Posts Tagged ‘#Businessnews’

Latin America’s crypto conquest is driven by consumers needs

51% of consumers in Latin America have already made a transaction with cryptoassets.

Latin Americans desire flexibility and convenience in digital currencies and payments and are seeking more support from their financial institutions.

MIAMI, June 22, 2022 /PRNewswire-HISPANIC PR WIRE/ — The digital payments revolution that began during the pandemic is consolidating and driving Latin American interest in cryptocurrencies. 51% of consumers in the region have already made a transaction with cryptoassets and more than a third say they have made a payment for an everyday purchase with stablecoin, reveals Mastercard’s New Payments Index 2022, a survey conducted between March and April of this year among more than 35,000 people around the world.

The New Payments Index annually evaluates consumer behavior concerning emerging payment methods. In its second edition, the study shows that financial innovation -cryptocurrencies, DeFI solutions, blockchain, NFTs- registers significant activity in the region, with consumers eager to learn more about this ecosystem.

In Latin America, 54% percent of Latino consumers are optimistic about the performance of digital assets as an investment. Meanwhile, two-thirds of Latinos want greater flexibility to use crypto and traditional payment methods interchangeably in their day-to-day operations.

“More and more Latin Americans are showing interest in cryptocurrencies and want solutions that facilitate access to the crypto world. At Mastercard, we are designing these solutions to expand digital inclusion and strengthening alliances that guarantee operability and support”, said Walter Pimenta, executive vice president, Products and Engineering, Mastercard Latin America and the Caribbean.

The survey shows that consumers in Latin America and the Caribbean would feel more confident investing (69%) and making/receiving payments (67%) in cryptocurrencies if they were issued or backed by a trusted organization. Another 82% acknowledge that they would like to have cryptocurrency-related functions available directly from their current financial institution.

Digital payments, convenience and flexibility
Mastercard’s New Payments Index 2022 reveals that 86% of Latino consumers have used at least one emerging payment method in the past year. While 77% of Americans and 74% of Europeans prefer traditional payment methods to newer ones, Latinos are willing to use emerging methods such as biometrics, digital currencies and QR code, in addition to contactless payments.

“The future of payments is already here. Increasingly Latin Americans are turning to technology to conduct their financial transactions and this trend is expected to continue to rise, with an overwhelming 95% planning to use a digital payment method in the coming year and 29% acknowledging having used less cash in the past year”, added Pimenta.

Consumers in the region are familiar with fintechs and open banking, which allows them to conveniently manage their personal finances. Nearly 50% of Latin American consumers already use digital channels for financial activities and 78% of them are interested in flexible payment solutions that allow them, for example, to change the payment date of their bills, especially those with irregular incomes and millennials.

Biometric payments: security and convenience
When deciding which payment method to use, Latinos prioritize security (54%), but also look for the speed that financial technology offers. Biometrics is emerging as an option to find that balance between convenience and security. Three out of four Latinos say that “using biometric technologies for identity and payments is more secure than a PIN, password or another form of identification,” but concerns persist about which entities have access to their data.

People under 40 and millennials are more likely to perceive emerging digital solutions as secure. While they still use them, people who grew up in traditional banking are more wary, which is – for all players in the payments chain – an opportunity to build trust.

To learn more about this year’s New Payments Index, click here to Mastercard’s Newsroom.

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

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Dragonfly Fintech named finalist for the G20 TechSprint 2022 CBDC Challenge

SINGAPORE, June 20, 2022 /PRNewswire-HISPANIC PR WIRE/ — Dragonfly has won a place in the final round of the third G20 TechSprint global challenge. This year’s challenge focuses on central bank digital currency (CBDC) following Saudi’s 2020 RegTech and SupTech, and Italy’s 2021 Green Finance. This year’s competition is held as part of Indonesia’s G20 presidency which will culminate in the G20 Heads of State and Government Summit to be held in Bali in November 2022.

Dragonfly Fintech is an innovative fintech solution provider utilizing its proprietary blockchain platform to address clients’ unmet digital needs in the banking and capital markets, advancing the nascent neobanking industry globally. Tomorrow’s banking is here!

The G20 TechSprint global competition which is jointly organized by Bank Indonesia and Bank of International Settlement Innovation Hub focuses on the development and showcasing of retail and wholesale CBDC as a viable solution in three core areas: issuance, wholesale, retail, and distribution of CBDC; financial inclusion through the use of CBDC; and CBDC as an improved means of interoperability among participating sovereign payment systems.

“We are honored that we have been chosen as a finalist in the issuance, wholesale, retail, and distribution of the CBDC segment. We are about serving the future unmet needs of the industry with innovative blockchain powered solutions. This growth opportunity allows us to illustrate how Dragonfly simplifies digital banking covering the entire spectrum from monetary policy making to wholesale, settlement, and retail distribution in an interoperable system,” comments Lon Wong, Founder and CEO of Singapore-based Dragonfly Fintech.

Dragonfly is also excited about the increased visibility on the world stage as a cutting-edge Asian fintech leader first conceptualized in 2015, and is rapidly expanding its footprint worldwide to engage and support other central banks in making their CBDC vision a reality.

About Dragonfly Fintech

Dragonfly Fintech is an innovative fintech solution provider utilizing the ProximaX blockchain protocol to address clients’ unmet digital needs in the banking and capital markets, advancing the nascent neobanking and CBDC globally. Tomorrow’s banking, today!

For more information, please visit www.dfintech.com

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Channel Capital Cayman granted ‘Companies Management License’ by the Cayman Islands Monetary Authority

GEORGE TOWN, Cayman Islands, June 7, 2022 /PRNewswire-HISPANIC PR WIRE/ — Channel Capital Cayman, an offshore governance services business based in the Cayman Islands is pleased to announce that it has been issued with a Companies Management License by the Cayman Islands Monetary Authority (CIMA) and it is now offering its investment fund fiduciary services to investment vehicles domiciled in the Cayman Islands.

Mark Cook, Executive Director, Channel Capital Cayman

Located in the Cayman Islands and UK, each member of Channel Capital Cayman acts as a fund director and is regulated by CIMA. The team of directors initially includes Mark Cook, Carl Brenton and Katherine Youhanna, and offers decades of professional governance experience to select fund boards.

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

Executive Director at Channel Capital Cayman, Mark Cook, said: “The Cayman Islands remains by far the most popular jurisdiction for global hedge, private equity and infrastructure funds. The Cayman Islands Government and CIMA have developed a strong regulatory framework for the investment funds industry, and we are confident that the Cayman Islands will continue to be a leading funds jurisdiction.”

“Having been involved in the industry since 2008, we know first-hand the vast range of compliance and governance issues boards have to navigate. The independent director services we provide allows for a flexible and tailored approach to fund governance through each stage of an investment fund’s life cycle. Our platform ensures necessary compliance with regulation is satisfied but with an emphasis on reducing the administrative burden faced by those in the fund governance space and we look forward to expanding our team of likeminded fund directors,” said Mr Cook.

About Channel Capital

Established in 2013, Channel has 47 employees across Sydney, Brisbane, Melbourne and Grand Cayman, and currently partners with eight investment management firms. Channel provides incubation, distribution, operational and responsible entity services to a select group of investment management firms and their clients across the institutional, family office, high net worth and advisor-led investor space. Channel’s subsidiary entity, CIML, provides responsible entity services to a limited set of funds. https://www.channel.capital

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Enterprise Extends Global Reach with New Locations in the U.S. Virgin Islands, Morocco and the Bahamas

The international leader in car rentals will introduce its Enterprise Rent-A-Car, National Car Rental and Alamo Rent A Car brands to each new market

ST. LOUIS, June 2, 2022 /PRNewswire-HISPANIC PR WIRE/ – Enterprise Holdings, the world’s largest vehicle rental business, today announced new franchise locations in the U.S. Virgin Islands, Morocco and the Bahamas. Each of the three new markets will feature car rental options from the Enterprise Rent-A-CarNational Car Rental and Alamo Rent A Car brands.

Enterprise Holdings Corporate Brands Logo.

In the U.S. Virgin Islands, the company plans to open locations and provide service on the three main islands of St. Thomas, St. Croix and St. John, beginning with the buildout of a location at the Cyril E. King Airport in St. Thomas, the largest international airport in the U.S. Virgin Islands.

Expansion plans in the Bahamas include an initial location at the Lynden Pindling International Airport and one additional branch in Nassau. Another location will be added at the Grand Bahama International Airport in Freeport at a later date. In Morocco, plans include downtown locations in both Marrakech and Casablanca along with a presence at major airports.

“Over the past 10 years, we’ve executed an aggressive global growth plan designed to ensure our customers have greater access to the brands they know and love, no matter where they travel,” said Peter Smith, vice president of global franchising at Enterprise Holdings. “Franchisees appreciate the Enterprise standard of excellence and have transformed our business by helping us grow a significant international footprint. Around the corner, or around the world, Enterprise has you covered.”

With a presence in more than 90 countries and territories, Enterprise Holdings employs 75,000-plus global team members with a focus on becoming the best mobility provider in the world by listening to and exceeding customer expectations. The company partners with local providers that have a strong reputation for customer service excellence.

For more information about Enterprise Holdings, visit www.enterpriseholdings.com.

About Enterprise Holdings
Enterprise Holdings, Inc. is a leading provider of mobility solutions, owning and operating the Enterprise Rent-A-CarNational Car Rental and Alamo Rent A Car brands through its integrated global network of independent regional subsidiaries. Enterprise Holdings and its affiliates offer extensive car rental, carsharing, truck rental, fleet management, retail car sales, as well as travel management and other transportation services, to make travel easier and more convenient for customers. Privately held by the Taylor family of St. Louis, Mo., Enterprise Holdings manages a diverse fleet of more than 1.85 million vehicles through a network of nearly 10,000 fully staffed neighborhood and airport rental locations in more than 90 countries and territories.

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International CBI Units Put Extra Focus on Due Diligence Processes Amid Global Risks: CS Global Partners

CARIBPR WIRE, London, May 13, 2022:  The Financial Times’ Private Wealth Management (PWM) magazine has hosted a virtual panel discussion on the impact of global risks on countries with Citizenship by Investment (CBI) programmes.

As part of its PWM Perspectives series, the four-part panel discussion shares the views and insights of notable experts from major due diligence investigation agencies including Karen Kelly, director of strategy and development at Exiger; Eddy Leviton, chief operating officer at Fact WorldWide and Heyrick Bond Gunning, chief operating officer at S-RM.

In the last instalment, the panel moderated by Yuri Bender, editor in chief of Professional Wealth Management magazine, discusses how international CBI units are putting extra focus on due diligence processes amid global risks.

Global political risks are unfortunately a reality for many people across the world and investors across a number of jurisdictions are constantly looking for ways to distance themselves from restrictive regimes. This means that suitable safeguards need to be in place to ensure that the verification of applicants from territories deemed to be of higher risk which poses potential difficulties is of the strictest measures.

In response to this, Karen Kelly, director of strategy and development at Exiger says “Any risk needs to be viewed in context – whether its political exposure or jurisdictional risk. Each CBI country has their own risk appetite or threshold.”

“Intelligence agencies are not there to make decisions on behalf of countries as to who should or should not be approved but rather, they provide client countries with the facts and information needed to arm the CBI Units with the details they need to say this person is above or below the risk threshold we have for acceptance. It is important to also keep in mind that CBI Units will also consider the information they get from other sources such as law enforcement agencies.”

In response to Yuri Bender’s question of whether it is necessary to apply a deeper and enhanced due diligence process on high-risk applicants and a lighter version for others, Eddy Leviton, chief operating officer at Fact WorldWide says “We carry out the same stringent levels of investigations and checks for all applicants and dependents. We do not discriminate because when we get an application, we do not know whether that applicant will be high risk or low risk – whether they declare that they are wealthy or if they have managed to scrape enough money to purchase alternative citizenship, we apply the same verification and due diligence process to all applicants. We provide a risk profile to the client to enable them to make the ultimate decision.”

There is never a scenario where a ‘lighter’ version would be applied to an applicant when it comes to due diligence. All applicants undergo the same level of scrutiny, and should an applicant be flagged as high risk, additional due diligence will be applied.

A multi-layered due diligence system is an essential element of any successful CBI programme, as it combines internal government checks with research by specialist third-party due diligence firms and assessments by regional and international bodies. The rigour put around due diligence ensures that individuals of only the highest integrity are successful.

The Caribbean has been under immense pressure over the last few years – with deadly hurricanes increasing in number and tourism decreasing due to the pandemic. This has led some to believe that these jurisdictions sometimes ignore red flags instituted by pan-regional anti-crime bodies because they badly need the money.

Heyrick Bond Gunning, chief operating officer at S-RM says that these Caribbean nations are taking a “longer-term view in terms of the integrity of their programmes.”

