DND to start construction on new F-35 hangars despite review
'We'll be taking possession of those 16 F-35 fighter jets in the next several months, by the new year at the latest,' McGuinty told journalists on June 10.
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That, however, isn't true.
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The DND statement to the Ottawa Citizen noted that Canada would receive its first four jets in 2026, followed by four in 2027 and four in 2028. The first eight will go to Luke Air Force Base in the United States to enable the training of Canadian pilots, and the first aircraft will come to Canada in 2028, according to the statement.
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Auditor General Karen Hogan revealed June 10 that the cost of Canada's F-35 purchase had skyrocketed by nearly 50 per cent from $19 billion to $27.7 billion.
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Another $5.5 billion will be needed to achieve full operation capability for the planes, Hogan added.
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Part of the increase was because of U.S. concerns over the original design of hangars and other facilities for the stealth fighters to be built at Cold Lake and Bagotville. Those facilities had to be redesigned.
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Some retired military officers as well as defence analysts from DND-funded think tanks have argued that Canada should proceed with its entire F-35 purchase because it needs to remain a strong ally of the U.S.
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But retired Lt.-Gen. Yvan Blondin, the air force general who recommended Canada buy the F-35 fighter jet, now says the purchase should no longer go forward as planned because the U.S. has become so untrustworthy.
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Critics have pointed out that the U.S. also controls all aspects of software upgrades needed for the F-35 to continue flying. That, in turn, could pose a security risk because of the U.S. shift to a more hostile relationship with Canada.
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VANCOUVER, British Columbia, July 17, 2025 (GLOBE NEWSWIRE) -- 1911 Gold Corporation (' 1911 Gold ' or the ' Company ') (TSXV: AUMB; FRA: 2KY) is pleased to announce that it has completed its previously announced 'bought deal' LIFE offering (the ' Offering ') for gross proceeds of C$13,225,232.30, including the exercise in full of the Underwriters' Option (as defined in the press release dated June 24, 2025). 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The Company also owns the Apex project near Snow Lake, Manitoba and the Denton-Keefer project near Timmins, Ontario, and intends to focus on organic growth and accretive acquisition opportunities in North America. 1911 Gold's True North complex and exploration land package are located within the traditional territory of the Hollow Water First Nation, signatory to Treaty No. 5 (1875-76). 1911 Gold looks forward to maintaining open, co-operative and respectful communication with the Hollow Water First Nation, and all local stakeholders, in order to build mutually beneficial working relationships. ON BEHALF OF THE BOARD OF DIRECTORS Shaun Heinrichs President and CEO For further information, please contact: Shaun Heinrichs Chief Executive Officer (604) 674-1293 sheinrichs@ CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION This news release may contain forward-looking statements. 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Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements. Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. All statements that address expectations or projections about the future, including, but not limited to, statements with respect to the terms of the Offering, the use of proceeds of the Offering, the timing and ability of the Company to receive necessary regulatory approvals, the tax treatment of the securities issued under the Offering, the timing for the qualifying expenditures to be incurred and to be renounced in favour of the subscribers, and the plans, operations and prospects of the Company, are forward-looking statements. In making the forward-looking statements included in this news release, the Company have applied several material assumptions, including that the Company will use the net proceeds of the Offering as anticipated; that the Company will receive all necessary approvals in respect of the Offering; the Company´s financial condition and development plans do not change because of unforeseen events, and management's ability to execute its business strategy and no unexpected or adverse regulatory changes with respect to the Company mineral projects, and that the specific proposals to amend the Tax Act publicly announced on March 3, 2025 by the Minister of Energy and Natural Resources on behalf of the Minister of Finance proposing an amendment to extend the mineral exploration tax credit for investors in flow-through shares until March 31, 2027 will be enacted. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company's actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein. Although 1911 Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. All forward-looking statements contained in this news release are given as of the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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