+ Alan Torrie, Pres. & CEO @ Morneau Shepell Inc., retired

+ Alejandro Penafiel to Director @ Madalena Energy Inc.

+ Aleksandra James to COO, Valuation Div. @ Clarocity Corporation

+ Andrew Belt, Pres. Valued Veterans @ Clarocity Corporation, resigned

+ Anne Martin, Pres. @ United Van Lines (Canada) Ltd., retired

+ Brenda Eprile to Chair @ Home Capital Group Inc.

+ Brett Baker, to Sr. Director, Leasing @ Strategic Group

+ Bruce Rubin to Director @ Pembina Pipeline Corporation

+ Claude Lamoureux to Director @ Home Capital Group Inc.

+ Colin Milne to Gen. Mgr. Exterior Div. @ Alberta Fire & Flood Ltd.

+ Didier Drogba to Director @ Encanto Potash Corp.

+ Gordon Hicks to CEO @ Brookfield Global Integrated Solutions

+ Harry Sargeant IV to Director @ Pennine Petroleum Corporation

+ Janice Rennie to Director @ EPCOR Utilities Inc.

+ John Hinze to Director, Corporate Finance @ British Columbia Securities Commission

+ John Stephenson to Director @ Canada Jetlines Ltd.

+ Jose Penafiel to CEO @ Madalena Energy Inc.

+ Julia Hartz to Director @ Four Seasons Hotels and Resorts

+ Karl Bomhof to Pres. & CEO @ FortisAlberta Inc.

+ Michael Boychuk to Chair, Advisory Board @ Fengate Capital Management

+ Michael Culbert to Director @ Reserve Royalty Income Trust

+ Michael MacBean to Director @ TerraVest Capital Inc.

+ Pam Boskers to Facilities Coordinator @ Innovate Calgary

+ Paul Haggis to Director @ Home Capital Group Inc.

+ Paula Tonks to Admin. Coordinator @ Mosaicstone Law

+ Phonse Delaney to Exec. VP & Chief Information Officer @ Fortis Inc.

+ Quinten Griffiths to Pres. @ Accurate Assessment Group Ltd.

+ Richard Cruickshank to Director @ EPCOR Utilities Inc.

+ Sharon Sallows to Director @ Home Capital Group Inc.

+ Stephen Liptrap to Pres. & CEO @ Morneau Shepell Inc.

+ Stewart Hanlon, Pres. & CEO @ Gibson Energy Inc., retiring

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

+ NEB released a report on Canada’s Adoption of Renewable Power Sources

+ May 30; 15th Anual Double Your Impact Calgary Tournament/Opportunity International; Springbank Links Golf Club, Calgary; info/register

+ June 22; 56^th Annual, CSPG Golf Tournament, Elbow Springs Golf Club, Calgary; info/register

+ July 6; 15th Annual Coast Hotels Shuhachi Naito Golf Classic, Tsawwassen Springs Golf Club, Delta, BC; info/register

+ Sept. 7; Calgary Dream Centre 9th Annual Chairty Golf Classic, Heritage Pointe Golf Club, De Winton; info/register

+ AEMERA – Alberta Environmental Monitoring Evaluation and Reporting Agency

+ AER - Alberta Energy Regulator

+ ASC – Alberta Securities Commission

+ AUC – Alberta Utilities Commission

+ BBL – barrel

+ BBLS/D – barrels per day

+ 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

+ DIP – debtor in possession

+ EBITDA – earnings before interest, taxes, depreciation and amortization

+ EIA – U.S. Energy Information Administration

+ E & P – exploration and production

+ 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

+ IPO – Initial Public Offering

+ 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

+ 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

+ RECA – Real Estate Council of Alberta

+ REIT – Real Estate Investment Trust

+ RFI – request for information

+ RFP – request for proposals

+ RFQ – request for qualifications

+ 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

FACILITYCalgary
current week data

this  site is refreshed with a new issue every Tuesday morning

updated May 9, 2017

HEADLINES: AltaGas JV| Canada Infrastructure Bank | CWC exploring alternatives | Empire Co. re-org | Keyera selling assets | Suncor going ahead with Lewis project + Shawna Wagner interview | upcoming events, appointments, oil sands/heavy oil + climate change + infrastructure + REIT NEWS + financings 

