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Canada’s Liberals projected to win election overshadowed by Trump’s threats

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Canada’s Liberal Party, led by Prime Minister Mark Carney, is on course to win the country’s federal election, Canadian media projects, following a campaign overshadowed by provocations and tariffs from US President Donald Trump.

With votes still being counted, CBC News said it is too soon to say whether it will be a minority or majority government – a party needs 172 seats to form a majority.

Canada’s uneasy relationship with the United States deeply influenced the tenor of this year’s campaign. Trump’s tariffs against Canadian exports pose a grave threat to the country’s economy, and his threats to annex Canada as “the 51st state” have enraged Canadians of every political persuasion.

“I reject any attempts to weaken Canada, to wear us down, to break us so that America can own us,” Carney told reporters in late March. “We are masters in our own home.”

Though Canadians have a diverse array of parties to choose from on their federal ballots, the main contest is between the incumbent Liberals, led by Carney since March, and the Conservative opposition, led by longtime parliamentarian Pierre Poilievre.

Carney, a former banker, became prime minister in March after his predecessor Justin Trudeau resigned from office in the wake of dire polls that suggested a stunning loss to come in a federal election.

Trudeau announced his plan to resign in January while facing grim polling figures, a serious cost of living crisis and an internal revolt in his cabinet.

The numbers began to shift in the Liberals’ favor as Trudeau hit back against US tariffs during his last days in office. After winning the party leadership contest in a landslide, Carney continued to spearhead Canada’s opposition to Trump’s annexation threats and trade war.

Carney had never held political office before becoming prime minister. The former central banker touted his experience shepherding Canada’s economy through the 2008 financial crisis and Britain through Brexit, to appeal to Canadians seeking solace from the gloomy economic headwinds caused by the storm of tariffs announced by the White House.

The idea that Canada needs to forge its own path outside of US influence has been central to the prime minister’s messaging since he took office.

Carney pitched himself throughout the campaign as an experienced professional from the political center who can steward Canada’s economy through a period of profound turbulence.

“I understand how the world works,” Carney told podcaster Nate Erskine-Smith in October. “I know people who run some of the world’s largest companies and understand how they work. I know how financial institutions work. I know how markets work … I’m trying to apply that to the benefit of Canada.”

Carney has pledged to “build things in this country again” to make Canada less reliant on the US: new homes, new factories, and new sources of “clean and conventional energy.”

“My solemn promise is to stand up for Canadian workers, to stand up for Canadian businesses,” Carney said in March. “We will stand up for our history, our values and our sovereignty.”

This is a developing story and will be updated.

This post appeared first on cnn.com

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First batch of Hong Kong democrats freed after four years’ prison for subversion

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The first batch of individuals jailed in the landmark Hong Kong national security trial of “47 democrats” accused of conspiracy to commit subversion was freed on Tuesday after being behind bars for more than four years.

Four former pro-democracy lawmakers, including Claudia Mo, Kwok Ka-ki, Jeremy Tam and Gary Fan were driven away from three separate prisons across Hong Kong around dawn. Security was tight with patrols of police officers, and access to some roads to the prisons restricted for hours beforehand.

A Reuters witness outside the maximum security Stanley Prison, where Kwok and Tam were held, was told by a police officer they had left.

Vehicles were also seen leaving the more remote Shek Pik Prison on Lantau Island and a women’s correctional institution at Lo Wu close to the border with mainland China.

Police blocked access to two roads leading to the entrance of Shek Kip Prison, so media could only stand on a bridge next to a reservoir overlooking the ocean-facing facility.

Fan, speaking to the press when he arrived at his home early on Tuesday, said: “I will go back home and reunite with family. Thank you Hong Kongers.”

Philip Bowring, Mo’s husband, said she was calm on her return home and needed time to rest, local media reported.

Since large and sustained pro-democracy protests erupted in Hong Kong for most of 2019, China has cracked down on the democratic opposition as well as liberal civil society and media outlets under sweeping national security laws.

The 47 pro-democracy campaigners were arrested and charged in early 2021 with conspiracy to commit subversion under a Beijing-imposed national law which carried sentences of up to life in prison.

