Westleaf Cannabis closes on $20 million in financing

Company plans to open 20 to 30 retail stores under the banner Prairie Records over the next 12 to 24 months

Westleaf Cannabis closes on $20 million in financingCalgary-based Westleaf Cannabis has received strong validation of its innovative approach in the Canadian cannabis industry with the recent closing of $20 million in financing, including a $2.9-million strategic investment from Tilray Inc. Westleaf plans to open 20 to 30 retail stores over the next 12 to 24 months, subject to securing real estate, finalizing…

Former Canadian Olympic skier launches resort development in Mexico

Cary Mullen says Vivo Resorts in Puerto Escondido is the perfect holiday destination

Former Canadian Olympic skier launches resort development in MexicoFormer Canadian Olympic skier Cary Mullen believes he’s found the perfect location for Canadians to purchase affordable, low-tax luxury resort properties. Mullen, founder of Vivo Resorts, is the man behind the gated community in Puerto Escondido, Mexico. “Puerto Escondido is the perfect holiday destination with sunny temperatures that rarely change more than three degrees year-round,…

Athabasca Oil chopping 25% of head office staff

The sector is still a long ways away from permanent solutions, says company president Robert Broen

Athabasca Oil chopping 25% of head office staffAthabasca Oil Corp. announced on Tuesday that it has undertaken a number of actions to enhance its competitiveness and resiliency. It has introduced a streamlined corporate cost structure that consists of a 25 per cent reduction in head office staff effective immediately and 10 per cent rollback in salaries for executives and directors. The company did…

Canada a dry hole for oil and gas investors

Onerous regulations, higher taxes and a lack of pipeline capacity are taking their toll on Canada’s energy sector: Fraser Institute

Canada a dry hole for oil and gas investorsThe oil and gas sector in Canada has been through some challenging times in recent years, making investment in the sector nowhere near what it used to be. A new report released on Thursday by the Fraser Institute, an independent Canadian public think-thank, indicates just how bad that’s become. The 2018 Global Petroleum Survey said no…

TransCanada expects healthy annual growth in dividends

‘Our $94-billion portfolio of energy infrastructure assets are expected to generate record financial results in 2018’

TransCanada expects healthy annual growth in dividendsCalgary-based TransCanada Corp. expects its dividend to increase eight to 10 per cent annually through to 2021, the company announced in a news release on Tuesday. The announcement came before the company hosted its annual Investor Day in Toronto, where it was providing an financial update and reviewing strategic plans for its natural gas pipelines,…

IKEA Canada reports strong sales growth

Sales totalled $2.39 billion across the country and e-commerce grew by almost 19%

IKEA Canada reports strong sales growthIKEA Canada announced on Friday that company sales of $2.39 billion across the country for the financial year ending Aug. 31 were an increase of eight per cent on the previous year. It said it experienced “accelerated growth” online as web visitation on IKEA.ca jumped to 104 million customers, contributing to $241.5 million in e-commerce…

Imperial Oil developing $2.6-billion Alberta oil sands project

Project will include the first major commercial application of technology to lower greenhouse gas emissions and water use

Imperial Oil developing $2.6-billion Alberta oil sands projectImperial Oil says it’s proceeding with the development of its $2.6-billion Aspen oil sands project, about 45 kilometres northeast of Fort McMurray. The company said the project, which is expected to produce about 75,000 barrels of bitumen per day, will include the first major commercial application of next-generation oil sands recovery technology. The technology is…

Buying, enhancing and holding real estate

Anthony Giuffre of Avenue Living Asset Management talks about learning to succeed by running under the feet of the giants

Buying, enhancing and holding real estateAnthony Giuffre is founder and CEO of Avenue Living Asset Management. Tell me how Avenue Living started. Giuffre: In the mid-2000s, my business partner and I were reviewing multi-family real estate investment. There were already some major success stories in the buy, enhance value and hold arena, like Boardwalk Real Estate Investment Trust, Mainstreet Equity…

Lowe’s closing 31 Canadian stores

Among the store closures: 1 in BC, 2 in Alberta (both in Calgary), 9 in Ontario, 9 in Quebec and 6 in Newfoundland

Lowe’s closing 31 Canadian storesLowe’s Companies Inc., which also operates Rona stores, announced on Monday it will be closing 31 of its Canadian stores as well as 20 U.S. stores. It said the “underperforming” store closures are part of the company’s “ongoing strategic reassessment” and it will “focus on its most profitable stores and improve the overall health of…

Imperial Oil reports net income of $749 million in quarter

Petroleum product sales averaged 516,000 barrels per day, the highest quarterly sales in nearly 30 years

Imperial Oil reports net income of $749 million in quarterEnergy giant Imperial Oil reported on Friday that its estimated net income in the third quarter of 2018 was $749 million, an increase of $378 million compared with the net income of $371 million in the same period of 2017. “Imperial’s focus on reliability led to record gross production at Kearl of 244,000 barrels per…

Enbridge reports quarter loss of $90 million

Canada’s largest pipeline operator says its capital projects remain on time and on budget

Enbridge reports quarter loss of $90 millionEnbridge, Canada’s largest pipeline operator, is reporting a net loss attributable to common shareholders of $90 million in the third quarter of this year compared with earnings of $765 million a year ago. The loss was five cents per common share compared with earnings of 47 cents in the third quarter of 2017. “Enbridge continues…

TransCanada quarterly net income reaches $928 million

More than $20 billion in projects under development, says company

TransCanada quarterly net income reaches $928 millionTransCanada Corp. had net income attributable to common shares for third quarter 2018 of $928 million or $1.02 per share, compared to net income of $612 million or $0.70 per share for the same period in 2017, the company announced on Thursday. The company also said the $1.5 billion NGTL (Nova Gas Transmission Ltd. System)…

Suncor net earnings top $1.8B in third quarter

‘The ramp up at Fort Hills has gone exceedingly well and the asset is now operating at target rates’

Suncor net earnings top $1.8B in third quarterSuncor Energy reported net earnings of $1.812 billion in its third quarter, up from $1.289 billion in the third quarter of 2017. The company also said operating earnings rose from $867 million last year to $1.557 billion this year. “Strong operational performance was foundational to our success in the third quarter, resulting in over $3…

Encana to acquire all outstanding shares of Newfield

The $5.5 billion transaction positions the company 'to deliver highly efficient growth and quality returns’

Encana to acquire all outstanding shares of NewfieldEncana Corp. is acquiring all of the outstanding shares of common stock of Newfield Exploration Co. in an all-stock transaction valued at approximately $5.5 billion, it was announced on Thursday. In a news release, the companies said Encana will also assume $2.2 billion of Newfield net debt. “The strategic combination will create a leading multi-basin company…

Canadian Natural posts $1.8B net earnings in third quarter

The price per diluted share was $1.47, up from 56 cents a year ago

Canadian Natural posts $1.8B net earnings in third quarterNet earnings for Canadian Natural Resources Ltd. climbed to $1.8 billion in the company’s third quarter, up from $684 million a year ago. “The strength of our well balanced and diverse portfolio, combined with Canadian Natural's ability to effectively and efficiently execute, delivered a strong third quarter for the company,” said Steve Laut, executive vice-chairman,…
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