FACILITYCalgary

news, commentary & perspective - financings, deals - commercial real estate, infrastructure, oil & gas

FACILITYCalgary June28/22

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CONVERSATIONS

Mark Kolke interviews interesting people. He seeks a glimpse of what drives them, how they see the world and what they see in Calgary's future. 

This week's conversation with John Bobenic , Pres. & CEO @ Maxim Power Corp.

Last week's conversation with Gayla Rogers, Professor & Senior Advisor @ University of Calgary

Click here to access the archive: archived conversations with fascinating people ...



 SHAREHOLDER MEETINGS

+ June 16; BTB REIT, Annual Meeting, Montreal

+ June 16; Calgary Homeless Foundation, Calgary

+ June 16; InnVest REIT, Annual Meeting, Toronto

+ June 16; K-Bro Linen Inc., Annual General Meeting, Toronto

+ June 17; Partners REIT, Annual Meeting of Unitholders, Barrie, ON

+ June 17; RioCan REIT, Annual Meeting, Toronto

+ June 17; ShaMaran Petroleum Corp., Annual General Meeting, Vancouver

+ June 18; Artis REIT, Annual Meeting, Winnipeg

+ June 18; Extendicare Inc., Annual General & Special Meeting, Toronto

+ June 19; First Capital Realty, Annual Meeting, Toronto

+ June 23; InterRent REIT, Annual Meeting

+ June 24; Economical Mutual Insurance Company, Annual Meeting, Kitchener

+ June 24; Sunshine Oilsands Ltd., Annugal General Meeting, Hong Kong

+ June 29; Boulevard Industrial REIT, Annual and Special Meeting, Toronto

+ June 30; Algonquin Power & Utilities Corp., Annual Meeting of Shareholders, Oakville

+ June 30; Legacy Oil + Gas Inc., Annual General Meeting, Calgary

+ June 30; Temple Hotels Inc., Annual and Special Meeting of Shareholders, Winnipeg

+ July 21; Sunshine Oilsands Ltd., Special General Meeting, Hong Kong

+ July 27; Mapan Energy Ltd., Annual and Special Meeting of Shareholders, Calgary


[send us your event notices and AGM notices to:  kolke@facilitycalgary.com ]



SHAKERS AND MOVERS 
moving, retired, resigned, died or got the boot

+ Alexandra Doumanis-Curtis to Group Head, U.S. Retail & Bus. Banking @ BMO Financial Group

+ Antoine Lafargue to Sr. VP, CFO & Corp. Secretary @ Magellan Petroleum Corporation

+ Bob Wanner, MLA for Medicine Hat, to Speaker @ Alberta Legislature

+ Connie Stefankiewicz to Chief Marketing Officer @ BMO Financial Group

+ David Capser to Pres. & CEO @ BMO Harris Bank NA

+ Edward Watchuk, VP Exploration @ PRD Energy Inc., retired

+ Ian Whitcomb to Pres. @ Irving Oil

+ James Wilson to Direcore @ Marquee Energy Ltd.

+ Joanna Rotenberg to Head, Personal Wealth Mgmt. @ BMO Financial Group

+ Mark Adler to Of Counsel @ McMillan LLP

+ Mark Hogan, President @ Boulevard Industrial REIT, resigned

+ Mark Sherman to VP & COO @ Irving Oil

+ Neil Bisset to Sr. VP & Chief Information Officer @ Ontario Teachers’ Pension Plan

+ Sarah Irving to Exec. VP & Chief Brand Officer @ Irving Oil

+ Volker Braun to VP Geosciences @ PRD Energy Inc.




BOARDROOM changes, purges, appointments etc.

+ Bryan Wallner to Director @ Parkit Enterprise Inc.

+ Charles Buehler to Director @ Titan Logix Corp.

+ David Mullen to Director @ Parkit Enterprise Inc.

+ Farouk Ahamed to Chairman @ Gore-Mutual Insurance Company

+ Glenn Carley to Chairman @ Marquee Energy Ltd.

+ Janet Woodruff to Director @ Keyera Corp.

+ Jill Gardiner to Director @ Capital Power

+ Jo-Anne Archibald to Director @ Oil Optimization Inc.

