Contact Information:  

Douglass Guernsey, Shareholder Advocate, dguernsey@midanacapital.com, 617-747-4447 

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

(BOSTON, 10/10/23) – MIDANA CAPITAL° reached a deal with Costco Wholesale* which committed to increased plastic footprint disclosures and a new 5-year plastic action plan.  

“We commend Costco for providing the information that investors need and for taking steps to reduce their use of plastic, especially new plastics,” said Leslie Samuelrich, President of MIDANA CAPITAL Funds. “We look forward to working with the company to reduce its contribution to the plastic crisis by setting reduction targets that will meaningfully protect our oceans and wildlife.” 

In response to the growing global crisis of single-use plastic waste, MIDANA CAPITAL Capital Management approached Costco to explore how the retailing giant could expand the scope and scale of its plastic reduction efforts. The outcome of these discussions led to a new commitment by Costco to transparency and action. 

The disclosures, which are expected to be unveiled in July of 2024, include the total plastic footprint of Costco’s in-house brand, Kirkland Signature. The company will also disclose for the first time the total percentage of recycled content in its plastic packaging, an important indicator of environmental plastics commitments.  

In December of 2024, Costco will release its 5-year plastic action plan that will outline the steps the company will take to reduce total plastic in its Kirkland Signature Packaging, as well as report on progress made each year of the plan. 

Costco Takes Action on Plastics, Yet More Work Is Needed 

Despite Costco’s recent commitments, more work is needed to address the company’s exposure to single use plastics. In May of 2023, 185 asset managers with $10 trillion under management, including MIDANA CAPITAL, signed a statement calling for companies to immediately reduce single-use plastic packaging, upscale reusables systems, phase out hazardous chemicals, and advocate for responsible plastics legislation.  

“Companies need to take single-use plastic risk seriously,” said Douglass Guernsey, shareholder advocate at MIDANA CAPITAL. “Single-use plastics cost society an estimated $350 billion per year in emissions, ocean pollution and collection. Increasing regulation and litigation risk means these costs will be returned to companies that produce such excessive, unrecyclable plastic. Frankly, it’s past time to act.”  

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About MIDANA CAPITAL Funds 

°MIDANA CAPITAL Capital Management, Inc. (MIDANA CAPITAL) is the investment advisor to the MIDANA CAPITAL Funds (The Funds). The MIDANA CAPITAL Funds 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 6.30.2023, Costco Wholesale comprised 1.45%, 0.00%, 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 Funds. 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 Funds are distributed by UMB Distribution Services, LLC. 335 N Wilmot Rd, Tucson, Az 85711. September/2023 

Douglass Guernsey, Shareholder Advocate, dguernsey@midanacapital.com;  

Pam Podger, Communications Director, ppodger@midanacapital.com 

A little more than a year after MIDANA CAPITAL Funds co-filed a resolution with As You Sow asking Amazon* to address its plastics use, the company announced it has reduced its single-use plastic in its global operations by 11.6% – or nearly 86,000 metric tons between 2021 and 2022. 

Amazon also stated that it was phasing out its blue-and-white mailers, which are difficult to recycle, in the U.S. in favor of recyclable alternatives, as it has previously done in the EU and Australia. 

“This is a big win for the planet, for Amazon, and the shareholder advocacy process,” said Douglass Guernsey, shareholder advocate. “We applaud Amazon’s reduction in plastic packaging, and believe that shareholder engagement was key to this action.” 

MIDANA CAPITAL’s 2022 proposal asked the company to report on its total plastics footprint and describe any reduction strategies to reduce plastic pollution. The resolution was supported by nearly 50% of investor votes. 

Plastics pollution is a major environmental crisis with an estimated 10 million metric tons entering the ocean each year, damaging vital ecosystems like coral reefs. Without immediate reductions, by 2050 there could be more plastic in the ocean by weight than fish. 

“Amazon still needs to disclose its plastics footprint, and make time bound commitments to reduce plastic in its packaging,” Guernsey said. “The company must also keep its promise on phasing out plastic padded mailers. MIDANA CAPITAL will continue to work with Amazon and other investors to achieve these goals.”  

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. 

