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King Charles and Queen Camilla arrive to large crowds in Ottawa on first day of royal visit to Canada

King Charles and Queen Camilla arrive to large crowds in Ottawa on first day of royal visit to Canada

Toronto Star26-05-2025
King Charles III and Queen Camilla have arrived in Ottawa Monday afternoon, a day before his majesty delivers the Speech from the Throne to open the 45th Parliament of Canada.
Follow along here for live coverage of the 2025 royal visit.
King Charles III has arrived in Canada's capital on Monday on his first visit to the country since becoming the British monarch. Joined by Queen Camilla, the royals will be greeted with a ceremonial welcome.
What to know:
King Charles and Queen Camilla have landed in Ottawa, starting their whirlwind royal visit to Canada
Their majesties were welcomed by Prime Minister Carney, the Governor General, Indigenous leaders and other officials
Queen Camilla will be sworn-in as a member of the Privy Council for Canada today
King Charles will deliver the Throne Speech Tuesday morning
Updated 9 mins ago
Mark Carney and King Charles are well acquainted to each other
By Mark Colley Staff Reporter
King Charles III met with Prime Minister Mark Carney at Buckingham Palace in London on March 17, 2025.
Aaron Chown/This is, of course, not Mark Carney's first time having an audience with King Charles.
Carney had a private audience with the King at Buckingham Palace in March, part of a whistle-stop tour across Paris, London and Iqaluit shortly after he became prime minister.
And in December 2016, then-Bank of England governor Carney gave Charles a tour of the central bank, including its gold vaults containing around 400,000 gold bars worth more than 100 billion British pounds.
Updated 6 mins ago
King's private meeting with PM and Gov. Gen,. Queen Camilla's swearing in ceremony up next
By Mark Colley Staff Reporter
The main door to the Office of the Prime Minister and Privy Council office is seen in Ottawa on February 18, 2019.
Adrian Wyld/ The Canadian Press
Now inside Rideau Hall, the King will meet with Governor General Mary Simon and Prime Minister Mark Carney. The content of these conversations will remain private.
Queen Camilla will then be sworn into the Privy Council for Canada, a ceremonial advisory group to King Charles that includes former prime ministers, governors general, chief justices, cabinet members and distinguished Canadians.
Once appointed, Camilla will be a member for life.
In total, there are nearly 400 active members of the privy council, including the King.
The group is meant to advise the King on Canadian issues, but its role is almost entirely ceremonial. The Privy Council hasn't formally met since 1981, when it was asked to give formal consent to the marriage of Charles and Diana Spencer.
Updated 30 mins ago
Heavy security presence on the royal visit
By Raisa Patel Ottawa Bureau
As the crowd breaks out into impromptu singing of O Canada and God Save the King, It's worth noting the heavy security presence here.
Media were told both RCMP and Ottawa Police were involved in this visit, plus personal security for the Royals.
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Updated 38 mins ago
A turkey also attended the ceremony
By Mark Colley Staff Reporter
A turkey decided to attend the royal tree planting on the grounds of Rideau Hall.
CBC
We've got an unexpected visitor: A turkey has just wandered past the crowd surrounding King Charles and Queen Camilla at Rideau Hall. The birds here have a tendency for big appearances — a turkey did the same during the cabinet unveiling two weeks ago.
Updated 4 mins ago
The tree has been 'planted'
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By Raisa Patel Ottawa Bureau, and Mark Colley Staff Reporter
King Charles III raises a shovel after a ceremonial tree planting at Rideau Hall, in Ottawa, on May 26, 2025.
Ben Stansall/AFP via Getty Images
Of course, it was already in the ground — the King simply dropped a few shovels of dirt on it.
He also shook a branch, one of his traditions.
Raisa Patel/ Toronto Star
The king is now meeting some of those assembled as rain drops begin to fall.
Updated 24 mins ago
Tree planting by the royals is a longstanding tradition
By Mark Colley Staff Reporter
Queen Elizabeth strolls in the gardens at Rideau Hall in Ottawa on Oct. 15, 1957, accompanied by His Excellency the Governor General Vincent Massey and H.R.H. Prince Philip. A golden retriever named 'Duff' is carrying her handbag.
National Archives of Canada-Peel via The Canadian Press
Members of the royal family have planted 17 commemorative trees at Rideau Hall since 1939.
The tradition, not exclusive to the royal family but also including heads of state and other dignitaries that visit Rideau Hall, began in 1906. It symbolizes 'friendship and cooperation between nations,' the Governor General website says.
The tree being planted, a blue beech, was chosen as a symbol of resilience, adaptability and heritage. Charles' tree will be the 155th commemorative tree planted at Rideau Hall, and his fourth — he also planted trees in 1971, 1983, 2009 and 2017.
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Updated 31 mins ago
Tree planting ceremony is up next
By Raisa Patel Ottawa Bureau
The Blue-Beech tree King Charles will 'plant' during the ceremonial event at Rideau Hall.
Raisa Patel/ Toronto Star
Enjoy a sneak peak of the Blue-Beech tree King Charles will 'plant' within the hour on the grounds of Rideau Hall.
It's a small, deciduous tree from eastern North America.
Updated 59 mins ago
The King and Queen wrap up their engagements at Lansdowne Park
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By Mark Colley Staff Reporter, and Mark Ramzy Ottawa Bureau
King Charles III and Queen Camilla landed in Ottawa Monday for a historic royal visit. Tuesday, his majesty will deliver the Speech from the Throne to open the 45th Parliament of Canada.
The maple syrup and ball hockey are in the rearview mirror.
King Charles and Queen Camilla are back in the motorcade, now on their way to Rideau Hall. Once there, they'll participate in a tree-planting ceremony, have an audience with Governor General Mary Simon and Prime Minister Mark Carney, and Camilla will be sworn into the Privy Council for Canada.
How many security vehicles does a motorcade carrying both the King of England and the Prime Minister of Canada have? We counted at least 24 stationed at Lansdowne.
As the King and Queen got into their car, chants of 'Long live the King,' mixed with 'Free Palestine,' and something about foreign interference.
The 'Long live the King' chants were loudest
Updated 1 hr ago
McNally sisters thrilled after meeting King Charles
By Mark Ramzy Ottawa Bureau
Royalty fans Judy and Patty McNally shook hands with King Charles and Queen Camilla.
Mark Ramzy/ Toronto Star
Here is Judy and Patty McNally, who got to shake hands with King Charles, Queen Camilla, Prime Minister Mark Carney and his wife Diana Fox Carney.
Judy, who met Princess Catherine in 2011, said the King noticed her poster and said 'Wow.'
Her sister Patty, on the other hand, said it was her first time meeting a Royal.
'It's exciting,' she said. 'He's got big hands!'
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Updated 1 hr ago
King Charles checking out some maple syrup
By Mark Ramzy Ottawa Bureau
King Charles checks out some maple syrup after arriving at Lansdowne Park in Ottawa on May 26, 2025.
Mark Ramzy/ Toronto Star
Here's the King looking at some Maple Syrup.
Prime Minister Mark Carney appeared to fancifully wave around a jar of maple syrup, to huge applause from the crowd.
Updated 56 mins ago
King Charles drops the puck in a game of street hockey
By Mark Colley Staff Reporter
King Charles participates in a ceremonial puck drop with street hockey captains Chris Phillips, left and Desiree Scott as Prime Minister Mark Carney and wife Diana Fox Carney look on during a visit to Lansdowne Park in Ottawa on Monday.
