February 24, 2024

The Queens County Citizen

Complete Canadian News World

Cell raised $8 million

Cell raised $8 million

Each week, we provide an overview of insider trading, investing in local businesses, and news from publicly traded companies.

The company will continue to grow internationally

Alexander McLean

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Alexander McLean

Montreal startup Alvol has received an $8.1 million investment from Toronto firm Round13 Capital. Founded in 2013 by Alexandre McLean, Alvol helps building managers install hives and bee habitats. The company is already present in 40 cities in six countries.

Millions of share buybacks

The Canadian national Quebec company invested $377 million in its biggest dollar buyback of its own shares in October. It was followed by Alimentation Couche-Tard ($315 million), Metro ($57 million) and Power Corporation ($20.5 million). Federal Finance Minister Chrystia Freeland announced this week that she would introduce a 2% tax on share buybacks in 2024, a move that would particularly affect the hydrocarbon sector. The goal? “Big companies should ensure that they pay their fair share. It encourages them to reinvest their profits back into their workers and into Canada,” said Ms. Freeland.

Hopper raised another $128 million

Hopper announced in an English-only announcement this week that it had received US$96 million (C$128 million) from Capital One. American Bank had already made a similar investment in Hopper last year. Founded in 2007 by Frédéric Lalonde, the company primarily offers an application for booking flight tickets.

$515,000 profit for CN executive

Canadian National’s chief financial officer, Ghislaine Houle, made a profit of more than $515,000 last week by exercising options to buy shares in the Montreal rail carrier. CN stock is up more than 5% since the start of the year.

He buys Dorel

Dorrell’s vice-president of sales and marketing, Jeffrey Segel, bought about $245,000 worth of shares in the Montreal manufacturer this week. Dorrell stock is down nearly 30% in the past 26 weeks. Mr. Segal is one of the founders of Dorel, which manufactures children’s products (Casco, Safety 1st, Maxi-Cosi brands) and furniture.

Alain Bedard (still) exercise options

TFI International’s big boss, Alain Bedard, made more than $7.3 million last week, exercising options on the trucking company. Since the beginning of the year, Mr. The profits Bédard cashed in this way exceeded $25 million.

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