Category: GlobeNewswire

MIL-OSI: Diversified Energy’s Unique Strategy Produces Reliable Cash Flow and Strong Full Year 2024 Results

Source: GlobeNewswire (MIL-OSI)

Seventh Year in a Row of Approximately 50% or Better Cash Margins

Cash Flow Growth Initiatives Contributed Over $50 million in Cash Flow

Company Returned Over $105 million to Shareholders in 2024

BIRMINGHAM, Ala., Feb. 11, 2025 (GLOBE NEWSWIRE) — Diversified Energy Company PLC (LSE: DEC, NYSE: DEC) (“Diversified” or the “Company”) is pleased to announce the following operations and trading update for the year ended December 31, 2024.

Delivering Reliable Results

Full-year 2024 average production of 791 MMcfepd (132 Mboepd)
- 4Q24 average production of 843 MMcfepd (141 Mboepd)
- December 2024 exit rate of 864 MMcfepd (144 Mboepd)
2024 Adjusted EBITDA^(a) of $470-$475 million; Adjusted Free Cash Flow^(b) of $210-$215 million
2024 Adjusted EBITDA Margin^(a) of 50%and TTM Adjusted Free Cash Flow Yield^(b) of 33%
- 2024 Total Revenue, Inclusive of Settled Hedges per Unit^(c) of $3.21/Mcfe ($19.28/Boe)
- 2024 Adjusted Operating Cost per Unit^(d) of $1.70/Mcfe ($10.22/Boe)

Cash Flow Growth Initiatives

Announced fixed-price contract for gas delivery to a major Gulf Coast LNG export facility
Generated ~$42 million year-to-date in cash flow through divestiture of undeveloped leasehold
Recorded $8 million in impact to Adjusted EBITDA from Coal Mine Methane (“CMM”) Revenues

Executing Strategic Objectives and Milestones

Retired over $200 million in debt principal through amortizing debt payments
Returned $105 million to shareholders, including $21 million in share buybacks^(e)
Completed $585 million (gross) in strategic and bolt-on acquisition during 2024
Announced accretive bolt-on acquisition of southern Appalachia assets from Summit Natural Resources
Announced transformative $1.3 billion acquisition of Maverick Natural Resources
Marked one full year of trading on the New York Stock Exchange and as is customary, the Company expects to file a shelf registration with the US Securities and Exchange Commission

Next LVL Milestones

The Company retired 202 operated wells in 2024, marking its third consecutive year to exceed its stated goal of retiring 200 wells per year
Next LVL Energy completed a total 287 well retirements, including Diversified’s wells and 85 wells associated with state-owned orphan wells and third-party operators

Rusty Hutson, Jr., CEO of Diversified, commented:

“Our team executed extremely well and continued to deliver solid results in 2024 that enabled us to advance our balanced capital allocation framework. Our strong results highlight our unique business model that strives to deliver consistent cash flow during the full range and volatility of commodity cycles. Aligned with our priorities, we generated significant cash flows, returned capital to investors, and paid down more than $200 million in debt principal, all while executing and integrating over $585 million in accretive acquisitions. Once again, our ability to deliver durable production and consistent cash flow throughout the year was a result of our team’s relentless execution of our strategies. We are committed to lowering costs and improving operational efficiencies across the organization, along with providing innovative solutions to extract hidden value from our asset base. The results we have achieved in 2024 strike at the heart of our business model and strategy.

We believe that 2025 has the potential to be a transformative year for the Company as we work to execute our strategic initiative to become the premier public company focused on managing mature producing assets. The Company’s previously announced accretive acquisitions of Summit Natural Resources and Maverick Natural Resources are proceeding as planned, and we have received encouraging comments from both shareholders and the public debt and equity markets. During the past year, we have seen our strategy and our previous investment decisions yield increased performance in all aspects of our business model. We are optimistic about our future and confident that our current efforts will continue to position us well to have a significant positive impact on shareholder value.”

Operations and Finance Update

Production

Diversified exited the year with December 2024 average production of 864 MMcfepd (144 Mboepd), up 11% versus the December 2023 exit rate of 775 MMcfepd (129 Mboepd), reflecting the cumulative effect of the Company’s 2024 acquisitions and industry-leading PDP declines of ~10% per year^(f).

Diversified ended the year with 4Q24 average production of 843 MMcfepd (141 Mboepd) and full-year 2024 average production of 791 MMcfepd (132 Mboepd).

The Company’s production continues to be positively impacted by Diversified’s Smarter Asset Management (“SAM”) approach focused on the improvement and optimization of production profiles, development of efficiency gains and extension of well life, and the Company is well-positioned to again-deliver on a solid operational foundation for robust cash flows in 2025 with the additional impact of the recently announced acquisitions of Maverick Natural Resources and Summit Natural Resources.

Margin, Realized Price and Total Cash Expenses per Unit

Diversified’s resilient cash flow strategy is exemplified by the Company’s 2024 Adjusted EBITDA Margin of 50%, marking the Company’s seventh consecutive annual period of ~50% margins or higher.

The Company’s commitment to responsibly hedge production and initiatives to expand revenue generation is reflected in 2024 Total Revenue, Inclusive of Settled Hedges per unit of $3.21/Mcfe ($19.28/Boe), with Financial Derivatives Settled in Cash delivering $151 million in cash flows, and Midstream & Other Revenue delivering $63 million in supplemental income during the year.

Prudent expense management resulted in the stable Adjusted Operating Cost per Unit for 2024 of just $1.70/Mcfe ($10.22/Boe) representing a minimal 1% change when compared to the prior year.

		2024				2023
	$/Mcfe		$/Boe		$/Mcfe		$/Boe		%

Total Commodity Revenue,Including the Impact of derivatives settled in cash	$	3.05	$	18.30	$	3.27	$	19.62	(7	)%
Other Revenue¹		0.16		0.98		0.13		0.75	31	%
Average Realized Price¹	$	3.21	$	19.28	$	3.40	$	20.37	(5	)%

Adjusted Operating Cost per Unit^(d)		2024				2023
	$/Mcfe		$/Boe		$/Mcfe		$/Boe		%

Lease Operating Expense²	$	0.73	$	4.40	$	0.64	$	3.83	15	%
Midstream Expense		0.24		1.44		0.23		1.38	4	%
Gathering and Transportation		0.31		1.86		0.32		1.92	(3	)%
Production Taxes		0.12		0.72		0.21		1.26	(43	)%
Total Operating Expense²	$	1.40	$	8.42	$	1.40	$	8.39	—	%
Employees, Administrative Costs and Professional Fees^(g)		0.30		1.80		0.29		1.74	3	%
Adjusted Operating Cost per Unit²	$	1.70	$	10.22	$	1.69	$	10.13	1	%

Adjusted EBITDA Margin^(a)		50%				53%

¹2024 excludes $0.06/Mcfe ($0.34/Boe) and 2023 excludes $0.09/Mcfe ($0.57/Boe) of other revenues generated by Next LVL Energy Values may not sum due to rounding; 2024 excludes $0.09/Mcfe ($0.54/Boe) & 2023 excludes$0.08/Mcfe ($0.48/Boe) of proceeds from land sales ²2024 excludes $(0.07)/Mcfe ($(0.40)/Boe) and 2023 excludes $(0.07)/Mcfe ($(0.43)/Boe) of expenses attributable to Next LVL Energy Values may not sum due to rounding

Results of Hedging and Current Financial Derivatives Portfolio

Diversified’s consistent application of the Company’s differentiated hedging strategy resulted in a 2024 weighted average natural gas hedge floor of $3.26/MMbtu and realized price of $2.49/MMBtu, providing insulation from historically low commodity prices and representing respective premiums of 44% and 10% to the 2024 NYMEX average Henry Hub settlement price of $2.27/MMbtu^(h). The Company enters 2025 with ~80% of consolidated production hedged, and stands to benefit from the recent improvement in the forward strip. The table below reflects Diversified’s full-year hedge positions through calendar year 2027 as of December 31, 2024:

	GAS (Mcf)		NGL (Bbl)		OIL (Bbl)
	Wtd. Avg. Hedge Price⁽ⁱ^)(j)	~ % of Production Hedged^(k)	Wtd. Avg. Hedge Price⁽ⁱ⁾	~ % of Production Hedged^(k)	Wtd. Avg. Hedge Price⁽ⁱ⁾	~ % of Production Hedged^(k)

FY25	$3.32	85%	$33.98	60%	$64.25	90%
FY26	$3.25	75%	$32.38	55%	$62.44	55%
FY27	$3.27	70%	$32.29	45%	$62.67	50%

Environmental Update

Asset Retirement Progress and Next LVL Energy Update

During the year, the Company exceeded its Appalachian well retirement commitments and stated plugging goals by retiring 202 Diversified-operated wells. Total well retirements by Next LVL Energy in Appalachia amounted to 287 wells, including 51 retirements associated with state orphan well programs.

Next LVL Energy continues to be a strategic and value-additive component of Diversified’s vertically integrated operations focused on the full life cycle of operated wells and to provide third-party revenue to offset the cash costs associated with the retirement of operated wells.

Acquisition Update

2024 Acquisitions Update

The Company’s previously announced acquisition of Oaktree Working Interests, Crescent Pass Energy assets and East Texas assets were successfully closed in the course of the year, representing $585 million (gross) in strategic, accretive acquisitions in 2024. These assets have been fully integrated into Diversified’s systems and processes, and are already benefiting from the Company focus on safe, efficient operations through the application of Smarter Asset Management.

Summit Natural Resources

Diversified’s previously announced acquisition of Appalachia and Alabama assets from Summit Natural Resources is proceeding as planned and the Company expects to close the transaction in the first quarter of 2025.

Maverick Natural Resources

As previously announced on January 27, 2025, Diversified has entered into a definitive agreement to acquire Maverick Natural Resources for total consideration of approximately $1,275 million. The acquisition of Maverick by Diversified (the “Acquisition”) adds immediate scale, increases liquids production, and creates a combined company with long-term free cash flow generation, superior unit cash margins, and a compelling sustainability profile.

The Acquisition is expected to close during the first half of 2025, subject to customary closing conditions, including, among others, regulatory clearance and approval by Diversified shareholders for the issue and allotment of the Ordinary Shares pursuant to the merger agreement.

2024 Annual Results and Conference Call Details

Diversified will release its 2024 full-year results on Monday, March 17, 2025 and will host a conference call that day at 12:30 PM GMT (8:30 AM EDT) to discuss the Annual Results.

Footnotes:

(a)	Adjusted EBITDA represents earnings before interest, taxes, depletion, and amortization, and includes adjustments for items that are not comparable period-over-period; As presented, Adjusted EBITDA includes the impact of the accounting basis for land sales; Adjusted EBITDA Margin represents Adjusted EBITDA (excluding the adjustment for the accounting basis on land sales) as a percent of Total Revenue, Inclusive of Settled Hedges; For purposes of comparability, Adjusted EBITDA Margin excludes Other Revenue of $16 million in 2024 and $28 million in 2023, and Lease Operating Expense of $19 million in 2024 and $21 million in 2023 associated with Diversified’s wholly owned plugging subsidiary, Next LVL Energy.
(b)	Free Cash Flow represents net cash provided by operating activities less expenditures on natural gas and oil properties and equipment and cash paid for interest; As used herein, Adjusted Free Cash Flow represents Free Cash Flow, plus cash proceeds from undeveloped acreage sales; Adjusted Free Cash Flow Yield is calculated using 2024 Free Cash Flow per share, divided by the 2024 average share price of $13.47; Free Cash Flow per Share calculated as Adjusted Free Cash Flow divided by average shares outstanding of 48,031,916 during the period.
(c)	Includes the impact of derivatives settled in cash; Excludes the impact of land sales during the period; For purposes of comparability, excludes certain amounts related to Diversified’s wholly owned plugging subsidiary, Next LVL Energy.
(d)	Adjusted Operating Cost represent total lease operating costs plus recurring administrative costs. Total lease operating costs include base lease operating expense, owned gathering and compression (midstream) expense, third-party gathering and transportation expense, and production taxes. Recurring administrative expenses (Adjusted G&A) is a Non-IFRS financial measure defined as total administrative expenses excluding non-recurring acquisition & integration costs and non-cash equity compensation; For purposes of comparability, excludes certain amounts related to Diversified’s wholly owned plugging subsidiary, Next LVL Energy.
(e)	Share repurchases include activity by Diversified’s Employee Benefit Trust.
(f)	Calculated as the rate of decline in average daily production from December 2023 to December 2024, adjusted to exclude the impact of acquisitions and divestitures.
(g)	As used herein, employees, administrative costs and professional services represents total administrative expenses excluding cost associated with acquisitions, other adjusting costs and non-cash expenses. We use employees, administrative costs and professional services because this measure excludes items that affect the comparability of results or that are not indicative of trends in the ongoing business.
(h)	Calculated as the average monthly settlement price for NYMEX Henry Hub futures contracts.
(i)	Weighted average price reflects the weighted average of the swap price and floor price for collar contracts as applicable.
(j)	MMBtu prices have been converted to Mcf using a richness factor of 1Mcf=1.036 MMBtu, calculated as the weighted average Btu richness factor for the twelve months ended December 31, 2024.
(k)	Illustrative percent hedged, calculated using December 2024 average production and assuming a consolidated annual corporate decline rate of 10%; Calculation assumes constant product mix over the illustrative decline period.

For Company-specific items, refer also to the Glossary of Terms and/or Alternative Performance Measures found in the Company’s Annual Report and Form 20-F for the year ended December 31, 2023 filed with the United States Securities and Exchange Commission and available on the Company’s website.

For further information, please contact:

About Diversified Energy Company PLC

Diversified is a leading publicly traded energy company focused on natural gas and liquids production, transport, marketing, and well retirement. Through our unique and differentiated strategy, we acquire existing, long-life assets and invest in them to improve environmental and operational performance until retiring those assets in a safe and environmentally secure manner. Recognized by ratings agencies and organizations for our sustainability leadership, this solutions-oriented, stewardship approach makes Diversified the Right Company at the Right Time to responsibly produce energy, deliver reliable free cash flow, and generate shareholder value.

Forward-Looking Statements

This announcement contains forward-looking statements (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995) concerning the financial condition, results of operations and business of the Company and its wholly owned subsidiaries (the “Group”). All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. These forward-looking statements, which contain the words “anticipate”, “believe”, “intend”, “estimate”, “expect”, “may”,”should”,”intend”, “will”, “seek”, “continue”, “aim”, “target”, “projected”, “plan”, “goal”, “achieve” and words of similar meaning, reflect the Company’s beliefs and expectations and are based on numerous assumptions regarding the Company’s present and future business strategies and the environment the Company and the Group will operate in and are subject to risks and uncertainties that may cause actual results to differ materially. No representation is made that any of these statements or forecasts will come to pass or that any forecast results will be achieved. Forward-looking statements involve inherent known and unknown risks, uncertainties and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and may cause the actual results, performance or achievements of the Company or the Group to be materially different from those expressed or implied by such forward looking statements. Many of these risks and uncertainties relate to factors that are beyond the Company’s or the Group’s ability to control or estimate precisely, such as the expected timing and likelihood of completion of the Acquisition and the risk that problems may arrise in successfully integrating Maverick or that the combined company may not achieve synergies as expected,as well as factors such as future market conditions, currency fluctuations, the behavior of other market participants, the actions of regulators and other factors such as the Company’s or the Group’s ability to continue to obtain financing to meet its liquidity needs, the Company’s ability to successfully integrate its other acquisitions, changes in the political, social and regulatory framework in which the Company or the Group operate or in economic or technological trends or conditions. The list above is not exhaustive and there are other factors that may cause the Company’s or the Group’s actual results to differ materially from the forward-looking statements contained in this announcement, including the risk factors described in the “Risk Factors” section in the Company’s Annual Report and Form 20-F for the year ended December 31, 2023, filed with the United States Securities and Exchange Commission ( the “SEC”) and the risk factors descibed in Exhibit 99.2 to the Company’s Form 6-k furnished with the SEC on January 27, 2025.

Forward-looking statements speak only as of their date and neither the Company nor the Group nor any of its respective directors, officers, employees, agents, affiliates or advisers expressly disclaim any obligation to supplement, amend, update or revise any of the forward-looking statements made herein, except where it would be required to do so under applicable law. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements in this announcement, may not occur. As a result, you are cautioned not to place undue reliance on such forward-looking statements. Past performance of the Company cannot be relied on as a guide to future performance. No statement in this announcement is intended as a profit forecast or a profit estimate and no statement in this announcement should be interpreted to mean that the financial performance of the Company for the current or future financial years would necessarily match or exceed the historical published for the Company.

Unaudited Financial Information

Certain financial and operating results included in this announcement are based on unaudited estimated results. These estimated results are subject to change upon completion of the Company’s audited financial statements for the year ended December 31, 2024, and changes could be material. The Company anticipates publishing its audited financial results for the year ended December 31, 2024 on Tuesday, March 17, 2025.

Use of Non-IFRS Measures

Certain key operating metrics that are not defined under IFRS (alternative performance measures) are included in this announcement. These non-IFRS measures are used by us to monitor the underlying business performance of the Company from period to period and to facilitate comparison with our peers. Since not all companies calculate these or other non-IFRS metrics in the same way, the manner in which we have chosen to calculate the non-IFRS metrics presented herein may not be compatible with similarly defined terms used by other companies. The non-IFRS metrics should not be considered in isolation of, or viewed as substitutes for, the financial information prepared in accordance with IFRS. Certain of the key operating metrics are based on information derived from our regularly maintained records and accounting and operating systems. We have not presented reconciliations of the non-IFRS measures included in this announcement because the comparable IFRS measures will not be accessible until the Company’s audited financial results for the year ended December 31, 2024 are complete. The Company will include the comparable IFRS measures and reconciliations of the non-IFRS measures in its release of full-year results, which we expect to publish on Tuesday, March 17, 2025.

The MIL Network –

February 12, 2025

MIL-OSI: HackerRank Introduces New Benchmark to Assess Advanced AI Models
Source: GlobeNewswire (MIL-OSI)

CUPERTINO, Calif., Feb. 11, 2025 (GLOBE NEWSWIRE) — HackerRank, the Developer Skills Company, today introduced its new ASTRA Benchmark. ASTRA, which stands for Assessment of Software Tasks in Real-World Applications, is designed to evaluate the capabilities of advanced AI models, such as ChatGPT, Claude or Gemini, to perform tasks across the entire software development lifecycle.

The ASTRA Benchmark consists of multi-file, project-based problems designed to mimic real-world coding tasks. The intent of the HackerRank ASTRA Benchmark is to determine the correctness and consistency of an AI model’s coding ability in relation to practical applications.