“Caribbean nations have realised how vital CBI funds are to their economies and maintaining the integrity of the programmes is essential for the entire region. There’s no point in having a quick win if it will jeopardise their status, which could result in the banks not wanting to do business with them meaning the programmes fall over straight away anyway.

“Caribbean nations are working very hard to fix mistakes made in the past as they are acutely aware of the scrutiny they are under at the moment, and therefore we have not seen any problematic individuals being accepted into these programmes recently.”

When responding to how the COVID-19 pandemic has impacted the CBI industry and the due diligence which enables its functioning, Gunning adds, “There has been a huge reliance on tourism which has really dropped away over the last couple of years and that has certainly put a lot more pressure on the units.

“It’s important to note that the units have become a lot more focused on their processes and how they run themselves to become as efficient as possible so that they can ensure that they are making the most of opportunities in terms of the applicants presenting themselves, within that there hasn’t been a compromise on the due diligence as they understand how important a part it plays and they want to be able to hold their hands up and say ‘we have external third parties auditing all our applicants at least twice but usually three or four times when you bring in to play the security agencies or Organisation of Eastern Caribbean States (OECS) to ensure that there isn’t a compromise on due diligence.”

Proper due diligence practices show a nation’s commitment to ensuring that its programme remains transparent and effective at evaluating potential candidates for citizenship. It is, therefore, a measure of that programme’s integrity.

Increasingly, strict anti-terrorism and anti-money laundering legislation has prompted some governments to exclude applicants of certain nationalities from their programmes or to restrict funds transferred from certain jurisdictions, in order to ensure compliance with international sanctions.

A multi-layered due diligence system, rooted in law and subject to procedural rules and policies, is an essential element of any successful CBI programme, as it combines internal government checks with research by specialist third-party due diligence firms, and assessments by regional and international bodies. Failures in due diligence harm the reputation of a host country and its programme, and these failures often have widespread consequences for the entire industry.

Funds from CBI programmes often provide a vital source of income for some countries, especially in times of crisis – as is often the case for Caribbean countries devastated by hurricanes – these countries value the investment that goes into their economies as it allows them to be economically self-sustainable.

“Caribbean nations are some of the most transparent in terms of reporting on their due diligence processes which has positively impacted their brand and reputation in the international market,” adds Paul Singh, director at CS Global Partners – an international government marketing agency.

“We have been doing ongoing work to help countries realise the importance of protecting and enhancing not only their reputation in the international community but also ensuring that their citizens and applicants know that they are investing in reputable and trusted brands for their businesses and families.”

Professional Wealth Management, from the FT Group, is the premier resource for private banking and mutual fund coverage in Europe, Asia and beyond.

Watch the full four-episode PWM Perspectives series on due diligence here.

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Parkland announces plans to expand co-processing activities and build British Columbia’s largest renewable diesel complex

The environmental effect of the renewable fuels produced will equate to the permanent removal of approximately 700,000 or 25 per cent of the passenger vehicles on British Columbia’s roads

CALGARY, AB, May 9, 2022 /PRNewswire-HISPANIC PR WIRE/ – Parkland Corporation (”Parkland”, “we”, the “Company”, or “our”) (TSX: PKI) announced plans to increase renewable fuel production at its Burnaby Refinery in British Columbia. This is one of many steps we are taking to advance our commercial decarbonization strategy and provide our customers with a portfolio of low carbon products and services to help them meet their low carbon goals. Today’s announced plans include:

  • building on our track record of innovation and leadership, by expanding our existing co-processing volumes to approximately 5,500 barrels per day, and
  • building a stand-alone renewable diesel complex, within the Burnaby Refinery capable of producing approximately 6,500 barrels per day of renewable diesel.

Renewable fuels produced through these plans will have one eighth of the carbon intensity of conventional fuels. They will reduce related greenhouse gas emissions by approximately 2 megatonnes per year. In addition, Parkland is designing the stand-alone renewable diesel complex to ensure it does not increase emissions from the Burnaby Refinery. Today’s announcement follows collaboration with the Government of British Columbia (”BC”) and supports the Government’s ambition to achieve net-zero emissions by 2050.

We currently estimate that these projects will require an investment of approximately $600 million, with the majority of capital investment expected to be deployed in 2024 and 2025. Parkland has received BC Government support for over 40 per cent of the project costs in the form of BC Low-Carbon Fuel Standard Compliance Credits.

“I applaud the Government of British Columbia for their vision and support of these innovative projects,” said Bob Espey, President & Chief Executive Officer. “This announcement advances our decarbonization strategy and our commitment to provide customers with low carbon choices which help them meet their environmental goals. Renewable fuels play a critical role in Canada’s climate ambitions by enabling customers to reduce their carbon footprint using their existing vehicle.”

“Parkland’s plans to increase our province’s renewable fuel capabilities support our Clean BC targets,” said The Hon. Bruce Ralston, Minister of Energy, Mines and Low Carbon Innovation. “This is a big step forward in our transition to a lower-carbon economy. Harnessing Parkland’s technical expertise and infrastructure to lower the environmental impact of our transportation is something we can be proud of. When combined with BC’s other sources of renewable power and efforts to electrify the passenger vehicle fleet, we continue to set the bar for Canada.”

These plans will have a positive impact on employment in British Columbia and are expected to directly create up to 1,000 high-quality, family sustaining jobs during the construction phase. Following stakeholder consultation, we aim to make a final investment decision in the second half of 2023, with production expected to commence in 2026. We are currently assessing the feasibility and availability of financial support to produce Sustainable Aviation Fuel (”SAF”) as part of these plans, in support of decarbonizing Canada’s aviation sector.

About Parkland

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.

Forward Looking Statement

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; plans to expand our co-processing capability to approximately 5,500 barrels per day; plans to build British Columbia’s largest renewable diesel complex capable of producing approximately 6,500 barrels per day of renewable diesel; the environmental effects of the renewable fuels produced through these plans, including equating to removing approximately 700,000 or 25 per cent of the passenger vehicles on British Columbia’s roads, having one eighth of the carbon-intensity of conventional fuels, reducing related greenhouse gas emissions by approximately 2 megatonnes per year and ensuring Parkland does not increase emissions from the Burnaby Refinery; the estimated required investment for these projects and the timing of the deployment thereof; the impact of these plans on the Government’s ambition to achieve net-zero emissions by 2050 and Clean BC targets; the impact of these plans on employment and job opportunities in British Columbia; details with respect to stakeholder consultation and making a final investment decision, including the timing thereof, and expected timing of commencing production; and Parkland’s commercial decarbonization strategy and its commitment to provide customers with low carbon choices.

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: ability to execute and realize all or any of the anticipated benefits of expanding its co-processing activities and building a stand-alone renewable diesel complex; ability to fund these projects; the receipt of necessary approvals and support by third parties; 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 Q1 2022 MD&A dated May 4, 2022 and the Q4 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.

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Vantage and McLaren MX Extreme E Team launches Mother’s Day Campaign featuring McLaren’s first female driver

SINGAPORE, May 6, 2022 /PRNewswire-HISPANIC PR WIRE/ – Vantage, the international multi-asset broker, together with McLaren MX Extreme E Team, has unveiled its latest Mother’s Day video campaign celebrating the supportive female role models who helped to shape McLaren’s first female driver, Emma Gilmour.

The video features New Zealand-born Gilmour, and pays tribute to her mother who made her journey easier.

From being the first and only woman to date to win a Rally World Championship event in 2016, to becoming McLaren Racing’s first female driver competing in the Extreme E championship series, Gilmour is fully cognisant of her position as a female role model in a male-dominated world, and credits her mother’s unwavering support for her success.

“My mother has been one of my biggest supporters,” says Gilmour. “She was there for all of my accomplishments, and my disappointments. She encouraged me to pursue my dreams and helped me to achieve them in every way she could. On this day and every day, I thank her for all her unlimited love and support.”

“In our pursuit for an ideal future, women have always been the most crucial piece of the puzzle. This is our small way of showing our appreciation for the most important women in our lives – our mothers,” says Marc Despallieres, Chief Strategy and Trading Officer, Vantage.

Despallieres explains that the multi-year partnership between Vantage and McLaren MX Extreme E Team was cemented on the shared values of sustainability and diversity, as well as gender equality, inclusion and representation, all while championing for and advocating climate change awareness.

“At Vantage, we have remained steadfast in our commitment to supporting, educating, and empowering the women among us, and we desire to continue to do so for the long term.”

About Vantage

Vantage is a global, multi-asset broker headquartered in Sydney, Australia. It offers clients access to a robust and efficient service for trading CFDs on Forex, Commodities, Indices, and Shares.

With more than 10 years of market experience, Vantage has built a global team with over 1,000 staff, spread over 30 offices located in APAC, Australasia, MENA, and the UK. It has built a reputation for delivering high standards of trading to clients of all sizes, by providing a trusted trading ecosystem that enables clients to achieve their own success, in a faster and simpler manner.

As a licensed and regulated entity in Australia, the UK, and the Cayman Islands, customer trust is of paramount importance. To safeguard clients’ interests, Vantage adopts a no-nonsense approach to compliance in all the markets they operate.

Vantage is more than just a broker. Its human-centric service seamlessly connects clients – from the individual to the institutional – to the right tools, resources, and support.

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

About McLaren Racing

McLaren Racing was founded by New Zealand racing driver Bruce McLaren in 1963. The team entered its first Formula 1 race in 1966, since then McLaren has won 20 Formula 1 world championships, more than 180 Formula 1 grands prix, the Indianapolis 500 three times, and the Le Mans 24 Hours at its first attempt.

The team competes in the FIA Formula 1 World Championship with Lando Norris and Daniel Ricciardo, the NTT INDYCAR Series with Arrow McLaren SP drivers Pato O’Ward and Felix Rosenqvist, and the Extreme E Championship with Emma Gilmour and Tanner Foust.

McLaren was the first F1 team to be awarded the Carbon Trust Standard in 2010 and has retained it since on a bi-annual basis, most recently in February 2021. The team was also the first in F1 to be given the FIA Sustainability Accreditation Award at a three-star level in 2013 as part of the FIA Environmental Certification framework, before becoming a signatory to the UN Sports for Climate Action Commitment in 2021.

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Parkland Corporation Announces the Results of the 2022 Annual General Meeting of Shareholders

CALGARY, AB, May 6, 2022 /PRNewswire-HISPANIC PR WIRE/ — Parkland Corporation, (”Parkland”, “We”, the “Company”, or “Our”) (TSX: PKI) held its annual general meeting of shareholders on May 5, 2022 (the “Meeting”).

Parkland Logo (CNW Group/Parkland Corporation)

The Company is pleased to announce that all ten of the nominees listed in its management information circular dated March 25, 2022 (the “Information Circular”) were elected as directors of the Corporation and PricewaterhouseCoopers LLP, Chartered Accountants, was reappointed as Parkland’s auditor at the Meeting.

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

Resolution 1

Election of directors of Parkland for the ensuing year.

Nominee

Votes For

%For

Votes Withheld

%Withheld

John F. Bechtold

69,559,297

98.29%

1,213,403

1.71%

Lisa Colnett

68,708,391

97.08%

2,064,309

2.92%

Robert Espey

70,638,802

99.81%

133,898

0.19%

Tim W. Hogarth

68,645,703

96.99%

2,126,997

3.01%

Richard Hookway

69,628,364

98.38%

1,144,336

1.62%

Angela John

70,628,630

99.80%

144,070

0.20%

Jim Pantelidis

68,409,931

96.66%

2,362,769

3.34%

Steven Richardson

67,676,971

95.63%

3,095,729

4.37%

David A. Spencer

63,034,974

89.07%

7,737,726

10.93%

Deborah Stein

67,910,704

95.96%

2,861,996

4.04%

Resolution 2

The reappointment of PricewaterhouseCoopers LLP, Chartered Accountants, as auditor of Parkland for the fiscal year ending December 31, 2022.

Votes For

70,545,377

99.24%

Votes Withheld

537,255

0.76%

Resolution 3

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

Votes For

62,564,610

88.40%

Votes Against

8,208,090

11.60%

Voting results for all matters have been posted on SEDAR.

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.

