Canadian firm to make drones for navy's Halifax-class ships: defence department
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Ottawa announced it has awarded two contracts to MDA Space for up to six advanced 'uncrewed aircraft systems' for the Navy's patrol frigates.
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The department has earmarked $39 million to acquire the first two drones, with an option of ordering another four.
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Cision Canada
5 minutes ago
- Cision Canada
Essa Pharma Inc. Announces US$80 Million Cash Distribution to Shareholders
SOUTH SAN FRANCISCO, Calif and VANCOUVER, Canada, Aug. 6, 2025 /CNW/ -- ESSA Pharma Inc. (" ESSA," or the " Company") (NASDAQ: EPIX) today announced that, following the Company's receipt of an order from the Supreme Court of British Columbia (the " Court") on August 5, 2025, authorizing a reduction in the capital of the common shares of the Company (the " Common Shares" and the holders of such Common Shares, the " Shareholders") and concurrent distribution to the Shareholders, the board of directors of the Company (the " Board") has approved a return of capital distribution in the aggregate amount of US$80,000,000 (the " Distribution") to the Shareholders as part of the discontinuance and winding-up of the business of the Company. The Distribution is scheduled to be paid on August 22, 2025, to Shareholders of record as of the close of business on August 19, 2025. The Distribution will occur prior to the special meeting of the Company's Shareholders, optionholders and warrantholders that is being held to consider and approve the Company's previously announced transaction with XenoTherapeutics, Inc. (" Xeno"), a non-profit biotechnology company, under which Xeno will acquire all of the issued and outstanding Common Shares (the " Transaction"), which meeting is expected to be held on September 10, 2025 (the " Special Meeting"). On August 5, 2025, the Company obtained an interim order from the Court authorizing the Special Meeting. In total, with the Distribution and the cash payable upon closing of the Transaction, each Shareholder is currently estimated to receive approximately US$1.91 per Common Share, exclusive of any contingent value rights payments Shareholders are entitled to receive pursuant to the Transaction. About ESSA Pharma Inc. ESSA is a pharmaceutical company that was previously focused on developing novel and proprietary therapies for the treatment of patients with prostate cancer. For more information, please visit Forward Looking Statement This communication, and any related oral statements, contains certain information which, as presented, constitutes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities laws (collectively, " forward-looking statements"). Forward-looking statements include, but are not limited to, statements that relate to future events and often address expected future business and financial performance, containing words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions and include, but are not limited to, statements regarding the proposed timing and completion of the Transaction, the amounts payable under the Transaction; the Company's application to the Supreme Court of British Columbia for a reduction of capital and cash distribution prior to the closing of the Transaction; the timing and receipt of securityholder, regulatory and court approvals of the Transaction; the satisfaction of the conditions to the completion of the Transaction and other statements that are not statements of historical facts. In this communication, these forward-looking statements are based on ESSA's current expectations, estimates and projections regarding, among other things, the expected date of closing of the Transaction and the potential benefits thereof, its business and industry, management's beliefs and certain assumptions made by ESSA, all of which are subject to change. Forward-looking statements are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of ESSA to control or predict, and which may cause ESSA's actual results, performance or achievements to be materially different from those expressed or implied thereby, including the consummation of the Transaction and the anticipated benefits thereof. Such statements reflect ESSA's current views with respect to future events, are subject to risks and uncertainties and are necessarily based upon a number of estimates and assumptions that, while considered reasonable by ESSA as of the date of such statements, are inherently subject to significant medical, scientific, business, economic, competitive, regulatory, political and social uncertainties and contingencies. In making forward-looking statements, ESSA may make various material assumptions, including but not limited to (i) the completion of the Transaction on anticipated terms and timing, including obtaining required securityholder, regulatory and court approvals, and the satisfaction of other conditions to the completion of the Transaction; (ii) the potential for the date of the Special Meeting to change; (iii) potential