Business Development Bank of Canada

Premier Health Secures Debt Financing for its Previously Announced Acquisition

Retrieved on: 
Monday, October 30, 2023
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MONTREAL, Oct. 30, 2023 (GLOBE NEWSWIRE) -- Premier Health of America Inc. (TSXV: PHA) (“Premier Health” or the “Corporation”), a leading Canadian Healthtech company, is announcing a $50 million secured credit package (the “Secured Financing”) aimed at closing the acquisition of Solution Staffing Inc. (the “Transaction”), which was announced on July 4th, 2023, including a refinancing of its current revolving facility and new term loans to finance the Transaction.

Key Points: 
  • MONTREAL, Oct. 30, 2023 (GLOBE NEWSWIRE) -- Premier Health of America Inc. (TSXV: PHA) (“Premier Health” or the “Corporation”), a leading Canadian Healthtech company, is announcing a $50 million secured credit package (the “Secured Financing”) aimed at closing the acquisition of Solution Staffing Inc. (the “Transaction”), which was announced on July 4th, 2023, including a refinancing of its current revolving facility and new term loans to finance the Transaction.
  • The other three loans have fixed rates averaging 14.3%.
  • The Secured Financing is led by the Royal Bank of Canada and BDC Capital Inc., sole affiliate of the Business Development Bank of Canada and is subject to certain conditions precedents, mainly the conclusion of the Transaction and other customary conditions.
  • Collateral security for the Secured Financing will be provided by PHA and its subsidiaries.

Minister Valdez announces $500,000 for the Canadian Council for Aboriginal Business to support Indigenous entrepreneurs

Retrieved on: 
Friday, October 20, 2023
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This means supporting the thousands of Indigenous entrepreneurs and small businesses working to create jobs and opportunity in their communities.

Key Points: 
  • This means supporting the thousands of Indigenous entrepreneurs and small businesses working to create jobs and opportunity in their communities.
  • Today, the Honourable Rechie Valdez, Minister of Small Business, took part in the Canadian Council for Aboriginal Business 's (CCAB) West Coast Business Forum, where she announced $500,000 for the CCAB to help increase the tools and resources Indigenous small business owners and entrepreneurs need to thrive.
  • This funding will help the CCAB promote the 50–30 Challenge, with the goal of increasing Indigenous inclusion in the business space.
  • To further support Indigenous entrepreneurs, Global Affairs Canada released a joint report with the CCAB yesterday: Adàwe: Export experiences of Indigenous entrepreneurs .

BDC Small Business Week™ 44th edition: The annual conversation around small business kicks off today

Retrieved on: 
Tuesday, October 17, 2023
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MONTREAL, Oct. 17, 2023 /CNW/ - The Business Development Bank of Canada (BDC) is today kicking off its 44th edition of Small Business Week (SBW), Canada's entrepreneurship celebration.

Key Points: 
  • MONTREAL, Oct. 17, 2023 /CNW/ - The Business Development Bank of Canada (BDC) is today kicking off its 44th edition of Small Business Week (SBW), Canada's entrepreneurship celebration.
  • Small Business Week is a pan-Canadian forum for entrepreneurs to share their experiences and talk about solutions in dealing with economic uncertainty.
  • BDC is releasing its third report on the issue, entitled The Challenge of a Decade: How to Navigate Canada's Labour shortages .
  • BDC Small Business Week™, Oct. 15-21, is an annual entrepreneurship event that BDC has organized for nearly five decades.

D-BOX Technologies Announces Amendments to Loan Facilities with National Bank of Canada and the Business Development Bank of Canada

Retrieved on: 
Monday, October 16, 2023
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The upsized line of credit will be secured by first-ranking hypothec and security interests on all movable/personal property of the Corporation and its U.S. subsidiary and a guarantee from Export Development Canada.

Key Points: 
  • The upsized line of credit will be secured by first-ranking hypothec and security interests on all movable/personal property of the Corporation and its U.S. subsidiary and a guarantee from Export Development Canada.
  • “A special thank you to the Economic Development Agency of Canada for helping us secure the amendments to our line of credit.
  • The upsizing of our line of credit and the extended maturities on our term loans provide greater flexibility in our treasury management while reducing our financial cost.
  • “We believe in the growth potential of D-BOX as well as in their business strategy, and are pleased to support them in their future projects.”

Minister Valdez kicks off Small Business Week and announces nearly $3 million in funding to support women entrepreneurs across Canada

Retrieved on: 
Monday, October 16, 2023
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That's why it's so important to support Canada's entrepreneurs and small businesses, especially women entrepreneurs, because an inclusive economy is a strong economy.

Key Points: 
  • That's why it's so important to support Canada's entrepreneurs and small businesses, especially women entrepreneurs, because an inclusive economy is a strong economy.
  • Today, the Honourable Rechie Valdez, Minister of Small Business, kicked off Small Business Week 2023 by announcing that the École des entrepreneurs du Québec (EEQ) [French page] is receiving $2.7 million to help women entrepreneurs start a business and put their plans for growth into action.
  • As we enter another Small Business Week, Minister Valdez also highlighted how the Government of Canada is supporting small businesses as they adapt to current challenges like high interest rates and inflation.
  • "I'm happy to kick off Small Business Week 2023 by making such a fitting announcement to support women entrepeneurs alongside the EEQ.

Minister Valdez announces new investments to help diverse entrepreneurs grow their businesses

Retrieved on: 
Wednesday, October 11, 2023
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A second call for expressions of interest for another round of investments of $25 million is ongoing and will close on November 22, 2023.