+ Kelly Huntington to Director @ Capital Power

+ Lois Mitchell Sworn-In as Lieutenant Governor @ Government of Alberta

+ Mark Hornett, Director @ PRD Energy Inc., resigned




 SAVE THE DATE / upcoming events

+ July 3-12; Calgary Stampede 2015 - tickets now on sale

+ Sept. 28-29; 10th Annual Pipeline Development & Expansion Conference, Houston info/register

+ Oct. 27; Calgary Real Estate Forum, TELUS Convention Centre, Calgary

+ Feb. 26/15; BUILDEX Vancouver, Vancouver Convention Center, Vancouver


[send event notices to:  kolke@facilitycalgary.com ]



 OIL SANDS NEWS 

+ Cenovus Energy Inc.’s Foster Creek project is back to normal operations; all staff back on site after forest fire scare




 SAVE THE DATE / GOLF TOURNAMENTS


+ June 25; 19th Annual Stay in School/Rotary – Calgary Connector Charity Golf Classic, Silvertip, Canmore; info/register
+ July 9; 13th Annual Coast Hotels – Shu Naito Golf Classic, Westwood Plateau, Coquitlam; info/register

+ July 14-16; Willow Park Charity Golf Classic, Willow Park Golf & CC, Calgary donate/register

+ Aug. 13; 10th Annual CREW Golf Tournament, Sirocco Golf Club, Calgary; info/register

+ Aug. 17; 16th Annual Special Olympics Calgary Golf Classic, Country Hills GC .. details later



INTERESTING REAL ESTATE NEWS, other places


+ American Hotel Income Properties REIT LP agreed to acquire three Marriott-flagged hotels in Florida; US$30.8 million for 352 rooms …

+ Sabra Health Care REIT agreed to acquire a nine-property seniors housing portfolio (302 units in BC, 563 units in Ontario) for $137.1 million from Leo Brown Group

+ Timbercreek U.S. Multi-Residential Opportunity Fund #1 closed the sale of Saratoga Ridge in Austin, Texas for US$ 22.1 million


FACILITYCalgary
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updated ... June 16, 2015




 TODAY'S HEADLINES


Alberta Throne Speech | CPPIB buys GE unit | Kelt increases CapEx! | Sun Life Financial buying Bentall Kennedy | +  John Bobenic interview | upcoming events & corp. meetings + climate changes news + REIT news +  financings + executive and board appointments >>>>




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 KUDOS 

+ to Camille Dow Baker, named a recipient of the Canadian Medical Association Medal of Honour for her work (she was co-founder and long term Pres. & CEO) with CAWST’s “Made In Canada” solution on access to safe drinking water and sanitation (previous Calgarians who’ve won this award: Peter Lougheed, Juliet Guichon




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 CLIMATE CHANGE / ENVIRONMENT
 IN THE NEWS 

+ Wastech Services opened its Landfill Gas Utilization Plant at Cache Creek, BC; will generate 4.8 megawatts under a 20-year contract to supply power to BC Hydro



 QUOTES

+ Americans like to make money; Canadians like to audit it. I know of no other country where accountants have a higher social and moral status. – Northrup Frye

+ How would your life be different if … you stopped worrying about things you can’t control and started focusing on the things you can? – Steve Maraboli




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NEWS SUMMARY 
 June 9 - 16 


+ ATB – daily economist’s outlook

+ Blacks, the photo retailer, is closing all 50 stores across the country

+ Canadian Association of Oilwell Drilling Contractors cut their 2015 forecast – expecting 25,000 job losses due to weak oil prices

+ Canamax Energy Ltd. cagreed to acquire Powder Mountain Energy Ltd. for $27.35 million

+ Cenovus Energy Inc.’s Foster Creek project is back to normal operations; all staff back on site after forest fire scare

+ Credit Suisse is starting and Acquisitions & Divestitures Unit for Canadian energy assets; being based in Calgary

+ current energy prices – live link to Bloomberg energy prices ; crude prices slumped this past week as OPEC pumped record numbers …

+ GAP, the clothing retailer, announced it will close 175 stores in North America this year and close stores in Europe as well due to softened sales

+ General Electric agreed to sell its private equity/leveraged buyouts division (Antares Capital) to Canada Pension Plan Investment Board for US$12 billion

+ Global Petroleum Show – 2015; more than 50,000 attendees exhibited wares, heard predictions, attended job fairs and networked …

+ Granite REIT is exploring strategic alternatives, asset sales etc. to enhance unitholder value; advisors engaged …

+ Greek econonmy continues to send shivers through European markets, IMF negotiators have withdrawn from talks; Greece expected to leave the Euro-zone as default on major debt repayments due June 30th are likely … tic toc ..