Christinne Muschi/ The Canadian Press
And now, the most Canadian moment of them all: a ceremonial puck drop for a game of street hockey alongside former Ottawa Senators defenceman Chris Phillips.
Prime Minister Mark Carney, following closely behind, seems to be especially enjoying this moment — no wonder, given his experience playing hockey for Harvard and Oxford.
Updated 1 hr ago
Chiefs tell King Charles to remember his treaty obligations as he visits Ottawa
By Alessia Passafiume The Canadian Press
David Pratt delivers remarks after conceding to National Chief of the Assembly of First Nations-elect Cindy Woodhouse during the third day of the special chiefs assembly in Ottawa on Thursday, Dec. 7, 2023. THE CANADIAN PRESS/Spencer Colby
SC
Earlier today, dozens of First Nations leaders from across the country gathered in front of Parliament Hill with a message for the King as he arrives in the city — respect your treaty partners.
The leaders say they also want the federal Liberals to take action on reforming the child welfare system, protecting traditional lands and building infrastructure desperately needed in Indigenous communities.
Read the full report from The Canadian Press
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Updated 57 mins ago
Royals greet and shake hands with crowds gathered at Lansdowne Park
By Mark Ramzy Ottawa Bureau
King Charles III and Queen Camilla greet well-wishers as they arrive to visit to Lansdowne Park in Ottawa, Canada, on May 26, 2025.
Hannah McKay/Pool/AFP via Getty
As they make their way, they're accompanied by a group of journalists and photographers hoping to get a close shot and more than a dozen security officials squabbling with the media to try to make room for the King and Queen.
Updated 1 hr ago
The King's motorcade has arrived at Lansdowne Park
By Mark Ramzy Ottawa Bureau
The King and Queen are making their way through the crowd shaking hands.
Updated 14 mins ago
Camilla's maple leaf brooch
By Sarah Laing Special to the Star
Queen Camilla, wearing a maple leaf brooch, reacts as she and King Charles III are greeted after arriving at Macdonald-Cartier International Airport in Ottawa, Canada, May 26, 2025.
Victoria Jones/Pool/AFP via Getty Images
In news that will shock no devotee of royal jewellery, Queen Camilla is wearing the famous Asprey diamond maple leaf brooch.
Gifted by King George VI to his wife Elizabeth ahead of their 1939 Canadian tour, it's been a favourite of royal women doing Canada-related things since then. It was a go-to for the late Queen - she last publicly wore it in 2021, while meeting members of a Canadian regiment at Windsor Castle - and Kate Middleton borrowed it for both her 2011 and 2016 royal visits to Canada. Queen Camilla, for her part, wore this brooch on her own first official royal trip to Canada back in 2009.
The purported value of this iconic bit of royal sparkle, by the way? Somewhere around $185,000.
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Updated 1 hr ago
Queen Camilla disembarks in pink
By Sarah Laing Special to the Star
King Charles and Queen Camilla arrive at the Ottawa International Airport in Ottawa for a royal visit on Monday.
Sean Kilpatrick/ The Canadian Press
A slight surprise for anyone betting the Queen would disembark in red or white: She's in pink! (Which is red and white swirled together so…)
Queen Camilla looks to be re-wearing her Anna Valentine coat dress, a firm favourite she's donned for occasions like Royal Ascot and which she debuted at Prince Harry and Meghan's wedding in 2018 (Read into that what you will.)
A sweet sartorial detail: The King looks to be matching his tie and pocket square to his wife's pink dress.
Updated 1 hr ago
Students greet the King and Queen
By Raisa Patel Ottawa Bureau
Students greet the King and Queen.
Raisa Patel/ Toronto Star
There are students from several local schools greeting the King and Queen.
Charles asks them if he's disrupting their end of year exams, asking whether they play any sports, and complimenting students holding DSLR cameras.
Updated 2 hrs ago
King Charles and Queen Camilla headed to Lansdowne Park
By Mark Colley Staff Reporter
Well wishers look on before the arrival of King Charles III and Queen Camilla at a Lansdowne Park community event in Ottawa on May 26, 2025.
Dave Chan/AFP via Getty Images
The King, in his blue BMW, and his motorcade is now headed to Lansdowne Park, a mixed-use space next to the Rideau Canal with green space, a hockey arena, retail space and movie theatre.
Charles will mingle with a number of groups there, including Ottawa's African Hockey Association, the music program OrKidstra, and Mādahòkì Farm, a program designed to educate people on Indigenous culture.
And in true Canadian fashion, the King will drop the puck for a game of street hockey.
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Updated 2 hrs ago
King Charles III begins his first tour as King of Canada
By Mark Colley Staff Reporter
As the King shakes plenty of hands at the airport, it marks the beginning of a whirlwind visit — one that will, in total, unfold over less than 24 hours.
Here's a look at what he'll do while he's here:
Updated 1 hr ago
The royals are welcomed with an Indigenous drum performance
By Raisa Patel Ottawa Bureau
The Eagle Island drummers from Kitigan Zibi are kicking off the proceedings, as Assembly of First Nations National Chief Cindy Woodhouse Nepinak watches.
The Royals, joined by the prime minister and Governor General, are treated to a performance from the Eagle Island drummers.
Updated 2 hrs ago
This may be extra special for Diana Fox Carney, who was born in the U.K.
By Mark Colley Staff Reporter
For Diana Fox Carney, the British-born wife of Prime Minister Mark Carney, this moment may hold some extra significance.
She grew up in England and attended the University of Oxford, where she met Carney while playing hockey. The couple lived in London while Carney was governor of the Bank of England.
Read more in Mark Colley full report
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Updated 11 mins ago
King and Queen being greeted by the welcome party
By Raisa Patel Ottawa Bureau
King Charles III and Queen Camilla arrive at Ottawa Airport during an official visit to Canada on May 26, 2025 in Ottawa, Canada.
Victoria Jones/Pool/Getty Images
King Charles and Queen Camilla have disembarked their aircraft and are now greeting Canadian officials and dignitaries, Raisa Patel reports. Follow live coverage: https://www.thestar.com/politics/federal/king-charles-live-may26/article_7b95e063-8148-4748-ad8d-88525305a4e7.html
King Charles and Queen Camilla have disembarked their aircraft and are now greeting Canadian officials and dignitaries.
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A post shared by Mark Carney (@markjcarney)
Prime Minister Mark Carney posted about their arrival on Instagram shortly after.
'Your historic visit is a reminder of the bond between Canada and the Crown — one forged over generations, shaped by shared histories, and grounded in common values.'
Updated 2 hrs ago
The tarmac is ready for the King's arrival
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By Raisa Patel Ottawa Bureau, and Mark Colley Staff Reporter
The tarmac is ready for the King's arrival.
Raisa Patel
The Royal Canadian Dragoons, a senior regiment of the Canadian Army, are now stationed outside the plane, awaiting the King's exit.
Updated 2 hrs ago
And we have a plane!
By Raisa Patel Ottawa Bureau
Government of Canada's plane carrying King Charles and Queen Camilla landed at the Ottawa airport Monday afternoon.
Raisa Patel Toronto Star
king Charles and Queen Camilla have just landed at Macdonald-Cartier International airport.
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Updated 2 hrs ago
Thousands tracking the King's plane on FlightrRadar24
By Mark Colley Staff Reporter
ROYAL-VISIT Screengrab of the FlightRadar24's map, tracking the Airbus CC-830 carrying King Chjarles and Queen Camilla Uploaded by: Michael, Akrit
FlightRadar24
Over 13,000 people are tracking the Airbus CC-330 carrying King Charles and Queen Camilla, which is about to land in Ottawa. It's currently the most-tracked flight in the world on FlightRadar24.
