The society is investing up to $10 million to the Cancer Breakthrough Fund. The investment vehicle is managed by life sciences firm Lumira Ventures and launched in partnership with the Terry Fox Foundation. It has raised $30 million to date, with a $50 million target. (The Logic)
The Stay Free Alberta petitioners say they dropped more than 300,000 signatures off at Elections Alberta in support of a secession vote—well over the 177,732 threshold needed to prompt a referendum question. (The Logic)
The e-commerce company reported a first-quarter net loss of US$581 million, an improvement from US$682 million in the same quarter last year, while its revenue jumped 34 per cent. (The Logic)
Susan Hawkins, CEO of the non-profit organization in charge of Canada’s payment infrastructure, said at a Toronto conference that Payments Canada has finished testing how the forthcoming instant payments system behaves in business scenarios and is now making sure its parts will work together to handle the expected workload. (The Logic)
The local government northwest of Salt Lake City unanimously signed off on an agreement to create a special development area that’s intended to include a 7.5-gigawatt data centre backed by Canadian celebrity investor Kevin O’Leary. It’s equal in scale to one he’s planning just outside Grande Prairie, Alta.; the projects are now called Wonder Valley Utah and Wonder Valley Alberta. (The Logic)
The Toronto-based legal and financial technology company executed a plan on Monday, giving shareholders about US$1.44 per share in cash, totalling around US$605 million. Based on recent filings, corporations linked to the Thomson family, the wealthiest in Canada and among the wealthiest in the world, own about 70.6 per cent of the company’s shares. That could yield over US$448.6 million if they take full advantage of the deal. (The Logic)
Arctic Canadian Diamond Company, which owns the Ekati diamond mine about 300 kilometres northwest of Yellowknife in the Northwest Territories, told the courts it can no longer make its payroll after prices for its diamonds dropped from US $92 per carat at the end of 2024 to $24 per carat at the end of last year. (The Logic)
The U.S. private equity firm’s potential acquisition of Canada’s largest payment processor, which is co-owned by Royal Bank of Canada and Bank of Montreal, has been in the works for a long time but could come together by summer, the Financial Times reported, citing unnamed sources. Moneris did not immediately respond to The Logic’s request for comment. (Financial Times)
The firms’ new joint venture is dedicated to building and commissioning reactors from Westinghouse, the U.S.-headquartered nuclear power company of which Brookfield owns 51 per cent. It’s starting by taking over management of a tentative project to complete two unfinished Westinghouse reactors in South Carolina. (The Logic)
CADD is now trading on the Base, Ethereum and Tempo blockchains after receiving regulatory approval from Alberta Treasury Board and Finance, Calgary’s Tetra said in a release. The Canadian dollar stablecoin, a digital asset pegged to the value of a central bank-issued currency, is backed by a consortium of investors that also includes ATB Financial, Wealthsimple and Shopify. (The Logic)