Latest news with #Transaction
Cision Canada
a day ago
- Business
- Cision Canada
Clarification by Transat A.T. Inc. following injunction application by Financière Outremont Inc. Français
MONTREAL, June 27, 2025 /CNW/ - Transat A.T. Inc. ("Transat" or the "Corporation") announces that on June 27, 2025, it was served with an application for an interlocutory injunction and permanent injunction (the "Injunction Application") from Financière Outremont Inc. ("Financière Outremont"), a company controlled by Mr. Pierre Karl Péladeau, in connection with the announcement of the agreement in principle published on June 5, 2025, with Canada Enterprise Emergency Funding Corporation ("CEEFC") regarding the restructuring of the debt incurred by Transat under the Large Employer Emergency Funding Facility (LEEFF) program managed by CEEFC during the COVID-19 pandemic (the "Transaction"). Since the announcement of the agreement in principle, the Corporation's share price has increased from $1.64 at market close on June 4, 2025, to $2.83 at market close on June 27, 2025, representing a 72% increase. As a reminder, upon completion of the Transaction, the outstanding debt with CEEFC will be written-off by nearly 50%, from $772M as at March 31, 2025, to $334M as follows: Repayment of $41.4M in cash to CEEFC Credit facilities reduced to a single credit facility of $175M Issuance to CEEFC of a $158,735,045 debenture maturing in 10 years Issuance to CEEFC of non-voting preferred shares convertible into Class B Voting Shares valued at $16,264,955 (the "Preferred Shares") Extension of the expiry of the 13,000,000 existing warrants (the "Warrants") to April 29, 2035 At no time will the exercise of Warrants or conversion of Preferred Shares result in CEEFC beneficially owning more than 19.9% of the common shares, and therefore, CEEFC will not exert control over the Corporation. The Injunction Application by Financière Outremont aims in particular to prevent the closing of the Transaction, beneficial for the Corporation, unless the Corporation obtains shareholder approval, which the Corporation deems not required. In this regard, the Corporation reiterates that it has rightfully relied on the formal valuation and minority approval exemptions contained in sections 5.5(g) and 5.7(1)(e) of Regulation 61-101 respecting Protection of Minority Security Holders in Special Transactions, given that the Transaction significantly strengthens the financial position of the issuer, which was becoming extremely precarious due to the size of its debt, as repeatedly disclosed in the Corporation's public filings. The Corporation believes the allegations made by Financière Outremont are unfounded and intends to contest them vigorously and seek dismissal of the Injunction Application. This application does not affect the Corporation's operations. The Corporation recalls that the announced Transaction is the result of discussions initiated over 18 months ago with CEEFC and the review of a range of alternatives conducted through a robust process with the assistance of a special advisory committee of the Board of Directors composed solely of independent directors, with a view to establishing an optimal long-term capital structure for the Corporation. The Transaction was unanimously approved by the Board of Directors on the recommendation of the special committee, which completed its work with the assistance of external financial and legal advisors. The usual conditional approval of the Toronto Stock Exchange was obtained regarding the Preferred Shares component. The Transaction is subject to the finalization of definitive agreements. The Corporation does not intend to comment further on the Injunction Application out of respect for the ongoing judicial process unless circumstances warrant otherwise. For more details on the Transaction, please refer to the press release issued by the Corporation on June 5, 2025, available on SEDAR+ at Caution Regarding Forward-Looking Information This news release contains certain forward-looking statements with respect to the Corporation. These forward-looking statements are identified by the use of terms and phrases such as "anticipate" "believe" "could" "estimate" "expect" "intend" "may" "plan" "potential" "predict" "project" "will" "would", the negative of these terms and similar terminology, including references to assumptions. All such statements are made pursuant to applicable Canadian securities legislation. Such statements may involve but are not limited to comments with respect to strategies, expectations, planned operations or future actions. Forward-looking statements, by their nature, involve risks and uncertainties that could