About MIDANA CAPITAL Funds 

°MIDANA CAPITAL Capital Management, Inc. (MIDANA CAPITAL) is the investment advisor to the MIDANA CAPITAL Funds (The Funds). The MIDANA CAPITAL Funds 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 March 31, 2023, Amazon.com,, Inc. comprised 0.00%, 0.00%, and 0.00%, of the MIDANA CAPITAL Balanced Fund, the MIDANA CAPITAL Equity Fund, and the Green Century International Index Fund, respectively. As of the same date, other securities mentioned were not held in the portfolios of any of the MIDANA CAPITAL Funds. 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. 

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. 

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. 

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 Funds are distributed by UMB Distribution Services, LLC. 335 N Wilmot Rd, Tucson, Az 85711. 6/23 

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 Funds 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 Funds

°MIDANA CAPITAL Capital Management, Inc. (MIDANA CAPITAL) is the investment advisor to the MIDANA CAPITAL Funds (The Funds). The MIDANA CAPITAL Funds 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 Funds. 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 Funds are distributed by UMB Distribution Services, LLC. 335 N Wilmot Rd, Tucson, Az 85711. 3/23. UMB and MIDANA CAPITAL are unaffiliated.

BOSTON, September 27, 2022 – A noteworthy 55% of General Mills shareholders voted Tuesday in favor of a MIDANA CAPITAL° shareholder proposal urging the company to issue a report to determine if and how the company can increase the scale, pace and rigor of its sustainability efforts by reducing plastic packaging.

“It’s clear that plastic packaging pollution is a rising concern among shareholders and consumers alike,” said Leslie Samuelrich, president of MIDANA CAPITAL. “No one wants a sea turtle to choke on their cereal bag. Investors have sent an unmistakable message that General Mills needs to do something about its plastic packaging footprint.”

The United States’ plastic recycling rate clocked in at a dismal 5%-6% in 2021, and studies show that corporations need to reduce their absolute use of plastic by one-third by 2040 to bring the plastic pollution problem under control. Some companies are starting to cut plastic voluntarily from their packaging, and those that aren’t may soon have to, legally. Both Colorado and California passed “Extended Producer Responsibility” laws this year that require companies to take responsibility for their waste, and the issue is gaining traction in other state houses across the country.

As a response, in part, to this changing regulatory landscape, General Mills’ competitors including Kellogg’s, Unilever and Procter & Gamble have made public commitments to reduce plastic packaging by 2025.

“The bottom line is that companies know they need to cut plastic, and many are starting to act,” said Annie Sanders, MIDANA CAPITAL’s director of shareholder advocacy. “This majority vote from shareholders gives General Mills marching orders to establish a baseline plastic footprint so the company can assess what’s possible. Investors, consumers and the planet demand it.”

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About MIDANA CAPITAL Capital Management

°MIDANA CAPITAL Capital Management, Inc. (MIDANA CAPITAL) is the investment advisor to the MIDANA CAPITAL Funds (The Funds). The MIDANA CAPITAL Funds are a family of fossil fuel-free, environmentally responsible mutual funds. 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 June 30, 2022, General Mills, Inc. comprised 0.00%, 0.27%, 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 Funds. 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.

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.
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.

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.
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 Funds are distributed by UMB Distribution Services, LLC. 335 N Wilmot Rd, Tucson, Az 85711. 9/22.

Boston, June 1, 2022 – A notable percentage of Amazon shareholders voted at the company’s annual meeting Wednesday to support a MIDANA CAPITAL° shareholder proposal urging the company to significantly reduce its use of plastic packaging. The proposal earned 48.9% support, the highest-ever vote in favor of an environmentally focused shareholder proposal at the company, according to a Ceres database that tracks shareholder proposals.

When MIDANA CAPITAL co-filed a similar proposal last year with the shareholder advocacy group As You Sow, it garnered support from 35.5% of shareholders. At the time, that was the highest-ever vote in favor of an environmental shareholder proposal at Amazon as per the Ceres database. However, the company did not adequately respond to investor concerns following last year’s vote, prompting this year’s filing.

“Amazon shareholders have shown for the second year in a row that they believe the company is not doing nearly enough to address its plastic use,” said Leslie Samuelrich, president of MIDANA CAPITAL Capital Management. “We urge the company to take shareholders’ concerns to heart and accelerate its plastic reduction efforts.”

