We couldn't have said it better ourselves. Canada needs to focus on the North and will only succeed by, with, and through our Inuit Nations and communities.

"Canada must defend its own national security and sovereignty issues and should restore its standing as a valuable and respected contributor to our security alliances. With a focus on the Arctic and wise policy decisions we can do so while responsibly working in a true partnership with our own Inuit businesses and communities."

"As the war in Ukraine continues, Russia is refining its approach to sustain its technological edge. From reverse engineering to overcoming export controls, these evolving strategies present new risks that demand proactive countermeasures."

"The reshaping of the geopolitical landscape means that new actors, such as the private sector, have an increased role in countering adversarial nations."

Not to be dramatic, but this race will define our species. It will take a Whole of Society approach, public/private partnership, and a lot of money.

"We've seen throughout history that countries that are first to exploit periods of rapid technological change can often cause shifts in the global balance of power."

There are many other interesting and relevant recommendations in this report, including that Congress should repeal Permanent Normal Trade Relations (PNTR) for China, bolster export controls for dual-use technologies, and further support and arm Taiwain as a "NATO Plus" member.

It’s good to see a liquidity event in the defence marketplace. Seeds are bearing fruit and bringing some much needed change.

“The structure of the global defense sector is changing, and this transaction underscores that transformation ... The 2010s-2020s have seen a rise in new defense tech entrants, with capital provided by venture and private equity. BlueHalo is an example of that change.”

Who dares, wins … “O’Connor, one of three partners at the fund, is sanguine about the fact there is no guarantee the investments will work out. ‘We’ve been given a mandate to go take this risk’.”

We understand that Canada, a founding member of NATO, MIGHT become an LP sometime in 2025...

Facta non verba … In the meantime, ONE9 remains Canada’s first and only defence and security focused investors.

"Canada is about to receive a MAGA mauling."

Business-as-usual got us here; it's absurd to think that it will somehow save us.

“It is very hard to convince Canadians of the urgent need to raise defence spending ... thanks to our geography, we have felt safe from external threats, and politicians are not keen on making voters feel uncomfortable.”

"Canada’s role in supplying the commodity is made more urgent by Russia’s invasion of Ukraine, particularly for the US, which had relied heavily on Russian-supplied enriched uranium to fire up its commercial nuclear reactors ... Mr Curyer believes his mine could prove to be 'absolutely critical' to America’s nuclear energy future, as the US is now hunting for alternatives to Russia, including by ramping up exploration on its own soil."

"CSIS remains concerned over Beijing’s possible access to resource-rich areas or geopolitically important waterways and regions such as the Arctic through First Nations groups."

Don't hate the player(s), hate the game.

There's a reason First Nations groups are looking to an adversarial nation for money and markets. It's great that Canada has finally awoken to the threat in our backyard and North, but it must also come with money and real opportunity.

"[S]ome public servants in Ottawa still see defence spending as an unnecessary drain on resources, arguing that U.S. pressure is just bluster. This complacency is risky, even reckless. Canada’s allies — and adversaries — are paying close attention."

“For the first time in decades, America will produce TNT on its own soil."

This will be the first new production of TNT in the US since 1986.

Globalization is good...until it isn't.

"Even if the Trump administration is broadly supportive of defense spending, other campaign priorities could have negative impacts on the defense industry ... For instance, plans to enact a 20 percent tariff on all imported goods could result in financial pressure on defense contracts."

"Venture Capital has become increasingly important to the ecosystem — As the DIU has garnered success in funding numerous projects, and as the geopolitical environment has become more menacing, VCs — both institutional and corporate — have taken notice. This has led to a resurgence in venture investing in the defense tech sector, with over $70 billion deployed the past two years. The focus areas of investment have been broad, but the concentration has largely mirrored the priorities of the DIU, i.e., AI, Autonomy, Cyber and Space."