Busy Bees Holdings Ltd has closed its acquisition of BrightPath Early Learning Inc (TSX-V: BPE), a Calgary-based early learning and childcare provider. The $145 million deal, announced in May, will result in BrightPath’s delisting from TSX Venture Exchange today. Founded in 2010, BrightPath grew to become an operator of 78 locations in Canada. Busy Bees, the United Kingdom’s largest nursery chain, was acquired by Ontario Teachers’ Pension Plan in 2013.

PRESS RELEASE

Brightpath completes arrangement with Busy Bees

July 28, 2017

TORONTO — BrightPath Early Learning Inc. (TSX-V: BPE) (“BrightPath” or the “Company”) is pleased to announce that BrightPath has completed its previously announced Arrangement with an affiliate of Busy Bees Holdings Limited (“Busy Bees”, a company owned by Ontario Teachers’ Pension Plan (“Ontario Teachers”). Pursuant to the Arrangement, each common share of BrightPath has been acquired for $0.80 in cash.

In connection with the completion of the Arrangement, the common shares of BrightPath are expected to be delisted from the TSX Venture Exchange at the close of business on July 28, 2017.

Jeffrey Olin, Chairman of BrightPath, commented, “Over the past seven years, BrightPath has grown from a start-up to a Canadian leader with more than 8,950 licensed child care spaces in Ontario, British Columbia and Alberta. At the same time, we created a new and unique opportunity for passionate caregivers to pursue a progressive career path in their field of interest, now employing more than 2,130 people. We continue to believe that the Arrangement will serve Canadian families well by ensuring the continuation of high-quality child care services.”

Mary Ann Curran, Chief Executive Officer of BrightPath, added, “With a passion for the care of children, we look forward to continuing to expand and fill the need for high quality early learning and child care. We will continue to raise the bar on quality in centres that are already, and will in the future become, part of the BrightPath family.”

About BrightPath Early Learning Inc.

BrightPath Early Learning Inc. is a Canadian leader in early learning and child care with 78 locations in major markets across the country. Meeting the highest standards in curriculum, nutrition, technology and recreational programing, BrightPath is committed to providing families with the very best child development programs and care Canada has to offer.

For more information, please visit www.BrightPathKids.com/corporate or contact Dale Kearns, President and CFO of BrightPath Early Learning Inc. at (403) 705-0362 Ext. 406.

About Busy Bees

Busy Bees, majority owned by Ontario Teachers Pension Plan is the UK’s leading provider of quality child care, caring for over 40,000 children across the country, in 335 nurseries. Founded in 1984, Busy Bees are committed to delivering high quality care and early years learning designed to give every child the best start in life for and to provide essential support to parents. In addition to its UK presence, Busy Bees also operates 70 nurseries across Singapore and Malaysia, including the Asian International College.

For further information, please contact:

Dale Kearns
President & CFO, BrightPath Early Learning Inc.
Office: (403) 705-0362 Ext. 406
Toll Free: (888) 808-2252

200 Rivercrest Drive SE, Suite 201
Calgary, AB T2C 2X5
http://www.brightpathkids.com

Photo courtesy of Busy Bees Holdings Ltd

PointNorth Capital has acquired a 9.75 percent interest in AGT Food and Ingredients Inc (TSX: AGT), a Regina, Saskatchewan-based supplier of pulses, staple foods and food ingredients. The deal’s financial terms were not released. PointNorth joins Fairfax Financial Holdings, which earlier this week announced a $190 million investment in the company. PointNorth, a Canadian special situations investor, was launched last year by the principals of Oxford Park Group.

PRESS RELEASE

PointNorth Capital Announces a 9.75% Position in AGT Food and Ingredients Inc.

TORONTO, July 25, 2017 /CNW/ – PointNorth Capital Inc., together with certain affiliates and associates (collectively, “PointNorth”), announces today that it has acquired a 9.75% position in AGT Food and Ingredients Inc. (“AGT”) and looks forward to working closely with the CEO, Murad Al-Katib, and Chairman, Huseyin Arslan as well as AGT’s newest investor Fairfax Financial Holdings Limited (“Fairfax”).

PointNorth added, “We invested in AGT based on the compelling underlying fundamentals of the industry in which AGT operates and is extraordinarily well positioned in, and our confidence in the existing management team and its track record of generating average annual total returns of nearly 20% since 2007.”

“We are aligned with PointNorth regarding the common goal of generating shareholder value,” commented Murad Al-Katib. “We appreciate the vote of confidence we have received from both Fairfax and PointNorth and look forward to building on AGT’s strategy going forward.”

For further information: Maria Yeh, Phone: (416) 361-1254; Fax: (416) 361-6018, Email: maria@pointnorthcapital.com

Photo courtesy of Reuters/Akhtar Soomro

Fengate Real Asset Investments has agreed to partner with Friday Harbour Resort, a luxury resort community project located in Innisfil, Ontario. Fengate will manage an investment made in the project by Labourers’ Pension Fund of Central and Eastern Canada–LiUNA. No financial terms were released. The Friday Harbour project is currently under construction on Lake Simcoe, with the operational launch expected to take place this year. Toronto-based Fengate is an infrastructure, private equity and real estate investment firm.

PRESS RELEASE

Friday Harbour announces strategic partnership with Fengate Real Asset Investments

TORONTO, July 28, 2017 /CNW/ – Friday Harbour Resort (“Friday Harbour”) and Fengate Real Asset Investments (“Fengate”) are pleased to announce a new and strategic partnership. Friday Harbour is Canada’s award-winning four seasons resort. Fengate, a leading real asset investment firm specializing in real estate, infrastructure and private equity investment strategies, is a new financial partner on the prestigious Friday Harbour project, managing the investment on behalf of the Laborers’ International Union of North America’s (LiUNA) Central and Eastern Canada Pension Fund.

“Sculpted into Lake Simcoe’s Big Bay Point, 45 minutes from the Greater Toronto Area, Friday Harbour is a resort community that infuses fun and relaxation, creating an invigorating blend of natural greenery and urban amenity, and we feel the partnership with LiUNA and Fengate will only benefit this unique market positioning,” said Jim V. De Gasperis, Managing Partner of Friday Harbour.

“It is a pleasure to work with our partners, the professional team at Friday Harbour,” said Joe Mancinelli, LiUNA International Vice President and Regional Manager for Central and Eastern Canada. “LiUNA is anticipating great returns in this exciting real estate and development investment and our investment in the thousands of LiUNA jobs being created.”

“We are very pleased to partner with Friday Harbour on behalf of our investor, LiUNA,” said Lou Serafini Jr., President and CEO of Fengate. “Friday Harbour is a visionary development for Ontario, and the founding partners have done a tremendous job with keeping the development firmly on track, and the project momentum growing.”

About Friday Harbour
Friday Harbour Resort is Canada’s award-winning mixed use development located on the shores of Lake Simcoe in Innisfil. Designed as a luxury resort community, Friday Harbour has become the best of breed brand for people seeking the benefits of cottage lakeside living with the amenities of an urban community. Learn more at www.fridayharbourresort.com.

About LiUNA
The Labourers’ Pension Fund of Central and Eastern Canada is a Multi-Employer Pension Plan (MEPP) established on February 23, 1972. In a MEPP, both the benefits and the contributions are defined. Since its inception, the Fund has grown to almost $6 billion in assets, almost 100,000 members and over 18,000 pensioners and beneficiaries. The Plan is registered under the Ontario Pension Benefits Act and the Income Tax Act.

About Fengate
Fengate Real Asset Investments is a leading real asset investment firm specializing in investment funds with a strategic focus on real estate, infrastructure and private equity. Our investment strategies are realized through a series of private funds, to which institutional and high net worth investors have committed over C$2.3B to date. Through our experience, expertise and industry relationships, our clients gain access to high-barrier-to-entry investment solutions which deliver superior risk-adjusted returns. The firm has been recognized as one of “Canada’s Best Managed Companies” since 2007. Learn more at fengate.com.

For further information: Media Contacts: Friday Harbour Resort, Ashley Bitton, The Brand Factory, abitton@thebrandfactory.com, O: +1 416 920 8115; Fengate Real Asset Investments, Amy Holmes, Director, Marketing and Communications, amy.holmes@fengate.com, O: +1 905 491 2619, C: +1 647 297 5369

Photo courtesy of Friday Harbour Resort Holdings Inc

Canada’s top 10 first-half private equity deals had disclosed values of more than $13.4 billion, up 89 percent from the $7.1 billion invested in the top 10 deals at the same time in 2016.

The number is based on PE Hub Canada’s list of the largest deals announced in January through June, supplemented by preliminary Thomson Reuters data. It suggests the domestic market may be poised in 2017 to end a three-year decline in investment activity.

In fact, H1 2017 is the strongest first half on record, according to preliminary Thomson Reuters data. Dollar flows for all deals hit $14.6 billion in this period, compared to $18.4 billion invested in 2016 as a whole. The data also point to year-over-year growth in deal volumes.

H1 2017’s top deals are led by Vista Equity Partners’ $4.8 billion acquisition of DH Corp, the largest Canadian PE deal in three years.

1) DH Corp take-private deal

DH Corp, a Toronto financial-tech-services company, was taken private in June by Vista Equity Partners. The acquisition was valued at $4.8 billion. Vista reportedly competed with other PE firms for DH, which it merged with Britain’s Misys. The combined entity was named Finastra.

2) RBI add-on acquisition

In March, Restaurant Brands International, owner of fast-food chains Burger King and Tim Hortons, bought Popeyes Louisiana Kitchen for $2.4 billion (US$1.8 billion). Oakville, Ontario’s RBI was formed in 2014, when 3G Capital-backed Burger King acquired Tim Hortons for $12.6 billion.

3) Milestone Apartments purchase

Starwood Capital Group acquired Milestone Apartments REIT, an U.S.-residential-property owner and manager that went public in Toronto in 2013. The transaction, completed in April, took the company private for about $1.7 billion (US$1.3 billion).

4) Osisko metals portfolio buy

Osisko Gold Royalties in June agreed to buy a precious-metals portfolio from Orion Mine Finance for $1.13 billion. The Montréal mining royalty and stream company is backed by Caisse de dépôt et placement du Québec and Fonds de solidarité FTQ, which together will fund 41 percent of the payment.

5) Arctic Glacier sponsor-to-sponsor

In March, Carlyle Group bought Arctic Glacier Holdings, a Winnipeg manufacturer of packaged ice, from HIG Capital, which acquired it out of bankruptcy in 2012. Terms weren’t disclosed, but Moody’s reported the purchase price at about $966 million (US$723 million).

