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  • MIL-OSI: FINNOVATE ACQUISITION CORP. ANNOUNCES REVISED MONTHLY SPONSOR CONTRIBUTION OF $0.05 PER SHARE TO TRUST ACCOUNT FOR PROPOSED EXTENSION AND POSTPONEMENT OF SHAREHOLDER MEETING TO 10:00 AM EASTERN TIME NOVEMBER 6, 2024

    Source: GlobeNewswire (MIL-OSI)

    Boston, MA, Nov. 01, 2024 (GLOBE NEWSWIRE) — Finnovate Acquisition Corp. (“Finnovate” or the “Company”) (Nasdaq: “FNVT”, “FNVTU”, “FNVTW”) announced today that, in connection with the Company’s upcoming extraordinary general meeting of shareholders (the “Special Meeting”) to consider and approve an extension of time for the Company to consummate an initial business combination from November 8, 2024 to May 8, 2025 (the “Extension”), Finnovate Sponsor, L.P. (the “Sponsor”) or its designees have agreed to revise their intended contribution to support the Extension, such that they will contribute to the Company as a loan an aggregate of $0.05 for each Class A ordinary share that is not redeemed, for each calendar month (commencing on November 8, 2024 and on the 8th day of each subsequent month) until May 8, 2025 (each, an “Extension Period”), or portion thereof, that is needed to complete an initial business combination (the “Contribution”). For example, if the Company takes until May 8, 2025 to complete its initial business combination, which would represent six calendar months, the Sponsor or its designees would make aggregate Contributions resulting in a redemption amount of approximately $11.91 per unredeemed share, in comparison to the current redemption amount of $ approximately 11.61 per share.

    Each Contribution will be deposited in the trust account within seven calendar days from the beginning of each Extension Period (or portion thereof), and any Contribution is conditioned upon the implementation of the Extension. No Contribution will occur if the Extension is not approved or is not completed. The amount of each Contribution will not bear interest and will be repayable by the Company to the Sponsor or its designees upon consummation of its initial business combination. The Company will have the sole discretion whether to continue extending for additional calendar months until May 8, 2025. If the Company opts not to utilize any remaining portion of the Extension Period, then the Company will liquidate and dissolve promptly in accordance with its Articles, and its Sponsor’s obligation to make additional contributions will terminate.

    In connection with the above announcement of the Contribution to be made by the Sponsor or its designees if the Extension is approved, the Company is also postponing the Special Meeting from the originally scheduled 10:00 a.m. Eastern time on Friday, November 1, 2024, to 10:00 a.m. Eastern time on Wednesday, November 6, 2024. At the Special Meeting, shareholders will be asked to vote on the proposal to extend the date by which the Company must consummate an initial business combination from November 8, 2024 to May 8, 2025, or such earlier date as determined by the Company’s board of directors.

    As a result of this change, the Special Meeting will now be held at 10:00 a.m., Eastern time, on November 6, 2024, via a live webcast at https://www.cstproxy.com/finnovateacquisition/egm2024. Also as a result of this change, the deadline for holders of the Company’s Class A ordinary shares issued in the Company’s initial public offering to submit their shares for redemption in connection with the Extension, is being extended to 5:00 p.m., Eastern time, on Monday, November 4, 2024.

    The Company plans to continue to solicit proxies from shareholders during the period prior to the Special Meeting. Only the holders of the Company’s ordinary shares as of the close of business on October 2, 2024, the record date for the Special Meeting, are entitled to vote at the Special Meeting.

    About Finnovate Acquisition Corp.

    Finnovate Acquisition Corp. (Nasdaq: FNVT) is a blank check company incorporated in the Cayman Islands with the purpose of acquiring one and more businesses and assets, via a merger, capital stock exchange, asset acquisition, stock purchase, and reorganization.

    Forward-Looking Statements

    This press release includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. These forward-looking statements and factors that may cause such differences include, without limitation, uncertainties relating to the Company’s shareholder approval of the Extension, its inability to complete an initial business combination within the required time period or, and other risks and uncertainties indicated from time to time in filings with the Securities and Exchange Commission (the “SEC”), including the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023 under the heading “Risk Factors” and in other reports the Company has filed, or to be filed, with the SEC. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

    Participants in the Solicitation

    Finnovate and its directors, executive officers, other members of management and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies from the securityholders of the Company in favor of the approval of the Extension Proposal. Investors and security holders may obtain more detailed information regarding the names, affiliations and interests of the Company’s directors and officers in the Company’s definitive proxy statement filed with the SEC on October 15, 2024 (as may be amended, the “Proxy Statement”), which may be obtained free of charge from the sources indicated above.

    No Offer or Solicitation

    This press release s shall not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the Extension. This communication shall also not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act or an exemption therefrom.

    Additional Information and Where to Find It

    Finnovate urges investors, shareholders and other interested persons to read the Proxy Statement as well as other documents filed by the Company with the SEC, because these documents will contain important information about the Company and the Extension. Shareholders may obtain copies of the Proxy Statement, without charge, at the SEC’s website at www.sec.gov or by directing a request to: Advantage Proxy, Inc., P.O. Box 10904, Yakima, WA 98909, Attn: Karen Smith.

    INVESTOR RELATIONS CONTACT

    Finnovate Acquisition Corp.
    Calvin Kung
    265 Franklin Street
    Suite 1702
    Boston, MA 02110
    +1 (424) 253-0908

    The MIL Network –

  • MIL-OSI: Envoy Medical Receives FDA Approval To Initiate Pivotal Clinical Study for Breakthrough Hearing Device

    Source: GlobeNewswire (MIL-OSI)

    The Acclaim® Fully Implanted Cochlear Implant is differentiated from existing cochlear implants and may offer new option for hearing loss patients

    WHITE BEAR LAKE, Minnesota, Nov. 01, 2024 (GLOBE NEWSWIRE) —  Envoy Medical®, Inc. (“Envoy Medical”) (NASDAQ: “COCH”), a hearing health company focused on fully implanted hearing systems, today announces that its Investigational Device Exemption (IDE) application for its pivotal study of the Acclaim® Fully Implanted Cochlear Implant has been approved by the U.S. Food and Drug Administration (FDA). The Acclaim® technology includes an implanted sensor designed to leverage the natural anatomy of the ear to capture sound, making it different from existing cochlear implants on the market.

    “Receiving FDA approval to initiate this pivotal study marks a significant milestone in our efforts to bring this breakthrough hearing device to more people with severe to profound hearing loss,” said Brent Lucas CEO of Envoy Medical. “Currently, it is estimated that roughly 95% of patients with significant hearing loss who could benefit from a cochlear implant have not received one. We believe the differences in our device’s design provide an opportunity to pursue this important therapy in a more discrete manner and offer candidates a welcomed new option that may get more patients to embrace the potential benefits of a cochlear implant.”

    The Company plans to select some of the top cochlear implant institutions in the U.S. as investigational sites for the study. As IRB approvals are obtained, the Company will share information on the investigational sites for interested patients.

    “The excitement around the Acclaim® device is palpable, and we have been extremely humbled by the number of top-tier cochlear implant programs that want to participate in this study,” said Lucas. “While we are not able to select every site for this study, we believe that this excitement and significant interest across the country is a strong signal of our potential ability to penetrate the market should we be successful in gaining commercial approval.”

    The FDA approved the IDE application as a staged clinical study. This allows preliminary clinical data to be gathered on a subset of patients prior to expanding enrollment to the full subject cohort. As with any investigational device, approval of an IDE application does not ensure that the results of the investigation will provide a reasonable assurance of the safety and effectiveness or assure a determination of approval for a premarket submission.

    Lucas continued, “The last two weeks demonstrate our passionate commitment to innovation, competition, and change in the hearing industry. Last week marked the American Medical Association’s approval of new CPT codes for totally implantable active middle ear implants, which opens new opportunities for our already FDA-approved Esteem® device. This week, we are celebrating IDE approval to start a pivotal study for our investigational Acclaim® device. Two devices serving two patient populations, both moving the hearing industry forward. We are building a company that is positioning itself to be a market segment leader in the hearing industry. We are excited about what the future holds for Envoy Medical.”

    About the Fully Implanted Acclaim® Cochlear Implant

    We believe the fully implanted Acclaim Cochlear Implant (“Acclaim CI”) is a first-of-its-kind hearing device. Envoy Medical’s fully implanted technology includes a sensor designed to leverage the natural anatomy of the ear instead of a microphone to capture sound.

    The Acclaim CI is designed to address severe to profound sensorineural hearing loss that is not adequately addressed by hearing aids. The Acclaim CI is expected to be indicated for adults who have been deemed adequate candidates by a qualified physician.

    The Acclaim Cochlear Implant received the Breakthrough Device Designation from the U.S. Food and Drug Administration (FDA) in 2019.

    CAUTION The fully implanted Acclaim Cochlear Implant is an investigational device. Limited by Federal (or United States) law to investigational use.

