Latest news with #Quebec-based
San Francisco Chronicle
a day ago
- Business
- San Francisco Chronicle
Dorel Industries: Q2 Earnings Snapshot
WESTMOUNT, Quebec (AP) — WESTMOUNT, Quebec (AP) — Dorel Industries Inc. (DIIBF) on Friday reported a loss of $44.9 million in its second quarter. The Westmount, Quebec-based company said it had a loss of $1.38 per share. Losses, adjusted for restructuring costs, were 65 cents per share. The maker of bicycles, child safety products and home furnishings posted revenue of $292.4 million in the period. _____
Toronto Star
a day ago
- Automotive
- Toronto Star
Tech Update: Feds announce funding for a fleet of promising decarbonization projects
Toronto's garbage trucks are about to become less wasteful. Thanks to a collaboration between the city of Toronto and Quebec-based Effenco, 60 of the city's waste-collection vehicles will be converted into hybrid models — with the aim of eventually transitioning toward a fully electric system. The Repower Project has the potential to dramatically reduce the emissions and fuel consumption of Toronto's waste-collection fleet. It is one of several ambitious initiatives that will receive funding as part of a federal government strategy to decarbonize the transportation sector. Last week, Minister of AI and Digital Innovation Evan Solomon announced plans to distribute $21 million in funding to projects including a low-energy defrosting and defogging system for commercial EV trucks in Oakville, a McMaster University-developed AI-powered tool kit for EV bus optimization and charging for Canadian public transit agencies. The city of Toronto will receive $4.97 million to support the transformation of its garbage truck fleet. The hope is that these investments will help address market barriers and increase adoption of lower-emission medium- to heavy-duty vehicles that are particularly well suited to the Canadian landscape, as Solomon explained in a statement: 'We're enabling homegrown breakthroughs — right here in the GTA and southwestern Ontario — that are driving electric vehicle performance, safety and reliability in uniquely Canadian conditions.'
Cision Canada
31-07-2025
- Business
- Cision Canada
LSL PHARMA GROUP ENTERS INTO NON-BINDING AGREEMENT TO ACQUIRE A QUEBEC-BASED COMPETITOR
Transaction expected to add $8-10 million of revenues, expand capacity and service offering Transaction is highly complementary and will enable significant synergies Closing expected to take place in Q3-25 BOUCHERVILLE, QC, July 31, 2025 /CNW/ - LSL PHARMA GROUP INC. (TSXV: LSL) ("the Company" or "LSL Pharma"), a Canadian integrated pharmaceutical company, is pleased to announce that it has entered into a Letter of Intent ("LOI") to acquire a privately held, Quebec-based competing contract manufacturer specialized in the formulation and production of liquid and semi-solid natural and cosmetic products ("Target Co"). Target Co. and its shareholders are at arm's length with LSL Pharma. Total consideration for the acquisition will range between $3 million and $3.3 million and involves a nominal cash payment as well as assumption of Target Co.'s bank debt (the "Transaction"). The cash portion will be funded by the proceeds from the recently announced bank financing. The Transaction will enable LSL Pharma to realize material gain on acquisition. Once fully integrated, the Transaction is expected to increase LSL Pharma's revenues by more than 20% on an annual basis by contributing $8-10 million to its consolidated revenues. LSL Pharma anticipates closing the Transaction by the end of Q3-2025. Target Co. is based in the province of Quebec, manufactures and packages liquid and semi-solid products for the Canadian and international markets. The acquisition of Target Co. is highly complementary to LSL Pharma's other contract development and manufacturing operations ("CDMO"), and will help strengthen existing client relationships as well as expand capacity and service offering. "Following the highly successful acquisition of Virage Santé and Dermolab Pharma last year, we look forward to executing this additional transaction to further expand our CDMO operations, manufacturing capabilities and customer base as more and more Canadian companies are looking for local solutions to their supply chain requirements," said François Roberge, President and Chief Executive Officer of LSL Pharma. "Target Co. has an excellent reputation as a contract manufacturer. We expect this transaction to be accretive once fully integrated, to generate significant synergies with our existing operations as well as leverage our head office infrastructure", added Mr. Roberge. CAUTION REGARDING FORWARD-LOOKING STATEMENTS The press release may contain forward-looking statements as defined under applicable Canadian securities legislation. Forward-looking statements can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "continue" or