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FACILITYCalgary June28/22

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SHAKERS AND MOVERS 
appointments and disappointments 

+ Analea Wayne to Change Consultant @  Levvel Inc.

+ Brad Tennant to Exec. Dir. @ United Conservative Party

+ Craig Gilchrist to Interim Head @ ScotiaMcLeod Inc.

+ Darlene Cadman to Project Mgr. @ SPS + Architects

+ Dr. Robert Westbury to Director @ Imperial Equities Inc.

+ Gerry Melenka to Dir. Development & Infrastructure @ Town of Turner Valley

+ Heather Morley to Executive Director @ Inn from the Cold

+ Janice Harrington, Exec. Dir. @ United Conservative Party, resigned

+ Jody Crowe to Communications Mgr. @ Mark’s

+ Joey Comeau to COO & Exec. VP Capital @ EllisDon

+ John Adams to PDMS/E3D Administrator @ Worley

+ Laetitia Pacuad to COO @ Epic Investment Services

+ Mark Reid to Interim CEO @ SDX Energy Inc.

+ Melani Matuszak to Account Executive @ Bell Media

+ Michael Vels to CFO @ Empire Company Limited

+ Natalie Shelby-James to Sr. Tech. Advisor, Land Priority @ Canada’s Oil Sands Innovation Alliance

+ Patrick Martins to Director of Development @ Canadian Urban Limited

+ Paul Jewer to CFO @ Toromont Industries Ltd.

+ Paul Welch, Director, Pres. & CEO @ SDX Energy Inc., resigned

+ Pierre St-Laurent to COO@ Empire Company Limited

+ Praveen Gupta to CFO & Secretary @ Cliffside Capital Ltd.

+ Sony Gill to Partner, Capital Markets, Mergers & Acquisitions @ Stikeman Elliott

+ Todd Stack to CFO @ TransAlta Corporation

+ Walter Fredericksen to Director of Operations – Matting @ Blackwoods Energy Services

~

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




 MEMORIAM

+ Robert Calvert QC, lawyer and board chair @ Legal Aid Alberta; 69




 HUMAN RESOURCES + WORKPLACE TRENDS 

+ world’s 41 best hotel rooms, from Beverly Hills to Beijing

+ one-fifth of corporate directors are female – StatsCan report




 QUOTES 

+ When we practice loving kindness and compassion, we are the first ones to profit. – Rumi

+ Tenderness and kindness are not the signs of weakness and despair, but manifestations of strength and resolution. – Kahlil Gibran




  KUDOS  

+ to Senator Paula Simons – for her hard work and success lobbying against Bill C-69 and Bill C-48




 CLIMATE CHANGE + LEED + RENEWABLE ENERGY 

+ Medicine Hat shutting down its solar thermal power plant after five years; $12.0 million plant is more expensive the providing power by natural gas




  GLOSSARY + ABBREVIATIONS + ACRONYMS 

+ ABS – Asset Backed Securities

+ 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

+ DAB – Development Appeal Board

+ DILBIT – diluted bitumen

+ 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

+ FEED – front-end engineering and design

+ 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

+ IMCO – Investment Management Corporation of Ontario

+ IPO – Initial Public Offering

+ ISO – International Organization for Standardization

+ 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

+ MOA – Memorandum of Agreement

+ 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

+ ROFR – right of first refusal

+ 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




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current week data

this  site is refreshed with a new issue every Tuesday


updated May 21, 2019




 TODAY'S HEADLINES


HEADLINES: Alberta legislature opens today | AltaGas terminal | High Level evacuation | Keyera pipeline | Osbidian asset sale + deals + rig counts + upcoming events, appointments, Golf Tournaments + REIT NEWS + financings




CONVERSATIONS

FACILITYCalgary Publisher 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:

Last week's conversation with Shannon Bowen-Smed, CEO @ Bowen Group

A recent conversation with Carol Kitchen, Pres. & CEO @ UFA (United Farmers of Alberta)

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



 sponsors of this week's issue:

click to contact: Trevor Winkler, Regional Managing Partner, Calgary
 
ACCCOUNTING, CONSULTING, TAX



e-mail Lance Laliberte - Sales at PREMIERE OFFICE FURNITURE
 
NEW AND USED OFFICE FURNITURE



e-mail Elaine Evans
 
FURNISHED EXECUTIVE RENTAL SUITES



Partner with us for your CSR or employee giving program, and join us in the global fight against avoidable blindness - e-mail Lynne Nieman, Partnerships Officer
 
SUPPORTING VISION PROJECTS WORLDWIDE



RETAINED EXECUTIVE SEARCH - For more information, click here.



e-mail Peter Gatzsch
 
COMMERCIAL INTERIOR CONSTRUCTION



PUT YOUR 
COMPANY HERE
 Advertising/sponsorship queries:  kolke@facilitycalgary.com 
SEE YOUR 
BRAND HERE



 
DATA CENTRE

e-mail: Carol.Keen@DataHive.ca



e-mail Lance Laliberte - Sales at PREMIERE OFFICE MOVERS
 
OFFICE MOVERS



e-mail Grant Robinson, Managing Director, Calgary
 
RISK & INSURANCE SOLUTIONS



CONTACT US
SALES COACHING



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



 


CLICK HERE TO GET MARK'S HOME SEARCH APP FOR YOUR MOBILE PHONE - search any MLS listing you see, get information and/or book a showing without making a call - check it out! It's new and aVERY cool tool.

