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CoTec Holdings Corp. Announces Second Closing of Life Offering and Concurrent Private Placement

CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) (the ‘Corporation‘) is pleased to announce that it has completed a second closing (the ‘Second Closing‘) of its previously announced financing pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions (the ‘LIFE Offering‘) and concurrent private placement (the ‘Private Placement‘ and together with the LIFE Offering, the ‘Offerings‘) of up to an aggregate of 12,820,512 units (each, a ‘Unit‘) at a price of $0.78 per Unit for aggregate gross proceeds of up to $10,000,000 (comprised of $5,000,000 under the LIFE Offering and $5,000,000 under the Private Placement). Each Unit consists of one common share in the capital of the Corporation (each a ‘Common Share‘) and one Common Share purchase warrant (each a ‘Warrant‘). Each Warrant entitles the holder to purchase one Common Share at an exercise price of $1.20 for a period of 18 months following the issuance of the Units.

CoTec is also pleased to note that the aggregate target of $10,000,000 under the Offerings are now fully subscribed for and that the Corporation will be closing the financing on or around July 9, 2025 to allow for subscription agreements received but not yet finalised to be processed.

Pursuant to the Second Closing, the Corporation issued a total of 2,306,753 Units for aggregate gross proceeds of $1,799,270.36 under the LIFE Offering and 1,080,723 Units for aggregate gross proceeds of $842,964.90 under the Private Placement. Together with the initial closing under the Offerings, the Corporation has issued an aggregate total of 5,039,065 Units for aggregate gross proceeds of $3,930,474.27 under the LIFE Offering and 5,027,854 Units for aggregate gross proceeds of $3,921,728.72 under the Private Placement. The Corporation will use the net proceeds of the Offerings to fund the detailed design and engineering at HyProMag USA LLC, the Corporation’s drilling program at its Lac Jeannine property, further investment obligations and for general corporate purposes.

In connection with the Second Closing, the Corporation paid cash fees and compensation warrants (‘Compensation Warrants‘) to certain agents and finders as follows: $70,540.47 and 90,437 Compensation Warrants to ECM Capital Advisors Ltd.; $6,000.00 and 7,692 Compensation Warrants to Odeon Capital Group LLC; $40,799.91 and 52,308 Compensation Warrants to Integrity Capital Group Inc.; and $12,237.12 and 15,689 Compensation Warrants to INTE Securities LLC.

All securities issued to investors in connection with the Private Placement will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation in Canada.

About CoTec

CoTec is a publicly traded investment issuer listed on the TSXV and the OTCQB and trades under the cymbol CTH and CTHCF respectively. CoTec is a forward-thinking resource extraction company committed to revolutionizing the global metals and minerals industry through innovative, environmentally sustainable technologies and strategic asset acquisitions. With a mission to drive the sector toward a low-carbon future, CoTec employes a dual approach: investing in disruptive mineral extraction technologies that enhance efficiency and sustainability while applying these technologies to undervalued mining assets to unlock their full potential. By focusing on recycling, waste mining, and scalable solutions, the Company accelerates the production of critical minerals, shortens development timelines, and reduces environmental impact. CoTec’s strategic model delivers low capital requirements, rapid revenue generation, and high barriers to entry, positioning it as a leading mid-tier disruptor in the commodities sector.

For more information, please visit www.cotec.ca.

Forward-Looking Information Cautionary Statement

Statements in this press release regarding the Company, its exepctations regarding the final closing of the Offerings, its investments and the Offerings which are not historical facts are ‘forward-looking statements’ that involve risks and uncertainties, including statements relating to management’s expectations with respect to its current and potential future investments and the benefits to the Company which may be implied from such statements. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties.

