How CBC investigated an alleged grandparent scam mogul
Gareth West lived a life of luxury. He said he made his money from buying and selling real estate in Montreal and southern Ontario. Now, he's been charged with orchestrating a $30-million scam network.
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David Rosenberg: How did the Canadian market hit a new record? Gold exposure has helped
Despite a flurry of twists and turns in the constantly evolving tariff saga, a period of relative calm has ensued after the chaos of tariff announcements and the early April market selloff, triggered by 'Liberation Day.' As the third-largest trading partner of the United States, Canada has fared relatively well after being excluded from the Liberation Day tariffs and having Canada-United States-Mexico Agreement-compliant products excluded from the 25 per cent 'fentanyl' tariffs. Helped by the 90-day tariff reprieve, set to expire July 9, the ongoing constructive tone in tariff negotiations helped the Canadian cyclical bucket, as industrials (driven by another tailwind explained below) and financials performed well during this timeframe. It was a complete reversal of what we experienced in February and March, when market sentiment was dominated by the height of tariff fears and defensive plays (such as dollar stores and utilities) were outperforming. So much so that we saw both the S&P/TSX industrials index and the S&P/TSX financials index post double-digit returns during these 17 trading days — a nice juicy return from a sector rotation perspective. To a large extent, what investors liked in the latest banking sector reporting season was the move to get ahead of the consumer delinquency cycle and sharply bolster loan loss reserve provisioning. In turn, this helped the overall Canadian benchmark, given its relative valuation support, namely, trading at about a 16x forward P/E multiple versus more than 21x for the S&P 500. From a sector-positioning perspective, another crucial pillar of strength was derived from the gold miners' price performance, boosted by the recent rally in gold prices to around US$3,400 per ounce and up nearly 30 per cent year to date. In contrast to the S&P 500, which has but one miner in the index (Newmont Corp.), which accounts for 0.1 per cent of the market cap, Canada is replete with 27 members that comprise a much higher 8.9 per cent share of the S&P/TSX composite index. The exposure the Canadian index has to precious metals is so precious that the sector has been responsible for half of the 7.3 per cent advance so far in 2025. Gold has continued to benefit from the convergence of structural tailwinds, such as the global monetary debasement, sovereign fiscal largesse and its traditional role as a macro hedge against geopolitical uncertainty. Rising bullion prices, combined with still relatively low valuations for the gold miners, have provided extra torque to the positive contribution by the materials sector during this timeframe. A case in point is Newmont, the largest miner by market capitalization, which trades at a 13x NTM P/E, vs. its five-year historical average of 20x. According to CIBC Capital Markets, mining has accounted for approximately 40 per cent of new Canadian issuances on a year-to-date basis. Consequently, this strong price performance from the precious metals sector (comprising about 11 per cent of the S&P/TSX composite) has resulted in underweight generalist funds adding exposure. Additionally, ongoing gold purchases by central banks and governments have continued to support gold prices and mining shares. According to Goldman Sachs Group Inc., global central banks are buying 80 metric tons of gold monthly, and sovereign wealth funds are collectively acquiring 1,000 tons annually — about a quarter of yearly global production. We remind you that these strategic market players are long-term investors who happen to be price-indiscriminate. On April 28, Prime Minister Mark Carney's Liberal Party formed a minority government in a remarkable comeback from early polling deficits. The global investing community took an optimistic view that he can reinvigorate the Canadian economy and navigate a challenging diplomatic environment with its neighbour south of the 49th parallel. During the campaign, the Liberals proposed an activist fiscal agenda that set out nearly $130 billion in new spending