6) Canam take-private deal

Canam Group, a Saint-Georges, Québec, maker of customized construction products, in April agreed to be taken private by American Industrial Partners and the Dutil family. Expected to close this year, the $875 million deal is backed by Caisse de dépôt et placement du Québec and Fonds de solidarité FTQ, Canam’s existing investors.

7) Apollo Health, JemPak acquisitions

In January, Acasta Enterprises acquired three businesses in a single $1.1 billion deal. They included Toronto consumer staples companies Apollo Health & Beauty Care and JemPak, which together accounted for about $525 million of the total. Acasta, a SPAC, is planning to launch as a PE firm.

8) Sirius XM Canada parent-led buy

Sirius XM Canada Holdings, a Toronto audio-entertainment provider, was taken private by a vehicle owned by its parent, Sirius XM Radio, as well as Slaight Communications and Obelysk Media, a PE firm. The transaction, completed in May, valued the company at about $472 million.

9) Vesta Energy investment

Vesta Energy secured about $305 million in financing in May. The lion’s share of the round, or $295 million, was supplied by Riverstone Holdings and JOG Capital. Based in Calgary, Vesta is focused on light oil exploration and production.

10) Cona Resources sponsor-to-sponsor

Waterous Energy Fund in April agreed to buy a 67 percent stake in Cona Resources, a Calgary crude-oil producer. The price tag is $244 million. The sellers are Riverstone Holdings and NGP Energy Capital Management, which have backed Cona, formerly Northern Blizzard Resources, since 2009.

Photo courtesy of BsWei/iStock/Getty Images

NextBlock Global, a Toronto-based digital asset investment company, has secured $20 million in financing. The investors in the round were not disclosed. Recently launched by Founder and CEO Alex Tapscott, NextBlock is focused on investing in entrepreneurs and startups in the global market for digital assets, such as Bitcoin and Ethereum. Tapscott said his company has encountered demand from institutional and strategic investors looking to gain exposure to blockchain and cryptocurrency technology opportunities. NextBlock will use the funds raised to create a diversified portfolio of investments in the space. Tapscott is the co-author of Blockchain Revolution.

PRESS RELEASE

New Digital Asset Investment Company NextBlock Global Announces Closing of Oversubscribed $20 Million Financing

TORONTO, July 31, 2017 /CNW/ – Best-selling author of Blockchain Revolution and former investment banker Alex Tapscott launches NextBlock Global, a new digital asset investment company, announcing today the closing of an oversubscribed $20 million financing.

With the closing of the financing, NextBlock is now one of the leading institutional investors in the fast-growing and disruptive new digital asset economy. Digital assets, like Bitcoin and Ethereum, are foundational to the new Internet of Value, which is beginning to disrupt the economy in profound ways, upending everything from financial services to energy grids, media to manufacturing, and ushering in the next generation of world-leading companies, platforms and networks for this new economy.

NextBlock Global’s Founder and CEO Alex Tapscott said, “We are delighted with the outcome of this financing and we are ready to lead in this fast changing and disruptive marketplace,” adding “we saw tremendous demand from institutional and strategic investors who are looking to get exposure to this new asset class.” NextBlock will immediately begin to deploy capital, giving investors diversified exposure to the most promising investments in this space.

NextBlock Co-founder and Chief Investment Officer Charlie Morris added, “Blockchain has made the world of venture capital virtually unrecognizable: blockchain entrepreneurs are bypassing traditional gatekeepers and instead conducting vast global crowdsales of digital assets, which to-date have raised over $1.7 billion (CAD) this year. This is the fastest-growing market in the world and one of the most exciting areas to deploy capital.”

NextBlock Global is based in Toronto, Canada, one of the world’s leading hubs for blockchain innovation. “Locating in Toronto and in Canada is the perfect strategic fit for NextBlock,” Mr. Tapscott said. “Toronto has a deep pool of world-class talent, innovative regulators and banks, and some of the best blockchain startups in the world, and we are excited to contribute to this growing ecosystem.”

Looking forward, Mr Tapscott said, “We believe the future is not something to be predicted, it’s something to be achieved. NextBlock Global has the experience, market-access, strategy and domain expertise to achieve that better future, and we are excited to share that journey with all of our partners and investors. This is only the beginning.”

For further information: or to speak to NextBlock Founders please contact: Jenna Pilgrim, Public Relations, NextBlock, jenna@tapscott.com, 416-863-8810

Photo courtesy of Reuters/Benoit Tessier

Clean energy investment platform CoPower Inc has secured $2 million in its latest financing. The round was led by Fondaction CSN and joined by new and existing investors, including Royal Bank of Canada, Innovation Support, Ferst Capital Partners and Laurie Thomson. Montréal-based CoPower operates an online platform that leverages investments from individuals to fund clean-energy project developers. It has so far raised $12 million in loans for community-scale projects, such as LED lighting retrofits and geothermal heating and cooling for homes. CoPower was founded in 2013 by CEO David Berliner and President Raphael Bouskila.

PRESS RELEASE

CoPower, Canada’s leading clean energy fintech company, raises $2 million in equity financing from strategic investors

•Secures $2 million in equity financing round
•Financing enables CoPower to make its successful investment platform available to even more Canadians, and further solidify its position as an emerging source of alternative financing to clean energy project developers

Montreal, July 31 2017 -CoPower Inc, Canada’s leading clean energy fintech company, announced today that it has secured $2 million in equity financing to further scale its successful investment platform and provide a simple way for every Canadian investor to put the planet in their portfolio.

Led by Fondaction CSN, a Montreal-based pension fund, the round included other existing shareholders including the Royal Bank of Canada and Innovation Support, as well as new investors Ferst Capital Partners and Laurie Thomson, among others.

Founded in 2013, CoPower sits at the intersection of three major trends: the rise of fintech platforms, the growing demand for investment products that also have a positive social and environmental impact, and the mass deployment of distributed clean energy technologies.

This corporate raise continues CoPower’s track record of working with financial institutions, including a $1 million revolving credit facility with Vancity Capital Corporation announced earlier this year.

To date, CoPower has raised over $12 million in loans for community-scale clean energy projects, like LED lighting retrofits and geothermal heating and cooling for homes, that generate measurable carbon reductions and strong financial returns. While opportunities to invest in clean energy infrastructure have generally been restricted to institutional and high net worth investors, CoPower’s flagship Green Bonds, available through a simple online platform, allow everyone to participate.

“We are thrilled to bring together a range of values-aligned shareholders, including institutional investors like Fondaction and the Royal Bank of Canada, as well as leading fintech investors like Ferst Capital Partners,” says David Berliner, CoPower’s cofounder and CEO.

“Our vision is to provide simple financial products, like our Green Bond, that offer solid returns for all types of investors, and that at the same time help finance the clean energy economy,” adds Raphael Bouskila, CoPower’s cofounder and President. “This corporate round of financing gives us additional resources to continue to serve our clients and to deliver on that vision.”

“Being the preferred partner in smaller, innovative sustainable infrastructure in Quebec, we’ve seen first-hand what a challenge it is for these clean energy projects to access financing. CoPower’s innovative approach to filling that gap through crowd-investing shows that they are natural partners for us and our entire ecosystem by trying to accelerate the energy transition through technology and financial innovation. We are delighted to reaffirm our support of the company and its management,” says Stéphan Morency at Fondaction CSN.

CoPower’s Green Bonds offer up to 5% interest annually, and are available through CoPower’s online platform as well as through select financial advisors and brokerages.

About CoPower: Founded in 2013, CoPower is a clean energy financing and investment company. CoPower has raised over $12 million from investors for clean energy and energy efficiency projects that generate strong returns and carbon savings. The company was awarded Social Enterprise of the Year (2016) by MaRS, and is a certified B-Corporation.
Get started as a clean energy investor at https://copower.me/en/

About Fondaction CSN: Created in 1996, Fondaction is a labour-sponsored fund with assets in excess of 1.7 billion dollars collected as retirement savings from more than 137,000 shareholders. Fondaction’s direct investments and those made through investment funds support the development of more than 1200 SMEs in different lines of business, in large part involved in various components of the social economy. Learn more at http://fondaction.com/

About Ferst Capital Partners: Ferst Capital Partners (FCP) is an investment firm on the forefront of change. As investors, we provide strategic capital and support to FinTech startups. As a startup studio, we support the next generation of emerging FinTech entrepreneurs who are working hard to improve the financial lives of all Canadians. We focus on how Canadians spend, save, borrow, insure and invest their hard-earned money because we believe these things are important. www.ferstcapital.com

For more information:
David Berliner, CEO media@copower.me 514-600-0270 x110

Photo courtesy of kav777/iStock/Getty Images

Japanese holistic healthcare company Otsuka Pharmaceutical Co Ltd has agreed to acquire Daiya Foods Inc, a Vancouver maker of plant-based, allergen-free foods. Otsuka, an affiliate of Otsuka Holdings Co Ltd, agreed to pay $405 million for the business. Founded in 2008, Daiya sells its products in more than 25,000 stores across North America and in select international markets. The company will continue to be based in Canada and led by existing management, including CEO Terry Tierney, upon the deal’s close. Daiya has since 2015 been backed by U.S. private equity firms Northwood Ventures and Stockton Road Capital.

PRESS RELEASE

Otsuka Announces the Acquisition of Rapidly Growing Plant-Based Food Innovator Daiya

Acquisition furthers shared goals of establishing a global plant-based food platform delivering better health around the world

VANCOUVER, British Columbia, July 27, 2017 /CNW/ — Otsuka Pharmaceutical Co., Ltd. (Otsuka), a wholly owned subsidiary of Otsuka Holdings Co., Ltd. and a global holistic healthcare company dedicated to bettering the health of people worldwide, today announced that it has entered into a definitive agreement to acquire 100 percent of Daiya Foods Inc. (Daiya), a privately held Vancouver, Canada-based company specializing in the manufacture of plant-based foods. The acquisition, reported at 405 million Canadian dollars, is expected to help increase Daiya’s presence throughout North America and beyond, while creating a global plant-based platform.

The acquisition will proceed by way of Plan of Arrangement under British Columbia law. The Arrangement has been approved by the Daiya board and will be subject to, among other things, the approval of Daiya shareholders, receipt of court approval and the satisfaction of certain other customary closing conditions.

Otsuka operates worldwide, including in the US and Canada, where it offers popular brands like Nature Made vitamins. The acquisition of Daiya greatly expands Otsuka’s product portfolio, adding a new category of plant-based products in North America, and provides Daiya with a like-minded partner with expertise in consumer brands, R&D and manufacturing, and global markets.