    About the Esteem® Fully Implanted Active Middle Ear Implant (FI-AMEI)

    The Esteem fully implanted active middle ear implant (FI-AMEI) is the only FDA-approved, fully implanted* hearing device for adults diagnosed with moderate to severe sensorineural hearing loss allowing for 24/7 hearing capability using the ear’s natural anatomy. The Esteem FI-AMEI hearing implant is invisible and requires no externally worn components and nothing is placed in the ear canal for it to function. Unlike hearing aids, you never put it on or take it off. You can’t lose it. You don’t clean it. The Esteem FI-AMEI hearing implant offers true 24/7 hearing.

    *Once activated, the external Esteem FI-AMEI Personal Programmer is not required for daily use.

    Important safety information for the Esteem FI-AMEI can be found at: https://www.envoymedical.com/safety-information.

    Additional Information and Where to Find It

    Copies of the documents filed by Envoy Medical with the SEC may be obtained free of charge at the SEC’s website at www.sec.gov.

    Forward-Looking Statements

    This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-Looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. Such statements may include, but are not limited to, statements regarding the expectations of Envoy Medical concerning the outlook for its business, productivity, plans and goals for future operational improvements and capital investments; the Acclaim CI being the first to market fully implanted cochlear implant, the timing of IRB approvals, site activations, enrollment, and beginning of Envoy Medical’s clinical trial, the timing of and FDA’s position related to expanding the clinical trial to full cohort, the result of the clinical trial, the timing and results of clinical trials of the Acclaim CI, and the participation of any institution in such trials; the safety, performance, and market acceptance of the Acclaim CI; and any information concerning possible or assumed future operations of Envoy Medical. The forward-looking statements contained in this press release reflect Envoy Medical’s current views about future events and are subject to numerous known and unknown risks, uncertainties, assumptions and changes in circumstances that may cause its actual results to differ significantly from those expressed in any forward-looking statement. Envoy Medical does not guarantee that the events described will happen as described (or that they will happen at all). These forward-looking statements are subject to a number of risks and uncertainties, including, but not limited to changes in the market price of shares of Envoy Medical’s Class A Common Stock; changes in or removal of Envoy Medical’s shares inclusion in any index; Envoy Medical’s success in retaining or recruiting, or changes required in, its officers, key employees or directors; unpredictability in the medical device industry, the regulatory process to approve medical devices, and the clinical development process of Envoy Medical products; competition in the medical device industry, and the failure to introduce new products and services in a timely manner or at competitive prices to compete successfully against competitors; disruptions in relationships with Envoy Medical’s suppliers, or disruptions in Envoy Medical’s own production capabilities for some of the key components and materials of its products; changes in the need for capital and the availability of financing and capital to fund these needs; changes in interest rates or rates of inflation; legal, regulatory and other proceedings could be costly and time-consuming to defend; changes in applicable laws or regulations, or the application thereof on Envoy Medical; a loss of any of Envoy Medical’s key intellectual property rights or failure to adequately protect intellectual property rights; the effects of catastrophic events, including war, terrorism and other international conflicts; and other risks and uncertainties set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward Looking Statements” in the Annual Report on Form 10-K filed by Envoy Medical on April 1, 2024, and in other reports Envoy Medical files, with the SEC. If any of these risks materialize or Envoy Medical’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. While forward-looking statements reflect Envoy Medical’s good faith beliefs, they are not guarantees of future performance. Envoy Medical disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, new information, data or methods, future events or other changes after the date of this press release, except as required by applicable law. You should not place undue reliance on any forward-looking statements, which are based only on information currently available to Envoy Medical. 

    ###

    Investor Contact:
    CORE IR
    516-222-2560
    investorrelations@envoymedical.com

    The MIL Network –

  • MIL-OSI: Blackford Capital Appoints John Snowden as CEO of Its Expanding Outdoor Living and Recreation Platform

    Source: GlobeNewswire (MIL-OSI)

    GRAND RAPIDS, Mich., Nov. 01, 2024 (GLOBE NEWSWIRE) — Blackford Capital (“Blackford”), a leading lower middle market private equity firm, is excited to announce the appointment of John Snowden as Chief Executive Officer of its rapidly growing Patio Consolidation Platform (“Platform”), which serves as a leader in the Outdoor Living and Recreation space. Mr. Snowden’s appointment will take effect on November 4. With an extensive background in driving operational excellence, strategic acquisitions, and digital transformation, Mr. Snowden will spearhead Blackford’s vision to “Own the Backyard” by building a comprehensive, omni-channel platform that capitalizes on the booming outdoor living market.

    Blackford’s Patio Platform currently includes notable brands like Starfire Direct, Artificial Turf Supply, Patio Productions, Harmonia Living, and the recent addition, Empire Distributing, a leader in hearth and outdoor living products. Together, these businesses serve a diverse customer base across digital and traditional retail channels, strengthening Blackford’s market reach in the growing home and outdoor lifestyle sector.

    Mr. Snowden brings to Blackford over three decades of leadership experience, including roles as Chief Operating Officer at Recom and Chief Executive Officer of Trademark Global LLC. His proven track record includes transforming mid-market companies into powerhouse brands through data-driven insights, supply chain optimization, and successful integrations of multiple acquisitions. Under his leadership, Blackford’s Patio Platform will focus on expanding its product portfolio and leveraging digital and traditional distribution channels to create a one-stop solution for outdoor living needs.

    “We’re thrilled to welcome John Snowden as the CEO of our Patio Consolidation Platform. A man of great character, his vision and commitment to operational rigor align perfectly with our strategic goals for the Platform,” said Martin Stein, Founder and Managing Partner of Blackford Capital. “With John’s leadership, we are poised to consolidate our current companies, maximize the incredible product lineup and channel expertise across the portfolio and ultimately expand our presence and deliver unparalleled value to our customers.”

    Snowden’s appointment comes at a pivotal moment as Blackford continues to execute its consolidation strategy, designed to capitalize on demographic trends favoring outdoor home improvements, with the potential to capture even greater market share through strategic acquisitions, cross-selling synergies, and a streamlined, customer-centric approach. The consolidated companies will provide a full spectrum of high-end outdoor products, including patio furniture, firepits, artificial turf, and more, through an omni-channel presence spanning e-commerce and dealer networks.

    About Blackford Capital
    Founded in 2010, Blackford Capital is a private equity investment firm headquartered in Grand Rapids, Michigan. Blackford acquires, manages, and builds founder and family-owned, lower middle-market companies, with a focus on the manufacturing, industrial and distribution industries. Blackford has a track record of exceptional returns, a disciplined and relentless approach to value creation, and a focus on operational excellence and a compelling culture. In 2023, Blackford Capital was named to Inc’s list of Founder-Friendly Investors, was recognized by ACG Detroit with the 2023 M&A Dealmaker of the Year Award and awarded the 2023 Small Markets Deal of the Year award by both Buyouts Magazine and the Global M&A Network Atlas Awards. For more information, visit www.blackfordcapital.com.

    Media Contact:
     Jackson Lin
    Lambert
    (646) 717-4593
    jlin@lambert.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5c03f69f-76d4-46d2-9b07-81ff8ea60d65

    The MIL Network –

  • MIL-OSI: Northway Financial, Inc. Announces Third Quarter Earnings

    Source: GlobeNewswire (MIL-OSI)

    NORTH CONWAY, N.H., Nov. 01, 2024 (GLOBE NEWSWIRE) — Northway Financial, Inc. (the “Company”) (OTCQB: NWYF), the parent company of Northway Bank (the “Bank”), today reported net income for the quarter ended September 30, 2024 of $1.2 million, or $0.45 per basic common share, compared to $1.6 million, or $0.58 per basic common share for the quarter ended September 30, 2023. For the nine months ended September 30, 2024, the Company reported net income of $3.6 million, or $1.31 per basic common share, compared to $4.7 million, or $1.71 per basic common share for the same period in 2023.

    President and CEO William J. Woodward commented: “During the third quarter we continued to reduce our reliance on wholesale funding by putting a focus on retaining deposits and limiting our lending. Wholesale funding decreased by $122 million, significantly reducing our reliance on wholesale funding. The third quarter was marked by the announcement of our pending merger with Camden National Corporation. The closing date of the merger is still to be determined but we anticipate the merger to be completed in the first quarter of 2025. We will be holding a special shareholder meeting to approve the merger agreement. The details of the merger and the shareholder meeting will be sent to all shareholders in the coming weeks. Please look out for the information and return your proxy card as soon as possible. The Board of Directors have unanimously approved the merger, and your support, as always, is greatly appreciated.”

