Posts Tagged ‘#Businessnews’

Wazzcards Launches Free Financial Literacy Program Targeting Black, Indigenous And Low-Income Communities

The Virtual Classroom will be offered in the Caribbean and North America

For Immediate Release

CaribPR Wire, Toronto, ON, Mon. August 16, 2021: Wazzio Inc. launches its new Financial Literacy WazzCards pilot program on Monday August 16th, 2021, for students in grades 5 to 8 for a two-week period. WazzCards is a real-time virtual classroom tool with teacher certified curriculum that drives engagement, participation and learning in children while empowering parents and teachers to support students right when there is an issue.

“We want to ensure students – especially those identified as at-risk in Black, Indigenous and low-income families or situations – don’t fall further behind.  With the disruptions due to Covid-19 and now summer, it is even more critical to keep kids actively engaged in learning in a way that will bolster their education and spark their interest,” explains Wazzio CEO Cher Grant.

The Financial Literacy WazzCards classroom can be accessed via Zoom and there will be a total of 8 classes capped at 30 students each.

WazzCards is a multiple-choice deck content created by certified teachers that allows a real-time view of your virtual classroom and can also be used for in-class learning. Both ways offer a fun, engaging way for the teacher or parent to see how each child responds to and works with the selected deck’s questions without any lag time. WazzCards covers core curriculum subjects such as Math, Science, History and Language, however Cher’s push to have financial literacy at the forefront is a purposeful one.

“By including financial literacy in the WazzCard tool we have been able to provide a way for young learners to develop a foundational understanding of money and finance and for parents to practically prepare their children for a successful future by laying the groundwork for strong financial habits that will last them a lifetime,” Grant added.

Wazzio Inc. is also looking for volunteer Ontario Certified teachers to be a part of the pilot program. Click here for students or parents to book a financial literacy class.

For more info: wazzcards.com | Instagram | LinkedIn

Wazzio Inc was founded in 2013 with a commitment to facilitate ease of access to the information and services people need and use in every facet of life, from business, social and leisure to education. Focusing on mobile technology solutions, consumer solutions and EdTech, Wazzio simplifies the process of consuming, sharing and learning anytime, anywhere.  Wazzio Inc. is certified by Women Business Enterprises Canada (WBE Canada) and conducts business in Canada and the United States.

To Book Interviews with Wazzio CEO Cher Grant Contact:

Janice James-Brown |FKB Media Solutions | [email protected]


IMAGE HERE

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Parkland appoints Angela John and Richard Hookway to its Board of Directors

CaribPR Wire, CALGARY, Alberta, Aug. 05, 2021: Parkland Corporation (”Parkland”, “we”, the “Company”, or “our”) (TSX:PKI) today announced the appointment of Angela John and Richard Hookway to Parkland’s Board of Directors (the “Board”), effective today.

“We are delighted to welcome Angela and Richard to our Board of Directors,” said Jim Pantelidis, Chairman of the Board. “Collectively, they bring extensive global experience in supply, low carbon technologies and in creating value across the entire downstream value chain. We expect our Board and Parkland’s shareholders will benefit greatly from their contributions.”

Angela John currently serves as Director, New Energy Ventures with Williams where she develops and implements clean energy strategies for renewables, emerging technologies, and carbon markets. Previously, Angela spent 27 years with BP including 19 years in the global supply and trading organization focusing on renewable fuels and energy markets. She held a variety of leadership roles, including Senior Vice President Marketing and Origination and Vice President Marketing and Supply. Angela has a Master of Business Administration from Northwestern’s Kellogg School of Management and a Bachelor of Science in Chemical Engineering from the University of Houston.

Richard Hookway is a highly experienced executive and Board Director who is currently a non-executive member of the Supervisory Board at Royal Vopak N.V. Previously, Richard was Chief Executive Officer of the global business division of Centrica plc, and an executive member of the Centrica plc Board. In addition, Richard spent 35 years with BP in a variety of global leadership roles including Chief Executive Officer of their Natural Gas Liquids and Commercial and Industrial businesses, and Chief Financial Officer for their Downstream and Petrochemical businesses. Richard has a Master of Science in Management from Stanford University and a Bachelor of Science in Mathematics from the University of Manchester.

About Parkland Corporation
Parkland is an independent supplier and marketer of fuel and petroleum products and a leading convenience store operator. Parkland services customers across Canada, the United States, the Caribbean region and the Americas through three channels: Retail, Commercial and Wholesale. Parkland optimizes its fuel supply across these three channels by operating and leveraging a growing portfolio of supply relationships and storage infrastructure. Parkland provides trusted and locally relevant fuel brands and convenience store offerings in the communities it serves.

Parkland creates value for shareholders by focusing on its proven strategy of growing organically, realizing a supply advantage and acquiring prudently and integrating successfully. At the core of our strategy are our people, as well as our values of safety, integrity, community and respect, which are embraced across our organization.

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ibex Takes Firm Hold of BPO Industry Leadership in Jamaica – Opens its Fifth Site in Five Years

Company Leverages Jamaica to Accelerate Technology-Driven Job Growth and Strengthen its Base of Digitally-Enabled Blue Chip and New Economy Clients

New ibex Jamaica Customer Experience Delivery Center
ibex opens its Campus delivery center, its fifth location in Jamaica in five years.

CARIBPR WIRE, WASHINGTON, Aug. 02, 2021: ibex (NASDAQ: IBEX), a global leader in business process outsourcing (BPO) and end-to-end customer engagement technology solutions, today announced the opening of its new Campus location in the Sunshine City area of Portmore, Jamaica. The new facility will create 1,300 digitally-enabled jobs, bringing the company’s total employment on the island to more than 6,500 people.

“The tremendous growth being fueled by increased client demand, technology innovation and new wins with Blue Chip and New Economy customers has helped us create more than 1,500 jobs in Jamaica this year alone and placed the island at the center of the BPO 2.0 revolution,” said Jaime Vergara, senior vice president and Jamaica country manager, ibex.

“Not only has our growth accelerated economic development across Jamaica, but we are further positioning the country as a global shared services hub that is digitally transforming our clients’ customer experiences,” Vergara added.

Since opening its first site in 2016, ibex has invested more than $50M USD capital in Jamaica, increased employment from 200 jobs to more than 6,500, and enhanced the overall health and quality of life for its employees by investing more than $40M USD in annual salaries. With the opening of Campus, ibex now has a total of more than 5,000 seats in Jamaica across its five facilities in Ocho Rios, Portmore, and Kingston.   More than 500 of these positions will be utilized to support ibex’s rapid growth in the company’s insurance sector.

ibex is currently hiring both on-site and work-at-home positions with plans for additional growth by the end of 2021, this includes new job creation to address the company’s staff augmentation efforts for IT outsourcing (ITO) services.

The company will leverage its Wave X technology suite to quickly ramp agent proficiency and accelerate its speed-to-green delivery operations. This includes deploying ibex Training Simulator, a virtual solution designed to accelerate agent learning and enhance customer engagement across digital and traditional communication channels. The company will also leverage the ibex [email protected] technology suite to drive cost savings, accelerate productivity and enhance the customer experience (CX) for clients, while providing agents the ability to work at maximum efficiency regardless of location.

About ibex
ibex delivers innovative business process outsourcing (BPO), smart digital marketing, online acquisition technology, and end-to-end customer engagement solutions to help companies acquire, engage, and retain valuable customers. Today, ibex operates a global contact center of scale consisting of 31 operations facilities around the world, while deploying next-generation technology to drive superior customer experiences for many of the world’s leading companies across retail, e-commerce, healthcare, fintech, utilities and logistics.

ibex leverages its diverse global team of over 24,000 employees together with industry-leading technology, including its Wave X technology platform, to manage over 100 million critical customer interactions and driving a truly differentiated customer experience.  To learn more, visit our website at ibex.co and connect with us on LinkedInFacebook and Twitter.

A photo accompanying this announcement is available HERE


ibex toma control del liderazgo del sector de externalización de procesos de negocios (BPO) en Jamaica - Abre su quinto sitio en cinco años

La empresa aprovecha su presencia en Jamaica para acelerar el aumento de empleos orientados a la tecnología y fortalecer su base de clientes digitalmente habilitados de Blue Chip y New Economy

CARIBPR WIRE, WASHINGTON, Aug. 02, 2021: – IBEX (NASDAQ: IBEX), un líder mundial en externalización de procesos de negocios (BPO) y soluciones de tecnología de participación del cliente de punto a punto, anunció hoy la apertura de su nuevo campus localizado en el área de Sunshine City de Portmore, Jamaica. La nueva instalación creará 1.300 empleos habilitados digitalmente, sumando el total de empleos de la empresa en la isla a más de 6.500 personas.

“El enorme crecimiento impulsado por el aumento de la demanda de los clientes, innovación tecnológica y nuevos éxitos con los clientes de Blue Chip y New Economy nos ayuda a crear más de 1.500 empleos en Jamaica solo este año y posicionó a la ista en el centro de la revolución de BPO 2.0″, dijo Jaime Vergara, vicepresidente senior y gerente de país de Jamaica, IBEX.

“Nuestro crecimiento además de acelerar el desarrollo económico en toda Jamaica, también posiciona aún más al país como un centro global de servicios compartidos que transforma de forma digital las experiencias de consumo de nuestros clientes”, agregó Vergara.

Desde la apertura de su primer sitio en 2016, ibex invirtió más de $ 50 millones en capital en Jamaica, aumentó el empleo de 200 a más de 6.500 puestos, y mejoró la salud y calidad de vida en general de sus empleados con una inversión de más de $ 40 millones en salarios anuales. Con la apertura del Campus, el IBEX hoy cuenta con un total de más de 5,000 puestos en Jamaica en sus cinco instalaciones en Ocho Ríos, Portmore y Kingston.   Más de 500 de estas posiciones se utilizarán para apoyar el rápido crecimiento de IBEX en el sector de seguros de la empresa.

iBEX actualmente está contratando para posiciones tanto en las instalaciones como para trabajar en el hogar con planes de crecimiento adicional para finales de 2021, esto incluye la creación de nuevos empleos para abordar los esfuerzos de aumento de personal de la empresa para servicios de externalización de TI (ITO).

La empresa aprovechará su conjunto de tecnología Wave X para aumentar rápidamente la capacidad del agente y acelerar sus operaciones de entrega de velocidad verde. Esto incluye la implementación de ibex Training Simulator (simulador de capacitación), una solución virtual diseñada para acelerar el aprendizaje de los agentes y optimizar la participación del cliente a través de canales de comunicación digitales y tradicionales. La empresa además aprovechará el conjunto de tecnología ibex [email protected] para impulsar ahorro de costos, acelerar la productividad y optimizar la experiencia del consumidor (CX) para los clientes, mientras que ofrece a los agentes la capacidad de trabajar con máxima eficacia independientemente de la localización.

Acerca de Ibex
IBEX ofrece externalización de procesos de negocios (BPO) innovadores, marketing digital inteligente, tecnología de adquisición en línea y soluciones de participación del cliente de extremo a extremo para ayudar a las empresas en la adquisición, participación y retención de clientes valiosos. Hoy, ibex opera un centro de contacto global de escala que consiste de 31 instalaciones de operaciones en todo el mundo, al mismo tiempo que implementa tecnología de última generación para impulsar experiencias de clientes superiores para muchas de las empresas líderes mundiales en los sectores minorista, comercio electrónico, atención médica, tecnología financiera (fintech), servicios públicos y logística.

ibex aprovecha su diverso equipo global de más de 24.000 empleados junto con tecnología líder en el sector, incluida su plataforma tecnológica Wave X, para la gestión de más de 100 millones de interacciones decisivas con los clientes e impulsar una experiencia de cliente verdaderamente diferenciada.  Para más información, visite nuestro sitio web ibex.co y conéctese con nosotros en LinkedInFacebookTwitter.