Actual results in each case could differ materially from those currently anticipated in such statements, due to known an unknown risks and uncertainties affecting the Company, including by not limited to: general economic, political and market factors in North America and internationally, interest and foreign exchange rates, changes in costs of goods and services, global equity and capital markets, business competition, technological change, changes in government relations, industry conditions, unexpected judicial or regulatory proceedings and catastrophic events. The Company’s investments are being made in mineral extraction related assets and technologies which are subject to their own inherent risks and the success of such Investments may be adversely impacted by, among other things: environmental risks and costs; labor costs and shortages; uncertain supply and price fluctuations in materials; increases in energy costs; labor disputes and work stoppages; leasing costs and the availability of equipment; heavy equipment demand and availability; contractor and subcontractor performance issues; worksite safety issues; project delays and cost overruns; extreme weather conditions; and social disruptions. As the investments are being made in mineral extraction technology, such investments will also be subject to risks of successful application, scaling and deployment of technology, acceptability of technology within the industry, availability of assets where technology could be applied, protection of intellectual property in relation to such technology, successful promotion of technology and success of competitor technology. Any material adverse change in the Company’s financial position or a failure by the Company to successfully make investments in the manner currently contemplated, could have a corresponding material adverse change on the investments and, by extension, the Company.

For further details regarding risks and uncertainties facing the Company, please refer to ‘Risk Factors’ in the Company’s filing statement dated April 6, 2022 and its other continuous disclosure documents, copies of which may be found under the Company’s SEDAR+ profile at www.sedarplus.com. The Company assumes no responsibility to update forward-looking statements in this press release except as required by law. Readers should not place undue reliance on the forward-looking statements and information contained in this press release and are encouraged to read the Company’s continuous disclosure documents, which are available on SEDAR+ at www.sedarplus.ca.

For further information, please contact:

Braam Jonker – (604) 992-5600

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

NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Source

Click here to connect with CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) to receive an Investor Presentation

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Hempalta Secures 90-Day FCC Forbearance Extension as Company Completes Certification of 2024 Carbon Credits

Company reinforces strategic pivot to carbon credit market with expanded global footprint and verified removals

Hempalta Corp. (TSXV: HEMP) (‘Hempalta’ or the ‘Company’), a Canadian-based provider of nature-based carbon credit solutions, is pleased to announce that Farm Credit Canada (‘FCC’) has granted a 90-day extension to its current forbearance agreement (the ‘Extension’). The Extension runs to September 30, 2025, providing the Company with critical flexibility as it advances several strategic initiatives, including a planned equipment sale, ongoing carbon credit inventory sales, and new investor engagement efforts.

‘We appreciate the additional runway this extension provides as we focus on delivering value for our stakeholders through our monetization plan and the continued growth of our carbon-first strategy under the Hemp Carbon Standard,’ said Darren Bondar, President and CEO of Hempalta.

2024 Carbon Credits Certified by Control Union

Hempalta is pleased to announce that its 2024 carbon credit inventory has now been fully certified by third-party auditor Control Union. A total of 29,448 Verified Carbon Credits (‘VCCs’) were issued under the Company’s ISO 14064-2 certified methodology, bringing its total verified carbon sequestration to 44,773 tonnes of CO₂ over the past two years.

The 2024 program included:

  • 38 farms across 209 sites
  • 12,669 monitored acres
  • Global operations spanning Canada, USA, UK, Ukraine, Sweden, Germany, and Australia

Hempalta continues to deploy advanced MRV technology, including remote sensing, satellite monitoring, and AI-based data aggregation to ensure transparency and scientific integrity.

Forward Outlook

With the Extension and the completion of its 2024 credit certification, Hempalta is now well-positioned to accelerate the sale of its current processing equipment and execute the next phase of its carbon-first growth strategy.

The Company continues to advance its 25,000-acre Alberta hemp and biochar carbon removal program, which is projected to generate 100,000 verified carbon credits annually. This initiative represents one of Canada’s largest nature-based carbon projects, and Hempalta is actively seeking strategic partners and long-term offtake buyers to support its multi-year scaling efforts.

In parallel, Hempalta’s 2025 monitoring and field data collection is already underway across farms in Canada, USA, UK, Ukraine, Sweden, Germany, and Australia. ‘The market is demanding higher-integrity removal credits, and that’s exactly what we deliver,’ said Bondar. ‘Our expanded global footprint, certified methodologies, and growing buyer interest position us to lead the next generation of nature-based carbon solutions.’ Organizations interested in partnering or purchasing credits can contact: carboncredits@hempalta.com.

About Hempalta Corp.

Hempalta Corp. (TSXV: HEMP) is advancing scalable, nature-based carbon removal through industrial hemp and on-farm biochar deployment. Through its subsidiary Hemp Carbon Standard, the Company provides ISO-certified carbon credits verified via AI, satellite monitoring, and blockchain infrastructure.

