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Category: MIL-OSI

  • MIL-OSI: Music Licensing, Inc. (OTC: SONG) Receives Royalty Payment for Ownership Stake in Listerine Antiseptic

    Source: GlobeNewswire (MIL-OSI)

    Naples, FL, Sept. 20, 2024 (GLOBE NEWSWIRE) — Music Licensing, Inc. (OTC: SONG), a diversified holding company, is pleased to announce the receipt of a royalty payment derived from its ownership stake in Listerine® Antiseptic (Mouthwash), a globally recognized brand in oral hygiene.

    As part of its strategic portfolio, Music Licensing, Inc. holds a valuable interest in the Listerine® brand, which continues to perform exceptionally well in the marketplace. The latest royalty payment reflects the company’s ongoing commitment to maximizing shareholder value through diversified asset holdings, including high-profile consumer goods.

    “We are proud of the steady revenue stream generated from our stake in Listerine® Antiseptic,” said Jake P. Noch, CEO of Music Licensing, Inc. “This payment not only highlights the strength and reliability of our diverse portfolio but also underscores our ability to create sustainable, long-term value for our shareholders.”

    Music Licensing, Inc. continues to pursue strategic investments in both the entertainment and consumer goods sectors, further reinforcing its position as a leader in intellectual property and royalty-based assets.

    About Music Licensing, Inc. (OTC: SONG) (ProMusicRights.com) 

    Music Licensing, Inc. (OTC: SONG), also known as Pro Music Rights, is a diversified holding company and the fifth public performance rights organization (PRO) formed in the United States. Its licensees include notable companies such as TikTok, iHeart Media, Triller, Napster, 7Digital, Vevo, and many others. Pro Music Rights holds an estimated market share of 7.4% in the United States, representing over 2,500,000 works by notable artists such as A$AP Rocky, Wiz Khalifa, Pharrell, Young Jeezy, Juelz Santana, Lil Yachty, MoneyBagg Yo, Larry June, Trae Pound, Sauce Walka, Trae Tha Truth, Sosamann, Soulja Boy, Lex Luger, Trauma Tone, Lud Foe, SlowBucks, Gunplay, OG Maco, Rich The Kid, Fat Trel, Young Scooter, Nipsey Hussle, Famous Dex, Boosie Badazz, Shy Glizzy, 2 Chainz, Migos, Gucci Mane, Young Dolph, Trinidad James, Chingy, Lil Gnar, 3OhBlack, Curren$y, Fall Out Boy, Money Man, Dej Loaf, Lil Uzi Vert, and countless others, as well as artificial intelligence (A.I.) created music.

    Additionally, Music Licensing, Inc. (OTC: SONG) owns royalty stakes in Listerine “Mouthwash” Antiseptic and musical works by artists such as The Weeknd, Justin Bieber, Kanye West, Elton John, Mike Posner, blackbear, Lil Nas X, Lil Yachty, DaBaby, Stunna 4 Vegas, Miley Cyrus, Lil Wayne, XXXTentacion, Jeremih, Ty Dolla $ign, Eric Bellinger, Ne-Yo, MoneyBagg Yo, Halsey, Desiigner, DaniLeigh, Rihanna, and numerous others.

    Forward-Looking Statements:

    This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that, all forward-looking statements involve risks and uncertainties, including without limitation, the ability of Music Licensing, Inc. & Pro Music Rights, Inc. to accomplish its stated plan of business. Music Licensing, Inc. & Pro Music Rights, Inc. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by Pro Music Rights, Inc., Music Licensing, Inc., or any other person.

    Non-Legal Advice Disclosure:

    This press release does not constitute legal advice, and readers are advised to seek legal counsel for any legal matters or questions related to the content herein.

    Non-Investment Advice Disclosure:

    This communication is intended solely for informational purposes and does not in any way imply or constitute a recommendation or solicitation for the purchase or sale of any securities, commodities, bonds, options, derivatives, or any other investment products. Any decisions related to investments should be made after thorough research and consultation with a qualified financial advisor or professional. We assume no liability for any actions taken or not taken based on the information provided in this communication

    Contact: investors@ProMusicRights.com

    SOURCE: Music Licensing, Inc

    The MIL Network –

  • MIL-OSI: Half-year report

    Source: GlobeNewswire (MIL-OSI)

    Half-Year Report

    Oxford Technology 2 VCT plc (the “Company”)

    Legal Entity Identifier: 2138002COY2EXJDHWB30

    Unaudited Half Year Report to 31 August 2024

    The unaudited NAV per share for each of the classes are reported below:

    Unaudited NAV p per share 31/08/24 Audited NAV p per share 29/02/24 Change in NAV % Cumulative Dividends p per share to 31/08/24 Total Return p per share Shares in Issue Share Class
    OT1 46.8p 39.7p 18%  55.0 101.8p 5,431,655
    OT2 18.9p 20.4p -7%  22.5 41.4p 5,331,889
    OT3 22.9p 22.4p 2%  42.0 64.9p 6,254,596
    OT4 21.2p 25.3p -16%  48.0 69.2p 10,826,748

    The Directors are pleased to attach the Company’s unaudited Half Year Report to 31 August 2024.

    The associated PDF document can be downloaded by clicking the following link 

    OT2 VCT Plc 2024 2025 Half Year Report FINAL

    or the attachment shown at the bottom of the email.

    The Unaudited Half Year Report may also be downloaded from the Company’s website at www.oxfordtechnologyvct.com.

    At 31 August 2024, the Company’s issued share capital by Share Class is shown in the table above. The Company holds no shares in treasury and the total voting rights in the Company are 27,844,888. This figure of 27,844,888 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.

    This announcement contains inside information as stipulated under the UK version of the Market Abuse Regulation No 596/2014 which is part of English Law by virtue of the European (Withdrawal) Act 2018, as amended. Upon the publication of this announcement via a Regulatory Information Service, this information is now considered to be in the public domain.

    For further details about the Company please either visit the Company’s website:

    Oxford Technology 2 VCT plc www.oxfordtechnologyvct.com.

    or contact:

    Lucius Cary

    01865784466

    Attachment

    The MIL Network –

  • MIL-OSI Security: Notorious Mexican Cartel Leader Convicted for International Drug Trafficking and Firearms Offenses

    Source: United States Department of Justice Criminal Division

    A federal jury convicted Ruben Oseguera-Gonzalez, also known as El Menchito, today of conspiring to distribute five kilograms or more of cocaine and 500 grams or more of methamphetamine while knowing and intending that they would be imported into the United States, and using, carrying, and brandishing firearms, including destructive devices, in furtherance of the drug trafficking conspiracy, following a two-week jury trial in U.S. District Court for the District of Columbia.

    According to court documents and evidence presented at trial, between 2007 and 2017, Oseguera-Gonzalez, 34, led an international drug trafficking organization responsible for importing large quantities of methamphetamine and cocaine from Mexico into the United States. Oseguera-Gonzalez was the second in command of the Cartel de Jalisco Nueva Generación (CJNG), which is based in the State of Jalisco in Mexico. The CJNG is one of the most dangerous drug cartels in Mexico. Oseguera-Gonzalez personally used firearms, destructive devices, murder, and kidnapping to control the drug trafficking organization. Oseguera-Gonzalez also ordered his subordinates to shoot down a Mexican military helicopter so that he could escape capture by Mexican law enforcement.

    “El Menchito led the Jalisco Cartel’s efforts to use murder, kidnapping, and torture to build the Cartel into a self-described ‘empire’ by manufacturing fentanyl and flooding the United States with massive quantities of lethal drugs. Today, fentanyl is the deadliest drug threat the United States has ever faced,” said Attorney General Merrick B. Garland. “El Menchito now joins the growing list of high-ranking Cartel leaders that the Justice Department has convicted in an American courtroom. We are grateful to our Mexican law enforcement partners for their extensive cooperation and sacrifice in holding accountable leaders of the Jalisco Cartel.”

    “Ruben Oseguera-Gonzalez pioneered the manufacturing of fentanyl in Mexico to help build his father’s Jalisco Cartel into one of the world’s most powerful drug syndicates. His crimes caused horrific violence and death in the United States, Mexico, and around the globe,” said Deputy Attorney General Lisa Monaco. “Today’s guilty verdict demonstrates that our prosecutors and agents, working with our Mexican law enforcement partners, will relentlessly pursue justice against the leaders of the drug trafficking organizations who destroy lives and poison our communities.”

    “As second-in-command of CJNG, Ruben Oseguera-Gonzalez used extreme violence to traffic massive amounts of methamphetamine and cocaine into the United States,” said Principal Deputy Assistant Attorney General Nicole M. Argentieri, head of the Justice Department’s Criminal Division. “His conviction underscores the Criminal Division’s commitment to disrupting and dismantling organizations that manufacture and distribute deadly drugs into our communities. Today’s verdict also sends a powerful message to the cartel leadership: we will work with our domestic and international law enforcement partners to find you and bring you to justice. We are especially grateful to the Mexican authorities for their substantial assistance in this case.”

    “Today’s guilty verdict sends a clear message that the DEA will stop at nothing to investigate and dismantle criminal drug networks that threaten the safety and health of the American people,” said Administrator Anne Milgram of the Drug Enforcement Administration (DEA). “As one of the highest-ranking members of the Jalisco Cartel, Oseguera-Gonzalez was responsible for pushing vast quantities of cocaine, methamphetamine, and fentanyl into the United States while engaging in violence, kidnapping, and bribery to build and protect the Jalisco Cartel. I commend the men and women of the DEA Los Angeles Field Division for their outstanding work on this case.”

    According to the evidence presented at trial, from 2012 to 2015, Oseguera-Gonzalez oversaw the manufacture of more than three million pounds of methamphetamine in one area of Mexico. In April 2015, Oseguera-Gonzalez personally directed the distribution of over 55,000 pounds of cocaine. According to trial testimony, in October 2013, Oseguera-Gonzalez made plans to “do it big” with counterfeit oxycontin pills—just before the fentanyl epidemic began in the United States. According to witness testimony, the defendant said in 2015 that he was “building an empire with . . . fentanyl.” Oseguera-Gonzalez was arrested by Mexican authorities on local charges in June 2015. He remained detained in Mexico until his extradition to the United States in February 2020. While in prison in Mexico, Oseguera-Gonzalez continued to control the CJNG, negotiating drug transactions and approving the purchase of firearms and destructive devices, including .50 caliber firearms and 40 mm grenades.

    Oseguera-Gonzalez personally used extreme violence to grow and control the cartel. For example, when five men owed Oseguera-Gonzalez money for drugs in the United States, Oseguera-Gonzalez violently killed all five men. On another occasion, the defendant shot one of his drivers in the head a close range. In an intercepted message, Oseguera-Gonzalez also described having 13 people tied up—one of whom he decided to release only after the man agreed to make fentanyl pills for Oseguera-Gonzalez.

    Oseguera-Gonzalez also amassed an arsenal of weapons. His hitmen, which he called the Special Forces of the High Command, used the weapons to protect him and help him escape capture by Mexican authorities. For example, on May 1, 2015, the defendant’s hitmen—acting on Oseguera-Gonzalez’s personal orders—shot down a Mexican armed forces helicopter while 18 soldiers and police were on board. At least nine people on board the helicopter died as a result of Oseguera-Gonzalez’s order. Oseguera-Gonzalez’s men used an Iranian-made rocket-propelled grenade and a .50 caliber belt-fed firearm to shoot down the helicopter. Both weapons were painted with “CJNG” and a pixel camouflage pattern unique to Oseguera-Gonzalez’s hitmen.

    Less than two months after escaping capture, Oseguera-Gonzalez was arrested in Jalisco, Mexico. When he was surrounded by soldiers and police, he brandished an assault weapon and grenade launcher, demanding to be released because he was a member of the CJNG. The weapon Oseguera-Gonzalez used to threaten police bore the same pixel camouflage pattern and was emblazoned with CJNG and Oseguera-Gonzalez’s nicknames: Menchito, 02, and Jr.

    Oseguera-Gonzalez faces a mandatory minimum penalty of 40 years in prison and a statutory maximum penalty of life plus 30 years in prison. A sentencing hearing is scheduled for Jan. 10, 2025. A federal district court judge will determine the sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    The DEA Los Angeles Field Division investigated the case with the assistance of the U.S. Marshals Service. The Justice Department’s Office of International Affairs provided critical assistance in securing the extradition of Oseguera-Gonzalez and in obtaining important evidence for the trial. The Criminal Division’s Office of Enforcement Operations provided significant assistance. The Justice Department thanks Mexican authorities for their assistance in securing the extradition of Oseguera-Gonzalez and in securing evidence and testimony presented in court.

    Acting Deputy Chief Kaitlin Sahni and Trial Attorneys Kate Naseef, Jonathan R. Hornok, and Lernik Begian of the Criminal Division’s Narcotic and Dangerous Drug Section are prosecuting the case.

    This effort is part of an Organized Crime Drug Enforcement Task Forces (OCDETF) operation. OCDETF identifies, disrupts, and dismantles the highest-level criminal organizations that threaten the United States using a prosecutor-led, intelligence-driven, multi-agency approach. Additional information about the OCDETF Program can be found at www.justice.gov/OCDETF.

    MIL Security OSI –

  • MIL-OSI: DIAGNOS Announces Closing of Private Placement

    Source: GlobeNewswire (MIL-OSI)

    BROSSARD, Quebec, Sept. 20, 2024 (GLOBE NEWSWIRE) — DIAGNOS Inc. (“DIAGNOS” or the “Corporation”) (TSX Venture: ADK) (OTCQB: DGNOF), a pioneer in early detection of critical health issues through the use of Artificial Intelligence (AI) technologies, announces the closing, today, of a non-brokered private placement of 8,333,333 units (each a “Unit”) issued at a price of $0.30 per Unit, for gross proceeds of $2,499,999.90 (“Private Placement”).

    Each Unit consists of:

    • One (1) common share (“Share”), and
    • One (1) common share warrant (“Warrant”).

    As part of the closing of the Private Placement, 8,333,333 Warrants have been issued to the subscribers. Each Warrant can be exercised to purchase one Share at a price of $0.40 per Share for a period of 18 months ending March 20, 2026.

    The net proceeds from the Private Placement will be used to fund product development and commercialization of AI-based screening services as well as general and administrative operations.

    All securities issued as part of the Private Placement are subject to a statutory hold period ending January 21, 2025.

    The closing of the Private Placement remains subject to receipt of all required approvals, including the approval of the TSX Venture Exchange, as well as execution of formal documentation.

    DIAGNOS would like to express its gratitude to the family office that participated in the Private Placement.

    DIAGNOS is also providing the following clarification: First paragraph of Section 6 of the 2024 management information circular, dated August 21, 2024, should read:

    “The Board of the Corporation has set August 21, 2024 (the “Record Date”) as the record date for the determination of the registered holders of voting shares entitled to receive notice of the Meeting. All holders of common shares (each, a “Common Share”) as of the Record Date are entitled to attend and vote thereat in person or by proxy. As at August 21, 2024, 81,435,607 Common Shares of the Corporation were issued and outstanding. The Common Shares are the only securities outstanding and entitled to be voted at the Meeting. Each Common Share entitles the holder thereof to one vote.”

    All monies quoted in this press release shall be stated and paid in lawful money of Canada.

    About DIAGNOS
    DIAGNOS is a publicly traded Canadian corporation dedicated to early detection of critical health problems based on its FLAIRE Artificial Intelligence (AI) platform. FLAIRE allows for quick modifying and developing of applications such as CARA (Computer Assisted Retina Analysis). CARA’s image enhancement algorithms provide sharper, clearer and easier-to-analyze retinal images. CARA is a cost-effective tool for real-time screening of large volumes of patients.

