NewzIntel.com

Category: KB

  • MIL-OSI Asia-Pac: CE meets Heilongjiang officials

    Source: Hong Kong Information Services

    Continuing his visit to Harbin, Chief Executive John Lee today called on leaders of Heilongjiang Province, visited injured Hong Kong ice hockey athletes, met Hong Kong people working in the three northeastern provinces, and toured the Beidahuang Museum.

    Mr Lee met respectively CPC Heilongjiang Provincial Committee Secretary Xu Qin and Heilongjiang Governor Liang Huiling to exchange views on issues of mutual concern.

    The Chief Executive remarked that Heilongjiang Province has leveraged the ice and snow economy as a new engine for economic development by making good use of its rich tourism resources while actively promoting winter sports. He added that Heilongjiang Province sets an example of integrating sports with cultural and tourism development, which is inspiring to Hong Kong.

    Noting that Hong Kong is the largest source of external investment for Heilongjiang, Mr Lee said Hong Kong, as a “super connector” and a “super value-adder”, can serve the Mainland in exploring global markets.

    Additionally, highlighting that the Individual Visit Scheme has been extended to include Harbin in Heilongjiang Province since last May, while direct flights between Harbin and Hong Kong were launched last June, Mr Lee said tourism co-operation between the two places has been strengthened, thereby promoting people-to-people bonds.

    The Beijing Office and Liaoning Liaison Unit of the Hong Kong Special Administrative Region Government will continue to serve as a bridge to enhance exchanges between Hong Kong and Heilongjiang in various areas, he added.

    Separately, Mr Lee visited the Hong Kong ice hockey players who were injured yesterday after a match at the 9th Asian Winter Games Harbin 2025, to understand their condition and offer his support.

    The Chief Executive stressed that he is highly concerned about the attack on Hong Kong athletes. He has requested the Sports Federation & Olympic Committee of Hong Kong, China as well as the Culture, Sports & Tourism Bureau to follow up on the incident and make every effort to ensure the athletes’ safety.

    He pointed out that the Hong Kong players had remained calm and restrained during the incident, demonstrating professionalism and sportsmanship, and praised the ice hockey team for its outstanding performance in the past competitions, making Hong Kong people proud.

    The Chief Executive also encouraged the athletes not to let the incident affect their morale, to take good care of themselves and to give their best in the Games, assuring them that Hong Kong people would fully support them.

    While meeting Hong Kong people working and doing business in the three northeastern provinces to learn about their daily lives and development, he encouraged them to introduce Hong Kong’s latest developments to local enterprises and tell the good stories of Hong Kong.

    In the afternoon, Mr Lee visited the Beidahuang Museum to understand the transformation of the “Great Northern Wilderness”, a plain region in northeastern Heilongjiang, from a barren wilderness into a key commodity grain base and a strategic grain reserve base of China. He also gained insights into the “Beidahuang spirit” which embodies perseverance, resilience and a pioneering mindset.

    Meanwhile, Secretary for Culture, Sports & Tourism Rosanna Law had a work meeting with Heilongjiang Province Department of Culture & Tourism Director-General He Jing this afternoon, during which she gave a briefing on the latest developments of Hong Kong’s culture and tourism.

    Miss Law told the meeting that as the cultural and tourism resources of Hong Kong and Heilongjiang are unique in their own ways, there is significant potential for collaboration. She expressed hope to expand the market and drive bilateral tourism flow with Heilongjiang in the future.

    The Chief Executive will head back to Hong Kong tomorrow.

    MIL OSI Asia Pacific News –

  • MIL-OSI Economics: Airbus awarded Oberon satellites contract by UK MOD

    Source: Airbus

    Headline: Airbus awarded Oberon satellites contract by UK MOD

    London, UK, 10 February 2025 – Airbus has been awarded the UK Ministry of Defence’s (MOD) Oberon contract to design and build two Synthetic Aperture Radar (SAR) satellites with day-and-night, all-weather, space-based ‘Intelligence, Surveillance and Reconnaissance’ (ISR) capability.

    MIL OSI Economics –

  • MIL-OSI China: China tightens public security camera management for privacy protection

    Source: China State Council Information Office 2

    China on Monday made public a new set of regulations to better protect personal privacy while safeguarding public security.
    Chinese Premier Li Qiang has signed a State Council decree to issue the regulations, which comprise 34 articles and will come into effect on April 1.
    The regulations aim to govern the management of public security video systems, maintain public safety, and protect personal privacy and rights and interests of personal information, according to the regulations.

    MIL OSI China News –

  • MIL-OSI China: Rescue efforts continue after landslide hits southwest China village

    Source: China State Council Information Office 2

    Rescuers are working around the clock to locate survivors after a landslide hit a village in Sichuan Province, southwest China Saturday morning.
    The landslide occurred at about 11:50 a.m. on Saturday in the mountainous village of Jinping in Junlian County under the city of Yibin. As of Sunday, local authorities confirmed one person to be dead, 28 missing, and two injured.
    Xinhua reporters at the scene saw firefighters, equipped with life detectors, advancing through the rubble despite the challenging conditions. They frequently crouched down, using their hands to explore cracks and crevices, meticulously searching for any signs of life.
    Radar systems have been deployed on the mountainside to provide real-time monitoring of terrain stability, according to the tunnel emergency rescue team from Yunnan Province, southwest China.
    Meanwhile, geological experts are using drones and advanced surveying equipment to provide technical and safety support. At the site of the landslide, excavators and search teams remain steadfast, racing against time in the ongoing search and rescue mission.
    Rescue operations have been hampered by slippery conditions due to wet and cold weather, and the region’s complex terrain, said a staffer with the fire and rescue brigade in Yibin.
    Drone footage on Sunday morning showed a vast collapse zone stretching from the mountain summit to the base. The landslide spans around 100 meters in width, with a vertical drop of over 400 meters and extending 1.2 kilometers.
    So far, 360 people from 95 households have been evacuated to temporary shelters. The two injured people are receiving treatment.
    Sichuan has mobilized 949 personnel from the military, armed police, firefighting, emergency response, transportation, medical, telecommunication, and other forces to carry out or assist with the rescue efforts.

    MIL OSI China News –

  • MIL-OSI China: Macron says tariffs on EU not in US interests

    Source: China State Council Information Office

    French President Emmanuel Macron has said that tariffs on the European Union (EU) are not in the interests of the United States.

    “If you want Europe to be engaged on more investment in security … which I think is in the interests of the U.S., you should not hurt the European economies by threatening it with tariffs,” Macron told CNN in an interview aired on Sunday, stressing that Europe is a U.S. ally.

    If Washington puts tariffs on many sectors, that will increase the costs of goods and bring inflation in the United States, warned Macron.

    A lot of the European savings are financing the U.S. economy, explained the French president. “If you start putting tariffs everywhere, you would cut the link, and it would not be good for the financing of the U.S. economy.”

    Earlier this month, Trump threatened the EU with new tariffs, citing Europe’s huge trade surplus with the United States.

    MIL OSI China News –

  • MIL-OSI China: China deplores US-Japan statement that interferes in China’s domestic affairs

    Source: China State Council Information Office

    China deplores and strongly opposes the latest joint statement made by the United States and Japan concerning China, as the statement is brazen interference in China’s domestic affairs, foreign ministry spokesperson Guo Jiakun said Monday.

    The joint statement released last week expressed support for Taiwan’s so-called meaningful participation in international organizations, and reaffirmed that Article V of the U.S.-Japan Treaty of Mutual Cooperation and Security applies to the Diaoyu Dao, an inherent part of China’s territory.

    In response, Guo told a daily news briefing that the China-related content of the joint statement blatantly interferes in China’s internal affairs, smears China and plays up regional tensions.

    China has lodged solemn representations with Japan, Guo said.

    Noting that the Taiwan question is purely China’s internal affairs and central to its core interests, he said the country will not tolerate any external interference.

    The governments of the United States and Japan have made solemn commitments to China on the Taiwan question. Furthermore, Japan should be more cautious in words and actions because it bears the grave historical responsibility for invading and colonizing Taiwan, Guo added.

    He said if those countries really care about peace and stability across the Taiwan Strait, they should abide by the one-China principle and unequivocally oppose “Taiwan independence.”

    The Taiwan region’s participation in the activities of international organizations must and can only be handled in line with the one-China principle, and Taiwan does not have any ground, reason or right to join international organizations whose membership is confined to sovereign states, he said.

    The Diaoyu Dao and its affiliated islands have always been part of China’s territory, and it is legitimate and lawful for China to conduct activities in relevant waters, Guo said.

    “We urge the United States and Japan to abide by the one-China principle and their own commitments, immediately stop interfering in China’s internal affairs, refrain from sending any wrong signal to the ‘Taiwan independence’ forces, earnestly respect China’s territorial sovereignty and maritime rights and interests, stop manipulating China-related issues, and take concrete actions to play a constructive role in promoting regional peace and development,” he said.

    MIL OSI China News –

  • MIL-OSI United Kingdom: UK-India defence agreements boost ‘Atmanirbhar Bharat’ ambition

    Source: United Kingdom – Government Statements

    The UK-India strategic partnership has taken another major step forward with the formal launch of Defence Partnership – India (DP-I) and the signing of several defence agreements at Aero India 2025.

    Announcing DP-I, UK Defence Minister Lord Vernon Coaker opened the UK-India Defence Partnership Pavilion, establishing a dedicated programme office within the UK’s Ministry of Defence that will serve as a one-stop shop for strengthening bilateral defence collaboration between the two countries.

    The UK and India have today agreed to expand their collaboration on next-generation weapons with Thales and Bharat Dynamics Limited (BDL). Thales and BDL have signed a contract that will deliver Laser Beam Riding MANPADs (LBRM), with an initial supply of High Velocity Missiles (STARStreak) and launchers to be delivered this year. This contract represents an important next step for UK-Indian defence co-operation in the critical area of air defence.

    Lord Vernon Coaker, UK Defence Minister, said:

    It was a pleasure to visit India and continue to grow our already strong defence relationship. Our Defence Partnership and the UK-India Defence Partnership Pavilion will help strengthen our cooperation further, supporting economic growth in both our countries and India’s Atmanirbhar ambition.

    This event showcases our collaboration in next generation capability, and the massive potential the UK and India can unlock by working together.

    Following the signing of this initial LBRM contract, both Thales and BDL will further collaborate to produce Lightweight Multirole Missiles (LMM). This develops and expands the partnership between Indian and British industry, laying the foundation for BDL and Indian industry to form an integral part of Thales’ global supply chain. It will address mutual security concerns, create jobs in both countries and enable interoperability by both armies.

    Lindy Cameron, British High Commissioner to India, said:

    India is taking significant steps in its journey to become Atmanirbhar in its defence capabilities. The UK is really looking forward to working with India as a partner of choice in supporting this ambition: collaborating on defence technologies lies at the heart of this. These are landmark agreements that support our economic growth and joint security.

    In a separate development, MBDA UK and BDL have been working together on the installation of a first of its kind Advanced Short-Range Air to Air Missile (ASRAAM) assembly and test facility in Hyderabad, arming current fleet of India’s fighter jets as well as exporting to the world.

    On the maritime front, the UK and India have signed a Statement of Intent to design and develop an Integrated Full Electric Propulsion (IFEP) system for India’s next generation Landing Platform Dock (LPD) fleet. As next steps, GE Vernova and BHEL are working to develop India’s first maritime Land Based Testing Facility to deliver LPD in the water by 2030.

    The strengthening of UK-India partnership will directly support India’s ‘Atmanirbhar Bharat’ ambition and deliver the UK Government’s growth agenda and Plan for Change.

    Further information

    • Free-to-use high resolution images of the UK delegation at Aero India will be uploaded online: www.flickr.com/photos/ukinindia.

    • The British companies at Aero India 2025 are Rolls Royce, BAE Systems, MBDA UK, Thales UK, GE Vernova, Leonardo, Strongfield Technologies, ASL, SEKO Logistics, Jaguar Engineering Centre of Excellence, Aviation Defence Supplies Ltd and Ricardo.

    • Following the signing of the LBRM contract both Thales UK and BDL will further collaborate to co-produce Lightweight Multirole Missiles with BDL forming an integral part of the Thales supply chain, increasing manufacturing capacity for global export.

    • UK Defence invested £69 million to secure Thales UK supply chain for key components used in the manufacture of missiles in 2024.

    • The landmark maritime electric propulsion capability transfer will ensure self-reliance in the power and propulsion of the Indian Navy’s next generation fleets.

    Media

    David Russell, Communications Counsellor and Spokesperson,
    British High Commission, Chanakyapuri,
    New Delhi 110021. Tel: 24192100

    Media queries: BHCMediaDelhi@fcdo.gov.uk

    Follow us on Twitter, Facebook, Instagram, Flickr, Youtube and LinkedIn

    Updates to this page

    Published 10 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Dmitry Grigorenko: The first regional services “life situations” have been launched

    Translartion. Region: Russians Fedetion –

    Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

    Regional services “life situations” have been launched in Russia for the first time. 85 services “life situations” have been launched on the unified portal of state services and regional portals for the provision of services, which include services provided by the subjects of the Russian Federation. With the help of the services “life situations” the time for receiving state services is reduced, as well as the number of visits to departments and documents that need to be provided.

    Life situations services combine services that are needed by people and businesses in certain circumstances, provided comprehensively and in one place.

    At the federal level, the “life situations” services are being implemented since 2023. 34 federal “life situations” services have already been launched. In particular, these are services for large families, replacement and restoration of documents, moving to another region, opening a business.

    To date, more than 1.5 million people have used the federal “life situations” services.

    Within the framework of one regional service, “life situation” has decreased on average:

    – the time to receive services is almost 2 times shorter – up to 25 days;

    – the number of documents that need to be submitted to departments is doubled – up to 4 units;

    – the number of in-person visits to departments has increased fourfold, to one.

    “Citizens are faced with the need to receive government services that are provided both at the federal and regional levels. It is important that a person receives a comfortable service regardless of whether these services are federal or regional. For this purpose, we have launched the “life situations” services, including those that combine regional services. The practice of using the most successful of them will be extended to other regions. That is, some of the “life situations” created in a specific region will become federal,” commented Deputy Prime Minister – Chief of the Government Staff Dmitry Grigorenko.

    For example, in the Republic of Buryatia, the service “life situation” helps in arranging care for an elderly relative at home and in providing the relative with assistance from a social worker. A person interacts with all departments in the “one-stop shop” mode on the page of the service “life situation”.