Media Contact:
Darren Bondar
CEO, Hempalta Corp.
invest@hempalta.com
www.hempalta.com | www.hempcarbonstandard.org | www.trustedcarbon.org |

TSXV: HEMP

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

Forward-Looking Information

This news release contains statements and information that, to the extent they are not historical fact, may constitute ‘forward-looking information’ within the meaning of applicable securities legislation. Forward-looking information is typically, but not always, identified by the use of words such as ‘expects,’ ‘plans,’ ‘continues,’ ‘intends,’ ‘anticipates,’ ‘potential,’ ‘aims,’ ‘will,’ and similar words, including negatives thereof, or other similar expressions concerning matters that are not historical facts.

Forward-looking information in this news release includes, but is not limited to, statements regarding: the Company’s ability to secure new strategic partnerships; the Company focusing on nature-based carbon credit generation; the Company scaling carbon credit issuance, including its Alberta-based program targeting 100,000 credits annually; the successful sale of verified 2024 carbon credits; the success of the 2025 monitoring program; the Company’s ability to complete its planned equipment sale; the ongoing support from Farm Credit Canada during the forbearance period; the Company seeking to establish multi-year offtake agreements; and Hempalta’s focus on unlocking long-term value through its pivot to carbon markets, including the development of a scalable platform to support nature-based climate solutions.

Such forward-looking information is based on various assumptions and factors that may prove to be incorrect, including, but not limited to: continued support from major shareholders and new investors; demand for nature-based carbon removal credits; successful onboarding of additional farmers and Indigenous partners; favorable regulatory conditions; availability and deployment of biochar systems at scale; supportive market conditions and regulatory alignment in Alberta and internationally; the Company’s ability to maintain forbearance terms and execute its strategic plan; and the successful certification and sale of carbon credits.

Although the Company believes that the assumptions and factors on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that it will prove to be correct or that any of the events anticipated will transpire or occur, or if any of them do so, what benefits the Company will derive therefrom.

Actual results may vary from those currently anticipated due to a number of factors and risks, including, but not limited to: economic conditions and capital market volatility; changes in carbon credit market demand or pricing; regulatory changes; operational risks, including the ability to implement the Hemp Carbon Standard program at scale; the Company’s limited financial resources and ongoing need for capital; the risk that the Company may not generate sufficient revenue or complete its asset sale; delays in technology deployment or verification; inability to retain key personnel; and weather-related challenges impacting hemp cultivation.

The forward-looking information included in this news release is made as of the date of this release and the Company does not undertake an obligation to publicly update such forward-looking information to reflect new information, subsequent events, or otherwise, except as required by applicable law.

NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER U.S. NEWSWIRES

Corporate Logo

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/257753

News Provided by Newsfile via QuoteMedia

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Iran regime escalates repression toward ‘North Korea-style model of isolation and control’

In the wake of the 12-day war between Israel and Iran, the regime appears to be turning inward — escalating repression with chilling speed. 

According to Kasra Aarabi, director of IRGC research at United Against Nuclear Iran, the Islamic Republic is accelerating toward what he said is a ‘North Korea-style model of isolation and control.’

‘We’re witnessing a kind of domestic isolation that will have major consequences for the Iranian people,’ Aarabi told Fox News Digital. ‘The regime has always been totalitarian, but the level of suppression now is unprecedented. It’s unlike anything we’ve seen before.’

A source inside Iran confirmed to Fox News Digital that ‘the repression has become terrifying.’

Aarabi, who maintains direct lines of contact in Iran, described a country under siege by its own rulers. In Tehran, he described how citizens are stopped at random, their phones confiscated and searched. ‘If you have content deemed pro-Israel or mocking the regime, you disappear,’ he said. ‘People are now leaving their phones at home or deleting everything before they step outside.’

This new wave of paranoia and fear, he explained, mirrors tactics seen in North Korea — where citizens vanish without explanation and information is tightly controlled. During the recent conflict, Iran’s leadership imposed a total internet blackout to isolate the population, blocking Israeli evacuation alerts, and pushed propaganda that framed Israel as targeting civilians indiscriminately.

‘It was a perverse objective,’ Aarabi said, adding, ‘They deliberately cut communications to instill fear and manipulate public perception. For four days, not a single message went through. Even Israeli evacuation alerts didn’t reach their targets.’