Una foto asociada con este comunicado de prensa está disponible HERE

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Parkland Corporation Announces Date of 2021 Second Quarter Results

CaribPR Wire, CALGARY, Alberta, July 22, 2021: Parkland Corporation (“Parkland”) (TSX:PKI) expects to announce its 2021 second quarter results after markets close on Thursday, August 5, 2021. A conference call and webcast will then be held at 6:30 a.m. MDT (8:30 a.m. EDT) on Friday, August 6, 2021, to discuss the results.

To listen to the live webcast and watch the presentation, please use the following link:
https://produceredition.webcasts.com/starthere.jsp?ei=1481382&tp_key=85182819cb

Analysts and institutional investors interested in participating in the question and answer session of the conference call may do so by calling 1-888-390-0546 (toll-free) (Conference ID: 18980971). International participants can call 1-587-880-2171 (toll) (Conference ID: 18980971).

Please connect and log in approximately 10 minutes before the beginning of the call. The webcast will be available for replay two hours after the conference call ends at the link above. It will remain available for one year and will also be posted to www.parkland.ca.

Financial Statements and Management’s Discussion and Analysis will be posted to www.parkland.ca and SEDAR after the results are released.

About Parkland
Parkland is an independent supplier and marketer of fuel and petroleum products and a leading convenience store operator. Parkland services customers across Canada, the United States, the Caribbean region and the Americas through three channels: Retail, Commercial and Wholesale. Parkland optimizes its fuel supply across these three channels by operating and leveraging a growing portfolio of supply relationships and storage infrastructure. Parkland provides trusted and locally relevant fuel brands and convenience store offerings in the communities it serves.

Parkland creates value for shareholders by focusing on its proven strategy of growing organically, realizing a supply advantage and acquiring prudently and integrating successfully. At the core of our strategy are our people, as well as our values of safety, integrity, community and respect, which are embraced across our organization.

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CritiComms Inc., powered by ESChat technology is launching Advanced Push To Talk over Cellular (PoC) service for Latin America

Push To Talk is roaring back in Latin America. Investments estimated at Near 2 billion dollars are foreseen for the next 3 years

The new reseller will offer service in Argentina, Chile, Uruguay, Peru, Ecuador, Paraguay, Bolivia, Central America and the Caribbean.

Former executives of Nortel, Motorola and KodiakNetworksare on the board of the new company, which will bring broadband solutions for critical instant communications to the region

New Push To Talk service has been developed for operations over broadband cellular networks. The key sectors: government, defense, mining, security, health, hospitality, transport, construction, logistics, among others

MIAMI, July 22, 2021 /PRNewswire-HISPANIC PR WIRE/ – The company CritiComms Inc., has launched Push-to-Talk over Cellular (PoC) service in the LATAM and Caribbean regions. The CritiComms service aims to fill the demand left unattended by the shut down of iDEN platforms in the regions. With a more secure and advanced network architecture, CritiComms Inc. PTT increases the intelligence and productivity of work teams and offers total flexibility, since they work on multiple wireless networks (and provide freedom in the choice of operators and devices. The PoC solutions of CritiComms Inc., are not exclusive to any operator or any cellular technology.

Juan Luis Gutiérrez, CEO of CritiComms Inc., said: “Broadband solutions for critical PTT communications are an excellent opportunity for enterprises, government entities, public security and other sectors, as the investments do not demand new networks, but are integrated into existing ones.” The new company has already begun to deploy service powered by ESChat technology. Gutiérrez, former VP of Nortel and Motorola, assumed responsibility for the Caribbean and Latin America to deploy the Advanced Push To Talk over Cellular (PoC) applications.

ESChat is a market leader is advanced Push-to-Talk solutions in North America, where it offers a carrier agnostic and FirstNet Certified solution. FirstNet; born after September 11, 2001, to address the needs of public safety agencies has the ability to prioritize communications to these most demanding sectors and unify all networks simultaneously.

ESChat offers service for customers on all North American wireless carriers, and is the primary PTT solution for T-Mobile and Telus.  ESChat is used by a majority of departments within the US federal government..  “We are pleased to have CritiComms Inc. as a partner for the region where we expect strong adoption and success,” commented ESChat CEO, Josh Lober.

CritiComms Inc. provides maximum performance service without borders or limitations to the sectors that most demand these technologies: public and private security, government, health, hospitality, logistics, transport, construction and mining.

There is unsatisfied demand in Latin America due to the shutdown of the iDEN PTT networks. CritiComms Inc.’s critical instant communications solutions target this market.

The global PTT market is US 25B and it is estimated that, by 2024, it will be US 38B. Latin America would have about 10% of that market with a cumulative annual growth of more than 13.3%.  Criticomms Inc. Advanced PoC solutions work with most Android and iOS smartphones, iPads, tablets and Windows PCs.  The solutions can also work with rugged, purpose-built terminals according to the needs of the customers. Implementations are deployed jointly between CritiComms Inc., a chosen wireless operator and the customer, to create a solution tailored to each customer.

About CritiComms Inc. “powered” by ESChat
Regional leader in instant critical communications

Our Advanced Push-to-Talk over Cellular (PoC) service platform was developed by ESChat to meet the demanding needs of U.S. military contractors. Approved by the DISA (Defense Information System Agency) and FirstNet Certified, ESChat is the leader in the North American PTT market, and is now available in Caribbean and Latin America from CritiComms Inc. The Advanced Over-The-Top (OTT) PoC implementations of CritiComms Inc. provides total flexibility and an optimal experience of functionalities to our customers.   The CritiComms service works across multiple wireless networks, providing freedom in the choice of operators and devices. CritiComms Inc. Advanced OTT PoC systems provide strong end-to-end encryption with maximum security and compatibility with all radio networks.

Learn more at: www.criticomms.net

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Regus opens its first location in the Cayman Islands

ZUG, Switzerland, July 1, 2021 /PRNewswire/ — Global leader in flexible workspace solutions, International Workplace Group has opened its first property in the Cayman Islands.

Located in the capital George Town just five minutes from George Town Cruise port, the Regus centre opened to an event attended by the territory’s premier Wayne Panton, tourism minister Kenneth Bryan as well as members of senior government, the Chamber of Commerce, and business leaders from around the region.

Designed to serve local enterprises and entrepreneurs, Regus provides flexible workspace solutions for modern-day businesses, which, in tandem with government initiatives such as the Global Citizen Concierge Programme – a campaign to attract digital nomads to the territory – provide a springboard for growth and business development.

“The appetite for flexible, co-working spaces was growing in Cayman pre-COVID and the pandemic has only increased demand now that work habits have changed significantly. There is also a clear international demand from those who wish to take advantage of the Regus network and the Government’s Global Citizen Concierge Program, and we’ve been delighted to welcome several new members who seek a professional and flexible workspace under this initiative,” says Sophia List, Client Relationship Officer of the Regus Cayman location.

IWG has been at the fore of global workspace solutions for more than 30 years, with 2021 serving as a record year for the company, which added half a million users to its network in just the first quarter. The pandemic has had a dramatic impact on the way people work, with companies of all sizes indicating that hybrid work is here for the long term.

The addition of the Regus centre in George Town demonstrates the workplace provider’s investment in Grand Cayman’s capital, a move that will promote the brand’s expansion throughout the Caribbean, adding to locations in Jamaica, Barbados, Trinidad and Tobago.

About Regus

Regus is the world’s largest provider of flexible workspaces with an unrivaled network of offices, co-working, and meeting spaces that companies can use around the world. It is an infrastructure that supports all business opportunities – a global infrastructure built for businesses. The Regus network of workspaces allows companies to operate anywhere, with no set-up costs or capital investment. It offers customers immediate cost benefits and the ability to fully outsource their real estate portfolio.

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Mastercard And LATAM Airlines Group Sign Partnership Agreement To Enhance The Travel Experience

MIAMI and SANTIAGO, Chile, June 23, 2021 /PRNewswire-HISPANIC PR WIRE/ – Mastercard and LATAM Airlines Group announced today they have signed a seven-year agreement that seeks to enhance the travel experience for passengers around the world. As part of the agreement, the companies will introduce new credit card solutions and benefits that meet the evolving needs of frequent travelers—digitizing the travel experience with personalized, contactless, and secure technologies—and consists of two implementation phases.  The first, which begins today, expands the benefits of LATAM Pass credit cards in Chile, Argentina, Brazil and Ecuador. The second phase will begin later this year and will include other relevant markets within Latin America.

Mastercard & LATAM Airlines Group

For several years, Mastercard and LATAM Pass, the most relevant frequent flyer program in Latin America, have collaborated with issuing banks to introduce co-branded credit cards and benefits to their loyal customers when flying to more than 115 destinations within the LATAM network.

“Many industries, including travel, are accelerating their digital transformation to deliver innovations across consumer touch points,” said Kiki del Valle, executive vice president of Market Development for Latin America and the Caribbean for Mastercard. “With our data analytics and ability to continuously adjust to consumer trends and market forces, we are excited to innovate in the travel space together with the LATAM Airlines Group team, which is equally passionate about evolving the travel experience for the digitally connected traveler.”

LATAM Pass VP Ralph Piket noted that, “we are sure that the partnership agreement with Mastercard will allow us to not only further accelerate our innovation, but also to improve the travel experience of our customers. As we know, the future of the airline industry is essentially being digital and seamless, and LATAM is working in that regard. In this context, the partnership with Mastercard is a very relevant step on that path and adds to the launch of our e-business unit last year.”

Both parties will begin work on the launch of new benefits and new Mastercard LATAM Pass programs, offering more mileage accrual and redemption alternatives in both travel and partner merchants, which will be communicated as soon as they are available.

About Mastercard (NYSE: MA)
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments, and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.
www.mastercard.com

About LATAM
LATAM is the principal group of airlines in Latin America present in five domestic markets in the region: Brazil, Chile, Colombia, Ecuador and Peru, in addition to international operations inside Latin America and between it and Europe, the United States, and the Caribbean.
The group has a fleet of Boeing 767, 777, 787, Airbus A321, A320, A320neo and A319 aircraft.
LATAM Cargo Chile, LATAM Cargo Colombia, and LATAM Cargo Brazil are the LATAM Airlines freight subsidiaries. In addition to having access to the passenger cargo holds of LATAM Airlines Group, they have a fleet of 11 freighters, which will gradually increase to a total of up to 21 freighters by 2023.
They operate on the LATAM Group network as well as International routes that are solely used for shipping. They offer modern Infrastructure, a wide variety of services and protection options to meet all customer needs.
For press inquiries write to [email protected] latam.com . More financial information is available at www.latamairlinesgroup.net
www.latam.com

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Channel Capital Cayman adds new Director to its Governance Team

SYDNEY and GEORGE TOWN, Grand Cayman, June 23, 2021 /PRNewswire-HISPANIC PR WIRE/ — Channel Capital Cayman, a subsidiary company of Channel Capital Group (Channel), today announced the expansion of its Cayman team with the appointment of Carl Brenton as Director.

Carl Brenton, Director, Channel Capital Cayman

Channel Capital Cayman provides a high quality governance framework service to investment funds domiciled in the United States, Cayman Islands and other offshore financial centres. The business was established to leverage the deep and specialised experience of its team, and to provide ongoing compliance with regulatory obligations through a trusted and highly personalised independent director service.

As an experienced independent director, Carl has been providing fund governance and related services to a variety of offshore investment funds since 2016. Prior to joining Channel Capital Cayman, Carl served as the Head of Fund Services at both Catalyst Fund Administration and Intertrust Corporate Services where he oversaw the groups’ fund administration business in the Cayman Islands. Carl was a senior manager at Citco Fund Services (Cayman Islands) from 2005 to 2016 after working as a financial controller and public accountant since 1996.

The Cayman Islands is a world leader in the establishment of offshore funds due to its tax-neutrality, stable economy, sophisticated banking sector and professional financial service industry. Approximately 70% of non-US domiciled alternative investment funds managed by US SEC-registered advisors are domiciled in the Cayman Islands.

