Canada Stocks-tsx Jumps On Summers Exit From Fed Race
The news comes days before a crucial Fed meeting, which investors expect will provide more clarity about U.S. monetary policy direction. “The assumption investors are making is that (Fed Vice Chair) Janet Yellen is a moderate in terms of monetary policy,” said Irwin Michael, portfolio manager at ABC Funds. “People are looking at that favorably, that we’ll get the same sort of policy we’ve had with Bernanke.” “She would provide continuity, and the market is factoring that in,” he added. The Toronto Stock Exchange’s S&P/TSX composite index closed up 93.48 points, or 0.73 percent, at 12,816.88, its biggest single day percent jump since Aug. 29. The benchmark Canadian index is up about 5 percent this quarter after a sluggish first-half performance. Investors taking a longer-term view of the Canadian market could reap some benefits by the end of the year, despite some short-term volatility, said Fred Ketchen, director of equity trading at ScotiaMcLeod. “My guess is cautious moves will still be made on the upside,” he said. Financials, the index’s most heavily weighted sector, added 0.9 percent. In the group, Royal Bank of Canada was up 0.9 percent at C$65.91, Toronto-Dominion Bank rose nearly 1 percent to C$90.79, and Canadian Imperial Bank of Commerce gained 0.8 percent to C$81.74. Aimia Inc, which runs the Aeroplan loyalty program, struck a deal with TD and CIBC under which TD will be the issuer of Aeroplan cards and buy half of CIBC’s existing Aeroplan portfolio, with CIBC retaining the rest.
Xylitol Canada Announces $3 Million Financing
(“Xylitol Canada”, or the “Company”) (TSX VENTURE:XYL) is pleased to announce today that it has completed a $3 million debt financing (the “Loan”) with Dundee Agricultural Corporation (“Dundee”). The Loan accrues interest at a rate of 1.0% per month. Subject to the approval of the TSX Venture Exchange (the “Exchange”) and any shareholder approval which may be required by the Exchange, the principal amount of the Loan outstanding from time to time or any portion thereof may, at the option of Dundee, be converted into common shares of the Company at the price of $0.24 per common share. Upon conversion of the principal amount of the Loan, any accrued and unpaid interest up to but excluding the date of conversion will be paid in cash, or at the option of Dundee, and subject to the approval of the Exchange, in common shares at a price per share equal to the greater of: (a) the last closing price of the common shares on the Exchange on the date of conversion, and (b) $0.10 per share. The net proceeds from the Loan will be used for purchasing inventory, product development, research and development, and for working capital purposes. “Major food manufacturers are looking at ways to incorporate natural sweeteners into their products due to the demands of health conscious consumers, and the natural sweetener market is as a result expanding more rapidly than all other sweetener markets. Having the support of Dundee as we press forward with our commercialization efforts is beneficial to the Company and our plans for the future,” stated Andrew Reid, CEO of Xylitol Canada. “We thank Dundee for their support.” About Xylitol Canada Inc. Xylitol Canada markets xylitol and xylitol based-products and is focused on becoming a major low-cost manufacturer of xylitol and related products, serving the global market from operations in North America. Xylitol Canada’s business strategy is to leverage novel proprietary technology and processes to become North America’s premier manufacturer of low cost, high quality xylitol from readily available environmentally-sustainable biomass. Xylitol is an all-natural sweetener which is marketed globally including Canada and the United States and is accepted by the American Food and Drug Administration, the World Health Organization and the American Dental Association. Xylitol contains 75% less carbohydrates and 40% less calories than sugar, has a myriad of oral health benefits including the prevention of tooth decay and is safe for diabetics.
Cody Canada announces The Departed lineup changes, new solo acoustic live album due this fall
No one will be standing in Seths place, Canada said in a news release. There is no need to try to replace one of the best guitar players ever. Canada also says that while the band is not planning to continue playing live the songs sung by James on their recent album Adventus, he and keyboardist Steve Littleton will handle all of the lead instrument parts. Following James departure, Canada says the bands live set will include more songs from the cataloge of his former band, Cross Canadian Ragweed. James will continue to perform at all dates leading up to his final show, including a show Saturday night at the Arbuckle Ballroom in Davis. After three years of great times and great music, I have decided to take a step down as a band member of the Departed. It has been an unbelievable ride and I am so grateful for the support and love along the way, James wrote on Facebook. I look forward to supporting these guys alongside you as they continue down the road. While his work with The Departed will continue moving full-steam ahead, Canad aalso has confirmed a late November release (exact date TBA) for a new solo acoustic album titled Some Old, Some New, Maybe A Cover Or Two, which was recorded live this summer at Third Coast Music in Port Aransas, Texas. As the title suggests, the acoustic album will feature songs from throughout Canadas career, including old Cross Canadian Ragweed favorites along with songs he wrote with The Departed. See a full track listing after the break. As they move forward, The Departed have pledged 100 percent support for James decision. Whatever path he chooses, weve got his back. And we know hell have ours, the band said in a statement. We will rock on as a four-piece playing old tunes, new tunes, our tunes, and other peoples tunes. Its what we do. Seth will be truly missed out here.