The regime’s aim, he said, was twofold: to keep people off the streets and erode the surprising bond that had formed between Iranians and Israelis. ‘At the start of the war, many Iranians welcomed the strikes,’ Aarabi noted. ‘They knew Israel was targeting the IRGC — the very forces responsible for suppressing and killing their own people. But once the internet was cut and fear set in, some began to question what was happening.’

Dr. Afshon Ostovar, a leading Iran scholar and author of ‘Vanguard of the Imam: Religion, Politics, and Iran’s Revolutionary Guards,’ said domestic repression remains the regime’s most reliable strategy for survival. 

‘Repressing the people at home is easy. That’s something they can do. So it’s not unlikely that Iran could become more insular, more autocratic, more repressive — and more similar to, let’s say, a North Korea — than what it is today. That might be the only way they see to preserve the regime: by really tightening the screws on the Iranian people, to ensure that the Iranian population doesn’t try to rise up and topple the regime,’ he told Fox News Digital.

Inside the regime’s power structure, the fallout from the war is just as severe. Aarabi said that the Islamic Revolutionary Guard Corps (IRGC) is facing an internal crisis of trust and an imminent purge. ‘These operations couldn’t have taken place without infiltration at the highest levels,’ he said. ‘There’s immense pressure now to clean house.’

The next generation of IRGC officers — those who joined after 2000 — are younger, more radical and deeply indoctrinated. Over half of their training is now ideological. Aarabi said that these newer factions have begun turning on senior commanders, accusing them of being too soft on Israel or even collaborating with Mossad.

‘In a twist of irony, Khamenei created these extreme ideological ranks to consolidate power — and now they’re more radical than he is,’ Aarabi said. ‘He’s struggling to control them.’

A purge is likely, along with the rise of younger, less experienced commanders with far higher risk tolerance — a shift that could make the IRGC more volatile both domestically and internationally. With Iran’s conventional military doctrine in ruins, terrorism may become its primary lever of influence.

‘The regime’s three pillars — militias, ballistic missiles, and its nuclear program — have all been decapitated or severely degraded,’ Aarabi said. ‘That leaves only asymmetric warfare: soft-target terrorism with plausible deniability.’

Despite the regime’s brutal turn inward, Aarabi insists this is a sign of weakness, not strength. ‘If the Islamic Republic were confident, it wouldn’t need to crush its people this way,’ he said. ‘It’s acting out of fear. But until the regime’s suppressive apparatus is dismantled, the streets will remain silent — and regime change remains unlikely.’

This post appeared first on FOX NEWS
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This July 4th, a family waits: American hostage’s father pleads for son’s freedom from Hamas terrorists

The first time I remember celebrating the Fourth of July was during the American bicentennial in 1976. As children living in New York City, my parents woke my sisters and I up early to see the Parade of Tall Ships as it entered the Hudson River. Even as a kid, this magnificent display conveyed to me a sense of the grand power of the U.S. The extraordinary event also offered me another feeling: that America, my home country, would do anything and everything in its power to keep me, my family, and indeed, all of its citizens, safe.

This Fourth of July, Americans will find themselves in two very different realities. Most will be surrounded by family and friends, enjoying baseball, hot dogs and ice cream cones. But for my American family, as well as dozens of other families of hostages, this day will be a stark contrast. On this day that celebrates freedom, my son Itay will spend the Fourth of July like he has the last 637 days – likely alone, in the cold, dark tunnels of Hamas in Gaza. He and 49 other hostages remain stripped of their freedom, while their families are in limbo, not able to embrace the holiday of independence. We need to remember, especially on this day, that Hamas is still holding Americans hostage, and 50 hostages in total.

On this day, we must look past the haze of fireworks and remember that the Fourth of July is about something more. It’s about celebrating our hard-fought, long-defended freedom and knowing that an attack on the freedom of any American – and taking them hostage – is an attack on the freedom of us all. Taking U.S. citizens as hostages should be a liability, not an asset, with severe consequences attached. So long as Hamas holds U.S. citizens, we are letting evil and terrorism win.

