Category: Canada

Pet Valu Holdings Ltd. Announces Closing of C$150 Million Secondary Bought Deal Offering


Pet Valu Holdings Ltd. Announces Closing of C$150 Million Secondary Bought Deal Offering – Toronto Stock Exchange News Today – EIN Presswire




















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NexGold Infill Drilling Intersects New Zones of Gold Mineralization at the Goldboro Gold Project


NexGold Infill Drilling Intersects New Zones of Gold Mineralization at the Goldboro Gold Project – Toronto Stock Exchange News Today – EIN Presswire


















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Strathcona Resources makes stock-and-cash takeover offer for MEG Energy

CALGARY — Strathcona Resources Ltd. is making a takeover stock-and-cash offer for oilsands producer MEG Energy Corp. that values the company at about $5.9 billion.

The offer comes after Strathcona, which already owns about a 9.2 per cent stake in MEG, says it sent a takeover offer to the MEG board of directors in April, but was rejected earlier this week.

“Strathcona respects the MEG board’s right to dismiss any offer made for MEG, and it has no reason to believe that its decision to dismiss Strathcona’s proposal was not made in good faith,” the company said in a news release.

“However, Strathcona believes the benefits of a combination of Strathcona and MEG are significant enough that MEG Shareholders should have the opportunity to decide for themselves.”

It is offering 0.62 of a Strathcona share and $4.10 in cash per MEG share in the proposal worth $23.27 per MEG share based on the closing price of its shares on Thursday.

MEG shares closed at $21.30 on the Toronto Stock Exchange on Thursday.

Strathcona said it is ready to engage with the MEG board and would also support a strategic alternatives process to determine if a superior transaction is available.

“Strathcona would be willing to participate constructively and in good faith in such a process, including signing a mutual confidentiality agreement to share non-public information, provided it is not required to sign a standstill agreement,” the company said.

Strathcona said a combination with MEG would create Canada’s fifth largest oil producer and fourth largest steam-assisted gravity drainage producer, with among the largest proved oil reserves in North America.

It said it has identified $175 million in annual synergy opportunities, including $50 million in overhead reduction costs, if the deal goes ahead.

On Wednesday, Strathcona announced a series of three agreements to sell its assets in the Montney region valued at a total of $2.84 billion in a move that will make it a pure-play heavy oil company.

It also said it has bought the Hardisty crude-by-rail rail terminal in Alberta for about $45 million.

This report by The Canadian Press was first published May 16, 2025.

Companies in this story: (TSX:SCR, TSX:MEG)

The Canadian Press

Gamehost Announces AGM Voting Results

Article content

Calgary, Alberta–(Newsfile Corp. – May 15, 2025) – Gamehost Inc.’s (TSX: GH) (“Gamehost” or the “Corporation“) announced that all of the motions put forward at its annual general meeting of shareholders held on May 13, 2025 were approved by the shareholders. The detailed results of the voting are as follows:

Motions Votes For
Number(1) %(2)
To fix the number of directors to be elected and appointed at the Meeting at not more than 6. 13,835,340 99.95
To elect the following persons as directors of the Company for the ensuing year.
David Will 13,163,045 95.47
Darcy Will 13,784,088 99.98
James McPherson 13,687,023 99.27
Timothy Sebastian 13,136,785 95.28
Jerry Van Someren 13,753,113 99.75
Peter Miles 13,753,113 99.75
To appoint Pivotal LLP, Chartered Accountants as auditors of the Company for the ensuing year and to authorize the directors of the Company to fix the remuneration of such auditors. 13,838,012 99.97

Article content

Notes:

1. Indicates shares held or represented by proxy with instructions to vote for the motion.
2. Indicates the percentage of the total number of shares represented in person or by proxy at the meeting.

About Gamehost

Gamehost is corporation established under the laws of the Province of Alberta. Gamehost’s operations are all located in the Province of Alberta, Canada. Gamehost’s operations include the Rivers Casino & Entertainment Centre in Ft. McMurray, the Great Northern Casino, Service Plus Inns & Suites hotel, Encore Suites hotel and a strip mall all located in Grande Prairie, and the Deerfoot Inn & Casino in Calgary.

Gamehost’s common shares trade on the Toronto Stock Exchange (TSX) under the symbol GH. For more information, visit www.gamehost.ca. Complete disclosure of the Corporation can be found on SEDAR+ at www.sedarplus.ca.

Not for distribution to U.S. newswire services or for dissemination in the U.S.

Corporate Logo

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/252352

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The U.S. has struggled for crypto clarity. Canada may have the answer

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Watch Daily: Monday – Friday, 3 PM ET

  • Canada was among the first countries to enact rules for crypto, starting with anti-money laundering guidelines in 2014.
  • The regulatory clarity has made Toronto a launchpad for blockchain growth, and Wall Street is taking notice.
  • Mike Novogratz’ Galaxy Digital is headquartered in New York but listed in Canada because it couldn’t go public in the United States.
PayPal crypto chief discusses adoption of its native stablecoin

TORONTO — Canada has quietly become a global leader in digital assets.

