FACILITYCalgary

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

FACILITYCalgary June28/22

CONVERSATIONS

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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 Dr. David Docherty  , President of Mount Royal University

Last week's conversation with Dr. Jessica Simon , Palliative Care Physician

And, click here to access archived conversations with fascinating people ...



 SHAREHOLDER MEETINGS


+ Mar. 31; Bank of Montreal, Annual Meeting of Shareholders, Toronto

+ Apr. 1; Laurentian Bank of Canada, Annual Meeting of Shareholders, Montreal

+ Apr. 9; The Bank of Nova Scotia, Annual and Special Meeting of Shareholders, Ottawa

+ Apr. 10; Royal Bank of Canada, Annual and Special Meeting of Common Shareholders, Toronto

+ Apr. 15; National Bank of Canada, Annual Meeting of Common Shareholders, Drummondville

+ Apr. 16; Calgary Airport Authority, Annual Public Meeting, Calgary

+ Apr. 21; Calgary Chamber of Commerce, Annual General Meeting, Calgary

+ Apr. 21; Canadian National Railway Company, Annual General Meeting of Shareholders, Memphis, TN

 + Apr. 21; Celistica Inc., Annual General Shareholders Meeting, Toronto

+ Apr. 23; CIBC, Annual General Meeting, Calgary

+ Apr. 29; Choice Properties REIT, Annual Meeting of Unitholders, Toronto

+ May 7; Lundin Petroleum AB, Annual General Meeting, Stockholm, Sweden

+ May 11; Cathedral Energy Services Ltd, Annual and Special Meeting, Calgary

+ May 12; Karnalyte Resources Inc., Annual General and Special Meeting of Shareholders, Saskatoon

+ May 14; Genesis Land Development Corp.; Annual General Meeting, Calgary

+ May 21; Emera Inc., Annual Meeting of Shareholders, Saint John

+ May 21; High North Resources Ltd.; Extraordinary Meeting of Debentureholders, Calgary

+ May 26: Legacy Oil + Gas Inc., Annual General Meeting, Calgary

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

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




 SAVE THE DATE / upcoming events

+ April 8-10; Economic Developers Alberta 2015 Annual Professional Conference & AGM, Delta, Kananaskis, AB; info/register

+ April 9; Vancouver Real Estate Forum, Vancouver Convention Centre, Vancouver

+ May 14; Edmonton Real Estate Forum, Shaw Conference Centre, Edmonton

+ May 19-21; Canada LNG Export Conference & Exhibition, TELUS Convention Centre, Calgary

+ May 24-27; Banff Compass 2015; Association of Fundraising Professionals, Banff

+ June 2; Calgary Leasing Conference, TELUS Convention Centre, Calgary

+ June 9-11; Global Petroleum Show 2015; Stampede Park, Calgary info/register

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

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

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



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

+ Brian Jean to Leader @ Wildrose Party/Leader of The Official Opposition, Alberta Legislature; says he’s pursue election in Fort McMurray/Conklin riding in next election

+ Brad Cutsey to Pres. @ InterRent REIT

+ Chris Law to CFO @ Seven Generations Energy Ltd.

+ Chris Turchansky to Pres. ATB Investor Services @ ATB Financial

+ Curt Ziemer to VP Finance & CFO @ LGX Oil +  Gas Inc.

+ Doug Murphy to Pres. & CEO @ Corus Entertainment Inc.

+ Harry Cupric, CFO @ Seven Generations Energy Ltd., resigned

+ James Shockney, CFO @ Rooster Energy Ltd., died

+ John Cassaday, Pres. & CEO @ Corus Entertainment Inc., retired

+ Kevin Johnston to VP Accounting @ Seven Generations Energy Ltd.

+ Kyle Brenner to Corporate Counsel @ Seven Generations Energy Ltd.

+ Louise Gallagher to Director, Communications @ Calgary Homeless Foundation

+ Matt Janisch, VP Finance & CFO @ LGX Oil + Gas Inc., left the company

+ Neil Petroff, Exec. VP & Chief Investment Officer @ Ontario Teachers’ Pension Plan, retiring

+Steve Simpson, Chief Sales Officer-Key Accounts @ Ritchie Bros. Auctioneers, resigned


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




BOARDROOM changes, purges, appointments etc.

+ Vincent Cheung to Director @ Vital Energy Inc.




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 QUOTES


+ If a man insisted always on being serious, and never allowed himself a bit of fun and relaxation, he would go mad or become unstable without knowing it. – Herodotus

+ True relaxation, which would do me the world of good, does not exist for me. – Gustav Klimt


FACILITYCalgary
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this  site is refreshed with a new issue every Tuesday morning


updated ... March 31, 2015




 TODAY'S HEADLINES


Airport terminal delayed 1 year | ConocoPhillips selling assets | Future Shop closures | GOA Budget details | oil price down as Iranian deal deadline approaches | Prentice Watch + David Docherty interview | upcoming events & corp. meetings + financings + executive and board appointments >>>>




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 sponsors of this week's issue:

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CONTACT PIVOTAL
 
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e-mail Lance Laliberte - Sales at PREMIERE OFFICE MOVERS
 
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kevin.ellis@altusgroup.com
 
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e-mail to Sharon Martens
 
INTERIOR DESIGN



INTERESTING REAL ESTATE NEWS, other places


+ Blackstone agreed to acquire 95% interest in Times Square office building in London, UK; 380,000 sq. ft. building for US$400 million

+ Carey Watermark Investors Inc. acquired the Westin Pasadena (350 rooms) for US$142.5 million

