OverActive Media has moved a step closer to getting its plan for a new entertainment venue at Toronto's Exhibition Place off the ground.

The company announced it will use the funding to further expand its operations. It also announced two appointments to its senior management team and two to its board of directors.

The vessel will be built by Hamilton’s Heddle Shipyards. Once operational in Lake Ontario, the ferry will allow for the transport of up to three times more vehicles than the current ferry.

Once complete, the mine will become one of Canada’s largest. The initial capital-construction budget for the project is approximately $1.5 billion, with work scheduled to take place over two years.

Community opposition to the e-commerce giant’s proposal to convert a Cornwall Road facility into a distribution centre was enough to convince Amazon to locate its services elsewhere.