Updated 2 hrs ago
Rehearsing their greeting to the royals
By Mark Ramzy Ottawa Bureau
Minister of Canadian Culture and Identity Steven Guilbeault and Ottawa Mayor Mark Sutcliffe and here now at Lansdowne, where they are expected to greet the King and Queen in just under an hour.
They appear to be practicing their steps ahead of the Royals' arrival.
Updated 2 hrs ago
PM Carney, other dignitaries have arrived
By Raisa Patel Ottawa Bureau
Prime Minister Mark Carney is officially on site, while Governor General Mary Simon and her husband, Whit Fraser, pulled up shortly after.
All three are part of the greeting ceremony, which should be underway within a half hour.
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Updated 2 hrs ago
Some tree planting trivia, as we wait for the King and Queen
By Sarah Laing Special to the Star
Queen Elizabeth II waves towards well wishers as she and Governor General Adrienne Clarkson (right) arrive for a tree planting ceremony at Rideau Hall in Ottawa Monday, Oct. 14, 2002.
TOM HANSON CP
Their Majesties will kick off this visit with a ceremonial tree planting at Rideau Hall.
Royals have a thing for tree planting: The late Queen Elizabeth II planted her first, a yew tree, when she was just 11 to mark her father's coronation. (It's reportedly still thriving 88 years later.)
An advocate of the environment long before it was cool, King Charles has kept up this family tree-dition. In 2025 alone, he's planted multiple saplings, including an October Glory maple in the grounds of Buckingham Palace to commemorate the Queen's Canopy tree planting initiative, an oak while in Italy, and a Swedish oak in Windsor gifted to him by that country's king and queen.
Fun fact: According to his country home Clarence House's official Instagram, when the king plants a tree, 'he often gives a branch a friendly shake to wish it well.'
Updated 2 hrs ago
Quebec MP Francis Scarpaleggia elected as speaker of the House of Commons
By Kyle Duggan - The Canadian Press
Francis Scarpaleggia speaks during the election process for Speaker in the House of Commons in Ottawa on May 26, 2025.
Adrian Wyld The Canadian Press
Quebec Liberal MP Francis Scarpaleggia was elected Speaker of the House of Commons on Monday — after an unusually dramatic race that saw the only Conservative contenders drop out of the running at the last minute.
Conservative MPs Chris d'Entremont and John Nater both put their names forward but withdrew on the House floor before the election began Monday morning.
The Liberals currently have 169 seats in the minority Parliament, leaving them three seats shy of the 172 required for a majority.
Read the full story from The Canadian Press
Updated 1 hr ago
The Diana of it all
By Sarah Laing Special to the Star
Princess Diana, Prince William and Prince Harry on the Maid of the Mist in 1991.
Barry Gray/The Hamilton Spectator
Although she's been dead nearly thirty years — and Charles and Camilla just celebrated their 20th wedding anniversary — Princess Diana remains an omnipresent character in this royal story.
See: The social media crusaders proclaiming 'Camilla will never be my queen' on almost any post about Queen Camilla, including those announcing this visit.
Princess Diana in Canada in 1983.
Boris Spremo photo
It's no different when it comes to the royals and Canada: The late Princess of Wales not only visited several times, including a 1983 trip and a 1991 visit that saw her taking William and Harry to Niagara Falls. (It also happened to be one of the last tours Charles and Diana did before their 1992 separation. In hindsight, their multiple solo engagements seem quite significant.)
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Updated 2 hrs ago
Scenes from Macdonald-Cartier International airport
By Raisa Patel Ottawa Bureau
Practising musicians, at the Ottawa airport, where King Charles, Queen Camilla, and a bevy of British officials and media are expected to arrive on Monday, May 26.
Raisa Patel, Toronto Star
The scene is still quiet, except for practising musicians, at the Ottawa airport, where King Charles, Queen Camilla, and a bevy of British officials and media are expected to arrive in about an hour. Pictured is the tarmac where the King will disembark from an RCAF Airbus CC-330 Husky, and a 'sweep' dog, Jasper, who checks over the media's equipment.
From Ottawa airport, where King Charles, Queen Camilla, and a bevy of British officials and media are expected to arrive ahead of the Throne Speech Tuesday.
In a hangar behind me, groups of local schoolchildren, Canadian Armed Forces members, and dignitaries are preparing for the arrival ceremony.
Updated 3 hrs ago
Growing crowds and the odd protestor at Ottawa's Lansdowne Park
By Mark Ramzy Ottawa Bureau
Crowd gathers at Ottawa's Lansdowne Park in anticipation of the arrival of King Charles and Queen Camilla.
Mark Ramzy, Toronto Star
The crowd is getting bigger at Lansdowne Park, with mostly supporters and other curious folks gathering to await the Royal Family.
Big Leung, who was visiting from Australia to see her sister, told the Star she was urged by her friends back home to make time during her trip to see the Royals and take photos of them.
'I have a heavy responsibility,' she joked.
Others, like Annie Coulter, said she wanted to take up on the once in a lifetime opportunity to see King Charles, noting the Monarch's health issues.
She said amid turmoil in the world, including U.S President Donald Trump's threats towards Canada, she sees the Royals as a 'calming influence.'
'His mother, the queen, was the same way,' Coulter told the Star. 'Whenever they spoke, or whenever they were somewhere, you always knew that you were in good hands.'
Still, there's the odd protestor. One person in the crowd is holding a double sided sign.
One side reads: 'Charles is not my King. And neither is Mark Carney.'
The other: 'Jesus King of Kings.'
Updated 2 hrs ago
First visit by a monarch in 15 years
By Mark Colley Staff Reporter
Front page of the Toronto Star on the day Queen Elizabeth II visited Toronto, during the last visit by a Canadian monarch.
Toronto Star archives
When King Charles' plane sets down at the Ottawa airport early this afternoon, it will mark the first visit by the monarch in 15 years.
Queen Elizabeth II last visited Canada from June 29 to July 6, 2010. Like Charles will this afternoon, Elizabeth participated in a ceremonial tree planting at Rideau Hall.
Unlike Charles, though, she also visited Halifax, Winnipeg and the Toronto area.
Elizabeth attended the Queen's Plate race at Woodbine Racetrack and toured Research in Motion in Waterloo, the makers of the BlackBerry.
In the 15 years since, there have been seven official royal tours — including four by Charles and Camilla, most recently in May 2022, when they were still the Prince of Wales and the Duchess of Cornwall.
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Updated 3 hrs ago
Sizeable crowd awaits King's arrival
By Mark Ramzy Ottawa Bureau
Lansdowne Park in Ottawa ahead of the King's visit.
Mark Ramzy
Here's the view from Lansdowne Park in Ottawa, where the King is expected to make his first public appearance on his itinerary in about two hours.
Already a sizeable crowd here waiting for the Royals.
Lansdowne Park in Ottawa.
Mark Ramzy/ Toronto Star
Updated 3 hrs ago
Prime Minister Mark Carney welcomes King Charles III and Queen Camilla
By Mark Colley Staff Reporter
In a statement released earlier today, Prime Minister Mark Carney said the royal visit will be a 'reminder of the bond between Canada and the Crown — one forged over generations, shaped by shared histories, and grounded in common values.'