Tatsuo Higuchi, President and Representative Director of Otsuka commented, “We are excited to welcome Daiya to Otsuka group. Driven by a highly talented management team, Daiya has developed a portfolio of high-quality, unique plant-based nutrition products and built a strong brand with loyal customers. We believe this will be an important pillar for our nutraceutical1 business. With our shared values, vision and mission, together we will commit to the better wellness of people worldwide.”

Founded in 2008, Daiya was among the pioneers in developing delicious, plant-based cheese alternatives. The company has demonstrated its brand extendibility, now offering a wide range of successful plant-based food products found in more than 25,000 stores across North America, as well as in select international markets. Daiya is also one of the founding members of The Plant Based Foods Association, a leading trade association that represents 75 of the US’s leading plant-based foods businesses.

“Joining the Otsuka family is an honor for all of us at Daiya. With aligned values and vision, Daiya and Otsuka have a tremendous opportunity to bring the incredible benefits of a plant-forward lifestyle to people around the world,” explains Terry Tierney, Daiya’s CEO. “Our partnership with Otsuka enables us to leverage their expertise and vast resources to continue growing our line of great-tasting, allergy-friendly food products that have delighted consumers for over 10 years.”

Operations and management under the leadership of CEO Terry Tierney will continue from Daiya’s current headquarters in Vancouver, Canada.

Piper Jaffray served as sole financial advisor and Fasken Martineau LLP acted as legal counsel to Daiya.

About Daiya
Daiya Foods was founded in 2008 out of a love for food and a commitment to healthy living. Today, as an industry leader and one of the founding members of The Plant Based Foods Association, Daiya remains passionate about celebrating delicious food that is dairy-, gluten- and soy-free. Its line of plant-based foods features Greek Yogurt Alternatives, Pizzas, Cheezecakes, Cream Cheeze Style Spreads, and wonderful cheese alternatives, including Blocks, Shreds and Slices, available in the dairy case and freezer aisle. Daiya also recently expanded its offerings to include shelf-stable products like its Cheezy Macs, Dairy-Free Dressings and Cheeze Sauce. Daiya’s selection of deliciously plant-based foods can be found in more than 25,000 grocery stores in the U.S., including Whole Foods, Kroger, Safeway and Publix, as well as most natural food retailers. Daiya’s products are also available internationally in Australia, Sweden, Mexico, and Hong Kong, among others. For more information about Daiya, please visit www.daiyafoods.com, become a fan on Facebook or follow us on Twitter and Instagram.

About Otsuka Pharmaceutical
Otsuka Pharmaceutical is a global healthcare company with the corporate philosophy: “Otsuka-people creating new products for better health worldwide.” Otsuka researches, develops, manufactures and markets innovative products, with a focus on pharmaceutical products for the treatment of diseases and nutraceutical products for the maintenance of everyday health. Otsuka Pharmaceutical is a wholly owned subsidiary of Otsuka Holdings Co., Ltd., the holding company for the Otsuka group of companies that is headquartered in Tokyo, Japan. Otsuka Holdings had consolidated sales of approximately 1,196 billion Japanese yen (10.3 billion U.S. dollars) in 2016 and approximately 45,000 employees worldwide. Otsuka Pharmaceutical welcomes you to visit its global website at https://www.otsuka.co.jp/en/index.php.

1 Includes two core businesses: nutrition and pharmaceuticals

For further information: Jessica Lieu, daiya@havasformula.com, (619) 234-0345, www.daiyafoods.com

Photo courtesy of Daiya Foods Inc 

RentMoola Payment Solutions Inc has agreed to have TriView Capital lead a $5 million financing for the company. RentMoola, a Vancouver financial technology provider, said the funds raised will support its continued North American growth and execution of several strategic partnerships, scheduled to launch in Q1 2018. Founded in 2013 by CEO Patrick Postrehovsky and COO Philipp Postrehovsky, RentMoola operates an online payments network that allows tenants and owners to pay rent. It last year raised $5 million from a consortium led by Conservice LLC and principals of Wyse Meter Solutions Inc.

PRESS RELEASE

RentMoola Signs Agency Agreement with TriView Capital to Raise $5M

VANCOUVER, British Columbia and CALGARY, Alberta, July 31, 2017 (GLOBE NEWSWIRE) — RentMoola has signed an agency agreement with TriView Capital to lead a $5 million raise. Capital inflows will help further support continued North American growth and accelerate the execution of several key strategic partnerships that will launch in Q1 2018.

“Our team and board look forward to working with Craig Burrows and his team at TriView Capital on this financing as RentMoola continues to execute our growth and revenue strategy. TriView Capital was an early stage investor in our business and I am pleased to be working with TriView Capital on this follow-on financing as our business grows and matures,” said Patrick Postrehovsky, CEO RentMoola.

Craig Burrows, TriView CEO added, “The company continues to perfect their modelling and have started to execute their plan to grow their user base. With funding in place, RentMoola is in a position to dramatically grow their business and improve the overall valuation of the company significantly.”

To date RentMoola has raised $10M and eliminated rent checks in more than 400 North American cities.

About RentMoola

RentMoola, one of North America’s leading fintech companies, is changing the landscape of paying rent all over the world. Solving the age-old problem that paying and collecting rent is a major hassle, RentMoola is an online global payment network that allows tenants and owners to pay rent and other payments by credit card, debit card, RM Direct Debit™ or RM Cash™ while earning rewards. Members have access to our MoolaPerks™ program that provides exclusive deals to travel, lifestyle, home services and other rewards redeemable across North America, UK and Europe.

PAYING RENT IS REWARDING™

About TriView Capital

TriView Capital is a registered EMD across Western Canada and Ontario that specializes in private and alternative investments. Focused primarily in the real estate sector and yield products, TriView offers investors unique opportunities not offered in the public markets.

YOUR PRIVATE EQUITY SPECIALIST

Press contact:

RentMoola
Patrick Postrehovsky
Co-Founder & CEO
+1-604-916-2718
patrick@rentmoola.com

TriView Capital
Craig Burrows
President & CEO
+1-403-984-6570 ext. 221
cburrows@triviewcapital.com

Photo courtesy of RentMoola Payment Solutions Inc

U.S. private equity firm KSL Capital Partners and Henry Crown and Co (HCC), the owner of Aspen Skiing Co LLC, have closed their acquisition of Intrawest Resorts Holdings Inc (NYSE: SNOW), a ski resort operator and adventure company. The deal, announced in April at a value of US$1.5 billion, saw KSL and HCC acquire IntraWest from U.S. private equity firm Fortress Investment Group. IntraWest, which has principal offices in Denver, Colorado and Banff, Alberta, will be combined with other businesses under Squaw Valley Ski Holdings. KSL’s Bryan Traficanti will serve as the combined entity’s interim CEO.

PRESS RELEASE

Affiliates of KSL Capital Partners and Henry Crown and Company Complete Transactions to Combine Three Major Resort Companies

Bryan Traficanti named Interim Chief Executive Officer

David Perry named President and Chief Operating Officer

July 31, 2017

DENVER–(BUSINESS WIRE)–The new joint venture formed by affiliates of KSL Capital Partners, LLC (“KSL”) and Henry Crown and Company (“HCC”) today announced the completion of their previously announced acquisition of Intrawest Resorts Holdings, Inc. (NYSE: SNOW) (“Intrawest”) and Mammoth Resorts.

Through these transactions, Squaw Valley Ski Holdings (“SVSH”), previously owned by affiliates of KSL, Intrawest and Mammoth Resorts are now combined as one company. This new entity boasts 12 four-season mountain resorts with approximately six million skier visits, 20,000 skiable acres and significant land available for real estate development, as well as Canadian Mountain Holidays, the world’s leading heli-ski operator, plus comprehensive aviation and real estate businesses. Its mountain resorts are geographically diversified across most of North America’s major ski regions: Squaw Valley, Alpine Meadows, Mammoth Mountain Ski Area, Snow Summit, Bear Mountain and June Mountain in California; Steamboat Ski & Resort and Winter Park Resort in Colorado; Blue Mountain Ski Resort in Ontario; Mont Tremblant Resort in Quebec; Stratton Mountain Resort in Vermont; and Snowshoe Mountain Resort in West Virginia.

The companies also announced leadership changes effective upon the close of the transaction. KSL’s Bryan Traficanti became interim Chief Executive Officer, while a comprehensive search for a new chief executive officer is completed. Executive search firm Spencer Stuart has been retained to assist with the selection of a new Chief Executive Officer. Effective as of closing, Thomas Marano, Intrawest’s Chief Executive Officer, resigned his position; Rusty Gregory, Mammoth Resort’s Chairman and Chief Executive Officer, is an investor in the new company and will serve on the Board, and become Senior Strategic Advisor to the new company; and Andy Wirth, President and Chief Executive Officer of SVSH, will become President and Chief Operating Officer of SVSH.

“This transaction marks a significant milestone for our company, our guests, and our communities, and we are excited about the opportunities that lie ahead as a result of combining Intrawest, Squaw Valley Ski Holdings, and Mammoth Resorts,” said Mr. Traficanti. “We believe that each resort brings something different to the company, and our goal is to preserve the unique character and culture of each while also building something greater. Supported by affiliates of KSL and HCC, this new organization is well positioned not only for continued growth, but also to bring more value to our guests, more opportunities for our employees, and more investment into our local communities.”

Additionally, David Perry, previously Vice President and Chief Operating Officer of Aspen Skiing Company, L.L.C., also an affiliate of HCC, was named the newly integrated company’s President and Chief Operating Officer. Mr. Perry has spent more than four decades in the ski industry, including previous roles with Intrawest, Whistler/Blackcomb, and Canadian Mountain Holidays prior to being Chief Executive Officer of Colorado Ski Country USA and then Vice President and Chief Operating Officer at Aspen Skiing Company. Intrawest’s Sky Foulkes, previously holding the joint position of President of Winter Park Resort and Chief Operating Officer of Intrawest, transitioned to focusing full time on Winter Park Resort as its President and Chief Operating Officer.

