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Category: GlobeNewswire

  • MIL-OSI: AGF Investments Announces January 2025 Cash Distributions for AGF Enhanced U.S. Equity Income Fund, AGF Total Return Bond Fund and AGF Systematic Global Infrastructure ETF

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Jan. 24, 2025 (GLOBE NEWSWIRE) —

    AGF Investments Inc. (AGF Investments) today announced the January 2025 cash distributions for AGF Enhanced U.S. Equity Income Fund*, AGF Total Return Bond Fund* and AGF Systematic Global Infrastructure ETF, which pay monthly distributions. Unitholders of record on January 31, 2025 will receive cash distributions payable on February 6, 2025.

    Details regarding the final “per unit” distribution amounts are as follows:

    ETF Ticker Exchange  Cash Distribution Per Unit ($)
    AGF Enhanced U.S. Equity Income Fund* AENU Cboe Canada Inc.  $0.139916
    AGF Total Return Bond Fund* ATRB Cboe Canada Inc.  $0.131000
    AGF Systematic Global Infrastructure ETF QIF Cboe Canada Inc.  $0.141593


    *AGF Enhanced U.S. Equity Income Fund and AGF Total Return Bond Fund are mutual funds with an ETF series option.

    Further information about the AGF ETFs can be found at AGF.com.

    This information is not intended to provide legal, accounting, tax, investment, financial, or other advice, and should not be relied upon for providing such advice. Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. Please read the prospectus before investing. Investment funds are not guaranteed, their values change frequently, and past performance may not be repeated.

    AGF ETFs are ETFs offered by AGF Investments Inc. ETFs are listed and traded on organized Canadian exchanges and may only be bought and sold through licensed dealers.

    About AGF Management Limited

    Founded in 1957, AGF Management Limited (AGF) is an independent and globally diverse asset management firm. Our companies deliver excellence in investing in the public and private markets through three business lines: AGF Investments, AGF Capital Partners and AGF Private Wealth.

    AGF brings a disciplined approach, focused on incorporating sound, responsible and sustainable corporate practices. The firm’s collective investment expertise, driven by its fundamental, quantitative and private investing capabilities, extends globally to a wide range of clients, from financial advisors and their clients to high-net worth and institutional investors including pension plans, corporate plans, sovereign wealth funds, endowments and foundations.

    Headquartered in Toronto, Canada, AGF has investment operations and client servicing teams on the ground in North America and Europe. With nearly $53 billion in total assets under management and fee-earning assets, AGF serves more than 815,000 investors. AGF trades on the Toronto Stock Exchange under the symbol AGF.B.

    About AGF Investments

    AGF Investments is a group of wholly owned subsidiaries of AGF Management Limited, a Canadian reporting issuer. The subsidiaries included in AGF Investments are AGF Investments Inc. (AGFI), AGF Investments America Inc. (AGFA), AGF Investments LLC (AGFUS) and AGF International Advisors Company Limited (AGFIA). The term AGF Investments may refer to one or more of these subsidiaries or to all of them jointly. This term is used for convenience and does not precisely describe any of the separate companies, each of which manages its own affairs.

    AGF Investments entities only provide investment advisory services or offers investment funds in the jurisdiction where such firm and/or product is registered or authorized to provide such services.

    AGF Investments Inc. is a wholly-owned subsidiary of AGF Management Limited and conducts the management and advisory of mutual funds in Canada.

    Media Contact

    Amanda Marchment
    Director, Corporate Communications
    416-865-4160
    amanda.marchment@agf.com  

    The MIL Network –

  • MIL-OSI: Purpose Investments Announces Expansion of Its Yield Shares Suite with the Filling of the Preliminary Prospectus for 8 New ETFs

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Jan. 24, 2025 (GLOBE NEWSWIRE) — Purpose Investments Inc. (“Purpose Investments”) is pleased to announce that it has filed and received a preliminary prospectus with the Canadian securities regulators for the proposed launch of eight new yield-focused single-stock ETFs, expanding its acclaimed Yield Shares suite. These ETFs are designed to provide investors with monthly income while maintaining exposure to leading global companies.

    The new Yield Shares ETFs include:

    Yield Shares ETF Ticker Underlying Company
    Costco (COST) Yield Shares Purpose ETF YCOS Costco
    Palantir (PLTR) Yield Shares Purpose ETF YPLT Palantir
    UnitedHealth (UNH) Yield Shares Purpose ETF YUNH UnitedHealth Group
    JPMorgan (JPM) Yield Shares Purpose ETF YJPM JPMorgan
    Coinbase (COIN) Yield Shares Purpose ETF YCON Coinbase
    Netflix (NFLX) Yield Shares Purpose ETF YNET Netflix
    Broadcom (AVGO) Yield Shares Purpose ETF YAVG Broadcom
    Tech Innovators Yield Shares Purpose ETF YMAG Broadcom, Amazon, Tesla, Microsoft, Meta, Alphabet, Apple, and Nvidia

    “Since launching in 2022, Purpose Yield Shares has become a leading choice for investors seeking monthly income while maintaining growth exposure to the world’s top companies. In response to strong client demand, we are excited to expand our lineup to include high-growth technology and innovation leaders while also diversifying into market pioneers within the consumer staples, financial, and healthcare sectors. These new ETFs enhance the breadth of the Yield Shares suite, offering investors a wider range of opportunities to generate monthly income from industry giants while participating in their long-term growth,” said Yuan Gao, Vice President of Product. “The Yield Shares lineup remains dedicated to providing investors with access to high-quality companies with strong fundamentals and long-term growth potential. These new ETFs enable investors to continue benefiting from exposure to market leaders driving innovation and economic progress while earning monthly income. Whether in technology, consumer staples, financial services, or healthcare, our Yield Shares suite delivers a compelling mix of income and capital appreciation potential, allowing investors to share in the success of industry leaders.”

    Each ETF seeks to provide shareholders with (i) long-term capital appreciation through purchasing and holding common stock of the underlying companies, including by using leverage through cash borrowing to purchase common stock of the underlying companies and (ii) distributions by writing covered call options and/or cash covered put options on a portion of the fund’s portfolio.

    The Tech Innovators Yield Shares Purpose ETF (Ticker: YMAG) intends to provide investors with exposure to a basket of leading global technology and innovation-driven companies while generating income by writing covered call options and/or cash-covered put options on a portion of the portfolio.

    YMAG provides investors with a one-ticket solution to gain exposure to the Nasdaq trillion-dollar market cap club while generating monthly income. Known as “BATMMAAN,” this select group of industry leaders—Broadcom, Amazon, Tesla, Microsoft, Meta, Alphabet, Apple, and Nvidia—is driving technological innovation across artificial intelligence, cloud computing, digital services, and next-generation infrastructure, positioning themselves as key players in the future of technology and economic growth.

    Building on the success of the Yield Shares lineup, these new ETFs will aim to offer investors monthly cash distributions alongside exposure to the long-term growth potential of industry-leading companies.

    About Purpose Investments Inc.
    Purpose Investments is an asset management company with more than $23 billion in assets under management. Purpose Investments has an unrelenting focus on client-centric innovation and offers a range of managed and quantitative investment products. Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Unlimited, an independent technology-driven financial services company.

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

    A preliminary long-form prospectus relating to the ETFs (the “Preliminary Prospectus”) has been filed with the Canadian securities commissions or similar authorities. You cannot buy securities of the ETFs until the relevant securities commissions or similar authorities issue receipts for the final prospectus of the ETFs. Important information about the ETFs is contained in the Preliminary Prospectus. Copies of the Preliminary Prospectus may be obtained from Purpose, or at http://www.purposeinvest.com.

    Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. Please read the prospectus and other disclosure documents before investing. There can be no assurance that the full amount of your investment in a fund will be returned to you. If the securities are purchased or sold on a stock exchange, you may pay more or receive less than the current net asset value. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated. Fund distribution levels and frequencies are not guaranteed and may vary at the manager’s sole discretion.

    The MIL Network –

  • MIL-OSI: Abaxx Announces Closing of Final Tranche of C$2,756,000 Private Placement

    Source: GlobeNewswire (MIL-OSI)

    /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

    TORONTO, Jan. 24, 2025 (GLOBE NEWSWIRE) — Abaxx Technologies Inc. (CBOE CA:ABXX) (“Abaxx” or the “Company”), a financial software and market infrastructure company, majority shareholder of Abaxx Singapore Pte. Ltd., the owner of Abaxx Commodity Exchange and Clearinghouse (individually, “Abaxx Exchange” and “Abaxx Clearing”), and producer of the SmarterMarkets™ Podcast, is pleased to announce it has today closed its final tranche (the “Final Tranche”) of a non-brokered private placement financing (the “Financing”). The Final Tranche consisted of the issuance of 50,000 common shares (the “Shares”) of the Company at a price of C$13.00 per Share for aggregate gross proceeds of C$650,000. The Financing, which consisted of the Final Tranche and a tranche which closed on November 22, 2024, consisted of the issuance of 212,000 Shares at a price of C$13.00 per Share for aggregate gross proceeds of C$2,756,000.

    The proceeds of the Financing are expected to be used for general corporate and working capital requirements, including to fund ongoing operations and/or working capital and minimum regulatory requirements for Abaxx Exchange and Abaxx Clearing. No finder’s fees or commissions were paid in connection with the Final Tranche.

    This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities issuable under the Financing have not been and will not be registered under the U.S. Securities Act or any state securities laws and may not be offered or sold to or for the account or benefit of persons in the “United States” or “U.S. persons” (as such terms are defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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

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

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

    For more information about this press release, please contact:

    Steve Fray, CFO
    Tel: 647-490-1590

    Media and investor inquiries:

    Abaxx Technologies Inc.
    Investor Relations Team
    Tel: +1 647 490 1590
    E-mail: ir@abaxx.tech

    Cautionary Statement Regarding Forward-Looking Information

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

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

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

    The MIL Network –

  • MIL-OSI: Stardust Power Inc. Announces Pricing of $5.75 Million Public Offering

    Source: GlobeNewswire (MIL-OSI)

    GREENWICH, Conn., Jan. 24, 2025 (GLOBE NEWSWIRE) — Stardust Power Inc. (NASDAQ: SDST) (“Stardust Power” or the “Company”), an American developer of battery-grade lithium products, today announced the pricing of its “reasonable best efforts” public offering for the purchase and sale of up to 4,792,000 shares of common stock (or common stock equivalents in lieu thereof) and warrants to purchase up to 4,792,000 shares of common stock at a combined offering price of $1.20 per share and accompanying warrant (the “Offering”). The Company expects to receive aggregate gross proceeds of approximately $5.75 million, before deducting placement agent fees and other offering expenses, and assuming no exercise of the warrants. The warrants will have an exercise price of $1.30 per share, will be exercisable immediately and will expire five years from the issuance date.

    “We are proud that we have priced this round of financing with investment from a large institutional investor, representing their support for the Stardust Power story. This financing continues building on our progress towards the FID stage for our large central lithium refinery. The capital provides stability for the company to continue to execute against our business plan,” noted Stardust Power Founder and CEO, Roshan Pujari.

    The closing of the Offering is expected to occur on or about January 27, 2025, subject to the satisfaction of customary closing conditions. The Company intends to use the net proceeds from this Offering for working capital and general corporate purposes, as well as to satisfy amounts due under certain existing promissory notes of the Company.

    A.G.P./Alliance Global Partners is acting as the sole placement agent for the Offering.

    The securities described above are being offered pursuant to a registration statement on Form S-1 (File No. 333-284298) previously filed with the Securities and Exchange Commission (“SEC”) on January 15, 2025, which was declared effective on January 23, 2025. This Offering is being made only by means of a prospectus forming part of the effective registration statement. A preliminary prospectus relating to the Offering has been filed with the SEC. An electronic copy of the final prospectus relating to the Offering may be obtained, when available, on the SEC’s website located at http://www.sec.gov and may also be obtained from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or by telephone at (212) 624-2060, or by email at prospectus@allianceg.com.

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

    About Stardust Power Inc.

    Stardust Power is a developer of battery-grade lithium products designed to bolster America’s energy leadership by building resilient supply chains. Stardust Power is developing a strategically central lithium refinery in Muskogee, Oklahoma with the anticipated capacity of producing up to 50,000 metric tons per annum of battery-grade lithium. The Company is committed to sustainability at each point in the process. Stardust Power trades on the Nasdaq under the ticker symbol “SDST.”

    For more information, visit http://www.stardust-power.com

    Stardust Power Contacts

    For Investors:
    Johanna Gonzalez
    investor.relations@stardust-power.com

    For Media:
    Michael Thompson
    media@stardust-power.com

    Forward Looking Statements

    Certain statements in this press release constitute “forward-looking statements.” Such forward-looking statements are often identified by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “forecasted,” “projected,” “potential,” “seem,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or otherwise indicate statements that are not of historical matters, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements include, among other things, statements relating to the satisfaction of customary closing conditions related to the Offering, the timing of the anticipated closing of the Offering and the intended use of proceeds from the Offering. These forward-looking statements and factors that may cause actual results to differ materially from current expectations include, but are not limited to: the ability of Stardust Power to grow and manage growth profitably, maintain key relationships and retain its management and key employees; risks related to the uncertainty of the projected financial information with respect to Stardust Power; risks related to the price of Stardust Power’s securities, including volatility resulting from changes in the competitive and highly regulated industries in which Stardust Power plans to operate, variations in performance across competitors, changes in laws and regulations affecting Stardust Power’s business and changes in the combined capital structure; and risks related to the ability to implement business plans, forecasts, and other expectations and identify and realize additional opportunities. The foregoing list of factors is not exhaustive.

    Stockholders and prospective investors should carefully consider the foregoing factors and the other risks and uncertainties described in documents filed by Stardust Power from time to time with the SEC.

    Stockholders and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which only speak as of the date made, are not a guarantee of future performance and are subject to a number of uncertainties, risks, assumptions and other factors, many of which are outside the control of Stardust Power. Stardust Power expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the expectations of Stardust Power with respect thereto or any change in events, conditions or circumstances on which any statement is based.

    The MIL Network –

  • MIL-OSI: Silicon Motion Confirms Quarterly Dividend

    Source: GlobeNewswire (MIL-OSI)

    TAIPEI, Taiwan and MILPITAS, Calif., Jan. 24, 2025 (GLOBE NEWSWIRE) — Silicon Motion Technology Corporation (NasdaqGS: SIMO)(“Silicon Motion” or the “Company”), a global leader in designing and marketing NAND flash controllers for solid state storage devices, confirms today its quarterly cash dividend.

    On October 28, 2024, the Board of Directors of the Company declared payment of an annual dividend of US$2.00 per ADS1, equivalent to US$0.50 per ordinary share, which will be paid in four quarterly installments of $0.50 per ADS, equivalent to US$0.125 per ordinary share.  According to the previously announced record and payment dates, the next quarterly installment will be paid on February 27, 2025 to all shareholders of record on February 13, 2025. Our depository bank’s DR Books will be closed for issuance and cancellation on February 13, 2025.

    The declaration and payment of future cash dividends are subject to the Board’s continuing determination that the payment of dividends is in the best interests of the Company’s shareholders and are in compliance with all laws and agreements of the Company applicable to the declaration and payment of cash dividends.

    ABOUT SILICON MOTION:

    We are the global leader in supplying NAND flash controllers for solid state storage devices.  We supply more SSD controllers than any other company in the world for servers, PCs and other client devices and are the leading merchant supplier of eMMC and UFS embedded storage controllers used in smartphones, IoT devices and other applications.  We also supply customized high-performance hyperscale data center and specialized industrial and automotive SSD solutions.  Our customers include most of the NAND flash vendors, storage device module makers and leading OEMs.  For further information on Silicon Motion, visit us at http://www.siliconmotion.com.

    FORWARD-LOOKING STATEMENTS:

    This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” or the negative of these terms or other comparable terminology. Although such statements are based on our own information and information from other sources we believe to be reliable, you should not place undue reliance on them. These statements involve risks and uncertainties, and actual market trends or our actual results of operations, financial condition or business prospects may differ materially from those expressed or implied in these forward-looking statements for a variety of reasons. Potential risks and uncertainties include, but are not limited to the unpredictable volume and timing of customer orders, which are not fixed by contract but vary on a purchase order basis; the loss of one or more key customers or the significant reduction, postponement, rescheduling or cancellation of orders from one or more customers; general economic conditions or conditions in the semiconductor or consumer electronics markets; the impact of inflation on our business and customer’s businesses and any effect this has on economic activity in the markets in which we operate; the functionalities and performance of our information technology (“IT”) systems, which are subject to cybersecurity threats and which support our critical operational activities, and any breaches of our IT systems or those of our customers, suppliers, partners and providers of third-party licensed technology; the effects on our business and our customer’s business taking into account the ongoing U.S.-China tariffs and trade disputes; the uncertainties associated with any future global or regional pandemic; the continuing tensions between Taiwan and China including enhanced military activities; decreases in the overall average selling prices of our products; changes in the relative sales mix of our products; changes in our cost of finished goods; supply chain disruptions that have affected us and our industry as well as other industries on a global basis; the payment, or non-payment, of cash dividends in the future at the discretion of our board of directors and any announced planned increases in such dividends; changes in our cost of finished goods; the availability, pricing, and timeliness of delivery of other components and raw materials used in the products we sell given the current raw material supply shortages being experienced in our industry; our customers’ sales outlook, purchasing patterns, and inventory adjustments based on consumer demands and general economic conditions; any potential impairment charges that may be incurred related to businesses previously acquired or divested in the future; our ability to successfully develop, introduce, and sell new or enhanced products in a timely manner; and the timing of new product announcements or introductions by us or by our competitors. For additional discussion of these risks and uncertainties and other factors, please see the documents we file from time to time with the U.S. Securities and Exchange Commission, including our Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission on April 30, 2024. Other than as required under the securities laws, we do not intend, and do not undertake any obligation to, update or revise any forward-looking statements, which apply only as of the date of this press release.

    1 One ADS is equivalent to four ordinary shares.

    The MIL Network –

  • MIL-OSI: Westboro Mortgage Investment Fund Announces Bonus Distribution to Unitholders

    Source: GlobeNewswire (MIL-OSI)

    OTTAWA, Ontario, Jan. 24, 2025 (GLOBE NEWSWIRE) — Westboro Mortgage Investment Fund is pleased to announce that it has paid a bonus distribution of 58 bps to all unit classes. This bonus distribution equals the excess income earned by the fund for the fiscal year ended December 31, 2024 and was pro-rated for the number of months an investor had holdings in 2024. The total distribution per unit for the 2024 fiscal year, inclusive of this bonus distribution, was 9.88%. This equates to a total annualized compounded return of 10.34% for the calendar year 2024.

    “We had yet another very successful year in 2024. We ended the year with all-time high totals of mortgage assets and investor capital. We were able to achieve this impressive ROI while simultaneously experiencing minimal mortgage losses. A special thank you to our valued investors, Westboro Broker Nation especially those who qualified for our Private Members Club and to our amazing staff, who are truly best in class,” said Derek Serra, President of Westboro Mortgage Investment Fund.

