+ Sept. 22-24; BOMEX 2020, 20th Annual Building Excellence Summit, JW Marriott Parq, Vancouver; save the date
+ Sept. 29-30; Business Transitions Forum, Westin Edmonton; info/registration
+ Sept. 30; Vancouver Real Estate Forum, Vancouver Convention Centre West, Vancouver; info/register
+ Oct. 21; Alberta Real Estate Forum, Edmonton; info/register
+ Oct. 27-28; Supply Change EXPO, Stampede Park, Calgary; register
+ Oct. 28; BOMEX 2020 Virtual
+ Oct. 29-30; Business Transitions Forum, Westin Calgary; info/registration
+ Nov. 6; 6th Annual Barney Bentall and Cariboo Express/Peter Burgener Memorial Charity Concert benefit for Classroom Champions; save the date/information
+ Ascena Retail Group Inc. filed for Chapter 11 bankruptcy protection; closing all its brands in Canada, Puerto Rico, and Mexico; in the U.S. shutting Catherines stores completely, downsizing its number of stores in Justice, Ann Taylor, Loft, Lane Bryant, and Lou & Grey locations in an effort to reduce debt by US$1.0 billion’ reducing from 2,800 stores to 1,200 …
+ Simon Property Group and Authentic Brands formed Sparc LLC; they are bidding US$305.0 million to acquire Brooks Brothers and keep 125 of its stores operating
+ Swimco, Calgary based manufacturer and retailer, insolvent and seeking to restructure/downsize and reduce staff under court supervised creditor protection
INTERESTING REAL ESTATE NEWS FROM OTHER PLACES
+ Caesars Entertainment Corp. and Eldorado Resorts Inc. completed a merger and REIT spinoff (VICI Properties) worth US$17.0 billion
+ CBL Properties (100 U.S. malls) reported on the verge of a Chapter 11 filing
+ Alberta COVID-19 stats – cases still spiking – the curve is no longer flat: 186 deaths, 1,430 active cases of 8,774 cases to date: aggregate Alberta data – currently, 88 Albertans are in the hospital with COVID-19, and 17 of those are in intensive care units
+ Alberta did a Stage 2 relaunch, allowing many more businesses to re-open and allowing a wider range of public gathering activities started June 12th; state of public health emergency status for Calgary, and for Alberta, now lifted. The maximum size of outdoor gatherings has been raised to 200
+ ABTraceTogether – get the APP; GOA has launched an app which, if loaded on your phone, enables contact tracing in the event you or someone you’ve been near contracts COVID-19; this is something we should all consider getting on-board
+ a NEW publication coming soon; I will start publishing PROPERTY LINES, a monthly newsletter focused on investment real estate, property management, foreclosures and insolvency in Alberta, and including trend indicators from national and international sources
+ ATCO Ltd. will build Alberta’s first hydrogen blending project with $2.8 million funding from Emission Reductions Alberta Natural Gas Challenge; the facility will be at Fort Saskatchewan
+ CCSI Group of Companies – Carbon Credit Solution Inc., Cap-Op Energy, TriCore Carbon Solutions, Climate Smart Group, and Carbon Solutions Group – announced they have consolidated and rebranded as Radicle
+ current energy prices; live link to current Bloomberg energy prices / OilPrice.com; crude prices continue their uptick – WTI above US$41, Brent above US$43 – U.S.-China tensions and demand are driving prices notwithstanding COVID case spikes …
+ Glenbow Museum restructuring; reduced staff by 27
+ Karnalyte Resources Inc. engaged a strategic advisor
+ Kelt Exploration Ltd. agreed to self its B.C. Montney assets to ConocoPhillips for $510.0 million
+ Argonaut Gold Inc. closed $126.5 million equity financing
+ Brookfield Asset Management is on the market to raise US$500.0 million for its India REIT by IPO
+ Cargojet Inc. closed $15.0 million overallotment of its recent sr. unsecured debt financing
+ Clutch closed $7.0 million equity financing
+ Converge Technology Solutions Corp. is on the market to raise $17.5 million in equity
+ EarthRenew Inc. closed $2.093 million first-tranche of an equity financing by private placement
+ Hillcrest Petroleum Ltd. is on the market to raise $1.0 million in equity by private placement
+ IsoEnergy Ltd. closed US$6.0 million unsecured convertible debt financing
+ IsoEnergy Ltd. closed $4.0 million in equity by private placement
+ Killam Apartment REIT is on the market to raise $60.0 million in equity
+ Milestone Pharmaceuticals Inc. is on the market to raise $25.0 million in equity by private placement
+ Profound Medical Inc. closed US$46.0 million equity financing
+ QuadReal Property Group closed $350.0 million green bond sr. debt financing
+ Royal Bank of Canada is on the market to raise $1.75 billion in debt
+ Sangoma Technologies Corporation is on the market to raise $70.0 million in equity
+ Swimco, Calgary based manufacturer and retailer, insolvent and seeking to restructure/downsize and reduce staff under court-supervised creditor protection
+ Talisker Resources Ltd. is on the market to raise $23.0 million in equity by private placement
+ Vistion Critical secured US$20.0 million debt financing
+ Westport Fuel Systems Inc. secured US$10.0 million credit facility
+ Westport Fuel Systems Inc. secured €15.0 million debt financing
~
*editor’s note: names companies involved in debt financing transactions we report in this section are ALWAYS the borrower; we report ‘fresh raises’ and do not report secondary offerings or non-arm’s-length transactions …
+ Brookfield Asset Management is on the market to raise US$500.0 million for its India REIT by IPO
+ Killam Apartment REIT is on the market to raise $60.0 million in equity
INFRASTRUCTURE + P3
+ TransAlta Corporation announced it’s intention, as of July 31, 2020, to retire its Sundance 3 Coal-fired unit
QUOTES
+ The best investment on Earth is earth. – Louis Glickman
+ Don’t wait to buy real estate, buy real estate and wait. – Will Rogers
KUDOS
+ to organizers of Calgary’s newest festival – Chinook Blast – a proposed winter event coming in January 2021 …
SAVE THE DATE - CHARITY GOLF TOURNAMENTS
+ Sept. 11; Alberta Treasury Management Charity Classic – in support of Big Brothers Big Sisters of Calgary and Area, Canmore Golf & Curling Club; info/registration
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