“We are pleased to have Carl join the business” said Mark Cook, Executive Director, Channel Capital Cayman. “Carl is very experienced in the alternative funds environment. He will add depth to our governance platform and will work closely with our clients to help them navigate the ever-changing and complex regulatory environment.”

Director at Channel Capital Cayman, Carl Brenton, said: “I am very pleased to be joining Mark and the rest of the Channel team. Mark and I previously worked together from 2005-2008 and it’s great to have the opportunity to join forces again. We are looking forward to leveraging off the strengths of the broader Channel Capital team to grow the business here in Cayman.”

-End-

About Channel Capital

Established in 2013, the Channel Capital Group has 32 employees across Sydney, Brisbane, Melbourne, New York and Grand Cayman, and currently partners with ten investment management firms. Channel provides incubation, distribution, operational and responsible entity services to a select group of global investment management firms. The Group comprises subsidiary companies; Channel Investment Management Limited, Channel Capital Cayman, and Eolas Capital LLC. Channel Capital is supported by financial partner, Kudu Investment Management LLC. https://www.channel.capital

Photo - https://mma.prnewswire.com/media/1549419/IMAGE_1.jpg

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ITF calls for regional cooperation to save jobs, tackle rising poverty and to lead economic recovery in the Caribbean

RIO DE JANEIRO, June 2, 2021 /PRNewswire-HISPANIC PR WIRE/ – The economic impact of COVID-19 is having a devastating effect on the global tourism industry, especially in the Caribbean which could see an escalation of poverty for workers. Unions affiliated to the International Transport Workers’ Federation (ITF) from across the Caribbean held a virtual summit today to raise awareness of the ongoing impact of COVID-19 on jobs and communities in the region.

The ITF and its 18 affiliated unions are calling on governments and employers to cooperate with trade unions to develop and implement a regional recovery plan that:

  • Prioritizes employment security
  • Guarantees free, universal access to vaccines
  • Re-establishes safe travel corridors

Globally the tourism industry accounts for over 300 million jobs. Travel restrictions have had a devastating effect on economies reliant on tourists. Many countries in the Caribbean rely heavily on tourism as an essential pillar of their economies and major contributor to GDP, in turn generating much needed employment in the region.

Tourism generates over $59 billion per year for the region. An estimated $26.4 billion has been lost due to the ongoing impact of the pandemic. Estimates also suggest that over 1.2 million jobs have been lost.

Not only have the job losses hit hard, but also the spending power of workers has been significantly reduced leading to the risk of widespread poverty and a stagnation of economic growth. Long-term development and recovery plans in the region are critical.

ITF General Secretary, Stephen Cotton said that: “The Caribbean is too important to ignore, and we have a duty to protect the infrastructure and livelihoods of those workers who make visiting so appealing to millions of tourists each year. We need a tripartite plan from governments, employers and unions for recovery. Listening to the concerns of our leaders today, it’s clear that we need action now. Investment in developing regional transport infrastructure is a good place to start”.

ITF Tourism Chair, David Messiah added: “My concern is that women and young workers are bearing a disproportionate number of job losses. These are the very groups of workers so critical to eradicating poverty in the Caribbean and needed in the industry’s recovery. Our regional partners must work with us to re-establish safe travel corridors and assist in access to vaccines. We need a coordinated approach across the Caribbean and should not rely on individual nation states as this only adds to the confusion. We must develop a unified approach that pools our resources together.”

ITF Regional Secretary, Edgar Diaz said “It is vitally important that workers do not feel forced to have the vaccination, education and engagement is key if we are to encourage participation. That’s why establishing a tripartite approach is fundamental to success and not fear and intimidation of individual workers.”

Trade union Leaders from Antigua and Barbuda, Barbados, Bermuda, Dominican Republic, Guyana, Grenada, Jamaica, Suriname, St Lucia, Trinidad took part in the summit.

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Parkland Advances Growth Strategy With Two International Transactions

CaribPRWire, CALGARY, Alberta, May 17, 2021: Parkland Corporation (“Parkland”, “we”, “our”, or “the Company”) (TSX:PKI) is pleased to announce, through its 75 percent ownership in Sol Investments SEZC (“Sol”), two transactions in our International business (the “International transactions”) which provide additional scale in the Caribbean and strengthen our position as a natural acquirer in the region.

“These transactions strengthen Parkland’s network throughout the Caribbean and extend our portfolio of growth opportunities in retail, commercial, LPG and aviation,” said Pierre Magnan, President of Parkland International. “Our International business currently spans 23 countries and provides a platform for continued organic growth and consolidation in the region. We are excited about the opportunity set in the International segment which we expect to play a significant role in achieving Parkland’s 2025 growth ambition.”

Details of the International transactions are as follows:

Creating the Dominican Republic’s largest retail network

Through the contribution of our approximately 80 retail locations, commercial and aviation marketing operations in the Dominican Republic (”DR”) and a follow-on investment, Sol will become a 50 percent indirect partner in Isla Dominicana de Petroleo Corp. (”Isla”). Isla currently operates a high-quality retail network with approximately 160 locations. The combined portfolio will comprise 240 retail locations (the largest retail network in the DR) alongside an integrated commercial and aviation business. As part of the agreement, Isla will operate the joint onshore marketing operations while Parkland will become the principal fuel supplier to the combined network.

Strategic rationale includes:

  • A market leading retail network in all major DR population centers with operational synergies
  • Strong free cash flow conversion with regulated on-shore margins in a high-growth market
  • Unlocks supply synergies through improved scale and optimized shipping logistics
  • A new partnership with a shared appetite for continued growth and renewable opportunities

Becoming the leading fuel marketer in St. Maarten

We have signed an agreement for the purchase of an integrated fuel marketing business with operations in St. Maarten. The acquisition includes retail, commercial, marine, LPG distribution and an aviation business. The acquisition strengthens our activities at the Princess Juliana International Airport (a hub for surrounding islands and major North American and European markets) and adds a complementary retail network.

As a result of the acquisition, we will become the leading fuel marketer in the Dutch side of St. Maarten and are well positioned to drive operational synergies.

Together with the Puerto Rico aviation acquisition disclosed with our first quarter 2021 results, the International transactions are expected to increase our International segment’s annual run-rate Adjusted EBITDA including non-controlling interest by approximately C$20 million (C$15 million attributable to Parkland), prior to additional growth and synergy upside.

The International transactions will be funded out of existing credit facility capacity. Subject to customary closing conditions, the transactions are expected to close in the third quarter of 2021.

Forward-Looking Statements

Certain statements contained in this news release constitute forward-looking information and statements (collectively, “forward-looking statements”). When used in this news release the words “expect”, “will”, “could”, “would”, “believe”, “continue”, “pursue” and similar expressions are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things: the successful completion of the transactions and timings thereof; expected benefits of the transactions, collectively and independently, as applicable, including without limitation, expected increase to the International segment’s run rate Adjusted EBITDA resulting from the International transactions, strengthening Parkland’s position as a natural acquirer in the region and its network in the Caribbean, extending Parkland’s growth opportunities, the projected growth and synergy upside, organic growth and consolidation opportunities, post-closing synergy opportunities, renewable opportunities, the creation of the largest retail network in DR and the size thereof and becoming the leading fuel marketer in St. Maarten; the International segment’s expected contribution to Parkland’s 2025 growth ambition; and the anticipated funding of the transactions.

These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These forward-looking statements speak only as of the date of this news release. Parkland does not undertake any obligations to publicly update or revise any forward-looking statements except as may be required by securities law. Actual results could differ materially from those anticipated in these forward-looking statements as a result of numerous risks and uncertainties including, but not limited to, failure to complete these transactions; failure to satisfy the conditions to closing of the transactions; failure to realize all or any of the anticipated benefits of the transactions; general economic, market and business conditions; competitive action by other companies; refining and marketing margins; the ability of suppliers to meet commitments; actions by governmental authorities and other regulators including but not limited to increases in taxes or restricted access to markets; changes and developments in environmental and other regulations; and other factors, many of which are beyond the control of Parkland. See also the risks and uncertainties described in “Forward-Looking Information” and “Risk Factors” included in Parkland’s Annual Information Form dated March 5, 2021 and in “Forward-Looking Information” and “Risk Factors” in Parkland’s annual MD&A for the year ended December 31, 2020 dated March 4, 2021 and in the interim MD&A for the three month period ended March 31, 2021 dated May 3, 2021, each as filed on SEDAR and available on the Parkland website at www.parkland.ca.

Expected increase in our International segment’s annual run-rate Adjusted EBITDA is based on anticipated full-year impact of the combined Puerto Rico aviation acquisition (disclosed May 3, 2021) and the International transactions; future performance of such businesses may differ from expectations due to the numerous risks and uncertainties as noted above. Due to closing date impacts of the transactions and other factors, this does not represent the expected 2021 Adjusted EBITDA impact for the International segment.

Non-GAAP Financial Measures

Adjusted EBITDA is a measure of segment profit. See Section 9 and Section 14 of the Q1 2021 MD&A and Note 13 of the Q1 2021 FS for a reconciliation of these measures of segment profit. Investors are encouraged to evaluate each measure and the reasons Parkland considers it appropriate for supplemental analysis.

Investors are cautioned that these measures should not be construed as an alternative to net earnings determined in accordance with IFRS as an indication of Parkland’s performance.

About Parkland
Parkland is an independent supplier and marketer of fuel and petroleum products and a leading convenience store operator. Parkland services customers across Canada, the United States, the Caribbean region and the Americas through three channels: Retail, Commercial and Wholesale. Parkland optimizes its fuel supply across these three channels by operating and leveraging a growing portfolio of supply relationships and storage infrastructure. Parkland provides trusted and locally relevant fuel brands and convenience store offerings in the communities it serves.

Parkland creates value for shareholders by focusing on its proven strategy of growing organically, realizing a supply advantage and acquiring prudently and integrating successfully. At the core of our strategy are our people, as well as our values of safety, integrity, community, and respect, which are embraced across our organization.

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Parkland Corporation Announces the Results of the 2021 Annual General Meeting of Shareholders

CaribPR Wire, CALGARY, Alberta, May 04, 2021: Parkland Corporation, (”Parkland”, “We”, the “Company”, or “Our”) (TSX:PKI) held its annual General meeting of shareholders on May 4, 2021 (the “Meeting”).

The Company is pleased to announce that all nine of the nominees listed in its management information circular dated March 2, 2021 (the “Information Circular”) were elected as directors of the Corporation and PricewaterhouseCoopers LLP was reappointed as Parkland’s auditor at its annual general meeting of shareholders held today (the “Meeting”).

The results of these votes, as well as the results for the other items of business considered at the Meeting are set out below:

Resolution 1

Election of directors of Parkland for the ensuing year.

Nominee Votes For %For Votes Withheld %Withheld
John F. Bechtold 79,789,479 91.67% 7,254,202 8.33%
Lisa Colnett 83,878,189 96.36% 3,165,492 3.64%
Robert Espey 86,099,921 98.92% 943,760 1.08%
Timothy Hogarth 86,682,577 99.59% 361,104 0.41%
Jim Pantelidis 82,676,070 94.98% 4,367,611 5.02%
Domenic Pilla 83,550,992 95.99% 3,492,689 4.01%
Steven Richardson 83,715,080 96.18% 3,328,601 3.82%
David A. Spencer 84,397,735 96.96% 2,645,946 3.04%
Deborah Stein 83,692,650 96.15% 3,351,031 3.85%

Resolution 2

The reappointment of PricewaterhouseCoopers LLP, Chartered Accountants, as auditor of Parkland for the fiscal year ending December 31, 2021.

Votes For 87,006,198 99.58%
Votes Withheld 369,171 0.42%

Resolution 3

The approval, on a non-binding and advisory basis, of Parkland’s approach to executive compensation as more particularly set forth and described in the Information Circular.

Votes For 83,129,244 95.50%
Votes Against 3,914,437 4.50%

Voting results for all matters have been posted on SEDAR.