    About Westboro Mortgage Investment Fund

    The Fund manages a diversified portfolio of residential mortgages, with over 90% in 1st position, located in Ontario. The primary objective of the fund is to provide investors with a consistent and stable risk adjusted return for their investment portfolio. https://westboromic.com/fund-performance/

    FORWARD-LOOKING STATEMENTS
    This news release contains forward-looking statements within the meaning of applicable securities laws including, among others, our objectives, our strategies to achieve those objectives, our performance, our mortgage portfolio, and our distributions, as well as statements with respect to management’s beliefs, estimates, and intentions, and similar statements concerning anticipated future events, results, circumstances, performance, or expectations that are not historical facts. Forward-looking statements generally can be identified by using forward-looking terminology such as “outlook”, “objective”, “may”, “will”, “expect”, “intent”, “estimate”, “anticipate”, “believe”, “should”, “plans” or “continue” or similar expressions suggesting future outcomes or events. Such forward-looking statements reflect management’s current beliefs and are based on information currently available to management.

    These statements are not guarantees of future performance and are based on our estimates and assumptions that are subject to risks and uncertainties, including those described in our Offering Memorandum under “Risk Factors” (a copy of which can be obtained at https://westboromic.com/fund-performance/).

    Those risks and uncertainties include, among others, risks associated with public health crisis; liquidity; dependence on the Fund manager and the mortgage broker; potential conflicts of interest; no guaranteed return; credit risk; interest rate risk; environmental matters associated with our business; availability of investments; borrowing; limited sources of borrowing; risks related to the renewal of mortgages comprising our investment portfolio; risks related to the composition of our investment portfolio; reliance on borrowers; litigation risks; ability to manage growth; change in legislation; cyber risk; and qualification as a mortgage investment fund. Readers are cautioned that the foregoing list is not exhaustive. Although the forward-looking information contained in this news release is based upon what management believes are reasonable assumptions, there can be no assurance that actual results and performance will be consistent with these forward-looking statements.

    All forward-looking statements in this news release are qualified by these cautionary statements. Except as required by applicable law, the Corporation undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

    Scott Roberts
    Vice-President Sales – Funds
    Westboro Mortgage Investment Corp.
    267 Richmond Road, 2nd Floor | Ottawa, ON K1Z 6X3
    Email sroberts@westboromic.com

    The MIL Network –

  • MIL-OSI: Apollo Commercial Real Estate Finance, Inc. Announces 2024 Dividend Income Tax Treatment

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Jan. 24, 2025 (GLOBE NEWSWIRE) — Apollo Commercial Real Estate Finance, Inc. (the “Company” or “ARI”) (NYSE:ARI) today announced the estimated federal income tax treatment of the Company’s 2024 distributions on its common stock (CUSIP #03762U105) and its 7.25% Series B-1 Cumulative Redeemable Perpetual Preferred Stock.

    The federal income tax classification of the 2024 distributions on the Company’s common stock as it is expected to be reported on Form 1099-DIV is set forth in the following table ($ per share):

    Record Date Payable Date Total Distribution Per Share Ordinary Dividend Qualified Dividend Non-dividend Distribution Section 199A Dividend(1)
    12/29/2023 01/12/2024 $0.35000 $0.151978 $0.009218 $0.198022 $0.142760
    03/28/2024 04/15/2024 $0.35000 $0.151978 $0.009218 $0.198022 $0.142760
    06/28/2024 07/15/2024 $0.35000 $0.151978 $0.009218 $0.198022 $0.142760
    09/30/2024 10/15/2024 $0.25000 $0.108555 $0.006584 $0.141445 $0.101971

    (1) May be eligible for a 20% deduction under Section 199A of the Internal Revenue Code of 1986, as amended (the “IRC”). Stockholders are encouraged to consult with their own tax advisors as to their specific tax treatment of the Company’s distributions.

    The federal income tax classification of the 2024 distributions on the Company’s 7.25% Series B-1 Cumulative Redeemable Perpetual Preferred Stock as it is expected to be reported on Form 1099-DIV is set forth in the following table ($ per share):

    Record Date Payable Date Total Distribution Per Share Ordinary Dividend Qualified Dividend Non-dividend Distribution Section 199A Dividend
    03/28/2024 04/15/2024 $0.453125 $0.453125 $0.027483 – $0.425642
    06/28/2024 07/15/2024 $0.453125 $0.453125 $0.027483 – $0.425642
    09/30/2024 10/15/2024 $0.453125 $0.453125 $0.027483 – $0.425642
                 

    Pursuant to Section 857(b)(9) of the IRC, cash distributions made on January 15, 2025, with a record date of December 31, 2024, are treated as received by stockholders on December 31, 2024 to the extent of 2024 earnings and profits. As the Company’s aggregate 2024 cash distributions exceeded its 2024 earnings and profits, the January 2025 cash distributions declared in December 2024 are treated as 2025 distributions for federal income tax purposes and are not included on the 2024 Form 1099-DIV.

    Stockholders are encouraged to consult with their own tax advisors as to their specific tax treatment of the Company’s distributions.

    About Apollo Commercial Real Estate Finance, Inc.
    Apollo Commercial Real Estate Finance, Inc. (NYSE: ARI) is a real estate investment trust that primarily originates, acquires, invests in and manages performing commercial first mortgage loans, subordinate financings and other commercial real estate-related debt investments. The Company is externally managed and advised by ACREFI Management, LLC, a Delaware limited liability company and an indirect subsidiary of Apollo Global Management, Inc., a high-growth, global alternative asset manager with approximately $733 billion of assets under management as of September 30, 2024.

    Additional information can be found on the Company’s website at http://www.apollocref.com. Please note that our URL address has changed.

    Forward-Looking Statements
    Certain statements contained in this press release constitute forward-looking statements as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are intended to be covered by the safe harbor provided by the same. Forward-looking statements are subject to substantial risks and uncertainties, many of which are difficult to predict and are generally beyond the Company’s control. These forward-looking statements include information about possible or assumed future results of the Company’s business, financial condition, liquidity, results of operations, plans and objectives. When used in this release, the words believe, expect, anticipate, estimate, plan, continue, intend, should, may or similar expressions, are intended to identify forward-looking statements. Statements regarding the following subjects, among others, may be forward-looking: high interest rates and inflation; market trends in the Company’s industry, real estate values, the debt securities markets or the general economy; the timing and amounts of expected future fundings of unfunded commitments; the return on equity; the yield on investments; the ability to borrow to finance assets; the Company’s ability to deploy the proceeds of its capital raises or acquire its target assets; and risks associated with investing in real estate assets, including changes in business conditions and the general economy. For a further list and description of such risks and uncertainties, see the reports filed by the Company with the Securities and Exchange Commission. The forward-looking statements, and other risks, uncertainties and factors are based on the Company’s beliefs, assumptions and expectations of its future performance, taking into account all information currently available to the Company. Forward-looking statements are not predictions of future events. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

    CONTACT:     Hilary Ginsberg
    Investor Relations
    (212) 822-0767
         

    The MIL Network –

  • MIL-OSI: 2/2025・Trifork Group AG – Reporting of transactions made by persons discharging managerial responsibilities

    Source: GlobeNewswire (MIL-OSI)

    Company announcement no. 2 / 2025
    Schindellegi, Switzerland – 24 January 2025

    Reporting of transactions made by persons discharging managerial responsibilities

    Pursuant to the Market Abuse Regulation Article 19, Trifork Group AG (Swiss company registration number CHE-474.101.854) (“Trifork”) hereby notifies receipt of information of the following transactions made by persons discharging managerial responsibilities in Trifork in connection with fixed salaries paid in shares. Reference is made to company announcement no. 1/2025 on 21 January 2025.

    1. Details of the person discharging managerial responsibilities/person closely associated
    a) Name Jørn Larsen
    2. Reason for the notification
    a) Position/status CEO
    b) Initial notification/
    Amendment    		 Initial notification
    3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
    a) Name Trifork Group AG
    b) LEI 8945004BYZKXPESTBL36
    4.1 Details of the transaction(s)
    a) Description of the financial instrument, type of instrument

    Identification code

    		 Shares

    ISIN CH1111227810
    b) Nature of the transaction A share of 25% of the fixed monthly salary is paid out in shares as described in company announcement no. 1/2025.
    c) Price(s) and volume(s) Price(s) Volume(s)
    DKK 0 1’323
    d) Aggregated information
    —
    Aggregated volume —
    Price    		 N/A
    e) Date of the transaction 24 January 2025
    f) Place of the transaction Outside a trading venue. Trifork previously held the shares as treasury shares.
    1. Details of the person discharging managerial responsibilities/person closely associated
    a) Name Kristian Wulf-Andersen
    2. Reason for the notification
    a) Position/status CFO
    b) Initial notification/
    Amendment    		 Initial notification
    3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
    a) Name Trifork Group AG
    b) LEI 8945004BYZKXPESTBL36
    4.1 Details of the transaction(s)
    a) Description of the financial instrument, type of instrument

    Identification code

    		 Shares

    ISIN CH1111227810
    b) Nature of the transaction A share of 10% of the fixed monthly salary is paid out in shares as described in company announcement no. 1/2025.
    c) Price(s) and volume(s) Price(s) Volume(s)
    DKK 0 352
    d) Aggregated information
    —
    Aggregated volume —
    Price    		 N/A
    e) Date of the transaction 24 January 2025
    f) Place of the transaction Outside a trading venue. Trifork previously held the shares as treasury shares.


    Information and questions
    Frederik Svanholm, Group Investment Director, frsv@trifork.com, +41 79 357 73 17

    About Trifork
    Trifork is a pioneering global technology partner, empowering enterprise and public sector customers with innovative solutions. With 1,278 professionals across 76 business units in 15 countries, Trifork delivers expertise in inspiring, building, and running advanced software solutions across diverse sectors, including public administration, healthcare, manufacturing, logistics, energy, financial services, retail, and real estate. Trifork Labs, the Group’s R&D hub, drives innovation by investing in and developing synergistic and high-potential technology companies. Trifork Group AG is a publicly listed company on Nasdaq Copenhagen. Learn more at trifork.com.

    Attachment

    The MIL Network –

  • MIL-OSI: Key Tronic Corporation Announces Preliminary Results for the Second Quarter of Fiscal Year 2025

    Source: GlobeNewswire (MIL-OSI)

    SPOKANE VALLEY, Wash., Jan. 24, 2025 (GLOBE NEWSWIRE) — Key Tronic Corporation (Nasdaq: KTCC), a provider of electronic manufacturing services (EMS), today announced its preliminary results for the second quarter of fiscal year 2025 ending December 28, 2024.

    For the second quarter of fiscal year 2025, Key Tronic anticipates reporting revenue of approximately $114 million, and a net loss of approximately $0.40-$0.48 per share, both of which are below previous guidance. The lower than anticipated revenue and earnings for the second quarter of fiscal year 2025 are primarily due to the impact from unexpected component shortages, lower-than-expected production during the holiday season, and reduced demand from certain customers which together lowered revenue by approximately $15 million for the quarter. As previously announced, the Company also expects to report approximately $1.0 million in write-offs of unamortized loan fees related to refinancing its debt with a new lender.

    Key Tronic expects revenue and earnings to recover in the third quarter of fiscal year 2025 as strategic initiatives undertaken in previous quarters come to fruition. The Company is actively streamlining its international and domestic operations, with further headcount reductions to enhance efficiency, building on similar actions announced in the third quarter of fiscal year 2024. At the same time, Key Tronic continues to win new programs involving aerospace systems and energy resiliency technology products, which was announced in a separate press release on January 24, 2025, and has reduced inventories to be more in line with current revenue levels.

    For the third quarter of 2025, the Company expects to report revenue in the range of $115 million to $130 million and earnings in the range of $0.00 to $0.15 per diluted share.

    The revenue and earnings estimates for the second and third quarters of fiscal 2025, and the finalization of financial results for the second quarter of 2025, are subject to completion of the Company’s quarterly close and review procedures which are still ongoing. The Company plans to report its complete results and host its earnings conference call for the second quarter of fiscal 2025 on February 4, 2025. Details for the conference call have been announced in a separate press release.

    About Key Tronic

    Key Tronic is a leading contract manufacturer offering value-added design and manufacturing services from its facilities in the United States, Mexico, China and Vietnam. The Company provides its customers full engineering services, materials management, worldwide manufacturing facilities, assembly services, in-house testing, and worldwide distribution. Its customers include some of the world’s leading original equipment manufacturers. For more information about Key Tronic visit: http://www.keytronic.com.

    Forward-Looking Statements

    Some of the statements in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to those including such words as aims, anticipates, believes, continues, estimates, expects, hopes, intends, plans, predicts, projects, targets, will, or would, similar verbs, or nouns corresponding to such verbs, which may be forward looking. Forward-looking statements also include other passages that are relevant to expected future events, performances, and actions or that can only be fully evaluated by events that will occur in the future. Forward-looking statements in this release include, without limitation, the Company’s statements regarding its expectations with respect to financial conditions and results, including revenue and earnings, cost savings from headcount reduction and the Mexican Peso exchange rate, demand for certain products and the effectiveness of some of its programs, business from customers and programs, and impacts from operational streamlining and efficiencies, including reductions in inventories. There are many factors, risks and uncertainties that could cause actual results to differ materially from those predicted or projected in forward-looking statements, including but not limited to: the future of the global economic environment and its impact on our customers and suppliers; the availability of components from the supply chain; the availability of a healthy workforce; the accuracy of suppliers’ and customers’ forecasts; development and success of customers’ programs and products; timing and effectiveness of ramping of new programs; success of new-product introductions; the risk of legal proceedings or governmental investigations relating to the previously reported financial statement restatements and related material weaknesses, the May 2024 cybersecurity incident and the subject of the internal investigation by the Company’s Audit Committee and related or other unrelated matters; acquisitions or divestitures of operations or facilities; technology advances; changes in pricing policies by the Company, its competitors, customers or suppliers; impact of new governmental legislation and regulation, including tax reform, tariffs and related activities, such trade negotiations and other risks; and other factors, risks, and uncertainties detailed from time to time in the Company’s SEC filings.

         
    CONTACTS: Anthony G. Voorhees Michael Newman
      Chief Financial Officer Investor Relations
      Key Tronic Corporation StreetConnect
      (509) 927-5345 (206) 729-3625

    The MIL Network –

  • MIL-OSI: Key Tronic Corporation Announces Second Quarter Reporting Date

    Source: GlobeNewswire (MIL-OSI)

    SPOKANE VALLEY, Wash., Jan. 24, 2025 (GLOBE NEWSWIRE) — Key Tronic Corporation (Nasdaq: KTCC), announced today that it plans to report its results for the second quarter of fiscal 2025 after market close on February 4, 2025.

    Key Tronic will host a conference call to discuss its financial results at 2:00 PM Pacific (5:00 PM Eastern) on February 4, 2025. A broadcast of the conference call will be available at http://www.keytronic.com under “Investor Relations” or by calling 888-394-8218 or +1-313-209-4906 (Access Code: 2254355). A replay will be available at http://www.keytronic.com under “Investor Relations”.

    About Key Tronic

    Key Tronic is a leading contract manufacturer offering value-added design and manufacturing services from its facilities in the United States, Mexico, China and Vietnam. The Company provides its customers full engineering services, materials management, worldwide manufacturing facilities, assembly services, in-house testing, and worldwide distribution. Its customers include some of the world’s leading original equipment manufacturers. For more information about Key Tronic visit: http://www.keytronic.com.

    CONTACTS: Anthony G. Voorhees Michael Newman
      Chief Financial Officer Investor Relations
      Key Tronic Corporation StreetConnect
      (509) 927-5345 (206) 729-3625

    The MIL Network –

  • MIL-OSI: AvePoint Submits Application for Dual Listing on the Singapore Exchange

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, Jan. 24, 2025 (GLOBE NEWSWIRE) — AvePoint (Nasdaq: AVPT), the global leader in data security, governance, and resilience, has submitted an application to list its shares of common stock, par value $0.0001 per share (the “Shares”), on the Main Board of the Singapore Exchange Securities Trading Limited (the “SGX-ST”). The Company’s Shares currently trade on the Nasdaq Global Select Market, and if such application is approved would also trade on the SGX-ST. 

    “Our application to list AvePoint’s common stock on the Singapore Exchange – which would be in addition to our current and continuing listing on Nasdaq – aligns with our ongoing strategy to broaden our presence in the APAC region, where we have a long and successful track record,” said Dr. Tianyi Jiang (TJ), CEO and Co-Founder, AvePoint. “We established a presence in Singapore in 2009, and since then have fostered strong relationships with governmental organizations and corporations in the region; today, Singapore serves as our Asia headquarters and International R&D Hub. Finally, we believe that our consistent execution and strong financial performance, both globally and particularly in APAC, will make us attractive to APAC-focused investors seeking in-region high quality B2B SaaS opportunities.”

    No final decision or commitment has been made as to the timing, terms or conditions of any such listing on the SGX-ST, and the Company may decide to not proceed with an SGX-ST listing of its Shares.

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

    About AvePoint:

    Securing the Future. AvePoint is a global leader in data security, governance, and resilience, and over 21,000 customers worldwide rely on our solutions to modernize the digital workplace across Microsoft, Google, Salesforce and other collaboration environments. AvePoint’s global channel partner program includes over 3,500 managed service providers, value added resellers and systems integrators, with our solutions available in more than 100 cloud marketplaces. To learn more, visit http://www.avepoint.com.

    Forward-Looking Statements:

    This press release contains certain forward-looking statements within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and other federal securities laws including statements regarding the future performance of and market opportunities for AvePoint. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: changes in the competitive and regulated industries in which AvePoint operates, variations in operating performance across competitors, changes in laws and regulations affecting AvePoint’s business and changes in AvePoint’s ability to implement business plans, forecasts, and ability to identify and realize additional opportunities, and the risk of downturns in the market and the technology industry. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of AvePoint’s most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q. Copies of these and other documents filed by AvePoint from time to time are available on the SEC’s website, http://www.sec.gov. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and AvePoint does not assume any obligation and does not intend to update or revise these forward-looking statements after the date of this release, whether as a result of new information, future events, or otherwise, except as required by law. AvePoint does not give any assurance that it will achieve its expectations. Unless the context otherwise indicates, references in this press release to the terms “AvePoint”, “the Company”, “we”, “our” and “us” refer to AvePoint, Inc. and its subsidiaries.

    Disclosure Information:

    AvePoint uses the https://www.avepoint.com/ir website as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.

    Investor Contact
    AvePoint
    Jamie Arestia
    ir@avepoint.com
    (551) 220-5654

    Media Contact
    AvePoint
    Nicole Caci
    pr@avepoint.com
    (201) 201-8143

    The MIL Network –

  • MIL-OSI: Blockmate investee Hivello enters strategic partnership with AIxBlock for AI apps to access decentralised computing power

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Jan. 24, 2025 (GLOBE NEWSWIRE) — Blockmate Ventures Inc (TSX.V: MATE) (OTCQB: MATEF) (FSE: 8MH1) (“Blockmate” or the “Company”) is pleased to announce that its investee, Hivello Holdings Ltd has partnered with artificial intelligence development platform AIxBlock to integrate decentralized computing power into AI applications.

    AIxBlock operates at the intersection of artificial intelligence and Web3 technologies, offering a comprehensive development platform to build, train & deploy AI models that typically have high computing power requirements to function optimally. The AIxBlock ecosystem features an end-to-end AI development platform, a compute marketplace, dataset marketplace, and human resources for AI. These computing products cater to businesses and individuals transitioning into decentralized technologies.