“With the ASTRA Benchmark, we’re setting a new standard for evaluating AI models,” said Vivek Ravisankar, co-founder and CEO of HackerRank. “As software development becomes more human + AI, it’s important that we have a very good understanding of the combined abilities. Our experience pioneering the market in assessing software development skills makes us uniquely qualified to assess the abilities of AI models acting as agents for software developers.”

A key highlight from the benchmark showed o1 from OpenAI was the top performer, but Claude- -3.5-sonnet produced more consistent results.

Key features of ASTRA Benchmark include:
- Diverse skill domains: The current version includes 65 project-based coding questions, primarily focused on front-end development. These questions are categorized into 10 primary coding skill domains and 34 subcategories.
- Multi-file project questions: To mimic real-world development, ASTRA’s dataset includes an average of 12 source code and configuration files per question as model inputs. This results in an average of 61 lines of solution code per question.
- Model correctness and consistency evaluation: To provide a more precise assessment, ASTRA prioritizes comprehensive metrics such as average scores, average pass@1 and median standard deviation.
- Wide test case coverage: ASTRA’s dataset contains an average of 6.7 test cases per question, designed to rigorously evaluate the correctness of implementations.
- Benchmark Results: For a full report and analysis of the initial benchmark results, please visit hackerrank.com/ai/astra.
Ravisankar added, “By open sourcing our ASTRA Benchmark, we’re offering the AI community the opportunity to run their models against a high-quality, independent benchmark. This supports the continued advancement of AI while fostering more collaboration and transparency in the AI community to ensure the integrity of new models.”

For more information about HackerRank’s ASTRA Benchmark, contact rafik@hackerrank.com.

About HackerRank
HackerRank, the Developer Skills Company, leads the market with over 2,500 customers and a community of over 25 million developers. Having pioneered this space, companies trust HackerRank to help them set up a skills strategy, showcase their brand to developers, implement a skills-based hiring process, and ultimately upskill and certify employees…all driven by AI. Learn more at hackerrank.com.

The MIL Network –
February 12, 2025
MIL-OSI: Employ Introduces New Features in Winter 2025 Product Release
Source: GlobeNewswire (MIL-OSI)

DENVER, Feb. 11, 2025 (GLOBE NEWSWIRE) — Employ Inc., a leading provider of people-first recruiting and talent acquisition solutions, including JazzHR, Lever and Jobvite, today announced the details of its Winter 2025 product release.

In today’s job market, where every hire matters, it is time for recruiters to shift from ‘doing more with less’ to ‘doing better.’ To help bring out the best in recruiting teams, Employ has invested in and delivered new innovations to enhance the effectiveness and consistency of the entire hiring process.

The Employ Winter release is focused on delivering simpler processes and a flexible talent ecosystem to help enhance the recruiting process. These enhancements streamline recruiting operations by automating tasks, improving connectivity and reducing errors, enabling teams to focus on strategic hiring and building stronger candidate relationships.

Highlights include:
- A more simplified, candidate-friendly experience
  - Empower candidates to take control of their interview experience by self-scheduling for in-person and virtual panel interviews in Lever.
  - Ensure candidates receive timely communications with Jobvite’s automated interview invitations.
- Automation and insights so recruiters can focus on more impactful work
  - Jobvite customers can connect their CRM to LinkedIn Recruiter to streamline the sourcing workflow. Recruiters can find and add promising candidates from LinkedIn to their CRM while maintaining an accurate work history and skills data.
  - Free up recruiters’ time for high-impact work with the ability to update multiple jobs at once, positively impacting the overall candidate experience
    
    For Lever customers, recruiters can now close multiple roles simultaneously, eliminating repetitive, manual work.
    
    Within Jobvite, recruiters can now update multiple requisition statuses at the same time to accelerate the hiring process without the admin work.
- Greater flexibility for admins to build the right workflow for their needs
  - For Jobvite customers, their third-party vendors can now pull candidate data from their CRM based on criteria like date ranges and status changes.
  - Recruiters can now easily turn LinkedIn Easy Apply on and off per job in JazzHR, allowing them to control application volume and conduct more targeted sourcing efforts. This innovation will roll out progressively to all customers in March.
“At Employ, we’re focused on driving innovations across our entire portfolio that address, head-on, the real problems of recruiters today,” said Dara Brenner, Chief Product Officer at Employ. “With simpler processes and a flexible talent ecosystem, we can enable recruiters to focus on building meaningful relationships with top talent and achieve better hiring outcomes to drive organizational success. We are committed to growth and excellence for our customers, and with personalized choice and optionality, we can help them stay ahead and remain flexible in an increasingly competitive landscape.”

Brenner continued, “This year, customers in the Employ ecosystem can anticipate faster access to industry-leading hiring technology. By building foundational components once and seamlessly integrating them across all our best-in-class applicant tracking systems, we’re accelerating time to market, ensuring that every customer, regardless of size, benefits from the same innovative technology to increase their competitive advantage.”

For more from Brenner about this current release and what’s ahead for Employ, read the company’s latest blog here.

To learn more about Employ Inc. and its people-first approach to talent acquisition, visit www.employinc.com.

About Employ Inc.
Employ Inc. provides people-first recruiting solutions that empower companies to overcome their greatest hiring challenges. Serving SMBs to global enterprises, Employ focuses on the unique recruiting needs of each organization — from foundational hiring to sophisticated talent acquisition. Employ is the only organization to offer companies choice in their hiring solutions, providing a curated set of recruiting technologies and services. Together, Employ and its solutions (JazzHR, Lever, Jobvite) serve more than 23,000 customers across multiple industries. For more information, visit www.employinc.com.

The MIL Network –
February 12, 2025

MIL-OSI: Bread Financial Provides Performance Update for January 2025

Source: GlobeNewswire (MIL-OSI)

COLUMBUS, Ohio, Feb. 11, 2025 (GLOBE NEWSWIRE) — Bread Financial ^® Holdings, Inc. (NYSE: BFH), a tech-forward financial services company that provides simple, personalized payment, lending, and saving solutions to millions of U.S. consumers, provided a performance update. The following tables present the Company’s net loss rate and delinquency rate for the periods indicated:

	For the month ended January 31, 2025			For the month ended January 31, 2024
	(dollars in millions)
End-of-period credit card and other loans	$	18,366		$	18,785
Average credit card and other loans	$	18,530		$	18,915
Year-over-year change in average credit card and other loans		(2	%)		(9	%)
Net principal losses	$	123		$	128
Net loss rate		7.8	%		8.0	%

	As of January 31, 2025			As of January 31, 2024
	(dollars in millions)
30 days + delinquencies – principal	$	1,032		$	1,170
Period ended credit card and other loans – principal	$	16,874		$	17,311
Delinquency rate		6.1	%		6.8	%

About Bread Financial^® 
Bread Financial^® (NYSE: BFH) is a tech-forward financial services company that provides simple, personalized payment, lending and saving solutions to millions of U.S. consumers. Our payment solutions, including Bread Financial general purpose credit cards and savings products, empower our customers and their passions for a better life. Additionally, we deliver growth for some of the most recognized brands in travel & entertainment, health & beauty, jewelry and specialty apparel through our private label and co-brand credit cards and pay-over-time products providing choice and value to our shared customers.

To learn more about Bread Financial, our global associates and our sustainability commitments, visit breadfinancial.com or follow us on Instagram and LinkedIn.

Forward-Looking Statements

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements give our expectations or forecasts of future events and can generally be identified by the use of words such as “believe,” “expect,” “anticipate,” “estimate,” “intend,” “project,” “plan,” “likely,” “may,” “should” or other words or phrases of similar import. Similarly, statements that describe our business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. Examples of forward-looking statements include, but are not limited to, statements we make regarding, and the guidance we give with respect to, our anticipated operating or financial results, future financial performance and outlook, future dividend declarations, and future economic conditions.

We believe that our expectations are based on reasonable assumptions. Forward-looking statements, however, are subject to a number of risks and uncertainties that are difficult to predict and, in many cases, beyond our control. Accordingly, our actual results could differ materially from the projections, anticipated results or other expectations expressed in this release, and no assurances can be given that our expectations will prove to have been correct. Factors that could cause the outcomes to differ materially include, but are not limited to, the following: macroeconomic conditions, including market conditions, inflation, interest rates, labor market conditions, recessionary pressures or concerns over a prolonged economic slowdown, and the related impact on consumer spending behavior, payments, debt levels, savings rates and other behaviors; global political and public health events and conditions, including ongoing wars and military conflicts and natural disasters; future credit performance, including the level of future delinquency and write-off rates; the loss of, or reduction in demand from, significant brand partners or customers in the highly competitive markets in which we compete; the concentration of our business in U.S. consumer credit; inaccuracies in the models and estimates on which we rely, including the amount of our Allowance for credit losses and our credit risk management models; the inability to realize the intended benefits of acquisitions, dispositions and other strategic initiatives; our level of indebtedness and ability to access financial or capital markets; pending and future federal and state legislation, regulation, supervisory guidance, and regulatory and legal actions, including, but not limited to, those related to financial regulatory reform and consumer financial services practices, as well as any such actions with respect to late fees, interchange fees or other charges; impacts arising from or relating to the transition of our credit card processing services to third party service providers that we completed in 2022; failures or breaches in our operational or security systems, including as a result of cyberattacks, unanticipated impacts from technology modernization projects or otherwise; and any tax or other liability or adverse impacts arising out of or related to the spinoff of our former LoyaltyOne segment or the bankruptcy filings of Loyalty Ventures Inc. (LVI) and certain of its subsidiaries and subsequent litigation or other disputes. In addition, the Consumer Financial Protection Bureau (CFPB) has issued a final rule that, absent a successful legal challenge, will place significant limits on credit card late fees, which would have a significant impact on our business and results of operations for at least the short term and, depending on the effectiveness of the mitigating actions that we have taken or may in the future take in anticipation of, or in response to, the final rule, may potentially adversely impact us over the long term; we cannot provide any assurance as to the effective date of the rule, the result of any pending or future challenges or other litigation relating to the rule, or our ability to mitigate or offset the impact of the rule on our business and results of operations. The foregoing factors, along with other risks and uncertainties that could cause actual results to differ materially from those expressed or implied in forward-looking statements, are described in greater detail under the headings “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the most recently ended fiscal year, which may be updated in Item 1A of, or elsewhere in, our Quarterly Reports on Form 10-Q filed for periods subsequent to such Form 10-K. Our forward-looking statements speak only as of the date made, and we undertake no obligation, other than as required by applicable law, to update or revise any forward-looking statements, whether as a result of new information, subsequent events, anticipated or unanticipated circumstances or otherwise.

Contacts
Brian Vereb — Investor Relations
Brian.Vereb@breadfinancial.com

Susan Haugen — Investor Relations
Susan.Haugen@breadfinancial.com

Rachel Stultz — Media
Rachel.Stultz@breadfinancial.com

The MIL Network –

February 12, 2025

MIL-OSI: OTC Markets Group Welcomes Tantalus Systems Holding Inc. to OTCQX

Source: GlobeNewswire (MIL-OSI)

NEW YORK, Feb. 11, 2025 (GLOBE NEWSWIRE) — OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced Tantalus Systems Holding Inc. (TSX: GRID; OTCQX: TNTLF), a technology company dedicated to helping utilities modernize their distribution grids by harnessing the power of data, has qualified to trade on the OTCQX® Best Market. Tantalus Systems Holding Inc. upgraded to OTCQX from the Pink® market.

Tantalus Systems Holding Inc. begins trading today on OTCQX under the symbol “TNTLF.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

Upgrading to the OTCQX Market is an important step for companies seeking to provide transparent trading for their U.S. investors. For companies listed on a qualified international exchange, streamlined market standards enable them to utilize their home market reporting to make their information available in the U.S. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws.

“Accessing the OTCQX Market highlights Tantalus’ dedication to transparency and operational excellence while also strengthening our access to U.S. investors,” said Peter Londa, President & CEO of Tantalus. “Given that the vast majority of our utility customers and revenue is generated from the United States, we believe cross-trading between the TSX and OTCQX will enhance liquidity and reinforces our commitment to delivering long-term value for our shareholders.”

About Tantalus Systems Holding Inc.
Tantalus is a technology company dedicated to helping utilities modernize their distribution grids by harnessing the power of data across all their devices and systems deployed throughout the entire distribution grid. We offer a grid modernization platform across multiple levels: intelligent connected devices, communications networks, data management, enterprise applications and analytics. Our solutions provide utilities with the flexibility they need to get the most value from existing infrastructure investments while leveraging advanced capabilities to plan for future requirements. Learn more at http://www.tantalus.com/.

About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX^® Best Market, OTCQB^® Venture Market and Pink^® Open Market.

Our OTC Link^® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets.

OTC Link ATS, OTC Link ECN and OTC Link NQB are each an SEC regulated ATS, operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member SIPC.

To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.

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Media Contact:
OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com

The MIL Network –

February 12, 2025
MIL-OSI: Bishop Fox appoints Christopher Martin as Chief Operating Officer

Source: GlobeNewswire (MIL-OSI)

PHOENIX, Feb. 11, 2025 (GLOBE NEWSWIRE) — Bishop Fox, the leading authority in offensive security, today announced the addition of Christopher Martin as the company’s new COO. Martin has extensive experience as an entrepreneur, scaling operations and driving growth from startups to multi-billion dollar organizations, while safeguarding culture and quality of services. Martin will be responsible for Bishop Fox Service Delivery, Finance, People, Product and R&D, reporting to Bishop Fox Co-Founder and CEO, Vinnie Liu.

Martin joins Bishop Fox at a time that has seen the company continue its steady growth and maintain its market leadership in continuous offensive security and penetration testing services. Notably, the company saw Annual Recurring Revenues grow by nearly 60 percent, and year-over-year partner bookings increase by more than 200 percent, beating targets by more than 70 percent. Bishop Fox also expanded its European presence, and added former @Stake and Neohapsis CEO, James Mobley to its Advisory Board.

Martin brings a wealth of experience in overseeing strong organic and inorganic growth for B2B SaaS and applied AI organizations. In particular he co-founded, grew and executed the successful acquisition of digital marketing services & consultancy firm MightyHive, and later served as public Executive Director of S4 Capital. He has held a number of executive positions including his time in the Controllership of Yahoo!’s $6 billion P&L, and later the Mergers and Acquisitions group, guiding acquisitions and operational integrations. Martin is an active investor and advisor in Applied AI and B2B SaaS startups. He holds a Bachelor of Science in Computer Engineering from Lehigh University, and MBA from The Wharton School.

“Bishop Fox is at the forefront of the evolving offensive security landscape,” commented Martin. “Our technology-driven approach —combining elite human expertise with automation, AI-driven threat emulation, and deep integrations—delivers adaptive, real-time defense at enterprise scale. As attack surfaces expand and adversaries evolve, our ability to provide continuous, intelligence-led security validation, positions us as a strategic partner in fortifying large enterprises against emerging threats. The opportunity to redefine security resilience and drive measurable impact for our clients has never been greater.”

“Bishop Fox has always had a focus on all around quality – quality of life, quality of work and quality of our business,” added Liu. “So, as we searched for our next COO, we needed to find someone that respected and excelled at all three. In meeting and talking with Chris, his passion for taking care of people, a focus on collaboration, and a forward-thinking mindset came through as strongly as his many career accomplishments. We’re very happy to have him on the team and look forward to continuing to build great things together.”

About Bishop Fox

Bishop Fox is the leading authority in offensive security, providing solutions ranging from continuous penetration testing, red teaming, and attack surface management to product, cloud, and application security assessments. We’ve worked with more than 25% of the Fortune 100, half of the Fortune 10, eight of the top 10 global technology companies, and all of the top global media companies to improve their security. Our Cosmos platform, service innovation, and culture of excellence continue to gather accolades from industry award programs including Fast Company, Inc., SC Media, and others, and our offerings are consistently ranked as “world class” in customer experience surveys. We’ve been actively contributing to and supporting the security community for almost two decades and have published more than 16 open-source tools and 50 security advisories in the last five years. Learn more at bishopfox.com or follow us on Twitter.

Media Contact:

Kevin Kosh, Senior Director of Communications

kkosh@bishopfox.com

The MIL Network –

February 12, 2025
MIL-OSI: CW Petroleum Corp (OTCQB: CWPE) Reports Revenues for Q4-2024, Year-End
Source: GlobeNewswire (MIL-OSI)

Katy, Texas, Feb. 11, 2025 (GLOBE NEWSWIRE) — CW Petroleum Corp (OTCQB: CWPE) (the “Company”), a leading provider of Specialty Renewable and Hydrocarbon Motor Fuels, today announces to its investors and future investors unaudited financial results for the fourth quarter ended December 31, 2024, Year-End 2024.

Key Financial Highlights for Three Months Ended December 31, 2024, Compared to Prior Year Period:
- 2024 Revenues of $1.73 Million vs 2023 Revenues of $1.98 Million
- 2024 EBITDA of $96,220 vs 2023 EBITDA of $51,567
- 2024 Net Income of $48,633 vs 2023 Net Income (loss) of ($9,749)
Key Financial Highlights for Twelve Months Ended December 31, 2024, Compared to Prior Year Period:
- 2024 Revenues of $8.00 Million vs 2023 Revenues of $9.31 Million
- 2024 EBITDA of $180,850 vs 2023 EBITDA of $732,733
- 2024 Net Income (loss) of ($44,322) vs 2023 Net Income of $449,293
Management Commentary:

Chief Executive Officer Christopher Williams commented, “The Company continues to produce substantial annual revenues between $8MM-$10MM, making it a top-tier company in the OTC Markets space. Despite posting ~$8MM in revenue for 2024, the Company only slightly missed its 2024 volume sales target compared to 2023. The result in the ~$1.0MM revenue drop is due to the lower average cost of renewable and petroleum-based fuels in 2024 compared to the increased average cost of renewable and petroleum-based fuels in 2023. The Company regained OTCQB status in May 2024 and continues to seek an uplisting to Nasdaq or NYSE with a $5MM-$15MM capital raise to execute its growth plan.

The Company’s 2024 Financial Audit has started and will report its SEC Form 1-K (2024 Annual Report) by 4/30/2025.

