Posts Tagged ‘Canada’

Parkland strengthens its Quebec retail network with the acquisition of Pétroles Crevier Inc.

CaribPR Wire, CALGARY, Alberta, July 06, 2021: Parkland Corporation (“Parkland”, “we”, “our”, or “the Company”) (TSX:PKI) is pleased to announce it has entered into an agreement to acquire Pétroles Crevier Inc. (“Crevier”) (a subsidiary of Crevier Group), which is a well-established retail and wholesale business based in Montreal, Canada. This is Parkland’s eighth acquisition announced year-to-date, each of which supports our growth strategy and moves us toward our ambition for $2 billion of run-rate Adjusted EBITDA by the end of 2025.

“This acquisition extends our existing retail network in Quebec and expands our presence in key markets,” said Donna Sanker, President of Parkland Canada. “We believe we can add significant value by deploying our proven retail capabilities, proprietary Marche Express (ON the RUN) convenience and Ultramar forecourt brands, and JOURNIE™ Rewards loyalty program. We look forward to continuing to provide Crevier’s customers with essential products and exceptional service.”

Crevier’s operations extend across Quebec, serving customers through a portfolio of 36 company-owned retail locations and 138 retail dealer locations. In addition, Crevier’s large wholesale business and significant unbranded volume enhance our supply advantage and import optionality. This transaction is expected to add annual fuel and petroleum product volume of approximately 700 million litres, of which 70 percent is attributable to wholesale, and annual run-rate Adjusted EBITDA of approximately C$12 million, prior to additional growth and synergy upside.

75 percent of the transaction consideration will be funded out of existing credit facility capacity, and the remaining 25 percent with Parkland common shares issued from treasury. The transaction is expected to close in the first quarter of 2022 and is subject to approval under the Competition Act (Canada) and other customary closing conditions.

Forward-Looking Statements
Certain statements contained in this news release constitute forward-looking information and statements (collectively, “forward-looking statements”). When used in this news release the words “expect”, “will”, “could”, “would”, “believe”, “continue”, “pursue” and similar expressions are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things, the successful completion of the acquisition of Crevier and the timing thereof; expected benefits of the acquisition, including potential organic growth, post-closing synergy opportunities, Parkland’s ability to add value to the acquired network through its Marche Express (ON the RUN) convenience and Ultramar forecourt brands, and JOURNIE™ Rewards loyalty program, the expected product volume and annual run-rate Adjusted EBITDA contributions resulting from the transaction and the anticipated funding of the acquisition.

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 this acquisition; failure to satisfy the conditions to closing of the acquisition, including approval under the Competition Act (Canada); failure to realize all or any of the anticipated benefits of the acquisition; general economic, market and business conditions; competitive action by other companies; refining and marketing margins; the ability of suppliers to meet commitments; actions by governmental authorities and other regulators including but not limited to increases in taxes or restricted access to markets; changes and developments in environmental and other regulations; and other factors, many of which are beyond the control of Parkland. See also the risks and uncertainties described in “Forward-Looking Information” and “Risk Factors” included in Parkland’s Annual Information Form dated March 5, 2021 and in “Forward-Looking Information” and “Risk Factors” in Parkland’s annual MD&A for the year ended December 31, 2020 dated March 4, 2021 and in the interim MD&A for the three month period ended March 31, 2021 dated May 3, 2021, each as filed on SEDAR and available on the Parkland website at www.parkland.ca.

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

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

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University Canada West Promotes Women’s Leadership with virtual seminar and MBA Scholarship for Women

CaribPR Wire, TORONTO, Canada, Fri. Oct. 2, 2020: University Canada West (UCW) recently announced details on its next public program, a Women in Leadership virtual seminar with prominent Caribbean speaker: Lisandra Rickards on October 7th at 6pm EST. The featured topic is “Risk and Reward: Lessons from Caribbean Women in Entrepreneurship.”

