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Cision Canada
11 hours ago
- Business
- Cision Canada
Keyera Announces Closing of $2.07 Billion Bought-Deal Offering of Subscription Receipts
CALGARY, AB, June 20, 2025 /CNW/ - Keyera Corp ("Keyera" or the "Company") (TSX: KEY) today announced that it has completed its previously announced offering (the "Offering") of subscription receipts ("Subscription Receipts"). Pursuant to the Offering, the Company issued 52,874,700 Subscription Receipts, including 6,896,700 Subscription Receipts issued pursuant to the exercise in full by the underwriters of their over-allotment option. The Subscription Receipts were issued at a price of $39.15 per Subscription Receipt, for total gross proceeds of approximately $2.07 billion. Each Subscription Receipt will entitle the holder thereof, without payment of any additional consideration or further action on the part of the holder, to receive one common share of Keyera ("Common Share") upon closing of the Acquisition (as defined below). In addition, while the Subscription Receipts remain outstanding, holders will be entitled to receive cash payments ("Dividend Equivalent Payments") per Subscription Receipt that are equal to dividends declared by Keyera on each Common Share. Such Dividend Equivalent Payments will have the same record date and payment date as the related Common Share dividends. The Subscription Receipts will begin trading on the Toronto Stock Exchange ("TSX") under the symbol "KEY.R" today. The net proceeds from the Offering will be held in escrow and are expected to be used to finance a portion of the purchase price of Keyera's previously announced acquisition of substantially all of Plains' Canadian natural gas liquids business and select U.S. assets (the "Acquisition"). The Acquisition is expected to close in the first quarter of 2026, subject to the satisfaction or waiver of customary closing conditions, including clearance under the Competition Act (Canada) and other applicable regulatory reviews. For further information regarding the Acquisition and the Subscription Receipts, including related risk factors, refer to the Company's prospectus supplement dated June 18, 2025 (the "Prospectus Supplement") to the base shelf prospectus of the Company dated December 12, 2023 (the "Base Shelf"). The Base Shelf and the Prospectus Supplement are accessible on SEDAR+ at The Subscription Receipts were offered through a syndicate of underwriters, led by RBC Capital Markets, together with CIBC Capital Markets, National Bank Financial Markets, Scotiabank and TD Securities as Joint Bookrunners. This news release does not constitute an offer to sell or the solicitation of an offer to buy the Subscription Receipts. The Subscription Receipts have not been approved or disapproved by any regulatory authority. About Keyera Corp. Keyera Corp. (TSX: KEY) operates an integrated Canadian-based energy infrastructure business with extensive interconnected assets and a depth of expertise in delivering energy solutions. Its predominantly fee-for-service based business consists of natural gas gathering and processing; natural gas liquids processing, transportation, storage and marketing; iso-octane production and sales; and an industry-leading condensate system in the Edmonton/Fort Saskatchewan area of Alberta. Keyera strives to provide high quality, value-added services to its customers across North America and is committed to conducting its business ethically, safely and in an environmentally and financially responsible manner. Additional Information For more information about Keyera Corp., please visit our website at or contact: Investor Inquiries Dan Cuthbertson, General Manager, Investor Relations Katie Shea, Senior Advisor, Investor Relations Email: [email protected] Telephone: 1-403-205-7670 Toll free: 1-888-699-4853 Media Inquiries Brandon Wood, Director, External Affairs Email: [email protected] Telephone: 1-855-797-0036 Forward-Looking Information Certain statements contained herein constitute "forward-looking information" within the meaning of applicable securities laws (collectively, "forward-looking statements"). Such forward-looking statements are intended to provide readers with information regarding Keyera, including the expected use of the net proceeds of the Offering, the listing of the Subscription Receipts on the TSX, anticipated entitlements associated with the Subscription Receipts including anticipated Dividend Equivalent Payments, the expected closing date of the Acquisition, Keyera's efforts to provide high-quality services to customers and Keyera's commitment to conducting its business ethically, safely and in an environmentally-friendly and financially-responsible manner. The forward-looking statements contained herein may not be appropriate for other purposes. These forward-looking statements relate to future events or Keyera's future performance. Such statements are predictions only and actual events or results may differ materially. Forward-looking statements are typically identified by words such as "expect", "may", "will", "should", "intend", "deliver", "subject", "commit" and similar expressions, including the negatives thereof. All statements other than statements of historical fact contained in this document are forward-looking statements. The forward-looking statements reflect management's current beliefs and assumptions with respect to such things as the completion of the Acquisition in a timely manner, including receipt of all necessary approvals, the success of Keyera's operations, general and industry economic trends remaining in line with management's current expectations, favorable commodity prices and market conditions, future operating costs and predictability in the governmental, regulatory, and legal environments in which Keyera operates. In some instances, forward-looking statements contained herein may be attributed to third-party sources. Management believes that its assumptions herein are reasonable and that the expectations reflected in the forward-looking statements contained herein are also reasonable based on the information available on the date such statements were made, and the process used to prepare the information. However, Keyera cannot assure readers that these expectations will prove to be correct. All forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, events, levels of activity and achievements to differ materially from those anticipated in the forward-looking statements. For information about the risk factors that could cause actual results to differ materially from forward-looking statements, as well as other assumptions used to develop the forward looking statements, please refer to Keyera's filings made with Canadian provincial securities commissions, including Keyera's 2024 Year-End Report dated February 13, 2025 and in Keyera's Annual Information Form, dated March 5, 2025 which can be viewed on SEDAR+ at and on Keyera's website at Further information about the factors affecting forward-looking statements and management's assumptions and analysis thereof, is available in filings made by Keyera with Canadian provincial securities commissions, which can be viewed on SEDAR+ at
Cision Canada
2 days ago
- Business
- Cision Canada
BOAT ROCKER AND BLUE ANT PROVIDE TRANSACTION UPDATE; BLUE ANT FINAL ORDER RECEIVED
TORONTO, June 18, 2025 /CNW/ - Boat Rocker Media Inc. (TSX: BRMI) (" Boat Rocker" or " BRMI") and Blue Ant Media Inc. (" Blue Ant") today announced the receipt by Blue Ant of the final order of the Ontario Superior Court of Justice (Commercial List) dated June 18, 2025 (the " Final Order") with respect to the previously-announced plan of arrangement pursuant to which Blue Ant will go public by way of a reverse take-over of BRMI (the " RTO"). Concurrently with the RTO, (i) Boat Rocker will sell its Boat Rocker Studios business to a privately owned company (" IDJCo") controlled by Boat Rocker's co-founders and co-Executive Chairmen, David Fortier and Ivan Schneeberg, and Boat Rocker's CEO, John Young, and (ii) Boat Rocker will sell its minority investment in a U.S. talent management business to Fairfax Financial Holdings Limited (collectively with the RTO, the " Transactions"). Each of the Transactions are cross-conditional. In addition to the Final Order received today, requisite Boat Rocker and Blue Ant shareholder approvals (see Boat Rocker Media Announces Transaction Shareholder Approval at Special Meeting of Shareholders), Competition Act approval, CRTC approval and Toronto Stock Exchange (" TSX") conditional approval have also been obtained. With all substantive regulatory and shareholder approvals in hand, the closing of the Transactions is anticipated to occur in July 2025. Completion of the Transactions remain subject to customary closing conditions. In connection with the Transactions, BRMI will be renamed "Blue Ant Media Corporation" (the " Resulting Issuer") and, subject to final approval of the TSX, the Resulting Issuer's subordinate voting shares will continue to be listed and trade on the TSX under a new ticker symbol "BAMI". Further details regarding the Transactions are set out in the management information circular of Boat Rocker dated May 9, 2025 (the " Circular"), the news release of Boat Rocker dated March 24, 2025, the arrangement agreement dated March 23, 2025 between Boat Rocker and Blue Ant, and the share purchase agreement dated March 23, 2025 between Boat Rocker and IDJCo, each of which are available under Boat Rocker's SEDAR+ profile at About Boat Rocker Media Inc. Boat Rocker (TSX: BRMI) is the home for creative visionaries. An independent, integrated global entertainment company, BRMI's purpose is to tell stories and build iconic brands across all genres and mediums. With offices around the world, BRMI's creative and commercial capabilities include Scripted, Unscripted, and Kids and Family television production, distribution, brand & franchise management, a world-class