SHAKERS AND MOVERS

appointments and disappointments

+ Amanda Reitenback to VP Dev. & Operations @ Strategic Oil & Gas Ltd.

+ Ashleight Everett to Director @ Wawanesa Insurance

+ Bindu Wyma to Director @ Gear Energy Ltd.

+ Brian Craig to Director @ Katipult Technology Corp.

+ Brian Peccarelli to Co-COO @ Thomson Reuters

+ Carol Johnson to Director @ Avison Young

+ Chadwick Westlake to Sr. VP Structural Cost Management @ Scotiabank

+ Charles Emond to Exec. VP Finance @ Scotiabank

+ Charron Ungar to CEO @ Homes by Avi Group of Companies

+ Chris Bardell to Mgr. Bus. Dev. @ Ledcor

+ Christopher Strong to Director @ Grande West Transportation Group Inc.

+ Christy Clark to Sr. Advisor @ Bennett Jones LLP

+ Cody Smith, COO @ Strategic Oil & Gas Ltd., resigned

+ Corey Goulet to VP, Pipeline @ Steelhead LNG

+ Craig Bryska to Interim Pres. & CEO @ Crescent Point Energy Corp.

+ David Mullen, Director @ Parkit Enterprises Inc., resigned

+ David Weinerth to Pres., Smart Buildings @ Universal mCloud Corp.

+ Douglas Urch to Chairman @ Sterling Resources Ltd.

+ George Flemming to Director @ Mosaic Capital Corporation

+ Greg Florence to CFO & Corporate Secretary @ E3 Metals Corp.

+ Howard Schultz, Founder & Executive Chairman @ Starbucks Corp., stepping away from the company

+ Ian MacLeod to Sr. VP Multi-Family, Eastern Canada @ ONE Properties

+ Ian Tweedie to CFO @ Jaguar Resources Inc.

+ Jacob Coonan, Sr. VP & CFO @ McCoy Global Inc., leaving the company

+ Joel Dumaresq, Director @ Parkit Enterprises Inc., resigned

+ Katherine Bardswick to Director @ Wawanesa Insurance

+ Kevan Gorrie to CEO @ Granite REIT

+ Lucille Selmanovic to Account Exec. @ McCrum’s Office Furnishings

+ Mark Gardhouse to Pres, CEO & Director @ Mosaic Capital Corporation

+ Mike Lake to Pres. Entero Mosaic Div. @ Quorum Canada

+ Miranda Ballentine to CEO @ Constant Power Inc.

+ Neil Masterson to Co-COO @ Thomson Reuters

+ Nick Cristiano to CFO & Corp. Secretary @ Hyduke Energy Services Inc.

+ Raj Viswanathan to Acting CFO @ Scotiabank

+ Randy Boyd, CFO @ Jaguar Resources Inc., resigned

+ Roy Queener to Pres. @ Quorum Canada

+ Scott Caverley to VP Industrial, GTA @ ONE Properties

+ Scott Saxberg, Pres., CEO & Director @ Crescent Point Energy, stepped down

+ Steve Robb to VP Sales @ Quorum Canada

+ Tracey Erler to Lawyer @ Aarbo Fuldauer LLP

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

MEMORIAM

+ Ross McBain, founder of Edmonton’s McBain Camera, community leader and philanthropist; 94

KUDOS

+ to recipients of Honorary Degrees at University of Calgary; Hayley Wickenheiser, Marie Delorme, Harvey Lock, Stephanie Nolen, David Pierce, Kim Sturgess, Brian Jackson and Peter Doherty … waytogo!

