The Nova Scotia Pension Services Corp. is acquiring an industrial property for a Quebec electric vehicle design company.

The 8.42 hectare facility, located in Chicago, will be redesigned in order to serve as a new production facility for Lion Electric Co. The Montreal-based electric vehicle designer and manufacturer, which produces electric vehicles for mass transit systems, is expected to begin using the site in 2022.

Following the redesign, the facility will be capable of manufacturing 20,000 vehicles per year, which would make it the largest dedicated production site for zero-emission medium and heavy-duty vehicles in the U.S.

Read: N.S. Pension Services Corp. appoints new CIO

In other investment news, the Ontario Teachers’ Pension Plan’s natural resources group is partnering with global investment manager Sprott Resource Streaming and Royalty Corp. in the US$225 million issuance of a royalty convertible note by Seabridge Gold’s wholly-owned subsidiary KSM Mining.

The note will pay a fixed coupon of 6.5 per cent and is to be exchanged at maturity for a silver royalty on a KSM project in northern British Columbia, according to a press release, which noted that the proceeds of the sale will be used to continue ongoing physical works at KSM.

“This investment highlights Ontario Teachers’ growing commitment to invest in the global metals industry, where we can achieve inflation protection, real returns and cash flow diversification,” said Christopher Metrakos, managing director of natural resources at the Ontario Teachers’, in the release. “This is an innovative structure that provides excellent exposure to a combination of fixed returns and long-term silver prices.”

Read: Ontario Teachers’ buying stake in U.S. renewable energy portfolio

And the Public Sector Pension Investment Board is leading a US$350 million transaction, comprised of a $300 million term loan B and a $50 million priority revolving credit facility, for Australian communications and information technology services provider Speedcast.

The transaction recapitalizes the March 2021 equity investment by Speedcast’s owner, Centerbridge Partners and provides additional balance sheet capital for growth, according to a press release.