Forty-five of these were convicted following a marathon trial, with sentences of up to 10 years. Only two were acquitted.

All four had been denied bail since being charged and were remanded in custody for nearly two years before the trial kicked off in early 2023. All four had pleaded guilty, and were sentenced to four years and two months imprisonment.

Mo, Kwok and Tam were former members of the Civic Party, once one of Hong Kong’s leading pro-democracy parties, which was disbanded in early 2024 amid the national security crackdown.

Mo resigned from the Civic Party in 2016 and founded the localist group HK First with Fan of the Neo Democrats.

The democrats were found guilty of organizing an unofficial “primary election” in 2020 to select candidates for a legislative election. Prosecutors accused the activists of plotting to paralyze the government by engaging in potentially disruptive acts had they been elected.

Western governments including the US called the trial politically motivated and had demanded the democrats be freed.

Hong Kong and Beijing, however, say all are equal under the national security laws and the democrats received a fair trial.

This post appeared first on cnn.com

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Convicted Italian cardinal pulls out of conclave to choose new pope

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A cardinal convicted of financial crimes by the Vatican said Tuesday he will not take part in the secret conclave to elect the new pope.

Cardinal Giovanni Angelo Becciu, once one of the most powerful figures in the Vatican, was ordered by Pope Francis in 2020 to resign the “rights and privileges” of a cardinal after he became embroiled in a Vatican financial scandal.

Following the pope’s death last week, Becciu launched an appeal in support of his right to be in the conclave, but on Tuesday, he issued a statement announcing he was formally pulling out. “I have decided to obey, as I have always done, Pope Francis’ will not to enter the Conclave while remaining convinced of my innocence,” he said.

Cardinals have chosen May 7 as the date to start conclave and elect a new leader for 1.4 billion Catholics around the world, the Vatican announced Monday.

Becciu’s decision to withdraw from the conclave comes just seven days after he told a Sardinian newspaper that “there was no explicit will to exclude me from the conclave nor a request for my explicit renunciation in writing.”

The Sardinian cardinal previously held the position of “sostituto” (“substitute”) in the Holy See’s Secretariat of State – a papal chief of staff equivalent. The role offered Becciu walk-in privileges to see the pope and he commanded huge authority across the church’s central government. He was later moved to a position running the Vatican’s saint-making department.

Becciu was convicted of embezzlement and fraud in 2023 and handed a five-and-a-half-year jail sentence. He is the first cardinal to be convicted by the Vatican’s criminal court.

But the cardinal, who has always maintained his innocence, launched an appeal that’s currently still under consideration. He’s allowed to continue to live in a Vatican apartment while this process is underway.

This post appeared first on cnn.com

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‘Mushroom murder’ trial begins for woman accused of killing lunch guests in Australia

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The trial of a woman accused of murdering three elderly people after allegedly serving them a lunch of poisonous mushrooms began in Australia on Tuesday, as additional charges of the attempted murder of her husband were dropped by prosecutors.

Erin Patterson is charged with the 2023 murders of her mother-in-law Gail Patterson, father-in-law Donald Patterson and Gail’s sister Heather Wilkinson, along with the attempted murder of Ian Wilkinson, Heather’s husband, in a case that has gripped Australia.

All four became ill after the lunch hosted by the accused at her home in Leongatha, a town of around 6,000 people some 135 kilometers (84 miles) from Melbourne.

Prosecutors allege the mushrooms were served to the victims as part of a beef Wellington.

Fifteen jurors were selected on Tuesday at the Latrobe Valley Magistrates’ Court in nearby Morwell, with the opening arguments expected to begin on Wednesday morning.

Charges regarding the attempted murder of the accused’s husband, Simon Patterson, have been dropped by prosecutors, Justice Christopher Beale told the court on Tuesday.

“Those charges have been dropped and you must put them out of your mind,” he told the jury.

Erin Patterson has pleaded not guilty to all charges.

The case has generated huge interest both in Australia and internationally, with the six seats in the courtroom reserved for media allocated in a daily ballot. Dozens more are expected to watch proceedings in an overflow room set up at the court.