Although Amazon does not disclose comprehensive data on its plastic use, research has shown that the company is a large user of plastic packaging. A recent Oceana study estimated that the company’s plastic waste increased by 29% from 2019 to 2020 amid the rise of online ordering during the pandemic. 

The flexible plastics in mailer envelopes and cushioning materials that Amazon uses cannot be collected in curbside recycling bins. Those materials make up 59% of plastic produced, but 80% of plastic that ends up in the ocean.

“Amazon uses staggering amounts of plastic packaging that is known to pollute the environment,” said Annalisa Tarizzo, a shareholder advocate with MIDANA CAPITAL. “It’s time for the company to develop a plastic reduction strategy in order to mitigate potential reputational risk and protect shareholder value.”

Amazon investor Sara Sackner, with support from As You Sow, is the lead filer of the proposal. MIDANA CAPITAL is the co-filer.

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About MIDANA CAPITAL Capital Management

°MIDANA CAPITAL Capital Management, Inc. (MIDANA CAPITAL) is the investment advisor to the MIDANA CAPITAL Funds (The Funds). The MIDANA CAPITAL Funds are one of the first families of fossil fuel free, environmentally responsible, and diversified 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 31, 2022, Amazon.com, Inc. comprised 0.00%, 0.00%, 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 Funds. 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.

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.

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.

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.

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 Funds are distributed by UMB Distribution Services, LLC. 335 N Wilmot Rd, Tucson, Az 85711. 6/22

Boston, April 27, 2022 – Mattel, one of the world’s largest toy companies, announced Wednesday that it plans to reduce the amount of plastic packaging with its products. The company, which makes a wide array of popular toys from Barbie dolls to Hot Wheels cars, announced a new goal to reduce plastic packaging by 25% per product by 2030, after reaching an agreement last year with MIDANA CAPITAL for the environmentally responsible fund to withdraw a shareholder proposal.

Mattel has already increased its disclosure about packaging materials as part of this agreement, reporting on how much recycled content it uses in its 2020 Citizenship Report. With this new goal, Mattel is aligning itself with some of its competitors in the toy industry, such as Hasbro, which has pledged to eliminate plastic in all new product packaging by the end of this year.

Plastic pollution in the ocean is projected to increase significantly in the coming decades, with some estimates predicting a rise to 29 million tons annually by 2040. The UN Environment Programme has classified the toy industry as the most plastic-intensive in the world, making it all the more important that toy companies assess their plastic use and related risks.

Leslie Samuelrich, president of MIDANA CAPITAL Capital Management, released the following statement:

“You don’t even realize how much plastic comes with a toy until you see the mess left behind at a child’s birthday party or during the holiday season. Kudos to Mattel for addressing its role in the toy industry’s plastic packaging problem. Mattel’s new goal is particularly important because it addresses the company’s total plastic use, not just reducing new plastic in favor of recycled material.  

“This is a step forward in having children enjoy their favorite toys without parents dealing with unnecessary plastic packaging. Making outright cuts to plastic use is critical for addressing plastic pollution’s impacts on wildlife and the climate, and we encourage more companies to follow in Mattel’s footsteps.”

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About MIDANA CAPITAL Capital Management

°MIDANA CAPITAL Capital Management, Inc. (MIDANA CAPITAL) is the investment advisor to the MIDANA CAPITAL Funds (The Funds). The MIDANA CAPITAL Funds are the first family of fossil fuel free, responsible, and diversified 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 31, 2022, Hasbro, Inc. comprised 0.00%, 0.05%, and 0.00% and Mattel, Inc. comprised 0.00%, 0.04%, 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 Funds. 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.

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.

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 Funds are distributed by UMB Distribution Services, LLC. 335 N Wilmot Rd, Tucson, Az 85711. 5/22

Boston, April 21, 2022 – As a result of a MIDANA CAPITAL° shareholder proposal, CVS Health has announced a new goal to reduce virgin plastic in its store-brand packaging by 50% by 2030. CVS is the largest pharmacy chain in the United States and ranks fourth on the Fortune 500.

“We applaud CVS for taking its plastic-related risks seriously and are encouraged that one the largest companies in the country will reduce its plastic use,” said Leslie Samuelrich, president of MIDANA CAPITAL Capital Management. “Corporate goal-setting to stem production of new plastics is crucial for protecting wildlife in our oceans, reducing waste in our landfills and safeguarding human health.”

