
Changes in deferred income taxes, net		1			(5,011	)
Changes in operating lease right-of-use assets		4,803			5,024
Changes in operating lease liabilities		(8,763	)		(3,652	)
Loss (gain) on foreign exchange, net		(2,006	)		553
Decrease (increase) in trade receivables		(2,654	)		1,119
Decrease (increase) in prepaid expenses and other current and long-term assets		58,289			(12,568	)
Decrease in trade payables		(9,338	)		(2,123	)

Decrease in employees and payroll accruals		(64,148	)		(2,429	)

Increase in short term and long term deferred revenues		44,362			41,319

Increase in accrued expenses and other current liabilities		19,193			2,635

Net cash provided by operating activities	$	145,491			113,836
INVESTING ACTIVITIES:

Proceeds from short-term deposits and restricted deposits		107,780			823

Investment in short-term deposits and restricted deposits		(112,810	)		(30,162	)
Investment in marketable securities		(27,693	)		(27,847	)
Proceeds from marketable securities		58,292			52,805

Purchase of property and equipment and lease prepayment		(2,629	)		(7,715	)
Capitalization of internal use of software		(421	)		(410	)
Proceeds from sale of equity securities		–			22,148
Proceed from realization of investments in privately held companies		417			–

Purchases of investments in privately held companies		(750	)		(550	)

Net cash provided by investing activities	$	22,186			9,092
FINANCING ACTIVITIES:

Proceeds from exercise of options and ESPP shares		22,654			22,628
Purchase of treasury stock		(200,000	)		(241,302	)

Net cash used in financing activities	$	(177,346	)		(218,674	)
Effect of exchange rates on cash, cash equivalent and restricted cash		2,006			(553	)

DECREASE IN CASH AND CASH EQUIVALENTS		(7,663	)		(96,299	)

CASH AND CASH EQUIVALENTS—Beginning of period		660,939			609,622
CASH AND CASH EQUIVALENTS—End of period	$	653,276		$	513,323

Wix.com Ltd.
KEY PERFORMANCE METRICS
(In thousands)

	Three Months Ended
	March 31,
		2025			2024
	(unaudited)
Creative Subscriptions		337,676			304,293
Business Solutions		135,975			115,483
Total Revenues	$	473,651		$	419,776

Creative Subscriptions		369,469			334,637
Business Solutions		141,436			122,644
Total Bookings	$	510,905		$	457,281

Free Cash Flow	$	142,441		$	105,711

Free Cash Flow excluding HQ build out	$	142,441		$	111,073
Creative Subscriptions ARR		1,372,670		$	1,244,264



Wix.com Ltd.
RECONCILIATION OF REVENUES TO BOOKINGS
(In thousands)

	Three Months Ended
	March 31,
		2025			2024
	(unaudited)
Revenues	$	473,651		$	419,776
Change in deferred revenues		44,362			41,319
Change in unbilled contractual obligations		(7,108	)		(3,814	)
Bookings	$	510,905		$	457,281

Y/Y growth		12	%

	Three Months Ended
	March 31,
		2025			2024
	(unaudited)
Creative Subscriptions Revenues	$	337,676		$	304,293
Change in deferred revenues		38,901			34,158
Change in unbilled contractual obligations		(7,108	)		(3,814	)
Creative Subscriptions Bookings	$	369,469		$	334,637

Y/Y growth		10	%

	Three Months Ended
	March 31,
		2025			2024
	(unaudited)
Business Solutions Revenues	$	135,975		$	115,483
Change in deferred revenues		5,461			7,161
Business Solutions Bookings	$	141,436		$	122,644

Y/Y growth		15	%



Wix.com Ltd.
RECONCILIATION OF COHORT BOOKINGS
(In millions)
	Three Months Ended
	March 31,
		2025			2024

Q1 Cohort revenues		9		$	9
Q1 Change in deferred revenues		27			23
Q1 Cohort Bookings	$	36		$	32



Wix.com Ltd.
RECONCILIATION OF REVENUES AND BOOKINGS EXCLUDING FX IMPACT
(In thousands)
	Three Months Ended
	March 31,
		2025			2024
	(unaudited)
Revenues	$	473,651		$	419,776
FX impact on Q1/25 using Y/Y rates		4,225			–
Revenues excluding FX impact	$	477,876		$	419,776
Y/Y growth		14	%

	Three Months Ended
	March 31,
		2025			2024
	(unaudited)
Bookings	$	510,905		$	457,281
FX impact on Q1/25 using Y/Y rates		7,775			–
Bookings excluding FX impact	$	518,680		$	457,281
Y/Y growth		13	%



Wix.com Ltd.
TOTAL ADJUSTMENTS GAAP TO NON-GAAP
(In thousands)

	Three Months Ended
	March 31,
		2025			2024
(1) Share based compensation expenses:	(unaudited)
Cost of revenues	$	3,320		$	3,590
Research and development		31,491			31,102
Selling and marketing		9,177			10,483
General and administrative		16,273			12,967
Total share based compensation expenses		60,261			58,142
(2) Amortization		1,472			1,483
(3) Acquisition related expenses		–			5
(4) Amortization of debt discount and debt issuance costs		794			790
(5) Sales tax accrual and other G&A expenses		699			121
(6) Unrealized loss (gain) on equity and other investments		(42	)		(3,367	)
(7) Non-operating foreign exchange income		(3,079	)		(4,663	)
(8) Provision for income tax effects related to non-GAAP adjustments		–			774
Total adjustments of GAAP to Non GAAP	$	60,105		$	53,285



Wix.com Ltd.
RECONCILIATION OF GAAP TO NON-GAAP GROSS PROFIT
(In thousands)

	Three Months Ended
	March 31,
		2025			2024
	(unaudited)
Gross Profit	$	321,859		$	282,479
Share based compensation expenses		3,320			3,590
Amortization		667			667
Non GAAP Gross Profit		325,846			286,736

Non GAAP Gross margin		69	%		68	%

	Three Months Ended
	March 31,
		2025			2024
	(unaudited)
Gross Profit – Creative Subscriptions	$	281,609		$	249,490
Share based compensation expenses		2,367			2,669
Non GAAP Gross Profit – Creative Subscriptions		283,976			252,159

Non GAAP Gross margin – Creative Subscriptions		84	%		83	%

	Three Months Ended
	March 31,
		2025			2024
	(unaudited)
Gross Profit – Business Solutions	$	40,250		$	32,989
Share based compensation expenses		953			921
Amortization		667			667
Non GAAP Gross Profit – Business Solutions		41,870			34,577

Non GAAP Gross margin – Business Solutions		31	%		30	%



Wix.com Ltd.
RECONCILIATION OF OPERATING INCOME TO NON-GAAP OPERATING INCOME
(In thousands)

	Three Months Ended
	March 31,
		2025			2024
	(unaudited)
Operating income	$	37,405		$	9,670
Adjustments:
Share based compensation expenses		60,261			58,142
Amortization		1,472			1,483
Sales tax accrual and other G&A expenses		699			121
Acquisition related expenses		–			5
Total adjustments	$	62,432		$	59,751

Non GAAP operating income	$	99,837		$	69,421

Non GAAP operating margin		21	%		17	%



Wix.com Ltd.
RECONCILIATION OF NET INCOME TO NON-GAAP NET INCOME AND NON-GAAP NET INCOME PER SHARE
(In thousands, except per share data)

	Three Months Ended
	March 31,
		2025			2024
	(unaudited)
Net income	$	33,766		$	24,002
Share based compensation expenses and other Non GAAP adjustments		60,105			53,285
Non-GAAP net income	$	93,871		$	77,287


Basic Non GAAP net income per share	$	1.69		$	1.38

Weighted average shares used in computing basic Non GAAP net income per share		55,708,670			56,098,997

Diluted Non GAAP net income per share	$	1.55		$	1.29

Weighted average shares used in computing diluted Non GAAP net income per share		60,384,510			60,073,986



Wix.com Ltd.
RECONCILIATION OF NET CASH PROVIDED BY OPERATING ACTIVITIES TO FREE CASH FLOW
(In thousands)

	Three Months Ended
	March 31,
		2025			2024
	(unaudited)
Net cash provided by operating activities	$	145,491		$	113,836
Capital expenditures, net		(3,050	)		(8,125	)
Free Cash Flow	$	142,441		$	105,711


Capex related to HQ build out		–			5,362

Free Cash Flow excluding HQ build out	$	142,441		$	111,073

The MIL Network –

May 21, 2025

MIL-OSI: WISeKey Launches WISe.ART 3.0, One of the World’s First and Largest Web3 Marketplaces for Digital Art, Twins, NFTs, and Crypto Collectibles

Source: GlobeNewswire (MIL-OSI)

WISeKey Launches WISe.ART 3.0, One of the World’s First and Largest Web3 Marketplaces for Digital Art, Twins, NFTs, and Crypto Collectibles

Geneva, Switzerland — May 21, 2025 — WISeKey International Holding Ltd (“WISeKey”) (SIX: WIHN, NASDAQ: WKEY), a leading global cybersecurity, blockchain, and IoT company, in partnership with its subsidiary, SEALSQ Corp (Nasdaq: LAES), which focuses on semiconductors, PKI, and post-quantum technology products, today announces the launch of new enhanced WISe.ART marketplace, a revolutionary Web3 platform for digital art, digital twins, NFTs, and crypto collectibles. This next-generation marketplace is one of the first and largest of its kind.

The WISe.ART 3.0 platform redefines the digital art experience by providing creators and collectors with a secure, traceable, and intelligent environment for trading and authenticating digital assets.

Key Features of WISe.ART 3.0:

Native Web3 support: Users can securely and easily connect their Metamask or Walletconnect wallet to the platform. NFTs can be imported and exported to the marketplace to allow complete control of their digital collection.
Refreshed platform & Multi-Device support: The WISe.Art platform has received a complete overhaul of its front-end and back-end structure, allowing users to carry their digital collection with them at all times, as the new platform supports desktop, tablets and mobile devices.
Link Between Physical and Digital Assets: WISe.ART NFTs are irreversibly connected to their corresponding physical objects, ensuring tamper-proof authenticity and provenance.
Smart Contracts for Monetization: Artists and creators can set automated royalty structures, usage rights, and monetization strategies through embedded smart contracts.
Advanced Cybersecurity & Post-Quantum Resilience: Secured by WISeKey’s and SEALSQ’s digital identity and encryption technologies, the platform safeguards all transactions and digital interactions against present and future cyber threats.
Easy purchase with Crossmint support: The Crossmint integration allows for seamless transactions with credit and debit cards, Apple and Google Pay, from anywhere in the world. Users that do not possess a wallet can create a ghost wallet on-the-fly upon checking out.

For Version 3 we have listened to our users and have added important new functionalities which they requested:

Collectors and artists can now import pre-minted NFTs from other platforms as long as they are minted in the crypto we support (such as Hedera, Polygon or Eth) and that the pre-minted NFTs are compatible with our requirements. Those wishing to consolidate their NFT collections into one wallet – it can now be done on WISe.ART. Additionally, artists wishing to leave a certain platform can now join WISe.ART and showcase their complete collections on one platform safely and efficiently.
Relisting tokens on the secondary market is still possible but for those who do not have a compatible wallet, it can be created with few simple steps, new prices can be set as the market fluctuates.
The user journey for artists and collectors is made simple and intuitive. New FAQ or contact request forms have been integrated for those who seek human interaction. Our white glove service is enhanced throughout the process.

Since its launch in 2021, WISe.ART, the NFT platform developed by WISeKey, has led numerous high-impact and pioneering NFT projects. Combining trusted digital identity, robust cybersecurity, and environmental consciousness, WISe.ART has redefined how digital art and luxury collectibles are created, verified, and traded. Here are the most significant NFT projects it has executed:

ONUART Foundation & United Nations – NFT for Education in Africa: A collaboration with ONUART and the UN led to NFT auctions designed to fund school-building initiatives in Africa, combining philanthropy with digital innovation. In 2023, WISeArt artist were the first to donate generative artworks to the ONUART Foundation in celebration of the 71^st anniversary of the UN Human Right Charter.
Antonio Banderas Foundation – Pedro Sandoval NFT Drop: A limited-edition NFT by artist Pedro Sandoval was sold to benefit the Antonio Banderas Foundation, showcasing WISe.ART’s support for social causes through cultural art.
Swiss Collector Events & WISe.ART Awards: WISe.ART has organized NFT art exhibitions, including the WISe.ART Awards, recognizing digital creators and curators pioneering new frontiers in NFT art.

Revolutionizing the Future of Art

WISe.ART 3.0 is democratizing digital expression by empowering billions of people worldwide to create, share, and monetize their artistic visions through a secure and trusted platform. Whether it’s a digitally generated painting, a collectible tied to a physical sculpture, or a new form of cultural expression, WISe.ART enables creators from all backgrounds to participate in the global digital art economy, safely and transparently. A new physical space will open Geneva to represent WISe.ART digital works on May 22. This space aims to bridge the 19^th and 21^st Century technologies raising awareness among collectors. The showroom will be a case study for the web3 communities to mingle with their cultural heritage.

Accessible Art Purchasing — Crypto Optional

To acquire WISe.ART digital artworks, including those linked to NFTs or hosted on blockchains, cryptocurrency is not a requirement. NFTs are available for purchase in USD and other fiat currencies, and transactions can be completed securely via credit card, debit card, Apple Pay or Google Pay. Additionally, Crossmint facilitates the conversion of fiat money to crypto for users who wish to engage in blockchain-based purchases. While collectors of blockchain-based works typically need a crypto wallet, platforms such as Metamask and WalletConnect make wallet setup simple, intuitive, and user-friendly, enabling purchases with the ease of acquiring a traditional artwork.

Carlos Moreira, Founder and CEO of WISeKey, stated: “Since inception the platform has welcomed an eclectic array of works representing all types of art from physical pieces coupled with digital twins, numeric compositions, ai assisted or generated art, music and film as well as collectibles like real estate, jewelry and design. As technology progresses, we attract artists who are keen to explore the new possibilities and means to convey their message. Technology is a tool – art is a vector for communication.”

WISe.ART 3.0 opens the door to a future where creativity meets accountability, and where digital assets are as protected and valuable as their physical counterparts. For more information, visit www.wise.art

About WISeKey

WISeKey International Holding Ltd (“WISeKey”, SIX: WIHN; Nasdaq: WKEY) is a global leader in cybersecurity, digital identity, and IoT solutions platform. It operates as a Swiss-based holding company through several operational subsidiaries, each dedicated to specific aspects of its technology portfolio. The subsidiaries include (i) SEALSQ Corp (Nasdaq: LAES), which focuses on semiconductors, PKI, and post-quantum technology products, (ii) WISeKey SA which specializes in RoT and PKI solutions for secure authentication and identification in IoT, Blockchain, and AI, (iii) WISeSat AG which focuses on space technology for secure satellite communication, specifically for IoT applications, (iv) WISe.ART Corp which focuses on trusted blockchain NFTs and operates the WISe.ART marketplace for secure NFT transactions, and (v) SEALCOIN AG which focuses on decentralized physical internet with DePIN technology and house the development of the SEALCOIN platform.

Each subsidiary contributes to WISeKey’s mission of securing the internet while focusing on their respective areas of research and expertise. Their technologies seamlessly integrate into the comprehensive WISeKey platform. WISeKey secures digital identity ecosystems for individuals and objects using Blockchain, AI, and IoT technologies. With over 1.6 billion microchips deployed across various IoT sectors, WISeKey plays a vital role in securing the Internet of Everything. The company’s semiconductors generate valuable Big Data that, when analyzed with AI, enable predictive equipment failure prevention. Trusted by the OISTE/WISeKey cryptographic Root of Trust, WISeKey provides secure authentication and identification for IoT, Blockchain, and AI applications. The WISeKey Root of Trust ensures the integrity of online transactions between objects and people. For more information on WISeKey’s strategic direction and its subsidiary companies, please visit www.wisekey.com.

Disclaimer
This communication expressly or implicitly contains certain forward-looking statements concerning WISeKey International Holding Ltd and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of WISeKey International Holding Ltd to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. WISeKey International Holding Ltd is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.

This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and it does not constitute an offering prospectus within the meaning of the Swiss Financial Services Act (“FinSA”), the FinSa’s predecessor legislation or advertising within the meaning of the FinSA. Investors must rely on their own evaluation of WISeKey and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of WISeKey.

Press and Investor Contacts

WISeKey International Holding Ltd
Company Contact: Carlos Moreira
Chairman & CEO
Tel: +41 22 594 3000
info@wisekey.com

WISeKey Investor Relations (US)
The Equity Group Inc.
Lena Cati
Tel: +1 212 836-9611
lcati@equityny.com

The MIL Network –

May 21, 2025

MIL-OSI: Bitcoin Buys a View: Trump Tower Dubai Embraces Cryptocurrency Payments via Deus X Pay

Source: GlobeNewswire (MIL-OSI)

VILNIUS, Lithuania, May 21, 2025 (GLOBE NEWSWIRE) — Deus X Pay, a licensed institutional stablecoin payment solution setting new standards across the luxury sectors, is now enabling crypto payments for property purchases at the new Trump Tower Dubai, the first Trump International Hotel to be built in the Middle East.

The new $1 billion Trump Tower Dubai, unveiled through partnership with London-listed Dar Global, marks a breakthrough in global luxury real estate. Eric Trump, Executive Vice President of the Trump Organisation and son of US President Donald Trump, has recently announced that Bitcoin and other digital currencies will be accepted for condo sales.

Ziad El Chaar, CEO of Dar Global, said the Trump Tower Dubai is among the most ambitious Trump-branded residential towers globally, reflecting the project’s magnitude, stature, and symbolic significance in the region and internationally.

Trump previously told Gulf Business that Dubai is where luxury real estate and financial innovation intersect, and projects like Trump Tower Dubai are leading the way. By embracing technologies like stablecoins, buyers gain a faster, cheaper and more transparent way to secure exclusive, high-end properties while reshaping how luxury transactions are conducted.

Deus X Pay, a licensed Virtual Asset Service Provider (VASP) in Lithuania, offers institutional stablecoin payment solutions, enabling luxury sectors such as real estate, aviation and yachting to capitalise on this new era of finance. Deus X Pay CEO, Richard Crook, highlights that Dubai has created an environment where stablecoins can flourish as a practical, secure tool for international transactions (with Crypto Watch reporting that crypto adoption in the UAE is expected to surge 210% in 2025), giving premium buyers faster, frictionless access to high-value assets.

“Dubai’s forward-thinking stance has unlocked a whole new economy, and the gold standard for transactions of high-value assets. International buyers seek faster settlements, fewer cross-border complications and seamless access to premium developments. This project is a defining moment — not just for Deus X Pay, but for the global real estate sector. We are thrilled to deliver the regulated rails that make it possible for premium property buyers to transact instantly, compliantly and without the traditional delays or friction.”

The Trump Tower Dubai, an 80-story architectural icon, offers the highest international standards for ultra-high-net-worth travellers and long-stay residents. The exclusive building boasts 2-3 bedroom apartments and 4-bedroom penthouses valued at over AED 73 million, the highest outdoor swimming pool in the world, and has views of the world’s tallest building, the Burj Khalifa.

This new skyscraper is part of an expanding trend across private aviation, superyachts, and luxury collectables as high-end sectors embrace digital assets as a payment option to future-proof legacy industries.

For media enquiries, contact:
Sarah Tran
Head of Marketing
media@deusxpay.com

About Deus X Pay
Deus X Pay is a regulated provider of institutional stablecoin payment solutions, revolutionising the authorisation, clearing, and settlement of cryptocurrency payments. We enhance global payment options for institutions, businesses, and corporations by seamlessly merging traditional finance with advanced digital payment infrastructure, enabling faster, more cost-effective, and secure transactions.

Fully compliant and regulated as a Virtual Asset Service Provider, Deus X Pay operates under a license in Lithuania, supervised by the Financial Crime Investigation Service (FNTT), the Czech Republic, supervised by the Financial Analytical Office (FAU), and in Canada, supervised by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).

