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FACILITYCalgary June10/25

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CONVERSATIONS

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

A recent conversation with Brian Milloy, Co-Founder, Pres. & CEO at Levvel

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



SHAKERS AND MOVERS 
appointments and disappointments 

+ Alejandro Piñeros, to CFOR  @ Frontera Energy Corporation

+ Ashley White to Partner @ Bennett Jones

+ Aufel Tabora to CVO @ CEGEN Environmental Group

+ Ben Scholten to Interim CFO @ GMP Capital Inc.

+ Bill Flanagan to Pres. & Vice-Chancellor @ University of Alberta

+ Christie Anne Stinton to Lead – Talent Acquisition @ Stuart Olson Inc.

+ Corrine Dorazio to VP Leasing @ Dream Office REIT

+ David Cadimiro to Sr. VP Canadian Operations @ NorthWest Healthcare Properties

+ David Dyck, CFO @ Frontera Energy Corporation, stepped down

+ Dr. Anthony Holler, Director @ CRH Medical Corporation, resigned

+ Dr. Timothy Marchant to Director @ TransGlobe Energy Corporation

+ Dr. Tusha Rumani to Chairman @ CRH Medical Corporation

+ Gage Jull to Director @ Arrow Exploration Corp.

+ Genesh Balasubramanian to Chief Revenue Officer @ Optiva Inc.

+ Glenn Way to Exec. VP & COO @ GWL Realty Advisors

+ Hu Guangjie to Exec. Dir. & Pres. @ CNOOC Limited

+ Jean-Philippe Lemay to Global Pres. & COO @ Fiera Capital Corporation

+ Judy Cotte to Director @ Gibson Energy Inc.

+ Louis Vatrt @ VP Engineered and Large Property, Canada @ CNA

+ Katherine Roess to Immigration Coordinator @ KPMG Law

+ Krista Coburn to Corporate Secretary @ GMP Capital Inc.

+ Mark Lucas to Regional VP, Ontario @ CNA

+ Mary-Ann Bell to Director @ SNC-Lavalin

+ Mike Maguire to CEO @ High Arctic Energy Services Inc.

+ Mitz Giannakos to VP Sales & marketing @ Longhurst Consulting

+ Richard Halldearn to CEO @ Navarik Corp.

+ Sean Martin-Courtright to Marketing Mgr., Corp. Dev. & Marketing @ Painted Pony Energy Ltd.

+ Sean Monaghan to CFO @ Evans Consoles

+ Sue Janzen to Regional VP, Pacific & Alberta @ CNA

+ Suhan Hannan to Portfolio Mgr. @ AIMCo

+ Susan McKenzie, Director @ TransGlobe Energy Corporation, retiring

+ Tracy Brason to Operation Compliance & Controls Mgr. @ City of Lethbridge

+ Vincent Duhamel to Vice-Chairman @ Fiera Capital Corporation

~

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




 MEMORIAM 

+ Mike Kerr, former Partner, Davies Park, founder/principal of Vantage Solutions and dear friend; 59




 HUMAN RESOURCES + WORKPLACE TRENDS 

+ COVID-19 – top priorities for HR

+ cybersecurity risk as more people work from home

+ insuring HR success, Jeanie Heffernan interview

+ May 14; Reins of Responsibility, Shriners Fez Dome, Calgary; info/registration

+ now that so many public companies are having ‘virtual only’ annual general meetings, is that the demise of ‘actual annual meetings’? … doesn’t bode well for hotel and conference facility operators … tic toc




 SAVE THE DATE / upcoming events

+ Mar. 26-27; DARE TO LEAD by Incito, Vancouver; info/register

+ Mar. 28; Earth Hour 2020 – 8:30 – 9:30 everywhere

+ Mar. 28; OpenStreetsYYS – St. Patrick’s Island, 7:00-9:30PM; info

+ Mar 31; The Rise of Women in Tech Leadership, Westin Calgary, Calgary; info/register

+ Apr. 1; Western Canada Apartment Investment Conference, Vancouver Convention Centre West, Vancouver; info/register

+ Apr. 1-3; Economic Developers Alberta, 2020 Conference & AGM, Kananaskis; info/register

+ Apr. 15; Enbridge Famous 5 Speaker Series Leadership Lunch, Fairmont Palliser, Calgary; info/register

+ Apr. 22; Earth Day (50th Anniversary), celebrated world wide; details

+ Apr. 30; Calgary Women’s Emergency Shelter’s Turning Points Dinner, TELUS Convention Centre, Calgary; info/tickets