HUMAN RESOURCE + WORKPLACE TRENDS

+ can employers refuse jobs to medical pot users? … seems they can

+ harassment in the workplace

GLOSSARY + ABBREVIATIONS + ACRONYMS

+ AEMERA – Alberta Environmental Monitoring Evaluation and Reporting Agency

+ AER - Alberta Energy Regulator

+ AIMCo – Alberta Investment Management Corporation

+ ASC – Alberta Securities Commission

+ AUC – Alberta Utilities Commission

+ BBL – barrel

+ BBLS/D – barrels per day

+ BIM – Building Information Modeling

+ BOE – barrel of oil equivalent

+ Brent – North Sea crude benchmark price

+ CapEx – capital expenditures

+ CAPP - Canadian Association of Petroleum Producers

+ cap rate – capitalization rate

+ CBD – Central Business District

+ CCAA – Companies’ Creditors Arrangement Act

+ CCS – Carbon Capture and Storage

+ CEAA – Canadian Environmental Assessment Agency

+ Chapter 11 – court ordered creditor protection under U.S. bankruptcy law

+ COSIA - Canada's Oil Sands Innovation Alliance

+ CPPIB – Canada Pension Plan Investment Board

+ CREB - Calgary Real Estate Board

+ DIP – debtor in possession

+ EBITDA – earnings before interest, taxes, depreciation and amortization

+ EIA – U.S. Energy Information Administration

+ EPC – engineering, procurement and construction

+ E & P – exploration and production

+ FERC – U.S. Federal Energy Regulation Commission

+ Forbearance Agreement – a short term formalized relief arrangement when loan terms are in default

+ FSR – floor space ratio

+ FTC – U.S. Federal Trade Commission

+ GJ – gigajoule

+ GLA – gross leasable area

+ GOA - Government of Alberta

+ GOM – Gulf of Mexico

+ GTA – greater Toronto area

+ GW - gigawatt

+ G&A – general and administrative

+ HOOP – Healthcare of Ontario Pension Plan

+ IEA – International Energy Agency

+ IFMA – International Facility Management Association

+ IPO – Initial Public Offering

+ JV – Joint Venture

+ KV – kilovolt (one thousand volts)

+ KW – kilowatt (one thousand watts)

+ LEED – Leadership in Energy and Environmental Design

+ LNG – Liquefied Natural Gas

+ LPG – Liquefied Propane Gas

+ MCF – thousand cubic feet

+ MCF/D – thousand cubic feet per day

+ mezz – mezzanine debt

+ MOU – Memorandum of Understanding

+ MT – metric ton

+ MW – megawatt (1 million watts)

+ NAFTA – North American Free Trade Agreement

+ NEB – National Energy Board

+ NGLs – natural gas liquids

+ OPEC – Organization of Petroleum Exporting Countries

+ P3 – Public Private Partnership

+ PADD – U.S. Petroleum Administration for Defense Districts

+ PPA – Power Purchase Agreement

+ PSAC – Petroleum Services Association of Canada

+ PSP – Public Sector Pension Investment Board

+ RECA – Real Estate Council of Alberta

+ REIT – Real Estate Investment Trust

+ RFI – request for information

+ RFP – request for proposals

+ RFQ – request for qualifications

+ RICS – Royal Institution of Chartered Surveyors

+ RNG – renewal natural gas

+ SAGD – steam assisted gravity drainage

+ SAIT – Southern Alberta Institute of Technology

+ S & P – Standard & Poors

+ sub – subsidiary

+ sub. – subordinated

+ tic toc – we’ll see …

+ TOD – transit oriented development

+ UDI – Urban Development Institute

+ WTI – West Texas Intermediate crude benchmark price

+ WTO – World Trade Organization

+ YYC – YYC Calgary International Airport

SUGGESTIONS / COMMENTS:

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updated June 5, 2018

TODAY'S HEADLINES

CONVERSATIONS

Last week's conversation with Bob (Simon) Whitworth, Founder/Pres. of Simple Simon Pies

