Each week, we provide an overview of insider transactions, investments in young local companies and news from listed companies.
They saw an opportunity in the title drop
Two of Alimentation Couche-Tard’s founders, Alain Bouchard (photo) and Richard Fortin, took advantage of the fall in the company’s stock price, caused by the offer on Carrefour, to buy shares. Mr. Bouchard spent nearly $ 7.3 million to increase his stake in Couche-Tard, which was already worth nearly $ 5 billion. For his part, Mr. Fortin invested $ 942,000. The retailer’s stock fell more than 12% last week as investors were confused by its sights in the supermarket sector.
Innodem raises US $ 6 million
The young Montreal biopharma Innodem Neurosciences, founded in 2016, has just raised US $ 6 million from the firm Morningside in Hong Kong. Innodem has patented a technology for analyzing biomarkers of multiple sclerosis, Alzheimer’s disease and Parkinson’s disease. Its mobile application can detect problematic eye movements in a few minutes, facilitating clinical diagnosis.
Support for immigrant entrepreneurs
Young Montreal entrepreneurs and professionals recently set up the BridgeMTL incubator to help immigrants launch their businesses. It is Thierry Rassam, owner of the law firm SOS Ticket, who chairs the board of directors of the new organization.
Profit of $ 1.7 million for a VP. by Goodfood
Mohammad Awada, vice president of strategy implementation at Goodfood Market, made a handsome gain of nearly $ 1.7 million by exercising stock options in the company last week. The company’s chief administrator, Donald Olds, meanwhile pocketed a profit of over $ 232,000 in the same way. The title of the Montreal-based meal delivery company has almost quadrupled in the past 12 months.
Power is betting big on renewable energy
Power Sustainable, a subsidiary of Power Corporation, this week launched a $ 1 billion renewable energy investment platform. Among the founding partners of the fund are the Mouvement Desjardins, which will act as principal investor, and the National Bank. Olivier Desmarais, son of André Desmarais and grandson of Paul Desmarais, is at the head of Power Sustainable.
Qohash raises $ 8 million
In a press release published only in English, the young start-up Qohash from Quebec announced that it had raised $ 8 million as part of a round of financing led by the American firm FINTOP Capital. Qohash specializes in computer data security, particularly for remote work.
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 protected] 1-800-268-7116