FACILITYCalgary

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FACILITYCalgary May 6/25

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SHAKERS AND MOVERS 
appointments and disappointments 

+ Alan MacDonald to Interim CFO and Corp. Secretary @ Pine Cliff Energy Ltd.

+ Andrew Kitchen to Pres. @ Russell Investments Canada Limited

+ Catherine Dyer to Chief Information Officer @ Air Canada

+ Cheryne Lowe, CFO and Corp. Secretary @ Pine Cliff Energy Ltd., on leave

+ Corey Hogan to Managing Dir., Communications and Public Engagement Office @ Government of Alberta

+ David Collyer to Board Chair @ Bow Valley College

+ David Eckert to Pres. & CEO @ Yellow Pages Limited

+ Dennis Cooley to Assoc. Deputy Minister, Solicitor General @ Government of Alberta

+ Eric Knutzen, CFO @ Solar Alliance Energy Inc., left the company

+ Geoffrey Cronin to National Advisory Services Leader @ Grant Thornton LLP

+ Harry Quarls, Director and Chairman @ US Oil Sands Inc., resigned

+ James Gray, Founder, Board Member and Chairman @ Calgary Academy, retired

+ Jeff Beeston to CFO @ Connacher Oil & Gas Limited

+ Jen Magnus to Member, Board of Governors @ Mount Royal University

+ Jodie Wallis to Managing Dir., Artificial Intelligence @ Accenture Canada

+ John Marshall to Partner, Western Canada @ The Bedford Consulting Group

+ Joseph Leonard, Director @ Air Canada, retired

+ Marianne Harrison to Pres. & CEO John Hancock Insurance @ Manulife Financial

+ Martin Jobke to Prse. @ Associated Engineering Group of Companies

+ Michael Doughty to Pres & CEO Manulife Canada @ Manulife Financial

+ Michèle Stanners to Member, Board of Governors @ Mount Royal University

+ Nigel Kirwood to COO @ Plenary Group

+ Philip Witherington to CFO @ Manulife Financial

+ Rob Fyfe to Director @ Air Canada

+ Sebastian Bellefleur, Director @ LGC Capital Ltd., resigned

+ Sheldon Levy to CEO @ NEXT Canada

+ Steve Roder, CFO @ Manulife Financial, retired

+ Susan Mallon to Chair, Board of Governors @ Mount Royal University

+ Susan Swan to Member, Board of Governors @ Mount Royal University


[please send us your appointment notices  kolke@facilitycalgary.com]




 MEMORIAM

+ Barry Korpatnisky, veteran Calgary residential realtor, died




 HUMAN RESOURCE + WORKPLACE TRENDS 

+ LUX Led Lighting launched a new product to emulate natural daylight

+ Women in Power – HR experts luncheon lecture series; info/tickets




 SHAREHOLDER MEETINGS

+ Sept. 19; Alimentation Couche-Tard Inc., Annual Shareholders Meeting, Laval, QC

+ Sept. 26; Calgary Philharmonic Society, Annual General Meeting, Calgary

+ Oct. 3; Petrolia Inc., Annual and Special Meeting, Quebec City, QC


[send your event notices to:  kolke@facilitycalgary.com ]



 QUOTES

+ The greatest good you can do for another is not just to share your riches but to reveal to him his own. – Benjamin Disraeli

