Canada press digest: October 21
TSAT•Telesat's lenders reportedly proposed a C$1.7 billion equity rights offering and C$1.5 billion loan. Shopify's chief technology officer is departing, and Bank of Montreal appointed a new U.S. country head effective November 1.
1. Telesat financing proposal
Telesat Corp's lenders reportedly proposed a recapitalization plan featuring a C$1.7 billion equity rights offering and a C$1.5 billion loan. The satellite operator is at risk of missing a looming debt-repayment deadline.
2. Shopify leadership change
Shopify Chief Technology Officer Mikhail Parakhin is departing. He joined in 2024 to lead engineering and data.
3. Bank of Montreal appointment
Bank of Montreal appointed its U.S. general counsel, Tim Cox, as U.S. country head and CEO of its U.S. subsidiaries, effective November 1.
