Category: Trade

MIL-Evening Report: The Coalition wants to increase Medicare psychology rebates from 10 to 20 sessions. Here’s what happened last time

Source: The Conversation (Au and NZ) – By Joanne Enticott, Associate Professor, Monash Centre for Health Research and Implementation, Monash University

Monkey Business Images/Shutterstock

The most disadvantaged Australians have long experienced higher rates of mental illness than the broader population. But they also access fewer mental health services.

Increasing everyone’s access to mental health care led to the creation of the Better Access initiative, which subsidised psychology sessions under Medicare. Officially called Better Access to Psychiatrists, Psychologists and General Practitioners through the Medicare Benefits Schedule, the Howard government launched the initiative in November 2006.

During COVID, the former Morrison Coalition government temporarily expanded the yearly cap on the number of psychology sessions, from ten to 20. The Labor Albanese government reverted to ten sessions at the end of 2022.

Now the Coalition says if elected at this year’s polls, it will take the number of sessions back to 20.

But did capping sessions at 20 increase access to mental health care, especially for disadvantaged Australians? Or are there more effective ways to achieve this?

How does it work?

Australians can access up to ten rebated psychology sessions annually. Patients need to have a mental health treatment or management plan from their GP or psychiatrist.

The Australian Psychological Society recommends consultation fees of around $311 for a standard 46- to 60-minute consultation.

The typical Medicare rebate is $141.85 per session with a clinical psychologist and $96.65 with other registered psychologists. (All psychologists are university qualified mental health professionals, but clinical psychologists have more qualifications.)

Psychologists can choose their own fees. They can bulk bill (no out of pocket cost for patients) or charge consultation fees, leaving some patients hundreds of dollars out of pocket for each session.

How did access change during COVID?

To assess the changes during COVID, we need to consider three components: number of people accessing services, service use rates (number of sessions per population) and the average number of sessions per patient.

1. Number of people accessing services

In 2020-21, all states saw a 5% jump in the number of people accessing Medicare mental health services, coinciding with the first year of the COVID pandemic.

In the three years prior to this, there was an average yearly increase of about 3% more people.

However, a 2022 independent evaluation of the Better Access initiative showed that between 2018 and 2021, new users declined from 56% to 50%, with the steepest drop between 2020 and 2021.

This reduction in new users coincided with the temporary increased cap to 20 sessions.

Australians from disadvantaged backgrounds continued to have poorer access to psychologists than those from wealthier population groups, despite an increase in the number of sessions.

2. Service use rates (number of sessions per population)

Service use rates tell us how much a particular service is being used each year. To compare service use rates between different years, and because the Australian population is growing yearly, we report service use rates per 1,000 people in the population.

In 2020-21, service use rates for clinical psychologists and other psychologists increased by 18%. This was a large increase compared to the typical 5% increases in previous years. This persisted in the next two years.

When the cap on number of sessions was reduced to ten sessions, there was a small drop in service use rates, but it didn’t return to the pre-pandemic levels.

Most clients use ten or fewer sessions a year.
Ben Bryant/Shutterstock

3. Average number of sessions people used

The increase in services occurring in the first two years of the COVID pandemic (and around the time as the cap temporarily increased from ten to 20 sessions), resulted in a small increase in the average number of sessions per patient.

In the ten years between 2013-14 and 2022-23, average number of sessions with a clinical psychologist increased from five to six sessions whereas the average number of sessions with other psychologists increased from four to five sessions.

Importantly, more than 80% of people received fewer than ten sessions.

What does this tell us?

Overall, most people used ten or fewer sessions, even when up to 20 sessions were available.

Some extra services were provided to existing clients during COVID and this may have actually prevented new people from receiving services.

So the evidence suggests simply increasing the number of rebated psychology sessions from ten to 20 for everybody isn’t the most effective approach.

What should Labor and the Coalition do instead?

We don’t limit the number of chemotherapy sessions for cancer patients, so why do we cap evidence-based psychological treatments for mental illness?

Instead of capping access to Medicare rebates for mental health care, access should be based on a person’s needs and treatment outcomes. The number of sessions should be determined collaboratively between the person and the provider, ensuring people receive the appropriate level of evidence-based care for their condition.

Measure outcomes

Currently in Australia for Medicare-funded mental health services, we only measure service activity. Patient outcomes are not collected, which hinders the development of value-based mental health care.

Without collecting outcomes, current initiatives to address inequities are only partially informed and may not work as intended.

We urgently need to establish a set of outcomes (patient-reported outcome measures and experience measures) through consensus with the community, providers, professional organisations and governments.

Address affordability

We should also address inequities, such as gap fees that act as barriers to accessing services.

Greater rebates and bulk billing incentives for vulnerable people can assist those with less money.

Offer other evidence-based support

Evidence also suggests people with mild to moderate mental health problems can benefit from psychological and social supports provided by people who are non-health-care professionals, such as the Friendship Bench and digital mental health programs.

We need to develop and invest in a range of services that cater to differing levels of need. This would ensure more specialised services are available for those with higher complexity or severity.

The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

– ref. The Coalition wants to increase Medicare psychology rebates from 10 to 20 sessions. Here’s what happened last time – https://theconversation.com/the-coalition-wants-to-increase-medicare-psychology-rebates-from-10-to-20-sessions-heres-what-happened-last-time-249606

MIL OSI Analysis – EveningReport.nz –

March 28, 2025
MIL-OSI Video: Slavery will persist until we adopt a holistic, comprehensive & egalitarian attitude – Wole Soyinka

Source: United Nations (Video News)

Remarks by Wole Soyinka, keynote speaker and Nobel Prize Laureate in Literature, during the International Day of Remembrance of the Victims of Slavery and the Transatlantic Slave Trade.

He said, “Until we adopt a holistic, comprehensive and egalitarian attitude to the phenomenon of slavery, I am afraid it is going to be with us for a very long time.”

Every year on 25 March, the International Day of Remembrance of the Victims of Slavery and the Transatlantic Slave Trade offers the opportunity to honour and remember those who suffered and died at the hands of the slavery system. The International Day also aims to raise awareness about the dangers of racism and prejudice today.

https://www.youtube.com/watch?v=p7V74lJKocs

MIL OSI Video –

March 28, 2025
MIL-OSI: Bitget Lists Walrus (WAL) in the Innovation and Web3 Zone

Source: GlobeNewswire (MIL-OSI)

VICTORIA, Seychelles, March 27, 2025 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange and Web3 company, has announced the listing of Walrus (WAL) on its platform. Trading for WAL/USDT will commence on 27 March 2025, 10:00 (UTC), with a deposit available now and a withdrawal available on 28 March 2025, 11:00 (UTC).

Walrus is a decentralized storage network that stores and delivers raw data and media files, including videos, images, and PDFs. Walrus splits data into small pieces and distributes them across multiple nodes globally, ensuring data availability even in challenging situations.

Built on the Sui Network with smart contracts, Walrus improves on protocols like Filecoin and Arweave for programmable, scalable storage. Metadata and proof of availability are stored on Sui, allowing users to leverage the composability, expressivity, and security offered by Sui and the Move programming language. Storage capacity can be tokenized and used as a programmable asset, allowing developers to integrate storage with apps on Sui. However, Walrus isn’t limited to Sui, it’s available to builders on other blockchains like Solana and Ethereum.

The inclusion of Walrus provides an opportunity for users to engage with an innovative decentralized storage project enhancing data security and accessibility. It expands Bitget’s portfolio of assets available in the Innovation and Web3 Zone, underlining the platform’s commitment to offering promising projects which aligns with user needs and decentralized principles of blockchain technology.
The Walrus listing further enriches the portfolio of assets available in the Innovation and Meme Zone, a segment customized for tokens that show creativity and cultural relevance. Bitget continues to position itself as a hub for innovative digital assets, enabling users to explore new opportunities in a fast-paced and ever-changing market.

For more information on Walrus (WAL), users can visit here.

About Bitget
Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 100 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, token swap, NFT Marketplace, DApp browser, and more.
Bitget is at the forefront of driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World’s Top Football League, LALIGA, in EASTERN, SEA and LATAM markets, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency.

For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet
For media inquiries, users can contact: media@bitget.com

Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to the Terms of Use.

Contact

Simran Alphonso
media@bitget.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0e0f1dab-b978-4cbd-be2d-b441f546e517

The MIL Network –

March 28, 2025
MIL-OSI: XRP Community Goes All in on XploraDEX, The First AI-Powered DEX Sparks Presale Frenzy as Traders Race for $XPL
Source: GlobeNewswire (MIL-OSI)

ZURICH, March 27, 2025 (GLOBE NEWSWIRE) — XploraDEX, the first-ever AI-powered decentralized exchange built on the XRP Ledger, has officially kicked off its $XPL presale and the crypto world is taking notice.

With wallet data confirming early participation from XRP whales and DeFi strategists, the project is gaining momentum as a potential 100x breakout play in 2025. The $XPL Presale has become the go-to event for XRP holders looking for real innovation, real utility, and real returns.

Why XploraDEX Has Everyone Talking

XploraDEX isn’t offering recycled DeFi mechanics. It’s delivering something brand new:
- AI That Trades Smarter Than You – Machine learning models that analyze markets in real-time and execute trades with precision
- Built for XRPL Speed – Sub-second settlement, micro-fees, and scalability to rival any chain
- Smart Liquidity Management – AI constantly optimizes routing and pool balancing to protect against slippage
- A Dashboard That Thinks – Predictive analytics, volatility alerts, and high-probability setups built into every user’s toolkit
This isn’t just a new DEX—it’s the first intelligent trading platform ever built for XRP users.

BUY $XPL TOKENS ON PRESALE

With presale prices significantly lower than projected listing levels, $XPL offers investors early access to an ecosystem designed for long-term adoption.

Presale Is Filling Fast – Here’s Why You Need In Now

XRP’s top traders and communities are already talking. Influencers are watching. The market is preparing. If you’ve been waiting for the next big DeFi opportunity on XRPL—this is it.

Presale Highlights:
- Discounted $XPL pricing for early supporters
- Exclusive access to beta AI tools at launch
- Extra rewards for early stakers and liquidity providers
- Community voting rights from Day 1
$XPL Pre-Sale Round is Live!

The XPL Token Presale is already attracting major interest, early investors will gain first-mover advantages!

Buy $XPL Tokens Now: https://sale.xploradex.io

Whales are already accumulating. You don’t want to be late.

Conclusion: The Future of XRP Trading Starts Now

We’re entering a new era one where traders don’t just react to markets… they stay ahead of them. XploraDEX is building that future with AI and XRP at its core. Whether you’re a seasoned DeFi pro or a newcomer ready to go beyond basic swaps, $XPL is your chance to get in early on the next trading evolution.

Join the $XPL Presale Today: https://sale.xploradex.io

Stay connected and Join the XploraDEX AI Revolution

Website | $XPL Token Presale | X | Telegram

Contact:
Oliver Muller
oliver@xploradex.io
contact@xploradex.io

Disclaimer: This press release is provided by the XploraDEX. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.

Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.

Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.

Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a33af546-f13f-470e-9ef0-59b1563faee7

The MIL Network –
March 28, 2025
MIL-OSI: Dominican Republic: A Global Benchmark for Investment
Source: GlobeNewswire (MIL-OSI)

WASHINGTON, March 27, 2025 (GLOBE NEWSWIRE) — In a global context marked by increasing economic uncertainty and market volatility, the Dominican Republic is consolidating itself as a global benchmark for foreign investment, especially for companies seeking new destinations from which to operate to reduce costs, mitigate risks, and strengthen the resilience of their supply chains.

With a GDP growth of 5.0% in 2024, the highest in all Latin America and the Caribbean, the country remains one of the most dynamic, outperforming larger economies. For the coming years, this impressive dynamism is expected to continue, with IMF growth projections of 4.5% and 5.1% for 2025 and 2026, respectively, driven by solid political and social stability, a robust financial system, and favorable economic policies for business development. This extraordinary performance has also strengthened the confidence of international investors, reflected in the improvement of the country’s credit rating by major rating agencies such as S&P Global and Fitch Ratings.

A Media Snippet accompanying this announcement is available by clicking on this link.

Thus, beyond its idyllic landscapes, the Dominican Republic has managed to establish itself as a key destination for Foreign Direct Investment (FDI). In 2024, according to the United Nations Conference on Trade and Development (UNCTAD), FDI in the country increased by 7.1%, representing 41% of the capital flows captured by Central America.

The Dominican Republic Industrial Tech revolution is no longer a secret – it’s a movement. This dynamic shift is not only transforming the country’s industrial landscape but is also positioning the Dominican Republic as a central hub for technological innovation, creating exciting opportunities for growth and international partnerships.

Global companies continue to choose the Dominican Republic to relocate their operations in key sectors such as medical and pharmaceutical products, electrical and electronic devices, textile manufacturing, tobacco and its derivatives, jewelry, among others. Clearly, this outlook shows that nearshoring is not an emerging trend, but a reality in the country. We’ve seen how innovation, investment, and talent are transforming the nation into a powerhouse of technological advancement.

Free Zones in the Dominican Republic: Engine of Economic Diversification and Nearshoring

The growing interest in creating more resilient, sustainable, and closer supply chains to end consumer markets has made nearshoring a key competitive strategy for companies. In this context, the Dominican Republic, located just two hours by air and two days by sea from the United States, offers multiple competitive advantages:
- Geographic proximity to the world’s largest consumer markets.
- Legal security and clear, predictable rules of the game.
- Top-level connectivity and logistics infrastructure, with 8 international airports, 18 seaports, 5 logistics centers, and 33 logistics operator companies. This infrastructure includes ports that have positioned themselves as important terminal operators, playing a strategic role in the sustainability of global supply chains.
- Several Free Trade Agreements, including DR-CAFTA and EPA, which open the doors to more than 900 million potential consumers worldwide.
- Competitive operational costs.
These extraordinary advantages, combined with the attractive tax incentives offered by the Free Zones Regime, make the Dominican Republic an unbeatable investment destination for companies looking to relocate or expand their manufacturing operations.

Free Zones, which have been successfully implemented for over half a century without modifications, have played a crucial role in the industrial and social development of the country, attracting the attention of global companies, including those on the Fortune 500 list, and consolidating themselves as a key pillar of the economy. Their main benefits include:
- 100% tax exemptions on national and local taxes.
- Access to a skilled and competitive workforce, with experience in advanced manufacturing processes.
- Specialized training and development programs.
- Simplified customs processes that streamline export logistics.
- Competitive wage structures tailored to the Free Zones Regime.
- Parks Operators which offer business services and solutions to facilitate the operations of Free Zones companies.
Clearly, this is an exceptional regime for companies interested in developing operations with certainty and predictability, strengthening their supply chains, and successfully navigating disruptions and changes in the global environment.

About the Ministry of Industry, Commerce, and MSME’s (MICM)
MICM is the government agency responsible for the formulation, adoption, monitoring, evaluation, and control of policies in the fields of industry, exports, foreign trade, free zones, special regimes, and SMEs.

Contact Information

Ministry of Industry, Commerce, and MSME’s (MICM)
Vice Ministry of Free Zones and Special Regimes
(1) 809-685-5171 ext. 1017
www.micm.gob.do

For more information, visit:
www.drfreezones.com

The MIL Network –
March 28, 2025
MIL-OSI USA: Boulder, Colorado Named New Host of Sundance Film Festival Beginning in 2027

Source: US State of Colorado

Press conference to be held at 2 p.m. today in downtown Boulder

BOULDER — Today, the Sundance Institute named Boulder, Colorado as the new host of the Sundance Film Festival starting in 2027. To celebrate the announcement, a press conference will be held at 2 p.m. today, March 27, in front of the Boulder Theater on the southwest corner of 14th and Spruce in downtown Boulder, Colorado. State officials, including Gov. Polis, Sundance Institute representatives, and Visit Boulder are all expected to speak. Members of the media who plan to attend should RSVP to Ally Sullivan at ally.sullivan@state.co.us.