Additional Leadership Announcements

The company is pleased to announce the following slate of resort leaders:

Andy Wirth, President and Chief Operating Officer, Squaw Valley Ski Holdings
Mark Brownlie, President and Chief Operating Officer, Mammoth Resorts (newly appointed)
Wade Reeser, General Manager, Big Bear Resort (reporting to Mark Brownlie)
Rob Perlman, President and Chief Operating Officer, Steamboat Ski & Resort
Sky Foulkes, President and Chief Operating Officer, Winter Park Resort
Patrice Malo, President and Chief Operating Officer, Mont Tremblant Resort
Dan Skelton, President and Chief Operating Officer, Blue Mountain Ski Resort
Bill Nupp, President and Chief Operating Officer, Stratton Mountain Resort
Frank DeBerry, President and Chief Operating Officer, Snowshoe Mountain Resort
Jeremy Levitt, President and Chief Operating Officer, Canadian Mountain Holidays
Jeff Denomme, President, Alpine Aerotech
Season Passes

For the full 2017-18 winter season, the new company will continue to honor the existing pass products that are currently on sale, including the Rocky Mountain Super Pass +, the M.A.X. Pass, and the Mountain Collective. The new company expects to launch a new name and brand prior to the 2017/2018 ski season.

About the Transactions

Under the terms of the previously announced Intrawest merger agreement, Intrawest stockholders will receive $23.75 in cash for each share of Intrawest common stock, representing a total valuation of approximately $1.5 billion. As a result of the closing of this acquisition, Intrawest will cease trading on the New York Stock Exchange. Under a separate previously announced purchase agreement, Mammoth Resorts is also being purchased by the new KSL and HCC joint venture effective today. Additionally, SVSH is being rolled into the new venture. The terms of both Mammoth Resorts and SVSH transactions have not been disclosed.

About Squaw Valley Ski Holdings

Squaw Valley Ski Holdings (“SVSH”), an affiliate of KSL, is the parent company of Squaw Valley and Alpine Meadows. Squaw Valley and Alpine Meadows are internationally renowned mountain resorts in North Lake Tahoe that span over 6,000 skiable acres and receive an annual average of 450 inches of snowfall and 300 sunny days. The resorts feature slopeside lodging at The Village at Squaw Valley®, which bustles year round with nonstop events and over 50 bars, restaurants and boutiques. For more information visit www.squawalpine.com.

About Mammoth Resorts

Mammoth Resorts, the leading four-season mountain resort operator in California, is now part of the new organization. At closing, Mammoth Resorts owns and operates a variety of recreation, hospitality, real estate development, food and beverage and retail enterprises. This includes Mammoth Mountain Ski Area, Snow Summit, Bear Mountain, and June Mountain. Mammoth Resorts is also the owner-operator of Tamarack Lodge and Resort, Mammoth Mountain Inn, Juniper Springs Resort, the Village Lodge, Mammoth Mountain Bike Park, Snow Summit Bike Park, Mammoth Snowmobile Adventures, Sierra Star Golf Course, and Bear Mountain Golf Course. For more information visit www.mammothresorts.com.

About Intrawest Resorts Holdings, Inc.

Intrawest is a North American mountain resort and adventure company, delivering distinctive vacation and travel experiences to its customers for over three decades. At closing, Intrawest owns and/or operates 6 four-season mountain resorts – Steamboat Ski & Resort, Winter Park Resort, Mont Tremblant Resort, Blue Mountain Ski Resort, Stratton Mountain Resort, and Snowshoe Mountain Resort – with approximately 8,000 skiable acres and over 1,100 acres of land available for real estate development. Intrawest’s mountain resorts are geographically diversified across most of North America’s major ski regions, including the Eastern United States, the Rocky Mountains, and Canada. The Company also operates an adventure travel business, the cornerstone of which is Canadian Mountain Holidays, a leading heli-skiing adventure company in North America. Additionally, the Company operates a comprehensive real estate business through which it manages condominium hotel properties and sells and markets residential real estate. Prior to closing, Intrawest Resorts Holdings, Inc. common stock was traded on the New York Stock Exchange (NYSE: SNOW). For more information, visit www.intrawest.com.

About KSL Capital Partners, LLC

KSL Capital Partners, LLC is a private equity firm specializing in travel and leisure enterprises in five primary sectors: hospitality, recreation, clubs, real estate, and travel services. KSL has offices in Denver, Colorado; Stamford, Connecticut; and London. Since 2005, KSL has raised approximately $7.5 billion in equity capital commitments. KSL’s current portfolio includes some of the premier properties in travel and leisure. For more information, please visit www.kslcapital.com.

About Henry Crown and Company

Henry Crown and Company, through a newly formed affiliate, is a minority investor in the new joint venture. Henry Crown and Company dates back to the early 1900’s when Henry Crown and his brothers started Material Service Corporation, which was later merged into General Dynamics. Today, the Crown’s family assets fall into four broadly defined categories, including publicly traded securities, real estate, investment funds, and privately held operating companies, including Aspen Skiing Company, L.L.C. Aspen Skiing Company owns and operates the four mountains of Aspen Snowmass – Snowmass, Aspen Mountain, Aspen Highlands, and Buttermilk – as well hospitality properties The Little Nell, Residences at The Little Nell, Limelight Aspen, and Limelight Ketchum in Ketchum, Idaho. In addition, Aspen Skiing Company owns and operates numerous retail and rental locations through the resort and the Roaring Fork Valley. For more information, visit www.aspensnowmass.com. Aspen Skiing Company’s resorts and hospitality properties will remain separate from the new entity.

Contacts
Intrawest Resorts Holdings, Inc.
Investor Relations
303-749-8370
InvestorRelations@intrawest.com

Photo courtesy of Mont Tremblant

Shareholders of Osisko Gold Royalties Ltd (TSX, NYSE: OR) have approved the company’s proposed buy of a precious metals portfolio from U.S. private equity firm Orion Mine Finance Group. The deal, announced in June, is valued at $1.13 billion. Osisko, a Montréal-based intermediate precious metal royalty and stream company, said the acquisition is expected to close today. Caisse de dépôt et placement du Québec and the Fonds de solidarité FTQ, both existing investors in the company, earlier agreed to fund about 41 percent of the $675 million cash payment for the portfolio.

PRESS RELEASE

Osisko Shareholders Overwhelmingly Approve Orion Transaction

MONTRÉAL, QUÉBEC–(Marketwired – July 31, 2017) – Osisko Gold Royalties Ltd (the “Corporation” or “Osisko”) (TSX:OR)(NYSE:OR) is pleased to announce that its shareholders have overwhelmingly approved at 99.6% the issuance of shares required to complete the acquisition of the Orion portfolio consisting of 74 royalties, streams, and precious metal offtakes at the Special Meeting of Shareholders held today in Montréal. Approximately 76.8% of the shares outstanding at the record date of June 19, 2017, were represented in person or by proxy at the meeting.

Sean Roosen, Chair of the Board of Directors and Chief Executive Officer, commenting on the results of the Meeting of Shareholders: “We are extremely grateful for the strong support for our transformational transaction with Orion which, we believe, will deliver great returns for our shareholders”.

The resolution approved by disinterested shareholders authorizes the Corporation to issue a total of 50,179,414 shares, including 30,906,594 shares to Orion Mine Finance as part of the consideration for the acquisition, and 19,272,820 shares as part of private placement to the Caisse de dépôt et placement du Québec and the Fonds de solidarité FTQ at a price of $14.56 to partially fund the cash consideration of the acquisition.

The transaction is expected to close later today.

About Osisko

Osisko Gold Royalties Ltd is an intermediate precious metal royalty company focused on the Americas that commenced activities in June 2014. Prior to the Transaction announced on June 5, 2017, it held over 50 royalties and one stream, including a 5% NSR royalty on the Canadian Malartic Mine (Canada), a 2.0% to 3.5% sliding scale NSR royalty on the Éléonore Mine (Canada) and a silver stream on the Gibraltar mine (Canada). Osisko also owns a portfolio of publicly held resource companies, including a 15.3% interest in Osisko Mining Inc., 14.7% in Osisko Metals Ltd., 13.3% in Falco Resources Ltd. and 33.4% in Barkerville Gold Mines Ltd.

Osisko’s head office is located at 1100 Avenue des Canadiens-de-Montréal, Suite 300, Montréal, Québec, H3B 2S2. For more information, visit osiskogr.com.

Osisko Gold Royalties
Vincent Metcalfe
Vice President, Investor Relations
(514) 940-0670
vmetcalfe@osiskogr.com
Osisko Gold Royalties
Joseph de la Plante
Vice President, Corporate Development
(514) 940-0670
jdelaplante@osiskogr.com

Photo courtesy of Osisko Gold Royalties Ltd

AES Corp (NYSE: AES) and Alberta Investment Management Corp (AIMCo) have closed their joint acquisition of FTP Power LLC (sPower), a Salt Lake City, Utah-based owner, operator and developer of U.S. utility-scale solar assets. The deal, announced in February, saw AES and AIMCo purchase the company from U.S. hedge fund manager Fir Tree Partners for US$1.6 billion, including debt. With the deal, AES and AIMCo will each own an equity interest in sPower of approximately 50 percent.

PRESS RELEASE

Fir Tree Partners Completes Sale of sPower, the Largest US Independent Solar Developer, to AES and AIMCo for $1.6 Billion

Watershed event in the renewable energy sector demonstrates the profit, job creation, and economic activity potential from rapid clean energy deployment

NEW YORK, July 31, 2017 /PRNewswire/ — Fir Tree Partners (Fir Tree) announced today that it has completed the sale of FTP Power LLC (sPower), the largest independent owner, operator and developer of utility-scale solar assets in the United States, to a joint venture co-controlled by The AES Corporation (NYSE: AES) and Alberta Investment Management Corporation (AIMCo), on behalf of certain of its clients, for approximately $1.6 billion in cash and assumed non-recourse debt.

Since its formation by Fir Tree in early 2014, sPower has grown from virtually no operating projects to the nation’s largest independent utility-scale solar business, with an operating portfolio of approximately 1.3 GW and a development portfolio of more than 10 GW. The sPower portfolio is composed of more than 75 utility scale solar and wind distributed electrical generation systems operating across 11 states – five red and six blue – demonstrating that clean energy works irrespective of politics.

“It is extremely rewarding to realize Fir Tree’s vision for sPower with the closing of the transaction between our company and AES and AIMCo,” said Jeffrey Tannenbaum, Chairman of the Board of sPower and founder of Fir Tree Partners. “We built a highly profitable business that will drive skilled worker job creation, local economic activity, and reduced environmental damage. We achieved this in spite of many obstacles that appear when a new industry challenges the status quo. It is our clear hope that sPower, led by its highly-talented team, serves as a major catalyst for the acceleration of AES’ portfolio to renewable energy, and that its positive impact continues far into the future.”

