+ 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
+ Alberta COVID-19 stats: 242 deaths, 1,433 active cases of 14,474 cases to date: aggregate Alberta data – currently, 47 Albertans are in the hospital with COVID-19, and 9 of those are in intensive care units
+ Alberta did a Stage 2 relaunch, allowing many more businesses to re-open and allowing a wider range of public gathering activities started June 12th; state of public health emergency status for Calgary, and for Alberta, now lifted. The maximum size of outdoor gatherings has been raised to 200; re-opening Stage 3 remains delayed because of case/infection levels – but likely to open if the school opening season goes well … tic toc
+ Altices USA Inc. made an offer to acquire Cogeco Inc. and Cogeco Communications Inc. for $10.3 billion; the proposed deal would see Rogers Communications Inc. acquire the Canadian assets of Cogeco for $4.9 billion; Cogeco rejected the unsolicited bid out of hand … 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
+ Calfrac Well Services Ltd. battle continues; Wilks Brothers LLC proposing an alternative to Calfrac’s recapitalization plan – making their own takeover bid … tic toc
+ Canada: Government of Canada via Western Economic Diversification announced $3.0 million in funding for innovative green technologies in construction …; AND, reported in several media outlets that the Canada Emergency Commercial Rent Assistance program will be extended, and modified – the program has been criticized widely for being too difficult to access for Tenants and too onerous for Landlords … tic toc
+ Enbridge Inc.’s pipelines in Gulf of Mexico back on stream after hurricane shutdown
+ Hub International Limited acquired Elevate Insurance Brokers; terms not disclosed
+ Imperial Oil Ltd. shut down it’s Kearl oil sands production (220,000/bpd) due to a Polaris diluent pipeline leak …
+ Just Energy Group Inc. got court approval to proceed with its recapitalization
+ Mullen Group Ltd. acquired 60% interest in Pacific Coast Express Limited to now own 100%
+ PetroChina Canada Ltd. closed its acquisition of a 50.1% interest in a portfolio of Duvernay shale gas properties from Ovintiv Canada ULC to now hold 100.0%
+ rig counts (active/working) – U.S.: up 2 to 256 this week; Canada: down 2 to 52 this week; full breakdown
+ Schlumberger agreed to transfer its North American pressure pumping business and hydraulic fracturing business to Liberty Oilfield Services Inc. in exchange for a 37% interest in Liberty Oilfield Services Inc.
+ Zargon OIl & Gas Ltd. filed Notice of Intention to make a proposal to creditors
THIS WEEK IN FINANCINGS
- proposed & closed
+ Allied Properties REIT closed $153.3 million equity financing by private placement
+ BSR REIT closed US$40.0 million equity financing
+ Chemtrade Logistics Income Fund closed $11.25 million overallotment of its recent convertible debt financing
+ CloudMD Software & Services Inc. is on the market to raise $18.0 million in equity
+ Good Natured Products Inc. closed $3.1 million first tranche of an equity financing by private placement
+ GreenPower Motor Company Inc. closed US$37.2 million equity financing by private placement
+ National Bank of Canada is on the market to raise $500.0 million in sub. 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
+ Sept. 9; HMH China Investments Limited, Annual General Meeting, Niagara Falls, NY
+ Sept. 10; Covington Venture Fund Inc., Special Meeting of Shareholders, Toronto
+ Sept. 14; Pipestone Energy Corp., Annual General and Special Meeting, Calgary
+ Sept. 15; Cequence Energy Ltd., Meeting of Secured and Unsecured Creditors, Calgary
+ Sept. 11; Alberta Treasury Management Charity Classic – in support of Big Brothers Big Sisters of Calgary and Area, Canmore Golf & Curling Club; info/registration