similar expressions. Forward-looking statements are based on a number of assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Corporation's ability to control or predict, that could cause actual results or performance to differ materially from those expressed or implied in such forward- looking statements. These risks and uncertainties include, but are not limited to, those identified in the Corporation's filings with Canadian securities regulatory authorities, such as legislative or regulatory developments, increased competition, technological change and general economic conditions. All forward-looking statements made herein should be read in conjunction with such documents. Readers are cautioned not to place undue reliance on forward-looking statements. No assurance can be given that any of the events referred to in the forward-looking statements will transpire, and if any of them do, the actual results, performance or achievements of the Corporation may differ materially from those expressed or implied by the forward-looking statements. All forward-looking statements contained in this press release speak only as of the date of this press release. The Corporation does not undertake to update these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. ABOUT LSL PHARMA GROUP INC. LSL Pharma Group Inc. is a Canadian integrated pharmaceutical company specializing in the development, manufacturing and commercialization of high-quality sterile ophthalmic pharmaceutical products, as well as pharmaceutical, cosmetic and natural health products in solid, semi-solid and liquid dosage forms. Companies forming part of LSL Pharma Group are Steri-Med Pharma Inc., LSL Laboratory Inc., Virage Santé Inc. and Dermolab Pharma Ltd. For further information, please visit our website at SOURCE Groupe LSL PHARMA INC.
Winnipeg Free Press
31-07-2025
- Business
- Winnipeg Free Press
Richardson Wealth agrees to move under iA Financial umbrella for $597M
Richardson Financial Group Limited is selling its wealth management arm to Quebec-based iA Financial Corp. Industry titan iA Financial said it'll purchase RF Capital Group — known as Richardson Wealth — for $597 million. By doing so, it'll add Richardson Wealth's more than $40 billion in assets under administration to its umbrella. Richardson Financial Group announced Monday its intention to vote in favour of the deal. The Winnipeg-based company holds approximately 44 per cent of RF Capital's shares. Public shareholders hold the latter 56 per cent. A vote will occur before year end, according to Dave Brown, chief executive of Richardson Capital Limited, Richardson Financial Group's private equity division. Regulatory approval is also needed. 'This is a very good home for our business,' Brown said. The Quebec firm will continue to operate Richardson Wealth as a standalone company, allowing teams to run their practices independently, Brown added. The Richardson family launched its wealth management subsidiary in 2003. Since then, the branch has grown to more than 900 employees and 23 offices across Canada. According to iA Financial, it has agreed to pay $20 per RF Capital share in cash — 107 per cent more than the closing price of $9.65 on July 25. The transaction includes a $370 million valuation for RF Capital's fully diluted equity and $227 million in financial obligations, including revolving debt and preferred shares. The Quebec business approached RF Capital; the latter company was not up for sale, Brown said. '(iA Financial) brings significant size, and they bring access for our investment advisors to a whole series of products that we wouldn't have had,' Brown said. 'It will be a very good marriage.' The transaction will bring iA Wealth's advisory network assets under administration to about $175 billion, the company's executive vice-president of wealth management said in a news release. The Richardson family is known for its role in Western Canada's grain industry. It established James Richardson & Sons in 1857 and has expanded across sectors including food processing, energy and real estate. Gabrielle PichéReporter Gabrielle Piché reports on business for the Free Press. She interned at the Free Press and worked for its sister outlet, Canstar Community News, before entering the business beat in 2021. Read more about Gabrielle. Every piece of reporting Gabrielle produces is reviewed by an editing team before it is posted online or published in print — part of the Free Press's tradition, since 1872, of producing reliable independent journalism. Read more about Free Press's history and mandate, and learn how our newsroom operates. Our newsroom depends on a growing audience of readers to power our journalism. If you are not a paid reader, please consider becoming a subscriber. Our newsroom depends on its audience of readers to power our journalism. Thank you for your support.