About Parkland Corporation

Parkland is an independent supplier and marketer of fuel and petroleum products and a leading convenience store operator. Parkland services customers across Canada, the United States, the Caribbean region and the Americas through three channels: Retail, Commercial and Wholesale. Parkland optimizes its fuel supply across these three channels by operating and leveraging a growing portfolio of supply relationships and storage infrastructure. Parkland provides trusted and locally relevant fuel brands and convenience store offerings in the communities it serves.

Parkland creates value for shareholders by focusing on its proven strategy of growing organically, realizing a supply advantage and acquiring prudently and integrating successfully. At the core of our strategy are our people, as well as our values of safety, integrity, community and respect, which are embraced across our organization.

Click Here for More Information »

Parkland announces strong 2021 first quarter results and outlines 2025 growth ambition

CaribPRWire, CALGARY, Alberta, May 03, 2021: Parkland Corporation (”Parkland”, “we”, the “Company”, or “our”) (TSX:PKI) announced today its financial and operating results for the three months ended March 31, 2021 (”Q1 2021″). Highlights include:

  • Adjusted EBITDA attributable to Parkland (”Adjusted EBITDA”) of $314 million, up 64 percent year-over-year. Despite continued COVID-19 impacts, we benefited from lower costs, continued strong per unit fuel margins and Company C-store same-store sales growth (”SSSG”) in Canada, U.S. acquisition growth, solid performance in International and higher utilization at the Burnaby refinery.
  • Net earnings attributable to Parkland of $31 million, or $0.21 per share, basic, an increase of $110 million relative to prior year.
  • Cash flow from operations fully funded capital expenditures, acquisitions and net dividend payments in the quarter.
  • Combined Operating and Marketing, General and Administrative (”MG&A”) costs of $331 million, $52 million lower than prior year, reflecting disciplined cost management and the variability in our cost structure.
  • Total Funded Debt to Credit Facility EBITDA ratio of 3.0 times as of March 31, 2021.
  • Further enhanced financial flexibility through an amended credit facility agreement (maturing 2026) and refinanced senior notes maturing in 2024, 2025 and 2026 with new senior notes maturing in 2029. These actions reduce average annual interest costs by approximately $20 million and extend our nearest senior note maturity to 2027.

“We delivered a strong start to the year and have high confidence in our 2021 outlook,” said Bob Espey, President and Chief Executive Officer. “In addition to strong underlying business performance, we progressed our enterprise-wide organic growth initiatives, announced or closed five transactions, significantly enhanced our financial flexibility and lowered annual interest costs. We are well-positioned to advance our ambitious growth strategy and sustainability journey.”

Q1 2021 Segment Highlights

  • In Canada, fuel margins, convenience store sales and lower costs in our retail and commercial business lines drove Adjusted EBITDA of $116 million, up $14 million relative to Q1 2020. Company C-Store SSSG was 5.5 percent, our 21st consecutive quarter of growth. We maintained retail market share, benefited from enhanced digital pricing capabilities and surpassed 1.8 million JOURNIE™ Rewards members.
  • In International, enhanced logistics, shipping optimization and the continued benefit of cost control initiatives supported Adjusted EBITDA of $67 million, in-line with Q1 2020. This strong operational execution offset lower tourist activity and an approximate $4 million negative impact from a weakened U.S. dollar.
  • In USA, Adjusted EBITDA of $20 million was up $4 million relative to Q1 2020, benefiting from acquisitions announced during the fourth quarter of 2020, our growing supply advantage and national accounts growth. This was partially offset by reduced oil and gas activity in our Northern ROC, lower marine activity in the Southeast ROC and a weaker U.S. dollar.
  • In Supply, Adjusted EBITDA of $136 million was up $94 million relative to Q1 2020, primarily driven by Burnaby composite refinery utilization of 91 percent, (31 percent in Q1 2020 due to the scheduled turnaround). Supply benefited from co-processing initiatives and blending optimization at the Burnaby refinery coupled with solid performance from our integrated logistics business.
  • Corporate Adjusted EBITDA expense of $25 million, down $11 million relative to Q1 2020, driven by lower realized foreign exchange impacts and disciplined cost management.

$2 billion ambition

Our growth platform is stronger than ever and we have a proven track record of value creation. Underpinned by our disciplined approach to capital allocation, the key pillars of our strategy remain fundamental to our ambition for $2 billion of run-rate Adjusted EBITDA by the end of 2025:

Grow Organically
Robust pipeline of organic growth opportunities in retail, commercial and supply, across all our geographies. Organic growth is supported by strong brands, customer value proposition, loyalty programs and digital insights.

Acquire Prudently & Integrate
Depth of high-quality consolidation opportunities across all of our geographies. Together with our disciplined approach, established integration capabilities and synergy capture, we are well-positioned to add incremental value to acquisitions.

Strong Supply Advantage
Leverage our growing scale, product diversity and capital light infrastructure to enhance margins. Continue to invest in safe and reliable operations and renewable fuel manufacturing at our Burnaby refinery.

One Parkland
Powering journeys and energizing communities through our common values and behaviours. Safe, reliable and local customer service underpinned by organizational capability and a performance driven culture.

“As we continue to meet our customers’ mobility needs, we see growth opportunities across multiple business lines and geographies,” added Espey. “In addition to what has made us successful over the past decade, we see opportunity to grow our renewable fuel business while harnessing our existing network to provide electric vehicle charging options.”

2021 Investor Day

Parkland will host an investor day the morning of November 16, 2021. The event will be held in Toronto, Ontario (level of in-person attendance to be determined) and simultaneously webcast with video, for those unable to attend in-person. Members of Parkland’s leadership team will provide updates on our long-term growth initiatives, renewable fuel and electric vehicle charging opportunities, capital allocation and financial outlook. Registration and other details will be provided closer to the date.

Our Sustainability Journey

As we advance our sustainability journey, we will provide regular updates on our environmental, social and governance efforts as part of our normal disclosure process. Recent highlights include:

  • Plan to publish our next Sustainability report in Q4 2021. This disclosure will build upon our inaugural report and will contain an overview of our enterprise-wide sustainability strategy, including GHG emissions reduction targets.
  • Continued to increase our renewable fuel manufacturing capability at the Burnaby refinery, co-processing a record 25 million litres of bio-feedstocks during the quarter. We are on track with our 2021 co-processing target of 100 million litres (equivalent effect of taking over 80,000 passenger vehicles off the road).
  • On March 1, 2021, we launched a ‘carbon offset’ reward option as part of our JOURNIE™ Rewards program to help our customers offset their own emissions. In the first 30 days, over 23,000 Carbon offsets were selected by JOURNIE™ members with the value directed toward a landfill gas capture and utilization project in Niagara, Ontario, removing the equivalent of more than 3,000 tons of CO2 from the atmosphere. This project helps create healthier communities and promotes sustainable management of greenhouse gases.
  • Parkland is committed to diversity at all levels of the organization. The Board of Directors has adopted a written diversity policy which sets a target for women to occupy at least 30 percent of Board seats and executive officer positions by 2023, and 2025, respectively. Women currently occupy 22 percent of Board seats and 20 percent of executive officer positions.

Year-to-date acquisitions

  • In January 2021, we completed the acquisition of two Midwest U.S. LPG terminals to expand our integrated logistics business and enhance our overall LPG supply optionality.
  • In February 2021, we completed the acquisition of the assets of Story Distributing Company and its affiliates (collectively “Story”). Story is a retail and commercial fuel business based in Bozeman, Montana, which expands our presence in the Montana and Idaho-based markets.
  • In March 2021, we completed the acquisition of a residential and commercial LPG distributor in St. Maarten which further supports our LPG growth strategy in the International segment.
  • In April 2021, we completed the acquisition of Conrad & Bischoff Inc. and its related companies (collectively, “C&B”). This acquisition establishes our fourth U.S. ROC, strengthens our supply advantage and adds a high-quality retail network to our portfolio. Please see our press release dated February 26, 2021 for more information regarding the acquisition.
  • In April 2021, we signed an agreement for the purchase of an aviation business and associated infrastructure with operations in Puerto Rico. The acquisition includes operations at two International airports in Puerto Rico, including the Luis Munoz Marin International Airport, which is the busiest in the Caribbean region. This acquisition expands our presence in the well-diversified Puerto Rico market and unlocks positive network effects for our regional aviation portfolio. The transaction is expected to close by the end of the second quarter of 2021.

Consolidated Financial Overview

($ millions, unless otherwise noted) Three months ended March 31,
Financial Summary 2021 2020 2019
Sales and operating revenue(1) 4,233 4,316 4,215
Fuel and petroleum product volume (million litres)(1) 5,536 5,908 5,336
Adjusted gross profit(2) 665 593 697
Adjusted EBITDA including non-controlling interest (”NCI”) 337 214 339
Adjusted EBITDA attributable to Parkland (”Adjusted EBITDA”)(2) 314 191 315
Canada(3) 116 102 117
International 67 67 71
USA(4) 20 16 11
Supply(4) 136 42 143
Corporate (25 ) (36 ) (27 )
Net earnings (loss) 38 (74 ) 91
Net earnings (loss) attributable to Parkland 31 (79 ) 77
Net earnings (loss) per share – basic ($ per share) 0.21 (0.53 ) 0.53
Net earnings (loss) per share – diluted ($ per share) 0.20 (0.53 ) 0.52
Dividends 47 45 43
Per share 0.3053 0.3002 0.2951
Weighted average number of common shares (million shares) 150 148 145
Total assets 9,592 9,446 8,998
Non-current financial liabilities 4,311 4,376 4,269

(1) Certain amounts within sales and operating revenue and fuel and petroleum product volumes were restated and reclassified to conform to the presentation used in the current period.
(2) Measure of segment profit and Non-GAAP financial measures. See Section 14 of the MD&A.
(3) For comparative purposes, information for the year ended December 31, 2019 was restated due to a change in segment presentation. Canada Retail and Canada Commercial, formerly presented separately as individual segments, and the Canadian distribution business, formerly presented in Supply, are now included in Canada, reflecting a change in organizational structure in 2020.
(4) For comparative purposes, information for previous periods was restated due to a change in segment presentation. The supply and trading business in the United States, formerly presented in the Supply segment, is now included in the USA segment, reflecting a change in organizational structure in the first three months of 2021.

Conference Call and Webcast Details

Parkland will host a webcast and conference call on Tuesday, May 4, at 6:30am MDT (8:30am EDT) to discuss the results. To listen to the live webcast and watch the presentation, please use the following link:

https://produceredition.webcasts.com/starthere.jsp?ei=1450915&tp_key=c49f8f1250

Analysts and institutional investors interested in participating in the question and answer session of the conference call may do so by calling 1-888-390-0605 (toll-free) (Conference ID: 83343797). International participants can call 1-587-880-2171 (toll) (Conference ID: 83343797).

Please connect and log in approximately 10 minutes before the beginning of the call.

The webcast will be available for replay two hours after the conference call ends at the link above. It will remain available for one year and will also be posted to www.parkland.ca.

MD&A and Consolidated Financial Statements

The Q1 2021 MD&A and Q1 2021 Financial Statements provide a detailed explanation of Parkland’s operating results for the three months ended March 31, 2021. An English version of these documents will be available online at www.parkland.ca and SEDAR after the results are released by newswire under Parkland’s profile at www.sedar.com. The Q1 2021 French MD&A and Q1 2021 French Financial Statements will be posted to www.parkland.ca and SEDAR as soon as they become available.

Forward-Looking Statements

Certain statements contained in this news release constitute forward-looking information and statements (collectively, “forward-looking statements”). When used in this news release the words “expect”, “will”, “could”, “would”, “believe”, “continue”, “pursue” and similar expressions are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things, business objectives and strategies, Parkland’s ambition to generate run-rate Adjusted EBITDA of $2 billion by 2025 and the key strategic pillars underpinning such ambition, Parkland’s 2021 Adjusted EBITDA and maintenance and capital expenditures guidance, expected benefits to be derived from acquisitions, potential future acquisition opportunities, potential growth in Parkland’s renewable fuels business, Parkland’s ability to harness its existing retail network to meet our customer’s mobility needs, including with respect to electric vehicle charging options, Parkland’s robust pipeline of organic growth opportunities, potential projects to extend Parkland’s supply advantage, expected Burnaby refinery utilization rates, and Parkland’s ability to advance its growth agenda.

