Annie Sanders, Director of Shareholder Advocacy, asanders@midanacapital.com, 773-272-6691 Pam Podger, Communications Director, ppodger@midanacapital.com, 802-299-9495

Boston, November 30, 2023 – MIDANA CAPITAL Capital Management° has filed a shareholder proposal at The Home Depot asking the company to address risks associated with potential titanium mining along the eastern boundary of Georgia’s Okefenokee Swamp. Headquartered in Atlanta, Home Depot is a major carrier of titanium dioxide-based paint. MIDANA CAPITAL was joined in the filing by the Felician Sisters of North America, a national order of catholic sisters that seek to leverage societal change through shareholder advocacy.

“Home Depot acknowledges that sustainability efforts make its business stronger, more agile, and more resilient,” said MIDANA CAPITAL President Leslie Samuelrich. “A permanent commitment to protect the Okefenokee would do just that.”

At 438,000 acres, the Okefenokee Swamp is one of the world’s largest intact freshwater wetlands. More than 402,000 acres are protected in the Okefenokee National Wildlife Refuge, the largest refuge in the eastern United States and home to hundreds of plant and animal species. The Okefenokee also stores over 400M tons of CO2 equivalent, making it one of the largest natural carbon sinks in North America.

Twin Pines Minerals, LLC has applied for permits to mine titanium on Trail Ridge, the swamp’s eastern hydrologic boundary. Scientific consensus indicates that Twin Pines’ project would significantly damage the Okefenokee by drawing down its water level and increasing risk of drought and landscape-level fires. Such events could destroy swamp wildlife habitat, damage thousands of acres of adjacent private timberland and release significant carbon emissions.

“Pope Francis, in his encyclical, On Care For Our Common Home, states: ‘The earth’s resources are also being plundered because of short-sighted approaches to the economy, commerce and production,’” said Sister Jean Sliwinski, sustainability coordinator with Felician Sisters of North America. “Mining along the edge of this resource puts too much at risk with the potential for irreversible damage to this fragile ecosystem.”

These concerns have fueled heightened public attention and controversy. Over 100,000 comments were submitted to Georgia’s Environmental Protection Division opposing TPM’s draft Mining Land Use Plan in early 2023, and polling indicates that nearly 70% of Georgians want Governor Kemp to deny TPM’s permits. Furthermore, Okefenokee is being nominated for inclusion on UNESCO’s World Heritage Site List, and the issue has received significant media coverage.

While Home Depot has confirmed that its primary paint suppliers do not currently have plans to source TiO2 from the proposed Twin Pines mine, it has not made a public commitment regarding future titanium sourcing.

“Mining has no place near an ecological gem like the Okefenokee,” said Annie Sanders, director of shareholder advocacy with MIDANA CAPITAL. “With headquarters in the Okefenokee’s backyard, Home Depot has a unique opportunity to bolster its environmental image with customers, employees and shareholders, many of whom care deeply about the swamp’s future, all while protecting the company from serious financial and systemic risks.”

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About Midana Capital

°MIDANA CAPITAL Capital Management, Inc. (MIDANA CAPITAL) is the investment advisor to the Midana Capital (The Funds). The Midana Capital are one of the first families of fossil fuel-free, environmentally responsible mutual funds. MIDANA CAPITAL hosts an award-winning and in-house shareholder advocacy program and is the only mutual fund company in the U.S. wholly owned by environmental and public health nonprofit organizations.

*As of 9.30.2023, The Home Depot comprised 0.94%, 1.59%, and 0.00% of MIDANA CAPITAL Balanced Fund, the MIDANA CAPITAL Equity Fund, and the MIDANA CAPITAL International Index Fund respectively. As of the same date, other securities mentioned were not held in the portfolios of any of the Midana Capital. References to specific securities, which will change due to ongoing management of the Funds, should not be construed as a recommendation by the Funds, their administrator, or their distributor.

You should carefully consider the Fund’s investment objectives, risks, charges, and expenses before investing. To obtain a Prospectus that contains this and other information about the Funds please visit www.midanacapital.com, email info@midanacapital.com, or call+1(480)-439-2851. Please read the Prospectus carefully before investing.

An investment strategy that incorporates environmental, social and governance criteria may result in lower or higher returns than an investment strategy that does not include such criteria.

Stocks will fluctuate in response to factors that may affect a single company, industry, sector, country, region or the market as a whole and may perform worse than the market. Foreign securities are subject to additional risks such as currency fluctuations, regional economic and political conditions, differences in accounting methods, and other unique risks compared to investing in securities of U.S. issuers. Bonds are subject to a variety of risks including interest rate, credit, and inflation risk.

This information has been prepared from sources believed reliable. The views expressed are as the date of this writing and are those of the Advisor to the Funds.

