Posts Tagged ‘#Businessnews’

Vantage unveils Supercar Blondie as Brand Ambassador

Supercar Blondie partners with Vantage Markets for financial education

GRAND CAYMAN, Cayman Islands, Jan. 18, 2023 /PRNewswire-HISPANIC PR WIRE/ — Multi-asset broker, Vantage International Group Limited (”Vantage” or “Vantage Markets”) is pleased to unveil Alexandra Mary Hirschi, of Supercar Blondie, as its Brand Ambassador.

Alexandra Mary Hirschi from Supercar Blondie, and Nadine Azzam, Head of MENA for Vantage, at the signing ceremony and press conference held on 18 January in Dubai.

This partnership marks a milestone between an online brokerage with a social media publisher, aimed to use their respective expertise to provide accessible and relevant financial education both on Vantage’s platforms and on Supercar Blondie’s online education channel, Xplained.

Marc Despallieres, Chief Strategy and Trading Officer at Vantage, says, “We are truly excited to work with Supercar Blondie once again, in a greater capacity as our brand ambassador. Her adventurous attitude, tech-savvy, and global appeal makes her a perfect fit for us to raise Vantage’s brand awareness among younger and more discerning audiences. I know her unique presentation style will help demystify trading, and make it approachable and relevant for all.”

The social media publisher draws over 1 billion views per month across the group, with over 85 million followers globally. As a leading voice and influence in a traditionally masculine industry, Supercar Blondie engenders Vantage’s beliefs in female empowerment, alongside a shared commitment of Vantage towards innovation, and climate action, which is aligned with Vantage’s partnership with NEOM McLaren Extreme E.

Alexandra Mary Hirschi says, “I am all for bringing exciting and transformative content to our audience. One of our key goals in 2023 is to empower our audience by providing accessible financial education materials. With that, I’m thrilled to partner with a market leader like Vantage to raise the bar on financial education and strengthen financial literacy for all. Vantage is a company with a big heart, and It’s exciting to see the impact we can make together.”

This announcement marks a strengthening of the partnership between the two organisations that was first established in 2022 when Supercar Blondie participated in the Blue Carbon initiative in Sardinia, Italy, to formally launch Vantage’s corporate ESG journey, and bring awareness to climate change.

About Vantage

Vantage (Vantage International Group Limited) is a multi-asset broker offering clients access to a nimble and powerful service for trading CFD on Forex, Commodities, Indices, Shares, ETFs and Bonds.

With more than 13 years of market experience, Vantage entities now have over 1,000 employees across more than 30 global offices.

Vantage is more than a broker. It provides a trusted trading ecosystem, an award-winning mobile trading app, and a user- friendly trading platform that enables clients to take advantage of trading opportunities. Download the Vantage App on App Store or Google Play.

trade smarter @vantage.

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Royal Caribbean Group Forms a Strategic Partnership with iCON Infrastructure to Launch New Chapter of Destination Development

MIAMI, Dec. 19, 2022 /PRNewswire-HISPANIC PR WIRE/ — Royal Caribbean Group (NYSE: RCL) announced today that it has entered into a new partnership with iCON Infrastructure Partners VI, L.P. (”iCON VI”)1, a fund advised by iCON Infrastructure LLP (”iCON Infrastructure” or “iCON”) to develop strategic cruise port infrastructure in support of Royal Caribbean Group’s robust growth plans.

Access to destinations continues to be of strategic importance to Royal Caribbean Group’s core business. The proposed partnership will own, develop, and manage cruise terminal facilities and infrastructure in home ports and key ports of call. The partnership, which will be owned 90% by iCON VI and 10% by Royal Caribbean Group, will be managed by an independent management team with strategic support from Royal Caribbean Group. Both parties have committed to provide funding for future expansion in accordance with their percentage interest.

“Our partnership with iCON is a unique opportunity to catapult us into the coming decades of port investments, build further financial strength, and provide exceptional cruising experiences, responsibly, to our guests at the best destinations in the world,” said Jason Liberty, president and CEO, Royal Caribbean Group. “Over the last few years, we have developed more destinations than any other cruise company and this new partnership will allow us to implement a capital-light investment framework to accelerate the development of strategic destinations around the world. We selected iCON because of our shared strategic priorities – delivering the best experiences in the world, responsibly – and our shared commitment to sustainability, being a committed partner in each of the destinations we visit and exploring the very best locations around the world.”

iCON is a leading independent investment group with a focus on investing in high-quality infrastructure assets located predominantly in North America and Europe, with extensive experience investing in ports and port-related infrastructure.

The new partnership will initially include PortMiami Terminal A, and several development projects in Italy, Spain, and the U.S. Virgin Islands. The partnership will also pursue additional port infrastructure developments based on the robust pipeline of projects as part of Royal Caribbean Group’s destination development strategy. At closing (anticipated for the first quarter of 2023), Royal Caribbean Group expects to receive net cash proceeds of approximately $210 million. The partnership is expected to be accretive to earnings, ROIC, and leverage metrics and will allow Royal Caribbean Group to continue investing in the development of strategic infrastructure while supporting the goals of its Trifecta program.

“We are thrilled to be partnering with Royal Caribbean Group to develop, own and manage a portfolio of cruise terminals in key strategic markets,” said Iain Macleod, Managing Partner at iCON. “Through this partnership, we will provide world class cruise terminal infrastructure, offering cruise guests more opportunities to see and experience the world in partnership with the Royal Caribbean Group, a world class operator. In the years to come, we look forward to delivering new high-quality terminals, working closely with key destination communities and with a strong focus on sustainability.”

BofA Securities is serving as exclusive financial advisor to Royal Caribbean Group.

About Royal Caribbean Group:

Royal Caribbean Group (NYSE: RCL) is one of the leading cruise companies in the world with a global fleet of 64 ships traveling to approximately 1,000 destinations around the world. Royal Caribbean Group is the owner and operator of three award-winning cruise brands: Royal Caribbean International, Celebrity Cruises, and Silversea Cruises, and it is also a 50% owner of a joint venture that operates TUI Cruises and Hapag-Lloyd Cruises. Together, the brands have an additional 10 ships on order as of September 30, 2022. Learn more at www.royalcaribbeangroup.com or www.rclinvestor.com.

About iCON:

iCON is the exclusive advisor to funds with cumulative commitments in excess of $8bn. iCON VI, iCON’s latest flagship fund, closed fundraising in June 2022 with $3.6bn of capital committed from over 50  investors. Investors in iCON’s funds comprise globally recognized corporate and public pension funds, asset managers, insurance companies and sovereign wealth funds.

iCON is a long-term investor with an extensive track record of partnering alongside strategic counterparties that share a similar focus on growth, operational excellence and sustainability. iCON advised funds invest across a range of infrastructure sectors including ports, transport, telecommunications, healthcare, water, energy generation, distribution and storage. Learn more at www.iconinfrastructure.com.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements in this press release relating to, among other things, our future performance estimates, forecasts and projections constitute forward-looking statements under the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited, to: statements regarding the impact of the Partnership on our financial performance, projections and balance sheet. Words such as “anticipate,” “believe,” “could,” “driving,” “estimate,” “expect,” “goal,” “intend,” “may,” “plan,” “project,” “seek,” “should,” “will,” “would,” “considering,” and similar expressions are intended to help identify forward-looking statements. Forward-looking statements reflect management’s current expectations, are based on judgments, are inherently uncertain and are subject to risks, uncertainties and other factors, which could cause our actual results, performance or achievements to differ materially from the future results, performance or achievements expressed or implied in those forward-looking statements. Examples of these risks, uncertainties and other factors include, but are not limited to, the following: the impact of the global incidence and continued spread of COVID-19, which has had and may continue to have a material adverse impact on our business, liquidity and results of operations, or other contagious illnesses on economic conditions and the travel industry in general and the financial position and operating results of our Company in particular, such as: governmental and self-imposed travel restrictions and guest cancellations; our ability to obtain sufficient financing, capital or revenues to satisfy liquidity needs, capital expenditures, debt repayments and other financing needs; the effectiveness of the actions we have taken to improve and address our liquidity needs; the impact of the economic and geopolitical environment on key aspects of our business including the conflict between Ukraine and Russia, such as the demand for cruises, passenger spending, and operating costs; incidents or adverse publicity concerning our ships, port facilities, land destinations and/or passengers or the cruise vacation industry in general; concerns over safety, health and security of guests and crew; our COVID-19 protocols and any other health protocols we may develop in response to infectious diseases may be costly and less effective than we expect in reducing the risk of infection and spread of such disease on our cruise ships; further impairments of our goodwill, long-lived assets, equity investments and notes receivable; an inability to source our crew or our provisions and supplies from certain places; an increase in concern about the risk of illness on our ships or when travelling to or from our ships, all of which reduces demand; unavailability of ports of call; growing anti-tourism sentiments and environmental concerns; changes in U.S. foreign travel policy; the uncertainties of conducting business internationally and expanding into new markets and new ventures; our ability to recruit, develop and retain high quality personnel; changes in operating and financing costs; our indebtedness, any additional indebtedness we may incur and restrictions in the agreements governing our indebtedness that limit our flexibility in operating our business; the impact of foreign currency exchange rates, the impact of higher interest rate and fuel prices; the settlement of conversions of our convertible notes, if any, in shares of our common stock or a combination of cash and shares of our common stock, which may result in substantial dilution for our existing shareholders; our expectation that we will not declare or pay dividends on our common stock for the near future; vacation industry competition and changes in industry capacity and overcapacity; the risks and costs related to cyber security attacks, data breaches, protecting our systems and maintaining integrity and security of our business information, as well as personal data of our guests, employees and others; the impact of new or changing legislation and regulations (including environmental regulations) or governmental orders on our business; pending or threatened litigation, investigations and enforcement actions; the effects of weather, natural disasters and seasonality on our business; the impact of issues at shipyards, including ship delivery delays, ship cancellations or ship construction cost increases; shipyard unavailability; the unavailability or cost of air service; and uncertainties of a foreign legal system as we are not incorporated in the United States.

More information about factors that could affect our operating results is included under the caption “Risk Factors” in our most recent current report on Form 10-Q, as well as our other filings with the SEC, copies of which may be obtained by visiting our Investor Relations website at www.rclinvestor.com or the SEC’s website at www.sec.gov. Undue reliance should not be placed on the forward-looking statements in this release, which are based on information available to us on the date hereof. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Selected Definitions

Trifecta refers to the multi-year Adjusted EBITDA per APCD, Adjusted EPS and ROIC goals we publicly announced in November 2022 and are seeking to achieve by the end of 2025. We designed this program to help us better execute and achieve our business goals by clearly articulating longer-term financial objectives. Under the Trifecta Program, we are targeting Adjusted EBITDA per APCD of at least $100, Adjusted EPS of at least $10, and ROIC of 13% or higher by the end of 2025.

Adjusted EBITDA is a non-GAAP measure that represents EBITDA (as defined below) excluding certain items that we believe adjusting for is meaningful when assessing our profitability on a comparative basis. Refer to Management’s Discussion and Analysis of Financial Condition and Results of Operations within Item 2 of our Quarterly Report on Form 10-Q for the quarter ended September 30, 2022 for a discussion of items adjusted to arrive at Adjusted EBITDA.

Adjusted Earnings (Loss) per Share (”Adjusted EPS”) is a non-GAAP measure that represents Adjusted Net Income (Loss) (as defined below) divided by weighted average shares outstanding or by diluted weighted average shares outstanding, as applicable. We believe that this non-GAAP measure is meaningful when assessing our performance on a comparative basis.

Adjusted Net Income (Loss) is a non-GAAP measure that represents net income (loss) excluding certain items that we believe adjusting for is meaningful when assessing our performance on a comparative basis. Refer to Management’s Discussion and Analysis of Financial Condition and Results of Operations within Item 2 of our Quarterly Report on Form 10-Q for the quarter ended September 30, 2022, and within Item 7 of our Annual Report on Form 10-K for the year ended December 31, 2021 for a discussion of items adjusted to arrive at Adjusted Net Income (Loss).

