Income Tax Act

Mount Logan Capital Inc. Announces Fourth Quarter and Fiscal 2023 Financial Results

Retrieved on: 
木曜日, 3月 14, 2024
Sentinel, NEO, CLO, American Express, Income Tax Act, PwC, Growth, MLC, Insurance, EPS, Business, Acquisition, University, Galaxy Digital, Commerce, TSX, Investment, Silicon, Silicon Valley Bank, Policy, Corporation, Cryptocurrency

TORONTO, March 14, 2024 (GLOBE NEWSWIRE) -- Mount Logan Capital Inc. (NEO: MLC) (the “Company” or “Mount Logan”) announced today its financial results for the fourth quarter and fiscal year ended December 31, 2023. All amounts are stated in United States dollars, unless otherwise indicated. The financial results have been adjusted for the adoption of IFRS 17 Insurance Contracts (“IFRS 17”) which became effective January 1, 2023.

Key Points: 
  • The financial results have been adjusted for the adoption of IFRS 17 Insurance Contracts (“IFRS 17”) which became effective January 1, 2023.
  • Fourth quarter asset management revenues excludes $1.3 million of management fees associated with Mount Logan’s management of the assets of Ability Insurance Company (“Ability”), a wholly-owned subsidiary of the Company, during the fourth quarter of 2023, which increased by 82% as compared to the fourth quarter 2022 of $0.7 million.
  • Ability’s total assets managed by Mount Logan increased to $537.1 million for fiscal 2023, up $200.2 million from fiscal 2022 managed assets of $336.9 million.
  • Adjusted basic EPS was $(0.44) for the 2023 fiscal year, a decrease of $(2.74) from $2.30 for the 2022 fiscal year.

Foremost Lithium Announces Closing of the First Tranche of its Flow-Through and Non-Flow-Through Private Placements for Gross Proceeds of $1.629M

Retrieved on: 
木曜日, 3月 14, 2024
Lithium, Income Tax Act, Offering, Minority, NFT, Regulation, Sale, Acquisition, News, Security (finance), Calendar, Multilateral, Legislation

VANCOUVER, British Columbia, March 13, 2024 (GLOBE NEWSWIRE) -- Foremost Lithium Resource & Technology Ltd. (NASDAQ: FMST) (CSE: FAT) (“Foremost Lithium”, “Foremost” or the “Company”), a North American hard-rock lithium exploration company, announces that further to its press release dated February 13, 2024, on March 13, 2024, it closed the first tranche of its non-brokered private placement (the "Offering") for aggregate gross proceeds of $1,629,267.

Key Points: 
  • The Company also issued 152,941 non-flow-through units (each, a “NFT Unit”) at a subscription price of $3.40 per NFT Unit.
  • Certain insiders of the Company participated in the NFT portion of the Offering, as further described below.
  • The proceeds from the issuance of the NFT Units will be used for working capital and general corporate purposes.
  • This news release is being issued under the early warning provisions of Canadian securities legislation.

ISC Declares Quarterly Dividend

Retrieved on: 
水曜日, 3月 13, 2024
Information Services Corporation, Class A share, TSX, Income Tax Act, Information services, Holding company

REGINA, Saskatchewan, March 12, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of Information Services Corporation (TSX:ISV) (“ISC” or the “Company”) today declared a quarterly cash dividend of $0.23 per Class A Limited Voting Share ("Class A Share").

Key Points: 
  • REGINA, Saskatchewan, March 12, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of Information Services Corporation (TSX:ISV) (“ISC” or the “Company”) today declared a quarterly cash dividend of $0.23 per Class A Limited Voting Share ("Class A Share").
  • The dividend will be paid on or before April 15, 2024 to shareholders of record as of March 31, 2024.
  • The dividend has been designated as an eligible dividend pursuant to the Income Tax Act.
  • An eligible dividend paid to a Canadian resident is entitled to the enhanced dividend tax credit.

CI Financial Corp. Announces Final Results of Substantial Issuer Bid

Retrieved on: 
金曜日, 4月 5, 2024
Asset Management, Professional Services, Finance, Income tax, CI Financial, Share, TSX, CIX, Income Tax Act, Sale, News, Person

CI Financial Corp. (TSX: CIX) (“CI Financial” or the “Corporation”) today announced the final results of its substantial issuer bid (the “Offer”) under which it has purchased for cancellation 4,857,142 of its common shares (the “Shares”) at the purchase price of $17.50 per Share, for an aggregate purchase price of approximately $85 million.