    Additional information is available at www.diagnos.ca and www.sedarplus.com. 

    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 press release contains forward-looking information. We cannot guarantee that the forward-looking information mentioned will prove to be accurate, as there may be a significant discrepancy between actual results or future events and those mentioned in this statement. DIAGNOS disclaims any intention or obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise. The forward-looking information contained in this press release is expressly covered by this caution.

    The MIL Network –

  • MIL-OSI: Longevity Biomedical, Inc. and FutureTech II Acquisition Corp. Announce Business Combination to Create Nasdaq-Listed Biopharmaceutical Company Focused on Advancing New Technologies to Promote Human Health and Longevity

    Source: GlobeNewswire (MIL-OSI)

      – Longevity Biomedical, Inc. is focused on developing and acquiring new technologies spanning therapeutics, health monitoring and digital health solutions to become a leading provider of longevity-related products and services designed to increase the health span for the rapidly growing global aging population.
         
      – Late-stage, diversified pipeline of therapeutic candidates across ophthalmology, cardiovascular disease and soft tissue reconstruction and repair.
         
      – Near-term clinical milestones include Phase 3 start for LBI-201 for Ischemic stroke, Phase 2 data for LBI-101 for soft-tissue reconstruction, and Phase 2 start for LBI-001 in retinal vein occlusion.
         
      – Seasoned management team of medtech and biopharmaceutical veterans with track record of acquiring, developing, and commercializing novel technologies.
         
      – Post-combination company to list on Nasdaq under ticker symbol “LBIO.”
         
      – Business combination expected to close in Q4 2024.
         

    New York, Sept. 20, 2024 (GLOBE NEWSWIRE) — Longevity Biomedical, Inc. (“Longevity” or “Longevity Biomedical”), a biopharmaceutical company focused on advancing new technologies across therapeutics, health monitoring, and digital health solutions to increase human health span, and FutureTech II Acquisition Corp. (“FutureTech”) (NASDAQ: FTII), a publicly traded special purpose acquisition company (“SPAC”), announced today that they have entered into a definitive business combination agreement (the “BCA”) on September 16, 2024. Upon the closing of the transaction pursuant to the BCA, the combined company (the “Combined Company”) will operate as Longevity Biomedical, Inc. and is expected to list on Nasdaq under the ticker symbol “LBIO.”

    Despite the rapid pace of the global population aging, Longevity Biomedical believes the current market for longevity-related products and services is fragmented and that, particularly as it relates to low- and middle-income countries, it is difficult for healthcare consumers to find and purchase the products, technologies and services to address their individual aging needs. To address this unmet need, Longevity Biomedical aims to become a consolidator and leading provider of advanced therapeutic, health monitoring and digital health technologies designed to restore tissue form and function and increase health span for the rapidly growing aging population. To achieve this goal, Longevity intends to build on its existing platform of diversified, late-stage technologies by leveraging its seasoned executive team to continue acquiring first-in-class technologies, products and services that address the growing market of age-related diseases and conditions. Longevity has established an existing pipeline of late-stage, diversified therapeutic candidates addressing cardiovascular disease, ophthalmology and soft tissue reconstruction and repair through the proposed acquisitions of the following technologies:

      – LBI-201 is a non-invasive ultrasonic device being investigated for treatment of ischemic stroke, the second leading cause of death worldwide. It is designed for rapid, convenient delivery of transcranial ultrasound in combination with conventional thrombolytic drug therapy to increase restoration of blood flow in stroke patients with large vessel occlusions that do not have immediate access to thrombectomy facilities and services. Previous clinical studies have demonstrated a nearly two-fold increase in complete vessel recanalization compared to thrombolytic drug therapy alone.
         
      – LBI-001 combines intravenous administration of microspheres with non-invasive ultrasound as a potential treatment of retinal vein occlusion, one of the most common causes of retinal blindness worldwide. LBI-001 Phase 1 clinical results provided favorable safety data and demonstrated improvements in key visual measurements.
         
      – LBI-101 is an off-the-shelf allogenic tissue biomaterial that has completed enrollment in a Phase 2 clinical study for permanent reconstruction of soft tissue affected by aging, traumatic injuries, and surgical procedures. The injectable application is designed to stimulate tissue repair and regeneration. Clinical studies of LBI-101 have demonstrated initial safety, biocompatibility, and new tissue formation without scarring typically associated with injections.
         

    In addition to these clinical stage technologies, Longevity will have, upon the closing of the transactions contemplated by the C&E Agreements {described below}, a pipeline of preclinical stage indications across its initial therapeutic areas of focus. Longevity also plans to seek to acquire additional cutting-edge health technologies in the areas of health monitoring and digital health solutions.

    “Longevity Biomedical is dedicated to advancing science-driven solutions to improve human health. This business combination will provide the platform to advance cutting-edge technologies spanning multiple areas of unmet medical need for the aging population,” said Bradford A. Zakes, Chief Executive Officer of Longevity Biomedical. “The proceeds from this transaction will allow Longevity to reach significant clinical development milestones for our leading technologies that have demonstrated successful results in clinical studies. In addition, Longevity will retain an opportunistic, visionary approach to future health advancements in the areas of health monitoring and digital health solutions.”

    “Longevity is known for developing therapeutic solutions and digital health technologies that are focused on addressing unmet medical needs particularly focused on the aging population,” said Mr. Ray Chen, Chief Executive Officer of FutureTech. “FutureTech is excited to partner with Longevity’s experienced leadership team to accelerate its clinical development pipeline to expand its impact in the healthcare industry.”

    Transaction Overview

    The estimated cash proceeds available to the Combined Company from the transaction consists of FutureTech’s $26.8 million of cash held in trust. The proceeds will be used to achieve key development milestones related to Longevity’s clinical stage assets.

    The Combined Company may seek a pre-transaction PIPE that is expected to close concurrently with the closing of the transaction.

    Longevity has entered into Contribution and Exchange Agreements (collectively and as amended, the “C&E Agreements”) with each of Cerevast Medical, Inc., a Delaware corporation, and Aegeria Soft Tissue, LLC, a Delaware limited liability company (collectively, the “Targets”), pursuant to which, immediately prior to the closing of the proposed transaction between Longevity and FutureTech under the BCA, Longevity will acquire all of the issued and outstanding equity securities of each of the Targets from the current equity holders in exchange for shares of common stock of Longevity. The Targets are developing the therapeutic candidates across ophthalmology, cardiovascular disease and soft tissue reconstruction and repair as described above. As a result of the transactions contemplated by the C&E Agreements, each of the Targets will be a wholly-owned, indirect subsidiary of the Combined Company upon the closing of the transactions contemplated by the BCA. 

    The existing stockholder of Longevity and the board of directors of each of FutureTech and Longevity unanimously approved the transaction, which is expected to close in Q4 2024. The transaction will require the approval of the stockholders of FutureTech and Longevity and is subject to other customary closing conditions including the receipt of certain SEC regulatory approvals.

    Additional information about the proposed transaction, including a copy of the BCA, will be provided in a Current Report on Form 8-K to be filed by FutureTech with the SEC and available at www.sec.gov.

    Advisors

    Moses & Singer LLP is acting as legal advisor to FutureTech. Nelson Mullins Riley & Scarborough LLP is acting as legal advisor to Longevity.

    About Longevity

    Longevity Biomedical is a biopharmaceutical company focused on advancing technologies across therapeutics, health monitoring and digital health solutions to restore tissue form and function in order to increase and improve health span. Longevity’s mission is to become a consolidator and a leading provider of products and services designed to help people live longer, healthier lives. Longevity is acquiring a differentiated therapeutic pipeline of late-stage clinical technologies across ophthalmology, cardiovascular disease and soft tissue reconstruction and repair. Building on this platform, Longevity intends to acquire and/or partner with other health technology companies to become a leading provider of products and services designed to increase and improve health span amongst the rapidly growing aging patient population. Longevity is led by a team of industry experts and scientific advisors with significant experience acquiring, developing and commercializing cutting-edge health technologies. Longevity is headquartered in Bothell, Washington.

    About FutureTech

    FutureTech Capital Acquisition Corp. is a blank check company incorporated as a Delaware corporation for the purpose of effecting a business combination, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities.

    Additional Information and Where to Find It

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the U.S. Securities Exchange Act of 1934 (“Exchange Act”) that are based on beliefs and assumptions and on information currently available to FutureTech and Longevity. In some cases, you can identify forward-looking statements by the following words: “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing,” “target,” “seek” or the negative or plural of these words, or other similar expressions that are predictions or indicate future events or prospects, although not all forward-looking statements contain these words. Any statements that refer to expectations, projections or other characterizations of future events or circumstances, including projections of market opportunity and market share, the capability of Longevity’s business plans and the Combined Company’s business plans including their plans to expand, the sources and uses of cash from the proposed transaction, the anticipated enterprise value of the Combined Company following the consummation of the proposed transaction, any benefits of Longevity’s partnerships, strategies or plans as they relate to the proposed transaction, anticipated benefits of the proposed transaction and expectations related to the terms and timing of the proposed transaction are also forward-looking statements. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by these forward-looking statements. Although each of FutureTech and Longevity believes that it has a reasonable basis for each forward-looking statement contained in this communication, each of FutureTech and Longevity caution you that these statements are based on a combination of facts and factors currently known and projections of the future, which are inherently uncertain. In addition, there will be risks and uncertainties described in the proxy statement/prospectus included in the registration statement on Form S-4 relating to the proposed transaction, which is expected to be filed by FutureTech with the SEC, and described in other documents filed by FutureTech or Longevity from time to time with the SEC. These filings may identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Neither FutureTech nor Longevity can assure you that the forward-looking statements in this communication will prove to be accurate. These forward-looking statements are subject to a number of risks and uncertainties, including, among others, the ability to complete the business combination due to the failure to obtain approval from FutureTech’s stockholders or satisfy other closing conditions in the BCA, the occurrence of any event that could give rise to the termination of the BCA, the ability to recognize the anticipated benefits of the business combination, the amount of redemption requests made by FutureTech’s public stockholders, costs related to the transaction, the risk that the transaction disrupts current plans and operations as a result of the announcement and consummation of the transaction, the outcome of any potential litigation, government or regulatory proceedings and other risks and uncertainties, including those to be included under the heading “Risk Factors” in the final prospectus for FutureTech’s initial public offering filed with the SEC on February 14, 2022 and in its subsequent quarterly reports on Form 10-Q and other filings with the SEC. There may be additional risks that neither FutureTech nor Longevity currently know or that FutureTech and Longevity currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by FutureTech, Longevity, their respective directors, officers or employees or any other person that FutureTech and Longevity will achieve their objectives and plans in any specified time frame, or at all. The forward-looking statements in this press release represent the views of FutureTech and Longevity as of the date of this communication. Subsequent events and developments may cause those views to change. However, while FutureTech and Longevity may update these forward-looking statements in the future, there is no current intention to do so, except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing the views of FutureTech or Longevity as of any date subsequent to the date of this communication.

    No Offer or Solicitation

    This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the potential transaction and does not constitute an offer to sell or a solicitation of an offer to buy any securities of FutureTech or Longevity, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act.

    Important Additional Information Regarding the Transaction Will Be Filed With the SEC

    In connection with the proposed business combination, a registration statement on Form S-4 is expected to be filed with the SEC containing a preliminary proxy statement and a preliminary prospectus, and after the registration statement is declared effective, FutureTech will mail a definitive proxy statement/prospectus relating to the proposed business combination to its stockholders and Longevity’s stockholders. This press release does not contain all the information that should be considered concerning the proposed business combination and is not intended to form the basis of any investment decision or any other decision in respect of the business combination. FutureTech’s stockholders and other interested persons are advised to read, when available, the preliminary proxy statement/prospectus and the amendments thereto and the definitive proxy statement/prospectus and other documents filed in connection with the proposed business combination, as these materials will contain important information about Longevity, FutureTech and the proposed business combination. When available, the definitive proxy statement/prospectus and other relevant materials for the proposed business combination will be mailed to stockholders of FutureTech as of a record date to be established for voting on the proposed business combination. Such stockholders will also be able to obtain copies of the preliminary proxy statement/prospectus, the definitive proxy statement/prospectus and other documents filed with the SEC, without charge, once available, at the SEC’s website at www.sec.gov, or by directing a request to FutureTech II Acquisition Corp., 128 Gail Drive, New Rochelle, New York 10085, telephone number (914) 316-4805, Attention: Ray Chen, President and Chief Executive Officer.

    Participants in the Solicitation

    FutureTech and Longevity and their respective directors, executive officers, other members of management, and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies of FutureTech’s stockholders in connection with the proposed transaction. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of FutureTech’s stockholders in connection with the proposed business combination will be set forth in a registration statement on Form S-4, including a proxy statement/prospectus, when it is filed with the SEC.

    Investors and security holders may obtain more detailed information regarding the names and interests in the proposed transaction of FutureTech’s directors and officers in FutureTech’s filings with the SEC and such information will also be in the registration statement to be filed with the SEC, which will include the proxy statement/prospectus of FutureTech for the proposed transaction.

    For investor and media inquiries, please contact:

    Investor Relations
    Ying Shan
    FutureTech Capital LLC
    yingshan@futuretechcapitalllc.com

    Media Relations
    Rathbun Communications
    Julie Rathbun
    julie@rathbuncomm.com

    The MIL Network –

  • MIL-OSI: Discovery 2024 Short Duration LP Closing October 16, 2024 – Maximum $25,000,000

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Sept. 20, 2024 (GLOBE NEWSWIRE) — Middlefield, on behalf of Discovery 2024 Short Duration LP (“Discovery 2024” or the “Partnership”), is pleased to announce that it has filed a final prospectus relating to the initial public offering of Discovery 2024 Class A and Class F units. The offering is being made in each of the provinces of Canada. Closing is scheduled for October 16, 2024.

    The objectives of the Partnership are to provide investors with capital appreciation and significant tax benefits to enhance after-tax returns to limited partners, including the deductibility of 100% of their original investment. The Partnership intends to achieve these objectives by investing in an actively managed, diversified portfolio comprised primarily of equity securities of Canadian gold mining companies.

    Middlefield is a leading provider of flow-through share funds in Canada and has a strong track record of delivering positive after-tax returns. Since 1983, Middlefield has sponsored 69 public and private flow-through funds and has acted as agent or manager for over $2.5 billion of resource investments.

    The syndicate of agents for the offering is being co-led by RBC Capital Markets and CIBC Capital Markets and includes BMO Nesbitt Burns Inc., National Bank Financial Inc., Scotia Capital Inc., TD Securities Inc., Richardson Wealth Limited, Manulife Wealth Inc., iA Private Wealth Inc., Canaccord Genuity Corp., Raymond James Ltd., Ventum Financial Corp., and Wellington-Altus Private Wealth Inc.

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

    This offering is only made by prospectus. The prospectus contains important detailed information about the securities being offered. Copies of the prospectus may be obtained from your CIRO registered financial advisor using the contact information for such advisor. Investors should read the prospectus before making an investment decision.

    The MIL Network –

  • MIL-OSI: Agents World Closes Seed Round to Revolutionize Autonomous Worlds with AI Agents

    Source: GlobeNewswire (MIL-OSI)

    london, Sept. 20, 2024 (GLOBE NEWSWIRE) — Agents World, an innovative Web3 AI firm, today announced the successful completion of its seed funding round, supported by leading venture capital firms including Dispersion Capital, Maelstrom Capital, Node Capital, CatcherVC, Primal Capital, and Velocity Capital.

