Kruger plans to invest $700 million in the Corner Brook Pulp and Paper Mill
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CTV News
a minute ago
- CTV News
Costs of data breaches dropping globally but not in Canada: IBM study
The uOttawa-IBM Cyber Range at the University of Ottawa, in Ottawa, is seen on Wednesday, May 22, 2024. THE CANADIAN PRESS/Justin Tang TORONTO — A new report shows the global average cost of a data breach dropped for the first time in five years — but not in Canada. The average cost of a breach between March 2024 and February 2025 was $6.4 million, down from $6.6 million a year earlier, showed research released Wednesday from technology giant IBM and the Ponemon Institute, a U.S.-based cybersecurity research centre. While global costs are decreasing because of shorter breach life cycles, expenses related to these attacks have risen in Canada, IBM Canada's security delivery leader Daina Proctor said. The average cost of a Canadian breach soared 10.4 per cent to $6.98 million in the latest year studied from $6.32 million the year before. Canada's average is higher because detection and escalation costs, which cover forensic investigators, regulatory responses, legal counsel and crisis communications, have risen, Proctor said. Detection costs now average $470,000 in Canada, while post-breach recovery costs hover around $270,000. At the same time, Canada is facing rising costs because of 'slower adoption of AI-driven defences and governance gaps,' Proctor said in an email. In the last year, cybersecurity issues have been reported at Nova Scotia Power, the College of New Caledonia in Prince George, B.C., and PowerSchool, the maker of education software used by many Canadian schools. Breaches can be expensive because they can be difficult to detect and assessing and recovering from them can be tedious, time-consuming work requiring many professionals and sometimes, interruptions for customers and workers. Most countries have seen fees associated with a breach drop because it's taking less time to investigate breaches. Yet several countries including Canada bucked that trend. IBM and Ponemon's research showed the cost of data breaches also rose in the U.S., India, the Association of Southeast Asian Nations and Benelux — the economic union of Belgium, the Netherlands and Luxembourg. Average breach costs in the United States reached a record US$10.22 million, an increase of nine per cent from last year. When it analyzed 600 organizations impacted by data breaches, it found the most expensive attacks hit the health care sector, followed by the financial, industrial and energy industries. In many instances, hackers made use of shadow artificial intelligence — when workers use AI without employer approval or oversight. 'Shadow AI has become one of the biggest blind spots for organizations today,' Proctor said. 'Employees are adopting AI tools to boost their productivity, but without oversight, they are inadvertently creating vulnerabilities.' Shadow AI systems often process sensitive data and interact with external systems companies have no control over. 'Once attackers exploit these gaps, the cascading effects can expose entire systems and supply chains to significant breaches,' Proctor said. Twenty per cent of the organizations studied said they suffered a breach due to security incidents involving shadow AI. Global organizations with high levels of shadow AI said use of this technology added $967,011 to the average breach price tag compared to those that had low levels of shadow AI or none. Incidents involving shadow AI also resulted in more personal identifiable information and intellectual property being compromised. To address the risks associated with shadow AI, Proctor said companies need to give workers more approved AI tools and conduct regular audits to find gaps in their offerings and employee compliance. This report by The Canadian Press was first published July 30, 2025. Tara Deschamps, The Canadian Press
Globe and Mail
a minute ago
- Globe and Mail
Homerun Resources Inc. Appoints Strand Hanson Limited as UK Financial Adviser to Explore Dual Listing on London Stock Exchange
Vancouver, British Columbia--(Newsfile Corp. - July 30, 2025) - Homerun Resources Inc. (TSXV: HMR) (OTCQB: HMRFF) ("Homerun" or the "Company") is pleased to announce that Strand Hanson Limited has been appointed as its UK Financial Adviser. This engagement marks a significant step as Homerun evaluates a potential dual listing on the international commercial companies secondary listing segment of the FCA's Official List, and admission to trading on the Main Market of the London Stock Exchange (LSE). Strand Hanson Limited is a leading independent financial advisory firm based in London, known for its expertise in corporate finance and capital markets. With a strong track record in advising growth companies, particularly in the natural resources and energy sectors. Their extensive experience in advising international companies on LSE listings brings valuable insight to Homerun's growth objectives and ambition to increase its global investor base. Homerun is a vertically integrated materials leader revolutionizing green energy solutions through advanced silica technologies. As an emerging force outside of China for high-purity quartz (HPQ) silica innovation, the Company controls the full industrial vertical from raw material extraction to cutting-edge solar, battery and energy storage solutions. The decision to pursue a dual listing on the London Stock Exchange supports Homerun's strategy of expanding its capital markets presence, improving share liquidity, and enhancing visibility with institutional and retail investors worldwide. London, as one of the world's premier financial centers, offers unparalleled access to international capital and a diverse range of sophisticated investors. This move will position Homerun to: Broaden its shareholder base beyond