    The service “life situation” in the Yaroslavl region allows you to learn about the procedure for filing an application to receive the title “Veteran of Labor”. The service informs about the rights arising in connection with the assignment of the status “Veteran of Labor”, about the possibility of receiving regional social support measures, about the conditions for their appointment and provision.

    The service “life situation” in the Ryazan region helps to undergo a medical examination and preventive examination. Thanks to the service, you can sign up for a medical examination, fill out the documents required to visit the clinic, and get information on preparing for diagnostic tests. The results of the tests are sent to the citizen’s personal account on the public services portal.

    The “life situations” services launched in other regions allow one to solve a wide range of social issues, such as entering college or technical school, receiving regional support measures for the birth of children, and others.

    By the end of 2025, another 340 regional “life situations” services are planned to be launched. Thus, it is planned that by the end of 2025, 425 regional “life situations” services will be available.

    Work on the formation and launch of the “life situations” services is being carried out within the framework of the implementation of the federal project “State for People”.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI United Nations: Italy and WFP partner to reduce malnutrition in Eastern Sudan

    Source: World Food Programme

    PORT SUDAN/NAIROBI– The United Nations World Food Programme (WFP) in Sudan welcomes a contribution of EUR6.55 million from the Italian Agency for Development Cooperation (AICS). This vital funding will enable WFP to provide specialized nutritious foods and cash-based nutrition assistance to nearly 200,000 young children and pregnant or nursing women in Gedaref and Kassala states.

    This support will help prevent malnutrition in eastern Sudan, which is critical as some 3.7 million children under five and pregnant and breastfeeding mothers across the country are malnourished.     

    “Amid Sudan’s deepening hunger crisis, this generous contribution will help to improve diets among vulnerable women and children, which is key to reducing malnutrition. We are extremely grateful to the Government of Italy,” said Mr. Laurent Bukera, WFP Regional Director for Eastern Africa. 

    Sudan continues to face a catastrophic humanitarian situation with approximately 24.6 million people – nearly half of Sudan’s population – facing acute food insecurity (IPC Phase 3+). Twenty-seven locations across Sudan are either in famine or at risk of famine, while more than one-third of children in the hardest hit regions are acutely malnourished.

    “With this project, Italy is at the forefront in Sudan in supporting the most vulnerable populations. The partnership with WFP is a tangible example of our commitment in the fight against malnutrition, ensuring access to essential nutritional support for those most in need. This initiative also reflects Italy’s broader strategy of humanitarian assistance and sustainable development, reinforcing long-term resilience and food security in the region” – stated the Ambassador of Italy to Sudan, Michele Tommasi. 

    Since the start of Sudan’s conflict nearly 22 months ago, WFP has provided nutrition assistance to prevent and treat malnutrition to nearly 2.5 million women and children. WFP is working tirelessly to expand food and nutrition assistance to millions more people across Sudan – aiming to triple the number of people it supports to 7 million. Italy has been a long-time supporter of WFP in Sudan, contributing nearly EUR15 million since 2021.   

    #                 #                   #

    The United Nations World Food Programme is the world’s largest humanitarian organization saving lives in emergencies and using food assistance to build a pathway to peace, stability and prosperity for people recovering from conflict, disasters and the impact of climate change.

    Follow us on X, formerly Twitter, via @wfp_media and @wfp_sudan

    MIL OSI United Nations News –

  • MIL-OSI United Nations: EU supports early action as climate extremes compound hunger in the Greater Horn of Africa

    Source: World Food Programme

    NAIROBI – The Danish Refugee Council (DRC), United Nations Food and Agriculture Organisation (FAO), International Federation of the Red Cross and Red Crescent Societies (IFRC), IGAD Climate Prediction and Applications Centre (ICPAC), and the World Food Programme (WFP) have welcomed a contribution of EUR4 million from the Directorate-General for European Civil Protection and Humanitarian Aid Operations (DG ECHO) to launch a joint project to protect vulnerable communities in the Greater Horn of Africa from the devastating impacts of climate extremes, conflict, and displacement.

    “Increasingly frequent and intense climate extremes such as droughts and floods are compounding existing drivers of hunger such as conflict, displacement and economic instability. As livestock and crops perish, livelihoods are lost, and hunger deepens. Early action saves lives, builds people’s resilience to face future crises, and eases the strain on limited humanitarian resources,” said Rukia Yacoub, WFP’s Deputy Regional Director for Eastern Africa. 

    ‘Scaling Coordinated Multi-Hazard and Conflict-Sensitive Anticipatory Action in the Greater Horn of Africa’ will support 450,000 vulnerable people in Ethiopia and Somalia for two years by reducing the impacts of forecasted shocks before they become crises through capacity strengthening of weather agencies to provide timely, accurate forecasts, enabling better community and government response.

    “The IGAD region faces escalating risks from droughts, floods, cyclones, and conflicts, worsening humanitarian crises that threaten lives and livelihoods. This project proposes a holistic, regional, and harmonized approach to strengthen early warning systems for anticipatory action, enhance cross-border coordination, and facilitate risk-informed decision-making to ensure timely, life-saving early actions. With the March-May forecast indicating below-normal rainfall for the upcoming season, urgent preparedness is essential. Furthermore, this funding will directly support the implementation of the IGAD Regional Roadmap for Anticipatory Action, aiding member states in anticipating and undertaking early actions, improving coordination, and building resilience against climate shocks,” said Dr. Workneh Gebeyehu, IGAD’s Executive Secretary.

    The 2024-2026 project includes an additional EUR2.7 million joint contribution from the five implementing partners (DRC, FAO, IFRC, IGAD and WFP).

    “By supporting this new programme, the European Union intends to enhance our delivery of Anticipatory Action ahead of disasters which are predictable in the region and promote the resilience of communities across the region,” said Ségolène de Beco, the head of the European Union’s regional humanitarian aid office in Nairobi.

    MIL OSI United Nations News –

  • MIL-OSI United Nations: IOM Deeply Alarmed by Mass Graves Found in Libya, Urges Action

    Source: International Organization for Migration (IOM)

    Tripoli, 10 February 2025 – The International Organization for Migration (IOM) has expressed shock and concern at the discovery of two mass graves in Libya containing the bodies of dozens of migrants, some with gunshot wounds.

    Nineteen bodies were discovered in Jakharrah (around 400 km south of Benghazi), while at least 30 more were found in a mass grave in the Alkufra desert in the southeast. It is believed the second grave may contain as many as 70 bodies.

    The circumstance of their death and nationalities remains unknown. Their graves were both discovered following a police raid, during which hundreds of migrants were rescued from traffickers. Security forces continue operations to capture those responsible.

    “The loss of these lives is yet another tragic reminder of the dangers faced by migrants embarking on perilous journeys,” said Nicoletta Giordano, IOM Libya Chief of Mission. “Far too many migrants along these journeys endure severe exploitation, violence and abuse, underscoring the need to prioritize human rights and protect those at risk.”

    IOM acknowledges the efforts of the Libyan authorities in investigating these deaths and urges them, along with UN partner agencies, to ensure a dignified recovery, identification, and transfer of the remains of the deceased migrants, while notifying and assisting their families.

    Last March the bodies of 65 migrants were found in a mass grave in the southwest of the country.

    According to IOM’s Missing Migrants Project, out of the 965 recorded deaths and disappearances in Libya in 2024, more than 22 per cent occurred on land routes. This highlights the often-overlooked risks migrants face on land routes, where fatalities frequently go underreported. Strengthening data collection, search and rescue efforts, and migrant protection mechanisms along these routes is crucial to preventing further loss of life.

    IOM in Libya continues to provide humanitarian assistance to vulnerable migrants and works to strengthen the capacity of relevant authorities to conduct life-saving search and rescue operations in the desert and at sea. This includes training in human rights obligations and ensuring that border management is in accordance with international law, with a protection-focused approach to assist those most at risk.

    IOM urges all governments and authorities along the route to strengthen regional collaboration to safeguard and protect migrants, irrespective of their status, throughout all stages of their journeys.

     

    For more information, please contact:

    In Libya: Giacomo Terenzi, gterenzi@iom.int

    In Cairo: Joe Lowry, jlowry@iom.int

    In Geneva: Kennedy Okoth kokoth@iom.int

    MIL OSI United Nations News –

  • MIL-OSI USA: Irradiator Removal Saves Millions of Dollars While Making Campuses Safer

    Source: US State of Connecticut

    In a milestone move intended to increase campus safety and lower operational costs, safety officials at UConn Storrs and UConn Health recently coordinated the removal of four cesium-sourced irradiators used for research and medical purposes.

    The disposal operation – a costly, highly-choreographed effort at each site that involved cranes, giant disposal casks, flatbed trucks, and campus and state police escorts – was made possible through the Cesium Irradiator Replacement Project (CIRP), a voluntary initiative of the U.S. Department of Energy (DOE) offering financial incentives to medical and research institutions willing to replace cesium-137 irradiators with new x-ray-based devices. Run by DOE’s National Nuclear Security Administration (NNSA), Office of Radiological Security (ORS), the program covers 100% of the cost of disposing cesium-137 based irradiators and reimburses up to 50% of the purchase price of new equipment.

    Kevin Higgins, the radiation safety officer at UConn Health, estimates it would have cost roughly $580,000 each – a total of $1.74 million – had UCH attempted to dispose its three irradiators on its own. Another $450,000 to $500,000 in savings was realized, he says, thanks to CIRP covering half the cost of two new X-ray irradiators that replaced the two cesium-based devices used by researchers and the blood bank at UCH. A third cesium irradiator no longer in use, was removed but not replaced.

    At Storrs CIRP helped offset roughly $882,000 in costs associated with the removal and replacement of its single cesium-sourced irradiator, a 1969-era model housed in the Pharmacy Biology Building and used for genetics and cell research, says Amy Courchesne, the radiation safety officer at UConn Storrs. The program also reimbursed the cost of add-ons for the new X-ray irradiator, which included specialized accessories, and $16,000 for modifications to the room it occupies, and a service contract.

    “If we decided not to go with CIRP, the University would have had to cover those costs,” she says.

    The primary goal of CIRP is to reduce the security risks associated with the institutional use of cesium-137 and cobalt-60 sourced irradiators. The irradiators are safely shielded to protect users from exposure but contain highly radioactive isotopes with a long half-life that could pose a significant health risk if dismantled from their protective shielding or released into the environment.

    While radioactive source irradiators have benefits, such as scientific research and the irradiation of blood, they would pose a grave risk to communities should they be lost or stolen. In the wrong hands, even a small amount of high-activity radioactive material could be used in an act of radiological terrorism.

    Contributed photo.

    UConn is among the hundreds of academic, medical, and other institutions to participate in CIRP since its inception in 2014. In course of 10 years, the program has facilitated the replacement of 67% of the radio-isotopic irradiators in the United States, according to Evan Thompson, a foreign affairs specialist with NNSA.

    As of Sept. 5, 2024, some 235 cesium-137-sourced blood irradiators have been replaced through the program and 82% of self-shielded cesium-137-based blood irradiators in the U.S. have been replaced, removed, or are slated for removal by contract or pledge.

    Replacing the irradiators at both sites required a great deal of planning, teamwork, and coordination. At UCH, the new research irradiator was installed prior to the cesium irradiator being removed. For the blood bank, an entirely new location for blood irradiation was constructed.

    On removal day, UConn, state, and local police were onsite to secure the site and manage traffic flow. The irradiators were then disassembled to access the shielded containers housing the radioactive sources. The containers, which weigh several thousand pounds, were then moved under police escort to a loading dock, lifted from there to a loading dock and placed on the ground. A crane then hoisted them up and into a specially designed shipping cask securely fastened to the flatbed tractor-trailer. As a last step, the cask was pressure tested to ensure proper assembly and escorted offsite by state and local police.

    The advantages of participating in the program go well beyond the cost savings associated with removal and replacement, notes Courchesne. The bureaucratic and regulatory aspects of operating the cesium-sourced irradiators were significant.

    “Due to security, FBI background checks were required for unescorted access,” she says. “After 9/11, the Nuclear Regulatory Commission put additional security orders into effect, including 24/7 monitoring, fail-safe monitoring with backup power, contingency planning and more.”

    The stricter rules prohibited the university from publicly disclosing that it owned a cesium-sourced irradiator, which limited use of the device to researchers within the university. Individuals interested in using the irradiator for research had to contact Courchesne and take an exam to ensure they had the capability to safely use it, then be escorted by radiation safety personnel when they used it.

    Under CIRP, the cradle-to-grave custodianship of the cesium-sourced devices shifts from the owning institution to the federal government, freeing UConn and UCH from that responsibility and any associated costs.

    At Storrs, the removal was facilitated by UConn’s Office of Vice President for Research (OVPR). Jeremy Blasbaugh, director of UConn’s Center of Open Research Resources (COR²E), will oversee the installation and the new X-ray irradiator at that site and its future use by researchers.

    “As the radiation safety officer, I’m excited that researchers will be able to use the replacement X-ray irradiator,” says Courchesne. “We can share about it and promote collaboration. We don’t have the liability and regulatory restrictions around the device anymore.”

    MIL OSI USA News –

  • MIL-Evening Report: Trump’s USAID freeze ‘undermines relationships in Pacific’, says editor

    RNZ Pacific

    Marshall Islands Journal editor Giff Johnson says US President Donald Trump’s decision on aid “is an opening for anybody else who wants to fill the gap” in the Pacific.

    Trump froze all USAID for 90 days on his first day in office and is now looking to significantly reduce the size of the multi-billion dollar agency.

    The Pacific is the world’s most aid dependent region, and Terence Wood from the Australian National University Development Policy Centre told RNZ Pacific this move would hit hard.

    “The US is the Pacific’s largest aid donor and what is happening there is completely unprecedented . . .  there’s also a cruel irony that Elon Musk is the world’s wealthiest man and right now he seems to be calling the shots with decisions that are literally going to be life or death for the world’s poorest people . . .  it’s hard to wrap one’s head around,” he said.

    Marshall Islands Journal owner and editor Giff Johnson on the USAID crisis. Video: RNZ Pacific

    Wood was concerned about how the dismantling of USAID would impact the Pacific.

    “It’s not a good time to be in the world’s most aid dependent region . . .  indeed Sāmoa PM Fiame Naomi Mata’afa has already expressed concern about what might happen to funding for organisations like the World Health Organisation . . .  so everyone is watching this with considerable alarm”.

    ‘It’s hard to believe that Trump has changed his sense’
     Editor Johnson said said in an interview with RNZ Pacific last week that Trump’s shutdown of USAID was at odds with the increased engagement in the Pacific.