Key Points: 
  • CI Financial Corp. (TSX: CIX) (“CI Financial” or the “Corporation”) today announced the final results of its substantial issuer bid (the “Offer”) under which it has purchased for cancellation 4,857,142 of its common shares (the “Shares”) at the purchase price of $17.50 per Share, for an aggregate purchase price of approximately $85 million.
  • Shares purchased under the Offer represent approximately 3.11% of the issued and outstanding Shares at the time that the Offer was commenced.
  • Based on the final count by Computershare Investor Services Inc., the depositary for the Offer (the “Depositary”), a total of 12,586,530 Shares were properly tendered and not withdrawn.
  • To assist shareholders in determining the Canadian tax consequences of the Offer, CI Financial estimates that for the purposes of the Income Tax Act (Canada), the paid-up capital per Share is approximately $10.7284.

CI Financial Corp. Announces Preliminary Results of Substantial Issuer Bid

Retrieved on: 
水曜日, 4月 3, 2024
Asset Management, Professional Services, Finance, CI Financial, TSX, CIX, Share (finance), Income Tax Act, Letter, System, News, Security (finance)

CI Financial Corp. (TSX: CIX) (“CI Financial” or the “Corporation”) today announced the preliminary results of its substantial issuer bid (the “Offer”), which expired at 5:00 p.m. (Toronto Time) on April 2, 2024.

Key Points: 
  • CI Financial Corp. (TSX: CIX) (“CI Financial” or the “Corporation”) today announced the preliminary results of its substantial issuer bid (the “Offer”), which expired at 5:00 p.m. (Toronto Time) on April 2, 2024.
  • In accordance with the terms of the Offer, CI Financial has informed the Depositary that it is taking up Shares properly tendered to the Offer at the time of expiry, subject to proration (as described below).
  • Based on the preliminary count by the Depositary, CI Financial expects to take up and purchase for cancellation 4,857,142 Shares at the purchase price of $17.50 per Share for an aggregate purchase price of approximately $85 million.
  • Immediately following completion of the Offer, CI Financial anticipates that 151,383,085 Shares will be issued and outstanding.

GFL Environmental Inc. Announces 10% Increase to Quarterly Dividend

Retrieved on: 
木曜日, 4月 4, 2024
GFL, TSX, The Company, Income Tax Act, Holding company

VAUGHAN, ON, April 4, 2024 /PRNewswire/ - GFL Environmental Inc. (NYSE: GFL) (TSX: GFL) ("GFL" or the "Company") today announced that the Board of Directors of the Company has declared a 10% increase to the regular quarterly cash dividend on the Company's subordinate voting and multiple voting shares.

Key Points: 
  • VAUGHAN, ON, April 4, 2024 /PRNewswire/ - GFL Environmental Inc. (NYSE: GFL) (TSX: GFL) ("GFL" or the "Company") today announced that the Board of Directors of the Company has declared a 10% increase to the regular quarterly cash dividend on the Company's subordinate voting and multiple voting shares.
  • The regular quarterly cash dividend, which increases from US$0.013 per share to US$0.014 per share, will be paid on April 30, 2024 to shareholders of record at the close of business on April 15, 2024.
  • The Company has designated this dividend as an eligible dividend within the meaning of the Income Tax Act (Canada).

Enforcement notification - Tax evasion - Fugitive Brampton tax preparer caught and jailed for $34 million fraudulent charitable donation scheme

Retrieved on: 
金曜日, 3月 22, 2024
Tax, Organization, Income Tax Act, Criminal code, Name, CRA, Canada Revenue Agency, The Criminal Code, Justice, Fraud

Bayden was a partner in a tax preparation business known as E & F Tax Associates or as Bankay Financial Services Inc. in Toronto, Ontario, and later in Brampton.

Key Points: 
  • Bayden was a partner in a tax preparation business known as E & F Tax Associates or as Bankay Financial Services Inc. in Toronto, Ontario, and later in Brampton.
  • Bayden then provided his clients with false charitable donation receipts in the names of various charitable organizations to which he was connected.
  • Bayden charged his clients approximately 10% of the face value of the false charitable donation amounts that were claimed.
  • The CRA has set up a free subscription service to help Canadians stay current on the CRA's enforcement efforts.

