Tracked deals
151
151 tracked deals across 2019-2026.
Who's Buying Energy Companies in Canada
Buyer mix
Strategic-led
139 strategic · 45 pe
Top trend
Volume peaked in 2026
54 tracked deals announced in 2026.
Primary Insight
What Stands Out
- Strategic metals & energy adjacencies: Uranium and critical minerals show up alongside power and biofuel, including Myriad Uranium Corp., Moltex Energy, and Clean Air Metals-linked activity.
- Renewables and storage: Alberta-based solar-plus-storage and black pellet production investment illustrate continued attention to power generation and decarbonization supply chains.
- Nuclear tech portfolio acquisitions: Nuclea Energy’s agreement to acquire the Moltex advanced nuclear technology portfolio underscores interest in waste-to-fuel approaches.
- Financing alongside dealmaking: Several items feature commercialization or project financing (e.g., used motor oil recycling and a $135M biofuel facility financing).
- Geographic clustering by province: Alberta and Ontario are particularly prominent in the most recent entries, with additional activity in British Columbia, New Brunswick, and Newfoundland and Labrador.
| Province/Region | Examples from recent deals |
|---|---|
| Alberta, Canada | Solar-plus-storage sale; used motor oil recycling funding; black pellet facility investment |
| Ontario, Canada | Uranium-adjacent/mineral deals; biofuel project financing |
| British Columbia, Canada | Court-approved uranium-related acquisition; equity/combination activity |
| New Brunswick / Newfoundland & Labrador | Nuclear technology portfolio; renewable ownership stake increase |
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Top Buyers
Illustrative buyers pulled from tracked transactions on this page. This table is capped and intentionally non-exhaustive.
| Buyer | # Deals | Focus | Type |
|---|---|---|---|
| Agnico Eagle Mines Limited | 5 | Senior Canadian gold mining company operating mines and e... | Strategic |
| RESA Power, LLC | 3 | Provider of mission-critical power systems services, tran... | Strategic (PE-backed) |
| Uranium Energy Corp | 3 | U.S.-based publicly traded uranium mining company focused... | Strategic |
| ARC Financial Corp. | 2 | Financial firm that will roll a portion of its KEC shares... | PE |
| Altius Minerals Corporation | 2 | Diversified royalty company that acquires and manages min... | Strategic |
| CMOC Group Limited | 2 | China-based commodities producer and major producer of co... | Strategic |
| Canada Growth Fund Inc. | 2 | Canadian clean-economy investment vehicle managed by CGF ... | PE |
| Hudbay Minerals Inc. | 2 | Copper-focused integrated mining company operating mines ... | Strategic |
| Ian Bruce | 2 | Individual investor and former president and CEO of Peter... | Investor |
| Kohlberg | 2 | Middle-market private equity firm investing in healthcare... | PE |
Acquisition Volume in Energy in Canada by Year
Last 8 years
Actual
Full-year estimate
Supporting Data
Recent Transactions
-
August 28, 2026
- Target
- Red Willow Solar Inc.
- Seller
- Westbridge Renewable Energy S.A.
- Industry
- Energy
- Location
- Alberta, Canada
- Type
- Divestiture
Westbridge Renewable Energy S.A. has entered into a definitive share purchase agreement to sell its wholly-owned subsidiary, Red Willow Solar Inc., which holds the Red Willow utility-scale solar-plus-storage project in Alberta. The transaction will provide Westbridge with upfront cash at closing plus milestone payments, with total receivables targeted at CAD $26.725 million if conditions are met.
-
August 20, 2026
- Buyer
- Rice Investment Group, Canada Growth Fund Inc.
- Target
- EnerPure Inc.
- Industry
- Energy
- Location
- Alberta, Canada
- Type
- Growth capital
EnerPure Inc. has closed a US$35 million all-equity commercialization financing led by Rice Investment Group, with Canada Growth Fund Inc. participating as a co-investor. The funding will support development and construction of EnerPure’s first commercial used motor oil recycling plant in Alberta, including work needed to advance additional North American deployment.
-
August 19, 2026
- Buyer
- Myriad Uranium Corp.
- Target
- Rush Rare Metals Corp.