Hamilton Spectator
29-07-2025
- Business
- Hamilton Spectator
Questerre announces definitive agreement to acquire 100% of PX Energy
THIS NEWS RELEASE IS NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES OF AMERICA TO UNITED STATES NEWSWIRE SERVICES OR UNITED STATES PERSONS CALGARY, Alberta, July 29, 2025 (GLOBE NEWSWIRE) — Questerre Energy Corporation ('Questerre' or the 'Company') (TSX,OSE:QEC) is pleased to announce that it has entered into a definitive agreement (the 'Definitive Agreement') to acquire 100% of Parana Xisto SA ('PX Energy'), a privately held shale oil production and refining company based in southern Brazil by way of acquisition of the shares of its indirect parent companies, Forbes & Manhattan Resources Inc. ('F&M Resources') and Forbes Participaҫões Ltda (the 'Acquisition'). 'This acquisition is a rare opportunity for us to gain the expertise and capacity to advance our multi-billion barrel oil shale resource in Jordan(1). I'm very pleased we were able to structure it to ensure the Quebec Assets are not affected by this deal.' said Michael Binnion, President and Chief Executive Officer of Questerre. 'PX Energy has operated for over thirty years using technology developed by Petrobras. We believe the PX Energy platform will also provide us with the operational base, deep expertise, and capital foundation needed to advance the Red Leaf oil shale and biofuel technology to the next stage. We are in active discussions with potential co-investors for up to 50% of this acquisition.' Transaction Highlights Assets acquired : PX Energy currently produces approximately 4,500 boe per day, with a targeted increase to 6,000 boe per day by August 31, 2026, supported by growth capital projects currently underway. Purchase consideration : 65 million common shares of Questerre, structured as follows: Quebec asset spin-out : It is anticipated that Questerre's Quebec-based assets (the 'Quebec Assets') will be transferred into a separate sidecar subsidiary company (the 'Quebec Spin-out'). Questerre anticipates either distributing preferred shares of Questerre or of the new entity to its existing shareholders ahead of the closing of the acquisition of PX Energy in order not to dilute its existing shareholders' position in the Quebec Assets. Closing conditions : Completion of the Acquisition is subject to a number of conditions, including satisfactory due diligence review, board approval, standard regulatory approvals (including acceptance from the Toronto Stock Exchange and Oslo Stock Exchange (collectively, the 'Exchanges')) and third-party approvals including satisfactory waivers by the bond holders and convertible noteholders in favor of Questerre. Where applicable, the proposed Acquisition cannot close until the required shareholder approval is obtained. There can be no assurance that the Acquisition will be completed as proposed or at all. The Company has retained Clarksons Securities AS, a Norwegian based investment banking firm as financial advisor to advise on the existing outstanding debt of PX Energy including US$80 million in senior secured bonds in Forbes Resources Brazil Holding SA (the parent company of PX Energy). The Company is anticipating that a stronger sponsor will be well received by the debt holders and the holders of US$8 million in convertible promissory notes in F&M Resources. Financial information on Forbes Resources Brazil Holding SA is available online at: . Strategic Rationale PX Energy is a vertically integrated refining and shale oil operation with established ESG performance, favorable cost structures, and a strong growth trajectory. Its operations generate US Dollar-linked revenues with Brazil reais-denominated costs, providing robust margin potential in a dynamic macroeconomic environment. The acquisition strengthens Questerre's oil shale footprint and complements its commitment to advancing environmentally responsible hydrocarbon technologies through its investee Red Leaf Resources Inc. About Questerre Energy Corporation Questerre Energy Corporation is a Calgary-based energy technology company focused on the responsible development of oil and gas resources across the Americas. Questerre integrates leading-edge technologies with a disciplined capital strategy to unlock long-term value while maintaining strong environmental and social governance standards. About PX Energy Inc. PX Energy is a Brazilian shale oil and refining company operating since the 1990s. It employs advanced pyrolysis technology, integrates mining and refinery operations, and maintains some of the region's lowest carbon intensity per barrel. With secured offtake agreements and robust infrastructure, PX Energy is a platform for scalable, sustainable energy production. More information about PX Energy is available online at All information contained in this news release with respect to PX Energy was supplied by the F&M Resources, for inclusion herein, without independent review by Questerre, and Questerre and its