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Category: GlobeNewswire

  • MIL-OSI: LPL Financial Welcomes Financial Advisor William Fenwick

    Source: GlobeNewswire (MIL-OSI)

    SAN DIEGO, Oct. 22, 2024 (GLOBE NEWSWIRE) — LPL Financial LLC, announced today that financial advisor William “Bill” Fenwick of Fenwick Financial has joined LPL Financial’s broker-dealer, RIA and custodial platforms. He reported serving approximately $210 million in advisory, brokerage and retirement plan assets,* and joins LPL from First Kentucky Securities.

    Based in Louisville, Ky., Fenwick is a retired U.S. Marine Corps officer with 38 years of experience in the financial services industry. He believes his military experience, coupled with his astute study of the markets and economy, shaped his ability to guide clients through market fluctuations and build personal relationships that extend across generations.

    “The leadership skills and sense of responsibility gained from serving in the Marine Corps overlap into financial services,” Fenwick said. “Veterans in our industry tend to have a deeper understanding of service and advocacy, which is the foundation for a fiduciary-focused investment practice. I enjoy educating my clients and making a difference in their lives by providing advice and counseling them on important financial decisions.”

    Although Fenwick was a founding member and part owner of First Kentucky Securities, a regional brokerage firm, he came to realize his business needs and client expectations were outgrowing the firm. He sought a new partner to take his business to the next level, and his due diligence process led him to LPL.

    “The industry has gone through significant change over the past decades. What was once a focus on sales has now shifted to prioritizing the client’s needs,” said Fenwick, who is supported by his wife, Karen, and registered assistant Patricia Hughes. “The fiduciary standard is something I’ve been drawn to from the start. I am committed to serving my clients as an advisor and investment manager with their best interests at heart, offering a foundation of honesty and integrity. The longevity of my practice is a testament to the confidence my clients have in me and my team.”

    He added, “The shared mission and dedication to client service at LPL resonate with our own, and we are proud to be associated with a partner of such high caliber. LPL’s commitment to providing advisors with the resources and support they need to be successful was a key factor in my decision to make this move. I look forward to continuing to grow my practice and to helping my clients pursue their financial goals.”

    With an eye to the future, Fenwick said the move was not merely a strategic decision for his practice today, but also a foundational one for its future. His son, William “Trey” Fenwick, III, recently returned from his service in the U.S. Army Special Forces (Green Beret) and plans to join the practice in the coming months, helping to ensure clients are taken care of for generations to come.

    Scott Posner, LPL Executive Vice President, Business Development, said, “We welcome Bill to LPL and thank him for his many years of military service. The acceleration of advisors moving to LPL from regional firms is a testament to the strong support we provide to help financial professionals realize their growth and succession plans. We look forward to supporting Bill’s team and their goals for the future as they build out a generational practice with clients top of mind.”

    Related

    Advisors, learn how LPL Financial can help take your business to the next level.

    About LPL Financial

    LPL Financial Holdings Inc. (Nasdaq: LPLA) was founded on the principle that LPL should work for advisors and institutions, and not the other way around. Today, LPL is a leader in the markets we serve, serving more than 23,000 financial advisors, including advisors at approximately 1,000 institutions and at approximately 580 registered investment advisor firms nationwide. We are steadfast in our commitment to the advisor-mediated model and the belief that Americans deserve access to personalized guidance from a financial professional. At LPL, independence means that advisors and institution leaders have the freedom they deserve to choose the business model, services and technology resources that allow them to run a thriving business. They have the flexibility to do business their way. And they have the freedom to manage their client relationships, because they know their clients best. Simply put, we take care of our advisors and institutions, so they can take care of their clients.

    Securities and Advisory services offered through LPL Financial LLC (“LPL Financial”), a registered investment advisor. Member FINRA/SIPC. LPL Financial and its affiliated companies provide financial services only from the United States. Fenwick Financial and LPL are separate entities.

    Throughout this communication, the terms “financial advisors” and “advisors” are used to refer to registered representatives and/or investment advisor representatives affiliated with LPL Financial.

    We routinely disclose information that may be important to shareholders in the “Investor Relations” or “Press Releases” section of our website.

    *Value approximated based on asset and holding details provided to LPL from end of year, 2023.

    Media Contact: 
    Media.relations@LPLFinancial.com 
    (704) 996-1840

    Tracking #645012

    The MIL Network –

  • MIL-OSI: Nokia opens regional Innovation Center in Morocco to serve EMEA customers

    Source: GlobeNewswire (MIL-OSI)

    Press Release

    Nokia opens regional Innovation Center in Morocco to serve EMEA customers

    • Nokia launches its first Innovation Center in Africa and the Middle East, equipped with cutting-edge technologies from its entire Network Infrastructure portfolio, including Fixed, IP, and Optical Networks.
    • The center will benefit and contribute to Digital Morocco 2030 by playing a pivotal role in advancing digital skills and supporting 5G readiness across Europe, Middle East and Africa (EMEA).
    • The event is also an opportunity to showcase some of Nokia’s latest innovations for major football events.

    22 October 2024
    Salé, Morocco – Nokia today announced the opening of its Innovation Center in Salé, Morocco, officiated by Ghita Mezzour, Minister of Digital Transition and Administration Reform.

    Designed as a regional hub to serve EMEA, the Nokia Innovation Center (NIC) is equipped with advanced technologies from Nokia’s entire Network Infrastructure portfolio, spanning Fixed Networks, IP, and Optical Networks. The NIC will not only benefit but also contribute to Digital Morocco 2030 by playing a pivotal role in advancing digital skills, supporting 5G readiness and fostering innovation across EMEA.

    As the first of its kind in the MEA region, the NIC features a comprehensive range of technologies, including IP, optical transport and fiber solutions, housed within a state-of-the-art data center. This facility supports diverse use cases from 5G mobile backhaul to data center fabric and security, and will be a focal point for innovation in critical network technologies, enabling testing, verification, deployment and training of advanced solutions across the EMEA region.

    Beyond technology, the NIC strengthens Nokia’s role within Morocco’s ICT ecosystem by offering practical training to engineering schools and universities. This collaborative platform not only nurtures local engineering talent through certification programs like Service Routing Architect (SRA) and Network Routing Specialist (NRS II) but also provides Gen-AI integration tools using natural language thus contributing to the upskilling and reskilling of young Moroccan talent, aligning with Morocco’s 2030 digital vision.

    The inauguration event was also an opportunity to showcase state-of-the art solutions demonstrating Nokia’s capabilities and determination to support Morocco’s ambitions in hosting major football events.

    Mrs. Ghita Mezzour, Minister of Digital Transition and Administration Reform, said: “The opening of Nokia’s Innovation Center in Morocco is a testament to our country’s ability to attract leading global technology companies and foster innovation. This center will not only enhance our position as a regional hub for digital services across EMEA but will also play a crucial role in developing local talent. By aligning with Digital Morocco 2030, the center contributes to our efforts in advancing STEM education, equipping our youth with the skills they need to thrive in the digital economy, and supporting our nation’s 5G readiness and technological future.”

    Pierre Chaume, Vice President of North, West and Central Africa for Network Infrastructure at Nokia, said: “We are proud to establish this Innovation Center in Morocco, which will serve our customers and partners in the EMEA region and contribute to the development of local talent and the broader digital ecosystem, in line with Digital Morocco 2030. This center underscores our commitment to innovation, sustainability, and the growth of critical networks that drive digital transformation across industries.”

    Resources and Additional Information:
    Webpage: Fixed networks
    Webpage: IP networks
    Webpage: Optical networks

    About Nokia:
    At Nokia, we create technology that helps the world act together.

    As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs.

    With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future.

    Media inquiries
    Nokia Communications, Middle East and Africa
    Email: cordia.so@nokia.com

    Nokia Press Office
    Email: Press.Services@nokia.com

    Follow us on social media
    LinkedIn X Instagram Facebook YouTube

    The MIL Network –

  • MIL-OSI: Gabelli Utility Trust Rights Offering Concludes Raising $58 Million

    Source: GlobeNewswire (MIL-OSI)

    RYE, New York, Oct. 22, 2024 (GLOBE NEWSWIRE) — The Gabelli Utility Trust (NYSE: GUT) (the “Fund”) is pleased to announce the successful completion of its transferable rights offering (the “Offering” or “Offer”). Preliminary results indicate that the Fund will issue 11,624,109 common shares, for gross proceeds to the Fund of $58,120,545 (including over-subscription requests and notices of guaranteed delivery).

    Pursuant to the Offering, the Fund issued one transferable right (a “Right”) for each common share of the Fund held by shareholders of record as of September 9, 2024 (“record date shareholders”). Holders of Rights were entitled to purchase common shares by submitting five Rights and $5.00 for each share to be purchased (the subscription price). The Offering expired at 5:00 PM Eastern Time on October 21, 2024 and the Rights no longer trade on the New York Stock Exchange.

    Subject to approval of the over-subscription privilege by the Board of Trustees’ pricing committee, the over-subscription shares will be allocated in full among those fully exercising record date shareholders who over-subscribed in the Offering.

    The new common shares subscribed for will be issued on or about October 25, 2024.

    Any common shares issued as a result of the Offering will be eligible for the Fund’s monthly distribution to be paid on November 21, 2024 to shareholders of record on November 14, 2024 but will not be record date shares for the Fund’s monthly distribution to be paid on October 24, 2024 and will not be entitled to receive such distribution.

    We thank all our subscribing shareholders as well as the full service brokers and financial advisers who assisted our shareholders throughout the Offering.

    The information herein is not complete and is subject to change. This document is not an offer to sell these securities and is not soliciting an offer to buy these securities in any jurisdiction where the offer or sale is not permitted. This document is not an offering, which can only be made by a final prospectus. Investors should consider the Fund’s investment objective, risks, charges and expenses carefully before investing. The base prospectus contains this and additional information about the Fund and the prospectus supplement contains this and additional information about the Offering. For further information regarding the Offering, or to obtain a prospectus supplement and the accompanying prospectus, please contact the Fund at 800-GABELLI or 914-921-5070.

    About The Gabelli Utility Trust

    The Gabelli Utility Trust is a diversified, closed-end management investment company with $362 million in total net assets, after giving effect to the Offering and assuming the over-subscription privilege is exercised, whose primary investment objective is to seek long-term growth of capital and income by investing primarily in utility companies involved in the generation and distribution of electricity, gas, and water. The Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (OTCQX: GAMI).

    NYSE – GUT
    CUSIP – 36240A101

    For information:
    David Schachter
    (914) 921-5057

    Investor Relations Contact:
    David Schachter
    (914) 921-5057
    dschachter@gabelli.com

    The MIL Network –

  • MIL-OSI: Exclusive Markets Honoured with “Top Trusted Financial Institution in the Financial Markets” Award in 2024

    Source: GlobeNewswire (MIL-OSI)

    DUBAI, United Arab Emirates, Oct. 22, 2024 (GLOBE NEWSWIRE) — Exclusive Markets, a globally celebrated online multi-asset trading platform, has been awarded the prestigious title of Top Trusted Financial Institution in the Financial Markets, by Top 100 Trusted Financial Institutions at the Middle East Financial Markets Awards Ceremony 2024 | 2ndedition, held in Dubai. This recognition marks yet another milestone in the company’s continued journey of excellence and trust-building within the financial industry.

    Trust is the cornerstone of Exclusive Markets’ operations. As a financial institution operating in highly dynamic and complex global markets, the company has consistently prioritised transparency, integrity, and reliability in every aspect of its service. From secure trading platforms to customer-first policies, Exclusive Markets has set itself apart by fostering a deep sense of trust among its clients, enabling them to confidently navigate the world of trading.

    While receiving the award, Lambros Lambrou, CEO of Exclusive Markets, expressed his gratitude for this recognition, stating, “At Exclusive Markets, trust isn’t just a value, it’s a fundamental part of who we are. Receiving the ‘Top Trusted Financial Institution’ award is an incredible honour and a reflection of our ongoing efforts to ensure our clients and partners feel secure and supported at every step of their trading journey.”

    This award highlights the growing importance of trust in the financial markets, especially as traders seek reliable partners in an increasingly complex landscape. As Exclusive Markets continues to evolve and innovate, its commitment to fostering trust will remain at the forefront of its mission, paving the way for continued growth and success in the global financial arena.

    About Exclusive Markets

    Exclusive Markets is dedicated to providing traders with a robust, secure, and transparent platform for investing in a variety of financial instruments. With a focus on cutting-edge technology and holding ISO/IEC 27001:2013 Certification by MSECB, Exclusive Markets offers traders an exceptional platform that seamlessly integrates advanced features with user-friendly interfaces.

    Traders can access a wide array of trading instruments, including CFD stocks, commodities, forex, and spot metals. The company’s expert team is committed to meeting the evolving needs of its clients by continually expanding its range of products and services, allowing traders to invest according to their preferences.

    Risk Warning: Trading involves risk.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6274d2b5-b001-47e1-bf0d-224d1e190174

    The MIL Network –

  • MIL-OSI: Acceleware Selected to Attend the Chile-Canada Mining Innovation Summit

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, Oct. 22, 2024 (GLOBE NEWSWIRE) — Acceleware Ltd. (“Acceleware” or the “Company”) (TSX-V: AXE), a leading innovator of transformative technologies targeting the decarbonization of industrial process heat, is very pleased to announce that it is one of 10 companies selected by The Mining Innovation Commercialization Accelerator (MICA) and by Chilean mining operators to attend the Chile-Canada Mining Innovation Summit (CCMIS) on October 24, 2024 in Santiago, Chile. In addition, Acceleware will participate in Global Mining Group’s (GMG) Santiago Forum, “Igniting Action: Building the Mines of The Future Today” on October 22- 23, 2024.

    The intent of CCMIS is to focus on accelerating the adoption of new technologies and sustainable practices in mining and is ideally suited for Acceleware to present potential benefits of EM Powered Heat to operators and mining equipment innovators active in Chile. As part of the commitment under the Canada/Chile memorandum of understanding signed at the Prospectors & Developers Association of Canada (PDAC) 2024 conference in Toronto, the CCMIS summit will enable Canada to leverage its leadership in Chile’s world-class mining industry. This collaboration will promote the sustainable use of natural resources and uphold Canada’s position as a leader in clean, efficient technologies and smart mining innovations.

    “Acceleware is very excited to be heading to Santiago, Chile for these two events, where we will have the opportunity to network with mining companies and innovators including BHP, Codelco, Glencore, Teck, Hatch, South32, Anglo Gold and others. These events are specifically focused on bringing together operators and innovators who are actively working to evaluate decarbonization opportunities and deploy electrification technologies like ours,” said Geoff Clark, Chief Executive Officer. “We see a significant opportunity for our mining decarbonization technologies to be of interest there, especially given that Chile is the world’s largest copper producer with one third of world production and reserves, and is also a leading producer of molybdenum, gold, silver and lithium.”

    In addition to having the opportunity to showcase its technology and solutions, Acceleware will also engage in pre-arranged meetings with Chilean mine operators, integrators and industry leaders. MICA will share an update on collaboration or pilot projects that result from the CCMIS initiative at PDAC 2025 in Toronto.

    About Acceleware
    Acceleware is an advanced electromagnetic (EM) heating company with highly scalable EM solutions for large industrial applications. The Company’s solutions provide an opportunity to economically electrify and decarbonize industrial process heat applications previously considered difficult to abate, which could have a significant impact on global GHG emissions.