“I’m beyond excited to welcome the Sundance Film Festival to Colorado starting in 2027. Powerful films tell our stories; who we were, who we are, and who we aspire to be. Here in Colorado we also celebrate the arts and film industry as a key economic driver, job creator, and important contributor to our thriving culture. Now, with the addition of the iconic Sundance Film Festival, we can expect even more jobs, a huge benefit for our small businesses including stores and restaurants, and to help the festival achieve even greater success. Thank you to the Sundance Film Festival and all of the partners including the City of Boulder, Visit Boulder, the Boulder Chamber of Commerce, and I also want to thank the bipartisan legislators and leadership who have worked tirelessly to make this possible,” said Governor Jared Polis.

Today’s announcement follows the submission of a winning proposal by the Boulder Convention and Visitors Bureau (Visit Boulder) with support from the Colorado Office of Economic Development and International Trade (OEDIT), the Colorado Office of Film Television and Media (COFTM), OEDIT’s Business Funding & Incentives Division, Colorado Creative Industries (CCI), the Colorado Tourism Office (CTO) and a regional coalition of partners, including the City of Boulder, the Boulder Chamber, the University of Colorado Boulder, and the Stanley Film Center. The proposal to host the Sundance Film Festival in Boulder has also secured bipartisan support, including the sponsors of HB25-1005, which is still moving through the legislative process, House Majority Leader Monica Duran, Rep. Brianna Titone, Sen. Judy Amabile and Sen. Mark Baisley.

“We’re beyond excited that Boulder has been chosen as the future home for the Sundance Film Festival. With its thriving creative spirit, stunning mountain backdrop, and welcoming community, Boulder offers a truly one-of-a-kind experience for filmmakers and attendees alike. This moment is a testament to what happens when a community comes together to champion art, culture, and connection. Congratulations, Boulder and all of Colorado — this is our moment to shine!” said Charlene Hoffman, CEO of Visit Boulder.

Through this historic opportunity, Colorado will honor the Festival’s roots in the mountain west, while supporting its ongoing growth and success and boosting the state’s creative economy. The Festival’s presence in Boulder will benefit the region and beyond, increasing tourism and boosting sales to restaurants and small businesses during a quiet time of year, while bolstering Colorado’s creative economy and generating new jobs for Coloradans.

“Colorado has long been known for its culture of collaboration, and that spirit was on full display throughout the proposal process. Recognizing the opportunity to strengthen our creative economy, create new jobs for Coloradans, boost tourism and elevate Colorado on the global stage, a diverse group of partners came together to showcase Colorado as the ideal next home for the Sundance Film Festival. The relationships we have built and strengthened, especially our partnership with the Sundance Institute, will ensure the Festival’s next act is a tremendous success,” said OEDIT Executive Director, Eve Lieberman.

“We are thrilled to welcome the Sundance Film Festival to Colorado and work with our new partners at the Sundance Institute to ensure a smooth transition to Boulder in 2027. We can think of no better partner to elevate filmmaking and storytelling in Colorado and look forward to celebrating the many creative milestones that lie ahead,” said Colorado Film Commissioner, Donald Zuckerman. “With our world-renowned Rocky Mountain landscapes, well-established creative communities, strong hotel bed base, and robust domestic and international connectivity through Denver International Airport, Colorado is the perfect stage for the Sundance Film Festival’s next act. Congratulations to Boulder, and welcome to our new Festival partners!” said Colorado House Majority Leader Monica Duran.

“Hosting the Sundance Film Festival is an incredible win for the Boulder region and the state of Colorado. The 2024 festival generated $132 million in gross domestic product, created 1,730 jobs paying $69.7 million in wages, and attracted 24,000 out-of-state visitors who spent an average of $735 a day. We expect to see a similar impact for Coloradans and look forward to welcoming the Festival in 2027,” said Colorado Rep. Brianna Titone.

“The Tax Incentive for Film Festivals is advancing through the Colorado legislature with bipartisan support, paving the way for today’s historic announcement and demonstrating our state’s commitment to ensuring the success of the Sundance Film Festival in Colorado. This exciting news will elevate our creative industries and create new jobs for Coloradans for years to come,” said Colorado Sen. Judy Amabile.

“Today’s announcement is a tremendous win for Colorado small businesses. We welcome the Sundance Film Festival making its new home in Boulder. This will boost sales at restaurants, retailers and other small businesses throughout the region that rely on tourism, bringing much needed revenue to Colorado communities during a quiet time of year,” said Colorado Sen. Mark Baisley.

About Visit Boulder

Visit Boulder, the Convention and Visitors Bureau, is the official destination marketing organization for the city of Boulder, Colorado. Established in 1985, Visit Boulder strengthens the local economy by inspiring visitor connections to Boulder’s vibrant landscape and unique culture. (www.bouldercoloradousa.com)

About the Colorado Office of Economic Development and International Trade

The Colorado Office of Economic Development and International Trade (OEDIT) works to empower all to thrive in Colorado’s economy. Under the leadership of the Governor and in collaboration with economic development partners across the state, we foster a thriving business environment through funding and financial programs, training, consulting and informational resources across industries and regions. We promote economic growth and long-term job creation by recruiting, retaining, and expanding Colorado businesses and providing programs that support entrepreneurs and businesses of all sizes at every stage of growth. Our goal is to protect what makes our state a great place to live, work, start a business, raise a family, visit and retire—and make it accessible to everyone. Learn more about OEDIT.

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MIL OSI USA News –

March 28, 2025
MIL-OSI Security: United States Files Civil Forfeiture Complaint for $47 Million in Proceeds From the Sale of Iranian Oil

Source: Federal Bureau of Investigation (FBI) State Crime Alerts (b)

           WASHINGTON – A civil forfeiture complaint was filed today in the U.S. District Court for the District of Columbia alleging that $47 million in proceeds from the sale of nearly one million barrels of Iranian petroleum is forfeitable as property of, or affording a person a source of influence over, the Islamic Revolutionary Guard Corps (IRGC) or its Qods Force (IRGC-QF), designated Foreign Terrorist Organizations (FTO).

           The forfeiture was announced by U.S. Attorney Edward R. Martin, Jr., Sue J. Bai, head of the Justice Department’s National Security Division, FBI Special Agent in Charge Alvin M. Winston, Sr. of the Minneapolis Field Office, and Homeland Security Investigations (HSI) Acting Special Agent in Charge Michael Alfonso of the New York Office.

           The forfeiture complaint alleges a scheme between 2022 and 2024 to facilitate the shipment, storage, and sale of Iranian petroleum product for the benefit of the IRGC and IRGC-QF. The facilitators used deceptive practices to masquerade the Iranian oil as Malaysian, including by manipulating the tanker’s automatic identification system (AIS) to conceal that it onboarded the oil from a port in Iran. The facilitators presented falsified documents to the Croatian storage facility and port authority, claiming that the oil was Malaysian. The facilitators paid for storage fees associated with the oil’s storage at the Croatian facility in U.S. dollars, transactions that were conducted through U.S. financial institutions that would have refused the transactions had they known they were associated with Iranian oil. The petroleum product was sold in 2024, and the United States seized $47 million in proceeds from that sale.

           The civil forfeiture complaint further alleges that the petroleum product constitutes the property of the National Iranian Oil Company (NIOC), which has perpetuated a federal crime of terrorism by providing material support to the IRGC and IRGC-QF. As alleged, profits from petroleum product sales support the IRGC’s full range of malign activities, including the proliferation of weapons of mass destruction and their means of delivery, support for terrorism, and both domestic and international human rights abuses.

           “We will aggressively enforce U.S. sanctions against Iran, in furtherance of President Trump’s maximum pressure campaign,” said U.S. Attorney Martin. “With the continued seizures of Iranian oil and U.S. dollar profits, we are sending a clear message to Iran that bypassing the sanctions put in place by the U.S. Government is not as easy as playing a shell game with tankers filled with oil. We remain committed to thwarting Iran’s devious attempts, and to deprive its terrorists of the funding they desire.”

           “The FBI will not allow hostile regimes to evade U.S. sanctions or exploit our financial systems to fund designated terrorist organizations,” said FBI Special Agent in Charge Winston. “The FBI, alongside our partners, will relentlessly enforce U.S. sanctions against Iran and safeguard U.S. national security by disrupting illicit networks that seek to profit from sanctioned oil sales.”

           “Through the work of HSI’s Counterproliferation Investigations group, alongside the FBI, the U.S. government has seized $47 million worth of funds allegedly meant for terrorist groups intent on causing catastrophic harm,” said HSI Acting Special Agent in Charge Alfonso. “The expertise of HSI personnel, coupled with federal law enforcement’s whole-of-government approach, ensures the wellbeing of the United States and our innocent foreign counterparts, alike. We are relentlessly utilizing every tool at our disposal in pursuit of any and all security threats.”

           Funds successfully forfeited with a connection to a state sponsor of terrorism may in whole or in part be directed to the U.S. Victims of State Sponsored Terrorism Fund.

           FBI Minneapolis Field Office and Homeland Security Investigations New York are investigating the case.

           Assistant U.S. Attorneys Karen P. Seifert, Maeghan O. Mikorski, and Brian Hudak for the District of Columbia and Trial Attorney Adam Small of the National Security Division’s Counterintelligence and Export Control Section are litigating the case. They received assistance from former Paralegal Specialist Brian Rickers and the Justice Department’s Office of International Affairs.

           A civil forfeiture complaint is merely an allegation. The burden to prove forfeitability in a civil forfeiture proceeding is upon the government.

MIL Security OSI –

March 28, 2025
MIL-OSI Security: Stamford Man Indicted for Defrauding Mars, Inc. out of Millions of Dollars

Source: Federal Bureau of Investigation (FBI) State Crime News

Marc H. Silverman, Acting United States Attorney for the District of Connecticut, Anish Shukla, Acting Special Agent in Charge of the New Haven Division of the Federal Bureau of Investigation, Harry Chavis, Special Agent in Charge of IRS Criminal Investigation in New England, and Charmeka Parker, Special Agent in Charge of the Northeast Region of the U.S. Department of Agriculture – Office of Inspector General today announced that a federal grand jury in New Haven has returned a nine-count indictment charging PAUL R. STEED, 58, of Stamford, with fraud and tax offenses stemming from his alleged commission of multiple frauds against his former employer Mars, Inc.

The indictment was returned yesterday, and Steed was arrested this morning. He appeared before U.S. Magistrate Judge S. Dave Vatti in Bridgeport, pleaded not guilty, and is currently detained.

The indictment alleges that, between approximately 2011 and 2023, Steed was employed by Mars Wrigley, a subsidiary of Mars. Inc. (“Mars”), working remotely from his home in Stamford. Steed served as Global Price Risk Manager for Mars Wrigley’s Global Cocoa Enterprise. As part of his employment, Steed was responsible for managing Mars Wrigley’s participation in the U.S. Department of Agriculture (“USDA”) Sugar-Containing Products Re-Export Program. In approximately 2016, Steed created a company, MCNA LLC, to mimic an actual Mars entity, Mars Chocolate North America. He then diverted millions of dollars in Mars assets to a bank account he set up in MCNA’s name by directing sugar refineries purchasing Mars’s re-export credits, obtained through the USDA program, to pay MCNA LLC as if it were a legitimate Mars entity.

The indictment also alleges that Mars had an ownership interest in Intercontinental Exchange, Inc. (“ICE”), a financial services company that operated financial exchanges and clearing houses, and received quarterly dividends in connection with that ownership. In 2017, Steed directed Computershare Limited (“Computershare”), a company that ICE utilized for stock-related services, to pay MCNA LLC for Mars’s dividends from its ownership shares in ICE. As a result, more than $700,000 in dividend payments were diverted to the MCNA LLC account. In 2023, after Steed had used a fraudulent letter purportedly from the Mars Treasurer authorizing him to trade ICE shares, Steed directed Computershare to sell Mars’s ICE shares entirely. Computershare issued a check in the amount of more than $11.3 million, which Steed deposited into the MCNA LLC account.

The indictment further alleges that, from 2013 through 2020, Steed used a company he owned called Ibera LLC to invoice Mars for services Mars did not receive. Mars paid Ibera LLC approximately $580,000 through this scheme.

The indictment charges Steed with seven counts of wire fraud, an offense that carries a maximum term of imprisonment on each count. Steed is also charged with two counts of tax evasion, an offense that carries a maximum term of imprisonment of five years on each count, for failing to report and pay taxes on his stolen income, as alleged.

According to statements made in court, Steed is alleged to have stolen more than $28 million from Mars and through his schemes. More than $18 million was seized today for forfeiture, and the government is seeking to forfeit a Greenwich home that Steed is alleged to have purchased with nearly $2.3 million in stolen funds. It is alleged that another $2 million was sent by Steed to Argentina, where he is a dual citizen, has family ties, and owns a ranch.

Acting U.S. Attorney Silverman stressed that an indictment is not evidence of guilt. Charges are only allegations, and the defendant is presumed innocent unless and until proven guilty beyond a reasonable doubt.

This matter is being investigated by the Federal Bureau of Investigation, the Internal Revenue Service – Criminal Investigation Division, and the U.S. Department of Agriculture – Office of Inspector General, with the assistance of the U.S. Marshals Service. The case is being prosecuted by Assistant U.S. Attorney David E. Novick.

MIL Security OSI –

March 28, 2025
MIL-OSI Canada: Building the future of skilled trades in Alberta
[. Alberta’s government is addressing the labour market demands of today and tomorrow through strategic investments to increase training capacity in high-demand areas, helping students get the skills and knowledge they need to enter Alberta’s workforce.

Through Budget 2025, if passed, Alberta’s government is investing $20 million in continuing funding for the Advanced Skills Centre at the Northern Alberta Institute of Technology (NAIT), as part of a three-year total investment of $43 million for pre-construction planning and design. Once operational, the centre is expected to train an additional 4,200 apprentices per year, helping to meet Alberta’s growing demand for skilled workers.

“By investing in skilled trades and apprenticeship education, Alberta is responding to the needs of industry and targeting our investments in ways that support the economy. Projects like the Advanced Skills Centre exemplify our commitment to helping ensure students are able to make the most of opportunities in high-demand fields and get the skills they need to be successful in Alberta’s workforce.”

Rajan Sawhney, Minister of Advanced Education

The new facility will add 640,000 square feet of state-of-the-art learning space to NAIT’s main campus. The Advanced Skills Centre will deliver comprehensive, leading-edge apprenticeship and technology-based education to help meet the needs of industry by targeting four key sectors: construction, transportation, manufacturing and energy.

“Alberta’s economy is built by skilled tradespeople, and this investment ensures more Albertans can access the training they need to secure stable, high-paying jobs. The Advanced Skills Centre will help meet workforce demands in key industries, keeping our province competitive and prosperous for many years to come.”

Matt Jones, Minister of Jobs, Economy and Trade

The Advanced Skills Centre is now in the planning and design phase and is anticipated to be fully operational by 2029. As part of the centre, NAIT has proposed a 10,000-square-foot space for trades and technology skills exploration, which will serve as a hub for K-12 partners, community groups and industry to receive hands-on training opportunities.

“The Advanced Skills Centre will build the skilled workforce needed to build Alberta’s future. The Government of Alberta’s latest investment will accelerate getting this all-important project shovel-ready. NAIT would like to thank the Government of Alberta for its continued trust and partnership. Together, we will confidently create new economic opportunities for the next generation.”

Laura Jo Gunter, president and CEO, NAIT

“Growth in Edmonton’s construction industry, and our regional economy, depend on ECA members’ ability to hire and retain skilled trades workers. The ECA welcomes the Government of Alberta’s investment in the Advanced Skilled Centre, and pledges continued support to grow NAIT’s ability to attract, train and educate tomorrow’s construction workforce.”

Matt Schellenberger, director of corporate development, Edmonton Construction Association

Budget 2025 is meeting the challenge faced by Alberta communities with continued investments in education and health, lower taxes for families and a focus on the economy.