+ May 9; Brookfield Real Estate Services Inc., Annual General Meeting, Toronto

+ May 9; George Weston Limited, Annual Meeting of Shareholders, Toronto

+ May 9; Gibson Energy Inc., Annual General Meeting, Calgary

+ May 9; Innergex Renewable Energy Inc., Annual and Special Meeting of Shareholders, Montreal

+ May 9; Inovalis REIT, Annual Meeting of Unitholders, Toronto

+ May 9; Keyera Corp., Annual Meeting of Shareholders, Calgary

+ May 9; Trilogy Energy Corp, Annual Meeting of Shareholders, Calgary

+ May 10; Black Diamond Group Limited, Annual General Meeting, Calgary

+ May 10; FLYHT Aerospace Solutions Ltd., Annual and Special Meeting, Calgary

+ May 10; Newalta Corporation, Annual General Meeting of Shareholders, Calgary

+ May 10; Paramount Resources Ltd., Annual General Meeting of Shareholders, Calgary

+ May 10; Pure Industrial REIT, Annual and Special Meeting of Unitholders, Vancouver

+ May 10; Summit Industrial Income REIT, Annual Meeting of Unitholders, Toronto

+ May 10; Sun Life Financial Inc., Annual Meeting, Toronto

+ May 11; Canadian Tire Corporation, Annual General Meeting of Shareholders, Toronto

+ May 11; PFB Corporation, Annual General Meeting, Calgary

+ May 11; Crombie REIT, Annual General and Special Meeting of Unitholders, New Glasgow, NS

+ May 11; Quebecor, Annual Meeting of Shareholders, Montreal

+ May 12; Crius Energy Trust, Annual Meeting of Unitholders, Toronto

+ May 12; Emera Inc., Annual Meeting of Shareholders, Halifax

+ May 12; PrivateBancorp Inc., Stockholder Meeting, Approve merger with CIBC, Toronto

+ May 12; Sleep Country Canada Holdings Inc., Annual General Meeting of Shareholders, Toronto

+ May 16; A&W Revenue Royalties Income Fund, Annual General Meeting, North Vancouver

+ May 16; Mosaic Capital Corporation, Annual General Meeting, Calgary

+ May 17; Bellatrix Exploration Ltd., Annual General Meeting, Calgary

+ May 18; Delphi Energy Corp., Annual General Meeting, Calgary

+ May 18; SDX Energy Inc., Annual and Special General Meeting, London UK

+ May 23; Sienna Senior Living Inc., Annual Meeting of Shareholders, Toronto

+ May 24; CAPREIT, Annual Meeting of Unitholders, Toronto

+ May 24; Pure Multi-Family REIT LP, Annual and Special Meeting of Unitholders, Vancouver

+ May 31; Canyon Services Group Inc., Shareholder Meeting – approve merger, Calgary

+ May 31; Trican Well Service Ltd., Shareholder Meeting – approve merger, Calgary

+ May 31; PRO REIT, Annual Meeting of Unitholders, Halifax

+ June 14; K-Bro Linen Inc., Annual General Meeting, Toronto

+ June 27; Eagle Energy Inc., Annual Meeting, Calgary

+ AltaGas Ltd. formed a JV with Royal Vopak to develop the Ridley Island Propane Export Terminal

+ Canada Infrastructure Bank will be located in Toronto; Trudeau government decision announced; plan is to provide $180.0 billion in infrastructure (public transit, green infrastructure, social infrastructure, transportation that supports trade and rural and northern communities) funding over next 12 years, of which $35.0 billion will be federal government money

+ CanaDream Corporation agreed to a ‘being taken private’ transaction with Apollo Tourism & Leisure Ltd.

