TORONTO, Oct. 23, 2024 (GLOBE NEWSWIRE) — STORAGEVAULT CANADA INC. (“StorageVault” or the “Corporation”) (SVI-TSX) reported the Corporation’s 2024 third quarter results and increases its dividend. Iqbal Khan, Chief Financial Officer, commented: “We have completed $204.5 million of acquisitions year to date – more than double the high end of our expected range – a… [Read More]
Dream Residential REIT Announces October 2024 Monthly Distribution
TORONTO–(BUSINESS WIRE)–DREAM RESIDENTIAL REAL ESTATE INVESTMENT TRUST (TSX: DRR.U and TSX: DRR.UN) (“Dream Residential REIT” or the “REIT”) today announced its October 2024 monthly distribution in the amount of US$0.035 per unit (US$0.42 annualized). The October distribution will be payable on November 15, 2024 to unitholders of record as at October 31, 2024.
About Dream Residential REIT
Dream Residential REIT is an unincorporated, open-ended real estate investment trust established and governed by the laws of the Province of Ontario. The REIT owns a portfolio of garden-style multi-residential properties, primarily located in three markets across the Sunbelt and Midwest regions of the United States. For more information, please visit www.dreamresidentialreit.ca.
Contacts
For further information, please contact:
Dream Residential REIT
Brian Pauls
Chief Executive Officer
(416) 365-2365
bpauls@dream.ca
Derrick Lau
Chief Financial Officer
(416) 365-2364
dlau@dream.ca
Scott Schoeman
Chief Operating Officer
(303) 519-3020
sschoeman@dream.ca
Dream Unlimited Corp. Q3 2024 Financial Results Release Date, Webcast and Conference Call
TORONTO–(BUSINESS WIRE)–Dream Unlimited Corp. (TSX: DRM) (“Dream”) will be releasing its financial results for the quarter ended September 30, 2024, on Tuesday, November 12, 2024.
Senior management will be hosting a conference call to discuss the financial results. Participants may join the conference call by audio or webcast.
Conference Call:
Date: |
Wednesday, November 13, 2024 at 10:00 a.m. (ET) |
|
Audio: |
1-844-763-8274 (toll free) |
|
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647-484-8814 (toll) |
|
Webcast: |
A live webcast will also be available in listen-only mode. To access the simultaneous webcast, go to the Calendar of Events on the News and Events page on Dream’s website at www.dream.ca and click on the link for the webcast. |
|
Digital Replay: |
A taped replay of the call will be available for ninety (90) days. For access details, please click on the Calendar of Events on Dream’s website. |
About Dream
Dream is a leading developer of exceptional office and residential assets in Toronto, owns stabilized income generating assets in both Canada and the U.S., and has an established and successful asset management business, inclusive of $25 billion of assets under management across four Toronto Stock Exchange listed trusts, our private asset management business and numerous partnerships. We also develop land, residential and income generating assets in Western Canada. Dream expects to generate more recurring income in the future as its urban development properties are completed and held for the long term. Dream has a proven track record for being innovative and for our ability to source, structure and execute on compelling investment opportunities. For more information, please visit our website at www.dream.ca.
Contacts
For further information, please contact:
Meaghan Peloso
Chief Financial Officer
(416) 365-6322
mpeloso@dream.ca
Kim Lefever
Director, Investor Relations
(416) 365-6339
klefever@dream.ca
Carlisle Companies to Acquire Plasti-Fab, a Canadian Based Vertically Integrated Manufacturer of Expanded Polystyrene Insulation Products
- Acquisition is consistent with Vision 2030 strategy to acquire superior building envelope products and solutions within Carlisle’s existing core
- Track record of above market growth in the expanded polystyrene market driven by tenured management team with deep experience
- Meaningful annual cost synergies of $14 million expected within the first three years
- Establishes Carlisle as an industry leader in the $1.5B North American expanded polystyrene insulation market, adding approximately $0.30 of adjusted earnings per share in 2025
SCOTTSDALE, Ariz.–(BUSINESS WIRE)–Carlisle Companies Incorporated (NYSE:CSL) today announced that it has entered into a definitive agreement to acquire the expanded polystyrene “EPS” insulation segment of PFB Holdco, Inc., a portfolio company of The Riverside Company, composed of the Plasti-Fab and Insulspan brands (collectively referred to as “Plasti-Fab”). Plasti-Fab is a leading vertically integrated provider of EPS insulation products across Canada and the Midwestern United States. Under the terms of the agreement, Carlisle will purchase Plasti-Fab for $259.5 million in cash. The purchase price represents 6.7x on adjusted EBITDA for the twelve months ended August 31, 2024, inclusive of run-rate cost synergies.