    With the Hivello platform offering its users a passive income stream in exchange for their unutilised computing power, Hivello will extend these capabilities into the AIxBlock, enabling their users to leverage a substantial network of decentralized computing power.

    Justin Rosenberg, CEO of Blockmate Ventures, commented, “With the rise of AI, many of the most innovative apps require a substantial amount of computing power which can be costly to access via traditional data centres. But through this partnership, Hivello and AIxBlock aim to unlock new possibilities in both the decentralized computing space and AI space by providing developers an alternative to centralized data centres while giving Hivello users even more opportunities to rent out their unused computing power for passive income”.

    Below is the press release from Hivello:

    Hivello + AIxblock: Decentralized AI Meets Simplified Node Management

    London & Amsterdam, January 23, 2025 – Hivello, a platform simplifying decentralized node management for non-technical users, and AIxBlock, a fully decentralized AI development platform redefining the AI compute and dataset marketplace, have announced a strategic partnership.

    AIxBlock operates at the intersection of artificial intelligence and Web3 technologies, offering a comprehensive development platform to build, train & deploy AI models. With its foundation built on the Solana blockchain and its $1 million/year enterprise contract in place, AIxBlock is bridging the gap between traditional Web2 enterprises and the emerging Web3 landscape. Its ecosystem features an end-to-end AI development platform seamlessly integrated with decentralized resources, including a compute marketplace, dataset marketplace, and human resources for AI—catering to businesses and individuals transitioning into decentralized technologies.

    Hivello, on the other hand, has revolutionized the process of running decentralized nodes, making it simple and accessible to non-technical users. Hivello is targeting 100,000 users within the next year. By allowing individuals with spare computing resources to participate in decentralized infrastructure, Hivello empowers everyday users to contribute to DePIN (decentralized physical infrastructure networks) projects.

    Through this partnership, Hivello and AIxBlock aim to unlock new possibilities in the decentralized compute space by integrating their offerings. AIxBlock’s compute marketplace, which primarily relies on enterprise-level providers, could potentially incorporate Hivello’s decentralized compute power from individual GPU providers. This would enable a truly decentralized model, offering scalability, accessibility, and efficiency in AI compute solutions.

    As the two companies continue to explore integration possibilities and expand their shared vision, users and enterprises can look forward to a future where participation in AI and decentralized technologies is accessible to everyone—regardless of technical expertise.

    “AIxBlock is taking charge in transitioning AI-driven enterprises from Web2 to Web3, and we’re excited to collaborate with them on this journey,” said Domenic Carosa, Co-founder & Chairman of Hivello. “Our shared vision is to create a decentralized infrastructure that is accessible to all, bridging the gap between web3 and everyday users.”

    Ha Dao, CEO & Co-Founder AIxBlock, echoed the sentiment: “Hivello’s expertise in node management complements our vision of decentralizing AI compute power. Together, we can create an ecosystem that empowers individuals and businesses alike to contribute to and benefit from the Web3 economy.”

    About Blockmate Ventures Inc.

    Blockmate Ventures is a venture creator focussing on building fast growing technology businesses relating to cutting edge sectors such as blockchain, AI and renewable energy. Working with prospective founders, projects in incubation can benefit from the Blockmate ecosystem that offers tech, services, integrations and advice to accelerate the incubation of projects towards monetization. Recent projects include Hivello (download the free passive income app at http://www.hivello.com) and Sunified, digitising solar energy.

    The leadership team at Blockmate Ventures have successfully founded successful tech companies from the Dotcom era through to the social media era. Learn more about being a Blockmate at: http://www.blockmate.com.

    Blockmate welcomes investors to join the Company’s mailing list for the latest updates and industry research by subscribing at https://www.blockmate.com/subscribe.
    About Hivello
    Hivello is an aggregator of DePIN projects that allows any user to participate in a variety of DePIN networks with just a few clicks. This eliminates the technical hurdles that many users face when trying to join these networks, and allows users to generate an extra source of income by mobilizing their idle computers. We aim to create a simple app that allows users to contribute their computer resources with no technical knowledge required. It’s as easy as downloading, installing, and running nodes, making complex technologies accessible and beneficial to all.
    For more information about Hivello and to stay updated on its developments, visit http://www.hivello.com

    About Alxblock
    AIxBlock – End-to-end AI development platform that empowers AI businesses to build, fine-tune, and deploy models using decentralized resources—including compute, models, datasets, and human labelers. Unlike others, we allow users to self-host the platform on their own infrastructure in minutes, with no manual configuration required.

    ON BEHALF OF THE BOARD OF DIRECTORS

    Justin Rosenberg, CEO
    Blockmate Ventures Inc
    justin@blockmate.com
    (+1-580-262-6130)

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

    Forward-Looking Information
    This news release contains “forward-looking statements” or “forward-looking information” (collectively, “forward-looking statements”) within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on the assumptions, expectations, estimates and projections as of the date of this news release. Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied by forward-looking statements contained herein. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Raindrop disclaims any obligation to update any forward-looking statements, whether because of new information, future events or otherwise, except as may be required by applicable securities laws. Readers should not place undue reliance on forward-looking statements.

    The MIL Network –

  • MIL-OSI: Meridian Corporation Reports Fourth Quarter 2024 Results and Announces a Quarterly Dividend of $0.125 per Common Share

    Source: GlobeNewswire (MIL-OSI)

    MALVERN, Pa., Jan. 24, 2025 (GLOBE NEWSWIRE) — Meridian Corporation (Nasdaq: MRBK) today reported:

      Three Months Ended   Year Ended
    (Dollars in thousands, except per share data)(Unaudited) December 31,
    2024    		   September 30,
    2024    		   December 31,
    2024    		   December 31,
    2023
    Income:              
    Net income $ 5,601   $ 4,743   $ 16,346   $ 13,243
    Diluted earnings per common share $ 0.49   $ 0.42   $ 1.45   $ 1.16
    Pre-tax, pre-provision income(1) $ 11,168   $ 8,527   $ 33,186   $ 23,782
    (1) See Non-GAAP reconciliation in the Appendix              
                   
    • Net income for the quarter ended December 31, 2024 was $5.6 million, or $0.49 per diluted share and $16.3 million, or $1.45 per diluted share, for the year.
    • Pre-tax, pre-provision income1 for the quarter and the year were $11.2 million and $33.2 million, respectively.
    • Net interest margin was 3.29% for the fourth quarter of 2024, with a loan yield of 7.17%. Net interest margin was 3.16% with a loan yield of 7.28% for the year.
    • Return on average assets and return on average equity for the fourth quarter of 2024 were 0.92% and 13.01%, respectively, and 0.70% and 9.93% for the year.
    • During the quarter a net gain of $4.0 million was recognized on the sale of $6.6 million in residential mortgage loan servicing rights held at amortized cost and, a $317 thousand gain was recognized on the sale of a $1.7 million OREO property.
    • Fees and other disposal costs of $1.0 million, net, were recognized during the quarter for the early termination of the Blue Bell lease.
    • Total assets at December 31, 2024 were $2.4 billion, compared to $2.4 billion at September 30, 2024 and $2.2 billion at December 31, 2023.
    • Commercial loans, excluding leases, increased $34.8 million, or 2% for the quarter and $177.1 million, or 12% year over year.
    • Fourth quarter deposit growth was $26.4 million, or 1%, and $181.9 million, or 10% year over year.
    • Non-interest-bearing deposits were up $3.7 million or 2%, quarter over quarter, and $1.6 million or 1%, year over year.
    • On January 23, 2025, the Board of Directors declared a quarterly cash dividend of $0.125 per common share, payable February 18, 2025 to shareholders of record as of February 10, 2025.

    Christopher J. Annas, Chairman and CEO commented:

    Our fourth quarter earnings showed significant improvement from the third quarter, increasing by 18.1% to $5.6 million, or $0.49 per share. For the year, net income increased 23.4% to $16.3 million, and $1.45 per share. While we are pleased with the improvement, we are still working through the drastic rate shock brought on by the Fed, particularly in our net interest margin which is down 50 basis points from 2019 levels. The team is working diligently each day to return to historical spreads.

    Loan growth of 12% (minus planned lease paydowns) for 2024 was exceptional, and our three main lending groups all contributed. Commercial real estate is benefiting from a continued lack of homes for sale, and our C&I and SBA teams are winning client relationships with persistence and creative advisory. Legacy low fixed-rate loans often made it unprofitable for us to solicit business from prospects. Deposits were up nearly 10%, mostly from money market accounts that can be rate-adjusted anytime.

    The mortgage group had significant improvement, with a $4.1 million pre-tax income versus a large loss in 2023. The hard cuts we made in the cyclical slowdown have given us much operational leverage and allows us to pivot quickly based on market conditions. Part of the cuts included prepaying a major lease at a discount and allowing many operations personnel to work from home. The Philadelphia metro region is still very low in housing inventory, which stymied an even bigger improvement in our business.

    Our wealth segment had a banner year with pre-tax income nearly doubling to $2.4 million. Strong growth in assets under management along with better stock market returns were the big contributors. We will devote more resources to wealth in 2025 to leverage our brand and deepen relationships with our commercial customers for referrals.

    We are encouraged by the new administration and communications about reduced regulatory burdens and prospects for economic growth. Our regulatory costs are substantial and, quite frankly, make little sense for a bank our size that is not systemically significant. We are hopeful that new and broader thinking can help banks like Meridian to better serve their markets and produce better returns for shareholders.

    Select Condensed Financial Information

      As of or for the three months ended (Unaudited)
      December 31,
    2024    		   September 30,
    2024    		   June 30,
    2024    		   March 31,
    2024    		   December 31,
    2023
      (Dollars in thousands, except per share data)
    Income:                  
    Net income $ 5,601     $ 4,743     $ 3,326     $ 2,676     $ 571  
    Basic earnings per common share   0.50       0.43       0.30       0.24       0.05  
    Diluted earnings per common share   0.49       0.42       0.30       0.24       0.05  
    Net interest income   19,299       18,242       16,846       16,609       16,942  
                       
    Balance Sheet:                  
    Total assets $ 2,385,867     $ 2,387,721     $ 2,351,584     $ 2,292,923     $ 2,246,193  
    Loans, net of fees and costs   2,030,437       2,008,396       1,988,535       1,956,315       1,895,806  
    Total deposits   2,005,368       1,978,927       1,915,436       1,900,696       1,823,462  
    Non-interest bearing deposits   240,858       237,207       224,040       220,581       239,289  
    Stockholders’ equity   171,522       167,450       162,382       159,936       158,022  
                       
    Balance Sheet Average Balances:                  
    Total assets $ 2,434,270     $ 2,373,261     $ 2,319,295     $ 2,269,047     $ 2,219,340  
    Total interest earning assets   2,342,651       2,277,523       2,222,177       2,173,212       2,121,068  
    Loans, net of fees and costs   2,029,739       1,997,574       1,972,740       1,944,187       1,891,170  
    Total deposits   2,043,505       1,960,145       1,919,954       1,823,523       1,820,532  
    Non-interest bearing deposits   259,118       246,310       229,040       233,255       254,025  
    Stockholders’ equity   171,214       165,309       162,119       159,822       157,210  
                       
    Performance Ratios (Annualized):                  
    Return on average assets   0.92 %     0.80 %     0.58 %     0.47 %     0.10 %
    Return on average equity   13.01 %     11.41 %     8.25 %     6.73 %     1.44 %


    Income Statement –     Fourth Quarter 2024 Compared to Third Quarter 2024

    Fourth quarter net income increased $858 thousand, or 18.1%, to $5.6 million due to increased net interest income, combined with increased non-interest income which included a gain of $4.0 million on the sale of mortgage servicing rights, along with a $317 thousand gain on sale of a residential property included in other real estate owned. These increases were largely offset by a quarterly provision for credit losses that was higher by $1.3 million and an increase in non-interest expense of $865 thousand, or 4.2%, which was impacted by the early termination of the Blue Bell lease. Detailed explanations of the major categories of income and expense follow below.

    Net Interest income

    The rate/volume analysis table below analyzes dollar changes in the components of interest income and interest expense as they relate to the change in balances (volume) and the change in interest rates (rate) of tax-equivalent net interest income for the periods indicated and allocated by rate and volume. Changes in interest income and/or expense related to changes attributable to both volume and rate have been allocated proportionately based on the relationship of the absolute dollar amount of the change in each category.

      Three Months Ended                
    (dollars in thousands) December 31,
    2024    		   September 30,
    2024    		   $ Change   % Change   Change due
    to rate    		   Change due
    to volume
    Interest income:                      
    Cash and cash equivalents $ 801   $ 416   $ 385     92.5 %   $ (52 )   $ 437  
    Investment securities – taxable   1,684     1,480     204     13.8 %     124       80  
    Investment securities – tax exempt(1)   397     397     —     — %     5       (5 )
    Loans held for sale   565     766     (201 )   (26.2 )%     (49 )     (152 )
    Loans held for investment(1)   36,666     37,339     (673 )   (1.8 )%     (1,268 )     595  
    Total loans   37,231     38,105     (874 )   (2.3 )%     (1,317 )     443  
    Total interest income $ 40,113   $ 40,398   $ (285 )   (0.7 )%   $ (1,240 )   $ 955  
    Interest expense:                      
    Interest-bearing demand deposits $ 1,244   $ 1,390   $ (146 )   (10.5 )%   $ (234 )   $ 88  
    Money market and savings deposits   8,266     8,391     (125 )   (1.5 )%     (934 )     809  
    Time deposits   8,831     9,532     (701 )   (7.4 )%     (465 )     (236 )
    Total interest – bearing deposits   18,341     19,313     (972 )   (5.0 )%     (1,633 )     661  
    Borrowings   1,608     1,985     (377 )   (19.0 )%     (10 )     (367 )
    Subordinated debentures   780     779     1     0.1 %     —       1  
    Total interest expense   20,729     22,077     (1,348 )   (6.1 )%     (1,643 )     295  
    Net interest income differential $ 19,384   $ 18,321   $ 1,063     5.80 %   $ 403     $ 660  
    (1) Reflected on a tax-equivalent basis.                    

    Interest income decreased $285 thousand quarter-over-quarter on a tax equivalent basis, driven by rate changes, particularly in the loan portfolio. The overall yield on earnings assets decreased 25 basis points during the period, impacting interest income by $1.2 million. This decrease was significantly offset by favorable volume changes as the level of average earning assets increased by $65.1 million contributing $955 thousand to lessen the interest income decrease.

    Average total loans, excluding residential loans for sale, increased $32.5 million resulting in an increase due to volume in interest income of $595 thousand. The largest drivers of this increase were commercial, commercial real estate, and small business loans which on a combined basis increased $40.4 million on average, partially offset by a decrease in average leases of $11.4 million. Home equity, residential real estate, consumer and other loans held in portfolio increased on a combined basis $3.2 million on average. The yield on total loans decreased 24 basis points, and the yield on cash and investments increased 6 basis points on a combined basis.

    Total interest expense decreased $1.3 million, quarter-over-quarter, due to a lower volume of time deposits and borrowings, combined with a decrease in the cost of all deposit types, despite a higher level of interest-bearing and money market deposits. Interest expense on total deposits decreased $972 thousand and interest expense on borrowings decreased $377 thousand. During the period, interest-bearing deposits and money market accounts increased $8.8 million and $81.4 million on average, respectively, while time deposits decreased $19.7 million on average. Borrowings decreased $29.7 million on average. Overall increase in interest expense on deposits due to volume changes was $661 thousand.

    The cost of interest-bearing deposits decreased 35 basis points driven by certain money market funds and wholesale time deposits which repriced at lower costs. The total decrease in interest expense on deposits attributable to rate changes was $1.6 million. Overall the net interest margin increased 9 basis points to 3.29% as the cost of funds decline outpaced the decline in yield on earning assets, and non-interest bearing balances increased $14.2 million on average.

    Provision for Credit Losses

    The overall provision for credit losses for the fourth quarter increased $1.3 million to $3.6 million, from $2.3 million in the third quarter. The provision for funded loans increased $1.6 million and the provision on unfunded loan commitments decreased $331 thousand during the current quarter. The fourth quarter provision for funded loans of $3.6 million increased from the prior quarter due largely to an increase of $5.0 million in net charge-offs and was positively impacted by favorable changes in certain portfolio baseline loss rates.

    Non-interest income

    The following table presents the components of non-interest income for the periods indicated:

      Three Months Ended        
    (Dollars in thousands) December 31,
    2024    		   September 30,
    2024    		   $ Change   % Change
    Mortgage banking income $ 5,516     $ 6,474     $ (958 )   (14.8 )%
    Wealth management income   1,527       1,447       80     5.5 %
    SBA loan income   1,143       544       599     110.1 %
    Earnings on investment in life insurance   224       222       2     0.9 %
    Gain on sale of MSRs   3,992       —       3,992     100.0 %
    Net change in the fair value of derivative instruments   (146 )     (102 )     (44 )   43.1 %
    Net change in the fair value of loans held-for-sale   (163 )     169       (332 )   (196.4 )%
    Net change in the fair value of loans held-for-investment   (552 )     965       (1,517 )   (157.2 )%
    Net (loss) gain on hedging activity   192       (197 )     389     (197.5 )%
    Net loss on sale of investment securities available-for-sale   2       (57 )     59     (103.5 )%
    Other   1,545       1,366       179     13.1 %
    Total non-interest income $ 13,280     $ 10,831     $ 2,449     22.6 %

    Total non-interest income increased $2.4 million, or 22.6%, quarter-over-quarter after recognizing a gain of $4.0 million on the sale of $6.6 million in residential mortgage loan servicing rights; change in gains of $389 thousand in hedging activity; and a $317 thousand gain on the sale of a $1.7 million residential OREO property, which is recorded in other non-interest income. In addition, SBA income increased $599 thousand due largely to a higher level of SBA loan sales. SBA loans sold for the quarter-ended December 31, 2024 totaled $19.9 million, up $8.0 million, or 67.4%, compared to the quarter-ended September 30, 2024. The gross margin on SBA sales was 7.5% for the quarter, down from 7.9% for the previous quarter. These gains were partially offset by unfavorable portfolio fair value changes of $1.9 million combined, and lower levels of mortgage banking income, which decreased $1.0 million, or 14.8%. Mortgage loan sales decreased $29.8 million or 12.1% quarter over quarter driving lower gain on sale income at a slightly lower margin.

    Non-interest expense

    The following table presents the components of non-interest expense for the periods indicated:

      Three Months Ended        
    (Dollars in thousands) December 31,
    2024    		   September 30,
    2024    		   $ Change   % Change
    Salaries and employee benefits $ 12,429   $ 12,829   $ (400 )   (3.1 )%
    Occupancy and equipment   2,270     1,243     1,027     82.6 %
    Professional fees   1,134     1,106     28     2.5 %
    Data processing and software   1,553     1,553     —     — %
    Advertising and promotion   839     717     122     17.0 %
    Pennsylvania bank shares tax   243     181     62     34.3 %
    Other   2,943     2,917     26     0.9 %
    Total non-interest expense $ 21,411   $ 20,546   $ 865     4.2 %

    Occupancy and equipment expense increased $1.0 million, net, due to fees, credits and other disposal costs for the early termination of the Blue Bell lease. The lease termination is expected to improve occupancy expense by $359 thousand per year. Advertising and promotion, which includes business development with other expenses, were up $148 thousand due to seasonal events. These increases were partially offset by a decrease in salaries and benefits of $400 thousand. Bank and wealth segments combined increased $5 thousand, while the mortgage segment decreased $405 thousand. Mortgage segment salaries, commissions, and employee benefits expense are impacted by volume and decreased commensurate with the lower levels of originations, which were down $36.1 million over the prior quarter.