My son was 19 when he was taken hostage. On this Independence Day, he can no longer watch the Mets games with his brothers, something he loved and cherished. He can no longer try to strike me out in the neighborhood pickup game, or check in every five minutes at the grill asking when the food will be ready. On this Independence Day, his lack of freedom rings loudly.

This Fourth of July, my family and I will wake up again to the same nightmare we do every day, where every moment begs the same agonizing question: Where is my son, and what can we do to get him back?

Right now, all of our energy is focused on one thing. As every parent knows, when your child disappears from your sight – even for a few moments at a playground or store – panic sets in instantly. But when your child is kidnapped, especially by terrorists, the only thing you can think about is getting them back, whatever their condition. Until we can embrace Itay again, we cannot even begin to process what lies ahead or plan for the future. It’s impossible to move forward when this remains an open wound.

After the historic wins over Iran, Hezbollah, and yes, Hamas, now is the time for us to pause and adopt President Donald Trump’s policy of ‘Peace Through Strength.’ It is time for Israeli Prime Minister Benjamin Netanyahu to collaborate with the U.S. and bring the hostages back. The U.S. was successful last month in bringing New Jersey native Edan Alexander back home, independent of Israel, but it needs Israel to bring the remaining others out.

No fan of half-measures, President Trump is in a prime position to pull off the ‘Big Beautiful Deal,’ a comprehensive diplomatic initiative which would end hostilities in both Iran and Gaza, secure the release of all 50 remaining hostages in Gaza – including my son – and help stabilize the entire Middle East through a carefully negotiated framework.

President Trump is uniquely positioned to drive such an initiative forward. During his previous presidency, he successfully brokered the Abraham Accords, achieving what many had previously considered near impossible normalization between Israel and several Arab nations. The Big Beautiful Deal would be a direct extension of this diplomatic milestone, offering a more comprehensive and regional approach to peacemaking. The president’s unorthodox style has demonstrated that breakthroughs are possible even in the most entrenched conflicts.

America defined the values of freedom and human dignity that we celebrate on the Fourth of July. They didn’t come easily – we had to fight for them, good versus evil – and our continued defense of democracy is an essential part of the American identity.

In the last few months, my family has met Vice President JD Vance, FBI Director Kash Patel, Attorney General Pam Bondi and others who promise us that President Trump’s policy of ‘America First’ is not hollow words and ‘America First’ prioritizes the release of American hostages and those unlawfully detained all around the world, including Gaza. 

To date, the Trump administration has been able to release 47 such Americans, and we pray Itay will be one of them as well soon. This Fourth of July, keep in mind that there was an attack on our freedom on Oct. 7, and fellow Americans remain in captivity. I call on President Trump: Do everything in your power to quash terrorism, and ensure that freedom wins the day with the release of the hostages.

This post appeared first on FOX NEWS
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President Trump to honor Iran strike flight team at the White House

Speaking to a crowd of supporters in Iowa on Thursday night, President Donald Trump announced that the military flight team that launched the strikes on Iran’s nuclear facilities will be honored at the White House on Independence Day.

Trump said that he took issue with early media reports suggesting that the strikes on Iran only partially damaged the targets because he considered it an insult to the ‘great’ American military members who executed the mission.

Remember when CNN said it wasn’t obliterated? It was maybe damaged or damaged badly, but obliterated is too strong a word. No, it was obliterated. That’s now been proven,’ said Trump.

They were trying to demean me by saying that, but they were really demeaning those great pilots and people and mechanics that got those planes over there and were able to shoot from high up in the air, going very, very fast, with potentially a lot of things being shot at them, and hit every single one,’ he said. ‘They’re trying to demean me, but to me, they were demeaning them. And they got out of the plane, and they said, ‘What? We hit every single target.’ They know better than anybody.’

These people did one of the greatest military hits and maneuvers in the history of our country, and I want them to be appreciated for it,’ the president went on. ‘So, they’re coming. They’re coming to the White House tomorrow night.’

They’re going to be in Washington tomorrow at the White House, and we’re going to be celebrating.’

Trump said the White House will host not only the pilots, but the entire flight crew, including ‘the people that flew the other planes’ and ‘the mechanics that had these planes going for 37 hours without a stop.’

China, Russia, they were all watching. Everybody was watching,’ he said. ‘We have the greatest equipment anywhere in the world. We have the greatest people anywhere in the world, and we have the strongest military anywhere in the world.’