Plasti-Fab is headquartered in Calgary, Alberta, and has eight manufacturing locations across Canada and three in the United States serving the commercial, residential, and infrastructure construction markets. Plasti-Fab generated revenue of $109 million for the twelve months ended August 31, 2024.
Consistent with Carlisle’s stated Vision 2030 strategy, the Plasti-Fab acquisition leverages Carlisle’s mergers and acquisitions “M&A” engine and fulfills its three core M&A tenets including an embedded organic growth story with a 10-year track record of above market growth, identified hard cost synergies of $14 million largely related to Plasti-Fab’s vertically integrated polystyrene resin manufacturing capability that can be consumed across Carlisle’s combined EPS insulation footprint, and a strong management team that will play a significant role in supporting Carlisle Weatherproofing Technologies’ growth strategy and integration success utilizing the Carlisle M&A playbook.
Chris Koch, Chair, President, and Chief Executive Officer, said, “The acquisition of Plasti-Fab delivers vertically integrated polystyrene capabilities to our Insulfoam EPS business while adding scale, supporting retail channel growth, and filling key geographic gaps in the U.S. and Canada. This acquisition is consistent with Vision 2030 and our intent to build on our strategic pivot to a pure-play building products company with increased investment in innovation and a continued emphasis on synergistic M&A guided by our repeatable M&A model. I am confident that we will create significant value for all our stakeholders as we leverage the Carlisle Operating System across the Plasti-Fab business.”
The acquisition, which is subject to customary closing conditions, is expected to close in the fourth quarter of 2024.
Forward-Looking Statements
This press release contains forward-looking statements, including those with respect to the acquisition of Plasti-Fab, our ability to achieve expected cost synergies from the acquisition, our ability to integrate Plasti-Fab after the closing, and the anticipated timing of the closing of the transaction. These statements represent only Carlisle’s current belief regarding future events, many of which, by their nature, are inherently uncertain and outside of Carlisle’s control. Actual results could differ materially from those reflected in this press release for various reasons, including the failure of the parties to meet or waive closing conditions and the failure to receive required regulatory approvals. Carlisle disclaims any obligation to update forward-looking statements except as required by law.
Non-GAAP Measures
This press release also contains references to adjusted earnings per share and adjusted EBITDA, neither of which are recognized under U.S. generally accepted accounting principles. Carlisle believes that adjusted earnings per share and adjusted EBITDA are useful to investors because they allow for comparison to prior periods without the effect of items that, by their nature, tend to obscure core operating results due to potential variability across periods based on the timing, frequency, and magnitude of such items. As a result, the Company believes that these measures enhance the ability of investors to analyze trends in business and evaluate performance relative to peer companies. The Company is not providing reconciliations for these forward-looking non-GAAP financial measures because the Company is unable to predict with reasonable certainty the ultimate outcome of adjusted items without unreasonable efforts. These items are uncertain, depend on various factors and could be material to financial results computed in accordance with GAAP.
About Carlisle Companies Incorporated
Carlisle Companies Incorporated is a leading supplier of innovative building envelope products and solutions for more energy efficient buildings. Through its building products businesses – Carlisle Construction Materials (“CCM”) and Carlisle Weatherproofing Technologies (“CWT”) – and family of leading brands, Carlisle delivers innovative, labor-reducing and environmentally responsible products and solutions to customers through the Carlisle Experience. Carlisle is committed to generating superior shareholder returns and maintaining a balanced capital deployment approach, including investments in our businesses, strategic acquisitions, share repurchases and continued dividend increases. Leveraging its culture of continuous improvement as embodied in the Carlisle Operating System (“COS”), Carlisle has committed to achieving net-zero greenhouse gas emissions by 2050. Learn more about Carlisle at www.carlisle.com.