Adjusted Operating Income (Loss) is a non-GAAP measure that represents operating income (loss) including income (loss) from equity investments and income taxes but excluding certain items that we believe adjusting for is meaningful when assessing our operating performance on a comparative basis. Refer to Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations of our Quarterly Report on Form 10-Q for the quarter ended September 30, 2022 for a discussion of items adjusted to arrive at Adjusted Operating Income (Loss). We use this non-GAAP measure to calculate ROIC (as defined below).

Available Passenger Cruise Days (”APCD”) is our measurement of capacity and represents double occupancy per cabin multiplied by the number of cruise days for the period, which excludes canceled cruise days and cabins not available for sale. We use this measure to perform capacity and rate analysis to identify our main non-capacity drivers that cause our cruise revenue and expenses to vary.

EBITDA is a non-GAAP measure that represents net income (loss) excluding (i) interest income; (ii) interest expense, net of interest capitalized; (iii) depreciation and amortization expenses; and (iv) income tax benefit or expense. We believe that this non-GAAP measure is meaningful when assessing our operating performance on a comparative basis.

Invested Capital represents the most recent five-quarter average of total debt (i.e., Current portion of long-term debt plus Long-term debt) plus Total shareholders’ equity. We use this measure to calculate ROIC (as defined below).

Return on Invested Capital (”ROIC”) represents Adjusted Operating Income (Loss) divided by Invested Capital. We believe ROIC is a meaningful measure because it quantifies how efficiently we generated operating income relative to the capital we have invested in the business. ROIC is also used as a key metric in our long-term incentive compensation program for our executive officers.

1 iCON Infrastructure Partners VI (”iCON VI”) comprises two parallel limited partnerships, iCON Infrastructure Partners VI, L.P. and iCON Infrastructure Partners VI-B, L.P. iCON Infrastructure Management VI Limited, the managing general partner of each of iCON Infrastructure Partners VI, L.P. and iCON Infrastructure Partners VI-B, L.P., is licensed by the Guernsey Financial Services Commission. iCON Infrastructure LLP (”iCON”), the investment advisor to the managing general partner, is regulated by the Financial Conduct Authority.

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St Kitts and Nevis Prime Minister takes lessons from Dubai to position twin-island federation as a business hub

CARIBPR WIRE, Basseterre, St. Kitts, Dec. 12, 2022: Prime Minister Terrance Drew of the island nation of St Kitts and Nevis was in Dubai recently for a state visit that not only aims to strengthen bilateral relations but also glean lessons from the United Arab Emirates that will pivot the island into a sought-after business and leisure hub in the Caribbean.

The new prime minister and his delegation had several meetings and engagements over the four-day trip which took place from 29 November to 3 December 2022.

The two regions have enjoyed years of fruitful relations that have resulted in several areas of cooperation in which both countries have achieved together. This includes the signing of a historic Air Services Agreement. The seminal move paved the way for air traffic between the Federation of St Kitts and Nevis and the UAE.

The UAE also expressed previous interest in assisting the twin island Federation in adapting stronger climate change resilient measures, particularly as it relates to infrastructure. As climate related weather patterns become more fierce, St Kitts and Nevis is looking to tap into Dubai’s knowledge and expertise in constructing durable and resilient structures.

Just as recently as the 1960s, Dubai’s economy was merely dependent on the revenues generated from trade and oil exploration concessions. A major chunk of revenue obtained from oil reserves started to flow in 1969 and the rapid development of Dubai began – including major infrastructure like schools and hos­pitals and, over the years, it trans­formed Dubai into the business hub we know today.

St Kitts and Nevis developed and instituted its citizenship by investment programme in 1984 as a way to increase and diversify revenue generation. For nearly 40 years the programme has been instrumental in catapulting the nation from just a small island in the Caribbean to a globally recognized investment destination.

Without this foreign direct investment into the nation, St Kitts and Nevis would have certainly progressed at a much slower pace than desired.

The government of St Kitts and Nevis has made considerable progress in reducing its public debt and is among other countries in the Caribbean that supplement their economic activity through CBI programmes which provide astute investors with the option to obtain citizenship by investing in the country. The new government administration of St Kitts and Nevis believes that residents of the United Arab Emirates (UAE) have a lot to benefit from its CBI programme.

The country is looking to build its reputation on the international stage and the CBI programme is one way to direct foreign direct investment to innovative projects across the spheres of education, health, agriculture and tourism.

For example, the travel and tourism sector accounted for one tenth of the gross domestic product (GPD) in St Kitts and Nevis in 2021, dropping for the second consecutive year. Part of the funds channeled the citizenship by investment programme will be used to revitalize the sector and re-establish St Kitts and Nevis as must-visit destination.

Attracting the right kind of developers who will inject cash into developing attractive real estate projects that will charm discerning investors, is one way to grow the tourism sector. Not only that but the upgrading and development of important infrastructure such as schools, hospitals, airports and hotel chains is another way the funds will be used to not only bring up tourist numbers but investors too.

The visit was also aimed at deepening relationships with important stakeholders including international investors and government approved agents, who play a vital role in promoting and supporting the country’s recently upgraded citizenship by investment programme.

St Kitts and Nevis is the first country of the Caribbean Community to establish a formal diplomatic presence in the UAE, recently opening an embassy and consulate in the region.

The members of the delegation which included, Cabinet Secretary, Dr Natta, Attorney General, Mr. Wilkin, Minister of Tourism, Ms. Henderson, Mr. Anthony and Ms. Galloway, were positive following the visit and believe that there were many lessons learned from visit that they could take back home and implement.

The visit also signifies to the world St Kitts and Nevis is open for business. During the visit, business partners, investors and citizens were able to meet the Prime Minister and the accompanying delegation members at an exclusive cocktail event that was hosted by the High Commission of St Kitts and Nevis during the trip.

The visit provided an opportunity for St Kitts and Nevis to attract investors who seek mutually beneficial partnerships with the nation.

Saint Kitts and Nevis administers one of the most successful citizenship by investment programmes in the world. This government delegation was aimed at showing investors, entrepreneurs and families from the UAE that they are all welcome in Saint Kitts and Nevis.

The Prime Minister’s visit has come at a time when the economies of many countries are affected by the lingering impact of the COVID-19 pandemic and by the consequences of the Ukraine-Russia conflict.

Prime Minister Drew is on a drive to find and implement solutions that will prosper St Kitts and Nevis and one of those actions included upgrading the country’s CBI programme – the government is taking measures to sustain and enhance the image of the twin-island federation’s CBI programme, so it is more transparent and follows the principles of integrity and good governance.

The St Kitts and Nevis government also recently launched its “Venture Deeper” campaign. This is a branding campaign aimed at highlighting the country’s famous and marked natural environment while introducing elements of introspective self-discovery and intention.

The campaign’s visual assets, showcased at a May 20 media premiere in New York, highlighted St Kitts and Nevis’ lush natural environment, including the territory’s rainforest, abundant historic landmarks and immersive cultural experiences.

St Kitts and Nevis’ revamped citizenship by investment programme is aimed at intelligent investors looking not only to prosper themselves, but those who are sustainability minded in their investment decisions.

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Head of Saint Lucia Citizenship by Investment Unit, Mc Claude Emmanuel, woos investors at Private Wealth Forum in Florida

CARIBPR Wire, Castries, Saint Lucia, Dec. 08, 2022: The head of Saint Lucia’s Citizenship by Investment Unit, Mc Claude Emmanuel, was in the United States of America recently for the 7th Annual Private Wealth Florida Forum.

The invitation-only event is attended by private wealth and institutional investors, including wealth managers, corporate pensions, public pensions, insurance funds, endowments, foundations, sovereign wealth funds, health care organizations and private bankers. The event aims to bring together the investment management community for peer driven thought leadership experiences that provide a platform for education, business development and networking.

Emmanuel was speaking to wealth managers on why Saint Lucia should form part of their basket of offshore investment options.

As one of the youngest citizenship by investment offerings on the market, Saint Lucia certainly competes with the best in terms of what it has to offer investors.

There are currently four main ways investors can gain a coveted Saint Lucia citizenship, with the main one being through the National Economic Fund. This Fund was established to drive foreign direct investment to nation building projects such as increasing and improving infrastructure in country. Through this Fund, highways, bridges, schools and hospitals have been upgraded and built.

For a minimum investment of US$100 000.00 for a single applicant, US investors can become part of the Caribbeans biggest success stories.

“Saint Lucia has a strong economy and our currency, the Eastern Caribbean Dollar, is pegged against the United States Dollar – at a rate of US$1.00 being the equivalent of EC$2.70 – and has been so for the last 70 years,” stated Emmanuel.

According to Moody’s Analytics, the island nation has been able to attract foreign business and investment, especially in its offshore banking and tourism industries. Tourism is Saint Lucia’s main source of jobs and income – accounting for 65 percent of GDP – and the island’s main source of foreign exchange earnings. The manufacturing sector is the most diverse in the Eastern Caribbean area.

In this context, the Eastern Caribbean nation of Saint Lucia has emerged as a new favourite for investors. This is due to its growing economy, stable business environment and tax regime which supports the growth and development of its businesses, investors, and citizens.

“We have a strong tourism product, being rated the number one honeymoon destination in world for the last 10 years. Saint Lucia is also home to major hospitality brands like Hilton and Marriott and our shores attract over one million tourists from the USA, Canada and Europe every year,” added Emmanuel.

Saint Lucia’s colourful heritage is ingrained in the culture of the island and celebrated by locals and visitors alike. With a history spanning hundreds of years and including stories of pirates, colonies, and battles, it’s enough to pique anyone’s interest.

Each part of the island has distinct features to be experienced and enjoyed. The island’s volcanic origin is the reason for its lush vegetation, soothing mud pools and iconic Sulphur Springs.

When asked why Saint Lucia should be favourable to asset managers and applicants, Emmanuel responded that country has a favourable tax regime, stable economy and its policies make it easy for entrepreneurs to do business, not to mention the favourable Caribbean weather conditions.

Saint Lucia is also very well-connected to the rest of the world with international flights to the United States, Canada, and Europe. The low cost of living coupled with the high quality of life makes it the ideal place to live. The Caribbean way of life has a universal appeal that simply cannot be matched.

“During the Covid-19 pandemic, we had a surge of applications from north Americans who want to be able to work from anywhere – we commonly see people with their laptops on the beach, in hotel lobbies and villas – that’s one of the strong selling points for US citizens looking to invest in Saint Lucia.”

Those looking to get away from the pressures and humdrum of city life will be well suited to invest in the country.

The country also has a favourable tax regime, American investors do not need to pay inheritance tax, worldwide income tax, or capital gains tax – making it an ideal destination for wealth planning.

Looking at which nationalities have favoured getting second citizenship from Saint Lucia, Emmanuel said “In terms of applicants, China continues to be number one and as of 2021, US applicants have taken the second spot – particularly applicants from the states of New York, Philadelphia, Florida and a small number from Las Vegas. In Canada, a lot of applicants come from Toronto.”

Emmanuel also added that the two major reasons for Americans looking to gain second citizenship from Saint Lucia are safety and tax planning.

“Many US citizens are looking for safety. Americans travel extensively and their passport can be seen as a target due to ongoing geopolitical conflict, especially in regions like the Middle East and Eastern Europe. What they do when travelling to these regions is use our passport and keep their American passport in their back pocket. The second major reason for investing in our citizenship by investment programme is to tap into our favourable tax system, which continues to be a drawcard. Saint Lucia offers a lot of offshore financial solutions.”

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Vantage’s swap-free trading provides gold traders nearly US$1million in savings over a three-month period

The popular product update will be extended to trades made for other digital assets

PORT VILA, Vanuatu, Dec. 8, 2022 /PRNewswire-HISPANIC PR WIRE/ – Vantage, (or “Vantage Markets”) says its swap-free gold XAUUSD trading has seen overwhelming response from clients. Within the first three months of its implementation, Vantage traders enjoyed nearly USD 1 million in savings* from overnight fees.

