this site is refreshed with a new issue every Tuesday morning
updated ... October 27, 2015
TODAY'S HEADLINES
Alberta Budget Day | Calgary Real Estate Forum today | $297 million in flood mitigation | Economic Development and Trade ministry created + Lloyd Suchet interview | upcoming events & corp. meetings + climate change & infrastructure news + REIT news + this week’s financings + executive and board appointments >>>>
+ Alberta Budget Day today; Finance Minister Joe Ceci says he won’t be wearing new shoes, a tradition with budgets, but will be wearing old work boots (his late father’s), symbolic of hard work ahead. The budget is expected to call for $6.5 billion deficit based largely on a huge decline in non-renewable resource revenue, maintenance of essential services (hospitals, schools, roads) at levels Albertans need/demand. Premier Notley has hinted at substantial infrastructure support in the budget (jobs, jobs jobs, low prices, low interest rates = justification for taking on debt) … tic toc …
+ Bank of Canada maintained its overnight rate at ½ of 1%
+ Calgary Real Estate Forum at TELUS Convention Centre today; great networking event and not much good news to share
+ Canamax Energy Ltd. increased its 2015 CapEx Budget to $10.1 million
+ CI Financial Corp. agreed to acquire 100% of First Asset Capital Corp.
+ current energy prices – live link to Bloomberg energy prices ; WTI flirted with US$44/bbl yesterday, Brent under US$48/bbl as U.S. stockpiles reached an 85 yr. high October …
+ Enerplus Corp. laying off 10% of its 700-strong workforce
+ feature interview this week is: Lloyd Suchet, CEO @ BOMA Calgary
+ Duke Energy agreed to acquired Piedmont Natural Gas for US$4.9 billion
+ Montana Exploration Corp. closed its US$700,000 acquisition of 46,000 acres of Shaunavon land in Montana
+ Offsetters Climate Solutions Inc. changed they’re name to NatureBank Asset Management Inc.
+ Pengrowth Energy Corporation agreed to sell its non-core Jenner assets for $80 million
+ Roots Canada (245 stores, 115 in Canada) co-founders selling majority state to private equity firm Searchlight Capital Partners LP; terms not disclosed
+ Touchstone Exploration Inc. agreed to acquired Trinity Exploration and Production Plc for US$20.8 million
+ TransAlta Corp. in talks with potential buyers … tic toc …
+ Yantai Xinchao Industry agreed to acquire a portfolio of West Texas oil properties for US$1.3 billion
BOARDROOM changes, purges, appointments etc.
+ Andrew Imanse to Director @ Grande West Transportation Group Inc.
+ Blake Tennant to Managing Dir. Industrials and Infrastructure Services, New York @ Cannacord Genuity Group Inc.
+ Bob Armstrong to Director @ Rock Mountaineer
+ Dan Zivkusic to Corporate Secretary @ Questor Technology Inc.
+ David Gregory, Director @ Zaio Corporation, resigned
+ Don Fairgrieve-Park to Chair @ BOMA Canada (hooray for Estevan born good guy!)
+ Edna Stack to Chair @ The Canadian Payroll Association
+ Haotian Li, Director @ Sunshine Oilsands Ltd., resigned
+ Max Van Wielingen to Chair @ Alberta Investment Management Corporation (AIMCO)
+ Steven Glover to Lead Director @ Genesis Land Development Corp.
THIS WEEK IN FINANCINGS
- proposed & closed
+ Global Dividend Growers Corp. closed $60 million IPO
+ Ithaca Energy Inc. closed $66 million equity financing
+ Robix Alternative Fuels Inc. closed $562,000 equity financing
CLIMATE CHANGE / LEED / RENEWABLE ENERGY
+ Offsetters Climate Solutions Inc. changed they’re name to NatureBank Asset Management Inc.
INTERESTING REAL ESTATE NEWS, other places
+ Starwood Capital Group LLC is buying apartments (23,262 unit in 72 communities) from Equity Residential for US$5.4 billion
this week in REITS
+ Darden Restaurants (Olive Garden, Long Horn Steakhouse) are doing a 424 restaurant spinoff into a REIT, Four Corners Property Trust Inc. to raise US$1 billion
+ Milestone Apartments REIT agreed to acquire 15 properties from Landmark Apartment Trust for US$502. million
OIL SANDS NEWS
+ Fort McMurray Chamber of Commerce, UDI-Wood Buffalo released a report; Protecting the Investment in Our Future; 69 recommendations including a strong appeal to the Notley Government to re-establish the Oilsands Sustainable Development Secretariat
INFRASTRUCTURE / P3
+ Alterra Power Corp. acquired water rights for four hydro development projects near its Jimmy Creek and Toba Montrose projects in BC; each project is expected to produce 1-15MW of generation capacity
+ Prime-minister designate Justin Trudeau is moving his family into Rideau Cottage (on the grounds of Rideau Hall) while the National Capital Commission begins its process of renovating 24 Sussex Drive, the office Prime Minister’s residence, after the Harpers move out; long over due restoration of the mansion are expected to be in excess of $10 million as the project has been postponed by 4 successive prime ministers – meanwhile the place is crumbling, leaky and needs asbestos removal … tic toc …