Scott Troeller, an sPower board member, said, “sPower’s innovation and significant commercial success in just three years is testament to its outstanding management team and demonstrates the increasingly attractive attributes of solar and wind generation. Renewable energy is no longer about relying on government subsidies. Rather, it has become about falling costs, increasing efficiency and an evolution towards becoming the best source for electricity to drive both economic and social returns. sPower proves this with its strong job creation, economic and environmental impact.”

sPower has been a source of high paying jobs for skilled workers across the country, often union labor. In the past year alone, sPower’s construction projects have employed more than 2,500 people resulting in over 1.5 million union hours. In 2016, the Company generated millions in economic activity attributable to salaries, taxes and local business spending in the 74 cities in which sPower operates. To put sPower’s environmental impact in perspective, upon completion of its near-term pipeline in 2017, approximately 250,000 homes will be powered by sPower’s clean energy, reducing three million metric tons of carbon pollution each year. This is roughly equivalent to either taking 450,000 cars off our nation’s roads or planting 2.3 million acres of forest, about the size of the entire state of Connecticut.

“With the help of Fir Tree, we have experienced incredible growth while positively impacting our communities. We are proud of the lasting platform we have built and role it will play in driving the proliferation of clean energy across the US. On behalf of the entire sPower team, I want to thank Fir Tree for its support and vision that have been so critical to our success,” said Ryan Creamer, Chief Executive Officer of sPower.

About Fir Tree Partners: Fir Tree, founded in 1994, is a private investment firm that invests worldwide in public and private companies, real estate, and debt. Fir Tree manages assets on behalf of leading endowments, foundations, pension funds, and sovereign wealth funds. The firm maintains offices in New York and Miami. https://www.firtree.com/

About sPower: Headquartered in Salt Lake City, with offices in San Francisco, Long Beach and New York City, sPower is the largest private owner of operating solar assets in the United States. sPower owns and operates more than 150 utility and commercial distributed electrical generation systems across the U.S, producing in excess of 1.1 GW of power. Additionally, sPower has an in-construction and development pipeline in excess of 10.0 GW. To learn more, please visit www.spower.com.

About AES: The AES Corporation (NYSE: AES) is a Fortune 200 global power company. We provide affordable, sustainable energy to 17 countries through our diverse portfolio of distribution businesses as well as thermal and renewable generation facilities. Our workforce of 19,000 people is committed to operational excellence and meeting the world’s changing power needs. Our 2016 revenues were $14 billion and we own and manage $36 billion in total assets. To learn more, please visit www.aes.com. Follow AES on Twitter @TheAESCorp.

About AIMCo: AIMCo is one of Canada’s largest and most diversified institutional investment managers with more than $100 billion of assets under management. AIMCo was established on January 1, 2008 with a mandate to provide superior long-term investment results for its clients. AIMCo operates at arms-length from the Government of Alberta and invests globally on behalf of 32 pension, endowment and government funds in the Province of Alberta. For more information on AIMCo please visit www.aimco.alberta.ca.

Fir Tree Partners Media Contact
Taylor Ingraham
203-992-1230

Photo courtesy of sPower

SPE Finance LLC, an affiliate of Serruya Private Equity (SPE), has agreed to exchange its secured term loan to Second Cup Ltd (TSX: SCU) for equity. The $8 million loan, provided to the Toronto-based specialty coffee retailer last December, will be converted to common shares for four SPE shareholders. As a result, each of the shareholders will hold about 6.9 percent of Second Cup’s outstanding common shares or 7.2 percent if related warrants are exercised. Taken together, SPE shareholders will hold up to 28.89 percent of shares and have the right to nominate two board members with the deal’s close next month. SPE is a Canadian family office.

PRESS RELEASE

Second Cup Announces Exchange of $8 million Term Loan for Common Shares at $1.90 per Share

MISSISSAUGA, ON, July 31, 2017 /CNW/ – The Second Cup Ltd. (TSX: SCU) (Second Cup or the Company) announced today that SPE Finance LLC (SPE), an affiliate of Serruya Private Equity, and its four shareholders have agreed to exchange SPE’s $8.0 million secured term loan for common shares of Second Cup. In December 2016, Second Cup entered into a four-year, $8.0 million secured term loan with SPE. The transaction will result in annual cost savings for Second Cup of approximately $960,000.

The Company will issue a total of 4,210,528 common shares to the four shareholders of SPE in full satisfaction of the term loan. Second Cup will also cancel 300,000 of the 600,000 common share purchase warrants issued to SPE in connection with the term loan, and SPE will distribute the remaining 300,000 warrants to its four shareholders pro rata. Following completion of the debt exchange, each of the four SPE shareholders will hold approximately 6.9% of the outstanding common shares of Second Cup (including common shares currently held by it), or approximately 7.2% assuming the exercise of the warrants to be distributed to it.

Transaction Highlights:

Exchange of $8.0 million debt to equity at $1.90 per common share, representing a 24.2% premium to the closing market price on July 31, 2017 and a 15.5% premium to the 20-day VWAP
$800,000 savings in annual interest expense
An estimated $160,000 savings on account of a reduction in annual board retainer fees
Cancellation of 50% of the warrants previously issued to SPE
Nomination rights for two directors
Two-year standstill by SPE and its four shareholders
Pre-emptive rights for future equity issuances

Approval of the Company’s shareholders is required for the Debt Exchange Transaction under the rules of the Toronto Stock Exchange (the “TSX”) as the TSX has determined that the transaction will have a material effect on control of the Company pursuant to section 604(a) of the TSX Company Manual since the SPE shareholders collectively will hold approximately 28.89% of the outstanding common shares of the Company assuming full exercise of the warrants. The TSX has agreed that such approval may be obtained by way of written consents in lieu of a meeting. The Company confirms that it has received approval from shareholders owning more than 50% of the issued and outstanding common shares, excluding the shares held by the SPE shareholders.

The Debt Exchange Transaction is expected to close on or after August 10, 2017.

“This is a tremendous boost for Second Cup and a strong expression of confidence by the Serruya family, who will now be fully aligned as shareholders,” said Michael Bregman, Chairman of the Board, Second Cup. “The issuance of shares at a 24.2% premium to current market price, is a reflection of the considerable potential at Second Cup. Over the past few months, we have benefitted from our relationship with the Serruyas, as value added investors. This marks an important step forward in our relationship. After completing this transaction, Second Cup will be debt free with approximately $3 million in cash and close to $1 million in reduced annual expenses. This provides Second Cup with a much improved financial foundation, upon which to build for the future.”

“We have great confidence in Second Cup and its leadership,” said Michael Serruya, Managing Director at SPE. “By converting our debt to equity, we are fully aligned to participate in future value creation. Already we are seeing signs of progress as we work together with Second Cup. One example is the introduction of our Pinkberry brand in four Second Cup stores. Early results suggest this may be one of many opportunities to generate future growth.”

The two nominees of the SPE shareholders will be appointed as directors of the board of Second Cup upon closing of the debt exchange transaction.

Second Cup is also pleased to announce that Paul W. Phelan will be appointed to the board of directors of the Company upon closing of the debt exchange transaction. Mr. Phelan will sit on the board as the nominee of PDPJJHP Ontario Limited, a holding company controlled by members of the Phelan family, the Company’s second-largest shareholder upon completion of the debt exchange.

About Second Cup Coffee Co.™

Founded in 1975, The Second Cup Ltd. is a Canadian specialty coffee retailer operating over 290 franchised and company owned cafes in Canada. The company’s vision is to be the coffee brand most passionately committed to quality and innovation. For more information, please visit www.secondcup.com or find the company on Facebook and Twitter.

About Serruya Private Equity

Serruya Private Equity Inc. (SPE) is a Toronto-area based, family managed group that invests capital in a broad range of asset classes, with an emphasis on retail and real estate. SPE’s principals have a heritage of experience developing brands and its affiliates currently include global brands Yogen Fruz, Pinkberry and Swensens, with over one billion dollars of worldwide system revenue.

For more information please contact info@serruyaequity.com

For further information: Ba Linh Le, Chief Financial Officer, (905) 362-1827 or investor@secondcup.com

Photo courtesy of The Second Cup Ltd

Montréal clinical-stage cardiovascular company Milestone Pharmaceuticals Inc has secured more than $68 million (US$55 million) in a Series C financing. The round, which brings Milestone’s total funding to more than $100 million, was led by Denmark’s Novo Holdings A/S. It was joined by new and existing investors, including Forbion Capital Partners, Tekla Capital Management, Domain Associates, Fonds de solidarité FTQ, BDC Capital, Pappas Capital and GO Capital. The funds raised will be used to advance Milestone’s lead product, etripamil, into Phase 3 and pre-launch development. Founded in 2005, Milestone is led by President and CEO Joseph Oliveto.

PRESS RELEASE

Milestone Pharmaceuticals Closes $55 Million Series C Financing

– Proceeds to Fund Etripamil Phase 3 Development and Pre-Launch Market Development –

MONTREAL, August 1, 2017 /PRNewswire/ — Milestone Pharmaceuticals Montreal, Canada, Inc., a clinical stage cardiovascular company, today announced the completion of a US$55 million Series C financing. The round was led by Novo Holdings A/S, and included new investors Forbion Capital Partners and funds managed by Tekla Capital Management, with significant participation from Milestone’s existing investors Domain Associates, Fonds de solidarité FTQ, BDC Capital, Pappas Capital, and GO Capital.

The funding will be used to advance etripamil, the company’s lead product, into Phase 3 development including the execution of pivotal and supportive clinical trials, the production of clinical and commercial supplies and pre-launch commercialization activities. Additionally, the funding will be used to expand the company’s resources including select additional headcount and advisory support in strategic areas including Marketing and Medical Affairs. Etripamil is a novel, potent, short-acting calcium channel blocker developed as a fast-acting nasal spray that can be administered by the patient to terminate paroxysmal supraventricular tachycardia (PSVT) episodes wherever and whenever they occur. In May 2017, at the Heart Rhythm Society’s 38th Annual Scientific Late Breaker Session, Milestone presented results from its Phase 2 trial (NODE-1) which showed that etripamil demonstrated statistically significant efficacy compared to placebo for the acute termination of PSVT induced in an electrophysiology laboratory.

“Following our successful Phase 2 study results, we have been actively planning for the progression of etripamil into the next phase of development to further evaluate its potential as the only patient-administered treatment for the acute termination of paroxysmal supraventricular tachycardia,” said Joseph Oliveto, Milestone’s President and Chief Executive Officer. “With financing in place by such seasoned and well-respected healthcare investors, Milestone is well positioned to advance and optimize this cutting-edge, novel approach for treating PSVT and potentially reduce the associated frequency of expensive emergency room visits and patient burden it causes each year.”