animation studio, and talent management through a minority stake in The Initial Group, a new company launched by TPG. A selection of BRMI's projects include: Invasion (Apple TV+), Palm Royale (Apple TV+), Video Nasty (BBC Northern Ireland, BBC Three, Virgin Media One, WDR), This Is the Tom Green Documentary (Prime Video), Orphan Black: Echoes (AMC), American Rust: Broken Justice (Prime Video), Beacon 23 (MGM+), Pretty Baby: Brooke Shields (Hulu), Downey's Dream Cars (Max), BS High (HBO), Orphan Black (BBC AMERICA, CTV Sci-Fi Channel), Billie Eilish: The World's a Little Blurry (Apple TV+), The Next Step (BBC, Corus, CBC), Daniel Spellbound (Netflix), and Dino Ranch (Disney+, Disney Junior, CBC). For more information, please visit About Blue Ant Media Inc. Blue Ant is an international production studio and rights business and channel operator. The company's studio creates and distributes a premium slate of programming, in all content genres, for streaming and broadcasting platforms around the world. Blue Ant also operates free streaming and pay TV channels under several media brands internationally, including Love Nature, Cottage Life, Smithsonian Channel Canada, BBC Earth Canada, HauntTV, Homeful, Total Crime, Declassified and Love Pets. Blue Ant is headquartered in Toronto, with operations in Los Angeles, New York, Singapore, London, Washington and Sydney. Cautionary Note – Forward Looking Statements Certain statements contained in this news release contain "forward-looking information" within the meaning of applicable securities laws. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might", "have potential" or "will" be taken, occur or be achieved) are not statements of historical fact and may be "forward-looking statements." Forward-looking information and statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to a variety of risks and uncertainties that could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. Forward-looking information and statements include, but are not limited to, information and statements regarding the Transactions, the timing and ability of Boat Rocker and Blue Ant to complete the Transactions (if at all), the timing and ability of each of Boat Rocker, Blue Ant and other parties to the Transactions to satisfy the conditions precedent to completing the Transactions (if at all) and the final approval for the Resulting Issuer subordinate voting shares to be listed and posted for trading on the TSX. Although Boat Rocker and Blue Ant believe that the expectations reflected in such forward-looking information and statements are reasonable, such information and statements involve risks and uncertainties, and undue reliance should not be placed on such information and statements. Material factors or assumptions that were applied in formulating the forward-looking information contained herein include, without limitation, the expectations and beliefs of Boat Rocker and Blue Ant, and their respective management and board of directors, as of the date hereof. Boat Rocker and Blue Ant caution that the foregoing list of material factors and assumptions is not exhaustive. Many of these assumptions are based on factors and events that are not within its control, and there is no assurance that they will prove correct. Consequently, there can be no assurance that the actual results or developments anticipated by Boat Rocker and Blue Ant will be realized or, even if substantially realized, that they will have the expected consequences for, or effects on, Boat Rocker and Blue Ant, their current respective shareholders, or the future results and performance of Boat Rocker (or the resulting issuer after the Transactions) or Blue Ant. For additional information with respect to these and other factors and assumptions underlying the forward-looking statements made in this news release concerning the Transactions, see the Circular available on SEDAR+ ( under Boat Rocker's issuer profile. Readers, therefore, should not place undue reliance on any such forward-looking statements. There can be no assurance that the Transactions will be completed or that they will be completed on the terms and conditions contemplated in this news release. The Transactions could be modified or terminated in accordance with their terms. Further, the forward-looking information and statements in this news release are based on beliefs and opinions of Boat Rocker and Blue Ant at the time the statements are made, and there should be no expectation that these forward-looking statements will be updated or supplemented as a result of new information, estimates or opinions, future events or results or otherwise, and Boat Rocker and Blue Ant disavow and disclaim any obligation to do so except as required by applicable law. Nothing contained herein shall be deemed to be a forecast, projection or estimate of the future financial performance of either Boat Rocker (or the resulting issuer after the Transactions) or Blue Ant. SOURCE Boat Rocker Media Inc.
