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)
Jeneration Capital led the round, while Canadian investors BDC Capital, BMO Capital Partners, Golden Ventures, Kensington Capital Partners and Nicola Wealth also participated. The funding was all equity and primary capital going to the company itself, Avidbots director of marketing Skylar Lawrence-LeBel told The Logic. (The Logic)
The Vancouver-headquartered ID-verification firm has a director and other key staff in the country, and plans to open a physical office in the coming months, said spokesperson Alison Gallagher in an email to The Logic. She added that Trulioo is now hiring in Singapore, but did not specify how many staff it plans to have in the country. (The Logic)
The Bahamas-based cryptocurrency-trading platform has won an auction to buy Voyager Digital’s crypto assets for about US$1.4 billion. (The Logic)
In his resignation letter, the CEO of the embattled crypto lender said he regrets becoming a “distraction” by staying in the role until now. He will continue to promote “a viable plan” to reorganize Celsius and reimburse creditors in the company’s ongoing bankruptcy proceedings. (The Logic)
The world’s largest cryptocurrency-trading platform by volume will dispatch members of its investigations team to lead day-long workshops training law enforcement professionals on the basics of blockchain and how to combat crypto crime. (The Logic)