Canada was among the first countries to enact rules for crypto, starting with anti-money laundering guidelines in 2014. The country has repeatedly evolved its regulatory guidance in recent years, while U.S. lawmakers remain stuck in gridlock — even with a pro-crypto White House and a Republican-controlled Congress.

That regulatory clarity has made Toronto a launchpad for blockchain growth, and Wall Street is taking notice.

Robinhood‘s recent acquisition of Canadian crypto firm WonderFi, owner of Bitbuy and Coinsquare, plugs it into Canada’s established user base.

“Canada is a very attractive market for us,” said Johann Kerbrat, Robinhood’s crypto chief. “It’s projected to be more than 30 million users using crypto here in Canada, with revenue projections of about $900 million in 2025.”

The company’s decision to spend just under $180 million to buy WonderFi, which has one of the longest-standing crypto licenses in the country, is a direct bet on that growth.

Galaxy Digital, the digital asset investing giant founded by Mike Novogratz, is headquartered in New York but listed in Canada because it couldn’t go public in the United States. After being among the first to launch spot bitcoin ETFs in the U.S., Galaxy will finally debut on the Nasdaq on Friday.

DeFi Technologies, a Canadian player focused on being the Strategy of Solana, is also planning a U.S. listing.

“A lot of companies have started on the Toronto Stock Exchange and are trying to uplist into the Nasdaq,” said Ondo Finance CEO Nathan Allman. “I think we’re going to see more of that.”

At Consensus 2025 in Toronto, one of the world’s largest crypto conferences, JPMorgan, Ondo, and Chainlink announced a $100 billion bet on blockchain with a new platform to tokenize real-world assets.

The two firms say the new offering allows treasuries to be tokenized and settled using blockchain, combining JPMorgan’s Kinexys Digital Payments network with Ondo’s blockchain infrastructure.

“It’s really the first time that there’s been this interoperability between a bank’s permissioned blockchain environment and a public blockchain,” Allman said.

Crypto dealmaking has shown signs of life in recent months, as the United States has shifted its regulatory approach under President Donald Trump.

The Federal Deposit Insurance Corporation and Federal Reserve have eased restrictions on banks handling crypto, rolling back prior guidance that required pre-approval for digital asset activities.

The Securities and Exchange Commission has also taken a significant step by rescinding its restrictive accounting bulletin, which had forced companies holding crypto assets for clients to record them as liabilities. The new approach aligns crypto custody with traditional financial instruments.

At the same time, the SEC has launched a new Crypto Task Force, inviting public input on how to better regulate digital assets.

Read more about tech and crypto from CNBC Pro

“They want large enterprises like Citi to have a seat at the table,” said Ryan Rugg, global head of digital assets for Citi’s Treasury and Trade Solutions division. “They’re asking for our opinion, where I think in the past, it was not quite the case.”

The booking of Eric Trump, the president’s son and a leader of the newly-formed American Bitcoin, as a headline speaker, highlighted the growing presence of the U.S. in the crypto arena. The firm made waves when it launched in March, and already intends to go public through a merger with Gryphon Digital Mining.

“It’s important to remember: Most countries are totally neutral on blockchain,” said Dan Morehead, CEO of Pantera Capital. “The U.S. had a fairly antagonistic stance on blockchain which made it difficult for companies to get bank accounts, made it difficult for companies to go public.”

He said he believes many companies that would have gone public a few years ago will hit U.S. markets in the next six months.

“There’s obviously tremendous appetite in the public markets,” he said.

Israel-based crypto and stock trading platform eToro went public on Wednesday after pricing above its expected range. Shares soared nearly 29% on its first trading day.

The advancements in the U.S. aren’t without setbacks. A first-of-its-kind stablecoin regulation bill failed to advance in the Senate after Democratic lawmakers raised concerns about national security, while others expressed concerns about the president’s ties to crypto.

Still, the payment giants are charging ahead.

Mastercard announced Thursday that it’s partnering with Moonpay to let customers use debit cards to transact using their stablecoin balances.

PayPal announced Wednesday that it’s partnering with artificial intelligence platform Perplexity to enable chat-powered shopping. PayPal’s senior vice president of blockchain, crypto, and digital currencies told CNBC at Consensus 2025 that he sees a future where customers could transact in AI chats with their PayPal stablecoins or other crypto holdings.

“We are trying to make sure that PayPal and Venmo are the gateway product to get more people into crypto,” said Jose Fernandez da Ponte, PayPal’s senior vice president of blockchain, crypto, and digital currencies. “A lot of people get into crypto through us, and that leads us to continue to add tokens.”