In June 2020, the Vancouver-based UCW unveiled the Women in Leadership MBA Award, an MBA scholarship. This seminar further expands the university’s support of women leaders in this area.  The audience interested in registering for the seminar can sign up at: https://zoom.us/webinar/register/WN_q5lpT5EnTAyr_4gwgUnIcA

As the talk is virtual, men and women across the Caribbean can log on to view this important and informative seminar. Speaking about the Women in Leadership MBA award, Brock Dykeman, UCW President said, “This is an important initiative for UCW and aligns with our goals to empower women to become business and community leaders. We hope to help develop future leaders through this unique initiative by providing them with the industry-relevant skills that employers are looking for in the fast-changing business and technology landscape.”

Speaker Lasandra Rickards is Founder and CEO of Soul Career, former CEO of the Richard Branson Centre of Entrepreneurship, and a Harvard MBA. As CEO of the Richard Branson Centre of Entrepreneurship, she coached over 220 entrepreneurs, created online programs for over 2,500 entrepreneurs, built a team of 12, and made the Centre a player in the venture capital space. With Soul Career, she helps executives, professionals and entrepreneurs lead authentically, and build powerful legacies.

Research shows that communities thrive and grow when women advance in their careers and run their own businesses.  UCW feels that these virtual seminars will provide women and men with tools to advance their leadership skills.

UCW is also of special interest to the Caribbean community because they offer the Americas Tuition, which provides tuition support for prospective students from North America, Central America, South America, and the Caribbean. With the Americas Tuition award, students save up to 60% compared to regular international student’s tuition fees for UCW’s Associate of Arts, Bachelor of Arts, Bachelor of Commerce and MBA degrees. UCW is offering the Americas Tuition Award for students starting in the intakes of January, April, July or October 2021.

Background:

University Canada West is a contemporary independent university located in the heart of vibrant Vancouver. Established in 2004, UCW offers a range of career-focused programs including the Bachelor of Commerce, Bachelor of Arts in Business Communication, Associate of Arts and Master of Business Administration. Courses are offered at UCW´s two downtown Vancouver campus locations, as well as online.

The virtual seminar “Risk and Reward: Lessons from Caribbean Women in Entrepreneurship” is part of a Women in Leadership Seminar Series made up of four seminars focused on Mexico, South America, Brazil, and the Caribbean respectively. The registration link for the seminar is: https://zoom.us/webinar/register/WN_q5lpT5EnTAyr_4gwgUnIcA

PHOTO: Lisandra Rickards – https://www.newsamericasnow.com/wp-content/uploads/2020/10/SCO_0028-2.jpg

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Canada Life Reinsurance enters into £1.7bn longevity risk reinsurance agreement with MMC U.K. Pension Fund

ST. MICHAEL, Barbados, Sept. 14, 2017 /PRNewswire-HISPANIC PR WIRE/ — Canada Life Reinsurance is pleased to announce that it has recently entered into a long term reinsurance agreement to cover the longevity risk on £1.7 billion of liabilities for approximately 7,500 pensioner members of the Marsh & McLennan Companies (MMC) U.K. Pension Fund. This transaction was written by the Barbados Branch of Canada Life via a reinsurance agreement with Guernsey based captive insurer cells managed by Marsh Guernsey.

Tom O’Sullivan, General Manager of the Barbados Branch of Canada Life commented “I am pleased to announce this major reinsurance agreement, which reflects our ability to collaborate effectively with the MMC U.K. Pension Fund to create a solution to efficiently hedge their longevity risk.”

Jeff Poulin, Global Head of Canada Life Reinsurance, added “This transaction highlights our expertise in underwriting large, complex and innovative risk transfer initiatives together with the value of our financial strength.”

Canada Life Reinsurance offers a range of innovative risk and capital management solutions covering mortality, longevity, health and lapse risks for insurers, reinsurers and pension funds across the U.S. and Europe. Canada Life Reinsurance continues to develop innovative reinsurance solutions it offers to insurers and reinsurers in many European markets including the Netherlands, the U.K., France, Germany, Italy, Spain, Portugal, Sweden, Belgium and Ireland.

About Canada Life

Canada Life is part of a group of companies owned by Great-West Lifeco Inc., a diversified financial services holding company headquartered in Winnipeg, Canada. Great-West Lifeco and its insurance subsidiaries have received strong ratings from major rating agencies.