Vantage’s swap-free trading provides gold traders nearly US$1million in savings over a three-month period

In response to client’s positive feedback, Vantage has decided to continue its swap-free trading beyond 2022 and extend the offering to other digital assets to benefit more clients.

The swap-free product enhancement was designed to provide greater convenience for gold XAUUSD traders. Clients are not charged overnight fees when trading across all trading accounts, including on the Vantage App, regardless of trade size. Details of the swap-free trading can be found here. Clients can also calculate their own potential savings with the Vantage Swap Calculator.

Marc Despallieres, Chief Strategy and Trading Officer, says, “We have received much positive feedback from our clients, and are pleased to extend this offering for their benefit. Amid extreme market volatility, swap-free trading eliminates overnight fees as a cost consideration for our clients when they choose to pursue longer term trading strategies. It also affords them the flexibility to close their trades at a time of their choosing, for their hedging purposes, removing the necessity of closing their trades on a daily basis.”

“At Vantage, we are constantly looking to enhance our offerings to allow our clients to trade market opportunities on their own terms.”

*Based on figures provided by Vantage entities.

About Vantage

Vantage (or “Vantage Markets”) is a global, multi-asset broker offering clients access to a nimble and powerful service for trading CFDs on Forex, Commodities, Indices, Shares, ETFs and Bonds. With more than 13 years of market experience. Vantage now has over 1,000 employees across more than 30 global offices.

Vantage is more than a broker. It provides a trusted trading ecosystem, an award-winning mobile trading app, and a user-friendly trading platform that enables clients to take advantage of trading opportunities. Download the Vantage App on App Store or Google Play.

Be empowered to better capitalise on winning market opportunities when you trade smarter @vantage.

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Parkland announces 2023 guidance

2023 Adjusted EBITDA guidance1 of $1.7 billion to $1.8 billion
2025 Adjusted EBITDA ambition of $2 billion without further acquisitions
Reducing leverage and enhancing shareholder returns

CALGARY, AB, Dec. 7, 2022 /PRNewswire-HISPANIC PR WIRE/ — Parkland Corporation (”Parkland”, “we”, “our”, or the “Company”) (TSX: PKI) announced today its 2023 guidance which underscores the strength of its differentiated business model, diversified customer base and operating geographies.

“We are two years into the four-year strategy outlined at our investor day last year,” said Bob Espey, President and Chief Executive Officer. “Having accelerated acquisitions, we are focused on integration, capturing synergies, deleveraging and enhancing shareholder returns. We expect to deliver record Adjusted EBITDA in 2023 and have high confidence in achieving our $2 billion Adjusted EBITDA ambition by 2025 without further acquisitions.”

“Our balanced capital allocation approach prioritizes deleveraging, followed by enhancing shareholder distributions and growth,” added Espey. “We will exercise strict capital discipline, investing in accretive opportunities and optimizing our portfolio to ensure strategic fit and attractive returns. We are entering a phase of our strategy where we will harvest value from the unique business we have created.”

2023 Guidance
  • Adjusted EBITDA attributable to Parkland (”Adjusted EBITDA”) of $1,700 million to $1,800 million, which includes an approximate $100 million impact as a result of the eight-week turnaround planned at the refinery in Burnaby, British Columbia (the “Burnaby Refinery”) in the first quarter of 2023.2
  • Capital expenditures of $500 million to $550 million, which is comprised of:
    • Maintenance capital expenditures1 of $300 million to $325 million, which includes approximately $100 million for the planned turnaround at the Burnaby Refinery.
    • Growth capital expenditures1 of $200 million to $225 million, which we expect to be largely funded by anticipated network optimization dispositions.
  • Reduce Leverage Ratio1 to approximately 3 times by year-end 2023.
2025 Outlook

We have high confidence in meeting our 2025 strategic ambition, which includes:

  • $2 billion of Adjusted EBITDA without further acquisitions.
  • Reduce Leverage Ratio to the low end of our target range of 2 to 3 times by year-end 2025.
  • Cash flow generated by operating activities of approximately $9.50 per common share.3

We have made significant progress advancing our strategy and will continue to drive organic growth by:

  • Harnessing our integrated supply platform to extract greater value from our retail and commercial network.
  • Expanding ON the RUN across Canada and into the United States, growing membership of the JOURNIE™ loyalty program, and advancing our food strategy.
  • Helping customers lower their environmental impact with renewable fuels, carbon offsets, and Electric Vehicle charging.
Business model and strategy

Our proven business model is centered around organic growth, our supply advantage, driven by scale and our integrated refinery and supply infrastructure, acquiring prudently, and integrating successfully. Our strategy is focused on developing our existing business in resilient markets, growing our food, convenience, and renewable energy businesses, and helping customers to decarbonize.

__________________________________

1 Supplementary Financial Measure. See “Supplementary Financial Measure” section of this news release.

2 Assumes Refining adjusted gross margin of CAD$40/bbl. and average Burnaby Refinery utilization of between 75 and 85 percent. Adjusted gross margin composition is consistent with that disclosed in Section 14A of the Q3 2022 MD&A.

3 Assumes approximately 175 million common shares are issued and outstanding.

About Parkland Corporation

Parkland is an international fuel distributor and retailer with operations in twenty-five countries. Our purpose is to Power Journeys and Energize Communities, and every day, we provide over one million customers with the essential fuels, convenience items and quality foods on which they depend.

With over 4,000 retail and commercial locations across Canada, the United States, and the Caribbean region, we have developed supply, distribution, and trading capabilities to accelerate growth and business performance. In addition to meeting our customers’ needs for essential fuels, we provide a range of choices to help them lower their environmental impact. These include carbon and renewables trading, solar power, renewables manufacturing and ultra-fast Electric Vehicle charging.

Our business is underpinned by our people, and our values; safety, integrity, community, and respect, which are deeply embedded across our organization.

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, strategies and model; Parkland’s focus on integration, capturing synergies, deleveraging and enhancing shareholder returns; expect to deliver record Adjusted EBITDA in 2023; Parkland’s capital allocation approach, including investing in accretive opportunities and optimizing its portfolio and the expected effects thereof; Parkland’s 2023 guidance, including with respect to Adjusted EBITDA, capital expenditures (maintenance capital and growth capital) and leverage ratio; the planned turnaround at the Burnaby Refinery in the first quarter of 2023 and the estimated impact thereof on 2023 guidance; future dispositions and the expectation of such dispositions to largely fund 2023 growth capital; Parkland’s 2025 outlook and its high confidence in meeting its 2025 strategic ambition, which includes $2 billion Adjusted EBITDA, reducing leverage ratio to the lower end of the 2 to 3 times range, and cash flow generated by operating activities of approximately $9.50 per common share; and Parkland’s four-year strategy, the progress thereof and continuing to drive organic growth through its integrated supply platform, expanding ON the RUN and JOURNIE™ loyalty program, advancing its food strategy, and helping customers lower their environmental impact with renewable fuels, carbon offsets and Electric Vehicle charging.

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 and the Russia-Ukraine conflict; Parkland’s ability to execute its business strategies and capital allocation approach, including without limitation, with respect to integration, capturing synergies, deleveraging, enhancing shareholder returns and growth, successfully implementing organic growth initiatives and to finance such initiatives on reasonable terms; Parkland’s ability to complete projects; Parkland’s ability to complete the planned turnaround at the Burnaby Refinery in a timely manner and the financial impact thereof; Refining adjusted gross margin and average utilization at the Burnaby Refinery in 2023; number of common shares issued and outstanding in 2025; 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 Revised Annual Information Form dated March 17, 2022, and “Forward-Looking Information” and “Risk Factors” included in the Q4 2021 MD&A dated March 3, 2022, 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.

Supplementary Financial Measures

This press release refers to Adjusted EBITDA guidance, maintenance capital expenditures guidance, growth capital expenditures guidance and Leverage Ratio guidance, which are supplementary financial measures and may not be comparable to similar measures used by other issuers, who may calculate these measures differently. See Section 14 of the Q3 2022 MD&A for a discussion of Adjusted EBITDA guidance, maintenance capital expenditures guidance and growth capital expenditures guidance, which is incorporated by reference into this presentation. See below for details on the Leverage Ratio guidance.

Leverage Ratio Guidance

This measure represents our forecast of the Leverage Ratio and is calculated based on historical data and estimates of future conditions as inputs to make informed forecasts that are predictive in determining the direction of future trends. This measure is a forward-looking measure of which the equivalent historical measure is the Leverage Ratio. See Note 7 of the Q3 2022 interim condensed consolidated financial statements for further detail on the composition of the Leverage Ratio. The Leverage Ratio does not have any standardized meaning prescribed under IFRS. It is therefore unlikely to be comparable to similar measures presented by other companies.

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Vantage introduces Social Trading to make trading more interactive

Vantage App is also available on more phone models

PORT VILA, Vanuatu, Dec. 1, 2022 /PRNewswire-HISPANIC PR WIRE/ – Vantage (or “Vantage Markets”), the multi-asset broker, has launched social trading on the Vantage App, making it an all-in-one trading app that supports both regular trading and social trading.

Lian Jie, Assistant App Marketing Director, Vantage

Social trading is an innovative feature that turns trading into a social event. Experienced traders can share their trading strategies as signal providers. Novice traders will be able to follow numerous signal providers, gain insights from experienced investors, and trade their strategies by mirroring the trades of others.

The Vantage App offers access to over 1000 trading instruments including CFDs on Forex, Commodities, Indices, Energy, Shares, ETFs and Bonds.

It has an intuitive in-app navigation and provides a comprehensive range of charts, technical tools, order types, personalised trading reports and alerts. Available in 14 languages, the Vantage App also offers market analysis and market news powered by Trading Central and FX Street.

With the growing demand for mobile trading in mobile-centric markets, the Vantage App is now supported on OPPO, VIVO, Huawei, Xiaomi, and Samsung devices, on top of iOS and Android devices.

Lian Jie, Assistant App Marketing Director at Vantage explains how the new feature is revolutionizing the traditional CFD industry. “As our active investor profile gets younger, our clients have been more willing to explore and adopt innovative trading methods like social trading, going beyond traditional trading methods. At Vantage, we understand how technology and innovation can transcend boundaries, so we have utilized the power of technology in our Vantage App to meet the needs of the next generation and provide a seamless and convenient experience for all our clients.”

About Vantage

Vantage (Vantage Global Limited (VFSC 700271) ) is a global, multi-asset broker offering clients access to a nimble and powerful service for trading CFDs on Forex, Commodities, Indices, Shares, ETFs and Bonds.

With more than 13 years of market experience, Vantage now has over 1,000 employees across more than 30 global offices.

Vantage is more than a broker. It provides a trusted trading ecosystem, an award-winning mobile trading app, and a user-friendly trading platform that enables clients to take advantage of trading opportunities. Download the Vantage App on App Store or Google Play.

trade smarter @vantage

Vantage introduces Social Trading to make trading more interactive

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Vantage and NEOM McLaren Extreme E make a splash for ESG at the Finance Magnates London Summit 2022

LONDON, Nov. 22, 2022 /PRNewswire-HISPANIC PR WIRE/ — International multi-asset broker, Vantage (also known as “Vantage Markets”), is pleased to announce its participation and sponsorship of the Finance Magnates London Summit for the second year running, with a renewed push for ESG.

This year, Vantage was accompanied by their partner NEOM McLaren Extreme E to exhibit the fully electric SUV vehicle – named ODYSSEY 21 – at Old Billingsgate in London, next to the outdoor gazebo.

Vantage and NEOM McLaren Extreme E make a splash for ESG at the Finance Magnates London Summit 2022

At the same time, Vantage launched its UK-based liquidity service Vantage Connect during the summit, with a stunning new look that is befitting of the institutional brand.