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Parkland delivers record quarterly results

CALGARY, AB, May 4, 2022 /PRNewswire-HISPANIC PR WIRE/ — Parkland Corporation (”Parkland”, “we”, the “Company”, or “our”) (TSX: PKI), a leading international food and convenience store operator, independent supplier and marketer of fuel and petroleum products and leader in renewable energy, announced today its financial and operating results for the three months ended March 31, 2022. Highlights include:

Q1 2022 Highlights

  • Adjusted EBITDA attributable to Parkland (”Adjusted EBITDA”)1 of $387 million, up 23 percent year-over-year underpinned by the impact of acquisitions, consistent operating performance, continued organic growth in our marketing business, strong supply performance and robust margins.
  • Net earnings attributable to Parkland (”net earnings”) of $55 million, or $0.36 per share, basic, an increase of 90 percent from prior year and Adjusted earnings attributable to Parkland (”Adjusted earnings”)1 of $136 million, or $0.88 per share, basic, up approximately 48 percent year-over-year.
  • Trailing twelve months (”TTM”) distributable cash flow per share1 of $4.73, an increase of approximately 9 percent relative to Q1 2021.
  • Cash used in operating activities of $48 million, compared to cash generated from operating activities of $264 million, down $312 million year-over-year, driven by a working capital outlay of $436 million related to increasing commodity prices.
  • Continued to strengthen our customer proposition with the close of the previously announced acquisitions of Crevier and M&M Food Market.
  • Fuel volumes of approximately 7 billion liters, up over 26 percent from Q1 2021, reflecting the impact of acquisitions, growing customer demand for essential fuels and ongoing economic recovery from COVID.
  • Continued to expand our ON the RUN convenience brand with 37 additional locations and attracted 300,000 new members to our JOURNIE™ Rewards loyalty program.
  • Generated $25 million of Total Renewable Adjusted EBITDA1 and accomplished a world first by co-processing tall oil to create renewable fuels at the Burnaby refinery. In addition to demonstrating our leading position in co-processing, tall oil further diversifies our bio-feedstock supply chain.

______________________________________

1

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

“Our first quarter results demonstrate the strength of our strategy,” said Bob Espey President and Chief Executive Officer. “We grew our marketing business by integrating recent acquisitions and leveraging our supply advantage.”

“We continue to prioritize organic growth initiatives, integrate and capture synergies from recent acquisitions and are confident we can achieve the high end of our 2022 Adjusted EBITDA guidance,” added Espey. “I am proud of the Parkland team who are dedicated to powering our customers’ journeys and energizing the communities we serve.”

Q1 2022 Segment Highlights

To align with strategic initiatives and provide greater visibility into our operations, we have made several enhancements to our reporting disclosures. To align with USA and International segment reporting, the Canada segment now includes its respective supply, trading and wholesale activities. The Burnaby refinery results can be found in a new Refining segment. In addition, Total Renewable Adjusted EBITDA and the results of our Retail and Commercial lines of business are separately disclosed. For comparative purposes, prior period information has been restated and reclassified to conform to the presentation used in the current period.

  • Canada delivered Adjusted EBITDA2 of $191 million, up 28 percent, from Q1 2021 ($149 million). Performance was underpinned by strong margins, increasing fuel volumes, the close of our previously announced acquisitions (Crevier and M&M Food Market), and organic growth. Food and Company C-Store Same Store Sales Growth2 (”SSSG”) (excluding cigarettes) was 1.7 percent. We opened 37 new ON the RUN stores and welcomed an additional 300,000 customers to our JOURNIE™ Rewards loyalty program, bringing total members to 3.2 million.
  • International delivered Adjusted EBITDA of $82 million, up 22 percent, from Q1 2021 ($67 million). Performance was underpinned by fuel volume growth primarily driven by a recovery in tourism (aviation) and wholesale, contribution from our previously announced acquisition in St. Maarten, and supply synergies from our Isla joint venture in Dominican Republic.
  • USA delivered Adjusted EBITDA of $47 million, up 147 percent, from Q1 2021 ($19 million). Performance was underpinned by prior year acquisitions and related synergies, strong margins, higher marine fuel demand and new cruise ship contracts. Margin improvements helped mitigate the impact of inflation.
  • Refining delivered Adjusted EBITDA2 of $89 million, down 8 percent, from Q1 2021 ($97 million). Utilization3 of 92.2 percent (Q1 2021 – 91.0 percent) and a stronger margin was offset by higher operating costs.

__________________________________________

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

Sustainability Leadership

Sustainability is deeply embedded across our business. Our ‘Drive to Zero’ strategy includes our goals to achieve zero safety incidents, zero spills, zero tolerance for racism and discrimination, zero tolerance for corruption, bribery, and unethical behaviour and to help our governments achieve their goal of net-zero emissions by 2050. Notable accomplishments from the first quarter include:

  • Improving our TTM lost time injury frequency rate4 to 0.14 (Q1 2021 – 0.25) and TTM total recordable injury frequency rate4 to 1.19 (Q1 2021 – 1.22), reflecting our continued focus on safety.
  • Delivering a world first, by co-processing tall oil in a fluid catalytic cracker without pretreatment to produce renewable fuels with approximately one eighth of the carbon intensity of regular fuels (tall oil is a waste product from the pulp and paper industry).
  • Co-processing over 20 million litres of bio-feedstocks, which has the equivalent impact of taking over 16,000 cars off the road.
  • Generating $25 million of Total Renewable Adjusted EBITDA.
  • Advancing our plans to launch the largest (by site count) electric vehicle ultra-fast charger network in British Columbia, which is expected to open to customers in 2022.

___________________________________

4Non-Financial Measure. See “Non-Financial Measures” section of this news release.

Consolidated Financial Overview

($ millions, unless otherwise noted)

Three months ended March 31,

Financial Summary

2022

2021

Fuel and petroleum product volume (million litres)

6,972

5,523

Sales and operating revenue(2)

7,606

4,226

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

387

314

Canada(2)(3)(4)

191

149

International

82

67

USA(1)(3)

47

19

Refining(1)(2)(3)(4)

89

97

Corporate(3)

(22)

(18)

Net earnings (loss) attributable to Parkland

55

29

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

0.36

0.19

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

0.35

0.19

Adjusted earnings (loss) attributable to Parkland (”Adjusted earnings”)(5)

136

92

Adjusted earnings (loss) per share – basic ($ per share)(5)

0.88

0.61

Adjusted earnings (loss) per share – diluted ($ per share)(5)

0.87

0.61

TTM Distributable cash flow(5)

724

646

TTM Distributable cash flow per share(5)

4.73

4.34

Dividends

49

47

Dividends per share(6)

0.3141

0.3053

Weighted average number of common shares (million shares)

155

150

Total assets

12,844

9,592

Non-current financial liabilities

6,846

4,311

(1)

The supply and trading business in the United States, formerly presented in the Supply segment (now Refining), is now included in the USA segment, reflecting a change in organizational structure in the first three months of 2021.

(2)

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. For comparative purposes, information for the three-months ended March 31, 2021 was restated due to a change in segment presentation. The supply, wholesale and logistics businesses, formerly presented in the Supply segment, are now included in the Canada segment, reflecting a change in organizational structure in the first three months of 2022. Following the change, the Supply segment has been renamed to “Refining” as it only includes the results of the Burnaby refinery. This change better aligns Canada results with those of USA and International which carry supply businesses within their respective divisions.

(3)

Certain amounts in the comparative period were also restated and reclassified to conform to the presentation used in the current period with respect to the allocation of Corporate costs.

(4)

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

(5)

Non-GAAP financial measure or non-GAAP financial ratio. See “Specified Financial Measures” section of this news release.

(6)

Supplementary financial measure. See “Specified Financial Measures” section of this news release.

Q1 2022 Conference Call and Webcast Details

Parkland will host a webcast and conference call on Thursday, May 5, 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://produceredition.webcasts.com/starthere.jsp?ei=1544615&tp_key=5bc5cc6104

Analysts and institutional investors interested in participating in the question and answer session of the conference call may do so by calling 1-888-390-0605 (toll-free) (Conference ID: 22960035). International participants can call 1-800-389-0704 (toll-free) (Conference ID: 22960035).

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 months ended March 31, 2022 (the “Q1 2022 MD&A”) and consolidated financial statements for the three months ended March 31, 2022 (the “Q1 2022 Consolidated Financial Statements”) provide a detailed explanation of Parkland’s operating results for the three months ended March 31, 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 version of the Q1 2022 MD&A and Consolidated Financial Statements will be posted to www.parkland.ca and SEDAR as soon as they become available.

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, business objectives and strategies, Parkland’s ability to meet the high end of its 2022 Adjusted EBITDA guidance; Parkland’s ESG goals and targets; expected benefits and synergies to be derived from acquisitions; and Parkland’s ability to advance its growth agenda.

These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These forward-looking statements speak only as of the date of this news release. Parkland does not undertake any obligations to publicly update or revise any forward-looking statements except as required by securities law. Actual results could differ materially from those anticipated in these forward-looking statements as a result of numerous risks, assumptions and uncertainties including, but not limited to, general economic, market and business conditions, including the duration and impact of the COVID-19 pandemic; Parkland’s ability to execute its business strategies, including without limitation, Parkland’s ability to consistently identify accretive acquisition targets and successfully integrate them, successfully implement organic growth initiatives and to finance such acquisitions and initiatives on reasonable terms; Parkland’s ability to grow its supply advantage by leveraging its scale and infrastructure; Parkland’s ability to achieve its goals and targets relating to its “Drive to Zero” sustainability; 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 Q1 2022 MD&A dated May 4, 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 IFRS measures, and may not be comparable to similar measures presented by other issuers, as other issuers may calculate these metrics differently. See Section 14 of the Q1 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 (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 Q1 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. These non-GAAP financial measures and ratios 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 Q1 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 March 31, 2022 and March 31, 2021.

Three months ended March 31,

($ millions, unless otherwise stated)

2022

2021

Net earnings (loss) attributable to Parkland

55

29

Add: Net earnings (loss) attributable to NCI

13

7

Net earnings (loss)

68

36

Add:

Acquisition, integration and other costs

13

5

Loss on modification of long-term debt

24

(Gain) loss on foreign exchange – unrealized

6

4

(Gain) loss on risk management and other – unrealized

11

5

Other (gains) and losses(1)

72

45

Other adjusting items(2)

6

(1)

Tax normalization(3)

(26)

(18)

Adjusted earnings (loss) including NCI

150

100

Less: Adjusted earnings (loss) attributable to NCI

14

8

Adjusted earnings (loss)

136

92

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

155

150

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

156

152

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

Basic

0.88

0.61

Diluted

0.87

0.61

(1)

Other (gains) and losses for the three months ended March 31, 2022, include the following: (i) $4 million non-cash valuation loss (2021 – $8 million non-cash valuation gain) due to the change in redemption value of Sol Put Option; (ii) $86 million non-cash valuation loss (2021 – $59 million non-cash valuation loss) due to the change in fair value of redemption options; (iii) $18 million gain (2021 – $6 million gain) in Other items. Refer to Note 12 of the Q1 2022 Consolidated Financial Statements.

(2)

Other Adjusting Items for the three months ended March 31, 2022 include the share of depreciation and income taxes for the Isla joint venture of $4 million (2021 – nil).

(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, and debt modifications. The tax impact was estimated using the effective tax rates applicable to jurisdictions where the related items occur.

(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

March 31,
2022

($ millions, unless otherwise noted)

June 30,
2021

September 30,
2021

December 31,
2021

March 31,
2022

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

322

200

118

(48)

592

Exclude: Adjusted EBITDA attributable to NCI, net of tax

(21)

(26)

(22)

(26)

(95)

301

174

96

(74)

497

Reverse: Change in other liabilities and other assets(2)

(9)

4

8

(2)

1

Reverse: Net change in non-cash working capital(2)

22

119

148

436

725

Include: Maintenance capital expenditures attributable to Parkland

(45)

(40)

(112)

(29)

(226)

Exclude: Turnaround maintenance capital expenditures

3

8

11

Include: Proceeds on asset disposals

1

4

4

1

10

Reverse: Acquisition, integration and other costs

11

12

24

13

60

Include: Interest on leases and long-term debt

(54)

(56)

(59)

(64)

(233)

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

1

1

1

1

4

Include: Payments on principal amount on leases

(33)

(36)

(38)

(37)

(144)

Exclude: Payments on principal amount on
leases attributable to NCI

4

5

5

5

19

Distributable cash flow

199

190

85

250

724

Weighted average number of common shares (million shares)

153

Distributable cash flow per share

4.73

(1)

Supplementary financial measure. See “Specified Financial Measures” section of this news release.

(2)

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”.

Three months ended

Trailing twelve

months ended

March 31,
2021

($ millions, unless otherwise noted)

June 30,
2020

September 30,
2020

December 31,
2020

March 31,
2021

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

629

253

(40)

264

1,106

Exclude: Adjusted EBITDA attributable to NCI, net of tax

(15)

(24)

(20)

(23)

(82)

614

229

(60)

241

1,024

Reverse: Change in other liabilities, other assets and other instruments

(3)

27

12

(14)

22

Reverse: Net change in non-cash working capital

(425)

89

288

53

5

Include: Maintenance capital expenditures attributable to Parkland

(50)

(18)

(39)

(20)

(127)

Exclude: Turnaround maintenance capital expenditures

16

1

2

19

Include: Proceeds on asset disposals

5

2

6

5

18

Reverse: Acquisition, integration and other costs

8

9

14

5

36

Include: Interest on leases and long-term debt

(59)

(59)

(56)

(54)

(228)

Exclude: Interest on leases and long-term debt attributable to NCI(3)

1

1

1

3

Include: Payments on principal amount on leases

(35)

(40)

(35)

(35)

(145)

Exclude: Payments on principal amount on
leases attributable to NCI

5

6

4

4

19

Distributable cash flow(4)

76

247

137

186

646

Weighted average number of common shares (million shares)

149

Distributable cash flow per share

4.34

(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)

Supplementary financial measure. See “Specified Financial Measures” section of this news release.