CONTACT MARK KOLKE 
RESIDENTIAL SALES



 SAVE THE DATE - CHARITY GOLF TOURNAMENTS 

+ May 21; MOC Summit Golf Tournament for MBI Canadian Foundation, Fairmont Banff Springs GC, Banff; info/register

+ June 7; 4th Annual Jann Arden Charity Tournament, Silvertip Resort, Canmore; info/registration

+ June 9; 4th Annual Max Robinson Children’s Foundation, Crystal Ridge GC, Okotoks; info/register

+ June 20; Ambrose University 2019 Golf Classic, Glen Eagles, Cochrane; info/register

+ June 20; 26th Annual IFMA Calgary Open, Blue Devil Golf Club, Calgary; info/register

+ June 24; Special Olympics Calgary – 20th Annual Golf Classic; save the date / details coming soon

+ July 11; 17th Annual Coast Hotels Shuhachi Naito Golf Classic, Tsawwassen Springs Golf Club, Delta, BC; info/register

+ July 16; Willow Park Charity Golf Classic, Willow Park G&CC, Calgary; info/details

+ Aug. 1; SAIT Centennial Golf Classic, Priddis Greens, Priddis; info/details

+ Aug. 13-15; Priddis Greens Charity Classic, Priddis Greens G& CC, Priddis; info/details

+ Aug. 15; CHAS (Children;s Hospital Aid Society) 37th Golf Classic, Silver Springs Golf Club, Calgary; info/registration

+ Sept. 4; Little Warriors 4th Annual Golf Tournament, The Quarry, Edmonton; info/register

+ Sept. 5; 2019 Enmax BOMA Golf Tournament, Kananaskis Country GC, Kananaskis; info/register

~

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




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NEWS SUMMARY 
 May 14 ~ 21 


+ Alberta government watch: spring session starts today; throne speech at 3:00PM tomorrow … tic toc

+ AND, Ottawa watch: actions by Senate committees and Alberta Senators holding sway with their colleagues and Trudeau government: Bill C-69 (major projects environmental assessment process) will likely seen many changes (187 amendments) while Bill C-48 (west coast tanker ban) may be amended, delayed or scrapped altogether … tic toc

~

+ Air Canada agreed to acquire Transat AT. Inc. (Air Transat) for $520.0 million

+ AltaGas Ltd. set to open its $500.0 million Ridley Island propane export terminal; AltaGas hold 70%, Royal Vopak have 30%

+ current energy prices; live link to current Bloomberg energy prices / OilPrice.com; steady prices as trade issues remain unresolved

+ Foresters Financial sold Foresters Asset Management Inc. to Fiera Capital Corporation

+ High Level evacuation; 4,000 people evacuated as fire threatens the town; similar problem for hamlet of Marlboro whose residents fled to Edson

+ iugoWerx rebranded/changed name to Levvel Inc.

+ Keyera Corp. announced it will go forward with its $1.3 billion Montney/Duvernay to Fort Saskatchewan natural gas pipeline; partners are SemCAMS Midstream ULC and KKR

+ Obsidian Energy Ltd. agreed to sell a 55% interest in its Peace River Oil Partnership to Highwood Oil Company Ltd. for $97.0 million

+ rig activity in Canada

+ rig counts – U.S.: down 1 to 987 this week; Canada: holding steady at 63 this week; full breakdown

+ Southern Energy Corp. closed $640,000.0 sale of its Canadian assets

+ Weatherford International Plc announced it will file for Chapter 11 bankruptcy protection




THIS WEEK IN FINANCINGS 
- proposed & closed

+ Algonquin Power & Utilities Corp. is on the market to raise US$350.0 million in subordinated debt

+ DelphX Capital Markets Inc. is on the market to raised $1.5 million in secured convertible debt

+ EnerDynamic Hybrid Technologies Corp. is on the market to raise $2.5 million  in equity

+ Genworth MI Canada is on the market to raise $100.0 million unsecured debt financing

+ Neovasc Inc. closed a US$11.5 million in convertible debt

+ Northview Apartment REIT is on the market to raise $75.0 million equity financing

+ Polaris Infrastructure is on the market to raise $20.0 million in convertible debt by private placement

+ Seaspan Corporation closed $1.0 billion debt financing

+ We Co. (WeWork) sub. Ark (JV with Ivanhoe Cambridge) raised US$2.9 billion in debt

~

*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 …




 INTERESTING TRENDS IN RETAIL 


+ Holt Renfrew closing it’s Manulife Place store in Edmonton …




 SAVE THE DATE / upcoming events

+ May 21; Government of Alberta; first session of 30th Alberta Legislature

+ May 25; Publishing Means Business workshop, Alastair Ross Technology Centre; info/register