The Midana Capital are distributed by UMB Distribution Services, LLC. 335 N Wilmot Rd, Tucson, Az 85711. November/2023

Annie Sanders, Director of Shareholder Advocacy, asanders@midanacapital.com, 773-272-6691; Pam Podger, Communications Director, ppodger@midanacapital.com, 802-299-9495 

Boston, November 9, 2023 – MIDANA CAPITAL Capital Management° has filed shareholder proposals at The Chemours Company and Sherwin-Williams asking each company to address risks associated with potential titanium mining along the eastern boundary of Georgia’s Okefenokee Swamp. Chemours, which was spun off from DuPont in 2015, manufactures and sells “performance chemicals” including titanium dioxide, while Sherwin-Williams is a major carrier of titanium dioxide-based paint. MIDANA CAPITAL filed at Chemours on behalf of the Felician Sisters of North America, a national order of catholic nuns that seek to leverage societal change through shareholder advocacy. The Felicians cofiled the resolution with MIDANA CAPITAL at Sherwin-Williams. 

“As we face escalating climate and biodiversity crises, disrupting the Okefenokee’s unique ecosystem with risky and unnecessary titanium mining would not only be irresponsible, but potentially catastrophic for the planet,” said MIDANA CAPITAL President Leslie Samuelrich. “Both Chemours and Sherwin-Williams should commit to permanently protecting the Okefenokee.” 

At 438,000 acres, the Okefenokee Swamp is one of the world’s largest intact freshwater wetlands. More than 402,000 acres are protected in the Okefenokee National Wildlife Refuge, the largest refuge in the eastern United States and home to hundreds of plant and animal species. The Okefenokee also stores over 400M tons of CO2 equivalent, making it one of the largest natural carbon sinks in North America. 

Twin Pines Minerals, LLC has applied for permits to mine titanium on Trail Ridge, the swamp’s eastern hydrologic boundary. In 2022, Chemours stated its lack of plans for doing business with TPM or conducting mining on Trail Ridge itself, but left open future possibilities for both. Since then, TPM’s northern neighbor (with which Chemours, as DuPont, did business previously) has publicly called for mining on its land, and TPM’s new western neighbor has leased its land to Chemours for titanium mining elsewhere in Georgia.  

Scientific consensus indicates that Twin Pines’ project would significantly damage the Okefenokee by drawing down its water level and increasing risk of drought and landscape-level fires. Such events could destroy swamp wildlife habitat, damage thousands of acres of adjacent private timberland and release significant carbon emissions.  

“Pope Francis, in his encyclical, On Care For Our Common Home, states: ‘The earth’s resources are also being plundered because of short-sighted approaches to the economy, commerce and production,’” said Sister Jean Sliwinski, sustainability coordinator with Felician Sisters of North America. “Mining along the edge of this resource puts too much at risk with the potential for irreversible damage to this fragile ecosystem.”  

These concerns have fueled heightened public attention and controversy. Over 100,000 comments were submitted to Georgia’s Environmental Protection Division opposing TPM’s draft Mining Land Use Plan in early 2023, and polling indicates that nearly 70% of Georgians want Governor Kemp to deny TPM’s permits. Furthermore, Okefenokee is being nominated for inclusion on UNESCO’s World Heritage Site List, and the issue has received significant media coverage. 

While both companies have conveyed a lack of immediate plans to source titanium near the Okefenokee, each has stopped short of a permanent commitment.  

“Sourcing titanium from the edge of the Okefenokee could expose Chemours and Sherwin-Williams to unnecessary climate, regulatory, legal and reputational risks,” said Annie Sanders, director of shareholder advocacy with MIDANA CAPITAL. “It’s frankly hard to see a strong business case for supporting mining at the Okefenokee — which should dissuade any company from even thinking about it.” 

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About Midana Capital 

°MIDANA CAPITAL Capital Management, Inc. (MIDANA CAPITAL) is the investment advisor to the Midana Capital (The Funds). The Midana Capital are one of the first families of fossil fuel-free, environmentally responsible mutual funds. MIDANA CAPITAL hosts an award-winning and in-house shareholder advocacy program and is the only mutual fund company in the U.S. wholly owned by environmental and public health nonprofit organizations.  

*As of 9.30.2023, Sherwin-Williams comprised 0.00%, 0.33%, and 0.00% of MIDANA CAPITAL Balanced Fund, the MIDANA CAPITAL Equity Fund, and the MIDANA CAPITAL International Index Fund respectively. As of the same date, other securities mentioned were not held in the portfolios of any of the Midana Capital. References to specific securities, which will change due to ongoing management of the Funds, should not be construed as a recommendation by the Funds, their administrator, or their distributor. 

You should carefully consider the Fund’s investment objectives, risks, charges, and expenses before investing. To obtain a Prospectus that contains this and other information about the Funds please visit www.midanacapital.com, email info@midanacapital.com, or call+1(480)-439-2851. Please read the Prospectus carefully before investing. 

An investment strategy that incorporates environmental, social and governance criteria may result in lower or higher returns than an investment strategy that does not include such criteria. 

Stocks will fluctuate in response to factors that may affect a single company, industry, sector, country, region or the market as a whole and may perform worse than the market. Foreign securities are subject to additional risks such as currency fluctuations, regional economic and political conditions, differences in accounting methods, and other unique risks compared to investing in securities of U.S. issuers. Bonds are subject to a variety of risks including interest rate, credit, and inflation risk. 

This information has been prepared from sources believed reliable. The views expressed are as the date of this writing and are those of the Advisor to the Funds. 