Quick facts
- The investment of $20 million for pre-construction planning and design of the Advanced Skills Centre is part of a three-year total investment of $43 million, first announced in 2024.
- The yearly funding breakdown from Alberta’s government is as follows:
  - $2 million in 2024-25
  - $20 million in 2025-26
  - $21 million in 2026-27
- Through Budget 2025, if passed, Alberta is also investing an additional $78 million per year over three years for seats in apprenticeship programs at 11 post-secondary institutions across the province.
- Each year, 30,000 to 40,000 students are enrolled in programs across NAIT’s campuses.
  - Of those students studying in full-time programs, more than 30 per cent are enrolled in apprenticeship and skilled trades programs.
- Demand for seats and apprenticeship registration has increased over the last three years and is expected to continue rising due to Alberta’s growing economy and vacancies created by retirees.
- As of February 2025, there were more than 73,000 registered apprentices in Alberta, representing an increase of 19 per cent compared to last year.
Related information
- Information about apprenticeship and the skilled trades is available at tradesecrets.alberta.ca.
Related news
- Investing in the future of apprenticeships at NAIT (May 28, 2024)
Multimedia
- Watch the news conference
MIL OSI Canada News –
March 28, 2025
MIL-OSI Canada: Small and Medium Business Tax Credit Arrives in Saskatchewan

Source: Government of Canada regional news

Released on March 27, 2025

Pilot Project Supports Small and Medium-Sized Businesses in the Food, Beverage, Machinery and Transportation Sectors

Today, the Government of Saskatchewan introduced legislation that will see the creation of a new Small and Medium Enterprise (SME) Tax Credit.

“Small and medium-sized businesses are foundational for the strength of our Provincial economy, during a time when increasing local investment is more important than ever,” Trade and Export Development Minister Warren Kaeding said. “With this new incentive, more small and medium-size businesses will be able to build equity, allowing them to grow, which leads to more jobs for our growing workforce. This is just one of the many ways that our budget delivers to the people of the province.”

The program is a three-year pilot, which will function similar to the province’s successful Saskatchewan Technology Startup Incentive (STSI). The pilot targets enterprises in the food and beverage manufacturing, and the machinery and transportation equipment sectors.

The program will include a 45 per cent non-refundable tax credit for individuals or corporations who invest in the equity of an eligible Saskatchewan SME. It will have an annual cap of $7 million on the total non-refundable tax credits awarded, processed on a first-come first-served basis. An eligible SME is defined as a Saskatchewan-based business with between five and 49 employees, with a minimum of 50 per cent of those employees residing in Saskatchewan.

Since 2014, the number of small businesses has risen 4.9 per cent in the province.

Private capital investment in Saskatchewan increased last year by 17.3 per cent to $14.7 billion, ranking first among provinces for growth. Private capital investment is projected to reach $16.2 billion in 2025, an increase of 10.1 per cent over 2024. This is the second highest anticipated percentage increase among the provinces.

The SME Tax Credit pilot program will be in effect from July 1, 2025 to June 30, 2028. The program will begin accepting applications in late 2025.

-30-

For more information, contact:

MIL OSI Canada News –

March 28, 2025

MIL-OSI: Cegedim Full year 2024 results: Operating profitability improved

Source: GlobeNewswire (MIL-OSI)

PRESS RELEASE

Quarterly financial information as of December 31, 2024
IFRS – Regulated information – Audited

Full year 2024 results: Cegedim’s operating profitability improved

2024 revenues rose 6.3% to €654.5 million
Recurring operating income⁽¹⁾ increased 24.7% to €39.5 million
Recurring operating margin came to 6.0% in 2024, up from 5.1% in 2023

Boulogne-Billancourt, France, March 27, 2025, after the market close

Cegedim generated consolidated revenues of €654.5 million in 2024, an increase of 6.3%, and recurring operating income⁽¹⁾of €39.5 million, a 24.7% increase. Recurring operating margin was 6.0%, up from 5.1% one year earlier.

Consolidated income statement

	2024		2023		Change
	(in €m)	(in %)	(in €m)	(in %)	(in %)
Revenue	654.5	100%	616.0	100.0%	+6.3%
EBITDA⁽¹⁾	123.6	18.9%	108.8	17.7%	+13.5%
Depreciation and amortization	-84.1	-12.8%	-77.2	-12.5%	+9.0%
Recurring operating income⁽¹⁾	39.5	6.0%	31.7	5.1%	+24.7%
Other non-recurring operating income and expenses⁽¹⁾	-28.4	-4.3%	-11.7	-1.9%	-143.0%
Operating income	11.1	1.7%	20.0	3.2%	-44.5%
Financial result	-20.9	-3.2%	-11.9	-1.9%	-75.8%
Total tax	-5.8	-0.9%	-14.8	-2.4%	-61.1%
Net profit attributable to owners of the parent	-14.7	-2.2%	-7.4	-1.2%	-98.6%
Earnings per share (in euros)	-1.1	–	-0.5	–	-120.0%

Consolidated revenues: rose €38.5 million, or +6.3%, to €654.5 million in 2024 compared with €616.0 million in 2023. The positive scope effect of €8.2 million, or 1.4%, was attributable to the first-time consolidation of Visiodent starting March 1, adjusted for the deconsolidation of INPS from Cegedim’s accounts since December 10. The positive currency impact was €1.1 million, or 0.2%. Like-for-like⁽²⁾ revenue increased +4.7% over the period.

Recurring operating income⁽¹⁾: rose €7.8 million in 2024 to €39.5 million compared with €31.7 million in 2023. It amounted to 6.0% of 2024 revenue compared with 5.1% in 2023. This increase was driven chiefly by the profitability improvement in the insurance businesses, especially the Software and BPO offerings, as well as further strong growth in Cegedim Business Services in Human Resources and in digitalized flow services for businesses and healthcare. Another highlight of the year’s results was the very strong performance of the marketing in pharmacies offering and the positive contribution from the first-time consolidation of Visiodent.

Other non-recurring operating income and expenses⁽¹⁾: amounted to an expense of €28.4 million in 2024 compared with an income of €11.7 million in 2023. Following the voluntary placement of its INPS subsidiary in administration, the Group recognized a capital loss of €8.8 million. The remainder consists of an €8.6 million asset impairment charge on its software for pharmacies business in France and the United Kingdom and a goodwill impairment charge of €4.7 million related to its Clamae subsidiary. Of this total of €28.4 million, the cash impact was only €5.7 million, related principally to payroll costs.

Depreciation and amortization expenses: rose €6.9 million in 2024. Amortization of R&D costs rose €6.0 million year on year compared with 2023, and depreciation of capital expenditures rose €2.4 million as a result of investments in the operations of cegedim.cloud and C-Media. Amortization of intangible assets and depreciation of right-of-use assets declined by €1.5 million.

EBITDA: the €14.8 million or 13.5% increase between 2023 and 2024 was the result of a stabilization in payroll costs, external expenses and purchases used relative to the pace of revenue growth, reflecting the special attention the Group paid to cost control.

Financial result: was a loss of €20.9 million, down €9.0 million compared with 2023, owing to a provision related to the voluntary placement of INPS in administration and the increase in interest expense owing to the new financing arrangement put in place in the summer.

Total tax: came to a charge of €5.8 million, down €9.0 million compared with 2023. As a reminder, note that in 2023 the Group made a €12.3 million accounting adjustment to previously recognized deferred tax assets. The adjustment had no cash impact and was intended to reflect recent developments in judicial precedent that led the Group to measure its potential unrealized gain more conservatively.

Analysis of business trends by division

in millions of euros	Total	Software & Services	Flow	Data & Marketing	BPO	Cloud & Support
Revenue
2023 as reported	616.0	326.6	95.9	114.9	71.5	7.1
2023 reclassified ^(*)	616.0	302.3	93.4	114.9	71.5	33.9
2024	654.5	307.8	100.3	125.9	82.7	37.8
Change	+6.3%	+1.8%	+7.3%	+9.6%	+15.8%	+11.3%

Recurring operating income⁽³⁾
2023 as reported	31.7	4.2	12.1	15.9	4.0	-4.5
2023 reclassified ^(*)	31.7	2.3	11.2	15.9	4.1	-1.8
2024	39.5	5.1	12.5	16.5	7.2	-1.9
Change	+24.7%	+126.7%	+11.8%	+3.5%	+77.2%	-5.0%

Recurring operating margin
2023 as reported	5.1%	1.3%	12.6%	13.9%	5.5%	-62.9%
2023 reclassified ^(*)	5.1%	0.8%	11.9%	13.9%	5.7%	-5.2%
2024	6.0%	1.7%	12.4%	13.1%	8.7%	-4.9%

⁽*⁾As of January 1, 2024, our Cegedim Outsourcing and Audiprint subsidiaries—which were previously housed in the Software & Services division—as well as BSV—formerly of the Flow division—have been moved to the Cloud & Support division in order to capitalize on operating synergies between cloud activities and IT solutions integration.

Software & Services: 2024 revenue rose 1.8%, boosted by the HR solutions, insurance businesses and the first-time consolidation of Visiodent from March 1, 2024. The pharmacy business and Cegedim Santé felt the impact of comparisons with Ségur public health investment spending, while the international businesses recorded a business contraction owing to the decision to wind down, then shutter its software for doctors business in the United Kingdom.

Recurring operating income (REBIT) amounted to €5.1 million in 2024, a €2.8 million increase compared with income of €2.3 million in 2023. Of this income, €3.2 million flowed from the firmer business trends at Cegedim Santé, chiefly as a result of the first-time consolidation of Visiodent. This cost control policy together with strong activity levels boosted the Insurance business, and HR solutions also made a positive contribution to the improvement in recurring operating income. The pharmacy software business in France was adversely affected by the slowdown in equipment sales after many pharmacies updated their equipment in 2023. The international businesses recorded a small decrease in their recurring operating income owing to the deconsolidation of INPS, which incurred expenses for the Pharmacy business in the United Kingdom.

Software & Services				Change 2024/2023 reclassified
in millions of euros	2024	2023 reclassified ^(*)	2023 as reported	Change 2024/2023 reclassified
Revenue	307.8	302.3	*326.6*	+5.5	+1.8%
Cegedim Santé	80.2	76.5	76.5	+3.7	+4.8%
Insurance, HR, Pharmacies, and other services	176.7	173.3	197.6	+3.4	+2.0%
International businesses	50.9	52.5	52.5	-1.6	-3.0%

Recurring operating income⁽⁴⁾	5.1	2.3	*4.2*	+2.8	+126.7%
Cegedim Santé	0.3	-2.9	-2.9	+3.2	+111.9%
Insurance, HR, Pharmacies, and other services	13.3	12.8	14.7	+0.5	+4.4%
International businesses	-8.5	-7.6	-7.6	-0.9	-12.4%

⁽*⁾As of January 1, 2024, our Cegedim Outsourcing and Audiprint subsidiaries—which were previously housed in the Software & Services division—have been moved to the Cloud & Support division in order to capitalize on operating synergies between cloud activities and IT solutions integration.

Flow: Revenue rose 7.9%, propelled by e-business, e-invoicing, and digitized data exchanges (+5.6%), and by the Third-party payer business (+9.9%), which was supported by the powerful momentum of its fraud detection and long-term illness detection offerings.
The €1.3 million improvement, or +11.8% increase, in recurring operating income was driven by the rapid growth in the business and by a tight grip on expenses and payroll costs.
Data & Marketing: Revenue came to €125.9 million, up +9.6% on the back of a record performance by the Marketing division. It posted growth of 19.9%, underpinned by its phygital media communication strategy and boosted by special campaigns during the Olympic Games. Even though performance in 2023 was highly impressive, the Data business still managed to post growth of 1.6% in 2024.

The division’s recurring operating income⁽¹⁾ grew by €0.6 million or +3.5% owing to the Marketing division converting robust revenue growth into operating income growth. On the other hand, the slowdown in international Data was a drag on the division’s profitability.

BPO: the division’s revenues grew 15.8% in 2024 compared with 2023, owing principally to services managed on behalf of health and personal protection insurers, which grew by 20.2% as a result of its flourishing overflow business and a favorable comparison linked to the start of the new contract with Allianz on April 1, 2023. Revenues from services management on behalf of HR departments rose 5.5%.

The division’s recurring operating income rose by €3.1 million, or +77.2%. Most of this increase came from BPO Business services, which benefited from the tight control of payroll costs amid revenue growth and an allocation of its internal IT expenses more appropriate for its business level. The business for insurers posted an increase in recurring operating income, despite the costs incurred on the Allianz contract, as a result of the improvement in the profitability of other BPO contracts and, crucially, the impact of its flourishing overflow offering.

Cloud & Support: the Cloud & Support division posted a revenue increase of €3.9 million on the back of its expanded range of sovereign cloud-backed products and services, which earned the ANSSI security visa for SecNumCloud

certification. The 2024 recurring operating loss⁽¹⁾ was €1.9 million, almost stable compared with 2023, demonstrating the Cloud business’ ability to offset the support activity expenses.

Highlights

To the best of the Company’s knowledge, there were no events or changes during 2024 that would materially alter the Group’s financial situation.

Acquisition of Visiodent

On February 15, 2024, Cegedim Santé acquired Visiodent, a key French publisher of management software for dental practices and health clinics. Visiodent launched the market’s first 100% SaaS solution, Veasy, at a time of significant expansion for those organizations. Its users now include the country’s largest nation-wide networks of health clinics, both cooperative and privately owned, as well as several thousand dental surgeons in private practice. Visiodent generated revenue of c.€10 million in 2023 and began contributing to Cegedim Group’s consolidation scope on March 1, 2024.

On December 10, 2024, Cegedim announced that it had voluntarily placed its UK subsidiary—INPS, which sells software for doctors—under administration.

New financing arrangement

On July 31, 2024, Cegedim announced that it had secured a new financing arrangement consisting of a €230 million syndicated loan. The arrangement is split into €180 million of lines drawn upon closing to refinance the Group’s existing debt (RCF and Euro PP, which were to mature in October 2024 and October 2025 respectively) and an additional, undrawn revolving credit facility (RCF) of €50 million. This new financing arrangement will bolster the Group’s liquidity and extend the maturity of its debt to, respectively, 5 years (€30 million, payments every six months); 6 years (€60 million, repayable upon maturity); and 7 years (€90 million, repayable upon maturity).

Cegedim S.A. has been subject to two tax audits since 2018, which have resulted in reassessments relating to the use of tax-loss carryforwards contested by the tax authorities. After consultation with its lawyers and based on the applicable tax law and ample precedent, Cegedim S.A. believes that the tax authorities’ proposed reassessments are unwarranted. As a result, the Company has appealed the decision and continues to explore its options for contesting the reassessments.

In the event of an unfavorable ruling, based on the tax losses used up to December 31, 2024, Cegedim S.A. would have to book tax expense of €30.8 million in its P&L, of which it has already paid €23 million, and to cancel €4.1 million in deferred tax assets, which would not entail any cash outflow.

In the last quarter of 2023, the Company referred this dispute to the administrative court, and the dispute is likely to continue for several years.

Significant transactions and events post December 31, 2024

To the best of the Company’s knowledge, there were no post-closing events or changes after December 31, 2024, that would materially alter the Group’s financial situation.

Outlook

Based on the currently available information, the Group expects 2025 like-for-like⁽¹⁾ revenue growth to be in an approximative range of 2-4% relative to 2024. Recurring operating income should continue to improve, following a similar trajectory to 2024.

These targets are not forecasts and may need to be revised if there is a significant worsening of geopolitical, macroeconomic, or monetary risks.

—————

The Audit Committee met on March 26, 2025. The Board of Directors, chaired by Jean-Claude Labrune, met on March 27, 2025. It approved the consolidated financial statements at December 31, 2024, and will ask the Shareholders’ Meeting to approve the financial statements for the year 2024. The consolidated accounts have been audited. The statutory auditors’ report will be issued once the formalities required for submission of the Universal Registration Document have been completed.