    Financial Highlights

    • Total Assets were $1.2 billion, Loans, Net, were $900 million, and Total Deposits were $1 billion at September 30, 2024.
    • Total Assets decreased $137 million, or 10%, compared to September 30, 2023, driven by decreases in Loans, Net of $55 million, Cash and Due from Banks and Interest-Bearing Deposits of $51 million and Securities Available-for-Sale at Fair Value of $20 million.
    • The decrease in Loans, Net was led by a decrease in Commercial Real Estate loans of $25 million, Residential Real Estate loans of $22 million, and Consumer Loans of $6 million, compared to September 30, 2023.
    • Non-Municipal Deposits (excluding brokered deposits) increased $18 million compared to September 30, 2023 led by an increase in Retail Deposits of $21 million or 4%.
    • The increase in Retail Deposits was led by an increase in Time Deposits of $69 million offset by a decrease in Non-Maturity Deposits of $48 million.
    • Non-Municipal Deposits (excluding brokered deposits) increased $18 million, or 6%, compared to December 31, 2023.
    • Wholesale Funding, which includes brokered deposits and borrowings, decreased $122 million, or 49%, compared to September 30, 2023, and $82 million, or 39%, compared to December 31, 2023.
    • Total Equity increased $21 million, or 37%, compared to September 30, 2023, primarily from an increase in the market value of Securities Available-for-Sale at Fair Value.
    • Net Income for the nine-month period ending September 30, 2024, was $3.6 million, or $1.31, per basic common share.
    • Year-to-date Net Interest Income was $2.9 million lower than the same period last year driven by an increase in interest expense of $2.2 million.
    • The year-to-date Net Interest Margin decreased from 2.67% to 2.59% as funding costs increased .44% while the yield on earning assets increased 0.25%, compared to year-to-date September 30, 2023.
    • Nonperforming loans as a percentage of total loans stood at 0.41% compared to 0.31% at September 30, 2023.
    • Total delinquent loans as a percentage of total loans were 0.06% compared to 0.02% at September 30, 2023.
    • The Bank’s regulatory capital ratios at September 30, 2024 exceeded all well-capitalized ratios as defined under FDIC’s prompt corrective action rules.
    • The market price of our common stock, as of October 31, 2024, was $32.35.
     
    Northway Financial, Inc.
    Selected Financial Highlights
    (Unaudited)
                   
    (Dollars in thousands, except per share data) Three Months Ended   Nine Months Ended
      9/30/2024   9/30/2023   9/30/2024   9/30/2023
                   
    Interest and Dividend Income $ 12,772   $ 13,372     $ 37,576   $ 38,260  
    Interest Expense   5,046     4,572       14,223     12,002  
    Net Interest and Dividend Income   7,726     8,800       23,353     26,258  
    Provision for Credit Losses   –     –       –     –  
    All Other Noninterest Income   1,445     1,036       3,819     3,535  
    Noninterest Expense   8,041     7,720       23,837     24,030  
    Net Income Before Gain (Loss) on Securities   1,130     2,116       3,335     5,763  
    Gain (Loss) on Securities Available-for-Sale, Net   –     –       –     –  
    (Loss) Gain on Marketable Equity Securities   249     (199 )     515     (309 )
    Income before Income Tax (Benefit) Expense   1,379     1,917       3,850     5,454  
    Income Tax (Benefit) Expense   133     305       233     744  
    Net Income $ 1,246   $ 1,612     $ 3,617   $ 4,710  
    Net Income Available to Common Stockholders $ 1,246   $ 1,612     $ 3,617   $ 4,710  
    Earnings per Common Share, Basic $ 0.45   $ 0.58     $ 1.31   $ 1.71  
                   
                   
        9/30/2024   12/31/2023   9/30/2023  
                   
    Balance Sheet            
    Total Assets $ 1,221,077   $ 1,290,467   $ 1,357,654  
    Cash and Due from Banks and Interest-Bearing Deposits   22,584     68,887     74,139  
    Securities Available-for-Sale, at Fair Value   241,224     246,756     261,502  
    Marketable Equity Securities, at Fair Value   3,104     2,589     3,405  
    Loans Held-for-Sale   1,555     –     –  
    Loans, Net   900,517     909,781     956,053  
    Total Liabilities   1,141,363     1,217,230     1,299,301  
    Non Municipal Non-Maturity Deposits   712,708     734,741     763,784  
    Municipal Non-Maturity Deposits   113,959     133,100     138,674  
    Certificates of Deposit   183,576     127,726     143,868  
    Securities Sold Under Agreements to Repurchase   49,722     55,353     68,728  
    Short-Term Borrowings   –     65,000     78,600  
    Long-Term Debt   45,000     60,000     60,000  
    Junior Subordinated Debentures   20,620     20,620     20,620  
    Stockholders’ Equity   79,714     73,237     58,353  
    Profitability and Efficiency            
    Net Interest Margin   2.59 %   2.63 %   2.67 %
    Yield on Earning Assets   4.11     3.90     3.86  
    Cost of Interest Bearing Liabilities   1.98     1.63     1.54  
    Book Value Per Share of Common Shares Outstanding $ 28.97   $ 26.62   $ 21.21  
    Tangible Book Value Per Share of Common Shares Outstanding   25.18     22.83     17.42  
    Common Shares Outstanding   2,751,650     2,751,650     2,751,650  
    Weighted Average Number of Common Shares, Basic   2,751,650     2,751,650     2,751,650  
    Capital Ratios for the Bank            
    Tier 1 Core Capital to Average Assets   9.09 %   8.30 %   8.23 %
    Common Equity Risk-Based Capital   15.27     14.40     13.91  
    Tier 1 Risk-Based Capital   15.27     14.40     13.91  
    Total Risk-Based Capital   16.52     15.65     15.16  
     

    About Northway Financial, Inc.

    Northway Financial, Inc., headquartered in North Conway, New Hampshire, is a bank holding company. Through its subsidiary bank, Northway Bank, the Company offers a broad range of financial products and services to individuals, businesses, and the public sector from its 16 banking offices and its loan production offices located in Bedford and Portsmouth, New Hampshire.

    Forward-looking Statements

    Statements included in this press release that are not historical or current fact are “forward-looking statements” made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995 and are subject to certain risks and uncertainties that could cause actual results to differ materially from historical earnings and those presently anticipated or projected. Northway Financial, Inc. disclaims any obligation to subsequently revise any forward-looking statements to reflect events or circumstances after the date of such statements, or to reflect the occurrence of anticipated or unanticipated events or circumstances.

    No Offer or Solicitation

    This communication is not a proxy statement or solicitation or a proxy, consent or authorization with respect to any securities or in respect of the pending merger of Camden National Corporation (“Camden National”) and the Company (the “Merger”) and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of Camden National, the Company or the combined company, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be deemed to be made except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended, and otherwise in accordance with applicable law.

    Additional Information and Where to Find It

    In connection with the Merger, Camden National has filed a registration statement on Form S-4 with the SEC, which also includes a proxy statement of Northway and a prospectus of Camden National, and Camden National will file other documents regarding the proposed transaction with the SEC. A definitive proxy statement/prospectus will also be sent to Northway stockholders seeking the required stockholder approval of the proposed transaction. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, INVESTORS AND SECURITY HOLDERS OF NORTHWAY ARE URGED TO CAREFULLY READ THE ENTIRE REGISTRATION STATEMENT AND PROXY STATEMENT/PROSPECTUS, WHEN THEY BECOME AVAILABLE, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. The documents filed by Camden National with the SEC may be obtained free of charge at the SEC’s website at www.sec.gov. In addition, the documents filed by Camden National may be obtained free of charge under the “Investor Relations” section of Camden National’s website at http://www.camdennational.bank. Alternatively, these documents, when available, can be obtained free of charge from Camden National upon written request to Camden National Corporation, Attn: Corporate Secretary, 2 Elm Street, Camden, Maine 04843.

    Participants in Solicitation

    Camden National, Northway, and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction under the rules of the U.S. Securities and Exchange Commission (the “SEC”). Information regarding Camden National’s directors and executive officers is available in its definitive proxy statement, which was filed with the SEC on April 5, 2024, and certain other documents filed by Camden National with the SEC. Other information regarding the participants in the solicitation of proxies in respect of the proposed transaction and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement/prospectus and other relevant materials to be filed with the SEC. Free copies of these documents, when available, may be obtained as described in the preceding paragraph.