litigation relating to the Transaction that could be instituted by or against ESSA, Xeno, XOMA Royalty Corporation or their respective directors or officers, including the effects of any outcomes related thereto; (iv) the risk that disruptions from the Transaction will harm ESSA's business, including current plans and operations; (v) the ability of ESSA to retain and hire key personnel; (vi) potential adverse reactions or changes to business relationships resulting from the announcement or completion of the Transaction; (vii) continued availability of capital and financing and rating agency actions; (viii) legislative, regulatory and economic developments affecting ESSA's business; (ix) the accuracy of ESSA's financial projections; (x) general business, market and economic conditions; (xi) certain restrictions during the pendency of the Transaction that may impact ESSA's ability to pursue certain business opportunities or strategic transactions; (xii) unpredictability and severity of catastrophic events, including but not limited to acts of terrorism, pandemics, outbreaks of war or hostilities, as well as ESSA's response to any of the aforementioned factors; (xiii) significant transaction costs associated with the Transaction; (xiv) the possibility that the Transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; (xv) competitive responses to the Transaction; (xvi) the risks and uncertainties pertaining to ESSA's business, including those set forth in ESSA's Annual Report on Form 10-K dated December 17, 2024, under the heading "Risk Factors", a copy of which is available on ESSA's profile on EDGAR at and on SEDAR+ at and as otherwise disclosed from time to time on ESSA's EDGAR and SEDAR+ profiles; and (xvii) the risks and uncertainties that will be described in the proxy statement and management information circular for the Company's securityholders filed with the U.S. Securities and Exchange Commission (the " SEC," and such statement, the " Proxy Statement") available from the sources indicated above. These risks, as well as other risks associated with the Transaction, will be more fully discussed in the Proxy Statement. While the list of factors presented here is, and the list of factors to be presented in the Proxy Statement will be, considered representative, no such list should be considered a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material impact on ESSA's financial condition, results of operations, credit rating or liquidity. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and ESSA undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as may be required by applicable United States and Canadian securities laws. Readers are cautioned against attributing undue certainty to forward-looking statements. Important Additional Information and Where to Find It In connection with the proposed Transaction between ESSA, Xeno and XOMA Royalty Corporation, ESSA has filed with the SEC the preliminary Proxy Statement on July 31, 2025, the definitive version of which will be filed with the SEC and sent or provided to ESSA securityholders. ESSA may also file other documents with the SEC regarding the proposed Transaction. This document is not a substitute for the Proxy Statement or any other document which ESSA may file with the SEC or send or provide to ESSA securityholders in connection with the Transaction. INVESTORS AND SECURITYHOLDERS ARE URGED TO READ THE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND RELATED MATTERS. Investors and securityholders may obtain free copies of the Proxy Statement and other documents that are filed or will be filed with the SEC by ESSA (when they become available) through the website maintained by the SEC at on SEDAR+ at or at ESSA's website at Participants in the Solicitation ESSA and certain of its directors and executive officers may be deemed to be participants in the solicitation of proxies from ESSA's shareholders in connection with the proposed Transaction. Additional information regarding such participants, including a description of their direct or indirect interests, by security holdings or otherwise, can be found under the captions "THE ARRANGEMENT – Interests of the Company's Directors and Executive Officers in the Arrangement", "IMPORTANT INFORMATION ABOUT THE COMPANY – Security Ownership" and "INTERESTS OF THE COMPANY'S DIRECTORS AND EXECUTIVE OFFICERS IN THE ARRANGEMENT" contained in the preliminary Proxy Statement filed with the SEC on July 31, 2025. Information relating to the foregoing can also be found in ESSA's proxy statement for its 2025 annual meeting of shareholders, which was filed with the SEC on January 22, 2025 (the " Annual Meeting Proxy Statement"). To the extent holdings of securities by potential participants changed since the applicable "as of" date disclosed in the preliminary Proxy Statement, such information has been or will be reflected on ESSA's Statements of Change in Ownership on Forms 3 and 4 filed with the SEC. You may obtain free copies of these documents using the sources indicated above. or / Dan Moore [email protected] SOURCE ESSA Pharma Inc.