While PayPal leans on accessibility and payments, Robinhood is doubling down on tokenization and staking to capture both retail and institutional users.

“This debate here in the U.S. is really important — it shows that we want to embrace the technology instead of just regulating it and turning it off like it was before,” Kerbrat said, describing his appearance at an SEC roundtable under new chair Paul Atkins.

The company sees blockchain technology as a way to transform everything from stocks to private equity markets and real estate into digital tokens that can be traded instantly.

“We think at Robinhood that it is actually the future, and we can bring a lot more traditional assets on-chain using tokenization,” Kerbrat added.

WATCH: Crypto and stock trading app eToro shares soar in Nasdaq debut: CNBC Crypto World

Crypto and stock trading app eToro shares soar in Nasdaq debut: CNBC Crypto World

B for Barrick Mining

Barrick NYSE-min

Barrick Mining Corp. now trades under the single-letter ticker symbol B on the New York Stock Exchange (NYSE). It previously traded as GOLD. In celebration of this milestone, Barrick President and CEO Mark Bristow and his team rang The Opening Bell at the NYSE on May 9, 2025.

“Barrick’s vision is to be the world’s most valued gold and copper exploration, development and mining company,” Bristow said.” Along with our world-class portfolio of six Tier 1 gold mines, we are building a substantial copper business which will be a meaningful contributor to organically growing our production volumes in the coming years and beyond,.”

On May 6, 2025, Barrick Gold Corp. changed its name to Barrick Mining Corp., reinforcing the company’s position as a gold and copper mining leader. Barrick common shares continue to trade under the ticker symbol ABX on the Toronto Stock Exchange.

Exro Technologies Reports First Quarter 2025 Results

CALGARY, AB, May 15, 2025 /PRNewswire/ – Exro Technologies Inc. (TSX: EXRO) (“Exro” or the “Company”), a leading technology company specializing in power control solutions for electric vehicles and energy storage, today announced its financial results for the first quarter ended March 31, 2025.


Exro Logo-Registered Trademark (CNW Group/Exro Technologies Inc.)

Q1 2025 Highlights

  • Revenue of $4.4 million from delivery of 23 electric propulsion units and aftersales services.
  • Continued integration of Coil Driver™ technology with a third commercial EV platform.
  • Strategic engagements advanced with Stellantis and two additional global automotive OEMs.
  • Workforce reduced by 19% and cost optimization initiatives began to deliver gross margin improvements.

“During the first quarter, Exro made meaningful progress executing against its commercialization roadmap,” said Exro CEO Sue Ozdemir. “We continued propulsion system deliveries to our commercial vehicle OEM customers, advanced new OEM programs, and began realizing the benefits of targeted cost reductions and margin improvements. With the electrification market continuing to evolve, we remain focused on disciplined execution, strategic capital deployment, and delivering long-term value.”

Financial Results

Revenue for Q1 2025 totaled $4.44 million, compared to $87,828 in Q1 2024. This increase reflects the Company’s transition from technology validation to commercial deliveries.

Gross profit, excluding amortization, was negative $2.3 million, an improvement from prior quarters, driven by early cost reductions, inventory efficiencies, and product mix optimization. Gross margin per unit improved significantly compared to Q4 2024, continuing the trend toward profitability.

Net loss from continuing operations was $23.5 million (or $0.04 per share), compared to a loss of $12.9 million (or $0.08 per share) in Q1 2024. The increase in loss is primarily attributable to non-cash charges, including $7.4 million in depreciation and amortization and $3.8 million in interest expense related to senior secured debt and convertible notes.

As of March 31, 2025, the Company held $0.76 million in cash and reported a working capital deficit of $7.0 million. Operating cash flow was negative $11.5 million, reflecting the scaling of commercial operations.

Strategic and Operational Update

  • Exro is delivering propulsion units to two of the top five commercial vehicle OEMs in North America and remains in advanced discussions with two others.
  • The Company is pursuing an additional OEM contract for 2026 production.
  • An additional 20% reduction in bill-of-materials costs is targeted by year-end.
  • Additional Cell Driver™ pilot deployments are scheduled across North America.
  • Following quarter-end, Exro is continuing to explore viable funding opportunities to support its business plan. The Company received US $4.0 million ($5,615,510) in additional funding from its existing senior secured creditor.

Strategic Wind-Down of APAC Subsidiary

As part of its focus on core markets and capital efficiency, Exro has initiated an orderly wind-down of its Australia-based subsidiary. Legal counsel has been retained, and the Company is working to resolve all lease, employment, and regulatory matters. This strategic decision supports the Company’s ongoing focus on cost reductions and reallocation of resources to high-impact markets with stronger commercial traction and more efficient capital deployment.