    Acceleware is piloting RF XL, its patented low-cost, low-carbon EM thermal production technology for heavy oil and oil sands that is materially different from any heavy oil recovery technique used today. The Company is also working with a consortium of world-class potash partners on a pilot project using its patented and field proven Clean Tech Inverter (CTI) to decarbonize drying of potash ore and other minerals. Acceleware is actively developing partnerships for EM heating of other industrial applications in mining, steel, agriculture, cement, hydrogen and other clean fuels.

    Acceleware and Saa Dene Group (co-founded by Jim Boucher) have created Acceleware | Kisâstwêw to raise the profile, adoption, and value of Acceleware technologies. The partnership is intended to improve the environmental and economic performance of industry by supporting ideals that are important to Indigenous peoples, including respect for land, water, and clean air.

    Acceleware is a public company listed on Canada’s TSX Venture Exchange under the trading symbol “AXE”.

    About MICA
    MICA was created on July 9, 2021 through an investment of $40 million from the Government of Canada’s Strategic Innovation Fund. MICA is a $112.4 million pan-Canadian initiative bringing together stakeholders from a wide range of fields to accelerate the development and commercialization of innovative technologies to make the mining sector more productive and sustainable.

    Disclaimers

    This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, “anticipates”, “plans”, “continues”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations or negatives of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might”, “shall” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.

    In this news release, forward-looking statements relate to, among other things, statements relating to the benefits of CTI electrification, and future development plans and timing. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Company. The material facts and assumptions include initial studies of applicability of CTI technology to industrial applications are accurate, third party estimates of market size are correct, and the timeline estimates are reasonable. Actual results may vary from the forward-looking information in this news release due to certain material risk factors. The Company cautions the reader that the above list of risk factors is not exhaustive and additional risk factors risk factors are described in detail in Acceleware’s continuous disclosure documents, which are filed on SEDAR at http://www.sedar.com. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Due to the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

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

    For further information:
    Geoff Clark, CEO
    Tel: +1 (403) 249-9099
    geoff.clark@acceleware.com
    Acceleware Ltd.
    435 10th Avenue SE
    Calgary, AB, T2G 0W3 Canada
    Tel: +1 (403) 249-9099
    http://www.acceleware.com

    The MIL Network –

  • MIL-OSI: Risk Strategies Acquires George W. Blaisdell Insurance

    Source: GlobeNewswire (MIL-OSI)

    BOSTON, Oct. 22, 2024 (GLOBE NEWSWIRE) —  Risk Strategies, a leading national specialty insurance brokerage and risk management firm, today announced the acquisition of George W. Blaisdell Insurance, a well-established agency focused on employee benefits based in Hampton Falls, NH. The acquisition further enhances the presence and capabilities of the Risk Strategies Employee Benefits Practice in its New England region. Terms of the deal were not announced.

    Founded in 1988 by its principal, George W. Blaisdell, the agency has been a successful, specialized provider of employee benefits insurance and related services to clients across the New England region. The agency primarily specializes in designing and delivering group benefit plans to employers of all sizes. It also offers individual health and Medicare supplements, as well as 401k services.

    “We are excited to welcome George W. Blaisdell Insurance to the Risk Strategies family,” said John Greenbaum, National Employee Benefits Practice Leader, Risk Strategies. “Their expertise and strong reputation in the employee benefits space align perfectly with our strategic goals. We look forward to using our combined strengths to build new business and deliver exceptional value to our clients.”

    Company founder George W. Blaisdell brings over 35 years of experience and specialty expertise in providing clients with expert guidance and robust employee benefits plans. With a diverse client base throughout New England across various industries, Blaisdell is dedicated to designing and delivering group plans tailored to meet the unique needs of organizations of all sizes.

    “Joining Risk Strategies is a significant milestone for our agency,” said Blaisdell. “With their resources and support, we can continue to grow and provide our clients with even better service and solutions. We are thrilled to become part of such a dynamic specialty organization.”

    Blaisdell is the second benefits-focused addition to the Risk Strategies National Benefits Practice in the New England Region this year. In June, it was announced that Risk Strategies had acquired Baker Benefit Group, with operations in Maine and Connecticut.

    Additionally, Risk Strategies made two other benefits-focused acquisitions in 2023: Connecticut-based May, Bonee & Clark in April and Massachusetts-based Strategic Benefit Solutions in September.

    Other notable acquisitions in the New England region in recent years include Gerard B. Tracy Associates in 2019, CBG Benefits in 2018, and Mosse & Mosse Associates in 2017.

    “We have one of the industry’s most knowledgeable employee benefits practice,” said Ed Flanagan, New England Region Leader, Risk Strategies. “Adding Blaisdell to the group is further demonstration of our commitment to deepening this expertise at all levels of the organization.”

    To learn more about Risk Strategies, please visit riskstrategies.com.

    About Risk Strategies

    Risk Strategies, part of Accession Risk Management Group, is a North American specialty brokerage firm offering comprehensive risk management services, property and casualty insurance and reinsurance placement, employee benefits, private client services, consulting services, and financial & wealth solutions. The 9th largest U.S. privately held broker, we advise businesses and personal clients, have access to all major insurance markets, and 30+ specialty industry and product line practices and experts in 200+ offices – Atlanta, Boston, Charlotte, Chicago, Dallas, Grand Cayman, Kansas City, Los Angeles, Miami, Montreal, Nashville, New York City, Philadelphia, San Francisco, Toronto, and Washington, DC. RiskStrategies.com

    Media Contact:

    Brittany Gould

    Senior Account Executive

    rsc@matternow.com

    978.518.4506

    The MIL Network –

  • MIL-OSI: Amfeltec Adds New M.2 PCIe Gen 3 SSD with Batteryless System Logger and Watchdog Timer to its Arowana and PocketShark Families

    Source: GlobeNewswire (MIL-OSI)

    STOUFFVILLE, Ontario, Oct. 22, 2024 (GLOBE NEWSWIRE) — Amfeltec Corporation announced today the release of the latest addition to its Arowana PCIe SSD Board Family(TM) and its PocketShark Product Family(TM). The M.2 PCI Express Gen 3 SSD with Batteryless System Logger and Watchdog Timer is now in full production (hereafter referred as the Device).

    “The main considerations for creating any embedded systems are cost, size and robustness of operation. The nature of embedded applications often requires operation without human interaction, sometimes in the field and with limited access to technical support,” said Michael Feldman, President and CTO of Amfeltec Corp. “With this new product, we are targeting two market segments: IoT and embedded applications.”

    The device combines three independent components:

    1. PCIe Gen 3 SSD is for data and program code storage.
    2. Batteryless System Logger is for recording both system and environmental data of the host and its surroundings.
    3. Watchdog Timer is for automatically rebooting or performing ‘cold’ restart of the system.

    The implementation of this triple-components device is in the standard M.2 22110 (M-key) form factor.

    PCIe Gen 3 SSD
    This first component is a single-chip solution with x4 PCI Express upstream interface, providing embedded systems 128 GB of non-volatile memory; and offering maximum performance, including a read transfer rate of 2,013 MB/sec and write transfer rate of 1,822 MB/sec.

    Batteryless System Logger
    This second component captures system information through a USB port; and gathers environmental information via multiple internal sensors that measure ambient temperature, air pressure, humidity, shock and vibration. All data is continuously recorded to the logger’s non-volatile memory during normal operation. In the event of a system crash or power outage, the logger preserves the data, ensuring it remains accessible for troubleshooting or analysis.

    Watchdog Timer
    This third component can automatically reboot a computer, embedded appliance, or IoT device, in the event of freezing or system crash. This is achieved by sending a RESET signal. If the system remains unresponsive, the system’s power supply is toggled OFF-ON to initiate a ‘cold’ restart – without affecting the logger’s operation.

    “Integrating all three key components into single device makes any embedded system more compact. The M.2 form factor allows for easy integration into any motherboard; supports recovery in the event of operation-critical disruptions; and enables monitoring of the system performance and environmental data for future failure analysis,” added Michael Feldman. “All these functions operate 24/7 without requiring any additional power, such as a battery, and without human interaction. This is a cost-effective solution that significantly increases the reliability of any system.”

    The device requires no driver for operation and can be configured using a Linux software utility. It operates at industrial temperature rates (-40°C to +85°C) and requires no service or maintenance throughout its lifetime (over 10 years).

    For additional information, please visit the product page:
    https://www.amfeltec.com/m2-pci-express-gen-3-ssd-with-batteryless-watchdog-timer/

    About Amfeltec Corporation:
    Amfeltec is a Canadian electronics engineering company, incorporated in 2005. It is a leading provider of complex and innovative solutions for the world’s diverse electronics markets. All Amfeltec products are designed and manufactured in Canada, and most are covered by one or more United States patents. Notable Amfeltec product families include the Squid Carrier Board(TM), Piranha USB Telecom Adapter(TM), Arowana PCIe SSD Board(TM), AngelShark Carrier Board(TM) and PocketShark(TM) Batteryless System Loggers.

    Contact Information
    Peter Suslik
    T: 1.905.604.6438 x112
    F: 1.905.604.6439
    p.suslik@amfeltec.com
    http://www.amfeltec.com

    The MIL Network –

  • MIL-OSI: Inc. Names Virtru as a 2024 Power Partner Award Winner for Third Consecutive Year

    Source: GlobeNewswire (MIL-OSI)

    WASHINGTON, Oct. 22, 2024 (GLOBE NEWSWIRE) — Inc., the leading media brand and playbook for the entrepreneurs and business leaders shaping our future, today announced its third annual Power Partner Awards. The prestigious list honors B2B organizations across the country that have proven track records supporting entrepreneurs and helping startups grow. This year’s list recognizes Virtru among 359 companies in technology, marketing and advertising, health and wellness, financial services, legal, logistics, public relations, and productivity, as well as other critical areas of business.

    This marks Virtru’s third consecutive year winning the award. As a leader in data-centric security solutions, Virtru continues to empower organizations worldwide with its innovative approach to secure collaboration. The Virtru Data Security Platform enables businesses to maintain control over their sensitive information throughout its lifecycle, regardless of where it travels. Virtru meets customers where they digitally reside through integrations with the most common productivity suites, including Google Workspace, Google Cloud, Microsoft 365, and SaaS apps like Zendesk.

    “Being recognized as an Inc. Power Partner for three years straight is a testament to the Virtru team’s unwavering commitment to our customers’ success in data protection,” said John Ackerly, CEO of Virtru. “Our customers are committed to respecting and protecting the data they share, moving beyond the traditional, perimeter-focused ways of thinking about security and realizing the value of micro-security solutions that protect each and every data object. We are thrilled to be a part of this journey with our customers and partners.”

    Every company on the Inc. Power Partner award list received top marks from clients for being instrumental in helping leadership navigate the dynamic world of startups. These B2B partners support entrepreneurs across various facets of the business, including hiring, compliance, infrastructure development, cloud migration, fundraising, etc., allowing founders to focus on their core missions.

    “This is our definitive listing of vendors and suppliers who have demonstrated excellence in serving small- and midsize customers,” says Inc. editor in chief Mike Hofman. “As part of the vetting process, our team of editors, researchers and reporters gathered information on companies’ products and services, assessed their reputation as captured in online comments and forums, and collected customer testimonials to ensure that the sales pitch matches the actual client experience. In every case, we spoke to founders like you who were happy to attest to a vendor’s genuine commitment to a mutually beneficial business partnership. We’re happy to be the conduit for that positive word of mouth.”

    To view the complete list, go to: https://www.inc.com/power-partner-awards/2024

    The November 2024 Issue of Inc. magazine is available online now at https://www.inc.com/magazine and will be on newsstands beginning October 29, 2024.

    About Inc.
    Inc. is the leading media brand and playbook for the entrepreneurs and business leaders shaping our future. Through its journalism, Inc. aims to inform, educate, and elevate the profile of our community: the risk-takers, the innovators, and the ultra-driven go-getters who are creating our future. Inc.’s award-winning work achieves a monthly brand footprint of more than 40 million across a variety of channels, including events, digital, print, video, podcasts, newsletters, and social media. Its proprietary Inc. 5000 list, produced every year since its launch as the Inc. 100 in 1982, analyzes company data to rank the fastest-growing privately held businesses in the United States. The recognition that comes with inclusion on this and other prestigious Inc. lists, such as Female Founders and Power Partners, gives the founders of top businesses the opportunity to engage with an exclusive community of their peers, and credibility that helps them drive sales and recruit talent. For more information, visit http://www.inc.com.

    About Virtru
    At Virtru, we empower organizations to easily unlock the power of data while maintaining control everywhere it’s stored and shared. More than 6,700 global customers trust Virtru to power their data-centric, Zero Trust strategies and safeguard their most sensitive data in accordance with the world’s strictest security standards. Leading providers of TDF (Trusted Data Format), the open industry standard for persistent data protection, Virtru provides encryption technology for data shared through email, collaboration tools, cloud environments, and enterprise SaaS applications. For more information, visit virtru.com.

    Contact
    Nick Michael
    Virtru
    nick.michael@virtru.com

    The MIL Network –

  • MIL-OSI: River launches Bitcoin Interest on Cash: For the first time ever investors can hold dollars and earn bitcoin safely

    Source: GlobeNewswire (MIL-OSI)

    COLUMBUS, Ohio, Oct. 22, 2024 (GLOBE NEWSWIRE) — River, the most trusted U.S. Bitcoin exchange, announces the launch of Bitcoin Interest on Cash, a groundbreaking product where you can earn a high yield interest rate on cash deposits, that can be paid in bitcoin1. Bitcoin Interest on Cash is set to redefine how you save and build wealth, offering both security and opportunity in a volatile economic environment.

    Key features of Bitcoin Interest on Cash:

    • Earn 3.8%1 interest on cash, which can be paid in bitcoin1.
    • Your cash is FDIC insured up to $250,000, and all bitcoin is held in full-reserve custody.
    • There are no hidden fees or minimums.
    • Your cash can be withdrawn at any time.

    Disrupting traditional savings accounts
    Savings accounts can’t keep up with inflation anymore, and this is causing them to lose value over time. River Bitcoin Interest on Cash breaks from this trend by offering you the opportunity to grow your savings faster than inflation.

    “In a world where traditional savings accounts are unable to fully protect your wealth, Bitcoin Interest on Cash offers a new path forward. By combining the predictability of cash with the opportunity of bitcoin, we’re empowering you to take control of your financial future and earn more money for the things that matter.” — Alex Leishman, CEO of River

    The future of saving, powered by bitcoin
    By earning an asset with a proven track record of high returns, River is giving you the opportunity to grow your savings far beyond 3.8%1. In the last two years, Bitcoin Interest on Cash would have earned 16 times2 more than the average savings account.

    The best of both worlds: Earn bitcoin on FDIC-insured cash
    In the past, crypto companies have offered products that attempted to generate yield on bitcoin. Those failed. At River, we never put your bitcoin at risk. Bitcoin Interest on Cash earns yield on cash, not on bitcoin. River protects your assets with FDIC-insured cash, up to $250,000, and bitcoin that is always held in full reserve.

    About River
    River is a premier US-based, bitcoin-only financial services company dedicated to providing the most secure and transparent platform for investing in bitcoin. The company is fully licensed and regulated in the United States and adheres to strict compliance standards to ensure the security and transparency of its operations.

