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Redline Communications gets $14 million in federal funding for industrial 5G project | iNFOnews

Redline Communications gets $14 million in federal funding for industrial 5G project | iNFOnews
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Most actively traded companies on the Toronto Stock Exchange

Most actively traded companies on the Toronto Stock Exchange by The Canadian Press Last Updated Apr 9, 2021 at 5:44 pm EDT TORONTO Some of the most active companies traded Friday on the Toronto Stock Exchange: Toronto Stock Exchange (19,228.03, down 0.84 of a point.)  The Supreme Cannabis Co. Inc. (TSX:FIRE). Health care. Up half a cent, or 1.27 per cent, to 40 cents on 28.5 million shares. The Toronto-Dominion Bank. (TSX:TD). Financials. Up 20 cents, or 0.24 per cent, to $82.88 on 9.7 million shares.  Trican Well Service Ltd. (TSX:TCW). Energy. Down four cents, or 1.91 per cent, to $2.05 on 4.1 million shares. I3 Energy Plc. (TSX:ITE). Energy. Down half a cent, or 2.86 per cent, to 17 cents on 3.9 million shares.

Government of Canada invests in next-generation wireless technology innovation for the industrial sector

Share this article Share this article Investment to help mining, utilities, and oil and gas sectors use 5G technology to improve safety and productivity MARKHAM, ON, April 9, 2021 /CNW/ - Technology is changing the way we live, work and engage with each other. While Canadians rely on wireless services for work, school and health care, digital technologies can also help make companies more productive and competitive. The Government of Canada understands the importance of bringing advanced wireless technology to all parts of the economy, including the industrial sector. Today, the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, announced an investment of $14 million in Redline Communications to produce next-generation telecommunications products that will help industries such as the mining, utilities, and oil and gas sectors make their operations safer and more productive.

Redline Communications gets $14 million in federal funding for industrial 5G project

The funds will support a $39.5 million Redline project that the company says will create or maintains 111 jobs and up to 13 co-op jobs. Redline s project will design high-speed wireless equipment to remotely monitor machinery for the mining, utility and oil and gas industries. The previously announced strategic innovation fund is designed to provide contributions of $10 million or more toward projects with total costs of at least $20 million. Redline, which trades on the Toronto Stock Exchange, is based in Markham, Ont. and has a market capitalization of about $9.3 million. This report by The Canadian Press was first published April 9, 2021. Companies in this story: (TSX:RDL)

Redline Communications gets $14-million in federal funding for industrial 5G project

Redline Communications gets $14-million in federal funding for industrial 5G project
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