    The MIL Network –

  • MIL-OSI: Oxford Lane Capital Corp. Announces Net Asset Value and Selected Financial Results for the Second Fiscal Quarter and Declaration of Distributions on Common Stock for the Months Ending January, February, and March 2025

    Source: GlobeNewswire (MIL-OSI)

    GREENWICH, Conn., Nov. 01, 2024 (GLOBE NEWSWIRE) — Oxford Lane Capital Corp. (Nasdaq: OXLC) (NasdaqGS: OXLCP) (NasdaqGS: OXLCL) (NasdaqGS: OXLCO) (NasdaqGS: OXLCZ) (NasdaqGS: OXLCN) (NasdaqGS: OXLCI) (“Oxford Lane,” the “Company,” “we,” “us” or “our”) announced today the following financial results and related information: 

    • On October 24, 2024, our Board of Directors declared the following distributions on our common stock:
    Month Ending Record Date Payment Date Amount Per Share
    January 31, 2025 January 17, 2025 January 31, 2025 $0.09
    February 28, 2025 February 14, 2025 February 28, 2025 $0.09
    March 31, 2025 March 17, 2025 March 31, 2025 $0.09
     
    • Net asset value (“NAV”) per share as of September 30, 2024 stood at $4.76, compared with a NAV per share on June 30, 2024 of $4.91.
    • Net investment income (“NII”), calculated in accordance with U.S. generally accepted accounting principles (“GAAP”), was approximately $67.2 million, or $0.22 per share, for the quarter ended September 30, 2024.
    • Our core net investment income (“Core NII”) was approximately $99.4 million, or $0.32 per share, for the quarter ended September 30, 2024.
      • Core NII incorporates all applicable cash distributions received, or entitled to be received (if any, in either case), on our collateralized loan obligation (“CLO”) equity investments. See additional information under “Supplemental Information Regarding Core Net Investment Income” below.
      • We emphasize that our taxable income may differ materially from our GAAP NII and/or our Core NII, and that neither GAAP NII nor Core NII should be relied upon as indicators of our taxable income.
    • Total investment income for the quarter ended September 30, 2024 amounted to approximately $105.1 million, which represented an increase of approximately $15.4 million from the quarter ended June 30, 2024.
      • For the quarter ended September 30, 2024 we recorded investment income as follows:
        • Approximately $98.3 million from our CLO equity and CLO warehouse investments, and
        • Approximately $6.8 million from our CLO debt investments and other income.
    • Our total expenses for the quarter ended September 30, 2024 were approximately $37.9 million, compared with total expenses of approximately $33.8 million for the quarter ended June 30, 2024.
    • As of September 30, 2024, the following metrics applied (note that none of these metrics represented a total return to shareholders):
      • The weighted average yield of our CLO debt investments at current cost was 17.3%, down from 17.4% as of June 30, 2024.
      • The weighted average effective yield of our CLO equity investments at current cost was 16.5%, down from 16.8% as of June 30, 2024.
      • The weighted average cash distribution yield of our CLO equity investments at current cost was 24.1%, down from 26.9% as of June 30, 2024.
    • For the quarter ended September 30, 2024, we recorded a net increase in net assets resulting from operations of approximately $17.9 million, or $0.06 per share, comprised of:
      • NII of approximately $67.2 million;
      • Net realized gains of approximately $3.2 million; and
      • Net unrealized depreciation of approximately $52.5 million.
    • During the quarter ended September 30, 2024, we made additional investments of approximately $540.0 million, and received approximately $160.2 million from sales and repayments of our CLO investments.
    • For the quarter ended September 30, 2024, we issued a total of approximately 48.1 million shares of common stock pursuant to an “at-the-market” offering. After deducting the sales agent’s commissions and offering expenses, this resulted in net proceeds of approximately $252.0 million. As of September 30, 2024, we had approximately 337.3 million shares of common stock outstanding.
    • On October 24, 2024, our Board of Directors declared the required monthly dividends on our 6.25% Series 2027 Term Preferred Shares, 6.00% Series 2029 Term Preferred Shares, and 7.125% Series 2029 Term Preferred Shares as follows:
    Preferred
    Shares Type    		 Per Share Dividend Amount Declared Record Dates Payment Dates
    6.25% – Series 2027 $ 0.13020833  December 17, 2024, January 17, 2025, February 14, 2025 December 31, 2024, January 31, 2025, February 28, 2025
    6.00% – Series 2029 $ 0.12500000  December 17, 2024, January 17, 2025, February 14, 2025 December 31, 2024, January 31, 2025, February 28, 2025
    7.125% – Series 2029 $ 0.14843750  December 17, 2024, January 17, 2025, February 14, 2025 December 31, 2024, January 31, 2025, February 28, 2025
     

    In accordance with their terms, each of the 6.25% Series 2027 Term Preferred Shares, 6.00% Series 2029 Term Preferred Shares, and 7.125% Series 2029 Term Preferred Shares will pay a monthly dividend at a fixed rate of 6.25%, 6.00% and 7.125%, respectively, of the $25.00 per share liquidation preference, or $1.5625, $1.5000 and $1.78125 per share per year, respectively. This fixed annual dividend rate is subject to adjustment under certain circumstances, but will not, in any case, be lower than 6.25%, 6.00% and 7.125% per year, respectively, for each of the 6.25% Series 2027 Term Preferred Shares, 6.00% Series 2029 Term Preferred Shares and 7.125% Series 2029 Term Preferred Shares.

    Supplemental Information Regarding Core Net Investment Income 

    We provide information relating to Core NII (a non-GAAP measure) on a supplemental basis. This measure is not provided as a substitute for GAAP NII, but in addition to it. Our non-GAAP measures may differ from similar measures by other companies, even in the event of similar terms being utilized to identify such measures. Core NII represents GAAP NII adjusted for additional applicable cash distributions received, or entitled to be received (if any, in either case), on our CLO equity investments. Oxford Lane’s management uses this information in its internal analysis of results and believes that this information may be informative in assessing the quality of Oxford Lane’s financial performance, identifying trends in its results and providing meaningful period-to-period comparisons.

    Income from investments in the “equity” class securities of CLO vehicles, for GAAP purposes, is recorded using the effective interest method; this is based on an effective yield to the expected redemption utilizing estimated cash flows, at current cost, including those CLO equity investments that have not made their inaugural distribution for the relevant period end. The result is an effective yield for the investment in which the respective investment’s cost basis is adjusted quarterly based on the difference between the actual cash received, or distributions entitled to be received, and the effective yield calculation. Accordingly, investment income recognized on CLO equity securities in the GAAP statement of operations differs from the cash distributions actually received by the Company during the period (referred to below as “CLO equity adjustments”). 

    Furthermore, in order for the Company to continue qualifying as a regulated investment company for tax purposes, we are required, among other things, to distribute at least 90% of our investment company taxable income annually. While Core NII may provide a better indication of our estimated taxable income than GAAP NII during certain periods, we can offer no assurance that will be the case, however, as the ultimate tax character of our earnings cannot be determined until after tax returns are prepared at the close of a fiscal year. We note that this non-GAAP measure may not serve as a useful indicator of taxable earnings, particularly during periods of market disruption and volatility, and, as such, our taxable income may differ materially from our Core NII.

    The following table provides a reconciliation of GAAP NII to Core NII for the three months ended September 30, 2024:

      Three Months Ended  
    September 30, 2024  
        Amount   Per Share
    Amount
    GAAP net investment income $ 67,188,478   $ 0.22  
    CLO equity adjustments   32,164,525     0.10  
    Core net investment income $ 99,353,003   $ 0.32  
     

    We will host a conference call to discuss our second quarter results today, Friday, November 1, 2024 at 9:00 AM ET. Please call 1-833-470-1428, access code number 436588 to participate. A recording of the conference call will be available for replay for approximately 30 days following the call. The replay number is 1-866-813-9403, and the replay passcode is 813197.  

    A presentation containing additional details regarding our quarterly results of operations has been posted under the Investor Relations section of our website at www.oxfordlanecapital.com. 

    About Oxford Lane Capital Corp. 

    Oxford Lane Capital Corp. is a publicly-traded registered closed-end management investment company principally investing in debt and equity tranches of CLO vehicles. CLO investments may also include warehouse facilities, which are financing structures intended to aggregate loans that may be used to form the basis of a CLO vehicle.

    Forward-Looking Statements

    This press release contains forward-looking statements subject to the inherent uncertainties in predicting future results and conditions. Any statements that are not statements of historical fact (including statements containing the words “believes,” “plans,” “anticipates,” “expects,” “estimates” and similar expressions) should also be considered to be forward-looking statements. These statements are not guarantees of future performance, conditions or results and involve a number of risks and uncertainties.  Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements. These factors are identified from time to time in our filings with the Securities and Exchange Commission. We undertake no obligation to update such statements to reflect subsequent events, except as may be required by law.

    Contact:
    Bruce Rubin
    203-983-5280

    The MIL Network –

  • MIL-OSI Economics: Samsung Electronics Showcases Massive Outdoor LED Signage at Shinsegae Department Store, Ushering in a New Seoul Landmark

    Source: Samsung

     
    Samsung Electronics today announced the installation of its Outdoor LED Signage XHB Series (P8) at the flagship location of Shinsegae Department Store in Seoul, South Korea. Unveiled during the “2024 Lights Up SEOUL, KOREA” event today, the installation is set to establish Myeongdong Square in Seoul as Korea’s new premier landmark, featuring a stunning media lighting display that illuminates the heart of Seoul’s iconic shopping district.
     
    “Our LED displays present unlimited possibilities for places like Myeongdong to bear new elements of cultural significance,” said Hoon Chung, Executive Vice President of the Visual Display Business at Samsung Electronics. “This installation gives us an opportunity to showcase in the biggest way possible that our outdoor digital displays are built to engage, built to deliver impactful content, and built to last.”
     
    Located within the Myeongdong Special Tourist Zone Area, Shinsegae Department Store is uniquely positioned as a free outdoor advertising zone that enables creative and expansive installations. Samsung’s massive outdoor LED signage featuring an anamorphic 8K display, wraps around the entire outer wall of the building, measuring 71.8 meters in width and 17.9 meters in height — equivalent in size to three basketball courts.
     

