Halifax-based Clearwater Seafoods announced a billion-dollar deal Monday to sell the company to a partnership between Premium Brands of British Columbia and a coalition of Mi’kmaw First Nations.
It is “the single largest investment in the seafood industry by any Indigenous group in Canada,” said a news release jointly issued by the coalition and Clearwater.
The coalition will be led by the Membertou band in Cape Breton and Miawpukek in Newfoundland and Labrador.
Membertou Chief Terry Paul said the Mi’kmaq will hold Clearwater’s Canadian fishing licences within a fully Mi’kmaq-owned partnership.
“This deal is a transformational moment for all participating communities,” Paul told CBC News. “We will now have access to the offshore fishery from an ownership position.”
The Mi’kmaw coalition will put up $250 million for its share of the purchase and pay for it through a 30-year loan from the First Nations Finance Authority.
“I feel excited about it,” said Paul. “We’re a player now. In order to be in business, you first have to play the game.
“You have to play to win, and we won.”
North America’s shellfish leader
Clearwater is North America’s largest producer of shellfish and holds Canadian harvest licences for a variety of species including lobster, scallop, crab and clams.
It also has harvesting operations in the United Kingdom and South America and a worldwide sales operation.
The deal is being recommended by Clearwater directors and would see shareholders paid $8.25 a share. That’s a 15 per cent premium above the price last week and a 60 per cent premium compared to the price before Clearwater announced it was for sale in March.
The sale is expected to close in the first half of 2021.
“I am very pleased to recommend this transaction. It represents great value for shareholders, leverages the expertise within the company while advancing reconciliation in Canada,” Colin MacDonald, chair of the board of directors of Clearwater, said in a statement.
“I am confident that this transaction will enhance the culture of diversity and sustainable seafood excellence that exists at Clearwater.”
Other Mi’kmaw bands show interest
The agreement will see the Mi’kmaw coalition and Premium Brands create FNC Holdings to acquire Clearwater shares.
Several other Nova Scotia bands have confirmed their intention to join Membertou and Miawpukek, according to the announcement. They include Paqtnkek , Pictou Landing, Potlotek, Sipekne’katik and We’koqma’q.
Membertou said the purchase will not take away from the First Nation’s current revenues or financial position.
Moderate livelihood fishery not impacted
Paul said the Clearwater deal will not slow the push for a moderate livelihood fishery in Nova Scotia.
Membertou and several other bands have launched or intend to launch self-regulated lobster fisheries.
They are exercising a treaty right recognized by the Supreme Court of Canada, but the move has angered — and even prompted violence — from some non-Indigenous commercial fishermen.
“Our investment in a commercial offshore fishery is completely separate from our commercial inshore and moderate livelihood fisheries,” Paul told CBC News.
“We’re still very incredibly committed to our other fisheries and to our communities on moderate livelihood. This deal does not impact the processes and the discussions taking place in other areas of the fishery.”
‘Globally respected brand’
George Paleologou, CEO and president of Premium Brands, praised Clearwater as “a world-class seafood company with a great management team, best-in-class products and a globally respected brand.”
“In partnership with us and the Mi’kmaw First Nations communities, it will become an even stronger business by leveraging the complementary strengths of our three organizations,” added Paleologou.
Clearwater was founded in 1978 by John Risley and Colin MacDonald.
Now in their 70s, they have said the company was put for sale earlier this year as part of succession planning since their children were not interested in taking over the business.
Ontario reports record-high 1,589 new COVID-19 cases as Toronto, Peel lock down – CBC.ca
Premier Doug Ford is scheduled to hold a news conference beginning at 1 p.m. at Queen’s Park. Ford’s office says he will be joined by several cabinet members, including the minister of health.
You can watch it live in this story.
Ontario reported 1,589 more cases of COVID-19 on Monday, another single-day record as Toronto and Peel Region move into a second lockdown.
The new cases include 336 in Toronto, 535 in Peel and 205 in York Region. They drive the seven-day average up to 1,423 after six consecutive days of increases.