    River was founded with a mission to build the world’s most trusted institution to empower people to take ownership of their financial lives through Bitcoin, the world’s only incorruptible digital currency. The company launched River Proof of Reserves, allowing clients to independently verify that 100% of their Bitcoin deposits are held in full reserve. By combining robust security measures with a simple user experience, River empowers individuals and institutions to confidently manage their bitcoin investments.

    For more information about Bitcoin Interest on Cash, please visit river.com/bitcoin-interest or follow them on X (Twitter).

    1River Financial Inc. (“River”) is not a bank. USD funds are deposited by Lead Bank, Member FDIC. Your USD is FDIC insured up to $250,000, inclusive of any deposits that you already hold at Lead Bank in the same ownership capacity. FDIC insurance may protect against a failure by Lead Bank, but does not protect against River’s failure, nor does it protect against theft or fraud. Bitcoin is not insured by the FDIC, and may lose value.

    Interest may be earned on cash that has settled at Lead Bank. As of October 22, 2024, the interest rate is 3.8%, and is subject to change. You may choose to receive interest payouts in Bitcoin or in USD. Lead is not affiliated with River’s Bitcoin program, products, or offerings. Not available in all states. Fees may apply. Please review the Terms of Service for eligibility restrictions and additional details.

    2Historical returns are presented for illustrative purposes only. Calculations are based on the current interest rate for Bitcoin Interest on Cash and the price of Bitcoin over the prior two years and are compared to the national average APY (source: US News, as of Oct 9, 2024). Interest rates and Bitcoin prices may fluctuate over time. This is not a guarantee of future earnings. All investments involve risk.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4ba1036a-1f85-48ab-8051-f65121657f23

    The MIL Network –

  • MIL-OSI: Datapro Inc. Unveils Brand Refresh and Launches New Website to Reflect Commitment to Innovation and Agility

    Source: GlobeNewswire (MIL-OSI)

    MIAMI, Oct. 22, 2024 (GLOBE NEWSWIRE) — Datapro Inc. (Datapro), a leader in financial services technology, is proud to announce a comprehensive brand refresh, marking a new chapter in the company’s evolution. This refresh is accompanied by the launch of a redesigned website, aimed at better serving customers and partners with an enhanced, user-friendly experience.

    As Datapro continues to expand and adapt in a rapidly changing industry, the refreshed brand symbolizes the company’s commitment to innovation, agility, and forward-thinking solutions.

    “While our company is embracing a more modern and dynamic identity, we remain grounded in the experience and expertise that have been the foundation of our success for more than 45 years,” said Ignacio Blanco, CEO of Datapro. “Our track record of hundreds of successful implementations is a testament to our enduring capability to deliver value to our clients.”

    The refreshed brand includes a new logo, color palette, and design elements that are more reflective of Datapro’s innovative spirit and agile approach. The new isotype design was inspired from data and the cell replication process, embodying modularity, agility and flexibility.

    “These changes are not just cosmetic; they represent our ongoing transformation into a company that is better equipped to meet the challenges of the future, while still honoring the heritage and reliability our clients have come to trust,” said Blanco.

    In tandem with Datapro’s brand refresh, the company has also launched a new website at http://www.datapromiami.com . The redesigned site offers an improved user experience, with intuitive navigation, mobile optimization, and enhanced content that better reflects the company’s expanded capabilities and breadth of services. The new design enables visitors to more easily access resources, case studies, and insights, to help them make informed decisions in today’s fast-paced business environment.

    “Today’s announcement is more than just a visual update—it’s a statement of our commitment to driving innovation and excellence in everything we do,” said Blanco. “Our refreshed brand and new website are designed to better reflect who we are today: a modern, agile, and innovative company with a strong legacy of successful implementations. We’re excited to continue our journey with a renewed focus on providing exceptional value to our clients.”

    Datapro invites clients, partners, and the community to explore the new website and experience the refreshed brand that underscores its dedication to pushing the boundaries of what’s possible.

    About Datapro

    Datapro is a leader in core banking and digital banking technology, with more than 100 customers in over 20 countries. Our vision is to be recognized as the architects of the banking evolution towards a digital world. We have been helping financial institutions across Latin America, the Caribbean, the US and the EU for the past 45 years to modernize their infrastructure and to deliver innovative digital solutions to their customers. In 2021, Datapro was acquired by Vencora, which is part of Constellation Software Inc. (CSU – TSE).

    Media Contact

    info@datapromiami.com 

    http://www.datapromiami.com

    The MIL Network –

  • MIL-OSI: Independent Bank Corporation Announces Quarterly Cash Dividend on Common Stock

    Source: GlobeNewswire (MIL-OSI)

    GRAND RAPIDS, Mich., Oct. 22, 2024 (GLOBE NEWSWIRE) — Independent Bank Corporation (NASDAQ: IBCP), the holding company of Independent Bank, a Michigan-based community bank, announced that today its Board of Directors declared a quarterly cash dividend on its common stock of 24 cents per share. This dividend is payable on November 15, 2024 to shareholders of record on November 5, 2024.

    About Independent Bank Corporation

    Independent Bank Corporation (NASDAQ: IBCP) is a Michigan-based bank holding company with total assets of approximately $5.3 billion. Founded as First National Bank of Ionia in 1864, Independent Bank Corporation operates a branch network across Michigan’s Lower Peninsula through one state-chartered bank subsidiary. This subsidiary (Independent Bank) provides a full range of financial services, including commercial banking, mortgage lending, investments and insurance services. Independent Bank Corporation is committed to providing exceptional personal service and value to its customers, stockholders and the communities it serves.

    For more information, please visit our Web site at: IndependentBank.com.

    Contact: William B. Kessel, President and CEO, 616.447.3933
      Gavin A. Mohr, Chief Financial Officer, 616.447.3929 

    The MIL Network –

  • MIL-OSI: Giftbit Makes Global Incentive Programs Easy, Automated, and Transparent

    Source: GlobeNewswire (MIL-OSI)

    SEATTLE and VICTORIA, British Columbia, Oct. 22, 2024 (GLOBE NEWSWIRE) — Giftbit, a digital rewards provider that helps companies increase revenue and productivity, today launched a major update to their rewards platform offering global reach, automation, and transparency.

    “The updated Giftbit platform is another step forward for the digital rewards industry, one that in the past has been characterized by waste, opaque pricing, and manual effort,” said Leif Baradoy, Giftbit’s CEO. “Companies can now launch a modern automated incentive program in just a few clicks and know exactly where and how their rewards budget is being used.”

    International Options Mean Something for Everyone

    The expanded global platform makes it easy for businesses of all sizes to incentivize employees, recruit research participants, and reward customers. Giftbit’s catalog now offers nearly 1000 gift card options, including dozens of options from countries in Europe, the UK, Australia, and India. In addition to the growing gift card options, Giftbit has also launched a new international prepaid card which can be used in over 100 countries.

    Ease of Use and Automation That Can Reach Participants in Any Country

    Giftbit’s platform is automation-first. Its single API can power an entire global rewards program, meaning nobody has to juggle dozens of contracts and technical setups. By running their incentives through Giftbit, companies can automate what were once mundane and time-consuming reward fulfillment tasks.

    For example, a market research firm can automatically send a digital gift card or prepaid card when a survey is completed or a sales organization can instantly reward employees when they hit a sales goal.

    Transparent Financials and Customer-Friendly Pricing

    Price transparency remains a core part of the newly expanded platform. In contrast to similar platforms, Giftbit gives customers a clear view into their program financials and offers innovative ways to save money or tap into revenue opportunities.

    “If you’ve been wanting to launch or grow a rewards program but you’ve been turned off by the effort required, a fear of being ripped off, or a clunky international setup, the updated Giftbit platform is for you,” added Baradoy.

    About Giftbit

    Giftbit is a leading platform for digital reward and payout fulfillment, designed to help businesses achieve their goals with effective incentive programs. Knowing that rewards work, Giftbit offers a robust catalog of gift cards and prepaid cards, along with easy integration and transparent pricing. Giftbit ensures businesses can effortlessly motivate their prospects, customers, partners, and employees. Learn more about Giftbit at http://www.giftbit.com.

    Media Contact
    Sergut Dejene
    sergut@propllr.com

    Giftbit Media Contact
    pr@giftbit.com

    The MIL Network –

  • MIL-OSI: Foresight Reports Third Quarter 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    WINNEBAGO, Ill., Oct. 22, 2024 (GLOBE NEWSWIRE) — Foresight Financial Group, Inc., a Winnebago, IL based multi-bank holding company with fourteen offices in Stephenson, Winnebago, Boone and Kankakee counties, reported that for the third quarter of 2024, net income increased by 33.3% to $3,396,000 from $2,547,000 reported in the third quarter of 2023. The increase in net income compared to the third quarter of 2023 reflects a $1,386,000 decrease in the provision for loan losses and a $312,000 increase in net interest income. These favorable changes were partially offset by a $419,000 decrease in non-interest income and a $325,000 increase in operating expenses. The decrease in non-interest income includes a $328,000 reduction in net secondary market mortgage revenue, primarily due to reduction in the fair value of servicing rights. The increase in operating expense was largely driven by increased compensation expense, reflecting ongoing talent acquisition efforts initiated earlier in the year. Earnings per common share for the third increased to $0.97, compared to $0.71 for the third quarter of 2023.

    Net income reported for the first nine months of 2024 was $10,171,000, a 30.21% increase over the $7,815,000 earned for the nine months ending September 30, 2023. The increase in net income compared to the first nine months of 2023 includes a $4,092,000 decrease in the provision for loan losses, which was partially offset by a $454,000 reduction in non-interest income and a $697,000 increase in operating expenses. Year to date earnings per common share for 2024 was $2.93, compared to $2.19, for the first nine months of 2023. The results for the first nine months of 2024 produced a return on average assets of 0.85% and return on stockholders’ equity of 9.41%.

    Foresight’s balance sheet has experienced modest growth during the past year with total assets increasing 6.5% to $1.618 billion. Total gross loans increased 7.2% to $1.117 billion and total deposits increased 2.8% to $1.399 billion as of September 30, 2024. The majority of the loan growth was in commercial and commercial real estate lending. The deposit growth has been in demand deposits and certificates of deposit, with some funding shifting from savings and money market accounts to certificates of deposit to lock in term rates. The net interest margin for the first nine months of 2024 was 3.26% compared to 3.35%.

    Foresight’s asset quality remains strong. Non-performing assets of the Company as of September 30, 2024, totaled $23.7 million, up from $21.5 million the previous quarter. Loans past due 30 to 89 days remain low at 0.31% of outstanding loans.

    Chief Executive Officer Peter Morrison stated “we are pleased with the year over year performance improvement, despite continued net interest margin challenges industrywide. FGFH stock performance has been a bright spot in 2024 as its price has increased 41% since the end of 2023, however we still feel our stock is significantly undervalued. As we move into the final quarter of 2024, we anticipate a strong finish to a year of significant positive change on several levels within the organization.”

    The closing price for the Company’s stock was $33.07, as of close of business October 21, 2024. Book value of the Company’s common stock increased by $4.51 to $44.30 as of September 30, 2024, compared to $39.79 as of December 31, 2023. The increase in book value per share during the first nine months of 2024 includes a $2.42 increase in Accumulated Other Comprehensive Income, reflecting a decrease in the net unrealized loss on available for sale securities.

    About Foresight Financial

    Foresight Financial is a multi-bank holding company located in Northern Illinois, Its subsidiary community banks include Northwest Bank of Rockford, State Bank in Freeport, State Bank of Davis, German-American State Bank, German Valley, Lena State Bank, and the State Bank of Herscher. Foresight’s common stock is listed on the “OTCQX” market under the trading symbol FGFH.

    Forward-Looking Statements

    When used in this communication, the words “believes,” “expects,” “likely”, “would”, and similar expressions are intended to identify forward-looking statements. The Company’s actual results may differ materially from those described in the forward-looking statements. Factors which could cause such a variance to occur include, but are not limited to: heightened competition; adverse state and federal regulation; failure to obtain new or retain existing customers; ability to attract and retain key executives and personnel; changes in interest rates; unanticipated changes in industry trends; unanticipated changes in credit quality and risk factors, including general economic conditions particularly in the Company’s markets; potential deterioration in real estate values, success in gaining regulatory approvals when required; changes in the Federal Reserve Board monetary policies; unexpected outcomes of new and existing litigation in which the Company or its subsidiaries, officers, directors or employees is named defendants; technological changes; changes in accounting principles generally accepted in the United States; changes in assumptions or conditions affecting the application of “critical accounting policies”; inability to recover previously recorded losses as anticipated, and the inability of third party vendors to perform critical services for the Company or its customers. The inclusion of forward-looking information should not be construed as a representation by the Company or any person that future events or plans contemplated by the Company will be achieved. The Company undertakes no obligation to publicly update or revise any forward-looking statements whether as a result of new information or otherwise.

    The MIL Network –

  • MIL-OSI: Exclusive Markets Receives Top Honors at International Business Magazine Awards 2024

    Source: GlobeNewswire (MIL-OSI)

    DUBAI, United Arab Emirates, Oct. 22, 2024 (GLOBE NEWSWIRE) — Exclusive Markets, a globally renowned leader in online multi-asset trading, has once again showcased its commitment to excellence by holding several prestigious awards at the highly esteemed International Business Magazine Awards 2024. The company has emerged victorious in the following categories:

    • Most Trusted Forex Broker Global 2024
    • Best FX Broker Global 2024
    • Best Customer Support Global 2024
    • Best Partners Program Global 2024
    • Most Transparent Broker Asia 2024

    These esteemed awards reaffirm Exclusive Markets’ steady dedication to setting new benchmarks in the industry and delivering unmatched service to its worldwide clientele. The company’s forward-thinking strategies, which are always at the forefront of industry trends, its emphasis on transparency, and its unwavering focus on providing exceptional experiences for traders and partners have set it apart in the fiercely competitive market.

    The official award presentation is scheduled to take place at the prestigious Grand Annual Awards Ceremony 2024 in the luxurious Atlantis, The Palm, Dubai, UAE, later this year. This highly anticipated event, set for Q4, will bring together top professionals from the global finance industry to celebrate outstanding achievements and innovation.

    Hemant Kumar, Exclusive Markets’ CMO, expressed his gratitude, remarking, “Securing 5 prestigious awards is a testament to our relentless pursuit of excellence and the firm trust that our clients and partners have placed in us. Our entire team has worked tirelessly to uphold these values, and we take immense pride in seeing our efforts acknowledged on such a prestigious platform.”

    With these remarkable awards, Exclusive Markets has further solidified its position as a revered leader in the Forex trading industry, strengthening its reputation as a company that prioritizes partnerships and remains dedicated to delivering unparalleled client satisfaction!

    About Exclusive Markets

    Exclusive Markets is dedicated to providing traders with a robust, secure, and transparent platform for investing in a variety of financial instruments. With a focus on cutting-edge technology and holding ISO/IEC 27001:2013 Certification by MSECB, Exclusive Markets offers traders an exceptional platform that seamlessly integrates advanced features with user-friendly interfaces.

    Traders can access a wide array of trading instruments, including CFD stocks, commodities, forex, and spot metals. The company’s expert team is committed to meeting the evolving needs of its clients by continually expanding its range of products and services, allowing traders to invest according to their preferences.