These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These forward-looking statements speak only as of the date of this news release. Parkland does not undertake any obligations to publicly update or revise any forward-looking statements except as required by securities law. Actual results could differ materially from those anticipated in these forward-looking statements as a result of numerous risks, assumptions and uncertainties including, but not limited to, general economic, market and business conditions, including the duration and impact of the COVID-19 pandemic; Parkland’s ability to execute its business strategies, including without limitation, Parkland’s ability to consistently identify accretive acquisition targets and successfully integrate them, successfully implement organic growth initiatives and to finance such acquisitions and initiatives on reasonable terms; Parkland’s ability to grow its supply advantage by leveraging its scale and infrastructure; industry capacity; competitive action by other companies; refining and marketing margins; the ability of suppliers to meet commitments; actions by governmental authorities and other regulators including but not limited to increases in taxes or restricted access to markets; changes and developments in environmental and other regulations; and other factors, many of which are beyond the control of Parkland. See also the risks and uncertainties described in “Forward-Looking Information” and “Risk Factors” included in Parkland’s Annual Information Form dated March 30, 2020, and “Forward-Looking Information” and “Risk Factors” included in the Q1 2021 MD&A dated May 3, 2021 and the Q4 2020 MD&A dated March 4, 2021, each filed on SEDAR and available on the Parkland website at www.parkland.ca. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

Non-GAAP Financial Measures

This news release refers to certain non-GAAP financial measures that are not determined in accordance with International Financial Reporting Standards (”IFRS”). Distributable cash flow, distributable cash flow per share, adjusted distributable cash flow, adjusted distributable cash flow per share, total funded debt to credit facility EBITDA ratio, dividend payout ratio, adjusted dividend payout ratio and growth and maintenance capital expenditures attributable to Parkland are not measures recognized under IFRS and do not have standardized meanings prescribed by IFRS. Management considers these to be important supplemental measures of Parkland’s performance and believes these measures are frequently used by securities analysts, investors and other interested parties in the evaluation of companies in our industry. See Section 14 of the Q1 2021 MD&A for a discussion of non-GAAP measures and their reconciliations to the nearest applicable IFRS measure.

Adjusted EBITDA and adjusted gross profit are measures of segment profit. See Section 9 and Section 14 of the Q1 2021 MD&A and Note 13 of the Q1 2021 FS for a reconciliation of these measures of segment profit. Investors are encouraged to evaluate each measure and the reasons Parkland considers it appropriate for supplemental analysis.

In addition to non-GAAP financial measures, Parkland uses a number of operational KPIs, such as SSSG and refinery utilization, to measure the success of our strategic objectives and to set variable compensation targets for employees. These KPIs are not accounting measures, do not have comparable IFRS measures, and may not be comparable to similar measures presented by other issuers, as other issuers may calculate these metrics differently. See Section 14 of the Q1 2021 MD&A for further details.

Tons of CO2 equivalent removed from the atmosphere resulting from the JOURNIE™ Rewards ‘carbon offset’ reward option is based on 23,000 carbon offset selections at a price of $3.50 per ton of CO2.

Investors are cautioned that these measures should not be construed as an alternative to net earnings determined in accordance with IFRS as an indication of Parkland’s performance.

About Parkland Corporation

Parkland is an independent supplier and marketer of fuel and petroleum products and a leading convenience store operator. Parkland services customers across Canada, the United States, the Caribbean region and the Americas through three channels: Retail, Commercial and Wholesale. Parkland optimizes its fuel supply across these three channels by operating and leveraging a growing portfolio of supply relationships and storage infrastructure. Parkland provides trusted and locally relevant fuel brands and convenience store offerings in the communities it serves.

Parkland creates value for shareholders by focusing on its proven strategy of growing organically, realizing a supply advantage and acquiring prudently and integrating successfully. At the core of our strategy are our people, as well as our values of safety, integrity, community and respect, which are embraced across our organization.

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Parkland announces date of 2021 first quarter results and virtual Annual General Meeting

CaribPR Wire, CALGARY, Alberta, April 15, 2021: Parkland Corporation (“Parkland”) (TSX:PKI) expects to announce its 2021 first quarter results after markets close on Monday, May 3, 2021. A conference call and webcast will then be held at 6:30 a.m. MDT (8:30 a.m. EDT) on Tuesday, May 4, 2021, to discuss the results.

To listen to the live webcast and watch the presentation, please use the following link:
https://produceredition.webcasts.com/starthere.jsp?ei=1450915&tp_key=c49f8f1250

Analysts and institutional investors interested in participating in the question and answer session of the conference call may do so by calling 1-888-390-0605 (toll-free) (Conference ID: 83343797).

Please connect and log in approximately 10 minutes before the beginning of the call. The webcast will be available for replay two hours after the conference call ends at the link above. It will remain available for one year and will also be posted to www.parkland.ca.

Financial Statements and Management’s Discussion and Analysis will be posted to www.parkland.ca and SEDAR after the results are released.

Virtual Annual General Meeting
Parkland will hold its 2021 Annual General Meeting of shareholders in a virtual-only format. The virtual-only meeting will be conducted via live audio webcast online on Tuesday, May 4, 2021, at 9:00 a.m. MDT (11:00 a.m. EDT).

All Shareholders will be able to attend the live virtual meeting. Information for shareholders is posted in Parkland’s Management Information Circular available at www.parkland.ca and under Parkland’s profile at www.sedar.com.

About Parkland
Parkland is an independent supplier and marketer of fuel and petroleum products and a leading convenience store operator. Parkland services customers across Canada, the United States, the Caribbean region and the Americas through three channels: Retail, Commercial and Wholesale. Parkland optimizes its fuel supply across these three channels by operating and leveraging a growing portfolio of supply relationships and storage infrastructure. Parkland provides trusted and locally relevant fuel brands and convenience store offerings in the communities it serves.

Parkland creates value for shareholders by focusing on its proven strategy of growing organically, realizing a supply advantage and acquiring prudently and integrating successfully. At the core of our strategy are our people, as well as our values of safety, integrity, community and respect, which are embraced across our organization.

Click Here for More Information »

Parkland Announces Closing of Senior Unsecured Notes Offering

CaribPR Wire, CALGARY, Alberta, April 13, 2021: Parkland Corporation (“Parkland”) (TSX:PKI) announced today the closing of its previously announced private offering (the “offering”) of US$800 million aggregate principal amount of 4.500% senior unsecured notes due 2029 (the “notes”).

Parkland will use the net proceeds of the offering to redeem all of its 6.000% senior notes due 2026 in the aggregate principal amount of US$500 million, to redeem the remaining C$200 million of its 5.625% senior notes due 2025 in the aggregate principal amount of C$500 million not already called for redemption and repay certain amounts outstanding under its revolving bank credit facility.

The notes were offered and sold only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the U.S. Securities Act of 1933, as amended (the “Securities Act”) and offered and sold outside the United States to a non-U.S. person pursuant to Regulation S under the Securities Act. The notes have not been registered under the Securities Act or any state securities laws, and unless so registered, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy any of these notes, except as required by law, nor shall there be any offer or sale of the notes in any state, or jurisdiction in which such offer, solicitation, or sale would be unlawful. This news release is neither an offer to purchase nor a solicitation of an offer to sell any of the 6.000% senior notes due 2026 or the 5.625% senior notes due 2025 and this press release shall not constitute a notice of redemption in respect therefor.

Forward-Looking Statements

Certain statements contained in this news release constitute forward-looking information and statements (collectively, “forward -looking statements”). When used in this news release the words “may”, “will”, “would” and similar expressions are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to the use of proceeds from the offering, the redemption of the 6.000% senior notes and the 5.625% senior notes and the repayment of certain amounts outstanding under Parkland’s revolving bank credit facility.

No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. See the risks and uncertainties described in “Forward-Looking Information” and “Risk Factors” included in Parkland’s Annual Information Form dated March 5, 2021 and in “Forward-Looking Information” and “Risk Factors” in the management’s discussion and analysis for the year ended December 31, 2020, dated March 4, 2021, which are filed on SEDAR and available on the Parkland website at www.parkland.ca. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

About Parkland Corporation

Parkland is an independent supplier and marketer of fuel and petroleum products and a leading convenience store operator. Parkland services customers across Canada, the United States, the Caribbean region and the Americas through three channels: Retail, Commercial and Wholesale. Parkland optimizes its fuel supply across these three channels by operating and leveraging a growing portfolio of supply relationships and storage infrastructure. Parkland provides trusted and locally relevant fuel brands and convenience store offerings in the communities it serves.

Parkland creates value for shareholders by focusing on its proven strategy of growing organically, realizing a supply advantage and acquiring prudently and integrating successfully. At the core of our strategy are our people, as well as our values of safety, integrity, community and respect, which are embraced across our organization.

Click Here for More Information »

Parkland Announces US$800 Million Offering of Senior Unsecured Notes

CaribPR Wire, CALGARY, Alberta, March 29, 2021: Designated News Release – Parkland Corporation (“Parkland”, “we”, the “Company”, or “our”) (TSX:PKI) announced today a private offering of US$800 million aggregate principal amount of senior unsecured notes (the “Offering”). The notes will bear interest at 4.500% per annum and are due October 1, 2029.

Parkland intends to use the net proceeds of the Offering to (i) redeem on April 14, 2021 all of the outstanding US$500 million aggregate principal amount of its 6.000% senior notes with a final maturity date of April 1, 2026, (ii) redeem on May 10, 2021 the remaining C$200 million of its C$500 million aggregate principal amount of 5.625% senior notes with a final maturity date of May 9, 2025 not already called for redemption (with conditional redemption notices for such redemptions issued today), and (iii) repay certain amounts outstanding under its revolving bank credit facility.

The notes will be offered and sold only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the U.S. Securities Act of 1933, as amended (the “Securities Act”) and may be offered and sold outside the United States to a non-U.S. person pursuant to Regulation S under the Securities Act. The notes have not been registered under the Securities Act or any state securities laws, and unless so registered, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy any of these notes, nor shall there be any offer or sale of the notes in any state, or jurisdiction in which such offer, solicitation, or sale would be unlawful. This news release is neither an offer to purchase nor a solicitation of an offer to sell any of the 6.000% senior notes or the 5.625% senior notes and this press release shall not constitute a notice of redemption in respect thereof.

Forward-Looking Statements

Certain information included herein is forward-looking. Many of these forward looking statements can be identified by words such as “believe”, “expects”, “expected”, “will”, “intends”, “projects”, “projected”, “anticipates”, “estimates”, “continues”, “objective” or similar words and include, but are not limited to, statements regarding the completion of the Offering, the use of proceeds of the Offering and statements regarding the redemptions for the 6.000% senior notes and the 5.625% senior notes. Parkland believes the expectations reflected in such forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon.

The forward-looking statements contained herein are based upon certain assumptions and factors including, without limitation: historical trends, current and future economic and financial conditions, and expected future developments. Parkland believes such assumptions and factors are reasonably accurate at the time of preparing this press release. However, forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties some of which are described in Parkland’s annual information form dated March 5, 2021 (the “AIF”) and other continuous disclosure documents. Such forward-looking statements necessarily involve known and unknown risks and uncertainties and other factors, which may cause Parkland’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward looking statements. Such factors include, but are not limited to, risks associated with: closing of the Offering and effecting the Redemptions since they are conditional on closing of the Offering; failure to obtain any necessary consents and approvals required to complete the Offering; failure to complete the Offering and Redemptions; and general economic, market and business conditions; and other factors, many of which are beyond the control of Parkland. There is a specific risk that Parkland may be unable to complete the Offering and the Redemptions in the manner described in this press release or at all. If Parkland is unable to complete the Offering and/or Redemptions, there could be a material adverse impact on Parkland and on the value of its securities. Readers are directed to, and are encouraged to read, Parkland’s management discussion and analysis for the year ended December 31, 2020 (the “MD&A”) and the AIF, including the disclosure contained under the heading “Risk Factors” therein (including COVID-19 related risk factors). The MD&A and AIF are available by accessing Parkland’s profile on SEDAR at www.sedar.com and such information is incorporated by reference herein.

