‘I want to achieve something big': Billionaire mall owner Weihong Liu reveals plans for old Hudson's Bay leases
Clutching three Hudson's Bay employee training manuals from 1938, Liu, the petite Chinese entrepreneur, seated in a restaurant at the downtown Toronto Marriott Hotel on Tuesday morning, said in a rare in-person interview with the Star that she understands why the iconic Canadian retailer closed its doors — and that she knows the secret to building something new and successful.
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The Province
an hour ago
- The Province
Australia lifts 22-year ban on Canadian beef after herds declared free of 'mad cow disease'
Australia lifted a similar ban on U.S. beef imports last week Australia has lifted its ban on Canadian beef 22 years after mad cow disease was confirmed in Canadian beef cows. In 2021, Canada was officially recognized by the World Organisation of Animal Health as having negligible risk for BSE. Photo by JEFF MCINTOSH / THE CANADIAN PRESS The Australian market for Canadian beef has reopened after that country lifted a 22-year-old ban on Canada's beef products, according to the Canadian Food Inspection Agency (CFIA). This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Exclusive articles by top sports columnists Patrick Johnston, Ben Kuzma, J.J. Abrams and others. Plus, Canucks Report, Sports and Headline News newsletters and events. Unlimited online access to The Province and 15 news sites with one account. The Province ePaper, an electronic replica of the print edition to view on any device, share and comment on. Daily puzzles and comics, including the New York Times Crossword. Support local journalism. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Exclusive articles by top sports columnists Patrick Johnston, Ben Kuzma, J.J. Abrams and others. Plus, Canucks Report, Sports and Headline News newsletters and events. Unlimited online access to The Province and 15 news sites with one account. The Province ePaper, an electronic replica of the print edition to view on any device, share and comment on. Daily puzzles and comics, including the New York Times Crossword. Support local journalism. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Australia lifted a similar ban on U.S. beef imports last week, according to Reuters News Agency. Regaining access to the Australian market offers economic potential for Canadian farmers and processors, says the CFIA. 'By opening access to premium markets like Australia, Canadian producers can increase exports, generating new revenue streams.' The door to the Australian market was closed in 2003, due to the discovery of bovine spongiform encephalopathy (BSE) in Canada. Commonly known as 'mad cow disease,' BSE is fatal among beef herds and has been linked to Variant Creutzfeldt-Jakob disease in humans, when consumed. That disease is also fatal, according to the U.S. Centres for Disease Control. 'The first North American BSE case was reported in 1993 in a cow imported into Canada from the UK,' says the CDC. It 'may have been responsible for 19 additional Canadian BSE cases beginning in 2003.' Essential reading for hockey fans who eat, sleep, Canucks, repeat. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. Six BSE cases in cows in the United States were also identified back then. One was a Canadian import thought to have been infected in Canada, says the CDC. However, i n 2021, Canada was officially recognized by the World Organisation of Animal Health as having negligible risk for BSE. The Canadian Cattle Association celebrated the news. In a press release issued on Tuesday, the association said it 'i s pleased to see Australia, one of the last remaining countries to have maintained bovine spongiform encephalopathy (BSE) restrictions, complete their risk assessment and open their market for Canadian beef.' CCA President Tyler Fulton was quoted as saying: 'Canadian beef farmers and ranchers are proud to produce the highest quality and safest beef in the world. As the demand for Canadian beef around the world continues to grow, we look forward to every new market opportunity.' This advertisement has not loaded yet, but your article continues below. 'Canada is known around the world for producing top-quality beef,' says Heath MacDonald, Minister of Agriculture and Agri-Food. 'Strengthening our trade ties with Australia—one of our key partners in the Indo-Pacific — means more opportunities for Canadian farmers and processors to grow their businesses, create good jobs, and build up our economy.' As of 2024, says the CFIA, Canada ranked 8 th among global beef exporters. Canadian exports of agriculture and agri-food (not including fish and seafood) was $92.2 billion in 2024. Read More Our website is the place for the latest breaking news, exclusive scoops, longreads and provocative commentary. Please bookmark and sign up for our daily newsletter, Posted, here. Vancouver Canucks Local News Vancouver Whitecaps News Celebrity
Cision Canada
an hour ago
- Cision Canada
MTL Cannabis Corp. Closes $27 Million Credit Facility with Canadian Schedule 1 Bank
Provides access to new capital for operational flexibility and growth through capital expenditures Refinances approximately $19 million of current debts, consolidating and strengthening the Company's balance sheet Postponing and subordinating approximately $8 million in shareholder loans from the Company's founders, further bolstering liquidity PICKERING, ON, July 30, 2025 /CNW/ - MTL Cannabis Corp. (CSE: MTLC) (OTCQX: MTLNF) (the "Company") is pleased to announce that it has closed a credit agreement (the "Credit Facility") with a leading Canadian Schedule 1 bank for an aggregate of approximately $27 million. The purposes of the Credit Facility are to (i) assist with growth capital expenditures, (ii) finance working capital needs for the Company, and (iii) refinance pre-existing debts (the "Existing Debts"). The Credit Facility is comprised of (i) an uncommitted demand revolving credit facility of up to $4,000,000, margined against the eligible account receivables of the company (ii) a committed non-revolving term credit facility available by way of a single drawdown in an amount equal to $6,750,000, with a contractual term