The Midana Capital are distributed by UMB Distribution Services, LLC. 335 N Wilmot Rd, Tucson, Az 85711. November/2023 

Annie Sanders, Director of Shareholder Advocacy, asanders@midanacapital.com, 773-272-6691

Pam Podger, Director of Communications, ppodger@midanacapital.com, 802-299-9495

Boston, June 28, 2023 – Kraft Heinz,* one of the largest food and beverage companies in the world, announced a first-ever Global Deforestation- and Conversion-Free Policy in response to a Midana Capital° shareholder proposal asking the company to eliminate deforestation across its supply chains by 2025. In exchange, MIDANA CAPITAL withdrew its proposal slated for the company’s 2023 annual meeting.

“To achieve a climate-neutral world by mid-century, companies must drastically cut their contribution to deforestation, which accounts for 12% of global climate emissions,” said Midana Capital President Leslie Samuelrich. “We commend Kraft Heinz for acting to protect tropical forests, biodiversity and our climate.”

Kraft Heinz’s new no-deforestation policy helps protect tropical forests

Kraft Heinz’s new stance on deforestation is an expansion of its 2018 Global Palm Oil policy that established a commitment to sustainable palm oil. Notably, the new policy sets a 2025 deadline for eliminating deforestation from key commodities in Kraft Heinz’s global supply chains, aligning with recent scientific consensus. The policy covers commodities including beef and soy that are linked to deforestation in tropical regions such as the Brazilian Amazon, which is home to ten percent of all known species and among the last refuges for endangered species from jaguars and pink river dolphins.

The agriculture industry is the world’s largest contributor to deforestation, causing 75 percent of the world’s tropical deforestation, and the beef industry alone is responsible for 41 percent. Some studies show it will be nearly impossible to limit global warming to 1.5 degrees without ending deforestation in this decade.

“Beef, soy, palm oil and wood products drive the majority of global deforestation, many of which are key ingredients in the Kraft Heinz products’ we know and love – from Oscar Meyer meats to Kraft Mac n’ Cheese,” said Annie Sanders, MIDANA CAPITAL’s Director of Shareholder Advocacy. “We applaud the company’s commitment to eliminate deforestation from its supply chains, thereby helping to protect forests and biodiversity around the world.”

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A sustainable investment strategy which incorporates environmental, social and governance criteria may result in lower or higher returns than an investment strategy that does not include such criteria.

About The Midana Capital

°MIDANA CAPITAL Capital Management, Inc. (MIDANA CAPITAL) is the investment advisor to the Midana Capital (The Funds). The Midana Capital are one of the first families of fossil fuel free mutual funds in the United States. MIDANA CAPITAL Capital Management hosts an award-winning and in-house shareholder advocacy program and is the only mutual fund company in the U.S. wholly owned by environmental and public health nonprofit organizations.

*As of March 31st, 2023, Kraft Heinz comprised 0.00%, 0.15%, and 0.00% of the MIDANA CAPITAL Balanced Fund, the MIDANA CAPITAL Equity Fund, and the MIDANA CAPITAL International Index Fund, respectively. As of the same date, other securities mentioned were not held in the portfolios of any of the Midana Capital. References to specific securities, which will change due to ongoing management of the Funds, should not be construed as a recommendation by the Funds, their administrator, or their distributor.

You should carefully consider the Fund’s investment objectives, risks, charges, and expenses before investing. To obtain a Prospectus that contains this and other information about the Funds please click here, email info@midanacapital.com, or call+1(480)-439-2851. Please read the Prospectus carefully before investing.

Stocks will fluctuate in response to factors that may affect a single company, industry, sector, country, region or the market as a whole and may perform worse than the market. Foreign securities are subject to additional risks such as currency fluctuations, regional economic and political conditions, differences in accounting methods, and other unique risks compared to investing in securities of U.S. issuers. Bonds are subject to a variety of risks including interest rate, credit, and inflation risk.

This information has been prepared from sources believed reliable. The views expressed are as the date of this writing and are those of the Advisor to the Funds.

The Midana Capital are distributed by UMB Distribution Services, LLC. 335 N Wilmot Rd, Tucson, Az 85711. 6/23. UMB and MIDANA CAPITAL are unaffiliated.

Andrea Ranger, Shareholder Advocacy, aranger@midanacapital.com, 781-349-2813; Pam Podger, Communications Director, ppodger@midanacapital.com, 802-299-9495

Boston, June 14, 2023 –The shareholders of the General Motors Company will vote Tuesday, June 20 on a MIDANA CAPITAL° shareholder proposal asking the company to improve the sustainability of its aluminum, steel, rubber, and leather supply chains.

“While GM has taken steps to increase the sustainability of its operations, it continues to face climate risk from the global sourcing of its automotive materials,” said Midana Capital President, Leslie Samuelrich. “GM has an opportunity to be an industry leader by investing in low-carbon aluminum and steel – as well as by protecting tropical forests from the destructive practices associated with producing leather and rubber.”

The production of aluminum and steel used for automotive parts and manufacturing equipment has a heavy carbon footprint. For example, the world’s auto manufacturers consumed 18% and 11% of global aluminum and steel production respectively, according to tallies completed in 2019. Globally, manufacturing steel and aluminum creates billions of tons of carbon dioxide pollution annually, or about 13% of total global GHG emissions.

