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Exclusive: SRTX has a deal to raise roughly US$40M as it scrambles to stave off insolvency

Montreal textiles manufacturing company SRTX has raised roughly US$40 million from key investors in a deal that would see founder Katherine Homuth step down as CEO, The Logic has learned, as the company works to stave off an insolvency that some expect could otherwise come as soon as next month.










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The Logic •

Desjardins CEO eyes fresh acquisitions as trade war escalates

An all-out trade war with the U.S. isn’t deterring Desjardins from its acquisition spree. The financial services group is willing to take on additional tariff-related costs as it hunts for property and casualty insurance companies to beef up its portfolio, according to its chief executive.










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The Logic •

Businesses scramble as Trump's tariffs kick in

Instead of sending mineralized water filters directly to the homes of American customers, Delta, B.C.-based Santevia Water Systems will have them make a pit stop at a warehouse stateside.

The change might help some customers get their filters faster, but that’s not why the company is doing it. As U.S. President Donald Trump’s tariffs on Canadian and Mexican imports officially kick in, Santevia is moving to keep a lid on costs. Instead of placing a 25 per cent tariff on the retail price of the filter, the markup will be levied on its cost, because a U.S. business will serve as a middleman.
The Logic •

Canada's big banks aren't letting tariffs spoil the party

Canada’s big banks aren’t letting tariffs spoil the party.
Yes, the vibes are off. The Big Six banks (except for CIBC) put more aside for credit losses compared to this quarter last year. And TD is still being dragged down by its U.S. retail business.
But, as RBC's Dave McKay put it: “The world’s not going to collapse overnight."
The country's six largest banks all beat first-quarter analyst expectations this week, with chief executives assuring shareholders they are well-positioned to tackle uncertainty south of the border.
The Logic •

Exclusive: Shopify lays off team supporting Black, Indigenous and women entrepreneurs

TORONTO — Shopify has laid off the team responsible for its social impact initiatives, including programs to support Black, Indigenous, and women entrepreneurs, sources have told The Logic.

The layoffs, which took place in January, coincided with Shopify shutting down its Build Native, Build Black and social impact programs. Around a dozen people worked on the team, two sources said. The sources asked not to be named as they were not authorized to speak to the press.
The Logic •

A trade war would destroy the Big Mac

The Big Mac might be an American icon, but it wouldn’t exist without Canadian potash. 
More than 500 million of these hamburgers are sold in the U.S. each year, requiring huge quantities of wheat, corn, soy and other crops to feed the machine. Some of these ingredients make the Big Mac’s bun, while others feed the cattle that become the beef patties. And almost none of this would exist without Canadian potash fertilizers.
The Logic •

Exclusive: Humanoid robot startup Sanctuary AI is trying to raise more money

Vancouver-based startup Sanctuary AI is raising more money as it tries to develop humanoid robots powered by artificial intelligence, The Logic has learned.

In a Jan. 10 email to investors, chief financial officer Philip Smith wrote that the company was “undertaking a US$10 million convertible note offering in order to finance the company for fiscal 2025.” Sanctuary had found takers for 50 per cent of the offering, according to the email, and was asking existing shareholders to take the balance. The company hopes to close the offering by Feb. 28.
The Logic •

What happened when a small Canadian city collided with the alt-right

Alt-right conspiracy theories are creating chaos in the city of Pickering, Ont., as online and offline worlds collide—causing confusion for local residents and politicians.

On Dec. 30, the city’s mayor, Kevin Ashe, seemingly reached the end of his tether. In a remarkable video, complete with threatening music and fake film scratches that allegedly exposes mysterious figures targeting the city, Ashe announced that all council meetings would now be held online until further notice for security reasons.
The Logic •

The climate crisis is getting costly for Canada’s ski resorts

Skiers at Kelly Sinclair’s cross-country resort, Highlands Nordic, used to rely on natural snow to cover 30 kilometres of tree-speckled trails. Now they’re skiing in circles.
“We kind of feel like hamsters on a wheel, sometimes going around an 800 metre loop,” Sinclair said. But it’s all the resort can afford to make snow for, the 35-year old resort manager added
Warmer winters have reduced the number of days the resort in Duntroon, Ont.—15 minutes from the province’s largest ski town in Colling...
The Logic •

SRTX founder gets real: 'Sheertex is not profitable—not even close'

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