Business Nova Scotia

Swarmio Applies for Creditor Protection

Swarmio Applies for Creditor Protection

June 28, 2023 at 12:49 pm

Swarmio Media Holdings Inc sought creditor protection in the Ontario Superior Court of Justice last week. The Court agreed to some of its initial requests (it stayed proceedings until July 1, appointed a monitor, agreed to a debtor-in-possession or DIP loan) and scheduled a “comeback” hearing for June 30, atRead More

A Meta Moment

A Meta Moment

March 22, 2023 at 12:20 pm

Thanks to the spectator who alerted me to this latest development in the ongoing saga of Dartmouth-based Meta Materials, the “smart” materials company that earned Nova Scotia’s erstwhile venture capital fund Innovacorp a $100 million payday by going public with a valuation north of $1 billion. Meta Materials listed onRead More

Holding the Line?

Holding the Line?

November 16, 2022 at 12:34 pm

Genesee & Wyoming (G&W) Canada Inc, owner of the Cape Breton & Central Nova Railway (CBNS), is restructuring its Nova Scotia holdings. In September, G&W Canada established a wholly-owned subsidiary called the Nova Scotia & Eastern Railway (NSERL). On October 17, G&W Canada President Rick McLellan—who also serves as presidentRead...

Constructive Dismissal at Ocean Nutrition

Constructive Dismissal at Ocean Nutrition

March 23, 2022 at 2:21 pm

I get email notifications of “recent decisions” by Nova Scotia courts that I don’t always open but yesterday I did and got sucked into reading the March 18 decision in the case of Matthews v. Ocean Nutrition Canada Limited, which led me to the original decision in the case, handedRead More

An Innovacorp Case Study

An Innovacorp Case Study

December 8, 2021 at 11:49 am

I’m going to keep picking away at the list of companies in which Innovacorp has invested to find out what happened to each of them, but I thought this week I’d show you how unnecessarily difficult this can be in some cases. My example is the first company in theRead...

Innovacorp: Which Way Out?

Innovacorp: Which Way Out?

December 1, 2021 at 1:14 pm

This week, I thought I’d give myself a bit of a break, research-wise, by focusing on Innovacorp’s exits between 2011-2012 and 2020-2021. If you’re wondering why I keep choosing that timeframe, it’s basically, as I should have explained earlier, because Innovacorp did. The agency, which was founded in 1995, changedRead...

Innovacorp: Fun With Numbers

Innovacorp: Fun With Numbers

November 17, 2021 at 1:34 pm

Looking into Innovacorp’s “unicorn” investment earlier this year got me to wondering how many successful exits our provincial venture capital fund has managed over the years compared to the number and value of its investments, so I submitted an access-to-information request asking for a list of its investments since 2011.Read...

In Other Innovacorp News…

In Other Innovacorp News…

September 29, 2021 at 1:10 pm

Tim Bousquet of the Halifax Examiner has been making the point that the $104 million Innovacorp made on its META exit could be used to fund affordable housing in Nova Scotia. He even did the math: For the record, $104 million would pay for 80 apartments at $1,000/month rent forRead More

Revisiting the Unicorn

Revisiting the Unicorn

September 29, 2021 at 1:07 pm

This week, I’m going to continue my examination of Innovacorp’s “unicorn” investment, spurred, in part, by the Cape Breton Post’s take, which appeared in Monday’s print edition wrapped in a piece of puffery about Bob Pelley, Innovacorp’s regional manager in Cape Breton. The Post — like the CBC before itRead More

FOIPOP Findings: CME

FOIPOP Findings: CME

February 24, 2021 at 1:31 pm

This week, the FOIPOP findings are just going to be a jumping off point for a check-in with everybody’s favorite Northside shipyard — the one operated by Canadian Maritime Engineering on the property formerly known as Archibald’s Wharf. I’ve covered the controversial sale of that property in detail — thisRead More