- Industry
- Energy
- Location
- British Columbia, Canada
- Type
- Buyout
Myriad Uranium Corp. received final court approval from the Supreme Court of British Columbia for a statutory plan of arrangement under which Myriad will acquire all issued and outstanding common shares of Rush Rare Metals Corp. The deal consideration includes Myriad shares issued to Rush shareholders, and a concurrent spin-out of the Boxi Property into Rush Spinco.
-
- Buyer
- Nuclea Energy Inc., Nuclea Energy Canada Inc.
- Target
- Moltex Energy advanced nuclear technology portfolio, Moltex Energy Canada
- Seller
- Moltex Energy Limited
- Industry
- Energy
- Location
- New Brunswick, Canada
- Type
- Buyout
Moltex Energy announced that Nuclea Energy has entered into a definitive agreement to acquire Moltex’s advanced nuclear technology portfolio following a competitive bidding process. The portfolio includes Moltex’s Waste to Stable Salt (WATSS) used nuclear fuel recycling process and related reactor technologies (SSR-W and FLEX), with completion subject to closing conditions including UK National Security and Investment Act 2021 approval.
-
August 4, 2026
- Buyer
- Chair Capital Ltd
- Target
- Power Wood Holdings Ltd, Power Wood Canada Corp
- Industry
- Energy
- Location
- Alberta, Canada
- Type
- Growth capital
Power Wood Holdings Ltd agreed terms for an investment of up to CA$84 million to develop two advanced steam explosion black pellet production facilities in Northern Alberta, including the “Peace River” and “Hay Meadow” plants. The funding comes in tranches from London-based private investment firm Chair Capital Ltd and is subject to evidence of third-party construction financing and completion of definitive documentation.
-
- Buyer
- Mangoceuticals
- Target
- Nuclea Energy
- Industry
- Energy
- Location
- British Columbia, Canada
- Type
- Growth capital
Nuclea Energy entered into a definitive business combination agreement with publicly traded Mangoceuticals to pursue a Nasdaq listing. The deal will be implemented through a newly formed indirect subsidiary of Mangoceuticals amalgamating with Nuclea, with former Nuclea shareholders expected to own about 96% of Mangoceuticals before a planned private investment.
-
July 31, 2026
- Buyer
- Zijin Gold International
- Target
- Allied Gold Corporation
- Industry
- Energy
- Location
- Ontario, Canada
- Type
- Growth capital
Allied Gold and Zijin Gold International terminated their previously announced acquisition agreement after concluding that closing conditions were unlikely to be satisfied by the July 29, 2026 deadline. Instead, Zijin will invest approximately $295 million in Allied Gold via a non-brokered private placement, acquiring about 12.8 million shares and taking an approximately 9.2% ownership stake.
-
July 31, 2026
- Buyer
- Clean Air Metals Inc. (resulting issuer via amalgamation), Springbok Ventures Inc. (Fiore-backed investor; becomes shareholders of resulting issuer)
- Target
- Springbok Ventures Inc.
- Industry
- Energy
- Location
- Ontario, Canada
- Type
- Buyout
Clean Air Metals Inc. (via wholly owned subsidiary Newco) and Springbok Ventures Inc. entered into an amalgamation agreement to complete a business combination that will create a new critical minerals-focused public company (expected to be renamed Dante Metals Corp.). The resulting issuer will advance Clean Air Metals’ Thunder Bay North Critical Minerals Project and continue exploration with Springbok’s Maude Lake Property, with a concurrent C$5 million minimum financing through subscription receipts subject to TSX Venture Exchange and shareholder approvals.
-
July 31, 2026
- Buyer
- Lightning Resource Corp. (formerly BeMetals Corp.)
- Target
- Lightning Exploration Corp. (formerly Prospector Subco Ltd.) (Subco)
- Seller
- Prospector Metals Corp. (via its wholly-owned subsidiary Subco / Lightning Exploration Corp., formerly Prospector Subco Ltd.)