About Great-West Lifeco
Great-West Lifeco Inc. is an international financial services holding company with interests in life insurance, health insurance, retirement and investment services, asset management and reinsurance businesses. Great-West Lifeco has operations in Canada, the United States and Europe through Great-West Life, London Life, Canada Life, Irish Life, Great-West Financial and Putnam Investments. Great-West Lifeco and its companies have £809 billion (over C$1.3 trillion) in consolidated assets under administration as of June 30, 2017 and are members of the Power Financial Corporation group of companies. To learn more, visit www.greatwestlifeco.com.

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Boxing legend Lennox Lewis, leading Canadian cardiologist Dr. Budhendranauth Doobay, former Ontario Cabinet Minister Mary Anne Chambers and The University of Toronto among honourees for The University of the West Indies fourth annual Toronto Benefit Gala Saturday, May 11, 2013

TORONTO, Feb. 19, 2013 /PRNewswire/ – The University of the West Indies (UWI) today announced the honorees for its fourth annual Toronto Benefit Gala, which includes: Dr. Budhendranauth Doobay – renowned cardiologist, community leader, and philanthropist, Dr. The Honourable Lennox Lewis – boxing legend, Dr. Upton Allen – physician and Division Head at Sick Kids Hospital, Nicholas Brathwaite – PETNA co-founder, Dr. The Honourable Mary Anne Chambers – former Ontario Cabinet Minister, Dr. The Honourable Professor Jamal Deen – McMaster University, Honourable Douglas Orane, non-Executive Chairman, GraceKennedy Limited; Ms. Brigitte Shim – celebrated Canadian architect and the University of Toronto.

The UWI Toronto Benefit Gala will be held on Saturday, May 11, 2013 at the Ritz-Carlton, Toronto, and hosted by Vice-Chair for the Toronto Argonauts of the Canadian Football League and renowned motivational speaker Michael “Pinball” Clemons and CTV anchor and Arts & Entertainment reporter Andria Case.

Under the theme Light, Learning and Liberty and the patronage of the Hon. G. Raymond Chang, OJ (Order of Jamaica), the UWI Toronto Benefit Gala raises funds for scholarships for outstanding academic achievers in the Caribbean, who are in great need of assistance.  Since the inaugural gala three years ago, 75 scholarships have been awarded.

The event also recognizes the outstanding and tireless work of community leaders. Past honorees include: award winning author Malcolm Gladwell, Dr. The Honourable Harry Belafonte; The Right Honourable Michaelle Jean, Former Deputy Chief of Toronto police Mr. Keith L. Forde, Mr. David Rudder; Hon. Michael Lee-Chin OJ, Olympian Mr. Donovan Bailey, leading professor of medicine Dr. Herbert Ho Ping Kong, Ryerson University and the University Health Network.

Awards in three categories will be presented during the evening to outstanding leaders of Caribbean and Canadian heritage. Dr. Budhendranauth Doobay, who provides spiritual and medical guidance in the community, and Lennox Lewis, retired boxer and undisputed world heavyweight champion are the recipients of the 2013 Luminary Award.

The 2013 Chancellor’s Award will be presented to the University of Toronto.

The Vice Chancellor’s Award will be awarded to six leaders, as follows:

  • Dr. Upton Allen is the Chief of Infectious Disease Division at Sick Kids Hospital. He is an alumnus of UWI and McMaster University and practiced at Ottawa General Hospital.
  • Mr. Nicholas Brathwaite is the son of Sir Nicholas A. Brathwaite, former prime minister of Grenada. Following a successful and rewarding career in the technology industry he co-founded the PETNA Foundation, a non-profit, charitable organization he started with his wife Janice. PETNA is committed to impacting lives and improving communities. It has provided financial support for students, funds to rebuild homes lost to natural disasters and donated supplies and services
  • Mrs. Mary Anne Chambers is a Corporate Director, retired Senior Vice President at Scotiabank and a former Member of Provincial Parliament. She was appointed to the Executive Council of Ontario where she served four years, first as the Minister of Training Colleges and Universities and subsequently as the Minister of Children and Youth Services. In 2010, Ms. Chambers received an honorary doctorate of laws from the University of Toronto.
  • Professor M. Jamal Deen is a Professor of Electrical and Computer Engineering at McMaster University and holds a Senior Canada Research Chair in Information Technology.
  • Honourable Douglas Orane is the non-Executive Chairman of GraceKennedy Limited, one of the Caribbean’s largest and most dynamic corporate entities. The company, founded in 1922, was a small trading establishment and wharf operators. It has expanded and diversified from a privately-owned enterprise to a public company listed on the stock exchange of Jamaica, and Trinidad & Tobago.
  • Ms. Brigitte Shim is a principal of Shim-Sutcliffe Architects in Toronto, an architecture and design firm interested in the integration of furniture, architecture and landscape. She is also a faculty member at the Faculty of Architecture, Landscape, and Design at the University of Toronto.

In addition to the awards ceremony, silent and live auctions, guests attending the UWI Toronto Benefit Gala will enjoy live performances by internationally renowned Canadian jazz and blues artist Shakura S’Aida, Harpist Elizabeth Asuncion and Panman Pat’s Strolling Band, SwizzleStick Theatre Moko Jumbies and Michie Mee.

Tickets for The University of the West Indies Gala are now on sale and range from $350 – $2000. They can be ordered using the online form at www.uwitorontogala.com, by calling 416-214-7848 or by emailing toni@uwitorontogala.com.

The University of the West Indies was established in 1948 as a College of the University of London. It achieved full university status in 1962. Today it is the only pan-Caribbean tertiary level institution offering a wide array of diverse and accredited programmes to 45,000 students throughout the region, with campuses in Barbados, Trinidad and Tobago, Jamaica, Anguilla, Antigua, The Bahamas, Belize, Bermuda, British Virgin Islands, Cayman Islands, Dominica, Grenada, Montserrat, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, Turks and Caicos.

For further information:

Ciarlo Communications
Tel: 416-763-3783
Cell: 416-458-5090
Email: vciarlo@ciarlo.ca

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CaribWorldNews Rebrands As News Americas

Carib PR Newswire, NEW YORK, NY, Sat. Feb. 26, 2011: Get ready for News Americas, newamericasnow.com.

Executives of Hard Beat Communications have rebranded their CaribWorldNews wire to fit the company’s new goal of covering a larger demographic and capturing the emerging interest in the Americas, especially Latin America.

NewAmericasNow.com will replace CaribWorldNews.com, though readers will still be able to access the site through domains: CaribWorldNews.com, CaribbeanworldNews.com and Hardbeatnews.com.

The company’s new aim is to focus more on the top news, entertainment, business, sports and lifestyle and cuisine of the Americas and the content will be syndicated across over 50 sites and via EBSCO publishing.

The brand new website featuring web 3.0 technology will also allow for live feedback from readers who can view a live weather forecast, translate stories to suit their language need, listen to a Caribbean audio newscast right on the site and check out the preview of the latest bold move by HBC executives – a Caribbean entertainment newscast that will be presented weekly by a swimwear-clad anchor.

The video cast pioneers a new look and feel in the presentation of Caribbean news that is targeted specifically to the news service’s growing Internet followers globally.

Known for their spirit of innovation and originality, HBC CEO Felicia Persaud says 2011 is all about upping the ante – expanding into the Americas while still keeping the sexiness of the beach and the Caribbean’s beauties – with the video news of Caribbean-born celebrities.

The V-cast is being produced in collaboration with Mark Wright of Flatbush TV and will feature both male and female hosts. Wardrobe will be provided by popular Caribbean designers, including Guyana’s own, Roger Gary.

Persaud added that the company will, however, keep its weekly audio news cast focused on the Caribbean, given the BBC’s pull out from the region. The cast is aired across the U.S. on 13 radio stations and podcasted on 32 African-American and Caribbean websites.

For more log on to NewsAmericasNow.com.

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