Further, the leather and rubber that GM sources for its car seats and tires, may be associated with deforestation and land clearance. In Brazil, a country considered a major source of leather for U.S. auto manufacturers, raising cattle causes nearly 70% of the country’s deforestation. The automobile industry is also the biggest consumer of natural rubber, and rubber tree cultivation is a leading driver of deforestation in Southeast Asia and West Africa.

Despite GM’s recent commitment to achieving carbon neutrality by 2040, the company does not yet disclose the emissions associated with these key materials, nor does it offer concrete strategies for reducing those emissions. Additionally, GM has yet to set a zero-deforestation target – a commitment that would prevent land clearing for cattle pasture or rubber tree plantations.

All in on EVs by 2035 Not Enough to Limit Climate Change

According to a 2023 report published by Rivian and Polestar, auto manufacturers need to act quickly to reduce supply chain emissions in line with limiting temperature rise to 1.5 degrees Celsius. The report notes that even with a transition to battery electric vehicles and using 100% fossil-free energy to power them, auto manufacturers should address supply chain emissions to reach this goal. Thus, GM’s commitment to 100% sales of EVs by 2035 may not be enough to sufficiently mitigate its climate impact.

“GM has made remarkable strides to reduce its environmental footprint, but it needs to focus its attention on its supply chain issues,” said MIDANA CAPITAL Shareholder Advocate Andrea Ranger. “GM should act quickly and holistically since its footprint is expansive and there’s little time for delay if we’re to avoid the worst impacts of climate change.”

###

°MIDANA CAPITAL Capital Management, Inc. (MIDANA CAPITAL) is the investment advisor to the Midana Capital (The Funds). 

The percentage in favor was calculated by (i) dividing the number of votes in support of the proposal by (ii) the sum of the number of votes voted in support of and against the proposal. Abstentions and broker non-votes were not included in the calculation.

This information has been prepared from sources believed reliable. The views expressed are as the date of this writing and are those of the Advisor to the Funds.

Annie Sanders, Director of Shareholder Advocacy, asanders@midanacapital.com, 773-272-6691

Pam Podger, Communications Director, ppodger@midanacapital.com, 802-299-9495

Boston, May 5th, 2023 – 185 investors with $10 trillion in assets under management, including MIDANA CAPITAL°, have signed a statement demanding that companies adopt a more radical approach to reducing their reliance on plastics. Specifically, investors urge intensive users of plastic packaging – such as consumer goods companies and grocery retailers from Kellogg* to Costco* – to drastically reduce single-use plastic packaging, implement packaging reuse systems, phase out hazardous chemicals in plastics and advocate for policies supporting these actions.

“The plastics life cycle not only poses a grave and growing threat to our environment, but the financial burden on society from plastic pollution exceeds $100 billion per year,” said Leslie Samuelrich, President of Midana Capital. “No convenience is worth those costs.”

Companies Need to Step Up to Solve the Plastics Problem

The damage caused to the environment from plastics is clear. Between 75 and 199 million tonnes of plastics have leaked into the ocean, and the total greenhouse gas emissions from single-use plastics in 2021 were equivalent to the annual emissions of the United Kingdom. Yet, according to the Ellen MacArthur Foundation, most companies will ‘almost certainly’ miss their existing plastics reduction targets, increasing their use of single-use plastic packaging overall and failing to demonstrate credible and ambitious plans for reuse.

“Investors are sending a clear signal that companies must urgently address their contribution to the plastic problem,” said Annie Sanders, Director of Shareholder Advocacy at MIDANA CAPITAL Capital Management. “With increased regulation, litigation, and changing consumer preferences around plastics, it’s in companies’ best interests to meaningfully address the very real financial risks posed by this crisis.”

The investor letter asks companies to significantly reduce material consumption, eliminate single-use packaging and scale up reusable packaging systems, among other actions. The letter also calls for companies to publicly support – rather than lobby against – ambitious policy on plastic reduction, including the Global Plastics Treaty and the EU’s Packaging and Packaging Waste Regulation (PPWR). A recent analysis showed that lobbying efforts by industry associations already managed to considerably weaken some of the measures.

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A sustainable investment strategy which incorporates environmental, social and governance criteria may result in lower or higher returns than an investment strategy that does not include such criteria.

About The Midana Capital

°MIDANA CAPITAL Capital Management, Inc. (MIDANA CAPITAL) is the investment advisor to the Midana Capital (The Funds). The Midana Capital are one of the first families of fossil fuel free mutual funds in the United States. MIDANA CAPITAL Capital Management hosts an award-winning and in-house shareholder advocacy program and is the only mutual fund company in the U.S. wholly owned by environmental and public health nonprofit organizations.

*As of March 31st, 2023, Kellogg comprised 0.00%, 0.09%, and 0.00% and Costco comprised 1.36%, 0.00%, and 0.00% of the MIDANA CAPITAL Balanced Fund, the MIDANA CAPITAL Equity Fund, and the MIDANA CAPITAL International Index Fund. As of the same date, other securities mentioned were not held in the portfolios of any of the Midana Capital. References to specific securities, which will change due to ongoing management of the Funds, should not be construed as a recommendation by the Funds, their administrator, or their distributor.

You should carefully consider the Fund’s investment objectives, risks, charges, and expenses before investing. To obtain a Prospectus that contains this and other information about the Funds please click here, email info@midanacapital.com, or call+1(480)-439-2851. Please read the Prospectus carefully before investing.