Today, we are honoured to welcome Their Majesties King Charles III and Queen Camilla to Canada.
This #RoyalVisit is a reminder of the bond between Canada and the Crown, one forged over generations. https://t.co/FG9sFXka5p
Photo: Millie Pilkington pic.twitter.com/h9ewmX5Q2z
— Prime Minister of Canada (@CanadianPM) May 26, 2025
Carney said King Charles' speech from the throne Tuesday will match the 'weight of our times.'
'It speaks to our enduring tradition and friendship, to the vitality of our constitutional monarchy and our distinct identity, and to the historic ties that crises only fortify,' Carney said.
After all, that's the subtext of this entire visit: U.S. President Donald Trump's repeated threats to Canadian sovereignty. Some royal watchers expect Trump to weigh in on the trip, although so far today, the president has been busy posting about his escalating fight with Harvard.
Updated 4 hrs ago
Australia visit
By Sarah Laing Special to the Star
The Sydney Opera House sails show photos of Britain's King Charles soon after his arrival in Sydney, Australia, Friday, Oct. 18, 2024.
Mark Baker AP file photo
The king's visit to Canada is certainly democratically significant - but it's got a very different political charge to his trip Down Under last fall.
Australian politician, Senator Lidia Thorpe heckles King Charles III during the ceremonial welcome and Parliamentary reception at the Australian Parliament House on October 21, 2024, in Canberra, Australia.
Victoria Jones - Pool/Getty Images
Two hot button issues for Aussies were front and centre on his first royal overseas tour as king: Indigenous sovereignty - an Indigenous senator shouted 'this is not your country' to him in parliament, while protesters tried to present him with a 'notice of complicity in Aboriginal Genocide' at several events and the country's growing republican sentiment, which saw several state premiers decline to attend a welcome reception for the King of Australia
Still, after 30 engagements in 4 days, Australia's PM dubbed it 'historic,' adding 'their majesties met a range of extraordinary Australians who demonstrated the best of our great country.'
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Updated 4 hrs ago
The Prince Harry of it all
By Sarah Laing Special to the Star
Could we see Prince Harry make a surprise appearance in Ottawa? It's highly unlikely, but that hasn't stopped speculation we might see estranged father and son reunite under a maple leaf flag this week.
In the pro column: Harry's new home in California is a mere 4,600 kilometres away, meaning Ottawa's a much more geographically convenient staging point for a quick family reunion than usual.
There's also the fact that Harry has just extended a very public olive branch, telling the BBC earlier this month: 'I would love reconciliation with my family. There's no point in continuing to fight anymore. Life is precious. I don't know how much longer my father has.'
And, Canada is literally common ground for these two men: Prince Harry held his Invictus Games in British Columbia earlier this year, and has spoken about how this country felt like a safe harbour when he and his wife Meghan left the U.K. in 2020. They've also visited the country together: Back in 1998, the then-prince took his two sons skiing at Whistler while on a working holiday.
Prince Charles waves to the media and onlookers during a skiing vacation in Whistler, B.C. in March 1998 with his sons Prince Harry, left, and Prince William.
Nick Didlick/Vancouver Sun
In the negative column: In that same BBC interview, Prince Harry claimed that his father 'won't speak' to him. At issue? The younger royal's fight (now defeated) to get back the level of security protection in the U.K. that he lost when he quit being a working royal.
Not promising — especially when the King's packed schedule on this whirlwind visit, with no obvious gaps to squeeze in an emotional reconciliation, is factored in.
Updated 4 hrs ago
King Charles' health
By Sarah Laing Special to the Star
In this photo illustration, a selection of front pages covering the news of King Charles being diagnosed with an unspecified form of cancer which was discovered as doctors treated the monarch for an enlarged prostate in 2024.Jet lag, a jam-packed schedule, and a high-stakes speech — it's a lot for anyone to handle, let alone a 76-year-old. And King Charles is doing it all while undergoing cancer treatment.
Diagnosed with an unspecified form of cancer that his doctors found when he went in for surgery to treat a benign prostate enlargement last year, the king has been in treatment since then. Unknown side effects of this treatment landed the monarch in the hospital for a 'short period of observation' in March.
Britain's King Charles III and Britain's Queen Camilla greet people outside the Colosseum in Rome, in April. The four-day state visit to Italy came 10 days after Charles, 76, was briefly admitted to hospital after experiencing side effects from his cancer treatment.
ALBERTO PIZZOLI/AFP via Getty Images
A testament to his reputation as a workaholic, he's kept at the job throughout: He's been on multiple overseas visits — including one to Australia last fall, and even when his doctors kept him from public-facing duties early on his illness, he kept up state business and paperwork as usual.
Updated 5 hrs ago
The social media king
By Sarah Laing Special to the Star
Don't be surprised if you see the king stopping to take a selfie or three on this tour — it's the new royal normal in our social media age
Once upon a time, people waiting at the barricades would be lucky if they got a quick handshake and a 'Have you come far?' In the era of Instagram and TikTok, however, the royals — including later adopter Charles, who seems to have loosened up his personal protocol around his Australia tour last year — will occasionally submit themselves to a selfie, and seem comfortable with having interactions filmed when they're chatting at walkabouts.
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Updated 5 hrs ago
Charles and Camilla in Canada
By Sarah Laing Special to the Star
Charles and Camilla, then the Prince of Wales and the Duchess of Cornwall, in St. John's in Newfoundland and Labrador on May 17, 2022.
Jacob King/Pool Getty Images
This is King Charles 20th trip to Canada. His 19th trip was in May 2022, four months before his mother died, so this also means it's his first trip as monarch. His first trip to Canada was in 1970, where he landed in Ottawa before joining his parents and sister Anne in Manitoba.
Queen Elizabeth II, Prince Phillip and their children, Prince Charles and Princess Anne during the Royal tour of Canada in Yellowknife, N.W.T., in July 1970.
Daily Mirror
Queen Camilla has made six official visits to Canada, starting in 2009 when she and King Charles landed in Newfoundland. She's never come on her own, but on her trips with her husband she's seen a breadth of the country most Canadians would envy: Newfoundland and Labrador, Quebec, Ontario, British Columba, New Brunswick, Saskatchewan, Nova Scotia, PEI, Manitoba, Nunavut, Northwest Territories.
Which yes, means King Charles has visited every Canadian province and territory. Queen Camilla just has Alberta and Yukon left on her bingo card.
Updated 7 hrs ago
A whirlwind trip
By Sarah Laing Special to the Star
King Charles and Queen Camilla are set to spend less than 24 hours in Canada.
And while this trip is particularly brief, it continues a trend of shorter and shorter royal tours. Charles and Camilla's last visit to Canada in 2022, for example, lasted just two days. By contrast, when King George VI and his wife Queen Elizabeth visited in 1939 they stayed nearly a whole month and visited every province.
King George VI and Queen Elizabeth in Ottawa, 1939.
International News Photo
There are probably a few reasons for these abbreviated programs: Travel is obviously quicker, but our attention spans are also shorter, and social media means you can reach more local crowds with fewer walkabouts. At the same time, the royals appear increasingly conscious of not seeming overly burdensome of their host countries — or the taxpayers who fund these visits via the governments who invite them.
Updated 8 hrs ago
King Charles, Queen Camilla arriving today
By The Canadian Press
OTTAWA—King Charles and Queen Camilla will touch down in Ottawa today to kick off an historic royal tour.
The trip marks the royals' first visit to Canada since the King's coronation two years ago.
