JUST LISTED: extraordinary 2 bedroom condominium in Eau Claire Estates - $455,000; contact Mark Kolke or Jamie Giszas
FOR SALE - relax and enjoy beautiful Marina Bay at SYLVAN LAKE
FOR SALE - lakefront home Marina Bay - Sylvan Lake - CLICK PHOTO for VIRTUAL TOUR
+ year-round lakefront home (48 photo virtual tour) at Marina Bay, Sylvan Lake – 1,388 sq. ft., 2 bedroom, wood-burning fireplace, sauna, extraordinary – $649,900; in the owner’s words: There is something therapeutic about watching the seasons of life on a lake, the waterfowl and other birds flocking up in groups of thousands, as they are right now, and to hear their excited calls to each other as they contemplate their annual pilgrimage south. The Trumpeter swans, majestic in sound and sight in their perfect formations. The deer, who are not around the house all summer, seem to know that the neighborhood will now be quiet for months, are now in search of my crab apple tree and others, on which they will feast all winter. The variety of activity out on the lake in winter... and all viewed through that WINDOW, seated with a coffee next to a crackling fire. The morning walk along Lakeshore Drive or, to mix it up, through Norglenwold to the north, to see which old cabin is being torn down and rebuilt this time... - email me to arrange a showing: kolke@markkolke.com
+ Oct 21; Business Transitions Forum – Western Edition, Virtual Conference – info/register
+ Oct. 21; Alberta Real Estate Forum, Edmonton; info/register
+ Oct. 21; Calgary Prostate Cancer Centre – ‘virtual fundraiser’, Keep It In Calgary
+ Oct. 27-28; Supply Change EXPO, Stampede Park, Calgary; register
+ Oct. 28-29; BOMEX VIRTUAL 2020, 20th Annual Building Excellence Summit; Dr. Jane Goodall is keynoter; info/register
+ Oct. 29-30; Business Transitions Forum, Westin Calgary; info/registration
+ Nov. 6; 6th Annual Barney Bentall and Cariboo Express/Peter Burgener Memorial Charity Concert benefit for Classroom Champions; save the date/information
+ 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
+ Air Canada concluded its merger renegotiation for combination with Transat A.T. Inc.; Transat will operate as a stand-alone subsidiary; terms were amended from an original $720.0 million purchase to $188.7 million due to the business impact of COVID-19
+ Alberta COVID-19 stats: 282 deaths, 2,225 active cases of 19,995 cases to date: aggregate Alberta data – currently, 88 Albertans are in the hospital with COVID-19, and 11 of those are in intensive care units – the second-wave in Alberta is feared, cases in Edmonton still spiking, Foothills Hospital in Calgary
+ Alberta did a Stage 2 relaunch, re-opening Stage 3 remains delayed because of case/infection levels; school openings are causing concern as outbreaks at schools have left parents and neighbours jittery … tic toc
+ Alberta’s Real Estate Amendment Act 2020 was proclaimed Oct. 7th, comes into force December 1, 2020, will begin a shift of industry education away from RECA control, reconstituting the RECA governance board and structure, will bring Condominium Management under the regulatory umbrella and will no longer regulate real estate appraisers
+ 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
+ Bonterra Energy Corp’s board of directors rejected the takeover bid from Obsidian Energy Ltd.