The Universal Registration Document will be available in a few days’ time, in French and in English, on our website.

———

(1) At constant scope and exchange rates.

WEBCAST ON MARCH 27, 2025, AT 6:15 PM (PARIS TIME)

The webcast is available at:www.cegedim.fr/webcast

The fiscal 2024 results presentation is available on the website:

https://www.cegedim.fr/finance/documentation/Pages/presentations.aspx

Financial calendar for 2025

2025

March 28 at 10:00 am

April 24 after the close

June 13 at 9:30 am

July 24 after the close

September 25 after the close

September 26 at 10:00 am

October 23 after the close

SFAF meeting

Q1 2025 revenues

Shareholders’ meeting

H1 2025 revenues

H1 2025 results

SFAF meeting

Q3 2025 revenues

Financial calendar: https://www.cegedim.fr/finance/agenda/Pages/default.aspx

Disclaimer
This press release is available in French and in English. In the event of any difference between the two versions, the original French version takes precedence. This press release may contain inside information. It was sent to Cegedim’s authorized distributor on March 27, 2025, no earlier than 5:45 pm Paris time.
The figures cited in this press release include guidance on Cegedim’s future financial performance targets. This forward-looking information is based on the opinions and assumptions of the Group’s senior management at the time this press release is issued and naturally entails risks and uncertainty. For more information on the risks facing Cegedim, please refer to Chapter 7, “Risk management”, section 7.2, “Risk factors”, and Chapter 3, “Overview of the financial year”, section 3.6, “Outlook”, of the 2023 Universal Registration Document filed with the AMF on April 3, 2024, under number D.24-0233.

About Cegedim:
Founded in 1969, Cegedim is an innovative technology and services group in the field of digital data flow management for healthcare ecosystems and B2B, and a business software publisher for healthcare and insurance professionals. Cegedim employs nearly
6,700 people in more than 10 countries and generated revenue of over €654 million in 2024.
Cegedim SA is listed in Paris (EURONEXT: CGM).
To learn more please visit: www.cegedim.fr
And follow Cegedim on X: @Cegedimgroup, LinkedIn, and Facebook.

Aude Balleydier
Cegedim
Media Relations and
Communications Manager

Tel.: +33 (0)1 49 09 68 81
aude.balleydier@cegedim.fr

Damien Buffet
Cegedim
Head of
Financial Communication

Tel.: +33 (0)7 64 63 55 73
damien.buffet@cegedim.com

Céline Pardo
Becoming RP Agency
Media Relations Consultant

Tel.: +33 (0)6 52 08 13 66
cegedim@becoming-group.com

Appendix

Consolidated financial statements at December 31, 2024

Assets at December 31, 2024

In thousands of euros	*12/31/2024*	12/31/2023
Goodwill arising on acquisitions	235,747	199,787
Development costs	857	1,562
Other intangible assets	190,555	192,616
Intangible assets	191,412	194,178
Land	594	544
Buildings	1,451	1,660
Other property, plant and equipment	51,539	45,829
Advances and non-current assets in progress	4,876	831
Right-of-use assets	86,273	89,718
Property, plant and equipment	144,733	138,582
Equity investments	0	0
Loans	14,156	15,332
Other financial assets	5,820	5,230
Financial assets excluding investments in affiliates	19,976	20,563
Investments in affiliates	15,354	22,065
Deferred tax assets	16,597	19,747
Prepaid expenses: long-term proportion	–	–
Non-current assets	623,819	594,922
Goods held for resale	6,741	5,498
Advances and deposits received on orders	1,296	3,703
Trade receivables: short-term portion	186,003	175,199
Other receivables: short-term portion	66,945	59,563
Current tax credits	29,152	16,495
Cash equivalents	0	0
Cash	49,577	46,606
Prepaid expenses: short-term portion	23,357	22,082
Current assets	363,071	329,146
Total assets	986,890	924,068

Liabilities and equity at December 31, 2024

In thousands of euros	*12/31/2024*	12/31/2023
Share capital	13,432	13,337
Retained earnings	268,728	282,521
Group unrealized exchange gains/losses	-3,105	-12,275
Group profit (loss)	-14,707	-7,407
Shareholders’ equity, Group share	264,348	276,175
Non-controlling interest	18,156	18,381
Equity	282,503	294,556
Financial liabilities	223,777	188,546
Lease liabilities	77,639	78,761
Deferred tax liabilities	1,654	5,600
Post-employment benefit obligations	33,024	31,007
Provisions	2,073	2,521
Non-current liabilities	338,167	306,435
Financial liabilities	10,315	3,006
Lease liabilities	14,118	14,789
Trade payables and related accounts	71,784	61,734
Current tax liabilities	279	235
Tax and social security liabilities	128,289	121,371
Provisions	1,502	1,730
Other liabilities	139,932	120,212
Current liabilities	366,220	323,077
TOTAL Liabilities and equity	986,890	924,068

Income statement as of December 31, 2024

In thousands of euros	*12/31/2024*	12/31/2023
Revenue	654,496	615,995
Purchases used	-29,565	-28,547
External expenses	-143,770	-138,544
Taxes and duties	-4,468	-5,352
Payroll costs	-349,803	-331,748
Impairment of trade receivables and other receivables and on contract assets	-1,984	-2,444
Allowances to and reversals of provisions	-4,832	-2,714
Other operating income and expenses	1,640	431
Share of profit (loss) from affiliates included in operating income	1,853	1,757
EBITDA⁽¹⁾	123,567	108,834
Depreciation expenses other than right-of-use assets	-66,934	-59,471
Depreciation expenses of right-of-use assets	-17,149	-17,693
Recurring operating income⁽¹⁾	39,484	31,670
Impairment of goodwill arising on acquisitions	-4,667	–
Non-recurring operating income and expenses	-23,730	-11,687
Other non-recurring operating income and expenses⁽¹⁾	-28,397	-11,687
Operating income	11,087	19,983
Income from cash and cash equivalents	1,650	475
Cost of gross financial debt	-17,902	-11,742
Other financial income and expenses	-4,629	-614
Financial result	-20,881	-11,881
Income taxes	-4,010	-4,509
Deferred taxes	-1,770	-10,336
Total taxes	-5,780	-14,845
Share of profit (loss) from affiliates	440	-1,195
Consolidated net profit	-15,134	-7,937
Group share	-14,708	-7,407
Non-controlling interests	-426	531
Average number of shares excluding treasury stock	13,706,333	13,610,429
Earnings per share (in euros)	-1.1	-0.5

(1) Alternative performance indicator.

Cash flow statement as of December 31, 2024

In thousands of euros	*12/31/2024*	12/31/2023
Consolidated net profit	-15,133	-7,937
Share of profit (loss) from affiliates	-2,293	-561
Depreciation and amortization expenses and provisions	93,449	84,010
Capital gains or losses on disposals of operating assets	8,030	-1,816
Cash flow after cost of net financial debt and taxes	84,053	73,695
Cost of net financial debt	20,881	11,881
Tax expense	5,780	14,845
Cash flow from operating activities before tax and interest	110,714	100,420
Tax paid	-16,216	-4,233
Change in working capital requirement: requirement	–	–
Change in working capital requirement: release	7,350	1,736
Cash flow generated from operating activities after tax paid and change in working capital requirements	101,848	97,923
Acquisitions of intangible assets	-58,607	-53,538
Acquisitions of property, plant and equipment	-31,309	-21,952
Acquisitions of financial assets	–	-1,036
Disposals of property, plant, and equipment and of intangible assets	4,969	2,598
Disposals of financial assets	934	805
Change in deposits received or paid	3,904	83
Impact of changes in consolidation scope	-36,878	-3,371
Dividends received from outside the Group	5,663	1,114
Net cash flow used in investing activities	-111,324	-75,296
Capital increase	985	0
Dividends paid to minority shareholders of consolidated companies	-105	-2
Dividends paid to shareholders of the parent company	–	–
New borrowings	180,000	0
Repayments of borrowings	-136,398	-263
Employee profit sharing	-445	-65
Repayment of lease liabilities	-17,283	-19,796
Interest paid on borrowings	-8,880	-5,050
Other financial income received	4,098	966
Other financial expenses paid	-8,856	-6,861
Net cash flow generated/(used in) financing activities	13,116	-31,071
Change in net cash excluding currency impact	3,640	-8,444
Impact of changes in foreign currency exchange rates	-672	-503
Change in net cash	2,968	-8,947
Opening cash	46,606	55,553
Closing cash	49,574	46,606

Financial covenants

In thousands of euros	12/31/2024	Criterion
Net debt⁽¹⁾	172,489
EBITDA⁽²⁾	103,551
Leverage ratio	1.67	< 2.5

In thousands of euros	12/31/2024	Criterion
Interest expense	10,192
EBITDA⁽²⁾	103,551
Interest cover ratio	10.16	> 4.5

(1) excluding employee profit sharing liabilities, the FCB loan,and IFRS 16 liabilities and excluding cash allocated to BPO insurance activities
(2) Recurring EBITDA excluding IFRS 16 amortization impact

The Group complied with all these covenants as of December 31, 2024, and there is no foreseeable risk of default.

(1) Alternative performance indicator. See pages 112–113 of the 2023 Universal Registration Document.
(2) At constant scope and exchange rates.

(1) Alternative performance indicator. See pages 112–113 of the 2023 Universal Registration Document.

Attachment

Cegedim_Results_FY2024_ENG

The MIL Network –

March 28, 2025

MIL-OSI: Flow Traders 1Q 2025 Pre-Close Call Script
Source: GlobeNewswire (MIL-OSI)

Flow Traders 1Q 2025 Pre-Close Call Script

Eric Pan – Head of Investor Relations, Flow Traders

Welcome to the Flow Traders 1Q 2025 pre-close call, which is being conducted post the European market close on 27 March. During this call I will highlight relevant publicly available data and industry trends in our markets as well as previously published data by Flow Traders and relate these data points to their impact on our business for the quarter. We will publish our 1Q 2025 Trading Update on 24 April at 07:30 CEST.

Market Environment

In general, the market trading volumes in Equity improved in the quarter, both when compared to the same period a year ago as well as compared to last quarter. Equity volatility was mixed, however, depending on the comparison period and region. Within Fixed Income, volume trends were mixed depending on the segment while volatility declined both year-on-year and quarter-on-quarter. In Digital Assets, trading volumes increased compared to the same period a year ago but decreased compared to last quarter as fund flows into digital asset ETFs were lower than last year, which was expected given the spot Bitcoin ETF launches in January of 2024.

Diving deeper into each of the asset classes and regions:

Equity

In Equity, European exchange operators Euronext, Deutsche Börse and the London Stock Exchange saw double-digit improvements in trading volumes both year-on-year and quarter-on-quarter. In the Americas, volumes on both the Nasdaq and NYSE also increased by double-digits year-on-year and quarter-on-quarter, for the most part. APAC saw mixed trading in the quarter as volumes across the Hong Kong and Shanghai Stock Exchange increased significantly year-on-year, but to a lesser extent quarter-on-quarter, while the Tokyo Stock Exchange saw volumes declined both year-on-year and quarter-on-quarter.

Volatility, as exemplified by the VSTOXX in Europe, VIX in the Americas, VHSI in Hong Kong, and JNIV in Japan, declined for the most part across the different regions. The VSTOXX declined by double-digits year-on-year and was flat quarter-on-quarter. The VIX also declined by double-digits year-on-year but was up slightly quarter-on-quarter. VHSI was flat year-on-year and declined slightly quarter-on-quarter, while JNIV increased year-on-year but declined quarter-on-quarter.

FICC

In Fixed Income, the market trading environment in the quarter continue to be mixed as trading volumes improved in some segments but declined in others, either on a year-on-year or quarter-on-quarter basis. Fixed income volatility, as indicated by the MOVE index, declined by double-digits both year-on-year and quarter-on-quarter.

Within Digital Assets, trading volumes in Bitcoin, the barometer of the industry, increased year-on-year but decreased quarter-on-quarter. Fund flows into digital asset ETFs were down meaningfully when compared to the spot Bitcoin ETF launches in the U.S. during the same period last year.

ETP Market Volumes

As per Flow Traders’ previously published monthly ETP Market Statistics, quarter-to-date, On and Off Exchange Value Traded was up 39% year-on-year in EMEA, up 1% in the Americas, up 67% in APAC, and up 11% globally. Average volatility, as indicated by the VIX, was up 22% quarter-to-date compared to the same period a year ago.

Impact on Flow Traders

Coming to Flow Traders’ quarterly performance, the improvement in trading volumes in the period within Equity positively contributed to NTI when compared to the same period a year ago, offset by the expected lower contribution from Digital Assets given the unprecedented spot Bitcoin ETF launches in the U.S. last year. From a regional perspective, EMEA and APAC improved compared to the same period a year ago, positively impacted by the market outperformance in these regions as a result of the current geopolitical climate, offset by the market underperformance in the Americas. On the cost front, Fixed Operating Expenses in the quarter were in-line with our previous guidance.

Contact Details

Flow Traders Ltd.

Investors
Eric Pan
Phone:         +31 20 7996799
Email:                investor.relations@flowtraders.com

Media
Laura Peijs
Phone:         +31 20 7996799
Email:                press@flowtraders.com

About Flow Traders

Flow Traders is a leading trading firm providing liquidity in multiple asset classes, covering all major exchanges. Founded in 2004, Flow Traders is a leading global ETP market marker and has leveraged its expertise in trading European equity ETPs to expand into fixed income, commodities, digital assets and FX globally. Flow Traders’ role in financial markets is to ensure the availability of liquidity and enabling investors to continue to buy or sell financial instruments under all market circumstances, thereby ensuring markets remain resilient and continue to function in an orderly manner. In addition to its trading activities, Flow Traders has established a strategic investment unit focused on fostering market innovation and aligned with our mission to bring greater transparency and efficiency to the financial ecosystem. With over two decades of experience, we have built a team of over 600 talented professionals, located globally, contributing to the firm’s entrepreneurial culture and delivering the company’s mission.

Important Legal Information

This publication is prepared by Flow Traders Ltd. and is for information purposes only. It is not a recommendation to engage in investment activities and you must not rely on the content of this document when making any investment decisions. The information in this publication does not constitute legal, tax, or investment advice and is not to be regarded as investor marketing or marketing of any security or financial instrument, or as an offer to buy or sell, or as a solicitation of any offer to buy or sell, securities or financial instruments.

The information and materials contained in this publication are provided ‘as is’ and Flow Traders Ltd. or any of its affiliates (“Flow Traders”) do not warrant the accuracy, adequacy or completeness of the information and materials and expressly disclaim liability for any errors or omissions. This publication is not intended to be, and shall not constitute in any way a binding or legal agreement, or impose any legal obligation on Flow Traders. All intellectual property rights, including trademarks, are those of their respective owners. All rights reserved. All proprietary rights and interest in or connected with this publication shall vest in Flow Traders. No part of it may be redistributed or reproduced without the prior written permission of Flow Traders.

Flow Traders expressly disclaims any obligation or undertaking to update, review or revise any statements contained in this publication to reflect any change in events, conditions or circumstances on which such statements are based. Unless the source is otherwise stated, the market, economic and industry data in this publication constitute the estimates of our management, using underlying data from independent third parties. We have obtained market data and certain industry forecasts used in this publication from internal surveys, reports and studies, where appropriate, as well as market research, publicly available information and industry publications. The third party sources we have used generally state that the information they contain has been obtained from sources believed to be reliable but that the accuracy and completeness of such information is not guaranteed and that the projections they contain are based on a number of assumptions.

By accepting this publication you agree to the terms set out above. If you do not agree with the terms set out above please notify legal.amsterdam@nl.flowtraders.com immediately and delete or destroy this publication.

