FACILITYCalgary

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FACILITYCalgary June21/22

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  - consider self-isolating this summer at SYLVAN LAKE 


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June 8 - 10, 2021, Stampede Park - Calgary, Canada


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+ June 24; Zero GHG Production of Oil Sands Reservoirs Using RF Heating

+ June 27; Reduce Costs Now: Realize Immediate Savings Through Sourcing, Contract Compliance, & Efficient Procurement




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CONVERSATIONS

A recent conversation with Steve Mesler, Co-founder and CEO @ Classroom Champions

A recent conversation with Mogens Smed, Founder and CEO @ Falkbuilt

Click here to access the archive (2012-2020) : archived conversations with fascinating Calgarians ...



SHAKERS AND MOVERS 
appointments and disappointments 

+ Catherine Best to Board Chair @ Wawanesa Insurance

+ Chris Heseltine to Acting CEO @ Travel Alberta

+ Corinne Ripoche to CEO, Adecco Staffing, Americas @ Adecco Group

+ Derek Redman to Chief Judge @ Provincial Court of Alberta

+ Drew Knight to CFO @ Horizon North Logistics Inc.

+ Eric Miller to COO @ Vitruvi

+ François Desjardins, CEO @ Laurentian Bank, retiring

+ Jay Campbell to Director @ Bonterra Energy Group

+ Joseph Mapa to Director @ Sienna Senior Living Inc.

+ Justin Seguin to Dev. Mgr. @ Attainable Homes Calgary

+ Karuna Sheinfield to Chief Product Officer @ Roots Corporation

+ Kate (Ryder) Abbott to General Counsel @ Statesman Group of Companies

+ Laetitia Pacaud to CFO & COO @ Epic Investment Services

+ Lois Cormack, Pres. & CEO @ Sienna Senior Living Inc., resigned

+ Marja Sekularac to Mgr. Residential Marketing and Leasing @ BentallGreenOak

+ Mary Powell to Director @ CGI Inc.

+ Melisa Okanovic to Proposal Mgr. @ Vog App Developers

+ Mireille Fontaine to Director @ Questerre Energy Corporation

+ Nicole Arnaboldi to Director @ Manulife Financial Corporation

+ Nitin Jain to Pres. & CEO @ Sienna Senior Living Inc.

+ Pascal Attard to CFO @ Vox Royalty Corp.

+ Paul Mouchakkaa to Managing Partner @ BentallGreenOak

+ Paul Soubry to Director @ Wawanesa Insurance

+ Randy Koroll to CFO @ SPoT Coffee

+ Saj Shapiro to COO @ Radicle

+ Sean MacLachlan to Partner @ Field Law

+ Sheila Griffith to Sr. Loss Adjuster @ Charles Taylor Adjusting

+ Stephane Therrien to Pres. & Interim CEO @ Laurentian Bank

+ Stephen Poloz to Director @ CGI Inc.

~

 [send us your appointment notices  kolke@facilitycalgary.com ]




 MEMORIAM 

+ Harry Chupik; former Chairman and Co-founder of Canyon Plumbing & Heating Ltd., 69

+ Roy Little Chief; former Siksika First Nation Chief and rights advocate, 81




 HUMAN RESOURCES + WORKPLACE TRENDS 

+ office re-occupancy is beginning in most Canadian markets; safety procedures are being adopted by both landlords and tenants – be sure to watch the floor for arrows and spots to manage flow and distancing; most of all, elevator rides will prove challenging as distancing requirements will mean long delays waiting for an empty car …

+ spotlight on Colliers Project Leaders over questionable requests of employees to falsify work and vacation records to avoid layoffs; CEO under scrutiny … tic toc … and this reporting makes one wonder how many other employers have used similar tactics – we’ll have to watch this one play out

+ will people want to continue working from home? … this Angus Reid Survey suggests a large portion of ‘working from home workforce’ want to stay away from their offices permanently




 SAVE THE DATE / upcoming events

+ Aug. 22; Fresh Start Recovery’s 12 Stop Ride For Recovery Motorcycle Road Rally; save the date

+ Sept. 16-17; Lloydminster Heavy Oil Show, Lloydminster, Agricultural Exhibition Association, Lloydminster; info/register

+ 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. 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

+ Nov. 25-27; Economic Developers Alberta, 2020 Conference & AGM, Kananaskis; info/register

~

2021

+ Feb. 9-11; Egypt Petroleum Show, Egypt International Exhibition Center, Cairo, Egypt; info/register/call for papers

+ June 5;  NSTEP’s Step Up 4 Calgary Kids Race 2020, Fish Creek Park, Calgary; watch for sign up details

+ June 8-12; Global Energy Show, Stampede Park, Calgary, info/registration

+ June 14-16; NeoCon, theMart, Chicago; info

+ July 23 – Aug. 8; Tokyo Olympics – 2021 Summer Games

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




 TECH Corner ... 