A recent conversation with Mona Cooley, Founder/CEO @ Cool Family Solutions

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

sponsors of this week's issue:

e-mail Grant Robinson, Managing Director, Calgary

RISK & INSURANCE SOLUTIONS

click to contact: Trevor Winkler, Regional Managing Partner, Calgary

ACCCOUNTING, CONSULTING, TAX

e-mail Peter Gatzsch

COMMERCIAL INTERIOR CONSTRUCTION

DATA CENTRE

e-mail: June.Read@DataHive.ca

e-mail Norm Landry

PROJECT MANAGEMENT

e-mail Lance Laliberte - Sales at PREMIERE OFFICE MOVERS

OFFICE MOVERS

PUT YOUR

COMPANY HERE

Advertising/sponsorship queries: kolke@facilitycalgary.com

SEE YOUR

BRAND HERE

e-mail to Katherine Robinson, Managing Director

e-mail to Kim Green, Sr. Associate, Interior Design

ARCHITECTURE + INTERIOR DESIGN

CONTACT MARK KOLKE

OFFICE AND INDUSTRIAL LEASING

A great new listing: Mark Kolke, MaxWell South Star Realty and Joy Peacock, Re/MAX Central invite you to check out this new listing For Sale:

31079 Woodland Heights, Calgary

BEARSPAW beauty - FOR SALE - click to contact Mark Kolke, Agent

CONTACT MARK KOLKE

RESIDENTIAL SALES

CALGARY OLYMPICS 2026 BID WATCH

+ Calgary City Council authorizing an ovation to re-start new arena negotiations with the Calgary Flames; the Flames remain silent on the issue.

SAVE THE DATE / upcoming events

+ June 4-6; OPEX Summit; Operational Excellence in Energy Chemical & Resources, BMO Centre, Calgary; info/agenda

+ June 6; U of C/School of Public Policy, ‘Bridging Divides: In Search of Sound Public Policies for Energy and Environment in Canada, Fairmont Palliser Hotel, Calgary; register/tickets

+ June 11-13; NeoCon 50th Anniversary Trade Show & Conference, theMart, Chicago; info/register , registration now open

+ June 12-14; Global Petroleum Show, Stampede Park, Calgary; event guide

+ June 20-21; 7^th OPEC International Seminar, Vienna, Austria

+ Sept. 3-5; World Heavy Oil Congress & Exhibition, Oman Convention Centre, Muscat, Oman; info/register

+ May 26-29/2019; 10^th Annual Clean Energy Ministerial and 4^th Annual Mission Innovation, Vancouver; details

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

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NEWS SUMMARY
May 29 ~ June 5

+ Altura Energy Inc. closed the sale of a portfolio of east-central Alberta and Saskatchewan assets for $28.4 million

+ current energy prices – live link to current Bloomberg energy prices; crude prices down this week as hedge funds step back, traders expecting OPEC to expand output …

+ Fairfax Financial Holdings Limited closed its acquisition of Toys “R” Us (Canada) Ltd.

+ Government of Canada beginning the process of ‘selling’ it’s recently acquired TransMountain Pipeline system, right of way and ‘right to build the approved expansion’ … tic toc

+ Irving Oil news; Arthur Irving Family Trust bought out the interest of Jack Irving’s family to assume full ownership of the company founded by K.C. Irving … brawl in the family? …

+ Keyera Corp. announced it is going forward with Phase II expansion of its Wapiti Gas Plant; expected to complete by mid-2020, capital cost $150.0 million

+ PBA Land and Development announced commencement of development on its 525 – 5^th Ave SW site; two hotels in one; The Dorion will be comprised of two 27-storey towers; a Courtyard by Marriott (180 keys) and a Marriott Autograph Collection (120 keys) flags will fly

+ Petronas’s North Montney LNG Limited Partnership agreed to acquire a 25% stake in LNG Canada

+ rig counts: up 19 to 99; full breakdown

+ Scotiabank agreed to acquire MD Financial Management for $2.585 billion

+ trade with U.S. rumbles are turning to reality; a new NAFTA deal still looks doubtful and duties on steel and aluminum are now in effect against Canada – mixed messages from the Trump administration seem unduly focused on sunset clause, dispute resolution and dairy … with tariffs being the Trump weapon of choice … tic toc

+ U.S. rig counts: up one to 1,060; full breakdown

+ Velvet Energy Ltd. commenced an unsolicited offer to acquire Iron Bridge Resources Inc.