Vantage and NEOM McLaren Extreme E make a splash for ESG at the Finance Magnates London Summit 2022

The exhibition is a culmination of Vantage’s efforts in the ESG space. The company has partnered with NEOM McLaren Extreme E in a Blue Carbon initiative, leveraging on renowned social media publisher Supercar Blondie to raise awareness on climate change and gender equality.

The group has also partnered UNHCR for a dollar-for-dollar fund raising event for refugees, worked with Red Cross for a global blood donation drive, and partnered with UNESCO to support their education initiatives in India.

These ESG initiatives and more were part of the discussion at the London Summit. Vantage’s UK CEO, David Shayer was joined by Kim Wilson, Director of Sustainability, McLaren Racing, to speak at the ESG-focused panel “Fintech for Good: Social Impact & Innovation in Fintech”, which was held at 2pm at the Centre Stage.

Shayer also spoke more about the significance of Vantage Connect in a volatile market at the panel discussion “Risk Management for Turbulent Times”, which was held at 12.30pm at the Innovate Stage.

David Shayer, CEO, Vantage UK, says: “We are pleased to join Finance Magnates once again on such a key event. This has been a very exciting year for Vantage, starting with our partnership with NEOM McLaren Extreme E, to the launch of VSocial and Vantage Connect. Our business has evolved to be more in tuned with the needs of our retail and institutional clients, and we are proud to be part of an organization that makes care our main currency.”

About Vantage

Vantage is a global, multi-asset broker offering clients access to a nimble and powerful service for trading CFDs on Forex, Commodities, Indices, Shares and ETFs.

With more than 13 years of market experience, Vantage now has over 1,000 employees across more than 30 global offices.

Vantage is more than a broker. It provides a trusted trading ecosystem and a user-friendly trading platform that enables clients to take advantage of trading opportunities.

Be empowered to better capitalise on winning market opportunities when you trade smarter @vantage

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New government of St Kitts and Nevis ready to usher in new sense of cooperation and good governance, hints at changes to the country’s CBI programme

CARIBPR WIRE, Basseterre, St. Kitts, Nov. 16, 2022:  St Kitts and Nevis welcomed a new government in August and the new administration, led by Dr Terrance Drew, is ready and determined to usher in a new sense of cooperation, good governance, and transparency – starting with steps to improve the country’s long-standing citizenship by investment (CBI) programme.

In his address on Tuesday, 15 November, marking his first 100 days in office, Prime Minister Dr Terrance Drew provided insight into the focus areas for the CBI changes, which he gave to the citizens of St Kitts and Nevis at an event held earlier today in the country’s capital Basseterre.

Since winning the snap election on 5 August, Prime Minister Dr Terrance Drew has been working tirelessly for the overall development of St Kitts and Nevis and has undertaken various initiatives including the formation of a committee to combat corruption.

The new administration has presented plans for the advancement of the twin-island nation, outlining steps that will pave the way to improving the lives of its people. A large part of these plans is funded by the CBI programme which has secured foreign direct investment into the nation for nearly 40 years since it is independence.

“Our government has been relentless in our pursuit to strengthen and improve our Citizenship by Investment programme, for enhanced sustainability within a framework of integrity. We have held productive discussions with local developers and international investors alike,” said Prime Minister Drew.

“There will be much stronger oversight and leadership in the CBI Unit by a new CBI Board and Technical Committee. I will announce the detailed changes at our upcoming press conference, but I want to be absolutely clear, that our evolved CBI programme will be run with the utmost transparency.”

To help progress the economy, Prime Minister Drew highlighted that more oversight would ensure that the people of St Kitts and Nevis would also benefit from the CBI programme as it was intended. Plans are in place to support women in sectors like construction, to provide more support to small businesses, and to review opportunities for the development of the renewable energy sector, the processing of fish, as well as packaging and exports.

With promises to improve health care, provide more affordable housing and access to better education – Prime Minister Drew understands that all this will be underpinned by a stronger economy.

Speaking at the event Prime Minister Drew said that while the nation has been the benchmark of citizenship by investment value proposition, the new administration understands that in order to remain one of the most sought-after economic citizenship programmes in the world, it needs to evolve and forge a new path for itself and the industry as it responds to a changing demographic.

Through ongoing consultations with all stakeholders during the exploratory phase, the new government aims to have regular engagement with local and international stakeholders in the programme to ensure it meets their salient needs.

Prime Minister Drew also emphasised how his government is on a journey to bring clarity to locals and international investors through constant transparency and integrity. “Our ongoing work to strengthen this programme and the system must result in prosperity for all.”

Consultations with stakeholders have led to the development of committees to supervise the process and implement strengthened legislative and administrative structures to prevent “underselling” and ensure that real estate projects funded by the CBI programme are completed.

The government’s plan is to maintain a progressive programme that cements St Kitts and Nevis’ place as a leader in the CBI Industry.

The government is also seeking out reliable and trustworthy developers who are ready to put capital behind creative and strong projects that will enhance St Kitts and Nevis’ CBI offering.

St Kitts and Nevis holds the oldest citizenship by investment programme in the world – established in 1984, the programme currently allows investors to gain second citizenship by donating to a government fund or by investing in real estate.

The government fund channels investment to projects that will uplift the country and has enabled, in part, sectors such as health, education, tourism, business, and agriculture to flourish.

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Vantage launches UK liquidity service for institutional traders

LONDON, Nov. 15, 2022 /PRNewswire-HISPANIC PR WIRE/ — International multi-asset trading platform Vantage (or “Vantage Markets”) is announcing the launch of Vantage Connect, a liquidity solution for institutions and corporates in the UK.

To be officially announced at Finance Magnates London Summit 2022, the news comes as part of a wider strategic push by Vantage to expand the institutional side of their business in response to growing demand among hedge funds, family offices, banks, brokers, money managers and asset managers for bespoke trading solutions.

Widespread volatility has led to a 17.2% year on year increase in trading volumes globally this September. This presents both risks and opportunities for institutions, who must navigate rapidly changing market conditions, such as the LSE widened the spread limit on UK gilts, as well as bigger spreads, such as on the CFD and derivatives contracts that are commonly used in hedging strategies.

Vantage Connect allows these institutional clients to manage volatility effectively and make the most of market opportunities by leveraging Vantage’s deep liquidity pool to buy and sell complex assets quickly.

The offering is customised depending on what the clients’ needs are across the full range of Vantage’s services, including in-house built risk management and their unique PAMM (percentage allocation management module). It is quick and secure, as clients can easily plug into the service via an API, ensuring speed to market, and are protected under Vantage’s FCA license.

Vantage Connect will be exhibiting at this year’s FMLS and will be joined by the McLaren Extreme E team, who will be featuring their new vehicle.

David Shayer, UK CEO at Vantage, commented: “Market volatility often brings opportunities for those who know where to look, and we’ve seen the increasing volumes over the last few months. We’ve built up a strong retail solution, and now is the right time to expand to institutional investors. We have a strong team in the UK, all of whom are excited to launch the new service, that ensures that Vantage can be a trusted partner and a one-stop shop for the institutional trading community, and gives them the springboard to make the most of market opportunities.”

About Vantage

Vantage is a global, multi-asset broker offering clients access to a nimble and powerful service for trading CFDs on Forex, Commodities, Indices, Shares and ETFs.

With more than 13 years of market experience, Vantage now has over 1,000 employees across more than 30 global offices.

Vantage is more than a broker. It provides a trusted trading ecosystem and a user-friendly trading platform that enables clients to take advantage of trading opportunities.

Be empowered to better capitalise on winning market opportunities when you trade smarter @vantage

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Enter the ‘World Cup Craze’ event with Vantage and win prizes with your favourite soccer teams

Vote for the winning team and earn prizes during the upcoming soccer championship, created by Vantage – the modern financial app and service for effortless trading on the go.

SINGAPORE, Nov. 14, 2022 /PRNewswire-HISPANIC PR WIRE/ – Vantage (or “Vantage Markets”), the international multi-asset broker, is pleased to announce the launch of its World Cup Craze Event, in anticipation of the upcoming World Cup 2022. From today, traders on the Vantage App will be able to vote for the winning team in each match for exciting prizes.

With a total of 64 matches throughout the entire event, the World Cup Craze is expected to be an intriguing and fun way for sports enthusiasts to follow the players, teams, and outcomes while engaging with other soccer fans in this one-of-a-kind Vantage event centred around the world’s favourite sport. Winners will be announced after the event’s close on December 23, 2022.

The Vantage app enhances users’ mobile trading experience with social app trading features, seamless in-app deposits, proprietary technical analysis tools and more, to ensure users have the best tools to make the most of their trading opportunities.

To learn more about Vantage’s World Cup Craze and to enter, visit the official entry page here. Participants can also engage with Vantage on TikTokTwitterInstagram and Facebook to keep up with the winner’s reveal and event related announcements.

About Vantage

Vantage (or “Vantage Markets”) is a global, multi-asset broker offering clients access to a nimble and powerful service for trading Forex, Commodities, Indices, Shares, Bonds and ETFs.

With more than 13 years of market experience. Vantage now has over 1,000 employees across more than 30 global offices.

Vantage is more than a broker. It provides a trusted trading ecosystem, an award-winning mobile trading app, and a user-friendly trading platform that enables clients to take advantage of trading opportunities. Download the Vantage App on App Store or Google Play.

Be empowered to better capitalise on winning market opportunities when you trade smarter @vantage

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Saint Lucia increases its production capacity to overcome dependency on food imports

CaribPR Wire, Castries, Nov. 09, 2022: In response to the global food crisis, Saint Lucia, a small island state in the Caribbean, has rolled out a number of government programs to increase food security, boosting its agricultural production and minimizing its reliance on imports.

And indeed, the country’s recent measures have proved timely. With inflation on the rise even within wealthy countries, it appears that the global food crisis will worsen before it improves. The conflict in Europe has also impacted inflation, having affected how commodities are produced, used and traded across the world. These changes are likely to keep food prices high until 2024, prolonging and worsening international food security.

This state of affairs has proved particularly challenging for many Small Island Developing States (SIDS) which, already on the frontline of climate change, are facing increased food insecurity due to the rising cost of imports. In response to this, Saint Lucia has increased its food production capacities in a bid to overcome its dependency on imports. Under the direction of Alfred Prospere, Saint Lucia’s Minister for Agriculture and Food Security, the government has launched several initiatives to strengthen the country’s production.

These efforts include the government’s Seven Crops project which aims to grow and strengthen supply chains in the fruit and vegetable sector. The Ministry of Agriculture reported that since the introduction of the project, the island has significantly increased production for a number of crops targeted by the programme – these include papaya, broccoli, cucumber, pumpkin, cauliflower, eggplant, corn, dragon fruit and sugar apples.

The government also improved its agriculture intelligence information systems, setting up stable markets for farmers and introducing new technologies into the agricultural sector in an effort to lower Saint Lucia’s food import bill. So far, this development has led to an increase in both the quality and quantity of agricultural yields.

In addition to these measures, the government has also offered a 30% subsidy to banana crop farmers to support its export industry. In 2020, bananas were one of the country’s most profitable exports, with crops being sent to Barbados (US$302,000), Canada (US$1 412,000) and the United Kingdom ( US$2.61M).

With the global supply chain experiencing significant disruption and many agricultural commodities facing significant breaks to their supply, the government’s actions have come at an opportune moment. For many countries, global supply chain problems have led to skyrocketing prices for food commodities, a problem exacerbated by the increasing cost of agricultural commodities.

Saint Lucia’s government has therefore been prioritising the development and promotion of extensive farming on the island, with the goal of increasing self-reliance in the country’s food supply. By lessening its dependence on imports, Saint Lucia has sought to insulate itself from the ever-rising inflation affecting countries across the world.

Current projections from economic forecasters indicate that further rises in inflation are expected for 2023. This increase will prove particularly onerous for emerging and underdeveloped nations. According to data collected between May and August 2022, most low and middle-income countries have already experienced significantly high inflation, with 88.2% of low-income, 91.1% of lower-middle-income and 93% of upper-middle-income countries having experienced inflation rises above 5%. With domestic food price inflation very high across the world, including in the United States, Saint Lucia is standing firm against the odds.

