+ Bruce Green; retired co-founder of Canadian Career Partners (now Cenera), 70
+ Greg Shave; friend, colleague/partner when I was at Colliers, once upon a time Saskatchewan Men’s Singles Tennis Champ, funniest man in the real estate business – sadly missed by everyone who ever worked with him; 78
+ wait and see seems to be the consensus for business/employers; only 7.0% of Alberta employers expect to add staff in the next three months – check out Canadian Survey of Business Conditions
+ It is the mark of an educated mind to be able to entertain a thought without accepting it. - Aristotle
+ When you’re a large company with significant market share, it’s tempting to view market disruptions as a threat, but we view them as an opportunity. – John T. Chambers
KUDOS
+ to Barney Bentall et al, Ron McLean and promoters Ross Roy (Stantec) and Craig & Cara Senyk (Mawer) for putting on a great virtual fundraising concert – another annual tribute to Peter Burgener – in support of Classroom Champions; $152,269 raised so far – click here to donate …
+ ALARM level concern in Calgary and Edmonton, across Canada and many other places – can our ICU capacity cope with the surge? ..officials and doctors are questioning whether politicians are adequately responding to the need for another lockdown … tic toc
+ Alberta COVID-19 stats: 427 deaths, 10,031 active cases of 40,189 cases to date: aggregate Alberta data – currently, 264 Albertans are in the hospital with COVID-19, and 57 of those are in intensive care units; Premier Kenny admonishes Albertans to ‘knock it off’ - potential for another lock-down and curtailment of surgeries to take pressure off hospitals …
+ Alberta did a Stage 2 relaunch, re-opening Stage 3 remains delayed because of case/infection levels; a 14-day restriction (Nov. 13-27) on numbers/hours/activities (restaurants, bars, gyms etc.) have been imposed due to a spike in cases
+ 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
+ ABT Capital Markets Inc. acquired 25% stake in ESG Data Services Inc.
+ current energy prices; live link to current Bloomberg energy prices / OilPrice.com; crude continue to rise above US$40/bbl as news of COVID-vaccine progress influenced trading sentiment and traders crossing their fingers OPEC+ group will maintain their supply cuts …
+ Enbridge Line 5 is safe according to the company; Michigan state officials have given notice of terminating a 1953 easement in the Straits of Makinac … tic toc
+ Highwood Oil Company Ltd. agreed to sell its Red Earth assets for $2.0 million
+ Horizon North Logistics Inc. changed its name to Dexterra Group Inc.
+ provincial sales tax, a long term kiss-of-death term for Alberta politicians to use crossed the lips of Alberta Finance Minister Travis Toews last week when speaking to the Edmonton Chamber of Commerce; a PST has never had traction in Alberta, but paying Alberta’s post-pandemic debt looms … tic toc
+ rig counts (active/working) – U.S.: up 12 to 312 this week; Canada: up 3 to 89 this week; full breakdown
+ Steel River Group forming JV with Yaq̓it ʔa·knuqⱡi'it (Tobacco Plains Indian Band) to pursue opportunities in SE British Columbia with Teck Coal and TransCanada mainline expansion
+ WELL Health Technologies Corp. completed its acquisition of Insig Corporation in an all-shares transaction
THIS WEEK IN FINANCINGS
- proposed & closed
+ ATW Tech Inc. closed $1.5 million equity financing by private placement
+ CAE Inc. is on the market to raise $300.0 million in equity
+ CAE Inc. is on the market to raise $150.0 million in equity by private placement
+ Canadian Natural Resources Limited is on the market to raise $800.0 million in debt
+ Douglas Jamieson, CFO @ CI Investments Inc., resigning
+ Firm Capital Mortgage Investment Corporation is on the market to raise $22.5 million in equity
+ Fronsac REIT is on the market to raise $15.0 million in equity
+ Fronsac REIT is on the market to raise $5.0 million in convertible debt by private placement
+ GFL Environmental Inc. is on the market to raise US$500.0 million in debt
+ InMed Pharmaceuticals Inc. closed US$8.0 million equity financing
+ Intermap Technologies Corporation closed $3.057 million 2nd tranche of its equity financing by private placement
+ LendCare Capital secured a new $85.0 million credit facility
+ MagicMed Industries Inc. is on the market to raise $2.5 million in equity
+ Mind Cure Health Inc. is on the market to raise $3.0 million in equity by private placement
+ Nova Royalty Corp. is on the market to raise $12.5 million in equity
+ R-Hauz Solutions Inc. secured $4.5 million in seed funding
+ ROK Resources Inc. closed $1.392 million equity financing
+ Tervita Corporation is on the market to raise US$500.0 million in sr. secured debt by private placement
+ The Very Good Food Company Inc. is on the market to raise $10.0 million in equity
+ Touchstone Exploration Inc. closed US$30.0 million equity raise by private placement
~
*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 or non-arm’s-length transactions …
SHAREHOLDER MEETINGS
+ Nov. 23.; Obsidian Energy Ltd., Special Meeting of Shareholders, Calgary
+ Nov. 25; Source Energy Services Ltd., Noteholder and Shareholders Meeting, virtual only
+ Dec. 11; Echelon Holdings Inc., Annual and Special Meeting of Shareholders, Toronto
+ Dec. 11; Rifco Inc., Annual General and Special Meeting of Shareholders, Edmonton
+ Dec. 15; Transat A.T. Inc., Special Meeting of Shareholders, Montreal
+ Dec. 15; Cenovus Energy Inc., Special Meeting of Shareholders, Calgary
+ Dec. 15; Husky Energy Inc., Special Meeting of Shareholders, Calgary
+ Dec. 15; Karnalyte Resources Inc., Special Meeting of Shareholders, Saskatoon
+ Feb. 23; Artis REIT, Special Meeting of Unitholders, Winnipeg
+ Great Canadian Gaming Corporation agreed to sell itself to Apollo Global Management Inc. for $3.3 billion
INTERESTING TRENDS IN RETAIL REAL ESTATE
+ Kingswood Capital Management LP closed its acquisition of MEC which had been under CCAA protection; HQ will remain in Vancouver, and 21 of 22 store locations are being retained
this week in REITs + TRUSTS
+ BSR REIT sold six apartment properties (1,483 doors) in Arkansas for $130.0 million
+ Fronsac REIT agreed to acquire a portfolio of five grocery story properties occupied by Loblaw branded retailers in Ontario, Quebec, and Nova Scotia for $43.4 million
+ be part of the transformation and join the Global Energy Show where technical experts from around the world present and discuss the latest technologies, processes and innovations leading the way toward zero emissions energy systems – CALL FOR ABSTRACTS