When they land this afternoon, the royals will travel to Lansdowne Park, a large events venue in the heart of the nation's capital, to meet with community members.
The King and Queen will then head to Rideau Hall to meet with Prime Minister Mark Carney and Governor General Mary Simon, who acts as the representative of the Crown in Canada.
Carney has asked the King to read the speech from the throne on Tuesday, which sets out the government's priorities for the legislative session.
Prime Minister Pierre Trudeau looks on as Queen Elizabeth II reads the speech from the throne in the Senate chamber, officially opening the session of Parliament in Ottawa on Oct. 18, 1977.
The Canadian Press file photo
The event will mark the first time Canada's head of state has opened Parliament since Queen Elizabeth II did so in 1977.
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Updated 8 hrs ago
Here's what is on King Charles's itinerary
By Mark Ramzy Ottawa Bureau
King Charles will drop a hockey puck, plant a tree and be escorted by 28 Mounties during his two-day trip to Ottawa — the first to Canada in his reign as monarch — where he is scheduled to open the 45th Parliament.
All eyes will be on the King and his wife, Queen Camilla, who will arrive Monday at the invitation of Prime Minister Mark Carney, and against the backdrop of economic tensions between Canada and U.S. President Donald Trump.
Here is what's planned for their visit on May 26 and 27
Updated 59 mins ago
King Charles is coming to Canada. Does anyone care?
By Sarah Laing Special to the Star
King Charles and Queen Camilla wave to the crowds from the balcony of Buckingham Palace after their Coronation on May 06, 2023, in London./BESTPIX
King Charles arrives in Ottawa on Monday for a whirlwind visit to the largest of his 15 realms. It's a strained time for the monarchy, riven with both cancer and controversy. Last year, the King and the Princess of Wales were both diagnosed with cancer, and the ongoing estrangement between Charles and his son Prince Harry shows no signs of a thaw. While the King may now cut a sympathetic figure, he's never been beloved like his mother, Queen Elizabeth, who drew throngs by the thousands for decades.
Beyond the crowd that might gather at a barricade for the chance to shake a royal hand while they're on a walkabout, does anybody really care that King Charles is in town?
Stacy Lee Kong, a Toronto pop culture writer, says she definitely does not. While Kong has previously written critically about the Royal Family, she said there's nothing about Charles right now that moves her to even engage. That's partly because what she calls 'the promise of modernism' sparked by Meghan Markle, a biracial woman, joining the royal ranks, hasn't been fulfilled.
'He's out of touch,' said Lee Kong, pointing to the 2023 coronation. 'He's dripping in gold and jewels, and it's like, 'Sir, now? At this moment?' … The same people who have always benefited — not just benefited but actively reshaped the world to benefit themselves — are still in power.'
This indifference, she added, isn't inconsequential. 'If you're an institution that has transitioned from actual political power to soft cultural power, it must be very scary to realize that your relevance is actually diminishing — and there's not really a path forward because your brand-marketing succession plan is not really panning out,' she said. 'For me, and maybe for a lot of people, there's no part of this that is activating any kind of passionate response.'
Alyssa Ashton, a creative director and long-time Royal Family fan, feels differently.
'(King Charles) was in hospital not too long ago, and he's maybe not feeling great, but he's making this trek across the world to show how important Canada is as part of the Commonwealth,' said Ashton. 'It's made me go, 'Oh Charles! What a sweetie you are.''
The King's cancer diagnosis was announced in February 2024.
Ming Yeung / Getty Images
Still, said Ashton, 'Truthfully, I would have preferred Will and Kate — for most of us that would have been more interesting. But I think that this is what the royals do best, this soft diplomacy. I would even say that this (visit) feels like more bold diplomacy.'
Ashton said that Charles's visit — particularly his delivery of the throne speech in Parliament on Tuesday, the first by a monarch since 1977 — will be particularly significant during this time of heightened Canadian patriotism ignited by U.S. President Donald Trump's constant tariff threats and taunts of making Canada the 51st state.
'I'm sure (Charles) will still get negativity, but because the throne speech will likely have some words about how Canada is a sovereign nation, I think it might create some rah-rah.'
A new poll suggests that support for the monarchy is on the rise, with 48 per cent of Canadians saying it's good for Canada's sovereignty for King Charles to deliver the throne speech and only 22 per cent opposed.
Nathan Tidridge, a GTA high school civics teacher, who is also the vice-president of the Institute of the Study of the Crown, said that he believes this is the most important royal visit since 1939.
'We're in this period of existential crisis, where Canadians are being asked to define their democracy and their sovereignty and the vehicle for that is we're going to have the King read the speech from the throne,' said Tidrige. 'I think a lot of Canadians will say, 'Oh it's symbolic,' but it's very important because it's what our democracy is founded on, and it marks us as different from the United States.'
King Charles, seen here at the RHS Chelsea Flower show, in London on May 19, has long championed for protection of the environment.
TOBY MELVILLE POOL/AFP via Getty Images
Tidridge met the King when he was part of a delegation of the Mississaugas of the Credit that travelled to Scotland to meet the monarch in 2023. The prevailing impression he had, Tidridge said, is that of a man on a mission. He characterizes the King as more forward-thinking than younger generations might assume.
'He's hit the ground running. His whole life, he was cutting edge for the environment. He's the King that we need for these times — if we let him do it.'
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Updated 59 mins ago
King Charles sees rising support in Canada, poll suggests
By Robert Benzie Queen's Park Bureau Chief
King Charles III, left, holds an audience with Prime Minister Mark Carney at Buckingham Palace, in central London, on March 17, 2025.
AARON CHOWN POOL/AFP via Getty I
A Trump bump has turned the Crown frowns upside down.
As King Charles III gets set to deliver the Speech from the Throne Tuesday in Ottawa against the backdrop of U.S. President Donald Trump's bellicosity toward Canada, a new poll suggests support for the monarchy is on the rise here.
The Pollara Strategic Insights survey found Charles' popularity has jumped since he ascended the throne in 2022 upon the death of his mother, Queen Elizabeth II, who reigned for 70 years.
More Canadians now support the country remaining a constitutional monarchy than becoming a republic with 45 per cent backing the status quo and 39 per cent wanting to abandon the Crown while 16 per cent were unsure.
That compares to a September 2022 Pollara survey that found 35 per cent wanted Canada to remain a constitutional monarchy with the King as its head of state while 44 per cent opposed that and 21 per cent of respondents weren't sure.
'At a time when we're looking for stability, there's something stable that the institution offers and that's the biggest reason we see that growth in support,' Dan Arnold, Pollara's chief strategy officer, said Friday.
'In the face of Trump and chaos and everything else, there's a certain degree of stability that the institution and the King himself offer,' said Arnold.
Indeed, that's a major reason why Prime Minister Mark Carney invited Charles to deliver the throne speech that will outline the new Liberal government's legislative agenda.
Such speeches are normally delivered by the governor general — the last time a reigning monarch did so in Canada was in 1977 with Queen Elizabeth.
Pollara found the new prime minister's move has been well-received with 48 per cent of respondents saying the King reading the speech is 'good for Canadian sovereignty' while only 22 per cent felt it was bad and 30 per cent didn't know.
'Certainly Carney is trying to position this as a counter to Trump annexation talk,' said Arnold, referring to the president's comments that Canada should become the '51st state.'
'This (the monarchy) is obviously one of the connections Canada has in the world outside the U.S.,' the pollster said.