Key Points: 
  • A second call for expressions of interest for another round of investments of $25 million is ongoing and will close on November 22, 2023.
  • "Supporting inclusive growth in the venture capital sector ensures that entrepreneurs and start-ups led by diverse individuals receive the investments that they historically haven't been granted simply because of their identity.
  • – The Honourable Rechie Valdez, Minister of Small Business
    "For an economy to reach its full potential, everyone needs to participate.
  • BDC, which manages the VCCI, is Canada's most active single VC investor, managing over $4.2 billion in VC investments.

Northstar Hosts Site Opening Event at Empower Calgary Facility

Retrieved on: 
Wednesday, September 27, 2023
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VANCOUVER, BC, Sept. 27, 2023 /PRNewswire/ - Northstar Clean Technologies Inc. (TSXV: ROOF) (OTCQB: ROOOF) ("Northstar") is pleased to announce its site opening event held at the location for the development of its first commercial facility for reprocessing asphalt roofing shingles in Rocky View County in Greater Calgary, Alberta (the "Empower Calgary Facility").

Key Points: 
  • VANCOUVER, BC, Sept. 27, 2023 /PRNewswire/ - Northstar Clean Technologies Inc. (TSXV: ROOF) (OTCQB: ROOOF) ("Northstar") is pleased to announce its site opening event held at the location for the development of its first commercial facility for reprocessing asphalt roofing shingles in Rocky View County in Greater Calgary, Alberta (the "Empower Calgary Facility").
  • Mr. Brad Parry, President & CEO of Calgary Economic Development Corp., stated, "Northstar's choice to locate in the Calgary region strengthens our position as a leading destination for innovative companies.
  • Mr. Aidan Mills, President & CEO and Director of Northstar, stated, "We were excited to welcome representatives from media, government and industry from Greater Calgary and Alberta who attended the opening of our first commercial site, as we prepare for construction to commence at the Empower Calgary Facility.
  • Our vision is to be the leading provider of reprocessing asphalt shingles in North America and the first commercial shingle reprocessing facility in Greater Calgary.

Tucows Inc. Announces New Credit Facility with Bank of Montreal

Retrieved on: 
Tuesday, September 26, 2023
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The new Credit Agreement replaces the existing Third Amended and Restated Credit Agreement with Royal Bank of Canada ("RBC"), with the new Credit Facility set to expire on September 22, 2026, marking the third anniversary of the effective date of the agreement.

Key Points: 
  • The new Credit Agreement replaces the existing Third Amended and Restated Credit Agreement with Royal Bank of Canada ("RBC"), with the new Credit Facility set to expire on September 22, 2026, marking the third anniversary of the effective date of the agreement.
  • Tucows is excited about this strategic partnership with Bank of Montreal and the other members of the syndicate, including TD Bank, Bank of Nova Scotia, CIBC, National Bank of Canada, Business Development Bank of Canada and HSBC Bank Canada.
  • In connection with entering into the Credit Agreement, Tucows has paid off the principal balance, including accrued interest, of the revolving loans outstanding under the Third Amended and Restated Credit Agreement with RBC.
  • For more information, please refer to the Credit Agreement filed in Tucows' 8K on September 25, 2023.

Entrepreneurs are facing a mental health crisis — here's how to help them

Retrieved on: 
Tuesday, September 26, 2023
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These demands can take a significant toll on someone’s mental health.

Key Points: 
  • These demands can take a significant toll on someone’s mental health.
  • Since entrepreneurship is the backbone of economic growth, the importance of mental health support for entrepreneurs cannot be overstated.
  • Recognizing and addressing mental health is not just a matter of compassion, but also an essential investment in society at large.

The ‘founder’s dilemma’

    • Many are drawn to entrepreneurship, but few manage to thrive commercially.
    • Out of financial self-preservation, some founders fall into a cycle of constant fundraising to get them out of debt.
    • The quixotic drive to balance short-term financing with long-term operational excellence can drive any entrepreneur into distress.

Mounting pressure

    • The pressure that startup founders face today is more intense than it has been for two decades.
    • During the first half of 2023, global venture capital funding slid by 48 per cent compared to last year.
    • In this high-interest rate, scarce money, no-exit environment, startup founders are facing a financial and mental health crisis.

Addressing mental health challenges

    • First, outside investors in private ventures need to be qualified not only in terms of net income or net worth, but also on the basis of their commitment to population health in general, and mental health in particular.
    • The pledge aims to de-stigmatize mental health and treat it as a business expense, including therapy, coaching and group support.
    • This strategy can build investor awareness and reduce the stigma surrounding mental health challenges.
    • This would be another important step in the uphill battle to de-stigmatize mental illness and steer founders toward mental health supports.

Canadian Sustainability Standards Board continues its momentum welcoming 3 new members; meets with International Sustainability Standards Board

Retrieved on: 
Thursday, September 14, 2023
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TORONTO, Sept. 14, 2023 /CNW/ - The Canadian Sustainability Standards Board (CSSB) continues its momentum to support the uptake of international sustainability standards in Canada, appointing three new members to expand its geographical representation and breadth of expertise, while continuing to foster its relationship with the International Sustainability Standards Board (ISSB).

Key Points: 
  • TORONTO, Sept. 14, 2023 /CNW/ - The Canadian Sustainability Standards Board (CSSB) continues its momentum to support the uptake of international sustainability standards in Canada, appointing three new members to expand its geographical representation and breadth of expertise, while continuing to foster its relationship with the International Sustainability Standards Board (ISSB).
  • "We are excited to welcome three additional, proven leaders in sustainability to our board.
  • "We are focused on ensuring meaningful engagement with those who are impacted and affected by the first international sustainability standards."
  • Collaboration with Canada's regulatory bodies, which determine the mandatory application rules of standards for Canada's publicly accountable enterprises, will continue.