    Balance Sheet – December 31, 2024 Compared to September 30, 2024

    Total assets decreased $1.9 million, or 0.1%, to $2.4 billion as of December 31, 2024 from $2.4 billion at September 30, 2024. Despite continued strong loan growth during the quarter, total assets decreased due to the decline in mortgage loans held for sale and the sale of mortgage servicing rights. Interest-bearing cash increased $2.1 million, or 10.4%, to $21.9 million as of December 31, 2024, from September 30, 2024.

    Portfolio loan growth was $22.8 million, or 1.1% quarter-over-quarter. The portfolio growth was generated from commercial mortgage loans which increased $23.0 million, or 2.9%, construction loans which increased $9.0 million, or 3.6%, commercial & industrial loans which increased $3.5 million, or 1.0%. Lease financings decreased $10.7 million, or 12.4% from September 30, 2024, partially offsetting the above noted loan growth, but this decline was expected as we continue to refocus away from lease originations.

    Total deposits increased $26.4 million, or 1.3% quarter-over-quarter, due largely to higher levels of money market accounts and interest bearing demand deposits to a lesser degree. Money market accounts and savings accounts increased a combined $90.7 million, while interest bearing demand deposits increased $8.0 million. Time deposits decreased $75.9 million from largely wholesale efforts. Non-interest bearing deposits increased $3.7 million. Overall borrowings decreased $20.4 million, or 14.1% quarter-over-quarter.

    Total stockholders’ equity increased by $4.1 million from September 30, 2024, to $171.5 million as of December 31, 2024. Changes to equity for the current quarter included net income of $5.6 million, less dividends paid of $1.4 million, offset by a decrease of $876 thousand in other comprehensive income. The Community Bank Leverage Ratio for the Bank was 9.21% at December 31, 2024.

    Asset Quality Summary

    Non-performing loans decreased $18 thousand to $45.1 million at December 31, 2024 compared to $45.1 million at September 30, 2024. As a result of the decrease, the ratio of non-performing loans to total loans decreased 1 bps to 2.19% as of December 31, 2024, from 2.20% as of September 30, 2024. During the quarter a $1.7 million residential property in OREO was sold, reducing non-performing assets by $1.7 million. As a result, the ratio of non-performing assets to total assets decreased 7 bps to 1.90% as of December 31, 2024, compared to 1.97% as of September 30, 2024. The decrease in non-performing loans was primarily due to the partial charge-off of a commercial loan relationship discussed below, largely offset by an increase in non-performing construction loans.

    Meridian realized net charge-offs of 0.34% of total average loans for the quarter ended December 31, 2024, up from 0.11% for the quarter ended September 30, 2024. Net charge-offs increased to $7.1 million for the quarter ended December 31, 2024, compared to net charge-offs of $2.3 million for the quarter ended September 30, 2024. Fourth quarter charge-offs consisted of $3.5 million in charge-offs on a protracted commercial advertising loan relationship, $1.3 million of small ticket equipment leases which are charged-off after becoming more than 120 days past due, and $1.7 million in SBA loans. Overall there were recoveries of $315 thousand, largely related to leases and small business loans.

    The ratio of allowance for credit losses to total loans held for investment, excluding loans at fair value (a non-GAAP measure, see reconciliation in the Appendix), was 0.91% as of December 31, 2024, a decrease from the coverage ratio of 1.10% as of September 30, 2024 due largely to the level of charge-offs in the quarter discussed above. As of December 31, 2024 there were specific reserves of $2.7 million against individually evaluated loans, a decrease of $4.1 million from $6.8 million in specific reserves as of September 30, 2024. The specific reserve decline over the prior quarter was the result of the commercial loan relationship specific reserve charge-off, combined with specific reserve charge-offs on SBA loans, while new specific reserves were established on additional SBA loans in the current quarter.

    About Meridian Corporation

    Meridian Bank, the wholly owned subsidiary of Meridian Corporation, is an innovative community bank serving Pennsylvania, New Jersey, Delaware and Maryland. Through its 18 offices, including banking branches and mortgage locations, Meridian offers a full suite of financial products and services. Meridian specializes in business and industrial lending, retail and commercial real estate lending, electronic payments, and wealth management solutions through Meridian Wealth Partners. Meridian also offers a broad menu of high-yield depository products supported by robust online and mobile access. For additional information, visit our website at http://www.meridianbanker.com. Member FDIC.

    “Safe Harbor” Statement

    In addition to historical information, this press release may contain “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements with respect to Meridian Corporation’s strategies, goals, beliefs, expectations, estimates, intentions, capital raising efforts, financial condition and results of operations, future performance and business. Statements preceded by, followed by, or that include the words “may,” “could,” “should,” “pro forma,” “looking forward,” “would,” “believe,” “expect,” “anticipate,” “estimate,” “intend,” “plan,” or similar expressions generally indicate a forward-looking statement. These forward-looking statements involve risks and uncertainties that are subject to change based on various important factors (some of which, in whole or in part, are beyond Meridian Corporation’s control). Numerous competitive, economic, regulatory, legal and technological factors, risks and uncertainties that could cause actual results to differ materially include, without limitation, credit losses and the credit risk of our commercial and consumer loan products; changes in the level of charge-offs and changes in estimates of the adequacy of the allowance for credit losses, or ACL; cyber-security concerns; rapid technological developments and changes; increased competitive pressures; changes in spreads on interest-earning assets and interest-bearing liabilities; changes in general economic conditions and conditions within the securities markets; unanticipated changes in our liquidity position; unanticipated changes in regulatory and governmental policies impacting interest rates and financial markets; legislation affecting the financial services industry as a whole, and Meridian Corporation, in particular; changes in accounting policies, practices or guidance; developments affecting the industry and the soundness of financial institutions and further disruption to the economy and U.S. banking system; among others, could cause Meridian Corporation’s financial performance to differ materially from the goals, plans, objectives, intentions and expectations expressed in such forward-looking statements. Meridian Corporation cautions that the foregoing factors are not exclusive, and neither such factors nor any such forward-looking statement takes into account the impact of any future events. All forward-looking statements and information set forth herein are based on management’s current beliefs and assumptions as of the date hereof and speak only as of the date they are made. For a more complete discussion of the assumptions, risks and uncertainties related to our business, you are encouraged to review Meridian Corporation’s filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2023 and subsequently filed quarterly reports on Form 10-Q and current reports on Form 8-K that update or provide information in addition to the information included in the Form 10-K and Form 10-Q filings, if any. Meridian Corporation does not undertake to update any forward-looking statement whether written or oral, that may be made from time to time by Meridian Corporation or by or on behalf of Meridian Bank.

    MERIDIAN CORPORATION AND SUBSIDIARIES
    FINANCIAL RATIOS (Unaudited)
    (Dollar amounts and shares in thousands, except per share amounts)
      Three Months Ended
      December 31,
    2024    		   September 30,
    2024    		   June 30,
    2024    		   March 31,
    2024    		   December 31,
    2023
    Earnings and Per Share Data:                  
    Net income $ 5,601     $ 4,743     $ 3,326     $ 2,676     $ 571  
    Basic earnings per common share $ 0.50     $ 0.43     $ 0.30     $ 0.24     $ 0.05  
    Diluted earnings per common share $ 0.49     $ 0.42     $ 0.30     $ 0.24     $ 0.05  
    Common shares outstanding   11,240       11,229       11,191       11,186       11,183  
                       
    Performance Ratios:                  
    Return on average assets(2)   0.92 %     0.80 %     0.58 %     0.47 %     0.10 %
    Return on average equity(2)   13.01       11.41       8.25       6.73       1.44  
    Net interest margin (tax-equivalent)(2)   3.29       3.20       3.06       3.09       3.18  
    Yield on earning assets (tax-equivalent)(2)   6.81       7.06       6.98       6.90       6.81  
    Cost of funds(2)   3.71       4.05       4.10       4.00       3.81  
    Efficiency ratio   65.72 %     70.67 %     72.89 %     73.90 %     78.63 %
                       
    Asset Quality Ratios:                  
    Net charge-offs (recoveries) to average loans   0.34 %     0.11 %     0.20 %     0.12 %     0.11 %
    Non-performing loans to total loans   2.19       2.20       1.84       1.93       1.76  
    Non-performing assets to total assets   1.90       1.97       1.68       1.74       1.58  
    Allowance for credit losses to:                  
    Total loans and other finance receivables   0.91       1.09       1.09       1.18       1.17  
    Total loans and other finance receivables (excluding loans at fair value)(1)   0.91       1.10       1.10       1.19       1.17  
    Non-performing loans   40.86 %     48.66 %     57.66 %     60.59 %     65.48 %
                       
    Capital Ratios:                  
    Book value per common share $ 15.26     $ 14.91     $ 14.51     $ 14.30     $ 14.13  
    Tangible book value per common share $ 14.93     $ 14.58     $ 14.17     $ 13.96     $ 13.78  
    Total equity/Total assets   7.19 %     7.01 %     6.91 %     6.98 %     7.04 %
    Tangible common equity/Tangible assets – Corporation(1)   7.05       6.87       6.76       6.82       6.87  
    Tangible common equity/Tangible assets – Bank(1)   9.06       8.95       8.85       8.93       8.94  
    Tier 1 leverage ratio – Bank   9.21       9.32       9.33       9.42       9.46  
    Common tier 1 risk-based capital ratio – Bank   10.33       10.17       9.84       9.87       10.10  
    Tier 1 risk-based capital ratio – Bank   10.33       10.17       9.84       9.87       10.10  
    Total risk-based capital ratio – Bank   11.20 %     11.22 %     10.84 %     10.95 %     11.17 %
    (1) See Non-GAAP reconciliation in the Appendix                
    (2) Annualized                  
    MERIDIAN CORPORATION AND SUBSIDIARIES
    CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited)
    (Dollar amounts and shares in thousands, except per share amounts)
      Three Months Ended   Year Ended
      December 31,
    2024    		   September 30,
    2024    		   December 31,
    2023    		   December 31,
    2024    		   December 31,
    2023
    Interest income:                  
    Loans and other finance receivables, including fees $ 37,229     $ 38,103     $ 34,469     $ 147,157     $ 130,081  
    Securities – taxable   1,684       1,480       1,020       5,739       3,873  
    Securities – tax-exempt   314       320       331       1,283       1,369  
    Cash and cash equivalents   801       416       526       1,848       1,266  
    Total interest income   40,028       40,319       36,346       156,027       136,589  
    Interest expense:                  
    Deposits   18,341       19,313       16,806       74,037       57,819  
    Borrowings and subordinated debentures   2,388       2,764       2,598       10,994       9,828  
    Total interest expense   20,729       22,077       19,404       85,031       67,647  
    Net interest income   19,299       18,242       16,942       70,996       68,942  
    Provision for credit losses   3,572       2,282       4,628       11,400       6,815  
    Net interest income after provision for credit losses   15,727       15,960       12,314       59,596       62,127  
    Non-interest income:                  
    Mortgage banking income   5,516       6,474       3,394       21,044       16,537  
    Wealth management income   1,527       1,447       1,239       5,735       4,928  
    SBA loan income   1,143       544       1,022       3,458       4,485  
    Earnings on investment in life insurance   224       222       204       868       789  
    Gain on sale of MSRs   3,992       —       —       3,992       —  
    Net change in the fair value of derivative instruments   (146 )     (102 )     (126 )     30       91  
    Net change in the fair value of loans held-for-sale   (163 )     169       120       (25 )     32  
    Net change in the fair value of loans held-for-investment   (552 )     965       805       214       132  
    Net (loss) gain on hedging activity   192       (197 )     (53 )     (87 )     28  
    Net loss on sale of investment securities available-for-sale   2       (57 )     —       (55 )     (58 )
    Other   1,545       1,366       1,512       6,166       5,001  
    Total non-interest income   13,280       10,831       8,117       41,339       31,965  
    Non-interest expense:                  
    Salaries and employee benefits   12,429       12,829       11,744       47,268       47,377  
    Occupancy and equipment   2,270       1,243       1,232       5,976       4,842  
    Professional fees   1,134       1,106       1,382       4,767       4,312  
    Data processing and software   1,553       1,553       1,651       6,144       6,415  
    Advertising and promotion   839       717       931       3,293       3,730  
    Pennsylvania bank shares tax   243       181       233       972       968  
    Other   2,943       2,917       2,530       10,729       9,481  
    Total non-interest expense   21,411       20,546       19,703       79,149       77,125  
    Income before income taxes   7,596       6,245       728       21,786       16,967  
    Income tax expense   1,995       1,502       157       5,440       3,724  
    Net income $ 5,601     $ 4,743     $ 571     $ 16,346     $ 13,243  
                       
    Basic earnings per common share $ 0.50     $ 0.43     $ 0.05     $ 1.47     $ 1.19  
    Diluted earnings per common share $ 0.49     $ 0.42     $ 0.05     $ 1.45     $ 1.16  
                       
    Basic weighted average shares outstanding   11,158       11,110       11,070       11,113       11,115  
    Diluted weighted average shares outstanding   11,375       11,234       11,206       11,243       11,387  
    MERIDIAN CORPORATION AND SUBSIDIARIES
    CONDENSED CONSOLIDATED STATEMENTS OF CONDITION (Unaudited)
    (Dollar amounts and shares in thousands, except per share amounts)
      December 31,
    2024    		   September 30,
    2024    		   June 30,
    2024    		   March 31,
    2024    		   December 31,
    2023
    Assets:                  
    Cash and due from banks $ 5,598     $ 12,542     $ 8,457     $ 8,935     $ 10,067  
    Interest-bearing deposits at other banks   21,864       19,805       15,601       14,092       46,630  
    Cash and cash equivalents   27,462       32,347       24,058       23,027       56,697  
    Securities available-for-sale, at fair value   174,304       171,568       159,141       150,996       146,019  
    Securities held-to-maturity, at amortized cost   33,771       33,833       35,089       35,157       35,781  
    Equity investments   2,086       2,166       2,088       2,092       2,121  
    Mortgage loans held for sale, at fair value   32,413       46,602       54,278       29,124       24,816  
    Loans and other finance receivables, net of fees and costs   2,030,437       2,008,396       1,988,535       1,956,315       1,895,806  
    Allowance for credit losses   (18,438 )     (21,965 )     (21,703 )     (23,171 )     (22,107 )
    Loans and other finance receivables, net of the allowance for credit losses   2,011,999       1,986,431       1,966,832       1,933,144       1,873,699  
    Restricted investment in bank stock   7,753       8,542       10,044       8,560       8,072  
    Bank premises and equipment, net   12,151       12,807       13,114       13,451       13,557  
    Bank owned life insurance   29,712       29,489       29,267       29,051       28,844  
    Accrued interest receivable   9,958       10,012       9,973       9,864       9,325  
    Other real estate owned   159       1,862       1,862       1,703       1,703  
    Deferred income taxes   4,669       3,537       3,950       4,339       4,201  
    Servicing assets   4,382       4,364       11,341       11,573       11,748  
    Servicing assets held for sale   —       6,609       —       —       —  
    Goodwill   899       899       899       899       899  
    Intangible assets   2,767       2,818       2,869       2,920       2,971  
    Other assets   31,382       33,835       26,779       37,023       25,740  
    Total assets $ 2,385,867     $ 2,387,721     $ 2,351,584     $ 2,292,923     $ 2,246,193  
                       
    Liabilities:                  
    Deposits:                  
    Non-interest bearing $ 240,858     $ 237,207     $ 224,040     $ 220,581     $ 239,289  
    Interest bearing                  
    Interest checking   141,439       133,429       130,062       121,204       150,898  
    Money market and savings deposits   913,536       822,837       787,479       797,525       747,803  
    Time deposits   709,535       785,454       773,855       761,386       685,472  
    Total interest-bearing deposits   1,764,510       1,741,720       1,691,396       1,680,115       1,584,173  
    Total deposits   2,005,368       1,978,927       1,915,436       1,900,696       1,823,462  
    Borrowings   124,471       144,880       187,260       145,803       174,896  
    Subordinated debentures   49,743       49,928       49,897       49,867       49,836  
    Accrued interest payable   6,860       7,017       7,709       8,350       10,324  
    Other liabilities   27,903       39,519       28,900       28,271       29,653  
    Total liabilities   2,214,345       2,220,271       2,189,202       2,132,987       2,088,171  
                       
    Stockholders’ equity:                  
    Common stock   13,243       13,232       13,194       13,189       13,186  
    Surplus   81,545       81,002       80,639       80,487       80,325  
    Treasury stock   (26,079 )     (26,079 )     (26,079 )     (26,079 )     (26,079 )
    Unearned common stock held by employee stock ownership plan   (1,006 )     (1,204 )     (1,204 )     (1,204 )     (1,204 )
    Retained earnings   111,961       107,765       104,420       102,492       101,216  
    Accumulated other comprehensive loss   (8,142 )     (7,266 )     (8,588 )     (8,949 )     (9,422 )
    Total stockholders’ equity   171,522       167,450       162,382       159,936       158,022  
    Total liabilities and stockholders’ equity $ 2,385,867     $ 2,387,721     $ 2,351,584     $ 2,292,923     $ 2,246,193  
    MERIDIAN CORPORATION AND SUBSIDIARIES
    CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND SEGMENT INFORMATION (Unaudited)
    (Dollar amounts and shares in thousands, except per share amounts)
      Three Months Ended
      December 31,
    2024    		   September 30,
    2024    		   June 30,
    2024    		   March 31,
    2024    		   December 31,
    2023
    Interest income $ 40,028   $ 40,319   $ 38,465   $ 37,215   $ 36,346
    Interest expense   20,729     22,077     21,619     20,606     19,404
    Net interest income   19,299     18,242     16,846     16,609     16,942
    Provision for credit losses   3,572     2,282     2,680     2,866     4,628
    Non-interest income   13,280     10,831     9,244     7,984     8,117
    Non-interest expense   21,411     20,546     19,018     18,174     19,703
    Income before income tax expense   7,596     6,245     4,392     3,553     728
    Income tax expense   1,995     1,502     1,066     877     157
    Net Income $ 5,601   $ 4,743   $ 3,326   $ 2,676   $ 571
                       
    Basic weighted average shares outstanding   11,158     11,110     11,096     11,088     11,070
    Basic earnings per common share $ 0.50   $ 0.43   $ 0.30   $ 0.24   $ 0.05
                       
    Diluted weighted average shares outstanding   11,375     11,234     11,150     11,201     11,206
    Diluted earnings per common share $ 0.49   $ 0.42   $ 0.30   $ 0.24   $ 0.05
      Segment Information
      Three Months Ended December 31, 2024   Three Months Ended December 31, 2023
    (dollars in thousands) Bank   Wealth   Mortgage   Total   Bank   Wealth   Mortgage   Total
    Net interest income $ 19,178     $ 70     $ 51     $ 19,299     $ 16,908     $ (15 )   $ 49     $ 16,942  
    Provision for credit losses   3,572       —       —       3,572       4,628       —       —       4,628  
    Net interest income after provision   15,606       70       51       15,727       12,280       (15 )     49       12,314  
    Non-interest income   2,669       1,527       9,084       13,280       2,051       1,239       4,827       8,117  
    Non-interest expense   13,641       1,026       6,744       21,411       13,202       957       5,544       19,703  
    Income (loss) before income taxes $ 4,634     $ 571     $ 2,391     $ 7,596     $ 1,129     $ 267     $ (668 )   $ 728  
    Efficiency ratio   62 %     64 %     74 %     66 %     70 %     78 %     114 %     79 %
                                   
      Year Ended December 31, 2024   Year Ended December 31, 2023
    (dollars in thousands) Bank   Wealth   Mortgage   Total   Bank   Wealth   Mortgage   Total
    Net interest income $ 70,706     $ 146     $ 144     $ 70,996     $ 68,835     $ (27 )   $ 134     $ 68,942  
    Provision for credit losses   11,400       —       —       11,400       6,815       —       —       6,815  
    Net interest income after provision   59,306       146       144       59,596       62,020       (27 )     134       62,127  
    Non-interest income   7,576       5,735       28,028       41,339       7,743       4,928       19,294       31,965  
    Non-interest expense   51,584       3,506       24,059       79,149       48,827       3,661       24,637       77,125  
    Income (loss) before income taxes $ 15,298     $ 2,375     $ 4,113     $ 21,786     $ 20,936     $ 1,240     $ (5,209 )   $ 16,967  
    Efficiency ratio   66 %     60 %     85 %     70 %     64 %     75 %     127 %     76 %
                                   

    MERIDIAN CORPORATION AND SUBSIDIARIES
    APPENDIX: NON-GAAP MEASURES (Unaudited)
    (Dollar amounts and shares in thousands, except per share amounts)

    Meridian believes that non-GAAP measures are meaningful because they reflect adjustments commonly made by management, investors, regulators and analysts. The non-GAAP disclosure have limitations as an analytical tool, should not be viewed as a substitute for performance and financial condition measures determined in accordance with GAAP, and should not be considered in isolation or as a substitute for analysis of Meridian’s results as reported under GAAP, nor is it necessarily comparable to non-GAAP performance measures that may be presented by other companies.