+ May 12-13; Business Transitions Forum, Westin Edmonton; info/registration

+ May 12-14; Canada Gas and LNG Exhibition and Conference, Vancouver Convention Centre, Vancouver; info/register

+ May 14; Reins of Responsibility, Shriners Fez Dome, Calgary; info/registration

+ June 1-3; Operational Excellence in Energy, Chemicals & Resources, BMO Centre, Calgary; info/register

+ June 6;  NSTEP’s Step Up 4 Calgary Kids Race 2020, Fish Creek Park, Calgary; sign up / register / donate

+ June 8-10; NeoCon, theMart, Chicago; info/register - POSTPONED – to be rescheduled

+ June 9-11; Global Energy Show, Stampede Park, Calgary; info/inquiries/register

+ July 3-12; Calgary Stampede, Stampede Park, Calgary; info/tickets

+ 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. 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

~

2021

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

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

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




 SHAREHOLDER MEETINGS

+ Mar. 25; Imagination Park Technologies Inc., Annual General Meeting, Toronto

+ Mar. 26; MPX International Corporation, Annual General Meeting, Toronto (and virtual)

+ Mar. 27; Capital régional et coopératif Desjardins, Annual General Meeting – Montreal  (and virtual)

+ Mar. 28; Desjardins Group, Annual General Meetings – Montreal  (and virtual)

+ Mar. 30; Cargojet Inc., Annual General Meeting of Shareholders, Toronto  (and virtual)

+ Mar. 30; Government of Canada, Budget Speech, House of Commons, Ottawa

+ Mar. 31; Bank of Montreal, Annual Meeting of Shareholders, (virtual only)

+ Apr. 1; Jupiter Resources Ltd., Annual General Meeting of Shareholders, Calgary (and virtual)

+ Apr. 2; Canadian Western Bank, Annual General Meeting, Edmonton  (and virtual)

+ Apr. 2; Toronto-Dominion Bank, Annual Shareholder Meeting, Toronto  (and virtual)

+ April 7; Bank of Nova Scotia, Annual Meeting of Shareholder, Toronto (and virtual)

+ Apr. 8; Royal Bank of Canada, Annual Meeting of Shareholders, (virtual only)

+ Apr. 8; CIBC, Annual Meeting of Shareholders, (virtual only)

+ Apr. 15; Quarterhill Inc., Annual Meeting of Shareholders, (virtual only)

+ Apr. 21; Canadian Pacific Railway Limited, Annual Meeting of Shareholders, (virtual only)

+ Apr. 21; TransAlta Corporation, Annual and Special Meeting of Shareholders, (virtual only)

+ Apr. 23; Calgary Real Estate Board, Annual General Meeting, Calgary

+ Apr. 24; National Bank of Canada, Annual Meeting of Shareholders, (virtual only)

+ Apr. 29; Cenovus Energy, Annual Meeting of Shareholders, Calgary

+ May 5; Parex Resources Inc., Annual General and Special Meeting of Shareholders, Calgary

+ May 5; Sun Life, Annual Meeting of Common Shareholders, Toronto

+ May 6; European Residential REIT, Annual Unitholders Meeting, Toronto

+ May 7; Manulife Financial Corporation, 2020 Annual Meting of Shareholders, (virtual only)

+ May 7; SNC-Lavalin, Annual General Meeting, Montreal

+ May 12; Keyera Corp., Annual Meeting of Shareholders, Calgary

+ May 12; Optiva Inc., Annual and Special Meeting of Shareholders, Toronto

+ May 12; Resolute Forest Products Inc., Annual Meeting of Shareholders, Saguenay

+ May 13; Cardinal Energy Ltd., Annual Meeting of Shareholders, Calgary

+ May 13; TransGlobe Energy Corporation, Annual General and Special Meeting, Calgary

+ May 14; Emera Inc., Annual Meeting of Shareholders, Toronto

+ May 14; Precision Drilling Corporation, Annual and Special Meeting of Shareholders, Calgary

+ May 21; Return On Innovation Fund Inc., Annual General Meeting of Shareholders, Toronto

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

~

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




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  GLOSSARY + ABBREVIATIONS + ACRONYMS 

