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PE-backed Xplornet to acquire NetSet Communications

Xplornet Communications Inc has agreed to acquire the Internet access business of NetSet Communications, a Brandon, Manitoba telecommunications company. No financial terms were released for the deal, the largest in Xplornet’s history. Xplornet, a rural broadband service provider, said the deal will accelerate its expansion across Western Canada, add to its customer base, and support the launch of a mobile wireless service in Manitoba. Based in Woodstock, New Brunswick, Xplornet is backed by Catalyst InvestorsSandler Capital Management, Werklund Capital Corp and other investors.

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BDC Capital provides $2.2 mln to finance Fuller’s buy of ACR

BDC Capital has provided $2.2 million in senior debt and mezzanine financing to Fuller Industrial Corp, a Sudbury, Ontario-based maker and supplier of rubber-lined pipes, fittings and tanks for the mining, forestry and heavy industrial sectors. The funds raised will support Fuller’s acquisition of ACR Group Inc, a manufacturer of wear and impact resistant products. The deal will help Fuller expand into Western Canada and penetrate the oil and gas industry. Fuller was established in 2004 by CEO Jeff Fuller. BDC Capital invested in the company through its Growth and Transition Capital group, which earlier in 2017 received $1.8 billion in fresh funding.

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Drug developer Appili raises additional $3 mln in VC funding

Halifax anti-infective pharmaceuticals developer Appili Therapeutics Inc has raised about $3.1 million from a private placement offering. The financing, which brings total funds raised by Appili since its 2016 seed round to about $7.5 million, was backed by Canadian venture capital firm Innovacorp, as well as other new and existing investors. Appili said the offering’s proceeds will help finance operations and growth. They will also advance the company’s pipeline of anti-infectives and move its lead antibiotic, a taste-masked treatment for anaerobic infections, into the clinic. Founded in 2015, Appili is led by CEO Kevin Sullivan.

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Magaly Charbonneau joins iNovia Capital as principal

Canadian venture capital firm iNovia Capital has hired Magaly Charbonneau as a principal. Charbonneau, an entrepreneur and investor with about 25 years of experience, joins iNovia from Intel Corp, where she led business development strategy for True Key Worldwide and operations for PasswordBox, a password security platform she invested in and served as COO. (PasswordBox was bought by Intel in 2014.) Between 2009 and 2016, she was also a member of Anges Québec‘s angel investment network. Charbonneau will work with iNovia’s investment team and portfolio companies from the firm’s headquarters in Montréal.

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Thomvest gives Prometic access to $100 mln line of credit

Laval, Québec-based biopharmaceutical company Prometic Life Sciences Inc (TSX: PLI) has secured a $100 million (US$80 million) line of credit from an affiliate of Thomvest Asset Management, the investment vehicle of Canadian billionaire Peter Thomson. The company, which specializes in bioseparation and the development of plasma-derived and small-molecule therapeutics, said the facility’s proceeds will support it prior to the expected flow of revenues from sales of plasminogen and other monetization events. Led by President and CEO Pierre Laurin, ProMetic earlier this year raised funding from both Thomvest and California Capital Equity.

Parallel49’s Avison Young to buy WHR Property Consultants

Avison Young Inc has agreed to buy WHR Property Consultants LLP, a commercial property consultancy business based in Manchester, United Kingdom. No financial terms were released for the deal, which is expected to close within 30 days. The acquisition will bring Avison’s total offices in North America and Europe to 81, compared to 11 nine years ago. Avison, a Toronto-based provider of commercial real estate services, is a portfolio investment of Canadian private equity firm Parallel49 Equity. Between 2011 and 2015, it was backed by Parallel49’s predecessor, Tricor Pacific Capital.

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Ardenton Capital invests in Comtrad Strategic Sourcing

Canadian private equity firm Ardenton Capital Corp has invested in Comtrad Strategic Sourcing, a Toronto-based sourcing and logistics company. No financial terms were released for the deal, Ardenton’s fourth in Canada in the past twelve months. Established in 1977, Comtrad specializes in sourcing products from Asian suppliers to original equipment manufacturers and distributors with operations in North America. Comtrad President and CEO Jim Long said the partnership with Ardenton will help the company expand its product and service offerings.

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Round13 Capital invests in Bluerush’s $1.3 mln financing

Toronto digital solutions provider Bluerush Media Group Corp (TSX-V: BTV) has closed a private placement deal, generating proceeds of $1.3 million. Round13 Capital Founders Fund, an affiliate of Canadian venture capital firm Round13 Capital, invested $750,000. As a result, the fund acquired about 25 percent of issued and outstanding shares and is entitled to nominate a board member. Founded in 2004, Bluerush provides marketing and sales software that helps organizations engage with their customers. It will use the funds raised to ramp up sales and R&D activities that support the company’s development “toward a recurring revenue model.”

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Parallel49’s Avison Young to buy WHR Property Consultants

Avison Young Inc has agreed to buy WHR Property Consultants LLP, a commercial property consultancy business based in Manchester, United Kingdom. No financial terms were released for the deal, which is expected to close within 30 days. The acquisition will bring Avison’s total offices in North America and Europe to 81, compared to 11 nine years ago. Avison, a Toronto-based provider of commercial real estate services, is a portfolio investment of Canadian private equity firm Parallel49 Equity. Between 2011 and 2015, it was backed by Parallel49’s predecessor, Tricor Pacific Capital.

