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
+ 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
CLIMATE CHANGE + LEED + RENEWABLE ENERGY
+ U.S. Energy Information Administration (eia) published its International Energy Outlook 2020 – big focus on electricity/renewables
IN THIS ISSUE: Alberta COVID-stats | Alberta legislature back | BMO Ag unit | Calfrac fends off Wilks | Enbridge Line 3 replacement | EY brings Strategic assets to market | ConocoPhillips acquiring Concho + deals + rig counts + upcoming events, appointments + REIT NEWS + ESG reports + financings + quotes
+ Cubicle slavery is on its last legs. Commodity strategies are by and large bankrupt. Passion and commitment matter most. Creativity wins. – Tom Peters
+ I learned a long time ago that reality was much weirder than anyone’s imagination. – Hunter S. Thompson
+ a survey of private equity firms done by ERM(they do ESG reports) suggests that firms who do ESG reports to better – probably solid data, but it’s also a message of feeling good by hanging out with other people who feel good too; and yes, in the end, it’s about doing good …
+ Alberta COVID-19 stats: 292 deaths, 3,128 active cases of 22,673 cases to date: aggregate Alberta data – currently, 117 Albertans are in the hospital with COVID-19, and 18 of those are in intensive care units – the second-wave in Alberta seems to be unfolding as cases in Edmonton still spiking, Foothills Hospital in Calgary outbreaks continue to cause concern; more than 800 AHS staff are working on contact tracing
+ 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 intends to cut 11,000 Alberta Health Service jobs – outsourcing in a move to save $600.0 million/year; or is it union busting? …
+ Alberta Legislature – fall sitting starts today at 10AM; sitting calendar
+ Alberta tax relief/holiday for oil producers; the impending rift between industry and municipalities has been headed-off with a relief package estimated to cost $80.0 million, otherwise municipalities would generate as much as a $290.0 million shortfall this year – an imperfect compromise
+ AltaGas Ltd. agreed to pay $175.0 million to double its stake in Petrogas Energy Corp. to now hold 74%; Idemitsu Kosan Co. now holds 26%
+ Altice USA Inc. and Rogers Communications Inc. upped their bid for Cogeco Inc. et al to $11.0 billion, which was swiftly acknowledged, and then rejected – the Audet family say they aren’t selling, and Altice/Rogers are convinced it’s ‘just about money’, which makes me wonder if they’ve tried honey …
+ Annapolis Capital Limited merged Tyrannex Energy Ltd. and Tempus Energy Ltd. to create Amicus Petroleum Inc. (1,350 boe/d) operations
+ 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
+ Bird’s takeover of Stuart Olson is keeping them together-apart, not much operational change yet I’ve been told – but check out their new logos/colours: BIRD and STUART OLSON ~ it’s what you’d expect, signalling they’ll operate as stand-alone competitors with largely non-overlapping market presence … tic toc
+ Calfrac Well Services Ltd.’s shareholders and unsecured noteholders approved the company’s recapitalization transaction; proxy war by Wilks Brothers LLC garnered only 4% support; plan of arrangement next-step is court approval by Oct. 28, with implantation in early Novermber …
+ Canadian Spirit Resources Inc. engaged advisors to look at strategic alternatives …
+ ConocoPhillips agreed to acquire Concho Resources Inc. for US$9.7 billion in an all-shares transaction
+ current energy prices; live link to current Bloomberg energy prices / OilPrice.com; crude up, then slipped, hovering in the US$40-41/bbl range as GOM production resumes after Hurricane Delta passed; OPEC+ group say they will work to keep prices from falling but failed to decide on output cuts …
+ Delphi Energy Corp. completed its restructuring transaction
+ Enbridge Line 3 replacement project got some good news; a judge’s ruling set aside objections to the state agency permitting which should facilitate the balance of permitting and construction work before the end of 2020
+ Government of Canada: Canada Emergency Rent Subsidy (CERS) program extended, new complications, but little in the way of better clarity or substantive change in support for tenants and more paperwork for landlords … tic toc
+ Swimco, unable to restructure, is bankrupt; all stores closed
+ TAG Oil Ltd. agreed to sell its Australian assets and operations to Luco Energy Ptd. Ltd. for A$2.5 million, plus future considerations
+ WestJet Airlines is cutting back on flights and activity in the Maritimes due to COVID-decline in travel and revenue
THIS WEEK IN FINANCINGS
- proposed & closed
+ Argonaut Gold Inc. closed $11.5 million flow-through equity financing by private placement
+ Avricore Health Inc. is on the market to raise $.15 million in equity by private placement
+ Baselode Energy Corp. closed $3.0 million equity financing by private placement
+ CIBC is on the market to raise US$500.0 million in greed bond debt
+ CloudMD Software & Services Inc. is on the market to raise $25.0 million in equity
+ Desert Mountain Energy Corp. closed $4.0 million equity financing by private placement
+ E3 Metals Corp. closed $1.3347 million equity financing by private placement
+ Engine Media Holdings Inc. closed $2.05 million convertible debt financing
+ Fairstone Financial Inc. closed a $351.11 million asset-backed securities transaction
+ IntelGenx Corp. closed $1.2 million convertible debt financing by private placement
+ mdf commerce inc. secured $50.0 million sr. secured credit facility
+ mdf commerce inc. is on the market to raise $41.57 million in equity
+ Newtopia Inc. is on the market to raise $7.5 million in equity
+ Restaurant Brands International Inc. is on the market to raise $1.5 billion in senior secured debt
+ StageZero Life Sciences Ltd. are on the market to raise $5.0 million in equity
+ Starlight U.S. Multi-Family (No. 1) Core Plus Fund secured US$250.0 million credit facility
+ Topaz Energy Corp. is on the market to raise $217.5 million in equity by IPO
+ Wishpond Technologies Ltd. closed $4.6 million equity financing 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
+ Oct. 29; CF Energy Corp., Annual General Meeting of Shareholders, Toronto
+ 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
+ Airdrie exchange – 40th Avenue and the QEII; $83.0 million exchange and bridge to be started in early 2021; City of Airdrie putting up $62.0 million, GOA contributing $21.1 million
+ Canadian Pacific agreed to acquire 83.5% stake in the Detroit River Rail Tunnel from OMERS et al for US$312.0 million to now hold 100%
+ Q-Energy sold its Spanish solar assets (73 photovoltaic plants / 216MWh capacity) to Caisse de dépôt et placement du Québec; terms not disclosed
+ TransAlta Renewables Inc. commenced commercial operation of its 10 MW WindCharger battery storage project; WindCharger is Alberta's first utility-scale, lithium-ion energy storage project and utilizes Tesla Megapack technology. It has a nameplate capacity of 10MW and total storage capacity of 20MWh - acquired from TransAlta Corporation, the capital cost is approximately $14.5 million, 50% funded by Emissions
+ Dream Hard Asset Alternatives Trust is changing its name to Dream Impact Trust
INTERESTING REAL ESTATE NEWS FROM OTHER PLACES ...
+ Algonquin Power & Utilities Corp. closed its $92.3 million acquisition of Empresa de Servicios Sanitarios de Los Lagos S.A. , a water utility company in Chile
INTERESTING TRENDS IN INDUSTRIAL + LOGISTICS REAL ESTATE ...
+ U-Haul reported to have acquired 90,000 sq. ft. former Calgary Sun building at 2615 – 12 St. NE from Post Media; originally listed at $6.2 million two years ago – sales terms not disclosed