Contacts
Mehul Patel
Vice President, Investor Relations
Carlisle Companies Incorporated
(310) 592-9668
mpatel@carlisle.com
Melcor Developments Ltd. Acknowledges the Expiration of the Melcor REIT “Go-Shop” Period
EDMONTON, Alberta, Oct. 18, 2024 (GLOBE NEWSWIRE) — Melcor Developments Ltd. (“Melcor”) (TSX: MRD) acknowledges the expiration of the 30-day “go-shop” period which was provided for in the previously announced arrangement agreement dated September 12, 2024 (“Arrangement Agreement”) between Melcor and Melcor Real Estate Investment Trust (“Melcor REIT” or the “REIT”) (TSX: MR.UN) (the “Transaction”)…. [Read More]
Civeo Announces Third Quarter 2024 Earnings Conference Call
HOUSTON & CALGARY, Alberta–(BUSINESS WIRE)–Civeo Corporation (NYSE:CVEO) announced today that it has scheduled its third quarter 2024 earnings conference call for Wednesday, October 30th, at 10:00 a.m. Central Time (11:00 a.m. Eastern Time). During the call, Civeo will discuss financial and operating results for the third quarter 2024, which will be released before the market opens on Wednesday, October 30, 2024.
By Phone:
Dial 877-423-9813 inside the U.S. or 201-689-8573 internationally and ask for the Civeo call or provide the conference ID: 13749748# at least 10 minutes prior to the start time.
A replay will be available through November 6th by dialing 844-512-2921 inside the U.S. or 412-317-6671 internationally and using the conference ID 13749748#.
By Webcast:
Connect to the webcast via the Events and Presentations page of Civeo’s Investor Relations website at www.civeo.com.
Please log in at least 10 minutes in advance to register and download any necessary software.
A webcast replay will be available after the call.
About Civeo:
Civeo Corporation is a leading provider of hospitality services with prominent market positions in the Canadian oil sands and the Australian natural resource regions. Civeo offers comprehensive solutions for lodging hundreds or thousands of workers with its long-term and temporary accommodations and provides food services, housekeeping, facility management, laundry, water and wastewater treatment, power generation, communications systems, security and logistics services. Civeo currently owns and operates a total of 24 lodges and villages in North America and Australia with an aggregate of approximately 26,000 rooms. In addition, Civeo operates and provides hospitality services at 22 customer-owned locations with more than 18,000 rooms. Civeo is publicly traded under the symbol CVEO on the New York Stock Exchange. For more information, please visit Civeo’s website at www.civeo.com.
Contacts
Regan Nielsen
Civeo Corporation
Vice President, Corporate Development & Investor Relations
713-510-2400
Nexus Industrial REIT Announces Third Quarter Results Date, and November and December Distributions
TORONTO, Oct. 17, 2024 (GLOBE NEWSWIRE) — Nexus Industrial REIT (“Nexus” or the “REIT”) (TSX: NXR.UN) announced today that it intends to release its financial results for the quarter ended September 30, 2024, before the opening of the TSX on November 12, 2024. Management of the REIT will host a conference call at 10:00 AM Eastern… [Read More]
SmartCentres Declares Distribution for October 2024
TORONTO, Oct. 17, 2024 (GLOBE NEWSWIRE) — SmartCentres Real Estate Investment Trust (“SmartCentres”) (TSX: SRU.UN) announced today that the trustees of SmartCentres have declared a distribution for the month of October 2024 of $0.15417 per unit, representing $1.85 per unit on an annualized basis. The distribution will be payable on November 15, 2024 to unitholders… [Read More]
1-In-3 Canadian Grandparents Support Their Children or Grandchildren Financially, Impacting Retirement Plans
New survey reveals that 65% of Canadian grandparents who financially support their children or grandchildren say this is altering their own retirement savings
TORONTO–(BUSINESS WIRE)–As young Canadians continue to grapple with rising living costs, the 2024 Financial Support Sentiment survey issued by Bloom Finance in Partnership with Angus Reid, found that intergenerational financial support has become a common practice. The survey sheds light on growing financial pressures collectively faced by Canadian families, revealing that one in three Canadian grandparents are financially supporting their children or grandchildren. This further illustrates the delicate balancing act that Canadian grandparents are facing amid the cost of living crisis, with more than half (65%) of survey respondents saying that financially supporting their children and grandchildren has affected their retirement savings.
