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BC Ferries deal with Chinese shipyard makes waves in Ottawa

BC Ferries deal with Chinese shipyard makes waves in Ottawa

Yahooa day ago

OTTAWA — BC Ferries set off a tidal wave of controversy on Tuesday after announcing a major shipbuilding deal with a Chinese state-owned enterprise, with the ripple effects of the decision reaching Ottawa.
Vancouver Island Conservative MP Jeff Kibble raised the issue in Wednesday's question period, accusing the Liberal government of rewarding the provincial carrier for selling out Canada's national interest.
'The Liberals are set to hand over $30 million (in federal subsidies) to BC Ferries while BC Ferries hands over critical jobs, investment and industry to China,' said Kibble.
BC Ferries said in a press release that it had awarded China Merchants Industry Weihai Shipyards (CMI Weihai) a contract to build four new vessels after a 'rigorous' global bidding process.
Company CEO Nicolas Jimenez was quoted in the release as saying that CMI Weihai was the 'clear choice' for the contract given, among other factors, its 'proven ability to deliver safe, reliable vessels on dependable timelines.'
Kibble blasted BC Ferries in the House of Commons for buying the ships from China instead of a 'proven Canadian shipbuilder' and pressed the Liberal government to tie federal ferry subsidies to buying Canadian-built ships.
Liberal Transportation Minister Chrystia Freeland said that she shared Kibble's concerns about procurement 'at all levels of government' but wouldn't comment directly on the BC Ferries contract, calling it a provincial matter.
One politician who hasn't hesitated to criticize the deal is the provincial minister responsible for BC Ferries.
B.C. Transportation Minister Mike Farnworth was quick to distance himself from the decision, saying he was worried about the message it sends in the midst of Chinese economic aggression.
'I do have concerns around procuring services from any country that is actively harming Canada's economy through unfair tariffs or other protectionist trade practices. I have shared these concerns with BC Ferries,' Farnworth told the media.
Yet, despite his reservations, he ruled out blocking the BC Ferries-CMI Weihai deal.
'BC Ferries is an independent company responsible for its own operational decisions,' said Farnworth.
He added that he was 'disappointed' that the contract didn't include more involvement from Canadian shipyards.
BC Ferries' head of fleet renewal, Ed Hooper, told Postmedia that no Canadian shipbuilders bid on the contract won by CMI Weihai.
Liberal Prime Minister Mark Carney promised to ramp up Canadian shipbuilding during this spring's federal election campaign.
The federal government previously awarded the Chinese state-owned company a contract to build a new vessel for east coast ferry operator Marine Atlantic, according to a 2023 filing from Transport Canada.
The ship began service between Nova Scotia and Newfoundland in July 2024.
Federal Procurement Minister Joël Lightbound didn't respond to an inquiry from the National Post about the BC Ferries-CMI Weihai deal, and didn't indicate whether the federal government would continue to take bids from the company.
A spokesperson with Public Services and Procurement Canada told the National Post that CMI Weihai does not appear on the agency's database of active bids.
National Post
rmohamed@postmedia.com
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Bonterra Announces $7M Brokered Private Placement
Bonterra Announces $7M Brokered Private Placement

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time40 minutes ago

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Bonterra Announces $7M Brokered Private Placement

