Northfield Capital

What Northfield Capital does

Northfield Capital Corporation (TSX-V: NTV, rebranding to Juno International Corp.) is a Toronto-based publicly traded investment holding company founded in 1981. The firm maintains a concentrated portfolio of equity investments and wholly-owned operating subsidiaries concentrated in two sectors: mineral exploration and aviation. Its flagship asset is an approximately 35% equity interest in Juno Corp., a junior miner executing the largest drilling program in Ontario's Ring of Fire critical minerals district in over a decade, with a discovery of heavy rare earth elements (neodymium, praseodymium, dysprosium, terbium) at the Vespa system. The company also holds minority positions in Gold Hart Copper Corp. (Chile), Boreal Gold, Rocky Shore Gold, and historically Nighthawk Gold. In aviation, Northfield wholly owns True North Airways Inc., a charter operator running Pilatus PC-12 NG aircraft across North and Central America, and CNA Aviation Corp., which supports Central American aviation operations. The portfolio also includes Evolve Royalties, a wholly-owned royalty investment vehicle.

The business model combines (i) capital appreciation from junior mining equity stakes, where returns are realized through exploration success, M&A roll-ups (e.g., Gold Hart/Rhyolite combination), or public market exits; (ii) operating cash flow from a small charter aviation business; and (iii) royalty income from mining interests. Northfield monetizes its portfolio primarily through TSX Venture Exchange and Canadian Securities Exchange transactions, brokered and non-brokered private placements, and direct investment into portfolio companies. In 2025 alone, the company participated in Juno Corp.'s $18 million private placement, closed its own $15 million brokered financing, deployed capital into Gold Hart Copper's oversubscribed $18.6 million financing, and increased its Boreal Gold stake to roughly 8.5%. CEO Robert Cudney maintains voting control through Class B shares, with the company periodically issuing additional Class B shares to preserve his voting interest. In March 2026, the company announced its intent to rebrand to Juno International Corp. to reflect the strategic centrality of the Juno Corp. investment and the international aviation footprint.

Name

Northfield Capital

Legal name

Northfield Capital Corporation

Website

https://northfieldcapital.com

Company type

Public

Founded year

1981

Operating status

Operating

Headcount range

1–10 employees

Ownership category

akta.pro rank

Product category

Investment Holding and Asset Management

NAICS

Other Financial Investment Activities (5239), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Investors, Nec (6799)

akta.pro primary industry

Corporate Strategic Real Assets & Infrastructure Venture Investing (FSANAHAN)

Keywords

• Strategic investment holding
• Junior mining investments
• Critical minerals exploration
• Aviation charter services
• Equity portfolio management

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Others

Distribution channels1 record

Core offering

Northfield Capital Corporation is a publicly traded investment holding company that deploys capital into strategic equity investments in junior mining and aviation companies. The company generates returns through a diversified portfolio including a ~35% stake in Juno Corp. (critical minerals exploration in Ontario's Ring of Fire), wholly owned charter aviation subsidiary True North Airways, royalty-based investments via Evolve Royalties, and minority positions in gold and copper exploration companies.

Product overview

Northfield Capital Corporation ( rebranding to Juno International Corporation) is a strategic investment holding company with a diversified portfolio of subsidiaries and equity investments. The portfolio includes Juno Corp. (flagship mineral exploration subsidiary focused on critical minerals in Ontario's Ring of Fire), True North Airways (aviation charter services), Evolve Royalties (royalty investments), Rocky Shore Gold, and Gold Hart Copper Corp. The company operates across resource exploration and aviation sectors, with strategic focus on critical minerals, gold, and aviation services.

Differentiator

Problem solved

Functional benefit

Products and services

• Juno Corp.
• True North Airways Inc.
• Evolve Royalties
• CNA Aviation Corp.

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core.

• Province of OntariocoreStrategic or Co-development Partner · 28 November 2025Community Partnership Agreement with Ontario to develop infrastructure in the Ring of Fire mineral district, including construction of the Marten Falls Community Access Road to improve access and unlock critical mineral resources.
• Webequie First NationcoreStrategic or Co-development Partner · 31 October 2025Community Partnership Agreement with Webequie First Nation and Ontario government to develop critical infrastructure, including a supply road, to facilitate responsible resource development in the Ring of Fire.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Sandstorm Gold Royalties: Established royalty and streaming company with a diversified portfolio of mining royalties. Comparable to the Evolve Royalties business model within Northfield's portfolio.
• Franco-Nevada Corporation: World's largest precious metals royalty and streaming company. Comparable to Evolve Royalties' royalty model and Northfield's broader strategy of non-operating exposure to mining economics.
• Power Corporation of Canada: Diversified Canadian investment holding company with stakes across financial services, asset management, and operating businesses. Comparable as a Canadian public investment holding structure, though much larger and more diversified.
• Sprott Inc. Resource-focused investment manager offering managed funds, ETFs, and physical bullion across the mining sector. Comparable as a publicly-listed resource investment platform, though materially larger and more diversified than Northfield's concentrated portfolio.
• Triple Flag Precious Metals Corp. Mid-tier royalty and streaming company with a portfolio of precious metals streams. Comparable to Northfield's mining royalty strategy via Evolve Royalties, though significantly larger and at a different stage.

Direct peers

• EMX Royalty Corp: TSXV-listed royalty and mineral property company that builds a portfolio of royalty interests across global mining assets. Highly comparable to Northfield's Evolve Royalties subsidiary and overall mining investment holding model.
• Foran Mining Corporation: TSX-listed critical minerals development company focused on copper-zinc in Saskatchewan. Comparable to the type of Canadian-listed mining companies that Northfield holds strategic equity in, particularly for its critical minerals/copper exposure.
• Labrador Gold Corp. TSXV-listed junior gold exploration company focused on Canadian assets. Comparable as one of the type of junior mining names in which Northfield holds equity stakes (minority minority positions in Rocky Shore Gold, Boreal Gold).
• Metalla Royalty & Streaming Ltd. Acquires royalty and streaming interests in mining projects, generating revenue tied to third-party production. Comparable to Northfield's royalty investment vehicle and overall strategy of building exposure to mining via non-operating financial structures.
• Gold Royalty Corp: Royalty-focused company providing upfront capital to miners in exchange for stream/royalty interests. Directly mirrors the Evolve Royalties business model that Northfield operates within its investment holding structure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries6 records

Funding overview

Funding rounds3 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments3 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Northfield Capital