    He said the move did not line up with the President’s rhetoric on China, and the fact the new US compact agreements were instigated by his administration the last time he was in power.

    “So it’s hard to believe that Trump has changed his sense and I mean, he’s putting tariffs in on China, right? . . .  So that’s still very much in play,” Johnson said.

    “It’s just like amazing to me that that they’re willing to undermine relationships in the Pacific that they claim to be a very important region for them.

    “And you know, this is, I mean, certainly it’s an opening for anybody else who wants to fill the gap, I suppose, until Washington decides what it is doing.”

    USAID shutdown bug thing for Pacific
    Meanwhile, in the Cook Islands, the vice-chairperson of the Pacific energy regulators Alliance said Trump’s shutdown of USAID was a big deal for the region.

    Dean Yarrall said his organisation was planning a multi-day training course on best practices in electricity regulation, funded by the US, which had now been called off.

    He said the cancelling of the training course caught his organisation off guard.

    “We’re seeing a lot of competition between parties, the Chinese are looking to increase the influence Australia as well and the US through USAID are big supporters of the Pacific so seeing USA sort of drop away, I think that will be a big thing,” Yarrall said.

    This article is republished under a community partnership agreement with RNZ.

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI United Kingdom: Northumbrian manufacturer wins data-centre work with UKEF backing

    Source: United Kingdom – Executive Government & Departments

    Salem Tube is moving into the rapidly-growing sector thanks in part to support from the government’s export credit agency.

    • Based in Prudhoe, County Durham, Salem Tube has traded for over 30 years and makes industrial tubing.

    • It has traditionally served the energy sector but is taking on more and more orders from developers of data-centres.

    • Data-centres have high energy requirements and cannot function without cooling equipment provided by Salem Tube.

    A manufacturer from Northumberland is taking on new business with data-centre developers after securing the support of UK Export Finance (UKEF) and Santander UK.

    Salem Tube has traded since 1992 and supplies tubes for heat-transfer and heat-exchange – something essential to industrial cooling systems. It exports to over 40 countries a year, typically in the energy sector.

    As the market for AI and cloud data storage grows rapidly, Salem has been taking on more and more contracts in this area.

    Salem has now agreed a financing package worth £3.5 million which is provided by Santander UK and backed by the government through UKEF. This gives the business the capital which it needs to take on larger data-centre contracts and establish itself as a supplier to this emerging sector.

    UKEF offers its General Export Facility (GEF) scheme through all the major UK banks and a range of non-bank lenders. This allows exporters to access working capital facilities up to around £25 million.

    Pat Kendell, Senior Export Finance Manager (North East England), UKEF:

    Salem Tube is a perfect example of how businesses in the north are adapting and thriving in emerging sectors. This deal shows how government backing can help established manufacturers to seize new opportunities in the industries of the future. By supporting Salem Tube’s move into the data-centre market, UKEF is helping to safeguard jobs and boost exports in the North-East.

    Mark Ling, Head of Trade & Supplier Finance, Santander UK:

    We are delighted to provide further support for Salem Tube’s growth. Our partnership and collaboration with both Salem Tube and UKEF demonstrates our commitment to the international growth of businesses in the UK.

    This also helps Salem to complete its rebound from COVID-19 and grow larger than ever. It secured a range of overseas contracts in the USA and Middle East last year and is now considering taking on more employees.

    This is the latest phase of Salem’s partnership with UKEF, which has supported the business for over 5 years and previously helped it win new contracts in Africa.

    Contact

    Media enquiries:

    Updates to this page

    Published 10 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Vacancy for IT Manager at MAIB, Southampton

    Source: United Kingdom – Executive Government & Departments

    We have an exciting opportunity to join the technical department at MAIB.

    Your responsibilities will include but not be limited to:

    • Service owner and system administrator of the branch’s local network, MADNet and its associated peripherals:

      • Network administrator
      • Network architect
      • Cybersecurity lead
      • First-line IT support
      • System administrator for Microsoft applications and licensing
      • Branch case management system
      • Building and issuing of staff laptops using Microsoft Intune
      • Set-up and problem-solving
      • Managing IT contractors
    • IT procurement lead
    • DfT IT Focal Point

    Applicants will have a robust technical background and strong leadership abilities, along with a deep understanding of network architecture and cybersecurity. Proven experience in managing and optimizing a range of IT systems and infrastructure is also desirable.

    This critical role requires candidates with a proven relevant technical background, combined with excellent communication, leadership, and people skills. You will have extensive experience of:

    • Windows-based PCs and server operating systems
    • Group Policy, Active Directory
    • Antivirus configuration and management
    • Firewall configuration and management
    • Managing network infrastructure, including UPS, switches and router configuration
    • VPN configuration and management
    • Cyber Security
    • Microsoft applications including Intune, O365 including Admin Centre, Teams, SharePoint, Power BI, Dynamics and Azure

    Applicants must have A level/BTEC National Level 3 equivalent or higher qualification, in an information technology subject, or certification from reputable IT companies such as Microsoft, Cisco, Dell, HP, Juniper, etc.

    For further information about the post and how to apply, go to Civil Service Jobs: IT Manager, Ref: 389736

    Closing date: Thursday 27th February 2025.

    Updates to this page

    Published 10 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Nations: Joint OECD-UNECE Seminar on SEEA Implementation

    Source: United Nations Economic Commission for Europe

    18-20 March 2025

    18 March (9:30) – 20 March (17:30) 2025

    Geneva Switzerland

    Concept Note

    pdf

    Provisional programme

    pdf

    WORLD CAFÉ: COMMUNICATION STRATEGIES, ADVANCED TECHNIQUES FOR SEEA AND NETWORKING WITH OTHER EXPERT COMMUNITIES

    SESSION 1: OPENING AND SETTING THE SCENE

    SESSION 2: THE SNA UPDATE AND THE SEEA CENTRAL FRAMEWORK UPDATE

    2a THE SNA UPDATE

    2b THE SEEA-CF UPDATE

    SESSION 3: BUILDING ROBUST SEEA ACCOUNTS FOR INFORMING CLIMATE CHANGE POLICIES AND DISASTER-RISK REDUCTION

    3a INTRODUCTION, INFORMATION NEEDS, EXISTING MEASUREMENT FRAMEWORKS AND THEIR LINKS WITH SEEA

    3b CHALLENGES IN IMPLEMENTING RELEVANT SEEA ACCOUNTS AND EXAMPLES OF USE

    3c EXPLORING THE POTENTIAL AND PRACTICALITIES OF INTEGRATING SEEA INTO THE GLOBAL DISASTER-RELATED STATISTICS FRAMEWORK

    SESSION 4: BUILDING ROBUST SEEA ACCOUNTS FOR INFORMING BIODIVERSITY POLICY

    4a INTRODUCTION AND POLICY CONTEXT

    4b PRACTICAL EXAMPLES OF PRODUCTION AND USE OF SEEA FOR INFORMING BIODIVERSITY POLICY

    4c PANEL DISCUSSION AND WRAP-UP

    SESSION 5: MAIN CONCLUSIONS AND RECOMMENDATIONS

    MIL OSI United Nations News –

  • MIL-OSI: With No Competing Offers, Beacon Roofing’s Board Stalls and Misleads

    Source: GlobeNewswire (MIL-OSI)

    Beacon Insiders Recently Sold Shares Well Below Offer Price, Undermining Beacon’s Case Against QXO
    QXO Calls on Beacon Roofing to Let Shareholders Decide on QXO’s $124.25 All-Cash Offer

    GREENWICH, Conn., Feb. 10, 2025 (GLOBE NEWSWIRE) —  QXO, Inc. (NYSE: QXO) today released a letter to Beacon Roofing Supply, Inc. shareholders regarding its $124.25 per share all-cash offer, addressing misrepresentations in Beacon’s recent 14D-9 filing.

    Dear Beacon Shareholders,

    We seek to set the record straight on some of the numerous misleading statements in Beacon’s recent communications.

    1.   QXO’s Offer to Acquire Beacon Roofing Supply is Highly Compelling and at a Significant Premium to Beacon’s Unaffected Share Price

    In evaluating QXO’s offer, Beacon conveniently ignores that its share price reflects our acquisition interest following the Wall Street Journal’s November 18, 2024 report. That day, Beacon’s stock rose 9.9%, compared to a 0.4% increase in the S&P 500. Yet, Beacon compares QXO’s offer to share price metrics as of January 14, 2025—a misleading approach that distorts expectations of Beacon’s standalone value.

    A more appropriate analysis shows that QXO’s offer represents:

    • A 37% premium to Beacon’s 90-day unaffected VWAP of $91.02 per share as of November 15, 2024;
    • A 26% premium to Beacon’s unaffected spot price of $98.75 per share as of November 15, 2024; and
    • A higher price than Beacon’s stock has ever traded.

    Indeed, Beacon acknowledges that November 15, 2024 is a significant date, referencing stock performance “from January 2, 2020 to November 15, 2024 (the last trading day before rumors surfaced).”

    Moreover, since November 15, 2024, Beacon’s Building Products Proxy Peers have lost 10.5% in value1, making QXO’s offer even more compelling:

    • A 41% premium to an implied spot share price of $88.42; and
    • A 52% premium to the peer-adjusted 90-day VWAP of $81.502.    

    2.   Data Indicates that Beacon Will Miss its Margin Targets. The Board’s Claim of Strong Performance is Flawed

    Beacon’s Board touts cherry-picked historical performance, painting a misleading picture of its track record. Consensus analysts’ estimates indicate that Beacon will miss all margin targets under its “Ambition 2025” plan. Further, Beacon’s revenue growth largely stems from extraordinary inflation and inorganic growth between 2022 and 2024. From 2019 through LTM September 2024, Beacon’s 7.7% revenue CAGR is the lowest of its peer group and well below the peer median of 12.1%3.

    Despite setting unambitious “Ambition 2025” targets, consensus analysts’ estimates indicate that Beacon will:

    • Miss its 2025 Gross Margin target by 130 basis points;
    • Miss its 2025 EBITDA Margin target by 114 basis points; and
    • Deliver EBITDA margins 20bps lower in 2025 than when the “Ambition 2025” plan was introduced4.

    Furthermore, Beacon’s claims of superior stock performance are easily debunked. Over the past five years, Beacon’s total shareholder return has trailed its Building Products Proxy Peers by 86% and trailed those peers by 140% since CEO Julian Francis took over as CEO in August 20195.

    3.   QXO’s Offer Represents a 3.0x Premium to Beacon’s Historical Multiple

    Beacon’s lackluster operational performance and relative share price underperformance are reflected in its enterprise value to next-twelve-months EBITDA multiple, which has remained rangebound at an average of 8.1x over the past three years. Meanwhile, its valuation gap relative to its Building Products Proxy Peers widened by 1.3x6 over the same period.

    Since Beacon has not closed the valuation multiple gap despite implementing “Ambition 2025,” reporting supposedly strong results and stock markets nearing all-time highs, we urge shareholders to decide if the current management and Board are the right team to create value for shareholders. QXO’s proposal provides a 3.0x premium to Beacon’s average historical next-twelve-months EBITDA multiple7, providing substantial immediate cash-certain value to shareholders.

    4.   If Beacon is Truly Confident in its Future, it Should Release its Projections Today

    Beacon’s upcoming financial projections for its March Investor Day warrant skepticism. Management itself acknowledged in its filings that its upcoming 2028 targets are “ambitious,” implying they may not be realistic. Beacon has already fallen short of some “Ambition 2025” goals. Adding to the skepticism, its decision to announce the Investor Day came only days after QXO disclosed its plan to go directly to shareholders.

    Further, these newly constructed projections will not be revealed for another month—more than three months after Beacon’s Board first rejected QXO‘s offer. Why the delay? What is Beacon formulating in the interim? If the company had strong, credible projections, there would be no reason for such a drawn-out disclosure process.

    5.   Actions Speak Louder than Words: Beacon Insiders Recently Sold Shares at Prices Far Below QXO’s Offer

    Since early 2024, Beacon’s Chairman and CEO have sold a significant percentage of their shares at prices well below QXO’s $124.25 per share offer:

    • Chairman Stuart Randle sold 20.9% of his shares at $94.808;
    • CEO Julian Francis sold 9.8% of his shares at $97.919;
    • CD&R, arguably the most sophisticated financial sponsor in the distribution space, exited its position in Beacon at $83.16 per share.

    If Beacon’s future is so bright under current management, why are insiders selling shares sharply below QXO’s offer price?

    Additionally, Beacon’s Board and management collectively own only 1.3% of outstanding10 shares, signaling a lack of alignment with shareholder interests and demonstrating their lack of confidence in Beacon’s standalone prospects.

    6.   Beacon’s Own Filings Suggest that No Actionable Competing Offer Exists

    Beacon’s recent filings indicate no viable third-party alternative to QXO’s premium offer. Beacon’s 14D-9 filing has not disclosed any competing offers, or even a single NDA being signed.

    Interestingly, on December 2, 2024, representatives of J.P. Morgan explicitly informed representatives of Morgan Stanley that they had been authorized to approach other potential suitors for Beacon. QXO’s letter to Beacon sent on the following day stated this clearly, yet Beacon made no effort to dispute this until two months later, on February 6, 2025.

    QXO’s offer is clear, compelling and in shareholders’ best interest. It is time for Beacon’s Board to stop obstructing shareholders and let them decide their own financial future.

    QXO’s tender offer for all of Beacon’s outstanding common stock will be effective until 12:00 midnight (New York City time) at the end of February 24, 2025, and QXO is prepared to complete the acquisition shortly after the tender expires, subject to the terms of the offer. The transaction is not subject to any financing conditions or due diligence conditions, and QXO expects that the waiting periods under the Hart-Scott-Rodino Act and the Canadian Competition Act will have expired or been waived by the time the tender offer expires.

    Advisors

    Morgan Stanley & Co. LLC is acting as lead financial advisor to QXO, and Paul, Weiss, Rifkind, Wharton & Garrison LLP is acting as legal counsel.

    About QXO

    QXO provides technology solutions, primarily to clients in the manufacturing, distribution and service sectors. The company provides consulting and professional services, including specialized programming, training and technical support, and develops proprietary software. As a value-added reseller of business application software, QXO offers solutions for accounting, financial reporting, enterprise resource planning, warehouse management systems, customer relationship management, business intelligence and other applications. QXO plans to become a tech-forward leader in the $800 billion building products distribution industry. The company is targeting tens of billions of dollars of annual revenue in the next decade through accretive acquisitions and organic growth. Visit QXO.com for more information.