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 TODAY'S HEADLINES


HEADLINES: Alberta and Canada respond to COVID-19 pandemic | Calgary State of Emergency | Cordy acquisition | Pembina Jordan Cove LNG approval | retailer & restaurant closures | deals + rig counts + upcoming events, appointments + REIT NEWS + ESG reports + financings + quotes + kudos




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THERE HAS NEVER BEEN A BETTER TIME TO NEGOTIATE AN OFFICE LEASE IN CALGARY in the last 20 years, and I doubt we'll see better terms in the next 10 years than we can negotiate now; let's discuss your needs now; please call me at your convenience - Mark Kolke, 403-444-6939 - or send me an email: kolke@markkolke.com to discuss how we can deliver a solid impact on your bottom line. Saving money by reducing costs is sound thinking in any market climate - sometimes a move is in order, sometimes a renegotiation is best.

Mark Kolke, Agent, MaxWell South Star Realty

Commercial Agent | Property Manager /  Consultant | Office, Industrial & Education Facilities Specialist | Public-Private Partnerships (P3) | Commercial Property Sales / Leasing / Land + Residential Sales



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Visit: https://www.incito.ca/
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EXECUTIVE COACHING



 
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 INTERESTING TRENDS IN RETAIL 


+ Amazon suspended operation of its Prime Pantry unit due to heavy demand for essential goods

+ Birks Group Inc. temporarily closed its stores across Canada

+ Boston Pizza International Inc. closed all restaurants and sports bars temporarily; still open for take-out and delivery

+ Fields Stores (FHC Enterprises) heading into court-supervised insolvency workout; MNP is the proposed trustee

+ Gap Inc. closed all its Gap, Old Navy, Athleta, Banana Republic, Janie and Jack, and Intermix stores across North America

+ H&M closed all stores in Canada and U.S. until April 2nd

+ McDonald’s Canada restaurants are closed; no delivery – just drive-through

+ IKEA Canada  temporarily closed all stores in Canada

+ Indigo/Chapters stores are closed until Mar. 27th

+ Ivanhoé Cambridge has closed all its Quebec shopping centres until May 1st

+ Nygard Group in receivership; Richter is receiver

+ RBC is closing some branches temporarily to reduce COVID-19 risk

+ Roots Canada closing its stores until Mar. 31st

+ Second Cup Coffee – now drive-thru, take-out and delivery only

+ Simon, largest U.S. mall owner, closed all its malls

+ Sleep Country Canada closed all its stores temporarily

+ Walmart Canada hiring 150,000 (10,000 in Canada) additional staff to handle store and distribution centre demand

+ White Spot & Triple O’s restaurants suspended dine-in service; still open for take-out and deliver

+ many retailers cutting back on store hours and/or controlling ‘maximum number of customers in-store at any one time’ (i.e.. Best Buy, Costco, Home Depot, and others)




 QUOTES 

+ We must all face the choice between what is right and what is easy. – Albus Dumbledore

+ It is more rewarding to watch money change the world than watch it accumulate. – Gloria Steinem




 KUDOS 

+ to Dr. Deena Hinshaw, Chief Medical Officer of Health for Alberta, for keeping us calm and well advised about COVID-19 – we’ve quickly come to appreciate her steadiness and ability to keep us calm and well informed

+ to First Capital REIT announced a $30.0 million fund program to support their small tenants who have been impacted by COVID-10 shutdowns with rent relief

+ to Labatt Breweries of Canada – switching from making beer to making 50,000 bottles of hand sanitizer

+ to the Calgary Flames Foundation – for their $1.15 million donation to the Calgary Food Bank and other community agencies




 SAVE THE DATE - CHARITY GOLF TOURNAMENTS 

+ June 15; 2020 Peanut Butter Classic, Elbow Springs GC, Calgary; sponsorship,  info/registration

CANCELLED - July 9; 18th Annual Coast Hotels Shuhachi Naito Golf Classic, Tsawwassen Springs Golf Club, Delta, BC; info/register

+ July 15-16; Willow Park Golf and County Club Charity Classic in support of Calgary Reads, Calgary;  info/registration/waiting list

+ Aug. 10; 2020 Legends for Learners Tournament in support of The Education Partnership Foundation, Valley Ridge Golf Course, Calgary; sponsorship - info/register

~

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




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NEWS SUMMARY 
 March 17 ~ 24 / 2020 


+ Alberta COVID-19 statistics: aggregate Alberta data; self-assess if you think you have symptoms; best up-to-date site on cases, deaths, and recoveries by country from Johns Hopkins

