The special-purpose acquisition company, newly incorporated in B.C., intends to acquire “businesses or assets involved in the shift away from fossil fuels to green energy and related industries and commodities,” with an estimated value between $500 million and $1 billion, according to its preliminary prospectus. (The Logic)

Talking point: Though they soared in popularity in the U.S. last year, leading to an SEC crackdown, north of the border SPACs remain relatively rare. Michael Shuh of Canaccord Genuity, which has been the top arranger of SPACs and traditional IPOs for the past two years, has said that’s because in Canada traditional IPOs are “working, and the markets are rewarding them.” Osisko Green Sponsor Corp., a wholly owned subsidiary of Osisko Mining Inc., is the SPAC’s sponsor, and it will be led by executives from other Osisko companies, according to the prospectus. The company did not immediately respond to a request for comment. TSX-V-listed Queen’s Road Capital announced it will be one of the initial investors, and Eight Capital is the lead underwriter of a to-be-determined syndicate. U.S.-based SPACs have been a popular vehicle for cleantech companies, including Canadian hopefuls Lion Electric and Li-Cycle. The Osisko SPAC will have 18 months to make its acquisitions.