initiatives spread over several important themes, including infrastructure building, defence spending, housing affordability, internal trade and economic development, and the fast-tracking of resource project development. One can see that the central theme here is to pivot Canada towards domestic economic resilience after relying on a deepening U.S. relationship for 80 years. Moreover, Carney proved his ability to be firm yet diplomatic in his first meeting with U.S. President Donald Trump, and that may reflect early signs of tensions thawing between Washington and Ottawa. From a stock market perspective, this percolated into a strong showing for the S&P/TSX capped industrials index, which includes select engineering and consulting (E&C), infrastructure and aerospace and defence stocks, posting an increase of approximately 10 per cent. In the famous words of Walter Wriston, 'Capital goes where it is welcome and stays where it is well treated.' In this sense, both domestic and foreign investors took notice and started pricing the change in leadership as a catalyst for streamlining permitting processes, accelerating infrastructure approvals and reducing regulatory friction — key enablers of capital investment and long-term earnings growth. In the aftermath of Trump's tariff announcements and threats to annex Canada as the 51st state, Canadians exhibited a collective push to support domestic products and services, strengthen local businesses and reduce reliance on foreign imports. According to Statistics Canada, air travel to the south of the border posted a drastic 24 per cent year-over-year decrease in May. Travel by land fared even worse, posting a 38 per cent year-over-year decline in the same period, marking the fifth consecutive month of declines versus the prior year. This meant that more Canadians were spending money at home, buying into the Buy Canadian theme, and providing a boost to domestic retailer margins in the process. At the company-specific level, we heard an apparent read-through of this economically nationalistic trend from Loblaw Cos. Ltd., which reported a 12 per cent uptick in sales of Canadian-made products. In the company's first-quarter earnings call, one of the key takeaways was when chief executive Per Bank said, 'Canadians care deeply about the region of the product they purchase and we continue to actually seek out Canadian manufacturers for the products we sell.' Additionally, he emphasized that data from Loblaw's online grocery service showed a clear pivot by shoppers towards the Buy Canadian theme via both shopping intentions and actual dollars spent. A case when the soft data were actually in sync with the hard data! We heard similar management commentary from the likes of Metro Inc. and George Weston Ltd., with Metro saying that 'sales of Canadian products (are) outpacing total sales.' From an equity market perspective, we saw this theme play out in the price performance of the S&P/TSX consumer staples index, which was up by 10.6 per cent, and acted as another fundamental pillar of strength that has helped the S&P/TSX composite wipe out its losses following April's global nosedive. All in, a confluence of fundamental factors pushed the S&P/TSX composite to become one of the first global benchmarks to get back to its pre-'Liberation Day' levels. Thus, the Canadian benchmark has benefitted from sectoral composition and a cyclical/value bent, an economically nationalistic trend that buoyed domestic retail and a newly elected government with a pro-growth fiscal playbook. Global markets have added a new term to the investing lexicon: The Great White Long Trade. Surprise job gains in Canada conceal economic rot Bank of Canada has made a big mistake The Canadian market has unique characteristics compared to the U.S. in that it generates far greater dividend and earnings yields. The relative valuations in the Canadian stock market remain compelling: you get paid to take on equity risk when you compare it to the alternatives in cash and bonds. The same cannot be said for U.S. markets. David Rosenberg is founder and president of independent research firm Rosenberg Research & Associates Inc. Alp Erdogan is an external research consultant there. To receive more of David Rosenberg's insights and analysis, you can sign up for a complimentary, one-month trial on the Rosenberg Research website.