In conjunction with this financing, joining Milestone’s Board of Directors will be Nilesh Kumar, PhD, of Novo Ventures US Inc., which provides consulting services to Novo Holdings A/S, and Marco Boorsma, PhD, of Forbion Capital Partners. Daniel Omstead of Tekla Capital Management will be an observer to the Board of Directors.

“We are excited to join Milestone in the development of a novel approach for the treatment of PSVT,” said Nilesh Kumar, Partner, Novo Ventures. “There is a significant unmet need in the treatment of this condition and, with strong Phase 2 data, we look forward to seeing etripamil progress in pivotal trials.”

“We welcome colleagues from Novo, Forbion and Tekla to our existing investor group which supported Milestone through achievement of proof of concept in its Phase 2 program,” said Didier Leconte, Senior Director Investments, Life Science, Fonds de solidarité FTQ. “We look forward to working together as Milestone builds future value and executes the Phase 3 plan.”

About Etripamil
Etripamil is a novel, potent, short-acting calcium channel blocker developed as a fast-acting nasal spray that can be administered by the patient to terminate paroxysmal supraventricular tachycardia (PSVT) episodes wherever and whenever they occur. A Phase 2 clinical trial (NODE-1) was successfully completed in the United States and Canada. Information regarding the NODE-1 clinical trial may be found at www.clinicaltrials.gov (study identifier NCT02296190). Milestone is actively recruiting clinical sites for a Phase 3 trial of etripamil in the at-home setting enrolling patients with confirmed diagnosis of atrioventricular nodal reentrant tachycardia (AVNRT) and atrioventricular re-entry tachycardia (AVRT). Etripamil is not currently approved for the treatment of PSVT or for any other indication anywhere in the world.

About Paroxysmal Supraventricular Tachycardia
Paroxysmal supraventricular tachycardia is a condition that afflicts approximately 1.7 million people and results in over 600,000 healthcare claims in the US alone per year. During a PSVT episode, patients may feel palpitations while heart rate increases dramatically and can exceed 200 beats per minute. Although the condition is not life threatening, it causes great distress to the patient and often results in a visit to a hospital emergency room where the patient is usually administered intravenous drugs and monitored until the symptoms resolve.

About Novo Holdings A/S
Novo Holdings is a private Danish limited liability company wholly owned by the Novo Nordisk Foundation. The company is the holding company in the Novo Group, comprising Novo Nordisk A/S, Novozymes A/S and NNIT A/S, and is responsible for managing the Foundation’s assets. In addition to being the major shareholder in the Novo Group companies, Novo Holdings provides seed and venture capital to development-stage companies, takes significant ownership positions in well-established companies within life science and manages a broad portfolio of financial assets. Read more at www.novoholdings.dk.

About Forbion Capital Partners
Forbion Capital Partners is a dedicated life sciences venture capital firm with offices in The Netherlands and Germany. Forbion invests in life sciences companies across the pharmaceutical as well as the medical device space. Its investment team has built an impressive performance track record since the late nineties with successful investments in over 60 companies. Forbion manages well over EUR 750M (USD 850M) across nine funds. Its investors include the EIF, through its European Recovery Programme (ERP), LfA and Dutch Venture Initiative (DVI) facilities and the KFW through the ERP – Venture Capital Fondsfinanzierung facility. Forbion also has a partnership with BioGeneration Ventures, who manage three separate seed and early stage funds focused on the BeNeLux.

About Tekla Capital Management LLC
Tekla Capital Management LLC is a registered investment adviser based in Boston, Massachusetts and is the investment adviser for four closed-end funds, Tekla Healthcare Investors, Tekla Life Sciences Investors, Tekla Healthcare Opportunities Fund and Tekla World Healthcare Fund. The Funds predominately invest in the securities of public and private healthcare companies.

About Domain Associates
Founded in 1985, Domain was one of the first venture capital firms to exclusively invest in the life sciences sector. Today, with more than $2.7 billion in capital raised, Domain has been a trusted partner in life sciences investing, helping more than 260 companies develop novel medical products to advance human health. Read more at www.domainvc.com.

About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ is a development capital investment fund that channels the savings of Quebecers into investments. As of May 31, 2017, the organization had $13.1 billion in net assets, and through its current portfolio of investments has helped create and protect 186,440 jobs. The Fonds is a partner in more than 2,700 companies and has 645,664 shareholder-savers. Please visit www.fondsftq.com for more information.

About BDC Capital
A subsidiary of the Business Development Bank of Canada (BDC), BDC Capital offers a full spectrum of specialized financing and investment solutions to help Canadian entrepreneurs achieve their full growth potential. With more than $1.6 billion under management, BDC Capital takes a strategic, patient approach to nurture companies’ development over the long term. BDC Capital’s Healthcare Venture Fund invests in transformative Canadian companies that dramatically increase healthcare productivity by reducing healthcare costs while improving patient health and the experienced team invests in drugs, devices, diagnostics and digital health sectors.

About Pappas Capital
Founded in 1994, Pappas Capital invests exclusively in the life sciences sector – biotechnology, biopharmaceuticals, drug delivery, medical devices and related ventures – across the United States and Canada. Since 2014, three portfolio companies founded or co-founded by Pappas have been sold to large pharmaceutical companies: CoLucid Pharmaceuticals, bought in March 2017 by Eli Lilly for nearly $1 billion; Afferent Pharmaceuticals, for which Merck paid $500 million upfront and $750 million in milestones; and Lumena Pharmaceuticals, purchased by Shire for more than $300 million. For additional information, visit www.pappas-capital.com.

About Milestone Pharmaceuticals
Milestone, with headquarters in Montreal, Canada and a US subsidiary in Charlotte, NC, is a clinical stage drug development company focused on developing etripamil, a calcium channel blocker intended to provide fast-acting and short-acting treatment of PSVT episodes. For more information, please visit www.milestonepharma.com.

Contact:

David Pitts
Argot Partners
212-600-1902
david@argotpartners.com

Photo courtesy of BrianAJackson/iStock/Getty Images

Stingray Digital Media Group Inc (TSX: RAY.A-B) has bought SBA Music PTY Ltd, a Sydney, Australia-based provider of in-store media solutions. No financial terms were released. Stingray, a multi-platform music services specialist, said the integration of SBA into its in-store media operation will support expansion in the Asia-Pacific market. Montréal-based Stingray raised $180 million in an initial public offering in 2015. It continues be a portfolio company of Caisse de dépôt et placement du Québec, Novacap, Telesystem and other investors.

PRESS RELEASE

Stingray Grows its In-Store Media Solutions for Businesses Division in the Asia-Pacific Region

Stingray Acquires Australia’s SBA Music PTY Ltd.

MONTREAL, QUEBEC–(Marketwired – July 31, 2017) – Stingray (TSX:RAY.A)(TSX:RAY.B), a leading business-to-business multiplatform music provider, today announced that it has acquired a leading Australian provider of in-store media solutions, SBA Music PTY Ltd. (SBA). Stingray, through its Stingray Business division, is already an in-store media market leader in Canada and in Mexico.

This agreement follows the December 2015 acquisition of Digital Music Distribution PTY. Ltd. (DMD), one of Australia’s most prominent digital music service providers, and the extension of the distribution agreement with local pay TV provider Foxtel, proving Stingray’s commitment to growing its presence in the strategic Asia-Pacific market.

Under the terms of the agreement, Stingray will fully own and operate SBA with the continued direction of the current leadership.

SBA Highlights
SBA is one of Australia’s leading background music suppliers, providing tailored music experiences to over 2,000 Australian businesses and their customers. The company provides a range of online and offline background music systems and apps which, together with customized content to build customers’ brands, greatly enhance the retail environment.
Over 20 years of expertise as a background music provider.
Services include music programming, licensing, and distribution.
Solutions offered through numerous platforms, including a mobile app and multimedia player.
Channels curated by SBA’s in-house music programming team.
Clients include McDonald’s, Barbeques Galore, and Lorna James.
For more information: http://www.sbamusic.com.au

Quotes
“While many may know Stingray as the leading provider of multiplatform music services for entertainment content providers, our in-store media solutions division, Stingray Business, is also a driving force for company growth,” said Eric Boyko, President, Co-founder, and CEO of Stingray. “By acquiring and integrating SBA into Stingray Business, we guarantee the expansion of our service into the Asia-Pacific market. We are excited by the opportunity to leverage the expertise and market knowledge of the team in place and welcome them wholeheartedly to the Stingray family.”

About Stingray
Stingray (TSX:RAY.A)(TSX:RAY.B) is a leading business-to-business multi-platform music and in-store media solutions provider operating on a global scale, reaching an estimated 400 million pay TV subscribers (or households) in 156 countries. Geared towards individuals and businesses alike, Stingray’s products include the following leading digital music and video services: Stingray Music, Stingray Concerts, Stingray iConcerts, Stingray Brava, Stingray DJAZZ, Stingray Music Videos, Stingray Lite TV, Stingray Ambiance 4K, Stingray Karaoke, NatureVision TV, Yokee Music, Festival 4K, Stingray Loud, Stingray Juicebox, Stingray Vibe, Stingray Retro, and Classica. Stingray also offers various business solutions, including music and digital display-based solutions, through its Stingray Business division. Stingray is headquartered in Montreal and currently has close to 350 employees worldwide, including in the United States, the United Kingdom, the Netherlands, France, Israel, Australia, South Korea, and Singapore. Stingray was recognized in 2013 and 2014 as a finalist in the Top 50 of Deloitte’s Technology Fast 50TM list, and figures amongst PROFIT magazine’s fastest-growing Canadian companies. In 2016, Stingray was awarded best IR for an IPO at the IR Magazine Awards – Canada. For more information, please visit www.stingray.com.

CONTACT INFORMATION
Mathieu Peloquin
Senior Vice-President, Marketing and Communications
Stingray
1 514-664-1244, ext. 2362
mpeloquin@stingray.com

Photo courtesy of Stingray Digital Media Group

Dollars invested in the global financial technology sector more than doubled quarter over quarter in Q2 2017 to US$8.4 billion, according to a report by KPMG. The KPMG Pulse of Fintech report found M&A deal-making led global trends in this period with US$5.9 billion in deal value, while venture capital investment activity declined slightly at just over US$2.5 billion. In the Americas region, a single deal, the acquisition of Toronto’s DH Corp by Vista Equity Partners, accounted for more than half the total fintech funding in the second quarter. This deal aside, most fintech investment was located in the United States and Europe.

