How a Great (Though Failed) Beer Run Could Give Birth to a New Canada
Some called it the greatest beer run in Canadian history, a beer run for the ages, a beer run that in its very failure provoked questions about nationhood and the identity of Canada itself.
Back in 2012, Gerard Comeau, a power utility lineman, slipped back into his home province of New Brunswick in his Honda Accord with a trunk full of cheap beer bought in Quebec. The police stopped him, confiscated the beer and fined him for bringing too much of it into New Brunswick.
The soft-spoken Mr. Comeau fought back — all the way to the nation's highest court — because of the questions his case raised. Didn't Canada's founding Constitution Act guarantee free trade across the land? Why were there so many barriers inside Canada, with each province and territory acting like fiefdoms? Why was it easier for a brewery in Quebec to export to France than to neighboring New Brunswick? Was Canada even a real country?
'If you're going to be a country, you've got to be open to trade between the provinces,' Mr. Comeau, now 71 and retired, said. 'But everybody's separate right now.'
Though Mr. Comeau lost his case in Canada's Supreme Court in 2018, recent geopolitical and national developments are nudging Canada in his favor.
Faced with President Trump's economic tariffs, Prime Minister Mark Carney has made it a priority to remove barriers among Canada's 10 provinces and three territories — regulations that block the free flow of goods or make it difficult to do business among provinces. Doing so would create a stronger national economy and make Canada less dependent on the United States, he has argued, vowing to launch Canada's biggest economic transformation since the end of World War II.
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Yahoo
an hour ago
- Yahoo
SOLLUM TECHNOLOGIES PARTNERS WITH OPTIMAL TO ADVANCE AI GREENHOUSE CONTROL
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Yahoo
an hour ago
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MAG Silver Announces the Filing of Its Management Information Circular in Connection With Its Special Meeting to Approve Acquisition by Pan American
All amounts expressed in U.S. dollars unless otherwise indicated. The Board of Directors unanimously recommends Shareholders vote FOR the Arrangement Resolution Attractive immediate premium and compelling transaction benefits For assistance with voting, contact Kingsdale Advisors by telephone at 1-800-775-1986 (toll-free in North America) or 1-416-623-2517 (text and call enabled outside North America), or by email at contactus@ VANCOUVER, British Columbia, June 09, 2025 (GLOBE NEWSWIRE) -- MAG Silver Corp. (TSX / NYSE American: MAG) ('MAG', or the 'Company') announces that the management information circular and related materials associated with the upcoming special meeting (the 'Special Meeting') of shareholders of the Company (the 'Shareholders') to be held on July 10, 2025 have been filed under the Company's profile on SEDAR+ and will be mailed to Shareholders on June 11, 2025. The Special Meeting is being held in connection with the proposed acquisition of all of the issued and outstanding shares of the Company (the 'MAG Shares') by Pan American Silver Corp. ('Pan American') previously announced on May 11, 2025 (the 'Arrangement'). On June 6, 2025, MAG obtained an interim order (the 'Interim Order') from the Supreme Court of British Columbia (the 'Court') authorizing the holding of the Special Meeting and matters relating to the conduct of the Special Meeting. At the Special Meeting, Shareholders will be asked to consider and, if deemed acceptable, pass a special resolution (the 'Arrangement Resolution') to approve the arrangement between the Company and Pan American under Section 288 of the Business Corporations Act (British Columbia) (the 'Plan of Arrangement'), whereby Pan American will acquire all of the issued and outstanding shares of the Company, with Shareholders receiving total consideration of approximately $2.1 billion representing $20.54 per MAG share, based on the closing price of Pan American's common shares on the New York Stock Exchange on May 9, 2025. Consideration will be comprised of a mix of cash totaling $500 million and common shares in the authorized share capital of Pan American (each, a 'Pan American Share') as detailed below. The Arrangement will be carried out pursuant to the terms of an arrangement agreement dated May 11, 2025 (as amended on May 30, 2025 and June 6, 2025) between the Company and Pan American (the 'Arrangement Agreement') and the terms of the Plan of Arrangement. Pursuant to the terms of the Interim Order, Shareholders of record at the close of business on June 2, 2025 (the 'Record Date') will be entitled to vote at the Special Meeting, with each such Shareholder entitled to one vote per each MAG Share held. Shareholders are encouraged to vote well in advance of the proxy