Maritime provinces, Ottawa announce $9 million to help restore regional air travel
Under a three-year pilot program with PAL Airlines, daily flights will be offered between Halifax, Sydney, N.S., Charlottetown, Fredericton and Moncton, N.B.
Passengers are expected to fly with the service later this year, although exact dates aren't yet known.
The joint funding includes $5 million from the Atlantic Canada Opportunities Agency, $2.9 million from Nova Scotia, $840,000 from P.E.I. and $458,000 from New Brunswick.
P.E.I. Premier Rob Lantz and Island MP Sean Casey made the announcement Friday at the Charlottetown airport with Nova Scotia Premier Tim Houston and Gilles LePage, minister responsible for New Brunswick's Regional Development Corporation.
The announcement comes after the Council of Atlantic Premiers formed a working group in February 2023 on regional air travel that included government and airport authority representatives.
This report by The Canadian Press was first published Aug. 8, 2025.
The Canadian Press
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
10 minutes ago
- Yahoo
Denison Mines prices $300m convertible notes for uranium projects development
Denison Mines has announced the pricing of its $300m (C$414.05m) offering of convertible senior unsecured notes due in 2031, with the potential for an additional $45m purchase by initial buyers, to support its uranium development projects. The notes will carry a semi-annual interest rate of 4.25%. Denison plans to allocate the net proceeds towards the evaluation and development of initiatives such as the Wheeler River uranium project, and for general corporate purposes. The Wheeler River project is located on the eastern side of the Athabasca Basin in northern Saskatchewan, Canada. The initial conversion rate for the notes has been set at 342.9355 shares per $1,000 principal amount, equating to an initial conversion price of approximately $2.92 per share. This rate is at a 35% premium over the closing sale price of the shares on 12 August 2025 and may be adjusted under certain conditions. Denison retains the right to redeem the notes in specific scenarios, while holders have the right to demand repurchase upon certain events. The offering is expected to close around 15 August 2025, subject to standard closing conditions. The company also intends to fund capped call transactions with a portion of the proceeds or existing cash reserves. In connection with the notes' pricing, Denison has entered into capped call transactions with initial purchasers and financial institutions. These transactions aim to minimise potential dilution from the conversion of the notes and offset any excess cash payments required upon conversion, up to a set limit. The capped call counterparties have disclosed plans to engage in derivative transactions related to the company's shares alongside or shortly after the notes' pricing. These actions could influence the market price of Denison's shares or the notes. Additionally, the counterparties may adjust their hedge positions through various derivatives or secondary market transactions, which could also impact the market price and affect noteholders' conversion outcomes. The offering is contingent upon receiving all necessary approvals, including from the Toronto Stock Exchange and the NYSE American. "Denison Mines prices $300m convertible notes for uranium projects development" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
10 minutes ago
- Yahoo
AI firm Cohere raises US$500 million, giving business US$6.8 billion valuation
TORONTO — Cohere says it's raised US$500 million, giving the Canadian artificial intelligence firm a US$6.8 billion valuation. The funding round was led by Radical Ventures and Inovia Capital, with additional cash from AMD Ventures, Nvidia, PSP Investments, Salesforce Ventures and the Healthcare of Ontario Pension Plan. Cohere says the money will accelerate the Toronto-based company's efforts to build agentic AI products. It says its AI aims to free people from tedious tasks, giving them more time for more interesting and challenging work. In addition to the funding, Cohere announced Joelle Pineau, who was previously Meta's vice-president of AI research, will become the company's chief AI officer. Francois Chadwick, who has worked at Uber and KPMG, will become Cohere's chief financial officer. This report by The Canadian Press was first published Aug. 14, 2025. Tara Deschamps, The Canadian Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
10 minutes ago
- Yahoo
Elizabeth Warren Probes Lutnick Son on Reported Tariff Bets
(Bloomberg) — Democratic Senators Elizabeth Warren and Ron Wyden wrote a letter to Cantor Fitzgerald LP Chairman Brandon Lutnick raising questions about possible conflicts of interest and insider trading in bets the firm reportedly made on the legality of Trump administration tariffs. Lutnick is the son of US Commerce Secretary Howard Lutnick, a key figure in the Trump administration's tariff policies. The letter, dated Wednesday, was released by the senators on Thursday morning. The US-Canadian Road Safety Gap Is Getting Wider Sunseeking Germans Face Swiss Backlash Over Alpine Holiday Congestion To Head Off Severe Storm Surges, Nova Scotia Invests in 'Living Shorelines' Five Years After Black Lives Matter, Brussels' Colonial Statues Remain For Homeless Cyclists, Bikes Bring an Escape From the Streets The firm's alleged bets on the legality of the tariffs were reported by Wired in July. 'What is being reported about our business is absolutely false. Cantor is not in the business of positioning any risk, taking views or facilitating business in litigation claims involving the legality of US tariffs,' Cantor Fitzgerald spokesperson Erica Chase said in a statement. —With assistance from Todd Gillespie. Americans Are Getting Priced Out of Homeownership at Record Rates Dubai's Housing Boom Is Stoking Fears of Another Crash Bessent on Tariffs, Deficits and Embracing Trump's Economic Plan Why It's Actually a Good Time to Buy a House, According to a Zillow Economist The Electric Pickup Truck Boom Turned Into a Big Bust ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