- Industry
- Energy
- Location
- British Columbia, Canada
- Type
- Buyout
Prospector Metals Corp and Lightning Resource Corp agreed to extend both the escrow deadline and the outside date for completing their previously announced asset acquisition transaction. The transaction, under a share purchase agreement dated April 15, 2026, involves BeMetals acquiring all shares of Lightning Exploration Corp.’s (formerly Prospector Subco Ltd.) wholly owned subsidiary, Lightning Exploration Corp. (Subco), which will hold Prospector’s remaining viable non-Yukon mineral exploration projects, with key deadlines extended to August 31, 2026.
-
July 31, 2026
- Buyer
- Power Sustainable Infrastructure Credit (PSIC)
- Target
- Convertus Group
- Industry
- Energy
- Location
- Ontario, Canada
- Type
- Growth capital
Convertus Group secured a successful financial close of $135 million in project financing for its flagship biofuel facility in York Region, Ontario. The financing comes from Power Sustainable Infrastructure Credit (PSIC), with Selkirk Advisory Group serving as financial advisor.
-
- Buyer
- Altius Minerals Corporation, Northampton Capital Partners
- Target
- Great Bay Renewable Holdings, LLC, Great Bay Renewable Holdings II, LLC, Altius Renewable Royalties Corp.
- Seller
- Funds managed by affiliates of Apollo
- Industry
- Energy
- Location
- Newfoundland and Labrador, Canada
- Type
- Buyout
Altius Minerals Corporation closed a transaction to increase its effective ownership interest in Great Bay Renewable Holdings, LLC and Great Bay Renewable Holdings II, LLC (collectively, "GBR") from 29% to 50%. Funds managed by affiliates of Apollo sold their membership interests in GBR to Northampton Capital Partners, and Northampton simultaneously sold its interest in Altius Renewable Royalties Corp. to Altius—resulting in Apollo funds having no continuing interest in GBR.
-
July 24, 2026
- Buyer
- Agnico Eagle Mines Limited
- Target
- Cadillac Mines Corporation
- Industry
- Energy
- Location
- Ontario, Canada
- Type
- Growth capital
Agnico Eagle Mines Limited entered into a subscription agreement to acquire 8,696,000 common shares of Cadillac Mines Corporation in a C$60.0 million private placement at C$6.90 per share. The investment is subject to closing conditions, including completion of Cadillac’s initial public offering, and is expected to close around August 5, 2026.
-
July 20, 2026
- Buyer
- Undisclosed Southeast Asian energy conglomerate (corporate investor)
- Target
- Greenridge Exploration Inc.
- Industry
- Energy
- Location
- Canada
- Type
- Growth capital
Greenridge Exploration Inc. (CSE: GXP) secured a $3.0 million non-brokered private placement from an undisclosed Southeast Asian energy conglomerate. The investor will acquire about a 17.17% stake via 13,111,888 units and receives board observer privileges and pro rata rights for future financings to help Greenridge accelerate Canadian uranium, gold, and nickel exploration.
-
July 14, 2026
- Buyer
- Woodbridge Ventures II Inc.
- Target
- Greenflame Resources Inc.
- Industry
- Energy
- Location
- Canada
- Type
- Buyout
Woodbridge Ventures II Inc. has entered into an amending agreement to modify its previously announced business combination agreement with 2771367 Alberta Ltd. (Subco) and Greenflame Resources Inc. The amendment extends the outside date for completion to December 31, 2026 and updates the contemplated private placement of Greenflame shares and the definition of “Greenflame Options.”
-
- Buyer
- Greenfire Resources Ltd.
- Target
- Connacher Oil and Gas Limited
- Industry
- Energy
- Location
- Alberta, Canada
- Type
- Buyout
Greenfire Resources Ltd. entered into a definitive agreement to acquire all issued and outstanding shares of Connacher Oil and Gas Limited for approximately C$1.277 billion in cash. The transaction is expected to close in August 2026 and will be financed through a mix of upsized reserves-based debt and a C$575 million bridge facility to be repaid via a planned rights offering supported by Waterous Energy Fund.
-
- Buyer
- GrandBridge Corporation
- Target
- VCT Group Inc.
- Industry
- Energy
- Location
- Ontario, Canada
- Type
- Growth capital
GrandBridge Corporation, a municipally owned investment holding company, made a strategic investment in VCT Group Inc. to support VCT Group’s continued growth across commercial solar, EV charging, and operations and maintenance (O&M) in North America. The investment will fund product development and remote monitoring systems while VCT Group’s existing leadership team remains in place.
