+ Alim Peerani to Partner @ SMP Engineering

+ Antoine Trongquoy to Interim CFO @ Cominar REIT

+ Ashley Tymko to Communications Specialist @ TC Energy

+ Christian Cook to Academic Director, Academic Development Centre @ Mount Royal University

+ Christopher Riddoch to Regional Sales Exec. @ ePac Flexible Packaging

+ Costa Poulopoulos to Chairman @ The Canadian Real Estate Association

+ Cynthia Carroll to Director @ Pembina Pipeline Corporation

+ Danielle Royston, CEO @ Optiva Inc., resigned

+ David Sherjan to Exec. Producer @ Blue Star Rising LLC

+ Denis King to CEO @ Solace Corporation

+ Geoff Bouckley to Associates @ SMP Engineering

+ Heather Kirk, CFO @ Cominar REIT, resigned

+ Heather Kirk to Sr. VP & CFO @ Selection Group

+ Jacqueline Cole Grabowski to Regional Bus. Dev. Specialist @ RJC Engineers

+ Jonathan Durocher to Pres., Wealth Management @ National Bank of Canada

+ Karen Weaver to Director @ Crombie REIT

+ Katie Black to Chief Revenue Officer @ Firstlight Media

+ Kevin Lynch, Chairman @ SNC-Lavalin, stepping down

+ Mark Dowley, Director @ iAnthus Capital Holdings Inc., resigned

+ Mary Ritchie to Director @ Morien Resources Corp.

+ Matthew O’Dell to Roofing Div. Mgr. @ Parker Johnston Industries Ltd.

+ Paul Hill to Pres. & CEO @ Quarterhill Inc.

+ Paul Parisi to Head, Canada @ Silicon Valley Bank

+ Philip Murphy to VP, Government Affairs @ First Responder Technologies Inc.

+ Rod Miller to Pres. & Interim CEO @ CPHR Alberta

~

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

+ Frank Dabbs; writer/newspaper man, biographer (Ralph Klein, Preston Manning), ghost-writer, friend and writing mentor of mine, 72

+ Jarrett King; Office Leasing Agent, Bedrock Realty Advisors, 32

+ Ron Stanners; co-founder of MaxWell Realty, 73

+ 2019 Job Seeker Survey Report

+ COVID-19: How to relieve employee anxiety

+ is working remotely good for your future?

+ Zoom acquired encryption firm Keybase

+ Alberta announced school, road, and bridge projects

+ Innergex Renewable Energy Inc. closed its US$19.8 million Hillcrest Solar Project (200MW) in Brown County, Ohio

+ Arch Daily’s 2019-2020 design award winners

+ designing for distancing – new ideas for our new reality

+ Governor General’s Awards – outstanding buildings across Canada

+ landlords of office buildings and shopping malls are preparing for phased ‘back to work’ operations; BOMA published ‘Pathway Back To Work’ guidance document (46 page PDF download)

+ Saskatchewan announced a ‘booster-shot’, adding $2.0 billion to its infrastructure spending

+ BentallGreenOak’s Prime Canadian Property Fund acquired 240,000 sq. ft. LEED Gold building in Ottawa’s Train Yards - $97.5 million

+ Hines led JV acquired US$493.0 million Manhattan Mega-project; One Madison Avenue project will involve US$2.3 billion redevelopment project

+ Sidewalk Labs (an Alphabet/Google project) in Toronto’s Quayside area – is dead, for now at least; Google’s leading-edge high-tech district development is shelved due to the COVID-19 pandemic

+ speculation abounds in the think-tank world about the future of ‘the office’; with distancing requirements, working from home, and proliferation of video conferencing tools/services, the need for offices WILL continue, albeit on a reduced basis. Given high vacancy rates in Calgary already, expect the vacancy rate to get worse (for Landlords) before it gets better – and for Tenants, expect terms to get better … tic toc

+ WeWork is implementing changes for post-shutdown operations; new floor layouts, sanitizing stations, reduced capacity …

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HEADLINES: Alberta COVID news | ABTrace APP | Alberta re-opening | crude prices coming up + deals + rig counts + upcoming events, appointments + REIT NEWS + ESG reports + financings + quotes + kudos

+ Total announced its plan to reach net-zero on emissions by 2050

+ U.S. coal-fired electricity generation fell to a 42-year low in 2019; natural gas has become the fuel of choice

+ Bausch Health Companies Inc. is on the market to raise $1.5 billion in sr. unsecured debt

+ Bell Canada is on the market to raise $1.5 billion in secured debt

+ BlueRush Inc. is on the market to raise $1.5 million in unsecured convertible debt by private placement