+ current energy prices – live link to current Bloomberg energy prices; crude slump may reverse on decline in U.S. supply glut and anticipation of extension of OPEC-led production cuts … tic toc

+ CWC Energy Services Corp. initiated a strategic review process, advisors have been hired to examine and explore alternatives

+ Empire Company Limited (Sobeys, Safeway) announced a reorganization plan to simplify the company, plans to save $500.0 million annually … tic toc

+ Keyera Partnership is selling its interests in two crude oil pipelines: Wabasca River Pipeline System and North Senex Pipeline System

+ Minto Capital Management Inc. acquired Radisson Place in Calgary; terms not disclosed

+ Pulse Oil Corp. agreed to acquire two portfolios of Alberta oi & gas producing properties

+ rig counts: international count up to 956 in April vs. 943 in March, Western Canada count down 3 this week to 82; see the whole picture

+ Suncor Energy reported to be applying for regulatory approval for its Lewis project, 160,000/bbl/day oil sands project located 25 km. NE of Fort McMurray

+ Dollarama Inc. is on the market to raise $325.0 million in sr. unsecured debt by private placement

+ European Commercial Real Estate Limited completed $30.0 million equity financing

+ GFL Environmental Inc. is on the market to raise US$350.0 million in sr. unsecured debt

+ Madalena Energy Inc. secured $6.5 million credit facility

+ Pulse Oil Corp. is on the market to raise $8.0 million in equity

+ Starlight U.S. Multi-Family (No. 1) Value-Add Fund is on the market to raise US$112.0 million by an IPO

+ Don’t tell me the sky’s the limit when there are footsteps on the moon. – Paul Brandt

+ Boy, I got vision, and the rest of the world wears bifocals. – Butch Cassidy

+ European Commercial Real Estate Limited converted to a REIT; now known as European Commercial REIT

+ Melcor REIT sold a 67,610 sq. ft. warehouse property in Lethbridge, AB for $8.0 million

+ Pure Multi-Family REIT LP commenced its internalization of property management functions

+ R&R REIT agreed to acquire a nine-property (extended-stay hotels/1,020 rooms) portfolio for US$35.0 million

+ Calgary City Council approved $1.55 billion plan to fix Crowchild Trail congestion on the north side of the Bow River; multi-year plan involves a tunnel, bridge widening, more ramps and interchanges

+ Canada Infrastructure Bank will be located in Toronto; Trudeau government decision announced; plan is to provide $180.0 billion in infrastructure (public transit, green infrastructure, social infrastructure, transportation that supports trade and rural and northern communities) funding over next 12 years, of which $35.0 billion will be federal government money

+ Infrastructure Ontario and Groves Memorial Community Hospital have announced EllisDon Infrastructure Healthcare is the preferred proponent to design, build and finance the new hospital development project in Centre Wellington, Ont.

+ Innergex Renewable Energy Inc. agreed to acquire three wind farms (119.5 MW installed capacity) in France from Velocity Energy Developments (France) Limited for $76.2 million

+ Manitoba is studying a P3 option to develop $100.0 million in new schools; and RFP is being issued …

+ Plenary Group was awarded a fixed-price contract for the Centre for Addiction and Mental Health facility on Queen St. West in Toronto; $685.0 million project will involve 655,000 sq. ft. of new build space; completion in spring, 2020

+ Avigilon Corporation agreed to sell its Vancouver office tower for $107.5 million in a sale/leaseback transaction

+ Minto Capital sold a 50% interest in its Minto Place (three towers,/945,030 sq. ft/1,055 parking stalls) project in Ottawa to Investors Real Property Fund; terms not disclosed

+ MTY Food Group Inc. agreed to acquire The Works Gourmet Burger Bistro (27 locations, all in Ontario) for $8.0 million

+ QuadReal invested US$600.0 million in a JV with CA Student Living and GI Partners to acquire, develop and manage student housing on university campuses in the United States

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