    Risk Warning: Trading involves risk.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f223189a-99c1-4610-bd6c-84d9a48d6f66

    The MIL Network –

  • MIL-OSI: TopLine Financial Credit Union Participates in Its 8th Statewide Day of Kindness

    Source: GlobeNewswire (MIL-OSI)

    MAPLE GROVE, Minn., Oct. 22, 2024 (GLOBE NEWSWIRE) — TopLine Financial Credit Union, a Twin Cities-based member-owned financial services cooperative, was one of the 60 credit unions and partner organizations across the state of Minnesota who participated in an orchestrated day, called CU Forward Day. A state-wide initiative of over 3,000+ credit union employees, members and partners coming together to do one simple thing – spread kindness and encourage others to do the same.

    TopLine has been participating in this collaborative credit union event since 2016, referred to as “CU Forward Day,” which is coordinated by the Minnesota Credit Union Network (MnCUN), the state trade association for Minnesota’s credit unions. CU Forward Day demonstrates what credit unions do best, collaborate and give back to their communities.

    TopLine’s theme for this year was “Connected, We All Do Better!” Over 143 TopLine participants volunteered over 554 hours and impacted nearly 2,800 Minnesotans at local community partner non-profit organizations including ACBC Food Shelf, Advent Lutheran Church, Avenues for Youth, Beyond the Yellow Ribbon, CROSS Services, Family Alternatives, Karen Organization of Minnesota, Keystone Community Services, Maple Grove Hospital, MORE, NACE Food Shelf & Closet, Union Gospel Mission Twin Cities, YMCA Youth and Family Services and several local park clean-ups.

    Volunteers made a positive impact in the communities that TopLine serves by providing fall clean up at Advent Lutheran Church and Avenues for Youth, delivering meals to Keystone Meals on Wheels program participants, serving lunch to residents at Union Gospel Mission, a local ministry, providing aid to several local food shelves, assisting in park beautification, packing personal care kits and birthday bags at YMCA Youth & Family Services, creating inspirational signage for Maple Grove Hospital, packing and delivering 1,000 personal care kits and dental kits, creating 100 tie blankets, and knitting over 100 scarves for local foster youth at Family Alternatives. TopLine also hosted a bike drive to benefit Express Bike Shop, a nonprofit youth employment program, and collected 157 bikes to donate.

    “At TopLine, we believe that supporting our communities goes beyond financial services, and CU Forward Day is a great way to demonstrate our commitment to social responsibility efforts. By volunteering on this day, as well as throughout the year, and sharing our time and talents, we strengthen the bonds within our neighborhoods and contribute to the well-being of everyone we serve. Together, we make a real difference in lives,” says Mick Olson, TopLine President and CEO. “CU Forward Day showcases the credit union philosophy of “people helping people” and our true power of our Minnesota credit unions and partners working collectively together to make a positive impact across the state.”

    TopLine Financial Credit Union, a Twin Cities-based credit union, is Minnesota’s 9th largest credit union, with assets of over $1.1 billion and serves over 70,000 members. Established in 1935, the not-for-profit financial cooperative offers a complete line of financial services from its ten branch locations — in Bloomington, Brooklyn Park, Champlin, Circle Pines, Coon Rapids, Forest Lake, Maple Grove, Plymouth, St. Francis and in St. Paul’s Como Park — as well as by phone and online at http://www.TopLinecu.com or http://www.ahcu.coop. Membership is available to anyone who lives, works, worships, attends school or volunteers in Anoka, Benton, Carver, Chisago, Dakota, Hennepin, Isanti, Kanabec, Mille Lacs, Pine, Ramsey, Scott, Sherburne, Washington and Wright counties in Minnesota and their immediate family members, as well as employees and retirees of Anoka Hennepin School District #11, Anoka Technical College, Federal Premium Ammunition, Hoffman Enclosures, Inc., GRACO, Inc., and their subsidiaries. Visit us on our Facebook or Instagram. To learn more about the credit union’s foundation, visit http://www.TopLinecu.com/Foundation.

    CONTACT:
    Vicki Roscoe Erickson
    Senior Vice President and Chief Marketing Officer
    TopLine Financial Credit Union
    verickson@toplinecu.com | 763.391.0872

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/499f20d8-0258-4ca3-8f6a-d8ed16f9d99e

    The MIL Network –

  • MIL-OSI: Greene County Bancorp, Inc. Reports Net Income of $6.3 million for the Three Months Ended September 30, 2024 and Reaches New Milestone of $2.9 Billion in Assets

    Source: GlobeNewswire (MIL-OSI)

    CATSKILL, N.Y., Oct. 22, 2024 (GLOBE NEWSWIRE) — Greene County Bancorp, Inc. (the “Company”) (NASDAQ: GCBC), the holding company for The Bank of Greene County and its subsidiary Greene County Commercial Bank, today reported net income for the three months ended September 30, 2024, which is the first quarter of the Company’s fiscal year ending June 30, 2025. Net income for the three months ended September 30, 2024 was $6.3 million, or $0.37 per basic and diluted share, as compared to $6.5 million, or $0.38 per basic and diluted share, for the three months ended September 30, 2023. Net income decreased $208,000, or 3.2%, when comparing the three months ended September 30, 2024 and 2023.

    Highlights:

    • Net Income: $6.3 million for the three months ended September 30, 2024
    • Total Assets: $2.9 billion at September 30, 2024, a new record high
    • Net Loans: $1.5 billion at September 30, 2024, a new record high
    • Total Deposits $2.5 billion at September 30, 2024, a new record high
    • Return on Average Assets: 0.93% for the three months ended September 30, 2024
    • Return on Average Equity: 11.86% for the three months ended September 30, 2024

    Donald Gibson, President & CEO stated: “I am pleased to report another solid quarterly performance highlighted by record high levels in deposits, loans, and total assets. This achievement is a testament to our team’s strategy of providing innovative financial solutions and outstanding service to our customers, which combined, has provided steady long-term growth for our organization. We remain committed to being the leading provider of community-based banking services throughout the Hudson Valley and Capital Region of New York State.”

    Total consolidated assets for the Company were $2.9 billion at September 30, 2024, primarily consisting of $1.5 billion of net loans and $1.1 billion of total securities available-for-sale and held-to-maturity. Consolidated deposits totaled $2.5 billion at September 30, 2024, consisting of retail, business, municipal and private banking relationships.

    Pre-provision net income was $6.9 million for the three months ended September 30, 2024 as compared to pre-provision net income of $6.6 million for the three months ended June 30, 2024, an increase of $314,000, or 4.8%, and pre-provision net income of $6.9 million for the three months ended September 30, 2023. Pre-provision net income measures the Company’s net income less the provision for credit losses on loans. Management believes that this measure assists investors in comprehending the impact of the provision on the Company’s reported results, offering an alternative view of the Company’s performance and the Company’s ability to generate income in excess of its provision for credit losses on loans. During the September 30, 2024 quarter, the Company was able to reprice assets into the higher interest rate market faster than it had raised rates paid on deposits. This resulted in a higher net interest margin for the three months ended September 30, 2024 as compared to the three months end June 30, 2024. The Company will continue to monitor the monetary policy of the Federal Reserve and interest rates paid on deposits, while maintaining our long-term customer relationships.

    Selected highlights for the three months ended September 30, 2024 are as follows:

    Net Interest Income and Margin

    • Net interest income decreased $303,000 to $13.1 million for the three months ended September 30, 2024 from $13.4 million for the three months ended September 30, 2023. The decrease in net interest income was due to an increase in the average balance of interest-bearing liabilities, which increased $64.1 million when comparing the three months ended September 30, 2024 and 2023, and increases in rates paid on interest-bearing liabilities, which increased 53 basis points when comparing the three months ended September 30, 2024 and 2023. The decrease in net interest income was partially offset by the increase in the average balance of interest-earning assets, which increased $54.7 million when comparing the three months ended September 30, 2024 and 2023, and increases in interest rates on interest-earning assets, which increased 40 basis points when comparing the three months ended September 30, 2024 and 2023.

      Average loan balances increased $60.4 million and the yield on loans increased 36 basis points when comparing the three months ended September 30, 2024 and 2023. Average balance of securities increased $13.7 million and the yield on such securities increased 45 basis points when comparing the three months ended September 30, 2024 and 2023. Average interest-bearing bank balances and federal funds decreased $19.4 million, while the yield increased 43 basis points when comparing the three months ended September 30, 2024 and 2023.

      The cost of NOW deposits increased 54 basis points, the cost of certificates of deposit increased 49 basis points, and the cost of savings and money market deposits increased 19 basis points when comparing the three months ended September 30, 2024 and 2023. The increase in the cost of interest-bearing liabilities was partially due to growth in the average balances of interest-bearing liabilities of $64.1 million. This was due to an increase in NOW deposits of $47.7 million and an increase in average certificates of deposits of $31.0 million, partially offset by a decrease in average savings and money market deposits of $39.3 million when comparing the three months ended September 30, 2024 and 2023. Average borrowings increased $24.7 million when comparing the three months ended September 30, 2024 and 2023. Yields on interest-earning assets and costs of interest-bearing deposits increased for the three months ended September 30, 2024, as the Company repriced assets and deposits due to the higher interest rate environment. The Company determines interest rates offered on deposit accounts based on current and future economic conditions, competition, liquidity needs, the asset-liability position of the Company and growing the retention of relationships.

    • Net interest rate spread and margin both decreased when comparing the three months ended September 30, 2024 and 2023. Net interest rate spread decreased 13 basis points to 1.76% for the three months ended September 30, 2024 as compared to 1.89% for the three months ended September 30, 2023. Net interest margin decreased 9 basis points to 2.03%, for the three months ended September 30, 2024 as compared to 2.12% for the three months ended September 30, 2023. The decrease was due to the higher interest rate environment, which caused competitive pressure to increase rates paid on deposits, resulting in higher interest expense. This was partially offset by increases in interest income on securities and loans, as they reprice at higher yields and the interest rates earned on new balances were higher than the levels from the prior periods.
    • Net interest income on a taxable-equivalent basis includes the additional amount of interest income that would have been earned if the Company’s investment in tax-exempt securities and loans had been subject to federal and New York State income taxes yielding the same after-tax income. Tax equivalent net interest margin was 2.29% and 2.37% for the three months ended September 30, 2024 and 2023, respectively.

    Credit Quality and Provision for Credit Losses on Loans

    • Provision for credit losses on loans amounted to $634,000 for the three months ended September 30, 2024 compared to $457,000 for the three months ended September 30, 2023. The loan provision for the three months ended September 30, 2024, was primarily attributable to updated economic forecasts used in the quantitative modeling as of September 30, 2024. The allowance for credit losses on loans to total loans receivable was 1.32% at September 30, 2024 compared to 1.28% at June 30, 2024.
    • Loans classified as substandard and special mention totaled $59.0 million at September 30, 2024 and $48.6 million at June 30, 2024, an increase of $10.4 million. The increase in loans classified was primarily due to downgrades of commercial real estate loans during the period ended September 30, 2024, that were considered to be performing and paying in accordance with the terms of their loan agreements. Of the loans classified as substandard or special mention, $55.3 million were performing at September 30, 2024. There were no loans classified as doubtful or loss at September 30, 2024 or June 30, 2024.
    • Net charge-offs on loans amounted to $114,000 and $93,000 for the three months ended September 30, 2024 and 2023, respectively, an increase of $21,000. There were no material charge-offs in any loan segment during the three months ended September 30, 2024.
    • Nonperforming loans amounted to $3.6 million at September 30, 2024 and $3.7 million at June 30, 2024. The activity in nonperforming loans during the period included $410,000 in loan repayments, $57,000 in charge-offs or transfers to foreclosure, $56,000 in loans returning to performing status, and $441,000 of loans placed into nonperforming status. Nonperforming assets were 0.13% of total assets at September 30, 2024 and June 30, 2024, respectively. Nonperforming loans were 0.25% of net loans at September 30, 2024 and June 30, 2024, respectively.

    Noninterest Income and Noninterest Expense

    • Noninterest income increased $438,000, or 13.3%, to $3.7 million for the three months ended September 30, 2024 compared to $3.3 million for the three months ended September 30, 2023. The increase for the three-month period was primarily due to an increase in fee income earned on customer interest rate swap contracts, and income from bank owned life insurance (“BOLI”). During the quarter ended December 31, 2023, the Company restructured $23 million of BOLI contracts, by surrendering and simultaneously purchasing new higher-yielding policies.
    • Noninterest expense increased $705,000, or 8.0%, to $9.6 million for the three months ended September 30, 2024 compared to $8.8 million for the three months ended September 30, 2023. The increase during the three months ended September 30, 2024 was primarily due to an increase of $387,000 in salaries and employee benefits, due to new positions created during the period to support the Company’s continued growth, an increase of $176,000 in service and data processing fees due to vendor price negotiations in prior periods, and an increase of $285,000 in the reserve for credit losses on off-balance sheet unfunded commitments, due to the Company’s increased contractual obligations to extend credit. This was partially offset by a decrease of $156,000 in computer software and support fees, as compared to the three months ended September 30, 2023.

    Income Taxes

    • Provision for income taxes reflects the expected tax associated with the pre-tax income generated for the given period and certain regulatory requirements. The effective tax rate was 6.4% for the three months ended September 30, 2024 and 13.0% for the three months ended September 30, 2023. The statutory tax rate is impacted by the benefits derived from tax-exempt bond and loan income, the Company’s real estate investment trust subsidiary income, and income received on the bank owned life insurance, to arrive at the effective tax rate. The decrease in the current quarter’s effective tax rate primarily reflects a higher mix of tax-exempt income from municipal bonds, tax advantage loans and bank owned life insurance in proportion to pre-tax income.

    Balance Sheet Summary

    • Total assets of the Company were $2.9 billion at September 30, 2024 and $2.8 billion at June 30, 2024, an increase of $48.8 million, or 1.7%.
    • Total cash and cash equivalents for the Company were $213.5 million at September 30, 2024 and $190.4 million at June 30, 2024. The Company has continued to maintain strong capital and liquidity positions as of September 30, 2024.
    • Securities available-for-sale and held-to-maturity increased $26.1 million, or 2.5%, to $1.1 billion at September 30, 2024 as compared to $1.0 billion at June 30, 2024. Securities purchases totaled $115.2 million during the three months ended September 30, 2024, and consisted primarily of $77.4 million of state and political subdivision securities, $24.7 million of U.S. Treasury securities, $9.2 million of collateralized mortgage obligations and $3.9 million of mortgage-backed securities. Principal pay-downs and maturities during the three months ended September 30, 2024 amounted to $97.0 million, primarily consisting of $66.5 million of state and political subdivision securities, $25.0 million of U.S. Treasury securities, $4.5 million of mortgage-backed securities, and $683,000 of collateralized mortgage obligations.
    • Net loans receivable remained at $1.5 billion at September 30, 2024 and June 30, 2024. Loan growth experienced during the three months ended September 30, 2024, consisted primarily of $15.3 million in commercial real estate loans, partially offset by a decrease of $11.5 million in commercial loans.
    • Deposits totaled $2.5 billion at September 30, 2024 and $2.4 billion at June 30, 2024, an increase of $96.7 million, or 4.1%. The Company had zero brokered deposits at September 30, 2024 and June 30, 2024, respectively. NOW deposits increased $87.9 million, or 5.0%, certificates of deposits increased $17.9 million, or 12.9%, and noninterest-bearing deposits increased $7.4 million, or 5.9% when comparing September 30, 2024 and June 30, 2024. Savings deposits decreased $7.9 million, or 3.2%, and money market deposits decreased $8.6 million, or 7.6%, when comparing September 30, 2024 and June 30, 2024.
    • Borrowings amounted to $142.5 million at September 30, 2024 compared to $199.1 million at June 30, 2024, a decrease of $56.6 million. At September 30, 2024, borrowings included $63.0 million of overnight borrowings with the Federal Home Loan Bank of New York (“FHLB”), $49.7 million of Fixed-to-Floating Rate Subordinated Notes, $25.0 million in the Bank Term Funding Program with the Federal Reserve Bank, and $4.8 million of long-term borrowings with the FHLB.
    • Shareholders’ equity increased to $216.3 million at September 30, 2024 compared to $206.0 million at June 30, 2024, resulting primarily from net income of $6.3 million and a decrease in accumulated other comprehensive loss of $5.6 million, partially offset by dividends declared and paid of $1.5 million.