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES VAL-D'OR, Quebec, June 12, 2025 (GLOBE NEWSWIRE) -- Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR2) ('Bonterra' or the 'Company') is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp. to act as lead agent and sole-bookrunner ('Canaccord Genuity') on behalf of a syndicate of agents (the 'Agents'), in connection with a brokered 'best efforts' private placement of (i) up to 20,454,545 'hard-dollar' units of the Company ('HD Units') at a price of $0.22 per HD Unit (the 'HD Issue Price'); (ii) up to 2,083,333 'flow-through' units of the Company ('FT Units') at a price of C$0.24 per FT Unit; and (iii) up to 6,557,377 'flow-through' units of the Company ('Premium FT Units' and, together with the HD Units and the FT Units, the 'Offered Securities') at a price of C$0.305 per Premium FT Unit, for aggregate for gross proceeds of up to approximately $7,000,000 pursuant to the listed issuer financing exemption available under Part 5A of National Instrument 45-106 – Prospectus Exemptions ('NI 45-106') as amended by Coordinated Blanket Order 45-935, in each of the Provinces of Canada (the 'Offering'). The Offered Securities issued to Canadian resident subscribers will not be subject to a hold period pursuant to applicable Canadian securities laws. The Company has granted the Agents an option (the 'Agents' Option') to sell additional Offered Securities for up to 15% of the number of securities sold in connection with the Offering. The Agents' Option is exercisable in whole or in part at any time, up to the Closing Date (as defined below) and can be exercised for HD Units, FT Units or Premium FT Units or any combination thereof. Each HD Unit will consist of one common share of the Company (a 'Share') and one half of one common share purchase warrant (each whole warrant, a 'Warrant'). Each Warrant will entitle the holder thereof to acquire one Share at an exercise price of $0.30 for a period of three years from the date of issuance. Each FT Unit and Premium FT Unit will consist of one Share and one half Warrant, each of which will qualify as a 'flow-through share' (within the meaning of subsection 66(15) of the Income Tax Act (Canada)). For certainty, the proceeds from the exercise of the Warrants will not be flow-through eligible. There is an offering document relating to the Offering (the 'Offering Document') that can be accessed under the Company's profile at and on the Company's website at Prospective investors in the Offering should read the Offering Document before making an investment decision. Completion of this Offering will occur June 30, 2025 or on such date as may be agreed upon by the Company and Canaccord Genuity (the 'Closing Date'). Closing of the Offering is subject to certain customary conditions including receipt of all necessary approvals including the approval of the TSX Venture Exchange. The Offered Securities issued pursuant to the Offering will not be subject to any hold periods pursuant to applicable Canadian securities laws. The Company intends to use the net proceeds from the Offering to fund ongoing operations for the next twelve (12) months, all as further detailed in the Offering Document. The net proceeds from the sale of the HD Units will be used for general corporate and administrative matters. The gross proceeds from the sale of FT Units and Premium FT Units will be used by the Company pursuant to the provisions in the Income Tax Act (Canada) (the 'Tax Act'), to incur eligible 'Canadian exploration expenses' as defined in s. 66.1(6) of the Tax Act that qualify as 'flow-through mining expenditures' as defined in subsection 127(9) of the Tax Act (or would so qualify if the references to 'before 2026' in paragraph (a) of the definition of 'flow-through mining expenditure' in subsection 127(9) of the Tax Act were read as 'before 2027' and the references in paragraphs (c) and (d) of that definition to 'before April 2025' were read as 'before April 2026') (the 'Qualifying Expenditures') related to the Company's projects, on or before December 31, 2026 (or such other period as may be permissible under applicable tax legislation), and to renounce all the Qualifying Expenditures in favour of the subscribers of the FT Units and Premium FT Units effective December 31, 2025. This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities to be sold in the Offering have not been and will not be registered under the United States Securities Act of 1933, as amended (the '1933 Act') or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. persons unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available. 'United States' and 'U.S. person' have the meaning ascribed to them in Regulation S under the 1933 Act. FOR ADDITIONAL INFORMATION Marc-André Pelletier, President & CEOir@ 2872 Sullivan Road, Suite 2, Val d'Or, Quebec J9P 0B9819-825-8678 | Website: This news release contains forward‐looking statements and forward‐looking information within the meaning of applicable securities laws. All statements other than statements of historical fact may be forward‐looking statements or information. Forward-looking statements are frequently identified by such words as 'may', 'will', 'plan', 'expect', 'anticipate', 'estimate', 'intend' and similar words referring to future events and results. The forward‐looking statements and information are based on certain key expectations and assumptions made by management of the Company. Forward-looking statements made in this news release include statements regarding tax treatment of the securities, regulatory approval, anticipated completion of the Offering, and the proposed use of proceeds of the Offering. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward‐looking statements and information since no assurance can be given that they will prove to be correct. Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Actual results could differ materially from those currently anticipated due to a number of factors and risks, including, with respect to the Offering, the conditions of the financial markets, availability of financing, timeliness of completion of the Offering, and the timing of TSX Venture Exchange approval; and with respect to the use of proceeds, the sufficiency of the proceeds, the speculative nature of mineral exploration and development, fluctuating commodity prices, and competitive, as described in more detail in our recent securities filings available at including the Offering Document. Accordingly, readers should not place undue reliance on the forward‐looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward‐looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward‐looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.

