Good morning. A funding announcement, a property plan and a closing leave businesses in different places. Today’s useful distinction is what has happened, what is intended and what still depends on the next step.
Axya announces C$17 million for manufacturing procurement
Axya announced a C$17 million Series A led by McRock Capital, with Yamaha Motor Ventures participating. Existing investors supporting the round included BDC’s Industrial Innovation Venture Fund and Real Ventures.
The Montréal company describes its platform as automating sourcing and purchasing for manufacturers. It plans to deepen its AI capabilities, grow its team and expand its market reach.
The practical focus is purchasing work inside manufacturing businesses. Owners considering such tools will want to connect the product pitch to a specific task their own team needs to perform.
Verdera closes Treeline, with consideration still to come
Verdera closed the sale of its entire Treeline interest in New Mexico to Americas Uranium on September 24. It received US$100,000 cash and shares assigned a C$200,000 deemed value. The shares carry a four-month-and-one-day statutory hold.
A further C$1.8 million in shares is issuable over 36 months. Verdera retains a 1.5% net proceeds royalty on uranium and a 1.5% net smelter returns royalty on other minerals.
The distinction matters: closing cash, shares received, future issuances and royalties are different forms of consideration. The deemed share value is not cash; future receipts are not guaranteed. There’s no useful single cash total to report here.
Two more developments to watch
Business premises to own. MONTONI and Claridge announced an industrial-condo partnership in Boisbriand, Quebec. The planned project has 20 units totalling more than 100,000 square feet, with completion scheduled for spring 2027. The units are intended for sale to businesses wanting to own their premises.
MAK puts UniUni on notice. TSX-listed MAK Acquisition said it delivered a breach notice to Uni Express, known as UniUni, under their proposed reverse-takeover purchase agreement. MAK says the agreement included a maximum cumulative pre-tax loss during the interim period, and it believes UniUni’s performance constitutes a material breach.
MAK says the notice triggers a 15-business-day cure period. It intends to terminate if the breach is not cured within that period. That is an issuer allegation and a conditional next step, not an announced termination or a proven breach. For anyone following the transaction, the cure process is the development to watch.
News cutoff: September 25, 2026, at 6:34 a.m. Toronto time. These developments were announced September 24.
For information and education, not advice for a specific transaction or a prediction of value.
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