    This funding will accelerate the development of Agents World Studio, the company’s cutting-edge platform that enables developers to seamlessly build, deploy, and monetize AI agents on-chain. These intelligent agents are designed to function autonomously within a wide range of digital environments, such as Web3 gaming, DeFi, and decentralized physical infrastructure networks (DePIN), expanding the boundaries of what’s achievable in decentralized ecosystems.

    Agents World aims to be the leading platform for developers and businesses seeking to harness the power of AI agents in a decentralized world. For more information, visit agentsworld.xyz.

    Contact Information:

    Agents World Limited
    Email: media@agentsworld.xyz

    (This release contains forward-looking statements based on current expectations and assumptions. Actual results may vary.)

    The MIL Network –

  • MIL-OSI: Half-Year Financial Report as of 30 June 2024 available

    Source: GlobeNewswire (MIL-OSI)

    Amundi: Half-Year Financial Report as of 30 June 2024 available

    Paris, 20 September 2024 – Amundi announces the public release and the filing of its first-half 2024 Financial Report with the Autorités des Marchés Financiers (“AMF”).

    This 2024 Half-Year Financial Report is available on the website of Amundi (https://about.amundi.com/financial-information).

    About Amundi

    Amundi, the leading European asset manager, ranking among the top 10 global players1, offers its 100 million clients – retail, institutional and corporate – a complete range of savings and investment solutions in active and passive management, in traditional or real assets. This offering is enhanced with IT tools and services to cover the entire savings value chain. A subsidiary of the Crédit Agricole group and listed on the stock exchange, Amundi currently manages more than €2.15 trillion of assets2.

    With its six international investment hubs3, financial and extra-financial research capabilities and long-standing commitment to responsible investment, Amundi is a key player in the asset management landscape.

    Amundi clients benefit from the expertise and advice of 5,500 employees in 35 countries.

    Amundi, a trusted partner, working every day in the interest of its clients and society

    www.amundi.com   

    Press contacts:        
    Natacha Andermahr 
    Tel. +33 1 76 37 86 05
    natacha.andermahr@amundi.com 

    Corentin Henry
    Tel. +33 1 76 36 26 96
    corentin.henry@amundi.com

    Investor contacts:
    Cyril Meilland, CFA
    Tel. +33 1 76 32 62 67
    cyril.meilland@amundi.com 

    Thomas Lapeyre
    Tel. +33 1 76 33 70 54
    thomas.lapeyre@amundi.com 

    Annabelle Wiriath

    Tel. + 33 1 76 32 43 92

    annabelle.wiriath@amundi.com

    1Source: IPE “Top 500 Asset Managers” published in June 2024, based on assets under management as at 31/12/2023
    2Amundi data as at 30/06/2024
    3Boston, Dublin, London, Milan, Paris and Tokyo

    Attachment

    The MIL Network –

  • MIL-OSI: Portfolio Update

    Source: GlobeNewswire (MIL-OSI)

    Octopus AIM VCT plc
    Portfolio Update

    The investment portfolio of Octopus AIM VCT plc (the “Company”) as at 20 September 2024 is as follows (the valuations being the unaudited valuations, at bid price, as at 31 July 2024):

    Portfolio Company Sector Book cost (£’000) Movement in valuation (£’000) Fair Value
    (£’000)
    Breedon Group plc Construction & Building 859 5,316 6,175
    Hasgrove plc1 Unquoted Investment 88 5,666 5,754
    Judges Scientific plc Electronic & Electrical 256 3,737 3,993
    Learning Technologies Group plc Support Services 1,051 2,288 3,339
    Popsa Holdings Ltd1 Unquoted Investment 1,590 1,596 3,186
    Craneware plc Software & Computer Services 183 2,964 3,147
    Mattioli Woods plc Specialty & Other Finance 529 2,599 3,128
    Brooks Macdonald Group plc Specialty & Other Finance 746 2,287 3,033
    IDOX plc Software & Computer Services 353 2,622 2,975
    GB Group plc Software & Computer Services 505 2,360 2,865
    Netcall plc Telecommunication Services 308 2,445 2,753
    Intelligent Ultrasound Group plc Engineering & Machinery 2,156 49 2,205
    PCI-Pal plc Software & Computer Services 1,294 909 2,203
    Equipmake Holdings plc Electronic & Electrical 2,121 41 2,162
    Beeks Financial Cloud Group plc Software & Computer Services 450 1,676 2,126
    Vertu Motors plc General Retailers 1,265 639 1,904
    Next Fifteen Communications Group plc Media & Entertainment 453 1,402 1,855
    Maxcyte Inc Pharmaceuticals & Biotech 1,035 694 1,729
    Diaceutics plc Pharmaceuticals & Biotech 930 648 1,578
    Animalcare Group plc Food Producers & Processors 306 1,224 1,530
    SDI Group plc Electronic & Electrical 179.00 1,249 1,428
    Pulsar Group plc Software & Computer Services 678 515 1,193
    EKF Diagnostics Holdings plc Health 767 413 1,180
    Abingdon Health plc Medical Equipment and Services 1,615 (467) 1,148
    GENinCode plc Medical Equipment and Services 2,001 (876) 1,125
    Gamma Communications plc Telecommunication Services 274 789 1,063
    Itaconix plc Industrial 1,588 (529) 1,059
    Eden Research plc Industrial 1,620 (573) 1,047
    Sosandar plc General Retailers 1,853 (806) 1,047
    Verici Dx plc Pharmaceuticals & Biotech 1,551 (587) 964
    Nexteq plc Technology Hardware 507 429 936
    Strip Tinning Holdings plc Loan Notes Electronic & Electrical 900 – 900
    Cambridge Cognition Holdings plc Health 1,075 (216) 859
    Haydale Graphene Industries plc Chemicals 1,857 (1,025) 832
    Gear4music Holdings plc General Retailers 529 148 677
    TPXimpact Holdings plc Support Services 979 (317) 662
    Oberon Investments Group plc Investment Banking & Brokerage Services 864 (220) 644
    Cranswick plc Food Producers & Processors 606 37 643
    Ricardo Construction & Building 602 33 635
    Wise Industrial 606 7 613
    Feedback plc Software & Computer Services 1,500 (896) 604
    GSK plc Pharmaceuticals & Biotech 603 (32) 571
    Ilika Electronic & Electrical 1,058 (509) 549
    DP Poland plc Leisure & Hotels 1,016 (519) 497
    Restore plc Support Services 256 233 489
    Gooch & Housego plc Electronic & Electrical 422 60 482
    RWS Holdings plc Support Services 143 316 459
    MyCelx Technologies Corporation Oil Services 1,470 (1,014) 456
    Bytes Technology Group plc Software & Computer Services 489 (42) 447
    Mears Group plc Support Services 139 304 443
    Advanced Medical Solutions Group plc Health 284 148 432
    Velocity Composites plc Engineering & Machinery 799 (404) 395
    Creo Medical Group plc Pharmaceuticals & Biotech 1,471 (1,118) 353
    Northcoders Group plc Software & Computer Services 380 (63) 317
    Alusid Limited1 Unquoted Investment 300 – 300
    Crimson Tide plc Software & Computer Services 567 (283) 284
    JTC plc Investment Banking & Brokerage Services 248 36 284
    Ixico plc Health 1,046 (794) 252
    Rosslyn Data Technologies plc Software & Computer Services 969 (759) 210
    Tan Delta Systems plc Electronic & Electrical 453 (252) 201
    Libertine holdings plc Industrial Engineering 3,000 (2,805) 195
    Gelion plc Electronic & Electrical 1,140 (951) 189
    Rosslyn Data Technologies plc (convertible loan) Software & Computer Services 180 – 180
    ENGAGE XR Holdings Software & Computer Services 1,879 (1,709) 170
    KRM22 plc Software & Computer Services 681 (511) 170
    LungLife AI Inc Pharmaceuticals & Biotech 2,079 (1,925) 154
    Staffline Group plc Industrial Support Services 334 (192) 142
    Strip Tinning Holdings plc Electronic & Electrical 506 (397) 109
    XP Factory plc Leisure & Hotels 988 (882) 106
    TheraCryf plc Pharmaceuticals, Biotechnology and Marijuana Producers 1,050 (952) 98
    Enteq technologies plc Oil Services 1,032 (960) 72
    1Spatial plc Support Services 300 (235) 65
    DXS International plc Software & Computer Services 300 (255) 45
    Fusion Antibodies plc Pharmaceuticals & Biotech 745 (717) 28
    Tasty plc Leisure & Hotels 516 (498) 18
    Genedrive Plc Pharmaceuticals & Biotech 217 (206) 11
    Trackwise Designs plc Electronic & Electrical 1,934 (1,934) –
    Cloudified Holdings Limited Software & Computer Services 900 (900) –
    Airnow plc1 Unquoted Investment 1,257 (1,257) –
    Microsaic Systems plc Engineering & Machinery 1,384 (1,384) –
    Rated People Ltd1 Unquoted Investment 354 (354) –
    ReNeuron Group plc Pharmaceuticals & Biotech 1,485 (1,485) –
    Sorted Group Holdings Plc Software & Computer Services 763 (763) –
    The British Honey Company plc General Retailers 1,321 (1,321) –
    The Food Marketplace Ltd1 Retailers 300 (300) –
    Eluceda Limited1 Pharmaceuticals & Biotech 300 (300) –

    Since 31 July 2024 Octopus AIM VCT plc has made £1.2 million investments and £0.1 million disposals. 

    Unless otherwise stated, all the investments set out above: 

    – are not quoted on regulated markets; 
    – represent equity investments except in the case of Osirium which include investment through loan stock; and 
    – are in portfolio companies incorporated in the UK with the exception of: 

    Cloudified Holdings Limited – British Virgin Islands 
    ENGAGE XR Holdings plc – Republic of Ireland 
    JTC plc – Jersey 
    LungLife AI Inc – USA
    MyCelx Technologies Corporation – USA 
    Breedon Group plc – Jersey 
    MaxCyte Inc – USA 

    1 Denotes unlisted company 

    Current Asset Investments (unaudited) 

    Portfolio Company  Book cost (£’000) Fair Value (£’000)
    FP Octopus Microcap Growth Fund  7,518 9,233
    FP Octopus Multi Cap Income Fund  4,051 5,027
    FP Octopus Future Generations Fund  1,878 1,907
    JPMorgan Sterling Liquidity Fund  9,000 9,000
    BlackRock ICS Sterling Liquidity Fund   9,046 9,046
    HSBC Sterling Liquidity Fund  9,040 9,040

    Since 31 July 2024 there has been no investments or disposals from the current asset investments. 

    The capitalisation of Octopus AIM VCT plc as at 31 July 2024 was as follows:  

    Shareholders’ Equity    £’000s
    Called up Equity Share Capital  2,018
    Legal reserves  18,065
    Other reserves  96,300
    Total   116,383

    There has been no material change to the capitalisation since 31 July 2024. 

    For further information please contact:

    Rachel Peat
    Octopus Company Secretarial Services Limited
    Tel: +44 (0)80 0316 2067
    LEI: 213800C5JHJUQLAFP619

    The MIL Network –

  • MIL-OSI: SoFi Announces Reverse Stock Split for SoFi Select 500 ETF (SFY)

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Sept. 20, 2024 (GLOBE NEWSWIRE) — The Board of Trustees of Tidal ETF Trust (the “Trust”) has approved a reverse stock split of the issued and outstanding shares of the SoFi Select 500 ETF (NYSE Arca: SFY) (the “Fund”). The reverse split will take effect after the close of trading on the NYSE Arca, Inc. (the “Exchange”) on October 1, 2024.

    Following the reverse stock split, every five shares of the Fund will be consolidated into one share, effectively decreasing the total number of issued and outstanding shares by approximately 80%. The per-share net asset value (NAV) and the opening market price will increase proportionally by five times on the following trading day.

    Details of the Reverse Stock Split:

    • Reverse Split Ratio: 1:5
    • Approximate Decrease in Total Outstanding Shares: 80%

    Additionally, the Fund’s CUSIP number will change as follows, effective after the close of the market on the Effective Date:

    Old CUSIP New CUSIP
    886364207 886364173

    Impact on Shareholders

    The reverse stock split will not alter the overall value of a shareholder’s investment. The value of an investor’s holdings in the Fund remains unchanged, even though the number of shares will decrease, and the per-share price will increase:

    Shares of the Fund will begin trading on a split-adjusted basis on the Exchange on October 2, 2024.

    Redemption of Fractional Shares and Tax Implications

    In cases where shareholders hold fractional shares following the reverse split, the Fund will redeem those fractional shares for cash at the Fund’s split-adjusted NAV on the Effective Date. This redemption could result in tax consequences, with shareholders potentially recognizing gains or losses based on the redemption of fractional shares. However, apart from this, the reverse split will not be a taxable event for shareholders, and no transaction fees will be charged for the redemption of fractional shares.

    About Tidal Financial Group

    Formed by ETF industry pioneers and thought leaders, Tidal Financial Group set out to revolutionize the way ETFs have historically been developed, launched, managed, marketed, and sold. With a focus on growing AUM, Tidal offers a comprehensive suite of services, proprietary tools, and methodologies designed to bring clients ideas to market. Tidal is an advocate for ETF innovation and is on a mission to provide issuers with the intelligence and tools needed to effectively launch ETFs and optimize growth potential in a highly competitive space. As of September 1, 2024, Tidal managed 172 funds with over $19 billion in AUM.

    For more information, visit Tidal Financial Group.

    About SoFi

    SoFi’s mission is to empower individuals to achieve financial independence and fulfill their ambitions. Financial independence isn’t just about being wealthy; it’s about having your money work for the life you want to live. Everything SoFi does is focused on helping people take control of their finances. SoFi is always innovating and creating solutions that provide the tools and resources needed for them to reach their goals.

    Before investing you should carefully consider the Fund’s investment objectives, risks, charges and expenses. This and other information is in the prospectus. A prospectus may be obtained by visiting www.sofi.com. Please read the prospectus carefully before you invest.

    Investing involves risk including loss of principal. Please visit each fund’s page for specific fund risks.

    SoFi ETFs are distributed by Foreside Fund Services, LLC.

    The MIL Network –

  • MIL-OSI: EverCommerce Announces Changes to Its Board Of Directors

    Source: GlobeNewswire (MIL-OSI)

    DENVER, Sept. 20, 2024 (GLOBE NEWSWIRE) — EverCommerce Inc. (Nasdaq: EVCM) (the “Company”), a leading provider of SaaS solutions for service SMBs, announced today the appointment of Alexi Wellman to its Board of Directors, effective Monday, September 23, 2024.

    “We are excited to welcome Alexi to our Board of Directors,” said EverCommerce CEO and Chairman of the Board Eric Remer. “Alexi brings extensive experience in operations, financial management, accounting and audit processes and corporate governance that will serve us well in pursuing our growth strategy.”

    Upon joining the EverCommerce Board, Ms. Wellman will serve on the Company’s Audit Committee, bringing substantial expertise from her roles as CEO and CFO of Altbaba, Inc., vice president of finance and global controller at Yahoo Inc., CFO of Nebraska Book Company and practicing CPA and audit partner at KPMG LLP.

    Ms. Wellman also serves on the Board of Directors for public companies including ESS Tech, Inc. (NYSE: GWH) and Werner Enterprises (Nasdaq: WERN), where she is the Chair of both Boards’ Audit Committees.

    “I am thrilled to join the Board of Directors at EverCommerce and apply my financial and governance experience to the Company’s mission of simplifying and empowering the lives of its SMB service business customers,” said Ms. Wellman.

    Alongside this appointment, EverCommerce is also announcing that current Board member Debby Soo will be leaving the Company’s Board, effective October 31, 2024.

