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Media advisory - Minister Joly and Petrina Gentile to discuss the future of the Canadian auto industry at the 2025 Canada Automotive Summit

Cision Canada4 hours ago

VAUGHAN, ON, June 9, 2025 /CNW/ - The Honourable Mélanie Joly, Minister of Industry and Minister responsible for Canada Economic Development for Quebec Regions, will be participating in a discussion with Petrina Gentile, automotive reporter with The Globe and Mail, at the 2025 Canada Automotive Summit.
Minister Joly will take part in a media scrum following the discussion.
Date: Tuesday, June 10, 2025
Time: 4:00 p.m. (ET) fireside chat
4:45 p.m. (ET) media scrum
Location: Vaughan, Ontario
Members of the media are asked to contact ISED Media Relations at [email protected] to receive event location details and confirm their attendance.
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Bell Announces Upsizing and Results of its Cash Tender Offers for Four Series of Debt Securities Français
Bell Announces Upsizing and Results of its Cash Tender Offers for Four Series of Debt Securities Français

Cision Canada

time24 minutes ago

  • Cision Canada

Bell Announces Upsizing and Results of its Cash Tender Offers for Four Series of Debt Securities Français

This news release contains forward-looking statements. For a description of the related risk factors and assumptions, please see the section entitled "Caution Concerning Forward-Looking Statements" later in this news release. MONTRÉAL, June 9, 2025 /CNW/ - Bell Canada ("Bell" or the "Company") today announced (i) the release of the results of its previously announced separate offers (the "Offers") to purchase for cash the outstanding debentures of the series listed in the table below (collectively, the "Debentures") and (ii) that it has amended the Offers by increasing the Maximum Purchase Amount from C$500,000,000 in aggregate purchase price, excluding accrued and unpaid interest, to an aggregate amount necessary to repurchase all tendered C$35,487,000 principal amount of the 3.50% MTN Debentures Series M-51 due 2050, all tendered C$460,285,200 principal amount of the 4.05% MTN Debentures Series M-55 due 2051, C$105,000,000 principal amount of the 4.35% MTN Debentures Series M-39 due 2045, and C$100,000,000 principal amount of the 4.45% MTN Debentures Series M-45 due 2047; excluding accrued and unpaid interest. The Offers The Offers were made upon the terms and subject to the conditions set forth in the Offer to Purchase dated June 2, 2025 relating to the Debentures (the "Offer to Purchase"). The Debentures are unconditionally guaranteed as to payment of principal, interest and other obligations by BCE Inc. ("BCE"), Bell Canada's parent company. Capitalized terms used but not defined in this news release have the meanings given to them in the Offer to Purchase. According to information provided by TSX Trust Company, the Tender Agent, C$1,240,233,200 combined aggregate principal amount of the Debentures were validly tendered in connection with the Offers prior to or at 5:00 p.m. (Eastern time) on June 9, 2025 (the "Expiration Date") and not validly withdrawn. The table below provides certain information about the Offers, including the aggregate principal amount of each series of Debentures validly tendered and not validly withdrawn prior to the Expiration Date. Title of Debentures (1) Principal Amount Outstanding CUSIP / ISIN Nos. (1) Reference Security (2) Bloomberg Reference Page (2) Fixed Spread (Basis Points) (2) Principal Amount Tendered Indicative Acceptance Amount 3.50% MTN Debentures Series M-51 due 2050 C$119,063,000 07813ZCD4 / CA07813ZCD48 CAN 2 ¾ 12/01/55 FIT CAN0-50 165 C$35,487,000 C$35,487,000 4.05% MTN Debentures Series M-55 due 2051 C$550,000,000 07813ZCH5 / CA07813ZCH51 CAN 2 ¾ 12/01/55 FIT CAN0-50 150 C$460,285,200 C$460,285,200 4.35% MTN Debentures Series M-39 due 2045 C$500,000,000 07813ZBR4 / CA07813ZBR43 CAN 2 ¾ 12/01/55 FIT CAN0-50 160 C$380,712,000 C$105,000,000 4.45% MTN Debentures Series M-45 due 2047 C$500,000,000 07813ZBX1 / CA07813ZBX11 CAN 2 ¾ 12/01/55 FIT CAN0-50 160 C$363,749,000 C$100,000,000 (1) No representation is made by the Company as to the correctness or accuracy of the CUSIP numbers or ISINs listed in this news release or printed on the Debentures. They are provided solely for convenience. (2) The total consideration for each series of Debentures (such consideration, the "Total Consideration") payable per each C$1,000 principal amount of such series of Debentures validly tendered and accepted for purchase will be based on the applicable Fixed Spread specified in the table above for such series of Debentures, plus the applicable yield based on the bid-side price of the applicable Canadian reference security as specified in the table above, as quoted on the applicable Bloomberg Reference Page as of 11:00 a.m. (Eastern time) on June 10, 2025, unless extended by the Company with respect to the applicable Offer. The Total Consideration does not include the applicable Accrued Coupon Payment, which will be payable in cash in addition to the applicable Total Consideration. Indicative Series Acceptance Amounts The Company expects to accept for purchase C$35,487,000 in aggregate principal amount of the 3.50% MTN Debentures Series M-51 due 2050, C$460,285,200 in aggregate principal amount of the 4.05% MTN Debentures Series M-55 due 2051, C$105,000,000 in aggregate principal amount of the 4.35% MTN Debentures Series M-39 due 2045 and C$100,000,000 in aggregate principal amount of the 4.45% MTN Debentures Series M-45 due 2047 tendered into the Offer for such Debentures, on a pro rata basis within the 4.35% MTN Debentures Series M-39 due 2045 and the 4.45% MTN Debentures Series M-45 due 2047, with the actual amount accepted to be adjusted for rounding due to proration. Pricing and Settlement Pricing in respect of the Debentures is expected to occur at 11:00 a.m. (Eastern time) on June 10, 2025, following which the Final Acceptance Amount, the Offer Yield and the Total Consideration in respect of the Debentures validly tendered and accepted for purchase pursuant to the Offers will be announced by the Company. The "Settlement Date" in respect of any Debentures