Attachment
- 1Q25 Pre-close call script
The MIL Network –
March 28, 2025
MIL-OSI USA: Senator Murray Statement on Trump Plans to Hollow Out HHS, Risking Americans’ Health and Safety

US Senate News:

Source: United States Senator for Washington State Patty Murray
Washington, D.C. – U.S. Senator Patty Murray (D-WA), Vice Chair of the Senate Appropriations Committee and a senior member and former chair of the Senate Committee on Health, Education, Labor, and Pensions (HELP), responded to President Trump’s plans announced today to push out roughly 20,000 employees at the Department of Health and Human Services (HHS) and hollow out the Department, which is responsible for protecting Americans’ health and delivering essential health and social services.
“In the middle of worsening nationwide outbreaks of bird flu and measles, not to mention a fentanyl epidemic, Trump is wrecking vital health agencies with the precision of a bull in a china shop. RFK Jr.’s absurd suggestion that hollowing out the Department will somehow allow it to better protect Americans’ health defies common sense—and everything we have witnessed with our own eyes over the last two months.
“Looking for new ways to make government more efficient is important, but it does not take a genius to understand that pushing out 20,000 workers at our preeminent health agencies won’t make Americans healthier—it’ll just mean fewer health services for our communities, more opportunities for disease to spread, and longer waits for lifesaving treatments and cures. Importantly, Congress just provided funding for specific agencies to administer the very programs and functions that Trump has unilaterally decided should no longer exist—this flies in the face of the law and congressional intent, and will leave our most vulnerable populations at risk.
“When our health agencies are unprepared for a deadly pandemic or our hospitals are overwhelmed with sick kids because our local public health officials can’t track a worsening measles outbreak, the American people should remember it was thanks to the Measles President, Donald Trump, callously hollowing out HHS. People will suffer because this administration is hell-bent on cutting essential services—that keep Americans safe and healthy—down to the bone for no reason. These cuts will not reduce the deficit in any appreciable way and threaten to incur massive costs down the road when we are caught flat-footed by the next health crisis.
“Over the last few weeks, Trump and Musk have chaotically fired cancer researchers and food safety inspectors, single-handedly choked off lifesaving medical research, ripped away resources for our communities to address public health threats, and empowered anti-vaccine conspiracy theorists at every level of government. I have never seen an administration so determined to tear down public health and biomedical research. and make no mistake: the consequences will be deadly.”
Today’s announcement follows weeks of mass firings across HHS, creating chaos at the Department that has prevented it from executing its mission to protect people’s health, and an onslaught of detrimental policies that are halting lifesaving biomedical research and more. HHS announced that it plans to cut its workforce from 82,000 to 62,000 (a 25% reduction) through a combination of mass firings and buy-outs and remake HHS without thoughtful consideration and partnership with Congress.
Among others, Trump, RFK Jr., and Musk plan to cut:
3,500 employees at the Food and Drug Administration (FDA), which is charged with protecting Americans’ health by ensuring the safety and effectiveness of medicines, biologics (including vaccines), and medical devices–and regulating food safety, cosmetics, and tobacco products.
2,400 employees at the Centers for Disease Control and Prevention (CDC), which is charged with protecting the American people from health threats, including infectious diseases.
1,200 employees at NIH, the world’s premier medical research agency, which propels biomedical research that produces life-changing and, in many cases, lifesaving treatments and cures. These cuts come as the Trump administration has already systematically decimated ongoing work at NIH to advance new cures and treatments.
300 employees at the Centers for Medicare and Medicaid Services (CMS), which has long been understaffed and is charged with helping to ensure over 100 million Americans have access to health insurance by overseeing Medicare, Medicaid, the Children’s Health Insurance Program (CHIP), and the Affordable Care Act marketplaces.

MIL OSI USA News –

March 28, 2025

MIL-OSI: WithSecure Corporation: SHARE REPURCHASE 27.3.2025

Source: GlobeNewswire (MIL-OSI)

WithSecure Corporation, STOCK EXCHANGE RELEASE, 27 March 2025 at 6.30 PM (EET)


WithSecure Corporation: SHARE REPURCHASE 27.3.2025

In the Helsinki Stock Exchange

Trade date	27.3.2025
Bourse trade	Buy
Share	WITH
Amount	10 000	Shares
Average price/ share	0,9397	EUR
Total cost	9 397,00	EUR


WithSecure Corporation now holds a total of 276 890 shares
including the shares repurchased on 27.3.2025

The share buybacks are executed in compliance with Regulation
No. 596/2014 of the European Parliament and Council (MAR) Article 5
and the Commission Delegated Regulation (EU) 2016/1052.


On behalf of Withsecure Corporation

Nordea Bank Oyj

Janne Sarvikivi	Sami Huttunen


Contact information:
Laura Viita
Vice President Controlling, Investor relations and Sustainability
WithSecure Corporation
Tel. +358 50 4871044
Investor-relations@withsecure.com

Attachment

WithSecure 27.3.2025

The MIL Network –

March 28, 2025

MIL-OSI: American Rebel Expands its Successful Sponsorship for 2025 with Tony Stewart Racing (TSR) in NHRA Mission Foods Drag Racing Series
Source: GlobeNewswire (MIL-OSI)

Company Touts Multiple Achievements Working with TSR

Nashville, TN, March 27, 2025 (GLOBE NEWSWIRE) — American Rebel Holdings, Inc. (NASDAQ: AREB) (“American Rebel” or the “Company”), creator of American Rebel Beer (americanrebelbeer.com) and a designer, manufacturer, and marketer of branded safes, personal security and self-defense products and apparel (americanrebel.com), will expand its successful sponsorship for 2025 with Tony Stewart Racing (tsrnitro.com) in the NHRA Mission Foods Drag Racing Series (nhra.com). American Rebel will be highly visible throughout the season on both the Tony Stewart Top Fuel Dragster and the Matt Hagan Funny Car. American Rebel has found that the relationship with Tony Stewart Racing has created opportunities for American Rebel Beer to contract with top beer distributors and top retailers and advance the company’s marketing objectives.

American Rebel will be a secondary sponsor on the Tony Stewart driven Top Fuel Dragster and the Matt Hagan driven Funny Car for all 20 races as well as be the primary sponsor of the Matt Hagan Funny Car for five races and be the primary sponsor of the Tony Stewart Top Fuel Dragster for one race during the NHRA 2025 season. Being a sponsor provides opportunities for vast exposure during the race broadcasts on Fox Sports, Fox Sports 1 (FS1) and Fox Sports 2 (FS2). Ratings for NHRA telecasts are very strong and visibility continues to expand through additional streaming options through NHRA.tv.

“I’m very excited to expand our sponsorship of Tony Stewart Racing through work with Tony, Matt and Leah,” said American Rebel CEO Andy Ross. “Tony, Matt and Leah have been a big part of our incredible success opening up distributors across the country. Various consultants told me opening up distributors was next to impossible, but American Rebel has proven them wrong because we have a real 12-year organic story of how we got here, and Tony, Matt and Leah’s support have poured patriotic fuel all over the fire we had already started. I can’t thank them enough for everything they’ve done. Our relationship started out as a sponsorship, turned into a friendship and now it’s family.”

In addition to the strong television viewership of NHRA racing, NHRA has unveiled exciting opportunities for digital media and content creators heading into the 2025 NHRA Mission Foods Drag Racing Series season. Aiming to change the way influencers, content creators and digital media members experience drag racing, NHRA is working to expand its reach across social media platforms with its Cornwell Tools Burnout Box Content Creator Zone. This expansion and emphasis in the digital media space will significantly benefit American Rebel.

American Rebel has also benefitted from the relationship with Tony Stewart Racing through the social media reach of Tony Stewart, Matt Hagan and Leah Pruett. Tony Stewart has nearly 750,000 followers on X (@TonyStewart) and over 250,000 followers on Instagram (@tsrsmoke). Matt Hagan has nearly 150,000 followers on Instagram (@matthagan_fc) and Leah Pruett has nearly 400,000 followers on Instagram (@leah.pruett).

“Tony, Matt and Leah are such an important part of our story,” said Andy Ross. “Tony is a legendary NASCAR driver who may be the most versatile race car driver in history, having also driven in IndyCar, USAC, NHRA and just about anything with wheels. And Matt has 52 NHRA national event wins and is one of only four legendary Funny Car drivers to win four championships (John Force, Don Prudhomme and Kenny Bernstein are the others) and Leah has kicked in doors as a Top Fuel driver and she continues to provide unparalleled support for American Rebel at the track and on social media. Our distributors love our connection with Tony Stewart Racing as American Rebel Light Beer connects with our customers through this sponsorship.”

It’s been said that Andy Ross wrote the most on-brand drag racing song ever with his “Nitro Lightning” that he wrote for Matt Hagan. The song gets played at the track nearly every race weekend and even has been referenced on the Fox broadcasts. Andy has performed concerts at the Texas Motorplex and the Bradenton Motorsports Park after race events and is scheduled to perform this year at the NHRA Four-Wide Nationals in Concord, NC.

“What’s more American Rebel than rock ‘n’ roll and drag racing?” said Andy Ross. “Drag racing fans are the perfect demo for American Rebel Beer and we’re looking forward to continuing this relationship a long time.”

Primary sponsorship dates for American Rebel Beer on the Matt Hagan Funny Car are April 25 – 27 at the NHRA Four-Wide Nationals in Concord, NC; June 20 – 22 at the Virginia NHRA Nationals at North Dinwiddle, VA; August 14 – 17 at the Lucas Oil NHRA National in Brainerd, MN; September 26 – 28 at the NHRA Midwest Nationals near St. Louis, MO; and October 30 – November 2 at the NHRA Nevada Nationals in Las Vegas, NV. American Rebel Beer will also be a primary sponsor for the Tony Stewart Top Fuel Dragster on September 26 – 28 at the NHRA Midwest Nationals near St. Louis, MO.

About American Rebel Light Beer

Produced in partnership with AlcSource, American Rebel Light Beer (americanrebelbeer.com) is a domestic premium light lager celebrated for its exceptional quality and patriotic values. It stands out as America’s Patriotic, God-Fearing, Constitution-Loving, National Anthem-Singing, Stand Your Ground Beer.

American Rebel Light is a Premium Domestic Light Lager Beer – All Natural, Crisp, Clean and Bold Taste with a Lighter Feel. With approximately 100 calories, 3.2 carbohydrates, and 4.3% alcoholic content per 12 oz serving, American Rebel Light Beer delivers a lighter option for those who love great beer but prefer a more balanced lifestyle. It’s all natural with no added supplements and importantly does not use corn, rice, or other sweeteners typically found in mass produced beers.

About American Rebel Holdings, Inc.

American Rebel Holdings, Inc. (NASDAQ: AREB) has operated primarily as a designer, manufacturer and marketer of branded safes and personal security and self-defense products and has recently transitioned into the beverage industry through the introduction of American Rebel Beer. The Company also designs and produces branded apparel and accessories. To learn more, visit americanrebelbeer.com or americanrebel.com. For investor information, visit americanrebel.com/investor-relations.

American Rebel Holdings, Inc.
info@americanrebel.com

American Rebel Beverages, LLC
Todd Porter, President
tporter@americanrebelbeer.com

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. American Rebel Holdings, Inc., (NASDAQ: AREB; AREBW) (the “Company,” “American Rebel,” “we,” “our” or “us”) desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “forecasts” “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements primarily on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include benefits of a launch party, actual launch timing and availability of American Rebel Beer, success and availability of the promotional activities, our ability to effectively execute our business plan, and the Risk Factors contained within our filings with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2023. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as may be required by law.

Company Contact:
tporter@americanrebelbeer.com
info@americanrebel.com

Attachment
- American Rebel Holdings Inc
The MIL Network –
March 28, 2025
MIL-OSI Video: High-level visit from Cambodia

Source: World Trade Organization – WTO (video statements)

Director-General Ngozi Okonjo-Iweala met Nimul Cham, Cambodia’s Minister of Commerce, during her country’s Trade Policy Review.

The third review of the trade policies and practices of Cambodia takes place on 26 and 28 March 2025. Learn more: https://www.wto.org/english/tratop_e/tpr_e/tp569_e.htm

Download this video from the WTO website:
https://www.wto.org/english/res_e/webcas_e/webcas_e.htm

https://www.youtube.com/watch?v=r1C8EdHNMi4

MIL OSI Video –

March 28, 2025
MIL-OSI Canada: Changes to reservist leave: Joint statement
Source: Government of Canada regional news (2)
“Alberta’s government recognizes the sacrifices Albertans make while serving in the Canadian Armed Forces, both in active duty and the reserves. Our government is committed to supporting our armed forces reservist members by providing a job-protected leave so they can fulfill their service obligations and keep their civilian jobs, while engaging in expanded duties.

“To support the operations and activities related to the June 2025 G7 Leaders’ Summit in Kananaskis, I have approved a temporary ministerial regulation enabling Alberta-based Canadian Armed Forces reserves to take reservist leave. The regulation takes effect March 31 and expires on August 31.

“I am confident this change will provide more capacity for the Canadian Armed Forces to support the summit’s security and ensure its success.

“Alberta’s reservists are uniquely positioned to take on this role, as their deep-rooted commitment to both our province and country, combined with their unparalleled readiness and expertise, make them the ideal force for this special mission.

“Alberta’s government looks forward to hosting G7 leaders in our province and for the chance to showcase Alberta’s limitless opportunity and unparalleled landscapes on the world’s stage.”

Matt Jones, Minister of Jobs, Economy and Trade

“On behalf of Alberta’s reservists, I thank Minister Jones for implementing this temporary regulation.

“This provides our province’s reservists with a rare opportunity to serve during a significant world event that has not been held in Alberta since 2002.

“For many reservists this may be a once-in-a-lifetime opportunity.

“I encourage their civilian employers to accommodate our Alberta reservists and support their requests for this special leave.”

Justin Wright, MLA for Cypress-Medicine Hat and Government of Alberta Military Liaison

Related information
- Reservist leave
- G7 Leaders’ Summit
MIL OSI Canada News –
March 28, 2025

MIL-OSI: Albion Enterprise VCT PLC: Interim management report

Source: GlobeNewswire (MIL-OSI)

ALBION ENTERPRISE VCT PLC
LEI Code: 213800OVSRDHRJBMO720
Interim Management Statement

Introduction
I present Albion Enterprise VCT PLC (the “Company”)’s interim management statement for the period from 1 October 2024 to 31 December 2024.

Performance and dividends
The Company’s unaudited net asset value (“NAV”) on 31 December 2024 was £266.8 million or 118.86 pence per share (excluding treasury shares). After accounting for the 13.50 pence per share special dividend paid on 25 October 2024 to shareholders on the register on 4 October 2024, this is an increase of 1.15 pence per share (1.0%) since 30 September 2024.

The Company paid a second interim dividend for the year ending 31 March 2025 of 3.28 pence per share on 28 February 2025 to shareholders on the register on 7 February 2025. After adjusting for this dividend the NAV is 115.58 pence per share.

Albion VCTs Mergers
On 12 November 2024, the Company issued a circular, jointly with the other Albion managed VCTs, proposing, amongst other things, the Merger of the Company with Albion Development VCT PLC (“AADV”) and an offer for subscription. A copy of the circular can be found at www.albion.capital/mergers.

The Merger was approved by the Company’s shareholders at a General Meeting held on 11 December 2024. All the conditions of the Merger were satisfied on 19 December 2024, and accordingly AADV shareholders were issued 112,097,051 shares in the Company at an issue price of 117.00092 pence per share in consideration for the transfer of the assets and liabilities of AADV to the Company which were valued at £131.15 million.

Dividend reinvestment scheme
During the period from 1 October 2024 to 31 December 2024, the Company issued the following new Ordinary shares of nominal value 1 penny per share under the terms of the Dividend Reinvestment Scheme Circular (dated 26 November 2009):

Date of allotment	Number of shares allotted	Issue price (pence per share)	Net invested £’000
25 October 2024	1,987,326	119.46	2,353

Albion VCTs Prospectus Top Up Offers 2024/25
On 12 November 2024 the Company published a prospectus Top Up Offer of new Ordinary shares to raise up to £20 million (before issue costs), including an overallotment facility of £10 million. The Offer of the Company was fully subscribed and closed on 27 February 2025, and the allotment of shares took place on 21 March 2025. Details of the shares allotted can be found in the events after the period end section below.