(3)

Beginning September 30, 2020, interest on leases and long-term debt attributable to NCI is excluded from distributable cash flow.

(4)

Prior to March 31, 2021, distributable cash flow and the dividend payout ratio were referred to as adjusted distributable cash flow and adjusted dividend payout ratio, respectively. The previous measures were consolidated to a single primary measure representing Parkland’s ability to generate cash flows.

Food and Company C-Store SSSG refers to the period-over-period sales growth generated by retail convenience stores at the same company sites. The effects of opening and closing stores, temporary closures (including closures for ON the RUN / Marché Express conversions), expansions, renovations, and changes in food service models in the period are excluded to derive a comparable same-store metric. Same-store sales growth is a metric commonly used in the retail industry that provides meaningful information to investors in assessing the health and strength of Parkland’s brands and retail network, which ultimately impacts financial performance. Food and Company C-Store SSSG does not have any standardized meaning under IFRS and is therefore unlikely to be comparable to similar measures presented by other companies. See below for a reconciliation of convenience store revenue of the Canada segment with the Food and C-Store Same Store Sales (”SSS”) and calculation of the Food and Company C-Store SSSG.

Three months ended March 31,

($ millions)

2022

2021

%(1)

2021

2020

%(1)

Food and Company C-Store revenue

100

92

92

89

Add:

Point-of-sale (”POS”) value of goods and services sold at Food and Company
C-Store operated by retailers and franchisees(2)

130

129

130

121

Less:

Rental and royalty income from retailers, franchisees and others(3)

(25)

(24)

(24)

(24)

Same Store revenue adjustments(4)(5) (excluding cigarettes)

(25)

(7)

(5)

(3)

Same Store Food and Company C-Store Sales

180

190

(5.5)%

193

183

5.5%

Less:

Same Store revenue adjustments(4)(5) (cigarettes)

(91)

(103)

(104)

(102)

Same Store Food and Company C-Store Sales (excluding cigarettes)

89

87

1.7%

89

81

10.2%

(1)

Percentages are calculated based on actual amounts and are impacted by rounding.

(2)

POS values used to calculate Food and Company C-Store SSSG are not a Parkland financial measure and do not form part of Parkland’s consolidated financial statements.

(3)

Includes rental income from retailers in the form of a percentage rent on Food and Company C-Store sales, royalty, franchisee fees and excludes revenues from automated teller machine, POS system licensing fees, and others.

(4)

This adjustment excludes the effects of acquisitions, opening and closing stores, temporary closures (including closures for On the Run / Marché Express conversions), expansions of stores, renovations of stores, and stores with changes in food service models, to derive a comparable same-store metric.

(5)

Excludes sales from the businesses acquired in 2022 as these will not impact the metric until after the completion of one year of the acquisitions in 2023 as the sales or volume generated in 2022 establish the baseline for these metrics.

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 Q1 2022 MD&A, which is incorporated by reference into this news release, for further details regarding supplementary financial 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 Q1 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 March 31, 2022 and March 31, 2021.

Reporting segments

Canada

Refining

International

USA

Corporate

IntersegmentEliminations(3)

Consolidated

Sub-segments

Renewable

Conventional

Total

Renewable

Conventional

Total

Total Renewable

Sub-segment

Total Conventional

Sub-segment(4)

For the three months ended March 31,

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)

120

80

3,300

3,044

3,420

3,124

979

804

979

804

120

80

4,279

3,848

1,524

1,229

1,860

1,086

(811)

(720)

6,972

5,523

Sales and operating revenue

121

66

3,731

2,332

3,852

2,398

73

56

1,003

554

1,076

610

194

122

4,734

2,886

1,722

1,004

2,018

892

(878)

(557)

7,790

4,347

Sub-segment eliminations(2)

(121)

(66)

(63)

(55)

(184)

(121)

Sales and operating revenue – after eliminations

3,731

2,332

1,013

555

1,722

1,004

2,018

892

(878)

(557)

7,606

4,226

Cost of purchases

109

62

3,354

2,031

3,463

2,093

54

24

798

436

852

460

163

86

4,152

2,467

1,470

835

1,840

813

(878)

(557)

6,747

3,644

Sub-segment eliminations(2)

(121)

(66)

(63)

(55)

(184)

(121)

Cost of purchases – after eliminations

3,342

2,027

789

405

1,470

835

1,840

813

(878)

(557)

6,563

3,523

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

12

4

317

253

329

257

19

32

203

117

222

149

31

36

520

370

229

147

129

48

909

601

Gain (loss) on risk management and other – realized

(3)

1

(4)

(3)

(3)

(70)

(5)

(70)

(5)

(3)

1

(70)

(9)

(92)

(32)

(18)

(5)

(183)

(45)

Gain (loss) on foreign exchange – realized

1

(1)

1

(1)

2

3

2

3

1

2

2

2

3

3

4

8

9

Other adjusting items to adjusted gross margin

(2)

(2)

Fuel and petroleum product adjusted gross margin

10

5

317

248

327

253

19

32

135

115

154

147

29

37

452

363

139

118

111

43

3

2

734

563

Food, convenience and other adjusted gross margin

60

48

60

48

2

1

2

1

62

49

23

22

49

31

134

102

Total adjusted gross margin

10

5

377

296

387

301

19

32

137

116

156

148

29

37

514

412

162

140

160

74

3

2

868

665

Operating costs

1

1

149

119

150

120

2

2

61

46

63

48

3

3

210

165

40

34

84

42

337

244

Marketing, general and administrative

1

1

46

31

47

32

4

3

4

3

1

1

50

34

23

19

29

13

25

20

128

87

Share in (earnings) loss of associates and joint ventures

(5)

(2)

(5)

(2)

Other adjusting items to Adjusted EBITDA

(1)

(1)

(1)

(5)

(1)

(6)

(1)

Adjusted EBITDA including NCI

8

3

183

146

191

149

17

30

72

67

89

97

25

33

255

213

109

90

47

19

(22)

(18)

414

337

Attributable to NCI

27

23

27

23

Adjusted EBITDA attributable to Parkland (”AdjustedEBITDA”)

8

3

183

146

191

149

17

30

72

67

89

97

25

33

255

213

82

67

47

19

(22)

(18)

387

314

Add: Adjusted EBITDA attributable to NCI

27

23

Less:

Acquisition, integration and other costs

13

5

Depreciation and amortization

155

154

Finance costs

70

83

(Gain) loss on foreign exchange – unrealized

6

4

(Gain) loss on risk management and other – unrealized

11

5

Other (gains) and losses

72

45

Other adjusting items(2)

6

(1)

Income tax expense (recovery)

13

6

Net earnings (loss)

68

36

Less: Net earnings (loss) attributable to NCI

13

7

Net earnings (loss) attributable to Parkland

55

29

(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 the reconciliation purposes only.

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Flex Seal Expands Retailers in the Caribbean

WESTON, Fla., May 3, 2022 /PRNewswire-HISPANIC PR WIRE/ – The global Flex Seal® Family of Products is filling gaps, cracks and holes across the Caribbean. And many of their products are now available at a variety of retailers in Barbados, Bermuda, Guyana, Puerto Rico, Trinidad and Tobago, and St. Lucia.

Available products include Flex Seal, Flex Tape®, Flex Glue®, Flex Seal Liquid®, Flex Shot® and the Flex Seal Mini® products, each in a variety of their respective colors. These products are available at over 30 locations in-store and on some websites.

“The whole Flex Seal Family joins me in the excitement of this new opportunity and growth for our company,” said Phil Swift, CEO, Inventor and Spokesperson. “We are proud to partner with these new retailers and expand our offering of products to more countries globally.”

It’s important to protect your home and property during the storm season, and The Flex Seal Family of Products is there for you. Each product is useful for a variety of fixes and weatherizing around the home.

About The Flex Seal Family of Products
Swift Response, LLC is the distributor and marketer of The Flex Seal® Family of Products. Founded in 2011, the company provides a variety of DIY home repair and maintenance products specializing in waterproofing, adhesive, bonding and sealing.

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ARCHIPELAGO ANNOUNCES APPOINTMENT OF DOMINICAN TO IT’S GLOBAL EXECUTIVE COMMITTEE

JAKARTA, Indonesia, April 29, 2022 /PRNewswire-HISPANIC PR WIRE/ — Dominican, Jose Luis Leonardo, has been promoted to Vice President – The Americas by Southeast Asian international hotel management group, Archipelago. The internal promotion also sees him joining the Global Executive Committee of Archipelago and is effective immediately.

Jose Luis Leonardo, has been promoted to Vice President

“Since joining our Group, initially as General Manager of our first hotel in Cuba, GRAND ASTON Cayo Las Brujas and then as Director of Operations – The Americas, Jose Luis has shown incredible leadership skills in developing our business in the region, under very difficult operational conditions. From day one, Jose Luis understood the capabilities of our Group, our owner centric ethos, the vision of our leadership and the very ambitious tactical plans we had put in place to support our regional expansion. His new role supports and accelerates these plans. Archipelago has a strong track record of developing local talent and Jose Luis’s progression to Global Executive Committee is testament to that.” said Gerard Byrne, Managing Director, Archipelago.

Archipelago is currently experiencing rapid growth in its hotel portfolio in Asia, the Middle East and the Caribbean with over 30,000 rooms operating and a further 10,000 under development globally. Following significant investment in its technology and digital platforms in recent years, Archipelago is now partnering with and significantly improving the performance of independent hotels and hotel groups with Powered by ARCHIPELAGO, its plug and play online connectivity, distribution and revenue management vertical, together with its 10 core brands that cover all hotel categories.

With a presence in the Dominican Republic already, Archipelago’s ambitious regional expansion plan will add 3,500 rooms to its portfolio across the rest of the Caribbean, Mexico, Central America and Columbia by the end of 2023.

About Archipelago

Southeast Asia’s largest privately owned hotel management group, operating more than 150 hotels, with a further 200 hotels under development across Southeast Asia, the Caribbean and the Middle East. A trusted hotel company with a long track record and more than 40,000 rooms operating or under development in over 60 destinations with award winning brands including ASTON, Collection by ASTON, Alana, Huxley, Kamuela, Harper, Quest, Neo, fave, Nordic and Powered by ARCHIPELAGO.

archipelagointernational.com .

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Caribbean Employment Services Introduce New Initiative to Help to Support a Sustainable Approach to Business in the Caribbean

BARBADOSApril 5, 2022 /PRNewswire-HISPANIC PR WIRE/ — Following the successful launch of its Optimal Recruitment Advertising Campaigns and Recruitment Partner Programmes, the team at Caribbean Employment Services is introducing a new initiative to help the clients it works with support a sustainable approach to business in the Caribbean.

As a business based in the Barbados, Caribbean Employment Services is increasingly aware of the importance of sustainability in protecting the beautiful Islands and supportive of the focus that Governments, organisations and companies are placing on sustainability and its importance to everyone’s future.

Keen to work with businesses and organisations that recognise the importance of economic, social and environmental sustainability, both in the Caribbean and globally, the team at Caribbean Employment Services has developed a new initiative to help their clients reaches a wider audience who share the same ethos and ambitions.

Through their Recruitment Partner Programme, clients can communicate their commitment to sustainability, the programmes they’re running, initiatives they’ve launched and their contribution to the Islands. This ensures a consistent message that attracts talent who have the same vision on sustainability and want to work for a company that recognises the importance of its contribution to preserving the ecosystem, improving the quality of lives and safeguarding natural resources.

Employers on the Recruitment Partner Programme benefit from publication in Caribbean Employment Services’ widely distributed and popular news articles, as well as press releases written and distributed through their PR team, ensuring even wider exposure for their recruitment campaigns and sustainability initiatives.

Joseph Boll, CEO at Caribbean Employment Services, said “We’re proud to work with businesses in the hospitality and tourism industries who are committed to reducing their impact on the environment and protect our beautiful Islands and those who live, work and visit them. Using our experience, we’re delighted to have the opportunity to launch this initiative, developed to help our clients reach potential candidates and a wider audience who share the same vision and ambitions for sustainability.”

Caribbean Employment Services is one of the market-leading and most cost-effective recruitment advertising specialists in the Caribbean.  It offers a range of proven recruitment advertising solutions for clients with Caribbean-based roles, including an Online Job Board, Optimal Recruitment Advertising Campaigns and Recruitment Partner Programmes. 4.  For further information on Caribbean Employment Services, please visit https://caribbeanemployment.com/ and https://caribbeanemployment.com/sustainability/.