-
- Buyer
- Morgan Stanley Infrastructure Partners (MSIP), Pembina Pipeline Corporation, Kineticor Asset Management
- Target
- Greenlight Electricity Centre
- Industry
- Energy
- Location
- Alberta, Canada
- Type
- Growth capital
Funds managed by Morgan Stanley Infrastructure Partners (MSIP) invested in the Greenlight Electricity Centre, a 932-megawatt gas-fired combined cycle power generation project in Sturgeon County, Alberta. MSIP is investing alongside Pembina Pipeline Corporation and Kineticor Asset Management, with Pembina and MSIP each taking a 47.5% ownership stake and Kineticor taking the remaining 5%.
-
July 2, 2026
- Buyer
- Cameco Corporation, Orano Canada Inc.
- Target
- TEPCO Resources Inc.
- Seller
- TEPCO Resources Inc.
- Industry
- Energy
- Location
- Saskatchewan, Canada
- Type
- Addon
Cameco and Orano Canada agreed to acquire TEPCO Resources’ 5% participating interest in the Cigar Lake Joint Venture, lifting Cameco’s stake to 57.418% and Orano’s to 42.582% after closing. The transaction was valued at about C$115.75 million and was completed in July 2026.
-
- Buyer
- ARC Financial Corp.
- Target
- TERIC Power Ltd.
- Industry
- Energy
- Location
- Alberta, Canada
- Type
- Growth capital
ARC Financial Corp. has completed a strategic investment in TERIC Power Ltd. to support the company’s next phase of growth and expansion. The capital will be used to accelerate development, construction, and ownership of utility-scale battery energy storage projects across Canada.
-
June 23, 2026
- Buyer
- Williams Treaties First Nations
- Target
- Ontario Power Generation’s Darlington New Nuclear Project (DNNP)
- Industry
- Energy
- Location
- Ontario, Canada
- Type
- Growth capital
The Williams Treaties First Nations announced a landmark C$700 million investment to support Ontario Power Generation’s Darlington New Nuclear Project (DNNP), including Canada’s first grid-scale Small Modular Reactor (SMR). The Nations’ participation is supported through a loan guarantee backed by the Canadian Indigenous Loan Guarantee Corporation (CILGC) and a 50% participation guarantor role by the Province of Ontario.
-
- Buyer
- Eurizon Capital SGR S.p.A.
- Target
- Agnico Eagle Mines Limited
- Industry
- Energy
- Location
- Ontario, Canada
- Type
- Growth capital
Eurizon Capital SGR S.p.A. acquired 13,721 shares of Agnico Eagle Mines Limited (Agnico Eagle) in the fourth quarter, adding a new position worth about $2.35 million. The filing-based report describes the transaction as part of an equity position build by the investor rather than a corporate acquisition of the company.
-
May 27, 2026
- Buyer
- Chicane Capital I Corp.
- Target
- Elton Resources Corp.
- Industry
- Energy
- Location
- British Columbia, Canada
- Type
- Buyout
Chicane Capital I Corp. (a TSX Venture “capital pool company”) and Elton Resources Corp. entered into a binding definitive merger agreement for an arm’s-length reverse-takeover transaction. Upon completion, the resulting issuer will carry on Elton’s business and is expected to rename as Elton Resources Corp., subject to private placement financing and customary regulatory/stock exchange approvals.
-
- Buyer
- Outcrop Silver & Gold Corporation
- Target
- Applied Graphite Technologies Corporation
- Industry
- Energy
- Location
- British Columbia, Canada
- Type
- Growth capital
Outcrop Silver & Gold Corporation acquired 15,000,000 common shares of Applied Graphite Technologies Corporation in a share exchange transaction that closed on May 22, 2026. The acquisition gives Outcrop Silver beneficial ownership and control over approximately 17.87% of Applied Graphite Technologies’ issued and outstanding shares.
-
May 12, 2026
- Buyer
- Canada Growth Fund Inc.
- Target
- Sayona Inc.