voting deadline of July 8, 2025, at 9:00 a.m. (Vancouver Time). The Board of Directors of the Company (the 'Board') unanimously recommends Shareholders vote FOR the Arrangement Resolution, in accordance with the instructions set out in the meeting materials. Each director and officer of the Company intends to vote all of such director's and/or officer's MAG Shares FOR the Arrangement Resolution. In making their recommendation, the Board considered a number of factors in deciding that the Arrangement was in the best interests of the Company, including, among others: Immediate value uplift of approximately 21% and 27%, respectively, on a prorated basis to the closing price and the 20-day VWAP of the MAG Shares on the NYSE American LLC ('NYSE American') ending May 9, 2025. The Shareholders have the option to receive either (a) $20.54 in cash for each MAG Share held or (b) $0.0001 in cash and 0.755 of a Pan American Share for each MAG Share held, subject to proration such that the aggregate consideration paid to all Shareholders consists of $500 million in cash and the remaining consideration paid in Pan American Shares. Exposure to Pan American's diversified portfolio of ten silver and gold mines across seven countries and a proven track record of success in exploration, project-development and mining operations. Enlarged growth pipeline with exposure to Pan American's La Colorada Skarn project in Mexico and the potential reopening of Pan American's 100%-owned Escobal mine, one of the world's best silver mines with past production of 20 Moz of silver per year. The Arrangement provides Shareholders with the opportunity to maintain exposure to the Juanicipio Mine, which continues to demonstrate strong operational performance and resource potential. Significantly de-risks Shareholders' exposure by converting a concentrated interest in the Juanicipio Mine into equity ownership of Pan American, a diversified, leading silver producer with meaningful, long-term upside. Equity participation in a well-capitalized, value driven, large-cap silver producer known for returning capital to shareholders, with over $1.0 billion returned to shareholders via dividends and share buybacks since 2010. Greater scale, lower risk and peer leading cash flows driving improved trading liquidity on U.S. and Canadian markets. Eligible Holders (as defined in the Arrangement Agreement) who receive Pan American Shares may make a Section 85 Election (as defined in the Arrangement Agreement) to obtain a full or partial tax deferred rollover for Canadian income tax purposes in respect of the sale of the Eligible Holder's MAG Shares to Pan American. The Company considered, and engaged with, other potential strategic partners and acquirors and determined that it was unlikely that any of those parties would complete a transaction on terms that were superior to the Arrangement, concluding that the transaction with Pan American was in the best interests of the Company. The fairness opinions from Raymond James Ltd., BMO Capital Markets and GenCap Mining Advisory Ltd. that, subject to and based on the considerations, assumptions and limitations described therein, the consideration to be received by the Shareholders pursuant to the Arrangement is fair, from a financial point of view, to the Shareholders. Pursuant to voting agreements, the directors and senior officers of the Company have agreed to vote all of their MAG Shares, including any MAG Shares issuable upon exercise or redemption of stock options of MAG and other convertible securities of MAG, in favour of the Arrangement. Under the terms of the Arrangement Agreement, the Board will remain able to respond to any unsolicited bona fide written proposal that constitutes a 'Superior Proposal' under the terms of the Arrangement Agreement, subject to a right to match and a break fee that are not expected to deter other potential interested buyers, if any. : The Arrangement Agreement is the result of a comprehensive negotiation process with Pan American that was undertaken by the Company and its legal and financial advisors with the oversight of the special committee of independent directors of the Board formed in respect of the Arrangement (the 'Special Committee'). : Pan American's obligation to complete the Arrangement is subject to a limited number of conditions that the Company believes are reasonable in the circumstances. The evaluation and negotiation process was supervised by the Special Committee, which is composed entirely of independent directors and was advised by experienced and qualified financial and legal advisors. The Special Committee met regularly with financial and legal advisors. The Arrangement was unanimously recommended to the Board by the Special Committee. The Arrangement must be approved by not less than two-thirds (2/3) of the votes cast by Shareholders present in person or represented by proxy at the Special Meeting. The Arrangement must be