Any forward-looking statements are made as of the date hereof and Parkland does not undertake any obligation, except as required under applicable law, to publicly update or revise such statements to reflect new information, subsequent or otherwise. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

About Parkland Corporation

Parkland is an independent supplier and marketer of fuel and petroleum products and a leading convenience store operator. Parkland services customers across Canada, the United States, the Caribbean region and the Americas through three channels: Retail, Commercial and Wholesale. Parkland optimizes its fuel supply across these three channels by operating and leveraging a growing portfolio of supply relationships and storage infrastructure. Parkland provides trusted and locally relevant fuel brands and convenience store offerings in the communities it serves.

Parkland creates value for shareholders by focusing on its proven strategy of growing organically, realizing a supply advantage and acquiring prudently and integrating successfully. At the core of our strategy are our people, as well as our values of safety, integrity, community and respect, which are embraced across our organization.

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Canada Life Reinsurance announces €4.7 Billion longevity agreement with Athora Netherlands

DUBLIN, March 18, 2021 /PRNewswire-HISPANIC PR WIRE/ – Canada Life Reinsurance is pleased to announce that it has recently entered into a long-term longevity reinsurance agreement with Athora Netherlands covering €4.7 billion of in-force liabilities and 104,500 in-payment and deferred policies.

Jeff Poulin, Global Head of Canada Life Reinsurance, affirms this agreement is another example of Canada Life Reinsurance’s strength as a partner for longevity reinsurance transactions globally.

“We are pleased to build and grow our relationship with Athora Netherlands with this major reinsurance agreement,” says Poulin. “It demonstrates our ability to work together with our partners to meet their reinsurance needs and adapt our solutions to their needs over time.”

Canada Life Reinsurance offers a range of innovative risk and capital management solutions for life, health and non-life risk to insurers, reinsurers, and pension funds globally.

About Canada Life Reinsurance

Canada Life Reinsurance provides its clients with reinsurance solutions for life and health, annuity, and property & casualty business through its offices in the United States, Canada, Ireland, Bermuda, and Barbados. Canada Life Reinsurance is a division of The Canada Life Assurance Company and certain of its subsidiaries and affiliates. The Canada Life Assurance Company is a subsidiary of Great-West Lifeco Inc. To learn more, visit canadalifere.com.

About Great-West Lifeco Inc.

Great-West Lifeco is an international financial services holding company with interests in life insurance, health insurance, retirement and investment services, asset management and reinsurance businesses. We operate in Canada, the United States and Europe under the brands Canada Life, Empower Retirement, Putnam Investments, and Irish Life.  At the end of 2020, our companies had approximately 24,500 employees, 205,000 advisor relationships, and thousands of distribution partners – all serving our more than 30 million customer relationships across these regions.

Great-West Lifeco and its companies have approximately CDN $2.0 trillion in consolidated assets under administration as at December 31, 2020 and are members of the Power Corporation group of companies.  Great-West Lifeco trades on the Toronto Stock Exchange (TSX) under the ticker symbol GWO.  To learn more, visit greatwestlifeco.com.

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Path to 100% experts share the latest developments fueling the renewable energy transition

Path to 100% is an objective community bringing together thought leaders and industry leading experts to discover solutions, raise awareness, and create a dialogue on creating an operationally and financially realistic approach towards a 100% renewable energy future. This initiative is made possible by Wärtsilä, a global leader in smart technologies and complete lifecycle solutions for marine and energy markets.

CaribPR Wire, HOUSTON, March 16, 2021: The renewable energy transition is complex, but it is possible, practical and affordable. That is the topic global smart technology leader, Wärtsilä, will explore during the S&P Global Platts Central America and Caribbean Energy Webinar March 18. Energy Business Director, Latin America North, Wärtsilä Energy, Sampo Suvisaari; Business Development Manager, Latin America North, Raúl Carral and Business Development Manager, Central America and Caribbean, Francisco Picasso will discuss decarbonization strategies.

Suvisaari will chair the event and moderate the first panel discussion titled Fuel choices and dilemmas; fuel oil and LNG in Central America and the Caribbean.

“In these rapidly changing times for the energy industry in Central America the choice of fuel and of renewable energy deployment is more critical than ever,” Suvisaari said. “Now is the time to think of how to future-proof your investments for the next two decades and beyond.”

The blackouts in Texas and California revealed the need for firm capacity. Carral explains the value of these fuels to Latin America.

“Due to environmental and economic reasons we see in Central America and the Caribbean the continuous strong development of renewable energies like solar and wind power while there is also a continuous emergence of fuels, like natural gas / LNG, propane / LPG, and even ammonia and hydrogen, among others,” Carral said. “These new fuels in the region will prove to be most valuable when they operate with flexible power technologies, which will be also more prominent while integrating intermittent renewable energy.”

Picasso will moderate a panel discussion on renewable energy.

“The path to 100% requires ongoing discussion with thought leaders and industry experts to raise awareness and discover operational and financially realistic approaches to reliable decarbonization,” Picasso added. “A renewable energy future requires addressing economic, technological and political challenges which are different throughout the world.”

The three-hour webinar will begin at 9:00 a.m. EDT on March 18 and there is no charge for the event. Registrations close at 9:00 a.m. on March 17.

Wärtsilä Energy Business in brief
Wärtsilä Energy Business leads the transition towards a 100% renewable energy future. We help our customers unlock the value of the energy transition by optimising their energy systems and future-proofing their assets. Our offering comprises flexible power plants, energy management systems, and storage, as well as lifecycle services that ensure increased efficiency and guaranteed performance. Wärtsilä has delivered 72 GW of power plant capacity in 180 countries around the world.
https://www.wartsila.com/energy/

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/eea0d8f5-6589-4f59-bd02-0cba87dc428d

Especialistas de Path to 100% comparten los más recientes desarrollos que promueven la transición a la energía renovable

CARIBPR WIRE, HOUSTON, March 17, 2021: La transición hacia la energía renovable es compleja, sin embargo, es posible, práctica y asequible. Ese es el tema que el líder mundial de tecnología inteligente, Wärtsilä, explorará durante el Webinar de Energía en Centroamérica y el Caribe de S&P Global Platts el 18 de marzo. Sampo Suvisaari, director de negocios de energía de Wärtsilä Energy, Norte de América Latina; Raúl Carral gerente de desarrollo de negocios, Norte de América Latina y Francisco Picasso gerente de desarrollo de negocios, Centroamérica y el Caribe tratarán sobre las estrategias de descarbonización.

Suvisaari presidirá el evento y moderará el primer debate titulado, Opciones y dilemas de combustibles; fuelóleo y GNL en Centroamérica y el Caribe.

“En estos tiempos de rápido cambio para el sector energético en Centroamérica, la elección de combustible y de la implementación de energía renovable es más crítica que nunca”, dijo Suvisaari. “Hoy es el momento de pensar en cómo proteger sus inversiones en el futuro para las próximas dos décadas y más adelante”.

Los apagones en Texas y California revelaron la necesidad de capacidad firme. Carral explica el valor de estos combustibles para América Latina.

“Debido a razones ambientales y económicas hemos observado en Centroamérica y el Caribe el desarrollo continuo y fuerte de energías renovables, como la energía solar y eólica, además del surgimiento continuo de combustibles, como gas natural/GNL, propano/GLP, e incluso amoníaco e hidrógeno, entre otros”, dijo Carral. “Estos nuevos combustibles en la región comprobarán ser más valiosos cuando operen con tecnologías de energía flexible, que también serán más prominentes con su integración a la energía renovable intermitente”.

Picasso moderará un debate sobre energía renovable.

“El camino al 100% requiere un debate continuo con líderes visionarios y especialistas del sector para crear mayor conciencia y descubrir enfoques operativos y financieramente realistas para la descarbonización confiable”, agregó Picasso. “Un futuro de energía renovable requiere abordar desafíos económicos, tecnológicos y políticos que son diferentes en todo el mundo”.

El webinar de tres horas comenzará a las 9:00 a.m. EDT el 18 de marzo, el evento no tiene costo. Las inscripciones cierran a las 9:00 a.m. del 17 de marzo.

Wärtsilä Energy Business en resumen
Wärtsilä Energy Business lidera la transición hacia un futuro con energía 100% renovable. Ayudamos a nuestros clientes a descubrir el valor de la transición energética optimizando sus sistemas energéticos y protegiendo sus activos en el futuro. Nuestra oferta incluye plantas eléctricas flexibles, sistemas de gestión y almacenamiento de energía, así como servicios de ciclo de vida que garantizan una mayor eficiencia y rendimiento garantizado. Wärtsilä ofrece 72 GW de capacidad de planta eléctrica en 180 países de todo el mundo.
https://www.wartsila.com/energy/

Una foto asociada con este comunicado de prensa está disponible en,  https://www.globenewswire.com/NewsRoom/AttachmentNg/eea0d8f5-6589-4f59-bd02-0cba87dc428d

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Parkland reports 2020 results and provides 2021 outlook, including ninth consecutive annual dividend increase

CaribPR Wire, CALGARY, Alberta, March 04, 2021: Parkland Corporation (”Parkland”, “we”, the “Company”, or “our”) (TSX:PKI) announced today its financial and operating results for the fourth quarter and year ended December 31, 2020 and 2021 outlook. Highlights include:

  • Continued track record of steady dividend growth; our annual dividend will increase two cents per share, marking our ninth consecutive annual dividend increase and demonstrating conviction in our 2021 outlook and beyond.
  • Confidence in our resilience and flexibility supports 2021 Adjusted EBITDA (attributable to Parkland) guidance of $1,200 million +/- 5 percent.
  • Record safety performance through 2020; our front-line teams embraced extensive health and safety protocols to provide the essential fuels and services our customers depend on.
  • 2020 Adjusted distributable cash flow of $478 million fully funded growth capital expenditures, acquisitions and net dividend payments for the year and validated the strength of our diverse geographic and product platform.
  • 2020 Adjusted EBITDA attributable to Parkland (”Adjusted EBITDA”) of $967 million, demonstrating the strength and resilience of our business model through a challenging year. Decisive interventions in March 2020 resulted in significant cost reductions and reduced capital expenditures in response to an uncertain business environment. Adjusted EBITDA was down from 2019 due to the economic impacts of COVID-19 and our 2020 Burnaby refinery turnaround. This was partially offset by strong marketing results driven by unit margins and costs controls.
  • Q4 2020 Adjusted EBITDA of $247 million. Strong Canada and International marketing operations and refinery utilization of 90 percent was offset by lower refining margins in Supply and per unit fuel margins in the USA segment. This was lower than Q4 2019 primarily due to the economic impacts of COVID-19.
  • Q4 2020 Net earnings attributable to Parkland of $53 million, or $0.36 per share, basic, a decrease from Q4 2019 primarily resulting from lower Adjusted EBITDA referenced above and certain non-cash items related to interest rate and foreign exchange impacts.
  • Q4 2020 Fuel and petroleum product volume of 5.4 billion litres, a decrease of 7 percent relative to the prior year quarter due to the impacts of COVID-19. The impact of lower volumes on Adjusted EBITDA was mitigated by strong per unit fuel margins in Canada and International and robust Company C-Store same-store sales growth (”SSSG”) in Canada of around 8 percent, our 20th consecutive quarter of growth.
  • Q4 2020 Operating and Marketing, General and Administrative (”MG&A”) costs of $339 million, $68 million lower than Q4 2019, reflecting the variability in our cost structure and sustained benefit of proactive cost control measures.
  • We maintained significant liquidity of $1.3 billion and Total Funded Debt to Credit Facility EBITDA ratio of 2.9 times as of December 31, 2020, similar to the 2.8 times as of December 31, 2019. We proactively updated our syndicated credit facilities and refinanced near-term senior note maturities in June 2020, securing additional financial flexibility and positioning us to take advantage of potential future growth opportunities.

