This brief covers announcements in the 48 hours ending at 6:31 a.m. Toronto time on September 21, 2026.
Ghost Taco maps its Atlantic expansion
Happy Belly reported a signed agreement to develop 25 franchised Ghost Taco locations across the four Atlantic provinces. It brings the brand’s stated total to 120 units under development agreements across seven provinces.
Management says David Wilson will lead the Atlantic rollout, with franchisee selection and real estate still on the to-do list.
Our read: a place in the development pipeline isn’t a table ready for customers. Those 120 units are commitments under agreements, not a tally of operating restaurants or earned revenue.
Happy Belly’s September 21 announcement
Makenita’s option comes with a calendar
Makenita reported an option agreement for the Cobequid–Chedabucto property in Nova Scotia, prospective for hydrogen. Regulatory approvals are still required.
The schedule calls for three million shares and 2.25 million three-year warrants within seven business days of signing, followed by further securities instalments at four and eight months. There’s also cash consideration and a first-year work obligation.
The owner’s takeaway is in the calendar: securities and work commitments belong alongside cash when assessing the bargain. The initial cash instalment cannot stand in for the whole acquisition cost, and the option isn’t a completed purchase.
Makenita’s September 21 announcement
Coelacanth’s subscription and compensation
Coelacanth plans a placement of 325,715 units to Jonathon Hanson, whose hiring as engineering vice-president was previously announced. Each unit includes a share and a warrant exercisable for 60 months after closing.
Separately, the company approved 800,000 stock options and 525,000 restricted share units for Hanson. The issuer describes the proposed subscription as a related-party transaction; regulatory and exchange approvals remain necessary.
Two columns help make sense of this announcement: a proposed paid subscription and compensation. Our interpretation: approving the awards doesn’t turn them into subscription proceeds or show that the financing has closed.
Coelacanth’s September 21 announcement
For information and education, not advice for a specific transaction or a prediction of value.
Make deal news part of your morning. Subscribe to Deal Flow Canada, and come back every weekday for fresh Canadian deal updates.