Using online panels, Pollara surveyed 3,400 people across the country from last Friday until Tuesday. While opt-in polls cannot be assigned a margin of error, for comparison purposes, a random sample of this size would have one of plus or minus 1.7 percentage points, 19 times out of 20.
The King's personal popularity is also on the upswing since the earlier poll — 45 per cent have a positive view toward him compared to 23 per cent with a negative view and 32 per cent unsure.
In 2022, 37 per cent had a favourable view with 33 per cent viewing him unfavourably and 26 per cent having no opinion.
Overall, his rating has climbed to plus 22 per cent from plus four per cent.
'That probably speaks to him putting some of the doubts to rest,' said Arnold.
'He certainly took over the role of monarch at a time when people were very down on him, given everything that happened with (his late ex-wife Princess) Diana and other controversies,' he said.
Arnold said the King's very public fight with cancer, which has increased awareness of the need for people to get screened for the disease, has also left an impression on Canadians.
'He's managed to put some of the questions around him to rest for the people who were negative towards him.'
But not all Canadians want the country to remain a constitutional monarchy with a sovereign who lives in the United Kingdom.
Only 25 per cent of Quebecers support the Crown while 58 per cent want to end the monarchy.
'That's the only area where this is potentially dicey for Carney. Other than Quebec, there's not really any demographic or part of the country where there's opposition to this,' said Arnold.
In Ontario, 54 per cent back the monarchy with 32 per cent opposed. Similarly in Atlantic Canada, it was 54 per cent in favour and 31 per cent against.
That compared to 52 per cent in favour in Manitoba and Saskatchewan with 32 per cent opposed.
Alberta, home to a smouldering secessionist movement, was 46 per cent in favour with 37 per cent opposed while British Columbia was 43 per cent in favour and 37 per cent against.
Read more
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First National Financial Corporation agrees to be acquired by Birch Hill Equity Partners and Brookfield, with existing shareholders Stephen Smith and Moray Tawse maintaining minority ownership
First National Financial Corporation agrees to be acquired by Birch Hill Equity Partners and Brookfield, with existing shareholders Stephen Smith and Moray Tawse maintaining minority ownership

Cision Canada

time43 minutes ago

  • Cision Canada

First National Financial Corporation agrees to be acquired by Birch Hill Equity Partners and Brookfield, with existing shareholders Stephen Smith and Moray Tawse maintaining minority ownership

TORONTO, July 27, 2025 /CNW/ - First National Financial Corporation (the "Company" or "First National") (TSX: FN) (TSX: (TSX: today announced that it has entered into a definitive arrangement agreement (the "Arrangement Agreement") with Regal Bidco Inc. (the "Purchaser"), a newly-formed acquisition vehicle controlled by private equity funds managed by Birch Hill Equity Partners Management Inc. ("Birch Hill") and private equity funds managed by Brookfield Asset Management ("Brookfield"), whereby the Purchaser will acquire all of the outstanding common shares (the "Shares") of the Company, other than the Rollover Shares (as defined below) (the "Transaction"), for $48.00 per Share in cash (the "Purchase Price"). As part of the Transaction, the Company's founders, Stephen Smith and Moray Tawse (together with their associates and affiliates, the "Rolling Shareholders"), who currently hold approximately 37.4% and 34.0%, respectively, of the outstanding Shares, will each sell approximately two-thirds of their current shareholdings in the Company for the same cash consideration per Share as other shareholders, and have agreed to exchange their remaining Shares (the "Rollover Shares") for ownership interests in the Purchaser. As a result, on closing of the Transaction, Messrs. Smith and Tawse are each expected to maintain an indirect approximate 19% interest in First National, with Birch Hill and Brookfield holding the remaining approximate 62% interest. The Transaction is not subject to any financing condition and is expected to close in the fourth quarter of 2025, subject to obtaining the required shareholder, court and regulatory approvals and the satisfaction of other customary closing conditions. The Purchase Price represents a premium of approximately 15.2% and 22.8% to the 30 and 90-trading day volume weighted average trading price, respectively, of the Shares on the Toronto Stock Exchange (the "TSX") on July 25, 2025, the last trading day prior to the announcement of the Transaction. The Purchase Price is also above the 52-week high closing price of the Shares as of July 25, 2025 and represents a total shareholder return of approximately 2,149% on the Company's initial public offering Share price, including the Company's historical dividend payments. The Purchase Price implies an aggregate total equity value of approximately $2.9 billion, inclusive of the Rollover Shares, and values the Company at a 16.5x price-to-earnings multiple based on the Company's reported trailing twelve months net income attributable to common shareholders as of March 31, 2025. "This Transaction represents the start of an exciting new chapter for First National," said Jason Ellis, CEO of First National. "Birch Hill and Brookfield bring significant expertise in the Canadian financial services industry, and we are excited to partner with them to grow our platform, drive innovation, and deliver for our customers, employees and institutional partners." Transaction Details The Transaction emerged from a robust strategic review process conducted by the Company, under the oversight of a committee of independent directors (the "Special Committee") advised by independent and highly qualified legal and financial advisors. The review process involved a competitive process in which multiple acquisition proposals were received and reviewed by the Special Committee. The Company entered into the Arrangement Agreement based on the unanimous approval of the Company's board of directors (the "Board") (with conflicted directors abstaining) after receiving the unanimous recommendation of the Special Committee. Both the Board and the Special Committee determined, after receiving financial and legal advice, that the Transaction is in the best interests of the Company and the consideration to be received by the holders of the Shares (the "Shareholders") (other than the Rolling Shareholders) is fair, and recommend that Shareholders vote in favour of the Transaction at the special meeting of Shareholders to be held to approve the Transaction. In connection with the Transaction, the Rolling Shareholders, who collectively hold approximately 71.4% of the outstanding Shares, have entered into irrevocable voting agreements agreeing to vote their Shares in favour of the Transaction and against any competing acquisition proposals. In addition, each of the other directors and executive officers of the Company, who collectively hold less than 1% of the outstanding Shares, have entered into voting agreements agreeing to vote their Shares in favour of the Transaction. Under the terms of the Transaction, the Class A Preference Shares, Series 1 (the "Series 1 Preferred Shares") and Class A Preference Shares, Series 2 (the "Series 2 Preferred Shares" and, together with the Series 1 Preferred Shares, the "Preferred Shares") of the Company are expected to remain outstanding in accordance with their terms following closing of the Transaction. The Preferred Shares will continue to be listed on the TSX and, as a result, the Company will continue to be a reporting issuer under applicable Canadian securities laws following closing of the Transaction. The 2.961% Series 3 Senior Unsecured Notes due November 17, 2025, 7.293% Series 4 Senior Unsecured Notes due September 8, 2026 and the 6.261% Series 5 Senior Unsecured Notes due November 1, 2027 (collectively, the "Company Notes") will be redeemed on the closing of the Transaction to the extent outstanding at such time. Each holder of Company Notes outstanding at such time will receive a cash amount equal to the applicable redemption price, plus accrued and unpaid interest, as of the closing date in accordance with the terms of such holder's Company Notes. First National intends to continue paying its regular monthly cash dividend of $0.208334 per Share in the ordinary course through to closing of the Transaction and regular quarterly dividends on the Preferred Shares in accordance with their terms. Transaction Rationale The conclusions and recommendations of the Special Committee and the Board were based on a number of factors, including the following: Compelling Value and Immediate Liquidity to Shareholders: The all-cash Purchase Price provides Shareholders with certainty of value and immediate liquidity. The Purchase Price represents a premium of approximately 15.2% and 22.8% to the 30 and 90-trading day volume weighted average trading price, respectively, per Share as of July 25, 2025, and is also above the 52-week high closing price of the Shares as of that date. Market Check: The Transaction is the result of a robust strategic review process led by the Company's financial advisor, RBC