+ Ivanhoe Cambridge and Callahan Capital Properties acquired 40% of 515 North State Street, Chicago for US$55 million’ 29-storey, 654,000 ft2

+ Pure Industrial REIT closed $11.1 million sale of 4 Ontario buildings

+ Tricon Capital Group Inc.’s sub. agreed to acquired 1,400 single-family rental homes portfolio in North Carolina, South Carolin and Texas; price not disclosed

+407 International Inc. closed $150 million debt financing




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NEWS SUMMARY 
 Mar. 24 - 31 


+ ATB Financial – THE OWL … Daily Economic Comment

+ Best Buy closing ‘Future Shop’ branded stores, rebranding 65 as Best Buy, closing 66 altogether leaving 192 stores

+ Blackrock Inc. and First Reserve Corp. agreed to acquire 45% interest in two ‘under construction’ Mexican pipelines from Pemex; terms not disclosed

+ Calgary Airport – International Terminal completion delayed; the Calgary Airport Authority now predicts an opening in fall  2016 rather than fall 2015 as earlier announced

+ Connacher Oil and Gas Limited got shareholder and noteholder approval for its recapitalization plan

+ ConocoPhillips put 20% of its non-oilsands western Canada assets on the block; engaged advisors to market 35,000 BOE/D 

+ Dow Chemical agreed to divest its chlorine business; merging with Olin Chemical nets US$5 billion to Dow

+ current energy prices: live link to Bloomberg.com commodities data ; volatility in oil prices due to Iran-U.S. nuclear negotiations and Yemen conflicts possibly disrupting shipping lane activity; if Iran nuclear deal happens, oil-trade sanctions will likely be lifted, increasing supply in an already glutted market (storage in Edmonton, Hardisty & Cushing approaching all-time highs) 

+ Extendicare Inc. adopted and advance notice by-law

+ Harvest International New Energy Inc. sub. agreed to acquire Alter NRG Corp. for $147 million

+ GASFRAC Energy Services Inc. got CCAA court approval for its asset purchase to continue operations under supervision of trustee

+ Genesis Land Development Corp. adopted an advanced notice by-law

+ Heinz is buying Kraft in US$75 Billion merger/takeover; seems they are now ’58 varieties’ (Heinz, 3G & Warren Buffett will have 51% of Kraft)

+ Legacy Oil + Gas Inc. announced its 2015 CapEx Budget is $182 million

+ LPI Corp. announced it will develop a 12-storey office tower on the site of the North-West Traveler’s Building (5Ave & 1st St. NE)

+ Marquee Energy Ltd. closed its acquisition of Michichi area assets

+ Marquee Energy Ltd. closed its $20 million production volume royalty sale

+ MEG Energy Corp. adopted an advanced notice by-law

+ Petromanas Energy Inc. adopted an advance notice by-law

+ Prentice watch: Danielle Smith defeated in contested nomination, budget debate commenced – big deficit, across the board spending cuts; 59 increased fees & taxes – and massive increases in debt planned, more talk of ‘needing a mandate’, seems more and more like a shell game to extinguish opposition completely and then re-think borrowing/spending – Ralph Klein must be spinning in his grave

+ Royal Dutch Shell is moving oil drilling rigs to Alaska for 2015 drilling season in anticipation of securing permits for earlier work plans stalled by environmentalist protests

+ TeraGo Inc. closed its $33 million acquisition of RackForce Networks Inc.




FINANCINGS - proposed & closed

+ Africa Energy Corp. closed US$4,223,200 equity raise

+ Air Canada closed US$1,031,390,000 debt financing

+ Bell Canada is on the market to raise $500 million  in med-term debt

+ Canadian Apartment Properties REIT closed $154,706,750 equity financing

+ Ceiba Energy Services Inc. secured $15 million credit facility

+ Firm Capital Mortgage Investment Corporation closed $980,000 equity raise

+ Kivalliq Energy Corporation is on the market to raise $2.7 million in equity

+ Peyto Exploration & Development Corp. is on the market to raise $150 million in equity

+ RioCan REIT is on the market to raise $175 million in an unsecured debt financing

+ Secure Energy Services Inc. closed $198 million equity financing

+ Shaw Communications Inc. secured US$ 395 million term loan

+ TELUS Corporation closed $1.75 billion in sr. unsecured debt financing

+ US Buyback Leaders Fund closed $53 million IPO

+ ViaWest Inc. secured US$85 million credit facility

+ 407 International Inc. closed $150 million debt financing




 this week in REITS 


+ Brad Cutsey to Pres. @ InterRent REIT

+ Canadian Apartment Properties REIT closed $154,706,750 equity financing

+ Pure Industrial REIT closed $11.1 million sale of 4 Ontario buildings

+ RioCan REIT is on the market to raise $175 million in an unsecured debt financing




 INFRASTRUCTURE / P3 / GREEN


+ Calgary Airport – international terminal completion delayed; the Calgary Airport Authority now predicts an opening in fall  2016 rather than fall 2015 as earlier announced.

+ Government of Alberta budget calls for $3.4 billion to be spend on health facilities over next five years; planning a 2-site approach for long promised Calgary Cancer Facility; South Campus & Foothills will be the sites … tic toc ..




 SAVE THE DATE / GOLF TOURNAMENTS

+ June 8, IFMA Annual Golf Tournament, Inglewood Golf Course
+ Aug. 13; 10th Annual CREW Golf Tournament, Sirocco Golf Club, Calgary; info/register




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