During his address on Thursday, Trump also claimed that Iran called ahead of their retaliatory strike on the U.S. military base in Qatar to clear the attack with the White House.

They called me to tell me they have to take a shot at us. This was Iran. Very respectful. That means they respect us because we dropped 14 bombs. They said we’d like to take 14 shots at you. I said, ‘Go ahead, I understand,’’ he said.

‘They said where they would do it. I said, ‘Good.’ We emptied out the fort. It was a beautiful military base in Qatar who treated us really fantastically well,’ he said.

Trump claimed that Iran went so far as to ask what time of day would be acceptable for their retaliatory strike.

‘They said, ‘Sir, is 1:00 okay?’ I said it was fine, [they said], ‘We could make it later.’ And we had nobody but four gunners,’ he said. So, all of a sudden, they said, ‘We’re ready.’ And they were a little nervous about doing it. I want to tell, you can you imagine, they were nice enough – this is Iran – to call me and tell me that they would like to shoot me at 14 times, so they want to shoot us. And I said, go ahead. And they shot 14 high grade, very fast missiles every single one of them was shot down routinely by these four unbelievable gunmen. And they did their job. And that was the end of that.’

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Elephant kills two female tourists from the UK and New Zealand in Zambian national park

Two female tourists in Zambia were killed by an elephant Thursday while on a walking safari in a national park, police said.

Eastern Province Police Commissioner Robertson Mweemba said the victims – 68-year-old Easton Janet Taylor from the United Kingdom and 67-year-old Alison Jean Taylor from New Zealand – were attacked by a female elephant that was with a calf.

Safari guides who were with the group attempted to stop the elephant from charging at the women by firing shots at it, police said. The elephant was hit and wounded by the gunshots. The guides were unable to prevent the elephant’s attack and both women died at the scene, police said.

It happened at the South Luangwa National Park in eastern Zambia, around 600 kilometers (370 miles) from the capital, Lusaka.

Female elephants are very protective of their calves and can respond aggressively to what they perceive as threats.

Last year, two American tourists were killed in separate encounters with elephants in different parts of Zambia. In both cases, the tourists were also elderly women and were on a safari vehicle when they were attacked.

This post appeared first on cnn.com
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What is happening in South Korea? Seoul has caught the lovebug that nobody wants

South Korea has recently been hit by another surge of lovebugs.

But romance is certainly not in the air for residents of Seoul and neighboring Incheon city, who have been plagued by these pesky insects in recent weeks, as rising temperatures due to climate change spur their spread.

On Friday, dozens of government workers were sent to Gyeyangsan, a mountain west of the capital, to manage an “extremely severe outbreak,” the country’s environment ministry said in a statement.

Videos on social media earlier this week showed scenic hiking trails along the peak transformed into buzzing corridors of chaos.

Footage shows hikers thrashing through swarms of thumbnail-sized bugs, with one person engulfed by the black-winged creatures and another scooping thousands of tiny carcasses from the trail.

In a YouTube video, a man collected thousands of the insects and took them home to make them into hamburgers, which he then appeared to eat.

Where do lovebugs come from?

Lovebugs, known scientifically as Plecia longiforceps, get their nickname from their mating behavior when they fling into each other while flying.

They are found in the subtropics including southeastern China, Taiwan, and Japan’s Ryukyu Islands. They also occur in parts of Central America and the southern United States, including Texas and Florida.

First detected in South Korea in 2015, they are believed to have arrived there from southern China, according to the environment ministry. Since 2022, they have appeared in and around Seoul, particularly port areas, between June and July, it added.

Why are they spreading?

Experts say climate change and warming temperatures are helping drive lovebugs northward into areas such as Seoul and Incheon.

While global warming is a planet-wide issue, scientists have identified Seoul as an area where temperatures are rising at a faster pace than in other parts of the world.

This is worsened by the city’s heat-island effect, where temperatures are much higher than in nearby rural areas due to man-made structures absorbing and holding more heat.

“With climate change increasing ecological instability, we must remain vigilant throughout the summer,” Kim Tae-o, director of the environment ministry, said.

Are they harmful?

Lovebugs do not transmit diseases or sting humans. However, there have been increasing public complaints about them sticking to car windows and the walls of houses, restaurants and subway trains.