     
    Spanning a total area of 1,285 square meters, the display is designed for resilience in harsh weather, featuring an IP66 rating for dust and water resistance, and UL 48 and UL 746C certifications1 for year-round durability. The installation is engineered for high visibility and vibrant color accuracy, with support for HDR10+ technology to deliver sharp contrast and rich visuals. With a max brightness of 8,000 nits,2 the display ensures exceptional clarity even in direct sunlight. Its high refresh rate of 7,680Hz minimizes flicker and the moiré effect,3 ensuring a stable display that remains visually crisp, even through camera lenses.
     
    Samsung’s track record of success with digital signage spans prominent venues worldwide. In South Korea, Samsung provided the country’s largest ever high-definition LED signage to Coex SM Town, while transformative installations at New York’s Citi Field and Houston’s Minute Maid Park set new standards for in-stadium displays. At Citi Field, Samsung installed the largest scoreboard in professional baseball, featuring over 29,800 square feet of LED screens that immerse fans in the action from every angle. Similarly, at Minute Maid Park, Samsung’s high-definition LED technology redefined the fan experience with massive outdoor displays and a dynamic new main scoreboard, all designed to enhance the excitement of the game.
     

     
    In Myeongdong, the new installation will not only host engaging advertisements and dynamic video content, but also transform into a breathtaking annual Christmas media façade, creating a festive atmosphere for visitors.
     
    “Shinsegae’s media façade, beloved by global customers for the past 10 years, has now been recreated as Shinsegae Square. This transformation paves the way for it to become an iconic landmark of Seoul, making it not only a must-visit attraction but also a central hub for K-culture. We are excited to partner with Samsung to bring our customers unique experiences that blend heritage and digital technology,” Shinsegae spokesperson said.
     
    Samsung’s Outdoor LED Signage is renowned for exceptional performance in demanding environments, evidenced by award-winning deployments at iconic venues such as Inglewood, California’s SoFi Stadium, which boasts the world’s largest LED videoboard ever built for sports, and the Formula 1 Las Vegas Grand Prix, where Samsung installed a 481-foot-long rooftop LED display in the shape of the F1 logo. As Myeongdong evolves into a global tourism destination, Samsung continues to lead with solutions that inspire and engage.
     

     
     
    1 UL 48 and UL 746C certifications, issued by Underwriters Laboratories (UL), verify compliance with safety standards for electric signs and durability of materials in outdoor environments, including UV and weather resistance.2 Maximum brightness measured post-calibration; actual values may vary with conditions.3 The moiré effect is an undesirable visual phenomenon that occurs when repetitive patterns, such as lines, are captured in photographs.

    MIL OSI Economics –

  • MIL-OSI United Nations: Drought – Water Accessibility and Availability: Challenges, Successes, and Failures

    Source: United Nations Economic Commission for Europe

    Welcome to the first in a series of annual discussions under the Trees in Dry Cities Presentation & Discussion Series. These sessions are designed to bring critical issues related to urban forest management to the forefront, providing a platform for Coalition members and urban forestry professionals to share knowledge, best practices, and lessons learned. This series will serve as a vital resource for all stakeholders involved in the management of urban forests, addressing both immediate and long-term challenges.  

    The first webinar, Drought – Water Accessibility and Availability: Challenges, Successes, and Failures, will focus on the increasingly pressing issue for cities worldwide. In light of the growing urgency of climate change and its profound impact on water resources, the discussion will adopt a broad perspective to encourage diverse contributions and promote collaborative, solution-oriented dialogue.

    MIL OSI United Nations News –

  • MIL-OSI Video: President Trump Gives Speech on No Tax on Tips Policy in Las Vegas

    Source: United States of America – The White House (video statements)

    Las Vegas, NV

    https://www.youtube.com/watch?v=OXo-XBvMAUQ

    MIL OSI Video –

  • MIL-OSI USA: McConnell Proud to Confirm Noem as Secretary of Homeland Security

    US Senate News:

    Source: United States Senator for Kentucky Mitch McConnell

    Washington, D.C. – U.S. Senator Mitch McConnell (R-KY) issued the following statement today regarding the confirmation of Governor Kristi Noem (R-SD) as U.S. Secretary of Homeland Security: 

    “I was proud to vote for Governor Kristi Noem to serve as Secretary of Homeland Security. Secretary Noem’s familiarity with Congress and her executive experience as Governor of South Dakota will be immediately valuable as she gets to work on an array of domestic security threats, from confronting natural disasters to guarding our coasts to maintaining our cyber security defenses. Foremost among the Department’s complicated missions is addressing the ongoing security and humanitarian crisis at our southern border. The American people handed this Administration a crystal-clear mandate to clean up the mess at our border from the last four years. I look forward to working with Secretary Noem to do just that.”

    MIL OSI USA News –

  • MIL-OSI New Zealand: First Responders – Mangawhai tornado update #2 from Fire and Emergency NZ

    Source: Fire and Emergency New Zealand

    Firefighters are continuing to check homes and properties in the area where a tornado affected an area of Mangawhai earlier this morning.

    Fire and Emergency NZ started to receive 111 calls from about 3am, Northland District Manager Wipari Henwood said.

    Reports included people needing to be rescued from damaged property, rooves lifted from buildings, trees fallen onto homes, windows blown in and fallen power lines, as well as trees blocking roads.

    Most of the calls have been from people in the Molesworth Drive and Old Waipu Road area, with a couple from Langs Beach and Ruakaka reporting wind damage.

    “Our initial response prioritised the calls that related to life safety. Firefighters extricated two patients and handed them into the care of St John,” Wipari Henwood said.

    “We are now working through all the calls for help with property damage and making systematic checks of homes in the wider area.”

    Fire and Emergency’s specialist drone team has been deployed from Auckland and will help with damage assessments.

    Crews from seven brigades have responded to about 16 calls so far.

    Cordons are in place on Moir St and Molesworth Drive and power is still out in the area. People should treat all power lines as live and stay well away from the area so emergency services can move freely.

    Fire and Emergency continues to work with Police, St John and Civil Defence Northland in the coordinated response to the tornado.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: First Responders – Fire crews respond to multiple calls after Mangawhai tornado

    Source: Fire and Emergency New Zealand

    Fire and Emergency NZ is responding to multiple calls following a reported tornado in the Northland community of Mangawhai around 3am today.
    Response Coordinator Graeme Quensell says firefighters from several brigades in the area are already at the scene assisting residents and other crews have been dispatched from Waitemata.
    Incidents include roofs lifted from homes, fallen trees and downed powerlines.
    About 16 calls have been received from Mangawhai and one from Langs Beach to the North.
    An Incident Management Team has been established.
    Graeme Quensell said that people in the area should make safety their first priority and wait until daylight to assess damage to their property. They should treat all power lines as live, and please avoid driving in the area so as not to hold up emergency services.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Govt Cuts – One week on, new Health Minister must lift hiring freeze and start delivering

    Source: PSA

    The PSA is urging new Health Minister Simeon Brown to make good on his promise to deliver better health outcomes for New Zealanders and lift the hiring freeze on the health workforce.
    When unveiled as the new Health Minister one week ago today, Mr Brown made much of his priority to ensure the health system ‘delivers for New Zealanders’.
    “The Minister has had a week of briefings from officials and knows the issues so should start delivering straight away and lift the hiring freeze on the health workforce,” said Duane Leo, National Secretary for the Public Service Association for Te Pūkenga Here Tikanga Mahi.
    “The freeze has impacted many urgently needed frontline roles. At the same time the Government had inflicted damaging cuts to jobs throughout Te Whatu Ora.
    “Hundreds of workers have lost jobs or will soon be gone in a desperate effort by the Government to simply save money. That’s not how you deliver better health outcomes for New Zealanders.
    “It’s time to put a halt to the restructuring and save the jobs of so many who make a vital contribution to the health system. The Government needs to invest more in health instead of choosing to spend billions on tax cuts.
    “It’s reassuring that Te Whatu Ora has put some restructures on hold – the Minister needs to order them to be scrapped entirely and end the uncertainty for health workers.
    “Replacing Health Minister Shane Reti after barely a year in the job was a clear admission of failure by the Prime Minister.
    “Christopher Luxon knows New Zealanders are seeing the cold hard reality of the health cuts every day in longer wait times at EDs, delays to elective surgery and other problems.
    “The new Health Minister now needs to step up and deliver – that means no more cuts.”
    Recent PSA statements on health cuts

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Fatal crash, Winton Lorneville Highway

    Source: New Zealand Police (National News)

    Police can confirm one person has died in hospital following a crash on the Winton Lorneville Highway on Tuesday 21 January.

    Two people were transported to hospital in a critical condition following the crash. One person passed away yesterday as a result of the injuries sustained.

    Police extend our condolences to the family and loved ones of those involved.

    The second person remains in hospital in a critical condition.

    Enquiries into the circumstances of the crash are ongoing.

