*- Surviving the Slump WEBINAR May 6, 2020 – 3PM

*- Polymer Flood Design in Heavy Oil Fields: Best Practices WEBINAR May 13 – 3PM

+ Anne-Marie Murphy to Client Marketing Mgr. @ Venture Communications

+ Baron Concors to Chief Information Officers @ Ritchie Bros. Auctioneers

+ Chris Scarff, Pres. & CEO @ Oak Trust Company, retired

+ Dan Glessing, Partner @ SMP Engineering, retired

+ David MacNaughton to Director @ TC Energy Corporation

+ Donald Sullivan to Mgr. & Associate General Counsel @ Pembina Pipeline Corporation

+ Frédéric Perron to Pres., Cogeco Connexion @ Cogeco Communications Inc.

+ Gary Moroso to National Sales Director, Canada @ Silver Hills

+ George Armoyan to Pres. & CEO @ Clarke Inc.

+ Jeff Henderson to Interim Controller @ Altex Energy Limited

+ Jim Duggan to Leader, Capital Programs @ City of Calgary

+ Jim Kessler to COO @ Ritchie Bros. Auctioneers

+ Kathy Cunningham to CFO @ The Globe and Mail

+ Keith Casey to Director @ Cenovus Energy Inc.

+ Keith MacPhail to Chairman @ Cenovus Energy Inc.

+ Martha Billes, Chancellor @ University of Guelph, resigned

+ Matt Harris, to Branch Mgr., Whitecourt @ Techmation Electric & Controls Ltd.

+ Matthew von Teichman to Pres. & CEO @ GreenSpace Brands Inc.

+ Michael Culbert to Director @ TC Energy Corporation

+ Michael Rapps, Pres. & CEO @ Clarke Inc., resigned

+ Nancy Lockhart to Trustee @ Alignvest Student Housing REIT

+ Natalie Meisner to Poet Laureate @ City of Calgary

+ Patrick Daniel, Chairman @ Cenovus Energy Inc., retired

+ Patrick O’Driscoll to Pres. & CEO @ Corby Spirit and Wine Limited

+ Philip Mittleman to CEO @ Aimia

+ Rani Hublou to Director @ Tecsys Inc.

+ Sarah Geddes to People Partner @ Avenue Living

+ Scot Evans to COO @ Reconnaissance Energy Africa Ltd.

+ Susan Jones to Director @ TC Energy Corporation

+ Tiff Macklem to Governor @ Bank of Canada

+ Wayne Berger to CEO, North America and Latin America @ IWG plc

+ Wayne Thomson, Director @ Cenovus Energy Inc., retired

~

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

+ Peter Krueger; founding Head of Chemistry Department, University of Calgary, 85

+ Building a virtual workforce: watch the KPMG Webinar

+ levels of depression rising during a pandemic: survey results

+ Robert Half Canada has been surveying workplace views on COVID-19 era workplace

+ Gibson Energy Inc. published its inaugural Sustainability Report

+ construction commenced on Mathison Hall Building and renovations to Scurfield Hall at the Haskayne School of Business; $90.0 million project is LEED Platinum project – completion expected by Sept., 2022

+ Eric Hamber Secondary School Replacement Project, Vancouver; $92.0 million awarded to Bird Construction Inc., using a design-build model

+ Ontario Power Generation Inc.’s Atura Power acquired natural gas-fired plant interests for $2.8 billion

+ Port of Vancouver asking Ottawa for approval for a $3.5 billion container terminal (Roberts Bank Terminal 2)

+ construction commenced on Mathison Hall Building and renovations to Scurfield Hall at the Haskayne School of Business; $90.0 million project is LEED Platinum project – completion expected by Sept., 2022

+ Eric Hamber Secondary School Replacement Project, Vancouver; $92.0 million awarded to Bird Construction Inc., design-build model