One factor contributing to Saint Lucia’s success is the active participation of its youth in its agricultural upliftment. Across the world, there has been a decline in young workers entering the agriculture sector. With this shortage of farmers, most major food producers have reported declines in their output – with knock-on effects on food security. However, Saint Lucia’s agriculture minister noted that its youth are actively participating in the sector and that this participation has led to an improvement in the island’s food supply.

Building on this contribution from Saint Lucia’s youth, the government has introduced a number of new policies and subsidies to assist local farmers. These policies are supported by funds from the country’s Citizenship by Investment Programme (CIP).  Citizenship by Investment allows individuals to gain citizenship to a country by investing a certain amount in the country’s economy. In Saint Lucia, this investment involves contributing to the National Economic Fund Investment Option which sponsors social development.

Launched in 2016, Saint Lucia’s Citizenship by Investment Programme (CIP) is the newest CIP in the Caribbean. The programme hopes to establish itself as one of the best programmes in the world. In line with these aims, the programme is already ranked among the top three Citizenship by Investment (CBI) Programmes in the world, according to the “CBI Index 2022” published by the PWM Magazine of the Financial Times.

High-net-worth individuals can invest in the National Economic Fund Investment, known as the Fund Option, to apply for alternative citizenship in Saint Lucia. The Fund Option allows investors to support the country’s socio-economic advancement as well as the expansion and development of its infrastructure. The minimum investment required is $100,000 (US).

Since the inception of the programme, Saint Lucia’s government has time and again proved its judiciousness, allocating the funds generated by its CIP to support socio-economic advancement. The programme also operates with a high degree of transparency, with the CIP providing detailed information to investors about how their funds are being used. Most recently, CIP funds have contributed to the uplift of the agriculture sector, particularly to the development of new and advanced farming techniques. The success of this support has become evident, with the country’s food production surging as it progresses towards food security.

Along with its support of Saint Lucia’s development, the CIP has proved exceptionally beneficial to investors. Given the opportunity to become global citizens, investors have thrived, with unimpeded access to the country providing an ideal framework for wealth planning, the expansion of business and access to international business markets.

Defying global uncertainties and crises in these uncertain times, Saint Lucia’s careful investment in food production proves its ability to provide a safe and secure environment for those looking to share in its prosperous future.

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Parkland Announces 2022 Third Quarter Results

Completed previously announced acquisitions
Focused on balance sheet strength and shareholder distributions
On track with 2022 Adjusted EBITDA1 guidance range of $1.6 to $1.7 billion

CALGARY, AB, Nov. 2, 2022 /PRNewswire/ — Parkland Corporation (”Parkland”, “we”, the “Company”, or “our”) (TSX: PKI), today announced its financial and operating results for the three and nine months ended September 30, 2022.

Q3 2022 Highlights

  • Adjusted EBITDA attributable to Parkland (”Adjusted EBITDA”1) of $328 million, down approximately 10 percent from Q3 2021. Excluding previously disclosed spot wholesale inventory and risk management losses in our USA segment of $65 million, Adjusted EBITDA was $393 million, up 8 percent from Q3 2021.
  • Net earnings attributable to Parkland of $105 million ($0.67 per share, basic), down from $110 million ($0.72 per share, basic) from Q3 2021, and Adjusted earnings attributable to Parkland1 of $49 million ($0.31 per share, basic), down from $129 million ($0.85 per share, basic) from Q3 2021.
  • Trailing twelve months (”TTM”) distributable cash flow1 of $726 million ($4.68 per share) and Q3 2022 cash generated from operating activities of $402 million, up $14 million and $202 million, respectively, from the comparable prior year periods.
  • Leverage ratio1 of 3.5x, up from 3.2x in the prior quarter. Long-term debt primarily increased due to the completion of previously announced acquisitions and foreign exchange impacts.
  • Fuel volumes of approximately 7 billion litres, up over 13 percent from Q3 2021, reflecting the strength of our marketing business and the impact of acquisitions.
  • Completed the previously announced acquisitions of select Husky branded retail locations and the Jamaican business of GB Group. Subsequent to the quarter, we completed the consolidation of our International segment.
  • Parkland is suspending its enhanced Dividend Reinvestment Plan for its common shares until further notice. As a result, shareholders will only receive future dividends in cash.

“Record year to date Adjusted EBITDA puts us on track to deliver our 2022 guidance,” said Bob Espey, President and Chief Executive Officer. “We have completed all previously announced acquisitions and remain focused on integrating the acquired businesses and capturing synergies. We have demonstrated disciplined capital allocation and will strike a balance between reducing our leverage ratio, enhancing shareholder distributions and growth. We anticipate a strong 2023 and remain confident in achieving our $2 billion Adjusted EBITDA ambition by 2025.”

Q3 2022 Segment Highlights

  • Canada delivered Adjusted EBITDA1 of $140 million, up approximately 4 percent from Q3 2021 ($134 million). Performance was underpinned by strong fuel unit and c-store margins and acquisitions.
  • International delivered Adjusted EBITDA of $104 million, up 25 percent, from Q3 2021 ($83 million). Performance was underpinned by our consolidation of our International segment and volume growth driven by ongoing tourism recovery.
  • USA delivered an Adjusted EBITDA loss of $18 million, down from Adjusted EBITDA of $43 million in Q3 2021. Excluding the impact of previously disclosed spot wholesale inventory and risk management losses, Adjusted EBITDA from our retail and commercial businesses was $47 million, an increase of 9 percent from Q3 2021, driven by acquisitions, strong fuel unit margins and marine contract wins.
  • Refining delivered Adjusted EBITDA1 of $135 million, up 7 percent, from Q3 2021 ($126 million). Performance was underpinned by strong refining crack margins, consistent operations, and composite utilization2 of 94 percent (101 percent in Q3 2021), partially offset by higher operating costs.

Sustainability Leadership

Sustainability is deeply embedded across our business. Accomplishments from the third quarter, and year-to-date are included in the Q3 2022 MD&A. Third quarter highlights include:

  • Continued reduction in year-over-year TTM lost time and total recordable injury frequency rates2.
  • Co-processed over 32 million litres of bio-feedstocks; equivalent to removing over 30,000 cars off the road.
  • Generated $16 million of Total Renewable Adjusted EBITDA1.
  • Published our 2021 sustainability report, available here.

__________

1 Specified Financial Measure. See “Specified Financial Measures” section of this news release.

2 Non-Financial Measure. See “Non-Financial Measures” section of this news release.

Consolidated Financial Overview

($ millions, unless otherwise noted)

Three months ended September 30,

Financial Summary

2022

2021(2)

Fuel and petroleum product volume (million litres)

7,067

6,234

Sales and operating revenue(1)(2)

9,523

5,982

Adjusted EBITDA attributable to Parkland (”Adjusted EBITDA”)(3)

328

364

Canada(1)(3)

140

134

International

104

83

USA

(18)

43

Refining(1)(3)

135

126

Corporate(1)

(33)

(22)

Net earnings attributable to Parkland(1)(2)

105

110

Net earnings per share – basic ($ per share)(2)

0.67

0.72

Net earnings per share – diluted ($ per share)(2)

0.66

0.72

Adjusted earnings attributable to Parkland (”Adjusted earnings”)(4)

49

129

Adjusted earnings per share – basic ($ per share)(4)

0.31

0.85

Adjusted earnings per share – diluted ($ per share)(4)

0.31

0.84

TTM Distributable cash flow(4)

726

712

TTM Distributable cash flow per share(4)

4.68

4.72

Cash generated from (used in) operating activities

402

200

( 1)

Certain amounts within sales and operating revenue, cost of purchases, and Marketing, general and administrative were restated and reclassified to conform to the presentation used in the current period. Refer to the Basis of presentation section of the Q3 2022 MD&A.

(2)

Certain amounts were restated for the impact of hyperinflation on the respective prior periods in 2021.

(3)

Total of segments measure. See “Specified Financial Measures” section of this news release.

(4)

Non-GAAP financial measure. See “Non-GAAP Financial Measures and Ratios” section of this news release.

Q3 2022 Conference Call and Webcast Details

Parkland will host a webcast and conference call on Thursday, November 3, at 6:30 am MDT (8:30 am EDT) to discuss the results. To listen to the live webcast and watch the presentation, please use the following link: https://app.webinar.net/APvXEkv1p2a

Analysts and 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: 73952116). International participants may call 1-800-389-0704 (toll free) (Conference ID: 73952116).

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 management’s discussion and analysis for the three and nine months ended September 30, 2022 (the “Q3 2022 MD&A”) and consolidated financial statements for the three and nine months ended September 30, 2022 (the “Q3 2022 Consolidated Financial Statements”) provide a detailed explanation of Parkland’s operating results for the three and nine months ended September 30, 2022. 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 French versions of the Q3 2022 MD&A and the Q3 2022 Consolidated Financial Statements will be posted to www.parkland.ca and SEDAR as soon as they become available.

About Parkland Corporation

Parkland is an international fuel distributor and retailer with operations in 25 countries. Our purpose is to Power Journeys and Energize Communities, and every day, we provide over one million customers with the essential fuels, convenience items and quality foods on which they depend.

With over 4,000 retail and commercial locations across Canada, the United States, and the Caribbean region, we have developed supply, distribution, and trading capabilities to accelerate growth and business performance. In addition to meeting our customers’ needs for essential fuels, we provide a range of choices to help them lower their environmental impact. These include carbon and renewables trading, solar power, renewables manufacturing and ultrafast Electric Vehicle charging.

Parkland’s proven strategy is centered around organic growth, our supply advantage, acquiring prudently, and integrating successfully. We are developing our existing business in resilient markets, growing our food, convenience, and renewable energy businesses, and helping customers to decarbonize. Our strategy is underpinned by our people, and our values; safety, integrity, community, and respect, which are deeply embedded across our organization.

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 expectation of meeting its  2022 Adjusted EBITDA guidance; Parkland’s expectation of a strong 2023 and being on track to achieve its ambition for $2 billion of Adjusted EBITDA by 2025; the payment of future dividends, if any; integrating acquisitions, and capturing synergies; and Parkland’s expected capital allocation, including balancing reducing Parkland’s leverage ratio, enhancing shareholder distributions and growth.

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 and the Russia-Ukraine conflict; Parkland’s ability to execute its business strategies, including without limitation, Parkland’s ability to successfully integrate acquisitions, capture synergies, reduce its leverage ratio, successfully implement organic growth initiatives and to finance such acquisitions and initiatives on reasonable terms; Parkland’s ability to complete transactions and projects; 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 Revised Annual Information Form dated March 17, 2022, and “Forward-Looking Information” and “Risk Factors” included in the Q3 2022 MD&A dated November 2, 2022, 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-Financial Measures

Parkland uses a number of non-financial measures, including composite utilization, TTM lost time injury frequency rate and TTM total recordable injury frequency rate, in measuring the success of our strategic objectives and to set variable compensation targets for employees. These non-financial measures are not accounting measures, do not have comparable International Financial Reporting Standards (”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 Q3 2022 MD&A, which is incorporated by reference into this news release, for further details on the non-financial measures used by Parkland.

Specified Financial Measures

This news release contains total of segments measures, non-GAAP financial measures and ratios and supplementary financial measures and capital management measures (collectively, “specified financial measures”). Parkland’s management uses certain specified financial measures to analyze the operating and financial performance, leverage and liquidity of the business. These specified financial measures do not have any standardized meaning and are therefore unlikely to be comparable to similar measures presented by other companies. The specified financial measures should not be considered in isolation or used in substitute for measures of performance prepared in accordance with IFRS. See Section 14 of the Q3 2022 MD&A, which is incorporated by reference into this news release, for further details regarding specified financial measures used by Parkland.