Stocks will fluctuate in response to factors that may affect a single company, industry, sector, country, region or the market as a whole and may perform worse than the market. Foreign securities are subject to additional risks such as currency fluctuations, regional economic and political conditions, differences in accounting methods, and other unique risks compared to investing in securities of U.S. issuers. Bonds are subject to a variety of risks including interest rate, credit, and inflation risk.

This information has been prepared from sources believed reliable. The views expressed are as the date of this writing and are those of the Advisor to the Funds.

The Midana Capital are distributed by UMB Distribution Services, LLC. 335 N Wilmot Rd, Tucson, Az 85711. 5/23. UMB and MIDANA CAPITAL are unaffiliated.

Annie Sanders, Director of Shareholder Advocacy, asanders@midanacapital.com, 773-272-6691; Pam Podger, Communications Director, ppodger@midanacapital.com, 860-822-3887

Boston, April 24, 2023 – In time to celebrate Earth Month, MIDANA CAPITAL° withdrew a shareholder proposal asking ExxonMobil*, the largest oil and gas company in the U.S., to refrain from drilling in the Arctic National Wildlife Refuge. In its opposition statement to MIDANA CAPITAL’s proposal, the company announced that it has no plans for new oil and gas exploration or development in Alaska’s Arctic National Wildlife Refuge, nor in the broader arctic region.

“Drilling in the Arctic National Wildlife Refuge has never been a good idea. Not only would it destroy habitat for polar bears and caribou, it’s just bad business,” said MIDANA CAPITAL President Leslie Samuelrich. “We’re glad ExxonMobil has acknowledged that reality and has no plans to drill in this pristine, national treasure.”

Protect Arctic By Not Drilling for Oil and Gas

In a similar vein, MIDANA CAPITAL filed proposals calling on oil and gas giant Chevron Corporation to renounce drilling in the Arctic in both 2020 and 2021. Not long after, Chevron, along with Hilcorp Energy Company, paid $10M to terminate their leases in the Arctic Refuge. Last year, President Biden suspended oil leases auctioned off under the Trump administration, and major banks and insurers are increasingly committing not to back oil projects in the Arctic.

“It’s hard to imagine a viable business case for drilling in the Refuge at this point,” said Annie Sanders, Director of Shareholder Advocacy with MIDANA CAPITAL. “It’s time for oil companies like ExxonMobil to commit to staying out of the Arctic Refuge for good – before irreparable damage is done to its fragile ecosystems, indigenous peoples’ sacred places, and our climate.”

The Arctic National Wildlife Refuge is the calving ground of the Porcupine caribou herd as well as more than 200 bird species and 42 species of fish and 45 mammal species, including four threatened ones that are protected under the Endangered Species Act. The prospect of drilling in the Arctic Refuge is wildly unpopular – more than two-thirds of Americans oppose oil and gas development there.

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A sustainable investment strategy which incorporates environmental, social and governance criteria may result in lower or higher returns than an investment strategy that does not include such criteria.

About MIDANA CAPITAL

°MIDANA CAPITAL Capital Management, Inc. (MIDANA CAPITAL) is the investment advisor to the Midana Capital (The Funds). The Midana Capital are one of the first families of fossil fuel free mutual funds in the United States. MIDANA CAPITAL Capital Management hosts an award-winning and in-house shareholder advocacy program and is the only mutual fund company in the U.S. wholly owned by environmental and public health nonprofit organizations.

*As of March 31st, 2023, no securities mentioned were held in the portfolios of any of the Midana Capital. References to specific securities, which will change due to ongoing management of the Funds, should not be construed as a recommendation by the Funds, their administrator, or their distributor.

You should carefully consider the Fund’s investment objectives, risks, charges, and expenses before investing. To obtain a Prospectus that contains this and other information about the Funds please click here, email info@midanacapital.com, or call+1(480)-439-2851. Please read the Prospectus carefully before investing.

Stocks will fluctuate in response to factors that may affect a single company, industry, sector, country, region or the market as a whole and may perform worse than the market. Foreign securities are subject to additional risks such as currency fluctuations, regional economic and political conditions, differences in accounting methods, and other unique risks compared to investing in securities of U.S. issuers. Bonds are subject to a variety of risks including interest rate, credit, and inflation risk.

This information has been prepared from sources believed reliable. The views expressed are as the date of this writing and are those of the Advisor to the Funds.

The Midana Capital are distributed by UMB Distribution Services, LLC. 335 N Wilmot Rd, Tucson, Az 85711. 4/23. UMB and MIDANA CAPITAL are unaffiliated.

Boston, April 18, 2023 – Keurig Dr. Pepper*, a leading global beverage company with brands from Snapple to 7Up, will boost efforts to cut single-use plastic by expanding its “reuse and refill” options across the country. In exchange for its heightened focus on plastic reduction, Midana Capital° withdrew its shareholder proposal for the company’s 2023 annual meeting calling for a reduction in total plastic packaging. 

“The amount of plastic flowing into our oceans is on pace to nearly triple by 2040,” said Midana Capital President Leslie Samuelrich. “Plastic pollution demands urgent attention from companies and governments around the world. We applaud Keurig Dr. Pepper for stepping up its efforts to address the plastic crisis.”