    ENDS

    Issued by Police Media Centre

    MIL OSI New Zealand News –

  • MIL-OSI Europe: AMERICA/CHILE – First National Youth Day: “Jesus calls you, do not say no”

    Source: Agenzia Fides – MIL OSI

    Saturday, 25 January 2025

    La Serena (Agenzia Fides) – “Let us all open our hearts. You, especially young people, open your hearts to Jesus. Do it, do not be afraid, because the Lord needs you today, he needs all of us today”. With these words, the Auxiliary Bishop of the Archdiocese of La Serena, Henry Joseph Balzán, addressed the young people gathered for the first National Youth Day in Chile. The Prelate invited the young people to reflect on who the excluded of today are and to become instruments of inclusion and support, following the example of Jesus.“The Lord wants your heart to be ready to help the excluded of today, to seek them, to include them and to extend a hand to them. Jesus has called you, he wants to act through you. Do not say no to him”, said Bishop Balzán.The opening event, attended by thousands of young people, took place on January 22nd and marked the beginning of a series of almost a week of meetings, dialogues of hope, solidarity actions and artistic and cultural events that will take place in the cities of La Serena and Coquimbo until Sunday, January 26th.The opening Mass, presided over by the Auxiliary Bishop of La Serena and con-celebrated by about twenty bishops and as many priests from various dioceses, was accompanied by musical performances. “The musical accompaniment is intended to make the Mass an experience that will remain etched in the hearts of thousands of young people from all over Chile who will come together from Arica to Tierra del Fuego to celebrate faith, fraternity and hope together,” the organizers said in a statement sent to Fides.Bishop Balzán, member of the National Commission for the Day, in his welcoming speech emphasized the fact that the beginning of the day was celebrated on the feast of the young Blessed Laura Vicuña, born in Santiago de Chile, a student at the Institute of the Daughters of Mary Help of Christians, who at the age of thirteen offered her life to God for the conversion of her mother. She was beatified by John Paul II on September 3, 1988. Bishop Balzán, a member of the Youth Day Organizing Committee, stressed in his welcoming speech that this event of the Catholic Church in Chile takes place in the context of the beginning of the Jubilee proclaimed by Pope Francis, whose motto is part of the Youth Day: “National Youth Day 2025: Young Pilgrims of Hope”.After the opening on January 22, the meetings on January 23 focused on the theme “Jesus is our hope”. Today, January 24, has the theme “Witnesses of Hope”, in reference to the solidarity missions carried out by the young people in the midst of the different realities of the parish areas that have welcomed them. Saturday, January 25, has the theme “You are the light on our path”, with the young people gathering for the last Eucharistic celebrations in their parishes before moving to the Lighthouse of La Serena, where the common Eucharistic adoration vigil will be celebrated. Finally, on Sunday 26 May, there will be a day of “celebration and thanksgiving” which will end with a solemn closing mass. (AP) (Agenzia Fides, 25/1/2025)
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  • MIL-OSI Europe: ASIA/INDIA – Resignation and succession of metropolitan archbishop of Bombay

    Source: Agenzia Fides – MIL OSI

    Saturday, 25 January 2025

    Vatican City (Agenzia Fides) – The Holy Father has accepted the resignation from the pastoral care of the metropolitan archdiocese of Bombay, India, presented by His Eminence Cardinal Oswald Gracias.He is succeeded by Archbishop John Rodrigues, until now coadjutor archbishop of the same See.His Exc. Msgr. John Rodrigues was born on 21 August 1967 in Mumbai. He obtained a Licentiate in Dogmatic Theology from the Pontifical Lateran University in Rome (2000-2002). He was ordained a priest on 18 April 1998 for the Metropolitan Archdiocese of Bombay.He has held the following positions: Deputy Parish Priest of St. Michael in Mahim (1998-1999); Secretary to the Cardinal Metropolitan Archbishop of Bombay (1999-2000); Professor of Dogmatic Theology (2002-2013) and Dean of Studies (2011-2013) at St. Pius X College in Goregaon.Appointed Titular Bishop of Deulto and Auxiliary Bishop of Bombay on 15 May 2013, he received episcopal consecration on 29 June. He was transferred to the Diocese of Poona on 25 March 2023. (Agenzia Fides 25/1/2025)
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    MIL OSI Europe News –

  • MIL-OSI Europe: AFRICA/ALGERIA – Resignation and appointment of bishop of Laghouat

    Source: Agenzia Fides – MIL OSI

    Saturday, 25 January 2025

    Vatican City (Agenzia Fides) – Pope Francis has accepted the resignation from the pastoral governance of the Diocese of Laghouat (Algeria) presented by His Exc. Msgr. John Gordon MacWilliam, M. Afr. At the same time the Holy Father has appointed the Reverend Fr. Diego Ramón Sarrió Cucarella, M.Afr., former dean of the Pontifical Institute of Arabian and Islamic Studies (PISAI) in Rome, as bishop of Laghouat, Algeria.Msgr. Diego Ramón Sarrió Cucarella was born on 20 July 1971 in Valencia, Spain. He studied philosophy at the Faculty of Theology of Madrid, and theology at Tangaza University, Nairobi, Kenya.He was ordained a priest on 2 June 2001.After ordination, he held the role of animator at the Cultural and Saharian Documentation Centre in Ghardaïa, diocese of Laghouat (2001-2003). He was awarded a licentiate at PISAI (2004-2006) and went on to serve as director of the diocesan library of Tunisi (2006-2009). He obtained a doctorate in Islamic studied from Georgetown University in Washington D.C. (2009-2013), and went on to serve as director (2014-2017) and president (2017-2024) of PISAI.He teaches Islamic subjects at the Pontifical Lateran University of Rome, and is a consultor of the Dicastery for Interreligious Dialogue. (Agenzia Fides, 25/1/2025)
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  • MIL-OSI Europe: ASIA/MYANMAR – Erection of the diocese of Mindat, Myanmar, and appointment of first bishop

    Source: Agenzia Fides – MIL OSI

    Saturday, 25 January 2025

    Vatican City (Agenzia Fides) – The Holy Father has erected the new diocese of Mindat, Myanmar, with territory taken from the diocese of Hakha, making it a suffragan of the metropolitan archdiocese of Mandalay.The Holy Father has appointed the Reverend Augustine Thang Zawm Hung, of the clergy of Hakha, until now responsible for the translation of the Bible into local languages and parish vicar of Sacred Heart in Mindat, as first bishop of Mindat.Msgr. Augustine Thang Zawm Hung was born on 4 December 1973 in Mindat. He studied philosophy at the major seminary of Pyin Oo Lwin, and theology at Saint Joseph’s Catholic Major Seminary of the archdiocese of Yangon.He was ordained a priest on 17 November 2002 for the clergy of Hakha.After ordination, he first served as parish priest of Saint Michael’s, Kanpetlet, Mindat (2003-2005). He was awarded a licentiate in sacred scripture from the Pontifical Biblical Institute in Rome (2005-2009), and went on to serve as secretary of the diocese of Kalay (2009-2010), secretary of the diocese of Hakha (2010-2012). He obtained a doctorate in sacred scripture from the Universität Innsbruck in Austria (2013-2018) and held the role of professor at the Saint Joseph Major Seminary in Yangon (2018-2022). Since 2022 he has been parish vicar of Sacred Heart, Mindat, and head of translation of the Bible into local languages.The new diocese of Mindat [Mindatin(us)] in Myanmar is located in the district of Mindat, in the southern part of the Chin State, including the division of Magwem. The See of the diocese is the city of Mindat. The Cathedral Church of the new Ecclesiastical Circumscription is the current parish Church of Most Sacred Heart of Jesus in Mindat. (Agenzia Fides, 25/1/2025)

    Attachment to the article

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  • MIL-OSI Europe: AFRICA/BURKINA FASO – Resignation and appointment of bishop of Nouna, Burkina Faso

    Source: Agenzia Fides – MIL OSI

    Saturday, 25 January 2025

    Vatican City (Agenzia Fides) – The Holy Father has accepted the resignation from the pastoral care of the diocese of Nouna, Burkina Faso, presented by Bishop Joseph Sama.The Holy Father has appointed the Reverend Guy Mukasa Sanon, of the clergy of Bobo-Dioulasso, until now rector of the Saint Pierre-Saint Paul Seminary of Kossoghin, Ouagadougou, in Burkina Faso, as bishop of the diocese of Nouna, Burkina Faso.Msgr. Guy Mukasa Sanon was born on 14 September 1968 in Toussiana. After studying philosophy at the Saint Jean Baptiste de Wayalghin Major Seminary, Ouagadougou, he attended the theology cycle at the Saint Pierre Claver de Koumi Major Seminary in Bobo-Dioulasso.He was ordained a priest on 14 July 1996 and incardinated in the archdiocese of Bobo-Dioulasso.After ordination, he held the roles of parish vicar of Saint Vincent de Koko in Bobo-Dioulasso (1996-1998); and formator and director of studies in the Minor Seminary of Nasso, Bobo-Dioulasso (2001-2005). He was awarded a doctorate in philosophy at the Université catholique de Louvain in Belgium (2005-2010), and went on to serve as parish vicar (2010-2011) and parish priest (2011-2016) of the Cathedral of Bobo-Dioulasso, visiting professor at the Saint Pierre-Saint Paul Major Seminary of Kossoghin a Ouagadougou (2011-2016); and permanent formator and professor of philosophy at the Saint Pierre-Saint Paul Major Seminary of Kossoghin a Ouagadougou (2016-2019). Since 2019 he has been rector of the same seminary. (Agenzia Fides, 25/1/2025)
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  • MIL-OSI USA: Republican Governors Welcome South Dakota Governor Larry Rhoden

    Source: US Republican Governors Association

    The following text contains opinion that is not, or not necessarily, that of MIL-OSI –

    WASHINGTON, D.C. – Republican Governors Association Chair Georgia Governor Brian Kemp issued the following statement welcoming new South Dakota Governor Larry Rhoden to the Republican Governors Association after Governor Kristi Noem was confirmed by the U.S. Senate to serve as the Secretary of Homeland Security:

    “I am proud to welcome South Dakota Governor Larry Rhoden to the ranks of Republican governors across America. Governor Rhoden is a commonsense, conservative rancher with a long record of service to South Dakota – serving in the South Dakota National Guard and as South Dakota’s Lieutenant Governor. Republican governors from across the nation look forward to working with him as we continue in our mission to deliver results for the American people.”