Non-GAAP Financial Measures and Ratios

Adjusted earnings is a non-GAAP financial measure and Adjusted earnings per share is a non-GAAP financial ratio included in this news release to assist management, investors and analysts with the analysis of the core operating performance of business activities of Parkland on a consolidated level. This non-GAAP financial measure and ratio do not have any standardized meaning under IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. The non-GAAP financial measures and ratios should not be considered in isolation or used in substitute for measures of performance prepared in accordance with IFRS. Except as otherwise indicated, these non-GAAP measures and ratios are calculated and disclosed on a consistent basis from period to period. See section 14 of the Q3 2022 MD&A, which is incorporated by reference into this news release, for further details regarding Parkland’s non-GAAP financial measures and ratios. See below for the reconciliation of Adjusted earnings (loss) to net earnings (loss) and calculation of Adjusted earnings (loss) per share for the three months ended September 30, 2022 and September 30, 2021.

Three months ended
September 30,

($ millions, unless otherwise stated)

2022

2021

Net earnings (loss) attributable to Parkland

105

110

Add: Net earnings (loss) attributable to NCI

13

13

Net earnings (loss)

118

123

Add:

Acquisition, integration and other costs

45

12

Loss on modification of long-term debt

(Gain) loss on foreign exchange – unrealized

(16)

(16)

(Gain) loss on risk management and other – unrealized

(1)

(2)

Other (gains) and losses(1)

(88)

10

Other adjusting items(2)

(5)

4

Tax normalization(3)

2

11

Adjusted earnings (loss) including NCI

55

142

Less: Adjusted earnings (loss) attributable to NCI

6

13

Adjusted earnings (loss)

49

129

Weighted average number of common shares (million shares)(4)

156

152

Weighted average number of common shares adjusted for the effects of dilution (million shares)(4)

158

153

Adjusted earnings (loss) per share ($ per share)

Basic

0.31

0.85

Diluted

0.31

0.84

(1)

Other (gains) and losses for the three months ended September 30, 2022 include the following: (i) $59 million non-cash valuation gain (2021 – $40 million loss) due to the change in redemption value of Sol Put Option; (ii) $37 million non-cash valuation gain (2021 – $38 million gain) due to the change in fair value of redemption options; and (iii) $8 million loss (2021 – $8 million loss) in Other items. For additional information on the Sol Put Option, see the Q3 2022 MD&A.

(2)

Other Adjusting Items for the three months ended September 30, 2022 mainly include the share of depreciation and income taxes for Isla joint venture of $2 million (2021 - $3 million).

(3)

The tax normalization adjustment was applied to net earnings (loss) adjusting items that were considered temporary differences, such as gains and losses on asset disposals, acquisition, integration and other costs, unrealized foreign exchange gains and losses, gains and losses on risk management and other, changes in fair value of redemption options, changes in estimates of environmental provisions, loss on inventory write-downs for which there are offsetting associated risk management derivatives with unrealized gains, and debt modifications. The tax impact was estimated using the effective tax rates applicable to jurisdictions where the related items occur. For additional information on the Isla Joint Venture, see the Q3 2022 MD&A.

(4)

Weighted average number of common shares are calculated in accordance with Parkland’s accounting policy contained in Note 2 of the Annual Consolidated Financial Statements.

TTM distributable cash flow is a non-GAAP financial measure and TTM distributable cash flow per share is a non-GAAP ratio. TTM distributable cash flow is a cash metric that adjusts for the impact of seasonality in Parkland’s business by removing non-cash working capital items and excludes the effect of items that are not considered representative of Parkland’s ability to generate cash flows. Such items include: (i) acquisition, integration, and other costs; (ii) turnaround maintenance capital expenditures, and; (iii) interest on leases and long-term debt, and principal payments on leases attributable to non-controlling interests. Distributable cash flow does not have any standardized meaning under IFRS and is therefore unlikely to be comparable to similar measures presented by other companies. Parkland uses this non-GAAP financial measure to monitor normalized cash flows of the business by eliminating the impact of Parkland’s working capital fluctuations and expenditures used in acquisition, integration and other activities, which can vary significantly from quarter-to-quarter.

Three months ended

Trailing
twelve
months
ended
September
30, 2022

($ millions, unless otherwise noted)

December 31,
2021

March 31,
2022

June 30,
2022

September
30, 2022

Cash generated from (used in) operating activities(1)

118

(48)

343

402

815

Exclude: Adjusted EBITDA attributable to NCI, net of tax

(22)

(26)

(27)

(11)

(86)

96

(74)

316

391

729

Reverse: Change in other liabilities and other assets

8

(2)

(1)

23

28

Reverse: Net change in non-cash working capital

148

436

36

(112)

508

Include: Maintenance capital expenditures attributable to Parkland

(112)

(29)

(44)

(62)

(247)

Exclude: Turnaround maintenance capital expenditures

8

4

12

Include: Proceeds on asset disposals

4

1

2

1

8

Reverse: Acquisition, integration and other costs

24

13

18

45

100

Include: Interest on leases and long-term debt

(59)

(64)

(71)

(74)

(268)

Exclude: Interest on leases and long-term debt attributable to NCI

1

1

1

3

Include: Payments on principal amount on leases

(38)

(37)

(38)

(50)

(163)

Exclude: Payments on principal amount on leases attributable to NCI

5

5

4

2

16

Distributable cash flow

85

250

223

168

726

Weighted average number of common shares (million shares)

155

Distributable cash flow per share

4.68

(1)

Except for the annual reporting period, cash generated from (used in) operating activities for the trailing twelve months is a supplementary financial measure. Refer to Section 14C of the Q3 2022 MD&A.

Three months ended

Trailing
twelve
months
ended

September 30,
2021

($ millions, unless otherwise noted)

December 31,
2020

March 31,
2021

June 30,
2021

September
30, 2021

Cash generated from (used in) operating activities(1)(2)

(40)

264

322

200

746

Exclude: Adjusted EBITDA attributable to NCI, net of tax

(20)

(23)

(21)

(26)

(90)

(60)

241

301

174

656

Reverse: Change in other liabilities and other assets

12

(14)

(9)

4

(7)

Reverse: Net change in non-cash working capital(3)

288

53

22

119

482

Include: Maintenance capital expenditures attributable to Parkland

(39)

(20)

(45)

(40)

(144)

Exclude: Turnaround maintenance capital expenditures

2

3

5

Include: Proceeds on asset disposals

6

5

1

4

16

Reverse: Acquisition, integration and other costs

14

5

11

12

42

Include: Interest on leases and long-term debt

(56)

(54)

(54)

(56)

(220)

Exclude: Interest on leases and long-term debt attributable to NCI

1

1

1

1

4

Include: Payments on principal amount on leases

(35)

(35)

(33)

(36)

(139)

Exclude: Payments on principal amount on leases attributable to NCI

4

4

4

5

17

Distributable cash flow(4)

137

186

199

190

712

Weighted average number of common shares (million shares)

151

Distributable cash flow per share

4.72

(1)

For comparative purposes, information for previous periods was restated due to a change in presentation of cash flows from (used in) operating and financing activities. Interest paid on long-term debt and leases, formerly included in “Cash generated from (used in) operating activities”, is now included in “Cash generated from (used in) financing activities”, reflecting a more relevant presentation of finance costs payments.

(2)

Except for the annual reporting period, cash generated from (used in) operating activities for the trailing twelve months is a supplementary financial measure. Refer to Section 14C of the Q3 2022 MD&A.

(3)

For comparative purposes, information for the quarter ended September 30, 2021 was restated due to a change in presentation for certain emission credits and allowances held for trading, which were formerly included in “Risk management and other” and are now included in “Inventories”.

(4)

Prior to March 31, 2021, distributable cash flow was referred to as adjusted distributable cash flow. The previous measure was consolidated to a single primary measure representing Parkland’s ability to generate cash flows.

Supplementary Financial Measures

Parkland uses a number of supplementary financial measures, including dividends per share, TTM dividends and TTM cash generated from (used in) operating activities, to evaluate the success of our strategic objectives and to set variable compensation targets for employees. These measures may not be comparable to similar measures presented by other issuers, as other issuers may calculate these metrics differently. See Section 14 of the Q3 2022 MD&A, which is incorporated by reference into this news release, for further details regarding supplementary financial measures used by Parkland.

Capital Management Measures

Parkland’s primary capital management measure is the Leverage Ratio, which is used internally by key management personnel to monitor Parkland’s overall financial strength, capital structure flexibility, and ability to service debt and meet current and future commitments. The Leverage Ratio is calculated as a ratio of Leverage Debt to Leverage EBITDA (each as defined in the Q3 2022 Consolidated Financial Statements) and does not have any standardized meaning prescribed under IFRS. It is therefore unlikely to be comparable to similar measures presented by other companies. See Section 14 of the Q3 2022 MD&A, which is incorporated by reference into this news release, for further details regarding capital management measures used by Parkland.

Total of Segments Measures

Adjusted EBITDA is a total of segments measure used by the chief operating decision maker to make decisions about resource allocation to the segment and to assess its performance. Adjusted EBITDA for the Canada and Refining segments and Total Renewable Adjusted EBITDA (being a summation of Canada and Refining segment renewable subsegments) are also total of segments measures. In accordance with IFRS, adjustments and eliminations made in preparing an entity’s financial statements and allocations of revenue, expenses, and gains or losses shall be included in determining reported segment profit or loss only if they are included in the measure of the segment’s profit or loss that is used by the chief operating decision maker. As such, Parkland’s Adjusted EBITDA is unlikely to be comparable to similarly named measures presented by other issuers, who may calculate these measures differently. Parkland views Adjusted EBITDA as the key measure for the underlying core operating performance of business segment activities at an operational level. Adjusted EBITDA is used by management to set targets for Parkland (including annual guidance and variable compensation targets) and is used to determine Parkland’s ability to service debt, finance capital expenditures and provide for dividend payments to shareholders. See Section 14 of the Q3 2022 MD&A, which is incorporated by reference into this news release, for further details regarding total of segments measures used by Parkland. Refer to the table below for the reconciliation of Adjusted EBITDA to net earnings (loss) for the three months ended September 30, 2022 and September 30, 2021.

Reporting segments

Canada

Refining

International

USA

Corporate

Intersegment
Eliminations(4)

Consolidated

Sub-segments

Renewable

Conventional

Total

Renewable

Conventional

Total

Total Renewable

Sub-segment

Total Conventional

Sub-segment(5)

For the three months ended September 30,

2022

2021

2022

2021

2022

2021

2022

2021

2022

2021

2022

2021

2022

2021

2022

2021

2022

2021

2022

2021

2022

2021

2022

2021

2022

2021

Fuel and petroleum product volume (million litres)(1)

176

152

3,233

3,266

3,409

3,418

1,119

929

1,119

929

176

152

4,352

4,195

1,703

1,324

1,692

1,397

(856)

(834)

7,067

6,234

Sales and operating revenue

309

190

4,493

3,240

4,802

3,430

103

121

1,340

792

1,443

913

412

311

5,833

4,032

2,350

1,289

2,417

1,409

(1,114)

(798)

9,898

6,243

Sub-segment eliminations(2)

(309)

(190)

(66)

(71)

(375)

(261)

Sales and operating revenue – after eliminations

4,493

3,240

1,377

842

2,350

1,289

2,417

1,409

(1,114)

(798)

9,523

5,982

Cost of purchases

306

185

4,166

2,946

4,472

3,131

93

92

1,143

622

1,236

714

399

277

5,309

3,568

2,224

1,118

2,293

1,282

(1,114)

(798)

9,111

5,447

Sub-segment eliminations(2)

(309)

(190)

(66)

(71)

(375)

(261)

Cost of purchases – after eliminations

4,163

2,941

1,170

643

2,224

1,118

2,293

1,282

(1,114)

(798)

8,736

5,186

Fuel and petroleum product adjusted gross margin, before the following:

3

5

242

243

245

248

10

29

194

170

204

199

13

34

436

413

99

147

62

78

610

672

Gain (loss) on risk management and other – realized

10

7

11

(3)

21

4

(3)

17

(4)

14

(4)

7

7

28

(7)

65

(6)