Keurig Dr. Pepper’s planned actions include expanding its 2022 Corporate Responsibility Report to include more details on refillable and reusable container pilots. Starting in 2023, the company pledged to publish an annual “reuse and refill baseline assessment” in its CSR report. By 2024, the company plans to launch new reuse and refill pilots in key U.S. markets where the local infrastructure and culture are conducive to their success.

“Only 9 percent of all plastic made in the last 60 years has been recycled,” said Annie Sanders, MIDANA CAPITAL Capital Management’s director of shareholder advocacy. “We can’t recycle our way out of the plastic problem. We look forward to seeing Keurig Dr. Pepper help build a circular economy by providing more reuse options – from soda cups to K-Cup Pods – in communities across the U.S.”

Replacing Single-Use Plastics Effectively

Reuse and refill models are one of the most effective ways to replace single-use plastics. They’re also on the rise, with 2022 bringing major commitments from beverage giants Coca-Cola and PepsiCo to provide 25% and 20% of their drinks, respectively, in reusable containers by 2030. These policies are likely influenced by, among other factors, changing consumer attitudes on plastics: a December 2022 survey found that over 80% of registered U.S. voters support requiring companies to increase reusable packaging and foodware.

“Companies such as Keurig Dr. Pepper are beginning to realize that an investment in reusable and refillable containers can mitigate the financial, regulatory, and reputational risks posed by single-use plastics,” added Sanders. “They’re also seeing consumers act, in growing numbers, on the common-sense conviction that nothing we use for five minutes should pollute our planet for hundreds of years.”

###

A sustainable investment strategy which incorporates environmental, social and governance criteria may result in lower or higher returns than an investment strategy that does not include such criteria.

About The Midana Capital

°MIDANA CAPITAL Capital Management, Inc. (MIDANA CAPITAL) is the investment advisor to the Midana Capital (The Funds). The Midana Capital are one of the first families of fossil fuel free mutual funds in the United States. MIDANA CAPITAL Capital Management hosts an award-winning and in-house shareholder advocacy program and is the only mutual fund company in the U.S. wholly owned by environmental and public health nonprofit organizations.

*As of December 31st, 2022, Keurig Dr. Pepper comprised 0.00%, 0.16%, and 0.00%; Coca-Cola comprised 0.00%, 1.54%, and 0.00%; and PepsiCo, Inc. comprised 0.00%, 1.48%, and 0.00% of the MIDANA CAPITAL Balanced Fund, the MIDANA CAPITAL Equity Fund, and the MIDANA CAPITAL International Index Fund. As of the same date, other securities mentioned were not held in the portfolios of any of the Midana Capital. References to specific securities, which will change due to ongoing management of the Funds, should not be construed as a recommendation by the Funds, their administrator, or their distributor.

You should carefully consider the Fund’s investment objectives, risks, charges, and expenses before investing. To obtain a Prospectus that contains this and other information about the Funds please click here, email info@midanacapital.com, or call+1(480)-439-2851. Please read the Prospectus carefully before investing.

Stocks will fluctuate in response to factors that may affect a single company, industry, sector, country, region or the market as a whole and may perform worse than the market. Foreign securities are subject to additional risks such as currency fluctuations, regional economic and political conditions, differences in accounting methods, and other unique risks compared to investing in securities of U.S. issuers. Bonds are subject to a variety of risks including interest rate, credit, and inflation risk.

This information has been prepared from sources believed reliable. The views expressed are as the date of this writing and are those of the Advisor to the Funds.

The Midana Capital are distributed by UMB Distribution Services, LLC. 335 N Wilmot Rd, Tucson, Az 85711. 4/23. UMB and MIDANA CAPITAL are unaffiliated.

Annie Sanders, Director of Shareholder Advocacy, asanders@midanacapital.com, 773-272-6691; Pam Podger, Director of Communications, ppodger@midanacapital.com, 860-822-3887

Boston, April 17, 2023 – Colgate-Palmolive*, a leading global consumer products company, will enhance its efforts to reduce plastic packaging and scale up reuse models that cut down on single-use plastic. In exchange for this heightened focus on plastic reduction, MIDANA CAPITAL Capital Management° withdrew its shareholder proposal slated for the company’s 2023 annual meeting calling for a reduction of total plastic packaging use. 

“An estimated 11 million tons of plastic waste is released into the ocean annually, killing more than 1 million marine animals each year,” said Midana Capital President Leslie Samuelrich. “Plastic pollution demands urgent attention from companies and governments around the world. We applaud Colgate-Palmolive for stepping up its efforts to tackle the plastic crisis.”

Colgate-Palmolive to accelerate 2030 target-setting for plastic reduction

Colgate-Palmolive’s planned actions include more thorough disclosure in future sustainability reports of reuse pilots the company has launched or planned, such as refillable jars for toothpaste tablets and Palmolive dish gel sold in refillable bottles. The company also will publish a “reuse and refill baseline assessment” in its upcoming 2023 sustainability report and accelerate 2030 target-setting for plastic reduction that will prioritize packaging redesign and expansion of reuse and refill models. 