    Forward-Looking Statements

    This communication contains forward-looking statements. Statements that are not historical facts, including statements about beliefs, expectations, targets, goals, regulatory approval timing and nominating directors are forward-looking statements. These statements are based on plans, estimates, expectations and/or goals at the time the statements are made, and readers should not place undue reliance on them. In some cases, readers can identify forward-looking statements by the use of forward-looking terms such as “may,” “will,” “should,” “expect,” “opportunity,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “target,” “goal,” or “continue,” or the negative of these terms or other comparable terms. Forward-looking statements involve inherent risks and uncertainties and readers are cautioned that a number of important factors could cause actual results to differ materially from those contained in any such forward-looking statements. Such factors include but are not limited to: the ultimate outcome of any possible transaction between QXO, Inc. (“QXO”) and Beacon Roofing Supply, Inc. (“Beacon”), including the possibility that the parties will not agree to pursue a business combination transaction or that the terms of any definitive agreement will be materially different from those proposed; uncertainties as to whether Beacon will cooperate with QXO regarding the proposed transaction; the ultimate result should QXO commence a proxy contest for election of directors to Beacon’s board of directors; QXO’s ability to consummate the proposed transaction with Beacon; the conditions to the completion of the proposed transaction, including the receipt of any required shareholder approvals and any required regulatory approvals; QXO’s ability to finance the proposed transaction; the substantial indebtedness QXO expects to incur in connection with the proposed transaction and the need to generate sufficient cash flows to service and repay such debt; that operating costs, customer loss and business disruption (including, without limitation, difficulties in maintaining relationships with employees, customers or suppliers) may be greater than expected following the proposed transaction or the public announcement of the proposed transaction; QXO’s ability to retain certain key employees; and general economic conditions that are less favorable than expected. QXO cautions that forward-looking statements should not be relied on as predictions of future events, and these statements are not guarantees of performance or results. Forward-looking statements herein speak only as of the date each statement is made. QXO does not assume any obligation to update any of these statements in light of new information or future events, except to the extent required by applicable law.

    Important Additional Information and Where to Find It

    This communication is for informational purposes only and does not constitute a recommendation, an offer to purchase or a solicitation of an offer to sell Beacon securities. QXO and Queen MergerCo, Inc. (the “Purchaser”) filed a Tender Offer Statement on Schedule TO with the Securities and Exchange Commission (the “SEC”) on January 27, 2025, and Beacon filed a Solicitation/Recommendation Statement on Schedule 14D-9 with respect to the tender offer with the SEC on February 6, 2025. Investors and security holders are urged to carefully read the Tender Offer Statement (including the Offer to Purchase, the related Letter of Transmittal and certain other tender offer documents, as each may be amended or supplemented from time to time) and the Solicitation/Recommendation Statement, as these materials contain important information that investors and security holders should consider before making any decision regarding tendering their common stock, including the terms and conditions of the tender offer. The Tender Offer Statement, Offer to Purchase, Solicitation/Recommendation Statement and related materials are filed with the SEC, and investors and security holders may obtain a free copy of these materials and other documents filed by QXO and Beacon with the SEC at the website maintained by the SEC at www.sec.gov. In addition, the Tender Offer Statement and other documents that QXO and the Purchaser file with the SEC will be made available to all investors and security holders of Beacon free of charge from the information agent for the tender offer: Innisfree M&A Incorporated, 501 Madison Avenue, 20th Floor, New York, NY 10022, toll-free telephone: +1 (888) 750-5834.

    QXO and the other participants intend to file a preliminary proxy statement and accompanying WHITE universal proxy card with the SEC to be used to solicit proxies for, among other matters, the election of its slate of director nominees at the 2025 annual meeting of stockholders of Beacon. QXO strongly advises all stockholders of Beacon to read the preliminary proxy statement, any amendments or supplements to such proxy statement, and other proxy materials filed by QXO with the SEC as they become available because they will contain important information. Such proxy materials will be available at no charge on the SEC’s website at www.sec.gov and at QXO’s website at investors.qxo.com. In addition, the participants in this proxy solicitation will provide copies of the proxy statement, and other relevant documents, without charge, when available, upon request. Requests for copies should be directed to the participants’ proxy solicitor.

    Certain Information Concerning the Participants

    The participants in the proxy solicitation are anticipated to be QXO, Brad Jacobs, Ihsan Essaid, Matt Fassler, Mark Manduca and the individuals nominated by QXO (the “QXO Nominees”). QXO expects to determine and announce the QXO Nominees prior to the nomination deadline for the 2025 annual meeting of stockholders of Beacon. As of the date of this communication, other than 100 shares of common stock of Beacon beneficially owned by QXO, none of the participants who have been identified has any direct or indirect interest, by security holdings or otherwise, in Beacon.

    Media Contacts
    Joe Checkler
    joe.checkler@qxo.com
    203-609-9650

    Steve Lipin / Lauren Odell
    Gladstone Place Partners
    212-230-5930

    Investor Contacts
    Mark Manduca
    mark.manduca@qxo.com
    203-321-3889

    Scott Winter / Jonathan Salzberger
    Innisfree M&A Incorporated
    212-750-5833

    1 Market data as of February 7, 2025. Average of building products subset of the peer list presented in Beacon’s April 2024 Proxy Statement; includes: Builders FirstSource, Boise Cascade, GMS, Pool Corp, SiteOne, WATSCO, Wesco (“Building Products Proxy Peers”)
    2 Based on Beacon’s unaffected share price as of November 15, 2024 and the average share price performance since November 15, 2024 for the Building Products Proxy Peers
    3 Reported revenues for Beacon and Building Products Proxy Peers
    4 Based on median 2025E Wall Street research estimates, sourced from Capital IQ as of February 7, 2025
    5 Market data as of November 15, 2024. Total shareholder return reflects stock price performance adjusted for cash dividends paid, stock splits, rights offerings and spin-offs during the period
    6 As per Capital IQ as of November 15, 2024
    7 As of November 15, 2024; next-twelve-months EBITDA calculated using calendarized annual broker EBITDA estimates for Beacon
    8 As per Mr. Randle’s Form 4 filed with the SEC on May 28, 2024. According to Mr. Randle’s Form 4, this sale was not made pursuant to a Rule 10b5-1 plan or to pay any exercise price or tax liability incident to the receipt, exercise or vesting of equity awards.
    9 As per Mr. Francis’s Form 4 filed with the SEC on May 22, 2024. According to Mr. Francis’s Form 4, this sale was not made pursuant to a Rule 10b5-1 plan or to pay any exercise price or tax liability incident to the receipt, exercise or vesting of equity awards.
    10 As per Schedule 14D-9 filed with the SEC on February 6, 2025

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5854092c-16b2-41c5-918c-3c0e68bd5705

    The MIL Network –

  • MIL-OSI: Up to 70% Time Savings Achieved with Fully Integrated Advanced Referral Module of CareCloud’s AI-Enabled EHR

    Source: GlobeNewswire (MIL-OSI)

    Streamlining the Referral Process to Enhance Efficiency and Patient Experience

    SOMERSET, N.J., Feb. 10, 2025 (GLOBE NEWSWIRE) — CareCloud, Inc. (Nasdaq: CCLD, CCLDO, CCLDP), a leader in healthcare technology and AI-driven solutions, is proud to announce the launch of its new advanced referral module. This innovative solution is designed to simplify the referral process for medical providers and enhance the patient experience through advanced automation and location-based guidance. By optimizing referrals to specialists, the module reduces administrative time and effort, enabling a more streamlined, patient-focused approach. With its automated workflow, healthcare providers can save up to 70% of the time typically spent on generating and managing referrals, allowing them to prioritize patient care.

    92% of surveyed users rated the CareCloud’s advanced referral module as “exceptional”, praising its ease of use, efficiency, and ability to enhance patient satisfaction with one user explaining, “CareCloud’s advanced referral module has transformed how we handle patient referrals in our practice.” Asad Ullah of Mir Neurology & Spine Center continued, “Completing the referral process in real-time during patient visits ensures a seamless experience and faster access to specialty care. With the intuitive interface and location-based specialist recommendations, I can provide personalized options for my patients instantly. What’s even more valuable is that patients no longer have to call back or visit our office to complete or collect their referral forms. This not only improves efficiency but also enhances patient satisfaction by making the referral process more convenient and hassle-free.”

    The key features of CareCloud’s advanced referral module:

    1. Real-Time Referral Completion
      • Medical providers can complete referral forms while the patient is still in the office, ensuring accuracy and efficiency during the visit.
    2. Specialist Recommendations with Location Guidance
      • Integrated maps and location-based tools help doctors recommend specialists near the patient’s home or workplace, ensuring convenience and accessibility.
    3. Secure Patient Notifications
      • Patients receive text messages with a curated list of specialists, including secure links to detailed information such as the specialist’s name, contact details, and more.
    4. Seamless Appointment Booking
      • Patients can contact their chosen specialist and book appointments directly through secure links. Once confirmed, the system automatically forwards the referral form to the specialist.
    5. Patient Access to Referral Documentation
      • Patients can securely download, print, or access their referral forms through their Personal Health Record (PHR), ensuring ease of use and transparency.

    “With 92% of surveyed users rating it as exceptional and the ability to save up to 70% of referral processing time, the Advanced Referral Module is transforming care coordination,” said Hadi Chaudhry, Co-CEO of CareCloud. “By automating workflows and providing real-time specialist recommendations, it enhances efficiency for providers and accessibility for patients, improving the overall healthcare experience. This launch reinforces CareCloud’s commitment to reducing administrative burdens and driving innovation in healthcare technology.”

    About CareCloud

    CareCloud brings disciplined innovation to the business of healthcare. Our suite of AI and technology-enabled solutions helps clients increase financial and operational performance, streamline clinical workflows and improve the patient experience. More than 40,000 providers count on CareCloud to help them improve patient care, while reducing administrative burdens and operating costs. Learn more about our products and services, including revenue cycle management (RCM), practice management (PM), electronic health records (EHR), business intelligence, patient experience management (PXM) and digital health at www.carecloud.com.

    Follow CareCloud on LinkedIn, X and Facebook.

    Forward-Looking Statements

    This press release contains various forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements relate to anticipated future events, future results of operations or future financial performance. In some cases, you can identify forward-looking statements by terminology such as “may,” “might,” “will,” “shall,” “should,” “could,” “intends,” “expects,” “plans,” “goals,” “projects,” “anticipates,” “believes,” “seeks,” “estimates,” “forecasts,” “predicts,” “possible,” “potential,” “target,” or “continue” or the negative of these terms or other comparable terminology.

    Our operations involve risks and uncertainties, many of which are outside our control, and any one of which, or a combination of which, could materially affect our results of operations and whether the forward-looking statements ultimately prove to be correct. Forward-looking statements in this press release include, without limitation, statements reflecting management’s expectations for future financial performance and operating expenditures, expected growth, profitability and business outlook, the impact of pandemics on our financial performance and business activities, and the expected results from the integration of our acquisitions.

    These forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are only predictions, are uncertain and involve substantial known and unknown risks, uncertainties and other factors which may cause our (or our industry’s) actual results, levels of activity or performance to be materially different from any future results, levels of activity or performance expressed or implied by these forward-looking statements. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all of the risks and uncertainties that could have an impact on the forward-looking statements, including without limitation, risks and uncertainties relating to the Company’s ability to manage growth, migrate newly acquired customers and retain new and existing customers, maintain cost-effective global operations, increase operational efficiency and reduce operating costs, predict and properly adjust to changes in reimbursement and other industry regulations and trends, retain the services of key personnel, develop new technologies, upgrade and adapt legacy and acquired technologies to work with evolving industry standards, compete with other companies’ products and services competitive with ours, and other important risks and uncertainties referenced and discussed under the heading titled “Risk Factors” in the Company’s filings with the Securities and Exchange Commission.

    The statements in this press release are made as of the date of this press release, even if subsequently made available by the Company on its website or otherwise. The Company does not assume any obligations to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

    SOURCE CareCloud

    Company Contact:

    Norman Roth
    Interim Chief Financial Officer and Corporate Controller
    CareCloud, Inc.
    nroth@carecloud.com

    Investor Contact:

    Stephen Snyder
    Co-Chief Executive Officer
    CareCloud, Inc.
    ir@carecloud.com 

    The MIL Network –

  • MIL-OSI: Beamr CEO will Present a Keynote Speech at the ACM Mile-High-Video 2025

    Source: GlobeNewswire (MIL-OSI)

    The Keynote Titled ״Is the future of video processing destined for GPU?״ Describes First Hand The Evolution of Video Encoding in the Past Decades

    Herzliya Israel, Feb. 10, 2025 (GLOBE NEWSWIRE) — Beamr Imaging Ltd. (NASDAQ: BMR), a leader in video optimization technology and solutions, today announced that Beamr CEO, Sharon Carmel, will present a keynote speech titled ״Is the future of video processing destined for GPU?״ at the ACM Mile-High-Video 2025 conference, being held in Denver, Colorado from February 18-20, 2025. The keynote speech will be held on February 18, 2025 at 11:15 AM MST (1:15 PM EST).

    To meet with the Beamr video experts team at the ACM Mile-High-Video 2025 conference, please use this link.

    “Video compression processes have evolved in the last decades, to meet the growing demands for higher image quality, increased resolutions, and diverse viewing devices – from 8K screens to smartphones, while overcoming networking challenges”, said Carmel. He added: “Today, GPU-accelerated solutions, like those delivered by Beamr, emerge as the leading approach, enabling fast, highly efficient video processing, while enhancing the video with AI capabilities during the same workflow”.

    Carmel has 30 years of experience in the video and media industry, starting as the co-founder of Emblaze, which developed the first video chips for Samsung Mobile. The company went public in 1996 on the London Stock Exchange, and in 2000 reached a peak market cap of ~$7B. In 2002, Carmel founded his second start-up, BeInSync, which developed P2P synchronization and online backup technologies, and was acquired in 2008 by Phoenix Technologies.

    The ACM Mile-High-Video conference is a flagship video formats and streaming event that is geared towards practicing engineers in areas related to media compression and streaming. This event, held annually in Denver, is organized by engineers and researchers from both industry and academia.

    To meet with the Beamr video experts team at the ACM Mile-High-Video 2025 conference, please use this link.

