+ Andrew Lo to Pres. @ Financeit Canada Inc.

+ Anthony Marino, Director, Pres, & CEO @ Vermilion Energy Inc., departed the company

+ Brooks Shughart, Director @ PetroShale Inc., stepped down

+ Chris van der Beek to Director, European Operations @ Becht

+ Christopher Ames to VP Finance & CFO @ High Arctic Energy Services Inc.

+ Curtis Hicks to Pres. @ Vermilion Energy Inc.

+ Dave White to Sr. Solutions Architect @ Mobile Technology Innovations Inc.

+ Denis Berthiaume to Director @ Assuris

+ Dion Degrand to Lead, Calgary Investment Banking Team @ Raymond James Ltd.      

+ Dominique Hussy to Vice-Chair and Toronto Managing Partner @ Bennett Jones

+ Dustin van Vugt to Exec. Director @ United Conservative Party of Alberta

+ Eileen Marikar to Sr. VP & CFO @ Keyera Corp.

+ Gary Reaves to Directors @ PetroShale Inc.

+ Jacqueline Ricci to Director @ Pine Cliff Energy Ltd.

+ Joyce Franke to Property Mgr. @ Edon Management

+ Kathie English to Board Chair @ Canadian Journalism Foundation

+ Katie Fasken to Managing Director @ Slate Asset Management L.P.

+ Liz Brown to Sr. Project Mgr. @ ATCO Group

+ Lorenzo Donadeo to Exec. Chairman @ Vermilion Energy Inc.

+ Paula Madoff to Director @ Power Corporation of Canada

+ Sebastian Picardo to Pres. & CEO @ Holt, Renfrew & Co. Limited

+ Siim Vanaselja to Director @ Power Corporation of Canada

+ Steven Kroeker, CFO @ Keyera Corp., stepped down

+ Tewfik Atia to National VP Operations – Environment, Canada @ WSP

+ Wayne O’Connor to Pres. & CEO @ ENMAX Corporation

~

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

+ BOMA Canada – Pathway Back To Work Guide

+ most Canadians are comfortable with the pace of recovery; prairies and Quebec not so sure

+ Shopify is going digital … aiming for 100% work from home

+ Alberta COVID-19 stats: 138 deaths, 6,879 cases so far: aggregate Alberta data

+ 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

+ Canada and the United States have mutually agreed to extend the border closing for non-essential traffic for another month – now set to expire June 21, 2020

+ Economical Insurance published its 2019 Public Accountability Statement

+ GFL Environmental Inc. published its Inaugural Sustainability Report

+ Calgary’s GreenLine LRT plan is evolving; now looking at a bridge over Prince’s Island (that sounds like a non-starter!), and a shorter tunnel … tic toc

+ WindRiver Power Corp. is partnering with TC Energy Corp. to develop a thermal power project adjacent to the shuttered Obed Mountain thermal coal mine; the $200.0 million project will produce 75MW using a pumped hydro storage technology. TC Energy is working on a similar, though larger, project at Meaford, ON ($3.3 billion/1,000MW plant)

+ Apple Inc. is re-opening some stores this week; 25 across the U.S., 12 in Canada

+ Pier 1 Imports has decided to liquidate after not finding a buyer; will permanently close 540 stores in U.S. and Canada

+ Reitmans (Canada) Limited secured court-supervised CCAA protection; Ernst & Young Inc. is the monitor and will assist Reitmans with its restructuring plan

+ Retail Council of Canada is lobbying for governments to order a moratorium on evictions for non-payment of rent

+ Stokes announced they will close 40 of its 147 store locations in Canada; part of CCAA restructuring

+ Triple 5 Corp.’s Mall Of America slow to re-open June 1^st; they’ve missed April and May payments on its US$1.4 billion mortgage … tic toc

+ Victoria Secret will close 250 stores this year

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HEADLINES: Alberta-re-opening continues | Alberta Tourism re-start | Calgary Phased Opening | Canada Emergency Commercial Rent Assistance (CECRA) | Sturgeon Refinery operational | TC Energy sells 5% of Coastal GasLink + deals + rig counts + upcoming events, appointments + REIT NEWS + ESG reports + COVID-19 updates + financings + quotes + kudos

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+ Devimco Immobeilier is planning a $500.0 million TOD re-do of 1,200 rental and condo project at University of Sherbooke transit station in Longueuil – 1.2 million sq. ft. development

+ PC Urban Properties and KingSett Capital have partnered to acquire Viking Way Business Centre in Richmond, BC; 160,000 sq. ft. fully leased, on 9.7-acre property

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 weekly newsletter

Est. July, 1999

+ Alberta COVID-19 stats: 138 deaths, 6,879 cases so far: aggregate Alberta data

+ Alberta Innovates has provided $57.0 million to Alberta researchers and innovators