(2)

100

(8)

Gain (loss) on foreign exchange – realized

(9)

(4)

(9)

(4)

(9)

(4)

(3)

(3)

(1)

(1)

(13)

(8)

Other adjusting items to adjusted gross margins(3)

2

2

2

(3)

(4)

(10)

1

3

(10)

(1)

Fuel and petroleum product adjusted gross margin

13

12

255

240

268

252

7

29

202

162

209

191

20

41

457

402

158

134

52

76

2

687

655

Food, convenience and other adjusted gross margin

85

51

85

51

3

3

88

51

27

24

62

49

177

124

Total adjusted gross margin

13

12

340

291

353

303

7

29

205

162

212

191

20

41

545

453

185

158

114

125

2

864

779

Operating costs

2

1

153

131

155

132

2

2

70

59

72

61

4

3

223

190

53

37

106

64

1

387

294

Marketing, general and administrative

58

38

58

38

5

4

5

4

63

42

25

21

27

18

32

24

147

105

Share in (earnings) loss of associates and joint ventures

(5)

(7)

(5)

(7)

Other adjusting items to Adjusted EBITDA

(1)

(1)

(1)

(4)

(4)

(1)

(5)

(5)

Adjusted EBITDA (loss) including NCI

11

11

129

123

140

134

5

27

130

99

135

126

16

38

259

222

116

111

(18)

43

(33)

(22)

340

392

Attributable to NCI

12

28

12

28

Adjusted EBITDA (loss) attributable to Parkland (”Adjusted EBITDA (loss)”)

11

11

129

123

140

134

5

27

130

99

135

126

16

38

259

222

104

83

(18)

43

(33)

(22)

328

364

Add: Adjusted EBITDA attributable to NCI

12

28

Less:

Acquisition, integration and other costs

45

12

Depreciation and amortization

202

152

Finance costs

87

61

(Gain) loss on foreign exchange – unrealized

(16)

(16)

(Gain) loss on risk management and other – unrealized

(1)

(2)

Other (gains) and losses

(88)

10

Other adjusting items

(5)

4

Income tax expense (recovery)

(2)

48

Net earnings (loss)

118

123

Less: Net earnings (loss) attributable to NCI

13

13

Net earnings (loss) attributable to Parkland

105

110

(1)

Fuel and petroleum product volume for renewable activities only includes fuel trading volumes and does not include volumes of low-carbon-intensity feedstocks used for co-processing and blending.

(2)

Represents elimination of transactions between Renewable and Conventional sub-segments within Canada and Refining.

(3)

Includes inter-segment sales and cost of purchases. See Note 13 of the Interim Condensed Consolidated Financial Statements.

(4)

Total of Conventional sub-segment is not a financial measure used by Parkland to evaluate performance and is not a Total of segment measure under NI 52-112. It is included in the table above for reconciliation purposes only

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2022 China-Central and North America and Caribbean International Trade Digital Expo Invitation Letter

BEIJING, Nov. 2, 2022 /PRNewswire-HISPANIC PR WIRE/– In order to further enhance the friendly exchanges between Chinese enterprises and countries in Central and North America and the Caribbean, and promote economic and trade exchanges and cooperation between enterprises, CCPIT- China Council for the Promotion of International Trade will hold the China-Central and North America and Caribbean International Trade Digital Expo online from November 9 to 18, 2022. China International Chamber of Commerce and ZhongZhan Information Cooperation Data Service Company will be responsible for organizing the exhibition. Details of the exhibition and registration methods are as follows.

2022 China—Central and North America and Caribbean International Trade Digital Expo

Basic information of the exhibition

Exhibition Name: China—Central and North America and Caribbean International Trade Digital Expo
Exhibition date: November 9-18, 2022
Exhibition venue: CCPIT Cloud Exhibition Platform
Website: https:// cna2022.ccpit-expo.com
Sponsor: China Council for the Promotion of International Trade
Organizer: China International Chamber of Commerce
Beijing ZhongZhan Information Cooperation Data Service Company

Exhibition content:

Textile clothing, automobiles and accessories, hardware and building materials, Riyo consumer goods, household appliances, consumer electronics, etc.

Exhibition supporting activities:

Registered enterprises can use live broadcast to promote products or display the company’s production lines on the special docking platform of the trade week to carry out business negotiations. The specific arrangements are as follows:

Industry

Date

Time (Beijing time)

Textile and Clothing and Cotton Products

2022.11.9

10:00-11:30

Autoparts

2022.11.10

10:00-11:30

Building Materials and Hardware

2022.11.11

10:00-11:30

Consumer Goods

2022.11.14

10:00-11:30

Home Appliances & Home Furniture

2022.11.15

10:00-11:30

Consumer Electronics

2022.11.16

10:00-11:30

Registration method:

This exhibition is an online digital exhibition, and you can register to participate / watch the exhibition free of charge. Exhibitors and professional buyers who are interested in participating in the exhibition are invited to log in to the official website of the exhibition for online registration. After successful registration, you can participate in online exhibitions, carry out interactions, and participate in special docking activities of the trade week.

Platform website is https:// cna2022.ccpit-expo.com

We warmly invite Chinese exhibitors and friends from all walks of life in Central and North America and the Caribbean to participate in the exhibition, negotiate trade and carry out various forms of economic and trade cooperation.

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Parkland Announces Date of 2022 Third Quarter Results

CALGARY, AB, Oct. 20, 2022 /PRNewswire-HISPANIC PR WIRE/ — Parkland Corporation (”Parkland”, “we”, the “Company”, or “our”) (TSX: PKI) expects to announce its 2022 third quarter results after markets close on Wednesday, November 2, 2022. A conference call and webcast will then be held at 6:30 a.m. MDT (8:30 a.m. EDT) on Thursday, November 3, 2022, to discuss the results.

Parkland Logo

To listen to the live webcast and watch the presentation, please use the following link: https://app.webinar.net/APvXEkv1p2a

Analysts and 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: 73952116). International participants may call 1-800-389-0704 (toll free) (Conference ID: 73952116).

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 www.sedar.com after the results are released.

About Parkland Corporation

Parkland’s purpose is to Power Journeys and Energize Communities. We serve essential needs in our communities, providing our customers with the fuels they depend on to get around, quality foods and convenience items, while helping them achieve their goals of lowering their environmental impact. Through our portfolio of trusted and locally relevant brands, we serve well over one million customers per day across Canada, the United States, the Caribbean region, and Central and South America.

In addition to leveraging our supply and storage capabilities to provide the fuels our diverse customers depend on; we are leading our customers through the energy transition. From electric vehicle charging, renewable fuels, solar energy and compliance and carbon offset trading, we are leaders in helping our customers lower their environmental impact.

Parkland’s proven strategy is centered around organic growth, our supply advantage, acquiring prudently, and integrating successfully. We are focused on developing our existing business in resilient markets, growing, and diversifying our retail business into food, convenience, and renewable energy solutions and helping our commercial customers decarbonize their operations. Our strategy is underpinned by our people, as well as our values of safety, integrity, community, and respect, which are deeply embedded across our organization.

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Parkland provides Q3 2022 business update and completes consolidation of its International Segment

CALGARY, Canada, Oct. 19, 2022 /PRNewswire-HISPANIC PR WIRE/ — Parkland Corporation (”Parkland”, “we”, the “Company”, or “our”) (TSX: PKI), today provided a third quarter business update. Driven by the macroeconomic environment and volatile product prices, third quarter results will be below our expectations. We are confident in our fourth quarter outlook and expect to deliver 2022 Adjusted EBITDA within our guidance range of between $1.6 billion and $1.7 billion.

Q3 2022 Business Update

We expect to deliver Adjusted EBITDA attributable to Parkland (”Expected Adjusted EBITDA”) of approximately $325 million in the third quarter. Primary drivers include:

  • USA: Rapidly declining market prices resulted in non-recurring wholesale inventory and risk management losses of approximately $65 million. These more than offset expected contributions from our retail and commercial businesses.
  • Refining: Composite utilization of approximately 95 percent was dampened by higher operating, natural gas, transportation and compliance costs, as well as higher trailing crude prices in a declining market. This temporarily lowered our capture of the record refining crack spreads to approximately 55 percent.
  • Canada: Falling product prices lowered fuel unit margins compared to the prior quarter. This partially offset steady retail fuel demand and strong non-fuel margins.
Confidence in Q4 Outlook

We remain confident in our outlook for the fourth quarter. In addition to significantly reducing third-party wholesale operations in the US, we anticipate:

  • Returning to a higher capture of refining crack spreads that is more consistent with historical rates.
  • A strong start to the tourist season in our Florida and International markets.
  • Traditionally high seasonal heating demand for our Canadian commercial business.

Parkland has completed its previously announced acquisitions and remains focused on integration, capturing synergies and reducing its leverage ratio.

Q3 2022 Business Update Conference Call and Webcast Details

Parkland will host a conference call and webcast on Wednesday, October 19, at 7:00 a.m. MDT (9:00 a.m. EDT) to discuss its third quarter business update. To listen to the live conference call and webcast, please use the following link: https://app.webinar.net/J2e0oMyorAM

Analysts and 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: 92624070). International participants may call 1-800-389-0704 (toll free) (Conference ID: 92624070).

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.

Parkland Completes Consolidation of its International Segment

Parkland has consolidated the ownership of its International Segment by completing the exchange of Simpson Oil Limited’s (”Simpson Oil”) 12.5 million shares in the capital of Sol Investments SEZC, representing Simpson Oil’s remaining 25 percent interest, for 20 million common shares in the capital of Parkland pursuant to the terms of the share exchange agreement between Simpson Oil and the Company dated August 4, 2022 (the “Share Exchange”). Parkland’s third quarter Estimated Adjusted EBITDA and full-year guidance is inclusive of Sol at 100 percent from August 4, 2022.

Additional details relating to the Share Exchange are described in the Company’s press release dated August 4, 2022, which is filed on SEDAR and available on the Parkland website at www.parkland.ca. Concurrently with completing the Share Exchange, the put and call options available to Simpson Oil and Parkland, respectively, with respect to the remaining 25 percent of shares of Sol Investments SEZC were terminated.

About Parkland Corporation

Parkland’s purpose is to Power Journeys and Energize Communities. We serve essential needs in our communities, providing our customers with the essential fuels they depend on to get around, quality foods and convenience items, while helping them achieve their goals of lowering their environmental impact. Through our portfolio of trusted and locally relevant brands, we serve well over one million customers per day across Canada, the United States, the Caribbean region and Central and South America.

In addition to leveraging our supply and storage capabilities to provide the essential fuels our diverse customers depend on; we are leading our customers through the energy transition. From electric vehicle charging, renewable fuels, solar energy and compliance and carbon offset trading, we are leaders in helping our customers lower their environmental impact.

Parkland’s proven strategy is centered around organic growth, our supply advantage, acquiring prudently, and integrating successfully. We are focused on developing our existing business in resilient markets, growing, and diversifying our retail business into food, convenience, and renewable energy solutions and helping our commercial customers decarbonize their operations. Our strategy is underpinned by our people, as well as our values of safety, integrity, community, and respect, which are deeply embedded across our organization.

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, Parkland’s Expected Adjusted EBITDA for the third quarter of 2022; Parkland achieving 2022 results within its 2022 Adjusted EBITDA guidance range; and Parkland’s outlook for the fourth quarter of 2022, including with respect to expected crack spread capture and expected USA and Canada segment operations.

Expected Adjusted EBITDA is considered a forward-looking measure of which the equivalent historical measure would be Adjusted EBITDA as defined in the Section 14A of Parkland’s Management’s Discussion and Analysis dated August 4, 2022 (”Q2 2022 MD&A”). Expected Adjusted EBITDA includes 100 percent of International results for the period from August 4, 2022, when Parkland entered into the share exchange agreement with Simpson Oil Limited to acquire the remaining 25 percent shares of Sol Investments SEZC, to September 30, 2022. Expected Adjusted EBITDA is a preliminary number and is subject to Parkland’s quarter-end financial close procedures and as a result, final third quarter Adjusted EBITDA may differ from Expected Adjusted EBITDA disclosed in this news release.