    About Beamr

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

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

    Forward-Looking Statements

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

    Investor Contact:

    investorrelations@beamr.com

    The MIL Network –

  • MIL-OSI: Matador Technologies Partners with BitGo to Securely Store Bitcoin Holdings

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Feb. 10, 2025 (GLOBE NEWSWIRE) — Matador Technologies Inc. (“Matador” or the “Company”) (TSXV: MATA) announces that it has selected BitGo Trust Company (“BitGo”) to securely manage and store its Bitcoin holdings.

    Matador has integrated Bitcoin as a foundational asset for its treasury and as the platform for its upcoming digital gold product. BitGo, known for its secure and compliant custody solutions, will provide institutional-grade custody services using its security infrastructure.

    “We are pleased to partner with BitGo as our trusted custodian for Bitcoin,” said Deven Soni, CEO and Chairman at Matador. “As we expand our engagement with digital assets, having a secure custodian like BitGo supports our security and compliance priorities.”

    BitGo offers a full suite of custody solutions, including multi-signature wallets and 100% cold storage technology, providing protection against theft, loss, or unauthorized access. Additionally, its insurance policy provides an added layer of security, aligning with Matador’s standards for asset management.

    “At BitGo, we are focused on providing secure custody for institutional clients,” said Mike Belshe, CEO of BitGo. “We look forward to supporting Matador’s Bitcoin custody needs with our security infrastructure.”

    For additional information, please contact:

    Media Contact:
    Sunny Ray
    President
    Email: sunny@matador.network

    Phone: 647-932-2668

    About Matador Technologies Inc.
    Matador Technologies Inc. is a digital gold platform leveraging blockchain technology to digitize real-world assets like gold. Focused on building innovative financial solutions, Matador is at the forefront of integrating blockchain technology to preserve and grow value. Matador’s digital gold platform aims to democratize the gold buying experience, combining the best of modern technology and time-proven assets, to create an app that will allow users to buy, sell, and store gold 24/7 in a fun and engaging way.

    Cautionary Statement Regarding Forward-Looking Information

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

    This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.

    Forward Looking Statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, including risks associated with the implementation of the Company’s treasury management strategy and the launch of its mobile application as currently proposed or at all. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including with respect to the potential acquisition of Bitcoin and/or US dollars, the pricing of such acquisitions and the timing of future operations. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

    The MIL Network –

  • MIL-OSI: Pando Launches Pi – AI Teams for Logistics, Enabling Autonomous Freight Procurement, Planning, and Payments for Global Brands

    Source: GlobeNewswire (MIL-OSI)

    LAS VEGAS, Feb. 10, 2025 (GLOBE NEWSWIRE) — Pando, the leading Logistics AI company, today announced the launch of its AI Teams for Logistics, a groundbreaking suite of AI Agents designed to automate freight procurement, dispatch planning, and freight audit and payment processes for global brands. Purpose-built to transform logistics operations, its new ‘Logistics Services as Software’ model enables manufacturers, distributors, and retailers to replace manual, error-prone tasks with intelligent automation to unlock unprecedented efficiency and cost savings by replacing the need for hiring additional staff or more software with AI agents. Pi redefines both logistics and talent strategies, accelerating the shift toward a world where Human Intelligence and Artificial Intelligence work together to drive complex business processes. Pando’s AI Agents act as a team of smart analysts, empowering logistics managers to delegate important yet repetitive decisions to these agents, who execute them with unmatched accuracy.

    Pando’s CEO Nitin Jayakrishnan and global technology executive, public and private company board director Suja Chandra will showcase Pando’s AI Teams through a live demonstration at Manifest 2025 in Las Vegas from February 10-12 at booth #1408, giving industry leaders an exclusive look at how AI is reshaping global transportation management.

    Automating Routine Decisions with AI Teams

    For decades, logistics teams have been weighed down by time-consuming processes —coordinating with carriers, negotiating rates, verifying invoices, tracking shipment delays, and ensuring contract compliance and service delivery. These tasks, while critical, are cumbersome, and distract teams from focusing on strategic initiatives that drive top and bottom line for the brands they serve. Teams can now break this cycle by hiring AI Teams that can automate routine tasks such as invoice audits, payments processing, carrier collaboration, and freight spend analysis and reporting.

    Pando’s AI Teams are already deployed at some of the world’s largest brands. Seamlessly integrated with business systems, third-party tools, and market data Pando creates an enterprise-specific supply chain knowledge graph. This dynamic, real-time representation of the logistics network continuously trains enterprise-specific Logistics Language Models® (LLMs) that not only understand multi-modal global logistics but precisely understand the context of individual businesses and their networks. This allows Pando’s AI Teams to execute repetitive tasks and decisions in freight and transportation management with high precision.

    “At Accuride, on-time delivery to our global commercial vehicle customers is paramount. This in turn demands seamless collaboration with our global suppliers in Asia,” said Skotti Fietsam, SVP Global Supply Chain. “Pando’s AI agents have transformed our supplier collaboration in this context of inbound logistics. What once took days of painstaking manual review of booking reports and packing lists from suppliers now happens in minutes. Pi, Pando’s AI agent, automatically extracts critical data from supplier emails, generating shipment records ready for review. This frees our team from tedious tasks, allowing us to focus on strategic priorities and ensure we meet our customers’ demands. Pando is a true game-changer with its cutting-edge AI capabilities, dramatically boosting our team productivity and ensure we maintain our competitive edge.”

    From Automation to Intelligence: AI Teams That Execute Complex Logistics Decisions

    With more data and continuous learning, AI Teams take on increasingly complex and high-value logistics decisions. For example, Pando’s AI Teams now procure freight across multiple modes and geographies, ensuring optimal pricing and carrier selection for both spot and long-term contracts autonomously. It determines the best modal mix, optimizes carrier allocations, bundles lanes, negotiates rates, and finalizes contracts, all while ensuring alignment with broader service level expectations. AI Teams can also audit, validate invoices, execute claims processes, and pay freight invoices across all modes, services, and currencies, identifying discrepancies and even resolving disputes by collaborating directly with carriers to resolve invoice disputes.

    The Future of Logistics: AI Teams Partnering with Human Teams

    Pando represents a fundamental shift in how logistics teams operate. Moving beyond simple automation, it creates a model where human intelligence and artificial intelligence collaborate seamlessly. Instead of spending their time on routine decisions, logistics professionals can now focus on strategy, innovation, and higher-value problem-solving, supported by AI Agents that execute with precision and reliability.

    “Logistics teams are burdened with too many ‘keep-the-lights-on’ tasks—chasing carriers, negotiating spot rates, validating invoices—leaving little room for strategic initiatives. With Pando, we are bringing the power of AI to logistics decision-making, freeing teams to focus on what truly matters. This isn’t about automation for automation’s sake; it’s about super-powering logistics to be true revenue partners to the business,” said Nitin Jayakrishnan, CEO of Pando.

    Experience Pi at Manifest 2025

    As AI continues to reshape global supply chains, AI is set to become an indispensable tool for logistics teams worldwide, accelerating the industry’s shift toward autonomous operations.

    Pando will be showcasing Pi at Manifest 2025 in Las Vegas (Booth #1408, February 10-12), where attendees can experience firsthand how AI Teams can drive efficiency, accuracy, and autonomy in logistics management.

    About Pando

    Pando is a global leader in AI-powered logistics technology, helping manufacturers, distributors, and retailers automate the procure-to-pay lifecycle of freight to build agility, control freight spend, and reduce carbon footprint. Trusted by Fortune 500 enterprises with global customers across North America, Europe and Asia Pacific regions, Pando is pioneering the future of autonomous logistics with cutting-edge AI.

    Pando is recognized by Gartner for its transportation management capabilities, by World Economic Forum (WEF) as a Technology Pioneer, by G2 as a Market Leader in Freight Management, and named one of the fastest-growing technology companies by Deloitte. For more information, visit www.pando.ai.

    Media Contact
    Courtney Meints
    Skyya PR for Pando
    +1 651-329-9098
    pando@skyya.com

    The MIL Network –

  • MIL-OSI: Churchill Resources Confirms Ni-Co Potential of Large Tonnage Seahorse Lake Intrusive at Florence Lake

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Feb. 10, 2025 (GLOBE NEWSWIRE) — Churchill Resources Inc. (“Churchill” or the “Company”) (TSXV: CRI) is pleased to provide an update on its 2024 fieldwork results at the Florence Lake nickel project located in Labrador. Highlights include:

    Seahorse Lake Intrusive

    • CRI 2024 sampling confirms Ni-Co potential and ~7.5km strike length to the variably exposed Seahorse Intrusion with consistent historical surface grab samples grading 0.2-0.4% nickel and Company 2024 results confirm historical and new exposures with grades or 0.2-0.32% Ni and 100-756ppm Cobalt. The high cobalt value is much improved over the best historical result of 361ppm Co.
    • 13 of 27 CRI samples at Seahorse returned high-interest aluminum undepleted komatiite geochemical signatures, suggesting more primitive, potentially Ni-enriched units may also be present in the volcanic assemblage. This is a very encouraging early sign for Seahorse.
    • The lone short historical drillhole, TSH96-04, into the eastern margin of the intrusive, also returned nickel values in the 0.2-0.3% range with 0.01%Co from selected short samples between 30-100m downhole. The entire core is available for sampling to the end of hole at 102m.

    Baikie Belt

    • The northern licenses’ Baikie Sub-belt high-grade targets have been sampled with prioritization based on prospective komatiite geochemistry/VTEM conductors/high nickel-in-soil sampling highlighting numerous areas for detailed follow-up.

    Paul Sobie, CEO, commented:

    “Our 2024 fieldwork has confirmed that the Seahorse Lake Ultramafic Intrusive spans some 7.5km x 1km as suggested by its magnetic signature, and found it to outcrop over several impressively large areas. Historical grab sampling by Falconbridge returned pervasive surface nickel assays in the 0.2 to 0.4%Ni range, consistent with similar ultramafic intrusions being evaluated in Ontario, Quebec, BC, and Alaska.  

    Our 2024 sampling confirmed Seahorse’s Ni-Co potential per Table 1 and Figure 1, including a grab sample grading 756ppm Co (0.076%). We plan to cut long channel samples through these large outcrop exposures during fieldwork in 2025 to define nickel content over significant strike lengths and widths, as an important part of our first full “boots on the ground” season based out of the Florence Lake camp.

    On our northern licenses covering the high-grade target Baikie Sub-belt ~5km northwest of Seahorse, we’ve now sampled most of the 43 priority targets identified from VTEM survey and follow-up soil sampling, allowing for prioritization for detailed prospecting, geology and geophysical surveys this summer.

    Florence Lake lies ~70km west of the deep-water port of Postville, an all-weather road proposed along the Labrador coast would pass within 15km, and nearby waterfalls offer hydro-electric power potential, all greatly enhancing project economics.”

    Figure 1 – Seahorse Lake Total Magnetic Intensity with 2024 and Falconbridge Surface Sampling

    Figure 2 – Outcropping serpentinized peridotite southern Seahorse Lake Intrusion (note helicopter in distance for scale)

    Figure 3 – Outcropping serpentinized peridotite central Seahorse Lake Intrusion

    Table 1 – 2024 Lithogeochemical Sample Selected Analytical Results

    Baikie Belt High-Grade Targets

    The Baikie-Sub-belt volcanic package is highly encouraging for nickel discoveries throughout the volcanic stratigraphy, rather than just the Baikie Showing horizon, the primary target of Falconbridge, where a small deposit was delineated. CRI is continuing to sample the ultramafic lavas in the area of priority targets, following the recognition of numerous Al2O3-undepleted ultramafic volcanic areas (i.e., more primitive lavas, associated with nickel mineralization), as stacked targets located throughout the upper Eastern Volcanic areas of the greenstone belt, and importantly also within the more basal Western Volcanics. Kambalda-style nickel sulphide deposits occur primarily in the basal portions of ultramafic volcanic sequences.

    Figure 4 following shows the location of 2024 lithogeochemical samples detailed in Table 1, as well as the location of all other CRI surface samples collected since 2021. As well Dr. Derek Wilton has sampled numerous historical drill holes, and NL Government Geological Survey geologists have sampled the rest of the historical drillholes, which data will be available in the near-term to further our compilations of geochemical data and follow-up plans. CRI is in close contact with the Geological Survey team, who are actively assessing the Baikie and Seahorse Lake areas through mapping, lithogeochemistry and age-dating of surface and core samples and who completed their first field season in the Florence Lake area in 2024. The Geological Survey is planning to be active again this summer on our property and the collaboration will be extremely helpful to Churchill.

    2024 soil sampling was modest in sample numbers and targeted to assess VTEM conductors lower in the stratigraphy in the Western Volcanics per Figure 5. Moderate nickel anomalies were generated in several areas for follow-up this summer.

    The technical and scientific information in this news release has been reviewed and approved by Dr. Derek H.C Wilton, P.Geo., FGC, who is a “qualified person” as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). Mr. Wilton is an honourary research professor of Economic Geology at Memorial University and is independent of the Company for the purposes of NI 43-101.

    The lithogeochemical samples reported here were whole rock pieces, collected from outcrop and historical drill core by Dr. Wilton during fieldwork in September/October 2024. These samples were sealed in labelled plastic bags in the field. All sample bags were photographed and transported to Thunder Bay, ON, by secure courier. The samples were analysed by ALS Geochemistry Ltd. in Thunder Bay using ME-ICP06 whole rock and ME-MS61L analytical protocols. Samples with over limit Ni contents were re-assayed using OG-46 Aqua-Regia overlimit method. Quality control results, including the laboratory’s own control samples, were evaluated immediately.1

    The soil samples were placed in labelled, sealed kraft paper bags and delivered to Eastern Analytical of Springdale, NL, an ISO/IEC 17025 certified facility. The samples were analysed using ICP 34 (inductively coupled plasma) analytical protocols. Samples with over limit Ni contents were re-assayed using Eastern’s Ore Grade Assay (multi acid digestion) overlimit method. Quality control results, including the laboratory’s control samples, were evaluated immediately.

    Figure 4 – CRI Lithogeochemical Samples 2021-2024 in Baikie Sub-belt

    Figure 5 – CRI Soil Samples 2022-2024 in Baikie Sub-belt on detailed CRI magnetics

    About Churchill Resources Inc.

    Churchill Resources Inc. is a Canadian exploration company focused on high grade, magmatic nickel sulphides in Canada, principally at its prospective Taylor Brook and Florence Lake properties in Newfoundland & Labrador. The Churchill management team, board and its advisors have decades of combined management experience in mineral exploration and in the establishment of successful publicly listed mining companies, both in Canada and around the world. Churchill’s Taylor Brook and Florence Lake projects have the potential to benefit from the province’s large and diversified minerals industry, which includes world class nickel mines and processing facilities, and a well-developed mineral exploration sector with locally based drilling and geological expertise.