    “The Board of Directors, EverCommerce leadership and I thank Debby for her contributions over the past three and a half years,” said Remer. “We appreciate the insight and expertise she brought to the Company.”

    About EverCommerce 

    EverCommerce (Nasdaq: EVCM) is a leading service commerce platform, providing vertically-tailored, integrated SaaS solutions that help more than 690,000 global service-based businesses accelerate growth, streamline operations, and increase retention. Its modern digital and mobile applications create predictable, informed, and convenient experiences between customers and their service professionals. With its EverPro, EverHealth, and EverWell brands specializing in Home, Health, and Wellness service industries, EverCommerce provides end-to-end business management software, embedded payment acceptance, marketing technology, and customer experience applications. Learn more at  EverCommerce.com.

    Investor Contact

    Brad Korch
    SVP and Head of Investor Relations
    720-796-7664
    IR@evercommerce.com

    Media Contact
    Jeanne Trogan
    VP of Communications
    512-705-1293
    Press@evercommerce.com

    The MIL Network –

  • MIL-OSI: iBio Reports Fiscal Year 2024 Financial Results and Provides Corporate Update

    Source: GlobeNewswire (MIL-OSI)

    SAN DIEGO, Sept. 20, 2024 (GLOBE NEWSWIRE) — iBio, Inc. (NYSEA:IBIO), an AI-driven innovator of precision antibody immunotherapies, today announced its financial results for the fiscal year ended June 30, 2024, and provided a corporate update.

    “Our fiscal year 2024 was a transformational year for iBio, as we’ve solidified our business and financial position as a next-generation antibody company with a machine-learning-enabled platform for designing and developing difficult-to-drug therapeutics,” said CEO and Chief Scientific Officer Martin Brenner, Ph.D., DVM. “We made significant progress entering the fast-growing cardiometabolic and obesity space with our collaboration with AstralBio and strengthened our financial position by eliminating our debt associated with the facility and closing a fully subscribed financing including participation from Ikarian Capital, Lynx1 Capital Management, ADAR1 Capital Management, and other institutional and accredited investors. We continued to build our drug discovery platform, adding innovative technologies that are helping to advance our pipeline and provide critical support to our biopharma partners with best-in-class antibody discovery and development projects.”

    Business Developments:

    • Expanded the AI-powered technology stack with the launch of ShieldTx™, a patent-pending antibody masking technology designed to enable specific, highly targeted antibody delivery to diseased tissue without harming healthy tissue.
    • In February, iBio closed the sale of its early-stage PD-1 asset to Otsuka Pharmaceutical Co., Ltd. for $1MM in upfront cash with contingent downstream payments of up to $52.5MM, a pivotal moment that showcased the power of iBio’s platform to discover best-in-class assets.
    • Added bispecific capabilities with its EngageTx™ technology. We advanced a Trop2 x CD3 molecule to clinical candidate selection stage by demonstrating in a humanized mouse model of squamous cell carcinoma, a significant 36 percent reduction in tumor size 14 days after tumor implantation and after a single dose.  Additionally, we leveraged our EngageTx technology and Epitope Steering technology to successfully develop multiple MUC16 x CD3 molecules, which show potent cell killing against ovarian cancer cells.
    • Entered into a collaboration with AstralBio, Inc. to provide an exclusive license in the cardiometabolic and obesity space. iBio will develop four targets of interest with rights to license up to three of these targets prior to entering the clinic.

    Corporate Developments:

    • At the Company’s Special Meeting of Stockholders held on November 27, 2023, iBio’s stockholders authorized a reverse stock split, with a ratio ranging from 1-for-5 to 1-for-20 (the “Range”), with the ratio within such Range to be determined at the discretion of the Board of Directors (the “Board”), and thereafter the Board approved a one for twenty (1-for-20) reverse stock split of the Company’s shares of common stock. The reverse stock split was effective November 29, 2023.
    • Entered into a best-efforts public offering with investors in the fiscal second quarter for gross proceeds of approximately $4.5MM before deducting placement agent fees and offering expenses
    • Entered into a securities purchase agreement for a private investment in public equity financing with several institutional investors and an accredited investor in the fiscal third quarter and consummated the financing in the fiscal fourth quarter for gross proceeds of approximately $15.0MM before deducting placement agent fees and offering expenses.
    • During the third and fourth quarters, strengthened the Company’s cash position after previously issued warrants were exercised for proceeds of approximately $4.5MM.
    • The Company closed the sale of its manufacturing facility located in Bryan, Texas (the “Property”) to the Board of Regents of the Texas A&M University System for $8.5MM. Following the issuance of pre-funded warrants having a value of $4.5MM to the lender, Woodforest National Bank, iBio and its wholly owned subsidiary, iBio CDMO LLC, satisfied all of the conditions of the settlement agreement releasing the Company and its subsidiary of all obligations with respect to the debt secured by the Property, which coupled with the release of approximately $915K in restricted cash previously held by Woodforest, eliminated approximately $13.2MM in secured debt from the Company’s balance sheet.
    • Strengthened its Board of Directors and executive leadership team through the appointments of Dr. Brenner to the Board of Directors, effective June 1, 2024, and Kristi Sarno as Senior Vice President, Business Development, effective August 8, 2024.

    “We ended this fiscal year well-positioned to advance our technology to drive value for patients and shareholders,” said Chief Financial Officer Felipe Duran. “We strengthened our balance sheet through capital raises and debt extinguishment. In fiscal year 2024, we executed transactions which brought in non-dilutive funding, and we continue to pursue business development projects to strengthen our financial position.”

    Financial Results:

    Revenues for the fiscal year ended June 30, 2024, were approximately $0.2 million, an increase of 100% over fiscal 2023.

    R&D and G&A expenses for fiscal 2024 decreased $5.1 million and $7.3 million, respectively, over the comparable period in fiscal 2023. The decrease in R&D and G&A reflects the Company’s cost savings implemented to support its growing investments in its pipeline, platform technologies, employees, and related infrastructure.

    iBio’s consolidated net loss for the fiscal year ended June 30, 2024, was $24.9 million, a decreased loss of $40.1 million compared to 2023 primarily because of the decrease in expenses related to the Company’s discontinued operations and cost saving initiatives.

    iBio held cash, cash equivalents and restricted cash of $14.4 million as of June 30, 2024.

    As disclosed in its Annual Report on Form 10-K for the fiscal year ended June 30, 2024, which was filed on September 20, 2024 with the Securities and Exchange Commission, the audited financial statements contained an audit opinion from its registered public accounting firm that includes an explanatory paragraph related to the Company’s ability to continue as a going concern. See further discussion in footnote 2 to the Company’s financial statements included in the Company’s Annual Report on Form 10-K. This announcement is made pursuant to NYSE American LLC Company Guide Sections 401(h) and 610(b), which requires public announcement of the receipt of an audit opinion containing a going concern paragraph.

    About iBio, Inc.

    iBio is an AI-driven innovator that develops next-generation biopharmaceuticals using computational biology and 3D-modeling of subdominant and conformational epitopes, prospectively enabling the discovery of new antibody treatments for hard-to-target cancers, and other diseases. iBio’s mission is to decrease drug failures, shorten drug development timelines, and open up new frontiers against the most promising targets. For more information, visit www.ibioinc.com.

    FORWARD-LOOKING STATEMENTS

    Certain statements in this press release constitute “forward-looking statements” within the meaning of the federal securities laws. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. These forward-looking statements are based upon current estimates and assumptions and include statements such as ending the fiscal year being well-positioned to advance the Company’s technology to drive value for patients and shareholders; and continuing to pursue business development projects to strengthen the Company’s financial position. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the Company’s ability to successfully advance its technology and continue to pursue business development projects to strengthen the Company’s financial position; its ability to obtain regulatory approvals for commercialization of its product candidates, or to comply with ongoing regulatory requirements; regulatory limitations relating to its ability to promote or commercialize its product candidates for specific indications; acceptance of its product candidates in the marketplace and the successful development, marketing or sale of products; the continued maintenance and growth of its patent estate; its ability to establish and maintain collaborations and attract and increase partnership opportunities; competition; the substantial doubt exists related to the Company’s ability to operate as a going concern; its ability to raise additional capital in order to fully execute the Company’s longer-term business plans and the other factors discussed in the Company’s filings with the SEC including the Company’s Annual Report on Form 10-K for the year ended June 30, 2024. The information in this release is provided only as of the date of this release, and the Company undertakes no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.

    Contact:

    iBio, Inc. 
    Investor Relations 
    ir@ibioinc.com 

    Susan Thomas 
    iBio, Inc. 
    Media Relations 
    susan.thomas@ibioinc.com  

    iBio, Inc. and Subsidiaries
    Consolidated Statements of Operations and Comprehensive Loss
    (In Thousands, except per share amounts)

                 
        Years Ended
        June 30, 
        2024      2023
                 
    Revenues   $ 225     $ —  
                 
    Operating expenses:            
    Research and development     5,185       10,327  
    General and administrative     11,674       19,016  
    Total operating expenses     16,859       29,343  
                 
    Operating loss     (16,634 )     (29,343 )
                 
    Other income (expense):            
    Interest expense     (172 )     (83 )
    Interest income     363       213  
    Loss on sales of debt securities     —       (98 )
    Gain on sale of intellectual property     1,000       —  
    Total other income     1,191       32  
                 
    Net loss from continuing operations     (15,443 )     (29,311 )
                 
    Loss from discontinued operations     (9,464 )     (35,699 )
                 
    Net loss   $ (24,907 )   $ (65,010 )
                 
    Comprehensive loss:            
    Consolidated net loss   $ (24,907 )   $ (65,010 )
                 
    Other comprehensive loss – unrealized gain on debt securities     —       180  
    Other comprehensive income – foreign currency adjustment     —       33  
                 
    Comprehensive loss   $ (24,907 )   $ (64,797 )
                 
    Loss per common share attributable to iBio, Inc. stockholders – basic and diluted – continuing operations   $ (4.03 )   $ (47.88 )
    Loss per common share attributable to iBio, Inc. stockholders – basic and diluted – discontinued operations   $ (2.47 )   $ (58.31 )
    Loss per common share attributable to iBio, Inc. stockholders – basic and diluted – total   $ (6.50 )   $ (106.19 )
                 
    Weighted-average common shares outstanding – basic and diluted     3,831       612  
                     

    iBio, Inc. and Subsidiaries

    Consolidated Balance Sheets
    (In Thousands, except share and per share amounts)

                 
                 
        June 30, 2024      June 30, 2023
                 
    Assets            
    Current assets:            
    Cash and cash equivalents   $ 14,210     $ 4,301  
    Restricted cash     —       3,025  
    Subscription receivable     —       204  
    Promissory note receivable and accrued interest     713       —  
    Prepaid expenses and other current assets     749       664  
    Current assets held for sale (see Note 3 – Discontinued Operations)     —       18,065  
    Total Current Assets     15,672       26,259  
                 
    Restricted cash     215       253  
    Promissory note receivable     1,081       1,706  
    Finance lease right-of-use assets, net of accumulated amortization     339       610  
    Operating lease right-of-use asset     2,401       2,722  
    Fixed assets, net of accumulated depreciation     3,632       4,219  
    Intangible assets, net of accumulated amortization     5,368       5,388  
    Security deposits     26       50  
    Total Assets   $ 28,734     $ 41,207  
                 
    Liabilities and Stockholders’ Equity            
    Current liabilities:            
    Accounts payable   $ 358     $ 1,849  
    Accrued expenses     2,028       4,561  
    Finance lease obligations – current portion     299       272  
    Operating lease obligation – current portion     436       389  
    Equipment financing payable – current portion     178       160  
    Term promissory note – current portion     218       —  
    Insurance premium financing payable     123       —  
    Term note payable – net of deferred financing costs     —       12,937  
    Contract liabilities     200       —  
    Current liabilities related to assets held for sale     —       1,941  
    Total Current Liabilities     3,840       22,109  
                 
    Finance lease obligations – net of current portion     53       351  
    Operating lease obligation – net of current portion     2,688       3,125  
    Equipment financing payable – net of current portion     63       241  
    Term promissory note – net of current portion     766       —  
                 
    Total Liabilities     7,410       25,826  
                 
    Stockholders’ Equity            
    Series 2022 Convertible Preferred Stock – $0.001 par value; 1,000,000 shares authorized at June 30, 2024 and June 30, 2023; 0 shares issued and outstanding as of June 30, 2024 and June 30, 2023     —       —  
    Common stock – $0.001 par value; 275,000,000 shares authorized at June 30, 2024 and June 30, 2023; 8,623,676 and 1,015,505 shares issued and outstanding as of June 30, 2024 and June 30, 2023, respectively     9       1  
    Additional paid-in capital     335,162       304,320  
    Accumulated deficit     (313,847 )     (288,940 )
    Total Stockholders’ Equity     21,324       15,381  
                 
    Total Equity     21,324       15,381  
    Total Liabilities and Stockholders’ Equity   $ 28,734     $ 41,207  

    The MIL Network –

  • MIL-OSI: Ninepoint Partners Announces Estimated September 2024 Cash Distributions for Ninepoint Cash Management Fund – ETF Series

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Sept. 20, 2024 (GLOBE NEWSWIRE) — Ninepoint Partners LP (“Ninepoint Partners”) today announced the estimated September 2024 cash distribution for the ETF Series of Ninepoint Cash Management Fund (the “Fund”). Ninepoint Partners expects to issue a press release on or about September 26, 2024, which will provide the final distribution rate. The record date for the cash distribution is September 27, 2024, payable on October 7, 2024.

    All estimates in this document are based on the accounting data as of September 20, 2024. Due to subscriptions and/or redemptions and/or other factors, the final September 2024 distribution may differ from these estimates and the difference could be material. The information included in this letter is for reference purposes only. Please reconcile all information against your official client statements. This is not intended to be a statement for official tax reporting purposes or any form of tax advice.

    The actual taxable amounts of distributions for 2024, including the tax characteristics of the distributions, will be reported to CDS Clearing and Depository Services Inc. in early 2025. Securityholders can contact their brokerage firm for this information.

    The per-unit estimated September distribution is detailed below:

    Ninepoint ETF Series Ticker Cash Distribution
    per unit    		 Notional Distribution
    per unit    		 CUSIP
    Ninepoint Cash Management Fund NSAV $0.16280 $0.00000 65443X105

    About Ninepoint Partners

    Based in Toronto, Ninepoint Partners LP is one of Canada’s leading alternative investment management firms overseeing approximately $7 billion in assets under management and institutional contracts. Committed to helping investors explore innovative investment solutions that have the potential to enhance returns and manage portfolio risk, Ninepoint offers a diverse set of alternative strategies including Alternative Income and Real Assets, in addition to North American and Global Equities.

    For more information on Ninepoint Partners LP, please visit www.ninepoint.com or please contact us at 416.362.7172 or 1.888.362.7172 or invest@ninepoint.com.

    Ninepoint Partners LP is the investment manager to the Ninepoint Funds (collectively, the “Funds”). Commissions, trailing commissions, management fees, performance fees (if any), and other expenses all may be associated with investing in the Funds. Please read the prospectus carefully before investing. The information contained herein does not constitute an offer or solicitation by anyone in the United States or in any other jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation.

    Prospective investors who are not resident in Canada should contact their financial advisor to determine whether securities of the Fund may be lawfully sold in their jurisdiction.

    Please note that distribution factors (breakdown between income, capital gains and return of capital) can only be calculated when a fund has reached its year-end. Distribution information should not be relied upon for income tax reporting purposes as this is only a component of total distributions for the year. For accurate distribution amounts

    for the purpose of filing an income tax return, please refer to the appropriate T3/T5 slips for that particular taxation year. Please refer to the prospectus or offering memorandum of each Fund for details of the Fund’s distribution policy.