As a part of the innovative crypto investment firm Deus X Capital, we equip organisations with state-of-the-art financial tools aimed at fostering growth and success in today’s dynamic market.

Disclaimer: This is a paid post and is provided by Deus X Pay. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page.

Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4da4d9a6-74af-4322-b030-f4ed0f09eb4f

The MIL Network –

May 21, 2025
MIL-OSI: Prosafe SE: First-quarter results 2025
Source: GlobeNewswire (MIL-OSI)

(Figures in brackets refer to the corresponding period last year)

21 May 2025 – Prosafe SE reported EBITDA of USD 4.6 million (USD 7.2 million) for the first quarter of 2025. The company had four active vessels during the quarter.

Operations and HSSE
- Good operating performance
- Safe Zephyrus extended with Petrobras to Q3 2027
- Sale of Safe Concordia and Safe Scandinavia
- Safe Caledonia re-activated for UK contract with start 1 June
- Safe Boreas in transit to Singapore ahead of Australia contract
- Safe Notos declared winner of Brazil 4-year tender
Q1 financials
- Revenues of USD 33 million (USD 34 million) and EBITDA of USD 4.6 million (USD 7.2 million)
- Cash flow from operations of USD 28.4 million (negative USD 1.4 million) including contract prepayments for Safe Boreas and Safe Caledonia
- Capex of USD 21.2 million (USD 1.7 million) due to reactivation of Safe Boreas and Safe Caledonia
- Liquidity position of USD 54 million, compared to USD 46.8 million at year-end 2024
Recapitalisation
- Terms agreed for equitisation of USD 193 million of debt for 90% of the shares in the company
- Supported by lenders representing the USD 250 million and the USD 93 million loan facilities and approved by Prosafe shareholders at the extraordinary general meeting on 16 May
- Existing shareholders to retain 5% ownership with penny warrants for further 5% at EUR 0.01 per share
- Transaction provides a sustainable capital structure and sufficient liquidity to meet capital expenditure and working capital needs for the foreseeable future
- Estimated post recapitalization net debt of USD 220 million
- Expected completion in Q3 2025
Market and outlook
- Ongoing Petrobras tenders confirm strong market fundamentals in Brazil
- North Sea operators continue to plan for future campaigns with focus on 2027 and beyond
- Increased backlog, improved market and recapitalisation positions Prosafe for improved earnings
Please see the Q1 2025 presentation for further details.

Terje Askvig, the CEO of Prosafe, says, “Operationally, we maintain high utilisation on our active fleet, while making good progress on preparing for new contracts in Australia and the UK. We also continue to build backlog with Safe Notos recently named winner, subject to final contract, of a 4-year tender with Petrobras in Brazil. We are also very pleased with the support shown by our lenders and shareholders through the agreed refinancing which will create a sustainable capital structure going forward and ensure that Prosafe continues to be the world’s leading provider of floating accommodation vessels and Units for Maintenance and Safety (UMS).”

Presentation

Terje Askvig, CEO, and Reese McNeel, CFO, will present the results at Pareto Securities, located at Dronning Mauds gate 3, 0115 Oslo, on 21 May 2025 at 10:00 CEST.

This presentation is open to the public and will be live-streamed on Prosafe’s website.

https://wwww.prosafe.com

It will be possible to ask questions during the presentation by using the Q&A tool embedded in the audiocast. These questions will be answered after the presentation.

A replay of the audiocast will be made available on Prosafe’s website shortly after.

The Q1 2025 press release and presentation is attached and can be downloaded from https://www.prosafe.com and www.newsweb.no (https://www.newsweb.no). The 2024 annual report was published on 30 April 2025.

Prosafe is a leading owner and operator of semi-submersible accommodation vessels. The company is listed on the Oslo Stock Exchange with ticker code PRS. For more information, please refer to www.prosafe.com (https:///www.prosafe.com)

For further information, please contact:

Terje Askvig, CEO Phone: +47 952 03 886

Reese McNeel, CFO Phone: +47 415 08 186

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.

Attachments
- Q1 2025 presentation Prosafe
- Q1 2025 earnings release
The MIL Network –
May 21, 2025

MIL-OSI: CoinShares Expands XBT Provider Platform with Seven New Physical Crypto ETPs

Source: GlobeNewswire (MIL-OSI)

May 21, 2025 | SAINT HELIER, Jersey | CoinShares International Limited (“CoinShares” or “the Group”) (Nasdaq Stockholm: CS; US OTCQX: CNSRF), a leading global investment company specializing in digital assets with over $6 billion in AUM, announces the expansion of its Swedish XBT Provider Platform with the launch of seven new physically-backed crypto Exchange Traded Products (ETPs).

CoinShares is leveraging its well-established and respected Swedish platform, CoinShares XBT Provider AB, to offer investors access to new digital assets with best-in-class structuration, cost-effective management fees, and staking rewards for proof-of-stake cryptocurrencies. Each product employs physical replication, meaning the underlying cryptocurrencies purchased and directly held in a regulated custodian.

The seven new products, all denominated and traded in SEK and listed on Nasdaq Stockholm, include:

Name	Management Fees	Staking Reward
CoinShares XBT Litecoin	1.50% p.a.	Not a proof of stake crypto
CoinShares XBT Chainlink	1.50% p.a.	Not a proof of stake crypto
CoinShares XBT Polkadot	Reduced to 0.00% p.a.	5.0% p.a.
CoinShares XBT Solana	Reduced to 0.00% p.a.	3.0% p.a.
CoinShares XBT Cardano	Reduced to 0.00% p.a.	2.0% p.a.
CoinShares XBT XRP	1.50% p.a.	Not a proof of stake crypto
CoinShares XBT Uniswap	1.50% p.a.	Not a proof of stake crypto

Jean-Marie Mognetti, CEO of CoinShares, commented on the launch: “We are glad to reinvigorate the CoinShares XBT Provider platform, which made history as the world’s first open-ended crypto ETP when created in 2015 and subsequently acquired by CoinShares in 2016. With this product extension, we’re enabling Swedish investors to access an expanded range of tokens through a pioneering and time-tested crypto ETP platform. The XBT Provider platform has consistently demonstrated its reliability and has become the trusted choice for Swedish investors seeking exposure to digital assets.

This expansion represents our commitment to developing the Swedish market, providing institutional-grade investment vehicles that can help bridge the adoption gap that currently exists compared to other European markets. By offering these innovative products on a trusted platform, we aim to accelerate digital asset integration within Sweden’s sophisticated financial ecosystem.”

“We are happy to see CoinShares expand their offering on our markets. The demand for ETPs is continuing to grow and this is an important step for the Swedish market in meeting that demand. With a broader range of locally listed ETPs, we give investors the opportunity to take advantage of cost-effective, transparent investment opportunities.” says Adam Kostyál, President, Nasdaq Stockholm

About CoinShares

CoinShares is a leading global digital asset manager that delivers a broad range of financial services across investment management, trading and securities to a wide array of clients that includes corporations, financial institutions and individuals. Founded in 2013, the firm is headquartered in Jersey, with offices in France, Stockholm, the UK, and the US. CoinShares is regulated in Jersey by the Jersey Financial Services Commission, in France by the Autorité des marchés financiers, in the US by the Financial Industry Regulatory Authority. CoinShares is publicly listed on the Nasdaq Stockholm under the ticker CS and the OTCQX under the ticker CNSRF.

For more information on CoinShares, please visit: https://coinshares.com
Company | +44 (0)1534 513 100 | enquiries@coinshares.com
Investor Relations | +44 (0)1534 513 100 | enquiries@coinshares.com

PRESS CONTACT

CoinShares
Benoît Pellevoizin
bpellevoizin@coinshares.com

M Group Strategic Communications
Peter Padovano
coinshares@mgroupsc.com

The MIL Network –

May 21, 2025

MIL-OSI: Cipher Mining Prices Convertible Senior Notes Offering and Hedging Transaction to Place Borrowed Common Stock

Source: GlobeNewswire (MIL-OSI)

NEW YORK, May 21, 2025 (GLOBE NEWSWIRE) — Cipher Mining Inc. (NASDAQ: CIFR) (“Cipher” or the “Company”) today announced the pricing of its public offering of $150,000,000 aggregate principal amount of convertible senior notes due 2030 (the “notes”) in an offering registered under the Securities Act of 1933, as amended. The issuance and sale of the notes are scheduled to settle on May 22, 2025, subject to customary closing conditions. Cipher also granted the underwriters of the notes offering a 30-day option to purchase up to an additional $22,500,000 aggregate principal amount of notes solely to cover over-allotments. Morgan Stanley is acting as sole bookrunning manager for the offering. Keefe, Bruyette & Woods, A Stifel Company is acting as co-manager for the offering.

The notes will be senior, unsecured obligations of Cipher, and will accrue interest at a rate of 1.75% per annum, payable semi-annually in arrears on May 15 and November 15 of each year, beginning on November 15, 2025. The notes will mature on May 15, 2030, unless earlier repurchased, redeemed or converted. Noteholders will have the right to convert their notes in certain circumstances and during specified periods. Cipher will settle conversions by paying or delivering, as applicable, cash, shares of its common stock, par value $0.001 per share (“common stock”), or a combination of cash and shares of its common stock, at Cipher’s election. The initial conversion rate is 224.9213 shares of common stock per $1,000 principal amount of notes, which represents an initial conversion price of approximately $4.45 per share of common stock. The initial conversion price represents a premium of approximately 30.00% over the $3.42 public offering price per share of common stock in the concurrent delta offering referred to below. The conversion rate and conversion price will be subject to adjustment upon the occurrence of certain events.

The notes will be redeemable, in whole or in part (subject to certain limitations), for cash at Cipher’s option at any time, and from time to time, on or after May 22, 2028 and on or before the 30th scheduled trading day immediately before the maturity date, but only if the last reported sale price per share of Cipher’s common stock exceeds 130% of the conversion price for a specified period of time. The redemption price will be equal to the principal amount of the notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the redemption date.

If certain corporate events that constitute a “fundamental change” occur, then, subject to a limited exception, noteholders may require Cipher to repurchase their notes for cash. The repurchase price will be equal to the principal amount of the notes to be repurchased, plus accrued and unpaid interest, if any, to, but excluding, the applicable repurchase date. In addition, unless Cipher has previously called all outstanding notes for redemption, noteholders may at their option require Cipher to repurchase their notes for cash on May 15, 2028 at a repurchase price equal to the principal amount of the notes to be repurchased, plus accrued and unpaid interest, if any, to, but excluding, the repurchase date.

The net proceeds from the offering, before offering expenses, will be $145,875,000 (or $167,756,250 if the underwriters fully exercise their option to purchase additional notes), after deducting the underwriting discounts and commissions. Cipher intends to use the net proceeds from the offering to complete Phase 1 of the Black Pearl data center project (“Phase 1”), including: (i) purchasing at a discount the remaining balance of mining rigs required for Phase 1; (ii) paying expected tariffs and shipping costs for the mining rigs to be used for Phase 1; and (iii) paying other infrastructure-related capital expenditures in connection with Phase 1, and for general corporate purposes. On May 16, 2025, the Company, through its wholly-owned subsidiaries Cipher Mining Infrastructure LLC, a Delaware limited liability company, and Cipher Black Pearl LLC, a Delaware limited liability company, entered into an Amendment Agreement and Deed of Novation to the Future Sales and Purchase Agreement (the “2025 Amendment”) with Bitmain Technologies Delaware Limited, which amends the Company’s existing Future Sales and Purchase Agreement, dated December 16, 2023, as amended by the Supplemental Agreement, dated June 5, 2024, the Amendment Agreement, dated July 10, 2024 and the Notice of Exercise dated February 5, 2025 (together, the “Original Agreement”). The Original Agreement has been amended to include an updated delivery schedule that allows for rig delivery by June 23, 2025. Through such amendment, the Company aims to accelerate its rig deployment timeline and offset a portion of expected tariffs. The Company also received a 10% reduction in cost in exchange for the Company’s early payment of the remaining balance outstanding under the Original Agreement. The amendment also provides the Company with additional incremental value from BTC-linked call options.

Concurrently with the offering of the notes, Morgan Stanley, acting on behalf of itself and/or its affiliates (in such capacity, the “delta offering underwriter”), intends to offer, in a separate, underwritten offering, 17,540,000 shares of Cipher’s common stock borrowed from third parties (the “concurrent delta offering”), to facilitate hedging transactions (whether physical and/or through derivatives) by some of the purchasers of the notes. The delta offering underwriter will initially offer the shares of Cipher’s common stock to the public at a price of $3.42 per share and subsequently offer the shares of Cipher’s common stock for sale in one or more transactions on The Nasdaq Global Select Market, in the over-the-counter market, through negotiated transactions or otherwise, at market prices prevailing at the time of sale. The concurrent delta offering is scheduled to settle on May 22, 2025, subject to customary closing conditions. The completion of the offering of the notes is contingent on the completion of the concurrent delta offering, and the completion of the concurrent delta offering is contingent on the completion of the offering of the notes.

The offering of the notes and the concurrent delta offering are being made pursuant to an effective shelf registration statement on file with the Securities and Exchange Commission (the “SEC”). Each of the offering of the notes and the concurrent delta offering is being made only by means of a prospectus supplement and an accompanying prospectus. Before you invest, you should read the respective prospectus supplements and the accompanying prospectus and other documents that the Company has filed with the SEC for more complete information about the Company and the offering. You may find these documents on the SEC’s website at www.sec.gov. Alternatively, copies of these documents can be obtained by contacting: Morgan Stanley, 180 Varick Street, 2nd Floor, New York, New York 10014, Attention: Prospectus Department.

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

J. Wood Capital Advisors LLC acted as financial advisor to the Company.

About Cipher

Cipher is focused on the development and operation of industrial-scale data centers for bitcoin mining and HPC hosting. Cipher aims to be a market leader in innovation, including in bitcoin mining growth, data center construction and as a hosting partner to the world’s largest HPC companies. To learn more about Cipher, please visit https://www.ciphermining.com/.

Forward Looking Statements

This press release contains certain forward-looking statements within the meaning of the federal securities laws of the United States. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions. Any statements made in this press release that are not statements of historical fact, such as, statements about the completion of the notes offering and the concurrent delta offering, the use of proceeds from the notes offering, the effect of the hedging activities related to the notes offering on the market price of our shares of common stock, our beliefs and expectations regarding our future results of operations and financial position, planned business model and strategy, our bitcoin mining and HPC data center development, timing and likelihood of success, capacity, functionality and timing of operation of data centers, expectations regarding the operations of data centers, potential strategic initiatives, such as joint ventures and partnerships, and management plans and objectives, are forward-looking statements and should be evaluated as such. These forward-looking statements generally are identified by the words “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “seeks,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “strategy,” “future,” “forecasts,” “opportunity,” “predicts,” “potential,” “would,” “will likely result,” “continue,” and similar expressions (including the negative versions of such words or expressions).

These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Cipher and our management, are inherently uncertain. Such forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such forward looking statements. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: volatility in the price of Cipher’s securities due to a variety of factors, including changes in the competitive and regulated industry in which Cipher operates, Cipher’s evolving business model and strategy and efforts we may make to modify aspects of our business model or engage in various strategic initiatives, variations in performance across competitors, changes in laws and regulations affecting Cipher’s business, and the ability to implement business plans, forecasts, and other expectations and to identify and realize additional opportunities. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of our Annual Report on Form 10-K for the fiscal year ended December 31, 2024 filed with the SEC on February 25, 2025, and in Cipher’s subsequent filings with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Cipher assumes no obligation and, except as required by law, does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

Contacts:
Investor Contact:
Courtney Knight
Head of Investor Relations at Cipher Mining
courtney.knight@ciphermining.com

Media Contact:
Ryan Dicovitsky / Kendal Till
Dukas Linden Public Relations
CipherMining@DLPR.com

The MIL Network –

May 21, 2025

MIL-OSI: AMD Introduces New Radeon Graphics Cards and Ryzen Threadripper Processors at COMPUTEX 2025

Source: GlobeNewswire (MIL-OSI)

– Radeon RX 9060 XT brings next-gen gaming experiences and FSR 4 ML-powered upscaling to mainstream users –

– Threadripper 9000 Series and Radeon AI PRO R9700 redefine workstation and high-end desktop performance with full-spectrum compute and local AI processing –

TAIPEI, Taiwan, May 20, 2025 (GLOBE NEWSWIRE) — At COMPUTEX 2025, AMD (NASDAQ: AMD) unveiled its latest breakthroughs in high-performance computing with the launch of Radeon™ RX 9060 XT and Radeon™ AI PRO R9700 graphics cards, and Ryzen™ Threadripper™ 9000 Series processors. Engineered to address the toughest workloads in gaming, content creation, professional industries and AI development, these new processors push the boundaries of what’s possible.

“These announcements underscore our commitment to continue delivering industry-leading innovation across our product portfolio,” said Jack Huynh, senior vice president and general manager, Computing and Graphics Group at AMD. “The Radeon RX 9060 XT and Radeon AI PRO R9700 bring the performance and AI capabilities of RDNA 4 to workstations and gamers all around the world, while our new Ryzen Threadripper 9000 Series sets the new standard for high-end desktops and professional workstations. Together, these solutions represent our vision for empowering creators, gamers, and professionals with the performance and efficiency to push boundaries and drive creativity.”

The new Radeon RX 9060 XT GPUs are powered by the advanced AMD RDNA™ 4 architecture and deliver smooth, responsive 1440p gaming with FSR 4 ML-enhanced upscaling, and accelerated ray tracing. For those who build worlds, tell stories through pixels, or chase victory in esports, these cards offer the performance and intelligence to elevate every experience.

AMD also announced the Radeon™ AI PRO R9700, a new GPU built on AMD RDNA™ 4 architecture with second-generation AMD AI accelerators. With 32GB of graphics memory and PCIe® Gen 5 support, it’s designed for local AI inference, model finetuning, and complex creative workloads, with scalability for multi-GPU systems.

AMD also introduced the Ryzen Threadripper PRO 9000 WX-Series and Ryzen Threadripper 9000 Series processors — bringing record-setting core counts, massive memory bandwidth, and next-gen platform capabilities to professional and enthusiast desktops. Whether rendering cinematic VFX, simulating real-world physics, or locally fine-tuning billion-parameter AI models, these processors are built to break bottlenecks and accelerate innovation.

AMD Powers Next-Gen Gaming Infused with AI
Designed to unlock ultra-smooth gaming at 1440p, the Radeon RX 9060 XT is built for players who expect more. Equipped with up to 16GB of GDDR6 memory and 32 AMD RDNA 4 compute units, the GPU doubles ray tracing throughput compared to the previous generation, providing gamers with more realistic lighting, shadows, and reflections that bring virtual worlds to life.

Second-generation AI accelerators power features like FidelityFX™ Super Resolution 4 (FSR 4), which uses machine learning to boost frame rates and image fidelity under even the most demanding rendering conditions. HYPR-RX delivers a full suite of optimizations, including Radeon Super Resolution and Fluid Motion Frames for lightning-fast response times and immersive, tear-free visuals. With support for FP8 data types and structured sparsity, the RX 9060 XT is ready for the next generation of AI-assisted gameplay, creative tools, and generative experiences.

Model	Compute Units	VRAM	Game Clock (GHz)	Boost Clock¹ (GHz)	Memory Interface	Infinity Cache	TBP	Price (USD SEP)
AMD Radeon™ RX 9060 XT 8GB	32	8 GB	2.53	Up to 3.13	128-bit	32 MB	Starting at 150W	$299
AMD Radeon™ RX 9060 XT 16GB	32	16 GB	2.53	Up to 3.13	128-bit	32 MB	Starting at 160W	$349

Pricing and Availability
AMD Radeon RX 9060 XT graphics cards are expected to be available from leading board partners including Acer, ASRock, ASUS, Gigabyte, PowerColor, Sapphire, Vastarmor, XFX and Yeston, beginning later this year. The AMD Radeon RX 9060 XT 8GB has an SEP of $299 USD, while the AMD Radeon RX 9060 XT 16GB has an SEP of $349 USD.

