Wade Barnes, who founded the company in 2005, has stepped aside as its board seeks a replacement, according to a statement Friday after markets closed. The company separately announced a new $75-million credit facility with majority shareholder Fairfax Equity Holdings for “general corporate purposes.” (The Logic)

Talking point: Shares in the Winnipeg-based company, whose software allows farmers to track relevant data like soil-moisture levels, opened 18 per cent lower Monday morning, before paring losses to close down more than 11 per cent to $2.60. Farmers Edge’s stock is down nearly 85 per cent from a year ago, when it was trading around $18 per share. It marks the continued decline for a startup that went public last year amid widespread enthusiasm for Canadian tech companies, and follows several dismal quarterly earnings results as the company seeks to cut costs in order to compete with industry giants like John Deere.