Capital Markets, which included outreach to a broad pool of potential buyers and resulted in multiple acquisition proposals, of which the proposal submitted by the Purchaser offered the highest value to Shareholders. Formal Valuation: The Special Committee received an opinion from its independent valuator and financial advisor BMO Capital Markets ("BMO") that, as of July 27, 2025, and based on BMO's analysis and subject to the assumptions, limitations and qualifications to be set forth in BMO's written valuation, the fair market value of the Shares is in the range of $44.00 to $50.00 per Share. Fairness Opinion: The Special Committee received an opinion from BMO that, as of July 27, 2025, and subject to the assumptions, limitations and qualifications to be set forth in BMO's written fairness opinion, the consideration to be received by Shareholders (other than the Rolling Shareholders) pursuant to the Transaction is fair, from a financial point of view, to such Shareholders. Arrangement Agreement Terms: The Arrangement Agreement is the result of a comprehensive negotiation process that was undertaken at arm's length with the oversight and participation of the Special Committee advised by independent and highly qualified legal and financial advisors and resulted in terms and conditions that are reasonable in the judgment of the Special Committee and the Board. Ability to Respond to Superior Proposal: Under the Arrangement Agreement, the Board of Directors, in certain circumstances until Shareholder approval is obtained, is able to consider any unsolicited acquisition proposals, and where the Board determines that an acquisition proposal is a superior proposal may, subject to a right to match in favour of the Purchaser, withdraw, modify or amend its recommendation that Shareholders vote to approve the Arrangement. However, under the Arrangement Agreement the Company is required to proceed with holding a vote on the Transaction, even if the Board has changed its recommendation. Break Fee: The break fee payable by the Company of $50 million is only payable in limited circumstances such as where the Arrangement Agreement is terminated as a result of a change in the Board's recommendation. Reverse Break Fee: The Company is entitled to a reverse break fee of $75 million in certain circumstances, including if the Arrangement Agreement is terminated by the Company as a result of the Purchaser's failure to close. No Financing Condition: The Transaction is not subject to a financing condition. Minority Vote and Court Approval: The Transaction must be approved by two-thirds of the votes cast by Shareholders, as well as by a simple majority of the votes cast by Shareholders excluding the Shares held by the Rolling Shareholders and any other Shareholders required to be excluded from such vote in the context of a "business combination" pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"), and by the Ontario Superior Court of Justice (Commercial List), which will consider the fairness and reasonableness of the Transaction to Shareholders. Support for the Transaction: As described above, the Rolling Shareholders as well as all of the directors and executive officers of the Company have entered into voting agreements, pursuant to which they have agreed to, among other things, vote in favour of the Transaction at the special meeting of Shareholders to be held to approve the Transaction. Formal Valuation and Fairness Opinion In connection with its review and consideration of the Transaction, the Special Committee engaged BMO as its independent valuator and financial advisor and requested that BMO prepare a formal valuation in accordance with MI 61-101. BMO delivered an oral opinion that, as of July 27, 2025, and based on BMO's analysis and subject to the assumptions, limitations and qualifications to be set forth in BMO's written valuation, the fair market value of the Shares is in the range of $44.00 to $50.00 per Share. In addition, BMO provided an oral opinion that, as of July 27, 2025, and subject to the assumptions, limitations and qualifications to be set forth in BMO's written fairness opinion, the consideration to be received by Shareholders (other than the Rolling Shareholders) pursuant to the Transaction is fair, from a financial point of view, to such Shareholders. Additional Transaction Details The Transaction is to be completed by way of a plan of arrangement under the Business Corporations Act (Ontario). The Transaction is subject to a number of conditions customary for transactions of this nature, including, among others: (i) the approval of at least two-thirds of the votes cast by Shareholders (including the Rolling Shareholders) at a special meeting of Shareholders; (ii) the approval of a simple majority of the votes cast by Shareholders other than the Rolling Shareholders and any other Shareholders required to be excluded pursuant to MI 61-101 at such special meeting; (iii) clearance under the Competition Act (Canada); and (iv) court approval. Completion of the Transaction is not subject to a financing condition. The Company expects to hold the special meeting of Shareholders to consider and vote on the Transaction in September 2025. If approved at the meeting, the Transaction is expected to close in the fourth quarter of 2025, subject to court approval, Competition Act (Canada) clearance and other customary closing conditions. Following closing of the Transaction, the Purchaser intends to cause the Shares to be delisted from the TSX. The Preferred Shares will remain listed on the TSX. Jason Ellis is expected to remain First National's Chief Executive Officer and lead the business in all aspects of its operations. First National's current leadership team is also expected to continue following the conclusion of the Transaction. Further information regarding the terms and conditions of the Transaction are set out in the Arrangement Agreement, which will be publicly filed under the Company's SEDAR+ profile at Additional information regarding the terms of the Arrangement Agreement, the background to the Transaction, the independent valuation and fairness opinion and the rationale for the recommendation by the Special Committee and the Board will be provided in the information circular for the special meeting of Shareholders, which will also be filed under the Company's SEDAR+ profile at Early Warning Disclosure by the Rolling Shareholders Further to the requirements of National Instrument 62-104 – Take-Over Bids and Issuer Bids and National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, Stephen Smith, 16 York Street, Suite 1900, Toronto, Ontario, M5J 0E6, will file an amended early warning report in connection with his participation in the Transaction as a Rolling Shareholder and for which he has entered into an irrevocable voting agreement agreeing to vote his Shares in favour of the Transaction and against any competing acquisition proposals, which agreement restricts the ability to vote for, support or participate in a competing transaction for as long as the Arrangement Agreement is in force and for a period of four months following the termination of the Arrangement Agreement in certain circumstances, including as a result of the failure to obtain the required Shareholder approval. Stephen Smith, through Smith Financial Corporation ("SFC") and FNSC Holdings Inc. ("FNSC", and together with SFC, the "Smith Entities"), currently owns 22,409,355 of the issued and outstanding Shares representing approximately 37.4% of the issued and outstanding Shares (on a fully diluted basis). SFC intends to transfer ownership of its Rollover Shares to a newly formed Ontario limited partnership prior to closing of the Transaction in exchange for units of the partnership. Following completion of the Transaction, Stephen Smith will beneficially own an indirect approximate 19% interest in First National. The Smith Entities hold Shares for investment purposes and expect to review from time to time the investment in the Company and may, depending on the market and other conditions: (i) acquire additional securities, options or related derivatives in the open market, in privately negotiated transactions or otherwise, and (ii) dispose of all or a portion of the securities, options or related derivatives over which they now or hereafter exercise, or may be deemed to exercise, control or direct. A copy of Stephen Smith's related early warning report will be filed with the applicable securities commissions and will be filed under the Company's SEDAR+ profile at Further information and a copy of the early warning report of Stephen Smith may be obtained by contacting: Justin Brenner, SVP, Managing Director, Smith Financial Corporation, [email protected], (647) 446-2122. Further to the requirements of National Instrument 62-104 – Take-Over Bids and Issuer Bids and National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, Moray Tawse, 16 York Street, Suite 1900, Toronto, Ontario, M5J 0E6 will file an amended early warning report in connection with his participation in the Transaction as a Rolling Shareholder and for which he has entered into an irrevocable voting agreement agreeing to vote his Shares in favour of the Transaction and against any competing acquisition proposals, which agreement restricts the ability to vote for, support or participate in a competing transaction for as long as the Arrangement