AMD Radeon AI PRO R9700: Built for AI-Powered Workstations
Professionals advancing AI development can rely on the AMD Radeon™ AI PRO R9700 to accelerate local inference, model finetuning, and other data-heavy workflows. With second-generation AI accelerators delivering up to 2x the throughput of the previous generation² and full support for the ROCm™ software stack on Linux, with support for ROCm™ on Windows coming soon, the R9700 is built for high-performance AI with on-device control and flexibility.

The Radeon AI PRO R9700 also scales effectively in multi-GPU configurations, expanding memory and compute capacity for large models and parallel tasks. This flexibility makes it ideal for advanced workstations tackling complex simulations, real-time rendering, or concurrent AI workloads.

Model	Compute Units	VRAM	Game Clock (GHz)	Boost Clock¹ (GHz)	Memory Interface	Infinity Cache	TBP
AMD Radeon™ AI PRO R9700	64	32 GB	2.35	Up to 2.92	256-bit	64 MB	300W

Pricing and Availability
The new Radeon AI PRO R9700 is expected to be available from leading board partners starting in July 2025.

Ryzen Threadripper 9000 Series Workstations Processors Redefine Performance
The new AMD Ryzen Threadripper PRO 9000 WX-Series and Threadripper 9000 Series processors are purpose-built to handle the most demanding multi-threaded workloads and empower professionals to bring complex visions to life faster than ever.

At the top of the stack, the Ryzen Threadripper PRO 9995WX offers 96 cores and 192 threads, ideal for visual effects, simulation, and AI model development. With up to 384MB of L3 cache and 128 lanes of PCIe® 5.0 connectivity, these processors make short work of large datasets, multi-GPU workloads, and memory-intensive applications. All PRO models come equipped with AMD PRO technologies for enterprise-grade security, manageability, and platform stability, helping to simplify IT operations.

For enthusiasts and creators who demand workstation-grade compute in a high-end desktop (HEDT) platform, the Ryzen Threadripper 9000 Series offers up to 64 cores, enabling efficient content creation, rapid compiling, and local AI training without the need to offload to the cloud, helping to reduce cost, latency and improve privacy.

Model	Cores/Threads	Base Frequency	Boost Frequency¹	TDP	Total Cache
AMD Ryzen™ Threadripper™ PRO 9995WX	96 C / 192 T	2.5 GHz	5.4 GHz	350W	480 MB
AMD Ryzen™ Threadripper™ PRO 9985WX	64 C / 128 T	3.2 GHz	5.4 GHz	350W	320 MB
AMD Ryzen™ Threadripper™ PRO 9975WX	32 C / 64 T	4.0 GHz	5.4 GHz	350W	160 MB
AMD Ryzen™ Threadripper™ PRO 9965WX	24 C / 48 T	4.2 GHz	5.4 GHz	350W	152 MB
AMD Ryzen™ Threadripper™ PRO 9955WX	16 C / 32 T	4.5 GHz	5.4 GHz	350W	80 MB
AMD Ryzen™ Threadripper™ PRO 9945WX	12 C / 24 T	4.7 GHz	5.4 GHz	350W	76 MB
AMD Ryzen™ Threadripper™ 9980X	64 C / 128 T	3.2 GHz	5.4 GHz	350W	320 MB
AMD Ryzen™ Threadripper™ 9970X	32 C / 64 T	4.0 GHz	5.4 GHz	350W	160 MB
AMD Ryzen™ Threadripper™ 9960X	24 C / 48 T	4.2 GHz	5.4 GHz	350W	152 MB

Pricing and Availability
The AMD Ryzen Threadripper PRO 9000 WX-Series processors are expected to be available from MNCs, including Dell, HP and Lenovo, and Supermicro, as well as system integrators starting later this year. High-end desktop platforms featuring AMD Ryzen Threadripper 9000 Series processors, as well as DIY Ryzen Threadripper 9000 Series and select Ryzen Threadripper PRO 9000 WX-Series processors, will be available from retailers starting July 2025.

AMD Continue to Deliver the Future of AI PCs
During the keynote, Jack Huynh was joined by ASUS Co-CEO S.Y. Hsu to introduce the new ASUS Expert P Series Copilot+ PCs, the next-generation commercial PCs designed to bring AI acceleration to the enterprise. Powered by up to AMD Ryzen™ AI PRO 300 Series processors, these systems offer up-to 50+ TOPS of NPU performance, enabling fast, efficient AI-enhanced productivity in top-of-the-line business platforms. Featuring AMD PRO Technologies, Ryzen AI PRO Series processors deliver the enterprise-grade security and manageability features needed for the modern IT environment.

“We’re proud to deepen our collaboration with AMD as we usher in a new era of AI-powered computing,” said S.Y. Hsu, Co-CEO of ASUS. “With the addition of the new Expert series — built from the ground up to revolutionize performance and efficiency for the modern workplace — to our broad AI PC portfolio, and commitment to innovation, we aim to deliver next-gen AI experiences that empower users everywhere.”

“At Lenovo, we’re committed to delivering AI PCs that are not only powerful, but truly personal and productive. Our long-standing collaboration with AMD continues to drive this vision forward — from high-performance laptops to innovative workstations. Together, we’re enabling faster, smarter computing experiences for every kind of user. We’re especially excited about what’s coming next in our ThinkStation P8 workstation, where AMD’s latest high-performance Ryzen Threadripper PRO processors will unlock new possibilities for creators and professionals alike,” said Luca Rossi, President, Intelligent Devices Group, Lenovo.

Supporting Resources

Learn more about AMD at COMPUTEX 2025 here
Learn more AMD Radeon Graphics cards here
Learn more about AMD FidelityFX Super Resolution here
Learn more about Adrenalin Edition AI software here
Learn more about HYPR-RX profiles here
Learn more about Radeon AI PRO Graphics cards here
Learn more about AMD Ryzen Threadripper processors here
Learn more about AMD PRO Technologies here
Follow AMD on LinkedIn
Follow AMD on X

About AMD
For more than 50 years AMD has driven innovation in high-performance computing, graphics and visualization technologies. Billions of people, leading Fortune 500 businesses and cutting-edge scientific research institutions around the world rely on AMD technology daily to improve how they live, work and play. AMD employees are focused on building leadership high-performance and adaptive products that push the boundaries of what is possible. For more information about how AMD is enabling today and inspiring tomorrow, visit the AMD (NASDAQ: AMD) website, blog, LinkedIn and X pages.

^{____________________________________________
1} Boost Clock Frequency is the maximum frequency achievable on the GPU running a bursty workload. Boost clock achievability, frequency, and sustainability will vary based on several factors, including but not limited to: thermal conditions and variation in applications and workloads. GD-151.
² Testing as of 3/11/2025 by AMD. Average performance of multiple runs for “How long would it take for a ball dropped from 10 meter height to hit the ground?“ and “Summarize the following in exactly five lines: [Insert Scene 1 Act 1 of Romeo and Juliet]”, drop edge cases where the model starts overthinking (more than 2k thinking tokens) to standardize response length. No speculative decode. All tests conducted on LM Studio 0.3.12 and Vulkan llama.cpp 1.18 with 100% GPU offload for AMD. NVIDIA-recommended CUDA llama.cpp used for RTX 4090 with NVIDIA-recommended 50% GPU offload (https://blogs.nvidia.com/blog/ai-decoded-lm-studio/). Models tested: DeepSeek R1 Qwen 32b Q8 and DeepSeek R1 Llama 70b Q4 K M. System specifications: AMD Ryzen™ 7700X, 64GB DDR5 RAM 4800 MT/s, Windows 11 24H2 26100.2894, AMD Radeon™ PRO W7900 48GB and W7800 48GB using Adrenalin 25.1.1 Optional vs AMD Ryzen™ 9800X3D, 32GB DDR5 RAM 6000 MT/s.,Windows 11 24H2 26100.2894 and NVIDIA GeForce RTX 4090. GeForce 572.70. Performance may vary. RPW-493.

Contact:
Stacy MacDiarmid
AMD Communications
+1 512-658-2265
Stacy.MacDiarmid@amd.com

Liz Stine
AMD Investor Relations
+1 720-652-3965
Liz.Stine@amd.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3fb45eaf-59b5-4ca5-af70-411984cb93a1

The MIL Network –

May 21, 2025

MIL-OSI: ASUS and AMD Jointly Unveil Full 2025 Expert P Series Lineup at AMD Keynote

Source: GlobeNewswire (MIL-OSI)

TORONTO, May 20, 2025 (GLOBE NEWSWIRE) — ASUS and AMD today jointly announced the launch of the all-new ASUS Expert P-series Copilot+ PCs at Computex 2025, spotlighting its leadership in the commercial AI PC space. Powered by the latest AMD Ryzen™ AI 300 Series processors, the new lineup includes ExpertBook P3 (PM3) laptop, ExpertCenter P700 (PM700MK, PM700SK) desktops, ExpertCenter P600 (PM640, PM670) all-in-one PCs, and ExpertCenter PN54 Mini PC.

These next-generation business devices are engineered to deliver lightning-fast AI computing, seamless productivity, and enhanced security for working professionals — all within a future-ready, sustainable design.

“We’re proud to deepen our collaboration with AMD as we usher in a new era of AI-powered computing. At ASUS, we believe AI will fundamentally transform the PC — from system architecture to real-world applications,” said S.Y. Hsu, ASUS Co-CEO. “With the addition of the new Expert series — built from the ground up to revolutionize performance and efficiency for the modern workplace — to our broad AI PC portfolio, and commitment to innovation, we aim to deliver next-gen AI experiences that empower users everywhere.”

ASUS ExpertBook P3 series

Leading the charge is the ExpertBook P3 Series, the fastest ASUS ExpertBook AI PC to date. Available in 14-inch (PM3406) and 16-inch (PM3606) variants, ExpertBook P3 is powered by up to AMD Ryzen™ AI PRO 7 processors and offers up to 66 total TOPS of AI performance. It features ExpertCool thermal technology that keeps its cool whether opened or closed, a full metal chassis, and a full array of I/O ports positioned to enhance comfort and mouse movement.

AMD Ryzen PRO processors provide business users with 18 months of planned software stability, 24 months of planned availability, and a rigorous platform validation process to ensure long-term quality.

ASUS ExpertCenter P600 series

The ExpertCenter P600 series represents the first Copilot+ PC all-in-one from ASUS, available in both 24-inch (PM640) and 27-inch screen (PM670) sizes. Designed for privacy and performance, P600 delivers up to 50 TOPS of dedicated NPU power for real-time content creation, and includes a retractable camera, wide-view FHD touchscreen, and business-grade durability. Microsoft Copilot is integrated for seamless collaboration.

ASUS ExpertCenter P700 series

Similarly, the ExpertCenter P700 series debuts as the first Copilot+ PC desktop from ASUS, offered in mini tower (PM700MK) and small-form factor (PM700SK) options. With up to 50 TOPS of AI compute power, a tool-free chassis, and MIL-STD-810H durability, it’s built to power through every business scenario.

ASUS ExpertCenter PN54 Mini PC

Completing the P series is the ExpertCenter PN54 Mini PC, which brings Copilot+ capabilities to a palm-sized form factor, making it the ideal solution for space-constrained environments such as kiosks, retail setups, and minimalist workstations. Despite its compact design, PN54 delivers robust performance and AI acceleration, enabling smarter workflows and seamless multitasking in any setting.

Comprehensive AI tools and enterprise-grade security

All ASUS ExpertBook and ExpertCenter P-series models come equipped with ASUS AI ExpertMeet and ASUS ExpertGuardian — powerful tools that are available today to enhance collaboration and ensure business-grade protection.

AI ExpertMeet is our exclusive on-device assistant that elevates meeting experiences with AI-powered translation, meeting transcript and summary. ExpertGuardian provides all-around protection from hardware and software to firmware. P-series machines are also engineered with a commercial-grade, NIST SP 800-155-compliant BIOS, built-in TPM 2.0 and five years of ASUS BIOS and driver-updates support, offering layered security from software to firmware to hardware.

ASUS also offers all-around and added-value support for businesses of all sizes to maximize efficiency and minimize IT-management overhead. Our flexibility, world-class experience and instant support lets you focus on growing your business to incredible heights.

AVAILABILITY & PRICING

The new ASUS ExpertBook P3 powered by up to the AMD Ryzen™ AI PRO 7 processors are expected to be available in Canada starting from late Q3 2025.

The new ExpertCenter P series with the new AMD Ryzen™ AI 300 Series processors is expected to be available in Canada in early Q1 2026.

Please contact your local ASUS representative for further information.

NOTES TO EDITORS

ASUS ExpertBook laptops: https://www.asus.com/ca-en/business/laptops/expertbook/

ASUS ExpertCenter desktops: https://www.asus.com/ca-en/displays-desktops/tower-pcs/expertcenter/

ASUS Business website: https://www.asus.com/ca-en/business/

ASUS LinkedIn: https://www.linkedin.com/company/asus/posts/

ASUS Business LinkedIn: https://www.linkedin.com/showcase/asus-business/

ASUS Pressroom: http://press.asus.com

ASUS Canada Facebook: https://www.facebook.com/asuscanada/

ASUS Canada Instagram: https://www.instagram.com/asus_ca

ASUS Canada YouTube: https://ca.asus.click/youtube

ASUS Global X (Twitter): https://www.x.com/asus

About ASUS

ASUS is a global technology leader that provides the world’s most innovative and intuitive devices, components, and solutions to deliver incredible experiences that enhance the lives of people everywhere. With its team of 5,000 in-house R&D experts, the company is world-renowned for continuously reimagining today’s technologies. Consistently ranked as one of Fortune’s World’s Most Admired Companies, ASUS is also committed to sustaining an incredible future. The goal is to create a net zero enterprise that helps drive the shift towards a circular economy, with a responsible supply chain creating shared value for every one of us.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1f3f4814-2879-465c-823a-62d00d90bcc9

The MIL Network –

May 21, 2025
MIL-OSI: O2Gold Provides Update on Quebec Aur Transaction

Source: GlobeNewswire (MIL-OSI)

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

TORONTO, May 20, 2025 (GLOBE NEWSWIRE) — O2Gold Inc. (NEX:OTGO.H) (“O2Gold” or the “Company”) is pleased to provide an additional update on its pending acquisition of a gold mining exploration property in Quebec through the purchase of all of the issued and outstanding shares of Quebec Aur Ltd. (the “Target”) pursuant to a share exchange agreement entered into by the Company with the Target and its shareholders dated April 15, 2024, as amended November 14, 2024 (the “Acquisition”).

The Company received an extension from the TSX Venture Exchange to close its previously announced non-brokered private placement financing of 14 million units and 16 million flow-through common shares for aggregate gross proceeds to the Company of $1.5 million (the “Offering”). The Company now has until June 23, 2025, to close the Offering, which, for clarity, shall not be for less than aggregate gross proceeds of $1.5 million.

The parties are working diligently to complete the remaining legal formalities in relation to the Acquisition, which is now expected to close in mid-2025, subject to the satisfaction or waiver of certain conditions. The Acquisition is more fully described in the Company’s press releases dated April 15, 2024, April 23, 2024, April 24, 2024, May 30, 2024, and August 23, 2024, as well as the Company’s management information circular (the “Circular”) which was mailed to shareholders of record as of August 26, 2024. The Offering is more fully described in the Company’s press release dated April 8, 2025. The press releases and Circular are available under O2Gold’s profile on SEDAR+ at www.sedarplus.ca.

About O2Gold

O2Gold is a mineral exploration company.

For additional information, please contact:

Scott Moore, Chief Executive Officer
Phone: (416) 861-1685
Email: smoore@miningsm.com

Regulatory Statements

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the Offering and Acquisition, including closing conditions and timing, and other matters related thereto. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information, including but not limited to: receipt of necessary approvals; general business, economic, competitive, political and social uncertainties; future mineral prices and market demand; accidents, labour disputes and shortages and other risks of the mining industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

The MIL Network –

May 21, 2025
MIL-OSI: Honoring Governor Kit Bond: Founding Governor of MOHELA and Champion of Higher Education

Source: GlobeNewswire (MIL-OSI)

CHESTERFIELD, Mo., May 20, 2025 (GLOBE NEWSWIRE) — The Higher Education Loan Authority of Missouri (MOHELA) joins the state and nation in mourning the passing of Governor Christopher “Kit” Bond, who died on May 13, 2025, at the age of 86. Governor Bond’s visionary leadership and enduring commitment to public service were instrumental in the creation of MOHELA, which he signed into law in 1981.

As a dedicated public servant, Kit Bond recognized the transformative power of education. The establishment of MOHELA reflected a bold commitment to expanding access to higher education for Missouri students. Over the past four decades, MOHELA has helped millions of students and families manage the cost of college, thanks to the foundation Governor Bond laid.

“Governor Bond’s legacy is deeply woven into the fabric of MOHELA,” said Scott Giles, Executive Director and CEO of MOHELA. “His belief in the importance of education and opportunity continues to guide our mission every day. We are forever grateful for his leadership and vision.”

Governor Bond’s distinguished career included two terms as Missouri’s governor and four terms in the U.S. Senate. He was widely respected for his bipartisan approach and his work on issues ranging from education and infrastructure to national security and economic development. Further, Governor Bond was noteworthy for fighting for the interests and improving the lives of Missourians.

MOHELA extends its deepest condolences to Governor Bond’s family and loved ones. His legacy lives on in the students we serve and the futures we help build.

About MOHELA
MOHELA is a non-profit, governmental corporation with 40 years of experience and a track record of providing exceptional customer service to the borrowers it serves. MOHELA plays an essential role in the student loan ecosystem, providing support and assistance for around 9 million borrowers.

The MIL Network –

May 21, 2025
MIL-OSI: LeddarTech Provides Update on Financial Situation and Announces Workforce Reduction

Source: GlobeNewswire (MIL-OSI)

QUEBEC CITY, Canada, May 20, 2025 (GLOBE NEWSWIRE) — LeddarTech ^® Holdings Inc. (“LeddarTech” or the “Company”) (Nasdaq: LDTC), an AI-powered software company recognized for its innovation in advanced driver assistance systems (ADAS) and autonomous driving (AD), today provided an update regarding its discussions with its lenders under the amended and restated financing offer dated as of April 5, 2023 with Fédération des caisses Desjardins du Québec (“Desjardins” and the financing offer, as amended, the “Desjardins Credit Facility”) and the bridge financing offer dated as of August 16, 2024 with the initial bridge lenders and certain members of management and the board of directors (collectively, the “Bridge Lenders”, and the financing offer, the “Bridge Facility”). While the Company continues to be in active discussions with Desjardins and its Bridge Lenders, it has not reached an agreement providing for additional financing for the Company or relief from the minimum cash, equity financing and process plan covenants contained in the Desjardins Credit Facility and Bridge Facility.

In an effort to preserve cash and afford the Company additional time to pursue discussions with its lenders, the Company also announced a reduction of its workforce through temporary layoffs of approximately 138 individuals, in all of its locations and across all departments within the organization, representing approximately 95% of the Company’s total workforce. Such measure will provide the Company with additional time to continue to actively evaluate potential alternatives relating to a restructuring of its obligations, a sale of the business or certain of its assets, strategic investments and/or any other alternatives, including seeking creditor protection under the Companies’ Credit Arrangement Act. There can be no assurance that the Company will be successful in pursuing and implementing any such alternatives, nor any assurance as to the outcome or timing of any such alternatives.

About LeddarTech

A global software company founded in 2007 and headquartered in Quebec City with additional R&D centers in Montreal and Tel Aviv, Israel, LeddarTech develops and provides comprehensive AI-based low-level sensor fusion and perception software solutions that enable the deployment of ADAS, autonomous driving (AD) and parking applications. LeddarTech’s automotive-grade software applies advanced AI and computer vision algorithms to generate accurate 3D models of the environment to achieve better decision making and safer navigation. This high-performance, scalable, cost-effective technology is available to OEMs and Tier 1-2 suppliers to efficiently implement automotive and off-road vehicle ADAS solutions.