    MIL OSI USA News –

  • MIL-OSI USA: Duckworth Joins Fischer, Colleagues in Reintroducing Bipartisan Legislation to Help Improve Passenger Vehicle Safety

    US Senate News:

    Source: United States Senator for Illinois Tammy Duckworth

    January 24, 2025

    [WASHINGTON, D.C.] – U.S. Senators Tammy Duckworth (D-IL)—a member of the U.S. Senate Committee on Commerce, Science and Transportation (CST)—Deb Fischer (R-NE), Patty Murray (D-WA) and Marsha Blackburn (R-TN) reintroduced bipartisan legislation to help modernize vehicle safety tests by requiring the use of the most advanced testing devices available—including a female crash test dummy. The bipartisan She Develops Regulations In Vehicle Equality and Safety (She DRIVES) Act would help enhance passenger vehicle safety by updating U.S. crashworthiness testing procedures. The bill is estimated to help save more than 1,300 lives, prevent and mitigate tens of thousands of serious injuries and save billions of dollars in economic impact from preventing and mitigating injuries and deaths.

    “We can be doing more to improve our roadways and make sure visiting a family member or a routine trip to the grocery store doesn’t end in tragedy,” said Senator Duckworth. “I’m proud to help reintroduce this bipartisan legislation, which would help mitigate injuries and save lives on our roadways by ensuring our crash test standards better represent the safety needs of all Americans.”

    “Outdated crash testing standards make women 17 percent more likely to be killed in auto crashes than men, but that doesn’t have to be the case. By updating crash test dummy standards, our bill will save thousands of lives and prevent thousands more serious injuries each year,” said Senator Fischer.

    Last December, Duckworth announced more than $2 million in federal funding through the U.S. Department of Transportation (DOT) to improve crash reporting in Illinois to help make our roads as safe as possible and reduce the number of lives lost to car crashes.

    -30-

    MIL OSI USA News –

  • MIL-OSI USA: Duckworth Votes Against Pete Hegseth’s Nomination to Serve as Secretary of Defense

    US Senate News:

    Source: United States Senator for Illinois Tammy Duckworth

    January 24, 2025

    [WASHINGTON, D.C.] – Tonight, combat Veteran and U.S. Senator Tammy Duckworth (D-IL)—a member of the U.S. Senate Armed Services Committee who served 23 years in the Reserve Forces—released the following statement after voting against Pete Hegseth’s nomination to serve as Secretary of Defense. After the U.S. Senate voted 50-50, Hegseth was confirmed by a tie-breaking vote from Vice President JD Vance in favor of his nomination.

    “Throughout his nomination process, Pete Hegseth proved again and again that he does not have the qualifications, the breadth of knowledge or the moral fiber to lead the greatest military on the face of the earth. Managing our nation’s largest and most complex organization, the 3 million personnel who fall under its umbrella and our nearly $900 billion defense budget takes a serious candidate. Yet, it is deeply shameful that tonight—despite shouting from the rooftops that they wanted to bring meritocracy back to our military—nearly every Republican chose to confirm someone who so obviously lacks the merits to serve as our Secretary of Defense. And our brave servicemembers, our military readiness and our national security will pay the price.

    “Not only does Pete Hegseth lack the experience to do the job, the mountain of abuse and sexual misconduct allegations that have come to light further underscores how unfit he is to uphold good order and discipline in our Armed Forces. Rank and file members of our great military would be held accountable for the actions Mr. Hegseth has allegedly committed and would not be able to serve, much less be promoted. It is insulting to ask our servicemembers to uphold the absolute highest standards, only to turn around and lower the standards for Pete Hegseth to lead them.

    “I’m deeply concerned by the message that confirming someone as unqualified as Pete Hegseth is sending to our servicemembers—including the brave women in combat who, unlike Mr. Hegseth, have earned their roles—as well as our adversaries around the world. Our nation deserves better. In the months and years ahead, I will continue to do everything in my power to make sure our Armed Forces are as strong as possible.”

    Last week, Duckworth delivered an impassioned speech on the Senate floor slamming U.S. Secretary of Defense nominee Pete Hegseth for his lack of experience and qualifications to lead the Department of Defense. Speaking next to a framed copy of the Soldier’s Creed—a copy that hangs over her desk in the Senate and hung above her bed during her recovery at Walter Reed Medical Center after the helicopter she co-piloted was shot down—Duckworth underscored that it would be insulting to ask our servicemembers to train and perform to the absolute highest standards if the Senate confirms a Secretary of Defense who is wholly unprepared and unqualified to lead them in any way.

    During his confirmation hearing, Duckworth demonstrated some of the areas where Mr. Hegseth lacks the experience or knowledge that a serious Defense Secretary nominee should have, grilling him on basic questions that he failed to answer. She asked him if he ever led an audit. He would not confirm. She asked him to describe at least one of the main international security agreements a Secretary of Defense is responsible for leading. He could not name any. She asked him to name at least one nation that is a part of ASEAN, an organization with several member states who have mutual defense treaties, alliances or enhanced defense cooperation agreements with the U.S. None of the three countries he named were correct.

    -30-

    MIL OSI USA News –

  • MIL-OSI Australia: Tasmania Police officer and DPFEM state service employees recognised in Australia Day Honours

    Source: Tasmania Police

    Tasmania Police officer and DPFEM state service employees recognised in Australia Day Honours

    Sunday, 26 January 2025 – 6:53 am.

    One officer from Tasmania Police and two state service employees from the Department of Police, Fire and Emergency Management (DPFEM) will be recognised in the Australia Day Honours today.

    Director Matthew Richman has more than 40 years’ service with Tasmania Police, including most recently as an Inspector, and currently holds the position of Director of Wellbeing Support. Today he is receiving the Australian Police Medal.

    Inspector Brenda Orr has more than 24 years’ service with Tasmania Police and currently holds the position of Inspector, Southern Regional Prosecution Services. Today she is receiving the Australian Police Medal.

    Mr Warwick Brennan has more than 25 years’ experience working as a communications practitioner in the government sector, and currently holds the position of Stakeholder Engagement Manager within DPFEM. Today he is receiving the Public Service Medal.

    Expressing her congratulations to the recipients, Commissioner Donna Adams said, “On behalf of Tasmania Police, and the broader Department of Police Fire and Emergency Management, today I congratulate Director Matthew Richman, Inspector Brenda Orr, and Mr Warwick Brennan as they receive awards in the Australia Day Honours.”
    “Within Tasmania Police, Director Richman and Inspector Orr have a combined service of more than 64 years’ and they have made a significant and enduring contribution to our policing service, and the Tasmanian community.”
    “They are highly respected within Tasmania Police, and regarded for their experience, leadership and genuine care of others.
    “Their commitment to policing and service to the community exemplify the highest standards of public service and makes them very worthy recipients of the Australian Police Medal.”
    “Within the Department of Police, Fire and Emergency Services, Mr Warwick Brennan will today be awarded the Public Service Medal.”
    “Mr Brennan has made a significant contribution to public sector communications through key leadership roles across government, with outstanding service in relation to emergency and incident management communications.”
    “He has managed public information and communications teams across a range of Tasmanian Government responses including bushfires, whale strandings, and the COVID-19 pandemic; and he currently provides high-level strategic communications advice across DPFEM.”
    “On behalf of Tasmania Police, and more broadly DPFEM, I thank Director Richman, Inspector Orr, and Mr Brennan for their ongoing service and dedication.”
    “I also thank the award recipients from Tasmania Fire Service and Tasmania State Emergency Service for their unwavering commitment to assisting our services and the community.”

    MIL OSI News –

  • MIL-OSI New Zealand: Unexplained death, Queenstown

    Source: New Zealand Police (National News)

    An investigation is underway after the death of a woman at a Queenstown property on Saturday 25 January.

    Emergency services were called to the Windsor Place property about 2.30pm.

    Police are now working to establish the full circumstances of how she died. Her death is currently being treated as unexplained.