    Corporate Overview

    Greene County Bancorp, Inc. is the holding company for The Bank of Greene County, and its subsidiary Greene County Commercial Bank. The Company is the leading provider of community-based banking services throughout the Hudson Valley and Capital Region of New York State. Its customers include individuals, businesses, municipalities and other institutions. Greene County Bancorp, Inc. (GCBC) is publicly traded on the Nasdaq Capital Market and is dedicated to promoting economic development and a high quality of life in the communities it serves. For more information on Greene County Bancorp, Inc., visit http://www.tbogc.com.

    Forward-Looking Statements

    This earnings release contains statements about future events that constitute forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by references to a future period or periods or by the use of the words “believe,” “expect,” “anticipate,” “intend,” “estimate,” “assume,” “will,” “should,” “could,” “plan,” and other similar terms of expressions. Forward-looking statements should not be relied on because they involve known and unknown risks, uncertainties and other factors, many of which are beyond the Company’s control. These risks, uncertainties and other factors may cause the actual results, performance or achievements expressed in, or implied by, the forward-looking statements to differ materially from those contemplated by the forward-looking statements. Factors that may cause such a difference include, but are not limited to, local, regional, national and international general economic conditions, including actual or potential stress in the banking industry, financial and regulatory changes, changes in interest rates, regulatory considerations, competition, technological developments, retention and recruitment of qualified personnel, changes in customer deposit behavior, and market acceptance of the Company’s pricing, products and services.

    The Company cautions readers not to place undue reliance on any forward-looking statements, which speak only as of the date made, and advises readers that various factors, including, but not limited to, those described above and other factors discussed in the Company’s annual and quarterly reports previously filed with the Securities and Exchange Commission, could affect the Company’s financial performance and could cause the Company’s actual results or circumstances for future periods to differ materially from those anticipated or projected.

    Unless required by law, the Company does not undertake, and specifically disclaims any obligations to, publicly release any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.

    For more information, please see our reports filed with the United States Securities and Exchange Commission (“SEC”), including our most recent annual report on Form 10-K and quarterly reports on Form 10-Q.

    Non-GAAP Measures

    In addition to presenting information in conformity with accounting principles generally accepted in the United States of America (GAAP), this news release contains financial information determined by methods other than GAAP (non-GAAP). The following measures used in this release, which are commonly utilized by financial institutions, have not been specifically exempted by the Securities and Exchange Commission (“SEC”) and may constitute “non-GAAP financial measures” within the meaning of the SEC’s rules.

    The Company has provided in this news release supplemental disclosures for the calculation of net interest margin utilizing a fully taxable-equivalent adjustment and pre-provision net income. Management believes that the non-GAAP financial measures disclosed by the Company from time to time are useful in evaluating the Company’s performance and that such information should be considered as supplemental in nature and not as a substitute for or superior to the related financial information prepared in accordance with GAAP.  Our non-GAAP financial measures may differ from similar measures presented by other companies. Refer to the tables on page 8 for Non-GAAP to GAAP reconciliations.

    (END)

    Greene County Bancorp, Inc.
    Consolidated Statements of Income, and Selected Financial Ratios (Unaudited)

      At or for the Three Months
      Ended September 30,
    (Dollars in thousands, except share and per share data)   2024     2023  
    Interest income $ 27,769   $ 24,672  
    Interest expense   14,633     11,233  
    Net interest income   13,136     13,439  
    Provision for credit losses   634     457  
    Noninterest income   3,737     3,299  
    Noninterest expense   9,550     8,845  
    Income before taxes   6,689     7,436  
    Tax provision   428     967  
    Net Income $ 6,261   $ 6,469  
         
    Basic and diluted EPS $ 0.37   $ 0.38  
    Weighted average shares outstanding   17,026,828     17,026,828  
    Dividends declared per share(4) $ 0.09   $ 0.08  
         
    Selected Financial Ratios    
    Return on average assets(1)   0.93 %   0.99 %
    Return on average equity(1)   11.86 %   14.09 %
    Net interest rate spread(1)   1.76 %   1.89 %
    Net interest margin(1)   2.03 %   2.12 %
    Fully taxable-equivalent net interest margin(2)   2.29 %   2.37 %
    Efficiency ratio(3)   56.60 %   52.84 %
    Non-performing assets to total assets   0.13 %   0.22 %
    Non-performing loans to net loans   0.25 %   0.38 %
    Allowance for credit losses on loans to non-performing loans   542.39 %   369.10 %
    Allowance for credit losses on loans to total loans   1.32 %   1.40 %
    Shareholders’ equity to total assets   7.52 %   6.85 %
    Dividend payout ratio(4)   24.32 %   21.05 %
    Actual dividends paid to net income(5)   24.48 %   21.05 %
    Book value per share $ 12.70   $ 10.82  
                 

    (1) Ratios are annualized when necessary.
    (2) Interest income calculated on a taxable-equivalent basis (non-GAAP) includes the additional interest income that would have been earned if the Company’s investment in tax-exempt securities and loans had been subject to federal and New York State income taxes yielding the same after-tax income.
    (3) The efficiency ratio has been calculated as noninterest expense divided by the sum of net interest income and noninterest income.
    (4) The dividend payout ratio has been calculated based on the dividends declared per share divided by basic earnings per share. No adjustments have been made to account for dividends waived by Greene County Bancorp, MHC (“MHC”), the Company’s majority shareholder, owning 54.1% of the shares outstanding.
    (5) Dividends declared divided by net income. The MHC waived its right to receive dividends declared during the three months September 30, 2022, December 31, 2022, March 31, 2023, June 30, 2023, December 31, 2023, March 31, 2024 and June 30, 2024. Dividends declared during the three months ended September 30, 2023 and September 30, 2024 were paid to the MHC.

    Greene County Bancorp, Inc.
    Consolidated Statements of Financial Condition (Unaudited)

      At
    September 30, 2024    		   At
    June 30, 2024
    (Dollars In thousands, except share data)      
    Assets      
    Cash and due from banks $ 24,824     $ 13,897  
    Interest-bearing deposits   188,645       176,498  
    Total cash and cash equivalents   213,469       190,395  
           
    Long term certificate of deposit   2,579       2,831  
    Securities available-for-sale, at fair value   364,526       350,001  
    Securities held-to-maturity, at amortized cost, net of allowance for credit losses of $466 and $483 at September 30, 2024 and June 30, 2024   701,919       690,354  
    Equity securities, at fair value   339       328  
    Federal Home Loan Bank stock, at cost   4,795       7,296  
           
    Loans receivable   1,501,212       1,499,473  
    Less: Allowance for credit losses on loans   (19,781 )     (19,244 )
    Net loans receivable   1,481,431       1,480,229  
           
    Premises and equipment, net   15,498       15,606  
    Bank owned life insurance   57,898       57,249  
    Accrued interest receivable   14,909       14,269  
    Prepaid expenses and other assets   17,258       17,230  
    Total assets $ 2,874,621     $ 2,825,788  
           
    Liabilities and shareholders’ equity      
    Noninterest bearing deposits $ 132,897     $ 125,442  
    Interest bearing deposits   2,352,977       2,263,780  
    Total deposits   2,485,874       2,389,222  
           
    Borrowings, short-term   63,000       115,300  
    Borrowings, long-term   29,781       34,156  
    Subordinated notes payable, net   49,727       49,681  
    Accrued expenses and other liabilities   29,941       31,429  
    Total liabilities   2,658,323       2,619,788  
    Total shareholders’ equity   216,298       206,000  
    Total liabilities and shareholders’ equity $ 2,874,621     $ 2,825,788  
    Common shares outstanding   17,026,828       17,026,828  
    Treasury shares   195,852       195,852  
           

    The above information is preliminary and based on the Company’s data available at the time of presentation.

    Non-GAAP to GAAP Reconciliations

    The following table summarizes the adjustments made to arrive at the fully taxable-equivalent net interest margins.

      For the three months ended September 30,
    (Dollars in thousands)   2024     2023  
    Net interest income (GAAP) $ 13,136   $ 13,439  
    Tax-equivalent adjustment(1)   1,713     1,563  
    Net interest income-fully taxable-equivalent basis (non-GAAP) $ 14,849   $ 15,002  
         
    Average interest-earning assets (GAAP) $ 2,589,580   $ 2,534,918  
    Net interest margin-fully taxable-equivalent basis (non-GAAP)   2.29 %   2.37 %
                 

    (1) Interest income calculated on a taxable-equivalent basis (non-GAAP) includes the additional interest income that would have been earned if the Company’s investment in tax-exempt securities and loans had been subject to federal and New York State income taxes yielding the same after-tax income. The rate used for this adjustment was 21% for federal income taxes for the three months ended September 30, 2024 and 2023, 4.44% for New York State income taxes for the three months ended September 30, 2024 and 2023.

    The following table summarizes the adjustments made to arrive at pre-provision net income.

      For the three months ended
    (Dollars in thousands) September 30, 2024   June 30, 2024   September 30, 2023  
    Net income (GAAP) $ 6,261   $ 6,732   $ 6,469  
    Provision for credit losses on loans   634     (151 )   457  
    Pre-provision net income (non-GAAP) $ 6,895   $ 6,581   $ 6,926  
                       

    The above information is preliminary and based on the Company’s data available at the time of presentation.

    For Further Information Contact:
    Donald E. Gibson
    President & CEO
    (518) 943-2600
    donaldg@tbogc.com

    Nick Barzee
    SVP & CFO
    (518) 943-2600
    nickb@tbogc.com

    The MIL Network –

  • MIL-OSI: Setting the Stage for Growth: Bank of Glen Burnie Names New Director of Commercial Banking and Vice President of Cash Management

    Source: GlobeNewswire (MIL-OSI)

    GLEN BURNIE, Md., Oct. 22, 2024 (GLOBE NEWSWIRE) — The Bank of Glen Burnie®, a wholly owned subsidiary of Glen Burnie Bancorp (NASDAQ: GLBZ), expanded its business banking team. Jonathan Shearin was named director of commercial banking and Ed Abedi was named vice president of cash management, announced Mark C. Hanna, President and CEO of Glen Burnie Bancorp and The Bank of Glen Burnie.

    Hanna commented, “We are thrilled to welcome Jonathan and Ed to the team. Growing our ability to serve the businesses of Anne Arundel County is goal number one for the Bank. As an independent, community-driven bank, we’re uniquely positioned to support small businesses—the backbone of job creation. Jonathan will champion this message in his role, ensuring that local companies know we have the products, services and people to meet their needs. Ed will play a key role in enhancing our digital services to keep pace with continually evolving demands.”

    Jonathan Shearin most recently served as a commercial relationship manager at Shore United Bank, where he worked with companies to provide banking solutions tailored to their operations and growth. Prior to this, he was a commercial relationship manager at Primis, overseeing and developing a portfolio of over $220 million. His banking career began with roles in treasury management and commercial lending at Eastern Virginia Bankshares, where he supported credit analysis and client management. He is a graduate of Randolph-Macon College in Ashland, Virginia, where he earned a Bachelor of Science in business with a concentration in finance.

    Shearin shared, “I am pleased to join the Bank of Glen Burnie. With a 75-year legacy of commitment to community and service, the Bank has deep roots in supporting local businesses. My focus will be on carrying forward that tradition, helping businesses thrive as we strengthen those connections.”

    Ed Abedi has over two decades of experience in commercial banking and treasury management. Most recently, he served as vice president of commercial banking at HTLF, a regional bank headquartered in Denver, Colorado. His previous roles include positions at First Horizon Bank, EagleBank, PNC, and Bank of America Merrill Lynch (now BofA Securities), where he specialized in treasury management and commercial banking solutions. Ed is a graduate of California’s San Francisco State University.

    Abedi shared, “The right digital banking tools enable companies to operate more efficiently and strategically. My role is to ensure businesses fully leverage these technologies to their advantage, which will enhance their overall experience with the Bank of Glen Burnie. I’m excited to join this team and to serve our valued customers as we continue to innovate.”

    About Glen Burnie Bancorp

    Glen Burnie Bancorp is a bank holding company headquartered in Glen Burnie, Maryland. Founded in 1949, The Bank of Glen Burnie® is a locally owned community bank with eight Anne Arundel County branches. The Bank is engaged in commercial and retail banking, including accepting demand and time deposits and originating loans to individuals, associations, partnerships, and corporations. The Bank’s real estate financing consists of residential first and second mortgage loans, home equity lines of credit and commercial mortgage loans. The Bank also originates automobile loans through arrangements with local automobile dealers. Additional information is available at thebankofglenburnie.com.

    Forward-Looking Statements

    The statements contained herein that are not historical financial information may be deemed to constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks and uncertainties, which could cause the company’s actual results in the future to differ materially from its historical results and those presently anticipated or projected. These statements are evidenced by terms such as “anticipate,” “estimate,” “should,” “expect,” “believe,” “intend,” and similar expressions. Although these statements reflect management’s good faith beliefs and projections, they are not guarantees of future performance and they may not prove true. For a more complete discussion of these and other risk factors, please see the Company’s reports filed with the Securities and Exchange Commission.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/634043fc-d456-4ff0-ab1a-e933cc748e3d

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2fe23ee6-9936-4985-ad76-c6f68b1003f0

    The MIL Network –

  • MIL-OSI: WithSecure Corporation, Inside information: Cyber security consulting goodwill impairment of EUR 15.5 million

    Source: GlobeNewswire (MIL-OSI)

    WithSecure Corporation, Inside information, 22 October 2024, 17:30 EEST

    WithSecure Corporation, Inside information: Cyber security consulting goodwill impairment of EUR 15.5 million

    As part of the preparation of its third quarter interim report, WithSecure has tested the values of its intangible assets and goodwill. As a result of this testing, an impairment of EUR 15.5 million of the goodwill related to Cyber security consulting business will be recognized as part of the third quarter interim report result. The impairment will not have an impact on WithSecure cashflow or Adjusted EBITDA.

    Consulting goodwill is resulting from the acquisition of nSense (Denmark) in 2015, Inverse Path (Italy) in 2017, Digital Assurance (UK) in 2017, and MWR Infosecurity (UK) in 2018.

    In 2024, WithSecure lowered the revenue outlook of its consulting business, due to financial constraints in some key accounts. At the same time, increased equity market risk has increased the average cost of capital applied to estimate the current value of future cash flows related to the consulting business.

    Carrying value of the consulting-related goodwill after the transaction is EUR 28.7 million.