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NFI's New Flyer secures order from Brampton Transit for additional 55 buses
WINNIPEG, Manitoba, June 23, 2025 (GLOBE NEWSWIRE) -- (TSX: NFI, OTC: NFYEF, TSX: NFI Group Inc. (NFI) a leader in propulsion-agnostic bus and coach mobility solutions, subsidiary New Flyer Industries Canada ULC (New Flyer), will deliver 55 new Xcelsior® buses to Brampton Transit, expanding the city's fleet with next-generation transit solutions. The new order includes 20 Xcelsior® hybrid-electric 40-foot buses and 35 Xcelsior® clean-diesel 60-foot buses (70 equivalent units). This award will be included in New Flyer's second quarter 2025 backlog. "At New Flyer, our broad product portfolio enables us to meet the evolving needs of agencies like Brampton Transit, offering the right propulsion technology and vehicle configuration for every operation," said Chris Stoddart, President, North American Bus and Coach, NFI. "With more than 300 buses delivered to Brampton over the past 30 years, this latest order is a strong endorsement of our commitment to delivering innovative, propulsion-agnostic mobility solutions that help cities move forward.' Brampton, the third-largest city in Ontario and part of the Greater Toronto Area, is investing in a stronger, more sustainable transit system to serve its growing population of over 650,000 residents. Brampton Transit operates more than 500 buses across 70 routes, including the city's highly successful Züm Bus Rapid Transit service. New Flyer's Xcelsior hybrid-electric and clean-diesel buses deliver practical, real-world benefits for transit operators, offering improved fuel efficiency, reduced emissions, and strong operational reliability. Powered by advanced engines, ultra-low sulfur diesel, and innovative technologies, these buses offer an efficient and sustainable transportation solution that helps Canadian communities, such as Brampton, grow while supporting transit innovation and modern manufacturing. Learn more at NFI Leveraging 450 years of combined experience, NFI offers a wide range of propulsion-agnostic bus and coach platforms, including market leading electric models. Through its low- and zero-emission buses and coaches, infrastructure, and technology, NFI meets today's urban demands for scalable smart mobility solutions. Together, NFI is enabling more livable cities through connected, clean, and sustainable transportation. With nearly 9,000 team members in ten countries, NFI is a leading global bus manufacturer of mass mobility solutions under the brands New Flyer® (heavy-duty transit buses), MCI® (motorcoaches), Alexander Dennis Limited (single- and double-deck buses), Plaxton (motorcoaches), ARBOC® (low-floor cutaway and medium-duty buses), and NFI Parts™. NFI currently offers the widest range of sustainable drive systems available, including zero-emission electric (trolley, battery, and fuel cell), natural gas, electric hybrid, and clean diesel. In total, NFI supports its installed base of over 100,000 buses and coaches around the world. NFI's common shares trade on the Toronto Stock Exchange (TSX) under the symbol NFI and its convertible unsecured debentures trade on the TSX under the symbol News and information is available at and About New Flyer New Flyer is North America's heavy-duty transit bus leader and offers the most advanced product line under the Xcelsior® and Xcelsior CHARGE® brands. It also offers infrastructure development through NFI Infrastructure Solutions™, a service dedicated to providing safe, sustainable, and reliable charging and mobility solutions. New Flyer actively supports over 35,000 heavy-duty transit buses (New Flyer, NABI, and Orion) currently in service, of which 8,600 are powered by electric motors and battery propulsion and 1,900 are zero-emission. Further information is available at Forward-Looking Statement This press release may contain forward-looking statements relating to expected future events and financial and operating results of NFI that involve risks and uncertainties. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, investors cannot be assured that actual results will be consistent with these forward-looking statements, and the differences may be material. Actual results may differ materially from management expectations as projected in such forward-looking statements for a variety of reasons, including market and general economic conditions and economic conditions of and funding availability for customers to purchase buses and to purchase parts or services; customers may not exercise options to purchase additional buses; the ability of customers to suspend or terminate contracts for convenience; production may be delayed or production rates may be decreased as a result of ongoing and future supply chain disruptions and shortages of parts and components, shipping and freight delays, and disruption to and shortage of labor supply; and the other risks and uncertainties discussed in the materials filed with the Canadian securities regulatory authorities and available on SEDAR at Due to the potential impact of these factors, NFI disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law. For media inquiries, please contact: Melissa Schnee P: 385.910.6861 Melissa_Schnee@ For investor inquiries, please contact: Stephen King P: 204.792.1300 A photo accompanying this announcement is available at in to access your portfolio
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MINAURUM GOLD INC. ANNOUNCES C$5.0M BEST EFFORTS PRIVATE PLACEMENT
