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Canadian VC funding rose for the third consecutive year

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Canadian VC-backed companies raised $4.1B (all figures in USD) over 469 deals in 2019. This record funding amount also marked the third year of increased VC funding. While funding was up 16% compared to the previous year, deal activity was down 11%, according to the MoneyTree™ Canada report from PwC Canada and CB Insights.

“Canadian venture-backed companies saw another robust year of record funding, driven by a strong second-half to close off the year. While total deal count did decline, median-deal size has risen by 13%, indicating a healthy and scaling ecosystem. Canada has stood out amongst its global peers as investors continue to recognize the value of Canadian innovation,” said Sabrina Fitzgerald, National Tech Sector Leader, PwC Canada.

“Canadian venture capital investment increased for the third year in a row as Toronto and Vancouver hit record funding highs in 2019,” stated Anand Sanwal, co-founder and CEO of CB Insights. “Seed- and early-stage rounds made up the majority of deals and investments in Canadian AI, fintech, and cybersecurity companies continue to grow. 2020 is poised to be another big year for Canada’s tech ecosystem and as the early stage bets mature, we expect many investors in the US will start looking north and paying more attention to the Canadian tech ecosystem.”

As the top Canadian market, Toronto funding surpassed $1.3B for the second year in a row. The deal count of 175 was only 5 below the number of deals in 2018.

Vancouver hit a six-year high for funding as Vancouver-based startups raised $924M in 2019, more than double investment levels seen in 2018. While deal activity fell to 72 deals compared to 109 in 2018, deal activity remains above pre-2018 levels as larger deal sizes drive gains in funding.

Montreal funding and deals remain at healthy levels — after a strong H2’19, 2019 total funding to Montréal-based companies was $931M, only $11M below 2018 levels. 2019 investment was still above annual funding levels seen before 2018, an exceptionally strong year.

Waterloo and Calgary rounded out the top markets as Waterloo-based companies raised $139M across 25 deals and Calgary-based companies raised $132M across 22 deals

Key 2019 highlights:

  • In 2019, seed- and early-stage rounds continued to make up the majority of investments.

  • VC-backed Canadian AI companies hit record funding and deal highs. Funding increased 49% in 2019, to $658M. Deal activity also rose steadily, with a high of 57 deals in 2019.

  • VC-backed Canadian fintech companies also hit record funding and deal highs. Funding to Canadian fintech companies more than doubled in 2019, to $776M, up 104% from 2018. Deal activity reached a new high at 59 deals, an 11% increase YoY.

  • Funding to Canadian cybersecurity companies also reached a new high, with $398M invested across 19 deals. Accompanying the funding jump, deal activity also picked up in 2019, climbing to 19 deals.

  • Though funding to VC-backed Canadian clean energy tech companies fell 33%, the number of deals rose 50% YoY, reflecting increased investor interest in the clean energy space.

  • Canadian digital health companies saw a slight downtick in funding and deal activity, with dollars invested falling 26% YoY and deal count down 14% as $135M was raised across 31 deals.

  • The most active investors in Canadian companies were BDC (includes all venture capital and growth/transition capital arms), Real Ventures, SOSV and Panache Ventures tied for third most active, Investissement Quebec follows, and MaRS Investment Accelerator Fund, Inovia Capital and Fonds de Solidarite FTQ tied for sixth

 

SOURCE PwC (PricewaterhouseCoopers)

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FXCess CFD Broker Now Empowers Partners with up to $5,000 Monthly Earning Opportunity via Referrals

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HAMILTON, Bermuda, Dec. 23, 2024 /PRNewswire/ — FXCess CFD broker, a leading brand in the trading landscape, has introduced a new opportunity for its partners. The IB Reward program is a recently launched initiative that pays participants up to $5,000 per month for referring active traders. Unlike other income opportunities, this program involves zero risk, which makes it a perfect option for partners who want to maximize their financial potential.

“We are genuinely excited to bring this opportunity to our partners. The IB Reward Program is designed with simplicity and high returns in mind,” stated Thomas Pavlatos, the spokesperson for FXCess. “Participants will be able to earn substantial monthly rewards by referring new traders to our platform while enjoying the thrill of a risk-free earning process. This showcases our efforts to help our clients achieve consistent financial success.”