    Further Information

    For further information regarding Churchill, please contact:

    Churchill Resources Inc.
    Paul Sobie, Chief Executive Officer
    Tel.   +1 416.365.0930 (o)
        +1 647.988.0930 (m)
    Email   psobie@churchillresources.com
         
    Alec Rowlands, Corporate Consultant
    Tel.   +1 416.721.4732 (m)
    Email   arowlands@churchillresources.com
         

    Cautionary Note Regarding Forward Looking Information

    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 news 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”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “proposed”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” 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, the Company’s objectives, goals and exploration activities conducted and proposed to be conducted at the Company’s properties; future growth potential of the Company, including whether any proposed exploration programs at any of the Company’s properties will be successful; exploration results; and future exploration plans and costs and financing availability.

    These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: the expected benefits to the Company relating to the exploration conducted and proposed to be conducted at the Company’s properties; failure to identify any mineral resources or significant mineralization; the preliminary nature of metallurgical test results; uncertainties relating to the availability and costs of financing needed in the future, including to fund any exploration programs on the Company’s properties; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, silver, base metals or certain other commodities; fluctuations in currency markets (such as the Canadian dollar to United States dollar exchange rate); change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining and mineral exploration; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); the unlikelihood that properties that are explored are ultimately developed into producing mines; geological factors; actual results of current and future exploration; changes in project parameters as plans continue to be evaluated; soil sampling results being preliminary in nature and are not conclusive evidence of the likelihood of a mineral deposit; title to properties; and those factors described in the most recently filed management’s discussion and analysis of the Company. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements and information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. The Company does not undertake to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.

    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 news release.

    1 The Company reminds investors that surface rock samples are select samples and may not be representative of all mineralization on the Florence Lake property.

    Photos accompanying this announcement are available at: 

    https://www.globenewswire.com/NewsRoom/AttachmentNg/a4a7348e-6b56-4bb1-8fed-cb6009e554be

    https://www.globenewswire.com/NewsRoom/AttachmentNg/63543e74-a8d5-455e-a5b4-539e2bc771fd

    https://www.globenewswire.com/NewsRoom/AttachmentNg/1640a47f-264a-4f11-962f-d3cb179b030c

    https://www.globenewswire.com/NewsRoom/AttachmentNg/584d7791-09ee-45bc-ab69-c6a7e7332132

    https://www.globenewswire.com/NewsRoom/AttachmentNg/d275b392-66dd-4a1a-937a-2488d04f4555

    https://www.globenewswire.com/NewsRoom/AttachmentNg/4ad8cf7b-9b04-44ed-871c-34ec8a2d094b

    The MIL Network –

  • MIL-OSI: Helium Evolution Provides Encouraging Preliminary Update on 10-36 Well

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, Feb. 10, 2025 (GLOBE NEWSWIRE) — Helium Evolution Incorporated (TSXV:HEVI) (“HEVI” or the “Company“), a Canadian-based helium exploration company focused on developing assets in southern Saskatchewan, is pleased to announce preliminary test results from its 10-36-3-9W3 helium discovery well (the “10-36 Well”) along the Mankota helium fairway. HEVI holds a 20% working interest in the 10-36 Well, in partnership with the operator, North American Helium Inc. (“NAH”).

    10-36 Well Preliminary Test Results

    Completion, perforation and initial production testing of the 10-36 Well are ongoing. After an extended 5-day flow testing period, the 10-36 Well was producing approximately 11.5 million standard cubic feet per day (“MMscf/d”) at 13,100 kiloPascal (“kPa”) flowing tubing pressure. The preliminary test results also confirmed a helium content of 0.81%, significantly higher than the commercially viable threshold of 0.3%. Furthermore, the 10-36 Well produced negligible water, signaling strong potential for efficient helium recovery and processing.

    Following the extended production flow period, the 10-36 Well will be shut in for 14 days to gather reservoir pressure data. This data will be analyzed to further evaluate the resource potential and optimize future development.

    Flow Test Results from Select HEVI Wells:

    Well Bottom
    Hole
    Pressure
    (kPa)    		 Bottom Hole
    Temperature
    (°C)    		 Helium
    Content    		 Rate
    (MMscf/d)    		 Tubing
    Pressure
    (kPa)    		 Water
    10-36 Well (Preliminary)1 23,600 78 0.81% 11.5 13,100 Negligible
    10-1 Well2 24,069 78 0.75% 9.5 10,800 Negligible
    9-35 Well3 23,928 81 0.64% 7.0 9,000 Negligible
    2-31 Well4 24,189 81 0.95% 4.0 5,500 Negligible

    1The 10-36 Well preliminary results are subject to further analysis.
    2Well located at 10-1–4-9W3 (the “10-1 Well”)
    3Well located at 9-35-3-9W3 (the “9-35 Well”)
    4Well located at 2-31-2-8W3 (the “2-31 Well”)

    Looking Ahead

    HEVI continues to work closely with NAH to plan the next phase of development. With three helium discovery wells in close proximity to one another, NAH is evaluating the feasibility of installing processing facilities in the area, pending the results of well at 5-30-3-8W3 (the “5-30 Well”). HEVI fully supports this initiative, as the establishment of processing facilities is a crucial step in HEVI’s strategy to transition toward commercial helium production.

    Stay Connected to Helium Evolution

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

    About Helium Evolution Incorporated

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

    For further information, please contact:

    Statement Regarding Forward-Looking Information

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

    Forward-looking statements in this document include statements regarding the Company’s expectations regarding future production from the 2-31 Well, the 9-35 Well the 10-36 Well and the 10-1 Well, results of the 5-30 Well, the decision on processing facilities being made after the 5-30 Well, the Company’s expectations regarding scalable helium production from its land generally, the Company and/or NAH’s plans with respect to shutting in the 10-36 Well for a 14-day period and the interpretation of results, the Company and/or NAH’s plans with respect to constructing a facility, the Company’s intention to provide further updates regarding significant updates and developments, the Company becoming a leading supplier of sustainably-produced helium, timeline of future updates, the Company’s beliefs regarding growth of the global helium market and other statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: NAH may be unsuccessful in drilling commercially productive wells; the Company and/or NAH may abandon or defer plans for continuing the completion, testing and evaluation of the 10-36 Well; the Company and/or NAH may choose to defer, accelerate or abandon its exploration, development and production facility plans; the Company and/or NAH may determine not to bring the 9-35 Well, the 10-1 Well, the 10-36 Well or the 2-31 Well onto production; the Company and/or NAH may defer the decision on installing a production facility; new laws or regulations and/or unforeseen events could adversely affect the Company’s business and results of operations; stock markets have experienced volatility that often has been unrelated to the performance of companies and such volatility may adversely affect the price of the Company’s securities regardless of its operating performance; risks generally associated with the exploration for and production of resources; the uncertainty of estimates and projections relating to expenses and the Company’s working capital position; constraint in the availability of services; commodity price and exchange rate fluctuations; adverse weather or break-up conditions; and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures.

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

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

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4f5d50f3-d10d-42aa-8c54-ae68c1780a99

    The MIL Network –

  • MIL-OSI: Tower Semiconductor Reports 2024 Fourth Quarter and Full Year Financial Results

    Source: GlobeNewswire (MIL-OSI)

    MIGDAL HAEMEK, Israel, Feb. 10, 2025 (GLOBE NEWSWIRE) — Tower Semiconductor (NASDAQ: TSEM & TASE: TSEM) reports today its results for the fourth quarter of 2024 and for the year ended December 31, 2024.

    Fourth Quarter of 2024 Results Overview
    Revenues for the fourth quarter of 2024 were $387 million as compared to $371 million for the third quarter of 2024 and $352 million for the fourth quarter of 2023, representing 5% quarter over quarter growth and 10% year over year growth. The Company met its expressed target of sequential quarter over quarter revenue growth within 2024, resulting in 18% growth fourth quarter over first quarter.

    Gross profit for the fourth quarter of 2024 was $87 million, compared to $84 million for the fourth quarter of 2023. During the fourth quarter of 2024, the Company took on for the first time its portion of incremental costs of the greenfield Agrate facility.

    Operating profit for the fourth quarter of 2024 was $46 million as compared to $45 million for the fourth quarter of 2023.

    Net profit for the fourth quarter of 2024 was $55 million, reflecting $0.49 basic and diluted earnings per share. Net profit for the fourth quarter of 2023 was $54 million, or $0.49 basic and $0.48 diluted earnings per share.

    Cash flow generated from operating activities in the fourth quarter of 2024 was $101 million and investments in property and equipment, net were $93 million.

    Full year 2024 Results Overview
    Revenues for the full year of 2024 were $1.44 billion, gross profit was $339 million, operating profit was $191 million. Net profit for the full year of 2024 was $208 million, or $1.87 basic and $1.85 diluted earnings per share. For the full year of 2023, revenues were $1.42 billion, gross profit was $354 million, operating profit was $547 million and included $314 million, net, from the Intel merger contract termination and $33 million of restructuring income, net, from the previously disclosed reorganization and restructure of our Japan operations during 2022. Net profit for the full year of 2023 was $518 million, or $4.70 basic and $4.66 diluted earnings per share and included $290 million, net, due to the merger contract termination payment by Intel and $11 million restructuring income, net.

    Cash flow generated from operating activities for the year ended December 31, 2024, was $449 million. Investments in property and equipment, net for the year ended December 31, 2024, were $432 million and debt payments, net totaled $32 million.

    6” Fab Consolidation Update
    During the fourth quarter of 2024, the lower margin legacy of 150mm flows were discontinued in Fab1, with last Fab outs occurring in January 2025. The forward-looking strategic flows have been transferred into the Fab2 200mm factory. This strategic integration enables the Company to streamline its production processes, enhancing overall efficiency.

    Business Outlook
    Tower Semiconductor guides revenues for the first quarter of 2025 to be $358 million, with an upward or downward range of 5%. First quarter mid-range guidance reflects about 10% year-over-year growth.

    Russell Ellwanger, Chief Executive Officer of Tower Semiconductor, stated:
    “With the close of 2024, we are pleased with our progress, in having brought to market highly differentiated end application advancing platforms, hence strengthening our position for sustainable growth. Our 2025 revenue target is year-over-year growth, with sequential quarter-over-quarter revenue growth, and an acceleration in the second half of the year. This momentum is fueled by increasing production shipments as our previously announced capacity investments progress through the final stages of customer qualifications.”

    Ellwanger further added: “Our commitment to customer partnered innovation and streamlined execution continues to drive our ability to meet the growing and evolving needs of our customers in a quickly changing business environment, whilst expanding our available market size and share. We look forward to the year ahead with confidence and enthusiasm.”

    Teleconference and Webcast
    Tower Semiconductor will host an investor conference call today, Monday, February 10, 2025, at 10:00 a.m. Eastern time (9:00 a.m. Central time, 8:00 a.m. Mountain time, 7:00 a.m. Pacific time and 5:00 p.m. Israel time) to discuss the Company’s financial results for the fourth quarter and full year of 2024 and its business outlook.

    The call will be webcast and available through the Investor Relations section of Tower Semiconductor’s website at ir.towersemi.com. The pre-registration form required for dial-in participation is accessible here. Upon completing the registration, participants will receive the dial-in details, a unique PIN, and a confirmation email with all necessary information. To access the webcast, click here. The teleconference will be available for replay for 90 days.

    Non-GAAP Financial Measures
    The Company presents its financial statements in accordance with U.S. generally accepted accounting principles (“GAAP”). The financial information included in the tables below includes unaudited condensed financial data. Some of the financial information, which may be used and/or presented in this release and/or prior earnings related filings and/or in related public disclosures or filings with respect to the financial statements and/or results of the Company, which we may describe as adjusted financial measures and/or reconciled financial measures, are non-GAAP financial measures as defined in Regulation G and related reporting requirements promulgated by the Securities and Exchange Commission (the “SEC”) as they apply to our Company. These adjusted financial measures are calculated excluding the following: (i) amortization of acquired intangible assets as included in our costs and expenses, (ii) compensation expenses in respect of equity grants to directors, officers, and employees as included in our costs and expenses, (iii) merger contract termination fees received from Intel, net of associated cost and taxes following the previously announced Intel contract termination as included in net profit in 2023 and (iv) restructuring income, net, which includes income, net of cost and taxes associated with the reorganization and restructure of our operations in Japan including the cessation of operations of the Arai facility, which occurred during 2022, as included in net profit. These adjusted financial measures should be evaluated in conjunction with, and are not a substitute for, GAAP financial measures. The tables also present the GAAP financial measures, which are most comparable to the adjusted financial measures used and/or presented in this release, as well as a reconciliation between the adjusted financial measures and the comparable GAAP financial measures. As used and/or presented in this release and/or prior earnings related filings and/or in related public disclosures or filings with respect to the financial statements and/or results of the Company, as well as may be included and calculated in the tables herein, the term Earnings Before Interest Taxes, Depreciation and Amortization which we define as EBITDA consists of operating profit in accordance with GAAP, excluding (i) depreciation expenses, which include depreciation recorded in cost of revenues and in operating cost and expenses lines (e.g., research and development related equipment and/or fixed other assets depreciation), (ii) stock-based compensation expense, (iii) amortization of acquired intangible assets, (iv) merger contract termination fees received from Intel, net of associated cost following the previously announced Intel contract termination, as included in operating profit and (v) restructuring income, net in relation to the reorganization and restructure of our operations in Japan including the cessation of operations of the Arai facility, as included in operating profit. EBITDA is reconciled in the tables below and/or prior earnings-related filings and/or in related public disclosures or filings with respect to the financial statements and/or results of the Company from GAAP operating profit. EBITDA and the adjusted financial information presented herein and/or prior earnings-related filings and/or in related public disclosures or filings with respect to the financial statements and/or results of the Company, are not a required GAAP financial measure and may not be comparable to a similarly titled measure employed by other companies. EBITDA and the adjusted financial information presented herein and/or prior earnings-related filings and/or in related public disclosures or filings with respect to the financial statements and/or results of the Company, should not be considered in isolation or as a substitute for operating profit, net profit or loss, cash flows provided by operating, investing and financing activities, per share data or other profit or cash flow statement data prepared in accordance with GAAP. The term Net Cash, as may be used and/or presented in this release and/or prior earnings-related filings and/or in related public disclosures or filings with respect to the financial statements and/or results of the Company, is comprised of cash, cash equivalents, short-term deposits, and marketable securities less debt amounts as presented in the balance sheets included herein. The term Net Cash is not a required GAAP financial measure, may not be comparable to a similarly titled measure employed by other companies and should not be considered in isolation or as a substitute for cash, debt, operating profit, net profit or loss, cash flows provided by operating, investing and financing activities, per share data or other profit or cash flow statement data prepared in accordance with GAAP. The term Free Cash Flow, as used and/or presented in this release and/or prior earnings related filings and/or in related public disclosures or filings with respect to the financial statements and/or results of the Company, is calculated to be net cash provided by operating activities (in the amounts of $101 million, $125 million and $126 million for the three months periods ended December 31, 2024, September 30, 2024 and December 31, 2023, respectively and in the amounts of $449 million and $677 million for the years ended December 31, 2024 and December 31, 2023, respectively (less cash used for investments in property and equipment, net (in the amounts of $93 million, $128 million and $136 million for the three months periods ended December 31, 2024, September 30, 2024 and December 31, 2023, respectively and in the amounts of $432 million and $432 million for the years ended December 31, 2024 and December 31, 2023, respectively). The term Free Cash Flow is not a required GAAP financial measure, may not be comparable to a similarly titled measure employed by other companies and should not be considered in isolation or as a substitute for operating profit, net profit or loss, cash flows provided by operating, investing, and financing activities, per share data or other profit or cash flow statement data prepared in accordance with GAAP.