The proceeds of the Offer will be used to provide further resources to our existing portfolio and to enable us to take advantage of new investment opportunities.

Portfolio
The following investments have been made during the period from 1 October 2024 to 31 December 2024:

*New investments*	£000s	Activity
Ionate	1,807	Developing new hybrid transformers for grid and industrial power networks.
Open Trade Technology	705	Embedded finance to allow fintechs to provide yield products backed by Stablecoins.
*Total new investments*	*2,512*

*Further investments*	£000s	Activity
Convertr Media	408	A customer acquisition platform which tracks advertising leads all the way to sale.
GX Molecular (T/A CS Genetics)	142	Develop single-cell sequencing solutions.
*Total further investments*	*550*

Top ten holdings (on 31 December 2024)

Investment	Carrying value £000s	% of net asset value	Activity
Quantexa	57,899	21.7%	Decision intelligence platform to help solve challenges across customer intelligence, KYC, financial crime, risk management, fraud, and security
Proveca	17,913	6.7%	Reformulation of medicines for children
Oviva	11,307	4.2%	A technology enabled service business in medical nutritional therapy (MNT)
Gravitee TopCo	8,202	3.1%	API management platform
The Evewell Group	6,182	2.3%	Operator and developer of women’s health centres focusing on fertility
Healios	6,049	2.3%	Provider of an online platform delivering family centric psychological care primarily to children and adolescents
Radnor House School (TopCo)	6,016	2.3%	Independent school for children aged 2-18
Panaseer	5,627	2.1%	Provider of cyber security services
Convertr Media	4,588	1.7%	A customer acquisition platform which tracks advertising leads all the way to sale
Runa Network	4,358	1.6%	Cloud platform and infrastructure that enables corporates to issue digital incentives and payouts

A full breakdown of the Company’s portfolio can be found on the Company’s webpage on the Manager’s website at www.albion.capital/vct-funds/AAEV.

Share buy-backs
During the period from 1 October 2024 to 31 December 2024, the Company purchased 678,345 shares for £762,000 (including stamp duty) at an average price of 111.82 pence per share. All of the shares were cancelled.

It remains the Board’s policy to buy back shares in the market, subject to the overall constraint that such purchases are in the Company’s interest, including the maintenance of sufficient resources for investment in existing and new portfolio companies and the continued payment of dividends to shareholders.

It is the Board’s intention for such buy-backs to be at around a 5% discount to net asset value, so far as market conditions and liquidity permit.

Material events and transactions after the period end

After the period end, the Company issued the following new Ordinary shares of nominal value 1 penny per share under the Albion VCTs Prospectus Top Up Offers 2024/2025:

Date of allotment	Number of shares allotted	Issue price (pence per share)	Net consideration received £’000
21 March 2025	16,817,928	117.94p – 119.16p	19,440

The Company also issued the following Ordinary shares of nominal value 1 penny per share under the dividend reinvestment scheme:

Date of allotment	Number of shares allotted	Issue price (pence per share)	Net invested £’000
28 February 2025	1,062,950	113.72	1,188

As part of Quantexa’s recent Series F funding round, which completed in March 2025, the Company made a partial disposal of its holding. The Company received proceeds of £4.7m from the sale of c.8% of its stake in Quantexa representing a 13x return on the weighted average original cost of those shares.

There have been no other material events or transactions after the period end to the date of this announcement.

Further information
Further information regarding historic and current financial performance and other useful shareholder information can be found on the Company’s webpage on the Manager’s website at www.albion.capital/vct-funds/AAEV.

Ben Larkin, Chairman
27 March 2025

For further information please contact:
Vikash Hansrani
Operations Partner
Albion Capital Group LLP
Telephone: 020 7601 1850

The MIL Network –

March 28, 2025

MIL-OSI USA: Senator Murray Statement on Trump’s Sweeping New Illegal Cuts to Critical National Security Initiatives
US Senate News:
Source: United States Senator for Washington State Patty Murray

Trump seeks to gut funding to: combat global narcotics trade, support allies’ defenses, strengthen American competitiveness, and more

Illegal move threatens billions of dollars more for Americans’ housing, NASA, and other critical programs

Washington, D.C. — Today, Senator Patty Murray (D-WA), Senate Appropriations Committee Vice Chair, issued the following statement on illegal cuts President Trump sought to make on Monday to critical investments in America’s national security and competitiveness, which were enacted into law under the yearlong continuing resolution (CR) he signed earlier this month.

“In the latest installment of the president’s campaign to defy our laws and jeopardize our national security in the process, President Trump is attempting to choke off critical investments to combat the flow of fentanyl globally, slash support for the defense of American allies, weaken the competitiveness of U.S. businesses, set back next-generation weather forecasting, and much more. Trump is even slashing investments to help communities that are too often left behind finally get ahead–and his illegal move threatens billions of dollars more in funding to help people keep a roof over their head.

“Cutting off these resources will devastate ongoing national security initiatives that advance our interests across the globe, and I trust Presidents Xi and Putin thank Trump for this latest gift he has delivered them.

“What President Trump has just done is wrongheaded, counterproductive, and unlawful, and I hope my colleagues in Congress join me in working to protect these investments and ensure the law is followed.”

In the fiscal year 2024 appropriations bills, Congress included $12.5 billion in emergency funding for key priorities as allowed by the 2023 Fiscal Responsibility Act (FRA) agreement. Congress routinely includes funds designated as emergency, which are not subject to statutory spending caps, in its spending laws—in both annual funding bills and legislation like the disaster relief package passed in December. House Republicans’ yearlong fiscal year 2025 continuing resolution, which was approved by nearly every Republican Member of Congress and signed into law earlier this month, continued the vast majority of emergency funding included in the fiscal year 2024 appropriations laws.

When statutory caps on discretionary funding are in effect—as they are now under the FRA—Congress has been careful to ensure emergency funding it provides is also designated by the president as emergency funding in order to prevent a sequester of discretionary funding under the Balanced Budget and Emergency Deficit Control Act of 1985, which would result in across-the-board cuts. This is a decades-old practice that has been followed without incident under Democratic and Republican presidents alike. But the law is very clear: the President must certify all or none of the emergency funds provided by Congress. Presidents cannot pick and choose which funds to designate as emergency and keep flowing, as President Trump has now unlawfully done by certifying some but not all of the emergency funding provided for fiscal year 2025. House Republicans’ fiscal year 2025 CR cites fiscal year 2024 appropriations laws that state emergency funding shall be made available “only if the President subsequently so designates all such amounts and transmits such designations to the Congress.” Section 1110 of the fiscal year 2025 CR continues these requirements, which the President is now flouting–effectively seeking to exercise a line-item veto of emergency funding that he simply does not have.

President Trump’s illegal cuts will seriously harm ongoing national security initiatives that keep our country safe and competitive.

In refusing to designate $2.934 billion of the $12.4 billion in emergency funding provided under House Republicans’ yearlong CR, President Trump is attempting to choke off critical investments that keep America and our allies safe. This includes:
- $115 million cut to the State Department’s work combatting international fentanyl and narcotics trade, human trafficking, and other crimes across the globe that impact American communities and other U.S. national security interests.
- $275 million cut to foreign military financing that enables eligible partner nations to purchase U.S.-made weapons, promoting U.S. interests and security cooperation.
- $1.5 billion cut (-17%) to lifesaving U.S. humanitarian assistance.
- $310 million cut (-40%) to U.S. assistance in Europe and Eurasia, which is critical to counter-Russia efforts.
- $300 million cut to economic growth programs that Congress established to increase investment in secure supply chains, digital connectivity and security, and other critical sectors, including to enhance the competitiveness of U.S. businesses.
- $50 million cut to the International Trade Administration’s work to strengthen the competitiveness of U.S. industry abroad and ensure fair trade and compliance with trade laws and agreements. These resources play a critical role in U.S. efforts to counter the People’s Republic of China, Russia, and other competitors and adversaries.
- $20 million cut (-10.5%) to the Bureau of Industry and Security’s vital work advancing U.S. national security through vigilant export controls and the promotion of continued U.S. leadership in technology. These resources play a critical role in U.S. efforts to counter the People’s Republic of China, Russia, and other competitors and adversaries.
- $30 million cut (-7.5%) to the Economic Development Administration’s investments in economically distressed communities across the U.S. and its ongoing work to build durable regional economies across the country.
- $100 million cut to the National Oceanic and Atmospheric Administration’s (NOAA) procurement, acquisition, and construction budget, which—among other things—funds the procurement of next-generation weather radars and satellites that play an indispensable role in providing the American people with accurate weather forecasting.
- $234 million cut (-100%) to the National Science Foundation’s equipment and facilities construction budget, which funds essential upgrades to and construction of new, cutting-edge scientific facilities. This funding supports the new Leadership-Class Computing Facility based in Texas to facilitate and support domestic AI research, the Antarctic Infrastructure Recapitalization, and other projects advancing American innovation, discovery, and security.
President Trump’s illegal attempt to cherry-pick what emergency funding moves–when the law clearly states that the President must certify all or none of the emergency funding provided by Congress–threatens the availability of the entire $12.4 billion in emergency funding provided for fiscal year 2025, which includes more than $9 billion in funding for other critical programs. None of the emergency funding is available to be spent under the law until the President designates all of it. This includes funding for:
- Critical rental assistance that serves more than 7 million people, ensuring they keep a roof over their heads at a time when homelessness and housing unaffordability have hit an all-time high;
- Salaries of Drug Enforcement Administration agents who are combatting the fentanyl crisis;
- Ongoing NASA missions, including the Artemis mission to return Americans to the Moon;
- More.
MIL OSI USA News –
March 28, 2025
MIL-OSI Canada: New Skilled Trades and Technology Building for the New Saskatchewan Polytechnic Joseph A. Remai Saskatoon Campus Proceeding to Request for Proposals
Source: Government of Canada regional news

Released on March 27, 2025

Three (3) teams are advancing to the next stage of procurement for the new Skilled Trades and Technology (Trades) building for the Saskatchewan Polytechnic, Joseph A. Remai Saskatoon Campus. Upon procurement completion, the successful proponent will be awarded the design and construction of the new Trades building under a Design-Build agreement.

“This project is an investment in Saskatchewan’s future, creating a modern, efficient campus to support skilled trades training,” SaskBuilds and Procurement Minister David Marit said. “Advancing to the next stage brings us one step closer to breaking ground and delivering a high-quality facility that will serve Saskatchewan Polytechnic students and industry for years to come.”

The Request for Qualifications closed on February 13, 2025. Five (5) submissions were received and evaluated. After a thorough evaluation process, three (3) teams have been shortlisted to move forward to the Request for Proposals (RFP) stage. The shortlisted teams invited to the RFP stage are:
- Bird Design Build Construction Inc. with Number TEN Architectural Group and 1080 Architecture Planning and Interiors.
- Graham Construction and Engineering LP with Zeidler Architecture Inc. and Kindrachuk Agrey Architects Ltd.
- Ledcor Construction Investments Limited with Wright Construction Western Inc. and Group2 Architecture and Diamond Schmitt Architecture.
Bird Design Build Construction Inc., a builder with deep Canadian roots with more than 100 years of experience across the country, partnered with Number Ten Architectural Group, a Winnipeg-based firm with an ability to create exceptional spaces, and with 1080 Architecture, a Regina-based firm specializing in client-driven architectural and design solutions.

Graham Construction and Engineering LP, known for its roots in Moose Jaw with nearly 100 years of experience delivering commercial and infrastructure projects, partnered with Zeidler Architecture Inc. and Kindrachuk Agrey Architects Ltd., two Canadian architectural firms that are known for creating innovative environments and delivering iconic Canadian landmarks.

Ledcor Construction Investments Limited and Wright Construction Western Inc. partner their Saskatchewan offices through a joint-venture to form a versatile construction company specializing in community infrastructure and cultural projects, with Group 2 Architecture, a firm with expertise in delivering flexible and adaptable education spaces, and Diamond Schmitt Architecture, a firm specializing in sustainable and transformative designs.

“The Skilled Trades and Technology building will play a vital role in training the next generation of professionals to meet Saskatchewan’s labour market needs and fostering innovation across our province,” Advanced Education Minister Ken Cheveldayoff said. “This is an exciting time for the project and Saskatchewan Polytechnic. I look forward to seeing the building come to life and witnessing the impact it will have on post-secondary education in Saskatchewan.”

The new Trades building will begin to transform Saskatchewan Polytechnic’s existing network of decentralized, outdated buildings into a revitalized, modern, technology-rich learning environment. This first development of the new Saskatoon campus will enable students to pursue greater opportunities for applied learning and research.

“Investing in our future innovation leaders is essential to elevating Saskatchewan’s global leadership and impact,” Minister Responsible for Innovation Saskatchewan Warren Kaeding said. “This new building is another step forward to expanding our one-of-a-kind innovation ecosystem, helping the province attract and train top talent and drive economic and employment growth.”

Since 2022-23, the Government of Saskatchewan has provided $18 million for the project. The 2025-26 Provincial Budget included $2 million for continued site preparation work and procurement.

“We are thrilled to move forward with the procurement process for the Skilled Trades and Technology building, in collaboration with the Ministry of SaskBuilds and Procurement,” Saskatchewan Polytechnic President and CEO, Dr. Larry Rosia said. “This building marks the first phase of one of the most significant construction projects at Saskatchewan Polytechnic in the next decade. Construction of the new Joseph A. Remai Saskatoon Campus will not only generate new job opportunities but willalso have a lasting impact on the post-secondary landscape in acrossour province.”

The Ministry of SaskBuilds and Procurement and Saskatchewan Polytechnic are leading this procurement with partnership and collaboration from the Ministry of Advanced Education, Innovation Saskatchewan and the University of Saskatchewan.

The RFP is anticipated to close in November 2025. One successful team will be selected after evaluation. As we move out of the planning phase, site preparation is anticipated to be completed by spring 2025 as construction is expected to begin in early 2026.

-30-

For more information, contact:

MIL OSI Canada News –
March 28, 2025
MIL-OSI: XploraDEX Ignites XRP DeFi – $XPL Presale Heats Up as Whales Accumulate
Source: GlobeNewswire (MIL-OSI)

ZURICH, March 27, 2025 (GLOBE NEWSWIRE) — The $XPL Presale is Now Live, and wallet activity shows that the smartest money in crypto is already securing early positions. With real AI technology, real trading utility, and first-mover status on XRPL, this could be the 100x opportunity XRP holders have been waiting for.

Why the Buzz? XploraDEX Delivers Real Innovation

While most DEXs are playing catch-up, XploraDEX is building the future with:
- AI-Driven Trading Automation – Predictive analytics, auto-execution, and 24/7 intelligent trade strategies
- Smart Liquidity Optimization – Real-time routing that eliminates slippage and maximizes efficiency
- Advanced Insights – AI dashboards offering deep market forecasting, trend tracking, and signal alerts
- Lightning-Fast Transactions on XRPL – Settle trades in 3–5 seconds with near-zero fees
This isn’t just another DeFi protocol. It’s a next-gen platform built for performance, speed, and scalability—powered by real AI.

GET $XPL TOKEN https://sale.xploradex.io

The $XPL Token: Utility, Governance & Serious Upside

The $XPL Token unlocks access to everything inside the XploraDEX ecosystem, including:
- Premium AI tools & trading features
- Staking rewards & passive income
- Fee discounts for active traders
- DAO voting rights for future upgrades
- Liquidity mining incentives for early supporters
And with whale wallets already stacking $XPL, early participants are positioning themselves ahead of what could become XRPL’s most explosive DeFi launch.

$XPL PreSale Information

Token Name: XploraDEX

Total Supply: 500,000,000

Presale Allocation: First Come, First Serve!

DEX Listing: 25% Higher

Liquidity Pools: Launching immediately after TGE!