    Contact information:

    Laura Viita,
    Vice President, Controlling, investor relations and sustainability
    WithSecure Corporation
    +358 50 487 1044
    investor-relations@withsecure.com

    The MIL Network –

  • MIL-OSI: ARC Capital Venture LLC Sees Attractive Fixed Income Opportunities Amid Market Stability

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, Oct. 22, 2024 (GLOBE NEWSWIRE) — ARC Capital Venture LLC has identified a growing wave of opportunity within the fixed-income investment market, as stabilizing economic conditions provide a more favorable environment for investors seeking both security and diversification. With bond markets benefiting from reduced volatility, government and corporate bonds have once again become essential components of diversified portfolios.

    The convergence of higher interest rates, central bank easing, and inflation control has created a uniquely attractive landscape for fixed-income investors. Bonds now offer a stable alternative to riskier assets, providing consistent returns while also serving as a hedge against potential stock market fluctuations. ARC Capital’s research indicates that the correlation between risk assets and bonds has normalized, enabling bonds to perform their traditional role as a stabilizing force within investment portfolios.

    Nicos Kezarides, Chief Executive Officer of ARC Capital Venture LLC, emphasized the current market climate as a prime time to explore the full potential of fixed-income investments. “The current economic environment is ideal for investors to explore the value that fixed-income investments provide, from government bonds to corporate bonds and innovative income solutions,” Kezarides stated. “We’re witnessing a resurgence of confidence in the bond market as it continues to provide balanced portfolios with both protection and competitive returns.”

    The combination of stabilizing inflation and anticipated rate cuts by central banks, such as the Federal Reserve, has contributed to strong demand for bonds. Investment-grade bonds are currently yielding between 4% and 5%, while high-yield bonds offer more attractive returns of around 7%. The improved economic backdrop has bolstered both investment-grade and high-yield bonds, which have outperformed the broader bond market in the past year.

    Corporate bonds, in particular, have been a standout in the fixed-income space. As businesses adjust to the evolving economic conditions, corporate bonds have benefited from tightening spreads and robust demand. Lower yields during periods of market risk aversion and tighter spreads in risk-on scenarios have made corporate bonds a stable and attractive option for income-focused investors. These dynamics have positioned corporate bonds as a preferred investment, offering both higher yields and less volatility compared to other fixed-income assets.

    Kezarides noted, “Both investment-grade and high-yield bonds have outperformed expectations this year, and we anticipate continued strength in the corporate bond space as investor demand remains high. This environment offers an excellent opportunity for those looking to add fixed-income solutions to their portfolios.”

    ARC Capital Venture LLC also highlighted the innovation occurring within the fixed-income sector. A growing number of income-oriented products, such as absolute return funds and target-date maturity funds, are helping investors achieve their financial goals. These products are designed to deliver returns regardless of benchmark performance, giving investors more control over outcomes and helping them navigate periods of economic uncertainty.

    The strategic use of derivatives in fixed-income portfolios has also emerged as a valuable tool, enabling investors to manage interest rate risks while taking advantage of inefficiencies in the bond market. By combining these strategies with traditional fixed-income investments, ARC Capital is providing a comprehensive approach that balances risks and maximizes returns.

    “As the economy continues to evolve, fixed income remains an essential tool for portfolio diversification and wealth preservation,” said Kezarides. “At ARC Capital, we are committed to helping our clients navigate this landscape, providing tailored fixed-income solutions designed to meet their financial goals.”

    With a positive outlook for fixed-income markets heading into 2025, ARC Capital Venture LLC remains optimistic about the continued strength of the bond market. The expected rate cuts and easing monetary policies from central banks, combined with stabilizing inflation, will likely fuel sustained growth in both government and corporate bonds. As central banks take steps to support economic stability, ARC Capital expects long-duration bonds to provide attractive yields, making fixed income an increasingly vital component of investor portfolios.

    For investors looking to capitalize on the opportunities within the fixed-income market, ARC Capital Venture LLC offers a range of strategies that cater to various risk appetites and financial goals. The firm’s approach emphasizes the importance of bonds as a means of safeguarding against market volatility while generating steady, long-term returns.

    For more information on ARC Capital services and market insights, please visit http://www.arc-capital.com or contact our team at info@arc-capital.com.

    This press release does not provide general or personal financial product advice, nor does it constitute a recommendation to engage in transactions or invest in fixed income securities. It should not be considered as a solicitation. Before making any investment decisions related to fixed-income securities, investors are advised to consult with their financial adviser and seek independent tax advice, considering their individual needs and financial circumstances.

    Media Relations
    ARC Capital Venture LLC
    Max Harrington, Head of Marketing
    max.harrington@arc-capital.com
    +1 (312) 820-1040
    10 South Riverside Plaza
    Suite 875
    Chicago, IL 60606

    The MIL Network –

  • MIL-OSI: Go Fund Yourself Show Debuts Private Viewing at “Million Dollar Weekend” Event, Keynote Presented by Show Titan Jayson Waller

    Source: GlobeNewswire (MIL-OSI)

    JUPITER, Fla., Oct. 22, 2024 (GLOBE NEWSWIRE) — The prestigious Million Dollar Weekend event, a gathering of top entrepreneurs, influencers, and thought leaders, hosted an exclusive preview of Go Fund Yourself! a groundbreaking crowdfunding platform that is revolutionizing how businesses raise capital. Keynote speaker and investor Jayson Waller introduced the platform, showcasing its unique ability to connect entrepreneurs with investors through real-time interaction.

    As a keynote, investor, and co-host of Go Fund Yourself! Waller delivered an inspiring presentation about entrepreneurship, building business –– and how “Go Fund Yourself! is leveling the playing field for entrepreneurs who are looking for funding.

    “Unlike other pitch and business investment shows where investment in promising new companies is limited to the privileged few, through Go Fund Yourself, virtually anyone and everyone has the same opportunity to invest in these companies as the so-called elites, and that’s a good thing,” said Jayson Waller. “It also gives deserving new companies access to an extensive broad audience of potential investors they otherwise could never reach.”

    “Go Fund Yourself gives businesses the opportunity to share their story, connect with investors instantly, and secure the funding they need to grow,” said Show Titan David Meltzer. “I’m excited entrepreneurs and businesspeople at the Million Dollar Weekend event watched a private viewing of our new show and crowdfunding platform that’s disrupting the game.”

    VIP attendees watched an exclusive private viewing of one of the episodes, featuring entrepreneurs pitching their businesses to a panel of esteemed “Titans.” The Go Fund Yourself! Titans include partners Jayson Waller, serial entrepreneur; David Meltzer, a world-renowned business coach, philanthropist and investor; and Rory J. Cutaia, the show’s creator, visionary entrepreneur and Founder & CEO of Verb Technology Company, Inc. [NASDAQ: VERB], who are joined in each Show episode by a celebrity Titan from show business, sports, or business fame. Together, they ask the tough questions investors want answered while providing the entrepreneurs presenting their businesses on the Show with guidance and real-time feedback.

    “I understand all too well how difficult it is for an entrepreneur to raise capital for a novel new idea or innovative business,” said Rory J. Cutaia, VERB CEO and Go Fund Yourself Show creator. “I, along with my fellow Titans David Meltzer and Jayson Waller, find it personally rewarding to know that we are making a difference, we’re helping entrepreneurs access the capital they need to realize their dreams on terms that are fair and reasonable, and ensuring that new products, new technology that deserve to see the light of day, actually do.” “We’re also thrilled that the everyday man and woman has access to the same investment opportunities – anyone of which could be that life-changing event – that are only seen by the same small group of investment insiders.”

    Attendees were captivated by the innovative nature of the show, which combines live pitching with interactive audience engagement. “It was thrilling to witness Go Fund Yourself! first-hand at Million Dollar Weekend,” said Cindy Metzler, CEO of Omm Media. “The energy in the room was electric, and the platform opens up so many opportunities for businesses to secure funding in an unprecedented way.”

    Denis Sinelnikov, CEO of Media Components, echoed these sentiments: “Sharing Go Fund Yourself! with such a distinguished crowd was an amazing experience. This platform is about to change how businesses approach fundraising and how investors find their next big opportunity.”

    About Go Fund Yourself! Go Fund Yourself! is an innovative interactive social crowdfunding platform designed for public and private companies seeking capital through Regulation CF and Regulation A offerings. The show allows entrepreneurs to pitch their ideas to a panel of successful “Titans” while viewers engage in real-time by making investment decisions as they watch. The panel includes Jayson Waller, David Meltzer, and Rory Cutaia—three entrepreneurial powerhouses committed to helping companies succeed. The platform also allows companies with consumer products to engage with viewers through shoppable, real-time icons during the broadcast.

    With its game-changing approach, Go Fund Yourself! is poised to redefine how businesses raise capital and build meaningful connections with investors across the globe.

    For Show Casting: Visit Go Fund Yourself Application or email Casting@gofundyourself.show

    Media Contact
    Cindy Metzler
    561-271-1389
    Cindy@cindymetzler.com

    The MIL Network –

  • MIL-OSI: Andes Technology Unveils the D45-SE RISC-V Processor Targeting ASIL-D Certification

    Source: GlobeNewswire (MIL-OSI)

    Hsinchu, Taiwan, Oct. 22, 2024 (GLOBE NEWSWIRE) — Andes Technology Corporation (TWSE: 6533; SIN: US03420C2089; ISIN: US03420C1099), a leading supplier of high-efficiency, low-power 32/64-bit RISC-V processor cores and Founding Premier member of RISC-V International, proudly announces the launch of its industry-leading functional safety RISC-V processor AndesCore™ D45-SE, targeting ISO 26262 ASIL-D (Automotive Safety Integrity Level D) certification.

    The D45-SE, derived from the production-proven D45, is a 32-bit, 8-stage dual-issue processor that supports the RISC-V GCBP extensions, including single/double precision FPU, 16-bit compression, bit manipulation, draft of packed SIMD/DSP extensions, and the Andes performance enhancements. Furthermore, it incorporates numerous safety features, such as dual-core lockstep (DCLS), a real-time diagnostic safety circuit that utilizes an additional processor and a set of comparators to enhance the diagnostic coverage; ECC for memory soft error protection; bus protection to secure bus transactions; a core trap status bus interface that provides real-time trap status information from the core; and StakSafe™, a hardware mechanism that  protects the stack, and maintains the same outstanding 6.12 Coremark/MHz as the D45. With these safety enhancements, the D45-SE ensures fault tolerance that meets the rigorous demands of safety-critical applications.

    Additionally, it supports split-mode, allowing two cores to run independently when split-lock is configured. The processor also offers comprehensive safety documentation and support to facilitate ISO 26262 compliance, assisting customers in integrating safety features into their designs. The D45-SE marks a milestone, underscoring Andes’ commitment to providing industry -leading, mission-critical solutions for the automotive industry and beyond.

    “We are thrilled to announce the D45-SE, a high-performance RISC-V processor engineered to deliver exceptional safety and reliability. It is a testament to our dedication to delivering safe and reliable solutions,” said Frankwell Lin, Andes Chairman and CEO. “This accomplishment reflects our ongoing commitment to supporting the automotive industry’s drive towards higher safety standards and innovation.”

    About Andes Technology

    Nineteen years in business and a Founding Premier member of RISC-V International, Andes is a publicly-listed company (TWSE: 6533; SIN: US03420C2089; ISIN: US03420C1099) and a leading supplier of high-performance/low-power 32/64-bit embedded processor IP solutions, and the driving force in taking RISC-V mainstream. Its V5 RISC-V CPU families range from tiny 32-bit cores to advanced 64-bit Out-of-Order processors with DSP, FPU, Vector, Linux, superscalar, functional safety and/or multi/many-core capabilities. By the end of 2023, the cumulative volume of Andes-Embedded™ SoCs has surpassed 14 billion.For more information, please visit https://www.andestech.com/en/homepage  Follow Andes on Twitter, LinkedIn, YouTube and Facebook.

    The MIL Network –

  • MIL-OSI: Decentraland Launches Revamped Virtual World with Enhanced Performance, Engaging Features, and Future-Ready Architecture

    Source: GlobeNewswire (MIL-OSI)

    LOS ANGELES, Oct. 22, 2024 (GLOBE NEWSWIRE) — Decentraland, the first decentralized virtual social world, launched a powerful new desktop client today, signaling a new era for experiencing spatial environments. This beta release enhances performance, delivers a more immersive environment, and introduces new engaging features, setting the stage for future innovations and expanded creator tools. 

    This milestone marks the shift away from a browser-based experience, replaced by a more stable, Unity-powered desktop client and the new Creator Hub, aligning with Decentraland’s vision for an interconnected metaverse. 

    “Today marks a new chapter for Decentraland. As virtual worlds take on a larger role in digital life, Decentraland is committed to creating a virtual world where people, not corporations, own their digital lives. Traditional platforms view their users as products while limiting real ownership, but Decentraland flips this script, using decentralization to empower its users,” said Yemel Jardi, Executive Director of the Decentraland Foundation. “As the internet transforms into a more immersive, spatial experience, Decentraland is leading the movement to creating a space that champions social connection, creativity, and autonomy—transcending cultures and backgrounds. This next chapter is about unlocking the true potential of the open metaverse, ensuring that as the digital world grows, it remains user-driven, community-focused, and grounded in open standards.”

    Key Features of the New Desktop Client

    • Performance Boosts & Smoother Gameplay- The new desktop client brings a highly anticipated performance upgrade. Users will enjoy faster load times, higher frame rates, and smoother multiplayer interactions, even in high-traffic areas. 
    • Immersive Environments- The new client brings Decentraland’s world to life like never before, introducing dynamic lighting with binary suns and moons, new beaches and ocean views, and procedurally generated environments, including dynamic trees, foliage, water, and sound effects. The landscape now loads up to 80 parcels away, offering users a more expansive and visually rich experience “from horizon to horizon.”
    • New Engagement Mechanics- A long incubated component of Decentraland is launching as part of the beta release, Daily Quests and mini-games, with more to be added in the near future. Daily Quests will increase active participation, engaging users to explore Decentraland and complete various tasks in exchange for rewards, such as Wearables and Emotes. The beta release also includes an all-new Badges system that motivates users to action by tracking and showcasing their achievements on the platform.
    • Simplified User Controls- Decentraland now offers expanded player profiles and a redesigned backpack where users can customize their avatars in a more intuitive manner. Navigation has also been streamlined with a quick-access bar for profile, map, and backpack features. 
    • Enhanced Avatars & Social Interactions- Avatars in Decentraland have been significantly upgraded, offering smoother movement, improved rendering, and natural interaction with the environment. New chat bubbles, name color differentiation, and emoji integration make communication more interactive and engaging.

    A Future-Ready Platform

    With this release, Decentraland is laying the groundwork for its next chapter, as the new desktop client and code base offer the capabilities needed to expand into VR and mobile experiences. The new desktop client serves as the cornerstone for this evolution, ensuring that Decentraland remains a top-tier platform for immersive, decentralized virtual experiences.

    “This upgraded desktop client transforms how people experience Decentraland,” said Kim Currier, Head of Partnerships and Marketing at Decentraland. “For our community, it’s about more than just faster load times and smoother interactions—it’s about creating a beautiful, vibrant space where people can genuinely connect and form new friendships from across the globe. With this release, we are also introducing the new Creator Hub, an all-in-one platform where creators can learn and build. It also provides businesses with opportunities to engage their audiences more effectively by using virtual spaces to create experiences that encourage active participation. It’s a big step forward, enriching how our community interacts and experiences Decentraland together.”

