Stock Market News for Investors: RBI Profits Rise as Tim Hortons and International Growth Boost Results – MoneySense

Under the transaction, Northern Superior shareholders will receive 0.0991 Iamgold shares and 19 cents in cash for each share of Northern Superior common stock. The offer implies an aggregate value of $2.05 per Northern Superior share, based on the closing price of Iamgold shares on the Toronto Stock Exchange on October 17. The transaction also includes a simultaneous distribution to Northern Superior shareholders of all shares in ONGold Resources Ltd. which are currently owned by Northern Superior.

Under a second deal, Iamgold Mines D’Or Orbec Inc. in a stock-and-cash deal worth $17.2 million, after deducting the 6.7 percent stake it already owns in the company. Orbec shareholders will receive 6.25 cents and 0.003466 of an Iamgold share for each Orbec share they own at a value of 12.5 cents per share.

Parkland reports increase in third-quarter profit from year-ago as company prepares to close Sunoco deal

Parkland Corp. reported third-quarter profit of $129 million, compared with $91 million a year ago, as it prepared to complete its takeover by US company Sunoco. The Calgary-based company said earnings for the quarter ended Sept. 30 were 73 cents per diluted share, compared with 52 cents per diluted share a year earlier.

On an adjusted basis, Parkland says it earned $1.02 per diluted share in the latest quarter, compared to an adjusted profit of 60 cents per diluted share in the same quarter last year.

Sales and operating revenues totaled $7.35 billion, compared to $7.13 billion a year earlier.

Parkland owns the Ultramar, Chevron and Pioneer gas station chains, as well as several other brands in 26 countries. It also operates a refinery in Burnaby, B.C., which supplies nearly a third of the region’s domestically supplied gasoline and jet fuel.

The company said it expects to close the deal with Sunoco on Friday, subject to the satisfaction or waiver of customary closing conditions.

Wealthsimple announces it will raise up to $750 million in new capital to accelerate growth

Wealthsimple Inc. says it is raising up to $750 million in capital in an effort to accelerate its growth.

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The equity raise will bring the valuation to $10 billion upon completion.

The equity round includes a primary offering of $550 million and a secondary offering of up to $200 million and is co-led by US-based Dragoneer Investment Group and Singaporean sovereign wealth fund GIC.

Wealthsimple says the round will also include the Canada Pension Plan Investment Board, a new investor, along with existing investors Power Corporation of Canada, IGM Financial Inc. and others. Michael Katchen, CEO of Wealthsimple, said in a press release that it was deliberate in choosing partners who were committed to the company’s long-term future.

Last week, Wealthsimple announced that its assets under management were $100 billion, roughly doubling from a year ago.

Cameco shares are rising after the company and Brookfield signed a nuclear reactor deal with the US

The shares of Cameco Corp. (TSX:CCO) rose more than 20 percent after the company and Brookfield Asset Management Ltd. (TSX:BAM) announced a partnership agreement with the US government to help build nuclear reactors in the United States.

Under the deal, the US government will arrange financing and facilitate licensing and approvals for at least $80 billion of new Westinghouse nuclear reactors in the US. Brookfield and Cameco acquired Westinghouse in November 2023.

“We expect the U.S. new construction commitments will strengthen broader confidence in nuclear energy’s sustainable growth profile and support increased demand for Westinghouse and Cameco’s products, services and technologies,” Cameco CEO Tim Gitzel said in a statement. “This new partnership highlights the role that Westinghouse reactor technologies, based on fully designed, licensed and operating reactors, are expected to play in the planned expansion of nuclear capacity and the diversification of global nuclear supply chains.”

Shares of Cameco rose C$25.36 to C$146.62 in trading on the Toronto Stock Exchange, while Class A shares of Brookfield Asset Management rose C$1.50 to C$77.91.