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: Parkland’s quarter-end financial close procedures; general economic, market and business conditions; competitive action by other companies; 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 Revised Annual Information Form dated March 17, 2022, and “Forward-Looking Information” and “Risk Factors” included in the Q2 2022 MD&A and the management discussion and analysis for the year ended December 31, 2021, dated March 3, 2022, 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.

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Vantage partners Financial Commission for greater transparency in external dispute resolution

SYDNEY, Oct. 7, 2022 /PRNewswire-HISPANIC PR WIRE/ – Vantage, the international multi-asset broker, today announces its partnership with the Financial Commission (FinaCom), an independent self-regulatory organisation and an external dispute resolution body for businesses operating in the forex and contracts for difference (CFD) markets.

With this new partnership, Vantage and its clients are able to access a wide range of services and membership benefits, such as the unbiased resolution process facilitated by FinaCom, and the protection of up to €20,000 per client, covered by the FinaCom’s compensation fund.

Vantage’s partnership with FinaCom brings together two organisations that are committed to holding the forex industry to the highest standards in business practices, for a more credible and transparent trading environment.

Marc Despallieres, Chief Strategy & Trading Officer at Vantage, says, “We’re extremely delighted to have partnered with the Financial Commission. We value our clients’ feedback and their trading experience with us, and we are pleased to have the support from a highly regarded external dispute resolution organisation like Finacom.”

“At Vantage, we take pride in building a business that is committed to doing what’s right, and being a trusted, regulated organisation that our clients and staff can be proud to be a part of.”

About Vantage

Vantage is a global, multi-asset broker offering clients access to a nimble and powerful service for trading CFDs on Forex, Commodities, Indices, and Shares.

With more than 10 years of market experience. Vantage now has over 1,000 employees across more than 30 global offices.

Vantage is more than a broker. It provides a trusted trading ecosystem, an award-winning mobile trading app, and a user-friendly trading platform that enables clients to take advantage of trading opportunities. Download the Vantage App on App Store or Google Play.

Be empowered to better capitalise on winning market opportunities when you trade smarter @vantage

About Financial Commission

The Financial Commission is an independent external dispute resolution organisation for traders who are unable to resolve disputes directly with their financial services providers . The Financial Commission initially set out to provide a new approach for traders and brokers alike to resolve any disputes which arise in the course of trading electronic markets such as Foreign Exchange, and then expanded into CFDs and related derivatives, in addition to certifying technology platforms used for trading.

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Gordon Brothers Appointed Exclusive Selling Agent for Jubilee Sailing Trust Limited’s Tall Ship Lord Nelson

CARIBPR WIRE, London, Oct. 04, 2022: Gordon Brothers, the global advisory, restructuring and investment firm, has been appointed as the exclusive selling agent for the tall ship Lord Nelson on behalf of Jubilee Sailing Trust Limited after the company was placed into Administration.

Gordon Brothers is managing the disposition of Lord Nelson and marketing it for sale to the international marine and yacht markets.

Lord Nelson was built in 1985 and is the first tall ship in the world designed to accommodate personnel of all physical abilities to sail alongside the ship’s crew. Between 2012 and 2014, the ship completed a circumnavigation of the world with a full complement of sailors of various abilities on board. Lord Nelson was used for training purposes on behalf of charitable organizations when the ship wasn’t sailing at various races and regattas.

“Lord Nelson presents prospective buyers within the marine and shipping industry a unique opportunity to purchase a ship designed to accommodate any individual who sails,” said Simon Bamford, Director, Commercial & Industrial at Gordon Brothers. “As we continue to grow within the marine, shipping and offshore markets, we leverage our in-house sector expertise backed by decades of asset experience for engagements like Lord Nelson.”

“We’re pleased to partner with Gordon Brothers on this engagement,” said Joint Administrator Richard Lewis of Grant Thornton UK LLP. “Given their many years of buying, selling and valuing assets, they were a natural choice to help us realise value for the benefit of the company’s creditors.”

For more information about Lord Nelson and ship specifications, please visit Gordon Brothers’ website: https://uk-assets.gordonbrothers.com/assets-for-sale/assets/t/tall-ship-lord-nelson

Gordon Brothers has established a dedicated marine services and valuations practice that leverages decades of experience buying, selling and valuing assets in the commercial and industrial economy across Australia, Brazil, Canada, the U.K., Europe, Japan and the U.S. The firm provides advisory services including fleet and vessel renewal analysis, disposition and investment strategies.

About Gordon Brothers
Since 1903, Gordon Brothers (www.gordonbrothers.com) has helped lenders, management teams, advisors and investors move forward through change. The firm brings a powerful combination of expertise and capital to clients, developing customized solutions on an integrated or standalone basis across four services areas: valuations, dispositions, financing and investment. Whether to fuel growth or facilitate strategic consolidation, Gordon Brothers partners with companies in the retail, commercial and industrial sectors to provide maximum liquidity, put assets to their highest and best use and mitigate liabilities. The firm conducts more than $100 billion worth of dispositions and appraisals annually and provides both short- and long-term capital to clients undergoing transformation. Gordon Brothers lends against and invests in brands, real estate, inventory, receivables, machinery, equipment and other assets, both together and individually, to provide clients liquidity solutions beyond its market-leading disposition and appraisal services. The firm is headquartered in Boston, with over 30 offices across five continents.

About Jubilee Sailing Trust Limited
On 26 August 2022, Richard Lewis and Sarah O’Toole of Grant Thornton were appointed Joint Administrators of Jubilee Sailing Trust Limited. The principal asset of the Company is the tall ship, Lord Nelson. The Company is a subsidiary of the charity Jubilee Sailing Trust (the Charity). The Charity operates another tall ship (Tenacious) via a separate subsidiary Jubilee Sailing Trust (Tenacious) Limited. Tenacious and Lord Nelson are the only tall ships in the world designed and built to be sailed by a truly mixed ability crew, including people with a wide variety of impairments and health conditions. For the avoidance of doubt, both the Charity and Jubilee Sailing Trust (Tenacious) Limited continue to trade and operate Tenacious.

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CHUCK E. CHEESE OPENS FIRST LOCATION IN SURINAME

Suriname location is brand’s first sub-franchised fun center

DALLAS, Sept. 27, 2022 /PRNewswire-HISPANIC PR WIRE/ — Chuck E. Cheese, the world’s #1 family entertainment restaurant brand has opened its doors in Suriname, their first location in the market.

Ribbon cutting for the first Chuck E. Cheese location in Suriname.

The newly operational fun center marks the first sub-franchised location in their already robust international franchise network.

“We are incredibly excited to have officially brought the Chuck E. Cheese brand and the inevitable family memories that come with it to the Suriname market,” says David McKillips, President and CEO of CEC Entertainment. “Our Master Franchisee and operator has done a fantastic job in localizing the concept and offering a unique experience for our newly welcomed guests in the area.” He continued, “Given the geographical separation of the Caribbean market, the Master Franchise agreement gives existing strong Franchise partners the autonomy to develop neighboring, smaller and yet culturally similar markets.”

“We are extremely proud to be the first Master Franchisee within the CEC Entertainment network,” said Joanna Rostant, Founder and Director of Yay Entertainment Limited, franchise holder for Trinidad and Tobago and Master Franchisee for Suriname, and Guyana. “We have taken our learnings of operating in Trinidad and Tobago for over eight years to our Caribbean neighbors, which allows us to export goods, services, and human expertise.”

Yay Entertainment Limited has teamed up with Blue Falcon NV (Suriname), to operate this concept for the Surinamese market. Sasja Lie Pauw Sam, CEO and owner of Blue Falcon, and his team is thrilled to start this venture into the entertainment and restaurant business. Based on vast experience in managing and operating retail & franchising concepts, he welcomes this new challenge for the Surinamese market. Blue Falcon will offer employment to about 75, all locally hired, and sustainable business opportunities to local vendors and suppliers, as supported by the franchise. “I see enormous potential for our market, as this combination of entertainment and food and its unparalleled execution, will serve well, as there is a gap in high quality offerings for families and kids.”

The new location is the first of its kind, offering over 11,000 sqft of family entertainment, including an interactive dance floor, two private party rooms and teen room, and the first Virtual Reality (VR) game in the region. The continued expansion of the brand outside of the U.S. is part of its commitment to reach 100 global locations by 2023. Chuck E. Cheese is continuing to pursue expansion through master franchising efforts across the globe and has several available markets open for international development across Asia, South America, and Europe.

For franchising interests or to learn more about how to bring the joy of Chuck E. Cheese to kids & families in more markets, please visit the all-new international franchising website (here). It is the central hub to discover all of the latest news and exciting growth plans.

About CEC Entertainment, Inc.

CEC Entertainment is the nationally recognized leader in family entertainment and dining with its Chuck E. Cheese, Peter Piper Pizza and, delivery only, Pasqually’s Pizza & Wings brands. As the place where a million happy birthdays are celebrated every year, Chuck E. Cheese’s goal is to create positive, lifelong memories for families through entertainment, food and play. Committed to providing a fun, safe environment, Chuck E. Cheese helps protect families through industry-leading programs such as Kid Check®. As a strong advocate for its local communities, Chuck E. Cheese has donated more than $19 million to schools through its fundraising programs. The Company and its franchisees operate a system of nearly 600 Chuck E. Cheese and 120 Peter Piper Pizza venues, with locations in 47 states and 18 foreign countries and territories. For more information, visit our website or connect with us on social media.

Chuck E. Cheese Logo

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Vantage wins three awards at the Global Forex Awards 2022

SINGAPORE, Sept. 23, 2022 /PRNewswire-HISPANIC PR WIRE/ – Vantage, the international multi-asset broker, has received three awards at the Global Forex Awards 2022 – Retail, organised by Holiston Media.

Stephen Solares and Raymond Okafor, Business Associates for Vantage, at the Global Forex Awards Ceremony, Limassol, Cyprus, on 22 September 2022

Vantage was recognised in three categories including the “Best Forex Mobile Trading Platform/App – Global”, “Best Forex Trade Execution – Global”, and “Most Trusted Forex Broker – Asia”.

The Global Forex Awards 2022 – Retail is in its fifth edition, and honours businesses that use cutting-edge technology, offer low-cost trading, comprehensive market research tools, advanced educational programs, and world-class customer service for retail traders.

Marc Despallieres, Chief Strategy & Trading Officer at Vantage, says “We are honoured to receive these awards at The Global Forex Awards 2022 – Retail. Vantage went through a massive shift since our rebranding exercise last year, and these awards are an affirmation of the direction we have taken as a business.”

“This is a celebration of the sheer hard work and determination of our team at Vantage, who have made Vantage what it is today. I would also like to take this opportunity to thank our clients who have supported us through the years, and who remain our biggest motivation to keep doing better.”

Lian Jie, Vantage’s Assistant App Marketing Director, says, “This is the fourth award garnered by our Vantage App team, and is a testament to the hours of development they have undertaken to make our app more powerful and intuitive than ever before.”

Since its rebrand, Vantage has received a number of industry recognised awards, including “Best in CFD trading 2022″ at the European – Global & Finance Awards 2022, “Best Broker Australia”, “Best Customer Support Australia”, and “Best Mobile Trading App” at the Ultimate Fintech Awards 2022.

About Vantage

Vantage is a global, multi-asset broker offering clients access to a nimble and powerful service for trading CFDs on Forex, Commodities, Indices, and Shares.

With more than 10 years of market experience. Vantage now has over 1,000 employees/personnel across more than 30 global offices.

Vantage is more than a broker. It provides a trusted trading ecosystem, an award-winning mobile trading app, and a faster and simpler trading platform that enables clients to take advantage of trading opportunities. Download the Vantage App on App Store or Google Play.

Be empowered to better capitalise on winning market opportunities when you

trade smarter @vantage

www.vantagemarkets.com

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