+ May 27-29; Williston Basin Petroleum Conference, Delta by Marriot Regina, SK; info/register

+ June 3-4; 2019 Oil Sands Innovation Summit, Hyatt Regency, Calgary; info/register

+ June 4-6; 2019 OpEx, Hyatt Regency, Calgary; info/register

+ June 4-6; Western Manufacturing Technology Show, Edmonton Expo Centre; info/registration

+ June 5-7; Alberta Innovates, Inventure$ 2019, Calgary Telus Convention Centre; info/tickets

+ June 8; 2019 Alberta Literary Awards and Gala, Coast Edmonton Plaza Hotel, Edmonton; info/tickets

+ June 10; Canadian Global Exploration Forum, 2019 Annual Conference, The Hudson, Calgary; info/register

+ June 10-12; NeoCon, The Mart, Chicago; info/register

+ June 11-12; Downstream 2019, George Brown Conv. Center, Houston; info/register

+ June 11-13; Global Petroleum Show 2019; Stampede Park, Calgary; info/register

+ June 18; S&P Global Platts Calgary Oil & Energy Forum, Calgary Marriott Downtown, info/register

+ July 5 – 14; Calgary Stampede, Stampede Park; info/tickets

+ July 12; Oxford STOMP, Shaw Millennium Park; info/tickets available April 18th…

+ Sept. 2-4; World Heavy Oil Congress & Exhibition, Oman Convention Centre, Muscat, Oman; info/register

+ Sept. 9-11; BOMEX 2019, St. John’s, Nfld.; info/sponsor/register

+ Sept. 17-19; Gastech Exhibition & Conference, Houston, Texas; info/registration

+ Sept. 19; Uncorking Potential fundraiser (formerly known as the Peter Gzowski Invitational) for canLEARN Society, Fort Calgary, Calgary; info/tickets

+ Oct. 1; Workforce Choice Awards, Jack Singer Concert Hall, Calgary; info/tickets

+ Nov. 11; ADIPEC – Abu Dhabi International Exhibition and Conference; info/book space in Canada pavilion

+ Nov. 20-24; 2019 Grey Cup Festival; tickets/information


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



 this week in REITS 


+ Northview Apartment REIT agreed to acquired a 161 suite property in Guelph, ON property for $53.0 million

+ Northview Apartment REIT is on the market to raise $75.0 million equity financing

+ Summit Industrial Income REIT completed its internalization of asset and property management




 SHAREHOLDER MEETINGS

+ May 22; Stuart Olson Inc., Annual and Special Meeting, Calgary

+ May 23; Bellatrix Exploration Ltd., Annual and Special Meeting, Calgary

+ May 23; BSM Technologies Inc., Special Meeting of Shareholders, Toronto

+ May 23; Mosaic Capital Corporation, Annual General Meeting, Calgary

+ May 23; Wawanesa Mutual Insurance Company, Annual Meeting, Wawanesa, MB

+ May 27; Calgary Zoological Society, Annual General Meeting, ENMAX Conservatory, Calgary Zoo

+ May 28; VIA Rail Canada, Annual Public Meeting, Montreal

+ June 4; Strad Energy Services Ltd.

+ June 7; Skylon Growth & Income Trust, Special Meeting of Unitholders, Toronto

+ June 13; Africa Energy Corp., Annual General and Special Meeting, Vancouver

+ June 13; Cap REIT, Annual Unitholders Meeting, Toronto

+ June 18; Eagle Energy Inc., Annual Meeting, Calgary

+ June 19; Street Capital Group Inc., Annual General Meeting, Toronto

+ June 20; Cliffside Capital Ltd., Annual General Meeting, Toronto

~

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




 CONSTRUCTION NEWS + INNOVATION 

+ mass timber project proposed for Victoria

+ Pomerleau, SNC-Lavalin and Keiwit – won $2.5 billion Montreal Airport report




 INFRASTRUCTURE / P3  


+ Premier Jason Kenny has spoken enthusiastically about P3 solutions for projects; he was speaking about a future plans for Edmonton’s LRT expansion. He said, "We're going to be very aggressive about pursuing P3s to bring private sector capital into helping to build public infrastructure." 

+ Reader Rock Garden designated a Place of Historic Significance by Government of Canada

+ SNC-Lavalin cancelled its pending sale of a 10.01% interest in 407 International Inc. (Highway 407 ETR) to OMERS; CPPIB exercised its right of first refusal (ROFR). Sale will be delayed because Cintra Globe S.E. (Ferrovial sub) another shareholder is also claiming ROFR rights, which are in dispute … tic toc




 INTERESTING REAL ESTATE NEWS FROM OTHER PLACES 


+ Bentall Kennedy (acting for Oxford Properties and PPIB) acquired 1.0 million sq. ft. property (1250 René-Lévesque) in Montreal for $450.0 million

+ Hyatt Hotels Corporation announced their intentions to triple their brand presence in Canada – will open and/or flag 20 new Hyatts in Canada by 2022


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