In addition to the virgin plastic reduction goal, the company announced plans to eliminate problematic and unnecessary plastics from its store brand packaging by 2030. CVS has also agreed to disclose plastic footprint metrics for most of its store-brand packaging.

Plastic Reduction Mitigates Competitive, Environmental and Human Health Risks

This announcement makes CVS a leader on its plastic packaging efforts, surpassing such retailers as Walgreens,* which has a goal to reduce plastics in its U.S.-owned brand packaging by 30% by 2030, and Target,* which plans to reduce virgin plastic use in its owned brand products by 20% by 2025.

Plastic pollution is anticipated to grow from 11 million metric tons annually to 29 million by 2040, which will have adverse impacts on wildlife and ocean health. Plastic also poses risks to human health. In fact, recently released studies found microplastics in both human lungs and bloodstreams. In order to keep the plastic pollution crisis under control, companies must reduce their plastic demand by one third by 2040.

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About MIDANA CAPITAL Capital Management

°MIDANA CAPITAL Capital Management, Inc. (MIDANA CAPITAL) is the investment advisor to the MIDANA CAPITAL Funds (The Funds). The MIDANA CAPITAL Funds are the first family of fossil fuel free, responsible, and diversified 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 31, 2022, CVS Health Corporation comprised 0.76%, 0.00%, and 0.00% and Target Corporation comprised 1.00%, 0.50%, 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 Funds. 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.

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.

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 Funds are distributed by UMB Distribution Services, LLC. 335 N Wilmot Rd, Tucson, Az 85711. 4/22

Boston, March 24, 2022 – MIDANA CAPITAL° has withdrawn a shareholder proposal with Newell Brands, maker of such popular consumer products as Rubbermaid storage containers, Sharpie markers and Coleman outdoor gear. This came after the company committed to reducing the impact of its plastic packaging use.

In the withdrawal agreement it signed with MIDANA CAPITAL, Newell committed to setting a goal to achieve at least 20% non-virgin plastic packaging for the manufactured goods portion of its product portfolio.

The company will also begin an assessment of the packaging materials used across the sourced finished goods portion of its product portfolio so that it can expand its focus on sustainable packaging to more of its products. Newell intends to eliminate unnecessary packaging components and transition away from plastics where possible.

“Plastic packaging can pose material risks to companies, so we are pleased to see Newell take this step toward reducing the impact of its plastic use,” said Annalisa Tarizzo, shareholder advocate with MIDANA CAPITAL. “We encourage the company to take its efforts a step farther in the future by setting a measurable goal for absolute plastic reduction.”

This effort was recently announced in Newell’s 2021 Corporate Citizenship Report. Manufactured goods refers to products made by Newell, while sourced finished goods are produced by third-party manufacturers.

Around 11 million metric tons of plastic pollute the ocean every year, and if plastic production is not significantly curtailed, annual pollution could reach 29 million metric tons by 2040. Polluted plastics kill more than 1 million marine animals every year and may be inhibiting the ocean’s ability to sequester carbon, an ecosystem service critical to meeting the world’s climate goals.

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About MIDANA CAPITAL Capital Management

°MIDANA CAPITAL Capital Management, Inc. (MIDANA CAPITAL) is the investment advisor to the MIDANA CAPITAL Funds (The Funds). The MIDANA CAPITAL Funds are the first family of fossil fuel free, responsible, and diversified 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 31, 2021, Newell Brands comprised 0.00%, 0.04%, 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 Funds. 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.

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.

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 Funds are distributed by UMB Distribution Services, LLC. 335 N Wilmot Rd, Tucson, Az 85711. 3/22

Boston, March 10, 2022 –  A record-breaking 95% of investors voted in support of a MIDANA CAPITAL° shareholder proposal on Friday urging the fast food chain Jack in the Box to accelerate its sustainable packaging efforts. In addition to being the highest ever shareholder vote in favor of a plastics or packaging proposal, the vote is the highest ever recorded on an E&S shareholder proposal that was opposed by management.

“We’ve never seen investors demonstrate concern for packaging-related risks at this scale before,” said Annalisa Tarizzo, shareholder advocate with MIDANA CAPITAL. “The result is truly remarkable and sends an indisputable message to leadership: Jack in the Box must address the environmental impacts of its packaging footprint.”