cause actual results to differ materially from those contemplated by these forward-looking statements. The forward-looking statements may differ materially from actual results for a number of reasons, including without limitation, economic conditions, changes in demand due to the seasonal nature of the business, extreme weather conditions, climatic or geological disasters, war, political instability, measures taken, planned or contemplated by governments regarding the imposition of tariffs on exports and imports, real or perceived terrorism, outbreaks of epidemics or disease, consumer preferences and consumer habits, consumers' perceptions of the safety of destination services and aviation safety, demographic trends, disruptions to the air traffic control system, the cost of protective, safety and environmental measures, competition, maintain and grow its reputation and brand, the availability of funding in the future, the Corporation's ability to repay its debt from internally generated funds or otherwise, the Corporation's ability to adequately mitigate the Pratt & Whitney GTF engine issues, fluctuations in fuel prices and exchange rates and interest rates, the Corporation's dependence on key suppliers, the availability and fluctuation of costs related to our aircraft, information technology and telecommunications, cybersecurity risks, changes in legislation, regulatory developments or procedures, pending litigation and third-party lawsuits, the ability to reduce operating costs through the Elevation program initiatives, among other things, the Corporation's ability to attract and retain skilled resources, labour relations, collective bargaining and labour disputes, pension issues, maintaining insurance coverage at favourable levels and conditions and at an acceptable cost, and other risks detailed in the Risks and Uncertainties section of the MD&A included in our 2024 Annual Report. The reader is cautioned that the foregoing list of factors is not exhaustive of the factors that may affect any of the Corporation's forward-looking statements. The reader is also cautioned to consider these and other factors carefully and not to place undue reliance on forward-looking statements. The Corporation considers that the assumptions on which these forward-looking statements are based are reasonable. These statements reflect current expectations regarding future events and operating performance, speak only as of the date this news release is issued, and represent the Corporation's expectations as of that date. For additional information with respect to these and other factors, see the MD&A for the quarter ended April 30, 2025 filed with the Canadian securities commissions and available on SEDAR+ at The Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by applicable securities legislation. About Transat A.T. Inc. Media site: Financial analysts: Jean-François Pruneau Chief Financial Officer [email protected] SOURCE Transat A.T. Inc.
Globe and Mail
2 days ago
- Business
- Globe and Mail
Eric Sprott Announces Voting Support Agreement for Tudor Gold Corp.'s Proposed Acquisition of American Creek Resources Ltd.
Toronto, Ontario--(Newsfile Corp. - June 26, 2025) - Further to the press release of American Creek Resources Ltd. dated today, Eric Sprott announces that 2176423 Ontario Ltd., a company which he beneficially owns, has entered into a voting support agreement with Tudor Gold Corp. in connection with Tudor Gold's agreement to acquire (Transaction) of all of the issued and outstanding common shares of American Creek (Shares). Under the terms of the arrangement agreement dated June 25, 2025, between American Creek and Tudor Gold, holders of Shares will be entitled to receive 0.238 common shares of Tudor Gold per Share. Mr. Sprott, through 2176423 Ontario, holds 65,000,000 Shares representing approximately 13.7% of the outstanding Shares. Mr. Sprott holds the Shares for investment purposes and to support the Transaction and, depending on market or other conditions, may acquire additional securities of American Creek. If the Transaction does not proceed and/or the voting support agreement is terminated, Mr. Sprott may acquire additional securities of American Creek including on the open market or through private acquisitions or sell the securities including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors. American Creek is located at 92 - 2nd Ave. West, Cardston, Alberta T0K 0K0. A copy of 2176423 Ontario's early warning report will appear on American Creek's profile on SEDAR+ at and may also be obtained by calling Mr. Sprott's office at (416) 945-3294 (2176423 Ontario Ltd., 1106 - 7 King Street East, Toronto, Ontario M5C 3C5).
