Company News

PRESS DIGEST- Canada - Dec 14

Dec 14 (Reuters) - The following are the top stories from selected Canadian newspapers. Reuters has not verified these stories and does not vouch for their accuracy.


** Detour Gold Corp shareholders on Thursday ousted five of nine board members, including chief executive officer Michael Kenyon and chairman Alex Morrison, the culmination of a six-month duel between the troubled Toronto-based gold miner and activist New York hedge fund, Paulson & Co.

** Echelon Wealth Partners Inc said on Friday that it is acquiring Dundee Securities Ltd and will amalgamate the firm with Echelon Wealth upon closing later this week. The deal will add almost C$1 billion ($746.99 million) in Echelon's assets under administration and management.

** Ontario said on Thursday that is scaling back its plans for the storefront sale of marijuana in the province due to concerns about shortages of product in the industry. Instead of opening up the sale of cannabis on April 1 to an uncapped number of licensed retailers as previously planned, the province would adopt a phased-in approach that will initially limit the number of retail licences available to just 25.


** Michael Spavor, a Canadian whose work brought him into North Korean leader Kim Jong Un's orbit, is missing in China, Global Affairs Canada confirmed Wednesday. He is the second Canadian to go missing in China, after the Beijing Bureau of State Security detained Michael Kovrig, a Canadian diplomat who is on a leave from his job on Monday. ($1 = 1.3387 Canadian dollars)

Compiled by Bengaluru newsroom