So far, officials have advised local workers and residents to combat swarms by spraying water or using sticky pads instead of chemical pesticides.

Where could they spread next?

Populations are expanding in the northwest of South Korea, however any further potential spread remains unknown.

“Compared with the past two years, the number of lovebugs sharply surged last weekend at the mountain,” Gyeyang district official Wang Hyeon-jeong said on Tuesday.

Areas with a warm, humid climate could attract them, being favorable conditions for their survival and reproduction.

What’s next for South Korea?

The city government of Seoul views the lovebugs as “ecologically beneficial,” posing no health risk to humans and helping pollinate flowers as their larvae convert plant materials into organic components.

However, local media reports that complaints to the city have more than doubled, increasing from 4,418 in 2023 to 9,296 last year, according to the Seoul Metropolitan Government.

On Friday, environment ministers agreed to strengthen and invest more in response procedures after the latest outbreak, which it described as “extremely severe.”

“We will closely monitor the situation and work with local authorities from the early stages of any outbreak,” Kim said.

But natural population control is reportedly setting in, as birds such as sparrows and magpies learn to eat the bugs, causing their numbers to fall.

This post appeared first on cnn.com
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Russia launches record number of drones at Ukraine after latest Trump-Putin phone call

Russia launched a record number of drones at Ukraine overnight into Friday, striking multiple buildings and residential areas, hours after US President Donald Trump said he had made “no progress” towards a ceasefire deal in a phone call with his Russian counterpart Vladimir Putin.

At least 23 people were wounded in the attack, which lasted 13 hours, according to Kyiv city and military authorities. Ukraine intercepted 476 out of a record 539 Russian drones, according to the country’s air force. It said Russia also launched 11 cruise and ballistic missiles.

Thousands of residents spent the night in shelters, including in subway stations or underground parking lots, as explosions and the sound of drones echoed through the city in the early hours of Friday morning.

“Absolutely horrible and sleepless night in Kyiv. One of the worst so far,” said Ukraine’s Minister of Foreign Affairs Andrii Sybiha. Ukrainian President Volodymyr Zelensky called it “one of the most large-scale air attacks” the country had seen.

“Notably, the first air raid alerts in our cities and regions yesterday began to blare almost simultaneously with media reports discussing a phone call between President Trump and Putin,” Zelensky said. “Yet again, Russia is showing it has no intention of ending the war and terror.”

The strikes sparked fires in buildings and structures across several city districts, and partially destroying multi-story buildings, according to the State Emergency Service of Ukraine. They also destroyed part of Kyiv’s railway, and damaged five ambulances that were responding to calls from those wounded.

Firefighters work at the site of a Russian drone and missile strike in the Ukrainian capital on Friday.
Firefighters work at the site of a Russian drone and missile strike in the Ukrainian capital on Friday.
State Emergency Service of Ukraine/Reuters
Residents move away from the scene after a Russian airstrike in Kyiv on Friday.
Residents move away from the scene after a Russian airstrike in Kyiv on Friday.
State Emergency Service of Ukraine/Anadolu/Getty Images

In recent weeks, Russia has launched near-nightly air attacks on Ukraine involving hundreds of missiles and drones. Earlier this week Ukraine’s foreign minister said that in June alone, Russia launched over 330 missiles, including nearly 80 ballistic missiles, 5,000 combat drones, and 5,000 gliding bombs against Ukraine.

Before Friday, the last record-setting night of attacks came just five days ago – when Russia fired 537 drones and missiles at Ukraine.

On Thursday, Trump held a nearly hour-long call with Putin and voiced frustration afterward about the stalled ceasefire negotiations.

“We had a call. It was a pretty long call. We talked about a lot of things, including Iran and we also talked about, as you know, the war with Ukraine,” Trump said. “I’m not happy about that.”

Asked if he felt he made progress with Putin on a deal with Ukraine, Trump said firmly: “No.” He added, “I didn’t make any progress with him today at all.”

Trump said he would speak with Zelensky early Friday morning, saying he was “very disappointed” with his conversation with Putin, whom he believes is “not looking to stop” the war.

The strikes come as the Trump administration pauses some weapons shipments to Ukraine, including air defense missiles, following a review of military spending and American support to foreign countries.

