Vancouver-based Prophecy Coal Corp. (TSX:PCY) recently extended its 2012 loan agreement with Waterton Global Value LP, which is managed by Canadian mining-focused private equity firm Waterton Global Resource Management. The company has agreed to a partial pay down of the principal loan amount from $10 million to $6.5 million and to extend the maturity date from July 16, 2013 to Oct. 31, 2013. Prophecy is engaged in developing energy projects in Mongolia.
7 min read · 02 August 2013
Genalta Power Inc., which converts waste energy into power applications, has closed a $30 million project finance facility, the first phase of a strategy targeted at raising $62 million in related funding. The financing was structured against a fully built and operational power project, with the balance of monies earmarked to build out an additional 27 MW of generation facilities. Genalta has been a portfolio company of Canadian specialty investment firm Crown Capital Partners since late 2012.
3 min read · 02 August 2013
Canada Pension Plan Investment Board (CPPIB) has agreed to acquire a 27.6 percent stake in Brazil's Aliansce Shopping Centers SA from Chicago's General Growth Properties Inc. for US$480 million, Reuters reports. The deal is expected to close later this year. Rio de Janeiro-based Aliansce is focused on owning, managing and developing shopping centers. CPPIB already owns a real estate portfolio in Brazil, which was valued at more than $900 million prior to this deal.
2 min read · 02 August 2013
San Francisco-based Taulia Inc., a cloud-based payment and discounting solutions provider, has entered into a strategic partnership with Canadian telecommunications company TELUS Corp. and its venture capital investment arm, TELUS Ventures. Through this partnership, the TELUS organization will implement Taulia internally, and invest in and resell its solutions in Canada. Taulia has been venture-backed since 2010. Its other investors include DAG Ventures, Matrix Partners and Trinity Ventures.
3 min read · 02 August 2013
Winnipeg, Manitoba-based IMRIS Inc. (NASDAQ: IMRS; TSX: IM), a provider of image-guided therapy solutions serving the neurosurgical, cardiovascular and cerebrovascular markets, has named Jay D. Miller as the company's CEO, replacing David Graves. Miller was previously president and COO of IMRIS. IMRIS is a portfolio company of Canadian private equity firm Whitecastle Investments. Carey Diamond, Whitecastle's president and CEO, is a member of the company's board of directors.
3 min read · 02 August 2013
Canadian merchant bank Difference Capital Financial (TSX VENTURE:DCF) announced the appointment of Tom Liston as managing partner. Liston previously worked at Yorkton Securities, as well as Versant Partners, which was acquired by Cantor Fitzgerald in 2012. At Difference Capital, Liston will assist in investment opportunities and provide advice to portfolio companies.
4 min read · 02 August 2013
Fulcrum Capital Partners has announced the promotions of Graham Flater to principal and Greg Collings and Lindsay Wilson to partner, peHUB Canada has learned. Before working at Fulcrum, Flater and Wilson both worked at HSBC Capital Canada, the corporate predecessor to Fulcrum, and previously at HSBC Bank Canada. Collings was formerly with audit, tax and advisory firm Collins Barrow. With offices in Vancouver and Toronto, Fulcrum provides private equity and mezzanine financing to mid-market businesses across Canada.
1 min read · 02 August 2013
Mississauga, Ontario-based Novadaq Technologies Inc., a developer of clinically-relevant imaging solutions, has acquired the surgical lymph node and tumor margin imaging system of Digirad Corp. The company will pay the U.S.-based Digirad up to $3 million for the assets, subject to the achievement of specific milestones, plus royalties. Novadaq went public in 2005, but continues to be backed by venture capital firms, including HIG BioVentures.
5 min read · 02 August 2013
Bellatrix Exploration Ltd. (TSX, NYSE MKT: BXE) has agreed to a joint venture deal under which it will sell a 50% working interest in producing assets in the Baptiste area of Alberta for $52.5 million to South Korea's Daewoo International Corp., a subsidiary of POSCO, and Devonian Natural Resources Private Equity Fund. The Calgary-based oil and gas company will utilize the proceeds to reduce debt and continue development of its Cardium and Mannville resource plays. The joint venture is expected to involve capital expenditures of around $200 million.
5 min read · 02 August 2013
Toronto-based OnX Enterprise Solutions Inc., a provider of enterprise data center solutions, has appointed Mike Cox as CEO. Cox was previously head of the company's U.S. operations, and before then held senior management positions at Logicalis and Hewlett-Packard, among other companies. OnX has been majority owned by U.S. private equity firm Marlin Equity Partners since 2011.
4 min read · 02 August 2013