- Industry
- Energy
- Location
- Québec, Canada
- Type
- Growth capital
Canada Growth Fund (CGF), managed by CGF Investment Management (CGFIM) and a subsidiary of PSP Investments, announced a commitment of up to C$145 million via convertible notes in Sayona Inc., a wholly-owned Canadian subsidiary of Elevra Lithium Limited. The financing is part of a larger ~C$417 million capital raise and will support a staged brownfield expansion of the North American Lithium mine in La Corne, Québec.
-
- Buyer
- Shell plc, Shell Canada Limited
- Target
- ARC Resources Ltd., ARC Resources Ltd (ARC)
- Industry
- Energy
- Location
- Alberta, Canada
- Type
- Buyout
Shell plc entered into a definitive agreement to acquire ARC Resources Ltd. in a cash-and-share transaction valued at about $13.6 billion equity value (approximately $16.4 billion enterprise value including assumed net debt and leases). The deal will add about 370,000 boe/d immediately and strengthen Shell’s integrated gas and LNG ambitions through expanded Montney assets in British Columbia and Alberta, with expected closing in the second half of 2026.
-
- Buyer
- Apollo Global Management
- Target
- Pembina Gas Infrastructure Inc. (PGI)
- Seller
- Funds managed by KKR 26 Co. Inc.
- Industry
- Energy
- Location
- Alberta, Canada
- Type
- Growth capital
Apollo Global Management is set to acquire a 40% stake in Pembina Gas Infrastructure Inc. (PGI), a Western Canadian natural gas processing and gathering platform. The stake is being purchased from funds managed by KKR, while Pembina Pipeline Corporation will retain 60% ownership and remain the majority partner with ongoing operational oversight.
-
April 16, 2026
- Buyer
- Fairfax Financial Holdings Limited
- Target
- CVW Sustainable Royalties Inc.
- Seller
- Shareholders of CVW Sustainable Royalties Inc. (approved the required special resolution)
- Industry
- Energy
- Location
- Alberta, Canada
- Type
- Growth capital
CVW Sustainable Royalties has closed Fairfax Financial Holdings Limited’s previously announced $50.0 million strategic investment into the company. The funding was structured through Fairfax purchasing voting and newly created non-voting common share units, along with warrants, and is intended to support CVW’s sustainability-focused royalty pipeline and related transaction costs.
-
April 14, 2026
- Buyer
- OR Royalties Inc., Ocean Partners UK Limited
- Target
- Canadian Copper Inc., Murray Brook Project and Caribou Process Plant (Bathurst Complex)
- Industry
- Energy
- Location
- New Brunswick, Canada
- Type
- Growth capital
Canadian Copper Inc. announced committed project financing of up to C$96 million to advance its 100%-owned Murray Brook Project and Caribou Process Plant (Bathurst Complex) in Bathurst, New Brunswick. The financing includes a 20% life-of-mine payable precious metals stream with OR Royalties Inc. and up to C$48 million of project debt/off-take related arrangements with Ocean Partners UK Limited, alongside additional OR and Ocean Partners equity subscriptions.
-
- Buyer
- North Hudson Resource Partners LP
- Target
- Hawthorne Energy LLC (HWN Energy Ltd. / HWN)
- Industry
- Energy
- Location
- Alberta, Canada
- Type
- Buyout
North Hudson Resource Partners LP (and affiliated funds) acquired Hawthorne Energy LLC, operating in Canada through wholly owned subsidiary HWN Energy Ltd. The deal excludes a subset of HWN’s southern Cardium-focused assets that were spun out prior to close. HWN will continue to be led by its existing management team, including CEO John Oberg and SVP of Engineering Marc Shatzer.
-
- Buyer
- Vanguard Mining Corp.
- Target
- Quark Uranium Ltd.
- Seller
- Shareholders of Quark Uranium Ltd.
- Industry
- Energy
- Location
- Saskatchewan, Canada
- Type
- Buyout
Vanguard Mining Corp. has entered into a share exchange agreement to acquire 100% of Quark Uranium Ltd. through an arm’s-length transaction. Consideration will include the issuance of 8,000,000 Vanguard common shares and aggregate cash payments of C$200,000, subject to customary closing conditions.
-
- Buyer
- Eni
- Target
- Nouveau Monde Graphite Inc.