Other public health units that saw double-digit increases in today’s update were:
- Waterloo Region: 83
- Hamilton: 61
- Windsor: 56
- Halton Region: 53
- Durham Region: 41
- Ottawa: 40
- Wellington-Dufferin-Guelph: 30
- Simcoe Muskoka: 25
- Niagara Region: 24
- Brant County: 16
- Thunder Bay: 16
- Middlesex-London: 13
[Note: All of the figures used in this story are found on the Ministry of Health’s COVID-19 dashboard or in its Daily Epidemiologic Summary, which include data from up until 4 p.m. the previous day. The number of cases for any region may differ from what is reported by the local public health unit, because local units report figures at different times.]
Sixty of the new infections were school-related, including 51 students and nine staff members. A total of 676, or about 14 per cent, of Ontario’s 4,828 publicly-funded schools have reported at least one case of COVID-19. Three schools are remain closed due to the illness.
The additional cases come as Ontario’s labs processed 37,471 test samples for the novel coronavirus, and 18,394 were added to the queue to be completed. The province reported an overall test positivity rate of 4.6 per cent.
There are currently 13,004 confirmed, active cases of COVID-19 in the province, the most at any point since the outbreak began in late January.
Nineteen more people with COVID-19 have died, the province said, pushing the official death toll to 3,505. The additional deaths include a man in his 20s, the fifth person in their 20s to die with COVID-19 in Ontario. So far this month, 360 people with infections of the novel coronavirus have died provincewide.
Meanwhile, Toronto and Peel Region have entered the most restrictive tier of Ontario’s pandemic protection plan.
It means that for at least the next 28 days, non-essential retailers can only offer curbside pickup, while restaurants are closed to all but takeout and delivery orders.
Personal services have also been forced to close, but schools and child-care centres remain open.
Premier Doug Ford announced the move on Friday, but it didn’t come into effect until 12:01 a.m. today.
That gave residents of Toronto and Peel the chance to stock up over the weekend, and many did — flooding local malls, even as those facilities extended hours in an effort to prevent too many people from coming at once.
While Toronto and Peel face the strictest measures, other areas of the province are also seeing rules tighten.
Durham Region and Waterloo joined York Region in the red classification today. The rules limit restaurants, gyms and food courts to 10 indoor patrons with social distancing, with even tighter restrictions on private gatherings.
The areas around Huron, Perth, Simcoe, Muskoka, and Windsor-Essex have moved to the orange classification, which caps gatherings at staffed businesses to 50 people indoors, or four per table at restaurants.
Toronto and Peel Region enter lockdown for at least 28 days – CP24 Toronto's Breaking News
Toronto and Peel are officially under the lockdown stage of Ontario’s framework for COVID-19 restrictions, meaning that all non-essential retail stores are limited to curbside pickup only and a wide swath of other businesses are closed entirely.
The hard-hit regions entered the category at 12:01 a.m. and will remain under the added restrictions associated with it for at least the next 28 days.
It means that retail stores, with some exceptions for grocers, hardware stores, discount and big box retailers selling groceries, and corner stores, will be prohibited from allowing customers into their stores. Personal care services, like barbers and salons, have also been forced to close and restaurants are now limited to takeout only.
Meanwhile, new rules have went into effect in Toronto and Peel to limit all indoor gatherings to only those who live in the household. The limit for outdoor gatherings has also been lowered from 25 to 10 people.
“The main thing people can do now is please stay home,” Mayor John Tory told CP24 on Monday morning. “It matters less in the context of achieving the result which kind of stores are close and not closed. It matters more whether people decide to follow the advice, which is if it is at all possible just stay home.”
The province announced the added restrictions for Toronto and Peel on Friday as new cases of COVID-19 continued to surge in both jurisdictions.
In anticipation of the rules going into effect, several malls extended their hours over the weekend and there were reports of long lineups at stores.
Speaking with CP24, Tory said that the strict new rules are an important, even if there is not a lot of data pointing to widespread transmission in settings like retail stores, for example.
“We don’t really know in every single case exactly where people picked up this virus, we just know it is spreading and was spreading in a fashion last week and the week before and the week before that that was clearly unacceptable in terms of the trend line we were on,” he said. “Look it is a sad day today just to see this kind of thing having to happen but again the choice was to not do these kind of things and have a much longer, much broader, much worse kind of lockdown happen latter when we had completely lost control of this thing as you have seen elsewhere in the world.”