The survey released today finds that:
FINANCIAL SUPPORT TRENDS:
- One-in-three Canadian grandparents support their children or grandchildren financially
-
43% of those who do support their adult children and 37% of those who support their grandchildren feel obligated to do so, with the main reasons for feeling obligated due to:
- They are in need of financial support (68%)
- Rising living costs (44%)
- The culture of paying it forward: their parents/grandparents helped them (24%)
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53% say the amount or frequency of financial support they provide to children and grandchildren has increased over the last two years
- Of those who are supporting their children, 42% are providing more than $5,000 per year
- Of those who are supporting their grandchildren, 22% are providing more than $5,000 per year
- 55% currently support their children/grandchildren with everyday living expenses including groceries, gas, clothing, and cell phone bills, followed by extracurricular activities or child care (33%), and rent or mortgage payments (26%)
IMPACT ON RETIREMENT PLANS:
- 65% of Canadian grandparents say their financial support obligations have affected their retirement savings, with 66% of Canadian grandparents indicating that the increased cost of living has altered their retirement plans
- To address any shortfall in retirement savings due to financial support, 67% of Canadian grandparents plan to adjust their own lifestyle or spending habits, while only 18% plan to reduce the financial support they provide to their children or grandchildren
- Of those who have an upcoming mortgage renewal, nearly one quarter (22%) say it will impact their financial stability
“Intergenerational financial support has become ingrained in our cultural fabric, and while it’s admirable, the rising costs of living are jeopardizing Canadian seniors’ financial outlook. Canadians shouldn’t have to choose between their loved ones and themselves,” said Ben McCabe, Founder and CEO of Bloom. “Solutions like ours empower Canadian seniors to access their home equity, allowing them to assist family members when needed while maintaining their own financial independence.”
As many Canadian seniors are bearing the burden of choosing between financially supporting their loved ones and investing in their retirement, Bloom Finance is bringing innovative and accessible financial alternatives to help Canadian grandparents find financial relief through the wealth accumulated in their homes.
For more on Bloom Finance, visit bloomfin.ca.
About Bloom Finance Ltd.
Bloom is a leading Canadian fintech company dedicated to assisting homeowners aged 55 and above in accessing the wealth accumulated in their homes to enjoy more comfortable retirements. Through the integration of cutting-edge technology and innovative product delivery, the company is reshaping home equity access to be adaptable, enduring, and user-friendly. Bloom’s overarching mission is to alleviate financial stress among retired homeowners, enabling them to relish the golden years of their lives. Licensed in ON:13338, BC:MBX600455, and AB. Discover more at www.bloomfin.ca.
Methodology
These are the findings of a study conducted by Bloom Finance from September 18 to 22, 2024 among a sample of 503 online Canadians aged 55 and over who are members of the Angus Reid Forum. The survey was conducted in English and French. For comparison purposes only, a probability sample of this size would carry a margin of error of +/- 4.4 percentage points, 19 times out of 20.
Contacts
For media inquiries:
Amy Sarkany
Category Communications
amy@categorycomms.com
Timbercreek Financial Announces Conference Call to Discuss Third Quarter Financial Results
TORONTO, Oct. 16, 2024 (GLOBE NEWSWIRE) — Timbercreek Financial (TSX: TF) will hold a conference call and live audio webcast at 1:00 p.m. (ET) on Thursday, October 31, 2024, to discuss financial results for the quarter ended September 30, 2024. The financial results will be released on Wednesday, October 30, 2024, after the markets close…. [Read More]
Melcor Real Estate Investment Trust Announces Expiration of “Go-Shop” Period
No superior offer made with 100 parties solicited Unitholders who have questions, should contact, Laurel Hill Advisory Group, at North America Toll Free: 1-877-452-7184 or By Email: assistance@laurelhill.com EDMONTON, Alberta, Oct. 16, 2024 (GLOBE NEWSWIRE) — Melcor Real Estate Investment Trust (“Melcor REIT” or the “REIT”) (TSX:MR.UN) today announced the expiration of the “go-shop” period (the… [Read More]
Slate Grocery REIT Announces Distribution for the Month of October 2024
TORONTO–(BUSINESS WIRE)–Slate Grocery REIT (TSX: SGR.U) (TSX: SGR.UN) (the “REIT”), an owner and operator of U.S. grocery-anchored real estate, announced today that the Board of Trustees has declared a distribution for the month of October 2024 of U.S.$0.072 per class U unit of the REIT (“Class U Units”), or U.S.$0.864 on an annualized basis.