PRESS RELEASE

Global fintech investment rebounds in Q2’17: KPMG Pulse of Fintech Report

Total global funding to fintechs doubles over Q1’17 to US$8.4 billion, buoyed by strong M&A activity

US and Europe each see US$2 billion in funding to fintechs

TORONTO, Aug. 1, 2017 /CNW/ – Total global fintech investment more than doubled quarter over quarter in Q2’17 to US $8.4 billion, up from US$3.6 billion in Q1’17, according to the KPMG Pulse of Fintech report.*

Global M&A investment helped drive the fintech market rebound, with US$5.9 billion in deal value for M&A for the quarter. Comparatively, global VC funding to fintech companies declined slightly, with just over US$2.5 billion in VC funding raised by fintechs in the quarter.

In the Americas, a single deal – the buyout of Toronto-based DH – accounted for US$3.6 billion in deal value, contributing to more than half the total fintech funding during Q2’17. This deal aside, the US and Europe saw the vast majority of fintech investment, with each accounting for US$2 billion. Asia lagged significantly behind the other regions with US$760 million invested. A lack of significant megadeals in Asia likely kept investment relatively weak this quarter.

“Fintech investment has made a comeback this quarter – a sign of renewed investor intent – particularly in the US and Europe,” said Ian Pollari, Global Co-Leader for Fintech, and a partner for KPMG Australia. “Corporates are increasingly accounting for significant amounts of fintech investment – a trend that isn’t likely to let up given the need for financial institutions to digitize the customer experience, become more cost efficient, and find new sources of earnings growth.”

Key Q2’17 highlights

Total fintech investment increased from US$3.6 billion in Q1’17 to US$8.4 billion in Q2’17.
VC funding remained solid globally with US$2.5 billion invested across 227 deals.
At mid-year, the global median VC fintech deal size of US$12 million for late-stage deals was substantially lower compared to the 2016 total of US$18 million. The median deal size was up for angel/seed stage deals (US$1.3 million) and for early-stage rounds (US$6.2 million).
Corporate VC investment in fintech is on pace to near 2015’s total, with US$2.6 billion invested in deals with corporate participation by the end of Q2’17, compared to US$9 billion in all of 2016, which was skewed by mega-deals. Corporate participation in fintech deals by volume is also up – with 21 percent participation in 2017 deals so far compared to 17 percent in 2016.
Investment in regtech was up significantly in Q2’17, with the US$591 million invested in the first half of 2017 already exceeding the US$583 million raised during all of 2015, and on pace to significantly exceed 2016’s total by year end.
Business-to-business (B2B) fintech companies are getting a significant amount of attention, with three companies in the top10 global fintech deals this quarter: CCH Tagetik (US$321 million), Pos Portal (US$158 million) and ITRS Group (US$140 million).
Americas region posts strong fintech results for Q2’17, buoyed by single Canadian buyout and broad US investment

The Americas region led in fintech funding for the quarter, lifted by the US$3.6 billion buyout of Toronto-based payments company DH by US-based Vista Equity Partners. The deal is the largest takeover of a Canadian company by a foreign firm since 2014.

Excluding the DH deal, the US continued to lead the pace in the Americas. The US saw US$2 billion in fintech investment during Q2’17, including five of the top 10 fintech deals globally – AvidXchange (US$300 million), Bright Health (US$160 million), Pos Portal (US$158 million), Fast Match (US$153 million) and Addepar (US$140 million). Strong PE and VC investment helped drive the fintech funding increase in the US, with VC investment rising to over US$1.5 billion across 105 deals.

European fintechs funding increases overall, but VC specific funding drops significantly

Europe saw US$2 billion in fintech investment during Q2’17, a significant four-quarter high although well below the peak investment high of US$5.8 billion seen in Q4’15. Deal volume in the region declined from 110 to 90 quarter over quarter, still relatively strong historically.

Median VC deal size in Europe continued to be significantly higher than 2016’s US$10.2 million, with a median of US$15.9 million at the late stage as of the end of Q2’17. Median VC deal sizes also remain higher relative to 2016 at the early stage (US$5.4 million) and angel/seed stage (US$1.2 million).

The UK saw a major positive move one year following the Brexit referendum, with US$1.4 billion in total fintech funding in Q2’17, a six-quarter high, and over US$1 billion more than the Q1’17 tally.

Asia funding holds steady amid continued absence of megadeals

Total fintech funding in Asia remained relatively steady quarter over quarter, with US$760 million invested across 51 deals during Q2’17, compared to US$790 million across 56 deals in Q1’17. Asia’s Q2 fintech financing trends were characterized by geographic diversity and a lack of mega-financings.

China notched nine transactions (VC and M&A) for a total of US$282 million in deal value, a slight uptick from the seven closed in Q1’17. Despite a decline in deal value, India recorded 19 deals and remains on pace to post an impressive year for fintech investment.

Corporate participation continues to soar in the region, with CVC investment growing from a strong 22.5 percent in Q1’17 to a record high of 36.6 percent in Q2’17, revealing a deep interest in fintech innovation from strategic players in Asia.

“Fintech continues to evolve with many established fintechs looking to expand their product offering and their geographic reach,” said Brian Hughes, Co-Leader, KPMG Enterprise Innovative Startups Network, and National Co-Lead Partner, KPMG Venture Capital Practice, KPMG in the US. “In addition we are also seeing new fintechs moving beyond customer facing services to target mid and back office inefficiencies.”

*Data for the Pulse of Fintech report provided by PitchBook.

About KPMG Fintech

The Financial Services sector is transforming with the emergence of innovative products and solutions. This wave of innovation is primarily driven by changing customer expectations and continued regulatory and cost pressures. KPMG is passionate about supporting our clients to successfully navigate this transformation, working directly with emerging fintechs through 30 global fintech hubs. KPMG also brings its global fintech insight to financial institutions, helping them fully realize the potential fintech has to grow their business, meet customer demands, and help them stay relevant and competitive.

About KPMG Enterprise

You know KPMG, you might not know KPMG Enterprise. We’re dedicated to working with businesses like yours. It’s all we do. Whether you’re an entrepreneur, a family business, or a fast growing company, we understand what’s important to you.

The KPMG Enterprise global network for Innovative Startups has extensive knowledge and experience working with the startup ecosystem. From seed to speed, we’re here throughout your journey. You gain access to KPMG’s global resources through a single point of contact—a trusted adviser to your company. It’s a local touch with a global reach.

About KPMG International
KPMG is a global network of professional firms providing Audit, Tax and Advisory services. We operate in 152 countries and have more than 189,000 people working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.

For further information: Kent Miller, KPMG International, +1 908 313 5037, ktmiller@kpmg.com

Photo courtesy of koo_mikko/iStock/Getty Images

Toronto-based sales financing company Flexiti Financial has raised $6.25 million in a convertible debentures offering. The source of the funding was not disclosed. Flexiti, which offers point-of-sale financing and payment technology to retailers, said the funds raised will support continued growth and development of its platform. Founded in 2013 by CEO Peter Kalen, Flexiti reports its platform is currently used in more than 1,500 merchant locations and by more than 10,000 Canadian customers. The company closed a $5 million Series A financing last November.

PRESS RELEASE

Flexiti Financial Announces Closing of $6.25M Convertible Unsecured Debentures Offering

TORONTO, Aug. 1, 2017 /CNW/ – Flexiti Financial, a leading provider of point-of-sale (POS) financing and payment technology for retailers, is pleased to announce the closing of an oversubscribed $5M convertible debentures offering. Oversubscription amounts totaled an additional $1.25M of aggregate principal, for a total investment of $6.25M. These funds will allow Flexiti Financial to accelerate its rapid growth and further develop the company’s award-winning POS lending platform technology, which is currently adopted in over 1,500 merchant locations and used by over 10,000 customers across Canada.

“Retailers across Canada are looking for unique solutions to increase sales and maintain customer loyalty in a highly competitive and shifting market,” says Peter Kalen, Founder and CEO, Flexiti Financial. “Flexiti Financial’s POS lending platform has become an important tool in their sales arsenal, and this investment will help us better serve our retail partners while managing our growth across Canada.”

Flexiti Financial’s award-winning POS financing platform provides instant financing on any device, anywhere, and instant credit approval in three minutes. Flexiti Financial’s unique technology, advanced algorithm and customer service allow retailers to offer customized payment plans at interest rates significantly below current credit options on the market, and confidently approve more people than a typical financial institution.

About Flexiti Financial
Flexiti Financial is a Canadian sales financing company founded in 2013. We help retail businesses increase sales by providing instant consumer financing at the Point-of-Sale (POS), with higher approval rates and superior customer service compared to other providers. Using Flexiti Financial’s award-winning mobile application process, customers can apply for financing and receive approval within minutes – no paperwork, no scanning and mailing, plus retailers get paid within two business days. Today, over 10,000 customers use Flexiti financing in over 1,500 locations across Canada. The company was named Best Emerging Consumer Lending Platform by LendIt, which recognizes Flexiti Financial’s platform as having the greatest potential to impact the future of consumer lending. Flexiti Financial is backed by some of Canada’s leading investors including Globalive Capital Inc. For more information, visit www.flexitifinancial.com.

For further information: Media Contact: Jason Kinnear, jkinnear@flexitifinancial.com, 647-291-8026

Photo courtesy of Flexiti Financial Inc

Toronto reservations and ticketing software platform Betterez Inc has raised a strategic investment from JetBlue Technology Ventures (JTV), the venture capital arm of JetBlue Airways Corp (NASDAQ: JBLU), a U.S. discount airline. No financial terms were released. The deal follows the company’s seed financing in March, led by the venture fund of Amadeus IT Group. Launched in 2011 by CEO Tal Shalit, Betterez helps modernize bus and motorcoach operators by digitizing their businesses and introducing online booking, mobile ticketing and e-commerce. It said the JTV partnership will support continued growth and innovation.

PRESS RELEASE

Reservations & Ticketing Management Startup, Betterez, Announces Strategic Investment by JetBlue Technology Ventures

August 01, 2017

NEW YORK–(BUSINESS WIRE)–Betterez, a startup that is quickly becoming North America’s leading Reservations & Ticketing (RTM) platform for bus and motorcoach service providers, today announces a strategic investment by JetBlue Technology Ventures (JTV), the venture capital subsidiary of JetBlue (NASDAQ:JBLU).

Launched in 2011, Betterez works with companies across the globe to transform the ground transportation experience. Its next generation RTM platform helps operators modernize their ticketing systems, grow business and run operations more efficiently. Currently numerous bus and motorcoach providers in several countries around the world have moved into the digital age, thanks to the technology provided by Betterez.