    New Desktop Client: Access and Details

    The future of Decentraland and virtual social worlds starts now. Experience a revitalized, interactive digital environment by downloading the new desktop client available on Mac and Windows. For more information and to download the new client, users can visit Decentraland.

    About Decentraland

    Decentraland is the first decentralized, community-driven virtual social world. It empowers users to create, explore, and connect within an open, immersive digital landscape where they fully own their digital assets. Whether hosting virtual events or designing their digital identity, individuals can shape a world that prioritizes self-expression and freedom—free from the constraints of corporate control. Governed by its community through a decentralized autonomous organization (DAO) and supported by a non-profit Foundation, Decentraland operates as an open-source, traversable world that encourages creativity, ownership, and innovation. By fostering collaboration and community, Decentraland is shaping the future of digital interaction, where individuals can truly own and build their digital lives.

    Contact

    Jo Hunt
    jo@serotonin.co

    The MIL Network –

  • MIL-OSI: Five Star Bancorp Declares Third Quarter Cash Dividend

    Source: GlobeNewswire (MIL-OSI)

    RANCHO CORDOVA, Calif., Oct. 18, 2024 (GLOBE NEWSWIRE) — Five Star Bancorp (Nasdaq: FSBC) (“Five Star” or the “Company”), a holding company that operates through its wholly owned banking subsidiary, Five Star Bank (the “Bank”), announced today the declaration of a cash dividend of $0.20 per share on the Company’s voting common stock. The dividend is expected to be paid on November 12, 2024, to shareholders of record as of November 4, 2024.

    About Five Star Bancorp
    Five Star is a bank holding company headquartered in Rancho Cordova, California. Five Star operates through its wholly owned banking subsidiary, Five Star Bank. The Bank has eight branches in Northern California. For more information, visit https://www.fivestarbank.com.

    Special Note Concerning Forward-Looking Statements
    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent plans, estimates, objectives, goals, guidelines, expectations, intentions, projections, and statements of the Company’s beliefs concerning future events, business plans, objectives, expected operating results, and the assumptions upon which those statements are based. Forward-looking statements include without limitation, any statement that may predict, forecast, indicate, or imply future results, performance, or achievements, and are typically identified with words such as “may,” “could,” “should,” “will,” “would,” “believe,” “anticipate,” “estimate,” “expect,” “aim,” “intend,” “plan,” or words or phases of similar meaning. The Company cautions that the forward-looking statements are based largely on the Company’s expectations and are subject to a number of known and unknown risks and uncertainties that are subject to change based on factors which are, in many instances, beyond the Company’s control. Such forward-looking statements are based on various assumptions (some of which may be beyond the Company’s control) and are subject to risks and uncertainties, which change over time, and other factors, which could cause actual results to differ materially from those currently anticipated. New risks and uncertainties may emerge from time to time, and it is not possible for the Company to predict their occurrence or how they will affect the Company. If one or more of the factors affecting the Company’s forward-looking information and statements proves incorrect, then the Company’s actual results, performance, or achievements could differ materially from those expressed in, or implied by, forward-looking information and statements contained in this press release. Therefore, the Company cautions you not to place undue reliance on the Company’s forward-looking information and statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 and Quarterly Reports on Form 10-Q for the three months ended March 31, 2024 and June 30, 2024, in each case under the section entitled “Risk Factors,” and other documents filed by the Company with the Securities and Exchange Commission from time to time.

    The Company disclaims any duty to revise or update the forward-looking statements, whether written or oral, to reflect actual results or changes in the factors affecting the forward-looking statements, except as specifically required by law.

    Investor Contact:
    Heather C. Luck, Chief Financial Officer
    Five Star Bancorp
    (916) 626-5008
    hluck@fivestarbank.com

    Media Contact:
    Shelley R. Wetton, Chief Marketing Officer
    Five Star Bancorp
    (916) 284-7827
    swetton@fivestarbank.com

    The MIL Network –

  • MIL-OSI: Agile Manufacturing GmbH Relocates Headquarters to Berlin, Announces Plans for New Research and Development Center

    Source: GlobeNewswire (MIL-OSI)

    BERLIN, Oct. 18, 2024 (GLOBE NEWSWIRE) — Agile Manufacturing GmbH, a leading innovator in Agile Manufacturing Systems, today announced the relocation of its headquarters from Lupburg, Bavaria, to Berlin. The move is part of the company’s strategic expansion plans aimed at enhancing its global footprint and strengthening its research and development capabilities. The new headquarters in Berlin will house a state-of-the-art R&D center, positioning the company to accelerate innovation and better serve its growing client base.

    Strategic Location to Foster Innovation

    Berlin, known for its dynamic tech and innovation ecosystem, was selected as the ideal location for the company’s expansion. The new headquarters will enable Agile Manufacturing GmbH to tap into Berlin’s diverse talent pool and collaborate more closely with the city’s world-class universities, research institutions, and technology partners.

    “Berlin offers the perfect environment for Agile Manufacturing to expand its operations and foster innovation,” said Albert Klein, CEO of Agile Manufacturing GmbH. “Agile Manufacturing requires a blend of traditional German Engineering expertise and artificial intelligence. Our new R&D center will reflect this and collaborate with “the great talent named Berlin”. Many thanks to Mr. Kai Wegner, the Governing Mayor of Berlin, the Berlin IHK and Berlin Partner for their warm support during the last months.”

    Investment in Research and Development

    Agile Manufacturing systems consist of a complex cloud software controlling purpose built Agile Machines. These machines can be deployed within days wherever they are needed and can be operated by untrained personnel. The machines are made available to their users under a Contract-For-Use, which avoids capital expenditure and drastically reduces operating costs. This contract can be terminated at any time, and the cloud software deals with all technical and compliance issues involved. This approach virtually eliminates any risk associated with the use of a manufacturing technology.

    As part of the relocation, Agile Manufacturing GmbH plans to invest significantly in its new R&D center, where the machines will be developed in cooperation with technology partners and the cloud software by Agile Manufacturing GmbH’s software development group. The new R&D center will also offer facilities to test production machines.

    About Agile Manufacturing GmbH

    Established in 2023 by FIT Additive Manufacturing Group, Agile Manufacturing GmbH is a leading provider of Agile Manufacturing Systems that empower manufacturers to improve productivity, flexibility, and responsiveness in fast-changing markets.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1f9cf84f-0ada-42a2-9b93-aa46d2968161

    The MIL Network –

  • MIL-OSI: Caisse Française de Financement Local EMTN 2019-2 C

    Source: GlobeNewswire (MIL-OSI)

    Paris, 18 October 2024

    Capitalised terms used herein shall have the meaning specified for such terms in the Caisse Française de Financement Local base prospectus to the €75,000,000,000 Euro Medium Term Note Programme dated 8 July 2024 (the “Base Prospectus”).

    Caisse Française de Financement Local has decided to issue on 22 October 2024 – Euro 150,000,000 Fixed Rate Obligations Foncières due 16 January 2034 to be assimilated upon listing and form a single series with the existing Euro 500,000,000 Fixed Rate Obligations Foncières due 16 January 2034 issued on 16 January 2019 and the existing Euro 150,000,000 Fixed Rate Obligations Foncières due 16 January 2034 issued on 14 February 2019.

    The Base Prospectus dated 8 July 2024 and the supplements to the Base Prospectus dated 13 September 2024 and 30 September 2024 approved by the Autorité des Marchés Financiers are available on the website of the Issuer (https://www.caissefrancaisedefinancementlocal.fr/), at the registered office of the Issuer: 112-114, avenue Emile Zola, 75015 Paris, France, and at the office of the Paying Agent indicated in the Base Prospectus.

    The Final Terms relating to the issue will be available on the website of the AMF (http://www.amf-france.org) and of the Luxembourg Stock Exchange (www.bourse.lu), at the office of the issuer and at the office of the Paying Agent.

    Attachment

    The MIL Network –

  • MIL-OSI: Asure Chief Executive Officer Pat Goepel Named Best CEO

    Source: GlobeNewswire (MIL-OSI)

    AUSTIN, Texas, Oct. 18, 2024 (GLOBE NEWSWIRE) — Asure (NASDAQ: ASUR), a leading provider of cloud-based Human Capital Management (HCM) software solutions, is pleased to announce that its Chairman and CEO, Pat Goepel, has been named the 2024 Best CEO of a Public Company by the Austin Business Journal (ABJ). This prestigious recognition celebrates Goepel’s outstanding leadership, strategic vision, and contributions to both the company and the greater Austin business community.

    When Goepel joined Asure as CEO in 2009, the company’s annual revenue was $10.03M. During his tenure, Asure has grown its annual revenue to $119M (nearly 12x) as Goepel has transformed the organization into a leading provider of HCM solutions, focusing on delivering innovative and comprehensive tools to help businesses optimize their workforce and workplace.

    Under Goepel’s direction, Asure has also sustained double-digit revenue growth over the past three years, driven by his ability to pivot and capitalize on emerging technologies and market opportunities. Goepel’s leadership at Asure is characterized by a dynamic blend of strategic vision, hands-on management, and a deep commitment to fostering a unified and empowering company culture. His focus as a leader is to drive meaningful change while ensuring that the entire organization is aligned and moving forward together.

    “I am honored to be recognized as the Best CEO of a Public Company in Austin,” said Goepel. “Effective leadership means ensuring that transformation permeates every level of the company, not just the top. This recognition is not only an honor for me, but also an acknowledgement of the great success made possible by our entire Asure team. It’s also a testament to the immense potential that lies ahead for Asure, the City of Austin, and the broader business community that Asure supports.”

    About Asure

    Asure (NASDAQ: ASUR) provides cloud-based Human Capital Management (HCM) software solutions that assist organizations of all sizes in streamlining their HCM processes. Asure’s suite of HCM solutions includes HR, payroll, time and attendance, benefits administration, payroll tax management, and talent management. The company’s approach to HR compliance services incorporates AI technology to enhance scalability and efficiency while prioritizing client interactions. For more information, please visit http://www.asuresoftware.com. 

    Contact Information:
    Patrick McKillop 
    Vice President, Investor Relations  
    617-335-5058
    patrick.mckillop@asuresoftware.com

    The MIL Network –

  • MIL-OSI: Unaudited Financial Report for the twelve months ended 30 June 2024 and Notice of Meeting

    Source: GlobeNewswire (MIL-OSI)

    OCTOPUS FUTURE GENERATIONS VCT PLC

    Unaudited Financial Report for the twelve months ended 30 June 2024 and Notice of Meeting

    Further to the announcement of the results for the period ended 30 June 2024, Octopus Future Generations VCT plc (the ‘Company’) announces that the Financial Report has been made available to shareholders. A copy of the Financial Report is also available to view on the Company’s website at https://octopusinvestments.com

    The Financial Report includes the Notice of Meeting for the Annual General Meeting of the Company to be held on 10 December 2024.

    The Financial Report, together with the Form of Proxy,  has been submitted to the Financial Conduct Authority and is available for inspection at the National Storage Mechanism, which is located at  https://data.fca.org.uk/#/nsm/nationalstoragemechanism

    For further information please contact:

    Rachel Peat

    Octopus Company Secretarial Services Limited
    Tel: +44 (0)80 0316 2067

    LEI: 213800AL71Z7N2O58N66

    The MIL Network –

  • MIL-OSI: Chino Commercial Bancorp Reports Quarterly Earnings

    Source: GlobeNewswire (MIL-OSI)

    CHINO, Calif., Oct. 18, 2024 (GLOBE NEWSWIRE) — The Board of Directors of Chino Commercial Bancorp (OTC: CCBC), the parent company of Chino Commercial Bank, N.A., announced the results of operations for the Bank and the consolidated holding company for the third quarter ended September 30, 2024.

    Net earnings year-to-date increased by 0.90% or by $33.2 thousand, to $3.74 million, as compared to $3.71 million for the same period last year. Year-to-date net earnings per share was $1.17 for the period ending September 30, 2024 and $1.16 for the same period last year. Net earnings for the third quarter of 2024, were $1.27 million, which represents a decrease of $7.6 thousand or 0.60% in comparison with the same quarter last year. Net earnings per basic and diluted share were $0.39 for the third quarter of 2024 and $0.40 for the same quarter in 2023, respectively.

    Dann H. Bowman, President and Chief Executive Officer, stated, “The Bank’s operating performance for the third quarter, and year-to-date continue to be strong. Total deposits reached an all time record at quarter-end, and we are optimistic about additional opportunities for growth and expansion. Loan quality also remains stable, with the Bank having only one delinquent loan at quarter-end, and year-to-date credit losses were a net recovery of $10,241, meaning that the Bank collected more bad debt than was charged-off.

    “In 2023 the Bank became a member of the Card Brand Association and began to offer Credit Card processing for its customers. Not only does this service provide an additional non-interest source of revenue, but the Bank has also been able to provide significant savings and transparency to its customers. For every business, efficient and cost effective processing of electronic payments has become a very important part of managing cash flow. In the future we can envision expanding this service outside of our immediate market; and the revenue from this service becoming an increasingly important part of the Bank’s business model.”

    Financial Condition

    At September 30, 2024, total assets were $464.4 million, an increase of $19.5 million or 11.68% over $446.4 million at December 31, 2023. Total deposits increased by $46.4 million or 14.52% to $366.2 million as of September 30, 2024, compared to $319.8 million as of December 31, 2023. At September 30, 2024, the Company’s core deposits represent 97.65% of the total deposits.

    Gross loans increased by $15.1 million or 8.4% to $194.4 million as of September 30, 2024, compared to $179.0 million as of December 31, 2023. The Bank had three non-performing loans for the quarter ended September 30, 2024, and as of December 31, 2023. OREO properties remained at zero as of September 30, 2024 and December 31, 2023 respectively.

    Earnings

    The Company posted net interest income of $3.4 million for the three months ended September 30, 2024 and $3.3 million for the same quarter last year. Average interest-earning assets were $442.1 million with average interest-bearing liabilities of $248.4 million, yielding a net interest margin of 3.08% for the third quarter of 2024, as compared to the average interest-earning assets of $442.9 million with average interest-bearing liabilities of $235.8 million, yielding a net interest margin of 2.98% for the third quarter of 2023.

    Non-interest income totaled $793.1 thousand for the third quarter of 2024, or an increase of 17.84% as compared with $673.1 thousand earned during the same quarter last year. The majority of the increase is attributed to the Company’s merchant services processing revenue that reached $129.2 thousand, representing an increase of $75.7 thousand during the third quarter as compared to $53.5 thousand for the same period last year.

    General and administrative expenses were $2.5 million for the three months ended September 30, 2024, and $2.2 million for the same period last year. The largest component of general and administrative expenses was salary and benefits expense of $1.5 million for the third quarter of 2024 and $1.4 million for the same period last year.

    Income tax expense was $500 thousand, which represents a decrease of $4 thousand or 0.77% for the three months ended September 30, 2024, as compared to $503 thousand for the same quarter last year. The effective income tax rate for the third quarter of 2024 and 2023 was approximately 28.3%.

    Forward-Looking Statements

    The statements contained in this press release that are not historical facts are forward-looking statements based on management’s current expectations and beliefs concerning future developments and their potential effects on the Company. Readers are cautioned not to unduly rely on forward-looking statements. Actual results may differ from those projected. These forward-looking statements involve risks and uncertainties, including but not limited to, the health of the national and California economies, the Company’s ability to attract and retain skilled employees, customers’ service expectations, the Company’s ability to successfully deploy new technology and gain efficiencies therefrom, and changes in interest rates, loan portfolio performance, and other factors.