    About Tower Semiconductor
    Tower Semiconductor Ltd. (NASDAQ/TASE: TSEM), the leading foundry of high-value analog semiconductor solutions, provides technology, development, and process platforms for its customers in growing markets such as consumer, industrial, automotive, mobile, infrastructure, medical and aerospace and defense. Tower Semiconductor focuses on creating a positive and sustainable impact on the world through long-term partnerships and its advanced and innovative analog technology offering, comprised of a broad range of customizable process platforms such as SiGe, BiCMOS, mixed-signal/CMOS, RF CMOS, CMOS image sensor, non-imaging sensors, displays, integrated power management (BCD and 700V), photonics, and MEMS. Tower Semiconductor also provides world-class design enablement for a quick and accurate design cycle as well as process transfer services including development, transfer, and optimization, to IDMs and fabless companies. To provide multi-fab sourcing and extended capacity for its customers, Tower Semiconductor owns one operating facility in Israel (200mm), two in the U.S. (200mm), two in Japan (200mm and 300mm) which it owns through its 51% holdings in TPSCo, shares a 300mm facility in Agrate, Italy with STMicroelectronics as well as has access to a 300mm capacity corridor in Intel’s New Mexico factory. For more information, please visit: www.towersemi.com.

    CONTACT:
    Liat Avraham | Investor Relations | +972-4-6506154 | liatavra@towersemi.com

    Forward-Looking Statements
    This release, as well as other statements and reports filed, stated and published in relation to this quarter’s results, includes certain “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include, among others, projections and statements with respect to our future business, financial performance and activities. The use of words such as “projects”, “expects”, “may”, “targets”, “plans”, “intends”, “committed to”, “tracking”, or words of similar import, identifies a statement as “forward-looking.” Actual results may vary from those projected or implied by such forward-looking statements and you should not place any undue reliance on such forward-looking statements, which describe information known to us only as of the date of this release. Factors that could cause actual results to differ materially from those projected or implied by such forward-looking statements include, without limitation, risks and uncertainties associated with: (i) demand in our customers’ end markets, (ii) reliance on acquisitions and/or gaining additional capacity for growth, (iii) difficulties in achieving acceptable operational metrics and indices in the future as a result of operational, technological or process-related problems, (iv) identifying and negotiating with third-party buyers for the sale of any excess and/or unused equipment, inventory and/or other assets, (v) maintaining current key customers and attracting new key customers, (vi) over demand for our foundry services resulting in high utilization and its effect on cycle time, yield and on schedule delivery, as well as customers potentially being placed on allocation, which may cause customers to transfer their business to other vendors, (vii) financial results that may fluctuate from quarter to quarter, making it difficult to forecast future performance, (viii) our debt and other liabilities that may impact our financial position and operations, (ix) our ability to successfully execute acquisitions, integrate them into our business, utilize our expanded capacity and find new business, (x) fluctuations in cash flow, (xi) our ability to satisfy the covenants stipulated in our agreements with our debt holders, (xii) pending litigation, (xiii) meeting the conditions set in approval certificates and other regulations under which we received grants and/or royalties and/or any type of funding from the Israeli, US and/or Japan governmental agencies, (xiv) receipt of orders that are lower than the customer purchase commitments and/or failure to receive customer orders currently expected, (xv) possible incurrence of additional indebtedness, (xvi) the effects of global recession, unfavorable economic conditions and/or credit crisis, (xvii) our ability to accurately forecast financial performance, which is affected by limited order backlog and lengthy sales cycles, (xviii) possible situations of obsolete inventory if forecasted demand exceeds actual demand when we create inventory before receipt of customer orders, (xix) the cyclical nature of the semiconductor industry and the resulting periodic overcapacity, fluctuations in operating results and future average selling price erosion, (xx) financing capacity acquisition related transactions, strategic and/or other growth or M&A opportunities, including funding Agrate fab’s significant 300mm capacity investments and acquisition or funding of equipment and other fixed assets associated with the capacity corridor transaction with Intel as announced in September 2023, in addition to other capacity and capability expansion plans, and the possible unavailability of such financing and/or the availability of such financing on unfavorable terms, (xxi) operating our facilities at sufficient utilization rates necessary to generate and maintain positive and sustainable gross, operating and net profit, (xxii) the purchase of equipment and/or raw material (including purchases beyond our needs), the timely completion of the equipment installation, technology transfer and raising the funds therefor, (xxiii) product returns and defective products, (xxiv) our ability to maintain and develop our technology processes and services to keep pace with new technology, including artificial intelligence, evolving standards, changing customer and end-user requirements, new product introductions and short product life cycles, (xxv) competing effectively, (xxvi) the use of outsourced foundry services by both fabless semiconductor companies and integrated device manufacturers, (xxvii) our dependence on intellectual property rights of others, our ability to operate our business without infringing others’ intellectual property rights and our ability to enforce our intellectual property against infringement, (xxviii) the Fab 3 landlord’s alleged claims that the noise abatement efforts made thus far are not adequate under the terms of the amended lease that caused him to request a judicial declaration that there was a material non-curable breach of the lease and that he would be entitled to terminate the lease, as well the ability to extend such lease or acquire the real estate and obtain the required local state and/or approvals required to be able to continue operations beyond the current lease term, (xxix) retention of key employees and recruitment and retention of skilled qualified personnel, (xxx) exposure to inflation, currency rates (mainly the Israeli Shekel, the Japanese Yen and the Euro) and interest rate fluctuations and risks associated with doing business locally and internationally, as well as fluctuations in the market price of our traded securities, (xxxi) meeting regulatory requirements worldwide, including export, environmental and governmental regulations, as well as risks related to international operations, (xxxii) potential engagement for fab establishment, joint venture and/or capital lease transactions for capacity enhancement in advanced technologies, including risks and uncertainties associated with the Agrate fab and the capacity corridor transaction with Intel as announced in September 2023, such as their qualification schedule, technology, equipment and process qualification, facility operational ramp-up, customer engagements, cost structure, required investments and other terms, which may require additional funding to cover their significant capacity investment needs and other payments, the availability of which funding cannot be assured on favorable terms, if at all, (xxxiii) potential liabilities, cost and other impacts that may be incurred or occur due to reorganization and consolidation of fabrication facilities, including the impact of cessation of operations of our facilities, including with regard to our 6 inch facility, (xxxiv) potential security, cyber and privacy breaches, (xxxv) workforce that is not unionized which may become unionized, and/or workforce that is unionized and may take action such as strikes that may create increased cost and operational risks, (xxxvi) the issuance of ordinary shares as a result of exercise and/or vesting of any of our employee equity, as well as any sale of shares by any of our shareholders, or any market expectation thereof, as well as the issuance of additional employee stock options and/or restricted stock units, or any market expectation thereof, which may depress the market value of the Company and the price of the Company’s ordinary shares and in addition may impair our ability to raise future capital, and (xxxvii) climate change, business interruptions due to floods, fires, pandemics, earthquakes and other natural disasters, the security situation in Israel, global trade “war” and the current war in Israel, including the potential inability to continue uninterrupted operations of the Israeli fab, impact on global supply chain to and from the Israeli fab, power interruptions, chemicals or other leaks or damages as a result of the war, absence of workforce due to military service as well as risk that certain countries will restrict doing business with Israeli companies, including imposing restrictions if hostilities in Israel or political instability in the region continue or exacerbate, and other events beyond our control. With respect to the current war in Israel, if instability in neighboring states occurs, Israel could be subject to additional political, economic, and military confines, and our Israeli facility’s operations could be materially adversely affected. Any current or future hostilities involving Israel or the interruption or curtailment of trade between Israel and its present trading partners, or a significant downturn in the economic or financial condition of Israel, could have a material adverse effect on our business, financial condition and results of operations.

    A more complete discussion of risks and uncertainties that may affect the accuracy of forward-looking statements included in this release or which may otherwise affect our business is included under the heading “Risk Factors” in the Company’s most recent filings on Forms 20-F and 6-K, as were filed with the SEC and the Israel Securities Authority. Future results may differ materially from those previously reported. The Company does not intend to update, and expressly disclaims any obligation to update, the information contained in this release.

    TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES  
    CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)  
    (dollars in thousands)  
      December 31,   December 31,  
      2024   2023  
    ASSETS        
    CURRENT ASSETS        
    Cash and cash equivalents $ 271,894   $ 260,664  
    Short-term deposits 946,351   790,823  
    Marketable securities —   184,960  
    Trade accounts receivable 211,932   154,067  
    Inventories 268,295   282,688  
    Other current assets 61,817   35,956  
    Total current assets 1,760,289   1,709,158  
    PROPERTY AND EQUIPMENT, NET 1,286,622   1,155,929  
    GOODWILL AND OTHER INTANGIBLE ASSETS, NET 10,196   12,115  
    OTHER LONG-TERM ASSETS 23,378   41,315  
    TOTAL ASSETS $ 3,080,485   $ 2,918,517  
    LIABILITIES AND SHAREHOLDERS’ EQUITY        
    CURRENT LIABILITIES        
    Short-term debt $ 48,376   $ 58,952  
    Trade accounts payable 130,624   139,128  
    Deferred revenue and customers’ advances 21,655   18,418  
    Other current liabilities 84,409   60,340  
    Total current liabilities 285,064   276,838  
    LONG-TERM DEBT 132,437   172,611  
    LONG-TERM CUSTOMERS’ ADVANCES 7,690   25,710  
    OTHER LONG-TERM LIABILITIES 15,114   16,319  
    TOTAL LIABILITIES 440,305   491,478  
    TOTAL SHAREHOLDERS’ EQUITY 2,640,180   2,427,039  
    TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 3,080,485   $ 2,918,517  
             
    TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES  
    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)  
    (dollars and share count in thousands, except per share data)  
      Three months ended  
      December 31,   September 30,   December 31,  
      2024   2024   2023  
    REVENUES $ 387,191   $ 370,512   $ 351,711  
    COST OF REVENUES 300,338   277,451   267,294  
    GROSS PROFIT 86,853   93,061   84,417  
    OPERATING COSTS AND EXPENSES:            
    Research and development 20,622   19,867   20,849  
    Marketing, general and administrative 19,812   17,432   18,401  
      40,434   37,299   39,250  
                 
    OPERATING PROFIT 46,419   55,762   45,167  
    FINANCING AND OTHER INCOME, NET 8,315   6,104   16,682  
    PROFIT BEFORE INCOME TAX 54,734   61,866   61,849  
    INCOME TAX EXPENSE, NET (2,149)   (7,026)   (10,130)  
    NET PROFIT 52,585   54,840   51,719  
    Net loss (profit) attributable to non-controlling interest 2,553   (193)   2,128  
    NET PROFIT ATTRIBUTABLE TO THE COMPANY $ 55,138   $ 54,647   $ 53,847  
    BASIC EARNINGS PER SHARE $ 0.49   $ 0.49   $ 0.49  
    Weighted average number of shares 111,493   111,237   110,796  
    DILUTED EARNINGS PER SHARE $ 0.49   $ 0.49   $ 0.48  
    Weighted average number of shares 112,967   112,474   111,308  
    RECONCILIATION FROM GAAP NET PROFIT ATTRIBUTABLE TO THE COMPANY TO ADJUSTED NET PROFIT ATTRIBUTABLE TO THE COMPANY:
    GAAP NET PROFIT ATTRIBUTABLE TO THE COMPANY $ 55,138   $ 54,647   $ 53,847  
    Stock based compensation 10,684   8,611   6,662  
    Amortization of acquired intangible assets 574   448   442  
    ADJUSTED NET PROFIT ATTRIBUTABLE TO THE COMPANY $ 66,396   $ 63,706   $ 60,951  
    ADJUSTED EARNINGS PER SHARE:            
    Basic $ 0.60   $ 0.57   $ 0.55  
    Diluted $ 0.59   $ 0.57   $ 0.55  
                 
    TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES  
    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)  
    (dollars and share count in thousands, except per share data)  
      Year ended  
      December 31,  
      2024   2023  
    REVENUES $ 1,436,122   $ 1,422,680  
    COST OF REVENUES 1,096,680   1,069,161  
    GROSS PROFIT 339,442   353,519  
    OPERATING COSTS AND EXPENSES:        
    Research and development 79,434   79,808  
    Marketing, general and administrative 74,964   72,454  
    Restructuring income, net * (6,270)   (32,506)  
    Merger-contract termination fee, net ** —   (313,501)  
      148,128   (193,745)  
             
    OPERATING PROFIT 191,314   547,264  
    FINANCING AND OTHER INCOME, NET 26,113   37,578  
    PROFIT BEFORE INCOME TAX 217,427   584,842  
    INCOME TAX EXPENSE, NET (10,205)   (65,312)  
    NET PROFIT 207,222   519,530  
    Net loss (profit) attributable to non-controlling interest 642   (1,036)  
    NET PROFIT ATTRIBUTABLE TO THE COMPANY $ 207,864   $ 518,494  
    BASIC EARNINGS PER SHARE $ 1.87   $ 4.70  
    Weighted average number of shares 111,153   110,289  
    DILUTED EARNINGS PER SHARE $ 1.85   $ 4.66  
    Weighted average number of shares 112,343   111,216  
    * Restructuring income, net resulted from the previously disclosed reorganization and restructure of our Japan operations during 2022.  
    ** Merger-contract termination fee received from Intel during the third quarter of 2023, net of associated cost.  
             