validly tendered and accepted for purchase pursuant to the Offer for such Debentures is expected to be June 12, 2025. The Company will also pay an Accrued Coupon Payment in respect of Debentures validly tendered and accepted for purchase pursuant to the Offer for such Debentures. Holders whose Debentures are accepted for purchase will lose all rights as Holder of the tendered Debentures and interest will cease to accrue on the Settlement Date for all Debentures accepted in the Offer for such Debentures. The Company has retained CIBC World Markets Inc. ("CIBC"), RBC Dominion Securities Inc. ("RBC"), Scotia Capital Inc. ("Scotia") and TD Securities Inc. ("TD") to act as lead dealer managers, and BMO Nesbitt Burns Inc., Merrill Lynch Canada Inc., Desjardins Securities Inc., National Bank Financial Inc., Citigroup Global Markets Canada Inc., Wells Fargo Securities Canada, Ltd., Mizuho Securities Canada Inc., SMBC Nikko Securities Canada, Ltd. and Barclays Capital Canada Inc. to act as co-dealer managers (collectively, the "Dealer Managers") for the Offers. Questions regarding the terms and conditions for the Offers or for copies of the Offer to Purchase should be directed to CIBC at 416.594.8515, RBC at 1.877.381.2099 (toll-free) or 416.842.6311 (collect), Scotia at 416.863.7438 or TD at 1.866.584.2096 (toll-free) or 416.982.6451 (collect). You may also contact your broker, dealer, commercial bank, trust company or other nominee for assistance concerning the Offers. If the Company terminates any Offer with respect to one or more series of Debentures, it will give prompt notice to the Tender Agent, and all Debentures tendered pursuant to such terminated Offer will be returned promptly to the tendering Holders thereof. With effect from such termination, any Debentures blocked in CDS will be released. Offer and Distribution Restrictions The Offers were made solely pursuant to the Offer to Purchase. This news release does not constitute a solicitation of an offer to buy any securities in the United States. No Offer constitutes an offer or an invitation by, or on behalf of, BCE, the Company or the Dealer Managers (i) to participate in the Offers in the United States; (ii) to, or for the account or benefit of, any "U.S. person" (as such term is defined in Regulation S of the U.S. Securities Act of 1933, as amended); or (iii) to participate in the Offers in any jurisdiction in which it is unlawful to make such an offer or solicitation in such jurisdiction, and such persons are not eligible to participate in or tender any securities pursuant to the Offers. No action has been or will be taken in the United States or any other jurisdiction that would permit the possession, circulation or distribution of this news release, the Offer to Purchase or any other offering material or advertisements in connection with the Offers to (i) any person in the United States; (ii) any U.S. person; (iii) anyone in any other jurisdiction in which such offer or solicitation is not authorized; or (iv) any person to whom it is unlawful to make such offer or solicitation. Accordingly, neither this news release, the Offer to Purchase nor any other offering material or advertisements in connection with the Offers may be distributed or published, in or from the United States or any such other jurisdiction (except in compliance with any applicable rules or regulations of such other jurisdiction). Tenders will not be accepted from any holder located or resident in the United States. In any jurisdiction in which the securities laws require the Offers to be made by a licensed broker or dealer, the Offers will be deemed to have been made on behalf of the Company by the Dealer Managers or one or more registered brokers or dealers that are licensed under the laws of such jurisdiction. This news release is for informational purposes only. This news release is not an offer to purchase or a solicitation of an offer to sell any Debentures or any other securities of BCE, the Company or any of their subsidiaries. Caution Concerning Forward-Looking Statements Certain statements made in this news release are forward-looking statements, including, but not limited to, statements regarding the terms and timing for completion of the Offers. All such forward-looking statements are made pursuant to the "safe harbour" provisions of applicable Canadian securities laws and of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements, by their very nature, are subject to inherent risks and uncertainties and are based on several assumptions, both general and specific, which give rise to the possibility that actual results or events could differ materially from our expectations expressed in or implied by such forward-looking statements. These statements are not guarantees of future performance or events and we caution you against relying on any of these forward-looking statements. The forward-looking statements contained in this news release describe our expectations at the date of this news release and, accordingly, are subject to change after such date. Except as may be required by applicable securities laws, we do not undertake any obligation to update or revise any forward-looking statements contained in this news release, whether as a result of new information, future events or otherwise. Forward-looking statements are provided herein for the purpose of giving information about the proposed Offers referred to above. Readers are cautioned that such information may not be appropriate for other purposes. About Bell Bell is Canada's largest communications company 1, providing advanced broadband Internet, wireless, TV, media and business communication services. Founded in Montréal in 1880, Bell is wholly owned by BCE. To learn more, please visit or Through Bell for Better we are investing to create a better today and a better tomorrow by supporting the social and economic prosperity of our communities. This includes the Bell Let's Talk initiative, which promotes Canadian mental health with national awareness and anti-stigma campaigns like Bell Let's Talk Day and significant Bell funding of community care and access, research and workplace leadership initiatives throughout the country. To learn more, please visit