+ IREM published its Pandemic Guide for Real Estate Managers

+ PCL tops off Calgary Cancer Centre

+ signage for COVID-19 related issues is a challenge for everyone; here’s are some examples from IDENT

+ Crown Realty Partners acquired seven properties (23 buildings) in Ottawa from CanFirst Capital Management for $56.35 million; 415,000 sq. ft. portfolio of flex offices/90% occupancy

+ Lachance Immobilier and Fonds immobilier de solidarité acquired a 164,774 sq. ft./100% vacant Class-A office building on Nun’s Island, Montreal; terms not disclosed

+ Menkes Developments Ltd. will partner with BentallGreenOak on behalf of Sun Life Assurance Company of Canada (50% interest) for the development of 475,000 sq. ft. office/retail at the Waterfront Innovation Centre in Toronto

+ Nygard properties are up for sale; Manitoba court ruling approves liquidation of the company’s retail assets; nine companies involved; 169 retail stores

+ Starlight U.S. Multi-Family (No. 1) Core Plus Fund acquired 288-unit Southpoint Crossing Apartments in Raleigh, North Carolina for US$51.5 million

+ Storagevault Canada Inc. closed its $7.845 million acquisition of two Winnipeg store

+ ViveRE Communities Inc. closed its acquisition of 75 Emma St. in Oshawa for $7.3 million

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HEADLINES: Alberta tip-toe reopening | Cargill plant news | crude prices improving | Enbridge deal to store oil in Mainline | TC Energy power plant sales + deals + rig counts + upcoming events, appointments + REIT NEWS + ESG reports + financings + quotes + kudos

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+ EarthRene Inc. entered a partnership with Olds College to conduct field trials

+ Chorus Aviation Inc. executed US$100.0 million revolving credit facility

+ Cominar REIT closed $150.0 million in sr. unsecured debt financing

+ HealthSpace Data Systems Ltd. closed $2.86 million equity financing by private placement

+ Loblaw Companies Limited is on the market to raise $350.0 million in sr. unsecured debt

+ Martello Technologies Group Inc. closed $5.0 million unsecured sub. debt financing

+ Mediagrif Interactive Technologies Inc. are on the market to raise $10.0 million in equity

+ NFI Group Inc. secured a new £50.0 million unsecured, revolving credit facility 

+ Northview Canadian High Yield Residential Fund is on the market to raise $430.0 million in equity by IPO

+ Tecsys Inc. closed $23.0 million equity financing

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*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 …

+ Boston Market (300 stores) sold; Sun Capital Partners completed the sale to Engage Brands LLC – terms not disclosed

+ GAP brands (Gap, Banana Republic, Janie and Jack) are working with licensing firm IMG to expand into new categories for online and bricks & mortar retailing: baby equipment, baby care, home décor, textiles and furniture – and wholesaling, in their post-COVID-19 strategy

+ Henry’s, one of Canada’s oldest camera retailers seeking CCAA creditor protection; will close 7 stores, keep 22 in operation – they’ve filed a Notice of Intention to Make a Proposal

+ N.O.I.’s filed by Foodora (Delivery Hero subsidiary), and Marche Restaurants

+ J. Crew Group Inc. filed for bankruptcy; they plan to exchange US$2.0 billion in debt for cancellation by lenders in exchange for an 82% stake in the company

+ Macy’s Inc. reopened 69 of its stores yesterday

+ Nygard properties are up for sale; Manitoba court ruling approves liquidation of the company’s retail assets; nine companies involved; 169 retail stores

+ Roots Corp. is scaling back its U.S. presence; shuttering 7 stores and filing bankruptcy in the U.S. for the U.S. subsidiary

+ Simon Property Group is opening 49 malls in 10 U.S. states between May 1-4

+ The human capacity for burden is like bamboo – far more flexible than you’d ever believe at first glance. – Jodi Picoult

+ If your heart is broken, make art with the pieces. – Shane Koyczan

+ in Turkey the lockdown left the streets of Samun empty – so some sheep came to town

