Investment Canada Act

Statement - Canada strengthens guidelines on foreign investments in the interactive digital media sector

Retrieved on: 
Friday, March 1, 2024

Interactive digital media are one of the largest forms of entertainment, and they also have important applications in learning and education.

Key Points: 
  • Interactive digital media are one of the largest forms of entertainment, and they also have important applications in learning and education.
  • These technologies are at the heart of a thriving domestic industry that has gained international recognition and attracted foreign investment.
  • "While Canada continues to welcome foreign direct investments that support the growth of the sector, the Government of Canada recognizes that hostile state-sponsored or state-influenced actors may try to leverage foreign investments in the interactive digital media sector to spread disinformation and manipulate information.
  • To this end, the government is providing additional direction on the application of the Investment Canada Act for investments involving interactive digital media.

Tricon Residential Announces Receipt of Interim Order for Proposed Take Private by Blackstone Real Estate and Provides Details of Special Meeting

Retrieved on: 
Friday, February 16, 2024

The Interim Order authorizes the calling and holding of a special meeting on March 28, 2024 (the “Special Meeting”) of the holders of Common Shares (the “Company Shareholders”), the granting of dissent rights to registered Company Shareholders, and other matters relating to the conduct of the Special Meeting.

Key Points: 
  • The Interim Order authorizes the calling and holding of a special meeting on March 28, 2024 (the “Special Meeting”) of the holders of Common Shares (the “Company Shareholders”), the granting of dissent rights to registered Company Shareholders, and other matters relating to the conduct of the Special Meeting.
  • The Interim Order authorizes and orders that the Special Meeting be held on Thursday, March 28, 2024 at 10:00 a.m. (Toronto time) in virtual-only format via live audio webcast, including any adjournments or postponements thereof.
  • Details of the Special Meeting and how Company Shareholders or their duly appointed proxyholders can attend, access, participate in and vote at the Special Meeting are set out in the Circular.
  • Registered Company Shareholders and duly appointed proxyholders will be able to attend, participate and vote at the Special Meeting online.

Playmaker Capital Inc. Obtains Heritage Approval and Final Order for Arrangement with Better Collective

Retrieved on: 
Wednesday, January 31, 2024

Playmaker Capital Inc. (TSX-V: PMKR) (“Playmaker” or the “Company”), the digital sports media company that delivers authentic content experiences through its portfolio of sports media brands, is pleased to announce that it has received approval from the Minister of Canadian Heritage under the Investment Canada Act (the “Heritage Approval”) with respect to its previously announced plan of arrangement under the Business Corporations Act (Ontario) (the “Arrangement”), pursuant to which Better Collective A/S (“Better Collective”) has agreed to acquire all of Playmaker’s issued and outstanding common shares.

Key Points: 
  • Playmaker Capital Inc. (TSX-V: PMKR) (“Playmaker” or the “Company”), the digital sports media company that delivers authentic content experiences through its portfolio of sports media brands, is pleased to announce that it has received approval from the Minister of Canadian Heritage under the Investment Canada Act (the “Heritage Approval”) with respect to its previously announced plan of arrangement under the Business Corporations Act (Ontario) (the “Arrangement”), pursuant to which Better Collective A/S (“Better Collective”) has agreed to acquire all of Playmaker’s issued and outstanding common shares.
  • Playmaker is also pleased to announce that the Ontario Superior Court (Commercial List) issued a final order approving the Arrangement on January 24, 2024 (the “Final Order”).
  • Following receipt of Heritage Approval and the Final Order, all conditions to closing of the Arrangement, as contained in the arrangement agreement between Playmaker and Better Collective dated November 6, 2023, as amended on December 8, 2023 (the “Arrangement Agreement”) have been satisfied or waived, save for those conditions to be satisfied as part of the closing process.
  • The Arrangement is expected to close on February 6, 2024.

Blackstone Real Estate to Take Tricon Residential Private

Retrieved on: 
Friday, January 19, 2024

Blackstone (NYSE: BX) and Tricon Residential Inc. (NYSE: TCN, TSX: TCN) (“Tricon” or the “Company”) today announced that they have entered into an arrangement agreement (the “Arrangement Agreement”) under which Blackstone Real Estate Partners X together with Blackstone Real Estate Income Trust, Inc. (“BREIT”) will acquire all outstanding common shares of Tricon (“Common Shares”) for $11.25 (approximately C$15.17) per Common Share in cash (the “Transaction”).

Key Points: 
  • Blackstone (NYSE: BX) and Tricon Residential Inc. (NYSE: TCN, TSX: TCN) (“Tricon” or the “Company”) today announced that they have entered into an arrangement agreement (the “Arrangement Agreement”) under which Blackstone Real Estate Partners X together with Blackstone Real Estate Income Trust, Inc. (“BREIT”) will acquire all outstanding common shares of Tricon (“Common Shares”) for $11.25 (approximately C$15.17) per Common Share in cash (the “Transaction”).
  • Tricon serves communities in high-growth markets such as Atlanta, Charlotte, Dallas, Tampa and Phoenix as well as Toronto, Canada.
  • “Tricon provides access to high-quality housing, and we are fully committed to delivering an exceptional resident experience together,” said Nadeem Meghji, Global Co-Head of Blackstone Real Estate.
  • In certain circumstances, Blackstone is required to pay a $526,000,000 reverse termination fee to Tricon upon the termination of the Arrangement Agreement.

Solaris Announces $130 Million Strategic Investment by Zijin Mining Group

Retrieved on: 
Thursday, January 11, 2024

Zijin will invest approximately $130 million by way of a Private Placement of Common Shares.