directors and officers have relied on F&M Resources for any information concerning the PX Energy. For further information, please contact: Questerre Energy Corporation Jason D'Silva, Chief Financial Officer (403) 777-1185 | (403) 777-1578 (FAX) Advisory Regarding Forward-Looking Statements This news release contains certain statements which constitute forward-looking statements or information ('forward-looking statements') within the meaning of applicable securities laws in Canada. Any statements about Questerre's expectations, beliefs, plans, goals, targets, predictions, forecasts, objectives, assumptions, information and statements about possible future events, conditions and results of operations or performance are not historical facts and may be forward-looking. Forward-looking information is often, but not always, made through the use of words or phrases such as 'anticipates', 'aims', 'strives', 'seeks', 'believes', 'can', 'could', 'may', 'predicts', 'potential', 'should', 'will', 'estimates', 'plans', 'mileposts', 'projects', 'continuing', 'ongoing', 'expects', 'intends' and similar words or phrases suggesting future outcomes. Forward-looking information in this news release includes, but is not limited to, statements in respect of: The forward-looking information that may be in this news release is based on current expectations, estimates, projections and assumptions, having regard to the Company's experience and its perception of historical trend which have been used to develop such statements and information, but which may prove to be incorrect, and includes, but is not limited to, expectations, estimates, projections and assumptions relating to: Although Questerre believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because Questerre can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Current conditions, economic and otherwise, render assumptions, although reasonable when made, subject to greater uncertainty. Undue reliance should not be placed on forward-looking information as actual results may differ materially from those expressed or implied by forward-looking information. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including, without limitation, the following risk factors: Additional information regarding some of these risks, expectations or assumptions and other risk factors may be found in the Company's Annual Information Form for the year ended December 31, 2024, and other documents available on the Company's profile at . Readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof and Questerre undertakes no obligations to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. Barrel of oil equivalent ('boe') amounts may be misleading, particularly if used in isolation. A boe conversion ratio has been calculated using a conversion rate of six thousand cubic feet of natural gas to one barrel of oil and the conversion ratio of one barrel to six thousand cubic feet is based on an energy equivalent conversion method application at the burner tip and does not necessarily represent an economic value equivalent at the wellhead. Given that the value ratio based on the current price of crude oil as compared to natural gas is significantly different from the energy equivalent of 6:1, utilizing a conversion on a 6:1 basis may be misleading as an indication of value. This news release is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States or to or for the account or benefit of US persons (as such terms are defined in Regulation S under the United States Securities Act of 1933, as amended (the 'U.S. Securities Act')), absent registration or an exemption from registration. The securities offered have not been and will not be registered under the U.S. Securities Act or any state securities laws and, therefore, may not be offered for sale in the United States, except in transactions exempt from registration under the U.S. Securities Act and applicable state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful. (1) There is no certainty that it will be commercially viable to produce any portion of the resources. In October 2016, Questerre commissioned an independent assessment of its oil shale resources in Jordan (the 'Millcreek Report'). The Millcreek Report was conducted by Millcreek Mining Group, an independent qualified reserves evaluator, as defined by NI 51-101 with an effective date of September 30, 2016. The assessment was prepared in accordance with NI 51-101 and the COGE Handbook. The assessment indicated a best estimate of discovered petroleum initially in place of between 7.8 billion barrels to 12.2 billion barrels. Given the preliminary nature of the Millcreek Report, it does not contain any estimates regarding the timing or cost to obtain commercial development nor has Questerre finalized the specific technology to be used. Please reference the Annual Information Form for the year ended December 31, 2016, and dated March 24, 2017, as filed under the Corporation's profile on .