    The payment of distributions and distribution breakdown, if applicable, is not guaranteed and may fluctuate. The payment of distributions should not be confused with a Fund’s performance, rate of return, or yield. If distributions paid by the Fund are greater than the performance of the Fund, then an investor’s original investment will shrink. Distributions paid as a result of capital gains realized by a Fund and income and dividends earned by a Fund are taxable in the year they are paid. An investor’s adjusted cost base will be reduced by the amount of any returns of capital. If an investor’s adjusted cost base goes below zero, then capital gains tax will have to be paid on the amount below zero.

    Sales Inquiries:

    Ninepoint Partners LP
    Neil Ross
    416-945-6227
    nross@ninepoint.com 

    The MIL Network –

  • MIL-OSI: Brookfield Corporation Announces Results of Conversion of its Series 40 Preferred Shares

    Source: GlobeNewswire (MIL-OSI)

    BROOKFIELD, NEWS, Sept. 20, 2024 (GLOBE NEWSWIRE) — Brookfield Corporation (NYSE: BN, TSX: BN) today announced that after having taken into account all election notices received by the deadline for the conversion of its Cumulative Class A Preference Shares, Series 40 (the “Series 40 Shares”) (TSX: BN.PF.F) into Cumulative Class A Preference Shares, Series 41 (the “Series 41 Shares”), there were 29,920 Series 40 Shares tendered for conversion, which is less than the one million shares required to give effect to conversion into Series 41 Shares. Accordingly, there will be no conversion of Series 40 Shares into Series 41 Shares and holders of Series 40 Shares will retain their Series 40 Shares.

    About Brookfield Corporation

    Brookfield Corporation is a leading global investment firm focused on building long-term wealth for institutions and individuals around the world. We have three core businesses: Alternative Asset Management, Wealth Solutions, and our Operating Businesses which are in renewable power, infrastructure, business and industrial services, and real estate.

    We have a track record of delivering 15%+ annualized returns to shareholders for over 30 years, supported by our unrivaled investment and operational experience. Our conservatively managed balance sheet, extensive operational experience, and global sourcing networks allow us to consistently access unique opportunities. At the center of our success is the Brookfield Ecosystem, which is based on the fundamental principle that each group within Brookfield benefits from being part of the broader organization. Brookfield Corporation is publicly traded in New York and Toronto (NYSE: BN, TSX: BN).

    For more information, please visit our website at www.bn.brookfield.com or contact:

    Media Investor Relations
       
    Kerrie McHugh Linda Northwood
    Tel: (212) 618-3469 Tel: (416) 359-8647
    Email: kerrie.mchugh@brookfield.com Email: linda.northwood@brookfield.com

    The MIL Network –

  • MIL-OSI Canada: Promoting Alberta tourism in New York City

    Source: Government of Canada regional news

    The mission will encourage travel-trade operators to feature Alberta itineraries, build relationships with industry partners, and secure valuable coverage in top-tier media publications. Meetings with New York-based sport associations will build relationships with key contacts and enable strategic conversations about Alberta’s potential to host upcoming major sporting events.

    “No matter where you’re from or what your interests are, Alberta has something for you—whether you come to explore our majestic natural landscapes, discover our vibrant cities or to watch the world’s best athletes compete in major sporting competitions. I’m looking forward to showing the United States what Alberta has to offer.”

    Joseph Schow, Minister of Tourism and Sport

    The U.S. is Alberta’s largest international market. In 2023, more than 1.2 million visitors from the U.S. came to Alberta. Through meetings with media partners and sport associations, the mission aims to encourage more American travellers to choose Alberta, and to spend more, stay longer and explore more parts of the province when they visit.

    Sport tourism is a fast-growing market, with many visitors coming to Alberta to watch or participate in major sporting events. Strengthening sport tourism in the province will help advance Alberta’s goal of reaching $25 billion in annual visitor expenditures by 2035.

    Minister Schow will be joined by one staff member. Mission expenses will be posted on the travel and expense disclosure page. Travel Alberta officials will also join Minister Schow, covering their own expenses.

    Alberta’s government is committed to working with its national and international partners to advance shared interests that can lead to new opportunities for people and businesses in Alberta and around the world.

    Itinerary for Minister Schow*

    Sept. 22
    • Travel to New York City

    Sept. 23
    • Meetings with sport tourism partners

    Sept. 24
    • Meetings with key media publications

    Sept. 25
    • Meetings with travel trade partners

    Sept. 26
    • Travel to Alberta

    *Subject to change.

    MIL OSI Canada News –

  • MIL-OSI: Ninepoint Partners Announces September 2024 Cash Distributions for ETF Series Securities

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Sept. 20, 2024 (GLOBE NEWSWIRE) — Ninepoint Partners LP (“Ninepoint Partners”) today announced the September 2024 cash distributions for its ETF Series securities. The record date for the distributions is September 27, 2024. All distributions are payable on October 7, 2024.

    The per-unit September distributions are detailed below:

    About Ninepoint Partners

    Based in Toronto, Ninepoint Partners LP is one of Canada’s leading alternative investment management firms overseeing approximately $7 billion in assets under management and institutional contracts. Committed to helping investors explore innovative investment solutions that have the potential to enhance returns and manage portfolio risk, Ninepoint offers a diverse set of alternative strategies including Alternative Income and Real Assets, in addition to North American and Global Equities.

    For more information on Ninepoint Partners LP, please visit www.ninepoint.com or please contact us at 416.362.7172 or 1.888.362.7172 or invest@ninepoint.com.

    Ninepoint Partners LP is the investment manager to the Ninepoint Funds (collectively, the “Funds”). Commissions, trailing commissions, management fees, performance fees (if any), and other expenses all may be associated with investing in the Funds. Please read the prospectus carefully before investing. The information contained herein does not constitute an offer or solicitation by anyone in the United States or in any other jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation. Prospective investors who are not resident in Canada should contact their financial advisor to determine whether securities of the Fund may be lawfully sold in their jurisdiction.

    Please note that distribution factors (breakdown between income, capital gains and return of capital) can only be calculated when a fund has reached its year-end. Distribution information should not be relied upon for income tax reporting purposes as this is only a component of total distributions for the year. For accurate distribution amounts for the purpose of filing an income tax return, please refer to the appropriate T3/T5 slips for that particular taxation year. Please refer to the prospectus or offering memorandum of each Fund for details of the Fund’s distribution policy.

    The payment of distributions and distribution breakdown, if applicable, is not guaranteed and may fluctuate. The payment of distributions should not be confused with a Fund’s performance, rate of return, or yield. If distributions paid by the Fund are greater than the performance of the Fund, then an investor’s original investment will shrink. Distributions paid as a result of capital gains realized by a Fund and income and dividends earned by a Fund are taxable in the year they are paid. An investor’s adjusted cost base will be reduced by the amount of any returns of

    capital. If an investor’s adjusted cost base goes below zero, then capital gains tax will have to be paid on the amount below zero.

    Sales Inquiries:

    Ninepoint Partners LP
    Neil Ross
    416-945-6227 
    nross@ninepoint.com 

    The MIL Network –

  • MIL-OSI Canada: Government of Canada and FCM to Make a Sustainable Affordable Housing Announcement for Ontario

    Source: Government of Canada News

    OTTAWA — Terry Sheehan, Parliamentary Secretary to the Minister of Labour and Seniors, on behalf of the Honourable Jonathan Wilkinson, Minister of Energy and Natural Resources, and Geoff Stewart, President of the Federation of Canadian Municipalities (FCM), will make an announcement for sustainable affordable housing in Northwestern Ontario.

    OTTAWA  — Terry Sheehan, Parliamentary Secretary to the Minister of Labour and Seniors, on behalf of the Honourable Jonathan Wilkinson, Minister of Energy and Natural Resources, and Geoff Stewart, President of the Federation of Canadian Municipalities (FCM), will make an announcement for sustainable affordable housing in Northwestern Ontario.

    Date: Monday, September 23, 2024

    Time: 1:15 p.m. ET

    Location: This virtual event will be held using the Webex platform. Accredited media are asked to pre-register by emailing media@nrcan-rncan.gc.ca to obtain the announcement link.

    Note: To help ensure optimal sound quality, journalists are encouraged to use a microphone (headphones/headset) or a landline and to avoid using speaker mode if queuing up for questions.

    MIL OSI Canada News –

  • MIL-OSI: Clover Leaf Capital Corp. Announces Adjournment of Special Meeting of Stockholders on Proposed Business Combination

    Source: GlobeNewswire (MIL-OSI)

    MIAMI, FL and KANSAS CITY, KS, Sept. 20, 2024 (GLOBE NEWSWIRE) — Clover Leaf Capital Corp. (Nasdaq: CLOE) (“CLOE” or “Clover Leaf”), a publicly traded special purpose acquisition company, and Digital Ally, Inc. (Nasdaq: DGLY) (“Digital Ally”) today announced that on September 20, 2024, Clover Leaf convened and then adjourned, without conducting other business, its special meeting of its stockholders in lieu of its 2024 Annual Meeting of Stockholders (the “Meeting” ) to 10:00 a.m., Eastern Time on Friday, September 27, 2024. At the meeting, stockholders of Clover Leaf will be asked to vote on proposals to approve, among other things, its proposed initial business combination (the “Business Combination”) with Kustom Entertainment, Inc., a Nevada corporation (“Kustom Entertainment” or the “Company”), pursuant to an Agreement and Plan of Merger (as amended, the “Merger Agreement”), by and among Clover Leaf, CL Merger Sub, Inc., a Nevada corporation and a wholly-owned subsidiary of Clover Leaf (“Merger Sub”), Yntegra Capital Investments LLC, a Delaware limited liability company, in the capacity as the Purchaser Representative (as defined in the Merger Agreement) and Digital Ally, Inc., a Nevada corporation and the sole stockholder of the Company (“Digital Ally”). There is no change to the location, the record date, the purpose or any of the proposals to be acted upon at the Meeting.

    As a result of this change, the Meeting will now be held at 10:00 a.m. Eastern Time on Friday, September 27, 2024 via the live webcast at https://www.cstproxy.com/cloverlcc/bc2024. Also as a result of this change, the deadline for holders of Clover Leaf’s Class A common stock issued in Clover Leaf’s initial public offering to submit their shares for redemption in connection with the Business Combination, is being extended to 5:00 p.m. Eastern Time on Wednesday, September 25, 2024. The record date for Clover Leaf’s stockholders to vote in the Meeting remains July 24, 2024.

    Clover Leaf plans to continue to solicit proxies from stockholders during the period prior to the Meeting. Only the holders of the Clover Leaf’s common stock as of the close of business on July 24, 2024, the record date for the Meeting, are entitled to vote at the Meeting.

    If any Clover Leaf stockholder has any questions or need assistance, such stockholder should (i) reach out to his, her or its broker or (ii) contact Morrow Sodali LLC, Clover Leaf’s proxy solicitor, for assistance via e-mail at CLOE.info or toll-free call at 800-662-5200. Banks and brokers can place a collect call to Morrow Sodali LLC at 203-658-9400 or email at CLOE.info@investor.morrowsodali.com.

    About Kustom Entertainment, Inc.

    Kustom Entertainment, Inc., a recently formed wholly-owned subsidiary of Digital Ally, will provide oversight to currently wholly-owned subsidiaries TicketSmarter, Kustom 440, and BirdVu Jets.

    TicketSmarter offers tickets to more than 125,000 live events ranging from concerts to sports and theatre shows. TicketSmarter is the official ticket resale partner of over 35 collegiate conferences, over 300 universities, and hundreds of events and venues nationally. TicketSmarter is a primary and secondary ticketing solution for events and high-profile venues across North America. For more information on TicketSmarter, visit www.Ticketsmarter.com.

    Established in late 2022, Kustom 440 is an entertainment division of Kustom Entertainment, Inc., whose mission it is to attract, manage and promote concerts, sports and private events. Kustom 440 is unique in that it brings a primary and secondary ticketing platform, in addition to its well-established relationships with artists, venues, and municipalities. For more information on Kustom 440, visit www.Kustom440.com.

    Kustom Entertainment operates through its wholly-owned subsidiaries TicketSmarter, Inc. (“TicketSmarter”), Kustom 440, Inc. (“Kustom 440”), and BirdVu Jets, Inc. (“BirdVu Jets”). Following the closing of the Business Combination, TicketSmarter, Kustom 440, and BirdVu Jets will combine their management teams and focus on concerts, entertainment and garnering additional ticketing partnerships, as well as using existing sponsorships and sports property partnerships to develop alternative entertainment options for consumers.

    About Clover Leaf Capital Corp.

    Clover Leaf Capital Corp. is a newly organized blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.

    For more information, contact:

    Stanton E. Ross, CEO
    Info@kustoment.com
    Info@cloverlcc.com

    Forward-Looking Statements

    This press release contains certain forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1955. These forward-looking statements include, without limitation, CLOE’s and Kustom Entertainment’s expectations with respect to the proposed business combination between CLOE and Kustom Entertainment, including statements regarding the benefits of the transaction, the anticipated timing of the transaction, the implied valuation of Kustom Entertainment, the products offered by Kustom Entertainment and the markets in which it operates, and Kustom Entertainment’s projected future results. Words such as “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions are intended to identify such forward-looking statements. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside CLOE’s and Kustom Entertainment’s control and are difficult to predict. Factors that may cause actual future events to differ materially from the expected results, include, but are not limited to: (i) the risk that the transaction may not be completed in a timely manner or at all, which may adversely affect the price of CLOE’s securities, (ii) the risk that the transaction may not be completed by CLOE’s business combination deadline, even if extended by its stockholders, (iii) and the potential failure to obtain an extension of the business combination deadline if sought by Clover Leaf; (iv) the failure to satisfy the conditions to the consummation of the transaction, including the adoption of the agreement and plan of merger (“Merger Agreement”) by the stockholders of CLOE, (v) the occurrence of any event, change or other circumstance that could give rise to the termination of the Merger Agreement, (vi) the failure to obtain any applicable regulatory approvals required to consummate the business combination; (vii) the receipt of an unsolicited offer from another party for an alternative transaction that could interfere with the business combination, (viii) the effect of the announcement or pendency of the transaction on Kustom Entertainment’s business relationships, performance, and business generally, (ix) the inability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition and the ability of the post-combination company to grow and manage growth profitability and retain its key employees, (x) costs related to the business combination, (xi) the outcome of any legal proceedings that may be instituted against Kustom Entertainment or CLOE following the announcement of the proposed business combination, (xii) the ability to maintain the listing of CLOE’s securities on the Nasdaq prior to the business combination, (xiii) the ability to implement business plans, forecasts, and other expectations after the completion of the proposed business combination, and identify and realize additional opportunities, (xiv) the risk of downturns and the possibility of rapid change in the highly competitive industry in which Kustom Entertainment operates, (xv) the risk that demand for Kustom Entertainment’s services may be decreased due to a decrease in the number of large-scale sporting events, concerts and theater shows, (xvi) the risk that any adverse changes in Kustom Entertainment’s relationships with buyer, sellers and distribution partners may adversely affect the business, financial condition and results of operations, (xvii) the risk that Changes in Internet search engine algorithms and dynamics, or search engine disintermediation, or changes in marketplace rules could have a negative impact on traffic for Kustom Entertainment’s sites and ultimately, its business and results of operations; (xviii) the risk that any decrease in the willingness of artists, teams and promoters to continue to support the secondary ticket market may result in decreased demand for Kustom Entertainment’s services; (xix) the risk that Kustom Entertainment is not able to maintain and enhance its brand and reputation in its marketplace, adversely affecting Kustom Entertainment’s business, financial condition and results of operations, (xx) the risk of the occurrence of extraordinary events, such as terrorist attacks, disease epidemics or pandemics, severe weather events and natural disasters, (xxi) the risk that because Kustom Entertainment’s operations are seasonal and its results of operations vary from quarter to quarter and year over year, its financial performance in certain financial quarters or years may not be indicative of, or comparable to, Kustom Entertainment’s financial performance in subsequent financial quarters or years; (xxii) the risk that periods of rapid growth and expansion could place a significant strain on Kustom Entertainment’s resources, including its employee base, which could negatively impact Kustom Entertainment’s operating results; (xxiii) the risk that Kustom Entertainment may never achieve or sustain profitability; (xxiv) the risk that Kustom Entertainment may need to raise additional capital to execute its business plan, which many not be available on acceptable terms or at all; (xxv) the risk that third-parties suppliers and manufacturers are not able to fully and timely meet their obligations, (xxvi) the risk that Kustom Entertainment is unable to secure or protect its intellectual property, (xxvii) the risk that the post-combination company’s securities will not be approved for listing on Nasdaq or if approved, maintain the listing and (xxviii) other risks and uncertainties indicated from time to time in the proxy statement and/or prospectus relating to the business combination, including those under the “Risk Factors” section therein and in CLOE’s other filings with the SEC. The foregoing list of factors is not exhaustive. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Kustom Entertainment and CLOE assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