Toronto Star
5 minutes ago
- Toronto Star
Donald Trump is ‘coming at us hard,' Doug Ford warns after trade briefing from Mark Carney
Ontario Premier Doug Ford speaks during the Northeast Governors and Canadian Premiers moderated discussion on the impacts of U.S. tariffs in Boston, Massachusetts on June 16, 2025. Joseph Prezioso/AFP via Getty Images
CTV News
5 minutes ago
- CTV News
Sustainably sourced jewelry gives new meaning to second life
Beauty and nature were an obvious combination for Theresa Capell when it came to inspiration for her jewelry and her brand, Miss Foxine Couture. 'Growing up in the Annapolis Valley, I would go for walks in the woods. Sometimes I'd see a fallen butterfly, and I just thought, 'they're so beautiful and gorgeous that I wanted to find a way to preserve their natural beauty', since Earth is the biggest inspiration of all throughout my work,' explained Capell of her unique butterfly wing jewelry. 'I contacted sanctuaries and conservatories across Canada, trying to find ways to preserve their beauty and really letting them know that it's something I want it to be able to pass on, since they're delicate lifespans only last one to two weeks.' She now receives wings every couple of months and repurposes them into necklaces and earrings, which tend to be her biggest hit. 'Everything is so easy to sell because I really believe in her and all of her work,' explained employee, Melissa Bradley. 'And I've been able to see her progress to where she is now, and it's very inspiring.' Miss Foxine Couture Miss Foxine Couture owner Theresa Capell and employee Melissa Bradley at the Halifax waterfront jewelry stand. (CTV Atlantic/ Brianne Foley) Inspiring too for those flocking to the waterfront in Halifax and seeing the bright and beautiful display. 'I get a really good response from them [sanctuaries and conservatories] and from customers, just to know that I'm recycling from nature and I'm reusing beauty at its purest form,' Capell said with a smile. Something Bradley doubled down on. 'Everybody gushes about how talented she is, how wonderful all the pieces are. They love that things are sustainable and ethically sourced, like the butterfly wings and the pearls, so nothing is harmed in the making of the jewelry, because if nothing has to die for art, then it shouldn't.' Capell began Miss Foxine Couture in 2008 to make money while attending design school, she would go to markets to sell her products. 'I fell in love with the process of creating and designing jewelry. It's so hands on, and it really got to put my inspiration out there and my thoughts, ideas into physical form,' she said. 'And when I graduated in 2013, I'm like, 'maybe I can make this into a real thing if I really hustle hard really bring my love into it'.' And the community has supported her venture. 'They really love it. They like seeing my journey, being Halifax founded and being from within Canada,' said Capell. 'A lot of customers have seen my journey from me being like a poor university student. So now being able to use sustainable materials within my work. I love seeing my journey and seeing how my work grows and how I support the environment through my pieces.' Something Bradley loved too, who met Capell 11 years ago while buying a pair of those butterfly earrings, she began working for her part-time. Last year, Bradley began working full-time and sees how people respond to the products they sell. Even in trying times given the tariffs coming from the United States, Capell said Miss Foxine has pivoted and found a surprising response. 'We've been finding it weirdly a little bit better than past years,' Capell said. 'I'm just finding tourists are really wanting to support small businesses. Even Americans, even though it's not an American made product. People are wanting to support that and wanting to pay for small businesses and supporting their lifestyle.' 'Surprisingly, I was talking to a few cruise ship goers, and they were happy to buy local,' added Bradley. 'They were being more mindful as well, which was really surprising just because it's Canadian local. It was nice that everybody's kind of getting on board with trying to support Canada.' But with Miss Foxine, it's not just Canadian culture she wants to highlight. 'I'm Filipino Canadian. My mom's Filipino, my dad's Canadian,' explained Capell. 'Just trying to figure out who I am as an individual, as a Canadian and a Filipino. It's important for me to preserve my heritage and incorporate that throughout my work. So, I'm really expressing who I am as an individual and an artist.' Which is why the pearls for her pieces are sourced from the Philippines, while everything else is local to support her desire for sustainability, and of course, culture. 'The jewelry industry contributes so much to emissions, especially in the water and our carbon footprint,' she said. 'So, it's important for me that I use gold filled and sterling silver. So, you know that your jewelry isn't just going to be thrown out and put in the garbage and causing environmental hazards.' As for the name, she found inspiration through the whimsical. 'It's based on this fairytale of this woman who turned into a fox, and she protects women. And from my work, jewelry is like a totem that you can wear every day to express yourself in your journey.' A journey she continues on everyday. 'Growing up by the ocean, as a kid I was like, 'oh, maybe someday I'll be able to sell things on the beach, have a little hut or a stand',' she smiled. 'I think recently over the last couple of years, being on the Halifax waterfront and being at the Halifax Seaport Farmers Market, I didn't realize that I had brought that vision to life.' Miss Foxine Couture Miss Foxine Couture repurposes butterflies and sources sustainable products to create local jewelry. (CTV Atlantic/ Brianne Foley) For more Nova Scotia news, visit our dedicated provincial page