BUY $XPL TOKEN: https://sale.xploradex.io

Don’t Sit This Out – The $XPL Presale Is Live

The window to grab $XPL Token at presale pricing is closing fast. Investors who act now will enjoy:
- Lower entry price before listing
- Priority access to staking & AI beta tools
- High allocation rewards for early commitment
- Direct impact on protocol development through governance
XploraDEX is not just creating a token, it’s launching an AI-driven trading revolution on XRPL.

Join the AI Revolution on XRP Ledger

If you missed XRP’s last bull run, this is your second shot—with AI, automation, and whale momentum on your side.

The future of trading is intelligent, fast, and built on XRPL. That future is called XploraDEX.

Join the $XPL Presale Now: https://sale.xploradex.io

Stay connected and Join the XploraDEX AI Revolution

Website | $XPL Token Presale | X | Telegram

Contact:
Oliver Muller
oliver@xploradex.io
contact@xploradex.io

Disclaimer: This press release is provided by the XploraDEX. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.

Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.

Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.

Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cada7ee7-597d-43e2-aaa5-7ee8a34a36d2

The MIL Network –
March 28, 2025

MIL-OSI Banking: RBI imposes monetary penalty on Mikhael Capitalize Pvt. Ltd., Kerala

Source: Reserve Bank of India

The Reserve Bank of India (RBI) has, by an order dated March 25, 2025, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Mikhael Capitalize Pvt. Ltd., Kerala (the company) for non-compliance with certain provisions of ‘Master Direction – Non-Banking Financial Company – Non-Systemically Important Non-Deposit taking Company (Reserve Bank) Directions, 2016’ read with ‘Master Direction- Reserve Bank of India (Non-Banking Financial Company-Scale Based Regulation) Directions, 2023’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 58G(1)(b) read with Section 58B(5)(aa) of the Reserve Bank of India Act, 1934.

The correspondence pertaining to the intimation of multiple allotments done by the company through rights issue along with internal transfer of shares between existing shareholders, and appointment of an independent director revealed, inter-alia, non-compliance with RBI directions. Based on the same, a notice was issued to the company advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said directions. After considering the company’s reply to the notice and oral submissions made during the personal hearing, RBI found, inter-alia that the following charges against the company were sustained, warranting imposition of monetary penalty:

The company had:

failed to take prior written permission of RBI for change in its shareholding in excess of 26 per cent of the paid-up equity capital; and
failed to intimate RBI regarding the appointment of an independent director within the prescribed timeline.

This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the company with its customers. Further, imposition of this monetary penalty is without prejudice to any other action that may be initiated by RBI against the company.

(Puneet Pancholy)
Chief General Manager

Press Release: 2024-2025/2487

MIL OSI Global Banks –

March 28, 2025

MIL-OSI: MEXC Announces KiloEx (KILO) Listing with a 100,000 KILO & 175,000 USDT Prize Pool

Source: GlobeNewswire (MIL-OSI)

VICTORIA, Seychelles, March 27, 2025 (GLOBE NEWSWIRE) — MEXC, a leading global cryptocurrency exchange, is pleased to announce the KiloEx (KILO) listing on March 27, 2025(UTC). To celebrate this significant addition to the exchange, MEXC is launching a special event with a prize pool of 100,000 KILO & 175,000 USDT for new and existing users.

KiloEx (KILO) is a decentralized perpetual exchange that combines innovative peer-to-pool trading with advanced risk management features. The project aims to revolutionize derivatives trading by eliminating traditional order books and central intermediaries, creating a more efficient experience for both retail and institutional users. KILO, the platform’s native token, serves multiple purposes, including governance, staking rewards, and fee discounts within the ecosystem. It is also backed by Binance Labs, further strengthening its credibility and potential in the crypto space.

To celebrate the listing, MEXC has launched an exclusive Airdrop+ event with substantial rewards for participants:
Event Period: March 26, 2025, 12:00 (UTC) – April 06, 2025, 12:00 (UTC)
Benefit 1: Deposit and share 100,000 USDT bonus (New user exclusive)
Benefit 2: Spot Challenge — Trade to share 100,000 KILO (For all users)
Benefit 3: Futures Challenge — Trade to share 50,000 USDT in Futures bonus (For all users)
Benefit 4: Invite new users and share 25,000 USDT bonus (For all users)

MEXC has established itself as an industry leader by consistently providing users with early access to promising Web3 projects. In 2024, MEXC introduced 2,376 new tokens, with 1,716 of those being initial listings. According to the latest TokenInsight report, MEXC leads the industry with the highest number of spot listings at 461 and the fastest listing speed. Additionally, the exchange consistently adds new tokens in bi-weekly cycles, showcasing its exceptional ability to quickly capture market trends.

Looking ahead, MEXC will continue to enhance its platform by providing advantages such as low fees, deep liquidity, a wide selection of trending tokens, and daily airdrops, enabling traders to access high-potential projects early, receive generous rewards, and enjoy an optimal trading experience.

For full event details and participation rules, please visit the event page.

About MEXC
Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto.” Serving over 34 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, everyday airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.
MEXC Official Website｜ X ｜ Telegram ｜How to Sign Up on MEXC

Risk Disclaimer:
The information provided in this article regarding cryptocurrencies does not constitute investment advice. Given the highly volatile nature of the cryptocurrency market, investors are encouraged to carefully assess market fluctuations, the fundamentals of projects, and potential financial risks before making any trading decisions.

Source

Contact:
Lucia Hu
PR Manager
lucia.hu@mexc.com

Disclaimer: This press release is provided by MEXC. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining related opportunities involves significant risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector–including cryptocurrency, NFTs, and mining–complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. Speculate only with funds that you can afford to lose. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.

Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7a08cede-d80d-4e63-af63-8d82ed3bd49d

The MIL Network –

March 28, 2025
MIL-OSI United Kingdom: Statement on behalf of the Transition Board
Source: United Kingdom – Executive Government & Departments
News story

Statement on behalf of the Transition Board

English

Cymraeg

The Tata Steel / Port Talbot Transition Board met on 27th March 2025.
The Tata Steel / Port Talbot Transition Board met on 27th March 2025.

The Secretary of State for Wales and Chair of the Transition Board, Rt Hon Jo Stevens MP sought endorsement from the Board on a £3.27 million mental health and well-being fund, designed to support affected workers, families, and associated communities. The funding will bolster and expand the current services provided by the local authority and third sector partners. This support will look to provide grants to community groups, school support, and mental health advisory services.

This has been a challenging time for the communities impacted by Tata Steel UK’s transition. By ensuring the third sector is properly funded, resourced and equipped to deliver essential services within the community, this Board is demonstrating its commitment to securing the right mental health support for those impacted. The Board understands that with this preventative action good mental health and resilience can be safeguarded within the community ensuring a healthy workforce, which in turn steers people away from long term sickness, securing jobs and livelihoods while boosting economic growth for the whole region.

The Board also received updates on:

Tata Steel UK’s decarbonisation programme;

The Department of Business and Trade’s plans for a steel strategy;

The Transition Board funds that have already been announced, including applications received for the Supply Chain fund, and support being provided from the Employment and Skills fund.

Those in attendance included: Rt Hon Jo Stevens MP, Secretary of State for Wales; Rebecca Evans MS, Cabinet Secretary for Economy, Energy and Planning in the Welsh Government; Sarah Jones MP, Minister of State in the Department for Energy Security and Net Zero and the Department of Business and Trade; Cllr Steve K Hunt, Leader of Neath Port Talbot Council; Frances O’Brien, CEO of Neath Port Talbot Council; Rajesh Nair, CEO of Tata Steel UK; Stephen Kinnock, MP for Aberafan Maesteg; David Rees, MS for Aberavon; Luke Fletcher MS for the region of South Wales West; Sarah Williams-Gardener; independent member of the Board; Alun Davies, National Officer for Steel & Metals, Community Union and Tom Hoyles, Politics, Press and Research Officer, GMB Wales.

-ends-

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Published 27 March 2025
MIL OSI United Kingdom –
March 28, 2025
MIL-OSI Russia: Representatives of the State Construction Supervision Authority of St. Petersburg visited the Polytechnic

Translartion. Region: Russians Fedetion –

Source: Peter the Great St Petersburg Polytechnic University – Peter the Great St Petersburg Polytechnic University –

On March 25, 2025, a delegation from the State Construction Supervision and Expertise Service of St. Petersburg visited the Institute of Industrial Management, Economics and Trade. The event was held as part of the development of cooperation between the university and the city administration.

Vladimir Boldyrev, Head of the State Construction Supervision and Expertise Service of St. Petersburg, and his First Deputy Vladislav Balsky gave a lecture for teachers and students. The experts covered in detail the features of the service’s functioning, its tasks and areas of activity, current legislative changes and their impact on control and supervisory activities in 2025.

Modern trends in public administration were of particular interest to students. The greatest attention was drawn to the practical aspects of implementing a client-centric approach and the introduction of digital technologies. After the lecture, the speakers answered questions from the audience.

The meeting with representatives of the State Construction Supervision Authority left a strong impression on me due to their professionalism and openness. The heads of the structure spoke in detail about the legislation concerning building codes and regulations. I especially liked that they actively answered questions and provided useful recommendations for improving the quality of construction projects. Overall, the meeting was productive and contributed to a better understanding of the requirements of the supervisory authorities, – shared 4th-year student in the direction of “State and Municipal Administration” Vali Guliyev.

Before the lecture, the guests were shown the educational building of the IPMEiT. The tour was conducted by the director of the Institute of Industrial Management, Economics and Trade Vladimir Shchepinin and his deputy Arkady Evgrafov.

A working meeting of the service representatives with the Director of IPMEiT Vladimir Shchepinin, the Director of the Higher School of Industrial Management Olga Kalinina, the Acting Director of the Higher School of Public Administration Olga Nadezhina and the Deputy Director of IPMEiT for educational and organizational work Maxim Ivanov was also held.

Key topics of discussion: opening of joint educational programs, development of topics for final qualification works and projects commissioned by the service, holding regular lectures for students (from open lectures to highly specialized events), participation of representatives of the service in state examination committees, teaching disciplines and organizing internships. Particular attention was paid to the professional development of teachers through internships and participation in certification committees of the service, as well as employment of graduates of the Polytechnic University.

The modern construction industry requires not only theoretical knowledge, but also practical skills. Our cooperation will allow students to immerse themselves in real professional tasks and learn from current specialists during their studies, Vladimir Boldyrev noted.

The visit of representatives of the State Construction Supervision and Expertise Service of St. Petersburg is an important step in the development of our strategic partnership. It is especially valuable that students had the opportunity to learn first-hand about modern approaches to control and supervision activities, including digital technologies and a client-centric approach. I am convinced that such meetings not only contribute to the deepening of the educational process, but also open up new opportunities for the employment of our graduates, – emphasized the Director of IPMEiT Vladimir Shchepinin.

The event became an important step in the development of partnership between IPMET and the State Construction Supervision and Expertise Service of St. Petersburg, opening up new opportunities for students and teachers.

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

MIL OSI Russia News –

March 28, 2025
MIL-OSI: SELIGSON & CO OMX HELSINKI 25 EXCHANGE TRADED FUND UCITS ETF: ANNUAL REPORT, BOARD OF THE MANAGEMENT COMPANY AND AUDITOR
Source: GlobeNewswire (MIL-OSI)

Seligson & Co Fund Management Company Plc
STOCK EXCHANGE NOTICE 27 March 2025

SELIGSON & CO OMX HELSINKI 25 EXCHANGE TRADED FUND UCITS ETF: ANNUAL REPORT, BOARD OF THE MANAGEMENT COMPANY AND AUDITOR

The Annual Report of Seligson & Co OMX Helsinki 25 Exchange Traded Fund UCITS ETF, dated 31 December 2024, has been published. The report, which is in Finnish, forms part (pages 44 to 50) of the attached common Annual Report for the Seligson & Co funds. The report and the Auditor’s Report are also available at www.seligson.fi/sco/suomi/esitteet/.

The following members were elected to the board of Seligson & Co Fund Management Company Plc at the Annual General Meeting held on 27 March 2025: Ari Kaaro, Samu Anttila and Mikko Vasko. KPMG Plc was chosen as the auditor and CPA Marcus Tötterman as the deputy auditor.

Further information:

Mari Rautanen
email: mari.rautanen@seligson.fi
Phone +358 (0)9 6817 8224

Seligson & Co Fund Management Company Plc
Aleksi Härmä
Managing Director
email: aleksi.harma@seligson.fi
Phone +358 (0)9 6817 8235

Attachments
- Seligson & Co -rahastojen vuosikertomus 31.12.2024
- Seligson&Co Rahastoyhtiö Oyjn rahastot_ttk 2024_2
The MIL Network –
March 28, 2025
MIL-OSI: Defiance’s XMAG ETF Outshines S&P 500 Amid “Magnificent 7” Crash, Proving Its Value as a Diversification Powerhouse

Source: GlobeNewswire (MIL-OSI)

MIAMI, March 27, 2025 (GLOBE NEWSWIRE) — Defiance ETFs, a trailblazer in innovative exchange-traded funds, is proud to spotlight the strong performance of the Defiance Large Cap Ex-Magnificent Seven ETF (XMAG), which has outpaced the S&P 500 in 2025 as the so-called “Magnificent 7” tech giants—Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta, and Tesla—face a significant downturn. Launched in October 2024, XMAG has quickly emerged as a game-changing tool for investors seeking to diversify and manage concentration risk in a market rattled by the Mag 7 crash.

Unlike traditional S&P 500 funds, XMAG tracks the BITA US 500 ex-Magnificent 7 Index, offering exposure to the largest 500 U.S. equities while deliberately excluding the Mag 7. This strategic design has paid off handsomely this year, delivering robust returns and stability at a time when overexposure to these tech titans has dragged down broader market performance. As the S&P 500 struggles under the weight of the Mag 7’s decline, XMAG stands out as a core replacement for large-cap exposure—a direct, smarter alternative to the S&P 500.

“Investors and advisors have long been overexposed to the Magnificent 7 through mutual funds, ETFs, and individual stock portfolios,” said Sylvia Jablonski, CEO and CIO of Defiance ETFs. “This year’s market dynamics have exposed the risks of that concentration, and XMAG has proven its worth as a powerful solution. It’s not just about dodging the Mag 7 crash—it’s about delivering diversified, resilient returns that redefine large-cap investing.”

With the Mag 7’s dominance waning, XMAG offers a timely and effective way to rebalance portfolios, reduce risk, and capture the strength of the broader U.S. equity market. Its performance in 2025 underscores its role as an essential tool for advisors and investors looking to pivot away from tech-heavy strategies and embrace a more balanced approach to growth.

“XMAG isn’t a niche play—it’s a core holding,” Jablonski added. “It’s the diversification investors have been craving, and the results speak for themselves. As the market evolves, XMAG is setting a new standard for large-cap exposure.”

For more information on XMAG and how it can transform your portfolio, visit www.defianceetfs.com or contact Defiance ETFs at info@defianceetfs.com.

About Defiance ETFs Founded with a mission to empower investors with cutting-edge tools, Defiance ETFs is a leader in thematic and innovative ETF solutions. Based in Miami, Defiance is committed to delivering strategies that meet the evolving needs of the modern investor

Contact Information

David Hanono

info@defianceetfs.com

833.333.9383

Important Disclosures

Defiance ETFs LLC is the ETF sponsor. The Fund’s investment adviser is Tidal Investments, LLC (“Tidal” or the “Adviser”).

The Fund’s investment objectives, risks, charges, and expenses must be considered carefully before investing. The prospectus and summary prospectus contain this and other important information about the investment company. Please read the prospectus and / or summary prospectus carefully before investing. Hard copies can be requested by calling 833.333.9383.

Investing involves risk. Principal loss is possible. As an ETF, the funds may trade at a premium or discount to NAV. Shares of any ETF are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. A portfolio concentrated in a single industry or country, may be subject to a higher degree of risk.

