Business Watch

Legumex raises $13.5M

LEGUMEX Walker, Inc. has raised $13.5 million in a bought deal with underwriters just after closing its acquisition of Keystone Grain.

The new equity was priced at $7.75 a share. On Monday, it closed the acquisition of sunflower and flax processor Keystone Grain for $1.28 million in cash and 587,437 in shares.

Keystone's vendors also received 660,000 warrants at $9.50 a share, which expire in two years.

Shares in the Winnipeg-based specialty grain and canola crusher were down 47 cents on Tuesday to $7.83.

Prof. eyes innovation

DOUGLAS Buchanan, a professor in electrical and computer engineering at the University of Manitoba and a former scientist at IBM, has been named vice-president, commercialization at Innovate Manitoba.

Before joining the U of M in 2002, Buchanan spent 16 years working for IBM at the Thomas J. Watson Research Center and in the microelectronic division in New York State where he filed more than 25 U.S. patents. Buchanan has been seconded from the U of M (which will pay his salary) for a year.

In his new role, he will lead Innovate Manitoba's initiative to accelerate the commercialization of innovation in Manitoba.

Among other things, he says, more education about innovation is required throughout the community. He hopes to help come up with a cohesive commercialization strategy for all of the players in the province.

Innovate Manitoba is a non-profit organization with programs dedicated to linking researchers, inventors and entrepreneurs to the resources they need to succeed. The idea is for it to become an integrated hub for all innovation-related activities in Manitoba, focused on accelerating innovation and commercialization.

AirCan launches carrier

MONTREAL -- Air Canada is combining its tour-operator business Air Canada Vacations with a new low-cost carrier to create an integrated leisure group that will take flight in June.

Michael Friisdahl, former CEO of Thomas Cook North America, has been appointed to lead the new unnamed subsidiary. He will report to Air Canada's chief commercial officer Ben Smith.

Details about the carrier's name, schedule and product offering will be disclosed later this fall when Air Canada releases its 2013 schedule.

Samsung ban lifted

SAN JOSE, Calif. -- A federal judge has lifted a ban on sales of Samsung Electronics Corp.'s Galaxy 10.1 tablet computer.

U.S. District Judge Lucy Koh ruled Monday the South Korean technology giant is now free to start selling the product in American stores.

The judge had previously banned U.S. sales of the tablet pending the resolution of a sweeping patent trial between Apple Inc. and Samsung over vital technology used in smartphones and tablet computers.

A jury in September ordered Samsung to pay Apple $1 billion after finding many of Samsung's products illegally used technology developed by Apple for its iPhones and iPads.

But the jury found Samsung's Galaxy 10.1 wasn't one of the offending products. The judge scheduled a December hearing to consider Samsung's demand for a new trial.

EU trade deal on track

OTTAWA -- Trade Minister Ed Fast says he believes a comprehensive trade deal with the European Union is achievable by year's end and he has been assured Quebec's new government remains on side.

The minister, who talked with Quebec's finance and international relations ministers by phone last week, said he was assured the separatist-minded Parti Québécois government desires a trade deal with the European Union.

As well, the PQ has decided to retain Pierre Marc Johnson, who was named by the previous Liberal regime as the province's chief negotiator at the talks.

LinkedIn adds advice

SAN FRANCISCO -- LinkedIn is adding more expert advice to its website and making it easier for its users to find their pearls of wisdom.

The online professional networking service hopes the proffered tips and advice will help it extend its clout beyond the help-wanted market.

The new feature added Tuesday will encourage LinkedIn's more than 175 million members to sign up to follow the musings of "influencers" -- a 150-person panel that includes U.S. President Barack Obama, business moguls, Internet bloggers, self-help gurus and entrepreneurs.

-- from staff, the news services

Republished from the Winnipeg Free Press print edition October 3, 2012 B7