+ Alberta Economic Recovery Council members named: Jack Mintz, Chair; Clive Beddoe, Robert Blakely, Brent Belzberg, Bob Dhillon, Chris Fowler, Stephen Harper, Peter Kiss, Zainul Mawji, Nancy Southern, and Mac Van Wielingen

+ Alberta Health Services have re-focused their COVID-19 testing protocol to be in harmony with other provinces

+ Alberta-wide; Premier Kenny declared a provincial state of emergency, non-essential services to close or self-isolate, no gatherings over 25 people; recently retired doctors and nurses are being recruited to help with the case load

+ Athabasca Oil Corporation announced a $30.0 million reduction in its 2020CapEx Budget to $95.0 million

+ Baytex Energy Corp. reduced its 2020CapEx Budget by 50% to $260.0 million

+ Calgary’s State of Emergency status continues; CEMA chief closing playgrounds, urging Calgarians to quit defying social distancing recommendations

+ Canada and the United States agreed to close the border to all but essential traffic: critical supply chains (food, fuel, life-saving medicines), workers crossing to do essential work, and other ‘urgent reasons’.

+ Canada in crisis mode: Prime Minister Trudeau announced $82.0 billion in relief in an Economic Response Plan; $27.0 billion in direct support, $55.0 billion in liquidity support; Trudeau government likely to introduce emergency measure legislation when the House of Commons resumes sitting today at noon, because of inconsistent steps taken by provinces around enforcement of occupancy load, social distancing etc.. $5.0 billion in relief for farmers, and Emergency legislation expected to come forward in parliament today is expect to give the government sweeping powers to tax and spend through to the end of 2021. Also  announced yesterday, $275.0 million in new funding for drug research – of $192.0 million is for new projects by Canadian research labs working on treatment for COVID-19

+ Canadian Natural Resources Limited announced its revised 2020CapEx Budget is $2.96 billion, down from $4.05 billion

+ Canadian Olympic Committee and Canadian Paralympic Committee WILL NOT send athletes to 2020 Summer Games amid international calls to postpone the 2020 Olympics for one year

+ Cardinal Energy Ltd. announced its revised 2020CapEx Budget is $31.0 million

+ CDC guidance; prevent the spread

+ Cordy Oilfield Services Inc. closed its $4.25 million acquisition of Platinum North Resources and Heart River Holdings (2011) Ltd.

+ COVID-19 virus watch: case growth graphic from December till now – updated daily

+ COVID-19 good news department: China closed its last temporary hospital – not enough new cases to sustain it; Canadian scientists are in the thick of it, isolating the virus, working toward viable treatment protocols

+ CURCUIT BREAKER: a term we are all going to be hearing a lot more about; when stock market software oversight of trading identifies too quick a spike, or fall, in prices it triggers stoppages. Sometimes the whole market is paused, and often these stoppages relate only to one stock (i.e., single-stock circuit breaker) in which case IIROC will issue a notice of the stoppage, and of the resumption

+ current energy prices; live link to current Bloomberg energy prices / OilPrice.com; Saudi push for greater market share (they are pumping 10 million bpd) pushing down prices to an 18-yr. low, made worse by COVID-19 economic carnage, prices brutalized. Venezuelan regime is weakened, gas at the pump is cheap but we can’t go anywhere … tic toc

+ Frontera Energy Corporation reduced its 2020CapEx Budget to $130.0 million, a drop of 60%

+ Enerflex Ltd. reduced its 2020CapEx Budget by 57% to $90.0 million

+ Ensign Energy Services Inc. reduced its 2020CapEx Budget to $60.0 million, down from $100.0 million

+ Falkbuilt and Sprung Structures responding to strong demand for modular fast-tracked health care and ICU facilities

+ Husky Energy has suspended construction activity on its West White Rose project due to COVID-19 risk

+ Kelt Exploration Ltd. announced a 36% reduction in its 2020CapEx Budget to $145.0 million

+ Nexia Health Technologies Inc. filed a Notice of Intention under the Bankruptcy and Insolvency Act; A. Farber & Partners Inc. are the trustee

+ Paramount Resources Ltd. announced its revised 2020CapEx Budget is $185.0 million, down 46% from its earlier announcement

+ Pembina Pipeline Corporation reduced its 2020CapEx Budget to $1.2 billion

+ Pembina Pipeline Corporation got U.S. regulatory approval for its Jordan Cove LNG project