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. NOT AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES/ VANCOUVER, BC, June 23, 2025 /CNW/ - Minaurum Gold Inc. ("Minaurum" or the "Company") (TSXV: MGG) (OTCQX: MMRGF) is pleased to announce that it has entered into an agreement with Cormark Securities Inc. ("Cormark"), on behalf of itself and on behalf of a syndicate investment dealers, (collectively, the "Agents") pursuant to which Cormark has agreed to act as lead agent for and on behalf of Minaurum in connection with a "best efforts" private placement for aggregate gross proceeds of up to approximately C$5 million (the "Offering"). The Offering will consist of the issuance and sale of 20,000,000 units of the Company (the "Units") at a price of C$0.25 per Unit (the "Issue Price"). Each Unit will consist of one common share of the Company (each, a "Unit Share") and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant shall entitle the holder thereof to purchase one common share of the Company (each, a "Warrant Share") at a price of C$0.37 on the date that is 24 months following the Closing Date (as defined below). The Company has granted the Agents an option, exercisable in whole or in part, at any time prior to Closing Date, to increase the size of the Offering to raise additional gross proceeds of up to C$750,000. The Company intends to use net proceeds from the Offering for exploration expenditures on the Company's Alamos silver project, property maintenance and permitting costs and for general working capital purposes. The Company is conducting a listed issuer financing pursuant to Section Part 5A.2 of National Instrument 45-106 Prospectus Exemptions, as amended by Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the "Listed Issuer Financing Exemption"). to purchasers in Canada (other than the province of Quebec). The Agents will also be entitled to offer the Units for sale in the United States pursuant to available exemptions from the registration requirements of the United States Securities Act of 1933, as amended, and in certain other jurisdictions outside of Canada and the United States provided it is understood that no prospectus filing or comparable obligation, ongoing reporting requirement or requisite regulatory or governmental approval arises in such other jurisdictions. The Units issued pursuant to the Listed Issuer Financing Exemption will not be subject to a hold period in Canada. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or any U.S. state securities laws, and may not be offered or sold in the United States absent registration or available exemptions from such registration requirements. This news release does not constitute an offer to acquire securities in any jurisdiction. There is an offering document with respect to the portion of the Offering being conducted pursuant to the Listed Issuer Financing Exemption that can be accessed under the Company's profile at and the Company's website at Prospective investors of Units issued under the Listed Issuer Financing Exemption should read this offering document before making an investment decision. The Offering is expected to close on or about July 3, 2025, or on such other date as may be agreed to by the Company and the Agents, subject to compliance with applicable securities laws (the "Closing Date"). Notwithstanding the foregoing, the closing of any Units issued pursuant to the Listed Issuer Financing Exemption must occur no later than the 45th day following the date of this news release. The completion of the Offering is subject to customary conditions, including, but not limited to, the negotiation of an agency agreement between the parties with respect to the Offering and the receipt of all necessary approvals, inclusive of (if applicable) the approval of the TSX Venture Exchange. Follow us and stay updated: YouTube: @minaurumgoldLinkedIn: to our email list at Minaurum Gold Inc. (MGG | TSX Venture Exchange; MMRGF | OTC; 78M Frankfurt) is an Americas-focused explorer concentrating on the high-grade 100% owned, production-permitted Alamos silver project in southern Sonora, Mexico and a portfolio of district-scale projects in Mexico. Minaurum is managed by one of the strongest technical and finance teams and will continue its founders' legacy of creating shareholder value by acquiring and developing a pipeline of Tier-One precious-and base metal projects. ON BEHALF OF THE BOARD "Darrell A. Rader" Darrell A. RaderPresident and CEO The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release. Cautionary Note Regarding Forward Looking Information: This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to activities, events or developments that the Company expects or anticipates will or may occur in the future, including, without limitation, the anticipated timing of closing of the Offering or at all; the anticipated terms of the Units and the Warrants; the anticipated use of the net proceeds of the Offering; and the anticipated receipt of all necessary approvals in respect of the Offering are forward-looking statements and contain forward-looking information. Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof. In making the forward-looking information in this release, Minaurum has applied certain factors and assumptions that are based on Minaurum's current beliefs as well as assumptions made by and information currently available to Minaurum including, among other things, that the Offering will close on the anticipated timeline or at all; that the Units and the Warrants will have the anticipated terms; that the Company will use the net proceeds of the Offering as anticipated; and that the Company will receive all necessary approvals in respect of the Offering. Although Minaurum considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking information in this release is subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information. Minaurum does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by law. SOURCE Minaurum Gold Inc. View original content: 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