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Orion pledges to fund Revival Gold deals of $25 mln or more

Revival Gold Inc (TSX-V: RVG), a Toronto-based gold exploration and development company, has completed a private placement financing, raising about $9 million in gross proceeds. Orion Mine Finance Group, a U.S. mining private equity firm, invested in the deal. Additionally, Orion has agreed to become the company’s investment partner, providing debt, equity or metal-streaming funding for acquisition and development initiatives valued at US$25 million or greater. Revival holds interests in Idaho’s Beartrack Gold Project and Arnett Creek Gold Project and Utah’s Diamond Mountain Phosphate Project.

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Vertex gains listing with $85.8 mln deal, 32 Degrees invests

Vertex Resource Group Ltd, a Sherwood Park, Alberta-based provider of environmental and industrial services, has completed an $85.8 million qualifying transaction on the TSX Venture Exchange. The deal, which saw Vertex amalgamate with capital pool company Vier Capital Corp, allowed Vertex to begin trading on the exchange this week. Canadian private equity firm 32 Degrees Capital acquired about 19.41 percent of issued and outstanding shares as part of the qualifying transaction. Founded in 1976, Vertex provides a range of project services to oil and gas, utilities, telecommunications, forestry, agriculture and other industries.

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AdHawk raises $5.7 mln in Intel Capital-led Series A round

AdHawk Microsystems Inc, a maker of advanced micro-systems for human-computer interaction, has raised about $5.7 million (US$4.6 million) in a Series A financing. The round was led by Intel Capital, a U.S. venture capital firm, with participation from Canadian firm Brightspark Ventures. Founded in 2015, AdHawk has developed a camera-free eye-tracking system that enables precise, high-speed tracking in headsets and other wearable devices. Led by CEO Neil Sarkar, one of the Kitchener, Ontario-based startup’s co-founders, it plans to use the funds raised to commercialize its technology for consumer virtual reality-augmented reality devices.

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CPPIB joins $4 bln Series C funding of Meituan-Dianping

Meituan-Dianping, a Chinese service-focused e-commerce platform, has raised $4 billion in Series C financing. The round was led by China’s Tencent Holdings, with participation from the Priceline Group and a global syndicate of investors that includes Canada Pension Plan Investment Board. The deal values the company at $30 billion, Reuters reported. Founded in 2003, Meituan-Dianping connects more than 280 million users with roughly 5 million local merchants.

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Bonnefield Canadian Farmland IV raises additional $70 mln

Canadian private equity firm Bonnefield Financial has secured an additional $70 million commitment for its fourth farmland fund. The money came from a large Canadian pension plan and brings capital committed to Bonnefield Canadian Farmland IV to $130 million in total. Fund IV, which will continue raising capital, provides Canadian producers with sale-leaseback solutions to grow, reduce debt, and help transition their farm to the next generation, Bonnefield CEO Tom Eisenhauer said. Toronto-based Bonnefield, which now oversees more than $500 million in assets, has a coast-to-coast portfolio that reflects about 100,000 acres, worked by 70 farm families.

The Meituan logo is seen in this illustration photo October 19, 2017.   REUTERS/Thomas White/Illustration

CPPIB joins $4 bln Series C funding of Meituan-Dianping

Meituan-Dianping, a Chinese service-focused e-commerce platform, has raised US$4 billion in a Series C financing. The round was led by China’s Tencent Holdings, with participation from the Priceline Group and a global syndicate of investors that includes Canada Pension Plan Investment Board. The deal values the company at US$30 billion, Reuters reported. Founded in 2003, Meituan-Dianping connects more than 280 million users with roughly 5 million local merchants. It said it will use the funds raised to invest in core businesses and offerings and leverage artificial intelligence-based and analytics-driven technology.

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Tencent to invest $50 mln in storytelling platform Wattpad

Toronto storytelling app Wattpad will soon receive about $50 million (US$40 million) from an investment by China’s Tencent Holdings, according to a report by the Globe and Mail. The investment will form part of a new US$50 million financing of Wattpad, to be finalized in the weeks ahead, the report said. The round, which will be backed by a mix of Canadian and U.S. venture capital firms, is expected to value the company at about US$400 million. Founded in 2006 by CEO Allen Lau and CPO Ivan Yuen, Wattpad operates a social platform that creates direct connections between readers and writers. In 2014, it raised US$46 million in a Series C financing led by OMERS Ventures .

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Tangle Creek closes asset buy with help from Wells Fargo

Calgary light oil developer Tangle Creek Energy Ltd has acquired productive assets located primarily in the Waskahigan and Kaybob areas of Alberta for an undisclosed sum. The deal, which grows the company’s production to more than 8,000 barrels of oil equivalent per day, is “transformational,” CEO Glenn Gradeen said. The acquisition was financed mostly with equity provided by Wells Fargo Strategic Capital, the investment arm of Wells Fargo & Co. As a result, Wells Fargo joins Tangle Creek’s existing investors, led by ARC Financial and Camcor Partners. ARC and Camcor have backed the company since April 2011.

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OMERS Private Equity-backed Inmar buys Reach I influence

Inmar Inc, which earlier in 2017 was acquired by OMERS Private Equity, has bought Reach I influence, a Detroit, Michigan marketing analytics company. No financial terms were released. Inmar, a Winston-Salem, North Carolina operator of intelligent commerce networks, said the acquisition will provide it with additional resources to help independent retailers and emerging brands compete with large chains and e-commerce players. OMERS Private Equity acquired a majority stake in Inmar from U.S. private equity firm ABRY Partners, the company’s backer since 2014.