      Pre-tax, Pre-provision Reconciliation
      Three Months Ended   Year Ended
    (Dollars in thousands, except per share data, Unaudited) December 31,
    2024    		   September 30,
    2024    		   December 31,
    2023    		   December 31,
    2024    		   December 31,
    2023
    Income before income tax expense $ 7,596   $ 6,245   $ 728   $ 21,786   $ 16,967
    Provision for credit losses   3,572     2,282     4,628     11,400     6,815
    Pre-tax, pre-provision income $ 11,168   $ 8,527   $ 5,356   $ 33,186   $ 23,782
      Pre-tax, Pre-provision Reconciliation
      Three Months Ended   Year Ended
    (Dollars in thousands, except per share data, Unaudited) December 31,
    2024    		   September 30,
    2024    		   December 31,
    2023    		   December 31,
    2024    		   December 31,
    2023
    Bank $ 8,206   $ 6,222   $ 5,757     $ 26,698   $ 27,751  
    Wealth   571     653     267       2,375     1,240  
    Mortgage   2,391     1,652     (668 )     4,113     (5,209 )
    Pre-tax, pre-provision income $ 11,168   $ 8,527   $ 5,356     $ 33,186   $ 23,782  
      Allowance For Credit Losses (ACL) to Loans and Other Finance Receivables, Excluding and Loans at Fair Value
      December 31,
    2024    		   September 30,
    2024    		   June 30,
    2024    		   March 31,
    2024    		   December 31,
    2023
    Allowance for credit losses (GAAP) $ 18,438     $ 21,965     $ 21,703     $ 23,171     $ 22,107  
                       
    Loans and other finance receivables (GAAP)   2,030,437       2,008,396       1,988,535       1,956,315       1,895,806  
    Less: Loans at fair value   (14,501 )     (13,965 )     (12,900 )     (13,139 )     (13,726 )
    Loans and other finance receivables, excluding loans at fair value (non-GAAP) $ 2,015,936     $ 1,994,431     $ 1,975,635     $ 1,943,176     $ 1,882,080  
                       
    ACL to loans and other finance receivables (GAAP)   0.91 %     1.09 %     1.09 %     1.18 %     1.17 %
    ACL to loans and other finance receivables, excluding loans at fair value (non-GAAP)   0.91 %     1.10 %     1.10 %     1.19 %     1.17 %
      Tangible Common Equity Ratio Reconciliation – Corporation
      December 31,
    2024    		   September 30,
    2024    		   June 30,
    2024    		   March 31,
    2024    		   December 31,
    2023
    Total stockholders’ equity (GAAP) $ 171,522     $ 167,450     $ 162,382     $ 159,936     $ 158,022  
    Less: Goodwill and intangible assets   (3,666 )     (3,717 )     (3,768 )     (3,819 )     (3,870 )
    Tangible common equity (non-GAAP)   167,856       163,733       158,614       156,117       154,152  
                       
    Total assets (GAAP)   2,385,867       2,387,721       2,351,584       2,292,923       2,246,193  
    Less: Goodwill and intangible assets   (3,666 )     (3,717 )     (3,768 )     (3,819 )     (3,870 )
    Tangible assets (non-GAAP) $ 2,382,201     $ 2,384,004     $ 2,347,816     $ 2,289,104     $ 2,242,323  
    Tangible common equity to tangible assets ratio – Corporation (non-GAAP)   7.05 %     6.87 %     6.76 %     6.82 %     6.87 %
      Tangible Common Equity Ratio Reconciliation – Bank
      December 31,
    2024    		   September 30,
    2024    		   June 30,
    2024    		   March 31,
    2024    		   December 31,
    2023
    Total stockholders’ equity (GAAP) $ 219,119     $ 217,028     $ 211,308     $ 208,319     $ 204,132  
    Less: Goodwill and intangible assets   (3,666 )     (3,717 )     (3,768 )     (3,819 )     (3,870 )
    Tangible common equity (non-GAAP)   215,453       213,311       207,540       204,500       200,262  
                       
    Total assets (GAAP)   2,382,014       2,385,994       2,349,600       2,292,894       2,244,893  
    Less: Goodwill and intangible assets   (3,666 )     (3,717 )     (3,768 )     (3,819 )     (3,870 )
    Tangible assets (non-GAAP) $ 2,378,348     $ 2,382,277     $ 2,345,832     $ 2,289,075     $ 2,241,023  
    Tangible common equity to tangible assets ratio – Bank (non-GAAP)   9.06 %     8.95 %     8.85 %     8.93 %     8.94 %
                       
                       
      Tangible Book Value Reconciliation
      December 31,
    2024    		   September 30,
    2024    		   June 30,
    2024    		   March 31,
    2024    		   December 31,
    2023
    Book value per common share $ 15.26     $ 14.91     $ 14.51     $ 14.30     $ 14.13  
    Less: Impact of goodwill /intangible assets   0.33       0.33       0.34       0.34       0.35  
    Tangible book value per common share $ 14.93     $ 14.58     $ 14.17     $ 13.96     $ 13.78  

    Contact:
    Christopher J. Annas
    484.568.5001
    CAnnas@meridianbanker.com

    The MIL Network –

  • MIL-OSI: MKS Instruments Completes Repricing on its Secured Term Loan B USD and EUR Tranches and Makes a $100 Million Voluntary Prepayment on its Secured Term Loan B USD

    Source: GlobeNewswire (MIL-OSI)

    ANDOVER, Mass., Jan. 24, 2025 (GLOBE NEWSWIRE) — MKS Instruments, Inc. (NASDAQ: MKSI), a global provider of enabling technologies that transform our world, announced today that it successfully completed the repricing of its $2.5 billion and €0.6 billion secured tranche B term loans maturing in 2029. The repricing results in a reduction of the interest rate for the USD tranche B term loans from SOFR plus a margin of 225 basis points to SOFR plus 200 basis points and EUR tranche B term loans from EURIBOR plus a margin of 275 basis points to EURIBOR plus 250 basis points.

    In addition, concurrently with the repricing, MKS made a voluntary prepayment of $100 million on its USD tranche B term loans, reducing the principal amount of USD tranche B term loans from $2.6 billion to $2.5 billion.

    Based on the current interest rates, the annualized cash interest savings from the combined actions is approximately $15 million.

    “We continue to demonstrate our commitment to deleveraging our balance sheet,” said Ram Mayampurath, Executive Vice President, Chief Financial Officer and Treasurer. “Our latest term loan B repricing is one of many actions taken over the last 18 months to proactively seek opportunities to reduce costs and maximize free cash flow to repay debt.”

    JPMorgan Chase Bank, N.A., Barclays Bank PLC, BofA Securities, Inc., Citibank, N.A., HSBC Securities (USA) Inc., Mizuho Bank, Ltd., Morgan Stanley Senior Funding, Inc., and PNC Bank, National Association acted as the joint lead arrangers and joint bookrunners for the tranche B term loan repricing.

    About MKS Instruments
    MKS Instruments enables technologies that transform our world. We deliver foundational technology solutions to leading edge semiconductor manufacturing, electronics and packaging, and specialty industrial applications. We apply our broad science and engineering capabilities to create instruments, subsystems, systems, process control solutions and specialty chemicals technology that improve process performance, optimize productivity and enable unique innovations for many of the world’s leading technology and industrial companies. Our solutions are critical to addressing the challenges of miniaturization and complexity in advanced device manufacturing by enabling increased power, speed, feature enhancement, and optimized connectivity. Our solutions are also critical to addressing ever-increasing performance requirements across a wide array of specialty industrial applications. Additional information can be found at http://www.mks.com.

    SAFE HARBOR FOR FORWARD-LOOKING STATEMENTS
    This press release contains a forward-looking statement within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27 of the Securities Act, and Section 21E of the Securities Exchange Act regarding MKS’ cash interest savings. This statement is only a prediction based on current assumptions and expectations. Actual events or results, including changes in interest rates, may differ materially from those in the forward-looking statement set forth herein. Readers are referred to MKS’ filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q for a discussion of these and other important risk factors concerning MKS and its operations. MKS is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.

    Company Contact:
    Paretosh Misra
    Vice President, Investor Relations
    Telephone: (978) 284-4705
    Email: paretosh.misra@mksinst.com

    The MIL Network –

  • MIL-OSI: Fusion Fuel Provides Update on Gas Business, Announces Key Developments in Middle East Operations

    Source: GlobeNewswire (MIL-OSI)

    DUBLIN, Jan. 24, 2025 (GLOBE NEWSWIRE) — via IBN – Fusion Fuel Green PLC (Nasdaq: HTOO) (“Fusion Fuel” or the “Company”), a leading provider of full-service energy engineering and advisory solutions, is pleased to announce several significant developments in its Al Shola Gas (“Al Shola”) subsidiary, which continues to serve as a core driver of growth and profitability for the Company.

    Between November 2024 and January 2025, Al Shola secured new orders and renewals valued at approximately USD $3.5 million. These include the renewal of an exclusive LPG supply contract in the residential sector and multiple supply and installation projects across diverse customer segments, such as manufacturing, hospitality, and construction.

    Commenting on the commercial progress, JP Backwell, CEO of Fusion Fuel, said: “Our gas business continues to generate meaningful cash flows in its core markets in the Middle East, representing a strong and profitable foundation for Fusion Fuel. The recent orders and renewals underscore the trust our customers place in us and our ability to deliver both fuel and value-added solutions safely and reliably. Looking ahead, we see tremendous potential for growth with additional investment in our infrastructure, particularly to expand our bulk LPG supply capabilities. We are excited about the opportunity to broaden our geographical reach, expand our service offerings, and increase our capacity, which we believe will unlock new revenue streams and enable us to meet the growing demand from our customers, both in the Middle East and beyond. With our Al Shola Gas and BrightHy operating businesses, Fusion Fuel is well-positioned to drive sustainable growth and create long-term value for our shareholders by delivering innovative energy solutions across the full energy value chain.”

    About Fusion Fuel Green plc

    Fusion Fuel Green PLC (NASDAQ: HTOO) is an emerging leader in the energy services sector, offering a comprehensive suite of energy engineering and advisory solutions through its Al Shola Gas and BrightHy subsidiaries. Al Shola Gas provides full-service industrial gas solutions, including the design, supply, and maintenance of liquefied petroleum gas (LPG) systems, as well as the transport and distribution of LPG to a broad range of customers across commercial, industrial, and residential sectors. BrightHy, the Company’s newly launched hydrogen solutions platform, focuses on delivering innovative engineering and advisory services that enable decarbonization across hard-to-abate industries.

    Learn more about Fusion Fuel by visiting our website at https://www.fusion-fuel.eu and following us on LinkedIn.

    Forward-Looking Statements

    This press release includes “forward-looking statements.” Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target”, “may”, “intend”, “predict”, “should”, “would”, “predict”, “potential”, “seem”, “future”, “outlook” or other similar expressions (or negative versions of such words or expressions) that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Fusion Fuel has based these forward-looking statements largely on its current expectations, including but not limited the ability of the investment reported on to be consummated as anticipated. Such forward-looking statements are subject to risks and uncertainties (including those set forth in Fusion Fuel’s Annual Report on Form 20-F for the year ended December 31, 2023, filed with the Securities and Exchange Commission) which could cause actual results to differ from the forward-looking statements.

    Investor Relations Contact
    ir@fusion-fuel.eu

    Wire Service Contact:
    IBN
    Austin, Texas
    http://www.InvestorBrandNetwork.com
    512.354.7000 Office
    Editor@InvestorBrandNetwork.com

    The MIL Network –

  • MIL-OSI: First Federal Savings Bank and ICBA Provide Tips to Safeguard Sensitive Information During Data Privacy Week Jan 24-28

    Source: GlobeNewswire (MIL-OSI)

    EVANSVILLE, Ind., Jan. 24, 2025 (GLOBE NEWSWIRE) — In recognition of Data Privacy Week, First Federal Savings Bank and the Independent Community Bankers of America® (ICBA) are reminding customers to take steps to safeguard their sensitive data and shield against financial losses in the event of a compromise or data breach. The global average cost of a data breach in 2024 was $4.88 million, a 10 percent increase over 2023 and the highest ever recorded.

    “While there’s no fool-proof method to safeguard sensitive data, at First Federal Savings Bank, we believe that an important step in the fight against such attacks is arming customers with the proper protocols to reduce their exposure,” said Christy McBride, Chief Operations Officer & Information Security Officer, EVP. “As a community bank, First Federal Savings Bank uses sophisticated technology and monitoring techniques, intricate firewalls, and other methods to secure customer data. Additionally, we maintain stringent privacy policies and educate employees to treat confidential information with the utmost care.”

    Reducing Your Risk
    As a consumer you also can help minimize your risk by:

    • Restricting use of public wi-fi and computers—These networks may be convenient but are not as secure. If you make purchases while away from your home or work network, use a virtual private network or mobile hotspot.
    • Limiting disclosed information—Never respond to requests for personal information such as your banking ID, account number, username, or password, even if they appear to originate from your bank, government agencies or officials, or companies with which you have a relationship.
    • Taking advantage of security features—Update your computer security software and apply software updates to your computer system, mobile devices, web browsers, and operating system regularly to defend against viruses, malware, and other online threats.
    • Monitoring account activity—Carefully review bank statements, card transactions, and check your credit report regularly for unusual or unexplained charges, unknown accounts in your name, or unexpected denials on your card and report any suspicious activity to your bank immediately.
    • Protecting each account with a unique, complex password—Use numbers and symbols at least 12 characters long along with using a password manager. Use multifactor authentication for accounts that allow it.

    Responding to a Data Breach
    In the unfortunate event of a data breach, to minimize your risk:

    • Consider a security freeze on your credit report to restrict credit file access.
    • Set up a fraud alert, which directs banks to verify your identity before opening a new account, issuing an additional card, or increasing the credit limit on an existing account.
    • Shred documents with personal or sensitive information and change your passwords.
    • Report stolen finances or identities and other cybercrime to the Internet Crime Complaint Center and to your local law enforcement and/or state attorney general.

    Learn more about how to protect your digital life by visiting the Stay Safe Online website and spreading the word on social media with the hashtag #BeCyberSmart.

    About First Federal Savings Bank Member FDIC

    First Federal Savings Bank was established on Evansville, Indiana’s Westside in 1904. A community bank offering eight locations in Posey, Vanderburgh, Warrick, and Henderson County. First Federal Savings Bank is also proud to offer Home Building Savings Bank locations in Daviess and Pike County.

    About ICBA

    The Independent Community Bankers of America® has one mission: to create and promote an environment where community banks flourish. We power the potential of the nation’s community banks through effective advocacy, education, and innovation.

    As local and trusted sources of credit, America’s community banks leverage their relationship-based business model and innovative offerings to channel deposits into the neighborhoods they serve, creating jobs, fostering economic prosperity, and fueling their customers’ financial goals and dreams. For more information, visit ICBA’s website at icba.org.

    The MIL Network –

  • MIL-OSI: Key Tronic Corporation Awarded Major New Contract with Energy Resilience Technology Provider

    Source: GlobeNewswire (MIL-OSI)

    SPOKANE VALLEY, Wash., Jan. 24, 2025 (GLOBE NEWSWIRE) — Key Tronic Corporation (Nasdaq KTCC), a world class provider of manufacturing and design engineering services, today announced that it expects to begin manufacturing in the second half of 2025 for a market revolutionizing, innovative energy resilience technology provider.   

    Key Tronic has been awarded the manufacturing of an industry leading, innovative energy resiliency product. Initial production will ramp in late 2025 at the Key Tronic manufacturing campuses in Juarez, Mexico and Arkansas. Once fully ramped, Key Tronic believes the yearly revenue could exceed $60 million dollars.

    “We are looking forward to the design and manufacturing expertise of Key Tronic to help accelerate introduction of new products, as well as enhance our ability to increase product availability to fulfill the anticipated overwhelming demand,” said the CEO of Key Tronic’s new customer.

    “We are very excited to be working with a recognized, emerging leader in the energy resiliency industry,” said Brett Larsen, President and CEO of Key Tronic. “The product has the potential to assist in better asset management and public safety by ensuring increased vigilance across all operations. Our new customer is a highly respected company and we are thrilled to be involved with a product that can assist in the greater good. This important new strategic relationship represents an expansion of our customer base and we expect it will contribute to profitable long term growth.”

    About Key Tronic

    Key Tronic is a leading design engineering and contract manufacturer offering value-added design and manufacturing services from its facilities in the United States, Mexico, China and Vietnam. Key Tronic provides its customers full engineering services, materials management, worldwide manufacturing facilities, assembly services, in-house testing, and worldwide distribution. Its customers include some of the world’s leading original equipment manufacturers. For more information about Key Tronic visit: http://www.keytronic.com.