+ Co-operators Financial Services Limited is on the market to raise $300.0 million in sr. unsecured debt

+ Loblaw Companies Limited closed $350.0 million sr. unsecured debt financing

+ Martello Technologies Group Inc. is on the market to raise $6.0 million in equity

+ Manulife Financial Corporation is on the market to raise $1.0 billion in sub. debt

+ Meduxus Pharmaceuticals Inc. secured US$20.0 million credit facility

+ Return Energy Inc. dba Spartan Delta Corp., completed its $64.0 million equity financings

+ Sun Life Financial Inc. closed $1.0 billion sub. unsecured debt financing

+ Suncor Energy Inc. is on the market to raise US$1.0 billion in sr. unsecured debt

+ Symend closed US$52.0 million equity raise

+ Thomson Reuters is on the market to raise $1.4 billion in unsecured debt

+ Unbun Foods Inc. closed $1.9 million equity 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 …

+ ALDO Group (ALDO, Call It Spring, GLOBO) sought court-ordered CCAA creditor protection to deal with $140.0 million in debt; EY is monitor…

+ another COVID-19 casualty; Army & Navy closing after 101 years – 3 stores in Vancouver, 1 in Edmonton, 1 in Calgary …

+ Brookfield Private Equity Group has launched a plan to help/invest US$5.0 billion in retail companies with a relief plan – will involve debt and equity financing …

+ Lord & Taylor announced plans to fully liquidate all inventory in its 38 stores when they reopen in anticipation of bankruptcy they don’t expect to emerge from …

+ Neiman Marcus filed for Chapter 11 bankruptcy projection; filing disclosed US$5.0 billion in debt

+ Nordstrom is planning staged/phased approach to reopening its stores; also they announced plans to permanently close 16 (all in the U.S.) of their 116 stores

+ Victoria’s Secret sale to Sycamore Partners is off; L Brands now plan to spin-off Victoria’s Secret and related business units to shareholders

+ Tough times don’t last. Tough people do. I preach that, and I guess you have to live to it. – Julian Edelman

+ A pessimist is one who makes difficulties of his opportunities and an optimist is one who makes opportunities of his difficulties. – Harry S. Truman

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

+ Accenture acquired Callisto Integration

+ Alberta COVID-19 stats: 117 deaths so far: 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

+ 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 -

+ Alberta-wide; group gatherings limited to fifteen (15); public health orders. All Albertans with symptoms of COVID-19 are eligible to be tested, Calgarians without symptoms can now get tested

+ Alberta ‘gradual re-opening’ starting May 14^th;  … conditions for relaunch – Opening Soon (14 page PDF download)

+ ARTIS REIT completed its strategic review process; no actions planned at this time

+ ATB Financial launched ATB Private Equity Limited Partnership; $50.0 million committed to providing minority interest equity to Alberta businesses

+ Bank of Canada published: COVID-19 and Beyond

+ Calgary shopping malls preparing for re-opening May 14^th or soon thereafter – unclear how many retailers will re-open, or when; Landlords are anxious to get rents flowing, Retailers anxious to get staff back and make the cash register ring … tic toc

+ Calgary’s State of Emergency status continues; parks are open provided users practice safe-distancing – Mayor Nenshi reluctant to open as quickly as the Premier’s formula allows – says May 14^th may be too soon … tic toc

+ Canada: the Prime Minister announced LEEFF (Large Employer Emergency Financing Facility), a bridge financing vehicle for large employers who cannot get conventional financing to weather the COVID-19 storm; also expanding the BCAP (program for midsize companies through Export Development Canada and BDC) ; CECRA (Canada Emergency Commercial Rent Assistance) program, designed to stem evictions, is getting spotty uptake – landlords without mortgages are ineligible, gov. provides 50% of rent if tenant is eligible (business must be down 70%) pays 25% and landlord forgoes 25%. The criteria is reported to be ‘changing’ but no announcements yet – but clearly this program was not designed by the industry …

+ Centric Health Corporation closed its acquisition of Remedy Holdings Inc.