Additional accurate information about the Company can be found on the OTC Markets website at the following links and on the EDGAR filing website provided by the Securities and Exchange Commission:

CWPE Overview
CWPE Security Detail
CWPE Financials
CWPE News
CWPE Disclosures

SEC Filings

For additional information, visit our website at cwpetroleumcorp.com, email: investor@cwpetroleumcorp.com , or call 281-817-8099

About CW Petroleum Corp

CW Petroleum Corp, a Texas corporation, began operations in 2011. CW Petroleum Corp, a Wyoming corporation, was incorporated in April 2018 and has acquired the Texas corporation as a wholly-owned subsidiary. CW Petroleum Corp supplies and distributes Biodiesel, Biodiesel Blends, Renewable Gasoline, and a 92 Octane Reformulated No Ethanol Gasoline to distributors, convenience stores, marinas, and end-users. The EPA licenses the Company to create its proprietary gasoline blends. CW Petroleum Corp is licensed to distribute Diesel Fuel & Gasoline by the States of Texas, Louisiana, Oklahoma, California, Colorado, New Jersey, Maryland, Pennsylvania, and Arizona.

Forward-Looking Statements

Certain statements in this press release may contain “forward-looking statements” regarding future events and our future results. All statements other than statements of historical facts are statements that could be deemed to be forward-looking statements. These statements are based on current expectations, estimates, forecasts, and projections about the oil and gas markets, energy markets, and other markets in which we operate and the beliefs and assumptions of our management. Words such as “expects,” “anticipates,” “targets,” “goals,” “projects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “endeavors,” “strives,” “may,” or variations of such words and similar expressions are intended to identify such forward-looking statements. Readers are cautioned that these forward-looking statements are subject to a number of risks, uncertainties, and assumptions that are difficult to predict, estimate, or verify. Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements. Such risks and uncertainties include those factors described in the Company’s most recent annual report on Form 1-K, which may be amended or supplemented by subsequent semiannual reports on Form 1-SA or other reports filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements are made only as of the date hereof, and the Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements. For more information, please refer to the Company’s filings with the Securities and Exchange Commission.

No Offer or Solicitation

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

The MIL Network –
February 12, 2025
MIL-OSI: Thriving and Flourishing Throughout 2024, Plum Sets Sights on Continued Growth in 2025

Source: GlobeNewswire (MIL-OSI)

NEW YORK, Feb. 11, 2025 (GLOBE NEWSWIRE) — Reflecting on the company’s 18 percent growth over the past year, revolutionary talent assessment provider Plum expects to see the trend accelerate in the coming months. Citing the versatility of its offerings across the employee journey, including talent acquisition, internal mobility and leadership development, Plum secured several new clients, expanded existing relationships and forged significant partnerships throughout 2024.

Plum CEO Caitlin MacGregor commented, “For Plum, 2024 was marked by the launch of PlumFlourish and PlumThrive, which were driven by the need to address very specific workforce challenges around career development and talent insights. Because of this, Plum is able to ensure that employees and employers can navigate today’s dynamic business environment, and enterprise organizations are looking to us for that guidance.”

With the availability of PlumFlourish and PlumThrive alongside the company’s other enterprise solutions, Plum began working with Advocate Aurora Health, Scotia Caribbean and Temenos while expanding relationships with a Canadian multinational investment bank and financial services company, Arup, Bloomberg, CMP, Foundever and Hyundai Canada. Through Plum’s continued support for its customer base, the company helped to reimagine hiring processes, improve productivity, fill positions with internal talent, promote team development, maximize team efficiency and allow human potential to drive decision-making.

On the partnership front, Plum added FairNow, Fountain, HackerRank, North Star Talent and Paylocity to its marketplace and finalized integration experiences with iCIMS and Paylocity. Plum also expanded its partnership with SAP SuccessFactors.

MacGregor concluded, “By focusing on product and nurturing our relationships, Plum has built a strong foundation and maintained momentum, even through the headwinds observed last year. That’s what sets Plum apart and what makes Plum poised for success in 2025.”

About Plum

Revolutionary workforce solutions provider Plum knows that when people flourish, business thrives. Using objective data backed by scientific insights to measure and match human potential to job needs, Plum provides personalized career insights, improves quality of hire and helps create high-performing teams.

With unmatched scalability, the award-winning Plum platform enhances talent decisions across the employee lifecycle, making it possible to understand skills, quantify job fit and analyze organizational culture. Visit www.plum.io to learn more.

The MIL Network –

February 12, 2025
MIL-OSI: Anterix Announces Industry Engagement Initiative to Accelerate Private Wireless Broadband Opportunity and Engages Morgan Stanley to Initiate Strategic Review Process

Source: GlobeNewswire (MIL-OSI)

WOODLAND PARK, N.J., Feb. 11, 2025 (GLOBE NEWSWIRE) — Anterix (NASDAQ: ATEX) announced today that after receiving inbound interest in the Company, it has engaged Morgan Stanley & Co. LLC (“Morgan Stanley”) as its financial advisor to support a formal strategic review process for the Company to capitalize on the growing demand and urgency for private wireless broadband solutions for the utility industry.

Additionally, as the recognized market leader in the private wireless broadband space for utilities, Anterix has launched a new industry engagement initiative to address and shorten the time to realization of value for Anterix and its customers to allow them to more quickly deploy 900 MHz private wireless broadband networks. This initiative, which will include a significant review of pricing, payment and ownership terms as well as the potential for collaboration with strategic partners on additional products and services with Anterix’s 120+ member ecosystem, is already receiving significant interest from utilities.

“Anterix has more experience regarding how to enable private networks for utilities than anyone. With this new initiative, we are going to aggressively evolve our product offering to build on that success. With our seven customers across fifteen states, our 120+ member ecosystem, and our fantastic team, we are poised to continue to capture the growing utility wireless broadband marketplace,” said Scott Lang, President & CEO of Anterix.

Mr. Lang continued, “As the leading provider of private wireless broadband, zero debt, and a strong customer pipeline, it does not surprise us that we have had some inbound strategic interest to participate with us in our efforts. Accordingly, we have turned to the leaders in this field, Morgan Stanley. With them, we will review strategic opportunities to capitalize on the value that lies in front of us, with a focus on what is in the best interest of our shareholders, customers and employees. I am excited to work with Morgan Stanley on this strategic review and equally excited to see the extensive utility interest in the evolution of our product offering.”

As a reminder, Anterix previously announced that it will be hosting its third quarter fiscal 2025 earnings call tomorrow, Wednesday February 12, 2025, at 9:00 A.M. ET. More information can be found on the Investor Relations section of Anterix’s website at https://investors.anterix.com/events-presentations.

There is no deadline or definitive timetable for completion of the strategic review, and there can be no assurance regarding the results or the outcome of this review. Anterix does not intend to make any further announcements regarding the strategic review except in accordance with its ongoing disclosure obligations and pursuant to applicable laws and regulations.

Shareholder Contact

Natasha Vecchiarelli
Vice President, Investor Relations & Corporate Communications
Anterix
973-531-4397
nvecchiarelli@anterix.com

About Anterix

At Anterix, we partner with leading utilities and technology companies to harness the power of 900 MHz broadband for modernized grid solutions. Leading an ecosystem of more than 100 members, we offer utility-first solutions to modernize the grid and solve the challenges that utilities are facing today. As the largest holder of licensed spectrum in the 900 MHz band (896-901/935-940 MHz) throughout the contiguous United States, plus Alaska, Hawaii, and Puerto Rico, we are uniquely positioned to enable private wireless broadband solutions that support cutting-edge advanced communications capabilities for a cleaner, safer, and more secure energy future. To learn more and join the 900 MHz movement, please visit www.anterix.com.

Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking statements within the meaning of the federal securities laws that involve risks and uncertainties. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future events or achievements such as statements in this press release related to Anterix’s industry engagement initiatives or strategic review or business or financial results or outlook. Actual events or results may differ materially from those contemplated in this press release. Forward-looking statements speak only as of the date they are made and readers are cautioned not to put undue reliance on such statements, as they are subject to a number of risks and uncertainties that could cause Anterix’s actual future results to differ materially from results indicated in the forward-looking statement. Such statements are based on assumptions that could cause actual results to differ materially from those in the forward-looking statements, including: (i) the timing of payments under customer agreements; (ii) Anterix’s ability to clear the 900 MHz Broadband Spectrum on a timely basis and on commercially reasonable terms; (iii) Anterix’s ability to qualify for and timely secure broadband licenses; (iv) Anterix’s ability to execute on its industry engagement initiatives; (v) the timing and outcome of Anterix’s strategic review process; (vi) whether Anterix will be able to identify, develop or execute on any actions as a result of its strategic review process and (vii) competition in the market for spectrum and spectrum solutions offered by Anterix. Actual events or results may differ materially from those contemplated in this press release. Anterix’s filings with the Securities and Exchange Commission (“SEC”), which you may obtain for free at the SEC’s website at http://www.sec.gov, discuss some of the important risk factors that may affect the Company’s financial outlook, business, results of operations and financial condition. Anterix undertakes no obligation to update publicly or revise any forward-looking statements contained herein.

The MIL Network –

February 12, 2025
MIL-OSI: Beamr to Present at the A.G.P.’s Virtual Technology Conference

Source: GlobeNewswire (MIL-OSI)

Herzliya Israel, Feb. 11, 2025 (GLOBE NEWSWIRE) — Beamr Imaging Ltd. (NASDAQ: BMR), a leader in video optimization technology and solutions, today announced that it will present virtually at the Alliance Global Partners (A.G.P) Technology Conference. The conference, offering investors one-on-one meetings with Beamr executives, will be held virtually Tomorrow, February 12, 2025. For more information, please visit AGP website.

Beamr is a world leader in high-performance video processing, trusted by top media companies like Netflix and Paramount. With patented, award-winning technology, Beamr reduces video file sizes and live streams by up to 50%, while securing quality. Available on Amazon Web Services (AWS) and Oracle Cloud Infrastructure (OCI), Beamr Cloud delivers GPU-accelerated video processing to large video users, which includes efficient upgrades to advanced video formats, and scalable video enhancements with AI-powered capabilities.

For more details, please visit Beamr’s Investors website: https://www.investors.beamr.com/

About Beamr

Beamr (Nasdaq: BMR) is a world leader in content-adaptive video optimization and modernization. The company serves top media companies like Netflix and Paramount. Beamr’s inventive perceptual optimization technology (CABR) is backed by 53 patents and won the Emmy® award for Technology and Engineering. The innovative technology reduces video file size by up to 50% while guaranteeing quality.

Beamr Cloud is a high-performance, GPU-based video optimization and modernization service designed for businesses and video professionals across diverse industries. It is conveniently available to Amazon Web Services (AWS) and Oracle Cloud Infrastructure (OCI) customers. Beamr Cloud enables video modernization to advanced formats such as AV1 and HEVC, and is ready for video AI workflows. For more details, please visit www.beamr.com

Forward-Looking Statements

This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. Forward-looking statements in this communication may include, among other things, statements about Beamr’s strategic and business plans, technology, relationships, objectives and expectations for its business, the impact of trends on and interest in its business, intellectual property or product and its future results, operations and financial performance and condition. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on the Company’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. For a more detailed description of the risks and uncertainties affecting the Company, reference is made to the Company’s reports filed from time to time with the Securities and Exchange Commission (“SEC”), including, but not limited to, the risks detailed in the Company’s annual report filed with the SEC on March 4, 2024 and in subsequent filings with the SEC. Forward-looking statements contained in this announcement are made as of the date hereof and the Company undertakes no duty to update such information except as required under applicable law.

Investor Contact:

investorrelations@beamr.com

The MIL Network –

February 12, 2025
MIL-OSI: GigaCloud Technology Inc Strengthens Its B2B Marketplace with Leading Furniture Suppliers

Source: GlobeNewswire (MIL-OSI)

EL MONTE, Calif., Feb. 11, 2025 (GLOBE NEWSWIRE) — GigaCloud Technology Inc (Nasdaq: GCT) (“GigaCloud” or the “Company”), a pioneer of global end-to-end B2B ecommerce technology solutions for large parcel merchandise, today announced a strong lineup of new suppliers joining its GigaCloud Marketplace, further solidifying its position as a trusted global B2B wholesale platform.

New suppliers to the GigaCloud Marketplace include Purple Innovation Inc. (Nasdaq: PRPL), Homestyles, a brand of Flexsteel Industries Inc. (Nasdaq: FLXS), Corsicana Mattress Company, Restonic, Walker Edison, GhostBed, Simpli Home and others. These newly added suppliers have joined the GigaCloud Marketplace as new 3P sellers, encompassing a broad range of home furnishings, including living room furniture, bedroom bedding and furniture, dining room sets, and home office solutions. Many are known for their thoughtful design, quality craftsmanship, and versatility, appealing to a range of styles from contemporary to traditional.

“This latest wave of new suppliers highlights the value and trust our platform brings to the evolving B2B market, demonstrating GigaCloud’s commitment to accelerating growth and product diversity,” said Larry Wu, Founder, Chairman, and Chief Executive Officer of GigaCloud. “By welcoming these esteemed suppliers, we continue to enhance our market leadership in large-parcel B2B ecommerce—empowering suppliers with expanded market reach, providing resellers with a broader selection of trusted products, and facilitating seamless global wholesale trade for businesses of all sizes.”

“Partnering with GigaCloud has opened up exciting new avenues for Purple to extend our market presence,” said Mason Stephens, Vice President, Head of Wholesale at Purple Innovation Inc. “GigaCloud’s robust marketplace provides an efficient way to connect with a broader reseller base, enabling us to further drive our growth and bring Purple’s innovative comfort solutions to more businesses and their customers. We look forward to a promising future of growth and collaboration with GigaCloud.”

“We are excited to partner with GigaCloud to bring our Homestyles brand to an innovative digital marketplace,” said Andrew Surdyka, VP of Strategic Accounts at Flexsteel Industries Inc. “This collaboration represents an exciting opportunity for us to enhance our digital presence and reach new customers while maintaining the high standards of quality and service that Flexsteel Industries is known for.”

About GigaCloud Technology Inc

GigaCloud Technology Inc is a pioneer of global end-to-end B2B ecommerce technology solutions for large parcel merchandise. The Company’s B2B ecommerce platform, the “GigaCloud Marketplace,” integrates everything from discovery, payments and logistics tools into one easy-to-use platform. The Company’s global marketplace seamlessly connects manufacturers, primarily in Asia, with resellers, primarily in the U.S., Asia and Europe, to execute cross-border transactions with confidence, speed and efficiency. GigaCloud offers a comprehensive solution that transports products from the manufacturer’s warehouse to the end customer’s doorstep, all at one fixed price. The Company first launched its marketplace in January 2019 by focusing on the global furniture market and has since expanded into additional categories, including home appliances and fitness equipment. For more information, please visit the Company’s website: https://www.gigacloudtech.com.

Forward-Looking Statements

This press release contains “forward-looking statements.” Forward-looking statements reflect our current view about future events. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “could,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “propose,” “potential,” “continue” or similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.

For investor and media inquiries, please contact:

GigaCloud Technology Inc
Investor Relations
ir@gigacloudtech.com

PondelWilkinson, Inc.
Laurie Berman (Investors) – lberman@pondel.com
George Medici (Media) – gmedici@pondel.com

The MIL Network –

February 12, 2025

MIL-OSI: Declaration made pursuant to Article L. 233-8-II of the French Commercial Code and Article 223-16 of the General Regulation of the Autorité des Marchés Financiers

Source: GlobeNewswire (MIL-OSI)

Information
February 11, 2025

Declaration made pursuant to Article L. 233-8-II of the French Commercial Code and Article 223-16 of the General Regulation of the Autorité des Marchés Financiers

Information relating to the total number of shares and voting rights comprising the share capital as of January 31, 2025

Date	Total number of shares¹comprising the share capital	Theoretical number of voting rights²
01/31/2025	179,577,400	179,577,400

* *

SCOR, a leading global reinsurer

As a leading global reinsurer, SCOR offers its clients a diversified and innovative range of reinsurance and insurance solutions and services to control and manage risk. Applying “The Art & Science of Risk”, SCOR uses its industry-recognized expertise and cutting-edge financial solutions to serve its clients and contribute to the welfare and resilience of society.

The Group generated premiums of EUR 19.4 billion in 2023 and serves clients in around 160 countries from its 35 offices worldwide.

For more information, visit: www.scor.com

Media Relations
Alexandre Garcia
media@scor.com

Investor Relations
Thomas Fossard
InvestorRelations@scor.com

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All content published by the SCOR group since January 1, 2024, is certified with Wiztrust. You can check the authenticity of this content at wiztrust.com.

1 Each at a nominal value of EUR 7.8769723
2 The gross number of voting rights is calculated on the basis of all shares carrying voting rights, including shares whose voting rights have been suspended (Art. 223-11 of the General Regulation of the AMF)

Attachment

2025 02 11_SCOR_Information relating to the total number of shares and voting rights Wiztrust

The MIL Network –

February 12, 2025

MIL-OSI: MEXC Launches STORY (IP) Launchpool & Airdrop+, Offering 68,500 IP & 50,000 USDT in Bonuses
Source: GlobeNewswire (MIL-OSI)

VICTORIA, Seychelles, Feb. 11, 2025 (GLOBE NEWSWIRE) — MEXC, the world’s leading cryptocurrency trading platform, is excited to announce the launch of its Launchpool initiative in collaboration with the renowned blockchain project STORY (IP). This initiative highlights the close partnership between MEXC and STORY, showcasing their joint efforts to expand the STORY network. By introducing two major events—a Launchpool featuring a 60,000 IP reward pool and an Airdrop+ offering 8,500 IP plus 50,000 USDT—this collaboration further accelerates the growth of the STORY network while driving innovation in the blockchain space.

MEXC Supports the STORY Network with the Launch of IP Launchpool

In the digital age, traditional intellectual property (IP) management faces growing challenges. Centralized platforms and complicated intermediaries often lead to inefficiencies, high costs, and trust issues for creators. As a Layer 1 blockchain built with Cosmos SDK, STORY combines DeFi and AI technologies to offer automated, transparent, and cost-effective IP management solutions. With full EVM compatibility and a modular architecture, STORY empowers creators to tokenize their IP assets, automate royalties, and simplify licensing processes. MEXC’s support of the STORY network highlights the growing importance of such innovations in blockchain.

As a global leader in digital asset trading, MEXC consistently supports innovative blockchain projects. Its Launchpool initiative with STORY reaffirms this commitment. This collaboration not only strengthens the STORY ecosystem but also empowers global creators and developers to explore the potential of decentralized IP management. MEXC’s broad market coverage and strong liquidity offer the environment for blockchain projects like STORY to thrive and bring new possibilities to the digital economy. By allowing users to stake USDT, MX, and IP tokens to earn rewards, MEXC provides a platform for increased exposure and growth for STORY. Visit the STORY (IP) pre-market page to see this innovation in action.