LeddarTech is responsible for several remote-sensing innovations, with over 190 patent applications (112 granted) that enhance ADAS, AD and parking capabilities. Better awareness around the vehicle is critical in making global mobility safer, more efficient, sustainable and affordable: this is what drives LeddarTech to seek to become the most widely adopted sensor fusion and perception software solution.

Additional information about LeddarTech is accessible at www.leddartech.com and on LinkedIn, Twitter (X), Facebook and YouTube.

Forward-Looking Statements

Certain statements contained in this Press Release may be considered forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (which forward-looking statements also include forward-looking statements and forward-looking information within the meaning of applicable Canadian securities laws), including, but not limited to, statements relating to LeddarTech’s selection by the OEM referred to above, anticipated strategy, future operations, prospects, objectives and financial projections and other financial metrics, as well as expectations regarding the anticipated performance, adoption and commercialization of its products. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “may,” “will,” “should,” “would,” “expect,” “anticipate,” “plan,” “likely,” “believe,” “estimate,” “project,” “intend” and other similar expressions among others. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation, our ability to continue to maintain compliance with Nasdaq continued listing standards following our transfer to the Nasdaq Capital Market, as well as: (i) the risk that LeddarTech and the OEM referred to above are unable to agree to final terms in definitive agreements; (ii) the volume of future orders (if any) from this OEM, actual revenue derived from expected orders, and timing of revenue, if any; (iii) our ability to timely access sufficient capital and financing on favorable terms or at all; (iv) our ability to maintain compliance with our debt covenants, including our ability to enter into any forbearance agreements, waivers or amendments with, or obtain other relief from, our lenders as needed; (v) our ability to execute on our business model, achieve design wins and generate meaningful revenue; (vi) our ability to successfully commercialize our product offering at scale, whether through the collaboration agreement with Texas Instruments, a collaboration with a Tier 2 supplier or otherwise; (vii) changes in our strategy, future operations, financial position, estimated revenues and losses, projected costs and plans; (viii) changes in general economic and/or industry-specific conditions; (ix) our ability to retain, attract and hire key personnel; (x) potential adverse changes to relationships with our customers, employees, suppliers or other parties; (xi) legislative, regulatory and economic developments; (xii) the outcome of any known and unknown litigation and regulatory proceedings; (xiii) unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism, outbreak of war or hostilities and any epidemic, pandemic or disease outbreak, as well as management’s response to any of the aforementioned factors; and (xiv) other risk factors as detailed from time to time in LeddarTech’s reports filed with the U.S. Securities and Exchange Commission (the “SEC”), including the risk factors contained in LeddarTech’s Form 20-F filed with the SEC. The foregoing list of important factors is not exhaustive. Except as required by applicable law, LeddarTech does not undertake any obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:
Chris Stewart, Chief Financial Officer, LeddarTech Holdings Inc.
Tel.: + 1-514-427-0858, chris.stewart@leddartech.com

Leddar, LeddarTech, LeddarVision, LeddarSP, VAYADrive, VayaVision and related logos are trademarks or registered trademarks of LeddarTech Holdings Inc. and its subsidiaries. All other brands, product names and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.

LeddarTech Holdings Inc. is a public company listed on the Nasdaq under the ticker symbol “LDTC.”

The MIL Network –

May 21, 2025

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

Source: GlobeNewswire (MIL-OSI)

TORONTO, May 20, 2025 (GLOBE NEWSWIRE) — Purpose Investments Inc. (“Purpose”) is pleased to announce distributions for the month of May 2025 for its open-end exchange traded funds and closed-end funds (“the Funds”).

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

Open-End Funds	Ticker Symbol	Distribution per share/unit	Record Date	Payable Date	Distribution Frequency
Apple (AAPL) Yield Shares Purpose ETF – ETF Units	APLY	$0.1667	05/28/2025	06/03/2025	Monthly
Purpose Canadian Financial Income Fund – ETF Series	BNC	$0.1225¹	05/28/2025	06/03/2025	Monthly
Berkshire Hathaway (BRK) Yield Shares Purpose ETF – ETF Units	BRKY	$0.1000	05/28/2025	06/03/2025	Monthly
Purpose Bitcoin Yield ETF – ETF Units	BTCY	$0.0850	05/28/2025	06/03/2025	Monthly
Purpose Bitcoin Yield ETF – ETF Non-Currency Hedged Units	BTCY.B	$0.0970	05/28/2025	06/03/2025	Monthly
Purpose Bitcoin Yield ETF – ETF USD Units	BTCY.U	US $0.0815	05/28/2025	06/03/2025	Monthly
Purpose Credit Opportunities Fund – ETF Units	CROP	$0.0875	05/28/2025	06/03/2025	Monthly
Purpose Credit Opportunities Fund – ETF USD Units	CROP.U	US $0.0975	05/28/2025	06/03/2025	Monthly
Purpose Ether Yield – ETF Units	ETHY	$0.0405	05/28/2025	06/03/2025	Monthly
Purpose Ether Yield ETF – ETF Non-Currency Hedged Units	ETHY.B	$0.0500	05/28/2025	06/03/2025	Monthly
Purpose Ether Yield ETF – ETF Units Non-Currency Hedged USD Units	ETHY.U	US $0.0395	05/28/2025	06/03/2025	Monthly
Purpose Global Flexible Credit Fund – ETF Units	FLX	$0.0461	05/28/2025	06/03/2025	Monthly
Purpose Global Flexible Credit Fund – Non-Currency Hedged – ETF Units	FLX.B	$0.0551	05/28/2025	06/03/2025	Monthly
Purpose Global Flexible Credit Fund – Non-Currency Hedged USD – ETF Units	FLX.U	US $0.0385	05/28/2025	06/03/2025	Monthly
Purpose Global Bond Class – ETF Units	IGB	$0.0860¹	05/28/2025	06/03/2025	Monthly
Microsoft (MSFT) Yield Shares Purpose ETF – ETF units	MSFY	$0.1100	05/28/2025	06/03/2025	Monthly
Purpose Enhanced Premium Yield Fund – ETF Series	PAYF	$0.1375¹	05/28/2025	06/03/2025	Monthly
Purpose Total Return Bond Fund – ETF Series	PBD	$0.0590¹	05/28/2025	06/03/2025	Monthly
Purpose Core Dividend Fund – ETF Series	PDF	$0.1050¹	05/28/2025	06/03/2025	Monthly
Purpose Enhanced Dividend Fund – ETF Series	PDIV	$0.0950¹	05/28/2025	06/03/2025	Monthly
Purpose Real Estate Income Fund – ETF Series	PHR	$0.0720¹	05/28/2025	06/03/2025	Monthly
Purpose International Dividend Fund – ETF Series	PID	$0.0780	05/28/2025	06/03/2025	Monthly
Purpose Monthly Income Fund – ETF Series	PIN	$0.0830¹	05/28/2025	06/03/2025	Monthly
Purpose Multi-Asset Income Fund – ETF Units	PINC	$0.0840	05/28/2025	06/03/2025	Monthly
Purpose Conservative Income Fund – ETF Series	PRP	$0.0600¹	05/28/2025	06/03/2025	Monthly
Purpose Premium Yield Fund – ETF Series	PYF	$0.1100¹	05/28/2025	06/03/2025	Monthly
Purpose Premium Yield Fund Non-Currency Hedged – ETF Series	PYF.B	$0.1230¹	05/28/2025	06/03/2025	Monthly
Purpose Premium Yield Fund Non-Currency Hedged – ETF USD Series	PYF.U	US $0.1200¹	05/28/2025	06/03/2025	Monthly
Purpose Core Equity Income Fund – ETF Series	RDE	$0.0875¹	05/28/2025	06/03/2025	Monthly
Purpose Emerging Markets Dividend Fund – ETF Units	REM	$0.0950	05/28/2025	06/03/2025	Monthly
Purpose Canadian Preferred Share Fund – ETF Units	RPS	$0.0950	05/28/2025	06/03/2025	Monthly
Purpose US Preferred Share Fund – ETF Series	RPU	$0.0940	05/28/2025	06/03/2025	Monthly
Purpose US Preferred Share Fund Non-Currency Hedged – ETF Units²	RPU.B / RPU.U	$0.0940	05/28/2025	06/03/2025	Monthly
Purpose Strategic Yield Fund – ETF Units	SYLD	$0.0970	05/28/2025	06/03/2025	Monthly
AMD (AMD) Yield Shares Purpose ETF – ETF Series	YAMD	$0.2000	05/28/2025	06/03/2025	Monthly
Amazon (AMZN) Yield Shares Purpose ETF- ETF Units	YAMZ	$0.4000	05/28/2025	06/03/2025	Monthly
Broadcom (AVGO) Yield Shares Purpose ETF – ETF Series	YAVG	$0.1500	05/28/2025	06/03/2025	Monthly
Coinbase (COIN) Yield Shares Purpose ETF – ETF Series	YCON	$0.3000	05/28/2025	06/03/2025	Monthly
Costco (COST) Yield Shares Purpose ETF – ETF Series	YCST	$0.1000	05/28/2025	06/03/2025	Monthly
Alphabet (GOOGL) Yield Shares Purpose ETF – ETF Units	YGOG	$0.2500	05/28/2025	06/03/2025	Monthly
Tech Innovators Yield Shares Purpose ETF – ETF Series	YMAG	$0.2000	05/28/2025	06/03/2025	Monthly
META (META) Yield Shares Purpose ETF – ETF Series	YMET	$0.1600	05/28/2025	06/03/2025	Monthly
Netflix (NFLX) Yield Shares Purpose ETF – ETF Series	YNET	$0.1100	05/28/2025	06/03/2025	Monthly
NVIDIA (NVDA) Yield Shares Purpose ETF – ETF Units	YNVD	$0.7500	05/28/2025	06/03/2025	Monthly
Palantir (PLTR) Yield Shares Purpose ETF – ETF Series	YPLT	$0.2500	05/28/2025	06/03/2025	Monthly
Tesla (TSLA) Yield Shares Purpose ETF – ETF Units	YTSL	$0.5500	05/28/2025	06/03/2025	Monthly
UnitedHealth Group (UHN) Yield Shares Purpose ETF – ETF Series	YUNH	$0.1100	05/28/2025	06/03/2025	Monthly

Closed-End Funds	Ticker Symbol	Distribution per share/unit	Record Date	Payable Date	Distribution Frequency
Big Banc Split Corp, Class A	BNK	$0.1200¹	05/30/2025	06/13/2025	Monthly
Big Banc Split Corp – Preferred Shares	BNK.PR.A	$0.0700¹	05/30/2025	06/13/2025	Monthly

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

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

Open-End Fund	Ticker Symbol	Final distribution per unit	Record Date	Payable Date	Distribution Frequency
Purpose USD Cash Management Fund – ETF Units	MNU.U	US $ 0.3528	05/28/2025	06/03/2025	Monthly
Purpose Cash Management Fund – ETF Units	MNY	$0.2370	05/28/2025	06/03/2025	Monthly
Purpose High Interest Savings Fund – ETF Units	PSA	$0.1068	05/28/2025	06/03/2025	Monthly
Purpose US Cash Fund – ETF Units	PSU.U	US $ 0.3495	05/28/2025	06/03/2025	Monthly

Purpose expects to issue a press release on or about May 27, 2025, which will provide the final distribution rate for Purpose USD Cash Management Fund, Purpose Cash Management Fund, Purpose High Interest Savings Fund, and Purpose US Cash Fund. The ex-distribution date will be May 28, 2025.

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

About Purpose Investments Inc.

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

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

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

The MIL Network –

May 21, 2025

MIL-OSI: Partners Value Investments L.P. Announces Q1 2025 Interim Results

Source: GlobeNewswire (MIL-OSI)

TORONTO, May 20, 2025 (GLOBE NEWSWIRE) — Partners Value Investments L.P. (the “Partnership”, TSX: PVF.UN TSX:PVF.PR.U) announced today its financial results for the three months ended March 31, 2025. All amounts are stated in U.S. dollars.

The Partnership recorded net income of $24.6 million for the three months ended March 31, 2025, compared to net income of $26.3 million in the prior year quarter. Net income was in line with the prior year quarter as higher investment income and valuation gains were offset by the absence of foreign currency gains and tax recoveries recognized in the prior year quarter. Income of $22.2 million was attributable to the Equity Limited Partners ($0.32 per Equity LP unit) and income of $2.4 million was attributable to Preferred Limited Partners.

As at March 31, 2025, the market prices of a Brookfield Corporation (“BN”, NYSE/TSX: BN) and Brookfield Asset Management Ltd. (“BAM”, NYSE/TSX: BAM) share were $52.41 and $48.45, respectively. As at May 20, 2025, the market prices of a BN and BAM share were $58.98 and $58.82, respectively.

Consolidated Statements of Operations

(Unaudited) For the three months ended March 31 (Thousands, US dollars)
		2025			2024
Investment income
Dividends	$	26,559		$	24,027
Other investment income		7,179			4,035
		33,738			28,062
Expenses
Operating expenses		(1,352	)		(2,437	)
Financing costs		(2,417	)		(2,481	)
Retractable preferred share dividends		(10,041	)		(9,736	)
		(13,810	)		(14,654	)

Other items
Investment valuation gains		7,212			924
Amortization of deferred financing costs		(912	)		(884	)
Foreign currency (losses) gains		(124	)		8,899
Current taxes (expense) recovery		(361	)		8,069
Deferred taxes expense		(1,102	)		(4,158	)
Net income	$	24,641		$	26,258

The information in the following table shows the changes in net book value:

(Unaudited) For the three months ended March 31 (Thousands, except per unit amounts)	2025					2024
		Total			Per Unit		Total			Per Unit
Net book value, beginning of period¹	$	8,375,682		$	102.80	$	5,783,620		$	70.74
Net income²		22,220					24,714
Other comprehensive (loss) income²		(828,447	)				290,050
Adjustment for impact of warrants¹		(173	)				(6,120	)
Equity LP repurchases		(2,438	)				(3,617	)
Net book value, end of period³	$	7,566,844		$	96.32	$	6,088,647		$	74.52

Calculated on a fully diluted basis. Net book value is a non‐IFRS measure used by management to measure the value of an Equity LP unit on a fully diluted basis. It is equal to total equity less General Partner equity, Preferred Limited Partners’ equity, non-controlling interests’ equity plus the value of consideration to be received on exercising of warrants, which as at March 31, 2025, was $114 million (December 31, 2024 – $114 million).
Attributable to Equity Limited Partners.
At the end of the period, the diluted Equity LP units outstanding were 78,560,143 (December 31, 2024 – 81,474,610); this includes 2,702,321
(December 31, 2024 – 5,640,600) Equity LP units exchangeable on a one-for-one basis with shares of a non-wholly owned subsidiary, and units issued through the exercise of all outstanding warrants; including 585,938 (December 31, 2024 – 585,938) warrants held by partially-owned subsidiaries of the Partnership.

Financial Profile

The Partnership’s principal investments are its interest in approximately 121 million Class A Limited Voting Shares of BN and approximately 31 million Class A Limited Voting Shares of BAM. This represents approximately an 8% interest in BN and a 2% interest in BAM as at March 31, 2025. In addition, the Partnership owns a diversified investment portfolio of marketable securities and private fund interests.

The information in the following table has been extracted from the Partnership’s Consolidated Statements of Financial Position:

Consolidated Statements of Financial Position

(Unaudited) As at (Thousands, US dollars)		March 31, 2025		December 31, 2024
Assets
Cash and cash equivalents	$	308,077	$	156,977
Accounts receivable and other assets		54,375		48,924
Investment in Brookfield Corporation¹		6,339,885		6,949,656
Investment in Brookfield Asset Management Ltd.²		1,492,635		1,669,488
Investment in Brookfield Wealth Solutions Ltd.³		428,584		471,787
Other investments carried at fair value		346,818		343,090
	$	8,970,374	$	9,639,922
Liabilities and equity
Accounts payable and other liabilities	$	44,194	$	42,055
Corporate borrowings		208,094		208,168
Preferred shares⁴		1,074,573		939,057
Deferred tax liability		9,469		7,933
		1,336,330		1,197,213
Equity
Equity Limited Partners		7,452,974		8,261,639
Preferred Limited Partners		152,040		152,040
Non-controlling interests		29,030		29,030
		7,634,044		8,442,709
	$	8,970,374	$	9,639,922

The investment in Brookfield Corporation (“BN”) consists of 121 million BN shares with a quoted market value of $52.41 per share as at March 31, 2025 (December 31, 2024 – $57.45).
The investment in Brookfield Asset Management Ltd. (“BAM”) consists of 31 million BAM shares with a quoted market value of $48.45 per share as at March 31, 2025 (December 31, 2024 – $54.19).
Brookfield Wealth Solutions Ltd. (“BWS”) Class A shares are exchangeable into BN Class A shares on a one-for-one basis.
Represents $851 million of retractable preferred shares less $12 million of unamortized issue costs as at March 31, 2025 (December 31, 2024 – $712 million less $9 million) and $236 million of three series of preferred shares (December 31, 2024 – $236 million).

For further information, contact Investor Relations at ir@pvii.ca or 416-643-7621.

Note: This news release contains “forward-looking information” within the meaning of Canadian provincial securities laws and “forward-looking statements” within the meaning of applicable Canadian securities regulations. The words “potential” and “estimated” and other expressions which are predictions of or indicate future events, trends or prospects and which do not relate to historical matters, identify forward-looking information.

Although the Partnership believes that its anticipated future results, performance or achievements expressed or implied by the forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on forward-looking statements and information because they involve known and unknown risks, uncertainties and other factors, many of which are beyond its control, which may cause the actual results, performance or achievements of the Partnership to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements and information.

Factors that could cause actual results to differ materially from those contemplated or implied by forward‐looking statements and information include, but are not limited to: the financial performance of Brookfield Corporation, the impact or unanticipated impact of general economic, political and market factors; the behavior of financial markets, including fluctuations in interest and foreign exchanges rates; limitations on the liquidity of our investments; global equity and capital markets and the availability of equity and debt financing and refinancing within these markets; strategic actions including dispositions; changes in accounting policies and methods used to report financial condition (including uncertainties associated with critical accounting assumptions and estimates); the effect of applying future accounting changes; business competition; operational and reputational risks; technological change; changes in government regulation and legislation; changes in tax laws; risks associated with the use of financial leverage; catastrophic events, such as earthquakes and hurricanes; the possible impact of international conflicts and other developments including terrorist acts; and other risks and factors detailed from time to time in the Partnership’s documents filed with the securities regulators in Canada.

The Partnership cautions that the foregoing list of important factors that may affect future results is not exhaustive. When relying on the Partnership’s forward-looking statements and information, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Except as required by law, the Partnership undertakes no obligation to publicly update or revise any forward-looking statements and information, whether written or oral, that may be as a result of new information, future events or otherwise.

The MIL Network –

May 21, 2025

MIL-OSI: Partners Value Investments Inc. Announces Q1 2025 Interim Results

Source: GlobeNewswire (MIL-OSI)

TORONTO, May 20, 2025 (GLOBE NEWSWIRE) — Partners Value Investments Inc. (the “Company”, TSX: PVF.WT, PVF.PR.V, PVF.A) announced today its financial results for the three months ended March 31, 2025. All amounts are stated in U.S. dollars.

The Company recorded net income of $972 million for the three months ended March 31, 2025, compared to a net loss of $175 million in the prior year quarter. The increase in income was primarily due to current period remeasurement gains of $953 million associated with the retractable common shares compared to remeasurement losses of $214 million in the prior year quarter. The Company’s retractable common shares are classified as liabilities due to their cash retraction feature. The remeasurement gains or losses in a given period are driven by the respective depreciation or appreciation of the Partnership unit price as the retractable shares are recognized at fair value based on the quoted price of the Partnership’s Equity LP units. During the quarter, the Partnership unit price decreased by $13.71 compared to an increase of $3.11 in the prior year quarter.