Tracking Error Risk. As with all index funds, the performance of the Fund and the Index may differ from each other for a variety of reasons.

Large-Capitalization Investing. The securities of large-capitalization companies may be relatively mature compared to smaller companies and therefore subject to slower growth during times of economic expansion. Large-capitalization companies may also be unable to respond quickly to new competitive challenges, such as changes in technology and consumer tastes.

Market Events Risk. The Fund’s investments are subject to changes in general economic conditions, general market fluctuations and the risks inherent in investment in securities and other financial instruments. Investment markets can be volatile and prices of investments can change substantially due to various factors.

Passive Investment Risk. The Fund is not actively managed and does not attempt to outperform the Index or take defensive positions in declining markets. As a result, the Fund’s performance may be adversely affected by a general decline in the market segments relating to the Index.

New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.

Diversification does not ensure a profit nor protect against loss in a declining market.

Brokerage Commissions may be charged on trades.

The Fund holds 0% in Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta, and Tesla.

Distributed by Foreside Fund Services, LLC

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1578c4c6-57a2-4dc4-b82f-5a180fbc8052

The MIL Network –

March 28, 2025
MIL-OSI: BexBack Empowers Traders with 100x Leverage, Double Deposit Bonus, and No KYC — Join the New Era of Crypto Futures
Source: GlobeNewswire (MIL-OSI)

SINGAPORE, March 27, 2025 (GLOBE NEWSWIRE) — As crypto markets heat up once again, traders around the world are looking for faster, smarter, and more powerful ways to profit. Enter BexBack, a next-generation cryptocurrency futures exchange offering up to 100x leverage, no KYC requirements, and generous bonuses for new users — making it one of the most accessible and rewarding platforms for both beginner and experienced traders.

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- Double Deposit Bonus
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- $50 Welcome Bonus
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- Demo Account for Beginners
  Practice without risk using a demo account preloaded with 10 BTC in virtual funds — perfect for building strategies before going live.
- Zero Deposit Fees
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- Global Access and 24/7 Support
  BexBack is available in over 200 countries with dedicated 24/7 multilingual support and fast manual withdrawal review, backed by cold wallet protection.
Built for Security and Performance

All user funds on BexBack are stored in secure multi-signature cold wallets. Even in the case of a cyberattack, your funds are protected. Withdrawals are processed with multiple layers of manual review to ensure security, typically completed within 30–60 minutes.

Start Trading Now — No Delays, No Limits

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Sign up and claim your 100% deposit bonus and $50 welcome reward today. Don’t miss out on the next bull run — trade smarter with BexBack.

Website: www.bexback.com

Contact: business@bexback.com

Contact:
Amanda
business@bexback.com

Disclaimer: This content is provided by BexBack The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining related opportunities involves significant risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector–including cryptocurrency, NFTs, and mining–complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. Speculate only with funds that you can afford to lose. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.

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Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/74a33ef3-9e93-4d7a-b89d-4208d9f02e5a

https://www.globenewswire.com/NewsRoom/AttachmentNg/760ef62f-0fbf-421a-b30e-5907f517d1f1

https://www.globenewswire.com/NewsRoom/AttachmentNg/92a8af54-e797-4724-b98e-c7e002e15972

https://www.globenewswire.com/NewsRoom/AttachmentNg/0754b5b6-5f4e-4e03-9915-8bfc0ae0f031

The MIL Network –
March 28, 2025
MIL-OSI Global: Wild marmots’ social networks reveal controversial evolutionary theory in action

Source: The Conversation – USA – By Conner Philson, Executive Director, UCSB Natural Reserve System, University of California, Santa Barbara

A small group of wild yellow-bellied marmots near the Rocky Mountain Biological Laboratory in Colorado. D.T. Blumstein

It probably feels obvious that having a close friend can influence your well-being. But do the groups that you’re a part of also affect your well-being? For example, does the culture of your work colleagues influence your productivity?

It may seem like the answer is also an obvious “yes.” But the idea that a group’s composition or structure can affect the individuals in it has been among the most controversial ideas in biology.

This phenomenon, called multilevel selection, is an extension of natural selection: the process by which organisms with traits better suited to their environment are more likely to survive and reproduce. Over generations, these advantageous traits – behavioral, morphological or physiological – become more common in the population.

In the traditional view of how evolution works, natural selection acts on an individual organism’s traits. For instance, mammals with more friends typically live longer lives and have more offspring. The trait under selection in this case is the number of social connections.

Multilevel selection proposes that at the same time selection is happening on the traits of individuals, selection also acts on the traits of groups. Here’s an example: Living in a more social and interconnected group may be beneficial for the members of that group, meaning the group’s traits are under selection. In nature, this means individuals in well-connected groups may live longer lives and have more offspring because well-connected groups may be better at finding limited resources or detecting predators. The traits of the group as a whole are what’s under selection in this case.

Multilevel selection could even select for traits that seem at odds at the individual and group levels. For instance, it could mean that selection favors individuals that are more reserved while at the same time favoring groups that are very social, or vice versa.

Multilevel selection has been a controversial idea since Charles Darwin first suggested that groups likely affect individuals in his 1871 book “The Descent of Man.”

The only evidence for multilevel selection acting simultaneously on individuals’ social relationships and on social groups comes from laboratory experiments. Experiments like these are vital to the scientific process, but without evidence for multilevel selection in wild animals, the 154-year-old debate rages on. As two field biologists interested in the evolution of behavior, we investigated multilevel selection in the wild by studying yellow-bellied marmots.

Our newly published study provides support for this contested concept, suggesting that the structure of the groups marmots are members of may matter for survival just as much as, if not more than, the friendly one-on-one relationships they have with other marmots.

Conner Philson observing the marmots’ social behavior.
G. Johnson

Spying on marmots’ social lives

It’s taken a century and a half to answer the question of multilevel selection because you need an incredible amount of data to have an adequate sample size to address it.

Scientists at the Rocky Mountain Biological Laboratory in Crested Butte, Colorado, have been studying the marmots nearby since 1962. This research is the second-longest study of individually identifiable wild mammals in the world.

Each year, the team ensures that all marmots are individually marked. We trap them so we can give them unique ear tags and paint a mark on their back that lets us identify them from afar. Then trained “marmoteers,” as we call them, spend about 1,000 hours a year watching these chunky cat-sized rodents through binoculars and spotting scopes.

Since 2003, the team has paid particular attention to the marmots’ social interactions and relationships. Our analysis of multilevel selection was based on 42,369 unique affiliative social interactions – behaviors such as playing and grooming – between 1,294 individuals from 180 social groups, with group sizes ranging from two to 35 marmots. We also tracked how long marmots lived – up to 16 years in some cases – and how many offspring individual animals had each year.

Using this data, we mapped out the marmots’ social networks. Our goal was to identify how many social relationships each marmot had, who was connected to whom, and the overall structure of each group.

From year to year, marmots formed different small social networks, connecting with various other individuals.
Maldonado-Chaparro et al, Behavioral Ecology, 2015.

Understanding all these marmot connections let us ask two crucial questions. First, how do social relationships affect individual survival and reproduction – that is, what individual traits are under selection? Second, how do social groups affect individual survival and reproduction – in other words, what group traits are under selection?

Importantly, we didn’t ask these two questions in isolation – we asked them at the same time. After all, marmots are influenced simultaneously by both their social relationships and the social groups they’re part of. Our statistical approach, which researchers call contextual analysis, tells us how much social relationships and social groups matter relative to each other.

New evidence changes the debate

It can be tricky to distinguish how group-level selection differs from traditional individual-level selection. It’s like a more complex version of thinking about the relationships that affect an individual. Instead of just your own behavior affecting you, your group – a product of many individuals – is affecting you.

Our new analysis shows that there is indeed multilevel selection for social behavior in the wild. We found that not only do both social relationships and social groups affect individual animals’ survival and reproduction, but social groups matter just as much, if not more. We calculated the selection gradient, a measure of how strong the selection is on a trait, to be 0.76 for individual traits, while for group traits it was 1.03.

Four juvenile yellow-bellied marmots play together.
D.T. Blumstein

Interestingly, the type of impact on survival and reproduction wasn’t always the same across the two levels. In some cases, selection favored marmots with fewer social relationships while favoring marmots living in more social and connected groups. In human terms, think of an introvert at a really bustling party.

Evolution and multilevel selection are complex natural processes, so these types of complicated findings are not unexpected.

Multilevel selection is relevant for human groups, too, which come in many forms, whether friend groups, local communities, businesses we frequent or work at, economies or even entire nations. Our marmot study suggests it’s not uniquely human for groups at every level to have consequences for individual success.

This work was supported by the UCLA, American Society of Mammalogists, Animal Behaviour Society, Rocky Mountain Biological Laboratory (RMBL), the Natural Sciences and Engineering Research Council of Canada, the University of Ottawa, National Geographic Society, and the U.S. National Science Foundation.

Daniel T. Blumstein received funding from UCLA, the Rocky Mountain Biological Laboratory (RMBL), the National Geographic Society, and the U.S. National Science Foundation. He is the President of the Board of Trustees at the RMBL where the research was conducted.

– ref. Wild marmots’ social networks reveal controversial evolutionary theory in action – https://theconversation.com/wild-marmots-social-networks-reveal-controversial-evolutionary-theory-in-action-252710

MIL OSI – Global Reports –

March 28, 2025
MIL-OSI: WRAP Bolsters Leadership with Top 1MDB Investigators and FBI Veteran Rob Heuchling to Drive Technology Commercialization for Transnational Crime Solutions
Source: GlobeNewswire (MIL-OSI)

WRAP Expands Capabilities: Leveraging Investigative Expertise in Financial Crimes, Crypto and Cybersecurity to Commercialize Managed Services Offering

MIAMI, March 27, 2025 (GLOBE NEWSWIRE) — Wrap Technologies, Inc, (NASDAQ: WRAP) (“Wrap” or, the “Company”), a global leader in innovative public safety technologies and non-lethal tools, today announced the appointment of Robert Heuchling as Managing Director of the Company, bringing over 15 years of experience from the Federal Bureau of Investigation (“FBI”) and providing advisory services to the Company’s executive team.

Wrap plans to expand its managed service business lines, with Mr. Heuchling expected to play a key role in commercializing an offering that combines his investigative expertise with his deep familiarity with a wide range of investigative data sets, tools and technologies. Wrap also plans to develop unique technology solutions that integrate advanced investigative capabilities, empowering agencies to address complex financial crimes, cyber threats and transnational law enforcement challenges with greater efficiency and precision.

While at the FBI, Mr. Heuchling supervised a squad based in New York City responsible for foreign corruption, international money laundering and antitrust investigations. In that role, Mr. Heuchling forged relationships with law enforcement agencies across the globe and developed strategies to collaborate with foreign counterparts to solve complex transnational crime cases.

Mr. Heuchling will once again be working with his former FBI supervisor, Bill McMurry, Chief Executive Officer of Managed Services. Together, Mr. McMurry and Mr. Heuchling led the U.S. investigation into 1Malaysia Development Berhad, or 1MDB, a Malaysian sovereign wealth fund from which more than $4.5 billion was stolen through a complex fraud and corruption scheme involving individuals from multiple countries. The investigation resulted in the largest asset recovery in U.S. Department of Justice history and is considered a model for success in international investigations.

Jared Novick, President of Wrap, stated: “The addition of Rob Heuchling, joining his former colleague Bill McMurry at Wrap, provides our global clients and the agencies we support with a unique opportunity to leverage their unparalleled expertise alongside our advanced technologies. We believe their deep investigative experience in financial crimes, cyber threats and transnational law enforcement, combined with Wrap’s cutting-edge solutions, will allow us to deliver unmatched support for the most pressing challenges facing law enforcement and security professionals worldwide. We are thrilled to have them on board as we expand our managed services and drive innovation in public safety.”

Background

Prior to joining the FBI, Mr. Heuchling served as an engineer and communications officer in the United States Navy. He is a graduate of the Medill School of Journalism at Northwestern University and has received numerous accolades from both the FBI and the military. His honors include:
- the Assistant Attorney General’s Exceptional Service Award;
- the Federal Law Enforcement Foundation’s “Investigator of the Year” Award;
- the FBI Medal of Excellence; and
- the Naval Commendation Medal.
About Wrap Technologies, Inc.

Wrap Technologies, Inc. (Nasdaq: WRAP) is a global leader in public safety solutions, bringing together cutting-edge technology with exceptional people to address the complex, modern day challenges facing public safety organizations.

Wrap’s BolaWrap^® solution is a safer way to gain compliance—without pain.

This innovative, patented device deploys light, sound, and a Kevlar^® tether to safely restrain individuals from a distance, giving officers critical time and space to manage non-compliant situations before resorting to higher-force options. The BolaWrap 150 does not shoot, strike, shock, or incapacitate—instead, it helps officers operate lower on the force continuum, reducing the risk of injury to both officers and subjects. Used by over 1,000 agencies across the U.S. and in 60 countries, BolaWrap^® is backed by training certified by the International Association of Directors of Law Enforcement Standards and Training (IADLEST), reinforcing Wrap’s commitment to public safety through cutting-edge technology and expert training.

Wrap Reality™ VR is a fully immersive training simulator to enhance decision-making under pressure.

As a comprehensive public safety training platform, it provides first responders with realistic, interactive scenarios that reflect the evolving challenges of modern law enforcement. By offering a growing library of real-world situations, Wrap Reality™ equips officers with the skills and confidence to navigate high stakes encounters effectively, leading to safer outcomes for both responders and the communities they serve.

Wrap Intrensic is an advanced body-worn camera and evidence management system built for efficiency.

Designed for efficiency, security, and transparency to meet the rigorous demands of modern law enforcement, Intrensic seamlessly captures, stores, and manages digital evidence, ensuring integrity and full chain-of-custody compliance. With automated workflows, secure cloud storage, and intuitive case management tools, it streamlines operations, reduces administrative burden, and enhances courtroom credibility.

Trademark Information Wrap, the Wrap logo, BolaWrap^®, Wrap Reality™ and Wrap Training Academy are trademarks of Wrap Technologies, Inc., some of which are registered in the U.S. and abroad. All other trade names used herein are either trademarks or registered trademarks of the respective holders. Cautionary Note on Forward-Looking Statements – Safe Harbor Statement This release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Words such as “expect,” “anticipate,” “should”, “believe”, “target”, “project”, “goals”, “estimate”, “potential”, “predict”, “may”, “will”, “could”, “intend”, and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Moreover, forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond the Company’s control. The Company’s actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to: the expected benefits of the acquisition of W1 Global, LLC, the Company’s ability to maintain compliance with the Nasdaq Capital Market’s listing standards; the Company’s ability to successfully implement training programs for the use of its products; the Company’s ability to manufacture and produce products for its customers; the Company’s ability to develop sales for its products; the market acceptance of existing and future products; the availability of funding to continue to finance operations; the complexity, expense and time associated with sales to law enforcement and government entities; the lengthy evaluation and sales cycle for the Company’s product solutions; product defects; litigation risks from alleged product-related injuries; risks of government regulations; the business impact of health crises or outbreaks of disease, such as epidemics or pandemics; the impact resulting from geopolitical conflicts and any resulting sanctions; the ability to obtain export licenses for counties outside of the United States; the ability to obtain patents and defend intellectual property against competitors; the impact of competitive products and solutions; and the Company’s ability to maintain and enhance its brand, as well as other risk factors mentioned in the Company’s most recent annual report on Form 10-K, subsequent quarterly reports on Form 10-Q, and other Securities and Exchange Commission filings. These forward-looking statements are made as of the date of this release and were based on current expectations, estimates, forecasts, and projections as well as the beliefs and assumptions of management. Except as required by law, the Company undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations. Investor Relations Contact: (800) 583-2652 ir@wrap.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9f9f323f-41be-4b9e-8c86-0cc26de2ab82

This press release was published by a CLEAR® Verified individual.

The MIL Network –
March 28, 2025

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