CanPR Technology Ltd. Announces Operational Update, Highlights Canada's Skilled Immigration Focus, and Unveils Strategic Expansion Plans
CanPR Technology Ltd. Announces Operational Update, Highlights Canada's Skilled Immigration Focus, and Unveils Strategic Expansion Plans

Yahoo

time42 minutes ago

  • Yahoo

CanPR Technology Ltd. Announces Operational Update, Highlights Canada's Skilled Immigration Focus, and Unveils Strategic Expansion Plans

Toronto, Ontario--(Newsfile Corp. - June 12, 2025) - CanPR Technology Ltd. (TSXV: WPR) ("CanPR" or the "Company"), a technology company transforming immigration services through artificial intelligence (AI), workforce connectivity, and community integration, is pleased to share its operational update for the fiscal year ending May 31, 2025. The Company is entering its next fiscal year on a foundation of strong financial performance, deepening platform adoption, and bold global expansion. To discuss the fiscal year ending May 31, 2026, CanPR will hold an investor call on June 19, 2025 at 2:30pm (Toronto time). To join the call, please join by phone by dialing 647-559-9986 and entering the meeting ID of 892 505 559#. CanPR's preliminary results for the financial year ended May 31, 2025, with the following key highlights: Positive Net Income: Based on preliminary results, during the Company's three-months ended May 31, 2025, CANPR generated positive net income, validating operational efficiency and scalable business infrastructure. Platform Reach: 250,000+ monthly active users (MAUs) on the mobile platform 5 million+ monthly social impressions, elevating immigrant stories and success journeys 10,000+ active users on our AI-powered chatbot, offering real-time immigration guidance SmartCV: Continues to gain traction, equipping both newcomers and local jobseekers with resume-building tools, skill enhancement features, and pathways to meaningful employment. Employer Marketplace: Our marketplace now connects Canadian employers directly with verified, job-ready talent, streamlining the hiring process and driving faster integration for newcomers. Global Immigration Market Opportunity1 The global immigration services market is experiencing rapid growth: Valued at $18 billion (USD) in 2024, the immigration services sector is forecast to grow to over $34.3 billion (USD) by 2032, at a CAGR of 8.4% The broader global skilled labour migration ecosystem—including consulting, application management, and job placement—represents an estimated $35+ billion (USD) annual opportunity Canada alone expects to admit 1.1 million new permanent residents between 2025 and 2027, while countries like New Zealand, Australia, and Germany are also increasing skilled immigration targets to address workforce gaps. CanPR is focused on expanding its platform in the countries above to take advantage of the growth strategy. Canada continues to lead globally in immigration policy with a focus on attracting and retaining skilled talent. In its 2025–2027 Immigration Levels Plan, the Government of Canada reaffirmed a target of 485,000 new permanent residents in 2025, over 60% of whom are expected to enter via economic programs, including Express Entry, Provincial Nominee Programs, and the Atlantic Immigration Program. Canada's Immigration Minister emphasized that "immigration is a key pillar of Canada's economic strategy and innovation ecosystem."2 This directly fuels CanPR's core mission to assist skilled immigrants in obtaining permanent residency and achieving economic integration. The Canadian immigration system is also undergoing digital modernization to improve efficiency and accessibility. These national initiatives perfectly align with CanPR's digital-first, data-driven platform that supports users through every step of their immigration and settlement journey—from initial permanent residence applications to job placement and community integration. Strategic M&A Pipeline As part of our roadmap, CanPR is actively exploring acquisitions in recruitment and immigration industries. These moves aim to deepen our service stack and accelerate CanPR's global reach. These strategic investments aim to enhance the platform's capabilities, broaden its user base, and create a more integrated value chain. Preliminary Unaudited Financial Information The financial measures included in this news release are based on preliminary unaudited estimated results which have not yet been finalized or audited. These estimated results are subject to change upon completion of the financial statements for the year ended May 31, 2025 and the audit of such financial statements and such changes could be material due to, among other things, the completion of CANPR's financial closing procedures, final adjustments, review by the Company's auditors and other developments that may arise between now and the time the financial results are finalized. Accordingly, such estimated results are forward-looking statements (as defined below) within the meaning of applicable securities legislation and are subject to the limitations and risks described under "Forward-Looking Statements", below. CANPR expects to file its audited annual financial statements for the year ended May 31, 2025 and related management's discussion and analysis on SEDAR in late September 2025. Forward-Looking Information Certain information and statements in this news release contain and constitute forward-looking information or forward-looking statements as defined under applicable securities laws (collectively, "forward-looking statements"). Forward-looking statements normally contain words like 'believe', 'expect', 'anticipate', 'plan', 'intend', 'continue', 'estimate', 'may', 'will', 'should', 'ongoing' and similar expressions, and within this news release include any statements (express or implied) respecting the future growth of the Company, the Company's future financial performance, the level of immigration into Canada and the Company executing on its acquisition strategy. Forward-looking statements are not guarantees of future performance, actions, or developments and are based on expectations, assumptions and other factors that management currently believes are relevant, reasonable and appropriate in the circumstances, including, without limitation, the assumption that the Company is able to meet their respective future objectives and priorities and assumptions concerning general economic growth and the absence of unforeseen changes in the legislative and regulatory framework for the Company. Although management believes that the forward-looking statements are reasonable, actual results could be substantially different due to the risks and uncertainties associated with and inherent to CANPR's business. Material risks and uncertainties applicable to the forward-looking statements set out herein include but are not limited to: intense competition in all aspects of business; reliance on limited management resources; general economic risks; new laws and regulations affecting immigration into various countries and risk of litigation. Although CANPR has attempted to identify factors that may cause actual actions, events or results to differ materially from those disclosed in the forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, predicted, estimated or intended. Also, many of the factors are beyond the control of CANPR . Accordingly, readers should not place undue reliance on forward-looking statements. CANPR undertakes no obligation to reissue or update any forward-looking statements as a result of new information or events after the date hereof except as may be required by law. All forward-looking statements contained in this news release are qualified by this cautionary statement. On Behalf of the Board of Directors:Akshat Soni, Director & Chief Executive OfficerCanPR Technology Ltd. For further information, please contact: CanPR Technology Ltd.90 Burnhamthorpe Road West, Suite 1202Mississauga, OntarioL5B 3C2Telephone: (647)-692-3846Email: info@ About CanPR Technology CanPR Technology Ltd. is a technology platform dedicated to helping immigrants in their journey toward becoming permanent residents of Canada. At CanPR, we offer a range of services to assist with the immigration journey. Our platform provides a comprehensive understanding of the process of immigrating to Canada, completing and tracking immigration applications, connecting newcomers with employers to help them find a job, and post-immigration services to help them settle in Canada. Currently, the platform has over 1,000,000 app installs. For more information on CanPR, visit Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. Not for distribution to United States newswire services or for dissemination in the United States. 1 To view the source version of this press release, please visit Sign in to access your portfolio