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Vantage wins Best Trading Services Provider APAC at the ADVFN International Financial Awards 2022

SINGAPORE, March 22, 2022 /PRNewswire-HISPANIC PR WIRE/ – Vantage, the international multi-asset broker, announces today that it has been selected as the “Best Trading Services Provider APAC (Asia-Pacific)” at the ADVFN International Financial Awards 2022.

The panel-judged awards – now in their eighth year – recognises and celebrates the best of breed products and services from across both the traditional financial and Fintech industries.

“We are honoured to receive this award at the ADVFN International Financial Awards 2022,” said Marc Despallieres, Chief Strategy Officer, Vantage. “This is truly a validation of our efforts as we continue to innovate and build our presence in the APAC region, providing a best-in-class trading ecosystem for our clients.”

“Vantage has been operating in the APAC region for some years now, but with the growing sophistication and higher expectations among our clients, we knew we could not be complacent.”

“Instead, we’ve continued our work in emerging markets, improving our clients’ user journeys, providing the tools necessary for an ultra-smooth execution, expanding our operating regions to reach underserved clients, and growing our product offerings while maintaining our low trading fees to suit clients’ trading needs.”

“I would like to take this opportunity to offer my heartfelt thanks to our team for their hard work, as well as our clients for their unwavering support for Vantage.”

This is the second major accolade Vantage has received in the APAC region, since its major rebranding exercise in 2021. Vantage was earlier recognized at the Transform Awards Asia 2021 – an APAC awards programme that recognises excellence and innovation in brand development.

At Transform Awards Asia, Vantage received the “Best brand development project to reflect changed mission, values or positioning” and “Best visual identity from the financial services sector” awards.

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 and a faster and simpler trading platform that enables clients to take advantage of trading opportunities.

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

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Parkland delivers strong 2021 results led by record marketing performance; increases dividend and 2022 Guidance

CALGARY, AB, March 3, 2022 /PRNewswire-HISPANIC PR WIRE/ – Parkland Corporation (”Parkland”, “we”, the “Company”, or “our”) (TSX:PKI), a leading food and convenience store operator, independent supplier and marketer of fuel and petroleum products and leader in renewable energy, announced today its financial and operating results for the three months and year ended December 31, 2021, increased its 2022 Guidance and announced it is raising its annual dividend for the tenth consecutive year. Highlights include:

Q4 2021 Highlights

  • Adjusted EBITDA attributable to Parkland (”Adjusted EBITDA”)1 of $260 million reflects record performance in all our marketing segments. We estimate an approximately $35 million negative impact on Adjusted EBITDA from the British Columbia floods, which required the shutdown of the Transmountain Pipeline and led to a pause in refinery processing operations.2
  • Net earnings attributable to Parkland (”net earnings”) of $23 million, or $0.15 per share, basic, a decrease of 57 percent from prior year, and Adjusted earnings attributable to Parkland (”Adjusted earnings”)3 of $55 million, or $0.36 per share, basic, up approximately 28 percent year-over-year.4

2021 Highlights

  • Adjusted EBITDA of $1.260 billion, up over 30 percent from prior year.
  • Net earnings of $97 million, or $0.64 per share, basic, up approximately 20 percent from 2020 and Adjusted earnings of $372 million, up 200 percent from 2020.
  • Trailing twelve months distributable cash flow per share3 of $4.34, up 35 percent from 2020.
  • Cash flow from operating activities of $904 million fully funded capital expenditures, dividend payments, and interest on leases and long-term debt.
  • Undertook a record number of acquisitions for attractive values with significant synergy potential; accelerating delivery of our strategy and building on our track record of prudent acquisitions.
  • Maintained strong liquidity position, with cash and cash equivalents of $284 million and unused credit facilities of $1,270 billion as at December 31, 2021. Continued to enhance financial strength by taking advantage of favourable conditions to refinance senior notes. Parkland has no debt maturities until 2026.
  • Delivered 12 percent year-over-year growth in our Canada, USA and International marketing segments.
  • Fuel and petroleum volume of 24 billion litres, up over 10 percent from 2020, reflecting the impact of acquisitions, resilient customer demand and ongoing recovery from COVID.
  • Continued to expand our ON the RUN convenience brand with 107 additional locations and grow the reach of our JOURNIE™ rewards program to 1,200 locations. Over the past year, we have almost doubled JOURNIE™ membership, from 1.5 million active members to over 2.9 million.

2022 Outlook

  • Increased 2022 Adjusted EBITDA guidance to $1.5 billion +/- 5 percent, reflecting our execution confidence and the expected close of previously announced acquisitions.
  • Increased the annual dividend by 5.3 percent to $1.300 per share and starting in the second quarter will switch to a quarterly payment schedule.

“I want to thank the Parkland team for an incredible year,” said Bob Espey President and Chief Executive Officer. “While the BC floods prevented us delivering record Adjusted EBITDA, I am proud of the way we supported impacted communities. We accelerated all aspects of our strategy in 2021 and announced a record number of acquisitions. We expanded our retail, food and loyalty business, and made significant progress on our decarbonization strategy by doubling our renewable fuel production, growing our voluntary carbon offset business and advancing our electric vehicle charging network.”

“Parkland is poised for continued growth,” added Espey. “We enter 2022 ahead of our plan to deliver $2 billion of run-rate Adjusted EBITDA by the end of 2025. We are focused on integrating and capturing synergies from the businesses we acquired, driving returns and deleveraging. Our base business and recent acquisitions are on track to deliver strong cash flow, giving us confidence to increase our dividend. Our opportunities for growth and value creation have never been greater.”

Q4 2021 Segment Highlights

  • Canada delivered Adjusted EBITDA of $117 million, up almost 5 percent, from $112 million in Q4 2020. Performance was underpinned by robust fuel and convenience margins, company C-store same-store sales growth5 (”SSSG”) of 4.7 percent (excluding cigarettes) and ongoing economic recovery. We continued to expand our ON the RUN convenience brand and successfully extended JOURNIETM Rewards across our FasGas network, and now have 2.9 million active members.
  • International delivered Adjusted EBITDA of $78 million, up over 8 percent, from $72 million in Q4 2020. Performance was underpinned by a strong base and resource business, with growing wholesale volumes. We continue to see signs of recovery in some of the larger tourism markets with others expected to reopen in 2022.
  • USA delivered Adjusted EBITDA of $41 million, up over 400 percent, from $8 million in Q4 2020. Performance was underpinned by the impact of acquisitions, synergy capture and continued organic growth initiatives. We are seeing a gradual return in cruise ship sailings in Florida and our teams continued to offset the impact of inflation.
  • Supply delivered Adjusted EBITDA of $58 million, down 28 percent, from $81 million in Q4 2020. Performance was impacted by the BC floods, which required the shutdown of the Transmountain Pipeline and led to a pause in refinery processing operations. We estimate an approximately $35 million negative impact on Adjusted EBITDA from this event. During the quarter, we also completed a minor planned maintenance turnaround. In 2021, we co-processed a record 86 million litres of bio-feedstocks which has the equivalent environmental effect of taking over 70,000 cars off the road. Full-year composite utilization6 was 84 percent driven by safe and consistent operational performance.

Parkland is a Sustainability Leader: Awarded AA ESG Rating from MSCI

Sustainability is deeply embedded across our business and through 2021, we continued to strengthen our focus on this important area. In recognition of our commitment to sustainability, we received an AA ESG Rating from Morgan Stanley Capital International (”MSCI”). This places us in the top 17 percent of index constituents. Key highlights and environmental accomplishments include:

  • Published our Sustainability Report which reflects our goal to achieve zero safety incidents, zero spills, zero tolerance for racism and discrimination, zero tolerance for corruption, bribery, and unethical behaviour and to help our governments achieve their goal of net-zero emissions by 2050. Grounded in meaningful and measurable targets, including ambitious greenhouse gas emission reduction targets, our report formalizes our enterprise-wide sustainability strategy and can be viewed by clicking this link: Parkland – Drive to Zero.
  • Extended our track record of renewable fuel leadership at the Burnaby Refinery, co-processing a record 86 million litres of bio-feedstocks. These fuels play a crucial role helping our commercial customers decarbonize their energy use. In 2021 this had the equivalent effect of taking over 70,000 cars off the road. We have more than doubled our renewable fuel production every year since 2019.
  • Committed to build British Columbia’s largest network (by site count) of Electric Vehicle (”EV”) ultra-fast chargers. Strategically located on key arterial routes between Vancouver Island and Calgary, this network will offer customers unrivalled amenity in the form of high-speed charging, premium ON the RUN convenience stores and food choices. This network is expected to open during the summer of 2022.
  • Continued to grow our carbon offset and renewable business, which plays an integral role in our sustainability strategy and in helping our customers meet their environmental commitments. With global demand for voluntary offsets increasing, we delivered significant growth and transacted carbon offset credits across various North American registries.
  • Became a signatory of the United Nations Global Compact, a voluntary initiative to support the United Nation’s Sustainable Development Goals.

Updated 2022 Guidance: Adjusted EBITDA of $1.5 billion

Reflecting confidence in our execution capability and continued growth trajectory, as well as the expected close of previously announced acquisitions, we are increasing our Adjusted EBITDA guidance previously disclosed in Parkland’s November 16, 2021 news release. Highlights include:

  • Adjusted EBITDA of $1.5 billion +/- 5 percent. This is up approximately 20 percent from 2021 results.
  • Capital expenditures (attributable to Parkland) are expected to be at the lower end of between $475 million and $575 million, comprising:
    • Growth capital expenditures7 (attributable to Parkland) of between $250 million and $300 million.
    • Maintenance capital expenditures7 (attributable to Parkland) of between $225 million and $275 million.

Consolidated Financial Overview

($ millions, unless otherwise noted)

Three months ended December 31,

Year ended December 31,

Financial Summary

2021

2020

2021

2020

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

6,398

5,485

23,900

21,424

Sales and operating revenue(1)

6,286

3,506

21,468

14,011

Adjusted EBITDA attributable to Parkland (”Adjusted EBITDA”)(2)

260

247

1,260

967

Canada(4)

117

112

439

435

International

78

72

294

270

USA(5)

41

8

136

72

Supply(4)(5)

58

81

509

282

Corporate

(34)

(26)

(118)

(92)

Net earnings (loss) attributable to Parkland

23

53

97

82

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

0.15

0.36

0.64

0.55

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

0.15

0.35

0.64

0.54

Adjusted earnings (loss) attributable to Parkland (”Adjusted earnings”)(3)

55

43

372

124

Adjusted earnings (loss) per share – basic ($ per share)(3)

0.36

0.29

2.46

0.83

Adjusted earnings (loss) per share – diluted ($ per share)(3)

0.36

0.28

2.45

0.82

TTM Distributable cash flow(3)(6)

660

480

660

480

TTM Distributable cash flow per share(3)(6)(7)

4.34

3.22

4.34

3.22

Dividends

47

47

190

184

Dividends per share(7)

0.3087

0.3036

1.2314

1.2110

Weighted average number of common shares (million shares)

153

149

151

149

Total assets

11,550

9,094

11,550

9,094

Non-current financial liabilities

6,033

4,377

6,033

4,377

(1)

Certain amounts within sales and operating revenue and fuel and petroleum product volumes were restated and reclassified to conform to the presentation used in the current period.

(2)

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

(3)

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

(4)

Canada Retail and Canada Commercial, formerly presented separately as individual segments, and the Canadian distribution business, formerly presented in Supply, are now included in Canada, reflecting a change in organizational structure in 2020.

(5)

For comparative purposes, information for previous periods was restated due to a change in segment presentation. The supply and trading business in the United States, formerly presented in the Supply segment, is now included in the USA segment, reflecting a change in organizational structure in 2021.

(6)

Amounts presented on a trailing-twelve-month basis (”TTM”).

(7)

Calculated based on weighted average number of shares.

Announcing a 5.3 percent annual dividend increase and adoption of quarterly payment schedule

Parkland’s annualized common share dividend will increase 5.3 percent from $1.235 to $1.300, effective with the monthly dividend payable on April 15, 2022 to shareholders of record at the close of business on March 22, 2022. Starting in the second quarter, any declared dividends will be paid on a quarterly basis, at the expected rate of $0.325 per share.

Q4 2021 Conference Call and Webcast Details

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

https://produceredition.webcasts.com/starthere.jsp?ei=1527086&tp_key=bb26fea062

Analysts and institutional investors interested in participating in the question-and-answer session of the conference call may do so by calling 1-888-390-0546 (toll-free) (Conference ID: 33819081). International participants can call 1-587-880-2171 (toll) (Conference ID: 33819081).

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 quarter and year ended December 31, 2021 (the “Q4 2021 MD&A”) and audited consolidated financial statements for the year ended December 31, 2021 (the “Annual Consolidated Financial Statements”) provide a detailed explanation of Parkland’s operating results for the three months and year ended December 31, 2021. An English version of these documents will be available online at www.parkland.ca and SEDAR after the results are released by newswire under Parkland’s profile at www.sedar.com. The Q4 2021 French MD&A and Annual Consolidated French Financial Statements will be posted to www.parkland.ca and SEDAR as soon as they become available.

