Canada Deal News - Oct 17 2025
Deal momentum is building in mining, SaaS, and digital assets—are you ready to defend your value if buyers or lenders come calling?
🇨🇦 National Deal Watch
Mining’s $3.6B Equity Surge: Window Reopens for Capital and Exits
Canadian miners have raised $3.6B in equity since September, breaking a multi-year financing drought. Gold and silver operators are leading, thanks to strong commodity prices.
Valuation Signal: Buyer and investor appetite is back for resource companies—if you’re in mining or adjacent sectors, this is your comp. Liquidity is flowing, and multiples are likely firming.
Owner Move: If you’ve been waiting to raise, recap, or test the market, now’s the time to prep. But act fast—commodity cycles turn quickly.
XORTX Therapeutics acquires a late-stage renal anti-fibrotic program from Vectus Biosystems.
Valuation/Deal Signal: Even without a disclosed price, this is a classic “pipeline” acquisition—buyers are still paying for de-risked clinical assets.
Owner Move: Biotech and pharma founders, keep your data room ready. Strategic buyers are active for late-stage or IP-rich assets.
Bank stocks slide globally as U.S. credit worries resurface.
Valuation Signal: If you’re in financial services or rely on bank lending, expect tighter credit and more scrutiny on margins and customer concentration.
Owner Move: Stress-test your numbers now—resilient cash flow and a diversified customer base will help defend your valuation if lenders or buyers get cautious.
Other Notables:
- The Raymond James/GreensLedge deal signals ongoing appetite for specialty finance platforms, though no price was disclosed. Source
Founder’s Question:
Are you ready to move quickly if your sector’s window opens—or closes? Early prep and a clear margin story are still your best levers for defending value.
🍁 Ontario & Québec Investments
Federal ‘Buy Canadian’ sentiment could shift media valuations.
83% of Canadians want Ottawa to direct more ad spend to Canadian-owned media. If policy follows, expect firmer multiples for domestic media and adtech—especially those with scale and government-facing sales.
SourceToronto Waterfront pivots from tech to urban forest.
The Quayside site’s shift from Sidewalk Labs’ tech vision to a “community forest” signals changing buyer priorities in urban development. Real estate and innovation founders: be ready for value drivers to shift with public sentiment and city planning.
Source
Bottom line:
No fresh deal comps this morning, but if your business is exposed to government spend or regulatory change, ask: Would a policy shift or city planning pivot make my company more attractive—or force a rethink of my growth story?
🌲 Western Canada Watch
Clearview Resources: Court-Approved Sale, Valuation Still Under Wraps
Clearview Resources’ sale to a public oil & gas company has court approval, clearing the path for a full-company exit. Source.
Valuation Signal: No price or multiple yet, but this is a live example of a clean, cash-heavy exit in energy. Once the buyer files financials, expect benchmarks to emerge.
Owner Move: If you’re considering a sale, start prepping your financials and legal structure now. A clean cap table and strong margins speed up deals—even in choppy markets.
Question: How would your numbers and ownership structure stand up if a public buyer wanted to move fast?
Other Headlines:
Alberta’s deficit could rise if oil drops below $74/barrel—potential headwind for energy asset valuations. Source
Alberta teachers’ strike flagged as a business strain—labour disruptions can impact deal timing and value. Source
🌊 Surf, Turf and Arctic
Mining’s $4.4B Comeback: Capital Flows Return to the North
Canadian mining companies have raised $4.4B since September, ending years of tight capital. Source
Valuation Signal: Multiples are likely firmer for mining operators—now’s the time to revisit expansion, M&A, or exits.
Owner Move: If you’re in mining or adjacent sectors, prep your numbers and narrative. If you’re in another asset-heavy or export-driven business, watch for capital market momentum to spill over.
Other Headlines:
No other disclosed deal values or buyer appetite this week. If you’re tracking policy or infrastructure shifts, stay alert—these often precede capital flows, but no direct valuation signals today.
Owner Question:
If capital markets opened for your sector tomorrow, would your financials and growth plan stand up to buyer or lender scrutiny?
🌐 Cross-Border Connections
Deel’s $17.3B Valuation: The New SaaS Benchmark
Deel raised US$300M at a US$17.3B valuation, led by Ribbit Capital, Andreessen Horowitz, and Coatue. Deel crossed US$100M in monthly revenue and is targeting acquisitions and AI. Source
Valuation Signal: Over 14x annualized revenue—this is what global SaaS with sticky, recurring revenue and international reach can command.
Owner Move: Canadian SaaS and fintech founders: If you want premium multiples, focus on recurring revenue, global scale, and margin resilience. Deel’s playbook—recurring revenue, global TAM, and AI—is the new bar.
Takeaway: Are you building for scale and resilience, or are you still too regional to attract this kind of multiple?
Other Headlines:
Meta’s $30B Louisiana data center financing is a scale signal for digital infrastructure, but lacks deal terms for benchmarking. | Source
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