+ to companies supporting Canadians through COVID-19 issue: The Sprott Foundation, $20.0 million; Kellogg Company, $800,000.0 in food and funds; Roots Corporation, $500,000.0 in masks; Canadian Pacific, $1.0 million in supplies and relief

+ OpenText has 95% of its staff working from home; reported they have plans to ‘not reopen’ half of its offices post-pandemic and restructuring

+ SoftBank Group Corp. taking a US$6.6 billion write-down of its WeWork investment; meanwhile, WeWork co-founder Neuman filed a lawsuit against SoftBank for failing to provide a US$3.0 billion financing … tic toc

+ Cominar REIT closed $150.0 million in sr. unsecured debt financing

+ Northview Apartment REIT received Interim Court Order for its Plan of Arrangement

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 weekly newsletter

Est. July, 1999

+ Aimia Inc. completed its merger with Kognitiv Corporation

+ Aimia Inc. agreed to acquire 100% of Mittleman Brothers LLC,

+ Alberta COVID-19 stats: 104 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

+ Alberta Premier Kenny announced the Alberta re-open plan; golf and parks first, medical services, non-urgent surgeries; some retail and restaurant openings will be allowed based on reduced capacity – further services will be re-opened as statistical results permit …

+ Alberta-wide; group gatherings limited to fifteen (15); public health orders. All Albertans with symptoms of COVID-19 are eligible to be tested.

+ Bank of Canada published: COVID-19 and Beyond

+ Calfrac Well Services laid off 70% of its staff in Canada and U.S.

+ 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: Quebec re-opening (but Montreal still shut)

+ Cargill meat plant at High River linked to over 1,200 COVID-19 cases, 821 of whom are workers at the plant; as the plant re-opens, staff reluctance to return coupled with feed-lot operators being squeezed by temporary plant shutdowns are creating a fracture in the supply chain; Cargill is reported to supply 35% of Canada’s beef

+ CDC guidance; prevent the spread

+ COVID-19 virus watch: case growth graphic from December till now – updated daily; worldwide death total is over  250,000 deaths, 3.6 million identified cases

+ current energy prices; live link to current Bloomberg energy prices / OilPrice.com; crude prices appear to be rebounding – but not in any calm or sustainable fashion; the return of price is the product of shutting-in production to balance demand drop, trade tensions again between U.S. and China, and the May 1 kick-in of production cuts by Saudi/Russia/OPEC players … so, nothing to count on yet; heavy-crude (Western Canada Select) discount narrowing

+ Enbridge Inc. made a deal with shippers to temporarily store crude in its Mainline from June 1 and are negotiating for additional storage capacity

+ first-quarter earnings reports by public companies are rolling out; large losses, asset write-downs - no good news …

+ Fort McMurray experiencing river-ice related flooding; downtown evacuated, flood waters receding …

+ Irving Oil is exploring shipping western Canadian oil from west coast to east coast via the Panama Canal

+ KPS Capital Partners LP agreed to acquire Lufkin Rod Lift Solutions from Banker Hughes; terms not disclosed

+ Martello Technologies Group Inc. acquired GSX Participations SA for $18.7 million

+ MEG Energy Corp. announced a further 25% reduction of its 2020CapEx Budget to $150.0 million

+ Northview Apartment REIT received Interim Court Order for its Plan of Arrangement

+ Raymond James Ltd. agreed to acquire Oak Trust Company; combined services to be renamed/rebranded as Raymond James Trust (Canada) – their combined book is $52.0 billion

+ rig activity in Canada

+ rig counts (active/working) – U.S.: down 57 to 408 this week; Canada: up 1 to 27 this week; full breakdown

+ Royal Dutch Shell plc agreed to sell its Appalachia shale gas position for US$541.0 million to National Fuels Gas Company consortium

+ TC Energy Corporation closed its $2.8 billion sales of a portfolio of natural gas-fired power plants in Ontario