Celebrate the IP Launchpool & Airdrop+ with a Prize Pool of 68,500 IP & 50,000 USDT

As a pioneer in the cryptocurrency industry, MEXC continues to foster innovation and support emerging blockchain ecosystems. MEXC is hosting two major STORY (IP) events: the Airdrop+ event, running from February 12, 2025, 10:00 (UTC) to February 26, 2025, 10:00 (UTC), featuring 8,500 IP plus 50,000 USDT in rewards, and the Launchpool, taking place from February 12, 2025, 10:00 (UTC) to February 15, 2025, 10:00 (UTC), with a 60,000 IP reward pool. These initiatives underscore MEXC’s ongoing commitment to advancing blockchain innovation and delivering valuable opportunities to the crypto community.

These activities include:
- Event 1: IP Launchpool – Stake USDT, MX & IP to Share 60,000 IP
- Event 2: Join Airdrop+ to Share 8,500 IP & 50,000 USDT bonus
- Perk 1: Deposit and Share 5,600 IP (New User Exclusive).
  Perk 2: Spot Challenge – Trade to Share 1,700 IP.
  Perk 3: Futures Challenge – Trade to Share 50,000 USDT in Futures Bonuses.
  Perk 4: Invite New Users and Share 1,200 IP.
MEXC continues to expand its market share in the centralized exchange space, leveraging its first-mover advantage in listing promising and valuable projects. As one of the leading cryptocurrency exchanges, with its commitment to innovation, user-centric approach, and strategic focus on early-stage token listings, MEXC remains at the forefront of the crypto industry, providing strong access to the rapidly growing blockchain ecosystem.

About MEXC

Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto”. Serving over 30 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, frequent airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.
MEXC Official Website｜ X ｜ Telegram ｜How to Sign Up on MEXC

Contact:
Lucia Hu
PR Manager
lucia.hu@mexc.com

Disclaimer: This content is provided by MEXC. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2a2e22b1-397a-4227-8c4b-fe594bb87d87

The MIL Network –
February 12, 2025
MIL-OSI: NNIT A/S: Publication of financial estimates gathered from equity analysts covering the NNIT share
Source: GlobeNewswire (MIL-OSI)

Today, NNIT has published financial estimates gathered from the four equity analysts covering the NNIT share ahead of the Q4/FY 2024 announcement scheduled for publication on February 18.

The analyst estimates is available on NNIT’s investor site through this link: https://www.nnit.com/investors-media/investors/share/analyst-coverage/

NNIT will host its webcast about the Q4/FY 2024 results on February 19 at 9:30 AM CET. Details can be found via this link: https://www.nnit.com/investors-media/investors/calendar/

For more information, please contact:

Investor Relations
Carsten Ringius
EVP & CFO
Tel: +45 3077 8888
carr@nnit.com

Media Relations
Sofie Mand Steffens
Senior Communications Consultant
Tel: +45 3077 8337
smst@nnit.com

ABOUT NNIT
NNIT is a leading provider of IT solutions to life sciences internationally, and to the public and private sectors in Denmark.

We focus on high complexity industries and thrive in environments where regulatory demands and complexity are high.

We advise on and build sustainable digital solutions that work for the patients, citizens, employees, end users or customers.

We strive to build unmatched excellence in the industries we serve, and we use our domain expertise to represent a business first approach – strongly supported by a selection of partner technologies, but always driven by business needs rather than technology.

NNIT consists of group company NNIT A/S and the subsidiary SCALES. Together, these companies employ more than 1,700 people in Europe, Asia and USA.

Attachment
- NNIT_Analyst estimates_11Feb25
The MIL Network –
February 12, 2025
MIL-OSI: Calfrac Well Services Ltd. 2024 Fourth Quarter Earnings Release, Conference Call and Webcast

Source: GlobeNewswire (MIL-OSI)

CALGARY, Alberta, Feb. 11, 2025 (GLOBE NEWSWIRE) — Calfrac Well Services Ltd. (“Calfrac”) (TSX:CFW) intends to release its 2024 fourth quarter results before the market opens on Thursday, March 13, 2025, and has scheduled a conference call to begin at 10:00 A.M. MT (12:00 P.M. ET) on the same day.

Financial Statements and Management’s Discussion and Analysis will be posted onto Calfrac’s website and on SEDAR+ after the press release has been disseminated.

A webcast of the conference call can be accessed through the link below:

https://onlinexperiences.com/Launch/QReg/ShowUUID=DE553537-723A-44F8-837E-F9A9689F3C2F&LangLocaleID=1033

A replay of the conference call will also be available on Calfrac’s website for at least 90 days.

To participate in the Q&A session, you may dial-in (toll free) 1-800-717-1738 (or at 1-646-307-1865 for international participants) fifteen (15) minutes prior to the start of the call and ask for the Calfrac Well Services Ltd. 2024 Third Quarter Earnings Release Conference Call to register.

About Calfrac:

Calfrac’s common shares are publicly traded on the Toronto Stock Exchange under the trading symbol “CFW”.

Calfrac provides specialized oilfield services to exploration and production companies designed to increase the production of hydrocarbons from wells with continuing operations focused throughout North America and Argentina. The Company executes on its brand promise of “Do It Safely, Do It Right, Do It Profitably” to generate long-term, sustainable returns for its shareholders.

Further information regarding Calfrac Well Services Ltd., including the most recently filed Annual Information Form, can be accessed on Calfrac’s website at www.calfrac.com or under the Company’s public filings found at www.sedarplus.ca.

For further information on this conference call, please contact:

Michael Olinek
Chief Financial Officer
(403) 234-6673

Suite 500, 407 – 8 Avenue S.W.
Calgary, Alberta, Canada T2P 1E5
Website: www.calfrac.com

The MIL Network –

February 12, 2025
MIL-OSI: Jitterbit’s Next AI Infusion: Build, Manage, Modify Business Applications with Natural Language Processing
Source: GlobeNewswire (MIL-OSI)

ALAMEDA, Calif., Feb. 11, 2025 (GLOBE NEWSWIRE) — Jitterbit, a global leader in accelerating business transformation for enterprise systems, today announced its latest AI-infused capabilities within the Harmony platform, advancing AI from low-code development to natural language processing (NLP). With NLP, technical barriers are removed and users can create, modify, and expose APIs, as well as build, monitor, and manage complex applications — all through natural language commands.

“AI acts as a bridge between IT and line-of-business users, fostering true collaboration across the enterprise,” said Jitterbit President and CEO Bill Conner. “By infusing AI natural language processing into the Harmony platform, we’re simplifying the building, integrating, connecting, and exposing of applications. What were once isolated applications now become interconnected enterprise systems, enabling seamless connections and integrations to enterprise-wide processes.”

“AI is no longer just a tool — it’s the catalyst for seamless, end-to-end automation that drives innovation at every level of business,” said Antonio Cisternino, CIO and Professor of Computer Science at the University of Pisa. “With Jitterbit’s new AI capabilities, organizations can now gain a holistic view of their data, powered by enterprise systems that are fully automated from end to end, driving smarter decisions and accelerating business outcomes in a controlled way.”

Building on its vision for advancing AI, Jitterbit’s integration of NLP technology into its unified, AI-infused low-code Harmony platform makes it even easier for users to automate applications and workflows by significantly reducing the development time and effort required to develop applications, manage APIs and integrate complex enterprise systems.

“By eliminating the need for traditional coding, NLP makes developing applications, building and managing APIs, and integrating complex workflows accessible to everyone, regardless of technical expertise,” said Jitterbit CTO Manoj Chaudhary. “This advancement is a critical milestone on the path toward agentic AI, where systems can intelligently adapt, learn, and execute autonomously.”

New Jitterbit AI Assistants Accelerate Application, API Management

Jitterbit’s new AI-infused capabilities redefine how users leverage the Harmony platform to generate code faster and accelerate innovation.

“Users can use simple natural language to create actionable code, enabling them to develop, manage, and integrate applications and systems seamlessly across the business — saving hundreds of hours in the process,” said Chaudhary.
- AI-Infused App Builder Assistant: An AI assistant designed to effortlessly create new applications and manage and modify existing ones using natural language. This feature is now in beta and available to Jitterbit customers. General availability is planned for Q2 2025.
- AI-Infused API Manager: Jitterbit API Manager empowers users to create APIs using an AI assistant to simplify API development and accelerate time to value. A beta program for this feature is now available with general availability planned for Jitterbit customers in Q2 2025.
- AskJB AI: An intelligent assistant providing real-time answers, guidance, and information is generally available within the Harmony platform and Jitterbit Documentation.
Jitterbit Introduces New Observability Tools, Cloud Datastore and Security Standards

Building on its AI-infused capabilities, Jitterbit introduced new observability and cloud storage features as well as new security certifications in the Harmony platform — designed to give organizations unmatched visibility, streamlined data management, and enhanced protection for their critical business processes.
- Agent Observability for Integration Performance Optimization: offers real-time visibility into the performance and behavior of private agents deployed on customer-managed servers, within firewalls, or in virtual private clouds. With pre-built dashboards for Datadog and Elasticsearch, customers can access over 50 key metrics to gain deeper operational insights addressing anomalies before they disrupt operations. A beta is now open to Jitterbit customers.
- Cloud Datastore for Streamlined Integration Data Management: Cloud Datastore is a cloud-based storage solution that allows users to store, manage, and retrieve data within their integration workflows. It acts as a central repository for data that various Jitterbit applications, APIs and integrations built on the Harmony platform can access. The Cloud Datastore is typically used to persist data for applications that require seamless data exchange or for integrations that need temporary or long-term storage of structured or unstructured data. Cloud Datastore also is GDPR-compliant for the European Union (EU). A beta is coming to Jitterbit customers in Q1 2025.
- Elevated Security Standards: Building on its layered security foundation, Jitterbit has attained new security certifications, including ISO 27017 and ISO 27018 compliance, along with NZISM certification for New Zealand and Australia. These certifications ensure that Jitterbit meets the highest global security standards.
Beta Access for Jitterbit Customers

Jitterbit customers who are interested in participating in the beta programs may contact product@jitterbit.com.

Jitterbit Harmony
Jitterbit Harmony is a unified AI-infused low-code platform for integration, orchestration, automation, and app development that accelerates business transformation. Consisting of iPaaS (Integration Platform as a Service), API Management, App Builder (low-code application development), EDI (Electronic Data Interchange), Harmony empowers IT teams and line-of-business groups to quickly become more productive, efficient, and responsive, leading to reduced organizational friction, improved efficiency, and better business outcomes.

About Jitterbit Inc.
For organizations ready to modernize and innovate, Jitterbit provides a unified AI-infused low-code platform for integration, orchestration, automation, and app development that accelerates business transformation, boosts productivity, and unlocks value. The Jitterbit Harmony platform, including iPaaS, API Manager, App Builder and EDI, future-proofs operations, simplifies complexity and drives innovation for organizations globally. Learn more at www.jitterbit.com and follow us on LinkedIn.

Media Contact:
Laura Hunter
Senior Director of Communications
Jitterbit
Laura.Hunter@jitterbit.com
310-344-6426

The MIL Network –
February 12, 2025
MIL-OSI: CapitalRock spreads its wings in the realm of cryptocurrency with the latest solutions and investment plans

Source: GlobeNewswire (MIL-OSI)

DUBAI, United Arab Emirates, Feb. 11, 2025 (GLOBE NEWSWIRE) — World-recognized Crypto Asset Management Leader now introduces CapitalRock coin and is ready to start its trading app.

CapitalRock is one of the leading crypto asset management companies that has come up with a huge plan to redefine the digital finance system through its advanced investment plans, strategic analysis approach, and attractive offers.

Composed of a competent team of more than 200 experts, CapitalRock is all set to take over the crypto world.

The prime focus of CapitalRock is to cater to the digital world with its unique crypto investment plans with keen market analysis. The efficient team is dedicated to working most professionally by keeping an eye on the latest trends and risk factors, thus making smart decisions for its Investors. The CapitalRock team involves seasoned analysts, traders, and Blockchain experts from the industry who bring their hands-on experience to make every effort to elevate the graph of CapitalRock coin.

CapitalRock coin aka CR is the nucleus of CapitalRock’s unique work plan in the world of cryptocurrency. CR has taken the top position in the contemporary exchange market. Its top ranking has increased the company’s reputation in the market in turn, providing the investors a trustworthy platform for carrying out trade activities. Thus, both CR and the company find its way to ace the digital market.

CapitalRock Coin (CR): A Game-Changer in Crypto

CapitalRock coin (CR) has been launched to set a foundation for the company’s beneficial monetary plans, to take it high in the brand ranking. After wise investment planning, along with smart strategic management, CR bears the potential to bring innovation to the digital market. CR paves a lucrative path for its users from trade aspects, thus providing them a strong and durable crypto ecosystem.

The launch of CR is completely aligned with the vision of CapitalRock which claims to provide its users not just with a financially supportive trade coin but also makes them a valuable part of the company’s mission.

CR, being labelled as the top-ranked coin in the exchange market, has caught the attention of investors worldwide for availing a better trading experience.

CapitalRock’s Trading Application: A Step Forward in User Experience

In the coming future, CapitalRock is also ready to launch its highly effective trading application. This up-to-date trading app will allow both retailers and investors to make use of advanced features to increase the functionality of the coin. With the use of this app, the users through their crypto profile, will enjoy a smooth trade experience with CR.

The application will be designed with an attractive yet easy-to-use interface, precise analysis, and authentic market data. The easy-to-use interface will allow both new traders and old crypto users to enjoy the service in its full bloom. It will enable the users to reach out to important market updates, trading trends, and analytics and will also allow them to maintain their trade portfolio and view the performance graph. These facilities will surely allow them to make wise decisions in terms of trading and investment in the digitally competitive finance market.

Technology is a reality and it stands at the heart of the crypto asset management and our trading app is the representative of this reality. Our motto is to take crypto investments through a more user-friendly approach and this will be possible via our trading application. The CEO of CapitalRock claimed to be eagerly in the queue to embrace its beneficial impact in the digital world.

CapitalRock’s Dedicated Team: The Driving Force Behind Success

The CapitalRock team of over 200 potential minds is one of the leading reasons behind its successful journey. The expert data analysts, competent risk managers, and Blockchain masters put their entire efforts to keep it high in the exchange ranking by continuously devising mindful strategies and keeping a track of the associated risks. Thus CapitalRock has met all the risks and stands high in ua performance.

The head of CapitalRock’s investment strategy department stated that the CapitalRock team is its backbone. He further mentioned that they take pride in their capabilities to cope with the trends, pinpoint risks timely, and avail the opportunities rightly by being flexible by market fluctuations. He also paid tribute to the team members’ full-time commitment and dedication to their duties and the company’s vision.

A Vision for the Future

With the continuous growth of the crypto market, CapitalRock stands firm with its motto to add value to the advanced digital world. The strategic plans of CapitalRock including continuous investment analysis, the launch of CR, and the most useful trading application are all its support systems that speak of its vision. The passionate team of CapitalRock is also striving to extend its global face, making new partnerships and fostering ties with organizational investors. It also has smart plans to work on Blockchain projects and make trading collaborations. The leadership of CapitalRock is giving it’s best in availing more growth opportunities to amplify its digital profile along with bringing more services and facilities for the investors.

In the coming future, CapitalRock is also quite eager to take part in educational programs, innovative projects, and decentralized finance (DeFi) applications in order to pay back to the Blockchain community in the best way.

Commitment to Transparency and Security

Transparency is practiced at its best at CapitalRock. As with the increasing number of users and an upsurge in digital assets, the company is subjected to more seamlessness in providing the data to its partners. Therefore, it ensures that the company’s investors feel rather more trusted while making decisions and being a part of this community.

CapitalRock makes use of top-notch security tools i-e multi-signature wallets, two-factor authentication, and peer-to-peer encryption to keep all the investments as well as users’ personal data fully safe and secure. With frequently mushrooming crypto assets, CapitalRock has felt the need to maintain its security protocols rather than more.

Conclusion

With all its uniqueness, CapitalRock is determined to maintain its pre-eminent position in the crypto world. With it’s crypto coin (CR) and the trendy trading application launched, the company is doing its best to come up to the mark with all competitors and contribute in revamping the digital finance market.

CapitalRock, with its seasoned team, smart leadership, and dedicated mindset, is laying the foundation to better standards for crypto investments, trade and exchanges. Investors can see a bright future ahead of their way in the contemporary crypto ecosystem where CapitalRock is leading their way.

For further information regarding CapitalRock coin (CR) and trading app, keep visiting the official website.

https://www.capitalrock.ch/
https://t.me/capitalrock1
https://twitter.com/CapitalRock_AG
Contact person: Jawwad Ahmed
Company name: CapitalRock
Website: capitalrock.ch
Email: admin@capitalrock.ch

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

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4c8175b0-1282-4ae3-8036-d6168fb13fbe

The MIL Network –

February 12, 2025
MIL-OSI: Jan De Witte joins GHO Capital as Operating Partner

Source: GlobeNewswire (MIL-OSI)

Jan De Witte joins GHO Capital as Operating Partner

Former CEO of Integra LifeSciences with significant strategic and operational experience to support GHO Capital’s portfolio

London, UK – 11 February 2025: Global Healthcare Opportunities, or GHO Capital Partners LLP (“GHO”), the European specialist investor in global healthcare, is pleased to announce the appointment of Jan De Witte as Operating Partner.

Jan is an accomplished senior executive with extensive experience leading international growth and transformation for global technology and life sciences companies. Prior to joining GHO, he was Chief Executive Officer and member of the Board of Directors at Integra LifeSciences (“Integra”, NASDAQ: IART), a global leader in regenerative tissue technologies, and neurosurgical and ENT solutions. At Integra Jan drove international expansion and operational excellence, and through strategic acquisitions and innovation added $1 billion to the total addressable market of the company’s offerings.

Prior to Integra, Jan served as CEO of Barco N.V. (EBR: BAR), directing the advanced visualisation technology company’s digital transformation and global market expansion. He strengthened Barco’s position in the healthcare, entertainment, and enterprise sectors through new product launches and operational improvements and global market expansions. Earlier in his career, he spent 18 years at GE Healthcare leading global teams in Digital Health, Services, Manufacturing, Quality and Supply Chain across the Americas, EMEA, and Asia. Jan’s career started with foundational roles in Operations at Procter & Gamble and as Senior Consultant at McKinsey in Europe.

Jan currently serves as a Director of ResMed Inc. (NYSE: RMD), a digital health and medical device leader. His board experience includes previous roles at Barco N.V. and international joint ventures. He holds an M.B.A. from Harvard Business School and Master’s and Bachelor’s degrees in electromechanical engineering with highest distinction from KU Leuven, Belgium.