A Structure That Rewards Effort and Success

The FXCess CFD broker offers a Reward Program that is structured into five unique tiers. Starting at the Bronze level, partners can earn $450 if their network meets a net deposit of $10,000 and 100 traded lots in a month. Rewards grow progressively on Silver, Gold, and Platinum tiers, and reach the Master level with a maximum of $5,000 earnings for $150,000 net deposits and 1,250 traded lots. The eligibility is checked at the end of every qualifying month to make sure the participants get their due rewards for fluffing the criteria.

“Our Reward Program is more than a simple referral initiative. It is a reflection of our commitment to providing high-value benefits that align with the needs of our partners,” Pavlatos added. “With no risk of loss and the potential to earn up to $5,000 every month, this program sets a new standard in rewards. Moving forward, we remain dedicated to introducing further innovative programs for all of our valued partners.”

About FXCess

FXCess CFD broker is a trusted name for traders worldwide. The company offers over 300 trading instruments, from forex pairs to futures, for both beginners and seasoned professionals. Moreover, they provide competitive trade conditions, multiple account options, and solid customer support so that every client is served with the best services. Supported by advanced platforms like MT4 and PMAM, FXCess CFD broker delivers trading excellence with a focus on transparency and trust.

FXCess is a trade name of Notesco Int Limited; a company incorporated in Anguilla with registration number A000001800 and registered address The Valley, AI2640, Cosely Drive, 1338, AI.

All trading involves risk. It is possible to lose all your capital.

https://www.fxcess.com/

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Smartkem Closes $7.65 Million Offering

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MANCHESTER, England, Dec. 23, 2024 /PRNewswire/ — Smartkem (Nasdaq: SMTK), which is seeking to change the world of electronics using its disruptive organic thin-film transistors (OTFTs), announced it has completed its previously announced concurrent public and private offerings of its securities, including shares of its common stock and common stock equivalents, for an aggregate total gross proceeds of $7.65 million.

Smartkem issued 1,449,997 registered shares of common stock and unregistered Class D warrants to purchase up to 1,449,997 shares of common stock to investors in concurrent public and private offerings at a price of $3.00 per share and related Class D warrant. Each investor received one Class D warrant for each share purchased in the public offering.

Pursuant to the separate concurrent private placement, the Company sold to certain institutional investors, including existing investors in the Company, 169,784 unregistered shares of common stock, unregistered pre-funded warrants to purchase up to 930,215 shares of common stock and unregistered Class D warrants to purchase up to 1,099,999 shares of common stock at a price of $3.00 per share and related Class D warrant and a price of $2.9999 per pre-funded warrant and related Class D warrant.  Each investor received one Class D warrant for each share of common stock or pre- funded warrant purchased in the offering.

The Class D warrants are immediately exercisable at an exercise price of $3.00 per share and expire on December 31, 2025.  The pre-funded warrants are immediately exercisable at an exercise price of $0.0001 per share and may be exercised at any time until all of the pre-funded warrants have been exercised in full.

The gross proceeds of the offerings described above were $7.65 million before deducting placement agent fees and other offering expenses payable by the Company. The Company intends to use the net proceeds of the offerings for working capital and general corporate purposes.

Craig-Hallum Capital Group LLC acted as the Company’s exclusive placement agent for the offerings.

In connection with the offerings described above, the Company has entered into a registration rights offering pursuant to which it has agreed to register the shares of common stock issued in the private placement, the shares of common stock issuable upon the exercise of the Class D warrants and the pre-funded warrants sold in the offerings and certain other securities for resale by the holders thereof no later than the earlier of (i) the 10th day after the filing of the Company’s annual report on Form 10-K for the year ended December 31, 2024 or (ii) April 25, 2025.