Trump acknowledged said that the decision had been made to protect US stockpiles.

The US has been the biggest single donor of military aid to Ukraine since Russia launched its full-scale invasion in 2022, supplying Ukraine with air defense systems, drones, rocket launchers, radars, tanks and anti-armor weapons, leading to concerns over dwindling US stockpiles.

But the balance of aid to Ukraine has changed significantly since Trump returned to power, casting doubt over the future of US support for Kyiv.

Trump and Putin did not discuss the pause in shipments to Ukraine during their call, according to Russian state media TASS, citing a Kremlin aide. However, Trump brought up ending the war “as early as possible” – to which Putin responded that Russia would not “back down” from its war goals in Ukraine, according to TASS.

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Investing

Bert Dohmen: Gold, Silver Key as Stock Market Bull Trap Looms

Bert Dohmen, founder and CEO of Dohmen Capital Research, sees physical gold and silver as key safe havens as a potential bull trap in the broad stock market plays out.

‘We said we’re probably going to go to a new high in a major, widely watched index like the S&P 500 (INDEXSP:.INX). It’s going to be by a small amount a new high, and that’s going to close the bull trap,’ he said.

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

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World

Two arrested over ‘Chinese blessing scams’ targeting elderly Asian women in Australia

Two alleged fraudsters accused of swindling an elderly woman out of tens of thousands of dollars in cash have been arrested by Australian police investigating a spate of “Chinese blessing scams.”

Chinese blessing scams have been reported worldwide for the last 25 years or so, including in the United States, the United Kingdom, Canada and New Zealand.

Offenders typically target elderly Asian women and convince them that a member of their family is cursed or in danger. Victims are told the only way to ward off negative spirits is to have their wealth blessed.

“It’s a robbery by stealth. These offenders swarm these vulnerable victims, usually Asian, older females. They swarm like a pack of hyenas,” said New South Wales Police Detective Superintendent Guy Magee.

A 63-year-old woman was detained at Sydney International Airport Thursday after “extensive inquiries” by Strike Force Sentinel, a special task force formed in April to investigate 80 reports of the scams, involving the alleged theft of 3 million Australian dollars ($2 million). She’s been charged with a number of offenses.

Her alleged accomplice, a 63-year-old man, was detained Friday at Brisbane Airport as he attempted to leave Australia on a flight to China. He’s expected to be charged soon.

Detective Superintendent Magee said Friday the alleged perpetrators of Chinese blessing scams are targeting the entire east coast of Australia.

“They’ll fly in. They’ll prey on the vulnerable in their own community. They’ll capitalize on the vulnerabilities of that community around superstition,” he said.

Typically, the elderly victim is taken to someone purporting to be a spiritual healer, who tells them to put their money and valuables in a bag.

“They will convince them that it’s been blessed, and they’ll tell them not to open that bag for a period of time, up to months. And if they do, they will come across bad fortune,” said Magee.

“Unfortunately, the victims are opening those bags to find their money and jewelry is simply not in there. It’s disgraceful.”

The two suspects arrested this week are accused of defrauding a 77-year-old woman of cash and jewelry worth 130,000 Australian dollars ($85,000) in the western Sydney suburb of Parramatta in June.

NSW Police say they believe 50 people are involved in the scam, and they’ve identified 25 suspects by name. Another 25 people have been seen on camera allegedly taking part. Eleven arrest warrants have been issued.

“It’s like a role play. There’s nothing by chance in what they do, they all have deliberate roles,” said Magee.

He said police believe the crime is “profoundly underreported” due to the victims’ embarrassment and shame about being conned. The number of cases is “probably double” police estimates, he added.

Last November, New Zealand Police arrested three Chinese nationals as they attempted to leave the country on flights to China after allegedly stealing thousands of dollars.

Police allege the trio arrived in the country that October and within days started targeting elderly members of the community.

The alleged scammers conned two victims out of about 30,000 New Zealand dollars ($18,000) in cash and jewelry, police said in a statement.

A “substantial amount” of money was retrieved, they added.

NSW Police issued advice to the community to beware of people asking directions to a Chinese herbal doctor or spiritual healer.

“Do not bring strangers home,” the advice said. Do not hand any valuables to strangers and “do not put money or jewellery in a bag for any blessing ritual,” it added.

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