Daily Mail
3 days ago
- Entertainment
- Daily Mail
ITV fans roar 'it's SO funny!' as all episodes of 'loveable' new sitcom are made free to binge-watch
ITV fans have shared their excitement at all episodes of a 'loveable' new sitcom being made free to binge-watch online. Sitcom Transaction, created and written by Jordan Gray, hit our screens on Tuesday night with its first episode. The show follows a transgender supermarket worker called Liv (Jordan Gray), who is hired by the manager in a bid to stop protests going on outside the Pellocks supermarket. Viewers have become hooked and luckily they can watch all six episodes on ITVX if they don't want to wait each week for a new one. Many have rushed to X, formerly known as Twitter, to share their rave reviews. '3 episodes done of new sitcom Transaction on Love it! Very funny and can't wait to watch the rest #Transaction.' The show follows a transgender supermarket worker called Liv (Jordan Gray), who is hired by the manager in a bid to stop protests going on outside the Pellocks supermarket 'Just watched the first episode of #Transaction on ITVX. If you know Jordan Gray and her humour, you'll love this.' 'Watching #Transaction and I must say, firstly, it's so funny.' Meanwhile others have rushed to IMDB to post what they think about it too. 'Brilliantly written, absolutely off the wall.' 'Refreshingly funny easy watch. Jordan Gray is amazing playing her quirky, egomaniac character. 'The show is very silly and easy to watch whilst doing other things, the comedy can be slightly low brow at times but it works with the ridiculous premise of the show and for her first sit-com is a true gem. 'The banter with the flatmate is top-notch and the whimsical shenanigans throughout the show just made me giggle the whole time.' 'Funny, self-aware, accomplished, and worth your time.' ITV's synopsis reads: 'A wickedly funny new sitcom with Jordan Gray & Nick Frost. 'Egomaniac Liv must fix a supermarket PR scandal that's outraged the trans community - but she's having fun first, of course!' The star-studded cast has also probably added to why people have been enjoying it so much. Nick Frost, Doon Mackichan, Thomas Gray and Francesca Mills joins Jordan on our screens. Speaking about her character, Jordan said of Liv to the Metro: 'She's a lone wolf character but really just wants to have a family. 'And then she finds this little weird dysfunctional family.' Meanwhile talking to Pink News, Jordan said: 'I started writing the first little version of it seven years ago, but it has been a good five years in development. Many have taken online to share their positive reviews about the programme - with one saying it's 'brilliantly written' 'It's weird because you get really good as a working-class comedian getting used to the suffering and the hard work. 'Now it's coming out, there's nothing to suffer for.' Jordan shot to fame in the 2000s. She has starred in the fifth series of The Voice UK in 2016. She's played herself on Friday Night Live, The Russell Howard Hour and Joe Lycett's Got Your Back.
Metro
4 days ago
- Entertainment
- Metro
ITV viewers 'love' new LGBTQ+ sitcom with all 6 episodes free to binge
ITV viewers have applauded the new LGBTQ+ show Transaction, as the first episode aired on Tuesday. Transaction aired as all six episodes of the new sitcom dropped on ITVX the same day, giving viewers the perfect new comedy binge for Pride Month. The ITV2 show follows transgender supermarket worker Liv, played by comedian and writer Jordan Gray, who is hired by Pellocks supermarket to try and paper over a live PR crisis. Liv only agrees to take on the shelf-stacking gig because her housemate Tom (Thomas Gray, no relation) has made it pretty clear he wants her to start contributing to the rent. Manager of Pellocks supermarket Simon, played by Nick Frost in full David Brent mode, hires Liv on the spot to quell an ongoing protest outside the store in the wake of an inadvertently offensive ad campaign. Liv uses the situation to her advantage, cracking up her fair share of pranks and shop hijinks – not to say there aren't heartfelt moments in the mix too. Liv soon gets the hang of working the night shift – as Simon says, 'while the customer snores, we sweep up the floors' – and settles in to a workplace comedy with a real bunch of characters for co-workers. With thousands of members from all over the world, our vibrant LGBTQ+ WhatsApp channel is a hub for all the latest news and important issues that face the LGBTQ+ community. Simply click on this link, select 'Join Chat' and you're in! Don't forget to turn on notifications! Transaction viewers took to X as the episodes dropped on Tuesday to praise the show's comic timing and urge others to jump on the bandwagon. @_MxMike tweeted: 'Just watched the first episode of #Transaction on ITVX. If you know Jordan Gray and her humour, you'll love this.' @BenMorrisGill echoed: 'Watching #Transaction and while I must say, firstly, it's so funny. I'm just a little confused at why the store manager and assistant manager work only at night?' @DoddsyKev weighed in to say they had already watched the first three episodes of the show, writing: 'Love it! Very funny and can't wait to watch the rest.' 