+ Hess Corp. agreed to sell 50% of its North Dakota Bakken processing and pipeline unit to Global Infrastructure Partners for US$2.675 billion

+ Hudson’s Bay Company agreed to acquire German departments store chain Galeria Kahfhof for US$3 billion

+ Inter Pipeline closed its $131 million acquisition of storage facilities in Sweden from Koninklikje Vopak NV

+ Kelt Exploration Ltd.  increased its 2015 CapEx Budget to $497 million, an increase of $40 million over early announcements

+ Manitok Energy Inc. closed its $61.5 million Wayne area assets acquisition

+ OMERS agreed to acquired Environmental Resources Management for US$1.7 billion from Chartherhouse Capital Partners

+ Petroamerica Oil Corp. agreed to acquired PetroNova Inc.

+ Primeline Energy Holdings Inc. agreed to merge with Loyz Energy Limited; will operate as Loyz

+ Speech from the Throne opened the Alberta Legislature on June 15, 2015; announced legislation coming on political donations reform, increasing corporate taxes and personal income taxes – while Premier Notley’s direction on issues like resource royalty review, carbon tax and other campaign hot-button issues are waiting for the fall … tic toc ..

+ Stinton Exploration Ltd. agreed to acquire ICESoft Technologies Canada Corp.

+ Sun Life Financial agreed to acquire Bentall Kennedy Group for $560 million

+ Surge Energy Inc. closed $430 million SE Saskatchewan & Manitoba asset sale to TORC Oil & Gas Ltd.

+ Tamarack Valley Energy Ltd. closed $43.3 million Wilson Creek asset acquisition

+ TransCanada Corporation got National Energy Board approval to proceeed with its $500 million King’s North Connection project to expand its Eastern Triangle/Canadian Mainline system

+ Traverse Energy Ltd. closed $9 million sale of royalty interests in the Brazeau are

+ Trinidad Drilling Ltd. agreed to acquire/merge with CanElson Drilling Inc. 




FINANCINGS - proposed & closed

+ Bayshore Petroleum Corp. is on the market to raise $1.2 million by a common share & warrants issue

+ Canadian Overseas Petroleum Limited cis on the market to raise $4 million by a common share & warrants issue

+ CT REIT is on the market to raise $350 million in sr. unsecured debt

+ Husky Energy Inc. is on the market to raise $150 million by a preferred share issue

+ Kelt Exploration Ltd. is on the market to raise $75.2 million in equity

+ Marsa Energy Inc. closed $1,798,750 tranche of its equity financing

+ Pembina Pipeline Corporation is on the market to raise $600 million in sr. unsecured debt

+ PHX Energy Services Corp. is on the market to raise $30.5 million in equity

+ PrairieSky Royalty Ltd. is on the market to raise $180 million in equity

+ PRO REIT closed $17.5 million equity financing

+ Slate Office REIT closed $80 million equity financing

+ Storm Resources Ltd. closed $36.4 million equity financing

+ Tamarack Valley Energy Ltd. closed $9,750,699 overallotment of its recent equity financing

+ TeraGo Inc. closed $10 million equity financing

+ TORC Oil & Gas Ltd. closed $433 million in equity financings




 this week in REITS 


+ American Hotel Income Properties REIT LP agreed to acquire three Marriott-flagged hotels in Florida; US$30.8 million for 352 rooms …

+ CT REIT is on the market to raise $350 million in sr. unsecured debt

+ Dilawri Group of Companies is establishing Automotive Properties REIT to acquire and hold auto dealership properties

+ Granite REIT is exploring strategic alternatives, asset sales etc. to enhance unitholder value; advisors engaged …

 

+ Mark Hogan, President @ Boulevard Industrial REIT, resigned

+ NOBEL REIT closed its $10.7 millioin acquisition of three buildings in Longueuil, QC

+ PRO REIT closed $17.5 million equity financing

+ Sabra Health Care REIT agreed to acquire a nine-property seniors housing portfolio (302 units in BC, 563 units in Ontario) for $137.1 million from Leo Brown Group

+ Slate Office REIT closed $80 million equity financing




 INFRASTRUCTURE / P3 / GREEN


+ ACS Infrastructure, Aecon Group, EllisDon and SNC-Lavalin consortium selected by Metrolinx and Infrastructure Ontario as preferred proponent for the Eglinton Crosstown Light Rail Transi project in Toronto – design, finance, construction and maintenance; 30 yr. deal for 19 km. line with 25 stations. Construction to start first qtr. 2016

+ Boralex Inc. inaugureated its 22MW Jamie Creek project; a run-of-river hydroelectric power station

+ DIRTT Environmental Solutions won the inagaural Green Building Product of The Year Award for its ENZO interior wall system

+ Harper government is re-structuring allocation of $13 billion still available in the Building Canada fund to foster pre-election announcements … and, we hope, actual projects


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