As Operating Partner, Jan will leverage his extensive leadership experience and global network to support and grow GHO’s portfolio companies, as well as supporting with the firm’s transatlantic deal origination.

The Partners at GHO Capital commented: “Jan brings a wealth of healthcare industry expertise and a strong track record to our team as we look to implement our proven operational playbook and drive expansion and growth across our portfolio. The healthcare sector is experiencing significant innovation, supported by favourable market conditions, and Jan’s experience will help us identify businesses with the most substantial growth potential. On behalf of the entire GHO team, we warmly welcome him and look forward to the positive impact he will make.”

Commenting on his new appointment, Jan De Witte, Operating Partner at GHO Capital, said: “My focus throughout my career has always been to support innovative healthcare companies as they grow and transform, whilst creating long-term investor value. I am excited to be joining GHO Capital, one of Europe’s leading healthcare specialist private equity firms, who are committed to driving the highest standards across the healthcare sector. I look forward to working with the team and leveraging my expertise to support GHO’s portfolio companies realise their full potential.”

-Ends-

Further information:

GHO Capital Partners LLP

T +44 20 3700 7440

E IR@ghocapital.com

About GHO Capital

Global Healthcare Opportunities, or GHO Capital Partners LLP, is a leading specialist healthcare investment advisor based in London. GHO Capital applies global capabilities and perspectives to unlock high growth healthcare opportunities, targeting Pan-European and transatlantic internationalisation to build market leading businesses of strategic global value. GHO Capital’s proven investment track record reflects the unrivalled depth of our industry expertise and network. GHO Capital partners with strong management teams to generate long-term sustainable value, improving the efficiency of healthcare delivery to enable better, faster, more accessible healthcare. For further information, please visit www.ghocapital.com.

The MIL Network –

February 11, 2025
MIL-OSI: Bitget lists JAILSTOOL adding it to Spot Trading

Source: GlobeNewswire (MIL-OSI)

VICTORIA, Seychelles, Feb. 11, 2025 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange and Web3 company, has announced the listing of Stool Prisondente ($JAILSTOOL). The memecoin was adopted by Barstool Sports founder David Portnoy. Spot trading will begin on 10 February 2025, 14:00 (UTC), with withdrawals available on 11 February 2025, 10:00 (UTC).

Stool Prisondente is a community-driven memecoin designed for fun and lighthearted engagement within the crypto ecosystem, celebrating crossovers between internet culture and the unpredictable nature of meme assets. With a focus on community participation and viral momentum, Jailstool embodies the spirit of crypto’s inherent degen culture.

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

For more details on $JAILSTOOL, visit here.

About Bitget

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

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

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

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

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

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ea3c6294-13cb-4c4d-945a-df3941ae416c

The MIL Network –

February 11, 2025
MIL-OSI: Explore cryptocurrency wealth and get efficient returns every day through BitconeMine cloud mining

Source: GlobeNewswire (MIL-OSI)

LONDON, Feb. 11, 2025 (GLOBE NEWSWIRE) — BitconeMine, the leading AI-driven cloud mining platform, is making waves in the cryptocurrency industry by offering a limited-time $10 login mining bonus to new users. The initiative aims to lower the barrier to entry for crypto enthusiasts and provide a seamless, cost-effective way to start earning Bitcoin through cloud mining.

What is Bitcoin Cloud Mining?

BitconeMine allows users to participate in cryptocurrency mining without owning expensive hardware or dealing with a complex technical setup. By renting mining power from a data center, users can earn Bitcoin with minimal effort and investment.

Why BitconeMine?

BitconeMine stands out in the cloud mining industry with its innovative AI technology, ensuring optimized mining operations and consistent returns for investors. With a seven-year track record, BitconeMine continues to provide a secure and stable platform for passive income generation.

Key Benefits of BitconeMine:

$10 Login Bonus: New users can start mining immediately and earn a fixed $0.6 per day.
Transparency: Monitor contracts and earnings in real time via mobile or desktop.
Security: Investment protection backed by L&G Insurance.
Scalability: Flexible contracts to suit a variety of investment needs.
Zero maintenance costs: BitconeMine takes care of all hardware and operational maintenance.
24/7 customer support: 24/7 assistance for a seamless mining experience.

How to get started

Joining BitconeMine is simple. Register on the platform and instantly activate your $10 mining reward. With daily passive income, new users can explore cloud mining without an initial financial commitment.

1. First register as a BitconeMine user (visit the BitconeMine official website, click on register, and follow the steps to set up your account and password.)

2. Choose a suitable contract package
3. Pay the mining contract fee
4. Wait for daily earnings.

The bright future of cloud mining

BitconeMine is committed to innovation and user satisfaction, and continuously enhances its platform to provide industry-leading cloud mining solutions. With strong security measures, transparent operations, and AI-driven efficiency, BitconeMine is poised to redefine the future of cryptocurrency mining.
Start your crypto mining journey today. Visit https://bitconemine.com/ and claim your $10 sign-on bonus instantly!

Contact:
Lily Tanoria
info@bitconemine.com

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

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0bb1cd16-634a-413d-a8a5-081d7a58ff66

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7b59576d-f683-4cb1-b8d1-6825cb45375e

The MIL Network –

February 11, 2025
MIL-OSI: Recording of LHV Group’s 11 February investor webinar

Source: GlobeNewswire (MIL-OSI)

To give an overview of the 2024 Q4 and 12 month financial results, LHV Group organised an investor meeting webinar on 11 February. An overview of the company’s progress was given by Madis Toomsalu, Chairman of the Management Board of LHV Group and Meelis Paakspuu, CFO of LHV Group.

The live coverage was followed by 44 participants, the live feed of the presentation was broadcast over Zoom.

Recording of the investor meeting (in Estonian) is available at: https://www.youtube.com/watch?v=jmt0XVLumrU

LHV Group is the largest domestic financial group and capital provider in Estonia. LHV Group’s key subsidiaries are LHV Pank, LHV Varahaldus, LHV Kindlustus, and LHV Bank Limited. The Group employs over 1,200 people. As at the end of December, LHV’s banking services are being used by nearly 460,000 clients, the pension funds managed by LHV have 114,000 active clients, and LHV Kindlustus is protecting a total of 170,000 clients. LHV Bank Limited, a subsidiary of the Group, holds a banking licence in the United Kingdom and provides banking services to international financial technology companies, as well as loans to small and medium-sized enterprises.

Priit Rum
Communications Manager
Phone: +372 502 0786
Email: priit.rum@lhv.ee

The MIL Network –

February 11, 2025
MIL-OSI: AMD and the Commissariat à l’énergie atomique et aux énergies alternatives (CEA) to Collaborate on the Future of AI Compute

Source: GlobeNewswire (MIL-OSI)

SANTA CLARA, Calif., Feb. 11, 2025 (GLOBE NEWSWIRE) — AMD (NASDAQ: AMD) today announced the signing of a Letter of Intent (LOI) with the Commissariat à l’énergie atomique et aux énergies alternatives (CEA) of France to collaborate on the advanced technologies, component and system architectures that will shape the future of AI computing. The collaboration will leverage the strengths of both organizations to push the boundaries on energy-efficient systems needed to support the world’s most compute-intensive AI workloads in fields from energy to medicine.

Through this initiative, AMD and CEA will engage in a structured collaboration, focused on technological advancements on next generation AI compute infrastructure. AMD and CEA also are planning a symposium on the future of AI compute in 2025 that will convene European stakeholders and global technology providers, startups, supercomputing centers, universities and policy makers to accelerate collaboration around state-of-the-art and emerging AI computing technologies.

“AI computing continues to drive innovation across industries, and international collaboration is critical to pushing the boundaries of what’s possible,” said Ralph Wittig, Corporate Fellow and head of research, AMD. “Through this collaboration with CEA and leading French engineers, we aim to bring cutting-edge AI research closer to real-world applications by advancing system architectures that meet the demands of tomorrow’s AI workloads, while growing the joint research and development opportunities between the U.S. and France.”

“CEA is committed to driving innovation in AI computing by advancing next-generation technologies opening the road for disruptive architectures that balance performance and energy efficiency. Our collaboration with AMD represents a significant step toward fostering international cooperation in high-performance computing, bringing together world-class expertise to address the growing demands of AI workloads,” said Julie Galland, Director of the Technological Research division at CEA, “By combining CEA’s research leadership with AMD’s cutting-edge technology, we aim to develop breakthrough solutions that will shape the future of AI computing in Europe and beyond.”

This effort underscores the AMD commitment to fostering international collaborations that accelerate AI innovation, making AI more inclusive and sustainable, and strengthening cooperation, in particular, between the United States and European research institutions.

Supporting Resources

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.

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The MIL Network –

February 11, 2025

MIL-OSI: Equinor ASA: Share buy-back – first tranche for 2025

Source: GlobeNewswire (MIL-OSI)

Please see below information about transactions made under the first tranche of the 2025 share buy-back programme for Equinor ASA (OSE:EQNR, NYSE:EQNR, CEUX:EQNRO, TQEX:EQNRO).

Date on which the tranche was announced: 5 February 2025.

The duration of the tranche: 6 February to no later than 2 April 2025.

Further information on the tranche can be found in the stock market announcement on its commencement dated 5 February 2025, available here: https://newsweb.oslobors.no/message/637712

From 6 February to 7 February 2025, Equinor ASA has purchased a total of 1,200,000 own shares at an average price of NOK 266.0754 per share.

Overview of transactions:

Date	Trading venue	Aggregated daily volume (number of shares)	Weighted average share price (NOK)	Total transaction value (NOK)

6 February	OSE	600,000	269.0584	161,435,040.00
	CEUX
	TQEX

7 February	OSE	600,000	263.0924	157,855,440.00
	CEUX
	TQEX

Total for the period	OSE	1,200,000	266.0754	319,290,480.00
	CEUX
	TQEX

Previously disclosed buy-backs under the tranche	OSE
	CEUX
	TQEX
	Total

Total buy-backs under the tranche (accumulated)	OSE	1,200,000	266.0754	319,290,480.00
	CEUX
	TQEX
	Total	1,200,000	266.0754	319,290,480.00

Following the completion of the above transactions, Equinor ASA owns a total of 69,743,662 own shares, corresponding to 2.50% of Equinor ASA’s share capital, including shares under Equinor’s share savings programme (excluding shares under Equinor’s share savings programme, Equinor owns a total of 62,356,027 own shares, corresponding to 2.23% of the share capital).

This is information that Equinor ASA is obliged to make public pursuant to the EU Market Abuse Regulation and that is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.

Appendix: A overview of all transactions made under the buy-back tranche that have been carried out during the above-mentioned time period is attached to this report and available at www.newsweb.no.

Contact details:

Investor relations
Bård Glad Pedersen, senior vice president Investor Relations,
+47 918 01 791

Media
Sissel Rinde, vice president Media Relations,
+47 412 60 584

Attachment

Detailed overview of transactions

The MIL Network –

February 11, 2025

MIL-OSI: International Petroleum Corporation Announces 2024 Year-End Financial and Operational Results and 2025 Budget, Reserves and Guidance

Source: GlobeNewswire (MIL-OSI)

TORONTO, Feb. 11, 2025 (GLOBE NEWSWIRE) — International Petroleum Corporation (IPC or the Corporation) (TSX, Nasdaq Stockholm: IPCO) today released its financial and operating results and related management’s discussion and analysis (MD&A) for the three months and year ended December 31, 2024. IPC is also pleased to announce its 2025 budget, including that IPC continues to progress the development of the Blackrod Phase 1 project in Canada in line with schedule and budget. IPC previously announced the renewal of the normal course issuer bid (NCIB) under which IPC may acquire a further 5.3 million common shares up to December 2025, in addition to the 2.2 million common shares already purchased for cancellation under the NCIB in December 2024 and January 2025. IPC’s 2025 capital and decommissioning expenditure budget is USD 320 million and its 2025 average daily production guidance is between 43,000 and 45,000 barrels of oil equivalent (boe) per day (boepd). 2024 year-end proved plus probable (2P) reserves are 493 million boe (MMboe) and best estimate contingent resources (unrisked) are 1,107 MMboe.⁽¹⁾⁽²⁾

William Lundin, IPC’s President and Chief Executive Officer, comments: “We are very pleased to announce that IPC achieved strong operational results in 2024. Our average net production was 47,400 boepd for the full year, with very strong operational and ESG performance across all our areas of operation. 2024 was a very significant investment year for our Blackrod Phase 1 development project, and we have spent over two-thirds of the forecast capital expenditure by the end of 2024. We generated strong cash flows from our business, and we returned USD 102 million to shareholders through share buybacks in 2024. With gross cash resources of USD 247 million at 2024 year-end, we continue to be well positioned to deliver on our three strategic pillars of Organic Growth, Stakeholder Returns, and M&A that drive value creation for our stakeholders.⁽¹⁾⁽³⁾

On Organic Growth, we are very pleased with the progress of the development of Phase 1 of the Blackrod project, Canada, which remains in line with schedule and budget. Phase 1 of the Blackrod project continues to forecast first oil in late 2026, with peak production planned to increase to 30,000 bopd by 2028. In 2024, IPC achieved over 250% reserves replacement ratio, ending the year with 493 MMboe of 2P reserves, the highest in our history.⁽¹⁾⁽²⁾

On Stakeholder Returns, we completed the 2023/2024 NCIB program, purchasing and cancelling 8.3 million IPC common shares over the period of December 5, 2023 to December 4, 2024, representing approximately 6.5% of the common shares outstanding at the start of that program. We immediately recommenced purchasing under the renewed 2024/2025 NCIB, purchasing for cancellation 0.8 million common shares during December 2024 and over 1.4 million common shares during January 2024. We are permitted to purchase up to a further 5.3 million common shares by early December 2025, which will represent a 6.2% reduction in the number of shares common outstanding at the beginning of the 2024/2025 NCIB.

On M&A, we continue to review potential opportunities in Canada and internationally. IPC’s principal focus continues to be on progressing the Blackrod Phase 1 development as well as developing our existing asset base in Canada, France and Malaysia.

IPC is well-positioned for 2025 and beyond as our Blackrod Phase 1 project is progressing according to plan, our existing production operations continue to generate strong cash flows, and our balance sheet is strong. At the same time, we continue return value to our shareholders by repurchasing and cancelling our common shares under the NCIB. I look forward to another exciting year at IPC with our high quality assets and our highly skilled and motivated teams across all areas of operation.”

2024 Business Highlights

Average net production of approximately 47,400 boepd for the fourth quarter of 2024 was in line with the guidance range for the period (51% heavy crude oil, 15% light and medium crude oil and 34% natural gas).⁽¹⁾
Full year 2024 average net production was 47,400 boepd, above the mid-point of the 2024 annual guidance of 46,000 to 48,000 boepd.⁽¹⁾
Development activities on Phase 1 of the Blackrod project progressed in 2024 on schedule and on budget, with forecast first oil in late 2026. All major third-party contracts have been executed and construction is advancing according to plan, including construction of the central processing facility (CPF) and well pad facilities, finalization of the midstream agreements for the input fuel gas, diluent and oil blend pipelines, and advancement of drilling operations. As at the end of 2024, over two-thirds of the forecast Blackrod Phase 1 development capital expenditure of USD 850 million has been spent since project sanction in early 2023.
Drilling activity at the Southern Alberta assets in Canada continued with a total of thirteen wells drilled during 2024.
Successful completion of planned maintenance shutdowns at Onion Lake Thermal (OLT) in Canada and the Bertam field in Malaysia during 2024.
8.3 million common shares purchased and cancelled from December 2023 to early December 2024 under IPC’s 2023/2024 NCIB and a further 2.2 million common shares purchased for cancellation during December 2024 and January 2025 under the renewed 2024/2025 NCIB.
In Q3 2024, published IPC’s fifth annual Sustainability Report.

2024 Financial Highlights

Operating costs per boe of USD 18.2 for the fourth quarter of 2024 and USD 17.0 for the full year, in line with the most recent 2024 guidance of less than USD 18.0 per boe for the full year.⁽³⁾
Strong operating cash flow (OCF) generation for the fourth quarter and full year 2024 amounted to MUSD 78 and MUSD 342, respectively.⁽³⁾
Capital and decommissioning expenditures of MUSD 129 for the fourth quarter and MUSD 442 for the full year 2024, in line with the full year guidance of MUSD 437.
Free cash flow (FCF) generation for the full year 2024 of negative MUSD 135, with negative FCF generation of MUSD 61 for the fourth quarter in line with expectations and taking into account the significant capital expenditures during the quarter in respect of the Blackrod project. FCF for the full year 2024, before 2024 Blackrod Phase 1 development expenditure of MUSD 351, was MUSD 216.⁽³⁾
Net debt of MUSD 209 and gross cash of MUSD 247 as at December 31, 2024.⁽³⁾
Net result of MUSD 0.4 for the fourth quarter of 2024 and MUSD 102 for the full year 2024.
Entered into a letter of credit facility in Canada during 2024 to cover operational letters of credit, giving full availability under IPC’s undrawn CAD 180 million Revolving Credit Facility.

