On March 17, 2023, Taiga Motors Corporation, a leading electric off-road vehicle manufacturer, secured $40.15 million through a private placement of 10% secured convertible debentures due March 31, 2028. The debentures were subscribed by Northern Private Capital (NPC) for $25.15 million and Investissement Québec (IQ) for $15 million, with the investors having been granted an option to acquire an additional $10m of debentures The transaction, facilitated to support Taiga's production ramp-up, involved legal advisors Fasken Martineau DuMoulin LLP for the Special Committee, Norton Rose Fulbright Canada LLP for the Company, Goodmans LLP for NPC, and McCarthy Tétrault LLP for IQ. National Bank Financial Inc. provided financial advice. Additionally, Taiga granted NPC an option to subscribe for an additional $5 million in debentures, matched by IQ.

The private placement, negotiated on an arm's-length basis, aimed to strengthen Taiga's financial footing amid severe financial challenges, including supply chain issues and production delays. Taiga also applied for a Toronto Stock Exchange (TSX) exemption from shareholder approval, citing urgent financial needs. The funds are intended for immediate financial obligations, production expansion, and working capital. The debentures are convertible into common shares at $3.25 per share, with an annual interest rate of 10%, payable quarterly. The deal is expected to close around March 27, 2023, pending necessary approvals.