Excluding retractable share and warrant liability remeasurement gains and losses, and dividends paid on retractable shares, Adjusted Earnings for the Company was $30 million for the three months ended March 31, 2025, compared to Adjusted Earnings of $34 million in the prior year quarter. Adjusted Earnings were lower in the current quarter as higher investment income and valuations gains were more than offset by the absence of foreign currency gains and tax recoveries recognized in the prior year quarter.

Consolidated Statements of Operations

(Unaudited) For the three months ended March 31 (Thousands, US dollars)
		2025			2024
Investment income
Dividends	$	30,125		$	26,685
Other investment income		7,177			4,035
		37,302			30,720
Expenses
Operating expenses		(1,131	)		(2,150	)
Financing costs		(10,062	)		(8,179	)
Retractable preferred share dividends		(8,380	)		(8,240	)
		(19,573	)		(18,569	)
Other items
Investment valuation gains		7,212			924
Retractable share remeasurement gains (losses)		952,569			(213,630	)
Warrant liability remeasurement (losses) gains		(3,267	)		9,926
Amortization of deferred financing costs		(912	)		(884	)
Foreign currency gain		115			12,453
Current tax (expense) recovery		(361	)		8,069
Deferred tax expense		(1,102	)		(4,158	)
Net income (loss)	$	971,983		$	(175,149	)

Financial Profile

The Company’s principal investments are its interest in 121 million Class A Limited Voting Shares of BN and approximately 31 million Class A Limited Voting Shares of BAM. This represents approximately an 8% interest in BN and a 2% interest in BAM as at March 31, 2025. In addition, the Company owns a diversified investment portfolio of marketable securities and private fund interests.

The information in the following table has been extracted from the Company’s Consolidated Statements of Financial Position:

Consolidated Statements of Financial Position

(Unaudited) As at (Thousands, US dollars)		March 31, 2025			December 31, 2024
Assets
Cash and cash equivalents	$	308,044		$	156,952
Accounts receivable and other assets		77,882			69,776
Investment in Brookfield Corporation ¹		6,339,885			6,949,656
Investment in Brookfield Asset Management Ltd.²		1,492,635			1,669,488
Investment in Brookfield Wealth Solutions Ltd.³		428,460			471,651
Other investments carried at fair value		655,069			669,397
	$	9,301,975		$	9,986,920
Liabilities and Equity
Accounts payable and other liabilities	$	44,964		$	42,824
Corporate borrowings		208,094			208,168
Preferred shares⁴		838,560			703,044
Retractable common shares		6,360,356			7,312,467
Exchangeable shares		282,186			—
Warrant liability		497,252			494,710
Deferred tax liability		9,469			7,933
		8,240,881			8,769,146
Equity
Accumulated deficit		(6,130,077	)		(6,821,786	)
Accumulated other comprehensive income		7,181,112			8,027,580
Non-controlling interests		10,059			11,980
	$	9,301,975		$	9,986,920

The investment in Brookfield Corporation (“BN”) consists of 121 million BN shares with a quoted market value of $52.41 per share as at March 31, 2025 (December 31, 2024 – $57.45).
The investment in Brookfield Asset Management Ltd. (“BAM”) consists of 31 million BAM shares with a quoted market value of $48.45 per share as at March 31, 2025 (December 31, 2024 – $54.19).
Brookfield Wealth Solutions Ltd. (“BWS”) Class A shares are exchangeable into BN Class A shares on a one-for-one basis.
Represents $851 million of retractable preferred shares less $12 million of unamortized issue costs as at March 31, 2025
(December 31, 2024 – $712 million less $9 million).

For further information, contact Investor Relations at ir@pvii.ca.

Although the Company believes that its anticipated future results, performance or achievements expressed or implied by the forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on forward-looking statements and information because they involve known and unknown risks, uncertainties and other factors, many of which are beyond its control, which may cause the actual results, performance or achievements of the Company to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements and information.

Factors that could cause actual results to differ materially from those contemplated or implied by forward‐looking statements and information include, but are not limited to: the financial performance of Brookfield Corporation, the impact or unanticipated impact of general economic, political and market factors; the behavior of financial markets, including fluctuations in interest and foreign exchanges rates; limitations on the liquidity of our investments; global equity and capital markets and the availability of equity and debt financing and refinancing within these markets; strategic actions including dispositions; changes in accounting policies and methods used to report financial condition (including uncertainties associated with critical accounting assumptions and estimates); the effect of applying future accounting changes; business competition; operational and reputational risks; technological change; changes in government regulation and legislation; changes in tax laws; risks associated with the use of financial leverage; catastrophic events, such as earthquakes and hurricanes; the possible impact of international conflicts and other developments including terrorist acts; and other risks and factors detailed from time to time in the Company’s documents filed with the securities regulators in Canada.

The Company cautions that the foregoing list of important factors that may affect future results is not exhaustive. When relying on the Company’s forward-looking statements and information, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Except as required by law, the Company undertakes no obligation to publicly update or revise any forward-looking statements and information, whether written or oral, that may be as a result of new information, future events or otherwise.

The MIL Network –

May 21, 2025

MIL-OSI: Sizzle Acquisition Corp. II Announces the Separate Trading of its Class A Ordinary Shares and Rights, Commencing May 23, 2025

Source: GlobeNewswire (MIL-OSI)

New York, NY, May 20, 2025 (GLOBE NEWSWIRE) — Sizzle Acquisition Corp. II (Nasdaq: SZZLU) (the “Company”) announced today that, commencing May 23, 2025, holders of the units sold in the Company’s initial public offering may elect to separately trade the Company’s Class A ordinary shares and rights included in the units. The Class A ordinary shares and rights that are separated will trade on the Nasdaq Global Market under the symbols “SZZL” and “SZZLR,” respectively. Those units not separated will continue to trade on the Nasdaq Global Market under the symbol “SZZLU.”

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities of the Company, 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 Sizzle Acquisition Corp. II

Sizzle Acquisition Corp. II is a special purpose acquisition company incorporated under the laws of Cayman Islands for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company may pursue an acquisition opportunity in any business or industry or at any stage of its corporate evolution but will focus on the industries of restaurant, hospitality, food and beverage, retail, consumer, food and food related technology, real estate industries such as “proptech”, mining, professional sports teams, airlines and technology, including sectors that service or are connected to these industries in the United States and other developed countries. The Company intends to pursue completing a business combination with an established business of scale poised for continued growth, led by a highly regarded management team.

Forward-Looking Statements

This press release may include, and oral statements made from time to time by representatives of the Company may include, “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. Statements regarding possible business combinations and the financing thereof, and related matters, as well as all other statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company’s filings with the Securities and Exchange Commission (“SEC”). All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus for the Company’s initial public offering filed with the SEC and in all other filings made by the Company with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Company Contact

Sizzle Acquisition Corp. II

Sheena Lajoie

sl@sizzlespac.com

The MIL Network –

May 21, 2025
MIL-OSI: Columbia Graduate School of Business in Conjunction With Gabelli Funds Selects Jennifer A. Wallace 2025 Recipient of Graham & Dodd, Murray, Greenwald Prize

Source: GlobeNewswire (MIL-OSI)

GREENWICH, Conn., May 20, 2025 (GLOBE NEWSWIRE) — Gabelli Funds announces Jennifer A. Wallace as the 2025 recipient of the Graham & Dodd, Murray, Greenwald Prize for Value Investing. She was presented with the Prize at the firm’s fortieth client conference on Friday, May 16^th in New York.

In announcing Jennifer Wallace as the 2025 recipient, Tano Santos, the Academic Director of the Heilbrunn Center for Graham & Dodd Investing at Columbia Business School stated, “Jennifer’s entire career has been devoted to elevating the field of value investing, from her early days working alongside Robert Bruce, to launching Summit Street Capital. Her focus has been consistently on evaluating companies through a value investor lens.”

In 2009, she launched Summit Street Capital which employs a deep value investment approach using a concentrated portfolio of high-quality companies with strong balance sheets purchased at bargain prices. Jenny earned a BA from Columbia College and an MBA from Columbia Business School where she received Beta Gamma Sigma honors

In 2005, Gabelli created the annual prize to honor an individual, student, or practitioner who has made an outstanding contribution to enlarge the field of value investing. Known as the “Gabelli Prize”, the company funded the prize with $1 million and presents the award at its annual client meetings.

GAMCO Investors, Inc. (OTCQX: GAMI), through its subsidiaries, manages assets of private advisory accounts (GAMCO), mutual funds and closed-end funds (Gabelli Funds, LLC) and is known for its Private Market Value with a Catalyst™ style of investment.

Contact:
Douglas R. Jamieson
President & Chief Operating Officer
(914) 921-5020

The MIL Network –

May 21, 2025

MIL-OSI: Helium Evolution Announces Filing of First Quarter 2025 Financial Results

Source: GlobeNewswire (MIL-OSI)

CALGARY, Alberta, May 20, 2025 (GLOBE NEWSWIRE) — Helium Evolution Incorporated (TSXV:HEVI) (“HEVI” or the “Company“), a Canadian-based helium exploration company focused on developing assets in southern Saskatchewan, today announced the filing of the Company’s interim condensed financial statements and associated management’s discussion and analysis for the three months ended March 31, 2025 (the “Q1 Report”).

Complete details of the Q1 Report are available on SEDAR+ at www.sedarplus.ca, and on HEVI’s website.

Three Months Ended March 31, 2025 Highlights

	Three months ended
Tabular amounts in thousands of Canadian Dollars, except share and per share amounts	March 31, 2025	March 31, 2024
Financial
Net loss	675	239
Net loss per share, basic and diluted	0.01	0.00
Cash	3,004	5,304
Working capital	1,966	4,992
Total assets	11,683	11,293
Total liabilities	1,500	872
Weighted average shares outstanding
Basic and diluted¹	97,129,085	96,033,974
_{¹The weighted average number of common shares outstanding is not increased for outstanding stock options and warrants when the effect is anti-dilutive.}

During the first quarter of 2025, HEVI maintained its focus on disciplined operational execution, closing the quarter with $2.0 million in working capital and a strong cash position. Subsequent to quarter-end, the Company completed or announced equity financings totaling approximately $3.4 million, further strengthening its balance sheet and supporting planned development and drilling initiatives for the remainder of 2025.

Operationally, the Company drilled four wells in the Mankota area during the first quarter of 2025, in partnership with North American Helium Inc. (“NAH”), two of which discovered helium. To date, HEVI and NAH have successfully drilled six helium discovery wells, further substantiating the potential of the region.

Building upon this momentum, HEVI and NAH, are progressing with additional development plans in the Mankota area. Notably, NAH has secured a license for a facility (the “Soda Lake Facility”) to tie-in the 9-35 well, the 10-1 well and the 10-36 well in the northern part of the discovery, as shown on the map above. The Soda Lake Facility is expected to be operational in the fourth quarter of 2025, marking a significant milestone for HEVI with its first helium sales volumes. Additional drilling is planned for the second half of 2025 to advance the project further.

Stay Connected to Helium Evolution

Shareholders and other parties interested in learning more about the Helium Evolution opportunity are encouraged to visit the Company’s website, which includes an updated corporate presentation, and are invited to follow the Company on LinkedIn and X for ongoing corporate updates and helium industry information. Helium Evolution also provides an extensive, commissioned ‘deep-dive’ research report prepared by a third party whose background includes serving as a research analyst for several bank-owned and independent investment dealers.

About Helium Evolution Incorporated

Helium Evolution is a Canadian-based helium exploration company holding the largest helium land rights position in North America among publicly-traded companies, focused on developing assets in southern Saskatchewan. The Company has over five million acres of land under permit near proven discoveries of economic helium concentrations which will support scaling the exploration and development efforts across its land base. HEVI’s management and board are executing a differentiated strategy to become a leading supplier of sustainably-produced helium for the growing global helium market.

For further information, please contact:

Statement Regarding Forward-Looking Information

This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.

Forward-looking statements in this document include statements regarding the Company’s expectations regarding the Soda Lake Facility including timing, tie-in of wells to the Soda Lake Facility, the Company’s expectations regarding scalable helium production from its land generally, the Company and/or NAH’s plans to drill more wells, completion of the financing as announced, the Company becoming a leading supplier of sustainably-produced helium, the Company’s belief regarding becoming a key player in the North American helium industry, the Company’s beliefs regarding growth of the global helium market and other statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: NAH may be unsuccessful in drilling commercially productive wells; the Company and/or NAH may choose to defer, accelerate or abandon its exploration and development plans including future drilling; the Company and/or NAH may determine not to bring the helium wells onto production; the Company and/or NAH may abandon, defer or accelerate plans and decisions regarding the Soda Lake Facility; new laws or regulations and/or unforeseen events could adversely affect the Company’s business and results of operations; stock markets have experienced volatility that often has been unrelated to the performance of companies and such volatility may adversely affect the price of the Company’s securities regardless of its operating performance; the financings may not close as anticipated or at all; risks generally associated with the exploration for and production of resources; the uncertainty of estimates and projections relating to expenses and the Company’s working capital position; constraint in the availability of services; commodity price and exchange rate fluctuations; adverse weather or break-up conditions; and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures.

When relying on forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and risks other uncertainties and potential events. The Company has assumed that the material factors referred to in the previous paragraphs will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

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

An infographic accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ade519ed-7912-4ca5-8b3b-1edfd33a0e89

The MIL Network –

May 21, 2025

MIL-OSI: First Busey Corporation Closes Depositary Share Offering

Source: GlobeNewswire (MIL-OSI)

LEAWOOD, Kan., May 20, 2025 (GLOBE NEWSWIRE) — First Busey Corporation (“Busey”) (Nasdaq: BUSE), the holding company for Busey Bank and CrossFirst Bank, today announced the closing of its previously announced underwritten public offering of 8,600,000 depositary shares (inclusive of 600,000 depositary shares offered in connection with the partial exercise of the underwriters’ over-allotment option), each representing a 1/40th ownership interest in a share of its 8.25% Fixed Rate Series B Non-Cumulative Perpetual Preferred Stock, with a liquidation preference of $1,000 per share (equivalent to $25.00 per depositary share). As a result of the public offering, Busey received proceeds of approximately $207,477,500, net of estimated expenses and underwriting discounts and commissions.

Piper Sandler & Co., Morgan Stanley & Co. LLC and Keefe, Bruyette & Woods, Inc. acted as joint bookrunning managers for the offering, and Janney Montgomery Scott LLC is acting as the co-manager.

A shelf registration statement, including a prospectus, with respect to the offering was previously filed by Busey with the Securities and Exchange Commission (the “SEC”) on September 21, 2023. A prospectus supplement relating to the offering has been filed with the SEC. The offering has been made by means of a prospectus supplement and accompanying prospectus. Copies of the prospectus supplement and the accompanying prospectus relating to these securities may be obtained free of charge by visiting the SEC’s website at www.sec.gov. Alternatively, Busey or any underwriter or any dealer participating in the offering will arrange to send you the prospectus supplement if you request it by emailing Piper Sandler & Co. at fsg-dcm@psc.com or calling Morgan Stanley & Co. LLC toll-free at 1-866-718-1649 or Keefe, Bruyette & Woods, A Stifel Company at 1-800-966-1559.

Corporate Profile
As of March 31, 2025, First Busey Corporation (Nasdaq: BUSE) was a $19.46 billion financial holding company headquartered in Leawood, Kansas.

Busey Bank, a wholly-owned bank subsidiary of First Busey Corporation headquartered in Champaign, Illinois, had total assets of $11.98 billion as of March 31, 2025. Busey Bank currently has 62 banking centers, with 21 in Central Illinois markets, 17 in suburban Chicago markets, 20 in the St. Louis Metropolitan Statistical Area, three in Southwest Florida, and one in Indianapolis. More information about Busey Bank can be found at busey.com.

CrossFirst Bank, a wholly-owned bank subsidiary of First Busey Corporation headquartered in Leawood, Kansas, had total assets of $7.45 billion as of March 31, 2025. CrossFirst Bank currently has 16 banking centers located across Arizona, Colorado, Kansas, Missouri, New Mexico, Oklahoma, and Texas. More information about CrossFirst Bank can be found at crossfirstbank.com. It is anticipated that CrossFirst Bank will be merged with and into Busey Bank on June 20, 2025.

Through Busey Bank’s Wealth Management division, Busey provides a full range of asset management, investment, brokerage, fiduciary, philanthropic advisory, tax preparation, and farm management services to individuals, businesses, and foundations. Assets under care totaled $13.68 billion as of March 31, 2025. More information about Busey’s Wealth Management services can be found at busey.com/wealth-management.

Busey Bank’s wholly-owned subsidiary, FirsTech, Inc. (“FirsTech”) specializes in the evolving financial technology needs of small and medium-sized businesses, highly regulated enterprise industries, and financial institutions. FirsTech provides comprehensive and innovative payment technology solutions, including online, mobile, and voice-recognition bill payments; money and data movement; merchant services; direct debit services; lockbox remittance processing for payments made by mail; and walk-in payments at retail agents. Additionally, FirsTech simplifies client workflows through integrations enabling support with billing, reconciliation, bill reminders, and treasury services. More information about FirsTech can be found at firstechpayments.com.

For the fourth consecutive year, Busey was named among 2025’s America’s Best Banks by Forbes. Ranked 88th overall, Busey was one of seven banks headquartered in Illinois included on this year’s list. Busey was also named among the 2024 Best Banks to Work For by American Banker, the 2024 Best Places to Work in Money Management by Pensions and Investments, the 2024 Best Places to Work in Illinois by Daily Herald Business Ledger, the 2025 Best Places to Work in Indiana by the Indiana Chamber of Commerce, and the 2024 Best Companies to Work For in Florida by Florida Trend magazine. We are honored to be consistently recognized globally, nationally and locally for our engaged culture of integrity and commitment to community development.

First Busey Corporation Contacts
For Financials:	For Media:
Scott Phillips, Interim CFO	Amy L. Randolph, EVP & COO
First Busey Corporation	First Busey Corporation
(239) 689-7167	(217) 365-4049
scott.phillips@busey.com	amy.randolph@busey.com

Forward-Looking Statements
This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to Busey’s financial condition, results of operations, plans, objectives, future performance, and business. Forward-looking statements, which may be based upon beliefs, expectations, and assumptions of Busey’s management and on information currently available to management, are generally identifiable by the use of words such as “believe,” “expect,” “anticipate,” “plan,” “intend,” “estimate,” “may,” “will,” “would,” “could,” “should,” “position,” or other similar expressions. Additionally, all statements in this document, including forward-looking statements, speak only as of the date they are made, and Busey undertakes no obligation to update any statement in light of new information or future events.

A number of factors, many of which are beyond Busey’s ability to control or predict, could cause actual results to differ materially from those in any forward-looking statements. These factors include, among others, the following: (1) the strength of the local, state, national, and international economies and financial markets (including effects of inflationary pressures, the threat or implementation of tariffs, trade wars, and changes to immigration policy); (2) changes in, and the interpretation and prioritization of, local, state, and federal laws, regulations, and governmental policies (including those concerning Busey’s general business); (3) the economic impact of any future terrorist threats or attacks, widespread disease or pandemics, or other adverse external events that could cause economic deterioration or instability in credit markets (including Russia’s invasion of Ukraine and the conflict in the Middle East); (4) unexpected results of acquisitions, including the acquisition of CrossFirst, which may include the failure to realize the anticipated benefits of the acquisitions and the possibility that the transaction and integration costs may be greater than anticipated; (5) the imposition of tariffs or other governmental policies impacting the value of products produced by Busey’s commercial borrowers; (6) new or revised accounting policies and practices as may be adopted by state and federal regulatory banking agencies, the Financial Accounting Standards Board, the Securities and Exchange Commission, or the Public Company Accounting Oversight Board; (7) changes in interest rates and prepayment rates of Busey’s assets (including the impact of sustained elevated interest rates); (8) increased competition in the financial services sector (including from non-bank competitors such as credit unions and fintech companies) and the inability to attract new customers; (9) changes in technology and the ability to develop and maintain secure and reliable electronic systems; (10) the loss of key executives or associates, talent shortages, and employee turnover; (11) unexpected outcomes and costs of existing or new litigation, investigations, or other legal proceedings, inquiries, and regulatory actions involving Busey (including with respect to Busey’s Illinois franchise taxes); (12) fluctuations in the value of securities held in Busey’s securities portfolio, including as a result of changes in interest rates; (13) credit risk and risk from concentrations (by type of borrower, geographic area, collateral, and industry), within Busey’s loan portfolio and large loans to certain borrowers (including commercial real estate loans); (14) the concentration of large deposits from certain clients who have balances above current Federal Deposit Insurance Corporation insurance limits and may withdraw deposits to diversify their exposure; (15) the level of non-performing assets on Busey’s balance sheets; (16) interruptions involving information technology and communications systems or third-party servicers; (17) breaches or failures of information security controls or cybersecurity-related incidents; (18) the economic impact on Busey and its customers of climate change, natural disasters, and exceptional weather occurrences such as tornadoes, hurricanes, floods, blizzards, and droughts; (19) the ability to successfully manage liquidity risk, which may increase dependence on non-core funding sources such as brokered deposits, and may negatively impact Busey’s cost of funds; (20) the ability to maintain an adequate level of allowance for credit losses on loans; (21) the effectiveness of Busey’s risk management framework; and (22) the ability of Busey to manage the risks associated with the foregoing. These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements.