    Important Information and Where to Find It

    In connection with the transaction, CLOE has filed the Registration Statement with the SEC, which includes a proxy statement to be distributed to holders of CLOE’s common stock in connection with CLOE’s solicitation of proxies for the vote by CLOE’s stockholders with respect to the transaction and other matters as described in the Registration Statement, as well as a prospectus relating to the offer of the securities to be issued to Kustom Entertainment’s stockholder in connection with the transaction. Before making any voting or investment decision, investors and security holders and other interested parties are urged to read the Registration Statement, any amendments thereto and any other documents filed with the SEC carefully and in their entirety because they contain important information about CLOE, Kustom Entertainment and the transaction. Investors and security holders may obtain free copies of the proxy statement/prospectus and other documents filed with the SEC by CLOE through the website maintained by the SEC at http://www.sec.gov, or by directing a request to: 1450 Brickell Avenue, Suite 2520, Miami, FL 33131.

    Participants in Solicitation

    CLOE and Kustom Entertainment and their respective directors and certain of their respective executive officers and other members of management and employees may be considered participants in the solicitation of proxies with respect to the transaction. Information about the directors and executive officers of CLOE is set forth in its Annual Report on Form 10-K for the fiscal year ended December 31, 2023 filed with the SEC on March 22, 2024. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, are included in the proxy statement/ prospectus and other relevant materials to be filed with the SEC regarding the transaction. Stockholders, potential investors and other interested persons should read the proxy statement/prospectus carefully before making any voting or investment decisions. These documents can be obtained free of charge from the sources indicated above.

    No Offer or Solicitation

    This press release shall not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed business combination. This communication shall 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 state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended, or an exemption therefrom.

    The MIL Network –

  • MIL-OSI: Moody’s Ratings upgrades Iceland’s ratings to A1, changes outlook to stable

    Source: GlobeNewswire (MIL-OSI)

    Moody’s Ratings (Moody’s) has upgraded the local and foreign-currency long-term issuer ratings of the Government of Iceland to A1 from A2 and changed the outlook to stable from positive.

    The key driver for the upgrade is the government’s improving fiscal metrics, which Moody´s expects to continue, with a sizeable reduction in the budget deficit and a clearly established downward trend in the government debt ratio since a recent peak in 2020. Moody’s expects the budget deficit to decline broadly in line with the government’s medium-term plans, which the rating agency considers credible.

    A consensual settlement of the HF Fund’s (A2 positive) liabilities, which are included in government debt, and renewed sales of government held bank shares will likely result in additional one-off reductions in the  debt ratio, in addition to an underlying declining trend. Secondly, tight monetary and fiscal policy has started to moderate elevated inflation, which supports Moody´s assessment of Iceland’s strong institutions and pro-active and well-coordinated policy stance.

    Iceland’s medium-term fiscal policy framework has been a credit strength, ensuring fiscal sustainability and the creation of fiscal space over time since its introduction in 2015. The fact that the authorities are now considering to replace the current balanced budget rule with an expenditure rule is credit positive, as such a change would strengthen the framework further by contributing more strongly to macroeconomic stability.

    The stable outlook reflects balanced risks at the A1 rating level. Moody´s expects fiscal consolidation to continue over the coming years broadly as planned in the medium-term fiscal plan. The economy is expected to return to robust growth next year, after a temporary slowdown this year as the tight monetary and fiscal policy cool the previously overheated economy. The sovereign’s economic and fiscal metrics may improve faster than Moody´s currently expects. At the same time, Iceland remains a small and comparatively undiversified economy, sensitive to sector-specific shocks. Also, its debt ratio and debt affordability metrics remain weaker than close peers at the same rating level, making fiscal strength relatively sensitive to shocks.

    The rating could be upgraded further if the government debt ratio continued to decline much faster than under Moody´s baseline assumptions and debt affordability metrics aligned with higher-rated peers. The rating could also be upgraded if the ongoing economic diversification efforts yielded stronger results in terms of reducing volatility of economic growth.

    Conversely, the rating would come under downward pressure if the government deviated significantly from its medium-term fiscal plans, resulting in a material increase in the public debt ratio with no indication of a timely correction.

    Further information on www.government.is

    The MIL Network –

  • MIL-OSI USA: Miller Honors Deputy District Director for her 25 Years of Service in the House of Representatives

    Source: United States House of Representatives – Congresswoman Carol Miller (R-WV)

    Washington D.C. – Yesterday, Congresswoman Carol Miller (R-WV) spoke on floor of the House of Representatives to honor her Deputy District Director, Kim McMillion, for her 25 years of service in the House of Representatives.

    Remarks as prepared are below. 
     
    Mr. Speaker, I rise today to recognize Mrs. Kim McMillion, who serves as my Deputy District Director over my Beckley, West Virginia office. Kim recently celebrated her 25th year working for the House of Representatives. 
     
    Throughout her career spanning three different Members, Kim has served the people of West Virginia with a grateful heart, always working to find solutions when issues arise between federal agencies and our constituents. 
     
    She is well-known throughout the district for her work in assisting with identifying federal grant opportunities, acquiring medals and purple hearts for veterans in the community, and her expertise in handling complex issues of immigration and social security affecting our constituents. 
     
    She is truly a wealth of knowledge and an invaluable member of my staff. 
     
    Outside of work, Kim’s greatest joy is her family. She is a wonderful wife to her husband, Frankie, mother to Tyler and her late son, Derrick, and grandmother to Jonathan, Charlee, and Abigail. 
     
    I am delighted to commend her here on the House Floor for her 25 years of service to the United States Congress and to our great state of West Virginia and invite my colleagues to join with me in congratulating her on this achievement. 

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Rep. Sewell Announces $1.2 Million to Expand Mental Health and Substance Use Treatment in Jefferson County and the Black Belt

    Source: United States House of Representatives – Congresswoman Terri Sewell (AL-07)

    Birmingham, AL – Today, U.S. Rep. Terri Sewell (AL-07) announced $1.2 million from the U.S. Department of Health and Human Services (HHS) Health Resources and Services Administration (HRSA) to expand mental health and substance use services in Jefferson County and the Black Belt. Alabama Regional Medical Services (ARMS) in Birmingham and Rural Health Medical Program in Selma were each awarded $600,000 to expand access to needed care and combat the mental health and opioid crises. The awards are part of a $240 million investment by the Biden-Harris Administration to launch and expand behavioral health care services in Community Health Centers across America.

    “When our most vulnerable Alabamians are in need of care, it is the amazing health care professionals at our Community Health Centers who stand in the gap,” said Rep. Sewell. “I am thrilled that the Biden-Harris Administration is working to expand mental health and substance use treatments for the patients that these facilities serve. These awards represent a critical step forward in our fight against the mental health and opioid crises.”

    “Alabama Regional Medical Services is deeply honored to receive this significant funding from HRSA to expand and integrate behavioral health services into primary care,” said Alabama Regional Medical Services (ARMS) CEO, Dr. Thomas Greer, Jr. “Our communities are increasingly facing mental health and substance use disorders challenges, and this award will allow us to better serve our patients. With this investment, ARMS will be better positioned to help address these challenges and achieve improved mental health and wellness outcomes in Birmingham, Alabama and the surrounding areas. We thank HRSA for this award and for recognizing the need in the City of Birmingham and for their continued partnership with ARMS in providing quality health care to children, youth and families in our community.”

    “I want to thank the Health and Human Services 330 Grant Branch for allowing us the opportunity to receive this funding,” said Rural Health Medical Program CEO Keshee Dozier-Smith. “I also want to thank Congresswoman Terri Sewell for continuing to support our efforts within her district. We know she fights every day for health equity and other needed resources in our community and we know through her support and others who represent the State of Alabama this funding was made available for us to expand these services.”

    Health centers are trusted community providers and a primary source of care for individuals across the country who are uninsured, underinsured, or enrolled in Medicaid—making them well-positioned to respond to the urgent need for behavioral health services that are high quality, stigma-free, culturally competent and readily accessible.

    A full list of Alabama Community Health Centers receiving funding is available here. More information on the announcement can be found here.

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  • MIL-OSI USA: The Future of US and Allied Hypersonic Missile Programs (Part 2)

    Source: United States House of Representatives – Congressman Doug Lamborn (5th District of Colorado)

    Washington, D.C. –Today, Congressman Doug Lamborn attended the Hudson Institute and the Space Foundation workshop with congressional, government, and industry officials to discuss the future of the American hypersonic missile program. Space Foundation CEO, Maj. Gen. (Ret) Heather Pringle and Rebeccah Heinrichs, Senior Fellow and Director, Keystone Defense Initiative at the Hudson Institute gave introductory remarks. Congressman Lamborn delivered a keynote address as well as a Q & A directly following the keynote. Congressman Lamborn was joined by several members of Congress, including Reps. Bacon, Norcross, and Fong.

    “My position as Chairman of the House Armed Services Strategic Forces Subcommittee has allowed me to gain unique insight into some of the nation’s most pressing threats and the development of technological sectors across the defense landscape. I have fought hard to ensure the United States stays at the forefront of advancements in warfare, and I have sounded the alarm in areas where we are falling behind. We must correct this downward trajectory now. My future hope is that events like today’s will continue and that we will one day be the leaders in hypersonics,”said Congressman Doug Lamborn.

    “When applied to space, hypersonics are a critical leadership element for our defense and for driving further technology innovation. From a defense perspective, hypersonic technology could enhance our ability to deter adversaries in space which is without a doubt a contested environment. Moreover, the dual use aspect of hypersonics contributes to technological leadership, innovation and collaborative space missions with our allies,”said Maj. Gen. (Ret) Heather Pringle, Space Foundation CEO.

    “I am grateful for the leadership of Chairman Lamborn and the Hudson Institute for organizing this very timely assessment of the state of U.S. hypersonic weapons programs,”said Congressman Don Bacon, Chairman of the House Armed Services Subcommittee on Cyber, Information Technology and Innovation and member of the Strategic Forces Subcommittee.  “We’ve made significant progress in technology development, but more must be done to advance hypersonic weapons technology, especially in fielding defensive capabilities for hypersonic weapons and developing our industrial base and test infrastructure. Today’s event generated useful insights that will inform Congress’ oversight of these vital national security programs,”said Congressman Don Bacon.

    “As a member of the House Armed Services Committee, I’ve witnessed both the potential for U.S. hypersonic capabilities and potential threats from adversaries. We must bolster our supply chain and industrial base to handle the complexity and durability needed for hypersonic missiles and other critical technologies. I’m glad I was able to join my Republican colleagues for a bipartisan discussion on this topic as we explore how to ensure safety and security for all Americans,”said Congressman Donald Norcross.

    “Today’s event was a great opportunity to promote the commercial hypersonic industry and talk about the continuing work that must be done,” said Rep. Vince Fong (CA-20). “Getting to speak about the innovative developments being done in this industry in my district by the NASA Armstrong Flight Research Center, Edwards Air Force Base, and NAWS China Lake and my proposal, the MACH Act, to the NASA Reauthorization bill, was an important part of demonstrating the innovative technologies that are advancing the space market and all the prospect in an effort in advancing commercial hypersonic. As a nation, we must build off the legacies to continue to be on the cutting-edge,“said Congressman Vince Fong.

    “As China and Russia continue to expand their hypersonic capabilities, it is crucial that our nation updates its defense systems to combat and deter these modern threats. In order to maintain strategic stability as well as competitive advantage, we must focus on developing our offensive hypersonic capabilities as well as investing in defensive counter-hypersonic systems. In order to accomplish this, adequate testing facilities are necessary to replicate the conditions which are unique to hypersonic flight,” said Congressman Pat Fallon.

    Click here to watch the Congressman Lamborn’s keynote address

    Click here to watch Congressman Lamborn’s Q&A

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    MIL OSI USA News –

  • MIL-OSI Asia-Pac: India Achieves Tier 1 Status in Global Cybersecurity Index 2024

    Source: Government of India (2)

    India Achieves Tier 1 Status in Global Cybersecurity Index 2024

    The stellar achievement reflects our unwavering commitment to global cybersecurity: Minister of Communications Shri Jyotiraditya M Scindia

    With a remarkable score of 98.49 out of 100, India joins the ranks of ‘role-modelling’ countries

    Posted On: 20 SEP 2024 4:50PM by PIB Delhi

    India has marked a significant milestone in its cybersecurity efforts by achieving top Tier i.e. Tier 1 status in the Global Cybersecurity Index (GCI) 2024, published by the International Telecommunication Union (ITU). With a remarkable score of 98.49 out of 100, India joins the ranks of ‘role-modelling’ countries, demonstrating a strong commitment to cybersecurity practices across the globe.

    The Department of Telecommunications (DoT) played a pivotal role as the nodal agency representing India in the Global Cybersecurity Index (GCI) 2024. Shri Jyotiraditya M Scindia, Hon’ble Minister of Communications, hailed the accomplishment as a Proud Moment for Bharat. He said, “This stellar achievement reflects our unwavering commitment to cybersecurity and highlights the remarkable growth of India’s telecom sector.”

    The GCI 2024 assessed national efforts based on five pillars: legal, technical, organizational, capacity development, and cooperation. The comprehensive questionnaire includes 83 questions, covering 20 indicators, 64 sub-indicators, and 28 micro-indicators, ensuring a thorough evaluation of each country’s cybersecurity landscape.

    India’s strong performance in cybersecurity is driven by a series of initiatives and measures undertaken by the Government of India to enhance cyber resilience and establish robust frameworks for cybercrime laws and cybersecurity standards. The country’s legal institutions are well-prepared to address cybersecurity challenges and combat cybercrime, ensuring the protection of its digital infrastructure. Additionally, Sectoral Computer Incident Response Teams (CSIRTs) provide sector-specific technical support and incident reporting, further strengthening India’s cybersecurity capabilities.

    Education and awareness have been central to India’s cybersecurity strategy. Targeted campaigns and educational initiatives have promoted secure online practices across sectors, including private industry, public institutions, civil society, and academia. The integration of cybersecurity into primary and secondary education curricula further underscores the country’s dedication to cultivating a knowledgeable and well-prepared digital citizenry.