Business Upturn
3 days ago
- Automotive
- Business Upturn
Mahindra & Mahindra shares jump 2% after company gets unconditional CCI nod for SML Isuzu acquisition
Shares of Mahindra & Mahindra (M&M) rose 2% after the company received unconditional approval from the Competition Commission of India (CCI) for its proposed acquisition of a controlling stake in SML Isuzu Limited. As of 9:42 AM, the shares were trading 1.91% higher at Rs 3,064.70. The acquisition involves purchasing a total 58.96% stake in SML Isuzu through two transactions—43.96% from promoter Sumitomo Corporation and 15% from public shareholder Isuzu Motors Ltd. Following the acquisition, M&M will launch an open offer to acquire up to 26% of the remaining equity from public shareholders at ₹1,554.60 per share, as per SEBI's takeover norms. The CCI clearance, communicated on June 17 under Section 31(1) of the Competition Act, 2002, removes a key regulatory hurdle for the deal. M&M is expected to move ahead with the share purchase and open offer process shortly. The acquisition is part of M&M's strategy to expand its presence in the commercial vehicle segment above 3.5 tonnes. Currently holding a 3% market share in this category, M&M aims to double its share to 6% with the completion of the transaction. The company further targets a market share of 10–12% by FY31 and 20% by FY36. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Time of India
3 days ago
- Automotive
- Time of India
M&M shares in focus after CCI clears 59% stake acquisition in SML Isuzu; open offer to follow
Mahindra & Mahindra (M&M) shares will be in focus on Wednesday after the utility vehicle major received approval from the Competition Commission of India (CCI) to acquire a controlling 58.96% stake in SML Isuzu . The acquisition will be carried out in two tranches: 43.96% from the promoter, Sumitomo Corporation, and 15% from the public shareholder, Isuzu Motors Ltd. Following the deal, M&M will launch an open offer to acquire up to 26% of SML Isuzu's equity from public shareholders at Rs 1,554.60 per share, in line with SEBI's takeover norms. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like O novo Chevrolet Tracker é simplesmente perfeito com esses preços! Smartfinancetips Saiba Mais Undo The CCI granted its unconditional approval on June 17, 2025, under Section 31(1) of the Competition Act, 2002—clearing a key regulatory hurdle. M&M is now expected to proceed with the share purchases and the open offer process. With this acquisition, M&M aims to strengthen its presence in the commercial vehicle segment above 3.5 tonnes. The company currently holds a 3% market share in this category, which it expects to double to 6% post-acquisition. M&M is targeting a market share of 10–12% by FY31 and 20% by FY36, the company said in a statement. Live Events SML Isuzu, which holds a 16% share in the ILCV bus segment, reported operating revenue of Rs 2,196 crore and EBITDA of Rs 179 crore in FY24. Also Read: 10 midcap stocks with more than 20 buy Calls: Analysts see up to 25% upside M&M shares target price According to Trendlyne, the average target price for M&M stock is Rs 3,562—an 18% upside from current levels. Among the 37 analysts tracking the stock, the consensus rating is 'Strong Buy'. Technically, M&M's Relative Strength Index (RSI) stands at 48.4, indicating neutral momentum. The MACD is at 26.7—above the center line but below the signal line. M&M shares have gained 11% over the past three months and are up 114% in the last two years. The company's current market capitalisation is Rs 3,74,028 crore. Also Read: Street favourites! Analysts see these 10 smallcap stocks rallying 20-80% ( Disclaimer : Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times
Cision Canada
3 days ago
- Business
- Cision Canada
BOAT ROCKER MEDIA ANNOUNCES TRANSACTION SHAREHOLDER APPROVAL AT SPECIAL MEETING OF SHAREHOLDERS
TORONTO, June 17, 2025 /CNW/ - Boat Rocker Media Inc. ("BRMI" or the "Company") (TSX: BRMI) is pleased to announce that, at the special meeting (the "Meeting") of the holders (the "Shareholders") of subordinate voting shares and multiple voting shares of the Company, the Shareholders of the Company voted in favour of the resolutions approving, among things, (i) the reverse take-over of BRMI by Blue Ant Media Inc. ("Blue Ant"), a privately owned company controlled by Michael MacMillan; (ii) the management buyout of Boat Rocker Studios by BRMI Co-Founders and Co-Executive Chairmen, David Fortier and Ivan Schneeberg, and BRMI CEO John Young; and (iii) the sale of the Company's interests in The Initial Group Global, LLC, a U.S. talent management business, to Fairfax Financial Holdings Limited (collectively, the "Transaction"), all as further described in the management information circular dated May 9, 2025 in respect of the Meeting (the "Circular"). Pursuant to the Transaction, BRMI will acquire all of the shares of Blue Ant