About Parkland Corporation

Parkland’s purpose is to Power Journeys and Energize Communities. Through our portfolio of trusted and locally relevant food, convenience, retail, commercial and wholesale brands, we serve 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 that our diverse customers rely on, we are a leader in renewable energy and are building an EV charging network to serve growing demand for convenient charging from EV drivers in select markets and decarbonizing through renewable fuels manufacturing, compliance and carbon offsets marketing and trading.

Parkland’s proven strategy is centered around growing organically, realizing a supply advantage, acquiring prudently, and integrating successfully. We are positioned to lead through the energy transition and are focused on developing our existing business in resilient markets, further diversifying our retail business into food, convenience, and renewable energy solutions (including EV charging), and helping our commercial customers decarbonize their operations. Our strategy is enabled and 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, business objectives and strategies, Parkland’s ambition to generate run-rate Adjusted EBITDA of $2 billion by 2025 and the key strategic pillars underpinning such ambition; Parkland’s 2022 guidance, including Adjusted EBITDA, growth and maintenance capital expenditure guidance; expected future dividend amounts, timing and frequency; Parkland’s ESG goals and targets, including the expected expansion of our renewables and carbon offset business; expected benefits and synergies to be derived from acquisitions, potential future acquisition opportunities, expected timing of the opening of Parkland’s electric vehicle ultra-fast charging network in British Columbia; and Parkland’s ability to advance its growth agenda.

These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These forward-looking statements speak only as of the date of this news release. Parkland does not undertake any obligations to publicly update or revise any forward-looking statements except as required by securities law. Actual results could differ materially from those anticipated in these forward-looking statements as a result of numerous risks, assumptions and uncertainties including, but not limited to, general economic, market and business conditions, including the duration and impact of the COVID-19 pandemic; Parkland’s ability to execute its business strategies, including without limitation, Parkland’s ability to consistently identify accretive acquisition targets and successfully integrate them, successfully implement organic growth initiatives and to finance such acquisitions and initiatives on reasonable terms; Parkland’s ability to grow its supply advantage by leveraging its scale and infrastructure; Parkland’s ability to achieve its ESG targets; competitive action by other companies; refining and marketing margins; the ability of suppliers to meet commitments; actions by governmental authorities and other regulators including but not limited to increases in taxes or restricted access to markets; changes and developments in environmental and other regulations; and other factors, many of which are beyond the control of Parkland. See also the risks and uncertainties described in “Forward-Looking Information” and “Risk Factors” included in Parkland’s Annual Information Form dated March 5, 2021, and “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.

Specified Financial Measures

This news release contains total of segments measures, non-GAAP financial measures and ratios and supplementary financial 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 15 of the Q4 2021 MD&A, which is incorporated by reference into this news release, for further details regarding specified financial 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. 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. Please refer to the table below for the reconciliation of Adjusted EBITDA to net earnings (loss) for the three month and twelve month periods ending December 31, 2020 and December 31, 2021.

Three months ended December 31,

Year ended December 31,

($ millions)

2021

2020

2021

2020

Net earnings (loss)

27

64

126

112

Add:

Acquisition, integration and other costs

24

14

52

52

Depreciation and amortization

156

144

616

609

Finance costs

86

58

323

250

(Gain) loss on foreign exchange – unrealized

6

(7)

(2)

(Gain) loss on asset disposals

(5)

1

(13)

2

(Gain) loss on risk management and other – unrealized

(11)

(11)

10

(10)

Other (gains) and losses(1)

20

(29)

203

(4)

Other adjusting items(2)

4

12

6

Income tax expense (recovery)

(22)

30

36

42

Adjusted EBITDA including NCI

285

271

1,358

1,057

Deduct: Attributable to NCI

25

24

98

90

Adjusted EBITDA attributable to Parkland (”Adjusted EBITDA”)

260

247

1,260

967

(1)

Other (gains) and losses for the three months ended December 31, 2021 include the following: (i) $25 million gain (2020 – $34 million loss) due to the change in redemption value of Sol Put Option; (ii) $34 million loss (2020 – $72 million gain) due to the change in fair value of redemption options; and (iii) $11 million loss (2020 – $9 million loss) in Other items. Other (gains) and losses for the year ended December 31, 2021 include the following: (i) $87 million loss (2020 – $23 million loss) due to change in redemption value of Sol Put Option; (ii) $86 million loss (2020 – $34 million gain) due to change in fair value of redemption options; and (iii) $30 million loss (2020 – $7 million loss) in Other items. Refer to Note 22 of the Annual Consolidated Financial Statements.

(2)

Other Adjusting Items for the three months ended December 31, 2021 include the share of depreciation and income taxes for the Isla joint venture of $4 million (2020 – nil). Other Adjusting Items for the year ended December 31, 2021 include the following: (i) $1 million loss (2020 – $5 million loss) on foreign exchange on cash pooling arrangements within gain (loss) on foreign exchange – realized; (ii) an unrealized gain of nil (2020 – $9 million loss) on Intermediation Facility Derivatives within fuel and petroleum product cost of purchases; (iii) share of depreciation and income taxes from the Isla joint venture of $7 million (2020 – nil).

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 operating and financial performance and liquidity of Parkland. These non-GAAP financial measures and ratios 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 15 of the Q4 2021 MD&A, which is incorporated by reference into this news release, for further details regarding Parkland’s non-GAAP financial measures and ratios. Please see below for the reconciliation of Adjusted earnings (loss) to net earnings (loss) and calculation of Adjusted earnings (loss) per share for the three and twelve month periods ending December 31, 2020 and December 31, 2021.

Three months ended December 31,

Year ended December 31,

($ millions, unless otherwise stated)

2021

2020

2021

2020

Net earnings (loss)

27

64

126

112

Add:

Acquisition, integration and other costs

24

14

52

52

Loss on modification of long-term debt

18

77

3

(Gain) loss on foreign exchange – unrealized

6

(7)

(2)

(Gain) loss on asset disposals

(5)

1

(13)

2

(Gain) loss on risk management and other – unrealized

(11)

(11)

10

(10)

Other (gains) and losses(4)

20

(29)

203

(4)

Other adjusting items(1)

4

12

6

Tax normalization(2)

(13)

15

(42)

(3)

Adjusted earnings (loss) including NCI

70

54

418

156

Less: Adjusted earnings (loss) attributable to NCI

15

11

46

32

Adjusted earnings (loss)

55

43

372

124

Weighted average number of common shares (million shares)(3)

153

149

151

149

Weighted average number of common shares adjusted for the effects of
dilution (million shares)(3)

153

151

152

151

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

Basic

0.36

0.29

2.46

0.83

Diluted

0.36

0.28

2.45

0.82

(1)

Other Adjusting Items for the three months ended December 31, 2021 include the share of depreciation and income taxes for the Isla joint venture of $4 million (2020 – nil). Other Adjusting Items for the year ended December 31, 2021 include the following: (i) $1 million loss (2020 – $5 million loss) on foreign exchange on cash pooling arrangements within gain (loss) on foreign exchange – realized; (ii) an unrealized gain of nil (2020 – $9 million loss) on Intermediation Facility Derivatives within fuel and petroleum product cost of purchases; (iii) share of depreciation and income taxes from the Isla joint venture of $7 million (2020 – nil).

(2)

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, and debt modifications. The tax impact was estimated using the effective tax rates applicable to jurisdictions where the related items occur.

(3)

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.

(4)

Other (gains) and losses for the three months ended December 31, 2021, include the following: (i) $25 million gain (2020 – $34 million loss) due to the change in redemption value of Sol Put Option; (ii) $34 million loss (2020 – $72 million gain) due to the change in fair value of redemption options; (iii) $11 million loss (2020 – $9 million loss) in Other items. Other (gains) and losses for the year ended December 31, 2021, include the following: (i) $87 million loss (2020 – $23 million loss) due to change in redemption value of Sol Put Option; (ii) $86 million loss (2020 – $34 million gain) due to change in fair value of redemption options; (iii) $30 million loss (2020 – $7 million loss) in Other items. Refer to Note 22 of the Annual Consolidated Financial Statements.

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; (iii) the change in certain risk management and other instruments, and (iv) interest on leases and long-term debt, and principal payments on leases attributable to non-controlling interests. 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. Please refer to the table below for the reconciliation of distributable cash flow to cash generated from (used in) operating activities and a calculation of distributable cash flow per share for the trailing twelve month periods ending December 31, 2020 and December 31, 2021.

Three months ended

Trailing twelve
months ended

($ millions, unless otherwise noted)

March 31,
2021

June 30,
2021

September 30,
2021

December
31, 2021

December 31,
2021

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

264

322

200

118

904

Exclude: Adjusted EBITDA attributable to NCI, net of tax

(23)

(21)

(26)

(22)

(92)

241

301

174

96

812

Reverse: Change in other liabilities and other assets(3)

(14)

(9)

4

8

(11)

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

53

22

119

148

342

Include: Maintenance capital expenditures attributable to Parkland

(20)

(45)

(40)

(112)

(217)

Exclude: Turnaround maintenance capital expenditures

3

8

11

Include: Proceeds on asset disposals

5

1

4

4

14

Reverse: Acquisition, integration and other costs

5

11

12

24

52

Include: Interest on leases and long-term debt

(54)

(54)

(56)

(59)

(223)

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

1

1

1

1

4

Include: Payments on principal amount on leases

(35)

(33)

(36)

(38)

(142)

Exclude: Payments on principal amount on leases attributable to NCI

4

4

5

5

18

Distributable cash flow(1)

186

199

190

85

660

Weighted average number of common shares (million shares)

152

Distributable cash flow per share

4.34

(1)

Prior to March 31, 2021, distributable cash flow was referred to as adjusted distributable cash flow.

(2)

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.

(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”.

Three months ended

Trailing twelve
months ended

($ millions, unless otherwise noted)

March 31,
2020

June 30,
2020

September 30,
2020

December 31,
2020

December 31,
2020

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

328

629

253

(40)

1,170

Exclude: Adjusted EBITDA attributable to NCI, net of tax

(20)

(15)

(24)

(20)

(79)

308

614

229

(60)

1,091

Reverse: Change in other liabilities, other assets and other instruments

(21)

(3)

27

12

15

Reverse: Net change in non-cash working capital

(135)

(425)

89

288

(183)

Include: Maintenance capital expenditures attributable to Parkland

(118)

(50)

(18)

(39)

(225)

Exclude: Turnaround maintenance capital expenditures

55

16

1

2

74

Include: Proceeds on asset disposals

3

5

2

6

16

Reverse: Acquisition, integration and other costs

21

8

9

14

52

Include: Interest on leases and long-term debt

(59)

(59)

(59)

(56)

(233)

Exclude: Interest on leases and long-term debt attributable to NCI(3)

1

1

2

Include: Payments on principal amount on leases

(39)

(35)

(40)

(35)

(149)

Exclude: Payments on principal amount on leases attributable to NCI

5

5

6

4

20

Distributable cash flow(1)

20

76

247

137

480

Weighted average number of common shares (million shares)

149

Distributable cash flow per share

3.22

(1)

Prior to March 31, 2021, distributable cash flow was referred to as adjusted distributable cash flow.

(2)

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.

(3)

Beginning September 30, 2020, interest on leases and long-term debt attributable to NCI is excluded from distributable cash flow.

Company C-Store SSSG refers to the period-over-period sales growth generated by retail convenience stores at the same company sites. The effects of opening and closing stores, temporary closures (including closures for ON the RUN / Marché Express conversions), expansions of stores, renovations of stores, and stores with changes in food service models in the period are excluded to derive a comparable same-store metric. Same-store sales growth is a metric commonly used in the retail industry that provides meaningful information to investors in assessing the health and strength of Parkland’s brands and retail network, which ultimately impacts financial performance. Company C-Store SSSG does not have any standardized meaning under IFRS and is therefore unlikely to be comparable to similar measures presented by other companies. Please see below for a reconciliation of convenience store revenue of the Canada segment with the C-Store same store sales (”SSS”) and calculation of the Company C-Store SSSG.

Three months ended
December 31,

Three months ended
December 31,

($ millions)

2021

2020

%

2020

2019

%

Convenience Store (”C-store”) revenue

93

95

95

91

Add:

Point-of-sale (”POS”) value of goods and services sold at C-stores
operated by retailers(3)

141

143

143

131

Less:

Rental income from retailers and others(1)(2)

(26)

(23)

(23)

(25)

Same Store revenue adjustments(4) (excluding cigarettes)

(9)

(9)

(6)

(4)

Same Store C-store Sales(5)

199

206

(3.2)%

209

193

7.8      %

Less:

Same Store revenue adjustments(4) (cigarettes)

(102)

(114)

(115)

(107)

Same Store C-Store sales (excluding cigarettes)(5)

97

92

4.7%

94

86

8.7      %

(1)

Includes rental income from retailers in the form of a percentage rent on convenience store sales.