+ recession fear on everyone’s mind; Conference Board Spring Outlook

+ rig activity in Canada

+ rig counts (active/working) – U.S.: down 20 to 772 this week; Canada: down 77 to 98 this week; full breakdown

+ Spruce Meadows canceled its Summer Series: there will be no National, Continental, Pan-American or North American equestrian events this year due to the COVID-19 pandemic

+ stock markets continue to roil – worldwide; NYSE trading floor is empty, they’ve gone to fully electronic trading for the first time

+ Suncor Energy Inc. announced its 2020CapEx Budget is reduced $1.5 billion to $3.9 billion, down 26%

+ Tamarack Valley Energy Ltd. announced its revised 2020CapEx Budget is $95.0 million, down from $170.0 million

+ Tokyo 2020 Summer Games; the International Olympic Committee postponed this year’s games (scheduled for July  24 – August 9) to 2021- dates not announced

+ U.S. government expected the launch an economic stimulus package; US$2.0 trillion relief package stalled in the Senate as Republicans and Democrats wrangle/squabble over priorities; meanwhile, officials fear ‘Italy scale’ fatalities in New York and other states with large elderly populations and shortage of ventilators; 13 states are under lock-down instruction from governors, Trump administration waffling on lifting social-distancing decree … tic toc

+ WestJet suspended all flights to the U.S.

+ Whitecap Resources Inc. announced its reduced 2020CapEx Budget is $200.0 million




THIS WEEK IN FINANCINGS 
- proposed & closed

+ Bell Canada is on the market to raise $1.0 billion in debt

+ Intact Financial Corporation is on the market to raise $300.0 million in debt

+ Revive Therapeutics Ltd. closed $1.67 million equity financing by private placement

+ Ridgewood Capital Asset Management Inc. closed $11.919 million equity financing

+ Sienna Senior Living secured $200.0 million unsecured revolving credit facility

+ Summit Industrial Income REIT obtained a $300.0 million unsecured credit facility

~

*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 …




 INFRASTRUCTURE + P3 


+ ENMAX Corporation got regulatory approval to acquire Emera’s Maine electricity transmission and distribution company

+ TransAlta Corporation closed its US$27.0 million acquisition of 29MW cogeneration facility in Michigan




 CONSTRUCTION NEWS + BUILDING INNOVATIONS  


+ BOMA Canada March 16th Webinar Link

+ Infrastructure Ontario and Metrolinx are looking for teams/consortia to construct two long tunnel projects

+ IREM; watch the one-hour March 20th webinar on Managing Properties In The Age Of Coronovirus; and IREM’s Pandemic Guide for Real Estate Managers [15 page PDF download]

+ widespread concerns over projects going forward/government concerns; industry in Canada and U.S. urging cities/regulators to allow construction to continue as ‘essential services’ … tic toc




 INTERESTING REAL ESTATE NEWS FROM OTHER PLACES 


+ Anbang Insurance sold is Netherlands office buildings for US$763.0 million

+ Firm Capital Property Trust closed on its acquisition of a 50% interest ($5.4 million) in a $10.7 million industrial portfolio (Edmonton and Leduc)

+ ICM Asset Management acquired One Glen Lakes office building in Dallas, Tx.; 170,000 sq. ft. building; terms not disclosed

+ Starlight U.S. Multi-Family (No.1) Core Plus Fund agreed to acquire apartment complexes in Austin, TX and Raleigh, North Carolina portfolio – 401 units for US$110.0 million




 INTERESTING TRENDS IN INDUSTRIAL + LOGISTICS REAL ESTATE 


+ Western Speedway property in Langford, BC is on the market For Sale and expected redevelopment as master-planned industrial project; competitive bidding from industrial developers expected




 INTERESTING TRENDS IN OFFICE 


+ Softbank reported to be pulling out of its US$3.0 billion work-out financing to WeWork; Softbank’s earlier US$5.0 billion funding stays in as sunk-money; meanwhile Softbank is widely reported to be selling US$41.0 billion assets to support debt reduction and US$18.0 billion buy-back of its own shares … tic toc




 this week in REITS 


+ Allied Properties REIT agreed to acquire ‘The Landing’, 375 Water Street in Vancouver; circa 1900, 148,355 sq. ft. building; terms not disclosed

+ Maplewood International REIT closed the sale of its Netherlands asset,

+ Summit Industrial Income REIT obtained a $300.0 million unsecured credit facility




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this site last updated June 10, 2025