in exchange for shares of BRMI on the basis of an exchange ratio of 1.25 shares (prior to the 10:1 share consolidation included in the share capital reorganization noted below and described in the Circular, and 0.125 shares on a post-consolidation basis) of BRMI for each share of Blue Ant (the "Exchange Ratio"). The Exchange Ratio implies a valuation of C$1.80 per BRMI share (pre-consolidation), representing a premium of approximately 125% to the March 21, 2025 closing price of BRMI's shares on the Toronto Stock Exchange ("TSX"), the last trading day prior to the announcement of the Transaction, and a premium of approximately 145.1% to the 30 trading day volume weighted average trading price per BRMI share on the TSX as at that date. The approval of the resolutions in respect of the Transaction were voted as follows: The completion of the Transaction is subject to certain conditions, including the approval of Blue Ant's lenders, the final order of the Ontario Superior Court of Justice (Commercial List), and other closing conditions customary in transactions of this nature. Requisite approval of the shareholders of Blue Ant, approval by the Canadian Radio-television and Telecommunications Commission, and the approval under the Competition Act (Canada) have been obtained. About Boat Rocker Media Inc. Boat Rocker (TSX: BRMI) is the home for creative visionaries. An independent, integrated global entertainment company, BRMI's purpose is to tell stories and build iconic brands across all genres and mediums. With offices around the world, BRMI's creative and commercial capabilities include Scripted, Unscripted, and Kids and Family television production, distribution, brand & franchise management, a world-class animation studio, and talent management through a minority stake in The Initial Group, a new company launched by TPG. A selection of BRMI's projects include: Invasion (Apple TV+), Palm Royale (Apple TV+), Video Nasty (BBC Northern Ireland, BBC Three, Virgin Media One, WDR), This Is the Tom Green Documentary (Prime Video), Orphan Black: Echoes (AMC), American Rust: Broken Justice (Prime Video), Beacon 23 (MGM+), Pretty Baby: Brooke Shields (Hulu), Downey's Dream Cars (Max), BS High (HBO), Orphan Black (BBC AMERICA, CTV Sci-Fi Channel), Billie Eilish: The World's a Little Blurry (Apple TV+), The Next Step (BBC, Corus, CBC), Daniel Spellbound (Netflix), and Dino Ranch (Disney+, Disney Junior, CBC). For more information, please visit Forward-Looking Information / Cautionary Statements Certain information contained in this news release may be forward-looking statements within the meaning of Canadian securities laws. Forward-looking statements are often, but not always, identified by the use of words such as "expect", "anticipate", "believe", "foresee", "could", "estimate", "goal", "intend", "plan", "seek", "will", "may", "would" and "should" and similar expressions or words suggesting future outcomes. These forward-looking statements reflect material factors and expectations and assumptions of the parties. These forward-looking statements include the assumptions: that the transaction is able to be completed on the timelines and on the terms currently anticipated; that all regulatory and other required approvals can be obtained on the timelines and in the manner currently anticipated; that the anticipated benefits of the transaction are able to be achieved; that the businesses of both BRMI and Blue Ant will continue to operate in a manner consistent with past practice; and that the parties' transition plans are effective. The parties' estimates, beliefs and assumptions are inherently subject to uncertainties and contingencies regarding future events and, as such, are subject to change. Risks and uncertainties not presently known to the parties or that they presently believe are not material could cause actual results or events to differ materially from those expressed in the forward-looking statements. Additional information on these and other factors that could affect events and results are included in the Circular and other documents and reports that will be filed by BRMI with applicable securities regulatory authorities and may be accessed through the SEDAR+ website ( Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect the parties' expectations only as of the date of this press release. The parties disclaim any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law. U.S. Securities Matters None of the securities to be issued pursuant to the Transaction have been or will be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws. The resulting issuer securities to be issued in the Transaction are anticipated to be issued in reliance upon available exemptions from such registration requirements pursuant to section 3(a)(10) of the U.S. Securities Act and applicable exemptions under state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities.