Canada's innovation policies need overhaul to boost economy, experts say
Canada's innovation policies need overhaul to boost economy, experts say

Globe and Mail

time2 hours ago

  • Globe and Mail

Canada's innovation policies need overhaul to boost economy, experts say

Canada's outdated innovation policies are causing a loss of economic sovereignty amid critical shifts in global trade relations and the knowledge-based economy, experts say. While Canada continues to lead globally in education and research, innovation experts say the country's inability to plan past that phase is costing it hundreds of billions of dollars every year in data and intellectual property ownership. And with the United States-Mexico-Canada Agreement up for review in 2026, they argue the federal government should arrive at negotiations with a Canada-first approach. Speaking Monday at the Intersect conference at the Fairmont Royal York hotel in Toronto, Jim Balsillie, former co-CEO of Research In Motion Ltd., said Canada needs to have an offensive strategy heading into USMCA negotiations. 'The most important thing is to learn how the economy works, know that the agreement isn't worth the paper it's printed on,' said Mr. Balsillie, who is also a co-founder and chair of the Canadian Council of Innovators. Under the Trump administration, the U.S. is leading a shift in global economic policy to become more aggressive and transactional, Mr. Balsillie said. This, added to the emergence in recent decades of a new, knowledge-based economy, has heightened the need for governments to defend their industries and IP. Yet Canada continues to fall behind. Canada has 'ambition deficit' and regulations that are scaring away investment, Sabia says CIBC CEO says Canada needs to be on 'wartime footing' to bolster productivity 'We've got this funny disease where everybody helps their companies, but we don't help ours. In fact, we subvert them,' he said, pointing to sticking points such as the highly controversial capital gains tax increase or the federal government's investments in foreign companies. Mr. Balsillie also addressed Ottawa's claim that eliminating interprovincial trade barriers will add as much as $200-billion to the economy, calling it a 'myth' and a 'distraction.' 'The most meaningful barriers were addressed long ago. Clinging to this narrative distracts from creating serious national economic strategy,' he said. Dan Breznitz, the Munk chair of innovation studies at the University of Toronto, touted the country's investments in fundamental research for technology such as artificial intelligence as world leading. But that's where it stops, he said. When it comes time for companies to scale up and commercialize their research, they, unsurprisingly, go elsewhere. 'We just assumed that, somehow, because we have educated people and ideas, magic will happen in the market,' Prof. Breznitz said. 'Instead people do the rational thing: They look around and they say, 'It's almost impossible to do it in Canada.'' On Monday morning, while Prof. Breznitz was addressing the crowd at the Fairmont, Prime Minister Mark Carney announced he would ensure that Canada hits NATO's target to spend 2 per cent of GDP on defence this fiscal year. Prof. Breznitz said that's important – but not the kind of transformational policy Canada needs right now, after 20 years of slowly declining GDP numbers. 'We've got a prime minister that basically tells us right now, that if he will bring us back to that moment of slow decline, it will be the biggest transformation. I'm worried,' he said. Canada needs to gain strategic control of its talent and research, he said. It needs to figure out how to capitalize on its valuable industries, such as critical minerals, and engage and invest in its own technology. 'It is not okay that we are the lowest, by far, in the G7 in buying and engaging with new technology,' he said. Ultimately, Mr. Balsillie said, Canada's progress hinges on its ability to bring in and listen to new voices within its policymaking spaces who will help it adapt to the modern economy. 'The issue isn't only new ideas. It's escaping old ideas.'

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