+ TC Energy Corporation’s KeystoneXL Pipeline expansion project construction continues, but a Montana court ruling’s impact is causing new delays to the ‘water crossings’ portions of the project; when completed the project will deliver 830,000 bbl/d for a 1,900km route to Gulf Coast refineries – expected completion in 2023

+ U.S. federal government recommendations notwithstanding, many states are re-opening from their shutdown measures amid conflicting reporting on what ‘new modelling’ indicates is wise, or not; testing continues in chaotic fashion as reliance on Trump White House politically driven propaganda vs. scientific information … as cases reach 1.2 million, deaths over 69,000

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

+ May 5; Calfrac Well Services Ltd., Annual and Special Meeting of Shareholders, Calgary, (and virtual)

+ May 5; Crown Capital Partners Inc., Annual and Special Meeting of Shareholders, (virtual only)

+ May 5; CT REIT, Annual Meeting, (virtual only)

+ May 5; The Equitable Life Insurance Company of Canada, Annual Meeting of Policyholders, Waterloo, ON

+ May 5; Freehold Royalties Ltd., Annual and Special Meeting of Shareholders, (virtual only)

+ May 5; Great Canadian Gaming, Annual General Meeting, Toronto, (and virtual)

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

+ May 5; Ritchie Bros. Auctioneers Incorporated, Annual Meeting of Shareholders, (virtual only)

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

+ May 6; Alaris Royalty Corp., Annual General and Special Meeting, (virtual only)

+ May 6; Boralex Inc., annual Meeting of Shareholders, (virtual only)

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

+ May 6; Gear Energy Ltd., Annual Meeting of Shareholders, Calgary

+ May 6; Gibson Energy UULD, Annual General Meeting, (virtual only)

+ May 6; Gran Tierra Energy Inc., Annual General Meeting, (virtual only)

+ May 6; Intact Financial Corporation, Annual and Special Meeting of Shareholders, (virtual only)

+ May 6; Morguard REIT, Annual Meeting of Unitholders, (virtual only)

+ May 6; Morguard North American Residential REIT, Annual Meeting of Unitholders, (virtual only)

+ May 6; Norbord Inc., Annual General Meeting, (virtual only)

+ May 6; Parkland Fuel Corporation, Annual General Meeting, (virtual only)

+ May 6; Suncor Energy Inc., Annual General Meeting of Shareholders, (virtual only)

+ May 6; Taiga Building Products, Annual General Meeting of Shareholders, Burnaby, BC (and virtual)

+ May 6; Torstar Corporation, Annual General Meeting, Toronto (and virtual)

+ May 7; ARC Resources Ltd., Annual Meeting of Shareholders, (virtual only)

+ May 7; Baytex Energy Corp., Annual General Meeting, Calgary, (and virtual)

+ May 7; Canadian Tire Corporation Limited, Annual Meeting of Shareholders, (virtual only)

+ May 7; Crombie REIT, Annual General Meeting of Unitholders, (virtual only)

+ May 7; iA Financial Group, (virtual only)

+ May 7; Killam Apartment REIT, Annual Meeting of Unitholders, (virtual only)

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

+ May 7; Oncolytics Biotech Inc., Annual General Meeting, (virtual only)

+ May 7; SNC-Lavalin, Annual General Meeting, (virtual only)

+ May 7; STEP Energy Services Ltd., Annual General and Special Meeting of Shareholders, (virtual only)

+ May 8; Ensign Energy, Annual Meeting of Shareholders, Calgary

+ May 8; IGM Financial Inc., Annual Meeting of Shareholders, (virtual only)

+ May 8; Morneau Shepell Inc., Annual General Meeting of Shareholders, (virtual only)

+ May 11; Tervita Corporation, Annual General 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; 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; Precision Drilling Corporation, Annual and Special 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 26; Horizon North Logistics Inc., Special Meeting of Shareholders, Calgary

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

+ 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

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