- Industry
- Energy
- Location
- Quebec, Canada
- Type
- Growth capital
Eni agreed to acquire a minority stake in Canadian natural graphite producer Nouveau Monde Graphite in a $70 million investment. The deal is part of a larger capital increase at Nouveau Monde Graphite and is intended to secure access to critical graphite for battery storage and Eni’s stationary lithium battery gigafactory initiative in southern Italy.
-
April 9, 2026
- Buyer
- Predictive Discovery Limited (PDI), 9548-5991 Québec Inc. (Acquireco)
- Target
- Robex Resources Inc. (Robex)
- Industry
- Energy
- Location
- Quebec, Canada
- Type
- Buyout
Predictive Discovery Limited (PDI) acquired all issued and outstanding shares of Robex Resources Inc. (Robex) via a Quebec statutory plan of arrangement. Robex shareholders (and Robex CDI holders) received 7.862 newly issued PDI shares for each Robex share/CDI as the deal completed on 15 April 2026. The combined company is targeting production of more than 400,000 ounces of gold per annum by 2029, anchored by PDI’s Bankan Project and Robex’s Kiniero Project.
-
April 9, 2026
- Buyer
- Canada Growth Fund Inc. (CGF), Eni S.p.A., Investissement Québec (IQ), Export Development Canada (EDC), Canada Infrastructure Bank (CIB)
- Target
- Nouveau Monde Graphite Inc.
- Industry
- Energy
- Location
- Quebec, Canada
- Type
- Growth capital
Canada Growth Fund Inc. (CGF) entered into a definitive agreement for an approximately US$82 million private placement to support the construction and phased development of Nouveau Monde Graphite Inc.’s flagship Matawinie Mine and related refining facility. The equity financing is part of a larger ~US$633 million package and will be complemented by investments from Eni S.p.A. and Investissement Québec, as well as a concurrent bought-deal public offering of subscription receipts.
-
- Buyer
- Pattern Energy Group (Pattern Energy), Canada Pension Plan Investment Board (CPP Investments)
- Target
- Cordelio Power
- Industry
- Energy
- Location
- Ontario, Canada
- Type
- Buyout
Pattern Energy Group completed its acquisition of Cordelio Power, an independent power producer with operations and development in Canada and the United States. The deal adds about 1,550 MW of operating and in-construction wind, solar, and energy storage projects and Cordelio’s majority development pipeline in key U.S. markets.
-
- Buyer
- Brookfield, La Caisse de dépôt et placement du Québec, Brookfield Renewable Partners
- Target
- Boralex Inc.
- Industry
- Energy
- Location
- Québec, Canada
- Type
- Buyout
Brookfield Asset Management, alongside La Caisse de dépôt et placement du Québec, entered into a definitive arrangement agreement to acquire all issued and outstanding Class A common shares of Boralex for C$37.25 per share in cash. The transaction values Boralex at an implied enterprise value of about C$9.0 billion (C$9.7 billion on a combined basis) and is expected to close by Q4 2026, subject to approvals.
-
S&P Global completed its acquisition of Enertel AI Corporation, an AI-driven company focused on short-term power price forecasting for North American electricity markets. The deal adds real-time, AI-powered nodal forecasting capabilities to S&P Global Energy’s existing long-term market intelligence, supporting customers such as physical power traders, utilities, and asset operators.
-
March 10, 2026
- Buyer
- Parex Resources Inc.
- Target
- Frontera Energy Corporation (Colombian upstream E&P business / Frontera E26P; Frontera E&P Assets), Frontera Petroleum International Holdings B.V. (Frontera E&P)
- Industry
- Energy
- Location
- Alberta, Canada
- Type
- Buyout
Parex Resources entered into a definitive arrangement agreement to acquire Frontera Energy’s upstream Colombian exploration and production business (Frontera E&P Assets) for $500 million cash at closing plus a $25 million contingent payment, valuing the deal at approximately $750 million including assumed debt. The transaction was structured as a plan of arrangement under British Columbia law and closed on June 1, 2026, with Frontera transitioning to a standalone infrastructure company and distributing capital back to shareholders.
-
- Buyer
- Lycos Energy Inc.