approved by the Supreme Court of British Columbia, which will consider, among other things, the fairness and reasonableness of the Arrangement to Shareholders. The Arrangement requires clearance under the Competition Act (Canada) and clearance under Mexican anti-trust laws. The terms of the Plan of Arrangement provide that registered Shareholders as of the Record Date who oppose the Arrangement may, upon compliance with certain conditions, exercise dissent rights and, if ultimately successful, receive fair value for their MAG Shares. Under the terms of the Arrangement, Shareholders will be able to elect to receive the consideration as either (i) $20.54 in cash per MAG Share or (ii) 0.755 Pan American Shares per MAG Share, subject to proration such that the aggregate consideration paid to all Shareholders consists of $500 million in cash and the remaining consideration paid in Pan American Shares. Subject to obtaining approval from the Shareholders to the Arrangement Resolution at the Special Meeting, Court approval and certain regulatory approvals, including clearance under the Competition Act (Canada) and clearance under Mexican anti-trust laws, as well as the satisfaction or waiver of other conditions contained in the Arrangement Agreement, all as more particularly described in the management information circular of the Company, it is currently anticipated that the Arrangement will be completed in the second half of 2025. The meeting materials contain important additional information regarding the Arrangement, including the rights and entitlements of Shareholders thereunder and how Shareholders can attend and vote at the Special Meeting, and accordingly, should be carefully reviewed. The meeting materials will be mailed to all Shareholders of record as at the Record Date and are also available on the Company's website at and under the Company's profile on SEDAR+ at Shareholder Questions Shareholders who have questions or need assistance with voting their MAG Shares should contact Kingsdale Advisors by telephone at 1-800-775-1986 (toll-free in North America) or 1-416-623-2517 (text and call enabled outside North America), or by email at contactus@ About MAG Silver Corp. MAG Silver Corp. is a growth-oriented Canadian mining and exploration company focused on advancing high-grade, district scale precious metals projects in the Americas. MAG is emerging as a top-tier primary silver mining company through its (44%) joint venture interest in the 4,000 tonnes per day Juanicipio Mine, operated by Fresnillo plc (56%). The mine is located in the Fresnillo Silver Trend in Mexico, the world's premier silver mining camp, where in addition to underground mine production and processing of high-grade mineralised material, an expanded exploration program is in place targeting multiple highly prospective targets. MAG is also executing multi-phase exploration programs at the 100% earn-in Deer Trail Project in Utah and the 100% owned Larder Project, located in the historically prolific Abitibi region of Canada. Neither the Toronto Stock Exchange nor the NYSE American has reviewed or accepted responsibility for the accuracy or adequacy of this press release, which has been prepared by management. Certain information contained in this release are 'forward-looking information' and 'forward-looking statements' within the meaning of applicable Canadian and United States securities legislation (collectively herein referred as 'forward-looking statements'), including the 'safe harbour' provisions of provincial securities legislation, the U.S. Private Securities Litigation Reform Act of 1995, Section 21E of the U.S. Securities Exchange Act of 1934, as amended and Section 27A of the U.S. Securities Act. Such forward-looking statements include, but are not limited to the anticipated benefits of the Arrangement; the development of the La Colorada Skarn, or the consultation process for Escobal, and any anticipated benefits to the value of the Pan American Shares or financial or operational performance of Pan American that may be derived therefrom; Pan American's plans and expectations for its properties and operations; the timing, satisfaction of closing conditions, consummation and terms of the Arrangement, including the consideration thereunder and benefits derived therefrom; the operation of the Juanicipio mine and exploration of its surrounding regions, the Juanicipio mine's generation of free cash flow, and any anticipated benefits to shareholder value or financial or operational performance that may be derived therefrom. When used in this release, any statements that express or involve discussions with respect to predictions, beliefs, plans, projections, objectives, assumptions or future events of performance (often but not always using words or phrases such as 'anticipate', 'believe', 'estimate', 'expect', 'intend', 'plan', 'strategy', 'goals', 'objectives', 'project', 'potential' or variations