(2)

Other excluded revenues include automated teller machine and POS system licensing fees.

(3)

POS values used to calculate Company C-Store SSSG are not a Parkland financial measure and do not form part of Parkland’s consolidated financial statements.

(4)

This adjustment excludes the effects of opening and closing stores, temporary closures (including closures for ON the RUN / Marché Express conversions), expansions of stores, renovations of stores, and stores with changes in food service models, to derive a comparable same-store metric.

(5)

Percentages are calculated based on unrounded numbers.

Supplementary Financial Measures

Parkland uses a number of supplementary financial measures, including maintenance capital expenditures and growth capital expenditures, to evaluate the success of our strategic objectives and to set variable compensation targets for employees and which are included in this news release. These measures may not be comparable to similar measures presented by other issuers, as other issuers may calculate these metrics differently. See section 15 of the Q4 2021 MD&A, which is incorporated by reference into this news release, for further details on the supplementary financial measures used by Parkland.

Non-Financial Measures

In addition to specified financial measures, Parkland uses a number of non-financial measures, including composite utilization, 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 IFRS measures, and may not be comparable to similar measures presented by other issuers, as other issuers may calculate these metrics differently. See Section 15 of the Q4 MD&A, which is incorporated by reference into this news release, for further details on the non-financial measures used by Parkland.

__________

1

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

2

Estimated based on lost crude throughput and refining margins during the temporary pause in refining operations from November 22 to December 11, 2021.

3

Non-GAAP financial measure. See ” Specified Financial Measures” section of this news release.

4

See “Specified Financial Measures” section of this news release for a reconciliation of net earnings to Adjusted earnings.

5

Non-GAAP financial measure. See ” Specified Financial Measures” section of this news release.

6

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

7

Supplementary financial measure. See “Specified Financial Measures” section of this news release.

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Parkland Announces Date of 2021 Fourth Quarter & Year-End Results

CALGARY, AB, Feb. 17, 2022 /PRNewswire-HISPANIC PR WIRE/ — Parkland Corporation (”Parkland”, “we”, the “Company”, or “our”) (TSX: PKI) expects to announce its 2021 fourth quarter and year-end results after markets close on Thursday, March 3, 2022. A conference call and webcast will then be held at 6:30 a.m. MST (8:30 a.m. EST) on Friday, March 4, 2022, to discuss the results. To listen to the live webcast and watch the presentation, please use the following link:

https://produceredition.webcasts.com/starthere.jsp?ei=1527086&tp_key=bb26fea062

Analysts and institutional investors interested in participating in the question and answer session of the conference call may do so by calling 1-888-390-0546 (toll-free) (Conference ID: 33819081). International participants may call 1-800-389-0704 (toll free) (Conference ID: 33819081).

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

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

About Parkland Corporation

Parkland’s purpose is to Power Journeys and Energize Communities. We are a leading operator and consolidator of convenience retail and fuel marketing businesses. Through our portfolio of trusted and locally relevant convenience, retail, commercial and wholesale brands, we serve 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 that our diverse customers rely on, we are a leader in manufacturing low carbon fuels and are rapidly building a charging network to serve growing demand for convenient charging from electric vehicle drivers in select markets.

Parkland’s proven strategy is centered around growing organically, realizing a supply advantage, acquiring prudently, and integrating successfully. We are positioned to win through the energy transition and are focused on developing our existing business in resilient markets, further diversifying our retail business into convenience, food, and electric vehicle charging, and helping our commercial customers decarbonize their operations. Our strategy is enabled and 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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Mastercard And GCS International Strengthen Their Alliance To Build Financial Inclusion In Jamaica

CARIBPR Wire, Kingston, Jamaica, Mon. February 7, 2022: Mastercard and GCS International, a leading regional fintech based in the Dominican Republic, today extended their partnership to develop and deliver digital payments solutions to underserved consumers across the Caribbean. This partnership builds on the collaborative work already underway in the Dominican Republic and expands to include solutions in Jamaica.

The partnership will strengthen the economic growth potential in the Caribbean, providing the underserved population with a simple and secure real-time payment solution. Financial institutions will be provided with a white label mobile wallet solution, including Mastercard prepaid cards for international use, providing end users with innovative and enhanced payment options in line with market trends. The initiative demonstrates how technology can be harnessed to accelerate financial inclusion and give people more control, better banking experiences, and a wider range of payment choices.

During the signing of the agreement, Carlo Enrico, president of Mastercard’s Latin America and Caribbean region, highlighted: “Mastercard is committed to delivering a digital economy that works for all. As the fintech landscape evolves at an unprecedented speed, Mastercard provides the infrastructure and assets to help fintechs grow and attract more people to the digital economy. We look forward to collaborating with the GCS International team through this next stage of growth and provide the solutions that will drive financial inclusion at scale.”

At the same time, Brian Paniagua, CEO of GCS International expressed: “Our company has provided friction-less PFM (personal finance management) tools and solutions to consumers creating value for individuals and their societies in Guatemala and the Dominican Republic, and in the near future, Jamaica. This strategic alliance with Mastercard is a natural evolution in the industry goal towards achieving the financial inclusion of more countries in the Caribbean and capitalizes on GCS’ proven track record ability to apply leading technology to the financial industry in benefit of those who need it most. We look forward to expand this alliance in a near future to other countries in Central America as well.”

GCS International is a leading fintech in the Dominican Republic specialized in cutting-edge technology within the payments industry, focused on the development of mobile solutions key to people’s needs such as transfers between accounts, payment of basic services, loan payments, among others.

Mastercard will continue to advance equitable and sustainable economic growth and financial inclusion around the world through a broad range of efforts. Last year, the company announced the expansion of its worldwide commitment to financial inclusion by pledging to bring a total of 1 billion people and 50 million micro and small businesses into the digital economy by 2025.

###

About Mastercard (NYSE:MA)

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

About GCS International

GCS International is a FinTech committed to promoting digital transformation in Latin America and the adoption of new alternative channels, promoting greater access to financial services through innovative digital technologies. They believe in generating a positive social impact that meets high social, environmental and community standards by providing new platforms for inclusion and prosperity.

www.gcs-international.com

EDITOR’S NOTE: ACCESS PHOTO FOR USE WITH THIS ARTICLE HERE

CAPTION: L – r: Brian Paniagua, CEO of GCS International; Carlo Enrico, president of Mastercard for Latin America and the Caribbean; Marcelo Tangioni, Caribbean Division President, Mastercard.

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Parkland To Build The ‘Electric Charging Destination of the Future’

CALGARY, AB, Feb. 2, 2022 /PRNewswire-HISPANIC PR WIRE/ – Parkland Corporation (”Parkland”, “we”, the “Company”, or “our”) (TSX: PKI), a leading customer focused convenience retail and fuel marketing business, announced today that it plans to build the ‘Electric Charging Destination of the Future’ and set a new standard for electric vehicle (”EV”) charging and customer experience. Parkland has developed its initial architectural concept by sponsoring an international design competition operated by Electric Autonomy Canada, a leading news platform focused on electric and autonomous vehicle technologies.

“Consistent with our energy transition and convenience destination strategy, our goal in sponsoring this competition was to engage talented architects and designers from around the world, invite them to put the needs of EV customers first, and entirely reimagine their experience,” said Darren Smart, SVP Energy Transition and Corporate Development. “We are committed to bringing the winning concept to life as part of our ambitious EV charging strategy in British Columbia and believe the concept could be extended to our other geographies when we see opportunity to meet emerging customer demand.”

A sustainably built electric charging destination of the future
The winning design was created by James Silvester, an award-winning Scotland-based architect with extensive global experience designing sustainable architecture. Named, ‘More with Less’, the design creates a relaxing environment, where electric vehicle drivers can take a breath, and recharge not just their vehicles, but themselves.

“The environmentally friendly materials and modular nature of the ‘More with Less’ concept, provides tremendous versatility,” added Smart. “It can be scaled large or small, accommodate the amenities we know EV customers value while they charge, such as our ON the RUN convenience stores and high-quality dining. It also creates a series of outdoor spaces. The result is a destination that customers can enjoy and an environment where nature is integral to the structure. We look forward to working with James to further hone the design and identify a suitable location where we can bring it to life and create a world-class experience for EV drivers.”

Parkland’s continued commitment to energy transition and renewables leadership
Bringing the winning design to life is a natural extension of our energy transition and renewables activities. This includes previously announced plans to open British Columbia’s largest network (by site count) of ultra-fast electric vehicle chargers. These are co-located with ON the RUN branded convenience stores and Triple O’s restaurants on high-traffic routes through British Columbia and into Calgary. We expect this network will be complete in the second half of 2022. In addition, underpinned by our commitment to a lower carbon future, we continue to extend our leading co-processing and renewable fuel manufacturing capabilities at our Burnaby Refinery.

About Parkland Corporation
Parkland’s purpose is to Power Journeys and Energize Communities. Through our portfolio of trusted and locally relevant convenience, retail, commercial and wholesale brands, we serve 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 that our diverse customers rely on, we are a leader in renewable energy and are rapidly building a charging network to serve growing demand for convenient charging from electric vehicle drivers in select markets.

Parkland’s proven strategy is centered around growing organically, realizing a supply advantage, acquiring prudently, and integrating successfully. We are positioned to win through the energy transition and are focused on developing our existing business in resilient markets, further diversifying our retail business into convenience, food, and EV charging, and helping our commercial customers decarbonize their operations. Our strategy is enabled and underpinned by our people, as well as our values of safety, integrity, community, and respect, which are deeply embedded across our organization.

ABOUT ELECTRIC AUTONOMY
Electric Autonomy is the leading news and events platform focused on advancing Canada’s transition to safer, cleaner, and more affordable mobility and transportation through the adoption of electric and autonomous vehicle technologies and new mobility services. For more information: https://electricautonomy.ca/

Forward Looking Statement
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 plan to build the ‘Electric Fueling Station of the future’ and set the global standard for electric vehicle charging and customer experience, Parkland’s commitment to and expectations with respect to the ‘More with Less’ concept, Parkland’s energy transition activities, including its plan to open British Columbia’s largest network (by site count) of ultrafast electric vehicle chargers and  details and timing with respect thereto.

These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These forward-looking statements speak only as of the date of this news release. Parkland does not undertake any obligations to publicly update or revise any forward-looking statements except as may be required by securities law. Actual results could differ materially from those anticipated in these forward-looking statements as a result of numerous risks and uncertainties including, but not limited to: failure to execute and realize all or any of the anticipated benefits of Parkland’s energy transition activities, including with respect to its electric vehicles charging strategies in British Columbia; 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 Annual Information Form dated March 5, 2021, and “Forward-Looking Information” and “Risk Factors” included in the Q3 2021 MD&A dated November 2, 2021 and the Q4 2020 MD&A dated March 4, 2021, each filed on SEDAR and available on the Parkland website at www.parkland.ca.

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Parkland clarifies details regarding a webcast and conference call on Tuesday, January 18, at 4:00pm MDT (6:00pm EDT) to discuss its announced acquisition of M&M Food Market

CALGARY, AB, Jan. 18, 2022 /PRNewswire-HISPANIC PR WIRE/ — Parkland Corporation (”Parkland”, “we”, the “Company”, or “our”) (TSX: PKI), will host a webcast and conference call on Tuesday, January 18, at 4:00pm MDT (6:00pm EDT) to discuss its announced acquisition of M&M Food Market.  To listen to the live webcast and watch the presentation, please use the following link: https://produceredition.webcasts.com/starthere.jsp?ei=1524874&tp_key=388fcb2af7

Analysts and institutional investors interested in participating in the question-and-answer session of the conference call may do so by calling 1-888-390-0546 (toll-free) (Conference ID: 68511332). International participants can call 1-800-389-0704 (toll) (Conference ID: 68511332).

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.

About Parkland Corporation
Parkland’s purpose is to Power Journeys and Energize Communities. We are a leading operator and consolidator of convenience retail and fuel marketing businesses. Through our portfolio of trusted and locally relevant convenience, retail, commercial and wholesale brands, we serve 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 that our diverse customers rely on, we are a leader in manufacturing low carbon fuels and are rapidly building a charging network to serve growing demand for convenient charging from electric vehicle drivers in select markets.

Parkland’s proven strategy is centered around growing organically, realizing a supply advantage, acquiring prudently, and integrating successfully. We are positioned to win through the energy transition and are focused on developing our existing business in resilient markets, further diversifying our retail business into convenience, food, and EV charging, and helping our commercial customers decarbonize their operations. Our strategy is enabled and 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 expands food offer and accelerates convenience growth with acquisition of M&M Food Market

CALGARY, AB, Jan. 18, 2022 /PRNewswire-HISPANIC PR WIRE/ — Parkland Corporation (”Parkland”, “we”, the “Company”, or “our”) (TSX: PKI), a leading operator and consolidator of convenience retail and fuel marketing businesses, announced today it has entered into an agreement to acquire M&M Food Market (”M&M”) (”the Acquisition”). M&M is a premium, restaurant-quality frozen food retailer who brings high-quality, convenient food choices to Canadians. This acquisition represents one of many steps we are taking in our retail diversification strategy to expand our proprietary food offer, customer reach and innovation pipeline.