Reserves and Resources

Total 2P reserves as at December 31, 2024 of 493 MMboe, with a reserve life index (RLI) of 31 years.⁽¹⁾⁽²⁾
Contingent resources (best estimate, unrisked) as at December 31, 2024 of 1,107 MMboe.⁽¹⁾⁽²⁾
2P reserves net asset value (NAV) as at December 31, 2024 of MUSD 3,083 (10% discount rate).^(1)(2)(⁵⁾⁽⁶⁾

2025 Annual Guidance

Full year 2025 average net production forecast at 43,000 to 45,000 boepd.⁽¹⁾
Full year 2025 operating costs forecast at USD 18 to 19 per boe.⁽³⁾
Full year 2025 OCF guidance estimated at between MUSD 210 and 280 (assuming Brent USD 65 to 85 per barrel).⁽³⁾
Full year 2025 capital and decommissioning expenditures guidance forecast at MUSD 320, including MUSD 230 relating to Blackrod capital expenditure.
Full year 2025 FCF ranges from approximately MUSD 80 to 150 (assuming Brent USD 65 to 85 per barrel) before taking into account proposed Blackrod capital expenditures, or negative MUSD 150 to 80 including proposed Blackrod capital expenditures.⁽³⁾

Business Plan Production and Cash Flow Guidance

2025 – 2029 business plan forecasts:
- average net production forecast approximately 57,000 boepd.⁽¹⁾⁽⁸⁾
- capital expenditure forecast of USD 8 per boe, including USD 3 per boe for growth expenditure.⁽⁸⁾
- operating costs forecast of USD 18 to 19 per boe.⁽³⁾⁽⁸⁾
- FCF forecast of approximately MUSD 1,200 to 2,000 (assuming Brent USD 75 to 95 per barrel).⁽³⁾⁽⁸⁾
2030 – 2034 business plan forecasts:
- average net production forecast of approximately 63,000 boepd.⁽¹⁾⁽⁸⁾
- capital expenditure forecast of USD 5 per boe.⁽⁸⁾
- operating costs forecast of USD 18 to 19 per boe.⁽³⁾⁽⁸⁾
- FCF forecast of approximately MUSD 1,600 to 2,600 (assuming Brent USD 75 to 95 per barrel).⁽³⁾⁽⁸⁾

	Three months ended December 31				Year ended December 31
USD Thousands	2024		2023		2024		2023
Revenue	199,124		198,460		797,783		853,906
Gross profit	42,774		39,955		210,171		250,514
Net result	415		29,710		102,219		172,979
Operating cash flow ⁽³⁾	78,158		73,634		341,989		353,048
Free cash flow ⁽³⁾	(61,476	)	(64,688	)	(135,497	)	2,689
EBITDA ⁽³⁾	76,184		66,284		335,488		350,618
Net Cash / (Debt) ⁽³⁾	(208,528	)	58,043		(208,528	)	58,043

IPC was launched in 2017 by way of spinning off the non-Norwegian assets from Lundin Energy. The strategy and vision from the outset was to be the international E&P growth vehicle for the Lundin Group by pursuing growth organically and through acquisitions. The foundation of this strategy was and is predicated on maximising long-term stakeholder value through responsible business operations focused on operational excellence and financial resilience to underpin optimal capital allocation decision-making.

We are very pleased with the track record of value creation achieved by the company to date. IPC’s production, reserves, resources and cash flow exposure has increased materially through accretive acquisitions supplemented by base business investment. Excluding the growth capital expenditure assigned to the Blackrod Phase 1 development, over USD 1.5 billion in free cash flow (FCF) has been generated and over USD 0.5 billion has been returned to shareholders in the form of share buybacks since inception. IPC’s current shares outstanding are less than 5% higher than the original shares outstanding upon the formation of the company. IPC is determined to build on the historical success and the growth outlook has never been brighter.⁽³⁾

2024 was a milestone year for the company through successfully delivering the largest capital investment campaign in its history. The record investment was accompanied by strong safety, operational and financial performance. IPC returned USD 102 million of value to shareholders in the year through share repurchases, whilst maintaining a strong balance sheet.

Oil prices were rangebound in 2024 between Brent USD 70 to 90 per barrel, with a full year Brent average of USD 81 per barrel, in line with our original oil price sensitivities guided at CMD. The fourth quarter 2024 Brent price averaged USD 75 per barrel, the lowest quarterly price average in the year. The downward trend in benchmark oil prices through the second half of 2024 has been slightly reversed in current time as continuous crude inventory draws, strong demand, underwhelming non-OPEC production growth and continued OPEC production curtailments have supported the market balance. A new administration in the White House presents uncertainty for the oil market, as looming tariffs and sanctions pose a risk to global supply chain systems and trade flows. Around 40% of our 2025 Dated Brent and WTI exposure is hedged at USD 76 per barrel and USD 71 per barrel respectively.

The fourth quarter 2024 WTI to WCS price differentials averaged less than USD 13 per barrel, around USD 2 per barrel lower than the full year average of USD 15 per barrel. The fourth quarter differential was the lowest quarterly average since the Covid pandemic in 2020 when benchmark oil prices were more than USD 30 per barrel less than current levels. The TMX pipeline is driving the tighter differentials with excess take-away capacity in the Western Canadian Sedimentary Basin (WCSB) relative to supply. Close to 50% of our 2025 WCS to WTI differential exposure is hedged at USD 14 per barrel, which should assist in mitigating adverse effects of potential US tariffs on Canadian production.

Natural gas prices averaged CAD 1.5 per Mcf for 2024 and in the fourth quarter. Western Canada gas storage levels continue to sit above the five-year range. This is in part due to delays of the LNG Canada start-up project which was supposed to be onstream at end 2024, start-up is now anticipated for mid-2025. IPC has around 9,600 Mcf per day hedged at CAD 2.6 per Mcf for 2025.

Fourth Quarter and Full Year 2024 Highlights

During the fourth quarter of 2024, IPC’s assets delivered average net production of 47,400 boepd, in line with guidance for the quarter. Full year 2024 average net production of 47,400 boepd was above the 2024 mid-point guidance range of 46,000 to 48,000 boepd.⁽¹⁾

IPC’s operating costs per boe for the fourth quarter of 2024 was USD 18.2. Full year 2024 operating costs per boe was USD 17.0, in line with the most recent 2024 annual guidance of less than USD 18 per boe.⁽³⁾

Operating cash flow (OCF) generation for the fourth quarter of 2024 was USD 78 million. Full year 2024 OCF was USD 342 million in line with the most recent guidance of USD 335 to 342 million.⁽³⁾

Capital and decommissioning expenditure for the fourth quarter of 2024 was USD 129 million. Full year 2024 capital and decommissioning expenditure of USD 442 million was in line with guidance of USD 437 million.

Free cash flow (FCF) generation was in line with guidance at negative USD 61 million during the fourth quarter of 2024, reflecting the higher level of capital expenditure on the Blackrod Phase 1 development project. Full year 2024 FCF generation was negative USD 135 million, in line with the most recent guidance of negative USD 140 to 133 million.⁽³⁾

As at December 31, 2024, IPC’s net debt position was USD 209 million. IPC’s gross cash on the balance sheet amounts to USD 247 million which provides IPC with significant financial strength to continue progressing its strategies in 2025, including advancing the Blackrod development project, returning value to shareholders through the 2024/2025 NCIB, and remaining opportunistic to mergers and acquisitions activity.⁽³⁾

Blackrod Project

The Blackrod asset is 100% owned by IPC and hosts the largest booked reserves and contingent resources within the IPC portfolio. After more than a decade of pilot operations, subsurface delineation and commercial engineering studies, IPC sanctioned the Phase 1 Steam Assisted Gravity Drainage (SAGD) development in the first quarter of 2023. The Phase 1 development targets 259 MMboe of 2P reserves, with a multi-year forecast capital expenditure of USD 850 million to first oil planned in late 2026. The Phase 1 development is planned for plateau production of 30,000 bopd which is expected by early 2028.⁽¹⁾⁽²⁾

As at the end of 2024, USD 591 million of cumulative growth capital, has been spent on the Blackrod Phase 1 development since sanction with a peak annual investment of USD 351 million incurred in 2024. Significant progress has been made across all key scopes of the project including but not limited to: detailed engineering, procurement, fabrication, drilling, construction, third party transport pipelines, commissioning and operations planning. Site health and safety control has been excellent with zero lost time incidents since commercial development activities commenced.

Looking forward, USD 230 million is planned to be spent in 2025 mainly relating to advancing the remaining fabrication, construction and substantial completion of the Central Processing Facility (CPF) for the Phase 1 development. The remaining growth capital expenditure to first oil is forecast to be spent in 2026 on drilling, completions and commissioning of the CPF with first steam anticipated by end Q1 2026.

IPC is strongly positioned to deliver within plan with a clear line of sight to start-up. The Blackrod Phase 1 project is expected to generate significant value for all our stakeholders. And with over 1 billion barrels of best estimate contingent resources (unrisked) beyond Phase 1, IPC is pleased to announce a resource maturation plan that sees significant volume maturation into reserves through low cost of less than USD 0.15 per barrel. The 2P reserves attributable to Phase 1 has increased by 40 MMboe to 259 MMboe from year end 2023 to year end 2024.⁽²⁾

As at the end of 2024, 70% of the Blackrod Phase 1 development capital had been spent since the project sanction in early 2023. All major work streams are progressing as planned and the focus continues to be on executing the detailed sequencing of events as facility modules are safely delivered and installed at site. The total Phase 1 project guidance of USD 850 million capital expenditure to first oil in late 2026 is unchanged. IPC intends to fund the remaining Blackrod Phase 1 development costs with forecast cash flow generated by its operations and cash on hand.

Stakeholder Returns: Normal Course Issuer Bid

During the period of December 5, 2023 to December 4, 2024, IPC purchased and cancelled an aggregate of approximately 8.3 million common shares under the 2023/2024 NCIB. The average price of shares purchased under the 2023/2024 NCIB was SEK 131 / CAD 17 per share.

In Q4 2024, IPC announced the renewal of the NCIB, with the ability to repurchase up to approximately 7.5 million common shares over the period of December 5, 2024 to December 4, 2025. Under the 2024/2025 NCIB, IPC repurchased and cancelled approximately 0.8 million common shares in December 2024. By the end of January 2025, IPC repurchased for cancellation over 1.4 million common shares under the 2024/2025 NCIB. The average price of common shares purchased under the 2024/2025 NCIB during December 2024 and January 2025 was SEK 135 / CAD 17.5 per share.

As at February 7, 2025, IPC had a total of 117,781,927 common shares issued and outstanding, of which IPC holds 508,853 common shares in treasury.

Under the 2024/2025 NCIB, IPC may purchase and cancel a further 5.3 million common shares by December 4, 2025. This would result in the cancellation of 6.2% of shares outstanding as at the beginning of December 2024. IPC continues to believe that reducing the number of shares outstanding while in parallel investing in material production growth at Blackrod will prove to be a winning formula for our stakeholders.

Environmental, Social and Governance (ESG) Performance

As part of IPC’s commitment to operational excellence and responsible development, IPC’s objective is to reduce risk and eliminate hazards to prevent occurrence of accidents, ill health, and environmental damage, as these are essential to the success of our business operations. During the fourth quarter and for the full year 2024, IPC recorded no material safety or environmental incidents.

As previously announced, IPC targets a reduction of our net GHG emissions intensity by the end of 2025 to 50% of IPC’s 2019 baseline and IPC remains on track to achieve this reduction. During 2024, IPC announced the commitment to remain at end 2025 levels of 20 kg CO2/boe through to the end of 2028.⁽⁴⁾

Reserves, Resources and Value

As at the end of December 2024, IPC’s 2P reserves are 493 MMboe. During 2024, IPC replaced 251% of the annual 2024 production. The reserves life index (RLI) as at December 31, 2024, is approximately 31 years.⁽¹⁾⁽²⁾

The net present value (NPV) of IPC’s 2P reserves as at December 31, 2024 was USD 3.3 billion. IPC’s net asset value (NAV) was USD 3.1 billion or SEK 287 / CAD 37 per share as at December 31, 2024.⁽¹⁾⁽²⁾⁽⁵⁾⁽⁶⁾⁽⁷⁾

In addition, IPC’s best estimate contingent resources (unrisked) as at December 31, 2024 are 1,107 MMboe, of which 1,025 MMboe relate to future potential phases of the Blackrod project.⁽¹⁾⁽²⁾

2025 Budget and Operational Guidance

IPC is pleased to announce its 2025 average net production guidance is 43,000 to 45,000 boepd. IPC forecasts operating costs for 2025 between USD 18 and 19 per boe.⁽¹⁾⁽³⁾

IPC’s 2025 capital and decommissioning expenditure budget is USD 320 million, with USD 230 million forecast relating to Blackrod capital expenditure. The remainder of the 2025 budget in Canada includes drilling and ongoing optimization work at Onion Lake Thermal and Suffield Area assets. IPC also plans to advance the next phase of infill drilling and complete well maintenance works at the Bertam field in Malaysia. IPC expects to conduct technical studies for future development potential in France. In all of IPC’s areas of operation, IPC has significant flexibility to control its pace of spend based on the development of commodity prices during 2025.

Notwithstanding a modest production decline expected in 2025, IPC’s production per share metric remains largely unchanged relative to 2024 and 2023. IPC has prioritised capital allocation to the transformational Blackrod Phase 1 development and share buybacks as opposed to further increasing its base business investment to preserve balance sheet strength and maximise long- term shareholder value.

Further details regarding IPC’s proposed 2025 budget and operational guidance will be provided at IPC’s Capital Markets Day presentation to be held on February 11, 2025 at 15:00 CET. A copy of the Capital Markets Day presentation will be available on IPC’s website at www.international-petroleum.com.

Notes:

(1) See “Supplemental Information regarding Product Types” in “Reserves and Resources Advisory” below. See also the material change report (MCR) available on IPC’s website at www.international-petroleum.com and filed on the date of this press release under IPC’s profile on SEDAR+ at www.sedarplus.ca.
(2) See “Reserves and Resources Advisory“ below. Further information with respect to IPC’s reserves, contingent resources and estimates of future net revenue, including assumptions relating to the calculation of NPV, are described in the MCR. The reserve life index (RLI) is calculated by dividing the 2P reserves of 493 MMboe as at December 31, 2024 by the mid-point of the 2025 CMD production guidance of 43,000 to 45,000 boepd. Reserves replacement ratio is based on 2P reserves of 468 boe as at December 31, 2024, sales production during 2024 of 16.6 MMboe, net additions to 2P reserves during 2024 of 41.7 MMboe, and 2P reserves of 493 MMboe as at December 31, 2024.
(3) Non-IFRS measure, see “Non-IFRS Measures” below and in the MD&A.
(4) Emissions intensity is the ratio between oil and gas production and the associated carbon emissions, and net emissions intensity reflects gross emissions less operational emission reductions and carbon offsets.
(5) Net present value (NPV) is after tax, discounted at 10% and based upon the forecast prices and other assumptions further described in the MCR. See “Reserves and Resources Advisory” below.
(6) Net asset value (NAV) is calculated as NPV less net debt of USD 209 million as at December 31, 2024.
(7) NAV per share is based on 119,059,315 IPC common shares as at December 31, 2024, being 119,169,471 common shares outstanding less 110,156 common shares held in treasury and cancelled in January 2025. NAV per share is not predictive and may not be reflective of current or future market prices for IPC common shares.
(8) Estimated FCF generation is based on IPC’s current business plans over the periods of 2025 to 2029 and 2030 to 2034, including net debt of USD 209 million as at December 31, 2024, with assumptions based on the reports of IPC’s independent reserves evaluators, and including certain corporate adjustments relating to estimated general and administration costs and hedging, and excluding shareholder distributions and financing costs. Assumptions include average net production of approximately 57 Mboepd over the period of 2025 to 2029, average net production of approximately 63 Mboepd over the period of 2030 to 2034, average Brent oil prices of USD 75 to 95 per bbl escalating by 2% per year, and average Brent to Western Canadian Select differentials and average gas prices as estimated by IPC’s independent reserves evaluator and as further described in the MCR. IPC’s market capitalization is at close on January 31, 2025 (USD 1,557 million based on 146.8 SEK/share, 117.7 million IPC shares outstanding (net of treasury shares) and exchange rate of 11.10 SEK/USD). IPC’s current business plans and assumptions, and the business environment, are subject to change. Actual results may differ materially from forward-looking estimates and forecasts. See “Forward-Looking Statements” and “Non-IFRS Measures” below.

International Petroleum Corp. (IPC) is an international oil and gas exploration and production company with a high quality portfolio of assets located in Canada, Malaysia and France, providing a solid foundation for organic and inorganic growth. IPC is a member of the Lundin Group of Companies. IPC is incorporated in Canada and IPC’s shares are listed on the Toronto Stock Exchange (TSX) and the Nasdaq Stockholm exchange under the symbol “IPCO”.

For further information, please contact:

Rebecca Gordon SVP Corporate Planning and Investor Relations rebecca.gordon@international-petroleum.com Tel: +41 22 595 10 50		Or		Robert Eriksson Media Manager reriksson@rive6.ch Tel: +46 701 11 26 15

This information is information that International Petroleum Corporation is required to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the contact persons set out above, at 07:30 CET on February 11, 2025. The Corporation’s audited condensed consolidated financial statements (Financial Statements) and management’s discussion and analysis (MD&A) for the three months and year ended December 31, 2024 have been filed on SEDAR+ (www.sedarplus.ca) and are also available on the Corporation’s website (www.international-petroleum.com).

Forward-Looking Statements
This press release contains statements and information which constitute “forward-looking statements” or “forward-looking information” (within the meaning of applicable securities legislation). Such statements and information (together, “forward-looking statements”) relate to future events, including the Corporation’s future performance, business prospects or opportunities. Actual results may differ materially from those expressed or implied by forward-looking statements. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. Forward-looking statements speak only as of the date of this press release, unless otherwise indicated. IPC does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws.

All statements other than statements of historical fact may be forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, forecasts, guidance, budgets, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “forecast”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe”, “budget” and similar expressions) are not statements of historical fact and may be “forward-looking statements”.

Forward-looking statements include, but are not limited to, statements with respect to:

2025 production ranges (including total daily average production), production composition, cash flows, operating costs and capital and decommissioning expenditure estimates;
Estimates of future production, cash flows, operating costs and capital expenditures that are based on IPC’s current business plans and assumptions regarding the business environment, which are subject to change;
IPC’s financial and operational flexibility to navigate the Corporation through periods of volatile commodity prices;
The ability to fully fund future expenditures from cash flows and current borrowing capacity;
IPC’s intention and ability to continue to implement its strategies to build long-term shareholder value;
The ability of IPC’s portfolio of assets to provide a solid foundation for organic and inorganic growth;
The continued facility uptime and reservoir performance in IPC’s areas of operation;
Development of the Blackrod project in Canada, including estimates of resource volumes, future production, timing, regulatory approvals, third party commercial arrangements, breakeven oil prices and net present values;
Current and future production performance, operations and development potential of the Onion Lake Thermal, Suffield, Brooks, Ferguson and Mooney operations, including the timing and success of future oil and gas drilling and optimization programs;
The potential improvement in the Canadian oil egress situation and IPC’s ability to benefit from any such improvements;
The ability of IPC to achieve and maintain current and forecast production in France and Malaysia;
The intention and ability of IPC to acquire further common shares under the NCIB, including the timing of any such purchases;
The return of value to IPC’s shareholders as a result of the NCIB;
IPC’s ability to implement its GHG emissions intensity and climate strategies and to achieve its net GHG emissions intensity reduction targets;
IPC’s ability to implement projects to reduce net emissions intensity, including potential carbon capture and storage;
Estimates of reserves and contingent resources;
The ability to generate free cash flows and use that cash to repay debt;
IPC’s continued access to its existing credit facilities, including current financial headroom, on terms acceptable to the Corporation;
IPC’s ability to identify and complete future acquisitions;
Expectations regarding the oil and gas industry in Canada, Malaysia and France, including assumptions regarding future royalty rates, regulatory approvals, legislative changes, and ongoing projects and their expected completion; and
Future drilling and other exploration and development activities.