State broadcaster ABC is producing a daily podcast during the trial, which is expected to run for five to six weeks, while streaming service Stan has commissioned a documentary on what it says is “one of the highest profile criminal cases in recent history.”

This post appeared first on cnn.com

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Binding Commitments Received for A$1.0 Million under Convertible Note Placement

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Nutritional Growth Solutions Limited (ASX:NGS) (‘NGS’ or ‘the Company’), is pleased to announce that it has received binding commitments for the issue of 1,000,000 convertible notes (Placement CNs), to be issued at $1.00 each (CN Placement).

HIGHLIGHTS

  • NGS has secured commitments of A$1.0 million under a placement of convertible notes.
  • Each investor who is issued with ordinary shares on conversion of the convertible notes will be issued with one option for each fully paid ordinary share that is issued on conversion of the convertible notes, with that issuance of options to take place on the same date as the ordinary share issuance date. This is expected to be within 10 business days of NGS shareholders approving that issuance of options including for the purposes of ASX Listing Rule 7.1. These options will be exercisable on a 1:1 basis into fully paid ordinary shares in NGS at an exercise price of $0.04 per option, and will expire 3 years following their issue date if they have not been exercised during that 3 year period.
  • The placement of convertible notes was supported by Australian sophisticated and professional investors.
  • Funds raised from the placement of convertible notes will be used to purchase inventory for retail expansion in CVS and Wakefern, as well as working capital and corporate expenses.

The offer of the Placement CNs was made to sophisticated and professional investors in Australia and successfully closed, achieving binding commitments of A$1.0 million.

Stephen Turner, NGS CEO and Managing Director, commented on the CN Placement:

“We are very pleased with the strong support shown by investors in this placement, which provides important growth capital to support our retail expansion into leading U.S. retailers, including CVS and Wakefern. We would like to thank our shareholders for their ongoing support as we execute our growth strategy and build on the momentum from our recent distribution achievements.”

The conversion of the convertible notes into fully paid ordinary shares in NGS will take place at a price of between A$0.03 and A$0.025 per ordinary share within 10 business days of NGS shareholders approving their conversion including for the purposes of ASX Listing Rule 7.1. NGS expects to convene a general meeting of its shareholders to consider whether to approve the conversion of the convertible notes into fully paid ordinary shares in NGS and whether to approve the issuance of options within the next few weeks.

Until the convertible notes are converted into ordinary shares or redeemed, they bear interest which is payable quarterly in arrear at either 10% per annum (if the holder of the convertible notes elects not to receive ordinary shares in NGS in lieu of cash interest), or 15% per annum (if the holder of the convertible notes elects to receive ordinary shares in NGS in lieu of cash interest). Issuance of ordinary shares in NGS in lieu of cash interest is subject to NGS being in compliance with the ASX Listing Rules. If the convertible notes have not been converted by the date that is 2 years after their issue date, they will be redeemed by NGS at their issue price.

Each investor who is issued with ordinary shares on conversion of the convertible notes will be issued with one option for each fully paid ordinary share that is issued on conversion of the convertible notes, with that issuance of options to take place on the same date as the ordinary share issuance date. This is expected to be within 10 business days of NGS shareholders approving that issuance of options including for the purposes of ASX Listing Rule 7.1. These options will be exercisable on a 1:1 basis into fully paid ordinary shares in NGS at an exercise price of $0.04 per option, and will expire 3 years following their issue date if they have not been exercised during that 3 year period (the CN Holder Options). Quotation of the CN Holder Options on the ASX will be sought.

USE OF PROCEEDS

The net proceeds from the issue of the convertible notes are planned to be used in the following areas:

LEAD MANAGER OPTIONS

The Company engaged GBA Capital Pty Ltd (AFSL 544680) to act as lead manager for the CN Placement (Lead Manager).