“I would like to thank our front-line teams for their exemplary work through the ongoing challenges posed by COVID-19, safely and reliably meeting our customers needs with the utmost professionalism,” said Bob Espey, President and Chief Executive Officer. “In 2020, we demonstrated financial prudence, safely provided the essential fuels and services our customers and communities rely on, enhanced our customer offerings and proved the resilience of our business through an extremely difficult external environment.”

“We are excited about the opportunities ahead of us,” added Espey. “We remain focused on our stated strategy and meeting our long-term growth ambitions. In 2021, we will strengthen our customer offerings and continue our organic growth initiatives, advance our disciplined acquisition strategy and deepen our commitment to providing customers with low carbon fuel choices as part of our broader sustainability efforts.”

Our Sustainability Journey

As we advance our Sustainability journey, we intend to provide regular updates on our environmental, social and governance efforts as part of our normal disclosure process. A snapshot of our recent successes includes:

  • Published our inaugural Sustainability Report in fall 2020, outlining our established environmental, social and governance practices and setting the stage for development of our enterprise-wide sustainability strategy.
  • Underpinned by work completed during the Refinery turnaround in 2020, we co-processed approximately 44 million litres of Canadian-sourced canola and tallow bio-feedstocks in 2020, marking an almost 140 percent increase from 2019.
  • In January 2021, our Burnaby refinery set a new monthly record by co-processing approximately 10 million litres of Canadian sourced canola and tallow bio-feedstocks, well on our way to our 2021 target of co-processing up to 100 million litres of bio-feedstocks. Through this initiative we can offer customers a variety of low carbon fuels, including an up to 15 percent renewable content diesel. The annual environmental benefit of producing our low carbon fuels in 2021 is expected to be the equivalent of taking over 80,000 passenger vehicles off the road.
  • Our ability to significantly reduce the carbon intensity of refined product from Burnaby is a result of highly capital efficient initiatives. We have accomplished the current levels of bio-feedstock throughput using existing refinery infrastructure and approximately $30 million of combined capital expenditures and operating costs since 2017.
  • Successfully produced low carbon aviation fuel (bio-jet) and are moving towards commercialization.
  • From March 1, 2021, JOURNIE™ Rewards Members can select a new ‘carbon offset’ reward option as part of their fuel purchase reward ‘unlocks’. Parkland will calculate the number of Carbon Offset Credits activated by Members and contribute to a Canadian carbon offset project on their behalf. Introducing the choice of a carbon credit offset as an ‘unlock’ in the JOURNIE™ app aligns with our broader effort to support our customers in reducing their own emissions.
  • Record full-year safety performance with total recordable injury frequency (”TRIF”) of 1.12.

2021 Outlook

While we remain vigilant regarding the ongoing impacts of COVID-19, our performance through 2020 demonstrated the strength and resilience of our business model. Our track record gives us confidence in our ability to manage and thrive through periods of uncertainty and volatility. As a result, we are providing 2021 guidance metrics that account for near-term COVID-19 uncertainty but assume an economic recovery in the second half of the year. Highlights of our 2021 outlook include:

  • Adjusted EBITDA (attributable to Parkland) of $1,200 million +/- 5 percent.
  • Growth capital expenditures (attributable to Parkland) of $175 – $275 million. We will continue to exercise strict financial discipline when evaluating our organic growth initiatives and depending on market conditions, have significant flexibility in the level and timing of investment. Our growth capital expenditures include new-to-industry retail sites, On-the-run conversions and site upgrades, supply infrastructure, enhancing our digital capabilities, commercial bulk fuel and propane expansion and low-carbon initiatives at the Burnaby refinery.
  • Maintenance capital expenditures (attributable to Parkland) of $225 – $275 million, which includes approximately $40 million of catch-up work deferred from 2020. Maintenance capital includes retail and commercial site and system upgrades, fleet maintenance, infrastructure improvements and work to maintain operational excellence at the Burnaby refinery.
  • Burnaby refinery utilization of approximately 85 percent, reflecting the ongoing impacts of COVID-19 in the near-term and minor downtime in the second half of the year for a required catalyst change at the diesel and naphtha hydrotreating units.
  • Maintain $50 – $70 million of annualized cost savings resulting from 2020 initiatives (combined Operating and marketing, general and administrative, or “MG&A”, costs).
  • Full capture of our $42 million annual synergy target from the Sol acquisition is anticipated by the end of 2021, on-track with our original guidance upon announcement of the transaction.

Advancing our Disciplined Acquisition Strategy

  • We continue to show momentum in our U.S. consolidation strategy. We announced five U.S. acquisitions and closed four during 2020. Late in the fourth quarter of 2020, we successfully completed the acquisition of: (i) all the assets of Sevier Valley Oil Company, Inc. and its related entities (collectively, “SVO”); and (ii) certain assets of Carter Oil Company, Inc. and its affiliates (collectively, “Carter”). The previously announced acquisition of assets of Story Distributing Company and its affiliates (collectively, “Story”) was completed in early February 2021. The five acquisitions added nearly 30 company retail sites and over 140 dealer retail sites to our Rockies and Northern Regional Operations Centers (”ROCs”) along with robust commercial, supply and distribution capabilities.
  • Subsequent to 2020, we signed an agreement to acquire Conrad & Bischoff Inc. and its related companies (collectively, “C&B”). This acquisition will establish our fourth U.S. ROC, strengthen our supply advantage and add a high-quality retail network to our portfolio. The acquisition includes 19 high-quality company owned retail sites with proprietary branded backcourts and 39 retail dealer sites. In addition, terminal operations with combined tank storage of 30 million litres and capacity for 88 rail cars adds significant supply optionality in PADD IV. The transaction is expected to close in early Q2 2021.
  • The SVO, Carter, Story and C&B acquisitions are expected to increase our run-rate USA segment Adjusted EBITDA by approximately 70 percent from 2020.
  • Subsequent to 2020, we acquired two Midwest LPG terminals to expand our integrated logistics business and enhance our overall LPG supply optionality. The transaction closed in January 2021.
  • Subsequent to 2020, we signed an agreement to acquire a residential and commercial LPG distributor in St. Maarten which further supports our LPG growth strategy in the International segment. The transaction is expected to close in late Q1 2021.

Q4 2020 Segment Highlights

  • In Canada, fuel margins, convenience store sales and lower costs drove Adjusted EBITDA of $112 million, up $24 million relative to Q4 2019. We delivered our 20th consecutive quarter of Company C-Store SSSG, surpassed 1.5 million JOURNIE™ Rewards members and captured retail market share.
  • In International, enhanced logistics, storage optimization and cost control initiatives helped offset the impact of reduced tourist activity and generated Adjusted EBITDA of $72 million, approximately flat relative to Q4 2019. COVID-19 lockdown measures impacted volumes, however, we continue to benefit from geographic and product diversification within the region and growth in our LPG business. Natural resource economies performed well, with Guyana commercial operations growing approximately 15 percent in 2020.
  • In USA, Adjusted EBITDA of $11 million was down $4 million relative to Q4 2019. The contribution from first half 2020 acquisitions was more than offset by COVID-19 impacts, with the Northern ROC seeing heavily restricted mobility in addition to reduced oil and gas activity. Furthermore, incremental repair and maintenance costs and lower marine fuel and lubricant margins contributed to the decline.
  • In Supply, Adjusted EBITDA of $78 million was down $75 million relative to Q4 2019, primarily driven by lower crack spreads. Q4 2020 benefited from a 90 percent refinery utilization rate, low operating costs and solid performance from our integrated logistics business. This was offset by approximately $35 million relating to prior period adjustments, realized risk management losses on intermediation and a third-party power outage at the Burnaby refinery.
  • Corporate Adjusted EBITDA expense of $26 million.

Consolidated Financial Overview

($ millions, unless otherwise noted) Three months ended December 31, Year ended December 31,
Financial Summary 2020(4) 2019(4) 2018(4) 2020(4) 2019(4) 2018(4)
Sales and operating revenue 3,474 4,779 3,506 14,011 18,453 14,442
Fuel and petroleum product volume (million litres) 5,416 5,850 4,354 21,424 22,282 16,978
Adjusted gross profit(1) 606 728 587 2,360 2,832 1,995
Adjusted EBITDA including non-controlling interest (”NCI”) 271 327 285 1,057 1,358 887
Adjusted EBITDA attributable to Parkland (”Adjusted EBITDA”)(1) 247 302 285 967 1,265 887
Canada(2) 112 88 105 435 380 409
International 72 73 270 281
USA 11 15 11 74 56 28
Supply 78 153 199 280 660 561
Corporate (26 ) (27 ) (30 ) (92 ) (112 ) (111 )
Net earnings (loss) 64 186 77 112 414 206
Net earnings (loss) attributable to Parkland 53 176 77 82 382 206
Net earnings (loss) per share – basic ($ per share) 0.36 1.19 0.58 0.55 2.60 1.56
Net earnings (loss) per share – diluted ($ per share) 0.35 1.17 0.57 0.54 2.55 1.53
Dividends 47 44 41 184 177 159
Per share 0.3036 0.2985 0.2934 1.2110 1.1906 1.1704
Weighted average number of common shares (million shares) 149 148 133 149 147 132
TTM distributable cash flow(1)(5) 481 564 416 481 564 416
Per share(1)(3)(5) 3.23 3.84 3.15 3.23 3.84 3.15
TTM adjusted distributable cash flow(1)(5) 478 561 568 478 561 568
Per share(1)(3)(5) 3.21 3.82 4.30 3.21 3.82 4.30
TTM dividends(5) 184 177 159 184 177 159
TTM dividend payout ratio(1)(5) 38 % 31 % 38 % 38 % 31 % 38 %
TTM adjusted dividend payout ratio(1)(5) 38 % 32 % 28 % 38 % 32 % 28 %
TTM weighted average number of common shares (million shares)(5) 149 147 132 149 147 132
Total assets 9,094 9,283 5,661 9,094 9,283 5,661
Total Funded Debt to Credit Facility EBITDA ratio(1)(6) 2.91 2.79 2.47 2.91 2.79 2.47
Non-current financial liabilities 4,377 4,328 2,288 4,377 4,328 2,288
Interest coverage ratio(1) 5.33 5.32 6.52 5.33 5.32 6.52
Growth capital expenditures attributable to Parkland(1) 45 69 57 110 221 109
Maintenance capital expenditures attributable to Parkland(1) 39 91 52 225 232 187

(1) Measure of segment profit and Non-GAAP financial measures. See Section 14 of the MD&A.
(2) For comparative purposes, information for the year ended December 31, 2019 was restated due to a change in segment presentation. Canada Retail and Canada Commercial, formerly presented separately as individual segments, and the Canadian distribution business, formerly presented in Supply, are now included in Canada, reflecting a change in organizational structure in 2020.
(3) Calculated using the weighted average number of common shares.
(4) 2020 and 2019 results reflect the adoption of IFRS 16 as of January 1, 2019. 2018 comparative figures reflect the accounting standards in effect for that year and are not restated to reflect the impact of IFRS 16, as is allowed under the modified retrospective approach for IFRS 16 adoption.
(5) Amounts presented on a trailing-twelve-month (”TTM”) basis.
(6) Beginning in Q1 2020, Credit Facility EBITDA includes Adjusted EBITDA attributable to NCI and excludes IFRS 16 impact attributable to NCI, and Total Funded Debt includes long term-debt attributable to NCI, letters of credit attributable to NCI and cash and cash equivalents attributable to NCI. The amounts presented for 2019 and 2018 have not been restated.

