Athabasca Indigenous Investments, a new consortium of 23 First Nations and Metis communities in northern Alberta, will assume an 11.57 per cent interest in seven Enbridge-operated pipelines under the deal. (The Logic)
The tech giant’s corporate venture arm has decided to stop using the software it relied on as a decision-making tool, multiple sources told Axios. (Axios)
Dave McKay said the federal government hasn’t budgeted enough money to help the private sector reduce carbon emissions to meet climate targets. McKay added that CEOs also need to be more ambitious. “The piece that’s missing is a public-private partnership,” he told the Toronto Star’s editorial board. (Toronto Star)
The new funding program is open to providers with projects costing at least $10 million, and applicants can simultaneously apply for a share of $400 million in grants from Natural Resources Canada. The bank is to be paid back on a sliding scale—more if use of the chargers exceeds expectations, less if it doesn’t. (The Logic)
The report from Bloomberg, citing “a person familiar with his deal-making,” said it’s unclear which of the U.S. crypto billionaire’s companies is considering the bid and whether it would be for some or all of the bankrupt crypto lender’s assets. Celsius owns Bitcoin mining operations and a business for storing and securing cryptocurrency. (Bloomberg)
The pension fund voted against 65 directors at 35 companies whose climate-change disclosures and practices weren’t up to the fund’s standards, according to its latest sustainability report. It also influenced 35 firms to make “material commitments and improvements” on climate change. (The Logic)
First Phosphate is scouring 1,500 square kilometres of land claims in Quebec’s Saguenay region for a key component in lithium iron phosphate batteries. Kent, a former TV journalist, was environment minister under Conservative prime minister Stephen Harper from 2011 to 2013 and has been a First Phosphate director since last month. (The Logic)
Forty-one angel organizations invested $262.1 million across 635 deals in 2021, according to the latest report from the National Angel Capital Organization (NACO). The overall amount invested was 150 per cent higher than in 2020 with 53 per cent more deals completed. Organizations also saw a significant increase in demand, with nearly 8,000 requests for funding, up 18 per cent from the previous year. (The Logic)
Investors in the Toronto-based Middle-Eastern restaurant chain claim the company has been losing money since 2015 and is insolvent. The group, controlled by Ali Noureddine, owns 75 per cent of the company but shares 50/50 voting rights with founder and CEO Mohamad Fakih. Each party wants the other to cede its control. (The Globe and Mail)
The Toronto-based legal and financial software company’s stock rose more than 17 per cent after it said it would buy back up to five per cent of its shares. It also declared a 1.875-cent per-share dividend and reported quarterly revenue in line with preliminary results from earlier this month, even as it posted a modest $3.3 million net loss. (The Logic)