Under the terms of the mandate with the Lead Manager, the Lead Manager will be issued with 30% of the number of CN Holder Options (the Lead Manager Options). The Lead Manager Options will be exercisable on a 1:1 basis into fully paid ordinary shares in NGS at an exercise price of $0.04 per Lead Manager Option. The Lead Manager Options will expire 3 years following their issue date if they have not been exercised during that 3 year period.

The Lead Manager Options will be issued within 10 business days of NGS shareholders approving that issuance including for the purposes of ASX Listing Rule 7.1. NGS expects the Lead Manager Options to be issued at the same time as the issuance of the CN Holder Options. Quotation of the Lead Manager Options on the ASX will be sought.

Click here for the full ASX Release

This post appeared first on investingnews.com

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Stagflation Looms: Why Economists Are Warning of a Rare and Painful Economic Storm

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The American economy may be heading toward stagflation, an environment characterized by high inflation, slowing growth and rising unemployment, US Federal Reserve Chair Jerome Powell cautioned earlier this month.

‘Unemployment is likely to go up as the economy slows in all likelihood, and inflation is likely to go up as tariffs find their way and some part of those tariffs come to be paid by the public,’ Powell said during an April 15 appearance in Chicago.

While he was careful not to use the word ‘stagflation,’ experts have pointed out that the circumstances Powell outlined correspond with its definition, thrusting the term back into public discourse.

But what exactly is stagflation, and why is it such a concern for investors? Read on to find out.

What is stagflation?

Stagflation describes the economic scenario where inflation remains high even as economic growth slows and unemployment rises. Stagflation is a rare occurrence, and contradicts the foundational economic belief that inflation typically rises during economic booms and falls during recessions.

The term was coined by British politician Iain Macleod in 1965 and became infamous during the 1970s oil crisis, when a dramatic spike in oil prices triggered both rising costs and shrinking output across much of the global economy.

In simple terms, stagflation means you’re paying more for everything while earning less; at the same time, finding a new job, or even keeping your current one, becomes more difficult.

The misery index, created to measure such bleak periods, adds the unemployment rate to the inflation rate. During the worst of the 1970s, it exceeded 20. As of March 25, 2025, it stood at around 6.6, with inflation at 2.4 percent and unemployment at 4.2 percent. Many economists fear that number could rise quickly if current trends continue.

Why are experts sounding the alarm on stagflation?

A combination of geopolitical shocks, fragile supply chains and new economic policies — particularly a sweeping series of tariffs enacted by the Trump administration — has created a perfect storm, economists say.

The tariffs include a 10 percent universal tax on all imports, up to 25 percent duties on goods from Canada and Mexico and a staggering 245 percent tariff on imports from China. These are not minor adjustments — they are foundational changes to the pricing structure of the US consumer and business marketplace.

‘The level of the tariff increases announced so far is significantly larger than anticipated,’ Powell said in a written statement from his Chicago appearance that was published on April 16. ‘The same is likely to be true of the economic effects, which will include higher inflation and slower growth.’

In other words, the tariffs act as a supply shock: They make it more expensive to bring goods into the country, which businesses pass on to consumers through price hikes. At the same time, higher costs can lead companies to cut back on investment and hiring, slowing the economy and increasing job losses.

“The Trump White House tariff policy has certainly increased the risk of both higher inflation and lower growth,” Brett House, professor of professional practice in economics at Columbia Business School, told CNBC.

To better understand what’s at stake, economists are looking at the 1970s — a decade that was marked by an oil embargo, skyrocketing prices and stagnant economic activity.

In response, then-Fed Chair Paul Volcker aggressively hiked interest rates, with the federal funds rate peaking at nearly 21 percent in 1981. The move ultimately tamed inflation, but plunged the country into two recessions.

That painful cure became the playbook for handling runaway prices, with central banks committing to maintaining credibility and acting decisively, even at the cost of job losses.

“The Fed’s credibility in keeping inflation low and stable, won over decades, kept longer-term inflation expectations stable,” Fed Governor Adriana D. Kugler said in a recent statement.

Still, today’s economic landscape differs from the 1970s in critical ways. The US is no longer as dependent on foreign oil. And labor unions, once a powerful driver of wage spirals, now represent a smaller portion of the workforce.