    Forward-Looking Statements

    Some of the statements in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including Key Tronic’s opportunities and its partnership, the potential success of Key Tronic and the customer, and related revenues. Forward-looking statements include all passages containing verbs such as aims, anticipates, believes, estimates, expects, hopes, intends, plans, predicts, projects or targets or nouns corresponding to such verbs.  Forward-looking statements also include other passages that are primarily relevant to expected future events or revenue or that can only be fully evaluated by events that will occur in the future.  There are many factors, risks and uncertainties that could cause actual results to differ materially from those predicted or projected in forward-looking statements, including but not limited to: the success and timing of ramping; availability and timing and receipt of critical parts or components; demand from customers and sales channels; the future of the global economic environment and its impact on our customers and suppliers; the availability of a healthy workforce; the accuracy of suppliers’ and customers’ forecasts; development and success of customers’ programs and products; success of new-product introductions; the risk of legal proceedings or governmental investigations relating to the previously reported financial statement restatements and related material weaknesses, the May 2024 cybersecurity incident and the subject of the internal investigation by the Company’s Audit Committee and related or other unrelated matters; acquisitions or divestitures of operations or facilities; technology advances; changes in pricing policies by the Company, its competitors, customers or suppliers; impact of new governmental legislation and regulation, including tax reform, tariffs and related activities, such trade negotiations and other risks; and other factors, risks, and uncertainties detailed from time to time in the Company’s SEC filings.

    CONTACTS: Anthony G. Voorhees   Michael Newman
      Chief Financial Officer   Investor Relations
      Key Tronic Corporation   StreetConnect
      (509) 927-5345   (206) 729-3625

    The MIL Network –

  • MIL-OSI: China Medical System（00867）Obtained Class 1 Innovative Drug Long-acting Anti-IL-4Rα Monoclonal Antibody MG-K10

    Source: GlobeNewswire (MIL-OSI)

    SHENZHEN, CHINA, Jan. 24, 2025 (GLOBE NEWSWIRE) — China Medical System Holdings Limited (the “Company”, together with its subsidiaries, the “Group” or “CMS”) is pleased to announce that on 24 January 2025, the Group through subsidiaries of the Company entered into a Collaboration Agreement with Hunan Mabgeek Biotechnology Co., Ltd. (“Mabgeek Biotechnology”) and its subsidiary for Class 1 innovative drug anti-IL-4Rα humanized monoclonal antibody injection MG-K10 (“MG-K10” or the “Product”). The Group has obtained the co-development right as specifically agreed upon in the Agreement and exclusive commercialization right to the Product in Mainland China, Hong Kong Special Administrative Region, Macao Special Administrative Region, Taiwan Region and Singapore (the “Territory”); Mabgeek Biotechnology will support the commercialization activities and is responsible for the sale and supply of the Product. The collaboration term is perpetual.

    IL-4Rα is considered a key target for the treatment of type 2 inflammatory diseases, such as atopic dermatitis (AD), asthma, prurigo nodularis, etc. Anti-IL-4Rα monoclonal antibodies are among the best-selling biologics in this field. MG-K10 is an innovative long-acting anti-IL-4Rα humanized monoclonal antibody that simultaneously blocks the signaling of key type 2 inflammatory cytokines IL-4 and IL-13. Following Fc mutation, MG-K10 allows long dosing interval owing to its prolonged half-life, and it is expected to be the first long-acting anti-IL-4Rα monoclonal antibody marketed in China. Currently marketed anti-IL-4Rα drugs require dosing every two weeks, whereas MG-K10 only requires dosing every four weeks, demonstrating good efficacy and safety. MG-K10 has the potential to be the Best-in-Class (BIC).

    This collaboration marks another significant milestone for Dermavon (formerly known as CMS Skinhealth)’s layout in the dermatology field. MG-K10 will enrich the global differentiated innovative pipeline of Dermavon, and will strongly synergize with the existing product portfolio, such as marketed innovative drug ILUMETRI (tildrakizumab injection), marketed exclusive drug Hirudoid (mucopolysaccharide polysulfate cream) and dermatology-grade skincare products of Heling soothing product series (developed for AD patients), and innovative pipeline drugs ruxolitinib cream (for the topical treatment of mild to moderate AD and non-segmental vitiligo) and povorcitinib (for the treatment of non-segmental vitiligo, hidradenitis suppurativa, prurigo nodularis and chronic spontaneous urticaria), etc. Leveraging its proven clinical development and commercialization capabilities, the Group will fully cooperate with Mabgeek Biotechnology to promote the approval of MG-K10 in China, bringing a new treatment option with lower dosing frequency, good efficacy and safety to patients with type 2 inflammatory diseases in China.

    More information about MG-K10
    MG-K10 is a Class 1 innovative drug anti-IL-4Rα humanized monoclonal antibody injection that used for the treatment of type 2 inflammatory diseases, including AD, asthma, prurigo nodularis, allergic rhinitis, chronic rhinosinusitis with nasal polyps, eosinophilic esophagitis, chronic obstructive pulmonary disease and so on. It holds substance patents in specific countries/regions within the Territory.

    MG-K10 has entered Phase III clinical trials in China for AD, asthma, and prurigo nodularis. In the completed Phase II clinical trials for adult moderate-to-severe AD and moderate-to-severe asthma, MG-K10 has demonstrated good efficacy and safety[1-2]. Additionally, MG-K10 has obtained IND approval for eosinophilic esophagitis, chronic rhinosinusitis with nasal polyps, and seasonal allergic rhinitis in China.

    According to Frost & Sullivan, the global market for treatments targeting IL-4Rα is expected to reach US$28.7 billion by 2030, with a compound annual growth rate (CAGR) of 21.8% from 2020 to 2030. In China, the market is projected to reach US$4.08 billion by 2030, with a CAGR of 76.8% from 2020 to 2030.

    About AD indication
    MG-K10’s first indication, AD, is a chronic inflammatory skin condition characterized by severe itching. It is the most burdensome non-fatal skin disease globally, with at least 230 million people affected worldwide[3]. AD is also a prevalent and high-burden chronic disease in China, with the prevalence showing an upward trend[3]. According to the Global Burden of Disease Study 2019, the number of AD patients in China increased by 25.65% from 1990 to 2019[3]. It is estimated that there are approximately 36.09 million AD patients in China[3], with approximately 9.625 million suffering from moderate-to-severe AD[4].

    Current treatment options for AD primarily include topical and systemic treatments. For moderate-to-severe AD, topical medications are often insufficient to achieve disease control, necessitating the initiation of systemic treatments. However, due to the limitations in efficacy and safety of traditional systemic therapies for AD, moderate-to-severe AD patients often experience delays in systemic treatment initiation, poor compliance, and suboptimal disease control, leaving a significant unmet need in clinical practice[3]. MG-K10, with its extended dosing interval of once every four weeks, is expected to improve patient adherence and provide a new, effective, and safe systemic treatment option for patients with moderate-to-severe AD.

    About Mabgeek Biotechnology
    Mabgeek Biotechnology was founded in 2016 and has always adhered to the research and development concept of “innovation, efficiency and safety”, focusing on the fields of allergic inflammatory diseases and autoimmune diseases. Mabgeek Biotechnology is equipped with a research and development team composed of top industry experts. With excellent research capabilities and deep industry experience, Mabgeek Biotechnology uses its unique TEADA high-throughput antibody screening platform to develop innovative antibody drugs with high biological activity, excellent druggability, and differentiation. Mabgeek Biotechnology is committed to providing safer, more effective and more convenient treatment solutions for patients worldwide. For more information about Mabgeek Biotechnology and its products, please visit: https://www.mabge.com/.

    About CMS
    CMS is a platform company linking pharmaceutical innovation and commercialization with strong product lifecycle management capability, dedicated to providing competitive products and services to meet unmet medical needs.

    CMS focuses on the global first-in-class (FIC) and best-in-class (BIC) innovative products, and efficiently promotes the clinical research, development and commercialization of innovative products, enabling the continuous transformation of scientific research into clinical practices to benefit patients.

    CMS deeply engages in several specialty therapeutic fields, and has developed proven commercialization capabilities, extensive networks and expert resources, resulting in leading academic and market positions for its major marketed products. CMS continues to promote the in-depth development of its advantageous specialty fields and expand business boundaries. While strengthening the competitiveness of the cardio-cerebrovascular/gastroenterology business, CMS independently operates its dermatology and medical aesthetics business, and ophthalmology business, aiming to gain leading positions in specialty therapeutic fields, whilst enhancing the scale and efficiency. At the same time, CMS has expanded its business territory to the Southeast Asian market, striving to become a “bridgehead” for global pharmaceutical companies to enter the Southeast Asian market, further escorting the sustainable and healthy development of the Group.

    Reference:

    1. The data of the product’s Phase II clinical trial for AD indication as disclosed by Mabgeek: https://www.mabge.com/en/index.php?c=show&id=23
    2. The interim data of the product’s Phase II clinical trial for asthma indication as disclosed by Mabgeek: https://www.mabge.com/index.php?c=show&id=18
    3. Chinese Society of Dermatology, China Dermatologist Association. Clinical pathway for the diagnosis and treatment of moderate to severe atopic dermatitis in China (2023): an expert consensus[J]. Chinese Journal of Dermatology, 2023, 56(11): 1000-1007. DOI: 10.35541/cjd.20230247.
    4. Mao, Dandan et al. Prevalence and risk factors of atopic dermatitis in Chinese adults: a nationwide population-based cross-sectional study. Chinese medical journal vol. 136,5 604-606. 5 Mar. 2023, DOI:10.1097/CM9.0000000000002560

    CMS Disclaimer and Forward-Looking Statements
    This press release is not intended to promote any products to you and is not for advertising purposes. This press release does not recommend any drugs, medical devices and/or indications. If you want to know more about the diagnosis and treatment of specific diseases, please follow the opinions or guidance of your doctor or other medical and health professionals. Any treatment-related decisions made by healthcare professionals should be based on the patient’s specific circumstances and in accordance with the drug package insert.

    This press release which has been prepared by CMS does not constitute any offer or invitation to purchase or subscribe for any securities, and shall not form the basis for or be relied on in connection with any contract or binding commitment whatsoever. This press release has been prepared by CMS based on information and data which it considers reliable, but CMS makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this press release. Certain matters discussed in this press release may contain statements regarding the Group’s market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. Any forward-looking statements and projections made by third parties included in this press release are not adopted by the Group and the Company is not responsible for such third-party statements and projections.

    Media Contact

    Brand: China Medical System Holdings Ltd.

    Contact: CMS Investor Relations

    Email: ir@cms.net.cn

    Website: https://web.cms.net.cn/en/home/

    Source: China Medical System Holdings Ltd.

    The MIL Network –

  • MIL-OSI: New way to earn cryptocurrencies: Earn Bitcoin BTC, DOGE, ETH with BitconeMine Best Free Cloud Mining

    Source: GlobeNewswire (MIL-OSI)

    LONDON, Jan. 24, 2025 (GLOBE NEWSWIRE) — Many people find that despite hard work, they don’t get the income they want. Since November 2024, the cryptocurrency market has skyrocketed and created multiple millionaires in a short period of time. People are beginning to realize that cryptocurrency is a financial asset that can create their own wealth in the short term, more than any other investment opportunity.

    The era of cryptocurrency has arrived, especially the rise of the mining industry. Understand the birth and rise of blockchain technology, the importance of digital currency to our economy, and the current market conditions. “BitconeMine” takes you in depth to understand how to earn fixed income through remote monitoring mining. Whether you are a beginner or an experienced veteran, you will learn how to make a profit in cloud mining in this guide. Take advantage of this opportunity and benefit from this comprehensive guide.

    About BitconeMine:

    BitconeMine is a leader in the global cloud mining industry. The company was established in London, UK in December 2017. It is officially authorized and regulated by the UK Financial Services Authority and strictly abides by laws and regulations. After years of vigorous development, BitconeMine has dozens of large mining farms in the United States, Canada, the United Kingdom, Norway, South Africa and other countries, with members in 197 countries and regions, and is trusted by 3 million users worldwide.

    Advantages of BitconeMine:

    ⦁ Low threshold and easy operation platform
    ⦁ Get a $10 instant bonus after registration.
    ⦁ High profit level and enjoy daily income.
    ⦁ No other service fees or management fees.
    ⦁ The platform uses more than a variety of cryptocurrencies for settlement, including USDT-TRC20, BTC, ETH, LTC, USDC, BNB, USDT-ERC20, BCH, DOGE, SOL (Solana) and XRP
    ⦁ The company’s affiliate program allows you to refer your friends and earn up to 3%-4.5% of the

    How to start participating:

    (1) Create a BitconeMine account.
    (2) Choose a mining package that suits you
    (3) Sign a contract – the system automatically starts mining.
    (4) Just wait every day. Interest is automatically settled every 24 hours

    BitconeMine offers free mining contract options and a variety of mining investment options, such as:

    Contract Price Contract duration Daily income Total revenue
    $100 2 $4.5 $100+$9
    $500 5 $6.25 $500+$31.25
    $1000 15 $13.3 $1000+$199.5
    $3000 21 $42.6 $3000+$894.6
    $5000 30 $77.5 $5000+$2325

    Each contract has a unique ROI and a specific contract period.

    Security and sustainability:

    BitconeMine takes user security very seriously and uses ⦁McAfee®, Cloudflare® and SSL encryption protection. And the company has long-term cooperation with Legal & General Insurance Company. BitconeMine is committed to transparency and legality. You don’t need to invest in equipment in advance, huge electricity bills, so you can focus more on getting returns. BitconeMine uses AI intelligent management to integrate mining equipment and uses new energy and renewable energy to protect the environment from pollution, greatly reducing operating costs, and is a benchmark for sustainable development.

    Conclusion:

    BitconeMine provides a simple package purchase contract method that even beginners can quickly understand. If you are looking for ways to increase passive income, BitconeMine is an excellent choice. If used properly, these opportunities can help you “automatically” increase your crypto wealth with minimal time investment and earn more than $1,000-100,000 per day.

    To learn more about BitconeMine, visit its official website: https://bitconemine.com

    Contact:
    Lily Tanoria
    info@bitconemine.com

    Disclaimer: This content is provided by BitconeMine. The statements, views and opinions expressed in this column are solely those of the content provider. The content of this article is for informational purposes only and should not be considered financial, investment, or legal advice. Cryptocurrency mining, including through platforms like BitconeMine, involves risks such as market volatility, regulatory changes, and potential financial losses. Prospective users are encouraged to conduct thorough research and consult with a professional advisor before making any decisions. BitconeMine’s performance, profitability, and rewards are not guaranteed and may vary based on individual circumstances, market conditions, and computational power. The author and publisher of this article are not responsible for any losses or damages arising from the use of the information provided. Always invest and participate responsibly.

    Photos accompanying this announcement are available at
    https://www.globenewswire.com/NewsRoom/AttachmentNg/f2d7343f-0790-4f97-8c96-d896799dac86
    https://www.globenewswire.com/NewsRoom/AttachmentNg/f34ecdcb-d6cb-446d-812d-c4913d46c902

    The MIL Network –

  • MIL-OSI: The Drone Market Size Continues to Rise Steeply Generating Lucrative Revenue Opportunity

    Source: GlobeNewswire (MIL-OSI)

    PALM BEACH, Fla., Jan. 24, 2025 (GLOBE NEWSWIRE) — FN Media Group News Commentary – The drone platform services segment dominated the global drone services market share in recent years and is estimated to be the fastest growing through 2032. This is due to the growing use of drones for emergency response and public safety. Drone platform services refer to a range of software and hardware solutions that enable the safe and efficient operation of drones. Drone MRO services comprise maintenance, repair, and overhaul services for items such as wind turbine blades, solar plates, and oil & gas pipelines, especially in hard-to-reach locations. The drone MRO services segment is expected to register significant growth during the forecast period due to increasing demand for low cost and effective inspection services across various sectors. Autonomous drones are UAVs that can operate without human intervention, using advanced software, sensors, and cameras. These drones have been playing an essential role in various industries such as agriculture, construction, mining, and logistics. The introduction of artificial intelligence (AI) software improves the overall performance of unmanned aerial systems, enabling drones to recognize objects, examine information, and provide real-time analytical feedback. A report from Fortune Business Insights said that: “The increase in precision farming needs, aiming to boost crop productivity, drives market growth. Drone OEMs are investing in R&D for thermal cameras, multispectral sensors, and LiDAR, improving drone efficacy in monitoring fields, creating vegetation maps, and detecting issues such as disease and irrigation irregularities. Thus, it drives the market growth during the forecast period.”    Active Companies in the markets today include ZenaTech, Inc. (NASDAQ: ZENA), AgEagle Aerial Systems Inc. (NYSE: UAVS), Palladyne AI Corp. (NASDAQ: PDYN), Red Cat Holdings, Inc. (NASDAQ: RCAT), Ambarella, Inc. (NASDAQ: AMBA).

    Fortune Business Insights continued: “Agricultural drones, flying at a specific altitude with sensors, provide crucial analytical data for controls crop health, treatment, exploration, field soil analysis, and yield assessments, aiding farmers in making informed decisions and reducing time and costs. The surveillance & inspection segment dominates the market. It is estimated to be the fastest growing segment during the forecast period, owing to rising demand for surveillance and inspection operations from agriculture, oil & gas, mining, and other sectors. The product delivery segment held the second-largest share in the application segment. It refers to the use of drones to deliver goods to customers. This entails specialized drones equipped with sensors and GPS technology to navigate and deliver packages to their intended destinations. The rising demand for fast and efficient delivery services is anticipated to boost the product delivery segment.”

    ZenaTech (NASDAQ:ZENA) Announces Listing of its Common Shares on the Mexican Stock Exchange – ZenaTech, Inc. (FSE: 49Q) (BMV: ZENA) (“ZenaTech”), a technology company specializing in AI (Artificial Intelligence) drone, Drone-as-a-Service (DaaS), enterprise SaaS and Quantum Computing solutions, announces that it its common shares are approved for listing and trading on the BMV: Bolsa Mexicana de Valores (Mexican Stock Exchange). The shares trade under the symbol “ZENA” on its International Quotation System (SIC), effective January 23, 2025.

    “As we continue to expand our business into new geographical markets, this additional listing on the Mexican Stock Exchange not only broadens our international exposure but provides increased liquidity for our shareholders. We look forward to sharing our story with Mexican investors as we continue to drive value for our shareholders,” said CEO Shaun Passley, Ph.D.

    In Additional ZENA News – ZenaTech Inc.’s (NASDAQ:ZENA) Acquires KJM Land Surveying LLC, a Second Acquisition to Accelerate Drone Innovation in Land Surveys and Establish a Southeast Base for its Drone as a Service Business – ZenaTech, a technology company specializing in AI (Artificial Intelligence) drone, Drone-as-a-Service (DaaS), enterprise SaaS and Quantum Computing solutions, announces that it has acquired KJM Land Surveying LLC, a well-established Pensacola Florida land survey engineering company with a long history and roster of repeat customers. This is ZenaTech’s second acquisition as part of a larger roll-up strategy to disrupt the land survey industry by accelerating the use of drones for speed, accuracy and innovation benefits. The acquisition will also form the base of the Southeast US region of its national Drone as a Service or DaaS business which utilizes drone solutions from its subsidiary company ZenaDrone.

    “Closing this second acquisition is another step in our Drone as a Service or DaaS strategy, establishing a Southeast base with an experienced team and customer relationships, which adds to our Northwest base and national rollout. We have the opportunity to significantly disrupt the land survey business at scale using drone technologies. We view our DaaS business model as similar as to how Uber disrupted the taxi industry,” said CEO Shaun Passley, Ph.D. “This acquisition, as well as the 20 others we have identified, have the potential to add accretive revenue over the short term as well as the long term.”

