RE:RE:TSAT got $4B from governmentIt's shocking that there is no report on the CBC website about this huge federal government investment. Back when Bombardier was seeking financial support, the news was plastered everywhere you looked.
>>>OTTAWA, ON, Aug. 12, 2021 /CNW/ - As Canada prepares to emerge from the pandemic, the Government of Canada is making the investments required for a robust economic recovery. Strategic investments in connectivity not only act as a catalyst for job creation and economic growth but also facilitate the government's commitment to providing all Canadians with access to high-speed Internet. Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, together with the Honourable Franois-Philippe Champagne, Minister of Innovation, Science and Industry, announced that the Government of Canada has entered into an agreement-in-principle with Telesat to invest $1.44 billion into Telesat's advanced low Earth orbit (LEO) satellite constellation, Telesat Lightspeed. The implementation of this agreement-in-principle would provide financing to Telesat through a $790-million repayable loan and a $650-million preferred share equity investment for which the government would receive a dividend. As part of this investment, the government would also receive warrants that can be converted into common shares in Telesat so that Canadians can share in the financial upside from Telesat Lightspeed.
https://www.newswire.ca/news-releases/government-of-canada-announces-1-44-billion-investment-in-telesat-supporting-the-future-of-connectivity-for-rural-and-remote-communities-857100444.html