+ welcome to our newest sponsor at FACILITYCalgary: Jones Brown Insurance

+ World Environment Day 2018 today focuses on elimination of plastic: #BeatPlasticPollution

THIS WEEK IN FINANCINGS

- proposed & closed

+ Calfrac Well Services Ltd. closed US$650.0 million sr. debt financing

+ Fronterra Energy Corporation is on the market to raise US$500.0 million in sr. unsecured debt

+ InPlay Oil Corp. secured $75.0 million credit facility

+ Pine Cliff Energy Ltd. secured $45.0 million credit facility

+ Scotiabank is on the market to raise $1.5 billion in equity

+ SNC-Lavalin closed $150.0 million unsecured debt financing by private placement

+ Source Energy Services Ltd. closed $50.0 million sr. secured debt financing

+ TerraGo Inc. is on the market to raise $6.0 million in equity

+ Tervita Corporation closed US$250.0 million sr. secured debt financing

*editor’s note: names companies involved in debt financings we report in this section are ALWAYS the borrower …

this week in REITS

+ BSR REIT closed its acquisition of Brandon Place (200 units), Oklahoma City for US$23.4 million

+ Kevan Gorrie to CEO @ Granite REIT

+ Plaza Retail REIT closed the sale of a 50% JV interest in 1000 Islands Mall in Brockville, ON

QUOTES

+ Someone is sitting in the shade today because someone planted a tree a long time ago. – Warren Buffet

+ In a gentle way, you can shake the world. – Mahatma Gandhi

INTERESTING THINGS IN RETAIL

+ Canada Goose is opening two retail stores in China – HongKong and Beijing

+ RioCan REIT offering 10 shopping centres For Sale in London

INTERESTING REAL ESTATE NEWS FROM OTHER PLACES

+ Cadillac Fairview acquired a 60% interest of its partner to now hold 100% of The Ritz-Carlton hotel in Toronto

SHAREHOLDER MEETINGS

+ June 5; Karnalyte Resources Inc., Annual and Special Meeting, Saskatoon

+ June 6; Street Capital Group Inc., Annual and Special Meeting of Shareholders, Toronto

+ June 7; Dollarama Inc., Annual Meeting of Shareholders, Montreal

+ June 7; Fiera Capital Corporation, Annual General and Special Meeting of Shareholders, Montreal

+ June 13; K-Bro Linen Inc., Annual General Meeting, Toronto

+ June 15; Roots Canada, Annual General Meeting, Toronto

+ June 25; New West Energy Services Inc., Annual and Special Meeting of Shareholders, Calgary

+ June 26; Eagle Energy Inc., Annual General Meeting, Calgary

+ July 6; Callidus Capital Corporation, Annual General Shareholders Meeting, Toronto

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

INFRASTRUCTURE / P3

+ Calgary City Council authorizing an ovation to re-start new arena negotiations with the Calgary Flames; the Flames remain silent on the issue.

CONSTRUCTION NEWS + INNOVATION

+ Trans Mountain pipeline expansion – construction to start this summer …

CHARITY GOLF TOURNAMENTS

+ June 8; 16^th Annual Alberta Treasury Management Charity Classic, Canmore Golf and Curling Club, Canmore; info/register

+ June 21; 57^th Annual CSPG Classic Golf Tournament, Elbow Springs Golf Club, Calgary; info/register

+ June 26; University of Calgary Chancellor’s Challenge Golf Tournament, Country Hills Golf Club; info/registration - contact

+ July 5; 16^th Annual Coast Hotels-Shuhachi Naito Golf Classic, Tsawwassen Springs, Delta, BC; info/register

