Each week, we provide an overview of insider transactions, investments in young local companies and news from listed companies.
Quebec is injecting $ 50 million
File photo, Simon Clark
The Minister of the Economy, Pierre Fitzgibbon, this week launched the Seed Fund Competition, which will have funding of $ 100 million. The government will contribute $ 50 million, the balance coming from the Fonds de solidarité FTQ, Teralys Capital, Fondaction CSN and the Caisse de dépôt. The initiative aims to create at least three new funds in sectors with high growth potential over the next three years.
He sells Richelieu
An administrator of Quincaillerie Richelieu, Marc Poulin, made a profit of more than $ 145,000 by exercising stock options in the Quebec company on Wednesday. Mr. Poulin is a former CEO of Sobeys (IGA in Quebec). Richelieu’s stock has gained over 30% in the past 12 months, so the company is now worth more than $ 2 billion.
Important acquisition for a Victo SME
Gryb International received financial support from Investissement Québec, the National Bank, Export and Development Canada (EDC), the Business Development Bank of Canada (BDC) and Fondaction to acquire Two Harbors Machine Shop, a company of Minnesota. Founded in 2007 in Victoriaville, Gryb manufactures heavy machinery equipment used in several sectors, including construction, demolition, forestry, transportation, recycling and mining.
Sagard launches into video games in France
Sagard, a subsidiary of Power Corporation, has taken a minority stake in French video game studio Asobo. Founded in 2002, Asobo has notably developed the most recent version of Microsoft Flight Simulator, which received an excellent critical and popular reception.
Towards an aeronautics fund
Frédéric Loiselle, who until recently headed “aerospace solutions” at BDC, wants to launch a $ 100 million fund dedicated to the acquisition of aeronautical companies. Mr. Loiselle would like Quebec to invest up to $ 30 million in it. Minister Fitzgibbon recently told the Newspaper that he wanted to encourage the creation of such funds.
Funding of $ 40 million for NanoXplore
NanoXplore, a Montreal graphene producer, will issue at least $ 40 million in new shares on the TSX Venture Exchange. The company, which has plants in North America and Europe, recently reached an agreement to deliver graphene to Ontario’s Martinrea, a major supplier to automakers.
Natasha Kumar has been a reporter on the news desk since 2018. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining The Times Hub, Natasha Kumar worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my email@example.com 1-800-268-7116