+ Chestermere Golf Course to be redeveloped; Stokker Homes planning a JV residential development – subject to Chestermere council approval
+ current energy prices; live link to current Bloomberg energy prices / OilPrice.com; prices held steady last week as hurricane in GOM disrupting production (largest storm related outage in 15 yrs – most crude production and 2/3rds of natural gas output), and a crude inventory build; Norwegian North Sea strike avoided, and Libyan production disruptions abating, prices slumped yesterday. Meanwhile, OPEC is forecasting a demand-plateau in the late 2030s … tic toc
+ Government of Canada announced its intention to imposed binding plastic standards for products and packaging; the target is environmental concerns but it’s sounding like the arrows are aimed at Alberta’s heart …
+ Government of Canada talking about a 2nd carbon tax, harsher than its first, and nobody’s cheering; Jack Mintz points out its flaws
+ GMP Capital Inc. shareholders approved the RGMP Transaction; the result is that all Richardson GMP (being renamed as Richardson Wealth) under one corporate entity; current book under management is $29.0 billion
+ Onex. Corp acquired 83% of OneDigital for $960.0 million
+ Orpyx Medical Technologies Inc. of Calgary signed a $60.0 million supply agreement with Alberta Health Services to provide 40 million medical masks over the next two years
+ Pandell Technologies Corporation acquired PetroNet’s assets and took non its team and amalgamated with Pandell’s Canadian operations; terms not disclosed
+ Sagard Holdings acquired a majority interest in Grayhawk Investments ($800.0 million book); terms not disclosed
+ Schneider Electric entered into a partnership with REV Engineering
+ TD Bank Group closed its sale of TD Ameritrade Holding Corporation to The Charles Schwab Corporation; TC now holds 13.5% of Schwab; TD booking a $2.3 billion gain
+ rig counts (active/working) – U.S.: up 3 to 269 this week; Canada: up 5 to 80 this week; full breakdown
THIS WEEK IN FINANCINGS
- proposed & closed
+ Baselode Energy Corp. closed $2.5 million tranche of an equity financing by private placement
+ Binovi Technologies Corp. closed $1.7 million equity raise by private placement
+ Canadian Spirit Resources Inc. is on the market to raise $1.0 million in equity by private placement
+ EarthRenew Inc. secured $10.0 million equity financing by private placement
+ First Responder Technologies Inc. is on the market to raise $1.0 million in equity by private placement
+ Flagship Communities REIT closed US$93.75 million equity financing by IPO
+ Foresters Financial is on the market to raise $250.0 million in sub. debt financing
+ GWM Holdings Inc. closed US$55.0 million equity financing
+ MediaValet Inc. is on the market to raise $10.0 million in equity by private placement
+ NGX Energy International Corp. is on the market to raise US$10.0 million in debt by private placement
+ Predictiv AI Inc. closed $1.5 million equity financing by private placement
+ Radiant Technologies Inc. is on the market to raise $4.0 million in equity by private placement
+ Resverlogix Corp. is on the market to raise $13.2 million in equity by private placement
+ Terra Nova Resources Inc. is on the market to raise $9.0 million in equity by private placement
+ TransAlta Renewables Inc. secured AUD$800.0 million in secured debt financing
+ Transat A.T. Inc. is on the market to raise $250.0 million in debt
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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 or non-arm’s-length transactions …
SHAREHOLDER MEETINGS
+ Oct. 13; Cineplex Inc., Annual and Special Meeting of Shareholders, virtual only
+ Oct. 15; Africa Energy Corp., Special Meeting of Shareholders, Vancouver
+ Oct. 15; Clarke Inc., Special Meeting of Shareholders, Halifax
+ Oct. 16; Calfrac Well Services Ltd., Shareholders Meeting, Calgary
+ Oct. 16; Calfrac Well Services Ltd., Noteholders Meeting, Calgary
+ Nov. 13; Horizon North Logistics Inc., Special Meeting of Shareholders, Toronto
+ Dec. 11; Rifco Inc., Annual General and Special Meeting of Shareholders, Edmonton
+ Dec. 15; Karnalyte Resources Inc., Special Meeting of Shareholders, Saskatoon
+ Feb. 23; Artis REIT, Special Meeting of Unitholders, Winnipeg
+ Arts Commons $240.0 million expansion project moving along; the Calgary Municipal Land Corp. is staffing up for the project, design team expected to be on-board by early 2021; plans to be revealed in 2022, so don’t hold your breath …
+ construction of the Springbank dam is still going ahead, albeit slowing, according to Infrastructure Minister Ric McIver; 25% of the land involved has been acquired by the province … tic toc … hope we don’t have another big-flood year before this political football gets kicked through the goalposts; until then, it looks more like a can being kicked further and further down a NIMBY road
this week in REITs + TRUSTS
+ Boardwalk REIT acquired a 226 unit portfolio in Kitchener, Waterloo, and Cambridge, ON for $63.0 million
+ BTB REIT sold an office property in Montreal for $4.35 million
+ CAP REIT acquired a property/lease buyout of a mobile home community in midtown Toronto for $7.8 million
+ Flagship Communities REIT closed US$93.75 million equity financing by IPO
+ Subversive Real Estate Acquisition REIT LP closed US$182.8 million acquisition of industrial and retail properties in the United States
+ Summit Industrial Income REIT agreed to acquire the 50% interest it does not already hold in an 11-building portfolio of Montreal light industrial properties from its JV partner Group Montoni for $88.0 million
+ Summit Industrial Income REIT agreed to sell a 50% interest in a Montreal office building to Group Montoni for $5.8 million