Agreement is in force and for a period of four months following the termination of the Arrangement Agreement in certain circumstances, including as a result of the failure to obtain the required Shareholder approval. Moray Tawse, through 801420 Ontario Limited ("Tawse Holdco") and The Tawse Family Charitable Foundation (The Tawse Family Charitable Foundation together with Tawse Holdco, the "Tawse Entities"), currently owns 20,404,355 Shares representing approximately 34.0% of the issued and outstanding Shares (on a fully diluted basis). Tawse Holdco intends to transfer ownership of its Rollover Shares to a newly formed Ontario limited partnership prior to closing of the Transaction in exchange for units of the partnership. Following completion of the Transaction, Moray Tawse will beneficially own an indirect approximate 19% interest in First National. The Tawse Entities hold Shares for investment purposes and expect to review from time to time the investment in the Company and may, depending on the market and other conditions: (i) acquire additional securities, options or related derivatives in the open market, in privately negotiated transactions or otherwise, and (ii) dispose of all or a portion of the securities, options or related derivatives over which they now or hereafter exercise, or may be deemed to exercise, control or direct. A copy of Moray Tawse's related early warning report will be filed with the applicable securities commissions and will be filed under the Company's SEDAR+ profile at Further information and a copy of the early warning report of Moray Tawse may be obtained by contacting: Eric Torelli, Chief Financial Officer, Chambertin Asset Management Ltd., [email protected], (416) 994-7507. The Company's head office address is 16 York Street, Suite 1900, Toronto, Ontario, M5J 0E6. Advisors RBC Capital Markets is acting as financial advisor to the Company. BMO Capital Markets is acting as financial advisor and independent valuator to the Special Committee. Torys LLP is acting as legal advisor to the Company. Blake, Cassels & Graydon LLP is acting as legal advisor to the Special Committee. CIBC Capital Markets is acting as financial advisor and Davies Ward Phillips & Vineberg LLP is acting as legal advisor to Birch Hill and Brookfield. Birch Hill and Brookfield's debt financing for the transaction was fully underwritten by Canadian Imperial Bank of Commerce, RBC Capital Markets, and TD Securities, as Joint Bookrunners and Co-Lead Arrangers. Initial commitments were also provided by The Bank of Nova Scotia and National Bank of Canada, and will be followed by a general syndication. About First National First National Financial Corporation is the parent company of First National Financial LP, a Canadian-based originator, underwriter and servicer of predominantly prime residential (single-family and multi-unit) and commercial mortgages. With more than $155 billion in mortgages under administration, First National is one of Canada's largest non-bank mortgage originators and underwriters. For more information, please visit About Birch Hill Birch Hill is a Canadian mid-market private equity firm with a long history of driving growth in its portfolio companies and delivering returns to its investors. Based in Toronto, Birch Hill currently has over $6 billion in capital under management. Since 1994, the firm has made 73 investments, with 59 fully realized. Today, Birch Hill's 14 partner companies collectively represent one of Canada's largest corporate entities with over $8 billion in total revenue and more than 40,000 employees. About Brookfield Brookfield Asset Management (NYSE: BAM, TSX: BAM) is a leading global alternative asset manager with over US$1 trillion of assets under management. Brookfield invests client capital for the long term with a focus on real assets and essential service businesses that form the backbone of the global economy. Brookfield offers a range of alternative investment products to investors around the world — including public and private pension plans, endowments and foundations, sovereign wealth funds, financial institutions, insurance companies and private wealth investors. Brookfield's private equity business, which manages over US$145 billion of assets under management, focuses on driving operational transformation in businesses providing essential products and services. Forward-Looking Information This news release contains statements that are "forward-looking information" within the meaning of applicable securities laws. In some cases, forward-looking information can be identified by the use of terms such as "may", "will, "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts. Forward-looking statements include, among other things, statements with respect to the Transaction, including statements with respect to the rationale of the Special Committee and the Board for entering into the Arrangement Agreement, the terms and conditions of the Arrangement Agreement, the premium to be received by Shareholders, the expected benefits of the Transaction, the intention to continue to pay monthly dividends on the Shares and regular quarterly dividends on the Preferred Shares, the anticipated timing and the various steps to be completed in connection with the Transaction, including receipt of Shareholder, court and regulatory approvals, the anticipated timing for closing of the Transaction, the anticipated delisting of the Shares from the TSX, the anticipated treatment of the Preferred Shares and the Company Notes and the Company's status as a reporting issuer under applicable securities laws. Forward-looking statements are necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by the Company as of the date of this news release, are subject to inherent uncertainties, risks and changes in circumstances that may differ materially from those contemplated by the forward-looking information. Important factors that could cause actual results to differ, possibly materially, from those indicated by the forward-looking information include, but are not limited to: the possibility that the Transaction will not be completed on the terms and conditions, or on the timing, currently contemplated, and that it may not be completed at all due to a failure to obtain or satisfy, in a timely manner or otherwise, required shareholder and court approvals and other conditions of closing necessary to complete the Transaction or for other reasons; the possibility of adverse reactions or changes in business relationships resulting from the announcement or completion of the Transaction; risks relating to the retention of key personnel during the interim period; the possibility of litigation relating to the Transaction; risks related to the diversion of management's attention from the Company's ongoing business operations; and the other risk factors identified under "Risks and Uncertainties Affecting the Business" in the Company's latest management's discussion and analysis and in other periodic filings that the Company has made and may make in the future with the securities commissions or similar regulatory authorities in Canada, all of which are available under the Company's SEDAR+ profile at These factors are not intended to represent a complete list of the factors that could affect the Company. However, such risk factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. You should not place undue reliance on forward-looking information, which speaks only as of the date of this release and is subject to change after such date. Management and First National disclaim any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required under securities laws.

Anand says Ottawa's trucks of humanitarian aid ready to enter Gaza Strip
Anand says Ottawa's trucks of humanitarian aid ready to enter Gaza Strip

Global News

time7 hours ago

  • Global News

Anand says Ottawa's trucks of humanitarian aid ready to enter Gaza Strip

Foreign Affairs Minister Anita Anand says Ottawa has trucks of aid ready to reach desperate Palestinians in Gaza, and is counting on Israel to allow them through. Anand says Jordan, which borders Israel and the West Bank, has allowed Canada to pre-position aid, until Israel allows it to enter the Gaza Strip. She says she spoke with her Israeli counterpart Friday 'to seek assurances that trucks carrying Canadian aid would be allowed to enter Gaza.' Get daily National news Get the day's top news, political, economic, and current affairs headlines, delivered to your inbox once a day. Sign up for daily National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy Since then, Israel has said it would allow for some humanitarian corridors to be established, so that United Nations groups can deliver aid, as well as possible airdrops. 0:58 Canada's Foreign Affairs Minister Anand calls for ceasefire, rules out Hamas role in Gaza future The decision came after months of experts warning that Israel's tight restrictions on aid risk creating a famine, and after hundreds of Palestinians have been killed while trying to seek food at sites established by Israel. Story continues below advertisement Israel has downplayed reports by numerous humanitarian groups operating on the ground of starvation deaths, and claims the UN has failed to distribute aid, though UN agencies say Israel still isn't allowing in enough food and fuel.

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