    The US Surveying and Mapping Services industry is estimated at $10.3 billion according to Business Research Insights, growing at least 3% annually. Remotely piloted drones with an array of sensors and cameras, LiDAR (Light Detection and Ranging), and GPS systems for capturing high-resolution pictures and data are revolutionizing the land survey industry gathering aerial data across expansive terrains in a matter of hours instead of weeks or months using traditional methods.   Continued… Read this full release by visiting: https://www.financialnewsmedia.com/news-zena/

    Other recent developments in the technology industry include:

    Ambarella, Inc. (NASDAQ: AMBA) recently announced during CES the N1-655 edge GenAI system-on-chip (SoC), which provides on-chip decode of 12x simultaneous 1080p30 video streams, while concurrently processing that video and running a hybrid of multiple, multimodal vision-language models (VLMs) and traditional CNNs. This SoC’s high AI processing performance supports most of the popular multimodal VLMs and large-language models (LLMs), while consuming only 20 watts of power—10-100x lower than cloud processors. For example, the N1-655 reliably runs the Phi, Gemma, LLaVA-OneVision and Llama models, without the need for an internet connection, on data inputs like visuals and speech in applications such as on-premise AI boxes, autonomous mobile robots (AMRs), and smart-city security video recorders.

    Following its initial N1 SoC introduced last year, Ambarella is building up a family of edge GenAI SoCs for tasks that go beyond what can be done on-camera. Both of the current family members process GenAI models locally to improve privacy with state-of-the-art performance per watt, significantly reducing power consumption as well as the total cost of ownership compared to cloud-based inference processing.

    AgEagle Aerial Systems Inc. (NYSE: UAVS) recently announced the completion of its previously announced historic order of eBee VISION systems to its reseller for French Army surveillance operations. Each system consists of an eBee VISION UAV, ground control systems, comms and antenna package, and a tactical backpack unit. The final 15 units have been delivered pursuant to this purchase order, with the total order valued at $3.4M, which represents the largest single order since the Company was founded.

    Bill Irby, AgEagle President, stated, “As AgEagle embarks on what we anticipate being a promising new year in the expanding drone market, closing out this historic requisition serves as a strong indicator of what we believe will be our most successful year to date. In conjunction with our reseller partner we have conducted multiple training events with the French Army which provided invaluable real-time feedback we are leveraging to accelerate the evolution of our eBee VISION. We believe these insights, in addition to our recent significant milestone achievements, will be essential to the scaling of our high-value intelligence, surveillance, and reconnaissance product offerings to military and commercial operations worldwide. We look forward to driving ongoing sustainable revenue growth and remain committed to building long-term value for all our stakeholders.”

    Palladyne AI Corp. (NASDAQ: PDYN) and Red Cat Holdings, Inc. (NASDAQ: RCAT), a drone technology company integrating robotic hardware and software for military, government, and commercial operations, recently announced the completion of the first successful flight in which multiple Teal drones equipped with Palladyne™ Pilot AI software autonomously collaborated to identify, prioritize, and track objects of interest on the ground. The flight demonstrates how the Palladyne Pilot AI software leverages sensor management and platform collaboration to enable a flight of two or more drones to autonomously collaborate and share multi-modal sensor information under constrained communication between drones. This follows Palladyne AI’s announcement in December 2024 that it had successfully demonstrated a single drone’s ability to interface with a small drone’s autopilot system using Palladyne Pilot to autonomously identify, prioritize, and track terrestrial targets.

    “Enabling multiple Teal and Black Widow drones to synthesize and share multi-modal sensor fusion information in real-time will dramatically improve situational awareness in the field,” said Geoff Hitchcock, Chief Revenue Officer, Red Cat Holdings, Inc. “Even more compelling is the ability to translate that shared information into autonomous navigation, enabling a single operator to manage multiple drones with a substantially reduced cognitive load and in operational environments with limited connectivity. We look forward to engaging with our customers to showcase the value of this groundbreaking joint-solution.”

    About FN Media Group:

    At FN Media Group, via our top-rated online news portal at http://www.financialnewsmedia.com, we are one of the very few select firms providing top tier one syndicated news distribution, targeted ticker tag press releases and stock market news coverage for today’s emerging companies. #tickertagpressreleases #pressreleases

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    DISCLAIMER:  FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels.  FNM is NOT affiliated in any manner with any company mentioned herein.  FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security.  FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities.  The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material.  All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks.  All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release.  FNM is not liable for any investment decisions by its readers or subscribers.  Investors are cautioned that they may lose all or a portion of their investment when investing in stocks.  For current services performed FNM has been compensated fifty four hundred dollars for news coverage of the current press releases issued by ZenaTech, Inc. by the Company.  FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

    This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.

    Contact Information:

    Media Contact email: editor@financialnewsmedia.com – +1(561)325-8757

    SOURCE: FN Media Group

    The MIL Network –

  • MIL-OSI: WISeKey Announces HUMAN-AI-T, Universal AI for Humanity Platform, at Davos

    Source: GlobeNewswire (MIL-OSI)

    WISeKey Announces HUMAN-AI-T, Universal AI for Humanity Platform, at Davos

     View video here

    Davos, January 24, 2025 – WISeKey International Holding Ltd (“WISeKey”) (SIX: WIHN, NASDAQ: WKEY), a leading global cybersecurity, blockchain, and IoT company, today  unveiled live on CNBC from Davos, that in conjunction with the preview of the forthcoming book “Humanity at the Crossroads,” WISeKey, and SEALSQ, are joining forces with leading organizations and institutions to create a groundbreaking AI platform, codenamed HUMAN-AI-T. This universal AI will harness the wisdom of humanity, derived from certified historical and contemporary resources, to ensure the preservation and application of human knowledge for future generations.

    Building on the principles of the Svalbard Global Seed Vault, which secures the world’s agricultural biodiversity, the HUMAN-AI-T project aims to serve as the digital equivalent for human knowledge. It will consolidate a vast range of sources, including religious texts, legal frameworks, international treaties, philosophical ideas, and spiritual teachings from civilizations across the globe, integrating these with wisdom and local traditions. By doing so, it will holistically define humanity and teach the AI unique intricacies, ensuring that its development remains centered on universal human values.

    A Human-Centric Vision for AI

    The HUMAN-AI-T platform will be built using only certified and digitally signed resources to guarantee neutrality and authenticity in its knowledge base. This collaboration between leading universities, WISeKey, and SEALSQ will employ advanced digital stamping and security technologies, ensuring transparency and integrity in the processing of data.

    The primary objective of HUMAN-AI-T is to create an AI that not only augments human potential but also places humanity at the center of technological progress. By mastering AI in this way, the project aspires to secure the world’s collective knowledge and provide a foundation for a more equitable and ethical digital future.

    Launch Highlights

    The HUMAN-AI-T project was officially introduced alongside the launch of the forthcoming book ‘Humanity at the Crossroads’ from the authors of ‘The TransHuman Code’ Carlos Moreira and David Fergusson, during a live broadcast from the CNBC  Sanctuary at Davos. The discussion underscored the urgent need to harness technology to unleash, rather than overshadow, human potential.

    A Secure and Inclusive Digital Future

    The HUMAN-AI-T project represents a monumental step forward in the journey toward a human-centric approach to AI. By leveraging cutting-edge technologies and ethical principles, this initiative seeks to build a foundation for global cooperation and innovation, ensuring that technology serves as a force for good in the world.

    This collaboration marks a pivotal moment in the history of AI development, setting the stage for a future where technology enhances humanity while preserving the values and wisdom that define us.

    About WISeKey

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

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

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

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

    Press and Investor Contacts

    WISeKey International Holding Ltd
    Company Contact: Carlos Moreira
    Chairman & CEO
    Tel: +41 22 594 3000
    info@wisekey.com     		 WISeKey Investor Relations (US) 
    The Equity Group Inc.
    Lena Cati
    Tel: +1 212 836-9611
    lcati@equityny.com

    The MIL Network –

  • MIL-OSI: Adoption of Drones-as-a-Service Industry Explodes Along Rising Revenue Opportunities in the Billions

    Source: GlobeNewswire (MIL-OSI)

    PALM BEACH, Fla., Jan. 24, 2025 (GLOBE NEWSWIRE) — FN Media Group News Commentary – The drone market size continues to expand as the drone services industry evolves, offering a diverse range of services for both remotely controlled and autonomously flown drones. This industry integrates software-controlled flight plans into drones’ embedded systems, making it a critical component in sectors like agriculture, insurance, construction, marine, aviation, oil & gas, mining, and infrastructure. The demand for these services, which includes tasks such as search and rescue, package delivery, industrial inspections, imaging, and healthcare supply distribution to remote areas, significantly contributes to the growing drone market size. A study from MarketsAndMarkets said the Global Drone Services Market Size, which was valued at USD 17.0 billion in 2023, is estimated to reach USD 57.8 billion by 2028, growing at a CAGR of 27.7% during the forecast period. The report said: “In terms of market segmentation, drone services are categorized by the type of service provided, including platform services (further divided into flight piloting and operation, data analysis, and data processing), maintenance, repair, and operations (MRO), and simulation and training. The application-based segmentation encompasses inspection and monitoring, mapping and surveying, spraying and seeding, filming and photography, transport and delivery, as well as security, search, and rescue. The industry-based segmentation covers a wide spectrum of sectors, including construction and infrastructure, agriculture, utility, oil & gas, mining, defense and law enforcement, media and entertainment scientific research, insurance, aviation, marine, healthcare and social assistance, and transportation, logistics, and warehousing. These industries rely heavily on drones for functions like inspection, monitoring, and photography, further driving the drone market size.” Active Companies in the markets today include ZenaTech, Inc. (NASDAQ: ZENA), Safe Pro Group Inc. (NASDAQ: SPAI), EHang Holdings Limited (NASDAQ: EH), Unusual Machines, Inc. (NYSE: UMAC), Ondas Holdings Inc. (NASDAQ: ONDS).

    MarketsAndMarkets continued: “Furthermore, the market is categorized by solution type into end-to-end solutions, which encompass all platform services like piloting and operations, data analytics, and data processing. Point solutions are specific to piloting or data processing for applications such as surveying, inspection, and monitoring. North America is expected to hold the largest share of the drone market size within the drone services industry, as these services continue to replace legacy solutions in commercial sectors.”

    ZenaTech (NASDAQ:ZENA) Announces Listing of its Common Shares on the Mexican Stock Exchange – ZenaTech, Inc. (FSE: 49Q) (BMV: ZENA) (“ZenaTech”), a technology company specializing in AI (Artificial Intelligence) drone, Drone-as-a-Service (DaaS), enterprise SaaS and Quantum Computing solutions, announces that it its common shares are approved for listing and trading on the BMV: Bolsa Mexicana de Valores (Mexican Stock Exchange). The shares trade under the symbol “ZENA” on its International Quotation System (SIC), effective January 23, 2025.

    “As we continue to expand our business into new geographical markets, this additional listing on the Mexican Stock Exchange not only broadens our international exposure but provides increased liquidity for our shareholders. We look forward to sharing our story with Mexican investors as we continue to drive value for our shareholders,” said CEO Shaun Passley, Ph.D.

    In Additional ZENA News – ZenaTech Inc.’s (NASDAQ:ZENA) Acquires KJM Land Surveying LLC, a Second Acquisition to Accelerate Drone Innovation in Land Surveys and Establish a Southeast Base for its Drone as a Service Business – ZenaTech, a technology company specializing in AI (Artificial Intelligence) drone, Drone-as-a-Service (DaaS), enterprise SaaS and Quantum Computing solutions, announces that it has acquired KJM Land Surveying LLC, a well-established Pensacola Florida land survey engineering company with a long history and roster of repeat customers. This is ZenaTech’s second acquisition as part of a larger roll-up strategy to disrupt the land survey industry by accelerating the use of drones for speed, accuracy and innovation benefits. The acquisition will also form the base of the Southeast US region of its national Drone as a Service or DaaS business which utilizes drone solutions from its subsidiary company ZenaDrone.

    “Closing this second acquisition is another step in our Drone as a Service or DaaS strategy, establishing a Southeast base with an experienced team and customer relationships, which adds to our Northwest base and national rollout. We have the opportunity to significantly disrupt the land survey business at scale using drone technologies. We view our DaaS business model as similar as to how Uber disrupted the taxi industry,” said CEO Shaun Passley, Ph.D. “This acquisition, as well as the 20 others we have identified, have the potential to add accretive revenue over the short term as well as the long term.”

    The US Surveying and Mapping Services industry is estimated at $10.3 billion according to Business Research Insights, growing at least 3% annually. Remotely piloted drones with an array of sensors and cameras, LiDAR (Light Detection and Ranging), and GPS systems for capturing high-resolution pictures and data are revolutionizing the land survey industry gathering aerial data across expansive terrains in a matter of hours instead of weeks or months using traditional methods.   Continued… Read this full release by visiting: https://www.financialnewsmedia.com/news-zena/

    Other recent developments in the drone technology industry include:

    EHang Holdings Limited (NASDAQ: EH), the world’s leading Urban Air Mobility (“UAM”) technology platform company, recently announced the launch of its Exhibition (Experience) Center in Shenzhen’s Luohu Sports and Leisure Park. It is the world’s first EH216-S takeoff and landing site featuring a fully automated vertical lift vertiport. It also marks a new smart infrastructure in Shenzhen dedicated to the commercial operations of the EH216-S pilotless passenger-carrying aerial vehicle, establishing a groundbreaking model for electric vertical takeoff and landing (“eVTOL”) aircraft operations in urban areas.

    The Luohu UAM Center, designed by EHang, boasts an automated three-dimensional vertical lift vertiport. This innovative facility reduces labor costs and optimizes space usage through its automated operations. The Luohu UAM Center, spanning approximately 753 square meters, has brought this advanced design to life. The first floor is dedicated to a hangar and boarding area, providing passengers with a seamless and comfortable experience. The integrated takeoff and landing pad with the hangar enables rapid charging, thereby streamlining flight operations. During the launch ceremony on January 21, an EH216-S aircraft was lifted from the first to the second floor by the vertical lift platform. It then took to the skies, completing a lap over the Luohu Sports and Leisure Park before landing smoothly, marking its first flight at the Luohu UAM Center. The demonstration received widespread acclaim from attendees.

    Safe Pro Group Inc. (NASDAQ: SPAI) recently announced that its ballistics protection unit, Safe-Pro USA LLC (Safe-Pro USA) will be exhibiting at the upcoming SHOT Show 2025. The event is scheduled to take place from January 21-24, 2025, at the Venetian Expo and Caesars Forum in Las Vegas, Nevada. Safe-Pro USA will be exhibiting in the Palazzo Ballroom at booth #55939 on January 22nd and 23rd.

    The Shooting, Hunting and Outdoor Trade ShowSM (SHOT Show®) is one of the largest of its kind events for target shooting, hunting, outdoor recreation and law enforcement. The annual event, attracting more than 55,000 industry professionals from around the world, serves as a premier platform to showcase new products, engage in educational sessions, and forge valuable connections. At SHOT Show 2025, Safe-Pro USA will be displaying an array of new ballistic protective solutions designed for law enforcement. Highlighted by its ultra-lightweight and ultra-thin “305 PRO” hard armor plate, Safe-Pro USA will also display newly developed high-performance ballistic plates and vests compliant with the National Institute of Justice (NIJ) latest ballistic standard, NIJ 0101.07, all designed to offer enhanced protection for law enforcement and first responders against high-power rifle threats such as AR-15s and AK-47s.

    Ondas Holdings Inc. (NASDAQ: ONDS) recently announced that its Ondas Autonomous Systems Inc. (“OAS”) business unit’s Airobotics subsidiary has received a purchase order for its Iron Drone Raider from a major defense company. The order includes the integration and testing of new features required for defending from additional ground threats.

    “The Iron Drone Raider is a high performing, modular platform with AI-driven navigation and operating capabilities tailored to the most demanding defense requirements,” said Eric Brock, Chairman and CEO of Ondas. “Indeed, this versatility is allowing for expanded applications further expanding the potential market size for our Iron Drone platform. These new use cases meet an additional need identified by a governmental customer with the required performance and cost parameters. Securing this platform expansion highlights the exceptional talent and experience of our Airobotics team and the confidence our defense partners and customers have in Ondas.”

    During the third quarter of 2024, OAS secured several initial orders in the defense market, totaling approximately $14.4 million, which included several purchase orders totaling $9.0 million from a major government military customer for the Iron Drone Raider system. The Iron Drone Raider systems are being deployed as a core element of a multi-layered homeland security infrastructure to protect critical locations, assets and populations from the threat of hostile drones.

    Unusual Machines, Inc. (NYSE American: UMAC), a leading innovator in drone technology with a current focus on U.S. based manufacturing and marketing of drone parts recently announced the release of the Rotor Riot Brave 55A ESC and its addition to the Blue UAS Framework. This product addresses the critical need for non-Chinese, NDAA-compliant components in the U.S. drone industry. Unusual machines now has two drone components placed on the Blue UAS Framework.

    The Blue UAS Framework is a program established by the Defense Innovation Unit (DIU) to provide the Department of Defense and other government entities with trusted, secure drone components that meet rigorous cybersecurity, performance, and regulatory standards. Products listed on the framework ensure compliance with federal requirements, such as the National Defense Authorization Act (NDAA), reducing risks associated with foreign-made or unverified components. Inclusion in the Blue UAS Framework underscores Unusual Machines’ commitment to supplying reliable solutions for government and defense applications.

    About FN Media Group:

    At FN Media Group, via our top-rated online news portal at http://www.financialnewsmedia.com, we are one of the very few select firms providing top tier one syndicated news distribution, targeted ticker tag press releases and stock market news coverage for today’s emerging companies. #tickertagpressreleases #pressreleases

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    DISCLAIMER:  FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels.  FNM is NOT affiliated in any manner with any company mentioned herein.  FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security.  FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities.  The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material.  All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks.  All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release.  FNM is not liable for any investment decisions by its readers or subscribers.  Investors are cautioned that they may lose all or a portion of their investment when investing in stocks.  For current services performed FNM has been compensated fifty four hundred dollars for news coverage of the current press releases issued by ZenaTech, Inc. by the Company.  FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

    This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.

    Contact Information:

    Media Contact email: editor@financialnewsmedia.com – +1(561)325-8757

    SOURCE: FN Media Group

    The MIL Network –

  • MIL-OSI: Young Colombians Create the First Cryptocurrency to Enter Asia’s Largest Market, BitMart, with a Metaverse of Their City Medellín

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Jan. 24, 2025 (GLOBE NEWSWIRE) — Sparklife SPS has announced an ambitious project to recreate the city of Medellín, Colombia, in a metaverse built using Unreal Engine. This virtual world aims to integrate real-world economic value through the platform’s native cryptocurrency, SPSCoin.

    Within this metaverse, users will have the opportunity to explore virtual casinos and, in the near future, experience the video game La Oficina, which draws inspiration from Medellín’s vibrant neighborhoods. The game will allow players to engage in immersive activities that generate tangible profits in cryptocurrency.

    Cultural festivals, concerts, municipal councils and digital universities where you can learn with iA being your support, Virtual properties with dynamic NFT contracts.

    Additionally, users can establish their own virtual casinos equipped with crypto slot machines, earning rewards for every player who participates. The platform will support VR, PC, and mobile devices, ensuring a seamless and immersive experience across multiple platforms.