'Well that was funny I hope it gets traction,' added @Matts_Tweeting after the first episode aired. Gray told the Metro in an exclusive interview ahead of the show's premiere that the six-parter was years in the making. More Trending The sitcom is written by Gray, who described her character Liv as follows: 'She's a lone wolf character but really just wants to have a family, and then she finds this little weird dysfunctional family.' A review in the RadioTimes described the sitcom as 'sharp, surreally funny' and 'gleefully crude', adding that the show could become an ITV mainstay. Essex-born Gray first shot to fame after reaching the finals in The Voice in 2016. She followed the competition show up with a hit live comedy Is It a Bird? View More » Transaction is on ITVX and ITV2 from Jun 24. Got a story? If you've got a celebrity story, video or pictures get in touch with the entertainment team by emailing us celebtips@ calling 020 3615 2145 or by visiting our Submit Stuff page – we'd love to hear from you. MORE: Met Police boss grilled into apologising to ITV's Selina Scott after vicious mugging MORE: Quantum Witch review and interview – video game development as therapy MORE: I think Jonathan Bailey and Scarlett Johansson should kiss more often
Daily Record
4 days ago
- Entertainment
- Daily Record
Transaction's Nick Frost says 'I couldn't live my life like this' as he addresses health battle
The actor has opened up on his recent health battle Hollywood actor Nick Frost has opened up on the "years" of pain as he said "I couldn't live my life like this." Nick, 53, is starring in a new ITV series called Transaction alongside co-star Jordan Gray. The synopsis reads: "A wickedly funny new sitcom with Jordan Gray & Nick Frost. Egomaniac Liv must fix a supermarket PR scandal that's outraged the trans community—but she's having fun first, of course!" And as the new series airs, the star has previously opened up on a health battle that had him in pain for "years". The 'Hot Fuzz' star disclosed he suffered from arthritis and needed a knee replacement, but had initially resisted due to being a "stubborn man". Nick finally agreed to the surgery but postponed the operation upon securing the role of Gobber the Belch in the live-action adaptation of 'How To Train Your Dragon'. Speaking on the Dish by Waitrose podcast, he disclosed: "I needed my knee replaced. I think, as a stupid, stubborn man, I get to a point where, if my pain level physically is only a four, I'm like, 'Today's a pretty good day', but like when you speak to doctors and stuff, they're like, 'Really, everyone's on a zero, that's where everyone's day starts'." Nick added: "But you get used to a physical pain where you're like, 'Okay I can handle today', so I just didn't have my knee replaced for years, and years, and years. And then I had a bit of time off and I'm like, I'm just going to do it, I can't live my life like this.", reports Devon Live. He added how his injury influenced his role: "Gobber has one leg so the director said, 'Don't have the operation, keep the leg as it is and we'll use it'. And so it helped me, I used the pain, and as soon as we finished I had it done." Nick underwent knee replacement surgery in June last year and subsequently took to social media, sharing that he was "in agony" during the recovery stage. He wrote: "I'm fine! I'm awake! I have a new knee. I'm in agony but I'm so happy. I've suffered with arthritis for years and now that is gone! ! ! Can't wait to start my recovery! Send kisses. (and Morphine! )". Nick initially gained stardom with his collaborations on the comedy series Spaced with actor Simon Pegg and director Edgar Wright. They went on to achieve critical acclaim with 2004's Shaun of the Dead, followed by further success with Hot Fuzz and The World's End, forming the Cornetto Trilogy. Nick has since appeared in popular films like Fighting with My Family and has recently been cast as Hagrid in next year's upcoming Harry Potter series.