    Contact: Dann H. Bowman, President and CEO or Melinda M. Milincu, Senior Vice President and CFO, Chino Commercial Bancorp and Chino Commercial Bank, N.A., 14245 Pipeline Avenue, Chino, CA. 91710, (909) 393-8880.

           
    Consolidated Statements of Financial Condition
    As of 9/30/2024      
      Sep-2024
    Ending Balance    		   Dec-2023
    Ending Balance
    Assets      
    Cash and due from banks $56,235,795     $35,503,719  
    Cash and cash equivalents $56,235,795     $35,503,719  
           
    Fed Funds Sold $34,246     $25,218  
           
    Investment securities available for sale, net of zero allowance for credit losses $6,735,550     $6,736,976  
    Investment securities held to maturity, net of zero allowance for credit losses $187,751,860     $208,506,305  
    Total Investments $194,487,410     $215,243,281  
           
    Gross loans held for investments $194,405,145     $179,316,494  
    Allowance for Loan Losses ($4,460,580 )   ($4,465,622 )
    Net Loans $189,944,565     $174,850,872  
    Stock investments, restricted, at cost $3,576,000     $3,126,100  
    Fixed assets, net $7,204,530     $5,466,358  
    Accrued Interest Receivable $1,466,479     $1,439,178  
    Bank Owned Life Insurance $8,421,648     $8,247,174  
    Other Assets $3,583,393     $3,010,916  
           
    Total Assets $464,413,004     $446,414,238  
           
    Liabilities      
    Deposits      
    Noninterest-bearing $186,644,255     $167,131,411  
    Interest-bearing $179,588,806     $152,669,374  
    Total Deposits $366,233,061     $319,800,785  
           
    Federal Home Loan Bank advances $0     $15,000,000  
    Federal Reserve Bank borrowings $40,000,000     $57,000,000  
    Subordinated debt $10,000,000     $10,000,000  
    Subordinated notes payable to subsidiary trust $3,093,000     $3,093,000  
    Accrued interest payable $1,556,057     $2,156,153  
    Other Liabilities $2,145,941     $1,876,475  
    Total Liabilities $423,028,059     $408,926,413  
           
    Shareholder Equity      
    Common Stock ** $10,502,558     $10,502,558  
    Retained Earnings $32,664,661     $28,920,732  
    Unrealized Gain (Loss) AFS Securities ($1,782,273 )   ($1,935,465 )
    Total Shareholders’ Equity $41,384,946     $37,487,825  
           
    Total Liab & Shareholders’ Equity $464,413,004     $446,414,238  
           
    ** Common stock, no par value, 10,000,000 shares authorized and 3,211,970 shares issued and outstanding at 9/30/2024 and 12/31/2023
           
             
    Consolidated Statements of Net Income
    As of 9/30/2024        
      Sep-2024
    QTD Balance    		 Sep-2023
    QTD Balance    		 Sep-2024
    YTD Balance    		 Sep-2023
    YTD Balance
    Interest Income        
    Interest & Fees On Loans $3,035,928   $2,467,400   $8,564,927   $7,245,563  
    Interest on Investment Securities $1,843,696   $1,166,387   $5,725,365   $3,444,135  
    Other Interest Income $661,305   $1,410,450   $2,181,584   $2,990,487  
    Total Interest Income $5,540,929   $5,044,237   $16,471,876   $13,680,185  
             
    Interest Expense        
    Interest on Deposits $1,168,014   $841,282   $3,255,683   $1,835,134  
    Interest on Borrowings $945,921   $877,179   $3,256,138   $2,112,955  
    Total Interest Expense $2,113,935   $1,718,461   $6,511,821   $3,948,089  
             
    Net Interest Income $3,426,994   $3,325,776   $9,960,055   $9,732,096  
             
    Provision For Loan Losses ($14,173 ) $6,578   ($15,312 ) ($81,806 )
             
    Net Interest Income After Provision for Loan Losses $3,441,167   $3,319,198   $9,975,367   $9,813,902  
             
    Noninterest Income        
    Service Charges and Fees on Deposit Accounts $445,176   $424,453   $1,345,691   $1,184,329  
    Interchange Fees $113,647   $106,418   $308,680   $314,803  
    Earnings from Bank-Owned Life Insurance $59,599   $48,677   $174,474   $142,799  
    Merchant Services Processing $129,184   $53,513   $410,722   $140,904  
    Other Miscellaneous Income $45,488   $39,989   $149,010   $130,747  
             
    Total Noninterest Income $793,094   $673,050   $2,388,577   $1,913,582  
             
    Noninterest Expense        
    Salaries and Employee Benefits $1,521,825   $1,381,721   $4,444,120   $4,101,388  
    Occupancy and Equipment $182,813   $164,092   $515,286   $485,502  
    Merchant Services Processing $77,452   $47,345   $222,055   $82,807  
    Other Expenses $684,102   $619,533   $1,964,230   $1,876,220  
             
    Total Noninterest Expense $2,466,192   $2,212,691   $7,145,691   $6,545,917  
             
    Income Before Income Tax Expense $1,768,070   $1,779,556   $5,218,253   $5,181,566  
    Provision For Income Tax $499,565   $503,424   $1,474,323   $1,470,859  
             
    Net Income $1,268,505   $1,276,132   $3,743,930   $3,710,707  
             
    Basic earnings per share $0.39   $0.40   $1.17   $1.16  
             
    Diluted earnings per share $0.39   $0.40   $1.17   $1.16  
             
    Effective Income Tax Rate   28.25 %   28.29 %   28.25 %   28.39 %
             
             
    Financial Highlights        
    As of 9/30/2024        
      Sep-2024
    QTD    		 Sep-2023
    QTD    		 Sep-2024
    YTD    		 Sep-2023
    YTD
    Key Financial Ratios        
    Annualized Return on Average Equity   12.42 %   14.34 %   12.73 %   14.57 %
    Annualized Return on Average Assets   1.08 %   1.09 %   1.06 %   1.13 %
    Net Interest Margin   3.08 %   2.98 %   2.97 %   3.11 %
    Core Efficiency Ratio   58.44 %   55.33 %   57.87 %   56.21 %
    Net Chargeoffs/Recoveries to Average Loans   -0.01 %   0.00 %   -0.01 %   -0.02 %
             
             
    Average Balances        
    (thousands, unaudited)        
    Average assets $ 466,891   $ 463,977   $ 472,470   $ 439,669  
    Average interest-earning assets $ 442,078   $ 442,870   $ 447,855   $ 418,593  
    Average interest-bearing liabilities $ 248,448   $ 235,812   $ 255,169   $ 209,835  
    Average gross loans $ 192,243   $ 178,251   $ 187,406   $ 179,089  
    Average deposits $ 344,372   $ 340,261   $ 335,140   $ 333,225  
    Average equity $ 40,630   $ 35,312   $ 39,297   $ 34,046  
             
             
    Credit Quality        
    Non-performing loans $ 448,233   $ 492,242      
    Non-performing loans to total loans   0.23 %   0.27 %    
    Non-performing loans to total assets   0.10 %   0.11 %    
    Allowance for credit losses to total loans   2.29 %   2.49 %    
    Nonperforming assets as a percentage of total loans and OREO   0.23 %   0.27 %    
    Allowance for credit losses to non-performing loans   995.15 %   907.20 %    
             
    Other Period-end Statistics        
    Shareholders equity to total assets   8.91 %   8.40 %    
    Net Loans to Deposits   51.72 %   54.52 %    
    Non-interest bearing deposits to total deposits   50.96 %   52.26 %    
    Company Leverage Ratio   9.91 %   9.26 %    

    The MIL Network –

  • MIL-OSI: VALUE LINE, INC. DECLARES A QUARTERLY CASH DIVIDEND OF $0.30 PER COMMON SHARE

    Source: GlobeNewswire (MIL-OSI)

    New York, Oct. 18, 2024 (GLOBE NEWSWIRE) — Value Line, Inc. (NASDAQ: VALU) announced today that its Board of Directors declared on October 18, 2024 a quarterly cash dividend of $0.30 per common share, payable on November 12, 2024, to stockholders of record on October 28, 2024. The Company has 9,418,074 shares of common stock outstanding as of October 18, 2024.

    Value Line, Inc. is a leading New York based provider of investment research. The Value Line Investment Survey is one of the most widely used sources of independent equity investment research. Value Line also publishes a range of proprietary investment research in both print and digital formats including research in the areas of Mutual Funds, ETFs and Options. Value Line’s acclaimed research also enables the Company to provide specialized products such as Value Line Select, The Value Line Special Situations Service, Value Line Select ETFs, Value Line Select: Dividend Income & Growth, The New Value Line ETFs Service, The Value Line M&A Service, Information You Should Know Wealth Newsletter, The Value Line Climate Change Investing Service and certain Value Line copyrights, distributed under agreements including certain proprietary ranking system information and other proprietary information used in third party products. Value Line’s products are available to individual investors by mail, at http://www.valueline.com or by calling 1-800-VALUELINE or 1-800-825-8354, while institutional-level services for professional investors, advisers, corporate, academic, and municipal libraries are offered at http://www.ValueLinePro.com, http://www.ValueLineLibrary.com and by calling 1-800-531-1425.

    Cautionary Statement Regarding Forward-Looking Information

    In this report, “Value Line,” “we,” “us,” “our” refers to Value Line, Inc. and “the Company” refers to Value Line and its subsidiaries unless the context otherwise requires.

    This report contains statements that are predictive in nature, depend upon or refer to future events or conditions (including certain projections and business trends) accompanied by such phrases as “believe”, “estimate”, “expect”, “anticipate”, “will”, “intend” and other similar or negative expressions, that are “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995, as amended. Actual results for Value Line, Inc. (“Value Line” or “the Company”) may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to the following:

    • maintaining revenue from subscriptions for the Company’s digital and print published products;
    • changes in investment trends and economic conditions, including global financial issues;
    • changes in Federal Reserve policies affecting interest rates and liquidity along with resulting effects on equity markets;
    • stability of the banking system, including the success of U.S. government policies and actions in regard to banks with liquidity or capital issues, along with the associated impact on equity markets;
    • continuation of orderly markets for equities and corporate and governmental debt securities;
    • problems protecting intellectual property rights in Company methods and trademarks;
    • protecting confidential information including customer confidential or personal information that we may possess;
    • dependence on non-voting revenues and non-voting profits interests in EULAV Asset Management, a Delaware statutory trust (“EAM” or “EAM Trust”), which serves as the investment advisor to the Value Line Funds and engages in related distribution, marketing and administrative services;
    • fluctuations in EAM’s and third party copyright assets under management due to broadly based changes in the values of equity and debt securities, sectoral variations, redemptions by investors and other factors;
    • possible changes in the valuation of EAM’s intangible assets from time to time;
    • possible changes in future revenues or collection of receivables from significant customers;
    • dependence on key executive and specialist personnel;
    • risks associated with the outsourcing of certain functions, technical facilities, and operations, including in some instances outside the U.S.;
    • competition in the fields of publishing, copyright and investment management, along with associated effects on the level and structure of prices and fees, and the mix of services delivered;
    • the impact of government regulation on the Company’s and EAM’s businesses;
    • federal and/or state legislative changes that might affect Value Line’s business;
    • the availability of free or low cost investment information through discount brokers or generally over the internet;
    • the economic and other impacts of global political and military conflicts;
    • continued availability of generally dependable energy supplies and transportation facilities in the geographic areas in which the company and certain suppliers operate;
    • terrorist attacks, cyber attacks and natural disasters;
    • insufficiency in our business continuity plans or systems in the event of anticipated or unpredictable disruption;
    • widespread illnesses which may drastically affect markets, employment, and other economic conditions, and may have additional unpredictable impacts on employees, suppliers, customers, and operations;
    • changes in prices and availability of materials and other inputs and services, such as freight and postage, required by the Company;
    • other risks and uncertainties, including but not limited to the risks described in Part I, Item 1A, “Risk Factors” of the Company’s Annual Report on Form 10-K for the year ended April 30, 2024 and in Part II, Item 1A of the Quarterly Report on Form 10-Q for the period ended July 31, 2024; and other risks and uncertainties arising from time to time.

    These factors are not necessarily all of the important factors that could cause actual results to differ materially from those expressed in any of our forward-looking statements. Other unknown or unpredictable factors which may involve external factors over which we may have no control or changes in our plans, strategies, objectives, expectations or intentions, which may happen at any time at our discretion, could also have material adverse effects on future results. Except as otherwise required to be disclosed in periodic reports required to be filed by public companies with the SEC pursuant to the SEC’s rules, we have no duty to update these statements, and we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In light of these risks and uncertainties, current plans, anticipated actions, and future financial conditions and results may differ from those expressed in any forward-looking information contained herein.

    http://www.valueline.com
    http://www.ValueLinePro.com, http://www.ValueLineLibrary.com
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    The MIL Network –

  • MIL-OSI: Oriental Rise Holding Limited Announces Closing of Initial Public Offering

    Source: GlobeNewswire (MIL-OSI)

    Ningde, China, Oct. 18, 2024 (GLOBE NEWSWIRE) —  Oriental Rise Holding Limited (“Oriental Rise” or the “Company”) (NasdaqCM: ORIS), an integrated supplier of tea products in mainland China, today announced the closing of its initial public offering (the “Offering”) of 1,750,000 ordinary shares at a public offering price of $4 per share. The ordinary shares began trading on Nasdaq Capital Market under the ticker symbol “ORIS” on October 17, 2024.

    The Company received aggregate gross proceeds of $7 million from the Offering, before deducting underwriting discounts and other related expenses. In addition, the Company has granted the underwriter an option, exercisable within 45 days from the date of the underwriting agreement, to purchase up to an additional 262,500 ordinary shares at the public offering price, less underwriting discounts and commissions. The Offering was conducted on a firm commitment basis.

    US Tiger Securities, Inc. acted as sole book runner for the Offering. The Crone Law Group served as counsel to the Company. VCL Law LLP served as counsel to the underwriter.

    A registration statement on Form F-1, as amended (File No. 333-274976) relating to the Offering was previously filed with the Securities and Exchange Commission (“SEC”) by the Company, and subsequently declared effective by the SEC on September 30, 2024. The Offering is being made only by means of a prospectus, forming a part of the registration statement. A final prospectus relating to the Offering was filed with the SEC on October 17, 2024 and is available on the SEC’s website at http://www.sec.gov. Electronic copies of the final prospectus related to the Offering may be obtained, when available, from US Tiger Securities, Inc., 437 Madison Avenue, 27th Floor, New York, New York 10022, or by telephone at +1 646-978-5188.

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

    About Oriental Rise Holding Limited

    Oriental Rise Holding Limited is an integrated supplier of tea products in mainland China. Our major tea products include (i) primarily-processed tea consisting of white tea and black tea, and (ii) refined white tea and black tea. Our business operations are vertically integrated, covering cultivation, processing of tea leaves and the sale of tea products to tea business operators (such as wholesale distributors) and end-user retail customers in mainland China. We operate tea gardens located in Zherong County, Ningde City in Fujian Province of mainland China. For more information, visit the Company’s website at https://ir.mdhtea.cn/.

    Forward-Looking Statements

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

    For more information, please contact:

    Investor Relations:
    Sherry Zheng
    Weitian Group LLC
    Phone: 718-213-7386
    Email: shunyu.zheng@weitian-ir.com

    The MIL Network –