Press release

Fonds de solidarité FTQ Acquires Securities of mdf commerce Inc.

Investment made in connection with the company’s acquisition of the American company Periscope

Montréal, September 1, 2021 - The Fonds de solidarité FTQ announced today that pursuant to a private placement announced August 11, 2021, it acquired, on August 31, 2021, ownership and control over 3,587,667 subscription receipts (“Subscription Receipts”) issued by mdf commerce Inc. (the “Company”) for a price of $8 per Subscription Receipt for a total consideration of $28,701,336. That same day, the Fonds de solidarité FTQ exchanged the Subscription Receipts for 3,587,667 common shares of the Company. 

“The Fonds de solidarité FTQ is proud to support mdf commerce in its acquisition of the American company Periscope, a transformational step for the Longueuil company. The transaction will strengthen the Company’s leadership position in the public e-procurement market,” said Mark Giuliani, Vice-President, Investments, Services Sector, at the Fonds de solidarité FTQ.

Prior to the acquisition of the Subscription Receipts, the Fonds de solidarité FTQ owned and exercised control over 2,387,971 common shares of the capital stock of the Company, representing approximately 8.4% of the total number of issued and outstanding common shares.

Following the acquisition of the Subscription Receipts and their exchange for common shares and taking into account the exchange by other parties who acquired Subscription Receipts in the private placement announced on August 11, 2021, the Fonds de solidarité FTQ exercises ownership and control over 5,975,638 common shares of the Company’s capital stock, representing approximately 13.6% of the total number of issued and outstanding common shares.

The Subscription Receipts and common shares were acquired for investment purposes. This investment will be periodically reviewed and the holding may be increased or decreased, as necessary.

An early warning report will be filed on SEDAR ( under the Company’s profile. To request a copy of this report, please contact Liette Leduc at 514 916-5664. The Company’s head office is located at 1111 St-Charles St. West, East Tower, Suite 255, Longueuil, Québec J4K 5G4.


About the Fonds de solidarité FTQ

The Fonds de solidarité FTQ is investing for a better society by channelling the savings of its 723,501 shareholders into development and risk capital investments to help Québec transition to a green economy, to a human-centred world of work, and to a healthier society. The Fonds offers businesses unsecured financing and strategic support. With $17.2 billion in net assets as at May 31, 2021, the Fonds has supported 3,437 partner companies and 247,612 jobs. For more information, visit


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