Outlook

While macroeconomic conditions continue to affect the broader automotive sector, Exro remains confident in the long-term demand for cost-efficient electrification solutions.

ABOUT EXRO TECHNOLOGIES INC.

Exro Technologies Inc., now expanded through the strategic acquisition of SEA Electric, is a leading technology company that has developed new-generation power control electronics. Its innovative suite of solutions, including Coil Driver™, Cell Driver™, and SEA-Drive®, expand the capabilities of electric motors and batteries and offer OEMs a comprehensive e-propulsion solution with unmatched performance and efficiency. Exro is reshaping global energy consumption, accelerating adoption towards a circular electrified economy by delivering more with less – minimum energy for maximum results. 

For more information visit our website at www.exro.com.

To view our Corporate Presentation visit us at www.exro.com/investors

Visit us on social media @exrotech.

CAUTIONARY STATEMENT REGARDING FORWARD LOOKING STATEMENTS

This news release contains forward-looking statements and forward-looking information (together, “forward-looking statements”) within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified using terminology such as “plans”, “expects”, “estimates”, “intends”, “anticipates”, “believes” or variations of such words, or statements that certain actions, events or results “may”, “could”, “would”, “might”, “will be taken”, “occur” or “be achieved”. Forward looking statements involve risks, uncertainties and other factors disclosed under the heading “Risk Factors” and elsewhere in the Company’s filings with Canadian securities regulators, that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although the Company believes that the assumptions and factors used in preparing these forward-looking statements are reasonable based upon the information currently available to management as of the date hereof, actual results and developments may differ materially from those contemplated by these statements. Readers are therefore cautioned not to place undue reliance on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

This information is qualified in its entirety by cautionary statements and risk factor disclosure contained in filings made by the Company with the Canadian securities regulators, including the Company’s annual information form for the financial year ended December 31, 2024, and financial statements and related MD&A for the financial year ended December 31, 2024, filed with the securities regulatory authorities in certain provinces of Canada and available at www.sedarplus.ca. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties, and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated, or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.

Neither the Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this press release.

Cision

View original content to download multimedia:https://www.prnewswire.com/news-releases/exro-technologies-reports-first-quarter-2025-results-302457321.html

SOURCE Exro Technologies Inc.

Calfrac Announces Voting Results of Election of Directors


Calfrac Announces Voting Results of Election of Directors – Toronto Stock Exchange News Today – EIN Presswire




















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Canada Growth Fund commits $111m for Foran Mining’s McIlvenna Bay project

Canada Growth Fund (CGF) has committed approximately C$156m ($111.6m) in a C$350m strategic non-brokered private placement by Foran Mining, a Canadian copper mining company.

The commitment has been made in partnership with co-investors such as Agnico Eagle Mines, which is committing C$90m, and C$75m committed by certain affiliates of Fairfax Financial Holdings, a Canadian holding company.

Additionally, an institutional equity investor is also participating in this offering, committing C$28m.

This investment by CGF and its partners will support Foran’s efforts to develop its flagship asset, the McIlvenna Bay project in Saskatchewan, Canada.

The offering will be completed in two tranches, with Foran issuing 116.6 million common shares at $3 each for gross proceeds of around C$350m.

The first tranche of approximately C$296m is expected to close around 28 May 2025, pending customary conditions and Toronto Stock Exchange approval.

Dan Myerson, Foran’s executive chairman and CEO, will also personally invest approximately C$1m in the offering.

Proceeds from the offering are earmarked for the construction completion at McIlvenna Bay and for advancing exploration at nearby and regional targets.

Yannick Beaudoin, president and CEO of Canada Growth Fund Investment Management, the exclusive investment manager of CGF, said: “Canada has a strategic advantage in critical minerals and CGF is committed to building strong supply chains for these minerals, from extraction to end-use.”

McIlvenna Bay is a polymetallic deposit located along the Flin Flon Greenstone Belt. It is currently the only copper and zinc deposit under construction in Canada.

The project will contribute to local job creation and increase Canadian copper and zinc production by up to 4% and 22%, respectively.

Myerson said: “Advancing a scalable project like McIlvenna Bay takes tenacity, adaptability and a long-term view. We are committed to making the right decisions to create lasting value – prioritising smart capital allocation, steady execution, and building the foundation for a scalable, multi-generational operation in a world-class district and jurisdiction.”

In July 2024, Foran Mining announced a financial package of up to C$315m to support the initial phase of the McIlvenna Bay project.


Precision Drilling Corporation Announces Voting Results from the 2025 Annual and Special Meeting of Shareholders


Precision Drilling Corporation Announces Voting Results from the 2025 Annual and Special Meeting of Shareholders – Toronto Stock Exchange News Today – EIN Presswire




















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