- Target
- Mahikan Oil Corporation
- Industry
- Energy
- Location
- Alberta, Canada
- Type
- Buyout
Lycos Energy Inc. entered into a definitive, all-share strategic business combination to acquire Mahikan Oil Corporation for approximately $49.7 million, including assumed net debt. The transaction was expected to close on or before March 31, 2026, and Mahikan would become a wholly owned subsidiary of Lycos.
-
- Buyer
- Svante Technologies Inc., Svante Development Inc.
- Target
- Carbon Alpha Corporation, Carbon Alpha Development Corp., North Star Carbon Solutions Corp., North Star Carbon Solutions Limited Partnership
- Industry
- Energy
- Location
- Alberta, Canada
- Type
- Buyout
Svante Technologies has acquired Calgary-based Carbon Alpha Corporation and its related subsidiaries, including its ownership interests in North Star Carbon Solutions entities. The acquisition brings Carbon Alpha’s flagship North Star Bioenergy Carbon Capture and Storage (BECCS) project—developed with the Meadow Lake Tribal Council (MLTC)—into Svante’s business unit portfolio.
-
- Buyer
- Hudbay Minerals Inc.
- Target
- Arizona Sonoran Copper Co. Inc.
- Industry
- Energy
- Location
- Canada
- Type
- Buyout
Hudbay Minerals Inc. has signed a deal to acquire Arizona Sonoran Copper Co. Inc. in an all-stock transaction valued at about US$1.48 billion. Hudbay will pay 0.242 of a Hudbay share for each Arizona Sonoran share it does not already own, combining Arizona Sonoran’s Cactus project with Hudbay’s existing Arizona assets.
-
- Buyer
- Aero Energy Limited
- Target
- Urano Energy Corp., Pegasus Resources Inc.
- Industry
- Energy
- Location
- British Columbia, Canada
- Type
- Buyout
Aero Energy Limited entered into definitive arrangement agreements to acquire all issued and outstanding common shares of Urano Energy Corp. and Pegasus Resources Inc. in order to form Manhattan Uranium Discovery Corp. The transactions are expected to close in late May 2026 and will be implemented via separate plans of arrangement under the Business Corporations Act (British Columbia).
-
- Buyer
- Future Fuels Inc., 1564470 B.C. Ltd.
- Target
- Hatchet Uranium Corp.
- Seller
- ValOre Metals Corp.
- Industry
- Energy
- Location
- British Columbia, Canada
- Type
- Buyout
Future Fuels Inc. completed its acquisition of Hatchet Uranium Corp. (HUC) through a three-cornered amalgamation under an amended amalgamation agreement. The acquired asset is a district-scale uranium exploration portfolio totaling about 97,674 hectares across five project areas (Hatchet Lake, Highway, CBX/Shoe, Usam, and Genie) in northern Saskatchewan, with the amalgamated entity continuing as a wholly-owned subsidiary of Future Fuels under the name Future Fuels Athabasca Inc.
-
February 17, 2026
- Buyer
- Agnico Eagle Mines Limited
- Target
- Maple Gold Mines Ltd.
- Industry
- Energy
- Location
- British Columbia, Canada
- Type
- Growth capital
Agnico Eagle Mines Limited purchased 662,780 common shares of Maple Gold Mines Ltd. at C$2.45 per share for total consideration of C$1,623,811, increasing its stake in Maple to approximately 12.98% on a non-diluted basis. The investment was made from several sellers who participated in a flow-through offering and is part of Agnico Eagle's strategy to acquire strategic positions in prospective exploration opportunities.
-
February 13, 2026
- Buyer
- Snow Lake Resources Ltd. (d/b/a Snow Lake Energy)
- Target
- Global Uranium and Enrichment Limited (GUE)
- Industry
- Energy
- Location
- Manitoba, Canada
- Type
- Buyout
Snow Lake Resources Ltd. (d/b/a Snow Lake Energy) has completed its acquisition of Global Uranium and Enrichment Limited (GUE). The deal expands Snow Lake’s U.S. uranium exploration and development portfolio (including the Pine Ridge project in Wyoming and additional projects in Colorado) and adds strategic exposure to uranium enrichment via Ubaryon and SMR development via Kadmos Energy.