    As part of our enquiries, Police would like to speak to anyone who was in the vicinity of Windsor Place between 8.00am and 3.00pm and who might have information that would assist.

    If you can help, please use our 105 service, and quote reference number 250125/8733.

    You can also share information anonymously through Crime Stoppers on 0800 555 111.

    ENDS 

    Issued by Police Media Centre

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Second fatality following crash, Milford Clandeboye Road

    Source: New Zealand Police (National News)

    Police can confirm a second person has died following a crash on Milford Clandeboye Road on Wednesday 22 January.

    The person was transported to hospital in a critical condition following the crash and passed away on Friday evening (24 January) as a result of the injuries sustained.

    Police extend our condolences to the family and loved ones of those involved.

    Enquiries into the circumstances of the crash are ongoing.

    ENDS

    Issued by Police Media Centre

    MIL OSI New Zealand News –

  • MIL-OSI USA: US Department of Labor to cease and desist all investigative and enforcement activity under rescinded Executive Order 11246

    Source: US Department of Labor

    WASHINGTON – Acting Secretary of Labor Vince Micone today transmitted Secretary’s Order 03-2025 to all department employees, directing them to cease and desist all investigative and enforcement activity under the rescinded Executive Order 11246 and the regulations promulgated under it.  

    The order applies to all department employees, including the Office of Federal Contract Compliance Programs, the Office of Administrative Law Judges and the Administrative Review Board. 

    The department no longer has any authority under the rescinded Executive Order 11246 or its regulations.  

    Read Secretary’s Order 03-2025.

    MIL OSI USA News –

  • MIL-OSI Europe: President Meloni visits Saudi Arabia

    Source: Government of Italy (English)

    25 Gennaio 2025

    The President of the Council of Ministers, Giorgia Meloni, is visiting Saudi Arabia on 25 and 26 January. After arriving in Jeddah earlier today, President Meloni greeted the crew aboard the Amerigo Vespucci, the Italian Navy’s historical training ship which set sail from Genoa on 1 July 2023 for a tour around the world, stopping at 35 ports in 5 continents.

    MIL OSI Europe News –

  • MIL-OSI New Zealand: State Highway 2 closed, Takapau

    Source: New Zealand Police (District News)

    State Highway 2 is currently closed north of Takapau following a crash.

    The two-vehicle crash was reported to Police at around 8:10am.

    Initial indications are that there are serious injuries.

    Motorists are advised to avoid the area and expect delays.

    Detours are in place.

    ENDS

    Issued by Police Media Centre

    MIL OSI New Zealand News –

  • MIL-OSI Security: Secretary Hegseth’s Message to the Force

    Source: United States INDO PACIFIC COMMAND

    It is the privilege of a lifetime to lead the warriors of the Department of Defense, under the leadership of our Commander in Chief Donald J. Trump. We will put America First, and we will never back down.

    The President gave us a clear mission: achieve Peace through Strength. We will do this in three ways — by restoring the warrior ethos, rebuilding our military, and reestablishing deterrence.

    o We will revive the warrior ethos and restore trust in our military. We are American warriors. We will defend our country. Our standards will be high, uncompromising, and clear. The strength of our military is our unity and our shared purpose.

    o We will rebuild our military by matching threats to capabilities. This means reviving our defense industrial base, reforming our acquisition process, passing a financial audit, and rapidly fielding emerging technologies. We will remain the strongest and most lethal force in the world.

    o We will reestablish deterrence by defending our homeland — on the ground and in the sky. We will work with allies and partners to deter aggression in the Indo-Pacific by Communist China, as well as supporting the President’s priority to end wars responsibly and reorient to key threats. We will stand by our allies — and our enemies are on notice.

    All of this will be done with a focus on lethality, meritocracy, accountability, standards, and readiness.

    I have committed my life to warfighters and their families. Just as my fellow soldiers had my back on the battlefield, know that I will always have your back. We serve together at a dangerous time. Our enemies will neither rest nor relent. And neither will we. We will stand shoulder to shoulder to meet the urgency of this moment.

    Like each of you, I love my country and swore an oath to defend the Constitution. We will do that each and every day, as one team. Together we will accomplish the President’s mission to deter war, and if necessary, defeat and destroy our enemies. Godspeed!

    MIL Security OSI –

  • MIL-OSI USA: Fact Sheet: President Donald J. Trump Enforces Overwhelmingly Popular Demand to Stop Taxpayer Funding of Abortion

    US Senate News:

    Source: The White House
    ENFORCING THE HYDE AMENDMENT: On Friday, President Donald J. Trump signed an Executive Order to end the use of Federal taxpayer dollars to fund or promote elective abortion.
    The Order recognizes that, for nearly five decades, Congress has enacted the Hyde Amendment and a series of additional laws to protect taxpayers from being forced to pay for abortion. Contrary to this longstanding commonsense policy, the previous administration embedded federal funding of elective abortion in a wide variety of government programs.
    To restore this longstanding policy, the Order rescinds two executive orders from President Biden that violate the Hyde Amendment:
    Executive Order 14076 imposed a whole-of-government effort to promote and fund abortion and to politicize enforcement of the Freedom of Access to Clinic Entrances (FACE) Act.
    Federal statutes protecting access to emergency medical care for pregnant women under the Emergency Medical Treatment and Labor Act (EMTALA) and protecting personal health information under the Health Insurance Portability and Accountability Act (HIPAA) remain in full effect.

    Executive Order 14079 recategorized abortion as “healthcare” in order to provide taxpayer funding for elective abortions. This included using Medicaid funding to pay for travel costs for elective abortions.

    ENDING FEDERAL FUNDING OF ABORTION OVERSEAS: President Donald J. Trump also signed a Presidential Memorandum reinstating the Mexico City Policy to stop the use of federal taxpayer dollars for abortion overseas.
    The President’s policy from 2017 is reinstated to ensure that no U.S. taxpayer money supports foreign organizations that perform or actively promote abortion in other nations.
    The first Trump Administration also extended this policy to global health assistance. A 2020 report by the United States Agency for International Development found that this life-affirming policy in no way diminished women’s health around the world.
    PROTECTING TAXPAYERS FROM FUNDING ABORTION: For the first time in nearly fifty years, President Trump returned the issue of life to a vote of the people, from within the States.
    Dobbs v. Jackson Women’s Health Organization, 597 U.S. 215 (2022), overturned Roe v. Wade and returned the power to regulate issues of life and safety to the people. Three of the justices deciding the case were appointed by President Trump.
    Federal overreach and taxpayer dollars will no longer force violations of faith and conscience or impede the ability of states to determine life policies through a vote of the people.
    For example, under President Biden, the Department of Defense reimbursed abortion-related travel expenses, the Department of Veterans Affairs allowed hospitals to provide abortions, and the Department of Health and Human Services paid for abortions for illegal immigrants.

    PRESIDENT TRUMP PROMISED AND DELIVERED: President Trump promised to protect and defend a vote of the people, from within the states, on the issue of life. Today’s executive actions build on the long list of accomplishments from the first Trump Administration to support the sanctity of every human life and prevent taxpayer funding of abortion. Select highlights of the first Trump Administration’s work include:
    Reinstated and expanded the Mexico City Policy, ensuring that taxpayer money is not used to fund abortion globally.
    Issued a rule preventing Title X taxpayer funding from subsiding the abortion industry.
    Cut all funding to the United Nations Population Fund, which supports coercive abortion and forced sterilization.
    Signed legislation overturning the previous administration’s regulation that prohibited states from defunding abortion facilities as part of their family planning programs.
    Fully enforced the separate payment requirement for abortion coverage in Obamacare exchange plans.
    Stopped the Federal funding of fetal tissue research.
    Worked to protect healthcare entities and individuals’ conscience rights, ensuring that no medical professional is forced to participate in an abortion in violation of their beliefs.
    Issued an executive order reinforcing the requirement that all hospitals in the United States provide medical treatment or an emergency transfer for infants who are in need of emergency medical care—regardless of prematurity or disability.
    Led a coalition of countries to sign the Geneva Consensus Declaration, declaring that there is no international right to abortion and committing to protecting women’s health.
    First president in history to attend the March for Life.

    MIL OSI USA News –

  • MIL-OSI USA: Republican Governors Association Congratulates Secretary of Homeland Security, Kristi Noem

    Source: US Republican Governors Association

    The following text contains opinion that is not, or not necessarily, that of MIL-OSI –

    WASHINGTON, D.C. –Republican Governors Association Chair Georgia Governor Brian Kemp issued the following statement after Kristi Noem was confirmed by the U.S. Senate to serve as the Secretary of Homeland Security:  

    “Congratulations to Homeland Security Secretary Kristi Noem on her confirmation. As governor, Secretary Noem showed a deep commitment to ensure the safety and security of the American people by working to protect our borders, and her leadership at the Department of Homeland Security comes at a critical time.  

     “Republican governors stand with President Trump and Secretary Noem, and we look forward to working together to ensure our borders are secure, our national security is prioritized, and families are safe.

    MIL OSI USA News –