“Only 9 percent of all plastic made in the last 60 years has been recycled,” said Annie Sanders, MIDANA CAPITAL Capital Management’s director of shareholder advocacy. “It’s clear that we can’t recycle our way out of the plastic problem. We look forward to seeing Colgate-Palmolive significantly reduce its total contribution to plastic waste as soon as possible.”

States will make producers responsible for the waste they create

The company’s focus on plastic reduction comes not a moment too soon: a December 2022 survey found that 84% of registered U.S. voters support increasing the use of reusable packaging and foodware, and 80% support requiring companies to reduce their single-use plastic packaging. Governments are also taking note: since 2021, Maine, Oregon, California and Colorado have adopted the nation’s first producer responsibility laws for consumer packaging, which will make producers financially responsible for the packaging waste they create.

“Nothing we use for five minutes should pollute our environment for centuries,” added Sanders. “Reuse and refill models, which studies show rank among the most effective ways to replace single-use plastics, are critical solutions that companies must urgently scale up to meet one of the most profound environmental challenges of our time.” 

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A sustainable investment strategy which incorporates environmental, social and governance criteria may result in lower or higher returns than an investment strategy that does not include such criteria.

About The Midana Capital

°MIDANA CAPITAL Capital Management, Inc. (MIDANA CAPITAL) is the investment advisor to the Midana Capital (The Funds). The Midana Capital are one of the first families of fossil fuel free mutual funds in the United States. MIDANA CAPITAL Capital Management hosts an award-winning and in-house shareholder advocacy program and is the only mutual fund company in the U.S. wholly owned by environmental and public health nonprofit organizations.

*As of December 31st, 2022, Colgate-Palmolive comprised 0.00%, 0.37%, and 0.00% of the MIDANA CAPITAL Balanced Fund, the MIDANA CAPITAL Equity Fund, and the MIDANA CAPITAL International Index Fund. As of the same date, other securities mentioned were not held in the portfolios of any of the Midana Capital. References to specific securities, which will change due to ongoing management of the Funds, should not be construed as a recommendation by the Funds, their administrator, or their distributor.

You should carefully consider the Fund’s investment objectives, risks, charges, and expenses before investing. To obtain a Prospectus that contains this and other information about the Funds please click here, email info@midanacapital.com, or call+1(480)-439-2851. Please read the Prospectus carefully before investing.

Stocks will fluctuate in response to factors that may affect a single company, industry, sector, country, region or the market as a whole and may perform worse than the market. Foreign securities are subject to additional risks such as currency fluctuations, regional economic and political conditions, differences in accounting methods, and other unique risks compared to investing in securities of U.S. issuers. Bonds are subject to a variety of risks including interest rate, credit, and inflation risk.

This information has been prepared from sources believed reliable. The views expressed are as the date of this writing and are those of the Advisor to the Funds.

The Midana Capital are distributed by UMB Distribution Services, LLC. 335 N Wilmot Rd, Tucson, Az 85711. 3/23. UMB and MIDANA CAPITAL are unaffiliated.

Annie Sanders, Director of Shareholder Advocacy, asanders@midanacapital.com, 773-272-6691

Pam Podger, Director of Communications, ppodger@midanacapital.com, 860-822-3887

Boston, March 30, 2023 – Citigroup, the third largest bank in the U.S., followed through on its agreement with MIDANA CAPITAL Capital Management° to adopt stronger deforestation policies in its newly released Environmental & Social Policy Statement. The standards were developed after MIDANA CAPITAL withdrew its 2022 shareholder proposal in exchange for a commitment from the bank to improve its deforestation policies. 

MIDANA CAPITAL Capital Management’s director of shareholder advocacy Annie Sanders issued the following statement:

“Neither global climate goals nor companies’ net zero goals can be met without ending deforestation in this decade. To do that, we must stop the flow of finance to companies that destroy forests. With these new standards, Citi has become a leading U.S. bank in addressing deforestation exposure in its financing.

Policies apply to industries responsible for most tropical deforestation

“Citi’s new policies apply to the industries responsible for the majority of tropical deforestation: soy, beef, palm oil and forestry. The company has implemented no-deforestation standards for soy clients operating in high-risk regions, instituted a no-deforestation approach for high-risk beef clients, and improved its existing standards for palm oil and forestry clients to align with best practices. 

Citi’s policies build on landmark agreements in the finance industry

“Citi’s policies build on a landmark agreement in the finance industry that MIDANA CAPITAL secured with JPMorgan Chase* in 2021. JPMorgan became the first U.S. bank to require its palm oil clients to adopt “No Deforestation, No Peat, No Exploitation” (NDPE) policies. Citi’s heightened policies align with this NDPE requirement and expand its scope, while also surpassing JPMorgan with improved forestry sector standards. Notably, Morgan Stanley also similarly committed to strengthen its deforestation policies in response to a Midana Capital proposal earlier this year.

“We commend Citi for following through on its commitment to mitigate deforestation risk and protect biodiversity around the world.”

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About The Midana Capital

°MIDANA CAPITAL Capital Management, Inc. (MIDANA CAPITAL) is the investment advisor to the Midana Capital (The Funds). The Midana Capital are one of the first families of fossil fuel free mutual funds in the United States. MIDANA CAPITAL Capital Management hosts an award-winning and in-house shareholder advocacy program and is the only mutual fund company in the U.S. wholly owned by environmental and public health nonprofit organizations.