Holders of Class U Units may elect to receive their distribution in Canadian dollars and should contact their broker to make such an election.
Holders of class A units of the REIT (“Class A Units”) will receive a distribution equal to the Canadian dollar equivalent (based on the U.S./Canadian dollar exchange rate at the time of payment of the distribution) of U.S.$0.072 per Class A Unit, unless the unitholder has elected to receive distributions in U.S. dollars. Holders of class I units of the REIT (“Class I Units”) will receive a distribution of U.S.$0.072 per Class I Unit, unless the unitholder has elected to receive distributions in Canadian dollars. Holders of units of subsidiaries of the REIT that are exchangeable into Class U Units (“Exchangeable Units”) will receive a distribution of U.S.$0.072 per unit.
If a holder of Class U Units or Class I Units elects to receive distributions in Canadian dollars, the holder will receive the Canadian dollar equivalent amount of the distribution being paid on the Class U Units or Class I Units, as applicable, based on the U.S./Canadian dollar exchange rate at the time of payment of the distribution.
Distributions on all unit classes of the REIT, and distributions on Exchangeable Units, will be payable on November 15, 2024, to unitholders of record as of the close of business on October 31, 2024.
About Slate Grocery REIT (TSX: SGR.U / SGR.UN)
Slate Grocery REIT is an owner and operator of U.S. grocery-anchored real estate. The REIT owns and operates approximately U.S. $2.4 billion of critical real estate infrastructure across major U.S. metro markets that communities rely upon for their daily needs. The REIT’s resilient grocery-anchored portfolio and strong credit tenants provide unitholders with durable cash flows and the potential for capital appreciation over the longer term. Visit slategroceryreit.com to learn more about the REIT.
About Slate Asset Management
Slate Asset Management is a global alternative investment platform. We focus on fundamentals with the objective of creating long-term value for our investors and partners. Slate’s platform focuses on four areas of real assets, including real estate equity, real estate credit, real estate securities, and infrastructure. We are supported by exceptional people and flexible capital, which enable us to originate and execute on a wide range of compelling investment opportunities. Visit slateam.com to learn more, and follow Slate Asset Management on LinkedIn, X (Twitter), and Instagram.
Forward-Looking Statements
Certain information herein constitutes “forward-looking information” as defined under Canadian securities laws which reflect management’s expectations regarding objectives, plans, goals, strategies, future growth, results of operations, performance, business prospects and opportunities of the REIT. The words “plans”, “expects”, “does not expect”, “scheduled”, “estimates”, “intends”, “anticipates”, “does not anticipate”, “projects”, “believes”, or variations of such words and phrases or statements to the effect that certain actions, events or results “may”, “will”, “could”, “would”, “might”, “occur”, “be achieved”, or “continue” and similar expressions identify forward-looking statements. Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations.
Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable by management as of the date hereof, are inherently subject to significant business, economic and competitive uncertainties and contingencies. When relying on forward-looking statements to make decisions, the REIT cautions readers not to place undue reliance on these statements, as forward-looking statements involve significant risks and uncertainties and should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not the times at or by which such performance or results will be achieved. A number of factors could cause actual results to differ, possibly materially, from the results discussed in the forward-looking statements. Additional information about risks and uncertainties is contained in the filings of the REIT with securities regulators.
SGR-Dist
Contacts
For Further Information
Investor Relations
+1 416 644 4264
ir@slateam.com
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