The MIL Network –

May 21, 2025

MIL-OSI: Mattr Reports Voting Results From Annual Meeting

Source: GlobeNewswire (MIL-OSI)

TORONTO, May 20, 2025 (GLOBE NEWSWIRE) — Mattr Corp. (“Mattr” or the “Company”) (TSX: MATR) announced today in accordance with Toronto Stock Exchange requirements, the voting results from its Annual Meeting held May 15, 2025 in Toronto, Ontario.

A total of 43,559,302 common shares were voted at the meeting representing 69.87% of the votes attached to all outstanding shares. Shareholders voted in favour of all items of business before the meeting, including the election of all director nominees as follows:

Name of Nominee	% of Votes For	% of Votes Against
Laura A. Cillis	99.93	0.07
Kathleen J. Hall	99.86	0.14
Alan R. Hibben	99.84	0.16
Kevin L. Nugent	98.26	1.74
Michael Reeves	99.93	0.07
Kathy Rethy	99.70	0.30
Marvin Riley	99.77	0.23

“I appreciate the continued strong support of Mattr’s shareholders for both our strategic direction and our experienced team of Directors who provide invaluable governance oversight,” said Mike Reeves, Mattr’s President and CEO. “With output expanding from our recently established production facilities, strong customer adoption of our newly developed technologies and meaningful growth opportunities for the recently acquired AmerCable business, I believe Mattr is well positioned to deliver accelerating shareholder returns over the coming years.”

Detailed voting results for the meeting are available on SEDAR+ at www.sedarplus.com.

About Mattr

Mattr is a growth-oriented, global materials technology company broadly serving critical infrastructure markets, including transportation, communication, water management, energy and electrification. Its two business segments, Connection Technologies and Composite Technologies, enable responsible renewal and enhancement of critical infrastructure.

For further information, please contact:

Meghan MacEachern
VP, Investor Relations & External Communications
Telephone: 437.341.1848
Email: meghan.maceachern@mattr.com
Website: www.mattr.com

Source: Mattr Corp.

The MIL Network –

May 21, 2025

MIL-OSI: F&M Bank Announces Resignation of Board Member Jo Ellen Hornish

Source: GlobeNewswire (MIL-OSI)

ARCHBOLD, Ohio, May 20, 2025 (GLOBE NEWSWIRE) — F&M Bank (“F&M”), an Archbold, Ohio-based bank owned by Farmers & Merchants Bancorp, Inc. (Nasdaq: FMAO), today announced that Jo Ellen Hornish has resigned from the Company’s Board of Directors following its May 20, 2025, board meeting.

Since 2013, Mrs. Hornish has served as a valued member of the Board, contributing her business acumen and leadership experience to the Company’s strategic vision. Her insights, particularly in the transportation and manufacturing industries, along with her service on the Audit Committee and the Corporate Governance and Nominating Committee, have helped guide the Bank through important growth and development phases.

“On behalf of the entire Board and executive leadership team, I want to extend our deepest thanks to Jo Ellen for her dedication to F&M,” said Lars Eller, President and CEO of F&M Bank. “Her guidance and steady leadership have been instrumental in shaping the success we enjoy today. We are sincerely grateful for the time, talent, and energy she has devoted to the Board and the communities we serve.”

Mrs. Hornish, President and CEO of several Defiance, Ohio -based companies, brought a wealth of corporate and community leadership experience to the Board. Her commitment to both local and national philanthropic efforts is also a testament to her deep-rooted values and community spirit.

F&M extends its sincere gratitude to Mrs. Hornish and wishes her continued success in her future endeavors.

About F&M Bank:
F&M Bank is a local independent community bank that has been serving its communities since 1897. F&M Bank provides commercial banking, retail banking and other financial services. Our locations are in Butler, Champaign, Fulton, Defiance, Hancock, Henry, Lucas, Shelby, Williams, and Wood counties in Ohio. In Northeast Indiana, we have offices located in Adams, Allen, DeKalb, Jay, Steuben and Wells counties. The Michigan footprint includes Oakland County, and we have Loan Production Offices in Troy, Michigan; Muncie, Indiana; and Perrysburg and Bryan, Ohio.

Safe harbor statement
Private Securities Litigation Reform Act of 1995. Statements by F&M, including management’s expectations and comments, may not be based on historical facts and are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21B of the Securities Exchange Act of 1934, as amended. Actual results could vary materially depending on risks and uncertainties inherent in general and local banking conditions, competitive factors specific to markets in which F&M and its subsidiaries operate, future interest rate levels, legislative and regulatory decisions, capital market conditions, or the effects of the COVID-19 pandemic, and its impacts on our credit quality and business operations, as well as its impact on general economic and financial market conditions. F&M assumes no responsibility to update this information. For more details, please refer to F&M’s SEC filing, including its most recent Annual Report on Form 10-K and quarterly reports on Form 10-Q. Such filings can be viewed at the SEC’s website, www.sec.gov or through F&M’s website www.fm.bank.

Company Contact:	Investor and Media Contact:
Lars B. Eller President and Chief Executive Officer Farmers & Merchants Bancorp, Inc. (419) 446-2501 leller@fm.bank	Andrew M. Berger Managing Director SM Berger & Company, Inc. (216) 464-6400 andrew@smberger.com

The MIL Network –

May 21, 2025

MIL-OSI: Plantro Ltd. Increases Purchase Price under All-Cash Tender Offer to Acquire Class A Shares of Information Services Corporation to $30 per Class A Share

Source: GlobeNewswire (MIL-OSI)

Tender Offer Amended to up to 9.9% of Class A Shares

Tender Offer Extended Until 5:00pm Eastern Time on June 3, 2025

ST. HELIER, Jersey, May 20, 2025 (GLOBE NEWSWIRE) — Plantro Ltd. (“Plantro”) today announced that it is extending and amending its ongoing all-cash tender offer (the “Tender Offer”) to acquire class A limited voting shares (the “Class A Shares”) in the capital of Information Services Corporation (TSX: ISC) (“ISC” or the “Company”).

Pursuant to the terms of a third amended and restated offer document dated May 20, 2025 (the “Offer Document”), Plantro has increased the consideration under the Tender Offer to $30 per Class A Share, payable in cash (the “Tender Price”). Plantro has also extended the expiry date of the Tender Offer to 5:00pm (Eastern Time) on June 3, 2025, unless the Tender Offer is further varied, extended, or withdrawn in accordance with the terms of the Offer Document (the “Expiry Time”). The maximum number of Class A Shares to be purchased under the Tender Offer has been reduced to 1,398,887 Class A Shares, reflecting that, together with the 435,150 Class A Shares Plantro currently owns, the Tender Offer is for a maximum of 9.9% of ISC’s issued and outstanding Class A Shares.

Due in part to the extreme lack of trading liquidity of the Class A Shares, Plantro reduced the size of the Tender Offer and increased the Tender Price. The Tender Offer is an opportunity for shareholders weary of the ISC board of directors’ continued refusal to take actions to unlock value for shareholders, to realize full and fair value for their Class A Shares.

Plantro notes that the Tender Price of $30 is above the 12-month price target of $28 per Class A Share maintained by the sell-side analyst for ISC’s primary financial advisor and equals the 12-18 month price target provided by a sell-side analyst of the other major Canadian investment bank providing research coverage of the Company.

Finally, based on Plantro’s calculations, the Tender Price values the Company at approximately 20.3x Price to LTM EPS, 19.0x Enterprise Value to LTM Levered Free Cash Flow and 9.6x Enterprise Value to LTM EBITDAⁱ.

Shareholders are urged to consider this attractive opportunity to receive certainty of value and all-cash consideration.

Shareholders of ISC who have already validly deposited and not withdrawn their Class A Shares are not required to take any further action to accept the Tender Offer and will be deemed to have deposited their Class A Shares at the increased Tender Price. No Class A Shares will be taken up and paid for by Plantro pursuant to the Tender Offer until after the Expiry Time.

Other than as set out herein, all other terms of the Tender Offer remain unchanged. Details of the Tender Offer, including instructions for tendering Class A Shares, are included in the Offer Document. The Offer Document and the third amended and restated letter of transmittal dated May 20, 2025 (together with the Offer Document, the “Offer Documents”) will be filed and made available on ISC’s SEDAR+ profile at www.sedarplus.ca. Shareholders of ISC should carefully read the Offer Documents prior to making a decision with respect to the Tender Offer.

About Plantro

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

Shareholder Questions

Shareholders of ISC who have questions with respect to the Tender Offer, or who need assistance in depositing their Class A Shares, should please contact the depositary or the information agent for the Tender Offer at the contact details below:

Depositary: Odyssey Trust Company

Toll Free (US & Canada): 1-888-290-1175
Calls (All Regions): 587-885-0960
Email: corp.actions@odysseytrust.com

Information Agent: Carson Proxy

North America Toll Free: 1-800-530-5189
Local and Text: 416-751-2066
Email: info@carsonproxy.com

Cautionary Statement Regarding Forward-Looking Information

This press release may contain forward-looking information and forward-looking statements within the meaning of applicable securities laws. Specifically, certain statements contained in this press release, including without limitation statements regarding the Tender Offer, taking up and paying for Class A Shares deposited under the Tender Offer, and the expiry of the Tender Offer, contain “forward-looking information” and are prospective in nature. In some cases, but not necessarily in all cases, forward-looking statements can be identified by the use of forward looking terminology such as “plans”, “targets”, “expects” or “does not expect”, “is expected”, “an opportunity exists”, “is positioned”, “estimates”, “intends”, “assumes”, “anticipates” or “does not anticipate” or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved”. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking statements.

Statements containing forward-looking information are not based on historical facts, but rather on current expectations and projections about future events and are therefore subject to risks and uncertainties that could cause actual results to differ materially from the future outcomes expressed or implied by the statements containing forward-looking information.

Although Plantro believes that the expectations reflected in statements containing forward-looking information herein made by it (and not, for greater certainty, any forward-looking statements attributable to the Company) are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements. Material factors or assumptions that were applied in formulating the forward-looking information contained herein include the assumption that the business and economic conditions affecting the Company’s operations will continue substantially in the current state, including, without limitation, with respect to industry conditions, general levels of economic activity, continuity and availability of personnel, local and international laws and regulations, foreign currency exchange rates and interest rates, inflation, taxes, that there will be no unplanned material changes to the Company’s operations, and that the Company’s public disclosure record is accurate in all material respects and is not misleading (including by omission).

Plantro cautions that the foregoing list of material factors and assumptions is not exhaustive. While these factors and assumptions are considered by Plantro to be appropriate and reasonable in the circumstances as of the date of this press release, they are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, levels of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking information. Many of these assumptions are based on factors and events that are not within the control of Plantro and there is no assurance that they will prove correct.

Important facts that could cause outcomes to differ materially from those expressed or implied by such forward-looking information include, among other things, actions taken by the Company in respect of the Tender Offer, the content of subsequent public disclosures by the Company, the failure to satisfy the conditions to the Tender Offer, general economic conditions, legislative or regulatory changes and changes in capital or securities markets. If any of these risks or uncertainties materialize, or if the opinions, estimates or assumptions underlying the forward-looking information prove incorrect, actual results or future events might vary materially from those anticipated in the forward-looking information. Although Plantro has attempted to identify important risk factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other risk factors not presently known to Plantro or that Plantro presently believes are not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking information.

Statements containing forward-looking information in this press release are based on Plantro’s beliefs and opinions at the time the statements are made, and there should be no expectation that such forward-looking information will be updated or supplemented as a result of new information, estimates or opinions, future events or results or otherwise, and Plantro disclaims any obligation to do so, except as required by applicable law. All of the forward-looking information contained in this press release is expressly qualified by the foregoing cautionary statements.

Non-IFRS Measures

This press release makes reference to certain non-IFRS financial measures. These measures are not recognized measures under IFRS, do not have a standardized meaning prescribed by IFRS and may not be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement IFRS financial measures by providing further understanding of the Company’s results of operations from the Company’s perspective as disclosed by the Company in its public disclosure. The Company’s definitions of non-IFRS measures may not be the same as the definitions for such measures used by other companies or investors in their reporting. Non-IFRS measures have limitations as analytical tools and should not be considered in isolation nor as a substitute for analysis of the Company’s financial information reported under IFRS. Please refer to the Company’s public disclosure documents, which are available on the Company’s profile on SEDAR+ at www.sedarplus.ca for further details regarding its use of non-IFRS measures.

Media Contact: Gagnier Communications

Riyaz Lalani / Dan Gagnier
Email: Plantro@gagnierfc.com

ⁱ LTM is last twelve months to March 31, 2025. EPS equates to the sum of ISC’s Earnings per share, diluted for the past four quarters; Levered Free Cash Flow is equal to ISC’s Net cash flow provided by operating activities less: Additions to property, plant and equipment, Additions to intangible assets, Interest paid and Interest paid on lease obligations net of Interest received, and Principal repayments on lease obligations; EBITDA is equal to Net income before Depreciation and amortization, Net finance expense and Income tax expense.

The MIL Network –

May 21, 2025
MIL-OSI: Golar LNG Limited: 2025 AGM Results Notification
Source: GlobeNewswire (MIL-OSI)

Golar LNG Limited (the “Company”) advises that the 2025 Annual General Meeting of the Company was held on May 20, 2024 at 10:00 am (Bermuda time) at 2^nd Floor, The S.E. Pearman Building, 9 Par-la-Ville Road, Hamilton HM 11, Bermuda. The audited consolidated financial statements for the Company for the year ended December 31, 2024 were presented at the Meeting.

The following resolutions were passed:
1. To set the maximum number of Directors to be not more than eight.
2. To resolve that vacancies in the number of Directors be designated as casual vacancies and that the Board of Directors be authorized to fill such vacancies as and when it deems fit.
1. To re-elect Tor Olav Trøim as a Director of the Company.
2. To re-elect Daniel W. Rabun as a Director of the Company.
3. To re-elect Carl E. Steen as a Director of the Company.
4. To re-elect Niels G. Stolt-Nielsen as a Director of the Company.
5. To re-elect Lori Wheeler Naess as a Director of the Company.
6. To elect Benoît de la Fouchardiere as a Director of the Company.
7. To elect Mi Hong Yoon as a Director of the Company.
8. To re-appoint Ernst & Young LLP of London, England as auditors and to authorise the Directors to determine their remuneration.
9. To approve remuneration of the Company’s Board of Directors of a total amount of fees not to exceed US$2,000,000.00 for the year ended December 31st, 2025.
Golar would like to thank Georgina Sousa and Thorleif Egeli who retired from Golar’s Board of Directors today after two decades of combined service to the Company. Their contribution to the governance and transformation of Golar from a shipping company to a pure play FLNG business has been invaluable and we wish them well.

Following their election today as Directors, Golar also welcomes Benoît de la Fouchardiere and Mi Hong Yoon to its Board. Both have already contributed to Golar’s success – in the case of Benoît, through his part in contracting FLNG Hilli in Cameroon; and in the case of Mi Hong – through her role as Company Secretary. The Company looks forward to benefiting from their relevant and extensive experience as it seeks to grow its leading FLNG offering.

Hamilton, Bermuda
May 20, 2025

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

The MIL Network –
May 21, 2025
MIL-OSI: Talonvest Negotiates $51,317,000 Acquisition Loan for Texas Storage Portfolio

Source: GlobeNewswire (MIL-OSI)

NEWPORT BEACH, CA., May 20, 2025 (GLOBE NEWSWIRE) — Talonvest Capital, Inc., a boutique commercial real estate mortgage brokerage firm, is pleased to announce the successful closing of a $51,317,000 acquisition loan on behalf of Reframe Holdings (Reframe). Reframe acquired eight-property institutional quality self-storage facilities, known as the Steelcreek Portfolio, located in key markets of Dallas, Austin, and Houston, TX. The portfolio has approximately 620,000 net rentable square feet of self-storage units, covered and uncovered parking spaces, small bay industrial units and inline retail. Reframe’s business plan for the portfolio post-closing is to rebrand the assets with third party management provided by Extra Space Storage (6 facilities) and CubeSmart (2 facilities) and improve the properties through targeted capital expenditures.

Talonvest negotiated the non-recourse, low interest, floating rate acquisition loan with a 5 year term from a national bank and successfully delivered maximum flexibility for Reframe.

“Talonvest delivered an outstanding loan for us, and their hands-on approach and deep sector knowledge was key in getting this closed efficiently,” said Matt Dicker, Co-Founder and Managing Partner of Reframe Holdings. The Talonvest team members involved in this assignment included Anna Siradze, Britt Taylor, Ivan Viramontes, Tom Sherlock, 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.

About Reframe Holdings
Reframe Holdings is a commercial real estate investment owner, manager and sponsor. Reframe acquires Class A and B self-storage assets in top MSAs across the US, focusing on institutional-quality assets in retail-grade locations, supply-constrained submarkets and alignment with third-party management platforms. To learn more, please visit: reframeholdings.com.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/46688fc2-a32c-4ff0-a545-3f3cb32f0955

The MIL Network –

May 21, 2025
MIL-OSI: NBT Bancorp Inc. Announces Cash Dividend

Source: GlobeNewswire (MIL-OSI)

NORWICH, N.Y., May 20, 2025 (GLOBE NEWSWIRE) — The Board of Directors of NBT Bancorp Inc. (“NBT” or the “Company”) (NASDAQ: NBTB) approved a second-quarter cash dividend of $0.34 per share at a meeting held today. The dividend will be paid on June 16, 2025 to shareholders of record as of June 2, 2025.

Corporate Overview

NBT Bancorp Inc. is a financial holding company headquartered in Norwich, NY, with total assets of $13.86 billion at March 31, 2025. The Company primarily operates through NBT Bank, N.A., a full-service community bank, and through two financial services companies. NBT Bank, N.A. has 175 banking locations in New York, Pennsylvania, Vermont, Massachusetts, New Hampshire, Maine and Connecticut. EPIC Retirement Plan Services, based in Rochester, NY, is a national benefits administration firm. NBT Insurance Agency, LLC, based in Norwich, NY, is a full-service insurance agency. More information about NBT and its divisions is available online at: www.nbtbancorp.com, www.nbtbank.com, www.epicrps.com and www.nbtbank.com/Insurance.

Contact: Scott A. Kingsley President and CEO
Annette L. Burns, Executive Vice President and CFO
NBT Bancorp Inc.
52 South Broad Street
Norwich, NY 13815
607-337-6589

This press release was published by a CLEAR® Verified individual.

The MIL Network –

May 21, 2025
MIL-OSI: ESCO Announces Divestiture of VACCO Industries

Source: GlobeNewswire (MIL-OSI)

St. Louis, May 20, 2025 (GLOBE NEWSWIRE) — ESCO Technologies Inc. (NYSE: ESE) (ESCO, or the Company) today announced that it has entered into a definitive agreement to sell VACCO Industries (VACCO) to RBC Bearings Incorporated (NYSE: RBC), an international manufacturer and marketer of highly engineered precision bearings and products, headquartered in Oxford, Connecticut.