of three (3) years, (iii) a committed non-revolving term credit facility available by way of a single drawdown in an amount equal to $12,150,000, with a contractual term of three (3) years, and (iv) an uncommitted delayed draw non-revolving term credit facility available by way of one or more drawdowns in a total aggregate amount of $4,120,000. The Credit Facility will bear an interest rate of Prime or adjusted term CORRA plus an applicable margin. The Credit Facility is secured against (i) all of the present and after-acquired undertakings, property and assets of the Company and its material operating subsidiaries, and (ii) the property located at 551 Rue Saint-Marc, Louiseville, QC, by a first-ranking collateral mortgage. "We are incredibly excited to partner with the team to finance the continued growth of the business and strengthen our balance sheet," said Michael Perron, CEO of the Company. "We fully appreciate the confidence that the bank has in our management team and the business we have built, and we look forward towards repaying that trust with continued performance as we grow together in the coming years." The Existing Debts being refinanced under the Credit Facility were derived solely from the predecessor business of Canada House Cannabis Corp. and incurred prior to the completion of the business combination of Canada House Cannabis Corp. and Montréal Cannabis Médical Inc., and include the entirety of the $8,316,830.21 in amounts payable pursuant to the convertible debenture issued on August 4, 2020, as amended, to Archerwill Investments Inc., and delivery of all remaining related 14,466,568 prepayment warrants with an exercise price $0.5749; $10,041,094.94 in amounts payable pursuant to the historical acquisition of IsoCanMed Inc. that closed June 12, 2020; and approximately $575,000 in amounts payable pursuant to the secured debentures issued on December 5, 2017. "We view the refinancing of the legacy Canada House creditors as the final chapter in the closing of the business combination between Canada House and MTL Cannabis," added Richard Clement, Chairman and co-founder of MTL Cannabis Corp. "We are extremely proud of managements' financial stewardship of the combined company and the turnaround of our financial position that this milestone symbolizes." About MTL Cannabis Corp. MTL Cannabis Corp. is the parent company of Montréal Medical Cannabis Inc. ("MTL Cannabis"), a licensed producer operating from a 57,000 sq ft licensed indoor grow facility in Pointe Claire, Québec; Abba Medix Corp., a licensed producer in Pickering, Ontario that operates a leading medical cannabis marketplace; IsoCanMed Inc., a licensed producer in Louiseville, Québec growing best-in-class indoor cannabis, in its 64,000 sq. ft. production facility; and Canada House Clinics Inc., operating clinics across Canada that work directly with primary care teams to provide specialized cannabinoid therapy services to patients suffering from simple and complex medical conditions. As a flower-first company built for the modern street, MTL Cannabis uses proprietary hydroponic growing methodologies supported by handcrafted techniques to produce products that are truly craft for the masses. MTL Cannabis focuses on craft quality cannabis products, including lines of dried flower, pre-rolls and hash marketed under the "MTL Cannabis", "Low Key by MTL" and "R'belle" brands for the Canadian market through nine distribution arrangements with various provincial cannabis distributors. MTL Cannabis has also developed several export channels for bulk and unbranded GACP quality cannabis. It is the Company's goal for Abba Medix Corp. to become the leading distributor of medical cannabis in Canada and for Canada House Clinics Inc. to be the leading Canadian provider of medical cannabis clinic services. For further information, please visit or the Company's public filings at Cautionary Statement Regarding Forward-Looking Information. This press release contains forward- looking statements, including statements that relate to, among other things, drawdowns and use of proceeds from the Credit Facility, including the repayment of the Existing Debts, the Company's clinic, production and technology businesses, its future plans, the Company's markets, objectives, goals, strategies, intentions, beliefs, expectations and estimates, and can generally be identified by the use of words such as "may", "will", "could", "should", "would", "likely", "possible", "expect", "intend", "estimate", "anticipate", "believe", "plan", "objective" and "continue" (or the negative thereof) and words and expressions of similar import. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements. Certain material factors or assumptions are applied in making forward-looking statements, and actual results may differ materially from those expressed or implied in such statements. Material assumptions used to develop forward-looking information in this news release include, the regulations related to cannabis use under the Cannabis Act (Canada); Company liquidity and capital resources, including the availability of additional capital resources to fund its activities and repay its outstanding indebtedness; level of competition; the ability to adapt products and services to the changing market; the ability to attract and retain key executives; the ability to execute strategic plans; continued integration of business unit, expansion activities at all our operating locations; and the leveraging of cash flow from operations to accelerate growth and further improve the Company's balance sheet. Additional information about material factors that could cause actual results to differ materially from expectations and about material factors or assumptions applied in making forward-looking statements may be found in the Company's Listing Statement dated August 14, 2023 and its most recent annual and interim Management's Discussion and Analysis under "Risk and Uncertainties" as well as in other public disclosure documents filed with Canadian securities regulatory authorities. The Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements contained in this document, whether as a result of new information, future events or otherwise, except as required by law.