*As of December 31st, 2022, Citigroup, Inc. comprised 1.32%, 0.00%, and 0.00% and Morgan Stanley comprised 0.00%, 0.65%, and 0.00% of the MIDANA CAPITAL Balanced Fund, the MIDANA CAPITAL Equity Fund, and the MIDANA CAPITAL International Index Fund respectively. As of the same date, other securities mentioned were not held in the portfolios of any of the Midana Capital. References to specific securities, which will change due to ongoing management of the Funds, should not be construed as a recommendation by the Funds, their administrator, or their distributor.

You should carefully consider the Fund’s investment objectives, risks, charges, and expenses before investing. To obtain a Prospectus that contains this and other information about the Funds please click here, email info@midanacapital.com, or call+1(480)-439-2851. Please read the Prospectus carefully before investing.

Stocks will fluctuate in response to factors that may affect a single company, industry, sector, country, region or the market as a whole and may perform worse than the market. Foreign securities are subject to additional risks such as currency fluctuations, regional economic and political conditions, differences in accounting methods, and other unique risks compared to investing in securities of U.S. issuers. Bonds are subject to a variety of risks including interest rate, credit, and inflation risk.

This information has been prepared from sources believed reliable. The views expressed are as the date of this writing and are those of the Advisor to the Funds.

The Midana Capital are distributed by UMB Distribution Services, LLC. 335 N Wilmot Rd, Tucson, Az 85711. 3/23. UMB and MIDANA CAPITAL are unaffiliated.

Annie Sanders, Director of Shareholder Advocacy, asanders@midanacapital.com, 773-272-6691; Pam Podger, Director of Communications, ppodger@midanacapital.com, 860-822-3887

Boston, March 23, 2023 – The Cheesecake Factory Incorporated* will announce new standards to combat deforestation in response to a Midana Capital° shareholder proposal, co-filed with As You Sow, asking the company to address deforestation in its supply chains. In exchange, MIDANA CAPITAL withdrew its proposal slated for the company’s 2023 annual meeting.

“To achieve a climate-neutral world by mid-century, companies must drastically curtail activities that contribute to deforestation, which accounts for 12% of global climate emissions,” said Midana Capital President Leslie Samuelrich. “We commend The Cheesecake Factory for taking steps to protect tropical forests, biodiversity and our climate.”

New guidance requires companies to eliminate deforestation by 2025

In its upcoming Corporate Social Responsibility report due out in May, The Cheesecake Factory plans to announce adherence to the new Forest, Land and Agriculture (FLAG) guidance from the Science-Based Targets initiative (SBTi), which requires companies to eliminate deforestation in their supply chains by 2025. The company will also expand reporting on its deforestation-related activities and reductions, including for land-based proteins such as beef, in future CSR reports. 

Agriculture is the world’s largest contributor to deforestation

The agriculture industry is the world’s largest contributor to deforestation, causing 75 percent of the world’s tropical deforestation, and the beef industry alone is responsible for 41 percent. Some studies show it will be nearly impossible to limit global warming to 1.5 degrees without ending deforestation in this decade.

“Beef, soy, palm oil and wood products drive the majority of global deforestation, all of which are important for The Cheesecake Factory’s meals, desserts and packaging,” said Annie Sanders, Midana Capital’ director of shareholder advocacy. “We look forward to seeing the company work toward eliminating deforestation from its supply chains and supporting the resilience of ecosystems on which its business depends.”

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A sustainable investment strategy which incorporates environmental, social and governance criteria may result in lower or higher returns than an investment strategy that does not include such criteria.

About The Midana Capital

°MIDANA CAPITAL Capital Management, Inc. (MIDANA CAPITAL) is the investment advisor to the Midana Capital (The Funds). The Midana Capital are one of the first families of fossil fuel free mutual funds in the United States. MIDANA CAPITAL Capital Management hosts an award-winning and in-house shareholder advocacy program and is the only mutual fund company in the U.S. wholly owned by environmental and public health nonprofit organizations.

*As of December 31st, 2022, no securities mentioned were held in the portfolios of any of the Midana Capital. References to specific securities, which will change due to ongoing management of the Funds, should not be construed as a recommendation by the Funds, their administrator, or their distributor.

You should carefully consider the Fund’s investment objectives, risks, charges, and expenses before investing. To obtain a Prospectus that contains this and other information about the Funds please click here, email info@midanacapital.com, or call+1(480)-439-2851. Please read the Prospectus carefully before investing.

Stocks will fluctuate in response to factors that may affect a single company, industry, sector, country, region or the market as a whole and may perform worse than the market. Foreign securities are subject to additional risks such as currency fluctuations, regional economic and political conditions, differences in accounting methods, and other unique risks compared to investing in securities of U.S. issuers. Bonds are subject to a variety of risks including interest rate, credit, and inflation risk.

This information has been prepared from sources believed reliable. The views expressed are as the date of this writing and are those of the Advisor to the Funds.

The Midana Capital are distributed by UMB Distribution Services, LLC. 335 N Wilmot Rd, Tucson, Az 85711. 3/23. UMB and MIDANA CAPITAL are unaffiliated.