However, these differences might not offer much protection. While oil prices are less of a concern today, tariff-induced uncertainty could have a similar chilling effect.

How does stagflation impact everyday life?

For most people, stagflation translates into economic whiplash.

Essentially, prices go up, wages don’t keep pace and job security becomes tenuous. According to Forbes, a rising misery index would create a whole new roster of challenges for the everyday person.

To illustrate, people will likely have to spend more to get the same quantity of food, clothes and gas. Employees’ chances of getting laid off or working fewer hours will increase. For recent college graduates, the job market could become especially brutal. For families, the cost of borrowing — whether to buy a home, finance a car or use a credit card — could rise steeply if the Fed chooses to raise interest rates to combat inflation.

Diane Swonk, chief economist at KPMG, described today’s environment as having a “whiff of stagflation,” where people feel less secure about their financial future, even if the economic statistics haven’t fully caught up to the sentiment.

Is stagflation a certainty?

Not all economists agree that stagflation is inevitable, or that it will reach the same severity as in the 1970s.

Still, concerns are growing. Michael Feroli, JPMorgan Chase & Co.’s (NYSE:JPM) chief US economist, issued a warning earlier this month, stating the bank now expects a recession in 2025.

He predicts unemployment will rise to 5.3 percent, while a core measure of inflation will reach 4.4 percent, which he described as a “stagflationary forecast.”

KPMG also projects a shallow recession, with inflation peaking at the end of the third quarter. But even a modest downturn could be painful for vulnerable workers and households already stretched thin by pandemic-era economic disruptions and the fading buffer of savings built up during that time.

What does stagflation mean for investors?

Stagflation presents a complex and often discouraging landscape for investors.

Unlike recessions, where bonds tend to do well as interest rates fall, stagflation often erodes the value of both stocks and bonds. In such periods, equities can suffer from declining corporate profits due to rising input costs, as well as weakening consumer demand, creating varied headwinds for the stock market.

At the same time, high inflation erodes the real value of future earnings, often leading to downward pressure on stock prices, particularly for growth-oriented companies whose valuations depend heavily on projected future cashflow.

Bonds, too, become vulnerable. Inflation eats into the fixed income stream provided by bonds, especially longer-term bonds. As inflation rises, the purchasing power of interest payments declines, and yields on newly issued bonds increase to compensate investors, driving down the market value of existing lower-yield bonds.

This was evident during the 1970s, the last prolonged period of US stagflation. At that time, both the S&P 500 (INDEXSP:.INX) and US treasuries experienced prolonged periods of underperformance in real terms.

Gold, on the other hand, surged in value as investors sought assets that could maintain their purchasing power amid inflation and economic uncertainty. The price of gold increased more than 1,000 percent from 1971 to 1980, reflecting its appeal as a hedge during economic stress. Commodities more broadly — such as oil, agricultural products and industrial metals — have historically performed better in stagflationary conditions.

Since commodities prices are a direct input into inflation measures, they tend to rise during inflationary periods, particularly when inflation is driven by supply shocks. For instance, in the 1970s, oil prices quadrupled following the OPEC embargo, delivering significant gains for energy producers and commodity-focused investors.

Still, it’s worth noting that no single asset or strategy is immune to the pressures of stagflation. While diversification, inflation hedging and a focus on quality assets are time-tested approaches, the unique combination of rising prices and faltering growth challenges even seasoned investors.

Investor takeaway

Stagflation is not just an economic term from the past — it may soon be a lived reality for millions and even billions.

With tariffs reshaping trade dynamics in real time, inflation hovering stubbornly above the Fed’s target and job growth showing signs of slowing, the conditions are set for a troubling period ahead.