+ Kindness can open doors where doors were thought not to exist. – Erica Wilson




  GLOSSARY + ABBREVIATIONS + ACRONYMS 

+ AEMERA – Alberta Environmental Monitoring Evaluation and Reporting Agency

+ AER - Alberta Energy Regulator

+ ASC – Alberta Securities Commission

+ AUC – Alberta Utilities Commission

+ BBL – barrel

+ BBLS/D – barrels per day

+ BOE – barrel of oil equivalent

+ Brent – North Sea crude benchmark price

+ CapEx – capital expenditures

+ CAPP - Canadian Association of Petroleum Producers

+ cap rate – capitalization rate

+ CBD – Central Business District

+ CCAA – Companies’ Creditors Arrangement Act

+ CCS – Carbon Capture and Storage

+ CEAA – Canadian Environmental Assessment Agency

+ Chapter 11 – court ordered creditor protection under U.S. bankruptcy law

+ COSIA - Canada's Oil Sands Innovation Alliance

+ CPPIB – Canada Pension Plan Investment Board

+ CREB - Calgary Real Estate Board

+ DIP – debtor in possession

+ EBITDA – earnings before interest, taxes, depreciation and amortization

+ EIA – U.S. Energy Information Administration

+ E & P – exploration and production

+ FERC – U.S. Federal Energy Regulation Commission

+ Forbearance Agreement – a short term formalized relief arrangement when loan terms are in default

+ FSR – floor space ratio

+ FTC – U.S. Federal Trade Commission

+ GJ – gigajoule

+ GLA – gross leasable area

+ GOA - Government of Alberta

+ GOM – Gulf of Mexico

+ GTA – greater Toronto area

+ GW - gigawatt

+ G&A – general and administrative

+ HOOP – Healthcare of Ontario Pension Plan

+ IEA – International Energy Agency

+ IFMA – International Facility Management Association

+ IPO – Initial Public Offering

+ JV – Joint Venture

+ KV – kilovolt (one thousand volts)

+ KW – kilowatt (one thousand watts)

+ LEED – Leadership in Energy and Environmental Design

+ LNG – Liquefied Natural Gas

+ LPG – Liquefied Propane Gas

+ MCF – thousand cubic feet

+ MCF/D – thousand cubic feet per day

+ mezz – mezzanine debt

+ MOU – Memorandum of Understanding

+ MT – metric ton

+ MW – megawatt (1 million watts)

+ NAFTA – North American Free Trade Agreement

+ NEB – National Energy Board

+ NGLs – natural gas liquids

+ OPEC – Organization of Petroleum Exporting Countries

+ P3 – Public Private Partnership

+ PADD – U.S. Petroleum Administration for Defense Districts

+ PPA – Power Purchase Agreement

+ PSAC – Petroleum Services Association of Canada

+ RECA – Real Estate Council of Alberta

+ REIT – Real Estate Investment Trust

+ RFI – request for information

+ RFP – request for proposals

+ RFQ – request for qualifications

+ RICS – Royal Institution of Chartered Surveyors

+ RNG – renewal natural gas

+ SAGD – steam assisted gravity drainage

+ SAIT – Southern Alberta Institute of Technology

+ S & P – Standard & Poors

+ sub – subsidiary

+ sub. – subordinated

+ tic toc – we’ll see …

+ TOD – transit oriented development

+ UDI – Urban Development Institute

+ WTI – West Texas Intermediate crude benchmark price

+ WTO – World Trade Organization

+ YYC – YYC Calgary International Airport


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updated September 19, 2017




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COMMERCIAL INTERIOR CONSTRUCTION



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 SAVE THE DATE / upcoming events

+ Sept. 17-20; 2018 Gastech Exhibition & Conference, Gran Via Venue, Barcelona, Spain; info/register

+ Sept. 20; School of Public Policy: NAFTA 2.0: Risks and Responsibilities for Canada’s Energy Sector Luncheon, Palliser Hotel, Calgary; register/tickets

+ Sept. 21; Lend An Ear Breakfast, Odd Fellows Club, Calgary; info/tickets

+ Sept. 22; Making Treat 7's 2nd Annual Fundraiser/Gala, Mount Royal University, Calgary; info/tickets/sponsors

+ Sept. 27; BOMEX 2017 - Canada's Building Excellence Summit, Conference, Trade Show and Awards Gala; Toronto; info/register

+ Oct. 16-24/2017; World Design Summit, ‘UNESCO City of Design’, Montreal

+ Oct. 19; Calgary Immigrant Women's Association, 35th Anniversary Gala, CIVIC on Third, info/tickets, sponsorships

+ Oct. 24; The Art Of Leadership For Women, TELUS Convention Centre, Calgary; info/tickets