thereof or stating that certain actions, events, or results 'may', 'could', 'would', 'might' or 'will' be taken, occur or be achieved, or the negative of any of these terms and similar expressions), as they relate to the Company or management, are intended to identify forward-looking statements. Such statements reflect the Company's current views with respect to future events and are subject to certain known and unknown risks, uncertainties and assumptions. Forward-looking statements are necessarily based upon estimates and assumptions, which are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the Company's control and many of which, regarding future business decisions, are subject to change. Assumptions underlying the Company's expectations regarding forward-looking statements contained in this release include, among others: the impact of inflation and disruptions to the global, regional and local supply chains; tonnage of ore to be mined and processed; future anticipated prices for gold, silver and other metals and assumed foreign exchange rates; the timing and impact of planned capital expenditure projects, including anticipated sustaining, project, and exploration expenditures; the ongoing impact on Pan American and timing of the court-mandated ILO 169 consultation process in Guatemala; ore grades and recoveries; capital, decommissioning and reclamation estimates; Pan American and the Company's mineral reserve and mineral resource estimates and the assumptions upon which they are based; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour-related disruptions at any of Pan American and the Company's operations; no unplanned delays or interruptions in scheduled production; all necessary permits, licenses and regulatory approvals for Pan American's operations are received in a timely manner; Pan American and the Company's ability to secure and maintain title and ownership to mineral properties and the surface rights necessary for our operations; whether Pan American and the Company is able to maintain a strong financial condition and have sufficient capital, to sustain their respective businesses and operations; and Pan American and the Company's ability to comply with environmental, health and safety laws. Although MAG believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. These forward-looking statements involve known and unknown risks, uncertainties and many factors could cause actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. The Company's forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are made and, other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations or opinions should change. For the reasons set forth above, investors should not attribute undue certainty to or place undue reliance on forward-looking statements. Please Note: Investors are urged to consider closely the disclosures in MAG's annual and quarterly reports and other public filings, accessible through the Internet at and CONTACT: For further information on behalf of MAG Silver Corp., please contact Fausto Di Trapani, Chief Financial Officer. Phone: (604) 630-1399 Toll Free: (866) 630-1399 Email: info@ 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
San Francisco Chronicle
an hour ago
- San Francisco Chronicle
Netanyahu's government could collapse over ultra-Orthodox military draft law
BNEI BARAK, Israel (AP) — Prime Minister Benjamin Netanyahu faces a vote to dissolve parliament Wednesday and key coalition partners have threatened to bring down his government. Still, few think it's the end of the road for Israel's longest-serving prime minister, who has been battling corruption charges for years, or his far-right government, still in power after presiding over the security failures surrounding the Hamas-led Oct. 7, 2023, attack. The move to dissolve, called by the opposition, will only pass if Netanyahu's ultra-Orthodox coalition partners break with him over the failure to pass a law exempting their community from military service, an issue that has bitterly divided Israelis, especially during the ongoing war in the Gaza Strip. The threats coming from the ultra-Orthodox could be posturing, and many expect Netanyahu to pull off a last-minute deal. But Wednesday's vote is the most serious challenge to Netanyahu's government since the war began, and the coalition's collapse could have major implications for Israel and the ongoing war. Why do the ultra-Orthodox reject military service? Most Jewish men are required to serve nearly three years of military service followed by years of reserve duty. Jewish women serve two mandatory years. But the politically powerful ultra-Orthodox, who make up roughly 13% of Israeli society, have traditionally received exemptions if they are studying full-time in religious seminaries. The exemptions — and the government stipends many seminary students receive through age 26 — have infuriated the general public. After Hamas' 2023 attack, Israel