The sale of the registered shares of common stock was made pursuant to Smartkem’s effective shelf registration statement on Form S-3 (file no. 333- 281608), including a base prospectus, filed with the Securities and Exchange Commission (the “SEC”) and declared effective by the SEC on August 22, 2024 and a prospectus supplement dated December 18, 2024 filed with the SEC. Copies of the prospectus supplement and the accompanying base prospectus may be obtained from Craig-Hallum Capital Group LLC, Attention: Equity Capital Markets, 222 South Ninth Street, Suite 350, Minneapolis, MN 55402, by telephone at (612) 334-6300 or by email at [email protected]. Alternatively, copies of the prospectus supplement and the accompanying base prospectus may be obtained for free at the SEC’s EDGAR website at www.sec.gov.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any Smartkem securities.

About Smartkem

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Smartkem is seeking to reshape the world of electronics with its disruptive organic thin-film transistors (OTFTs) that have the potential to revolutionize the display industry.  Smartkem’s patented TRUFLEX® liquid semiconductor polymers can be used to make a new type of transistor that can be used in a number of display technologies, including next generation microLED displays. Smartkem’s organic inks enable low temperature printing processes that are compatible with existing manufacturing infrastructure to deliver low-cost displays that outperform existing technology.

Smartkem develops its materials at its research and development facility in Manchester, UK and provides prototyping services at the Centre for Process Innovation (CPI) at Sedgefield, UK. It has a field application office in Taiwan. The company has an extensive IP portfolio including 138 granted patents across 18 patent families, 16 pending patents and 40 codified trade secrets.

Forward-Looking Statements

All statements in this press release that are not historical are forward-looking statements, including, among other things, the expected use of proceeds received from the offerings. These statements are not historical facts but rather are based on Smartkem Inc.’s current expectations, estimates, and projections regarding its business, operations and other similar or related factors. Words such as “may,” “will,” “could,” “would,” “should,” “anticipate,” “predict,” “potential,” “continue,” “expect,” “intend,” “plan,” “project,” “believe,” “estimate,” and other similar or related expressions are used to identify these forward-looking statements, although not all forward-looking statements contain these words. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties, and assumptions that are difficult or impossible to predict and, in some cases, beyond the Company’s control. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described in the Company’s filings with the Securities and Exchange Commission. The Company undertakes no obligation to revise or update information in this release to reflect events or circumstances in the future, even if new information becomes available.

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Designing for the future: SM’s vision through an architect’s lens

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PASAY CITY, Philippines, Dec. 23, 2024 /PRNewswire/ — The SM Group, through its integrated property developer arm, SM Prime Holdings, Inc., is setting a benchmark in sustainable and disaster-resilient design. Embracing innovation, the company integrates environmental considerations and community well-being into its projects, reflecting a commitment to long-term sustainability. 

The SM group’s foresight to incorporate best building practices continues with the next generation, as Jessica Sy, Vice President and Head of Design, Innovation, and Strategy of SM Prime and its residential arm SM Development Corporation (SMDC) emphasizes respecting the land through the creation of green buildings.

“We want to make sure that when we develop a building, it’s going to last for a long time,” said Ms. Sy. “We’ve seen that what’s good for our communities is actually good for our company because addressing their needs also strengthens our connection with them as our customers.”

Drawing from lessons on her first year in studying architecture, Ms. Sy noted the role of water in any development. It can be both beautiful—a source of life or unpredictable in nature. 

“As architects, this was one of the first few things we were taught,” Ms. Sy added. “Water is life-giving but it can also change everything. Floods in properties could heavily impact and uproot the lives of many families.” 

Field Residences is an example of SM’s commitment in meeting the highest standards of disaster resilience in its development. 

A new rainwater detention tank was completed in September this year after SMDC found that water levels in Field Residences had risen over the years. It is designed to handle extreme rainfall similar to those during Typhoon Ondoy (Ketsana), which brought 455 millimeters of rain in 24 hours.

How architecture can also build values 

SMDC also promotes local identity in its projects by specifically choosing native plants that are more well-suited to the area. 

“We try to reduce the types of plants that don’t benefit the local environment nor enliven its biodiversity,” she said. “What we do is to identify plants that can prosper here such as the endemic katmon [Dillenia philippinensis] tree.” 

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SMDC initiated to have future nurseries of these plants in various developments.  

“The decisions that we have today are going to impact the long-term future,” she added. “With sustainability at the forefront of our conversations nowadays, we see that that’s part of the legacy that we need to complete.”

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