Ninth Consecutive Annual Dividend Increase

Parkland’s annualized common share dividend will increase $0.0204 per share, our ninth consecutive annual increase, from $1.2144 to $1.2348, effective with the monthly dividend payable on April 15, 2021 to shareholders of record at the close of business on March 22, 2021.

Conference Call and Webcast Details

Parkland will host a webcast and conference call on Friday, March 5, at 6:30am MST (8:30am EST) to discuss the results.

To listen to the live webcast and watch the presentation, please use the following link:

https://produceredition.webcasts.com/starthere.jsp?ei=1432661&tp_key=f1590068d5

Analysts and institutional investors interested in participating in the question and answer session of the conference call may do so by calling 1-888-390-0546 (toll-free) (Conference ID: 87395118). International participants can call 1-587-880-2171 (toll) (Conference ID: 87395118).

Please connect and log in approximately 10 minutes before the beginning of the call.

The webcast will be available for replay two hours after the conference call ends at the link above. It will remain available for one year and will also be posted to www.parkland.ca.

MD&A and Consolidated Financial Statements

The Q4 2020 MD&A and Q4 2020 Financial Statements provide a detailed explanation of Parkland’s operating results for the year ended December 31, 2020. An English version of these documents will be available online at www.parkland.ca and SEDAR after the results are released by newswire under Parkland’s profile at www.sedar.com. The Q4 2020 French MD&A and Q4 2020 French Financial Statements will be posted to www.parkland.ca and SEDAR as soon as they become available.

Forward-Looking Statements

Certain statements contained in this news release constitute forward-looking information and statements (collectively, “forward-looking statements”). When used in this news release the words “expect”, “will”, “could”, “would”, “believe”, “continue”, “pursue” and similar expressions are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things, business objectives and strategies, estimated 2021 capital expenditures, expected timing of closing and benefits to be derived from announced acquisitions, potential future acquisition opportunities, expected increase to USA segment’s run-rate Adjusted EBITDA from the SVO, Carter, Story and C&B acquisitions, potential projects to extend Parkland’s supply advantage, the ongoing roll out of the JOURNIE™ Rewards loyalty program, expected Burnaby refinery utilization rates, and Parkland’s ability to advance its growth agenda.

These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These forward-looking statements speak only as of the date of this news release. Parkland does not undertake any obligations to publicly update or revise any forward-looking statements except as required by securities law. Actual results could differ materially from those anticipated in these forward-looking statements as a result of numerous risks and uncertainties including, but not limited to, general economic, market and business conditions, including the duration and impact of the COVID-19 pandemic; Parkland’s ability to execute its business strategies; industry capacity; competitive action by other companies; refining and marketing margins; the ability of suppliers to meet commitments; actions by governmental authorities and other regulators including but not limited to increases in taxes or restricted access to markets; changes and developments in environmental and other regulations; and other factors, many of which are beyond the control of Parkland. See also the risks and uncertainties described in “Forward-Looking Information” and “Risk Factors” included in Parkland’s Annual Information Form dated March 30, 2020, and “Forward-Looking Information” and “Risk Factors” included in the Q4 2020 MD&A dated March 4, 2021, each filed on SEDAR and available on the Parkland website at www.parkland.ca. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

Non-GAAP Financial Measures

This news release refers to certain non-GAAP financial measures that are not determined in accordance with International Financial Reporting Standards (”IFRS”). Distributable cash flow, distributable cash flow per share, adjusted distributable cash flow, adjusted distributable cash flow per share, total funded debt to credit facility EBITDA ratio, dividend payout ratio, adjusted dividend payout ratio and growth and maintenance capital expenditures attributable to Parkland are not measures recognized under IFRS and do not have standardized meanings prescribed by IFRS. Management considers these to be important supplemental measures of Parkland’s performance and believes these measures are frequently used by securities analysts, investors and other interested parties in the evaluation of companies in our industry. See Section 14 of the Q4 2020 MD&A for a discussion of non-GAAP measures and their reconciliations to the nearest applicable IFRS measure.

Adjusted EBITDA and adjusted gross profit are measures of segment profit. See Section 16 of the Q4 2020 MD&A and Note 24 of the Q4 2020 FS for a reconciliation of these measures of segment profit. Investors are encouraged to evaluate each measure and the reasons Parkland considers it appropriate for supplemental analysis.

In addition to non-GAAP financial measures, Parkland uses a number of operational KPIs, such as SSSG and refinery utilization, to measure the success of our strategic objectives and to set variable compensation targets for employees. These KPIs are not accounting measures, do not have comparable IFRS measures, and may not be comparable to similar measures presented by other issuers, as other issuers may calculate these metrics differently. See Section 14 of the Q4 2020 MD&A for further details.

Expected increase in run-rate USA segment Adjusted EBITDA including SVO, Carter, Story and C&B reflects the reported 2020 Adjusted EBITDA in the USA segment plus the annual run rate Adjusted EBITDA contribution expected from the acquired assets based on trailing-twelve-month performance at the time of acquisition. Due to closing date impacts of the acquisitions, this does not represent guidance for USA segment 2021 Adjusted EBITDA. Further, expected annual run rate Adjusted EBITDA contribution is calculated based on historical performance of the acquired businesses; future performance of such business may differ from historical results.

Investors are cautioned that these measures should not be construed as an alternative to net earnings determined in accordance with IFRS as an indication of Parkland’s performance.

Effective January 1, 2019, Parkland adopted the new accounting standard, IFRS 16 – Leases (”IFRS 16″). The adoption of IFRS 16 has a significant effect on Parkland’s reported results. Due to Parkland’s selected transition method, it has not restated its prior year comparatives. Certain financial statement measures are presented excluding the impact of IFRS 16 (”Pre-IFRS 16 measures”).

About Parkland Corporation

Parkland is an independent supplier and marketer of fuel and petroleum products and a leading convenience store operator. Parkland services customers across Canada, the United States, the Caribbean region and the Americas through three channels: Retail, Commercial and Wholesale. Parkland optimizes its fuel supply across these three channels by operating and leveraging a growing portfolio of supply relationships and storage infrastructure. Parkland provides trusted and locally relevant fuel brands and convenience store offerings in the communities it serves.

Parkland creates value for shareholders by focusing on its proven strategy of growing organically, realizing a supply advantage and acquiring prudently and integrating successfully. At the core of our strategy are our people, as well as our values of safety, integrity, community and respect, which are embraced across our organization.

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e-JAM is Your One-Stop Site for All of Your Employment Needs

OCHO RIOS, Jamaica, March 4, 2021 /PRNewswire/ – ejamhire.com provides world-wide employers from every type of industry a recruitment medium to find talent throughout Jamaica for full time, part time, and freelance employment in skilled and unskilled labor.

In today’s fast paced, globalized world, ejamhire.com provides a short-cut to efficient business management by simplifying the search for new talent. e-JAM’s employer portal delivers the ability to post job ads, view candidate profiles, and manage applicants who are applying to service business needs.

Employers can browse through talent profiles that contain reviews written by previous employers that illustrate how other businesses assessed and evaluated the individual. Moreover, candidates have the ability to rate their skill sets through a 5-star rating system allowing employers to gauge their level of competency.

When time is of the essence, e-JAM’s full-service recruitment plan offers employers the ability to minimalize stress, time, and unnecessary costs.  e-JAM recruiters utilize their expertise to find potential candidates through a rigorous verification process. This ensures that the candidate is work-ready by guaranteeing the following:

  • A profile highlighting talent and skill-set complete with a professional photo.
  • An up-to-date resume
  • Copies of valid certificates or degrees
  • Valid photo identification
  • The reference provided by the job seeker has been contacted
  • Assurance that they are ready to work immediately

These vital features provide peace of mind that the talent is a trustworthy and dependable asset to a growing company.

ejamhire.com takes care of the frustrating and time-consuming work of hiring new talent, so managers can get back to business!

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Windward Selected by CARICOM IMPACS to Enhance Maritime Security in the Caribbean

CARICOM IMPACS will use Windward’s Predictive Intelligence platform to identify illicit maritime trade in the region

LONDON, March 3, 2021 /PRNewswire/ – Windward, the Predictive Intelligence company applying AI to transform global maritime trade, announced today that it has partnered with The Caribbean Community Implementation Agency for Crime and Security (CARICOM IMPACS), an organization of fifteen Member States and five Associate Members in the Caribbean as well as CARICOM’s Regional Security System (RSS), a treaty organization comprising of Barbados and other countries in the Eastern Caribbean. Windward’s AI-powered maritime intelligence platform will empower CARICOM IMPACS and RSS to support CARICOM Member States in their fight against drug trafficking and illegal activities in the Caribbean’s exclusive economic zones.

As the entryway to the Gulf of Mexico, the Caribbean Sea is a main stop-over in the trade route from South to North America and illicit activities such as drug trafficking and other types of smuggling are becoming increasingly commonplace, especially in light of recent sanctions placed on Venezuela. Despite a decrease in general maritime activity in the region during the COVID-19 pandemic, there has been an increase in illicit maritime activities in the Caribbean in recent months. Windward’s platform will support CARICOM Countries, through CARICOM IMPACS and RSS, in their fight against illicit activities by providing a real-time view of the maritime ecosystem and offering AI-powered risk assessments of vessels, companies, shipowners, and all other stakeholders in the maritime domain.

“Windward’s solution is key in our fight against illegal activities,” said Lieutenant Colonel Michael Jones, Executive Director (Ag) of CARICOM. “As illegal shipping methods are becoming more advanced, we turned to Windward’s industry-leading Maritime AI solution to assist in detecting these activities and flagging vessels that are suspicious, enabling us to assist CARICOM Member States to crack down on illicit trade, minimize and/or prevent illegal fishing, and surveil the maritime domain, beyond AIS monitoring.”

Windward’s Maritime AI is powered by hundreds of behavioral analytics models and over 10 billion data points, giving authorities the power to make smarter decisions, faster. Relying on thousands of case studies and a vast array of parameters including vessel routes, Dark Activities, and unusual changes in course, Windward’s platform analyzes existing behaviors to predict in real-time which entities are likely to be involved in illicit activities. Windward’s solution is the new global standard in maritime control, enabling government bodies to protect their borders, national interests, and citizens. The partnership with CARICOM IMPACS and RSS comes on the heels of Windward’s announcements of a partnership with the EU’s Maritime Analysis and Operations Centre-Narcotics (MAOC-(N)) in October 2020 and the European Border and Coast Guard Agency, Frontex in January 2021.

“We are thrilled that CARICOM has chosen Windward to help protect its territorial waters throughout the Caribbean,” said Ami Daniel, CEO and Co-Founder of Windward. “The Caribbean Sea is a major point in the trade route of illegal substances leaving South America and of sanctioned oil leaving Venezuela. Using Windward’s Maritime AI technology and real-time insights, CARICOM is strengthening its defenses against these activities and enhancing the transparency needed into the global maritime domain to protect its borders.”

About Windward

Windward is the leading Predictive Intelligence company fusing AI and big data to digitalize the global maritime industry, enabling organizations to achieve business and operational readiness. Windward’s AI-powered solution allows stakeholders including banks, commodity traders, insurers, and major energy and shipping companies to make real time, predictive intelligence-driven decisions, providing a 360° view of the maritime ecosystem and its broader impact on safety, security, finance, and business. For more information visit: https://wnwd.com/.

About CARICOM

The Caribbean Community (CARICOM) Implementation Agency for Crime and Security (IMPACS) was established by the Twenty Seventh Meeting of the Conference of Heads of Government in July 2006, in Bird Rock, St Kitts and Nevis, as the implementation arm of a new Regional Architecture to manage CARICOM’s action agenda on crime and security.

At this Meeting, the Heads of Government signed an Inter-Governmental Agreement establishing the Agency as a legal entity, with direct responsibility for research, monitoring and evaluation, analysis and preparation of background documents and reports, as well as project development and implementation of the regional Crime and Security agenda.

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