Canadians' Support for Counter-Tariffs Dips, but Still Strong, as Trade War Persists
Canadians' Support for Counter-Tariffs Dips, but Still Strong, as Trade War Persists

Yahoo

timean hour ago

  • Yahoo

Canadians' Support for Counter-Tariffs Dips, but Still Strong, as Trade War Persists

(Bloomberg) -- Canadians continue to support retaliating against US President Donald Trump's wave of tariffs, but their fervor has waned as the trade war wears on. Shuttered NY College Has Alumni Fighting Over Its Future Trump's Military Parade Has Washington Bracing for Tanks and Weaponry NYC Renters Brace for Price Hikes After Broker-Fee Ban Do World's Fairs Still Matter? NY Long Island Rail Service Resumes After Grand Central Fire Seven in 10 Canadians still favor counter-tariffs even if they increase the cost of goods imported from the US, according to a poll conducted by Nanos Research Group for Bloomberg News. That's down from almost eight in 10 in January. Sentiment has also shifted, with the percentage of those who 'somewhat support' the measures rising to 29% from 24% at the beginning of the year. Nearly 44% of respondents expressed unqualified support for retaliatory levies, down from 55%. 'Further uncertainty and new tariffs on Canadian goods by the US will reinforce appetite for a Canadian tariff response,' said Nik Nanos, the polling firm's founder. Atlantic Canada was the region that most favored counter-tariffs, with 81% expressing some form of support. The Prairies expressed the least support (67%). The Prairie provinces of Saskatchewan and Alberta recently said they would resume buying and distributing American alcohol to retailers, months after they halted purchases in response to Trump's tariffs. US booze remains banned from government-store shelves in many other provinces, including Ontario. Prime Minister Mark Carney's government scaled back its retaliatory tariffs in April, leaving about 70% of its counter-measures in place. That means Canada currently has 25% levies on about C$42 billion ($31 billion) in imports from the US, plus some tariffs on automobiles. Carney held off on retaliating further in response to Trump's doubling of tariffs on steel and aluminum last week. The prime minister has said he sees progress in trade talks between the US and Canada, but new counter-measures remain an option. Bank of Canada Governor Tiff Macklem said last week that the levies aren't yet having a significant impact on prices. 'The retaliatory tariffs put in place, that is not yet in the consumer price index data that we have,' Macklem said. 'You will see that start to come in the months ahead.' The latest Nanos survey of 1,120 Canadians was conducted by phone and online between June 1 and 3. It's considered accurate within 2.9 percentage points, 19 times out of 20. --With assistance from Erik Hertzberg. American Mid: Hampton Inn's Good-Enough Formula for World Domination New Grads Join Worst Entry-Level Job Market in Years The Spying Scandal Rocking the World of HR Software US Tariffs Threaten to Derail Vietnam's Historic Industrial Boom The SEC Pinned Its Hack on a Few Hapless Day Traders. The Full Story Is Far More Troubling ©2025 Bloomberg L.P. Sign in to access your portfolio

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