activated 360,000 reservists, its largest mobilization since the 1973 Mideast war. Israel is engaged in the longest active war in the country's history, which has stretched its robust military to the breaking point. Many reserve soldiers have served multiple rounds of duty in Gaza totaling hundreds of days. Some reserve soldiers are rejecting new call-ups. The number of Israelis continuing to report for reserve duty has dropped so low that the military has taken to social media to try to recruit people to keep serving. The enlistment exemption for the ultra-Orthodox goes back to Israel's 1948 founding, when small numbers of gifted scholars were exempt from the draft in response to the decimation of Jewish scholarship during the Holocaust. But with a push from politically powerful religious parties, the numbers have swelled to tens of thousands today. Israel's Supreme Court said the exemptions were illegal in 2017, but repeated extensions and government delay tactics have prevented a replacement law from being passed. Among Israel's Jewish majority, mandatory military service is largely seen as a melting pot and rite of passage. That's exactly why some ultra-Orthodox don't want their children to serve. 'It mixes together people with very different backgrounds, very different ideas, some people with very immoral ideas,' said Rabbi Ephraim Luft, 66, from the ultra-Orthodox stronghold of Bnei Barak. Luft said the community's dedication to upholding Jewish commandments protects the country as much as military service. 'Over thousands of years, the Jewish people have stood very strongly against any kind of decrees to force them to give up their religion, they've given up their lives for this,' Luft said. 'People have to understand there's no difference between the Spanish Inquisition or the Israeli draft law.' Why would ultra-Orthodox parties want to bring down the government? Two parties belonging to the Haredim, or 'God-fearing' in Hebrew, are essential to Prime Minister Benjamin Netanyahu's coalition. Both would need to vote to dissolve the government to force new elections, including Shas, which has traditionally been more supportive of Netanyahu. On Monday, a Shas spokesperson told an ultra-Orthodox radio program the party currently plans to vote in favor of dissolution, unless there is a breakthrough in negotiations. The other party, Degel HaTorah, has been threatening to leave the government since last week. 'Basically, they don't really care about the war and the economic situation of the state and anything else but their communal interest. And the focus of this communal interest is getting the exemption from serving in the army," said Shuki Friedman, an expert on religion and state affairs and vice president of the Jewish People Policy Institute, a Jerusalem think tank. Friedman and other experts say the current system is unsustainable. With its high birthrate, the ultra-Orthodox are the fastest-growing segment of Israel's population, at about 4% annually. Each year, roughly 13,000 ultra-Orthodox men reach the conscription age of 18, but less than 10% enlist, according to parliament's State Control Committee, which held a hearing examining the issue. The shock of the Oct. 7 attack appeared to ignite some enthusiasm among the ultra-Orthodox to serve, but no large enlistment materialized. The army has repeatedly declined to comment on the ultra-Orthodox enlistment rate. What happens if parliament is dissolved? If the dissolution vote passes, it still faces a series of bureaucratic steps, including additional votes, that the government would likely drag on for weeks or months, said Gayil Talshir, a political science professor at Hebrew University. 'It will be like a gun that's been put into position, but that doesn't mean the coalition is over,' she said. Elections in Israel are currently scheduled for the fall of 2026. Both Talshir and Friedman believe it's unlikely the dissolution vote will pass Wednesday. If one ultra-Orthodox party is absent, the vote will not pass and another cannot be brought for six months, Talshir said. However, there's also a 'valid possibility' the rabbis who advise the ultra-Orthodox parties will say they've waited long enough for a draft exemption law, because they are facing enormous pressure from their communities, Friedman said. The army has issued thousands of draft notices to the ultra-Orthodox community, and those who refuse to serve can face arrest. While only around a dozen have been arrested after being stopped for trying to leave the country or for traffic violations, the fear this has inspired is significant, he added. What impact does this have on the war in Gaza and the hostage crisis? Netanyahu frequently cites the ongoing war as a reason why Israel needs to provide a united front against its enemies. While the ultra-Orthodox parties remain part of the coalition, they want the war to end as quickly as possible, Talshir said.