Toronto Sun
an hour ago
- Toronto Sun
LILLEY: Don't expect a trade deal with Trump as deadline looms
Canadian officials are in Washington, but optimism isn't high as August 1 deadline nears. Get the latest from Brian Lilley straight to your inbox Canada's top officials were in Washington on Wednesday, but don't expect a deal to stop new tariffs by Friday. It hasn't been a good few days for Canada on the trade negotiation front. Donald Trump was in Scotland over the past few days brokering deals with the European Union and solidifying his agreement with Britain. His top trade advisor, Jamieson Greer, spent the last few days in Sweden negotiating with Chinese officials. Meanwhile, Mark Carney was in New Brunswick celebrating Acadian heritage and then in Prince Edward Island announcing that the toll to take the bridge to the island would drop from $50 to $20. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account It's not quite the same as setting up an international trade deal, is it? Donald Trump has said that if he doesn't have a new trade deal with Canada by Aug. 1, then we will face a new 35% tariff. What that means and how it will be applied given the existing CUSMA trade deal remains to be seen, but it won't be good for Canada's economy. We should be doing everything we can to avoid new tariffs. We already have the 50% tariffs on steel and aluminum; we have the increased softwood lumber tariffs of 20.56% — up from 14.54% just a few months ago. To try and stop this onslaught of new tariffs, Dominic LeBlanc, the minister in charge of the Canada-U.S. trade file was in Washington on Wednesday, as was Prime Minister Mark Carney's chief of staff, Marc-Andre Blanchard. Your noon-hour look at what's happening in Toronto and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. Unfortunately, they were not meeting with top officials in the Trump administration because those officials, like Greer, were busy meeting with officials from other countries. Recommended video There is an attempt to downplay the idea that Canada will get a deal before Aug. 1 and if we do get a deal, that it won't include some kind of baseline tariff, such as 10% or less. 'It's an uphill push and having to deal with inconsistent asks from the other side,' is how one Canadian official described the ongoing talks. While the Americans are seen as changing targets and what they are asking for, the American side says that Canada isn't negotiating in good faith. From the outside, it's difficult to know what is truly happening. Each side has their own trade irritants with the other and neither side appears to be willing to come to a deal. Meanwhile, Mexico is close to a deal with Trump. Unlike Canada, Mexico has never raised a retaliatory tariff; they threatened, but didn't execute. Now, just as in 2017, Mexico may get a deal with Trump while Canada is frozen out. Goldy Hyder, the President and CEO of the Business Council of Canada, landed in Washington for meetings midday on Wednesday. As he headed to have discussions with top American officials, he said that Canada may not be able to escape a deal that doesn't involve tariffs on some level. This advertisement has not loaded yet, but your article continues below. Trump posted on Truth Social this morning to say there won't be an extension of the August 1 deadline. Where is Carney? He's holding a cabinet meeting today. — Brian Lilley (@brianlilley) July 30, 2025 'It's a game of relativity, we just have to better relative to others,' Hyder said. He noted Britain having a deal with 10% tariffs, saying that was better than the 15% that the European Union had agreed to — and hoped Canada could do even better. Trump's Commerce Secretary Howard Lutnick suggested just over a week ago that a trade deal with Canada might involve no tariffs, if we opened our markets to the Americans. What that meant and what the price would be has never been disclosed by the American or Canadian side. Bottom line, Canadian workers and Canadian employers are going to be sitting and wondering how things will go over the next few days and whether what is decided between Ottawa and Washington results in job losses. Uncertainty is the worst for the business sector; right now, that is all we have. MLB Celebrity Wrestling Toronto & GTA Ontario