“The strategic investment by JTV and our recent impressive growth signals that the ground transportation reservations and ticketing industry is in need of modernization,” says Tal Shalit, founder & CEO, Betterez. “The participation by JTV, in addition to a recent investment round from Amadeus Ventures – the travel venture fund of Amadeus IT Group – and industry veteran Mr. Donald J. Carty, former chairman and CEO of American Airlines, position us well for further growth and innovation.”

Launched in February 2016, JetBlue Technology Ventures invests in, incubates and partners with early stage startups at the intersection of technology and travel. In addition to financial investment, JTV brings deep domain expertise in the travel technology ecosystem to Betterez.

“Tal Shalit and his team have years of experience in the transportation industry starting in aviation and moving into ground transportation,” said Bonny Simi, president of JetBlue Technology Ventures. “With a single flexible platform, Betterez is transforming the bus and motorcoach industry by digitizing their businesses and bringing online booking, mobile ticketing and e-commerce to an industry ripe for innovation. Eventually we can imagine seamless booking and connections between airlines and ground transportation providers.”

About Betterez

Betterez, founded in 2011, is a next generation Reservations & Ticketing Management (RTM) technology company focused on helping motorcoach, tour and multi-use ticketing Operators grow their businesses, and run operations and finance more efficiently. For more information, visit: www.betterez.com.

About JetBlue Technology Ventures

JetBlue Technology Ventures invests in, incubates and partners with early stage startups at the intersection of technology and travel to improve the entire travel experience. The company prioritizes investments that advance the customer-centric journey; technology empowered customer service; the future of operations and maintenance; revenue management, sales & distribution; and new regional transport ecosystems. Founded in 2016, JetBlue Technology Ventures is a whollyowned subsidiary of JetBlue (NASDAQ: JBLU) and is located in Silicon Valley, Calif. For more information, visit JetBlueVentures.com.

Contacts
Betterez
Sharon Lassman
sharon@betterez.com

Photo courtesy of JetBlue Airways Corp

Canadian private equity firm Ironbridge Equity Partners has invested in A V Gauge & Fixture Inc, an Oldcastle, Ontario maker of specialized gauging and check fixture equipment for the automotive industry. No financial terms were disclosed. Founded in 1985, AV Gauge supplies most major OEMs and Tier-I’s and operates in eight facilities across Canada, United States and Mexico. The partnership with Ironbridge will help the company grow and diversify, CEO Denis Levasseur said. Ironbridge invested in AV Gauge through Ironbridge Equity Partners II and Ironbridge Equity Partners III. Fund III closed last year at its hard cap target of $238 million.

PRESS RELEASE

Ironbridge Equity Partners completes partnership with A V Gauge & Fixture Inc.

(Toronto – July 31, 2017) Ironbridge Equity Partners (“Ironbridge”) of Toronto, Ontario is pleased to announce that they, together with management, have partnered with A V Gauge & Fixture Inc. (“AV Gauge” or the “Company”) of Oldcastle, Ontario.

A V Gauge & Fixture Inc. is a leading manufacturer of specialized gauging and check fixture equipment for the automotive industry. Founded in 1985, the Company supplies most major OEMs and Tier-I’s and operates in eight facilities across Canada, United States and Mexico. Vertically integrated, AV Gauge strives to employ the best people, utilize the latest technologies and adopt the most efficient processes to satisfy customers. The Company was named as one of Canada’s Best Managed Companies in 2017.

“We are very impressed with the Company’s breadth of in-house capabilities and operating efficiency. This has made AV Gauge a market leader.” said Peter Samson, Managing Partner at Ironbridge. “They have an outstanding reputation in the marketplace for on-time delivery of high-quality products for the most complex jobs. We believe this provides an excellent platform for future growth.”

“The Ironbridge team has a proven history of success, and will work with us to help execute our strategy to continue to grow and diversify,” said Denis Levasseur, CEO of AV Gauge. “We believe that Ironbridge’s operating expertise and business experience gives us the additional resources to further scale and grow AV Gauge by maintaining our commitment to delivering the highest-quality product to our customers.”

Ironbridge is investing in AV Gauge jointly through the firm’s two most recent funds: Ironbridge Equity Partners II, LP, a fully-committed $154 million fund; and, Ironbridge Equity Partners III, LP, a fully-committed $238 million fund.

Ironbridge’s team of eleven investment professionals invests in Canadian lower middle-market businesses operating in a broad range of industries including manufacturing, distribution, and consumer and business products and services. The

Ironbridge team has extensive financial and operating experience and works closely with the management teams of its portfolio companies to enhance value.

CIBC acted as the exclusive financial advisor to AV Gauge in connection with the transaction.

For more information, contact:

Peter Samson
Managing Partner
Ironbridge Equity Partners
(416) 863-0102
www.ironbridgeequity.com

Denis Levasseur
CEO
A V Gauge & Fixture Inc.
(519) 737-7677
www.avgauge.com

Photo courtesy of A V Gauge & Fixture Inc

Enbala Power Networks has secured funding from Zoma Capital, the investment arm of a U.S. family office. It resulted in a second close of Enbala’s Series B financing, bringing the round’s total to $17.5 million. The initial close, announced earlier in 2017, was led by ABB Technology Ventures, with participation from National Grid, GE Ventures, Obvious Ventures, EnerTech Capital and Chrysalix Venture Capital. Vancouver-based Enbala provides distributed energy resource management software to make power grids greener and more efficient. Founded in 2003, the company is led by President and CEO Arthur “Bud” Vos.

Photo: Arthur “Bud” Vos, president and CEO of Enbala Power Networks.

PRESS RELEASE

Zoma Capital Invests in Enbala Power Networks

Colorado Investor Adds Distributed Energy Resource Management to its Clean Energy Investment Portfolio

Zoma’s investment in Enbala is the perfect alignment of philosophies and goals.

DENVER, CO (PRWEB) AUGUST 01, 2017

Enbala Power Networks, the leader in virtual power plant (VPP) and distributed energy resource management software (DERMS), announces that Zoma Capital has made a new investment in the company. The Zoma investment marks the conclusion of Enbala’s over-subscribed second close of Series B financing, bringing the Series B total to $17.5 million.

Zoma Capital is the investment arm for the family office of Ben and Lucy Ana Walton, based in Denver. Zoma Capital invests in a broad range of market-based sustainable solutions addressing environmental and social problems, with an emphasis on energy, water and community development and with a geographic focus on Colorado and Chile.

“Zoma and Enbala both have offices in Denver, and both are focused on building a sustainable energy future,” noted Enbala President and CEO Arthur “Bud” Vos. “Zoma’s investment in Enbala is the perfect alignment of philosophies and goals, and we welcome the investment to further expand our Symphony by Enbala platform.”

Other investors in the Series B include ABB Technology Ventures (NYSE: ABB), National Grid, GE Ventures (NYSE: GE), Obvious Ventures, EnerTech Capital and Chrysalix Venture Capital.

Melissa Cheong, Zoma’s Chief Investment Officer, said, “Our investment in Enbala will enable utilities, energy service companies and commercial enterprises to accomplish their common goal of more efficiently utilizing distributed and renewable energy resources. The investment in Enbala also supports Zoma’s organizational goal of having an impact within our local communities.”

About ENBALA Power Networks®
Enbala Power Networks is focused on making the world’s power grids greener and more reliable, efficient and predictable by harnessing the power of distributed energy. Enbala’s real-time energy-balancing platform is transforming energy system operations through its revolutionary, highly flexible approach for creating controllable and dispatchable energy resources.

It unobtrusively captures and aggregates available customer loads, energy storage and renewable energy sources to form a network of continuously controlled energy resources. The platform dynamically optimizes and dispatches these resources to respond to the real-time needs of the power system – all without impacting customer operations. For more information, visit http://www.enbala.com or follow us on Twitter at https://twitter.com/Enbala.

GINGER JUHL
JUHL COMMUNICATIONS
+1 720-323-6560
Email >

Canadian private equity firm Clairvest Group has completed its sale of CRS Contractors Rental Supply LP to Sunbelt Rentals, a North American affiliate of the United Kingdom’s Ashtead Group plc. The deal, announced last month, reflected a purchase price of $275 million plus a potential earn-out. Clairvest, which invested in CRS in 2013, said it realized an internal rate of return of 31 percent over the life of the investment. Based in Kitchener, Ontario, CRS is a provider of construction equipment rentals, sales and related services.

PRESS RELEASE

Clairvest Completes Sale of CRS

TORONTO, Aug. 02, 2017 (GLOBE NEWSWIRE) — Clairvest Group Inc. (TSX:CVG) (“Clairvest”) today announced that it and Clairvest Equity Partners IV (“CEP IV”) completed the sale of their units of CRS Contractors Rental Supply (“CRS”) to Ashtead Group plc business Sunbelt Rentals of Canada Inc. (“Sunbelt”).

CRS is a leading provider of construction equipment rental, sales and related services throughout the Province of Ontario. Over the life of the investment, Clairvest and CEP IV realized an internal rate of return (“IRR”) of 31%. The sale has a positive impact on Clairvest’s value per share of approximately $0.17 versus the carrying value at March 31, 2017.

Since Clairvest partnered with the founders and management team of CRS in February 2013, the company substantially grew its rental fleet, branch network and EBITDA, all while maintaining a relentless focus on best in class customer service.

“By investing alongside the CRS leadership team as equity partners, Clairvest preserved the service first mentality that has always differentiated CRS in the market,” commented Steve Fay, Chairman of CRS. “Clairvest’s contributions included the development of a strong platform for safety, finance, technology, and talent management. They also emphasized a culture of aggressive investment and high return on capital for our rental fleet. I am very proud of what we have achieved together.”

“Our successful partnership with CRS is a terrific example of Clairvest’s investment approach. The leadership team was heavily invested and this culture of ownership created a competitive advantage for CRS,” said Mitch Green, Managing Director at Clairvest. “We are proud of the results generated by the entire CRS team and are excited that the organization will continue to thrive with Sunbelt,” added Mr. Green.

Catalyst Strategic Advisors acted as exclusive strategic and financial advisor to CRS and its Board of Directors in this transaction.

About Clairvest
Clairvest Group Inc. is a private equity management firm that invests its own capital, and that of third parties through the Clairvest Equity Partners limited partnerships, in businesses that have the potential to generate superior returns. In addition to providing financing, Clairvest contributes strategic expertise and execution ability to support the growth and development of its investee partners. Clairvest realizes value through investment returns and the eventual disposition of its investments.

Contact Information
Maria Klyuev
Director, Investor Relations and Marketing
Clairvest Group Inc.
Tel: (416) 925-9270
Fax: (416) 925-5753
mariak@clairvest.com

Photo courtesy of CRS Contractors Rental Supply LP