+ CDC guidance; prevent the spread

+ COVID-19 virus watch: case growth graphic from December till now – updated daily; worldwide death total is over 286,800 deaths, 4.2 million identified cases; 5,115 deaths in Canada

+ current energy prices; live link to current Bloomberg energy prices / OilPrice.com; WTI and Brent crude prices coming back based on some solidarity among producing countries to curtail production; meanwhile U.S. fracturing firms are reported to be ‘coming back into the market when WTI reaches US$30/bbl … but nothing is certain, though ‘gradual reopening’ U.S. and Canadian economies have injected optimism, and Saudi promises to reduce output another 1.0 million/bpd starting June 1 is encouraging … tic toc

+ INEO Tech Corp. closed its acquisition of Newman Loss Prevention in an all shares transaction

+ JMB Crushing Systems Inc. got CCAA protection; ATB providing $900K in DIP (debtor in possession) financing

+ Murphy Oil Corp. closing its Calgary offices; also closing its Eldorado, Arkansas office – consolidating operations in Houston

+ Parkland Fuel Corporation is changing its name to Parkland Corporation

+ Peloton Computer Enterprises Ltd. acquired ExproSoft; terms not disclosed

+ rig activity in Canada

+ rig counts (active/working) – U.S.: down 34 to 374 this week; Canada: down 1 to 26 this week; full breakdown

+ Saudi Aramco is negotiating to alter or back out of if its deal to acquire 70% of SABIC; the petrochemicals giant has seen its shares drop 40% since it entered into the deal … boo-hoo!

+ U.S. COVID-19 news: projected cases, deaths now double earlier predictions, Trump disbanding task-force; now predicting 3,000 deaths/day in June …

+ May 12; AKITA Drilling Ltd., Annual Meeting of Shareholders, (virtual only)

+ May 12; Innergex Renewable Energy Inc., Annual General Meeting of Shareholders, (virtual only)

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

+ May 12; MCAN Mortgage Corporation, Annual General Meeting, (virtual only)

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

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

+ May 12; Surge Energy Inc., Annual General Meeting, (virtual only)

+ May 12; TVA Group. Inc., Annual General Meeting, Montreal, (and virtual)

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

+ May 13; Genesis Land Development Corp., Annual General Meeting, Calgary

+ May 13; Summit Industrial Income REIT, Annual General Meeting of Unitholders, Dartmouth, NS (and virtual)

+ May 13; Tamarack Valley Energy Ltd., Annual General & Special Meeting, (virtual only)

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

+ May 14; Akumin Inc., Annual and Special Meeting of Shareholders, (virtual only)

+ May 14; Crescent Point Energy Corp., Annual and Special Meeting of Shareholders, (virtual only)

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

+ May 14; Invesque Inc., Annual General Meeting, Carmel, Indiana (and virtual)

+ May 14; Leon’s Furniture Limited, Annual Meeting of Shareholder, Toronto (and virtual)

+ May 14; Parex Resources Inc., Annual General Meeting, (virtual only)

+ May 14; Precision Drilling Corporation, Annual and Special Meeting of Shareholders, (virtual only)

+ May 14; Quebecor, Annual Meeting of Shareholders, (virtual only)

+ May 14; Shawcor Ltd., Annual Meeting of Shareholders, (virtual only)

+ May 15; First National Financial Corporation, Annual Meeting of Shareholders, (virtual only)

+ May 20; Frontera Energy Corporation, Annual General and Special Meeting of Shareholders, Toronto (and virtual)

+ May 21; Economical Mutual Insurance Company, Annual Meeting, (virtual only)

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

+ May 21; Pine Cliff Energy Ltd,, Annual General Meeting, Calgary (and virtual)

+ May 26; Horizon North Logistics Inc., Special Meeting of Shareholders, Calgary

+ May 26; West Fraser Timber Co. Ltd., Annual General Meeting, Vancouver (and virtual)

+ May 28; Maplewood International REIT, Special Meeting of Unitholders, Mississauga

+ May 28; The Wawanesa Mutual Insurance Company, Wawanesa, MB

+ May 28; The Wawanesa Mutual Life Insurance Company, Wawanesa, MB

+ June 5; Emera Inc., Annual Meeting of Shareholders, Halifax

+ June 8; BTB REIT, Annual Unitholders Meeting, (virtual only)

+ June 11; SIR Royalty Income Fund, Annual General Meeting of Unitholders, (virtual only)

+ June 12; Arrow Capital Management Inc., Special Meeting of Unitholders, Toronto

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

+ 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)

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

~

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

+ ARTIS REIT completed its strategic review process; no actions planned at this time

+ Summit Industrial Income REIT sold its interest in a GTA Data Centre; booked $21.0 million gain

+ to those who are helping their communities during the COVID-19 pandemic: National Bank of Canada, $500,000 to mental health organizations; Clearly, 60,000 face shields and 1,000 safety glasses; RBC Foundation, $1.3 million to youth mental health; Equitable Life of Canada, $4.6 million to health care projects; TC Energy Corporation, $5.0 million for relief efforts; Ledcor Industries, $400.000 to food banks; Canadian Medical Association Foundation, $10.0 million

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