Press Release

Newly formed BIG North Capital Inc. begins revitalization of Northern Ontario housing. 

Toronto, Ontario – [Tuesday, January 28, 2025] – One year after bankruptcy proceedings began for the owners of a now defunct real estate empire, a new company, BIG North Capital Inc., has been founded and is proud to announce it has joined the communities of Sault Ste. Marie, Sudbury, Timmins and Kirkland Lake through the acquisition of 189 residential rental properties. This first milestone highlights BIG North Capital’s long-term commitment to providing quality housing and fostering positive change in the region. 

“We are thrilled to be a part of these communities and look forward to making a positive impact,” said Dan Uszynski, President of BIG North Capital. “We recognize that housing availability is a significant issue. Our goal is to provide quality housing options for families and to become a contributing member of the community.”

The residential rental units that make up BIG North Capital’s portfolio were previously owned by a group of companies that entered creditor protection in early 2024. In June a court-appointed monitor released a court-ordered report into the conduct of those companies, the findings of which helped trigger numerous lawsuits and the opening of an investigation by the Ontario Provincial Police Economic Crime and Corruption Unit: Anti-Racket branch. 

Initial inspections of the rental units that BIG North Capital will operate range from high quality, tenanted housing to empty structures at risk of being demolished. “Our immediate priorities have been to ensure the smooth transition from the previous property management company for current tenants and to inspect our 96 vacant units to form renovation plans so we can put them up for rent.” said John Alegrias, Vice President of Real Estate Operations at BIG North Capital. “We have a lot of work to do and look forward to a long term, positive partnership with the local government, contractors, and other local stakeholders to ensure our projects align with the needs of our community partners.”

BIG North Capital Inc. was formed in December 2024 by 177 everyday Canadians who united after being victims of a now defunct real estate investing scheme. Together, they are transforming adversity into opportunity, emerging as a syndicated investment powerhouse with over 180 properties and an estimated $44 million in assets. BIG North Capital is focusing on restoring financial health to its shareholders and expanding its investment portfolio beyond real estate.

“We have set an ambitious goal to become the most trusted, fastest growing private equity organization in Canada. The collective strength of our founding shareholders is our greatest asset. All shareholders bring something to the table; expertise, opportunities, capital, and a drive to succeed,” said Uszynski. “By investing in communities like Timmins, Sudbury, Sault Ste. Marie and Kirkland Lake, we will create a strong foundation from which we can grow.”

All inquiries about availability of units for rent should be directed to leasing@avenew.ca and the current listings can be viewed at https://avanew.rhenti.com

For more information, please contact: Rob Morrell, Spokesperson BIG North Capital Inc., Call us: 416-427-9687, email us: investorrelations@bignorthcapital.ca, visit us at www.bignorthcapital.ca, 

Mailing Address: BIG North Capital Inc., 7039 Woodbine Avenue, Suite 500, Markham, Ontario, L3R 6G2

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About BIG North Capital Inc.: For Canadian businesses in need of financial empowerment, BIG North Capital is the most trusted private equity business partner who views challenge as an opportunity. Our track record of results began with our being the only group in Canadian history to enter distressed asset proceedings as unorganized small individual investors and exit as a syndicated investment powerhouse.

PR 25-02