GFL Environmental (GFL.TO) is planning to launch a private senior notes offering of US$750 million, the company said.
The notes, due 2031, will be issued by a U.S. subsidiary and guaranteed by GFL.
Proceeds will be used to pay down credit facility debt, in order to help fund part of of the cash component of GFL's acquisition of Secure Waste Infrastructure (SES.TO), the company said.
Full Circle Lithium (FCLI.V) on Friday said it is seeking C$5 million from a non-brokered private placement of share units.The company will place up to 12.5-million units priced at $0.40 per unit and made up of a share and one half of an 18-month warrant to buy a share for C$0.70The company said proceeds from the offering will be used to support commercial growth initiatives, including expanding production capacity, increasing inventory, strengthening its supply chain, supporting new retail and distribution partnerships, and advancing the commercialization of proprietary technologies.The offering is expected to close on or about June 30, 2026.
The Toronto Stock Exchange dropped on Friday as investors weighed fresh economic data pointing to resilient consumer spending and an improving housing market, while lower gold prices dampened sentiment.The S&P/TSX Composite Index closed down 101.92 points, or 0.3%, to 34,857.34, as losses in battery metals, health care and utilities stocks outweighed gains in the energy, industrials and technology sectors.Energy led gainers, up 0.67%, with Industrials and Information and Technology, up 0.21% and 0.31%, respectively. Battery Metals Index led decliners, down 2.69%, with Health Care, down 0.70%, Utilities, down 0.41%, Telecom, down 0.24%, Base Metals, down 0.21%, and Financial, down 0.05%.In commodities, gold prices fell on Friday even as the dollar retreated from a 13-month high reached after the Federal Reserve indicated it may raise interest rates to curb rising inflation. Gold for July delivery was last seen down 1.7% to US$4,172.90 per ounce.Meanwhile, oil prices edged higher on Friday as the postponement of U.S.-Iran talks and renewed hostilities between Israel and Hezbollah in Lebanon raised concerns about stability in the Middle East and the durability of a recently reached ceasefire. West Texas Intermediate crude oil for July delivery was last seen up 1.2% to US$77.54 per barrel, while August Brent oil was up 0.9% to US$80.57.On the economic front, fresh data showed Canadian consumer spending remained resilient in April and appeared to strengthen further in May. Canada's retail sales rose 0.5% month over month to $73.0 billion in April, in line with expectations, while preliminary data for May indicates a strengthening of consumer spending amid a surge in gasoline prices, according to the country's statistical agency.April's sales were up in five of nine subsectors, led by increases at gasoline stations and fuel vendors, noted Statistics Canada in a statement. The April retail sales increase was similar to the 0.6% month-over-month consensus gain figure provided by MUFG in a note earlier Friday. Core retail sales, which exclude gasoline stations and fuel vendors and motor vehicle and parts dealers, were down 0.7% month over month in April. StatsCan also provided an advance estimate of retail sales, which suggests that sales increased 1.0% month over month in May.Retail sales surged in six provinces in April. The largest provincial increase in dollar terms was observed in Ontario (+0.5%), boosted by higher sales at motor vehicle and parts dealers.On Friday's retail sales data, CIBC Economics said rising fuel costs are weighing on Canadian household spending, with higher gasoline prices eroding real consumption through the spring.Overall, consumer spending appears to have stalled in Q2 after a strong start to the year, with elevated pump prices squeezing discretionary demand, according to CIBC. Still, the recent pullback in fuel prices and additional government support for households are likely to provide a cushion for spending later in the year, pointed out Andrew Grantham at CIBC.Canada's housing resale market is showing signs of recovery, with recent gains largely fueled by a resurgence in activity in the province of Ontario, the country's largest real estate market, said National Bank of Canada Capital Markets in a note. Home sales in Canada jumped by 5.5% from April to May, the second rise in a row following five months of decline, wrote the bank.This "robust" advance in sales was driven by increases in eight of the 10 provinces. Ontario, which saw an 8.8% month-over-month climb in sales, contributed the bulk of the national improvement, stated National Bank. According to market data, 71% of the increase in home sales recorded between March and May originated in Ontario.Besides, in a bid to boost the economy, Canada on Friday imposed a temporary 10% tariff on imports of canned vegetables, excluding shipments from the United States, according to a Reuters report. The measure is seen as a move aimed at supporting domestic producers facing increased competitive pressures.The tax takes effect immediately and will remain in place for up to 200 days. Imports from Mexico, Israel, Chile and certain developing countries are exempt under Canada's existing trade obligations, the Finance Department said.
Imperial Metals (III.TO) on Friday said the Province of British Columbia granted "key authorizations" approving the transition of its 30%-owned Red Chris mine from open pit operations to a block cave mine.The approvals effectively permit an extension of mine life into the mid-2040s, said the company.Newmont (NEM), the mine's operator, is completing a definitive feasibility study and a detailed cost estimate, added Imperial."With the authorizations granted by the Province and the support of the Tahltan Nation, the stage has been set for the development of Red Chris into a Block Cave mine," said Imperial President Brian Kynoch. "These approvals are a critical step in advancing a final investment decision by the joint venture partnership expected later this year. That keystone decision will unlock the potential for Red Chris to become a significant, multigenerational mine."The company's shares were last seen up C$0.19 to C$7.12 on the Toronto Stock Exchange.Price: $7.12, Change: $+0.19, Percent Change: +2.74%