    In addition, incentives and grants have driven skill development and promoted research and innovation within India’s cybersecurity industry. International collaborations, along with bilateral and multilateral agreements, have further strengthened India’s capacity-building and information-sharing efforts, solidifying its role as a global leader in cybersecurity.

    India’s leap to Tier 1 in the GCI 2024 is a clear indicator of the nation’s elevated cybersecurity commitments. This achievement not only reflects Government of India’s dedication to securing its digital domain but also sets a benchmark for other nations. DoT continues to spearhead India’s efforts in securing its digital infrastructure on the global stage.

     

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  • MIL-OSI USA: Miller Participates in Ways and Means Trade Hearing on Protecting American Innovation Through Strong Digital Trade Rules

    Source: United States House of Representatives – Congresswoman Carol Miller (R-WV)

    Washington D.C. – Today, Congresswoman Carol Miller (R-WV) spoke at a Ways and Means digital trade hearing focused on protecting American innovation by establishing and enforcing strong digital trade rules.

    Congresswoman Miller began her remarks by explaining how specific Korean digital policies, if passed, will end up harming U.S. businesses and threaten our national security in the Indo-Pacific. 

    “Korea may soon pass online platform laws and regulations that would make it difficult for U.S. companies to operate in their country. I am very concerned that such an important, strategic ally like the Republic of Korea is pursuing economic policies that target and discriminate against U.S. technology companies while welcoming state-owned Chinese companies with open arms. Chinese firms are the fastest growing tech companies in Korea, with many leveraging strategic partnerships with Korean monopolies who have a strong influence in Korea’s legislature. I am very concerned about the national security implications of Korea’s ill-advised economic discrimination and would urge them not to go down this path, and instead, continue our important technology partnership and the goals established in our free trade agreement. Our trade agreement with Korea is the second largest Free Trade Agreement (FTA) by trade flows, second only to the United States-Mexico-Canada Agreement (USMCA). ​​It is extremely concerning to me that our two biggest FTAs are both facing obstacles in the world of digital trade,” said Congresswoman Miller. 
     
    Congresswoman Miller asked the President of Information Technology and Innovation Foundation (ITIF), Robert D. Atkinson, how China will benefit from the Korean digital policies and how this will affect the United States regarding the economy and national security. 
     
    “Can you explain how China wins if Korea pursues economic discrimination policies against the United States and why are Chinese firms seeking to drastically increase their Korean userbase? Do you believe that Korea is assisting them in their growth?” asked Congresswoman Miller. 

    “Last time I was there [in Korea], I tried to use google maps to figure out where to go and I couldn’t. I could use a Korean app company and they say it’s national security. It has nothing to do with national security. It’s the fact that they wanted to favor their own domestic map companies, their own domestic players. That’s what they’re doing now by copying the European Digital Markets Act (DMA) and what they want to do is they want to be able to pass a law that would require American companies to turn over data to be interoperable to do other kinds of things that would benefit Korean companies. But they can’t write the law so blatantly that it admits that, so it would benefit Korean companies, but it would also benefit Chinese companies. They’re willing to make that trade-off because they think it’s going to benefit their companies more, and it’ll hurt our companies. This will benefit Chinese companies and make them stronger. I would put Korea again in the same categories as I’d put Canada. They need us a lot more than we need them. They’re dependent upon us not just for military, but they’re so focused right now on building technology partnerships. They want technology partnerships with us and we’re going ahead and saying “yes,” but I think there must be a quid pro quo with that. Yeah, we want technology partnerships with you so we can both be stronger against the Chinese, but we’re not going to do partnerships with you if you do these kinds of discriminatory things,” responded Dr. Atkinson. 

    “What are the national security concerns related to U.S. foreign policy in the Indo-Pacific should the U.S. be less economically tied to our strategic ally as they grow closer to China?” asked Congresswoman Miller. 

    “So, the fundamental question I think in, in the Indo-Pacific is, are these countries going to gradually move over into the China orbit or are they going to stay in the Western democratic market orbit? The Koreans don’t want to pick. They want to have really close relationship with the Chinese because they know Chinese are predatory and retaliatory. They will hurt the Korean companies. They’ve done that before, but we need to let them know that they can’t have it both ways. They have to pick. We’re their defender. They need to be on the side of the allies and democracy, so I think it’s a critical, critical issue that we make them choose and choose us,” responded Dr. Atkinson.

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    MIL OSI USA News –

  • MIL-OSI Asia-Pac: Department of Scientific & Industrial Research commences Swachhata Hi Seva Campaign 2024 on the theme ‘Swabhav Swachhata, Sanskar Swachhata’

    Source: Government of India

    Posted On: 20 SEP 2024 4:36PM by PIB Delhi

    To take on the Government of India Vision of Swachh Bharat, Department of Scientific & Industrial Research (DSIR) along with Autonomous Body, Council for Scientific & Industrial Research (CSIR) and two PSUs i.e. National Research Development Corporation (NRDC) & Central Electronics Ltd. (CEL) has launched the Swachhata Hi Seva Campaign 2024 starting from 17th Sept to 2nd Oct., 2024 with a series of activities focusing on collective cleanliness efforts and community engagement.

    Swachhata Hi Seva campaign rolled out with collective Swachhata Pledge and plantation by senior officers under ‘Ek Ped Maa Ke Naam’ programme.

    Special initiatives have been taken by the Department during Swachhata Hi Seva Campaign 2024 which include the Plantation drives, Trainings & Workshop and Shramdaan activity around the office of DSIR and its organizations i.e. CSIR, CEL and NRDC.

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  • MIL-OSI Asia-Pac: Union Health Minister Shri J P Nadda lists out achievements of the Union Health Ministry in the First 100 Days of the New Government

    Source: Government of India (2)

    Union Health Minister Shri J P Nadda lists out achievements of the Union Health Ministry in the First 100 Days of the New Government

    Ayushman Bharat is the world’s largest publicly funded health coverage program: Shri JP Nadda

    “The U-WIN portal has been developed for full digitization of vaccination services for complete vaccination record of pregnant women and children from birth to 17 years under the Universal Immunization Programme”

    “There has been 98% increase in medical colleges from 387 in 2013-14 to 766 in 2024-25”

    “MBBS Seats increased by 64,464 (i.e., 125%) from 2013-14 (51,348 seats) to 2024-25 (11,5812 seats) while the number of PG seats increased by 39,460 (i.e., 127%) from 2013-14 (31,185 seats) to 2024-25 (73,111 seats)”

    “In the first phase, BHISHM Cubes are being placed in 25 AIIMS and Institutes of National Importance for rapid deployment in the respective region in case of disaster / health emergencies”

    “Union Health Ministry in consultation with the States/UTs is preparing a detailed rollout plan for logistics and training of health professionals for the introduction of the new TB treatment regimen early next year”

    Posted On: 20 SEP 2024 4:48PM by PIB Delhi

    Union Minister of Health and Family Welfare, Shri Jagat Prakash Nadda highlighted the key achievements of the Union Health Ministry in the first 100 days of the government at a press conference, here today. Union Ministers of State for Health and Family Welfare, Shri Prataprao Ganpatrao Jadhav and Smt. Anupriya Singh Patel were also present.

    The Union Health Minister noted that around Rs.15 lakh crores of investment have been made in the last 100 days with speed and scale across different ministries. He noted that the Ministry of Health and Family Welfare has launched several key initiatives aimed at enhancing healthcare delivery and access in India. The following are some of the achievements made in the last 100 days across different health schemes:

    Ayushman Bharat PM-JAY:

    Shri Nadda said that the recent announcement of expansion of the Ayushman Bharat PMJAY scheme to include all senior citizens, irrespective of income group, aged 70 years and above will potentially benefit around 6 crore individuals across 4.5 crore families. Highlighting that Ayushman Bharat is the world’s largest publicly funded health coverage program, Shri Nadda informed that the expanded scheme will be implemented from October this year.

    U-WIN Portal:

    Another significant advancement is the U-WIN Portal which has been developed for full digitization of vaccination services for complete vaccination record of pregnant women and children from birth to 17 years under the Universal Immunization Programme. The citizen-centric services of the digital platform include ‘Anytime Access’ and ‘Anywhere’ vaccination services, Self-Registration by citizens using the U-WIN web-portal or the U-WIN citizen mobile application, automated SMS alerts, universal QR-based eVaccination Certificate and utility to create their Ayushman Bharat Health Account (ABHA) ID for themselves and Child ABHA ID for their children. The portal is in 11 regional languages including Hindi.

    Stating that “the U-WIN portal has been developed for full digitization of vaccination services for complete vaccination record of pregnant women and children from birth to 17 years under the Universal Immunization Programme”, he informed that the portal is already operational on pilot basis. As on 16th September 2024, 6.46 crore beneficiaries have been registered, 1.04 crore vaccination sessions have been held and 23.06 crore administered vaccine doses have been recorded on the portal.

    New TB Treatment Regimen & Made-in-India TB Diagnostics:

    A shorter and more efficacious treatment regimen is now available for use under the National TB Elimination Programme (NTEP) which would help in reducing the treatment duration from 9-12 months to 6 months. It has been validated along with Health Technology Assessment (HTA) by ICMR. Shri Nadda informed that the Union Health Ministry in consultation with the State/UT governments is preparing a detailed rollout plan for logistics and training of health professionals for the introduction of this new regimen early next year. He also highlighted the expected reduction in duration of the treatment regimen in approximately 75,000 DRTB cases across the country.

    In order to ensure country wide coverage for TB and Drug Resistance diagnosis by ‘state of the art’ molecular methods, a new indigenous diagnostic system (Patho detect) has been validated by ICMR, along with field feasibility. Shri Nadda stated that it would lead to reduction in turn-around times for test results, thereby reducing morbidity and mortality of TB patients.

    Deployment of BHISM Cubes:

    BHISHM Cubes are portable and rapidly deployable modular medical facility intended to provide emergency lifesaving clinical care in event of disaster/public health emergencies. Union Health Minister stated that BHISM cubes have the capacity to handle about 200 cases of diverse nature in emergency situations such as trauma, bleeding, burns, fractures, etc. In the 1st Phase, BHISHM Cubes will be placed in 25 AIIMS and Institutes of National Importance (INIs) for rapid deployment in the respective region in case of disaster / health emergencies. States may also deploy at strategic locations subsequently. India has gifted four BHISHM Cubes to Ukraine during the Hon’ble Prime Minister’s visit to the country recently.

    Use of Drone Services:

    Drones service aid in rapid, cost-effective and safe delivery of medical supplies and samples in hard-to-reach and tough terrains. Fifteen (15) AIIMS/INIs/NE institutions have been identified for Drone Services. Drone trials and trainings have been completed in 12 institutes. Shri Nadda said that drones provide safe, accurate reliable pickup & delivery of medicines, vaccines, blood, diagnostic specimens & other life-saving items to difficult-to-reach facilities.

    Medical Education:

    Increase in Medical Colleges:

    The Union Health Minister said that the increase in medical colleges and MBBS and PG seats would lead to increase in the availability of doctors in the healthcare system.

    There is an increase of 8.07% in Medical Colleges from 706 in 2023-24 to 766 in 2024-25. There has been 98% increase in medical colleges from 387 in 2013-14 to 766 in 2024-25. During the same period, 379 new medical colleges have been established and, presently there are 766 (Govt: 423, Pvt: 343) medical colleges in the Country.

    Increase in MBBS seats:

    There is an increase of 6.30 % in MBBS seats from 1,08,940 in 2023-24 to 1,15,812 in 2024-25. MBBS Seats increased by 64,464 (i.e., 125%) from 2013-14 (51,348 seats) to 2024-25 (11,5812 seats).

    Increase in PG seats:

    There is an increase of 5.92% in PG seats from 69,024 in 2023-24 to 73,111 in 2024-25. During the last ten years, the number of PG seats increased by 39,460 (i.e., 127%) from 2013-14 (31,185 seats) to 2024-25 (73,111 seats).

    Operationalization of National Medical Register:

    National Medical Register (NMR) is a comprehensive dynamic database for all allopathic (MBBS) registered doctors in India. NMR is linked with Aadhaar ID of the doctors that ensures the individual’s authenticity.

    Shri Nadda said that NMR being a key component of the country’s Ayushman Bharat digital mission, it would be part of Healthcare Professional Registry (HPR). He further said that NMR will ensure provision of data covering details of around 13 lakh doctors in the country – State-wise, those who have left the country, those who have lost their license to practice, or details of doctors who have lost their lives.

    National Quality Assurance Standards (NQAS):

    Virtual National Quality Assurance Standards (NQAS) Assessment of Ayushman Arogya Mandir -Sub Centre:

    NQAS are set of standards designed to ensure and improve the quality of healthcare services in District Hospitals, Community Health Centres, Ayushman Arogya Mandir – Primary Health Centre, Ayushman Arogya Mandir – Urban Primary Health Centre and Ayushman Arogya Mandir – Sub Health Centre.

    Shri Nadda said that as on 31st August 2024, 13,782 Public Health Facilities are NQAS Certified. A total of 5,784 Public Health Facilities have been NQAS Certified from 1st April 2024 till date, in which 3,134 facilities (including 2,734 Ayushman Arogya Mandir – Sub Centers) have been NQAS certified at all levels in the first 100 days.

    The virtual National Quality Assurance Standards assessments for Ayushman Arogya Mandir-Sub Centres commenced on August 1st after requisite trainings. 58 assessments have been done, with 104 more assessments scheduled to take place by end of September, 2024. “This will give an impetus to ensuring Quality standards for all levels of public health care facilities improving comprehensive primary healthcare of citizens” Shri Nadda said.

    National Quality Assurance Standards for Integrated Public Health Laboratories:

    Release of NQAS for IPHLs spread across district level health facilities is aimed at improving the quality and competence of management and testing systems in IPHLs. This will positively impact the reliability of test results and enhance the quality of diagnostics & patient care.

    Establishment of AIIMS in Darbhanga:

    Union Cabinet has approved setting up of new AIIMS at Darbhanga on 15.09.2020 at an estimated cost of Rs. 1264 Crore. Shri Nadda  stated that the issue of allotment of land for AIIMS Darbhanga, which was pending for over 3 years has been finally settled and the Government of Bihar has allotted and since handed over 150.13 acres of land on 12.8.2024 required for AIIMS Darbhanga. He further noted that AIIMS institutions would serve to fill the gap in affordable tertiary healthcare services and reduce out of pocket expenditure.

    Completion of Super Specialty Blocks:

    Completion of construction works of Super Specialty Blocks (SSB) has been taken up as upgradation projects of existing Government Medical Colleges under PMSSY of four Government Medical Colleges in Bihar, these include:

    a) Jawaharlal Nehru Medical College, Bhagalpur

    b) Anugrah Narayan Magadh Medical College, Gaya

    c) Sri Krishna Medical College, Muzaffarpur

    d) Darbhanga Medical College and Hospital.

    The launch of Super Specialty Blocks in Government Medical Colleges (Bihar) would serve to fill the gap in affordable tertiary healthcare services and reduce out of pocket expenditure, Shri Nadda highlighted.

    Launch of Food Import Rejection Alerts:

    The Union Minister also highlighted the introduction of the Food Import Rejection Alerts (FIRA), an online portal designed to notify the public and relevant food safety authorities about food import rejections at Indian borders and training of food street vendors by the FSSAI. The portal has been launched today at the second edition of the Global Food Regulators Summit 2024 hosted by FSSAI at Bharat Mandapam.