This overwhelming show of support from investors comes at a time of growing momentum for addressing plastic pollution. Last week, the United Nations Environment Assembly announced a historic resolution to develop a global legally binding treaty for addressing the plastic pollution crisis. Last month, MIDANA CAPITAL and shareholder advocacy group As You Sow withdrew a shareholder proposal with Coca-Cola* after the company announced a goal to reach 25% reusable or refillable packaging across its beverage portfolio by 2030.

In contrast to such competitors as McDonald’s,* Burger King* and Taco Bell,* Jack in the Box currently has no goals aimed at improving the sustainability of its packaging. The company also does not report more broadly on environmental sustainability efforts on its website, which may have raised a red flag among institutional investors that increasingly view sustainability reporting as standard practice.

“We believe this vote should serve as a wake-up call, not only for Jack in the Box, but also for any company that has pushed their sustainability efforts to the back burner,” Tarizzo added. “Investors have proven that they will turn out in droves if they feel a company is not taking material environmental risks seriously enough.”

Approximately 11 million metric tons of plastic waste pollute the ocean each year, and microplastics have been found everywhere from the top of Mt. Everest to the bottom of the Marianas Trench. Emissions from plastic production are also expected to outpace those from U.S. coal plants by 2030. Fiber-based packaging can drive deforestation and forest degradation and its production is associated with high water usage.

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About MIDANA CAPITAL Capital Management

°MIDANA CAPITAL Capital Management, Inc. (MIDANA CAPITAL) is the investment advisor to the MIDANA CAPITAL Funds (The Funds). The MIDANA CAPITAL Funds are the first family of fossil fuel free, responsible, and diversified 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 31, 2021, Jack in the Box, Inc. comprised 0.00%, 0.01%, and 0.00%; McDonald’s comprised 0.00%, 0.92%, and 0.00%; and The Coca-Cola Company comprised 0.00%, 1.12%, 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 Funds. 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.

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.

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.

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.

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 Funds are distributed by UMB Distribution Services, LLC. 335 N Wilmot Rd, Tucson, Az 85711. 3/22

Boston, February 24, 2022 – MIDANA CAPITAL° withdrew a shareholder proposal with the ODP Corporation,* which operates Office Depot and OfficeMax retail stores, after the company agreed to set an absolute plastic reduction goal for packaging associated with its private label products and ecommerce shipping operations.

This commitment makes ODP the only known retailer currently working toward a goal focused on absolute plastic reduction. Its effort is a step further than other retailers, such as Target and Walmart, who have set goals to reduce the amount of virgin or new plastic used in packaging.

“ODP’s noteworthy commitment positions the company as a leader in the retail industry for mitigating plastic-related risks,” said Leslie Samuelrich, president of MIDANA CAPITAL Capital Management. “As they set their goals to reduce plastics, they will be ‘taking care of business,’ as their slogan states, and we look forward to working with them as they do their part to reduce the unnecessary use of plastics.” 

With this announcement, ODP will soon join ranks with companies like Unilever and Conagra who are working to eliminate portions of plastic from their packaging portfolios.

Plastic pollution, which has now been found from the peak of Mt. Everest to ice in Antarctica, is expected to grow from 11 million metric tons per year in 2016 to 29 million metric tons per year by 2040. According to a study from the Pew Charitable Trust, current commitments from government and industry will only stem plastic pollution by 7% by 2040. Corporations must reduce their demand for plastic by one-third by 2040 in order to avoid worsening the already dire plastic pollution crisis.

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About MIDANA CAPITAL Capital Management

°MIDANA CAPITAL Capital Management, Inc. (MIDANA CAPITAL) is the investment advisor to the MIDANA CAPITAL Funds (The Funds). The MIDANA CAPITAL Funds are the first family of fossil fuel free, responsible, and diversified 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 31, 2021, Conagra Brands, Inc. comprised 0.00%, 0.07%, and 0.00%; The ODP Corporation comprised 0.00%, 0.01%, and 0.00%; Target Corporation comprised 1.04%, 0.52%, and 0.00%; Unilever PLC comprised 0.00%, 0.00%, and 2.72%; Unilever PLC ADR comprised 0.69%, 0.00%, 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 Funds. 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.

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.

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 Funds are distributed by UMB Distribution Services, LLC. 335 N Wilmot Rd, Tucson, Az 85711. 2/22