While the lockdown will shutter a number of businesses across Toronto and Peel, schools and childcare centres will remain open as will services deemed essential like dentist offices and physiotherapists.
Industries like film production and construction that were largely shut down in the spring will also continue top operate with restrictions.
That means that several major Hollywood productions currently being shot in the GTA will not be halted, including a movie featuring comedian Kevin Hart.
“I am a little bit concerned that this shutdown doesn’t focus on the largest area of spread. In Brampton our largest source of transmission is industrial settings. Our largest two sectors are transportation logistics and food processing and neither of those sectors are shut down because they are considered essential,” Brampton Mayor Patrick Brown told CP24 on Monday. “So this isn’t truly a lockdown for Brampton. Small businesses have been shut down but with the largest portion of our workforce being essential workers nothing has really changed.”
In addition to the new rules in Toronto and Peel, Durham Region and Waterloo have also been moved into the red category alongside York Region as of today. The rules for that category limit restaurants, gyms and food courts to 10 indoor patrons at a time.
U.S. could begin COVID-19 vaccine rollout by mid-December, top health official says – CBC.ca
The head of the U.S. effort to produce a coronavirus vaccine said the first inoculations could happen as soon as 24 hours after the Food and Drug Administration grants approval, which would kick off the largest inoculation campaign in U.S. history starting in mid-December.
“Within 24 hours from the approval, the vaccine will be moving and located in the areas where each state will have told us where they want the vaccine doses,” Dr. Moncef Slaoui, the chief scientific adviser for the government’s “Operation Warp Speed” vaccine program, told NBC’s Meet the Press.
The FDA’s outside advisers will meet on Dec. 10 to discuss whether to authorize the COVID-19 vaccine developed by Pfizer and German partner BioNTech for emergency use. Slaoui told CNN he expects vaccinations would begin on the second day after approval, Dec. 12.
Moderna Inc is expected to seek approval later in December for its COVID-19 vaccine.
The effort to roll out vaccines across the country of 330 million people comes as U.S. President Donald Trump has blocked the normal transition of government before the inauguration of President-elect Joe Biden on Jan. 20. Slaoui said he hoped for a smooth transition and did not expect the vaccination effort to be derailed.
Vaccines will be distributed based on each state’s population, Slaoui said. Each state will decide who gets the vaccine first with the recommendation that priority be given to health care workers, front-line workers and the elderly who face the highest risks of dying from the virus.
About 70 per cent of the country’s population needs to be immunized to achieve herd immunity, a goal the U.S. could reach by May, Slaoui said.
Millions ignoring Thanksgiving warnings
As new COVID-19 cases continue to surge, millions of Americans are ignoring federal and state warnings to stay home for Thanksgiving to prevent overwhelming already strained hospitals. Many people are trying to get tested before the holiday on Thursday, leading to long lines in New York City and elsewhere.
Testing shortages still plague many parts of the country with most pharmacies offering COVID-19 tests in suburban Chicago were fully booked ahead of Thanksgiving and long lines at state drive-through testing facilities.
“We’re clearly involved now in a very, very difficult surge here throughout the United States and even globally,” Dr. Anthony Fauci, the country’s top infectious disease expert, told NBC.
Last week Biden called the vaccination program a “massive undertaking” and “one of the greatest challenges we will face as a nation.”
The U.S. must distribute tens of millions of vaccines while also combating misinformation about vaccines spread on social media. A recent Gallup poll showed only 58 per cent of Americans would get the vaccine, up from 50 per cent in September.
Incoming White House Chief of Staff Ron Klain said it was crucial to have a seamless flow of information between Trump’s coronavirus experts and Biden’s transition team to avoid delays in distribution after Biden takes office on Jan. 20.
WATCH | Who would get a COVID-19 vaccine first and when?
Biden warned last week that “more people will die if we don’t coordinate.”
The number of U.S. coronavirus cases has surpassed 12 million and rose by more than one million cases in less than a week for the first time.
Deaths have topped 256,000, according to a tally by Johns Hopkins University, with many health experts warning deaths will rise to over 2,000 a day in the coming weeks.
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