Key Points: 
  • Zijin will invest approximately $130 million by way of a Private Placement of Common Shares.
  • Upon closing of the Private Placement, Zijin will own approximately 15% of the Common Shares on a fully diluted basis.
  • Mr. Daniel Earle, President & CEO, commented: “Zijin is one of the most successful major mining companies in the world.
  • China International Capital Corporation Hong Kong Securities Limited and Minmetals Securities Co., Ltd acted as Solaris’ transactional advisors in connection with the Private Placement.

Playmaker Capital Mails Management Information Circular for Special Meeting of Shareholders

Retrieved on: 
Friday, December 22, 2023

Company Shareholders of record as of the close of business on December 11, 2023 are entitled to receive notice and vote at the Meeting.

Key Points: 
  • Company Shareholders of record as of the close of business on December 11, 2023 are entitled to receive notice and vote at the Meeting.
  • The Circular provides important information on the Arrangement and related matters, including voting procedures and instructions for shareholders unable to attend the Meeting.
  • Readers are cautioned that undue reliance should not be placed on forward-looking information as actual results may vary materially from the forward-looking information.
  • Playmaker does not undertake to update, correct or revise any forward-looking information as a result of any new information, future events or otherwise, except as may be required by applicable law.

Playmaker Capital Inc. Enters Into Definitive Agreement to Be Acquired by Better Collective

Retrieved on: 
Monday, November 6, 2023

Under the terms of the Agreement, Playmaker shareholders will receive CAD$0.70 (the “Consideration”) for each Playmaker common share held (the “Common Shares”).

Key Points: 
  • Under the terms of the Agreement, Playmaker shareholders will receive CAD$0.70 (the “Consideration”) for each Playmaker common share held (the “Common Shares”).
  • Today’s announcement does exactly that, and I could not be more excited for the Playmaker family to join the Better Collective family.
  • Each of Playmaker and Better Collective will benefit from enhanced scale and greater levels of product, technology and marketing investments.
  • The Transaction will enhance overall product, geographic and demographic diversification and reach for each of Better Collective and Playmaker.

TECPETROL PROVIDES AN UPDATE REGARDING ITS OFFER TO ACQUIRE ALPHA LITHIUM CORPORATION

Retrieved on: 
Monday, June 19, 2023

("Tecpetrol"), a member of the Techint Group, today announced the following updates to shareholders of Alpha Lithium Corporation ("Alpha") with respect to its offer (the "Offer") to acquire all of the issued and outstanding common shares of Alpha, a Canadian incorporated, headquartered and listed company.

Key Points: 
  • ("Tecpetrol"), a member of the Techint Group, today announced the following updates to shareholders of Alpha Lithium Corporation ("Alpha") with respect to its offer (the "Offer") to acquire all of the issued and outstanding common shares of Alpha, a Canadian incorporated, headquartered and listed company.
  • Tecpetrol remains open to engaging in dialogue with Alpha with a view to increasing the offer price.
  • Tecpetrol also announced today that it has filed a notification pursuant to Part III of the Investment Canada Act in respect of its Offer.
  • Tecpetrol encourages Alpha shareholders to read the full details of the Offer and other important information set forth in the Offer and Circular and related documents, including instructions on how Alpha shareholders can tender their Alpha shares under the Offer.

TECPETROL ANNOUNCES INTENTION TO MAKE ALL-CASH TAKE-OVER BID DIRECTLY TO SHAREHOLDERS OF ALPHA LITHIUM CORPORATION

Retrieved on: 
Friday, June 2, 2023

Tecpetrol intends to make the Offer directly to Alpha shareholders so that they can determine the outcome of their investment.

Key Points: 
  • Tecpetrol intends to make the Offer directly to Alpha shareholders so that they can determine the outcome of their investment.
  • Tecpetrol believes the significant benefits of the Offer include, among others:
    Attractive Cash Payment and Immediate Liquidity to Shareholders Through De-Risked Transaction.
  • Tecpetrol is contemplating an acquisition of Shares directly from Alpha shareholders, which Tecpetrol expects will be more tax-efficient for shareholders than a distribution following an asset sale.
  • Accordingly, in light of Alpha's repeated refusal to engage constructively in discussions with Tecpetrol to increase the Offer Price, Tecpetrol intends to proceed directly with the Offer to Alpha shareholders.

BlackBerry Announces New Patent Sale Transaction with Leading Patent Monetization Company for Up to $900 Million

Retrieved on: 
Tuesday, March 21, 2023

WATERLOO, ON, March 21, 2023 /PRNewswire/ -- BlackBerry Limited (NYSE: BB; TSX: BB) announced today that it has entered into an agreement to sell substantially all of its non-core patents and patent applications to Malikie Innovations Limited ("Malikie"), a newly-formed subsidiary of Key Patent Innovations Limited ("KPI"), a leading intellectual property monetization company, for a combination of cash at closing and potential future royalties in the aggregate amount of up to $900 million.

Key Points: 
  • Funding has been secured from a leading US-based investment firm, with in excess of $30 billion of assets under management.
  • "We're extremely pleased to have executed this agreement with KPI, whose industry-leading expertise and experience positions them well to realize the patent portfolio's potential and enhance returns for BlackBerry," said John Chen, Executive Chairman & CEO, BlackBerry.
  • "This transaction, once complete, will further strengthen our balance sheet while simplifying our business and enabling increased focus on our core IoT and Cybersecurity opportunities."
  • Under the terms of the agreement, BlackBerry will receive $170 million in cash on closing and an additional $30 million in cash by no later than the third anniversary of closing.