[send your tournament notices to: kolke@facilitycalgary.com ]

CORPORATE RESPONSIBILITY REPORTS

+ Energir published its 2017 Sustainability Report

FACILITYCalgary newsletters may not be reproduced, distributed, transmitted, displayed, published or broadcast, directly or indirectly, in any medium without prior written permission. All rights reserved. PLANDflex Corporation - http://plandflex.com

FACILITYCalgary

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

FACILITYCalgary June28/22

CONVERSATIONS

ARCHIVED ISSUES

SIGN UP

+ AEMERA – Alberta Environmental Monitoring Evaluation and Reporting Agency

+ AER - Alberta Energy Regulator

+ AIMCo – Alberta Investment Management Corporation

+ ASC – Alberta Securities Commission

+ AUC – Alberta Utilities Commission

+ BBL – barrel

+ BBLS/D – barrels per day

+ BIM – Building Information Modeling

+ BOE – barrel of oil equivalent

+ Brent – North Sea crude benchmark price

+ CapEx – capital expenditures

+ CAPP - Canadian Association of Petroleum Producers

+ cap rate – capitalization rate

+ CBD – Central Business District

+ CCAA – Companies’ Creditors Arrangement Act

+ CCS – Carbon Capture and Storage

+ CEAA – Canadian Environmental Assessment Agency

+ Chapter 11 – court ordered creditor protection under U.S. bankruptcy law

+ COSIA - Canada's Oil Sands Innovation Alliance

+ CPPIB – Canada Pension Plan Investment Board

+ CREB - Calgary Real Estate Board

+ DIP – debtor in possession

+ EBITDA – earnings before interest, taxes, depreciation and amortization

+ EIA – U.S. Energy Information Administration

+ EPC – engineering, procurement and construction

+ E & P – exploration and production

+ FERC – U.S. Federal Energy Regulation Commission

+ Forbearance Agreement – a short term formalized relief arrangement when loan terms are in default

+ FSR – floor space ratio

+ FTC – U.S. Federal Trade Commission

+ GJ – gigajoule

+ GLA – gross leasable area

+ GOA - Government of Alberta

+ GOM – Gulf of Mexico

+ GTA – greater Toronto area

+ GW - gigawatt

+ G&A – general and administrative

+ HOOP – Healthcare of Ontario Pension Plan

+ IEA – International Energy Agency

+ IFMA – International Facility Management Association

+ IPO – Initial Public Offering

+ JV – Joint Venture

+ KV – kilovolt (one thousand volts)

+ KW – kilowatt (one thousand watts)

+ LEED – Leadership in Energy and Environmental Design

+ LNG – Liquefied Natural Gas

+ LPG – Liquefied Propane Gas

+ MCF – thousand cubic feet

+ MCF/D – thousand cubic feet per day

+ mezz – mezzanine debt

+ MOU – Memorandum of Understanding

+ MT – metric ton

+ MW – megawatt (1 million watts)

+ NAFTA – North American Free Trade Agreement

+ NEB – National Energy Board

+ NGLs – natural gas liquids

+ OPEC – Organization of Petroleum Exporting Countries

+ P3 – Public Private Partnership

+ PADD – U.S. Petroleum Administration for Defense Districts

+ PPA – Power Purchase Agreement

+ PSAC – Petroleum Services Association of Canada

+ PSP – Public Sector Pension Investment Board

+ RECA – Real Estate Council of Alberta

+ REIT – Real Estate Investment Trust

+ RFI – request for information

+ RFP – request for proposals

+ RFQ – request for qualifications

+ RICS – Royal Institution of Chartered Surveyors

+ RNG – renewal natural gas

+ SAGD – steam assisted gravity drainage

+ SAIT – Southern Alberta Institute of Technology

+ S & P – Standard & Poors

+ sub – subsidiary

+ sub. – subordinated

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