Toronto-based Interaxon Inc., maker of the Muse headset for brainwave-controlled computing, has raised a Series A financing totaling US$6 million, according to Reuters based on a report by John Koetsier of VentureBeat. The announcement was made by the company's CEO Ariel Garten at the August Grow Conference in Vancouver. Investors in the round included OMERS Ventures, Horizon Ventures, ff Venture Capital, Felicis Ventures and Ashton Kutcher’s investment company A-Grade Investments. Founded in 2007, Interaxon previously raised seed-stage funding and almost US$300,000 via an Indiegogo crowdfunding campaign.
1 min read · 16 August 2013
The acquisition of Montréal-based Thallion Pharmaceuticals Inc. by drug discovery company BELLUS Health Inc. for $6.3 million has been completed. Thallion, which develops pharmaceutical products in the areas of infectious disease and oncology, was formed in 2007 through the merger of Ecopia Biosciences Inc. and Caprion Pharmaceutical Inc. It was backed by the Fonds de solidarité des travailleurs du Québec FTQ and other investors.
4 min read · 16 August 2013
Highland Therapeutics Inc., a Toronto-based specialty pharmaceutical company, has secured US$6.7 million in financing. Investors included Highland's clinical development group, which is responsible for the manufacturing and development of the company's two lead compounds. Funding will be used to conduct clinical studies, market research to develop commercialization strategies, and other purposes. Highland Therapeutics is a tenant at innovation hub MaRS Discovery District.
5 min read · 16 August 2013
Toronto-based venture capital firm Pinetree Capital said Friday that it has acquired a stake in Santana Resources Inc. No financial terms were disclosed by the firm. Based in Vancouver, Santana Resources is a mineral and exploration company. Update: The company, which is focused on its Watershed prospective gold exploration property located between Sudbury and Timmins in Ontario, has estimated the Pinetree investment to total approximately $800,000.
2 min read · 16 August 2013
Dickinson Wright, a full-service law firm, said Friday that Alan Litwack will be joining the firm’s Toronto office as a partner. Litwack's practice is focused on corporate/commercial matters with an emphasis on M & A, securities and capital markets. He is a member of the Canadian Bar Association and the Law Society of Upper Canada.
2 min read · 16 August 2013
Leonard Green & Partners LP is exploring a sale of Brickman Group Holdings Inc that could value the largest commercial landscaping company in the United States at up to $1.5 billion, three people familiar with the matter told sister news service Reuters.
1 min read · 16 August 2013
Eagle Hill Exploration Corp., a Vancouver-based mineral exploration company, said Thursday that it has completed a $12 million private placement with Southern Arc and Dundee Corp. Under terms of the transaction, Southern Arc invested $7,324,050 to acquire 97,654,000 units of Eagle Hill at a price of $.75 per share. Dundee Corp. invested $4,675,950 to acquire an additional 62,346,000 shares of Eagle Hill, increasing its ownership stake in Eagle Hill from 18.8% to 26.14%. Headquartered in Vancouver, Southern Arc Minerals is a mineral exploration company focused on gold and copper-gold exploration. Dundee Corp., which is based in Toronto, is a holding company that includes among its subsidiaries, Goodman & Company and Investment Counsel.
4 min read · 15 August 2013
Birch Hill Equity Partners Inc, a Canadian private equity fund, has registered to lobby Ottawa over investment in wireless carriers, lending credence to the idea it wants to buy two small wireless firms and elbow aside a possible move into the Canadian market by Verizon Communications Inc., Reuters reported.
3 min read · 15 August 2013
Supremex Inc. (TSX: SXP), a Montréal-based manufacturer and marketer of a range of stock and custom envelopes and related products, has terminated discussions with its principal shareholder Clarke Inc. about a possible going private transaction. Under the terms of the previously announced proposal, Clarke would have acquired all additional company shares for a purchase price of C$1.20 per share, or around $19 million in total. The Halifax, Nova Scotia-based Clarke is an investor in private and public businesses.
2 min read · 15 August 2013
Seven Generations Energy Ltd., an oil & gas developer based in Calgary, announced that it has appointed Craig Glick to the company's board of directors. Glick is senior managing director of U.S. energy-focused private equity firm Natural Gas Partners, one of the company's founding shareholders. Seven Generations has been private equity-backed since 2008. Its other major investors include ARC Financial Corp., Canada Pension Plan Investment Board and KERN Partners.
2 min read · 15 August 2013