Statements relating to “reserves” and “contingent resources” are also deemed to be forward-looking statements, as they involve the implied assessment, based on certain estimates and assumptions, that the reserves and resources described exist in the quantities predicted or estimated and that the reserves and resources can be profitably produced in the future. Ultimate recovery of reserves or resources is based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management.

Although IPC believes that the expectations and assumptions on which such forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because IPC can give no assurances that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks.

These include, but are not limited to general global economic, market and business conditions, the risks associated with the oil and gas industry in general such as operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of estimates and projections relating to reserves, resources, production, revenues, costs and expenses; health, safety and environmental risks; commodity price fluctuations; interest rate and exchange rate fluctuations; marketing and transportation; loss of markets; environmental and climate-related risks; competition; incorrect assessment of the value of acquisitions; failure to complete or realize the anticipated benefits of acquisitions or dispositions; the ability to access sufficient capital from internal and external sources; failure to obtain required regulatory and other approvals; and changes in legislation, including but not limited to tax laws, royalties, environmental and abandonment regulations.

Additional information on these and other factors that could affect IPC, or its operations or financial results, are included in the MD&A (See “Risk Factors”, “Cautionary Statement Regarding Forward-Looking Information” and “Reserves and Resources Advisory” therein), the Corporation’s material change report dated February 11, 2025 (MCR), the Corporation’s Annual Information Form (AIF) for the year ended December 31, 2023, (See “Cautionary Statement Regarding Forward-Looking Information”, “Reserves and Resources Advisory” and “Risk Factors”) and other reports on file with applicable securities regulatory authorities, including previous financial reports, management’s discussion and analysis and material change reports, which may be accessed through the SEDAR+ website (www.sedarplus.ca) or IPC’s website (www.international-petroleum.com).

Management of IPC approved the production, operating costs, operating cash flow, capital and decommissioning expenditures and free cash flow guidance and estimates contained herein as of the date of this press release. The purpose of these guidance and estimates is to assist readers in understanding IPC’s expected and targeted financial results, and this information may not be appropriate for other purposes.

Estimated FCF generation is based on IPC’s current business plans over the periods of 2025 to 2029 and 2030 to 2034, including net debt of USD 209 million as at December 31, 2024, with assumptions based on the reports of IPC’s independent reserves evaluators, and including certain corporate adjustments relating to estimated general and administration costs and hedging, and excluding shareholder distributions and financing costs. Assumptions include average net production of approximately 57 Mboepd over the period of 2025 to 2029, average net production of approximately 63 Mboepd over the period of 2030 to 2034, average Brent oil prices of USD 75 to 95 per bbl escalating by 2% per year, and average Brent to Western Canadian Select differentials and average gas prices as estimated by IPC’s independent reserves evaluator and as further described in the MCR. IPC’s current business plans and assumptions, and the business environment, are subject to change. Actual results may differ materially from forward-looking estimates and forecasts.

Non-IFRS Measures
References are made in this press release to “operating cash flow” (OCF), “free cash flow” (FCF), “Earnings Before Interest, Tax, Depreciation and Amortization” (EBITDA), “operating costs” and “net debt”/”net cash”, which are not generally accepted accounting measures under International Financial Reporting Standards (IFRS) and do not have any standardized meaning prescribed by IFRS and, therefore, may not be comparable with similar measures presented by other public companies. Non-IFRS measures should not be considered in isolation or as a substitute for measures prepared in accordance with IFRS.

The definition of each non-IFRS measure is presented in IPC’s MD&A (See “Non-IFRS Measures” therein).

Operating cash flow
The following table sets out how operating cash flow is calculated from figures shown in the Financial Statements:

	Three months ended December 31				Year ended December 31
USD Thousands	2024		2023		2024		2023
Revenue	199,124		198,460		797,783		853,906
Production costs and net sales of diluent to third party¹	(119,371	)	(126,414	)	(447,481	)	(491,303	)
Current tax	(1,595	)	1,588		(8,313	)	(14,457	)
Operating cash flow	78,158		73,634		341,989		348,146

¹ Include net sales of diluent to third party amounting to USD 737 thousand for the fourth quarter of 2024 and the year ended December 31, 2024.

The operating cash flow for the year ended December 31, 2023 including the operating cash flow contribution of the Brooks assets acquisition from the effective date of January 1, 2023 to the completion date of March 3, 2023 amounted to USD 353,048 thousand.

Free cash flow
The following table sets out how free cash flow is calculated from figures shown in the Financial Statements:

	Three months ended December 31				Year ended December 31
USD Thousands	2024		2023		2024		2023
Operating cash flow – see above	78,158		73,634		341,989		348,146
Capital expenditures	(126,256	)	(128,825	)	(434,713	)	(312,729	)
Abandonment and farm-in expenditures¹	(3,364	)	(1,516	)	(8,302	)	(9,199	)
General, administration and depreciation expenses before depreciation²	(3,569	)	(5,762	)	(14,814	)	(16,886	)
Cash financial items³	(6,445	)	(2,219	)	(19,657	)	(5,812	)
Free cash flow	(61,476	)	(64,688	)	(135,497	)	3,520

¹ See note 19 to the Financial Statements
² Depreciation is not specifically disclosed in the Financial Statements
³ See notes 5 and 6 to the Financial Statements

The free cash flow for the year ended December 31, 2023 including the free cash flow contribution of the Brooks assets acquisition from the effective date of January 1, 2023 to the completion date of March 3, 2023 amounted to USD 2,689 thousand. Free cash flow is before shareholder distributions and financing costs.

EBITDA
The following table sets out the reconciliation from net result from the consolidated statement of operations to EBITDA:

	Three months ended December 31				Year ended December 31
USD Thousands	2024		2023		2024		2023
Net result	415		29,710		102,219		172,979
Net financial items	35,767		6,509		59,709		22,736
Income tax	3,852		4,691		33,325		55,362
Depletion and decommissioning costs	32,087		30,434		128,392		101,922
Depreciation of other tangible fixed assets	2,430		1,309		8,933		7,812
Exploration and business development costs	1,725		348		2,069		2,355
Depreciation included in general, administration and depreciation expenses¹	308		389		1,241		1,569
Sale of assets²	(400	)	(7,106	)	(400	)	(19,018	)
EBITDA	76,814		66,284		335,488		345,717

¹ Item is not shown in the Financial Statements
² Sale of assets is included under “Other income/(expense)” but not specifically disclosed in the Financial Statements

The EBITDA for the year ended December 31, 2023 including the EBITDA contribution of the Brooks assets acquisition from the effective date of January 1, 2023 to the completion date of March 3, 2023 amounted to USD 350,618 thousand.

Operating costs
The following table sets out how operating costs is calculated:

	Three months ended December 31				Year ended December 31
USD Thousands	2024		2023		2024		2023
Production costs	120,108		126,414		448,218		491,303
Cost of blending	(36,036	)	(44,473	)	(152,735	)	(172,996	)
Change in inventory position	(4,633	)	1,427		(1,473	)	3,655
Operating costs	79,439		83,368		294,010		321,962

The operating costs for the year ended December 31, 2023 including the operating costs contribution of the Brooks assets acquisition from the effective date of January 1, 2023 to the completion date of March 3, 2023 amounted to USD 328,763 thousand.

Net cash / (debt)
The following table sets out how net cash / (debt) is calculated from figures shown in the Financial Statements:

USD Thousands	December 31, 2024		December 31, 2023
Bank loans	(5,121	)	(9,031	)
Bonds¹	(450,000	)	(450,000	)
Cash and cash equivalents	246,593		517,074
Net cash / (debt)	(208,528	)	58,043

¹ The bond amount represents the redeemable value at maturity (February 2027).

Reserves and Resources Advisory
This press release contains references to estimates of gross and net reserves and resources attributed to the Corporation’s oil and gas assets. For additional information with respect to such reserves and resources, refer to “Reserves and Resources Advisory” in the MD&A and the MCR. Light, medium and heavy crude oil reserves/resources disclosed in this press release include solution gas and other by-products. Also see “Supplemental Information regarding Product Types” below.

Reserve estimates, contingent resource estimates and estimates of future net revenue in respect of IPC’s oil and gas assets in Canada are effective as of December 31, 2024, and are included in the reports prepared by Sproule Associates Limited (Sproule), an independent qualified reserves evaluator, in accordance with National Instrument 51-101 – Standards of Disclosure for Oil and Gas Activities (NI 51-101) and the Canadian Oil and Gas Evaluation Handbook (the COGE Handbook) and using Sproule’s December 31, 2024 price forecasts.

Reserve estimates, contingent resource estimates and estimates of future net revenue in respect of IPC’s oil and gas assets in France and Malaysia are effective as of December 31, 2024, and are included in the report prepared by ERC Equipoise Ltd. (ERCE), an independent qualified reserves auditor, in accordance with NI 51-101 and the COGE Handbook, and using Sproule’s December 31, 2024 price forecasts.

The price forecasts used in the Sproule and ERCE reports are available on the website of Sproule (sproule.com) and are contained in the MCR. These price forecasts are as at December 31, 2024 and may not be reflective of current and future forecast commodity prices.

The reserve life index (RLI) is calculated by dividing the 2P reserves of 493 MMboe as at December 31, 2024 by the mid-point of the 2025 CMD production guidance of 43,000 to 45,000 boepd. Reserves replacement ratio is based on 2P reserves of 468 MMboe as at December 31, 2023, sales production during 2024 of 16.6 MMboe, net additions to 2P reserves during 2024 of 41.7 MMboe and 2P reserves of 493 MMboe as at December 31, 2024.

The reserves and resources information and data provided in this press release present only a portion of the disclosure required under NI 51-101. All of the required information will be contained in the Corporation’s Annual Information Form for the year ended December 31, 2024, which will be filed on SEDAR+ (accessible at www.sedarplus.ca) on or before April 1, 2025. Further information with respect to IPC’s reserves, contingent resources and estimates of future net revenue, including assumptions relating to the calculation of net present value and other relevant information related to the contingent resources disclosed, is disclosed in the MCR available under IPC’s profile on www.sedarplus.ca and on IPC’s website at www.international-petroleum.com.

IPC uses the industry-accepted standard conversion of six thousand cubic feet of natural gas to one barrel of oil (6 Mcf = 1 bbl). A BOE conversion ratio of 6:1 is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. As the value ratio between natural gas and crude oil based on the current prices of natural gas and crude oil is significantly different from the energy equivalency of 6:1, utilizing a 6:1 conversion basis may be misleading as an indication of value.

Supplemental Information regarding Product Types

The following table is intended to provide supplemental information about the product type composition of IPC’s net average daily production figures provided in this press release:

	Heavy Crude Oil (Mbopd)	Light and Medium Crude Oil (Mbopd)	Conventional Natural Gas (per day)	Total (Mboepd)
Three months ended
December 31, 2024	24.3	7.1	95.9 MMcf (16.0 Mboe)	47.4
December 31, 2023	25.7	6.6	103.8 MMcf (17.3 Mboe)	49.6
Year ended
December 31, 2024	23.9	7.7	95.1 MMcf (15.8 Mboe)	47.4
December 31, 2023	25.8	8.1	102.8 MMcf (17.1 Mboe)	51.1

This press release also makes reference to IPC’s forecast total average daily production of 43,000 to 45,000 boepd for 2025. IPC estimates that approximately 55% of that production will be comprised of heavy oil, approximately 12% will be comprised of light and medium crude oil and approximately 33% will be comprised of conventional natural gas.

Currency
All dollar amounts in this press release are expressed in United States dollars, except where otherwise noted. References herein to USD mean United States dollars. References herein to CAD mean Canadian dollars.

The MIL Network –

February 11, 2025

MIL-OSI: Unaudited financial results of LHV Group for Q4 and 12 months of 2024

Source: GlobeNewswire (MIL-OSI)

The year-end was a successful one for LHV, supported by strong loan issue and deposit taking. The company met the profit target set in the financial plan.

In 2024, AS LHV Group generated net revenue of 338.3 million euros, i.e., 11% more than in the previous year, thanks to strong business growth. Annual net interest income increased to 273.3 million euros (+8%) and net fee and commission income to 60.3 million euros (+24%). Consolidated expenditure for 2024 totalled 146.9 million euros, i.e., 14% higher than the previous year. The consolidated net profit of AS LHV Group in 2024 was 150.3 million euros, i.e., 9.4 million euros more than in 2023 (+7%).

Of the subsidiaries, AS LHV Pank earned a total of 140.5 million euros in net profit in 2024, UK Bank Limited 5.8 million euros, AS LHV Varahaldus 1.6 million euros, and AS LHV Kindlustus 1.2 million euros.

By the end of 2024, the consolidated assets of LHV Group increased to 8.74 billion euros, growing by 23% year-on-year, i.e., 1.64 billion euros. In Q4, the volume of assets increased by 12%.

The consolidated loan portfolio of LHV increased by 990 million euros to 4.55 billion euros (+28%) in 2024. In Q4, the loan portfolio increased by 10%, i.e., 426 million euros. Corporate loans increased by 328 million euros over the quarter and retail loans by 98 million euros.

The Group’s consolidated deposits grew by 1.18 billion euros over the year to 6.91 billion euros (+21%). In Q4, deposits increased by 624 million euros, i.e., 10%, while deposits of regular clients increased by 134 million euros.

The total volume of funds managed by LHV increased by 39 million euros to 1.56 billion euros (+3%) over the year. In the last quarter of the year, the volume of funds increased by 37 million euros (+2%).

The number of processed payments related to clients that were financial intermediaries amounted to 74.8 million payments in 2024 (+51% compared to 49.5 million payments in 2023). In Q4, 19.8 million such payments were made, i.e., 6% more than in Q3.

In Q4 of 2024, AS LHV Group’s consolidated net profit amounted to 36.3 million euros, which is 1.6 million euros more than in Q3 (+5%). On a year-on-year basis, quarterly profit increased by 11%. AS LHV Pank earned 34.8 million euros in net profit in Q4. In the last quarter of the year, LHV Bank Ltd earned a net profit of 640 thousand euros, AS LHV Varahaldus 509 thousand euros, and AS LHV Kindlustus 68 thousand euros. The return on equity attributable to the shareholders of the Group was 22% in Q4.

The Group’s consolidated net income increased by 2% in Q4 compared to the previous quarter of the year to 84.9 million euros. Net income was 1% higher than last year. Net interest income was generated at 66.6 million euros, and net fee and commission income at 17.3 million euros. Consolidated operating expenses were 40.8 million euros in Q4, which is 14% higher than in Q3 and 13% higher than a year earlier.

Income statement, EUR thousand	Q4-2024	Q3-2024	Q4-2023
Net interest income	66 556	67 426	67 670
Net fee and commission income	17 324	14 630	14 264
Net gains from financial assets	-198	799	480
Other income	1 190	354	1 243
Result from insurance activities	49	357	371
Total revenue	84 921	83 566	84 029
Staff costs	-22 831	-19 499	-17 765
Office rent and expenses	-715	-801	-872
IT expenses	-4 270	-3 612	-4 067
Marketing expenses	-2 086	-1 298	-1 117
Other operating expenses	-10 885	-10 702	-12 366
Total operating expenses	-40 786	-35 911	-36 187
EBIT	44 136	47 655	47 841
Earnings before impairment losses	44 136	47 655	47 841
Impairment losses on loans and advances	-1 085	-7 277	-9 430
Income tax	-6 733	-5 681	-5 643
Net profit	36 318	34 698	32 768
Profit attributable to non-controlling interest	566	312	231
Profit attributable to share holders of the parent	35 752	34 386	32 537

Profit attributable to non-controlling interest	0.11	0.11	0.10
Profit attributable to share holders of the parent	0.11	0.10	0.10

Balance sheet, EUR thousand	Dec 2024	Sep 2024	Dec 2023
Cash and cash equivalents	3 818 305	3 376 016	3 119 394
Financial assets	309 804	259 933	340 341
Loans granted	4 591 906	4 168 778	3 591 517
Loan impairments	-39 813	-42 543	-29 725
Receivables from customers	5 367	10 598	49 505
Other assets	50 742	47 567	54 559
Total assets	8 736 311	7 820 348	7 125 590
Demand deposits	4 855 101	4 160 516	3 808 162
Term deposits	2 055 009	2 125 844	1 922 843
Loans received	927 686	679 550	563 634
Loans received and deposits from customers	7 837 795	6 965 910	6 294 639
Other liabilities	93 601	108 605	147 934
Subordinated loans	126 257	106 079	126 652
Total liabilities	8 057 653	7 180 595	6 569 225
Equity	678 657	639 754	556 365
Minority interest	8 571	8 006	7 937
Total liabilities and equity	8 736 311	7 820 348	7 125 590

LHV Group continued its rapid growth in 2024. The strong end to the year was influenced by a good level of client activity and higher than previous fee and commission income. The decline in interest income was mitigated by strong growth in the loan portfolio. Thanks to the good quality of the portfolio and the improvement in the macroeconomic situation, LHV reduced write-downs. The updated financial plan was accurately fulfilled by the end of the year.

The number of clients of LHV Pank increased by 10,900 to 455 thousand clients in Q4. Over the year, the number of the bank’s clients increased by 38,000, i.e., more than 9%. At the end of the year, clients also actively used LHV’s banking services, and the decrease in interest income was offset by better fee and commission income, especially from investment banking. As interest income continues to be under pressure, the bank is paying attention to limiting costs by increasing efficiency. In this regard, LHV Pank announced layoffs in December, reducing the workforce by 44 people.

The loan issue intensified in the last months of the year and, in Q4, the loan portfolio of LHV Pank increased by 300 million euros. The quality of the loan portfolio has remained stronger than planned, and write-downs on loans were reduced. The deposits of LHV Pank increased by 577 million euros in the last quarter of the year, of which 180 million euros came from deposits of regular clients and 450 million euros from financial intermediaries, and platform deposits were reduced. The bank is still keeping the focus on growing deposits. At the beginning of October, the bank also issued 250 million euros worth of covered bonds.

At the beginning of December, The Banker magazine of the Financial Times declared LHV the best bank of the year in Estonia. Furthermore, Q4 included a review of several important cooperation projects: LHV will be the main sponsor of both Estonian football and the biathlon in the coming years.

The loan portfolio of LHV Bank operating in the United Kingdom grew by more than half for the second quarter in a row. The loan portfolio increased by 126 million euros, while another 119 million euros of loans have been approved but not issued by the Credit Committee. The quality of the loan portfolio is generally strong. The volume of the deposits of LHV Bank increased by 70 million euros, with a total of nearly 11,600 depositors being involved. The volume of payments by financial intermediaries rose to record levels at the end of the year.