+ Oct. 2; Calgary Real Estate Forum, TELUS Convention Centre, Calgary; info/register


[send your event notices to:  kolke@facilitycalgary.com ]



 CLIMATE CHANGE + LEED + RENEWABLE ENERGY 

+ Alterra Power Corp. closed its acquisition of Jawbone, Kern County, California; 40MW wind development project

+ Balancing Pool gave notice to TransAlta Corporation terminating Sundance Alberta Power Purchase Arrangements effective March 31, 2018; the parties are at odds of compensation; Balancing Pool is offering $171.0 million, TransAlta wants $231.0 million … tic toc

+ Washington, D.C. named first LEED for Cities Platinum city in the world by U.S. Green Building Council;  65% of D.C. neighborhoods are walkable, 58% of commuter trips are by bike, walking, or public transit, and the D.C. government is 100% powered by renewable energy. D.C. is on track to derive at least one-half its electricity from renewable resources by 2032




INTERESTING REAL ESTATE NEWS, other places


+ Cavendish Farms broke ground on a $360.0 million expansion of its Lethbridge frozen potato processing facilities; expected to produce 400 new jobs

 + Greystone Real Estate Strategy(1), Canderel and Canstone Realty Advisors acquired Constitution Square in Ottawa; LEED Platium, 1.06 million sq. ft. office and retail complex for $480.0 million

+ Sun Life Financial moved into new global headquarters at One York Street, Toronto; 35-storey, 800,000 sq. ft. tower is LEED Platinum

+ you have to agree, things must be great in Saskatchewan – the opening of a Maserati dealership (owned by the Wyant grou) in Saskatoon 




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NEWS SUMMARY 
 September 12 ~ 19 


+ Agellan Commercial REIT announced it will internalize management

+ Aurora LNG project appears dead; partners Nexen Energy and INPEX Gas British Columbia Ltd. have stopped work on their proposal to develop and LNG export terminal at Digby Island near Prince Rupert … tic toc

+ Balancing Pool gave notice to TransAlta Corporation terminating Sundance Alberta Power Purchase Arrangements effective March 31, 2018; the parties are at odds of compensation; Balancing Pool is offering $171.0 million, TransAlta wants $231.0 million … tic toc

+ Brookfield Asset Management Inc. sold all its oil & gas assets in Alberta, Insignia Energy Ltd., to SanLing Energy Ltd.; terms not disclosed

+ Cenovus Energy Inc. reported near a sale of its Suffield natural gas unit to Torxen Resources Ltd.

+ current energy prices – live link to current Bloomberg energy prices; crude prices steady at just under US$50/bbl for WTI, US$55/bbl for Brent – expected to hold steady as U.S. gulf coast refineries resume production post-hurricanes …

+ Dundee Energy Limited is soliciting buyers for its oil and gas assets in Ontario

+ Enerkem Inc. commenced operation of its cellulosic ethanol plant in Edmonton; first commercial scale plant in the world to produce cellulosic ethanol made from non-recyclable no compostable mixed municipal solid waste

+ Government of Alberta is establishing a Communication and Public Engagement Office

+ Japan Canada Oil Sands Ltd. cut the ribbon on its $2.0 billion Hangingstone project expansion; 1,000 bbl/day will ramp to 20,000 bbl/day by mid 2018

+ Kinepolis Group NV agreed to purchase Landmark Cinemas Canada LP (44 cinemas, 303 screens) for $123.0 million

+ Manitok Energy Inc. and Corinthian Oil Corp. agreed to amalgamation

+ Nisku Inn & Conference Centre is rebranding as Coast Nisku Inn & Conference Centre

+ nomination day Sept. 18th produced 131 candidates filing nomination papers for Calgary’s municipal and school board elections, and they are off and running

+ Northern Alberta Institute of Technology (NAIT) launched a two-year training program for foundation drill rig operators

+ oh my, that’s a big number; Deloitte Global announced its annual revenue hit US$38.8 billion; that’s a lot of money for counting money …