+ Alberta Tourism is rolling out: The Alberta (re)Bound Strategy this morning

+ 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 -

+ Biden boasts bunk – because: in the United States, oil pipelines are regulated by the states, not the federal government; the KeystoneXL Expansion border crossing required a Presidential Permit, which Trump granted … so, in this writer’s view, Biden’s boast he would tear up the permit is political smoke-blowing …

+ Calgary opening – Premier Kenny announced the Calgary and Brooks shutdown is lifted; subject to safety and distancing guidelines all retail, restaurants, and hair-benders in Alberta are allowed to re-open – many are open, some are taking it slow, and everyone is wondering how quickly the customers will come back

+ Canada and the United States have mutually agreed to extend the border closing for non-essential traffic for another month – now set to expire June 21, 2020

+ Canada Emergency Commercial Rent Assistance (CECRA) program for small business is now open for applications via CMHC who are administering the $40.0 billion program for Canada - for relief for April, May, and June rent; three key elements: tenants must be down 70% or more in revenue, landlords must be willing to forego 25%, government covers 50% of gross rent – application process and details/nuances as you might expect from any government program; BLG put together a great summary of the program – check it out …

+ current energy prices; live link to current Bloomberg energy prices / OilPrice.com; crude prices percolating upward over the last week – Saudis and OPEC+group seem to be holding to their promises on production cuts as inventories, demand, and prices recover …tic toc

+ Entrec obtained court ordered CCAA creditor protection;

+ MNP LLP acquired T4G

+ Point Loma Resources Ltd. ceased operations, directors and officers terminated; secured creditors consenting to receivership

+ rig activity in Canada

+ rig counts (active/working) – U.S.: down 21 to 318 this week; Canada: down 2 to 21 this week; full breakdown

+ Sturgeon Refinery is on-stream/fully operational, now producing oilsands bitumen; $9.7 billion refinery is JV of Northwest Upgrading and CNRL

+ TC Energy Corporation closed the sale of a 65% interest in the Coastal GasLink Pipeline Project

+ Canadian Wind Energy Association and Canadian Solar Industries Association, agreed to unite as Canadian Renewable Energy Association

+ 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; Fiera Capital Corporation, Annual General and Special Meeting, (virtual only)

+ 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 10; Dollarama Inc., Annual Meeting of Shareholders, (virtual only)

+ June 10; Restaurant Brands International Inc. Annual General Meeting of Shareholders, (virtual only)

+ June 11; Africa Energy Corp., Annual General and Special Meeting of Shareholders, Vancouver

+ 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 ]

+ Axis Auto Finance Inc. closed $6.25 million debt financing

+ Choice Properties REIT closed $500.0 million sr. unsecured debt financing

+ CI Financial Corp. is on the market to raise $450.0 million in debt financing

+ Colliers International Group Inc. closed US$230.0 million sr. sub. convertible debt financing

+ FirstService Corporation closed US$150.0 million in equity by private placement

+ Hexo Corp. closed $57.5 million equity financing

+ Manulife Financial Corporation closed US$500.0 million in debt financing

+ Manulife Financial Corporation closed US$200.0 million sr. debt financing by private placement

+ Mediagrif Interactive Technologies Inc. closed $16.0 million equity financing by private placement

+ Pulse Oil Corp. is on the market to raise $30.0 million in equity by private placement

+ Well Health Technologies Corp. closed $14.375 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 …

+ BOMA Canada – Pathway Back To Work Guide

+ from sea-can to COVID-19 isolations rooms; Quaran-Tin Pods developed – PCL Construction innovating – bravo!

+ BOMA Canada – Pathway Back To Work Guide

+ Skyline Commercial REIT acquired a 4-building, 1,177,202 sq. ft. portfolio of industrial properties NE in Calgary from IMCO for $132.0 million

+ Choice Properties REIT closed $500.0 million sr. unsecured debt financing

+ Dream Industrial REIT acquired 31-property/192,000 sq. m. industrial portfolio in the Netherlands from M7 European Real Estate Investment Partners IV fund for €140.0 million

+ Skyline Commercial REIT acquired a 4-building, 1,177,202 sq. ft. portfolio of industrial properties NE in Calgary from IMCO for  $132.0 million

+ to those who’ve donated to help front-line workers in the COVID-19 pandemic; here are this week’s heroes: Molson Coors donated 20,000 meals; Teatro served 50 at the YWCA; Freshslice Pizza, 10,000 meals; Parkland Corporation, $4.0 million to front-line health workers, truckers, and food banks

+ A single day is enough to make us a little larger or, another time, a little smaller. – Paul Klee

+ You were sick, but now you're well again, and there's work to do. – Kurt Vonnegut

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