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February 12, 2026
- Buyer
- Gold Candle Ltd.
- Target
- Fokus Mining Corporation
- Industry
- Energy
- Location
- Quebec, Canada
- Type
- Buyout
Gold Candle Ltd. has entered into a definitive arrangement to acquire Fokus Mining Corporation in an all-cash transaction valued at an implied equity value of about CAD 65 million. The deal will add Fokus’s inferred gold resources (about 1.4 million ounces) and roughly 15,988 hectares of land in Quebec’s Abitibi region, with closing expected in Q2 2026 subject to approvals.
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February 10, 2026
- Buyer
- LG Energy Solution
- Target
- NextStar Energy
- Seller
- Stellantis
- Industry
- Energy
- Location
- Ontario, Canada
- Type
- Buyout
LG Energy Solution will acquire full ownership of NextStar Energy in Windsor, Ontario by buying Stellantis’ 49% equity stake. The transaction is subject to approvals and other customary closing conditions. Stellantis will continue to source battery products from NextStar Energy.
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February 3, 2026
- Buyer
- Ovintiv Inc., Ovintiv Canada ULC
- Target
- NuVista Energy Ltd.
- Industry
- Energy
- Location
- Alberta, Canada
- Type
- Buyout
Ovintiv completed its acquisition of all common shares of NuVista Energy Ltd. in a cash-and-stock transaction valued at about $2.7 billion. The deal adds roughly 140,000 net acres and about 930 net 10,000-foot equivalent well locations in the oil-rich Alberta Montney, with expected 2026 production averaging about 100 MBOE/d.
-
- Buyer
- RESA Power, Kohlberg
- Target
- Société Générale d'Électrotechnique (SGE)
- Industry
- Energy
- Location
- Quebec, Canada
- Type
- Addon
RESA Power, a portfolio company of Kohlberg, has acquired Québec City-based Société Générale d'Électrotechnique (SGE), adding in-house engineering and Canadian manufacturing of medium- and high-voltage power transformers. The deal expands RESA Power's footprint into Quebec and broadens its electrical construction, testing, and transformer capabilities as part of a strategy to build regional hubs across Canada.
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January 27, 2026
- Buyer
- Altius Minerals Corporation
- Target
- Lithium Royalty Corp.
- Industry
- Energy
- Location
- Ontario, Canada
- Type
- Buyout
Altius Minerals Corporation entered into a definitive plan-of-arrangement agreement to acquire all outstanding shares of Lithium Royalty Corp. for total consideration of approximately C$520 million (C$9.50 per LRC share), payable at shareholders’ election as cash, Altius shares, or a mix subject to proration. The transaction is court- and shareholder-approval subject and is currently expected to close around March 2026.
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January 26, 2026
- Buyer
- Fresnillo plc
- Target
- Probe Gold Inc.
- Seller
- Probe Gold shareholders (including certain directors/officers and other selling shareholders such as Eldorado Gold Corporation)
- Industry
- Energy
- Location
- Ontario, Canada
- Type
- Buyout
Fresnillo plc completed an all-cash acquisition of Probe Gold Inc. for approximately C$780 million (C$3.65 per share), closing on 22 January 2026. The deal gives Fresnillo ownership of Probe’s Novador project in the Val d'Or district (Quebec), expanding Fresnillo’s geographic footprint and gold resource base in Canada.
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Frequently Asked Questions
What kinds of energy deals are featured in Canada?
Recent entries span renewables, advanced nuclear technology, biofuels and recycling, and mining-linked critical minerals—often structured as acquisitions, equity investments, or project/commercialization financing.
Which Canadian provinces appear most often in the latest transactions?
The most recent items highlight Alberta and Ontario, with additional activity noted in British Columbia, New Brunswick, and Newfoundland and Labrador.
Are these transactions only M&A, or do they include financing?
Financing shows up alongside acquisitions, including commercialization financing for energy facilities and project financing for a biofuel facility.
Do some deals require regulatory or court approvals?
Yes. For example, a uranium-related transaction in British Columbia references final court approval, and a nuclear technology portfolio acquisition notes that closing is subject to approvals and conditions including UK National Security and Investment Act 2021 approval.