Whether or not future policymaking can steer the economy away from this outcome remains to be seen. For now, consumers, businesses and investors alike would do well to prepare for the reality that stagflation brings — not just a historical anomaly, but a modern economic threat.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

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This post appeared first on investingnews.com

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Silver Crown Royalties Announces Closing of Final Tranche of its Non-Brokered Private Placement

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(TheNewswire)

Silver Crown Royalties Inc. ( Cboe: SCRI, OTCQX: SLCRF, BF: QS0 ) ( ‘Silver Crown’ ‘SCRi’ the ‘Corporation’ or the ‘Company’ ) is pleased to announce that the Company has successfully closed the third and final tranche (‘ Final Tranche ‘) of its non-brokered offering of units ( ‘Units’ ) that was previously announced on February 6, 2025 (the ‘Offering’ ) and issued 89,400 Units at a price of C$6.50 per Unit, for gross proceeds of approximately C$581,100

Each Unit consists of one common share ( ‘Common Share’ ) and one Common Share purchase warrant ( ‘Warrant’ ), with each Warrant exercisable to acquire one additional Common Share at an exercise price of C$13.00 for a period of three years from the closing date. A total of 232,248 Units were issued in accordance with the Offering for cumulative gross proceeds of C$1,509,615.

The proceeds from the Final Tranche will be used to partially fund the second tranche of the Company’s silver royalty acquisition on the Igor 4 project in Peru, as well as general and administrative expenses. All securities issued are subject to a statutory hold period of four months plus one day from the date of issuance, in accordance with applicable securities legislation. The closing was subject to customary conditions, including the approval of Cboe Canada Inc.

Regarding the receipt of payments from the Company’s producing royalties, Silver Crown expects to receive cash payments equivalent to approximately 6,703 ounces of silver in the first quarter of 2025. This is driven by the early payment of the PPX/Igor 4 royalty as well as payments under the Elk Gold Royalty.

ABOUT Silver Crown Royalties INC.

Founded by industry veterans, Silver Crown Royalties ( Cboe: SCRI | OTCQX: SLCRF | BF: QS0 ) is a publicly traded, silver royalty company. Silver Crown (SCRi) currently has four silver royalties of which three are revenue-generating. Its business model presents investors with precious metals exposure that allows for a natural hedge against currency devaluation while minimizing the negative impact of cost inflation associated with production. SCRi endeavors to minimize the economic impact on mining projects while maximizing returns for shareholders. For further information, please contact:

Silver Crown Royalties Inc.

Peter Bures, Chairman and CEO

Telephone: (416) 481-1744

Email: pbures@silvercrownroyalties.com

FORWARD-LOOKING STATEMENTS

This release contains certain ‘forward looking statements’ and certain ‘forward-looking information’ as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as ‘may’, ‘will’, ‘should’, ‘expect’, ‘intend’, ‘estimate’, ‘anticipate’, ‘believe’, ‘continue’, ‘plans’ or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management’s current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. Forward-looking statements and information include, but are not limited to, the proceeds from the Final Tranche will be used to partially fund the second tranche of the Company’s silver royalty acquisition on the Igor 4 project in Peru, as well as general and administrative expenses. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual actions, events or results to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the impact of general business and economic conditions; the absence of control over mining operations from which SCRi will purchase gold and other metals or from which it will receive royalty payments and risks related to those mining operations, including risks related to international operations, government and environmental regulation, delays in mine construction and operations, actual results of mining and current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined; accidents, equipment breakdowns, title matters, labor disputes or other unanticipated difficulties or interruptions in operations; SCRi’s ability to enter into definitive agreements and close proposed royalty transactions; the inherent uncertainties related to the valuations ascribed by SCRi to its royalty interests; problems inherent to the marketability of gold and other metals; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; industry conditions, including fluctuations in the price of the primary commodities mined at such operations, fluctuations in foreign exchange rates and fluctuations in interest rates; government entities interpreting existing tax legislation or enacting new tax legislation in a way which adversely affects SCRi; stock market volatility; regulatory restrictions; liability, competition, the potential impact of epidemics, pandemics or other public health crises on SCRi’s business, operations and financial condition, loss of key employees. SCRi has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. SCRi undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management’s best judgment based on information currently available.

This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities of the Company in Canada, the United States or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.

CBOE CANADA DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

Copyright (c) 2025 TheNewswire – All rights reserved.