+ Bell Canada launched its initial 5G service – Montreal, GTA, Calgary, Edmonton, and Vancouver




 INTERESTING REAL ESTATE NEWS FROM OTHER PLACES 


+ Just Eat Takeaway, a Dutch firm, acquired Grubhub’s global operations for US$7.3 billion




 CORPORATE RESPONSIBILITY + ESG REPORTS 


+ National Bank released its first Environmental, Social and Governance Advances Report

+ Whitecap Resources Inc. published its 2020 Environmental, Social, and Governance report




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 THIS WEEK'S HEADLINES


HEADLINES: Alberta COVID-stats + Stage 2 relaunch + deals + rig counts + upcoming events, appointments + REIT NEWS + ESG reports + financings + quotes + kudos




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  South-Calgary 2nd floor Design/Office space FOR LEASE 


~ 2nd floor office suite, elevatored

~ Suite #200, 9,268 sq. ft. / full floor

~ options; for multi-tenant:

-          3,315 sq. ft.

-          3,515 sq. ft.

~ surface parking, ~ transit nearby

~close to Glenmore Trail, Fairmont Drive and Chinook Centre

~ market rental rate

~ available September 2020

~ contact Mark Kolke, or call your agent


 123 Forge Road SE, Calgary 




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EXECUTIVE COACHING



 INTERESTING RETAIL TRENDS ...


+ Cineworld have pulled out of their transaction to acquired Cineplex Inc.; lots of comments about why it was the other party’s fault – COVID-19 at the core of it notwithstanding a clause in the deal; it looks like the only money to be made on this deal will be by lawyers for the parties and all those Cineplex landlords …

+ Cineplex Inc. announced its plan to reopen – and will re-open 6 theatres in Alberta on June 26th

+ Empire Company Limited (parent of Sobeys and Safeway) announced 6 new location for its FreshCo discount brand, now to be 28 locations across western Canada; 2 of the 6 are in Alberta (Heritage and Tamarack) – an ongoing rationalization of redundant/underperforming stores from the Sobeys/Safeway combination …

+ Simon Property Group terminated its pending US$3.6 billion acquisition of Taubman Centers Inc.; the justification is that Taubman’s properties are disproportionately COVID19 risky as they house high-end retailers in densely populated areas – and lawyers will be busy litigating this one

+ Starbucks announced it will shutter 400 U.S. locations; will close 200 locations in Canada – the focus will be toward eliminating low volume ‘non-drive through’ locations




FACILITYCalgary newsletters may not be reproduced, rewritten, distributed, re-disseminated, transmitted, displayed, published or broadcast, directly or indirectly in any medium without the prior written permission of MaxComm Communications - © Copyright 1999 - 2020 MaxComm Communications. All rights reserved. Domains operated by MaxComm Communications:

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 weekly newsletter

Est. July, 1999

~
Mark Kolke, Publisher

NEWS SUMMARY 
 June 9 ~ 16 / 2020 


+ Alberta COVID-19 stats: 151 deaths, 7,452 cases so far: aggregate Alberta data - currently there are 31 Albertans are in the hospital with COVID-19, seven 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 starting June 12th ; state of public health emergency status for Calgary, and for Alberta, now lifted

+ 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 with

+ big hailstorm that hit Calgary on Saturday night expected to result in more than $1.0 billion in damage claims …

+ CEO survey indicates ¼ of Alberta CEOs aren’t sure their companies will survive the COVID-19 pandemic

+ Chesapeake Energy Corporation is on the cusp of a Chapter 11 bankruptcy filing; negotiating US$900.0 million debtor-in-possession (DIP) financing

+ current energy prices; live link to current Bloomberg energy prices / OilPrice.com ; crude prices retreated this week on concerns about the elimination of production cuts by Saudi Arabia and reduced demand; meanwhile, the OPEC+ group agreed to continue their production cuts until the end of July … tic toc

+ Q’Max Group in receivership – KPMG is the receiver

+ rig activity in Canada

+ rig counts (active/working) – U.S.: down 5 to 279 this week; Canada: unchanged at 21 this week; full breakdown

+ Shaw Classic PGA Tour Champions event is CANCELLED; to resume in 2021

+ Xplornet Communications Inc. completed its sale to Stonepeak Infrastructure Partners; terms not disclosed




 CLIMATE CHANGE + LEED + RENEWABLE ENERGY 

+ GOA is ending the activity of Energy Efficiency Alberta; programs and initiatives being allocated to other agencies and departments




 SHAREHOLDER MEETINGS

+ June 16; AcuityAds Holdings Inc., Annual and Special Meeting of Shareholders, (virtual only)

+ June 17; American Hotel Income Properties REIT, Annual and Special Meeting of Unitholders, Vancouver, (and virtual)

+ June 17; Polaris Infrastructure Inc., Annual and Special Meeting of Shareholders, (virtual only)

+ June 18; Highwood Oil Company Ltd., Annual General and Special Meeting of Shareholders, Calgary, (and virtual)