The Company expects to finalize the transaction upon receipt of certain customary regulatory approvals with expected gross cash proceeds of $310 million subject to typical post-closing adjustments. A sizable book gain is expected on the transaction, with a plan to use the net proceeds for paying down debt incurred in connection with the Maritime acquisition.

Last August, the Company announced a strategic review of the VACCO business and the resulting divestiture supports ESCO’s long-term strategy to focus its portfolio on core high-growth end-markets. VACCO has been a part of ESCO since its formation in 1990 and is a key supplier of highly-technical mission-critical solutions. Bryan Sayler, Chief Executive Officer and President, commented, “We view this transaction as a great outcome for all and are confident that VACCO and its dedicated management team and employees are positioned for a positive future with RBC Bearings.”

ESCO was represented by Philpott, Ball & Werner, LLC as exclusive financial advisor and Bryan Cave Leighton Paisner LLP as legal advisor on this transaction.

ESCO Technologies is a global provider of highly engineered products and solutions serving diverse end-markets. It manufactures filtration and fluid control products, advanced composites, as well as signature and power management solutions for aviation, Navy, space, and industrial customers. ESCO is an industry leader in designing and manufacturing RF test and measurement products and systems; and provides diagnostic instruments, software and services to industrial power users and the electric utility and renewable energy industries. Headquartered in St. Louis, Missouri, ESCO and its subsidiaries have offices and manufacturing facilities worldwide. For more information on ESCO and its subsidiaries, visit ESCO’s website at www.escotechnologies.com.

SOURCE ESCO Technologies Inc.
Kate Lowrey, Vice President of Investor Relations, (314) 213-7277

The MIL Network –

May 21, 2025
MIL-OSI: XWELL Reports First Quarter 2025 Results, Advancing Mission to Liberate Science-Proven Wellness
Source: GlobeNewswire (MIL-OSI)

NEW YORK, May 20, 2025 (GLOBE NEWSWIRE) — XWELL, Inc. (Nasdaq: XWEL) (“XWELL” or the “Company”), a pioneer in science-proven, accessible wellness, today reported results for the first quarter ended March 31, 2025. With a growing portfolio of in-airport and off-airport wellness brands, XWELL continues to redefine what wellness access looks like –connecting high-impact, science-backed care to everyday consumers wherever they are. From leading the nation’s biosecurity response to building tech-forward wellness spaces in transportation hubs and neighborhoods alike, XWELL is extending wellness beyond the elite and into real life.

Operating Highlights:
- Reported first quarter 2025 revenue of $7.0 million.
- The Company continues its focus on returning to overall profitability. For the first quarter ended March 31, 2025:
  - Total cost of sales decreased approximately 6% from the 2024 first quarter.
  - Total operating expenses decreased approximately 11% from the 2024 first quarter.
- Secured a three-year extension of its Traveler-based Genomic Surveillance Program in partnership with the Centers for Disease Control and Prevention (the “CDC”).
- Successfully closed a private placement in January 2025, comprising of the Company’s Series G Convertible Preferred Stock and Series Warrants for aggregate gross proceeds of approximately $4 million before deducting offering expenses payable by the Company.
“XWELL began 2025 with strong momentum,” commented Ezra Ernst, Chief Executive Officer of XWELL. “With our renewed CDC partnership, continued discipline in operations, and a clear growth plan in wellness and beauty, we believe we are expanding what accessible wellness looks like — anchored in science, backed by biosurveillance, and designed for everyday life.”

Liberating Wellness, Inside and Outside Airports

XWELL’s multi-brand strategy is designed to unify wellness experiences under a single, accessible platform — from express treatments in airport terminals to full-service spas in communities.

In March 2025, the Company announced plans to acquire select medical spas in high-demand metropolitan areas, including Orlando, Dallas and Salt Lake City, extending its presence beyond travel hubs and into the everyday wellness routines of consumers.

“Our vision is a seamless continuum of care,” added Ernst. “From biometric screenings at the airport to advanced skin and body treatments on Main Street, we believe that we are democratizing access to trusted, science-proven wellness.”

Science-Proven Wellness, Real-World Impact

Through XpresCheck and HyperPointe, XWELL continues to operate at the frontlines of biosurveillance and digital healthcare infrastructure.

In March 2025, XWELL secured a three-year extension of its Traveler-based Genomic Surveillance Program (“TGS”), operated with CDC and Ginkgo Bioworks Holdings. The TGS program, which has been supported by the CDC under contract number 75D30125C20439, provides early detection of emerging pathogens, safeguarding national health through airport-based biosurveillance in eight major hubs.

XpresCheck and HyperPointe, which helped power national COVID-19 testing and reporting during the pandemic, now serve as the operational and technological core of this next phase of strategic, science-driven wellness program.

Expanding the XWELL Ecosystem

XpresSpa® remains the airport wellness category leader, operating 28 locations across major U.S. and international airports. Each are being upgraded to reflect XWELL’s science-driven approach to wellness, offering premium wellness tech, retail, and self-care services. XWELL is actively broadening its retail product portfolio to feature a range of cutting-edge wellness offerings. These offerings include state-of-the-art wellness devices, nutritional supplements, and innovative wellness patches — each designed to support holistic health and cater to the evolving needs of today’s wellness-conscious consumers.

Naples Wax Center®, the Company’s first off-airport brand, operates a group of upscale hair removal locations with core products and service offerings from face and body waxing to a range of skincare and cosmetic products. In December 2024, the Company announced the planned opening of a new Naples Wax location in Estero, Florida, and is pursuing plans to open an additional 6 locations across Florida during 2025.

Consistent with XWELL’s strategy to extend its footprint into transportation hubs, the Company expects to open an XWELL location in New York City’s Penn Station in mid-2025. The tech-forward spa is being designed to serve commuters and tourists with quick-access, self-led wellness services in a high-traffic urban setting.

Liquidity and Financial Condition

As of March 31, 2025, the Company had approximately $3.7 million of cash and cash equivalents (excluding restricted cash), approximately $7.3 million in marketable securities, total current assets of approximately $14.8 million, and no long-term debt.

In January 2025, the Company announced the closing of its private placement offering the Company’s newly designated Series G Convertible Preferred Stock and Series Warrants. The aggregate gross proceeds of the private placement were approximately $4.0 million, before deducting offering expenses payable by the Company.

Summary First Quarter 2025 Financial Results

Total Revenue

Total revenue for the first quarter ended March 31, 2025, was approximately $7.0 million compared to approximately $8.7 million for the 2024 first quarter. The decrease in revenue was primarily driven by lower XpresTest revenue and XpresSpa revenue offset by Priority Pass revenue, which is a new revenue stream for the three months ended March 31, 2025.

Revenue for the first quarter ended March 31, 2025, primarily consisted of approximately $4.3 million from XpresSpa locations and approximately $2.2 million from XpresTest, which includes XWELL’s bio-surveillance partnership and its HyperPointe business. Naples Wax Center accounted for approximately $552,000 of revenue.

The Company noted that revenue from the CDC bio-surveillance program in the first quarter of 2025 was lower than anticipated due to timing of the extension. Revenue is expected to be made up in subsequent quarters.

Total Cost of Sales

Total cost of sales for the first quarter ended March 31, 2025, was approximately $5.7 million, compared to approximately $6.1 million for the 2024 first quarter.

General and Administrative Expenses

General and administrative expenses for the first quarter ended March 31, 2025, were approximately $4.3 million, compared to approximately $4.2 million for the 2024 first quarter. The increase was primarily due to the increase in accounting, legal and public company costs for the 2025 first quarter.

Total Operating Expenses

Total operating expenses for the first quarter ended March 31, 2025, were approximately $4.5 million, compared to approximately $5.1 million for the 2024 first quarter.

Operating Loss

Operating loss for the first quarter ended March 31, 2025, was approximately $3.2 million, compared to approximately $2.4 million for the 2024 first quarter.

Net Loss Attributable to XWELL

Net loss attributable to XWELL for the first quarter ended March 31, 2025, was approximately $4.7 million, compared to approximately $2.5 million for the 2024 first quarter.

The Company noted that it incurred higher than normal one-time expenses during the first quarter of 2025, primarily related to accounting, seasonal costs, and other non-recurring items.

Investor Conference Call

The Company intends to host an investor conference call and webcast in the next several weeks to highlight updates on growth initiatives and forthcoming programs. Additional details will be provided approximately one week prior to the event.

About XWELL, Inc.  

XWELL, Inc. (Nasdaq: XWEL) is a global wellness company on a mission to liberate science-proven wellness for all. Through a portfolio of brands that include XpresSpa®, Treat®, Naples Wax Center®, XpresCheck®, and HyperPointe™, XWELL delivers accessible, real-world wellness across travel, retail, and clinical settings.
 
For more information on XWELL’s offerings, visit www.XWELL.com.

Forward-Looking Statements 

This press release may contain “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These include statements preceded by, followed by or that otherwise include the words “believes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “should,” “seeks,” “future,” “continue,” or the negative of such terms, or other comparable terminology. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements. Forward-looking statements relating to expectations about future results or events are based upon information available to XWELL as of the date of this press release, and are not guarantees of the future performance of the Company, and actual results may vary materially from the results and expectations discussed. Additional information concerning these and other risks is contained in the Company’s Annual Report on Form 10-K, as amended, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, and other Securities and Exchange Commission filings. All subsequent written and oral forward-looking statements concerning XWELL, or other matters and attributable to XWELL or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. XWELL does not undertake any obligation to publicly update any of these forward-looking statements to reflect events or circumstances that may arise after the date hereof.  

Media
Heather Tidwell
MWW
htidwell@mww.com

The MIL Network –
May 21, 2025
MIL-OSI: HTTPeak Launches “Lazy Admin,” an AI Solution That Saves Costs and Staff Hours, empowering business users with data insights and analysis in seconds, all via natural language

Source: GlobeNewswire (MIL-OSI)

HTTPeak introduces Lazy Admin, an AI-powered tool for Salesforce, enabling users to generate insights in seconds using natural language. This solution streamlines business operations, enhancing efficiency and decision-making, and positions HTTPeak as an emerging force in AI-driven business solutions.

Photo Courtesy of Mustafa Parekh

NEW YORK, May 20, 2025 (GLOBE NEWSWIRE) — HTTPeak, a thriving software company, has recently introduced Lazy Admin, an advanced yet simple AI-powered reporting and data analysis tool designed for Salesforce and custom applications. This cutting-edge solution helps users to generate reports and insights in seconds using natural language, significantly reducing the time and effort required for data insights and getting deeper analysis.

This solution delivers a wide range of benefits designed to drive efficiency and smarter decision-making across the organization. It helps businesses save on costs and staff hours, while delivering faster insights—enabling teams to know more in less time. Users can explore the same data from multiple perspectives within seconds, empowering them to make informed decisions with confidence.

With built-in data protection, seamless integration capabilities with external databases beyond Salesforce, and the ability to offer API access for partner apps, the solution not only strengthens internal operations but also extends its value across the tech ecosystem. Its intuitive interface makes it a cakewalk for everyone, regardless of technical expertise. Additionally, it can be trained to understand company-specific language and workflows, acting as a personalized data assistant—offering the power of a dedicated staff member at a fraction of the cost.

HTTPeak’s launch of Lazy Admin marks a significant milestone in the company’s mission to streamline business operations through AI-driven solutions. Mustafa Parekh, Founder of HTTPeak, notes, “Our goal with Lazy Admin is to democratize access to data insights, making it possible for anyone in the organization to analyze and understand their data without needing extensive technical expertise.”

This approach aligns with the growing trend of AI adoption in business operations, where companies increasingly seek to leverage technology to enhance efficiency and decision-making.

Lazy Admin is built on advanced algorithms that comprehend human language, allowing users to fetch reports and data insights quickly and efficiently. It not only organizes the data, but also helps to understand it much clearer by using a variety of visual charts. The tool supports both standard and custom Salesforce objects, enabling users to search data from leads, contacts, accounts, opportunities, and more. With the capability to get trained on the organization’s internal acronyms and business language, it enhances user interactions to feel more conversational, enabling an even more seamless and human-like experience for business users.

For example, businesses can use Lazy Admin to analyze revenue segmented by stages or months or track cases closed by weeks, providing actionable insights that inform strategic decisions. The AI-powered Data Talk feature further enhances the analysis process by providing strategic recommendations and key takeaways, such as highlighting both strengths and areas for improvement, providing a clear understanding of current performance and future potential.

It analyzes the overall trajectory of the business or dataset, offering strategic recommendations to optimize outcomes. Beyond just what’s visible in the data, it also considers external contributing factors—those not directly present in the dataset but highly relevant to the industry context and nature of the information. As a result, the insights generated support more effective, data-informed decision-making across the organization.

In 2024, the software industry experienced significant growth driven by AI and cloud technologies. As businesses increasingly adopt AI solutions to enhance operational efficiency, tools like Lazy Admin are about to play a critical role. Mustafa Parekh emphasizes, “The integration of AI into business operations is not just about technology; it’s about empowering leaders with the insights they need to drive growth and innovation.” This integration is particularly important in today’s business environment, where timely and accurate data analysis can differentiate between success and stagnation.

Lazy Admin offers a range of subscription options through quote-based pricing tailored to each organization’s unique needs. With features like inline record editing, custom object support, and premium customer service, the tool is designed to be both cost-effective and scalable. As adoption grows, the team remains focused on turning strong interest into long-term customer relationships.

As the demand for AI-powered solutions continues to rise, HTTPeak is well positioned to capitalize on this trend. Mustafa Parekh adds, “We are committed to continuously improving Lazy Admin, ensuring it remains at the forefront of AI innovation in the Salesforce ecosystem.” This commitment to innovation is crucial in a dynamic market, where staying ahead of technological advancements is key to maintaining competitive advantage.

Businesses interested in Lazy Admin can initiate the onboarding process through Salesforce AppExchange. Rather than a simple self-installation, the Lazy Admin team works closely with each organization to ensure a smooth and impactful implementation. This guided approach reflects our belief that businesses benefit from tailored support when adopting AI solutions. With the dynamic pricing customized to meet specific needs and usage patterns, Lazy Admin empowers organizations to maximize their Salesforce investment through seamless integration and powerful data analysis—without requiring deep technical expertise.

Visit the Lazy Admin Website to learn how this innovative solution can transform your business operations.

About HTTPeak
HTTPeak is a software company that develops innovative AI-powered solutions for business operations. With Lazy Admin, HTTPeak aims to revolutionize data analysis and reporting, making it accessible and efficient for businesses worldwide. The company’s focus on AI-driven tools reflects its commitment to empowering businesses with cutting-edge technology that enhances productivity and decision-making.

Contact information:

Mustafa Parekh
Founder, HTTPeak
lazyadmin@httpeak.com
https://lazyadmin.httpeak.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/00a67c9c-e353-4381-b8df-4c7b2b7c1807

The MIL Network –

May 21, 2025
MIL-OSI: Unifiedpost Group rebrands to Banqup Group, reinforcing its position as a pure-play SaaS provider
Source: GlobeNewswire (MIL-OSI)

Press Release – Regulated Information

Unifiedpost Group rebrands to Banqup Group, reinforcing its position as a pure-play SaaS provider

La Hulpe, Belgium – 20 May 2025, 22:00 CET – REGULATED INFORMATION – Banqup Group SA, formerly Unifiedpost Group SA, (Euronext: UPG) (Banqup, Company), a leading provider of integrated business communications solutions, held an Extraordinary General Meeting (EGM) and Annual General Meeting (AGM).

The shareholders approved all proposed resolutions (here), including:

EGM: Strategic rebranding from Unifiedpost Group SA to Banqup Group SA across the Group. This further underpins our focus on core digital services and aligns our business as a pure-play SaaS provider. The rebranding offers our stakeholders a clear understanding of our product and value proposition, reinforcing our commitment to growth in e-invoicing and payment solutions.

AGM: Enhanced governance with the approval of the updated remuneration policy and the appointment of four new Board members:
- Nicolas de Beco, representing Beco Global Consulting LLC, as executive director
- Nathalie Van Den Haute, representing Quilaudem BV, as non-executive director
- Koen Hoffman, representing Ahok BV, as an independent director
- Leanne Kemp as an independent director
The minutes, voting results and presentation of the AGM will be available on the shareholder page (here) in the
coming days.

Financial Calendar:
- 22 May 2025: Publication of the Q1 2025 business update
- 26 August 2025: Publication of the H1 2025 results (webcast)
- 13 November 2025: Publication of the Q3 2025 business update
Contact
Alex Nicoll
Investor Relations
Banqup Group
alex.nicoll@unifiedpost.com

About Banqup Group

Banqup Group delivers integrated cloud-based SaaS solutions to streamline business transactions across the entire lifecycle, from e-invoicing and e-payments to tax reporting. Banqup, our solution for businesses, unifies purchase-to-pay, order-to-cash, e-invoicing compliance, and e-payments into one secure platform, removing the complexity of juggling disconnected tools. eFaktura World, our solution for governments, is a comprehensive digital platform designed for tax administrations to implement e-invoicing and streamline both B2G and B2B tax reporting flows. To learn more about Banqup Group and our solutions, please visit our website: Unifiedpost Group | Global leaders in digital solutions

Cautionary note regarding forward-looking statements: The statements contained herein may include prospects, statements of future expectations, opinions, and other forward-looking statements in relation to the expected future performance of Banqup Group and the markets in which it is active. Such forward-looking statements are based on management’s current views and assumptions regarding future events. By nature, they involve known and unknown risks, uncertainties, and other factors that appear justified at the time at which they are made but may not turn out to be accurate. Actual results, performance or events may, therefore, differ materially from those expressed or implied in such forward-looking statements. Except as required by applicable law, Banqup Group does not undertake any obligation to update, clarify or correct any forward-looking statements contained in this press release in light of new information, future events or otherwise and disclaims any liability in respect hereto. The reader is cautioned not to place undue reliance on forward-looking statements.

Attachment
- Press release
The MIL Network –
May 21, 2025

MIL-OSI: Currenc Group Inc. Announces First Quarter 2025 Financial Results

Source: GlobeNewswire (MIL-OSI)

SINGAPORE, May 20, 2025 (GLOBE NEWSWIRE) — Currenc Group Inc. (Nasdaq: CURR) (“Currenc” or the “Company”), a fintech pioneer empowering financial institutions worldwide with artificial intelligence (AI) solutions, today announced its financial results for the first quarter ended March 31, 2025.

First Quarter 2025 Financial Highlights

Total Processing Value (TPV) through Tranglo was US$1.30 billion for the first quarter of 2025, decreasing by 3.7% year-over-year. Total number of transactions decreased to 2.77 million for the first quarter of 2025 from 2.94 million for the same period of 2024. The decline in TPV was mainly due to the decline in business volume from the Hong Kong market.
Total revenues excluding TNG Asia and GEA¹ were US$10.0 million for the first quarter of 2025, representing a year-over-year decrease of 11.5%, primarily due to the 23.1% decline in global airtime revenue.

	For the three-month period ended March 31,
	2025		2024
	$		$
	(dollars in thousands)
Remittance revenue excluding TNG Asia & GEA		4,583		5,025

Global Airtime Revenue		2,022		2,573
Indonesian Airtime Revenue		3,437		3,742
Total Revenue excluding TNG Asia & GEA		10,042		11,340

Total remittance revenues excluding TNG Asia and GEA, i.e., remittance revenues contributed by Tranglo, were US$4.6 million for the first quarter of 2025, down 8% year-over-year. The decline in remittance revenue was mainly due to a decrease in remittance revenue from the Hong Kong market. Tranglo’s overall take rate declined to 0.35% in the first quarter of 2025 from 0.37% in the same period of 2024.