News Provided by TheNewsWire via QuoteMedia

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Canadian Filipinos mourn after car ramming attack on their community. Here’s what we know

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A man accused by police of carrying out a deadly car-ramming in Vancouver has been charged with murder, as Canadian Filipinos mourn the attack on their community.

Kai-Ji- Adam Lo allegedly plowed his car into a crowd at a street festival celebrating Filipino heritage on Saturday night, killing at least 11 people and injuring dozens.

The suspect, who was detained on the scene, had a history of mental health-related interactions with authorities, police said.

Here’s what we know so far.

What happened?

Filipinos in south Vancouver had gathered for a community street party on Lapu Lapu Day, an event commemorating an Indigenous leader who fought against Spanish colonization of the Philippines.

But what had begun as a joyous occasion turned into a horrific scene when a black Audi SUV was driven into the large crowd at around 8 p.m. local time. The driver is thought to have operated alone and was the only person in the vehicle, police said.

Festival attendees and bystanders helped chase the driver down and he was later arrested at the site, according to Vancouver Police.

Who is the suspect?

Lo, a 30-year-old Vancouver resident, has been charged with eight counts of second-degree murder, according to police statement on Sunday. He has appeared in court and remains in custody.

Vancouver police said more charges are expected.

The police statement did not give further identifying information, such as Lo’s ethnicity, or possible motives – but authorities had earlier said there was no sign the attack was an act of terrorism.

Who were the victims?

Eleven people, ranging in age from 5 to 65, were killed in the attack, police said. The names of the those who died have not yet been released and some have yet to be formally identified, the statement said.

Some of the injured remained in critical condition on Sunday, police said at a news conference.

The street festival on Saturday was a family-friendly affair, with parents and children browsing street food stalls and attending traditional dance performances.

The Filipino community in the state of British Columbia has been left reeling, with the event organizers expressing “deep heartbreak brought on by this senseless tragedy” in a statement on Instagram. A vigil took place on Sunday evening, with photos showing crowds lighting candles and laying flowers near the site of the attack.

What have Filipino authorities said?

Authorities in both Canada and the Philippines have condemned the attack and shared their sympathies with the families affected.

Philippine President Ferdinand Marcos Jr. said those killed in the “unspeakable tragedy” would “not be forgotten,” and that Filipino diplomats and staff in Vancouver have been instructed to assist the victims and coordinate with the Canadian authorities.

The Philippine Consulate General in Vancouver also shared a statement on Instagram. “As we await more information about the incident, we pray that our community remains strong and resilient imbued with the spirit of bayanihan during this difficult time,” the consulate said, using the Tagalog word referring to the spirit of helping one another as a community, especially in times of need.

There are about 925,500 ethnic Filipinos in Canada, according to the latest national census in 2021. The Philippines is the second-largest source of immigrants to Canada, behind India.

The Filipino population in Canada is most densely concentrated in Manitoba province, followed by Alberta, Yukon, Saskatchewan and British Columbia.

What about the election?

The tragedy happened just days before Canada’s crucial federal election on Monday, raising fresh questions about public safety. In response, authorities have tried to soothe anxieties and voiced confidence in existing security plans.

“Our first priority is and will always be protecting the residents of Vancouver,” said Vancouver Mayor Ken Sim, stressing that Vancouver “is still a safe city” where a “vast majority” of events happen without incident. He had directed a full review of safety measures after the attack, he said.

Vancouver Police interim chief Steve Rai also said authorities had conducted a risk assessment prior to the festival, which was largely held on the grounds of a school that was not directly accessible through public roads.

He added that they found no “threats to the event or to the Filipino community,” and decided that police officers and heavy vehicle barricades would not be deployed on site.

“While I’m confident the joint risk assessment and public safety plan was sound, we will be working with our partners at the City of Vancouver to review all of the circumstances surrounding the planning of this event,” Rai said.

On Sunday, Canadian Prime Minister Mark Carney said he was “deeply heartbroken” over the attack, while stressing authorities do not believe there is any “active threat” to Canadians.

Conservative leader Pierre Poilievre, Carney’s chief rival in the election, also extended his condolences to the victims and their families.

This post appeared first on cnn.com

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