LIFT ANNOUNCES MARKETED PUBLIC OFFERING

Retrieved on: 
月曜日, 3月 18, 2024
Lithium, Income Tax Act, Public, Private, TSX Venture Exchange, Public offering, Sale, Regulation, WIRE, News, NOT, Person, Prospectus, Agent, NEWS, Security (finance)

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

Key Points: 
  • /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
    VANCOUVER, BC, March 18, 2024 /CNW/ - Li-FT Power Ltd. ("LIFT" or the "Company") (TSXV: LIFT) (OTCQX: LIFFF) (Frankfurt: WS0) is pleased to announce that it has commenced a marketed best efforts public offering (the "Public Offering") of up to 1,179,500 common shares of the Company that will qualify as "flow-through shares" (within the meaning of subsection 66(15) of the Income Tax Act (Canada)) (the "Flow-Through Shares") at a price of $6.05 per Flow-Through Share (the "Offering Price") for aggregate gross proceeds of up to $7,135,975.
  • The Public Offering is being conducted through a syndicate of agents led by Canaccord Genuity Corp. (collectively, the "Agents").
  • The Public Offering will be conducted pursuant to the Company's Canadian base shelf prospectus dated December 22, 2023 (the "Base Shelf Prospectus").
  • The Public Offering and the Non-Brokered Offering are subject to the satisfaction of certain conditions, including receipt of all applicable regulatory approvals including the approval of the TSX Venture Exchange.

Cosa Resources Closes C$6.5 Million Private Placement

Retrieved on: 
火曜日, 3月 5, 2024
TSX Venture Exchange, Person, Income Tax Act, News, Sale, Warrant, Multilateral, PI, CQS, Share (finance), Charity, Acceleration, LLP, Athabasca Basin, Minority, Unit, Offering, Security (finance)

Vancouver, British Columbia--(Newsfile Corp. - March 5, 2024) - Cosa Resources Corp. (TSXV: COSA) (OTCQB: COSAF) (FSE: SSKU) ("Cosa" or the "Company") is pleased to announce that it has closed the brokered private placement previously announced by the Company on February 12, 2024, as upsized on February 13, 2024, for aggregate gross proceeds of C$6,500,816 (the "Offering").

Key Points: 
  • Vancouver, British Columbia--(Newsfile Corp. - March 5, 2024) - Cosa Resources Corp. (TSXV: COSA) (OTCQB: COSAF) (FSE: SSKU) ("Cosa" or the "Company") is pleased to announce that it has closed the brokered private placement previously announced by the Company on February 12, 2024, as upsized on February 13, 2024, for aggregate gross proceeds of C$6,500,816 (the "Offering").
  • The Offering was completed through a syndicate of underwriters, led by Haywood Securities Inc. and including PI Financial Corp. (collectively, the "Underwriters").
  • All Qualifying Expenditures will be renounced in favour of the subscribers of the Charity FT Units effective December 31, 2024.
  • Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

EV Nickel Announces Pro-rata Participation by Strategic Investor and Upsize to Private Placement

Retrieved on: 
金曜日, 3月 8, 2024
The Company, Income Tax Act, News, Corporation, Exercise, Offering

TORONTO, March 08, 2024 (GLOBE NEWSWIRE) -- EV NICKEL INC. (TSX-V: EVNI) ("EVNi" or the "Company") is pleased to announce that, further to its press release dated March 4, 2024, the Company has upsized its previously announced private placement of flow-through common shares from $3,500,000 to $5,119,750 (the "Offering").

Key Points: 
  • The Offering will be comprised of: (i) up to 1,705,000 premium flow-through common shares (each a "Premium Flow-Through Share"), at a price per Premium Flow-Through Share of $0.95, for aggregate gross proceeds of up to $1,619,750; and, (ii) up to 4,666,667 flow-through common shares (each a "Flow-Through Share"), at a price per Flow-Through Share of $0.75, for aggregate gross proceeds of up to $3,500,000.
  • The upsize in the Offering is a result of one of the Company's strategic investors electing to exercise its right to maintain its pro-rata interest in the Company as set out in the investor rights agreement between the Company and the strategic investor.
  • See the Company's press release dated September 14, 2023 for further details with respect to the investor rights agreement.
  • The Premium Flow-Through Shares and the Flow-Through Shares will qualify as "flow-through shares" (within the meaning of subsection 66(15) of the Income Tax Act (Canada)).