    RECONCILIATION FROM GAAP NET PROFIT ATTRIBUTABLE TO THE COMPANY TO ADJUSTED NET PROFIT ATTRIBUTABLE TO THE COMPANY:
    GAAP NET PROFIT ATTRIBUTABLE TO THE COMPANY $ 207,864   $ 518,494  
    Stock based compensation 33,837   27,931  
    Amortization of acquired intangible assets 1,918   1,923  
    Restructuring income, net *** (2,634)   (11,224)  
    Merger-contract termination fee, net **** —   (289,988)  
    ADJUSTED NET PROFIT ATTRIBUTABLE TO THE COMPANY $ 240,985   $ 247,136  
    ADJUSTED EARNINGS PER SHARE:        
    Basic $ 2.17   $ 2.24  
    Diluted $ 2.15   $ 2.22  
    *** Restructuring income, net resulted from the previously disclosed reorganization and restructure of our Japan operations during 2022, net of tax.
    **** Merger-contract termination fee received from Intel during the third quarter of 2023, net of associated cost and tax.
    TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES  
    CONSOLIDATED SOURCES AND USES REPORT (UNAUDITED)  
    (dollars in thousands)  
      Three months ended  
      December 31,   September 30,   December 31,  
      2024   2024   2023  
    CASH AND CASH EQUIVALENTS – BEGINNING OF PERIOD $ 270,979   $ 265,313   $ 314,816  
    Net cash provided by operating activities 100,816   124,743   126,098  
    Investments in property and equipment, net (93,396)   (127,624)   (136,426)  
    Debt received (repaid), net 2,795   (16,402)   (8,950)  
    Effect of Japanese Yen exchange rate change over cash balance (4,972)   5,537   2,101  
    Proceeds from (investment in) deposits, marketable securities and other assets, net (4,328)   19,412   (36,975)  
    CASH AND CASH EQUIVALENTS – END OF PERIOD $ 271,894   $ 270,979   $ 260,664  
      Year ended      
      December 31,   December 31,      
      2024   2023      
    CASH AND CASH EQUIVALENTS – BEGINNING OF PERIOD $ 260,664   $ 340,759      
    Net cash provided by operating activities 448,682   676,561 *    
    Investments in property and equipment, net (431,653)   (432,184)      
    Debt repaid, net (32,455)   (32,346)      
    Proceeds from investment in subsidiary —   1,932      
    Effect of Japanese Yen exchange rate change over cash balance (4,758)   (5,395)      
    Proceeds from (investment in) deposits, marketable securities and other assets, net 31,414   (288,663)      
    CASH AND CASH EQUIVALENTS – END OF PERIOD $ 271,894   $ 260,664      
    * Merger-contract termination fee received from Intel during 2023, net of associated cost, in the amount of $313,501  
    was included within the net cash provided by operating activities for the year ended December 31, 2023.  
     TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES  
    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)  
    (dollars in thousands)  
      Year ended  
      December 31,   December 31,  
      2024   2023  
    CASH FLOWS – OPERATING ACTIVITIES        
    Net profit for the period $ 207,222   $ 519,530  
    Adjustments to reconcile net profit for the period        
    to net cash provided by operating activities:        
    Income and expense items not involving cash flows:        
    Depreciation and amortization * 266,279   258,021  
    Effect of exchange rate differences and fair value adjustment 133   (1,632)  
    Other expense (income), net 24,721   (7,047)  
    Changes in assets and liabilities:        
    Trade accounts receivable (60,169)   (3,160)  
    Other current assets (33,992)   (9,541)  
    Inventories 4,778   8,682  
    Trade accounts payable 35,784   (8,254)  
    Deferred revenue and customers’ advances (14,783)   (35,676)  
    Other current liabilities 22,021   (70,163)  
    Other long-term liabilities (3,312)   25,801  
    Net cash provided by operating activities 448,682   676,561 **
    CASH FLOWS – INVESTING ACTIVITIES        
    Investments in property and equipment, net (431,653)   (432,184)  
    Proceeds from (investments in) deposits, marketable securities and other assets, net 31,414   (288,663)  
    Net cash used in investing activities (400,239)   (720,847)  
    CASH FLOWS – FINANCING ACTIVITIES        
    Debt repaid, net (32,455)   (32,346)  
    Proceeds from investment in subsidiary —   1,932  
    Net cash used in financing activities (32,455)   (30,414)  
    EFFECT OF FOREIGN CURRENCY EXCHANGE RATE CHANGE (4,758)   (5,395)  
             
    INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 11,230   (80,095)  
    CASH AND CASH EQUIVALENTS – BEGINNING OF PERIOD 260,664   340,759  
    CASH AND CASH EQUIVALENTS – END OF PERIOD $ 271,894   $ 260,664  
    * Includes amortization of acquired intangible assets and stock based compensation in the amounts of $35,755  
    and $29,854 for the years ended December 31, 2024, and December 31, 2023, respectively.      
    ** Merger-contract termination fee received from Intel during the third quarter of 2023, net of associated cost, in the amount
    of $313,501 was included within the net cash provided by operating activities for the year ended December 31, 2023.
             

    The MIL Network –

  • MIL-OSI Economics: RBI announces OMO Purchase of Government of India Securities – Revised amount

    Source: Reserve Bank of India

    The Reserve Bank has announced OMO purchase of Government securities for an aggregate amount of ₹20,000 crore on February 13, 2025 vide Press Release 2024-2025/2106 dated February 07, 2025.

    2. On a review of current and evolving liquidity conditions, the aggregate amount of OMO purchase has now been revised to ₹40,000 crore.

    3. The terms and conditions of the auction along with the various Government securities to be purchased remain the same as announced in the aforementioned Press Release.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2024-2025/2122

    MIL OSI Economics –

  • MIL-OSI United Kingdom: Media Release – By Election – 10.02.25 Monday 10 February 2025

    Source: Channel Islands – States of Alderney

    Media Release

    Date: 10th February 2025

    By Election

    The upcoming By Election for the two vacant seats on the States of Alderney will be held on March 8th at the Island Hall. Nominations to stand in the By Election are open from 9am on the 14th February and close at 4pm on the 21st February. If you are not on the electoral roll but wish to vote in the By Election, you have until 13th February to hand in your registration form.

    Further information on how to vote, how to register on the electoral roll and how to stand in the By Election can be found at our election’s website www.alderneyelections.gg Ends Media Contact: Publications.Alderney@gov.gg

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Interest continues to soar in ‘earn while you learn’ apprenticeships

    Source: Northern Ireland City of Armagh

    (L-R): Roger Wilson, Chief Executive Armagh City, Banbridge and Craigavon Borough Council; Lee Campbell, SRC Principal & CEO; Harry Hamilton, ABC LMP Vice-Chairperson; Councillor Kyle Savage, Deputy Lord Mayor of Armagh City, Banbridge and Craigavon; Tracy Rice, ABC LMP Chairperson; Alderman Paul Greenfield. (Economic Development and Regeneration Committee Chair, ABC Council).

    Over 920 people attended The Big Apprenticeship Event at the Craigavon Civic and Conference Centre on Thursday 6 February, to explore the opportunities available with apprenticeships and higher level apprenticeships across sectors from robotics, accountancy, beauty therapy, construction and engineering to transport and science.

    This is a key event in the Armagh, Banbridge and Craigavon (ABC) Labour Market Partnership’s Get Future Ready campaign, in partnership with Southern Regional College (SRC). The event ran alongside the Department for the Economy’s (DfE) Apprenticeship Week, which occurred from the 3 – 7 February 2025.

    Speaking at the event, Deputy Lord Mayor of Armagh City, Banbridge and Craigavon, Councillor Kyle Savage said; “Apprenticeships have come a long way from being associated with traditional trades to being a much sought-after pathway to a successful career in a wide range of sectors.

    “Throughout this event we have heard first hand from employers, education and training providers and current apprentices about how apprenticeships, which have greatly increased in recent years, are important for our future economy and a worthwhile investment for employers and apprentices alike. Employers can harness skills that best meet the needs of the business and apprentices feel secure and confident by learning sector-specific skills and gaining industry recognised qualifications.”

     “In council we are committed to working with our partners to drive the vision of the Labour Market Partnership to help get local people closer to work and into work through apprenticeships so everyone can achieve their full potential.”

    The theme for this year’s Apprenticeship Week was ‘Getting it Right for You’, highlighting the varied and flexible opportunities that exist with an apprenticeship.

    Lee Campbell, Principal & CEO of Southern Regional College added; “It has been incredible to witness the increased interest and enthusiasm for all things apprenticeships. The College has continuously developed the range of apprenticeship opportunities available, catering for the diverse interests and career pathways of people within the southern region.  

    “Apprenticeship and higher level apprenticeships offer participants the distinct opportunity to train for a career in a chosen field, whilst being in employment. Our aspiration is to enable as many people as possible to start a career they enjoy and are passionate about. We look forward to September when we will be welcoming new apprentices starting their journey with Southern Regional College.”

    Click here to find out more about apprenticeships at SRC.

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Volunteers sought to take part in Bay Road Tree Planting Day

    Source: Northern Ireland – City of Derry

    Volunteers sought to take part in Bay Road Tree Planting Day

    6 February 2025

    Derry City and Strabane District Council are seeking volunteers to take part in a special Tree Planting Day at Bay Road Park.

    The event on Saturday February 22nd from 10am to Midday will see hundreds of trees being planted as part of the Life Project where a sapling tree is planted to mark the registration of significant life events in the Council area.

    Over 10,000 trees have been planted since the initiative started seven years ago and sees every birth, death, civil partnership and marriage registered in the District Registration Offices in Derry and Strabane marked by the planting of a sapling tree.

    The project forms part of a wider Council strategy to improve air quality and the public’s mental health.

    Speaking ahead of the planting day, Mayor of Derry City and Strabane District Council, Councillor Lilian Seenoi-Barr, encouraged local people of all ages to get involved in the event by registering their attendance online.

    “The Life Tree project is a poignant means of marking and remembering the registration of birth, deaths, civil partnerships and marriages in our City and District.

    “The Tree Planting Day at Bay Park is an ideal way to get out into the outdoors and contribute to a project that can help improve our air quality and the local landscape.

    “I would encourage people to register now and get involved.” 

    Spades will be provided on the day and volunteers are advised to wear appropriate footwear, warm clothing and gloves.

    Helpers will be on hand on the day to give tree planting advice.

    The tree planting site is adjacent to Bay Road Soccer and those attending on the day can park on spaces on the Bay Road.

    Further information on the Life Project is available at www.derrystrabane.com/lifeproject where you can also share your experiences of planting your trees.  

    If you would like to volunteer, please register now at [email protected] or contact Environmental Health Department by calling 028 71 253253 .

    Please register early as places are limited.

    MIL OSI United Kingdom –

  • MIL-OSI Russia: HSE Launches Advanced Training Course on AI in Education

    Translartion. Region: Russians Fedetion –

    Source: State University Higher School of Economics – State University Higher School of Economics –

    Faculty of Computer Science HSE University is launching a professional development course on artificial intelligence in education. Program is intended for teachers, lecturers, and methodologists planning to integrate AI technologies into the educational process, as well as for management teams of educational institutions interested in improving educational processes through the implementation of AI.

    Teachers from the Faculty of Computer Science at the National Research University Higher School of Economics will show how to make artificial intelligence an assistant to a teacher so that it works for the benefit of the educational process. For example, students will be able to use neural networks to develop tests and educational materials, and analyze academic performance.

    The program consists of four blocks. The first is devoted to the effectiveness of AI in educational practice and the ethical issues of its use. The second block will examine AI services in detail: Yandex GPT, GigaChat, Perplexity and others. Teachers will tell how to use them to create programs of academic disciplines, articles, presentations, tests and assignments, and conduct data analysis. Block 3 contains information on how AI is currently used in education, business and media. The last block is a bonus. It is intended for those who want to delve deeper into the structure of large language models and learn about the practice of their application. Upon completion of the training in the Artificial Intelligence in Education program, students will be able to confidently create their own projects for integrating AI into the educational process based on the studied cases and examples.

    The integration of artificial intelligence tools into the educational process is not just a fashionable trend, but a necessity in today’s rapidly changing world, the expert believes Center for Continuous Education of the Faculty of Computer Science of the National Research University Higher School of Economics and the course creator Daria Kasyanenko, who spoke about the course and the importance of using AI tools in education.

    “AI opens up huge opportunities for personalizing learning, automating routine tasks, and increasing the efficiency of the educational process as a whole. Our course is designed to help teachers master these innovative technologies and implement them in their teaching practice,” she emphasized.

    The Higher School of Economics already has successful experience in this area. Last year, as part of the strategic academic leadership program “Priority 2030” More than 50% of HSE full-time employees have completed the course “Artificial Intelligence in Education and Research”.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI: BNP Paribas Primary New Issues: POST STAB: No Stab Notice – LOXAM S.A.S

    Source: GlobeNewswire (MIL-OSI)

    [10.02.2025]

    Not for distribution, directly or indirectly, in or into the United States or any jurisdiction in which such distribution would be unlawful.

    [LOXAM S.A.S]

    Post-stabilisation Period Announcement

    NO STABILISATION CARRIED OUT

    [Further to the pre-stabilisation period announcement dated [06.02.2025] BNP Paribas (contact: Stanford Hartman telephone: 0207 595 8222) hereby gives notice that no stabilisation (within the meaning of Article 3.2(d) of the Market Abuse Regulation (EU/596/2014)) was undertaken by the Stabilisation Manager(s) named below in relation to the offer of the following securities.

    Securities

    Issuer: LOXAM S.A.S
    Guarantor(s) (if any): N/A
    Aggregate nominal amount: EUR 500,000,000
    Description: EUR 5YR
    Offer price: 100

    Stabilisation Manager(s)

    Name(s): BNP PARIBAS

    This announcement is for information purposes only and does not constitute an invitation or offer to underwrite, subscribe for or otherwise acquire or dispose of any securities of the Issuer in any jurisdiction.

    This announcement is not an offer of securities for sale into the United States. The securities referred to above have not been, and will not be, registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an exemption from registration. There has not been and will not be a public offer of the securities in the United States.
      

    The MIL Network –