    Sparklife SPS is poised to blend cutting-edge technology with economic innovation, offering a unique intersection of the digital and real worlds.

    Media Contact:
    Sparklife
    Ceosparklife@villascapital.com.co

    The MIL Network –

  • MIL-OSI: Simplifying Crypto Payments: Introducing Bybit Pay

    Source: GlobeNewswire (MIL-OSI)

    DUBAI, United Arab Emirates, Jan. 24, 2025 (GLOBE NEWSWIRE) — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is excited to launch Bybit Pay, an innovative payment platform designed to seamlessly connect traditional finance with the digital economy. This new solution is about processing payments and building strategic partnerships that drive growth, innovation, and financial inclusion on a global scale.

    Bybit Pay is a next-generation payment solution designed to simplify transactions across fiat and cryptocurrencies. With seamless integration across websites, mobile apps, and point-of-sale (POS) systems, Bybit Pay empowers businesses to offer efficient, secure, and low-cost payment options to their customers. Whether it’s for online platforms, in-store purchases, or cross-border payments, Bybit Pay bridges the gap between traditional payment methods and the growing demand for digital financial services.

    Bybit Pay is happy to welcome more forward-thinking partners joining its ecosystem – businesses, payment providers, and service platforms looking to innovate and scale their operations in the evolving digital finance landscape. Partners gain access to:

    • A Global User Base: Instantly connecting with Bybit’s network of over 60 million global users.
    • Seamless Integration: Easily incorporating Bybit Pay into existing financial infrastructures and business systems.
    • Scalable Solutions: Growing with flexible, future-proof payment technologies designed to adapt to market needs.
    • Cross-Industry Collaboration: Unlocking opportunities through partnerships across e-commerce, traditional finance, and digital asset sectors.

    Empowering Businesses and Customers Alike

    For businesses, Bybit Pay offers the tools to drive potential revenue growth, reduce operational costs, and improve financial efficiency. At the same time, customers are able to benefit from faster transactions, lower fees, and the freedom to choose between fiat and cryptocurrency payment methods – creating a frictionless payment experience for all.

    A Vision for the Future

    Joan Han, Bybit’s Sales and Marketing Director, envisions a brighter future for payments, noting: “Bybit Pay represents a shift in how we connect businesses to the digital future. It’s more than a payment platform; it’s a call to partners to innovate and redefine transactions with solutions that are efficient, accessible, and forward-thinking.”

    The Future of Payments Starts Here

    Bybit Pay represents a new chapter in digital finance – where innovation, scalability, and reliability come together to create unparalleled opportunities for growth.

    #Bybit / #TheCryptoArk

    About Bybit

    Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open, and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.

    For more details about Bybit, please visit Bybit Press 

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

    For updates, please follow: Bybit’s Communities and Social Media

    Contact

    Head of PR

    Tony

    Bybit

    tony.au@bybit.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7c878034-d424-4c73-9f6b-1056a73a4449

    The MIL Network –

  • MIL-OSI: Relm Addresses Growing Risk of Crypto Exchange Bankruptcy with Innovative FALTAWEB3 Product Launch

    Source: GlobeNewswire (MIL-OSI)

    HAMILTON, Bermuda, Jan. 24, 2025 (GLOBE NEWSWIRE) — Relm Insurance (‘Relm’), the leading specialty insurance carrier supporting emerging and innovative industries, today announced the launch of FALTAWEB3, a bespoke risk transfer solution that asset managers, broker/dealers or custodians can purchase to give their customers peace of mind in the event that they are unable to withdraw funds from exchanges due to an ‘exchange default’.

    This first of its kind solution provides policyholder protection against exchange defaults, encompassing ‘insolvency, liquidation, bankruptcy, or halting of account withdrawals’. With the frequency of such events increasing in recent years, Relm has developed FALTAWEB3 to provide commercial customers of exchanges with more confidence to invest and trade.

    With over five years of experience insuring companies across the Web3 ecosystem, Relm’s underwriting team has developed a robust repository of underwriting and risk data specific to digital assets. For FALTAWEB3, Relm will harness its proprietary data alongside insights from Agio Ratings, a credit rating firm with an established record of assessing exchange default risk. Agio Ratings’ rigorous quantitative approach flagged high risk at FTX and several other exchanges that subsequently defaulted. “Exchange risk is notoriously difficult to hedge, even for the most sophisticated risk managers. We’re excited to support Relm’s vision to broaden access to coverage in the event of an exchange default,” said Ana de Sousa, CEO of Agio Ratings.

    “This new solution further solidifies our alignment with innovators in the digital asset space,” said Joseph Ziolkowski, Relm’s CEO and founder. “Insurance should be an enabling force for the maturing crypto economy. FALTAWEB3 was built from deep industry engagement, ensuring that we meet the unique needs of market participants handling significant volumes of fiat and crypto across exchanges.”

    To address this critical exposure with greater flexibility, Relm can also leverage its alternative reinsurance infrastructure to enable self-insurance options and the utilization of third-party capital to underwrite larger limits. Relm offers a bankruptcy-protected, turn-key captive insurance option for commercial entities reliant on exchanges, allowing them to participate in underwriting profits. Additionally, Relm can quickly establish reinsurance sidecars, deploying third-party capital — denominated in fiat or digital assets — to create regulated reinsurance capacity absent in the traditional market.

    “Through direct engagement with stakeholders and cutting-edge technology partners, Relm continues to redefine the possibilities of risk transfer solutions,” added Claire Davey, Relm’s Head of Product Innovation and Emerging Risk. “FALTAWEB3 exemplifies our commitment to identifying emerging risks and utilizing data-driven insights alongside regulated insurance infrastructure to create products that address gaps in the traditional insurance market and provide confidence to a growing digital asset economy.”

    This news comes after Relm announced the launch of its US MGA, licensed in 50 states, and the hiring of industry veteran Keith Lavigne as Head of Underwriting – US.

    About Relm Insurance
    Relm Insurance Ltd. (Relm) is a Bermuda-domiciled specialty insurance carrier supporting emerging industries that spur innovation and next generation technologies. Launched in 2019 to address the scarcity of insurance capacity available to these high growth markets, Relm plays an active role in bolstering the resilience of these innovative industries. Relm’s unrivaled industry expertise and solutions-driven track record makes it a highly sought-after risk partner for businesses and institutions operating at the forefront of Web3, digital assets, AI, and alternative medicine. Relm has earned a Financial Stability Rating of A, Exceptional, from Demotech. Please visit http://www.relminsurance.com for more information.

    About Agio Ratings
    Agio Ratings is a credit and risk analysis firm focused on the digital asset market. With a team of seasoned financial professionals, statisticians, and data scientists, it has developed proprietary risk models that capture the market’s unique and volatile risks factors. Agio Ratings is trusted by leading risk teams in the industry and backed by globally renowned investors, including Superscrypt, Portage, and MS&AD Ventures. For more information, please visit: https://www.agioratings.io/

    # # #

    Media Contact
    Yasmin Oronos | Account Execuctive 

    yasmin.oronos@lunapr.io

    The MIL Network –

  • MIL-OSI: BexBack Introduces 100x Leverage, Double Deposit Bonus, and $50 Welcome Bonus—A Game-Changer for Crypto Traders

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, Jan. 24, 2025 (GLOBE NEWSWIRE) — As Bitcoin’s price hovers around the $100,000 mark and enters a phase of high volatility, many analysts predict the market will remain active for the long term. For traders seeking to maximize profits under these conditions, BexBack Exchange has launched an unparalleled promotional package. The platform now offers a 100% deposit bonus, a $50 welcome bonus for new users, and 100x leverage on cryptocurrency trading—all while maintaining a No KYC policy, ensuring a seamless and private trading experience.

    Unleash the Power of 100x Leverage

    BexBack’s 100x leverage feature allows traders to control larger positions with smaller capital, offering significant profit potential. For instance:

    • If Bitcoin is priced at $100,000 and you open a position with 1 BTC using 100x leverage, your trade equates to 100 BTC.
    • If Bitcoin’s price rises to $105,000, your profit would be: (105,000−100,000)×100/100,000=5BTC, yielding a 500% return.

    Maximize Gains with the 100% Deposit Bonus

    The 100% deposit bonus is designed to double traders’ capital. For example:

    • Deposit 1 BTC and receive an additional 1 BTC as a bonus, enabling you to trade with 2 BTC. While the bonus cannot be directly withdrawn, it acts as extra margin, reducing liquidation risks during volatile markets.

    Why Choose BexBack?

    BexBack’s innovative features and user-centric approach set it apart:

    1. No KYC Policy: Start trading instantly with just an email—no lengthy verifications required.
    2. High Leverage: Trade with up to 100x leverage, amplifying your capital efficiency.
    3. Transparent Fees: Zero spreads and no slippage ensure precise trade execution.
    4. Comprehensive Accessibility: Available on both web and mobile platforms, offering 24/7 access.
    5. Global Reach: Accepts users from the United States, Canada, and Europe, and holds a US MSB license.
    6. Demo Account: Perfect for beginners, with 10 BTC in virtual funds to practice strategies risk-free.
    7. Affiliate Rewards: Earn up to 50% commission through the lucrative affiliate program.

    About BexBack

    BexBack is a global leader in cryptocurrency derivatives trading, offering perpetual contracts for BTC, ETH, ADA, SOL, and XRP with up to 100x leverage. Headquartered in Singapore, with offices in Hong Kong, Japan, the United States, the United Kingdom, and Argentina, BexBack is trusted by over 200,000 traders worldwide. The platform holds a US MSB license and is dedicated to providing a seamless trading experience with no deposit fees, 24/7 multilingual customer support, and advanced trading tools.

    Don’t Miss the Opportunity!

    With Bitcoin at $100,000, the cryptocurrency market is at a critical juncture. BexBack’s unbeatable bonuses and high-leverage offerings make it the ideal platform for traders looking to capitalize on this dynamic market.

    Sign up today on BexBack to claim your bonuses and start trading with the tools you need to succeed in the new era of cryptocurrency trading.

    Website: http://www.bexback.com

    Contact: business@bexback.com

    Contact:
    Amanda
    business@bexback.com

    Disclaimer: This content is provided by BexBack. 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.

    Photos accompanying this announcement are available at:

    https://www.globenewswire.com/NewsRoom/AttachmentNg/055bdd3e-9532-4205-b957-764c3c1b0717

    https://www.globenewswire.com/NewsRoom/AttachmentNg/665fdfca-e73b-4a8e-93ae-2ed294730a1a

    https://www.globenewswire.com/NewsRoom/AttachmentNg/8d1af240-ffb5-4c85-a9e6-939c54ed7a62

    https://www.globenewswire.com/NewsRoom/AttachmentNg/623cdedd-2b86-4a21-9833-8263886d659c

    The MIL Network –

  • MIL-OSI: Coolmuster iOS Assistant for Mac V5.0 Updated：Enhanced iPhone Manager on Mac

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Jan. 24, 2025 (GLOBE NEWSWIRE) — Coolmuster, a leading consumer software provider specializing in data management solutions for 10+ years, announces a significant update to Coolmuster iOS Assistant for Mac. This enhanced version synchronizes key features from the Windows version, optimizing user experience and enabling seamless management, transfer, and backup of iOS data on Mac computers.

    What’s New in Coolmuster iOS Assistant for Mac V5.0?

    The latest update introduces several key improvements:

    • Optimized Data Loading: Enhanced loading for SMS, memos, thumbnails, and voice memos accelerates transfers.
    • Improved Media Navigation: Refined iCloud thumbnail loading and image export with creation time for smoother media management.
    • Data Integrity Fixes: Resolved potential data loss issues when loading albums, ensuring safe photo management.
    • E-book Transfer Resolution: Fixed issues with transferring e-books to iOS devices.
    • iOS 18 Compatibility: Improved recognition of memos and voice memos, enhancing overall functionality.
    • Performance Enhancements: Addressed potential crashes and optimized performance for a more reliable user experience.

    “Our goal with the latest update was to enhance the user experience and ensure that managing iOS data on Mac is as seamless as possible,” said the Co-founder of Coolmuster. “We listened to our users’ feedback, and these improvements reflect our commitment to providing reliable and efficient tools for their digital lives.”

    Additionally, Coolmuster offers a suite of data management tools, including the Coolmuster Android Assistant, Coolmuster Mobile Transfer, Coolmuster iPhone Data Recovery and Coolmuster Lab.Fone for Android, offering efficient solutions for phone management, transfer and recovery.

    Compatibility and Pricing

    Supported Systems:

    • Windows OS: Windows 7 or newer
    • Mac OS: Mac OS X 10.9 or later
    • iOS: iOS 5.0 and above (including iOS 18)

    Pricing:

    • 1 Year License: Starting from $25.95 for 1 PC
    • Lifetime License: Starting from $35.95 for 1 PC
    • Business License: Starting from $35.95 for 2-5 PCs

    To celebrate the update and appreciate user trust, Coolmuster will host giveaways, offering free software and 20% discounts on selected products. Details can be found at Coolmuster Giveaways.

    About Coolmuster

    Established in 2013, Coolmuster is dedicated to developing powerful and user-friendly software for iOS, Android, Office, Utilities, and Multimedia. With over 2 million users in 160 countries, Coolmuster is committed to enhancing digital life through innovative technology and exceptional customer support.

    More information: https://www.coolmuster.com/

    The MIL Network –

  • MIL-OSI: Infrastructure Dividend Split Corp. Class A and Preferred Distributions

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Jan. 24, 2025 (GLOBE NEWSWIRE) — Infrastructure Dividend Split Corp. (TSX: IS and IS.PR.A) (the “Fund”) is pleased to announce that a distribution for January 2025 will be payable to Class A shareholders as follows:

    Record Date Payable Date Distribution Per Equity Share
    January 31, 2025 February 14, 2025 $0.14

    The Fund also announces the quarterly distribution for the period ending January 31, 2025, will be payable to preferred shareholders as follows:

    Record Date Payable Date Distribution Per Preferred Share
    January 31, 2025 February 14, 2025 $0.18


    The equity and preferred shares both trade on the Toronto Stock Exchange under the respective symbols IS and IS.PR.A.

    For further information, please visit our website at http://www.middlefield.com or contact Nancy Tham in our Sales and Marketing Department at 1.888.890.1868.

    This press release contains forward-looking information. The forward-looking information contained in this press release is based on historical information concerning distributions and dividends paid on the securities of issuers historically included in the portfolio of the Fund. Actual future results, including the amount of distributions paid by the Fund, may differ from the monthly distribution amount. Specifically, the income from which distributions are paid may vary significantly due to: changes in portfolio composition; changes in distributions and dividends paid by issuers of securities included in the Fund’s portfolio from time to time; there being no assurance that those issuers will pay distributions or dividends on their securities; the declaration of distributions and dividends by issuers of securities included in the portfolio will generally depend upon various factors, including the financial condition of each issuer and general economic and stock market conditions; the level of borrowing by the Fund; and the uncertainty of realizing capital gains. The risks, uncertainties and other factors that could influence actual results are described under “Risk Factors” in the Fund’s prospectus and other documents filed by the Fund with the Canadian securities regulatory authorities. The forward-looking information contained in this press release constitutes the Fund’s current estimate, as of the date of this press release, with respect to the matters covered hereby. Investors and others should not assume that any forward-looking statement contained in this press release represents the Fund’s estimate as of any date other than the date of this press release.

    The MIL Network –

  • MIL-OSI: FHLB Des Moines Announces 2025 Affordable Housing Advisory Council Appointments

    Source: GlobeNewswire (MIL-OSI)

    Des Moines, Iowa, Jan. 24, 2025 (GLOBE NEWSWIRE) — The Housing and Community Investment Committee of the Federal Home Loan Bank Des Moines (FHLB Des Moines) Board of Directors appointed one new individual and re-appointed four individuals to the FHLB Des Moines Affordable Housing Advisory Council (Advisory Council). The members are selected for their knowledge and experience providing or promoting affordable housing and community economic development within the FHLB Des Moines district. The Advisory Council is made up of 15 diverse members representing a variety of community-based and not-for-profit organizations.

    The role of the Advisory Council is to advise the FHLB Des Moines Board of Directors about the affordable housing and community lending needs of the Bank’s district.

    New appointee

    • Sharon Vogel, At Large – Executive Director of Cheyenne River Housing Authority on the Cheyenne River Sioux Reservation

    Re-appointed members

    • Mike Akerlow, Utah –Director of Housing and Community Development for the Mayor of Salt Lake County
    • Bob Peterson, Washington – Deputy Director of Washington State Housing Finance Commission
    • Kevin Bryant, Missouri – Executive Founder and Developer of Kingsway Development LLC, President of Kingsway Merchants District Association and CEO of Conversions Global Marketing
    • Renee Stevens, At Large – Executive Director of Open House Ministries in Vancouver, WA

    “I look forward to working with Sharon Vogel and the re-appointed members. Each bring a depth of expertise and experience that enriches the Advisory Council,” says Jennifer Ernst, FHLB Des Moines Community Investment director. “We are fortunate to have such a diverse Advisory Council that provides valuable perspectives and insights about ways FHLB Des Moines can support the affordable housing and community development needs in its district.”

    For a full list of the FHLB Des Moines Advisory Council members, please visit our website.

    # # #

    The Federal Home Loan Bank of Des Moines is deeply committed to strengthening communities, serving 13 states and three U.S Pacific territories as a member-owned cooperative. We work together with more than 1,200 member institutions to support affordable housing, economic development and community improvement.  

    FHLB Des Moines is one of 11 regional Banks that make up the Federal Home Loan Bank System. Members include community and commercial banks, credit unions, insurance companies, thrifts and community development financial institutions. The Des Moines Bank is wholly owned by its members and receives no taxpayer funding.

    The MIL Network –

  • MIL-OSI: Fidelity D & D Bancorp, Inc. First Quarter 2025 Dividend

    Source: GlobeNewswire (MIL-OSI)

    DUNMORE, Pa., Jan. 24, 2025 (GLOBE NEWSWIRE) — The Board of Directors of Fidelity D & D Bancorp, Inc. (NASDAQ: FDBC), parent company of The Fidelity Deposit and Discount Bank, announce their declaration of the Company’s 2025 first quarter dividend of $0.40 per share, a 5% increase above the prior year’s first quarter dividend paid of $0.38 per share. The dividend is payable March 10, 2025 to shareholders of record at the close of business on February 14, 2025.

    Fidelity D & D Bancorp, Inc. serves Lackawanna, Luzerne, Northampton and Lehigh Counties through The Fidelity Deposit and Discount Bank’s 21 full-service community banking offices, along with the Fidelity Bank Wealth Management Minersville Office in Schuylkill County. Fidelity Bank provides a digital and virtual experience via digital services and digital account opening through Online Banking and the Fidelity Mobile Banking app.

    For more information visit our investor relations web site through http://www.bankatfidelity.com.

    This press release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results and trends could differ materially from those set forth in such statements due to various factors. These factors include the possibility that increased demand or prices for the company’s financial services and products may not occur, changing economic, interest rate and competitive conditions, technological developments and other risks and uncertainties, including those detailed in the company’s filings with the Securities and Exchange Commission.
     
    Contacts:              
    Daniel J. Santaniello
    President and Chief Executive Officer
    570-504-8035    		   Salvatore R. DeFrancesco, Jr.
    Treasurer and Chief Financial Officer
    570-504-8000
         

    The MIL Network –