Canada Deal News - Oct 18 2025 (AM Edition)
If you’re prepping for a raise or exit, now’s the time to sharpen your numbers and narrative—timing and structure can mean the difference between a lifeline and a premium.
🇨🇦 National Deal Watch
1. Finlay Minerals Raises $1.7M at $0.15/Share
Finlay Minerals (TSXV: FYL) closed a $1.6M private placement, splitting flow-through units at $0.15 and non-flow-through at $0.12. Source.
Valuation Signal: $0.15/share sets a live benchmark for early-stage resource companies leveraging flow-through tax incentives.
Structure Insight: Flow-through units command a premium—if your sector offers similar incentives, structure your raise to capture it.
Action: Prep your capital stack to maximize pricing power if you qualify for government-backed investor incentives.
🍁 Ontario & Québec Investments
Geothermal Adoption Surges in Toronto
Geothermal now powers nearly 30% of new Toronto homes, up from <1%—a demand signal for cleantech, HVAC, and construction-adjacent founders. Source.
Valuation Angle: Steep adoption curves attract buyers and investors—recurring revenue and defensible contracts are the story.
Action: If you’re in the green-building supply chain, prep your numbers and narrative now.
Ontario Wage Recovery Crisis
Nearly $200M in unpaid wages over the past decade—compliance risk is rising. Source.
Valuation Impact: Buyers will scrutinize payroll and HR—compliance gaps can drag down multiples or add deal friction.
Action: Clean up wage and HR practices before going to market.
First National Financial Acquired for $48/Share
Birch Hill and Brookfield to acquire First National Financial (TSX: FN) at $48/share, all-cash. Source.
Valuation Benchmark: Clear price tag for a major Canadian lender; all-cash signals buyer conviction.
Action: If you’re in lending or financial services, benchmark your margin and customer stickiness to this comp.
🌲 Western Canada Watch
1. Clearview Resources Sale Approved
Clearview Resources is being acquired by a public oil & gas company—court-approved, full change of control. Source.
Valuation Signal: Public buyers are still active; court process highlights the need for clean governance and records.
Action: Prep your books and governance early—discipline drives both value and speed.
2. Vancouver’s $411M Land for Rental Housing
Vancouver may create a corporation to develop 4,000+ rental units on city land assessed at $411M. Source.
Valuation Anchor: Sets a floor for urban land values—private owners should benchmark and consider hold/sell/develop options.
3. U.S. Truck Tariff Carveout for Canada
New 25% U.S. truck tariff exempts vehicles under the Canada-U.S.-Mexico Agreement. Source.
Competitive Edge: Protects cross-border deal value for Canadian truck makers—stress-test your customer mix and supply chain.
🌊 Surf, Turf and Arctic
1. $82.3M Federal Infrastructure Funding to Manitoba
Canada commits $82.3M to Manitoba for transit, water, roads, and bridges—137 recipients, funds flowing this year. Source.
Valuation Impact: Direct, stable capital means stronger project pipelines and cash flow visibility for construction and supply chain operators—expect higher multiples if you can show backlog growth.
Action: Position to win a share of new funding—partnerships, certifications, or M&A may be needed.