Currenc’s global airtime transfer revenues were US$2.0 million for the first quarter of 2025, representing a year-over-year decrease of 23.1%. The growing availability of free Wi-Fi in Southeast Asian countries, especially Malaysia and Indonesia, has led to declining demand for Malaysia-Indonesia airtime transfers, resulting in a decline in global airtime business in the first quarter of 2025. As Currenc expects this trend to continue in Southeast Asian markets, the Company’s management plans to deemphasize airtime transfer and reallocate its resources and capital to expand its new AI product offerings.

Total direct costs of revenue were US$6.9 million for the first quarter of 2025, representing a year-over-year decrease of 20.7%.

The direct payout rate for Tranglo’s remittance business was 0.13% for the first quarter of 2025, flat compared to 0.12% for the same period of 2024. Currenc’s overall gross profit margin ratio for the first quarter of 2025 was 31.8%, compared to 33.6% for the same period of 2024.

Total operating expenses increased to $7.5 million for the first quarter of 2025 from $5.8 million for the same period of 2024. The increase was mainly due to expenses of $2.2 million in recognition of the incentive shares granted to employees upon the completion of the INFINT SPAC merger.
As Currenc divested TNG Asia and GEA in August and July 2024, respectively, its operating costs now reflect the operating costs of Tranglo, WalletKu and the Company’s headquarters only. Also, with the rollout of its new AI initiatives, Currenc incurred $0.5 million in operating costs related to these new businesses in the first quarter of 2025. The new AI businesses are expected to contribute incrementally to revenues and positively impact EBITDA in 2025.
- Tranglo’s operating costs for the first quarter of 2025 were $3.2 million, representing an increase of 14% from $2.8 million in the same period of 2024.
- WalletKu’s operating costs were $0.2 million for the first quarter of 2025, as compared to $0.4 million for the same period of 2024.
- Professional fees and director fees were $0.8 million and $0.6 million for the first quarter of 2025, respectively.

Other income totaled $1.0 million for the first quarter of 2025, mainly contributed by Tranglo.

EBITDA analysis

For the three-month period ended March 31, 2025

Tranglo

WalletKu

TNG
Asia
and GEA

Headquarters
and
adjustments

Group
Total

(dollars in thousands)

Net income (loss)

1,160

(136

)

–

(5,511

)

(4,487

)

Add:

Income tax expenses

141

–

(93

)

Interest expense, net

–

1,066

1,087

EBIT

1,322

(136

)

–

(4,538

)

(3,352

)

Depreciation and amortization

–

554

EBITDA

1,322

(136

)

–

(4,538

)

(2,798

)

The Company’s total EBITDA for the first quarter of 2025 was a loss of $2.8 million.

Tranglo and WalletKu’s combined EBITDA for the first quarter of 2025 was $1.2 million.

TNG Asia and GEA’s combined losses had no impact on the Company’s results from the fourth quarter of 2024 onwards as they were divested before the completion of the de-SPAC merger.

Headquarters expenses and adjustments recorded an EBIT loss of $4.5 million, mainly contributed by:
- $2.2 million in “Operating Expenses” in recognition of the incentive shares granted upon completion of the de-SPAC merger.
- $0.8 million for professional fees.

For the three-month period ended March 31, 2024	Tranglo		WalletKu			TNG Asia and GEA			Headquarters and adjustments			Group Total
	(dollars in thousands)
Net income (loss)		1,070		(123	)		(1,039	)		(2,540	)		(2,632	)

Add:
Income tax expenses		163		–			–			(92	)		71
Interest expense, net		–		–			242			1,069			1,311
EBIT		1,233		(123	)		(797	)		(1,563	)		(1,250	)
Depreciation and amortization		–		–			–			–			1,016
EBITDA		1,233		(123	)		(797	)		(1,563	)		(234	)

Net loss was US$4.5 million for the first quarter of 2025, primarily driven by the net loss of $5.5 million incurred by headquarters and adjustments.

Management Comments
“As demand for digital remittance continues to grow steadily, intensified market competition is compressing pricing,” said Alex Kong, Founder and Executive Chairman of Currenc. “Against this backdrop, we strove to maintain Tranglo’s healthy take rate while delivering TPV of US $1.30 billion in the first quarter of 2025, underscoring the strength of our core remittance platform and our disciplined strategic execution. Looking ahead, we are positioning Currenc for higher‑margin growth through two key initiatives: scaling our AI product offerings and expanding our remittance services into major corridors. We believe this combination of broader reach and AI‑driven innovation will support a more diversified revenue base and a structurally stronger bottom line.”

Ronnie Hui, Chief Executive Officer of Currenc, commented, “While softer airtime demand weighed on our total revenues, our remittance business remained resilient amid a competitive environment in the first quarter of 2025, supporting a combined EBITDA for Tranglo and WalletKu of US $1.2 million. We are reallocating capital toward accelerating our AI initiatives and building higher‑margin remittance corridors to boost product value and operational scale, priming the Company for quality growth throughout the year. We also enhanced cost management and maintained Tranglo’s payout rate at 0.13%. Operating expenses rose to US $7.5 million, primarily due to a one‑time US $2.2 million share‑based incentive linked to the de‑SPAC merger, as well as costs related to our new AI initiatives. Outside of these expenses, our headquarters’ operating costs remained broadly stable. Going forward, this strengthened bottom line will allow us to invest in AI-driven growth while maintaining financial discipline.”

Non-GAAP Financial Measures
To supplement the Company’s consolidated financial statements, which are prepared and presented in accordance with GAAP, it uses EBITDA, a non-GAAP financial measure as described below, to understand and evaluate its core operating performance. This non-GAAP financial measure, which may differ from similarly titled measures used by other companies, is presented to enhance investors’ overall understanding of the Company’s financial performance and should not be considered a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP.

EBITDA is defined as net loss before interest, taxes, depreciation, and amortization. Currenc believes that EBITDA provides useful information to investors and others in understanding and evaluating its operating results. This non-GAAP financial measure eliminates the impact of items that Currenc does not consider indicative of the performance of its business. While Currenc believes that this non-GAAP financial measure is useful in evaluating its business, this information should be considered supplemental in nature and is not meant as a substitute for the related financial information prepared in accordance with GAAP.

About Currenc Group Inc.
Currenc Group Inc. (Nasdaq: CURR) is a fintech pioneer dedicated to transforming global financial services through artificial intelligence (AI). The Company empowers financial institutions worldwide with comprehensive AI solutions, including SEAMLESS AI Call Centre and other AI-powered Agents designed to reduce costs, increase efficiency and boost customer satisfaction for banks, insurance, telecommunications companies, government agencies and other financial institutions. The Company’s digital remittance platform also enables e-wallets, remittance companies, and corporations to provide real-time, 24/7 global payment services, advancing financial access across underserved communities.

For additional information, please refer to the Currenc website https://www.currencgroup.com and the annual report on Form 10-K for the year ended December 31, 2024, filed with the Securities and Exchange Commission.

Safe Harbor Statement
This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. Further information regarding these and other risks, uncertainties, or factors is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.

Investor & Media Contact
Currenc Group Investor Relations
Email: investors@currencgroup.com

SOURCE: Currenc Group Inc.


CURRENC GROUP INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

	Three months ended March 31,
	2025			2024
	US$			US$
Revenue		10,055,569			13,104,123

Cost of revenue		(6,854,172	)		(8,696,562	)
Gross profit		3,201,397			4,407,561
Selling expenses		–			(3,987	)

General and administrative expenses		(7,522,252	)		(5,824,208	)

Loss from operations		(4,320,855	)		(1,420,634	)
Finance costs, net		(1,087,313	)		(1,311,363	)
Other income		969,691			189,735
Other expenses		(402	)		(19,137	)

Loss before income tax		(4,438,879	)		(2,561,399	)
Income tax expense		(48,479	)		(70,529	)

Net loss		(4,487,358	)		(2,631,928	)
Net income attributable to non-controlling interests		(187,000	)		(403,056	)

Net loss attributable to Currenc Group Inc.		(4,674,358	)		(3,034,984	)

Net loss per share, basic and diluted (1)	$	(0.13	)	$	(0.09	)

Shares used in net loss per share computation, basic and diluted (1)		35,374,891			33,980,753

Other comprehensive loss:
Foreign currency translation adjustments		171,532			368,135

Total comprehensive loss		(4,315,826	)		(2,263,793	)
Total comprehensive loss (income) attributable to non-controlling interests		(228,069	)		(407,798	)
Total comprehensive loss attributable to Currenc Group Inc.		(4,543,895	)		(2,671,591	)

^{(1) Retrospectively restated to reflect Reverse Recapitalization}

CURRENC GROUP INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

	March 31, 2025			December 31, 2024
		US$			US$
ASSETS
Current assets:
Cash and cash equivalents		62,300,298			63,821,397
Restricted cash		40,978			40,742
Accounts receivable, net		2,103,924			2,115,681
Other financial assets		3,171,000			–
Amounts due from related parties		449,094			560,823
Prepayments, receivables and other assets		25,874,112			20,948,216
Total current assets		93,939,406			87,486,859
Non-current assets:
Equipment and software, net		1,118,661			1,055,520
Right-of-use asset		294,965			349,240
Intangible assets		3,000,978			3,386,117
Goodwill		12,059,428			12,059,428
Deferred tax assets		344,291			342,822
Total non-current assets:		16,818,323			17,193,127
Total assets		110,757,729			104,679,986
LIABILITIES AND SHAREHOLDERS’ DEFICIT
Current liabilities:
Borrowings		20,128,362			20,150,058
Receivable factoring		480,225			258,415
Other financial liabilities		3,329,550			–
Accounts payable, accruals and other payables		51,411,453			55,329,740
Amounts due to related parties		76,472,666			67,697,074
Convertible bonds		1,750,000			1,750,000
Lease liabilities		177,505			171,909
Total current liabilities:		153,749,761			145,357,196
Non-current liabilities:
Deferred tax liabilities		784,479			876,912
Employee benefit obligation		39,259			45,289
Lease liabilities		111,833			156,647
Total non-current liabilities:		935,571			1,078,848
Total liabilities		154,685,332			146,436,044

Commitments and contingencies (Note 10)

Shareholders’ deficit:
Ordinary shares (US$0.0001 par value; 550,000,000 shares authorized 46,527,999 and 46,527,999 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively) (1)		4,653			4,653
Additional paid-in capital (1)		67,797,587			65,638,838
Accumulated deficit		(136,197,260	)		(131,522,902	)
Accumulated other Comprehensive Loss		7,873			(108,122	)
Total shareholders’ deficit attributable to Currenc Group Inc.		(68,387,147	)		(65,987,533	)
Non-controlling interests		24,459,544			24,231,475
Total deficit		(43,927,603	)		(41,756,058	)
Total liabilities and shareholders’ deficit		110,757,729			104,679,986

^{(1) Retrospectively restated to reflect Reverse Recapitalization}

CURRENC GROUP INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

	Three months ended March 31,
	2025			2024
	US$			US$
Cash flows from operating activities:
Net loss		(4,487,358	)		(2,631,928	)
Adjustments to reconcile net loss to net cash provided by operating activities:
Non-cash expense for Share-based compensation		2,158,749			–
Depreciation of equipment and software		123,799			142,518
Depreciation of right-of-use assets		53,712			41,981
Amortization of intangible assets		385,139			831,392
Deferred income taxes		(92,426	)		54,704
Disposal of fixed assets		401			–
Unrealized foreign exchange gain		328,269			(124,690	)
Changes in operating assets and liabilities:
Accounts receivable		33,923			(110,270	)
Prepayments, receivables and other assets		(4,918,772	)		9,477,057
Escrow money payable		–			218,542
Client money payable		–			146,847
Accounts payable, accruals and other payables		(4,068,655	)		(7,014,740	)
Interest payable on convertible bonds		–			952,736
Amount due from a director		729,198			–
Amount due to Immediate holding company		23,766			–
Amounts due from related parties		(3,652	)		–
Amounts due to related parties		8,245,995			(2,205,121	)
Net cash used in operating activities		(1,487,912	)		(220,972	)

Cash flows from investing activities:
Decrease in short-term investments		–			615
Purchases of property, plant and equipment		(175,158	)		(12,058	)
Proceeds received from disposal of PPE		596			–
Net cash used in investing activities		(174,562	)		(11,443	)

Cash flows from financing activities:
Proceeds from borrowings		–			639,210
Repayment of borrowings		–			(95,742	)
Proceeds from receivable factoring		433,287			586,789
Repayment of receivable factoring		(218,974	)		(610,559	)
Payment of principal elements of lease liabilities		(65,286	)		(46,295	)
Payment of interest elements of lease liabilities		(7,416	)		(2,952	)
Net cash generated from/(used in) financing activities		141,611			470,451

Net decrease in cash and cash equivalents		(1,520,863	)		238,036
Cash and cash equivalents, restricted cash and escrow money receivable at beginning of the period		63,862,139			58,960,384
Cash and cash equivalents, restricted cash and escrow money receivable at end of the period		62,341,276			59,198,420

Supplemental disclosure of cash flow information:
Income taxes paid		(140,905	)		(15,825	)
Interest paid		(48,773	)		(346,270	)

CURRENC GROUP INC. AND SUBSIDIARIES

EBITDA Analysis for the First Quarter of 2025 and 2024

For the three-month period ended March 31, 2025

Tranglo

WalletKu

TNG Asia and GEA

Headquarters and adjustments

Group Total

(dollars in thousands)

Net income (loss)

1,160

(136

)

–

(5,511

)

(4,487

)

Add:

Income tax expenses

141

–

(93

)

Interest expense, net

–

1,066

1,087

EBIT

1,322

(136

)

–

(4,538

)

(3,352

)

Depreciation and amortization

–

554

EBITDA

1,322

(136

)

–

(4,538

)

(2,798

)

For the three-month period ended March 31, 2024	Tranglo		WalletKu			TNG Asia and GEA			Headquarters and adjustments			Group Total
	(dollars in thousands)
Net income (loss)		1,070		(123	)		(1,039	)		(2,540	)		(2,632	)

Add:
Income tax expenses		163		–			–			(92	)		71
Interest expense, net		–		–			242			1,069			1,311
EBIT		1,233		(123	)		(797	)		(1,563	)		(1,250	)
Depreciation and amortization		–		–			–			–			1,016
EBITDA		1,233		(123	)		(797	)		(1,563	)		(234	)

_{¹ TNG Asia and GEA were divested in August 2024 and July 2024, respectively.}
_{² Tranglo maintained a positive EBITDA for the first quarter of 2025 and 2024.}
_{³ Tranglo and WalletKu maintained a combined positive EBITDA for the first quarter of 2025 and 2024.}

____________________________________
_{¹ Currenc divested TNG Asia and GEA in August 2024 and July 2024, respectively. As such, from the fourth quarter of 2024 onward, only Tranglo’s (digital remittance and global airtime transfer businesses) and WalletKu’s (Indonesian airtime business) results will be consolidated and reported in the Company’s financial statements.}

The MIL Network –

May 21, 2025

MIL-OSI: Prairie Band Casino & Resort Transitions from Viz Explorer to Quick Custom Intelligence’s (QCI) Enterprise Platform

Source: GlobeNewswire (MIL-OSI)

SAN DIEGO, May 20, 2025 (GLOBE NEWSWIRE) — Quick Custom Intelligence (QCI), a leader in advanced casino management solutions, is excited to announce that Prairie Band Casino has chosen the QCI Enterprise Platform to enhance its data-driven operations. This significant move from Viz Explorer to QCI demonstrates Prairie Band Casino & Resort’s commitment to improving the guest experience by leveraging superior analytics and real-time operational insights.

As a prominent gaming destination, Prairie Band Casino & Resort is known for offering exceptional service to its patrons. With the adoption of the QCI Enterprise Platform, the casino will now utilize cutting-edge analytics, player development tools, and streamlined processes to drive performance optimization and guest satisfaction.

John Tuckwin, Marketing Director for Prairie Band Casino & Resort, shared his enthusiasm for the transition: “Our switch to the QCI Enterprise Platform reflects our ongoing mission to provide an exceptional gaming experience. The platform’s ability to deliver real-time data and comprehensive analytics will allow us to make informed decisions that will enhance both our operational efficiency and the overall satisfaction of our guests. This partnership signifies a step forward in Prairie Band Casino & Resort’s goal to stay at the forefront of gaming technology, further solidifying its position as a premier destination in the region.”

Andrew Cardno, CTO of QCI, expressed his enthusiasm for the partnership: “We are thrilled to welcome Prairie Band Casino & Resort to our growing network of gaming properties. Their decision to implement the QCI Enterprise Platform underscores their commitment to innovation, and we look forward to helping them streamline their operations and maximize revenue opportunities.”

Melissa Chiaurro, President of Viz Explorer, also commented on the collaboration:
“We are thrilled to announce our extended partnership with Prairie Band Casino & Resort and their dedicated team. By integrating the QCI Enterprise Platform, they are poised to gain deeper insights into their operations, enabling more informed decision-making and enhanced customer experiences. This collaboration underscores our commitment to supporting Prairie Band Casino & Resort in achieving their business objectives and delivering exceptional service to their guests. We look forward to the continued success of this partnership.”

ABOUT Prairie Band Casino & Resort
Prairie Band Casino & Resort opened January of 1998 and is owned and operated by the Prairie Band Potawatomi Nation. It is located on tribal land just north of Topeka, Kansas. The casino offers more than 1,100 slot machines including Class II games; a 400-seat bingo hall; and 25 table games including blackjack, craps and roulette. There are four dining options, lobby bar, luxury hotel, on-site convenience store and RV park. The 12,000-square-foot Great Lakes Ballroom plays host to concerts and other live performances, and the award-winning Firekeeper Golf Course is only steps away.

ABOUT QCI
Quick Custom Intelligence (QCI) has pioneered the revolutionary QCI AGI Platform, an artificial intelligence platform that seamlessly integrates player development, marketing, and gaming operations with powerful, real-time tools designed specifically for the gaming and hospitality industries. Our advanced, highly configurable software is deployed in over 250 casino resorts across North America, Australia, New Zealand, Canada, Latin America, and Europe. The QCI AGI Platform, which manages more than $35 billion in annual gross gaming revenue, stands as a best-in-class solution, whether on-premises, hybrid, or cloud-based, enabling fully coordinated activities across all aspects of gaming or hospitality operations. QCI’s data-driven, AI-powered software propels swift, informed decision-making vital in the ever-changing casino industry, assisting casinos in optimizing resources and profits, crafting effective marketing campaigns, and enhancing customer loyalty. QCI was co-founded by Dr. Ralph Thomas and Mr. Andrew Cardno and is based in San Diego, with additional offices in Las Vegas, St. Louis, Denver, Dallas, and Phoenix. Main phone number: (858) 299.5715. Visit us at www.quickcustomintelligence.com.

ABOUT Andrew Cardno
Andrew Cardno is a distinguished figure in the realm of artificial intelligence and data plumbing. With over two decades spearheading private Ph.D. and master’s level research teams, his expertise has made significant waves in data tooling. Andrew’s innate ability to innovate has led him to devise numerous pioneering visualization methods. Of these, the most notable is the deep zoom image format, a groundbreaking innovation that has since become a cornerstone in the majority of today’s mapping tools. His leadership acumen has earned him two coveted Smithsonian Laureates, and teams under his mentorship have clinched 40 industry awards, including three pivotal gaming industry transformation awards. Together with Dr. Ralph Thomas, the duo co-founded Quick Custom Intelligence, amplifying their collaborative innovative capacities. A testament to his inventive prowess, Andrew boasts over 150 patent applications.
Across various industries—be it telecommunications with Telstra Australia, retail with giants like Walmart and Best Buy, or the medical sector with esteemed institutions like City Of Hope and UCSD—Andrew’s impact is deeply felt. He has enriched the literature with insights, co-authoring eight influential books with Dr. Thomas and contributing to over 100 industry publications. An advocate for community and diversity, Andrew’s work has touched over 100 Native American Tribal Resorts, underscoring his expansive and inclusive professional endeavors.

Contact:
Laurel Kay, Quick Custom Intelligence
Phone: 858-349-8354

The MIL Network –

May 21, 2025