    Shri Apurva Chandra, Union Health Secretary, Ministry of Health and Family Welfare; Smt. Punya Salila Srivastava, Officer on Special Duty, Ministry of Health and Family Welfare; Smt. LS Changsan, Addl. Secretary, Ministry of Health and Family Welfare; Shri Dhirendra Ojha, Principal DG, PIB, Ministry of Information and Broadcasting and senior officials of the Union Health Ministry were present on the occasion.

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  • MIL-OSI Asia-Pac: DFS drives expansion of digital payments in India and abroad

    Source: Government of India

    DFS drives expansion of digital payments in India and abroad

    Digital payment transactions volume grew to 18,737 crore in FY 2023-24 from 2,071 crore in FY 2017-18 at Compounded Annual Growth Rate (CAGR) of 44%; with value of transactions at ₹3,659 lakh crore in FY23-24 from ₹1,962 lakh crore in FY17-18 at CAGR of 11%

    UPI transactions volume grew to 13,116 crore in FY 2023-24 from 92 crore in FY 2017-18 at CAGR of 129%; with value of UPI transactions reaching ₹200 lakh crore trillion in FY23-24 from ₹1 lakh crore in FY17-18 at CAGR of 138%

    UPI now seamlessly facilitates live transactions in 7 countries, including key markets such as UAE, Singapore, Bhutan, Nepal, Sri Lanka, France, and Mauritius

    Posted On: 20 SEP 2024 3:31PM by PIB Delhi

    The Department of Financial Services (DFS), Ministry of Finance, plays a critical role in driving the promotion of digital payments in the country.

    Efforts to accelerate the adoption of fast payment system like the Unified Payments Interface (UPI) has revolutionised the way financial transactions are conducted, enabling real-time, secure, and seamless payments for millions.

    This initiative aligns with the Government’s vision of a cashless and inclusive economy, empowering every citizen in their financial decision.

    In comparison with previous fiscal years, the digital payments landscape has demonstrated remarkable expansion in Financial Year (FY) 2023-24. Key insights include:

    Growth in Digital Payment Transactions:

    Digital payments in India have witnessed significant growth, with the total number of digital payment transactions volume increased from 2,071 crore in FY 2017-18 to 18,737 crore in FY 2023-24 at Compounded Annual Growth Rate (CAGR) of 44%. Furthermore, during the last 5 months (April-August) of the current financial year 2024-25, the transaction volume has reached to 8,659 crore.

    Source: RBI, NPCI & Banks

    The value of transactions has grown from ₹1,962 lakh crore to ₹3,659 lakh crore at CAGR of 11%. Additionally, in the last 5 months (April-August) of the current financial year 2024-25, the total transaction value has surged to an impressive ₹1,669 lakh crore.

    Source: RBI, NPCI & Banks

    UPI’s Continued Success:

    UPI remains the cornerstone of India’s digital payment ecosystem. UPI has revolutionised digital payments in the country, UPI transactions have grown from 92 crore in FY 2017-18 to 13,116 crore in FY 2023-24 at CAGR of 129%. Furthermore, during the last 5 months (April-August) of the current Financial Year 2024-25, the transaction volume has reached 7,062 crore.

    The ease of use facilitated by growing network of participating banks and fintech platforms, has made UPI the most preferred mode of real-time payments for millions of users across the country.

    Source: NPCI

    The value of UPI transactions has grown from ₹1 lakh crore to ₹200 lakh crore at CAGR of 138%. Additionally, in the last 5 months (April-August FY2024-25), the total transaction value has surged to an impressive ₹101 lakh crore.

    Source: NPCI

    UPI: P2M and P2P Transactions (by Volume in crore) for Aug 2024

    The contribution of P2M transactions reached 62.40% in Aug’ 2024, where 85% of these transactions are up to a value of ₹500. This indicates the trust that UPI enjoys among citizens for making low value payments.

    UPI and RuPay Global Expansion:

    India’s digital payments revolution is extending beyond its borders. Both UPI and RuPay are rapidly expanding globally, enabling seamless cross-border transactions for Indians living and traveling abroad. Presently, UPI is live in 7 countries, including key markets such as UAE, Singapore, Bhutan, Nepal, Sri Lanka, France, Mauritius, allowing Indian consumers and businesses to make and receive payments internationally. This expansion will further bolster remittance flows, improve financial inclusion, and elevate India’s stature in the global financial landscape. As per ACI Worldwide Report 2024, in 2023 around 49% of the global real-time payment transactions is happening in India.

    India is rapidly emerging as a global leader in digital payments. With UPI’s global expansion and the continued rise of digital transactions, India is setting new benchmarks for financial inclusion and economic empowerment of common citizen.

    Department of Financial Services remains committed to advancing digital payment solutions that are secure, scalable, and inclusive, while also exploring new avenues to strengthen India’s position in the global financial ecosystem.

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  • MIL-OSI Asia-Pac: Department of Posts played a pioneering role in distributing toolkits to beneficiaries under the PM Vishwakarma Scheme, first in Mahesana district of Gujarat

    Source: Government of India

    Department of Posts played a pioneering role in distributing toolkits to beneficiaries under the PM Vishwakarma Scheme, first in Mahesana district of Gujarat

    Postmaster General Shri Krishna Kumar Yadav reviews Progress of Postal Services in Mahesana Division, Emphasised achievement of targets

    Not Just Letters and Parcels, the Department of Posts is Connecting People with Various Government Welfare Schemes at door step – Postmaster General Shri Krishna Kumar Yadav

    Department of Posts Plays a Key Role in Delivering Toolkits to Artisans/Beneficiaries under the PM Vishwakarma Scheme – Postmaster General Krishna Kumar Yadav

    Posted On: 20 SEP 2024 3:56PM by PIB Ahmedabad

    In addition to delivering letters and parcels, Department of Posts is now ensuring that various government welfare schemes and their benefits reach to all citizens. Department of Posts has access to last mile of the country and is equally involved in the joys and sorrows of the people. Postmaster General, North Gujarat Region, Shri Krishna Kumar Yadav, expressed these views during his visit to the Mahesana Head Post Office on 20th sepetember 2024. Under the campaign ‘Ek Ped Maa ke Naam’, tree plantation was conducted at the Mahesana Head Post Office to spread the message of environmental protection. Superintendent of Post Offices, Mahesana Division Shri H.C. Parmar welcomed the Postmaster General and provided detailed information about the progress of postal services in Mahesana.”

    Postmaster General Shri Krishna Kumar Yadav delivered a cheque for ₹10 lakh as a claim payment to the family of Shri Babubhai Rabari from Mahesana, who had taken the Tata Group’s accident insurance policy for just ₹399 through India Post Payments Bank, after his untimely death.

    Postmaster General Shri Krishna Kumar Yadav added that the Department of Posts is also playing a vital role in the PM Vishwakarma Scheme. Under this scheme, toolkits are being provided to artisans/beneficiaries through the Department of Posts. Department of Posts led by distributing the first toolkit in the country to Shri Rameshbhai Babubhai Senma, a resident of Jagannathpura village in the Mahesana Postal Division, North Gujarat Region.

    Shri Krishna Kumar Yadav told that the PM Vishwakarma Scheme has been launched by the Ministry of Micro, Small, and Medium Enterprises (M/o MSME) for the upliftment of traditional artisans and craftsmen engaged in various trades like blacksmithing, goldsmithing, pottery, carpentry, and sculpting, among others. The aim is to preserve cultural heritage and integrate these artisans into the formal economy and global value chains. The scheme is being implemented through the National Small Industries Corporation (NSIC). Toolkits for 18 identified trades under this scheme will be distributed to artisans/beneficiaries through post offices. The Department of Posts is the logistics partner for the Ministry of MSME in this scheme and will ensure the smooth transportation and delivery of toolkits to beneficiaries across the country.

    Postmaster General Shri Krishna Kumar Yadav conducted a detailed review of the progress of postal services in the Mahesana Division. Currently, there are a total of 6.77 lakhs savings accounts, 79,000 IPPB accounts, 66,000 Sukanya Samriddhi accounts, and 4,000 Mahila Samman Savings Certificates opened in Mahesana Division. Additionally, 61 villages have been covered as ‘Sampoorna Sukanya Samriddhi Grams,’ 100 villages covered as Sampoorna Bima Grams,’ and 5 villages designated as Five-Star Villages. Through the Passport Seva Kendra at the Mahesana Head Post Office, more than 7,015 people have obtained passports in this financial year. 14,000 people have enrolled or updated their Aadhaar through the post office, while 70,000 people have benefited from CELC through India Post Payments Bank. More than 69,000 individuals received payments totaling ₹22.4 crore through the Aadhaar Enabled Payment System at door step.

    During his visit to the Mahesana Head Post Office, Shri Krishna Kumar Yadav emphasized the importance of good behavior towards customers. Postmaster General emphasized the importance of conducting extensive campaigns and Dak Chaupals in the remaining days of the financial year to achieve the allocated targets for various services. He also highlighted the need to connect the citizens with these services, ensure prompt resolution of public grievances, and responsiveness towards customers.

    During this visit, Superintendent of Post Offices Shri H.C. Parmar, Assistant Superintendent Shri R.M. Rabari, Shri N.K. Parmar, Shri Vishal Brahmbhatt, IPPB Branch manager Shri J. Rohit and Postmaster, Mahesana HO Shri D G Patel were present.

    *****

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  • MIL-OSI USA: NIST Funds Climate Measurements Center of Excellence at the University of Vermont

    Source: US Government research organizations

    White Oak River, North Carolina: Wetlands like these are useful for preventing floods, reducing erosion, and preserving biodiversity. But every wetland is unique, and it is important to understand the impacts of climate on a local level.

    Credit: Norm Lane/Shutterstock

    GAITHERSBURG, Md. — The U.S. Department of Commerce’s National Institute of Standards and Technology (NIST) has entered into a cooperative agreement with the University of Vermont (UVM) to establish a Climate Measurements Center of Excellence. The agreement includes an award of $2.7 million appropriated by Congress for this purpose and was made following a competitive process announced earlier this year.

    “Our goal is to advance trust in measurements and technology in service to the nation. Effective measurements are key to understanding the dynamics of complex climate systems, and this center of excellence can amplify our impact and enable the development of equitable climate adaptation plans,” said Chuck Romine, the associate director for laboratory programs at NIST. 

    Climate impacts are felt differently from one region of the U.S. to another, and for communities to develop adaptation plans, they need more granular information than is currently available. The Climate Measurements Center of Excellence will support communities by providing standards frameworks, regional data, and the tools communities need to make decisions.

    Climate impacts at the community level are expected to be diverse, complex and interrelated. Examples of possible impacts include diminished agricultural productivity, poor air quality, increased food costs, supply chain and commercial logistics disruptions, and public health issues. Preparing for and mitigating these impacts could be challenging for any one community alone. Therefore, the center will bring local climate researchers together to share resources and ideas and will serve as a hub for stakeholders including government climate offices, universities, nonprofits, industry and NIST. 

    The new center of excellence will establish and coordinate research teams that combine resources from the physical, biological and social sciences. It will also support the development of national standards and measurements for tracking hazards and risks associated with climate impacts. Throughout the three-year funding period, NIST will support the center through leadership, collaboration and community coordination.

    MIL OSI USA News –

  • MIL-OSI USA: Public-Interest Groups Defend FCC’s Broadcast-Ownership Rules Promoting Competition, Diversity and Localism on Air

    Source: Communications Workers of America

    WASHINGTON — On Friday, six public-interest, media-reform, media-justice, and labor organizations joined to file an amicus curiae brief defending the Federal Communications Commission’s broadcast ownership rules against an industry challenge in the Eighth Circuit Court of Appeals.

    The six groups are Common Cause, the Communications Workers of America-National Association of Broadcast Employees and Technicians, Free Press, the Future of Music Coalition, the musicFIRST Coalition, and the United Church of Christ Office of Communication, Inc. (“UCC Media Justice”). All of these entities have long participated in FCC proceedings and court cases on this issue. Attorneys Cheryl Leanza and Rachel Stillwell authored and filed the brief on the groups’ behalf.

    The FCC’s media-ownership rules are designed to promote competition, viewpoint diversity, ownership diversity, and the delivery of local content by broadcast stations licensed to serve communities all across the United States. A series of deregulatory decisions the agency has made over the last two decades has significantly pared back these rules. The FCC undergoes a congressionally mandated review of these regulations every four years.

    Prior legal challenges from both industry groups and public-interest organizations have played out in the Third Circuit Court of Appeals. This time, the broadcast industry brought its suit in a different circuit. Broadcasting conglomerates and the trade groups representing them argue that the Biden FCC should eliminate more of the few ownership limits that remain on the books.

    As today’s amicus brief explains, broadcast lobbyists suggest that their businesses should no longer be regulated because people already have access to the same kinds of content on the internet. The broadcasters’ assertion, the brief says, would “leave out of the picture the many Americans who do not fit their vision of a life lived completely online, consuming only national news and culture.” As the filing notes, millions of people in the United States still need to or choose to rely primarily on free broadcasting services for local news, cultural content, and emergency information that broadcast outlets distribute more reliably than internet sources.

    Free Press Vice President of Policy and General Counsel Matt Wood said:

    “As always, the broadcast industry wants to have its cake and eat it too. Lawyers for giant media conglomerates argue that free and over-the-air local broadcasting remains a unique and special service, yet also insist that their industry should be completely unfettered from any common-sense ownership limits because of competition from internet sources. They can’t have it both ways. For broadcasting to remain a source of diverse and truly local content—serving populations that national and homogenized news sources so often ignore—the Federal Communications Commission must retain its rules preventing a single company from dominating the airwaves or owning quite literally every broadcast outlet in the same city.”

    United Church of Christ Media Justice Ministry Policy Advisor Cheryl Leanza said:

    “Broadcast media is unique: Local television engenders more trust, more local news, and thus more local engagement on everything from elections to community needs. Local radio is an important means to preserve and enliven local culture. Previous FCC decisions permitting vast consolidation have been disastrous—for the court to reverse the most recent FCC decision to keep the remaining rules and close loopholes would be even more so. In line with multiple other federal court decisions, the Eighth Circuit should reject any hint that each iteration of the quadrennial-review process mandates further consolidation.”

    Common Cause Director for Media and Democracy Ishan Mehta said:

    “In this era of media consolidation, we need local television and radio stations to provide a much-needed avenue for the public to hear diverse voices as they seek to make informed decisions at the ballot box. When media outlets are owned by a small number of corporations, it narrows the available perspectives and stifles the investigative journalism that our democracy depends on. We ask the court to preserve the FCC’s role in protecting diversity and furthering competition to ensure a healthy media ecosystem for all Americans.”

    NABET-CWA President Charlie Braico said:

    “Locally owned broadcast television and radio stations and the jobs they create are critical to the well-being of our communities. Consolidation in the media industry and Wall Street’s downsizing and stripping of local news operations for profits, along with the ‘narrowcasting” of information on the internet, has left Americans more isolated and divided than ever. The FCC’s ability to enforce local broadcast ownership rules is critical to preventing further harm.”

    Future of Music Coalition Director Kevin Erickson said:

    “Radio is a medium uniquely equipped to uplift the voices of diverse local communities expressed through diverse American musical traditions. Sadly, as we’ve seen over the years, ownership consolidation has empowered large companies and private equity firms to move away from the live and local emphasis that makes AM/FM radio special, replacing regional character with narrow formats and repetitive playlists presented by robots. We’re proud to join with a diverse array of groups in defending the FCC’s important role in protecting ownership diversity and healthy competition.”

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    About CWA: The Communications Workers of America represents working people in telecommunications, customer service, media, airlines, health care, public service and education, manufacturing, tech, and other fields.

    cwa-union.org @cwaunion

    MIL OSI USA News –