In December, LHV Bank opened a new mobile bank for its first clients, through which private persons can open an account and make payments. Further, the offer and app will continue to be improved, and their wider introduction to the market will be held in order to attract deposits directly from retail clients.

By the end of the year, the number of active clients of LHV Varahaldus making monthly contributions was 114,000. Nearly 14,000 of them submitted applications for larger contributions to the II pillar. Seasonally, contributions to the III pillar were actively made again. Operating income and expenses for the quarter remained at the level of the previous quarter. The profit was affected by a more modest financial income from the growth of the funds’ own units than before, but the financial plan still managed to be outpaced.

The stock markets had a strong quarter driven by tech stocks and the U.S. market. The quarterly rate of return of the pension funds M and L managed by LHV was 1.0% and 0.6%, respectively, while XL decreased by 1.4% against the background of a weak December. The rate of return of the more conservative funds XS and S is 0.8% and 1.2%, respectively. Pensionifond Indeks increased by 4.2%; Pensionifond Roheline lost 5.7% in value over the quarter.

For LHV Kindlustus, strong sales results, but also seasonally increased loss events, set the tone at the end of the year. The number of policies in force and clients is in a stable growth trend. A good sales result was shown by most types of insurance. Revenue from the insurance service continued to grow, while operating expenses increased. Gross losses increased a little faster compared to earned income. For the year as a whole, LHV Kindlustus earned 1.2 million from net profit and, thus, outperformed the financial plan.

LHV Group’s annual cost/income ratio turned out to be 43.4%, and return on equity 24.5%. The Group’s liquidity and capitalisation remain strong. In November, LHV Group conducted a successful offering of subordinated bonds, raising 20 million euros in capital from investors. LHV Group will publish the 2025 financial plan and five-year forecast on 13 February.

Comment by Madis Toomsalu, Chairman of the Management Board at LHV Group:
“The changes taking place in the world are probably the biggest in the last half century. We are witnessing the growth of geopolitical ambitions, structural changes in the economy, the decline of free trade, and the exponential growth of technological development.

Despite the different directions, 2024 was a successful year for LHV. After the supervisory exchange, we were able to restore the historically ambitious growth in business volumes. With a strong growth of 1 billion euros, i.e., 28% of the loan portfolio and a higher base interest rate, we achieved the highest business volumes and financial results in history.

In Estonia, we have grown into the second largest bank in terms of corporate loans. At the same time, the volume of home loans and the insurance business are also growing rapidly. The number of the Estonian bank’s clients increased by 38,000 and activity increased in all the important areas. In the United Kingdom, the corporate loan portfolio already exceeded 300 million euros by the end of the year, which is why we are increasing our long-term expectations. This is also reflected in the mobile app launched at the end of the year.”

To access the reports of AS LHV Group, please visit the website at: https://investor.lhv.ee/en/reports/.

In order to present the financial results, LHV Group will organise an investor meeting via the Zoom webinar platform. The virtual investor meeting will take place on 11 February at 9.00, before the market opens. The presentation will be in Estonian. We kindly ask you to register at the following address: https://lhvbank.zoom.us/webinar/register/WN_UP-IqHxNSRSVeoKeUcTOfQ.

LHV Group is the largest domestic financial group and capital provider in Estonia. LHV Group’s key subsidiaries are LHV Pank, LHV Varahaldus, LHV Kindlustus, and LHV Bank Limited. The Group employs over 1,200 people. As at the end of December, LHV’s banking services are being used by nearly 460,000 clients, the pension funds managed by LHV have 114,000 active clients, and LHV Kindlustus is protecting a total of 170,000 clients. LHV Bank Limited, a subsidiary of the Group, holds a banking licence in the United Kingdom and provides banking services to international financial technology companies, as well as loans to small and medium-sized enterprises.

Priit Rum
Communications Manager
Phone: +372 502 0786
Email: priit.rum@lhv.ee

Attachments

The MIL Network –

February 11, 2025

MIL-OSI: Odysight.ai Announces the Pricing of $21.5 Million Public Offering and Uplisting to the Nasdaq Capital Market

Source: GlobeNewswire (MIL-OSI)

Odysight.ai common stock to begin trading on Nasdaq Tuesday, February 11, 2025, under the symbol “ODYS”

OMER, Israel, Feb. 10, 2025 (GLOBE NEWSWIRE) — Odysight.ai Inc. (Nasdaq: ODYS) (“Odysight.ai” or the “Company”), a pioneering developer of AI systems for Predictive Maintenance (PdM) and Condition-Based Monitoring (CBM), today announced the pricing of a public offering of 3,307,692 shares of its common stock at a price to the public of $6.50 per share. The sole book-running manager of the offering will have a 30-day option to purchase up to an additional 496,153 shares of common stock from Odysight.ai at the public offering price, less underwriting discounts and commissions.

Odysight.ai’s common stock has been approved for listing and is expected to begin trading on the Nasdaq Capital Market under the symbol “ODYS” on Tuesday, February 11, 2025.

The offering is expected to close on February 12, 2025, subject to customary closing conditions.

The gross proceeds to Odysight.ai from the offering, before deducting underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $21.5 million. Odysight.ai intends to use the net proceeds from this offering for expanded research and development, increased sales and marketing, working capital and other general corporate purposes.

The Benchmark Company, LLC is acting as sole book-running manager for the offering.

A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission, and became effective on February 10, 2025. The proposed offering will be made only by means of a prospectus. Copies of the final prospectus, when available, may be obtained from The Benchmark Company, LLC, 150 East 58th St., 17th Floor, New York, NY 10155, by telephone: (212) 312-6700, or by email at prospectus@benchmarkcompany.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, 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 Odysight.ai

Odysight.ai is pioneering the Predictive Maintenance (PdM) and Condition Based Monitoring (CBM) markets with its visualization and AI platform. Providing video sensor-based solutions for critical systems in the aviation, transportation, and energy industries, Odysight.ai leverages proven visual technologies and products from the medical industry. Odysight.ai’s unique video-based sensors, embedded software, and AI algorithms are being deployed in hard-to-reach locations and harsh environments across a variety of PdM and CBM use cases. Odysight.ai’s platform allows maintenance and operations teams visibility into areas which are inaccessible under normal operation, or where the operating ambience is not suitable for continuous real-time monitoring.

We routinely post information that may be important to investors in the Investors section of our website. For more information, please visit: https://www.odysight.ai or follow us on Twitter, LinkedIn and YouTube.

Forward-Looking Statements

Information set forth in this news release contains forward-looking statements within the meaning of safe harbor provisions of the Private Securities Litigation Reform Act of 1995 relating to future events or our future performance. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, but not limited to, statements regarding the completion of the offering, the satisfaction of customary closing conditions related to the offering and the intended use of net proceeds from the offering. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other comparable terminology. Those statements are based on information we have when those statements are made or our management’s current expectation and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward- looking statements. Factors that may affect our results, performance, circumstances or achievements include, but are not limited to the following: (i) market acceptance of our existing and new products, including those that utilize our micro Odysight.ai technology or offer Predictive Maintenance and Condition Based Monitoring applications, (ii) lengthy product delays in key markets, (iii) an inability to secure regulatory approvals for the sale of our products, (iv) intense competition in the medical device and related industries from much larger, multinational companies, (v) product liability claims, product malfunctions and the functionality of Odysight.ai’s solutions under all environmental conditions, (vi) our limited manufacturing capabilities and reliance on third-parties for assistance, (vii) an inability to establish sales, marketing and distribution capabilities to commercialize our products, (viii) an inability to attract and retain qualified personnel, (ix) our efforts to obtain and maintain intellectual property protection covering our products, which may not be successful, (x) our reliance on a single customer that accounts for a substantial portion of our revenues, (xi) our reliance on single suppliers for certain product components, including for miniature video sensors which are suitable for our Complementary Metal Oxide Semiconductor technology products, (xii) the fact that we will need to raise additional capital to meet our business requirements in the future and that such capital raising may be costly, dilutive or difficult to obtain, (xiii) the impact of computer system failures, cyberattacks or deficiencies in our cybersecurity, (xiv) the fact that we conduct business in multiple foreign jurisdictions, exposing us to foreign currency exchange rate fluctuations, logistical, global supply chain and communications challenges, burdens and costs of compliance with foreign laws and political and economic instability in each jurisdiction and (xv) political, economic and military instability in Israel, including the impact of Israel’s war against Hamas and Hezbollah. These and other important factors discussed in Odysight.ai’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on March 26, 2024 and our other reports filed with the SEC could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Except as required under applicable securities legislation, Odysight.ai undertakes no obligation to publicly update or revise forward-looking information.

Investor Relations Contact:
Miri Segal
MS-IR LLC
msegal@ms-ir.com

Company Contact:
Einav Brenner, CFO
info@odysight.ai

The MIL Network –

February 11, 2025

MIL-OSI: F&M Bank Welcomes Peter Schork as Regional President for Toledo, Ohio & Southeast Michigan

Source: GlobeNewswire (MIL-OSI)

ARCHBOLD, Ohio, Feb. 10, 2025 (GLOBE NEWSWIRE) — F&M Bank (“F&M”), an Archbold, Ohio-based bank owned by Farmers & Merchants Bancorp, Inc. (Nasdaq: FMAO) announced that Peter Schork has joined F&M as Regional President of the Toledo, Ohio, and Southeastern Michigan regions.

Lars Eller, President and CEO of F&M stated, “As a proven community banker, Peter brings a wealth of experience to F&M. His leadership, deep market knowledge, and commitment to building strong relationships will be an invaluable resource to F&M as we continue to grow and serve our communities. We look forward to the impact he will make in driving success for our customers, employees, and stakeholders.”

In his new role, Peter will oversee F&M’s presence in the Toledo, Ohio, and Birmingham, Michigan markets, including offices in Waterville, Swanton, Perrysburg, Sylvania, and Downtown Toledo, as well as F&M’s Loan Production Office in Troy and its Birmingham, Michigan location.

Peter brings over 25 years of banking and financial experience to F&M. Prior to joining the Company, he served as the Ann Arbor President for Oxford Bank and co-founded the Ann Arbor State Bank serving as its President and CEO. In addition to his community bank experience, Peter was the CFO at Catalyst Commercial Real Estate, and the President of a Michigan-based title, mortgage, and real estate company. In addition to his business experience, Peter is a proud supporter of various community organizations. Currently, he serves on the Michigan Theater Board of Trustees, is a member of the Ray and Eleanor Cross Foundation and the Kiwanis Club of Ann Arbor and is a Board Member and Treasurer for the Homeless/Unhoused Mission. Peter holds a Master of Business Administration (M.B.A.) with a specialization in Finance from Eastern Michigan University.

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

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e11179be-cf20-449e-9416-ca1e8ff1fd2f

The MIL Network –

February 11, 2025

MIL-OSI: Archimedes Tech SPAC Partners II Co. Announces Pricing of $200 Million Initial Public Offering

Source: GlobeNewswire (MIL-OSI)

CLAYMONT, Del., Feb. 10, 2025 (GLOBE NEWSWIRE) — Archimedes Tech SPAC Partners II Co. (the “Company”), a newly organized special purpose acquisition company formed as a Cayman Islands exempted company and led by Chairman Eric R. Ball and CEO Long Long, today announced the pricing of its initial public offering of 20,000,000 units at an offering price of $10.00 per unit, with each unit consisting of one ordinary share and one-half of one redeemable warrant. Each whole warrant will entitle the holder thereof to purchase one ordinary share at $11.50 per share. The units are expected to trade on The Nasdaq Global Market (“Nasdaq”) under the ticker symbol “ATIIU” beginning February 11, 2025. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Once the securities comprising the units begin separate trading, the ordinary shares and the warrants are expected to be traded on Nasdaq under the symbols “ATII” and “ATIIW,” respectively.

BTIG, LLC is acting as sole book-running manager for the offering.

The Company has granted the underwriter a 45-day option to purchase up to an additional 3,000,000 units at the initial public offering price to cover over-allotments, if any. The offering is expected to close on February 12, 2025, subject to customary closing conditions.

A registration statement relating to the securities sold in the initial public offering was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on February 10, 2025. The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from: BTIG, LLC, 65 East 55th Street, New York, New York 10022, or by email at ProspectusDelivery@btig.com, or by accessing the SEC’s website at www.sec.gov.

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

About Archimedes Tech SPAC Partners II Co.

Archimedes Tech SPAC Partners II Co. is a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or other similar business combination with one or more businesses. While the Company may pursue a business combination target in any business, industry or geographical location, the Company intends to focus its search for businesses in the technology industry, and its focus will be on the artificial intelligence, cloud services and automotive technology sectors.

Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to the Company’s initial public offering (“IPO”) and search for an initial business combination. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. 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 preliminary prospectus for the IPO filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Contacts:

Long Long
Chief Executive Officer
Archimedes Tech SPAC Partners II Co.
(725) 312-2430

The MIL Network –

February 11, 2025
MIL-OSI: First National Bank Alaska named top ten bank in America by Forbes

Source: GlobeNewswire (MIL-OSI)

ANCHORAGE, Alaska, Feb. 10, 2025 (GLOBE NEWSWIRE) — Forbes selected Alaska’s largest community bank, First National Bank Alaska, as one of the top ten banks in the country for their annual list America’s Best Banks. First National ranked sixth in the nation and was the only bank in Alaska to make the list.

The global media company evaluates 11 metrics, including growth, credit quality, profitability and stock performance.

“We are honored to receive this recognition,” said First National Board Chair and CEO/President Betsy Lawer. “I want to extend my gratitude to our customers and congratulate the more than 600 local employees who provide excellent customer service every day. Being ranked as one of the top ten banks in America by Forbes is a reflection of employee dedication to helping fellow Alaskans succeed.”

Alaska’s community bank since 1922, First National Bank Alaska proudly meets the financial needs of Alaskans with ATMs and 28 locations in 19 communities throughout the state, and by providing banking services to meet their needs across the nation and around the world.

In 2024, Alaska Business readers voted First National “Best of Alaska Business” in the Best Place to Work category for the ninth year in a row, Best Bank/Credit Union for the fourth time running, and Best Customer Service. The bank was also voted “Best of Alaska” in 2024 in the Anchorage Daily News awards, ranking as one of the top three in the Bank/Financial category for the sixth year in a row. American Banker again recognized First National as a “Best Bank to Work For” in 2024, for the seventh consecutive year.

For more than a century, the bank has been committed to supporting the communities it serves. In 2024, for the eighth consecutive reporting period, over a span of twenty-four years, First National received an Outstanding Community Reinvestment Act performance rating from the Office of the Comptroller of the Currency. Our dedicated team strives to provide exceptional customer service to meet the banking needs of our fellow Alaskans to help shape a brighter tomorrow.

First National Bank Alaska is a Member FDIC, Equal Housing Lender, and recognized as a Minority Depository Institution by the Office of the Comptroller of the Currency, as it is majority-owned by women.

CONTACT: Marketing
(907) 777-3409

The MIL Network –

February 11, 2025
MIL-OSI: $HAREHOLDER ALERT: The M&A Class Action Firm Encourages Stockholders of AMCR, HEES, LBRDA, SDIG to Act Now
Source: GlobeNewswire (MIL-OSI)

NEW YORK, Feb. 10, 2025 (GLOBE NEWSWIRE) —

Monteverde & Associates PC (the “M&A Class Action Firm”), has recovered millions of dollars for shareholders and is recognized as a Top 50 Firm by ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating:
- AMCOR plc (NYSE: AMCR), relating to the proposed merger with Berry Global Group, Inc. Under the terms of the agreement, Berry shareholders will receive a fixed exchange ratio of 7.25 Amcor shares for each Berry share held upon closing, resulting in Amcor and Berry shareholders owning approximately 63% and 37% of the combined company, respectively.
ACT NOW. The Shareholder Vote is scheduled for February 25, 2025.

Click here for more information https://monteverdelaw.com/case/amcor-plc-amcr/. It is free and there is no cost or obligation to you.
- H&E Equipment Services, Inc. (Nasdaq: HEES), relating to the proposed merger with United Rentals, Inc. Under the terms of the agreement, United Rentals will acquire H&E for $92 per share in cash.
ACT NOW. The Tender Offer expires on February 25, 2025.

Click here for more https://monteverdelaw.com/case/he-equipment-services-inc-hees/. It is free and there is no cost or obligation to you.
- Liberty Broadband Corporation (NASDAQ: LBRDA, LBRDK, LBRDP), relating to the proposed merger with Charter Communications, Inc. Under the terms of the agreement, Liberty Broadband common stockholders will receive 0.236 of a share of Charter common stock per share of Liberty Broadband common stock they own.
ACT NOW. The Shareholder Vote is scheduled for February 26, 2025.

Click here for more information https://monteverdelaw.com/case/liberty-broadband-corporation-lbrda-lbrdk-lbrdp/. It is free and there is no cost or obligation to you.
- Stronghold Digital Mining, Inc. (Nasdaq: SDIG), relating to its proposed merger with Bitfarms Ltd. Under the terms of the agreement, Stronghold stockholders are expected to receive 2.52 shares of Bitfarms per share of Stronghold they own.
ACT NOW. The Shareholder Vote is scheduled for February 27, 2025.

Click here for more information: https://monteverdelaw.com/case/stronghold-digital-mining-inc/. It is free and there is no cost or obligation to you.

NOT ALL LAW FIRMS ARE THE SAME. Before you hire a law firm, you should talk to a lawyer and ask:
1. Do you file class actions and go to Court?
2. When was the last time you recovered money for shareholders?
3. What cases did you recover money in and how much?
About Monteverde & Associates PC

Our firm litigates and has recovered money for shareholders…and we do it from our offices in the Empire State Building. We are a national class action securities firm with a successful track record in trial and appellate courts, including the U.S. Supreme Court.

No company, director or officer is above the law. If you own common stock in any of the above listed companies and have concerns or wish to obtain additional information free of charge, please visit our website or contact Juan Monteverde, Esq. either via e-mail at jmonteverde@monteverdelaw.com or by telephone at (212) 971-1341.

Contact:
Juan Monteverde, Esq.
MONTEVERDE & ASSOCIATES PC
The Empire State Building
350 Fifth Ave. Suite 4740
New York, NY 10118
United States of America
jmonteverde@monteverdelaw.com
Tel: (212) 971-1341

Attorney Advertising. (C) 2024 Monteverde & Associates PC. The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com). Prior results do not guarantee a similar outcome with respect to any future matter.

The MIL Network –
February 11, 2025