+ Paramount Resources Ltd. and Trilogy Energy Corp. completed their merger; Paramount acquired all of Trilogy

+ rig counts: Canadian count up 10 this week to 212; full breakdown

+ Superior Plus Corp. agreed to acquire R.W. Earhart Company (in Ohio) for US$38.0 million

+ TD Bank Group completed its $1.4 billion acquisition of Scottrade Bank

+ the gloves are off: not a hockey brawl yet, but Mayor Nenshi and Calgary Flames Pres. Ken King seem to be clearly at odds in a he-said v. he-said public debate; should make the election season exciting – at issue is who pays, who stays; this issue is being kicked down the road, like the Olympics bid, to a new council and don’t hold your breath, nothing is happening fast. At issue is ‘who pays what portion of a new arena’s cost’? Edmonton envy for hockey fans will not easily make for a deal, but with a new council in November, a new attitude may prevail …

+ Toys “R” Us Inc. entered Chapter 11 bankruptcy reorganization; 1,600 stores worldwide – operations will continue during ‘financial restructuring’ process in U.S. and Canada

+ US Oil Sands Inc. in in receivership; FTI Consulting Canada Inc. appointed receiver/manager

+ Wholesale Sports Canada Ltd. is shutting down its 12 stores; parent company United Farmers of Alberta Co-operative Ltd. hired Gordon Brothers to liquidate the operations – after 30 yrs., 545 jobs ending




THIS WEEK IN FINANCINGS 
- proposed & closed

+ Alterra Power Corp. secured $133.0 million debt financing

+ Brookfield Asset Management Inc. closed $300.0 million preferred share financing

+ Capital Power Corporation is on the market to raise $450.0 million in unsecured debt

+ Eclipse Residential Mortgage Investment Corporation closed $10.0 million equity financing

+ Harvest Operations Corp. is on the market to raise US$285.0 million in sr. debt

+ Hemisphere Energy Corporation secured US$35.0 million credit facility

+ Ikkuma Resources Corp. closed $2.12 million 3rd/final tranche of its equity financing by private placement

+ Kontrol Energy Corp. closed $600,000.0 tranche of an equity financing by private placement

+ LGC Capital Ltd. closed $3.0 million equity financing by private placement

+ Morguard Corporation closed $200.0 million sr. unsecured debt financing

+ SDX Energy Inc. closed US$10.0 million equity financing

+ TD Bank Group is on the market to raise US$1.0 billion in a green bond debt financing




 KUDOS 

+ Max Bell 1 arena renamed in honour of the late Ken Bracko 




 CORPORATE RESPONSIBILITY REPORTS 

+ TransCanada Corporation released its 2016 Corporate Social Responsibility Report; access 72 page pdf download




 CONSTRUCTION NEWS + INNOVATION 

+ Amazon, in its US$5.0 billion quest – to house 50,000 employees in a 2nd North America HQ facility toissued an RFO (request for options) for metro-areas of one million or more to submit; deadline is Oct. 19th; City of Calgary Economic Development are chasing a bid, calling for landowners with suitable land to submit their sites and/or buildings which might be suitable

+ Bird Construction Inc. acquired 50% of Stack Modular Group of Companies; terms not disclosed

+ Edmonton’s new Walterdale Bridge opened Sept. 18; 2 yrs. late of its scheduled opening; $155.0 million project replaces 1913 vintage bridge; the legendary tire-hum from the metal grates will not be heard from again …




 this week in REITS 


+ Agellan Commercial REIT announced it will internalize management

+ BTB REIT soled a property in Laval, Quebec for $2.625 million

+ Granite REIT agreed to acquire a portfolio (2.2 million sq. ft.) of three properties (Monroe, Ohio and Olive Branch, Mississippi) for US$122.8 million

+ Pure Multi-Family REIT LP agreed to acquire 340 unit project in Dallas, Texas for US$66.35 million




 INFRASTRUCTURE / P3  


+ GOA announced $176.0 million grant to City of Edmonton for construction of the southeast leg of the Valley Line LRT




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this site last updated May 6, 2025