Jasmine Paolini faces Barbora Krejcikova in the Wimbledon women’s final

TORONTO – Sleep Country Holdings Inc. shareholders have voted in favour of selling the business to Fairfax Financial Holdings Ltd. for $1.7 billion.

The mattress retailer says 99.93 per cent of shareholders supported the deal, which will see the financial holding company acquire all issued and outstanding common shares of Sleep Country for $35 per share.

Since announcing the deal in July, Sleep Country says it received an interim order from the Ontario Superior Court of Justice and an advance ruling certificate from the Commissioner of Competition, which allow it to move forward with the transaction.

Sleep Country expects the sale to close in its fourth quarter and says once the deal is complete, it will apply to have its common shares delisted from the Toronto Stock Exchange.

After the vote, CEO Stewart Schaefer told investors he was pleased they approved the agreement, which he says will unlock shareholder value.

He added that Fairfax is ready for the journey ahead of the business, even though macroeconomic headwinds pose challenges.

This report by The Canadian Press was first published Sept. 18, 2024.

Companies in this story: (TSX:ZZZ)

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EDMONTON – Alberta Premier Danielle Smith says her government’s $8.6-billion plan to fast-track building new schools will include a pilot project to incentivize private ones.

Smith said the ultimate goal is to create thousands of new spaces for an exploding number of new students at a reduced cost to taxpayers.

“We want to put all of the different school options on the same level playing field,” Smith told a news conference in Calgary Wednesday.

Smith did not offer details about how much private school construction costs might be incentivized, but said she wants to see what independent schools might pitch.

“We’re putting it out there as a pilot to see if there is any interest in partnering on the same basis that we’ll be building the other schools with the different (public) school boards,” she said.

Smith made the announcement a day after she announced the multibillion-dollar school build to address soaring numbers of new students.

By quadrupling the current school construction budget to $8.6 billion, the province aims to offer up 30 new schools each year, adding 50,000 new student spaces within three years.

The government also wants to build or expand five charter school buildings per year, starting in next year’s budget, adding 12,500 spaces within four years.

Currently, non-profit independent schools can get some grants worth about 70 per cent of what students in public schools receive per student from the province.

However, those grants don’t cover major construction costs.

John Jagersma, executive director of the Association of Independent Schools and Colleges of Alberta, said he’s interested in having conversations with the government about incentives.

He said the province has never directly funded major capital costs for their facilities before, and said he doesn’t think the association has ever asked for full capital funding.

He said community or religious groups traditionally cover those costs, but they can help take the pressure off the public or separate systems.

“We think we can do our part,” Jagersma said.

Dennis MacNeil, head of the Public School Boards Association of Alberta, said they welcome the new funding, but said money for private school builds would set a precedent that could ultimately hurt the public system.

“We believe that the first school in any community should be a public school, because only public schools accept all kids that come through their doors and provide programming for them,” he said.

Jason Schilling, president of the Alberta Teachers’ Association, said if public dollars are going to be spent on building private schools, then students in the public system should be able to equitably access those schools.

“No other province spends as much money on private schools as Alberta does, and it’s at the detriment of public schools, where over 90 per cent of students go to school,” he said.

Schilling also said the province needs about 5,000 teachers now, but the government announcement didn’t offer a plan to train and hire thousands more over the next few years.

Alberta NDP Leader Naheed Nenshi on Tuesday praised the $8.6 billion as a “generational investment” in education, but said private schools have different mandates and the result could be schools not being built where they are needed most.

“Using that money to build public schools is more efficient, it’s smarter, it’s faster, and it will serve students better,” Nenshi said.

Education Minister Demetrios Nicolaides’ office declined to answer specific questions about the pilot project Wednesday, saying it’s still under development.

“Options and considerations for making capital more affordable for independent schools are being explored,” a spokesperson said. “Further information on this program will be forthcoming in the near future.”

This report by The Canadian Press was first published Sept. 18, 2024.

VANCOUVER – Supervised injection sites are saving the lives of drug users everyday, but the same support is not being offered to people who inhale illicit drugs, the head of the BC Centre for Excellence in HIV/AIDS says.

Dr. Julio Montaner said the construction of Vancouver’s first indoor supervised site for people who inhale drugs comes as the percentage of people who die from smoking drugs continues to climb.

The location in the Downtown Eastside at the Hope to Health Research and Innovation Centre was unveiled Wednesday after construction was complete, and Montaner said people could start using the specialized rooms in a matter of weeks after final approvals from the city and federal government.

“If we don’t create mechanisms for these individuals to be able to use safely and engage with the medical system, and generate points of entry into the medical system, we will never be able to solve the problem,” he said.

“Now, I’m not here to tell you that we will fix it tomorrow, but denying it or ignoring it, or throw it under the bus, or under the carpet is no way to fix it, so we need to take proactive action.”

Nearly two-thirds of overdose deaths in British Columbia in 2023 came after smoking illicit drugs, yet only 40 per cent of supervised consumption sites in the province offer a safe place to smoke, often outdoors, in a tent.

The centre has been running a supervised injection site for years which sees more than a thousand people monthly and last month resuscitated five people who were overdosing.

The new facilities offer indoor, individual, negative-pressure rooms that allow fresh air to circulate and can clear out smoke in 30 to 60 seconds while users are monitored by trained nurses.

Advocates calling for more supervised inhalation sites have previously said the rules for setting up sites are overly complicated at a time when the province is facing an overdose crisis.

More than 15,000 people have died of overdoses since the public health emergency was declared in B.C. in April 2016.

Kate Salters, a senior researcher at the centre, said they worked with mechanical and chemical engineers to make sure the site is up to code and abidies by the highest standard of occupational health and safety.

“This is just another tool in our tool box to make sure that we’re offering life-saving services to those who are using drugs,” she said.

Montaner acknowledged the process to get the site up and running took “an inordinate amount of time,” but said the centre worked hard to follow all regulations.

“We feel that doing this right, with appropriate scientific background, in a medically supervised environment, etc, etc, allows us to derive the data that ultimately will be sufficiently convincing for not just our leaders, but also the leaders across the country and across the world, to embrace the strategies that we are trying to develop.” he said.

Montaner said building the facility was possible thanks to a single $4-million donation from a longtime supporter.

Construction finished with less than a week before the launch of the next provincial election campaign and within a year of the next federal election.

Montaner said he is concerned about “some of the things that have been said publicly by some of the political leaders in the province and in the country.”

“We want to bring awareness to the people that this is a serious undertaking. This is a very massive investment, and we need to protect it for the benefit of people who are unfortunately drug dependent.” he said.

This report by The Canadian Press was first published Sept. 18, 2024.

The Canadian Press. All rights reserved.