“This acquisition provides a platform to grow our food offer, expand our proprietary brands, and advance our digital and loyalty strategy,” said Ian White, SVP Strategic Marketing & Innovation. “Consistent with our commitment to create convenience destinations, M&M’s national store network, and innovative approach to food preparation and menu development positions us to offer high-quality food that complements our growing quick-serve restaurant offerings. We will grow these capabilities in all our operating regions and bolster our digital connection to customers by combining M&M and JOURNIE™ rewards programs. We look forward to bringing ON the RUN and M&M together to help customers make the most of every stop.”

The acquisition includes over 300 well-located standalone franchise and corporate owned stores, over 2,000 M&M Express locations, and a well-established rewards program with approximately two million active members. Led by an experienced management team who have a proven track record of growth and a food-first culture, M&M will create quality food options that our customers can consume fresh-from-frozen, both on site and on the go, and prepared from frozen at home. We will leverage these capabilities throughout our existing network and soon to be launched standalone ON the RUN convenience locations.

“Parkland’s ON the RUN brand is a convenience retail leader and we are excited to combine our two offerings,” said Andy O’Brien, CEO of M&M. “M&M and its franchise partners share Parkland’s customer focus and passion for quality food. The combination of our innovative food capabilities and Parkland’s more than 3,000 retail locations in 25 countries creates an immediate runway of growth and expansion opportunities.”

This Acquisition enables key elements of our strategy:

  • Advances our enterprise food strategy: Adds a proprietary brand, experienced team, franchisee network, and a scalable fresh and fresh-from-frozen food growth platform across all our markets. We will leverage M&M’s expertise and track record of developing successful menus in its innovation kitchen to evaluate and develop additional fresh and quick-serve food choices across our network.
  • Advances our digital strategy and creates a premier Canadian loyalty program: By combining JOURNIE and M&M’s reward programs which has two million active members, we will create extensive cross-promotional opportunities and form one of Canada’s premier loyalty programs.
  • Enhances our ON the RUN customer value proposition: M&M will be integral to our growing On the Run network, bolstering our in-store, e-commerce and home delivery offers, and supporting our standalone convenience concept.
  • Capital -light: M&M leverages a well-established, highly efficient food preparation and distribution network, requiring limited capital investment to efficiently serve its retail locations.
  • R atable cash flow with significant growth potential: M&M’s royalty fee-based operating model creates a ratable stream of cash flow. We aim to grow M&M’s Canadian annual run rate Adjusted EBITDA to approximately $55 million in three years.

The total consideration for this transaction is approximately $322 million, which will be funded out of existing credit facility capacity. This Acquisition represents a valuation metric of less than 8.5x estimated 2021 Adjusted EBITDA. Subject to approval under the Competition Act (Canada) and other customary closing conditions, the Acquisition is expected to close in the first quarter of 2022.

Acquisition Conference Call and Webcast Details
Parkland will host a webcast and conference call on Thursday, January 18, at 4:00pm MDT (6:00pm EDT) to discuss the acquisition. To listen to the live webcast and watch the presentation, please use the following link: https://produceredition.webcasts.com/starthere.jsp?ei=1524874&tp_key=388fcb2af7

Analysts and institutional investors interested in participating in the question-and-answer session of the conference call may do so by calling 1-888-390-0546 (toll-free) (Conference ID: 68511332). International participants can call 1-800-389-0704 (toll) (Conference ID: 68511332).

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.

About Parkland Corporation
Parkland’s purpose is to Power Journeys and Energize Communities. We are a leading operator and consolidator of convenience retail and fuel marketing businesses. Through our portfolio of trusted and locally relevant convenience, retail, commercial and wholesale brands, we serve 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 that our diverse customers rely on, we are a leader in manufacturing low carbon fuels and are rapidly building a charging network to serve growing demand for convenient charging from electric vehicle drivers in select markets.

Parkland’s proven strategy is centered around growing organically, realizing a supply advantage, acquiring prudently, and integrating successfully. We are positioned to win through the energy transition and are focused on developing our existing business in resilient markets, further diversifying our retail business into convenience, food, and EV charging, and helping our commercial customers decarbonize their operations. Our strategy is enabled and underpinned by our people, as well as our values of safety, integrity, community, and respect, which are deeply embedded across our organization.

About M&M Food Market:
Founded in 1980, M&M Food Market is Canada’s leading retailer of frozen foods and has helped Canadians put delicious meals on the table by offering consumers products that were prepared with care using authentic recipes and high-quality ingredients along with personalized customer service, all within a uniquely convenient shopping environment. Following the beginning of a significant rebranding effort in 2016 – including the name change from M&M Meat Shops, a new store design, new products and packaging, a new website, and newly trained Meal Advisors – M&M Food Market has been focused on innovation across virtually every aspect of the business. It is headquartered in Mississauga, Ontario, with locations in all ten provinces, Yukon, and the Northwest Territories. M&M has been recognized as one of Canada’s Best Managed Companies for 11 years in a row. M&M products include delicious and convenient options across virtually every food category including appetizers, prepared meals, seafood, meats and poultry, vegetables, sides, bakery, and desserts and come in formats ranging from individual portions to family-sized options.

Forward Looking Statement
Certain statements contained in this news release constitute forward-looking information and statements (collectively, “forward-looking statements”). When used in this news release the words “expect”, “will”, “could”, “would”, “believe”, “continue”, “pursue” and similar expressions are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things, the successful completion of the Acquisition and the timing thereof; expected benefits of the acquisition, including: potential organic growth, creating convenience destinations; expanding Parkland’s food offerings throughout its existing network; creating a loyalty coalition between the M&M and JOURNIE™ rewards programs; expected future increase to the run rate Adjusted EBITDA of the M&M business and the timing thereof; and the launch of standalone ON the RUN convenience locations.

These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These forward-looking statements speak only as of the date of this news release. Parkland does not undertake any obligations to publicly update or revise any forward-looking statements except as may be required by securities law. Actual results could differ materially from those anticipated in these forward-looking statements as a result of numerous risks and uncertainties including, but not limited to, failure to complete the Acquisition; failure to satisfy the conditions to closing of the Acquisition; failure to realize all or any of the anticipated benefits of the Acquisition; 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 Annual Information Form dated March 5, 2021, and “Forward-Looking Information” and “Risk Factors” included in the Q3 2021 MD&A dated November 2, 2021 and the Q4 2020 MD&A dated March 4, 2021, each filed on SEDAR and available on the Parkland website at www.parkland.ca.

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Highgate Systems Announces Organisational Changes

CaribPR Wire, MISSISSAUGA, Ontario, Jan. 18, 2022: Highgate Systems is pleased to announce the appointment of Oluwatobi (Tobi) Boshoro as the new Managing Director of Highgate Systems. Ms. Boshoro brings over 20 years of successful strategic digital transformation within the e-business, commerce and digital payments sector.

Previously, Ms. Boshoro served as the CEO of Renmoney, a leading fintech lending and wealth management company as well as the SVP – Digital Strategy, Issuing & Service Management for Standard Bank Group and various senior positions at Interswitch Group. She is an alumnus of the Harvard Business School, having completed multiple Executive Management programs and holds a M.Sc. Strategic Marketing degree from Cranfield University’s School of Management and a B.Sc. in Economics from Ogun State University.

Barry Walsh, Chairman of Bevertec Group of Companies stated, “We are pleased to welcome Tobi Boshoro as the new Managing Director of Highgate Systems and look forward to her insight and guidance. Ms. Boshoro’s significant digital transformation experience across a range of international fintech companies will be invaluable to Highgate Systems. With her leadership, we will continue to elevate our client’s ability to provide a world class digital banking experience to their members and customers.”

Highgate Systems would also like to thank Kelley Gray for her dedication and leadership since joining the company in November 2019 and remaining true to our goals, including:

  • Strategic leadership implementing a process driven approach to maximise efficiencies and better support our customer base;
  • Strengthen customer and partner relationships to drive growth; and
  • Attracting world-class talent to support system portfolio stabilisation.

Ms. Gray will continue to support Highgate Systems throughout the transition to Ms. Boshoro before she moves into her new role as the Vice President of Infrastructure & Strategic Solutions at Bevertec Group of Companies. In her new capacity she will continue to spearhead the platform stabilisation initiatives and work in concert with Ms. Boshoro to continue to grow and strengthen our customer and partner relationships.

About Highgate Systems

Highgate Systems as a member of the Bevertec Group of Companies is a trusted provider of banking and lending solutions to international banking and financial institution clients. These solutions bring to market the latest innovations to increase profitability, decrease the total cost of ownership, maximize operational efficiency and ensure regulatory compliance. Founded in 1986, Highgate has grown wonderfully over the years boasting clients in many countries. Their team of experienced technology and banking professionals work with clients to provide innovative solutions and help clients grow their businesses.


For more information, please contact info@highgatesystems.com

5025 Orbitor Drive, Building 2, Suite 400, Mississauga, ON L4W 4Y5

+1 416 620 6683 | info@highgatesystems.com | www.highgatesystems.com

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Highgate Systems anuncia cambios organizacionales

CaribPR Wire, MISSISSAUGA, Ontario, Jan. 18, 2022: Highgate Systems se complace en anunciar el nombramiento de Oluwatobi (Tobi) Boshoro como nuevo Director General de Highgate Systems. La Sra. Boshoro aporta más de 20 años de transformación digital estratégica exitosa dentro del sector de comercio electrónico, comercio y pagos digitales. Anteriormente, la Sra. Boshoro se desempeñó como directora ejecutiva de Renmoney, una empresa líder en gestión de patrimonio y préstamos de tecnología financiera, así como también como vicepresidenta sénior de estrategia digital, emisión y gestión de servicios para Standard Bank Group y varios puestos de alto nivel en Interswitch Group. Es exalumna de la Escuela de Negocios de Harvard, completó múltiples programas de Administración Ejecutiva y tiene un M.Sc. Licenciatura en Marketing Estratégico de la Escuela de Administración de la Universidad de Cranfield y un B.Sc. en Economía de la Universidad Estatal de Ogun. Barry Walsh, presidente de Bevertec Group of Companies, declaró: “Nos complace dar la bienvenida a Tobi Boshoro como nueva directora general de Highgate Systems y esperamos su conocimiento y orientación. La importante experiencia de transformación digital de la Sra. Boshoro en una variedad de empresas tecnología financiera internacionales será invaluable para Highgate Systems. Con su liderazgo, continuaremos elevando la capacidad de nuestros clientes para brindar una experiencia de banca digital de clase mundial a sus miembros y clientes”. Highgate Systems también desea agradecer a Kelley Gray por su dedicación y liderazgo desde que se unió a la empresa en noviembre de 2019 y se mantuvo fiel a nuestros objetivos, que incluyen: • Liderazgo estratégico implementando un enfoque basado en procesos para maximizar la eficiencia y apoyar mejor a nuestra base de clientes; • Fortalecer las relaciones con clientes y socios para impulsar el crecimiento; y • Atraer talento de clase mundial para crear un sistema de soporte para la transformación de la cartera de clientes. La Sra. Gray continuará apoyando a Highgate Systems durante la transición a la Sra. Boshoro antes de asumir su nuevo cargo como Vicepresidenta de Infraestructura y Soluciones Estratégicas en Bevertec Group of Companies. En su nuevo puesto, continuará encabezando las iniciativas de transformación de la plataforma y trabajará en conjunto con la Sra. Boshoro para continuar creciendo y fortaleciendo nuestras relaciones con clientes y socios. Acerca de Highgate Systems Highgate Systems, como miembro del grupo de empresas Bevertec, es un proveedor de confianza de soluciones bancarias y crediticias para clientes de instituciones bancarias y financieras internacionales. Estas soluciones traen al mercado las últimas innovaciones para aumentar la rentabilidad, disminuir el costo total de propiedad, maximizar la eficiencia operativa y garantizar el cumplimiento normativo. Fundada en 1986, Highgate ha crecido continuamente y cuenta con clientes en muchos países. Su equipo de profesionales experimentados en tecnología y banca trabaja con los clientes para proporcionar soluciones innovadoras y ayudar a los clientes a hacer crecer sus negocios.
Para obtener más información, comuníquese por favor con info@highgatesystems.com

5025 Orbitor Drive, Building 2, Suite 400, Mississauga, ON L4W 4Y5

+1 416 620 6683 | info@highgatesystems.com | www.highgatesystems.com

https://www.linkedin.com/company/37556789/

https://twitter.com/HighgateSystems
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