+ June 23; Firm Capital Mortgage Investment Corporation, Annual General Meeting, Toronto, (and virtual)

+ June 23; Pinnacle Renewable Energy Inc., Annual General Meeting, Vancouver

+ June 23; Vertex Resource Group Ltd., Annual and Special Shareholders Meeting, (virtual only)

+ June 24; K-Bro Linen Inc., Annual General Meeting, (virtual only)

+ June 25; Air Canada, Annual Meeting of Shareholders, (virtual only)

+ June 25; Cascades Inc., Annual General Meeting of Shareholders, (virtual only)

+ June 25; Melcor REIT, Annual General Meeting, (virtual only)

+ June 25; Melcor Developments Ltd., Annual General Meeting, (virtual only)

+ June 25; PetroShale Inc., Annual Shareholders Meeting, Calgary, (and virtual)

+ June 25; True North Commercial REIT, Annual Unitholders Meeting, (and virtual)

+ June 26; Winpak Ltd., Annual General Meeting of Shareholders, (virtual only)

+ June 29; Calgary Zoo, Annual General Meeting, (virtual only)

+ June 29; Chorus Aviation Inc., Annual and Special Meeting of Shareholders, Halifax, (and virtual)

+ Aug. 7; Bridgemarq Real Estate Services Inc., Annual Meeting of Shareholders, (virtual only)

+ Aug. 11; Optiva Inc., Annual and Special Meeting of Shareholders, Toronto

~

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




THIS WEEK IN FINANCINGS 
- proposed & closed

+ AltaGas Ltd. closed $500.0 million sr. unsecured debt financing

+ Arianne Phosphate Inc. closed $1.5 million equity financing

+ Bank of Montreal is on the market to raise $1.5 billion in subordinated debt

+ EarthRenew Inc. is on the market to raise $5.0 million in equity by private placement

+ FSD Pharma Inc. closed $10.125 million equity raise by private placement

+ H&R REIT raised $400.0 million in sr. unsecured debt

+ Hudson’s Bay Company is on the market to raise US$900.0 million in debt

+ Rogers Communications Inc. is on the market to raise US$750.0 million in sr. unsecured debt

+ Teranet Holdings LP closed $550.0 million secured 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 …




 CONSTRUCTION NEWS + BUILDING INNOVATIONS  


+ fast-tracking projects to meet COVID era demand for grocery distribution projects



 INTERESTING TRENDS IN OFFICE REAL ESTATE ...


+ office re-occupancy is beginning in most Canadian markets; safety procedures are being adopted by both landlords and tenants – be sure to watch the floor for arrows and spots to manage flow and distancing; most of all, elevator rides will prove challenging as distancing requirements will mean long delays waiting for an empty car …

+ Spear Street Capital announced a redevelopment project for its three-building project in the Beltline (the former IBM Campus), now renamed The District; an expansion of 25,500 will create new retail space and an enclosed laneway, The Market Shed …




 this week in REITS 


+ BSR REIT acquired 303 door property, Wolf Ranch Apartments in Austin, TX, for $51.6 million

+ Granite REIT agreed to acquire 8 fully-leased U.S. distribution centres (Columbus, Cincinnati, Indianapolis, and Memphis) for $332.0 million; 4.0 million sq. ft.

+ H&R REIT raised $400.0 million in sr. unsecured debt




 INTERESTING TRENDS IN INDUSTRIAL + LOGISTICS REAL ESTATE ...


+ Lowe’s Canada struck a lease deal for a new 1.23 million sq. ft. distribution centre in Rocky View County / NW Calgary; the developer is Highfield Investment Group – expected completion by fall 2021, capital cost $120.0 million




 QUOTES 

+ Innovation is a life or death proposition – as never before. – Tom Peters

+ It is during our darkest moments that we must focus to see the light. - Aristotle




 KUDOS 

+ to those who’ve stretched to help others: BLG donating 2020 lbs. of food to the food bank during ‘Stampede Week’; KFC Canada for donating 200,000 meals to Food Banks Canada; The Rogers Family for contributing $60.0 million to agencies supporting COVID-19 issues




  GLOSSARY + ABBREVIATIONS + ACRONYMS 

CLICK HERE FOR FULL GLOSSARY  




 INFRASTRUCTURE + P3 


+ Calgary Stampede and Calgary Municipal Land Corp. released the design rendering for the $500.0 million BMO Convention Centre expansion

+ Canada Infrastructure Bank sign a Memorandum of Understanding (MOU) with Alberta Transportation to study the feasibility of a downtown Calgary to Banff rail link; 130-km / 6 stops project would be constructed using CPR’s corridor to aid tourism and reduce highway congestion …

+ the Government of Canada made an announcement last week - $244.0 million fir 2020-2021 for infrastructure in Alberta – using funds from the federal Gas Tax Fund. Spread over 347 communities that is a trickle/token re-announcement that won’t go far or last long, recycling money we paid at the pump …


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