+ 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
+ Oct 21; Business Transitions Forum – Western Edition, Virtual Conference – info/register
+ Oct. 21; Alberta Real Estate Forum, Edmonton; info/register
+ 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
+ to Gibson Energy Inc., for donating $1.0 million to Trellis to support youth mental health services
+ to Jayman Built – they made a $400,000.0 donation to celebrate 40 years in business; donations split between several charities – the MS Society, Hotchkiss Brain Institute, HomeSpace, and Homeward Trust
QUOTES
+ If opportunity doesn’t knock, build a door. – Milton Berle
+ The nice thing about being a celebrity is that, if you bore people, they think it’s their fault. – Henry Kissinger
+ Alberta COVID-19 stats: 280 deaths, 1,783 active cases of 18,935 cases to date: aggregate Alberta data – currently, 62 Albertans are in the hospital with COVID-19, and 14 of those are in intensive care units – it looks like the second-wave in Alberta is feared, cases in Edmonton spiking
+ 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
+ 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
+ Artis REIT facing a proxy fight; Sandpiper Group trying to oust most Artis board trustees … tic toc
+ ATCO Gas and Pipelines agreed to acquired the Pioneer Pipeline from TransAlta Corp. and Tidewater Midstream & Infrastructure Ltd. for $255.0 million
+ BURNCO Rock Products Ltd. sold its landscape centres unit BURNCO Landscape Centres Inc. to SiteOne Landscape Supply Inc.; 12 locations/200 employees – terms not disclosed
+ Calfrac Well Services Ltd. hissing-match continues; holders of $431.8 million in sr. unsecured debt and shareholders will meet October 16th; Wilks Brothers seem relentless, having made yet another other … tic toc
+ Chevron Corp. agreed to acquire Noble Energy for US$4.1 billion and assumption of US$8.0 billion in debt
+ CruzSur Energy Corp. changed its name to NGX Energy International Corp.
+ current energy prices; live link to current Bloomberg energy prices / OilPrice.com; crude prices softening over concern about depth/length of COVID-19 pandemic over the last week, but no up-ticking based on Gulf of Mexico storm concerns
+ Glenogle Energy Inc. and Glenogle Energy LP in CCAA creditor protection; EY was appointed monitor
+ rig counts (active/working) – U.S.: up 5 to 266 this week; Canada: up 4 to 75 this week; full breakdown
+ Royal Dutch Shell announced plans to reduce staff by 9,000 worldwide; 100s of fewer jobs expected in Canada
+ Suncor Energy Ltd. announced it will reduce staff 10-15% over the next 18 months (current staff is 12,889); contract workers are expected to be hit hardest/first
+ TC Energy Corp. entered into a deal for first nations communities to acquire an ownership interest in the Keystone XL pipeline project – the deal was signed with Natural Law Energy, a consortium of five first nations; the MOU has been signed, but is not definitive
+ TC Energy Corporation agreed to acquire all outstanding units of TC Pipelines LP it didn’t already control; transaction value US$1.48 billion
THIS WEEK IN FINANCINGS
- proposed & closed
+ Airbnb Inc. is on the market to raise US$3.0 billion in equity by IPO
+ ATW Tech Inc. is on the market to raise $1.5 million in equity by private placement
+ Ballard Power Systems raised US$250.0 million in equity
+ Bonterra Energy Corp. secured $104.0 million in new credit facilities
+ Brookfield Asset Management is on the market to raise $600.0 million for its Indian REIT by an U.S. IPO
+ Chesswood Group secured US$183.0 million revolving credit facility
+ Converge Technology Solutions Corp. closed $34.5 million equity financing
+ Crombie REIT is on the market to raise $300.0 million in unsecured debt
+ Dye & Durham Limited closed $50.0 million equity financing by private placement
+ Flagship Communities REIT files its IPO prospectus; on the market to raise US$93.75 million
+ GFL Environment Inc. closed US$600.0 million convertible preferred shares financing
+ Geyser Brands Inc. secured $1.0 million debt financing
+ Hydro One Limited is on the market $1.2 billion debt financing
+ Kainai Forage LP closed $15.0 credit facilities
+ Northview Canadian High Yield Residential Fund filed its prospectus; on the market to raise $430.0 million in equity by IPO
+ Nova Royalty Corp. secured $13.0 million debt financing
+ Otimi Health Corp. closed $4.5 million equity financing by private placement
+ Properly secured $100.0 million credit facility
+ Sienna Senior Living Inc. closed $175.0 million sr. unsecured debt financing
+ Sienna Senior Living Inc. secured $100.0 million secured credit facility
+ Siyata Mobile Inc. closed US$12.6 million equity financing by IPO
+ Sun Life Financial Inc. closed a $750.0 million in unsecured sub debt financing
+ WELL Health Technologies Corp. closed $23.0 million equity financing by private placement
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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. 6; GMP Capital Inc., Annual and Special Meeting, Toronto
+ 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
+ Dec. 15; Karnalyte Resources Inc., Special Meeting of Shareholders, Saskatoon
+ the Calgary Southwest leg of the ring-road won’t be completed until 2021, however the 12-km section across Tsuut’tina first nation lands is now opened; the transaction involved access and land swap transactions to enable the Government of Alberta to build that section – protracted negotiations over 70 years led, finally, to this historic event
+ the Trudeau government announced it will invest $10.0 billion in infrastructure initiatives; funding will be via Canada Infrastructure Bank … no promises on criteria or timing, just that will ‘fuel pandemic economy recovery’ …
this week in REITs + TRUSTS
+ Artis REIT facing a proxy fight; Sandpiper Group trying to oust most Artis board trustees … tic toc
+ Brookfield Asset Management is on the market to raise $600.0 million for its Indian REIT by a U.S. IPO
+ Crombie REIT is on the market to raise $300.0 million in unsecured debt
+ Flagship Communities REIT files its IPO prospectus; on the market to raise US$93.75 million