North America. Access deeper pools of capital and improve funding flexibility. Enhance the Company's brand recognition in the UK and European markets. Attract high-caliber institutional investors who are active on the LSE. Offer investors increased trading flexibility, transparency, and regulatory standards associated with London's Main Market. Commenting on the partnership, CEO, Brian Leeners, stated: "We are excited to welcome Strand Hanson Limited as our UK Financial Adviser. Their proven track record and expertise with London listings will be instrumental as we assess the merits of a dual listing on the Main Market of the London Stock Exchange, aligning with our objectives to create greater value for our shareholders." About Homerun ( Homerun (TSXV: HMR) is a vertically integrated materials leader revolutionizing green energy solutions through advanced silica technologies. As an emerging force outside of China for high-purity quartz (HPQ) silica innovation, the Company controls the full industrial vertical from raw material extraction to cutting-edge solar, battery and energy storage solutions. Our dual-engine vertical integration strategy combines: Homerun Advanced Materials Utilizing Homerun's robust supply of high purity silica sand and quartz silica materials to facilitate domestic and international sales of processed silica through the development of a 120,000 tpy processing plant. Pioneering zero-waste thermoelectric purification and advanced materials processing technologies with University of California - Davis. Homerun Energy Solutions Building Latin America's first dedicated high-efficiency, 365,000 tpy solar glass manufacturing facility and pioneering new solar technologies based on years of experience as an industry leader in developing photovoltaic technologies with a specialization in perovskite photovoltaics. European leader in the marketing, distribution and sales of alternative energy solutions into the commercial and industrial segments (B2B). Commercializing Artificial Intelligence (AI) Energy Management and Control System Solutions (hardware and software) for energy capture, energy storage and efficient energy use. Partnering with U.S. Dept. of Energy/NREL on the development of the Enduring long-duration energy storage system utilizing the Company's high-purity silica sand for industrial heat and electricity arbitrage and complementary silica purification. With six profit centers built within the vertical strategy and all gaining economic advantage utilizing the Company's HPQ silica, across, solar, battery and energy storage solutions, Homerun is positioned to capitalize on high-growth global energy transition markets. The 3-phase development plan has achieved all key milestones in a timely manner, including government partnerships, scalable logistical market access, and breakthrough IP in advanced materials processing and energy solutions. Homerun maintains an uncompromising commitment to ESG principles, deploying the cleanest and most sustainable production technologies across all operations while benefiting the people in the communities where the Company operates. As we advance revenue generation and vertical integration in 2025, the Company continues to deliver shareholder value through strategic execution within the unstoppable global energy transition. On behalf of the Board of Directors of Homerun Resources Inc. "Brian Leeners" FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements". Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. To view the source version of this press release, please visit
CTV News
a minute ago
- CTV News
Emergency cash from province means Northern Ont. town won't cease operations Aug. 1
Facing an end to municipal operations Aug. 1, Fauquier-Strickland is receiving $300,000 from the province to help it get through the next few months. After going public with its financial crisis, officials in Fauquier-Strickland say the province has agreed to provide it with $300,000 in emergency funding to pay for operations for the next few months. Council had passed a motion to cease municipal services effective Aug. 1 and lay off remaining staff, getting the province's attention to its financial plight. It even planned to sell the community's snowplow. FS_PublicWorks News that the Township of Fauquier-Strickland could cease to exist at the end of the month was a shock to residents across the province, but especially to those in the community. (Lydia Chubak/CTV News) According to the agenda for a special meeting July 31, the township has accumulated an operating deficit of $2.5 million since 2014, in addition to $3.04 million in debts. All reserves had been exhausted and the township was getting by using its line of credit, which was almost exhausted. That led the township's council to vote to cease operations Aug. 1. $300K in emergency funds In a letter dated July 25, however, Robert Flack, Ontario's minister of Municipal Affairs and Housing, said the province would give Fauquier-Strickland $300,000 to fund operations for the next three months, provided they met certain conditions. The first condition was that they rescind the motion to cease municipal operations and lay off staff on Aug. 1. Councillors must also adopt its 2025 operating budget, including water and sewer, by Aug. 31. A spending freeze must also be put in place, tax bills have to be issued and financial documents have to be submitted to the ministry by Sept. 15. 'To ensure appropriate and prudent decisions are made with the best interests of the residents of your community, I expect council to fulfill its duties and responsibilities under the Municipal Act,' Flack wrote. That includes managing their finances in a way that ensures 'the financial integrity of the township.' If all conditions are met, the township would receive $32,200 in August, $195,000 in September and $72,800 in October. Read the full agenda for the July 31 meeting here.
